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Chevron, Total, Reliance Join Commodities Trade Blockchain Platform

Reuters reports that Chevron, Total and Reliance have joined a growing list of mainstream energy bigshots eyeing blockchain technology to streamline the commodities trading industry. This adds to BP, Royal Dutch Shell, Equinor, Gunvor, Mercuria and Koch Supply & Trading, who are also backers of the same platform called Vakt. Historically, the logistics involved in commodities trading lacked elegance; with tons of paperwork that has to be managed by the individual parties involved in the transactions. However, sights set on the distributed ledger technology by a growing number of stakeholders within the oil and gas sector reveal an opportunity to scale processes involved in the value chain. According to the article, blockchain is described as a technology that provides a “solution to trade and settlement inefficiencies... improve transparency and reduce the risk of fraud”. A report in 2016 reflected on the summit held by the Group of Eight (G8) highly industrialized nations to include Canada, France, Germany, Italy, Japan, Russia, the United Kingdom, and the United States who drew on the conclusion on the necessity to establish transparency in order to fight corruption in the sector at the political, social and economic level. The report further noted that “as noble as the concept may be, when it comes to implementation, the political commitment to transparency seems to fall short of its aspirations”. Blockchain has the ability to cut through the political inefficiencies thereby stem the tide of corruption that impedes transparency in the oil and gas sector - across borders - and reconstitute stakeholder commitment to a wholesome economy. In adopting emerging technologies to address some of the problems plaguing the industry, Total’s head of trading and shipping Thomas Waymel said, “Total has been supporting industry initiatives to digitize cargo post-trade processes for some time... [we] view them as a major step forward towards safer, faster and cheaper logistical operations.” Last month, Abu Dhabi National Oil Company (ADNOC) revealed that it is exploring the use of blockchain in its oil supply chain. Digital Unit Manager Abdul Nasser Al Mughairbi said that it could be “the first application of blockchain in oil and gas production accounting anywhere in the world”. This year may see more industrial scale application of the distributed ledger, especially in areas desperately in need for better data coordination/validation, transparency and “dumping of paperwork” processes among inter-dependent systems across organizations in a value chain. Follow on Twitter: @BitcoinNewsCom Telegram Alerts from Want to advertise or get published on - View our Media Kit PDF here. Image Courtesy: Pixabay The post Chevron, Total, Reliance Join Commodities Trade Blockchain Platform appeared first on

an hour ago

Actualización de Ethereum se retrasa por brecha de seguridad presente en el EIP 1283

La vulnerabilidad permitiría a un atacante extraer fondos de los contratos de forma continua sin que los usuarios se percaten de la irregularidad. Este error es muy similar al que fue aprovechado por hackers para robar fondos a The DAO en 2016.*** (adsbygoogle = window.adsbygoogle || []).push({});La nueva actualización para la red de Ethereum, Constantinopla, fue reprogramada luego que programadores descubriesen una vulnerabilidad importante presente en los cambios a implementarLa empresa de auditoría para contratos inteligentes, ChainSecurity, indicó que la propuesta de mejora para la red de Ethereum (EIP)1283, en caso de implementarse, proporcionaría a los atacantes una brecha de seguridad en el código para robar los fondos de los usuarios.Acuerdo entre los desarrolladoresA razón de lo antes expuesto, tanto los desarrolladores de Ethereum como los de clientes y proyectos activos en la red, acordaron retrasar la actualización por algunas horas, al menos mientras se resuelve el problema señalado.Entre las personas que estuvieron de acuerdo con esta decisión están el programador principal, Vitalik Buterin; los desarrolladores Hudson Jameson, Nick Johnson y Evan Van Ness; el gerente de Parity, Afri Schoedon; entre otros.Al analizar las vulnerabilidades presentes, los desarrolladores centrales del proyecto concluyeron que los cambios llevarían demasiado tiempo para cumplir con la fecha originalmente planteada, la cual estaba fijada para el día 17 de enero a las 4:00 am (UTC).Sobre la brecha de seguridadLa vulnerabilidad reportada por el equipo de ChainSecurity permite a un atacante “reingresar” una misma función varias veces sin que esto implique informar al usuario sobre el estado del proceso en curso.En una entrevista con el equipo de CoinDesk, el CTO de la firma de seguridad Aberdata, Joanes Espanol, indicó que bajo esta premisa, una persona malintencionada podría estar “retirando fondos de forma perpetua”, y agregó:Imagine que mi contrato tiene una función que realiza una llamada a otro contrato... si yo soy un hacker y puedo activar esta función por un lapso adicional mientras dicha función aún estaba en ejecución, entonces podría ser capaz de retirar los fondos sin problemas.Esta vulnerabilidad se parece a la registrada durante el ataque a The DAO en el 2016.En el reporte presentado por ChainSecurity, la agencia explicó que antes de Constantinopla las operaciones de almacenamiento en la red costarían 5.000 GAS, excediendo los 2.300 que normalmente costarían al momento en el que un contrato habilita operaciones para la transferencia o envío de activos.Sin embargo, con la nueva actualización, las operaciones de almacenamiento que puedan estar “corruptas” costarían 200 GAS. De esta forma “el contrato de un atacante puede utilizar los excendetes de los 2.300 GAS para manipular variables dentro del contrato, sustrayendo sin problemas los saldos correspondientes”.Originalmente Constantinopla estaba programada para el año pasado, pero se retrasó a razón de problemas registrados durante su lanzamiento en la red de pruebas Ropsten.Fuente: CoinDeskVersión de Angel Di Matteo / DiarioBitcoinImagen creada con CanvaComparte tu opiniónConstantinopla, contratos inteligentes, Ethereum, hard fork, reprogramaciónAdvertisements (adsbygoogle = window.adsbygoogle || []).push({}); The post Actualización de Ethereum se retrasa por brecha de seguridad presente en el EIP 1283 appeared first on DiarioBitcoin.

an hour ago

Augur (REP) surges 50% as Veil Prediction Platform Launches

Cryptocurrency markets have generally been pretty flat since their latest big dump a week ago today. One or two altcoins are making big moves though and today’s big pump is coming from Augur which has surged 50% over the past 18 hours. Augur is a prediction market protocol built on Ethereum’s blockchain. In an effort to bring the network to the mainstream a new platform called Veil has just been launched on mainnet which is driving massive trading momentum for its REP token today. Veil is LIVE on Mainnet! Start trading now at Or sign up for an account at — Veil (@veil) January 15, 2019 “We foresee a not-so-distant future where millions of people create and trade in millions of markets. And we’re thrilled to finally launch Veil on Mainnet and bring that future just a little closer,” the company blog proclaimed. According to the Veil blog the new peer-to-peer prediction market and derivatives platform has been built on top of Augur, 0x, and Ethereum. The platform is operated by Veil International Ltd, a Cayman Islands company, but it not available to users in the United States, Cuba, Syria, North Korea or any area with restrictive crypto trading laws. Veil makes it easy to buy leveraged positions on three trading pairs, BTC/USD, REP/USD, and ZRX/USD. It also makes predictions on a wide range of scenarios, such as Academy award winners, a lot easier. Users can also trade on Ethereum hedging products which provide options for fundamentals such as the GAS price and current network hashrate. In addition to Veil the new Augur app version 1.9.1 has just been released on Github. As a result REP is flying today and is the top one hundred’s top performer with a gain of almost 50%. According to REP surged from $10.60 to just above $16 where it is currently trading. Daily volume also jumped from $6.8 million to $46.5 million, the majority of REP trade, over 40%, is currently on Upbit in KRW. Binance also has a big chunk of that volume with around 30% of the total. Augur’s performance has been that good even Nasdaq ran a piece on it; “Looking at Augur’s REP price action versus the USD, the REP/USD pair is attempting to break above a very important price level, on the upper band of the daily Ichimoku Cloud.” Over the past week REP has surged an impressive 78% and has been one of the top performing cryptocurrencies. In terms of market cap it has climbed to 33rd place with $175 million. The post Augur (REP) surges 50% as Veil Prediction Platform Launches appeared first on Ethereum World News.

6 hours ago

Ethereum [ETH] Constantinople: 10335 users upgraded their Parity Ethereum nodes, says core developer

The whole cryptocurrency community has been waiting for the Constantinople hard fork since 2017. Recently, the team announced that the update has been postponed for the second time. This is because of a potential attack that can take place after the hard fork occurs. The vulnerability was pointed out by ChainSecurity, an audit platform for smart contracts, as a part of the Ethereum bug bounty program. The team found that the update enables new Reentrancy Attack. The key factor is that the smart contracts are not vulnerable to the attack before the hard fork but only after the attack. This was because of one of the Ethereum Improvement Protocols‘, which proposes Net gas metering for SStore without dirty maps. Soon after the news broke, the Parity team and the Geth team released a new emergency version and asked all the node operators to updated to the new version immediately. The emergency version released by the Parity team is Parity Ethereum 2.2.7 - stable and Parity Ethereum 2.3.0 - beta. The emergency version released by Geth team is Byzantium Revert v1.8.21. This update, according to the initial announcement by Ethereum Foundation, is required to be done by miner, exchanges and node operator. They also stated that people only interacting with the Ethereum need not do anything including Ledger, Trezor, MyEtherWallet, MyCrypto, and Parity Signer. Afri Schoedon said on Twitter: “There are 3783 Ethereum nodes visible to the devp2p scraper, 70.53% already cancelled Constantinople. - Geth 1680/2553 (65.80%) - Parity 988/1230 (80.33%)” He further added: “In the last 12 hours, 10335 users upgraded their Parity Ethereum nodes to 2.2.7 stable (76%) or 2.3.0 beta (24%). Most of them use GNU/Linux (95%), some Windows (4%), and a few MacOS (1%). Andreas M Anthonopolous, a Bitcoin proponent and author of Mastering Bitcoin, also commented on the interesting turn of events. He said: “Ethereum Constantinople hard fork postponed because of security issue - all node operators need to upgrade node software TODAY to prevent being forked out of consensus” Peter Szilagyi, another core developer of Ethereum said earlier today: “I’m actually quite pleasantly surprised how smoothly this emergency action went down. Was really nice to see so many stepping up to help with whatever they could! Congrats #Ethereum community!” The post Ethereum [ETH] Constantinople: 10335 users upgraded their Parity Ethereum nodes, says core developer appeared first on AMBCrypto.

12 hours ago

Major Oil and Gas Companies Join New Blockchain Oil Trading Platform VAKT

On January 16, London-based blockchain oil trading platform VAKT announced that oil and gas giants Chevron, Total and Reliance have joined its new blockchain-powered commodity trade platform. VAKT Puts Oil onto the Blockchain VAKT’s mission is “to digitize the global commodities trading industry, creating a secure, trusted ecosystem, powered by blockchain,” according to its website. In a company...

12 hours ago

Ops! Atualização da plataforma Ethereum é adiada após falha de segurança ser descoberta

Por: Livecoins Em um comunicado oficial no blog da Ethereum, desenvolvedores da plataforma disseram que decidiram adiar o hard fork após pesquisadores de segurança identificarem uma potencial vulnerabilidade em uma das atualizações. A ChainSecurity, uma empresa de auditoria, revelou que a integração da Proposta de Melhoria da Ethereum 1283 (EIP 1283) permitiria que invasores roubassem fundos dos usuários. Em uma chamada de emergência, na qual participaram Vitalik Buterin, Hudson Jameson, Afri Schoedon e outros, os desenvolvedores confirmaram que a atualização do hard fork deve ser adiada, conforme o problema é avaliado. O Comunicado diz: O Ethereum Core Developers e a Ethereum Security Community foram informados sobre os possíveis problemas relacionados a atualização Constantinople identificados pela ChainSecurity em 15 de janeiro de 2019. Estamos investigando possíveis vulnerabilidades e seguiremos com atualizações nesta postagem do blog e em canais de mídia social. Os principais interessados da comunidade Ethereum determinaram que a melhor ação será adiar a atualização planejada no bloco 7.080.000 em 16 de janeiro de 2019. Isso exigirá que qualquer um que execute um nó (operadores de nó, exchanges, mineradores, carteiras, etc ...) atualize para uma nova versão do Geth ou Parity antes do bloco 7.080.000 que ocorrerá em aproximadamente 32 horas a partir da publicação deste post. O artigo da ChainSecurity vai a fundo na potencial vulnerabilidade e em como os contratos inteligentes podem ser verificados quanto à vulnerabilidade. Em resumo: - A EIP-1283 introduz um custo de gas mais barato para operações SSTORE - Alguns contratos inteligentes (que já estão na blockchain) podem utilizar padrões de código que os tornariam vulneráveis ​​a um ataque de reentrada após a atualização Constantinopla. - Estes contratos inteligentes não são vulneráveis ​​antes do upgrade. Contratos que aumentam a probabilidade de serem vulneráveis ​​são contratos que utilizam uma função transfer () ou send () seguida por uma operação de mudança de estado. Um exemplo de tal contrato seria aquele em que duas partes recebem fundos em conjunto, decidem como dividir os fundos e iniciam o pagamento desses fundos. O chamado “ataque de reentrada” permite que um ator malicioso “re-insira” uma função na blockchain várias vezes: “Imagine que meu contrato tem uma função que faz uma chamada para outro contrato... Se eu sou um hacker, e serei capaz de acionar uma função enquanto a função anterior ainda estava em execução, eu poderia ser capaz de retirar fundos dos usuários.” Explicou a CoinDesk. Mesmo com o atraso, é de conhecimento geral que a atualização trará benefícios de longo prazo para a rede blockchain da plataforma Ethereum. Considerando a economia simples da oferta e demanda, a plataforma pode ter uma alta devido à redução da emissão de tokens com a atualização Constantinople, que vai reduzir a recompensa por blocos de 3 para 2 ETH. 1/ #Ethereum‘s Constantinople fork is coming on block 7080000, around January 16, 2019. Constantinople will reduce the block rewards from 3 to 2, decreasing new $ETH supply accordingly. On the long run, this is decidedly bullish. — Alex Krüger (@Crypto_Macro) December 24, 2018 A atualização Constantinopla também vai tornar a mineração de Ethereum mais barata, isso é positivo para o ecossistema Ethereum, já que muitos especialistas procuram a lucratividade nas empresas de mineração. Preço Ethereum cai Esta notícia não foi boa para a Ethereum, que viu seu preço em cair miseravelmente. No momento da redação deste artigo (22:00h), cada ETH estava sendo negociado a US $ 119 cada, registrando uma perda de 6% nas últimas 24 horas, de acordo com dados do Livecoins. Preço Ethereum em queda. Imagem: Livecoins A situação já não estava boa para a plataforma Ethereum. Agora ficou um pouquinho pior, mas, ainda bem que a atualização não subiu em produção com esta falha, poderia ser o fim da plataforma de contratos inteligentes mais famosa o mundo. E, que pena também que a falha foi divulgada tão em cima da hora, parece uma conspiração. São muitas emoções. Nada de novidade para o mercado de criptomoedas. Informações da Coindesk, CCN, E EWN O artigo Ops! Atualização da plataforma Ethereum é adiada após falha de segurança ser descoberta apareceu primeiro em Livecoins.

