Bitcoin News — Telegram

The Daily: Coinbase Reportedly Cuts Staff, Telegram Loses Appeal Against Ban

Posted by Lubomir Tassev on

The Daily: Coinbase Reportedly Cuts Staff, Telegram Loses Appeal Against BanIn this edition of The Daily, we cover reports that the U.S. exchange Coinbase has laid off some of its remote workforce. We also look at news that Bitfury is considering holding an initial public offering like Bitmain. Also, a court in Moscow has reject an appeal against the ban imposed on the popular messenger […]

The post The Daily: Coinbase Reportedly Cuts Staff, Telegram Loses Appeal Against Ban appeared first on Bitcoin News.

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Telegram to Debut ‘Test Version’ of Blockchain Platform TON ‘This Autumn,’ Say Investors

Posted by William Suberg on

Plans to release a test version of Telegram’s TON blockchain platform were confirmed by investors this week.

Encrypted messenger service Telegram will release a test version of its blockchain-based TON platform “this autumn,” Russian media outlet Vedomosti reports Tuesday, Oct. 16.

Speaking to the publication, investors “confirmed” the authenticity of a circular sent to participants in TON’s Initial Coin Offering (ICO) at the start of September.

In the circular, the company said that the platform’s blockchain component was currently under development, with “70 percent” of the product already finished, the publication claims.

Once in operation, TON will also make use of its in-house cryptocurrency, Gram, and will form a “new way of exchanging data.”

Telegram attracted considerable attention earlier this year when it raised almost $1.8 billion in investments for TON and its current messenger app via two private ICO presales.

Following the success of the fundraising, in May executives subsequently cancelled the planned public phase of the ICO.

At the time, Russian media also speculated that authorities’ attempts to block access to Telegram altogether for the country’s residents was a result of the ICO and plans to release Gram, rather than the official explanation that the service flouted data sharing laws.

CEO Pavel Durov declined to comment when asked by Vedomosti to confirm the TON release timeframe.

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‘Everyone Is the Bank’: Blockchain Network Allows Anyone to Launch Their Own Coin

Posted by Connor Blenkinsop on

A blockchain network is enabling anyone to create their very own coin, which can be easily exchanged for other cryptocurrencies and fiat money.

A new blockchain network believes its platform offers the “next step” from Bitcoin – speeding up transaction times and giving crypto enthusiasts the chance to change between different digital currencies with ease.

In a bid to reduce the delays that some transactions on blockchain face, Minter claims it can process them in five seconds flat – meaning thousands of transactions per second can be completed without delays or additional confirmations.

Minter hopes to stand head and shoulders above the competition by giving anyone the opportunity to create their very own cryptocurrency and set a price for it. These coins can then be exchanged for other assets including Bitcoin and Ethereum, in addition to fiat currencies such as US dollars.

The startup claims that all of this is achieved with a transaction fee that’s below $0.01, and it hopes to drive forward its offering through a “large community of users and developers” who are invested in helping the platform thrive.

Three main goals

Minter says it has been established with a triad of objectives in mind. Firstly, it wants to ensure users have access to an easy-to-own cryptocurrency that is optimized for everyday use. The company has also concocted the irresistible notion that “everyone is the bank,” meaning anyone can issue and manage their own currencies. Minter also prioritizes liquidity, and says “every coin should have instant and absolute liquidity.”

At the beating heart of Minter is a native token known as Blockchain Instant Payment (BIP). As well as having “a lot of competitive advantages over common coins,” the startup claims it has the potential to distinguish itself from mainstream financial institutions. While the commission charged on transfers through the likes of PayPal and old-fashioned banks can be as high as 5 or 10 percent respectively, Minter says that BIP’s costs are less than $0.01 – or sometimes even free. Whereas a bank transfer can take days, its payment solution wraps things up in five seconds. And while Ethereum and Bitcoin are not mobile-ready, Minter’s platform is.

The company argues that its solution is necessary as certain platforms are never going to change. Its white paper explains: “PayPal will always have a high commission as its main goal is to protect buyers across the globe; banks will never be able to speed up transfers as they are all just too different and need intermediaries to facilitate payments.”

