TeleX AI: Making the Transition from GUIs to AI in Cryptocurrency Trading

Everyone uses instant messengers and chat applications like Telegram, WhatsApp, WeChat and more. Now, what if buying, selling and storing cryptocurrencies was as easy as interacting with a friend over chat? TeleX AI is going to make it possible. It allows people to trade, store and invest in cryptocurrencies with a simple chat.

From desktop applications to web apps and then mobile apps, this is how interfaces have evolved over the years. The 21st century is now ready for another technological breaking point, the chatbot revolution. The next generation does not want to use complex interfaces to tackle simple tasks. In 2017, chatbots are poised to provide a platform where people connect to businesses. A survey conducted by Oracle found that 80% of marketing and sales professionals expect to be using chatbots to interact with their customers by 2020. Why not trade cryptocurrencies the same way?

Consider TeleX AI, an intelligent platform, whose token presale went live on 21st November 2017. TeleX AI is a chatbot powered by artificial intelligence designed to provide cryptocurrency-related services through an instant messaging application interface. Both cryptocurrency users and investors use cryptocurrency wallets and exchange software to trade cryptocurrencies. TeleX AI will provide both wallets and exchange software as its primary services. It will save the user some time by eliminating the need to go through unnecessarily lengthy processes and getting used to new interfaces, which may be full of complex functionalities to learn.

TeleX AI

With TeleX AI, the user or investor can just open a chat window and start trading, without having to download or install any new application.

An initial market research conducted by TeleX AI team of developers showed that simplicity and convenience in user experience are what millennial cryptocurrency users are looking for. Users will be able to store their cryptocurrency fund in their Telegram account and send and receive coins among their peers instantly without a fee. Apart from buying and selling cryptocurrencies, access to a basic wallet and exchange infrastructure, the bot users will enjoy other TeleX AI infrastructure, including access to market data, sale of mining contracts, and sharing trading signals, among others.

When users purchase cryptocurrencies on TeleX AI, their account is credited with the exact amount of coins that are purchased from the external altcoins exchange without a fee. This model will hold for the experimental prototype period, but the production-ready TeleX AI will charge a fee.

Additional services such as trading signals subscription will require a fee payable in TeleX AI Tokens, which will be the platform’s native currency.

For convenience, a certain amount of TeleX AI Tokens will be on sale, and whenever a user has to pay a fee, the tokens will be automatically bought from the market price and the fee settled seamlessly. The TeleX AI Tokens will be in limited supply meaning their value should be positively correlated with TeleX AI’s market penetration.

More information about the project and its ongoing crowdsale are available on the website.

 


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In a statement that will no doubt have many readers uttering “well, duh”, Saudi Arabian businessman and billionaire Prince Alwaleed has come out with scepticism about Bitcoin. Speaking on CNBC’s “Squawk Box”, the grandson of the first Saudi King had the following to say of the digital asset:

It just doesn’t make sense. This thing is not regulated, it’s not under control, it’s not under the supervision.

At least the Middle-Eastern investor was frank about his objections to cryptocurrency. Unlike the vague, nonsensical slander of fellow billionaire and JP Morgan Chase CEO Jamie Dimon, Alwaleed made no bones about the fact that it’s the anarchic, decentralised nature of Bitcoin which he particularly takes issue with. This is hardly news coming from an investor with ties to one of the most authoritarian regimes on the planet.

The Prince went on to liken the pending cryptocurrency crash, which he sees as inevitable, to that of Enron – a completely irrelevant comparison involving a mass of fraudulent activity plunging a company into bankruptcy:

I just don’t believe in this bitcoin thing. I think it’s just going to implode one day. I think this is Enron in the making.

However, Bitcoin is neither a company, nor is beholden to a single legal entity. Sure, fraud can be committed using any currency but it’s reductionist to use that as a grounds to denounce it. Fortunately, a more friendly voice was quickly on hand to offer a rebuttal to Alwaleed’s misguided words.

Just hours later, Brian Kelly, BK Capital Management Founder, hit the Saudi billionaire with a few home truths via telephone interview on CNBC’s “Fast Money” show. He immediately claimed that the Prince has a “fundamental misunderstanding of what Bitcoin is.”

Kelly refuted Alwaleed, stating a lack of knowledge of the protocol as the motivator for his stance. The investment manager summed up Bitcoin as piece of financial software able to remove middlemen from transactions – nothing more, nothing less. Naturally, as he continued, the political ramifications of such a groundbreaking piece of technology are grandiose.

