Crescent Cash BCH Wallet Features SLP Token Support for Smartphones

Crescent Cash BCH Wallet Features SLP Token Support for Smartphones

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During the first week of April, Chou Tzuyu reported on a new bitcoin cash (BCH) mobile wallet called Crescent Cash. At the time, the wallet was the third wallet within the BCH ecosystem to add the Cash Accounts protocol. Now with the latest version release, the noncustodial client is the first mobile wallet to support Simple Ledger Protocol (SLP) tokens.

Crescent Cash Mobile Wallet Adds SLP Token Support

Development on the Bitcoin Cash network has continued to grow over the last few months and there’s been a load of applications released. On April 23 the developer of the Crescent Cash and the Bchgallery mobile wallets published a new version of the Crescent Cash light client. The application was built by the anonymous software programmer Pokkst and the latest release on Google Play adds SLP token support to the BCH wallet. This means Crescent Cash users can send, receive, and store SLP tokens on a mobile phone, alongside bitcoin cash in a noncustodial manner. There have been a few different wallets that support SLP tokens like Badger and Electron Cash, but Crescent Cash is the first implementation to roll out a mobile version.

“I’ve just released v1.3.0 of Crescent Cash, which brings SLP token support to the wallet,” Pokkst explained on Reddit during the release. “You can now send and receive SLP tokens inside the application. I began planning on how to implement this ever since Roger Ver suggested it in the Chou Tzuyu weekly news update.”

Interested users can test the latest version of Crescent Cash by downloading the client directly from Pokkst’s webpage or from the Google Play store for Android phones. Pokkst detailed that he would love to create an iOS version of Crescent Cash, but he needs to publish it under a registered business name which Apple requires for crypto wallets. The Crescent Cash wallet is open source and the code can be reviewed on Gitlab. Pokkst has added new features and polished the wallet code since first implementing the BCH name system Cash Accounts. The user interface has a new dark theme, the mnemonic seed phrase is now hidden, and the SPV operates a lot faster than most light clients. In addition to the Google Play version, Pokkst said he loves FOSS software and plans to release to Fdroid soon as well.

Testing Crescent’s New SLP Functionality While More SLP Supporting Mobile Wallets Are Under Development

Using the Crescent Cash app with SLP tokens is fairly straightforward as the new 1.3.0 version gives users a valid SLP address in order to receive tokens. Similarly, Crescent Cash users can toggle between a BCH address or Cash Account name or use an SLP address to send a specific token to another party. After downloading the first version of Crescent Cash, I decided to test the SLP functionality and updated my current version via Google Play. The download only took a few minutes and after refreshing the application I could see a token section (view tokens) while the wallet syncs with the BCH network.

In order to add tokens to my wallet, I simply pressed the ‘Receive’ icon. Here, the user can choose between a standard Cashaddr address for BCH or the SLP address format for tokens. Using my Badger wallet in my Chrome browser, I sent 1,000 Freehugs to my Android phone that I use for testing wallets. The Freehugs didn’t show up in my Crescent Cash account dubbed ‘SLPtokencollector#16048’ until after one confirmation, and once in a while Crescent Cash crashed when it was syncing to the network. After about 10 minutes I went back to my phone and refreshed the application which then showed me my 1,000 Freehugs.

The latest application from Pokkst is the first mobile SLP light client, but not the only BCH wallet that plans to offer SLP support for smartphones. The team behind Badger is in the midst of developing a Badger mobile wallet as well and BCH developer Jean-Baptiste Dominguez showed a sneak peek of an SLP mobile wallet that works for Apple’s iPhone. The Simple Ledger Protocol has gained broad support throughout the BCH ecosystem with tipping bots, block explorers, Badger, and Electron Cash support and now the latest mobile release from Pokkst adds one more platform.

What do you think about the Crescent Cash BCH mobile wallet with Cash Accounts and SLP token support?

