Analysis: KyberNetwork

KyberNetwork

Trustless. Instant. Liquid. Compatible.

1. What is it?

KyberNetwork is a new system which allows the exchange and conversion of digital assets.
They provide rich payment APIs and a new contract wallet that allow anyone to seamlessly receive payments from any token.
Users can also mitigate the risks of price fluctuations in the cryptocurrency world with our derivative trading.

(Source: https://kyber.network)

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2. FIT Test (F: Future updates; I: Innovation; T: Trends): FIT Test enables us to check the uniqueness, alignment with respect to the current trends and future update of the fundamentals of the corresponding cryptocurrency.

A) Innovations:

i) Trustless and Secure: KyberNetwork does not hold tokens owned by the users, all the transactions are executed via smart contracts, making KyberNetwork a trustless and hence, a secure exchange.

ii) Instant Trading: Exchange or convert requests are immediately executed. There’s no waiting time or confirmation time for a transaction. When a user deposits token ‘A’ to perform an exchange to receive token ‘B’, he receives token ‘B’ immediately. This is a great feature as it protects users against market volatility.

iii) On-Chain Exchange: This exchange runs on-chain, which means, it supports normal user accounts as well as smart contracts. This enables smart contracts to communicate with the exchange directly, without any third parties, to fulfill their transactions.

iv) Liquidity: Reserve Contributors provide liquidity which enables the exchange to perform instant trading.

B) Trends: Trustless Exchange, Instant Trading.

C) Future updates: 

i) KyberNetwork has announced 3 major partnership is last 2 weeks -Gifto, powered by Uplive, an innovative gifting protocol that allows content consumers to interact with and reward content creators directly; Aditus, a luxury access platform that bridges luxury merchants and crypto-affluents using blockchain and a research collaboration with Blockchain at Berkeley, a world-class academic institution to enhance the exchange implementation and business model.

ii) First Mainnet launch is expected during Q1, 2018. This will support trading between ETH and other tokens. Followed by this, Q2,2018 will observe arbitrary pair trading over the exchange.

iii) KyberNetwork during Q3, 2018 is expected to support trading of advanced financial instruments over the exchange.

iv) They also expect to perform cross-chain trading in early 2019.

 


3. Community:

Total funding raised: USD $60 million

B. Team: 

  1. Loi Luu, CEO & CoFounder
  2. Yaron Velner, CTO & CoFounder
  3. Victor Tran, Lead Engineer & CoFounder
  4. Joseph Lee, Lead Trading Platform
  5. Spyros Vrettos, Trading Analyst / Developer
  6. Lee Tsun Ngai, Head Of Business Development
  7. Phuong Vu, Designer
  8. Andrew Nguyen, Developer
  9. Gia Nguyen, Designer / Developer
  10. Tuan Nguyen, Developer
  11. Huy Tran, Developer
  12. Duc Tran, Developer
  13. Ilan Doron, Developer

C. Advisors:

  1. Wong Lee Hong
  2. Leng Hoe Lon
  3. Chionh Chye Kit
  4. Kenneth Oh
  5. Vitalik Buterin*
  6. Prateek Saxena
  7. Pandia Jiang

4. Unique Features:

  • Liquidity
  • Instant Trading
  • Advanced financial instruments to hedge market risks

5. Downside / Risks:

  • The team could have had a few dedicated marketing professionals.

6: Future: We already have several exchanges but KyberNetwork stands out. Instant trading and hedging market risks are the game changers in this volatile cryptocurrency market.

7: Technical Analysis: 

The prices have dipped after a quick surge. This is a perfect entry point for the investors who have a long-term return goal in their strategy. KyberNetwork’s business model is unique, they have a strong team to back their vision. There’s a good panel of advisors as well. Vitalik, the ethereum elite, sits on the panel. All in all, this is a must-have in a long-term portfolio.

  • Market Cap: $199,997,216 
  • Price: $1.49
  • OTE: 0.00008397-0.00008773 BTC
  • Volume(24h): $19,499,500
  • Circulating Supply:134,132,697/215,625,349

8: Comments:

KyberNetwork’s ICO was a successful one, More than 21,000 people have contributed to it. They show potential and ability to fulfill the claims they make in terms of milestones they have planned. In spite of the presence of many exchanges in the market, KyberNetwork would fare well because of factors like instant trading, liquidity and risk hedging. The venture looks profitable over a long run.

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Weekly Technical Analysis 26.08.2017

www.tradescrypt.com’s Weekly Technical Analysis gives investors important insights on fundamentally strong cryptocurrencies which include Bitcoin, Ethereum, Litecoin, Ripple and AntShares(NEO).  It’s a quick read for investors at the start of the week which presents necessary statistics which could prove vital for considering investment position and making decisions during the week.

1.Bitcoin:

BTC-analysis-26.08.17.png

In spite of the seller resistance, Bitcoin has managed to stay above the USD $4000 mark which seems as the newly established floor. Investors have got in on 23rd and 24th when the prices were just above USD $4000. Bitcoin is currently trading at USD $4300. Investors who want to get in must wait for a short dip which we expect to occur in a few days.

Following are the statistical conclusions drawn from this week’s technical analysis:

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Note: Prices have changed significantly. Once the new floor is set, we can calculate the OTE and the risk/reward ratio.

  • Market Cap: USD $71,638,083,124
  • Circulating Supply: 16,527,225
  • Volume(24h): USD $1,503,230,000

2. Ethereum:

ETH-Analysis-26.08.png

Ethereum is gradually recovering its position which was lost during the Bitcoin fork period. It is trading at USD$330. Investors have entered on 24th and 25th when it was trading at around USD$320. We recommend this price as the OTE for the week which would ensure a good Risk/Reward ratio.

