Huobi Global releases details of crypto buying campaign and RUB withdrawals/deposits

Recent news from global cryptocurrency exchange Huobi has seen the platform announce user support for the Russian Ruble (RUB). This latest development will mean that Huobi users can now withdraw and deposit in Russian Rubles. This is, of course, great news for the long-term success of the exchange itself and also users there who have been waiting for RUB support on the platform.

This is not the only new announcement made by the company though. They have also released details of users now being eligible to buy top digital currencies, such as BTC, LTC, ETH, BCH and DASH with Rubles. These new innovations will work in conjunction with AdvCash, which is one of the most respected payment solutions around in the crypto world.

RUB deposits and withdrawals in Huobi – how does it work?

Huobi Global has confirmed that both crypto buying and RUB deposits/withdrawals will be conducted through AdvCash wallets moving forward. This will come with a minimum deposit/withdrawal limit of 200 RUB for users. There has also been a maximum limit introduced for deposits of 100,000 RUB and 50,000 RUB for withdrawals.

It seems that the process of making transactions in RUB via AdvCash wallets on Huobi will be pretty simple. Users will be asked to provide identification details first, which will then be verified by AdvCash. People will then simply log into their Huobi Global Account and find the ‘Deposit-Exchange’ option under ‘Balances’. Once there, you would just find ‘RUB’ on the list of eligible currencies to fund your account with them.

Verification of KYC also needed

At this point in the process, users will also have to complete and submit their KYC for verification, if not done already. When this is all sorted, you can then choose ‘AdvCash Balance’ as your method of payment and choose how much you want to deposit. You then choose ‘Pay’ and get sent to the AdvCash platform where you set up an account or log in to continue.

After this, the whole payment procedure can be finished by using any of the options in your wallet. Once the payment is completed, you will be sent back to the ‘Deposit’ page and be able to carry on using Huobi Global as usual. Security is assured as all transactions made to and from your Huobi account are recorded.

Special RUB promotion period

Those who decide to use RUB in the current promotion period can save 0.99% on deposit fees and 2.49% on fees for withdrawals. It is also expected that Huobi Global’s decision to bring RUB into their platform will pave the way for other FIAT currencies to follow.

Source: Pressat

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Legal? The Future of Cryptocurrency and the Law

Cryptocurrency is a relatively recent invention, especially when we compare it to a traditional currency, which has been around as long as humans have lived in organized societies. But with any new development, there is a natural hesitancy in acceptance of change, especially from those who are in control of the old ways. But does this hesitancy translate into cryptocurrency being illegal? Let’s take a closer look at the legality or otherwise of cryptocurrency today.

Property or Currency?

Since cryptocurrency is an alternative to national currencies, and they don’t comply with the same regulations that a central bank would enforce on official currencies, governments are hesitant to acknowledge them as real currencies. In many places, the legal establishment has deemed cryptocurrency to be property rather than currency. But why does this matter? It makes any legal complaint concerning being treated unfairly as a different procedure. Any sale is deemed to be an exchange of goods rather than a financial transaction.

Criminal Activity

The link to criminality tarnishes the view of the cryptocurrency in the eyes of the general public. But we need to consider that in most places, it is not the use of the cryptocurrency that is the illegal activity, rather what the currency is used for. There are a far higher number of criminal transactions using regular money than using crypto. Why is this is not used as an argument to ban all use of money? We cannot ignore that there is a reason for criminals to use cryptocurrency, and that is how difficult it is to trace transactions.

Purchase Protection

As we mentioned earlier, with crypto coins often not recognized as real money, you don’t receive the same payment protection as with other payment methods. A good example is the chargeback procedure when buying large-value items with a credit card. You can get around this by opting to buy USDT with a credit card rather than a bank transfer.

Trading & Profits

How do you track profit and loss when trading in cryptocurrency? It is tempting to leave these transactions off your tax return, and given the nature of tracing these payments, you would almost certainly get away with it. But that’s not to say you should try and get away with it. If you are to do things by the book, you only really profit when you transfer your coins to regular currency. Before this moment, you should consider them Capital Assets and lodge them in your accounts as such.

Banned

Although we have talked of cryptocurrency not being illegal, this is only true in most places. Some countries have made it illegal to purchase cryptocurrency, such as Namibia. It is essential to be mindful of these laws when traveling internationally or trading internationally to avoid criminal charges or freezing of your funds.

