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Disclaimer: Cryptomover is not a licensed financial advisor. The information presented in this piece is an opinion, and is not purported to be fact. Cryptocurrency is a volatile virtual commodity and can move quickly in any direction. Cryptomover is not responsible for any loss incurred by following this advice.

 

75. TECHNICAL ANALYSIS: BTCBCH (Published: 15th Nov, 2017)

Analysis

  • BCH/BTC surged from 0.09 to as high as 0.4 recently, which is about 4 times in 3 days
  • It was moving too fast, with both RSI and Stochastic indicator showing overbought signals repeatedly
  • There was a strong correction, and BCH/BTC is finding support at the 0.18 level
  • Price hitting the upper trendline at 0.195, in which it can break out or go back to the support level

Suggestion

  • Look at the price action at the 0.195 level. Enter long trade when it breaks out, or short when it goes back, with take profit at the support level
  • Volume dropped significantly after the recent rally, it might become stale like what it did prior to the rally, if this is the case we do not recommend trading it

 

74. $160M lost on Ethereum - Explained for non developers (Published: 14th Nov, 2017)
160M USD worth of Ether being locked

The main characters of today’s story are Ethereum, Parity, bunch of ICOs such as Polkadot and Iconomi (We know Iconomi is not a recent ICO but somehow one of the biggest influenced address has its name attached) and 160 million U.S. dollars’ worth of ether.

Multi-signature wallet and background of the story
I guess most of the audience would be very familiar with normal bitcoin and Ethereum wallet where the user can sign transactions using their private key. For multi-signature wallet, as the name suggests, multiple private keys need to be provided to sign a valid transaction. By brutal force this can be done in many ways but for the Ethereum multi-sig wallet, people somehow prefer to do it through smart contracts. Parity technology is a for-profit company that aims to ‘enable businesses and organisations to capitalise on blockchain technology and benefit from the new opportunities.’ From their website, seems that the most popular product currently is their Ethereum wallet product that enables the multi-signature feature. Before digging into more details about the curent story, we need to trace 116 days back to July the 19th when the funds in all Parity supported multi-signature wallets were stolen instead of frozen. At that time, the hacker could become the only owner of a multi-signature wallet by calling the ‘initWallet’ function within that wallet contract. On November, the 6th there is another vulnerability of Parity multi-sig wallet being exposed which causes 160 million worth of ether being frozen in the contract, here I am going to explain this vulnerability.

How this happened?
In fact, this really is not ‘another’ vulnerability. This is almost the same thing happened on July the 19th all over again.  Firstly, we need to know that there are two contracts involved in the construction of a Parity multi-sig wallet. The wallet contract itself and a library contract (0x863DF6BFa4469f3ead0bE8f9F2AAE51c91A907b4) where the wallet contract will call function from.In July, the hackers found that it was possible to run ‘initWallet’ function in this library through a wallet contract to re-assign the ownership of the wallet (this should not be executable after a wallet has already been initiated and therefore, this was clearly a serious bug). After this, Parity deployed a new library contract where a modifier ‘only_uninitialized’ is attached to ‘initWallet’ function. This means that once the wallet contract is initiated, it cannot be re-initiated so that a random dude cannot re-assign the ownership.  However, the Parity team ‘forgot’ to initiate the library contract so that the status of the library contract remained uninitiated for 4 month. Until seven days ago, a random dude (0xae7168Deb525862f4FEe37d987A971b385b96952) initiated it and become the owner of it by simply running ‘initWallet’ (yes, simple as that). Even though the ‘initWallet’ did have the modifier ‘only_uninitiated’, since the library has never been initiated, this call was still successfully executed and broadcasted on the blockchain. As we can see from the transaction history of this library contract, the first transaction after its deployment was sent by the ‘destroyer’. After becoming the owner of the library, ‘0xae7168’ destroyed the contract and therefore, locked up all the fund that stored in Parity multi-sig wallet that call functions from this library contract. Ironically, the first transaction send to this library wallet is to destroy it, sigh.

Thoughts on multi-sig and Ethereum
As the destruction of the library contract is non-retrievable and all the wallet that call this library cannot be re-written (it has already become a history on the blockchain). The only way to resolve this problem seems to be another hard fork. However, no decision has been given in the past week and hard fork means brushing away hundreds and thousands of transactions during this period. Meanwhile, although much larger amount of money was affected here than the DAO hack, the percentage of ether being affected is actually much smaller. As a result, we believe a hard fork is very unlikely, even though this is would be cruel to those asset holders.

Other than hard fork, we can think of two other possible compromises to mitigate the current damage.
1. Since a decent portion of the locked funds are raised for an ICO, we do think ICO should still issue the token as they have promised because it is their responsibility to take good care of investors’ money.
2. Create a new token that is meant to have the same value of ether. This is kind of like what Bitfinex did when they lost their fund. Doing this require the entire community to agree on and admit value of such a token which is unlikely yet better than hard fork in our opinion.

Also many people blamed Ethereum for such kinds of vulnerabilities happened again and again but as I have explained, this really is such a simple mistake made by the creator to the library contract that people do not even need to be a programmer to understand it. They should either settled the ownership of the library contract along with its deployment or remove the self-destruction function within it. Blaming Ethereum is like blaming a knife manufacturer for their product being used by a murderer to kill people. 

Key Takeaways
1. Bear in mind that any operations made on Ethereum mainnet is non-retrievable and therefore any smart contract, especially those involved in custodian must to be audited extremely strictly. Even experience developer may make mistake because solidity and writing decentralized app is such a new thing that no one can claim to be an expert of.
2. Although Ethereum is a platform designed for decentralized application, currently most smart contracts in use fall into the categories of multi-sig wallet, crowd sale and token creation. However, there are platforms designed specifically for these processes and since they have taken away the ‘freedom’ (risk) of writing smart contract, the platform can possibly be safer, faster and cheaper. One of such platform is Stellar and we are going to explain how multi-sig wallet and token creation work on Stellar network in near future.
3. For those ICOs that has lost investors’ money, how can you convince your investor that you can deliver what you have promised to create while you cannot even make your own multi-sig wallet?

73. Is Bitcoin a bubble? (Published: 13th Nov, 2017)
As BTC/USD moved from $1000 to as high as $7500 this year, more and more investors have become suspicious about this tremendous uptrend. Specifically, they are calling Bitcoin a “bubble”, and often compare it with the Tulip mania which was the first financial bubble. Meanwhile, some are comparing Bitcoin and its underlying technology blockchain to the internet in the 90s and claim that Bitcoin is not a bubble but instead a true technology revolution. This article will list out the arguments on both sides to provide a deeper insight in the debate.

Bitcoin is a bubble

  • “You can’t value Bitcoin because it’s not a value-producing asset.”  Warren Baffet remained skeptical as Bitcoin is not generating earnings or dividends and thus does not have intrinsic values. People buying it are simply betting the price to go up.
  • “The relatively high volume of cryptocurrency turnover, against limited real-world use, suggests that many buyers are seeking speculative gain, never intending to use cryptocurrencies to make a real-world transaction,”UBS said.

Bitcoin is not a bubble

So?
A bubble can only be identified after it bursts. However, unlike the previous bubbles, this time there are a lot more skeptical voices. This might be a good sign, but no one can be 100% true. What we can do is understanding the risk of investing in it and never invest more than you can afford to lose. Selling your house for Bitcoin? No. Learn more about the technology and invest with the best practices? Absolutely worth it.

 

72. Orchid Protocol (Published: 10th Nov, 2017)
Orchid Protocol is an open-source project committed to ending surveillance and censorship on the Internet. It uses an overlay network built upon the existing Internet, which is driven by a peer-to-peer tokenized bandwidth exchange. Orchid Labs Inc. is the delaware company promoting and supporting the R&D of the Orchid Protocol. The protocol works like a VPN, but instead of being routed through central authorities, traffic is routed randomly via a network of bandwidth contributors who sign up to share their extra bandwidth and activate their Internet-connected device as a “node.” Users (bandwidth consumers) will pay the bandwidth contributors in Orchid tokens (OCT) through a peer-to-peer exchange. Orchid Labs Inc. was founded in 2017 by an established group of technologists, entrepreneurs, and blockchain experts. It has raised $4.7M seed SAFT (Simple Agreement for Future Tokens) from investors including Sequoia, Andreessen Horowitz, DFJ, PolyChain Capital, Metastable, Blockchain Capital, Crunchfund, Struck Capital, Compound VC, and several other funds and angel investors.

The project is currently in private alpha stage. By the end of 2017, the software will be published to the open source community. Early in 2018 the company plans to offer a public beta of the Orchid Protocol to billions of users on the internet.

With the fears that states have infiltrated the Tor network, the Orchid Protocol will provide a new opportunity for users to avoid surveillance and censorship. The business model of the OCT token is simple and effect which can create a decent ecosystem between users and contributors. Although everything will depend on how stable and advanced the future releases is, this project has a great potential to succeed and can bring the current VPN industry to the next level. However, this kind of services also possesses significant risks. Regulatory risk is always the case for cryptocurrencies, and anonymous service providers will be the first targets which can be potentially cracked down by central authorities. Big companies like ISP provides and Google also will not like this and they will impose different barricades to hinder the user experience.

The project is still in a very early stage and we do not know if the technology actually works. Meanwhile, even if it succeeds, it will not be a mainstream product for average users who don’t even use VPNs. Therefore, we encourage to wait and watch.

 

71. TECHNICAL ANALYSIS: LTCBTC (Published: 08th Nov, 2017)

Analysis

  • LTC/BTC surged 10% today, but it was moving too fast
  • Both RSI and Stochastic indicator show overbought signals when the price moves to the 24H high above 0.009 level
  • It suffers a severe correction immediately, while the next support level would be the 0.008 level
  • Price could rebound there and test 0.009 again

Suggestion

  • Wait for a while until RSI and Stochastic indicator reach the lower threshold, which indicates that the correct might be ended
  • At that time, price would be around 0.008, which can be a good long entry when more confirmations for a rebound is shown

 

70. Unikoin Gold (Published: 07th Nov, 2017)
Unikoin is an online E-sport betting platform initiated in 2014, Seattle. It has not yet received the license to operate real money betting. Users can use a virtual (not on blockchain) game point called Unikoin to bet. The real-live value of these Unikoins is that it can be used to exchange for tickets to jackpots where gaming skins or gaming equipment are rewarded. In short, Unikoin cannot leave the gaming system and trade with actual cash.

According to their whitepaper ‘The proposed ERC20 token, UnikoinGold, will give alternative methods of possibly
turning over their winnings on the Unikoin platform.’ This shows that they want their betting units to have more connections to real live value by enabling trading between ether or even other cryptocurrencies. From their whitepaper, UnikoinGold is basically a premium version of their Unikoin that is easier to transfer and exchange for real value because UnikoinGold is an ERC20 token.

Making an exchange tradable betting unit does not sound very interesting to us as

  1. E-sports betting with real money is clearly available these days for countries that allows online gambling
  2. The business has a high regulatory risk to operate in countries where online gambling is illegal.

What is more interesting is that they mentioned that in the future they will enable peer-to-peer betting system by the method of using smart contract. However, no detail of their smart contract’s result verification mechanism has been released yet and no clue of it can be found in their github repository neither.

Another point to mention is that only 20% of the UnikoinGold created will be distributed in ICO and 80% will be reserved by the team for some other use. Gambling is one of the fields that is most likely to be disturbed by blockchain technology. However, no matter it is sports betting or E-sports betting, the result verification is very difficult to be decentralized. If this problem cannot be properly solved, we tend to believe that the application of blockchain here is a not a worthwhile.

 

69. What is the Segwit 2X hard fork (Published: 06th Nov, 2017)
It’s hard fork time again! The SegWit2x hard fork will take place at the block 494,784, or approximately 16 November. This article will briefly introduce what it is and how to prepare for it.

Back to May
The debate about how to scale up the Bitcoin network was fierce and lasted for three years. To reach a “consensus”, Barry Silbert’s Digital Currency Group (DCG) invited a selected number of stakeholders to sign an agreement in May this year, which was called the New York Agreement (NYA). The NYA has two parts:
1) Miners will activate SegWit in August if a 80% threshold is reached, and
2) Miners will activate a hard fork to increase the block size from 1MB to 2MB within six months. However, the NYA did not invite developers from the Bitcoin Core and implied that the main goal of Barry Silbert was to takeover the Bitcoin network via the hard fork.

What happened so far
As Bitcoin Core was the original supporter for SegWit, together with the NYA, the 80% threshold was reached in August and SegWit was finally activated. After that, the network was stable and far from congested. The second part of the NYA has become unnecessary and a hard fork can be highly disruptive to the network (see our previous article). Since then, some miners have withdrawn from the NYA, and many critics were claiming that the NYA, especially the SegWit2x hard fork, was completely political and will only harm the network (like this).

The contentious fork
The fork is taking an “all or nothing” approach by not planning to have any replay protection. To put this simply, a replay attack means a transaction on one blockchain can be “replayed” on another blockchain, which will make the users funds vulnerable and the network messy. Hence, even though it is very likely that there will be a coin split after the fork, it will be very difficult for both of them to coexist. In short, this is not something like the Bitcoin Cash or Bitcoin Gold fork which users receive free money.

How to prepare for it?
Although the outcome is uncertain, the way to prepare a hard fork is still similar. Just as mentioned in our previous article, send your Bitcoin to a wallet where you have control over the private keys before block 494,784 (You can check the current block height here) as it is a more accurate time measure than calendar date. Then do not move the coins until we are clear about which chain will be the major and surviving chain.
Again, we at Cryptomover will always store our fund in cold wallets, and split the coins for our customers as soon as possible. In fact, we credited our customers with both bitcoin and bitcoin cash within 1 day previously! All new coins will go to your portfolio and we will not retain any of them. Please follow us for further updates about the SegWit2x hard fork and how we will split them!

 

68. DAGlabs (Published: 02nd Nov, 2017)
DAGlabs is aiming to solve the problem of scaling blockchains. Similar to IOTA, it is creating a new protocol called blockDAG and it wants to “change blockchain into blockDAG”. A new cryptocurrency, which is not yet named, will be launched in late 2018 to implement this concept. While no whitepaper has been released, DAGlabs stated that the first stage to scale up layer 1 of blockchain is to implement the SPECTRE protocol on the DAG-based cryptocurrency, which features faster transactions and lower fees. Additional features such as layer 2 improvements for privacy(e.g. TumbleBit) and scalability (e.g. Lightning Networks) will be released subsequently. The project is currently raising Seris A funds, which will finish by the end of this year. It will keep hiring and expanding, while hope to launch the testnet by 2018Q3. Before the end of 2018, the new cryptocurrency will be launched. Meanwhile, a whitepaper will be released soon to illustrate all of the concepts in details.

