Category: Trading

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Lithuania is looking to regulate Token Generating Events

Categories ICOs, Law, Technology, Trading, Cryptocurrency Exchange, Bitcoin, Regulation

Lithuania is looking to regulate Token Generating Events

Last October Lithuanian authorities were invited to attend a seminar that was seeking to examine the threats and potential benefits of the ICO sector, particularly with regards to the country’s economy. Whilst reports from BitMEX last week found that ICOs had so far managed to break even in terms of profit and loss in 2018, trends have shown a bit of a slump in the popularity of the market. Alongside the falling value of Ether and Bitcoin, it seems that fewer ICO projects were launched in 2018 when compared to the first half of the year.

All things considered, it does seem that it is good news and a positive sign that the market managed to break even, despite poor conditions.

Fraught with bad press

This does not mean that ICOs are not without their lack of other issues. Their issuance is fraught with lack of regulation and bad press, and research conducted at the beginning of the year found that almost 80% of ICO projects that were launched in 2017 could be classified as “scams”.

As a result, Lithuanian authorities have come together to voice their concerns over the ICO market, something that is becoming commonplace in a number of jurisdictions. Politicians in the country, as well as a representative from the central bank, came to the conclusion that cryptocurrency and digital assets have created a substantial market in the country that yields a huge turnover.

“Virtual currency has huge cash flows, but (there are) worries about converting them into dollars and euros as quickly as possible, (and) leaving virtual currencies as quickly as possible.”

Creation of a regulatory body

Whilst there is a concern over the cryptocurrency cash flow and the lawless style of the ICO market, Lithuania has vowed to create its own regulatory body that will oversee the developing industry. The newly created body will be responsible for supervision and enforcement, but it will also be on the lookout for possible benefits that could emerge from blockchain and crypto.

This development will see the country follow in the footsteps of Malta which introduced its own blockchain, cryptocurrency and ICO legislation on the 1st of November 2018. To find out more about launching an ICO in Malta, please contact E&S Group by sending us an email on [email protected].

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ICO numbers significantly fell during Q3

Categories ICOs, Malta, Technology, Trading, Cryptocurrency Exchange, Statistics

ICO numbers significantly fell during Q3

Market analysis by a leading cryptocurrency organisation has yielded the expected result that ICO numbers significantly fell during the third quarter of 2018.

A report published by CoinGecko shows that the number of Initial Coin Offerings in the third quarter of the year did not match, or exceed the announced projects or funds raised in Q1 or Q2.

During the second quarter, 606 projects were announced and 267 succeeded, raising a total of $7.73 billion. In contrast, the number of projects launched in Q3 was just 388 with 193 successful bids, raising a total of $1.59 billion. It is worth noting however that EOS ran a year-long project and gathered $4 billion, meaning that some of the funds gathered, would have gone to that project.

The report also mentions that out of 34 projects registered in the last quarter, nearly all were then registered on a cryptocurrency exchange, but only seven were able to find a trading value that exceeded the money the fund had raised.

The report shows that for every $100 that an investor held in tokens for these 34 projects, the market valuation would be $740. Additionally, most of these projects were based in Singapore or Malta and the UK. In fact, the UK is showing high numbers of in-country based projects.

This comes at the end of a year that saw the value of Bitcoin drop 78%, EOS – 25% and Ether – 30% signalling, as many believe a maturing of the market with values that reflect better long-term growth rates.

When it comes to ICOs, it is hoped that their popularity will pick up in the last quarter of 2018 due to countries such as Malta enacting a legal framework to legitimise the industry. Such moves are expected to instil confidence in investors and encourage the development of new projects, in a safer environment.

To find out more about Malta’s newly enacted cryptocurrency, blockchain, and ICO related legislation, or to discuss setting up an ICO with Malta as a base, contact E&S Group on [email protected]. We make things happen!

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TRON burns over half a billion tokens and moves to Malta!

