A Blockchain technology advocate, Gavin Wood (former ETHEREUM Chief Technology Officer) and founder of Parity Technologies teamed up with MELONPORT AG (Switzerland), which builds multi-chain software for asset management. This software supports Interoperability among various blockchains with verifications of identity attributes. Its initial application is for crypto-currency portfolios.
MELON software is the first app for POLKADOT, a multi-chain system, which maintains this compatibility among Blockchains with distinct properties. This includes ciphered or coded proof of Authority chains appropriate for enterprise communications’ system that conforms to required specifications.
Polkadot is considered a scalable and diverse multi-chain. This means it was designed in such a way that it has no capacity to provide any natural application functionality. On the contrary, previous Blockchain execution focused on introducing one chain of changeable degrees of generalization above prospective applications.
Polkadot is thought of equal to a group of independent chains like the set which contains Bitcoin, Name Coin, Ethereum, and Ethereum Classic. The only exceptions are pooled security and trust-free, inter-chain transactions. These are points which allegedly make Polkadot scalable. The application ensures a fundamental part of infrastructure leaving the difficulty to be addressed at the middleware (software that links clients and databases) level. There is a goal of reducing development risk which allows the required software to be created immediately and securely.
Creators of MelonPort are Reto Tinkler and Mona El Isa. Reto is a mathematician who developed an algorithm (profit-oriented) designed for betting. Melon was envisioned as an open and mutual effort. It was configured so developers can obtain the benefits as well as ensure proof development in the future. The bottom line is to produce the very first Blockchain process and software for the cost-efficient deployment, operation, maintenance, and disposal of assets.
Concentration on Crypto Investing
The Melon software ensures easy and protected access for portfolio management as well as investment purposes. This can be compared to the concept of hedge funds. The rule drives particular elements into folders like calculation of performance and trade controls. A flexible component provides space for opinion regarding exchanges, management fees and sources of price feeds.
Said software is ideal for potential users of crypto portfolios because of the transparency feature and reasonable cost. It is a type of protocol allowing users to invest and exchange in portfolios. MELONPORT AG will make possible pre-sale of Melon tokens and accept Ether contributions. According to Gavin Wood, this next generation platform combines open and enterprise chains.
Investing in any digital currency entails an extraordinary level of continuous research and analytical process. These crypto-currencies are new to the digital environment which is risky for uneducated investors. Bitcoin data can be accessed easily making it the most feasible option after making the proper background checks.
How does one invest in the crypto currency and guard against risks or possible scams? It is important to understand the currency and how it works. Smart investors will review the aspects of transparency or intelligibility; regular audits; public information dissemination conducted judiciously; retention of records; and, relevant Anti-Money Laundering laws. These will help you avoid fraud and the pain of losing hard-earned money. Investors must take time to understand the crypto-currency pair as well for purposes of profitability.
Asset Management
Seven years ago, nobody ever imagined that Bitcoin or any other crypto-currency would have something to do with asset management. Things have changed since then because the digital currency is now a primary product for investment.
There is widespread belief the Blockchain platform will eventually become an essential component of asset management functions. Research reports predicted that around 64 percent of the usual asset managers will use distributed ledgers within the next five years. MelonPort co-founder El Isa said the partnership with Parity will be complementary. Blockchain, the technology for transaction database that supports Bitcoin, was adopted by numerous investment firms and wealth managers globally. In short, more enterprises realized the potential of Blockchain to shape the financial services industry.
Even the World Economic Forum made the projection that once decade from now, assets corresponding to 10% of international Gross Domestic Product (GDP) may be kept on a Blockchain system. Unfortunately, the costs of employ newer technologies such as social media, mobile apps, analytics, and blockchain will be too expensive for start-ups and small businesses.
Additional research disclosed that the union of economic, consumer, statistical, and technological movements will transform asset management considerably by 2021. Customer expectations will be reformed while traditional business models will be disrupted. The new realities call for investors propelling sweeping digital makeover or be confronted with extermination by competitors.