Following are the statistical conclusions drawn from this week’s technical analysis:

  • Market Cap: USD $31,766,976,757
  • Circulating Supply: 94,270,460
  • Volume(24h): USD $551,820,000

3. Litecoin:

LTC-analysis-26.08.17

Litecoin has crossed USD $50 mark. Investors who still want to get in must wait for a dip and get in at the blue buying region which would increase the Risk/Reward ratio significantly. Refer to our Litecoin fundamental analysis to understand the potential of the coin.

Following are the statistical conclusions drawn from this week’s technical analysis:

  • Optimal Trade Entry (OTE): Around 0.00004650 BTC
  • Market Cap: USD $2,893,886,049
  • Circulating Supply: 52,646,932
  • Volume(24h): USD $325,010,000
  • Risk/Reward Ratio: 0.64

4. Ripple:

XRP-analysis-26.08.png

Ripple was trading at USD $0.16 which was a stable floor since the past few days. With the current price at USD$0.20, Ripple has displayed a growth of 25% even after the correction. With strong fundamentals and growing community, invest and hold is our recommended position. Risk/Reward Ratio for this would be significantly higher than our recommended threshold.

Following are the statistical conclusions drawn from this week’s technical analysis:

  • Optimal Trade Entry (OTE): Around 0.00004650 BTC
  • Market Cap: USD $7,866,239,162
  • Circulating Supply: 38,343,841,883
  • Volume(24h): USD $177,526,000

5. NEO:

NEO-analysis-26.08

NEO has set a new floor of USD $35. We have observed a correction after NEO soared to USD$50. Risk/Reward Ratio at this point are greater than our recommended threshold. With strong fundamentals and growing community, invest and hold is our recommended position.

Following are the statistical conclusions drawn from this week’s technical analysis:

  • Optimal Trade Entry(OTE): Around 0.00867554 BTC
  • Market Cap: USD $1,901,680,000
  • Circulating Supply: 50,000,000
  • Volume(24h): USD $41,663,900

Information sources-

www.coinigy.com
www.coinmarketcap.com

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Analysis: OmiseGO

OmiseGO

Unbank the Banked with Ethereum.

1. What is it?

OmiseGO is a public Ethereum-based financial technology for use in mainstream digital wallets, that enables real-time, peer-to-peer value exchange and payment services agnostically across jurisdictions and organizational silos, and across both fiat money and decentralized currencies. Designed to enable financial inclusion and disrupt existing institutions, access will be made available to everyone via the OmiseGO network and digital wallet framework, starting in Q4 2017. (Source:https://omg.omise.co/)

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2. FIT Test (F: Future updates; I: Innovation; T: Trends): FIT Test enables us to check the uniqueness, alignment with respect to the current trends and future update of the fundamentals of the corresponding cryptocurrency.

A) Innovations:  OmiseGO uses their own blockchain which is based on Ethereum to provide remittance services to the people without the involvement of any bank. These services operate across currencies and asset types. The OmiseGO blockchain has a decentralized exchange, liquidity provider mechanism, clearinghouse messaging network, and asset-backed blockchain gateway. The OmiseGO blockchain network is highly performant and scalable. The cost of securing the transaction value is externalized to other chains in a way which directly promotes the value of those chains.

B) Trends: Payments, Remittances, Digital decentralized banking

C) Future updates: 

i) OmiseGO recently announced that every Ethereum holder holding a minimum amount of 0.1ETH will receive an amount of OmiseGO tokens which are proportionate to their Ethereum holdings. 5% of the total OmiseGo tokens are set aside for this generous distribution move.

ii) OmiseGO has acquired Paysbuy, a major payment service provider in Thailand. OmiseGO’s CEO Jun reveals that McDonald’s in Thailand, with their presence in over 240 locations will start accepting OmiseGO as a method of payment. He is confident that this can be implemented by Mcdonald’s across Asia.

 

 

OmiseGO logo


3. Community:

Forbes featured OmiseGO as a Fintech rockstar. OmiseGO has a great community around them contributing directly or indirectly.

A. Investors:

  1. SBI Investments
  2. SMBC
  3. Ascend Capital
  4. SMDV
  5. Golden Gate Ventures
  6. East Ventures
  7. 500 Startups

Total funding raised: USD $150 million+

B. Team: 

  1. Jun Hasegawa: Founder/CEO at Omise, Director at Alpha-do INC., Co-founder/CEO at LIFEmee INC.
  2. Donnie Harinsut: COO/Co-founder at Omise, International Trading manager at Alpha-do INC.
  3. Wendall Davis: Product development lead at Omise, member of Original Ethereum founding team
  4. Thomas Greco: Special advisor at Omise.
  5. Vansa Chatikavanij: Managing Director at Omise.

C. Advisors:

  1. Joseph Poon: Lightening network co-author.
  2. Vitalik Buterin: Founder of Ethereum.
  3. Dr. Gavin Wood: Co-founder of Ethereum, founder of Parity and Polkadot.
  4. Jae Kwon: Creator of Tendermind and Cosmos network.
  5. Vlad Zamfir: Kasper(Ethereum) Research lead.
  6. Martin Becze: Ethereum web assembly creator
  7. Julian Zawistowski: Founder of Golem
  8. Prof. David Lee Kuo Chuen: Professor of Quantitative Finance, Singapore University of Social Sciences
  9. Pandia Jiang: Founder of LinkTime
  10. Roger Ver: CEO of bitcoin.com, First Major Backer of Earliest Crypto Startups

 

4. Unique Features:

  • NEO applications can be developed using all major programming.
  • Tie ups with influential people in China.
  • A collaboration of digital asset management with real world asset.