 

This article has been contributed on behalf of Paxful. However, the information provided herein is not and is not intended to be, investment, financial, or other advice.

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Typerium: the app that aims to revolutionise content creation

UK-based blockchain start-up Typerium has revealed an app that it says will change the way content creation is done for everyone.

The app, available on the Apple App Store, is designed to enable users to create fantastic visual content that can be shared instantly on every digital platform.

Typerium will expand its offering in the future, but even v1 of the app offers the opportunity for creators to access sophisticated suites of photo and text editing options, more than 400 premium fonts from some of the best type foundries around and free access to more than half a million stock images.

There are also more than 40,000 professional-quality designed assets already available on the Typerium app, with more added every day.

Simplicity is also key to the Typerium platform: with it, you can share the assets you’ve created to every social media network with just one click.

Crucially, though, all this work is protected by Typerium using blockchain technology.

The app took more than two years of work to reach the point of a successful launch, but Alex Haigh, the founder of Typerium, feels the app could change the game completely for content creators.

“It’s been an extremely challenging 2 years,” he says, “however, I believe we now have a solid foundation to build on to compete with companies like Canva, who have concerned the market for too long.”

Ultimately, Typerium intends to facilitate the work of content creators with a whole blockchain-protected ecosystem where they can work and run their business. This means a social media network and marketplace as well as a distributed platform for content creation.

Alex Haigh again: “What we are ultimately setting out to build has never been done before. In these current times, it’s more important than ever to provide people with an opportunity to become self-sufficient without the need for reliance on huge corporations or marketplaces for their livelihood. This is the first crucial step towards creating a decentralised platform that has the potential to empower content-creators.”

With top-quality designs available, a look and feel that’s smooth and sophisticated, and an easy versatility and simplicity in its operation, the first iteration of the Typerium app looks to be off to a good start.

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Huobi Futures Celebrates $2.6 Trillion in Trading Volume

Huobi Futures has just celebrated over $2.6 trillion in cumulative trading volumes since its launch just over two years ago.

Its launch date was December 10, 2018 and ever since then, the trading platform has gone from strength to strength, now being considered one of the go-to places for derivitace product options.

A constant look towards the future and a aim to expand its product options have helped its growth. For instance, USDT-margined Swaps, Coin-margined swaps and futures are among the services that are central to Huobi’s offering currently.

This is demonstrated by USDT-margined Swaps accounting for almost 23 percent of the trading volume of all units as of December 3rd. Huobi’s coin-margined futures trading, which includes 13 major crypto assets, also has had a unilateral turnover of $1,907bn since its launch.

Not only that, but Huobi’s coin-margined swaps is the no.1 coin-margined swaps market globally.

Its trading volume of USDT margined perpetual swaps is also growing, with a cumulative total of over $60.5 billion as of December 4th, 2020. Earlier this year, Huobi further demonstrated their ability to offer an excellent service, by launching USDT-quoted options whereby users could trade without worrying about the risk of liquidation.

A statement from Huobi aimed to explain their success, citing the following: “The fact that Huobi Futures has achieved this success in just two years is largely due to its continuous efforts to launch innovative products that continuously enhance the user experience while ensuring that users can trade securely, consistently, and at a low cost.

This has a profound impact on two aspects for users. Since Huobi Futures started the operation in 2018, it has been able to provide users with a safe, stable and low-cost trading experience.”

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How Bitcoin Gamblers can benefit from current Bitcoin price rise

It all started in the December of 2017, when the whole world acknowledged Bitcoin to be the viable tool for investment. All this was due to the price of BTC hitting a +$17K tag. Since then there has been much criticism, attempts of derailment and various regulations to slow crypto revolution down. Although today, these attempts proved to be futile, because at this point, Bitcoin is yet again around the same price tag, and it’s universally considered to go even higher. Whether you’d like to invest in crypto or you’re considering Bitcoin Gambling, the indisputable fact is that everyone is primed to make massive profits by dealing with cryptocurrencies.

Bitcoin Investment

Around half a year ago, the price of a single Bitcoin was around 6,000 USD. Anyone who invested in BTC during that time is experiencing an insane +300% gain on their investment, because the price right now is almost $18K. Investment is an easy process, one just needs to seize the opportunity when it’s right in front of the eyes. All you have to do is visit the trusted crypto exchange website of your choice and convert FIAT into cryptocurrencies and wait for the right moment. It’s important to stay informed about the current events in the crypto industry to get the edge over everyone else.

