Justin Sun of Tron Talks to LongHash in Interview About Crypto’s Slower-Paced Adoption Rate

Justin Sun of Tron Talks to LongHash in Interview About Crypto's Slower-Paced Adoption Rate

Theories regarding electricity were already published by the 1600s. However, electricity was not in people’s homes until the late 1800s. Even today, there are millions of homesteads without electricity.

Similarly, cryptocurrency is a new invention and it will take some time before the public accepts this new form of currency. However, there has been steady progress over the past few years especially considering cryptocurrency came to the fore in 2009.

Since its inception, digital currency has caused a lot of fluctuations in the virtual asset economy while sparking some of the biggest debates of our time. A significant portion of people around the globe sees cryptocurrency as a more efficient means of managing their finances and making transactions or withdrawals in the digital era.

Others see cryptocurrency as a financial system setting itself up to replace paper money, but with too many risks thus hindering its widespread adoption.

What do the experts think?

In a recent interview by Longhash, Tron CEO Justin Sun claimed a proper lack of understanding when it came to cryptocurrency was the biggest cause of stagnated adoption. The interview was conducted on some of the most influential proponents in the crypto world who cited various barriers affecting the adoption of cryptocurrency.

Justin also stated that user experience as a way of attracting more people to the crypto industry was not good enough.

As opposed to recommendations from friends and reading other people’s reviews, the CEO encouraged budding potential crypto users to understand the digital currency from a fundamental perspective.

As such, they will know the benefits and cons of using cryptocurrency as well as its impact on the financial system in the future. Such information is vital seeing we are living in the digital age and automation is no longer a pipedream.

More people are learning

Tony Vays, a reputable crypto-analyst claimed the barriers that had been formed around digital currency earlier on are weakening as more people get a deeper understanding of Bitcoin (BTC).

BTC was one of the first cryptocurrencies to emerge and is a leader in the industry to date. According to Tone, the biggest barrier at the moment is misinformation. He claims the Bitcoin’s usability and wallets will get better over time.

The crypto-analysts also backs BTC to improve its interface and security as more people join the crypto world. Erik Voorhees, the CEO of ShapeShift added regulatory challenges as one of the biggest barriers when it comes to crypto adoption. According to Erik, financial institutions are still hesitant in the adoption of cryptocurrency due to the uncertainty surrounding it and its effect on the market.

Another industry leader Tyler Spalding, the CEO of Flexa also cited functionality and price speculation as a major hindrance to the global adoption of cryptocurrency. The CEO urges crypto creators to make the digital currency available to regular people and show its use in their daily lives.

Conclusion

Crypto adoption is a slow process but more people are realizing its importance by the day. Some outlets around the world are now taking payments in crypto coins while others are preparing to take the step.

If the issues discussed above are taken into consideration and properly handled, the stagnation witnessed currently in the adoption of digital currency will cease to exist.

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Author: Bitcoin Exchange Guide News Team

Skycoin Price Prediction Today: Daily (SKY) Value Forecast – June 4

Skycoin
  • Nevertheless, if the bearish trend is continuing, the price is likely to reach the 0.786 Fib. retracement level.
  • From the Fibonacci retracement levels, the price of SKY has broken the 0.236 and 0.382 Fib. retracement levels. These are continuation zone where the bullish trend can make an upwardmove.

SKY/USD Medium-term Trend: Bearish

  • Resistance Levels: $1.8, $2.0 $2.2
  • Support levels: $1.6, $1.4, $1.4

Yesterday, June 3, the price of Skycoin was in a bullish trend. The crypto’s price was making a series of higher highs and higher lows. On May 31, the crypto’s price rose to a high of $2.30 price level and was resisted. The market is on downward correction as at the time of writing, The bears have broken the 12-day EMA and the 26-day EMA to reach the bearish trend zone.

