submitted by xSeq22x to QuantNetwork [link] [comments]
AX Trading LLC (AX), a technology-enabled registered broker-dealer and Alternative Trading System (ATS) operator, today announced a strategic partnership with Quant Network a pioneering technology company providing financial and regulatory technology as well as interoperability in financial services, payments and capital markets infrastructure. Through this partnership, Quant Network’s technology, Overledger a blockchain operating system, will enable universal interoperability for regulatory-compliant security tokens and digital assets to be traded on AX ATS, a regulated secondary trading market. AX intends to integrate Overledger to help foster the evolution of traditional capital markets infrastructure to facilitate the mass implementation of interoperable regulated digital assets. With the increased market adoption of digital assets and banking “coins” such as JPMorgan Coin, AX and Quant Network are at the forefront to enable the transferability and movement of digital assets. George O’Krepkie, AX CEO said: “we look forward to partnering with Quant. Their technology will allow our blockchain agnostic security token exchange to communicate seamlessly with issuers, traders, investors, and regulators across different blockchain protocols. This is a key technological breakthrough that will help us bring the benefits of security tokens to Main Street and Wall Street.” It is expected that the first interoperable digital asset offering may commence as soon as January 2020, and that the AX Trading ATS may be ready to enable and list interoperable digital assets and securities in 2020.Let’s have a closer look at what that means to truly appreciate the significance of the partnership by covering the basics for those not familiar with wall street.
What is an Institutional Investor / Trader?An institutional investor is an organization that invests on behalf of the organization's members. They consist of hedge funds, banks, investment banks, pension funds, insurance companies, endowment funds, or any other type of money management firm.
Institutional investors account for about three-quarters of the volume on the New York Stock Exchange (which alone handles more than $20 Trillion a year in volume). In the US, Institutional investors own about 80 % of the total market value of the equity (stock) market, which globally is worth more than $73 trillion.
Wall Street refers to the institutional investors I mentioned above whereas Main Street refers collectively to members of the general public who are not accredited investors and the overall economy as a whole.
Whilst the Equity Market is huge, Institutional investors also invest in other securities which are prime to be tokenised such as Real Estate Market (Globally worth $217 trillion), the Debt Market (Globally worth $215 trillion) and the Derivatives Market (Low end estimates at $544 trillion and high-end estimates at $1.2 quadrillion). All of which makes the current market cap for cryptocurrencies look like a drop in the ocean.
Who are AX Trading?AX Trading is a SEC-registered broker-dealer and Alternative Trading System (ATS) Operator. They are a member of FINRA (Financial Industry Regulatory Authority)and SIPC ( Securities Investor Protection Corporation) regulated authorities. The SEC has some of the most stringent regulations in the world for listing securities and there are fewer than 50 SEC-registered Alternative Trading System Operators in the United States, of which only a handful are currently implementing Digital Assets. Others are awaiting regulatory approval with Coinbase, Circle etc are all looking at getting into this huge market.
AX Trading have investors and sponsored brokers including the likes of Credit Suisse, (a multinational investment Bank and Financial services company worth $27.5 billion). AX currently have over 800 Institutional traders (these are not individuals, but corporations such as hedge funds, banks, investment banks, pension funds, insurance companies, endowment funds etc).
AX Trading have also partnered with Euronext, the largest Stock Exchange in Europe with a market cap of $4.65 trillion as of 2018, in the creation of Euronext Block which utilises AX Trading.
What is an Alternative Trading System?An Alternative Trading System (ATS) is an SEC-regulated trading venue which serves as an alternative to trading at a public exchange. ATS account for much of the liquidity found in publicly traded issues worldwide. They are known as multilateral trading facilities in Europe, electronic communication networks (ECNs), cross networks, and call networks
AX is the world’s first “Electronic Trading Network” (ETN) where institutional traders can proactively connect and trade with other counterparties in a secure environment. Unlike traditional stock exchanges/ECNs that show orders to everyone and traditional dark pools/crossing systems that show orders — presumably — to no one, AX allows institutional traders to pick and choose WHOM they want to notify and also WHAT information they want to share with them.
