Leading U.S. cryptocurrency exchange Coinbase has started listing 0x (ZRX) token, according to an announcement published Oct. 11. The move marks the first time Coinbase has added support for an ERC-20 token.ERC-20 tokens are tokens developed and used solely on the Ethereum (ETH) platform, where ERC stands for Ethereum Request for Comment, and 20 is the number assigned to this request. ERC-20 makes the creation of new tokens extremely easy, which is why ETH became popular with crowdfunding companies working on Initial Coin Offerings (ICOs).Per the announcement, Coinbase has launched support for ZRX on its professional platform, Coinbase Pro, although trading will only be allowed once sufficient liquidity is established. The exchange notes that a separate announcement will be made when the token becomes available on coinbase.com and on its iOS and Android apps.ZRX trading will be available in most jurisdictions, except the state of New York during its initial launch stage. Coinbase has divided the launch into four independent stages for each new trading pair; ZRX/USD, ZRX/EUR and ZRX/BTC, while the exchange notes that currently it will not offer trading on the ZRX/GBP pair.As Coinbase states in the blog post, in the first, “transfer-only” stage, customers will be able to transfer ZRX into their Coinbase Pro accounts, without an option to place orders. The second “post-only” stage will let customers post limit orders, however with no matches. The subsequent stages — “limit-only” and “full-trading” — will enable matching limit orders and full trading services, including limit, market, and stop orders respectively.In July, Coinbase announced its was considering adding five new assets — Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC), and ZRX — to its trading list. The trading platform noted then that the new assets “will require additional exploratory work,” also warning that the listing process may make some coins available for customers to buy and sell only, without the ability to send or receive them using a local wallet.Coinbase revealed its intention to add support for ERC-20 tokens in March, reversing previous statements from January. “After evaluating factors such as liquidity, price stability, and other market health metrics, we may choose to add any ERC-20 asset added to GDAX to the Coinbase platform,” the platform asserted.At press time, ZRX is trading at around $0.76, up by 5.42 percent on the day, according to CoinMarketCap. On its weekly chart, the cryptocurrency price surged from $0.62 on Oct. 6 to $0.86 today following the Coinbase announcement. ZRX’s market capitalization is around $407 million, while its daily trading volume is around $67 million, at press time.0x Weekly Chart. Source: CoinMarketCap
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Despite the bears market for cryptocurrencies this year, the launch of Crypto hedge funds soared to a record high.
According to a new report from Crypto Fund Research, 90 cryptographic hedge funds were released in the first three quarters of this year and the total is expected to reach 120 of the fiscal year.
120 encryption-centric hedge funds, which are expected to reach approximately 600 in all types of hedge funds to be launched in 2018, will account for 20% of the total.
This figure represents the number of companies that have increased investor awareness of cryptocurrencies over the past two years and are seeking to meet new concerns.
Cryptographic hedge funds accounted for about 16% of new hedge funds last year, and less than 3% in 2016.
"In the niche of the traditional hedge fund launch in 2018, crypto hedge funds are noteworthy," said Joshua Gnaizda, founder of Crypto Fund Research.
Lower cryptographic prices and regulatory uncertainties in many areas persist, but these seemingly unfavorable market conditions have not prevented managers from releasing new cryptographic hedge funds at record rates. "
Crypto Fund Research also points out that Crypto hedge funds are part of many kinds of cryptographic funds, including those based on venture capital and private equity funds. There are currently 622 cryptographic funds grouped in all categories, 303 of which represent cryptographic hedge funds with assets of less than $ 4 billion. According to research,
The study also looked at the geography of the launch of a new cryptographic hedge fund, which claims to be about half the US based, but has appeared several times this year in Australia, China, Malta, Switzerland, the Netherlands and the UK.
Gnaizda concluded that:
"We do not believe that the new launch rate will last for long, but there are very few signs of a serious recession right now," he said.
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Centbee of South Africa has announced the launch of its bitcoin cash wallet app in beta, as adoption continues to grow in Africa and elsewhere around the world. Some shops in Kenya already accept bitcoin cash for purchases.
Also read: BCH Roundup: Merchant Adoption, Wallet Services And Hackathon.
