Callisto Network CLO

Market Cap $ 5.373 MM (#407)
24h Volume $ 31.334 K
Chg. 24h: -3.57%
Algo. score 2.7/5  (#839)
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Callisto Network News

We're glad to announce that CloakCoin is listed on @Stealthe...

We're glad to announce that CloakCoin is listed on @Stealthex_io Stealthex provides a modern cryptocurrency exchan…

a day ago

Will France Ban Privacy Coins?

Privacy-focused coins have long been controversial in the crypto world, as they have the ability to cloak a user’s... The post Will France Ban Privacy Coins? appeared first on Invest In Blockchain.

14 days ago

CEO Changpeng Zhao defends Binance’s recent delisting of altcoins

Binance recently delisted a couple of altcoins from its cryptocurrency trading platform. One of the reasons why Binance delisted these coins, it claimed, was that these coins did not meet the exchange’s standards. This decision by Binance faced a lot of criticism and created a misconception in the community. The CEO of Binance, Changpeng Zhao, addressed this issue in his latest Ask Me Anything [AMA] video. The CEO said that he wanted to clear the air about the delisting of Salt, Substratum, Modum, Wings, and CloakCoin and the delisting of other coins in the future. CZ stated, “Delisting has to be done... When we list projects we go for certain number of criteria and overtime certain projects might fall below their standards, when they do we have to delist them. The standard is pretty clear.” Referring to the 2017 article, “Binance Listing Tips,” Zhao also asked people to check the criteria a project should maintain to remain listed. He further added that there were many reasons which are considered before a project is delisted, and one of them was to check whether the project had product years after the ICO, or not. Touching on the insider information leak, CZ said, “We don’t give early notices for delisting, we don’t give three warnings, because when we do that the project team will have much earlier notice of when they will get delisted and some of them might even short their own coins. We keep very tight control over the information flow.” CZ continued, saying that prices of such coins don’t see huge movements before delisting, but only after delisting, implying that Binance was doing a good job of keeping the flow of information under control. The CEO also advised the project team to maintain contact with Binance and keep the exchange updated about the progress of the project. He also mentioned that delisting hurt not just the project, but Binance as well. A Twitter user @JBTheCryptoKing commented, “You are awesome for doing this. @cz_binance, appreciate you answering my questions and looking forward to trailing stop losses” The post CEO Changpeng Zhao defends Binance’s recent delisting of altcoins appeared first on AMBCrypto.

15 days ago

Binance to Continue Delisting Subpar Crypto Assets: Brutality of the 15-Month Bear Market

Binance CEO Changpeng Zhao reaffirmed his commitment to users yesterday by discussing the recent delisting of crypto assets from the platform. This took place via a live stream AMA on Twitter yesterday at 21:00 EST. In it, he covered a variety of Binance related news, including help for new projects via Launchpad, and challenges facing Binance this year. But from a broader investor perspective, his comments on failing projects brought to light a continuation of bearish sentiment. 1-Year Valuation of the Crypto Market (Source: Maintaining Crypto Standards Binance maintains a rigorous standard of policies to protect investors. And in the event of falling standards, the exchange has no choice but to delist a project. These standards are presented in their recent statement announcing the delisting of CLOAK, MOD, SALT, SUB, and WINGS. Zhao expands upon these points by talking about the importance of having a large user base and providing utility value. But most emphatically, with regards to delisting factors, he draws attention to poor communication, and lack of response to status inquiry updates. Clarifying this stance, the Binance CEO objectively stated: “When we list a project, we go for a certain number of criteria, and over time some projects might fall below that standard, and when they do we have to delist.” And while Zhao acknowledges the detrimental effects of delisting, he continues to maintain a position of upholding the greater good: “By delisting coins we realize that we hurt ourselves [and our users that hold that coin]. But the projects have to defend themselves, and most will go on with or without us.” The latter part of 2018 saw a multitude of delistings from exchanges including Binance, OKEx, Huobi, and Kucoin. This recent cull is further evidence of a continuing decline in standards across the entire industry. — Binance (@binance) March 5, 2019 The Ongoing Bear Market It’s clear that many cryptocurrencies will not survive the bear market. Exchange delistings will happen during tough times, but it’s still shocking to hear of significant projects struggling - which is symptomatic of deeper set issues throughout the market. In Substratum’s case, their announcement to day trade ICO funds to maintain capital was a significant blow. In his rebuttal to the delisting, Substratum CEO Justin Tabb was quick to deny any wrongdoing. However, this proved to be too little too late. Furthermore, with increasing regulatory pressure to legitimize the space, it’s inevitable that struggling projects will continue to fall out of favor. Binance Delisting Factors Explained #substratum $sub #cryptocurrency #bitcoin #blockchain #technology #decentralized — Substratum (@SubstratumNet) February 21, 2019 As one of the largest exchanges, Binance must maintain quality standards and a high level of integrity. Part of that is reducing the risk to investors by delisting projects that no longer meet those standards. While this is painful in the short-term, it is an excellent example of how the crypto-space is maturing. Exchanges have a responsibility to maintain standards. And by concentrating on listing and maintaining only high-caliber projects, a sustainable future is more likely. The post Binance to Continue Delisting Subpar Crypto Assets: Brutality of the 15-Month Bear Market appeared first on NewsBTC.

16 days ago

We're very pleased to announce a new wallet update! CloakCo...

We're very pleased to announce a new wallet update! CloakCoin v2.2.2.1 'rEVOLUTION' with ENIGMA Engine v1.2 for Wi…

17 days ago

We're very happy to announce the sixth episode of Around The...

We're very happy to announce the sixth episode of Around The Cloak, your monthly video update on progress and devel…

20 days ago

Binance CEO reveals BitTorrent [BTT] airdrop error; reassures users that ‘funds are SAFU’