Integration with Telegram

The blockchain has recently announced that it is integrating with the Telegram Open Network – enabling Minter users to transfer any coins issued on its network to TON’s blockchain. With one of the services Telegram plans to roll out, TON Payments, Minter users will be able to send and receive micropayments in Minter-based coins using the Lightning Network.

This is the latest announcement to be made about the cooperation of Minter and Telegram. Early adopters of the blockchain network have been able to pass “know your customer” procedures via Telegram Passport in the space of a few minutes, which was marked by Telegram on its official blog.

Once Minter officially launches, the platform is planning to hold what it describes as “the largest airdrop in Telegram’s history” – with users receiving BIP and other Minter-issued coins worth almost 1,000 Bitcoins – for those who sign up before October 31, 2018. In addition, the project is offering a 25 percent bonus to all users who top up their balance until October 19 2018, 19:00 UTC.

In its white paper, Minter says it is passionate about teaming up with TON because its founders, Pavel and Nikolai Durov, are “vocal advocates of freedom and independence.”

The startup wants to be developer-friendly, enabling new apps to be built, to push the platform forward. Other features include usernames as addresses, meaning that crypto enthusiasts will no longer need to memorize long strings of random characters whenever they want to complete a transaction, and future compatibility with payment systems such as Apple Pay and Android Pay. Minter plans for BIP tokens to be gradually released over a seven-year period.

 

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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BCH Devcon Streamlines Bitcoin Innovation in San Francisco

Posted by Jamie Redman on

BCH Devcon Streamlines Bitcoin Innovation in San FranciscoOn Wednesday and Thursday Bitcoin Cash developers gathered in San Francisco for the first of many BCH Devcons hosted by Bitmain’s blockchain development fund Permissionless Ventures. A slew of teams participated in the three-day hackathon resulting in two big winners who took home 15 BCH worth of winning prizes. Also read: Russian Crypto Groups in […]

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Research: $20 Billion Raised Through ICOs Since 2017

Posted by Ana Alexandre on

A recent study by Autonomous Research has revealed that ICOs raised $20 billion since the beginning of 2017.

Initial Coin Offerings (ICOs) have raised $20 billion since the start of 2017, which is $18 billion more than the previous year, according to a recent study by financial research firm Autonomous Research. The study dubbed “Crypto Utopia” explores the cryptocurrency industry over the past year, focusing on ICOs and the regulation to which they are exposed.

Per the study, $12 billion has been raised through ICOs in the course of 2018, while last year they raised $7 billion. The ICOs of blockchain protocol EOS and messaging app Telegram are responsible for almost half of all ICO funds in 2018 at $4.2 billion and $1.7 billion, respectively.

Though over 300 crypto funds have been launched to invest in crypto assets, a vast majority of funds are concentrated within a small minority of organizations, according to Autonomous.  

The research notes that ICOs are often exposed to fraud and scams, which form 20 percent of project white papers, while phishing and hacking are responsible for stealing 15 percent of all crypto assets by market capitalization. More than 50 percent of ICOs have failed to raise funds and subsequently have closed.

2017 saw over $7 billion of investment flow into ICOs, which is fourfold greater that equity investment in crypto companies. Many ICOs were purportedly launched to take advantage of the “goldrush,” subsequently resulting in quality and regulatory concerns regarding tokens.

Price performance for the top 200 liquid coins during the last 1.5 years has reportedly demonstrated an unprecedented surge, from 10 to 1 million percent. The authors of the study suggest that such a performance shows exponential software-like growth for digital currencies.

The study states that  venture and trading funds are “the most numerous and hold the most assets under management.”

Another study by Autonomous Research published last month stated that funding in ICOs has seen its hardest slump in 16 months, stating that in August startups raised $326 million, which is the smallest amount since May 2017.

In August, ICORating published a study showing that the ICO market more than doubled in a year. ICOs in Q1–2 2018 had already raised over $11 billion in investments, a figure which it purports is ten times larger than the sum of investments from ICOs in Q1–2 2017.

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