This project is similar to IOTA, which aims at solving the fundamental issues of blockchain and launching their own protocols. However, the team of DAGlabs has much higher credibility which consists of blockchain developers and business experts. The team members also have influential power in the industry. For instance, the fork for Ethereum PoS, Casper, is named after the GHOST paper, which was coauthored by DAGlabs’ Yonatan Sompolinsky. On the other hand, they were avoiding ICOs and targeted traditional fundraising to gain more reputation and reliability. Hence, if they successfully launch the new cryptocurrency with proven technology, it can easily get into the top 10 coins. However, the project is currently not even in beta and a lot of information is missing. In addition, with such large scale of new technology, there would be a lot of bugs and barricades. How the team tackle with the issues in a timely manner would be critical for the development and reputation. In the worst case, it might take longer to launch the cryptocurrency, or even completely fail as no one knows how the industry will go in one year’s time.

As the project follows the traditional route for fundraising, there will not be any investment opportunity in any time soon. However, it would be worthy to keep watching its development since it can potentially be the industry changer. The best thing to do right now is subscribing to their updates to catch up any new information.

 

67. TECHNICAL ANALYSIS: BTCUSD (Published: 01st Nov, 2017)

Analysis

  • BTC/USD kept rallying recently and broke to a record high at $6400 today
  • A bearish divergence is formed on the RSI indicator when price moves to a higher high but RSI moves to a lower high, implying a bearish signal
  • The same bearish signal is also shown on the Stochastic indicator, and the price has been to the overbought zone multiple times
  • These indicators signaled that the price has been moving too fast and there should be a correction soon
  • $6100 has been a decent support level, so it is the expected target for the correction

Suggestion

  • It would be risky to buy now as the price is more likely to fall, hence traders should wait for the correction to “buy the dip” at around $6100
  • More sophisticated traders can also look for shorting opportunities with proper risk measures

 

66. What is REPLAY ATTACK? (Published: 30th Oct, 2017)
What is a replay attack?
Bitcoin Gold was successfully launched last week, but there are still many technical issues. If you still remember our previous article, the most critical one is the lack of replay protection. Do note that the coming Bitcoin SegWit2x hard fork in November also doesn’t possess such protection. Anyway, that’s why this week we are going to talk about how a replay attack works and what we should do to protect our funds.

So how does a replay attack works?
A hard fork on a blockchain is essentially creating a new incompatible blockchain which shares the same history with the legacy one, but has different blocks in the future. As they share the same history, if you hold some legacy coins during the fork time, you will also automatically gain the same amount of new coins. This distinctive feature opens rooms for a replay attack. Normally when you send out Bitcoin, you are signing a transaction with your private keys (therefore never disclose your private keys to anyone) and broadcast that transaction to the blockchain. After a hard fork, both of your coins are stored on the same address, which means that they are controlled by the same private keys. Without a replay protection, when you, say send out 1 Bitcoin from the legacy chain, the transaction is also valid on the forked chain with the same amount of new coins and same recipient. Someone else can make use of this and send out your new coins without your agreement. This is the same case for the opposite direction: when you send out the new coins, you are potentially also sending out your Bitcoin!

What we should do to protect our funds?
Basically wait for the implementation of replay protections. The previous Bitcoin Cash hard fork achieve this by modifying the signing mechanism so that we can distinguish the transactions from different chains. Bitcoin Gold claimed to implement the protection before launching, but the issue is still not resolved up till now.  While there are tricks to safely send out Bitcoin without a replay protection, like adding a small amount or coin mixing, this article is mainly for beginners and we do not recommend users without much experience to risk trying them as a single mistake can be disastrous. Instead, keeping the coins on your wallet and wait for further updates from the Bitcoin Gold team is the safest choice. We at Cryptomover will keep following the latest updates and split the coins for our customers as soon as possible. As we stated, any new coins from hard forks will be part of your portfolio and we do not intend to charge anything from them. Please do remember to follow us for further updates!

 

65. MOBIUS (Published: 26th Oct, 2017)
Mobius is a set of protocols that connect internet developers to the blockchain network. It aims to become Stripe in the blockchain world: a simple and standard toolkit for developers to interact with different blockchains. Mobius is ambitious and has various functionalities.

First, it is providing a DApp store, which is similar to Apple App Store and Google Play Store with a lower fee. Any DApps accepted by Mobius will be listed on the store. Second, Mobius has a simple REST API that allows non-blockchain developers to interact with blockchains easily such as processing in-app cryptocurrency payment, governance, login, and so forth. Third, it wants to enable Smart Market in the long run, which allows devices to pay for themselves like IOTA. For example, electrical appliances can adjust their power consumption based on the electricity price at the time to minimise fees while optimising performances. To ensure a clean and reliable data input, Mobius has a Proof of Stake Oracle Protocol that requires oracles to lock-in certain amount of MOBI tokens. They will be rewarded for more tokens if the data is correct, and get punished otherwise so as to incentivise them to ensure a good data quality. The team of Mobius consist of three Stanford graduates: David​ ​S.​ ​Gobaud, Cyrus​ ​S.​ ​Khajvandi, and Monis​ ​Rahman. One of their advisor is Jed​ ​McCaleb, who is the Co-Founder of Ripple and Stellar.

The total supply will be 888,000,000 MOBI. 5% will be sold at a discount in a pre-sale. 30% will be sold in the ICO, 32.5% will be reserved for the community to grow and to reward contributors. The last 32.5% will be reserved for the company for R&D. The token sale will take place between November 8, 2017 8:00am PST to December 8, 2017 5:00pm PST with a hard cap of $39 millions. Pre-sale opens on November 6, 2017 at 5:00 pm PST and closes November 8, 2017 8:00 am PST. Compliance is powered by CoinList and all purchasers must be KYC/AML verified.

The scope that Mobius tries to cover is huge but the idea is impressive and it can certainly give an impact to mass adoption. However, the problem is that the team of Mobius is actually very small and they do not have significant experience in blockchain. The execution of the ideas will be tough and we are pessimistic about their future deliveries. Also, the amount they want to raise is huge. Their team does not have an experienced blockchain developer and it is very difficult to hire one in the market. This is an issue which money cannot solve easily. After all, the opportunity lies on their impressive idea on mass adoption, while the investment risk is the actual execution given the small and inexperienced team.

We will categorise Mobius as a high risk high reward investment as its value will be huge if it successfully implement all of the features. However, the biggest concern will be the unpromising team. They might take a long time or even unable to deliver in the end. Therefore, We will suggest only investing a small amount, or not at all, in the ICO and keep watching their updates. If new and promising team members join them, or they are able to unexpectedly implement things quickly and smoothly, it would be a good time to buy in.

 

64. TECHNICAL ANALYSIS: ETHBTC (Published: 25th Oct, 2017)

Analysis

  • ETH/BTC rallied today as BTC/USD fell below $5500
  • Price has retraced to 38.2% Fibonacci level at 0.052747, but failed to go lower or make a higher high
  • Upward force is running out of steam and it should retrace again to the 50% Fibonacci level at 0.0517288
  • From there price can struggle for a while or go back up to a higher leve

Suggestion

  • No good trading signal right now, be patient and see if the price can hold the 50% Fibonacci level at 0.0517288
  • Go long if it rebounds upward at that level with strong volume

 

63. How to prepare for the Bitcoin Gold fork? (Published: 24th Oct, 2017)
As mentioned in our previous article, the Bitcoin Gold hard fork will take place on 25 Oct, and everyone should have an idea about how to safely prepare for it!

Key summary:

  • The safest way is to keep your Bitcoin on a wallet where you have the control to the private keys. It can be desktop wallets like Electrum or Exodus, or hardware wallets like Ledger Nano S and Trezor.
  • Avoid moving your Bitcoin on that day, and also after the fork to wait for everything to settle
  • When the fork is settled, each wallet provider would provide instructions on how to claim your Bitcoin Gold on the specific wallet, but we will also have tutorials about it, please stay tuned!

Why should I move to wallets where I have the control to the private keys?
To put things simple, when you have control to your private keys, you are 100% guaranteed to have the forked coin. The problem is just how to split them on the wallet. However, if for example your coins are stored on an exchange wallet, they have the rights to decide whether to issue the new coins to you or not. Anything can happen but you lose the control of it.
Why is this so important? Because Bitcoin Gold and Bitcoin will share the same address at the beginning, so when you have the private key, you can control the coins on that address. Even if your current wallet does not support Bitcoin Gold, you always have the option to import the private key on other supporting wallets to claim them.

Why should I avoid moving my Bitcoin after the fork?
As mentioned in another article, a hard fork is not compatible with old versions of the protocol so the network might be unstable during the time. However, more importantly, Bitcoin Gold does not have a Replay-Protection, which can be a huge issue.
Again, to put it simply, a replay attack means when Alice sends Bitcoin to Bob on the Bitcoin blockchain, Bob can also claim that Alice has sent Bitcoin Gold to him and “steal” Alice’s Bitcoin Gold. This is the same when Alice sends Bitcoin Gold to Bob, he can steal her Bitcoin. To avoid this, the previous Bitcoin Cash hard fork has implemented a replay protection, but this is not the case for Bitcoin Gold. Although they claim to be developing a strong replay protection, there are not any updates yet so it is better to wait and not move your Bitcoin shortly after the fork.

So what to do now?
Whether you are bullish or bearish on Bitcoin Gold, you should not lose your coins due to careless mistakes! Therefore, the best thing to do right now is following the summary above: send your Bitcoin to a wallet with control to your private keys, and wait until the fork is settled. Also don’t forget to follow us for future updates!

Sources:
https://99bitcoins.com/the-bitcoin-gold-hard-fork-explained-coming-october-25th/
https://bitcoinmagazine.com/articles/segwit2x-and-case-strong-replay-protection-and-why-its-controversial/

 

62. QTUM (Published: 19th Oct, 2017)
Qtum is a fork from Bitcoin that can interact with Ethereum. It aims at making blockchain technology easy for businesses, so as to build decentralised applications on mobile devices utilizing the existing major blockchains. The Qtum blockchain will run with a PoS consensus.The core technology of Qtum consists of the Decentralised Governance Protocol (DGP) and Account Abstraction Layer (AAL). Anticipating the high possibility for future forks, the DGP allows the blockchain to adjust its parameters via a specifically designed smart contract so that users, stakers, and node operators will not be intervened whenever there is a fork. Meanwhile, AAL is a bridge between Bitcoin’s UTXO and Ethereum’s Virtual Machine (EVM) that allows Ethereum’s smart contracts to be executed on the Bitcoin blockchain.

Other features include quick integration of new future upgrades on the Bitcoin blockchain, SPV support for light and fast client on mobile devices, possibility to replace EVM for better virtual machines, and Oracle and Datafeed functionality.Qtum has 3 co-founders, including Patrick Dai, Neil Mahi, and Jordan Earls. Patrick was previously working in Alibaba but switched to work in the blockchain industry. Neil has 20 years of software development experience and 4 years of blockchain technology experience. Jordan is a self-taught programmer since he was 13 and he is a well-known and trusted member in the cryptocurrency community.In addition, Qtum has some significant investors, including Roger Ver (first major investor in bitcoin startups), Xu Star (CEO at OKCoin), Anthony Di Iorio (Co-Founder of Ethereum and CEO of Jaxx), and more.

The Qtum mainnet was released on 13 Sep 2017, which aligns with their roadmap. According to the same roadmap, a WeChat wallet and an email integration will be released in November, which will be a great milestone for the project if these applications can actually demonstrate Qtum’s potentials. The technology of Qtum looks promising, and the team is huge with a lot of experienced developers. For cryptocurrencies, the key for the long term success is mass adoption, and Qtum has both the vision and capability to achieve it. It would be interesting to see how well their demo applications perform, and if they can get more significant partners to drive the adoptions. There has been fierce competition for “mass adoptions” or “make blockchain easy for businesses/ users”, but in the end of the day only one or two platforms will win the race, which is the risk of investing in this kind of projects.

The progress of Qtum has been very consistent and it is very competitive in the market place. As mentioned above, it will release the WeChat wallet and email integration in November. Right before the release, there will be speculations on it and drive up the price. Hence it is recommended to buy it earlier, and sell at the peak when the applications are released, or keep holding for a larger growth as the project is also striving for a long term success.

 

61. TECHNICAL ANALYSIS: ETHUSD (Published: 18th Oct, 2017)

Analysis

  • ETH/USD has been moving in a downward channel but it might be running out of steam
  • Bullish divergence on Stochastic indicator: price moved lower to test $310 but Stock actually rose up
  • RSI also showed oversold signal twice
  • These indicated that $310 will be a strong support level for ETH/USD

Suggestion

  • The market will probably test $310 again. Look for more bullish signals for a long trade
  • If $310 is penetrated, it will easily fall to $300 or even lower

 

 

60. BYZANTIUM (Published: 17th Oct, 2017)
Large scale upgrade was introduced in the Ethereum road map in 2015 under the name of Metropolis which encountered some significant delays resulting it to be broken into two phases namely Byzantium and Constantinople. The second largest cryptocurrency by market cap went through the fifth hard fork yesterday, implementing set of ethereum improvement protocols (EIP). Since this hard fork is planned so there has been very little disagreement among the community and, hence there should not be any chain split.

The fork is a major upgrade for Ethereum since the beginning of the year, since when Ethereum has gained popularity with the skyrocketing demand from ICOs using Etherum’s ERC20 token standard. The objective of Metropolis is to enhance scalability, privacy and safety features in Ethereum. The road to fork was not easy for Ethereum developers as well, Byzantium-enabled ethereum software was continuously retracted due to critical bugs found in the code. Developers pushed out corrections just in time.

The Byzantine fork is expected to include the following key features:

  • zk-SNARKs (Zero-Knowledge proofs)  increasing anonymity of transactions
  • Addition of ‘REVERT’ opcode that allows error handling without consuming all gas
  • Reduction of block creation reward from five to three ether
  • Better security through 'masking' allowing users to determine addresses which they hold the private key
  • A mining adjustment called a 'difficulty-bomb' making mining exponentially more difficult

Generally, mobile and Internet wallet providers are running their own client infrastructure, and users did not have to take any action. So far the fork looks to see no issues according to current fork logs, and developers are celebrating the success.

