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Cointelegraph launches Markets Pro crypto intelligence platform, powered by The TIE

Markets Pro goes live as beta test returns comprehensively outpace the crypto market.

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Cointelegraph Markets Pro, a data platform designed to level the playing field for cryptocurrency market participants, is now available to the public following a successful live testing period.

The platform, which has been in development for a year, is the result of exhaustive analysis of the crypto markets and the key drivers of asset price movements. It was developed jointly by Cointelegraph and The TIE, a leading provider of crypto data, analytics and software that counts major hedge funds, market makers and over-the-counter desks among its clients.

Testing the VORTECS Score

At the heart of the platform is the VORTECS Score, which compares current market conditions for over 130 crypto assets to historically similar marketscapes. A proprietary algorithm analyzes those historic conditions, seeking consistent patterns in market behavior in the following days.

“Even if crypto markets may seem volatile, the volatility often demonstrates remarkable consistency,” said Cointelegraph CEO Jay Cassano. “While we’re all aware that past performance is not indicative of future results, the Markets Pro platform combines sentiment analysis and social media activity with real-time market conditions in a way that allows us to create very specific models.”

“History doesn’t predict, but it can be deeply informative.”

VORTECS beta testing delivered compelling results, according to Joshua Frank, CEO of The TIE.

“We tested every score that crossed a certain threshold in our live beta phase,” explained Frank. “When the VORTECS score for a particular crypto asset crossed 70, we saw an average price increase of 7.61% over the next 24 hours, and 25.9% over the next seven days.”

Frank noted that when scores that crossed the 80 threshold, asset gains were 8.58% over the next 24 hours — and 28.2% over the following week.

“Of course, since most crypto traders are rotating into other assets such as Bitcoin, the real measure of success during a bull market is whether or not assets that crossed these thresholds delivered gains against the entire crypto market,” continued Frank.

“And in fact, that’s exactly what happened — over the course of a week, 70-scored assets gained an average of 21.3% vs. the universe of coins, rising to 23.8% for assets that scored over 80.”Breaking NewsQuakes deliver headlines faster

Cointelegraph Markets Pro also features NewsQuakes, a comprehensive headline news aggregator believed to be the fastest in the cryptocurrency industry.

“We’ve been working with The TIE for a year to identify and isolate the most important price drivers in the news cycle,” explained Cointelegraph editor-in-chief Jon Rice.

“Token burns, exchange listings, partnerships and staking announcements are among the headlines that tend to move markets. The Markets Pro platform uses AI to sift through the thousands of sources we analyze every minute, delivering key insights into these events directly to Markets Pro subscribers — often within seconds.”

Rice suggested that when a cryptocurrency asset is listed on Coinbase, for example, it often sees rapid and significant price appreciation. “These announcements can deliver swift returns to traders who pick up on them quickly,” he said.

“For instance, our NewsQuake system delivered the news of the Filecoin listing in December within a minute of the announcement — and almost 60 seconds before the Coinbase team tweeted. That window matters to traders.”

Rice also noted that for many foreign exchanges, the time between an announcement in the exchange’s native language and an English version can be far greater, but that the NewsQuake service supports multiple languages and translates them in real time.

Market intelligence for everyone

Markets Pro subscribers also gain access to community features. Managed by teams from both Cointelegraph and The TIE, members can join the discussion with fellow enthusiasts, share strategies and ideas, and access unique research from the experts.

Cassano hopes that the combination of real-time news and algorithmic modeling makes the crypto markets more accessible to investors of all stripes. “We’ve witnessed a global surge in interest in cryptocurrencies, as well as a realization that the information asymmetries inherent in existing financial markets tend to be stacked against the average investor. I hope that Markets Pro can help level that playing field in the crypto industry.”

Frank echoed the sentiment, expressing that “When we initially set out to build The TIE more than three years ago, we had one singular goal: to enable millions of everyday investors around the globe to make more informed decisions with trusted and transparent cryptocurrency data. The challenge was synthesizing the billions of data points we captured, and sharing intelligence that is actionable and insightful for everyone.”

cointelegraph markets pro is available here

“We tested every score that crossed a certain threshold in our live beta phase,” explained Frank. “When the VORTECS score for a particular crypto asset crossed 70, we saw an average price increase of 7.61% over the next 24 hours, and 25.9% over the next seven days.”

Source: https://cointelegraph.com/news/cointelegraph-launches-markets-pro-crypto-intelligence-platform-powered-by-the-tie

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Cointelegraph

Elon Musk unfazed by rumored possibility of SEC probe into Dogecoin tweets

Meming about meme cryptocurrencies going to the moon may have legal consequences for the CEO of Tesla, but he’s taking it in good humor.

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The Tesla CEO avowedly loves “dogs and memes” and is greeting the alleged possibility of federal scrutiny of his Dogecoin tweets with a consistently droll attitude.

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Elon Musk unfazed by rumored possibility of SEC probe into Dogecoin tweets

Rumors of a possible investigation by the United States Securities and Exchange Commission into Tesla CEO Elon Musk’s alleged impact on Dogecoin’s price moves have been circulating on social media over the past day — a phenomenon that one Twitterer has quipped is “peak 2021.”

