Bitcoin
BTC$69 754.66

-1.09%

Ethereum
ETH$3 535.01

-1.36%

Tether
USDT$1.000194

0.06%

Binance Coin
BNB$612.93

4.06%

Solana
SOL$183.87

-1.70%

XRP
XRP$0.614215

-1.52%

Social media giants going crypto


04 Mar 2019

Social media giants going crypto - Even Facebook plans to issue its own coin


It appears that predictions of cryptocurrencies going big in 2019 may not have been entirely wrong. While the prices of different coins are still struggling to even reach stability and are constantly having to fight off the bears — things appear to be quite positive in other aspects.

For example, cryptocurrencies continue to advance on their way towards mass adoption. Recent reports claim that even social media giants such as Facebook, Instagram, Signal, and others are also joining the trend. Some of them may even roll out their own coins in the following year. If their efforts result in success, social media platform users may soon find themselves capable of sending coins as easily as instant messages.

Facebook is particularly interesting in this regard, as the company is allegedly silently working on its own coin which will be used on its WhatsApp messaging application. This would allow WhatsApp users to send funds instantly to pretty much anyone in their contact list, no matter where in the world they are.

Facebook has, reportedly, already in conversations with a number of crypto exchanges in an attempt to find the best way to deliver its future coin to its users and future consumers.

Other large platforms are apparently doing the same, with one example being Telegram, which has around 300 million users, and another one being Signal. If all of these projects end up seeing the light of day, Facebook and Telegram may even develop their own digital wallets which would likely make cryptocurrencies available and approachable to millions of new traders and investors.

Facebook plans to implement blockchain


As mentioned, these new cryptocurrencies will likely have a similar purpose as Bitcoin itself — to act as digital cash, and quickly move money. However, unlike bank transfers, these transactions will be nearly instant, even when it comes to international payments.

Furthermore, they will likely have more advanced solutions than Bitcoin when it comes to mining. Facebook, in particular, started researching the best ways to leverage blockchain across the platform a long time ago, according to Facebook Messenger's David Marcus who wrote about it last year. In one of his blog posts, Marcus mentioned that he is creating a small group of researchers dedicated to this very goal.

Additionally, Facebook also promoted its senior engineer, Evan Cheng, to the position of Director of Engineering in the company's Blockchain division. The move shows how important this project is to Facebook. Even the company's CEO, Mark Zuckerberg himself, stated that users would soon be able to log into the platform via a new authentication system which will be based on blockchain technology.

Zuckerberg admitted to not being sure how to go about it, but he clearly stated that his intention is to move towards decentralized or blockchain authentication. Blockchain will also grant users more power when it comes to providing access to their data - a problem that Facebook is very much aware of due to several privacy and security incidents in previous years.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 76.8% 42 $69 754.66 -1.09% 6.48% $1 371 888 833 628 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 76% 50 $3 535.01 -1.36% 1.94% $424 450 793 358 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 95.6% 1 $1.000194 0.06% -0.04% $104 524 593 624 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 60% 80 $612.93 4.06% 5.41% $91 655 208 219 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 61.6% 88 $183.87 -1.70% 4.28% $81 714 371 355 SOL 7 days price change
6 XRP (XRP) XRP XRP predictions 82.4% 28 $0.614215 -1.52% -2.68% $33 710 727 268 XRP 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 94% 2 $1.000074 -0.01% 0.01% $32 492 535 488 USDC 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 70% 66 $0.214300 5.97% 33.42% $30 787 198 559 DOGE 7 days price change
9 Cardano (ADA) ADA Cardano predictions 68.8% 66 $0.640124 -1.59% 1.35% $22 778 196 412 ADA 7 days price change
10 Avalanche (AVAX) AVAX Avalanche predictions 59.6% 87 $53.33 -2.25% -4.02% $20 127 136 651 AVAX 7 days price change
11 SHIBA INU (SHIB) SHIB SHIBA INU predictions 56.8% 94 $0.000031 -1.21% 11.54% $18 130 400 221 SHIB 7 days price change
12 Toncoin (TON) TON Toncoin predictions 61.6% 87 $4.82 -1.67% 9.28% $16 725 712 566 TON 7 days price change
13 Polkadot (DOT) DOT Polkadot predictions 75.2% 49 $9.42 -1.36% 2.16% $13 443 984 853 DOT 7 days price change
14 Bitcoin Cash (BCH) BCH Bitcoin Cash predictions 68% 58 $594.45 5.76% 45.07% $11 700 102 719 BCH 7 days price change
15 Chainlink (LINK) LINK Chainlink predictions 78% 42 $18.85 -4.45% 3.53% $11 064 692 457 LINK 7 days price change

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