“The world needs new leadership, but the new leadership is about working together”
- Jack Ma
Happy Tuesday, fellow CoinMarketCap-ers! I hope Monday went well and you all had a great start to the week. Did you know that today in history, Jacques Cartier named a town in Quebec, "Montreal" (1535).
In today's newsletter, we will be covering the alliance formed between Hyperledger and the Enterprise Ethereum Alliance (EEA), Bithumb's partnership with ONEROOT and blockchain-relatedcomments made by Bill Clinton during a Ripple conference.
Hope you enjoy today's newsletter, and don't forget to answer the polls down below too (it's about sports today)! Happy reading! 📚
Which path will it take?
We pretty much saw inaction in the cryptosphere over the last 24 hours. BTC continued to hover around the ~$6,600 range from yesterday and remains trading between the 21 and 50-day EMA lines. 😴
However, the market is still primed for an important BTC decision, as BTC continues to approach the end of the triangle pattern it has been trading within since end June. It is interesting to see everything at a standstill with relatively short BTC candlesticks recorded in the last 3 days, which signal and imply indecisiveness from the general public. Even BTC shorts and longs are at one of its closest levels all year. 👀
Total market capitalization dropped slightly by ~$1 billion to ~$221.9 billion. Notable mover of the day is NEM, up ~13.66%. 👏
A formidable alliance has formed
Two of the three largest enterprise blockchain communities, the Hyperledger Project and the Enterprise Ethereum Alliance (EEA), are forming an alliance to bring about common standards between both platforms and build a bigger open-source community reach. 👐
With this alliance, the 200 Hyperledger member organizations could in the near future, interact with tokens and smart contracts on the ethereum public chain through the enabling of "Hyperledger developers to write code that conforms to the EEA specification and certifying them through EEA certification testing programs." The programs are set to launch by the second half of 2019.
Sharing is caring
South Korean cryptocurrency exchange, Bithumb, has inked a deal with ONEROOT to build a distributed decentralized exchange. 🤝
The deal grants Bithumb access to ONEROOT's R1 protocol, a decentralized transaction protocol based on Ethereum, to use it as the foundation blocks of the new decentralized exchange.
The R1 protocol is able to efficiently separate order matching and order execution, but more importantly enable all exchanges accessing it to share order data and liquidity with its revolutionary traffic sharing functionality. This could potentially bring in a great deal of both trading data and liquidity as more exchanges plug into the protocol, thus forming the foundation for a win-win ecosystem with tremendous snowball effect potential. 🚀
During the recent Ripple Swell conference in San Francisco, former U.S. President Bill Clinton (1993 - 2001) stressed the need to avoid too much regulation on the newer technologies like blockchain. ✋
Clinton touched on blockchain's potential, in that its "permutations and possibilities are staggeringly great" due to its applicability "across national borders and income groups." 🤯
However, he also cautioned that cryptocurrencies can be used illicitly to launder money for nefarious activities, and so there needs to be an "intelligent effort to identify the downsides" because we "can't apply old regulatory regime to a new technology" and "end up killing the goose that laid the golden egg." 🔪
Clinton also remarked about the "disparity of access" inevitably increasing as new technologies like blockchain continue to develop and grow, citing the emergence of e-commerce solutions in the late 90s as a parallel.
ConsenSys has invested $6.5 million as the sole investor in the Series A funding round of blockchain startup, DrumG Technologies, that is founded by a former R3 executive Tim Grant. 💰
Ripple’s real-time settlement platform xRapid, a platform seeking to speed up international payments without the need for a pre-funded nostro account, is now commercially available and live.
In an effort to promote crypto use through "practical actions", the oldest tech-focused media publication in China, the Beijing Sci-Tech Report (BSTR), is now will offering subscriptions payable with BTC. 👍
Poll of the Day
How much do you agree: "Individual sports are more challenging than team sports" 🤔
And...do you prefer team sports or individual sports? Tell me why in the polls! 😆
What you said
“On a scale of 1-10 (10 being absolutely love), how much do you like the new BitTorrent protocol with its new user incentivization scheme?”
The average answer was 4. Seems like most of you aren’t digging it.🤔
“Do you think this is a better system for peer-to-peer content distribution?”
66.7% voted “Yes.” 33.3% voted “No.”
I personally think so as well. When you include an incentivization scheme, users will be more inclined to use the platform for longer periods of time as they will now be compensated for doing so. I also think that the ‘pay for higher priority’ is great for seeders, who formerly had nothing to gain from storing and sharing their files on the protocol. Overall, I believe this is a model that will drive more traffic and users to BitTorrent. 👍
“Have you ever used BitTorrent before?”
66.7% voted “No.” 33.3% voted “Yes.”
Wow! I’m surprised with this result. At the very least, I expected the majority to vote “Yes”. Most of my friends and family have used BitTorrent at least once in their lives due to its convenience and friendly user interface. 🤣
Thank you all for reading! See you back here again tomorrow!💙💙💙
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