Srp 12

Nvidia to Focus More on Cryptocurrency Mining Market

· August 12, 2017 · 2:15 pm

In the wake of record-setting growth for digital currencies like Bitcoin and Ethereum, graphics card manufacturer Nvidia has expressed their intent to focus more on the cryptocurrency mining market.


Cryptocurrency Mining Boom

Since the beginning of 2017, the cryptocurrency market has grown at an enormous rate. In late 2016 the total market capitalization of the cryptocurrency market was a respectable $14 billion and in the months since has climbed a record-setting $135 billion as of this writing!

Bitcoin and Ethereum prices spiked to their ATH (all time high) and mining became profitable for individuals and miners rushed to purchase as many graphic cards as possible in order to profit from the surging prices of both Bitcoin and Ethereum.

The mining rush was so severe, that it even caused a national shortage of graphics cards in Russia. The graphics cards shortages made manufacturers like Nvidia and AMD realize that there is another profitable market for graphics cards, and that’s the cryptocurrency mining market.

Focusing on the Cryptocurrency Market

Nvidia graphics cards

According to a recent article in MarketWatch, Nvidia CEO Jensen Huang stated that the cryptocurrency mining market could potentially become another profitable area for Nvidia. In a recent phone call with analysts, Mr. Huang stated:

Crypto is here to stay, and the market will grow to be quite large.

He also went on to say:

It’s not likely to go away any time soon. There will be more currencies to come, they will come from different nations…We stay very close to the market, and understand the dynamics very well.

The most interesting aspect of the whole cryptocurrency mining rush is the potential development of GPUs for mining. While Nvidia officials have declined to comment on rumors that the famous graphics cards manufacturer is developing GPUs that are specifically made for cryptocurrency mining, Huang recently hinted to analysts that the company offers coin miners “a special coin-mining SKU [that is] optimized for mining.”

It’s also worth noting that thanks to the recent mining rush AMD shares have soared from the increase of graphics cards sales as well.

What are your thoughts on Nvidia’s stance on cryptocurrency mining? Do you think that AMD and Nvidia will focus more on cryptocurrency mining products? Let us know in the comments below!


Images courtesy of Pixabay, Nvidia

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Srp 10

Blockchain Ad Platform AdEx to Partner with Video Entertainment Platform Stremio

· August 10, 2017 · 1:00 pm

Blockchain-powered ad exchange AdEx will partner with video entertainment platform Stremio to deploy its solutions in the platform’s application.


AdEx to Team Up with Stremio

AdEx is an ad exchange that offers blockchain solutions for the entire online advertising industry. It seeks to entitle end users to decide which ads to see by specifying their preferences and to ensure transparency and fairness for advertisers and publishers.

Stremio, on the other hand, is a semi-open source video entertainment platform launched in 2015. It is designed to host and deliver any kind of video content within the same application. Stremio app has been downloaded by 4 million people so far.

Just like other video platforms, Stremio monetizes through third-party ads. However, most advertisement placement solutions entail non-transparency and complexities related to bidding and publishing and are widely criticized within expert communities.

AdEx diagram

About the AdEx Advertising Platform

AdEx offers a blockchainized solution that ensures automatic payouts for ads to publishers, and guarantees transparency to advertisers. The work on AdEx’s solution is still underway, but the parties have agreed to deploy it when the AdEx team completes the development.

According to AdEx CMO Vanina Ivanova:

The AdEx and Stremio teams will be working closely together on the integration of our solution in their platform once the exchange becomes fully operational. We are looking forward to implementing AdEx in a real-world environment as it will demonstrate the full range of new capabilities and advantages that the blockchain technology can offer to the online advertisement industry.

Trial by Fire

Once deployed, AdEx can work with any platform. This might prove to be the ultimate real-world test since the Stremio app already has millions of users worldwide. Due to Stremio’s huge audience base and variety of content, the platform is of interest to advertisers from multiple industries.

