Young Platform Blog

Discover how Young Platform will act to reduce trading risks during the hard fork on 15 November 2020

Around 12:00 PM UTC on 15 November 2020 the Bitcoin Cash blockchain will be subjected to a hard fork.

This fork was a planned update, although it is contested by the implementation of the BCHA (Bitcoin Cash ABC) node which proposes a developer fee of 8% on the reward per block of miners. BCHN (Bitcoin Cash Node) will proceed with the proposed routine upgrade and will not support the block reward fee.

We do not believe this fork to be similar to the BCH 2017 fork or the BSV 2018 fork. This fork, on the contrary, does not seem to have the support needed to survive. At the time of writing this release, BCHN (Bitcoin Cash Node) – which will continue the current BCH consensus – has over 75% support from the miners.
By contrast, BCHA (Bitcoin Cash ABC), the instigator of the fork, has less than 1% support from the miners and about 24% is undecided so far.

We believe that most undecided miners will only follow the existing chain (BCHN) and that there is really no chance for BCHA to have a productive life or value. We hope that the BCHA team decides to call off the potential fork before it happens, but even if they do not, we see a very low chance of a surviving chain.

Young’s approach to fork management

To reduce trading risks caused by price volatility and to maintain the security of users’ funds during the hard fork, Young will manage the hard fork as follows:

• All transactions for BCH on Young Platform and Young Platform Pro will be suspended from 9pm on 14 November 2020. Withdrawal, deposit, purchase and sale operations involving Bitcoin Cash are therefore on hold.
• Should you wish to make a deposit and withdrawal operation at this time, we ask you to allow sufficient time for full processing of the transactions before the above time.
•  Transactions will be resumed on Young Platform and Young Platform Pro from 12 am (noon) on Monday 16 November 2020. Any updates will be communicated via e-mail and to the Discord server.

Discover COMP on Young Platform Pro, the altcoin in loan pools

Young is pleased to announce the listing of Compound (COMP), one of the emerging DeFi protocols.

What’s Compound?

Compound is a protocol based on the Ethereum blockchain that allows you to grant and subscribe loans without the need for a financial intermediary.

How do loans on Compound work?

Users can deposit their cryptocurrency in loan pools to allow access to borrowers. Once they have made the deposit they receive a reward in cToken. For example, if they deposit ETH they will receive cETH, if they deposit DAI they receive cDAI and so on.

What is COMP?

To encourage this lending activity, Compound uses another cryptocurrency native to the protocol known as COMP.

Each time users interact with the Compound market – i.e. take out, give or repay a loan – they receive a reward in COMP.

Hello to STORJ and BAT the new altcoin on Young Platform Pro

Two innovative cryptocurrencies are now available on Young Platform Pro: Storj (STORJ), the token of a decentralised storage cloud, and Basic Attention Token (BAT), which has the purpose to protect copyrights and reward content creators.

What is Storj?

Storj is a decentralised cloud storage platform that allows any computer to rent its excess storage space to those who need it. 

STORJ is the token coordinating the network stakeholders and is the main means of payment within the platform.

Users who need storage space, in fact, can buy it in STORJ and, in turn, suppliers, receive STORJ as a reward for the excess space they have.

To do this, Storj launched Tardigrade, a decentralised cloud storage solution where users can securely store their files.

What is BAT?

Basic Attention Token is a utility token built on the Ethereum blockchain, designed to make digital advertising fairer and more transparent. 

The token is used to correctly assess the user’s attention within the platform, to pay publishers for their advertising space and even to reward users for watching or clicking on their ads.

To fulfil its mission, the BAT ecosystem relies on Brave, an open-source privacy-oriented browser designed to block trackers and malware. Brave leverages blockchain technology to anonymously and securely track user interests and reward publishers accordingly.

Buy BAT on Young Platform

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Discover the DeFi tokens on Young Platform Pro: decentralised finance is an alternative

Young is always happy to bring its users new mission-oriented projects, that’s why from today many DeFi tokens will be supported on Young Platform Pro. Trading and custody are now available for these seven tokens, which are completely new to our ecosystem: Uniswap (UNI), Curve (CRV), Synthetix (SNX), Chainlink (LINK), Augur (REP), Gnosis (GNO) and Kyber (KNC).

