"Develop a passion for learning. If you do, you will never cease to grow."
- Anthony J. D'Angelo
Happy Friday, the weekend is hereeeee! But first, we have another installment of our crypto deep dive on IOTA for you today, so be sure to check that out 👍
Before you head off and do your thing, don't forget to answer our poll below as always 😉Enjoy your weekend 🍻and for some of you... keep feeling the burn! 🔥🔥🔥
The markets have not been moving much lately, and today is yet another quiet day in the market. Total market capitalization has been hovering within the tight $221 - $226 billion range, with low volatility market action. 24-hour trading volume has been consistent this week at the ~$13 billion levels. 😴
BTC is currently trading slightly below the $7,000 mark at ~$6,955, which is a small ~0.34% dip from yesterday. BTC dominance also did not sway much this week, and remained within the high-52% to mid-53% zones.
As for the other cryptocurrencies, most saw price movements below 5%. Unlike most days where their price movements follow in the same direction at BTC's, today we see about half of them seeing gains and the other half seeing losses. Notable mover today is DOGE, which is up 19.24%, continuing on with a second day streak 🐶 Such growth, much excites 🐶
Tricks of the trade
Multinational consultancy firm, PricewaterhouseCoopers (PWC), has introduced a digital skills program aimed at improving employee expertise on new technologies like blockchain 🤓
The “Digital Accelerators” program will see 1,000 employees undergo a two-year training program that will cover topics from blockchain to 3D printing to drones 🛸 Sarah McEneaney, head of this program, hopes that through this initiative, PWC will improve efficiency of employees when dealing with tech-heavy problems such that cost savings can be passed on to PWC’s customers. 📚
Trial and error
India’s central bank, the Reserve Bank of India (RBI), has formed an inter-departmental unit to look into the feasibility of introducing a rupee-backed Central Bank Digital Currency (CBDC) into its monetary policy to reduce the costs associated with minting physical cash 👛 For the 2018 financial year alone, costs associated with printing paper notes in India will amount to ~$90 million. 😲
Although the RBI did not reveal if CBDC will be blockchain-powered, it did mention that distributed ledger technology in payment and settlement solutions “holds the promise of significant economic benefits in future.”
Yahoo Finance’s iOS application now has a new feature that supports in-app cryptocurrency trading for BTC, ETH, LTC and DOGE. The new feature, made possible via a partnership with brokerage service provider TradeIt, will soon be rolled out to Android, desktop and other mobile web platforms. 🙌
Bitmain's BTC.com is now offers mining pool services for ETH and ETC.
Dell subsidiary, VMware develops an open-source blockchain "Project Concord" that claims to be both scalable and energy efficient. 😎
Ethereum wallet MyCrypto raises $4 million in their Series A fundraising round, led by Polychain Capital. With the money, they hope to improve the user interface of the wallet. 💰
Crypto deep dive: IOTA
Market Capitalization Rank: 10th
Consensus: Tangle (Directed Acyclic Graph)
Notable Supporters: Richard Soley (OMG's CEO), Johann Jungwirth (Volkswagen's Chief Digital Officer), Rolf Werner (Fujitsu's Head of Europe)
How it happened ⚙️
IOTA was founded in 2015 by David Sonstebo, Sergey Ivancheglo, Dominik Schiener, and Dr. Serguei Popov. It held its ICO on November 25, 2015, and was created with a fixed supply of 2,779,530,283 MIOTA coins.
Why people love it 😘
Tangle has good scaling potential, as it theoretically scales according to the network size.
Network integrity is upheld by everyone, as a small PoW of 2 past transactions is needed to send a transaction. This also makes IOTA energy efficient.
The IOTA network has a data marketplace for connected devices to transfer, buy and sell datasets. Data access can now be monetized. It also helps that machine learning and AI are both rapidly growing industries.
Existing partnerships with strong brands like Microsoft, Volkswagen, Fujitsu and Samsung.
IOTA is theoretically quantum resistant. MIOTA tokens are sent from different addresses, each connected to the seed wallet, for every transaction. This might be increasingly advantageous in the future, when the threat of quantum computing on security becomes more prelevant.
Why people doubt it 🤔
There is currently a presence of a 'Coordinator' entity that monitors transactions. It has the authority to stop bad actors. Although it will be removed once the network is ready, this is currently a centralization issue.
IOTA does not have smart contract functionality. However, the team is working on bringing this up.
Network presently has insufficient nodes and is small, hence only processes about 5 TPS. However, this will scale as the network grows.
Poll of the Day
On a scale of 1-10: "How much do you support corporations jumping on the blockchain bandwagon?"
And... how much is education worth in our tech-driven world today?
What you said
"On a scale of 1-10 (with 10 being the most): How much do you love your current job?"
The average answer was a convincing 7.3. Not too bad, most of y'all seem to like what you do for a living. 27.3% of you guys even voted a '10'! It seems that we have some very satisfied subscribers. 👍
"Would you want to pursue a career related to blockchain now or sometime in the future?"
81.8% voted 'Yes'; 18.2% voted "No".
For those who voted 'Yes': Some said they believe that blockchain is the future and its both promising and exciting – it definitely is an exciting space 💓 The potential is there, but adoption needs to pick up. One said he wants to contribute to a relevant, reliable unbiased, easy-to-read understandable media coverage of blockchain related topics – that's what we are trying to do with this newsletter as well! 🙋One even said he is already trading crypto for a living – Impressive! Making a career out of that must be difficult, so kudos to you! 👍Another said he works for the cable industry and is ready for a change – All it takes is that first step buddy. 👊
One person who voted 'No' said he wants to leave it to the smart ones – I'm sure you're smart enough! We're all in this together 😉
"What would be your dream job? Tell me about it."
One said his dream job is anything in blockchain – there are many jobs out there! The space is opening up. Another said he's already working at his dream job as he works at a bar and gets to hang out with his friends all the time – wow, what a life! 🥂 One person also said his dream job would be to be a F1 Driver – life in da fast lane. 🏎️ Funniest response was my dream job is no job – the bum life chose you. 🤣
Another said he would like an opportunity that's exciting, but where management doesn't care about when and where you work, just about the results you produce – That pretty much sounds like CoinMarketCap 👀See our open positions here 😉
Do continue answering the polls. Your answers are so fun! We love it 🤗
Thank you for reading today's newsletter! Have a good weekend and see ya next Monday! 👋
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