Centbee Wallet App Allows Users to Send Bitcoin Cash to Friends via Mobile
South African cryptocurrency firm Centbee has released the beta version of its bitcoin cash wallet, allowing users to send BCH to one another via cellphone. The app, which allows people to receive, hold, and spend BCH, has been in alpha testing for the past few months, with users trying out its performance through test coins. Users have asserted that “its most useful feature is the ability to send bitcoin cash to friends by selecting from their phone’s contacts list,” according to reports.
Centbee co-chief executive officer Angus Brown said he was “extremely confident of the final product” after the company included comments from customers in the beta version. “Cryptocurrency as a form of payment costs a fraction of what users would pay using their bank accounts, especially for cross-border payments. This is the future of money,” he was quoted as saying.
We’re in BETA!
Download @CentbeeWallet on the App Store or Google Play and start sending Bitcoin cash to your friends simply by tapping your phone contacts.
Download on Google Play: https://t.co/GisusqxWA2
Download on the App Store:https://t.co/RaRfj4CzNe#BitcoinCash #BCH pic.twitter.com/sZJoClSiY4
— Centbee (@CentbeeWallet) October 2, 2018
Africa Sees Steady Growth in BCH Adoption
Bitcoin cash offers reliable, fast and inexpensive cryptocurrency transactions when compared to traditional means of sending money. In Africa, the cryptocurrency, which split from bitcoin core just over a year ago, has seen steady growth as a payment means for goods and services. According to the Coinline bitcoin cash directory of merchants, BCH as a payment method is currently established in two countries on the continent, Kenya and South Africa, though it continues to flourish elsewhere in the world.
BCH merchant directory
In South Africa, the latest launch proves the growing acceptance and adoption of cryptocurrency, regardless of regulatory concerns and falling virtual currency prices. South Africa, which recently gained its first multi-currency crypto ATM, has this year consistently ranked highest worldwide in search interest for “bitcoin”, according to data from Google Trends.
Boxlight Electronics, a Kenyan company that distributes a range of electrical gadgets including television sets and home theaters, now accepts payment in bitcoin core and bitcoin cash. Robinson Murage, chief executive officer of Boxlight Electronics, has said previously: “We have received tons of requests from our customers to pay using digital currencies. As a company whose 90% of customers are young, tech savvy and predominantly online we choose to be all inclusive and adapt to the needs of those that prefer this type of currency.”
At Centbee in South Africa, co-chief executive Lorien Gamaroff explained: “Our key focus in designing the app was to make sending bitcoin cash to friends as simple as possible. In just a few taps, users can send bitcoin cash to anyone, anywhere at the lowest possible cost. Bitcoin cash will be adopted globally as the best way to pay, especially in Africa and other developing markets.”
What do you think about Centbee’s new wallet app and the adoption of bitcoin cash in Africa? Let us know in the comments section below..
Images courtesy of Shutterstock and Coinline
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Lamassu, a Portuguese Bitcoin ATM manufacturer, has unveiled three new machines comprising its “next generation” of cryptocurrency ATMs.
Also Read: Japan Roundup: Bitflyer Restructures, Zaif Suspends New Member Registrations
Lamassu Launches New Cryptocurrency ATMs
Lamassu has launched its new ‘Sintra’ range of cryptocurrency ATMs – the Sintra, Sintra Forte, and Douro II.
All of the machines offer support for BTC, BCH, LTC, ETH, DASH, and ZEC, and allow ATM operators the ability to choose which cryptocurrencies to enable through the machines’ back-end. Additionally, operators are able to adjust fees, commissions, and compliance obligations through the back-end.
Lamassu Operators Required to Host Own Wallets and Servers
The Sintra and Sintra Forte are both two-way machines, whilst the Douro II only facilitates the purchasing of cryptocurrency. The Sintra Forte comes with an internal vault, as is approximately 20% larger than the Sintra. Operators of Lamassu crypto ATMs are required to host their own servers and wallets, as there is no central Lamassu server. Lamassu’s software is open source.
Lamassu first demonstrated their cryptocurrency ATMs at a conference in San Jose during 2013 – with the company then comprising two brothers who owned a guitar store together, Zach & Josh Harvey. Soon thereafter the company began production in a small facility, before expanding to deploy approximately 400 machines worldwide and process between 20 and 30 transactions daily by mid-2017. As of this writing, Coinatmradar estimates that Lamassu cryptocurrency ATMs represent 11.17% of the number of machines installed worldwide, with 427 active units.
