Bitcoin held on to its gains above the $15,000 psychological mark, up 0.6% at press time early Wednesday, as a former public official who is considered to be cryptocurrency-savvy was appointed to lead the financial policy transition team for President-elect Joe Biden.

What Happened: Former Chairman of the Commodity Futures Trading Commission Gary Gensler has been appointed to lead the financial policy transition team for President-elect Joe Biden, CoinDesk reported Tuesday.Gensler has studied cryptocurrency closely and earlier testified before the Congress advocating against comparisons between cryptocurrencies and Ponzi schemes.

Meanwhile, the deposit contract for Ethereum 2.0 has reached over 50,000 ETH or 10% of the required needed to usher in the new update, according to CoinDesk.

The Vitalik Buterin-created cryptocurrency is making a move away from proof-of-work to a model that supports proof-of-stake.

In order to become a validator on the new network, an Ethereum user must stake a minimum of 32 ETH. Once the new network goes live the validators will start earning block rewards to the tune of 8-15% annually, CoinDesk reported.

Ethereum (ETH) traded 3.73% higher at $460.68 at press time, Chainlink (LINK) traded 3.55% higher at $13.13 and XRP traded 1.62% higher at $0.255.

Bitcoin Cash (BCH) and Monero (XMR) wereoutliers to the upward movements of the altcoins declining 2.18% and 0.93%to $257.45 and $115.83, respectively.

Why It Matters: Analysts pointed to institutional interest in the cryptocurrency space and the bullish movement of these assets overall, CoinDesk reported separately.

Bitcoin has returned 114.94% returns and Ethereum has shot up 254.26% on a year-to-date basis.

Various institutions are committing to new products and R&D and giving a new set of investors more comfort that the space is maturing,Brian Mosoff, CEO of Ether Capital, told CoinDesk.

BTC is digesting the recent confusing macro and political events and consolidating before its next move, said Jean-Marc Bonnefous, managing partner at Tellurian Capital, as per CoinDesk.

Bonnefous noted the rotation from BTC to decentralized finance (DeFi), which he said was in full swing now and was typical of traders redeploying capital to higher yielding assets.

Price Action: Bitcoin traded 0.59% higher at $15,389.19 at press-time.

2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Bitcoin Holds, Ethereum Surges As Biden Appoints Cryptocurrency-Savvy Gary Gensler To Lead Financial Policy Transition Team - Benzinga

Previously, the role of a cryptocurrency exchange was very straight-forward; provide a platform and facilitate the buying and selling of cryptocurrency. It seemed simple enough and for a long time, this method worked for most of the community. However, innovation has since caught up, and to be successful, an exchange has to have a community element.

Besides traditional trading services, strong exchanges should provide innovative products such as margin trading, as well as community-focused tools like debit cards and native tokens. Newer exchanges have taken note of this and are launching with more advanced products that help satisfy consumer demands.

Introducing DEXFIN

One new exchange is DEXFIN, which will formally launch its full version on November 25. DEXFIN does not function merely as a platform for token trading. DEXFIN acts as a one-stop solution for digital assets: buy/store/trade/manage your assets, profit from staking, save on fees, take advantage of tokenization, and more. The platform also allows you to manage your digital assets easily and efficiently, even on the go.

It is also worth noting that while DEXFIN is a European company, they are aiming for a global experience for their customers. DEXFINs business model is based around circular tokenomics, bridging the gap between cryptocurrencies, company capitalization processes, and individuals. This is possible through a transparent, secure, and token-based circular economy using blockchain technology.

While several popular exchanges have created offshoots of their main platforms to serve different regions, DEXFIN appears to be doing all this from a single platform.

Why Is The Industry Changing?

First, it should be noted that more people than ever hold cryptocurrency wallets and actively use cryptocurrencies in their everyday lives. In fact, there are now over 30 million wallets holding some amount of Bitcoin.

More trading activity means that more options will be needed for both depositing and withdrawing funds. Due to common issues that cryptocurrency firms often face when conducting business globally, more exchanges began creating their own debit cards to encourage seamless use. Over time, this was expected in the industry rather than a special feature used to market an exchange.

