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iTrue ICO Review
Big Data, and how it’s handled, is one of the main subjects of debate in pretty much every industry. As the Internet becomes an ever-increasingly integral part of our everyday lives, the question of how data is handled and how our privacy is secured will become more important. With the recent introduction of GDPR in the European Union, data security is now a crucial aspect of running a business.
At the same time, blockchain technology is becoming more prevalent in the business sector, and more companies are looking into how they can create blockchain-based apps for themselves and their clients. iTrue is a company that is about to launch an ICO for their project, which will attempt to tackle the data question and at the same time provide a platform for businesses to develop their own blockchain-based apps.
What is iTrue?
iTrue is Blockchain-as-a-Service (BaaS), that will use a biometric authentication system for both developers and business users. It will allow businesses to develop their own blockchain networks, and it will incentivize their customers for sharing their data in exchange for monetary rewards. This will not only allow a quick and easy entry for businesses into the world of blockchain technology but also solve the problem of data privacy. Users will quite simply opt-in to share their data because they will receive money for it.
The CEO of iTrue Limited, Jack Cheng, has expressed that there is an increasing demand for the solutions that iTrue provide. More businesses than ever want to create online services and apps for their customers. Particularly the services that have to do with financial products are at risk of being compromised. What iTrue will do is help businesses identify the gaps in their knowledge of how to best utilize the data of their customers. The iTrue solution will use a combination of database technologies with blockchain and biometrics. This will ensure maximum security for the users of these online services.
What are the key features of iTrue
Anton Goroshankin is the CTO of iTrue, and he is very excited about the progress their development team has made with the platform. iTrue is the first platform to combine blockchain technology with database technology. Not only is iTrue very resilient to hacks and attacks of other kinds, but the infrastructure of the platform itself is also very scalable. Users of iTrue will have complete control over how their personal data is being used and by whom. Even if they should forget, the platform will send them alerts to remind them of how their data is being used and for what end. The team behind iTrue has also ensured that the platform complies will all privacy regulations put in place by the local and federal government. The businesses themselves can of course also create their own apps, and put in place their own security measures.
What about the iTrue tokens?
There are a lot of dots to be connected on the iTrue platform. Given that the ecosystem is populated by business users, developers, regular users, and business clients, a common currency needs to connect the dots. That currency is the iTrue token, which will be the cryptocurrency with which businesses can develop apps, users can benefit from them, and developers can get paid. By engaging with the platform and its many apps, everyone involved will be rewarded with iTrue tokens. Through the platform, it will also be possible for a business to exchange user data in order to cross-pollinate, so to speak. Again, the users will be in complete control of their own data, and it cannot be used without their explicit permission.
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The cryptocurrency market has had an immense growth worldwide despite the many hiccups like the Bitcoin crash of 2017. More tokens are being launched, more exchanges are being opened, and more ICOs are being started. Big tech companies like Amazon, Facebook, Google, and IBM are working on their own blockchain projects. Banks and Wall Street firms are beginning to trade in cryptocurrency. All in all, things are going pretty well.
Unfortunately, the banks and big tech firms are not the only actors who have noticed the rise of cryptocurrency and want to get in on the action. Hackers and scammers have also begun ramping up their attacks in tandem with the rising popularity of cryptocurrency. This has resulted in several cryptocurrency exchanges being hacked, and many traders losing their tokens. The value of several tokens has also taken a hit as a result of the bad publicity. But now the insurance industry is coming to the rescue.
Insurance for cryptocurrencies
Bloomberg has reported that several insurance companies are creating policies specifically for cryptocurrency traders and businesses. The only concern many have is the volatility of the cryptocurrency market. This volatility has led several insurance companies to charge up to five times as much for cryptocurrency insurance policies than other policies. However, this is bound to even out as more and more insurance companies enter the market. Competition between the companies will drive prices down to reasonable levels.
Who are the main insurance companies?
A spokesman for Allianz has expressed that the insurance giant sees cryptocurrency as a big opportunity. Allianz began offering solutions last year, and their services included covering the theft of cryptocurrency. Allianz sees that cryptocurrency is becoming increasingly relevant, and an integral part of the global economy. For this reason, they are only looking to expand their portfolio of insurance products.