Institutional investors may use an ATS to find counterparties for transactions instead of trading large blocks of shares on national stock exchanges. These actions may be designed to conceal trading from public view since ATS transactions do not appear on national exchange order books. The benefit of using an ATS to execute such orders is that it reduces the domino effect that large trades might have on the price of an equity.
How does AX Trading Work?The AX Trading process begins when one trader sends an “initiated” order to AX. The order can be routed to the AX ATS via one of our broker sponsors such as Credit Suisse. The initiated order triggers a “Call Auction” on AX, a period of time when the order will rest in AX to be matched against other orders from auction responders.
The Initiator of an AX auction decides who they want to invite to participate in the auction, whether they be all 800+ institutional members or targeted to specific ones, as well as how much info they want to disclose about the order. Based on these instructions, the AX ATS then notifies the members inviting them to participate in the trade.
The invited members can then participate in the trade by either placing buy orders of their own or placing sell orders. At the end of the AX auction period, all orders are brought together, and a match is performed.
In the traditional, continuous market with displayed bids and offers, traders are often chasing liquidity. In other words, the price may move away from them the more they buy or sell to what is commonly called “market impact.” On AX, the advantage of their call auction model is it brings liquidity — in the form of participant orders to the buyer rather than them chasing liquidity.
What is a Security Token?Security Tokens are different than Utility Tokens or Cryptocurrencies. A security token is a digital representation of a traditional security. It may represent shares in a company, interest in a fund, real estate, art collectables, or essentially any asset a party can own. Anthony Pompliano wrote an article explaining tokenised securities in more detail which you can see here
Security Tokens are digital assets subject to federal security regulations. In layman terms, they are the intersection of digital assets (tokens) with traditional financial products — a new technology improving old things. If cryptocurrencies like Bitcoin are considered “programmable money” then you can consider Security Tokens a version of “programmable ownership.” This means that any asset with ownership can and will be tokenized (public & private equities, debt, real estate, etc).https://preview.redd.it/21cz6zvus0m31.png?width=569&format=png&auto=webp&s=883eb844e1061cddd585903549dde829098765c2
Quant Network community member David W also wrote an excellent piece on the benefits of tokenisation of assets in a lot more detail than what I will briefly cover here and strongly recommend you check it out.
The Tokenisation of assets is therefore inevitable, because it is a better way to record, exchange and monitor asset ownership for all parties involved. The amounts at stake represent many hundreds of trillions of US dollars
What are the benefits of a security token?
Security Token Issuance PlatformsSecurity token issuance platforms allow issuers to issue Security tokens that represent the security such as Shares in their company etc in return for capital. This is known as a Primary Market. Importantly it’s not just the issuance that they look after, it’s the whole life cycle of a digital security to ensure they remain continuously in compliance as they are traded etc. They also provide reporting to the issuer so they can see who owns the tokens and what dividends to pay out.
Securitize are one of the leading security tokens issuing platforms. They have created the DS Protocol, a blockchain agnostic protocol for security tokens which manages the whole lifecycle of a digital security, ensuring it remains continuously in compliance. They have issued a number of security tokens on the Ethereum network as well as recently working with IBM to tokenise the Corporate Debt Market (worth $82 Trillion). On the back of this they joined Hyperledger, an open source project which includes Enterprise blockchains such as Hyperledger Fabric which IBM is heavily involved with.
They recently also became the first SEC-registered transfer agent, which means Securitize can now act as the official keeper of records about changes of ownership in securities.
There are many companies in this sector which are utilising various blockchains, Other examples include:
Trading VenuesWhilst the issuance platforms above generally also include their own exchange where the token can be traded on, secondary markets such as those offered through traditional stock exchanges and Alternative Trading Systems provide significantly more liquidity.