The world of cryptocurrencies has seen a massive shift in sentiments after the recent bullish surge that enabled a lot of coins to climb up on the charts. The price hike also resulted in some cryptocurrencies changing ranks within the spectrum, with the main switch being EOS overtaking Litecoin [LTC] to become the fourth largest cryptocurrency. In the midst of this shakeup, Binance CEO Changpeng Zhao gave an update regarding a test on that resulted in changes in the amount of BTT tokens transacted in the airdrop. Source: Twitter The Chief Executive Officer of Binance claimed that the error from the tester’s side has only affected a few buyers, who in turn got a few extra BTT tokens. He also stated explicitly that ‘funds are SAFU’. One Twitter user @DAXPartners commented, “Haha not like is a problem to get some extra BTT.” To this comment, CZ replied, “ It is, some balances will be wrong. It’s being fixed now. Funds are #SAFU” Another user had no qualms about the error, stating, “Explains how my low bid got filled.” Changpeng Zhao pointed out that, ‘Secondary beneficiaries, one reason to use an exchange, I guess!” Tron’s BTT was also in the news recently when it was announced that the token will be paired with multiple stablecoins on Binance. The latest token from the Tron stables will be paired with stablecoins like Paxos, USD, and USDC. Ever the enthusiastic supporter of developments in the Tron ecosystem, Justin Sun, the CEO and Founder of Tron Foundation thanked CZ’s decision to add the pairs on Binance’s platform and also revealed another announcement. Sun tweeted, “#BTT will be listed on @MBAexOfficial, you can deposit #BTT at 12:00 on Feb 14, 2019(SGT), withdraw $BTT at 12:00 on Feb 22, 2019(SGT). BTT/BTC, BTT/USDT, BTC/MDP will be available at 12:00 on Feb 15, 2019(SGT). #BitTorrent $BTT #TRON #TRX.” Binance’s attempts to push cryptocurrencies into the mainstream realm and create an inclusive and safe environment was also evidenced when the exchange delisted CLOAK, MOD, SALT, SUB and WINGS. The company reasoned that the move was done over issues with commitment of the team, evidence of unethical/fraudulent conduct and level and quality of development activity. The post Binance CEO reveals BitTorrent [BTT] airdrop error; reassures users that ‘funds are SAFU’ appeared first on AMBCrypto.

a month ago

Binance Ceases Trade of Cryptocurrencies CLOAK, MOD, SALT, SUB, and WINGS

On February 15, 2019, Binance announced that it has decided to cease tradings and transactions with five tokens - CLOAK, MOD, SALT, SUB and WINGS. Reasons for the Delisting In their press release, Binance argues that according to their standards and performance criteria these five coins and tokens are no longer suitable for trade. TheRead MoreRead More. The post by Priyeshu Garg appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News

a month ago

Binance Delisting: Why were SALT lending, Substratum and others delisted from Binance?

Binance, one of the world’s top cryptocurrency exchanges announced on Friday that they will be delisting five altcoins, CLOAK, MOD, SALT, SUB and WINGS. Binance’s reasons for such delisting were articulated in their blog and included, commitment of the team to project, level and quality of development activity, evidence of unethical/fraudulent conduct, among other reasons. This isn’t a surprising development however as some of the delisted tokens do have a very dodgy history. Below is a small collection of facts that could have contributed to Binance’s decision to delist the select tokens. SALT The SALT token has quite a history since it once came under the SEC’s radar in February 2018 when it was subpoenaed for allegedly distributing securities tokens to insiders and seeking information on the $50 million it raised during its ICO. Moreover, as per the data obtained from CoinMarketCap, it can be seen that the price of SALT fell from approximately $18 to a low of $1 and the company were forced to remove the option of paying principal to the loans using SALT tokens. This was a major concern since SALT tokens were fixed at a constant retail price, marked much higher than the market value of the tokens. The price of SALT has suffered a huge blow due to the delisting announcement by Binance. The token which was trading at $0.21 has collapsed massively in a single hourly candle to the bottom and was trading as low at a low of $0.17, which is a decrease of 19%. Considering that Binance is the major contributor to trading volume for SALT [~70% via trade pairs SALT/USDT, SALT/BTC], the actual delisting might cause another huge blow to the trading volume as well as the price. SUBSTRATUM Substratum has also received a lot of negative publicity ever since the ICO ended. Brian Li had reported that there were discrepancies in the ICO funds collected, soon after it ended. His report also suggested that tokens including 2.5 BTC, 702 BCH, 1142 ETH, and 35 LTC were missing from the ICO funds. This report was made worse after he mentioned that the CEO of Substratum was able to afford a ‘$400,000 home and a bunch of new toys in the first week of October 2017″. Moreover, the fact that Substratum’s Founder, Justin Tabb, admitted to using the funds raised through ICO in his trades, for a company that is trying to decentralize the internet raises a huge red flag. The price for SUB followed the same course as SALT, as it fell from $0.044 to $0.026, which is a decrease of 40.9% within a span of a couple of hours of the announcement. The post Binance Delisting: Why were SALT lending, Substratum and others delisted from Binance? appeared first on AMBCrypto.

a month ago

Binance and KuCoin Delist Substratum Once Again, Giving Rise to Questions for Investors

Yesterday, Binance announced that it would delist SUB, CLOAK, MOD, SALT, and WINGS by 22. Following this news, Substratum plunged 38% as approximately 97% of its trading volume was on Binance. This news has also caused worry among investors as some of them believe the Substratum ecosystem is falling apart as its team is trading ICO funds. The Substratum team tweeted an acknowledgement note to show its users that it would continue with its operations. Binance stated that it arrived at this decision due to lack of communication with the Substratum team among other reasons. (VK)

a month ago

Binance Kicks Another Five Altcoins Out, Prices Crash

Binance Kicks Another Five Altcoins Out, Prices Crash Source: iStock/PJPhoto69 Major cryptocurrency exchange Binance has decided to delist another five coins on February 22, prompting sell off. The coins that are being delisted are CloakCoin (CLOAK), Modum (MOD), SALT (SALT), Substratum (SUB), and Wings (WINGS). “At Binance, we periodically review each digital asset we list

a month ago

How Tokens Die: Binance Is Delisting 5 Troubled Projects

Early this morning U.S. time, Binance announced it will delist five crypto tokens: CloakCoin, Modum, SALT, Substratum, and Wings. All except for CloakCoin were issued in fundraising ICOs. The delistings will be effective February 22, giving holders another week to sell their holdings if they wish. Withdrawals of the tokens will be available until May […]

