Bitcoin’s Dramatic Ratings Drop, Plus Ripple and XRP, EOS, Tron, Ethereum, OmiseGO: Crypto News Alert
From China’s outlook on Bitcoin and cryptocurrency to a new addition on Coinbase, here’s a look at some of the stories breaking in the world of crypto.
EOS, Ethereum, XRP, Bitcoin
China just released its latest crypto ratings index.
EOS and Ethereum remain in first and second place, respectively. Meanwhile, Bitcoin has fallen from 13th place all the way down to 19th since the publication of the country’s official crypto rankings in May.
The big surprise in the new rankings is XRP, which has surged into the top 10. XRP is now in 7th, after sitting at 15th place in September.
China strongly supports blockchain, but has had a tumultuous relationship with cryptocurrency since announcing an all-out ban on crypto last year. In a ray of hope, the Shenzhen Court of International Arbitration recently ruled that Bitcoin has economic value, and should be legally protected as property.
In a new interview with Forbes, Ripple’s senior VP of marketing and communications Monica Long says the current speed of cross-border payments is pushing the adoption of crypto and blockchain technology.
“Moving money from one country to another can be extremely costly and time-consuming. Your money can be in limbo for up to five days, which is absurd when a business could be putting that capital to work.
This friction in cross-border payments has driven enterprises to be some of the biggest champions of blockchain technology and digital assets. For example, these individuals are asking their banks to look into this realm as a solution to their problems. This is beneficial for smaller businesses who pay suppliers in other countries and have tight margins. By utilizing this technology, these mom and pop stores can help to reduce their costs and speed up the time it takes to move money.”
Tron has now paid out more than $75,000 to developers who identified and reported bugs on the Tron blockchain.
According to HackerOne, the average payout is between $3,000 – $4,000.
Basic Attention Token
Leading US crypto exchange Coinbase has added support for BAT tokens on Coinbase Pro. BAT is the cryptocurrency of startup browser Brave, an alternative to Google Chrome. BAT support will roll out in four phases: transfer-only, post-only for limit orders, limit-only for matching orders and full trading. Platform support does not include retail trading at coinbase.com, iOS or Android apps.
Deposits are already available, and trading is expected to launch as soon as “sufficient liquidity is established.”
The first decentralized app on OmiseGO just launched its proof-of-concept.
The game is called Plasma Dog and utilizes OmiseGO’s Plasma testnet, a layer 2 solution designed to dramatically increase blockchain scalability.
We’re happy to announce that @hoardexchange is the first to build on our internal testnet. Their game demonstrates just one of the many use-cases for the OMG Network and Plasma’s potential. Read all about how it works! https://t.co/u1iSg5IE1A #OMG #Plasma #blockchain #OmiseGO https://t.co/nmn8Jv3sqg
— OmiseGO (@omise_go) November 1, 2018