How to Deposit vite from Wallet to Market for Trading

• First open the web wallet or click => https://wallet.vite.net/startLogin
• After that, import your wallet or use Viteconnect
  
• Login according to the password you have created
  
• After successfully logging directly into the wallet menu
  
• Click the deposit to send vite to the market
  
• If prompted to enter a password then enter the password that you previously created when importing / entering the wallet
• Enter the number of vite you want to sell / trade then click Deposit
  
• After that, return to the trading / market menu
  
• Happy trading
  

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How to withdraw assets from Market to Wallet

• First step into your wallet the steps as above
• Just go to the wallet menu and click Withdraw on the part of the asset you want to withdraw to the wallet
  
  
• If it's finished, the balance you withdraw will enter your wallet like the column I marked below
  
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How to Withdraw ETH, BTC or USDT from Wallet vite to your personal Wallet

• First enter your wallet the steps are the same as above
• Select the transfer menu in the section I marked as below
  
• After that enter the amount you want to send and click Cross-Chain Transfer
  
• When it's finished, you only need to wait to enter your wallet.

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Thus, if you are still confused, please leave a question.

Cara Mudah Membuat Wallet atau Dompet Vite Melalui Website - Pertama kalinya saya membuat artikel disini, pada kesempatan kali ini saya akan membagikan sedikit tutorial cara mudah membuat wallet vite melalui website.

Baik, untuk caranya silahkan disimak dibawah ini :

• Pertama silahkan kunjungi website wallet vite atau bisa Klik Disini
  Maka akan muncul tampilan seperti di bawah ini
  

• Setelah itu kalian isi Username(tanpa spasi) pada kolom pertama dan isi Password pada kolom kedua dan ketiga. Jika sudah klik tombol Next Step
  Lihat contohnya pada gambar di bawah ini
  

• Sesudah klik Next Step seperti gambar di atas maka akan muncul seperti gambar di bawah ini, nah pada gambar di bawah ini adalah menampilkan data Backup Seed Phrase gunanya untuk membuka wallet vite anda saat anda membukanya di komputer/browser lain ataupun di aplikasi vite sendiri jadi wajib kalian copy dan simpan namun username dan password yang telah anda daftarkan juga tetap harus disimpan.
  Untuk tombol copy data Seed Phrase nya sudah saya tandai panah seperti contoh gambar dibawah ini, dan jika sudah kalian simpan semua langkah terakhir klik tombol Done
  

• Jika langkah diatas sudah selesai maka anda tinggal login dengan memasukkan password yang sudah kalian daftarkan sebelumnya dan klik tombol Login
  

• Sesudah login kalian akan di bawah kehalaman seperti dibawah ini dimana kalian bisa melihat data address vite kalian untuk menerima token vite dan juga kalian bisa bertransaksi yakni mengirim token vite jika kalian memilikinya.
  

Baik, saya kira tutorial cara membuat wallet vite melalui website diatas sudah selesai. Apabila ada hal yang masih belum paham kalian bisa komen di bawah dan saya akan menjawabnya ketika saya online

Terimakasih.

@Aspas the vite you stake will be frozen for 3 days. then after 3 days you can withdraw it.

Mengapa VITE Di Dalam Dompet Tidak Dapat Di Perdagangkan? Dari beberapa kalangan penggemar vite banyak yang bertanya Mengapa VITE Tidak Dapat Di Perdagangkan. Nah untuk artikel hari ini saya akan membahas tentang vite yang tidak bisa di perdagangkan tersebut.

Untuk saat ini vite memiliki dua jenis yakini :

• Koin Asli
  koin ini diberi label "VITE" dengan subtitle "Vite Coin". Anda dapat memperoleh koin-koin ini ketika Anda berpartisipasi dalam hadiah Airdrop harian, kampanye atau game High Roller dApp.
• Vite ERC20
  vite erc20 ini di labeli sebagai "VITE" dengan subtitle "ERC20 Token". vite dengan jenis erc20 ini yang saat ini dapat di perjual belikan di market

Lalu mengapa ada 2 Jenis vite? Yakni vite asli dan vite erc20
karena ketika Vite pertama kali didirikan, mereka mengeluarkan token VITE ERC20 di jaringan Ethereum. Namun, dengan peluncuran Vite TestNet pada November 2018, mereka merilis pembaruan dompet Vite dengan opsi untuk memigrasi token VITE ERC20 ke token asli VITE dengan rasio 1:1.