a month ago

New batch of Binance delistings includes SUB and SALT

Binance plans to remove several crypto assets from its exchange, in order to uphold its current statedly-high standards. Binance due diligence In an announcement on its support page on February 15, Binance revealed it will no longer host trading for Substratum (SUB), SALT (SALT), CloakCoin (CLOAK), Modum (MOD), and Wings (WINGS). As far as reasoning goes, the exchange explained it’s due to a perpetual evaluation of all currently-listed projects. Binance has a set level of expectations for each asset it hosts. “When a coin or token no longer meets this standard, or the industry changes, we conduct a more in-depth review and potentially delist it. We believe this best protects all of our users,” the cryptocurrency exchange said in the announcement. Some of the aspects Binance takes into consideration prior to extracting assets include: Commitment of team to project Level and quality of development activity Network / smart contract stability Level of public communication Responsiveness to our periodic due diligence requests Evidence of unethical / fraudulent conduct Contribution to a healthy and sustainable crypto ecosystem” Binance examined the five crypto assets and deemed them for eviction from its platform. All SUB, SALT, CLOAK, MOD and WINGS trading will be terminated on February 22, 2019 at 10 am UTC. The exchange has also specifically said that it will pull all trade orders following each pair’s trading stoppage. “To view your assets after trading ceases, please ensure you have not selected ‘Hide small assets’ in your Funds page,” an official statement added. Users can also still withdraw the specified assets from Binance until May 22, 2019, at 10 am UTC. The cause for removal Crypto YouTuber Rob Paone, aka CryptoBobby, had a few insights on the situation in his video highlighting the news. In general, Paone said a lack of trading volume might be a reason for these delistings. Speaking on Substratum, however, he showed a lack of surprise regarding the asset’s removal. “Substratum came out and they were talking about a bunch of different things with trading their treasury balance, and the CEO had talked in a conference before about pump and dump groups. All types of stuff that just gives me the heebie-jeebies,” Paone said. Back in December 2018, Substratum’s CEO Justin Tabb explained in a YouTube video that the project cashed out multiple ethereum positions (from its war chest of funds) based on market price forecasts. Continuing to explain Substratum’s path moving forward (which statedly was included in its white paper), Tabb said: We are going to not cash-in, but begin basically attempting to trade up so that we can further our position as long as possible. Obviously, this bear market is hard on everybody We’re taking advantage of the trader that we have in full-time. And we are going to be actively trading a portion of the ethereum so that we can trade up, basically. So we can sell at the top of the bands and buy at the bottom of the bands.” As logically expected, most of the mentioned assets have seen a considerable fall in price, likely associated with the news. According to CoinMarketCap at the time of this writing, SUB has fallen 30% over the last 24 hours. Furthermore, CLOAK has declined by about 24%, and MOD is down almost 32%. The post New batch of Binance delistings includes SUB and SALT appeared first on Crypto Insider.

a month ago

Principais notícias sobre criptomoedas desta sexta-feira

Por: Livecoins Para saber o que está acontecendo no mercado cripto nesta sexta, o Livecoins preparou um relatório das principais notícias que chegam ao mercado, confira a seguir. O banco central do Irã está trabalhando com um par de startups blockchain que estão desenvolvendo o que poderia ser a base para um novo ecossistema de token. A principal empresa de telecomunicações da Coreia do Sul, a KT Corporation, foi selecionada para desenvolver uma criptomoeda local na cidade sul-coreana de Gimpo. Os legisladores do Luxemburgo aprovaram, no dia 14 de Fevereiro, um quadro legal para conceder às transações efetuadas com a nova tecnologia o mesmo estatuto legal que as tradicionais. Criptomoedas ganham força neste país. O estado de Wyoming dos EUA passa agora a conta SF0125, que define “ativos digitais” como “propriedade”. Estado mostra que as criptomoedas estão ganhando força por lá após aprovar lei que permite que Bitcoin seja tratado como dinheiro. A SEC, que é a Comissão de Valores dos EUA, oficialmente começa a rever a proposta de ETF da Bitcoin da VanEck. Isso é uma vontade de muitos no mercado cripto, que enxergam um produto deste como a porta de entrada para investidores institucionais de peso, o que poderia trazer valorização de preços ao Bitcoin. A proibição de bitcoin e criptomoedas imposta durante 2017 na Indonésia não será retirada. Melhor evitar o país se quiser gastar suas criptomoedas. Umar Farooq, chefe do blockchain do JP Morgan, revelou três pedidos iniciais para o JPM Coin. Mesmo assim, JP Morgan não tem planos para disponibilizar o JPM Coin a indivíduos por hora, uma vez que a moeda ainda está em fase de testes. O número de comerciantes que aceitam pagamentos em Bitcoin em todo o mundo aumentou em mais de 700% nos últimos 6 anos, sugerem dados da Coinmap. Binance irá remover CLOAK, MOD, SALT, SUB e WINGS, ou seja, quem possuir essas moedas na corretora devem retirar de lá o mais rápido possível. O time de basquete Sacramento Kings diz que usará tecnologia 5G, VR e blockchain para a arena da NBA do futuro. O basquete é um dos esportes de sucesso nos EUA. A Forbes começou a vender um boletim informativo chamado Forbes CryptoAsset & Blockchain, vendido a US $ 595 por ano ou US $ 195 por trimestre. A mídia tradicional tem se aproximado com atenção ao tema criptomoedas e blockchain. Coinbase agora permite aos seus usuários transações com Bitcoin Satoshi Vision (BSV). Essa medida mostra força da comunidade desta cripto ao conseguir comércio em uma bolsa grande de criptomoedas. BitTorrent anunciou no Twitter que seu token BTT em breve será utilizável pelo TronCard. Comunidade Tron comemora essa possibilidade principalmente após terem recebido seu airdrop. O mundo segue atento ao mercado cripto na metade de fevereiro, com muitas novidades mostrando que o desenvolvimento não para. Fique ligado no Livecoins para muito mais. O artigo Principais notícias sobre criptomoedas desta sexta-feira foi publicado originalmente em Livecoins.

a month ago

Binance chuta mais 5 moedas para fora

Por: Livecoins A Binance, maior corretora de criptomoedas do mundo em termos de volume negociado, decidiu remover mais cinco criptomoedas de sua plataforma no próximo dia 22 de fevereiro. As moedas que estão sendo excluídas são CloakCoin (CLOAK) , Modum (MOD) , SAL (SAL) , Substrato (SUB) e Wings (WINGS). “Na Binance, revisamos periodicamente cada ativo digital que listamos para garantir que ele continue atendendo ao alto nível de padrão que esperamos. Quando uma moeda ou ficha não atende mais a esse padrão, ou a indústria muda, conduzimos um estudo mais detalhado. rever e potencialmente excluí-lo “, explicou a troca. No anúncio oficial, Binance declara os seguintes critérios que decidem se querem ou não excluir uma moeda: Compromisso de equipe com o projeto Nível e qualidade de desenvolvimento Estabilidade de contratos inteligentes / rede Nível de comunicação pública Capacidade de resposta aos nossos pedidos periódicos de due diligence Evidência de conduta antiética / fraudulenta Contribuição para um ecossistema de criptografia saudável e sustentável. O artigo Binance chuta mais 5 moedas para fora foi publicado originalmente em Livecoins.

a month ago

Tron Price Analysis: TRX Bulls are Back, Correction Phase Over?