13 hours ago

A Constantinople postponement postmortem

What happened? Just one day before Ethereum’s Constantinople network upgrade was set to take place, ChainSecurity, a smart contract auditing service, disclosed an unintended consequence related to EIP-1283’s introduction of cheaper gas costs for SSTORE operations, which could open up existing contracts to reentrancy attacks. While actually successfully exploiting the vulnerability is considered highly implausible, and ChainSecurity was unable to find any existing contracts that would be at risk, core developers, client developers, and additional community stakeholders nevertheless decided that the upgrade should be postponed pending further testing and consideration. That this vulnerability was not picked up during the testing phase speaks to the complexity of Ethereum’s protocol: as Vitalik Buterin commented, “if you have N protocol features, there are N^2 ways they could potentially personal takeaway from this is to be much more explicit about writing down invariants (properties guaranteed by the protocol) that we rely on so we can check against them when changing things.” EthereumConstantinople: who, what, where, how?Read moreCall to action: Any nodes that already updated their clients to the Constantinople version need to either upgrade to the patched version — for Geth 1.8.21, for Parity 2.2.7 — or downgrade to the pre-Constantinople version. Figures from Ethernodes suggest that 80.1% of clients are updated to the correct state. Any nodes that fail to update their clients will be unable to sync and take part in the consensus process on the ‘legitimate’ Ethereum chain. No action is required from smart contract owners and users or token holders that do not run nodes. What’s next? Core Devs will reconvene on Friday to discuss how to proceed and set a block time for reintroducing the Constantinople upgrade. It is expected that EIP-1283 will be omitted from the fork, although alternative proposals include adding a condition to SSTORE that causes it to revert should less than 2,300 gas remain. Preliminary discussion in the AllCoreDevs Gitter indicated that the delay may be on the order of several weeks: the earliest possible date would likely be Monday January 21 as an upgrade is unlikely to be pushed over a weekend. Meanwhile, Ethereum’s ‘difficulty bomb’, which increases mining difficulty exponentially, slowing down block times, and by extension, the issuance of block rewards, has already activated. However, at present, the difficulty increase is relatively negligible, with blocks continuing to be mined roughly every 15 seconds. In addition, the brief postponement of issuance reduction from 3 ETH to 2 ETH per block is unlikely to have any material effect on total outstanding supply. Ethereum Average Block Time Ethereum Supply Growth Source: Etherscan What does this mean for future upgrades? The introduction, and swift elimination, of EIP-1283, has sparked a more general discussion regarding how to proceed with upgrades to EVM semantics that are not compatible with pre-existing smart contracts. This is especially relevant in the context of Ethereum 2.0’s plan to introduce storage rent, where every account would have to pay some small amount of ETH per block for every byte of storage it takes up. The debate is rather philosophical in nature, focusing on the meaning of ‘immutability’ and the responsibility of core devs towards smart contract developers. On the one hand smart contract developers want assurances that their code will be immutable, as promised at Ethereum’s inception, and argue that changing the way code is interpreted through upgrades to operation codes stands to violate the sanctity of immutability. On the other hand, core developers want freedom to continue improving the protocol — after all, EIP-1283 was designed to reduce complexity of contract storage — and although they will not intentionally introduce behaviour that could break an invariant, they cannot wholly guarantee that changes will not introduce second order effects. While we can expect the immediate course of action for EIP-1283 to be revealed on Friday’s call, this wider meta-discussion around the extent and precise definition of Ethereum’s immutability will likely proceed through the coming years as Ethereum 2.0 continues to take shape. The post A Constantinople postponement postmortem appeared first on The Block.

13 hours ago

Ethereum Price Analysis: ETH Calm A Day After Constantinople Delay

Ethereum price steady Constantinople fails to take off, vulnerabilities discovered Trading volumes low, ETH/USD may consolidation Even though Constantinople is what Ethereum needs, this is the second time the upgrade has been put off. Luckily, ETH prices are steady against the USD. Before we recommend longs, ETH must first rally above Dec 2018 highs of $170 Ethereum Price Analysis Fundamentals It is official, Constantinople is off. However, how the Ethereum Foundation and other developers failed to spot a weakness allowing Chain Security, to successfully split open the underlying code and expose potentially catastrophic errors begs more questions than answers. A level deeper and did it take Smart Security five hours to run analysis and publish their findings? “Out of an abundance of caution, key stakeholders around the Ethereum community have determined that the best course of action will be to delay the planned Constantinople fork that would have occurred at block 7,080,000 on January 16, 2019.” The security vulnerability circles around EIP 1283, a “Net gas metering for SSTORE without dirty maps” proposal that according to an official Ethereum explanation will “makes it cheaper to do certain things on chain, especially things that are currently “excessively” expensive.” Could it have been activated, the network would have been susceptible to a Re-entrance attack. Candlestick Arrangement Meanwhile, ETH is down 3.5 percent and 17.8 percent in the last week but still, candlestick formation hints of underlying demand. Because Constantinople didn’t take off, there is a renewed conviction across the market that the no-hurry approach adopted might be the right course of action. All the same, our ETH projection is bullish. But until after ETH prices race above $170, conservative traders should be on the sidelines. Note that gains above $170 nullify the bear breakout pattern set in motion by Nov 19 bears. However, in the meantime, aggressive traders can take long positions at spot prices with stops at Jan 14 lows. After all, Fibonacci retracement rules are supportive of bulls. Note that there is a double bar bull reversal pattern bouncing off the 61.8 percent Fibonacci level of Dec 2018 high low. On the other hand, losses below $120 could trigger a spiral that may see ETH crash towards $70. Technical Indicators Volumes are drying up. Although volumes indicate demand or supply and waning, our bullish stance directs that for buyers to be in control, then there must be impressive rally thrusting prices above Jan 10 highs. Then again, this rally should be supported by high trade volumes exceeding 684k of Jan 10. It can even surpass those behind the ecstatic sell-off of Nov 20—1.5 million. Otherwise, ETH consolidation may continue. The post Ethereum Price Analysis: ETH Calm A Day After Constantinople Delay appeared first on NewsBTC.

13 hours ago

What Caused Ethereum to Delay Their Much-Awaited Hard Fork?

Ethereum Core developers announced on Tuesday that they would postpone their much-awaited Constantinople hard fork. The team, which has previously settled January 16 as the official date for the Ethereum blockchain upgrade, decided to delay it after ChainSecurity found potential vulnerabilities in the code. The Switzerland-based blockchain audit firm said that Constantinople would enable “reentrancy attack,” whereby a pair of hackers can use the code to simulate a secure treasury sharing service. [SECURITY ALERT] #Constantinople upgrade is temporarily postponed out of caution following a consensus decision by #Ethereum developers, security professionals and other community members. More information and instructions are below. — Ethereum (@ethereum) January 15, 2019 Cheaper Gas Cost Could Cause Security Issues In retrospect, a reentrancy attack takes place when a smart contract communicates with an external Smart Contract by calling it. If the foreign entity turns out to be malicious, it may take advantage of the call function and take control of the first smart contract. The vulnerability could allow the external Smart Contract to make unexpected modifications in the host’s code. For instance, such an attacker may repeatedly withdraw Ether funds by “re-entering” at a particular line in the Code. In the case of Constantinople, ChainSecurity blamed cheaper gas costs for fueling the possibilities of a reentrancy attack. According to the firm, two parties can jointly receive funds, decide on how to split them, and receive a payout if they agree by merely exploiting the “PaymentSharer contract” mentioned in the hard fork code. “Before Constantinople, every storage operation would cost at least 5000 gas,” wrote Constantinople. “This far exceeded the gas stipend of 2300 sent along when calling a contract using ‘transfer’ or ‘send.'” We are thankful to our tireless community that tests to ensure security is airtight before any release. After careful consideration, #Ethereum's #Constantinople upgrade will be postponed due to a vulnerability discovered by @chain_security.#Thirdening — ConsenSys (@ConsenSys) January 15, 2019 The firm added that changing dirty storage slots after Constantinople would cost only 200 gas. An attacker could manipulate the victim contract code to be transformed into a dirty one: with support from a public function that changes the required variable. “Afterward, by causing the vulnerable contract to call the attacker contract e.g.with themsg.sender.transfer(...) attacker contract can use the 2300 gas stipend to manipulate the vulnerable contract’s variable successfully,” speculated ChainSecurity. No Vulnerable Contracts So Far ChainSecurity did a chain-wide audit of Ethereum and found that the reentrancy bug didn’t impact any smart contract yet. The Core also added that their decision to postpone the hard fork was reached following a detailed discussion with security researchers, Ethereum stakeholders, developers, node operators and other similarly essential parties of the community. Vitalik Buterin, the co-founder of Ethereum, stressed that a little security vulnerability does not necessarily mean that the underlying code is flawed. “If you have N protocol features, there are N2 ways they could potentially break,” he wrote on Reddit. “I would say [that] my personal takeaway from this is to be much more explicit about writing down invariants (properties guaranteed by the protocol) that we rely on so we can check against them when changing things.”, an open-source blockchain interface, also backed Buterin’s opinion. For example...- A developer wrote, audited, tested and deployed a smart contract in the past- It is not possible to exploit the smart contract- The Constantinople update goes live- It is now possible to exploit the smart contract, due to the changes made in EIP1283 — (@MyCrypto) January 15, 2019 “The implementation of EIP1283 was sound,” the company wrote in one of its tweets. “The code is fine. The idea behind it is fine. There is not a “bug” in the code of this EIP. It does what is intended. The potential vulnerability lies at the contract level—not the EVM/opcode/EIP level.” The post What Caused Ethereum to Delay Their Much-Awaited Hard Fork? appeared first on NewsBTC.

13 hours ago

Ethereum’s Constantinople Hard Fork Gets Delayed Due to Critical Bug

CoinSpeaker Ethereum’s Constantinople Hard Fork Gets Delayed Due to Critical Bug It looks like Ethereum supporters and enthusiasts will have to wait some more time for the arrival of the much-awaited Constantinople hard fork. Citing the critical security vulnerability during the software upgrade by smart contract auditing firm ChainSecurity, the core developer team decided to postpone the launch. [SECURITY ALERT] #Constantinople upgrade is temporarily postponed out of caution following a consensus decision by #Ethereum developers, security professionals and other community members. More information and instructions are below. — Ethereum (@ethereum) January 15, 2019 The official announcement on the Ethereum blog reads: “Security researchers like ChainSecurity and TrailOfBits ran (and are still running) analysis across the entire blockchain. They did not find any cases of this vulnerability in the wild. However, there is still a non-zero risk that some contracts could be affected.” It further adds: “Because the risk is non-zero and the amount of time required to determine the risk with confidence is longer the amount of time available before the planned Constantinople upgrade, a decision was reached to postpone the fork out of an abundance of caution.” Vulnerability Detected In Ethereum Improvement Proposal (EIP) 1283 ChainSecurity noted that if the Ethereum Improvement Proposal (EIP) 1283 is implemented, it would create a loophole for attackers to exploit the software code and steal users’ funds. Referring to it as the reentrancy attack, the vulnerability will allow attackers to “reenter” the same function multiple times without updating the user about the situation. this would allow the attackers to continuously withdraw the funds. In its Medium blog post, ChianSecurity explained: “The upcoming Constantinople Upgrade for the ethereum network introduces cheaper gas cost for certain SSTORE operations. As an unwanted side effect, this enables reentrancy attacks when using address.transfer(...) or address.send(...) in Solidity smart contracts. Previously these functions were considered reentrancy-safe, which they aren’t any longer”. The post further explains that before the Constantinople hard fork, storage operations on the network would cost 5000 gas. This would considerably exceed the normally used 2300 gas while calling a contract through the “transfer” or “send” functions. But if the upgrade was implemented, “dirty” storage operations would have cost an additional 200 gas. ChainSecurity notes that an “attacker contract can use the 2300 gas stipend to manipulate the vulnerable contract’s variable successfully.” This vulnerability is quite similar to the one found in the DAO attack in 2016. Node Operators Should Upgrade to Emergency Software Clients Now that the Constantinople hard fork is delayed further, node operators and miners are requested to upgrade to the emergency versions of the Ethereum software clients or else need to downgrade to the earlier pre-fork release. Failing to do so will cause you to become completely disconnected from the main network as the fork software is not compatible with the previous versions. For Ethereum users who don’t run full nodes, need to take no action at the moment. Their wallets are secure in the current state. Currently, the developers have postponed the hard fork for an unspecified time. However, the Ethereum developers are likely to announce the date during the next conference meeting on Friday. Following the delay in Constantinople, popular Ethereum clients like Go-Ethereum (Geth) and Parity have released the software updates. In the Ethereum Core developers chat platform, Kirill Pimenov - head of security at Parity Technologies - advised the upgrade to its new beta release 2.3.0 instead of downgrading the software. He wrote: “I want to restate — downgrading Parity to pre-Constantinople versions is a bad idea, we don’t recommend that to anyone. Theoretically it should even work, but we don’t want to deal with that mess.” Ethereum Price Drops The announcement of delaying the Constantinople hard fork resulted in the Ethereum price drop. Ethereum (ETH) dropped by nearly 5% on Tuesday and is currently trading at $124 with a market cap just below $13 billion. However, in the anticipation of Constantinople launch, already 19 crypto exchanges worldwide have pledged their support to the hard fork. Ethereum’s Constantinople Hard Fork Gets Delayed Due to Critical Bug

13 hours ago

More Companies Join Blockchain-Based Commodity Trading Platform Vakt

Chevron, one of largest American multinational energy corporations, Total, a leading French multinational integrated oil and gas company, and major Indian refiner Reliance Industries have become members of the Vakt Platform. Backed by JPMorgan’s Quorum blockchain technology, Vakt is a UK-based blockchain platform for energy commodity trading. Other major members include BP, Equinor, Shell, as well as Gunvor and Mercuria. Meanwhile, Shell is also developing a similar blockchain commodities trading platform backed by multiple major banks. (VS)

a day ago

Ethereum: ETH Price Plunges as Constantinople Fork is Delayed Due to Security Flaw

Over the past several weeks, Ethereum has seen consistent price gains that can be largely attributed to investors anticipating its Constantinople hard fork. This fork was widely viewed as being bullish due to it reducing the future supply of ETH by 33%. Now, Ethereum’s price is plunging due to Constantinople being delayed as a result of a security vulnerability that, if it were to be implemented, could result in a loophole that provides attackers with the ability to exploit the code and steal user’s funds. Ethereum Constantinople Hard Fork Delayed Earlier today, news broke that smart contract security audit firm, ChainSecurity, noticed a flaw within one of the proposed improvement upgrades included in the hard fork, which could allow funds to be easily stolen by nefarious actors. In a conference call, Ethereum’s lead developers discussed the flaw, noting that the hard fork will be delayed for an unforeseeable amount of time while they fix the issue. The new date for when Constantinople will be implemented will be released in another conference call this Friday. ChainSecurity discussed the fork’s vulnerability in a recent Medium post, calling it a reentrancy attack that allows bad actors to reenter the same function multiple times without the network updating to account for the actions they took, essentially allowing them to continuously withdraw funds. “The upcoming Constantinople Upgrade for the ethereum network introduces cheaper gas cost for certain SSTORE operations. As an unwanted side effect, this enables reentrancy attacks when using address.transfer(...) or address.send(...) in Solidity smart contracts. Previously these functions were considered reentrancy-safe, which they aren’t any longer,” ChainSecurity explained. ETH Price Drops on News of Delay Ethereum’s price plunged on news of the Constantinople delay, and it is trading down 6% at its current price of $121. ETH is presently trading just above its weekly low of $116, which was set this past weekend when the overall crypto markets dipped. Ethereum has seen a relatively consistent price rise since it set its 2018 lows of $80 in mid-December, rising to highs of nearly $160 before dropping to its current price levels. It is unclear as to how much of this price rise is the result of expectations regarding Constantinople, as the entire crypto market has posted a decent recovery from its mid-December lows. Although ETH dropped on the news of the delay, The Crypto Dog, a popular cryptocurrency analyst on Twitter, said that he is buying the relatively minor price dip, which he sees as being the result of an “emotional reaction.” “Reasonings for buying this: It was at support, easy invalidation if I’m wrong... ETH is leading, dumping due to Constantinople delay - this is an emotional reaction that may be quite shortlived [sic],” he explained. How Ethereum’s price responds to the fresh news regarding the delay in the coming hours and days will gage how important traders see Constantinople being for ETH’s price. Featured image from Shutterstock. The post Ethereum: ETH Price Plunges as Constantinople Fork is Delayed Due to Security Flaw appeared first on NewsBTC.

