BitMax.io (BTMX.com) Announces Primary Listing Partnership with Alluva

BitMax.io (BTMX.com), the industry-leading next-generation digital asset exchange, has announced a strategic partnership with Alluva, a blockchain-based product (web and DApp) that turns cryptocurrency investment market noise into actionable data. Alluva tokens will be primarily listed on the BitMax.io exchange on March 18th, 2019.

Alluva is a blockchain-based product (web and Dapp) that allows users to earn rewards when they can accurately predict crypto prices and rate crypto products. As a free-to-use product, it is ideal for investors who want to expand their portfolio with minimum risk or new investors who want to hone their skills without risking their own money. Users can predict the prices of crypto assets for periods ranging from one day to one year.

The gamified approach makes contributing easy and fun. Users create an account and can immediately start to offer their input. Alluva evaluates contributed ratings through its proprietary algorithm to then reward users whose predictions come within an allowed margin of error. In this way, users earn rewards in exchange for absolutely no investment.

Alluva rewards users based on the accuracy of their inputs with the allocation of Alluva tokens. Holders of the tokens will gain commensurate access to services with Alluva’s partner companies, including Oddup, Refinitiv, Bloomberg, and other global leaders in technology, insights, news and more. Those who earn rewards will also have an increased opportunity of being allocated early investment placement for the most popular ICOs, STOs and startups through a Proof-of-Ratings Placement process, a privilege that is typically only available to industry insiders. Over the next few months, Alluva tokens will be listed on leading global crypto exchanges.

Why is Alluva needed?

Investors have become very cautious due to changing regulations, the high unpredictably of prices, biased information, and the lack of transparency in data when it comes to cryptocurrency investment. There is no single method to obtain a quantifiable view of trends and the potential of any cryptocurrency. Investment returns remain uncertain and investors are wary of making commitments.

Alluva addresses this concern and enables transparency and a clearer understanding of the crypto market and price patterns by providing a platform to existing and potential investors on which to apply their analysis. At present, those who have the knowledge, experience, and intuition to predict crypto prices are not rewarded. Alluva gives them a way to utilize this knowledge and earn rewards. Investors will be able to identify crypto market trends and earn rewards for their efforts, develop the skills to accurately analyze crypto prices for improved investment choices, and identify blockchain startups that display growth potential for investment.

Rewarding users for crypto predictions is only the first step for Alluva. It will be built in a number of phases, each of which will help to facilitate the adoption of digital assets and blockchain. As it evolves, Alluva will bring clarity in the current investment space where STOs, ICOs, and cryptocurrencies play an increasingly integral role, helping potential individual and institutional investors explore the best of blockchain technology and startups. The product will be integrated with major Fortune 500 partners to drive institutional awareness and investment in crypto.

The Alluva team

Alluva is driven by a global, diverse team of professionals who believe that blockchain is the disruptive technology that will enable numerous advancements. The team believes that hacks and scams have prevented the entire sector from reaching its full potential and wants people to be able to explore the best of crypto investment, blockchain technology, and blockchain startups.

James Giancotti, the Lead at Alluva, believes crypto is based on its community, and the community that understands and supports it, needs to be rewarded. James has followed the crypto market since bitcoin started receiving attention and has consistently predicted BTC and crypto market trends.

He has fulfilled roles at Goldman Sachs, Capgemini, JP Morgan, and Deloitte Consulting, gaining experience as an investment banker, strategist, investor, and research analyst. He recently built Oddup, the world’s leading startup company for rating and insights. Having led a massive transformation in startup investment through Oddup, he has expanded this effect to the latest trend in the space – cryptocurrency and blockchain

What is BitMax.io?

BitMax.io is the industry leading next-generation digital asset exchange that provides a broad range of financial products and services to both retail and institutional clients across the globe. This innovative trading platform was founded by a group of Wall Street quant trading veterans and built upon the core values of blockchain, transparency, and reliability, to deliver high-quality client services and trading experience.

The BitMax.io team went beyond traditional transaction-mining-only exchanges when they introduced a revolutionary combined trading model of “transaction-mining” and “reverse-mining.” Platform users receive BTMX tokens as a reward for trading on the platform as well as rebates for executing maker trades. “Reverse mining” helps to encourage liquidity on the platform.

BitMax.io always strives to provide its global users with a comprehensive set of trading products. Its newly launched margin trading function is another step forward from product offering perspective to better serve their dynamic trading needs. For those users who understand and acknowledge the risks involved in margin trading, the function allows users to borrow funds from the platform and to trade more digital assets than they normally could afford. (The margin trading function of BitMax.io is not available for North American markets.)

With increased buying power, users can leverage their tradable asset as collateral for potential higher return on investment when the price goes up. However, they need to bear the risk of potential losses from margin trading when the price moves down. Overall, the launch of margin trading product can support increased volume and liquidity of the platform.

