btc manager

Subscribe to btc manager feed btc manager
Bitcoin, Blockchain & Cryptocurrency News
Updated: 26 min 14 sec ago

Highly-respected and Vocal BitGo Engineer Targeted with SWAT Prank

3 hours 47 min ago

On October 16, Jameson Lopp, the lead engineer for BitGo and a highly respected figure within the cryptocurrency sector, fell victim to a cowardly attack which involved him looking down the barrell of a rifle and a false hostage situation report.

In an interview with TechCrunch, Lopp revealed that the attack led the local police department to shut down most of his neighborhood to investigate the incident with “dozens of patrol units, a SWAT team, mobile command post, a fire truck, and paramedics.” While Lopp gave reassurances that the police were able to deal with the incident, he noted that it was “a huge waste of public resources.”

A Personal Attack Launched by Bitcoin Supporters With Opposing Views?

Many experts, investors, and users within the Bitcoin community were saddened by the incident and the attack that was made against Lopp, who has been an important figure in the space for many years. Bitcoin Core developer BTCDrak, EtherPlan founder Donald McIntyre, Bitex partner Santiago Siri, Yours CEO Ryan X. Charles, Ethereum co-founder Hudson Jameson, and many others community expressed their compassion for Lopp, and offered any assistance he may need to cope with the situation.

In response, Lopp stated:

“Thankfully, it ended without an incident. It’s a price you have to be willing to pay when becoming an outspoken public figure.”

A substantial portion of the Bitcoin community was particularly angered and saddened by the fact that someone within the Bitcoin ecosystem had likely planned such a senseless act on a public figure, merely because of Lopp’s viewpoint toward the Bitcoin block size debate.

Although Lopp told TechCrunch that he cannot conclude with absolute certainty that the attack was carried out due to his philosophy on Bitcoin and scaling debates, he explained that similar attacks had been carried out against prominent Bitcoin experts, investors, and public figures.

“Same old same old: Bitcoin philosophy and scaling debate arguments. A few of the more extreme cases think I’m some kind of manipulative monster. The attacker never made any references to my public debates, so it’s not a certainty that they were motivated by them. They may simply want to extort me, similar to what has happened to several other prominent Bitcoin folks,” said Lopp.

Why Such an Incident Does Not Benefit Anyone in Bitcoin

Many individuals and organizations within the cryptocurrency community have opposing viewpoints on what cryptocurrencies should be, should offer, and how they should be structured. Even within the Bitcoin industry, there are several communities that oppose the philosophies of one another. In November, within a month from now, a group of companies, developers, and miners that oppose the views of Bitcoin Core is set to create another fork, known as SegWit2x.

Pseudonymous aliases and identities in the cryptocurrency development communities have their advantages (as well as obvious drawbacks); they allow discussions and developments to be facilitated in a truly open-source and peer-to-peer manner, as to how Satoshi Nakamoto, the creator of Bitcoin, envisioned the cryptocurrencies to operate.

Bitcoin and other cryptocurrencies are trying to compete with the global banking systems and existing authorities to provide an alternative decentralized system for the general public. It is of the utmost importance and benefit of the entire community that cryptocurrency users, investors, businesses, developers, and miners look out for each others’ interests and proceed with developments in an efficient, transparent, and secure way.

Incidents such as the recent threat that was made toward an important figure for the cryptocurrency community could discourage the maturation of the Bitcoin and cryptocurrency industries, with outsiders looking in perhaps put off by the toxicity of the debates. Such incidents should not reoccur for the benefit of everyone within Bitcoin and the protocol itself. While Lopp stated he was not intimidated, attacks like this may become worse and risk intensifying the schism in the community even further.

The post Highly-respected and Vocal BitGo Engineer Targeted with SWAT Prank appeared first on BTCMANAGER.

How to Obtain B2X Safely Upon the SegWit2x Hard Fork in November

4 hours 51 min ago

The SegWit2x hard fork is expected to occur in mid-November of 2017. Inevitably, if the hard fork is executed within the next month, it will lead to a split chain and the creation of another fork of Bitcoin. This guide details some ways you can prepare for the split.

How Will Leading Bitcoin Exchanges Address SegWit2x Hard Fork in November?

Leading Bitcoin exchanges and wallet platforms including Coinbase and Bitfinex, the world’s largest Bitcoin wallet platform and exchange, have announced that their plans to implement support for SegWit2x in November. Coinbase and Bitfinex will list SegWit2x as B2X, and the “BTC” moniker will be used for the original Bitcoin blockchain.

Upon the SegWit2x hard fork in November, users of most leading Bitcoin exchanges and wallets such as Coinbase, GDAX, Bitfinex, and Blockchain will be credited with B2X.

The SegWit2x hard fork is fundamentally different from the Bitcoin Cash hard fork in September. Last month, companies like Coinbase and Blockchain received significant amounts of complaints from users requesting support for BCH. Coinbase customers went as far to appoint a law firm to challenge the decision of Coinbase not to list BCH on its platform in court.

Consequently, both Coinbase and Blockchain announced their plans to list Bitcoin Cash. But, the two companies received criticism from users for their decision to integrate Bitcoin Cash support months after the fork occurred. At the Coinbase development team stated:

“Over the last several days, we’ve examined all of the relevant issues and have decided to work on adding support for bitcoin cash for Coinbase customers. We made this decision based on factors such as the security of the network, customer demand, trading volumes, and regulatory considerations. We are planning to have support for bitcoin cash by January 1, 2018, assuming no additional risks emerge during that time.”

But, as Litecoin creator and former Coinbase executive Charlie Lee stated, Coinbase and other leading Bitcoin companies such as Blockchain and Bitfinex cannot handle the SegWit2x hard fork in November as they did with Bitcoin Cash because it would most likely debut with majority support from miners. Since SegWit2x was proposed as a supposed “update” to the Bitcoin protocol with majority hash rate support, companies will not be given the freedom and flexibility to integrate SegWit2x support months after the fork occurs in November.

As Lee explained:

“Choosing to support only one fork (whichever that is) would cause a lot of confusion for users and open them up to lawsuits. So Coinbase is forced to support both forks at the time of the hard fork and needs to let the market decide which is the real Bitcoin.”

Therefore, users should expect every major Bitcoin exchange and wallet platform in most regions to support SegWit2x. So far, the following companies have announced support for SegWit2x; Coinbase, Bitfinex, Blockchain, Xapo, Korbit, Coins.ph, BTCC, BTC.com, and BitFlyer.

An interesting strategy for the Bitcoin Cash split was to use the different policies of various exchanges to open up arbitrage opportunities. For example, Kraken adopted Bitcoin Cash whereas BitMex ignored the cryptocurrency. The divergence allowed some clever people to gain from opening a margin trade; namely one bitcoin long on Kraken to be credited one BCH. Also, to hedge this position, a one bitcoin margin short could also be initiated on BitMex. Following the hard fork, an arbitrage as described above would have resulted in obtaining 1 BCH for free, as there was no BCH liability for the short conducting using BitMex. A more detailed guide outlining arbitrage opportunities for the upcoming SegWit2x hard fork can be found here.

Letting an exchange deal with the split has an advantage in that you will be able to seek market opportunities quicker than others who have not prepared. Since you will have access to both BTC and B2X quickly, you might be able to make better investment decisions.

Bitcoin Companies That Had Not Signed NYA May Not Run the Software

But, as Jimmy Song, Bitcoin developer and principal architect for Paxos stated, companies that previously had not signed the New York Agreement (or SegWit2x) could refrain from running the software.

“The notable companies that aren’t obligated to run Segwit2x are BlockStream, Chaincode Labs, BitGo, Poloniex, BitStamp, Bithumb, Kraken, and Gemini. As they have not signed the agreement, they are not obligated to follow it,” Song explained.

Hence, for Bitcoin exchange users, it would be the most practical and secure to confirm if the exchange will implement SegWit2x support in November or ensure that they are in control of their private keys (via a full node, hardware wallet or other non-custodial service) so they can access their B2X at a later date. Alternatively, users can simply move their funds to Bitcoin wallets that do plan to support SegWit2x in November, such as Blockchain.info.

This article will be updated as, and when, more information becomes available.

The post How to Obtain B2X Safely Upon the SegWit2x Hard Fork in November appeared first on BTCMANAGER.

Service Marketplaces Go Online with Blockchain Startup CanYa

9 hours 18 min ago

Tech behemoth Amazon.com started on July 5, 1994 out of Jeff Bezos’ garage as an online bookstore. Today, Amazon is a legendary company whose stock is trading at an incredible $1,000 a share, with almost $136 billion of revenue in 2016. So what happened over the past thirty plus years that launched Amazon to such lofty heights? The answer is simple; it created an online marketplace.

Amazon forever revolutionized the way products are sold and distributed. Window shoppers now shop in malls and buy their goods on Amazon. It isn’t uncommon to find something desirable in a Target, Best Buy, or Walmart, look it up on the Amazon app, and purchase it on the spot. Amazon Prime members can enjoy their purchases within just two days, and even same day and next day shipping options are available.

What is remarkable is how service distributions have not enjoyed the same boom as product distributions, until now. CanYa, a blockchain based platform, is an online distribution network that focuses primarily on the service industries. With the platform, users can list their skills and capabilities while potential buyers can find labor for tasks that need to be completed.

The benefits of CanYa are directly tied to its decentralized structure. The blockchain platform allows buyers and sellers to interact directly, keeping costs low and transparency high. Like Amazon, CanYa hopes to disrupt an important part of the online marketplace.

Decentralized Marketplaces will Revolutionize Service Distribution

CanYa’s blockchain platform provides a decentralized marketplace for services. The platform’s structure allows users to connect directly with each other without a central mediator, as is the case with traditional online marketplaces like Craigslist or TaskRabbit.

