Bitcoin is the primary rock of crypto currencies and still the largest crypto currency by market capitalization. In August 2017, the Bitcoin community split as Bitcoin struggled with high transaction fees and slow transmission times. The split led to a hard fork from which Bitcoin Cash emerged.
With the increasing popularity in 2017, there were slow transaction times and high fees due to the overload of the Bitcoin network, which of course reduced the user-friendliness and broad acceptance to a certain extent. However, due to the Segregated Witness (SegWit) and the increased use of the Bitcoin Lightning Network, today’s fees are at a historic low. Since 2011, transaction fees have not been as low as today.
Segregated Witness and the Ethereum code Network
SegWit was capitalised on 24 August 2017 and in the following October the share of transactions via Ethereum code increased from seven to ten per cent. According to an article by The Next Web, the number of Ethereum code transactions now stands at 38 per cent.
Although SegWit caused a stir when it was launched, many key industry players announced their support, including Bitfinex and Coinbase. Recently, Ted Rogers, president of Xapo, a popular wallet company, tweeted that the company was integrating SegWit.
The Bitcoin Lightning Network is also developing rapidly, and we recently reported on the growth of the second-layer protocol.
The Bitcoin Fees according to onlinebetrug
In early 2018 the transaction fee was 453.57 sats/byte, but in early April the median BTC transaction fee fell to below 10 satoshis per byte before rising to nearly 40 sats/byte by the end of April. According to onlinebetrug, the median transaction fee (May 29, 2018) is 8.43 Sats/Byte.
Median figures by onlinebetrug are generally much more informative for data like fees or transaction value since the data is normally extremely (positive) skewed, hence the addition
What does it all mean?
Every crypto-enthusiast dreams of a “mass adaptation”. With high fees and slow transaction times, however, this seems unattainable and can in practice only be used economically as an investment or for large-volume purchases. If the downward trend in transaction fees continues, crypto currencies will be more accessible and functional in our everyday lives. Of course, we are currently experiencing a significant easing of the transaction situation compared to December 2017. But at the moment almost every crypto team is working on improving scalability.
The QASH Token is the crypto currency of the QUOINE LIQUID platform. The development is intended to create a global, decentralized platform that solves the liquidity problems of the crypto currencies and simplifies the purchase and exchange of coins.
QASH Token – What is this Bitcoin profit good for?
The QASH crypto currency is an ERC20 token, so it is based on the Ethereum blockchain tested by the review of the Bitcoin profit. The primary function of the token is to serve as a means of payment within the platform for different services. In addition, holding tokens on the QASH wallet should also be rewarded with benefits and give the opportunity to invest in initial Bitcoin profit coin offerings that take place on the QASH platform. According to the developers, the token has the potential to replace Bitcoin as a means of payment.
The main goal of the development is the QUOINE LIQUID platform. This platform aims to bring liquidity to the crypto currency business. Many traders face the problem that most crypto currencies are tradable on a small number of exchanges. If one would like to exchange between the different coins, this project usually includes several accounts on different stock exchanges, several conversions to Bitcoin/Ether or the purchase with Fiat money. Or in short: It can be extremely cumbersome. In addition, there are multiple fees involved. The QUOINE LIQUID platform connects these exchange exchanges with each other.
QASH Token – Who is the Bitcoin trader behind the crypto currency?
This is done, among other things, by the World Book. This collects all prices of the Bitcoin trader exchanges and makes them available in a clear list. Thus the Bitcoin trader sees immediately the cheapest price of the desired crypto currency. At the same time, this system also gives unknown and small exchange exchanges the chance to be discovered. With two “books”, the Internal Order Book and the External Aggregate Order Book, the platform is supposed to create exchange pairs between two currencies, which otherwise would not exist, because the crypto currencies are distributed on different exchange exchanges.
In most cases, an alternative coin can only be exchanged for Bitcoin or Ether, but this should make it possible to create completely new exchange pairs. Several technologies make these transactions possible: Matching Engine is able to process several million transactions per second. The Cross Currency Conversion Engine automates and makes possible the conversion of crypto currencies. Finally, there is Smart Order Routing, which monitors and lists the exchange exchanges. Prime Brokerage is like the user interface of the platform. This gives you access to the exchanges as if you had an account there. This is what makes trading possible in the first place.
QUOINE was founded in 2014 by Mike Kayamori (CEO) and Mario Gomez Lozada (CTO). Kayamori was previously Senior Vice President of SoftBank Group and Chief Investment Officer of Gungho Asia. Lozada was CTO of Merrill Lynch in Japan for 11 years, after which he became Information Manager at Credit Suisse Japan. The team also includes other financial specialists, often with an Asian background, as well as other software developers who take care of the technical side of token development. QUOINE is the first crypto currency company to be officially licensed by the Japanese Financial Services Agency. The developers already maintain the exchange platforms QUOINEX and QRYPTOS, which will be integrated into the network of the QASH token.
Bitcoin falls | The exhaustion of the bull market in the Bitcoin market could affect all crypto currencies in general. All top 100 crypto currencies by market capitalization are in the red according to CoinMarketCap data.
Bitcoin falls, what is behind it?
Bitcoin (BTC) has fallen by over 8 percent in the last 24 hours. This is shown by the bearish reverse pattern on the daily charts and the head-and-shoulder breakout on the hourly chart.
At the time of release, BTC had fallen to $9,958 – a 16.72 percent drop from its high of $11,958 on the 20th.
As described above, Bitcoin Cash (BCH), which has fallen 10.58 percent in the last 24 hours, is the biggest loser among the top 10 crypto currencies. It has dropped 24.11 percent from the current high of 1,641.40 dollars. The rise of the crypto currency was interrupted by key resistance at $1,533.
Ripple has formed five new partnerships in four countries
In addition, the San Francisco-based start-up has published white papers indicating an upgrade to XRP’s underlying technology. However, today’s decline suggests that the good news has been ignored by the markets or overshadowed by widespread crypto losses.
As mentioned earlier, the few tokens currently rising are all outside the top 10, including small caps like Nano (8.15 percent in the last 24 hours) and Dentacoin (plus 2.48 percent).
The total value of all crypto currencies together is $445 billion – just under 15 percent below the peak of $519 billion on February 18. But still 61 percent above the February 6 low of 276 billion dollars.