Charlie Lee: “Litecoin is not Near Bankruptcy”

Charlie Lee, Litecoin founder, strongly rejected talks about the foundation being near bankruptcy.

Celebrating the eight birthday of Litecoin network, Lee took the occasion and rejected the claims:

Happy 8th birthday to Litecoin!

Litecoin network has been up and running continuously for the past 8 years with zero downtime. And in that span of time, over $500,000,000,000 worth of LTC have been transacted.

Looking forward to the next 8 years and more! pic.twitter.com/ItcDWrdCf1

— Charlie Lee [LTC] (@SatoshiLite) October 13, 2019

Responding to 1 of the users question regarding the company possible bankruptcy despite the fact Lee donated to Litecoin foundation, the founder of Litecoin responded that the foundation isn’t near bankruptcy and has a sufficient amount of money to last two years.

The claims regarding the possible bankruptcy of Litecoin network started from TrustNodes the previous week. It stated that the company barely had any money left, down from more than 1 mln in revenue the previous year (2018) to $70,000 in minus the current year (2019)

At that time, Lee answered, stating that the foundation had an estimated one to two years’ runway with around $200 000 in its coffers.

With regard to the LTC price, it is having a stormy year in spite of the block rewards halving in August. At the time, it is 175% down on ($52.7) the current year’s high of $145 in June.

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Vitalik Buterin: “PoS Algorithm will Make Ethereum more Secure than Bitcoin”

According to the second most popular cryptocurrency co-founder Vitalik Buterin, after the proof of stake consensus algorithm implementation in the Ethereum blockchain, it will become safer and more expensive to attack than Bitcoin.

Vitalik Buterin particularly mentioned that after turning to PoS, possible attacks will become high-priced and it can make Ethereum network more secure.

With PoS integration in the Ethereum blockchain, users will lock their ETH in smart contracts and will be enable to approve new blocks, in lieu of spending lots of computing power and electricity like they do in PoW systems. If users who lock their cryptocurrencies misbehave, the cryptocurrencies they locked will be cut.

More Ether staked means there is a higher probability that the block will be confirmed. In this system, after the new block is created there exists a certain period in which the block can be challenged and be possibly confirmed to include illegal data. In such a case, the dishonest validator’s stake is cut and the challenger earns the stakes lost by the validator.

Thus, to make an efficient attack on this system, one will have first to place a huge amount of crypto to be able to create numerous blocks that could be lost if the blocks are proven to be illegitimate.

This means that under PoS consensus, validators will have skin in the game even after creating a block and can lose the blocks if they are recognized to be illegitimate.

Consequently, the potential attacks will become awkward and overpriced, and this is supposed to be an improvement over PoW, based on the opinion of Vitalik Buterin.

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eToro Launches Sentiment-Based Analytical Tool

The trading platform eToro announced about the development of the Twitter sentiment-based cryptocurrency trading strategy for their network of traders.

Partnering with analytics & finance management startup The Tie, eToro will release a tool allowing to track people’s perception of crypto coins.

This investment strategy analyzes crypto-related conversations that are processing daily 850 million tweets with the usage of machine learning and natural language processing technology.

US Managing Director of eToro Guy Hirsch mentioned the lack of the data and analytical tools in traditional markets noting the advantage of this analytical tool:

“In the spirit of crypto and decentralized technology, we believe that offering institutional-grade tools to every investor will level the playing field and democratize investing.”

Co-founder and CEO of The Tie Joshua Frank mentioned:

“All you need to do is click one button and you can copy these sophisticated trading strategies trusted by some of the world’s leading hedge funds and institutional investors.”

This new investment strategy checks each tweet separately and finds the tweets related to a particular crypto. Then using a filter checks the relevance of the data and deletes spam tweets.

As crypto fundamentals are still maturing, the company believes that people’s positive and negative perceptions can play a significant role and become essential indicators of cryptocurrency price movements.

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China will Launch Its Own Cryptocurrency

China is planning to launch a yuan-backed cryptocurrency, RBC Capital Markets reported. Analysts and industry leaders are underlining the China’s geopolitical implications of 1st introducing a crypto coin, especially if the United States regulators dismiss Libra.