2 days ago

Conozca los cambios que trae Constantinopla para la red de Ethereum

La actualización está programada para el próximo 16 de enero. Aquí presentamos una revisión de las actualizaciones contempladas para el Blockchain de Ethereum y una lista de los exchanges que han manifestado su respaldo a esta nueva versión.*** (adsbygoogle = window.adsbygoogle || []).push({});Uno de los eventos más esperados por la comunidad de desarrolladores y usuarios de Ethereum es la actualización conocida como “Constantinopla”, la cual contempla una serie de propiedades e implementaciones que van a mejorar el rendimiento de la red, y preparan el camino para el paso de Proof-of-Work (PoW) a Proof-of-Stake (PoS).De acuerdo con información reseñada en el Blog Oficial de Ethereum, la nueva actualización está programada para el día miércoels 16 de enero, tras la ejecución del bloque 7.080.000 en la red.Este nuevo Hard Fork tiene como objetivo implementar 5 mejoras importantes (EIP) al Blockchain de Ethereum, las cuales describimos a continuación:1. EIP 145 - Procesamiento de información bit a bitEsta mejora implementa un sistema de procesamiento de información de bit a bit de forma nativa, el cual resulta mucho más eficiente y disminuye los costos de operaciones, equiparando la cantidad de GAS (coste que tiene realizar una operación en la red Ethereum) con las operaciones aritméticas asociadas.El EIP 145 agrega funcionalidad nativa al protocolo haciéndolo más económico y más eficiente para ejecutar ciertas funciones dentro de la red Blockchain.2. EIP 1014 - Skinny CREATE2Esta actualización agrega un nuevo código que mejora la escalabilidad para transacciones fuera de la red.Esto permite que se den interacciones con direcciones que aún no existen dentro de la red, pero en las cuales se puede confiar. La actualización es especialmente importante para los casos de uso en los que se dan contactos contrafactuales que implican el uso de contratos.3. EIP 1052 - EXTCODEHASHEl EIP 1052 implica la optimización de ejecuciones de código a gran escala para contratos inteligentes, devolviendo el HASH keccack256 del código de un contrato.Dado que la mayoría de los contratos deben realizar comprobaciones en el código de bytes de un contrato, aunque no necesiten dicho código en sí, esta actualización resulta muy útil ya que especifica un nuevo código de operación que hace el proceso mucho más económico y otorga mayor funcionalidad a la red.4. EIP 1234 - Ajustes de recompensas y retrasos para la bomba de dificultadOriginalmente el Blockchain de Ethereum tiene configurada una bomba de dificultad que paralizaría las operaciones de la red, para alentar a los programadores principales a trabajar activamente sobre las próximas actualizaciones a implementar.El EIP 1234 propone un reajuste de los tiempos pautados en la programación de la bomba de dificultad, posponiéndola por 12 meses dando así un lapso de tiempo prudencial para ajustar los detalles necesarios. Esto implica también un ajuste en las recompensas de los bloques minados, reduciendo los márgenes de ganancia originalmente manejados.5. EIP 1283 - Reducción del costo excesivo de GASSumado a las implementaciones antes expuestas que reducen el consumo de GAS, esta actualización hace que los costos de las operaciones se mantengan bajos aún cuando aún cuando dichas acciones no vayan de la mano con los cambios que tendrán lugar en la red.Esto también permite nuevos usos para el almacenamiento por contratos, haciendo que se requiera menos GAS para realizar ciertas operaciones en la red, en especial aquellas que resultan muy costosas para los programadores y usuarios.Respaldo por parte de los exchangesA diferencia de lo ocurrido durante el Hard Fork de la red de Bitcoin Cash en noviembre del año pasado, los cambios programados para la red de Ethereum cuentan con el respaldo de la mayoría de los programadores y usuarios de la moneda digital, por lo que se espera que este proceso se realice sin inconvenientes que afecten negativamente al ecosistema.Dos días antes de la actualización, más de 15 exchanges internacionales han manifestado su apoyo a favor de Constantinopla, informando a sus usuarios sobre las medidas a tomar para evitar inconvenientes con los saldos de los usuarios. Entre las plataformas de intercambio figuran OKEx, Huobi,, Bittrex, Binance, OKCoin, IDAX, Koinex, BitMart, Cryptopia, BiBox, HotBit, EtherFlyer, BitForex, WazirX, Exodus Wallet, Catex, Indodax, TOK, y ABCC.En Latinoamérica, dentro del grupo de exchanges que anunciaron su respaldo a la nueva versión de Ethereum están Orionx,, CryptoMKT, Bitso, entre otros.Artículo de Angel Di Matteo / DiarioBitcoinImagen de PexelsDiscutebitso, blockchain,, Constantinopla, CryptoMKT, Ethereum, exchanges, OrionxAdvertisements (adsbygoogle = window.adsbygoogle || []).push({}); The post Conozca los cambios que trae Constantinopla para la red de Ethereum appeared first on DiarioBitcoin.

2 days ago

Economista Vladislav Ginko: “Gobierno ruso planea invertir parte de sus reservas en Bitcoin”

Estas acciones buscan disminuir la dependencia de la nación con respecto al dólar estadounidense por concepto de las actividades comerciales. La medida impactará favorablemente sobre los precios de la criptomoneda, según algunos analistas. *** (adsbygoogle = window.adsbygoogle || []).push({});De acuerdo con un reputado economista ruso, las autoridades del país preparan una inversión sustanciosa en la principal moneda digital con la intención de reemplazar al dólar estadounidense como moneda de reserva, y de esta manera sortear las sanciones impuestas por el gobierno de EE UU.Vladislav Ginko, economista de la Russian Presidential Academy of National Economy and Public Administration, aseguró que el gobierno del país busca minimizar el impacto de las sanciones estadounidenses que afectan su economía y aprovechará al máximo las propiedades que traen consigo las operaciones con monedas digitales.Ginko asegura que una eventual desdolarización de Rusia es fundamental para “proteger los intereses de la nación”. Con esto evita la posible interrupción de pagos al comerciar con petróleo y gas exportado, así como muchos otros compromisos comerciales.Interés en las criptomonedasLas monedas digitales hoy día son tema de interés para el gobierno de la nación. De hecho, una de las primeras figuras en expresar su interés sobre estos activos fue el presidente Vladimir Putin. Entre sus cálculos, Ginko asegura que Bitcoin y la industria de las criptomonedas representan un 8% del PIB de Rusia, y que los representantes gubernamentales comenzarán a respaldar las reservas del país con saldos BTC a partir del mes que viene.Al respecto, Ginko comentó:El gobierno ruso está a punto de dar un paso importante ya que comenzará a diversificar las reservas financieras en Bitcoin. Las sanciones de EE UU obligan a Rusia a deshacerse de los Bonos del Tesoro de los Estados Unidos y a recuperar los dólares originalmente invertidos.Y agregó:Las sanciones y la voluntad vista para adoptar las nuevas tecnologías financieras finalmente llevan a Rusia a invertir sus reservas en Bitcoin.Aunque el Banco Central de Rusia no ha informado estos planes de forma oficial, indicó en un comunicado que próximamente “publicará información sobre la gestión de activos extranjeros”. El país dio pasos en esta materia ya que aumentó sus reservas en euros, yen japonés y en reminbi chinos.Buen momento para invertir, según algunos expertosMati Greenspan, analista de mercados en la plataforma eToro, indicó que el gobierno ruso tiene claros intereses en manejar parte de sus reservas en saldos Bitcoin, ya que la caída vista en los mercados con respecto a finales de 2017 hacen de este un muy buen momento para hacer este tipo de inversión.Greenspan también aseguró que estos planes podrían llevar a Rusia a comprar casi una sexta parte de todos los Bitcoin que existen a la fecha, y además la inversión podría impactar positivamente los precios de la moneda digital.Creación de un Utility TokenSin embargo el proceso puede no ser tan sencillo, ya que el gobierno ruso no puede simplemente abrir una cuenta en un exchange extranjero para comprar criptomonedas, por lo que los planes de inversión podrían involucrar la creación o uso de una moneda digital intermedia, la cual posteriormente sería intercambiada por saldos Bitcoin.Esta nueva criptomoneda tendría que ser administrada por un corredor de bolsa como Sberbank, ya que un banco estatal tiene la potestad para emitir lo que hoy día se conoce como un Utility Token.Al respecto, Greenspan comentó:La propuesta que, según entiendo, ya se encuentra en el escritorio del ministro de Finanzas de la nación, consiste en crear algún tipo de criptomoneda que luego pueda ser intercambiada por Bitcoin.El analista de eToro también citó el encuentro entre Vladimir Putin y Vitalik Buterin en 2017, en el cual discutieron sobre las posibilidades en el sector y las propiedades que aportan la tecnología Blockchain y las criptomonedas a la nación.Sobre este aspecto, Greenspan afirmó:Sabemos que Vladimir Putin es un gran defensor de la tecnología Blockchain... Obviamente no está contento con las sanciones impuestas sobre Rusia y ha dicho que este tipo de medidas llevarán a la desdolarización del país. Esta es más o menos la dirección que está tomando el gobierno ruso.Fuente:ón de Angel Di Matteo / DiarioBitcoinImagen de Vladimir Putin de WikipediaAlgo que decir?bitcoin, criptomonedas, desdolarización, dolar estadounidense, EE.UU, reservas, Rusia, Vladimir Putin, Vladislav GinkoAdvertisements (adsbygoogle = window.adsbygoogle || []).push({}); The post Economista Vladislav Ginko: “Gobierno ruso planea invertir parte de sus reservas en Bitcoin” appeared first on DiarioBitcoin.

2 days ago

Constantinople: who, what, where, how?

Ethereum’s latest network upgrade, Constantinople, will take place at block number 7,080,000, which is predicted to occur on Wednesday, January 16. The countdown to Constantinople can be tracked on Ethereum explorer, AmberData. Details Constantinople contains five distinct upgrades, four of which are designed to optimize performance: EIP-1234: Constantinople Difficulty Bomb Delay and Block Reward Adjustment Delays the difficulty bomb for approximately 12 months and decreases block, uncle, and nephew rewards by 33%. EIP-145: Bitwise shifting instructions in EVM Adds native bitwise shifting that reduces cost and improves efficiency of information processing by 10x. At present shift operations can be implemented via arithmetic operators but only at exorbitant cost. EIP-1014: Skinny CREATE2 Allows developers to interact with addresses that have yet to be created, opening up possibilities for frictionless onboarding of dApp users and paving the way for state channels. EIP-1052: EXTCODEHASH opcode Introduces a new opcode, which returns a hash of a contract’s code, facilitating contract code verification for whitelisting purposes. EIP-1283: Net gas metering for SSTORE without dirty maps Increases gas efficiency and reduces complexity of contract storage. EIP-1234: Of the five upgrades, EIP-1234 has sparked the most discussion. Nevertheless, there is a sense of overwhelming consensus among the Ethereum community that it should proceed as designed and thus is highly unlikely to induce the type of chain split that led to the creation of Ethereum Classic. The ‘Ice Age’ feature, which makes discovery of satisfactory hashes increasing difficult, was designed to incentivize miners to switch to Ethereum’s Proof of Stake chain once development is finalized. Due to delays in Proof of Stake research, core developers have decided to delay the ‘Ice Age’, thereby allowing blocks to maintain their 10-15 second production time. EIP-1234 also contains a 33% reduction in issuance, informally referred to as ‘The Thirdening’, moving ether’s inflation rate more in line with that of bitcoin. In theory this adjustment to the inflation rate should see proportional appreciation in the price of ether as natural sell pressure from miners falls, although whether this has already been priced in and will actually result in a net gain or loss for miner revenue remains to be seen. Source: (Note: Issuance rate in Serenity phases is yet to be finalized) Source: Kiran Vaidya Either way, miners are essentially left without a choice as the upcoming difficulty adjustment on the pre-Constantinople chain will render the network unusable in the coming weeks and months and exchanges are unlikely to create markets for pre-Constantinople ether. Miners could coordinate to delay the difficulty adjustment on the pre-Constantinople chain while maintaining the current issuance rate, but they would likely struggle to attract wider developer support, ultimately rendering their chain worthless. Logistics As Constantinople is a hard fork, Ethereum node operators must update their clients to the latest version. For geth and Parity, these are v1.8.20 and v2.1.11/2.2.5, respectively. Any node that fails to upgrade will sync to the pre-fork blockchain and will be unable to send ether or operate on the post-upgrade Ethereum network. At the time of writing, 15.5% of clients have upgraded. While ostensibly low, the adoption is actually relatively high for a pre-fork state, with remaining node operators expected to follow suit if the fork passes smoothly. The main concern is that miners adopt the upgrade as they are responsible for securing and determining the canonical chain. Fortunately, owners of ether that do not run full nodes can sit tight and rest easy as there is no action required to claim their holdings on the new chain. UPDATE - As noted by Parity Tech’s Afri Schoedon, the client upgrade figures are higher than currently reported by Ethernodes’ ForkWatch page. Ethernodes parses everything that speaks devp2p, which includes nodes running non-Ethereum chains. The preview of Ethernodes’ new API indicates that roughly 44% of Geth and Parity nodes have updated their clients. The post Constantinople: who, what, where, how? appeared first on The Block.

2 days ago

Ethereum valoriza em meio a atualização de rede

Por: Livecoins Uma empolgação em torno do hard fork da Ethereum (ETH) que vai acontecer amanhã proporcionou um impulso no preço da plataforma de contratos inteligentes. Os volumes de negociação mostram que os movimentos recentes foram impulsionados principalmente por investidores da Europa e da América do Norte. A Ethereum está vendo um aumento de valor desde ontem na parte da tarde, com os preços de cada ETH subindo de US $ 118 para US $ 130 em apenas uma hora. A capitalização de mercado total subiu 10%, para US $ 1,1 bilhão. O aumento de ontem foi rápido e os preços se estabilizaram nas últimas 18 horas. O mercado pode continuar estável até que a atualização da rede ocorra no bloco 7.080.000. A implementação da atualização Constantinopla está agendada para amanhã (16). Ontem, o mercado inteiro de criptomoedas viu um mini-rally. O preço do BTC subiu 5% e agora está sendo negociado no nível de preço de US $ 3.600, depois de atingir um nível de resistência significativo. O preço da Ethereum subiu 11% e agora está sendo negociado por US $ 125. O que diabos é o Hard Fork Constantinopla? E o que esperar? O hard fork Constantinopla é a segunda atualização de uma série de recursos que a plataforma vai receber, conhecidas como “Metropolis”, anunciadas como parte do planejamento da Ethereum em 2015. Elas são projetadas para melhorar a segurança geral, a escalabilidade e a funcionalidade da blockchain, abordando os principais aspectos técnicos no código da rede. A Constantinopla é composta por cinco Propostas de Melhorias Ethereum (EIPs). Algumas delas simplificarão as ações de rede - reduzindo as taxas de gas para operações e transações de contratos inteligentes. Mas um dos principais recursos da Constantinopla será lançar a base do protocolo Casper: a transição que finalmente transformará a Ethereum em uma blockchain com Proof of Stake(PoS). Nesse meio tempo, um novo algoritmo de mineração anti-ASIC, conhecido como Programmatic-Proof-of-Work (ProgPoW), também será introduzido, para garantir que o poder de hashing não fique centralizado nas mãos de poucas empresas ou pools de mineração. Aumentos de preço em criptomoedas após atualizações de rede não são novidade. A última atualização da Ethereum que aconteceu em outubro de 2017, causou um pico de US $ 2 bilhões no valor de mercado da moeda. Mas os preços retornaram aos níveis pré-fork em apenas alguns dias. A atualização Constantinopla pode causar um aumento temporário no preço da Ethereum, mas qualquer ganho real só ocorrerá à medida que a rede for otimizada e se mover em direção ao protocolo Casper. O artigo Ethereum valoriza em meio a atualização de rede apareceu primeiro em Livecoins.

2 days ago

Ethereum’s Constantinople Explained

Ethereum’s vision to build a global platform for decentralized applications seems to be a bit far fetched as of now. However, Ethereum’s Constantinople hard fork may be best suited to help it achieve its primary mission. Ever since the beginning of Ethereum in 2015, it has utilized a proof-of-work (PoW) consensus algorithm. Proof of work was invented way back in the ’90s to prevent spam and services attacks. Cryptocurrency’s such as Ethereum use proof-of-work to ensure their open source has some sort of governance to weaken bad actors. It wasn’t until cryptocurrency users grew to the millions when proof-of-work was not suitable as it became too slow. Thus a proof-of-stake (PoS) algorithm, was created. With PoS being favorable, the hard fork for Ethereum known as Constantinople will be known as Ethereum 2.0. It will take place on block 7,080,000 and is to occur tomorrow, January 16th. What are the fundamental changes in Ethereum 2.0? EIP 145: Bitwise Shifting Instructions for Efficiency & Speed - Shifts in smart contracts will be 10x cheaper. EIP 1052: Smart Contract Verification for Speed & Energy - Smart contract can verify one another by pulling just the hash of the other smart contract. EIP 1014: CREATE2 for Scalability. Vitalik Buterin developed it. EIP 1283: SSTORE - Reduction of the gas cost by enabling multiple updates to occur within one transaction. EIP 1234: Block Rewards & Difficulty Bomb Delay - The block reward reduction will reduce the reward from 3 ETH to 2ETH. The difficulty bomb delay if activated would increase the energy required to mine a block until no new blocks can be mined. Upgrades Required Since second layer solutions will be implemented, exchanges like Binance and Coinbase will have to update their nodes. Even cryptocurrency services such as MetaMask and Etherscan will need to upgrade their nodes. However, users may not notice the upgrade as much. Zerocrypted Opinion Ethereum may be able to gain back to what it was in the period of 2017 with Constantinople. Improvements such as lower cost, higher speed, and better efficiency may bring Ethereum back to its potential. At the time of writing, Ethereum seems to be capitalizing before the upgrade. Ethereum is back in the third rank, with a market capitalization of $13,322,438,984 and a price of $127.63. However, with the update releasing tomorrow, expect it to jump back to the second position. Image Source - Flickr The post Ethereum’s Constantinople Explained appeared first on Zerocrypted - Your Daily Cryptocurrency News, Guides And More.