"Anda dapat memperdagangkan token VITE ERC20 pada pertukaran yang didukung ERC20. Setelah ViteX MainNet hidup (Q3 2019), kami akan mulai mengonversi semua token VITE ERC20 menjadi koin asli VITE"

Dari pernyataan tersebut berarti hanya untuk pengguna yang memiliki vite jenis erc20 yang dapat di perdagangkan. Sedangkan bagi pengguna yang menyimpan koin vite asli yang ada di dalam aplikasi/wallet harus menunggu mainnet pada Q3 2019 untuk bisa memperjual belikan koin tersebut.

Market Vite :
+Okex
+Hotbit
+Bilaxy
+Bittrex
+Upbit
+Idex

Download Aplikasi/Wallet
+Android
+iOs

Sekian informasi dari saya tentang Mengapa VITE Di Dalam Dompet Tidak Dapat Di Perdagangkan?. Jika ada yang perlu di pertanyakan silahkan tinggalkan komentar.
Terimakasih

@Aspas haha .. have a nice day

@raysiddun You can unstake at any time, but your VX will be frozen for 7 days and then it will go into your wallet automatic

Twitter Thinks Ethereum Is King

Throughout its life, Ethereum has always had a funny relationship with Twitter. When you browse tweets, it seems that Ethereum always comes out on top when it comes to hot talking points. The hashtag #ethereum and other variations of the tag are ever common. Prolific figures within Ethereum like it’s founder, Vitalik Buterin are often some of the most outspoken on Twitter also.

Ethereum has always been on fire, trending within tweets and standing out as a community favourite, though we can’t ignore a big part of why this might be the case, a surge in ‘Ethereum giveaways’ on Twitter in the wake of the 2017 bull run seemed to have huge impact on the popularity of Ethereum as a cryptocurrency. Twitter was used as a platform to run marketing based competitions that encouraged Twitter users to tweet, re-tweet, follow and generally engage with prolific Twitter users in order to take part in Ethereum giveaways. The premise is that a Twitter influencer would ask the community to re-tweet a tweet in order to enter a competition to win a portion of Ethereum. Prizes varied and as did the requirements for entrance.

These giveaways started to become more frequent and began to attract bad actors. Fake giveaways would be set up in order to phish personal data and even gain access to people’s cryptocurrency wallets, because yes, people were so invested in these giveaways, they would be willing to give up their private key. Fake accounts pretending to be the likes of Vitalik Buterin and even Elon Musk made these scams far more realistic.

Even so, with all this behind us, Twitter still think Ethereum is king, according to Ethereum World News, many people on Twitter, within the Ethereum community strongly believe that their beloved cryptocurrency will be trading above $1,000.00 again soon:

“Ethereum bulls seem to still be holding onto hope. Analyst Nik Patel recently hosted a poll through his Twitter feed, asking Crypto Twitter if they believe that ETH will ever trade above $1,000 ever again. Interestingly, out of the 4,000-odd respondents, a good majority (70% of eligible answers), claimed that they believe that the cryptocurrency will one day enter the four-digit price range once again.”

The outlook is starting to look a little more positive, Ethereum bulls have noticed some similarities between recent price hikes, and the success of Ethereum in 2017:

“Also, a number of analysts have begun to observe that Ethereum may soon rally hard against Bitcoin, as a fractal is starting to play out. Popular industry analyst Galaxy recently pointed out that the ETH/BTC chart currently looks as it did prior to 2017’s absolute explosion, during which the asset rallied to over 0.1 BTC.”

54 Million XRP Tokens Sold Off Last Month By The Co-Founder Of Ripple, Jed McCaleb

Reports serviced earlier this week saying that the co-founder of the San Francisco-based technology company ripple, Jed McCaleb has sold off at least 54 million XRP tokens between the 1st of April and the 30th of April.

Based on data from the cofounders known addresses, the McCaleb seems to be liquidating his supply of the XRP tokens on a regular basis. Data shows that the wallet addresses allegedly used by McCaleb to sell XRP received an average of 1.8 million tokens daily throughout last month.

