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Cryptocurrency Rally Continues as the Lightning Network Makes Bitcoin Viable P2P Payment System

Aug 10, 2018

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Top 5 Cryptocurrencies sorted by 24 hour Volume

Name Ticker Price 1H% CHG 24H%CHG 7D%CHG MARKET CAP 24H VOLUME
Bitcoin BTC USD$6490.07 1.24% 2.54% -12.57% USD$111,635,602,191 USD$4,572,301,279
Ethereum ETH USD$361.41 0.26% 0.81% -12.2% USD$36,588,646,998 USD$1,705,595,842
EOS EOS USD$5.64 1.09% 1.37% -20.74% USD$5,112,320,910 USD$802,637,032
Bitcoin Cash BCH USD$604.22 1.61% 2.25% -15.74% USD$10,443,898,784 USD$347,592,865
XRP XRP USD$0.34 0.99% -0.17% -22.64% USD$13,343,316,635 USD$274,746,258

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Name Ticker Price 1H% CHG 24H%CHG 7D%CHG MARKET CAP 24H VOLUME
Stellar XLM USD$0.22 1.4% 7.51% -13.5% USD$4,137,627,088 USD$82,496,085
Dash DASH USD$185.8 1.04% 6.56% -10.58% USD$1,532,792,900 USD$103,527,888
OmiseGO OMG USD$4.75 2.02% 4.37% -11.44% USD$666,062,992 USD$48,643,208
Qtum QTUM USD$5.44 1.32% 3.89% -12.97% USD$483,503,287 USD$149,798,221
Cardano ADA USD$0.12 1.53% 3.23% -6.75% USD$3,145,580,036 USD$95,453,329

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  • Brave, the privacy-focused web browser launched by a co-founder of Mozilla, plans to roll out a tipping add-on to its cryptocurrency payments platform.  Users will now be able to tip other users via twitter and reddit via a Basic Attention Token wallet.
  • The Head of Research at the Bank for International Settlements (BIS) argues that bitcoins and other cryptocurrencies are “masquerading” as real currencies.  In an interview with Bloomerg, Hyun Song Shin suggests that digital cash is merely a “record keeping device” and is worthless: value only increases when others accept.  The irony of this commentary is not lost on us here at Quantamize…what exactly is fiat currency again?!
  • The Commonwealth Bank of Australia is partnering with World Bank to issue a bond on a blockchain platform.  The bond, called bond-I, is based on the internal technology research by the Commonwealth Bank of Australia which is experimenting with having investors and banks interacting through nodes on the blockchain to help capital for the bonds to be raised, transacted and paid back more efficiently.
  • Crypto MKT, a Chiliean cryptocurrency exchange, has announced that it has integrated with 5,000 merchants through a JV with Flow.cl.  The platform is called CryptoCompra.com and is available in Chile, Argentina, Brazil and Europe but is only targeting Chileans.  It is now possible for Chilean to pay for goods across these regions using Bitcoin, Ethereum or Stellar while merchants will receive their payments in fiat currency.
  • Dish Network is now accepting subscription payments in Bitcoin Cash.  This initiative is alongside Dish’s move to the Bitpay blockchain payment system for Bitcoin. 
  • Gabrotech is developing a blockchain platform that will allow loyalty programs to offer rewards in digital assets.  The company is proposing to launch a digital wallet which will aggregate loyalty programs rewards into one place for users.  According to Gabrotech, a single household is enrolled in 25 programs on average, but the rate of their utilization remains low, ranging from 10% to 80%.  
  • The lightning network is now making it easier Bitcoin to become the P2P payment system that many early Bitcoin adopters believed.  Apps are built on layer-two technology and permits users to send small amounts of money P2P.  Unlike other payment systems like PayPal where the fees could eat up a large portion of tiny transaction, the fee on the lightning network is only 10 satoshis or a fraction of $0.01.  
  • Litecoin transactions will soon be available to be sent through Telegram.  The new feature, Lite.im, will permit users to send Litecoin via SMS messages on the Telegram platform. 

Source: Stockdio

Sources:

https://www.coindesk.com/world-bank-taps-australias-commbank-to-issue-its-first-blockchain-bond/
https://cointelegraph.com/news/world-bank-mandates-commonwealth-bank-of-australia-to-issue-bond-using-blockchain-tech
https://www.ccn.com/world-bank-picks-australias-cba-to-deliver-worlds-first-blockchain-bond-on-ethereum/
https://www.ccn.com/new-partnership-sees-over-5000-merchants-accept-cryptocurrency-payments-in-chile/
https://www.ccn.com/dish-network-corporation-now-accepts-bitcoin-cash/
https://www.coindesk.com/bitcoins-open-secret-lightning-is-making-better-online-payments-possible/
https://cointelegraph.com/news/blockchain-startup-enables-litecoin-transactions-via-telegram-messenger
https://cointelegraph.com/news/blockchain-startup-enables-litecoin-transactions-via-telegram-messenger
https://bitcoinist.com/pga-championship-hit-with-bitcoin-ransom-attack/
https://bitcoinist.com/there-are-10-bitcoin-etf-proposals-pending-but-only-1-matters/
https://www.coindesk.com/wechat-trials-blockchain-for-faster-refunds-of-company-expenses/