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Stellar Lumens [XLM] and Dash to be supported on BitGo blockchain security platform

Ajay Narayan



Stellar Lumens [XLM] and Dash to be supported on BitGo blockchain security platform
Source: Unsplash

Recently, California-based blockchain security company, BitGo announced their support for two major players in the cryptocurrency market, Dash and Stellar Lumens.

The Founder and CEO of BitGo, Mike Belshe stated that both the platforms offer advancement in payments. He added that Dash has been focusing on offering instant payments and one of their unique features is that the privacy payments can be accessed through their platform. He also spoke about Stellar Lumens [XLM] and how the platform had been contributing towards tokenization. He added:

“They have been focusing on the global payments for consumers which is a little bit different than what Bitcoin does”

BitGo, with the help of its custody product, supports 85 cryptocurrencies in the market, including Bitcoin [BTC], Ethereum [ETH], Bitcoin Cash [BCH], Litecoin [LTC], and Zcash [ZEC]. According to Fortune, BitGo announced that it will be supporting Lumens in a couple of weeks. The company had recently introduced BitGo Trust, which is a qualified custodian for digital assets approved by the financial regulators of South Dakota.

Mike stated that BitGo does not use its platform for trading but provides custodianship and securities. He added:

“In our view custodianship has been the missing piece in the infrastructure of digital currency”

He also spoke about the difference in the custody solutions offered by BitGo and other platforms. He said that exchanges are usually focused on retail investors, where they focus on signing up a hundred thousand users a day and the problem with this is that they have a very small team working behind the security. BitGo, on the other hand, has a fully dedicated research and development team whose sole purpose is to provide security to any company in the world.

BitGo had recently become one of the first cryptocurrency companies to offer custody solutions, especially for cryptocurrencies. The company has also agreed to open itself to audits, start the common scheme of ‘Know Your Customer’ and also reveal the company books on a monthly basis.

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Ajay Narayan is a full-time journalist at AMBCrypto. He has majored in Economics, Political Science and Sociology. His interests are inclined towards writing and investing in cryptocurrencies.


EOS, Tron [TRX] and Ethereum [ETH] are top three cryptocurrencies, says China’s CCID Group

Akash Anand



EOS, Tron [TRX] and Ethereum [ETH] adjudged top three cryptocurrencies by China's CCID Group
Source: Pixabay

Analysis of the cryptocurrency market by various global entities has been a standard procedure for a lot of organizations to keep track of the updates and developments in the field. One such major analyst is China’s CCID Group, which works under the Xi Jinping-led country’s Ministry of Industry & IT [MIIT].

In the latest edition of CCID’s Global Public Blockchain Technology Assessment Index, it was stated that EOS retained its title as the best cryptocurrency according to three factors assigned by CCID. The three factors were basic technology, applicability, and creativity, criteria that are aimed at assessing the most effective digital assets in the market right now.

In terms of basic technology, EOS scored a whopping 103.7, making it the only cryptocurrency to breach the 100-mark. It received a score of 20.2 and 24.7 when it came to applicability and creativity, respectively. The surprising result of this assessment was that Bitcoin [BTC], the largest cryptocurrency on the charts, did not even feature in the top-10 of the CCID rankings.

According to the analysis, Tron came in second with a Basic tech score of 95.6 and an applicability score of 24.3. Tron CEO Justin Sun had stated multiple times that EOS and Ethereum were Tron’s biggest competitors, but it turns out that it had the lowest creativity score among the three, clocking 24.1 to Ethereum’s 31.0.

The third-ranked cryptocurrency was Ethereum [ETH], sticking to the trend as all the three cryptocurrencies were focusing on DApps. Despite being third in the rankings, Ethereum had the lowest basic tech score, with its 76.6 being lower than that of relatively smaller coins like Steem and Ontology.

There seem to be some connection with DApps and the CCID rankings as these applications slowly entered the main fore in the cryptocurrency environment. Sources informed that Tron DApps had recently surpassed that of Ethereum and EOS in terms of weekly active and new users.

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