ChainLink Partners With Crypto.com to Integrate Price Feeds Into Its DeFi Wallet

  • Crypto.com has revealed that it has inked a deal that will lead to the integration of Chainlink’s price feeds with its decentralized finance (DeFi) wallet product.

On Monday, the wallet and payment card provider based in Hong Kong, stated that Chainlink’s Price Reference Data has been directly integrated with its DeFi wallet which will give its clients ready access for its price feeds.

The addition of Chainlink’s price feeds into Crypto.com’s DeFi wallet is in line with the latter’s expansion program towards booming spaces. According to Eric Anziani, Crypto.com’s chief operating officer, the partnership will add more value to its customers. Anziani explained:

“I would say with the partnership with Chainlink is kind of our first integration with a DeFi protocol, it brings value to our customers in terms of providing transparency in the prices that we’re giving them in our DeFi wallet and also making sure our ecosystem token CRO can be integrated into the external protocol by building a price feed for CRO specifically thanks to the Chainlink architecture.”

According to a press release shared with Bitcoin Exchange Guide, the firm will start with its native token in receiving the decentralized price feed, CRO/ETH but plans are underway for the addition of CRO/USD. Anziani clarified that the firm will kick off with DeFi tokens, however plans are underway to utilize Chainlink’s price feeds for the rest of the tokens within its ecosystem.

Anziani also explained that the expansion is not intended to take advantage of the current hype, but is driven by the basic belief that each person is entitled to have the control of their money, identity as well as data and the blockchain tech-based firms should lead towards this achievement.

Speaking on the recent controversy surrounding top exchanges listing the much-hyped SUSHI token, Anziani explained that his firm’s clients trust that Crypto.com has solid due diligence protocols before a new asset is listed which informed the firm’s decision not to list it.

Crypto.com rolled on its wallet at the start of this year touting it as a user friendly wallet to capitalize on the buzz around DeFi space.

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Author: Joseph Kibe

US Congressional Members Ask The Govt To Support Blockchain Tech For COVID-19 Relief

  • U.S. Congressmen lobby the federal government to increase support and hasten the integration of blockchain technologies across the economy to ease the effects of the COVID-19 global pandemic.
  • Blockchain technology innovations aimed at improving authorization of individual identity, supply chains, and medical registries.

A letter from lawmakers in Congress addressed to the US. President Donald J. Trump and directors handing the COVID-19 response strategies ask the top federal government executives to look into blockchain technologies as a solution to the pandemic.

According to the lawmakers (all members of the Congressional Blockchain Caucus) urge the use of blockchains to improve the country’s economic interactions, enhance digital identification, manage supply chains and ensure credibility in medical registries and certifications. The letter reads,

“The membership of the Congressional Blockchain Caucus urges your consideration, support, and implementation of utilizing blockchain technology that could greatly mitigate the effects of the Coronavirus.”

The members of the Congressional Blockchain Caucus who presented the letter are Bill Foster, Tom Emmer, David Schweikert, and Darren Soto – who lead the Caucus. Other members include Stephen Lynch, Warren Davidson, Jerry McNerney, Matt Gaetz, and Ro Khanna.

There is a growing need for verification and identity digitization as the world embraces social distancing. According to the statement, blockchains provide digital identity solutions that assist in authentication and verification of individuals, for example, when the U.S. distributed the CARES Package. Furthermore, blockchains offer strong encryption and a secure system hence protecting sensitive users’ data.

Blockchain can also improve the deployment of essential kits and medical equipment – especially during the times of the pandemic. These technologies could enhance the management of supply chains, identification of where supplies originate, transportation, and arrival times, the statement reads.

Additionally, medical registries, certifications, and licenses could all be deployed on a blockchain improving the medical field and professionals in the space. This could help these medical professionals securely and confidentially share critical information and deploy essential services in times of need.

This also points to the financial systems world whereby the U.S. Congress has continually called for more innovative technologies to be implemented to solve slow transactions and payments. In April, members of Congress reintroduced the “Digital dollar Act” to create a network of digital payments and distribute the CARES Act stimulus efficiently.

