Ⓜ️Microsoft has launched Ethereum product on its Azure platform.
It is developed on the base of the ‘Blockchain as a Service’ model. Also this solution is working on Proof of Authority algorithm, it does not require mining and is based on the approved validators principle.
A new product includes decentralized application Governance DApp, which provides its members with the opportunity to manage the network and add additional authorities to it. At the same time the administrators have the right to change the validators through the voting system.
The participants will be obliged to cover the basic infrastructure expenses, such as calculating, storage and network interaction. There will be no additional fees.
Also with the help of Parity WebAsembly, the developers will be able to create smart contracts with C, C++ and Rust programming languages.
It is developed on the base of the ‘Blockchain as a Service’ model. Also this solution is working on Proof of Authority algorithm, it does not require mining and is based on the approved validators principle.
A new product includes decentralized application Governance DApp, which provides its members with the opportunity to manage the network and add additional authorities to it. At the same time the administrators have the right to change the validators through the voting system.
The participants will be obliged to cover the basic infrastructure expenses, such as calculating, storage and network interaction. There will be no additional fees.
Also with the help of Parity WebAsembly, the developers will be able to create smart contracts with C, C++ and Rust programming languages.
🔥 Orvium - Open and Transparent Science Powered By Blockchain
It is time to get involved and get the control back of the human knowledge.
Orvium is more than another startup — you are about to participate in a project driven by top engineers and scientists with many years of experience driving innovation at CERN, the birthplace of the Web, and NASA.
Orvium aims to disrupt one of the most lucrative industry world-wide, with profit margins reported to exceed those of companies such as Google, Amazon, and Apple, while making science more transparent, universal and open than ever. Orvium creates a unique decentralized platform powered by blockchain, decentralized storage, big data and artificial intelligence to create an unprecedented decentralized solution to process, validate, disseminate and preserve scientific knowledge forever.
We want you to be part of our future: Our TGE offers you the unique opportunity to buy ORVIUM tokens and join an excellent team. With your participation, we are going to scale science and become the leading publication platform while returning the benefits of science to society. The Web was originally designed to meet the demand for transparent and automatic information sharing between scientists around the world, lets do it now and for all.
Early-birds will be rewarded with a 10% bonus during our pre-sale.
Join us and be part of this exciting journey:
https://t.me/orvium
https://orvium.io
It is time to get involved and get the control back of the human knowledge.
Orvium is more than another startup — you are about to participate in a project driven by top engineers and scientists with many years of experience driving innovation at CERN, the birthplace of the Web, and NASA.
Orvium aims to disrupt one of the most lucrative industry world-wide, with profit margins reported to exceed those of companies such as Google, Amazon, and Apple, while making science more transparent, universal and open than ever. Orvium creates a unique decentralized platform powered by blockchain, decentralized storage, big data and artificial intelligence to create an unprecedented decentralized solution to process, validate, disseminate and preserve scientific knowledge forever.
We want you to be part of our future: Our TGE offers you the unique opportunity to buy ORVIUM tokens and join an excellent team. With your participation, we are going to scale science and become the leading publication platform while returning the benefits of science to society. The Web was originally designed to meet the demand for transparent and automatic information sharing between scientists around the world, lets do it now and for all.
Early-birds will be rewarded with a 10% bonus during our pre-sale.
Join us and be part of this exciting journey:
https://t.me/orvium
https://orvium.io
Telegram
Orvium
Public group of the Orvium Project orvium.io
🔹Fintech company Intuit has been granted a patent for processing bitcoin payments through text messages.
It is not the first time the company filed the application for this patent. First time they tried to receive it in 2014, but only now they could succeed.
The document describes how to transfer funds between users using mobile phones within a virtual account system.
This is a method of processing payments. It assumes receipt by the payment service of a text message from the sender indicating the amount of payment and the identification number of the recipient's mobile device.
💡Intuit offers business and financial management solutions for SMBs, financial institutions, consumers, and accounting professionals.
It is not the first time the company filed the application for this patent. First time they tried to receive it in 2014, but only now they could succeed.
The document describes how to transfer funds between users using mobile phones within a virtual account system.
This is a method of processing payments. It assumes receipt by the payment service of a text message from the sender indicating the amount of payment and the identification number of the recipient's mobile device.
💡Intuit offers business and financial management solutions for SMBs, financial institutions, consumers, and accounting professionals.
CRYPTOCARZ IS THE WORLD'S FIRST BLOCKCHAIN-ENABLED VR RACING EXPERIENCE
CRYPTOCARZ IS A MULTIPLAYER, VIRTUAL REALITY (VR)-ENABLED RACING EXPERIENCE, DEVELOPED USING THE ETHEREUM BLOCKCHAIN.
To play, users will have to load the car assets into the game from an Ethereum wallet, where they are stored as an ERC721 token. The ERC721 token has paved the way for a new class of digital assets called non-fungible tokens (NFTs). These allow users to own, customise and maintain control in the
same way as in the physical world.
Blockchain Studios contends that this new asset class opens up new opportunities for user engagement and ownership. We believe that the first wave of innovation will come from gaming. CryptoCarz is the first platform to bring together blockchain, VR and gaming technologies. By giving gamers new options to visualise, own, adapt and race their own car, we think a new era in gaming has arrived.
WE BELIEVE GAMING IT WILL BE TRANSFORMED BY THE RISE – AND INTEGRATION – OF THREE TECHNOLOGIES: BLOCKCHAIN, E-SPORTS AND VR.
Each of them, independently, represents a paradigm shift for game development and consumption. Their attributes will make technology more individual, inclusive and immersive. The combination of these technologies will give rise to new scenarios, where gamers can own, modify, trade and play in an unprecedented way
THE CONCEPT
Cars, gaming and cryptocurrency are shared passions at Blockchain Studios, so combining them was a natural choice when we started working on CryptoCarz. We see strong synergies between the cryptocurrency community and gamers and we believe there is a market for a game that blends racing, cryptocurrency and blockchain technology. CryptoCarz is a multiplayer, fully immersive, VR-enabled racing experience, powered by the Ethereum blockchain. To race in the game, a user will have to demonstrate ownership of a car that is modelled and stored as an ERC721 Ethereum token in the gamer’s private wallet. The car will then be loaded into the game via integration with MetaMask and other proprietary tools
The game will initially offer 20 car models representative of the top cryptocurrencies. Each model will have a maximum of 650 units, hard-coded and numerically defined in the smart contract.No further cars in these models will be produced in the future.
Links:
Telegram Group: https://t.me/cryptocarz
Website: www.cryptocarz.io
Whitepaper: https://www.cryptocarz.io/docs/CryptoCarz_WP.pdf
One pager: https://www.cryptocarz.io/docs/CryptoCarz_1P.pdf
Twitter: https://twitter.com/cryptocarz
Medium blog: https://medium.com/@cryptocarz
CRYPTOCARZ IS A MULTIPLAYER, VIRTUAL REALITY (VR)-ENABLED RACING EXPERIENCE, DEVELOPED USING THE ETHEREUM BLOCKCHAIN.
