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Formula One Launching Blockchain Game ‘F1 Delta Time’

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Formula One, the Fédération Internationale de l’Automobile’s highest class of single-seater auto racing allowed, will see its owners, Liberty Media, launch a blockchain-based game in an effort to bring in a younger, more tech-oriented subset of fans. 


The game will come from Hong Kong-based gaming firm Animoca Brands and will be titled F1 Delta Time.

Non-Fungible Fun Time

F1 Delta Time will make use of non-fungible tokens (NFTs) as collectible elements. NFTs are a specific type of blockchain-based token that is verifiably unique and owned entirely by owner, who has the sole ability to sell, use, or trade it. For example, a player might own a car with unique characteristics or abilities that no other player owns, and the holder may decide to use it, sell it, or trade it. According to a report from Forbes, “all cars, drivers and components in the game are NFTs.”

Furthermore, all of the games NFTs “have special race day attributes that increase the chances of winning races and are produced in limited quantities as determined by their level of rarity.”

The game will launch in the near future, on May 10.

formula one

Brand Power

Formula One is one of the world’s most recognizable sporting brands, and its new blockchain-based game will almost certainly draw some level of attention to the increasingly-less-nascent technology. 1.6 billion viewers tune in to Formula One races, while 4.1 attend in person, according to Animoca. “Securing a partnership to make blockchain games with Formula 1 – one of the most recognized brands in sport – is a notable achievement,” Yat Siu, the company’s co-founder and chairman told Forbes. “We will leverage Formula 1’s considerable global reach to drive product uptake and revenue growth as together we seek to increase consumer exposure to Blockchain.”

The move from Formula One comes amid a declining audience in the sport’s most popular regions.

What do you think of F1 Delta Time? Will you play? Let us know your thoughts in the comments below! 


Images courtesy of Shutterstock.

The Rundown

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Bitcoin (BTC) At Feb 2018 Levels, Investors Readying For $15,000?

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Bitcoin (BTC) rally, adds 23 percentCrypto awareness better than it was two years agoPresently, Bitcoin’s market cap exceeds $200 billion. These are levels last seen 17 months ago, revealing the strength of buyers. From the charts, BTC bulls are solid as buyers aim at $15,000, adding 23 percent week-to-date.Bitcoin Price AnalysisFundamentalsIt’s a milestone for Bitcoin. Trading at over $11,300, buyers are steadfast. However, beneath all this is BTC’s resilience. If anything, this has been a journey of pure grit and determination. After hitting rock bottom at the height of last year’s crypto freeze, the resurgence has been spectacular.Blistering past resistance zones-now support, at $4,500, $6,000 and recently $10,000, these price spikes are an encouraging sight. For holders, losses of last year have more than halved as prices recover.However, from candlestick arrangement, buoyed mainly by supportive fundamentals, there is more wriggling space for savvy traders. Not only are regulators thawing, understanding that cryptocurrencies are here to stay, but investor awareness is improving.In the US, young adults below 35 years now prefer digital Gold over physical Gold. Although both are making a comeback with the latter breaking away from a five-year trade range, BTC has more potential. It is global, a store of value and is also a settlement layer cutting across borders.Therefore, as Baby Boomers hand over their rightly accrued wealth, fund managers will likely slot part of these billions into BTC, further boosting the digital asset market cap currently standing at over $200 billion.Candlestick ArrangementBitcoin BTCExpectedly, accompanying this resurgence is improving sentiment. Revealing this optimism is increasing volatility and the rapidity of recent advances. As BTC bull candlesticks band along the upper Bollinger Band (BB), every correction is technically another buying opportunity.It will remain so as long as prices are trading above the $10,100 mark or June 22 low. At this pace-and coupled with geopolitical events, bulls are firmly in control. In light with increasing participation following the obliteration of the $10,000 resistance level, traders should tune their entries in smaller time frames. After that,targets will be at $12,000 and $15,000 as laid out in previous BTC/USD trade plans.Technical IndicatorsAnchoring this advance is June 22 bull candlestick. Behind it are high trading volumes at 38k, spelling the entry of buyers. Even though participation is picking up, it would be ideal if any surge above critical resistance is at the back of high trading volumes preferably exceeding 38k.Chart courtesy of Trading View. Image Courtesy of Shutterstock