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Author: Lujan Odera

Gemini Adds Support for Hardware Security Keys on iOS, Android Mobile Apps

Gemini crypto exchange is boosting the security of its network following the integration of hardware security key support functions. This move is meant to make the Winklevoss run digital currency exchange more secure, given the history of hacks in the crypto industry. The new support function for hardware keys on the Gemini exchange will allow users to leverage added security from providers like Yubikey.

According to a statement on July 13, Gemini app users on both Android and iOS now have the ability to authenticate their login via Web Authentication (WebAuthn). This is a security interface that uses public-key cryptography to validate multiple users of internet apps. The statement reads:

“Gemini customers can now use USB and near-field communication, or NFC, security keys to sign into the Gemini Mobile App securely.”

The Two-Factor Authentication (2FA) Value

Gemini’s support for hardware security keys underscores the value of two-factor authentication. This initiative will prevent sim-swap attacks and possible hacks, as per Gemini’s prospectus. Only the hardware key owner can access their account even if their login credentials have been compromised.

Gemini has been working on this milestone in collaboration with Yubico’s Yubikey, a security provider whose services can now be integrated with the Gemini exchange.

“Yubikeys provide a secure, cross-platform solution you can use to access your Gemini account via our Mobile App, as well as any other sites that support WebAuthn.”

Gemini has since noted that users looking to take advantage of the new security features fully should register at least two hardware keys, one that is supported within their mobile devices and a cross-platform service such as Yubikey.

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Author: Edwin Munyui

Digitex Futures Exchange Becomes First Centralized Platform To Integrate Chainlink’s Price Oracles

  • Bitcoin (BTC) futures exchange, Digitex, announces its planned integration of Chainlink’s decentralized oracle system on its centralized exchange.
  • The integration of Chainlink becomes the first-ever integration of its kind on a centralized crypto futures exchange.

In an official press release on Monday, May 25, 2020, Seychelles-based Bitcoin futures exchange, Digitex, announced the integration of Chainlink’s decentralized price reference oracles in a bid to improve and support its internal index to prevent slippage on the platform. Chainlink’s integration on the futures exchange makes it the first centralized exchange to harness the power of the decentralized oracles.

Open finance platforms are the main users for the decentralized oracle system using Chainlink to match prices, recently SmartPy, a blockchain firm, announced the integration of the platform on Tezos. The tamperproof and reliable Chainlink price oracles will offer a back up to the Digitex crypto index in case the prices are too volatile from the average global price.

The price oracles will first be integrated into the BTC perpetual futures against the dollar (BTCperp/USD) and add more pairs’ price feeds in the future. Speaking on the Chainlink’s integration, Digitex CEO, Adam Todd said,

“Chainlink provides Digitex with highly reliable and transparent price feeds that protect our users against the negative outcomes of abnormal market conditions or internal complications.

Using Chainlink price data enables us to deliver stronger security and performance guarantees to our users, furthering our vision to revolutionize futures trading.”

Chainlink is a blockchain-based data oracle that allows users smart contracts to securely and transparently connect to off-chain data in real-time. Recently, the internet giant, Kakao blockchain project, Klaytn, announced the integration of the decentralized oracle to sync their smart contracts with external API’s and payment systems. They also launched Verifiable Random Function (VRF) earlier in May.

Chainlink’s LINK token currently trades at $3.88, representing a slight percentage gain over the past 24 hours.

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Author: Lujan Odera

US House Rep. Member Launches Bill to Promote National Advancement Of Blockchain Tech

The global digital technology integration race is on with leading states in Europe and Asia taking the first step in developing national blockchain strategies.

With the U.S. lagging behind, U.S. Representative for Kentucky’s 2nd congressional district, Brett Guthrie, presented a bill titled “Advancing Blockchain Act” to the Federal Trade Commission (FTC) to enhance the study of blockchain advantages across the economy and its uses across the states.

