Gas GAS

$4.91
Market Cap $ 49.698 MM (#111)
24h Volume $ 440.607 K
Chg. 24h: -2.39%
Algo. score 3.9/5  (#79)
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Gas News

Venezuela to Present Petro Crypto to OPEC as a Unit of Oil

The Venezuelan government is reportedly going to present its oil-backed cryptocurrency, the Petro, to the Organization of Petroleum Exporting Countries (OPEC) as a unit of account for oil. According to local news outlet Telesur, the country’s petroleum minister and the president of state-run oil and natural gas company PDVSA, Manuel Quevedo, stated that Petro transactions

10 hours ago

DMG Starts Operating 60MW Bitcoin Mine in British Columbia

DMG Blockchain Solutions has announced that it has started generating up to 60 megawatts (MW) of electricity at an 85MW substation it owns in western Canada. It will use the substation to power its flagship cryptocurrency mining facility, which is one of the largest such sites in the country by power output. Also Read: Vietnam at Crossroads on Cryptocurrency Regulations DMG Partially Powers New Mining Facility The Vancouver-based company has started operations at its 27,000-square-foot cryptocurrency mine, which sits on a 34-acre site in British Columbia. The electricity used by the mine is estimated to be enough to power 50,000 homes. The facility is believed to be the second-biggest mining operation in Canada. The site is powered by clean hydroelectric power and will not have an impact on the electricity distributed to the local community. “DMG now proudly owns one of the largest, most cost-efficient, bitcoin mining facilities in North America,” said Dan Reitzik, chief executive officer of DMG. “It was an audacious undertaking, but DMG’s executive team has been in the mining space for years, and we have the know-how and connections with the utilities and government agencies to pull it off.” The site will provide low-cost energy to DMG, as well as third-party customers via its mining-as-a-service operation. The construction of the crypto mine took approximately one year. As part of the announcement, DMG also said that Simon Padgett has stepped down from his role as the director of the company. Hut8 and Bitfury Still Operate Largest Mine in Canada DMG’s new facility is expected to hold the distinction of being the most powerful cryptocurrency mine in Canada once it is fully powered. However, at the moment it still falls shy of a 63MW site that Hut8 and Bitfury are jointly operating in Medicine Hat, Alberta. Unlike DMG’s facility, the operation in Medicine Hat is powered by the local grid, which uses natural gas to generate electricity. “I’m in the business of making electricity and selling it to industrial users,” Ted Clugston, the mayor of Medicine Hat, recently stated. He also described the cryptocurrency mining industry as comprising “mining for ones and zeros” by converting “gas into electricity, which is being turned into Bitcoins.” Do you think crypto mining poses a challenge to the environment, or is it a form of electricity arbitrage across the global market? Share your thoughts in the comments section below! Images courtesy of Shutterstock At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more. The post DMG Starts Operating 60MW Bitcoin Mine in British Columbia appeared first on Bitcoin News.

14 hours ago

Daily Cryptocurrency News - 11th November 2018

Here are the most important headlines of 11th November 2018 in the cryptocurrency space: Ethereum’s Constantinople Upgrade - Possible to Happen In January Ethereum enthusiasts have something to be happy about. In the last meeting, there were two dates proposed for the future Constantinople upgrade - January 12th and January 16th. The dates were set to be at that time so that the holiday season would pass. If this is a viable option (can’t completely judge the overall effort needed to get this in place + communicate this), I would like to make the following adopted timeline suggestion: December 10th (Monday), 2018: Start of a new PoW testnet, deprecate Ropsten January 16th (Wednesday), 2019: Fork on the new testnet February 12th (Tuesday), 2019: Fork on mainnet This Ethereum upgrade will introduce five Ethereum Improvement Proposals (EIP) that could surely improve the network. The Ethereum Improvement Proposals (EIP) are the following: EIP 145: Introduces Native bitwise shifting instructions which are more efficient for processing transactions on the network EIP 1218: Allows blocks to be directly aware of block hashes much older than the current hash EIP 1014: to implement scaling based upon state channels and off-chain transactions EIP 1052: optimizes large-scale code execution on the network EIP 1283: proposes the reduction of excessive gas costs where it does not match how most implementation works Circle Invest Adds Basic Attention Token To Its Platform Circle recently decided to list Basic Attention Token (BAT) on its platform. Great news for BAT as this comes at only a few days since it was listed on Coinbase. Not a surprise for everyone though. Circle and Coinbase are partners in the Centre Venture. Centre was created to increase the adoption of the ‘stablecoins’. Circle’s own stablecoin, USDC, was listed last month on Coinbase. In order for a cryptocurrency to be listed on Circle, it should meet the ‘Circle Asset Framework’, as BAT token did before listing. Circle, which also owns Poloniex exchange, was mention by The Office of the Attorney General of New York for having transparent listing standard. Circle’s head of legal & business affairs Claire Wells declared for Cryptoglobe that the company traders over $2 Billion OTC. Moreover, even if the price had a decline, Brendan Eich pointed out that BAT is in discussions with a large publishers which will work exclusively with Brave. Alex Gedevani believes that the website that Brave will have a partnership with its Imgur - and he wrote a detailed article about it on his Medium blog. Bitcoin ATM’s Available in 4,000 Locations Globally Even though if the Bitcoin price is on a continuous decrease since the beginning of 2018 - the adoption is slowly increasing. At the end of November, there’s a number of 4,000 ATMs expected to be live all around the world. According to CoinAtmRadar, there are 3989 Crypto ATMs available right now - with over 75 Countries that have at least 1 ATM, 40 Producers and 515 Operators. The number of Crypto ATMs increased by almost 1,000 since May 2018 and by over 3,000 since January 2017. The continent with the most crypto ATMs is North America - with over 71.3% of the market, followed by Europe. Another interesting fact is that 6 in 10 machines support different altcoins. Most popular altcoins among ATMs are: Litecoin, Ethereum and Bitcoincash. Also, 4 in 10 ATMs allow users to both buy and sell cryptocurrencies. The downside of ATMs - the fees. The average fee of buying cryptocurrency is a huge 8.85%. Selling it have a fee of 7.9% - a little lower, but still too much. For more details, you can check Bitcoinist’s article. Private Blockchains - Compatible with European’s GDPR According to a research published on 6th November - Private blockchains could be compatible with the latest European privacy rules. The study was conducted by Queen Mary University of London and Cambridge University, UK. GDPR ( General Data Protection Regulation ) act is a legislation that regulates the storage of personal data for all the EU individuals. According to the act, the ‘controllers’ ( such as banks or even a website where you’ve submitted your email) are obliged to keep you data private - otherwise, they could receive a fee of 20 million Euro or 4% of global turnover(whichever is higher) . The study claims that private blockchains could fall under these rules and be treated as ”controlelrs” as they handle sensitive data about persons from Europe. “There is a risk that this legal uncertainty will have a chilling effect on innovation, at least in the EU and potentially more broadly. For example, if all nodes and miners of a platform were to be deemed joint controllers, they would have joint and several liability, with potential penalties under the GDPR.” But, there’s a solution though. The blockchain operators could act like “processors” instead and let the users control their data. As an example, the perfect case would be a blockchain-as-a-s

a day ago

Ethereum’s (ETH) Constantinople Upgrade Could Happen as Early as January 16th

Fans and investors of Ethereum (ETH) have something to look forward to as we head into the Holiday season. This is due to the fact that during an Ethereum core developer meeting held this past Friday, a new timeline was proposed to implement the Constantinople upgrade. In the minutes of the meeting currently available on GitHub, two dates were suggested in January 2019. The first one was the 16th January and the second was the 12th. January 16th Date Many of the core-developers agreed that the hard fork should happen in mid-January after the Holiday season. January 16th was the date prefered most by the Ethereum core developers. One core developer had this to say about the timeline. If this is a viable option (can’t completely judge the overall effort needed to get this in place + communicate this), I would like to make the following adopted timeline suggestion: December 10th (Monday), 2018: Start of a new PoW testnet, deprecate Ropsten January 16th (Wednesday), 2019: Fork on the new testnet February 12th (Tuesday), 2019: Fork on mainnet About Constantinople The upgrade on the Ethereum network is one of the largest to date. If successful, Constantinople will introduce five Ethereum Improvement Proposals (EIP) as follows. EIP 145: Introduces Native bitwise shifting instructions which are more efficient for processing transactions on the network EIP 1218: Allows blocks to be directly aware of block hashes much older than the current hash EIP 1014: to implement scaling based upon state channels and off-chain transactions EIP 1052: optimizes large-scale code execution on the network EIP 1283: proposes the reduction of excessive gas costs where it does not match how most implementation works Market Reaction and the Future of ETH With the announcement of a possible date for the Constantinople hard fork, investors and traders can once again get excited about ETH in the markets. Ethereum is currently trading at $211 and down less than a percentage point in the last 24 hours. As more investors get wind of the possibility of an early 2019 upgrade, we could see an increase in value for the King of Smart Contracts: also known as Ethereum. What are your thoughts on the Ethereum upgrade known as Constantinople? Please let us know in the comment section below. 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 Ethereum’s (ETH) Constantinople Upgrade Could Happen as Early as January 16th appeared first on Ethereum World News.

a day ago

Exodus Cryptocurrency Wallet Adds Support for NEO

The Exodus wallet, a popular cryptocurrency desktop wallet application, has announced that the newly released update to their wallet software has added support for the well-known NEO blockchain project along with several other optimizations. This update does not include support for GAS, although users will still be generating GAS for their NEO holdings behind the scenes. The Exodus team intends to look into adding support for GAS in the future. (JF)

2 days ago

Ethereum [ETH] network will help countries with emerging economies, says creator of Burner wallet

The release of the new Burner wallet developed by Austin Griffith, Director of Research at GetGitcoin, was announced today, November 10, on Twitter. The open-source project supposedly aims to help drive mass adoption of Ethereum using the xDAI sidechain. Austin Griffith, a software engineer, and a Bitcoin enthusiast, said that the project would help countries with emerging economies become decentralized using the Ethereum network. He stated in a blog post: “These emerging markets are where we should focus our onboarding efforts. This is where Ethereum has the most potential to impact the world now.” He substantiated his aim by noting that it is hard to find important goods in emerging currencies with traditional currencies due to the fact that the value of their currencies fluctuate violently. He further stated that the exchange of value is one of the best aspects of the Ethereum space. The wallet is called “Burner Wallet” and works using the PoA [Proof of Authority] protocol on the xDAI sidechain to convert tokens from one chain to another. The transaction happens in under five seconds and gas costs are virtually zero. The post quoted: “One mobile phone can send DAI to another in 5 seconds with a simple QR code scan without any wallet download, this works on web browsers. Users can even send value through messaging services like WhatsApp with a simple link!” The wallet is meant for transferring or exchanging values in day-to-day transactions because a burner is generated automatically upon visiting the official website “https://xdai.io”. Since the private key is stored in a cookie, it’s not secure, so it is recommended to sweep the remaining cash into a private key and burn the private key. A Twitter user, Matt Garnet, commented: “Are the private keys encrypted in the cookie?” Austin Griffith replied to the comment saying: “Nope. These are burners. Don’t put very much money in them and burn them when you’re done. It’s all about ease of use.” The post Ethereum [ETH] network will help countries with emerging economies, says creator of Burner wallet appeared first on AMBCrypto.

2 days ago

VeChain Achieves the Milestone of 1 Million Clauses while Showcasing at first China International Import Expo

The 20th largest cryptocurrency has reached the milestone of 1 million clauses while shining in China by demonstrating at the first China international expo. Meanwhile, VET prices are in the red ta $0.0101. VeChain in the Limelight According to the data provided by VeChain Explorer, VeForge, VeChain has stricken a record by registering 1 million clauses. With 615.9k total transactions, at the end of last month, VeChain registered the highest transactions and highest clauses at 14k in the past two months at least. In its official blog, VeChain while explaining VeChainThor blockchain transaction model, had shared, “Each transaction may contain multiple clauses, and each clause contains the “To”, “Value”, and “Data” fields that can be used to commence different tasks such as payment or smart contracts.” In more simpler words, Redditor, Kogsi explained clauses, “Like, Instead of everyone driving with a separate car to the same destination, they use a limousine and drive together for less costs.” To execute clauses Gas is paid which according to VeChain is the “maximum amount of VeThor the sender is willing to pay to execute all the clauses in the transaction.” Additionally, “Clauses field is a set of single clauses. This allows a single transaction to have multiple outputs. The Clauses system yields flexibility and power beyond other blockchains.” Clause accommodates both the requirements i.e. transaction dependency or independency. Also, it processes tasks one by one in the order defined by Clauses field for proper execution. With over 1 million blocks at 1,151,685, it has about 61,526 accounts. Moreover, VeChain has already burned approximately 29 million VTHO. As for the transactions, 187 billion VET and 4.1 billion VTHO has been transferred. On another front, VeChain has been creating its presence in the Chinese market. Recently, VeChain demonstrated in the China International Import Expo that was attended by government officials, business communities, exhibitors, and professional purchasers from 172 countries and regions. The official announcement shares that VeChain detailed its various partnerships during the event. VeChain’s CEO Sunny Lu explained, “the ‘My Story’ and cold chain logistics solutions co-developed with DNV GL, which can significantly protect the quality of imported seafood products and enhance the customer experience and food safety.” When it comes to price, for the past one month, the prices of VeChain (VET) has been constantly on a downward movement as depicted in the below given 4 months chart. At the time of writing, the world’s 20th largest cryptocurrency has been trading at $0.0102 while registering 24-hours losses of 0.25 percent. With a market cap of over $563 billion while managing the daily trading volume at $8.6 million. The post VeChain Achieves the Milestone of 1 Million Clauses while Showcasing at first China International Import Expo appeared first on Coingape.

