Hive.one, formerly known as CryptoInfluencers, a platform that lists influential figures in major cryptocurrency communities, was forced to eliminate its section on Ripple.
According to the Hive.one team, for an undisclosed reason, the platform was under heavy scrutiny whilst receiving feedback from the Ripple community. Hive.one researchers said:
We also mapped Ripple. However, while collecting feedback from this community we met with hostility and requests to be removed. It’s the first time we encountered this, so we decided not to publish the list for the time being.”
Factors Behind the Backlash
Since its launch in December of last year, CryptoInfluencers has been considered as one of the most accurate platforms that rank public figures in the cryptocurrency sector based on their social media presence and influence over their respective communities.
The algorithm of Hive.one is solely based on data pulled from Twitter, which remains as the most active social media platform for cryptocurrency users, investors, developers, and companies. Initially, Hive.one analyzes the engagement and reach of public figures and then moves onto the reach of accounts that engage with the accounts of public figures.
For instance, if Bob sends out a Tweet about Bitcoin, Hive.one will analyze the initial engagement of Bob’s Tweet and also the reach of accounts that engaged in the Tweet of Bob by liking or retweeting it.
It is not possible to implement perfect criteria to evaluate one’s influence over a specific market. Certain figures may have more influence over a market on alternative platforms like YouTube and some influencers may not be even involved on social media but are active in traditional media such as television networks.
With the Twitter-focused algorithm utilized by Hive.one in mind, the researchers found that Joel Katz, the Chief Technical Officer of Ripple, is the most influential figure in the Ripple community.
The most influential members of XRP community are current and past employees of @ripple.
— hive.one (prev. cryptoinfluencers.io) (@hivedotone) September 21, 2018
Interestingly, while the majority of the community expected Tiffany Hayden to be the most influential figure that is not an employee of Ripple, the researchers found Hodor7777 to be the most influential non-employee of Ripple.
The most influential pseudonymous account in XRP community is @Hodor7777.
Our guess is that it's also the most influential non-employee of @ripple in this community (we can only guess since it’s a pseudonymous account).
— hive.one (prev. cryptoinfluencers.io) (@hivedotone) September 21, 2018
The report also revealed that Joel Katz has more influence over the Ripple community than Ethereum co-creator Vitalik Buterin has over Ethereum.
Not Good For Ripple
Joel Katz and Brad Garlinghouse being two of the most influential figures in the Ripple community was well expected. But, the outrage towards Hive.one and its evaluation of the community probability originated from the listing of former Ripple CTO Stefan Thomas as the second most influential account in the community, considering his lack of involvement in Ripple in recent months.
However, the data provided by Hive.one is merely information that is designed to be taken as reference. It does not represent the most practical criteria nor algorithm. Yet, the Ripple community has shown such a high level of hostility towards the platform that its team was forced to eliminate its section on Ripple.
Agreed, also want to mention @hivedotone said "It’s important to point out that our algorithm does NOT indicate endorsement, but influence."
— Linda Xie (@ljxie) September 21, 2018
While collective and constructive criticism can be beneficial in most cases, intense hostility towards a platform that merely provides information on one social media platform that is Twitter cannot be justified.
Opera’s Browser With Built-In Crypto Wallet Launches for iPhones
Users of Android phones and desktop computers have had the option to use Opera’s blockchain-friendly browser for months now, but iPhone owners have been left out of the fun.
That’s now changed with the launch of the latest version of Opera Touch for iOS.
As per a blog post from the firm, the new browser option is largely identical to the above-mentioned offerings, providing a built-in cryptocurrency wallet and the ability to run Web 3.0 and decentralized apps (dapps) without a third-party plugin.
“We believe that the Web of today will be the interface to the decentralized web of tomorrow (Web 3). With built-in Crypto Wallet, the browser has the potential to renew and extend its important role as a tool to access information, make transactions online and manage users’ online identities in a way that gives them more control.”
The wallet currently allows users to hold, transact and make payments in ethereum and all ERC-20 standard tokens and stablecoins, as well as collectibles such as CryptoKitties via the ERC-721 standard.
The Opera website says the wallet can automatically detect and list any ERC-20 tokens used in ethereum dapps, such as in-game currencies.
Dapps can be accessed by typing their address directly in the browser, avoiding the need to use third-party extensions
In order to start using dapps, users will need to purchase ethereum (ETH) and store it in the Opera wallet. Once there, a selection of dapps will be listed in the store in the app, the post says.
JPMorgan to Start Customer Trials of Its ‘JPM Coin’ Crypto
JPMorgan Chase is to start trials of its “JPM Coin” cryptocurrency in conjunction with corporate clients.
According to a report from Bloomberg Japan on Tuesday, Umar Farooq, the investment bank’s head of digital treasury services and blockchain, said that customers would trial the technology with the ultimate aim of speeding up transactions, such as payments between firms and bond transactions.
The trials are being conducted on the assumption regulatory permission will ultimately be granted, according to Bloomberg.
First revealed in February, JPM Coin initially runs on top of Quorum, a private version of ethereum developed by the bank.
JPM Coin will function as a stablecoin, with fiat cash being deposited at the bank in exchange for the token, which can then be transferred via a permissioned distributed ledger. The recipient can later redeem the token for cash from JPMorgan.
Initially linked to the U.S. dollar, the coin is expected to be extended to other fiat currencies in time. Real-world trials were expected in “a few months,” according to a report at the time.
Discussing JPM Coin’s state of development, Farooq told Bloomberg in today’s report: “The technology is very good, but it takes time in terms of licensing and approval. It must be explained.”
As well as inter-firm remittances, he said that the cryptocurrency could be used to settle bonds and commodities transactions. Clients in regions including Europe, the US and Japan have already shown interest, according to Farooq. He would not name any companies involved in the upcoming trials, the report states.
Russia May Allow Crypto Trading in Upcoming Legislation: Official
As Russia’s cryptocurrency bill slowly inches forward, a government official has hinted at what may lie ahead when the legislation is finally passed.
According to a report from local news source Interfax.ru, Deputy Finance Minister Alexei Moiseyev told journalists on Friday that among the options currently being discussed is to allow the buying and selling of cryptocurrencies. Crypto payments are not on the table, however.
Worryingly for the country’s crypto community, the bill could still see cryptocurrency use banned outright.
Moiseyev said that the finance ministry had met with the Russian central bank and the Federal Security Service, the nation’s security agency, to discuss the bill.
“There is a range [of possibilities] from prohibition to the possibility of purchase,” he explained. “Like with foreign currency, it would be possible to buy and sell [cryptocurrencies], but impossible to use them for payments. After a political decision is made on this issue, we will have the responsibility.”
Russia’s bill on digital financial assets was expected to be considered at the plenary session of the State Duma on March 19, but was postponed.
According to the report, Anatoly Aksakov, head of the Duma Financial Market Committee, has said that Russia must adopt a bill on cryptocurrency before the end of this year in order to comply with recommendations from international watchdog, the Financial Action Task Force (FATF).
In related news, FATF announced new standards on Friday that include a controversial requirement that “virtual asset service providers,” including crypto exchanges, pass information about their customers to one another when transferring funds between firms. Its 37 member nations are not obliged to apply its guidance, but non complying countries can be blacklisted, which would be harmful financially.