The crypto’s price is below the EMAs which indicates that price is likely to fall. From the Fibonacci retracement levels, the price of SKY has broken the 0.236 and 0.382 Fib. retracement levels. These are continuation zones where the bullish trend can make an upward move. The SKY price has also broken the 0.50 and 0.786 Fib. retracement levels.

These are zones where the current trend is assumed to have ben reversed. Nevertheless, if the bearish trend is continuing, the price is likely to reach the 0.786 Fib. retracement level. in other words, the price will reach another low at $1.40 price level. Meanwhile, the crypto’s price is in the overbought region of the daily stochastic but below 60% range. This implies that the crypto’s price is in a bearish momentum and a sell signal.

SKY/USD Short-term Trend: Bearish

On the 1-hour chart, the SKY price was in a bearish trend. The crypto’s price is in a smooth downtrend. The 12-day EMA and the 26-day EMA are  trending southward. The crypto’s price fell to a low at $1.63 which was the previous low of May 24. Meanwhile, the SKY price is in the oversold region of the daily stochastic but 40% range which implies that price is in a bearish momentum and a sell signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez M

Blockchain Firm AlphaPoint Reveals Telyatnikov as New CEO in Company Reshuffle

Blockchain Firm AlphaPoint Reveals Telyatnikov as New CEO in Company Reshuffle

Global asset tokenization software and digital trading technology company AlphaPoint has appointed President Igor Telyatnikov as its new Chief Executive Officer (CEO) after former CEO Salil Donde stepped down from the post.

Igor, being a founding member of AlphaPoint, has held various key positions over the years while contributing immensely towards the growth and expansion of the company. Notably, Telyatnikov is known for overseeing the revenue growth, business strategy, and customer success of AlphaPoint.

AlphaPoint is a prominent tech company which is known for creating key technological solutions for individuals and financial institutions around the world. The platform also provides opportunities for its clients due to its wide customer base and significant market stakeholders.

The company also revealed Joe Ventura, the previous Chief Technology Officer (CTO), as the new Chief Information Officer (CIO), while Kapil Rathi, the previous Global Head of Trading, will take the post of the Chief Operating Officer as it restructures its management and executive team. In addition, Former CEO Salil Dondeis expected to be a strategic advisor to the company

Experience; A Major Advantage for Telyatnikov

Before joining AlphaPoint in 2014, Telyatnikov had previously worked at online advertisement platform LiftDNA and investment firm Cvelto, where he served as managing director. Telyatnikov expressed his happiness and joy while speaking in an official statement, he was quoted saying:

“I am honored to take on the role of Chief Executive Officer. This is an incredibly exciting time for AlphaPoint given the growth we’ve experienced this past year.”

Telyatnikov will be tasked with the mission of ensuring that the real estate ecosystem continues to increase its access to liquidity and capital by ‘digitizing’ assets with the aid of blockchain technology.

“We continue to execute on our commitment to product innovation, leading-edge technology and world-class service for our customers. We have an outstanding team in place who delivers on this commitment each day and I’m excited about all we can accomplish going forward,” he noted.

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Author: Damola

Attackers Compromise 50,000 Servers Worldwide To Mine Virtual Currencies

Attackers Compromise 50,000 Servers Worldwide To Mine Virtual Currencies
  • Attackers are currently using new methods to infect users and mine virtual currencies
  • The methods used are becoming more powerful and damaging

According to a new report released by the Cybersecurity firm Guardicore Labs, hackers were able to breach over 50,000 servers around the world and start mining virtual currencies. This has been performed through an unusually sophisticated method.

Hackers Mine Digital Currencies After Massive Security Breach

As per the report released by Guardicore Labs on May 29, this large-scale malware attack was able to infect 700 new victims a day. There have been several targets, including firms in the healthcare, telecoms, media and IT sectors.

The cybersecurity firm was able to find 20 different malicious payloads in the malware over time. The report informed that new ones were created at least once a week. It was also possible for the attacker to install a rootkit that prevented the malware to be removed.

Guardicore explained that the attack used very sophisticated tools such as those that nation states use.