Traditional Stock Exchanges have been very active in blockchain with some going through proof of concepts, to those like SIX SDX Digital Exchange which is due to launch later this year. They are using various blockchains and cover the full process from Issuance, Trading and Post Trade / Settlement services. I have briefly outlined which blockchain they are using / testing with along with source to read more about it below:
Post Trade — Central Security DepositoriesSituated at the end of the post-trading process, CSDs are systemically important intermediaries. They thereby form a critical part of the securities market’s post-trade infrastructure, as they are where changes of securities ownership are ultimately registered.
CSDs play a special role both as a depository, involving the legal safekeeping and maintenance of securities in a ‘central depository’ on behalf of custodians (both in materialised or dematerialised form); as well as for the issuer, involving the issuance of further securities by issuers, and their onboarding onto CSDs’ platforms.
CSDs are also keeping a number of other important functions, including: dividend, interest, and principal processing; corporate actions including proxy voting; payment to transfer agents, and issuers involved in these processes; securities lending and borrowing; and, provide pledging of share and securities.
Blockchain technology will enable real-time settlement finality in the securities world. This could mean the end of a number of players in the post-trade area, such as central counterparty clearing houses (CCPs), custodians and others. Central Security Despositories (CSD) will still play an important role according to reports:
“CSDs could have an important role to play in a blockchain-based settlement system. As ‘custodians of the code, CSDs could exercise oversight of, and take responsibility for, the operation of the relevant blockchain protocol and any associated smart contracts.” Euroclear Report
Another group of 30 central securities depositories (CSDs) in Europe and Asia are researching possible ways to “join hands” in developing a new infrastructure to custody digital assets. The CSDs will attempt to figure out how to apply their experience in guarding stock certificates to security solutions for crypto assets.
“A new world of tokenized assets and blockchain is coming. It will probably disrupt our role as CSDs. The whole group decided we will be focusing on tokenized assets, not just blockchain but on real digital assets.”
You can read more about how blockchain will affect CSD’s here
Examples of CSD’s in blockchain
The Importance Of Interoperability
The evolution of DLT and the wide adoption across industries and across different market segments is resulting in many different ledgers networks, but the ultimate promise of DLT can only be realized when all ledger networks can seamlessly interoperate. — from the recent DTCC whitepaper with AccentureIt’s clear from the above that interoperability will be crucial in order to unlock the true potential of Distributed Ledger Technology. Issuance platforms will seek to interoperate with as many secondary exchanges as possible to provide maximum liquidity for issuers. Issuance platforms and secondary exchanges are each using a wide range of different blockchains that all need to interoperate as part of the trade process. CSD’s will also need to have interoperability between other CSD’s as well as to the secondary exchanges (again each using different blockchains).
Enter Quant Network’s OverledgerQuant Network’s blockchain operating system, Overledger, provides interoperability between any current and future distributed ledger technology as well as easily connecting Off Chain / Legacy networks as well as plans to connect directly to the Internet. Within 10 months it has proven it can provide interoperability with the full range of DLT technologies from all the leading Enterprise Permissioned blockchains such as Hyperledger, R3’s Corda, JP Morgan’s Quorum, permissioned variants of Ethereum and Ripple (XRPL) as well as the leading Public Permissionless blockchains / DAGs such as Bitcoin, Stellar, Ethereum, IOTA and EOS as well as the most recent blockchain to get added Binance Chain. All without imposing restrictions on connected chains, being Internet scalable and able to easily integrate into existing networks / infrastructure.