The “Advancing Blockchain Act”, presented to the House of Representatives by Rep. Brett Guthrie challenges the U.S. lawmakers to lay down the legal foundation for digital payments and blockchain technology adoption across the country.

The FTC is expected to complete the survey in about two years, with a further six months to give recommendations to the House Energy and Commerce Committee.

The issues highlighted in the bill include state-level adoption of blockchain technologies, legislative frameworks in the industry, development plans and risk-mitigation strategies on implementing blockchain, and overall business sector adoption across the country.

According to Guthrie, who introduced the bill on May, 20 with no co-sponsors, the quickened development of blockchain technology is key to enable the U.S. to compete with other countries such as China, which already announced its digital currency/electronic payment (DC/EP) program while taking major steps in integrating blockchain technology across the country. In a statement on why the American lawmakers should aim at implementing the law, Guthrie said:

“The ongoing coronavirus pandemic has made it clear that we need to maintain American leadership in technology. America is a nation of innovation and enterprise – and we need to keep it that way.”

The lawmakers seem to be taking keen notice of the crypto and blockchain field, with a total of 32 bills introduced so far in the U.S. 116th Parliament sitting.

There have been talks of a possible digital dollar to support the distribution of the $2.3 trillion dollar stimulus package. While this did not pass in the House, there remain calls on the U.S. government to try their luck in implementing it.

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Author: Lujan Odera

Coinbase Custody, Bison Trials Partner To Roll Out Polkadot (DOT) Staking Services

  • Bison trials has recently announced its integration with Coinbase Custody while also providing support for the Polkadot protocol.

With help of blockchain infrastructure-as-a-service firm Bison Trials, Coinbase custody announced staking support Polkadot’s DOT tokens client’s, with up to 20% returns. As it was officially announced on the 14th of April 2020, the new integration will allow Coinbase Custody clients to entrust Polkadot (DOT) tokens to Bison trial validators.

Speaking to news source cointelegraph, Joe Lalloz the CEO of Bison Trials promised that this integration will make it easier for people to participate in the network and that it would smooth the running of blockchain infrastructure. This will be done by putting more emphasis on the user experience which in turn will support greater participation. The integration according to the CEO of Bison Trials will make it easy for clients to earn staking rewards by participating in securing Polkadot.

Staking could be the long awaited turnaround on crypto

Sam Mclngvale, the CEO of Coinbase Custody recently said that staking provides Coinbase Custody clients with a way to improve crypto governance. This is by participating in network rewards while chipping in to the governance and security of the general crypto ecosystem. CEO Joe Lalloz seemed positive about the whole project claiming that the future infrastructure was more promising.

Bison Trials, per recent reports, the two Libra members and Coinbase Custody are planning on adding staking service for other blockchains in the future. This however will not be the first time that the two firms worked on staking issues, back in January of this year, Coinbase Custody and Bison Trails teamed up with a lobbying organization, Proof of Stake. The two Libra members did this in a bid to push for clearer regulations on crypto.

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Author: Lujan Odera

Samsung Finally Announces Integration of Bitcoin (BTC) Into its Blockchain Smartphone

Samsung has officially announced its integration of Bitcoin into its upcoming and series of blockchain-enabled smartphones. This news comes in the wake of the company’s partnerships with a range of blockchain-enabled or specialist companies like Enjin.

This move also comes in the months after the launch of the Samsung Galaxy S10 series back in mid-March 2019. Along with this broader announcement, the team also introduced its community to its bespoke ‘Blockchain Keystore’ which offers its users broader access to cryptocurrency storage and payment solution for Ethereum and related ERC-20 Tokens.

Even though this includes a wide range of dApps that leverage Ethereum, Samsung actually had an unspoken exclusion of the number one cryptocurrency in terms of market cap.

The company that is otherwise known as one of the tech giants operating within South Korea has since announced that it will be including Bitcoin related features to its developer kit (SDK) for a wider array of S10 models (S10e, S10, S10+ as well as the S10 5G) including its Note10 and Note10+ models.

