SLP

Bitcoin.com Wallet Launches New Portfolio Breakdown and Stablecoin Swap Features

07/07/2020 by Idelto Editor

With over 11 Million Bitcoin.com Wallets created, we’re building new features our users need most in order to enjoy the best possible cryptocurrency experience. Our wallet’s latest features now provide seamless swaps between bitcoin (BTC), bitcoin cash (BCH), and the stablecoin honestcoin (USDH). Moreover, Bitcoin.com’s new portfolio breakdown allows users to manage their assets with ease.

Bitcoin.com is the premier destination for all your bitcoin needs with crypto-infused tools, the hottest digital currency news, a gaming platform, educational resources, and a powerful noncustodial wallet.

This week Bitcoin.com is pleased to reveal two new features that have been added to the noncustodial bitcoin (BTC), bitcoin cash (BCH) wallet, alongside Simple Ledger Protocol (SLP) token support. The new portfolio breakdown provides Bitcoin.com Wallet users with asset distribution and SLP pricing according to the July 3, 2020 release notes. Additionally, “improved swap support” has been added to the upgraded version.

Cryptocurrency markets can be volatile and our new portfolio section with stablecoin support helps individuals manage crypto-asset risks better. After upgrading to the latest version of the Bitcoin.com Wallet, in the home section, the user simply needs to scroll down to the bottom of the wallet screen. There the individual will see the asset breakdown between bitcoin cash (BCH), bitcoin (BTC), honestcoin (USDH), and the value of any other types of SLP tokens.

The asset breakdown gives the user a percentage rate, and on the right side of the tab it says “swap.” When an individual simply presses the “swap” button, it leads to a section where they can trade BCH, BTC, and USDH in a seamless fashion. The trades are powered by Sideshift.ai and if the person is trading for USDH, they need to enter their SLP address.

The swap section allows the user to configure how much they want to swap and it offers a live exchange rate as well for price referencing. Honestcoin (USDH) is a fully regulated, 1:1 U.S. Dollar-backed stablecoin that can be bought, sold, invested in, and spent as freely. When swapping for USDH, the Bitcoin.com Wallet allows instant settlement without confirmations, so balances of USDH will show up immediately.

People who haven’t tried the lightning-fast, noncustodial Bitcoin.com Wallet can download the platform for Android or iOS devices. In order to leverage the two new asset breakdown and swap features, existing users simply need to upgrade their applications.

At Bitcoin.com we understand that volatility isn’t for everyone. That’s why the latest Bitcoin.com Wallet gives any individual, from anywhere around the world, full control over their digital assets.

What do you think about the latest Bitcoin.com Wallet features? Let us know in the comments section below.

The post Bitcoin.com Wallet Launches New Portfolio Breakdown and Stablecoin Swap Features appeared first on Bitcoin News.

The Tokenized Metaverse: Non-Fungible Token Sales to Surpass $100 Million

06/07/2020 by Idelto Editor

On July 1, 2020, the partner of Polynexus Capital, Andrew Steinwold, detailed that the sales of blockchain-powered non-fungible tokens (NFTs) are about to cross the $100 million mark. The popularity of NFTs has grown massive since 2017, as blockchain cards, collectibles, digital artwork, virtual land parcels, and extensible virtual game items have become all the rage.

Blockchain-Fueled Non-Fungible Token Assets Close to $100M in Sales

Andrew Steinwold the managing partner at Polynexus Capital is a big believer in non-fungible token (NFT) solutions built using blockchain technology. NFTs have been around for years and the first mention of NFT technology stemmed from the Mastercoin white paper in 2012. Over the years, news.Bitcoin.com has reported on a number of blockchain projects that leverage NFT solutions like Counterparty’s Rare Pepe trading cards, Spells of Genesis cards, Cryptokitties, extensible game items and rewards, and many more unique concepts.

Decentraland where NFT-based parcels of land and extensible items are sold.

In a recent post written on the blog called “Bankless,” Steinwold notes that the NFT sales have amassed close to a $100 million worth of lifetime trade volume. The data stems from the web portal nonfungible.com, which gives a comprehensive overview of the NFT ecosystem. Steinwold thinks that the $100 million mark is just the start of the NFT evolution and the economy will grow much bigger going forward. “I believe NFTs will be a trillion-dollar market someday,” Steinwold stressed. “That means $999.9 billion in future opportunities. We’re just .01% of the way in.” Steinwold added:

We’ve talked about redemption NFTs in the past. We’ve learned about NFTs across gaming, art, culture, collectibles, and domains. But we’ve never zoomed out to look at the market as a whole. What are the categories? collectibles, gaming, worlds, art, culture. Which categories are winning? Volumes, value, [and] projects.