3 days ago

Cryptocurrency wallet Exodus adds NEO support in newest update

CryptoNinjas Popular bitcoin and cryptocurrency desktop wallet application Exodus today has announced support for NEO along with their regular optimizations. Currently as setup, although users will always generate GAS when using the NEO wallet, it will... Cryptocurrency wallet Exodus adds NEO support in newest update

3 days ago

Canadian Bitcoin Mining Firm Record-High Revenue in Q3 2018

When it comes to earning through cryptocurrency, Bitcoin mining is the center of attention these days. Reports revealed that Canada’s largest Bitcoin mining company, Hut 8 has mark high revenue during Q3 2018. A report published on November 08, 2018 shows the financial state of Hut 8. It has reached a record high of $13.5 million for the third quarter. Hut 8 is the largest Bitcoin mining company of Canada which has marked 27.7 million for the nine months starting from Jan 2018. Cost and Revenue Estimation However, the cost of mining a single Bitcoin seems lower than the current Bitcoin price. Significantly, the cost of Bitcoin mining come into view of $3394 in Q3 in against the present value of Bitcoin of $6400. Reports claim that the mining profit for Q3 estimated around $6.6 million which points Hut 8 as one of the lowest cost BTC mining firm in the world. On top of all, the profit margin it sets was 51 percent, while mining around 1000 BTC since its launch in December 2017. Over and over again, the cost of bitcoin mining is seen in comparison to the cost of oil & gas and the cost of Gold mining. And meantime, people find Canada and Africa has more potential to increase the volume of Bitcoin mining profit than its total cost. Noticeably, EBITDA (earnings before interest, taxes, depreciation, and amortization) looks lower and then the price of Bitcoin began appreciating through the same quarter. It has completed the installation and operation of 56 BlockBoxes in the City of Medicine Hat facility (CMH) by partnering with Bitfury, BTC mining equipment manufacturer. It has in total mined 1978 bitcoin during Q3, 2018 and closes US $16 million loan facility with Galaxy Digital. What’s your take on Bitcoin mining profit? Will Bitcoin price rise in Q4 2018? let us know The post Canadian Bitcoin Mining Firm Record-High Revenue in Q3 2018 appeared first on Coingape.

4 days ago

The need to know Blockchain Basics: What is NEO?

A cryptocurrency based on “an open network for smart economy”. NEO is a non-profit project that uses blockchain technology in order to create an ecosystem what it refers to as a “smart economy.” NEO seeks to fulfill a “smart economy” on the ledger of a distributed network. The smart economy that NEO is hoping to create takes individual user’s digital identities into consideration when looking to automate assets onto the blockchain using smart contracts. According to NEO, this is: “Digital Assets + Digital Identity + Smart Contract = Smart Economy”. The History NEO, which was rebranded from a company known as ‘Antshares’, is often referred to as the ‘Chinese Ethereum’ and has enjoyed a recent meteoric rise in popularity. The success owes partly to strategic partnerships with top-name brands - which aids in investor’s trust - and partly to funding from the Chinese government - which aids even further in investor’s trust. Founded in 2014 and released as a real-time open source on Github midway through 2015, the company boasts the title of two significant ‘firsts’. Claiming its place as China’s first open-source blockchain project, NEO also bags the prize as being the first Chinese project to see a remarkable amount of success in its initial coin offering with over $20 million USD in total funds raised. Even though NEO is compared to Ethereum’s network, it still uses a mining process which allows users to mine for the token GAS. GAS tokens are remarkable because they are different to NEO’s other tokens (creatively named NEO) and receive their own “special status” as a token. NEO has produced GAS in order for token holders to use on the NEO’s platform network and for a collection of NEO services. This hopes to achieve a demand since it is used for the ecosystem - which is ultimately good for holders. In turn, the more projects that use NEO’s network results in more demand for GAS tokens. Even though the two are often associated, there are some key differences between Ethereum and NEO in their aim and function. While Ethereum’s goal is to create a platform which will be more internationally accessible, free, and more trustworthy Internet and hopes to assist centralized institutions, NEO looks to focus the blockchain technology to do something similar but with future demands in sight - rather than looking to improve present pressures like Ethereum. The Features Digital assets are assets which have been programmed to exist in electronic form and have the capability to be noted on a blockchain ledger. This allows the assets to become traceable, transparent on the open ledger, trustworthy, and decentralized from the control of banking and governmental institutions. NEO’s blockchain allows users to register, trade and distribute numerous types of assets. NEO offers two forms of digital assets: Global assets - recognized by the entire blockchain system and can be identified by any smart contracts and users Contract assets - recognized only in the specific contracts and cannot be used inter-contractually, or across other contracts. Digital identity is the information of any individual, organization or entity which exists in the electronic form. More “mature” digital identity systems are based on the public key standard (which is X.509) and NEO looks to set and implement its system standard to the metric. NEO identity verification is offered in the forms of: Fingerprint Voice activation SMS Facial feature recognition A combination of verification methods Smart contracts are agreements placed on blockchain which enforce the terms of a contractual relationship using a cryptographic code - which reduces the liability of a contract agreement being broken. NEO is setting to create a system which will allow for the quick developments of smart contracts and easy implementation. From a technological standpoint, NEO’s system includes a wealth of potential: The Delegated Byzantine Fault Tolerance (DBFT) algorithm which is a consensus mechanism different to that of proof-of-work or proof-of-stake and provides the system with what it needs to resist the Byzantine General problems and maintain consensus even if there are potentially malicious parties on the system NeoX is a system which will operate and execute actions across various blockchains NEO Contract is a mechanism which looks to create smart contracts in easily scalable, high-performance ecosystems NeoFS is a decentralized storage service NeoQ is a cryptographic mechanism which creates a problem which quantum computers cannot solve; ensuring it is quantum-proof By offering these three in a neat little bundle, NEO gives users the freedom to not have to choose between the blue or the red pill and instead offers an attractive combination and calls it an economy. Basic Details The basic details of NEO are that there is a capped supply of 100,000,000 NEO that will be produced with a current market cap of $4,102,267,000 USD. The average block time is approximately fi

5 days ago

Why the Energy Sector Meets the Conditions for Decentralization

The following piece on decentralizing the energy sector was written by Richard Lohwasser, who holds a PhD in energy economics and is the CEO of Lition. He was previously a strategy consultant for McKinsey and director of Vattenfall. Lohwasser was also Managing Director of German Operations at ExtraEnergie. Decentralization. Digital autonomy. Circumventing corporate strangleholds on information. A new, democratized internet. The blockchain revolution has inspired a wave of ideological fervor around technological advancement that is unprecedented in the mild-mannered, minimalist world of the Silicon Valley tech giants. Crypto gurus, emboldened by new-found fortunes, decry centralized data systems, and herald an internet of no gods, no masters. Also read: Markets Update: BCH Rallies, XRP Nears ETH Market Cap The Democratization of an Industry It makes sense. When Facebook is listening to your conversations and tailoring ad content accordingly, and Equifax is losing credit card and social security numbers by the millions, burning the old house to the ground seems like a plausible solution. Blockchain startups left and right have latched onto this ethos of disruption, vowing to fundamentally redefine established industries from the bottom up. The purveying sentiment seems to be “Decentralize everything.” While breaking the grip of old guard institutions is a great rallying cry, there are a few important question to ask before trying to democratize an industry. Asking the Right Questions About Decentralization Why was the industry centralized in the first place? Industries like banking originally centralized to bring stability, security, and ease of use to consumers. While cryptocurrencies offer their own benefits, such as anonymous, worldwide transfers, fluctuating value, hackability, and over-saturation could prove that monetary decentralization isn’t the perfect application for blockchain, especially in regards to widespread adoption. Would decentralization improve the industry? Decentralization is only valuable when there is a network of participants to decentralize to. If there is a single service provider or a passive user base, decentralization can make the system unnecessarily inefficient. Diverse networks with intermediaries that do not add value or security are best suited to decentralization. Do people care enough to participate? The average person doesn’t want to micromanage every aspect of their digital footprint. Decentralization inherently encourages user participation. If users don’t care about interacting, the system must either have some level of automation or might be best left centralized. In the frenzy to decentralize via blockchain, many industries are introducing unnecessary systems than will only complicate service delivery. However, the modern energy market is primed for decentralization. Historically, energy was provided by massive corporations, who were the only ones with the capital to build the infrastructure required to generate power. Dirty coal and natural gas plants were often the only energy available. In this system, decentralization would be unnecessary, if not completely illogical. However, times have changed. A Decentralized Network for A Decentralizing Ecosystem Energy production has diversified. Your neighbors may have installed solar panels on their homes. A local biofuel plant might be opening a few miles down the road. A wind farm may be churning away just off the coast. Energy is getting greener and renewables are the future. Unfortunately, large utility companies, heavily invested in dirty energy, hold monopolies on power systems, which in turn holds the entire energy ecosystem back. Green producers are forced to sell through the utility companies as intermediaries. This barrier between producers and consumers drives up costs and stifles the growth of renewables. Decentralization would allow for energy producers and consumers to circumvent intermediaries to buy and sell directly, mitigating the current problems. Peer to peer trading could increase producers’ profits by 30 percent and save consumers more than 20 percent on their energy bills. In this situation, decentralization is imperative for both the economy and the environment. Higher profits would incentivize producers to participate in a decentralized network, but why would the average consumer care? The answer is twofold. The more agency a consumer has to feel like they are making a difference in the world, the more likely they are to partake in a sustainable behavior, like shoppers consciously purchasing fresh, local, farm-to-table foods in exchange for peace of mind that the produce did not use harmful chemicals and supports local farmers. The same concept is applicable to energy. Directly displaying energy sources allows consumers to decide what option best fits their budget and world view. If actively sourcing green energy entails more involvement than a consumer wants, AI interpreting data sets can ha

5 days ago

Giacomo Zucco Exclusive Interview (Complete and Uncut)

In his exclusive interview with Crypto Insider’s Vlad Costea, Italian Bitcoin maximalist Giacomo Zucco has been very talkative and open about his beliefs. He took his time to explain his vision for The B Foundation, he provided precious details about his personal definition of Bitcoin maximalism, and was even kind enough to rank the top 20 cryptocurrency projects on CoinMarketCap. In between, Mr. Zucco has also expressed his view on the cryptocurrency community at large and how the libertarian ideals were never dissolved by greed. The interview itself is 97 minutes long and does exactly what Giacomo Zucco suggests: it lays down the ideas that he never seems to find the time to write down in articles. It’s a collection of fascinating opinions on the current state of the cryptocurrency market and community, and it’s very likely that some moments will become a point of reference in the future. Enjoy watching this charismatic Italian deliver an entire marathon of arguments for Bitcoin maximalism! Attached you will find a complete transcript: Vlad: Hello this is Vlad and welcome to the Interview of Crypto Insider! Today I’m going to be talking with Giacomo Zucco who is a well known Bitcoin maximalist and one of the few people who embraced the label of being a maximalist despite all the bad meanings that it might have. And that’s something that we’ll be discussing today, so hello Giacomo! Giacomo Zucco: Hi everybody! We’re not so few, I mean there are a lot of people that are self labelling maximalist but, yeah. Vlad: It seems to me like a derogatory term on Twitter, and some people appropriate the idea and say “you know I’m also a maximalist but at the same time I also believe in Monero or in Litecoin or whatever”. And I remember the last episode of Magical Crypto Friends which is with Charlie Lee and Fluffy Pony, Whale Panda, and Samson Mow, and at some point they all said “you know we are all bitcoin maximalists in the sense that we want bitcoin to succeed and we want it to be the best coin but we don’t want it to be the only one, or not necessarily”. So do you think there are layers to being a maximalist? Giacomo Zucco: There certainly are because the term itself was created in a derogatory form from Vitalik Buterin and others in order to represent these approaches as wrong. So it was some kind of blockchain slang and some of us adopted that in order to diffuse their rhetorical attempt. So now everybody is using the term in different ways. I tried to give a presentation about a very very scary street definition of maximalist with a lot of bad connotation in order to try to prove that even that very very scary cult like definition of maximalist is actually very very close to what a cautious approach would be to this ecosystem. So yeah there are Fluffy Pony and Charlie Lee are people who are contributing somehow to bitcoin so in a way I would say they are defintiely bitcoiners. I tend to use the term maximalist in order to imply that I really do not think that altcoins can succeed in general. So while I’m not sure that Bitcoin will succeed, I’m kind of sure, as sure as I am as other things like that small private internet that you create in your garage is not going to take over the internet very very soon. In that same way I’m sure that altcoins cannot be sustainable and deliver what they promise. While bitcoin could very well fail itself. From a destitute point of view, I am like a fifth morning maximalistmeaning that I recognize right now that the USD unfortunately is the kind of money that people is using. It sucks because it’s manipulated and inflated and difficult to transmit over the internet without third parties and third parties can sensor you and spy on you and track you they can enforce KYC/AML mafias. So it’s a bad situation but that’s the reality. Bitcoin could, maybe overthrow that. I hope that it will. And I think there are very very good chances it will. While altcoins by definition I think they cannot succeed. Vlad: I remembered last week I had an interview with Jimmy Song and he had a controversial statement that it’s a good idea to spend with you credit card and then pay with bitcoin that you have. Do you think that up to this point it’s a better idea to actually use fiat for your purchases and save your bitcoin just for emergency spending? Giacomo Zucco: Yea I completely agree. Actually in the presentation of Riga about maximalism I included also this part. So I argued these points in a satirical and sarcastic way but also serious in a way with some nuances, I argued first my position about altcoins and that they cannot succeed. Basically, altcoins are a scam in very loose definition of the term for some, and a very strict definition of the term for others. The second point was that any important change to the base rules of bitcoin is also something that we should reject and we should basically not accept. And the third point was about spending. I simplified version of wh

5 days ago

Tether's New Bank Is In Trouble For Laundering $1.2 Billion

The US financial authorities are set to seize $1.2 Billion from Deltec Bank in the Bahamas, for helping Venezuelan President Nicolas Maduro to launder money. Deltec was recently revealed as Tether's official banking partner after weeks of uncertainty on the stablecoin's future. Abraham Edgardo Ortega, former financial chief executive of Petroleos de Venezuela, S.A., the state-owned oil and natural gas company revealed the details after entering a plea bargain with the US government. While Tether's price is back to $1, Deltec's problems could affect the price once again. Tether (USDT) is priced at $0.99175, gaining 0.11% in the last 24 hours. (VS)