To play, users will have to load the car assets into the game from an Ethereum wallet, where they are stored as an ERC721 token. The ERC721 token has paved the way for a new class of digital assets called non-fungible tokens (NFTs). These allow users to own, customise and maintain control in the
same way as in the physical world.
Blockchain Studios contends that this new asset class opens up new opportunities for user engagement and ownership. We believe that the first wave of innovation will come from gaming. CryptoCarz is the first platform to bring together blockchain, VR and gaming technologies. By giving gamers new options to visualise, own, adapt and race their own car, we think a new era in gaming has arrived.
WE BELIEVE GAMING IT WILL BE TRANSFORMED BY THE RISE – AND INTEGRATION – OF THREE TECHNOLOGIES: BLOCKCHAIN, E-SPORTS AND VR.
Each of them, independently, represents a paradigm shift for game development and consumption. Their attributes will make technology more individual, inclusive and immersive. The combination of these technologies will give rise to new scenarios, where gamers can own, modify, trade and play in an unprecedented way
THE CONCEPT
Cars, gaming and cryptocurrency are shared passions at Blockchain Studios, so combining them was a natural choice when we started working on CryptoCarz. We see strong synergies between the cryptocurrency community and gamers and we believe there is a market for a game that blends racing, cryptocurrency and blockchain technology. CryptoCarz is a multiplayer, fully immersive, VR-enabled racing experience, powered by the Ethereum blockchain. To race in the game, a user will have to demonstrate ownership of a car that is modelled and stored as an ERC721 Ethereum token in the gamer’s private wallet. The car will then be loaded into the game via integration with MetaMask and other proprietary tools
The game will initially offer 20 car models representative of the top cryptocurrencies. Each model will have a maximum of 650 units, hard-coded and numerically defined in the smart contract.No further cars in these models will be produced in the future.
Links:
Telegram Group: https://t.me/cryptocarz
Website: www.cryptocarz.io
Whitepaper: https://www.cryptocarz.io/docs/CryptoCarz_WP.pdf
One pager: https://www.cryptocarz.io/docs/CryptoCarz_1P.pdf
Twitter: https://twitter.com/cryptocarz
Medium blog: https://medium.com/@cryptocarz
Better Ways of Storing Value Than Bitcoin, Claims Trump’s Fmr. Economic Advisor
Four months after leaving the White House as a chief economic advisor, Gary Cohn is looking for his next challenge.
Among the various opportunities available, the former Goldman Sachs president has revealed that he is eyeing the cryptocurrency world. If he has his way, there could be some disruption in the offing.
“I’m not keen on what’s going on. I’m keen on what I think could be the new world of crypto, but it’s got to have a use. It can’t just be a store of valuation, there are other more practical ways to store value,” Cohn told Bloomberg at a charity event after being asked what his next move will be after leaving the White House as Trump’s chief economic advisor.
Unhappy with the status quo
This is not the first time that the former Trump advisor who quit after the president slapped tariffs on steel and aluminum imports is hinting his discomfort with cryptocurrencies as they currently exist. As previously reported by CCN, Cohn argued in May this year that a global cryptocurrency will emerge eventually but it will not be bitcoin.
Then Cohn stated that the ‘complicated’ nature of bitcoin worked against the flagship cryptocurrency. Consequently, Cohn predicted that the global cryptocurrency of the future will be one that is well understood and one which is not generated by mining.
“It will be a more easily understood cryptocurrency. It will probably have some blockchain technology behind it, but it will be much more easily understood how it’s created, how it moves and how people can use it,” said Cohn.
FOMO-Resistant
ast year in December even as bitcoin was reaching record highs Cohn revealed that he wasn’t invested in the flagship cryptocurrency. At the time he indicated that he was hoping for a more mainstream digital currency with lower transaction costs to emerge in the United States.
At Goldman Sachs, Cohn had been the president and co-chief operating officer of the famed Wall Street giant where he was seen a likely successor to Lloyd Blankfein, the investment bank’s outgoing CEO. Among the mainstream financial firms, Cohn’s former employer has a fairly progressive stance with regards to cryptocurrencies.
Most recently it was reported that Goldman Sachs was looking into unveiling bitcoin custodial services for investment funds and other institutional investors. The investment bank has also made key hires from the cryptocurrency field as rumors swirled that it was launching a bitcoin trading desk.
Four months after leaving the White House as a chief economic advisor, Gary Cohn is looking for his next challenge.
Among the various opportunities available, the former Goldman Sachs president has revealed that he is eyeing the cryptocurrency world. If he has his way, there could be some disruption in the offing.
“I’m not keen on what’s going on. I’m keen on what I think could be the new world of crypto, but it’s got to have a use. It can’t just be a store of valuation, there are other more practical ways to store value,” Cohn told Bloomberg at a charity event after being asked what his next move will be after leaving the White House as Trump’s chief economic advisor.
Unhappy with the status quo
This is not the first time that the former Trump advisor who quit after the president slapped tariffs on steel and aluminum imports is hinting his discomfort with cryptocurrencies as they currently exist. As previously reported by CCN, Cohn argued in May this year that a global cryptocurrency will emerge eventually but it will not be bitcoin.
Then Cohn stated that the ‘complicated’ nature of bitcoin worked against the flagship cryptocurrency. Consequently, Cohn predicted that the global cryptocurrency of the future will be one that is well understood and one which is not generated by mining.
“It will be a more easily understood cryptocurrency. It will probably have some blockchain technology behind it, but it will be much more easily understood how it’s created, how it moves and how people can use it,” said Cohn.
FOMO-Resistant
ast year in December even as bitcoin was reaching record highs Cohn revealed that he wasn’t invested in the flagship cryptocurrency. At the time he indicated that he was hoping for a more mainstream digital currency with lower transaction costs to emerge in the United States.
At Goldman Sachs, Cohn had been the president and co-chief operating officer of the famed Wall Street giant where he was seen a likely successor to Lloyd Blankfein, the investment bank’s outgoing CEO. Among the mainstream financial firms, Cohn’s former employer has a fairly progressive stance with regards to cryptocurrencies.
Most recently it was reported that Goldman Sachs was looking into unveiling bitcoin custodial services for investment funds and other institutional investors. The investment bank has also made key hires from the cryptocurrency field as rumors swirled that it was launching a bitcoin trading desk.
$270 Million: Chinese Firm Backs Overstock Blockchain Subsidiary in Record Investment
GSR Capital, a Chinese private equity firm is set to establish what would become the largest ever single investment in a blockchain platform. The investment by GSR Capital will see it acquire about 3.1 million shares of US-based Overstock, amounting to about 10% in overall shares of the company.