Sources:
https://cointelegraph.com/news/ethereum-hard-fork-happening-now-user-advice
https://www.coindesk.com/ethereum-executes-blockchain-hard-fork-byzantium/
http://support.exodus.io/article/141-what-will-happen-to-my-ethereum-in-my-wallet-when-ethereum-hard-forks

 

59. SMART CONTRACTS (Published: 16th Oct, 2017)
For traditional vending machines, you feed in coins and they will give out your choice of drink/food. Smart contracts are nothing different from this, but instead they are pieces of codes which allow more customisations and utilities. Smart contracts on the blockchain will execute what they have been written for, and everyone can check it. Hence, unlike a vending machine which we have to trust that it actually holds enough drink or coins for exchanges, the smart contracts can be verified by anyone and so it is a trustless way of executing a contract.

Ethereum is the first platform that promotes smart contracts. On the platform, users can code a smart contract for different purposes: let the contract to hold some balance of coins, or to secure a transaction, or even ask it to trigger another smart contract under a specific condition. The chain reaction of smart contracts can be very powerful and can create decentralised applications (Dapps) in which everything is executed on the blockchain. A list of applications built on Ethereum has shown that they can have impact on different industries, and the limit is really up to our imagination. After all, smart contracts are the next generation of “vending machine” which do not require users’ trust and can run exactly for their purposes. Their flexibility also opens up for millions of possible innovative applications. They would play a main role in the future of blockchain technology and hence everyone should have an idea about what it is.

Sources:
https://www.coindesk.com/making-sense-smart-contracts/
https://www.multichain.com/blog/2015/11/smart-contracts-good-bad-lazy/
https://medium.freecodecamp.org/smart-contracts-for-dummies-a1ba1e0b9575

 

58. DFNITY (Published: 14th Oct, 2017)
DFINITY is a project that aims to apply blockchain technology in the field of cloud computing. The general idea is like Ethereum but they claimed to solve the current scaling problems of Ethereum and massively increase the computational capacity of Ethereum virtual machine by applying a new protocol called Threshold Relay Blockchain. This project was initiated and self-funded in early 2015 by Dominic Williams who later on joined String lab. The project received a seed round in early 2017 and currently holding an asset of >10M USD.

The project has claimed earlier this year that they will release the testnet and offer a hard capped ICO at 20M afterwards, sometime around the end of summer 2017. Currently the date for testnet release and ICO is still not published. Overall, judging from the developing team and backup capital, this is likely to become a successful project. Considering that they did not take chance of the ICO hype from June to September this year and they are planning on a hard capped ICO, we think this is a decent project and investors are recommended to stay tuned on their Rocket channel.

 

57. CARDANO (Published: 12th Oct, 2017)
Cardano is a platform for smart contracts and thus decentralised applications, which directly competes with the existing Ethereum platform. It differentiates itself by providing solutions for the regulations, security, consumer privacy, governance, and long-term plannings. Cardano will implement the Ouroboros Proof of Stake Algorithm, which was developed by their own team. It will also run with 2 connected layers: one settlement layer for accounting and a control layer to run smart contracts and recognise identity for compliance purposes. The ADA token is the cryptocurrency of Cardano platform, which serves the same function as the Ether in Ethereum: a required token for the usage of the platform.

The project has three separate stakeholders, including the Cardano Foundation, IOHK, and EMURGO. Cardano Foundation will be responsible for the marketing and strategy development, IOHK will build the technology and blockchain, while EMURGO will foster the commercial applications built on the platform.The Foundation is led by Michael Parsons FCA, who is an experienced executive and consultant in the banking industry for 25 years. On the other other hand, the 2 founders of IOHK was in the Ethereum team but now their IOHK is working with Ethereum Classic. Meanwhile, EMURGO is a new company founded in 2017 in Japan which fosters companies to adopt blockchain technologies.

The settlement layer has been released by IOHK and hence users can already transfer and trade on the platform. For the control layer (computation layer), they aim to have a beta released by the first quarter of 2018. Once both layer are released, users will be able to build customised environments for decentralised applications. After the release of both layers, IOHK will develop the long-term scalability and capacities of the blockchain so that it can have a sustainable ecosystem to support itself in the long run. The IOHK will work at least until 2020 to ensure that the project is adequately maintained.

Cardano was begun in 2015, with a decent team which has expertise in different areas. They seem to have a more advanced technology and solutions for the existing problems of Bitcoin and Ethereum. However, the effect of first mover advantage is huge, especially in the cryptocurrency world. Right now Ethereum is still the most popular platform for decentralised applications and there are also lots of competitors. Simply having a better technology or marketing plans will not be enough to survive in the market. The project needs to have some distinctive features to stand out from the crowd. Cardano was listed on Bittrex recently, but the price has decreased from 700 satoshi to 450 satoshi in a week. As mentioned above, the project right now does not have a distinctive feature to stand out, and hence we believe that it will continue to fall after the initial hype of listing. Therefore, it is not recommended to buy it for the time being.  

 

56. TECHNICAL ANALYSIS: BTCUSD (Published: 11th Oct, 2017)

Analysis

  • Bearish divergence on RSI: price moved up to test $4900 but RSI dropped subsequently
  • As a result, the price fell quickly and penetrated through the support trendline.
  • Stochastic indicator is showing a slight oversold signal, meaning that the price can move up a bit to test the trendline at around $4820 before going down again
  • Market has priced-in the upcoming forks, which led to the recent rally. Therefore, unless there is any shocking news, the price is not likely to fall significantly and form a bearish trend

Suggestion

  • Look for upward momentum when the price retests $4820 and buy in if volume confirms the upward wave
  • Else wait until the end of the second wave correction and take a safer long trade at the bottom trend line around $4700

 

55. BITCOIN GOLD (Published: 10th Oct, 2017)
At the beginning of the year it was only Bitcoin, August onwards we have Bitcoin and Bitcoin Cash and it looks like November onwards we will have three different versions of Bitcoin. The Bitcoin blockchain is set to go through a second hard fork on 25th Oct giving birth to Bitcoin Gold (BTG). Existing private key holders of Bitcoin balance at the time of fork will be credited with an equal amount of Bitcoin Gold on November 1st, similar to the way Bitcoin holders received dividend during the birth of Bitcoin Cash.

The team of developers, miners and other key contributors to the project is led by Jack Liao, CEO Of Hong Kong mining firm LightningASIC. He is accompanied by Chinese mining tycoon and owner of Jinse.com (Bitcoin news portal) and, the project’s anonymous lead developer that goes by the name of H4x3rotab. The fork aims to protect Bitcoin ecosystem by creating a totally decentralised Bitcoin. The fork is another battle between the mining cartel and Bitcoin’s core developers. At one hand mining cartels are seeking for more hashpower, while at the other hand Bitcoin’s core developers are working towards decentralization.

The project developers hope to open up mining to more participants by replacing the Bitcoin’s mining algorithm with the one (Equihash) that enables mining via GPUs. Zcash uses the same algorithm, and it is resistant to ASIC chips. Bitcoin Gold will therefore compete with Ethereum for mining hardware, despite being closer in design to Zcash. It appears to be a smart move as Ethereum project is planning to switch its Proof of Work mining algorithm to Proof of Stake in 2018. Bitcoin Gold has also altered its difficulty adjustment, of which their blockchain will measure and adjust the difficulty with every block found.

The project still has a lot of roadblocks to cross before it reaches the proposed fork. The team has yet not released the mining software, mining pool and block explorer, further the project doesn’t have a wallet yet. The biggest criticism of the project is the developer’s decision to mine the new blockchain themselves for some time after the fork — thus keeping all the mining rewards. H4x3rotab mentioned on the project’s slack channel that the number of blocks they plan to mine would not be more than one percent of the total supply.

Despite the talks of hard fork, China banning the Bitcoin exchanges & ICOs and recently South Korea also banning the ICOs, the price of Bitcoin has managed to keep up to 4300 levels. The news flow followed a two to three weeks of huge volatility in cryptocurrency space but the price of Bitcoin recovered and recently crossed the 4500 levels. The fork doesn't look to have a major impact on the Bitcoin price. However it is interesting to note that Bitcoin Cash has been tanking down quite a lot in last few weeks. After the fork Bitcoin Gold will become a new member of Cryptomover’s Bitcoin Forking Index. It would be interesting to watch if Bitcoin Gold can have an entry similar to Bitcoin Cash. It would highly depend on how many versions of Bitcoin will market look to adopt and, if the intentions of Bitcoin Gold are genuine.

 

54. ARGON GROUP (Published: 03rd Oct, 2017)
Argongroup is basically a company providing assistance to ICO companies. They are helping business raise funds through tokenization and the creation of digital asset. In terms of assistance, they provide strategic advisory services, including areas like legal and compliance, marketing and platform building.For technology, they have developed two platforms, namely TokenHub and NYCEX. The former is established as a Digital Asset Issuance Platform, specialised for tokens offering. Their clients can issue their tokens under TokenHub, which is secure and in compliance with applicable laws and regulations. The latter is a Smart Contract-Compatible Digital Asset Exchange, which facilitates the transactions of tokens under a secure environment by providing liquidity and platform. Since the foundation of the group, they have assisted several companies to conduct their ICO, of which include Blockchain Capital, Civic, Storj (raised USD 10 m for Blockchain Capital, 30 m for the other two). The ICO of them have been proved successful and more are coming in near future.
More ICO advised by Argongroup will be coming in the next few months, including Salt, the first membership unit-centric loan network to allow customers to secure cash loans in blockchain-asset collateral-based agreements, and Science, the first incubator ICO of which holders of the Science token will receive a portion of tokens issued by portfolio companies in the event of their own ICO, as well as benefit from Science token repurchases funded by a portion of the proceeds from portfolio company exits. Salt has a fundraising target of USD 35 m and Science has target of USD 50-100 m.

 

53. TECHNICAL ANALYSIS: BTCUSD (Published: 28th Sep, 2017)
BTC/USD rallied recently and broke through $4100 with decent volume. While there will be a small retracement, we can expect it to reach $4400 if it does not drop below $4000. Traders should look for long signals when the price retraces to below $4100. 

 

52. BITCOIN SUISSE (Published: 27th Sep, 2017)
Bitcoin Suisse AG is a Swiss-based financial service provider specializing in crypto-assets  founded in 2013. For corporations and constitutions, they provide brokerage services and consulting services for ICO. For individual investor, they provide brokerage services, both are done by their experienced traders (for high volume orders only).
For ICO, they assist in 3 stages, from forming the legal framework, to ICO process, to selling the crowdfunded assets. They help conduct strategic plans and find suitable partners for the ICO companies. At the same time, they ensure the ICOs are held legally and safely and provide the payment gateway for transactions. At last, they assist in the selling of the crowdfunded cryptocurrency to fiat. This will be executed by their experienced traders and handled in a Swiss compliant and professional way. They have successful experience in assisting many companies/ICOs such as Ethereum Foundation, Tezos, OmiseGo, Bancor, etc (Tezos raised USD 206 m and Bancor raised USD 153 m). Ethereum Foundation was one of their earliest customers who received the brokerage services after their crowdfunding in 2015. The company was one of the first cryptocurrency financial service providers and currently one of the biggest one. It has the potential to become the largest in light of the large projects it has handled.
More ICOs with Bitcoin Suisse AG’s support are coming in next few months, including Ambrosus (on going), an open-source blockchain ecosystem that assures quality, safety and origins of food and pharmaceuticals under the global supply chains. Data of the products will be recorded in the system with the AMB token as the identifier. The project is also supported by Gavin Wood, the co-founder of Ethereum. Another ICO project is Real, the the first blockchain-based real estate crowdfunding platform that allows global investments in real estate assets from users around the world with cryptocurrencies and legally binding smart contracts. These two ICOs are both entrusted to Bitcoin Suisse AG so that the tokens will be offered and allocated to the public through Bitcoin Suisse AG on a first-come-first-serve basis, and the minimum participation amount will both be USD 5,000.

 

51. TECHNICAL ANALYSIS: BTCUSD (Published: 26th Sep, 2017)
BTC/USD retraced to $3550 recently and rallied again. Volume is still low and it might lose momentum upon reaching the $4000 level. Traders can wait until the price breaks out $4000 with volume for a long trade. If the price cannot go as high as the previous local high at $4125, a head and shoulder can be formed and there will be a downward pressure on the price, which can drive it to below $3550.

 

 

50. TOKEN MARKET (Published: 24th Sep, 2017)
TokenMarket is a marketplace for tokens, digital assets and blockchain based investing. They do researches on and invest in tokenized assets. They help launch the crowdsale for blockchain projects and give backers a tradeable digital asset. They have assisted several companies with their ICOs and that’s the key service of them. They provide all-rounded assistance, including marketing, compliance (audit, KYC, AML), security, technology, brokerage and distribution. Successful examples are Civic, Storj, Monaco, FirstBlood. Some of the team members are the advisors of several ICO projects such as FirstBlood and Stratis.
TokenMarket is creating a database for ICOs and cryptocurrencies, which welcomes companies to send in information and get their tokens listed. They notice people for upcoming ICOs and some may be placed higher place in their list, according to their evaluation.

49. VANBEX GROUP (Published: 22nd Sep, 2017)
Vanbex specializes in consulting, communications & development for blockchain businesses. They provide assistance in areas such as technology, strategy, operations and marketing. Their clients include some big names, such as Factom, Dash, and Storj. They are also introducing two products, namely Genisys Ventures and Etherparty.
The former is a private blockchain solution for financial services and foreign exchange firm by integrating payment system with smart contract compliance while the actual product is not launched yet.
The latter allows users with zero knowledge of smart contract programming to create an enforceable, self-executing digital agreement for all types of transactions, by establishing an application with template library and user-friendly interface. Enterprises can integrate their application with the smart contract functionality using the API they provide. The ICO of Etherparty will be in October 2017 and they have finished the pre-sale on 14 Sept with $25 million raised. The group has completed the seed round funding for its blockchain products in June with an amount equivalent to USD 365,000.

 

48.TECHNICAL ANALYSIS: ETHBTC (Published: 20th Sep, 2017)
After the short recent rally, ETH/BTC is finding support at the 0.0720 level. The price right now can move to either ways: go up to test the longer term trend line at 0.0760, or fall down to the support level 0.0685. Traders should wait for the price to show a clearer movement before making a trade decision.

 

47.TECHNICAL ANALYSIS: BTCUSD (Published: 19th Sep, 2017)
BTC/USD has been rallying after the recent sharp drop below $3000. It has pushed through $4000 but the momentum and volume were diminishing. Overall an uptrend is formed but a retracement to the 38.2% Fibonacci level at $3690 is very likely before going higher. Traders should wait for more signals at that level before entering a long trade.

 

46. ICOs and NAV - what entrepreneurs and investors think about (Published: 04th Sep, 2017)
This article is a general discussion on the subsequent NAV (Net Asset Value) of a company after an ICO (Initial Coin Offerings).