American International Group is another insurance provider that has begun to include cryptocurrency assets in their standard policy forms. The oldest insurance market, Lloyd’s of London, has also published a statement that advises their agents on how to deal with cryptocurrency insurance. Lloyd’s have, however, advised their agents to proceed with caution, given the risks associated with the market.
Aon and Marsh & McLennan are two prominent insurance brokers that help individuals and businesses shop around for the best deals on insurance products. They both report seeing a large growth on the horizon. Marsh & McLennan has even created a dedicated team to deal with cryptocurrency startups that have launched their own ICOs. Meanwhile, Aon report that they have half of the cryptocurrency market covered.
No payouts just yet
Because the concept of cryptocurrency insurance is still brand new, there has not been any instances of payouts yet. However, this is set to change this year, as hacks are predicted to be ramping up. Not all insurance policies are equal either. Some include loss of tokens due to technical errors in a blockchain service but exclude the theft of cryptocurrencies. Cryptocurrency exchanges like Coinbase, however, have secured great insurance policies in order to protect the traders.
Are you thinking of taking out a cryptocurrency insurance? Let us know in the comments!
If you’re into trading with cryptocurrencies, then you probably have a hardware wallet to store them in. For the uninitiated, however, the market for hardware wallets can be difficult to navigate. In this article we’ll take a look at four of the most popular hardware wallets on the market right now, and look at the features of each one.
Coolwallet S
The Coolwallet S is a fascinating invention. As opposed to most other hardware wallets, it has been designed to be thin and small enough to fit in your actual wallet next to your credit cards. It also comes with an e-paper display (like the first Kindle e-readers) that allows you to view your balance and make transfers when you are out and about. The wallet supports the most popular cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple. The best part about the Coolwallet S is that you don’t even need a computer to use it. Simply download the Coolbitx app for your phone, and you can connect to the wallet via Bluetooth.
Ledger Nano S
If you are looking for a hardware wallet that can hold the largest number of different cryptocurrency tokens, then you should check out the Ledger Nano S. Ledger, the French company behind the wallet, are constantly adding support for new cryptocurrencies. They add new tokens so often that they have even made a hashtag to go with the regular expansions. #FirstTuesdayCrypto is used on the first Tuesday of every month when Ledger adds support for new tokens. The first expansion under this hashtag included rather obscure tokens like RSK, Kowala, Ontology, Vechain, Icon, PoA, Wanchain, and Particl. Naturally, all the most popular tokens like Bitcoin and Ethereum are covered. What’s more, all ERC20 tokens are covered as well. This means that the Ledger Nano S can hold most tokens created by ICOs. There has been some criticism of the software, but it has not stopped the wallet from gaining in popularity.
Keepkey
A lot of people want to get into cryptocurrency, but feel like they are lacking the technical knowledge to understand it properly. Keepkey is a hardware wallet that is designed with those people in mind. It works straight out of the box, and is durable enough to withstand being dropped and thrown around. It is not as practical as the Coolwallet S and can’t hold as many different kind of tokens as the Ledger Nano S, but it’s simplicity is a strong selling point. More importantly, however, there is no issues with connectivity like there is with the Ledger Nano S. Keepkey supports the most popular cryptocurrencies like Bitcon, Ethereum, Litecoin, Dogecoin, and Dashcoin. Like the Ledger Nano S, Keepkey also supports ERC20 tokens, so you can use it to hold most ICO generated tokens. The parent company of the Keepkey manufacturer is Shapeshift, so the wallet is also integrated with their software.
Trezor Model T
The Model T from Trezor is perhaps the best cryptocurrency wallet if you are concerned about safety. The Trezor Model T has a wide range of security features that will put your mind at ease. Some of the featured includes a bootloader that is write protected, and that verifies all firmware signatures. It also supports BIP39 passphrases.
As cryptocurrencies become an increasingly more integrated part of everyday life, many traders and tax professionals are asking themselves how to deal with the tax questions. Starbucks will begin to trail the acceptance of cryptocurrency payments in November this year, so there will definitely have to be some hard and fast rules put in place soon. However, the US tax authorities have not yet made any official statements to address the questions on cryptocurrency and taxes. Fortunately, there are already a few answers to be found from those who have taken the time to look into the matter.