With this maturity and mainstream attention came institutional funds that brought traditional financial services experience and legitimacy. Naturally, this class of investors would not be satisfied with simply trading tokens, and to accommodate them, exchanges began to evolve. Margin trading, crypto lending, and extensive trading pairs also grew in popularity, and exchanges were forced to adapt to survive.

When these exchanges wish to raise funds, they often do so by selling a native token that acts as the trading mechanism on the exchange. The increasing impact of strong communities with crypto exchange implies consumers also seek speculative value in the exchange tokens they use and trade. They become token holders, users, and spokespeople for the exchanges and tokens they are affiliated with.

DEXFIN And Virtual Reality

After the launch of DEXFINs exchange, DEXFIN will exclusively list the VICTORIA VR Token project. This virtual reality project is aiming for global reach and is based on Unreal Engine and Oculus technology. Their goal is to connect people through a whole new medium.

This listing will provide an opportunity to participate in global companies that are helping facilitate a new virtual world of collectibles. Thanks to the DEXFIN exchange and the sale of the VICTORIA VR token, you have a unique opportunity to participate in global companies and exploit the growth and potential of the virtual world.

Exchanges Of The Future

Consumers now want communities, accessibility, innovative features, and a sense of belonging. DEXFIN is a good example of an upcoming exchange looking to integrate features that are innovative and in demand. New exchanges must adapt and create systems that value and include their users, are accessible to a changing crypto landscape, and create a better environment for all who use crypto.

Disclaimer: the writer does not have any relationship or vested interest in DEXFIN. Please consult your financial advisor before investing in or using any cryptocurrencies or cryptocurrency exchanges as both pose risk. This article is for educational purposes and does not constitute financial advice.

2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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How New Exchanges Are Changing The Landscape Of Cryptocurrency Use - Benzinga

KEY POINTS

The chief technology officer of Ripple, David Schwartz, has said he lost a total of $300,000 after makinginvestments in altcoins or alternative cryptocurrencies.

Schwartz was replying to a question posted on Quora, asking if anyone "lost money trading in Bitcoin and other cryptocurrencies." It received answers from different people, but of them, only Schwarzer had a strong background in the cryptocurrency industry. XRP, which is issued by Ripple, is one of the top five cryptocurrencies by market capitalization.

Schwartz said he made some investments in cryptocurrencies that turned out to be disasters. He did not list all the cryptocurrencies but said the following had to be written off as worthless: TIX, DICE, FLASH, VEZT, AMP, SIG, BEE, KIND, PRYZE, KUDOS, NRN.

Most of these coins had peaked in 2017 and 2018 but are currently worth zero. For instance, TIX is worth $0.001, according to CoinGecko, and KIND is worth $0.000997, CoinMarketCap data shows. Some of the coins can no longer be found either on CoinMarketCap or CoinGecko, suggesting that their value had been zero for quite some time, Cointelegraphreported.

It is not the first time Schwartzhas spoken about some of hisbad investment decisions. In a tweet in October, he revealed that he sold 40,000 Ether very early for $1 each in 2012; 40,000 ETH is currently worth $18.5 million. He alsosold a sizable amount of Bitcoin for $750 and a large number of XRP for $0.10, Schwartz said in a tweet.

When asked why he is advocating for cryptocurrencies when he himself did some de-risking, Schwartz said he is a risk averse-type of person. Also, because there are people who depend on him financially and emotionally, he could not risk it all into cryptocurrency. He said he is now into XRP and owns Ripple stock, while acknowledgingthat the risk is very high in the entire cryptocurrency space.

"I'm just too rational to pretend otherwise and suggest others do the same,"headded.

Here, a man walks past a display cabinet containing models of bitcoins in Hong Kong, Aug. 3, 2016. Photo: ANTHONY WALLACE/AFP/Getty Images

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Ripple Chief Officer Loses $300,000 By Making This Cryptocurrency Investment Mistake - International Business Times

Payment platform expanding to include Bitcoin, Ethereum, and other digital currencies

PayPal has announced that its US customers will soon be able to pay for goods using cryptocurrency, as the payment platform moves towards offering a wider range of services.