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Crypto Diverges: Bitcoin Dominance at 60%, Altcoins Face Major Capitulation Event

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The crypto market is an unusual one. The Wild West atmosphere, the volatility, and the 24/7, 365 trading provides little rhyme or reason, and often times Bitcoin and altcoins rise together, while other times they do not.At the start of the year, both Bitcoin and altcoins performed well relative to their bear market lows. Many altcoins doubled in value, until Bitcoin breached $4,200 and altcoins struggled to keep up ever since – bleeding out in their ratio relative to Bitcoin. The carnage continues, and as Bitcoin tests new 2019 highs, altcoins may be facing a major capitulation event if they fall any further than the bear market lows they had previously set.Bitcoin Dominance Hits 60%, Over 63% Could Spell Doom for AltsBitcoin’s rally continues. After breaching above the important FOMO trigger of $10,000, soon after, Bitcoin bested $11,000 and just recent made its first test of strong resistance at $11,500.Related Reading | Bitcoin Returns 144,912% in 7 Years, Investors Always Wish They Bought MoreResistance from $11,500 through $12,000, with key areas around $11,700 offer the final nail in the coffin for the bear market. Analysts claim once this level is taken, the bull market will truly begin.$BTCUSD – Testing Monthly resistance which comes in at 11,650-850 zone if we can clear that a quick move to 14K+ very possible. #crypto @BitcoinLive1 #bitcoin 🚀 pic.twitter.com/FLWRVxezXh— CtheLightTrading (@canuck2usa) June 25, 2019 With so little resistance above this area, Bitcoin should – as one-half of the Winklevoss twins has pointed out – push right to $15,000 soon.Bitcoin dominance– I expect some altcoin bounces around 63.5%
– If we break above this weekly (63.5%) – alts = 💀
Don’t rush to buy shitcoins, move slow and even better – don’t move at all (yet). pic.twitter.com/1Jjc7NGcH9— Mac ❄️🐺 (@MacnBTC) June 25, 2019
Alongside Bitcoin price, BTC dominance is also rising. Dominance is now breached 60%, and is quickly trending higher. Crypto analysts say that 63.5% represents an area at which a bounce for alts might be expected – or signal certain doom if Bitcoin continues to suck all the value out of the market.Crypto Analyst: Altcoins Could Face Major Capitulation EventThe allure of alt season may soon be nothing more than a pipe dream designed to be shilled to the masses while further value was extracted from their already heavy altcoins bags. Altcoins – except for a few rare exceptions – have struggled to regain ground lost during the bear market relative to Bitcoin.Related Reading | Bull Market Imminent? Why Investors are Stacking Ethereum, XRP, and LitecoinCompared to Bitcoin which has reclaimed 75% of its all-time high, most altcoins are still down from where they were 16 months ago at the start of the bear market.Top 10 … 16 months later..Bitcoin: $11,500 ( +35% )
Ethereum: $314 ( -69% )
Ripple: $0.47 ( -50% )
Bcash: $477 ( -63% )
Litecoin: $135 ( +4.6% )
EOS: $7.20 ( -25% )
Cardano: $0.095 ( -75% )
Stellar: $0.127 ( -67% )
NEO: $18.06 ( -85% )
IOTA: $0.45 ( -75% )#bitcoin https://t.co/SAJQpEgiPU
— A v B (@ArminVanBitcoin) June 25, 2019
#2 and #3 crypo assets by market cap, Ethereum and Ripple, are “inches away” from new lows and ready to fall off a “cliff.” Analysts warn a major capitulation event may be ahead.$XRP inches away from new yearly lows, $ETH flirting with a down-cliff. $ALTS have been under performing $BTC for a while, and still look very weak to me. I do think a major capitulation is likely for them.— SalsaTekila (JUL) (@SalsaTekila) June 25, 2019
Even Litecoin, which has its halving a little more than a month away, has vastly underperformed Bitcoin as of late.#altcoins starting to look weak af again. They go down in sats when #Bitcoin goes up, they go down more and in USD when $btc goes down. This is Fall 2017 all over again. #litecoin is a disaster the last few weeks…— Shardi B (@ShardiB2) June 25, 2019
Altcoins face additional suffering if they cannot recapture ratio they lost against Bitcoin in the coming days, but it is showing no signs of stopping and is simply absorbing all of the value out of alts as well as all new money coming in.