Categories Blockchain, Cryptocurrency, Malta, Technology, Trading, Ethereum, Exchanges, DLT, Projects, TRON

TRON burns over half a billion tokens and moves to Malta!

At the last week of August TRON gained a good momentum obtaining almost half a billion of its old tokens that ran on the Ethereum network. They also celebrated their new wallet being launched on the iOS Apple Store.

TRX has built a name for itself as one of the most well-known cryptocurrencies and due to its success, it finally left the Ethereum network and set out on its own. To celebrate its disconnection from Ethereum, TRON has burnt four rounds of old, obsolete tokens as they have been replaced with tokens that are compliant with the new blockchain.

This latest round of burning was done at the same time that the TronWallet was launched in the iOS Apple Store after considerable work to gain the Apple seal of approval.

During the month of August, developments have been a nail-biter with the App Store issues and multiple bugs creeping up as a part of normal development of a feature that is almost entirely rewriting the foundations of the app. But with the help of the always helpful, strong Brazilian coffee and hard work, TRON team pulled through and they are ready to complete their most ambitious release yet.

Some of the features of the new app include:

  • Fully decentralised P2P wallet with no login or signup required
  • Local secret encryption and PIN
  • All Tron network operations supported except ‘create tokens’
  • Create multiple accounts and store contacts in one address book
  • Push notifications once transactions are processed
  • Open source privacy with private keys belonging to  the user only

The programme is backed by Tron’s accelerator as well as being developed by Getty/IO Inc; a front-end development firm that specialises in AWS, blockchain, and Javascript.

Recently, TRON shifted their operations to Malta, joining other established corporations also dealing with blockchain and cryptocurrencies. Due to Malta’s positive stance on the DLT sector, Malta will surely embark its sails to welcome all companies to set up shop on the island.

E&S Group is a leading corporate & law firm offering various services with regards to ICOs. Feel free to contact us directly on +356 20103020 or by email at [email protected] to find out how E&S can help you in ‘making things happen’.

For more information click the link.

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Why our world needs tokenomics?

Categories Economy, Blockchain, Cryptocurrency, Regulatory, ICOs, Technology, Trading, Tokenomics, Tokens, Market, Market Cap, Cryptoeconomics

Why our world needs tokenomics?

There is no doubt that blockchain technology is going to pay a pretty big part in our future. Blockchain has the capacity to unlock a previously untapped economy of trust and it also has the potential to completely revolutionise many sectors from finance to healthcare and everything in between. But before it can reach its full potential, there is one extremely important thing missing: an established and well thought out theory of tokenomics.

Moving forward with blockchain technology and its implementation will require a significant increase in the advancement of tokenomics analysis. We are currently in the midst of a truly unchartered territory – governments and regulatory authorities don’t have a clue what is happening and even those involved directly in the industry are lacking clarity and certainty. Whilst the concept of tokenomics has been around for centuries, there is not much knowledge on artificial economies such as the of crypto world. One way that token economies can be analysed more closely is through the use of agent-based modelling, but there is still a lot of work to do.

Why study token economics?

Firstly, because tokenomics is extremely important. With the advent of blockchain technology, we are seeing more and more startups move towards using market business models. These models facilitate the incentivisation of users to make them more proactive in their day to day life. For example, a government could incentivise users to pay their taxes over the blockchain network. A retail company could offer discounts if clients use the blockchain to make their payments. Knowing and understanding how best to create and promote rewards through a particular economy requires a proper understanding of tokenomics models.

Also, token economies can also fall foul of all the problems that traditional economies have. For example, inflation, volatility, and crashes are all issues that can affect the long-term viability of a blockchain based business. Token economies do make it possible, however, to automatically collect data on transactions which can then be used to calculate metrics such as the total traded volume or the velocity. The tokenomics research community has a lot of work to do when it comes to being able to utilize the unique opportunities that are offered by the blockchain. By doing this they will be able to better understand how to solve some of the presented challenges.