Last month, the company revealed it would give a select few customers the opportunity to buy and hold Bitcoin, Ethereum, Bitcoin Cash, and Lite Coin on its platform. Buyers can also sell any unwanted currency back to PayPal.

Due to the overwhelming demand from users, PayPal has now expanded the scope of its trial to offer the cryptocurrency service to all US customers over the coming weeks.

The price of Bitcoin has been skyrocketing over recent weeks. And for one industry-watcher, the rally has been galvanized by PayPals announcement that it was bringing Bitcoin to the mainstream.

Its probably one of two factors, Oliver Knight, crypto reporter at Coin Rivet, told The Daily Swig, citing major investment in the past year as another reason for the spike in Bitcoins price.

The price of 1 BTC topped the $13,000 mark on November 5

I dont know how sustainable it is, Knight added. Im not saying Bitcoin will go to $100,000, but its definitely a lot brighter outlook than a few months ago, based mainly on the PayPal news.

Speculation is rife over how long the Bitcoin rally will continue, but one thing is certain: security will be at the top of PayPals concerns as it looks to bring cryptocurrency to the masses.

Over the past few years, a number of high-profile crypto-exchanges around the world have fallen victim to cyber-attacks, with malicious hackers gaining access to internal networks, emptying users virtual wallets in the process.

Crooks also continue to target crypto-enthusiasts with phishing emails designed to gain access to their accounts.

Since PayPal is essentially opening the door for more people to venture into the cryptocurrency market, including those inexperienced with blockchain-related payment processes, could this spark a fresh wave of economic cybercrime?

Not exactly. PayPal is not offering what crypto experts call a custodial service, meaning that users cannot transfer the cryptocurrency they have bought there off the platform in order to use it elsewhere.

Read more of the latest cryptocurrency security news

Knight said: The service that theyre offering is a non-custodial service, so essentially if I were to go to another exchange [and] deposit 100 of Bitcoin, I could do whatever I want with that.

I could withdraw it from my [virtual] wallet, I could withdraw it to a paper wallet, and bury it in a desert whereas with PayPal they essentially have all the custody.

By offering a non-custodial service, Knight argues that accounts making use of PayPals cryptocurrency offering will be no less secure than those that hold regular, fiat currencies.

He said: I feel like the security issues are sort of the same as having a lot of regular currencies in your PayPal account if your password gets stolen, youre at risk, but in terms of Bitcoin I think theyre going to make it really quite easy to use.

When it comes to security, PayPal is held in fairly high regard among the infosec community. An early adopter of crowdsourced security, the company launched its bug bounty program in 2012, which has since expanded.

In the same stroke, however, Knight urged vigilance among those new to cryptocurrencies, and warned that PayPals easy-to-use platform could cause problems for users by giving them false confidence in securely navigating the wider crypto market.

Knight explained: If someone goes to PayPal, buys some Bitcoin, and thinks, Look its really easy!, then goes to another exchange and loses their private key theres essentially no way of retrieving it.

READ MORE Collision avoidance: OpenSSH lays out plans to ditch aging SHA-1 hashing algorithm

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Security concerns doused as PayPal brings cryptocurrency to the masses - The Daily Swig

The internet is alive with rumours of the cryptocurrency mining prowess of AMDs new RDNA 2 architecture, as seen in the new Radeon RX 6800, 6800 XT and 6900 XT GPUs. According to a user on QQ, a snapchat-esque social media platform in China, the vanilla RX 6800 is fully 1.5 faster than Nvidias mighty GeForce RTX 3090.

If accurate, it would make the 6800 and by implication all AMD RDNA 2 cards dramatically more efficient for crypto mining than Nvidia's Ampere GPUs. It would also imply a huge bun fight among miners competing to buy RDNA 2 cards and in turn inflated prices and run on availability. Not nice if youre thinking about buying one of these gaming cards for, you know, gaming.