5. Downside / Risks:

  • Replicable
  • Not available on Poloniex. Use Bittrex. (Not a downside for most of the people since they have already moved their assets to Bittrex recently.)

6: Future: Considering the community and innovations, it may be seen as a good competitor against Ethereum for the 2nd place in Total Market cap after Bitcoin in China.

7: Technical Analysis: 

 

Analysis OMG Coinigy

 

The prices have dipped to a point where buying OmiseGO would seem a good choice for OmiseGO believers. This is a perfect entry point for those investors who have a long term return goal in their strategy. The community behind this is pretty solid which promotes this token’s potential to grow across Asia.

  • Market Cap: $633,129,435
  • Price: $6.44
  • OTE: 0.00141725-0.00150593 BTC
  • Volume(24h): $106,064,000
  • Circulating Supply: 98,312,024

8: Comments:

Omise aims to capture the remittance market in Asia via its decentralized banking applications and so far it has done everything right to grow. One could say it is an undervalued token. The people backing this project are influential in the cryptocurrency world. This is one of the strongest selling points for OmiseGo. Long term investors can use this token for their portfolio diversification and observe growth in the future.

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Analysis: NEO

NEO

A distributed network of intelligent economy

1. What is it?

China’s first ever original and open source public chain project, NEO serves as a smart asset platform. Smart assets are the combination of smart contract of blockchain and digital assets.

NEO allows for a smarter way for assets registration, issuance, and circulation. Digital assets exist in the form of electronic data and with blockchain technology, digital assets become decentralized, trustless, traceable and highly transparent. NEO’s underlying technology supports multiple types of digital assets and uses a digital certificate to enable trust for public chain, namely the assets issued by users via digital certificate are protected by law. On the other hand, for more complicated scenarios, users can use smart contract to enhance and enrich the functions of assets. Besides, users can also create smart contracts with other functions unrelated to assets. Smart contract, a concept that was first initiated by Nick Sazbo in 1994, has a history as long as that of the Internet. According to Nick Szabo, Smart contract can execute contract clauses when the preprogramed conditions are met. It is blockchain technology, due to its decentralization, immutability and highly reliable system that provides the very environment for smart contract to embody its value. (Source:https://neo.org/)

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2. FIT Test (F: Future updates; I: Innovation; T: Trends): FIT Test enables us to check the uniqueness, alignment with respect to the current trends and future update of the fundamentals of the corresponding cryptocurrency.

A) Innovations: One big contrast of these competing platforms is their programming languages. Ethereum requires developers to learn to program with Solidity. Neo, on the other hand, will support almost all programming languages via a compiler, including those on Microsoft.net, Java, Kotlin, Go and Python, greatly lowering the difficulty for developers to write smart contracts.

B) Trends: Digital Asset Management, Management of real world assets.

C) Future updates: 

i) Innospace CEO announced $29.3M USD incubation fund, a collaboration between his company and the NEO blockchain team. Plans for the fund include the establishment of a new blockchain space in Shanghai, combining working spaces, startup incubation and acceleration.

ii) Partnered with Agrello to develop smart contracts for automation, self execution, accuracy and transparency. Powered by AI, Agrello will be a platform for nonW programmers to create their own legally binding blockchain based smart contracts. Use cases for Agrello’s tech include renting and sharing, freelance contracting, orchestrating production flows, and reducing administration costs for multinational corporations.

iii) With offices in Israel and Shanghai, Coindash will be a social trading platform for crypto assets, offering portfolio management tools for digital asset investors. Features of the platform will include portfolio statistics and management tools, investment automation, an ICO dashboard, and insights into other traders’ successful investing strategies. In the upcoming development of Nest Fund, a blockchain based smart fund by the developers of NEO, Coindash will offer advisory and prediction tools for Nest’s modern investors.

iv) The former CTO of OkCoin, Mr. Zhao Chang Peng is starting his own digital asset exchange, hoping to compete with platforms like Poloniex. Calling his new platform Binance, this new exchange will only deal in coin to coin transactions, avoiding fiat pairs and therefore avoiding Chinese regulations. In order to maintain a standard in mature digital assets, Binance will only list coins that meet its strict criteria. With a launch planned for later this year, the platform’s first traded assets will be bitcoin, ether and NEO.

NEO Coinigy
3. Community:

At a gathering of 200 people at Microsoft HQ, Beijing declared a complete rebranding of the company. ANS became NEO. Following people took the dais as speakers:

  1. Da Hongfei, founder of NEO.
  2. Erik Zhang, Core Developer of NEO.
  3. Tony Tao, CEO of NEO and Founder of Nest Fund (Investment Fund).
  4. Srikanth Raju, Microsoft’s G.M of Developer Experience and Evangelism for the Greater China Region.
  5. Mr. Han Feng, Tsinghua University IWCenter.
  6. Chen Cheng Qiang, founder and CEO of Innospace.
  7. Alex Norta, founder of Agrello.
  8. Adam Efrima, COO of Coindash.
  9. Zhao Chang Peng, CEO of Binance.

4. Unique Features:

  • NEO applications can be developed using all major programming.
  • Tie ups with influential people in China.
  • A collaboration of digital asset management with real world asset.

5. Downside / Risks:

  • Replicable
  • Not available on Poloniex. Use Bittrex. (Not a downside for most of the people since they have already moved their assets to Bittrex recently.)

