bitcoin cash BCH

Crypto Economy Nears $2 Trillion, XRP Gains 37%, BTC Dominance Drops to 56%

05/04/2021 by Idelto Editor

Digital currency markets have seen some significant gains on Monday as the entire market capitalization of all 8,500+ cryptocurrencies in existence has jumped a few percentages. Bitcoin’s price has spiked a touch over 1.5%, but a number of other coins have seen much larger gains during Monday’s trading sessions. Market aggregators show the crypto economy’s overall valuation is steadily approaching the $2 trillion handle.

Crypto-Economy Jumps 3% and Nears $2 Trillion in Valuation

Crypto assets have seen their values jump northbound on Monday as the entire crypto-economy has spiked 3% during the morning trading sessions (EST). Bitcoin (BTC) has risen by 1.9% and during the last seven days, BTC has gained 2.3%. The leading cryptocurrency, in terms of market valuation, BTC is currently exchanging hands for over $59k per unit. Ethereum (ETH) has done much better as the crypto asset has jumped over 16% this week and ether is swapping for $2,117 per coin.

Binance coin (BNB) has seen a massive 8.39% gain during the last 24 hours and is up a whopping 35.4% this week. The digital currency BNB is trading for $374 per unit on Monday. The fifth-largest market valuation is held by Polkadot (DOT) which is swapping for $44 per unit. Cardano (ADA) has jumped 2% today and each ADA is trading for $1.21 during the morning trading sessions. ADA is down 0.21% during the last week but is still up 6.26% over the last 30 days.

Ripple Starts to Rip, While Bitcoin Cash Gathers an 11% Lead

One of the biggest movers on Monday is XRP which has spiked 37.4% during the last day alone. XRP has been doing extremely well for investors as XRP has gained 68% during the last month. XRP is currently exchanging hands for $0.824 per unit.

Bitcoin cash (BCH) has shined on Monday as well jumping 12% against the U.S. dollar today and 9.3% against BTC. Bitcoin cash is trading for $626 per unit and prices are up +17.56% during the last week and 21.78% against the USD.

Today’s biggest gainers are the IOV blockchain token (IOV) up 323% and hitchain (HIT) up 208%. Paid (PAID) token is down 55% today and the coin elysian (ELY) is down 46% making up Monday’s biggest market losers.

What do you think about today’s crypto market movements? Let us know what you think about this subject in the comments section below.

Ethereum Sets a New All-Time High Above the $2K Handle, Bitcoin Cash Markets Jump 8%

02/04/2021 by Idelto Editor

The price of ethereum tapped a new all-time high (ATH) on Friday afternoon reaching an ATH of around $2,072 around 12 p.m. (EST). Today, ethereum’s market capitalization captures 12.3% of the crypto economy’s overall $1.9 trillion market valuation. Meanwhile, as ether prices jumped over 6%, the crypto asset bitcoin cash has spiked over 8% nearing $600 per unit during the afternoon trading sessions.

Ethereum Markets Shine

While bitcoin (BTC) prices have been sitting just under the $60k per unit zone, a number of crypto assets are seeing strong gains. Yesterday it was dogecoin (DOGE) and filecoin (FIL) ramping up the action, but today all eyes are on ethereum (ETH) and bitcoin cash (BCH).
Ethereum prices touched an ATH on Friday reaching $2,072 per ether and the crypto asset has managed to stay above the $2k handle. During the last seven days, ETH is up over 20% and a whopping +165.03% during the last three months.
Just recently the billionaire investor Mark Cuban touted ethereum (ETH) as “the closest we have to a true currency.” “Smart contracts came along, and that created defi and NFTs. That’s what changed the game,” Cuban stressed during his interview.

On Friday afternoon, the top trading pairs with ethereum (ETH) include tether (USDT) capturing 48% of all trades, BTC (17.7%), USD (13.7%), BUSD (6.4%), and EUR (3.3%). The South Korean won commands 3.3% of ether trades as well on April 2.

Bitcoin Cash Raises the Bar

Bitcoin cash (BCH) has been nearing the $600 per BCH region and is currently just under the psychological handle at the time of publication. BCH saw an 8.42% 24-hour gain today and has captured 18.4% during the last week.
BCH has jumped 4.87% against BTC today, and 66.27% against the U.S. dollar over the last 90 days. In recent times, BCH has been seeing far more confirmed transactions per day as well with 356,844 during the last day, while BTC has seen 298,851.