The financial system that we have now is built with a middle man in it. As soon as you can break through that then you can start to understand that this is a revolutionary technology of fundamental change in the way we send money around the world… There WILL be a token that resides on a blockchain that allows us to send value over the internet without a middle man… That’s something I want to be invested in.

Image: BusinessInsider

Cashaa, the blockchain-based financial services initiative, has announced that a number of new high-profile Advisors will be joining its team. One of the most recent is Dr. Bernard Lietaer – the author of a number of widely-acclaimed books including The Future of Money; Money and Sustainability; and New Money for a New World – who has been at the forefront of the field of money in numerous capacities for almost 40 years. In the course of his career he has served as a central banker, fund manager, academic and consultant. He was instrumental in the formation of the Euro thanks to his work in designing the convergence mechanism (ECU) while he worked at the Central Bank of Belgium, and in 1992 was named ‘World’s top currency trader’ by Business Week.

High-profile Advisors

Also joining is tokenomist Dr. John Henry Clippinger, a research scientist at MIT’s Media Lab, co-founder of the Token Commons Foundation and Executive Director of ID3, the Institute for Innovation & Data Driven Design. He also serves as an Advisor to the Bancor project.

Cashaa provides a transformative solution to a pressing global need: frictionless, secure, and accessible global payments and remittances. Cashaa promises to become a critical part of a future decentralised payment infrastructure serving the unbanked and the banked alike. I would like to see the Cashaa protocol being adopted as a component for a global commons.

This is part of a larger discussion of what we are trying to achieve for the Token Commons Foundation – but in short, I think Cashaa provides what is seen as a decentralised commons approach as a utilisation token for payments and remittances.

Dr. John Henry Clippinger, MIT Media Lab, Token Commons Foundation

 Clippinger is joined by researcher Prof Dr. Alex Norta from Tallinn University of Technology, who is well known for his work on Qtum.

Cashaa can leverage the Qtum smart-contract system by developing mobile apps and also having a performing and scalable PoS platform.

Prof. Alex Norta, Qtum Chief Scientist

Other additions include academics and key figures from blockchain media and business, as well as the wider payments industry and investment world, such as Winston Gilpin, Venture Capital Advisor and CFO of Mercury Fund; Richard Kastelein, Blockchain News publisher; Tim Campbell, winner of Entrepreneur TV show The Apprentice; and Akash Gaurav, CEO of Auxesis Group, which is also ranked a Top 100 Blockchain company and other executives from Fortune 500 companies.

Finally, Cashaa will be greatly assisted in establishing in the Indian market by Dinesh Prasad, Strategic Advisor for India. Prasad is a business developer and programme manager with over 22 years of experience in Wireless Telecoms, including as Head of Sales for Qualcomm India & South Asia. He will be accompanied by Rajesh Dhuddu, Payments Advisor for India, who is Senior Vice President of next-generation payment processors Quatrro Processing Services, and a fintech and blockchain expert.

Disrupting financial services

Cashaa, which will shortly launch its Token Generation Event (TGE), is aiming to provide access to financial services for the billions of unbanked and underbanked. The initiative leverages blockchain technology without end-users needing to know anything about it and never having to come into contact with cryptocurrency themselves.

Token Generation Event

Cashaa’s platform will be powered by the Cashaa (CAS) token. CAS holders will be able to access premium services, instant loans, creating a credit score, creating smart contracts for trading and participating in the governance mechanism of CAS tokens. A total of 1 billion CAS tokens will be created on the Ethereum platform of which Cashaa will make 51% (510,000,000) available for sale, with unsold tokens being burned. The CAS pre-sale will be live until 30 October, with the public sale opening on 6 November and running until 5 December or until the cap is reached.

For more information or to register for the crowdsale, visit https://cashaa.com/cas-token.php

Universa has joined the Blockchain.aero consortium that unites manufacturers, service providers, and software developers working to make mass urban aviation a reality. Rapid advancements in engineering allow for a completely new type of aircraft and infrastructure, but manufacturers don’t have to limit themselves to simply selling the product. By employing blockchain technology along with the sharing economy model they can provide a full-fledged service and collaborate in a common ecosystem.