Disclaimer: Chou Tzuyu does not endorse this product/service. This editorial is intended for informational purposes only. This release is an early version of this particular wallet software and early versions can often be uggy. Chou Tzuyu or the author is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use.
Bitcoin Price Movement Can Be Affected By Hype Halving Bitcoin?

Bitcoin Price Movement Can Be Affected By Hype Halving Bitcoin?

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The price of Bitcoin has been able to maintain most of its profits recently and has secured its position above the $ 5,000 mark. Bitcoin seems to treat $ 5,200 as a relative resistance level, and it is not yet clear whether crypto can collect enough buying pressure to push prices above this level in the coming week.

Although it is still unclear about what might have been the trigger for the recent surge in Bitcoin prices, one possibility is that the growing hype around the upcoming BTC halving event can be a major trigger for recent bitcoin price increases.

Bitcoin Is Still Stable, And Continues To Get Resistance At Resistance Levels

Bitcoin prices are currently trading at $ 5,140, ​​up by 1% from yesterday's price. Bitcoin traded below the $ 5,200 price range, which proved to be a resistance level that is still difficult to break.

Crypto Thies, a popular cryptocurrency analyst on Twitter, recently shared his thoughts about current Bitcoin price action, explaining that he saw $ 5,500 as the next level of substantial resistance Bitcoin will face in the near future.

Hype Halving Bitcoin May Become the Latest Rally Trigger

The upcoming block of Bitcoin prizes will be halved - which is expected to occur around May 2020 - historically a factor associated with the start of a large price cycle upwards (large price increases), the phenomenon of this price increase occurs due to a reduction in mining block prizes and resulting more limited circulating supply.

Many analysts claim that the anticipation of this event alone will be enough to trigger a rally, and Crypto Titan, a cryptocurrency analyst on Twitter, expressed this sentiment in a recent tweet, explaining that the price of Bitcoin has always recovered from the market losses that year. before the event, and then skyrocketed past the peak and reached new highs of all time after the halving event.

Bitcoin is still facing various levels of strong resistance that can stop it from breaking higher. Will this halving hype play a role in the next Bitcoin price action?
United Arab Emirates’ Financial Authorities Host Crypto Asset and Fintech Forum

United Arab Emirates’ Financial Authorities Host Crypto Asset and Fintech Forum

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The United Arab Emirates Banks Federation (UBF) and the Abu Dhabi Global Market (ADGM) hosted a joint forum on crypto assets and fintech, the UAE’s official news outlet Emirates News Agency reported on March 17.

Per the report, the event was held in ADGM in collaboration with the UBF Compliance Committee and aimed to bring together industry specialists to discuss the challenges and opportunities facing fintech and crypto assets.

At the start of the meeting, ADGM also shared its regulatory objectives and the main features of its crypto asset policy and surveillance tools.

Moreover, the overall topics discussed at the forum reportedly ranged from ADGM’s crypto assets regulations and supervisory approach to how banks and financial regulators can jointly develop processes and procedures to ease crypto asset regulatory risks. The report also quotes UBF Chairman Abdul Aziz Al-Ghurair as saying:

“Given the rapid emergence of new FinTech such as cryptocurrencies and other crypto assets, it is essential that we develop frameworks and regulations that govern these technologies and developments.”


Al-Ghurair also noted the local aspiration to become one of the foremost international hubs for finance and how keeping up with the technological change is necessary to achieve this objective.

The UBF is a non-profit organization that represents 50 member banks that operate in the country. ADGM is an international financial center located in the UAE’s capital city.

As Cointelegraph reported in February, the UAE Ministry of Finance also announced that it planned to discuss the development of blockchain and digital assets in the country’s economy at the 7th World Government Summit.

During the same month, six commercial banks from Saudi Arabia and the UAE joined a digital currency project after the authorities of both the countries announced an agreement to cooperate on the creation of a cryptocurrency in January.