ICOs are a spectacular way to raise money. According to Smith+Crown, more than 900M have been raised since 2014, an order of magnitude more than traditional venture capital funding.  Most tokens are currently trade above par, that is above the value of the underlying assets if forced liquidation.

An interesting phenomenal is going to happen soon. What if the enterprise that holds a good portion of the tokens, in the form of a lockup, needs to go the market to raise money?  Most organizations promised to lockup a good portion of the tokens they owned for a number of years.

The value of the firm is the sum of the assets minus the liabilities.  Since most of these firms has no cash flow so to speak, valuation on these firms is simple.  So, say a firm raised 100,000 ethereum from an earlier sale and it is inscribed that 70,000 ethereum will be locked up for say 5 years.  How should the enterprise raise money?  

Traditional finance says that the value of the firm is probably around 70,000 eth since the firm at that point really has no liabilities.  A rational investor, say a VC, would not pay much more than the future cash flow of the firm discounted at some interested rate.  If one believes that the project is worth nothing, then the value of the firm is the current sum of the assets.  As I have stated over and over again, the value of the protocol only becomes valuable if the number of users increase exponentially on the network, so unless these protocols have substantial users or awareness, these projects could end up with zero value.

So what can one do if the entrepreneur cannot raise money the traditional way, but is sitting on a mountain of tokens?

Yours truly has been approached by several project to buy blocks of tokens at substantial discount with a lock up.  Think for a minute if you are a “crypto hedge fund”.  Immediate mark to market gain.  Book that 2 and 20% to close the quarter on the high watermark.

For the hedge fund, it's a win:

  1. The hedge fund manager takes the block with a lockup at a discount
  2. Sources another block of tradable tokens - in the form of “borrow”
  3. Sells the borrow
  4. On lock up expiry day, return the borrowed tokens
  5. Boom $$$

Firm that is raising money, it's a win:

  1. Sells the locked up tokens, OTC.  Since the token address never moved, it appears to the public that the tokens are still with the firm.
  2. Locks in funding source immediately
  3. The firm is able to “hedge” its position in the tokens since they are probably spending fiat money for operations and employee cost

At Cryptomover, we believe that such transactions are perfectly legal, while harms everyday investors.  Our indexes are designed with the philosophy of only including “blue chip” type projects (think S&P 500) where project leaders have pristine reputation and are completely transparent about their funding sources.  We therefore, do not buy blocks from distressed projects looking to offload their hoarding of tokens from a previous ICO.  Such short term practice can only harm our reputation but we are here for the long run.

The whole point is, why should a firm sell its assets below the book value?  Should they just return the money back to investors if their ICO failed to deliver a business model or utility for their tokens?  We will discuss this more in later articles.

 

 

45. OmiseGO (OMG) (Published: 18th Aug, 2017)

Overview
OmiseGo is an Ethereum- based technology for use in mainstream digital wallets that enables real-time, peer-to-peer value exchange and payment services agnostically across jurisdictions and organizational silos, and across both fiat money and decentralized currencies.OmiseGo is offering two main products, namely the OmiseGO blockchain and the wallet.
Its blockchain allows large transaction volume at a low cost, and everyone is allowed to conduct financial transactions based on the chain. The major target of OmiseGO is the financial transactions between businesses, of which include payments, remittances, payroll deposit, B2B commerce, supply-chain finance, loyalty programs, asset management and trading etc. OmiseGo emphasizes that both fiat and crypto currencies are agnostic on the network, and the best currencies will win eventually as far as adoption and usage go given the removed barriers of transactions. Also, the blockchain of OmiseGO uses proof-of-stake for distributed consensus, which greatly reduces the risks of oligopoly and 51% attack.
On the other hand, OmiseGO provides wallet SDK so that digital wallet providers can create their customized payment solutions based on their needs while all transactions across digital wallet providers will be conducted on the OmiseGO network. Therefore, OmiseGo is not in direct competition with other wallet providers like TenX, as they focus on business side users and they are facilitating the optimization of other digital wallets.
OmiseGO is actually a project of an existing Fintech company - Omise, which has been serving in Southeast Asia. It is also one of the few projects endorsed by Vitalik Buterin - the founder of Ethereum.

Future Development
It is always easier to expand if the project is carried out by a developed company. OmiseGO has announced that all existing Omise merchants can seamlessly accept payments in multiple currencies, including cryptocurrencies once OmiseGO is launched. Also, OmiseGO has been planning to work with McDonald's in Southeast Asia and Thailand will be the first stop of the expansion. The foundation of Omise will greatly facilitate the expansion of OmiseGO in Asia.

According to OmiseGO’s roadmap, the OmiseGO network and digital wallet framework are scheduled to launch in Q4 2017. It is expected that OmiseGO will form more partnership with local merchants and plan for further expansion in Asia in the coming years.

Opportunity and Risk
Plasma.io was introduced on 11 August by Vitalik Buterin as a solution to the scalability problem of Ethereum. Following was a tweet by OmiseGO, claiming that they will be the first plasma.io project. In short, the project proposes the use of child blockchains, which are connected to the main blockchain, so as to reduce the data stored directly on the chain and eventually achieve higher efficiency on the chain, based on the proof-of-stake consensus. Many people are excited to see the future development of OmiseGO, given Vitalik as the advisor and the platform being the first to apply plasma.io.
However, OmiseGO faces the same problem with other digital wallet providers that, people now are still preferring cash more than cryptocurrency. Using and acquiring cash are still far more convenient and it is hard to build a new practice. Maybe after a few years, when cryptocurrency becomes widely prevalent, platforms like OmiseGO can unleash their full potential.

 

44. Colored Coins (Published: 18th Aug, 2017)
Overview
Colored coins, as known as meta coins, refer to protocols that are built on top of an existing cryptocurrency blockchain(usually speaking, Bitcoin). Tokens can be created with additional functionality to the Bitcoin protocol and distributed to other users. Color is just an attribute so for example in terms of asset ownership – “the right to own something” - as well as further applications.
Counterparty is one of the systems that is built on top of Bitcoin blockchain and allows other users to do so through their system. For instance, people can do ticket sale using Counterparty system. By creating new tokens on top of Bitcoin blockchain, the transfer and ownership of tickets (in forms of tokens) are all recorded and a central authority is no longer needed for distribution. The cost of creating a new token on Counterparty system is roughly $7 and it is a threshold normal people can pass. Other examples of colored coins company include Mastercoin and Coinprism.

Future Development
ICO has been crazy this year and many claim that as a bubble that may finally lead to a plummet in overall cryptocurrency market. By token sale, companies earn massive amount of capital by promoting their ideas and protocols, and those may not be maturely developed. There are risks that the platforms do not succeed and all the tokens’ value drop to zero, while the companies still earn from the capital raised. In light of this loophole, Counterparty may have developed an alternative based on colored coins - proof-of-burn.
Proof-of-burn is a method for distributed consensus by sending existing cryptocurrency to an unusable address. By burning some existing coins, users can get a proportional amount of tokens after that. The purpose behind this is to ensure a fair distribution of tokens and to avoid the developers of the new platforms being enriched before the success of the platforms.  This eliminates the chance of the developers getting quick profits while fails to offer the final products.

Opportunity and Risk
Bitcoin is facing severe competition from Ethereum because of the functionalities of the latter. More developers are using ERC20 standard when issuing their own tokens as programming is less required and it is easier to use compared with colored coins protocol. Although issuing new tokens is an uprising trend in recent years, people may prefer issuing ERC20 tokens instead of colored coins. Nevertheless, the proof-of-burn concept originated from colored coins can still be used as a distributed consensus method for tokens development in the future

 

43. Namecoin (Published: 17th Aug, 2017)
Overview
Namecoin is an open-source technology which improves decentralization, security, censorship resistance, privacy, and speed of certain components of the Internet infrastructure such as DNS and identities. Unlike typical domain which depends on DNS server, Namecoin’s decentralized TLS certificate validation is backed by blockchain consensus instead of a central system, and that ensures the security of the domain.
Namecoin was founded by a pseudonymous founder with an ultimate goal to avoid censorship from governments or large corporations by creating a decentralized network. By building domains through Namecoin, censorship from central authorities becomes nearly impossible. People who desire a secure domain (a .bit domain) have to pay 0.01 NMC for registration and they can acquire NMC by mining or through exchanges.
Namecoin is now trading at Poloniex, Bter, Cryptopia and Yobit (Poloniex responsible for 71% of total volume), with a price of $1.66 and market cap of $23,634,698. The trading volume has increased in 2017 and it once reached $5 in mid June, but it fell back to the current level afterward.

Opportunity
In the age of privacy, it is what people emphasize on and they want to stay away from censorship. Especially for region like China, where the government has restrictions on domains that people can visit, a decentralized network for domains may be a solution for those people. Also, the developers keep improving the protocol and it is believed that the network will be more user-friendly in the coming future.

Risk
The biggest opposer of Namecoin must be central authorities like governments, as criminal activities may flourish in network where censorship is eliminated. Although it seems impossible to break the entire network, but it can be disabled by providing hashpower larger than 50% of the entire network. If the network does not expand massively in the coming future, it may be be vulnerable.

 

42. Tenx (PAY) (Published: 16th Aug, 2017)
Basic Information
TenX is a payment platform powered by the Cryptographically-secure Off-chain Multi-asset Instant Transaction (COMIT) network, which allows decentralised real-time instant cross-blockchain assets transactions. PAY token is built as an ERC20 token on the Ethereum blockchain. Tenx will not charge any fee for any transactions done in local or foreign regions. The underlying principle here is similar to that of Monaco, but TenX offers a mobile wallet that can be funded by nearly all blockchain assets, including Bitcoin, Ethereum, Dash and other ERC20 tokens. Users can exchange any blockchain assets seamlessly from one user to another in a decentralized manner, removing any risk that is usually associated with current centralized solutions.
Also, there is a cardholder incentive that provides 0.1% reward for every purchase. Vitalik Buterin, the founder of Ethereum is one of the advisor of the project, which attracted massive supporters during the ICO. The PAY token holders will receive an incentive of 0.5% of the entire payment volume on the TenX payment platform initially on a monthly basis.
PAY is trading on Bter, Bittrex, Liqui, Yobit and Gatecoin (with Bittrex responsible for 55% of the volume). At the time of writing, PAY is trading at $4.18 with market cap of $436,980,855 .Its price reached the peak in August at $6 and there was a considerable increase in trading volume. The ICO of Tenx ended in June has raised $80 million and $20 million of the amount was raised within 7 minutes after the initiation.

Future Development
TenX and Monaco are both planning for expansion in the coming days. TenX plans to get listed on more exchanges, especially the ones in China, where digital payments and cryptocurrencies are extremely popular. Yunbi is their top priority now and it is expected that a cryptocurrency debit card will make an impact in China.
On the other hand, TenX is considering not giving 0.5% reward to those tokens being held on exchanges or internal TenX contract, as the incentives are in the first place given to users who contribute to the payment network. The proposal has not been finalised but this may become an example of other companies who do not design their tokens for speculations.

Opportunity
Despite the intention of Singapore government to regulate the ICO, blockchain and cryptocurrency related companies are greatly supported in the region. TenX has the potential to become the winner in cryptocurrency payment market along with the increasing popularity of cryptocurrency.

Risks
There are many companies specializing in cryptocurrency payments in the market but none of them has made a great achievement. A main reason behind is that using cash is still far more convenient and cost-effective than using cryptocurrency, also given that the latter keeps appreciating in these years. Many people hold cryptocurrency as a store of wealth instead of a medium of exchanges. The major supporters of these companies are mainly enthusiasts of cryptocurrency and the market is still very niche. Companies like TenX and Monaco have to contemplate a way to expand the market so as to sustain a long term development.

 

41. PROJECT UBIN (Published: 15th Aug, 2017)
Basic Information
Project Ubin was announced on 16 Nov 2016 by MAS, which aimed at creating a digital token for Singapore Dollar (SGD) on the Ethereum blockchain. The project was a partnership between MAS, R3 (a blockchain startup), and a consortium of financial institutions. It consists of several phases, with the first phase focusing on domestic inter-bank payment settlement.
MAS named the token as SGD-on-ledger and in phase one their sole usage would be allowing banks to settle interbank debts. The bank receiving this token can redeem them to SGD later on. Each SGD-on-ledger are backed by the equivalent amount of SGD held in custody, hence the overall money supply will not be affected by this token and it has full redeem-ability.

Future Development
On 9 March 2017, MAS announced that phase one was successful as a proof-of-concept project  and  The objectives of producing a digital representation of SGD for interbank settlement, testing methods of connecting bank systems to a Distributed Ledger Technology (DLT), and making the MAS Electronic Payment System (MEPS+) interoperate with the DLT for automated collateral management were all achieved.
While it is still in an early stage, MAS’s next step would be developing links to other countries in order to conduct cross border payments with the SGD-on-ledger. On the other hand, they will collaborate with the Singapore Exchange (SGX) to make fixed income securities trading and settlement more efficient through DLT. In addition, legal issues such as taxation problems with be further investigated. 

Future Development
At first glance the SGD-on-ledger seems to be the SGD version of USDT, but they actually have some fundamental differences. SGD-on-ledger is built on a private blockchain on Ethereum, meaning that it is much more centralised than USDT as the MAS has full control on the blockchain and able to restrict the ability of the others. The upside of this is that users can highly ensure the redeem-ability of the token, and thus the stability of it (unlike USDT).

Risks
However, high-centralisation is a double-edged sword. It violates the nature of cryptocurrency and induced additional risks to holders. For example, since MAS is fully authorised to monitor the network, there are no more privacy for the token holdings.

 

40. CRYPTO ASSET FUND (Published: 14th Aug, 2017)
Overview
Crypto Asset Fund is an open-end, private fund formed for the purpose of acquiring, managing and divesting investments in a variety of crypto assets (all types of crypto currencies, tokens, tethers, and other present and future instruments related to them).  It also may make blockchain and other related investments, including in mining and related activities, as well as other investments in the crypto asset space, broadly defined.
It currently has three classes of shares: Class T (Trading), Class L (Lending) and Class I (Index). Class T makes all types of investments in the crypto space, Class L lends fiat and crypto currencies to other traders to allow them to leverage and short, and Class I mirrors the CAMCrypto30 index of the 30 largest cryptocurrencies by market cap.

CAMCrypto30 index
From the rules document, the index is rebalanced monthly, and it is solely based on market cap, without a ceiling/floor on market cap, index ratio, and trading volume.  Although they do not display the exact ratio of the index, it is expected that more than 70% of the the index are constituted of the top 10 cryptocurrencies.