As contained in a letter of intent as confirmed to Forbes, GSR Capital will invest as much as $270 million to acquire 18% of tZero platform in the initial stage of the investment. Afterwards, the company shall pay another $104.55 million for the already mentioned 10% stake in Overstock.
The platform tZero is a subsidiary of Overstock that enables the trading of public and private securities issued on a blockchain. In tZero’s ICO, GSR Capital yet plans to inject another $30 million as additional investment, making up the total amount raised to $134 million.
Cumulatively the total amount involved in this transaction could reach $404 million, raising the valuation of tZero to $1.5 billion as early as December 15 2018, all things being equal.
This fragmented deal involves a couple of independent letters of intent signed by all parties involved in what the executive chairman and CEO of Overstock.com, Patrick Byrne describes as a parabolic “Wedding Cake”.
According to Byrne, independent letters of intent were signed by GSR and tZero, and GSR and Overstock. Three other invested are also expected to be announced soon coming from Asia and the Middle East.
Although based in the United States, Byrne notes the difficulty in raising capital at home as a key reason why offshore investments appear to be leading in terms of the firm’s capitalization processes. This is the reality even with a fully registered and SEC-licensed company like Overstock.
“U.S. capital is, to be honest, they’re gun shy on this whole blockchain issue, and I’m sorry to say the US is not the leading country in the world”, says Byrne
Byrne continues by making known the plans of tZero to spend raised funds in rolling out multiple tokenized securities exchanges around the world in parallel with its SEC-licensed U.S. operation.
This exercise records another milestone for blockchain in its adoption by mainstream establishments. It is the first blockchain experience for GSR Capital in terms of public investment, having been popular for its investments in the areas of electric vehicles and clean energy.
GSR Capital, a Chinese private equity firm is set to establish what would become the largest ever single investment in a blockchain platform. The investment by GSR Capital will see it acquire about 3.1 million shares of US-based Overstock, amounting to about 10% in overall shares of the company.
As contained in a letter of intent as confirmed to Forbes, GSR Capital will invest as much as $270 million to acquire 18% of tZero platform in the initial stage of the investment. Afterwards, the company shall pay another $104.55 million for the already mentioned 10% stake in Overstock.
The platform tZero is a subsidiary of Overstock that enables the trading of public and private securities issued on a blockchain. In tZero’s ICO, GSR Capital yet plans to inject another $30 million as additional investment, making up the total amount raised to $134 million.
Cumulatively the total amount involved in this transaction could reach $404 million, raising the valuation of tZero to $1.5 billion as early as December 15 2018, all things being equal.
This fragmented deal involves a couple of independent letters of intent signed by all parties involved in what the executive chairman and CEO of Overstock.com, Patrick Byrne describes as a parabolic “Wedding Cake”.
According to Byrne, independent letters of intent were signed by GSR and tZero, and GSR and Overstock. Three other invested are also expected to be announced soon coming from Asia and the Middle East.
Although based in the United States, Byrne notes the difficulty in raising capital at home as a key reason why offshore investments appear to be leading in terms of the firm’s capitalization processes. This is the reality even with a fully registered and SEC-licensed company like Overstock.
“U.S. capital is, to be honest, they’re gun shy on this whole blockchain issue, and I’m sorry to say the US is not the leading country in the world”, says Byrne
Byrne continues by making known the plans of tZero to spend raised funds in rolling out multiple tokenized securities exchanges around the world in parallel with its SEC-licensed U.S. operation.
This exercise records another milestone for blockchain in its adoption by mainstream establishments. It is the first blockchain experience for GSR Capital in terms of public investment, having been popular for its investments in the areas of electric vehicles and clean energy.
Overstock.com soars after its blockchain sub gets 1.5 billion investment
nfinitely bigger online retailing peer Amazon, were nothing special: the company reported Q2 revenues of $483 million, generating a net loss for the quarter of $2.20 on a gross margin of 19% in the quarter.
But the company's earnings were not the reason why OSTK shares soared as much as 25% after hours: the reason was the surprising announcement by the company that Hong Kong-based private-equity firm GSR Capital had agreed to invest as much as $375 MM in exchange for equity in the retailer and, more importantly, its tZero blockchain subsidiary, which as a reminder capitalized on the cryptocurrency craze in late 2017 and concluded an Initial Coin Offering on December 18, 2017, almost to the day when Bitcoin hit an all time high of just under $20,000.
As Overstock announced in its press release, GSR agreed to:
✅ buy $30MM in tZero tokens.
✅ buy up to 3.1MM shares of OSTK for $104 million (a 5% discount to the Aug. 1 closing price of $33.72).
✅ invest as much as $270MM for up to 18% of tZero’s equity at a whopping post-money valuation of $1.5 Billion.
And since Overstock's market cap as of Thursday's close was just over $1.1 billion, this means that with one term sheet, the company's tZero sub is suddenly worth more than the entire parent company. More importantly, the GSR transaction will boost the company's cash and equivalent holdings to over half a billion dollars. Back in December, when Overstock launched its tZero ICO, it said that it was hoping to raise at least $250 million - and as much as $500 million - "to build out a blockchain system that the firm said would allow it to create an exchange to trade blockchain-based assets, like ICOs." In the end it raised aggregated funds of just approximately $134 million, and today's transactions adds to that and enables CEO Patrick Byrne to pursue his Security Token ambitions.As a result of the deal, OSTK stock has jumped and was trading as high as $46/share after hours. Even with the surge however, the stock remains well below its highs hit in late 2017 and early 2018, when its share price more than doubled to a high of $86.90 in January, due to its blockchain investments rather than its online retailing activities, which have seen it categorized as a cryptocurrency "play". Overstock has been one of the few retailers that has aggressively pursued cryptos as both a method of payment and as a means by which to grew the company with its own unique token. As we reported recently, following a burst of adoption of cryptos by various vendors, as the price of bitcoin has tumbled in 2018, so has the rate of adoption. Which is why Overstock's experiment with cryptos and tokens will be closely watched to determine if the digital currency has any chance of becoming useful in practice instead of just in theory.
nfinitely bigger online retailing peer Amazon, were nothing special: the company reported Q2 revenues of $483 million, generating a net loss for the quarter of $2.20 on a gross margin of 19% in the quarter.
But the company's earnings were not the reason why OSTK shares soared as much as 25% after hours: the reason was the surprising announcement by the company that Hong Kong-based private-equity firm GSR Capital had agreed to invest as much as $375 MM in exchange for equity in the retailer and, more importantly, its tZero blockchain subsidiary, which as a reminder capitalized on the cryptocurrency craze in late 2017 and concluded an Initial Coin Offering on December 18, 2017, almost to the day when Bitcoin hit an all time high of just under $20,000.
As Overstock announced in its press release, GSR agreed to:
✅ buy $30MM in tZero tokens.
✅ buy up to 3.1MM shares of OSTK for $104 million (a 5% discount to the Aug. 1 closing price of $33.72).
