Litecoin Foundation Set To Allocate Unknown Amount Of Treasury To Celsius Network

Litecoin Foundation is set to invest its capital in another crypto lender to earn interest. According to CoinDesk, Litecoin Foundation is partnering with Celsius Network, a crypto lending firm, to become its ideal crypto wallet.

According to the partnership agreement, the Foundation is set to set aside an unknown amount of its treasury to Celsius Network whereby LTC holders are poised to earn about 10.53% per year back to their crypto holdings as well as dollar loans at about 4.95 percent annually.

According to Celsius Network CEO, Alex Mashinsky, the partnership will go a long way to validate the platform that says that it gives back almost 80 percent of the revenue generated to depositors.

The CEO hailed the deal as a great milestone for Celsius saying that this was the first time that the crypto community is identifying Celsius as major utility provider in the crypto sphere. Mashinsky said that this was a ‘huge event’.

Celsius generated $50 million during its initial coin offering that took place last year and so far the company has already completed about $2 billion in terms of loans. Additionally, the company has held about $350 million per year in terms of customer deposits and provided more than $3.5 million worth of interest.

Speaking to CoinDesk, crypto custodian company, BitGo, said that they held about $1 billion with Celsius crypto deposits in the last one year which represents more than double the amount that has been locked away in decentralized finance platforms.

Litecoin Foundation has been seeking partners in the last one year and has managed to add Miami Dolphins as a major partner and now has bagged Celsius into the partners mix.

In the last one year, Litecoin Foundation has been under intense scrutiny following the news that it was struggling to pay its employees. However, the foundation managing director and Litecoin founder, Charlie Lee has reteriated that he will continue funding the Foundation until its fully financially stable.

Lee has clarified that the partnership with Celsius was for the benefit of the investors as they will earn interest per year. The director also revealed that the Foundation has no intention of seeking out collateral based loans offered by Celsius.

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Author: Joseph Kibe

Stellar Foundation to Airdrop $121 Million Worth Of XLM Crypto Tokens to Keybase Messenger Users

Stellar Foundation is collaborating with messaging platform Keybase to reward Keybase clients for chatting with friends. On monday the two companies inked a deal of a 2 billion XLM airdrop worth about $121 million.

According to the announcement, this is the biggest XLM airdrop of Stellar’s five year existence. According to the agreement within the next 20 months, Keybase clients will be offered airdrops of about 100 XLM.

According to Keybase, it has 300,000 clients who are active in its different services and platform.

According to a blog post shared with CoinDesk, the clients will only need to have a valid Keybase account and the amount of XLM will automatically appear in their wallet. The XLM will appear on a monthly basis so long as the airdrop are in existence.

The company confirmed that the airdrops will be available for the next three months. However, the continuation of the program will depend on meeting various basic success metrics. According to Stellar Foundation CEO, Denelle Dixon, stated that Keybase is a crucial partner as the company pursues its adoption strategy He explained:

“The foundation’s mandate is to deliver lumens [XLM] into the world. This is part of that plan. The up to 2 billion is a really great way. And we will have checks along the way.”

The two companies are not strangers to each other as they have worked closely since March 2018 after Stellar invested heavily in Keybase’s Series B fund raising.

Dixon explained that Keybase is an example of what projects his foundation intends to invest in since Keybase have a lot in common with cryptocurrencies. He explained that the deal will allow Keybase users to know XML in details for the next 20 months.

The current airdrop comes days after Keybase upgraded various features after adopting Stellar in early May 2019. Using the Keybase platform, the users are able to transfer Stellar to various users or even phone numbers even those with no Keybase accounts. A spokesperson explained that Keybase is expected to include additional features in the near future that will comprise XLM payments.

The airdrop deal comes amid other rival messaging apps come up with their own crypto efforts. For instance, Telegram is expected to roll on its TON in the coming days while Facebook is set launch Libra.

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Author: Joseph Kibe

Foundation Says Developer of Zcash (ZEC) Violated Trademark Promise

A crisis is happening in the Zcash (ZEC) community. The nonprofit Zcash Foundation has recently accused the Electric Coin Company (ECC) of promising to let the foundation share its trademark and then backing down afterward.

According to the foundation, this has lowered the whole ecosystem to the level of “decentralization theater”. The people are at the foundation are so mad because the community has been awaiting a lot for this moment. The promise was originally made back in 2017.

Even during a recent convention, the CEO of the ECC Zooko Wilcox affirmed that both organizations were committed to be partners and to lead the way together. At the time, Wilcox affirmed that the trademark would be shared. This was only months ago. The CEO affirmed that the partnership would have long and good effects in the industry, so it is surprising so see the decision changing so much.

It seems that this event will deeply affect the Zcash community. The members of the foundation have complained that this decision will harm several projects that were being planned or developed and that this will harm the community a lot.