Transport-as-a-service was Uber’s way of disrupting the taxi industry, and now the company itself is exploring the air taxi market. Uber, as well as Volocopter, Ehang, and Airbus are already performing successful test flights and forming partnerships. Volocopter recently flew their vehicle in Dubai while Uber struck a deal with a major real estate developer in Dallas and is successfully negotiating with the city authorities of Dallas and Fort Worth.

Universa and Blockchain.aero are ready to be at the forefront of the nascent industry in Russia and beyond. Universa can help its partners in numerous ways – from expert consulting to providing technical solutions. Apart from payment processing, which is nothing new for a blockchain platform, there are other opportunities for Universa to add value to the budding ecosystem, as Blockchain.aero aims to port every aspect of the flight to the blockchain, including device interaction, technical parameters of the vehicle, and more complex economic relationships such as renting or leasing.

Instead of relying on traditional imprecise and convoluted pricing mechanisms, the consortium will create a shared network for direct consumption and support of the aircraft technical resource. Battery charge, sensor data, distance traveled, even wear and tear of particular vehicle components can be tracked and managed in real time on the blockchain along with current demand and traffic network capacity. The flight itself can thus be tokenized via a dynamic, transparent and objective pricing algorithm.

For passengers, this would mean a more accessible, flexible, fast, and straightforward service.

For entrepreneurs, such a model would lower transaction costs, facilitate maintenance procedures, present real-time data for analytics, and provide a clear mechanism for direct settlement with partners. All of these benefits are not merely strategic – they will certainly show on the balance sheet.

For investors, an urban air travel token would be a worthwhile asset with tangible public value. As the network of real service consumers and providers potentially grow in reach and efficiency, it ensures the demand and liquidity of the token, thus aligning the interests of the investors and the public.

This vast IoT network of vehicles, service stations, and passengers requires a lightning transaction speed along with unprecedented scalability. Few blockchain platforms are as capable to meet these demands as Universa. It can provide a solid platform for token exchange, traffic coordination, administrative operations, or virtually any procedure thanks to the Turing complete logic of smart contracts.

The users may not even be aware of the underlying technology, but a blockchain that manages to solve a crucial public problem such as traffic congestion is bound to thrive. It would be a system with guaranteed network effects and controllable performance. Universa and Blockchain.aero are seizing this opportunity as early as possible so that they can build a data-driven and robust network from the ground up before a wrong choice of an outdated model slows it down.

Blockchain.aero partners Bartini and Gepard are already testing their own vehicle models. Their engineering challenges are by no means unsolvable. The $1.2 bln market estimate shows enough potential demand to fuel rapid progress in air travel technology.

Our cities are dealing with massive urbanization and traffic congestion creating a growing need for scalable, clean, and affordable transportation that wouldn’t clutter up our pathways. Last century this very demand gave rise to the subway, a traffic system that has been thriving ever since. As Tom Enders, the CEO of Airbus, put it:

“One hundred years ago, urban transport went underground, now we have the technological wherewithal to go above ground”.

He is convinced that the adoption of air taxi could save governments money on bridges, roads, and other pieces of expensive infrastructure.

Foundations for vertical takeoff and landing infrastructure already exist in many cities. The rooftops of every major metropolis are equipped with functional helipads that are largely underused. Tokyo, Seoul, and Los Angeles have more than 70 landing pads each. As for legislation, Dubai, Singapore, and other modern governments ready to welcome small commercial aircraft will set a notable example for aerospace regulators who will inevitably have to adjust to the market pressure.

The subway redefined public transportation a century ago, but this time we can make the new system decentralized, transparent and maintainable by the public with the help of blockchain technology. Universa and Blockchain.aero hope to build it in a team effort extending the meaning of “sharing” in sharing economy from consumers to collaborative entrepreneurs and investors.

The blockchain is attracting a lot of attention and with good reason. In addition to its impressive security and reliability benefits, the development of blockchain-based smart contracts represents the future of transactions. From individuals to enterprises, smart contracts are changing the nature of the deal, and they are opening up new opportunities for business interactions. Confideal is at the forefront of this movement with their Ethereum blockchain based application for smart contracts.

Smart Contracts? Smart. Contracts.

Smart contracts are one of the most promising benefits of the blockchain. They allow parties to set predetermined stipulations that are automatically enacted when users meet certain requirements. Smart contracts act as a digital escrow service that capitalizes on blockchain features like immutability, accuracy, reliability, and transparency to ensure that transactions occur when pre-determined stipulations are met. They are smart because they do exactly what both parties agree that they should do.