Nikola Hristov, Head of Adtech at Stremio, stated:

We believe that incorporating such a reliable solution for ad serving in our platform would dramatically enhance our operations and bring the technologies of monetizing to a whole new level. Partnership with AdEx could be a first step in creating the online advertisement industry of tomorrow.

The AdEx team has expressed its confidence that their solution can be smoothly integrated with Stremio, empowering advertisers to reach a multi-million person audience immediately upon integration.

[Disclaimer: This is a sponsored article.]

Can AdEx build a better online advertising model? How will it benefit both advertisers and viewers? Let us know what you think in the comments below.


Images courtesy of AdEx, AdobeStock

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Čvc 16

Mystery Ethereum Millionaire Has Regulators Fuming Over Cryptocurrency Anonymity

· July 16, 2017 · 1:00 pm

A man who can only be identified by his anonymous digital wallet address has renewed concerns that many regulators have over a new breed of cryptocurrency millionaires. How do they tax, and monitor illegal activities, of masked cryptocurrency users?


An Instagram post that sparked these concerns again read:

I get many private messages asking how much ether I have. […] One of the cool things about Ethereum is that all wallets around the world are transparent and open for everyone to see. And this is my wallet’s savings.

The figure that was visible in the post was $283 million, apparently made in less than a month with only $55 million of fiat currency. This is a 413 percent return that, while impressive, is also concerning to regulators for a few reasons.

An Environment for Criminality and Tax Evasion

As the mystery trader stated in his post, Ethereum, or indeed any digital currency wallet is totally transparent and visible to all, but it is also totally anonymous, something that is of huge concern for regulators.

Regulators would prefer an identity to be tied to digital wallets in order to enact taxation, but also to keep tabs on what the currencies are being spent, legal or otherwise.

The case of Ross Ulbricht, the man behind the nom de guerre Dread Pirate Roberts, the operator of the infamous Silk Road, remained an enigma to regulators and law enforcement while profiting through anonymous digital transactions made to his untraceable wallet.

Not All Cryptocurrency Activity Illegal

Not All Cryptocurrency Activity Illegal

It cannot be proven that this latest mystery millionaire has achieved his funds by any dubious means, especially considering that the month in which he quadrupled his money was one which saw Ethereum almost double its value going from about $220 to just touching $400.

Many regulators believe that a system of taxation on digital currencies will actually aid their stability, and ultimately, its growth.

According to draft legislation issued by the European Parliament in March:

That’s not to say that (this latest Ethereum millionaire) or any other entities are doing anything illegal. But opacity may be worsening jagged price movements. The value of ether, for example, rose from about $8 a unit at the start of the year to crest at $400 in June before settling. A lack of transparency could also be stifling the mainstreaming of online money.

The Tax Man Cometh

The Tax Man Cometh

Regulators would have many digital currency users believe that the anonymous nature of their coins of choice would stunt their ability to be taken seriously and adopted in a mass market. However, the original cryptocurrency, Bitcoin, has in its very DNA anonymity at its core and that very aspect is the reason many have flooded to cryptocurrencies in recent months.

Ironically, if regulators get their way (and it is likely that they will) and are able to pull the masks off of holders of digital currencies, they could wind up damaging the very assets that they are trying to tax. A break in anonymity for Ethereum users, for instance, would drive them towards cryptocurrencies that have better privacy, such as Zcash and Monero.

Escaping Digital Currencies' Dark Past

Escaping Digital Currencies’ Dark Past

While Bitcoin and several other coins that sprung up in its wake have mostly broken the shackles of their dark past, their links to the Dark Web and other nefarious activities are resulting in their being implicated in illegal acts even today.

Recent ransomware attacks on institutions as big as the National Health Service in the United Kingdom have seen demands for payment to be made in Bitcoin to the hacker for the release of sensitive information. It is the secret nature of these accounts, untraceable and anonymous, that is allowing hackers thrive on such a huge scale.

Would taxation on your digital coins drive you away from using them? Do you think governments and regulators need to stop the illegal use of digital currencies? Let us know in the comments below!


