Crypto Lender Dharma Adds Support for USDC

 The San Francisco-based company only supported Dai, a stablecoin backed by ether (ETH) that has been regarded as too risky by some investors due to its design, according to Max Bronstein, the company’s business development manager.As USDC is backed by the United States dollar, Dharma hopes that it will be able to attract mainstream investors to its decentralized platform.The new service will allow users to borrow USDC as long as they put up 1.5x the value of the loan up as collateral. Loan terms are 90 days, and Dharma claims lenders subsequently receive interest of 8%. Dharma officially launched on April 8, with the aim to enable to the wider public to use crypto in daily life to earn interest, pay bills or take out loans.In February, the company raised $7 million from big investors, including Coinbase Ventures.

Low Turnout Hinders MakerDAO Vote to Decrease Stablecoin Stability Fee by 2%

The vote about whether to decrease the fee by 2% to 17.5% per year started yesterday, May 19. MakerDAO is looking to change the yearly stability fee in an attempt to improve the token’s peg to the U.S. dollar after its exchange price has been hovering above $1. The stability fee is a charge levied by Maker participants when DAI is used for loans.Voters failed to stake the minimum 117,631.90 MKR tokens necessary to vote and as such, the proposal is unfulfilled at press time.  In March, Maker increased the stability fee twice — first to 3.5% and then to 7.5% per year. MakerDao stated then that “incentivizing CDP [collateralized debt position] closures through a Stability Fee increase (thereby reducing outstanding Dai) is strongly viewed as the appropriate action.”In April, the fee was further raised by another four percent in the fifth such vote this year, bringing it to 11.5%. Subsequent votes brought the rate up to 19.5% at the beginning of May.

Crypto Wallet Startup Ledger Detects Phishing Malware Targeting Desktop App

            Hardware cryptocurrency wallet manufacturer Ledger has detected malware targeting its desktop application, according to a tweet on April 25. Last December, the research team behind the dubbed “Wallet.fail” hacking project claimed that they were reportedly able to install any firmware on a Ledger Nano S. When a USB cable is attached to the device, the aforementioned leaked signals purportedly get strong enough that they could be easily received from a distance of several meters.Following the claim, Ledger claimed that the uncovered vulnerabilities in its hardware wallets are not critical. The reason Ledger said that the vulnerability was not critical is that “they did not succeed to extract any seed nor PIN on a stolen device” and “sensitive assets stored on the Secure Element remain secure.”

Stablecoin USDT Launched on Tron Blockchain

Tether  has started issuing its stablecoin USDT on the Tron (TRX)blockchain. The development is an upgrade from the OMNI protocol-based USDT —  which is pegged to the United States  dollar on a 1:1 basis — that now enables users to hold and transfer the cryptocurrency through smart contracts  on Tron ensuring instant delivery.“It enables interoperability with Tron-based protocols and Decentralised Applications (DApps) while allowing users to transact and exchange fiat pegged currencies across the Tron Network,” the announcement explains.Tron will reportedly be settling the matter with digital currency exchanges including Singapore-based Huobi, Hong Kong-based OKEx  and others, starting from April 30th until the beginning of August.The stablecoin previously faced controversy after critics had suspected  the coin of operating a fractional reserve while issuing more tokens than they have backing for, and sending them to Bitfinex  cryptocurrency exchange. Following a subpoena by United States regulators to both Bitfinex and Tether, the company ordered  an unofficial audit, which found that stablecoin had the appropriate amount of backing dollars.

Stellar (XLM) is Now Available as Collateral on YouHodler’s Expanding FinTech Platform

FinTech platform YouHodler continues to expand its global reach with a new collateral addition to their growing list. Due to popular demand from their community, YouHodler now includes Stellar (XLM) as their latest collateral option. The new listing comes just after the platform added BSV and will attempt to bring another sector of the crypto community to their service. 

STELLAR (XLM) BRINGS DIVERSE POTENTIAL TO YOUHODLER

Choosing XLM as collateral on the YouHodler platform allows users to receive a loan in EUR, USD or USDT. Using a credit/debit card, verified bank account or stable coin wallets, users can then instantly withdraw their loan from the platform. As the ninth largest cryptocurrency per market capitalization, XLM has proven to be one of the bear market’s strongest survivors with promising potential. With a total supply of 19 billion, XLM is currently trading at $0.086630 against the U.S. dollar and is close on the tail of Tether (USDT) for the number eight spot. The hype surrounding the coin continues to grow alongside Stellar’s partnership with IBM. Stellar, which is the main competitor to Ripple, aims to help IBM replace the current banking system in the South Pacific. Growing value aside, there are more important reasons for this addition for YouHodler according to CEO Ilya Volkov. 

YOUHODLER “EXCITED” TO WELCOME STELLAR COMMUNITY

Compared to other coins in the top 5, Stellar is a rather small network. Yet, it still exhibits massive potential via the XLM community. On the topic, YouHodler CEO Ilya Volkov states that “we know XLM users are a unique and talented group of crypto enthusiasts. For that reason, we wanted to target with them this new addition to this platform. Yes, it will help  XLM HODLers find another use for their coins but it will also help us in regards to collaboration. XLM HODLers are often overlooked in the realm of the crypto industry and by introducing them to the platform YouHodler hopes to make lasting connections that will be beneficial to both parties.”