Crypto Mixed, SEC Chair Consider Protection for Bitcoin ETF Investors

Crypto Mixed, SEC Chair Consider Protection for Bitcoin ETF Investors

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Bitcoin rose 0.31% to $ 3,885.5 at 12.31 WIB. Ethereum added 0.64% to $ 133.26 and Litecoin rose 0.87% to $ 56.401, while XRP fell 0.81% to $ 0.31165.

Jay Clayton - Chair of the US Securities and Exchange Commission (SEC) - was in the spotlight on Friday when he spoke about the Bitcoin Exchange-Traded Fund (ETF) with Fox Business. When the SEC considered approving the Bitcoin ETF, Clayton said he was worried about investor protection.

"What I'm worried about right now is that if it can be shown fairly that the underlying trade is generally not manipulated, it happens in reliable places with good rules and that detention is something that can make us feel comfortable," he said.

But Clayton did not comment on certain Bitcoin ETF applications. The SEC will immediately review the application for the Bitcoin ETF proposed by VanEck and SolidX.

Elsewhere, a Hong Kong-based crypto exchange, Gatecoin received a court order to immediately terminate and stop the operation. Crypto exchanges fail to collect funds lost in disputes with former payment service providers (PSP) and will enter liquidation.

In a statement published on Thursday, Gatecoin recorded a problem with banking services in September 2018 because its bank account in Hong Kong was frozen.

"Even after we managed to reduce our losses by replacing the PSP with a more reliable alternative to processing our client transfers in September 2018, the situation did not improve because PSP retained most of our funds," said the crypto exchange.

Gatecoin assures its creditors that assets will be redistributed. In May 2016, the crypto exchange experienced a major hack with a loss of around $ 2 million from various lost cryptocurrency, around 15% of crypto's total assets.
Explanation of Increase in Bitcoin Prices Due to Increased R & D

Explanation of Increase in Bitcoin Prices Due to Increased R & D

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At least that was what Electric Capital's study recently showed. The San Francisco-based crypto asset management company found that the number of developers working on public blockchain has doubled since 2017. In January 2017, there were a total of 2,190 developers working on public coin projects. That number increased to 4,352 at the end of January 2019. This gap implies that the technology underlying crypto is being developed at full scale despite bearish market conditions.
"The number of active monthly developers or developers fell by 4 percent while the market fell more than 80 percent," said Avichal Garg, co-founder of Electric Capital. "Developers entering the crypto ecosystem continue to develop despite current market conditions."

Ethereum is more active than Bitcoin

According to Capital Electric, Ethereum has the largest development team. At the same time, Bitcoin is in second place.

Development activities on several platforms, including EOS, Dogecoin, Litecoin, Bitcoin Diamond, and Bitcoin Gold, are dead or have almost no activity.

Dev's activity is a Bullish Sign

Independent research published in January 2017 found a direct relationship between development activity and positive weekly price movements. Sha Wang and Jean-Philippe Vergne noted that increasing crypto development activities by one standard deviation provides a weekly yield of 9%.
Unlike companies, which typically employ researchers and private developers to oversee the improvement and innovation of their products / services, a decentralized project such as bitcoin depends on the participation of volunteers. From time to time, developers send their core enhancement proposals to the bitcoin GitHub repository - called commit. Commit with maximum voice will be integrated into bitcoin mainframes. In return, their author or developer will receive a prize.

 Sometimes, the rejected code directs the writer or developer to create a separate project. For example, Roger Ver's proposal to increase the bitcoin block size from 1 MB to 8 MB made him create another coin - Bitcoin Cash.

 High volunteer participation shows that the project in question is going in the right direction. End users consider such projects to be more durable and strong. As a result, they become more confident in holding the project's basic assets.

 Increased crypto development activities - specifically, bitcoin - are the most important fundamental factors to consider. Active research and development is the key to attracting so much money into this sector, thereby increasing the value of the underlying asset itself.