Dub 30

Blockchain Platform Emercoin is Moving Beyond Cryptocurrencies

Source: bitcoin

Emercoin

Though cryptocurrencies have received much attention with the rise of Bitcoin, what has resulted in more excitement and utility for real businesses has been what is possible using the underlying technology of cryptocurrencies, the blockchain. The team at Emercoin have matched creative ideas for what blockchain solutions are capable of to comprehensive technical approaches for solving issues surrounding current, centralized models of commerce.

This article was provided by the Vanbex Group.

CEO of Emercoin, Evgeny Shumilov, reflected on the origins of Emercoin, stating:

“I am often asked why EmerCoin is so named. It is from the word ‘emergence’ — signifying the emergence of new properties in the system, more than the sum of its components. This fusion, synthesis, evolution.”

As a leader in blockchain-based network security solutions, and worldwide Public Key Infrastructure (PKI), Emercoin has focused on three areas they feel they can add the most value: the workings of the Internet, online advertising and legal verification practices.

Emercoin: A Versatile Currency

Founded by Shumilov in December 2013, Emercoin was established as the currency for a variety of internet projects including social networks, research projects, networking, and gaming, as well as supporting and sponsoring high-tech projects such as robotics, electric vehicles and submersibles.

Shumilov recalls some of their earlier innovations leading to applications in streaming content.

“At that time, we offered the library for streaming content payment in SIP telephony. We hoped that the counterparties will be able to exchange traffic and money at the same time,” said Shumilov.

“Perhaps this method [was] ahead of [its] time, telephone operators were skeptical. It’s a pity. After some improvements, our library allow[ed] you to make money on any type of streaming content.”

As the company developed they moved into solving what they saw to be more pressing and addressable challenges in the space of decentralized blockchain services within the Emer platform.

Now, Emer is a platform that offers two primary product umbrellas, a blockchain-based platform for a variety of of services including security, advertising, and legal. It is also a payment services unit in Emercoin which also runs through the Emer platform.

 

While the name Emercoin might be recognizable from the standpoint of being a cryptocurrency used to send and receive payment and is ultimately tradeable, it is just a piece of what makes the Emer platform so valuable in the services it offers and the problems it can solve.

For developers seeking to build products or solutions based off of the Emer platform, they’ve provided a quick-start guide for deploying an Emercoin wallet on an Ubuntu instance within Microsoft Azure.

Considering other high profile blockchain-based companies have been given direct access to develop through the Azure virtual environment, Emer is in good company with developers doing serious work with serious technology.

This move is integrated into the “Blockchain Engine” project, designed to easily integrate blockchain innovations into existing businesses and startups.

Making Distributed Internet Possible

In a centralized world, Domain Name System (DNS), Secure Shell (SSH) and Secure Sockets Layer (SSL) services are often offered by default by domain name registries or hosting companies.

They all offer pretty much the same features and weaknesses. Despite many hosting and domain companies being well-guarded from an IT perspective, they are still subject to DDOS attacks and even governmental influence.

For a company operating within a region of the world that might be subject to censorship or attack from hackers, a decentralized platform for a DNS, SSH and SSL is a saving grace.

The company HashCoins uses Emer’s emcSSL/emcSSH technologies to manage their distributed mining pools. Even websites blocked by regional governments are able to operate without interruption using the distributed Emercoin DNS systems.

Blockchain for Legal Records and Verification

Digital proof-of-ownership is just one example of what the Emer platform offers to merchants who are looking to both scalably and transparently store records of both digital and physical assets on the blockchain.

From a resolution of land title disputes between law offices to licensing associated with anything from streaming video services to anti-virus software subscription, the Emer platform helps manage these processes.

In addition, the verification of these records is much simpler to access and complete using the Emer platform as all records are kept securely and accurately on the blockchain.

This can lower costs and the time spent both from a customer perspective and from the lawyer’s perspective, removing the need to deal with physical documents to complete routine transactions.

Blockchain for Advertising

One problem for several websites is online advertising, a key source of revenue, and managing payment models with advertisers.

Both ContextOne and Advendor use emcLNX as basic technology for their ad-tech businesses which allow them to more efficiently manage contracts between advertisers and publishers and the delivery of traffic or clicks between them.

Using decentralized blockchain ledger technology through Emer, the often mysterious space between publisher, advertisers and the middleman has been bridged.

Users will no longer need to deal with the limitations of Adsense, which requires a minimum of $100 in ad revenue to withdraw and a bank account to withdraw into.