We are firmly convinced that the greatest power of the blockchain lies in its decentralised nature. That is why DeFi, i.e. Decentralised Finance has all the resources to institutionalise the world of cryptocurrency, representing an increasingly powerful alternative to traditional banking services.

Uniswap (UNI)

Uniswap is a decentralised exchange, known for facilitating automated DeFi token trading. UNI is the governance token of the network and is an ERC-20 token. As a governance token, it is used to make decisions and authorise transactions on the Uniswap network.

Curve (CRV)

Curve is a decentralised exchange for stablecoins, governed by a DAO, i.e. a decentralised organisation. The native token of the Curve ecosystem is the Curve DAO token (CRV). Launched in January 2020, Curve experienced significant growth in the second half of 2020.

Synthetix  (SNX)

Synthetix is an Ethereum blockchain-based protocol that allows users to bet on various external assets by trading and issuing synthetic assets in a process known as “collateralisation”.
Each of these assets is an ERC-20 token that reflects the price of external assets such as, for example, the dollar price. These assets are created by staking the network token, the Synthetix Network Token (SNX).

Chainlink (LINK)

Chainlink is a decentralised network that connects smart contracts with the outside world through “oracles”, external data providers. LINK, the token operating on the network based on the Ethereum blockchain, is the top DeFi token by market capitalisation. Chainlink is also available on Young Platform.

Augur (REP)

Augur is a betting platform based on the Ethereum blockchain which, through the use of its own token, the REP, allows you to create and participate in prediction markets. If the prediction made is correct you win REP, otherwise, you lose them.

Gnosis (GNO)

Gnosis is a prediction market used to gather forecasts from experts and people around the world to help anticipate future events. Gnosis is based on two tokens: OWL and GNO. GNO is an ERC-20 token that is obtained as a reward for a correct prediction.

Kyber Network (KNC)

Kyber is the most widely used liquidity protocol in the DeFi world that can be integrated into any application to allow the exchange of tokens without the need for an intermediary. Kyber Network Crystals (KNC) is the ERC-20 utility token of the network. KNC owners can stake their tokens on KyberDAO and vote on various proposals concerning the development and operation of the network and receive a reward in ETH.

New altcoin on Young Platform: Dash and EOS! You will love them for fast transitions and dApps

Dash (DASH)

Young is pleased to announce support for Dash (DASH), one of the world’s most widely used alternative cryptocurrencies. 

What is Dash (DASH)?

Dash is an alternative to Bitcoin that offers the possibility to make transactions in a private, fast and cheap way.

Why Dash (DASH)?

Dash can process transactions faster than Bitcoin, making it a popular altcoin. 

Furthermore, it offers the possibility to send transactions anonymously by making the connection between sender and receiver untraceable.  

Will Dash (DASH) be available on both Young Platform and Young Platform Pro?

Yes, Dash will be listed on both exchanges.

Which Dash pairs will be available?

Young Platform:

DASH – EUR

DASH – BTC

Young Platform Pro:

DASH – EUR

DASH – BTC

EOS (EOS)

Today Young also lists EOS (EOS), the native cryptocurrency of EOS.IO, one of the most scalable blockchains on the market.

What is EOS (EOS)?

EOS is the cryptocurrency that powers EOS.IO, a blockchain designed to help developers build dApps quickly and without fees.

Why EOS (EOS)?

EOS, besides being of interest to those who want to build dApps, it also appeals to developers who have already launched dApps on other blockchains that, due to the user experience offered and the lack of transaction fees, consider it more convenient to switch to the EOS blockchain.

Will EOS (EOS) be available on both Young Platform and Young Platform Pro?

Yes, absolutely! EOS will be listed on both our exchanges.

Which EOS pairs will be available?