Overledger a blockchain operating system, will enable universal interoperability for regulatory-compliant security tokens and digital assets to be traded on AX ATS, a regulated secondary trading market. AX intends to integrate Overledger to help foster the evolution of traditional capital markets infrastructure to facilitate the mass implementation of regulated digital assets. With the increased market adoption of digital assets and banking “coins” such as JPMorgan Coin, AX and Quant Network are at the forefront to enable the transferability and movement of digital assets
Overledger enables Universal Interoperability where digital assets can move across blockchains so that they can interact with smart contracts on different blockchains. It does this by locking the asset on one blockchain and then representing it on another blockchain either by creating a representing token or representing it via metadata. This will enable all of these different parties such as Issuance platforms, Exchanges, CSD’s, traders etc to move the digital asset from their respective blockchain onto AX Trading’s platform for secure, immediate and immutable trading to take place. Potentially it would even allow Digital Assets / Securities to settled on a public permissionless blockchain such as the recently connected Binance Chain in a completely safe, secure and compliant way.
Regulators would be able to run a node and view transactions in real time ensuring that compliance is being kept. Potentially they could also benefit from using Quant Networks Multichain Search capability http://search.quant.network/ to be able to fully track assets as they move across blockchains.
George O’Krepkie, AX CEO said: “we look forward to partnering with Quant. Their technology will allow our blockchain agnostic security token exchange to communicate seamlessly with issuers, traders, investors, and regulators across different blockchain protocols. This is a key technological breakthrough that will help us bring the benefits of security tokens to Main Street and Wall Street.”
SecurrencyAX Trading have also partnered with Securrency (who have previously tokenised over $260 million in real estate assets). Securrency provide a protocol that enables security tokens to remain in compliance regardless of what blockchain the token is on. Due to the layered approach that Overledger has adopted from the learnings of TCP/IP, this protocol can be easily integrated on top of Overledger to enable security tokens to move across blockchains as well as ensuring they remain in compliance with regulations programmed into the token.
Delivery vs Payment (DvP)
A DvP transaction involves the settlement of two linked obligations, namely the delivery of securities and the payment of cash. DvP avoids counterparties being exposed to principal risk, i.e. the risk that the seller of securities could deliver but would not receive payment or that the buyer of securities could make payment but would not receive delivery. Following this requirement, a DvP securities settlement mechanism has to ensure that the delivery of securities and the payment of cash are linked in a way where one leg (obligation) of the securities trade is conditioned to the final settlement of the other leg (obligation) of the trade. Thereby final settlement is defined as “the irrevocable and unconditional transfer of an asset or financial instrument, or the discharge of an obligation by the FMI or its participants in accordance with the terms of the underlying contract”. — STELLA — a joint research project of the European Central Bank and the Bank of JapanWe have seen how Overledger can provide interoperability for the securities to move across Issuers platforms, integrate with Stock exchanges, Central Security Depositories and AX Trading. Now we need to be able to ensure that payment is guaranteed and in a way that offers immediate settlement which is irrevocable. To do this we need to represent FIAT on the blockchain so that it can interact with smart contracts and settle transactions on the blockchain.
J.P.Morgan’s CoinJ.P.Morgan is the largest bank in the United States and ranked by S&P Global as the sixth largest bank in the world by total assets as of 2018, to the amount of $2.535 trillion.
J.P. Morgan was the first U.S. bank to create and successfully test a digital coin representing a fiat currency. The JPM Coin is based on blockchain-based technology enabling the instantaneous transfer of payments between institutional clients.
With J.P.Morgan’s $2.6 trillion balance sheet, expertise in blockchain and global payments network, J.P. Morgan can seamlessly and securely transfer and settle money for clients around the world. J.P. Morgan are supervised by banking regulators in the United States and in the international jurisdictions in which it operates.
How does JPM Coin work?A Buyer purchases JPM coins in advance which get represented on the Permissioned Quorum blockchain ($1 =1 JPM Coin). Quant Network’s Overledger could then provide interoperability to lock those tokens on Quorum and represent those onto another blockchain / AX Trading’s Network. By being able to represent securities and FIAT on the same blockchain (even though the underlying assets are on different blockchains) this provides instant finality / settlements to occur.