Buyers can find, book, and instantly pay for services either locally or globally, all without having to pay an additional fee. Such is the power of decentralizing an exchange. Additionally, users have the unique role of curating and verifying new services and providers through the reviews they submit. Popular services and service providers will experience increased business as the direct result of a job well done.

CanYa’s platform is an excellent way for service providers to earn CanYaCoins (CAN), the platform’s token. These coins can be spent on the platform or exchanged for free and sent to a Bitcoin or Ethereum wallet. Providers can also freely advertise their skills on both a local and global scale, and a small monthly subscription fee can be paid to be listed with a “featured status”.

A blockchain-based service marketplace sounds complex. But in actuality, it’s incredibly easy to use. Users, whether buyers or sellers, can downloaded the app on Apple’s App Store or Google Play. After creating an account, the transactions begin. Users can list themselves as service providers or search for services they want–or both. They also have the flexibility to choose a payment program and timeframe that best suits their desires. One time payments, subscription fees, ongoing maintenance–these are all options on CanYa’s blockchain marketplace.

Cryptocurrencies Have a Volatility Problem; CanYa has a Solution

Cryptocurrencies have a volatility problem. To quote the current U.S. President, “you know it, and they know it, and everybody knows it.” So what happens if someone buys two months of window washing services, begins payments, and then two weeks in the contract cryptocurrencies get cut in half? Will users be subject to crypto-volatility? With CanYa’s blockchain platform, the answer is “No.”

According to CanYa’s whitepaper, the platform “is uniquely protected against this by its hedged escrow contract, which collaterises the value of the coin with a proven store-of-value in a trustless manner.” In essence, the platform stores the original value of a user’s CanYa Coins and collateralizes them so that $1 in means $1 out. The internal hedge can withstand a drop of 0.8 or 80 percent, with further downside movements partially covered. Therefore, CanYa buyers and sellers can use the platform with the utmost sense of security–their money is safe and sound.

CanYa unveiled its beta version in Australia in December 2016. But in order to reach their long term objectives, they are turning to the public to raise funds and awareness. The coin sale is currently underway and can be accessed online on their website. 60,000,000 CanYa coins will be sold, with proceeds going towards the global launch scheduled for March 2018. Four months later, CanYa 2.0 will be debuted, featuring in-app translation services, video calling, chat-bots, and advanced desktop features. By 2019, CanYa hopes to be a mature platform with extensive global reach.

Plenty of companies have launched with the hopes of being the next Amazon, and plenty have failed. But with an incredible proprietary platform and a growing user base under its belt, CanYa has what it takes to become the next tech behemoth.

The post Service Marketplaces Go Online with Blockchain Startup CanYa appeared first on BTCMANAGER.

Please Welcome ‘Komodo Platform’: the B Conference Gold Sponsor

12 hours 31 min ago

This year’s Blockchain Conference in Abu Dhabi is set to be one of the largest industry conferences in the Middle East. On December 7, 2017, our event stage will feature amazing speakers from around the world, who will share their experiences and present to a lucky audience all about the growing industry that is Blockchain. This fantastic event is a must visit, a special day packed with the unique perspectives of thought leaders and visionaries sharing insights and wisdom in a beautiful setting.

We are pleased to present the ‘Komodo’ as our Gold Sponsor. The ‘Komodo’ team is focused on providing anonymity through zeroknowledge proofs and the security through a novel Delayed Proof of Work (dPoW) protocol. The project’s primary goal is to decentralize token issuance, exchange & distribution. They also provide a framework for dapps (decentralized apps) and corporate Blockchain-based solutions. They have accomplished this by introducing one of the most complete and trustless ecosystems in cryptocurrency.

‘Komodo Platform’ is the first cryptocurrency project to provide full atomic swaps with automatic order matching. It is the first project to create a private ICO participation and distribution mechanism by leveraging Jumblr and BarterDEX technology (dICO). Recently, the project has realized the first Atomic Swaps on SPV (electrum) clients. It allows users to swap atomically without having to download the entire Blockchain.

‘Komodo’ is one of the first cryptocurrencies to partner with the Fintech e-banking platform (Monaize). The same fintech company will launch the first-ever dICO using Komodo Platform’s technology.

‘Komodo Platform’ will be represented at the Blockchain Conference by their Chief Security Officer Karim D. J. Stadelmann. At the age of 21, Karim launched his first startup, which was successfully sold three years later. Following that, he joined several cryptographic and open source projects concentrated on IT related security and intrusion detection systems. In 2016, Karim started to cooperate with the Komodo core developers. Since that time, he has proofed his ITSEC skills and has been announced as their Chief Security Officer.

Join the B Conference Abu Dhabi to build our common future today!

To register for Blockchain Conference Abu Dhabi, please visit bconference.org

The post Please Welcome ‘Komodo Platform’: the B Conference Gold Sponsor appeared first on BTCMANAGER.

Flyp.me’s Inclusive and Seamless Exchange will Innovate Crypto-trading

13 hours 5 min ago

A new crypto-to-crypto exchange is launching, backed by industry veterans and the team behind HolyTransaction.com, the first web wallet to support Ethereum. With a 50 percent profit sharing feature, no requirements to create an account and a mechanism to propose and vote on, Flyp.me is holding a crowdsale so individuals can gain a stake in this new exchange.

The Problems with Crypto Exchanges

The exchange is already up and running, trading live with 14 cryptocurrencies and Flype.me is committed to advancing the cryptocurrency community by taking a stand against centralization. For instance, one major problem with the exchanges of today is that of centralized storage; for a user to deposit funds into his account, they must send cryptocurrency to the exchange which holds the private keys. As evidenced by numerous hacks, traders are taking a risk with their money with such custodians. A further problem relates to privacy; many exchanges may not request user identification but will utilize their digital fingerprint to ascertain who they really are.

Another barrier to trading cryptocurrencies is down to the limited number of trading pairs. For instance, to trade many of the different cryptocurrencies, you may have to set up two or three exchange accounts to access the cryptoassets you are interested in. It would be much more efficient to use a single service. FInally, many exchanges can be cumbersome for new users as existing exchanges do not cater to those with a novice understanding of how exchanges work and other technical details.

How will Flyp.me Address these Shortcomings?

For the problems mentioned above, Flyp.me is introducing an exchange that does not require an account, where the only information needed to use it is the user’s cryptocurrency address os that they can receive their funds. The exchange promises not to give away data about its customers to third parties voluntarily. Moreover, Flyp.me does not hold private keys, and the exchange’s reserve fund takes the role of processing trades instantaneously. Also, the exchange rate is calculated the moment a deposit is sent, ensuring that users get the best rates at the time they initiate a trade.

The business will aim to ride the wave of the colossal increase in trading volumes of top cryptocurrencies like bitcoin, litecoin, and ether and provide a service geared towards new entrants into this exciting market. The exchange service will put usability as one of its priorities, and utilize the services of many different exchanges to offer a complete experience, allowing the exchange of many different types of cryptocurrencies and tokens.

In short, Flyp.me address the shortcoming of current exchanges by basing its business strategy on six main pillars; accountless experience, uncompromised privacy, fastest speed thanks to a reserve fund, profit sharing, participatory policy-making, transparency and accountability and permissionless API.

Perhaps the most intriguing feature is the profit-sharing, which distributes 50 percent of the profits from fee generated every three months to FYP token holders. The revenue of the exchange is driven by the exchange rate offered by Flyp as well as the strategic partnerships that integrate the permissionless API for multi-currency payments.

Following the initial coin offering (ICO), FYP token holders will vote on the desirable balance between driving the userbase of Flyp and profitability. Token holders will also participate in a vote on the frequency of payouts following the first two payouts after the ICO.   

Encouraging and incentivizing the participation of users is what set Flyp apart from most exchanges and one of the main benefits that a FYP token holder receives is their inclusion in the governance of the exchange, allowing their voice to be heard to make proposals and decisions on key aspects. Votes will be proportional to the number of FYP tokens held.

The community-based aesthetic will be driven by the adoption of innovations such as decentralized asset platforms and atomic trading. Decentralized asset platforms will ensure the uptime of the exchange and promote privacy, while atomic exchanges will improve the efficiency of the operations.

The FYP Initial Coin Offering

Flyp.me is now running its ICO to fund the dev roadmap which includes Research and Development for second-layer solutions, the integration of decentralized asset platforms and cryptographic auditing.

You can now get Flyp.me Tokens (FYP) with a 10 percent bonus. As mentioned previously, FYP Tokens give token owners benefits including 50 percent share of the profits generated by the exchange, the ability to propose new features and coin additions, vote for key decisions and audit volumes.

FYP is an ERC20-based token and will be on offer until October 21 (15:00 UTC). You can join the ICO with various cryptocurrencies including BTC, ETH, LTC, ZEC, DASH, PIVX, FAIR, GAME, DCR, SYS, PPC, DOGE, BLK, and GRC.

The team behind Flyp.me are experienced in the world of cryptocurrency. For instance, Francesco Simonetti, the CEO of Flyp.me and HolyTransaction, has been active in the cryptocurrency space since 2013 and is the founder of the Rome Bitcoin Meetup and the Blockchain Education Network Italia. Six professionals with varied backgrounds currently work full-time at Flyp, but their identities are kept a secret to avoid external corruption or personal attacks.

Francesco Simonetti, Flyp.me CEO says:

“Flyp.me is designed for anyone who wants to exchange crypto instantly. We only ask the address where you want your exchanged crypto to be received. It is as simple as that. We are excited to accelerate our development roadmap following the ICO.”

In summary, the Flyp token sale will contribute toward advancing the exchange’s features and growing the user base. Flyp.me’s exchange is already live with 14 cryptocurrencies and you can try it out here. With prior experience at HolyTransaction, the team is well-suited to delivering an accountless, private cryptocurrency exchange that incentivizes users with a profit-sharing scheme.

You can find out more about the Flyp.me exchange and ICO via their whitepaper. Flyp.me are in the list of companies that do not support SegWit2X.