Young Platform:

EOS – EUR

EOS – BTC

Young Platform Pro:

EOS – EUR

EOS – BTC

Buy Eos (EOS) on Young Platform

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Thanks to its peg to the dollar, the price of Tether combines the stability of fiat currencies with blockchain technology. Discover how it works.

What is Tether (USDT)?

Tether (USDT) is a stablecoin, a cryptocurrency whose value replicates that of a fiat currency (such as the dollar or euro) or commodities like gold. The project’s name is derived from the English verb “to tether,” meaning “to tie.” Tether’s price is tied to the US dollar. Today, Tether is issued by Tether Ltd, a company based in Hong Kong.

Launched officially in 2014 under the name “Realcoin,” the project has its roots in Mastercoin, the first ICO ever developed. Tether was created by Brock Pierce, Craig Sellars, and Reeve Collins, the founders of Mastercoin. These three entrepreneurs are now well-known figures in the crypto universe. The USDT token was initially exclusively based on the Bitcoin blockchain via the Omni Layer Protocol. Over the years, due to Tether’s success within the Web3 community, the number of blockchains supporting USDT has expanded to include Ethereum, Algorand, and Solana. Soon, USDT will also be supported on the Polkadot blockchain.

What is USDT?

USDT is the token issued by Tether Ltd and is a multichain cryptocurrency, meaning multiple blockchains support it. As a stablecoin, USDT’s value was initially pegged to the dollar (USD): one unit of USDT equals 1 USD (following a 1:1 ratio). The issuance of USDT is backed by large reserves of fiat currencies, which aim to ensure the dollar peg and stability.

Why follow the price of Tether?

Tether is a stablecoin that plays a crucial role in decentralised finance (DeFi): the USDT token is used in numerous DeFi protocols (such as Aave, Solana, or UniSwap). USDT is used to transfer money and make payments worldwide and is currently one of the most widely used stablecoins. Tether (USDT) is one of the highest market capitalisation stablecoins along with USD Coin.

Additional information

• To learn more about Tether (USDT), visit the official website
• Check out the documentation
• Read the whitepaper
• For any questions, you can contact the Tether’s team
• Further Reading: Academy – Tether: the crypto-dollar

USDT in the context of MiCA

The entry into force of European Regulation No. 2023/1114 of 31 May 2023, relating to Markets in Crypto-assets (MiCA), marked a fundamental milestone for stablecoins and the digital asset market across the entire European Economic Area (EEA). The first block of the regulation came into effect on 30 June 2024, significantly impacting stablecoins. MiCA defines stablecoins into two main categories: Asset-Referenced Tokens (ART) and E-money Tokens (EMT), for which specific requirements are outlined in Articles 16 and 48 of the regulation. Additionally, on 25 June 2024, the Italian government approved a Legislative Decree to align the national regulatory framework with the MiCA Regulation, ensuring coordination with the existing sector regulations in Italy, particularly the TUB and the TUF.

Follow Tether (USDT) on Young Platform

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Disclaimer

This marketing communication is issued by Young Platform S.p.a., an authorised cryptocurrency exchange and a registered digital asset service provider in France (Prestataire de Services sur Actifs Numériques – Autorité des Marchés Financiers) and in Italy (Operatore Valute Virtuali (PSV1) – Organismo Agenti e Mediatori).

Young Platform S.p.a. is not responsible for such content nor for any errors contained within it or actions taken in relation to it. The content of the news and third-party reviews or opinions is provided for informational purposes only and should not be considered investment advice. This information does not constitute a recommendation to purchase or sell a particular digital asset or an investment strategy. Young Platform S.p.a. makes no warranties as to the accuracy, suitability, or validity of the information provided or any particular asset. Prices are provided for illustrative purposes only and may vary. The data presented may reflect assets traded on the Young Platform S.p.a. platform and on selected other cryptocurrency exchange platforms.

Young Platform list Bitcoin Cash, the cryptocurrency that allows lower fees thanks to multiple transition in a block

Young is pleased to announce that starting today you’ll be able to purchase and sell Bitcoin Cash (BCH) one of the main cryptocurrencies on the market, on the Young Platform exchange.