The issue of token pricing

Some of the other issues that are at the forefront of the challenges faced by the sector include understanding token pricing. There is no definitive answer on how tokens should be priced, or how many should be issued. There is also much work needed when it comes to the equation of exchange that is used to help derive valuations for cryptocurrencies, some of which can be used to provide a better understanding of token pricing for ICOs. The problem is that at the moment, there is no proper model around this topic and until there is, the sector will struggle to find its feet.

Long-term viability

Many ICOs that have been launched made use of a model where tokens are disposed of as they are used up. This means that as the number of tokens decreases, supply becomes limited and the price goes up. Whilst this is attractive to investors and speculators, it doesn’t give much information or hope for the long-term viability of the token.

Controlling speculation

Unfounded speculation has caused untold amounts of damage to the crypto-economy, but it can also be one of the driving force behind the popularity surge of cryptocurrencies. Speculating and trading are not bad things per se, rather it is when they get out of control and result in market crashes similar to the one that we saw in January. Control needs to be exerted so that speculation is allowed, but does not wield power that can see a market decimated in days.

The economics of the future

Blockchain is not going anywhere anytime soon and it is becoming clearer that it is set to become an integral part of our lives. ICOs have raised an astonishing $6.5bn to date, but without a proper tokenomics model, many are sadly destined to fail. As ICOs mature, the same is required by tokenomics and understanding topics such as the ones mentioned above is an integral part of blockchains long-term success.

 

Are you looking for ICO Legal Advice? Click this link to know more.

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A Half Year Report on virtual currencies in 2018

Categories Blockchain, Cryptocurrency, Regulatory, ICOs, Malta, ICO Legal Service, Law, The Blockchain Island, DLT Regulation, Smart Contracts, E&S Group, Technology, Trading, Cryptocurrency Exchange, Tokenomics, Regulation, Tokens, Binance, Utility Tokens, Security Tokens, DLT

A Half Year Report on virtual currencies in 2018

2018 has been an interesting year for crypto with colossal crashes, much-needed market adjustments, and of course, the emergence of a large number of new tokens and cryptocurrencies. Along with significant advances in regulation and legal frameworks that seek to understand, support, and protect those stakeholders operating within this new industry, there is no doubt that the rest of 2018 is going to be just as, if not more exciting as the previous six months.

Mid-January Market Crash

If you were holding Bitcoin in December 2017, you probably couldn’t believe your luck. As the value of a single Bitcoin headed towards $20k, a mad rush to invest ensued and predictions on where the price may head reached stratospheric new heights. Then on January 16th 2018, Bitcoin investors woke up to a nasty shock. The value of their coins had dropped by 15% and this news had a knock-on effect on the value of all other altcoins, causing a huge slump in the value of the market. The excitement and hype that had surrounded cryptocurrencies just a few days before, disappeared just like the profits of those who invested in it.

As prices continued to fall, investors started to panic. They started selling their coins in an effort to nip their losses in the bud and the moniker “Black Tuesday” was coined. Some crypto-coins saw losses of up to 40% and it seemed like many naysayers predictions were coming true and that the bubble had finally burst. Some voices remained steadfastly optimistic however and maintained that price slumps were common in all markets, not just the crypto one. After such an exponential increase in value, it was naturally expected that the market would correct itself because after every meteoric rise comes to a reverse-swing of the pendulum that needs to be ridden out – January was exactly that. As prices are now more stable it is hoped that they will increase at a steady rate, signalling a new era of market stability and maturity.

TRON Makes a Name for Itself

Since January of this year, TRON has experienced a steady increase in value. Despite a few issues, mainly caused by the crypto price-crash, it seemed to have found its niche which suggests a bright future for both the platform and its cryptocurrency.

TRON is a decentralised, blockchain-based, protocol project that functions as a content distribution platform for the digital entertainment industry. Whilst the platform itself is yet to go live the TRX coin is gaining significant traction.

Created by Justin Sun in 2017, the concept behind it is to establish a global network of free entertainment content which allows creators to publish, store and distribute their own content without the need for an intermediary. Whilst its value per coin was only $0.30 in January, it is expected to hit $1 by the end of 2018.

