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DEX Transaction Rates No Good for Day Traders, Says Huobi Canada’s Ross Zhang

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 DEX Transaction Rates No Good for Day Traders, Says Huobi Canada’s Ross Zhang DEX Transaction Rates No Good for Day Traders, Says Huobi Canada’s Ross Zhang

Ross Zhang, general manager of Huobi Canada, pitched in with thoughts on decentralized exchanges (DEXs) during a panel discussion at the FinTech Canada 2018 conference. Amid all the excitement, he was a person with some sobering words to say.

“A lot of our revenue is based on transaction fees. So, how we view things is from the customer’s perspective. Right now in the market, a lot of speculators are not long-term investors. They will do frequent trades on the platform, and as of today, with decentralized technology, there are three different types of consensus mechanisms. Because the transaction speed for decentralized exchanges is not really good right now, they cannot support the transaction volume that we have as a centralized exchange. That’s why we still see the transaction fee as a thing that will persist for a while,” he said.

A look at transaction volumes on some of the world’s largest DEXs appears to offer evidence in support of Zhang’s statement. Even IDEX, one of the largest and most hyped Ethereum-centric exchanges on the planet, has a volume of just over $2 million per day.

Although day traders favor quick transactions in a volatile market, these platforms are not entirely useless. After all, people looking to buy once and “HODL” would not mind waiting a few more seconds for funds to reach their wallets.

Exchanges and bank relationships

Perhaps one of the most challenging day-to-day aspects of running an exchange is managing relationships with banks to ensure a fiat gateway. Speaking at the conference, Zhang revealed that Huobi mostly relies on partnerships with exchang…

This article appeared first on Cryptovest

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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Cryptos Mostly Flat; BTCC Launches in South Korea

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Bitcoin was flat on Wednesday. Bitcoin was flat on Wednesday.

Ninomag.com – Cryptocurrencies were mostly flat on Wednesday, while a Hong Kong-based exchange announced it is extending its services to South Korea.

fell 0.72% to $6,713.50 on the Bitfinex exchange as of 8:55 AM ET (12:55 GMT).

Cryptocurrencies overall were slightly lower, with the total coin market capitalization at $210 billion at the time of writing, compared to $211 billion on Tuesday.

,or Ether, decreased 0.99% to $212.46 and was at $52.40, down 2.31%, while rose 2.94% to $0.48073.

Meanwhile, Hong Kong-based exchange BTCC is launching its services in South Korea later this month, Korean business site The Investor reported.

The beta service will be available in October and its full debut in November. The service will include a trading platform, wallets, a mining pool and consumer payments. The company was founded in 2011 and was one of the top trading platforms in China before a crackdown on the mainland prompted it to close. It was bought in January by a blockchain investment fund in Hong Kong.

In other news, smart contracts that use blockchain could be liable under U.S. regulations if they are used for event contracts, Brian Quintenz, a commissioner at the U.S. Commodity and Futures Trading Commission.

“Essentially, these contracts would allow individuals to bet on the outcome of future events, like sporting events or elections, using digital currency. If your prediction is right, the contract automatically pays you the winnings,” he said.

Such contracts would fall under a prediction markets, which the CFTC regulates.

“If the contract is a product within the CFTC’s jurisdiction, then regardless of whether it is executed via a written ISDA (International Swaps and Derivatives Association) confirmation or software code, it is subject to CFTC regulation,” Quintenz said.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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Rwandan Government to Use Blockchain Tech to Track Conflict Metal Tantalum

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Rwandan Government to Use Blockchain Tech to Track Conflict Metal TantalumRwandan Government to Use Blockchain Tech to Track Conflict Metal Tantalum

Rwanda has partnered with a U.K.-based blockchain startup to trace the mining of the conflict metal tantalum in the country, according to the startup’s press release, published Oct. 16.

Rwanda is the world’s leading produces of tantalum, the mineral used in consumer electronics such as smartphones and computers. By using blockchain technology in partnership with startup Circulor, the Rwandan Mining, Petroleum and Gas Board plans to make the production of tantalum more transparent.

Continue Reading on Coin Telegraph

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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Wallet Provider Blockchain Backs Crypto Giveaways With Airdrops Program

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© Reuters.  © Reuters.

“Airdrops are good for crypto users.”

Those are the unequivocal words of cryptocurrency wallet and data provider Blockchain.info in a new white paper that sets out why it believes token giveaways can be beneficial for both individuals and the crypto ecosystem, while announcing a new program aimed to assist approved projects with token distributions “as a force for good.”

Addressing the issues that newcomers face when obtaining cryptos for the first time, the paper says that making purchases through an exchange or an initial coin offering (ICO) requires, for one, actually having the financial wherewithal to do so. Further, a buyer may be faced with with regulatory issues that vary across different regions, as well as risks that come with depositing funds in online platforms.

Continue Reading on CoinDesk

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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Qtum Blockchain Becomes Amazon Web Services Partner in China

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© Reuters.  © Reuters.

Amazon (NASDAQ:) Web Services’ (AWS) China division is partnering with public blockchain project Qtum.

The partnership sees the on-demand cloud computing giant working with a cryptocurrency project with a $325 million market capitalization, making it the 29th largest cryptocurrency, to develop blockchain-as-a-service (BaaS) solutions for enterprises and developers.

Revealed exclusively to CoinDesk, the partnership will allow AWS users to develop and launch smart contracts “quickly, efficiently, and cost-effectively” using an Amazon Machine Image (AMI), according to a press release issued by the Qtum team.

Continue Reading on CoinDesk

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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LINE’s Crypto Exchange Lists Its Own Token Against Bitcoin, Ether

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© Reuters.  © Reuters.

Bitbox, the cryptocurrency exchange launched by Japanese messaging giant LINE, has announced it is now listing its own token for trading against several major crypto assets.

The company said Tuesday that the LINK (LN) token is now exclusively available on Bitbox in trading pairs with bitcoin, ethereum and the U.S. dollar-pegged stablecoin tether.

The move marks the latest step taken by the company as part of its efforts to apply blockchain and cryptocurrency to mainstream use cases.

Continue Reading on CoinDesk

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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