RBC stated in a note to clients on Tuesday:

“If US regulators ultimately dismiss Libra and decide not to draft regulations to encourage crypto innovation in the United States, China’s CBDC may be strategically positioned to become the de facto global digital currency in emerging economies.”

The analysts of RBC also noted that messaging apps can give a vast opportunity to onboard customers to digital wallets and, as a result, it will lead to massive crypto coin adoption, underlining that China has the possibility to spread the potential token through messaging & payment apps like Alipay, WeChat & UnionPay.

China has been researching digital currencies as early as 2014 with the intention to reduce payment costs and improve payment convenience. In 2018, governor of China’s central bank Zhou Xiaochuan said that crypto is technically inevitable.

In September, Mu Changchun (deputy director of the People’s Bank of China’s payments department ) also stated that the crypto coin of China is intended to protect China’s monetary sovereignty and legal currency status.

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Ripple Trying to Launch XRP in Trillion-Dollar Derivatives Market

Ripple notes that it invested in Vega Protocol with an intention to help spur adoption of XRP. Vega is a protocol for designing and trading derivatives on a completely decentralized network.

Lately, Vega Protocol raised $5 million from several investors including Ripple’s Xpring with the purpose of helping to design and arise its decentralized derivatives platform.

Vanessa Pestritto, Ripple’s director of strategic growth for Xpring, said that the startup is targeting to give a boost to adoption of decentralized finance. She noted that in order to explore this developing industry it’s required to create, partner with and invest in big teams that are alongside the future of finance. “As we build out our own engineering team, Xpring will continue to engage with DeFi teams and communities to support the future of DeFi including the derivatives industry – a trillion-dollar market,” she added.

Pestritto also mentioned that the Ripple investment in Vega has an intention to lead to the launch of XRP on the platform.

Vega wants to design an open and decentralized network, allowing to freely trade, which will make capital markets widely available. It will keep building their network and study new possibilities to add other crypto coins, including XRP.

Vega protocol is now testing the final version of its trading system, created to provide people an entirely automated and decentralized derivative trading.

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Why NOT to attend ChainPoint 19!

Networking is boring and meeting the industry leaders seems not cool.

Who wants to travel to a city in the middle of nowhere, get to the venue of the conference in a traffic jam, meet these new people, try all that armenian unknown dishes? And there will definitely be need to reprint the business cards. Yeah, this is reasonable enough not to join the conference.

But listen, nobody wants to miss the chance to rub shoulders with the thought-leaders and experts of blockchain space for more than 20 hours, and have the unique opportunity to listen to so many  insightful and inspirational speeches from the top-notch experts and visionaries from the space.

The Minister of Economy of Armenia, Tigran Khachatryan, will present the main principles of the attractive crypto regulation law to be put in force soon, the CEO of Bitcoin.com Stefan Rust will give a keynote speech on the recent developments of the platform, Henri Arslanian, the Global Crypto and FinTech Leader at PwC and the Chairman of Fintech Association of Hong Kong will uncover exclusive insights about the fintech and crypto industry, Toufi Saliba, the CEO of TODA.network will tell about the new protocol, Marc Taverner, the Global Ambassador of Bitfury will show how governments are utilizing the DLT technology, we will go deep into use cases of digital transformation with Dr. Ramadan AlBlooshi, and will spread light on the hottest topics on the agenda of digital economies and much more.

We are hosting more than 25 blockchain communities with the presence of most active players who will be showcasing their products and services, proving us that this industry is going to disrupt the perception of the future we are all looking into.

ChainPoint 19 has the vision of bringing light to the most significant initiatives that are taking place in the space and providing a platform for all the players to grab as much value as possible.

 

Who cares about all that startup competitions?!

If your startup doesn’t need funding, or if you are not thrilled to discover the next big thing in its early stage, you can miss the CP19 Startup Battle.