This is especially attractive with the concept of Emercoin, which is a currency capable of exchanging payment between parties participating in the ad network.

With an eye towards innovation, Emer and Emercoin are also looking to use their blockchain technology to move into the area of streaming content online.

By using a decentralized, peer-to-peer payment model, users could pay through their browser for the exact amount of content that want to consume.

No ‘Pump-and-Dump’ Coin

Chief marketing officer at Emercoin Stanislav Polozov spoke on how he sees Emer playing a role in the future of blockchain technology.

“We want to be in the market for a long time and provide a bunch of services. We’re not a pump-and-dump coin.”

Polozov added, “VPN peer to peer connections — any protocols for that matter — can be made absolutely safe using blockchain. We will build on other protocols if enough people need them.”

“If people demand a solution, we will create it using Emer. Emer blockchain based solutions and products are bricks for people to build their own distributed structures.”

The team at Emercoin continues to focus on the fusion of their technological applications to real-life problems. The synthesis of new ideas and the evolution of the platform expand the realm of what is possible with blockchain and this will only continue to grow.


Images courtesy of Emercoin.

The post Blockchain Platform Emercoin is Moving Beyond Cryptocurrencies appeared first on Bitcoinist.net.

Blockchain Platform Emercoin is Moving Beyond Cryptocurrencies

Share
Dub 30

OpenLedger Strikes Gold: DigixDAO Asset Trading Now Supported

Source: bitcoin

OpenLedger DigixDAO

Cryptocurrency exchange OpenLedger has added gold-backed crypto-token DigixDAO asset (DGD) to it’s list of supported tokens. Now, users can trade DGD for ether, bitcoin and all other digital assets supported by OpenLedger.

Disclaimer: This article was provided by Bitcoin PR Buzz. Bitcoinist is not affiliated with the firms represented by Bitcoin PR Buzz and is not responsible for their products and/or services.

DGD is branded as “a gold standard of cryptocurrency.” Each token is “hedged against a specific amount of real gold stored in the company’s [DigixGlobal] reserve.”

The crypto-token works like any other cryptocurrency, enabling users to transact in “digital gold” across the DigixDAO platform. Each DGD token represents ownership over 1 gram of real gold, which has been recognized as a reliable store of value for centuries. Furthermore, each token is “highly divisible,” which CCEDK says will allow people “to buy and transact as less [sic] as one-thousandth of a gram of gold.” The DigixDAO platform charges a a 0.13% fee on each DGD transaction, and users can redeem their tokens for the equivalent in gold on demand.

DGD coin trading launched on April 29, 2016, and currently can only be purchased with ether, the token fueling the popular Ethereum platform.

CCEDK says that that DGD is a “perfect fit” for its OpenLedger exchange,” since DGD trading is made possible on OpenLedger’s platform specifically designed for Ethereum-based assets.

Although DigixDAO currently uses OpenLedger’s Ethereum Assets listing feature for the DGD coins, it plans to independently list the tokens as DGX on OpenLedger in the future.

About OpenLedger

OpenLedger is a decentralized financial crypto-platform created by CCEDK, a well-known Danish cryptocurrency exchange. It allows users to covert bitcoin to fiat pegged SmartCoins which can then be withdrawn in multiple ways. OpenLedger is powered by Graphene blockchain technology, based on BitShares 2.0 MIT License.

About DigixDAO

Digix is an Ethereum based decentralized platform for gold backed peer-to-peer digital assets. The platform leverages upon Ethereum smart contracts and InterPlanetary File System hypermedia distribution protocol to facilitate the creation of transferable crypto assets on the blockchain.

Learn more about Digix platform at:

Learn more about OpenLedger DGD trading on bitcointalk:

Trade DGD with ETH, BTC or any other cryptocurrency at: o Users can also trade DGD with any cryptocurrency they like on OpenLedger’s innovative platform

Read more about DigixDAO and OpenLedger on Forbes at:

To view an introduction video about OpenLedger decentralized smart trading please go to:

The post OpenLedger Strikes Gold: DigixDAO Asset Trading Now Supported appeared first on Bitcoinist.net.

OpenLedger Strikes Gold: DigixDAO Asset Trading Now Supported

Share
Dub 30

Tierion Raises $1 Million for Blockchain Verification Platform

Source: bitcoin

Tierion Raises $1 Million for Blockchain Verification Platform

The blockchain startup Tierion has raised $1 million in a seed funding round to continue developing its platform which verifies the integrity of a file, data, or business protocol through distributed ledger technology. The investment round was led by Blockchain Capital, Fenbushi Capital, and the Digital Currency Group. Tierion says its software gives developers the tools for building applications tethered to the blockchain.