Its main selling point is that it is not just another cryptocurrency. It has a platform that solves a problem and offers functionality to a range of users and publishers. Over the last year, TRON has increased in value by 1.39% making it one of the top crypto coins in terms of growth, making it one to keep your eye on as we progress through 2018.

The Unexpected Rise of Litecoin

Many have dismissed Litecoin as “the poor man’s Bitcoin” but despite this, its popularity has increased drastically over the past few months. It was initially launched via an open-source client on GitHub in 2011, a sort of spin-off of the original Bitcoin Core client, but it offered much lower block generation times, a higher number of coins, a modified GUI, and a different hashing algorithm.

In 2013 it experienced a big surge in value and by May 2017 it had secured a spot as one of the Top 5 global cryptocurrencies in terms of its market cap. Now accepted by a wide range of online retailers, its adoption is increasing and many are seeing it as a better alternative to the rather bloated and over-inflated Bitcoin.

12 and even 6 months ago, blockchain was not something that was widely understood but as we progress to the end of 2018, it is expected that we will see a dramatic uptake of blockchain integration across a diverse range of sectors. Following in the footsteps of IBM, Microsoft, and Maersk, even smaller SMEs are likely to be interested in harnessing its potential.

Litecoin is predicted to peak at a value of over $600 per coin by the end of 2018 and there is no doubt that it has huge potential. Negating many of the issues that are faced by Bitcoin users, it presents a practical, simplified and completely viable alternative to the crypto-giant.

Malta Takes the Lead in Industry Regulation

In the last 12 months, it has seen cryptocurrency, blockchain and ICOs negate a minefield of regulatory and legal issues. Problems around its classification, AML and KYC regulations, and the reluctance of many banking institutions to support the burgeoning technology has resulted in many setbacks for the crypto world but that is all set to change.

The island of Malta has long been a hub for digital technologies and it is well known for its iGaming, Finserv and Fintech industries that when combined, account for around half of the country`s GDP. Then, in March 2018 the Government announced the drafting of three new bills that would seek to provide legal and regulatory clarification on DLT, crypto, and ICOs. These bills are the Virtual Financial Assets Bill which would provide a regulatory framework for ICOs and virtual currencies, the Malta Digital Innovation Authority Bill and the Technology Arrangements and Services Bill which will oversee companies that operate within the market, as well as providing a much-needed guidance and clarification.

This makes Malta the first jurisdiction in the EU, and the world to create a comprehensive legal framework that not only protects all stakeholders including operators and investors, but also supports the growth and development of the industry. By ensuring explicit legal clarification as well as adherence to AML and KYC regulations. This means that the industry will receive a much-needed confidence boost and will help to increase the  level of public trust in this new market sector.

Binance Relocates to Malta

As a result of Malta’s decision to support cryptocurrencies and related industries, an exciting announcement came just a few days later. Binance is the largest cryptocurrency exchange in the world and commands 10% of the global trading volume as well as having a market capitalistion of $1.3billion at the time of writing. Its founder Changpeng Zhao started Binance in July 2017 and in just a couple of short months, it has grown to be the market leader.

Following the introduction of restrictive laws in Japan and China regarding cryptocurrencies and exchanges, Binance was on the look out for a more welcoming and flexible home. On March 23rd, Binance announced their move to Malta and the crypto community rejoiced. Such a vote of confidence is a big deal for the small EU country and it is expected that such a move will encourage many other companies and startups to follow suit.

The Blockchain Boom

This time last year, most people had heard of the blockchain but only in the context of it being intrinsically linked to Bitcoin. Now, the technology has broken away from just monetary uses and has earned a lot of attention for its potential. In the last few months, more and more use cases have come to prominence at blockchain has found uses in industries such as logistics, healthcare, politics, real estate, and even crypto-powered beer vending machines. It has also been tipped to completely revolutionize the way we vote, as well as provide microloans to SMEs in developing countries and to solve the energy crisis in third world countries.