The Samsung-based SDK solution actually allows those on Android Devices to link their dedicated blockchain addresses to Samsung’s blockchain Keystore. From there, users will be able to sign cryptocurrency transaction as well as check their Keystore status.

Some of the blockchain features on these phones remain geographically exclusive to certain areas. For the moment, these consist of the following: Canada, Germany, South Korea, Spain, Switzerland, the U.S., and the U.K.

Some of the newest additions to the SDK also include support for other native cryptocurrencies such as Klay, from the Klaytn network, which was recently launched by the Korean-based messaging solution – Kakao.

During the latter part of last week, Kakao’s blockchain subsidiary, known as GroundX has since teased at the launch of its upcoming wallet for Klay referred to as Klip, and has also announced the introduction of its very first decentralized dApp partners.

Samsung now officially lists 17 dApps within its digital Keystore and is actually in the process of developing its own, which is based on top of Ethereum. It has been alluded to that it may be working to release its own token, according to reports from the firm.

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Author: James Fox

Unified Exchange (UXT Token) Review: Safe Cryptocurrency Trading Platform?

Unified-Exchange

The Unified Exchange aims to bring a new solution through direct integration of a social platform into the trading experience.

The social platform has unique features that set it apart from other exchanges, including the add-on/overlay function that enables it to integrate with other exchanges and increase its social exposure.

The initial set of features will immediately draw traders to the Unified Exchange and UXT (the base currency on the platform) will benefit the exchange by creating the most cost-effective trading experience. The Unified Exchange will offer several more unique benefits that are currently rare in the crypto space.

  • The exchange comes with a ranking system that will cause the most skilled and helpful traders to stand out in the crowd.
  • Traders will increase their trading power and social reach by sharing real-time trades with their followers.
  • A reward system will motivate highly ranked traders to allow them to accumulate UXT.
  • Advanced traders will also have the opportunity to sell or give away subscriptions services for advanced trades and expert chart analytics.
  • Group and private charts will be based on rank to reduce spam or coin shilling.

Platform Features

Integrated social system: Social platforms are the way of the future that will enable traders to take their experience to the next level. Traders can increase their trading power and reach by sharing real-time trades with their followers.

24/7 Support Staff: Exchange support is one of the platform’s priorities. They can have the ability to submit tickets or talk to a live support agent anytime.

Third party modules: Traders can custom applications to increase their trading reach and power. Developers can improve the way they and others trade.

Hard Fork support: when it comes to Hard forks, the platform is there for its customers. They will support every fork offered and allow them to withdraw their coins without issues.

Social Features

The Unified Exchange platform combines social aspects in trading and information sharing by using the Unified Exchange Token (UXT). Apart from being a centralized token that offers all the benefits it entails, the Unified Exchange Platform also delivers the following features:

Social Media Alignment

The platform is dedicated to aligning users of social media and cryptocurrencies under one roof. This leads to the much-needed platform for seamless interaction between crypto traders and those using mainstream social media channels such as Facebook, Twitter, Bitcointalk, Telegram, and others.

Skilled Trader Subscription

Unified Exchange gives traders the opportunity to gain subscribers and sell subscription services for advanced trades and expert chart analytics or give them away free.

User-friendliness

The platform seeks to incorporate a 24/7 support system to utilize ambassadors to assist users in various languages.

Cross-exchange Social System

With a browser add-on system, users will have an overlay to existing trading websites. Various functions in the add-on, with the user’s permission, will gather information used on other trading websites, including chats, notifications, alerts, and customized alerts chosen by the user.

Operations: this includes hiring new staff, leasing high-end office space, and others.

Security: this is the number one priority that requires a dedicated team of experts to make the Exchange airtight including ongoing security audits.

Marketing: the platform will need to get the word out and to many people. Therefore, it’s budgeting 20% to cover long-term marketing.

Legal: Establishing the Unified Exchange and developing future partnerships will require an extensive amount of legal support.

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Author: Bitcoin Exchange Guide News Team