Trading

Binance Announces Decentralized Exchange, Bounty On Hacker

Submitted by Seth Goldfarb on Wed, 03/14/2018 - 17:15
03/14/2018
Binance Announces Decentralized Exchange, Bounty On Hacker

Binance, one of the world’s largest digital asset exchanges by trading volume, will be launching a decentralized exchange called Binance Chain. In their announcement, the company expressed their belief that the future will have a place for both centralized and decentralized exchanges and their intention to improve the trading experience for users of decentralized exchanged. Binance Coin (BNB), the native token on the Binance platform offering discounted trading fees, will be transferred to its own blockchain and incorporated for use on Binance Chain in addition to Binance.

The exchange also announced a bounty of $250,000 for information leading to the lawful arrest of the individual or individuals responsible for the hack that disrupted trading on March 7th. A phishing scheme allowed the hackers to collect login information from unsuspecting victims who saw their accounts drained to purchase VIA/BTC while other accounts created by the attackers sold pre-purchased VIA/BTC at the top of the market. Binance’s risk management system caught the irregular trades and temporarily closed withdrawals on the platform. Engineers then successfully managed to reverse the illicit trades, returning funds to users while keeping the funds pre-purchased by the hackers.

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DeHedge: Hedging Products for Cryptocurrency Investments

Submitted by Seth Goldfarb on Wed, 02/07/2018 - 04:16
02/07/2018
DeHedge: Hedging Products for Cryptocurrency Investments

As demonstrated by the recent market correction in both cryptocurrency and stock markets, hedging your bets should be considered a critical part in the development of a sturdy portfolio. DeHedge wants to make hedging investments in digital assets easier with a platform offering tools that allow users to hedge against various events ranging from dips in the spot price to hacked or cancelled ICO’s. Investors will be able to purchase hedging coverage using the DeHedge token, which will also be used to raise the funds to serve as collateral for the products offered by DeHedge.

    DeHedge uses their own scoring model incorporating data analytics to determine the amount of tokens required to purchase hedging coverage. The ICO hedging platform has been under development with release planned for March, 2018. Hedging products available to investors will include ICO cancellation, fluctuations in the spot price of tokens, wallet or ICO hacks, and volatility affecting mining and mining farms. Cofounded by CEO Mikhail Chernov, CCO Bogdan Leonov, and COO Dmitry Ansimov, the DeHedge, advisors to the project include wealth fund manager Jack Hunter, Senior Editor of Irish Tech News FinTech Specialist Simon Cocking, and Taras Yakovenko, a Risk and Business Management professional with over fifteen years of experience. 

The DeHedge ICO has been scheduled for March, 2018 but a specific date has not been set. Eighty percent of the tokens will be reserved as collateral for hedging products with fifteen percent going to the team and, two percent each for the bounty program and advisors and one percent for marketing. Of the amount allocated to the hedging reserve, eighty percent will be reinvested in cryptocurrency assets while the remaining twenty percent will be held for unplanned payouts. 
    Reinvesting eighty percent of the assets allocated to the hedging reserve in cryptocurrencies could expose DeHedge to a significant degree of risk but the availability of financial instruments like hedging products also helps decrease the volatility of digital asset markets. A number of projects in the cryptocurrency space aim to offer derivatives or other financial instruments of interest to traders but hedging products represent a relatively unexplored niche. No matter what the markets do for the rest of the year, demand for these products that allow investors to hedge will not be likely to go away. To learn more about DeHedge please visit their website at https://dehedge.com/

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Chapter 5 - Evaluating the Potential of Alternative Cryptocurrencies

Abstract
Since the creation of Bitcoin in 2009, many alternative cryptocurrencies (altcoins) have been created that claim to be the currency of the future. There are now over 440 active altcoins in the market and new ones are being created each day. With every altcoin claiming to offer distinctive features, it is becoming increasingly difficult for investors to evaluate the potential of each altcoin. This chapter explores the various types of altcoins in the market and methods to evaluate their mid-term potential. The chapter will discuss a practical approach to rank the altcoins based on social network data and discuss the results from traditional econometric techniques to study the behavior of Bitcoin and altcoins.