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Data Visualization in Mobile App Development

Data visualization plays a significant role in both the PC and mobile app worlds. It works for far more than just merely business, as it has immense feedback potential. When developing virtually anything, you’ll want Read more…

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Data visualization plays a significant role in both the PC and mobile app worlds. It works for far more than just merely business, as it has immense feedback potential.

When developing virtually anything, you’ll want to test it out. Now, the data that you garner from tests can be redundant, useless, or situational – which means you’ll have to root it out.

After rooting out the less desirable raw data and turning it into viable data, you’ll want to present it. This step is essential in most marketing strategies and integral to making any educated business decision.
When you’ve refined the data to such an extent that it’s viable, you’ll want to present it in a positive and understandable light. Not everyone, especially not sponsors and users, will understand what the endless stacks of numbers mean.

Humans are highly visual creatures, which means that you have to present the data visually. That is where the role of data visualization in mobile app development comes in.

Why is Data Visualization Crucial In Mobile App Development?

When it comes to mobile app development, you’ll usually need to do many things before you tie a project up. If you want to put advertisements on your app, which you most likely do, you’ll want to place them in the optimal position.

Another crucial step in development is testing. When you’re developing an app or a service for a mobile device, you’ll want to know what the user experience is like.

Not every phone is an iPhone, and not every operating system is the same. Smartphones come in all kinds of shapes, sizes, and serve different purposes. Now, this is liawhy you need to test your mobile app on as many phones as possible.

The last thing you want to check when developing a mobile app is its actual usability. To gain a perspective on what you need to optimize your app fully, you’ll want to test it.

All of this testing is only as viable as the data that’s garnered from it. After filtering out the data, you’ll need to visualize it.

Visualizing your data has a significant implementation in all spheres of development. When you’re visualizing your data for mobile app development, you can expect the following:

  • Better feedback from users
  • Better understanding by sponsors and users
  • More optimized app design
  • Highlighted app issues
  • Faster reaction and patching time
  • Data interaction
  • AI and AR optimization
  • Garner even more data

Data visualization is integral to a proper development cycle, as it works to connect the users, developers, managers, and sponsors through a simple, understandable, and streamlined medium.

Data Visualization During The Apps Lifecycle

A developer’s job is never actually complete. Smartphone applications are disputably a form of art and require constant management, upgrades, and updates. If you want your app to be a success, you’ll have to devote a lot of time to optimize it.

When an app is out, you’ll start receiving a lot of feedback from the users. Most of these comments are going to be positive, as long as you’ve performed proper testing before releasing your app – but some will be criticism.

Some criticism isn’t based on anything, just a salty user venting their frustration, and might provide redundant data. Collecting all the feedback that you receive from your user base takes a while and refining that data will make all the redundancies out.

When the data is viable, you again have to present it. By showing your feedback data in visual form, you get a better picture of the changes that need to be made.

As a manager, this will allow you to better converse with your administrators, developers, and sponsors to fix, improve, or otherwise convey your app better to the general public. Through data visualization, your app will gain an edge over the competition, as your reaction time decreases significantly.

Different people understand different things differently. Visualizing your data makes it easier to digest for most people, which will, in turn, yield the results far quicker and more accurate. If a developer or administrator would like the raw numbers, you can always provide them.

Ground Rules for Data Visualization in Mobile App Development

There are a couple of ground rules that you need to take into account when you’re looking to visualize all of the data associated with your mobile app. We’ve made a brief checklist to ensure that your data visualization ventures are as streamlined as possible.

Data Refinement

When you’re collecting any large pool of data, you’ll want to refine it as much as possible. The first data collected is always raw data, which isn’t of much use to anyone due to situational data, redundancies, and faux data.

Keep It Simple

When presenting your data, make it as simple as possible. The whole point of your data visualization venture is to ensure that it’s digestible, easy to understand, and intelligible. Making your presentation simple will help you convey your point more precisely.

Regard Different Platforms

When you’re developing a mobile application, you need to take your users’ phones into account. Phones come in all shapes and sizes, and mobile apps run on watches, tablets, and many other appliances. Take them into consideration when working with your data.

Reckon Feedback

Not all feedback will be accurate or usable, but you’ll still have to regard it. Don’t take any piece of data as a redundancy unless you’re sure that it is.

Conduct Proper Action

After presenting your data, you’ll have to take action. Take into account all the feedback and use your data visualization to make informed business decisions. Data visualization will also aid you in setting your priorities.

