Good news has come to the crypto community. Two major players of the cryptocurrency arena — NAGA and Ontology — have announced their long-term strategic that is aimed at bringing “significant and powerful change” to the financial-technology (fintech) market. The companies are going to revolutionize the way business is run.
The two projects have an aim to change the fintech market through implementation of highly-effective public blockchains supplemented by distributed ledgers and smart contract systems. The idea is to provide support to real scenarios and applications in the business sphere.
is a German company that is focused on financial markets, cryptocurrencies, digital assets and goods. It has become a unified cryptocurrency ecosystem that ensures absolutely transparent and secure trade of financial instruments and virtual goods of different types through the first of its kind crypto-gateway.
Ontology is a project of another type. It is an open public multi-chain project and a distributed trust cooperation platform. Ontology offers public blockchains with a range of distributed ledger and smart contract systems. Ontology provides different protocol groups that support cooperation amongst chain networks.Moreover, its system has a capacity to adapt public blockchains for various applications.
The two blockchain giants will unite their forces to analyze development and implementation of applications, creation of distributed trust ecosystems and new public blockchain infrastructure. All this work will be done with a view to bring changes to real scenarios and business applications.
Though two large projects, having purposes and ideas as NAGA and Ontology have, quire rarely establish such strategic partnerships, NAGA and Ontology teams are quite excited about the opportunities that now will be opened for them.
Yasin Sebastian Qureshi who is NAGA Founder and Executive Director said: “We think that this partnership can really change the way crypto companies act and execute their promises. Our and Ontology’s precision and hard-working ethos will help us to not only deliver products ahead of the roadmap, but to also make them more reliable and more valuable for the whole community”.
His colleague Benjamin Bilski, NAGA Founder and Executive Director, is also very positive about their new partnership: “We are super excited about the Ontology project and we are eager to announce new developments in cooperation with the platform. We believe that it will help to boost and grow our business exponentially”.
Their partners from Ontology consider the strategic partnership to be rather promising and mutually beneficial for the both projects as well. The project’s founder Jun Li stated: “We are happy to welcome NAGA to build up the application ecosystem through wielding Ontology’s next-generation public chain infrastructure […] We feel confident that together we can open up the international market, expand the Ontology ecosystem, and advance global blockchain development”.
While NAGA is aimed at ensuring financial inclusion for different social groups all over the globe, Ontology is working on providing identity, trust, data exchange, and authorization to various industries, among its priority target groups are governments, the medical sphere and the insurance industry. The variety of Ontology’s projects and its experience in different spheres can become a good supplementation for NAGA’s ecosystem, bringing even more trust and efficiency on its platform. But only time will show how these two giants will be getting along.
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According to research by , it’s thought that 70% of new hedge fund launches in 2018 will use computer supported investment processes. That includes using things like A.I. and machine learning to make the trading process easier and more effective. It’s clearly becoming more and more important for traders to turn to technology for that all-important edge.
And this is even more important in the world of cryptocurrency trading. A 24/7 market which is inherently tied to the world of tech, crypto traders have a lot to gain by adopting trading algorithms, and a lot to lose by neglecting this area.
The thing is, using technology on this level is possible if you’re a millionaire or a financial firm — not so easy for most ordinary individuals. That’s because building algobots – algorithms which work automatically – is a tough process, something most people just aren’t qualified for.
It is, however, possible. And some platforms want to make the process easier and more accessible for everyone. Let’s take a look at the current problems facing crypto traders.
Why Algorithms are so Important
Simply put, most people just don’t know how to code well enough to build a decent, working algobot. You might know a good programmer with the necessary skill set, but how likely are they to help you out for free? The chances are, it’s going to cost you.
For these reasons most people, daunted by the cost and barrier to entry, opt to struggle along on their own through the world of crypto trading. That’s not ideal, because crypto can be an unforgiving marketplace.
Crypto markets are , often experiencing huge shifts in value very quickly. What’s more, unlike traditional markets they never stop — operating on a 24/7 basis. For those who trade without algobots, these two factors alone combine to create a situation that’s a big accident waiting to happen.
The infamous huge value shifts in crypto can happen – quite literally – overnight, when no sane person is going to be monitoring their trades. What’s more, human impulse and recklessness have been proven time and again to be a major cause of trading mistakes. It’s the reason big financial firms automate so much — humans just aren’t that reliable.
It’s also all-too-easy to lose track of trades and forget to take important action, especially when you have a life outside of trading to attend to. For these reasons and more, automation makes things significantly easier and helps avoid the likelihood of disaster.
But it’s extremely difficult and expensive to get to a point where you can rely on algorithms to a meaningful extent. At least, that was the case until now. But what if building algobots could be done without any real coding skill at all?