2 days ago

TrustToken AutoSweep Could Make Smaller Exchanges More Competitive

TrustToken, the company behind the TrueUSD (TUSD) stablecoin, has launched a technology that could be a game-changer for crypto exchanges. A new feature, dubbed AutoSweep, has been integrated into a TrueUSD smart contract, potentially making it much easier to manage large numbers of crypto wallets. As the name suggests, AutoSweep combines the addresses of account holders into a main wallet, removing the need for exchanges to manage millions of keys and dole out gas fees. End users, meanwhile, won’t notice a difference in the way their transactions are handled. In a press release, TrustToken compared AutoSweep to email aliases, which allow multiple distinct addresses to be managed from a single inbox: With email aliases, users can set up multiple outward-facing addresses (e.g.;; that receive emails into a single inbox. Likewise, AutoSweep allows anyone to create multiple outward-facing deposit Ethereum addresses that automatically settle into a single Ethereum wallet. Exchanges traditionally provide different deposit addresses for each user and token. When a deposit is made, the exchange must create a transaction for each address, manage private keys tied to each address and keep the tokens in a separate hot wallet, all of which cost gas fees. Enter AutoSweep, which according to TrustToken Software Engineer Terry Li solves a major “pain point” for exchanges and merchants. Li told Crypto Briefing: We help partners to reduce that. When a user sends funds to an address, AutoSweep automatically forwards the tokens to a central hot wallet. Think of it as aliases to the hot wallet. It’s easy to set up for anyone that wants to use this feature. Security and Benefits TrustToken has had the new AutoSweep feature audited and says it’s no less secure than current ETH addresses. TrustToken Marketing Manager David Steinrueck told Crypto Briefing: We wanted to make sure we erred on the side of practicality and that it would be theoretically impossible for anyone to exploit any issue. It comes down to how ETH security works. Essentially, we are betting [that with] the distributed computational power of the entire global Ethereum network, it’s impossible for anyone else’s computational power to crack the system. Meanwhile, the benefits of AutoSweep are two-pronged: exchanges no longer need to manage so many wallets, and funds are automatically forwarded to a main wallet, slashing the gas fees to zero. Typically, exchanges must pay hefty gas fees to move tokens into their main wallet. In an era where crypto exchanges like ShapeShift are tightening their belts, the new feature is a sign of the times that could go a long way. TrustToken designed AutoSweep for exchanges, including OTC platforms, and merchants that accept crypto. In fact, TrustToken says, AutoSweep could help to foster adoption among merchants who otherwise shy away from the challenges tied to accepting crypto as a payment method. This feature is actually best for people with much less technical knowledge or who have fewer people to manage millions of wallets. This makes it easier for smaller exchanges or merchants to automatically handle so many alias wallets and keys without needing accounts for all of them. We had mainstream adoption in mind for users who want millions of uses but who don’t want to manage millions of keys. TrustToken’s AutoSweep feature is now live on TrueUSD as the first use case, but is also public code. As a result, it can be integrated with any Ethereum-based token. Smaller exchanges are expected to be the first guinea-pigs for the new technology, but someone might want to let Jeff Bezos know that it’s now even easier for Amazon to start taking crypto. The author is invested in digital assets, but none mentioned in this article. Join the conversation on Telegram and Twitter! The post TrustToken AutoSweep Could Make Smaller Exchanges More Competitive appeared first on Crypto Briefing.

2 days ago

Ether Price Surges Ahead Of Constantinople Hard Fork

The excitement surrounding this week’s Constantinople hard fork has provided a much-needed boost for the Ether (ETH) price. Trading volumes suggest recent movements have been fueled by investors based in Europe and North America. Ether saw a sudden surge in value at around 15:00 GMT on Monday afternoon, with coin prices rising from $118 to $130 in the space of an hour. The total market capitalization rose 10%, to $1.1bn. The ETH price this week. Credit: CryptoCompare. The majority of ETH trades in the past 24 hours have been transacted with Bitcoin (BTC) and Tether (USDT), according to data from CryptoCompare. Among fiat currencies, a significant volume was transacted in US dollars (USD) and euros (EUR). The ETH-USD market is the largest, currently worth around $120m and ETH-EUR is nearing $30m - at current rates. For comparison, the ETH market with Japanese Yen (JPY) is worth approximately $4.5m. The sudden surge yesterday did not gather momentum, and prices have stabilized in the past 18 hours. Markets may continue to go sideways until the network update takes place at block 7,080,000. At press time, Ethereum’s block explorer showed a block height of 7,070,847; the Constantinople implementation is expected within the next day or so. What is the Constantinople hard fork? The Constantinople fork is the second in a series of wider updates, known as ‘Metropolis,’ first announced as part of the Ethereum roadmap in 2015. They are each designed to improve the overall security, scalability and functionality of the blockchain by addressing key technical points in the network’s code. Constantinople is made up of five Ethereum Improvement Proposals (EIPs). Some of these will streamline network actions - reducing gas fees for smart contract operations and transactions. But one of the main takeaways from Constantinople will be to lay the foundations for the Casper protocol: the transition that will ultimately turn Ethereum into a fully-functioning Proof-of-Stake (PoS) blockchain. In the meantime, a new anti-ASIC mining algorithm, known as Programmatic-Proof-of-Work (ProgPoW), will also be introduced, to ensure that hashing power doesn’t become centralized in a small collection of companies and mining pools. Price increases surrounding network updates are nothing new. The last upgrade, the Byzantium fork in October 2017, caused a $2bn spike in the Ether market cap. However, prices returned to pre-fork levels within a few days. The Constantinople fork may cause a temporary surge in the Ether price, but any real gains will come as the network optimizes and moves towards Casper. It may be a good start, but there’s still a lot, so to speak, at stake. The author is invested in digital assets, including BTC and ETH which is mentioned in this article. Join the conversation on Telegram and Twitter! The post Ether Price Surges Ahead Of Constantinople Hard Fork appeared first on Crypto Briefing.

2 days ago

Ethereum Constantinople: A Classic Case of “Buy the Rumor, Sell the News” says Weiss Ratings

Ethereum Constantinople hard fork is just about here and ETH has risen 9% as the market sees green. However, this system upgrade that is focused on speed, low cost, and efficiency, according to Weiss Ratings is a classic case of “buy the rumor, sell the news.” Ethereum Jumps 9% Amidst Green Market Ethereum’s hard fork, Constantinople is just a day away and the 3rd largest cryptocurrency is finally seeing a surge in price. As the market turns green and registers gains between 2 to 5 percent, Ethereum is up by 9 percent in the past 24-hours. Source: Coinmarketcap However, according to Weiss Ratings, this won’t help Ethereum in gaining back its momentum as this is just a case of “buy the rumor and sell the news. “ETH’s Constantinople hard fork and network upgrade is due this Wednesday. Sadly, this won’t help ETH reclaim its lost glory. This is the classic case of “buy the rumor, sell the news”.” Some do agree with this as one Twitter user commented, “100% true. Ethereum strategy: launch first without stability, promise the future. Repeat.” While another one stated, “Right, doesn’t sound too impressive...” However, many are optimistic as one enthusiast says “I think it’s awesome that Ethereum itself continues to evolve.” Realizing the Full Potential Constantinople, the name of the Ethereum’s hard fork upgrade coming on January 16th is a multi-step journey that will implement protocols such as Proof of Stake. The system upgrade will be implemented at block 7,080,000. This hard fork won’t be seeing any currency split as happened at the time of Ethereum Classic as Ethereum Community at large supports Constantinople. A brief review of the 5 Ethereum Improvement Proposals (EIPs) include, EIP 145: Bitwise Shifting Instructions for Efficiency & Speed - This upgrade means the execution of shifts in smart contracts will be 10x cheaper. EIP 1052: Smart Contract Verification for Speed & Energy - This improvement will allow for the smart contract to verify one another by pulling just the hash of the other smart contract. EIP 1014: CREATE2 for Scalability was developed by Vitalik Buterin. This improvement is for the enablement of state channels. EIP 1283: SSTORE - This proposal is to reduce the gas cost by enabling multiple updates to occur within one transaction more cheaply. EIP 1234: Block Rewards & Difficulty Bomb Delay is the most discussed and anticipated upgrade. The block reward reduction will reduce the reward from 3 ETH to 2ETH after the fork which will further reduce the inflation. The difficulty bomb delay if activated would increase the energy required to mine a block until no new blocks can be mined. With these improvements focused on lower cost, speed, and efficiency, it can help Ethereum to realize its full potential. The post Ethereum Constantinople: A Classic Case of “Buy the Rumor, Sell the News” says Weiss Ratings appeared first on Coingape.

2 days ago

Will Ethereum Reach Consensus Before the Constantinople Hard Fork?

We are less than two days before the much-anticipated Constantinople hard fork on the Ethereum blockchain. Constantinople has been set to launch on January 16 (block 7,080,000). The forthcoming upgrade was named after the capital of the historical Byzantium, the title given to the last Ethereum hard fork in October 2017. In short, Constantinople will introduce new features that aim to optimize the blockchain and pave the way for the Serenity hard fork that will follow. According to ethernodes, so far 1567 out of a reported 7650 total nodes have adopted the proposed changes on Ethereum. However, the data from ethernodes relies on devp2p, which according to Ethereum developer Afri, is an inaccurate method of counting active nodes: [1] First of all, ethernodes parses everything that speaks devp2p. This does not only include Ethereum nodes, but also nodes running non-Ethereum chains, and even nodes that are not even nodes (e.g., test clients, other scrapers, or whatever else you can do with devp2p). — Afri Jan 16 (@5chdn) January 12, 2019 On January 12, 2019, Afri puts the estimated nodes which have upgraded in preparation to the fork at around 44%, which has likely increased further since: [6] Out of these nodes, 235 (73%) of Parity Ethereum nodes and 798 (39%) of Geth nodes are already upgraded to Constantinople. So, in total, if we assume this sample is statistically representative for the Ethereum network, we can expect an overall upgrade rate of ~44%. — Afri Jan 16 (@5chdn) January 12, 2019 Representatives of the Ethereum community are confident that consensus will be ultimately achieved and the majority of nodes will update their clients just before the irreversible chain split. The Constantinople Hard Fork There are five Ethereum Improvement Proposals (EIPs) that will trigger with Constantinople. The Bitwise Shifting Instructions (EIP 145) is a change that aims to improve the cost and execution times in smart contracts. Similarly, the Smart Contract Verification (EIP 1052) allows for the faster verification of smart contracts, which will now be based only on their hash codes. SSTORE (EIP 1283) optimizes gas costs during SSTORE operation, and, CREATE2 (EIP 1014), a scaling solution which enables the use of state channels and takes transactions off chain. The Ethereum developer team has decided to migrate from the PoW to the PoS consensus algorithm, on which the number of miners will be gradually reduced until they are finally eliminated. Thus, the most notable change is probably EIP 1234, which includes a Block Reward reduction and a Difficulty Bomb Delay. The difficulty bomb is a built-in code that once activated; it starts to increase the difficulty in mining new blocks, up to the point that miners will no longer be able to verify transactions. It is then time when Proof-of-Stake algorithm will become effective. EIP 1234 will delay the difficulty bomb for 12 months when miners will be asked to vote again for the implementation of Serenity. Until then, miners will be able to keep their operations, but their rewards for finding new blocks will be decreased. Miners will receive with 2 ETH for newly minted blocks, cut down from 3 ETH that was rewarded to them thus far. Which Nodes Are Important for the Planned Fork? There are four types of nodes which are important when it comes to a hard fork of a blockchain, according to Ethereum developer Afri: [7] But this is not enough. Let's create a list of nodes that are most important to upgrade (subjective, descending): A) Miners, poolsB) ExchangesC) Block ExplorersD) Service providers @MyCrypto @infura_io ... Z) End-users — Afri Jan 16 (@5chdn) January 12, 2019 It is therefore likely that the nodes with a financial incentive, such as those listed above, have already upgraded ready for the hard fork, or are planning to do so. The large percentage of nodes which have not upgraded are likely end-user nodes, who have not been following the fork or who have been too lazy to upgrade. UPDATE: It was brought to our attention that the figures reported on ethernodes are inaccurate due to the way that nodes are parsed. An earlier version of this article suggested that the Ethereum chain was far from reaching consensus. The article has been updated with more accurate data. Will Ethereum Reach Consensus Before the Constantinople Hard Fork? was originally found on Cryptocurrency News | Blockchain News | Bitcoin News |

2 days ago

Coinbase Updates its Users On the Upcoming Ethereum Constantinople Network Upgrade

Ethereum blockchain’s next network upgrade will be arriving this week, and cryptocurrency Exchange Coinbase is now informing its customers on what they should expect during the upgrade. Coinbase will be supporting Constantinople and users will not be able to engage fully with the blockchain while the network is being upgraded. What Should Coinbase Customers Expect? Coinbase noted: “Customers on Coinbase Pro, Coinbase Prime, and and our iOS and Android apps can continue buying, selling, trading and converting Ethereum (ETH) during the upgrade.” The exchange will fully support the upgrade, but as it begins, it will pause sending and receiving ETH temporarily across all its platforms for technical and security purposes. Coinbase will allow sending and receiving ETH again when the upgrade is complete, and the security of the network is confirmed. In the meanwhile, users will be allowed to trade in ETH on all Coinbase platforms. What Will Constantinople Change? Constantinople is a much-awaited hard fork of the Ethereum blockchain. However, it will result in the creation of a new coin. Instead, it will implement five new Ethereum Improvement Proposals (EIPs) that will help in solving some of the network’s ongoing problems. The five EIPs will make smart contract shifts 10x cheaper while improving verification of smart contracts. It will also reduce gas consumption on some operations and reduce block rewards for miners form 3 ETH to 2 ETH. This ‘thirdening’ of block rewards means that less ETH coins will be produced over time. Also, the upgrade would enable off-chain transactions, which could help it scale further. The Ethereum Constantinople update will not require users to do anything extra unless their wallet service providers or exchanges notify them. However, the nodes will have to ensure that they are running the latest Ethereum client; otherwise, they will be running an incompatible pre-fork version of the chain. Coinbase Updates its Users On the Upcoming Ethereum Constantinople Network Upgrade was originally found on Cryptocurrency News | Blockchain News | Bitcoin News |

2 days ago

Living on Bitcoin Day 1: “That’s Not Going to Work”