In Conclusion

There is nothing quite as important as proper data visualization when it comes to mobile app development. Adequate data visualization gives you all the necessary information you need to keep your app running smoothly.

It also has an immense application in user interactivity, app management, and sponsors – so make sure to visualize your data correctly.

Source: http://blog.ionixxtech.com/data-visualization-in-mobile-app-development/

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Opimas estimates that over US$190 billion worth of Bitcoin is currently at risk due to subpar safekeeping

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May 2021. Safekeeping of cryptocurrencies presents a challenge for institutions holding cryptocurrencies on their clients’ behalf. Cryptocurrency transactions are irreversible and anyone with full access to a wallet’s private key controls the cryptocurrencies that reside within it. Frighteningly, a number of institutional participants and even some large cryptocurrency exchanges rely on subpar custody approaches, leading Opimas to estimate that over US$190 billion worth of Bitcoin is currently at risk due to subpar safekeeping.

Luckily, a number of companies have emerged to address this problem. A new research report from Opimas—Crypto Custody: No More Excuses, authored by analysts Suzannah Balluffi and Anne-Laure Foubert—looks at the landscape of cryptocurrency custody-enabling technology providers and institutional-grade cryptocurrency custodians as well as the size of the market for cryptocurrency custody and brokerage services.

Some key findings in the report include:

Many of even the largest holders of Bitcoin and other digital assets continue to rely on storage devices meant for individual investors. Although some of these self-custody devices and wallets are secure and reputable, the operational risk posed by this approach is significant for institutional investors. Furthermore, a chunk of institutionals’ cryptocurrency holdings sit in hot wallets on exchanges. In total, about 22% of institutional cryptocurrency holdings are safeguarded in these relatively risky manners (Figure 1).

Figure 1. CUSTODY METHODS UTILIZED BY INSTITUTIONAL INVESTORS 

 

Source: Opimas analysis.

There are no more excuses for lackadaisical safekeeping – institutions can now choose from several reputable cryptocurrency custody-enabling technology providers and institutional-grade cryptocurrency custodians. Yet no custody solution is equal – there is still no best practice when it comes to security and governance relating to private keys. For example, some providers may rely on time-tested Hardware Security Modules (HSMs), while others use a newer technology known as Multi-Party Computation (MPC) – see Figure 2.

Figure 2. A COMPARISON OF HSM AND MPC TECHNOLOGY PROVIDERS

Source: Ledger, Fireblocks, Opimas analysis.

Some cryptocurrency custodians have followed in the footsteps of traditional capital markets by adding prime brokerage services to their offerings, including trading and settlement, lending, margin finance, staking, reporting, and capital introduction services. Opimas estimates that the current annual revenues generated by the institutional crypto brokerage and custody market are roughly US$2 billion and will grow to nearly US$8 billion by 2026 – a sizeable portion of this coming from brokerage services (Figure 3).

FIGURE 3. THE MARKET FOR CRYPTO CUSTODY & PRIME BROKERAGE SERVICES IS GROWING 

Source:  Opimas analysis. 

  • Regulations surrounding institutions’ ability to store cryptocurrency have become clearer (and in some cases more favorable) in numerous jurisdictions. Notably, the Office of the Comptroller of the Currency (OCC) ruling in the US has allowed banks to store cryptocurrencies for their customers. This regulatory clarity has led a number of financial institutions around the world to provide trading and custody for digital assets. With the advances in brokerage and custody solutions, Opimas expects institutional cryptocurrency holdings to grow from 20% of the cryptocurrency market cap to over 50% by 2026 (Figure 4).

FIGURE 4. INstitutional cryptocurrency holdings over time 

Source:  Opimas analysis.

Source: PlatoData Intelligence

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Bitcoin (BTC) Price Prediction: BTC/USD Faces Rejection Thrice at the $60,000 Resistance Zone, Resumes Downward Correction

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Bitcoin (BTC) Price Prediction – May 9, 2021
Bitcoin bulls have broken above the $58,000 resistance but the bullish momentum could not be sustained. Today, BTC/USD traded as price reached the high of $59,450. The king coin is likely to retrace to $57,000 low if the bulls fail to break the $60,000 psychological price level.