Latest Tron News Underpinning the success of any project, is its ability to draw new users. It doesn’t matter the size or funding levels. Bitcoin became an instant success because of its ability to cut off gate keepers, the middle men that continue to squeeze out every last penny in legacy set ups. Read: Binance To Delist 5 Cryptocurrencies: CLOAK, MOD, SALT, SUB and WINGS Taking the same route, Tron are slowly but surely gravitating towards their ultimate objectives of not only decentralizing the web but creating an ecosystem for entertainment in a two-pronged approach. First, they are a smart contracting platform where users can create tokens, launch applications and receive funds from interested parties. On the other, it is also a place where talented coders are incentivized to develop and contribute apps. Tron Arcade is an example and with a $100 million kitty spread out over three years, the Tron Foundation has their eyes set on one of the three SE Asia blockchain powerhouse—South Korea. Also Read: BTT Paired with XRP and More BitTorrent News Updates It’s a strategic move and verified statistics shows that in 2018, gamers in the country spent a whopping $5.8 billion. Armed with a scalable and a high throughput platform that’s already attracting developers from Ethereum, Roy Liu, the Business Development Manager signed a deal with two of South Korea’s leading gaming associations-Korea Mobile Game Association (KMGA) and the Korea Blockchain Contents Association (KBCCA). Add this to Justin Sun’s recent comments that their goal this year is education, it’s only a matter of time before we see how their efforts are paying off and influencing price action. TRX/USD Price Analysis Even so, TRX is not fairing any better. After an initial pump that temporarily thrusted prices above the all-important 2.5 cents, prices are sliding back and retesting primary support levels. Regardless, we shall continue to hold a bullish outlook on the digital asset. However, it’s all depends on how fast TRX prices recover from current lows as bulls snap back to trend thrusting prices towards 4 cents and later 6 cents. Trend and Candlestick Formation: Bullish, Breakout pattern In the lead up to BitTorrent ICO, the need of TRX and BNB temporarily pumped the coin causing a mis-pricing that is now being corrected. Despite this slide, prices are technically trending within a bullish breakout pattern with clear supports at 2.3 cents—2.5 cents zone. Considering price action of the last few days, it is likely that the retest phase has been completed. This stand will hold water more so if today close as a bullish right off the support line complete with decent volumes. If that is the case, risk off traders should begin looking for opportunities in lower time frames with first targets at 3.1 cents. The 3.1 cents mark is the tops of the inverted pin bar of Jan 27 and a conservative buy trigger line whose breakout could catalyze a rally towards 4 cents and even 6 cents. Volumes: Bullish On average, transactional volumes between mid-Dec and early Jan stood at around 16 million as relayed from Binance records. The correction wave between mid-Dec to Feb averaged around 8 million. This discrepancy means buyers are technically in charge and with evidence from candlestick arrangement, it is likely that volumes pick up. Ideally, volumes signaling bulls should be high above 8 million averages and even exceed 42 million of Feb 4. All Charts courtesy of Trading View—Binance This is not Investment Advice. Do your Research. The post Tron Price Analysis: TRX Bulls are Back, Correction Phase Over? appeared first on Ethereum World News.

a month ago

Binance delists 5 projects including SALT Lending

Binance, the largest crypto exchange by traded volume, announced Friday that it has decided to delist and cease trading of five tokens - CloakCoin, Modum, SALT, Substratum and Wings. Binance says that it periodically reviews projects to ensure that they “continue to meet the high level of standard.” According to Binance, the delisted projects no longer fulfill the necessary standard after conducting the recent reviews. The tokens will be delisted on Feb. 22 at 10 a.m. UTC. Withdrawals of the coins will be supported for another three months after the coins are delisted. In November, it was uncovered that the SEC was investigating SALT Lending and issued a subpoena in February. The SEC was looking into whether SALT’s ICO was an unregistered securities offering and also into how the firm spent the raised funds. According to CoinMarketCap, approximately 80 percent of SALT’s liquidity came from Binance in the last 24 hours. The post Binance delists 5 projects including SALT Lending appeared first on The Block.

a month ago

Binance to Delist 5 Cryptocurrencies on February 22 Due to Standard Failure

Binance, one of the world’s biggest crypto exchanges, is reportedly delisting five tokens on its platform. The affected cryptocurrencies are CloakCoin (CLOAK), SALT (SALT), Modum (MOD), Substratum (SUB) and Wings (WINGS). The exchange, according to the announcement, will also cease the trading of these five tokes on all trading pairs. As per the report, the delisting will take effect at 10.00 AM UTC on February 22, 2019. “At Binance, we periodically review each digital asset we list to ensure that it continues to meet the high level of standard we expect. When a coin or token no longer meets this standard or the industry changes, we conduct a more in-depth review and potentially delist it,” the official announcement states. (VK)

a month ago

Binance To Cease Trading of Five Tokens On Feb 22, Following Standard Failure

Announced on Feb 15, 2019, Binance cryptocurrency exchange is delisting the five cryptocurrencies on its platform. Accordingly, it will also cease the trading of those five tokens on all trading pairs as well. The move will come into effect on Feb 22, 2019. Tokens No Longer Meet The Level of Binance’s Standard One of the largest cryptocurrency exchange, Binance which currently stand with average marketcap of $475,898,758 is delisting CloakCoin (CLOAK), Modum (MOD), SALT (SALT), Substratum (SUB) and Wings (WINGS). The exchange would delist these coins and tokens on 22 Feb 2019 at 10.00 AM UTC. The move comes amidst the exchange’s review process for tokens to ensure they meet the high level of standard Binance has set. Consequently, the absence of such requisites by listed tokens will let Binance potentially delist after the prior in-depth review. Consequent to the delisting of these five tokens, all trade orders will also be removed automatically. Furthermore, Binance will support traders and crypto enthusiast in funds withdrawal from these coins until Feb 22, 2019, at 10.00 UTC. Moreover, it cautioned users not to select ‘Hide small assets’ in user’s fund page if they intend to view asset after Binance cease the trading of these coins. The official announcement states that; At Binance, we periodically review each digital asset we list to ensure that it continues to meet the high level of standard we expect. When a coin or token no longer meets this standard or the industry changes, we conduct a more in-depth review and potentially delist it. The review process of Binance includes the number of criteria- few mentioned by team Binance are as follows; The commitment of the team to project Level and quality of development activity Network / smart contract stability Level of public communication Responsiveness to our periodic due diligence requests Evidence of unethical/fraudulent conduct Contribution to a healthy and sustainable crypto ecosystem What’s your stake on Binance’s move to delist these tokens? share your opinion with us. The post Binance To Cease Trading of Five Tokens On Feb 22, Following Standard Failure appeared first on Coingape.