This shows that hackers and attackers are becoming stronger and more dangerous than never before. The firm informed that the package was written in Chinese and used Chinese language servers. The company explained in its report:

“The Nansh0u campaign is not a typical crypto-miner attack. It uses techniques often seen in APTs such as fake certificates and privilege escalation exploits.”

APTs are advanced persistent threats and they make reference to the way in which the attackers targeted its victims.

Before, these kinds of tools used by the attackers were only avialable to just a few parties. Nonetheless, this attack shows that these tools can now fall into the hands of less than top-notch attackers.

Moreover, the firm explained that strong credentials are vital in protecting companies’ assets and their integrity. This campaign also demonstrates that passwords comprise the weakest link in today’s attack flows, according to the report. Organizations should have strong credentials and network segmentation solutions to be protected at all times.

As we have written a short time ago at Bitcoin Exchange Guide, SIM swapping attacks have spread in the United States affecting a large number of users. One of the, a recognized developer, lost $100,000 he had on Coinbase due to these attack.

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Author: Carl T

Carrefour Reports How Blockchain Technology Is Helping Boost Sales Of Meat, Milk and Fruit

Carrefour Reports How Blockchain Technology Is Helping Boost Sales Of Meat, Milk and Fruit
  • Carrefour informed that their blockchain-tracked products are being sold faster than others
  • The goal is to include new products in this system
     

The giant French retailer Carrefour has experienced a boost in sales in some of its products due to the use of blockchain technology.

As reported by Reuters, the company has been using distributed ledger technology to track meat, milk and fruit from farms to stores. The goal is to extend it to more products in the future and increase shoppers trust.

Carrefour Improves Sales Using Blockchain Technology

Blockchain technology is helping Carrefour improve its sales of goods. Blockchain technology is allowing customers to have clear information regarding the products that the company is selling, which is very positive to increase their trust in the shop.

This allows individuals to know which are genetically modified goods, which use antibiotics or if they are harvested using pesticides.

Some of the food that Carrefour included in the first batch of blockchain-tracked products include chicken, eggs, raw milk, oranges, pork and cheese. This year is going to be adding 100 more products and it will be focusing on areas that consumers want to know more about.

This is not the first company that is working with blockchain technology. There are other firms that are also using distributed ledger technology (DLT) in order to ensure that products meet strict standards in the market.

Customers at the store can scan a QR barcode with their phone and know when they were harvested, the location of cultivation, the owner of the plot and more. According to Emmanuel Delerm, Carrefour’s blockchain project manager, the products with blockchain technology were sold faster than those without.

People in China, Italy and France have been testing the blockchain system implemented by the retailer.

People are interested in knowing the origin of the products, how animals were aked care and how they treat the fruits and vegetables harvested. Nonetheless, there are some challenges ahead for this product and system to be implemented in other places around the world. Indeed, Carrefour informed that there is resistance from farmers to share too much information.

In the future, the intention is to add more products such as clothes and add more information, including how much the farmer gets out of the shelf price.

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Author: Carl T

Brazilian Bank-owned Stablecoin BNDES Backed by BRL to be Used as Funding for a Documentary

Brazilian Bank-owned Stablecoin BNDES Backed by BRL to be Used as Funding for a Documentary

Brazillian National Bank for Economic and Social Development (BNDES) is funding a documentary using its ERC-20 token BNDES Token, according to reports by Cointelegraph in Brazil. The documentary is to be produced in collaboration with local cinema producer Elo Company.

The token which is based on the Ethereum blockchain is to be backed by the Brazillian federal bank that will eventually use the token for improved transparency in the bank’s financial activities. The token has reportedly been under development since 2018 and has had its first proof-of-of-concept in collaboration southeastern state of Brazil, Espírito Santo.

It would seem that Brazillian government is becoming very crypto friendly with the support it is giving BNDES Token. The new Brazillian president Jair Bolsonar also challenged a local cryptocurrency firm to create a cryptocurrency for Brazillians. Unlike countries like the U.S, Brazillian regulatory authorities and the central bank are aware of BNDES and are fully in support of it.

