Cryptocurrencies get a boost in trading
Bitfinex has just started supporting a new type of Blockchain design.
There have been many cryptocurrencies projects that have started with a good promise but have not quite reached that goal that was set out to achieve. Many recent Blockchain projects have trouble winning over the earlier adopters because of the uncertainty and lack of confidence in the Blockchain technology to adapt and change lives worldwide.
The Bitcoin and Blockchain technology has brought a lot of sentiment to individuals while some see it as an investment vehicle. The focus has shifted in recent years, however, to a more Businesses an enterprise-oriented view of the applications of the Blockchain technology. Most Businesses are looking for a solution to everyday problems that are practiced and need a platform that will scale with growing demands of the global markets.
Data is something that is constantly created and is always growing at an exponential rate, as organizations like the IDC predict that there will be a huge rise in data worldwide by the year 2025.
There has been a release of a project called YGGDRASH that aims to introduce a new breed of Blockchain designed for multichain implementations. This will be the first full implementation of a Blockchain application project that will connect to multiple Blockchains that are on the same network. The project also seeks to solve any deficiencies in current Blockchains like Ethereum.
The YGGDRASH project seems to have a strong team that has an extensive group of professionals across the Blockchain industry and from successful Businesses. This includes companies like Ernst & Young, Wix, ICON, KPMG, Coinone, Hyundai Card and Bithumb.
The list of YGGDRASH team members consist of:
- CFO and Head of Business Development Joon Seo, with Former experience from Hyundai Card, Ernst & Young, KPMG
- CTO and Co-founder, Peter Ryu, which is also a Former development lead of the ICON foundation and Blockchain architect at THELOOP
- CEO and Co-founder David Seo, which is the Former COO of Coinone, this is the second largest cryptocurrency exchange in Korea by volume
The YGGDRASH will have its own token called the YEED and is now available for trading on Bitfinex and Ethfinex from October the 18th 2018. Bitfinex is one of the oldest cryptocurrency and assets exchange to operates today with various altcoins tradings. Ethfinex, on the other hand, is a spinoff of Bitfinex that is focused on the Ethereum ecosystem and shares the same engine platform as Bitfinex.
Anyone that has a trading account on Bitfinex will also be able to use the Ethfinex trading platform with the registered account. The cryptocurrency and Blockchain industry is growing and needs a strong project that is properly equipped to handle issues that occur today and in the future.
The YGGDRASH team is focused on bringing previous experiences from past multinational corporation projects in the race towards decentralization. The team has a difficult mission ahead but the team is ready to drive the project ahead. The companies project white paper can be viewed or downloaded here.
What do you think of these new projects coming up? Feel free to leave a comment down below.