Stellar Lumens is currently in communications regarding the potential of purchasing the San Francisco-based startup company Chain.

Chain is a platform focused on blockchain development which is hoping to offer banking and financial institutions a way in which they can develop their own individual and private networks. Chain, unlike other companies with a similar aim, is not a blockchain in itself but rather looks to offer the technology to markets in the finance industry.

According to Chain, this is what is setting them apart and the CEO has dismissed the suggestion that cryptocurrency is a trading entity to replace traditional tender. He said:

Quote:“People want to believe that there’s going to be this mythical coin that comes out of Silicon Valley that the world starts using and that all of Wall Street just falls into the ocean.”

It has not been explicitly stated how  Stellar will use Chain’s technology if and once it has been acquired. It has been said by Fortune that Stellar is willing to spend $500 million USD worth of XLM for the purchase. Currently Stellar has a market cap value of $4.3 billion USD so the amount suggested is not far-fetched.

Since it was founded in 2014, Chain has managed to make its mark in the industry; raising over $43 million USD in funding with some leading venture capital business supporting the project, such as  Khosla Ventures, RRE Ventures, Capital One, Visa, Citigroup, Nasdaq, and Orange.

Stellar, which is hoping to integrate blockchain technology into financial systems, seems to be aligned with Chain’s vision for the company and this could be an acquisition to create a well-paired partnership.

Currently, Stellar’s XLM is down by 6.67% day-on-day, and presently trades at $0.22 USD

Ethereum & Cardano Founder: Cryptocurrency Will Become a Multi-Trillion Dollar Industry



Charles Hoskinson calls out the mainstream media’s constant predictions on the death of the cryptocurrency Ponzi scheme – scam bubble on Twitter predicting an influx of trillions of dollars from institutional markets once the next round of regulation is settled.


Hoskinson Calls Doom and Gloom Media Reports

There hasn’t been a day gone by since Bitcoin entered into the collective consciousness during its unprecedented 2017 bull run, carrying along with it along the terms cryptocurrency, blockchain, and digital money, that a headline hasn’t appeared warning the public of its inevitable demise and the financial destruction which would encompass all in the space.

With old money market bears like Warren Buffet calling the entire industry “rat poison” and headline-grabbing institutional heads like Mark Carney of the Bank of England calling for the fall of cryptocurrency every chance he gets, it’s refreshing to have a crusading voice on the side of the industry make a loud prediction every once in a while. It doesn’t hurt that in this case, that voice belongs to the founder of both Ethereum and Cardano Charles Hoskinson.

Hoskinson tweeted out to his 92 thousand plus followers criticism on the mainstream media’s “cryptocurrency is going to die broken record” stance. Predicting that when the present regulatory problems are settled “wall street is showing up to the party with all their locked up capital. That’s tens of trillions of dollars entering the space”

Quote:
[/url]Charles Hoskinson@IOHK_Charles



[url=https://twitter.com/IOHK_Charles/status/1009689496185724929]

What's often missed by the cryptocurrency is going to die broken record media is that after the next wave of regulation, wall street is showing up to the party with all their locked up capital. That's tens of trillions of dollars entering the space eventually. Future is bright
1:48 PM - Jun 21, 2018 · Edinburgh, Scotland

• 1,644533 people are talking about this

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Hoskinson is not alone in this opinion. Ever since Goldman Sachs solidified rumors of wall streets first digital asset trading desk and with recent clarity coming from the SEC clearing the way for Ethereum and possibly other crypto-based derivatives talk about the tidal wave of institutional monies coming to flood the crypto market has been ramping up.

Crypto Bulls put the Present Price Lull into Perspective

Wall Street’s ‘Crypto King’ Bart Smith who runs the investment firm Susquehanna International Group recently told CNBC in an interview focused on the interest of institutional investments into crypto and blockchain based technologies that: “[Regulatory] clarity will allow institutions to come in more than anything else because institutions don’t like to invest into uncertainty. So we’re just taking the most conservative approach that we can,”

Likewise, San Francisco’s Coinbase CEO Brian Armstrong told his employees in a series of tweets about the nature of the crypto market that:  “When there is hype, people are irrationally exuberant. When there is despair, people are irrationally pessimistic. Neither is true, reality is always somewhere in the middle, more correlated with real usage (transactions per day) than the price.”

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Knowing the Difference Between Cryptocurrency and Non-cryptocurrency May Avoid You from Booby Traps

Cryptographer and PhD in Information Security Dr. Pavel Kravchenko shares his insights into the nature of crypto and non-crypto assets, and explains why it’s critical to understand the difference between them.

Current situation on the digital currency market is both: extremely advanced and unbelievably comical. In short, incredible demand provokes the appearance of a great abundance of cheaters. In order to bring matters to a head, let’s contemplate on one very short example.

In some time, we’ll be passing through the period when fuel cars will no longer be in fashion because new models of electric vehicles will be much more efficient, that said faster and even cheaper. E-vehicles will be the new trend to which everyone would strive. By this time, you’ll be able to find a lot of market offers, when something quite distinct from an e-vehicle is presented as nothing more than it.

An old push-bicycle introduced as a ‘Tesla-killer’ is very similar to how many ‘enthusiasts’ today try to present something which is nowhere near cryptocurrency as the very one.