Venezuela is another South American country that has created its own cryptocurrency, Petro. The cryptocurrency which is backed by the Venezuelan oil reserve however has not been very successful as an option to the local currency the Bolivar. At least the country has been receptive to cryptocurrency like Brazil

So far, not many countries have accepted cryptocurrency for regular use, let alone approve the creation of its own cryptocurrency. The U.S has been in a struggle against cryptocurrencies for a long time and is still on. A parliament member of recent moved for the complete ban of cryptocurrency because it could take over the influence of the U.S Dollar.

With Brazil launching its own cryptocurrency, the country could soon become a hub for cryptocurrency startups like the Philippines. As the world tends towards digital currency, this could potentially be good development to the Brazillian government and its people.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Ponvang Bulus

Binance Tests New Stably StableUSD (USDS) Stablecoin Based On Its Blockchain Network

Binance Tests New Stably StableUSD (USDS) Stablecoin Based On Its Blockchain Network
  • Binance Is testing a new Stablecoin called BGBP
  • The exchange is also welcoming a new stablecoin for its DEX called USDS.B

Binance, one of the largest and most popular cryptocurrency exchanges around the world, has launched its own stablecoin called BGBP. According to CryptosBatman on Twitter, the new stablecoin could be used on Binance.je, Binance.com and also on its decentralized exchange (DEX).

Binance Launches New Stablecoin

The crypto exchange Binance seems to have launched a new stablecoin known as Binance GBP Stablecoin. The information was released by CryptosBatman on June 3. According to Changpeng Zhao, the CEO and founder of Binance, they have only minted £200 so far with the intention to test it and release a working and safe stablecoin.

The digital currency is going to be based on its blockchain network that was released to the market a few months ago and in which new projects are starting to build their platforms. At the moment, it is possible to see technical information about this stablecoin on this website. According to it, the coin was issued on June 1st.

At the same time, Binance decided to welcome a new stablecoin called StableUSD (USDS). Stably, a venture-capital backed startup, announced that it will be launching a new stablecoin on the Binance chain. The new coin is called USDS.B and it is going to be the first stablecoin launched on the Binance Chain.

According to Stably, they have decided to use the Binance Chain because it has a large number of benefits and improvements over other blockchains currently available in the market.

At the moment, there will be issued 90 billion tokens that are going to be backed 1:1 with US dollar reserves. Changpeng Zhao informed that this is going o be the first stablecoin on Binance DEX, even when it is not operated by Binance.

Although Binance was affected by a hack a few weeks ago, the exchange continues to expand and reach a larger number of users and individuals around the world. Binance Coin (BNB), the digital currency launched by the exchange, continues to break new records and it is currently traded close to its all-time high.

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Author: Carl T

How to Explain Bitcoin Completely in Just a Single Twitter Post? Best Tweets So Far

How to Explain Bitcoin Completely in Just a Single Twitter Post? Best Tweets So Far
  • Jameson Lopp issued a challenge to the cryptocurrency community on Twitter to define Bitcoin.
  • The challenge elicited both sarcastic and realistic responses.

The cryptocurrency community on Twitter is usually pretty vocal about any opinion that they have, but Jameson Lopp has issued a challenge. According to The Next Web’s Hard Fork, the cypherpunk decided to challenge the community with a task – explain Bitcoin with the 280 characters that Twitter allots to users.

There has been a few responses that are a bit more genuine, like this one:

However, there were others that chose the sarcastic route, as Bitcoin Core developer Eric Lombrozo said that Bitcoin is defined as “free Internet money that will make everyone rich.”

As the other creators in the crypto realm of Twitter caught wind of the challenge, they started to issue requests for their own communities to define their tokens. Alejandro De la Torre asked his community to define Bitcoin Cash “as completely as possible,” and it is clear that other people are taking on the challenge. However, the responses they received were hardly all positive.

