Crypto News Flash: Bitcoin (BTC), Ripple and XRP, Ethereum (ETH), VeChain (VET), NEO
From a Bitcoin flash crash to the big debate on crypto decentralization, here’s a look at some of the stories breaking in the world of crypto.
A flash crash has dragged the price of Bitcoin down more than 4% at time of publishing, taking the vast majority of altcoins along with it. The drop follows a rough day in the US stock market, with the Dow losing 3%.
Bitcoin is currently $6,282, according to the latest data on CoinMarketCap. The overall market cap of all cryptocurrencies is down about 8%, and currently stands at around $201 billion.
A new platform designed to monitor specific addresses on Ethereum has officially launched.
Ethwatch.io is designed to give crypto hodlers the power to “monitor honey pots, cold storage, hot wallets, and smart contracts.” The platform features text and Email alerts for those who want to monitor activity on the go.
Ripple and XRP
Ripple CTO David Schwartz is expanding on his recent article that details why he believes XRP is becoming more decentralized, while Bitcoin’s proof-of-work algorithm is pushing BTC toward centralization.
According to Schwartz, the metrics that give Bitcoin and by extension all cryptocurrencies value are the network effect, scarcity, stability and participation.
Not really intrinsic value but utility from network effects, assured scarcity, operational stability and the ability for every participant in the system to enforce most of the system's rules.
— David Schwartz (@JoelKatz) October 10, 2018
A gaming company in China says it’s building a decentralized gaming ecosystem on the NEO platform.
Magic Cube is already in the gaming space, with 23 games live and under development, according to Neo News Today.
Magic Cube (@MC__Foundation) is planning to build a decentralized gaming and entertainment ecosystem on $NEO. The company currently has 23 games live and in development, with an average monthly active user rate of 150,000 users per game. https://t.co/AH0tWRLmmf
— NEO News (@NEOnewstoday) October 9, 2018
VeChain is introducing a new video series to help people learn about the platform.
The ‘Technical Deep Dive Series’ is designed to “devote resources into providing the tools, documentation, and support that the community needs to walk hand in hand with us, bringing this technology to the forefront.”