Before we go any further though, it’s worth saying that we aren’t financial investors and this isn’t financial advice. Please do your own research before putting your money in a cryptocurrency and always remember to trade safe!

Jed is one of the more prominent figures in the cryptocurrency industry. He created the infamous Mt. Gox platform and even co-founded the Stellar network.

This massive supply of tokens has led to a significant round of controversy in regards to the co-founder when he announced his intention to sell a portion of his tokens. After a long time of negotiations, a seven-year agreement with Ripple limited his monthly and annual sales of the XRP token.

@NRZ yes, ViteLabs

@Aspas You can revoke any time after due date by manually unstake with web wallet and a PC.
Go import account with mnemonic words > quota management > withdraw.
https://wallet.vite.net

Stablecoins Held On Exchanges Reach $10 Billion - Is There Another Bull Run On The Way?

Stablecoins have reached an all time high across exchanges, according to a report published by an analytics provider. In the report by Crypto Quant, stablecoin holdings across exchanges have hit an all time high, with the total amount of coins reaching $10 billion over the past few months.

These pegged digital currencies arose as a solution to the volatility of cryptocurrencies and rose to prominence in 2018 during a bearish year. Their value is pegged to fiat currencies which reduces the volatility to that of existing currencies such as US dollars, Pound Sterling, or the Euro.

Stablecoins were initially used as a way to exit positions in volatile cryptocurrencies without the inconvenience of converting back to fiat. However the applications of stablecoins has expanded into many potential areas such as e-commerce, banking back-ends, and potentially undergirding credit cards.

While Tether's USDT is the dominant stablecoin on the market at the moment, there are three key players; Tether, Circle’s USDC, and Binance dollar, totalling over $54 billion in market cap. The increase in stablecoins that are currently sitting on exchanges could signify a potential bull run as holders prepare to invest in more crypto assets, and could send the markets racing upwards.

The sharp uptick of stablecoins in early 2021 could be a sign that there is going to be another bullrun, and is also an expression of how recent corporate activity has influenced the space. With the US Treasury OCC (Office of the Comptroller of the Currency) recently publishing new guidelines for banks to use public blockchains and stablecoins, it seems that banks are preparing to get involved with stablecoins.

Banks could decide to create their own stablecoins, as we have seen with many world banks trialling central bank digital currencies (CBDC), as a response to threats from digital currencies And in 2019 JP Morgan introduced its stablecoin JPM Coin.

Once a tool to provide cryptocurrency traders with a quick exit strategy, stablecoins have evolved and have begun to be adopted by mainstream corporate finance. Stablecoins are viewed favourably by regulatory bodies, compared to other cryptocurrencies, and they are quickly being viewed as a potential digital currency for governments across the world.

The Effects Of Rampant Misinformation In The Crypto Ecosystem

Anthony Sassano, Product Marketing Manager at Set Protocol, Co-Founder of EthHub, and Founder of The Daily Gwei, tweeted a thread about how a cloud of noise and misinformation surrounds the crypto topic. He said,

"Information asymmetry in the crypto ecosystem is your superpower if you know how to take advantage of it. What do I mean by this? Well, because there's so much noise and misinformation, people are often misled for months or even years about different projects."

Issues That Misinformation Breeds
Sassano states that due to this information's asymmetric distribution, most new fundamental developments in crypto fail to be "priced in." It is hard to believe that even prevalent assets such as EIP-1559 and Ethereum PoS are not priced in yet.

People tend to get stuck in echo chambers and not be aware of fundamental developments that different projects undergo. This is why token prices for specific projects stay flats for a long time (months or years) until the market notices it someday.

Another issue is that people may be aware of a fundamental development but tend to think it is inconsequential due to not understanding its full potential. Sassano believes this applies perfectly to Ethereum's monetary policy.

How Can You Make The Best Of This Misinformation?
As per Sassano, people can take advantage of information asymmetry. He states that people should get out of the echo chambers; be open to everything within reason; Invest time to research everything and learn as much as possible; and finally, place bets when others are not even aware of something.