6 days ago

Global Cryptocurrency Exchanges Cut Ties With Iran After New US Sanctions

A number of cryptocurrency exchanges have reportedly cut ties with Iran after the U.S. imposed tougher economic sanctions against the Islamic Republic. Sepehr Mohammadi, head of Iran’s Blockchain Community, told local media that Binance and Bittrex are some of the platforms to have unofficially dropped Iran from the list of supported countries to receive services. Also Read: Bitcoin Miners Flock to Paraguay as Country Weighs its Developmental Options Exchanges Impose Restrictions, but Assets Not Blocked On Nov. 5, the U.S. announced severe economic sanctions against Iran that, with the exception of just eight countries, cut the rest of the world off from the country’s oil, shipping and gas market, including its financial system. An earlier round of sanctions in May targeted Iran’s currency, aviation industry and other sectors, as President Donald Trump broke away from his predecessor Barack Obama’s engagement with Tehran. Measures against the financial system are expected to hinder any kind of trade with Iran. Speaking to IBENA, an Iranian news agency affiliated to the country’s central bank, Mohammadi said “some virtual currency exchanges have imposed restrictions on Iranian users, but no assets belonging to Iranians have been blocked.” The measures mean that people in Iran will no longer be able to trade cryptocurrencies across borders, limiting trade to a domestic market where bitcoin is sold at a significant premium relative to the global average price. It was not immediately clear which other exchanges had stopped offering services to Iranians. This will not be the first time that U.S. economic sanctions have struck at the heart of Iran’s cryptocurrency industry. In July, after the first round of sanctions, Mohammadi accused Donald Trump’s administration of stifling growth in Iran’s digital currency sector, claiming that the U.S. government confiscated about $6 million worth of Iranian-owned BTC. He said then: Last year (2017), the remarkable volume of bitcoin which belonged to some Iranians was confiscated due to unspecific reasons by the Federal government of the United States, and the process of confiscation is still continuing. The Iran Blockchain Community chairmain indicated at the time that owners of the confiscated BTC were unable to take legal action against the U.S. inside Iran, as cryptocurrencies were banned in the country. The Central Bank of Iran in April banned Iranian banks from dealing in foreign cryptocurrency citing money laundering and terrorism financing risks, but later rescinded the decision after gauging the full effect of the sanctions. Announcing the sanctions on Monday, U.S. Secretary of State Mike Pompeo warned: “It should be noted that if a company evades our sanctions regime and secretly continues sanctionable commerce in the Islamic Republic, the U.S. will levy severe, swift penalties on it, including potential sanctions. I promise you that doing business with Iran in defiance of our sanctions will ultimately be a much more painful business decision than pulling out of Iran entirely.” State-Backed Digital Currency Iran, the world’s third largest oil producer, is hoping to leverage cryptocurrencies to compensate for the expected squeeze in petrodollars arising from the economic sanctions designed to cut oil sales from the country, the economy’s lifeblood. Brigadier General Gholam Reza Jalali, head of Iran’s Civil Defense Organization, has talked about the “great opportunities” presented by cryptocurrencies, in the latest indication that Tehran is developing a state cryptocurrency. “Cryptocurrencies can help bypass certain sanctions through untraceable banking operations,” Jalali told the state media in October. He also emphasized the need for formation of a national cryptocurrency that can be used whenever necessary. The state-backed virtual currency will be similar to bitcoin in that transactions are carried out on an online ledger called a blockchain, but it will not be possible for people to mine it because the infrastructure will be private. The country has also approved plans for cryptocurrency mining for the national good. What do you think about the effect of U.S. sanctions on the cryptocurrency industry in Iran? Let us know in the comments section below. Images courtesy of Shutterstock. Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com. The post Global Cryptocurrency Exchanges Cut Ties With Iran After New US Sanctions appeared first on Bitcoin News.

6 days ago

NEO Details the Process of Becoming a Consensus Node on Its Network

The NEO public blockchain project backs NEO, the 15th largest cryptocurrency in the world. It has two distinctive tokens, NEO (NEO) and NEOGas (GAS). Of these two, NEO has 100 million tokens of which 50 million have been distributed to supporters while the other 50 percent is managed by the NEO Council to support the long-term development of the blockchain ecosystem. Now, the project is detailing exactly how these tokens will be used, and how new consensus nodes will be added to the blockchain. Governance, Coins and More The second portion of the 50 million NEO coins will not enter exchanges. Of these, 10 million tokens will be used to motivate NEO developers and kept for the members of the NEO Foundation. Another 10 million tokens will be used for motivating developers of the entire NEO ecosystem. 15 million will be used for cross-investment in other blockchain projects while the last 15 million will be kept for meeting contingencies. The NEO blockchain depends on both on-chain and off-chain governance methods. However, it expects on-chain governance to be the primary method of governance in the future where NEO token holders manage the network using GAS generated from NEO. Off-chain governance largely rests with the NEO Foundation. It works towards developing core projects on the blockchain, promoting the NEO ecosystem and maintaining the consensus nodes of the network. The Foundation will also be voting for qualified partners who want to run a consensus node on the network. How to Become a Consensus Node? The consensus node candidates can either be on-chain or off-chain, due to the difference in governance styles. The former will be selected on the basis of NEO community votes while the latter will forge a strategic partnership with the Foundation. Though consensus nodes will be paid a network fee, new economic models are also being discussed. To apply for the nodes, an applicant must have a public website, social media accounts, a location, organization name and a list of at least two-thirds of the team with pictures and background qualifications of each member. Additionally, applicants will have to list their contact methods, their solutions to long-term stability, maintenance, safety and security of the node and their failure tolerance/recovery backup options along with budget and plans for potential hardware scaling. Minimum hardware specifications include a 4 Core GPU, 10M bandwidth, 8 GB Ram and 100G Hard drive. NEO Details the Process of Becoming a Consensus Node on Its Network was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

7 days ago

Bancor launches EOS based cross-blockchain liquidity network: BancorX

On 5th November, the decentralized liquidity network, Bancor announced the launch of their new enhanced product named BancorX. This will help the users convert between Ethereum and EOS based tokens automatically. The product is said to be a Cross-Blockchain Decentralized Liquidity Network. Bancor’s tweet stated: “We are thrilled to announce that our Cross-Blockchain Decentralized Liquidity Network, #BancorX, has officially been pushed live — enabling automated token conversions between 110+ ERC20 and EOS-based tokens.” The decentralized application, Bancor has been designed on Ethereum blockchain which has processed over $1.5 billion token conversions till date. The token conversion on BancorX can be performed without matching the orders between the traders. The EOS based blockchain platform provides various advantages such as faster transactions, zero transaction fees, and the transactions are not prioritized by gas fees. Eyal Hertzog, the Co-Founder of Bancor said: “BancorX is based on the ability to move BNT — Bancor’s Network Token — between blockchains. This cross-chain functionality increases the utility of BNT as an inter-network token, connecting the EOS and Ethereum ecosystems today, and vastly more blockchains in the future.” Cross chain conversions on BancorX are achieved by transferring the Bancor Network Token [BNT ] between the EOS and Ethereum blockchain. BNT has the ability to destroy itself on multiple blockchains once the transfer has been completed. The circulating supply of BNT remains unchanged, even though it is involved in these token conversions. Also, BancorX lets all the users view the transaction hashes of the cross-chain conversion and can be verified on both the chains. Some of the well-known EOS projects which are launched on BancorX are Everipedia, MEET.ONE and Chaince. All the users are allowed to move there assets from Ethereum blockchain to EOS by integrating their assets with the new liquidity network. The blockchain firm is aiming to improve the user experience and remove the friction with the help of BancorX. According to the team, “with real blockchain interoperability, the possibilities for token-powered applications proliferate dramatically”. Yonas, a cryptocurrency trader says: “Just tried #BancorX . It is faster than any exchange I have ever used. Great job guys!!!” The post Bancor launches EOS based cross-blockchain liquidity network: BancorX appeared first on AMBCrypto.

7 days ago

A Relatively Unknown ERC-20 Token is Consuming 10% of the Network's Gas

Recently, a Reddit user complained that a relatively unknown ERC-20 token is using nearly 10% of Ethereum’s gas supply. The user pointed out that ethgasstation.info tracks the largest gas consumers and at the moment Omniscience Dedication Financial (ODF token) is virtually unknown. A search shows that there is a Mumbai company called Omniscience Capital but they appear to have no connection to anything related to blockchain. In spite of ‘not existing,’ there are more than 72,000 transactions within the contract and ODF tokens are in circulation but nobody knows what they are for and who they belong to. ODF token is not traded on EtherDelta and it is not listed on CoinMarketCap. Ethereum blockchain allows anyone to create and launch a token but they need to pay for the computing power used to support token transactions on the Ethereum network. (RS)

7 days ago

Saudi University and Blocktech Partner to Launch a Blockchain Lab

Blockchain firm Blocktech and Taibah University, Saudi Arabia have partnered to roll out a blockchain lab. Professor Walaa Alharthi will head the blockchain lab. This blockchain lab is focused on catalyzing the adoption of blockchain in the Middle East through its collaboration with various faculties of the university. Blockchain-based solutions for regional and national levels will be developed for areas like oil and gas, supply chain management, and finance. This collaboration follows Dr. Alharthi and her team's visit to Blocktech, early 2018, to learn about smart contracts, Zap bonding curves, and curation markets among other things. (KE)

9 days ago

@OfPillage There's a per-contract gas limit on deployment — ...

@OfPillage There's a per-contract gas limit on deployment — this is a limitation of the EVM and not the private cha… https://t.co/syT4xAx0pT

11 days ago

VeChain Partners with Two of China's Leading Gas and Energy Companies

VeChain (VET) recently partnered with two of China’s leading energy and gas companies, ENN Energy Holdings Limited and Shanghai Gas (Group) Co., Ltd., with the goal of harnessing the VeChainThor Blockchain to enable a new liquified natural gas (LNG) management solution for the Chinese government. VeChain is responsible for providing the core blockchain technology and the necessary software services while the energy companies are responsible for the design and system construction of LNG-related business scenarios, as well as overseeing the project and delivering any necessary vehicles/equipment. (JF)

11 days ago

PumaPay’s Blockchain Powered Payment Solution PullPayment Now Live On Mainnet

Decentralized Vision, the innovative firm behind PumaPay PullPayment Protocol has announced the launch of version 2.0 of the PullPayment Protocol on Mainnet, making it easy for customers and merchants to transact with advanced billing options. Importantly, version 2.0 of PumaPay’s payments solution supports recurring payment on the Ethereum network, simplifying DLT-based transactions for everyone. Version 2.0 is the proof of concept of the PullPayment smart contract which will, in the long run, launch the complete functionality of the PumaPay platform. PumaPay PullPayment version 2.0 comes with a vast array of exciting features, which include: -Convenient Subscription - This allows users to choose their preferred recurring billing pattern. Merchants can choose to subscribe either monthly, weekly, biweekly and others. Free Trial Subscription - As the name implies, merchants a given a free trial of the PumaPay payment system, after which they may decide to get a month’s subscription. -Single Payment with Subscription - This feature allows customers to pay a hugely discounted initial fee for a limited period, followed by a full subscription. For example, users could pay $2 for the first week, followed by the full monthly subscription once the period elapses. Single Pull Transaction - this gives a client the option of executing a one-time PullPayment, most suitable for daily transactions. Notably, the PumaPay PullPayment Protocol makes it easy for merchants to bull their clients in digital currency, eliminating the complexities that come with crypto payments. With the PullPayment Protocol, merchants will no longer have to pay exorbitant card transaction charges and other hidden fees. Instead, merchants will only pay very minimal gas fees. Users also benefit from the superfast transaction processing time of the PullPayment Protocol. Users also do not need to worry about their personal details, as the anonymity of users is protected, thanks to the PumaPay cryptocurrency wallet. In addition to supporting the new billing system, PumaPay wallet gives users direct access to their subscriptions without any form of third party interference, and changes are also free of charge. To ensure the system runs smoothly, PumaPay supports the HTTP feature and SDK toolset makes the PumaPay solution compliant with all merchant sites. Interested users can download the PumaPay cryptocurrency wallet on all play stores applicable to them, as the wallet is available on Android and iOS platforms. Once installed, users can send receive or store PMA token, ETH and other ERC20 tokens. PMA token is now live on many crypto exchanges including Bittrex, UpBit, HitBTC, CoinBene, and others. The platform is looking to launch its merchant portal shortly. “We’re always looking to improve and develop our solution to make it more valuable for both merchants and customers, and ultimately contribute to our community and the DLT movement,” said CEO of PumaPay, Yoav Dror. Twitter: https://twitter.com/PumaPay Facebook: https://www.facebook.com/PumaPay/ LinkedIn: https://www.linkedin.com/company/decentralized-vision/ Email: Alona@blonde20.com +972-507782344 The post PumaPay’s Blockchain Powered Payment Solution PullPayment Now Live On Mainnet appeared first on ZyCrypto.

11 days ago

VeChain partners with Shanghai Gas and ENN to pilot blockcha...

VeChain partners with Shanghai Gas and ENN to pilot blockchain-enabled Liquified Natural Gas solution prior to nati… https://t.co/xiGyYL5Ipz

11 days ago

Paper Claiming Bitcoin Will Cause Catastrophic Global Warming Filled with Inaccuracies

A new paper published in scientific journal Nature titled ‘Bitcoin emissions alone could push global warming above 2 °C’ appears to be filled with inaccuracies that misdirect this dire prediction. The Paris Agreement was signed by 176 countries and is designed to mitigate greenhouse gas emissions so anthropogenic global warming does not exceed 2 °C, which some scientists say would be catastrophic. The paper states that drought, wildfires, storms, heatwaves, floods and sea level rise will become more common if the 2 °C threshold is breached. Sea levels will certainly rise in such a scenario due to melting polar ice caps, and heatwaves will become more common since the planet will become warmer. As for the other catastrophes like drought, floods, and storms, they will shift locations as the climate changes due to changes in large-scale atmospheric circulation patterns, but not necessarily increase on average. Places that are not used to floods might start getting floods, while places plagued with floods might be relieved of their flooding problems, for example. From 1860 to 2014. 584.4 gigatons of carbon dioxide (GtC) was released by human activity, mostly from the burning of fossil fuels. There has been 0.9 °C of global warming during the same period of time. Greenhouse gases like carbon dioxide block longwave infrared radiation from going out to space, reflecting it back to the Earth, which warms the planet. However, it is important to note that not all of the temperature increase can be blamed on greenhouse gas emissions, since changes in solar heating and other non-linear systems in the ocean and atmosphere play essential roles in climate change. The paper estimates that it will take 231.4 to 744.8 GtC being released to reach the 2 °C anthropogenic global warming threshold, and this range seems to appropriately account for non-linear systems in the ocean and atmosphere, whose effects on the climate are difficult to predict when aggregated. Digiconomist, a popular site for tracking Bitcoin mining energy consumption, is referenced in the paper. Digiconomist assumes that 60% of mining revenue is spent on operational costs, and with the assumption of USD 0.05 per KWh, and 0.7 kg of CO2 released per KWh, this yields an emission of 33.5 megatons of CO2 (MtCO2) annually. A study in June 2018 found that the real energy consumption of Bitcoin mining was half of what Digiconomist says. The study calculated the energy consumption based on the spectrum of Bitcoin mining rig hardware, rather than the overly simplistic calculation that Digiconomist utilizes. Further, the study found that Bitcoin mining is fueled primarily by renewable energy like hydroelectric and geothermal power, since electricity rates are much cheaper near major sources of renewable energy. Therefore, greenhouse gas emissions are possibly less than half of those calculated by Digiconomist. The paper being discussed in this article used their own methods to calculate Bitcoin mining greenhouse gas emissions and somehow came up with 69 MtCO2 per year. This is more than double the Digiconomist estimate. The paper then uses an average of dishwashers, electricity, and credit cards to estimate how fast Bitcoin will proliferate globally. There are 314.2 billion cashless transactions per year according to the paper, of which Bitcoin represents 0.033%. The paper extrapolates that Bitcoin will represent all of these cashless transactions in less than 100 years. Doing the math, for Bitcoin to achieve 314.2 billion transactions per year there would have to be 6 million transactions per block. Some totally full blocks that are 1.2 MB have 3,000 transactions. Thus, the block size would have to be 2.4 GB in the future according to this paper’s calculations, assuming 3,000 transactions is equal to 1.2 mb. This would be completely unsustainable for the Bitcoin network, and would not happen. Second layer solutions like Lightning Network, which use practically no electricity, would be implemented before block sizes are increased beyond the current 1.2 MB approximate limit. The end results of this paper’s calculations show Bitcoin mining cumulatively releasing 500+ GtC by 2040, equivalent to all of humanity’s CO2 emissions since 1860. By 2060, the projection shows 1,000+ GtC being released by Bitcoin mining. Summing up the inaccuracies in the paper: scalability is mishandled, since second layer solutions like Lightning Network will be used instead of increasing block size to allow more on-chain transactions. A significant fraction of Bitcoin mining is powered by renewable energy, which barely releases greenhouse gases relative to fossil fuels; the paper does not account for renewable energy at all. The estimates of Bitcoin’s energy consumption are double that of Digiconomist, and the latter has been scrutinized for overestimating by about 100%. Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to adve

