SaluS SLS

$7.96
Market Cap $ 8.057 MM (#250)
24h Volume $ 153.399 K
Chg. 24h: -9.86%
Algo. score 1.6/5  (#1600)
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SaluS News

How Columbia University and IBM are accelerating blockchain technology

Columbia University is one of the oldest universities in the country. In fact, it’s older than the country. It was founded in 1754 when New York was still an English colony and its original name was King’s College. Along with Harvard and Princeton, Columbia has played a preeminent role in American academia; 96 Nobel Prize laureates have an affiliation with the school. It has been at forefront of the scientific discovery, 33 Nobel Prize winners were affiliated with its Physics Department, the Manhattan Project takes its roots here. The university also played a role in the invention of Sequential Lateral Solidification (SLS) as well as Session Initiation Protocol (SIP) - some of the widest used technologies today. In addition, the school supports quite a few initiatives to foster entrepreneurship and innovation amongst its students and alumni. It’s rumored to be the second largest owner of land in New York City behind the Catholic Church and boasts one of the biggest endowments which as of 2018 stands at around $11 billion. IBM (International Business Machines Corporation) is no slouch either, a tech giant with $110 billion market cap, and although it has gone through its ups and downs while transitioning from a hardware company to a software company, it has been amongst the early adopters of the blockchain technology as it was one of the early members of the Hyperledger Project. Thus, when we came across a headline “Columbia University and IBM Establish New Center to Accelerate Innovation in Blockchain and Data Transparency”, we believed this was a major development in the space and something that was a bit underrated by the community, so we decided to give our readers a better insight into this collaboration. Sharon Sputz, Garud N. Iyengar, Satish Rao, Jules Miller, and Nitin Gaur According to Sharon Sputz, Executive Director of Strategic Programs at Data Science Institute at Columbia University, the cooperation will consist of three main areas: 1) Education 2) Research and 3) Acceleration. Education Several courses will be added to the curriculum of various schools of Columbia University. For instance, the Law School will add a course on governance and the Business School will have one discussing digital assets as a new asset class focusing on the securities aspect. The new curriculum hasn’t yet been unveiled in its entirety. Research The research side of this partnership will be publishing whitepapers and conducting workshops. According to the Columbia University research leader Garud Iyengar, thus far, three research projects have received seed funding: Machine Learning and the Changing Economics of Knowledge (Simona Abis and Laura Veldkamp). “This project uses a combination of theory and empirics to estimate how data is transformed into knowledge, productivity, and profits, and how machine learning alters that process. By developing a method to value data as intangible capital, we can gauge how machine learning has changed the returns to scale of firms that use big data”. Incentive Compatible Blockchains (Christos Papadimitriou, Tim Roughgarden, and Xi Chen). “The goal of the research is to understand the role of incentives in blockchains. The researchers aim to explore the design space of reward mechanisms for both the Proof-of-Work and Proof-of-Stake frameworks, to achieve Myerson-like characterizations of incentive compatible blockchain protocols, and to identify tasks that are achievable in permissioned blockchains but formally impossible to carry out in permissionless blockchains”. DeepSEA Framework for Building Certified Smart Contracts (Ronghui Gu). “This DeepSEA-IBM project aims to enable the formal verification of Hyperledger Burrow smart contracts in Coq. It allows the developers to implement the contact in a high-level language, while a specification that can be reasoned about in Coq will be automatically generated. The contract will then be compiled into Hyperledger Burrow bytecode with a proof that no bugs are introduced during the compilation”. In addition, there will be workshops held on these topics, and the ultimate goal is to publish whitepapers illuminating the discussions held in the workshops. If the first research topic is not directly related to the blockchain technology, the last two touch on the subjects that don’t only have an academic interest, but practical implications as well. Based on the Bitcoin example, we know that the PoW (proof-of-work) framework may work, but we don’t exactly know why. Also, we assume that it becomes safe only once a certain scale has been achieved, but we don’t know where this threshold lies. On the other hand, the PoS (proof-of-stake) framework doesn’t even have much empirical evidence to support its validity; meanwhile, we are just a few months away from Ethereum Casper being implemented. Although the last research topic will be focused on Hyperledger Burrow, its findings should have general applicability to other smart contract enabl

a month ago

SaluS is proud to be a partner and collaborator with the Bit...