These tips might not always work, as the crypto space has plenty of complex projects with a massive following, allowing those projects to pump up in volume. But eventually, it's the investor's job to sift through the garbage to find diamonds, states Sassano.

The Sassano Method Of Weighing Information
The way Sassano approaches it is by looking at who is interested in the project. If some of the smartest people he knows are interested in it and don't have an ulterior motive, then it's a good indicator if something is legitimate. This approach has informed almost all of his long-term investment decisions.

Sassano further adds,

"You also have to not get spooked out of your investments based on FUD or perceived "bearish" developments. Example: Optimism delayed so people turn bearish on ETH. Reality: There are plenty of other L2 solutions live/going live and ETH is bullish for many other reasons."

Another critical rule that Sassano emphasizes is not listening to negative people as they're pure noise most of the time or trying to mislead an interested investor. Finding the right people with good information can be tricky as it takes time, but he believes that the best time to start looking is today.

Sassano ended his thread saying,

"Investing is a game and the only way you get better at it is to practice - don't get depressed if you make the wrong decision - learn from it and level up."

Argo Blockchain Announces The World's First Green Bitcoin Mining Pool

Argo Blockchain has signed a deal with DMG Blockchain solutions to collaborate on the first green Bitcoin mining pool powered by green energy.

The plan by the two PLCs to create a sustainable way of mining blockchain comes on the back of a great deal of scrutiny that Bitcoin has faced by the environmental community due to the vast amounts of energy Bitcoin mining requires. Argo blockchain announced that it is “aiming to create a green Bitcoin” to reduce the impact of Bitcoin mining on the environment.

Under the terms of the deal, Argo and DMG will combine their capabilities to create Terra Pool,"the first bitcoin mining pool powered exclusively by clean energy" using hydroelectric power as its main source of renewable energy.

Argo Chief Executive Peter Wall commented on how the collaboration is a step towards addressing the issue of climate change:

"Addressing climate change is a priority for Argo and partnering with DMG to create the first 'green' Bitcoin mining pool is an important step towards protecting our planet now and for generations to come. We are hopeful other companies within the Bitcoin mining industry follow in our footsteps to demonstrate broader climate consciousness"

With Bitcoin in the spotlight, the environmental impact of this cryptocurrency has also received scrutiny. The Bank of America recently reported that Tesla’s investment in Bitcoin has a carbon footprint equivalent to the annual emissions of 1.8m cars, and other reports have estimated the carbon footprint of Bitcoin mining is equivalent to the carbon footprint of small countries.

Critics of cryptocurrencies have highlighted the environmental factors as a cause for concern. Chinese Bitcoin mining in particular is responsible for over 70% of Bitcoin mining, fueled by high-polluting industrial coal power plants.

With the spotlight on cryptocurrencies, the need to address the environmental impact of Bitcoin and other cryptocurrencies has never been more pressing.

Bitcoin Price Goes Up But So Does Its Use Of Resources

The price of Bitcoin is continuing to rise (dips and corrections aside) and it is easily the most successful asset over the last decade. However, as the price goes up so does the amount of energy required to run the mining rigs across the globe.

Maybe it’s due to its fundamentals, or maybe it's just that there aren't really any other assets to buy that give such a good hedge against the present failures of the economic system. Whatever it may be, Bitcoin is the stand-out asset of these times and its success looks to continue, at least into the medium term.

However, all is not rosy in the garden of the king of the cryptocurrencies. Unlike other financial assets, Bitcoin uses a vast amount of resources, and this increase in energy consumption goes up as the price goes up.

In the Bitcoin system, transactions are logged and verified by a network of miners. These miners compete against each other by trying to be the first to work out the answer to a complex algorithm. The first miner to guess the answer receives the reward of newly minted bitcoin.

This sounds like a mathematical game, but in order to play the game you need to have state of the art mining rigs, and lots of them, in order to have any chance of winning. The mining rigs are actually incredibly powerful, energy intensive computers, and as the Bitcoin price rises, so does the amount of electricity needed to power these machines.

Due to the global spread of miners, it’s very difficult to get a handle on how much electricity is being used, but according to the cryptocurrency tracking site Digiconomist:

“The record-breaking surge in Bitcoin price at the start of 2021 may result in the network consuming as much energy as all data centers globally, with an associated carbon footprint matching London’s footprint size.”

