SLP

Tether Launches Stablecoin Token on Bitcoin Cash via Simple Ledger Protocol

19/03/2020 by Idelto Editor

Tether, the world’s most popular stablecoin, will be using the Simple Ledger Protocol built upon the Bitcoin Cash network for issuing its tokens. Among other things, this means that millions of Bitcoin.com Wallet users will now be able to send and receive USDT via SLP tokens right within the app.

Also Read: Paypal Pullout Prompts Pornhub to Add Tether as Payment Option for Its Adult Models

Tether Joins The SLP Ecosystem

Tether, the venture behind the largest stablecoin by market cap, has announced the launch of its token on Bitcoin Cash via the Simple Ledger Protocol (SLP). USDT has a capitalization of over $5.5 billion, with the majority of tokens running on Ethereum as of today. Other cryptocurrency networks supported by Tether include Algorand, EOS, Liquid Network, Omni and most notably Tron.

Tether’s launch on SLP underlines its growing role within the cryptocurrency ecosystem. The protocol is an easy to use, robust and extensible token management system that allows anyone to create tokens on the Bitcoin Cash network in a permissionless way. It has helped the development of an ecosystem for BCH that replicates the variety of ERC20 tokens on the ETH network.

“A key strength of Tether is that it is underpinned by a rich diversity of different blockchains,” said Paolo Ardoino, CTO at Tether. “Our latest collaboration with Bitcoin Cash will provide Tether with a variety of benefits. We expect the adoption after launch to be pretty easy for any integrator. The launch will also support more applications on the Bitcoin Cash chain, with Tether facilitating payment for these applications.”

The Simple Ledger Protocol

SLP tokens can easily be created, traded, and managed on the Bitcoin Cash blockchain within seconds, while costing users only fractions of a penny for each transaction. All transactions are recorded onchain, and custom token behavior can be defined using a bitcoin Script development language.

Following a recent upgrade, millions of Bitcoin.com Wallet users have access to SLP tokens right in the app. With built-in token management support, users can send, receive, and store a variety of tokens that represent anything from dollar-pegged stablecoins to virtual gaming assets and company loyalty points, with the private keys held only by the user.

Lightning-Fast New Bitcoin.com Wallet App Proves Popular With Over 10 Million Total Wallets Created — SLP Tokens in the Bitcoin.com Wallet

“It’s extremely exciting to hear that the world’s biggest stablecoin will be using the Bitcoin Cash Blockchain and that the millions of Bitcoin.com wallet holders will be able to send and receive Tether using SLP tokens,” said Roger Ver, Executive Chairman of Bitcoin.com.

What do you think about Tether launching on SLP? Share your thoughts in the comments section below.

Images courtesy of Shutterstock.

Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.

The post Tether Launches Stablecoin Token on Bitcoin Cash via Simple Ledger Protocol appeared first on Bitcoin News.

SLP Token Fuels Scooter Rental Business in Taiwan, Investors to Get Their Dividends in BCH

10/03/2020 by Idelto Editor

A company running a small scooter rental service in Taipei, Taiwan’s capital city, has minted an SLP token on the Bitcoin Cash network to support its business and to attract investors and customers. The company issues its own cryptocurrency, a Simple Ledger Protocol (SLP) token. SLP is a token-based protocol built on top of the Bitcoin Cash (BCH) blockchain. It facilitates the creation of tokens that can serve various purposes depending on the needs of the issuer.

Also read: SLP Token Trading Platform Cryptophyl Adds BTC Pair With Bitcoin Cash at Flat 0.15% Fee

Taipei Scooter Offers Tourists a Fun Way to Get Around

Motor scooters are arguably the most popular means of transportation in Taiwan, a common sight on the roads of the densely populated island where there are almost 600 scooters per 1,000 people. In central Taipei, however, with its narrow streets and pedestrian areas, electric kick scooters have been gaining ground too. Locals and visitors alike often choose this smart and efficient way to move around in the urban jungle at a pretty low cost and without any carbon footprint.

Bitcoin Cash SLP Token Fuels Scooter Rental Business in Taiwan, Investors to Get Their Dividends in BCH — Scooters are a popular transport choice for commuters in Taiwan

Taipei Scooter is one of the scooter rental services in downtown Taipei. It operates in the heart of Ximending, a famous shopping and nightlife district of the Taiwanese capital. The company offers tourists and other customers the popular Segway model Ninebot Kickscooter ES2 at a $100 Taiwan dollars ($3.34) regular hourly rate and a daily rent of $600 (approximately $20). There are discounts too – the price for those who pay with crypto is at least 50% lower.