a month ago

Binance delists five projects including SALT Lending

Binance, the largest crypto exchange by traded volume, announced Friday that it has decided to delist and cease trading of five tokens - CloakCoin, Modum, SALT, Substratum and Wings. Binance says that it periodically reviews projects to ensure that they “continue to meet the high level of standard.” Based on the recent reviews, the delisted projects no longer fulfill the standards. The tokens will be delisted in a week, on February 22 at 10am UTC. Withdrawals of the coins will be supported for three months after the coins are delisted. The post Binance delists five projects including SALT Lending appeared first on The Block.

a month ago

Binance To Delist 5 Cryptocurrencies: CLOAK, MOD, SALT, SUB and WINGS

Binance has announced that it will be delisting five digital assets in the next few days. All trading activities of the coins will cease on the 22nd of this month at 10 am (UTC). The five affected coins are as follows. CloakCoin (CLOAK) Modum (MOD) SALT (SALT) Substratum (SUB) Wings (WINGS) Reasons For Delisting Binance constantly reviews each digital asset on its exchange. Those that do not meet a set list of criteria are delisted . Crypto traders on the platform are given adequate notice to adjust to the changes. The team at Binance decides to delist a digital asset when the following is not met. Commitment of the team to project Level and quality of development activity Network / smart contract stability Level of public communication Responsiveness to our periodic due diligence requests Evidence of unethical / fraudulent conduct Contribution to a healthy and sustainable crypto ecosystem Withdrawals to Continue till 22nd May, 2019 All orders associated with the 5 cryptocurrencies will be automatically removed on the 22nd of February at 10 am (UTC). Traders who hold the five affected coins have until the 22nd of May to withdraw their digital assets out of Binance. Most Recent Delistings by Binance The five aforementioned coins are the first batch delisted by Binance this year. Last October, Binance delisted Bytecoin (BCN), CHAT, Iconomi (ICN) and TRIG due to similar reasons. Delistings Not Limited to Binance The third and fourth quarters of 2018 found many exchanges delisting several coins due to a variety of reasons such as low liquidity and lack of development progress from the teams responsible. In December, Huobi had placed 32 digital assets on probation due to insufficient trade volume. KuCoin also delisted 10 digital assets lin the same month due to reasons similar to those outlined by Binance. What are your thoughts on Binance delisting the 5 digital assets of CLOAK, MOD, SALT, SUB and WINGS? Please let us know in the comment section below. [Image courtesy of] Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you. The post Binance To Delist 5 Cryptocurrencies: CLOAK, MOD, SALT, SUB and WINGS appeared first on Ethereum World News.

a month ago

We're very happy to announce the fifth episode of Around The...

We're very happy to announce the fifth episode of Around The Cloak, your monthly video update on progress and devel…

2 months ago

We're glad to announce that CloakCoin is listed on @easyrabb...

We're glad to announce that CloakCoin is listed on @easyrabbit_net EasyRabbit provides a modern cryptocurrency exc…

2 months ago

Tools of the Trade: Monero and Privacy Coins Are Creating More Efficient Criminals

As if the cryptocurrency space wasn’t controversial enough, the emergence of privacy-focused coins such as Monero allow an end user to cloak their identity, making the currency an ideal choice for cyber criminals. In Japan, the Financial Services Agency has banned any exchanges from listing such coins, and privacy coins in general are commonly at the forefront of regulatory discussion, primarily centered around their potential contributions to international money laundering. Monero has already earned the crown for being the cryptocurrency most frequently involved in cryptojacking cases, and now, a new report out of Norway could bring to light additional fears around Monero’s privacy-related functions. Wife of Norway’s Richest Man Held For $10M Monero Ransom Multi-millionaire real estate investor Tom Hagen is listed among Norway’s richest men, however, his wealth has unfortunately made him and his family a target for cyber criminals. Local Norwegian media outlet VG reports that Hagen’s wife, Anne-Elisabeth Falkevik Hagen, age 68, is suspected to have been kidnapped by a group of criminals who are demanding a $10.3 million ransom for her safe return. The criminals are requesting the ransom only be paid in Monero, likely as a way to hide any trace of their operation so they can get away with the crime unscathed. Related Reading | US Government Aims to Make Privacy Coins’ Use Case Obsolete Hagen’s wife disappeared suddenly from the family’s Lørenskog home on October 31st, and hasn’t been seen since. Police say they’ve been on the case for “several weeks,” but “have no suspects” in the case. The criminals only communicate over the internet, and have shown no evidence of Falkevik Hagen’s well being. A note was discovered in the Hagen family’s household claiming that Falkevik Hagen would be killed if authorities became involved or if the Monero ransom wasn’t paid. Chief investigator Tommy Broeske, however, decided to “go public,” because they “need more information” to help track down the criminals and bring Falkevik Hagen home safely. Monero’s Privacy Features Leave Investigators With No Trail to Follow The case may not be as difficult for the authorities involved if it weren’t for Monero. Monero uses an obfuscated blockchain that prevents outside observers from determining the source, destination, or even the amount being sent in a transaction. As a result, investigators on the case are still left with “no suspects,” despite having assistance from Interpol and Europol, and have Hagen’s wealth behind them. Monero is quickly becoming the cryptocurrency of choice for cyber criminals. Santa Clara-based network and enterprise security company Palo Alto Networks released a report last year that suggested that roughly 5% of all Monero in circulation was mined as a result of malicious cryptojacking software, and that as much as 2% of Monero’s hashpower is derived from cryptojacking scripts. Related Reading | Crypto Mining Malware Still Abundance Despite Market Decline A branch of the United States Department of Homeland Security had already set its sights on Monero and the privacy coins, and may be working to develop tools to trace transactions on the blockchains of privacy coins. Should additional cases arise with such high profile individuals, privacy coins will eventually gain more notoriety and may eventually become banned elsewhere across the globe. The post Tools of the Trade: Monero and Privacy Coins Are Creating More Efficient Criminals appeared first on NewsBTC.