6: Future: Considering the community and innovations, it may be seen as a good competitor against Ethereum for the 2nd place in Total Market cap after Bitcoin in China.

7: Technical Analysis: 

NEO analysis Coinigy

Since the past few days, we have observed a significant price hike in NEO. Prices have soared from USD $7 to USD$10. The floor seems to have risen. Investors with a long term market strategy can still get in when the price corrects itself by about 60% and hits the blue region which is the Optimal Trade Entry (OTE) region. The strong community support in China makes NEO’s potential growth more prominent in the future.

  • Market Cap: $546,390,000
  • Price: $10.93
  • OTE: 0.00322591-0.00331973 BTC
  • Volume(24h): $46,520,400
  • Circulating Supply: 50,000,000

8: Comments:

NEO rebranding led to increased prices. USD $10 seems to be the new floor for NEO. Early investors, who had invested in AntShares weeks ago when we had rolled out our analysis, have started realizing portfolio growth at the moment. Investors who want to start today by investing in NEO will have to buy and hold for quite some time to see growth in their portfolio.

Stay tuned for our next article which will emphasize on NEO’s GAS.

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Weekly Technical Analysis (31.07.2017)

www.tradescrypt.com’s Weekly Technical Analysis gives investors important insights on fundamentally strong cryptocurrencies which includes Bitcoin, Ethereum, Litecoin, Ripple and AntShares(NEO).  It’s a quick read for investors at the start of the week which presents necessary statistics which could prove vital for considering investment position and making decisions during the week.

1.Bitcoin:BTC Coiningy 31.07.2017

1st August is approaching and we have witnessed BIP 91 Lock-in. The prices soared beyond USD $2800. This was followed by a correction of about 50%. Bitcoin is now trending in the range of USD $2700. Following are the statistical conclusions drawn from this week’s technical analysis:
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  • Risk/Reward Ratio: 0.23 (Ideal ratio tends to 2)
  • Optimal Trade Entry(OTE): USD $2555-$2670
  • Market Cap: USD $45,317,854,582
  • Circulating Supply: 16,479,100
  • Volume(24h): USD $705,815,000

2. Ethereum:ETH Coinigy 31.07.2017

 

Ethereum fell from 0.8064551 BTC to 0.06839837. However, in the last few hours, the price has soared a bit. Risk/reward ratio has improved yet far from a desirable ratio as compared to last week’s ratio. Ethereum ranges at around 0.0707 BTC and red candle sticks indicate a fall which could result in a correction that has already crossed 50% mark to rise up to 60%.

Following are the statistical conclusions drawn from this week’s technical analysis:

  • Risk/Reward Ratio: 1.13 (Ideal ratio tends to 2)
  • Optimal Trade Entry(OTE): 0.07011476-0.06953873 BTC
  • Market Cap: USD $18,450,340,515
  • Circulating Supply: 93,675,096
  • Volume(24h): USD $601,013,000

3. Litecoin:

LTC Coinigy 31.07.3017

Litecoin fell since last week. After a short rise, we see a correction beyond 75%. If seller resistance sustains, this is a very good time to buy. One could anticipate the prices to go further down before the next rise. We are still observing a lot of potential in Litecoin which makes it a good coin to invest in.

Following are the statistical conclusions drawn from this week’s technical analysis:

  • Risk/Reward Ratio: 3.24 (Ideal ratio tends to 2)
  • Optimal Trade Entry(OTE): 0.0145804-0.0146539 BTC
  • Market Cap: USD $2,112,147,194
  • Circulating Supply: 52,243,757
  • Volume(24h): USD $75,520,500

4. Ripple:

XRP Coinigy 31.07.3017

Ripple has seen a low of 0.00005674 BTC after a high of 0.00006930 BTC. Risk/Reward ratio has improved a lot as compared to that of last week. In spite of such a dip, Ripple has managed to be the star performer of 2017 with the growth of almost 4000% this year. Q2 growth of 2017 is beyond 1000%. With strong fundamentals and growing community, invest and hold is our recommended position.

Following are the statistical conclusions drawn from this week’s technical analysis:

  • Risk/Reward Ratio: 1.16 (Ideal ratio tends to 2)
  • Optimal Trade Entry(OTE): 0.00005868-0.00005833 BTC
  • Market Cap: USD $6,330,824,924
  • Circulating Supply: 38,333,090,674
  • Volume(24h): USD $41,488,000

5. NEO/AntShares  (02.08.2017):

ANS Coinigy analysis

Antshares, now known as NEO has shown a straight spike earlier today. This was a good exit for short term gainers. We have mentioned the OTE for investors who would still want to put their money on this cryptocurrency.

Following are the statistical conclusions drawn from this week’s technical analysis:

  • Optimal Trade Entry(OTE): 0.00259614 -0.00257465 BTC
  • Market Cap: USD $386,283,000
  • Circulating Supply: 50,000,000
  • Volume(24h): USD $14,750,900

Information sources-

www.coinigy.com
www.coinmarketcap.com

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Analysis: IOTA

IOTA

The backbone of IoT is here.

1. What is it? 

Internet of Things (IoT), a revolutionary technology expanding at a great rate invites the needs for interoperability and resource sharing. IOTA proposes a new business-2-business model where a company can leverage its technological resources to fulfill requirements of other companies. This resource trade will be carried out in an open market in real time without any fees. IOTA is a 3rd generation cryptocurrency which is quantum-proof and works on Tangle, a blockless distributed ledger unlike most of the cryptocurrencies which work on the blockchain technology. Tangle technology involves less effort which makes it faster than the blockchain technology. Tangle ledger is used to settle transactions of on-demand resources and services in the autonomous machine economy for ‘Zero’ transaction fees. Additionally, data from sensor nodes and data-loggers can be stored and verified by the ledger.