Class I shares
By investing in this fund, it will mirror the CAMCrypto30 index and trade accordingly. The issue about this is that the portfolio performance will be greatly influenced by the major coins, while smaller coins, like those below the 15th ranking, would be negligible. This might not fulfil the purpose of diversifying.
On the contrary, the fund might impose additional costs by holding a wide range of coins. Nowadays ICOs’ mania can easily push up the price significantly in a short period of time. However, it cannot hold long and the price will fall afterwards. Coins in lower ranking could shift frequently, so it brings up transaction costs without adding much value to the portfolio.

 

39. BIXIN (Published: 10th Aug, 2017)
Introduction
Bixin is a Chinese company that offers a wide range of services, including multi-signature wallet, Bitcoin(BTC) exchanges, interest-generating monthly accounts and also a bitcoin mining pool. Users can trade BTC directly with CNY using Bixin and 0.3% will be charged as commission fees. The interest rate of the monthly account ranges from 2% to 6.01% per year, steadily increasing over time. Bixin is now responsible for 8.3% of the total hashpower in the Bitcoin blockchain, making it the fourth largest mining pool in the Bitcoin world.

Stance on Bitcoin Cash
Bixin is one of the largest opposer of Bitcoin Cash in China. They are strongly reluctant to the fork and the adoption of Bitcoin Cash (BCH) on their platform. They have made statements about the consequences that may be brought by Bitcoin Cash, such as a fluctuation of hashpower in Bitcoin blockchain. They reiterated that they will distribute all hashpower to the Bitcoin blockchain and appealed to other miners to do so. Bixin is also one of the earliest mining pools that signaled Segwit2x.
Bixin will exchange all BCH they hold to BTC after the fork on 1 August. The income will be distributed back to their users according to their BTC holdings. The estimated value of this exchange will be more than $10 million in light of the BTC holdings of Bixin.

Risks
Concerning the Bitcoin Cash, Bixin has distributed 10% exchange deposits to the users at a rate of 0.075BTC = 1BCH. At the time of writing, the price ratio of BTC:BCH is about 0.0903BTC = 1BCH. In this case, if Bixin keeps distributing at this rate while the price ratio remains unchanged, they will earn roughly 0.0153 BTC per BCH (assuming transaction fees as negligible). Given the huge amount of BCH holdings, Bixin can earn a considerable revenue from these series of exchanges. Nevertheless, Bixin may still adjust the rate over time and make the above speculation invalid.
Other than that, there is fear concerning the monthly accounts mechanism of Bixin. There is no guarantee from Bixin regarding the interests as they come from the earnings of mining operations. As Bixin is not regulated, users may not get back their interests by legal channels once Bixin fails to distribute interests. Therefore, users have to assess the risks involved before using the services. (Nevertheless, Bixin has worked on KYC and AML).

Opportunities
Bixin occasionally provides rewards to their users. This year, by converting altcoins to BTC, Bixin gave out rewards equivalent to $10 million to their users, and that replaced the saving accounts mechanism.
On the other hand, Bixin is launching a feature in the wallet, which allows peer-to-peer transactions of BTC with Bixin as the third party arbitrator. The increasing amount of rewards and new features are attracting more users in China or even from other countries, which will help facilitate growth of the company.


38.QUICK GUIDE FOR BIP38 (Published: 08th Aug, 2017)
Introduction
BIP stands for Bitcoin Improvement Protocol, and BIP38 is the 38th proposal submitted to the community and adopted as a mean of protecting user's’ private keys. In short, BIP38 is to encrypt your private key with a password so that others cannot get access to your account even if they have your private key.

How to get a wallet with BIP38?
Before getting the BIP38 wallet, you have to own a wallet with an unencrypted wallet import format (WIF) key. Then you can go to the generator to create your own BIP38 wallet by following the steps provided. In this website, you may find the detailed instructions for creating the BIP38 key. One important point to note is that not every wallet application or website support BIP38, which means that you cannot import your key to those addresses. You will have to use the ‘validate’ tab in the generator to extract the unencrypted WIF key before any transferal of your balance.

Source: https://bitcoinpaperwallet.com/bip38-password-encrypted-wallets/  

Important points to note
- Never forget your password, otherwise your crypto are forever gone.
- Remember to verify your new wallet before discarding your old paper wallet, otherwise you may refer to Note 1.

 

37. HOW TO SPLIT YOUR BITCOIN IN 5 MINUTES (Published: 03rd Aug, 2017)
This article is a complete tutorial on how to split your Bitcoin Cash, also called BCC or BCH, from your bitcoin address (with private key).

Now if you left your bitcoin on an exchange before August 1st 2017, I strongly recommend you to go to https://www.bitcoincash.org to see if your exchange has claimed to support bitcoin cash or not. If the answer is no, you probably want to close this article now.
If you have wisely withdrawn your bitcoin from exchanges before August 1st 2017 and put them in a wallet that provide you the private keys (I used Exodus and Electrum, there are plenty other options).

For exodus the way to export your private key can be found here:
http://support.exodus.io/knowledge_base/topics/how-can-i-view-my-private-keys-1

You may face the problem: What should I do now?! Especially if you do not think BCC will succeed and you want to sell them now (by the time I finish this tutorial it is trading at around 0.2 BTC). The following video is going to give you a straight forward instruction (proven to be working). Before watching it you need to download a bitcoin cash wallet called electron-cash from: http://www.electroncash.org

 


After watching if you still have problem please comment on our Facebook page: https://www.facebook.com/cryptomover/ or join our WeChat group through QR code:

 

36.CANADIAN BITCOIN TRUST (Published: 02nd Aug, 2017)
The Trust

Investment Objective

Track the bitcoin market price.

Administrative & Safekeeping fee

1.5% annually, payable each month

Performance fee

0

Components

Series A, series B, and Series F

RRSP, TFSA Eligibility & Other Self-Directed

Accounts

After 150 investors

 

The Offering

Securities offered

Series B trust units

Price per security

Net asset value per unit of the series, calculated at 4pm est on the business day of purchase.

Minimum/maximum offering



N/A

Minimum subscription

$500

Currency accepted

USD/CAD

Subscription

Friday of each week

Redemption

With a prior notice of >=60 days, redemption will occur on the last business day of the month.

Price: 98% of NAV per unit of the series

Fee: 1% if redeem within 1 year

Agent fees

6% or $40, whichever is greater

Selling agent

Series B units sold will be distributed by Silver Maple Ventures Inc.

 

Service Providers

Sponsor

First Block Capital Inc. is the sponsor and promoter or the Trust. They are responsible for managing and directing the undertaking, operations and affairs of the Trust. This includes managing and directing the investments of the Trust and providing all necessary clerical, administrative and operational services.

Trustee

Computershare Trust Company of Canada is the trustee of the Trust.

Bitcoin custodian

Xapo Limited, a firm that specializes in providing secure bitcoin storage platforms, acts as custodian of the Trust’s bitcoin assets

and, in that capacity, is responsible for the safekeeping of the Trust’s bitcoins.

Bank

The Trust’s cash is held separate from our assets in a trust account with Royal Bank of Canada.

Registrar

Computershare Trust Company of Canada is the registrar of the Trust. As registrar, it keeps track of who owns units of the Trust and maintains a record of all purchases and redemptions of units.

Administrator

SGGG Fund Services Inc. is the administrator of the Trust. As administrator, it is responsible for calculating the net asset value of the Trust and providing certain recordkeeping services to the Trust.

Legal Counsel

Borden Ladner Gervais LLP acts as legal counsel to the Sponsor. The Trust does not have separate legal counsel.

Auditor

KPMG LLP is the auditor of the Trust.

 

35.BITCOIN CASH BCC (Published: 01st Aug, 2017)
Basic Information
Bitcoin Cash is the UAHF from the original Bitcoin by developers who disagree with SegWit. It features a flexible block size between 1mb to 8mb, protecting replay and wipeout attack by a new flag SIGHASH_FORKID, improved speed and security, and lower transaction fee etc. The UAHF will activate on 12:20 1 August (UTC+0) and split from the original chain.
On 22 July, ViaBTC stated that they are allowing people to convert their BTC into both BCC and BTC_FROZEN2 with a 1:1 ratio, meaning that users can convert 1 BTC into 1 BCC and 1 BTC_FROZEN2. However, deposit and withdrawal for both BCC and BTC_FROZEN2 are not permitted at the time being. On the same day, they were also listing BCC/CNY and BCC/BTC trading pairs.

Future Development
BTC_FROZEN2 represents the BTC assets other than BCC, and they will be redeemable after the activation of UAHF. However, ViaBTC will announce later about the exact date for deposit and withdrawal of BCC.
For other users who don’t use ViaBTC, Bitcoin Cash mentioned in their FAQ that Bitcoin owners will automatically own BCC after the fork. However, if the Bitcoins are stored in an exchange or third-party wallet, it is not guaranteed to acquire the BCC. Hence, it is recommended to store the Bitcoin in your own wallet and have controls over your private keys to gain access for both coins.

Trade Suggestions
Right now BCC is trading at around 0.1 BTC, sometimes ago it was even 0.5 BTC, that means there is an arbitrage opportunity. For example, if a user deposit 10 BTC into ViaBTC, and convert them into 10 BCC and 10 BTC_FROZEN2, he can then sell the 10 BCC for 1 BTC, and after 1 August he can withdraw the remaining 10 BTC_FROZEN2, ultimately earning 1 BTC on the SegWit2x chain.

Risks
If the SegWit2x chain becomes the majority, the above strategy will have a net gain, otherwise the user will lose 10 BCC on the UAHF chain in the above example. Also, there will be a counter-party risk by storing the BTC asset on a relatively new exchange. Therefore, to completely mitigate risks, one should store all BTC in a personal wallet in order to secure the original BTC and receive an equivalent amount of BCC after 1 August.

 

34.ELECTRUM (Published: 31st Jul, 2017)
Features
Lightweight: It does not require users to download the whole blockchain, and retrieves blockchain data from one of the servers randomly

Cold Storage: It stores users’ private key in users’ computer, while users can recover the private key with a 12-word seed. It is also possible to keep the private key offline and set up an online watch-only wallet, meaning that users can create the transactions on the online wallet and sign it in the offline wallet. In addition, it is integratable with existing hardware wallets like Trezor and Ledger.

Tor Support: Users can use Electrum in the Tails OS, enjoying an extra layer of anonymity

Multisig Support: Users can create a 2-to-2 multisig wallet to have a higher security level


Risks

SPV Privacy Issue:  Electrum is one of the SPV (Simplified Payment Verification) wallets, which allows the intermediate servers to obtain all of the address information from the wallets. This is the drawback for lightweight wallets and developers are still looking for solutions. More information in here.

Exporting private keys: It is dangerous to export any of your Electrum private keys to anywhere, because the others can retrieve all of your private keys if they happen to obtain one of your private key and your master public key. Hence, it is recommended to transfer the money to other online hot wallets and use that wallet’s private key if some services require them.

 

Recommendations
In terms of security, Electrum could be as safe as the hardware wallets, given that the following procedures are done:
- Store the private keys in an offline machine/USB drive with a linux OS (Tails preferred)
- (Optional) Disable the persistent feature on USB drive and write down the seed to create a “paper wallet”, meaning that nothing will be saved and whenever you reopen the OS, everything will reset and you have to enter the seed to recover the private keys.
-  Copy the the master public key generated in the offline machine, then paste it in an online machine to create an online watch-only wallet.
- Use the online wallet to create transactions and save the transaction file somewhere on your computer. Then, transfer the file to the offline machine (e.g. using an USB drive), and load it with the offline wallet to sign it. Finally, transfer the signed transaction file back to the online wallet and broadcast the transaction. More in here.
- For extra security, a 2-of-2 multisig feature can be used. Set up another wallet using the above steps, but choose “Multi-signature wallet” when creating the wallet in the offline machine. Transactions can be created with the online wallet, then transfer the transaction file to the offline machine of cosigner 1, sign, then transfer to the offline machine of cosigner 2, sign, then transfer it back to the online wallet to broadcast. More in here.

 

33.LEDGERX(Published: 28th Jul, 2017)
Introduction
LedgerX, LLC(LedgerX) is a company developing an institutional derivatives exchange and clearing platform for digital currencies based in New York. It is founded by Goldman Sachs, MIT and CFTC alumni, who are expertises in future and option markets and have regulatory and technological backgrounds. Major investors of the company include Huiyin Blockchain Venture, a blockchain focused venture capital based in China, and Miami International Holdings, the parent holding company of the MIAX Options Exchange in the US. The company has finished its Series B funding in May 2017.

Recent Development
In June 2017, its registration at the Swap Execution Facility, SEF)was completed and in July 2017, it was approved by the US Commodity Futures Trading Commission(CFTC) to become a Derivatives Clearing Organization(DCO) under the Commodity Exchange Act(CEA). It is the first digital currency options exchange and clearing platform that is under the official regulation of the US government. It took 3 years for LedgerX to finally get the approval from the CFTC. It is expected that future and option contracts(1-6 months) for Bitcoin will be available in September 2017 and those for other digital currencies such as Ethereum and Litecoin will be presented later.

Implications
Upon the approval by the CFTC, LedgerX became the first digital currency options exchange and clearing platform platform that is federally regulated. It is a milestone in the development of digital currencies as they start being accepted by the major financial market and people will have more faith in them. Before regulation, investors can lose all their investment due to fraud while not being able to sue their losses. Now, investors can send their cases to courts if they suffer from frauds when using the LedgerX platform. LedgerX will help inject confidence in the market and it is anticipated that people will gradually shift to platforms that are regulated by the government. People do not prefer riskier option given the same return. Regulated platforms may become a trend in future digital currency world and those unregulated may be out of steps with the society.

Forecast
LedgerX has the potential to become one of the leading digital currency platform in the US, or even in the world. Apart from the confidence reason, being regulated gives them an upper hand in the competition in gaining banks’ supports. According to the word of Paul Chou, the CEO of LedgerX, the banks they are working with have combined assets nearly 500 billion dollars. Such engagement level with the banking system will facilitate an effective operation of the platform and it will be a driving force to more fundings in the future. Furthermore, CFTC has recently formed an agreement with international regulators for an ‘equivalence’ arrangement, which will allow existing federally regulated institutions to acquire equivalent licenses in other countries. This will greatly enhance the competitiveness of platforms like LedgerX in the world market and accelerate their plans for global expansion.
It is expected that more companies involving digital currency transactions will seek for collaboration with official organizations and more will be regulated. The early birds like Coinbase and LedgerX will have advantages in the markets and those unregulated platforms may be ruled out from the markets or forced to cease operations upon requests by the authorities.