A quick summary
For the uninitiated, the world of cryptocurrency can still seem slightly confusing. So if you have been hesitant to get into the crypto-trading game, then a bit of background might be helpful. Cryptocurrency was created in the wake of the 2008 financial crisis and gained in popularity due to the loss of trust in the mainstream banking system. Some of the earliest cryptocurrency tokens were Bitcoin and Ethereum. Since then, a multitude of different tokens like Litecoin, Ripple, Monero, and others have come into circulation. There are currently over 1,500 tokens on the market. Given that the market cap of the most popular tokens like Bitcoin is in the billions of dollars, questions about the taxation of trading in them will naturally emerge.
Cryptocurrency is currently treated as property
The term cryptocurrency is at the moment a bit misleading for tax purposes. The reason for this is that it is in fact considered to be property rather than currency. In other words, trading in cryptocurrency is more akin to trading in assets and real estate than it is to foreign exchange of fiat money.
Transactions are taxable
Any transactions made with cryptocurrency are taxable events and must be recorded in the same manner as other transactions. All receipts must be kept and included in the taxable income for the year. One can wonder if this means that businesses are able to expense business related transactions with cryptocurrency as well?
Taxes depend on the nature of the token
Whether or not the exchange of cryptocurrencies is taxable depends on what the given token means to the holder and taxpayer. For some, this can be a capital asset. For others, it can be property or inventory.
Cryptocurrency mining is taxable
Cryptocurrency mining is the process of validations cryptocurrency transaction in exchange for a proportional amount of that cryptocurrency token. Given that this is essentially providing a service in exchange for payment, it is considered a taxable income if you make a profit. In order to report these profits to the tax office properly, the fair market value of the cryptocurrency token needs to be added to your gross income. Whether or not you perform your mining activities as self-employed or as part of an organization needs to be reported as well.
Salaries and one-off payments can be taxable
If you are working for someone on a freelance or permanent basis and get paid in cryptocurrency, these payments could also be taxable. If the payment amounts to more than $600, then it should be reported to the IRS.
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Today we are going to bust some myths about cryptocurrency. Many people are under the impression that it is either too late to invest, too dangerous to invest, too difficult to invest, or that the market is about to collapse. None of the myths are of course true, but let us have a look at four of them to make sure.
The logo of Bitcoin (virtual currency) is pictured on a door in an illustration picture taken at La Maison du Bitcoin in Paris July 11, 2014. REUTERS/Benoit Tessier
Is it too late to invest?
The value of different cryptocurrency tokens has been going up and down for quite a while now. Many of the most popular tokens, like Bitcoin and Ethereum, have been on a steady incline overall. This has led many to believe that they have missed to the chance to invest, as the tokens are worth too much now. However, we just need to look at the rise of Bitcoin to almost $20,000 in December 2017, just for it to crash and burn. Now it is has climbed back up from $6,000 to around $8,000. Had you invested in early 2018, you would have many a good profit. Even if the most popular tokens are too expensive to invest in, there are 1,500 different cryptocurrency tokens out there — and counting. There is ample opportunity to invest in many new and exciting opportunities.
It technical knowledge required?
There is a common misconception that in-depth technical knowledge is required in order to invest in cryptocurrency. Of course, in order to be able to work as a developer on a blockchain project, you would need this kind of knowledge. But in order to trade in the tokens themselves, this level of knowledge is not required. Just like you are able to confidently trade in Google shares without understanding their search engine algorithm, you are able to trade in cryptocurrency without understanding cryptography. This does not mean that you can enter the market with a blindfold. It is still important to read up on different tokens and keep an eye on the market movements.
Is the market about to collapse?
Many people in the current financial establishment have said bad things about cryptocurrency. The CEO of JPMorgan has for example called Bitcoin a fraud last year. This year, the very same JPMorgan was very enthusiastic about blockchain technology. The facts about cryptocurrency have not changed, but the opinions of many people have. Of course, there have been scammers and criminals in the cryptocurrency space, just like there are in any other industry. But since governments around the world have begun to impose regulations, they have more or less been weeded out. And as more sector, like health care, are beginning to explore blockchain, it will only become a more popular phenomenon.
Is cryptocurrency dangerous?
As mentioned, there have been some scandals involving the hacking of cryptocurrency exchanges. This has put some people off of trading due to security concerns. Again, these securities have already been addressed. It is not very difficult for traders to protect their assets if they ensure that no one else has access to the key to their digital wallet. It is very much like keeping the PIN number for your credit card safe, to use an analogy. Even if people are concerned about the safety of using a digital wallet, there is always the option of cold store their cryptocurrency tokens on an offline hard drive.