The post Flyp.me’s Inclusive and Seamless Exchange will Innovate Crypto-trading appeared first on BTCMANAGER.

Miniapps.pro Crowdsale: Bridging the Gap Between Small Business And High-tech World

15 hours 28 min ago

Miniapps.pro develops and promotes a new generation chatbot marketplace and platform powered by Artificial Intelligence, Machine Learning and Blockchain technologies to make them available for a broad market of micro, small and medium enterprises around the world, which number estimated up to 300 million.

You can find plenty of articles about Why Businesses Need Chatbots. They need it because chatbots help automate responses to routine customer requests, they’re engaging, they’re particularly good when targeting at millennials, and they are cost effective comparing to mobile apps for example. They are also use Artificial Intelligence. But while okay for big companies, its too resource consuming for SME. Headlines like “Chatbots are Helping Businesses” are mostly about a software giant, its supercomputer and its corporate clients like banks. 

Miniapps.pro democratizes the chatbot deployment for Small and Medium-sized Enterprizes by making it even  more affordable through its innovative decentralized marketplace and cloud platform. The platform has already been built and put into commercial service, working for about 10 mln mobile users around the world, sending about 1 billion messages every month. More than 5000 development teams are registered with Miniapps.pro chatbot platform.

Now Miniapps.pro is building a  decentralized chatbot marketplace that comprises sale partners from one side and developers from the other side. Developers create chatbot/miniapps templates and make them available through the Miniapps.pro  marketplace to sales partners. Sale partners work with SME clients and use those chatbot templates to create customised solutions for their clients. Partners do not need to have any software development or machine learning competencies. Instead they use Miniapps.pro Visual Builder to stick together templates just like Lego bricks, and AI components provided by connected partners.

Miniapps.pro has launched the crowdsale of its MAT tokens, which will last until December 18, allowing both chatbot and cryptocurrency communities to become part of its initiative. The total amount of 20 million MAT will be generated. The soft cap is set at $5 million. During the crowdsale 10 million MAT will be offered to participants  at the price of 0.01 ETH. As the platform has been already developed, collected funds will be spent mostly for business scaling and development of the partner network. 

The MAT token holders are offered an opportunity to take advantage of the Miniapps.pro decentralized ecosystem at attractive prices. A single MAT token (equivalent of ETH 0.01 or $3.00) gives an owner rights to participate in Miniapps.pro marketplace and get benefits worth $500 per year or even more depending on the amount of tokens under the operation. The detailed calculation of various MAT business cases can be found in the whitepaper.

The forms of the participation include becoming a partner and getting partner’s discounts, placing one’s chatbot templates in the marketplace, getting extra commission from template sales, running a referral program and others. If a token holder is not going to get involved in marketplace activities she can lease her tokens through the referral system to someone who wants to participate in the Miniapps.pro without purchasing its tokens.

There are 300 million micro, small and medium size enterprises in the world, according to The World Bank. Miniapps.pro estimates the MSME chatbot market as at least $3 billion a year, and  is set to take 10 percent of it. It is enormous number of the  platform and the marketplace’s  participants with different jurisdictions, financial regulations, national currencies and level of mutual trust, which are resolved by Miniapps.pro with the help of blockchain, smart contracts, cryptocurrency and tokenization.

The founder and CEO of Miniapps.pro, Vitaly Gumirov, emphasized the economic value of the token by saying, “Our token is made not only for fund raising, but in order to create a decentralized global marketplace and the community of developers and partners that will be able to meet demands of small businesses around the globe. This market is largely underserved by big tech companies, which prefer B2C or corporate B2B. At the other hand, SMEs often don’t have competencies or resources to implement IT solutions themselves. Miniapps mission is to bridge the gap between SME and high-tech world. By offering our token we invite participants to our future ecosystem, that will help to achieve this mission and make Artificial Intelligence, chatbots, and other state-of–the-art technologies affordable by small businesses over the world.”

In September 2017 Miniapps.pro collected $500,000 in a private presale. The entire amount was earmarked to launch the crowdsale of MAT token, which is being presented by the company as an attractive opportunity for those who want to be part of its revolutionary initiative to launch a decentralized global chatbot ecosystem and cloud platform.

The post Miniapps.pro Crowdsale: Bridging the Gap Between Small Business And High-tech World appeared first on BTCMANAGER.

Op-Ed: Why ICO’s Nauseate Me

Wed, 10/18/2017 - 18:02

All the rage these days in the Blockchain startup world are Initial Coin Offerings (aka ICO’s). And quite frankly as these campaigns continue to proliferate, they have become downright nauseating to my stomach.

Before pontificating further as to why I feel this way, below is a brief definition of what an ICO is.

Defined by the online site Investopedia:

“An (ICO) is unregulated means by which funds are raised for a new cryptocurrency venture. An Initial Coin Offering (ICO) is used by startups to bypass the rigorous and regulated capital-raising process required by venture capitalists or banks. In an ICO campaign, a percentage of the cryptocurrency is sold to early backers of the project in exchange for legal tender or other cryptocurrencies, but usually for bitcoin.”

So if you’re a startup founder that was previously unfamiliar with what an ICO is, then your ears probably perked up. This approach certainly has garnered tons attention from businesses seeking to raise obscene amounts of money; often in the millions for the project they are pushing.

The hype around Ethereum-based ICO’s has reached epic levels. And sadly the vast majority of these projects have no proof of concept, consist of a white paper that only a Ph.D. can comprehend, and are marketed via a website that was thrown up in record time.

As a result, despite being a heavy Bitcoin/Blockchain enthusiast since 2012, I have not invested in a single ICO. The projects that do have credible legs are in my opinion few and far between. The rest feel speculative, in some cases downright slimy.

I know, I know, my views here are harsh and will probably subject me to some hate mail. But it is what it is.

As a journalist, I feel this energy every day as my email inbox is often inundated with press releases pitching the latest and greatest ICO campaign on the planet. The email subject line typically starts out with the often repeated mantra of “we’re the world’s first blockchain blah, blah, blah” in an attempt to loosen me up so that I’ll cover the story.

Then there are the magical fairy tale success stories about ICOs that have already broken it big. The new brief typically reads something like the following:

“The groundbreaking (insert a name) project which is poised to revolutionize the global blockchain landscape sold out its ICO in 15 minutes, all while the co-founders were sipping lattes at their favorite coffeehouse. The project is now set to launch, the alpha version details of which are covered in their 30-page whitepaper. And no worries, the actual proof of concept will be forthcoming in 2020.”

Ahhh, maybe.

It’s also interesting to observe the tsunami of celebrity ICOs that are now popping up. Celebrities like Jamie Fox, Paris Hilton, and Floyd Mayweather are all jumping on the bandwagon.

All of this feels like the irrational exuberance leading up to the global financial crisis of 2008. Could the world of ICO’s ultimately experience this same fate?

The truth of the matter is that if I had a cool blockchain project that was valued at $250 million and I would walk away with at least 10 percent, then why would I continue innovating. Hell, I’d just cash in my tokens and retire on a beach. Because in reality, what sort of incentive is there for the co-founders to have a functioning project when their pockets are already full of money.

Perhaps the most obscene aspect of this racket is that everyday blockchain and crypto enthusiast are apt to toss money at these projects anyway, often based on pixie dust claims of a rich future return.

Now with Ponzis, pump and dump schemes and hacks becoming more prevalent, the howling jackals of the regulatory community are starting to step forward and say, enough is enough.

In full disclosure, I consider myself a free market libertarian who harbors a general disdain for regulations that constipate small business and free enterprise. But in this case, I’m even willing to admit that a common sense approach to reigning some of this in may be warranted.

One stakeholder that appears to be taking a leadership role here is Coinfirm. This blockchain-based regulatory compliance company recently announced a new Ethereum and ICO Anti-Money service that enable ICO compliance with AML/CTF regulations. In offering this, Coinfirm hopes to address a major roadblock to the Ethereum ecosystem becoming commercially adoptable, namely, the compliance risk associated with cryptocurrencies and blockchain-related entities.

Says Coinfirm CEO and Co-founder, Pawel Kuskowski, “We’ve been met with a great response so far from clients who use our AML reports for ICOs and token issuance. Our capability to service Ethereum for AML/CTF changes the game not just for us but the cryptocurrency ecosystem overall. Now one of the largest regulatory problems around ICO’s and tokens, for example, is being solved.”

Coinfirm is the first company to publicly break out and also offer AML/CTF capabilities for Ethereum on top of their services for Bitcoin and Dash. The company is also working on additional features and efficiencies for the platform that will be disclosed soon. My sincere hope is that their efforts signal the first of much more broader steps in bringing some rationality and common sense to the ICO landscape.

The post Op-Ed: Why ICO’s Nauseate Me appeared first on BTCMANAGER.

Analysis: Are 70 percent of Ethereum’s Transaction Value the Result of a Huge Mixer?

Wed, 10/18/2017 - 13:28

For some months the Ethereum network has processed more transactions than Bitcoin. However, a recent study discovers that 68 percent of the transaction’s value belongs to a huge mixer which obfuscates the origin of the ether. But the source could be more boring than supposed on first thought.

Actually Ethereum enjoys the nimbus of being the ‘white’ blockchain. While bitcoin has the bad reputation as the Dark Net’s currency of choice, ether usually is classified as the innocent currency of banks and geeks.

However, this standing has started to totter. Not only has the ICO hype demonstrated that Ethereum’s first ‘killer app’ is being a global platform for unregulated crowdfunding – a new analysis of Ethereum’s transaction graph has what it takes to disrupt the ‘nice guy’ image further. At least the authors of the analyses claim that in the center of Ethereum’s economic activity is – a mixer. And usually, mixers are not said to be a tool for those who have nothing to hide.

But before we take premature conclusions, let’s take a look at the analysis.