I hope they do! It would be awesome

— Elon Musk (@elonmusk) February 25, 2021

Musk’s previous show-downs with the SEC notwithstanding, the CEO appears to be nonplussed about the possibility of an all-too-real legal fallout sparked by his penchant for the meme cryptocurrency. Musk’s professed love for “dogs & memes” has spurred him to repeatedly post jocular memes about Dogecoin (DOGE), most recently one showing the Doge mascot “on the actual moon.”

Literally pic.twitter.com/XBAUqiVsPH

— Elon Musk (@elonmusk) February 24, 2021

While the reference apes trader lingo for stratospheric price action and could therefore be construed as some form of endorsement, Musk has publicly said that for all his love of the meme cryptocurrency, he is a partisan of Bitcoin (BTC) when it comes to strategic personal and corporate investment. That hasn’t stopped the CEO’s twittering, however tongue-in-cheek, from providing some serious fuel for memecoin market volatility — Dogecoin Christmas 2020 being just one instance.

Musk’s apparently all-too-real impact on the price moves of both cryptocurrencies, given his enormous social media following, makes disentangling meme fun from celebrity shilling almost impossible. Legal advisors have previously voiced their opinion that the CEO could already be in for scrutiny from the SEC after his documented influence on Bitcoin’s price moves this year.

Both the prospect of an SEC investigation and the prospect of Doge’s metamorphosis into “a real currency,” remain, for now, parallel meme-like and humorous eventualities in the CEO’s imagination. Musk’s previous SEC battles back in 2018 may have had real ramifications for the CEO, resulting in his removal as chairman of the Tesla board and the payment of financial penalties, but he seems unlikely to give up on his Twitter kicks just yet.

Source: https://cointelegraph.com/news/elon-musk-unfazed-by-rumored-possibility-of-sec-probe-into-dogecoin-tweets

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Crypto leaders back MIT’s four-year initiative to harden Bitcoin’s security

MIT’s ‘Bitcoin Software and Security Effort’ will support research and development to enhance the security of the Bitcoin network.

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Crypto industry captains are throwing their support behind a long-term project from MIT’s Digital Currency Initiative to enhance Bitcoin’s security.

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Crypto leaders back MIT’s four-year initiative to harden Bitcoin’s security

The Massachusetts Institute of Technology’s Digital Currency Initiative has revealed a new “Bitcoin Software and Security Effort” intended to foster research into bolstering the Bitcoin network’s defenses.

The open-source initiative has received support from a diverse group of crypto industry leaders, including Gemini’s Cameron and Tyler Winklevoss, MicroStrategy’s CEO Michael Saylor, Square CEO Jack Dorsey, and major European digital asset manager, CoinShares.

In a blog post unveiling the project, DCI said that Bitcoin’s ascent from an “obscure cryptographic toy” to a robust network that “secures on the order of $1 [trillion] of value” was due to the millions of hours invested into building the project by open-source developers.

Coinshares announced a $500,000 donation to the project and chief executive Jean-Marie Mognetti hinted that perhaps other crypto companies should do likewise:

“As a beneficiary of the work of hundreds of developers who secure, upgrade, and maintain the open-source protocols that underlie the Bitcoin network and the applications built on top of it, we believe for-profit firms in the digital asset industry have an obligation to fund independent, neutral development efforts and research that advances the mutual interest of all ecosystem participants.”

The DCI’s four-year research and development program aims to “harden the Bitcoin network and steward the industry’s commitment to funding open-source software.”

The blog post noted that, “The objective of DCI’s new program is to contribute neutral, expert resources to improving the robustness of the Bitcoin protocol. Bitcoin’s security is foundational to the underlying technology’s continued evolution, as well as the broad realization of the public-good promises of digital currencies.”

The post listed several key issues that MIT is exploring, including sustaining a senior team of Bitcoin developers, exploring new programming languages, and pre-emptive investigations against possible attacks,

MIT also stressed the need for the network’s security to grow and strengthen alongside increasing adoption, noting the challenge associated with coordinating a decentralized network:

“Unlike traditional assets, Bitcoin is software running on a decentralized network. Bitcoin’s security is predicated on the accuracy and robustness of the software and hardware running it, and the actions of those participating in the network.”

In July 2020, DCI researcher James Lovejoy warned that attempted 51% attacks — attempts to capture a majority share of nodes and thus control over the Bitcoin network — may be more plausible than previously thought.

Lovejoy stressed the need for active blockchain monitoring in order to identify 51% attacks targeting proof-of-work blockchains, stating: “You need an active observer to be monitoring the network to check whether or not an attack occurs.”

“Up until now we’ve been reliant on victims to tell us about whether they’ve been attacked. As you can imagine, if this results in insolvency or a loss of user funds, victims are often not super interested in revealing when an attack has taken place,” he added.

Source: https://cointelegraph.com/news/crypto-leaders-back-mit-s-four-year-initiative-to-harden-bitcoin-s-security

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Blockchain tech will bridge the gap between DApps and enterprises

A cross-chain data oracle can be used to seamlessly create custom oracle scripts for traditional enterprises to connect them to blockchain-based applications.