BTC Gambling

Although it’s a controversial assumption, Bitcoin Gambling can really be a form of investment when it comes to cryptocurrencies. Just as with the stock exchange, you have to have a certain skill and a bit of luck to succeed, but it’s definitely highly possible to profit from BTC Gambling. At the end of the day, stock exchange and crypto trading is a form of gambling as well, although not as adrenaline driven and fun. Probably the best feeling in the world is making money while having fun, and that is exactly what the Bitcoin Gambling websites provide to their users. And the best part here is that your money accumulates in value while just sitting on your casino account, because as mentioned before, in 6 months the price of a single bitcoin rose by more than 300%.

What are the best Bitcoin Gambling sites?

Just as with the investment, it’s crucial to find the website that can be 100% trusted. The issue of trust is not exclusive to the internet, but it’s extremely important when dealing with large sums of money. It’s relatively easy to find the right BTC Gambling site for yourself if you consider checking out review websites like BitcoinGamblers, where you can get all the in-depth, detailed analyses of all pros and cons and various offers of different top dogs of the crypto gambling industry.

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Do you have to understand blockchain to play in Bitcoin Casino

Blockchain technology is considered to be the revolution in the world of IT and with each passing day that assumption solidifies itself as a hard fact. Although, in the beginning, when the first blockchain based cryptocurrency; Bitcoin started its journey, few could predict such heavy impact. Back then, the first trailblazers to fully adopt crypto and blockchain technology were the pioneering BTC Casinos such as FortuneJack. They predicted this astronomical rise and are to this day, providing best Bitcoin Casino entertainment to their communities of players. So, what is the Blockchain technology and why has it become synonymous with the Bitcoin Casinos all around the world?

How does the Blockchain System work?

First and foremost, Blockchain is the decentralized system that doesn’t have any central entity that controls or regulates it’s working process. Here, the users have control over everything and there is a collective infrastructure that creates this unique ecosystem that contains everything connected to cryptocurrencies. All transactions and operations are transparent, but nobody can ever decipher the users and their personal information. The first thing that blockchain associates to is the total freedom and maximum levels of speed and efficiency for the business. Any user of Blockchain technology is entitled to some heavy benefits, that are unprecedented for the rest of the financial world. So, how does Blockchain technology intertwine with the Bitcoin Casino industry?

Benefits of Blockchain technology for the Bitcoin Casino

There are several major issues that classic online casinos are suffering from, due to the usage of FIAT currencies and banks. This is where the BTC Casinos shine, because they eliminate all these problems, turning them into the advantages. First thing is speed. Where classic online gambling sites take days to complete the transactions, Bitcoin Casinos perform both deposits and withdrawals in the matter of minutes. Security is never the issue with BTC Casinos because of the fact that the Blockchain system is decentralized and almost impossible to hack. Aside from all this, there is another massive advantage that is unprecedented in the gambling industry.

Factor of Anonymity in BTC Casino and all things Blockchain.

As mentioned before, all operations on blockchain keep the actors completely anonymous and nobody will ever be able to decipher the personal information of the user. The same happens for the BTC Casino players. Thanks to the blockchain technology-based payment systems, Bitcoin Gamblers remain completely hidden to any unwanted attention. No bank, government or other financial institution will ever be able to track your operations or your ID, because that’s simply the way blockchain technology is designed. It is the ultimate tool of freedom.

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ETH/USD Technical Analysis: What can we Expect Next?

Ethereum, which was launched in 2015, is the second largest cryptocurrency after Bitcoin in terms of market capitalization. It was trading sideways for two years, at around $ 10, until 2017. That was the year of the “Gold Rush” for cryptocurrencies, and the ETH price started to increase in March. The ETH/USD had jumped to $ 50 by the end of that month, which meant a 500% increase. That was a sign that the market was changing, and a wave of buying was coming. We saw a retrace in July and September, but that year turned out to be extraordinary for digital currencies overall.

The double top pattern points to $ 650 for Ethereum

Ethereum surged to $ 1,425 by January 2018 and closed at $ 1,120. 2018 turned out to be the opposite of the previous year, as the Gold Rush ended and the crypto market started reversing back down. Although, that wasn’t a big surprise, given the extraordinary and sudden surge in 2017. The decline in 2018 was also quite straightforward, with 8 bearish monthly candlesticks. In the first half of 2019 and in January this year, buyers have tried to reverse the price higher, but they were short-lived both times, showing that the pressure remained to the downside for Ethereum, as highs were getting lower. We saw another attempt to the downside in March, when the coronavirus broke out in Europe, turning traders to the USD. But the support below $ 100 held once again, and since April, Ethereum has been increasing, getting pretty close to $ 500 in September.