Throwaway Addresses at the Core of the Scheme

The Cyber Blog team analyzed all Ethereum transactions from Genesis Block to September 15, 2017. To do so, they clustered the addresses, which means that they searched for patterns which indicate that the addresses belong together. The concept is well known from Bitcoin, where sophisticated clustering algorithms have started to play a growing role in law enforcement’s investigations of Dark Net activities.

The clustering analysis of Ethereum’s blockchain resulted in a remarkable new finding; there is a class of “throwaway addresses.” These addresses received money, sent money shortly after and have never been used since then. “The temporary addresses constituted 46 percent of all active addresses and processed 65 percent of total transaction value during the analyzed period,” the authors write. Let that sink in. Nearly half of all addresses ever used in Ethereum. Nearly a third of all value that has ever been transferred with Ethereum.

However, these numbers sound more alarming than they are. The value of transactions is, as Vitalik Buterin pointed out in his answer to the article, confusing. “I think that ‘total quantity of ETH sent’ is a completely useless metric, because it is easily spoofable; if I were to send 400k ETH to myself in every block, then that would generate ~2b ETH moved per day, outshining whatever this ‘mixer’ is by a factor of 100, and I would probably be paying less than this thing in transaction fees to accomplish that. This is precisely the reason why the bitcoin community prefers talking about ‘coin days destroyed.’”

If you take another metric, the number of daily transactions, the role of the mixer gets more manageable. It accounts for ten percent of all transactions. One tenth is still a lot, but it has nearly no influence on the rapid growth of this number, which reached 300,000 to 500,000 in 2017. The mixer might be important, but not as important as the study presents it to be.

A Mixer between Exchanges

But let’s go back to what the investigation found out further. They research where the coins, which have been mixed, came from, and where they went. The result is this interesting illustration.

The major part of the input to the mixer comes from six exchanges. From their wallets, 31 million ether are sent into the mixing pattern. When they leave it, they go back to six exchanges. Between the exchanges, the coins are transacted 80 times, by which the mixer produced a transactional value of 2.5 billion ether. Between the exchanges and the core of the mixer is a shell, consisting of temporary and permanent addresses. The throwaway addresses in the core of the mixer receive amounts of around 500, 1,000, 2,000, 3,000, 5,000 or 10,000 ether.

Another graph illustrates how the share of the mixer’s transactions of all Ethereum transactions has grown over time.

It can be seen that the mixer simmered since mid-2015. After a test in late summer 2016, it became fully active in late 2016.

A deeper analysis of the observed addresses disclosed a certain pattern. The analysts divided the one-time addresses into six groups, depending on the value of the transaction they received; 500, 1,000, 2,000, 3,000, 5,000 or 10,000 ether.

“Take one set of addresses, e.g., addresses with incoming amounts of around 1000 ETH. After being active for some time, this set of addresses becomes inactive, and this is when another set steps in, e.g., that with 3000 incoming ETH per transaction. Thus, addresses ‘act’ as if orchestrated following one another over time which makes us think there is a certain system managing these activities. These addresses constitute the core of the scheme.”

‘Mixer’ Doesn’t Equate to Money Laundering

The Cyber Blog called their finding a ‘mixer,’ because obviously, this is what the throwaway addresses do; they mix ether and hide their origin so that it is hard to impossible to determine the trail of the money. The term mixer is usually used to describe activities relating to criminal money laundering. However, this is a dangerous prejudice. Cryptocurrencies like ether are very transparent and have insufficient privacy-preserving mechanisms. Increasing the privacy of coins is necessary, not just for criminals, but for everybody.

At least the analyst’s speculation is open-minded about the purpose of this huge mixing scheme they found. They had several guesses. First, it could be a cryptocurrency exchange mixing customer’s funds to make sure their clients get “clean money” which can’t be connected with criminal activities. Second, it might be possible that some entity wants to protect citizens of the US against unwanted contact with the regulators of their mother country. Third, the analysts speculate that some exchanges use this mixing scheme to transfer funds between them securely. And fourth it is possible that the analysts genuinely discovered a giant system of criminal money laundering with Ethereum.

An indicator for the last guess is that some of the addresses surrounding the mixer are connected to hacked coins, for example, this one. However, it might be inevitable that hacked coins end on exchanges at some point in time.

The Ethereum community voiced a fifth guess; the analysts, they claim, have found the wallets of Coinbase and GDAX. Interestingly in the list of exchanges, the analyst’s name Coinbase, the biggest exchange in the USA, as missing. This makes it plausible that it is simply the wallets of Coinbase rotating between the other exchanges.

So it is possible that the findings of Cyber Blog are less of a crime thriller than their blog suggests. It is also possible that the importance of the mixer for the economic activity on Ethereum is significantly smaller than the presented numbers pretend. However, the investigation is still exciting.

The post Analysis: Are 70 percent of Ethereum’s Transaction Value the Result of a Huge Mixer? appeared first on BTCMANAGER.

Hackers and Scammers Run Amok in Attempts to Produce Bitcoin

Wed, 10/18/2017 - 11:23

According to a recent report, nefarious actors through the use of Amazon Web Services (AWS) are attempting to employ an illegal means of producing bitcoin.

In this report, the security intelligence group RedLock announced that it had found that at least two multi-billion dollar, multi-national companies, Aviva and Gemalto, had their AWS cloud services compromised by hackers for the purpose of using the computer power to mine bitcoin. The hackers ultimately gained access to Amazon’s cloud services after discovering that some administrative consoles weren’t password protected.

RedLock discovered that the breaches were tied to hundreds of other consuls that had been unlocked across AWS, Microsoft Azure, and Google Cloud — likely by a careless systems administrator. The two affected companies were notified by RedLock about the issues.

“Upon deeper analysis, the team discovered that hackers were executing a bitcoin mining command from one of the Kubernetes containers,” read the report. Kubernetes is a Google-created, open-source technology that simplifies the process of writing apps for the cloud.

Hackers have long had the ability to worm their way into corporate servers to pilfer data, which they usually sell for money, or provide to state-actors seeking intelligence information. But bitcoin mining is a different animal in the sense that the previously mentioned hackers are basically gobbling up and stealing pricey corporate cloud storage space.

Technically, anyone could attempt to mine bitcoin via the Amazon service. However, the process is very energy intensive and would likely subject the perpetrator to high energy costs. But it may be worth it in large part because bitcoin‘s continued meteoric rise could make it lucrative.

But it’s worthwhile for many because success can be very lucrative.

This news involving Amazon Web Services comes on the heels of another report which found that scammers are utilizing school, charity and file-sharing websites to generate crypto-cash. They are achieving this by installing code on sites that use visitor computers to “mine” cryptocurrencies. Attackers can rapidly generate cash by getting lots of computers to join the network.

Chris Olson, CEO of The Media Trust, a firm that delivers ongoing insight and security for today’s digital landscape (websites & mobile apps) says:

“This incident highlights an underlying flaw in conducting business during the digital age – no one really takes the time to learn about their digital partners (authorized and otherwise) that add code and functionality to their website. The inability to monitor third-party script on a website can blindside website operators with not only security concerns but also with significant data compliance risks.”

Given these scenarios, Olson notes that continuous, real-time digital vendor risk management is imperative for any website operator seeking to fortify their defenses against rogue third-party script running on their digital asset.

When asked whether the proliferation of these sorts of hacks might eventually have a chilling effect on the global use and adoption of cryptocurrencies, Olson had this to say, “While early adopters and adventurous investors drive the growing popularity of cryptocurrencies, the wider public is still in the early stages of awareness about cryptocurrency as an investment tool.”

“When you add hacking into the mix, it can definitely stall adoption. So to dispel this consumer doubt, website owners and operators of digital asset exchanges will need to go to further lengths to fortify their website security and demonstrate a heightened security posture to their consumers.”

Olson says that in spite of the global application security market showing strong growth expected at a CARG of 17.7 percent by 2025, it’s ironic that today’s consumer-facing websites are still not immune to hacks and attacks. Digital shadow IT from unmonitored third-party code executing on websites, he says, is at the heart of this problem.

He concludes: “Companies need to identify and vet their direct and indirect digital vendors. It is that simple! Adopting a holistic digital risk management program will enable security professionals to monitor all code executing on their digital properties and defend their websites and mobile apps against breaches. This preventative stance is especially valuable in the case of cryptocurrencies, where there is a direct impact on investments, reputation, and sensitive customer information.”

The post Hackers and Scammers Run Amok in Attempts to Produce Bitcoin appeared first on BTCMANAGER.

$48,374.60 Win Landed by Previous Big Winner!

Wed, 10/18/2017 - 10:37

Player who recently landed a massive big win at BitStarz finds luck once more as he received a $48,374 payout on Diamond Cats.

Thursday, Oct 12, 2017 – BitStarz player hits pay dirt as he got a $48,374 payout when playing the popular slot Diamond Cats.

Winning big is all about luck and timing, and one lucky player at BitStarz sure has the purrfect blend of both as he landed his second big win in just a few months!

Not too long ago, the player in question decided to take on the evil witch of the popular slot Hansel and Gretel: Witch Hunters. After a few spins on the reels, he walked away with over $64,800, which is not too bad for a day of witch hunting.

Even though that game is quite terrifying, our player is no scaredy cat, and speaking of cats, yesterday he made a first deposit since his previous massive win, and played the favorite slot of all crazy cat ladies: Diamond Cats!

To his surprise, he almost immediately hit a 1,000x multiplier and walked away with 10 BTC ($48,374), which is more than an average salary for a year (or enough to feed a cat for 503 years). At the end of the day, they say diamonds last forever, so Diamond Cats might live forever too.

Bitstarz.io offers games of several different providers in a hybrid multi-currency environment and is one of the leading bitcoin casinos on the market, always on the front line of releasing new and exciting games. They’re also top-ranked among over a thousand casinos on the world renowned casino review site AskGamblers.

The Marketing Manager of BitStarz, Srdjan Kapor commented,

“Some people might think that just because you’ve won in the past, it means you can’t win again. Well, this is clear proof that it isn’t true. Big congratulations to our lucky winner and I’m excited to see if he manages to win big again soon!”