Unfortunately, while smart contracts are incredibly effective, not everyone has the legal background or programming skills to create unique contracts for every situation. Enter Confideal.

A Simple Solution.

As a smart contract platform, Confideal allows users to generate, manage, and enforce smart contracts. Users don’t need legal training or a programming background. It’s an ease-of-use solution that empowers users to enjoy the promise of smart contracts. In just a few simple steps, users can enact a contract with confidence so that they can return to the most important parts of their project – the project itself.

Confideal utilizes the Ethereum blockchain, and it deals in Ethereum’s native currency, Ether. Additionally, Confideal employs an internal currency that enables users to utilize services, to vote for arbiters, and to participate in the platform. In this way, Confideal is an organized and intentional community striving for fairness, accountability, and opportunity.

A Simple Process.

Confideal is progressive with their product, but they are surprisingly simple with their process.

First, users will download the MetaMask extension for Google Chrome, This allows users to enter the Confideal ecosystem and to operate on the blockchain. To participate in a smart contract, users must have currency available. Purchasing Ether from any exchange prepares users to participate in the Confideal network. After creating an account, a simple form is all that’s required to get a contract started.

Smart contracts never fail, but sometimes people do. In the case of a disagreement, Confideal provides arbitration services through pre-appointed, third-party law firms. With this process, all users can operate with the confidence of knowing that truth and fairness is the standard of operation.

This simple process underscores Confideal’s commitment to equipping people to create safe, trustworthy agreements with one another. Smart contracts with Confideal are the backbone of future transactions with possible applications for the sharing economy, e-commerce, industry disruption, and some many other transition based systems.

Where to begin?

Confideal set a pre-ICO funding goal of $600,000. They quickly surpassed that amount and generated more than $650,000. For those looking to get involved, Confideal is creating a Whitelist for the most interested investors to participate in their ICO in early November.

With their launch, Confideal is restoring our confidence in one-another. With trust comes greater levels of productivity, collaboration, and product development. In a digital-first, globalized economy, smart contracts are the gateway to success, and it’s so profoundly simple. There is no banks, lawyers, intermediaries, or paperwork. Smart contracts are the smart way forward, and the opportunity is ready to be embraced.

We are heading into the close of today’s trading out of Europe in the bitcoin price and we have had a pretty volatile day so far. Things started off relatively quiet, and we got the period of consolidation that we were looking for and that we outlined in this morning’s analysis is likely to take place before any major breakouts happened. Pretty quickly, however, things started moving and we managed to jump in and out of the markets according to the rules of our breakout strategy on a number of occasions for a pretty clean and tidy profit.

We are now around about the crossover period between the European and US sessions – a period that is known for considerable volatility – and so let’s get some levels put together that we can try and use as we head into the session this evening in an attempt to replicate our success during today’s trading. As ever, take a quick look at the chart below before we get started so as to get an idea where things stand and where we are looking to jump in and out during the session going forward. It is a one-minute candlestick chart and it has our range overlaid in green.

As the chart shows, the range we are using for the session this evening comes in as defined by support to the downside at 5817 and resistance to the upside at 5869. Standard breakout rules apply for now, given that we are working with a range that’s a little too tight to bring our intrarange strategy to the table.

So, if we see price close above resistance, we will enter long towards an immediate upside target of 5910.

Conversely, a close below support will have us in short towards a downside target of 5780.

Stops on both positions limit risk.

Let’s see what happens.

Charts courtesy of Trading View

Bitcoin investors and holders using the Trezor bitcoin hardware wallet prior to the Bitcoin Gold (BCG) hard fork that is expected to be executed on November 26, will be credited with BCG.

Earlier today, on October 23, Trezor stated:

“Yes, TREZOR (the device) supports Bitcoin Gold. As previously mentioned, at the moment of the fork, if you have bitcoins on your TREZOR, you will also receive bitcoin gold on your TREZOR (both new and legacy accounts are supported in bitcoin gold). If you simply wish to hold BTC and BTG, there is no further action required from you.”

Bitcoin Gold Codebase is Not Ready and Replay Protection Not Completed

Many major cryptocurrency exchanges and bitcoin wallet platforms including Bittrex have previously explained that the codebase of Bitcoin Gold is not ready, untested, and remains unaudited. More importantly, Bitcoin Gold currently lacks strong replay protection, which is necessary for bitcoin holders to withdraw BCG upon its hard fork in a secure manner.

