Bitcoin News — Coinmarketcap

Blockchain Firm Upgrades App in Quest to Reduce Fatal Air Accidents

Posted by Connor Blenkinsop on

A blockchain platform which aims to improve flight safety upgrades its app for pilots and engages in “intensive interactions” with aviation authorities around the world.

A fledgling blockchain-based company which aims to improve flight safety is gearing up to launch an upgraded version of its app for pilots – software that has been designed to replace the old-fashioned paper logbooks currently used by aviation enthusiasts and professionals.

Aeron estimates that 57 percent of aviation accidents can be attributed to human factors – and poor record keeping is often to blame. The company says it is possible for pilots to manipulate records and exaggerate their experience, while airlines may underreport flight hours to save on maintenance costs.

Aeron has been working to implement blockchain into existing aviation safety protocols to stop vital data from being lost, distorted or forged. Over time, it is hoped that this will help to reduce the number of fatal accidents in the world’s skies substantially.

In March, Aeron launched the first iteration of its mobile app for pilots on Apple’s App Store and Google Play – enabling them to record their flight hours on blockchain instead of paper and earn the full confidence of prospective employers and aviation authorities. This month, new features are being added so the pilots can create and submit flight plans – detailing the intended route and other flight details, bringing convenience to the pilots of small aircraft and flight school students. In a blog post, Aeron said that this upgrade was in response to suggestions from the community, adding: “Furthermore, statistical summaries will be introduced, offering more insights into the pilot’s experience.”

The company has also revealed that it has had “intensive interaction with aviation authorities in various jurisdictions, primarily in the European Union.” It is hoped that a specialist portal where a pilot can submit logs online, with authorized officers viewing and processing records, will be launched in the spring of 2019.

Negotiations and deals with authorities are expected to be forged in 2019 as Aeron pursues business development in Europe, the Middle East, and Africa.  

Marking a milestone

Aeron’s token, ARN, took off on Nov. 1, 2017 – and since then, the company says its currency has been flying high. On the anniversary of its launch, the company revealed that ARN had achieved a global monthly volume ranking of 39, based on CoinMarketCap stats.

This, in part, is because of its utility as a payment method in the Pilot Shop powered by Aeron, where customers can buy branded accessories and aviation supplies. It is expected that fresh merchandise is going to be added to the platform later this year – and other payment methods in the online shop include Bitcoin, Binance Coin, Ethereum, Litecoin, and Bitcoin Cash.

Aerotrips.com, which is the name of its subsidiary website, is also a marketplace for reserving private flight experiences, with Aeron describing the platform as “an online portal and aggregator for aviation that gives special attention to private flights and individual pilots.”

Broadening horizons

The company is also widening its scope further and aims to offer benefits “to anyone who flies, including passengers of commercial airlines.” Aeron introduced a new platform called CryptoBonusMiles (CBM), which will enable frequent flyers to collect bonus miles in a single unified wallet and receive crypto rewards whenever they hop on a plane, in addition to the perks they receive from conventional loyalty programs offered by major airlines.

Ahead of the release of an alpha version of the CryptoBonusMiles platform, Aeron has announced an airdrop of CBM for current holders of Aeron (ARN) tokens.

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

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Review: 7 of the Best Cryptocurrency Widgets for Webmasters

Posted by Kai Sedgwick on

Review: 7 of the Best Cryptocurrency Widgets for WebmastersWhen you’re running your own website, widgets are the final piece of the puzzle, as these simple lines of HTML or Javascript code can be used to pull in custom content from third-party developers. Placed judiciously in sidebars, footers, and anywhere else there’s a space to be filled, widgets can make your homepage feel like […]

The post Review: 7 of the Best Cryptocurrency Widgets for Webmasters appeared first on Bitcoin News.

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Bitcoin Shows New Resilience as Markets Shake off Futures Settlement

Posted by William Suberg on

Calm continues to reign over cryptocurrency markets despite Bitcoin futures settlement deadlines coming and going.

Bitcoin futures may have expired, but even that failed to produce volatility in cryptocurrency as markets remained flat Saturday, Oct. 27.

Coin360

Market visualization from Coin360

Data from CoinMarketCap and Coin360 confirm that the end of the trading week – and with it the payment date for CME Group’s Bitcoin futures – had essentially no effect on either Bitcoin (BTC) or altcoin prices.

The behavior marks a stark contrast from just several months ago, with impending futures previously sparking losses in the run-up to their settlement date.

On Friday, Cointelegraph had noted that Bitcoin volatility had hit an 18-month low amid mixed forecasts about the 2018 bear market ending in the short term.