✅ invest as much as $270MM for up to 18% of tZero’s equity at a whopping post-money valuation of $1.5 Billion.
And since Overstock's market cap as of Thursday's close was just over $1.1 billion, this means that with one term sheet, the company's tZero sub is suddenly worth more than the entire parent company. More importantly, the GSR transaction will boost the company's cash and equivalent holdings to over half a billion dollars. Back in December, when Overstock launched its tZero ICO, it said that it was hoping to raise at least $250 million - and as much as $500 million - "to build out a blockchain system that the firm said would allow it to create an exchange to trade blockchain-based assets, like ICOs." In the end it raised aggregated funds of just approximately $134 million, and today's transactions adds to that and enables CEO Patrick Byrne to pursue his Security Token ambitions.As a result of the deal, OSTK stock has jumped and was trading as high as $46/share after hours. Even with the surge however, the stock remains well below its highs hit in late 2017 and early 2018, when its share price more than doubled to a high of $86.90 in January, due to its blockchain investments rather than its online retailing activities, which have seen it categorized as a cryptocurrency "play". Overstock has been one of the few retailers that has aggressively pursued cryptos as both a method of payment and as a means by which to grew the company with its own unique token. As we reported recently, following a burst of adoption of cryptos by various vendors, as the price of bitcoin has tumbled in 2018, so has the rate of adoption. Which is why Overstock's experiment with cryptos and tokens will be closely watched to determine if the digital currency has any chance of becoming useful in practice instead of just in theory.
World Bank turns to CBA for world’s first blockchain bond
The World Bank (International Bank for Reconstruction and Development, IBRD) has mandated the Commonwealth Bank of Australia (CBA) as the sole arranger of the first bond globally to be created, allocated, transferred and managed through its life cycle using distributed ledger technology (DLT).
According to the duo, indicative investor interest in bond-i (blockchain operated new debt instrument) has been “strong”. The duo expects to launch the transaction following a period of consultation with a “broader set” of investors.
Arunma Oteh, World Bank Treasurer, says it worked with information technology colleagues and the CBA over several months on the project.
James Wall, executive general manager of international, CBA, adds that blockchain can “increase the efficiency of financing solutions to better achieve World Bank’s goal to end extreme poverty”.
Blockchain will be used to streamline processes among numerous debt capital market intermediaries and agents.
The World Bank issues between $50-$60 billion annually in bonds for sustainable development.
It cites its 70-year track record in the capital markets. Such as a globally traded and settled bond issued in September 1989; and the first e-bond issued in January 2000. As a frequent issuer in the Australian dollar market, it has since 1986 raised nearly AU$60 billion ($43.7 billion) from investors globally.
The bond-i blockchain platform was built and developed by the CBA Blockchain Centre of Excellence. Since 2009, CBA has acted as lead manager for a number of IBRD bond issuances in the Australian and New Zealand capital markets.
World Bank infrastructure for the bond will run in Washington, DC on the Microsoft Azure cloud computing platform. Microsoft validated the system’s operational capabilities.
The World Bank provides loans, guarantees, risk management products, and advisory services to middle-income and “other creditworthy countries” to support its “sustainable development goals and to end extreme poverty and promote shared prosperity”.
The World Bank (International Bank for Reconstruction and Development, IBRD) has mandated the Commonwealth Bank of Australia (CBA) as the sole arranger of the first bond globally to be created, allocated, transferred and managed through its life cycle using distributed ledger technology (DLT).
According to the duo, indicative investor interest in bond-i (blockchain operated new debt instrument) has been “strong”. The duo expects to launch the transaction following a period of consultation with a “broader set” of investors.
Arunma Oteh, World Bank Treasurer, says it worked with information technology colleagues and the CBA over several months on the project.
James Wall, executive general manager of international, CBA, adds that blockchain can “increase the efficiency of financing solutions to better achieve World Bank’s goal to end extreme poverty”.
Blockchain will be used to streamline processes among numerous debt capital market intermediaries and agents.
The World Bank issues between $50-$60 billion annually in bonds for sustainable development.
It cites its 70-year track record in the capital markets. Such as a globally traded and settled bond issued in September 1989; and the first e-bond issued in January 2000. As a frequent issuer in the Australian dollar market, it has since 1986 raised nearly AU$60 billion ($43.7 billion) from investors globally.
The bond-i blockchain platform was built and developed by the CBA Blockchain Centre of Excellence. Since 2009, CBA has acted as lead manager for a number of IBRD bond issuances in the Australian and New Zealand capital markets.
World Bank infrastructure for the bond will run in Washington, DC on the Microsoft Azure cloud computing platform. Microsoft validated the system’s operational capabilities.
The World Bank provides loans, guarantees, risk management products, and advisory services to middle-income and “other creditworthy countries” to support its “sustainable development goals and to end extreme poverty and promote shared prosperity”.
Audius, which is launching a Blockchain-based music-sharing protocol, announced that it has raised $5.5 million in a Series A funding round
In spite of the bearish trends that have plagued the markets over the past two weeks, Hong Kong-based cryptocurrency exchange BitMex has traded more than 1 million BTC contracts in a single day for the second time in a month. A total of 1,027,214.62 Bitcoin contracts (worth roughly $6.6 billion) were traded on Wednesday, August 8th.
BitMex CEO Arthur Hayes attributed the massive uptick in trading on the platform to the launch of two new derivatives trading products. The first is an ETH/USD perpetual swap product that allows BitMex traders to place bets on Ether and USD without ever actually holding either.
“Once again meeting our own record of 1 million bitcoin traded within 24 hours is a major milestone for the crypto-coin market and testament to the strong community BitMEX is growing,” Hayes said in an official company announcement.
The other is UPs and DOWNs, BitMex’s first ever call and put options.
“The ETHUSD perpetual swap and UPs and Downs represent new and exciting territory for BitMEX and an unprecedented opportunity for the crypto community to experiment with more sophisticated financial instruments on an easy-to-use and highly secure trading application,” Hayes said in an official statement.
BitMex explained that the decision to launch ETH/USD perpetual swaps came as a result of the success of its previously launched XBT/USD swap product. The exchange also claims that its XBT/USD markets are the most liquid on the planet.
Hayes sees a future for BitMex in the business of “…offering a wealth of derivative products designed for the crypto-coin industry.” CrowdFundInsider noted in a report that derivative products are becoming “ubiquitous” within the crypto space.
“Why not? Derivatives can help with liquidity as well as help to manage risk. It’s not always about trading and speculation,” the report asked.
In spite of the bearish trends that have plagued the markets over the past two weeks, Hong Kong-based cryptocurrency exchange BitMex has traded more than 1 million BTC contracts in a single day for the second time in a month. A total of 1,027,214.62 Bitcoin contracts (worth roughly $6.6 billion) were traded on Wednesday, August 8th.