With the two attempts at $ 80 to $ 90, and the consecutive failures to break below that level, we can see that a double bottom pattern has formed in the ETH/USD. The high in June last year came at $ 370, so the target from the top should be as big as the distance between the bottom and the top. That means that Ethereum should increase another $ 280 above $ 370, to $ 650, if the double bottom pattern is to work out. The price has moved above June’s high now, which was the high point of this pattern. That validates the pattern, so $ 650 is really the target now, and our Ethereum price prediction from the monthly chart analysis points to this level.

Ethereum Analysis Off the Weekly Chart – Third Time Lucky?

On the weekly chart, the price was finding solid support at the 20 SMA (gray) during the uptrend in 2017. Ethereum formed a resistance zone around $ 400, and buyers were finding it hard to push above that level. But the 20 SMA kept pushing the price higher, and eventually the resistance at 400 was broken. This level was quite important for Ethereum, since it turned into the ultimate support and resistance zone, as we will see further below in this Ethereum price prediction.

The next bullish leg should start soon

As we know, the ETH/USD surged to $ 425, where it remained until December that year, but then the reversal came and the price crashed lower. The 20 SMA held in the first attempt in the second week of February, despite being pierced, but it was eventually broken. However, the previous resistance zone at around $ 400 turned into support this time, and after a small doji candlestick above that level, we saw a retrace higher to $ 840. The price pushed above the 20 SMA briefly, but then reversed down and fell below all moving averages, until it reached $ 80 at the end of 2018. As we mentioned above, the ETH price increased during H1 of 2019, but the area around $ 400 turned into resistance again, with a bit of help from the 100 SMA (green). The price formed a doji here, which is a bearish reversing signal after the retrace higher, at which point the price turned lower.

The second upward retrace took place during Q4 of 2019, as the sentiment for cryptocurrencies improved, but the retrace ended after a doji candlestick at the top once again, just below $ 300. This time, the 200 SMA (purple) provided resistance. Both times, the stochastic indicator was oversold, also indicating a reversal down. This time though, the bullish move since the middle of March doesn’t look like a retrace. The price has moved above the $ 400 level and moving averages are now turning into support, suggesting that the pressure has turned to the upside for Ethereum. In the last few weeks, we have seen a consolidation at around $ 400, but the stochastic indicator is approaching the oversold area, and the moving averages are getting closer, so the Ethereum analysis tells us that the next bullish leg is expected in Ethereum soon, although it will also depend on the sentiment in the crypto market.

Ethereum Analysis Off the Daily Chart – Buyers are Back in Control

There’s a lot more noise on the daily time-frame chart and the volatility looks much higher in lower time-frame charts, although they still show the market behavior, and we can spot the trends. During 2019, the ETH price was trading in a range, which showed consolidation, although the bias was bearish, as highs were getting lower, but at least we were not seeing any new lows. Moving averages lost significance, as they were broken many times, but they helped indicate buying or selling opportunities, as the price was moving up or down in this consolidation period.

Ethereum is trying to break the 20 and 50 SMAs now

But now, it seems like the consolidation period has ended and buyers have come back onto the scene. The crash from the initial coronavirus panic ended pretty quickly and the price reversed higher, surging more than $ 150 until June, then a consolidation period followed. The bullish momentum retumed, lasting until September 1, taking the ETH price to $ 485, while now, according to the Elliott Wave Pattern, we are in another pullback/consolidation period, before the next bullish leg starts.

During the bullish move of the last few months, the 50 SMA (yellow) did a good job as support, pushing the price higher, and the 20 SMA also helped occasionally on the daily chart. The involvement of smaller moving averages, as support indicators, shows that the pace of the bullish trend was quite strong. So, the third bullish leg should start soon, and it might have already started, but the 20 and 50 SMAs are standing on top now, and they rejected the price initially. However, the price turned back to them pretty quickly, indicating buying pressure, so it will only be a matter of time before these moving averages break. Therefore, the price action in this time-frame also points up and the Ethereum analysis from this time-frame is $ 650 for several months ahead.