A beneficial partnership

With the commitment to listing only industry top-quality products as part of its client-centric strategy, BitMax.io has expanded its global client base to over 110,000 registered users and 40,000 active community members. It has already formed strategic partnerships with a number of top projects, and the partnership with Alluva, is yet another one. Both BitMax.io and Alluva are committed to broadening the global adoption of digital assets.

As Alluva evolves, it hopes to bring clarity in the cryptocurrency space and make investment decisions easier. This would lend supporting for facilitating the adoption of blockchain and digital assets.

For more information, follow BitMax.io on:

Website: http://www.BitMax.io

Twitter: https://twitter.com/BitMax_Official

Reddit: https://www.reddit.com/r/BitMax/

Telegram: https://t.me/BitMaxioEnglishOfficial

Medium: https://medium.com/bitmax-io

CONTACT: [email protected]

This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the press release.

Published at Thu, 14 Mar 2019 02:21:05 +0000

November 25, 2017

This Bitcoin Developer Is About to Take on the Mining Hardware Industry

BtcDrak, the most active pseudonymous bitcoin Core contributor to date, is making a move into the mining hardware industry. The developer, who besides having contributed to the bitcoin Core repository also maintains bitcoincore.org and the bitcoin Core Community Slack, told bitcoin Magazine he helped set up ASIC chip manufacturing company Halong Mining over the past year, and produced an initial batch of mining hardware, with plans to ship to consumers in early 2018.

“We started a mining project with the aim to bring much needed competition to the market,” BtcDrak said. “We want to ‘make SHA256 great again.’”

The Miners

As listed on the company website, Halong Mining is launching a product line that consists of one machine for now: the DragonMint 16T. The miner — its name references the Dragons’ Den, an (in)famous private chat channel on the bitcoin Core Community Slack — is said to be equipped with newly designed chips and can produce a total of 16 terahashes per second. Importantly, BtcDrak claims that the machines are about 30 percent more energy efficient than the most efficient ASIC miner on the market right now, Bitmain’s AntMiner S9.

“The DragonMint will be the most advanced miner to date,” he said.

The main bottleneck to entering the ASIC market is typically capital: developing specialized chips from scratch is expensive. While BtcDrak preferred not to disclose much information about Halong Mining for now, he did note that the machines have been produced by a team with “serious expertise.”

According to the developer, Halong Mining has invested $30 million in research and development so far, with over 100 people involved, including chip designers, electronics hardware specialists and software designers.

“Research and development is not cheap, and we need a lot of diverse skills,” BtcDrak explained.

Halong Mining has now produced a prototype batch of DragonMint machines for testing and fine-tuning, BtcDrak said, but these will not be sold to the public due to risk of reverse engineering. He emphasized that the machines are working, however, adding:

“Other companies that want to enter the ASIC mining industry develop everything in simulations, and then the first presale batch tries to pay for small production. But the NRE [non-recurring engineering] and making wafers is fraught with difficulty; the first run is not easy to do well.”

Halong Mining published a video of a DragonMint on YouTube today. BtcDrak thinks the first mass-produced run of DragonMint miners will happen within about four months and begin to ship in March of 2018.

Apart from the DragonMint machines, he says Halong Mining will also be selling mining chips separately, in bulk.

The Competition

With the introduction of DragonMint miners, Halong Mining should offer an alternative for Bitmain’s mining hardware, which has dominated the market for the past few years. An estimated 70 percent or more of the hash power on the network today is produced by Bitmain machines, and around half of all hash power is pointed to mining pools that are either owned by or closely affiliated with Bitmain, such as AntPool, BTC.com, ConnectBTC and ViaBTC.

“One manufacturer as a monopoly is not good for bitcoin,” BtcDrak said. “Centralization in mining is a problem regardless of how benevolent you are. If there is a center, then governments and criminals can attack it. Decentralization protects the entire system and all its participants. So I wanted to bring competition.”

Bitmain in particular has also not made itself popular within segments of the bitcoin community over the past years. The Chinese ASIC manufacturer was at the center of the AsicBoost and Antbleed controversies. And perhaps more importantly, some speculate that the company exerted its influence over the mining ecosystem by allowing or limiting hardware sales based on how hash power from the machines was used. Bitmain has always denied this is the case, however.

Halong Mining wants to distribute ASIC miners “far and wide to help decentralize mining,” BtcDrak said, adding that the company is considering open sourcing its board designs and software. This would help new manufacturers get a foothold in the industry, building on the research already done by Halong Mining over the past year.

BtcDrak concluded:

“There is a lot at stake here. A lot of time and money has been invested … and we have a huge opportunity to bring more diversity to bitcoin mining, and in turn help secure the network more.”

This article was slightly updated, in part to better reflect the scope (and limits) of our knowledge about Halong Mining and the DragonMint machines.

The post This Bitcoin Developer Is About to Take on the Mining Hardware Industry appeared first on Bitcoin Magazine.