They have also argued that by arbitrarily holding the trademark, the company will have a lot of power and that the foundation will not lend its credibility to legitimize a process that was said to be hollow.

Finally, the foundation also criticized the ECC for its excuse to deny trademark sharing. According to the company, they envision “the evolution of alternative governance models”. This was written off as yet another hollow promise from a company that cannot be trusted anymore.

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Author: Bitcoin Exchange Guide News Team

Cardano Starts Partnership With Berlin-Based Konfidio Blockchain Studio To Boost ADA Adoption

The Cardano Foundation has recently started a new partnership with a German company called Konfidio. The main goal of this partnership is to help Cardano to get more adoption in crypto markets.

According to the official announcement, real business use cases will be built on top of the Cardano network. The first focus of the initiative will be to create new use cases for banking institutions, logistics and the pharmaceutical industry. After that, cases more focused on public services and the government will also be created.

Nathan Kaiser, the chair of the Cardano Foundation, has affirmed that the location of Konfidio is also very important. The company is based in Berlin, known as a major blockchain center that has a great relevance to the market. This will provide a strategic advantage to the Cardano Foundation.

The CEO of Konfidio, Mervyn G. Maistry, affirmed that the company is also very interested in this partnership. According to him, their current goal in this partnership is to increase the awareness of the protocol.

Konfidio intends to make sure that all corporations and startups in the region know about the potential of the Cardano tech and to help the community grow this way.

Charles Hoskinson, the co-founder of the Ethereum blockchain and Cardano as well, is the current CEO of IOHK, one of the companies that helps the foundation to run the Cardano protocol. He has recently affirmed that the version 1.6 of the token will be released soon and that this will improve the protocol in several ways.

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Author: Gabriel Machado

New Sun Network Will Go Live This Week With Unlimited Capacity, Will Tron’s TRX Benefit?

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Justin Sun, the famous founder of the Tron Foundation, has recently announced the launch of a new solution that will be called Sun Network. This is set to be a new scaling solution devised for the Tron network. It is set to be released this week.

According to Justin Sun, this new version will bring considerable improvements for the community as it can bring scalability up to 100 times. This, he affirmed, will be very important in order to help the developers who work in the creation of decentralized apps.

The official site of the new Sun Network affirmed that the fees can be as low as 100 times and that there will be some free transactions, as well as confirmation times that will be considerably improved.

What is actually the main announcement, though, is that the new technology will be used in order to allow unlimited growth for Tron. As with any current blockchain, Tron is prone to several issues with scaling, so if the solution is as good as advertised, the network will finally be ready for exponential growth.

Tron is far from the only company that has tried to invent new scaling solutions. Bitcoin has the Bitcoin Lightning Network and Ethereum has several new initiatives which are set to do the same. So far, none of them was completely successful. If Tron is actually able to do it, it can gain an important advantage when compared to other similar projects.

[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: Gabriel Machado

TRON’s DAppReview: Increased DApps and Transaction Numbers; All Pointing Towards Steady Pace Growth

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On Friday, August 2, 2019, the TRON Foundation made its Dapp Weekly Report available. The report, which assessed growth between July 27th and August 2nd, 2019 found that TRON DApps have increased within the past week, followed by transaction numbers, and smart contracts.

In particular, the total number of DApps comes out to 545, of which 24 were newly launched. Both DAppReview and DappRadar noted that the transaction number was three times more compared to the previous week. Similarly, established smart contracts now amount to 1114. In conclusion, the Foundation trusts that the TRON ecosystem is growing at a steady pace.

According to the TRON Ecosystem Experience Report, three DApps released this week were expounded upon. The first one is called, ‘CryptoFlowers,’ is a game that requires users to collect and reproduce flowers. Next, we have, ‘0xWarriors’, a multiplayer RP game that helps players manage and equipment groups of warriors with the necessary essentials.

Finally, there’s ‘Crypto Element’, which a collection game that promotes chemical elements carrying mineral properties.

In addition to the weekly report updates, the TRON Foundation has released a monthly report, where a throwback of sorts was put together to depict what the team has accomplished in the month of July. Some of these accomplishments were summarized in a video and included:

The launch of BitTorrent Speed, clearing rumors related to the “Super Wave Field Scam”, yet another BTT airdrop, the commencement of TRONClass, a TRC20 backed USDT Incentive Plan 2.0, and NordVPN’s listing of BTT.

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Author: Nirmala Velupillai

Tron (TRX) blockchain Introduces Just.Game and Eggie.World as the Count Reaches 519 dApps

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Tron Foundation are making it a routine to publish weekly reports on the progress in decentralized applications (dApp), technical developments, price state of TRX, partnerships, acquisitions, and user interactions. The practice is keeping the Tron community relaxed as they follow through with the developments of their favorite platform.

