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The Daily: Square Open-Sources Subzero, Coin Stats Launches Chat Platform
In this edition of The Daily, we look at Square’s recent decision to open-source its Subzero cold storage solution. We also focus on Bitcurate’s new cryptocurrency market intelligence service, as well as the chat platform that Coin Stats is launching for cryptocurrency investors and coin teams.
Square Shares Code, Tools and Documentation
Square, a mobile payments app developer, is open-sourcing the documentation, code, and tools for Subzero, the platform’s cold storage solution for cryptocurrency holdings. Subzero uses hardware security modules (HSMs) — specialized devices that store sensitive data — to perform operations with the private keys of cryptocurrency wallets.
Last year, Square started offering customers the option to buy, sell and withdraw bitcoin core (BTC) with its Cash App. Users can view their holdings whenever they want, but the company claims it keeps only a small amount of customers’ coins in online hot wallets to facilitate transactions, while storing the rest in offline cold wallets. Other security features include the ability to customize the service, so the cold wallets can only send funds to Square’s hot wallet, as well as the implementation of multi-signature procedures.
“Since launching bitcoin support, Square developed a robust approach to bitcoin cold storage, and we recognize the importance of sharing our work with the community,” the company explained in a statement on Medium. “As a result, today we’re open-sourcing the documentation, code, and tools for Subzero, our HSM-backed solution for protecting Square’s bitcoin holdings.”
Bitcurate Starts Crypto
Market Intelligence Service
Bitcurate, a Chinese company that provides cryptocurrency data intelligence solutions, launched a new crypto market intelligence platform this week. The service combines expert analysis with natural language processing and machine learning technology to provide investors with real-time market insights. The platform aggregates information from news sources, social media platforms, chat groups and online forums. It also utilizes data from traders, exchange APIs, the crypto futures market, and other financial instruments. In total, the company claims that it processes more than five million sentiment data points per day.
Bitcurate acknowledges that a lot of trading decisions are motivated by mere “noise.” However, it also claims that roughly 90 percent of movements in the cryptocurrency market are purely driven by sentiment.
“The best investment strategies are data-driven,” said Bitcurate CEO Victor Lee in an online statement. “However, the market today is fragmented, making it difficult and time-consuming for investors to find the accurate, wide-ranging information they need to make calculated decisions. That’s why our platform tracks millions of data points every day.”
Bitcurate offers its subscribers a range of trading data for the cryptocurrencies they are specifically interested in, including real-time exchange rates, sentiment scores and recent price changes, as well as the latest news from the cryptocurrency space. In addition, the platform ranks digital coins according to their U.S. dollar value and trading volume.
Bridging the Communication Gap
The developers of Coin Stats, a cryptocurrency portfolio tracking app, have launched a new feature that will allow users to chat with other cryptocurrency enthusiasts, digital asset investors and developers. Coin Stats Direct will maintain chat groups dedicated to specific cryptocurrencies within its Coin Stats application. The platform will allow users to post questions about different projects and start discussions. Project teams, on the other hand, will be able to post updates about their coins, while also fielding questions from the public and providing users with the latest information about their progress of their initiatives.
Coin Stats Direct is designed to bridge the communication gap that exists between investors and coin teams. It aims to increase transparency in the cryptocurrency space by connecting project teams and users. The platform will initially support nine coins: bitcoin cash (BCH), bitcoin core (BTC), ether (ETH), ripple (XRP), EOS, NEO, stellar (XLM), vechain (VET) and appcoins. The company said it plans to add other cryptocurrencies and tokens to its platform in the near future.
What are your thoughts on today’s news tidbits? Tell us in the comments section below.
Images courtesy of Shutterstock, Bitcurate.
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The post The Daily: Square Open-Sources Subzero, Coin Stats Launches Chat Platform appeared first on Bitcoin News.
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