2 months ago

MimbleWimble: History, Technology, and the Mining Industry

A historical overview of MimbleWimble, Grin, & BEAM MimbleWimble, a blockchain protocol focused on fungibility, privacy, and scalability, was released in the wild in July 2016 on IRC channel #bitcoin-wizards by pseudonymous Tom Elvis Jedusor. The paper proposed a novel way of combining transactions to improve the privacy features in a public blockchain. Jedusor’s paper was built on the work of another anonymously posted paper from 2013 using one-way aggregate signatures (OWAS), which required a novel cryptographic primitive, pairing crypto, which wasn’t well trusted in academia. It also drew inspiration from Confidential Transactions and CoinJoin, two privacy proposals by Bitcoin Core developer Gregory Maxwell. The original MimbleWimble paper used the same elliptic curve cryptography Bitcoin uses, catching the attention of many Bitcoin researchers including Andrew Poelstra, a mathematician and applied cryptographer at Blockstream, who further improved on the MimbleWimble white paper, releasing a “precise” version in October 2016. Poelstra’s work has long been focused on privacy, having worked on Confidential Transactions and scriptless scripts in Bitcoin. Originally, it was envisioned that MimbleWimble could either be integrated as an upgrade to Bitcoin or exist as a sidechain, but Pieter Wuille, co-founder of Blockstream and a Bitcoin Core developer, clarified some of the challenges to integrating it as a backwards-compatible change on a 2016 podcast: “Introducing mimblewimble into bitcoin in a backwards-compatible way would be a difficult exercise. It may not be impossible, but it would be hard. I think the way if people were experimenting with this, I would expect it to be an experimental separate chain or sidechain. In a sidechain we would not introduce a new cryptocurrency but it would be a separate chain. There are some downsides to mimblewimble. In particular, it does not have a scripting language...a scripting language is very neat to play with, but it has a privacy downside. Mimblewimble takes this to the other side where you have very good privacy but at the expense of no other features any more.” The trade-off made by MimbleWimble excludes an expressive scripting language, which allows for innovations such as payment channels (e.g., the Lightning Network) and cross-chain atomic swaps, both of which launched in Bitcoin in 2017. Since then, two separate implementations of the MimbleWimble protocol have emerged, both with different considerations around community, ethos, funding, and technical details. The first implementation, Grin, which has become synonymous with MimbleWimble, was released just a few days after Poelsta’s position paper. Pseudonymous Ignotus Peverell, the original owner of Harry’s invisibility cloak, created the Github project ignopeverell/grin, where he provided a partial implementation of the protocol written in Rust, in addition to posting his vision for the project’s ethos. In March 2017, Peverell posted a technical introduction to Grin and MimbleWimble (as the name is now stylized), which serves as the principle reference to the protocol’s specification today. To date, the project is still maintained by a group of mostly anonymous developers, several of whom have taken on Harry Potter pseudonyms in line with the original ethos of the project (including Luna Lovegood, Seamus Finnigan, and Percy Weasley). The first Grin testnet was launched in November 2017 and the project is currently on testnet 4, which is believed to be the last before the project’s mainnet launch. The second implementation, BEAM, is a project started in March 2018 and was formally announced on the one year anniversary of the original Mimblewimble paper release. BEAM was presented in a separate white paper (along with a fully functional mining node and wallet client) and took on a more formal structure similar to Zcash, in stark contrast to Grin’s anarchic, open-source ethos. The BEAM team is led by CEO Alexander Zaidelson, an Israeli entrepreneur. With a defined management/engineering team, pre-sale, a formal foundation, and founder’s tax, BEAM took a very different approach to present a competitive alternative to Grin in the market. In addition to creating the formal structure around the project, the BEAM team made different technical choices to Grin, including decisions related to the monetary policy and hashing algorithm (which are explored below). BEAM launched in early January 2019 with a significant lead on hash-rate. Understanding Bitcoin’s UTXO model and cryptographic primitives Note: This, by no means serves as a comprehensive introduction to Bitcoin or cryptography, but provides enough context such that the uninformed reader should be able to follow along. From the earliest days, privacy and fungibility have been core concerns of Bitcoin users. Through complex network analysis and blockchain analysis, Bitcoin has seen many attempts to de-anonymize transactions. While cryptocurrencies have emerge

2 months ago

We are very pleased to announce that CloakCoin has been list...

We are very pleased to announce that CloakCoin has been listed on @MCryptoCheckout a decentralized peer-to-peer cry…

3 months ago

We're very glad to announce that CloakCoin has been listed o...

We're very glad to announce that CloakCoin has been listed on @CointreeAus a Melbourne-based cryptocurrency exchang…

3 months ago

We're very happy to announce the fourth episode of Around Th...

We're very happy to announce the fourth episode of Around The Cloak, your monthly video update on progress and deve…

3 months ago

CloakCoin has officially joined the @Binance_Info transparen...

CloakCoin has officially joined the @Binance_Info transparency initiative. By sharing project-related information s…

3 months ago

We're glad to announce that CloakCoin has been listed on @Cr...

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4 months ago

We're very pleased to announce the new Raspberry Pi wallet -...