12 days ago

Blockchain and Artificial Intelligence Can Take the Oil and Gas Industry to Operational and Financial Excellence

The world is becoming more aware of the uses and benefits of blockchain technology with every passing day. The oil and gas industry could also achieve increased financial and operational success using blockchain technology and artificial intelligence. Harshit Sharma, from Lux Research, shared his insights on the industry at the recent OSEA2018 Conference organized by UBM. There he talked about the crucial role that four emerging technologies could play in the digital transformation of the industry. The Search for the Digital Oilfield One of the most discussed topics of the industry in the past few decades, the “Digital Oilfield” is not just an abstract concept, but the technological ideal of the sector. Digital technologies have always been at the forefront of discussion whether it is related to finding more oil or managing operations more efficiently. To make any real impact on the industry, however, the participants of the industry have to look into emerging technologies. This digital leap is also a necessity for the sector. According to a 2017 projection made collectively by the World Economic Forum (WEF) and BP, the oil and gas industry could create an additional $1 trillion in economic value if it follows through with a full digital transformation. The industry has adopted data processing technology and seismic data acquisition technologies at a much faster rate than other sectors. IoT is also expanding in the industry consistently. The Four Most Promising Oil and Gas Technologies Lux Research laid out four technologies that could have the greatest impact on the digital transformation of the industry. The first among them is downhole communication. This sensor-based technology makes the cornerstone of IoT systems for data acquisition as well as communication in the oilfield. The industry’s focus on fiber optics and acoustic telemetry could be helpful in downhole sensing. Edge computing is another emerging technology that the industry could use, especially as it moves to the cloud. Lux research suggests: “As the interest in offshore projects continues to grow, we expect a higher adoption of edge computing solutions with several existing companies pivoting towards the offshore industry for new opportunities.” Artificial intelligence too will be one of the most impactful additions to the sector, helping to create simulated logs like Quantico Energy Solutions which received investments from Shell in 2015. Shell has reported over 80 percent savings in logging costs by using these solutions. Finally, blockchains will help in changing the industry from the ground up. The tangible benefits and ROI on blockchains is yet to be seen. Lux Research states: “Although organization and cultural issues will pose challenges for blockchain adoption, the industry has proven its openness to integrate new digital technologies into its operations in recent years.” Blockchain and Artificial Intelligence Can Take the Oil and Gas Industry to Operational and Financial Excellence was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

12 days ago

What to Expect at the 4th Ethereum (ETH) Developer Conference that Starts Today in Prague

The fourth annual Developer Conference held by the Ethereum (ETH) community kicked off today in Prague, Czech Republic. Simply known as DevCon4, the four day event will run till the 2nd of November. The annual conference is where Ethereum based designers, developers, researchers and artists meet to further educate and empower the community to build more and better decentralized applications. Topics at DevCon4 The major topics of discussion during the Developer conference are 6 and as follows: Scalability Security Privacy Developer Experience UX and Design Society and Systems All about Scalability Many Ethereum developers, enthusiasts and investors are particularly interested in the state of improving the throughout of the network. Many investors believe that a breakthrough in scaling the platform, will result in the price of ETH regaining past glory in the crypto markets. To cater for this, the agenda includes the following sessions in the four days at the event: Swarm Team Update (October 30th): Led by Aron Fischer of the Ethereum Foundation, attendees will be updated on the progress of SWARM: a native data storage and content distribution infrastructure layer of the “Web 3.0” STARKs (October 31st): a workshop to expose Ethereum developers to STARK technology and science. Ethereum Co-founder, Vitalik Buterin, had proposed the use of the ZCash technology to scale the platform Optimizing Smart Contracts by reducing Gas Fees (October 31st) Raiden Network (November 1st): How the Raiden protocol can allow the network to become fast, cheap and scalable. Raiden is an off-chain scaling solution, enabling near-instant, low-fee and scalable payments State of Plasma (November 2nd): the speakers will update the community on the current state of plasma research and the work currently being done. One variant of Plasma known as Plasma Cash will be discussed. The latter allows for high performance sidechains More on the sessions during the fourth Ethereum Developer conference can be found on the online Guidebook dedicated to the event. In terms of real-time updates, the team has provided their twitter page of @EFDevcon. What are your expectations of the Ethereum developer conference in Prague? Please let us know in the comments section below. [Image courtesy of devcon4.ethereum.org] Disclaimer: This article is not meant to give financial advice. Any 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 What to Expect at the 4th Ethereum (ETH) Developer Conference that Starts Today in Prague appeared first on Ethereum World News.

14 days ago

Project Update #20: Making progress on key technical feature...

Project Update #20: Making progress on key technical features like gas rewards and fallback mechanism. Introducing… https://t.co/8BSUR09LX4

14 days ago

TriForce Tokens Steadily Making Progress On Blockchain Gaming Ecosystem

UK blockchain based startup TriForce Tokens has been hard at work, making their dream of disrupting the gaming industry a reality. In order to remove intermediary inefficiencies and costs, technological advancements have been in the works. Current State While the ecosystem is already experiencing growth regarding users and strategic partnerships, with successful launches of new games and more in the pipeline, at current rates, a bottleneck will be reached. That’s because despite however efficient, fast, or secure TriForce’s network design is, they are still limited by Ethereum’s limitations. Since the TriForce Token team recognizes this impending issue, they have been steadily at work, developing their own blockchain ecosystem. Future System The future system starts with transferring over to the Lisk blockchain and forking their own chain off of Lisk. Lisk offers a higher transaction per second capability, as well as comparable speed and security to Ethereum. A high TPS is especially crucial for TriForce Tokens as recording the numerous movements, trades, and other actions that gamers perform can quickly bring a network to a stall if there isn’t enough network throughput. To keep all these transactions economical, TriForce Tokens will charge zero gas, meaning all operations mentioned above will not incur an economical penalty for gamers. JavaScript will also be implemented, one of the most commonly used languages. This allows talented developers to be more inclined to develop DApps or games on the blockchain without the barrier of having to learn a language. Another significant update in the works is the implementation of Proof of Play (PoP) and Proof of Stake in combination for a unique hybrid consensus model that empowers the gaming community. A testnet is expected at the beginning of 2019 with the above features, with mainnnet deployment expected sometime in the middle of next year. New gaming tokens will also be released, which will be swapped with the current ERC20 tokens at a 1:1 ratio. About TriForce Tokens Disrupting the gaming industry through blockchain, the decentralized gaming platform offers developers to connect directly with game players, creating a unique community where players can actually interact with the developers and discuss different aspects of games, such as new updates and releases. Through the direct contact of creator and consumer, the entire traditional distribution channels are eliminated, making games cheaper and having a higher retention rate. TriForce Tokens has already released a number of PC and mobile games, including Eximius, a combination of FPS and RTS game that pitches 5 men teams against each other for domination. The last phase of their token sale is in progress, with a price of $0.15 USD for 1 FORCE. The last stage carries weekly lowering bonuses, from 5 to 15 percent. To visit the FORCE tokens website, click here. Those interested in reading the whitepaper to learn more about the project can do so here. To talk with the team as well as community members, hop into their Telegram channel here. Gamers can also communicate on their Discord server here. For social media updates, make sure to follow TriForce tokens on Twitter and Facebook. This is a sponsored article and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research. The post TriForce Tokens Steadily Making Progress On Blockchain Gaming Ecosystem appeared first on NullTX.

14 days ago

Gods Unchained Review - How to Buy Gods Unchained Packs, Part II

This is a following article to the first part : Gods Unchained Review - The Hearthstone of Crypto, Part I. In the previous one, we presented the basics of the game and what are the Gods powers. Now, we’re moving further to explain the card purchasing process. Firstly, Gods Unchained is a TCGs - a Tradeable Card Game - where you obtain cards via opening random packs. The packs are paid and the cheapest one costs $2.4 while the most expensive one is ~$200. The cards are all unique ERC-721 tokens - with 4 different rarities (Common, Rare, Epic, Legendary) and 4 different ‘shine’ levels (Standard, Gold, Shadow, Diamond). Each card have a Purity value and the highest purity value will have shinier in-game graphics. The probably of shining level, rarity and purity is programmed into smart contracts. There’s also another term that you should know: Scarcity. The scarcity value is the other number of cards with the same rarity and shine - but probably a different purity. Odds & Type of Packs Let’s start with the shine levels. There are 4 shine levels that a card could have: Plain - 93.8% of cards have the plain shine level. Shadow - 5% of cards have the shadow shine level. Gold - 1% of cards have the gold shine level. Diamond - 0.2% of cards have the diamond shine level. There’s also the chance of finding a mythical card. Well, the chance is actually 1 in a million - but you never know. A mythical card is completely different from the others. There are 4 mythical cards that will be revealed every year - and which cannot be used in tournaments. In fact, the last mythical card was put to auction for the amazing amount of 146.28 ETH. This card is now the second most valuable card in the TCG world. And for this year, there are still 2 other cards that can be found even in the $2.40 packs. There are also 4 rarity levels for each card: Common - 72.5% of cards have the common rarity level Rare - 23% of cards have the rare rarity level Epic - 4% of cards have the epic rarity level Legendary - 0.5% of cards have the legendary rarity level. A list with all the cards from Gods Unchained ca be found on CardsofGods and for more information about the cards and their value - you can check GodsUnchained.info How to get Shiny cards? Shiny cards appear to be the most valuable, mostly because those are the rarest and have the coolest in-game cosmetic effects. But how can you get a shadow, gold or even diamond card? Well, you can do it by two ways: Purchase a shiny legendary pack - Which costs $1 ETH and will have at least one card that will be Shiny and legendary. Combining low tiered cards - You can use five standard cards to create one shadow one - and five shadow one to create a gold one. And of course, you will then need five gold ones to create a diamond one. This means that using 125 standard cards you can have your own diamond shiny card. Now, the cheapest card now worths 0.0010 ETH. So, to create your first diamond card you’d need 0.125 ETH. Therefore, with 1 ETH you can create about 8 diamond cards - which can have the common rarity or you may be lucky and get a legendary. How to buy Gods Unchained Packs? There are 4 types of Gods Unchained packs: Rare - Price: 0.012 ETH - Presale Exclusive: The Rare pack contains 5 exclusive Genesis Cards. At least one card is Rare or better. Epic - Price: 0.075 ETH - Presale Exclusive: The Epic pack contains 5 exclusive Genesis Cards. At least one card is Epic or better. Legendary - Price: 0.112 ETH - Presale Exclusive: The Legendary pack contains 5 exclusive Genesis Cards. At least one card is Legendary, and one is rare or better. Shiny Legendary - 1 ETH - Presale Exclusive: The Shiny Legendary pack contains 5 exclusive Genesis Cards. At least one card is Shiny and Legendary, and one is rare or better. As you can see, there are different benefits for each pack. It all depends on your budget and how much you want to spend. And who knows, maybe you’ll find the next Mythical card. Now, we’ll present a step-by-step small tutorial on how to purchase Gods Unchained packs. Step 1: Install Metamask Chrome Extension. Metamask is one of the most interesting wallets out there. After you create an account, you will be able to deposit funds directly into your new ETH wallet. A step-by-step tutorial was made by the CryptoCompare team - How to use metamask. Step 2: Fund your newly created Metamask wallet. Be sure to send an extra $1 to cover the GAS fees. The packages can be bought one by one - but the GAS can prove itself very costly - by 6,18,50 or 100 packs. With about 1.2 ETH you’d be able to purchase 100 rare packs - guaranteeing you an amazing collection of 500 cards that you can later user to create diamond cards. Step 3: Enter on the Gods Unchained Website. Select the pack you want and click the Buy button: Step 4: Now a window from the Metamask prompted as in the picture below - you may select a lower fee for gas, around 3-4 cents should be ok. Click on Confirm to buy your fi

14 days ago

eToro becomes first investment platform to offer Binance Coin (BNB)

BNB becomes the thirteenth crypto asset available on eToro’s platform, eToro offers both utility and security tokens - eToro, the global, multi-asset, investment platform with over ten million registered users, has today added the Binance Coin (BNB) to its product range. This brings the total number of cryptoassets available on eToro to thirteen. eToro is the first platform to offer BNB to investors and traders to buy or sell using fiat. BNB is a token issued by Binance, which is one of the world’s largest crypto exchanges. Following an ICO in 2017, Binance issued BNB which is an ERC-20 token on the Ethereum blockchain. BNB is ‘the gas that powers the Binance ecosystem’ which means that it can be used to pay trading fees at a discount and with partner applications. Binance plans to develop a decentralised exchange (Binance Chain) which will use BNB to power it. BNB was established with a total supply of 200 million tokens and Binance repurchases and ‘burns’ tokens each quarter. This will continue until 50 percent of the total supply is burnt. As investors increasingly seek to diversify their crypto holdings, BNB joins Bitcoin, Ethereum, Bitcoin Cash, XRP, Litecoin, Ethereum Classic, Dash, Stellar, NEO, EOS, Cardano and IOTA on the eToro platform. BNB will also be added to eToro’s CryptoPortfolio, which enables investors to diversify across all available cryptocurrencies (weighted by market cap) with just one click. Like all other cryptoassets, investors choosing BNB on eToro own the real underlying asset, with eToro acting as custodian. Yoni Assia, Co-founder and CEO at eToro commented: “Despite sensational headlines about the death of crypto, we continue to believe in the potential for crypto assets, as do our clients who are increasingly looking to diversify their crypto holdings. In response we will continue to add the leading crypto assets to our range and we are pleased to add BNB to the platform. “As a regulated securities broker we have the ability to offer both utility and security tokens on our platform. We support the movement of assets onto the blockchain and the tokenisation of securities. In fact, we believe that in the future we will see the greatest transfer of wealth ever, onto the blockchain.” Changpeng Zhao, Founder and CEO of Binance, said: “We are honoured and excited to be listed on eToro. With this addition, the Binance coin can reach millions more people, many of whom are more accustomed to the traditional financial industry. As an utility token, we believe in creating long term utility and value. We will continue to do so together with eToro.” The post eToro becomes first investment platform to offer Binance Coin (BNB) appeared first on CryptoPotato.