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Who Are ICON P-Reps and Should You Become One?

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Delegated Proof-of-Stake (DPoS) platforms are becoming the new norm in the cryptocurrency space, steadily pushing out their Proof-of-Work (PoW) predecessors.The reasons for that are quite evident. First, DPoS appears to be much more sustainable as a model: instead of relying on the loud, energy-consuming process of mining, it utilizes an algorithm that involves validators — network participants — and their “stake”.This is how it works: validators put down a deposit in the form of cryptocurrency (stake). In return, they get the ability to add blocks to the blockchain and get rewarded for that by collecting transaction fees. As a result, instead of urging hundreds of machines to compete for the fastest block, each PoS computer works on one problem at a time.Secondly, DPoS models actively engage with the community through incentivization programs, promoting the idea of inclusion and decentralization. Now, imagine a model that takes it a step further and evaluates one’s contribution to the network based on several factors, instead of simply evaluating their stake. It’s called Delegated Proof-of-Consensus (DPoC), and basically, it ensures that everyone gets a slice of the profit.Enter ICON, a DPoC blockchain network designed to interconnect independent chains and their communities. Put simply, ICON is a blockchain of blockchains. It bides different ledgers of enterprises and organizations from various industries (think healthcare, education, etc.) along with their unique governance systems.P-Reps: The Pillars of the ICON NetworkAt the core of ICON is a programme called ICONSENSUS, which aims to establish the consensus between ICX coin holders to achieve full decentralization of the ICON Network. It is a “journey toward mass adoption of blockchain”, as ICON creators put it.ICONSENSUS is comprised of four milestones. This article will focus on the first one: the election of the so-called “P-Reps”, or Public Representatives.P-Reps operate as full nodes and form the basis of a sustainable and secure network. They get to produce blocks and verify transactions on the ICON Network, but actually, their role is even larger than that — acting as the main delegates of the decentralized governance system, P-Reps are responsible for controlling, protecting, and enhancing the ICON Network.Initially, there will be 100 P-Reps, the top-22 of which will be elected as main P-Reps, although that number might be adjusted in the future. Unlike regular delegates, main P-Reps will not only earn representative rewards (based on the number of votes received during the election) but will also benefit from block production and verification.Why Would One Want to Become a P-Rep?Successful P-Reps candidates will get to enjoy the lucrative side of this incentive program, as well as casual ICX holders. According to ICON community, delegates might have to spend less than $2,500 per month on the server, and another $10,000 in HR costs to hire around 3 part-time members who would do the maintenance.Once annual representative awards are collected by P-Reps, their production costs could be more than compensated: according to one of the ICON papers, that source of income could bring as much as 720,000 ICX per year (around $262,500 as of June), although the exact amount is not certain until representatives are elected and all variables are decided upon.Further, regardless of the profit, P-Reps are provided with opportunities to become influencers and leaders in the ICON community, which boasts more than 300,000 members. That, in turn, puts P-Reps ahead in the wider blockchain space: they act as supporters of a strong project that is affiliated with the government of South Korea, among other stakeholders, discovering new business opportunities along the way.Additionally, unlike TRON and EOS, which employ somewhat similar models, the ICON network suggests benefits for both sides: P-Reps choose their own perks which then are reviewed by ICX holders during the election stage, while the voters are also rewarded: first, they are given I-Score tokens as a reward for delegating their stake, receiving 1000 I-Score for each ICX token they delegate. Then, P-Reps will be giving out rewards to ICONists who choose to delegate stakes to them.Nevertheless, with power comes responsibility: an eminent P-Rep should understand the niceties of the ICON ecosystem, and regularly contribute to the network.How Does One Become Elected?The process is notably democratic — there are no minimum requirements to register as a P-Rep. All you’ll need is a server (ICON Foundation has posted some minimum and recommended specs).The election process has already been kicked off with the pre-registration phase, which began in February and will continue until September 2019.To preregister, P-Reps are asked to write about themselves, specify their server’s technical specifications, and describe their proposal to strengthen the ICON network.Though the process is optional, pre-registered candidates are eligible to receive technical and marketing assistance from the ICON Foundation and ICON community prior to the main election leg. As of press time, 33 P-Reps candidates from 17 countries have been preregistered.In September, the actual registration and the election will be launched on the ICON blockchain. ICX holders will then vote for candidates by delegating their stake. The first 22 candidates to have delegated to them at least 0.2% of the total ICX supply will be elected as P-Reps.Once the 22nd P-Rep has been selected, the election will be over, and the delegates will hold the Genesis P-Rep Summit, marking the official birth of this decentralization network.Decentralized FutureIn sum, the election of P-Reps will push ICONSENSUS further along the road to its primary goal — full decentralization, an achievement the crypto space has been longing for. Other milestones will include voting on ‘Community Representatives’ (C-Rep), who will streamline communication between ICON and other blockchain networks, ‘Ecosystem Expansion Projects’ (EEP), proposed for overall network growth, and ‘DApp Booster Programs’ (DBP), which will facilitate the development of decentralized applications on the ICON network.Given the community’s excitement, supported by the continuously expanding pool of candidates from all over the world, it seems that ICON should be on the right path. About the Author: Osher Deri is a blockchain geek and crypto advisor.
Osher holds an MBA in innovation and technology, speaks finance as a second language
and believes smart contracts have the potential to disrupt the world as we know it.
 