Bitcoin Cash was launched on August 1st, 2017, the brainchild of the well-known Bitcoin community member: Roger Ver. A number of Bitcoin miners, led by Ver, proposed to increase the block size to 8MB so that more transactions could be included in each block. However, not the whole community accepted this proposal and a hard fork occurred. Currently, BCH is the sixth cryptocurrency, with a capitalisation of over 4.5 billion Euros.

Why did Young Platform decide to list Bitcoin Cash (BCH)?

Since it is one of the main cryptocurrencies, Young’s community strongly wanted this new coin: that’s why from today Bitcoin Cash (BCH) is finally available on our platform!

How much is 1 Bitcoin Cash (BCH) worth?

Currently, 1 Bitcoin Cash (BCH) is €250.00.

What is the total number of Bitcoin Cash (BCH) on the market?

There are currently 18,500,000 BCH on the market. As for Bitcoin, the maximum number of BCH that will be issued is 21 million.

What is the maximum value reached by Bitcoin Cash (BCH)?

On December 20, 2017 Bitcoin Cash (BCH) reached its all-time high of 3645 Euro.

Which Bitcoin Cash pairs will be available on Young Platform?

BCH/EUR

BCH/BTC

What are the fees for BCH?

Trading fees for BCH range from 2.5% to 1.35%:

Euro – BCH: 2.5%

Bitcoin – BCH: 1.35%.

The story of Bitcoin Cash: its founder

Roger Ver is a famous investor and one of the first Bitcoin adopters. He has invested millions of dollars in several emerging startups operating in the cryptocurrency world, including Ripple, Z.Cash, Blockchain.com, Bitpay, Purse.io and Kraken. He is also the CEO of Bitcoin.com and one of the five founders of the Bitcoin Foundation, to which he has also donated more than $1 million in Bitcoin. Ver sees Bitcoin as a way to achieve economic freedom. In the crypto community, he is also known as Bitcoin Jesus.

Ver has described Bitcoin Cash as the “real Bitcoin“, stating that in the near future the cryptocurrency will have a market capitalisation, trading volume and a larger user base than its big brother. It also appears that most of Ver’s funds are now in Bitcoin Cash, perhaps the most important indicator of his confidence in this currency.

The main features of Bitcoin Cash

 With Bitcoin cash we are in the presence of a cryptocurrency based on four key features

• Decentralisation: the network is fully distributed
• Peer-to-Peer: you can send Bitcoin Cash directly from A to B without intermediaries
• Security: it uses sophisticated encryption systems to prevent hacking, fraud and attacks
• Transparency: all transactions are available on the Bitcoin Cash blockchain, accessible and verifiable by everyone

For its supporters, Bitcoin Cash is a more convenient cryptocurrency than traditional Bitcoin: since blocks go from 1 to 8 Mb, Bitcoin Cash allows you to process many more transactions in a block. As a result, larger transaction volumes can be processed faster with lower fees. Plus, because the level of difficulty inherent in Bitcoin Cash’s mining activities varies depending on how many miners are active on the network, many of which have migrated to Bitcoin Cash, this allows them to generate higher profits at a faster pace.

50% discount on fees for BCH!

To celebrate the listing of Bitcoin Cash, Young decided to halve the fees to buy and sell BCH!

Buy BCH on Young Platform

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Young Platform’s exchange is expanding and welcoming stablecoins, the cryptocurrencies that aim to defeat market volatility. Now, the turn of Dai, Maker’s stablecoin, reflects the US dollar price.

What is MakerDAO?

The Dai stablecoin was developed and launched in 2017 by MakerDAO, one of DeFi’s longest-running and most popular projects on Ethereum. In line with the DeFi philosophy, the Maker project is managed decentralised via a decentralised autonomous organisation (DAO) and is, therefore, governed by its community. MakerDAO has developed its own token, Maker (MKR), and DAI, its stablecoin pegged to the dollar price.

What is DAI?

