Top stories in the Crypto Roundup:

• Samsung’s cryptocurrency wallet adds support for Bitcoin and Klaytn blockchain networks.
• Mark Cuban-owned NBA team the Dallas Mavericks to accept bitcoin as a method of payment.
• Veteran venture capitalist Fred Wilson explains how USV sees the crypto market evolving over time.

For the first time since July 31, the BTC/USD pair broke below the psychologically significant $10,000-mark. The 100-day exponential moving average (EMA) of $9,500. March 27 was the last time BTC/USD was below the 100-day.

At time of writing, bitcoin (BTC) is trading at $9,684.2 (–8.6%) with a daily volume of $802.0 mn while ether (ETH) is trading at $181.1 (–12.9%) with a daily volume of $109.8 mn. As for the MVIS CryptoCompare Digital Assets 10 Index, it is currently tracking at 3,206.9 (–7.1%).

Samsung’s Cryptocurrency Wallet Adds Bitcoin, Klaytn Support

South Korean electronics manufacturing giant Samsung has quietly added support for Bitcoin and Klaytn to its online decentralized application (dApp) store, Blockchain Keystore. Support is limited to the following Samsung devices: Galaxy S10e, S10, S10+, S10 5G, Note10, and the Note10+. 

Klaytn is a blockchain being developed by Ground X, a blockchain development subsidiary of messaging giant Kakao. Samsung’s Blockchain Keystore already supported Ethereum and ERC20-compliant tokens, prior to this most recent addition of Bitcoin and Klaytn support.

Mark Cuban-Owned Dallas Mavericks to Accept Bitcoin as Payment

National Basketball Association (NBA) team the Dallas Mavericks announced Tuesday that “fans now can use the [bitcoin] cryptocurrency for purchasing tickets and merchandising online.” The news makes Dallas the second-ever NBA team to support bitcoin as a payment method after the Sacramento Kings did so in January 2014.

Making the announcement possible was world-leading bitcoin payment processor BitPay, who have partnered up with Dallas to allow it to accept bitcoin for ticket sales and merchandise.

“We want our fans who would like to pay with [b]itcoin the opportunity to do so,” Dallas Mavericks owner and billionaire entrepreneur Mark Cuban stated in Tuesday’s announcement. “BitPay allows our global gans to seamlessly make purchases with the [Mavericks].”

USV’s Fred Wilson: ‘Open Finance First, Open Data Second’

Prominent venture capitalist and Union Square Ventures (USV) co-founder Fred Wilson devoted his daily AVC blog post to share how USV is approaching crypto investing. Referring to a slide from a deck prepared by fellow USV partner Nick Grossman, Wilson wrote:

“We have already seen an explosion of assets issued on blockchains and a number of very large and profitable custody/brokerage/exchange businesses built. We expect we will see continued innovation in the open finance (finance 2.0) sector in the next few years while the open data (web 3.0) sector will take longer to develop.”

“We also think that open finance will inevitably lead to open data as users (both consumers and businesses) will start to understand and appreciate the benefits of increased user control, lower transaction (and other) costs, and other benefits of decentralization,” the veteran venture capitalist further stated in his August 13 post.

USV counts Coinbase, Dapper Labs, Algorand, Polychain Capital, Protocol Labs, and Numerai among its cryptocurrency– and blockchain–related portfolio companies.

BetMatch - Transparent Betting on the Blockchain

Most of today’s crypto betting platforms face the same problems – lack of transparency, geographical payment limitations, delayed or canceled pay-outs, and lack of trust in the site owners.

But by implementing blockchain technology, betting platforms can break this cycle of mistrust and create a new standard for online betting.

BetMatch is a decentralized betting platform whose top priority is fraud protection and bookmaker’s activity transparency. BetMatch combined a classical business model based on traditional betting with a social betting network and built their platform from the ground up using blockchain technology.

Their architecture offers several features that help create a transparent betting system, such as: 

• The elimination of the human factor and third-party influence on bet processing, results displaying, and winnings pay-out;
• Cryptocurrency-only bets, eliminating fees on transactions and huge charges on the winnings;
• “Bookmaker’s guarantee” is replaced with “smart-contract”, making all the bets be instantaneous, and eliminating delays and cancellations of pay-outs;
• The usage of internal tokens for betting reduces the internal fees twofold;
• All the bets are unprecedentedly fair and transparent due to the use of blockchain technology.

BetMatch uses XBM internal tokens (Ethereum ERC20 standard), which drastically decreases fees. Users can also lease the XBM tokens to other users in need, for a small percentage of their winnings. 

XBM tokens will be gifted to active members of the community, such as experienced forecasters or outstanding sports analysts. The token is listed and can be purchased on Latoken exchange, Crex24 and betmatch.io. 

The token has risen 500% since its launch.

Funds are deposited on a smart contract which automatically transfers currency to the user’s account, and pay-out is guaranteed by a dedicated liquidity pool whose balance can be verified at any given moment. 

Enjoy secure betting on BetMatch.io.

Press Release

State of the Crypto by Top Tier Exchange Volume

Build your project with CoinDesk Data

Terms | Privacy

13 Charles II St, SW1Y 4QU

London, UK

This email may include advertisements by third parties. None of the advertised or promoted products and services have been verified or approved by us and this email is not any endorsement by us of the third party or of their products or services.