Crypto News: Bitcoin Private, Raiden, Bakkt, Genesis Vision, Stratis, Ripple (end of December)
Bitcoin Private was premined
On 23rd of December Coinmetrics report has revealed that over 2 million Bitcoin Private tokens (BTCP) were premined, breaking the 21 million supply cap that was promised with a total supply of 23 million.
Bitcoin Private (BTCP), a fork-merge of Bitcoin and ZClassic, a cryptocurrency with privacy features, which itself was a fork of Zcash. A fork-merge combines two existing blockchains into a single chain.
On the BTCP website it was stated that there won’t be any premine or founder’s reward however in the detailed report Coinmetrics shows that there were in fact extra tokens created that were sold and could have netted a profit on the order of $1M to $3M.
The BTCP team responded that it indeed happened but it was exploit and they don’t know who did it and are investigaing/trying to fix it. Since then the list of team members dissapeared from the website.
Raiden Network Red Eyes
On 21st of December it was annouced that the Raiden Network Red Eyes release was released on the Ethereum mainnet. The Raiden Network management stressed that this version is a test only and that the final version isn’t production-ready.
Red Eyes is the first version of the Raiden Network to exist on the Ethereum platform and aims to have “smart contracts and the core protocol battle tested on the mainnet.” Some of the new features announced on the version are:
Opening, topping up, closing and settling of payment channels
Raiden Explorer, visualizing the live status of the Network
and other smaller improvements
Raiden is aiming to fix the scalability issues on Ethereum and also include other improvements. The RDN token is around 200th place with price around $0.25.
Genesis Vision Forex Launched
On 26th of December Genesis Vision managers have annouced that Genesis Vision managers will be granted access to the Forex trading.
Forex stands for The foreign exchange market which is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines the foreign exchange rate. It includes all aspects of buying, selling and exchanging currencies at current or determined prices.
This is being provided by s being powered by Just2Trade Online Ltd — a heavily regulated Forex broker. Genesis Vision managers can create accounts, which provide access to no less than 53 Forex instruments, three different types of precious metals, cryptos and few other options. Genesis Vision GVT token is around 145th place with price of over $4.
On 27th of December Stratis has annouced release of Stratis Sidechains and Smart Contracts in C#. As part of this release, Stratis has launched the Cirrus sidechain that supports smart contracts.
Stratis is providing a service of blockchains for business processes with the aim of reducing the complexity of blockchain adoption and implementation. They aim to provide blockchains for companies and businesses.
The new sidechain has its own tokens, CRS, which are used for transacting on the sidechain, and provide gas for running smart contracts. CRS are pegged to STRAT at a 1:1 ratio.
This is a major release for Stratis and one that could lead to price recovery since it has been struggling when compared to competition. It’s around 40th place with current price of around $1.20
Binance Adds Ripple trading pairs
On 25th of December Binance has annouced the addition of XRP as a trading pair which means it will now be utilized as a primary assets that can be used in purchasing other digital assets listed on the platform.
It’s significant since significant as it marks the first time the token has been added as a primary assets by a major Crypto exchange. The pairs that have been rolled out are the Tron trading pair (TRX/XRP) and the Zcoin trading pair (XZC/XRP).
Despite that using Ripple as market is a good sign since the more coins are not connected to Bitcoin the better.
Bakkt first capital raise completed
On 31st of December Bakkt have annouced that they completed their first round of funding of $182.5 million from 12 partners. Some of the partners include: Boston Consulting Group, Goldfinch Partners, Horizons Ventures, Intercontinental Exchange, Microsoft’s venture capital arm, Pantera Capital, PayU and Protocol Ventures.
Bakkt is still targeting the release for 24th of January with Bitcoin being the first available asset and more potential cryptocurrencies coming in the future.
They are aiming to provide new infrastructure, including the industry’s first institutional grade regulated exchange, clearing and warehousing services for physical delivery and storage. As well as providing real life usage for cryptocurrencies in the future
They are currently waiting for the approval of the trading applications but the future of Bakkt looks great.
Not a financial advice.