If we take gold as a comparison, we can see that gold annual emissions related to gold mining, are estimated to be at around 81 million metric tons of CO2. The current bitcoin consumed energy could result in 90.2 million metric tons of CO2. If we take the gold market cap as $10 trillion, then it is around 10 times bigger than that of bitcoin.

Therefore, we can see that Bitcoin is far more energy intensive than its ‘store of value’ competitor, and this comparison will only get worse as the bitcoin price rises and uses even more resources.

Is the answer a switch from proof-of-work to a proof-of-stake system, just as is happening with Ethereum? This would certainly curb Bitcoin’s power-hungry consumption drastically as miners were replaced by validators. However, detractors would argue that this would lead us down a more centralised road.

Bitcoin’s various advantages will have to be weighed against the consumption of more and more precious resources. Could this be what finally puts the brakes on Bitcoin?

Nanchang Public Security Cracks Elaborate Scheme In Crypto Racket

Chinese blockchain journalist Colin Wu (@WuBlockchain) tweeted a piece of alarming news. User information from Chinese cryptocurrency exchanges was leaked, leading to the first large-scale cryptocurrency theft case in the Jiangxi Province.

His tweet said China had arrested six suspects who used hacking software to steal user information from the crypto exchange. He further added:

"It shows that the personal information of users of Chinese cryptocurrency exchanges has been leaked very seriously, and a large amount of user information is sold online."

No Connection Between Victim And Suspect
On February 23rd, the victim, Huang, suddenly discovered that his mobile phone number was reported as lost. Soon after, he found that the cryptocurrency tied to the phone number had disappeared. The virtual currency was worth ~RMB 14.5 million in bitcoin and radar coins.

Huang reported the crime on February 26th, and the Qingyunpu Branch quickly filed a case for investigation. The suspect, Deng, did not contact Huang, neither had they shared any contact information. So how did the suspect steal the highly secure cryptocurrency without any trace of the crime?

Case Sees Breakthrough In 12 Hours
The task force's anti-fraud police made extensive visits to hotels and cell phone operators, investigating their records and data. The investigation revealed that five men and women of Lianyungang, Jiangsu, drove to Nanchang with forged documents.

These preliminary clues helped the task force combine operations with all relevant departments to successfully narrow the suspects' information. It took the task force less than 12 hours to lock this information and achieve a breakthrough.

Deng's associate used the forged documents to claim the loss of phones used by the victims. Once the victims' mobile phone cards were reissued, Deng and his associates used them to receive the login verification code for accessing the crypto platform to steal the tokens on it.

Hacking Technology Used To Steal User Information
The task force seized more than RMB 1.4 million in cash from Deng's home, as well as a large number of mobile phones, computers, and various forged documents used for crimes. The other suspects were captured over the next couple of days.

Deng used purchased hacking technology to steal user information from the cryptocurrency platform's back-end. He then hired the others to pretend to be the victims, using the forged documents. Once they obtained the reissued mobile cards, getting the verification code and logging into the platform to transfer the cryptocurrency was a breeze.

Based on the preliminary investigation and evidence, the task force dug out the cybercrime gang, ending the particular criminal enterprise and solving the cybercrime. Six suspects have been detained as per the law, and the case is pending further trial.

Vite Bi-weekly Report Mar 1–15, 2021

Project Updates

Vite Labs CEO Delivers New Info on Vite 2.0 in Recent Letter to the Community
On March 9th, Vite Labs CEO Chunming (Charles) Liu issued a letter to the community with more details about Vite 2.0. In the letter, Charles shared four key “to-do’s” which include: building connections with other blockchains through ViteBridge, improving Vite’s capability with other blockchain tech stack, supporting more blockchains through Vite’s product suite, and issuing wrapped tokens on other major blockchain networks.

You really don’t want to miss out on this letter! Read Charles’ full letter here.

Key Activities

ViteX Has Distributed $5.8M in Dividends So Far

We are proud to announce that our token, VX has distributed $5.8M in dividends to our users. To make sure you can get dividends from VX, learn how to stake VX on our exchange in this Twitter thread at @ViteXExchange.