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Bitcoin up 250% From Bottom, Same Again to $40,000 BTC

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A big bullish weekend is usually followed by a red Monday for bitcoin and crypto markets but this has yet to materialize. BTC has continued to climb and is now back at its 2019 and fifteen month high again. Further gains are likely and if Bitcoin can repeat is previous six month’s performance big things are in store.Bitcoin Back Above $11,000Bitcoin has made it back to its yearly high point of $11,200 during Asian trading today. It is the third time since breaking the five figure barrier that BTC has hit this resistance point so a move above it could be on the cards. Yet again a predicted pullback has failed to materialize as BTC defies the correction calls.A marginal dip back to $10,800 did happen yesterday but the general trend over the past 24 hours has been steadily climbing. Daily volume has dropped below $20 billion, but only just. The king of crypto is up an impressive 20 percent since this time last week.That sounds good but an even more impressive figure is the 250 percent BTC has made since its low in mid-December. From a bottom of $3,200 Bitcoin has climbed to a top of $11,250 in just six months. A repeat of this performance with a further 250 percent from today’s prices will put BTC very close to $40k. Trader and investors Josh Rager thinks it could be even more:“Solid point here. Now $BTC has topped this weekend at 259% increase since the bottom. Another 259% from this point would lead Bitcoin to $40k”Solid point hereNow $BTC has topped this weekend at 259% increase since the bottomAnother 259% from this point would lead Bitcoin to $40k https://t.co/rpJhU3e3mw— Josh Rager 📈 (@Josh_Rager) June 24, 2019
Can BTC Rip to $13,500?A few hours ago Rager added that a break of resistance at $11,500, which is only $300 away now, may cause BTC to surge all the way to $13,500. There is very little resistance in-between on the weekly chart and the 0.618 Fib retracement level also lies here.“$BTC break and close above $11,500 could likely lead price to rip up to $13,500+. Large gap in volume profile and no major resistance above. I’ll putting in a confident buy/long (with a stop) for a possible opportunity for a $2k move.”$BTC break and close above $11,500 could likely lead price to rip up to $13,500+Large gap in volume profile and no major resistance aboveI’ll putting in a confident buy/long (with a stop) for a possible opportunity for a $2k move pic.twitter.com/5cWV2j0jS9— Josh Rager 📈 (@Josh_Rager) June 24, 2019
Bitcoin’s recent retest above $11k has lifted total crypto market capitalization to $333 billion. BTC now commands almost 60 percent of the entire market and is showing no signs of abating. Great news for the Bitcoin maximalists, but not so pretty for those holding altcoins.Gains are still very marginal for most of them and many are still down over 80 percent from their peaks. Bitcoin is still commanding things in crypto land this week.Image from Shutterstock