About BitStarz

www.bitstarz.io?utm_source=rss&utm_medium=rss

BitStarz, is a well-established boutique casino and was first to offer wagering in both Bitcoin and major international currencies. BitStarz has more than 850 games in its portfolio and are most known for their lightning speed cashouts with an average payout time of 10 minutes, as well as their personal customer service agents. It holds a gaming license issued from Antillephone N.V., based in Curacao.

For more information, please contact Srdjan Kapor at srdjan.kapor@bitstarz.com

Press contact:

Srdjan Kapor

Marketing Manager

srdjan.kapor@bitstarz.com

www.bitstarz.io?utm_source=rss&utm_medium=rss

The post $48,374.60 Win Landed by Previous Big Winner! appeared first on BTCMANAGER.

500+ Industry Leaders to Design a Roadmap for Blockchain at LAT Blockchain Economic Forum

Wed, 10/18/2017 - 10:04

LAToken, the first multi-asset tokenization platform, will hold LAT Blockchain Economic Forum in New York on October 31 – November 1 to gather major industry players and design a roadmap for the exponentially growing crypto economy.

As one of the market leaders, LAToken aims to design sustainable rules and governance framework for blockchain industry in cooperation with 500+ top entrepreneurs, investors, academics and regulators.

20+ speakers have already confirmed their participation, Miko Matsumura (Pantera Capital, $100m ICO-only fund), Alex Mashinsky (Governing Dynamix, $3bn), Reese Jones (Singularity, Facebook), Mike Jones (Science Inc., MySpace), Hanna Halaburda (Bank of Canada, author of “Central Bank Digital Currencies”), Kenneth Goodwin (former US FED), Brian Eha (author of “How Money Got Free”), Michael Golomb (ICO Governance Foundation) and many others.

The attendees will explore global blockchain opportunities, trying to define, whether cryptocurrencies are a $5 trillion market or just a bubble, whether Smart Contracts can replace Central Banks and whether investments in crypto can exceed investments in fiat.

The tickets are available with 20 percent discount from standard prices. Press accreditation is also open now. 

About LAToken

LAToken facilitates the broad use of cryptocurrencies in the real economy and allows cryptoholders to diversify their portfolio by getting access to tokens linked to the price of real assets. It is the #1 tokenization platform by capitalization with $19,6 million raised from 10,000+ contributors.

LAToken deploys an open LAT Protocol, that allows to tokenize and trade any assets, ranging from equities and commodities to real estate and artworks. LAT Protocol ensures that the link between the token and the underlying asset is legally and technically enforceable, and enables P2P contractual rights transfer. The protocol allows to tokenize and trade in crypto assets worth $1.2 trillion by 2025.

LAT Platform is already operational. Tokenized shares of Apple, Tesla, Google and other blue chips, as well as gold, oil and real estate ETFs are traded on the LAT Platform via crypto. This is a good opportunity to diversify crypto portfolio without converting to fiat. Owners of illiquid assets, such as real estate or works of art, can tokenize them and sell by fractions with a liquidity premium estimated at 10-40%. Fiat traders can prefer LAToken to NASDAQ due to lower transaction costs and 24/7 availability.

Contact for accreditation and press inquiries: kate@latoken.com

The post 500+ Industry Leaders to Design a Roadmap for Blockchain at LAT Blockchain Economic Forum appeared first on BTCMANAGER.

How Investors can Earn Money in the $2 Billion Market of eSports

Tue, 10/17/2017 - 19:11

The international industry of eSports ranks among the world’s most rapid growing and highly profitable markets. Many of the business sharks and heavyweight investors such as Tencent, Amazon, Alibaba, USM Holdings, Warren Buffett, have already come up with investments into eSports in their attempt not to miss the developing market. The average annual growth rate amounts to 37 percent. It is expected that the eSports market will come ever closer to $2 billlion in 2018.

A team of experienced developers who have already participated in successful projects such as GNOME, OpenVZ, FreeBSD, is creating the first decentralized eSports platform that complies with the worldwide standards of the eSports federations, WESA and IeSF. In cooperation with the Twich and Civic companies, and also with active cooperation of the world’s best eSports teams from the Top-10 rating, they are ready to become the leading platform in the $2 billion industry of eSports.

The existing platforms involve serious problems for the players. There are frequent downtimes and errors on the servers. The resolution of game disputes sometimes depend on persons who are in collusion with the opponent. Most companies are under total control of their owners, and the users’ deposits are often confiscated or fall into hackers’ hands. The World of Battles decentralized gaming platform solves all the existing problems: eliminates network downtimes, checks the results of the games resolving disputes automatically, and safeguards the users’ money. These innovations significantly enhance the quality of eSports. They will make game playing completely automated, more secure, and much more pleasant.

World of Battles presents a platform where everyone has an opportunity to show their skills fairly and to build a career as a professional gamer.

The World of Battles breakthrough platform created on the basis of Ethereum’s smart contracts gives everyone an opportunity to compete in popular online games such as Hearthstone, League of Legends, Dota 2, CounterStrike: GO, StarCraft 2.

The World of Battles platform is already functioning, and the project’s team, having attracted $3.7 million, is launching their own ICO for the further development.

“We can see that all the eSports platforms are at the very start now, and they are no competitors for us, as we have approached the finishing line with a practically ready product that we had worked at for more than a year and a half“, Makoto Takahashi says.

The World of Battles’ ICO for selling WoB tokens opens on October 17. The application is based on blockchain and Ethereum’s smart contracts. Alpha testing of the World of Battles took place in February 2017. The public release of the World of Battles’ beta version will go out in December 2017, more than 450,000 players have already completed their registrations.

World of Battles is starting an active cooperation with the largest international eSports federations, WESA and IeSF, in the forthcoming world championships, and also intends to become the main partner of the 2022 Asian Games.

Basing on the opinions of the industry’s lead analysts, the project’s founder Makoto Takahashi expects the World of Battles’ income from holding contests and advertising in 2018 to be no less than $83 million (see the Table).

Game

Number of players per day

Potential income

League of Legends

29,000,000

$56,550,000

Hearthstone

11,000,000

$21,450,000

Dota II

1,300,000

$2,535,000

CS:GO

800,000

$1,560,000

StarCraft 2

550,000

$1,072,500

Total

42,650,000

$83,167,500

World of Battles, the first decentralized eSports platform where the entire process is absolutely transparent and inaccessible for third-party interference, makes it possible to protect the players interests and to determine the winner based solely on their personal skills. Automatic winner determination and award distribution, start of direct broadcasting to Twitch in one click.

“We have taken the strategic decision on exclusive cooperation with the leading stream video company, Twitch. This step will allow for reaching the maximum eSports audience throughout the world,” Makoto Takahashi says.

The Main Forthcoming Events
  • Conducting of the ICO — starts on October 17, 2017,
  • Public beta testing (more than 450,000 players have registered) — December 2017,
  • The official release of the platform — 22/02/2018,
  • Holding an international tournament with $500,000 prize pool — March 2018.

The World of Battles company oriented at becoming the leader in the growing international market of eSports that is reaching the $2 billion mark, will cooperate with Civic to ensure that their users are provided with a reliable and decentralized technology of identity verification complying with all the laws and requirements in force in the world.

We are on the Threshold of the Future in eSports

World of Battles is the most anticipated eSports platform of 2017. The absence of competition, the open cooperation with Twich, Civic, the WESA and IeSF international federations, and also the support from the world’s eSports stars, will turn around the most fast-developing industry in the nearest time. Listing on the largest exchanges (HitBTC, Poloniex, Bittrex, Binance) within 30 days after the end date of the ICO is guaranteed. Due to the great number of requests for participation in the ICO, the World of Battles team is planning to sell all the tokens within the first hour with maximum bonus for the investors.

The post How Investors can Earn Money in the $2 Billion Market of eSports appeared first on BTCMANAGER.

IBM, KlickEx, and Stellar Set Out to Speed up International Finance

Tue, 10/17/2017 - 16:01

On October 16, IBM announced that it would be collaborating with KlickEx and Stellar in order to accelerate the speed of banking transactions. The platform will be built on IBM’s Blockchain and seeks to help consumers achieve faster settlement times as well as reduce the cost of global payments.

The goal of IBM’s platform is to ultimately give equal access to banking institutions, even to those living in the remotest portions of the world. Senior Vice President of IBM Industry Platforms, Bridget van Kralingen added that,“With the guidance of some of the world’s leading financial institutions, IBM is working to explore new ways to make payment networks more efficient and transparent so that banking can happen in real-time, even in the most remote parts of the world.”

The list of financial institutions that would be participating are primarily located in the Pacific Islands, Australia, and New Zealand. Rizwan Khalfan, EVP and Chief Digital and Payments Officer of TD Bank spoke positively about the ways that this technology will help the region:

“We’re focused on innovation that adds value for our customers and our business, and blockchain presents a tremendous opportunity to transform and enhance payment systems, enabling us to continue to evolve the products and services we can offer.”

Other institutions that will be invited to participate in the exchange process include; Banco Bilbao Vizcaya Argentaria, Bank Danamon Indonesia, Bank Mandiri, Bank Negara Indonesia, Bank Permata, Bank Rakyat Indonesia, Kasikornbank Thailand, Mizuho Financial Group, National Australia Bank, Rizal Commercial Banking Corp. (RCBC) Philippines, Sumitomo Mitsui Financial Group, TD Bank, and Wizdraw (HK) of WorldCom Finance.

Collaboration with KickEx and Stellar

As KlickEx has been responsible for working with underdeveloped payment corridors, most notably those in Oceania, they will bring a wealth of experience to this growing market. Robert Bell, the founder of KlickEx Group, created his company for this exact purpose and only sees the integration of Stellar’s blockchain technology as a revolutionary development in the remittance business. Bell confirmed that “Through KlickEx, the Pacific has had relatively low-cost, real-time, multi-currency payments for most of the past decade, and this project was a natural next step following our work to create seamless and borderless payments across the Pacific. We look forward to the results with using IBM Blockchain as we continue to push forward with our mission to remove payment friction across borders.”