Startups are the ones who fuel the development of the technology by proposing more and more real world use cases. This teams and ideas have to be noticed and ChainPoint 19 is the exact platform to bring all this fascinating projects onstage. Meet VCs, investors, experts, the ones who have built the startup ecosystem from scratch and they are here to share their experiences and maybe fund some of the lucky projects.

Why ChainPoint 19 Startup Battle?

• Build strategic partnerships
• Gain valuable and targeted media exposure
• Get invaluable expert feedback
• $350k prize fund, benefits and perks

The Startup Battle is supported by InnMind, aeternity ventures, CV labs and SmartGateVC, who have contributed to form the prize fund. They provided the opportunity to join the top incubation and acceleration programs, take the development of the project to the next level and close a funding round at the end.

 

Your workload is way too busy for you to take two days off and visit the next blockchain hub

Nice point, you can stay at your comfort zone, but here we have lots of stuff happening, that you definitely do not want to miss.

The Nooor Blockchain Armenia has introduced a draft law on crypto regulation and you can find out why the country is another option during ChainPoint 19. We talk about Malta, Switzerland as the jurisdictions with the most favorable conditions to operate a blockchain company, we go to Estonia for better opportunities and address service-providers from Singapore, etc. Each and every state is in hustle to put themselves on a map and attract as much international players as possible. And here we are, stating that we can count as one of the best options to choose. This is not only about the jurisdiction and fast growing tech industry, it is the creativity and the innovative approach we got and ChainPoint is one of the platforms to showcase all the opportunities that we have in our country.

We have taken the road of becoming one of the countries which will be advocating the development of the technology and the ecosystem as a whole.

Putting aside the blockchain, are you sure you want to miss your chance to touch the thousands-year-old history, see the outstanding cultural sights and taste the unique cuisine? Consult with your travel agent, she will show you the right way!

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Close your next big deal at ChainPoint!

The next remarkable blockchain conference – ChainPoint 19, will take place on October 14-15 in Yerevan, Armenia – the innovation powerhouse of the region.

Let’s take a glance at the origin of ChainPoint and uncover the hidden opportunities that Nooor is bringing to the stage this year.

ChainPoint was designed as a platform that serves the interests of the people who are building up this new industry we all are in, and the event last year proved to be a success. Today ChainPoint is one of the most influential conferences in the region which is set to showcase business opportunities within the regional tech ecosystem by bringing together global blockchain professionals and creating a platform for productive dialogue, sharing best practices and closing great deals.

 

Prove the value of decentralization

ChainPoint will host over 500 selected participants and more than 50 speakers this year. So we can assure you that this is a great chance to meet outstanding professionals, make large scale connections, discover new markets and partners, get valuable insights on the latest trends.

Use the platform to negotiate, make your business work and confirm that blockchain recognizes no borders. The leaders of our partner organizations, spanning from the Americas to Asia, from Europe to Australia and Africa, will be attending ChainPoint 19 – that is more than 40 blockchain communities from around the world to define the solutions for the challenges that each community is facing today.

 

Uncover the tech potential and get some deals closed

Armenia has become a home for future technologies, successful tech companies and game-changing startups that make their way to the global market stating the innovative and technological potential of the nation. In sync with the innovative developments of the world, Armenia sets a new wave of technological growth, putting special emphasis on emerging technologies. Should we mention that the country will plausibly have one of the most attractive regulations in the sphere by the end of the year?

With a 27% annual growth rate, the Armenian tech industry brings more and more success cases to life, so you definitely want to be here to uncover this thriving market. A number of companies implementing the technology, service-providers, startups with innovative ideas, will create the buzz and grab the attention of the investors and the big players of the market.

 

FOMO?!  Get your tickets now!

With a top-notch event program as a basis, ChainPoint will deliver discussions around the hottest trends and the most valuable insights by bringing to the stage such amazing speakers as Henri Arslanian – the PwC Fintech and Crypto leader for Asia and Chairman of Fintech Association of Hong Kong, Tigran Khachatryan – the Minister of Economy of the Republic of Armenia,  Dr. Ramadan Alblooshi – the CEO of Regulation Sector at Dubai Healthcare City, and many others.

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