At the same time, commentators have claimed that a surprise uptick could well hit the crypto-economy unannounced, independent of the impact of institutional investors entering the space, something expected in the first half of next year.

For the meantime, BTC/USD remains tightly rangebound, at press time trading at $6,482 and hardly moving over the past 24 hours.

BTC

Bitcoin seven day price chart. Source: CoinMarketCap

The story has broadly repeated across the top twenty altcoins by market cap, altcoin leader Ethereum (ETH) also seeing hardly any up or down activity since Friday.

Support at $200 has held, ETH/USD climbing ever so slightly to hit $204.36 at press time.

ETH

Ethereum seven day price chart. Source: CoinMarketCap

Elsewhere in the top twenty coins, Stellar (XLM) has seen above average movement, down 2.37 percent on the day to press time.

Another exception is 17th ranking coin NEM (XEM), which has seen 2.36 percent losses to trade at $0.09.  

The total market capitalization of all cryptocurrencies has seen almost no change over the past 24 hours, let alone the past week, stagnant at around $209 billion.

Global

Total market capitalization of all cryptos seven day price chart. Source: CoinMarketCap

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CoinMarketCap Excludes Some Tether Data After Clarification by Bitfinex

Posted by David Floyd on

A CoinDesk report regarding a misleading data point on CoinMarketCap has led to a change in the way tether trading volume is calculated.

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Crypto Exchange Bitfinex Denies Allegedly 'Fake' Tether Volumes Listed on CoinMarketCap

Posted by Marie Huillet on

Major crypto exchange Bitfinex has responded to a recent media report that accused the exchange of publishing trading volume data from “a market that doesn’t exist.”

Major crypto exchange Bitfinex has responded to a recent media report that accused the exchange of publishing trading volume data from “a market that doesn’t exist,” in a tweet posted Oct. 23.

The controversy centers on an article from crypto media outlet CoinDesk, which had alleged that Bitfinex’s data on popular crypto statistics aggregator CoinMarketCap (CMC) was misleadingly inflated by reporting on a stablecoin Tether (USDT)-U.S. dollar trading pair, which as of press time appears to account for $33,598,474 — or 18.30 percent — of a total 24-hour traded volume of $182,742,351.

The article had argued that since the exchange does not provide a USDT/USD trading pair, this was an intentional strategy to make it appear as though a large volume of such trades were occuring on the exchange. In fact, Bifinex users are only able to deposit and withdraw both Tether and U.S. dollars through their accounts, rather than execute such trades.

A representative from CMC disclosed that the data was derived from Bitfinex’s in-house public application program interface (API), and was represented in CoinDesk’s article as being “confused” herself as to the meaning of the data point.

Bitfinex has tweeted its response to clarify its position, with a link to the original CoinDesk article, stating that:

api.bitfinex.com/v1/movement_volume/tether … is the sum of USDt dep/wds to/from Bitfinex. We are not ‘publishing’ fake numbers; the API method is called ‘movement_volume’ and isn't part of our ticker API. Not pushed by us, pulled by CMC. Another not-so-brilliant example of anti Bitfinex/Tether FUD.”

The API link that was provided by both the exchange and CMC’s representative to Coindesk does not lead to a live website as of press time. On Bitfinex’s website, it is noted that some parts of the API may require authentication.

Bitfinex has not responded to Cointelegraph’s request for a live link by press time.

Bitfinex has recently been prompted to deny rumors that it was “insolvent” or facing banking issues in response to reports that its banking partner, Puerto Rico’s Noble Bank International, was seeking a buyer and had lost both Bitfinex and affiliated firm Tether as clients.

The following week, the platform temporarily suspended all fiat wire deposits without providing a specific reason, although it had acknowledged in its prior statement that “complications continue to exist” for Bitfinex “in the domain of fiat transactions.”

The exchange’s circuitous history of banking relationships dates back to April 2017, when U.S. bank Wells Fargo & Co. allegedly refused to continue operating as a correspondent bank. Bitfinex then filed a lawsuit against the bank that was quickly dropped.

Tether, for its part, has faced repeated criticisms of inadequate transparency over its claims to be backed one-to-one by the U.S. dollar, with some going so far as to accuse the firm of covering up an alleged fiat reserve deficit in complicity with Bitfinex.

The rumors intensified when Tether allegedly dissolved its relationship with a third-party auditor this January. However, an unofficial audit in June reported that Tether did have the appropriate amount of dollar reserves held in an unnamed bank.

Crypto investor and entrepreneur Michael Novogratz recently remarked on the Tether transparency controversy just as the stalwart coin had briefly lost its U.S. dollar peg, at one point trading as low as $0.91, amid reports of investors’ “loss of faith” in the asset.

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