BitMex CEO Arthur Hayes attributed the massive uptick in trading on the platform to the launch of two new derivatives trading products. The first is an ETH/USD perpetual swap product that allows BitMex traders to place bets on Ether and USD without ever actually holding either.
“Once again meeting our own record of 1 million bitcoin traded within 24 hours is a major milestone for the crypto-coin market and testament to the strong community BitMEX is growing,” Hayes said in an official company announcement.
The other is UPs and DOWNs, BitMex’s first ever call and put options.
“The ETHUSD perpetual swap and UPs and Downs represent new and exciting territory for BitMEX and an unprecedented opportunity for the crypto community to experiment with more sophisticated financial instruments on an easy-to-use and highly secure trading application,” Hayes said in an official statement.
BitMex explained that the decision to launch ETH/USD perpetual swaps came as a result of the success of its previously launched XBT/USD swap product. The exchange also claims that its XBT/USD markets are the most liquid on the planet.
Hayes sees a future for BitMex in the business of “…offering a wealth of derivative products designed for the crypto-coin industry.” CrowdFundInsider noted in a report that derivative products are becoming “ubiquitous” within the crypto space.
“Why not? Derivatives can help with liquidity as well as help to manage risk. It’s not always about trading and speculation,” the report asked.
Cryptassist - The ultimate set of crypto-related tools all in one easy to use application.
One of the main problems in the cryptosphere is that over time, cryptocurrency has become more and more difficult for novices and even experts to understand and is not yet widely useable as a currency on a daily basis. Cryptassist will solve this problem by making cryptocurrency usable for everyone in everyday life. The Cryptassist mission is to supply everyone with unfettered access to the world of crypto-assets through an array of essential tools with everything from trading and news alerts, to an OTC exchange and even a debit card. There exists no platform which covers the breadth and width of this many crypto-related features in one platform.
"We strive to simplify every aspect of crypto trading and research so that everyone from the average holder to the experienced day trader has the same data and advanced resources to make an informed trading decision.”
Cryptassist solves the problem of complexity by supplying all of the necessary resources in one easy to access location.
For example, the Multi-Coin Block Explorer allows the user to enter one of many coins’ public addresses into one search bar instead of having to search for separate block explorers for each coin. But that’s just one of the many features Cryptassist offers.
THE APPLICATION AND BUSINESS MODEL
Many of the services offered by on the Cryptassist app will be free to use and other features such as Trading Alerts, Cryptstarter, and the OTC Exchange, will be pay-per-use features at a very reasonable cost.
THE CRYPTASSIST DEFLATION MODEL
Cryptassist introduces its innovative deflation model. The coins that are spent on the pay-per-use features of the app will then be burned. This continuously reduces the supply, therefore combating price resistance in the marketplace. Less supply encourages the value of the remaining coins.
CRYPTASSIST INITIAL COIN OFFERING
Cryptassist will accept contributions in both fiat - by Bank Wire or PayPal, and the top 100 cryptocurrencies as listed on CoinMarketCap at 12am CST on the 28 June 2018. Users will also be able to submit suggestions for other crypto currencies to: suggestions@cryptassist.io.
Website: https://www.cryptassist.io/
Telegram group: https://t.me/CryptAssistCoin
One of the main problems in the cryptosphere is that over time, cryptocurrency has become more and more difficult for novices and even experts to understand and is not yet widely useable as a currency on a daily basis. Cryptassist will solve this problem by making cryptocurrency usable for everyone in everyday life. The Cryptassist mission is to supply everyone with unfettered access to the world of crypto-assets through an array of essential tools with everything from trading and news alerts, to an OTC exchange and even a debit card. There exists no platform which covers the breadth and width of this many crypto-related features in one platform.
"We strive to simplify every aspect of crypto trading and research so that everyone from the average holder to the experienced day trader has the same data and advanced resources to make an informed trading decision.”
Cryptassist solves the problem of complexity by supplying all of the necessary resources in one easy to access location.
For example, the Multi-Coin Block Explorer allows the user to enter one of many coins’ public addresses into one search bar instead of having to search for separate block explorers for each coin. But that’s just one of the many features Cryptassist offers.
THE APPLICATION AND BUSINESS MODEL
Many of the services offered by on the Cryptassist app will be free to use and other features such as Trading Alerts, Cryptstarter, and the OTC Exchange, will be pay-per-use features at a very reasonable cost.
THE CRYPTASSIST DEFLATION MODEL
Cryptassist introduces its innovative deflation model. The coins that are spent on the pay-per-use features of the app will then be burned. This continuously reduces the supply, therefore combating price resistance in the marketplace. Less supply encourages the value of the remaining coins.
CRYPTASSIST INITIAL COIN OFFERING
Cryptassist will accept contributions in both fiat - by Bank Wire or PayPal, and the top 100 cryptocurrencies as listed on CoinMarketCap at 12am CST on the 28 June 2018. Users will also be able to submit suggestions for other crypto currencies to: suggestions@cryptassist.io.
Website: https://www.cryptassist.io/
Telegram group: https://t.me/CryptAssistCoin
OEL Foundation
The supply chain industry generates over 13% of global GDP and is the lifeblood of the global economy. Innovations in this industry drive savings to every business and consumer on the planet.
Trillions of dollars are spent every year transporting everything from raw materials to finished goods, and every year billions in value is lost due to delays and disputes, driving up transport costs and slowing the cash flow cycle. The largest brands in the world lose 1% of revenue they can never invoice without proof of delivery to retailers, and transporters wait weeks to be paid.
The industry is ready to move to a blockchain-based platform that provides real transparency and proof of activity. This will allow every participant to invoice and be paid faster, grow their business, improve service and lower costs.
The Open Enterprise Logistics (OEL) Foundation and Alliance has been established to provide a standard Enterprise Architecture for all supply participants to build logistics dApps and blockchain-enable their technology.
Early adopters have already achieved real-world success, with Alliance member OpenPort becoming the first in the world to sell a blockchain-powered transport invoice on the AssetChain marketplace. https://bit.ly/2GqoBHD
OEL Alliance members are acting now to remove the paper trail, create trust and liquidity, and bypass intermediaries.
Members – from the largest shippers to the smallest transporters – will use the OPN (“open”) token to fuel the ecosystem behind one of the largest industries in the world. The TGE for OPN is a chance be part of an enterprise project that will change how goods and payments flow through the supply chain.
Website: https://oel.foundation/
Telegram: https://t.me/OELFoundation
ANN thread: https://bit.ly/2l986r8
The supply chain industry generates over 13% of global GDP and is the lifeblood of the global economy. Innovations in this industry drive savings to every business and consumer on the planet.
Trillions of dollars are spent every year transporting everything from raw materials to finished goods, and every year billions in value is lost due to delays and disputes, driving up transport costs and slowing the cash flow cycle. The largest brands in the world lose 1% of revenue they can never invoice without proof of delivery to retailers, and transporters wait weeks to be paid.
