Ripple CTO Proposes ‘Deletable Accounts’ On The XRP Ledger (XRPL) Via An Amendment Process

A new feature was proposed by Ripple’s CTO David Schwartz in the amendment process of deletable accounts. This feature will allow XRPL accounts to be removed from the ledger and recovers most of the reserve locked in the account to prevent spam.

In the past deleting accounts was impossible as an account always existed, said software engineer Nik Bougalis who is leading the C++ team at Ripple and drafted the spec for deletable accounts. But now, someone that is able to sign a transaction on the account can now delete that.

Amendment Process to Introducing New Features

Schwartz in his latest article, “Amendments: Ensuring Sensible Evolution of the XRP Ledger,” talks about one of the key governance mechanisms that XRPL uses, the amendment process.

Purposely designed and built for broad participation, the amendment system provides a means of “introducing new features to the decentralized XRP Ledger network without causing disruptions.” The system utilizes the core consensus process of the network to approve any changes. Schwartz said,

“The activation of any changes to the XRP Ledger protocol are coordinated by the community through this process.”

The Power to Coordinate Activation of Amendments

Amendments are now assigned to a feature discussed by the community to be introduced to the XRP Ledger (XRPL) which needs 80% support to enable it. The community is then given two weeks to voice their opinion on the amendment and if enabled, those who did not agree to will become ‘amendment blocked‘ —

“a security feature designed to protect applications that depend on XRP Ledger data.”

XRPL, Shwartz explained, is to provide a robust feature for the foundation of the digital asset XRP, in addition, to exchange digital token ad settling payments. Schwartz explained,

“The purpose of this amendment process is to empower the community to coordinate activation of amendments that do have broad support with minimal disruption and to avoid an accidental fork if servers do not agree on network rules.”

Validators can’t activate amendments that don’t have broad support. Previously, support for multi-signing, ledger’s on-chain escrow and payments channel features were enabled by amendments.

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Author: AnTy

Paxos Adds Auto-Conversion, Directly Swap Fiat To PAX or Binance USD (BUSD) Stablecoins

On Tuesday, Paxos announced the launching of a fresh feature which will enable customers to instantly wire transfer money from different deposit bank accounts directly to Paxos Standard as well as Binance USD. In reverse, BUSDor PAX received by the given Ethereum address will instantly be sent back to the client’s bank account in the form of USD, CoinDesk reports.

Paxos senior product manager, Zack Kwartler, explained that the new feature will be known as Auto-Transfers and will be available in all banks within the US. He explained that there is a need for blockchain-based financial solutions to be closer to the real financial world and Paxos is using this new feature to bring more dollars to the world of blockchain.

Kwartler also explained that Paxos want to change the narrative that stablecoins can only be used for crypto trading and show that they can help in payments as well.

Paxos has been aggressive in the introduction of new services and products in the market in the last few months. Last week, the firm introduced tokenized gold futures dubbed PAX Gold which is currently available on FTX exchange. Additionally, the firm was awarded a no-action license by SEC to enable it settle Equities products through a private blockchain.

The new feature will make it easy for traders to trade on both the PAXD and BUSD as well as open up the payment systems to the two stablecoins. It will now be easier for users to pay using the two stablecoins.

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Author: Joseph Kibe

Coinbase CEO Makes 11 Big Cryptocurrency Predictions for the 2020s

  • The 2020s is all about scalability and privacy feature, and consolidation
  • Just like dot com craze kicked off internet startups, this decade will see crypto startups
  • Crypto adoption in emerging markets will scale to hundreds of millions of users
  • Also, more than half of the world’s billionaires will be from cryptocurrency

Coinbase CEO Brian Armstrong has big expectations for this decade as reflected in his big 11 predictions.

According to him, we will see a more scalable blockchain in terms of layer two solutions with privacy features with about 1 billion users by the end of the decade.

Scalability he says means new applications will start to develop more rapidly. As for privacy, it will be integrated into “one of the dominant chains in the 2020s,” projects Armstrong adding a “privacy coin will also get mainstream adoption”.

While some will gain a lot, consolidation is also in order. Coinbase CEO said,

“We will see consolidation of chains (in developer mindshare, user base, and market cap) in the decade to come.”

