Bitcoin is unstoppable. This week its price surged to $5800. Billionaire and Wall Street giant Mike Novogratz estimates that the price will hit $10,000 in next few months. With over 17 Mn Bitcoins mined so far, leading cryptocurrency Bitcoin-wealth has grown to $88 Bn worldwide, and is beyond the powers of regulators and governments. As can be seen in China, the ban on Bitcoin will only encourage underground economy; but, the trading will hardly stop. Similar is the case with Ethereum. Despite the upcoming hard-fork, the price is surging to an all-time high.
Let’s take a look at the recent developments from the world of cryptocurrency!
Vizag Blockchain Conference: Australia-based Startups Coinlancer And ABCDe One Coin Launch New Cryptocurrencies
Developed on Ethereum platform, Coinlancer provides pre-mined tokens to help freelancers and clients connect remotely through smart contracts. The platform connects freelancers and clients; however, unlike other platforms which charge 10-20% of every freelancing assignments, the platform charges one time 3% fee for all future jobs.
The infamous One Coin is back. Australian cryptocurrency startup ABCDe has relaunched One Coins. Speaking to Inc42, ABCDe President Nuri Amir said, “The new One Coins are very much based on decentralized blockchain platform unlike the previous One Coins.” Speaking about the how different One Coin is, she said, “One Coins are significantly different from Bitcoins at three parameters. We have decreased the block confirmation time from 10 minutes to one minute. The block size has also been increased from 1MB (Bitcoin block size) to 9 MB. In case of One Coins, we have employed both Proof-Of-Work (POW) and Proof-Of-Stake algorithms along with CPU and GPU mining platforms to ensure everyone can mine profit from One Coin.”
On April 30, 2017, Navi Mumbai Police had arrested 18 people trading One Coins through Ponzi schemes. The police also freezed $3 Mn from their accounts.
In a separate news, web daily Coindesk reports the launch of another cryptocurrency called Basecoin. Backed by big investors like Bain Capital Ventures, Digital Currency Group, MetaStable Capital, Pantera Capital and PolyChain Capital, Basecoin developers hail its blockchain as a blockchain with the built-in ‘brains’ to manage monetary policy.