The Daily: Bittrex Invests in New Platform, ATM Market to Grow Over 50% a Year

In Monday’s edition of The Daily we cover the news that Bittrex exchange has invested in a new Malta-based trading platform aimed at institutions, and a research report which predicts that the crypto ATM market will grow by over 50% a year and more.

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Bittrex Invests in New Platform

The Bittrex cryptocurrency exchange has bought a 10% stake in Palladium, the Times of Malta reported on Sunday. Palladium is a platform for Initial Convertible Coin Offerings (ICCOs) meant to attract institutional investors to enter the crypto tokens field, powered by Bittrex’s technology. The companies have not revealed the investment amount yet but Palladium’s fundraising target is €150 million by a pre-sale of tokenized securities. According to its launch announcement from back in July, 50% of the proceeds are earmarked to go towards the acquisition of a controlling interest in a European bank. Paolo Catalfamo, founder and chairman of Palladium, said: “We are excited to have such a global player on board. Bittrex’s investment in Palladium is a confirmation of Malta’s sound decision to be at the forefront of regulating blockchain technology.”

ATM Market to Grow Over 50% a Year

Marketsandmarkets, a B2B market research firm, has released a new report about the Crypto ATM Market stating it is expected to grow from $16.3 million in 2018 to $144.5 million by 2023, at a compound annual growth rate (CAGR) of 54.7%. And among all types of machines, the 2-way crypto ATM segment is likely to grow at the highest CAGR during the forecast period.

In a global comparison, North America is expected to hold the largest share of the crypto ATM market by 2023. The US specifically is expected to dominate the market during the forecast period due to the presence of a large number of hardware and software providers as well as a favorable investment environment, the researchers say. The report profiles key players in the market around the world, including: General Bytes (Czech Republic), Genesis Coin (US), Lamassu (UK), Covault (US), Bitaccess (Canada), Coinme (US), Coinsource (US), Bitxatm (Germany), Orderbob (Austria), and Rusbit (Russia).

Firefox to Block Cryptojacking by Default

Nick Nguyen, Vice President of Product Strategy at Mozilla, has recently revealed that their popular Firefox browser will block cryptojacking by default in the near future. This is done as part of a series of moves meant to help combat tracking and the loss of performance on the web. He explained to unfamiliar users that some “sites have deployed cryptomining scripts that silently mine cryptocurrencies on the user’s device. Practices like these make the web a more hostile place to be. Future versions of Firefox will block these practices by default.”

As we previously reported, the developers of the Opera browser announced they will start offering protection against cryptocurrency mining scripts right out of the box back in December 2017, and the Brave browser has been offering protection against malicious cryptocurrency miners by default since September of the same year.

Oxford to Research Green Mining Technology

University College Oxford (Univ) has established a new “Research Centre for Blockchain”. The academic body is headed by Univ’s Fellow Professor Bill Roscoe, with a background of over 30 years in concurrency, automated verification, applied cryptography and payment protocols. He is joined by a group of experts in similar areas and they are working to “vastly improve” the efficiency of mining and trust models, to build new models of privacy and escrow, and to create models of fair exchange to support secure exchanges. The group will also focus on long term challenges such as the threat posed to the field by quantum computers. Professor Roscoe stated: “The new centre focuses on bringing the blockchain to the mainstream. This vision will be achieved by using green mining technology and embracing regulation through appropriate Know Your Client (KYC) guidelines.”

What do you think about today’s news tidbits? Share your thoughts in the comments section below.

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