Triaconta weekly #91 – 20 september 2019
The following topics will be addressed in this weekly.
- Bundles performance
- Triaconta tip
- All coins great and small
- Market overview
Last week we wrote there was a positive shift towards a few altcoins, but not yet a general change. This week there is only one coin slightly negative, and it is Bitcoin!
The biggest gainer especially in the last 24 hours is 0X (+43%) and the coin we featured last week Stellar (34%) came in second. The Big 3 (+11%) rises entirely on Ethereum and Ripple, and finally the diversification in this Bundle pays off. Top 30 (+12%) took off with positive performances for all altcoins. Penny Stock (+9%) mainly profited from Tron and Cardano, who are also in Top 30. Early altseaon always seems to benefit the higher market cap coins first. We expect the rest to follow soon.
Did you know you could buy a new bundle or a single cryptocurrency without logging into the portal? If you use the same email address and bank account your purchase will automatically be added to your Triaconta account.
All coins great and small
What exactly are cryptocurrencies for? Where is my money actually going? We think it’s a good idea for you as an investor to know a little bit more about the cryptocurrencies you can invest in with Triaconta.
Building an application on another smart contract platform forces your application to be subject to the rules and management of that blockchain. By writing your own blockchain from scratch, you have the freedom and flexibility to adapt the logic of the blockchain specifically to the needs of your application. The only thing you have to sacrifice is communication with other applications on an already existing blockchain and all potential users who already have a wallet on, for example, the Ethereum blockchain. Cosmos solves this by offering blockchain interoperability. Because of Cosmos, all Ethereum users can use your application even if it runs on another ( its own) blockchain.
Cosmos offers a blockchain development environment (Cosmos SDK) with which developers can easily build new blockchains with existing modules for management (governance), voting (staking) and security. The best known example is the Binance DEX. It is even possible to build a distributed application (DApp) without its own token. The DApp can use existing tokens from other blockchains.
Cosmos envisions an ecosystem of connected blockchains as the best guarantee for new “anti-fragile” companies. A company that is very flexible and benefits more than it suffers from rapid and shocking changes such as a switch from applications and users to an entirely new popular blockchain. By means of plugins they can always be connected to the Cosmos network.
How does it work?
The Cosmos network uses a hub-and-zone model for interoperability, where zones (independent blockchains) can send tokens to other zones via a hub (also an independent blockchain). This protocol is called IBC (Inter-Blockchain Communication). Because everyone can start a hub or a zone and all hubs are connected, a simple and efficient inter-chain communication network is created. As soon as your own zone is connected to a hub, your blockchain is connected to all other blockchains. There is a variation of IBC called Peggy under development for the bridge to older blockchains like Bitcoin and Ethereum.
Who builds it?
The Interchain Foundation is a non-profit development team based in Switzerland with members all over the world. Tendermint is a company that researches the commercial application of the blockchain Tendermint consensus project. This consensus algorithm has existed since 2014 and has been used since 2017 for Cosmos. The software is and remains fully open-source.
What’s Cosmos worth?
In the first private funding round in April 2017, $300,000 was raised by selling 5% of the total stock of ATOM tokens for $0.025. In the second round, 7% of the tokens were sold for $0.08 per ATOM and $1,329,500 was raised from large investors. At the public sale, $16 million was raised by selling 68% of the tokens for $0.10 per ATOM. The project is doing very well with a market cap of 600 million and a token price just over $3.00.
Up until now blockchains were much more difficult to develop than smart contracts. This is not the case anymore, thanks to the Cosmos SDK. Now, developers can easily develop entire application-specific blockchains, which have the advantages of flexibility, security, and performance. We will hear much more from this project which is part of our Top 30 Bundle.
Bitcoin mining hashrate hit an all-time high this week, basically meaning miners continue to see increasing profits verifying transactions and adding blocks to the Bitcoin blockchain. New research shows miners have become holders selling only what they need to cover their operational costs. It seems they are already anticipating the Bitcoin halving next year when the new supply of Bitcoins will become even scarcer.
The Ethereum network had the most activity in its history this week surpassing even Bitcoin in total network fees over a 24 hour period. A recent survey conducted on social media has shown more than half of respondents expect Ethereum to surpass $1,000 with the Ethereum 2.0 upgrade expected early 2020.
Happy 7th birthday for Ripple (XRP) and look at that rise this week!
Electronic arts, not a small gaming company, tweeted out “Invest in Crypto” today, but in a later tweet announced “Crypto” is a new Apex Legends character.The overwhelmingly positive storm it created may very well tempt them to integrate real crypto into a future or current game.