The company has consistently sought to maintain separation from the operators and users of its ATMs, with the Harvey brothers previously stating: “it was so important to us to separate from the operators as much as possible. Basically, there is no info about the machines on the field that is available to us apart from the info operators are willing to tell us […] we choose to have a decentralized system. We do not run any servers that are in charge of sending the money or seeing any of the user data. So we cannot have any of the money because we do not have access to it.”
Do you think growth the cryptocurrency ATM industry is a effective indicator of growing crypto adoption? Share your thoughts in the comments section below!
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Wallet provider Blockchain.com has created an OTC trading desk as part of its efforts to cater to institutional investors. Also in The Daily this Sunday, Shapeshift launches the redesigned Coincap tracker, Kraken lists Cardano and Qtum, and Compound offers its users the option to short cryptocurrencies.
Also read: Fiat vs Crypto Laundering, Bitcoin Anniversary Cash-Ins
Blockchain.com Launches OTC Trading Desk for Institutional Investors
Blockchain.com, the popular cryptocurrency wallet provider, has launched an over the counter (OTC) trading desk as part of its plans to attract institutional investors. The company already offers custodial services tailored to serve the needs of clients such as hedge funds and asset managers. The move will allow Blockchain to conduct large private crypto trades outside of public exchanges.
Former DRW fixed-income trader, Vince Machi, is running the new OTC desk, according to a source familiar with the development, quoted by The Block. The news comes after earlier reports that Jamie Selway, the former head of electronic brokerage and execution services at Investment Technology Group (ITG), has taken responsibility for Blockchain’s institutional efforts.
A number of companies in the space already provide OTC services, including DRW and DV Trading as well as established cryptocurrency exchanges such as Kraken and Itbit. Blockchain.com claims to have 28 million downloads of its wallet offered as part of its retail business.
Shapeshift Announces the New Coincap Tracker
Digital asset exchange Shapeshift has announced the relaunch of its cryptocurrency tracker, Coincap. The rebuilt platform now offers users new features and functions for tracking and interacting with global pricing data for cryptocurrencies and tokens, the company said in a blog post. Coincap, which is one of the alternatives to Coinmarketcap, offers real-time market data for these assets, including market capitalization, 24-hour coin and exchange volume, and available supply. It supports more than 1,000 cryptocurrencies and uses information from over 65 crypto trading platforms.
Some of the new features that come with the update include real-time price and market changes, exchange pair and volume listings, trading view with granular candle charts, timestamped status updates, and a new API with more endpoints such as rates, exchanges, markets, and candles. The Coincap.io website now features mobile-friendly design, dark mode and is free of ads. Redesigned mobile apps for Android and iOS users are expected to be released by the end of the year.
Commenting on the relaunch, Shapeshift’s founder and CEO Erik Voorhees noted: “Coincap’s new web and API service, built entirely from the ground up, is another way we are committed to creating the best experience for our users. This is the next step in a product delivering reliable and transparent crypto market data,” he said.
Kraken Adds New Coins – Cardano and Qtum
US-based exchange Kraken has added two new cryptocurrencies to its listings, Cardano (ADA) and Qtum (QTUM), the trading platform announced in its blog and on social media. Trading for the two coins started this past Friday. ADA and QTUM are to be paired with USD, CAD, EUR, BTC, and ETH. According to the press release, margin trading will not be available at launch, but may be enabled in the future. The company says it plans to list more digital asset but notes it will follow its policy not to reveal the details in advance.
Compound Offers Option to Short Cryptocurrencies
Customers of Compound, a platform for borrowing and lending digital coins, will now be able to earn money from falling crypto prices. The firm has reportedly launched a money market protocol for shorting cryptocurrencies. The option allows users to borrow and short Ethereum (ETH), 0x (ZRX), Basic Attention Token (BAT), and Augur (REP). The company’s chief executive officer, Robert Leshner, told Techcrunch that if or when Compound scales, “this will lead to some really interesting improvements in market structure, namely, fairer prices.” The startup, which is funded by Coinbase, Andreessen Horowitz and Polychain Capital, has established partnerships with over two dozen hedge funds, including high-frequency trading platforms and over the counter trading desks.