The company issues its own cryptocurrency, Taiwan Ebike Coin (E-BIKE), which is a Simple Ledger Protocol (SLP) token. SLP is a token-based protocol built on top of the Bitcoin Cash blockchain. It facilitates the creation of tokens that can serve various purposes depending on the needs of the issuer. Taipei Scooter is among a growing number of companies that see an opportunity to benefit from the flexibility SLP tokens offer.

Taiwan Ebike Coin Minted for Investors and Customers

E-bike also serves as an instrument to invest in the rental business which, according to its website, operates 15 electric scooters in the Taiwanese metropolis. The shop on 33 Hanzhong Street brings an average rental income of 5,000 Taiwan dollars daily (around US$170). The promise is that all profits will be distributed among Taiwan Ebike Coin holders, along with the rental fees special investors are entitled to. The company plans to pay out the dividends in BCH once every two months.

According to the Bitcoin Cash Block Explorer, Taiwan Ebike Coin was issued in December 2019. It has 104 token addresses now and 723 valid transactions since genesis. The circulating supply is 4,020,809,770. Taipei Scooter’s account on the BCH-based social network memo.cash, Taiwanebike, has been tipping followers with E-BIKE coins in the past several months. The company admits that travel bans related to the coronavirus outbreak have been hurting the tourist industry, although Taiwan is less affected by the epidemic than other countries in the region.

What do you think of Taipei Scooter’s efforts to attract investors and customers using an SLP token? Share your thoughts in the comments section below.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Images courtesy of Shutterstock, Taipei Scooter.

Are you a developer looking to build on Bitcoin Cash? Head over to our Bitcoin Developer page where you can get Bitcoin Cash developer guides and start using the Bitbox, SLP, and Badger Wallet SDKs.

The post SLP Token Fuels Scooter Rental Business in Taiwan, Investors to Get Their Dividends in BCH appeared first on Bitcoin News.

Belgium Startup Launches Smart Chip Hardware Wallet for SLP-Based Tokens

03/03/2020 by Idelto Editor

On March 1, the Simple Ledger Protocol (SLP) developers’ Twitter account revealed a new hardware wallet card for SLP tokens created by the Belgium-based company Satoshichip. The newly designed product is the first SLP token hardware wallet on the market and it works natively with the Electron Cash SLP wallet.

Also read: 13 Crypto Debit Cards You Can Use Right Now

A Bitcoin Cash Hardware Wallet With a Secure Chip and Low Form Factor

The Bitcoin Cash (BCH) community was pleased to hear about a new Simple Ledger Protocol (SLP) hardware wallet manufactured by satochip.io. The products developed by Satochip are hardware wallets that hold various cryptos like BTC, LTC, and BCH and they are shaped and sized like a traditional credit card. Since launching, the company has published auditable and open source code and the card’s app offers 2-factor authentication. In December 2019, a few BCH proponents wrote about the company’s Bitcoin Cash Hardware Wallet on Twitter and Reddit forums. “Works smoothly with Electron Cash,” Corentin Mercier tweeted two months ago.

Belgium Startup Satochip Launches Hardware Wallet for SLP-Based Tokens — BCH-based Satochip wallets can also be purchased at the Bitcoin.com Store.

The first edition Bitcoin Cash hardware wallet designed by Satochip is a limited series edition which contains three different designs. Moreover, the Satochip team explained that the BCH hardware wallet card is an “achievement of a year of hard work” for the developers. The startup’s name ‘Satochip’ stands for Secure Anonymous Trustless and Open Chip. And just like your traditional bank card or credit card, the Satoship BCH card uses a javacard applet. By leveraging a smart chip, the developers claim that it “encrypts information to increase data security when making transactions and storing keys.” The cards are weather-resistant and have a low form factor which the Satochip developers describe as:

Open and scalable standards that’s easy to customize, carry, load and share with crypto-friends.

Satochip Unveils the First SLP Token Hardware Wallet

After releasing the BCH-based card, on March 1, 2020, the Simple Ledger Protocol (SLP) development team revealed an SLP-based Satochip card. “Thanks to Satochip for creating the new hardware wallet design for the SLP community,” the developers tweeted. “We can’t wait to receive our first order.” The company’s web shop dedicated to the new SLP hardware wallet explains that the wallet is the “very first Bitcoin Cash SLP token hardware wallet.”