Outside of blockchain initiatives, the UN-funded group has also been working to empower communities through lowering the barrier for accessing institutional grade banking products. Thus they have been named as having a considerable effect on economic stability and domestic digital inclusion by Central Banks in the Pacific.

Naturally, the expertise of Stellar also fills a supplementary function to the greater project. The silicon valley startup developed a free, open-source network that connects diverse financial systems while allowing every agent access to mainstream financial services. Through the Stellar network, businesses, banks, and consumers all benefit from lower costs. Following the collaboration with IBM and KickEx, these lower costs will also be augmented with higher speeds.

The co-founder of Stellar, Jed McCaleb, explains that this innovation will send the entire industry further the changing landscape of remittance markets. McCaleb reported that:

“For the first time, public blockchain technology is being used in production to facilitate cross-border payments in multiple integrated currency corridors. Currently, cross-border payments take up to several days to clear. This new implementation is poised to affect a profound change in the South Pacific region, and once fully scaled by IBM and its banking partners, could potentially change the way money is moved around the world, helping to improve existing international transactions and advancing financial inclusion in developing nations.”

Stellar’s cryptocurrency Lumens spiked massively on the announcement and has held its head above water, maintaining its pirce level around $0.04 (shown below).

The promise is certainly appealing, but many critics have already spoken out against lack of market need in remittances. In a piece written on October 17, SaveOnSend countered sensationalized arguments for applying blockchain technologies to international money transfers. The main counter-argument being that unbanked individuals are not actually in desperate need of an affordable solution. The article identifies the successful market share that Western Union already achieves by pointing out that, “On the receiving end of remittances, being unbanked is not a significant inconvenience or cost issue. With around 550,000 Western Union’s agent locations, money could be easily picked up by the great majority of such unbanked recipients (30 percent of those locations see NO remittance activity).”

However, a large portion of remittance startups lacked the fundamental experience of international money exchanges. In 2015, while these same startups touted the advantages of aiding the unbanked, the target audience was typically a digitally fluent and well-off market slice. Therefore, the proposal by IBM, KlickEx, and Stellar may be a more accurate and experienced response. The three companies combine regional experience, affordability, low barriers to entry, and perhaps the most important, a global scalability. From this light, the Blockchain from 2015 looks a lot different than the Blockchain in 2017.

The post IBM, KlickEx, and Stellar Set Out to Speed up International Finance appeared first on BTCMANAGER.

Play2Live: The Future of eSports, Gaming, and Crypto Entertainment

Tue, 10/17/2017 - 14:51

Take a look at websites like Twitch, Youtube, or Own3d, and you will see it; gamers are everywhere. Occupying a 105 billion dollar market share, have become so popular, that they have surpassed film to become the world’s number one way to be entertained.

The way people seek entertainment has changed forever, while, as we all know, the blockchain is changing the way people spend money. The economy is becoming decentralized, and payments are becoming more secure and transparent. The new, blockchain-based, video game streaming platform, Play2Live, intends to get in on the revolution, bringing eSports together with the cutting-edge in blockchain technology.

The following is a brief overview of the project.

eSports: The Future of Entertainment

Gamers love playing games, but they might like watching them even more. The eSports industry has already seen the rise of a number of gaming celebrities and millionaires, and viewership already is much higher for video game tournaments than for many traditional sports.

Unfortunately, eSport streaming sites, like the ones listed above, have one major fault; they lack an effective platform for interaction between players and viewers. Fans are dying to be able to get in touch with their favorite players, and take part in the game on a deeper level, but at the moment this is impossible.

That is, until now. A group of eSport experts, with years of experience developing tech for the industry, have come together to find a solution. They have conceptualized the Play2Live (P2L) platform, the first decentralized streaming platform for gamers and eSports fans.

By integrating the blockchain into video game streaming, P2L is making interaction between gamers and fans easy, and making gaming even more fun and entertaining for everybody. On the business side, P2L is monetizing game streaming and creating an entire infrastructure for fans to spend money in order to interact with their favorite players.

The Play2Live e-marketplace and Platform

At its base, P2L is an e-marketplace, operating using a blockchain-based token – the Level Up Coin (LUC), and a streaming platform, enabling access to various video sharing services.

The marketplace enables the ultimate in interaction between gamers and their audience. Gamers can use the platform to build and maintain a fanbase, and make money doing it. Viewers can spend LUC to interact with players, and earn it by creating new streams and getting votes. The more positive votes, the more LUC earned.

For fans this is a revolution. They will be able to use coins to pay for interactions with their favorite players. It will be possible to make specific requests, or choose from players’ custom-made options. For example, if fans want to see a player switch from “difficult” to “hard” mode on a game, they could give the player LUC in exchange for doing so. Fans can get together and form a crowdfund to pay for the content that they want to see.

There are lots of the other ways for players to earn LUC, such as by selling advertisements or taking donations. Eventually, the platform will support the placement of bets by viewers of eSport tournaments.

What Blockchain Integration Means

All the innovative features of P2L are made possible by the blockchain, a decentralized technology that renders transactions secure, transparent, and convenient.

Since P2L is built using Graphene blockchain tech, these transactions will go at light-speed, 100,000 TPS, hundreds of times faster than Bitcoin and Ethereum transactions.

P2L is able to keep fees low and services functioning at a high level because of its blockchain integration. The Level Up Coin is set to one day become the top currency in the gaming industry.

The Upcoming Crowdsale

The Pre-ICO for the LUC token will start on November 20, and go until November 26. The ICO will begin December 4 and end December 10.

Your chance to get in early on the project starts soon! For more information visit www.play2live.io?utm_source=rss&utm_medium=rss, or follow us on various bitcoin-oriented media sources. 

The post Play2Live: The Future of eSports, Gaming, and Crypto Entertainment appeared first on BTCMANAGER.

Playkey: A Blockchain-based Cloud Gaming Platform

Tue, 10/17/2017 - 10:18

Cryptonomos is a solution provider for blockchain-based crowdsales that is now launching an ICO for a new cryptocurrency project which is striving to be the future of gaming.

Playkey.io is the new project launching the ICO. Playkey is presenting a unique approach to virtualization and cloud gaming with payment tiers that determine stream quality, the ability to play games by either purchasing them from Playkey or making use of your own Steam game library.

Playkey is trying to offer a new method of playing games without the need of minimum hardware requirements as it plans to deliver a gaming cloud service that enables games to be played via streamline. The goal is to provide gamers with a reasonably-priced opportunity to play top-rated games anytime and anywhere, using any device connected to the Internet, without having to purchase a Gaming PC or console.

The Future of Gaming

The development of GPUs, the Internet, and low-latency streaming have diminished the demand for personal gaming hardware. In fact, it has done so that the next generation of consoles might well be the last one that is based on hardware. Moving gaming into cloud technology has now become inevitable; 70 percent of Steam players are unable to play top titles like GTA V in high resolution, and 30 percent of players cannot even run such titles on their obsolete PCs. The demand for latest-generation hardware and the increased requirements from gaming caused by resource-intensive VR technologies will make home hardware more and more expensive and non-viable for casual gamers.

Sensing the big changes that lie ahead and following the trend of video, music and other services, Playkey is determined to introduce the next gaming revolution by moving gaming into the cloud. This will bring massive benefits for gamers, as it will allow cheaper access to games. Given that cloud gaming can deliver gaming services ten times cheaper than owning a personal gaming hardware, the project expects to see an exponential growth in users in the short term, leveraging that way the sharing economy principles.

What is Playkey?

Playkey, a leading cloud gaming provider, is contemplating an ICO with the intent of exponentially accelerating the pace of cloud gaming development through decentralization. The team believes the revolution of cloud gaming has just started, but there are still some hindrances. For instance, the complicated process of game streaming software development and getting approval from game developers and publishers to use their game titles on cloud platforms or even the high cost of hardware namely professional GPUs, server equipment, data storage equipment, that the industry needs to face. Playkey is set to solve all of this by introducing proven blockchain technology.

The company mission is to leverage the cloud gaming revolution by introducing decentralization during the early stage. This will provide a decentralized ecosystem with a core platform for miners and gamers, based on blockchain technology, which allows private/professional GPU owners with a new source of income. GPU owners will be providing their resources to the network as if it was mining, meaning that they will be compensated by their participation in the network.

According to the project’s whitepaper, gamers can play any game they wish, on any device connected to the Internet, using a decentralized cloud model, by leveraging the existing proprietary technology, product, and business of Playkey. The company will be providing all of this in a way that is more efficient, stable, and less risky than crypto-mining while providing gamers with an affordable way to enjoy their hobby. Playkey’s ambition is to also create the world’s largest platform and marketplace for all hardware providers, gamers and other participants in the emerging industry of cloud gaming.

Playkey has a team of 45 experienced R&D specialists and collaborates with leading game publishers including Ubisoft, Bethesda, and Wargaming. The company counts with a network of 120 Nvidia Grid powered servers based in London, Frankfurt, Amsterdam and Moscow, and is backed by a large European VC fund as well as boasting Deloitte as its legal partner.

Playkey currency

PKT is the cryptocurrency used to buy and sell cloud gaming subscriptions as well as other Playkey services and future products. Serving as the unit of account for all economic transactions within the Playkey Ecosystem, PKT will be used as a basis for interaction with other digital services.

PKT is characterized by a fixed-supply, divisibility and, in the long-term, non-inflationary. PKT will be implemented on the public Ethereum blockchain in accordance with the ERC20 (Ethereum Token Standard). Any token implemented according to the ERC20 standard is compatible with the existing infrastructure of the Ethereum ecosystem, which allows for quick and easy implementation. Advanced functions and high activity within the Ethereum ecosystem make it the most suitable for issuing PKT.