“The point is to get people to think about bitcoin, not spend it. I don’t think it’s good for that. It’s not meant to be used like cash,” Jeremy Gardner, founder of Ausum Ventures, advised me.“Satoshi created a decentralized store of value,” probably encapsulates his thesis that bitcoin is best unspent — better to hoard it like gold. To Gardner, using it as a currency is not only impractical. It is counterintuitive.Well, I’m trying it anyway.After all, journalist Kashmir Hill experimented with living on bitcoin as early as 2013, so it should be easier now, right? Well, it is and it isn’t. Nearly six years later, I’m discovering that, while bitcoin’s payment infrastructure has advanced, its use as a method of payment, at least in San Francisco, has seemingly regressed.Before reporting to the conference I’m attending here in San Francisco, I had something important to do: I had to pay my respects to the pioneer.Before leaving my home in Nashville to start my experiment, I reached out to Kashmir Hill, a former Forbes-gone-Gizmodo journalist who did this in 2013 (and again in 2014). She graciously took me up on my request to meet up so I could pick her brain and seek advice.Getting to her was my first unbanked transaction. Transportation was a problem in her own experience until she got a bike, and even then, San Francisco’s hilly landscape is unforgiving, so it still wasn’t easy. It’s a way to get around, though, and I like the idea of being bike reliant for transport.All of my attempts to buy or rent one on Craigslist haven’t come to anything yet, so that’ll have to wait.I do have Paxful to buy Uber gift cards. Opting for this, I signed up for the exchange (where I had to give a phone number for authentication but no name) and transferred $25 worth of bitcoin from my BRD wallet. After executing a quick trade with one “Marxsmith,” I found myself with 25 bucks worth of Uber credit on my account.Hill arrived at La Boulangerie shortly after my Uber dropped me off, immediately recognizable, thanks to the turquoise highlights that accentuated the tips of her hair.When I thanked Hill for agreeing to meet with me, she replied she was naturally sympathetic to anyone who made the decision to live solely on bitcoin for a week. So sympathetic, she offered to pay my meal forward (the bakery doesn't accept bitcoin). I insisted on repaying her for the cheese danish and latte, but she said that she'd need to see if she remembered her Coinbase login to give me her public address."I wrote the articles and pretty much forgot about bitcoin," she joked.It was during the first major media cycle that came along with the 2013 bubble that Hill experimented with living on bitcoin. Not many people knew what bitcoin was yet. A few mainstream journalists were starting to pump out articles about what was, to many, a novel experience in itself: buying bitcoin.Hill's editor wanted to take the novelty farther: “Don't just buy bitcoin. Live on it for a week.” So she did."It was really on the fly — I got pretty lucky," she laughed, calling the planning and execution "lackadaisical."If her approach was lax, the execution was anything but. She attended one of San Francisco's famous “Bitcoin at $100” meetups, she shacked up in the crack-house-turned-hacker-hostel/cypher community, 20Mission, and she even toured Coinbase when it was “three guys in an apartment," she put it.As she mentioned this, a waiter brought our lattes. They were absurdly served in literal bowls about as big as my face.At the end of it, she remarked that she had very much been assimilated into this community. Using the bitcoin that the community had tipped her throughout the week, she took about 50 or so of them out to a sushi dinner, an 8-something BTC meal that, in a few years, would have been worth an Ivy League education. When I lived on Bitcoin in 2013, I treated a bunch of strangers to a sushi dinner that cost 10 bitcoin. At current valuation, that was a $99,000 sushi dinner!— Kashmir Hill (@kashhill) November 28, 2017 The crypto community in 2013 was devout but scant, and so were the places Hill could spend bitcoin. Her entire experience was punctuated by a sense of getting by. This is best encapsulated by the final line of her 2013 series: “I survived.”I compared notes with her about what I foresaw as being my biggest obstacles for the week, making mental notes to see if I could do more than “survive” and if 2013 might have actually been an easier year for the experiment.As our conversation came to a close, Hill left me with a nugget of advice that I’d adopted as a mantra for my own iteration of the experiment.“Don’t make the focus about yourself. Make it about other people, who the experiment allows you to access.”Leaving La Boulangerie, I took an Uber back to the conference venue, where I made arrangements with Jeremy Gardner to visit a new project he’s working on and, of course, tour the infamous Crypto Castle.We had a tight time frame; he was leaving for Park

2 days ago

Our Man At CES 2019 - Part Three: Manic Miner

Not all of the companies at CES exhibit on the show floor. All around the city are luxury hotel suites, hired to show off one’s latest product to the select few. On my last day at CES, I had an invite to see an eco-friendly mining rig, or so I thought. A Trip To The Other Side My time on the show floor had not been spectacularly productive. Whilst I had eventually found a smattering of crypto and blockchain related products and services, it wasn’t much. And it was so well-hidden that I’m sure there was probably a lot more I didn’t find. Although the conference track was great, there was no real link back to the show. It was almost like a stand-alone event. But a lot of the business of CES goes on around the show. With the biggest names in tech in town, why distract yourself giving out lollipops to the great unwashed? A company called Azultec had invited Bitcoinist to a private viewing of an environmentally sound mining rig. I washed. The $61,000 Question Founder and CMO, Aaron Licht, gave me a warm welcome and dropped his first bombshell. The Azultec Cube 300, which was what I had come to see, had been held in customs... so I couldn’t see it. Bombshell two swiftly followed as I was told that the device wasn’t just a cryptocurrency miner any more either. In developing the most energy efficient cryptocurrency miner, Azultec shifted focus to a far more lucrative application. The machine can still be used to mine a number of GPU-friendly alt-coins, but processing power can be divided between this and cloud rendering. Licht told me that rendering alone could bring in $61,000 per month. I repeated the figure to confirm it. He confirmed. Sadly, after checking the product documentation it seems I was being told six (hundred) to one-thousand dollars per month. The documentation says $600-2000, but this must have been where the confusion arose. That’s still a great passive income on a $7000 device, and that’s without any gains from mining. Environmental Credentials The Cube 300 boasts a liquid cooling system servicing both the 8 GeForce GTX graphics cards and the 4GB DDR RAM. Power consumption averages 1450 watts and the device achieves an OctaneBench score of 768 points, and an Ethereum hash rate of 310 MHash/s. It is designed to connect directly into a home heating system, enabling capture and reuse of 72% of the energy consumed. This can reduce heating bills, and hence gross operating costs. It can also connect to a fuel cell, which converts natural gas into electrical energy. This type of fuel cell is heavily subsidized in Azultec’s native Germany, so it’s a great way to further reduced carbon footprint. A Race Against Time Whilst I was talking with Mr. Licht, a message came through that the device had finally cleared customs and was being delivered imminently. We grabbed some breakfast to kill time, but no further news. I went back across to the show floor to kill some more time, but at the end of the day, the Cube 300 had still not arrived. Obviously, I was given pictures, but it would have been great to see (and hear) it running, as I had been told it was almost whisper-quiet. Still, we’ve been promised a review model, so there should be time to give you the full low-down before the ICO starts in March. Pre-registration is open now, and there is even an on-ramp for fiat investors, which is a bit of a novelty. Oh, and if by any slim chance the device does bring in $61,000 per month in render fees, I totally promise to write the review for you all before I disappear to Bali. As for CES... I’ll be going back. A little older and wiser though, and better prepared to sift through the mass of exhibitors in search of the crypto-stories being told within. Images courtesy of Bitcoinist, Shutterstock The post Our Man At CES 2019 - Part Three: Manic Miner appeared first on

2 days ago

Ethereum Classic Devs Fear Another Attack As Fee Spikes

Over the last 24 hours, the transaction fee on Ethereum Classic Blockchain has surged over 800%. It went from $0.71 to $6.10, and developers have cautioned exchanges against another 51% attack. The hashrate nearly doubled on Sunday. It went from an average of 160 GH/s to a peak of 3,054.29 GH/s. However, some Ethereum Classic developers believe it is not a 51% attack this time, and instead a Gas exploit. Miners would make more money from exchanges by pumping up the gas fee. lost more than $200,000 worth of Ethereum Classic last week to a double-spend attack. Ethereum Classic (ETC) is priced at $4.34, gaining 1.94% in the last 24 hours. (VS)

2 days ago

Stablecoin Issuer TrustToken Releases a New Wallet Management Feature

TrustToken, the issuer of the TrueUSD stablecoin, has revealed a new wallet management feature which will allow clients to register a unique deposit address that is matched with the exchange’s central wallet. TrustToken explained that these ‘aliases’ are similar to having more than one email address on the same domain and the firm said that a single wallet could also utilize up to 1 million deposit addresses. TrustToken software engineer Terry Li explained that the feature is designed for exchanges, merchants and any other companies trading with TrueUSD. Li also explained that “it’s much cheaper for exchanges to [use], they don’t need to run a lot of transactions to aggregate all these users’ tokens into their hot wallet.” The feature will result in reduced gas costs for exchanges and it will “significantly improve the accounting structure and save on time by automatically sweeping user accounts to the central wallet.” (RS)

3 days ago

@noble_financial It is both cost and logistics reasons. Cost...

@noble_financial It is both cost and logistics reasons. Cost: it does cost gas to send ERC-20 tokens. Logistics: we…

4 days ago

Wirex Adds WAVES to its Platform

CoinSpeaker Wirex Adds WAVES to its Platform The WAVES token holds a unique place in the cryptocurrency spectrum because its underlying utility addresses some critical hurdles that hinder the mainstream adoption of blockchain technology, such as scaling, interoperability and security. Sasha Ivanov, CEO and Founder of Waves Platform, says, “We see Waves as the bridge that will facilitate the transition from web 2.0 to web 3.0. The goal of our team is to put tools in place that will allow both enterprise and individuals to easily implement their own blockchains, while improving the UX of DApps and blockchain infrastructure.” Like Wirex, the Waves Platform was purpose-built, and since its launch in 2016, Waves has become one of the fastest, most secure and user-friendly public blockchain platforms available. In terms of its underlying protocol Waves is closer to Ethereum than Bitcoin. Ethereum is used to develop various DApps, but it can be expensive due to its Smart Contract language complexity and Gas fees that can grow dramatically over time. Waves Smart Contracts are simplified - they are a plug-and-play solution with fixed fees. Another improvement is the Waves-NG protocol with throughput of up to 1000 TX/s. Pavel Matveev, CEO and Co-founder of Wirex, comments, “While the Waves Platform is a bridge between the web and blockchain, we are a bridge between traditional and digital currencies. Together we solve many pain points in the industry. Our platform provides extra liquidity for cryptocurrencies and gives investors the ability to convert and spend their crypto instantly with our Wirex Visa card. Investors who buy WAVES through our platform will know they are with a safe, agile, cost-effective service. In addition, our existing users will have another strong and popular token to add to their portfolios.” The Waves Platform also has benefits for miners. Individuals who want to mine WAVES tokens don’t have to run a node themselves; rather, they can lease their wallet balance to someone who does. It basically offers built-in mining pool functionality that gives users even more flexibility. Dmitry Lazarichev, CEO and Co-founder of Wirex, says, “With our aim to collaborate with the best companies to produce innovative solutions in the crypto space, we recognised Waves as a highly professional and cutting-edge project and look forward to growing the relationship.” About Wirex Wirex is a UK based, FCA-registered international digital money payment platform that forged new rules in the digital money arena. They are a payment platform that offers five cryptocurrency wallets - BTC, ETH, XRP, LTC and WAVES, as well as traditional currencies. They gave the world their first ever Wirex Visa card that lets users convert and spend cryptocurrency instantly - from USD to Bitcoin, from XRP to Sterling. Wirex also launched Cryptoback - the world’s first Bitcoin rewards programme. It pays users 0.5% of their transactions back in Bitcoin, every time they tap, swipe or use their card at a point of sale. Now Wirex has over 2 million customers in 130 countries. About Waves Waves is a global blockchain platform launched in 2016. Waves’ mission is to build a blockchain ecosystem that allows users to address a wide range of real-world problems. The Waves team is creating a blockchain infrastructure with easy-to-use tools for individuals, developers and businesses. In April, 2017, Waves successfully launched its DEX (decentralised exchange), a fast and safe tool for trading the most popular cryptocurrencies. In late 2017 Waves-NG protocol was activated, enabling unprecedented throughput of up to 1,000 tx/s, whilst reducing transaction confirmation times to just seconds. In September, 2018, Smart Accounts became available on the Waves Platform as the first stage of Waves Turing complete Smart Contracts launch. Wirex Adds WAVES to its Platform

6 days ago

Ethereum Maps Route To Constantinople And Beyond

The Ethereum community is preparing for a hard fork, as the next step on a road that will ultimately leave mining behind. At block height 7,080,000, the Constantinople update will change the rules for network consensus. The upgrade is expected to occur sometime between January 14th and January 18th. Hard forks are system-wide updates that are supposed to be harmless but have become the scene of some community in-fighting. Ethereum’s most famous hard fork occurred after the DAO hack, when the majority of the community rewound transaction history to restore hacked funds to their original owners. What is Constantinople? The new update, Constantinople, is “designed to improve the overall security, scalability, and functionality by addressing key technical points in the network’s code.” It is made up of five different Ethereum Improvement Proposals (EIPs), which “describe standards for the Ethereum platform, including core protocol specifications, client APIs, and contract standards.” This upgrade will seek to ensure a smooth transition from the energy-intensive Proof-of-Work (PoW) algorithm to a greener Proof of Stake (PoS) algorithm. Hailed as a maintenance and optimization upgrade, Constantinople features a series of small, but highly technical improvements to the Ethereum protocol. These improvements are designed to expand the overall functionality, security, and scalability of the largest smart contract platform. They will also include changes to Ethereum’s economic policy by reducing block rewards and removing the “Difficulty Bomb.” The five EIPs in the Constantinople update are: EIP 145: This EIP introduces a native ‘bitwise shifting’ that can run through bytecode at a cost that is on par with other arithmetic operations. EIP 1052: Introduces a new upgrade, where only the compressed code containing essential contract data is checked, as opposed to the whole code. EIP 1283: This EIP proposes reductions in the amount of Gas developers need to pay when building smart contracts and reduces excessive Gas costs when unnecessary. EIP 1014: This EIP allows for communication with off-chain addresses, which is an important use case for state channels. EIP 1234: Upon implementation, the “Difficulty Bomb” (also known as “ice age“) will be removed, and blocks will become less complex and faster to mine. This EIP will reduce the reward per block from 3 ETH to 2 ETH per block, over a built-in 12-month timeframe. How ProgPoW Will Work Until Staking In anticipation of the shift to PoS, Ethereum devs have lobbied to implement Programmatic Proof-of-Work, otherwise known as ProgPoW. ProgPoW is an alternative PoW algorithm designed to close the performance gap between ASIC and GPU mining rigs. Many within the Ethereum community have expressed concern over ASIC-mining domination on the platform as the number of ASICs on the network has steadily increased. They argue that if this continues, there is a risk that power could be consolidated among mining pools or rig manufacturers who can halt or significantly delay Ethereum’s shift to PoS. To counter this, and simultaneously preserve the decentralization of the blockchain, Ethereum developers came to a consensus to implement ProgPoW. The ProgPoW algorithm has been specifically designed to match what is available on commodity GPUs. ProgPoW would essentially drop the improvement ratio of specialized ASICs, making it untenable to even invest in them. ProgPoW is an ‘ASIC-resistant’ algorithm and works to ensure that mining power cannot be centralized by a few players. What will staking ETH look like and how will users participate? The next big step after Constantinople is the Casper upgrade, when ETH token holders will be able to stake coins. Instead of mining blocks, network participants will be rewarded for running a node and holding ETH for a fixed period. Stakers will be chosen randomly from a large pool of token holders, earning rewards that are proportional to the number of ETH they hold. Staking also gives ETH holders decision-making power, allowing them to vote and ensure the legitimacy of transactions with the weight of their stake. For instance, if a user identifies a block they believe needs to be included in the blockchain, they will approve it by placing a part of their stake on the block. If the block gets added to the blockchain, the user will earn a reward proportional to their staked amount. Should the staker approve an incorrect or malicious block, they could lose their staked amount. Who needs to run the Constantinople update? Since the upgrade is a hard fork, the network of computers running ETH software must either update or continue running independently. Overall, the Constantinople Ethereum update remains an essential update for both ordinary users and developers. The author is invested in ETH, which is mentioned in this article. The post Ethereum Maps Route To Constantinople And Beyond appeared first on Crypto Briefing.

8 days ago

New Platform To Un-Veil Augur To The Mainstream

Memes could catapult Augur into the mainstream. Veil, a new peer-to-peer predictions and derivatives platform, is making its mainnet debut on Jan. 15. The betting platform, built on Augur, 0x and Ethereum, is currently in alpha format. In addition to the usual fare, one of the current betting markets is on the popularity of internet memes. Users can vote on the future popularity of viral images, based on the number of upvotes they receive on Reddit. Source: Yes, someone actually made money by guessing that this image wouldn’t reach 500 upvotes. Finally, the meme economy is returning dividends. Veil Offers Instant Settlements Veil is built on Augur, which is built on Ethereum. But, as many dApp builders have found, Ethereum is not an easy platform to build on. To reach mainstream adoption, a slow network simply won’t do. So they decided to build on the 0x protocol, “to speed up trading and minimize the number of transactions you need to send,” Veil explained in a Medium post. Veil orders occur off-chain, and “Veil pays gas to persist trades to Ethereum.” Developers also introduced an “instant settlement” feature that lets users settle up once the market expires, meaning winners can get Augur (REP) and ETH into their wallets sooner than later. In contrast, regular bets on Augur can take weeks to become finalized. After a widely anticipated launch, the Augur project has been stuck in the doldrums, boasting fewer than two dozen users in the last 24 hours, according to dappradar. That’s a bit embarrassing for a project that once boasted a billion-dollar market cap. Once the king of decentralized applications (dApps) on Ethereum, Augur has since been dethroned by the likes of Blockchain Cuties. Speaking of cuties, why not create a market for this adorable pooch learning to skateboard? Veil Targets Millions of Markets Veil envisions a future where “millions of people create and trade in millions of markets.” They are betting on predictions markets across four categories: Crypto derivatives - Who needs a bitcoin ETF? Veil makes it possible to “buy leveraged long or short exposure to popular cryptoassets.” Ethereum network hedging - Veil also has crypto miners in their sights and have launched a feed to “track the 24-hour rolling hashrate on Ethereum.” Grin markets - Grin is a private Mimblewimble cryptocurrency whose mainnet launches on the same day that Veil goes live on the Ethereum mainnet. Academy Awards markets - This one is a reflection of the movie buffs that make up the Veil team. Given their affection for award shows, they might want to think about a market for who ends up hosting the Oscars. Veil got a boost after securing funding from some of crypto’s biggest names, including crypto asset investment firm Paradigm, Sequoia, and venture fund 1confirmation. While the Veil team is targeting mainstream adoption, even the Augur project isn’t expecting that to happen overnight. Augur Co-Founder Jeremy Gardner told CryptoNewsAsia last summer that “real adoption is probably three to five years away.” By the way, if anyone wants to bet on the bitcoin price in 2024, there’s a market for that. The author is invested in digital assets, including bitcoin and 0x which are mentioned in this article. Join the conversation on Telegram and Twitter! The post New Platform To Un-Veil Augur To The Mainstream appeared first on Crypto Briefing.