Nonfungible.com stats show that as of July 5, 2020, the total sales of NFTs is around $96.1 million so far.

Close to 20,000 Opensea Wallets and $2.5M in Monthly NFT Trade Volume

Steinwold’s data shows there are 18,552 wallets on Opensea and there is $2.5 million in global NFT trade volume on a monthly basis. As of June 5, 2020, the total lifetime trade volume of NFTs is around $96.1 million so far. The average price is around $20.90 per NFT according to nonfungible.com and Steinwold’s statistics.

The NFT projects n0wear and cryptopunks.

“With December 2017 as our starting point, the NFT market has only been around for ~2.5 years, an extremely small amount of time compared to bitcoin (11 years) or traditional markets (hundreds of years),” Steinwold highlighted. “While monthly trade volumes are low at roughly $2M per month, the NFT market has seen a steady increase over time.” Steinwold says the aforementioned data shows just how early it is when it comes to NFT technology.

“The above stats show just how early we are in a market that one day could be worth trillions of dollars — Of course, that trillion-dollar figure will only be reached once there’s a functioning metaverse, but I strongly believe we are headed in that direction,” Steinwold said. The Polynexus Capital partner further stated:

Perhaps the most shocking statistic is the number of wallets on Opensea: about 18,500 wallets have either purchased or sold an NFT. Since Opensea is the dominant NFT marketplace, this metric should give us a rough indication of the current number of NFT users overall.

Some of the projects Steinwold mentions include NFT ideas like Cryptopunks, Cryptokitties, Avastars, Gods Unchained, Axie Infinity, My Crypto Heroes, Crypto Space Commanders, Decentraland, Cryptovoxels, Somnium Space, The Sandbox, Async Art, Superrare, Nifty Gateway, Knownorigin, Makersplace, n0wear, Zora, and Foundation. Steinwold also mentions the possibilities of “ticketing for events, property titles, [and] digital identity” concepts.

Rare pepe and Spells of Genesis trading cards were one of the earliest versions of colorful and artistic versions of NFT technology.

A number of blockchains provide NFT technology but the most dominant is Ethereum by a long shot. Other blockchains like Bitcoin (BTC) and Bitcoin Cash (BCH) can also be leveraged to created NFTs. In August 2019, the Simple Ledger Protocol (SLP) developer, James Cramer, announced the launch of the Electron Cash SLP version 3.5, which allowed the creation of non-fungible tokens that can be grouped together by a single ID. News.Bitcoin.com has published a step-by-step walkthrough on how to create non-fungible assets and collectible tokens with Bitcoin Cash.

The Growth of the Metaverse Is a Very Big Deal

Moreover, Forbes published an editorial on the coming of the metaverse on July 5 and exclaimed that “it’s a very big deal.” Columnist Cathy Hackl writes that today’s foundations concerning the metaverse are being built as we speak.

“Today, the metaverse is a shared virtual space where people are represented by digital avatars (think Ready Player One),” Hackl writes. She adds:

The virtual world constantly grows and evolves based on the decisions and actions of the society within it. Eventually, people will be able to enter the metaverse, completely virtually (i.e. with virtual reality) or interact with parts of it in their physical space with the help of augmented and mixed reality.

NFTs are going to be a big part of this growth according to Steinwold, and the innovations are just getting started. “When comparing these physical uses to gamers doing some new behavior in a virtual environment, the pace of innovation is often much higher in the digital world,” Steinwold’s observation concludes. “Going forward, I expect more differentiated NFT categories to arise and NFT market activity to increase dramatically.”

What do you think about the non-fungible token economy sales coming close to reaching $100 million so far? Let us know what you think about this subject in the comments section below.

The post The Tokenized Metaverse: Non-Fungible Token Sales to Surpass $100 Million appeared first on Bitcoin News.