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2. FIT Test (F: Future updates; I: Innovation; T: Trends): FIT Test enables us to check the uniqueness, alignment with respect to the current trends and future update of the fundamentals of the corresponding cryptocurrency.

A) Innovations:

i) IoT: Internet of things is evolving. This gives rise to the autonomous machine economy. Basically, IOTA promises a network of machines which can trade resources and services and pay for the same amongst themselves autonomously.

ii) Tangle: This is the major innovation behind IOTA. It is a secure, scalable and lightweight distributed ledger which powers an economy with micro-transactions and even nano-transactions with zero transaction fees. A blockchain’s security could be compromised using quantum computing which seems non-existent at the moment but given the ability of powerful imagination and the strength of introducing it to the realm, preparation is the only defense against such threats. Tangle uses cryptography which is quantum-resistant which makes it futuristic. So unlike uncle blockchain, Tangle can conduct micro payments and it does not fear quantum computers.

iii) Masked Authentication Messaging(MAM): MAM, IOTA core’s first extensible module, allows data exchange across nodes with full authentication and encryption. Every bit of your data stream is transceived with quantum-proof security. MAM also enables a host to broadcast data to multiple parties.

iv) Everything as a service: The ‘Sharing Economy’ model is being adopted by the whole world – Airbnb, Car-pooling, etc. IOTA makes it possible to lease anything with a chip effortlessly and in real time. Leasing services could include resources like computing power, storage bandwidth and appliances like e-bikes, drones and other tools.

v) Scalable ledger revolution: IOTA proposes a distributed ledger which inherits only the better of the blockchain technology. This unleashes a wide spectrum of possibilities out of which only a very few use-cases have been thought of yet. This encourages developers to use such technology to provide real world solutions. One of such use-case is proposed by IOTA themselves. IOTA’s next generation security appeals its usability in the field of e-governance. E-voting is one of the many use-cases which is being explored by different organizations at this stage.

B) Trends: Internet of things, Micro-transactions, Quantum-proof security, Tangled network.

C) Future updates: IOTA released a GUI Wallet v2.3.1 earlier this month. IOTA’s core team and developers have proved that the project’s number one priority is real world adoption. IOTA is focusing on the development of clients in different languages so which would invite developers to make specific deployments in the language of their choice. They plan to include clients to support JAVA (Development complete), C++, Rust, Go. They have rolled out Lightclient and are performing active research on Swarmclient. Active developments are observed to include Automatic snapshotting functionality.

IOTA Logo

Decentralized Internet-of-Things token

 

3. Community:

A) David Sønstebø: Founder of IOTA and a connoisseur of blockchains and cryptocurrency has managed to introduce the revolutionary blockchain less technology.  David likes to be heavily involved in Internet-of-Things, distributed ledger/blockchain/tangle technologies, Smart Cities, Digital identity, e-governance and innovative hardware design. He believes in any kind of technology that drives the human progress.

B) Sergey Ivancheglo:  Apart from being a self-adoring personality, Sergey is a self-made multi-millionaire. ‘Come from beyond’, as he likes to call himself, founded IOTAtoken and Jinn, he has also been a lead developer of NXT and an early adopter of bitcoin.

C)  Sergei Popov: A mathematical expert, a professor at Unicamp University in Brazil and a member of the NXT community provides a scientific guarantee to David’s and Sergey’s ideas at IOTA.

D) Julie A. MaupinAn advisor to IOTA on incorporation and governance set-up of the foundation, Julie also sits on the Fintech advisory board of the German Ministry of Finance and the G20 Digital Economy Experts Task Force. She is also considered to be a key resource person for the UN Internet Governance Forum. She holds research appointments at global major institutes for blockchain technologies and international governance innovations.

E) John Edge: John launched Europe’s first direct market access trading business for capital markets using applications based on algorithmic trading. He co-founded RedKite, a technology company that anticipated the increase in budget and demand for RegTech solutions in financial markets. They launched world’s first enterprise real-time trade surveillance system for capital markets. John recently co-founded ID2020 a principal driven Public-Private Partnership designed to address the market failures that have led to the vulnerable, especially women and children, being unable to receive protection under the international and local law through lack of recognized identity. With decades of experience, John brings a lot of value to the table.

F) Alexander Renz:  Alex can be considered as a corporate knight by looking at his experience in the fields of mobility and transportation. He collaborates to evangelize and drive the adoption of distributed ledger technology in the fields of mobility and transportation particularly in the Pacific northwest and broader west coast.

G) John D. Halamka: A Professor at Harvard Medical School and Chief Information Officer of the Beth Israel Deaconess System John sits on IOTA’s advisory board. He aims to use distributed ledger technology in conjunction with other technologies to deliver safe and futuristic solutions for the e-health sector.

4. Downside/Risks:

a. IOTA lacks a marketing expert or and a community manager. The core developers of the team interact with the community. They may be talented programmers but they might simply lack a sense of social and business development.

b. IOTA cannot be mined. Petabytes of IOTA have already been mined. Exchanges sell IOTAs at price per million. The price of IOTA that you see at exchanges is for a million of those which are indicated as ‘MIOTA’.