The industry is ready to move to a blockchain-based platform that provides real transparency and proof of activity. This will allow every participant to invoice and be paid faster, grow their business, improve service and lower costs.
The Open Enterprise Logistics (OEL) Foundation and Alliance has been established to provide a standard Enterprise Architecture for all supply participants to build logistics dApps and blockchain-enable their technology.
Early adopters have already achieved real-world success, with Alliance member OpenPort becoming the first in the world to sell a blockchain-powered transport invoice on the AssetChain marketplace. https://bit.ly/2GqoBHD
OEL Alliance members are acting now to remove the paper trail, create trust and liquidity, and bypass intermediaries.
Members – from the largest shippers to the smallest transporters – will use the OPN (“open”) token to fuel the ecosystem behind one of the largest industries in the world. The TGE for OPN is a chance be part of an enterprise project that will change how goods and payments flow through the supply chain.
Website: https://oel.foundation/
Telegram: https://t.me/OELFoundation
ANN thread: https://bit.ly/2l986r8
Medium
Acudeen Facilitates the First Blockchain-Enabled Invoice Factoring Transaction in the Philippines with OpenPort
Following last week’s exciting news of a partnership between Acudeen Technologies and OpenPort, The Acudeen Team is proud to announce that…
🔴Golden Gate Ventures, which is based in Singapore has announced the launch of a venture-based cryptocurrency fund with a registered capital of $ 10 million.
The company will invest in new crypto related startups, which are developing solutions for scalability, security, and custodial and institutional services.
The fund has already invested in the Singapore stock exchange Sparrow Exchange.
The company will invest in new crypto related startups, which are developing solutions for scalability, security, and custodial and institutional services.
The fund has already invested in the Singapore stock exchange Sparrow Exchange.
Blockchain startup tZERO has raised $134 million during Security Token Offering.
It was reported that the company raised $100 million in the first day of their token sale. Later it became known that many large investors from Asia faced significant difficulties during the investment process. This was the reason why the entire fund raising process was so slow.
Hong Kong investment company GSR Capital also intends to invest $ 400 million in tZero and Overstock.
GSR Capital will repurchase tZero shares in the amount of $270 million, when the company's capitalization will reach $ 1.5 billion.
Just to remind, previously tZero’s token sale was under investigation by the Securities and Exchange Commission. Nevertheless, no charges were brought up against the representatives of the firm.
It was reported that the company raised $100 million in the first day of their token sale. Later it became known that many large investors from Asia faced significant difficulties during the investment process. This was the reason why the entire fund raising process was so slow.
Hong Kong investment company GSR Capital also intends to invest $ 400 million in tZero and Overstock.
GSR Capital will repurchase tZero shares in the amount of $270 million, when the company's capitalization will reach $ 1.5 billion.
Just to remind, previously tZero’s token sale was under investigation by the Securities and Exchange Commission. Nevertheless, no charges were brought up against the representatives of the firm.
🔸The Commonwealth Bank of Australia will issue the world's first bonds based on Ethereum.
The blockchain technology will be used for the distribution, transfer and management of a ‘bond-i’ - Blockchain Offered New Debt Instrument.
Blockhain-based bonds are developed with the support of the investor community including Northern Trust, QBE and Treasury Corporation of Victoria.
After the launch, the bond will be issued and distributed on a blockchain platform operated by the World Bank and CBA in Washington and Sydney.
🗣James Wall, Executive General Manager of Institutional Banking & Markets International, CBA said:
We take a collaborative approach to innovating and have a track record of partnering with other leading financial institutions, government bodies and corporates to innovate through blockchain. We believe that this transaction will be groundbreaking as a demonstration of how blockchain technology can act as a facilitating platform for different participants.
We are delighted to have partnered with the World Bank and fully support its vision of making innovative use of technology such as blockchain to increase the efficiency of financing solutions to better achieve their goal to end extreme poverty.
The blockchain technology will be used for the distribution, transfer and management of a ‘bond-i’ - Blockchain Offered New Debt Instrument.
Blockhain-based bonds are developed with the support of the investor community including Northern Trust, QBE and Treasury Corporation of Victoria.
After the launch, the bond will be issued and distributed on a blockchain platform operated by the World Bank and CBA in Washington and Sydney.
🗣James Wall, Executive General Manager of Institutional Banking & Markets International, CBA said:
We take a collaborative approach to innovating and have a track record of partnering with other leading financial institutions, government bodies and corporates to innovate through blockchain. We believe that this transaction will be groundbreaking as a demonstration of how blockchain technology can act as a facilitating platform for different participants.
We are delighted to have partnered with the World Bank and fully support its vision of making innovative use of technology such as blockchain to increase the efficiency of financing solutions to better achieve their goal to end extreme poverty.
An e-commerce platform that recently launched a token sale aimed to raise $50 million has become Singapore's first public firm to hold an ICO.
Y Ventures Group, which went public on the Stock Exchange of Singapore last year, announced a plan for creating a blockchain-based e-commerce system in July and sent the sale of its AORA token live at the end of the same month.
According to the firm, the tokens do not represent ownership of equity in the firm and, as such, should not be regarded as securities – a move perhaps aimed to sidestep concerns from market regulators. Notably, the Monetary Authority of Singapore – the country's de facto central bank – halted one token sale in March as it deemed the tokens securities since, in that case, they did represent equity ownership.
Y Ventures may be the first, but it is not the only public firm in the city state looking to venture into the ICO space.
Public entertainment company Spackman also said in February that it aims to issue a cryptocurrency called K Coin in an effort to raise funds for its celebrity business. It has not yet made any announcement about a formal launch, however.
Y Ventures Group, which went public on the Stock Exchange of Singapore last year, announced a plan for creating a blockchain-based e-commerce system in July and sent the sale of its AORA token live at the end of the same month.
According to the firm, the tokens do not represent ownership of equity in the firm and, as such, should not be regarded as securities – a move perhaps aimed to sidestep concerns from market regulators. Notably, the Monetary Authority of Singapore – the country's de facto central bank – halted one token sale in March as it deemed the tokens securities since, in that case, they did represent equity ownership.
Y Ventures may be the first, but it is not the only public firm in the city state looking to venture into the ICO space.
Public entertainment company Spackman also said in February that it aims to issue a cryptocurrency called K Coin in an effort to raise funds for its celebrity business. It has not yet made any announcement about a formal launch, however.
DASH is among the first coins to be listed on bitto.tech
Bitto Platform ( https://bitto.tech ) is launching exchange by the end of the month, and DASH is one of the first coins to be listed.
More on Bitto: Licensed in Malaysia and UK, 4 more days of ICO and soon launching its platform - with trading as a one of the features.
You will be able to trade DASH for BTC and vice-versa. Second trading pair will be DASH / BITTO.
If you are interested in helping your favourite altcoin get listed, you can apply on Bitto's webpage.