Thanks to @SatochipWallet for creating the new hardware wallet design for the SLP community! We can’t wait to receive our first order.https://t.co/pC21LkLtNk pic.twitter.com/0Qf9DzbTdH

— Simple Ledger Protocol (@SimpleLedger) March 1, 2020

This particular version works with the Electron Cash (EC) wallet as well but utilizes the SLP version of EC. “The design was made by the SLP community. You can now safely store your Spice, Honk, Sour and preferred SLP tokens in a safe place,” explains the Satoship website. Just like Satoship’s other card products, the SLP hardware wallet card is €25 per unit. The SLP card also includes a secure chip contact but users need to obtain the chip card reader in order to use the chip.

The BCH community on Twitter and Reddit discussed the new card and one user asked if the firm could release a demo of the card in action. Satochip does have a video on Youtube which has an explainer but the video is not quite a demonstration of the card. A number of Bitcoin Cash-based SLP tokens have gathered real-world value and a hardware wallet for SLP tokens would probably come in handy to a few SLP whales.

For instance, according to Markets.Bitcoin.com’s token section, configured to show SLP tokens only, seven different SLP tokens have exchange value. The Coinflex token FLEX has a $27 million market valuation and the market cap for Gocrypto’s GOC token is $10.6 million today. The community-based SPICE has a $604,000 market cap and many other SLP tokens like HONK, ACD, SAI, and USDH can be traded on a number of exchanges. Satochip’s new SLP hardware wallet aims to keep these tokens safe up until the moment someone wants to sell their SLP stash on an exchange.

What do you think about the SLP hardware wallet created by the startup Satochip? Let us know what you think about this product in the comments section below.

Disclaimer: This article is for informational purposes only. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Images credits: Shutterstock, Satochip, Simple Ledger Protocol, Bitcoin.com, Fair Use, Wiki Commons, Markets.Bitcoin.com token section, and Pixabay.

Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here.

The post Belgium Startup Launches Smart Chip Hardware Wallet for SLP-Based Tokens appeared first on Bitcoin News.

Bitcoin Cash House Ghana Finds Liquidity Provider, Seeks to Partner With Mobile Money Services

21/02/2020 by Idelto Editor

Bitcoin Cash House Ghana Finds Liquidity Provider, Partners With Mobile Money Services

Bitcoin Cash House Ghana has announced they’ve found a liquidity provider for converting between BCH and Ghanaian cedi, and are now preparing to furnish their building and move in, preparing for official launch on March 1. A new read.cash post from organizer Kousha detailed the status of the project and also initiated a small fundraiser for internet setup which has already surpassed its goal as of Tuesday. BCH House Ghana was inspired by the already operational BCH House Venezuela.

Also Read: Grassroots Bitcoin Cash House Movement Expands to Ghana

Cash House Movement Grows

Though not officially affiliated with BCH House Venezuela, the Ghana group’s implementation of the concept wanted to use the same name as a show of solidarity and community with the first version, and both have received support from Bitcoin.com. The project is free and decentralized, as concept creator Roberto Garcia notes in BCH House Venezuela’s recent update, which encourages anyone with the will to open their own local office to reach out for assistance and do so. BCH House Venezuela has been active since November last year.

Kousha, ambassador for the Ghana project, is located in Heidelberg, Germany, and is working with “man on the ground” Mohammed Mustapha Yakubum, who can be seen posing with the BCH House Ghana signboard in this article’s featured picture. The goals listed in Kousha’s update post on the crypto hub are four-fold: tutoring payment partners, “creating and listing cashaccounts for merchants based on location,” designing a website and map for customers on bchghana.org, and “Hosting a meetup to celebrate the official start of operations,” which is set for March 1.

BCH to Facilitate Remittances in West Africa

“Mobile Money Services flourishing in Ghana,” a picture caption in the post reads, “However, BCH is still cheaper and easier to utilize.” Payment partners signing up with the BCH House will be able to handle remittances for customers in cheaper fashion by utilizing bitcoin cash. Kousha writes:

These partners, providing a very similar product as mobile money services, will remit customer money easier, safer and still cheaper than the usual services.

Internet Costs Covered by BCH Tips, Locals Already Expressing Interest

In his read.cash update the ambassador details:

The house is painted and the BCH sign is installed and already attracting people, who are interested in investing in BCH. It’s a good sign (no pun intended), that there are already people out there, who don’t have to be convinced to open up to cryptocurrencies or Bitcoin Cash. And we are their perfect contact to get started right away.