Nami.Exchange Lists VITE & NAMI/USDT Eligible for 10x Market-Making as Mining on ViteX
On March 10th, Nami.Exchange listed our VITE coin on their exchange for VITE/USDT trading pairs. Click here for more information.

NAMI/USDT trade pairs became eligible for 10x Market-Making as Mining on our ViteX decentralized exchange on March 5th.

ViteX Lists AUTO/USDT Pair

On March 11th, ViteX newly listed AUTO/USDT paring on our DEX exchange. AUTO, also known as Autofarm, is a hyper-optimized cross-chain yield aggregator deployed on Binance Smart Chain and the Huobi ECO Chain.

VITE Mainnet Coin Soon Trading on Upbit Exchange

Soon, Upbit users will be able to trade VITE on Upbit! Please note that VITE’s existing deposit address will be unavailable due to a deposit stoppage happening on 3/16 at 12:00 Korea Standard Time. Please refer to the following link for more info (in Korean and English): https://upbit.com/service_center/notice?id=1838

Announcing our 100,000 VCP Retweet Contest Winners
We want to thank all the participants of our Vite Community Points (VCP) Contest! The winners of the contest were announced on our Vite Labs Twitter handle here. Congratulations!

https://twitter.com/vitelabs/status/1370063423887773698

Remember, VCP can be used to purchase swag and merchandise at global.vite.store. The more you give to Vite, the more VCP you get!

ViteX AMAs: Epic Cash and Dune Network
Over the last two weeks, we held not one, but two AMA’s with our friends at Epic Cash and Dune Network. The AMA with Epic Cash was held on our Vite Exchange Telegram channel at https://t.me/vitexexchange. A full transcript of the AMA is coming soon.

Our AMA with Dune Network can be seen on our YouTube channel here. Make sure you check it out because we’re giving away 100 TON to the top five questions (20 TON each) posted in the comment section!

Youtube Video

Community Contributions and Shoutouts
Our friends at @vite_news on Twitter shared a great tweet below about our pending integration of the Binance Smart Chain (BSC) into ViteX. Check it out!

https://twitter.com/vite_news/status/1366967073029713920

We cordially welcome the team at VITEtools for building an awesome site, vitetxs.de. From this site, users can download all kinds of data such as transactions and mining data as .csv files. All data is in real-time from Vite’s blockchain or from the ViteX API. Well done!

https://twitter.com/chunming_liu/status/1371593519165497353

Industry Exchanges

The Blockchain Debate Podcast

We are looking for great guests to participate in our podcast to discuss and debate the world of blockchain. Previous debaters include thought leaders in the space like Jimmy Song, Haseeb Quereshi, Lyn Alden, Qiao Wang, and many others. Previous motions include:

• Bitcoin is a scam.
• Ethereum is too early for institutional money.
• China will lead the world in blockchain innovation.
• Diem is a glorified PayPal.
• …and many more.

Interested in being a guest? Let us know!

The Blockchain Debate Podcast is a channel for Vite Labs to connect and brainstorm with key thought leaders in the industry. Check out all the episodes here: The Blockchain Debate Podcast.

You can also follow Richard on Twitter: @gentso09.

Also, don’t forget to also follow The Blockchain Debate Podcast on Twitter: @blockdebate.

Vite and VX Data

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French: https://t.me/vite_french
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Spanish: https://t.me/vite_spanish
Portuguese: https://t.me/vite_portuguese
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Filipino: https://t.me/vite_filipino
Bengali: https://t.me/vite_bengali
African: https://t.me/vite_africa

Discord: https://discordapp.com/invite/CsVY76q
Reddit: https://www.reddit.com/r/vitelabs/
Facebook: https://www.facebook.com/vitelabs/

HSBC To Move Corda Enterprise Blockchain To The Google Cloud

HSBC has announced it is the first financial institution to use software firm - R3s blockchain platform Corda Enterprise and move it onto Google Cloud.

The multinational bank was one of the first global banks to adopt blockchain technology into its systems. HSBC, alongside ING Bank, was the first to pilot a letter of credit in 2018 on the Voltron blockchain trade platform, and has now become the first financial institution to use R3’s Corda enterprise blockchain on Google Cloud.