 

5. Future:  IOTA is the first and the only company to use blockchain less technology which makes them quantum-resistant. Their market debut on Bittrex exchange observed a record breaking capitalization of USD $1.5 billion. Integration of blockchain less technology with IoT and their vision to use distributed ledger technology in the fields of transportation, mobility, e-governance, e-health, etc. makes them a strong and a long term player in the market.

6. Technical analysis:

IOTA coinigy graph

Technical Analysis of Siacoin indicates that it has corrected itself roughly by 60% which is a usual threshold before a further surge. This makes the current price of IOT quite appealing. Risk/Reward ratio is 1.51 which could  further increase by about 25% if the investment is made at 0.00009180 BTC.

Following are the statistics inferred from the technical analysis:

i) Risk/Reward Ratio: 1.51

ii) Optimal Trade Entry (OTE): 0.00009180 – 0.00009520 BTC

iii) Market Cap: $739,088,220

The ideal Risk/Reward Ratio tends to 2.

7. Comments: IOTA uses revolutionary technology which could be mapped into many real world applications. It definitely has a lot of value attached to it. The community is far more widespread than we could mention it in this post. They are getting into various fields and finding solutions using the distributed ledger technology. IOTA promises long term growth.

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How similar are STOCK MARKETS and CRYPTOCURRENCIES?

Orthodox people seem to be averse to the cryptocurrency market but feel comfortable trading in the stock market since they are relatively unaware that both cryptocurrency market and stock markets are very similar in nature and functioning.

Yes, the cryptocurrency markets are presently volatile, however on the other hand they provide opportunities for very good returns if sound fundamentals and accurate intrinsic values are considered while making the investments.

Therefore www.tradescrypt.com believes that investment strategies in both cryptocurrency and stock markets will be similar provided there is a good understanding of the nature and business of the cryptocurrencies and hence they have been able to achieve good returns for the investors.

Some of these similarities between STOCK MARKET and CRYPTOCURRENCIES are listed below:

  • The value of both cryptocurrency and stocks are based on their business.
  • In both cases, the value is determined on supply and demand basis, that means it depends on how much people are willing to pay for a share.
  • Like stocks, cryptocurrencies can also be categorized into small cap (eg Voxels), mid cap (eg Ripple) and large cap (eg Ethereum and Bitcoins).
  • Similar to IPO’s in stock markets, cryptocurrencies offer a platform to technology companies/start-ups to raise capital through ICO.
  • Understanding company fundamental is important while investing in a stock, similarly understanding cryptocurrency fundamentals (such as technology, community etc) and their intrinsic value is very important to identify the multi-bagger cryptocurrencies of tomorrow.
  • A diversified investment is very important in the stock markets as well as in the cryptocurrency market to reduce risk and increase returns.
  • There are traders, speculators and medium / long term investors in stock markets, those are also present in the cryptocurrency market.
  • As understanding the company business is most important to invest in stock, similarly understanding cryptocurrency technology is the most important factor to multiply your returns by investing in them.

Eventually, only those who understand the market will succeed in the market.

With a team comprising of Techies, Engineers, Analysts, Entrepreneurs and Investment Banking professionals closely involved in the financial technology field, www.tradescrypt.com is able to understand the cryptocurrency market and is able to take a well-informed decision on the position investors should consider in the cryptocurrency market.

www.tradescrypt.com believes that by taking the right, reasonable and logical decisions, investors in the cryptocurrency market can multiply their wealth immensely.

Analysis: Siacoin

Siacoin

Your decentralized private cloud

1. What is it? 

Sia works on a distributed storage network concept where a file, fragmented into nodes is distributed amongst a network of storage centers. No storage center has the complete file or even a significant part of it. This contrasts with the traditional cloud technology where service providers like Amazon S3, Google Cloud and Microsoft Azure don’t provide decentralization. This gives rise to various vulnerabilities to the user data since it is controlled by a single service provider. In recent years we have seen many service providers compromising the privacy rights of the users in pursuit of obtaining higher profits. The decentralization is achieved by inviting anyone and everyone who would want to rent their storage space and bandwidth. Files are secured by asymmetric key cryptography where only the file owners have access to the private key.

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2. FIT Test (F: Future updates; I: Innovation; T: Trends): FIT Test enables us to check the uniqueness, alignment with respect to the current trends and future update of the fundamentals of the corresponding cryptocurrency.

A) Innovations:

i)Open source: Over a dozen developers have contributed to Sia. Innovative applications are already being built by an active community of developers on top of the Sia API.

ii)Blockchain marketplace: Blockchain technology is used to create a market place where different hosts compete for business. Storage services can be obtained using Siacoin which can be mined and traded.

iii)Decentralization: Sia distributes different fragments of user files across the network of storage hosts. File owners hold the private keys. This prevents anybody except the owner from accessing or altering the files.

iv)Affordable: Sia’s cloud storage is far cheaper as compared to any service provider. Sia charges up to USD $2 per Terabyte of data unlike Amazon S3, which charges USD $23 per Terabyte.

v)High redundancy and uptime: Distribution of fragments across the global storage network prevents single point of failure and ensures highest uptime making it as good as the other service providers.

B) Trends: Preserve user privacy rights, Decrease storage cloud costs.

C) Future updates: With the launch of Sia v1.3.0 – Capricorn, Sia has added on automatic online file repair and upgraded their network capacity and wallet stability. Their public roadmap states many upgrades in September 2017 which includes a reduction in the time required to form file contracts by 12 times. 6-month plan includes implementation of video streaming feature. Sia has about 700 hosts and 2.8 Petabyte of data already. Sia aims to be a strong player in the coming years, competing with giants like Amazon, Google, Microsoft and Dropbox

 

Siacoin – Your decentralized private cloud

 

3. Community:

A) David Vorick: Former software developer at IBM and Bitcoin Core developer is also the Co-founder of Sia, a decentralized private cloud storage platform.