14 days ago

TriForce Tokens Announces Development of Unique Blockchain Ecosystem for Gaming Industry

Focused on uniting game developers and gamers, pioneering blockchain gaming company, TriForce Tokens has announced the active development of its own custom blockchain. Scheduled to be deployed in 2019, this custom blockchain is set to address the scalability and transaction fee bottleneck that has limited the adoption of blockchain technology by the gaming industry. Triforce Token’s innovative solution for the gaming industry is set to eliminate the disconnect between game developers, gamers, and gaming assets. A Blockchain FORCE Garnering critical acclaim from the successful launch of its games, TriForce Tokens is showcasing the untapped potentials of blockchain-based gaming, allowing developers to truly connect with their community while giving gamers the ability to own their assets. However, since the platform is currently based on Ethereum’s mainnet, its innovations will always be dependent on what Ethereum is or is not capable of, hence the need for a custom designed blockchain tailored to meet the demands of the gaming industry. Basing its development off a fork of Lisk’s blockchain, TriForce Tokens’ blockchain will boast of the following features: Faster transaction and Better Scalability: Forking off a highly scalable and secure blockchain, TriForce Tokens will be building off a slew of innovative features on Lisk’s blockchain including faster transaction speed, higher transactions per second, and good security. JavaScript Support: Integrating support for one of the most commonly used programming languages, TriForce Tokens will enable developers to easily understand and develop on the blockchain without having to take a detour to learn a new language. PoP/PoS Hybrid Consensus: TriForce Tokens will be using a unique hybrid consensus model to put gaming back into the hands of the community. Its Proof of Play and Proof of Stake hybrid consensus model is set to not only make it the most secure gaming ecosystem but also free and fair. Zero Gas Fee: With TriForce Tokens, gas/transaction fees are a thing of the past. All transactions on the blockchain will come at no cost to both the sender and receiver. 3rd Party dApps: Developers can create, develop and deploy dApps on the network, bringing greater utility to games on the network. Non-Fungible Tokens: TriForce Tokens’ blockchain will also be able to issue non-fungible tokens, different from the regular tokens on the network. TriForce Tokens’ blockchain development will solely cater to the needs of the multi-billion dollar gaming industry. The blockchain, whose active development is set to unleash a testnet early 2019 and mainnet by mid-2019, will issue its own gaming tokens. The current ERC20 tokens will be swapped at a 1:1 ratio with the blockchain native tokens when it releases. About TriForce Tokens TriForce Tokens is disrupting the gaming industry through a decentralized and disintermediated platform designed to empower gaming and foster innovation. By enabling developers to directly connect with gamers, the platform is developing an all-encompassing ecosystem to drive gaming innovations forth where game development can be made cheaper and retention rate sustained. Already, the platform has released a number of PC and mobile games ahead of the last phase of its token sale. The ongoing last phase allows contributors to acquire FORCE tokens at $0.15 per token with weekly lowering bonuses, from 5 to 15 percent.Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: The post TriForce Tokens Announces Development of Unique Blockchain Ecosystem for Gaming Industry appeared first on BitcoinNews.com.

15 days ago

NEO Aims to Penetrate the Gaming Industry: Special Interview

NEO is one the most well-known cryptocurrencies, with an over one billion-dollar market cap, it is about to celebrate two years for its Mainnet. We had the honor of talking with Zhao Chen, the general manager of the NEO Global Development (NGD). Zhao introduced the NEO project and the developer’s community, which is one of the most special communities that exist today. We talked about gaming DAPPS on the blockchain, about security tokens, and how NEO is planning to penetrate regulation. Enjoy! What does it mean to be a General Manager at the NEO Global Development Project? The NEO is a community-driven project, and we have a developer community all over the world. We also have 30 to 40 full-time people in our Shanghai office for our new global development (NGD) team. Our mission is to undertake the strategy execution for the NEO ecosystem growth on behalf of the NEO foundation. For the ones who don’t know the NEO project well could you explain what NEO is, and its main advantages? Zhao Chen, General Manager at NEO Global Development NEO was initiated in 2014 and started on GitHub in 2015, the mainnet launched in October 2016, and we’re already approaching our two-year anniversary. The founders are Erik Zhang and Da Hongfei. Today, the NEO blockchain is one of the most widely used and up and running blockchain projects. It doesn’t use the Proof of Work mechanism. Instead, it applies the Delegated Byzantine Fault Tolerance (dBFT). We also have a dual-token model which consist of NEO and GAS. NEO is used for governance and GAS for utility purposes. As a NEO token holder, you can be part of the governance and can vote on your preferred consensus note. With a GAS token, you can make a smart contract deployment. So, both dBFT and the dual-token model mechanism are unique in the whole ecosystem. Even though a lot of blockchain protocols are claiming to enable the functionality of smart contracts like NEO, none of them, as far as I know, are based on dBFT and apply the dual-token model. We have a unique smart contract system. It uses a virtual machine which is totally different to existing virtual machines. It’s open source so everyone can check out the functionality of the NEO smart contract. It is different to Ethereum which only enables the Solidity programing language. NEO enables developers from different programming language backgrounds to write a contract in C##, Microsoft.net, Java, Kotlin, Go, and Python. In a market of 20 to 50 billion dollars a year this could be huge Why do you think there is so much potential and hype around the gaming DAPP’s on the blockchain? And how NEO is going to implement it? NEO was never planned to be used for a specific scenario or business. It was designed in the whitepaper as infrastructure for the smart economy. We believe that in the future digital assets will cover so many areas we can’t even imagine. But from today’s point of view, the lowest hanging fruit within the space are native digital assets, and games are already in a digital form on your laptop or your phone. These are areas that are quite easy for game developers and game players to adopt. One of the game developers major pain points is funding. Games are not always a profitable field, and game development costs a lot of money. So, crowdfunding in games is the number one creative option where we think that blockchain can help. A second pain point is a centralized database versus distributed ledger technology. What if a centralized enterprise decided to shut down their server? Your game playing history and game assets would be lost forever. Distributed Ledger Technology (DLT) solves that problem because you can upload your virtual assets into the blockchain, this makes it immutable, tradeable, and transferable to other entities or even to other ledgers. That means you won’t lose them. From a financial point of view, it will improve the liquidity for the whole virtual goods transactions in the gaming industry. In a market of 20 to 50 billion dollars a year this could be huge. For blockchain-based games, we already have a ready to use Integrity Development Environment (IDE). It’s for game developers to use so that they can just release their games in both the traditional form and on the NEO blockchain. It makes their job easier and hopefully helps them, and the gamers. Zhao Chen together with Tamar Salant (NEO Global Business Development Manager) and Arnon Benshahar (CryptoPotato) Laws are written in text form. They are essentially not explained digitally. Transferring that logic into software or digital form is a constant effort. How do you see the future of security tokens regarding mass adoption and regulation? How is the NEO project going to be involved? I believe we can facilitate many more industries. Just to re-emphasize that gaming and security tokens are just the two piloted areas. Regarding the security token, the critical market today is the financial market, and we must admit it’s not regulated. We ne

15 days ago

Ripple’s Cory Johnson compares XRP’s technology to Bitcoin 2.0

In a recent podcast presented by Bezinga’s Fintech Focus, Cory Johnson, the Chief Market Strategist of Ripple shared the technology behind XRP and the difference between XRP and Ripple. Cory explained Ripple as an enterprise software company which builds software and sells it to financial institutions, like banks and remittance companies. Some of their products use a cryptocurrency as digital assets called XRP and the firm is trying to solve this really big problem which is moving money across borders. According to Cory Johnson: “It is insane in this era of technology when I can send a text message to a friend in Rome with emojis and a GIF attached to it, or I can send an email to a friend in Cape Town, South Africa in three seconds with an Excel spreadsheet attached with all kinds of information. But I can’t send anything of value. I can’t send value or money when anything less than five or 600 basis points of costs and will take me three to five days. That’s crazy, and that doesn’t reflect the best of technology.” He also mentioned that Ripple is a software which is deployed by banks, financial institutions so that the Know Your Customer [KYC] rules and the Anti-Money Laundering [AML] rules are obeyed by the banks. They also discussed the difference between Ripple and XRP and the core relationship between both. Cory compared the difference between Ripple and XRP to the difference between Exxon and oil. Drawing reference to ExxonMobil, a multinational oil and gas corporation, he said that they are completely different things and are occasionally related. According to him, Ripple has several engineers who develop, sell software and help the market get the software. “Some of these software solutions use XRP, just as ExxonMobil does lots of things, and some of their work is discovering and exploiting the use of oil”, stated Cory. The Ripple official further added: “XRP exists completely separate of Ripple. XRP was created, all the work to create XRP started before Ripple was a twinkle in anyone’s eye.” Johnson said that XRP would continue to exist even if Ripple were to go away and that many other companies are using XRP as a core technology. He also compared XRP’s technology to Bitcoin 2.0. He said that both the technologies are similar, but XRP is faster and does not use tons of power. Also, the cryptocurrency is not controlled by Chinese miners and is a blockchain digital asset that is used principally for the movement of value. The post Ripple’s Cory Johnson compares XRP’s technology to Bitcoin 2.0 appeared first on AMBCrypto.

15 days ago

Welcome to Medicine Hat, Home to Canada’s Biggest Mining Farm

Small cities and towns in Canada have emerged as popular destinations for cryptocurrency mining companies. Canada’s Largest Mining Farm Medicine Hat, a city in Alberta, a western province of Canada has traditionally been the hub of the oil and gas-based industry. Now the city is known for a different reason. The town is the home to the largest mining operation in Canada, reveals an article published earlier on Wednesday in macleans.ca. The mining farm is located on the outskirts of the city and has been built by Hut 8, a cryptocurrency mining and blockchain infrastructure company. The mining operation was set up earlier this year and happens to be the firm’s second site in Alberta after Drumheller. The firm claims to be the largest miner in Canada and has partnered with the Bitfury group, a full-service technology company that creates software and hardware for blockchain mining infrastructure. The mining operation employs 40 locals. One of them, Brian Cave, an electrician by profession earlier worked with the oil and gas industry. According to the article, he did not know much about Bitcoin before taking up the job with Hut 8. On knowing about the project’s electricity demand he had commented, “How could it need that much power?” The operation according to the article consumes about 63 Megawatts of power at any given time which reportedly is the same as that consumed by the whole city on a cold day. The town has a population of 63,000. A Popular Mining Destination While China maintains its position as the leading mining nation, Canada has emerged as a favorite destination too. Locations like Alberta provide ideal conditions like cold weather and cheap electricity. “We can get really cheap power in Venezuela, we can get really cheap coal-based power in Kazakhstan or Romania, but the fact that you can get good stable government in Canada makes it a great combination,” says Andrew Kiguel, the company’s co-founder and CEO of Hut 8. The company claims that so far it has mined more than 3500 Bitcoins in the district. The farm is powered under a 10-year contract by the city’s grid that produces power from natural gas. “I’m in the business of making electricity and selling it to industrial users,” said Ted Clugston, the city’s mayor. He further stated that the city itself has not invested in Bitcoin. According to him, the new firm in town is “mining for ones and zeros” by converting “gas into electricity, which is being turned into Bitcoins.” The city has been looking to diversify the local economy and eliminate the dependency on oil and gas. Most people in Medicine Hat and Drumheller are employed in the oil and gas sector and have faced job losses on industry downtrends. Hut 8 has been contributing to the community by sponsoring the junior hockey teams in both cities and plans to donate $20,000 in scholarships to Medicine Hat College. Canada is now home to a growing number of mining companies due to the ideal conditions it provides along with a friendly and stable government. Do you think Canada will emerge as the most popular mining destination? Let us know in the comments below. Images courtesy of ShutterStock The post Welcome to Medicine Hat, Home to Canada’s Biggest Mining Farm appeared first on Live Bitcoin News.

18 days ago

Taiwan Prepares Itself For ICO Regulatory Framework

Investing in the Initial Coin Offering (ICO) markets may soon become incredibly safe and easy for Taiwanese investors, according to a recent statement from the chairman of the country’s main securities regulatory agency. The comments regarding the imminent introduction of an ICO regulatory framework came from Wellington Koo, the chairman of Taiwan’s Financial Supervisory Commission (FSC), who said that they are currently in the process of drafting ICO regulations that would make them as liquid and safe as retail stocks. According to a report from the Taipei Times, who originally reported Koo’s comments, the FSC is hoping to have the regulation in place by June of 2019, and is currently in the process of implementing a review process and definitions for which types of token offerings would qualify to be regulated products. Koo importantly noted that the regulations would exempt digital currencies and tokens that are used for purchases at specific retailers or organizations (like ones offered by gas stations, grocery stores, or airlines). According to Chinese Nationalist Party Legislator, Willian Tseng, who spoke about ICO regulations right before Koo, the impetus for an ICO regulatory framework is the amount of fraud that currently exists in the industry. Koo then noted that by regulating token offerings, investors will have access to better products, and fraud will diminish. “The more we regulate, the more this new economic behavior wanes,” he said. Regulatory Framework Specific to ICO Tokens, not Cryptocurrencies Taiwan’s Securities and Futures Bureau Director-General, Tsai Li-ling, importantly noted that the ICO regulatory framework will be entirely separate from any potential regulations surrounding cryptocurrencies. Tsai explained that “people often confuse an ICO with the trading of cryptocurrencies,” but further added that the government already has a framework to regulate token offerings that are securities, and that the new regulations would pertain more to tokens that aren’t directly defined as security tokens. It is important to note that this is a positive development for the cryptocurrency and ICO markets, as this type of “do-no-harm” regulation is what many analysts see as being the next evolutionary step that takes the cryptocurrency markets to new highs. Koo added that “the commission has no intention of curbing the creativity and productivity associated with cryptocurrencies if they are not used as securities.” Another positive development for the token markets is the recent news regarding South Korea potentially lifting its 2017 ICO ban at some point this year. While speaking at the 2018 Korea Blockchain Expo, Lee Hye-hoon, the chairperson of The National Assembly Special Committee, said that the ban may be lifted in the “near future.” News surrounding Taiwan’s new regulatory framework for ICOs and South Korea’s potential ICO ban lift are incredibly positive for the token markets and could drive an influx of funds into well-regarded projects that will be compliant under the new regulations. Featured image from Shutterstock The post Taiwan Prepares Itself For ICO Regulatory Framework appeared first on NewsBTC.

