Tech Tic Technologies

A leading Chinese marketing and management behemoth, ChinaNet, has announced that vibrant and pro-blockchain Mr. Yingguo Guo is now the new Chief Technology Official (CTO) of the company, according to a press release today. ChinaNet Hires Pro-Blockchain Executive ChinaNet is a NASDAQ-listed company (Nasdaq-CNET). According to the company’s website, ChinaNet is “integrated online advertising, precision marketing, and data analysis and management services platform” that is focused on providing comprehensive data analysis for its clients to help improve their business outcomes as well as create efficient enterprises. In the announcement, the company said that Yingguo will use his leadership capabilities and wealth of experience in technological innovation to help ChinaNet to expand its interest in the development of blockchain technology. Speaking about the new development, Mr. Handong Cheng, Chairman, President, and CEO of the company, shared his gratitude for having su

Litecoin, one of the most popular cryptocurrencies aside from Bitcoin, is noting a recent severe crash in its hash, almost reaching the 2017 levels. This decline comes just months following the 2019 Litecoin halving event. It raises the question among the community if Litecoin’s network can be jeopardized more easily if the hash rate continues to drop. Litecoin Hash Rate Plunging Litecoin’s hash rate is declining violently over the past six months. The all-time high was reached during the recent July 2019, approximately 523 TH/s. Ever since then, it has been decreasing continuously, and a few days ago, it noted its lowest value for 2019 at 149 TH/s. These numbers represent a total plunge of over 70% in just four months. The hash rate is an essential part of the cryptocurrency mechanism. It shows the amount of hash calculated each second over the network. It’s safe to assume that when more miners are mining Litecoin, it would mean more calculations performed per sec

The CEO of Bakkt, Kelly Loeffler, is reportedly going to take the seat in the U.S. Senate for the state of Georgia. Governor Brian Kemp is set to choose the businesswoman rather than President Trump’s choice – U.S. Rep. Doug Collins. Bakkt CEO In U.S. Senate Governor Brian Kemp appears to be clear with his choice for the U.S. Senate seat after months of anticipation and discussions. The state of Georgia will reportedly have the CEO of Bakkt, Kelly Loeffler, taking the hot seat. While this might sound like a surprising pick to some, Gov. Kemp is attempting to expand the Georgia GOP’s appeal to women with Loeffler. It should be officially announced at a press conference early next week, and this will make Bakkt’s CEO the second woman in the history of the state to serve in the U.S. senate. U.S. Rep. Doug Collins seemed to be the more sensible choice due to his experience. He has served as congressman four terms already. Moreover, Collins is one of the most vocal defende

It’s safe to say that the cryptocurrency market has seen better days. In just a few days, it lost around $20 billion of its total capitalization and it currently stands at $218 billion – a decrease of more than 8%. All of the top 20 cryptocurrencies are trading in the red with absolutely no exception. Regardless of whether it’s against the USD or against Bitcoin, altcoins are bleeding. TRON (TRX) has lost the most over the past 24 hours as it’s down by 6.63%, followed by Binance Coin (BNB) with 6.52% and Cardano with 6.06%. On the contrary, Tezos is the best-performing altcoin amid the recent declines as it’s down by only 0.02% on the day. XTZ’s performance in November has been nothing short of impressive, as the cryptocurrency is up more than 33% since the beginning of the month. The spike came as Coinbase, the largest US-based cryptocurrency exchange, announced that users will be able to stake XTZ and receive rewards for it. This latest retrace comes as Bitcoin broke below

Facebook has faced a maelstrom of criticism ever since it announced the Libra cryptocurrency. Lawmakers and bankers have been quite vocal in their negative views towards the developing stablecoin. However, it seems that Facebook is not waiting for Libra to launch a global payment platform as they have now introduced Facebook Pay . Cross-Platform Payments Facebook Pay is not a virtual currency. It is a payment system that uses credit cards, debit cards, and PayPal as options. Users can use Facebook Pay to buy items from shops, send money to other users, and donate to charity. The payments system can be used across the stable of apps associated with Facebook: Messenger, Facebook, WhatsApp, and Instagram. The payments will be processed on existing platforms, such as Stripe and PayPal. Facebook Pay will launch this week in the United States on Facebook and Messenger. No timetable has been announced for when the system will launch on the other apps or in other countries. No L

Xfers, a fin-tech company from Singapore, is set to launch a stablecoin called StraitsX by partnering with blockchain platform Zilliqa. The token will be pegged to the Singaporean Dollar, and it would be available in December 2019. StraitsX: A New Stablecoin on Its Way Xfers is a Singapore-based company focusing on online financial services like payment transactions. It provides a transparent and secure infrastructure for all sorts of businesses. By partnering with the popular blockchain platform Zilliqa and launching StraitsX (XSGD), Xfers aims to contribute to a more open financial ecosystem within Southeast Asia. The product is set to launch in December this year, and it will be pegged to the Singaporean dollar. Commenting on the matter was CEO, Tianwei Liu, who said: Additionally, the project should also receive the support of other major companies in the region, including Sparrow, WoWoo Exchange, Binance Singapore, and CoinHako. Xfers is also backed by F