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The biggest crypto trends that shaped 2020

Crypto started off with a bang, but later in March, just like many other sectors, it started to fluctuate because of the COVID-19 crisis. Many skeptics expected Bitcoin to drop and for the pandemic to mark the beginning of the end for crypto, but things didn’t go that way. In fact. The drop of cryptocurrency and the drop of the stock market were only correlated for a short while, and Bitcoin’s drop was mainly a liquidity issue because, like gold, it was oversold. In reality, crypto made a quick recovery and even consolidated its role in the “new normal.” Experts estimate that COVID-19 will only normalize crypto payments and that, though unfortunate, it will accelerate the digital revolution. So far, 2020 was a good year for cryptocurrency, and we saw the advent of some exciting trends that will shape the market going forward.

Widespread adoption by institutional investors is by far the most notable one – banks are beginning to accept digital currencies and running pilots on wholesale payment systems. This year, six major central banks (England, Canada, Sweden, Japan, the European Central Bank, and the Bank of International Settlements) have joined a joint initiative to research the potential of cryptocurrencies. Apart from this major movement, other trends that stand out in 2020 include:

The cashless transition

The world was bound to become cashless eventually, but digital crypto payments could become the norm sooner than we think. To limit the spread of the novel Coronavirus, the World Health Organization recommended people to make contactless payments instead of cash payments, and concerns about hygiene were a pretty persuasive driver, even for skeptics. If we look at the official stats, we’ll see that the number of Blockchain wallets has been growing consistently, reaching over 50 million users at the end of June 2020, compared to 47% at the end of March. What was quite rare before the pandemic now becomes more acceptable among mainstream users, and the fact that institutions now encourage cryptocurrency made it obvious that this is not just another passing trend.

The cashless transition was also sped up by the fact that now more stores accept bitcoin as a valid payment method. During the pandemic, online retail experienced a massive boom, especially in categories such as groceries, electronics, and personal hygiene. At the same time, games and streaming services grew in popularity, and, as a result, crypto payments increased on their websites too. Even after the pandemic is over, most users who got used to crypto payments will likely continue to use them, and this will push more retailers to consider implementation.

Crypto Forex trading

For many years now, the worlds of traditional and alternative trading were separate. Either you traded Forex, or you traded crypto. The differences in mentality were also quite different: people who traded traditional currencies tended to be more conservative and risk-averse, while the ones who traded crypto were younger and more likely to invest in innovative technologies. Now, however, with crypto becoming a bigger part of the world of finance, Forex and crypto trading are no longer that far apart.

Many Forex brokers now allow account funding with Bitcoin and major cryptocurrencies such as Ethereum, Tether, Litecoin, Dashcoin usually in combination with fiat currencies. So, instead of training in pairs like EUR/USD or GBP/USD, you can now trade pairs like BTC/USD or LTC/USD. This has added a new dimension to currency trading, and more and more people are beginning to use their digital currencies on the Forex market. Among the biggest benefits of trading Forex with Bitcoin is that digital currencies are decentralized, so they aren’t influenced by inflation and interest rates. In addition, Forex brokers usually offer high leverage to crypto traders, which is a big plus for veterans. Other reasons why more people have started to trade pairs like BTC/USD include:

  • Lower costs of trading and low deposit amounts: this is especially tempting for beginners
  • Financial security: when trading crypto, you don’t need to reveal your bank account
  • More freedom: when trading crypto you have fewer geographical boundaries than when you are trading fiat currencies

Of course, like regular trading, crypto Forex trading involves a certain degree of risk too, especially for beginners, but the fact that so many people have decided to try it goes to show that cryptocurrencies have had a major impact on the trading world.

Interfaces that appeal to mainstream users

In its early days, cryptocurrency was a niche investment for a certain “geeky” market. The people who had bought Bitcoins were the people who mined them themselves, knew someone who did, or liked investing in anything new, tech-related, that showed promise.

Over the years, crypto has slowly transitioned from being a niche investment to a less obscure one, and, in 2020, it has almost become mainstream. If they don’t own crypto themselves, people know someone who does, and how digital currencies work in general. To appeal to this growing mass of mainstream users, crypto services have made interfaces more appealing and easier to use, so that you don’t need to mine Bitcoin or be a crypto expert to get around them.

The rise of decentralized finance (DeFi)

Although cryptocurrencies are thought to be the highlight, decentralized finance (DeFi) has been picking up steam since the end of 2019, and in 2020 it reached new heights. In the past month alone, the total value locked in DeFi surpassed $4 billion. Generally based on Ethereum, decentralized finance consists of a wide range of financial services (lending apps, dex platforms, derivatives, stablecoins, etc.) that do not rely on a central authority.