It is worth noting that the actual differences between Bitcoin and the derivative networks – BCH and BSV. If anything, the block size limit is the most notable of any of these differences. The block size determines how much data can be used in a single block, and it has earned a substantial amount of controversy through the last decade.

Another user, Zack Voell, asked Crypto Twitter to chime in on why small blocks are necessary to the network, using the same limitations as the request for Bitcoin’s definition. Some responses were helpful, while others were more critical.

Presently Right now, the blocks from Bitcoin’s ledger are not meant to go beyond 1MB, though they have the capacity to reach 4MB. Even blocks that add up to 32MB in size are capable of being added to the blockchain for BCH, and the BSV blockchain even aims to make it possible to accept 128MB on the networks.

Some of the Twitter users were inspired by the cryptocurrency posts with other ideas – ranging from requests to define the meaning of love to explaining what the TSA does. As far as the original request regarding Bitcoin’s definition, Hard Fork believes that there appears to be a winner found – Jack Eldridge.

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Author: Krystle M

CosmosSDK has Anticipated Patch for Critical Security Vulnerability Found

CosmosSDK has Anticipated Patch for Critical Security Vulnerability Found

A recent post on the Cosmos Network Forum highlighted a critical security vulnerability. According to the post, the vulnerability was reported to the Tendermintn team.

It continues that a patch is available in v 0.34.6 of the CosmosSDK and that the patch is also “available now.” The platform intends to provide technical details concerning the vulnerability in 7-10 business days.

The timeframe is to provide a reasonable amount of time to harden their systems. The platform also notes that it is coordinating a hard fork for a Cosmos mainnet upgrade, and that it is also reaching out to validators to ensure that they will be able to respond during the network transition.

It also recommends that service providers upgrading full node update to the latest and most secure version of the CosmosSDK immediately.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

[Domain Disclosure] The crypto-community content sourced, created and published on BitcoinExchangeGuide should never be used or taken as financial investment advice. Under no circumstances does any article represent our recommendation or reflect our direct outlook. We b-e-g of you to do more independent due diligence, take full responsibility for your own decisions and understand trading cryptocurrencies is a very high-risk activity with extremely volatile market changes which can result in significant losses. Editorial Policy \ Investment Disclaimer

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Author: Bitcoin Exchange Guide News Team

Gate.io To Release Startup Discount Offer With First Project In Association With Lambda

Gate.io To Release Startup Discount Offer With First Project In Association With Lambda

Gate.io recently announced that they will be introducing their Startup Discount Offer and their first project will be with Lambda. The project with Lambda will be launched

Trading service will be enabled once the project fulfills its fundraising goal. In order to participate in Startup Sale, users will need to be a VIP. Participants will have a higher purchase limit with more GT holdings.

With the mission of promoting the decentralized development of the Internet, Lambda aims to build the storage infrastructure for Internet 3.0.

It is a safe, reliable and infinitely extendable decentralized storage network, whilst using data integrity and security verification as well as the operation of market-oriented storage transactions on the Lambda Chain consensus network, and provides the infinitely extensible data storage capacity for the new generation of value Internet.

Details Of LAmbda Startup Sale

The start time will be on June 3rd, UTC 4:00–6:00. The price and the number of orders of Startup Sale will be set 3 hours prior to the sale, based on the market price of GT/USDT within the 3-hour period. Each order is worth $100 — $200 USD, users can place one or a few orders according to the individual purchase limit.

Below is a chart that shows the purchase limit based on the different amount of GT holdings.

Users need to ensure there is sufficient balance (exceeding the purchase value) in accounts for the purchase after placing the orders. An insufficient balance will result in the cancellation of the purchase order.

They will be able to use each type of currency once only. After UTC 6:00, Gate.io will collect all the qualified orders and distribute the tokens according to the individual purchased orders: total purchased orders ratio. The final result will be announced at UTC 8:00 that day.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Sritanshu S