Simple Ledger Protocol Universe Is Thriving: Lottery, Mint, ATMs, Over 8,500 SLP Tokens Created

21/06/2020 by Idelto Editor

It’s been close to twelve months since we reported on the vast Simple Ledger Protocol (SLP) universe built on top of the Bitcoin Cash chain. At the time, there were 2,700 unique SLP tokens created, and that’s increased by 217% during the last year with 8,585 SLP tokens created to-date. A number of different projects are leveraging the tokenization protocol, as Tether has announced using the SLP framework, a video game called “Enter the Sphere” has spawned, an SLP Lottery was created, and there’s now an SLP Foundation.

There’s a lot going on in the world. Especially with Covid-19 and as far as the global economy is concerned, and unfortunately, it’s stopped a number of people from paying attention to what’s being built using the Simple Ledger Protocol (SLP). At the time of publication, there’s a whopping 8,585 SLP tokens today, 10,972 token burns (removed from existence), and approximately 34,255 SLP transactions.

The last time, news.Bitcoin.com covered the SLP universe to a greater extent, there were only 2,700 tokens on July 29, 2019. Some of the most popular tokens being used today, according to the SLP token data and transaction explorer, Simpleledger.info include Honk Honk, the Tribeos Test Token, Spice, Tribeos Ghost Token, Sour, Bread, and Cryptophyl’s Drop.

Other popular tokens being leveraged a lot more than most include tokens like goldcoin, renewable.cash, Sai, Flex, ACD, and the stablecoin Honestcoin.

On June 20, 2020, a post on the Reddit forum r/btc told the public that an SLP enhanced video game is on the way. The video game has a website called enter-the-sphere.com and the web page says there is “up to 10 million SPICE for grabs ultimately.”

According to the creators, The Sphere is a roleplaying (RPG) collectible game, and the pre-alpha testing period is limited to 150 sign-ups. The Sphere’s website further states:

The Sphere is a game where the most powerful and exotic resources in the universe lie on a planet protected by an impenetrable energy barrier. A wasteland of a once advanced magical technological civilization. You enter with an avatar of your creation, customized by your own arsenal and allies.

In addition to a new Sphere game in the works, a user on the read.cash blogging platform called “SLPLottery” revealed a new lottery system that leverages the Simple Ledger Protocol. The creators of this project also have published a website called slplottery.cash. “SLP Lottery allows you to randomly draw one (or multiple) holders of a specific SLP Token. It’s then up to you to reward them as you see fit,” the website reads.

Moreover, news.Bitcoin.com recently reported on the creation of an SLP Foundation. The SLP Foundation has been in the works since December 2019, and the primary goal is to foster SLP innovation and standards.

This year at the North American Bitcoin Conference Miami on January 17, Bitcoin.com revealed the company’s new SLP minting program. Bitcoin.com Mint is a noncustodial web wallet that allows users to store bitcoin cash and Simple Ledger Protocol (SLP) tokens.

The wallet has numerous token portfolio capabilities, as the Mint gives anyone the ability to create their own customized SLP tokens in less than a minute after they add a tiny fraction of bitcoin cash (BCH). Additionally, since the initial Bitcoin.com Mint launch, there’s a number of new features like the ability to add custom icons, dividend, and SLP token audit capabilities as well.

A lot has happened during the last year, and the Simple Ledger Protocol has seen a number of new projects and lots of action. Other SLP announcements include Tipbitcoin.cash giving livestreamers the ability to accept both SLP tokens alongside bitcoin cash.

News.Bitcoin.com readers also recently learned how General Bytes ATMs now offer SLP support. Further, the software developer Pokkst recently tweeted about how SLP BIP70 support is being implemented into bitcoincashj, and Crescent Cash.

What do you think about the Simple Ledger Protocol (SLP) universe in 2020? Let us know in the comments section below.

The post Simple Ledger Protocol Universe Is Thriving: Lottery, Mint, ATMs, Over 8,500 SLP Tokens Created appeared first on Bitcoin News.

Crypto 101: How to Send and Receive Bitcoin Cash Via the Bitcoin.com Wallet

15/06/2020 by Idelto Editor

Bitcoin 101: How to Send and Receive Bitcoin Cash Via the Bitcoin.com Wallet

During the last few months in the midst of the coronavirus outbreak and faltering global economy, many individuals have shown an interest in bitcoin and other cryptocurrencies. However, oftentimes people can find the process a bit daunting because they are not used to using crypto assets and have never experienced the process. The following article is a quick guide on how to get a cryptocurrency address, receive digital assets, and send them as well.