This move by HSBC, to the cloud, marks a turning point for global custody clients, who will now be able to access details of their private assets directly and in real time, instead of requesting paper-based records. The bank currently uses Corda’s Digital Vault service as a way to cut onboarding time and reduce costs.

In a statement from Gaurav Aggarwal, HSBC’s Head of Distributed Ledger Technology and Tokenisation, Markets & Securities Services, the bank addressed the future of the move to the Google Cloud:

“Being the first organisation to move Corda technology to Google Cloud is a further sign of HSBC’s commitment to blockchain and cloud technologies [...] As well as cutting onboarding times and reducing costs, it will help us prepare for the future, in which the full transaction lifecycle could be stored on a distributed ledger,”

The digital vault service utilises the blockchain to digitise the transaction records of private assets, that include equity, debt, and real estate. This service is currently only available in Asia, with likely expansion in the future.

Cathy Minter, chief revenue officer at R3, added:

“Blockchain’s potential in supporting the custody of future digital asset classes is immense, and we have already seen this in practice with HSBC’s Digital Vault service. As HSBC moves Corda onto Google Cloud, clients will benefit from faster onboarding times and reduced costs. Corda was built with the highest standards of privacy and security in mind.”

JP Morgan Advises Investors To Allocate 1% On Bitcoin

Analysts from the finance house have made a broad statement on hedging investments to investor portfolios. According to a recent note made by the team of financial analysts representing JP Morgan, Bitcoin's current status functions as an uncorrelated hedge to the broader market.

“In a multi-asset portfolio, investors can likely add up to 1% of their allocation to cryptocurrencies in order to achieve any efficiency gain in the overall risk-adjusted returns of the portfolio,” stated the analysts, a team which included Joyce Chang and Amy Ho.

Having risen at least five times in the past year, Bitcoin's continued rise has prompted prominent investors such as Elon Musk, Paul Tudor Jones, and Stan Druckenmiller have bought in for their share. Companies like MicroStrategy and BNY Mellon have disclosed their Bitcoin positions. The average number of active users of cryptocurrencies, in general, has also risen significantly since December of 2020, adding some 15 million more users overall.

The alpha cryptocurrency has been touted by strategists as a viable means of hedging against significant fluctuations usually observed in charts for traditional asset classes. The recommendation of a 1% allocation for crypto is based on observations of crypto's—in particular Bitcoin's—highly volatile market, such that, in the event of a sudden move to a bearish turn, the effect would be insubstantial to an investor's current portfolio. While JP Morgan still sees Bitcoin as an off-risk asset like gold, correlative value of the cryptocurrency currently expresses 0.134 when compared to the S&P 500.

“Through the insatiable buy-side pressure from exchange-traded fund issuers, close-ended funds and large public corporations adding Bitcoin to their positions, demand is massively outstripping supply,” said Annabelle Huang, partner at Amber Group.

Notably, during the March 2020 market crash as the onset of the COVID-19 pandemic came to a fore, the cryptocurrency markets alongside Bitcoin also suffered the same, with a sharp bearish turn bringing BTC prices to a closure of as low as $5,000 in mid-March of 2020. The correlation rose to 0.54 during this period, suggesting that the two markets, while nominally unrelated, are correlated to a certain degree given that investments often overlap across portfolios.

Despite these positive statements, the analysts from JP Morgan remains doubtful of cryptocurrencies' usefulness in general, opining that “[cryptos] are investment vehicles and not funding currencies,” such that when investors are off "looking to hedge a macro event with a currency, we recommend a hedge through funding currencies like the yen or U.S. dollar instead.”

Unstoppable Domains Partners With Unocoin To Reduce Remittance Fees In India

India’s first exchange - Unocoin, has announced a partnership with Unstoppable Domains, in a move that will simplify cryptocurrency addresses and integrate .crypto blockchain domains. This will reduce remittance costs, while improving the user experience for Unocoin’s 1.2m users.

Unstoppable Domains, the company that replaces complicated cryptocurrency addresses with human readable names, aims to ‘set the internet free’ by creating a full blockchain name registry that acts as a payment gateway. This ensures that personal crypto addresses remain private, and makes payment simple and straightforward. As an alternative to a complex 40 character address name, Unstoppable Domains provides an easy to remember human readable name.