Kousha goes on to note that while he will pay for some necessities like tables and chairs, BCH House Ghana must have their internet set up “In order for the attendees of the upcoming BCH House ‘opening’ meetup to be able to receive their first Bitcoin Cash, USDH or Lead transaction,” and that “we want to have the Wifi installed until the end of February.” He clarifies that the tips for the article will go toward the internet connection, which costs $75 for one year. The article at time of writing has already garnered over $250 in tips.

Safarri Project

Those that tipped toward the internet fund are to receive BCH House Ghana’s own SLP token as a reward, and Kousha affirms he is planning on using the dividends function to reward supporters down the road should the project be successful.

“At first these tokens may not mean much more than an honoring badge,” the organizer explains, “But based on how big our project gets over time, we will find a way to reimburse your active support, when it was needed the most, in future funding campaigns and SLP dividends.”

The token is to be minted at the end of the fundraising period on February 21, and is part of the larger vision for what the initiative calls the Safarri Project, which will equip payment partners in the money changing business to act as remittance services via BCH. Information about these partners will be included in the next read.cash update, according to the BCH House Ghana ambassador, and those looking to keep abreast of the latest info can also join the official Telegram group.

Anybody Can Start a BCH Project

The permissionless and decentralized nature of bitcoin cash allows for anyone with a cause to freely take action. Like the BCH House crypto resource hubs, BCH charities have also been started in diverse locations with no official connection to one another, but with the same overarching goal of bringing more economic freedom to the world. Charity initiative Eatbch, for example, is located in both Venezuela and South Sudan, though the groups are independently operated.

Eatbch leverages bitcoin cash to feed impoverished communities and is a grassroots project, not dependent on regulators or politicians to function. Since BCH is a borderless money with negligible transaction fees, anyone with an idea and the resolve to get started can do so.

What do you think about the developments at BCH House Ghana? Let us know in the comments section below.

Images courtesy of Shutterstock, BCH House Ghana, Eatbch, fair use.

Want to create your own secure cold storage paper wallet? Check our tools section. You can also enjoy the easiest way to buy Bitcoin online with us. Download your free Bitcoin wallet and head to our Purchase Bitcoin page where you can buy BCH and BTC securely.

The post Bitcoin Cash House Ghana Finds Liquidity Provider, Seeks to Partner With Mobile Money Services appeared first on Bitcoin News.

Market Update: Bitcoin Halving Hype, Golden Cross Signals, and GBTC’s 41% Premium

19/02/2020 by Idelto Editor

Cryptocurrency markets have seen fresh gains on Wednesday after the slight pullback that started two days prior. Most of the top 10 digital currencies by market cap have gained between 4-8% and the entire market valuation of all cryptos has hovered between $295-300 billion.

Also Read: Voluntary Financing: Bitcoin Cash Devs Reveal Noncustodial Funding App Flipstarter

Crypto Markets Shave Prior Losses and Show Daily Gains

On Wednesday, February 19, digital currency markets are in a sea of green again after a day or two of losses throughout Sunday and Monday’s trading sessions. Today most of the top 10 digital assets besides tether (USDT) are up between 4-8% but Tezos (XTZ) has captured the tenth position as XTZ is up 17.8% in the last 24 hours. BTC has once again surpassed the $10K zone and is currently meandering around $10,075-10,150 per coin. The digital asset is up over 4.7% today and has erased most of the losses from two days ago.

Ethereum is up 5.7% during the last 24 hours and has gained around 8.8% during the last seven days. Right now, ETH is swapping for $279 per coin and market aggregators show $3.8 billion in reported trade volume but Messari.io’s real volume for ETH today is only $646 million. XRP still commands the third-largest market cap and each coin is trading for $0.29. The currency has gained over 4% during the last 24 hours of trades.

Bitcoin Cash (BCH/USD) Market Action

Bitcoin cash (BCH) currently captures the fourth position on Wednesday as far as market valuation is concerned. At press time, BCH is trading for $413 per coin and the currency has gained 5% today. The top five pairs swapped with BCH today are USDT (67.07%), BTC (17.53%), USD (10.01%), KRW (2.07%), and ETH (1.50%). The reported volume on Wednesday for BCH is $750 million, but real volume data shows $37 million in 24-hour trades. During the last 30 days, BCH has gained 3.4% but 90-day data shows around 84% in gains. For the last year, bitcoin cash has done very well, gaining 193% during the last 12 months.

Fxstreet analyst John Isige explained on Wednesday that the BCH/USD market managed to hold the $400 threshold and is currently focused on $500. ”Bitcoin Cash bulls struggle to beat the seller congestion at $425 in readiness for gains aiming for $500,” Isige noted. “Development in terms of recovery has been very forthcoming in a couple of days after BCH downside took a breather at $375. Aiding in the support was the 200SMA in the 4-hour timeframe. BCH/USD is back in the limelight above $400 and focused on sustaining gains above $425,” the analyst added.