We have, after all, been there before back in 2017 and 2018 when the retail pricing of many graphics were twice the recommended prices thanks to mining demand. Indeed, mining is at least partly to blame for the way even the MSRP pricing of all GPUs has escalated over the past four or five years.

But is the rumour of RDNA 2s mining muscle actually true? On balance, probably not. Apart from the source hardly being the last word in fact-checked authority, the workload for most cryptocurrencies is bandwidth sensitive. That just happens to be a notable weak point of all the new RDNA 2 GPUs thanks to their relatively narrow 256-bit memory buses.

Arguably, there is scope for RDNA 2 to perform well if the bandwidth sensitive parts of the mining workload can fit inside AMDs 128MB of Infinity Cache, a feature designed to reduce the need to fetch data from VRAM over that 256-bit bus. However, to take one example, Ethereums current DAG file is around 4GB. To avoid polling VRAM when hashing Ethereum, therefore, RDNA 2 would need a 4GB on-chip cache.

In any case, many currencies are expressly designed to avoid being accelerated by cache hits. Moreover, its AMDs CDNA architecture that we would expect to be the mining beast. RDNA and RDNA 2, broadly speaking, has been designed to be a rendering and rasterisation monster, not a compute beast.

In fact, were one setting out to design a GPU architecture that was fast for gaming but not so much for mining, it would look an awful lot like RDNA 2 with its modest 256-bit plus Infinity cache technology and conventional ratios between compute units, texture processing and pixel output.

Anywho, it will certainly be an interesting issue to track as RDNA 2 cards are released later this month. If it turns out that Nvidias Ampere-based RTX 3000 series boards are instead the weapon of choice for crypto mining, that will only make Nvidias supply and pricing problems even worse. Watch this space.

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Is AMDs Radeon RX 6800 a cryptocurrency mining beast? - PC Gamer

Coinmerce, a Dutch cryptocurrency platform, announced on Monday it has been added to the crypto registry of the Dutch Central Bank. Coinmerce claims it is one of the first companies that offer both wallet and trading functionalities in The Netherlands that is accepted.

Founded in 2017, Coinmerce states it is the cryptocurrency trading platform for everyone and makes it possible for everyone to buy, sell, and store cryptocurrencies.

We started Coinmerce to provide a simple way to manage cryptocurrency. Since then, we have grown the platform and our community without losing sight of our mission; cryptocurrency for everyone, everywhere.

Speaking about the milestone, Nick Smits van Oyen, Founder of Coinmerce, shared:

This is a very important step for the future of Coinmerce, as we can now remain doing what we are doing in the Netherlands. This would not be possible without a registration. Its a confirmation for our customers that they buy, sell and store their cryptocurrency on a platform which fulfills its regulatory requirements when it comes to prevention of money laundering and financing of terrorism.

Coinmerce further revealed that the preparation for registration started at the end of 2019, the actual registration process started in May this year. Smits van Oyen went on to add:

It has been a very extensive and intensive process, which mainly involved implementing and documenting the policy, the underlying procedures and controls. All with the aim of minimizing the risk of money laundering, terrorist financing and fraud.

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Cryptocurrency Exchange Coinmerce Added to the Crypto Registry of the Dutch Central Bank - Crowdfund Insider

Losses from cryptocurrency thefts, hacks, and fraud declined to $1.8 billion for the first 10 months of the year compared with last year, but crime in the hot decentralized finance sector rose, according to a report from crypto intelligence company CipherTrace.

Crypto crime hit $4.5 billion globally in 2019.

What we have seen is that exchanges and other cryptocurrency players have implemented more security procedures, Dave Jevans, CipherTraces chief executive officer, told Reuters.

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They have taken the guidance and implemented the procedures to secure their funds better. So youre going to see less mass-scale hacks.

So far this year, losses from thefts and hacks, excluding misappropriation and fraud, grew to $468 million as of end-October, up 30 per cent from $361 million for the whole of last year, the CipherTrace report said. About 20 per cent of those hacks, or roughly $98 million, came from decentralized finance or DeFi, which are transactions on platforms that facilitate lending outside of banks.