The collaboration between Unstoppable Domains, and the Indian exchange - Unocoin, aims to facilitate the ease of transaction for the current Unocoin users, but also provide a valuable service to India’s many cryptocurrency users. Reiterating Unocoin’s mission of “bringing bitcoin to the billions”. Co-founder of Unstoppable Domains, Brad Kam, commented:

“At its core, cryptocurrency is meant to allow for the cheap and efficient transfer of financial assets,” [...]“India’s population has been historically scorned from cryptocurrency. Unstoppable Domains is excited to deliver the seamless sending and receiving of cryptocurrency to Unocoin’s users. Our aim is to simplify cryptocurrency addresses, and establish human readable names as the domain standard across wallets and exchanges.”

Despite India being the second largest ‘Bitcoin nation’ in Asia, and the neighest recipient of remittances globally, the recent proposal to ban private cryptocurrencies in India could have a severe impact on the country’s ability to freely transact. As a result, there has been much heat from advocates of crypto to regulate, rather than ban, cryptocurrencies. Leading crypto companies like CoinDCX and Zebpay have teamed up to launch a campaign against the proposed ban with the hashtag #IndiaWantsBitcoin. This initiative hopes to showcase the support for cryptocurrencies in India, and push policy-makers to reconsider this bill.

Sathvik Vishwanath, CEO and Co-Founder at Unocoin stated:

“In line with the growth of the industry, Unocoin aims to offer its users the best possible experience. Integrating the .crypto domain is a significant step not only for Unocoin users, but also for additional exchanges in the country exploring simpler and more user-friendly options for their users.”

Integrating the .crypto domain will allow any exchange to simplify the transaction process. As the industry expands, it will make the holding and transacting of crypto assets much more attractive. Unlike the potentially daunting task of remembering (or losing) a 40 character address name, simplified crypto domains will make it easier for users to send and receive cryptocurrency, which in turn, will increase the remittance market and overall economic growth.

Sorare Takes Fantasy Football NFTs To New Level After $50 Million Funding Round

Sorare announced today the completion of a $50 funding round led by Benchmark and with participation from Accel. Leading celebrities in the world of football also took part, such as Antoine Griezmann, Rio Ferdinand, Oliver Bierhoff, Alexis Ohanian and Gary Vaynerchuck.

Nicolas Julia is the Co-Founder and CEO of Sorare, the global fantasy football game. He says he started his journey back in 1998 when France hosted the World Cup. He completed his very first sticker album that year, and he said it helped to bring him closer to the game of football, but also closer to his friends who were also collecting the stickers.

Years later, in 2018, Julia and his Co-Founder Adrien discovered the new technology of Non-Fungible Tokens (NFTs). They realised that this could take digital collecting to a new level, and that it would be the perfect fit for introducing digital scarcity into the world of fantasy football.

Julia says that working with Benchmark has brought his dream to reality. He believes Benchmark to be “one of the best early-stage venture capital firms in the world”. Benchmark has also successfully backed top internet companies such as Twitter, Snap, Instagram and Discord.

The Sorare CEO says what the company will do with the funding:

“We’ll be using this new funding to propel our vision forward. Our mission is to create “The game within The game”. We are transforming online football fandom and giving fans like us the power to own the game they love.”

He goes on to say that the funding will help in hiring a first-class team, onboard the top 20 football leagues in the world, and launch a mobile app. He also adds:

“More importantly, these funds will serve to delight our current and future community. Clubs, footballers and fans are at the heart of the game. We’re designing an experience where fans can celebrate, share, and live football moments at a deeper connection. We’re making fantasy football a reality.”

Finally, he describes how the technology of NFTs will work to give digital cards superpowers:

“Blockchain technology gives Sorare cards superpowers. We are building more than collectibles. Our digital cards have a utility that can be used in our global fantasy football games and myriads of games. The potential is limitless and we can’t wait to see the amazing football projects that are built around Sorare cards!”

NFT technology is really exploding onto the Blockchain/Cryptocurrency scene currently. Christies is involved with selling art NFTs and the world of DeFi is using the technology in ever more innovative ways. The future does look bright for the companies that can become the first movers.