 

32.AMBISAFE (Published: 27th Jul, 2017)
Ambisafe is a platform for Ethereum asset management. It was founded in 2015 by Andrey Zamovskiy and Anton Tovstonozhenko, who had created the HolyTransaction, a cryptocurrency wallet. They also made significant contributions in several cryptocurrency projects, including Tether, Bitfinex, Expresscoin, and others.
Amibsafe provides a variety of services, among which the most notable one is the ethereum asset manager, which allow users to issue new and addition ERC20 tokens, multisig storage of ether and those ERC20 tokens, and managing the asset fees. Users do not have to possess any programming languages and everything will be executed with smart contracts via Amibsafe’s platform.
Another remarkable service is the White Label Cryptocurrency Wallet, which is capable for two modification. The first one is a Web Wallet and includes basic functions like sending, storing, exchanging tokens. The second one is an Investor’s Wallet, which allows receiving ICO investments and distributing tokens. The wallet can be installed on our own server with our own developers, but Amibsafe also provides branding, customization, and secure server configuration services for additional fee.
Setting up these services should be easy as they has simplified the procedures, while also allows customised configurations. Amibsafe is very flexible and thus if we want more details or tailor-made solutions, we will need to contact their experts and specify our own plans.

 

31.DECENTRALIZED EXCHANGES (Published: 26th Jul, 2017)
Overview
Decentralised exchanges (DEX) are one of the most prevailing concepts in these two years. DEX aim to eradicate the role of a centralized authority in case of assets transactions while maintaining safety and privacy at the same time. By manipulating the technology of blockchain, a peer-to-peer network can be formed on those platforms and no registration nor deposit is needed.Privacy is ensured and the possibility of identity theft is removed. People can hold their fund all the time and hacking activities are prevented due to the lack of a central server. DEX is offering another option for investors by taking away the disadvantages of centralized exchanges and providing a safer choice.

(Source: cryptoccompare.com)

Yet, DEX are facing obstacles during their expansions as many of them fail to be user-friendly. The mechanisms are complicated and people who lack the technology background may find it hard to use the platforms, not to mention the one who is completely new to cryptocurrencies.  ‘Safety’ and ‘Privacy’ are the words these DEX used the most to promote their platforms, but those are not powerful as ‘Speed’ and ‘User-friendly’. When considering investment, investors prefer prompt transactions and convenient applications as they have to grasp the opportunities at the right timings. Investors seldom spend time to learn to use a brand new platform when they are already using a great and reputable one. Therefore, DEX like Bitsquare is facing a low volume despite the advanced technology behind.

Bitsquare
Bitsquare offers a decentralized exchange platform for cryptocurrencies and national currencies transactions. It is safe as it is a P2P network which allows you to hold your fund without depositing into the exchange platform. Hacking activities will be prevented because of the lack of a central server. There is also an arbitrator system for solving trade disputes and the arbitrators can ensure smooth transactions despite the lack of a central authority. Privacy can be secured since registration is not required. All users’ data is encrypted and signed in case of transactions.
However, there are a few for Bitsquare. Firstly, users must stay online to make the transactions possible. Disconnection will lead to the cancellation of the orders and the trade will never be done. On top of that, advanced features like margin trading is not available on the platform. Also, the problem of chargeback risks is yet to be solved by the platform. Concerning transactions involving national currencies, people can require chargebacks after the trade and the platform fails to provide a resolution to prevent losses of altcoins in this process. Together with other technological terms and complicated arbitration processes, people are kept away from using Bitsquare, which leads to an extremely low transaction volume.

Bitshares
Bitshares shares similar properties with Bitsquare as a DEX. Yet, in case of national currencies and assets like gold, Bitshares proposes the concept of smartcoin and BTS. For smartcoin, it is a cryptocurrency whose value is pegged to another asset like USD and gold. While Smartcoins have their value backed by Bitshares’ core currency BTS, and they are guaranteed to worth at least their face value no matter when. Under this circumstance, the aforementioned chargeback problem can be prevented and this reduces the risks of transactions. BTS is ranked 13th in terms of market capitalization and thus it can assure the value of the smartcoins like USDT.
However, the trading volume of the platform remains at a low level compared with centralized platforms like Poloniex and Bitfinex. In fact, the decentralized structure of Bitshares somehow delay their decision making processes. The shareholder system of the company shall make their expansion slower. Yet, the platform is growing gradually and a larger volume is expected in the future.

DEX and ICO
Apart from the existing DEX available in the market, many organizations are planning to build their own DEX in the future. Numerous of them are getting their funding from the initial coin offering (ICO), such as the OpenANX, NVO and OmiseGo. They share similar ideas concerning the DEX while having their uniqueness at the same time. For instance, OpenANX calls themselves a semi-decentralized platform, as they think some functions require centralized components to attract traders. To tackle the low trading volume at the beginning stage of the platform, OpenANX will move the original users at ANXPro to the new platform, which ensures the user base at the very beginning. The OpenANX project eventually raised USD$18 M at the ICO and its prototype will be released in the second quarter of next year. Apart from the people’s craze about ICO, we can also observe people’s wishes of having an all-rounded DEX in the future.

Future of DEX in the coming years
The number of DEX in the market is expected to grow rapidly in the near future. On one hand, people start realizing the power of blockchain and are willing to use it in applications, on the other hand, there are more hacking activities recently and people wish for a safe platform to conduct transactions. There are dozens of DEX platforms available now and all of them have a organically growing user base. The founder of Bitsquare Manfred Karrer has also mentioned a growth in successful trades on his platform, with Monero, the euro and the US dollar being the most traded currencies. After some time, those platforms will have larger volume, and more platforms will be presented to the market after their ICO this year. It is expected that there will be a boom in DEX in the coming years and then investors will have more options in the cryptocurrency market.

 

30.TECHNICAL ANALYSIS: LTCBTC (Published: 26th Jul, 2017)
LTC/BTC has been consolidating in the area between 0.0164 to 0.0163 after a rigorous drop and there is a strong support. The price is undecided at the moment but a very strong momentum is needed in order to break down the support. Hence, it will more logical to buy here and target a rebound at the 38.2% Fibonacci level at 0.017.

 

29.TECHNICAL ANALYSIS: ETHBTC (Published: 25th Jul, 2017)
ETH/BTC was dropping violently but had a strong support at 0.080 level. It started to move in a channel with diminishing volume. The resistance at 0.083 seems weak, and hence it would be safe to buy at the bottom at around 0.080 and wait for the breakout when the price surpasses the red PSAR and the resistance level at 0.083.

 

28.TECHNICAL ANALYSIS: LTCUSD (Published: 24th Jul, 2017)
LTC/USD was moving in a channel recently with a lower high at $47.5 and double bottom at $44. It is now at the middle and has a weak bearish ADX signal, hence it is expected to drop lower to the previous bottom, then have a bounce to a lower high at around $46.5. 

 

27.TECHNICAL ANALYSIS: ETHUSD (Published: 21st Jul, 2017)
ETH/USD was rallying previously, but faced some resistance at $240. There was a significant correction afterwards, weakening the upward momentum. The price touched and rebounded from the Ichimoku cloud, while ADX was also showing bearish signal. Hence, we could expect another dip at around $200 support level, and see later to determine if it is able to have a bounce back to $240.

 

27.TECHNICAL ANALYSIS: BTCUSD (Published: 20th Jul, 2017)
BTC/USD was having a strong uptrend and tested the $2400 resistance level twice. It failed and now struggles at the $2270 support level. Negative Directional Index is leading with a low ADX while volume is also low, meaning that the price can either test $2400 again, or fall back to $2100. Traders should wait for momentum signals to enter a trade appropriately.

 

 
26.TECHNICAL ANALYSIS: BTSBTC (Published: 19th Jul, 2017)
BTS/BTC was hitting the support line at 0.000045 for a while, and started to rise recently. However, the momentum was weak and it would probably be rejected at the upper trendline at 0.000059. When the price loses the sheen, it is expected to fall to the current support again, or even lower to the next level at around 0.000030. Hence, we suggest to wait for reversal signals to enter a short trade when the price reaches the top at 0.000059. 

 

25.TECHNICAL ANALYSIS: STRATBTC (Published: 18th Jul, 2017)
STRAT/BTC was in a steady downtrend for a while. After reaching the support zone, it has a bounce to the upper trend line resistance level. The general market is bullish now so it might also has the momentum to break out and test the next resistance level at around 0.00240. Then it should fall and test the support area at 0.00150 again, before making the next major movement. 

 

24.TECHNICAL ANALYSIS: XMRBTC (Published: 17th Jul, 2017)
XMR/BTC had a bounce recently and then fell again to the previous low. It would probably face some support at that area and have a smaller bounce again. Traders can look for oversold signal on RSI and long the bounce with take profit around the consolidating area at 0.0160. We can also wait the price to reach that level and go short, expecting a profit at a lower low, at least lower than 0.0150. 




23.TECHNICAL ANALYSIS: XEMBTC (Published: 14th Jul, 2017)
XEM/BTC has entered the support zone with diminishing volume and might stay at this level for a while. Investors should look for breakouts at around 0.000060. However, if the price continues to fall, a support level is expected at around 0.000035. Hence, it is also possible to short when the price goes below 0.000051 and earn a substantial amount of profit.

22.TECHNICAL ANALYSIS: DASHBTC (Published: 13th Jul, 2017)
DASH/BTC recently reached the bottom at 0.0680 and rebounded. It would probably face a resistance at the upper trend line, which is around 0.0770. From then it can move in either ways as both
MACD and RSI are not showing any meaningful signal. Hence, investors should look for more signals at around that level to enter a trade.

 

21.TECHNICAL ANALYSIS: ETCBTC (Published: 12th Jul, 2017)

ETC/BTC was in a downtrend for almost a month. Recently it broke out the support level at 0.0060 and then traced back. However, the market was bearish these days and the MACD line moved lower when there was a lower low, meaning that the downtrend was not weakening. When the price retrace again and then keep falling, it would be a good entry for a short trade.



20.TECHNICAL ANALYSIS: LTCBTC (Published: 11th Jul, 2017)

After a recent rise to all-time-high and a correction, LTC/BTC was struggling at around 0.0192 level. However, as the the cryptocurrency market was bearish recently, its price would probably fall with the market, and reach the support level at around 0.0150 level. Investors can expect a pullback at that level and enter a long trade for a potential 20% profit. 



19.TECHNICAL ANALYSIS: XRPBTC (Published: 10th Jul, 2017)
The XRP/BTC has been moving in a narrowing channel. Recently the price reached the support level again and then had a short fall. It then quickly rebounded back to the uptrend line at around 0.00011BTC. Investors should look for confirmation signals for a small short trade or go long if the price breaks out at that level.


18.TECHNICAL ANALYSIS: ETHBTC (Published: 07th Jul, 2017)

The price of ETH/BTC seemed to be in a downtrend. Previously it retraced to the Fibonacci 78.6% level (0.1282) but then continued to drop. The volume is weakening but it should still have some momentum to fall lower. There would be a strong support level at around 0.090, hence investors should wait the price to reach that level and then trade the reversal or short it, depending on the confirmation signals. 


 

17.Monster Byte: ICO Research (Published: 6th Jul, 2017)

Overview
Monster Byte Inc. is a Bitcoin gambling company founded in 2013. Since then, it has been generating revenue, increasing users and improving its products. Currently, it holds Peerbet.org, Bit777.com, and BitcoinRush.io, which are Bitcoin Casinos or Sportsbooks, and has around $500,000 Trailing-Twelve-Months revenue.

ICO review
There was a token presale on 3 July for 2,500,000 Monster Byte tokens with a 31.5% discount over the general sale. It was sold out in 5 minutes, raising around $200,000. The general  token sale will start on 6 July and 7,500,000 Monster Byte tokens will be sold with a cap of raising $1,025,000. The token sale will take place on the Waves platform, and token holders are entitled to receive quarterly dividends in Bitcoin, based on the profit of Monster Byte.
Gambling is always a huge business and Bitcoin gambling businesses are continued to be profitable, while also still gaining popularity. Since 2014, Bitcoin Gamblers have wagered $4.5 Billion in Bitcoin. Monster Byte seems to have a successful development since its establishment and unlike other ICOs, they have a relatively long history. Also, their token presale was sold out in 5 minutes, indicating that it is extremely popular among investors. In addition, as the Bitcoin gambling history keeps growing, Monster Byte is expected to have an even higher revenue in the coming years. Therefore, the tokens are suitable for both short term profit-taking and long term passive investment.
However, when the industry grows larger, it might face legal issues. In the future, they could be fatally affected by regulations of both Bitcoin and online gambling. Hence, investors, especially long-term seekers, should keep an eye on the regulatory sides to prevent potential loss.


16.TECHNICAL ANALYSIS: LTCUSD (Published: 05th Jul, 2017)
The price of LTC/USD has surpassed the strong resistance level at around $46 and a clear uptrend was formed. However, recently there was a gap jump and the RSI indicators was showing an overbought signal, meaning that there should be a correction after the such huge surge. Nevertheless, as the volume in Chinese exchanges were rising significantly, the price could be pushed further upwards and the correction might be small. Therefore, a safe choice would be placing an entry around the $50 level, where the price flattened after the first rally. 

 

15.TECHNICAL ANALYSIS: ETHUSD (Published: 04th Jul, 2017)
The upper trend line is a consistent and strong resistance line for the price to move further upwards. MACD line is slightly above the signal line, indicating that the price still has a weak upward momentum. Hence, the price would likely to test the trendline again at $285 level, and then fall to the support of $250 level. A bearish trend is likely, but investors should look for confirmation signal when the price drops below $250 to enter a short trade.

 

14.TECHNICAL ANALYSIS: BTCUSD (Published: 03rd Jul, 2017)

The upper trend line is acting as a strong resistance level where the price failed to surpass for several attempts. Hence, even as the price is testing this resistance again, it is likely to fail and drop to the lower trend line, which is around $2400. If the bearish force is strong enough, the price might even drop to the $2300 support level, where the previous double bottom located. Investors should wait for the reversal and a solid confirmation signal, which is the price surpassing the upper trend line at around $2530, to enter a long trade.

 

13.STELLAR (Published: 26th Jun, 2017)
BASIC INFORMATION
Stellar was released in 2014 by Jed McCaleb, a co-founder of Ripple and founder of MT. Gox. Its main goal is to act as a bridge between fiat and digital currencies to anyone in the world for free instantly. Unlike Ripple which focuses on bank transfers, Stellar targets on the connections between banks, payments systems, and people. With low-cost financial services, Stellar can help fighting poverty and developing individual potential.
Lumens (XLM, previously Stellar STR), is the native coin on the Stellar network. It has a built-in, fixed inflation system and new Lumens are distributed each year. The Lumens can serve as an anti-spam role by implementing a transaction fee of 0.000101 Lumens to prevent malicious intentions from flooding the network. In addition, it can be the bridge between two currencies when there is not a large direct market.