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With A $20 Million Tron (TRX) BuyBack Plan, Bulls Are Vibrant

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Tron (TRX) up 14.7 percent, may flip XLMA $20 million TRX buyback could stir controversyBuying back coins or tokens is a great way of supporting prices. Tron could do that. With a stellar dApp ecosystem, TRX investors shall benefit. At the time of press, the coin is 14.7 percent higher from last week’s close.Tron Price AnalysisFundamentalsGiven the substantial rise of Bitcoin (BTC), altcoins are following suit. Of the many coins that could secure a spot in the top 10, TRX is one. Registering a double-digit expansion in the last week, TRX is one of the top performers.Behind the resurgence are bullish developments that could form the base of another wave lifting prices towards 10 cents or higher. Boasting a market cap of $2,567 million and changing hands at 3.8 cents at the time of press, TRX bulls are in the driving seat.From candlestick arrangements and significant events, odds are TRX will likely print a new 2019 high by the close of the year. Behind this optimism is the unconfirmed plans of a $20 million TRX buyback plan.🚨 Breaking 🚨Bittorrent speed beta will launch this weekTron summit 2020 will be held in Seoul South KoreaTron will begin a buyback of TRX#Tron #Trx #TronSociety #TronBlocks #BitTorrent— Dave [Tron-Society] (@redpillblue1) June 25, 2019
Although controversial, moping supply creates room for demand. Therefore, as buyers scramble for the few coins in circulation, the price of the asset digital asset will readjust upwards, rewarding holders.However, the question now is whether this announcement categorizes the currency as a security. Earlier this year, unsubstantiated rumor had it that the US SEC would bar their citizens from investing.Deemed as “unregulated security,” the ramification would be dire for TRX should the agency follow through with their threats.Candlestick ArrangementsTron TRXAs aforementioned, the phenomenal rise of BTC is a trigger of altcoins. The altcoin season may be on. From candlestick arrangement in the daily chart, resistance is at the 4 cents mark. It is capping May 2019 procession while doubling as the first target of previous TRX/USD trade plans.Since prices are firm above 3.1 cents at the back of high trading volumes, there are two ways of trading this set up. Firstly, aggressive traders can buy the dips with stops at 3.1 cents. Alternatively, conservative traders can wait for better signals. That means any close above 4 cents ought to be with high participation completing the reversal of June 3rd double bar bear reversal pattern. Such a move would effectively reverse losses of June 3rd, re-affirming this overview.Technical IndicatorsIn light of the above, June 22nd bull candlestick leads this trade plan. It is extensive and propelling bulls are high trading volumes of 16 million. However, any break out above 4 cents confirming buyers ought to register an uptick in participation preferably exceeding 28 million of June 3rd.Chart courtesy of Trading View. Image Courtesy of Shutterstock

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