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4 months ago

Op Ed: It’s Time to Reject Mediocrity, #ExitFiat and Embrace Bitcoin

When the towers in New York fell, I became obsessed with economics. I wanted to follow the money to understand what happened on that dreadful day. During that time of inquiry, I found myself very interested in Austrian economic theory. Soon enough, I realized that the reserve banking system was systemically corrupt. How can you have money based only on debt? How can central banks print debt out of nowhere and demand interest for that?It was a question that caused me to create the world’s first website where people swapped clothes online, in an attempt to enable people to stop using fiat debt certificates. I soon realized that swapping was a terrible way to trade. For instance, if Alice really likes a dress from Belinda but Belinda doesn't like anything Alice has, then the deal falls through. That's unfortunate. So then, how do I create a digital token that is used in the market so Alice could just pay Belinda a token for the dress that Belinda can trade with anyone else in the marketplace? Hmm, I thought. But if I issue the website’s own internal currency then I'm back to central banking, back to one company deciding what's good for the economy, inflation and everything else would be up to me. We built Swapstyle as an alternative economy based on swapping, as a tool to get around fiat — not become a new fiat. The more I thought about swapping and alternative currencies, the more I realized that money needs to be decentralized with no controlling power — it needs to be released from a network. But this was impossible. I read Adam Back’s HashCash and Nick Szabo's bit gold papers. Europe and the Netherlands, in particular, had interesting pockets of innovation. These were people deep into cryptography; these were scientists with the same goals: to decentralize money in the internet age, an age that had us all in a dichotomy: It could free humanity or place it in digital bondage, control and servitude. Enter, BitcoinIn late 2010, Satoshi's white paper crossed my desk somehow. WOW, OMG! SHE SOLVED IT! This anonymous person has solved the double-spend problem in a decentralized network! I fell down a rabbit hole that frankly I'm still falling down and loving it. I incorporated bitcoin into SwapStyle in 2011 and none of the members knew what it was. I would send them to Gavin Andresen's amazing faucet that was giving bitcoin away so people could try it. The Libertarian and anarchist roots were also really strong in the community so I gravitated toward reading more about the philosophies of Murray Rothbard, David Friedman and other great thinkers. I moved to Germany in 2013 and founded Room 77, the first brick-and-mortar place in the world to accept bitcoin. The first time I arrived, I felt at home: There were pictures and quotes of Julian Assange and Aaron Swartz hanging on the wall, Bill Hicks playing in the restrooms and, at the bar, long conversations on philosophies of Friedrich Hayek, Murray Rothbard, Ludwig von Mises and many more. These were the types of people that wanted to change money for a reason: for the sake of freedom and independence from the banking system or the system of control altogether. One guy I met there always wore a balaclava if there was a camera present, had tape on his fingertips and kept a small pebble in his shoe to throw off gait recognition patterns. I felt like he was more of a living art piece, warning the world of the Orwellian nightmare we, as a society, seemed to be blindly walking into because if anyone stuck out like a sore thumb, it was him.During this time, there was a sense of building an exit door, a cloak to help fend off the encroaching Big Brother state. Germans have seen many governments go sour and Berlin was, of course, central in one of the largest, both during WW2 and then the East German Stasi during the Cold War. Wherever I went, the talk was about freedom, about liberty. The community was full of crazies, misfits and outliers with off-the-chart IQs. The thing that we all knew, though, was that Bitcoin had arrived and it was an invention that could not be stopped and could not be taken down, and that this was the dawn of a new era, a total disruption in money and government as a whole.Gavin Andresen speaks at the first Bitcoin Conference in New York, October 2011.Countering the Present MediocrityNowadays, I speak at countless conferences. But these conferences are different. They are filled with bankers and regulators, with lawyers and scammers, promo girls, hookers, suits and Lambos. I always try to bring it back to the fundamentals and the reason why Bitcoin is so important. It seems that, since mainstream adoption has started, it's been all about Lambos, hot girls and macho celebrations of mediocrity. I realize that this is what the mainstream kind of looks like. The reason bitcoin and cryptocurrencies, in general, will win the fight to be the new money in the long term is that if you are not excited by the philosophies of decentralized money, then the t

4 months ago

We're happy to announce the third episode of Around The Cloa...

We're happy to announce the third episode of Around The Cloak, your monthly video update on progress and developmen…

4 months ago

How to buy @CloakCoin with @Netcoins Netcoins allows users...

How to buy @CloakCoin with @Netcoins Netcoins allows users to purchase CloakCoin with fiat at over 21,000+ retail…

5 months ago

New Kids On The Blockchain

With over 11k subscribers on YouTube, the New Kids On The Blockchain are an award-winning team of documentary makers with a thirst for cryptocurrency and blockchain. Starting the channel in 2017 in order to produce a feature-length documentary on the rise (and possible fall) of the ICO. The Kids have travelled the world extensively working with key players and opinion leaders in the space. They have also been following a number of important projects, such as The Pillar Project, throughout the whole stage of their creation, ICO and development, to get the ‘inside story’ on this fascinating world. Some of the people filmed include Roger Ver, Clif High, Ryan Taylor (CEO DASH), Jeff Berwick (The Dollar Vigilante), JSNIP4, Bix Weir, Crypt0, Reggie Middleton and many more and worked with projects such as: Dash, Elastos, EOS, Debitum, Pillar, Veritaseum, PIVX, Cloak, Funfair, Polymath, Oracle, IBM, Ledger, Abra and ICO Alert, to name but a few. The New Kids do quick rundown videos several times a week on the most significant news that comes out of the industry. The rundown videos are around 1-3 minutes long so it’s a good way to keep up to date with what’s going on without eating up to much of your time. Key media partners for a number of blockchain events worldwide they started their channel about 18 months ago to bring quality, informative and intelligent content around blockchain and cryptocurrency as opposed to the usual Moon-Lambo nonsense and host a daily show, weekly show and a wealth of other informative content. As the only ‘Crypto Couple’ in blockchain communication, they also offer a unique viewpoint and well-rounded opinion from different perspectives of the industry. So head over to YouTube now and subscribe to the New Kids On The Blockchain to keep up to date with everything to do with the crypto space! googletag.cmd.push(function() { googletag.display('div-gpt-ad-1538128067916-0'); }); The post New Kids On The Blockchain appeared first on Crypto Daily™.

5 months ago

Stolen Identities, Telegram and ICO Scams: If the Co-Founder of Ethereum isn’t Safe, Who Is?