One of the main functionalities of PKT is also for transactions between miners and gamers, and for purchasing gaming software.

Playkey Foundation

Playkey Foundation is a management company within the Playkey Ecosystem, which will direct and fund the development of tools that give ecosystem partners the ability to build, grow, and create value for one another.

The Playkey Foundation will be responsible for increasing the platform’s popularity, managing the key rules of the ecosystem, and developing a core strategy. The primary goal of the Foundation is to develop an open gaming ecosystem that users can find value in, and simultaneously supply miners (and other service carriers) with an open and sustainable platform to broaden, deliver, and enhance those services, as well as attract users. The Foundation’s responsibilities include managing the Playkey Company and financing it for software development needs.

The ICO

The PKT issuance and distribution during the ICO is set up with a volume of 100 million PKT tokens to achieve the following goals; integrate blockchain technology into the Playkey gaming service; develop a decentralized, resource-sufficient, safe and fast P2P game streaming solution, where miners can provide their powerful resources to the gamers; and finally, to reach 10 million active players in the USA, EMEA, and APAC regions

The ICO will commence on November 1, 2017 and the Pre-sale is ongoing until October 25, 2017 where a bonus of 20 percent is available. For additional information, you can visit the company’s official ICO site.

The post Playkey: A Blockchain-based Cloud Gaming Platform appeared first on BTCMANAGER.

Binary.com Announces Initial Coin Offering (ICO)

Tue, 10/17/2017 - 09:07

Binary options pioneer is offering digital tokens that grant dividend-linked payments through its “IPO on the blockchain”

Binary.com, the pioneer in online binary options trading, today announced it will be performing an Initial Coin Offering (ICO) that gives potential investors an opportunity to invest in the company’s future. Binary.com is offering up to 10 million digital tokens through its ICO, all of which will be available through an open auction on its website.

By purchasing the tokens, investors are granted exclusive token holder rights. These rights entitle them to receive payments equivalent to shareholder dividends, as well as convert tokens into ordinary shares.

“The next step for a company of our size is naturally to go public by means of an Initial Public Offering (IPO). However, an IPO in itself is a cumbersome process that’s remained relatively unchanged for decades. Some would say it’s ripe for disruption,” says Binary.com Founder & CEO, Jean-Yves Sireau.

“By opting for the ICO route, a kind of ‘IPO on the blockchain,’ we can go beyond the limitations of a traditional IPO. We get a wider reach of potential investors, lower costs of trading and an immutable audit trail of transactions on the blockchain. Through the ICO, we can also establish our trading services among the cryptocurrency community, which is a prime target demographic for our platform,” adds Sireau.

Binary.com’s ICO, or token sale, will be conducted through an electronic Dutch auction process on its website where the price of each token is determined through a bidding process. The ICO is expected to launch in Q4.

In preparation of its ICO, Binary.com enhanced its existing cashier system to support cryptocurrency denominated accounts that allow its clients to deposit, trade and withdraw funds in Bitcoin, Litecoin, and soon Bitcoin Cash and Ethereum. This means that potential investors can also bid on the tokens using these cryptocurrencies.

Binary.com has also reached an agreement to list its tokens post-ICO on the Lykke.com Exchange; a global cryptocurrency marketplace where various financial instruments can be traded and exchanged against each other, whatever their asset class or transaction size.

The Binary.com ICO is only available to residents of selected countries. In some countries, prospective investors are required to verify their status as qualified or professional investors. The ICO is not available to U.S. investors. To learn more, visit https://ico.binary.com?utm_source=rss&utm_medium=rss.

About Binary.com

Binary.com (formerly BetOnMarkets.com) is the pioneer in online binary options trading. It was launched in 2000 to make binary options easily available to retail investors worldwide. Before the emergence of Binary.com, binary options were typically traded in large quantities by large financial institutions and hedge fund firms.

In 2016, Binary.com branched into Forex and CFD trading through the adoption of the MetaTrader 5 (MT5) multi-asset trading platform. In the first half of 2017, Binary.com introduced several digital currencies to the list of tradable instruments on MT5.

For more information, please visit: https://ico.binary.com?utm_source=rss&utm_medium=rss

The post Binary.com Announces Initial Coin Offering (ICO) appeared first on BTCMANAGER.

WikiLeaks Bitcoin Donations Skyrocket: Assange Thanks U.S. Government

Tue, 10/17/2017 - 08:29

In his book, Cypherpunks: Freedom and the Future of the Internet, Julian Assange, editor-in-chief of and visionary behind WikiLeaks, the international non-profit organization that publishes secret information, news leaks, and classified media provided by anonymous sources, argues that as “entire societies move online, mass surveillance programs are being deployed globally.”

The underlying theme of his message involves encryption, the notion that it’s easier to encrypt information than decrypt it. As he remarks in his book:

“If we do not (protect humanity from these surveillance efforts), the universality of the internet will merge global humanity into one giant grid of mass surveillance and mass control.”

Following WikiLeak’s massive release of secret U.S. diplomatic information in November 2010, the US government forced third-party payment processors  like Bank of America, VISA, MasterCard, PayPal and the Western Union to stop supporting donations to WikiLeaks in December of that year.

As a result, WikiLeaks decided to circumvent this blockade by accepting bitcoin as its primary form of payment. And as reported by BTCManager earlier in 2017, WikiLeaks elected to add the privacy-focused cryptocurrency zcash to its cache of payment options.

While WikiLeaks decision to accept cryptocurrencies definitely raised a few eyebrows, it has turned out far more handsomely than Assange and his team may have imagined. This fact is supported by the recent revelation that site donations utilizing bitcoin since 2010 have yielded a 50,000 percent return to date.

Now WikiLeaks is arguably a strong proponent of bitcoin and cryptocurrencies. In fact, in an October 14 tweet on the social messaging site Twitter, Assange commented:

“My deepest thanks to the US government, Senator McCain and Senator Lieberman for pushing Visa, MasterCard, Paypal, AmEx, Moneybookers, et al., into erecting an illegal banking blockade against @WikiLeaks starting in 2010. It caused us to invest in Bitcoin — with > 50000% return.”

Because bitcoin became their primary means of accepting donations, Assange and his team reportedly started investing in it as well. Given the fact that bitcoin is global, censorship-resistant, can’t be controlled by financial institutions, central governments, or other third-parties, it appears to be a perfect match for the WikiLeaks model.

At the end of the day, bitcoin is proving its sustainable worth through high-profile organizations like WikiLeaks. As a result, it will be fascinating to witness the future trajectory of this king of cryptocurrency. In the meantime, Assange and his group of cohorts are undoubtedly glad that they were forced into to using it.

The post WikiLeaks Bitcoin Donations Skyrocket: Assange Thanks U.S. Government appeared first on BTCMANAGER.

TokenDesk: A Guide to Attract Investors

Tue, 10/17/2017 - 06:00

Just recently TokenDesk entered an exclusive club of successful ICOs by selling out all three million. tokens on their pre-ICO campaign. This was a huge leap forward for a company which aims to reshape the existing ICO market by bringing a revolutionary platform.

Dubai is Digging it

The platform is now being developed as the start of their ICO was more than promising. The global blockchain community expressed high interest in the project which promised to deliver more stability, security and reliability in this digital Wild West. 

Currently the market is nearly exploding with high number of ICO‘s suggesting to decentralize a wide variety of online services. Many of those are promising and will certainly bring a long-needed change to the world.

One of the best examples to understand the perspective of blockchain is to look at Dubai. Last week, the government officials announced that all real estate data will be stored in a secure, blockchain-based platform. It is currently under development and will be introduced to the wider public in around a three-year period. It will allow to process all sorts of operations by an individual, anywhere in the world. This will eliminate a need to visit a physical entity of any governmental institution.

A Smart Move

TokenDesk reached its success by utilizing a new strategy for its ICO. When an ordinary ICO starts most of its supporters and investors make direct contributions. This is the generally the most popular way to develop any crowdfunding campaign.

However, there is a different path that could be taken to ensure noticeably greater results. In cases of Kickstarter or Indiegogo campaigns, as an example, everything goes well with such strategy as there are no obstacles in financing any of those. When we speak about an ICO – it‘s a different story. Regardless the amount of media coverage that is now focused on blockchain technology, the actual number of people and investors who participate in them is of a tiny fraction to compare with the hard currency and financial markets.

Understanding this, TokenDesk took it to the higher level by partnering with some ICO enthusiasts in India. Their task was to introduce TDS tokens to investors and general public, to those who don‘t usually invest using cryptocurrencies but use more traditional ways instead.

The idea of such paid off greatly as India became the third country after United States and United Kingdom to invest in TokenDesk.

ICO Continues

Even though the ICO of TokenDesk started with a boom, the company is ready to develop further contacts from all over the world to ensure successful development of their revolutionary platform. It is even more important to spread the knowledge to all interested in blockchain technology and opportunities lying in it.

Being an ICO partner of TokenDesk ensures attractive incentives to both partners and investors. It is a rare opportunity to get into such influential global project and partners are gathering from all over the world to take a piece of action.

Interest from Taiwan

“It is a pleasure to represent TokenDesk in Taiwan,” says Christopher Shen, the advising partner in one of the most promising regions in Asia.

“My team and I have been working with Blockchain related projects for several years now and it is truly remarkable to see how far the market has gone during this considerably short period of time. By doing the strategic sales development for such projects, I have an access to the most innovative investors and groups of blockchain enthusiasts in Asia.”

“TokenDesk is one of the few projects to which I see as a tool to bridge traditional investors into the crypto market. I believe in success as the market hasn’t got anything like it yet. And it needs it,” stated Christopher.

TokenDesk ICO facts

By the end of the second week, it’s been almost four million tokens sold in the ICO. Investors from 126 countries supported the TokenDesk project bringing over $4 million.