Once the seller receives the JPM coin in exchange for the securities they have sold they will be able to redeem them for USD. It also doesn’t necessarily mean that they have to have a JP Morgan account to redeem them, you could imagine in the future that the Bank instead redeems the JPM Coin and credits the users account. Similarly the buyer of the security token redeems the represented token and unlocks the security token on the original blockchain.
You can read more about JP Morgan’s Coin here as well as its use cases
J.P Morgan is betting that its first-mover status and large market share in corporate payments — it banks 80 percent of the companies in the Fortune 500 — will give its technology a good chance of getting adopted, even if other banks create their own coins. “Pretty much every big corporation is our client, and most of the major banks in the world are, too,” Farooq said. “Even if this was limited to JPM clients at the institutional level, it shouldn’t hold us back.”Overledger enables different securities tokens / digital coins representing FIAT currencies to be brought together from the various permissioned / permissionless blockchains onto one platform where trading / settlement can take place. Overledger is the only technology that can do this today across the leading permissioned and permissionless blockchains as well as existing networks, all in a secure, scalable and easy to integrate way.
Quant Network are working with AX Trading to bring more digital assets, securities and tokenised assets to their existing 800 institutional traders in an already live and connected FINRA and SEC regulated exchange. AX Trading is not just about trading securities but other digital assets such as Bitcoin, Ethereum and potentially even Quant in the Future.
This is a multi-trillion dollar market with huge global enterprises, traditional exchanges and global banks are all adopting DLT at a rapid pace and going into production at scale in a matter of months, examples include the NYSE Bakkt launching Bitcoin futures later this month, Swiss Stock Exchange ($1.6 Trillion market Cap) is due to launch their digital exchange running on Corda (SDX) by the end of the year. The DTCC are due to launch their Trade Information Warehouse which processes $10 Trillion of cleared and bilateral derivatives by the end of the year. JP Morgan who transfer $6 Trillion every day are due to launch their JPM coin at the end of year and AX Trading is due to offer their first digital asset by January 2020.
Quant Network’ Overledger enables the bridging of traditional finance infrastructure with the new decentralised finance infrastructure DeFi of the future, helping to redefine Wall Street and Capital Markets.
submitted by QBEXCHANE to u/QBEXCHANE [link] [comments]
Perlin is clearly shown in the road map — has released a working prototype back in November 2018. During 2019, the team developed a Wavelet and commercial applications Clarify and Certify.
Utorg Exchange has launched the IOU Desk, where you can trade tokenized obligations of projects that have not yet been listed. The first such project was Perlin, awaiting IEO at Binance.
What is an IOU Desk
IOU (I Owe You) is a tool familiar to those who have actively invested in ICOs 2017-2018. This is the collective name of various documents that formalized the obligations of the founders to investors. The most common type of IOU document is SAFT (Simple Agreement for Future Tokens), by analogy with the SAFE (Simple Agreement for Future Equity), which is popular in classical venture financing.
Such IOU have accumulated a lot of funds. And often they no longer fit investment fund strategies. Utorg buys from funds such IOU of promising projects, tokenizes them and puts them up for auction. After purchasing internal exchange tokens for a specific asset, the user sees them in his personal account.
The exchange is not responsible for the activities of the projects, but guarantees that when the real project tokens are issued and transferred to the exchange in exchange for SAFT, they will be distributed among those users who will have IOU tokens on the balance for this project.
Buy Perlin before IEO at Binance
Exchange experts carefully select projects before putting them on the IOU Desk - they study the history of each project and the current state of affairs in it. The road maps of such projects are being implemented on time, the community is growing, there is a market interest in their products and solutions. But tokens are still not issued, or are not listed.
The Utorg team promises to delight users with the hottest offers. And the first project on the new site was Perlin.
