First offline system for cryptocurrencies

The number one cryptocurrency, which is Bitcoin fell below $10,000. For the last couple of days, Bitcoin was unable to strengthen its position. During this week, Bitcoin struggled to move higher; as a result, it broke the resistance level and fell to $9,858.

At the moment, this is the price of Bitcoin. It is important to mention that the next resistance level for Bitcoin is to surpass the $10,000. However, this may become an issue due to the ongoing situation.

Even though Ethereum’s price decreased a little bit on Thursday, it is still above $200. Yesterday, its price even reached $218 which is the best result since the beginning of the month. However, Ethereum was unable to hold the momentum, and the price fell below $210. Right now, Ethereum’s price is $208.

Litecoin’s price is 74.81. It managed to surpass the resistance level above the $72 and $75. Nevertheless, it couldn’t continue the same way, and the price is less than $75.

The Israeli startup and cryptocurrencies

Israeli cybersecurity startup GK8 developed the first offline system for transacting digital currencies. It is interesting to have a look at the company which developed first such system in the world.

The cybersecurity startup dates back to 2018 when two members of an Israeli defense unit created this startup. It is worth mentioning that even this startup was founded in 2018 it already attracted the attention of the investors. The GK8 raised $4 million in a funding round which is a great result. Also, one of the investors is the third largest bank in Israel which is Discount Bank. A subsidiary of the Discount Bank which is the Discount Capital organized a funding round which helped GK8.

According to the startup, this offline system can record transactions on a blockchain without an internet connection. This is possible, thanks to the “unidirectional connection.”

The digital asset trading platform eToro is already using this system. This shows that this invention has the ability to transform the cryptocurrency market.