XLM JUST ONE OF MANY FEATURES TO COME FOR YOUHODLER

Coming fresh off their announcements of a new affiliate program and direct to credit card withdrawal feature, the XLM addition is another highlight of a productive March for YouHodler. According to the team, DASH and ZCASH as collateral options are coming in the future as well. Instead of a pure crypto lending platform, YouHodler promotes itself as a FinTech platform that focuses on crypto lending but will eventually construct a more diverse ecosystem for global finance.

About YouHodler

YouHodler is a Blockchain-based Financial Ecosystem focused on cryptocurrency-backed lending with fiat loans. YouHodler lending platform provides USD and/or EUR loans, secured by collateral in BTC, ETH, XRP, and other popular cryptocurrencies.


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Merchants Can Now Accept EOS Transactions Via CoinPayments

EOS has introduced a blockchain architecture designed to enable vertical and horizontal scaling of decentralized applications (dApps). It’s powered by the native EOS token. The platform aims to fix several issues which makes several other blockchains unable to scale to meet the future demand for cryptocurrencies, dApps and a high throughput blockchain. Since our goal is to drive adoption through ecommerce, we have added support for EOS payment processing as it will be able to scale to the demand we envision cryptocurrency having in the future.

How Does it Work?

EOS was developed with the goal in mind of being able to accomplish several goals through a blockchain solution:

  1. Support millions of users – to be able to compete with large established technology companies which can support a massive user base;
  2. Free Usage – providing flexibility to developers and value to users, plus encouraging adoption through a free to use service;
  3. Easy upgrades and bug recovery – ease of use for businesses upgrading with new features, and robustness when tackling bugs in the system;
  4. Low latency – reliable feedback and low latency of transactions;
  5. Sequential performance – to facilitate the management of high volumes on the platform;
  6. Parallel performance – allowing the platform to divide workload across multiple CPUs and computers to increase speed and efficiency.

EOS runs with a delegated proof of stake (DPoS) consensus algorithm in conjunction with the asynchronous Byzantine Fault Tolerance (aBFT) to achieve lightning fast transaction irreversibility. Within 1 second, the transaction is irreversible on the blockchain.

About CoinPayments

CoinPayments was started in 2013 as the first altcoin payment processor and has since grown to support payments for bitcoin and over 1,000 altcoins for their userbase of over 2.3 million accounts across 182 countries. The easy to use platform offers prebuilt plugins and integrations for all the major ecommerce platforms, including Shopify, Woocommerce and Magento. With hosted wallets, conversion and fiat settlement functionality, CoinPayments leads the way in furthering the adoption of cryptocurrencies.


Ontology to Attend TOKEN 2049 During Asia Crypto Week, The Top Cryptocurrency Events Happening in The First Half Of 2019

TOKEN2049, which will be held in Hong Kong on 13-14 March 2019, is the flagship event of Asia Crypto Week.  TOKEN2049 will investigate the blockchain industry’s journey thus far, overcoming major roadblocks from scalability to regulation and the current state of affairs on the road to mainstream adoption while educating entrepreneurs, innovators, and investors on what to expect in future years. With its sold-out 2018 event featuring Charles Hoskinson of Cardano, Bitcoin Oracle Vinny Lingham, and a special appearance from AI robot, Sophia, the upcoming conference is expected to double in size with an all-star panel discussion includes Charlie Lee, Creator of Litecoin; Alexander Tkachenko, CEO and Founder of VNX Exchange; William Peets, Chief Investment Officer of Passport Digital Holdings; Cristian Gil, Co-founder of GSR; and Chris Lee, CFO of Huobi Group.

Founder of Ontology, Li Jun, will also be participating in the panel The Decentralized Future: Interoperability and Scalability, where he will present Ontology’s plans for 2019. Li Jun said: “Scalability and interoperability are key focuses for Ontology in 2019. For scalability, Ontology sharding is currently in development. It is benchmark for blockchain, being the first sharding implementation which not only includes transaction sharding but also network sharding and smart contract sharding. For interoperability, we are working on several initiatives, including a decentralized storage product, which will allow for blockchain-based P2P downloads across systems.”.

Charlie Lee, Creator of Litecoin, said: “Given the tremendous support that we have received from Asia, we are looking forward to hosting an engaging community gathering to thank our supporters and give attendees a firsthand view into Litecoin’s future plans. Our goal of becoming the preeminent payments coin would not be possible without the strong community support that we continue to receive. That is why meetups like these are crucial as we continue to develop new ways of community engagement, such as the launch of our global volunteer network that we are announcing.”

Max Kordek, President of the Lisk Foundation said, “TOKEN2049 promises to be a hugely exciting event, which I am proud to be a part of. The number of talented and passionate individuals in attendance, with the shared desire to build global bridges across the blockchain sector, is truly inspiring. TOKEN2049 is a celebration of how far space has come in such a short time and will undoubtedly signal where the global blockchain community is headed in the future.”