What are your thoughts on today’s news tidbits? Tell us in the comments section below.
Images courtesy of Shutterstock, Coincap.
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Wirex on Friday announced it had introduced International Bank Account Numbers (Iban) on its Euro accounts for customers in Spain and France. The bitcoin and cryptocurrency wallet firm also doubled account thresholds for users within the 31-member European Economic Area (EEA) to between $18,560 and $20,000, meaning customers can credit their accounts by that much.
Also read: Bitcoin Group SE Reports Half Year Profit Surges 300% to $3.85 Million
Spanish and French Users of Wirex Now Have Ibans, Spending Limit Doubled
London-based Wirex, a crypto-based Visa card payments company, said on September 28 that it had raised the funding limits for account holders in the EEA to £15, 000, €16,000 and $20,000. An Iban, a function which allows for cross-border payments for citizens of the European Union (EU) and elsewhere around the world, has been introduced for users in Spain and France, the company said.
According to Wirex co-founder and chief executive officer Pavel Matveev, the development is a result of collaborative efforts “with our financial partners, we have been able to expand our payment offering.” Matveev said:
We want to improve the Wirex experience for all users whilst continuing to bridge the gap between our service and conventional finance platforms.
The Iban is a long list of alphanumeric characters, capturing a series of important data, including country code, check digits and domestic bank account number, which are necessary when making international payments. Ibans were first used by the EU two decades ago to help smoothen across-the-border payments within the economic bloc, but have now expanded to about 70 countries worldwide.
Wirex, which had 900,000 customers at the end of 2017, said it had seen a surge in demand for its product offerings, necessitating the 100% account limit spend, but did not provide further detail. The company forecasts demand for its Visa card, which allows for bitcoin and conventional currency payments, to continue to firm.
“Our recent steps towards providing a more streamlined and well-rounded service are reflected in the IBAN and account limit updates,” said the company.
Wirex reported a few weeks ago it will be expanding operations to Canada after it got a Fintrac and Money Service Business registration in the country. The move will give Wirex access to Canada’s more than 600 different bitcoin ATMs, the world’s second biggest concentration of such cash machines after the US.
What do you think about cryptocurrency-capable debit cards? Let us know in the comments section below.
Images via Shutterstock
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Technology & Security
On September 24, the director of research at Tierion and the bitcoin developer Paul Sztorc announced the launch of the first Drivechain release. The Drivechain protocol is an alternative to the sidechain concept because it enables multiple blockchain compatibility but the system utilizes the same 21 million bitcoins.
Also read: Speculators and Investors Hodl, Venezuelans Send Crypto With SMS
Testdrive: The First Drivenet Test Release
This week Paul Sztorc has unveiled the first release of his open source project Drivechain, a protocol that allows a variety of alternative blockchains to work in unison with the BTC network. A Drivechain is similar to the sidechain concept initiated in 2014, but Drivechain works with other blockchain networks so they all agree with Nakamoto consensus and share the same 21 million bitcoin ruleset. Satoshi also vaguely discussed the idea of sidechains and multi-blockchain connectivity on June 17, 2010. Sztorc’s Drivechain system claims to allow permissionless innovation without diluting the value of the main cryptocurrency. Because a Drivechain is aligned with Nakamoto consensus it offers the security of the network but with an expanded set of services like smart contracts.
Sztorc has been working on the Drivechain project for quite some time now, and last December we reported on the two Drivechain BIP proposals Sztorc submitted for review and feedback. This week Sztorc explains he is pleased to announce the first Drivechain version called Testdrive and notes that the release is in two parts.
“Testdrive is our first drivenet test release — It certainly isn’t perfect — We are still working on it,” Sztorc writes in the Drivechain release announcement.
The developer continues by emphasizing:
Nonetheless, it’s good to be able to show people what exactly Drivechain does: it allows Bitcoin to travel among different pieces of software.
Expanding on Top of the Mono-Chain Without Controversy and in a Permissionless Fashion
Sztorc further details that if the “multi-network coin” concept is practical it could change a lot of things within the cryptocurrency ecosystem. It could theoretically squash consensus upgrade feature infighting and political discourse by allowing permissionless innovation.