SaluS is proud to be a partner and collaborator with the Bitswift team. We look forward to working together to brin… https://t.co/y3TS6hGfec

2 months ago

CNBC’s Ryan NeuNer Hints at Coinbase IPO, Rumors Ensue

CoinSpeaker CNBC’s Ryan NeuNer Hints at Coinbase IPO, Rumors Ensue Coinbase, the leading crypto exchange in the United States, is likely to come with something new again. Ran Neuner, the most popular figure in the space of crypto-related news and the host of the show ‘CryptoTrader’ on CNBC, has claimed that the exchange is going to launch an Initial Public Offering (IPO). CNBC Cryptotrader exposes details of the Coinbase IPO raise tomorrow on a Cryptotrader exclusive. pic.twitter.com/YG4UOP3ju8 — Ran NeuNer (@cryptomanran) October 25, 2018 The original source of the news is unknown, but the announcement is great, as Coinbase is the biggest and the most popular name when it comes to the world of cryptocurrencies. The company is believed to be worth about $8 billion USD. According to the statistics revealed by Neuner, Coinbase now has 25 Million registered members, with 600,000 people trading every day on their platform. The California-based crypto exchange had $90 million in revenue last quarter, with expectations to earn $450 million in the last quarter of 2018. 80% of Coinbase’s revenue comes from the consumer services, 15% comes via Coinbase’s rapidly expanding institutional arm, and the remaining 5% iss sourced from additional services. Coinbase has gained a reputation of a trustworthy exchange. The exchange has reached some important milestones, that’s why IPO is possible and even necessary now. Neuner promised to reveal further details of the Coinbase’s IPO. However, some investors are quite sceptical of Neuner’s claim, among them is Larry Cermak, the president of Branick Consulting, Inc. The fact that this tweet only got 35 retweets is a testament of people finally waking up to @cryptomanran being a fraud. If he had any credibility whatsoever, leaking Coinbase's financials and intention to IPO would go viral. Giving bad financial advice eventually catches up bro https://t.co/QHuyQpk9fu — Larry Cermak (@lawmaster) October 25, 2018 Coinbase has not commented on IPO yet, but previous statements made by Coinbase President Asiff Hirji give some hints on possible taking the company public. In late 2017, he said: “It is certainly in the interest of our investors...and the most obvious path of Coinbase is to go public at some point, but there’s a lot for us to do between now and then, whenever that date is.” If the information is true, Coinbase’s IPO will be launched in the US. The IPO would have a significant impact on the cryptocurrency markets. Bringing a lot of mainstream attention to the exchange, the launch of IPO would also help the firm raise large amounts of funds for future projects. Steps Towards Creating an Open Financial System for the World Coinbase is on the news all the time. The exchange makes a lot of efforts to achieve its goal of creating an open financial system for the world. And for the time being, these efforts are successful. This autumn, the company opened some new offices, implemented some changes to its listing policy and introduced new products. Recently, Coinbase developed a new automated security tool which is now available to the public through an open source code. By utilizing a combination of human code reviews and automated scans, the Salus secutity tool is able to run and manage different security scanners automatically. On October 23, Coinbase Custody Trust Company LLC was approved by New York State Department of Financial Services (NYDFS) to operate as “a limited purpose trust company”, which is another milestone for the exchange. Now, as a qualified custodian, Coinbase will function similar to a bank. CNBC’s Ryan NeuNer Hints at Coinbase IPO, Rumors Ensue

