- Could the 0x-Protocol replace Crypto Exchange Markets?
- Blockchain Day in Berlin!
- St. Petersburg BTC ATM removed!
- New Coins on the Block OmiseGo (OMG)!
No matter whether ICO or Token-Sale - for the purchase and sale of Tokens, so far no way passed by exchange markets such as Kraken or Bittrex. With 0x this could change now. The decentralized protocol bypasses exchanges and their charges.
Nearly all major token sales like those of Tenx, Bancor, EOS, or Tezos of the past few months rely on ERC20 tokens that are based on the Ethereum blockchain. One of the problems of ERC20 tokens has so far been the fact that not every exchange market also allows trading with each token. Even large exchanges like Bittrex only carry a selection of the most famous tokens. Another problem arises from the fact that many new tokens can be traded on the exchange markets only weeks or months after their introduction.
If you do not want to invest on an exchange, you can now trade your tokens directly and without charges with other investors. One of the solutions for this is called 0x Over-the-Counter (OTC) and is now live.
Under the bar, 0x OTC allows two parties to exchange tokens that are based on the ERC20 standard, without having to resort to a centralized exchange. Investors can generate their own orders and sign them cryptographically. The orders can then be placed independently of the blockchain. This means that a vendor can communicate a sales order using conventional channels (for example, in a forum or via Twitter) and agree with an interested buyer regarding the sales price. The order itself is then executed directly on the blockchain.
0x OTC is not restricted to ERC20 tokens, but users can also include Augur Token, Melonport, Chronobank, Golem Network and other tokens.
The 0x Protocol Token ZRX serves two purposes. On the one hand, it is useful for coordination and is intended to promote networking effects in terms of liquidity and feedback loop, so that early investors and users of the protocol benefit from further dissemination. On the other hand, the token is the decentralized control of the protocol and the payment of transaction fees. So, if you are using tokens with 0x, you pay the transaction costs instead of in ETH in ZRX.
After the token sale of 0x, ZRX tokens can now be purchased on some exchanges such as Liqui.io. Currently, the price of ZRX is developing positively, so that particularly participants in the token sale as well as early buyers can look forward to a decent increase in value.
Decentralized trading of each token could have a major impact on the entire market. Since 0x is only a protocol, it is, on its own, much more user-friendly than the various exchanges, all of which offer a GUI.
Because 0x is just a protocol, users need a GUI for easy trading, as is the Chrome extension Metamask. (Picture: Metamask)
However, if the protocol is combined with a wallet solution such as Metamask, this supposed disadvantage dissolves in air. Metamask is a Chrome extension that is more than just a simple wallet. Users can directly access the Ethereum blockchain and corresponding decentralized apps (dApps) directly from the browser. 0x can, of course, also be combined with similar solutions, so that the use of the decentralized trading protocol can be linked to a GUI.
0x has only been available for a few days, but an exciting future for the protocol is already apparent. After all, the potential is obvious because 0x could decentralize ERC20 tokens even further. The idea has already convinced some well-known names. For instance, Augur co-founder Joey Krug and Coinbase co-founder Fred Ehrsam are among the investors.
Other companies are also working on decentralized trading venues, which in future could make the life difficult for exchange markets such as Kraken or Gdax . Among the direct competitors of the 0x protocol are Oasis Dex, Ether Delta, but also Shapeshift.
The topics of artificial intelligence (AI) and blockchain technology will be the focus of the Solarpraxis conference "Digitale Energiewelt 2017", which will be held in Berlin on 5 and 6 September. We will discuss how the new digital possibilities, which are already changing our way of life, can be used profitably in the future in energy generation. Strategies and business models will be developed to enable Germany and its companies to remain a pioneer in the world.
In the context of the Digital Energy Conference, the Blockchain-day will be a prominent position on Tuesday, September 5, and will be the start of the event. First, the questions are: Has the blockchain arrived in the energy field? Is it only a temporary phenomenon or is the technology capable of effectively changing the energy world? What possible role can blockchain play in the digital energy market of the future?
The following topics of the day are: The right and security of the blockchains as well as business models on the blockchain. There will be lectures and discussions on both topics. Blockchain currency in the energy industry in this discussion is to clarify whether blockchain-based currencies such as Bitcoin or Grünstrom-Jeton can be a real and serious alternative for payment transactions in the energy industry.
The Digital Energy Conference 2017 will take place at:
It is possible to purchase a standard ticket for the entire two-day digital energy conference or a day ticket for the blockchain day.
