CryptoNews from 21.08.2017

From Monday: Ethereum and OmiseGo collaboration making progress; Lighting Network available from 22.08; ICO Investments; Drop on exchange

• Ethereum and OmiseGo collaboration making progress.

The Central Bank in Thailand in mid-August 2017 held a meeting with Ethereum founder Vitalik Buterin to talk about the future of the Thai economy and its financial sector. The parties discussed in particular the possible integration of the Ethereum currency and Blockchain-based services offered by companies such as OmiseGo to further improve the functioning of existing banking systems and financial platforms.

OmiseGo, which was launched in 2013, has developed technology based on Ethereum technology to introduce a cost-effective and secure payment processing infrastructure based on Blockchain technology. Over the past four years, the company has been able to expand its operations across Asia and was supported by leading investment firms. The company also received support from several industry experts such as Ethereum Buterin co-founder and Gavin Wood expert and Bitcoin expert Joseph Poon.

In their statement, the OmiseGo team said it was to facilitate financial transactions through Ethereum Blockchain:
"With a network connected to the Ethereum main chain, everyone will be able to carry out financial transactions such as payments, transfers, payment, B2B, supply chain, loyalty programs, asset management and trading and other on-demand services in a completely decentralized and inexpensive."

Meanwhile, several Thai companies have adopted Blockchain technology in their operations. Among them is the leading Thai commercial bank Kasikornbank, which has worked with an IBM technology company to integrate HyperLayer Fabric Blockchain with existing systems used to process letter of guarantee. In addition, many countries in the region including South Korea, Japan and China have also announced their plans to test Ethereum's possible uses to improve existing government infrastructure.

• Lightning Network available today.

Technology was tested in May by Blockstream using Litecoina. Adam Back, founder of Blockstream, has held talks with BitTorrent president, Bram Cohen, on the potential integration of Lightning's microtransactions into his platform.

Ferdous's user on his Tweeter explained that the so-called "Layer 2" technology will be available from next Tuesday. He briefly outlined three key features of the change:

• Transactions with a fee close to zero
• Increased user scaling, meaning greater throughput
• Thousands of new applications

Although the introduction of Lightning Network is a significant milestone for the Bitcoin network, we are looking with great interest in the rollout of the SegWit2x implications.

• ICO Investments.

It is sometimes difficult to keep up to date with those who like to follow new currencies introduced to the market. That is why it is important to know what to look for when choosing a newly born cryptanalyst, both from the person who is interested in the project and the creator himself. The Initial Coin Offering (ICO) offer seems to be almost a daily event recently. We are seeing strong momentum in the development and implementation of new cryptanalyst proposals and applications. Due to diversity, ICO can be a complex and long-lasting process. Apart from the actual development of new coins (including exchanges, portfolios or other extras), there are a number of additional business and business factors to consider during the development process.

It has become clear that throughout the process, there is one, often overlooked, key element - the white paper. For those who have never looked at new ICO projects, a white paper is a project-by-project document that provides an analysis of a product, service, technology, or program. Describes the commercial, technological and financial details of a new coin and describes it in a simple way so that the reader can understand it. Simply put, it's all you need to know about the currency before you decide to invest in it and then use it.

It turns out that there is a large part of the ICO, which does not take the white paper seriously. They present little information about the offer to the reader, except for some marketing censors, ie how great the currency is and how to beat all others.

White books often contain information that most readers do not need. The final goal should be to present the necessary messages in such a way as not to bore the recipient. Readers often do not have the same level of technical knowledge as the creators, so it should be noted whether the way information is provided will satisfy all types of readers. Some people simply invest, with minimal technical interest. They just want to know what real opportunities exist for a given project and how they will benefit from it.

Some of the more exhaustive, concise and well-documented papers will contain pictures. Included graphs and graphics have additional meaning.

Potential investors should answer the basic questions: What value do we see in the currency in the future, what is its biggest market trap, are there any capital information, is there any FIAT element in the currency or are the most important financial information. There is no doubt that the White Paper should contain technological information. Information should be given in a balanced manner, giving the picture a whole perspective, that is, a description of how the technology works. If the project contains new patents, copyrights or actual protections that technology has installed, we should also refer to this topic. You need to find support in the forecasts of the numbers presented. Without tangible support and excellence, the offer may look like the creator only counts on his own financial gain.

• Drops on exchange

Today the stock market is dominated by red. The capitalization of the cryptanalyst market has not changed significantly and amounts to $ 144.8 billion. Bitcoin represents 46% of the total market and its price has decreased by 1.8%. Bitcoin Cash, after recent increases, recorded a sharp fall in prices (-15.8%). Among the biggest currencies is the Ethereum, which has become loud in recent days. Holders of this currency recorded a profit of 14.5%. Number one today is Monero - the currency has increased the unit price by 50.5%.