4 months ago

The Daily: Goldman Sachs Invests in Wallet, Institutional Traders Borrow $553M

In today’s edition of The Daily we cover stories about the latest investment in the cryptocurrency space by Goldman Sachs, the amount institutional traders borrowed in the last six months from just one OTC desk, research on state-sponsored hackers, and a new security tool from Coinbase. Also Read: Security Giant G4S Offers Protected Offline Cryptocurrency Storage Goldman Sachs Invests in Bitgo Bitgo, the cryptocurrency security and custody company, announced on Thursday the second close of its Series B funding round, bringing the total raised in this round to $57.5 million. The new investors who joined in the round are Goldman Sachs’ Principal Strategic Investments group and Mike Novogratz’s Galaxy Digital Ventures. The funding is earmarked to supporting Bitgo’s wallet development. “This strategic investment from Goldman Sachs and Galaxy Digital Ventures validates both our market opportunity and unique position,” said Bitgo CEO Mike Belshe. “No one is better positioned than Bitgo to serve institutional investors who want to trade cryptocurrencies and digital assets. That’s why we’re focused on figuring out what it takes to secure a trillion dollars. The market’s not there yet but our job is to be ready first.” “Greater institutional participation in the digital asset markets requires secure and regulated custody solutions,” commented Rana Yared, a Managing Director of Goldman Sachs’ Principal Strategic Investments group. “We view our investment in Bitgo as an exciting opportunity to contribute to the evolution of this critical market infrastructure.” Institutional Traders Borrowed $553M Since March Genesis Global Trading is a registered broker-dealer with an over-the-counter (OTC) digital currency trading desk. The firm has revealed a meaningful increase in the number of market participants wanting to borrow or lend digital cryptocurrencies since the launch of its institutional lending business on March 1, 2018. The company reports that more than half a billion dollars passed through its lending desk since launch. This volume was across 11 assets and involved 60 institutional counterparties around the world. Additionally, its loan book stands at $130 million in active loans outstanding, which Genesis says has steadily grown over the year despite the bear market. Its clients include hedge funds, trading firms and companies that use cryptocurrencies as working capital. North Korean Hackers to Target Crypto Miners Next? Group-IB, a company that specializes in preventing cyber attacks, recently introduced its 2018 cybercrime trends report which includes some interesting analysis on state-sponsored hackers and the cryptocurrency ecosystem. For starters, approximately 56% of all money siphoned off from ICO projects was stolen through phishing attacks. And between 2017 and 2018, a total of 14 cryptocurrency exchanges have been robbed, suffering a total loss of $882 million. At least five of these attacks have been linked to North Korean hackers from the Lazarus state-sponsored group, with a combined loot of $571 million. Their victims were mainly located in South Korea. In addition to exchanges, the security researchers predict that major cryptocurrency miners may become the next target of state-sponsored hacking groups. Coinbase Introduces Salus Coinbase has introduced a recently developed programming tool called Salus. The software comprises a docker container that decides which security scanners to run, coordinates their configuration, and compiles the output into a single report. The company has made Salus open source on Github for other companies and teams to use. Explaining the decision, Coinbase stated: “All software companies leverage open source software, and common languages and frameworks often have security scanners which can tremendously improve security. Tools like these help us to ship faster, and we are tremendously grateful for these open source efforts. It was in this spirit that Coinbase started its open source fund, a token of gratitude for this type of community-oriented work.” What do you think about today’s news tidbits? Share your thoughts in the comments section below. Images courtesy of Shutterstock. Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com. The post The Daily: Goldman Sachs Invests in Wallet, Institutional Traders Borrow $553M appeared first on Bitcoin News.

4 months ago

Coinbase’ New Automated Security Scaling Tool Salus Made Available to the Public

Security has always been one of the highest priorities for the well-known United States-based cryptocurrency exchange Coinbase that is at the same time the largest crypto exchange in the country by volume. Recently it has become known that Coinbase developed a new automated security tool which is now available to the public through an open source code. The company has decided to name its tool after the Roman goddess of safety and well-being. So, it is called Salus. Salus Security Tool The company’s newly developed secutity tool is able to run and manage different security scanners automatically. Moreover, it can prepare reports on them. Coinbase has made the code absolutely available on GitHib to ensure that other teams can also use it. Commenting the advantages for their platform of this new security tool Julian Borrey, one of the developers of the program, wrote: “Salus coordinates security scanning across all the services we deploy at Coinbase. It helps us enforce security policies for each change made to a codebase and ensures there is a quick feedback loop with the developer about potential vulnerabilities.” How It Works As the company describes, the tool utilizes a combination of human code reviews and automated scans, such an approach helps to ensure that all the security measures have been undertaken for each concrete kind of device. Security scanners on the device can also ensure the highest level of security. Salus is said to be a state-of-the-art industry-grade security tool. Being aimed at making the production environment of the platform absolutely free of any possible errors, it also remains fully secure to its core. In the aspect of the importance of the tool and its availability to a wide audience, the official post of the company states: “Tools like these help us to ship faster, and we are tremendously grateful for these open source efforts. It was in this spirit that Coinbase started its open source fund, a token of gratitude for this type of community-oriented work.” Coinbase’ Recent Initiatives In general, it’s worth mentioning that Coinbase is one of the companies that never stands at one place. It is always moving forward taking into consideration the current market environment and needs. Just recently, CoinSpeaker has reported, that now trading operations with ZRX are available for users of Coinbase platform. Having analyzed their traders’ demands, the company has decided to expand trading opportunities for them and added the first ERC-20 to its platform. Moreover, just a couple of days ago, the company announced opening of its new office in Dublin, Ireland. Such an initiative is said to help the company to keep its rights to sell services to citizens of the EU countries even after Brexit. The exchange’s office in London will also continue its work. The post Coinbase’ New Automated Security Scaling Tool Salus Made Available to the Public appeared first on CoinSpeaker.

4 months ago


News courtesy of berminal.com
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