 

E&S Group is a leading corporate & law firm offering various services with regards to ICOs. Feel free to contact us directly on +356 20103020 or by email at [email protected] to find out how E&S can help you in ‘making things happen’.

For more information click the link.

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Associated Press teams up with a blockchain-based journalist firm

Categories Blockchain, Technology, Trading, Payments, Tokens, Wallet, DLT, Journalism

Associated Press teams up with a blockchain-based journalist firm

The news agency, the Associated Press has started a licensing partnership with a blockchain based start-up called Civil. The news came in an announcement made on the 28th of August and AP will be one of the first, and certainly, the biggest media company exploring the benefits of blockchain in the world of journalism.

The idea behind the project is to explore various ways of securing intellectual property rights, ethical journalism, and content usage using the power of blockchain. An integral part of the project will include AP delivering its content such as international and national news to Civil, who will then allow other news agencies to access it via the blockchain platform. Any newsroom that wishes to access the AP content platform, will be licensed directly by AP themselves.

AP will own CVL tokens which will then be used as an incentive device to help keep up levels of accuracy and objectivity in newsrooms. SVP at AP, Jim Kennedy stated:

“AP has been pushing into new digital territory for more than two decades, and Civil is opening up another new space with interesting technology to explore and a commitment to good journalism. We’re eager to help cultivate the space and demonstrate our value to a new set of digital publishers.”

The Associated Press is one of the world’s largest and most respected news agencies and was founded in New York City, back in 1846. The agency operates approximately 263 news bureaus in 106 countries across the world. Civil, are a startup that develops technology to keep track of ownership and content rights in the journalism sector.

Back in July, Adblock Plus announced the launch of a blockchain-based browser extension called Trusted News that would flag ‘fake news’ whilst highlighting trusted sources and stories.

E&S Group is a leading corporate & law firm offering various services with regards to ICOs. Feel free to contact us directly on +356 20103020 or by email at [email protected] to find out how E&S can help you in ‘making things happen’.

For more information click the link.

 

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Fighting crime caused by digital currencies

Categories Blockchain, Cryptocurrency, ICOs, Technology, Trading, Tokens

Fighting crime caused by digital currencies

There is no doubt that the world of cryptocurrency and blockchain is an exciting one, but that doesn’t mean that it is immune to scams and rogue operators.

According to some recent research by an ICO advisory firm, Statis Group, up to 80% of ICOs in 2017 was revealed to be a scam or not all that they claimed to be. In a market where it is easy to get caught up in the excitement of new offerings, there is not much in the way of protection or recourse for investors and speculators.

But this is all set to change thanks to one individual, himself the victim of a scam, Patrick Kim. Using his 10 years of experience in network security and system architecture, he created the Uppsala Foundation. Enlisting the help of ethical hackers, he has created a blockchain-based verification service that is available as a plug into Google Chrome.

During the first half of 2018, it is estimated that around $1.6 billion of digital currency was stolen and it has become clear that criminals make use of the dark web to facilitate large-scale crypto theft-exactly what happened to Kim.

Despite taking precautions to protect his money, a small vulnerability in Ethereum’s own wallet, led to him loosing 7.218Eth after hackers took advantage of a two-minute security breach. He decided to conduct research into the issue and concluded that blockchain could actually be used to fight back against hackers, and it was then that the Sentinel Protocol was born.

Sentinel’s Uppward browser is available on Chrome and will keep track of all visited websites flagging any that seem suspicious. Users can also verify data from social media platforms such as Telegram, as well as wallets and URLs. The portal records all hacking incidents as well as crowdsourcing security news, advice and tips. Users are also able to flag certain sites and a pre-chosen Sentinel will validate whether it is reputable or not.

The Sentinels can then input into a Threat Reputation Database which is totally global and powered by individual experiences. Any data that is fed into the database is rewarded through UPP Points currency in the form of Sentinel Points.