FUTURE DEVELOPMENT
On May 2017, the Stellar blog summed up that Lightyear.io has successfully launched. It is a company with focuses on global partner integrations, as well as marketing and distributing the Stellar network.
On the other hand, Stellar has joined WanCloud, a Chinese new blockchain product which provides an ecosystem for open-source blockchain protocols to be localized and made easily accessible to the Chinese development community and enterprise users. WanCloud will add more Stellar nodes in China, provide free sandbox environment and support applications built on top of the Stellar protocol.

TRADE SUGGESTIONS
The Stellar network is aiming to provide a convenient and accessible bank solutions in Africa for the unbanked. Unlike Ripple, it has a greater aim of including everyone in the network. However, it suffers from the same problem as Ripple. Lumens, as the bridge currency, are meant to be stable and they do not necessarily become valuable even if the network becomes widely spread.
There was a significant rally of price in May, and then it kept fluctuating. In my opinion, the Stellar network could be useful but the Lumens are not. Hence, I believe the price will be dropped near to its initial level in the long run so I will suggest selling it.

INVESTMENT RISKS
The Stellar network is very similar to that of Ripple, and therefore they are believed to be competitors. However, with a huge difference in market capitalisation while Stellar does not really providing distinctive features, it could be washed out of the market eventually and the Lumens will become worthless.

 

12.BANCOR (Published: 24th Jun, 2017)

BASIC INFORMATION
Bancor Protocol is a recently developed project in 2017 that issued an ICO on 12 June 2017 and has raised about $150 millions in Ether in three hours, making it the second-largest fundraising campaign in the blockchain industry. It aims at providing a liquidity solution for small-scale tokens which suffer from low trading volume and hence a poor market exchange rate with other popular currencies.
Standard ERC20 tokens implementing the Bancor Protocol will become smart tokens which will hold a balance of at least one reserve token, be it Ether or any other standard ERC20 tokens. The smart token is minted when purchased and destroyed when redeemed, therefore one can always buy or sell the smart token with its reserve token. In addition, price is determined automatically to maintain a constant reserve ratio (CRR) and as a result, liquidity is provided without an exchange.
The significance of these smart tokens is illustrated by creating the Long Tail effect. The liquidity they provided can lower the barrier for user-generated currencies to connect with the global market, which would stimulate the creation of tremendous amounts of innovative small-scale tokens. Just like Youtube allowing users to upload and share videos easily, the long tail created by the Bancor Protocol can potentially change the economy.
The Bancor Network Token (BNT) is the first smart token that uses Ether as a single reserve token. BNT can be the common reserve token of other newly issued smart tokens, forming a network of tokens. When demand of a particular smart token increases, it will increase the demand of its reserve token and thus drive up the price of the network token, which will eventually raise the value of the entire network as a CRR has to be maintained. There are also other functionalities such as the Token Changers, Decentralised Token Baskets, all of which are introduced in their white paper.

FUTURE DEVELOPMENT
The Roadmap of Bancor on Trello stated a list of features currently being tested on the test environment and the plans for the next release, of which the most important one is enabling buy and sell smart tokens for Ether. The release date is not announced, though.
On the other hand, TaaS, a tokenized closed-end investment fund for blockchain projects, has invested in Bancor for 352 Bitcoin, which is equivalent to $1 million. They have established a strategic partnership for shared profit, starting from August, while TaaS will announce additional investment in Bancor before the end of July.

TRADE SUGGESTIONS
The Bancor Protocol is a solid idea and it has been an immense success in the ICO, indicating that many other investors are also being optimistic about its development. Moreover, its first smart token BNT will become the major reserve token of other new smart tokens, meaning that the network effect will only raise its value as the project improves and more smart tokens are created. Although it is still not available to trade freely on the market, it is recommended to buy whenever it is possible due to the huge potential upsurge.

INVESTMENT RISKS
Overall the Bancor Protocol is a promising project, and its price would certainly rise in the short-term. However, to sustain the growth, mass adoption is the key as the network effect of BNT relies on it to become beneficial. Also, it is possible for people to create another network token on Bancor and become more popular than BNT. After all, if the team fail to market their own BNT, the whole system might still work, but the value of BNT would depreciate.

11.STRATIS (Published: 23rd Jun, 2017)

BASIC INFORMATION
Stratis is a platform which aims at providing an easy way for everyone to understand blockchain. It offers affordable solutions for blockchain development, testing, and deployment of applications. Besides, its enterprise development platform had accessible solution for enterprises to build blockchain apps. Stratis stands out from other blockchain platforms by having the focuses on native C# and .NET applications, making it easier for software developers to transit without having to learn a completely new coding language.
STRAT is the token used to fuel the platform. A token is issued per block and it will take around 60 seconds. Unlike Bitcoin and Ethereum, it can be effectively stored in a native wallet with a Proof-of-Stake algorithm to reward people for doing so.

FUTURE DEVELOPMENT
In April 2017 Stratis announced its first masternode to support its new Breeze Wallet, which is a solution for the privacy issues about transactions in Bitcoin. It uses a TumbleBit protocol that can achieve private and unlinkable transactions with a decentralised and trustless manner. To run a masternode, some requirements have to be met like locking up certain amount of STRAT or BTC in the wallet for the corresponding transaction-handling nodes. In addition, other nodes with different functionality will be release in the future such as payment nodes and side-chain nodes.
On the other hand, Stratis has been actively working with other groups to improve the company. For instance, in March 2017, it had announced a partnership with the Escalate Group to redefine business strategies. On the same day, they worked with Seraph to define the VC funding strategies. It is clear that Stratis is getting ready to grow.

TRADE SUGGESTIONS
Stratis is potentially a very user-friendly platform for enterprises to develop their own blockchain apps. Compare to Ethereum, it should be easier to use due to using an existing programming language. However, it has the same problem as Ripple, which is its coin being not valuable. Even if Stratis tries to promote the usage of STRAT by the masternodes, it still will not become a major cryptocurrency in the future.
The price of STRAT has been fluctuating these days and STRAT/USD dropped from around $10 to $7. Its price has been rising for over 200% since last month but then began to decline. I think the market right now is driven by the hype of rallying and the coin is overvalued. Therefore, I will recommend selling STRATS.

INVESTMENT RISKS
As I mentioned, the price right now is pushed by the hype of emotions, so it could fall significantly later if people are selling with strong market emotions. After all, Stratis is a platform for enterprises to develop blockchain apps, but not a digital currency solution for the economy. Its competitor, Ethereum has become more and more popular these days due to its bright development and the hype of ICOs, and hence the adoption rate of Stratis is another concern and STRAT will become worthless if the platform does not get popular.

 

10.MONERO (Published: 22nd Jun, 2017)

BASIC INFORMATION
Monero was launched in April 2014 with the focuses on privacy, decentralisation, and scalability. Instead of a derivative of Bitcoin, it is based on CryptoNote which has a brand new codebase.
Monero’s major feature is about protecting customer’s privacy. Unlike Bitcoin which clients’ public addresses and funds can be seen by everyone on the blockchain, Monero can hide all of them, with ring signatures making addresses untraceable and ringCT hiding the amount of funds.
About decentralisation, Monero uses a CryptoNight Proof of Work algorithm with a designation for common used CPUs so that this smart mining feature can allow transparent CPU mining, instead of the centralization of mining farms and pool mining. Besides, scalability issues are solved by having no limits on block size with decreasing rewards for larger blocks.

FUTURE DEVELOPMENT
In August 2016, AlphaBay, the largest dark net black market has announced the acceptance of Monero in addition to Bitcoin. Moreover, in September of the same year, Monero launched the Monero Market in the dark net marketplace with the aim of creating a market that solely uses Monero. Unfortunately, the markets went offline 20 days later due to zero activities in it. Apparently, Monero is trying to gain some popularity among the dark net markets due to the fact that its privacy features are very compatible with the black markets.
On the other hand, despite having several projects being developed at the moment like the Kovri router to improve privacy and the URS anonymous voting system, there are no announcement about major big updates.

TRADE SUGGESTIONS
Indeed, among other altcoins, Monero seems to have the best solution in terms of privacy, and it is still working in different features to make it better. However, the problem is that retail users are not that concerned about privacies, unlike institutional investors and hackers. It seems that more marketing and education has to be done in order to make Monero more popular. Also, the increasing engagement with the dark net market has also given bad reputations to Monero and made it even harder to be adopted by ordinary users.
Nevertheless, the price of Monero has been showing some good signs with an uptrend since September 2016. In fact, it is the best solution to privacy issues in cryptocurrencies. The potential should not be overlooked but its features are not critical enough to become a widely adopted cryptocurrency. Hence, I will suggest selling it.

INVESTMENT RISKS
It is foreseeable that Monero will continue engaging with the dark net markets to promote its coin. The risk, however, is that investigating authorities are monitoring them very closely and they might intervene those markets at some time. if this happens, Monero will be struggled to develop a solid market and its value will drop

 

9.DASH (Published: 21st Jun, 2017)

BASIC INFORMATION
DASH was originally developed in January 2014 as “XCoin”, then changed the name to “Darkcoin” on February, and finally rebranded as “DASH” in March 2015. It was a fork of Bitcoin and therefore had a very similar code structure. Nevertheless, with the improvements of developers, DASH now becomes an alternative to Bitcoin with a focus on privacy and fast transactions, and ultimately make digital cash easy to use and access for all users.
DASH uses a 2-tier network. The first tier is like the one in Bitcoin where miners create blocks. The second tier are consisted of “master nodes”, which require 1000 DASH as collateral, to perform specific governance and features like PrivateSend and InstantSend.
DASH is a decentralised autonomous organisation which acts as a “treasury system” to fund developments. 10% of the block rewards will go to the” treasury” to pay for development projects submitted from the community, where master nodes have votes to decide which projects to be approved.

FUTURE DEVELOPMENT
DASH continues to aim for massive market adoption. A news on 8 June 2017 stated that late in this year DASH will release an upgrade to improve the user-interface in order to make it more user-friendly. However, before that, two proposals have been funded to make DASH more attractive.
The first one is a social media project which will include videos about fun and new usage of DASH. It will also include contests and giveaways in social media hashtags to incentivize growing global attention on Dash. At the same time, the second project is a new website DiscoverDash which contains the list of businesses accepting DASH worldwide. In addition, the website will also provide resources and guides to new users and merchants adopting DASH.

TRADE SUGGESTIONS
Apparently DASH is working hard towards market adoption, in spite of having a well-featured currency already. With the self-funding governance system, it is growing fast and healthily and has a high potential to capture some territories of Bitcoin.
The price of DASH has been rising again after a short falloff from March. With more upgrades to be released, its price is expected to be risen to a higher level. On the other hand, although it is similar to XEM as a digital currency, it excels in the marketing of massive adoption, and hence it should grow higher and it is recommended to buy it.

INVESTMENT RISKS
Even with the works of the development team, the adoption rate of DASH is still low. Investing in these kinds of “Bitcoin alternatives” is always risky as the competition is high and new coins with even better features are coming up every day. Essentially, DASH can lose its values if it cannot keep up with the competition. In addition, as critics stated, the fact that the DASH is running a network that pays masternodes and gives them voting power may lead to centralisation issues, making it even more difficult to market and raise the adoption rate

 

8.ETHEREUM CLASSIC (Published: 20th Jun, 2017)

BASIC INFORMATION
Ethereum Classic was split from Ethereum in June 2016 after the attack towards DAO, a new Ethereum crowd fund. Long story short, a hard fork was implemented to reverse all DAO tokens into ethers to investors and this act was highly controversial. As a result, a group of people opposed the fork and tried to stay on the original blockchain. Since then, from block 1,920,000, the new blockchain with the hard fork became Ethereum, while the original chain was named Ethereum Classic.
While these two blockchains shared the same past blocks and similar features, Ethereum Classic has a strong vision of freedom from censorship, fraud or third party interference and claims that it will never change the history of ledgers for any reasons.

FUTURE DEVELOPMENT
In May 2017, the Ethereum Classic community released a statement for a proposed monetary policy about deploying a limit of 230 million on the ETC tokens, with a reducing block reward for about 20% every few years. Ethereum Classic's anonymous project coordinator, Arvicco, explained that unlike the unlimited token inflation of Ethereum, this policy can be the foundation of all future positive developments.
On the other hand, IOHK, an active company in the community, is supporting the development with seven full-time developers on the subject of Scala implementation. Instead of the Proof of Stake algorithm proposed by Ethereum, they are planning to implement a hybrid between the Proof of Work and Proof of Stake algorithm, with the beta version expecting to be released this summer.

TRADE SUGGESTIONS
After all, other than holding on a different ideology, Ethereum Classic is actually trying to develop distinctive features from Ethereum. However, it still remains debatable whether which one from the family is better until both of their updates have been implemented. In addition, at the time being most projects are still being developed on Ethereum, implying that the difference in only the ideology is not enough to move the developers.  Hence, the adoption rate of Ethereum Classic remains uncertain.
Looking at the chart of ETC, the price fell off after the initial passion about immutability, but has risen again due to the announcement about the future developments. Due to the fact that both ETH and ETC are expected to released updates within this year and that failure of one side would possibly cause a shift to the other side, I recommend buying both ETH and ETC to hedge against each other.

INVESTMENT RISKS
Right now Ethereum Classic is not offering enough to attract investors and developers from Ethereum. The updates in this summer might bring some changes, but they will still need to keep adding new features in order to be distinguished from Ethereum. A lot of works have to be done to keep up with the competitively, and hence the chance of them failing is actually greater than that of Ethereum due to having a smaller development team.

 

7.CM SECTORS: VERSION1 (Published: 19th Jun, 2017)

We have grouped the major altcoins based on their basic features/charactersetics. Please find below the list of first version of CM sectors-

Sector1: Privacy-based coins
Members: Monero, DASH, Zcash, Bytecoin
Features: Coins with untraceable transactions

Sector2: Asset-related platforms
Members: Ripple, Stellar, Bitshare
Features: Platforms allowing
-Transfer of any assets around the world quickly and cheaply
-Convert between fiat currencies or cryptocurrencies

Sector3: Application-building platforms
Members: Ethereum, Ethereum Classic, Stratis
Features: Platforms for developers to create blockchain applications.