Also read: Industry Report: Kraken, Others Receive Large Investments

Tierion’s Platform Raises $ 1 Million from Blockchain Capital, DCG, and Fenbushi Capital

Tierion had made headlines earlier this year when it partnered with Philips Blockchain Lab to innovate medical data with digital ledger consensus. The company headquartered in Hartford, Connecticut was founded in 2015 by Wayne Vaughan and Jason Bukowski. With the firms Chainpoint software, users can “anchor” millions of records housed within a single transaction on the blockchain. Tierion says, “Blockchain receipts can be shared with other systems and used to independently verify the integrity and authenticity of any file, data, or business process.” All of its processes verify without trusting a third party or relying on centralized arbitration. Wayne Vaughan, Tierion’s CEO and Co-Founder stated in the announcement:

“We’re thrilled with the creative uses we’ve seen for Tierion. At one end of the spectrum, one of the world’s largest healthcare companies is using Tierion to record the maintenance and usage history of industrial medical equipment. At the other end, we’re seeing a legal cannabis dispensary use Tierion to create immutable records of their inventory and transactions.”

The startup says there is a broad range of use cases when it comes to distributed ledger technology, and the company’s software is ready to encompass many of them. The very foundation of Tierion is a scalable engine for cryptographically ensured data so that businesses around the world can anchor with the blockchain. Vitalik Buterin, Ethereum founder and Partner at Fenbushi Capital, says Tierion makes immutable records and proof-of-existence “easy” and believes the company displays an “interesting approach” to anchoring. Another Investor of the project Bart Stephens, Managing Partner of Blockchain Capital explains Tierion’s advantages saying:

“Blockchain technology has tremendous potential beyond payments. Tierion’s platform gives any enterprise easy access to the blockchain to verify any document or business process. This is a powerful tool for companies operating in a regulated environment like financial services, healthcare, insurance, or government services.”

The software Tierion and partners have assembled Chainpoint will allow developers to get hands on with blockchain technology and notarize certain data. The hope is to build an automated and standardized process for enterprise applications meeting both financial solutions and other use cases. Barry Silbert, CEO of Digital Currency Group also believes in the Tierion team and says in the announcement, “We are excited to see the Tierion team leveraging the core innovation of blockchain technology to secure data and ensure it cannot be tampered with. Their open protocol will enable those new to this technology to easily create data management tools to track the history of one of the most valuable assets of any organization – information.”

What do you think about Tierion’s Chainpoint software? Let us know in the comments below.


Images courtesy of Tierion’s Website, and Shutterstock

 

The post Tierion Raises $1 Million for Blockchain Verification Platform appeared first on Bitcoinist.net.

Tierion Raises Million for Blockchain Verification Platform

Share
Dub 30

Business Blockchain Books Project Is Nearing Completion

Source: bitcoin

Bitcoinist_Business Blockchain Books Kickstarter

With all of this focus on blockchain technology these days, there are a lot of questions waiting to be answered. One recent Kickstarter campaign for The Business Blockchain Books successfully reached its goal, and two new blockchain books will be coming very soon.

Also read: Bitcoin PR Buzz Accepts Ethereum for Press Release Services

The Business Blockchain Books Campaign

The person behind this Business Blockchain Books campaign on Kickstarter is William Mougayar, who has been writing on blockchain for quite some time now. In fact, his work has been referenced to in over 100 publications or write-ups over the past two and a half years. This was cause enough for Mougayar to launch a crowdfunding campaign so he could write two new books on how blockchain will impact businesses and everyday life.

Even though this campaign does not herald the first – nor the last book – on blockchain technology, it is kind of interesting to see William Mougayar raise enough funds to write two different books. It is important to take into account both of these books on blockchain will complement each other nicely, and the first one has been completed recently.

The Business Blockchain is an in-depth business book on the concept of blockchain technology, which focuses on explaining how the technology works. Although most cryptocurrency enthusiasts have a decent understanding of what the blockchain is and does right now most general consumers – and enterprises – have no clear idea. Defining the concept is of the utmost importance before we can think of implementing it in various industries.

This is where the second book, called Centerless, comes into the picture. The primary objective of this second book is to explain the aspect of decentralization in the way of trust, information, and wealth. It seems inevitable the blockchain will impact everyone on this planet, and gaining a proper understanding of this technology can prove to be incredibly valuable.