Recently, Tron Foundation celebrated the first anniversary of Tron’s migration from the ERC 20 standard to the TRC 20 standard. by releasing the long-awaited Bit Torrent Speed and Bit Torrent File System. The report further confirms the network has a total of 513 dApps, with two new gaming dApps announced too. We further look at the progress of the TRX token in the charts as the market continues to bleed following Bitcoin’s drop below $12,000 USD.

Tron Blockchain Report: The dApp Review

Tron (TRX) is experiencing massive growth, not only in price but in development and community interaction as well. The blockchain has registered over 30 decentralized applications in the past month, crossing the 500 marks at the end of June – currently at 519 dApps.

Steady increase in number of dApps on the Tron network (Image: Dapp.review)

The dApps racked in more than $11.5 million USD in the past 24 hours signaling a 45% increase in the volume transacted in the past 24 hours. The number of users also sharply increased in the past day with over 8,000 users added to the network in the past 24 hours – a total of 46,700 users across the dApps.

Tron blockchain shows healthy growth in a number of smart contracts launched on DappRadar with a total of 1033 smart contracts in the past week.

New dApps on Tron

Games and gambling sports are the top dApps on Ethereum (ETH), Eos (EOS) and Tron, the three largest dApp platforms in the world. Two more were added to the ecosystem as Tron welcomed Just.game – created by Team JUST – and Eggie.world.

Just.game is a unique game combining an economic mechanism with a novel game mechanism to ensure the fairness of the game is upheld. The creators of the game are well known for creating the FOMO 3D game. Eggie.world released its beta version on the website earlier this week revealing a collection game that requires the players to take care of an egg till it hatches. The egg can be trained and fed using any Tron based token.

TRX Financial Performance

The market is bleeding following Bitcoin’s price plummeting below $11,200 USD on Sunday 14th, 2019. TRX currently places 10th on the Coinmarketcap listings. The token trades at $0.028837 USD, representing a slight 1.5% drop in price in the past 24 hours. The market capitalization stands at $1,922,886,033 USD.

2Tron (TRX/USD) price chart since January 2019 (Source: Coinmarketcap)

Marcus Zhao, the technical director of the Public Chain Division of Tron (TRX) recently announced that the development team are closing in on releasing the anonymous payment system earlier this week This announcement comes a day after TRX gained addition on the Opera browser on Android alongside Bitcoin.

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Author: Lujan Odera

Cardano Allowed to Join CDF to Participate in Promoting Regulatory Guidelines

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Cardano Foundation is the latest highly-ranking company to join the Global Digital Finance (GDF). By joining the famous industry membership body whose core mandate is to preach about the need to embrace the best practices on crypto assets, Cardano expects to be part of the push.

According to the official announcement, Cardano was reportedly granted membership on Thursday having gone through every single step companies go through to be admitted. In the end, the Global Digital Finance, through their Twitter outlet, welcomed Cardano.

CDF Works Hard to Promote Adherence to the Best Practices for Cryptoassets

Global Digital Finance, or simply GDF, as it is popularly called, is an industry membership body based in London. It mostly creates a full code of conduct and work principles that govern token sales, tokenization platforms, funds as well as fund managers. The body also reviews members’ websites to ensure that they are always complaint with a particular set of standards.

GDF, however, doesn’t operate like a dormant organization in the crypto industry. With Teana Baker-Taylor as its Executive Director, Global Digital Finance regularly participates in popular meetups and discussions in the industry.

In fact, Baker-Taylor is set to be a panelist at the Barcelona Trading Conference slated for later this year. Others on the panel will include Rivver’s Samuel Katz, Agada Nameri from 21M Capital and the founder and CEO of Cytexlabs, Tomar Weiss. One of the key points they’ll be discussing is the legal landscape in the industry.

Being Part of Those Setting the Rules in the Industry

For Cardano Foundation, however, GDF isn’t the only organization is has joined. It is firmly in a host of GDF-allied working groups, especially those that are involved in all-things KYC/AML, custody, Stablecoins and all issues relating to security tokens. Cardano is also keen on being part of organizations working hard to promote integrity in the market and tax treatment.

Speaking after getting admitted to GDF, Cardano’s director of global PR, communications, and marketing, Bakyt Azimkanov said they would use the newfound collaboration to help further the body’s quest to create the best practices. He said Cardano Foundation would help strengthen the group’s ongoing push to initiate robust governance policies and improve the crypto asset market develop.

Cardano Foundation, alongside IOHK and EMURGO, is working hard to develop the Cardano blockchain further. The Foundation is also working hard to expand its reach and attract more crypto enthusiasts into its ecosystem.

Cardano’s founder, Charles Hoskinson, is optimistic that their project could even dwarf Facebook once they release their Blockchain products. At the moment, Cardano is banking on its partnership with AlgoZ to boost the liquidity of its native coin, ADA.

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Author: Lillian Peter