Kim explained:

“There are a lot of ways for people to get hacked, whether it’s through a phishing website, malware infection or password compromise, our aim is to collect and provide these malicious addresses as well as scams, frauds, impersonation and other threat data in an accessible database so that funds won’t disappear. Instead, individuals from the comfort of their browser can double check if the destination address is the intended address and if all is exactly what it seems.”

He continued by stating that “If suspicious, we provide sandboxing technology to test any suspicious files and links via a segregated virtual environment. This can prevent phishing and malware infection in the first place.”

Over the next few months, Sentinel Protocol will team up with a number of cryptocurrency exchanges, wallets, and payment service providers to help stem the use of stolen cryptocurrency.

 

If you have any questions in relation to ICOs, and Malta’s legislation regarding ICOs and blockchain please contact us on [email protected]

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MFSA organised a seminar titled: Due Diligence and Cybersecurity in Relation to DLT

Categories Blockchain, Cryptocurrency, Regulatory, Malta, The Blockchain Island, DLT Regulation, Smart Contracts, Technology, Trading, Regulation, Artificial Intelligence, Tokens, Conference, MFSA, DLT, Privacy

MFSA organised a seminar titled: Due Diligence and Cybersecurity in Relation to DLT

 

Last Tuesday, 11th September, MFSA organised a day seminar for those who work in the field of DLT and Fintech which took place at Corinthia Palace Attard. The seminar titled ‘Due Diligence and Cybersecurity in Relation to DLT’, discussed many challenging issues that the DLT is facing. Many topics were discussed during this seminar, with a particular focus on cybersecurity, hacking and fraud.

E&S Group was represented by its team who gained a better insight into this ever-growing space.

Speakers from around the world, (most notably coming from France, Germany, England and the USA), attended the seminar. They spoke about their concern about hackers’ attacks which are made every day, and also covering the topic of frauds. In fact, in the past few years, many banks have experienced some kind of attack, with the consequence of losing their customers’ money. As a result, this has made the DLT space to look like a high-risk sector. However, everyone working in a network is subjected to an attack. The speakers all agreed that the blockchain technology needs to implement some sort of due diligence on the platform, preventing any hacks and tarnishing the sector further.

Moreover, it was discussed that crypto investors should conduct a due diligence procedure, helping banks and exchanges to identify who is fraudulent or not. Those institutions that do not follow any due diligence procedures are subjected to hackers accessing customers’ wallets, thus resulting in the bankruptcy of the company. In order to prevent such theft in the sector, cryptographers are creating complex algorithms to prevent such wrongdoings. This will help maintain the system to stay safe in combination with constant checks done to make sure no access is given to intruders. Mrs Maria Vello from Cyber Defence Alliance pointed out that that hackers are not anonymous and many criminals who stole money from banks have been caught by police.

VFA Agents in DLT

The event also highlighted the importance of VFA Agents. Accountants, auditors and lawyers who are applying to become a licenced VFA Agents have to go through a rigorous procedure, including, an exam, an interview and the applicable due diligence. The MFSA stated that this procedure is important to eliminate any “bad practises” within the industry. Moreover, the licenced VFA Agents need to conduct the Financial instrument test on their clients, thus presenting all the required information, one of which being the white paper, to the authority.

Malta has become the leading jurisdiction to have a friendly approach on DLT sector. At E&S Group we have helped over 80 ICOs to launch their project in Malta. If you would like to join these companies but require further advice, please contact us at [email protected] or by telephone on +356 2010 3020. We make things happen!

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Another digital exchange announces it is heading to Malta

Categories Blockchain, Cryptocurrency, ICOs, Malta, The Blockchain Island, Technology, Trading, Tokens, Wallet, DLT

Another digital exchange announces it is heading to Malta

In another boost to Malta’s bid to become the ‘blockchain island’, another well-known cryptocurrency exchange is heading to Maltese shores. ZB.com has just made public its intentions to relocate its centre of operations to Malta, following in the footsteps of industry leaders such as Binance and Bitbay.