Images courtesy of Shutterstock, Wikimedia Commons

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Čvc 05

Dartz Debuts New Black Alligator SUV, Only Accepts Bitcoin and Ethereum

· July 5, 2017 · 3:00 pm

Latvian automotive company Dartz announced that they plan to debut their new Black Alligator SUV at the 2017 Gumball 3000 rally in Riga, Latvia and that they will only be accepting Bitcoin or Ethereum as payment.


The company’s move to sell the luxury SUV for Bitcoin and Ethereum seems to be a first for cryptocurrency, which has previously been accepted in the luxury market more in regards to property than the automotive industry. Hopefully, the acceptance of Bitcoin for the vehicle will prove to be more than just a sales gimmick, as there is a real demand among Bitcoin adopters for items they can spend their investment rewards on without first converting to fiat currency. Whether or not this is a vehicle that Bitcoin owners will want remains to be seen.

A Vehicle as Distinctive as its Name

Distinctive. Aggressive.  Tough. These are all apt descriptions of the new Black Alligator. Sporting the angular armor of the Dark Knight-era Batmobile, the Black Alligator will be introduced during the 2017 Gumball 3000 rally in Riga, Latvia. Dartz, in keeping their military theme, says that the names of their vehicles are based on Russian Helicopters nicknames.

The military comparisons don’t stop there, however, as the vehicle features a Kevlar and carbon fiber body which can be upgraded, for the security conscious, to Kevlar-coated titanium. This bulletproof nature is colorfully emphasized on the company website:

Bulletproof opulence trusted by billionaires, Tzars, superstars, generals and dictators since 1869

But How Much Does it Cost?

While Dartz has not revealed the price of the Black Alligator, they have gone on record as saying that it will make Bugatti drivers “feel like a beggar“. The fact that nearly every aspect of the vehicle’s design – from body panels to interior trip –  is tailored to each individual customer no doubt accounts for the lack of a publicized price. In fact, the vehicles are so customized that Dartz has implemented a new Department of Opulence to help you really pimp your ride.

According to a report by Motorauthority:

If you have to know the price, Dartz says it’s somewhere in the seven figures, and the company will happily accept cryptocurrencies such as Bitcoin or Etherium as payment. The company doesn’t like to reveal pricing out of courtesy of not making owners of other high-end vehicles feel envious.

What do you think of the Black Alligator? Have you ever purchase a vehicle or other luxury item using Bitcoin? Let us know in the comments below.


Images courtesy of Dartz

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Čvn 30

SkinCoin: a Blockchain Solution for the Video Game Skin Trade Economy

· June 30, 2017 · 2:00 pm

The new blockchain project SkinCoin aims to fix the problems plaguing the booming market of video game skin betting and trade.


The skins market is somewhat of a novelty concept even to many veteran online gamers. It has existed as a fairly marginal industry ever since video game skins first became available but when Steam’s skin market economy spilled into secondary platforms several years ago – and generating insane profits in the process – the industry grew exponentially.

For those who may not know, skins are modified textures of in-game objects. Users can buy, sell and trade skins and prices are primarily dependent on the skin’s  rarity. They don’t actually increase a player’s chances of winning but rather make his character look more distinct and visually appealing. For professional streamers and tournament players, vast skin collections are a very important asset that helps them shape unique and identifiable personalities.

Some rare skins used by pro players are in such high demand that they can be sold for thousands of dollars in online marketplaces.

Revolutionizing Video Game Skin Trading

Steam policies restrict how much real money you can pay for a game asset. It is for that very reason that third party skin trading platforms emerged in the first place. While many of these platforms are legitimate, the popularity and profitability of skin trading have given rise to scam sites as well. An unfortunate side effect of these scam sites is that their fraudulent activities are being blamed on Steam since Valve profits from every skin purchase even if it was arranged by a third party. 

According to a report by Bloomberg, skins market in 2016 was valued at close to $7.4 billion USD and that number only seems to be increasing. Even in the face of Valve’s half-hearted attempts to crack down on third-party trading platforms, the market is expected to grow as high as $22.6 billion USD by 2020.