AligatoCoin ICO Review
Technological progress and innovation is moving along at a neck-breaking speed. We have gone from dial-up modems and brick-size mobile phones to wifi and smart watches in a couple of decades. Commerce is changing as well, and high street shops close as ecommerce stores take over the market. Even ecommerce itself has undergone many changes, and now several projects are aimed at utilizing blockchain technology to improve it. AligatoCoin is one of those projects, but what the team has put together goes above and beyond the blockchain. In this review we will look at some of the fascinating features Aligato offers, and how they all fit together to form a very ambitious project.
What is AligatoCoin?
Aligato is a very ambitious project that sim to revolutionise ecommerce. The features are many, and the technology that will be used on the platform is nothing short of cutting-edge. AligatoCoin will utilize blockchain technology, artificial intelligence, delivery drones, iris scanning for transactions, and much more.
Aligato’s ecommerce platform
The team behind the Aligato platform wants to help usher in the next era of ecommerce. According to their white paper, ecommerce is an industry that is very adaptable in terms of incorporating new technology like the digital ledger system. Aligato wants to build an ecommerce platform using blockchain technology, in order to let users enjoy all the benefits that come with such a system. That includes full transaction transparency, added security, and faster and cheaper payments.
Aligato’s artificial intelligence
Along with the benefits of blockchain technology, Aligato also wants to utilize the wonders of artificial intelligence to facilitate the ecommerce system. AI will be able to streamline customer support, marketing campaigns, and help analyze customers buying patterns. The AI will also enable the deployment of delivery drones, which we shall get to in just a bit.
Aligato’s Pay via Eye system
One of the most interesting features of the Aligato platform is perhaps the Pay via Eye payment system. As the name implies, it uses the eyes of the customer to facilitate the transaction in a secure manner. This is not a groundbreaking concept, given that Samsung phones already have iris scanners and Apple’s iPhones have fingerprint scanners and facial recognition software. But it has not been used for ecommerce purposes before. With blockchain transactions already being more secure than existing payment methods, the Pay via Eye system adds an extra layer of security for customers and merchants alike.
Aligato’s delivery drones
Once an order has been placed and the payment has been made, it is time to deliver the parcel to the customer. Here Aligato is also very forward-thinking in their approach. By utilizing commercial delivery drones, they can automate the delivery process as well. Amazon has already rolled out test delivery drones across the United States, so this is not a completely new concept either. But the team behind Aligato has taken great care to research not only the technology, but also public opinion on delivery drones. Their white paper meticulously details the scientific research, as well as some of the risk factors that might be involved.
The key features of Aligato
The main concept of Aligato is to create a fully automatic ecommerce ecosystem that will help propel the world of ecommerce into a new era. In addition to the underlying blockchain technology, the artificial intelligence, the delivery drones, and the unique payment system, Aligato also wants to build warehouses that run on renewable energy. To further accommodate customers, Aligato will also introduce a digital wallet for them to store their cryptocurrency tokens in.The Proof-of-Stake also allows holders of ALC tokens to receive a portion of the profits made by the company.
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Cryptassist ICO Review
Cryptocurrencies are still somewhat of an intangible substance to most people, despite digital tokens having been around for almost a decade. The many new technological concepts and slang words being thrown around in the crypto community make it difficult for the layperson to get involved. Many are also apprehensive because cryptocurrencies are still not in wide use on the high street yet. Quite a few ICOs have attempted to address this problem by offering cryptocurrency payment cards, and easy-to-use trading apps. But few have managed to put everything together in one place.
What is Cryptassist?
This ICO is definitely one of the most ambitious ones around. The team behind Cryptassist wants to create a one-stop hub for everything related to cryptocurrency. That includes exchanging, trading, education, collaboration, communication, gaming, and, of course, spending. Cryptoassist is a platform that will comprise of no less than 25 different apps, so users will have access to virtually all aspects of cryptocurrencies.
Cryptassist Debit Card
The Cryptassist debit card will have the same utility as a regular Visa/Mastercard, but with the added benefit of being able to store 50 of the most popular cryptocurrencies. When the debit card is used to make a transaction, the Cryptassist application automatically converts the cryptocurrency to fiat money.