The total number of loans on DeFi platforms was $12.6 billion as of late Monday, industry site DeFi Pulse data showed, up more than 200 per cent from roughly $4 billion in August. DeFi sites run on open infrastructure, with algorithms that set rates in real time based on supply and demand.

The surge in DeFi was what ultimately attracted criminal hackers, resulting in the most hacks for the sector this year.

In 2019, DeFi hacks were virtually negligible, CipherTrace said.

Companies and individuals have rushed DeFi products to market that have not gone through security verification and validation, said Jevans. So people are figuring out that theres a weakness here.

With DeFi networks permissionless by design, which means they often lack clear regulatory compliance, anyone in any country is able to access them with little to no customer-verification hurdles involved.

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As a result, Jevans said DeFican easily become a haven for money launderers.

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Cryptocurrency crime has slowed this year, but 'DeFi' hacks on the rise: report - The Globe and Mail

The crypto seizure order is part of a scheme that has allegedly defrauded "tens of thousands" of ... [+] Brazilian investors.

The U.S. Department of Justice (DoJ) has announced yesterday (4) the seizure of virtual currency worth around $24 million on behalf of the Brazilian government as part of an investigation into a large-scale fraud scheme.

According to the Brazilian authorities, more than US$ 200 million was obtained through the cryptocurrency fraud scheme, which is believed to have impacted "tens of thousands" of investors.

The US seizure order was obtained after an official request from Brazil and is part of a cooperation between the two countries around legal assistance in criminal matters.

The fraud scheme is being investigated by the Brazilian federal police as part of Operation Egypto, launched in May 2019 to investigate financial institutions operating without authorization from the Central Bank, as well as other crimes such as financial embezzlement and money laundering.

As a result of the latest developments within the investigation, several individuals have been charged. Central to the fraud case is Marcos Antonio Fagundes, a Brazilian national that is being accused of owning or controlling the virtual currency that has been seized. The crypto firm holding the wallets involved, which has not been named, has cooperated with the law enforcement authorities in the case.

In addition, Fagundes is being accused of several violations of Brazilian law, including the operation of a financial institution without legal authorization, misappropriation and money laundering, as well as securities law violations. Fagundes is the founder of InDeal, a company based in the Brazilian city of Novo Hamburgo that operated with crypto exchanges established in the U.S., China, Japan and Malaysia.

According to the DoJ, court documents relating to criminal proceedings involving Fagundes describe an operation where the Brazilian and his associates pitched investments in cryptocurrency to potential backers online and in person, describing them as "innovative investment opportunities".

The Brazilian court has found, however, that the conspirators have allegedly made "false and inconsistent" promises to investors regarding the way the funds were invested and the return rates were exaggerated.

The DoJ's Money Laundering and Asset Recovery Section International Unit and the Office of International Affairs are now working with the Brazilian authorities, as well as the FBI and the US Marshals Service to restrain the cryptocurrency and preserve it for forfeiture proceedings pending in Brazil. That is so investors impacted in the fraudulent investment scheme can receive some compensation.

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US Seizes $24 Million In Cryptocurrency On Behalf Of Brazilian Government - Forbes

Written by Tim Starks Nov 5, 2020 | CYBERSCOOP

The Department of Justice said Thursday that it seized approximately $1 billion worth of bitcoin, its biggest cryptocurrency seizure ever.

Theannouncement solves aa years-oldmystery about the shuttered Silk Road dark web market for illegal drugs and other unlawful goods, widely regarded as the largest and most extensive dark web marketplace of its time before its 2013 demise.

The law enforcement action solves another riddle about a bitcoin wallet that just saw a nearly identically valued amount of cryptocurrencywithdrawn after sitting dormant for a long time.

The successful prosecution of Silk Roads founder in 2015 left open a billion-dollar question. Where did the money go? said U.S. Attorney David Anderson. Todays forfeiture complaint answers this open question at least in part. $1 billion of these criminal proceeds are now in the United States possession.