19 days ago

Albania Already Working on Cryptocurrency Regulatory Framework: Prime-Minister

With the target to create a crypto-friendly legislation environment while parallel showcase better and improved competitiveness/leadership in the Balkan Region of Europe, Prime Minister of Albania Edi Rama highlighted out that the gov is open to new developments and ways to attract investments. According to TiranaTimes - On October 22nd, Mr. Rama noted how Albania could become a hub of potential for investors to target and be part of the revolution that virtual money could bring. The officials are working on drafts and assessments to introduce regulation proposals already. “As part of our effort to open up new markets and create new opportunities for well-paid jobs and qualified people... we are exploring the possibility of setting up a regulatory framework on cryptocurrency which is a shocking novelty nowadays and where the opportunity to be innovative and set up a center of gravity for innovative financial markets is open for every country despite their level of development,” says Prime Minister Edi Rama. “For the moment, we are assessing and working on the drafting of a regulatory framework after having conducted a thorough analysis and study. If the results are satisfactory, then we will promote even outside Albania, the country’s willingness to become a hub for numerous potential investors that target getting involved in this revolution of global finances,” Rama said last weekend, speaking at a ceremony on the launch of the Albania-Italy offshore section of the major Trans Adriatic Pipeline bringing Caspian gas to Europe. Despite the yearly long tanking and negative stance held by Albania’s Central Bank, this marks a date of embarking into a new page of workforce modernization. The ACB and the Financial Supervision Authority continuously warned traders or investors of crypto-risks and it never licensed a firm to issue its virtual coin. Based on the comments, it is well understood that the country’s government is aiming to become the next Island of Malta which offers a friendly-regulated space for cryptocurrencies startups and firms in general. The post Albania Already Working on Cryptocurrency Regulatory Framework: Prime-Minister appeared first on Ethereum World News.

20 days ago

Albania to Explore Framework for Cryptocurrency Regulations

The government of Albania has stated that it will be considering the creation of cryptocurrency regulations. The eastern European nation hopes to encourage innovation, investment and, in turn, create jobs relating to the transformative financial technology by providing a welcoming base of operations for startups. Albania Hoping to Lure Investors and Startups with Crypto Regulation According to a report in local news source The Tirana Times, the Prime Minister of Albania has stated that creating a regulatory framework could help establish the country as a hub for innovation in the rapidly evolving financial technology space. Edi Rama spoke on the topic over the weekend during the launch ceremony of the Trans Adriatic Pipeline that will transport Caspian gas to Europe: “As part of our effort to open up new markets and create new opportunities for well-paid jobs and qualified people... we are exploring the possibility of setting up a regulatory framework on cryptocurrency which is a shocking novelty nowadays and where the opportunity to be innovative and set up a centre of gravity for innovative financial markets is open for every country despite their level of development.” Rama went on to state that his government had already undertaken considerable research on the subject. Pending favourable results from the assessments completed, the country will begin to promote itself as a central hub for businesses dealing with cryptocurrencies. Previously, Albania’s government and financial regulators have offered warnings to potential investors, but have not been forthcoming with specific rules relating to the space. In July 2017, the central bank stated that virtual currencies existed outside the supervision of the authorities. The institution went on to say that investments were the responsibility of individuals, along with providing a reminder to the public that the Albanian Financial Supervisory Authority has issued no licences for companies creating and distributing virtual currencies. The head of Albania’s FSA spoke to The Tirana Times about the risks the space poses for investors earlier this year: “Of course there might be individuals or businesses in Albania investing online using the internet in companies which are issuing these initial coin offerings outside of Albania, but they should be aware that they carry all the risks and are responsible for their own choices when making such an investment.” In exploring the implications of digital asset regulation, Albania joins the likes of Malta, Gibraltar, and Switzerland. These jurisdictions, along with having much greater experience in attracting startups by using favourable regulations, all have something of a head start on Albania. They will, therefore, offer strong competition for the Western Baltic state - particularly given that the likes of Binance has already moved to Malta and Gibraltar has licensed its first cryptocurrency exchange as part of its groundbreaking legislative programme. Featured image from Shutterstock. The post Albania to Explore Framework for Cryptocurrency Regulations appeared first on NewsBTC.

20 days ago

NEO Name Service Sees Over 10,000 Users Register .NEO Domains in the First Month

NEO Name Service (NNS) is a domain service that was recently launched by NewEconoLabs roughly one month ago. The service allows NEO users to replace long public key strings with .neo domain names and to date, more than 10,000 .neo domain names have been registered at a total cost of 18,000 GAS ($97,000). NewEconoLabs’ founder Liu Yongpxin says that this is “the most used dApp on NEO”. Bespoke domain names will make it easier for crypto-merchants and users to send and receive payments in the future as names like crypto.neo and google.neo can be used in place of lengthy public key strings. (RS)

22 days ago

Ethereum Testnet Issues Now Fixed

Within hours of a bug that split Ethereum’s testnet being found, the problem was fixed and as was predicted, the glitch was related with the new Ethereum Improvement Proposal (EIP) which adds efficiency gains to calculations with only Parity to apparently be affected. A Rust developer called, Wei Tang said: “The bug has been fixed. It affects parity and aleth, which we had the same bug,” with aleth being a C++ eth client. He continued to say, “I fixed the SSTORE refund saturating sub bug and confirmed that it indeed computed the same state root as geth. I guess when Afri wakes up, we’ll try to get a patch release really soon which should fix the current consensus issue on Ropsten.” An Ethereum developer called Martin Holst Swende tested the fix with it showing that the two main clients of Ethereum, Geth and Parity, can now be in sync. An independent research and software dev, Alexey Akhunov spoke on the matter and said: “I suppose Parity just uses a different way of accounting the refunds. Instead of having global counter + changes in the journal, it has substrates with their own counters, which could be applied or not applied (if reverted) during the finalisation. I remember that geth had a similar approach before Shanghai DoS and then changed it to the journal. But I suppose Parity is much more sparing with allocations, so it can afford that.” According to TRUSTNODES, this essentially means they take an alternate approach to calculating gas which is all well and good if they reach the same result. Tang says: “It is related to a gas refund for SSTORE gas reduction. Our code failed to account for the case that a substate refund can go negative. “The general idea to hard fork Ropsten is so that we can have real-world data to test the Constantinople hard fork so that bugs like this can be spotted. We had some expectations that Ropsten might be down for a few days (but we didn’t expect it to be a Saturday!). Of course, any consensus bugs on mainnet would be really serious.” Since the bug has now been found and fixed, Parity needs to release a new client of sorts, after a new testnet block will be set and thus beginning the testing process once more. What are your thoughts? Let us know what you think down below in the comments! googletag.cmd.push(function() { googletag.display('div-gpt-ad-1538128067916-0'); }); The post Ethereum Testnet Issues Now Fixed appeared first on Crypto Daily™.

23 days ago

XRP is not a security and the SEC will recognize it, says Ripple’s Chief Market Strategist

Cory Johnson, the Chief Market Strategist for Ripple, recently appeared on an interview to speak about regulations in the cryptocurrency space. Moreover, he also spoke about the status of XRP as a security in the eyes of the United States Securities and Exchanges Commission [SEC]. XRP, as a cryptocurrency, remains in a zone of regulatory uncertainty regarding its status as a security. The declaration of the asset as a security would result in the ecosystem being more closed, as investors would find it more difficult to get into the space. Moreover, this would throw a wrench in Ripple’s plans of using xRapid, as exchange platforms may not continue to list the coin. However, Johnson gave his two cents on the matter in an interview with CoinTelegraph: “It’s really clear to us that XRP is not a security. XRP’s relationship to Ripple is a proof of that. But maybe more importantly, you’ve also got the XRP... You can buy all the XRP you want, it doesn’t give you the rights to a dime of the company’s profits, or earnings per share, or dividends; doesn’t give you a single share or any interest in the future of this company.” Furthermore, he went on to say that even if Ripple, the company, was to “go away”, it would not “make a bit of difference to XRP”. This is due to the fact that the XRP ledger continues to exist separate from Ripple, stated Johnson. He went on to elaborate: “For that reason, I think when the SEC takes a good hard look at this, and we know that they’re starting to use that work, they’re going to recognize, I suspect, that XRP is so clearly not a security.” He also spoke about the protection of the investor, which is generally seen as the end goal of regulators in the financial space. He stated that there have been “crooks who show up” to steal money when there are new ways to make it. He stated: “We certainly see it in everything; we saw it in atomic energy, we saw it in the oil and gas sector way back... We certainly saw it in the dot-com era, (and) we saw it in subprime financing. We’ve seen it in the world of crypto; we’ve seen these really sleazy offerings that look like they’re not actually trying to start businesses, but just separate people from their money.” This has caused the SEC to step in, driving investor protections to emerge all around the world. However, Johnson stated that it “can’t happen fast enough”, going on to say that it makes it difficult for those who are pursuing “legitimate technological solutions” to do so. The post XRP is not a security and the SEC will recognize it, says Ripple’s Chief Market Strategist appeared first on AMBCrypto.

24 days ago

BP says oil at $80 a barrel is “unhealthy for the world”

“The oil prices in the world are too high and it’s unhealthy for the world,” said Bob Dudley, the chief executive officer of British oil-and-gas giant BP. Some emerging market economies such as South Africa, India, and Turkey were suffering from their highest-ever prices of gasoline because the market price of oil—which is traded in US dollars—has been rising while their currencies depreciated rapidly, Dudley said. “There’s a healthy price for oil and energy and I believe that balances producing countries and consuming countries,” he added. “In my mind, it’s somewhere between $50 and $65 a barrel. The world can live with this.” The price of Brent crude, the European benchmark for oil, has increased by nearly 20% this year. Earlier this month, it topped $86 a barrel. Economic and geopolitical tensions, such as the US sanctions against Iran and Venezuela’s economic collapse, are among the reasons for the appreciation. It has prompted analysts to speculate that oil prices could return to $100 a barrel for the first time since 2014 (paywall). Dudley was speaking yesterday (Oct. 18) at the One Young World summit in The Hague, a gathering of nearly 2,000 young people from all over the world who are working to drive social change, such as ending sexual violence, improving access to education, and holding governments accountable for human rights abuses. Execs from BP and Shell are here to speak about how they planned to increase access to energy. In a Q&A session with attendees, Dudley said that oil prices were “artificially high” thanks to Venezuela “defying economic gravity” and the Iran sanctions. If these forces retreat, and the oil price is determined by fundamental measures of supply and demand, then the price should return to between $60 and $65 a barrel, Dudley said. But right now, he said that the Iran sanctions were affecting everything. On the sidelines of the conference, Dudley added that BP wasn’t considering being part of the special purpose vehicle that the European Union, China, and Russia are setting up to circumvent US sanctions on Iran. The arrangement would allow payments with Iran to avoid touching the US financial system. “We aren’t going to try [it],” Dudley said. “I think it’s full of risk.” At the summit, Dudley spoke mostly about the energy transition that was required to meet a low-carbon future, less than two weeks after a major UN report said there was only 12 years to avoid a climate-change catastrophe. Dudley is currently the chair of the Oil and Gas Climate Initiative, a collection of oil companies that are responding to climate change. Dudley told the young people at the summit that the most important thing was to squeeze coal out of mix and replace it with natural gas. Coal still makes up about a third of the world’s energy supply. Natural gas emits far less carbon emissions but produces methane, a greenhouse gas. BP is working to find the right technology to reduce methane leaks. He also said fracking, a process that uses high pressure water and sand to extract gas from shale rock, has “been turned into the myth of the monster beneath.” After a seven-year hiatus, fracking has restarted in the UK amid local protests. Dudley argued that there was still so much coal usage in the world because of government policy and economics. Governments need to put a price on carbon, he said, especially because renewable energy “can’t do it alone” when it comes to reducing emissions. “Even optimistic projections only see renewables making up around one third of the energy mix by 2040,” he said. That means a combination of oil, natural gas, and renewables will feature in the future energy mix. Dudley said he expected oil demand to peak in 2042. “But when it does peak, it’s a long plateau,” he added. Technology will be the key to cutting carbon emissions down to zero at that point, and not just relying on renewable energy, he added.

24 days ago

Tesla shrunk the battery to start selling its promised $35,000 Model 3 (kinda)

Tesla is finally producing a $35,000 Model 3—if you include a $7,500 federal tax incentive and state rebates in California. If you’re calculating the true cost of ownership including gas savings, Tesla calculates, the final price is closer to $31,000. But the sticker price? That’s still $45,000. You’ll have to wait until 2019 for the $35,000 one. Just released lower cost, mid-range Tesla Model 3 & super simple new order page https://t.co/cz0TQn7IOZ — Elon Musk (@elonmusk) October 18, 2018 The new math, and lower price, will no doubt please those on Tesla’s waitlist for the last two years as the carmaker ramps up production of the Model 3. Most of the cars sold to date have been priced around $60,000 as the company seeks to turn a profit this year. While the Oct. 18 announcement isn’t the $35,000 base price Musk promised, the new car is a good deal cheaper—mostly because of a smaller battery. An electric car’s lithium-ion battery cells are the most expensive part of the vehicle. Musk said the new battery with 260-mile range, rather than 310 miles for standard batteries, has a “disproportionate” amount of empty space. Musk said that allowed Tesla to start selling a cheaper Model 3 now rather than waiting until February. Orders are expected to arrive in six to eight weeks. The electric carmaker’s fortunes are riding on the Model 3. After selling the successful Model S luxury sedan and Model X SUV, Tesla has sought to join the ranks of the world’s major carmakers selling millions of cars per year. Its first attempt to produce a car in such large numbers has not gone smoothly. Dysfunctional assembly lines, early quality control issues and a lack of manufacturing capacity turned Tesla’s growing pains into existential threats. After switching on its newest assembly line (flown in at great expense from Germany), its production capacity has steadily increased. It produced a record 53,239 Model 3s last quarter, and 80,142 vehicles overall, about 50% more than its previous high set the prior quarter, according to the company Automobile experts who have disassembled the Model 3 have come away impressed. Auto manufacturing analyst Sandy Munro said Tesla’s new car contains some of the most advanced technology in any automobile. The motor’s unique design means it may cost 10% less than competitors, and its battery and electric systems, in particular, are ahead of its rivals. Tesla managed to cram 50% more energy into battery packs that are 20% smaller. But its manufacturing processes? Not so much. The new assembly line at Tesla’s factory in Fremont, housed under a semi-permanent tent, is an awkward marriage of automation and manpower. Certain components are complex arrangements of welds, rivets and metal pieces rather than simpler, more affordable designs. Munro argued elements of the chassis are heavy and over-engineered. But he heaped praise on the car, saying Tesla could achieve margins of 29% based on the materials (before counting research, labor, and logistics), but it needs to streamline its manufacturing. “If that car was made anywhere else, and Elon wasn’t part of the manufacturing process, they would make a lot of money,” Munro told Bloomberg. “They’re just learning all the old mistakes everyone else made years ago.”

