Crypto Market Update (31 October 2018)

Bitcoin Global News (BGN)

October 31, 2018 -- ADVFN Crypto NewsWire 
 

General Market Outlook

The market is continuing a second day of sideways movement. Coins are split between negligible positive and negative gains. Trading volume has remained between $10 billion and $11 billion in 24 hours. Dentacoin (DCN) and PIVX (PIVX) are the major stand outs of the top 100 coins by market cap - up over 10% and 6% respectively in the past 24 hours. Bitcoin (BTC) is right around  $6,350 for no change and a total market dominance of 54.0%, and Ethereum (ETH) is right at $200 for +0.5% change in the past 24 hours. Market cap for the overall cryptocurrency market moved small percentages up and down, but now sits at roughly the same position as yesterday of $203 billion total.

 

Major Headlines

Bank of America Granted Data Storage Patent

A patent submitted in September of 2016 outline a process for storing private keys, the cryptographic passwords used most commonly in digital currencies. A "hardened storage device" is described as a remote storage location for private keys. The data of the keys is never directly communicated to the node that needs the key for any reason. The process essentially reintroduces a middle man to maintain that the private keys are always kept in a cold storage setting. Further, the method incorporates a failsafe where “physical or non-physical tampering with the storage device or its components results in deletion of the private cryptography key(s) from the memory.” Cryptocurrencies are references throughout the patent, but the implied use is not defined specifically as such.

 

Ledger Expands Territory and Coin Support

There are two prevailing cold storage device providers, Ledger and Trezor. But Ledger is continuing to push their applications within the cryptocurrency industry, and their acceptance is showing results. Because of increasing demand for the Ledger Vault a multi-authorization cryptocurrency self-custody management solution and their hardware wallet Nano S, the company is opening an office in Hong Kong. The Ledger Vault sets itself apart with a security system that integrates the hardware’s operating system directly into the computer chip that drives the device. As such, it is becoming the premier choice for institutional investors and custody providers. In addition, the company has just announced that the device will support the stablecoin Trust USD (USDT).

 

EY Adds Zero Knowledge Proof

As one of the largest accounting firms in the world, EY is continually working to understand, integrate and improve blockchain networks. Most recently they have developed a way to incorporate private transactions on the Ethereum public blockchain. The EY Ops Chain Public Edition prototype uses a zero-knowledge proof system, akin to that of the Zcash (ZEC) method for private transactions on a public blockchain. This is likely to be a growing trend. It was just earlier this month that ING Bank  launched a simplified zero-knowledge proof system.

 

Top 5 Gainers

iBTC (IBTC) +518.05% at $0.091702

Quantis Network (QUAN) +144.00% at $0.251507

Viuly (VIU) +71.72% at $0.000248

Energy (NRG) +52.88% at $1.17

Fantom (FTM) +42.36% at $0.025861

 

Top 5 Losers

TraDove B2BCoin (BBC) -67.02% at $0.007878

IXTUS Edutainment (IXE) -40.87% at $0.014231

HeartBout (HB) -29.75% at $0.019847

HOQU (HQX) -27.54% at $0.006854

Blue Whale Token (BWX) -18.66% at $0.000184

 

New Coins Listed

SnowGem (XSG) listed to Bitker

Stellar (XLM) listed to CoinEx

LoyalCoin (LYL) listed to OEX

 

 

 

By: BGN Editorial Staff