Bitto Platform ( https://bitto.tech ) is launching exchange by the end of the month, and DASH is one of the first coins to be listed.
More on Bitto: Licensed in Malaysia and UK, 4 more days of ICO and soon launching its platform - with trading as a one of the features.
You will be able to trade DASH for BTC and vice-versa. Second trading pair will be DASH / BITTO.
If you are interested in helping your favourite altcoin get listed, you can apply on Bitto's webpage.
bitto.tech
Cryptocurrency Exchange | Bitcoin Exchange | Buy & Sell Bitcoin, Ethereum, Altcoins | bitto.tech
Invest in BITTO, The Next Top Licensed Cryptocurrency Exchange. Earn, and own a part of an Exchange. Giving you a life changing opportunity.
Cryptassist - The ultimate set of crypto-related tools all in one easy to use application.
One of the main problems in the cryptosphere is that over time, cryptocurrency has become more and more difficult for novices and even experts to understand and is not yet widely useable as a currency on a daily basis. Cryptassist will solve this problem by making cryptocurrency usable for everyone in everyday life. The Cryptassist mission is to supply everyone with unfettered access to the world of crypto-assets through an array of essential tools with everything from trading and news alerts, to an OTC exchange and even a debit card. There exists no platform which covers the breadth and width of this many crypto-related features in one platform.
"We strive to simplify every aspect of crypto trading and research so that everyone from the average holder to the experienced day trader has the same data and advanced resources to make an informed trading decision.”
Cryptassist solves the problem of complexity by supplying all of the necessary resources in one easy to access location.
For example, the Multi-Coin Block Explorer allows the user to enter one of many coins’ public addresses into one search bar instead of having to search for separate block explorers for each coin. But that’s just one of the many features Cryptassist offers.
THE APPLICATION AND BUSINESS MODEL
Many of the services offered by on the Cryptassist app will be free to use and other features such as Trading Alerts, Cryptstarter, and the OTC Exchange, will be pay-per-use features at a very reasonable cost.
THE CRYPTASSIST DEFLATION MODEL
Cryptassist introduces its innovative deflation model. The coins that are spent on the pay-per-use features of the app will then be burned. This continuously reduces the supply, therefore combating price resistance in the marketplace. Less supply encourages the value of the remaining coins.
CRYPTASSIST INITIAL COIN OFFERING
Cryptassist will accept contributions in both fiat - by Bank Wire or PayPal, and the top 100 cryptocurrencies as listed on CoinMarketCap at 12am CST on the 28 June 2018. Users will also be able to submit suggestions for other crypto currencies to: suggestions@cryptassist.io.
Website: https://www.cryptassist.io/
Telegram group: https://t.me/CryptAssistCoin
One of the main problems in the cryptosphere is that over time, cryptocurrency has become more and more difficult for novices and even experts to understand and is not yet widely useable as a currency on a daily basis. Cryptassist will solve this problem by making cryptocurrency usable for everyone in everyday life. The Cryptassist mission is to supply everyone with unfettered access to the world of crypto-assets through an array of essential tools with everything from trading and news alerts, to an OTC exchange and even a debit card. There exists no platform which covers the breadth and width of this many crypto-related features in one platform.
"We strive to simplify every aspect of crypto trading and research so that everyone from the average holder to the experienced day trader has the same data and advanced resources to make an informed trading decision.”
Cryptassist solves the problem of complexity by supplying all of the necessary resources in one easy to access location.
For example, the Multi-Coin Block Explorer allows the user to enter one of many coins’ public addresses into one search bar instead of having to search for separate block explorers for each coin. But that’s just one of the many features Cryptassist offers.
THE APPLICATION AND BUSINESS MODEL
Many of the services offered by on the Cryptassist app will be free to use and other features such as Trading Alerts, Cryptstarter, and the OTC Exchange, will be pay-per-use features at a very reasonable cost.
THE CRYPTASSIST DEFLATION MODEL
Cryptassist introduces its innovative deflation model. The coins that are spent on the pay-per-use features of the app will then be burned. This continuously reduces the supply, therefore combating price resistance in the marketplace. Less supply encourages the value of the remaining coins.
CRYPTASSIST INITIAL COIN OFFERING
Cryptassist will accept contributions in both fiat - by Bank Wire or PayPal, and the top 100 cryptocurrencies as listed on CoinMarketCap at 12am CST on the 28 June 2018. Users will also be able to submit suggestions for other crypto currencies to: suggestions@cryptassist.io.
Website: https://www.cryptassist.io/
Telegram group: https://t.me/CryptAssistCoin
CRYPTOCARZ IS THE WORLD'S FIRST BLOCKCHAIN-ENABLED VR RACING EXPERIENCE
CRYPTOCARZ IS A MULTIPLAYER, VIRTUAL REALITY (VR)-ENABLED RACING EXPERIENCE, DEVELOPED USING THE ETHEREUM BLOCKCHAIN.
To play, users will have to load the car assets into the game from an Ethereum wallet, where they are stored as an ERC721 token. The ERC721 token has paved the way for a new class of digital assets called non-fungible tokens (NFTs). These allow users to own, customise and maintain control in the
same way as in the physical world.
Blockchain Studios contends that this new asset class opens up new opportunities for user engagement and ownership. We believe that the first wave of innovation will come from gaming. CryptoCarz is the first platform to bring together blockchain, VR and gaming technologies. By giving gamers new options to visualise, own, adapt and race their own car, we think a new era in gaming has arrived.
WE BELIEVE GAMING IT WILL BE TRANSFORMED BY THE RISE – AND INTEGRATION – OF THREE TECHNOLOGIES: BLOCKCHAIN, E-SPORTS AND VR.
Each of them, independently, represents a paradigm shift for game development and consumption. Their attributes will make technology more individual, inclusive and immersive. The combination of these technologies will give rise to new scenarios, where gamers can own, modify, trade and play in an unprecedented way
THE CONCEPT
Cars, gaming and cryptocurrency are shared passions at Blockchain Studios, so combining them was a natural choice when we started working on CryptoCarz. We see strong synergies between the cryptocurrency community and gamers and we believe there is a market for a game that blends racing, cryptocurrency and blockchain technology. CryptoCarz is a multiplayer, fully immersive, VR-enabled racing experience, powered by the Ethereum blockchain. To race in the game, a user will have to demonstrate ownership of a car that is modelled and stored as an ERC721 Ethereum token in the gamer’s private wallet. The car will then be loaded into the game via integration with MetaMask and other proprietary tools
The game will initially offer 20 car models representative of the top cryptocurrencies. Each model will have a maximum of 650 units, hard-coded and numerically defined in the smart contract.No further cars in these models will be produced in the future.