The IOU Perlin package, owned by the Advance.fund investment fund, has been put up for auction. The fund is a strategic partner of the Utorg exchange. The fund invested in Perlin during one of the earliest rounds. The deal was closed on June 27, 2018. According to SAFT, 1 292 202 tokens were acquired.
Perlin is a highly scalable smart contract PoS platform that delivers more than 31,000 TPS throughput. This is the fastest, safest and most scalable blockchain solution of all.
Perlin clearly follows the road map - it released a working prototype back in November 2018. During 2019, the team developed Wavelet and the Clarify and Certify trading applications.
Perlin is currently focusing on the international trading market with a volume of $ 11 trillion. The network will be developed jointly with international chambers of commerce and a number of large concerns. This will quickly scale the project, which covers more than 150 countries and 40 thousand companies.
Recently, Binance Launchpad became interested in the Perlin project - the exchange announced the initial exchange offering on August 8. Based on the results of this IEO, the price of the token can grow many times over.
What is known about the Utorg exchange
Utorg.io is a fairly young project launched by experienced representatives of the crypto industry. You can learn more about it here. Then the exchange just went into beta testing. It is still ongoing and you can participate in it to get six months of work without commissions and other bonuses.
Since then, the exchange has introduced new features. Improved user interface based on user comments and added USDT pairs. Although there are still a few cryptocurrencies, there is everything you need for crypto fiat crypto operations. In particular, the exchange manages to maintain the best rate for selling bitcoin for rubles, which is confirmed by monitoring bitcoin exchange rates on exchanges, taking into account all Truebtc.io commissions. Utorg steadily holds the first line at the Bitcoin selling rate with the withdrawal of rubles to the cards of Russian banks.
This is ensured by active work with exchangers, which are convenient to buy BTC here by API. In addition, commissions on the withdrawal of rubles on Visa and Mastercard on Utorg are very low, since Utorg offers the payment system favorable conditions for crypto-processing.
#News #Utorg #Perlin #IOU #IEO #Exchange #Cryptocurrency
I'd like to take the time to reflect on the crazy year that was 2017 for cryptocurrency investors, and weigh in on what we've learned over the past year, while also making a few predictions for the future.
One year feels like a decade in crypto, and so many various forces finally cumulated together in 2017 that we had an explosion of activity that left me feeling both exhausted and exhilarated. We saw LTC go on Coinbase, we saw an ICO rush with new issues like Bancor raising 150mil in 3 hours, we saw the absurdity that is cryptokitties crushing the ETH network, we saw Bitcoin Cash and the shitshow surrounding that, we saw Segwit and the long awaited Bitcoin futures. I will always remember where I was at the moment I watched Bitcoin pass $10,000 on GDAX. I will never forget the sweat as I watched the Gemini Auction for my BTC and then waiting for the payment to settle. And I will never forget the flurry of questions, advice seeking and inquiries from people in December as the media spotlight made cryptocurrencies a mainstream concern. We've come a long way, from the days of being considered oddball technogeeks to now being the vanguard of early adopters.
Some major trends in 2017 and lessons learned
- The Mainstreaming of Cryptocurrencies: This was the year that the "normies" entered crypto in astounding numbers, especially later in the year and cumulating in December. From Ice Tea companies to my hairdresser, everyone wanted to be involved in crypto. New naive money will continue to pump into the market this year, and its important we welcome them while also keeping their expectations grounded in reality. Encouraging new investors with stories of how they can double their investment in a week is not a sustainable method of keeping them interested in crypto.
- ICO Craze: For many 2017 was the year that the ICO. People made a ton of money by getting into ICOs early before a coin became hyped by the marketing efforts. Sites like ICOBench sprung up and provided people an easy way to find new ICOs to invest in, and those who got in could get a handsome profit by buying the coins for pennies then selling them for dimes a few months later at an exchange, with many ICOs offering pre-sale discounts for early registrations. I suspect that this trend will actually die out in 2018 as there seem to be way too many coins coming out now and they won't all be able to pump, we're already seeing ICOs recently getting dumped hard the moment they start trading on an exchange.