How to Fully Automate Your Crypto Trading
This is where platforms like have entered the game. This tool allows people with no coding background at all to build and design algobots and their own personalized automated trading strategy.
The platform is very simple: users simply enter their instructions in plain English and the SaaS program takes care of the rest, building and compiling your own automated strategy and then connecting it to an exchange of your choice in one click of a button.
This is a game changer for individuals because automation is something that was reserved to professional traders until recently, and is now a.
In the future, it’ll be possible to package successful algobots and sell them to other users of the platform. This way, talented traders can monetize their success further and help others.
This helps leveling out the playing field, so that successful trading of crypto is no longer restricted to the rich and influential. Ordinary people can take advantage of the same methods that powerful organizations use to trade, and experience much greater success than they would on their own.
For anyone involved in crypto trading, adopting algorithms could make the difference between failure and success, and it’s never been so easy.
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The crypto startup ETH888 has created the most feasible and provably fair lottery games on the Ethereum blockchain where participants can play Status browser or Ethereum wallet enabled environment, with instant result generation.
At similar blockchain-based online casinos, it takes one block time – or even up to several minutes – to generate a random result. It is not only time-consuming for the players but it costs them more since the process requires significant gas consumption. The ETH888 team invested their time to research and to develop a breakthrough off-chain technology for instant random result generation that takes no more than 3 seconds, about 1/8 block time, and also saves at least 50 percent gas consumption. Beta game versions are already live in Ropsten testnet.
Based on 2017 stats, the online gambling industry’s value is standing near 51 billion USD. The team behind ETH888 strives to develop the most responsive decentralized lottery house with the highest possible transparency and reasonable House Edge. The house will be using VAN tokens for currency within the platform. 40 percent of the house profits will be distributed to the Vanil pool where VAN token holders can share a portion of the profits determined by the amount of tokens owned. The first game in the mainnet will be ready by the Q3 of 2018.
ETH888 is holding a VAN tokensale started on April 28, 2018 with a hardcap of 1,085,180 VAN tokens lasting for 4 weeks, with 4 offers against weeks, 400 / 300 / 200 / 100 VANs per Ether. Currently, 400 VANs / Ether offer will end on May 5 2018. According to ETH888, the token sale is essential to raise ETH capital for the team for backing game payouts.
Contact Email Address
info@eth888.io
Supporting Link
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A well-known bank in Belarus will begin offering a bitcoin contract for difference (CFD) product through its platform, a joint project with a Swiss bank. Meanwhile, Belarus is growing less crypto friendly, reportedly amending its decree to impose strict KYC rules.
Also read:
New bitcoin CFD Product
Mtbankfx is an accredited FX dealer and the first banking forex platform in Belarus. Launched in July 2016, it is a joint project between Minsk Transit Bank (Mtbank), one of the most well-known banks in Belarus, and Swiss Dukascopy Bank SA.
The platform will start offering a bitcoin CFD product next week, according to local media. It has already added information and updated its terms of service to reflect this new offering.
Mtbankfx explains in its terms of service that its tools, including the BTC/USD tool with 1:3 leverage, are “available for transactions around the clock – from the opening of the market on Sundays at 21:00 GMT in the summer (22:00 GMT in the winter) until the market closes on Fridays at 20:00 GMT in summer/winter time.” For the bitcoin CFD specifically, the company wrote:
All open positions as of 20:00 GMT Fridays will be forcibly closed.
While the platform offers CFDs for many underlying assets, the bitcoin CFD is the only one that will be forcibly closed.
On March 29, Switzerland’s Dukascopy Bank SA launched its own BTC/USD CFD product for European clients. “bitcoin to US Dollar (BTC/USD) with leverage 1:3 has been added for live trading,” the company stated.
Belarus Becoming Less Crypto Friendly
Alexander Lukashenko.
Belarusian president Alexander Lukashenko signed the decree “On the development of the digital economy” in January that cryptocurrencies, initial coin offerings, and smart contracts. The decree went into effect in .
However, local media reported this week that amendments to that decree are already being prepared to obligate cryptocurrency exchanges operating within the High-Tech Park (HTP) to disclose their data and identify customers.
Ria Novosti’s source explained that “beneficiaries must meet the requirements for reputation” such as having no criminal record and no bankruptcy proceedings against them, in whole or part. “They should [also] show the availability of funds in accounts of at least $5 million and confirm the sources of their origin.” Additionally, Forklog elaborated:
Operators are required to identify the clients of the exchanges, as well as record and store all types of communications with them. In certain cases, exchange-residents of the HTP will be required to conduct customer verification procedures.
The news outlet added, “information about customers and their transactions should be stored at crypto exchanges for at least five years.”
Do you think Belarus will become even less crypto friendly? Let us know in the comments section below.
Images courtesy of Shutterstock and Mtbankfx.
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