Cryptassist Exchange
Naturally, Cryptassist also comes with its very own cryptocurrency exchange, that will allow users to make conversions into different cryptocurrency tokens.
CryptoGo
Similar to Pokemon Go, CryptoGo is an augmented reality game in which players can discover hidden cryptocurrency tokens in their environment. It is meant to entice more people to join the world of cryptocurrency, as they will actually earn the tokens they find.
Multi-coin block explorer
This app is essentially a search engine that allows users to find the transaction histories of multiple coins at the same time, rather than having to search multiple blockchains individually.
Cryptassist OTC
The platform also comes with a feature that helps eliminate risk for cryptocurrency traders. Cryptassist OTC is an escrow system that helps out people trading in altcoins.
Cryptstarter
Crowdfunding is a great way to kick-start projects of any kind, and Cryptassist comes with its own crowdfunding tool called Cryptstarter.
Cryptassist Freelancer
In addition to crowdfunding, project developers using Cryptassist might also want to hire freelancers for a particular project. The Cryptassist Freelancer app allows for just that.
Trading Tools
Trading in different cryptocurrencies will also be made much easier with the trading solutions offered by Cryptassist. With tools that make calculations on behalf of the trader, even beginners will be off to a good start.
CTA Tokens
All the apps and features of Cryptassist will be based around the native CTA utility token. Users of Cryptassist will pay for the various services using CTA tokens, and freelancers or players of CryptoGo will be paid in CTA tokens as well.
Conclusion
Crypassist is genuinely an exciting project. Having so many tools gathered in one place will make entering the cryptocurrency industry infinitely easier for beginners. More experienced crypto-fans will also find this to be an intriguing and helpful tool. Although we only covered some of the interesting apps in this review, there are many more exciting features for you to explore if you decide to invest in the Cryptassist ICO. From a business perspective, it will also be interesting to see how well competing for blockchain projects will fare against Cryptassist. Although many of the features in Cryptassist, like the debit card and the exchange, are present on other cryptocurrency platforms, none have managed to pack this many different apps into one single platform. This is ultimately what makes Cryptassist so impressive.
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What is the World Ethical Data Forum 2018 about?
World Ethical Data Forum 2018 is the first of its kind and is a conference centered around the issues of data protection and blockchain technology. As the name implies the main topics with be focused on the moral and ethical implications of Big Data and the distributed ledger systems.
A conference of this kind is very much needed in today’s society, where more and more of our lives (and thus our data) is taking place online.
The recent Facebook scandal involving data leaks from Cambridge Analytica is a sign that more needs to be done when it comes to protecting the data of online users and consumers. The digital ledger technology offers some solutions to this problem but is far from a perfect system given that the technology and surrounding industry is relatively nascent. The decentralized and trestles networks facilitated by blockchain technology is undoubtedly powerful. However, there is a certain responsibility that comes with this power, which needs to be addressed. In order to tackle these issues, and put forward possible solutions, the World Ethical Data Forum will bring together some of the brightest heads in the blockchain space.
They will give talks on topics such as the emerging government regulations of ICOs and cryptocurrency trading, the pros and cons of blockchain technology, new ways to deal with peer arbitration, how to best incorporate blockchain technology into business, and the general ethical risks associated with all of these topics. The World Ethical Data Forum will take place at The World Trade Centre in Barcelona, Catalonia, Spain on the 8th, 19th and 20th September 2018.
Which topics will be discussed at World Ethical Data Forum 2018?
Ethical debates in the cryptocurrency space have almost been constant for the past few years. The industry has been marred by the accusations of facilitating criminal activities, such as scams, fraud, money laundering, and even illegal substance trade.
This has led to many firms such as Facebook, Google, Twitter, and Reddit to place bans on the advertisement of ICOs and cryptocurrency trading. Governments around the world have subsequently begun to impose regulations of the market in order to remove the shadier elements of the industry. Lawmakers, however, are not experts on blockchain technology, and thus their regulations have received a lot of criticism for being too broad and heavy-handed. In some cases, the regulations have not even been able to tackle the issues they were designed to. This is why the World Ethical Data Forum is such an important event. Only by having experts and enthusiasts in the same space can productive debates take place. The outcome of these conversations will prove invaluable to legislators around the world who are concerned with their efforts to rein in the blockchain industry. More specifically, the topics that will be covered include the ethics of artificial intelligence (AI), Big Data, the privacy issues associated with it, and how a decentralised system can be used to remedy the existing concerns. These areas develop so rapidly that it is almost impossible for legislators and regulators to keep up.