Alexander Tkachenko, CEO and Founder of VNX Exchange, said: “Hosting alongside one of the leading projects in the ecosystem is something we are very much looking forward to. Not only will attendees have the chance to listen to an insightful panel discussing an array of topics from the mass adoption of cryptocurrencies and blockchain to democratizing financial markets but there will also be an opportunity to hear industry developments first hand from one of the true pioneers in the crypto payments industry.”

ABOUT ONTOLOGY:

Ontology is a new high-performance public blockchain project & a distributed trust collaboration platform.

Ontology provides new high-performance public blockchains that include a series of complete distributed ledgers and smart contract systems.

Ontology blockchain framework supports public blockchain systems and is able to customize different public blockchains for different applications. Ontology supports collaboration amongst chain networks with its various protocol groups.


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Crypto contradictions: how regulations are moving adoption in Brazil

The largest country in Latin America and 5th biggest in the world, Brazil has always been plagued by corruption and inefficiency. Crypto ecosystems may help – if only regulations will let it. This is part of a series of stories on crypto regulation and worldwide adoption by the Cloudbet blog. To learn more, check out how regulations are shaping adoption in Africa, and the curious case of crypto in India.

Brazil is a land of contradictions, notorious for having a disgruntled, patchwork-style legislative framework – a trait that generates confusing, intertwined norms that in most cases lead to a structural delay in innovation. In this context, the various administrative bodies that make up the national financial regulators finally began following the rest of the world in their mission towards the regulation of cryptocurrency usage. However, like most things in the country, this has been a path ridden with contradictions and uncertainty.

After bitcoin overcame the deep web and underworld currency-shilling, finally overcoming the borders of Silk Road and media sensationalism, the first Brazilian cryptocurrency exchange emerged in 2011, remaining in operation up to this day. Many other exchanges have popped up ever since, contributing to the dissemination not only of BTC and altcoin markets but also of a whole budding crypto ecosystem.

After the 2016-2017 crypto markets boom, the government’s interest also peaked, spurring political and regulatory action in its wake.

Brazilian-style regulatory approach

Since then, Brazilian regulatory bodies have begun to take interest in this issue, not only because of the potential disruption to the current wealth distribution model but also because of bitcoin’s overvaluation in 2017. At the height of the mania, the number of people registered in crypto exchanges reached 1.5 million, representing more than double the number of individuals registered as traders on the stock exchange.

These huge numbers led to the holding, in September 2017, of a public hearing in the Brazilian Chamber of Deputies’ Special Committee on Virtual Currencies, in order to discuss crimes in the virtual currency market. That gathering was attended by representatives of the Federal Public Ministry and other entities concerned.

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US SEC Releases No-Action Letter Confirming TurnKey Jet ICO Tokens Are Not Securities

In the letter, the regulator specifies that it considered that the platform will be fully developed and operational at the time the tokens are sold, and the funds won’t be used to develop the platform. It also mentions that the tokens will be immediately usable and have been marketed for their utility, not potential profits.Other reasons cited are that the price of the tokens during the sale will be fixed at one dollar, each token will be granting one dollar worth of service and that the company will only purchase them at a discount unless a court orders it to liquidate them. The SEC also notes that since TKJ transfers will be limited to TKJ wallets only and cut out from wallets external to the platform, it does not consider the tokens to be securities.At the beginning of the current month, news broke that the SEC is also looking to hire a crypto specialist attorney advisor for its Division of Trading and Markets who will reportedly be tasked with establishing a plan for dealing with crypto and digital asset securities.


Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Binance Coin, Stellar, Cardano, TRON

Bitcoin has closed in the green for the second consecutive month. This is the first such instance since December 2017, which indicates buying at lower levels. However, right now the action is in altcoins. Traders are piling on select altcoins and the positive sentiment is rubbing on to the leading digital currency. In the current recovery, Bitcoin’s dominance has been steadily decreasing, which is now at 50.1 percent.Bitcoin (BTC) is inching towards the overhead resistance of $4,255. The bulls have failed to break out of this resistance twice earlier, hence, we expect the bears to defend this level with full force.
Though Ethereum (ETH) closed above $144.78 on March 29, the bulls could not sustain the higher levels. However, the bullish sign is that the digital currency is trying to rebound from the 20-day EMA. If it can break out of $144.78 this time, a quick move to $167.32 is possible.

Litecoin (LTC) is facing stiff resistance at $61.9044. Repeated attempts by the bulls to scale this level have failed. Traders can book profits on 40 percent of the remaining long positions above $60 and keep the stop loss on the rest at $55.

Tron (TRX) is currently attempting to break out of the moving averages and the downtrend line. If the bulls sustain this breakout, the price can rally to the next overhead resistance of $0.02815521. This is a critical resistance as the price has repeatedly returned from it. Notwithstanding, if the bulls scale above it, a new uptrend is likely to start that can carry the digital currency to $0.040 and above it to $0.0480.