Xsolla announced the launch of two new gaming Cryptocurrencies MobileGO (MGO) and GameCredits (GAME). These will provide a unique ecosystem for developers to manage financial transactions at a faster speed. Now developers will be able to receive royalty payments for their games in MGO currency. The payouts will be made on a sliding scale percentage that developers choose. GAME will work as Bitcoin of the gaming industry to become the most trusted Cryptocurrency of this sector.
In terms of crypto regulation, the Spanish Congress has indicated the unanimous support for a draft regulatory framework to regulate blockchain technology and cryptocurrencies. The draft initiative suggests that the state cooperates with CNMV and bank of Spain to coordinate a common regulatory stance on crypto in the broader European context.
Bytecoin (BCN), known as the first cryptocurrency that implemented CryptoNote technology, is now live for trading on the Chinese crypto exchange Gate.io.
The cryptocurrency, Bytecoin, continues its expansion on the Asian market after successful listings on both Binance and Okex earlier this year, and Gate.io is the logical continuation of BCN’s approach to be presented on more reputable exchanges.
This event reflects on the adoption rate of the first, privacy-oriented cryptocurrency between Chinese users, as Gate.io mostly suits traders from this region. In addition, Bytecoin has also adapted their ecosystem for Korean and Japanese users by translating the web wallet into their respective native languages. Moreover, this wallet also contains the ability to purchase BCN with Bitcoin and Ethereum, which makes owning the coin much easier.
One more fact which supports the necessity of the Bytecoin listing on Gate.io, is the ability to use OTC (over-the-counter) exchange for Chinese users, which simplifies access to BCN for some traders. In addition, Gate.io has mobile applications for both iOS and Android, which makes trading smoother and easier, as the only thing that the trader needs is a phone with an internet connection.
Bytecoin was originally launched in 2012 as the first privacy-focused cryptocurrency based on the CryptoNote technology, with such features as unlinkable transactions, untraceable payments and scalable blockchain.
After the continuous flat for the last months, Bytecoin has shown stable growth caused by listing on Gate.io and increased its rate by 15% on September 28, according to coinmarketcap.
Gate.io has started in 2017 and has since that time gained noticeable popularity in the crypto community for the variety of features, such as robust security system, mobile apps, and smooth interface.
Recently, DaoCoin announced its plan to open its stablecoin issuance infrastructure to qualified partners.
DaoCoin is an issuance infrastructure for fiat-backed cryptocurrency. The issuance infrastructure includes; a global network of fund management nodes consisting of multiple third-party trust companies; a blockchain-driven AML/KYC framework supported by global regulators; live APIs for real time token-fund-matching disclosure and auditing mechanism to ensure full reserve; a set of streamlined, customizable ecommerce-style widgets to issue and redeem fiat-backed cryptocurrency.
With this open infrastructure, any qualified third-party can issue its own brand of stablecoin, a special type of crypto-asset that maintains a stable value against the target price of fiats (e.g. USD) or assets (e.g. Gold).
DaoCoin is not a stablecoin, however, it offers the infrastructure to produce stablecoin. More importantly, it produces stablecoin that addresses the transparency and efficiency issues of existing stabecoins (such as USDT and Dai)
USDT is issued by Tether pegging US dollars with a centralized solution. USDT has been criticized for opaque costs and processes, causing doubt as to whether USDT is fully backed by fiat. MakerDao deploys a decentralized method to create a stablecoin Dai. Note that it is not collateralizing with USD, but instead with Ethereum. Since ETH is volatile it requires $150 to create $100 worth of Dai.
Here is how DaoCoin addresses transparency and efficiency at the same time.
Funds are held by third-party trust companies worldwide and audited by top accounting firms on a regular basis. Community operation and reserve management are completely independent, where a mature trust mechanism is applied. Prestigious international third-party trust companies are employed to manage and ensure 100% security of the reserve. Real time information disclosure on Fund-Token matching is available through the API and website. Records of issuance and redemption may be tracked in the blockchain and are open to all community members. DaoCoin provides real-time updates of reserve assets data such as transaction history, account balance, etc. Trustworthy third-party auditing bodies are employed to conduct strict audits. They publish monthly audit reports to ensure transparency and openness in asset management.
To improve the efficiency of legal clearance and flow of funds, DaoCoin has established a worldwide network of AML checkpoints and fund-processing pipelines. Per customer region, DaoCoin can auto-switch between nodes for the most efficient choice, allowing it to be constantly up-to-date and not reliant on a centralized server system. Also, DaoCoin has adopted a Delegated Proof-of-Stake strategy, allowing KYC/AML cleared key partners to cash in or redeem in real time.
As well as leading in transparency and efficiency, DaoCoin is the first community-governed cryptocurrency. DaoCoin issued its own ERC-20 governance token, DaoCoin Power (DCP). Holders of DCP exercise voting right and obtain gainsharing, DaoCoin will also reimburse fees paid for minting and redeeming tokens in the form of DCP.
DaoCoin is currently in collaboration with multinational retail chains and international commodity traders to help them issue their own brands of stablecoin.
Company name: DaoCoin
Company site: http://daocoin.money
Company contacts: email@example.com
Ethos has announced the partnership with Voyager Digital to build a best-in-class Fiat Gateway into our flagship product, the Ethos Universal Wallet. This partnership will offer all users access to exchange functionality utilizing their liquidity network. CEO Shingo Lavine will be joining Voyager as an advisor. This announcement formalizes the relationship between Voyager and Ethos.
Pesamill Africa founded by Brian Ngugi is a peer-to-peer and centralized exchange which has launched its services in Kenya expanding the already growing Cryptocurrency culture in the country. It aims to solve some of the major problems that face global crypto exchanges such as KYC requirements, Security and risk which lie in the Cryptocurrency environment.
We need to discover a new system for the cryptocurrencies and address the problems. We need time to revisit the restrictions and limitations of established systems. The regulations of the currencies by the government are features and not bugs. The virtual currencies are in no way a replacement for the actual currencies and it is due to the government control.
Blockchain is supposed to make it possible to keep an updated database without having a central authority in charge. As of now, Walmart data is being stored in IBM’s computer and cloud. But this has led to questions as to why a distributed blockchain is even necessary. Many stated that the idea is good but the execution is the one that’s the problem.
Major league Italian soccer club Juventus will launch its own Cryptocurrency known as Juventus official Fan Token. The product of a partnership with Blockchain based fan engagement platform Socio.com aims to release in Quarter 1 next year. The Juventus club ranks top in Italy and number two worldwide. This will enable fans to be involved via a mobile voting and polling platform.