This will mean, those that make the most progress will see most gains. And those that don’t will get consolidated which could take the forms of M&A and even a reverse-fork. According to him, there will be many tokens but only a handful of chains.

The Rise of Crypto Startups, just like the Internet Startups

Speculation and investment contribute the most to the crypto activity and this is expected to continue in the 2020s. But the best new companies would be that will be about driving the utility phase such as staking, borrow/lend/margin, debit cards, earn, and commerce, he said.

As such, we will see the rise of the crypto startup, just like we saw internet startup idea kicked off by the dot com craze. These startups, Armstrong says will raise money using crypto, issue tokens to early adopters, and bring together global communities and marketplaces at a pace not seen with traditional startups.

But they will also evolve to resemble the market structure of the traditional financial world that will mean SEC or others would create a crypto index fund for retail investors.

Crypto Adoption in Emerging Markets

As for adoption, it will happen in emerging markets where the “existing financial systems are a much bigger pain point,” has high inflation rates and large remittance markets. Armstrong who also founded GiveCrypto predicts,

“In the 2020’s, I think we will see cryptocurrency adoption in emerging markets scale to hundreds of millions of users, with at least one country ‘tipping’ so that the majority of transactions in their economy happen in cryptocurrency.”

What Will Drive the Demand for Crypto assets?

Most crypto startups will not be the only ones to embrace crypto but larger institutions will also come on board. Another of his big prediction for the next decade is:

“Most funds will keep a portion of their assets in cryptocurrencies, partially due to the uncorrelated returns. Something like 90% of the money in the world is locked up in institutions, so this will likely drive a lot of demand for crypto assets.”

Governments will also join-in in a big way. China has already made its move, the US could also implement their own digitized dollar using blockchain or turn to USD Coin, envisions Armstrong.

Over half of the World’s Billionaires will be from Crypto

Overall, decentralization, crypto-to-crypto, will grow into a separate world. Here, DEXs, Dapps, DeFi, and non-custodial wallets will grow and will be regulated like software companies, he forecasts.

As decentralized crypto-economy grows, it will really start to move the needle on global economic freedom.

And “more than half the world’s billionaires will be from cryptocurrency,” is what Coinbase CEO sees in the 2020s.

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Author: AnTy

bitFlyer Europe Introduces “Instant Buy” Feature to Create a Simpler, Convenient and Transparent Crypto Experience

On Thursday, December 5, crypto exchange, bitFlyer announced the launch of their Instant Buy feature, the latest of their updates, on its Buy/Sell exchange platform. This feature enables users to make crypto investments using their credit or debit cards or by simply using local transfer methods.

According to the Co-Head and COO of bitFlyer Europe, Andy Bryant, this feature sets well with the organization’s goal of promoting convenience when it comes to investing in cryptocurrencies while promoting simplicity and a sense of secureness.

That said, the feature is said to resemble what users are already accustomed to in today’s society. He said:

“By making it similar to that of a traditional e-commerce experience, we are helping [to bring] cryptocurrency to a mainstream audience, while also giving experienced users a faster and simpler way to get their currency.”

Accessible on both desktops and smartphones, the feature is deemed beneficial to those looking for an all-in-one solution to purchase, store and secure their investments, getting hold of assets at predefined prices from the bitFlyer platform, and fees are said to be as transparent as they could get.

Speaking of fees, Bryant spoke with news outlet, The Block, disclosing that the transaction fees for processing credit card payments are 1.95% + €0.25/ transaction and for else methods, 1.95% + €0.30.

Besides Europe getting access to the Instant Buy feature, bitFlyer Japan recently added trading support for the XRP token because it stands as the second-largest cryptocurrency in Japan.

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Author: Nirmala Velupillai

DappRadar Releases A Full EOS Tracker, Revealing $1 Billion In Hidden Volume; ETH And TRX Coming Soon

DappRadar, the ranking and tracking site for decentralized apps (dapps) on the EOS blockchain has added a new feature which now monitors the volumes of both EOS as well as tokens developed on the EOS platform, Decrypt reports.