DAI is one of the first decentralised stablecoins in the crypto landscape. It replicates the value of the dollar in a 1:1 ratio. DAI maintains its peg to the dollar through a pool of cryptocurrencies, mainly ETH, USDC and WBTC. Unlike centralised stablecoins such as USDC, it does not use fiat currencies as collateral. DAI is designed to provide rapid access to decentralised financial services like lending.

Why follow the price of Dai (DAI)?

DAI is a fully decentralised stablecoin, which implies transparent project management. Decisions regarding the stablecoin are, in fact, taken collectively by the entire community through on-chain voting systems. DAI also ranks among the top stablecoins in terms of market cap. Thanks to its relative stability and retention of the dollar peg, it has, over time, become a popular stablecoin, chosen by many as an alternative to the volatile market.

Price of DAI July 2024: € 0,9314

Want to know more?

• To learn more about Dai (DAI), visit the official website
• Check out the documentation
• Read the whitepaper
• For any questions, you can contact the Maker DAO’s team
• Further Reading: Academy – Dai: the stablecoin for decentralised lending

Dai in the context of MiCA

The European Regulation No. 2023/1114 entry into force of 31 May 2023, concerning the Markets in Crypto-Assets (MiCA), marked a significant milestone for stablecoins and the digital asset market throughout the European Economic Area (EEA). A first block of the regulation came into effect on 30 June 2024, significantly impacting stablecoins. MiCA defines stablecoins in two main categories: ART (Asset-Referenced Tokens) and EMT (E-money Tokens), for which specific requirements are provided in articles 16 and 48 of the regulation. Furthermore, on 25 June 2024, the Italian government approved a Legislative Decree to adapt the national regulatory framework to the MiCA Regulation, ensuring coordination with existing sector provisions in Italy, particularly with the TUB and TUF.

Follow DAI on Young Platform

Buy now

Disclaimer

This marketing communication is issued by Young Platform S.p.A., an authorised cryptocurrency exchange and a registered digital asset service provider in France (Prestataire de Services sur Actifs Numériques —Autorité des Marchés Financiers) and Italy (Operatore Valute Virtuali (PSV1)—Organismo Agenti e Mediatori).

Young Platform S.p.A. is not responsible for such content or any errors present in the content or actions taken. The news content and third-party reviews or opinions are provided for informational purposes only and should not be considered investment advice. This information does not constitute a recommendation to buy or sell a specific digital asset or for an investment strategy. Young Platform S.p.A. makes no warranty regarding the accuracy, suitability, or validity of the information provided or a specific asset. Prices are indicated for illustrative purposes only and may vary. The data presented here may reflect assets traded on the Young Platform S.p.A. platform and other selected cryptocurrency exchange platforms.

Dai in Young Platform exchange: the most adoptded decentralized stablecoin in the cryptocurrency market

We are thrilled to have the opportunity to cooperate with MakerDAO to push comprehension and mass adoption of DeFi: we will educate the Italian audience about Maker’s stablecoin Dai through Young Academy and Stepdrop. Later on, we are also planning the integration of Dai in the Young ecosystem.

MakerDAO is one of the most innovative projects in the Decentralized Finance (DeFi) movement – a catch-all term for financial tools and services that don’t rely on centralized parties to coordinate and control access.

MakerDAO issues Dai, the world’s first unbiased currency and leading decentralized stablecoin on the Ethereum blockchain. Dai eliminates volatility through an autonomous system of smart contracts specifically designed to respond to market dynamics. Since its launch in 2017, Dai has successfully maintained a soft peg to the US Dollar (1 DAI ≃ 1$).

Price volatility is a major barrier for a massive amount of “everyday” users to continuously use blockchain applications. With a presence on numerous cryptocurrency exchanges, multiple partnerships with global companies, and agreements with organizations serving non-government agencies, Dai is right now the main and most adopted decentralized stablecoin on the market to solve this pain point and can therefore open the way to new scenarios.

We are very excited to start our journey in DeFi together with Maker since we believe DeFi has become one of the main trends in the crypto space with its huge potential of democratizing the financial system.