8 days ago

Visa Teams Up SiriusXM to Revolutionize Driving Experience with the New In-Car Payments Solution

CoinSpeaker Visa Teams Up SiriusXM to Revolutionize Driving Experience with the New In-Car Payments Solution Visa, an American multinational financial services corporation that facilitates electronic funds transfers throughout the world, has partnered with SiriusXM Connected Vehicles Services Inc., a subsidiary of Sirius XM Holdings Inc. with the aim to create a new in-vehicle payment solution. Visa and @SIRIUSXM are joining forces to enhance the driving experience with the SiriusXM e-wallet, a seamless in-vehicle payment solution that enables order ahead payments for food, gas, and parking. Watch now: — VisaNews (@VisaNews) January 7, 2019 To revolutionize the driving experience, the two companies are working on the SiriusXM e-wallet which is expected to allow drivers and their passengers to complete and make everyday purchases on-the-go. They will be able to shop and pay for coffee, locate and pay for parking, purchase movie tickets, etc. According to the press release, users will activate and confirm payment with their Visa account through biometric authentication, like voice and touchscreen commands, which will help to avoid distractions that could endanger drivers or passengers during the transaction. The solution will be powered by Visa and SiriusXM Application Programming Interfaces (APIs). To implement such services, Visa is establishing virtual payment relationships through a number retailers and providing secure authentication capabilities for added security, while SiriusXM is developing the next-generation protocols that are necessary to establish real-time connectivity and in-vehicle interfaces with a broad variety of personalized content and data aggregated from a network of platforms. These services will be showcased to automobile manufacturers during 2019. Olabisi Boyle, Vice President at Visa, commented: “Teaming up with SiriusXM is a big step forward in Visa’s quest for connected commerce across the automotive ecosystem. SiriusXM’s solid network with automotive manufacturers and established consumer interfaces, combined with our payment expertise, will help fast-track the endless opportunities for drivers to safely and securely accomplish tasks during their commute”. The company promises that the Visa Token Service will provide an additional layer of security to transactions. John Jasper, Senior Vice President for SiriusXM Connected Vehicle Services, said: “Visa is the world’s leader in digital payments and our Connected Vehicle Services group has deep roots and a broad reach in the auto industry. Our work with Visa is a significant step in establishing the next generation of vehicle-to-everything connectivity, transforming the vehicle into a ‘hub’ that provides for real-time, convenient transactional services to drivers and passengers.” In-car payments are not new, they have already been explored and tried. 2017 was marked by collaboration between Jaguar, Shell, and Apple that allowed in-car payments using the latter’s Apple Pay platform. However, the partnership between Visa and SiriusXM is expected to shift things greatly, as Visa has sufficient experience in the field of financial services, while Sirius XM has gained a reputation of a good player across the automotive sector. Pooling their efforts together seems to have much success in the near future. The in-vehicle payment solution has already been presented by Peter Polit, Vice President and General Manager of Connected Vehicle Strategy and Business Development at SiriusXM on January 7 at the Consumer Telematics Show in Las Vegas, Nevada. Visa Teams Up SiriusXM to Revolutionize Driving Experience with the New In-Car Payments Solution

8 days ago

Zcash Tech Fires Ethereum Towards True Scalability

What a difference a new year makes. The crypto market is decidedly positive, with nearly all of the top 10 cryptocurrencies trading in the green — including Ethereum (ETH). With the ether price holding above $150, the community is optimistic for the upcoming hard fork date of Jan. 16. The scheduled upgrade, dubbed Constantinople, may be part of the reason why Ether prices remain resilient after a series of setbacks and delays deflated sentiment around the largest dApp platform. Adding to that resilience is the unexpected but welcome integration of zk-SNARKs onto Ethereum’s Plasma testnet, which is a positive indication for the network’s future scalability. Zk-SNARKs are the form of zero-knowledge cryptography used by Zcash (ZEC) for privacy transactions. ETH strongly influences the broader crypto market — in both directions. While bitcoin’s dominance hovers at 51.7%, ETH could be making a comeback of its own. After recently reclaiming the No. 2 spot among cryptocurrencies from XRP, Ethereum has once again given investors something to celebrate. Why It Matters Moscow-based Matter Inc. is a team of developers that looks to solve the blockchain’s scalability shortcomings. They recently launched what the dev team describes as a SNARK-fueled implementation of Plasma on Ethereum’s Rinkeby testnet. Dubbed Ignis: Fire, it bolsters Ethereum’s scalability to 500 transactions per second (TPS). Compared to Ethereum’s current limit of 15 TPS, the new tech thrusts distributed ledgers into the realm of the Visa network, which operates at 2,000 TPS. Plasma is the brainchild of Vitalik Buterin and Lightning’s Joseph Poon. It has been likened to Bitcoin’s Lightning Network, combining off-chain transactions with the security of the Ethereum main chain. Buterin previously suggested that zk-SNARKs had the potential to scale Ethereum to a capacity of 500 TPS. So it was no surprise that the Ethereum co-founder was impressed by Matter, although he clarified that it was “not technically [a] Plasma” implementation. This is NOT technically Plasma (the usual name is "rollup") but it's still amazingly cool. I did not expect it to be implemented so quickly. Great job TheMatter team. — Vitalik Non-giver of Ether (@VitalikButerin) January 6, 2019 The Matter team knew that they were stretching the “narrow meaning of the term Plasma” but say the ability to “achieve a gas cost reduction by a factor of 50 compared to normal token transfers” justified the classification. The three top priorities for the Ethereum project in 2019 are scalability, scalability and scalability. As a result, the Ethereum Foundation has awarded a $5 million “scalability, usability and security grant” to Parity Technologies. Parity has been a “self-financed and open-source effort since their founding,” and now the Foundation is incentivizing them to work faster. Parity will direct the funds toward Casper, sharding and other scaling solutions, with the funds to be released in tranches with each milestone reached. We look forward to making Ethereum even better by completing eWasm compatibility, shipping a light wallet for mainnet, and completing our work on sharding Phase 0 and 1. — Parity Technologies (@ParityTech) January 7, 2019 The More, The Merrier Meanwhile, another founder to cheer the zk-SNARK development was Zooko Wilcox, who expressed his support for on the community forum. It inspired the Zcash founder to “pursue this sort of approach for Zcash,” though he pointed out that it’s more difficult to scale private transactions. And even as Ethereum is just getting closer to the SNARK tech, Wilcox suggested that Zcash could go in another direction: I’m kind of disenchanted with zk-SNARKs and wanting to upgrade to toxic-waste-free systems like STARKs and Bulletproofs instead of using zk-SNARKs for more things, but that again makes it harder and pushes back a probable launch date by about two years. If Wilcox wants to know the impact that such delays could have on a coin’s value, he may want to ask Vitalik Buterin. The author is invested in digital assets, including Zcash and bitcoin which are mentioned in this article. Join the conversation on Telegram and Twitter! The post Zcash Tech Fires Ethereum Towards True Scalability appeared first on Crypto Briefing.

10 days ago

Bitrue to Add 4 New XRP Base Pairs This Week

The team at Bitrue Crypto Exchange have announced that they will be adding 4 more trading pairs with XRP as the base. The digital assets that will now be paired with XRP are DistrictOx (DNT), Pundi X (NPXS), Propy (PRO) and HOT. The tweet making the announcement can be found below. #2 Week of 2019 @BitrueOfficial We're happy to bring to you: $HOT/ $XRP, $NPXS/ $XRP, $DNT/ $XRP, & $PRO/ $XRP! 4 NEW XRP Base-Pairs which shall arrive by end of the week! @Curis_Wang — Bitrue (@BitrueOfficial) January 7, 2019 Other XRP Trading Pairs on Bitrue This announcement comes less than a week after Bitrue listed XRP base pairs with Tron (TRX), Stellar (XLM), NEO, GAS and OmiseGo (OMG). Prior to the 5 pairs above, XPR had already been paired with Bitcoin (BTC), Tether (USDT), Ethereum (ETH), Bitcoin Cash (BCH), Ethereum Classic (ETC), Gifto (GTO), Gemini Dollar (GUSD), Kyber Network (KNC), ChainLink (LINK), Litecoin (LTC), Paxos (PAX), QuarkChain (QKC), True USD (TUSD), WanChain (WAN), WaltonChain (WTC) and Ox (ZRX). The team at Bitrue also promised to pair XRP with Cardano (ADA) and VeChainThor (VET) in the near future. Bitrue’s 2018 Year in Review Bitrue was officially launched in April last year and has since managed to attract over 240,000 registered users globally. The exchange is currently ranked 56th on and according to daily trade volume. The exchange has handled over $16.6 Million worth of digital assets in the last 24 hours of trading - at the moment of writing this. The exchange has set a mission of listing more trading pairs in 2019 with XRP as the base. The exchange goes on to state that 3 out of its 5 most popular trading pairs involve XRP. They are BCH/XRP, ETC/XRP and LTC/XRP. More than 40% of Bitrue’s users are from Indonesia, Vietnam, India, Taiwan and US. The exchange has gone on to support three languages on its website interface: English, Chinese (Simplified), Chinese (Traditional), Japanese, Korean and Spanish. The mobile app supports English, Chinese (Simplified), Chinese (Traditional), Indonesian and Russian. What are your thoughts of Bitrue’s mission to list more trading pairs with XRP as the base? 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 Bitrue to Add 4 New XRP Base Pairs This Week appeared first on Ethereum World News.

10 days ago

Preview of some new features coming to Ubiqscan block explor...

Preview of some new features coming to Ubiqscan block explorer. Charts with Mining pool blocks found and Gas usage…

11 days ago

Busy Week For TRON With Multiple Developments Including Bitrue Adding New XRP / TRX Pair

Bitrue, cryptocurrency exchange, announced recently that would be adding five new XRP trading pairs to its offerings. XRP, the third largest cryptocurrency in the world according to CoinMarketCap will now be paired with Tron (TRX), Stellar Lumens (XLM), OmiseGo (OMG), Neo (NEO), and Gas (GAS), on Bitrue. Tron’s founder Justin Sun was quick to spot the announcement and retweeted it in support. The announcement came the same day as other positive developments related to Tron as the project appears to be making quick and significant progress. Bitrue Makes the Announcement Bitrue exchange tweeted recently to announce the arrival of five new XRP pairs. It wrote: As promised, we are adding 5 NEW $XRP-based pairs by end of the week! They are TRX, XLM, NEO, GAS and OMG! For other top voted pairs like #ADA and #VET, we will list those tokens first and add them in the next round, which will be pretty soon! — Bitrue (@BitrueOfficial) January 2, 2019 Bitrue also stated on January 4 in a tweet that they had launched the most demanded XRP-based pair from their users which is XRP/TRX and that it is now open for trading. Other Developments Related to Tron 2019 has been good for the Tron foundation so far as the number of new Dapps listed on Tron increased by 20 during the first week of the year along with many other positive developments. Another big moment for the Tron network was the announcement that the BitTorrent token will launch later this year. The token sale will run exclusively on Binance Launchpad. The BTT token will be used by the BitTorrent users to enable faster downloads. Justin Sun and the project lead provided more details about the BitTorrent (BTT) in a live stream on January 4th. We are LIVE, tune in to learn about BitTorrent’s new token $BTT! @tronfoundation @bittorrent @utorrentro — Justin Sun (@justinsuntron) January 4, 2019 BTT is set to boost the adoption of the Tron network as well as blockchain and cryptocurrencies in general. BitTorrent already has 100 million users who will be introduced to the new content distribution framework using BTT Token. However, they will also have the option to opt out if they do not want to use it. This week the Tron Foundation also announced that after January 5, the names of TRC10 tokens would not be unrepeatable anymore. After this time, the token ID will be the only TRC10 token identifier on the network. TRC10 token's name will no longer be unrepeatable after Jan 5 2019, 6:00:00 AM UTC. From that time going forward token ID will be the only identifier. For more details please check the announcement in the link. #TRON #TRX $TRX — TRON Foundation (@Tronfoundation) January 4, 2019 Busy Week For TRON With Multiple Developments Including Bitrue Adding New XRP / TRX Pair was originally found on Cryptocurrency News | Blockchain News | Bitcoin News |

11 days ago

0x allows users to trade ether using off-chain order books

First (formally) proposed through a whitepaper published on February 21st, 2017, the 0x (ZRX) protocol outlines the specifications for a decentralized cryptoasset exchange built on the Ethereum blockchain. The whitepaper‘s abstract notes that the 0x (ZRX) protocol aims to “facilitate low friction peer-to-peer (P2P) exchange” of ERC-20 compliant tokens on the Ethereum network. Authored by Amir Bandeali (a University of Illinois Finance graduate and the CTO at 0x) and Will Warren (a University of California, San Diego Mechanical Engineering graduate and technical advisor for Basic Attention Token), the platform’s whitepaper explains: “[The 0x protocol] serves as an open standard ... driving interoperability among decentralized applications (dApps) that incorporate exchange functionality. Trades are executed by a system of Ethereum smart contracts that are publicly accessible, free to use and that any dApp can hook into.” DApps developed using the 0x protocol have access to “public liquidity pools” and they can also create their own liquidity pool. DApp developers can also charge usage fees on “resulting volume.” 0x (ZRX), A Secure, Seamless, Free-Of-Cost Protocol According to its founders, the 0x protocol has been built in a manner that does not “impose costs on its users” or “arbitrarily extract value” from certain users in order to benefit another group of network participants. Decentralized governance is used on the 0x network to “continuously and securely integrate updates into the base protocol without disrupting dApps or end users.” What makes the 0x protocol different, and arguably better, than its competitors, Etherdelta and IDEX (both decentralized exchanges), is that the 0x platform offers off-chain order books. Meanwhile, IDEX and Etherdelta place their order books on the Ethereum blockchain. When you run your DEX on Ethereum, then you also have to pay gas fees for changing or cancelling trades. Using Relayers, Broadcasting Order Books Off-Chain The 0x network uses relayers, which are exchanges that run on the platform and broadcast order books off-chain. These orders are then picked up by the network’s users and once a transaction has been confirmed (buyer fills sell order), then the finalized transaction is recorded on 0x’s blockchain. The 0x network uses a native crypto token called ZRX to process fees that dApps built on the platform (and relayers) may charge. The ZRX token may also be used to vote for protocol improvements and upgrades. Users who are large stakeholders (own a large amount of ZRX) may have more voting power. ZRX Token Distribution Launched on August 15th, 2017, the maximum supply of ZRX tokens has been fixed at one billion. 50% of the tokens had been released at the launch, while 15% had been retained by the 0x development team. 15% of the total ZRX supply was allocated for the protocol’s ongoing development, 10% went to 0x founders, and 10% were reserved for the project’s advisors and early investors. The tokens which have been set aside for the 0x founders, advisors and staff members are to be gradually released over a four year time period. Investors who acquired ZRX tokens when the public token sale first began are able to access and liquidate their investments immediately. Over 30 Projects Launched On 0x Network There are currently more than 30 different dApps and relayers that have been launched on the 0x platform. These include: Aragon, an Ethereum-based project for “building unstoppable organizations”; Augur, the decentralized prediction markets platform; dy/dx, a protocol for decentralized margin trading and derivatives; Dharma, a platform for issuing tokenized debt agreements. Some notable relayers that are using the 0x protocol: Ethfinex, a “digital tokens trading and discussing” network; Paradex, a non-custodial decentralized trading platform; OpenRelay, a relayer built specifically for 0x developers. 0x Over-the-Counter (OTC) Trades There’s also a 0x over-the-counter (OTC) trading service which allows for the person-to-person exchange of ERC-20 tokens without requiring a relayer to complete the transaction. To conduct OTC trades on 0x, users must send a link to their counterparty which is then used to create and send the order. Network users are able to send the order through email, their social media accounts, or even by using pencil and paper. ZRX Listed On Coinbase Pro & Consumer In early October 2018, US-based digital asset exchange’s professional trading platform, Coinbase Pro, added support for the ZRX token. A week later the ZRX cryptocurrency was also listed on “Coinbase Consumer.” As mentioned, decentralized exchange Paradex uses the 0x protocol and it was acquired by Coinbase in May 2018. At the time of acquisition, Coinbase’s management team had said they would be integrating Paradex into Coinbase Pro. Commenting on the advantages and use cases for Paradex, Linda Xie, the managing director and co-founder of Scalar Capital, remarked: “0x was co-foun

