Bitfinex has announced that there are now 12 new altcoins to trade on its platform, according to a press release.
Bitfinex says that the new coins are "...a curated selection of high-quality projects, each pioneering research within various sectors of Blockchain
Blockchain
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Read this Term development." They have a combined market capitalisation of over $1 billion and can all be traded against BTC, ETH and USD.
The coins are:
Aion (AION) - "designed to support custom blockchain architectures, while providing a trustless mechanism
for cross-chain interoperability"
IOSToken (IOST) - "The New Pinnacle of Throughput"
Request Network (REQ) - "allows anyone, anywhere to request a payment"
Raiden Network (RDN) - "an off-chain scaling solution, enabling near-instant, low-fee and scalable Payments
Payments
One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times.
One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times.
Read this Term"
Loopring (LRC) - "a decentralized, automated trading intelligence interfaces between crypto exchanges and blockchains, using our balance sheet to enable users to realize liquidity many times greater than available directly in the market"
BnkToTheFuture Token (BFT) - "allows investors to trade equity stakes in companies involved with the blockchain"
Cofound.it (CFI) - "a platform that connects you to teams that have trained to become serious blockchain businesses"
Wax (WAX) - "enables anyone to operate a fully functioning virtual marketplace with zero investment in security, infrastructure, or payment processing"
SingularityNET (AGI) - "lets anyone create, share, and monetize AI services at scale"
MedicalChain (MTN) - a blockchain designed to "securely store and share electronic health records".
Odem (ODEM) - "an On-Demand Education Marketplace built on the Ethereum blockchain."
Perhaps most interesting is the inclusion of Dai (DAI), a cryptocurrency whose price is tied to the US dollar. This is interesting because Bitfinex already also has (uncomfortably) close ties with a coin which claims to do this - Tether. In fact, Bitfinex has come under fire relationship with Tether, which is suspected of not being able to back up its tokens with dollars as it claims.
Bitfinex published this statement in Medium:
"In addition to the tokens outlined above, we will also be adding support for Dai. Dai is a digital, decentralised stablecoin built on Ethereum, developed by the MakerDao team. Dai will initially be made available against BTC, ETH and USD whilst we explore the possibility of adding additional DAI pairs.
Through the combined integration of DAI and USDT we aim to connect currently disparate markets and facilitate new trading opportunities across a diverse range of tokens, markets and exchanges."
Jean-Louis van der Velde, Bitfinex CEO, said: "The introduction of such a large selection of tokens, representing a diverse array of blockchain-based projects, marks an exciting development for Bitfinex."
Bitfinex is a cryptocurrency exchange with daily trading volumes of over $500 million. As a company it is both successful and mysterious. It was originally founded in Hong Kong in 2012, but its employees and subsidiaries are spread around the world, from France to California. It is operated by a Hong Kong-based company called iFinex Inc.
We reported on Bitfinex yesterday regarding its alleged connection with criminal activity in Poland. Bitfinex denies the rumours and the investigation is ongoing.
Bitfinex has announced that there are now 12 new altcoins to trade on its platform, according to a press release.
Bitfinex says that the new coins are "...a curated selection of high-quality projects, each pioneering research within various sectors of Blockchain
Blockchain
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Read this Term development." They have a combined market capitalisation of over $1 billion and can all be traded against BTC, ETH and USD.
The coins are:
Aion (AION) - "designed to support custom blockchain architectures, while providing a trustless mechanism
for cross-chain interoperability"
IOSToken (IOST) - "The New Pinnacle of Throughput"
Request Network (REQ) - "allows anyone, anywhere to request a payment"
Raiden Network (RDN) - "an off-chain scaling solution, enabling near-instant, low-fee and scalable Payments
Payments
One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times.
One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times.
Read this Term"
Loopring (LRC) - "a decentralized, automated trading intelligence interfaces between crypto exchanges and blockchains, using our balance sheet to enable users to realize liquidity many times greater than available directly in the market"
BnkToTheFuture Token (BFT) - "allows investors to trade equity stakes in companies involved with the blockchain"
Cofound.it (CFI) - "a platform that connects you to teams that have trained to become serious blockchain businesses"
Wax (WAX) - "enables anyone to operate a fully functioning virtual marketplace with zero investment in security, infrastructure, or payment processing"
SingularityNET (AGI) - "lets anyone create, share, and monetize AI services at scale"
MedicalChain (MTN) - a blockchain designed to "securely store and share electronic health records".
Odem (ODEM) - "an On-Demand Education Marketplace built on the Ethereum blockchain."
Perhaps most interesting is the inclusion of Dai (DAI), a cryptocurrency whose price is tied to the US dollar. This is interesting because Bitfinex already also has (uncomfortably) close ties with a coin which claims to do this - Tether. In fact, Bitfinex has come under fire relationship with Tether, which is suspected of not being able to back up its tokens with dollars as it claims.
Bitfinex published this statement in Medium:
"In addition to the tokens outlined above, we will also be adding support for Dai. Dai is a digital, decentralised stablecoin built on Ethereum, developed by the MakerDao team. Dai will initially be made available against BTC, ETH and USD whilst we explore the possibility of adding additional DAI pairs.
Through the combined integration of DAI and USDT we aim to connect currently disparate markets and facilitate new trading opportunities across a diverse range of tokens, markets and exchanges."
Jean-Louis van der Velde, Bitfinex CEO, said: "The introduction of such a large selection of tokens, representing a diverse array of blockchain-based projects, marks an exciting development for Bitfinex."
Bitfinex is a cryptocurrency exchange with daily trading volumes of over $500 million. As a company it is both successful and mysterious. It was originally founded in Hong Kong in 2012, but its employees and subsidiaries are spread around the world, from France to California. It is operated by a Hong Kong-based company called iFinex Inc.
We reported on Bitfinex yesterday regarding its alleged connection with criminal activity in Poland. Bitfinex denies the rumours and the investigation is ongoing.