- The rapid development of altcoin investment: At the beginning of the year the marketcap for altcoins as just $2 billion. By the end of 2017 it grew to over $370 billion. This was the year that investing in cryptos became about more than just Bitcoin. We saw an explosion of new promising altcoins, Binance launched in July, LTC was added to Coinbase and Ethereum really came into its own as a dominant force. I suspect that this focus on altcoins will continue as its now easier than ever to research and obtain them.
- Resilience in the face of regulation: China banned initial coin offerings and bitcoin exchanges in the first weeks of September. The ban caused a precipitous drop in cryptocurrency flows worldwide and invoked panic within me, with Bitcoin going down to almost $3K. However we recovered surprisingly quick. This is why I wasn't too concerned with the recent news that Korea may crack down on exchanges. Cryptocurrencies are decentralized and distributed, and while government actions certainly can hurt the price in the short term, I think any attempts at increased crackdowns will result in a recovery within a few months. Crypto seems to be a lot more resilient than most people realize to laws trying to destroy it, so don't freak out when you hear a story about increased regulation in the Far East.
- Institutional money coming in: We saw the speculation of an ETF not come to fruition, but in December the CME Group and CBOE started trading futures on Bitcoin. The lead up to this event and the subsequent decline and relative stabilization of Bitcoin will lead to a cascade of effects. We now have a genuine price discovery mechanism that will put downward pressure on BTC with its futures contracts. McAfees predictions of a million dollar BTC are not going to come to fruition now that you can short it.
- Chase for the "next bitcoin": Lambo psychosis dominated and continued into the new year with nearly every coin in the top 100 showing a steep parabolic rise. This is actually something a lot of long term investors find deeply troubling, because now people are hungry for crazy x10 gains within a month and that is simply unsustainable.
Some predictions for the year 2018Decline for Bitcoin
I have a long-standing emotional connection to Bitcoin and really do want it to succeed. But by now even the early adopters have come to accept how far away we are from the original vision of the currency. We are now seeing a decrease in adoption among ecommerce sites, which a sad state of affairs. I'm not so confident that Lighning will be enough at this point. Lightning likely wont be here for at least another 1-2 years and the problem will be user adoption. Segwit gave users a 40% discount on fees, and was a relatively simple upgrade, yet its 2018 and only 8% of transactions come from Segwit addresses. LN is way more difficult to implement, so don't expect it to be useful for at least a year after release. Core developers should have followed through with the New York Agreement and increased the blocksize to 2 MB. It's actually much more practical to scale BTC through miners than users, as most miners abide by the rules of a small set of mining pools and use the same software. Segwit2X was doomed to failure but it had 90% support among miners before the campaign against it started, and even after it had over 70% miner support. I think 70% miner support before a fork is vastly better for initiating a change than 8% user support.
Core team really needs to wake up right away and realize that the continual declines in market dominance are a reflection of Bitcoins failure to find utility, and that the first movers advantage and name brand will not last forever. Unless it solves the problem of insane transaction fees, ballooned mempool size, long transaction times and most of the accounts not even being able to afford to move the balance out I don't see BTC doing anything but declining in market dominance.
Ethereum will become an even more dominant force
I can see the long awaited flipening come in 2018. Ethereum already processes way more transactions than anything else, it already is basically THE platform for new coins and powers so much of the entire cryptocurrency ecosystem. The Constantinople fork and Casper Proof-of-Stake changes should take care of the TPS limitations for the next few years, and I expect to see an explosion of dApps in 2018. Ethereum has tons of developer support behind it and POS means people will want to hold it for the long term. Its already become my #1 core/safe-haven position and I think a 3-5K range in 2018 is completely reasonable.
The emergence of transactable business-oriented blockchains
The last few years were about theory and technological innovation, but I think 2018 will be the year that cryptocurrencies finally start to demonstrate value in solving business problems.