Powerful technologies can distinguish customer experience and bring certain companies ahead of their counterparts in the digital technology competition. Some of these technologies are Artificial Intelligence; Virtual Reality; Sentiment Analysis; Web Analytics; Web Collaboration Tools; Tele-Presence; and, Blockchain.
Blockchain Simplifies Tasks
The Blockchain platform is capable of shortening tasks of selling, purchasing, transferring assets, and recording ownership. Users can transact on their own or through wealth management providers. Growing interest in the technology escalated among financial services corporations during the last few years. In 2014, there was no asset management firm or banking institution that publicly declared its attraction to Blockchain. Yet, this notion changed after one year.
According to published reports, this outlook agrees with research based on the following:
- Quantitative analysis of some 2, 000 investors as well as 500 wealth companies across 10 global marketplaces.
- Economic modeling and forecasting that involved 25 economies.
- Expert views from over 40 market leaders, investment specialists, economists, and technology experts.
The reported stated 45 percent of providers claimed studying the Blockchain while more than 60 percent were prepared to expand their functions in five years. At this point, Disintermediation took place which included the Ethereum Decentralized Autonomous Organization’s usage of its own Blockchain platform to implement Crowdfunding Initial Public Offering. The IPO increased an equivalent of over $160 million in just one quarter.
Disintermediation refers to the withdrawal of money from financial institutions that serve as liaison agents like banks and loan institutions. This is the process of taking away brokers from future transactions. Disintermediation is performed to invest in instruments that can possibly bring in higher profits.
Future of Crypto-Currencies
Crypto-Currencies are on the threshold of becoming conventional. As a result, bureaucracies from all over the world are expected to formulate new legislations that can pave the way for Bitcoin and other digital currencies to become centralized. This can lead to the currency’s stability with the value easily determined. It is natural for demand to go up as more and more enterprises see the prospects in digital currencies. Nonetheless, there are contradictory projections that crypto-currency transactions will be reduced drastically because of regulatory and safety concerns.
In a nutshell, crypto-currencies facilitate the convergence of individuals worldwide and agree on ways of creating money without the need for central authorities. The downside is many people have already lost money because of crypto currencies. Yet, Bitcoin along with other digital currencies have a brighter future. Besides, it is fast becoming a new medium of engaging in trade. Of course, the value may not be sustainable at all times.
The crypto-currency remains in its formative years. The number of business owners and corporations is growing but this number is not significant enough to make an impact. Demand may not even be adequate for legitimate commerce. In short, purchase of crypto-currencies can be considered more of speculation rather than reliable investments unless users plan to stockpile them for many years until these become everywhere. Another choice is to spend the currency right away.
What is the status of crypto-currencies at the moment? The price is at risk to the quirks of new speculators or traders who have been in the market for some time and are simply awaiting the opportunity to get out. These cause the markets to go up and down abruptly. Some experts say that speculating on Bitcoin (for example) is more of a “zero-sum” game. This does not mean user cannot make money in the long-term but users will get stuck somewhere.
The key is to exercise extreme caution. Refrain from placing your entire savings on digital currencies. See to it that you make conservative investments. Leave some of your money in the usual cash form. This is an assurance that investors can earn based on ups and downs of the market.
Security is the final element. Be careful about scams and hackers. One way of achieving this is to use secure software for Bitcoin wallets. Some of these wallets are CoinBase and Warp Wallet. CoinBase is the most popular method of buying and selling the Bitcoin and Ethereum.
Never trust digital currency exchanges without any highly regarded names that support them. Choose and use strong passwords that cannot be guessed or deciphered easily. Last but not least make use of the two-factor authentication process if possible. This type of verification is a technique of logging into sites that call for than just the simple password.
All the news about Crypto Investing and this unique software that created multiple Blockchains are some of the most interesting developments governing this technology at this present day and age.