In June of this year, Facebook announced its plans to launch a cryptocurrency dubbed Libra. However, the company has since seen a backlash, with regulators and the media grilling the project for a variety of reasons. With this in mind, let’s explore at least five reasons why Libra may not launch – something that is considered entirely possible within the cryptocurrency community. Regulatory Pressure It didn’t take long for Facebook’s future cryptocurrency project to grab regulators’ attention. Unfortunately, much of that attention was rather negative. The French finance minister and a German member of the European Parliament were among the first to react, calling for a discussion on Libra. Moreover, both countries agreed to block the project, stating that “no private entity can claim monetary power, which is inherent to the sovereignty of nations.” Months later, the situation surrounding Libra has gotten worse, and it has brought attention to the cryptoc

We may think nothing of filling out forms and providing data to ecommerce sites, social media sites, and public forums, but thieves and swindlers are ready to take advantage of our lapses. Online danger comes in all kinds of packages, from romance scams to phishing schemes.   Even huge companies are not immune to security breaches. An example of such is the eBay attack, where cyber attackers stole names, addresses, even passwords from eBay’s entire database of over 145 million users. Although the incident was reported in May 2014, the hackers were active for almost the entire prior year. Another example is the Yahoo Bust, where Yahoo lost the personal information of about 1.5 billion user accounts between 2013 and 2016.   So how do you stay safe online? The only way to make absolutely sure your data is safe online is to stop using the internet. That would be taking it too far, though. For most of us, the benefits of going online far outweigh the risks – we just have to be

The Investor Relations Vice President of PayPal, one of the world’s largest online payment processors, has said that Facebook’s Libra is consistent with PayPal’s ambitions when it comes to banking the unbanked. She also said that there’s a lot of work to be done on the project before it becomes something more than just an idea. PayPal Bullish on Libra Earlier this year, Facebook, the world’s largest social media website, announced its future cryptocurrency project, Libra. While it received mixed reactions from institutions and the crypto community, it remains one of the most widely discussed topics in the field. Weighing in on the matter was the Investor Relations Vice President of PayPal, Gabrielle Rabinovitch. Rabinovitch termed her company’s commitment to the project as non-binding and noted that “there’s a lot of work to happen before we get to that point where it becomes something more than just a very exciting idea.” However, she added that Libra’s goals ar

In a recent tweet, Changpeng Zhao, the CEO of the world’s leading cryptocurrency exchange, Binance, recently emphasized the potential profits that Binance Coin offers its holders. While a tweet of the kind might appear innocuous, it could also have an impact on the BNB price, given Zhao’s influence on the community, making the entire thing questionable. After all, we’ve witnessed prominent CEOs getting sued for propping up the value of their companies. How long will it be until the crypto industry is similarly scrutinized? CZ Emphasizes the Value of Holding BNB It’s safe to say that Binance Coin (BNB) has seen better days. Over the past few months, the cryptocurrency lost almost half of its value, plummeting from its all-time high of around $40 in June to $21. Interestingly enough, the decline comes amid seemingly massive developments for Binance and its overall ecosystem. Yet, all of that seems to have had no impact on investors. Against this backdrop, Zhao posted

Bitcoin marked a slight decrease of less than 2% in the past 24 hours, but its price remains above $10,000 for now. Things are looking relatively calm, as 30-day volatility has dropped to a low not seen since May. Yet if history is any indicator, it’s times like these that portend a violent move. Bitcoin Trading Between $10,000 and $11,000 For the past eight days, Bitcoin has been trading between $10,000 and $11,000, while its dominance rate has hovered around 70%. However, the past 30 days have seen relatively low levels of volatility. In fact, it has not been this low since May. As Tech Tic Technologies reported back in June, Bitcoin’s volatility, especially when raging, is a double-edged sword. Some believe it to be a good thing because it shakes out ‘weak hands’ and guarantees that BTC goes to the strongest holders. It’s also a function of the cryptocurrency’s scarcity because as the supply is static, the price can be volatile. On the other hand, it al

Three months ago, the world’s leading cryptocurrency exchange, Binance, announced that it would cut off access to the platform for US-based traders. The new rule is set to come into effect on September 12, which is tomorrow. The question is whether this will put additional pressure on the already suffering Binance Coin (BNB). Binance Shutting the Door to US-Based Traders Tomorrow Back on June 14, Tech Tic Technologies reported that the world’s leading cryptocurrency exchange, Binance, would be cutting off access to traders from the United States on September 12. US traders will still have access to their wallets and funds, but they will no longer be able to deposit or trade on Binance.com. The main reason for the move was to guarantee full regulatory compliance. However, Binance did act quickly and created an alternative for traders who wish to continue using the platform. According to the CEO of the company, Changpeng Zhao, Binance US will boast the same speed and liqui

Bitcoin’s halving, one of the most highly-anticipated events for the cryptocurrency community, is currently expected to take place on May 16, 2020. However, some are suggesting that the true date could be closer to April 2020 because of the rapid acceleration in the network’s hash rate. Bitcoin’s Hash Rate Accelerates Quickly In order to understand the significance of Bitcoin’s hash rate, it’s important to understand how mining works. When someone has a Bitcoin wallet and he or she wants to send some BTC from their wallet’s address to another one, they have to create a transaction and sign it with their private and public key and broadcast the transaction on the Bitcoin network. The goal is to add this new transaction to one of the blocks which will be added to the blockchain. The job of miners is to pick up those transactions and add them to a given block’s list of transactions. During this process, the miners also need to verify each transaction in order to prevent d