Links:
Telegram Group: https://t.me/cryptocarz
Website: www.cryptocarz.io
Whitepaper: https://www.cryptocarz.io/docs/CryptoCarz_WP.pdf
One pager: https://www.cryptocarz.io/docs/CryptoCarz_1P.pdf
Twitter: https://twitter.com/cryptocarz
Medium blog: https://medium.com/@cryptocarz
CRYPTOCARZ IS A MULTIPLAYER, VIRTUAL REALITY (VR)-ENABLED RACING EXPERIENCE, DEVELOPED USING THE ETHEREUM BLOCKCHAIN.
To play, users will have to load the car assets into the game from an Ethereum wallet, where they are stored as an ERC721 token. The ERC721 token has paved the way for a new class of digital assets called non-fungible tokens (NFTs). These allow users to own, customise and maintain control in the
same way as in the physical world.
Blockchain Studios contends that this new asset class opens up new opportunities for user engagement and ownership. We believe that the first wave of innovation will come from gaming. CryptoCarz is the first platform to bring together blockchain, VR and gaming technologies. By giving gamers new options to visualise, own, adapt and race their own car, we think a new era in gaming has arrived.
WE BELIEVE GAMING IT WILL BE TRANSFORMED BY THE RISE – AND INTEGRATION – OF THREE TECHNOLOGIES: BLOCKCHAIN, E-SPORTS AND VR.
Each of them, independently, represents a paradigm shift for game development and consumption. Their attributes will make technology more individual, inclusive and immersive. The combination of these technologies will give rise to new scenarios, where gamers can own, modify, trade and play in an unprecedented way
THE CONCEPT
Cars, gaming and cryptocurrency are shared passions at Blockchain Studios, so combining them was a natural choice when we started working on CryptoCarz. We see strong synergies between the cryptocurrency community and gamers and we believe there is a market for a game that blends racing, cryptocurrency and blockchain technology. CryptoCarz is a multiplayer, fully immersive, VR-enabled racing experience, powered by the Ethereum blockchain. To race in the game, a user will have to demonstrate ownership of a car that is modelled and stored as an ERC721 Ethereum token in the gamer’s private wallet. The car will then be loaded into the game via integration with MetaMask and other proprietary tools
The game will initially offer 20 car models representative of the top cryptocurrencies. Each model will have a maximum of 650 units, hard-coded and numerically defined in the smart contract.No further cars in these models will be produced in the future.
Links:
Telegram Group: https://t.me/cryptocarz
Website: www.cryptocarz.io
Whitepaper: https://www.cryptocarz.io/docs/CryptoCarz_WP.pdf
One pager: https://www.cryptocarz.io/docs/CryptoCarz_1P.pdf
Twitter: https://twitter.com/cryptocarz
Medium blog: https://medium.com/@cryptocarz
Nvidia to see increased revenue despite crypto market slump, analysts Claim
Factset, a financial data firm, recently revealed that Nvidia’s second and third-quarter revenue will likely increase, according to various analysts. This, despite Nvidia’s reportedly declining sales of its graphics-processing units (GPUs) for cryptocurrency mining. An expected increase in revenue could come from the growing demand for Nvidia’s new chips, which are now being used by servers in large data-centers.
The giant chipmaker has also created specialized processors for self-driving vehicles, but it could take some time before their sales make a significant impact on its overall revenue. For now, the majority of Nvidia’s earnings may still be attributed to a huge growth in demand for its GPUs in the core gaming market.
Notably, total yearly revenue from Nvidia’s gaming graphics cards is projected to be around $1.75 billion, nearly 50% more than the previous year. Meanwhile, the California-based tech company expects its data-center earnings for 2018 to increase by a sizable 78% to $740 million.
C.J. Muse, a senior equity research analyst and managing director at Evercore, stated: “data Center/AI remains an area of strength, particularly when considering additional benefit of a new gaming cycle favoring Nvidia.”
Moreover, nearly 10% of Nvidia’s $3.2 billion Q1 revenue reportedly came from the crypto mining industry. Notably, earnings from GPU sales to crypto miners accounted for 76 percent of OEM (Original Equipment Manufacturer) revenue, Nvidia revealed.
While these numbers do represent a 115 percent growth from last quarter, Nvidia expects its crypto market revenue to drop by about two-thirds for Q2 of this year. This may be largely attributed to the declining prices of most cryptocurrencies.
Advanced Micro Devices (AMD), Nvidia’s primary competitor, also recently commented on its low revenue from the crypto mining sector. In fact, as reported by CryptoGlobe, the world’s largest chip manufacturer is expecting “near zero” revenue from the crypto and blockchain market for the next quarter.
Notably, AMD’s CEO Lisa Su referred to blockchain as “a bit of a distraction in the short-term”, something that doesn’t seem to be discouraging many other electronics companies from developing high-end chips specifically for cryptocurrency mining. Asus, a Taiwanese computer hardware company, said in May that it would be launching a “second-generation” crypto mining motherboard during third quarter 2018.
Factset, a financial data firm, recently revealed that Nvidia’s second and third-quarter revenue will likely increase, according to various analysts. This, despite Nvidia’s reportedly declining sales of its graphics-processing units (GPUs) for cryptocurrency mining. An expected increase in revenue could come from the growing demand for Nvidia’s new chips, which are now being used by servers in large data-centers.
The giant chipmaker has also created specialized processors for self-driving vehicles, but it could take some time before their sales make a significant impact on its overall revenue. For now, the majority of Nvidia’s earnings may still be attributed to a huge growth in demand for its GPUs in the core gaming market.
Notably, total yearly revenue from Nvidia’s gaming graphics cards is projected to be around $1.75 billion, nearly 50% more than the previous year. Meanwhile, the California-based tech company expects its data-center earnings for 2018 to increase by a sizable 78% to $740 million.
C.J. Muse, a senior equity research analyst and managing director at Evercore, stated: “data Center/AI remains an area of strength, particularly when considering additional benefit of a new gaming cycle favoring Nvidia.”
Moreover, nearly 10% of Nvidia’s $3.2 billion Q1 revenue reportedly came from the crypto mining industry. Notably, earnings from GPU sales to crypto miners accounted for 76 percent of OEM (Original Equipment Manufacturer) revenue, Nvidia revealed.
While these numbers do represent a 115 percent growth from last quarter, Nvidia expects its crypto market revenue to drop by about two-thirds for Q2 of this year. This may be largely attributed to the declining prices of most cryptocurrencies.
Advanced Micro Devices (AMD), Nvidia’s primary competitor, also recently commented on its low revenue from the crypto mining sector. In fact, as reported by CryptoGlobe, the world’s largest chip manufacturer is expecting “near zero” revenue from the crypto and blockchain market for the next quarter.
Notably, AMD’s CEO Lisa Su referred to blockchain as “a bit of a distraction in the short-term”, something that doesn’t seem to be discouraging many other electronics companies from developing high-end chips specifically for cryptocurrency mining. Asus, a Taiwanese computer hardware company, said in May that it would be launching a “second-generation” crypto mining motherboard during third quarter 2018.