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How QChain is Leading the Next Generation of Blockchains

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The blockchain industry has made significant strides in the last decade, particularly with the advent of cryptocurrency. Thanks to the success of tokens like bitcoin, blockchain has been firmly placed on the world map and has gained much more attention and users. Despite all of this, it is fair to state that the first generation of blockchains had a number of issues.

For example, many of the first-generation blockchains were not built to scale and rarely offer more than 20 to 30 transactions per second. Additionally, many blockchain interfaces were too complex for average people to use effectively and this limited the number of people who could take advantage of them. There were also limits imposed on its functionality.

Blockchain can be used for many industries but it has been restricted mostly to financial programs. Finally, there was an issue of the legal framework in that cryptocurrency is widely used and accepted in some countries but banned in others. While the last decade has seen the industry make many strides, these issues need to be addressed if blockchain is going to survive into the future and see the global scale of use that it seeks.

New-Generation Blockchains

Many of these problems were prominent in first-generation blockchains but thankfully, we are currently in the fifth generation of blockchains and several issues have been addressed. While cryptocurrency is likely the most publicly visible form of blockchain use, ecosystems based on blockchain are being used for data warehouses, games, and so on.

More development has also been made in blockchain security and things like scalability, 51% attack vulnerability as well as high power consumption have been addressed to a certain degree. Additionally, some more benefits have been offered to consumers such as lower cost and faster transaction time. One blockchain that is leading the way in developing the fifth generation of blockchain is QChain, which first appeared in early 2021 but will be introducing its main functionality by the end of the year.

How QChain Works

A quick look at QChain shows that scalability is at the heart of its operations. This is because QChain was initially created to accommodate a wide as possible range of users. This included people who are new to crypto, experts as well as government agencies and even private firms and as a result, QChain supports a wide range of operations.

It is also very accessible in terms of devices supported as it can be used through anything from a smartphone to a supercomputer. It is also built to be as understandable as possible with a very simple interface that even non-blockchain users will find easy to understand.

With smart contracts, which are one of the most innovative applications of blockchain, up to five people can be used to leverage a smart contract at the same time. The most popular tokens like Bitcoin and Ether are supported by QChain and while its full functionality will be coming at the end of the year, a number of products and services are already live.

Qchain, like many blockchain ecosystems, has its own native token in form of the Qtoken, which is used for trading crypto, paying for goods and services, and receiving dividends. There have been three sales of the token which included a private round and two rounds of a public sale and tokens from the general pool were sold during that time.

There is also the possibility of staking tokens in the Qchain ecosystem to make a passive income which has become quite popular among crypto users. Qswap is where the buying and selling of cryptocurrencies can take place in the ecosystem and considering the high global transaction volumes of crypto trading, this is a very relevant platform.

QChain has also gotten into the NFT sector which has bloomed in the last year with the Qtoken NFT through which unique digital assets can be sold. There is also the Magic Lotto which allows users to play the lottery with instant payouts and transparency. There are several other features that QChain will be offering and all are designed to not only offer their customers the best but also make sure the pitfalls of the first-generation blockchains are avoided.

For example, compared to the first generation of blockchains that offer 20 to 30 transactions per second, QChain has already been able to achieve 100,000 transactions per second which allow for widespread use among consumers. QChain also uses both the proof-of-stake and proof-of-trust consensus which means it uses much less energy than proof-of-work systems such as bitcoin. The versatility in which it can be used on devices means that it is more accessible to everyone and is moving away from the previous inaccessibility that required specialized systems.

While the first generation of blockchains led the way in introducing blockchain technology to the world, the current fifth-generation is building upon it and eliminating many of the initial issues. Qchain is clearly one of such blockchains and as its full functionality rollout approaches, we are likely to see even more from them.