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Blockchain technology is revolutionizing the way we interact, transact and share information, with many experts predicting it will be the most disruptive technology in the next decade. After little structural innovation since the 19th and 20th centuries, decentralization has brought industries such as finance, media and technology closer to transparency, freedom from intermediaries and heightened efficiency.

Traditional enterprises rely on a centralized closed-door structure. In contrast, decentralized finance projects are being built with the ethos that governance should be decentralized and democratic. Transitioning society to decentralized platforms can make many services safer, more accessible and more transparent than ever before. The increasing interest in the space speaks to a collective desire to have more control over critical elements of our lives, especially our finances.

While decentralization helps to solve issues like transparency and efficiency, the lack of a trusted central authority means that decentralized applications, or DApps, must rely on third parties to supply data to execute transactions or application functionalities such as taking out a loan. Access to reliable, trusted information such as price feeds, real-world events and identification, among many others, underpins the reliability, strength and efficiency of a decentralized application.

The security to protect this data comes from an oracle solution that is able to reliably and effectively connect real-world and off-chain information with decentralized applications and smart contracts in a verifiable, manipulation-resistant manner. With more than 1 million regular users of DApps globally, there is a huge demand for reliable data external to the blockchain because it underpins the security of DeFi applications and the billions currently locked in the space.

Following hacks, attacks and data manipulation, the challenge facing blockchain technology is creating trust and building secure systems in the absence of established enterprises or government regulations. This is where new technologies like data oracles are essential to create a secure link between traditional companies with reliable price feeds and the decentralized ecosystem.

Connecting the old and the new

Data oracles act as the bridge between decentralized blockchain applications by aggregating and connecting real-world data to smart contracts. These decentralized applications then use smart contracts that self-execute when certain criteria are met, such as liquidating collateral, which requires a price oracle. In the absence of a centralized authority, data oracles are essential to connect blockchain-based applications with the information required to execute these smart contracts.

The use cases for smart contracts and oracle technology are extensive and span across insurance, real estate, healthcare and, most importantly, the DeFi space, where a security breach could put millions at stake.

In DeFi, instances of hacks are plentiful. Data oracles are the input to the logics of smart contracts and therefore dictate their behavior: the output. If the data oracle input is incorrect, this leads to unintended behavior from the smart contract and can result in losses of funds or other undesired outcomes, as seen even in the strongest DeFi projects. These structural problems make widespread adoption of data oracles essential.

There is a desperate, critical need to connect Web 2.0 to Web 3.0, to create a more resilient, efficient, censorship-resistant internet. Traditional companies built on Web 2.0 are not yet structurally ready to make the transition into DeFi due to the learning curve, know-how and organizational flexibility required. These traditional enterprises will require seamless onboarding processes with a high level of flexibility and customizability to act as a bridge to Web 3.0.

This is where novel oracle technology will come in, providing the support and systems for enterprises to make the leap into Web 3.0 without the businesses themselves having to grapple with the process.

While DeFi has undeniably boomed over the past year, the space still requires broader adoption by the majority, who have no coding expertise, as it is this accessibility that will create a truly robust DeFi ecosystem.

Traditional enterprises also stand to benefit greatly from this transition, as their data is a valuable resource to decentralized applications and an innovative new revenue stream ripe for market capture as the industry continues rising.

Why we must incentivize traditional enterprises to the blockchain

Many decentralized applications require real-time information such as price feeds, sporting results, weather and news updates to function. Traditional enterprises that can supply reliable real-world data must take advantage of this growing demand by connecting with decentralized applications and commercializing this data through a reliable data oracle. Tech and media giants like Google and Bloomberg, for example, would benefit hugely from the use of a data oracle.

This is an exciting step for the industry, as when large enterprises dip their toes into DeFi, it adds extra security and legitimacy to the space. In turn, this transition will create an additional source of income for these established businesses in a new, thriving industry. Traditional enterprises have no choice but to enter the space or risk being left behind as the world continues to adopt DeFi, DApps and smart contracts.

Connecting directly with data sources is the best way for companies to ensure the security and integrity of their data — which simultaneously strengthens the overall security in the DeFi space and the entire decentralized ecosystem. Oracles play a very important role in this process and in building trust in the DeFi and wider blockchain industry.

The future is decentralized

We are already seeing many large enterprises incorporating decentralized technologies into their business models. It is up to the leaders in the DeFi space to engage and guide these traditional businesses for there to be significant change and evolution. It is imperative that the industry prioritizes usability, simplification and community education to experience the widespread adoption DeFi is gunning for. The future is decentralized, and there is so much room for the industry to grow — we are only at the beginning of the revolution.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Kevin Lu is the head of business development and growth at Band Protocol, a Sequoia-backed cross-chain data oracle platform. Previously, he was the creator and writer of Protocol Weekly/DeFi Weekly, a newsletter to showcase the progress of different Ethereum layer-two protocols and decentralized financial projects.

Source: https://cointelegraph.com/news/blockchain-tech-will-bridge-the-gap-between-dapps-and-enterprises

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