Kim Dotcom has been discussing the benefits of bitcoin cash (BCH) a lot and recently discussed the subject in a Clubhouse room with a number of BTC maximalists. “I joined a Clubhouse room full of bitcoin maximalists,” Dotcom tweeted on Thursday. “I was moved on stage and asked why I support bitcoin cash. The merits of my argument were so powerful that the laser-eyed Bitcoin crowd wanted to burn it off the Internet, without success.”
Besides ETH and BCH, Friday’s biggest gainers include faceter (FACE) up 80.21%, insureum (ISR) up 80.08%, and PRVS gaining 71.38%. Today’s biggest losers during the last 24 hours include cryptaur (CPT) down 40.14%, PAID token down 39.54%, and spendchain (SPND) 35.51%.

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What do you think about ethereum and bitcoin cash market gains today? Let us know what you think about this subject in the comments section below.

The Power of ETH and BCH: Smart Bitcoin Cash Project Highlights Innovative Sidechain

02/04/2021 by Idelto Editor

On Thursday, Bitcoin Cash proponents were introduced to a new website that features a project called Smart Bitcoin Cash or Smartbch for short. Essentially, the project is a sidechain for Bitcoin Cash that is compatible with Ethereum’s EVM and Web3 API, which means people will soon be able to leverage decentralized applications (dapps) without paying lots of money for transaction fees.

Bitcoin Cash Fans Introduced to a Unique Ethereum and Web3-Compatible Sidechain

At the time of writing, Ethereum is the dominant chain when it comes to Web3 applications and decentralized finance. However, ethereum (ETH) fees to interact with a Web3 compatible dapp or some type of smart contract can be very expensive these days. The Smartbch project aims to change all that and the creators plan to make throughput as large as one billion gas every 15 seconds.

The new website called smartbch.org says the sidechain will essentially maximize throughput of EVM and Web3 tools. The website gives a person a comprehensive look at what Smart Bitcoin Cash aims to accomplish with a FAQ, documentation, community resources, and even jobs and bounties.

“Smart Bitcoin Cash’s innovation lies in libraries,” the core components mentioned in the project’s white paper notes. “Instead of inventing fancy consensus and cryptographic algorithms, we decided to adopt another methodology: to develop low-level libraries with an aim to fully uncover the hardware’s potential, especially its inherent parallelism. Ordinary users and developers are provided with a compatibility layer supporting EVM and Web3, so the optimized low-level “close to the metal” libraries themselves remain concealed by this layer of abstraction. During the implementation, we used the codename ‘Moeing,’ which is added to the libraries’ names as prefix.”

Five Tools and Many Benefits

Smartbch leveraged five tools that will be greatly beneficial to the sidechain’s ecosystem. MoeingADS single-layer architecture, the MoeingEVM parallelized execution engine, the MoeingDB application-specific database, MoeingKV storage, and the MoeingAOT compiler for the EVM. The project’s website notes that programmers can “build a new playground for Bitcoin Cash’s ecosystem and enlarge the user base.”

Smartbch will also offer:

EVM and Web3 compatible and has a short block interval to support defi-applications.
The throughput will be as large as one billion gas every 15 seconds to allow more users to practice defi at a very low cost.
Has been developed from scratch and is made of several low-level libraries which fully leverage the potential of hardware, especially its inherent parallelism.
Earn an extra reward for Bitcoin Cash’s miners and holders, who can elect Smart Bitcoin Cash’s validators with hashpower and locked coins, respectively.
Develop trustless non-custodian two-way pegged gateways, which can support any kinds of side chains of Bitcoin Cash for securely transferring BCH bidirectionally. This enables Bitcoin Cash to include more side chains for a richer ecosystem.

Bitcoin.com’s newsdesk was the first to report on the Ethereum and Web3-compatible sidechain coming to Bitcoin Cash during the first week of March. Of course, the BCH community on Reddit loved the idea and many supporters wrote a comment about the project on r/btc.

“We are working with the Smartbch team and have a test node running. Should have the Uniswap contract working this weekend,” one programmer wrote on the forum. The first release of version 0.1.0 of Smartbch is now available and developers can help test a dapp on Smartbch. Programmers can also download the source code and start a single node testnet. At the time of publication, bitcoin cash (BCH) is exchanging hands for $560 per unit, up 2.3% during the last 24 hours.

What do you think about the Smartbch project and the Ethereum and Web3-compatible sidechain coming to Bitcoin Cash? Let us know what you think about this subject in the comments section below.

US Judge Dismisses Antitrust Case Accusing Bitmain, Kraken, and BCH Devs of Manipulation

01/04/2021 by Idelto Editor

A U.S. court in Miami has dismissed an amended complaint in the lawsuit that accused nine defendants including Kraken founder Jesse Powell, Bitcoin.com founder Roger Ver, Bitmain’s Jihan Wu, and a few open-source Bitcoin Cash developers of collusion. U.S. Magistrate Judge Chris McAliley dismissed the amended complaint under Federal Rule of Civil Procedure on March 31, 2021.