SkinCoin projects

The demand for video game skins is very real, as is the need for a free and safe marketplace to meet players’ growing skin trading needs. SkinCoin aims to fill that need by providing gamers with bulletproof blockchain-grade security solutions and transparency, as well as a free and decentralized p2p skin trading platform.

According to Igor Solomatin, CEO of SkinCoin:

We plan to solve the issues of skin trade on all video game sites. SkinCoin will provide security to players’ in-game assets and protect skin trade platforms from Valve’s claims. Unlike fiat money, SkinCoin is not a means of payment according to legal definition in most countries. Third party sites will be able to process trade transactions with the help of SkinCoin and still perfectly conform to Steam policies.

SkinCoin is another example of how blockchain technology is providing solutions to emerging markets materializing out of previously untapped digital economies. Specifically, its architecture is ideal for loosely regulated, speculative virtual markets which have to remain free and decentralized but also safe and transparent for all participants.

SkinCoin ICO

In order to realize their goal of creating a free, decentralized marketplace for the exchange of skins for cryptocurrency, SkinCoin has launched its ICO to raise the necessary funds. The token sale began on June 21, 2017, and will run for exactly one month, ending on July 21, 2017. Their ultimate goal is to raise 100,000 ETH, with a minimum goal of 5,000 ETH. All funds derived from the ICO will be allocated as follows:

  • 60% to marketing
  • 20% to development
  • 20% to future scaling

SkinCoin’s whitepaper further breaks down their marketing funds allocation as shown below:

SkinCoin marketing budget

For more information about SkinCoin’s projects, you can visit their official website, SkinCoin.org. Details about their ongoing ICO can be found here.

Are you a gamer who buys, sells, and trades skins? Do you think the SkinCoin project will solve the issues plaguing the skin trade market? Let us know in the comments below.


Images courtesy of SkinCoin

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Čvn 27

Decentralized Ad Platform Developer AdEx Announces Token Sale

· June 27, 2017 · 2:30 pm

In an official blog post published today, decentralized ad exchange platform AdEx has announced that it will be holding a token sale, which is scheduled to begin June 30th, 2017. The project seeks to raise 40 000 ETH over the course of the crowdsale.


About the AdEx Project

Current advertising networks like Google AdSense, Adsterra, ShareASale, and others are fraught with problems, not the least of which are ad fraud and lack of consumer privacy.

AdEx aims to change all of that by developing a decentralized blockchain-based ad exchange that will benefit all parties – advertisers, publishers, and consumers – while bringing data security, fraud protection, clear and accurate reporting, and numerous other advantages of blockchain technology to the online ad market.

Co-founder and CEO of AdEx Ivo Georgiev explains:

Co-founder and CEO of AdEx Ivo Georgiev

The solution offered by AdEx seeks to benefit all parties involved in the online advertising ecosystem, which means end users as well as advertisers and publishers, while removing unnecessary and downright risky elements currently associated with centralized infrastructure.

Once launched, the AdEx Network will enable transparency for advertisers, better ad serving control for publishers, and more control over privacy and ad preferences for consumers.

The Technology Behind the AdEx Platform

Developed on the Ethereum blockchain, one of the core strengths of the AdEx platform will be its use of smart contracts. A smart contract is a piece of software, executed on the Ethereum blockchain, that contains all of the terms, rules, and regulations for negotiating the terms of a contract. It automatically verifies the contract and then executes the agreed upon terms.

In the case of AdEx, these smart contracts will ensure the removal of third party intermediaries and ensure complete transparency of the entire system, from ad selection and tracking to bidding and payment.  The complexities of choosing and tracking ads and facilitating bidding and payment will be defined in these smart contracts, simplifying and securing the entire process.

AdEx diagram

To mitigate the high costs associated with storage on the blockchain, AdEx will be utilizing IPFS (InterPlanetary File System) to host advertising related media such as images, videos, and larger data. Developed in 2014 by Protocol Labs, IPFS is described as a peer-to-peer hypermedia distribution protocol that allows for fast, secure storage and retrieval of data.