Links to the Events + Tickets:
Event Digital Energy World (05./06.09.17)
Blockchain day for the energy world (05.09.17)
The operator Bitlish is silent about the details of the operation. It is becoming increasingly difficult for crypto users to acquire bitcoins from ATMs.
The two Bitcoin machines, which had been found in St.Petersburg since February, have disappeared a short time ago. At the request of Cointelegraph, the operator Bitlish was not able to give more precise information on the reasons for this step. The answer was that the partner had decided to remove both machines again. Bitlish has also been unable to provide any information on whether it is expected that the vending machines will be resubmitted in the near future.
Russia has been planning to build its own state digital currency for some time. To this end, the state and the central bank want to deal intensively with the blockchain technology, which is to be used as the basis. The Bank of Russia is also working on a tightening of regulations for already existing crypto currencies, in particular Bitcoin. This relationship can be seen as a point of reference which points to the removal of Bitcoin ATM in St.Petersburg.
On the other hand, the regulation in Russia was still very mixed and therefore very unclear. Crypto users are often confronted with local prohibitions. The government plans to publish a guide for the business of crypto currencies next year.
OmiseGo is on the verge of entering the Top Ten - what's the deal with this asset?
Those who look regularly at Coinmarketcap.com may already have noticed: with OmiseGo, a new asset has been in existence for about a month. Since the 15th of July, the price has risen by more than 1200% - you wonder what OmiseGo is all about.
OmiseGo is a project of the company Omise, a VC-supported company in the fintech / payment sector from Asia. There it is not an unknown startup and was already featured in the Thai Forbes.
OmiseGo is based on the "Be your own Bank" approach, which is known from the Bitcoin scene. Based on Ethereum, a decentralized exchange or generally a decentralized payment network is to be developed. In addition to ERC20 tokens, Bitcoin, other Crypto and Fiat currencies as well as other assets can be traded. Thus, people who do not have access to the classic banking system are also to receive appropriate services and functions via OmiseGo and related wallets.
An OmiseGO block that is still to be developed, which will continue to be connected to the Ethereum network, will then enable the user to perform various types of payments over the network. This allows a high degree of decentralization.
One feels here quickly reminded of Ripple, the gateway system of this payment network offers the possibility to exchange value systems between different chains or between Fiat and Ripple values. Here, the team at OmiseGo sees the risk that the validator responsible for the gateways will always remain the same - so that a centralization is created. It is also criticized that ripple as a third party becomes necessary for transactions where the source and target set are not ripples. Finally, the back of Ripple is not a public permission less ledger, but the team behind OmiseGo is important.
The OmiseGo approach is strongly linked to the blockchain being developed. This maintains the current state of assets that the owner of an eWallet - often referred to as digital wallet - outside of the whitepaper - stores in the same. This eWallet is not only the portal with which your own investments are managed, but also the gateway to the discrete exchange. The engine that organizes decentralized trading is strongly linked to the OmiseGo blockchain. On this, the buy and sell orders are also stored. A trade is realized when a trading group from buy and sell orders could have several confirmations on the blockchain.
Fiat is used to trade Fiat with Fiat Token. One problem with this is that Fiat currencies do not exist on the OmiseGo or other blockchains. This requires a decentralized clearing house, which ensures liquidity, which is necessary especially when exchanging between different Fiat currencies. This should also be implemented decentralized by storing capital in an Ethereum Smart Contract, which is intended to guarantee liquidity. In addition, the prospect of creating a basis for clearing houses based on bitcoin is also a prospect. The capital stored in this SmartContract is released again after finalizing a payment.
With such mechanisms, OmiseGo also wants to create a kind of lightning network by initiating transactions on other blockchains such as the Bitcoin Blockchain. In this regard, OmiseGo reminds a little of the side chain concepts of Blockstream and others.
Even if OmiseGo wants to keep the transaction fees low, the effort has to somehow be compensated. Thus, as with other crypto currencies, there will be transaction fees distributed to token holders. These token holders participate in a proof-of-stake-based consensus mechanism.
OmiseGo has just finished the Crodsale and is still being developed. In the fourth quarter, the team behind the project hopes to launch the OmiseGo Blockchain. The project can be seen in the Advisory Board, such as Vitalik Buterin, Vlad Zamfir or Gavin Wood.
Overall a very interesting project, which should be pursued further. For further information please refer to the website and the white paper.