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Source: https://blockonomi.com/qchain-guide/

Blockchain

MANA Technical Analysis: Expect the Price to Fall Below the First Fibonacci Pivot Support Level of $0.655 Soon

MANA Technical Analysis: Expect the Price to Fall Below the First Fibonacci Pivot Support Level of $0.655 Soon

Rate this post MANA is a token that powers a virtual reality platform called Decentraland. MANA is an in-game token that can be used to buy plots of land and goods and services within the virtual reality space. Let us look at the technical analysis of MANA. Past Performance of Decentraland On September 18, 2021, MANA started trading at $0.815. As of September 24, 2021, the closing price of MANA was $0.702. Thus, in the past week, the MANA price has ranked by roughly 13.54%. In the last 24 hours, MANA has traded between $0.64-$0.75. https://www.tradingview.com/x/X0L58OoJ/ MANA Technical Analysis Currently, the price is trading below the support line of the parallel channel. It broke down from the rising trend. The price is currently trying to break out of the resistance zone and enter the parallel channel again. However, yesterday’s BTC shakedown changed the course of the price. Let us see what the price action is suggesting about the price movement: Currently, MANA is trading at $0.705. The price is near its renaissance and zone. It is trying to enter into the parallel channel, we have to wait and watch the price action. If the buying pressure increases, we can assume the price to breakout and enter the parallel channel. The MACD and signal lines are in the negative zone. However, a bearish crossover by the MACD line over the Signal line has occurred. Thus, the overall Decentraland market momentum is bearish, and we can expect a price to fall. However, both the lines are close to the zero line and may change signs soon. Thus, a trend reversal is on the horizon. The OBV indicator is gradually increasing. Thus, buying volumes are higher than selling volumes. Hence, we can predict that the investors are not losing their interest in the token. The RSI indicator is at 42.46%. It has just resisted from the 44.90% mark. Thus, selling pressures are slowly mounting. Hence, we can expect the price to start falling again in a few hours. Also, the RSI can form a base around this level and start to rise after taking support from this zone. Day-Ahead and Tomorrow The MANA price has fallen below the Fibonacci pivot point of $0.777. As some of the oscillators have shown bearish signals, we can expect the price to fall below the first Fibonacci pivot support level of $0.655 soon. Traders can take a short position by keeping a stop loss at $0.805. The price has tested and fallen below the FIB retracement level of $0.80. If the price falls below the 23.6% FIB extension level in some time, this implies that the price downtrend is strong. In that case, the price downswing is likely to continue tomorrow as well. However, if the price breaks out of the immediate resistance of $0.777. It will highlight the next resistance level, which is at $896. Traders can go long by keeping a stop loss at $0.655.

The post MANA Technical Analysis: Expect the Price to Fall Below the First Fibonacci Pivot Support Level of $0.655 Soon appeared first on Cryptoknowmics-Crypto News and Media Platform.

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MANA is a token that powers a virtual reality platform called Decentraland. MANA is an in-game token that can be used to buy plots of land and goods and services within the virtual reality space. Let us look at the technical analysis of MANA.

Past Performance of Decentraland

On September 18, 2021, MANA started trading at $0.815. As of September 24, 2021, the closing price of MANA was $0.702. Thus, in the past week, the MANA price has ranked by roughly 13.54%. In the last 24 hours, MANA has traded between $0.64-$0.75.

TradingView Chart

MANA Technical Analysis

Currently, the price is trading below the support line of the parallel channel. It broke down from the rising trend. The price is currently trying to break out of the resistance zone and enter the parallel channel again. However, yesterday’s BTC shakedown changed the course of the price. Let us see what the price action is suggesting about the price movement:

Currently, MANA is trading at $0.705. The price is near its renaissance and zone. It is trying to enter into the parallel channel, we have to wait and watch the price action. If the buying pressure increases, we can assume the price to breakout and enter the parallel channel.

The MACD and signal lines are in the negative zone. However, a bearish crossover by the MACD line over the Signal line has occurred. Thus, the overall Decentraland market momentum is bearish, and we can expect a price to fall. However, both the lines are close to the zero line and may change signs soon. Thus, a trend reversal is on the horizon.

The OBV indicator is gradually increasing. Thus, buying volumes are higher than selling volumes. Hence, we can predict that the investors are not losing their interest in the token.