The AdEx team is also working on prototypes that incorporate several second layer solutions that will operate on top of Ethereum. These solutions will enable advertisers and publishers to easily interact while avoiding any potential blockchain limitations regarding speed and transaction fees. AdEx plans to implement IOTA as a future second layer to further improve the platform’s scalability.

Because AdEx is designed to be compatible with most of the existing ad tech industry, the process of adoption and integration by publishers and advertisers is easy. AdEx can be used in websites, mobile and desktop applications, and even embedded devices.

ADX Tokens and the Token Sale

The crowdsale, which begins on June 30, 2017, and runs through July 30, 2017, will fund the initial development and adoption of the AdEx advertising network. AdEx tokens (ADX) will use ERC20, a standard protocol for smart contract systems powered by native tokens. This will ensure the platform’s compatibility with other Ethereum-powered solutions.

AdEx token crowdsale

In order to estimate and optimize the perfect supply of native tokens for the token sale, AdEx has partnered with WINGS Foundation, the developer of WINGS DAO. The project also engages the social graph of the WINGS DAO crypto-experts to maximize potential project backers who can serve as product champions and evangelists, allowing AdEx to quickly go to market.

The terms of the ADX token sale are as follows:

  • Crowdsale duration: 1 month
  • Start date: June 30, 2017
  • End date: July 30, 2017
  • Total number of ADX tokens: 100,000,000
  • Number of ADX tokens available for sale: 80,000,000
  • Currencies accepted: ETH
  • Token price: 1 ETH = 900 ADX
  • Campaign cap: 40,000 ETH

Over the course of the token crowdsale, 80% of all ADX tokens will be available for distribution among the supporters. Of the remaining twenty percent, 16% will be reserved for developers and advisors, which will be vested for a year to ensure the smooth development of the platform. The remaining 4% will be distributed between WINGS DAO community and the bounty campaign participants, as shown in the picture below.

AdEx 20% distribution breakdown

During the campaign, only ETH transactions will be accepted. The address for contributions will be published at tokens.adex.network once the token sale has begun.

Future Plans

The first AdEx advertising platform prototype is scheduled for release as early as February 2018. It will include basic core features such as an ad bidding system, a front-end for advertisers publishers, and an SDK for publishers. The prototype will primarily focus on native and display advertising.

To ensure transparency, the prototype will undergo a stringent audit by an independent third party prior to release and its code will be completely open-source.

In the year following the successful release of its prototype, AdEx will focus heavily on business development as determined by both market needs and community feedback. During this time, AdEx plans to roll out major improvements to the platform, including user targeting and reporting, full integration of SDK, and video advertising.

By January 2019, AdEx plans to release AdEx v.2, which seeks to accommodate the needs of the increasing number of publishers and advertisers using the platform. The v.2 solution will essentially be a complete technological revamp, scaling the entire solution upward and possibly extending to other blockchains such as Aeternity or RSK.

Do you think the AdEx advertising platform will adequately address the shortcomings and failures of the current online advertising industry? What do you think is the most exciting aspect of this project? Let us know in the comments below.


Images courtesy of AdEx, AdobeStock

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Čvn 24

iDice ICO Raises $2.4M in First 2 Weeks

· June 24, 2017 · 10:00 am

iDice, the company behind the world’s first, has raised 7400 ETH ($2.4 million USD) in a span of less than 2 weeks, becoming the most successful gaming ICO in Ethereum history. The iDice ICO is currently live with only 2 more days left in the crowdsale. Holders of iDice tokens will be entitled to a portion of iDice’s total profits.

[Note: This is a press release.]


Jordan Wong, Founder and CEO of iDice commented:

People can see the potential of iDice in the future. We’re bringing Ethereum Gaming to mobile devices across the world, something that nobody has ever done before. It’s obvious that mobile betting is going to be big, and we’re going to dominate this market.