24 days ago

6 Facts About Changpeng Zhao (CZ Binance) You Probably Didn’t Know

Changpeng Zhao, popularly known by his cool moniker CZ, is the CEO of Binance, the world’s largest crypto exchange. Binance grew from an idea to the biggest market for crypto trading in just a few months. CZ, who loves wearing black, turned into a crypto billionaire pretty quickly, becoming a sensation in the world of blockchain. Let’s take a look at some interesting facts about him. CZ Rose to Fame in Less than 180 Days Binance was founded on July 1, 2017. It became the biggest crypto exchange market in the world in a little under 6 months. Its initial coin offering was Binance Coin (BNB) that started at around ¢11 and now is valued around $10. It was over $24 in January this year. He Worked on Another Trading System before Founding Binance In 2005, Zhao was in Shanghai, where he founded Fusion Systems. It was a trading platform for brokers. He started his crypto journey in 2013 with blockchain.info. In 2014, he sold his Shanghai apartment for about $1 million to use this money on Bitcoin. He Loves Binance and wears Binance Well, this goes without saying. After all, he founded the company. But the fact is that he loves it so much that he isn’t passionate about houses or cars, but only Binance hoodies and T-shirts. He doesn’t own a single car or a house. But check him out in his mostly-black clothes. And since he’s generally seen in black, we’re guessing that’s his favorite color - like Steve Jobs. Always wears Binance and black. With Malta’s Prime Minister. Source: Twitter The Lambo Giveaway He seems to love rather unusual marketing tactics. Binance has offered several promotions. One of them had a Lamborghini as a giveaway! While CZ himself isn’t interested in cars, his company’s promotional methods have generated a lot of attention. Although we’ll have to give it to his marketing chief who came up with this idea. The LAMBO Giveaway He Worked at McDonald’s CZ was born in Jiangsu, a coastal province in China. His parents moved to Canada soon after he was born. As a teenager, he started working to help with the household expenses. In the 1980’s, he joined McDonald’s and flipped burgers to help his family. Later, he went to McGill University and studied Computer Science. He was also passionate about stock markets and trading, which made him choose this career. Same Colors? McDonald’s He’s Minting Money Now Worked at gas stations and McDonald’s, and he’s here now. His company, Binance, is expected to rake in about $1 billion in profits in 2018 alone. While big cryptocurrencies such as Bitcoin, Ethereum, and Ripple saw a little downfall in their values this year, Binance has been booming and is making big bucks for CZ. With such unprecedented success, Zhao has become a crypto star, and rightly so. His company, Binance can easily handle 1.4 million transactions each second. The post 6 Facts About Changpeng Zhao (CZ Binance) You Probably Didn’t Know appeared first on CryptoPotato.

24 days ago

Rwanda Government to Track Rare Earth Metal Mining With the Help of Blockchain Technology

The Rwandan government is working to track the supply chain of rare earth metal Tantalum which is used in consumer electronics. Rare earth metals like Tantalum are often considered as conflict metals because they originate from areas of conflict and there have been reports of child and bonded labour being used in their mining operations. Rwanda is one of the biggest exporters of Tantalum in the world and is also plagued by many of the social problems associated with the industry. The governments in the conflict mineral areas are now focusing on the supply chains of the rare earth metal to hold the mining companies accountable and increase transparency in the shady business. Tracking the supply chain is incredibly difficult because of lack of trusted technology and now blockchain is being pondered over for a possible solution. For this purpose, the Rwandan minister Francis Gatare, who is also the CEO of the mining, petroleum and gas board has announced that a blockchain initiative called “New and Innovative Mineral Traceability Solution” is being introduced in the country and has already been adopted by one exporter based in the country. The blockchain-based tracking system is being developed alongside a London-based startup called Circulor. Circulor is offering a supply chain tracking system of their own built on the Hyperledger Fabric blockchain system. Circulor’s aim is to promote ethical sourcing of rare earth minerals and other mining products, especially from conflict zones. According to Douglas Johnson-Poensgen, the CEO of Circulor: “Circulor will not only assist miners in Rwanda to adhere to strict guidelines laid out in international agreements to remove conflict minerals from the supply chain but will also record all the production stages before a smartphone or computer reaches the consumer.” Blockchain-based ethical mining solutions are becoming popular around the world. De Beers, a diamond company started a blockchain trial for tracking diamonds from mines to shelves. Chinese startup ZhongAn Technology has also launched a gem-tracking application for increased transparency in the gems industry. Local African governments are also working hard to develop a reliable blockchain-based tracking system for all the rare earth metals being mined from their countries. Follow BitcoinNews.com on Twitter: @BitcoinNewsCom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: Pexels.com The post Rwanda Government to Track Rare Earth Metal Mining With the Help of Blockchain Technology appeared first on BitcoinNews.com.

25 days ago

Rwanda Adopts Blockchain Technology to Combat Conflict Mining of Tantalum

The Rwandan Government is partnering with Circulor to track the mining and supply of tantalum using blockchain technology. Tantalum used in the production of capacitors found in electronic products like laptops and mobile phones, is one of the four commonly mined conflict metals. Rwanda is reportedly the largest producer of the metal. Combating Conflict Mining with Blockchain Technology. According to a publication on Circulor’s website, the project is live and will help track the supply of tantalum from mines in Rwanda to final consumers. The CEO of the Rwandan Mining, Petroleum and Gas Board announced the project at a meeting of the country’s mining association. Speaking on the project, the CEO of the mining board who is also a Government Minister said the following: Rwanda Mines, Petroleum and Gas Board today has been introduced to a new and innovative mineral traceability solution using blockchain technology. The initiative is already being implemented by at least one exporter from Rwanda. Using blockchain technology and smart contracts, the Circulor platform will improve transparency in the supply chain, and allow companies to trace the metal even in intermediate processed form. The platform built on Hyperledger Fabric (an open source enterprise solution hosted by the Linux Foundation), will use smart contracts to verify events and transactions. PRG Resources, a mining company ran a test of the system to tag and trace tantalum mined in Rwanda passing through its supply chain. The mining company is now using the platform according to the announcement. Consequently, as the world’s largest producer of Tantalum, Rwanda is using this initiative to secure its place in the global supply chain by complying with international efforts to eliminate conflict mining. Blockchain in the Mining Industry Beyond powering bitcoin and other cryptocurrencies, blockchain has found application in the mining industry. There is an ever-present call to eradicate the supply of conflict mined minerals and metals to the global market. Some companies are relying on decentralized technology as a monitoring system to trace provenance and maintain the supply of legally mined resources. EWN previously reported about EmTech’s blockchain powered supply chain platform that tracks gold, from the mine to a storage facility. The company created a blockchain solution that ensures the supply of ethically mined gold to its clients. However, some blockchain critics maintain that the technology is not infallible since it is reliant on the data fed into it. So, will blockchain live up to its growing hype in the mining industry? Image courtesy of Wikipedia The post Rwanda Adopts Blockchain Technology to Combat Conflict Mining of Tantalum appeared first on Ethereum World News.

a month ago

Silicon Valley is awash with Saudi Arabian money. Here’s what they’re investing in.

Torture. Assassination of political dissidents. Financing terrorism. Civilian airstrikes. Oppression of women and religious minorities. Saudi Arabia’s record on human rights ranks among the world’s worst. Yet the US has counted the country among its allies for a steady supply of oil, willingness to contain Iran’s ambitions, and fighting the Islamic State. After the apparent killing (paywall) and gruesome dismemberment of critic and Washington Post columnist Jamal Khashoggi at a Saudi Consulate in Turkey this month, allies in the US may be falling away. The US has a cozy relationship with the country. Saudi Arabia was the first foreign country Donald Trump visited as president, and his son-in-law Jared Kushner has a chummy relationship with Crown Prince Mohammed bin Salman, the leader of the country’s absolute monarchy since 2017. Trump has stood by the monarch without criticism since entering the White House. Last year, Trump said in a speech before Arab leaders in the Saudi capital of Riyadh that he was not interested in pressuring them on human rights. This week, Trump simply repeated bin Salman’s account of the alleged murder. “Just spoke with the Crown Prince of Saudi Arabia who totally denied any knowledge of what took place in their Turkish Consulate,” Trump tweeted on Oct. 16. “He was with Secretary of State Mike Pompeo during the call, and told me that he has already started, and will rapidly expand, a full and complete investigation into this matter. Answers will be forthcoming shortly.” But even reliable allies are now turning against the country. Republican senator Lindsey Graham said this week he can no longer do business with Saudi Arabia as long as bin Salman remains in charge. The boycott of the country has spread to business leaders, especially in Silicon Valley. Uber CEO Dara Khosrowshahi and other prominent figures including executives at Ford, Google, and JPMorgan Chase (paywall) have pulled out of the country’s annual “Davos in the Desert” event this month. Will this extend to entrepreneurs taking Saudi money? It won’t be easy. The Kingdom’s influence is spreading each year. Saudi money is already behind many of the biggest tech startups in the US, including Lyft, Uber and Magic Leap. Saudi Arabia’s massive $45 billion check to SoftBank’s Vision Fund, the largest venture fund of all time, means Saudi money will likely be part of the biggest pool of venture money for years to come. The Vision Fund has made at least 26 investments including into Slack, WeWork, GM Cruise and other brand names. Quartz collected data from private equity research firms Quid and PitchBook to show how Saudi Arabia has managed to become one of Silicon Valley’s biggest backers through direct investments and backing venture funds. How much have Saudis invested in Silicon Valley? Billions of dollars. Over the last five years, Quid estimates Saudi investors have directly participated in investment rounds totaling at least $6.2 billion. Since the exact composition of each round is not public, it’s not possible to say how much of this money came directly from the Saudis compared to other investors participating in the rounds. But the Saudis are among the world’s biggest check writers. As the Kingdom diversified its wealth away from dwindling oil reserves, financial vehicles have funneled petrodollars into Western companies. After signing just one such deal in 2009, at least a dozen investments per year have been recorded by Quid since 2012. These direct investments come on top of Saudi Arabia’s role as one of the world’s biggest limited partners backing investment funds. Two $45 billion investments in SoftBank’s venture funds in the last three years have instantly made it among the world’s biggest financial players in the venture world. Who’s doing the investing? Saudi Arabia’s money is in multiple funds with global ambitions. One of the biggest is the Saudi Public Investment Fund, which said it plans to grow from around $100 billion today to $2 trillion by 2030. Among the public funds investing in US companies, the top ones tracked by private equity research firms are listed below. This doesn’t encompass the massive pools of money others in Saudi’s royal family are investing in companies through personal channels. The primary Saudi investors in US companies from 2008-2017 according to Quid and Pitchbook are: # of US investments # of tech investments Saudi ARAMCO Energy Ventures 16 4 Saudi Public Investment Fund 6 4 Riyadh Valley Company* 2 1 The Kingdom Holding Company 1 1 Vision Venture Capital* 1 1 Saad AlSogair* 1 n/a (funds with * only include investment tallies between 2017-2018) What are they investing their money in? Since 2008, Quid shows the Saudis moving away from industrial sectors such as chemicals and materials in favor of technology like augmented reality and ride-share platforms such as Lyft and Uber. The country’s state oil firm, ARAMCO, led the push into industrials, but more

a month ago

Rwanda to Use Blockchain to Eradicate Conflict Resources from Supply Chain

The government of Rwanda is leading an innovative mineral traceability initiative using blockchain. To that effect, the project is working with U.K.-based startup Circulor and its blockchain powered supply chain platform to record the provenance of metals in order to eradicate sources of funding for conflict minerals. Circulor to Help Rwanda Comply with International Agreements Tantalum - a rare metal used to make consumer electronics, chemical process equipment, nuclear reactors, aircraft, and missile parts - is mostly found in Central Africa, including Rwanda and the Democratic Republic of Congo. As the natural resource is extracted in conflict zones and sold to perpetuate the fighting, it has become considered a conflict metal. Francis Gatare, a Rwandan government minister and the CEO of the Rwandan Mining, Petroleum and Gas Board, said the initiative is already being implemented by at least one exporter from Rwanda, in order to comply with the internationally mandated efforts to stop the funding of conflict minerals. PRG Resources, a mining company who supplies Apple with tantalum, is reportedly using the system. The Circulor platform will be used by companies to tag and trace tantalum mined in the country as the supply chain becomes more transparent with the blockchain system. Even intermediate products mixed with other raw materials will be listed on the platform, according to Douglas Johnson-Poensgen, CEO of Circulor. “Circulor’s technology will bring greater transparency to the tantalum supply chain. Our blockchain platform will empower consumers to understand where the materials in the products they buy come from and also make it harder for materials that are not ethically sourced to pass through the supply chain. It will also dramatically reduce costs for miners who current shoulder a disproportionate share of the cost of compliance.” Built on Hyperledger Fabric, the platform will not only help compliance of international agreements regarding the removal of conflict resources from the supply chain, but will also record all stages of production before it reaches the end consumer. The Wall Street reform known as the Dodd-Frank Act approved during Barack Obama’s presidency included legislation regarding conflict minerals. The law compelled U.S. companies to audit their supply chains to make sure they don’t fund militias in war-torn countries. Corruption, bureaucracy, and logistical delays using legacy processes, however, have led foreign companies to look elsewhere, which has driven prices down and weakened the mining economy. The blockchain powered solution may bring the wanted transparency with a speedier process. Featured image from Shutterstock. The post Rwanda to Use Blockchain to Eradicate Conflict Resources from Supply Chain appeared first on NewsBTC.