Searches for the Term ‘Bitcoin Halving’ Surge

Every 210,000 blocks, the BTC block mining reward halves and the coin reward decreases for miners hunting for blocks. The same event will happen on the BCH and BSV networks one month prior to BTC’s change, as coin rewards will be reduced from 12.5 to 6.25 coins. Right now, conversations about the halving are trending on social media platforms and forums like Twitter and Reddit.

Alongside this, Google Trends reveals searches for the term “bitcoin halving” have been steadily gaining traction. BTC’s halving is estimated to take place on May 12, 2020, 82 days from now. Google Trends (GT) shows the term “bitcoin halving” has a 75 value and recently crossed a GT value of 50. It’s following a similar pattern to four years ago prior to the BTC halving in 2016.

The Confounded Golden Cross

This week traders have been talking about BTC charts showing a bullish indicator called the “golden cross” on social media and forums. Basically this means that the 50-day moving average crossed the 200-day moving average and this signal usually precedes a bull run. The golden cross is the opposite of a “death cross” which is a bearish signal. When the short-term moving average jumps above the long-term moving average, traders often believe a major rally will follow.

#BTC …. BTC will touch 9k than continue upside movement…and also golden cross coming..so still in bullish on BTC..Not panic selling 9k is buying opportunity#BTC #ETC #EOS #ETH #LTC #BTC #cryptocurrencies #crypto #bitcoin #Altcoins #Binance #LTC #EOS #trading #blockchains pic.twitter.com/sDZIaksIkG

— Kvcrypto (@Kvcrypto1) February 17, 2020

The popular bitcoin trader Cryptobull explained the golden cross move when it happened on February 17. “Ladies and gentlemen… let me present the golden cross — The last time this happened was April 24th, 2019 at $5,400 — Before that was October 28th, 2015 at $300,” Cryptobull tweeted. However, not all golden crosses and death crosses materialize into anything, as one Twitter personality recently pointed out. “1/3 bitcoin golden cross/death cross-analysis,” said Sh___coin Riddler. “Since 2014 there were 10 golden/death crosses (50MA crossing 200MA). In 3 of 5 death crosses cases BTC price didn’t dump after the event [and] in 2 of 4 golden crosses cases BTC price didn’t pump after the event.”

Grayscale’s GBTC Premium 41%

News.Bitcoin.com recently reported on Grayscale’s Bitcoin Trust (GBTC) seeing an uptick in demand and a 20-30% premium. This means investors are willing to pay more for GBTC than simply purchasing BTC on a traditional spot market. Investors who want to participate in a regulated environment have invested in Grayscale’s GBTC and this week the premium for the investment vehicle jumped to 41%. The CEO of Blockforce Capital, Eric Ervin, noticed this trend on February 18 and premiums have continued nearly every day since. “GBTC premium now up to 41%,” Ervin tweeted. “People want exposure to cryptocurrency and are willing to pay a significant premium to get it. Dear SEC, it is time for an ETF. Give investors the opportunity to make their own decisions.”

The Biggest Stablecoin Is Rumored to Be Coming to Bitcoin Cash

In a video posted to the Cryptofinder Youtube channel, the executive chairman of Bitcoin.com, Roger Ver, discussed the importance of the Simple Ledger Protocol (SLP) framework on the BCH network. Ver explained how anyone can issue tokens using BCH in a permissionless manner and he talked about stablecoins leveraging the SLP infrastructure.

During the video, Ver noted that “a little birdie told me the world’s biggest stablecoin, Tether, is about to launch on top of SLP as well.” Tether, the largest stablecoin by market cap and by transactions, is hosted on a variety of blockchains like Ethereum, Tron, and Algorand. News.Bitcoin.com reached out to members of the Tether team and our newsdesk will have more on this story soon.

Where do you see the cryptocurrency markets heading from here? Let us know what you think about this subject in the comments section below.

Disclaimer: Price articles and market updates are intended for informational purposes only and should not be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.” Cryptocurrency prices referenced in this article were recorded at 9:30 a.m. ET on February 19, 2020.

Images via Shutterstock, Trading View, Bitcoin.com Markets, Twitter, Eric Ervin’s tweet, Fair Use, Wiki Commons, Twitter, and Google Trends.

The post Market Update: Bitcoin Halving Hype, Golden Cross Signals, and GBTC’s 41% Premium appeared first on Bitcoin News.