Creating a Bitcoin Cash Wallet and Obtaining a Receiving Address

Amid the crazy economy, a lot of people have noticed a number of cryptocurrencies like bitcoin (BTC), ethereum (ETH), and bitcoin cash (BCH) have done far better performance-wise than a majority of stocks, bonds, and commodity assets worldwide. For instance, the crypto asset bitcoin cash (BCH) dropped to a low of $150 per unit on March 12, 2020, otherwise known as ‘Black Thursday.’ The price of bitcoin cash has gained 60.66% since then at today’s BCH price of roughly $241 per BCH. At a price of $9,453 per unit, Bitcoin (BTC) has gained 162% since March 12, when it traded for $3,600 for a brief period that day.

Besides the price rises, many people are beginning to understand the importance of a censorship-resistant and permissionless, electronic peer-to-peer cash. However, many people get frustrated when they try and learn the process of obtaining a crypto address, receiving digital currencies, and sending them to people after learning to store them in a wallet. In this article, you will learn the basics of all three of those tasks by leveraging a noncustodial Bitcoin.com Wallet and some practice.

Want to store BCH, BTC, and SLP tokens, as well as sending and receiving them, download the Bitcoin.com Wallet today.

In order to get a cryptocurrency address, you need a wallet. Basically crypto wallets are software applications that allow you to send, receive, and store digital currencies on a mobile phone, laptop, tablet, or desktop computer. The Bitcoin.com Wallet allows people to use bitcoin cash (BCH), bitcoin (BTC), and crypto tokens built using the Simple Ledger Protocol (SLP). For today’s testing, we are only focusing on the cryptocurrency bitcoin cash with the ticker symbol BCH. The Bitcoin.com Wallet is noncustodial, which means the company has zero access to the funds and you are 100% in control of the storage. This means when you create a wallet, you need to back it up immediately using the twelve-word mnemonic phrase.

Generating an Alphanumeric Address and Receiving Crypto Assets: QR Code or Copy & Paste

Once you have created a Bitcoin.com Wallet on one of your devices, the process of storing, sending, and receiving is very simple. All you need to do to obtain a bitcoin cash (BCH) address via the Bitcoin.com Wallet is by simply pressing “receive.” You need to choose what wallet you will be receiving to and in this example, it would be bitcoin cash (BCH). After selecting BCH, the wallet will generate an alphanumeric address that allows you to accept BCH to that specific address.

Receiving bitcoin cash is easy with the Bitcoin.com Wallet, by either sending a QR code or copying a bitcoin cash (BCH) address and sending it to another individual. With a crypto wallet, most applications allow you to change the address after every transaction. Leveraging a different address for every transaction improves privacy.

There are two ways to copy the address. One way is giving someone a copy or picture of the QR code, and a person with a QR code reader tied to their bitcoin cash wallet will be able to scan the code. The second way is by copying and pasting the BCH address by copying it to your device’s clipboard and sending it to another person. With this address, any person from anywhere around the world can send you bitcoin cash.

Sending Bitcoin Cash by Scanning a QR Code or Copying an Address to a Device Clipboard and Pasting It Into the Wallet’s Sending Screen

Once someone has sent you some bitcoin cash, you then have the ability to send it all to another address or send it in fractions to various individual addresses. To send someone some BCH, simply launch the Bitcoin.com Wallet and select the “send” button. This will direct you to a screen that allows you two options; either copy and paste the recipient’s wallet address into the address box or you can select “scan QR code.”

Sending BCH is just as simple. Just scan a QR code that’s tethered to a public BCH address or copy and paste an address that someone sent you in alphanumeric form.

After one of those two options has been completed, you need to choose a wallet that holds your unspent bitcoin cash (BCH) and enter the amount you wish to send to the individual. After selecting the number of funds you want to send, simply press the “next” button. There will be a confirmation screen that shows you all the details of your transaction and if you are happy with the details, simply “slide to send” to deliver the transaction. Alternatively, you can also send money from one wallet to another wallet within your device’s application.

Practice Makes Perfect

Obtaining a cryptocurrency address is very easy once you download a wallet, and most wallets follow the same standards when it comes to getting an address and the sending and receiving processes. There are many wallets that allow people to store cryptocurrencies in a noncustodial fashion.

Crypto 101: How to Send and Receive Bitcoin Cash Via the Bitcoin.com Wallet — The difference between an Ethereum (ETH – Top gray box) address and a Bitcoin Cash (BCH – Bottom white box) address. The sending and receiving process is relatively the same.