Who is behind World Ethical Data Forum 2018?
The host of the World Ethical Data Forum is a tech startup by the name of VN3T. Daniel Brace, who is their Director of Business Operations, has expressed his enthusiasm for this brand new event. Brace has said that there have not been any similar opportunities for experts in the fields of the blockchain, AI, Big Data, and distributed computing to have these discussions. Brace also stresses the importance of this event, as new data regulations like GDPR also have to be taken into account. Essentially, there is a lot happening in both the innovative as well as the regulatory spaces, and the World Ethical Data Forum is the perfect opportunity to bring it all together.
Why should you attend World Ethical Data Forum 2018?
There are many reasons to attend the World Ethical Data Forum if you are involved in any industry that utilizes blockchain, AI, Big Data, or distributed computing. The event will allow you to take part in discussions that address the most cutting-edge technologies, and your contribution could prove incredibly important to the future of privacy and data.
You will also be able to meet some of the thought leaders in their field, and network across industries. If you own or represent a business, this event will also help you position yourself as someone on the forefront of new technological innovation and debate. As someone who is affected by the moral implications of Big Data, you will furthermore be able to help shape your own future, as the policies and regulations will influence us all. Finally, you can join in as a speaker on stage, and share your wealth of knowledge with the rest of the World Ethical Data Forum.
Who will be speaking at World Ethical Data Forum 2018?
There will a host of great speakers at the World Ethical Data Forum. Over 50 experts and pioneers in the fields of AI, blockchain technology, Big Data, and distributed computing. The event will also see over 500 attendees, all deeply involved in these industries. Among the impressive speakers who will grace the stages is Chris Cleverly, who is the Executive Chairman of Block Commodities. Philippe van Nedervelde, the CEO of E-Spaces, will also be speaking, as will Katia Lang, who is the CEO of Fintech Times. You can view their profiles below.
Chris Cleverly (Executive Chairman, Block Commodities)
In addition to leading Block Commodities, Chris Cleverly is also a member of the International Tribunal for Natural Justice. His work focuses on reforming the current systems so that they will ultimately become more ethical. Some of his humanitarian work includes working with African farmers to ensure that they are able to afford seeds and fertilizers.
Philippe van Nedervelde (CEO, E-Spaces)
As the CEO of E-Spaces, Philippe van Nedervelde specializes in bringing the ideas of the future into the present. E-Spaces is a company that works with virtual reality (VR) and augmented reality (AR). Through their work, the Philippe and E-Spaces want to turn all the sci-fi concepts we know from TV into a real tangible experience.
Katia Lang (CEO, Fintech Times)
Fintech Times is a global news outlet that focuses on the world of financial technology. As the CEO of Fintech Times, Katia Lang is one of the people who know the most about the latest development in that space. This makes her an incredibly knowledgeable speaker on the subjects of blockchain technology and cryptocurrency. In addition to heading Fintech Times, Katia has also helped start Disrupts Media Limited.
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Opera is a popular, albeit not a very mainstream web browser. It gained its popularity by pioneering features like pop-up blocking, browser tabs, re-opening closed pages, and private browsing. It also incorporated a virtual private network (VPN) into the browser a couple of years ago. The main features that Opera’s 322 million users seem to value relate to privacy and security. It comes as no surprise, then, that Opera would eventually move into the blockchain space. Now it has just announced that it will be launching a cryptocurrency wallet as a new browser feature.
A crypto-wallet in your web browser
Previously, cryptocurrency holders had to install an extension to their web browser in order to use their wallet online. This is something Opera aims to do away with this hassle by integrating the cryptocurrency wallet directly into the browser. Opera has previously integrated other apps, such as Facebook Messenger and Whatsapp, into the browser. This was well-received by their users, which is why Opera has decided to take this next step. The company aims to play an important part in making cryptocurrency payments mainstream. Spokespeople have said that Opera aims to be at the forefront of innovations, and this latest addition to the browser is sure to put the browser head and shoulders above its competition.