Ultimately a cryptocurrency is pointless if it doesn't solve some transactional problem or alleviate some inefficiency in the value-exchange process. There are several sectors/cases for business users that are ripe for blockchain technology: supply chain, settlement layers between intercurrency transactions, payment processing, offloading processing tasks onto blockchains, identity management...etc.
I expect that transactable coins that actually have functionality will be the big winners. ICX, WTC, VEN, NEO, XLM and others that target enterprise-oriented use cases will likely be the focus over the next year.
The rise of a DAG coin as a standard for transfers between exchanges, most likely Raiblocks (XRB)
Lets be perfectly honest: Right now the vast majority of transactions being conducted on the blockchain is simply moving cryptos around various exchanges. Its quite a nerve-wracking process, watching thousands of dollars sitting unconfirmed on the blockchain explorer for hours is not a pleasant experience. If you move your balances a lot you will end up losing substantial money to transfer fees. This is why I can see a light fast DAG becoming a standard for inter-exchange transfers of funds, specifically XRB after it gets listed on Binance. Being a DAG the process of onboarding isn't as simple as just adding another ERC20 coin, but once the Raiblocks team figures this out on Binance I suspect that adoption will follow quickly to other exchanges. The quick transactions speed and no cost will make it the ideal coin to exploit arbitrage between less liquid and more liquid markets.
The rise of "dividend" coins"
The next year should be one where the stretched valuations are questioned, and those coins that pay out a form of dividend and can thus be easily valued will become a safe harbor. NEO, EOS, ARK, VEN,OMG among others should gain favor. We actually saw NEO do particularly well in this recent downturn. I expect to see a lot more also following this dividend payment model.
**The move away ...
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VERY IMPORTANT BEWARE OF BINANCE.AUCTION SNIPING/FAKE SITE- I'm going to try and type this as fast as I can and relate what happened to me last night so the rest of you can protect yourself. At about 11:44 PM last night (1/8/2018) I tried logging into binance.com to check my account. I was a bit distracted as I was looking as crypto tracker on my phone and logging in on my PC at the same time ... Binance cryptocurrency exchange - We operate the worlds biggest bitcoin exchange and altcoin crypto exchange in the world by volume Binance users can now buy Bitcoin with practically all of the fiat currencies in existence; Binance, which is one of the leading cryptocurrency exchanges in the world, has partnered with the peer-to-peer crypto exchange Paxful. Via this partnership, Binance users can now use 167 different fiat currencies to buy Bitcoin. Only Bitcoin and Binance Coin Will be Accepted. The real estate to be auctioned is a futuristically-designed house at 1 Beech Lane, Casuarina, in northern Australia. The on-site auction, scheduled on Apr 8, 2019, will be live streamed, and open to bidders from across the world. James Pratt Auctions & Advisory services, the auctioneer to be overseeing the process, has confirmed that only ... CZ Tweets About First On-site Building Auction . Changpeng Zhao (CZ) on March 10 tweeted that the world’s first live real estate aunction is accepting Bitcoin and Binance coin. The CEO also stated that the building is not owned by the Malta-based exchange, but he only likes the structure after seeing its advert page. The world's first live property auction using cryptocurrency streaming ... Binance Smart Chain’s Jointer Offers Lucrative Daily Auctions for JNTR. By. Amaury Reynolds - October 15, 2020. 0. Facebook. Twitter. Pinterest . WhatsApp. Linkedin. ReddIt. Telegram. Jointer continues its successful streak in the world of commercial real estate-backed DeFi. Today’s Daily Auction has only just kicked off, and the ROI for JNTR has increased even further. It is still early ... Binance has partnered with James Pratt Auctions and NuYen Exchange to launch the world’s first live property auction using cryptocurrencies. The buyer Trade over 40 cryptocurrencies and enjoy the lowest trading fees in America.
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