Also if it is a different cryptocurrency, obtaining an address and sending and receiving an address is pretty much the same process. The biggest difference is, each cryptocurrency has an alphanumeric string, but they look different in the beginning of the address. For instance, bitcoin cash (BCH) addresses look different than ethereum (ETH) addresses, but the process of sending and receiving is the same.

After doing these steps a few times, you should easily get the hang of obtaining a crypto address, and using a wallet to send and receive digital currencies. When practicing, try sending small fractions of a cryptocurrency like bitcoin cash (BCH) in order to feel more comfortable with the processes. A great number of crypto assets have a network fee associated with sending a cryptocurrency, and bitcoin cash (BCH) fees are always less than a U.S. penny per transaction.

On the BTC and ETH networks, fees could be higher than you realize, and you may have to adjust a transaction accordingly. Besides fees, doing this step-by-step process regularly with even just a few dollars in bitcoin cash, will turn you into a well-seasoned machine in no time. Also, check out the video below to get a visual presentation of these processes as well.

What do you think about the step-by-step process of obtaining an address and sending and receiving cryptocurrencies? Let us know in the comments below.

The post Crypto 101: How to Send and Receive Bitcoin Cash Via the Bitcoin.com Wallet appeared first on Bitcoin News.

Bitcoin Cash Tokenization Bolstered by the Creation of an SLP Foundation

25/05/2020 by Idelto Editor

On Monday, Bitcoin Cash (BCH) supporters were introduced to a Simple Ledger Protocol alliance called the SLP Foundation. According to the initial members, the SLP Foundation has been in the works since December 2019, and the primary goal is to foster SLP innovation and standards.

Meet the SLP Foundation: A Nonprofit Aimed at Fostering a Healthy Environment for SLP Growth and Innovation

A new organization has been created called the SLP Foundation and it aims to bolster SLP development, growth, and common practices. The Simple Ledger Protocol (SLP) is an easy-to-use system that allows anyone to create tokens on top of the BCH chain. The new SLP Foundation will be a nonprofit group and it has already been funded by many crypto proponents since the idea came to life.

The foundation will be overseen by three directors including Peter NG, Joey Wong, and Bitcoin.com’s former CEO Stefan Rust. Directors will help the foundation grow and “assist in communications,” according to the announcement. The SLP Foundation announcement states:

The SLP Foundation’s primary focus is to coordinate the common interests of the open-source developers working within the SLP ecosystem and to foster a healthy environment for growth and innovation.

A Foundation and a Grassroots Open-Source Community

The key developers will have the final say on SLP subject matter and the SLP Foundation believes this is the best way forward. News.Bitcoin.com spoke with Peter NG and he explained how the nonprofit envisions the foundation bolstering the SLP infrastructure and standards.

“A foundation in a grassroots open source community operates as a constant tricky dilemma. We have to be aware of the existing developing community initiatives because sometimes funding deters open source development,” Peter NG detailed during our conversation.

“With regards to infrastructure, SLP 2020 was a no brainer, as we needed across the board performance improvements to keep up with the unexpected rapid growth of token usage. Future developments in infrastructure would first need ample understanding with businesses within our industry as well as beyond. We also have to be very careful that there is minimal bias so the benefit is more universal.”

The SLP Foundation director added:

With regard to standards, SLP by design allows anybody to develop their own. So we are getting out of the way of that. Where standardization may be important is when we’re front-facing more traditional businesses that require this type of standardization to fit their existing business model.

Stefan Rust said that he believes SLP is an awesome protocol. “Simplifying the tokenization on top of BCH. The foundation will continue to support the efforts of open-source projects enhancing the protocol fit to market needs while increasing its awareness among enterprise and consumers,” Rust noted. The creator of Blockparty and a key SLP developer, JT Freeman, feels the same and believes coordination will be helpful.

“SLP is the realization of colored coins on top of Bitcoin, making it easy to understand and to start building on almost immediately,” Freeman said. “I’m very happy to see the coordination around the SLP Foundation to help this technology grow, and as a developer, knowing that the foundation will continue innovating and supporting SLP development makes it a safe bet to build on,” the developer conceded.

What do you think about the new SLP Foundation? Let us know in the comments below.

The post Bitcoin Cash Tokenization Bolstered by the Creation of an SLP Foundation appeared first on Bitcoin News.