a month ago

DAOstack’s GEN Token Gets Listed on Quoine Cryptocurrency Exchange

On October 9th, 2018, DAOstack, One of the biggest blockchain platforms announced the introduction of its GEN token on the Quoine’s new Liquid Exchange. The recently established digital assets platform by Quoine is incorporating DAOstack token GEN. This package will officially start October 9th, 12:00 JST and will be recorded on Liquid. The following trading pairs will now be accessible as of the said date, as thus: GEN-ETH, GEN-BTC, and GEN-QASH, with GEN-fiat exchanging pair accessible sooner rather than later. DAOstack is a Web3-native organization that permits similarly invested networks to follow up on shared objectives or qualities without relying upon concentrated power focuses. It is a sort of WordPress for decentralized autonomous organizations (DAOs). The DAOstack platform will have the GEN token assigned a network of DAOs to serve various purposes. The GEN prediction network effectively utilized by DAOs will have the capacity to adequately filter proposals by their predicted chance of passing. In exchange for possible profit and be rewarded for correct predictions, the newly introduced GEN partners necessary attention. Alchemy’s Alpha version, which is DAOstack’s first application for decentralized governance, is currently available on the Ethereum platform. With a full version focused for 2019, Alchemy will make it straightforward for DAOs of great sizes to adroitly allot assets and casting a ballot control. A people group of indicators is as of now dynamic and developing, and its expanding size, ability, and system impact will profit all DAOs utilizing Alchemy. Since indicators must hold GEN to stake on a proposition, they have an extra impetus to help all GEN-associated DAOs accomplish their objectives. DAOstack’s technique for GEN incorporates a large number of the highlights that made Ethereum effective. For one, DAOstack is empowering item and network advancement by diverting assets from its token sale through the Genesis DAO; the principal DAO sent utilizing the DAOstack platform, made as a proof of concept and an open-source establishment for DAO improvement. Matan Field, DAOstack architect, and CEO opined that: “In the same way that ether is gas for the collective attention of computers, the GEN token is gas for the collective attention of human beings.” With GEN’s listing on Liquid, DAOstack is excited to be taking the next step toward an open, growing ecosystem of decentralized. ABOUT Quoine Quoine is a Financial Technology (Fintech) company headquartered in Japan with offices in Singapore and Vietnam. Founded in 2014, its core product is Liquid, a highly sophisticated cryptocurrency trading platform supporting fiat and dozens of cryptocurrencies. Liquid is one of the largest exchanges in Asia. Quoine is reinventing banking and financial services around one of the most revolutionary technology breakthroughs since the Internet, the Blockchain. Our ultimate mission is to revolutionize banking and financial services and to bring financial services to the un/under-banked. To reach our goal, we are building the ultimate banking and finance platform using exciting cutting-edge technologies. More information is available at www.quoine.com . Learn more about DAOstack - https://daostack.io/ Read the DAOstack Whitepaper - https://daostack.io/wp/DAOstack-White-Paper-en.pdf Join the Telegram - https://t.me/daostackcommunity Follow on Facebook - https://www.facebook.com/daostack/ Follow the Twitter - https://twitter.com/daostack Read on Medium - https://medium.com/daostack Join on Reddit - https://www.reddit.com/r/daostack/ The post DAOstack’s GEN Token Gets Listed on Quoine Cryptocurrency Exchange appeared first on ZyCrypto.

a month ago

Bringing Smart Contracts To The Digital Advertising Industry- SaTT ICO Evaluation

The following is an objective review of the SaTT ICO. The review is based on certain criteria, which we think are important for an ICO project to succeed. We measure a successful ICO by short term and long-term ROI estimation. The following is not financial advice. 1. Background SaTT which stands for “Smart Advertisement Transition Token” is a project that aims to govern online adverting, mediating between advertisers and publishers using smart contracts on top of the Ethereum blockchain. The SaTT solution wants to use the decentralized blockchain capabilities to vastly improve the way the online advertising industry operates today, and automating transactions with smart contracts in a distributed blockchain ledger could reduce costs, speed up transactions, prevent fraud, and enable better and more accurate monitoring of campaigns. The company behind the SaTT innovation is ATAYEN, based in the US, France and Tunisia. ATAYEN, Inc. was founded in 2014 by Gautier Bros and Stephanie Clement, Facebook applications developers. Today, the company’s main business is Iframe-apps offering customizable apps that enhance and add capabilities to Facebook marketing pages. The company states that its apps are installed in over 4 million Facebook pages worldwide. The SaTT token presale successfully ended last April and the crowd sale started on the 1St of May and will go on until March 31, 2019 or until the Hard-Cap is reached. Let’s start with our evaluation! 2. Introduction 2.1 The need The online advertising market is constantly growing and changing rapidly, analysts predict that by 2020 half of all global adverting cost will be spent on online advertising, in the past year alone the digital advertising revenue was 247.87 Billion USD. 2.2 The Problem Advertisers use different ways to monitor the effectiveness of their campaigns. The most common ones are CPC (cost per click) and CPM (cost per thousand impressions) yet none are completely accurate, and all could be fraudulent. Advertisers can misinform publishers diminishing the success of the campaign, publishers can use fake accounts or bots to maximize their monetization, and advertising agencies can use their power to cheat their partners. In this vast global market advertising agencies find themselves in charge of paying commissions to many affiliates around the world, as a result commissions get delayed, fees grow, and time and energy are wasted, furthermore finding the right publisher that is suitable for an advertiser’s need is no easy task. 3. The Solution - SaTT Smart contracts SaTT smart contracts rely on three types of participants: Advertisers, Publishers, and Oracles: 3.1 Advertisers To create a campaign advertisers need to obtain SaTT tokens which they can either purchase on markets or offer products and services in exchange for them. The advertisers input the essential details for the campaign such as the content, the model of remuneration and define the criteria’s for publishers, then they lock their tokens within the smart contract and set an expiry date for the contract, the campaign\contract is then broadcast to the blockchain and activated. After activation it is automatically checked by the Oracle for publisher reward-worthy actions. 3.2 Publishers Publishers can be individual accounts on social media networks, sites or applications, in order to get the opportunity to take part in a campaign and fulfil the target specified in the smart contract, they have to meet certain conditions specified in the smart contract, for instance the requirement might be for individuals that have more than X number of followers on a specific social media platform, or for a media outlet that does not host any illegal streaming content. Profiles of publishers are analyzed and segmented so publishers can receive proposals that suit their profile. Once the Oracle validates that the publisher executed their part in the contract the payment is released to the publisher according to its actions, the publisher is rewarded with SaTT tokens which can be redeemed for cash on exchanges or used to buy products offered by the advertiser. 3.3 Oracles 3.3.1 What are Oracles? Oracles are basically API’s (Application programming interface) that will integrate with the SaTT smart contracts. The interface will integrate with different data sources, for instance Google Analytics, Twitter, Facebook, and get information from their API’s determining whether the actions required in the contract were executed, i.e. number of clicks or page views or a certain amount of likes that were received on a Facebook post. SaTT will enable multiple Oracles to be involved in confirming the same smart contract transaction. 3.3.2 How will Oracles work? Oracles are privileged account addresses within the smart contract, initially Oracles will be developed and validated manually by ATAYEN, Inc. and at a later stage could be developed through the SaTT API by third-party developers who will be rewarded wit

a month ago

PR: DAOstack Announces New $GEN Exchange Listing on Liquid by Quoine

Bitcoin Press Release: Blockchain startup DAOstack has announced the listing of its GEN token on Quoines new Liquid Exchange, starting October 9th, 2018. October 11th, 2018, Gibraltar - The DAOstack collective attention token GEN, will be listed on Liquid, the newly-launched cryptocurrency exchange by Quoine, starting October 9th, 12:00 JST. GEN-ETH, GEN-BTC, and GEN-QASH trading pairs will be available to start, with GEN-fiat trading pairs available in the near future. DAOstack is designed to be a kind of WordPress for decentralized autonomous organizations (DAOs), a new type of Web3-native organization that allows like-minded communities to act on shared goals or values without depending on concentrated power centers. The GEN token will soon link a network of DAOs built for a variety of purposes on the DAOstack platform. DAOs using the GEN prediction network will be able to effectively filter proposals by their predicted chance of passing. This allows DAOs to remain values-aligned and efficient while scaling to potentially any size. GEN lets individuals both inside and outside the DAO lend their expert attention in exchange for a chance to profit and be rewarded for correct predictions. GEN-based prediction is native within Alchemy, DAOstack’s first application for decentralized governance, whose Alpha release is currently live on the Ethereum mainnet. With a full release targeted for 2019, Alchemy will make it simple for DAOs of unlimited size to smartly allocate resources and voting power. A community of predictors is already active and growing, and its increasing size, expertise, and network effect will benefit all DAOs using Alchemy. Since predictors must hold GEN to stake on proposals, they have an additional incentive to help all GEN-connected DAOs achieve their goals. DAOstack’s strategy for GEN includes many of the features that made Ethereum successful. For one, DAOstack is stimulating product and community development by channeling funds from its token sale through the Genesis DAO, the first DAO deployed using the DAOstack platform, created as a proof of concept and an open-source foundation for DAO development. Also, like Ether, GEN has a highly generalizable utility, as Matan Field, DAOstack architect, and CEO, has pointed out: “In the same way that ether is gas for the collective attention of computers, the GEN token is gas for the collective attention of human beings.” With GEN’s listing on Liquid, DAOstack is excited to be taking the next step toward an open, growing ecosystem of decentralized organizations. ABOUT Quoine Quoine is a leading global fintech company that provides trading, exchange, and next-generation financial services powered by blockchain technology. With offices in Japan, Singapore, and Vietnam, Quoine combines a strong network of local partners with extensive team experience in banking and financial products to deliver best in class financial services for its customers. More information is available at www.quoine.com In September 2017, Quoine Corporation became the first global cryptocurrency exchange to be officially licensed by the Japan Financial Services Agency. In September 2018, the two exchanges owned by Quoine, Quoinex, and Qryptos, were merged and relaunched as Liquid. Liquid will be powered by Quoine’s World Book, which provides customers with enhanced price matching and deeper liquidity for various fiat and cryptocurrency pairs. More information can be found at liquid.com Learn more about DAOstack - https://daostack.io/ Read the DAOstack Whitepaper - https://daostack.io/wp/DAOstack-White-Paper-en.pdf Join the Telegram - https://t.me/daostackcommunity Follow on Facebook - https://www.facebook.com/daostack/ Follow the Twitter - https://twitter.com/daostack Read on Medium - https://medium.com/daostack Join on Reddit - https://www.reddit.com/r/daostack/ Media Contact Contact Name: Andrey Sergeenkov Contact Email: admin@btcpeers.com Youtube: https://www.youtube.com/watch?v=25wtmzBG1Yg DAOstack is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all. Token sales are only suitable for individuals with a high-risk tolerance. Only participate in a token event with what you can afford to lose. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest. The Era Swap token sale is closed to US participants and participants of all countries in which ICOs are illegal. Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: The post PR: DAOstack Announces New $GEN Exchange Listing on Liquid by Quoine appeared first on

a month ago

A scientist explains why you should be eating insects to help fight global hunger

Insects could be a game changer in the race to combat food insecurity and achieve zero hunger - the theme of this year’s World Food Day. Eating insects can help fight hunger and food insecurity. They are a fantastic source of nutrients - like protein - and food at times when the production of commonly eaten staple African food crops, like maize, fails due to the changing climate, droughts, or insect pest damage. Eating insects is an ancient practice which is still prevalent today. About two billion people, more than a quarter of the world’s population, eat insects. Most live in Africa, Asia and Latin America. Insects should be tapped into as an excellent tool to fight hunger and malnutrition because they are abundant, healthy, have less of a carbon footprint to produce and can offer a range of business opportunities. Why eat insects Abundant: Insects are abundant in Africa. The continent is home to over 1900 edible insect species - mostly beetles, caterpillars, grasshoppers, wasps and ants. And insects reproduce quickly and have high growth rates. Insects can attain maturity in less than a month. Most insects take three weeks or less to complete their life cycle. At the same time, farming insects doesn’t require much land and water as traditional agriculture does. Insect farming is already happening in Africa. In Kenya, for example, crickets are produced in buckets and crates where female adults lay fertilised eggs under a wet cotton wool. After a month, the eggs hatch into nymphs that feed on vegetables, soy flour and water. It takes three months for crickets to mature into adult stage. In Zimbabwe, Mopane Worm Enterprises grow trees on to which the moth lays its eggs. These then hatch and the larvae feed on the leaves. It’s at this stage that the Mopane worm is harvested. Healthy : Insects can serve as sustainable alternative sources of proteins and other nutrients. Insects are rich in essential amino acids and protein. They are sometimes superior per ounce, to traditional protein sources including beef, chicken, goats and sheep. Nutritional benefits can vary from one insect species to another. For example, the Orthoptera group of insects, that contains grasshoppers, yields the highest protein content. Better for environment: Agriculture and livestock, are major sources of greenhouse gas emissions. Unlike agriculture, insects produce far fewer greenhouse gases: one-tenth the methane and one-three-hundredth of nitrous oxide. Money makers: Insects, provide an opportunity for entrepreneurs to think outside the box. Millions of Africans are already eating them and new businesses could be developed. They can be eaten as they are, or processed - for instance into protein powders to serve as supplements. Several start-up businesses have been launched focusing solely on producing insects for human food and animal feed. These range from countries like Netherlands to South Africa and Kenya. Evidence Insect eating is widespread in Africa. In Cote d’Ivoire, a recent survey reported that over 59% of the surveyed respondents were eating insects. Similarly, in Zimbabwe, a recent survey reported most of the people surveyed had eaten insects. Consumption happens mainly in rural areas, rather than in the cities. In South Africa, insect eating is normal. Topping the list is the Mopane caterpillar - a delicacy that’s eaten in other African countries too, such as Zimbabwe and Namibia. In Kenya, farmers and entrepreneurs are increasingly turning to eating insects to fight hunger. Termites, for instance, are being eaten by small-holder farming families to supplement meals due to failed harvests. Farmers are also rearing insects to sell in local markets. A recent survey in Kenya, showed that over 80% of respondents said they ate insects, with termites, and lake flies topping the list. Others eaten include grasshoppers, locusts, ants and crickets. Rolling it out Tapping into insects to fight hunger, food insecurity and malnutrition doesn’t come without some challenges. As an entomologist - that has maintained insect colonies in the laboratory—I know firsthand about what these are. Managing insects needs careful attention and management. This includes regulating temperature, humidity and observing high hygiene standards, since insects are highly susceptible to microbial and bacterial infections. At the moment there aren’t any laws governing this. New legislation must also be put in place to ensure that entrepreneurs that decide to venture into insect farming maintain proper food and hygiene standards. As challenges, like droughts linked to climate challenge, continue to exacerbate food security challenges, insects provide an opportunity for innovation. Esther Ndumi Ngumbi, Distinguished Post Doctoral Researcher, Department of Entomology, University of Illinois at Urbana-Champaign This article is republished from The Conversation under a Creative Commons license. Read the original article. Sign up to the Quartz Africa Weekly Brief

a month ago


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