Motherboard reported Wednesday on the Election Day emptying of the wallet. Then the complaint, filed Thursday, detailed how federal investigators tracked down someone identified only as Individual X, who had hacked the funds from Silk Road much to the dismay of Silk Road creatorRoss Ulbricht.

According to the investigation, Ulbricht became aware of Individual Xs online identity and threatened Individual X for return of the cryptocurrency to Ulbritcht, the complaint reads. Individual X did not return the cryptocurrency, but kept it and did not spend it.

On Tuesday, Individual X signed an agreement to forfeit those Bitcoins, whereupon feds took over the money.

The U.S. government still must prove its case in court to retain the cryptocurrency.

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DOJ seizes $1 billion in cryptocurrency tied to Silk Road dark web market - CyberScoop

Brisbane, Australia, Nov. 06, 2020 (GLOBE NEWSWIRE) -- Scalable, Flexible and Applicable to Multiple Use-Cases Metrix Coin and its ticker MRX is not just another PoS cryptocurrency, but rather a blockchain technology that offers benefits to consumers and businesses, scalable to encompass growth and flexibility to implement in multiple use-cases.

About PoS cryptocurrencies

A little background about PoS crypto algorithms first. In this kind of algorithm, anyone with a certain amount of coins participates in the transaction validation and block creation process that renders a stake reward (a process known as staking). It is simple, one must create a wallet, hold coins until maturity is reached, and have it connected online participating in the network to start receiving stake rewards. In order to prevent centralization and monopolization of the network by someone with the highest value of coins at stake, a number of techniques (i.e. randomization, age of holdings, staking limits, etc.) are used in the consensus algorithm to determine which user will create the next block.

About Metrix Coin

There is no dearth of PoS cryptocurrencies in the crypto economy. However, few of them have enough flexibility built into them that they can be used for a wide range of use-cases. Most of them are built for specific use cases only (i.e. gaming, e-commerce, P2P payments, etc.). But for mainstream adoption of PoS cryptocurrencies, it is necessary that PoS cryptocurrencies become multipurpose. Metrix Coin has fast transaction speeds of 10,000 transactions per second, ~90 second block times, is cost affordable, and harbors Bitcoins Unspent Transaction Output (UTXO) and Ethereum Virtual Machine (EVM) environments which make it perfect for e-commerce transactions and smart-contract development. The Metrix Coin blockchain is a hardfork from Quantum. However, Metrix Coin offers products and services that make it a robust blockchain and project overall that is for everyone and everything.

Consumer Benefits

Metrix Coin has incorporated a deflationary model that may attribute the value of the coin to appreciate over time. Consumers that stake their Metrix Coins will receive per annum in succession 10% for 2 years, 5% for 4 years, 2% for 6 years and 1% until max supply is reached. People may hold their Metrix Coin using any of the following products made in-house: Altitude, a desktop wallet available in multiple operating systems (OS); MyStakingWallet, an online wallet staking 24/7 that is also available as a mobile app for either android or iPhone; or MyNodePool, a stake pool service.

Business Partner Benefits

Metrix Coin aims to enhance business models customized to the needs of the business practice while also focusing on improving business-to-consumer (B2C) relationships. Partners that integrate Metrix Coin blockchain technology may expect to grow their brands to a worldwide audience while participating in Metrix Coins Partner Network at zero costs.

As mentioned earlier, Metrix Coins deflationary model will be a contributing factor to Metrix Coin value appreciation over time. Consumers that hold Metrix Coin as an asset will gain in passive income through the stake rewards. In addition to the inherent value that the blockchain offers to consumers, partners that integrate a custom incentive business model will not only grow their client base, but also retain them.

Metrix Coin products: Altitude, MyStakingWallet, and MyNodePool are accessible, without the technical hassles, that facilitate consumers to use Metrix Coin as a means of payment.

Metrix Coins marketing model further propels business partners to reach a worldwide audience at zero cost. Metrix Coin Business Developers have fine-tuned this productive model to provide an ease of mind to business partners underlining business growth.

Metrix Coin support team is available 24/7 to assist with any technical issues.

