Market Update 6.04.18 – Maqta Gateway LLC Deploys Blockchain Solution
Market News
Maqta Gateway LLC Deploys Blockchain Solution
The Abu Dhabi Ports’ wholly owned subsidiary Maqta Gateway LLC is now the first organization in the kingdom of Abu Dhabi to use its own Blockchain technology named Silsal. Silsal is targeted at improving efficiency in the shipping and logistics sector. By using an internally created Blockchain, the company is hoping to reduce the amount of paperwork there is and also establish real-time status updates on shipments.
Developed and created by Maqta, Silsal will be available to only freight forwarders as well as their customers in the beginning. The system will later be available to the rest of the trading community as a complimentary tool which will be added to the currently active mPCS (Maqta’s Port Community System).
Read the rest of the story here.
Baidu Announces Next Step in Blockchain Integration
The Chinese online giant Baidu has just announced the next set of steps it is taking in its drive towards Blockchain integration. Baidu is launching a new protocol that is aimed at decreasing energy consumption during the cryptocurrency mining process.
This new protocol has been named “Super Chain” and was revealed to the public at a local conference this weekend by the company’s Chief Scientist, Xiao Wei. According to Wei, Super Chain can insert as well as remove consensus mechanisms so that current energy consumption issues can be resolved. He said that this protocol was compatible with the Bitcoin and Ethereum Blockchains.
This launch is the latest in a series of experiments in the crypto sector by Baidu, the earlier one being the company’s launch of its Blockchain-as-a-Service Solution earlier in January this year.
Find out more here.
Japan’s First Bank-Backed Crypto Exchange Launched
Japan’s financial behemoth, SBI Holdings revealed on Monday that it has launched its in-house cryptocurrency exchange, making it the first crypto exchange to be backed by a bank. The exchange, called VCTRADE, has gone live after months of delay caused by security issues.
The cryptocurrency exchange’s services are currently only available to customers who had pre-registered on this platform in October last year, when the bank had announced this new initiative. The exchange will currently focus on trading in XRP, though later, the exchange will open up to other cryptocurrency trading like Bitcoin and Bitcoin Cash. However, at this time, the timelines for these added cryptocurrencies is unknown.
Find out more here.
Total Market Cap: June 04
Global volume in crypto trading is now at $16.93 billion, with the market’s capitalization at $343.21 billion for the beginning of the week.
Bitcoin Price Analysis: June 04
Bitcoin lost 1.13% to trade at $7629.75 since yesterday. The trading volume in BTC is $4.94 billion and its market cap is $130.06 billion.
Ethereum Price Analysis: June 04
Ethereum gained 0.47% to trade at $608.47 in the past 24 hours. Trading volume for ETH is $1.86 billion and market value for ETH is $60.56 billion.
State of the Top 10 Cryptocurrencies: June 04
After a weekend of price gains for all the top ten cryptocurrencies, the beginning of the week is off to a not-so-good start. 7 of the top 10 cryptos have dropped in token prices as well as market capitalization, with IOTA experiencing the worst losses at a 10.25% price drop. ETH, XRP and BCH where the three cryptos that saw some gains.
- Bitcoin’s price dropped 1.13% to $7629.75 and its market value is $130.06 billion.
- Ethereum’s price gained 0.47% to $608.47 and its market value is $60.56 billion.
- Ripple’s price gained 1.33% to $0.665896 and its market value is $25.99 billion.
- Bitcoin Cash’s price gained 1.36% to $1136.15 and its market value is $19.51 billion.
- EOS’s price dropped 5.27% to $14 and its market value is $12.47 billion.
- Litecoin’s price dropped 2.08% to $121.82 and its market value is $6.92 billion.
- Cardano’s price dropped 8.06% to $0.216280 and its market value is $5.60 billion.
- Stellar’s price dropped 3.18% to $0.297514 and its market value is $5.52 billion.
- IOTA’s price dropped 10.25% to $1.75 and its market value is $4.83 billion.
- TRON’s price dropped 3.82% to $0.059550 and its market value is $3.91 billion.