B) Drew Volpe: Partner and Co-founder at Procyon Ventures, one of the three major enterprises which contributed to the $750,000 seed for Siacoin says “Every team that works with data in a meaningful way, from AI to precision medicine to Industrial IoT, is seeing an explosion in the size of the datasets they want to be able to work with. Sia has the potential to be a game changer for them by fundamentally changing how data is captured, stored, and distributed.” Drew is known to be an entrepreneur, investor and an experienced technologist in the field of search, machine learning, sensors and mobile technology. He is also a mentor to startups at MIT, Harvard and other major institutions across the globe.

C)  Joshua Langsam: Associate Director at Raptor Capital Management, second of the three major enterprises which contributed to the $750,000 seed is impressed by Sia’s distributed cloud storage platform. Raptor Group is a private investment company.

D) Fenbushi Capital: This Chinese venture capital firm invests exclusively in projects associated with blockchain technology.

E) NextCloud: NextCloud, an open source alternative to Dropbox has partnered with Sia.

4. Downside/Risks:

a. The path of adoption to new technology has always been long. It will take time for users as well as hosts to start accepting such a platform and migrating their data to it.

b. It could take quite a lot of time for Sia to achieve a decent amount of traction which would help realize the value they are projecting at the moment

c.  There is no limit to the number of Siacoins minted. There are close to 30 billion Siacoins in circulation today. The purpose of Siacoins is to ensure the fulfillment of transactions across the network and not to be used as a digital currency per se.

5. Future:  The cloud storage market is undoubtedly a large market. Sia’s promising ability to implement storage at a far cheaper rate than the large players in the market and partnership with NextCloud proves that Sia is here to stay.

6. Technical analysis:

 

Technical Analysis of Siacoin indicates that it has corrected itself beyond 60% which is a usual threshold before a further surge. This makes the current price of Sia quite appealing. Risk/Reward ratio is 2.13 which makes the investment opportunity very lucrative.

Following are the statistics inferred from the technical analysis:

i) Risk/Reward Ratio: 2.13

ii) Optimal Trade Entry (OTE): 0.00000332 – 0.00000348 BTC

iii) Market Cap: $ 232,861,788

The ideal Risk/Reward Ratio tends to 2.

7. Comments: Sia’s path-breaking solution for cloud storage is fundamentally strong which makes it a good investment but Sia’s at an early stage development and it could gain value over time once it starts achieving what it promises.

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Ideal approach for Cryptocurrency Investing

www.tradescrypt.com’s Cryptocurrency Consultancy Services provides an ideal approach for cryptocurrency investing.

Increased volatility has been observed recently in the cryptocurrency market. There may be negative sentiments toward the cryptocurrency market due to decline in the cryptocurrency prices and this may have lead to traders losing sleep.

An ideal investing strategy is to invest in fundamentally strong cryptocurrencies so that investor’s hard earned money earns money on its own over the medium to long term period, without continuous effort from the investor.

However, short term trading is completely different. Here the trader does not consider the fundamentals, but very diligently focuses only on the upward and downward price movements so that the trader can cash in on those short term trades.

Difference in the two above mentioned approach is that traders tend to neglect fundamentals, therefore they cannot afford to keep their eyes away from the price movements. Unlike the investors, traders money do not automatically earn money but it is the trader who is earning money.

www.tradescrypt.com does not believe in the approach considered by the trader, but their cryptocurrency consultancy services are formulated for efficient medium to long term investments in cryptocurrencies. This approach only considers cryptocurrencies with strong fundamentals such as Bitcoin, Ethereum, Ripple, Litecoin, Antshares etc.

Once www.tradescrypt.com’s research team considers a cryptocurrency fundamentally strong, only then the technical analysis team finds and recommends an optimum entry point and advises the investors to hold those cryptocurrency at least for a medium term period (with the Stop Loss range clearly defined).

With this approach, www.tradescrypt.com is able to very effectively focus on fundamentally strong cryptocurrencies and this has resulted in investors achieving very good returns over the medium to long term period.

This approach ignores the noise around the market but only focuses on the sound fundamentals and optimum trade entry and exit points. Thus, www.tradescrypt.com is able to generate very good returns for the investors by providing cryptocurrency consultancy services purely based on credible information and firm understanding of the intrinsic value of fundamentally strong cryptocurrency.

Myth buster: Is Bitcoin and cryptocurrency trading illegal in India?

Myth buster: Is Bitcoin and cryptocurrency trading illegal in India?

 1. What is Bitcoin and cryptocurrency?
Cryptocurrencies are digital currencies that can be used to make payments in exchange for goods and services. These are decentralized currencies, i.e. they operate independently of a central bank as opposed to centralized digital currency/electronic money. These currencies are generated and maintained using encryption algorithms which form a public ledger. Bitcoin was the first decentralized cryptocurrency found in 2009. It works on the blockchain technology. Bitcoin and Cryptocurrencies can also be bought in fraction allowing investors to  buy even INR 500 worth of Bitcoins / cryptocurrencies. You probably may have heard of Ethereum as well. It is the 2nd most valued cryptocurrency after Bitcoin. Further, there are about 800 different cryptocurrencies, each one having different value associated with it.