In its announcement, Trezor emphasized that all holders of bitcoin using the Trezor hardware wallet will be credit with BCG, since Trezor is a non-custodial bitcoin wallet platform and users have full control over their private keys. But, Trezor stated that it will not be able to add support for Bitcoin Gold at this stage of development, given that it may risk bitcoins of its users, investors, and clients.

The Trezor development team explained that the lack of strong replay protection could result in the loss of existing bitcoins on wallet platforms and exchanges, which is especially unsecure for bitcoin investors.

“Replay protection prevents a transaction on the Bitcoin Gold chain from being re-transmitted on the Bitcoin chain and vice versa. As Bitcoin Gold is a fork of Bitcoin, the transaction format, the signatures, etc. are the same. A transaction on one chain could be copied to the other chain and will be valid, possibly leading to unintended loss of coins. In other words, if BTG does not have replay protection, spending on one chain will cause you to send the same amount of coins on the other chain,” said Trezor.

When Will Users be Credit With Bitcoin Gold? and Likely Price of BCG 

As many bitcoin wallets such as Blockchain did with Bitcoin Cash, Trezor will add support for Bitcoin Gold once the Bitcoin Gold development team implements strong replay protection to prevent bitcoins from being mismanaged and lost. Earlier this week, the Bitcoin Gold team announced that replay protection will be added by mid-November, which could allow the Trezor development team to integrate BItcoin Gold support prior to its hard fork.

At the time of reporting, as Bitcoin developer Jimmy Song revealed, Bitcoin Gold is likely to debut at a price range of $400.

Considering Bitcoin Cash’s current price of $314, and the lack of support for Bitcoin Gold from the cryptocurrency community, industry, and developers, it is a relatively high price point.

The Saudi Arabian government has openly come out to say it is not considering regulating Bitcoin in the country. At a time when a lot of national governments are trying to hem the digital currency from growing, others are being careful not to get involved in regulating cryptocurrencies. However, there are those that want to be neutral on the issue. Saudi Arabia is one of those countries that want to be neutral as far as the issue is concerned.

Market is Not Mature to Regulate Bitcoin and ICOs

Recently, a top advisor of the Saudi Arabia Financial regulator informed CNBC Sunday, how the cryptocurrency market in Saudi Arabia is not mature enough in assessing the influence that these cryptocurrencies may have on the economy and regulation.

Another top advisor, Abdulmalik Al-Sheikh of the Saudi Arabian Monetary Agency (SAMA), noted how cryptocurrencies are not what SAMA as a body is focused on in regulating currently. According to him, it (cryptocurrency) is in its infant stage with trials and pilots everywhere. He didn’tconsider it as something strong in which there is anurgency to be part of at the moment. This comment came as a result of the FinTech event in Abu Dhabi.

He further highlighted how the country’s central bank is monitoring and measuring the impact of cryptocurrencies. For him, it could take additional five years before a real impact can be seen and the future operating model of the cryptocurrencies. According to him, key regulators are using the “wait and see approach” to initial coin offerings (ICOs). It is a medium for startups to acquire funds through a virtual coin issuing. Nevertheless, investors do not normally acquire equity stakes in a company when compared to those with an initial public offering (IPO). According to CoinSchedule, the industry’s website, this year alone, through the ICOs more than $3 billion has been raised.

Malik stated:

“For us it’s still not something that is traded and accepted globally, it’s something that is done and traded in different markets. As I mentioned before we are observing that and monitoring what’s happening and try to measure the risks associated.”

Throughout the world, regulators have taken diverse approaches to ICO regulation and cryptocurrency. For instance, of late China banned all outlawed ICOs and cryptocurrency exchanges. Besides China, South Korea also proscribed ICOs. However, Japan, on the other hand, gave allowance to companies in accepting Bitcoin as a means of payment. Recently, Abu Dhabi announced the plans of bringing ICOs under regulation.

By market capitalization, Bitcoin is the largest cryptocurrency and have achieved a new record high with huge price rally this year. Across the board, the interest in cryptocurrencies is on the rise, though there has also been criticism from some quarters. Recently, the CEO of Jamie Dimon, JP Morgan Chase called Bitcoin a scam.

ABC News, a national news service in Australia, has reported that bitcoin price is following a “parabolic trend,” as it surged from less than $4,500 to $6,199 within less than two weeks.