“Bitcoin would be able to copy, without controversy, any technology, including: larger blocks, Turing-completeness, and ring signatures,” Sztorc details in the Drivechain announcement.
In some earlier writings, Sztorc has explained some of the issues with the ‘mono-chain setup.’ The developer details that the technology comes with economic trade-offs but only one group can have their choice of the most optimal feature. Other token features could be implemented to the main protocol without years of disagreements.
“Bitcoin is supposed to be used as money, but if it cannot be used on some networks, it is constrained as a medium of exchange – and therefore at a competitive disadvantage,” Sztorc notes on the Drivechain website.
Lastly, is not just an exclusive project for BTC. Sztorc explained today that Drivechain could also be integrated to work with the Bitcoin Cash (BCH) network.
“Furthermore, due to our use of a “UTXO loader”, it will be very easy to release a version for BCH users — Unlike most people, I’m happy to be agnostic in this regard — Let the users exercise their sovereignty,” Sztorc explains on Twitter.
What do you think about Paul Sztorc’s Drivechain? Let us know what you think about this project in the comment section below.
Images via Shutterstock, Pixabay, and Twitter.
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Pesamill Africa started trading today in one of Africa’s most active bitcoin markets. The exchange will compete with the likes of Bitpesa, and market itself to more than 48 million Kenyans, promising to help them buy and sell cryptocurrency peer-to-peer or through a centralized exchange with an order book.
Also read: European Banks Complicit as Corrupt African Leaders Plunder Their Home Economies
Pesamill Africa’s Two-in-One Cryptocurrency Exchange
Pesamill Africa has launched as Kenya’s latest cryptocurrency exchange. Founder Brian Ngugi says the exchange will offer cross platform trading – two models in one exchange, basically.
“Pesamill is a peer-to-peer platform and a centralised exchange,” Ngugi, a lawyer, told delegates attending the launch in Nairobi, on September 26, which was attended by members of the Blockchain Association of Kenya. “We aim to solve the tedious and complex Know Your Customer (requirements) of most global exchanges.”
To do that, Ngugi promises to speed up verification, boost security and ease payment processes, among other things. Pesamill Africa will trade bitcoin core (BTC), bitcoin cash (BCH), ethereum (ETH), litecoin (LTC) and ripple (XRP).
The exchange is entering into a market rated as one of the top 25 cryptocurrency markets in the world, and third in Africa after Nigeria and South Africa. Pesamill Africa will seek to rival the dominance of established and emerging trading platforms like Bitpesa, Coindirect and Belfrics.
“We Will Expand as Quickly as the People Want Us To”
Several weeks have passed since the Kenyan parliament tasked the country’s Financial Ministry to come up with a determination as to whether or not to regulate bitcoin and other cryptocurrencies. There has not been any official communication from the Kenyan government in relation to its latest position on the future of bitcoin.
Ngugi, the founder and director of Pesamill Africa, hopes that some form of regulation is enforced to aid growth and confidence within the cryptocurrency ecosystem in the East African country.
“Cryptocurrencies have to be regulated. It is not a question of if, but when,” he said. “We will expand as quickly as the people around us want us to do it.”
In April, the Central Bank of Kenya warned banks against dealing with companies involved in the trade of virtual currencies – or that the banks themselves invest in digital coins at all. The central bank reduced bitcoin to a pyramid scheme.
Under the veil of such warnings, however, Kenyan authorities look like they are drawn to blockchain technology more than they are to cryptocurrency. In March, President Uhuru Kenyatta set up an 11-member team to investigate the distributed ledger technology, particularly its potential use in eliminating inaccuracies within the land registry.
Mr. Kenyatta’s government has in the past prevented bitcoin exchanges from making payments through Mpesa, a mobile money service offered by cellular network provider Safaricom, which is 35 percent owned by the government.
In the streets of Nairobi, bitcoin continues to thrive despite the shadow of uncertainty hanging over its future. Bancor Network, a fintech company based in the Kenyan capital, in June announced plans to launch a network of blockchain-based communities to help East Africans manage their digital tokens, using part of the $150 million it raised in a token sale last year.
What do you think about the growth and development of cryptocurrency in Kenya in particular, and Africa in general? Let us know in the comments section below.