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2. What is so good about them?
Cryptocurrency is said to be the future of economy. Here are some of it’s noteworthy features:

a) Anti-Fraudulent: Unlike fiat currency, cryptocurrency cannot be counterfeited or reversed arbitrarily by the sender.

b) Safeguards Identity: In the scenario of credit cards, which operate on ‘pull’ mechanism, irrespective of the amount, every time, the card holder has to provide access to their full credit line. ‘Pull’ mechanism allows the store to pull the designated amount from your account. Cryptocurrency work on ‘push’ mechanism which allows the cryptocurrency holder to send an exact amount to the recipient with no additional information.

c) Immediate Settlements: Purchase of real world assets typically invite a timely procedure along with it. The settlements may take days, weeks or sometimes even more due to third party delays (Lawyers, Notary, Government approvals). Bitcoin/cryptocurrency contracts can be designed and enforced to eliminate or add the requirement of third party approvals or external factors. Moreover, the requirement to complete an asset transfer at a future date or time could be fulfilled at a significantly lower expense.

d) Lower fees: Usually, there aren’t any transaction fees involved with Cryptocurrencies because the miners are being compensated by the corresponding networks. However, people prefer to use third-party wallet services like Zebpay, Unocoin and Pocketbits for creating and maintaining their own bitcoin wallets. They charge a fee which is lesser than what is charged by traditional payment transaction services like PayPal, Bank transfers and others.

“THE BLOCKCHAIN KEEPS EVERYONE HONEST, AND A WHOLE LAYER OF BANKING BUREAUCRACY IS REMOVED, LOWERING COSTS.” — PAUL VIGNA.

e) Ownership: Existent transactional service providers like PayPal have the power to freeze your assets when they have a reason to believe that your account has been misused. Such cases have repeated themselves more than it may seem. In the case of cryptocurrency, you hold your private key and corresponding public key which makes up your cryptocurrency address. Unless you lose it yourself, there is no way anyone can take that away from you.

3. Why is it all over the Internet?


This is what a Bitcoin chart looks like. It can be seen an exponential growth in terms of value and market capitalization. Currently Bitcoin is valued at $2570 USD with a market cap of approximately $42 billion USD. Bitcoin market dominance as of 7th July 2017 is 42.8%

4. Has it really made Millionaires or Billionaires?
Yes it has! Fortune.com says if you brought $5 worth of Bitcoin you’d be $4.4 million richer. Look at the Bitcoin price chart, there people who got into bitcoin in early 2013 by investing a few, hundred or thousand dollars. You can calculate their worth today. You will find hundreds of people on the internet who have literally gone from ‘Pickup trucks to Lambos’ in no time.

5. Can I become a Millionaire/Billionaire too?
Well, of course! It is never too late. There are 800 different Cryptocurrencies apart from bitcoins (a.k.a. altcoins), a lot of which have not realized their full value yet. If you can spot the right altcoins and invest in them right now, who knows? That Lambo could be yours’ too!

6. Are cryptocurrencies illegal in India?
No! It is not illegal, it never was. In fact, thousands of people from India have been trading cryptocurrency for many years now. They have made a lot of money too.

  • On February 1st 2016, RBI issued another cautionary press release which states that users transacting cryptocurrency must be aware of their Cryptocurrencies and the risks associated with them since they don’t regulate these Cryptocurrencies. A similar notice was given by them in December 2013.
  • A month later, in March, RBI Deputy Governor R. Gandhi raises points out financial, legal, customer protection and security aspects of Cryptocurrencies that they deem to be risky.
  • As of August 2016, there were 50,000 estimated Bitcoin users in India. Please note that this was during the pre-demonetization period. This number has been growing ever since. The establishment of prominent exchanges and wallets like BTCXIndia, Zebpay, Unocoin, Pocketbits has resulted more and more people get into cryptocurrency trading in India. By some estimates, Bitcoin users could alone go beyond five million by 2019, globally.
  • After the revolutionary announcement of cash ban by PM Narendra Modi, Bitcoin was reported to be inflated 20-25 percent over cost. The value shot up from ₹40,000/Bitcoin in October 2016 to ₹90,000/Bitcoin.
  • During or until this period, unlike the RBI, regulators elsewhere in the world were taking measures proactively to adopt such currency. These include neighboring countries like China, Russia, Singapore and Philippines.
    Although an Inter-disciplinary committee was set up by the RBI in March,2017 to examine the risks associated with Bitcoin and other virtual currencies
  • RBI’s research wing, the Institute for Development and Research in Banking Technology, acknowledged the prominence of blockchain technology and such currency by issuing a whitepaper.
  • Cut to June 27, 2017. Union Finance Minister Arun Jaitley held a meeting to discuss several issues concerning bitcoins after seeking a public opinion on allowance of such currency a month ago.
  • The meeting ended without any verdict but with a further commencement in end of this month.
  • Please note that the Government has never used the word “Illegal” in any of their notices. Nishith Desai Associates, India’s leading international law firm has released a whitepaper which concludes that Bitcoin is legal in India.
  • All the exchanges are following strict KYC Policies which includes PAN and Bank verification before the user can start transacting Bitcoin.
  • With countries like USA and China having reached at a point where they have ATMs for Bitcoin, India will definitely catch up with the trend soon.
  • India has a population of about 1.3 billion people. They day the word goes out that Government of India is officially supporting Bitcoin, one can easily speculate a considerable amount of hike in its value since demonetization. You surely want to hold some Bitcoin and Cryptocurrencies when this happens. Who would want to miss out?

 

Tradescrypt.com hopes that this has cleared all the misconceptions about Bitcoin and cryptocurrency trading in India and answered all your questions.

If you think that we have missed out on anything, please feel free to leave a comment or contact us.

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