Resistance Levels: $65,000, $70,000, $75,000
Support Levels: $50,000, $45,000, $40,000

BTC/USD – Daily Chart

Bitcoin price was rejected thrice at the $60,000 resistance level. Buyers made frantic efforts to sustain the bullish momentum above the recent high but were repelled by overwhelming selling pressure. Consequently, Bitcoin has resumed a downward move as a result of a strong rejection at the resistance of $59,200. The current retracement will extend to the low of $57,000. Nevertheless, if price breaks below the $57,000 support, the market will continue the downward move. That is, the selling pressure will extend to the low of $53,000. On the upside, if price retraces and finds support above $58,000, the upside momentum will resume.

Bank of England Governor Warns on Crypto Investment
Andrew Bailey is the governor of the Bank of England who has warned crypto investors of the inherent dangers of cryptocurrency investment. The governor argued that cryptocurrencies lacked intrinsic value. According to him, “I would only emphasize what I’ve said quite a few times in recent years, [and] I’m afraid they have no intrinsic value. I’m sorry; I’m going to say this very bluntly again: Buy them only if you’re prepared to lose all your money.” Bailey’s comments are coming at a time when crypto markets are characterized by a huge spike in crypto prices. Major altcoins such as Polkadot, Chainlink, and XRP have also seen vertical price actions.

BTC/USD – 4 Hour Chart

Bitcoin risks another downward correction as the king coin faces stiff rejection at the $59,450 resistance. The Fibonacci tool has already indicated a marginal upward move of Bitcoin and a possible reversal. On May 1 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that Bitcoin will rise to level 1. 272 Fibonacci extension or the high of $59,819.90. From the price action, BTC price has reached a high of $59,450 and has commenced a downward move.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://insidebitcoins.com/news/bitcoin-btc-price-prediction-btc-usd-faces-rejection-thrice-at-the-60000-resistance-zone-resumes-downward-correction

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Dogecoin dumps following mention from Elon Musk on Saturday Night Live

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Meme cryptocurrency Dogecoin finally got its long-awaited shoutout on Saturday Night Live — but despite hodler hopes, the immediate result has been a violent dump.

First teased by entrepreneur and DOGE cheerleader Elon Musk in late April, the Tesla CEO finally mentioned the digital asset on live television tonight in his opening monologue of the sketch comedy show. The reference was a throwaway line from Musk’s mother, who joined him onstage and asked if her Mother’s Day gift would be Dogecoin; Musk replied that it would be. 

In the minutes afterwards, $DOGE dumped upwards of 25%, falling as low as $.50 from $.66 highs at the start of the show. It has since partially recovered, trading at $.52 at the time of publication.

An hour before the episode began, the price of DOGE sat at $.66, down from an all-time high of $.72. A pair of bearish headwinds may have shared responsibility for the pullback: Musk himself seemed to try and get ahead of the hype, urging followers in a Tweet to “invest with caution,” and a host of new data indicates that many investors may be rolling their DOGE profits into other, largecap digital assets

Additionally, Barry Silbert — the founder and CEO of Digital Currency Group, the parent company of crypto investment vehicle company Grayscale — announced a public short on DOGE via the FTX exchange. In a series of follow-up Tweets, he revealed that the position was $1 million in size, and that any proceeds or remaining funds after closing the short would be donated to charity. 

(It’s unclear if Silbert was is using “we” in reference to Digital Currency Group, one of its portfolio companies, or is simply and bizarrely using a plural pronoun in reference to himself). 

Many DOGE investors were nonetheless holding out hope for a high-profile shoutout on what looked to be a major pop culture event. NBC, the studio behind SNL, chose for the first time ever to live-stream the episode on Youtube, per the Wall Street Journal.

Even a mention could have significant impact on the price of DOGE as well: the meme currency has proven to be susceptible to price movements based on positive social media volume, and multiple studies have shown that Tweets from Musk often lead to price appreciation. A mention on an even bigger platform was thought to potentially lead to even greater gains. 

Leading into the premier of the episode, Alameda Research trader Sam Trabucco (who said in a previous Tweet that he was “studying the typical SNL episode structure to try and understand when a DOGE mention would be the most natural”) speculated that if a joke or mention didn’t come in Musk’s opening monologue, it would be “all over.”

Despite arriving during the monologue, traders nonetheless responded negatively. It remains to be seen if a DOGE-centric skit later in the show can perhaps turn the speculative asset’s fortunes around.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/dogecoin-dumps-following-mention-from-elon-musk-on-saturday-night-live

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