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The Original Software Wallet Releases its First Hardware Wallet

Blockchain is releasing its first hardware wallet, called the Lockbox. The company that is synonymous with having one of the oldest software wallets will begin shipping its new device in November.

Blockchain’s Lockbox

Blockchain’s online software wallet boasts over 30 million accounts, so will its new hardware device do the same?

The company partnered with hardware wallet maker Ledger to create the Lockbox and has already begun taking orders.

The Lockbox is setting out to be different. It allows the user to make crypto-to-crypto trades through Blockchain’s native brokerage called Swap. This platform launches next week, and the idea behind it is to make trading and storing happen all in one place.

As Blockchain CEO Peter Smith put it:

“For us, what’s really important right now is to get the product to a point where you don’t need other places to complete your user actions in crypto.”

Also, Lockbox can only connect with legitimate websites thanks to an innovative safety feature within the device. This will reduce phishing attempts and hacks. The company calls this “endpoint-controlled” and it means a user can’t be tricked by a fake site.

>> Coinbase BCH Insider Trading Case Dismissed by US Court

Lockbox Wallet Support

The wallet will support Bitcoin, Ethereum, and Bitcoin Cash to start. However, if demand dictates it, the team is willing to support other coins.

Creating the Lockbox with Ledger will help this along as Ledger has support for nearly 100 crypto assets.

Smith has been noted as saying “I think we will be more aggressive on adding assets in the next six months […] In the long run, I see our trading system being both a consumer and a provider to DEXs (decentralized exchanges).”

Smith continued:

“We built a machine trading platform […] It connects to different liquidity [sources] across the ecosystem, everything from different exchanges to market makers.”

Is a hard wallet your preference? Blockchain and Ledger both have huge user number and good reputations. Will Lockbox be a success?

Featured Image: Depositphotos/© TPOphoto

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The Original Software Wallet Releases its First Hardware Wallet

Blockchain is releasing its first hardware wallet, called the Lockbox. The company that is synonymous with having one of the oldest software wallets will begin shipping its new device in November.

Blockchain’s Lockbox

Blockchain’s online software wallet boasts over 30 million accounts, so will its new hardware device do the same?

The company partnered with hardware wallet maker Ledger to create the Lockbox and has already begun taking orders.

The Lockbox is setting out to be different. It allows the user to make crypto-to-crypto trades through Blockchain’s native brokerage called Swap. This platform launches next week, and the idea behind it is to make trading and storing happen all in one place.

As Blockchain CEO Peter Smith put it:

“For us, what’s really important right now is to get the product to a point where you don’t need other places to complete your user actions in crypto.”

Also, Lockbox can only connect with legitimate websites thanks to an innovative safety feature within the device. This will reduce phishing attempts and hacks. The company calls this “endpoint-controlled” and it means a user can’t be tricked by a fake site.

>> Coinbase BCH Insider Trading Case Dismissed by US Court

Lockbox Wallet Support

The wallet will support Bitcoin, Ethereum, and Bitcoin Cash to start. However, if demand dictates it, the team is willing to support other coins.

Creating the Lockbox with Ledger will help this along as Ledger has support for nearly 100 crypto assets.

Smith has been noted as saying “I think we will be more aggressive on adding assets in the next six months […] In the long run, I see our trading system being both a consumer and a provider to DEXs (decentralized exchanges).”

Smith continued:

“We built a machine trading platform […] It connects to different liquidity [sources] across the ecosystem, everything from different exchanges to market makers.”

Is a hard wallet your preference? Blockchain and Ledger both have huge user number and good reputations. Will Lockbox be a success?

Featured Image: Depositphotos/© TPOphoto

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New token Makes Unprecedented Gains after Binance Listing

Coinmarketcap.com has a new listing in its top 100. As of Sunday, Ravencoin has been occupying the 58th spot thanks to a Binance listing and has sustained a growth of 118% since that announcement.

Within ten days, the coin has grown its market cap from $212,000 to $49 million! This is a rather unbelievable rise of 23,000%.

In the last 24 hours alone, the coin has grown by 55%. It is now selling at $0.056.

About Ravencoin

If we look at its chart, Ravencoin obviously went relatively unnoticed until its Binance listing. But what is Ravencoin? And why did Binance take an interest?

Well, the coin has been around since 2017, and it is about to mark its one-year anniversary with an upcoming mainnet launch on October 31st.

>> Blockchain and Shipping: Samsung SDS Signs Deal with Largest Port in Europe

The Ravencoin protocol is open-source and available to the public. Built off of a Bitcoin fork, it has a focus on the creation of digital assets on its Proof-of-Work (PoW) blockchain. According to its official documentation:

“Assets can come in a variety of types, such as financial instruments such as security tokens/stocks/bonds/deeds/etc as well as gaming items (ex. a sword)/conventional asset management/managing distributions for co-ops/digital art. There are a lot of real-world applications that this blockchain is intended to disrupt and improve.”

