First Hyperledger-Based Kryptonie Increased 486% Overnight After Bitcoin Commercial Pair Announced at Bittrex

The first Hyperledger-based kryptonet to reach mainnet status rose 486% overnight, possibly due to an imminent commercial pair with Bitcoin.

A little-known altcoin called Metacoin (MTC) registered a 486% growth in profits in just 24 hours on January 18, after Bittrex announced that it would include a pair with Bitcoin (BTC) for cryptomoney.

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Metacoin is based on the Hyperledger network, a general project of open source technologies focused on the construction of authorized blockchain ecosystems for large companies in various sectors. Metacoin became the first Hyperledger crypto currency to achieve main network status when it went live in 2018.

Hyperledger was founded by the Linux Foundation and is overseen by a series of „premium members“, comprising leading technology and finance companies such as IBM, J.P. Morgan, Fujitsu, Hitachi and more.

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On January 15, the Bittrex Global crypto currency exchange announced that it had opened its Metacoin wallet for MTC deposits, and will soon offer trading against Bitcoin.

Just over 48 hours after the announcement was made, the price of each MTC had more than quintupled. From an initial price of USD 0.026540 on Sunday night, the dollar value of the currency increased, rising to a brief high of USD 0.155600 on Monday afternoon, an increase of 486%.

Metacoin (MTC) gained 486% during a busy trading day.

Metacoin’s trading volume reached an all-time high of USD 482,000 on the day, all emanating from a single BTC trading pair on the cryptoexchange, Liquid. This only exceeds the volume of USD 444,000 recorded in August 2020, during the first two weeks of the currency in the open market.

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In particular, despite the increase that immediately followed the announcement of Bittrex Global, there is still no commercial data for Metacoin on the site, and the BTC/MTC pair is still shown as „offline“.

Taking Hyperledger’s modular, cross-sector toolset as a starting point, Metacoin acts as a multi-functional blockchain platform where enterprise tokens can be issued and on-chain trading can take place. The platform also hosts a number of decentralized applications (DApps), including ColdBank, a crypto-cash service using IBM’s LinuxONE technology, as well as blockchain-based gaming applications.

Lots of new features – Dash drives upgrades, “simplified payment” goes into the alpha phase

Dash Core Group is improving its blockchain platform with new upgrades, and payment service DashPay is going alpha.

The block chain platform Dash has transferred the development of the update v0.17 in the testing phase, as shown in a press release on Wednesday stating

In July 2020, Cointelegraph had already reported that the Dash Core Group wanted to switch to the test network with this version before the end of the year.

As Dash explains in the press release, the test network is five times larger than the Evonet development network, which is operated almost exclusively by the Dash Core Group. Dana Alibrandi, Dash’s Product Manager, explains:

„This is the most extensive expansion of the Dash platform, which is why this release is the most important milestone to date in achieving our long-term goal of mass suitability.“

In the details of the update version v.017, Dash states that, among other things, a security gap in credit minting has been closed, and the light client is even better supported

After the transfer from v.017 to the test network, the next step on the agenda for Dash is the development of v.018. This update is due to come at the end of January or the beginning of February, with further improvements for the light client as well as improved functionality of iOS and Android apps being included.

In addition, Dash is now known that the payment system DashPay in the alpha phase goes. In contrast to the usual crypto transactions, which are processed via long and difficult to read wallet addresses, DashPay wants to make it possible to simplify this payment process by using more easily readable addresses.

Although other crypto companies already offer a similar service within a closed ecosystem , Dash would be able to use this function for the entire blockchain network.

Contact lists and avatars should also simplify the payment process. However, the start of the “social payment wallet” is not planned for the end of 2021.