Images via Shutterstock and Pesamill Africa
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A new cryptocurrency exchange has launched today called Voltaire.cash, a trading platform that aims to utilize bitcoin cash (BCH) as the base pair for all trades. Initially, the exchange will start by offering bitcoin core (BTC) against BCH trading and will follow that pair with ethereum and doge markets against bitcoin cash.
Also Read: Netherlands’ Largest Bank ING Group Fined $900M for Money Laundering
Voltaire.cash Offers Cryptocurrency Swaps Using Bitcoin Cash as the Base Currency
There are only a few exchanges that offer bitcoin cash trading pairs so traders can trade BCH with various digital assets. At the moment BCH proponents can use trading platforms like Coinex, and Panda Exchange for bitcoin cash trading markets. Now the 20-year old Semyon Germanovich and his development team from Shoreditch, London are launching the Voltaire.cash exchange and the platform will provide BCH denominated pairs. The Voltaire team says the company’s key focus will be dedicated to security and transparency. Further, the exchange also claims they have hired consultants from one of the Big Four firms. News.Bitcoin.com spoke with Semyon Germanovich who told us the first iteration of Voltaire will support BTC/BCH pairs and then shortly after follow with ethereum and dogecoin against BCH.
“We believe these currencies are attractive both commercially and fundamentally. There is a lot of overlap between the communities of ETH, DOGE, and BCH: productivity, collaboration, and innovation,” Germanovich explains to news.Bitcoin.com.
The trade view for the new Voltaire.cash exchange.
The Voltaire Team Appreciates the Technical, Economic and Social Advantages Bitcoin Cash Offers
Germanovich and the Voltaire team are big supporters of BCH and say they promise to devote both time and resources back to the cryptocurrency community. The goal is to drive bitcoin cash adoption and with BCH network fees at less than a third of US penny its the perfect trading pair.
“Our team is united by a shared vision to see mass adoption of cryptocurrency — We’re behind Bitcoin Cash because we appreciate both it’s technical, economic and social advantages over other cryptocurrencies,” Germanovich details. “There aren’t many exchanges supporting Bitcoin Cash. It’s a real shame because Bitcoin Cash scales using an efficient and proven method. We see it as the best technology to deliver daily peer-to-peer electronic cash payments for billions worldwide.”
Germanovich continues, “from a practical perspective we can offer zero confirmation deposits and that’s something we’re working towards: the lack of replace-by-fee in Bitcoin Cash reduces the likelihood of double spending successfully.”
Perhaps for us, the most attractive value of Bitcoin Cash is its community. Bitcoin Cash is a movement driven by its participants — merchants, miners, developers, and capitalists engaging each other, disagreeing, agreeing, building products and services. As a founder, it makes me proud to be involved and feels like Bitcoin in 2013.
“I think supporting Bitcoin Cash as a base exchange pair is a great way to drive adoption in the cryptocurrency,” explains Semyon Germanovich.
Supporting Bitcoin Cash as a Base Exchange Pair Is a Great Way to Drive Adoption
Germanovich says him and another developer produced a prototype of Voltaire’s trading engine a long time ago in order to prove to investors that they could do build the exchange. In November of 2017, the developers hired a core team and began working on Voltaire full time since March. “There’s ten of us now, but I think the sheer amount of work we’ve done and the product we’ve managed to build is a story itself,” Germanovich explains. Additionally, the Voltaire founder says he understands the need for more trading platforms offering BCH pairs.
“The number of exchanges supporting Bitcoin Cash base pairs is in the single digits. I think supporting Bitcoin Cash as a base exchange pair is a great way to drive adoption in the cryptocurrency — Not only are we creating liquidity and raising awareness of Bitcoin Cash, we’re also giving away a percentage of our exchange profits to fund community projects that drive adoption by building utility,” the Voltaire founder emphasizes to news.Bitcoin.com.
Germanovich concludes by stating:
I think it’s only a matter of time until we see a big exchange like Binance or Bitfinex implementing Bitcoin Cash pairs for the very reason that it will soon be expensive and slow to use Bitcoin and other cryptocurrencies as a base exchange pair — People are starting to realise that this is a proven and efficient way to scale Bitcoin.
What do you think about the Voltaire.cash exchange? Let us know what you think about this trading platform in the comment section below.
Images via Voltaire.cash
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