The top three countries bearing the major share of investments are the US, UK and India. Not surprisingly, leading financial instruments used to fund TokenDesk the most – are cryptocurrencies – with bitcoin and ether amounting to over 80 percent of all investments.

TokenDesk is launching their alpha version of the platform even before the end of ICO. It is planned to show the first important stages of development in the middle of November. Having in mind the fact that their ICO ends just before Christmas, it might be the greatest present this year will bring us.

The post TokenDesk: A Guide to Attract Investors appeared first on BTCMANAGER.

Older Video Streaming Platforms Challenged by New Blockchain-based Applications

Mon, 10/16/2017 - 20:33

There’s no doubt that videos have become the prime content choice on the internet. Videos showing everything from spectacular fails to music covers can garner millions of hits in a short time. Overall, a staggering 70 percent of all internet traffic is devoted to video streaming, and experts predict that the percentage will go even higher over the next few years. This is a perfectly logical assumption as download speeds continue to get faster and faster. This rise in technological innovation can also be seen in the rise of new applications, such as MakeItViral (MIV), Flixxo, and VirtuTV, that are using the capability of blockchain technology to alter the landscape of online video distribution and consumption.

The New Video Streaming Kids on the Block

The benefits of blockchain technology are being used by several new platforms that seek to topple the old YouTube dynasty of video streaming. Of these, VirtuTV offers to bring unbridled democracy to social video distribution with their platform. Content creators can freely upload any work that they wish and even remain fully anonymous. Creators are supported by users who use the platform’s Patreon-like system to make donations or even sign up for a regular subscription. However, this freedom does come with a price. Nothing is prohibited, which means illegal movies, shows, and other videos could be uploaded. This could have a major dampening effect on advertisers, who will want to steer clear of any illegal activity. Plus, video content uploaded to VirtuTV could be considered illegal in certain jurisdictions.

Flixxo uses blockchain technology to allow content creators forge smart contracts. These contracts contain the cost for viewing the video but also the percentage of revenue given to users who seed the content on the BitTorrent peer-to-peer network. This p2p approach reduces storage costs to nothing and provides an incentive for users and creators to actively support each other. Advertising is also not intrusive as users seek out ads to watch, which then rewards them with tokens to use to watch more videos. However, there is some oversight on Flixxo as no illegal or pornographic videos will be allowed to be uploaded. This could be seen as a form of censorship by some segments of the internet, which could cause them to look elsewhere for a streaming video platform.

MakeItViral (MIV) uses ranking as the basis of their application. After a content creator uploads their video to the platform, that video is then ranked by the number of tokens users donate to it. The overall goal is to ensure that quality videos make their way to the  top of the list and are easily seen as users will reward such content. Such a system removes the paywall barrier that other platforms put into place, but there are some possible drawbacks to consider. It’s not a given that users will donate tokens to support a quality video, which means that such videos could easily fall down the ranks and languish in obscurity. This could be seen by how many likes and views a video of a cat playing a keyboard will rack up in comparison to one featuring a talented, but not famous, singer. The tastes of the internet crowd can be hard to fathom at times, and it’s likely that the top ranked videos on MIV will be those of the viral variety.

YouTube is the Past

It is true that YouTube is the current king of online video streaming. There’s a wide range of content to be found, and millions of videos are uploaded every month. For all its supposed size and strength, YouTube is becoming a hollow shell of itself as it’s mired in old technology and refuses to innovate. The site stores its own videos, causing extreme costs to be incurred. This is why the lion’s share of any advertising on YouTube goes into the pockets of YouTube and not those of the actual content creators. Then there’s the fact that a creator can spend years building up an audience and creating a nice revenue stream from their channels, only to have all of that taken away in an instant if YouTube changes their rules. A lot of creators are openly saying that YouTube is censoring certain viewpoints as the company arbitrarily demonetizes or removes videos entirely. A YouTube video could generate millions of hits, but the creator of that video could wind up earning just a paltry few dollars or even nothing at all.

The paradigm of online video streaming is set to be dramatically altered in the near future. The potential of blockchain technology and peer-to-peer file sharing networks is allowing the rise of new platforms, such as VirtuTV, Flixxo, and MakeItViral. The smart contract enabled by the blockchain ensures that money actually flows into the hands of content creators and not just some corporate entity. Sites like YouTube are fast becoming the dinosaur of the internet as power is being put into the hands of users and creators in the form of new online video distribution platforms.

The post Older Video Streaming Platforms Challenged by New Blockchain-based Applications appeared first on BTCMANAGER.

Bitcoin Hits New All-time High as Hard Fork Approaches: BTCManager’s Week in Review October 16

Mon, 10/16/2017 - 20:02

On Sunday, October 15, the price of bitcoin hit a new all-time high of over $5,850 as bitcoin buyers are unfazed by the risks stemming from the upcoming hard fork.

Bitcoin rallied by over 27 percent in the last seven days, demonstrating its resilience against opinions about the digital currency’s potential bubble status as well as the regulatory restrictions on cryptocurrency trading and issuance in China and other jurisdictions. Not even fresh comments by bitcoin bashing JPMorgan CEO Jamie Dimon could do anything to disrupt bitcoin surge to new highs this week.

With the new all-time high, bitcoin has also reached a new peak in market capitalization of over $95 billion and, thereby, surpassing the value of investment banks Goldman Sachs and Morgan Stanley.

The rise in bitcoin’s value has also cemented its position as the number one digital currency in the market, and its dominance is at over 54 percent at the time of writing. Due to bitcoin’s clear first mover advantage and growing global brand awareness, it is unlikely for “the flippening” to happen anytime soon.

Altcoins such as ether (ETH), litecoin (LTC), and monero (XMR) also received a boost. The remainder of the altcoin market moved largely sideways and did not benefit from bitcoin’s sudden surge.

This week’s review is compiled from contributions by Christoph Bergmann, Joseph Young, and Samuel Town.

Russian Central Bank Pivots on Cryptocurrency Stance, Endorses Crypto-ruble

The Russian Central Bank has recently indicated that it is currently considering launching a national cryptocurrency following First Deputy Prime Minister Igor Shuvalov’s support for introducing a “Crypto-ruble.”

Olga Skorobogatova, deputy chief of the Bank of Russia, has recently made statements at a press conference for the Finopolis Forum of Innovative Financial Technologies in favor of creating a Russian national cryptocurrency. In the announcement, Skorobogatova indicated that “the creation of a national cryptocurrency stimulates the growth of non-cash payments and electronic payments, including, possibly, cross-border payments.”

Skorobogatova’s statements echo her earlier comments at the St. Petersburg International Economic Forum in June this year, in which she remarked that Russia desires to “jointly test blockchain for cooperating with EU countries on the projects we’re going to start this year.”

Bitfinex Launches Trading with Futures on SegWit2x Fork and Announces new Ticker Symbol

As the first exchange to address SegWit2x, Bitfinex explained how it would deal with the upcoming hard fork; legacy Bitcoin will keep the ticker symbol BTC while the SegWit2x coin will get the symbol B2X. At the same time, Bitfinex launched the trading futures for the two bitcoins which might be a product of the fork.

Bitfinex feels obliged to maintain the trading 24/7. The exchange can’t afford to halt trading and wait until it is clear which chain is the winner of the fork. So it will list the fork as a new asset. The existent bitcoin – Bitfinex calls it “incumbent” – will furthermore be listed with the ticker symbol BTC, while the new Bitcoin – SegWit2x – will get the symbol B2X. This will even be the case when B2X has more hash power.

Bitfinex says this will be done for pure pragmatical reasons. Politics don’t play any role in this decision. This might be true, or it might not be true. But it doesn’t eliminate the massive and far-reaching political implications of the decision; by giving SegWit the BTC symbol, Bitfinex will treat SegWit2x, the coin which has the support of more than 90 percent of the miners, as an altcoin.

Air France Tests the Blockchain to Trace Aviation Supply Chain

Air France KLM, the holding company of one of the largest airlines in the world, is set to test blockchain technology and decentralized applications to automate its aviation supply chain.

At a webinar participated by Microsoft and software company Ramco Aviation, Air France KLM business unit director of innovation James Kornberg revealed the company’s plans to investigate the potential of blockchain technology and the use cases of the decentralized technology in sustaining aviation supply chains.

Kornberg emphasized the use cases of blockchain technology must be realistic enough for the company to pursue the phases of implementation and commercialization. He noted that in the upcoming months, the Air France innovation department would focus on testing the four advantages of blockchain technology in resilience, traceability, integrity, and disintermediation.

BitGo Engineer: SegWit2x Replay Protection Considered as a “Type of Attack on Bitcoin”

Earlier this week, in an analytical column entitled “How SegWit2x Replay Protection Works,” Bitcoin developer and Paxos principal architect revealed the motive behind the development team of SegWit2x to integrate opt-in replay protection rather than strong two-way replay protection as the Bitcoin Cash development did in July.

In his analysis, Song noted that replay protection prevents attackers from creating duplicate transactions on a new blockchain network that is created upon the occurrence of a hard fork. For instance, if the fork to a 2MB block size occurs without replay protection, hackers will be able to take public transactions between two wallets processed on the Bitcoin blockchain and create identical transactions on the SegWit2x blockchain.

Song explained: “Opt-in replay protection means that transactions from chain X need to do something special to be invalid on chain Y. That is, by default, transactions are exposed to replay attacks, but if you manipulate your transaction in a certain way, the transaction won’t be valid on chain Y. Opt-in replay protection is more like a door you have to remember to lock, because otherwise the transaction may escape chain X and get into chain Y.”

Ahead of its November hard fork, developers behind SegWit2x led by former Bitcoin Core developer Jeff Garzik have implemented opt-in replay protection instead of strong two-way replay protection, which Bitcoin Cash executed prior to its fork.

The post Bitcoin Hits New All-time High as Hard Fork Approaches: BTCManager’s Week in Review October 16 appeared first on BTCMANAGER.

Pages