The iDice team has released a developer update of their upcoming mobile app, scheduled to launch late Q3 of this year. iDice token holders will have the right to claim a portion of the total profits from both desktop and mobile platforms. This includes any profits from future games such as poker, roulette, slots, and blackjack.

iDice mobile gaming app

iDice has become the fastest growing gambling platform to date. The iDice beta has gotten over 2000 bets and paid out over 1600 ETH ($500k USD) – all within its first 3 months. Ethereum Gambling experts have predicted that iDice will beat its competitors vDice, Etheroll, and Edgeless Casino in the mobile gambling segment.

iDice seems to have the odds in its favor. The global online gambling industry is currently worth $47 Billion USD, with mobile traffic rapidly on the rise. Ethereum, which iDice uses, is also growing at a great pace, meaning that it will take an increasingly bigger part of the mobile online gambling industry; Ether is already popular among players. These two factors combine make iDice the king of a huge kingdom, whose vast territory and borders have not been fully explored yet.

To join the iDice ICO, sign up at their crowdsale page: https://crowdsale.idice.io. The ICO ends this week on June 26, UTC 0:00, so time is quickly running out. The iDice team has already made contact with exchanges, and the project is likely to see even more popularity after they’re listed. Similar projects in the past such as vDice have seen their tokens shoot up 30x in value this year. Investors believe that iDice will likely be no different.

[Disclaimer: Bitcoinist accepts money to publish press releases in the dedicated PR section. However, we do not endorse and cannot guarantee any claims contained in these press releases. We advise our readers to always do their due diligence before sending any money to companies and services, particularly those who guarantee profits. Remember, if it sounds too good to be true, it probably is.]


Images courtesy of iDice, Shutterstock

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Čvn 05

Kibo Lotto Launched in Ethereum Test Network

· June 5, 2017 · 9:19 am

In September 2016, Kibo team published the Whitepaper describing an idea of creation of the first decentralized lotto platform, which is uniform for the whole world and is based on Ethereum smart contracts.


The main task of the team is to eliminate all existing drawbacks of this market for both players and affiliate partners via which gaming industry gets 80% of all its users today.

The very idea is really interesting. Since smart contracts can SECURE not only the transparency of all transactions conducted on the platform, but also ENSURE 100% fair drawings. Today it is fairness of drawings which serves a main advantage at the market with a volume of more than 500 bln dollars.

One of the most important problems for affiliate partners of any game resource is change in the conditions of accrual of commission fee for players attracted after the work is done, or even their cutoff for breach of any rules of cooperation.

Kibo smart contracts are initially programmed so that each owner of Kibo Lotto branch always remains an owner of the audience attracted by it to the platform and keeps getting its commission fee for every ticket sold in spite of everything.

In fact, KIBO enables launching one’s own lotto with unique advantages for every player, terms and profits of which are guaranteed by a smart contract. Obviously, it is a cherished dream of any affiliate partner.

Needless to say about advantages for a user: availability in any part of the world, absolute transparency and fairness of the game, and instant payments of any sums.

The question is not how essential these advantages are, but how to engage a big number of users to the platform.

This part of the project is of special interest. In October 2016, Kibo team held ICO within the frames of which, in spite of DoS-attack on Ethereum network, more than 3.5 mln dollars were attracted and more than 6,000 people from more than 50 countries of the world became owners of the platforms.

One of the main tasks of the ICO was to attract funds necessary for the implementation of a unique marketing strategy aimed at quick launching of KIBO at the international stage. Today these funds are in the open wallet and, due to the growth of ETH rate, funds collected already amount to 20 mln dollars. This money is necessary to form a prize fund and promotion unprecedented in its size even among the biggest international lotteries. The goal of the promotion is to quickly attract and familiarize millions of users with the advantages of the platform. Since today KIBO branches have partners from more than 50 countries of the world, its start is going to be very interesting.

Kibo is a platform for playing lotto in formats of the most popular national lotteries, including instant and daily drawings, interface of which will be available in 14 languages.

On May 12, the team’s blog [https://medium.com/@kiboproject] published a news that the platform has been launched in Ropsten test network and now it is at the test level in which more than 500 platform owners participate.

