Product Update — New Currencies to Trade in Bitcoin Suisse Online
We continuously strive to increase the breath and scope of our service offering in order to make crypto assets more accessible. Therefore, we have now onboarded the following six currencies on to our 24/7 servicing platform Bitcoin Suisse Online for them to be traded at your convenience. Cosmos, OmiseGo, Dogecoin, DigiByte and Aeternity are briefly outlined below:
Cosmos
Comparable to Polkadot, Cosmos is a multi-chain framework which aims to offer more interoperability across different blockchain platforms. Some claim that while scalability is the next hurdle to tackle in blockchain technology, interoperability will be the challenge thereafter. Some use cases that are aimed to be addressed by Cosmos are: the facilitation of distributed exchanges, bridging different cryptocurrencies, providing scaling potential to the Ethereum chain, and more. (Read the Cosmos Whitepaper here.) The token, which is used to govern Cosmos, carries the name “Atom” and allows its holders to vote, validate or delegate to other validators. At the same time, it is used to reward validators and like Ether is needed to pay for transactions.
OmiseGo
The Ethereum-based proof-of-stake platform was established as an independent extension of the Southeast-Asian payment solutions provider “Omise”. The OmiseGo protocol has raised USD 25 million in its ICO in 2017, which was facilitated by Bitcoin Suisse (click here to receive an overview of all ICOs facilitated by Bitcoin Suisse). OmiseGo has since been building the core components of its network to decentralize payments and to create an open, public financial system. The main technical components of OmiseGo are the white label wallet SDK, its decentralized exchange “ODEX” and the Ethereum based Plasma implementation. To power the validation and transaction process inside the OmiseGo network, the OMG token is set up according to the ERC-20 standard and runs on the inter-related Ethereum blockchain. For further details, click here for OmiseGo’s whitepaper published in 2017.
Dogecoin
Starting out as a satire coin meant to undermine the prevailing cryptocurrency bull run back in 2013, Dogecoin managed to mature considerably, being listed in place number 30 of all cryptocurrencies according to their market cap at the time of writing. Having been created as a hard fork from Luckycoin, which itself was a fork from Litecoin, it shares a notable amount of characteristics with Litecoin and has an even shorter block time which is convenient for making transactions. The friendly appearance of its mascot, the Japanese Shiba Inu, makes Dogecoin a major attraction for everyone new to the world of crypto assets.
DigiByte
Following Ethereum’s multi-layer approach, DigiByte consists of a core protocol layer, followed by a digital asset layer and decentralized applications layer. This makes it arguably, like Ethereum, easier to be used for programming purposes. At the same time, DigiByte is following a proof-of-work approach utilizing 5 different mining algorithms to reach consensus, making it resistant to ASIC mining. While there was no public ICO recorded for DigiByte, a private investment financing round was held for the project in December 2014. While DigiByte is being built for the use cases of various industries, it has recently grown in adoption in the video games and entertainment sector.
Aeternity
Aeternity is aiming to build a blockchain system that allows for global scalability, transparent governance and unseen efficiency. The targeted use cases are once again vast, some suggestions provided on aeternity.com span from information markets, on to decentralized finance, crowdfunding projects, trustless exchanges, and up to micro & nano payments. In order to power Aeternity’s unique blockchain implementation, the technology of state channels is applied, where transactions can take place off-chain and are automatically settled via smart contracts on-chain in case of any disputes. Other notable technologies which are utilized by Aeternity are decentralized oracles and a hybrid PoW- and PoS consensus algorithm providing for a governance mechanism where both miners and value-holders participate in the decision making.
While our team has enabled the mentioned currencies to be traded on our Bitcoin Suisse Online system, we are already working on the next currencies to be on-boarded. You may find a full list of our currently tradeable currencies here.