How users can access their wallets
Cryptocurrency wallets in Opera have already been rolled out on the mobile Android version of the browser this July. Currently, the cryptocurrency wallet add-on will only be extended to PC desktop users. As with the Android version of the wallet, the PC desktop version will be secured by what Opera calls ‘user-control’. This means that any keys and p[asswords are stored on the phone itself, rather than on a centralized server controlled by Opera. Given that the Android phone browser will synchronize with the PC desktop browser, the PC version will also be using the same system as the phone version. In order to access the cryptocurrency wallet, users can also use their fingerprints if their phone has this capability. To access the desktop version of the wallet, users simply scan a QR code with their phone just like when they use the desktop version of Whatsapp.
Limited support – for now
The latest add-on from Opera will not be rolled out to all devices. It is currently only available to Android and Windows users, which means that all the Mac people will have to exercise some patience. Furthermore, the wallet will only support Ethereum at the time being. ETH, ERC-20 tokens and ERC-721 collectibles will be covered by the Opera wallet. However, the team has expressed a desire to expand the utility of the wallet by including more cryptocurrency tokens in the future. Another great addition to the browser was the inclusion of an anti-cryptojacking software earlier this year. Not only will Opera users enjoy privacy and security, but now also cryptocurrency payments.
What do you think will happen to other web browsers? Will Safari, Chrome, Edge, Firefox, Tor, and all the others follow suit? What more would you like to see Opera add? Leave your thoughts in the comments below.
How do you determine the value of a cryptocurrency token? The value of tokens has been a constant subject of debate in the industry since the emergence of cryptocurrency. To traders and investors, it might seem pretty straightforward.
To the layperson, however, it might seem complicated due to all the business jargon being thrown around to explain the market fluctuations. What we do know is that the price of a given product does not necessarily translate into actual value. Two cars can be of the same quality, but with different price tags despite offering the same value. So what determines the value of a cryptocurrency? The price seems to jump up and down on a regular basis. Experts and journalists have tried to explain this phenomenon by pointing to positive and negative news stories, investor temperament, and other factors that could influence people’s perception of a given cryptocurrency. But as an investor, you would benefit more from paying attention to the market capitalization.
What is market capitalization?
On the stock market, market capitalization is used by investors to help them make informed decisions on their investments. Determining the market capitalization (or market cap, for short) of a public company is quite simple. First, you find out what the price of one share is, and then you multiply the price with the number of shares in existence. So if the price of a company share is $1 and there are 1000 shares in existence, then the company’s market cap is $1,000.
The exact same method is used to determine the market cap of a cryptocurrency. If a cryptocurrency is being sold for $1 and there are 1000 tokens in circulation, the cryptocurrency has a market cap of $1,000. This means that two cryptocurrencies with different price tags can still have the same market cap. If Cryptocurrency A has 1000 tokens in circulation at price of $1 each, the market cap is $1,000. If Cryptocurrency B has 2000 tokens in circulation at the price of $0,50 each, the market cap is also $1,000.
How to use the market cap to inform your investment decisions
When investors look at which companies to invest in, they typically categorize them as small, medium, or large cap. The market cap category tells you something about the size of the company, its stability, and its growth potential. Large corporations like Apple and Microsoft are categorized as large cap. This means that they are stable companies and a safe bet for investors. However, it also means there is not a lot of growth potential, which means that whatever yields gained from trading in their shares will be minimal. Small startup companies, on the other hand, will typically be categorized as small cap. This means that there is a certain amount of risk that the company will fail, the shares will lose their value, and your investment will be lost. On the other hand, it also means that there is a huge potential for growth and that you will make a large return on your investment if the company succeeds.
How does this translate into the cryptocurrency market?
Using the information above, we can now look at how to use market capitalization to inform your investment decisions in the cryptocurrency market. If you take Bitcoin, for example, you are looking at a market cap of around $136,000,000,000, as there are approximately 17,000,000 Bitcoins in circulation valued at around $8,000 each. Bitcoin is the first and to this date most popular cryptocurrency, and as such are classed as having a large market cap. This becomes even more apparent when you look at competing cryptocurrency tokens. The top 100 cryptocurrency tokens all have a market cap of around $55,000,000. You can see how Bitcoin has a market cap many times the size of even the most popular cryptocurrencies. As an investor, this means that while Bitcoin is more stable than these other coins, you a less likely to make a huge profit from trading in it. You can gain far more from trading in the tokens with a smaller market cap, but also risk losing your investment if those coins fail.