Connect with us
BitStarz

Cryptocurrency

What is Liracoin Smart Global Payment app?

Published

on

LIRACOIN

Liracoin Smart Global Payment (SGP) is a project started by the Liracoin cryptocurrency group, which focuses on the goal of creating a smartphone application to pay with cryptocurrencies. It seems not to be a regular exchange or a platform hosting cryptocurrency wallets, but a payment system that incorporates Bitcoin and altcoins.

We researched this through official communications from Liracoin, and through the blogs and forums talking about it. This is what we can tell you about the Liracoin SGP app.

– Liracoin SGP is an application that can be installed on your smartphone to pay in stores that have an NFC (near-field communications)-enabled payment system. Any store with an NFC-compatible PIN pad on their point-of-sale system can accept payments through the Liracoin Smart Global Payment app.

– The Liracoin Smart Global Payment app automatically converts the cryptocurrency of the user’s choice into the fiat currency of the merchant. What seems interesting is that Liracoin SGP eliminates the need for the receiving party to accept a specific cryptocurrency. The user can choose the cryptocurrency to pay with, including Liracoin, Bitcoin, and other altcoins, and the merchant will receive payment in the currency accepted by them. This allows very wide use.

– To exchange from a cryptocurrency to a traditional currency, there is normally a sale and transfer process, which can take time. With Liracoin SGP, this process happens instantly. This is revolutionary because it allows you not to have to convert the cryptocurrencies you hold back into fiat money until the moment you need to spend them. If cryptocurrencies are money, then let’s use them as such without always having to go back to the starting point.

Liracoin will earn income from this app by specifying that all transaction fees will be paid in Liracoin (LIC). This will result in a release of coins in the supply, increasing circulation and decreasing the available units, which will increase the value of the Liracoin cryptocurrency. We still need to know what the amount of the transaction fees of SGP app will be. 

This video shows how the beta version of Liracoin Smart Global Payment application works: https://youtu.be/26h-v5ZVgZU

The creation of this app is interesting news both for those who have profited from cryptocurrencies and now want to spend them with ease without having to resort to exchanges (especially limiting on large sums), and for those who want to use only cryptocurrencies as money.There is often talk of an economic revolution powered by blockchain technology. To make it happen, we must move beyond what has been our money up until now. If Liracoin SGP is a way to make this move possible, we will find out in 2020, when it is released. Many people are eagerly awaiting it.

Advertisement BitStarz
0

Cryptocurrency

Tron (TRX) Finds its Way Back to the Top Ten List

Published

on

Tron CEO Justin Sun, known for his flair for publicity and announcement of any achievement on his network announced in a tweet that Tron has made its way back to the list of top ten performing cryptos. TRX’s performance has been outstanding since the second quarter of 2019 both in its level of development and features.

According to the Coinmarketcap.com index at the time of writing, the trend curve shows Tron is moving higher than most other coins including Bitcoin (BTC) and Ethereum (ETH). It currently trades at $0.039 increasing at 6.18% in 24 hours at a market cap of $2.6 billion.

A few days ago, Tron (TRX) had a new surge in price which saw it to the $0.04 trading price. This new rate has been retained seeing the digital asset performing higher than most other cryptos.

Looking at the recent happenings that have created a boost in Tron (TRX) performance; it can be easily seen that though the network has recorded few partnerships with other companies, more of what pushes up its performance is the volume of activities on the platform.

A report from Dapp.com states that Tron is the most ambitious project in the Dapp field. In the second quarter of the year, it has been able to launch $2 million projects more than other blockchain protocols in upgrading its Dapp ecosystem.

A review of TRX performance reveals that in a space of four months, the transaction volume increased from less than 130,000 transactions to  2 million transactions.

Investors may still not be so willing to stake much on this digital asset even with every sign of high returns, because the trend in activity can change any time.

Continue Reading

Cryptocurrency

World’s Largest Interdealer Broker to Offer Crypto Derivatives

Published

on

Why Bitcoin Is Better Than Other Cryptocurrencies

TP ICAP has entered the crypto market where it is to offer crypto derivatives, hoping to boost its dwindling core business which is in commodity, financial and energy markets. Last year, TP ICAP lost 36% of its market value in the wake of the financial crisis.

It has since salvaged about 10%. TP ICAP is set to be the intermediary between customers wanting to buy and sell Bitcoin futures, Bloomberg reports.

The firm’s new venture will be based in London and will be led by Simon Foster and Duncan Trenholme. This move is however not sudden as it might seem. Roughly a year ago, TP launched a working group tasked with examining the firm’s best approach to cryptocurrency.

Notably, a year later, they announce their approach to crypto to be trading of Bitcoin futures and they envision adding non-deliverable forwards (NDFs) tied to Bitcoin.

This is a sweet spot for the firm as it joins other big players such as Fidelity Investments, JP Morgan, and Intercontinental Exchange to engage in crypto derivatives trade. These firms’ decision to engage in Bitcoin, derivatives trade is unlike their clients’ who prefer to not trade in cryptocurrencies that are still recovering from the infamous yearlong slump.

Bakkt, a much-anticipated crypto trading platform known for its multiple delayed times is set to launch its own physically settled Bitcoin futures trading testing on July 22. Additionally, Nasdaq is set to launch its own crypto futures platform during the course of this year.

“Every institution is on an educational journey,” said Trenholme, who is co-leading TP ICAP’s new venture. “Many are exploring how tokens can legitimately be traded or stored and I’d expect more projects to hit the market over the next year or two.”

TP ICAP is also exploring other digital asset offerings. The firm is thinking about participating in the actual cryptocurrency market. “We want to be close to what’s happening within this nascent asset class because we believe it’s important to invest in the early stages of a growing market,” said Simon Foster.

“TP ICAP also understands that this technology could disrupt or impact other asset classes where we currently operate, so we feel it’s important to be informed.”

This venture will entail cash-settled futures contracts trading on a regulated market which will be managed by CME Group to avoid potential risks of fraud and market manipulation. Their clients will also have to undergo rigorous anti-money laundering and identity checks.

Continue Reading

Trending