DeFi applications have a flexible user experience and, in general, they aim to be simpler alternatives to traditional financial services, because there are no gatekeepers. For example, loans can be negotiated directly between two parties from different parts of the world, without a bank having to intervene. Other applications of DeFi apps include exchanging assets and implementing advanced trading strategies.

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Bitcoin Could Change the Global Financial System, Right When We Need It the Most

In the face of necessary change, bitcoin and blockchain could reasonably supply the much-needed compromise between what is, and what could be.

In the wake of current events, the majority of the global population has been given a choice. A chance to reset many of the systems that have been irrefutably shown to fail. While it’s not necessary to fully condemn present systems of governance, finance, and social constructs- it is important to accept their failings and ask for something better.

Given the unprecedented glimpse into the more intimate and intricate shortcomings of existing systems, we have also been shown an idea of best practice moving forward. As countries and their individual populations have banded together in both macro and micro scales of economy and society, we have been shown that working together seamlessly can produce favorable results. While it may sound trite- we’ve been shown that teamwork does indeed make the dream work.

In light of the novel coronavirus, we’ve been shown that those countries that have worked closely with their own citizens and the citizens of the world at large have fared best- while others that have shut themselves off to both the failings and triumphs of others have seen near total devastation. Particularly in the latter, we’ve seen a surge of new users and renewed interest in cryptocurrencies. As new users flock to exchange platforms like Bitvavo, hoping for a helping hand in understanding an alternative for the economies that are failing them. While seasoned investors continue to proselytize the brilliance of decentralized finance.

Failings of a Legacy System

Perhaps the biggest problem with the legacy financial system is how prone it is to manipulation. From lending bias to inflationary practices, our current financial system is clearly broken. Much of this manipulative practice comes from the idea of centralization. They will always be a human element behind any decisions made in our current financial system, and humans are… well, human. They’re prone to error, greed, and emotional bias.

Building a system of finance based on an individual human ethos is bound to spell disaster to someone. Discriminatory practices based on income, race, religion, or any number of other factors happen every day, even if we don’t actually intend them to. As each person has inherent bias, it’s nearly impossible for us to be purely objective.  This is where cryptocurrencies like bitcoin step in. These digital tokens, coupled with DeFi systems can realistically create a beneficial parallel to the system we currently have. Mimicking many of the processes that fit nicely, but completely removing the human element, opting for something far more objective.

Something Borrowed, Something New

Coupling computer technology with existing structures could be a way to efficiently transition into a decentralized, digital, cashless society. While the term may raise hairs for some, cashless is coming- whether we want it to or not. Largely, those in opposition to the idea, are really opposed to centralized power structures; and in our opinion, rightly so.

The idea of a centralized cashless society does indeed come with a fierce amount of overarching governmental control, with many left behind. Among those being the unbanked, underfunded, and largely forgotten members of our respective societies that already feel the alienating pressure of our monetary systems. Centralized cashless would only serve to bolster those positions.

Despite a decentralized financial network seeming like the optimum compromise between what we have now, and what we need for the future- it may not be so simple to implement. There is still concern that decentralized networks can shift towards more centralized paradigms should key players interact irresponsibly. Think of the whales of bitcoin, and the influence they’ve been said to have. Or consider the bitcoin mining process, in which the majority of mining practitioners could realistically be held by one or two large conglomerates, essentially dissolving a decentralized structure.

While both bitcoin and other cryptocurrency networks, and the DeFi systems that are currently being built are doing everything within their ability to create systems that are free from centralized influence, it’s still a difficult balance to maintain. Should one or two large stake holders decide to irresponsibly weird power, the decentralized infrastructure could topple. In order to endure a truly decentralized system, it has to be something built with ubiquitous adoption and support.

Securing a New Ethos in a Familiar System

This total support starts with an appreciation and support for decentralized networks. Something that is a common and base goal among all investors, operators, and service providers. Just as investors of all creeds and income brackets will require equal opportunity to buy in, network operators will have to ensure that there are a wide range of open source participatory and regulatory systems. Meaning that every investor holds the same amount of sway over how the network itself operates.