Sector4: Typical currencies
Members: Bitcoins, XEM
Features: Typical coins for transactions

Sector5: Social media
Members: STEEM
Features: Decentralised social media platforms

 

6.NEM (Published: 19th Jun, 2017)

BASIC INFORMATION
NEM (New Economy Movement) was launched in 2015 by users in the BitcoinTalk forum with the goal of creating community-oriented cryptocurrency from the ground up. Hence, although all of the developers of NEM are pseudonymous, they are still largely trusted by the NEM community.
NEM, with XEM as the currency, is a cryptocurrency with completely new codes and features compared to Bitcoin. For instance, it cannot be “mined” with all coins released at the launch. While using the Proof of Importance mechanism to save energy instead of the energy demanding Proof of Work system, it has a unique harvest mechanism to allow a fast 1 minute transaction time. There are also other features include encrypted messaging functions, multisignatures, customisable assets “Mosaics”, and an Eigentrust++ reputation system.

FUTURE DEVELOPMENT
After going through the alpha and beta testing in 2014, the final stable version of NEM was released in 2015 and had been under active development.
On November 2016, the team released a white paper introducing the NEM version 2.0, Catapult, with new and improved features to increase throughput, flexibility, stability, optimization of network communication, and scalability, offering better network performance. However, despite the fact that the developers aim to release it in 2017, no clear schedules can be found.

TRADE SUGGESTIONS
Overall, the technology of NEM seems promising, and it has a great potential to prevail Bitcoin and becomes a widely-adopted cryptocurrency. However, even as the developers claimed that they do not just try to replace Bitcoin but to revolutionise the economy, its adoption rate is still low and it takes a long time to market its advantages. On the other hand, Bitcoin, as a first mover in the field, is still dominating the market and it will not be replaced easily.
Looking at the rank of market capitalisation of cryptocurrencies, XEM is now at the fourth place even with a low volume compared to the others in the top 10. With a significant rising price over the past few months, it should still have some momentum in the future. Therefore, it is suggested buying it now and also expect a rise in value after the release of the Catapult.

INVESTMENT RISKS
Even if this coin has the potential to rise or eventually beat Bitcoin, it could take a much longer time to achieve, making the investment stale. Worse still, there are numbers of altcoins in the market trying to replace or surpass Bitcoin. With such a fierce competition, XEM might fail to outperform the others and lose its value in the end.



5.Status im: ICO Research (Published: 16th Jun, 2017)

Overview
In short, Status is a project aiming to be the WeChat and App Store for Ethereum. It is an open source messaging platform and mobile interface to interact with decentralized applications that run on the Ethereum Network. Its goal is to drive mass adoption of Ethereum by providing a user-friendly platform for people to get on board.
Status started in Q1 2016 and its alpha for both Android and iOS was released in January 2017, including various features like sending and receiving smart contracts, browsing a DApp directory like an App Store, and storing crypto-assets with the built-in Status Wallet.  

ICO review
The Status ICO is scheduled between 17 June to 1 July but then delayed to 20 July for more awarenesses on structures and procedures such as the dynamic ceilings. It is an highly anticipated ICO with over 9,000 members on slack, compared to 2,600 in the icocrypto subreddit. Its SGT (Status Genesis Tokens) distribution programme has gained significant supports with around 20 million SGT being issued (4% of the total supply of SNT). During the ICO, 51% of Status Network Tokens (SNT) will be issued to the public, of which maximum 10% will be allocated to the SGT.
The project could be a huge success as it has an ambitious goal of being the WeChat of the West with many features that are unparalleled in current messaging apps. In addition, as stated in the white paper, the co-founders has been working together for 6 years, while Status also has a long history of 1 year, compared to other ICOs. Besides, they have advisors like Viktor Trón from the Ethereum Foundation, who are reputable within the blockchain world.
To conclude, the Status project should be profitable for short-term flipping due to its high anticipation. It is also worth holding in the long term as well because it has a good team and industry revolutionising potential. However, there are still some concerns, like getting mass adoption is the key to success, and also they have listed many problems to be solved in the white paper. After all, with such an ambitious goal, the risk of failure is also high. This is a high risk high reward investment and therefore it is recommended to allocate a small amount of capital in the ICO.


4.RIPPLE (Published: 16th Jun, 2017)

BASIC INFORMATION
Ripple was first developed in 2004 and it is still under development by Ripple Labs Inc. with the vision of enabling the world to move value like it moves information today. It is a protocol that allows institutions to transfer any kinds of assets instantaneously with lower costs.
Meanwhile, XRP is the digital currency issued by Ripple Labs. The main purpose of this currency is to act as a bridge. For instance, when two rarely exchanged assets are required to be transferred, XRP can become the intermediate currency to facilitate the process. Although it is similar to Bitcoin which can be freely traded on numerous exchanges and has a finite number of supplies, it’s main advantage is the extremely low transaction fee compared to Bitcoin. Also, some portions are retained by Ripple Labs and they are issued when necessary, hence they cannot be “mined”.

FUTURE DEVELOPMENT
With response to the critiques about Ripple Lab holding the majority of XRP, in May 2017 they announced that the firm will lock up over half of the coins in escrow contracts for 54 months at the minimum. This has removed the fear that the market will be suddenly flooded with the currency.
Also in May 2017, the company stated that Ripple has reached to six more exchange platforms including BITSO, bitbank, coinone, BitGo, AlphaPoint, and BuyBitcoin. This reduces the friction for investors send payments in these rapidly growing markets.
Nevertheless, in May 2017 the hardware wallet Ledger has announced the support for XRP. Given that there is a lack of proper XRP wallet, this would be a good sign about XRP’s future development.

TRADE SUGGESTIONS
After several announcements in May, as mentioned above, the price of XRP has dropped significantly, reflecting that investors were still not confident about the future development of XRP.
In my opinion, Ripple would be a useful replacement of the current SWIFT banking system, it just needs more time to develop the technology and negotiation with the banks. However, the coin XRP is not particularly valuable as it is not technologically innovative and its value should remain stable in the long run so there is not much potential for profits. Therefore, it is suggested selling XRP.

INVESTMENT RISKS
In fact, XRP is not suitable as an investment due to its inherent nature. Unlike other traditional cryptocurrencies, it acts as a tool to facilitate the functions of the Ripple network, but not a store of value. Also, XRP is centralised by Ripple Labs and they have stated that they do not promote XRP as a speculative investment. Therefore, it is not suitable as a long-term investment.

 

3.LITECOIN (Published: 15th Jun, 2017)

BASIC INFORMATION
Litecoin was announced in 2011 by former Google engineer Charlie Lee with the goal of being the “silver” while Bitcoin being the “gold”. The motivation of creating it is to improve upon Bitcoin. As a result, these two cryptocurrencies have many similarities.
However, despite using the same concept to develop, they do have some differences. The key one is that Litecoin is designed for faster transaction confirmation (on average 2.5 minutes), compared to Bitcoin’s 10 minutes (or more). Hence, Litecoin can handle a much larger volume of transactions than Bitcoin and as a result, Litecoin will be producing more blocks and have a limit of 84 million units.
Another key feature is that Litecoin uses the Scrypt algorithm which targets regular computers and GPUs most people already have, while Bitcoin uses the SHA-256 algorithm and relies on the raw processing power, which started an “arms race” in ASIC technology.

FUTURE DEVELOPMENT
Unlike Bitcoin’s debate, Litecoin has successfully deployed the “Segregated Witness” on 10 May 2017 without major issues. Following with this implementation, the creator Charlie Lee has announced Litecoin’s 2017 roadmap on 17 May 2017 with the highlights of smarter contracts and atomic swaps.
Smart contracts are programmes that execute exactly as they are set up to by the creating parties. Bitcoin was the first support smart contracts but it is limited to currency uses, while Ethereum shines in this area as it allows users to programme their own contracts. In the case of Litecoin, the activation of SegWit opens room for more complicated payment conditions, effectively replicating what Ethereum has achieved.
Atomic swaps mean the possibility of two people from different blockchains to exchange their tokens without consulting an intermediary. Recently another coin, Vertcoin has also activated SegWit, which allows experiments of atomic swaps between Litecoin and it. However, as Charlie stressed, this will be a slow process.

TRADE SUGGESTIONS
The price of Litecoin has experienced a significant rise since April this year, which is probably due to the announcement of the SegWit activation. However, right after the activation, it’s price had dropped from the ATH because less discussion was put on it and hence the bullish passion declined.
Still, it has solid future plans and the Litecoin Foundation established this year has raised enough funds to employ more full-time developers. On the other hand, the price of Litecoin, after the correction, has been rising again and therefore it should have the momentum to rise to a higher point in the next couple of months. Therefore, it is suggested buying Litecoin.

INVESTMENT RISKS
Other than the common cryptocurrency risks, fundamentally, Litecoin is the same as Bitcoin with nothing really new to offer, while Bitcoin is still the mainstream with the highest market capitalisation and media exposure. Specifically, the average daily transactions of Litecoin is 15k while that of Bitcoin is 300k, which is a huge difference. At the end of the day, Litecoin might not have enough features to prevail Bitcoin, then it will lose its values as it also does not have distinctive features compared to other altcoins.

 

2.ETHEREUM (Published: 14th Jun, 2017)

BASIC INFORMATION
Ethereum was proposed by a 19-year-old programmer Vitalik Buterin at Toronto in 2013 with the vision of building decentralized applications without third parties and becoming the “world computer”.
In traditional applications, data is processed by a third-party company and stored in their servers. Although this is convenient with their specialist teams managing and secure the data, it at the same time has the vulnerability of being hacked and governments accessing them undesirably. Meanwhile, Ethereum, using the blockchain technology, replaces the servers and clouds with thousands of “nodes” run by volunteers around the world so that applications are ran by these thousands of computers together and become decentralised (Dapps).
If a client wants to request to run an application, he can do so by paying the contributors Ether, which can be earned by exchanging dollars or contributing resources to the network. In this way, it becomes an ecosystem which incentivise developers to write better programmes (inefficient codes would now cost more) and at the same time compensating contributors.

FUTURE DEVELOPMENT
In a recent interview on 4 June 2017 with Andrew Keys, co-founder of an Ethereum company ConsenSys (Consensus Systems), he explained that three major upgrades in the scalability of Ethereum are believed to be happened, including State Channels, Proof of stake system, and quadratic sharding.
State channels is a system that allows most transactions to be processed on off-chain channels and only writes the final result to the blockchain. It can improve privacy, prevent the payment conflicts, and lower the transaction costs. The first off-blockchain transaction has been successfully done by Ethereum developers in Gnosis on August 2016.
Proof of Stake is the replacement for the existing proof of work system which miners have to spend a lot of computer power to solve puzzles to generate a block. With the new system, they can now do the same task by proofing how much stake (Ether in this case) they own instead, effectively saving energies. This Proof of Stake system is scheduled for the summer of 2017.
Sharding is about breaking the blockchain into many shards so that each “node” is responsible for one shard instead of the entire blockchain. This can save memories on nodes and thus reduce the processing time. The sharding technology will be released with the Proof of Stake in the summer of 2017 as Ethereum 2.0.

TRADE SUGGESTIONS
The price of Ethereum has risen significantly this year, rising from around $10 in January 2017 to $400 in June. With the fact that it is a disruptive innovation of the current applications, increasing numbers of organisations support by participating in the Enterprise Ethereum Alliance (EAA), and the plans for scaling in the summer this year, its price is expected to rise to a higher point in these few months. Hence, I would suggest buying Ethereum.

INVESTMENT RISKS
As Ethereum is also a new cryptocurrency, it bears the same risks with Bitcoin: volatile and vulnerable to regulations and hacking. In addition, despite having proper development plans, the implementation of Ethereum 2.0 and future versions has many hard-forks which are irreversible. If some system failures occur, there will be a catastrophe effect towards to whole network.

 

1.BITCOIN (Published: 13th Jun, 2017)

BASIC INFORMATION
Bitcoin was first introduced in 2008 by the pseudonymous Satoshi Nakamoto and the idea was to create “a purely peer-to-peer version of electronic cash which would allow online payments to be sent directly from one party to another without going through a financial institution.”
Bitcoin is the first application of the blockchain technology. In its software there is a file, called “The Bitcoin Blockchain”, storing in thousands of computers across the world which contains all the bitcoin transactions that have ever happened. The computers having this file can connect with each other with the same software to validate and keep track of bitcoin payments. Whenever a payment is made, a payment instruction will be sent to the network and after some time has passed, it will be included in one of the block updates, and is added to “The Bitcoin Blockchain” file on all the computers across the network.
The Bitcoin ledger is a new kind of payment system. Unlike fiat currencies, it has a fixed supply of 21 million coins and cannot be printed on-demand nor controlled by an institution. With this decentralised feature, no trust is needed, allowing transactions from anyone to anyone at any time. On the other hand, with the ledger written into thousands of computers, it will be nearly impossible to hack or manipulate the records, making Bitcoin a safe digital currency. In short, Bitcoin is the first cryptocurrency which is decentralised yet secure. It has created a new page in the currency history and provides a unique alternative to online payments.

FUTURE DEVELOPMENTS
Being the most popular cryptocurrency, Bitcoin has experienced an increasing amount of transaction volume since its release. With the size of each block limited to one megabyte, delays are beginning to happen, increasing the transaction time. As a result, scaling the network is required but there is no consensus among the community about how to do it.
There are two camps in the debate with two distinct and mutually exclusive solutions. The first one is  “Bitcoin Unlimited” which proposes to change the block size to unlimited, while the second proposal is “Segregated Witness” which tries to reduce the size of each transaction by reorganising its details. Each method has their pros and cons and the issue remains controversial. 

TRADE SUGGESTIONS
Bitcoins’ innovative features have the potentials to revolutionise the traditional payment system so it is expected to become more and more popular and widely adopted and hence its value should keep rising. This can be reflected by its price: it was trading at around $100 in 2013, $500 in 2016, and $2500 right now. Also, as the first mover, its network effect can also support the price to edge up.
However, the aforementioned controversy is critical to the future of Bitcoin, and the debate would need a much longer time to reach a consensus. Before a solution is implemented, the long transaction time will hurt the user's’ experience and Bitcoin’s reputation and popularity. Together with other risks, I think the bullish market will still have some momentum but it will slow down eventually. Therefore, we suggest selling Bitcoin.

INVESTMENT RISKS
While having the highest market capitalisation so that Bitcoin will not evaporate overnight easily, it is still a volatile asset. In addition, currently it is not regulated in most countries, so any regulations or negative news from the government can have a huge impact to the price. Besides, as everything are network-based, a large-scale hack on exchanges can cause serious loss. In general, a tight money management and risk calculations should be taken into consideration.

  

 

 

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