Humble Beginnings

With no ICO, the project was built up by a small team of dedicated people. Because of this, CEO of Binance, Changpeng Zhao, allowed the project to list without any listing fees. It began trading on October 12th, and over 85% of its growth has come from Binance trades since.

“The project is a true open source project with no pre-mine, no ICO, no masternodes, and is focused on building a useful technology with a strong community.”

Binance is the world’s top exchange with the highest trading volume.

No coin has seen gains like this since Bitcoin’s demise last year. Will the gains continue, is the question? Would you invest in Ravencoin?

The most humble of acorns may prove to be the most fruitful yet; let’s keep our eye on this one!

Featured Image: Depositphotos/© tomwang

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Litecoin Transaction Fees | Reducing in Next Core Release

Litecoin transaction fees are set to be lowered by ten times in the next Core release.

The team behind the seventh biggest coin by market cap revealed the news via a Medium post earlier today.

Litecoin Transaction Fees Set to Lower

Currently, the average Litecoin transaction fee equates to about $0.05 per KB. But the network’s upcoming release of Litecoin Core 0.17 is going to lower this by a factor of 10. With the new changes, the new fee should equate to $0.005, or half a cent.

At that price, Litecoin transaction fees will mimic 2015 levels.

Increasing Prices

The core developers made the decision to combat the rising price of Litecoin transactions fees. Transactions could cost over $0.10 and even hit just over $1.00 on occasion.

Core Lead Developer Adrian Gallagher elaborated on the move saying:

“To encourage more adoption and usage of Litecoin, I think lowering the fees are [a] good thing. We’re not even close to block limits and the block size on disk is pretty small (20GB) relative to other coins. Technically people can already adjust their fees right now to the one above because of the more relaxed min relay/dust relay fee. I also don’t think it will be too much longer before this bear market is over (3–6 months) so it will lay down the foundation for a fee rate which we can grow into proactively rather then [sic] re-actively.”

>> India’s Largest Bitcoin Exchange, Zebpay, Relocates to Malta

A Bit about Transaction Fees 

Transaction fees depend on the space used in a block to register the transaction. The fee is like paying for that space in the block and gives miners an incentive to process your transaction.

Processing fees begin to increase when demand outweighs space. Litecoin still has a lot of space in its blocks, and so there is no need to ‘bid’ for transactions. This is why Litecoin transaction fees can be so small.

In traditional fiat currency transactions, fees are dependant on the amount of money being sent. The larger the transaction amount, the larger the fee.

But crypto transactions are different. The larger the transaction data, the larger the fee. Transaction data means the number of outputs and inputs or addresses on the network where the crypto is moving to and from. Therefore, transaction fees can differ and someone sending a small amount, may actually pay more in transaction fees than someone sending a larger amount.

Featured Image: Depositphotos/© sdecoret

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Ripple (XRP) and Litecoin (LTC)

The cryptocurrency market is currently sitting just above $210 billion this morning. While mainstream media is heavily focused on cannabis at the moment, blockchain companies are still making moves in the background. Today, we’ll take a closer look at Ripple (XRP) and Litecoin (LTC) and the latest advancements with the two projects.

Ripple (XRP)

Ripple and XRP are often confused as the same and are often grouped together because what Ripple the company does ultimately affects/influences the price of XRP.

Less than a month ago, Ripple revamped its website to solely focus on RippleNet. RippleNet has just expanded its xRapid platform that uses XRP as liquidity for financial institutions. While its xCurrent platform currently has over 100 banks and financial institutions signed up and testing its XRP-less platform, Ripple’s goal is to eventually transition these institutions to RippleNet.

Ripple’s press release explained why using XRP is crucial for cross-border transactions:

“Pilots in the crucial U.S. to Mexico remittance corridor using XRP as a digital asset demonstrated savings of 40-70% compared to traditional costs. At the same time, it helped lower settlement times from two to three days to just over two minutes.”

At press time, XRP is currently trading at $0.465 a coin, up 0.34%, in 24 hours.

>> Small Bitcoin Fee: Only 10 Cents for $194 Million on the Bitcoin Network

Litecoin (LTC)

On Tuesday, LTC began trading on Gemini.

Gemini is the cryptocurrency exchange owned by the US Olympian Winklevoss Twins. Gemini is currently the 42nd largest cryptocurrency exchange by its total trading volume on CoinMarketCap.

BTC/USD pairs still equate for over 80% of the exchange’s volume in the last 24 hours. So far, LTC/USD only makes up 0.73%, with a volume of $214,836. On the 15th when the announcement was made about LTC being launched on Gemini, LTC surged 10% in an hour but quickly corrected.

The Litecoin Foundation also just celebrated its 7th birthday on the 12th.

According to CoinMarketCap, LTC is currently trading at $53.00 a coin, down -0.40%.

Check back in for more Ripple and Litecoin news!

Featured Image: Depositphotos/© adriantoday

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