Shapeshift Launches Decentralized Portfolio Platform Prism

portfolioToday at the Consensus Conference in New York City the Shapeshift founder and CEO Erik Voorhees has announced the launch of Prism, a “trustless asset portfolio platform”. The Swiss blockchain technology company says investors of all types looking to build a portfolio can do so using the decentralized digital asset holding application. Also read: The Case for

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Today at the Consensus Conference in New York City the Shapeshift founder and CEO Erik Voorhees has announced the launch of Prism, a “trustless asset portfolio platform”. The Swiss blockchain technology company says investors of all types looking to build a portfolio can do so using the decentralized digital asset holding application.

Also read: The Case for Using mBTC Over BTC Denominations

Shapeshift Launches Prism – the Decentralized Digital Asset Portfolio Without Third Party Risk

Shapeshift Launches Prism the Decentralized Portfolio PlatformLaunched today, the Prism platform provides users with the ability to secure a basket of cryptocurrencies without exposure to third party risk. The platform is built using Ethereum-based smart contracts that enable investors to construct a crypto-portfolio with a broad range of cryptocurrencies to choose from including Bitcoin, Litecoin, Monero, and Ripple.

Shapeshift says bitcoin and altcoins as an alternative investment have grown exponentially over the past two years, as the combined market cap has expanded over 200% in the past year to over $40 billion, explains the company. Prism will forward the cryptocurrency fever by offering the first live platform in a trustless environment dedicated to the users’ crypto-asset portfolio.

“Prism enables investors to gain secure, transparent exposure to digital assets in a way that has never before been possible. The days of leaving funds at an exchange ‘because it’s easier’ are over,” Erik Voorhees, CEO of ShapeShift detailed during the announcement.

Prism’s digital asset portfolios, built entirely on non-custodial smart-contracts, demonstrates a new standard in financial security.         

A Diversified Crypto-Portfolio That Competes With Other Prism Investors

The company says that it has used its proven model from the Shapeshift design to build Prism. The new platform is a “diversified crypto-portfolio that was distilled down into a simple interface: buy, rebalance, and settle, all of which the user can execute with nothing more than their Ethereum wallet,” explains the Swiss startup.

Shapeshift Launches Prism the Decentralized Portfolio Platform

Moreover once a Prism portfolio has been created it is positioned on a leaderboard competing with other Prism users based on investment performance. Furthermore, users can learn from top traders and copy their portfolio choices as well by visiting the public Prism performance leaderboards.

Prism Aims to Open a Whole New World of Borderless Finance

After creating a name for a personal Prism portfolio, users choose from a wide range of digital assets and determine how to split their investments. The investor then provides an Ethereum address that enables them to fund and track their Prism assets. The address gives Prism users proprietary control over their funds and the ability to track the investment vehicle via the Ethereum network. Shapeshift says the following ether wallets have been tested and vetted for use on the Prism platform Exodus.ioJaxx.io and Myetherwallet

If an investor wants to close out their Prism account, they are asked to send a zero ETH transaction to a provided Ethereum address that will signal the smart contract to close the portfolio. If the Prism’s components went up 20%, the investor will receive 20% more Ether back than they put in, minus displayed fees.

Prism takes us one step closer to a world of truly borderless finance. We suspect it will kickstart a vast horizon of financial experimentation upon smart contracts,” concluded Voorhees.

What do you think about the Shapeshift’s new portfolio platform? Let us know in the comments below.  


Images via Shutterstock, Shapeshift, and Prism websites.  


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BitPay vs Coinbase vs GoCoin

In the world of cryptocurrency payment processors, there are quite a few companies to choose from. Most people know BitPay, as it is the leading Bitcoin payment processor. One should not discount Coinbase or GoCoin either, as both companies have a solid track record. Now is a good time to compare all three companies and see what they have to offer. 3. BitPay When it comes to processing Bitcoin payments, BitPay is a solid choice. The company has a good reputation and provides a service at affordable rates. Do keep in mind there is a 1% surcharge for all transactions,

In the world of cryptocurrency payment processors, there are quite a few companies to choose from. Most people know BitPay, as it is the leading Bitcoin payment processor. One should not discount Coinbase or GoCoin either, as both companies have a solid track record. Now is a good time to compare all three companies and see what they have to offer.

3. BitPay

When it comes to processing Bitcoin payments, BitPay is a solid choice. The company has a good reputation and provides a service at affordable rates. Do keep in mind there is a 1% surcharge for all transactions, though. Merchants can convert incoming payments to fiat currency directly if they want to do so.

Additionally, companies such as BitPay provide all of the necessary tools to process Bitcoin payments securely. Moreover, it is a good solution for anyone who expects a lot of incoming Bitcoin transactions in the future. Unfortunately, their service is limited to Bitcoin only, which could be a bit of a drawback.

2. Coinbase

Similarly to what BitPay provides, Coinbase offers Bitcoin merchant services to users all over the world. They also charge a 1% fee for incoming transactions, and users can convert (a portion of) the incoming payments to fiat currency if they want to. Most people are familiar with Coinbase because of the company being a cryptocurrency exchange primarily.

For now, Coinbase also only supports Bitcoin for merchant transactions, despite the trading platform supporting multiple currencies. It is unclear if Ethereum and Litecoin payments will ever come to the merchant service, though. On the upside, the company also provides a convenient wallet service for all users, which means one can store incoming Bitcoin transfers in BTC on the same platform.

1. GoCoin

Cryptocurrency enthusiasts often tend to overlook GoCoin, despite the company providing some exciting merchant tools. It is the only payment processor on this list to support currencies other than Bitcoin. GoCoin allows anyone to accept Litecoin and Dogecoin payments as well. That is quite significant since both of these currencies are still very popular these days. GoCoin also charges a 1% transaction fee for all payments, which is in line with the other companies.

It is quite interesting to see so few companies accept payment methods other than Bitcoin. People who want to attract a lot of cryptocurrency customers may want to look into what GoCoin has to offer for sure. Accepting Litecoin, especially since the network activated Segregated Witness, can be one of the smartest business decisions. GoCoin is a company no one should overlook by any means.

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Token Crowdsale for NVO Decentralized Exchange

NVO’s goal is to remove the need for a third party to hold customers’ assets, proposing instead a P2P model for exchanging cryptocurrencies. The project was first envisioned by the NVO team after observing how the current ecosystem fails to meet the needs of the market. When presenting Bitcoin to the world in 2008, Satoshi … Continue reading Token Crowdsale for NVO Decentralized Exchange

The post Token Crowdsale for NVO Decentralized Exchange appeared first on NEWSBTC.

NVO’s goal is to remove the need for a third party to hold customers’ assets, proposing instead a P2P model for exchanging cryptocurrencies. The project was first envisioned by the NVO team after observing how the current ecosystem fails to meet the needs of the market. When presenting Bitcoin to the world in 2008, Satoshi … Continue reading Token Crowdsale for NVO Decentralized Exchange

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