So, in today’s highly speculative market, one could either make a big time or fall very short of their expectations. Whilst the failure is mostly contingent on the lack of knowledge and a number of misconceptions about the concept of cryptocurrency. Let’s consider what’s what.

The Definition of Cryptocurrency

The definition of cryptocurrency is exceptionally simple. It consists of three basic keywords.

Cryptocurrency is an independent digital currency. Independence is the main point here and is achieved by virtue of decentralization of the following processes:

• • Issuance. New coins in the system are to be issued according to the algorithm that’s based on the determined upfront monetary policy.
    
  • Transaction validation. Anyone can participate in the transaction validation process.
    
  • Availability. The system is opened for use for all (it has no registrations or permissions).
    
  • Data storing. Data is available for everyone, that said, everyone is able to store and verify it, which makes transactions irreversible. You cannot fool anyone when you’re in the public eye.
    
  • Audit. Everyone can synchronize with other nodes and verify the accuracy of the transaction history.
    
  • Governance. No one holds the ultimate reigns of making decisions, rather, they are made mutually through discussions on forums.
    

Needless to say, that the initial code and specification of a cryptocurrency should be in the open source. Eventually, all the properties we have just considered can only be possible in case of a sufficiently big and open community: Even if you copy the initial code of Bitcoin, which is kind of designed for a decentralized digital currency, and launch your own — it won’t be a cryptocurrency if there won’t be a fairly big and open community around it, eventually.

What is What?

As you can see, it is specifically decentralization the main attribute of every cryptocurrency. If at least one of the above-mentioned processes takes place in a centralized manner — it’s not a cryptocurrency, because it’s no more independent.

Bitcoin, Litecoin, Monero — these are good examples of cryptocurrencies, where all the above stated processes are decentralized, which makes them as much independent as possible.

Having analyzed the Ripple (XRP) currency, you’ll see that transaction validation in it is not really decentralized (only a limited number of parties can validate), while the process of emission is totally centralized because creators are in full control of how the coins are issued and distributed. So, it’s fundamentally wrong to call Ripple a cryptocurrency. But it is not good or bad, it’s just the way it is. Because Ripple aims to solve other problems.

What is a Token?

It’s important to understand that token is never a currency, while its definition is extremely vast and even abstract. So that in each particular case it can undergo certain contextual changes.

You could’ve never known, but you’ve already dealt with tokens. For example, the subway token that grants the right to using the subway service. Another example is American dollar at the gold standard times. It was a token that presumed the right to a certain amount of gold.

Cryptographic Token

This term is much more narrow, so it’s easier to give it a clear and comprehensible definition.

A cryptographic token is an accounting unit that is being used to represent digital balance in a certain asset, whilst the ownership of a token is evidenced by the aid of certain cryptographic mechanisms, for example — digital signature. Bitcoin (coin) is a cryptographic token. But, it’s important to understand that …

Cryptocurrency coin is a cryptographic token, but it’s never the other way around, meaning that not all cryptographic tokens are cryptocurrencies.

Once again, the cryptographic token represents a unit in certain digital accounting system. Meaning that tokens can not only represent some digital independent currency like Bitcoin but also be backed by something physical or digital:

• Stocks;
  
  
• Digital obligation;
  
  
• Any currencies;
  
  
• Ownership rights;
  
  
• Right for a service, etc.
  

For example, agribusiness company can tokenize its grain receipts, so that seeds are situated in the warehouse, while the tokens are being easily traded.

Most commonly, the accounting of cryptographic tokens is realized with the aid of the blockchain technology, while the access to them is carried out through special e-wallets that use the digital signature schemes.

Now, Let’s Have Our Knowledge Structured

The last thing we’re going to do is puzzle out this, at first sight, complicated scheme. In reality, it’s a piece of cake.

Photo: Pavel Kravchenko

As you can, see it’s all about digital assets. Let’s first define the right side of the picture:

• Non-auditable digital currency. Commonly, a centralized payment service with which you can transfer certain digitized assets and/or currencies. No one can verify the database, but only trust the honesty of the service.
  
  
• Complementary digital currencies. Basically, it’s the same thing, it’s just that the safety mechanism implies the use of cryptography. The circle intercepts with ‘cryptographic token’.
  

• Now, let’s consider the left part:
  

• Cryptographic token. A unit in the accounting system that’s protected with the aid of cryptographic mechanisms. (Tether (USDT) is a cryptographic token, the price of which is backed by that of USD)
  
  
• Auditable digital currency. It’s a digital currency that’s not yet cryptocurrency because some of the processes are not decentralized, though the database can be audited by any or some external parties (which significantly distinguishes it from non-auditable digital currency, where it’s all based on trust and confidence). That’s where many people get frequently confused because they think that it’s a cryptocurrency, but it’s actually not. Ripple and Stellar are good examples.
  
  
• Cryptocurrency. Totally decentralized and independent digital currency (issuance, validation, audit, decision making, etc).
  

Conclusion

Sometimes people find it hard to distinguish what is cryptocurrency and what’s not. We aimed to show that it’s not that difficult when you have your main focus on the criteria of independence and decentralization. Because it is specifically they that define the true freedom of the currency and of those who own it; they that triggered a tiny (or maybe even not) revolution of the accounting systems; revolution in people’s min