Developments

Metrix Coin also comes with its own ecosystem of a payment processing app, wallet, an altcoin pool, a gaming platform, and many other apps that are still being built. These apps were built by the core team of Metrix Coin to show its immense capabilities. The project also established a DIY technical support guide, email support system, and a support chat service to assist with their user-bases technical needs.

Metrix Coin Blockchain Solutions

A challenge that has been witnessed time-and-time again in the crypto-space is blockchain ecosystem disruption, or hardforking and softforking to fix security issues, smart-contract issues, and outdated blockchain parameters (block gas limit, block size, gas schedule, etc). Hardforking is when another blockchain is created from the existing chain, thus allowing two chains. Softforking is when only script lines of code are added to the current blockchain, think of it as an update to the existing blockchain.

One of the fascinating aspects of Metrix Coin is its Decentralized Governance Protocol (DGP) built on smart-contract technology. As the protocol implies, blockchain issues are addressed without the need for disrupting the network with forks by appointing Governor nodes, or Governors, to oversee blockchain changes via the DGP lens. If the existing chain needs an upgrade or an update, DGP and the governor node consensus will mandate to apply necessary changes to the betterment of the Metrix Coin blockchain. Under the same governance protocol, governor nodes may vote on budget proposals allocating necessary funding to development. Metrix Coins governance protocol is a force of significant improvement that will push beyond the boundaries of its own development. Project development will never be hindered such that the power of the community will always ascertain its potential growth.

Metrix Coin is a DeFi Ready Blockchain

Decentralized Finance (DeFi) has reshaped how we visualize the financial and banking system. DeFi is a permission-less financial service ecosystem that does not need banking support. Recently, DeFi protocols which are built on smart-contracts have gained much popularity by giving the liquidity provider (LP) financial gains. How it works is the LP deposits a stablecoin, which is pegged against ETH, another cryptocurrency, or fiat currency into a liquidity pool and earns a %APY in return. These assets may be traded in available decentralized markets or deposited into other liquidity pools offering the best yield in return. There are multiple DeFi protocols that are tailored to serve various financial services (lending and borrowing, yield farming, derivatives, margin trading, etc). Metrix Coin is a DeFi Ready blockchain, meaning that it offers the scalability that DeFi protocols warrant without congesting the network and raising the cost of a transaction to increase. DeFi protocols on Ethereum have caused gas prices to rise making it expensive to submit transactions across the platform affecting other projects. And as mentioned previously, Metrix Coins DGP provides the network oversight to address any smart-contract issues or blockchain problems. Developers may have a peace of mind to build their DeFi protocols on the Metrix Coin blockchain without the burden of network congestion and security.

Metrix Coin. For Everyone. For Everything.

There are very few Proof-of-Stake cryptocurrencies that are fast, scalable, and affordable at the same time and offer consumer and business solutions. Metrix Coin is a proven blockchain that offers more to e-commerce transactions and smart-contract developments. With its superfast transaction speed, deflationary staking model, quick block times, decentralized governance, scalability and DeFi capabilities, its one of the few PoS cryptocurrencies that can become mainstream.

And now it has become even more important because it is listed on the WhiteBIT exchange. This is its 4th major exchange listing after BarterTrade, DigiFinex, and P2PB2B. With a fast-growing and loyal community, robust features, and solid team, Metrix Coin has the potential to outperform many other PoS cryptocurrencies in the game of mainstream adoption.

For more information about product services visit http://www.metrixcoin.com, or email trent@metrixcoin.com if you would like to learn how our business model and blockchain may enhance your business practice.

Join Metrix coin Telegram and discord:Telegram: https://t.me/officialmetrixcoin Discord: https://discord.gg/DY4d7AV

Media Contact Details:Company Name: Metrix CoinCompany Email: trent@metrixcoin.comCompany website: https://www.metrixcoin.com/

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Metrix Coin: An Efficient Decentralized Proof-of-Stake (PoS) Cryptocurrency That Exhibits Many Benefits for Consumers and Businesses - GlobeNewswire