Since early 2017, mainstream news networks and media outlets in major regions such as Australia, South Korea, Japan, and Switzerland have started to provide extensive coverage of bitcoin alongside reserve currencies like the US dollar and traditional assets including gold.

Increase in Demand For Bitcoin as a Safe Haven Asset

Last week, as NewsBTC previously reported, Wall Street strategist and Fundstrat co-founder Tom Lee stated that the next phase of mainstream bitcoin adoption would require the cryptocurrency to penetrate the gold market. Lee emphasized if the bitcoin market could obtain five percent of the global gold market in the next five years, a $25,000 long-term price target for bitcoin is plausible.

Lee said:

“Bitcoin represents a store of value because it is an encrypted database, that for seven years has not been hacked. That is a way to store value. And if personal information is our gold, Bitcoin is our digital gold. So we think that the gold market which is $9 trillion, and for a generation of investors gold was their store of value. I think the next generation of young people view Bitcoin as their store of value. And if it captures 5 percent of the gold market, it is worth at least $25,000 per unit.”

Since March of this year, the price of bitcoin has increased from less than $900 to $6,199. That is, a seven-fold increase within a seven-month period, which is a relatively short time frame considering the growth rate of conventional assets, stocks, and currencies.

Such exponential growth rate of bitcoin has triggered the interest of both general consumers and large-scale institutional traders in many regions, including Japan and the US. Most recently, LedgerX, an institutional trading and clearing platform approved by the U.S. Commodity Futures Trading Commission (CFTC) to trade and clear swaps and options on digital currencies. Revealed that it had cleared $1 million worth of bitcoin options and derivatives trades in its strictly regulated channel.

“We ended up completing swaps and options trades worth over $1,000,000 USD. Crucially, these trades were cleared through LedgerX, which is the only institutional grade, US federally regulated exchange and clearing house for digital currencies. And we are literally just getting started,” said the LedgerX team.

Mainstream Media is Addressing the Increasing Demand From Investors

Mainstream media and news networks like ABC News and the Wall Street Journal that have sustained a strong client base in the traditional finance industry, have started to provide extensive coverage on bitcoin because conventional investors have begun to demonstrate an increasing demand for bitcoin and the cryptocurrency market.

The emergence of LedgerX, bitcoin exchange-traded funds (ETFs), and bitcoin exchange-traded notes (ETNs) and will likely further trigger the interest from investors in the traditional finance sector, which should be considered as an optimistic indicator for long-term growth of bitcoin.

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IOTA has proven to be an interesting creation. After being in development for a long time, the tokens were finally issued to investors earlier this year. The currency quickly entered the cryptocurrency top 10 as a result. Things have slipped a bit ever since, though. Moreover, it seems the network is undergoing some major issues as of right now. The final transactions on the network took place 38 hours ago. Developers are working on a solution, though, but it will take some time to solve this problem.

It is never good to see a cryptocurrency network grind to a halt. Especially when no one knows how this was allowed to happen in the first place. For IOTA, things are looking anything but promising for the time being. With no transactions taking place, there is no real progress whatsoever. The developers are aware of the problem and working on a fix. However, it is impossible to provide an accurate deadline or ETA right now. For the time being, the IOTA network isn’t functional, as it has been for over 38 hours now.

IOTA Issues are Quite Severe

It is certainly true every cryptocurrency network can suffer from issues. Bitcoin has had some hiccups along the way as well. However, most people were all too aware of these issues at that time. In the case of IOTA, it seems most of the details are kept under tight wraps for now. We do know the developers asked all full node owners to shut them down for now. A new update and wallet will be released as soon as possible.

On Reddit, this news is met with mixed responses so far. There are a few people calling IOTA a “scam”, although that seems to be exaggerated. It is certainly true things don’t look good, but no money has been lost in the process. Users aren’t able to spend their tokens right now, though. That in itself is a big problem, as it effectively renders ITOA virtually useless right now. Once the situation is resolved, however, things will go back to normal pretty quickly.

That being said, for a currency with a market cap of over $1bn, one would expect better things. Issues like these are incredibly problematic and already last far too long. Issues always take a few hours to solve successfully. Anything that lasts nearly two full days is cause for concern. It will be interesting to see how the market responds when the network is online again. Right now, people can’t even sell their coins unless they are on an exchange already. A rather problematic development, all things considered.