Cased Dismissed

Back in 2018, after the Bitcoin Cash (BCH) and Bitcoinsv (BSV) network split, a Florida-based blockchain company called United American Corp – “Unitedcorp (UAC)” attempted to sue a number of well known cryptocurrency veterans and developers. UAC and its lawyers said that the nine defendants were allegedly involved in a scheme in order to manipulate the cryptocurrency market for bitcoin cash (BCH). The court case went on for over two years and on February 3, 2020, Judge Chris McAliley dismissed the case against the defendants without prejudice, which meant that the firm could amend the complaint.

Now a new court filing shows that Judge Chris McAliley has once again dismissed the amended complaint under Federal Rule of Civil Procedure on Wednesday, March 31, 2021. McAliley discussed a number of the complaints UAC’s attorneys set out to argue and the Magistrate noted that the allegations did not plausibly suggest such transgressions.

United American Corp ‘Failed to Allege Facts’

UAC further accused defendants of “bid-rigging,” a form of horizontal price-fixing, but said, “UAC makes no argument that the exchange and developer defendants engaged in big rigging, and the court can imagine none.”

As far as the antitrust violation, McAliley’s order said that the argument had failed. “As stated, the court concludes UAC failed to allege facts that plausibly suggest defendants committed an antitrust violation. I, therefore, do not address whether UAC has adequately alleged that it has antitrust standing,” McAliley added.

The Miami judge concluded:

For the foregoing reasons, the court hereby grants [the] defendants’ joint motion to dismiss [the] first amended complaint under Federal Rule of Civil Procedure.

UAC can try to continue the case by making an appeal to the U.S. Court of Appeals for the Eleventh Circuit within 30 days. McAliley’s order further emphasized that “it would be futile to allow UAC to further attempt to state a claim that Defendants violated the Sherman Act— Accordingly, the court dismisses the complaint with prejudice,” the Miami judge added.

What do you think about UAC’s case being dismissed by a Florida Judge? Let us know what you think about this subject in the comments section below.

Developers Launch the First Hosted Noncustodial Payment Processor for Bitcoin Cash Payments

29/03/2021 by Idelto Editor

Bitcoin Cash proponents have recently been introduced to a new noncustodial payment processor called Prompt.cash. The platform provides merchants with a simple way to accept peer-to-peer electronic cash payments and can also generate a new address per invoice.

Prompt.cash: A Hosted Noncustodial Payment Processor for Accepting P2P Electronic Cash

A number of innovative applications that leverage the crypto asset bitcoin cash (BCH) are on the horizon. In recent times, BCH fans have been introduced to a newly created payment processor called prompt.cash, a platform that allows people to accept BCH in a noncustodial fashion.

The main developer behind the project is a well known programmer who goes by the name Ekliptor. The dev has 16+ years coding experience and has been working with bitcoin cash payment systems for years now. The engineer also developed cashtippr.com, a WordPress plugin that allows website owners to receive instant tips.

Speaking with Bitcoin.com’s newsdesk, Ekliptor told us why he started working on the prompt.cash noncustodial payment processor. “My experience from this has been that many people in the BCH community asked for a simpler solution and one that they can also put onto non-Wordpress websites within a minute by just copy and pasting,” Ekliptor said.

“Custodial payment processors (our competitors) are like a bank,” the developer added. “They own the money they receive and then later the merchant can withdraw the money into his or her own wallet (or not in case of compliance issues or a security breach). Our noncustodial processor works like ‘Software-as-a-Service’ instead of being a bank. This means every payment arrives directly in the wallet of the merchant. We can not freeze or hold the merchant’s money as we are not part of the transaction,” he added.

Ekliptor continued:

And all this in a more convenient and even easier setup than custodial processors without the usual banking/KYC paperwork.

Digital Entrepreneurs Donate Funds to the Prompt.cash Flipstarter

The Prompt.cash project also has a Flipstarter fundraiser going on right now, as the developers are raising 390 BCH. The Flipstarter description details that the team’s Prompt.cash platform is the first hosted noncustodial Software-as-a-Service payment processor.

“[The application] allows integration without bureaucracy and enables our merchants to integrate us within minutes,” the Flipstarter descript explains. “We already have a working payment processor implemented in Go, following best practices and code standards.”

So far, the Prompt.cash project has raised 206 BCH or over $100k worth of bitcoin cash. Bitcoin.com’s founder and angel investor, Roger Ver sent the project 101.15 BCH. The popular digital entrepreneur Kim Dotcom sent the Prompt.cash project 100.8 BCH. “Exciting times,” the creator of the content monetization platform K.im added in his comment.

The Flipstarter also notes that the Prompt.cash application has been live for about a month so far and signed 50 merchants to-date. Bitcoin.com’s readers can read more about the Prompt.cash project and the Flipstarter fundraiser here.

What do you think about the noncustodial payment processor project Prompt.cash? Let us know what you think about this subject in the comments section below.