Co-founder of ZB.com, Jimmy Zhao said:

“Malta is perhaps the world’s most progressive and forward-thinking nation in DLT, crypto and FinTech, and we are very excited to be part of the Blockchain Island.  We are confident we will be able to announce our live operations soon.” He added, “You quickly realize Malta’s commitment to building and supporting the crypto ecosystem.”

Malta’s Parliamentary Secretary for Digital Economy and Innovation, Silvio Schembri said that the recent news is just another example of why Malta is quickly cementing its position as the global hub for blockchain and cryptocurrency service providers. In a tweet regarding the news, Schembri said:

“More blockchain business to Malta. Welcome to the #blockchainIsland… Looking forward for your investment of over 20M in the first 3 years and employing over 150 people.”

Whilst many countries have been reluctant to develop regulations or legislation in favour of the booming industry, Malta has been at the forefront of efforts to create a legal framework that both protects and supports stakeholders. The EU country recently passed three bills including the Virtual Financial Assets Act that is due to be implemented into law by October 1st 2010. This makes them the first country in the world to create such laws and has been a highly attractive incentive for a range of businesses operating in the global market.

ZB.com is a crypto to crypto exchange and it now joins other big names such as OKEx, Binance, Bitay, and DQR in making Malta, the blockchain island, home.

 

If you would like to learn more about Malta’s progressive stance on ICOs and blockchain and what E&S Group are doing please follow this link.

Contact us directly on +356 20103020 or by email at [email protected] to find out more.

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EOS crowned the world’s best digital currency

Categories Blockchain, Cryptocurrency, ICOs, Technology, Trading, Bitcoin, Ethereum, DLT

EOS crowned the world’s best digital currency

EOS has once again been crowned the world’s top cryptocurrency by the Chinese government. The criteria for the award is based on innovation and application rather than market capitalisation. Whilst EOS takes the top spot, Bitcoin, the world’s leading cryptocurrency in terms of trading volume and market cap moved up seven places from June.

The Chinese Centre for Information Industry Development has made public the third edition of the Global Public Chain Technology Evaluation Index which lists dozens of cryptocurrencies in terms of satisfying a range of criteria. EOS has come first for the second consecutive time, despite issues around the platform’s mainnet launch back in June.

Part of the success of EOS has been put down to its scalability as the platform’s proof-of-stake protocol is able to process a large number of transactions in comparison to other leading blockchains.

Similar to the previous edition, Ethereum came in at number two but NEO dropped out of the top three to be replaced by Komodo which last time, had failed to crack the top 10.

The top 10 are as follows;

  1. EOS
  2. Ethereum
  3. Komodo
  4. Nebulas
  5. NEO
  6. Stellar
  7. Lisk
  8. GXChain
  9. Steem
  10. Bitcoin

Whilst Bitcoin has not performed particularly well on the first two CCID reports, it has seen a rise through the rankings following a big shift in the crypto-market. The dominance rate of Bitcoin has increased 40% over the past three months and it now accounts for over 52% of the entire market capitalisation.

EOS and Ethereum have seen big decreases in value over the same few months, with Ether reaching a 14-month low last week, leading to alarm bells ringing in the ICO sector.

The growing market share of Bitcoin means that other digital assets and currencies are destined to rise and fall with it. Whilst it is seen as a good sign if a cryptocurrency does not correlate with Bitcoin, recent price developments show that investors are stopping speculative bets for assets with a proven and demonstrable track record. Founder of Ethereum, Vitalik Buterin said that this will no doubt lead to a new year of ICOs with better protocols and improved business models. He believes that this paradigm, dubbed “Tokens 2.0” could materialise by the beginning of next year.

E&S Group is a leading law firm offering various services with regards to ICOs. Feel free to contact us directly on +356 20103020 or by email at [email protected] to find out how E&S can help you in ‘making things happen’.

For more information click the link.

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