The RSI indicator is at 42.46%. It has just resisted from the 44.90% mark. Thus, selling pressures are slowly mounting. Hence, we can expect the price to start falling again in a few hours. Also, the RSI can form a base around this level and start to rise after taking support from this zone.

Day-Ahead and Tomorrow

The MANA price has fallen below the Fibonacci pivot point of $0.777. As some of the oscillators have shown bearish signals, we can expect the price to fall below the first Fibonacci pivot support level of $0.655 soon. Traders can take a short position by keeping a stop loss at $0.805.

The price has tested and fallen below the FIB retracement level of $0.80. If the price falls below the 23.6% FIB extension level in some time, this implies that the price downtrend is strong. In that case, the price downswing is likely to continue tomorrow as well.

However, if the price breaks out of the immediate resistance of $0.777. It will highlight the next resistance level, which is at $896. Traders can go long by keeping a stop loss at $0.655.

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Source: https://www.cryptoknowmics.com/news/mana-technical-analysis-expect-the-price-to-fall-below-the-first-fibonacci-pivot-support-level-of-0-655-soon/

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Pat Toomey Calls China’s Crypto Ban “a Big Opportunity for the U.S.”

Pat Toomey crypto crackdown

Rate this post With PBoC recently declaring that all crypto transactions in China will be deemed illegal, Republican Senator Pat Toomey sees this as the perfect opportunity for the United States to set its dominance in the tech industry. China’s Crackdown is an Opportunity for the U.S. Says Pat Toomey According to tweets by U.S. Senator Pat Toomey, China’s ongoing crackdown on cryptocurrencies is a big opportunity for the United States. “China’s authoritarian crackdown on crypto, including #Bitcoin, is a big opportunity for the U.S. It’s also a reminder of our huge structural advantage over China.” Toomey’s comments follow the most recently released statement from the People’s Bank of China (PBoC) that declared the ban of all crypto-related transactions including services provided by foreign exchanges. The announcement triggered a market-wide pullback, sending the price of the leading cryptocurrency Bitcoin (BTC) down to slightly above $40,000. Toomey claimed that “Beijing is so hostile to economic freedom they cannot even tolerate their people participating in what is arguably the most exciting innovation in finance in decades”. He argued that “economic liberty leads to faster growth, and ultimately, a higher standard of living for all.” American Crypto Regulation Appears Still Unclear In the meantime, crypto Twitter responded to the senator’s tweet saying that their own U.S. Securities and Exchange was itself “hostile to economic freedom” Recently our own SEC has been pretty hostile to economic freedom. — McChadald’s CEO (@mcchadald) September 24, 2021 For instance, Coinbase eventually opted against launching its Lend product after the U.S. SEC declared its intention to sue the exchange if it went forward with its plan. In a blog post, Coinbase said that the company has been actively engaged in dialogue with the SEC for six months prior to receiving the threat of being sued. Per the post, after engaging extensively with the SEC about the product, Coinbase was told that the regulatory agency “consider Lend to involve a security, but wouldn’t say why or how they’d reached that conclusion.” Earlier this week, Coinbase said it would continue to “seek regulatory clarity for the crypto industry as a whole” and that they have made the “difficult decision” to not launch the Lend program and discontinue the Lend waitlist.

The post Pat Toomey Calls China’s Crypto Ban “a Big Opportunity for the U.S.” appeared first on Cryptoknowmics-Crypto News and Media Platform.

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With PBoC recently declaring that all crypto transactions in China will be deemed illegal, Republican Senator Pat Toomey sees this as the perfect opportunity for the United States to set its dominance in the tech industry.

China’s Crackdown is an Opportunity for the U.S. Says Pat Toomey

“China’s authoritarian crackdown on crypto, including #Bitcoin, is a big opportunity for the U.S. It’s also a reminder of our huge structural advantage over China.”

Toomey’s comments follow the most recently released statement from the People’s Bank of China (PBoC) that declared the ban of all crypto-related transactions including services provided by foreign exchanges.