According to DappRadar, other sites that tracks the volumes of the EOS crypto do not track the value created by the trading of tokens which are not native to the blockchain such as tokens which are traded on decentralized exchanges or ones that are used in game currency.

DappRaddar claims that the phenomenon presents about 25% of volume into the EOS blockchain which goes unaccounted. As per today’s total trading volume which is $12 million, whereby, $9 million represents the EOS while $3 million is for other EOS based tokens.

According to DappRadar’s brand communication manager, Jon Jordan,, this represents an underestimation of the EOS ecosystem by about $1 billion. To arrive at the figure, Jordan multiplied $3 million by 365.

Jordan also explained that DappRadar will henceforth rank EOS dapps as per the total volume of the entire EOS-backed tokens going through smart contracts. He explained:

“This will greatly increase the transparency of value creation on the EOS blockchain, especially for decentralized exchanges that support the trading of EOS-based tokens.”

The latest announcement comes as a major boost for decentralized exchanges within the EOS platform that trade more tokens other than EOS. Prior to the new update, DappRadar realized that Newdex exchange had about $1.8 million worth of EOS trading volume every day but after the update, the value surged by a further $1.6 million worth of trading volume per day.

DappRadar also gave another example of Wild-West game Prospectors that utilizes an EOS-based Prospectus Gold (PGL) that was not present for ranking. The addition of the token brought about $3000 worth of extra trading volume every day.

In due course, DappRadar says it is planning to launch the new feature in Ethereum as well as other blockchains.

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Author: Joseph Kibe

Breez Enables Credit Card Use When Buying Lightning-Powered Bitcoin Now

Breez, a new payment startup, has recently unveiled the latest feature of its project, which is set to allow lightning-based BTC purchases directly from its app. These purchases are only possible because of a recent partnership that the company started with MoonPay.

The services will initially be available in a total of 35 different countries and have the goal of simplifying lightning payments.

In case you do not know, the Lightning Network is a layer 2 scaling solution for the BTC network. It was launched at the beginning of 2018 and it has gone quite a long way so far in fixing these problems despite a rocky launch. The technology is still experimental, but it is starting to shape up as a great solution.

According to the CEO of Breez, Roy Sheinfeld, this may even look like a somewhat simple achievement, but nobody has done it before.

Since the start, Breez was always about being more than a simple wallet, the service was meant to be a “holistic experience”, Sheinfeld affirmed. It needs to be UX focused and to provide solutions that no one has been able to provide before in order to make its clients happy.

Before now, the users needed to buy BTC before they could enter the Lightning Network and then move the BTC from its normal wallet to an LN wallet. This new option cuts time and allows the users to enjoy a more streamlined experience.

According to Sheinfeld, users will not need to verify any information if they want to buy less than 150 EUR worth of BTC. To buy more than that, they would need to pass a Know Your Customer (KYC) verification first.

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Author: Gabriel Machado

OX Price Prediction: Long-term (ZRX) Value Forecast – June 23

  • Trading operations between ZRX and the US dollar still feature around the same last range zones.
  • The ZRX/USD market may have to face a correction if it tries to swing northward further around the upper range mark at $0.40.

ZRX/USD Long-term Trend – Ranging

  • Distribution territories: $0.45, $0.50, $0.55
  • Accumulation territories: $0.25, $0.20, $0.15

The market of ZRX/USD had made a record of higher lows between June 16 and 20. And between June 21 and until the present, the crypto valuation has continued to move in a range showing short ups around $0.35 price territory.

On June 22, the pair like in many other crypto-economies, dropped southwards to test its lower range market at $0.35 mark. As at now, the market is fluctuating above the SMA indicators. The Stochastic Oscillators have slightly crossed to point to the north.

he ZRX/USD market hasn’t gained a clear indication to suggest a definite price direction for this crypto-trade. By that sentiment, this week’s sessions have the probability to witness a continuation of choppy market movements around the same last range zones characterized by $0.40, $0.35, and $0.30 price lines. The upper range spot of the market seems to be the point that a correction will be made while a sudden spike occurs or the market trades around it in the long run.

0x:

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[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: Azeez Mustapha