13 days ago

2018 was the worst year for the markets in over a decade

Investors agree: 2018 was a bad year for markets. How bad is bad? A little bad? Very bad? Cataclysmically bad? The precise measure depends a little on where you’re asking about—and which markets. By at least one metric, it was the worst year of all time. Commodities such as oil and gold suffered another dismal year, while all over the world, markets struggled. In China, the Shanghai composite index fell 25%, compounded by the ongoing trade war with the US. For European banks and US financial stocks, closing the year in a bear market, there was little by way of silver lining. The forecast for US stocks overall looks barely more promising—short of a last-minute miracle, Wall Street will this year suffer its worst December since the Great Depression. Here’s a closer look at what sent markets hurtling down in 2018—and what’s in the offing for 2019: Global growth is slowing A slowdown among several big world economies is looking more and more like a certainty—and it’s turned markets upside down. As a November report from the International Monetary Fund notes, “Although still supportive of growth, global financial conditions have started to tighten.” Growth continues, but we’re now at a relative plateau, with higher US interest rates, a robust US dollar, and worryingly wild market swings putting pressure on emerging markets. In Turkey, for instance, the economic slump (paywall) sparked fears of a recession. Meanwhile, Chinese economic growth hit its lowest point in a decade, exacerbated by ongoing trade tensions and rising debt levels. The strong dollar—and all its problems A strong dollar might sound like good news for the US, but it wasn’t for everyone at home or away. Despite the US economy being in rude health (for now), the robust dollar proved problematic for US multinationals such as 3M, Caterpillar, Kimberly-Clark and Procter & Gamble, who do much of their business overseas. For them, and others, the healthy dollar ate away at the value of international sales and profits. In a blog post for Morgan Stanley, Lisa Shalett warned about the risk a strong dollar poses to foreign markets’ potential for growth: Countries that have borrowed in dollars see their total cost of debt service go up as the dollar strengthens against their own currencies. Liquidity can dry up and credit growth can slow, ultimately leading to slower economic growth. Commodities are usually priced in dollars so foreign buyers effectively have to pay more when the dollar strengthens. That can result in less demand, leading to lower prices. The sale of commodities is a key revenue source for many emerging market countries. Commodities are struggling It’s been a decade of lows for commodities, with seven annual falls in the past 11 years. The Bloomberg Commodity Index, which measures 22 commodities including lean hogs, gold, soybeans and crude oil, suffered a 12% drop this year after two years of moderate growth. As Jake Lloyd-Smith reports for Bloomberg, “Among 2018’s biggest losers, West Texas Intermediate crude slumped more than 20 percent amid concern there’s too much supply, while in metals, economic bellwether copper shed 18 percent on the Comex.” It was similarly bad news for sugar and steel. Natural gas was one of few commodities to experience any uptick at all, while uranium, wheat and cocoa enjoyed robust growth. Political turmoil equals market volatility The Twitter-happy US president, the looming threat of a no-deal Brexit, and a radical Italian government at loggerheads with the European Commission. These alone would be enough for a year of choppy markets—add to the equation the US-China trade war and the rise of populism all over the world, and you have decidedly stormy seas. In the UK, for instance, the end of 2017 heralded an all-time high for the FTSE 100; now, it’s down 12.49%. The new year will require careful political handling—though speaking to the Guardian, Berenberg’s Holger Schmieding was optimistic. Italy may avoid a “genuine Greek-style debt crisis” after finally passing its budget, while “Trump’s latest musings on progress in talks with China” may signal an end to the trade tariff. Whether careful negotiation will be enough to escape a no-deal Brexit for Britain is an open question. Though this year may have had its challenges, not everyone is panicking (and especially not those who held on to cash and bonds amid market volatility). It’s the same old story as the dot-com bubble, Black Monday of 1987, even the Great Crash 0f 1929: what goes down eventually comes back up again. But how much more things fall—and how much damage they’ll cause on their way there—remains to be seen.

13 days ago

Crypto Exchange Bitrue Adds 5 New XRP Trading Pairs

Cryptocurrency exchange Bitrue has announced the addition of five new XRP-based trading pairs. Founded in 2018, the exchange has supported XRP as a base currency since the day of its launch. The exchange experienced quick growth due to its XRP trading pairs. Its users can now trade TRX, XLM, NEO, GAS and OMG against XRP. Also, the exchange has announced a 50% off on trading fee for all XRP pairs. Bitrue saw a volume of $15.7 million in the last 24 hours. (VS)

14 days ago

@after_kornelius The transaction would most likely need to b...

@after_kornelius The transaction would most likely need to be resent (with a higher gas limit). You will need to co…

15 days ago

Stratis (STRAT) Now Has Sidechains and Smart Contracts in C#

Stratis (STRAT), a platform focused on blockchain development, recently announced the release of the new Stratis Sidechains and Smart Contracts coded in C#, marking the production release of both sidechains and smart contracts. The launch of the new Cirrus sidechain that supports smart contracts comes along with this announcement, and its CRS tokens will be used for transacting on the Cirrus sidechain and provide gas for running smart contracts. The sidechain utilizes a Proof-of-Authority (PoA) consensus algorithm which requires a federation of members to operate. (JF)

21 days ago

“Crypto Companies Will Choose the Governments the Most Open to Them,” Tim Draper and Others Forecast for 2019

2019 is set to be a year which cleanses the crypto market of scammers, brings about more comprehensible regulation of crowdfunding campaigns, the advancement of DEXs and related technologies, and the expansion of companies applying decentralized technologies. Here are some forecasts for the crypto industry for the upcoming year which, of course, should be taken only as a set of opinions and not a direct guide to action. ICO/STO The year 2018 marked the great ICO hangover with a tenfold decrease in total funds raised through token sales in November compared to that of January. The fact that ICOs have become almost a red card when trying to attract media attention has been appreciated by projects in the blockchain arena. The most affected were those who had at the very least some kind of tested product behind them, in the ocean of those who only bothered to muster up a white paper. This does not mean, however, that this fundraising tool which has proven its viability in a number of successful projects like Ethereum, EOS, and NEO, should be discounted. The main trouble is that speculators, scammers, Ponzi scheme followers, and even hypothetically innocent projects affected by attacks, overheated the market and enraged regulators. No wonder the ICO ended up being consequently banned in China and Hong Kong or faced a clampdown by the SEC. In pursuit of something less associated with criminality and hacks, the industry has come to a safer alternative for companies aimed at raising funds - regulated security token offerings, or STOs, which are a trend set to take off in 2019. Although the share of projects running STOs is now relatively small, complying security tokens with US securities law is intended to restore credibility amongst investors. From an investor perspective, security tokens imply far greater flexibility - in particular, the ability to easily sell them - and trustless transactions without the need for brokers and middlemen. Does all this mean that STOs will run like clockwork? Probably not, and for several reasons. Firstly, launching an STO remains no less complicated, costly and scrupulous than an ICO due to the ton of paperwork required for registration. For garage startups, fundraising will still remain an unbearable burden. Secondly, running an STO does not mean setting previous requirements to zero, such as KYC and AML compliance: procedures which bring about a loss of anonymity and privacy. Thirdly, if your startup meets the SEC requirements today, this does not mean the same will be said for tomorrow since the commission’s intentions remain a minefield. All that is left to do is wait for the SEC and other regulators to submit clearer rules of play. One way or another, the beginning of 2019 is expected to be marked by extensive lists of STO projects, along with collected funds aspiring upwards. Legality 2019 is set to become a year in which the rules of the game in the crypto market will become clearer if jurisdictions across the globe follow the example of United States’ SEC and Hong Kong’s SFC guidance. In addition to tougher sanctions towards ICOs, regulators will also focus on AML (anti-money laundering) and CFT (combating the financing of terrorism) regulations. Overregulation, however, may lead to crypto companies’ migration into more friendly jurisdictions and the setting up of new crypto hubs. “Governments overregulate at their own peril. As China and Singapore lost Binance to Malta, other companies will choose the governments that are the most open to cryptocurrencies, like Japan, Gibraltar, Switzerland, Malta, Cayman, some African countries, Singapore and others,” says Tim Draper, venture capital investor, founding partner of Draper Associates and DFJ. As for the US, they, according to Draper, might still be in the game if they come up with clear, light-touch regulations for crypto companies to operate within. Blockchain applications In 2019, blockchain-powered startups are expected to focus on advancing the unstoppable infrastructure for the digital world, including decentralized computing, a vital part of which is the elimination of single point of failure. Finance, banking, commerce “Bitcoin and all its associated technologies will lead the world to the transformation of many of the largest industries. And when Bitcoin, the blockchain, and smart contracts are combined with big data, deep learning, and Artificial Intelligence, almost every industry will ultimately be improved. Finance, banking, commerce, insurance, real estate, the law, accounting, healthcare, and government are the obvious industries that will benefit greatly from a new technological shot in the arm,” Tim Draper claims. “The blockchain will gain momentum in finance, which will result in the creation of counterparts of traditional financial instruments, asset management tools and new forms of securities,” says David Shengart, co-founder at SWIDOM agency, focused on fundraising and providing services fo

a month ago

Cardano Digital Asset Report: ADA Token Review And Investment Grade

Cardano Digital Asset Report: Introduction Cardano is the product of a scientific approach toward solving the most pressing issues of early blockchain projects. The project represents a comprehensive effort to tackle latency, throughput, security, decentralization, incentivization and system flexibility. It is unique in the fact that it was the first project in the space to be built on peer-reviewed academic research. It is also one of the pioneers of the proof-of-stake consensus protocol and promises a number of advanced architectural solutions, including a multi-layered network, HD wallet and a community-governed treasury. However, Cardano’s strengths are also its biggest weaknesses. At its core, Cardano is a research project, and while it has been hailed as a blockchain 3.0 network, it has severely lagged behind the likes of Ethereum and EOS in terms of adoption. Academic and technological prowess means nothing without commercial acceptance, and Cardano’s slow progress in this area puts at risk of being irrelevant. Cardano is a strong project that needs to show some tangible adoption results in order to break into the upper echelon of blockchain businesses. Initiation Report Summary Cardano is a blockchain network that utilizes PoS and aims to become a comprehensive financial system. It has faced internal issues, stemming from the alleged misconduct of Cardano Foundation leadership, which has highlighted issues of governance and strategy. Despite strong technological progress, Cardano has struggled with tangible adoption, threatening its eventual success against more active competitors. This report is the Initiation Report - our first deep dive into Waves’ performance and risk/reward factors. The analysis, verdict and accompanying grade reflect our opinion on the long-term value prospects of a given token based on the current state of project development and indicators of future commercial viability - they are not designed to be indicative of short-term trading opportunities. You can see a full explanation of how our reports are constructed and what they mean at the bottom of this page. Part One: The Business Case Cardano Market Opportunities Cardano positions itself as a financial system, and consequently holds a position as a player in the financial services space. The OECD estimates that financial services account for around 20% of GDP in developed economies. The financial services application market is expected to grow to over $103 billion by 2019. In addition, the size of the global banking and financial services software market is projected to eclipse $24 billion. The fact that Cardano is still in development and has not seen much in the form of dApp development makes it difficult to analyze future use cases. However, both the payment transaction and remittance space are clearly potential avenues for the network. The global market for contactless payment transactions is forecasted to grow $801 billion by 2025. Furthermore, the size of the digital remittance space is expected to exceed $8.5 billion by 2025. Clearly, there is a multibillion-dollar opportunity for Cardano’s network. However, the market is hotly contested by both blockchain and traditional market players. Since ADA is considered to be a cryptocurrency, everyone from Dash to Monero must be taken into consideration as direct competition. In this segment of the space, Cardano is far behind in terms of adoption and market penetration. Dash, for example, has devoted much effort to building infrastructure components for end users, such as ATMs, to satisfy some of the most sought-after use cases. A number of cryptocurrency projects have gone after the underbanked population of the world, eyeing this demographic as a potential market with the least amount of resistance from traditional industry players. While the developed markets will no doubt prove difficult to gain a foothold in, Cardano is facing the prospect of facing an uphill battle in the developing markets as well. Much of Cardano’s future success will depend on its ability to establish a dApp ecosystem. While, in theory, the network has several standout features, such as flexible architecture, HD wallets, low transactions costs, and interoperability, there is currently not much there for users or developers to play with. The dApp marketplace might be young, but there are already several big players vying for user attention. Ethereum has been a clear leader in terms of the number of dApps, but now EOS is making a run at the title. Furthermore, with the likes of Stellar introducing smart contracts, the space promises to become crowded very quickly. Number of New dApps per Month Finance is one of the most active dApp segments right now; as a result,the longer Cardano remains an afterthought for developers and users, the harder it will be for the platform to overcome the accumulating network effects of its rivals. dApp Market Category Breakdown A few years ago,

a month ago

The top 10 Crypto-Blockchain Platforms Emerging out of 2018

It’s been a busy year for crypto, and sometimes it’s difficult to stay abreast of everything that’s happening in the community. We’ve decided to put together a list of the top 10 Crypto and Blockchain projects of 2018, to hopefully help you keep up to date (and maybe even help you find your next favorite platform). ForkDelta ForkDelta is a decentralized trading platform that allows you to trade Ether and Ethereum tokens directly with other ForkDelta users. ForkDelta is a fork of EtherDelta that boasts tons of improvements on the original interface and a much faster oder processing system. ForkDelta includes EtherDelta’s orginal contract, with a revamped API. You can click here to head to ForkDelta. IDEX IDEX is another fantastic addition to this list. A decentralized exchange for trading ERC-20 tokens, IDEX combines the speed of centralization with the security of blockchain. It’s an ideal exchange for fans of ERC-20 based tokens (of which, we all know, there are many). IDEX helps users to trade continuously, without waiting for transactions to mine and while conducting multiple orders at the same time. You can start trading by going to CEEK CEEK is a universal currency for the VR and Entertainment Industries. With partnerships including Universal Music, Apple, and even Katy Perry. CEEKERS (the platform’s users) will be able to manage, access, and trade with digital assets using a special standard for multi-token transfer which can reduce gas cost down to around 1/10th of a cent. Learn more about CEEK by clicking here. Veridium Veridium is looking to create a regenerative economy that will help to sustain earth’s resources and combat climate change by reducing carbon emissions. Their system will help to turn industry-standard carbon offsets into tradable digital assets. Alongside their partners (including IBM), they’re hoping to create a marketplace that will automate carbon credit accounting on a corporate level, and help offset this process across global supply chains. You can head to to learn more. QTUM QTUM is an open sourced blockchain, that leverages the security of UTXO while enabling various virtual missions (such as x86 VM). QTUM is Proof of Stake based and has a decentralized governance protocol which allows for certain blockchain settings to be changed/enhanced through the use of smart contracts. As a company QTUM is incredibly forward thinking, and is definitely one to watch. Celsius Celsius is a P2P crypto-finance platform that connects holders of digital assets with borrowers. It allows crypto-holders to gain interest on their assets or to get a cash loan against their crypto (so using it as collateral). There are a number of advantages to this system: Firstly, th more crypto you put up as collateral, the lower your interest rate. You can also continue to HODL rather than sell your digital assets in order to secure the cash that you need, and there’s no credit check involved because your crypto is used as collateral. Need a loan? Head to to learn more. Menlo One Menlo One is an open-source blockchain on which developers can build dApps with as much speed and ease of use are their centralized ancestors. With Menlo One, blockchain data is cached and indexed on high performance “content nodes” which will make dApps as fast and user-friendly as users expect from the web, all which staying committed to the principles of decentralization. Learn more about Menlo One at Patron Patron hopes to create next-generation services for influencers, but providing a platform on which they can publish, discover, reserve, or sell influencer data on Patron’s trustful platform. It’s essnetially a “one stop shop for social media influencer focused brands and influencers themselves.” Some of the functions the platform will have include: driving the economy arond CTC and SNS media, selling and acquiring influencers, and a monthly subscription service or “Exclusive Ambassador Contract” Unfortunately their ICO has closed, but you can find out more about the platform at Augur/ Reputation Augur is a decentralized platform and P2P protocol that rewards you for predicting market fluctuations. Augur allows you to stake REP (the platform’s token), an ERC-20 coin, on correct outcomes to receive a portion of the market’s settlement fees. If you report or predict incorrectly, you’ll lose your rep. This is a pretty high-stakes platform (excuse the pun) but it can yield incredible outcomes for those willing to put in the work. 1.Vertex Vertex is an OTC market for tokens, which allows you to buy and sell exclusive tokens at preferential rates all before they’ve even hit exchanges. Built on principles invoking both centralization and decentralization, Vertex is something completely new to the crypto-sphere. As we all know, there’s quite a lot of uncertainty in the crypto-mar