The announcement triggered a market-wide pullback, sending the price of the leading cryptocurrency Bitcoin (BTC) down to slightly above $40,000.

Toomey claimed that “Beijing is so hostile to economic freedom they cannot even tolerate their people participating in what is arguably the most exciting innovation in finance in decades”. He argued that “economic liberty leads to faster growth, and ultimately, a higher standard of living for all.”

American Crypto Regulation Appears Still Unclear

In the meantime, crypto Twitter responded to the senator’s tweet saying that their own U.S. Securities and Exchange was itself “hostile to economic freedom”

For instance, Coinbase eventually opted against launching its Lend product after the U.S. SEC declared its intention to sue the exchange if it went forward with its plan.

In a blog post, Coinbase said that the company has been actively engaged in dialogue with the SEC for six months prior to receiving the threat of being sued. Per the post, after engaging extensively with the SEC about the product, Coinbase was told that the regulatory agency “consider Lend to involve a security, but wouldn’t say why or how they’d reached that conclusion.”

Earlier this week, Coinbase said it would continue to “seek regulatory clarity for the crypto industry as a whole” and that they have made the “difficult decision” to not launch the Lend program and discontinue the Lend waitlist.

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Source: https://www.cryptoknowmics.com/news/pat-toomey-calls-chinas-crypto-ban-a-big-opportunity-for-the-u-s/

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Coinbase wants to be ‘an advisor, a helpful advocate’ for this purpose

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“While half of the lawmakers in DC have misconceptions about crypto, the other half have realized that the crypto industry is a huge opportunity….”

If that isn’t ambiguity on the part of United States lawmakers, it would be difficult to say what is.

Coinbase CEO Brian Armstrong touched upon the same in a recent podcast with Anthony Pompliano, with the exec citing his latest visit to the capital to expand on the regulatory uncertainty in the United States.

According to Armstrong, ordinarily, “the intense demand for crypto-industry regulation” is a good thing since it often accompanies the growth of the industry itself.

However, as far as Washington DC is concerned,

“They think ‘this is scary, this is dangerous,’ they have all kinds of misconceptions about the percentage of activity that’s for illicit activities. In their mind, they think it’s like 50% illicit activity.”

Not all lawmakers feel this way though, with quite a few in the Capitol recognizing that the crypto-industry is a huge opportunity.

“They realize this is a hugely important industry for the United States and every country around the world. It exists in a competitive environment where the U.S needs to attract these entrepreneurs and get these companies built here.”

American citizens want these products and services, and crypto is not a fringe thing anymore, he added.

Can the aforementioned concerns be addressed though? Well, yes. According to Coinbase’s own research, for instance, illicit activity accounts for less than 1 percent of all crypto-transactions. In fact, a higher percentage of cash is used for such activities worldwide.

Even so, denying people what they want can have huge repercussions in the future. According to the exec,

“There are tens of millions of Americans that want to use these products and services and they’re getting a benefit from it that they weren’t getting in the traditional financial system.”

An embargo in place?

It’s worth pointing out here that the exec didn’t hold back one bit when characterizing the situation in the United States.

“It’s almost like prohibition, historically. You can’t go out and try to criminalize something 50 million Americans are doing. You’re just going to turn them all into criminals, but they’re not going to stop doing it.”

The fact that these lawmakers have refused to meet with crypto-representatives, including those from Coinbase like Armstrong, further feeds into this notion of criminality.

Next steps…

What next? Well, Coinbase wants to propose a federal regulatory framework and “be an advisor and a helpful advocate for how the U.S. can create sensible regulation.” The expected proposal is set to be presented by the end of the month or early next month. 

How will such a proposal be received, however? Well, it’s difficult to say. After all, Coinbase’s relationship with the SEC recently took a hit after it was threatened with legal action over its planned lending products.

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Source: https://ambcrypto.com/coinbase-wants-to-be-an-advisor-a-helpful-advocate-for-this-purpose

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