The whole development of the platform is organized in a closed regime, but, according to the team’s words, in the nearest future they will publish the result of the audit of platform contract code. You can see how the test is running at the address: [https://kibolotto.bet/] The page shows operations with tickets bought in a test network.

As the team say, the platform will not be launched in an open regime until a problem with Ethereum network scaling is settled, since the existing restrictions prevent from accepting all the users. But, possibly, this summer Kibo will be opened for 5,000 users who are already waiting for the platform launching.

We will keep following the events.


Images courtesy of Kibo

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Kvě 29

China’s Biggest Exchanges to Add Ethereum, Other Altcoins as Demand Surges

· May 29, 2017 · 7:00 am

As altcoins continue to gain popularity throughout the world, Bitcoin exchanges in China are also getting in on the action and listing alternative cryptocurrencies.


Huobi to Support Altcoins

As the moratorium on cryptocurrency withdrawals is expected to soon end in China, exchanges in the country seem to be turning their attention to alternative cryptocurrencies. Two days ago, one of the big three exchanges in China, Huobi, announced it will launch Ethereum trading on May 31.

The announcement reads:

We are excited to announce the CNY/ETH will be listed on our exchanges. Trading will start at 12:00 May 31st (GMT +8). ETH deposit and withdrawal is available from now on.

Today, Huobi released a list of altcoins that are to be added in the future according to the rank of the coin in said list. According to Huboi’s underlying model, Ethereum, Litecoin and Ripple are the highest ranking coins following Bitcoin, followed by Dash, Zcash and Dogecoin.

Online news service cnLedger tweeted:

The list was ranked using a model created by Huobi which factors in the coin’s strategy, marketing, activity, risk and technology to calculate the relevance of the coin.

The list and underlying model can be seen in Huobi’s official announcement.

BTCC to Get In On the Action as Well

Huobi isn’t the only Bitcoin exchange in China that is to list alternative cryptocurrencies.

After a two-week poll, in which over 190k votes by the cryptocurrency community were counted, Ethereum Classic will be listed in the BTCC exchange. Bobby Lee, CEO of BTCC tweeted:

Although the exchanges employed a completely different method in which Huobi used a model to rank cryptocurrencies and BTCC used a community poll, both exchanges are interested in opening the doors for the Chinese community to invest in  alternative cryptocurrencies.

Huobi and BTCC, however, are not the first exchanges in the country to list alternative cryptocurrencies. The China-based Yunbi exchange allows users to buy and sell cryptocurrencies like Etherem, Ethereum Classic, Zcash, QTUM, Bitshares, and others. BTC38 also offers a multitude of cryptocurrencies to be bought and sold for CNY. Lastly, CHBTC also lists Ethereum, Ethereum Classic, and Litecoin.

Crypto in Asia

Although less-known exchanges in the country offer altcoin trading, most Chinese users are only familiar with Bitcoin and Litecoin, given that most cryptocurrency investors use one of the big three exchanges in the country, BTCC, OKCoin and Huobi.

China plays a big part in the Bitcoin world, ranking in the top 3 countries by daily trading volume but other countries in the continent are becoming increasingly interested in cryptocurrencies and it’s not just Bitcoin and Litecoin.

Take Japan, for example, where the recent Bitcoin law has created an accentuated demand for cryptocurrencies, making the JPY the biggest Bitcoin pair in the world by trading volume and that’s not all. Other cryptocurrencies are also gaining traction in the country.

Co-Founder of IndieSquare and Community Director at the Counterparty Foundation, stated in a recent blog post:

First, one of the unique characteristics of the Japanese crypto space is that altcoins are very popular as a means of investment and some of them have very strong and dedicated communities; some even more active than the Bitcoin community itself in a way. Among them, two of the most popular altcoins in Japan are XRP(Ripple) and XEM(NEM).

In South Korea, Ethereum and Ethereum Classic are also extremely popular, even more so than Bitcoin whose daily trading volume is smaller than that of ETH or ETC.

With China adhering to the altcoin craze, could Asia become the capital for alternative cryptocurrencies?


Images courtesy of Shutterstock.com, Twitter 

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