These systems are in existence today, and are continuing to be built and refined. Security and participation tactics are something that are constantly being scrutinized and cultivated to provide a better working system for all. Service providers must also help ensure this purely democratic infrastructure, either by integrating more AI and cryptographic technologies, or opening up their own network structures to the user supported functionality. DApps and Smart Contracts are excellent adjuncts to centralized power structures.

In reality, many of the necessary technologies needed to support a democratically decentralized financial network already exist. Ensure their longevity, accessibility, and security are aspects that are constantly being considered. With a continued curiosity and support for a decentralized global network of finance, we can build ourselves a better future- one that is controlled not by the few, but by all.

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The Upfiring Dapp: Full-Scale Project Launch, Upfiring 1.2.2 Dapp Release & Upcoming Events for 2020

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With Upfiring 1.2.2, seamless decentralized P2P file-sharing is now possible on the Ethereum blockchain. With our product ready for user adoption, the project’s focus will be shifting towards towards community growth and marketing for the second half of 2020.

Upfiring 1.2.2 Release — August 24th, 2020

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Important Link Updates:

  • ufr.chat links to our forums, which have been relaunched and will be further updated this week
  • upfiring.com homepage will be updated this week with new links/information as well

Marketing

  • Upcoming AMAS
  • Influencer Marketing
  • The Upfiring Blog, Press Releases, & SEO campaign
  • Expansion of the Upfiring Dapp Documentation
  • File-Sharing website outreach
  • Community-run marketing group and community contributions
  • Paid advertisements

EVENTS

Upfiring Dapp Stress Tests (3)

Stress Test 1: 500 UFR Total — Sunday, September 20th, 2020 at 5 PM EST

  • We will decrypt the files one by one, rewarding all participating seeders with a share of the UFR equal to 100/# of seeders for each file

Stress Test 2: 2,000 UFR Total — Sunday, October 4th, 2020 at 5 PM EST

  • 10 .ufr files, each worth 150–250 UFR, will be created by our team and distributed via our social media pages one week prior to the stress test (September 27th to October 4th)
  • Files will be decrypted as with Stress Test 1

Stress Test 3: 5,000 UFR Total — Sunday, October 18th, 2020 at 5 PM EST


Upfiring’s Upcoming AMAS (Ask-Me-Anything) & Appearances

  • GosuTV, Korean audience — set for Wednesday, September 9th at 9 PM EST
  • TheGemHunters, a 2500+ Telegram group — set for Sunday, September 20th at 2 PM EST
  • @cryptowindonesia, an Indonesian audience of over 7500+ people, translator will be used — date pending

In addition, we plan to appear on several Influencer’s Channels in September and October including:

  • CryptoWendy (date set)
  • Several other major appearances are set, and we cannot disclose them until the air date!

The Upfiring Blog, Press Releases, and SEO campaign

The Upfiring Blog, to be located as a subset of the upfiring.com website, will be a major contributor to the growth and promotion of Upfiring. We will be publishing content dealing with issues surrounding file-sharing, file storage, decentralization, and various other relevant topics to our project.

In addition, the dapp’s documentation will be improved to include more important information for new users, such as several potential use cases for Upfiring and how to maximize usage and earnings as a content creator.

File-Sharing Website Outreach

We will also be spending time over the next few weeks reaching out to existing file-sharing websites to help them integrate .ufr files into their sites.


Community-run marketing groups and community contributions


Development

Upfiring Dapp Uniswap Integration

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Preliminary model of Uniswap integration into the Upfiring dapp

Funding your Upfiring wallet, obtaining UFR to use within the dapp, or converting your UFR earnings to Ethereum/other tokens is going to become a smooth experience that users will be able to do using their Upfiring wallet in the dapp. In another effort to further decentralize the dapp and remove the power that centralized exchanges have over this project, Uniswap (a decentralized exchange) will be integrated directly into the dappThis is another huge step towards the immutability of the Upfiring network — if the Uniswap.org website goes down for any reason, you will still be able to use the smart contracts within the Upfiring dapp to convert to and from UFR with 100% uptime.


The Upfiring Blockchain — moving to our own smart contract network with a bridge to the Ethereum network


Upfiring Web Browser Dapp


This is an exciting time for this project. We have a ton of events planned in the coming months and would love to have you, the reader, join our communities and be a part of our project’s growth. You can get UFR on Uniswap here. Check out our social media pages: TelegramUpfiring ForumsRedditTwitterBitcointalk, and Discord as we continue our mission to change the future of P2P file-sharing.

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