LaneAxis uncovers sophisticated fraud attempt targeting ConsenSys founder Joseph Lubin When the Equifax data breach occurred in September 2017, crypto guru and Ethereum co-founder Joseph Lubin was quick to criticize corporate mishandling and monetization of user data, doubling down on his call for heightened digital security via decentralized networks. Lubin stressed the importance of protecting our online identities: “...hack after hack after hack and the resulting time and resources devoted by government agencies attempting to safeguard identity, how can regulators not be excited about the Ethereum blockchain? An immutable and transparent protocol with products where each individual owns all aspects of their identity. No more widespread hacks.” -There is another way: The Equifax Hack and the Road to Decentralization But just a year later, Lubin’s own identity and brand were hijacked on the internet. On September 13th Rick Burnett, CEO, and founder of LaneAxis received a message from Lubin via Telegram, “LaneAxis: want to know more...” Burnett, who is currently launching LaneAxis Virtual Freight Management’s Ethereum-based supply chain management ecosystem, was unaware of who exactly Lubin was, but offered to speak with him and share more information about the company and its blockchain and token sale project. After a short call, Lubin said he would mull over the information and take a few days to examine the LaneAxis platform. Burnett, curious about the mysterious potential investor, Googled Lubin. Ethereum Co-Founder. ConsenSys Founder. Billionaire. Entrepreneur... Google’s news feed on Lubin pulls up a near constant stream of stories featuring Lubin investing in blockchain-based startups or offering sage advice about the future of crypto. Burnett was stunned. This could be game-changing for LaneAxis. Companies partnered with ConsenSys often sell out their tokens within minutes of receiving backing from Lubin. The LaneAxis team immediately went to work researching Lubin and ConsenSys. The first move was to verify that the Telegram messages were actually from Lubin. Telegram is the preferred communication platform of the cryptocurrency community due to its ability to encrypt messages as well as its robust group chat features. The app allows for the creation of public usernames, helping platform users contact anyone else on the network who has also created a username. Like any other network, usernames must be unique, and personal names are rarely available. However, Telegram does offer users with an “online identity” to secure a username if the same name is used for at least two other different social accounts [Facebook, Twitter, Instagram]. Lubin’s Telegram name is @ethereumJoseph. His verified Twitter handle is also @ethereumJoseph. Based on his Twitter, Burnett and the team concluded ConsenSys and Lubin must have secured his verified Twitter handle for Telegram as well, and this was indeed the real Lubin. For the next week, Burnett messaged Lubin, receiving blunt responses almost stereotypical of a jet-setting billionaire managing a plethora of business ventures. Finally, Lubin messaged Burnett on September 15th with an offer. Lubin: “How can I be of help?” Burnett: “I would love you to be involved at whatever level you want to be involved. Investor? ConsenSys? Team member and let us do a press release that you are involved. You tell me and I’m in.” Lubin: “How about a partnership with ConsenSys?” Burnett: “Yes. How do we proceed?” Lubin: “I’ll send you more information on Monday.” The LaneAxis team spent the rest of the week preparing for the deal and coordinating with Lubin. Lubin sent a ConsenSys contract to Burnett from his personal email, [a non-ConsenSys email address], which Burnett thought a bit strange and questioned Lubin. Lubin claimed it was his personal email. Burnett initially found it odd but reasoned that a person of Lubin’s stature might use company-independent emails for correspondence, and, potentially, business deals. Burnett did not want to spook a deal with a seemingly eccentric tech billionaire and pressed on. The contract centered around a token exchange. Provided ConsenSys passed due diligence and met the terms and conditions of LaneAxis’ token sale, LaneAxis would receive ConsenSys backing and $2.2 million in Ether for $2 million of LaneAxis’ AXIS tokens. Both companies would be required to keep sixty percent of the received tokens as company reserves and forty percent for utilization. Burnett received the signed contract on ConsenSys letterhead with Lubin’s signature. The LaneAxis team celebrated what they thought was a partnership with ConsenSys. Lubin put Burnett in contact with James Slazas, Head of Capital Markets at ConsenSys, via Telegram to carry out the contract. After receiving a signed contract from Lubin with ConsenSys watermarks, addresses, and information, Slazas provided the transfer details and sent Burnett two crypto wallet addresses for the exchange. That’s

5 months ago

Grin Coin And MimbleWimble: An Introductory Guide

What Are Grin And MimbleWimble? Grin coin is an implementation of the MimbleWimble protocol. Grin aims to be a scalable privacy coin that has no addresses, no amounts, and is therefore less storage intensive than other privacy coins and digital currencies. The coin has an anonymous founder, has been developed by the community, and Grin is slated to have a fair proof-of-work launch in Q1 2019. Its mining algorithm is ASIC-resistant, meaning you can mine Grin with your laptop. The MimbleWimble protocol is a design for a blockchain-based ledger where there are no addresses and the data storage required is minimized. It is a private-by-default blockchain that is also scalable and uses elliptic-curve cryptography that has been tested for decades. When compared to Bitcoin, MimbleWimble only needs to store 10% of the data requirements which means that it is more scalable, less centralized, and significantly faster. Grin and MimbleWimble: History On August 2nd, 2016 a text file was posted anonymously in a Bitcoin development forum outlining the early-stage of the MimbleWimble whitepaper. The purpose was to soft fork this design for a blockchain-ledger into Bitcoin as a solution to the scaling problem and to add private transactions. On October 20th, 2016 a different anonymous developer posted on the same forum that he was working on an implementation of MimbleWimble - it was called Grin. When Satoshi first wrote the Bitcoin whitepaper its purpose was to become a peer-to-peer electronic cash system. High transaction fees and opportunity costs of using bitcoin have transformed its major use case into being more of a store of value. Right now, crypto is lacking a true currency to act as a medium of exchange between parties because no coin has all four cornerstone properties of global, fiat-free digital cash: price stability, scalability, decentralization, and privacy. Grin’s implementation of MimbleWimble hopes to solve these four areas differently and more effectively than any other currency-focused digital asset available today. Private transactions are imperative to have fungible tokens, which are needed in a currency used as a medium of exchange. In the case of Bitcoin, some investors will actually pay a premium for tokens with no previous transaction history, and in the future we may see an economy where bitcoins that have ever been associated with nefarious addresses may be harder to move. In general, why would you ever want all of your purchases to be transparent for everyone in the world to see? There are privacy, security, and personal risks associated with doing so. Grin was the first project to implement MimbleWimble and the community-based project launched its testnet in November 2017. The fourth and final testnet before launching the mainnet now has its own branch and is ready for release. My best estimate is that we will see a Grin mainnet launch in early 2019. The project is called Grin as a nod to Gringotts Wizarding Bank in Harry Potter. How does MimbleWimble work? Understanding MimbleWimble requires a basic understanding of Bitcoin’s unspent transaction output (UTXO) model: If Alice sends 1 bitcoin to Bob she’s not just transferring a 1 bitcoin balance to him like a cash society, which looks like: Alice -1 Bitcoin Bob +1 Bitcoin That makes sense doesn’t it? But that’s not how bitcoin accounting works. Every transaction is made up of a bundle of inputs and outputs that go from one person to another. So, Alice’s 1 bitcoin transaction to Bob her wallet software is bundling up inputs from previous bitcoin transactions that make up the 1 bitcoin she is sending Bob. Sometimes there can be hundreds of inputs in this transaction, and each transaction needs to be individually signed by the wallet software. As you can see, this adds a lot of data to the blockchain and becomes cumbersome. Alice’s transaction might look more like this: Alice - [0.2+0.1+0.7], where the [X+Y+Z] are previous transactions that need to be bundled and validated by Alice’s wallet. It’s a bit intricate, but this is a proven consensus model that has been shown to be secure. Other models provide security that is more experimental. MimbleWimble changes this bitcoin model by creating one multisignature for all of the inputs and outputs. The parties involved in a transaction create one public multisignature key that can verify the transaction. There are no addresses in the system because two parties engaging in a transaction share what’s called a “blinding factor” where only those two parties know they are engaging in a transaction; keeping the privacy of the network. A blinding factor is a shared secret between the two parties that encrypts the inputs and outputs in that specific transaction as well as the transacting parties’ public and private keys. MimbleWimble utilizes a Pedersen commitment scheme where full nodes subtract the encrypted amounts on the sending side of transactions (inputs) from the encrypted amounts on the

5 months ago

We're very pleased to announce a new wallet release! CloakC...

We're very pleased to announce a new wallet release! CloakCoin v2.2.2.0 'rEVOLUTION' - ENIGMA Engine v1.1 for Wind…

5 months ago

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