a month ago

ISG - Creating a World without Communication Barriers

CoinSpeaker ISG - Creating a World without Communication Barriers The 21st century is connoted as the era of development of a global information society, which is deemed to be the bedrock of global information infrastructure. Many countries across the globe are focusing on building strong information and communication technologies to make their mark in the evolving global industry. While the advancements in the communication realm have been notable, there are certain setbacks that still impact the global penetration of voice and internet technologies. Challenges Hindering the Growth of the Communication Domain There are more than 7.5 billion mobile connections across the globe. While the number is close to the global population, there are many parts of the world that still don’t have access to basic mobile connections. Those sections are referred to as “dead zones”. Additionally, there are many economically backward regions where connections are available but the services are offered at a hefty price, making mobile connection an unaffordable option. As you can see, along with technical accessibility, the fact that modern communication services are offered at expensive rates is another crucial factor that hinders its large-scale adoption. In fact, the cost of broadband services is equal to the monthly salary of an average individual in a developing country. It is imperative to address these impending concerns that the modern communication landscape deals with in order to create a digital world that is not restricted by geographical boundaries. According to the statistics, only 40% of the world population has access to online services because of lack of accessible technology, low income to afford mobile communication, inaccessibility of connections in the remote regions, etc. ISG - A Futuristic Communication Solution The International Sky Group is a transformational platform that has used satellite communication and blockchain to offer streamlined and cost-effective communication services worldwide. It aims to create an online sphere without antenna towers, roaming, dead zones and distinction between rural and urban regions. By achieving this, the platform intends to enable the excluded 60% of the population to obtain cheaper communication services, offering them an opportunity to be a part of the global economy. Satellite Communication Satellites ISG has developed a robust Satellite Communication System (SCS) that can seamlessly function individually, as well as collaboratively with the existing global telecommunication networks. The system is based on a low-orbit communication satellite that offers the possibility of 100% coverage, thereby eliminating dead zones. Additionally, the SCS intends to offer high-speed data transmission of up to 12 Mbps, along with stable and affordable voice and multimedia communication services to air subscribers, who are traveling at the speed of up to 12,000 km/hr. Maximum Security Assurance Due to the present complex structure, the communication industry is highly vulnerable to security and privacy threats. ISG has addressed these concerns and harnessed the potentials of blockchain to offer secure and reliable communication solutions. Moreover, the platform adheres to high-security standards and offers wireless data transmission that further protects any data tampering. ISG - A Decentralized Approach to Modern Communication ISG offers cost-effective connectivity to multiple sectors including defence agencies, phone and cellular companies, internet service providers, oil and gas industry, etc. By leveraging satellite communication and blockchain technology, the company has developed a network that provides strong, stable, and cost-effective communication services worldwide. ISG - Creating a World without Communication Barriers

a month ago

Waves platform updates: Face ID, finger prints, new RIDE programming language

Launched in the Spring of 2016, the blockchain-based Waves platform was developed under the guidance of its Moscow-based founder, Sasha Ivanov. The Waves project also raised $16 million through its initial coin offering (ICO), which was one of the highest amounts raised through the crowdfunding method at that time. Waves Wallet: ICO Hosting Services, Built-In DEX When first introduced, Waves’ development team primarily focused on providing ICO hosting services, as the platform allows users to easily create and issue customized tokens for their business. The Waves wallet also has a user-friendly built-in decentralized crypto asset exchange (DEX). Trades are settled instantly and the Waves wallet supports both fiat and cryptocurrencies. However, due to regulatory restrictions in the US and some other jurisdictions, certain features such as credit card-related transactions through the Waves wallet may not be supported for all areas. First Movers Advantage: One Of The First Platforms To Launch A DEX Currently, DEXs are not seeing as much trading volume as centralized digital asset exchanges. The top DEXs have been recording daily transaction volumes of about $1.5 million, which is a tiny fraction of the average $200-$800 million in daily transactions settled on the top 10 centralized crypto exchanges. Average daily transaction volume on Waves’ DEX is of about $500,000, however, the platform may potentially have an advantage over other competing DEXs since its developers may be considered one of the pioneers of peer-to-peer (P2P) crypto trading platforms. Moreover, many other DEXs are not using their own blockchain and have been built on the Ethereum network, which has now become too congested. Introducing Smart Contracts About three months ago, the Waves platform introduced smart contracts on its mainnet. After being approved by over 80% of Waves’ community members, smart contracts can be officially activated. Included in the launch of the contracts are what the platform’s developers refer to as Smart Accounts. These accounts are non-Turing-Complete smart contracts, as they allow code to be executed directly on the blockchain, “but with deliberate limitations on functionality.” According to Waves’ development team, limitations have been placed on Smart Accounts so that there are no cases of “unwanted usage scenarios” and also to “increase the reliability of the system.” Some important features included in Waves’ Smart Accounts are as follows: Multi-Signature Wallets: One of the missing features from previous versions of the Waves wallet was two-factor authentication (2FA). However, by using the new multi-sig wallets, users can maximize their account’s security by enabling 2FA. Atomic Swaps: Users of two different token types can conduct trades from separate blockchain networks via a single contract. Token Freezing: “Preventing buyers from selling or transferring tokens out of their address for a certain amount of time.” This is useful in situations where “a vesting mechanism” is required or “for team/contractor payments after an ICO takes place”, according to an official blog post by Waves’ development team. Whitelist Voting, Data Oracles As part of Waves’ smart contract mainnet launch, there are other new features available as well, such as “whitelist voting” and “data oracles.” Although maybe not as useful as atomic swaps or multi-sig wallets, data oracles allow Waves platform users to connect to an external data source. Data from third=party sources is read-only as it’s registered on Waves’ blockchain network as a sequence of transactions. According to the platform’s developers, payments can be processed based on the data found in these transactions. Waves’ Smart Accounts Don’t Need Gas Like Ethereum Unlike Ethereum-based smart contracts or those issued on several other blockchain platforms, Waves’ Smart Accounts do not require “Gas” for processing. However, there’s a negligible network usage fee of 0.001 WAVES that will be charged for such transactions. There’s also a new programming language, called RIDE, that will be used to write smart contracts on the Waves platform. As described by Waves’ developers, RIDE introduces a new syntax which has been created specifically for coding smart contracts. RIDE has been “optimized” for execution on the blockchain as it requires “minimal resources.” Focus On Gaming Apps, 1 Million WAVES Developer Fund Similar to how other decentralized application (dApp) creation platforms such as Tron (TRX) and EOS have focused more on gambling and gaming apps, the creators of Waves have also announced an initiative to help attract video game developers. Introduced in October 2018, the initiative is supported by a 1 million WAVES development fund (appr. $2.53 million) from which developers will be compensated for their contributions. Earlier this month, Waves’ developers updated the platform’s mobile wallet app. The new features allow users to easily deposit and withdraw funds fro

a month ago

NewEconoLab’s NeoRay Will Make NEO Smart Contract Development Easier

NewEconoLab, the largest Neo community in China today released the online version of their neon_debug_gui debugging tool. The new tool called NeoRay integrates the deployment, compilation, debugging, and invocation of smart contracts. Why Is the New Tool Needed? According to NewEconoLab, they created a similar tool before but found that the novice may find it too complicated to work with “as they need to learn additional things such as configuration, use process, and understanding the implementation of contract debugging.” They suggest that NeoRay is a one-stop debugging tool that helps developers in quickly getting into the debug process right from the contract code. The tool doesn’t require any configurations. Developers simply need to open the web page of the tool and use it. The entire tool is available online which means that sharing and collaborating on issues becomes much easier. The tool consists of a wallet, a transaction result parser and a simple code compiler connected to Neo’s test net. Each of the three parts of the tool, contract compilation deployment, contract calling, and contract debugging are located on the same page. How to Use the Tool? Developers need to have a Neo wallet before they can start using the tool. They need at least 500 GAS in their account, which is the typical cost of deploying a contract in the network. The test net GAS is also available in the debugging tool. Each wallet gets a maximum of 500 GAS per day. Developers who need more GAS need to leave a message on the developer forum. The full step by step details on how to use the tool can be found in the NewEconLab medium post. NewEconoLab’s NeoRay Will Make NEO Smart Contract Development Easier was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

a month ago

Transnistria Welcomes Crypto Miners, Plans to Expand the Industry

The government of Transnistria has recognized the importance of cryptocurrency mining for the territory’s economy and budget. The unrecognized republic in Eastern Moldova now plans to expand the industry by attracting more miners with a crypto-friendly business climate and favorable regulations. Also read: CEO of Romanian Exchange Coinflux Arrested on US Warrant Tiraspol Plans for 100 MW of Mining Capacity Earlier this year, the Pridnestrovian Moldavian Republic (PMR) adopted legislation that legalized crypto mining and provided incentives for foreign investors to set up mining farms within its borders. Under its provisions, a free economic zone was established for these companies and authorities promised to provide the necessary infrastructure, including unrestricted access to the Transnistrian electrical grid. The new law “On the development of information blockchain-technologies in the PMR” also allowed tariff-free imports of mining equipment and exempted mining incomes from taxation. As a result, facilities with a total consumption of between 5 and 7 MW of electricity are now operating in the country. But the government in Tiraspol doesn’t want to stop there. According to its prime minister, Transnistria plans to increase that number to 100 MW and has already managed to secure the needed investments. In an interview recently broadcasted by two local TV channels, Aleksandr Martynov stated: We adopted a fairly liberal law that stimulates mining activities in Transnistria. We also isolated them from our tax system. The head of the executive power further emphasized that Pridnestrovian authorities do not exercise any control over the revenues from the production of cryptocurrencies and don’t claim any portion of the income generated by entities that operate mining facilities. He added that the main goal set by the government is to sell more electricity to the bitcoin farms, and Transnistria can offer a lot of it at a low price. Miners Utilize Excess Generating Capacity The largest producer of electricity in the region is the Russian-owned Moldavskaya GRES, a thermal power station built on the shores of Lake Kuchurgan on the Ukrainian border. It has an installed capacity of 2,520 MW. The station burns mainly Russian natural gas which the self-proclaimed republic does not even pay. The fuel is billed to Moldova which claims sovereignty over the separatist territory in a frozen conflict with the government in Tiraspol that dates back to the dissolution of the Soviet Union in the early 1990s. The $6 billion of money owed by the Kuchurgan power station are considered part of Moldova’s debt to the Russian supplier, Gazprom. Cryptocurrency miners help to utilize the excess capacity of the power plant. And more mining farms means higher revenues for the station, which translates into increased budget receipts for Transnistria, Prime Minister Martynov explained. He added that the projected income, which he described as significant, has already been included in PMR’s draft budget for the next year. What do you think of Transnistria’s policies towards the crypto mining industry? Share your thoughts on the subject in the comments section below. Images courtesy of Shutterstock. Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we. The post Transnistria Welcomes Crypto Miners, Plans to Expand the Industry appeared first on Bitcoin News.

a month ago

First Time Ever Ethereum Price Surpasses Bitcoin Cash

CoinSpeaker First Time Ever Ethereum Price Surpasses Bitcoin Cash For the first time ever, (or after the hard fork), the price of Ether has surpassed that of Bitcoin Cash. Among all other crashes in crypto world, this is now the latest negative milestone in a few weeks for the world’s fourth-largest cryptocurrency by market capitalization. According to data from CoinMarketCap, Ethereum traded at $86,76, while Bitcoin Cash traded at $83,07 at the time of writing. With the crypto markets underperforming for over a year now, the questions are haunting all investors: what is happening to the market? Where to go from here? If you are one of the pride owners of Ethereum and are wondering if Ethereum price will rise again, then you should be careful and go through some of the predictions made by market experts. Ethereum’s co-creator Steven Nerayoff has famously said that Ether’s market capitalization will reach USD 110 billion from the current USD 9,034,496,452 (at the time of writing). The reasoning behind Nerayoff’s prediction is that the amount of products being built on the Ethereum Blockchain is increasing by the day. It is also essential to know the cons and pros of Ethereum to understand where the cryptocurrency stands in the market. deVere Group, a consulting firm, has released the prediction of Ether at USD 2,500 by the end of this year. In October, Nigel Green, founder and CEO of deVere Group, one of the world’s largest independent financial advisory organisations, which launched deVere Crypto, the pioneering cryptocurrency app earlier this year, forecasted the future of the world-changing. He then said: “Another one to dent Bitcoin’s market share over the next few years, would be its current main challenger Ethereum. This is because a growing number of platforms are adopting Ethereum as a means of trading; there’s an increasing use of smart contracts by Ethereum; and due to the decentralization of cloud computing.” As per deVere, there will be a further hike in the price of Ether in the year 2019 and 2020. The reasoning behind deVere’s forecast is also the same- increased use of the open-source, public, blockchain-based distributed computing platform. Ongoing Development in Ethereum to Transform the Payments Industry? Polychain Capital’s CEO, Carlson-Wee, seconds Ver’s opinion of Ethereum surpassing Bitcoin. Last year, he was largely placing a bet that Ethereum, would win out; more than one-quarter of Polychain’s main fund was invested in Ethereum, according to its most recent audit. In communications this year with investors, the firm defended its performance as better than the crypto market at large. He still thinks that the ongoing development in Ethereum will transform the payments industry to deliver new ways of storing wealth. Investors in the fund credit a shift from assets such as Ethereum into less-liquid, more stable stakes in crypto companies internationally. That’s a less-volatile bet but one that’s harder to get out of in the case of an extended decline. Giving an interview at the Ethereum Industry Summit conference in Hong Kong in September, Vitalik Buterin, co-founder of Ethereum, said: “The blockchain space is getting to the point where there’s a ceiling in sight. If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore.” It’s interesting though that last month, cryptocurrency entrepreneur Jeremy Rubin wrote the Tech Crunch article stipulating the price of ETH and that it is bound to plummet. Vitalik Buterin agreed to the piece wrote on Reddit, “In Ethereum as it presently exists, this is absolutely true.” In the article, Rubin argues that Ethereum has problems with scaling and smart contract security. It is leading to the inability of outdoing the competitors and all of this will inevitably lead to the collapse of Ethereum (ETH) by “economic abstraction.” The phrase ‘economic abstraction’ is used for describing the transaction payment or smart fee (gas) in some token that’s not Ethereum Network’s native token. It means that instead of paying gas in ETH, a smart contract owner would pay in the token that’s native to their contract that’s likely based on ERC-20 standard. According to Rubin’s argument, if all owners of smart contract pay in ERC-20 tokens instead of ETH, it would result in decreasing the value of the asset or make it valueless. Vitalik even revealed the two proposals. The first one being: “Instead of paying for Gas in ETH, we could make every BuzzwordCoin transaction deposit a small amount of BuzzwordCoin directly to the block’s miner’s address to pay for the contract’s execution. Paying for Gas in a non-ETH asset is sometimes referred to as economic abstraction in the Ethereum community.” Another one is: “...average gas usage is targeted to 50% of a (2x higher than today) gas limit, using a self-adjusting minimum transaction

a month ago

O3 Labs Unveils NEO blockchain Payment Integration Allowing for GAS Payments

O3 Labs recently unveiled the v2 implementation of its O3 browser, which now includes a NEO blockchain payment integration that allows for the seamless integration of GAS payments for any service. The new service can be found in the O3 store, which is located in the ‘Apps’ section of the updated O3 wallet. Before this, there was no easy way for stores and services to use GAS for payments despite being the native currency of the NEO smart economy. O3 Labs intends to open source their API to allow any web application to integrate with O3 and accept GAS payments in the future. (JF)

a month ago

Veritaseum is preparing high performance oil and gas tokens ...

Veritaseum is preparing high performance oil and gas tokens on the African continent and throughout OPEC. Read our…

a month ago

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