The crowdfunding goal of Business Blockchain Books was US$18,000; due to the high costs associated with writing and publishing these books in e-book format. Additionally, both books will be available in print copy as well, which incurs additional costs. A total of US$37,517 was raised when the campaign ended, which shows a keen interest in these two books revolving around blockchain technology.

Now that book one – Business Blockchain – has been labeled finished yesterday, it looks like interested parties who missed the crowdfunding campaign will be able to place their pre-orders on Amazon soon. The second book will be finished at some point in the coming months, although no official dates have been confirmed just yet. This book will also be available for purchase on Amazon once it is ready.

Did you back this crowdfunding campaign on Kickstarter? Are you planning to buy either of these books from Amazon? Let us know in the comments below!

Source: Kickstarter

Images courtesy of Business Blockchain Books, William Mougayar

The post Business Blockchain Books Project Is Nearing Completion appeared first on Bitcoinist.net.

Business Blockchain Books Project Is Nearing Completion

Share
Dub 29

Bitcoin PR Buzz Accepts Ethereum for Press Release Services

Source: bitcoin

Bitcoin PR Buzz

Expert Bitcoin and blockchain PR firm Bitcoin PR Buzz has announced that they are now accepting Ethereum as payment for all services. The company will also offer a 10% discount on Ethereum-based projects, for a limited time.

Disclaimer: This article was provided by Bitcoin PR Buzz. Bitcoinist is not affiliated with the firms represented by Bitcoin PR Buzz and is not responsible for their products and/or services.

With over 200 clients, including industry leaders such as CEX.IO, BitCasino.io and Bitcoin.com, Bitcoin PR Buzz has served the digital currency community for over 3 years. During this time, the PR firm has helped boost exposure for Bitcoin and blockchain companies by guaranteeing press release publication on leading news sites such as Bitcoinist.net, Bitcoin Warrior, Bitcoin PR Buzz. The company’s clients enjoy exposure on 200-400 other online financial news sites, including Yahoo Finance and MarketWatch. The firm has recently began offering translation services for their clients, allowing their press releases to be published on large, non-English bitcoin news sites in Spain, Brazil, Arabia, Indonesia and Latin America.

The decision to accept Ethereum comes several weeks after the platform’s crypto-token — ether — enjoyed a massive price rally, launching its market cap to second place, right behind Bitcoin. A few of Bitcoin PR Buzz’s clients have recently integrated ether into their platforms as well, including popular exchange CEX.IO.

For a limited time, anyone paying with ETH to promote an Ethereum related project will receive a 10% discount on all services.

Learn more on their homepage at and click here to view a PDF outlining their most popular PR services

To make an inquiry, simply visit or email bitcoin(at)bitcoinprbuzz.com

About Bitcoin PR Buzz

Bitcoin PR Buzz has been proudly serving the Blockchain press release and Bitcoin marketing needs of Digital Currency tech start-ups for 3 years. The team is excited to expand their offerings to include Ethereum PR services.


Images courtesy of Bitcoin PR Buzz, Ethereum. 

The post Bitcoin PR Buzz Accepts Ethereum for Press Release Services appeared first on Bitcoinist.net.

Bitcoin PR Buzz Accepts Ethereum for Press Release Services

Share
Dub 29

Power to the Passenger: Crowdsourcing in the Aviation Industry

Source: crowdfunding/images/resized//article_60711_615x0_proportion.png?1461935609

A team of Chicago-based researchers, led by Northwestern’s McCormick School of Engineering professor Fabián Bustamante, has developed Wi-Fly, a recently launched app created to identify where in-flight Wi-Fi is struggling. The app allows users to measure in-flight connectivity speeds while traveling in the air. “Nobody knows really what the performance is like. Everybody complains, we know it’s bad, but we don’t know how bad it is,” Bustamante said. The crowdsourced data can also be used to improve services that support air-traffic management systems.

SOURCE LINK to the full article: http://apex.aero/2016/04/27/crowdsourcing-aviation-industry

Tags: airasia, airbus, aviation-industry, crowdsourcing, miflight, social-media, wi-fly

Comments

Power to the Passenger: Crowdsourcing in the Aviation Industry

Share
Dub 29

Industry Report: EU Gets Serious, Blockchain Does Healthcare

Source: bitcoin

ECB EU

Want to catch up on the latest digital currency news? Recently, the EU has been making waves in the blockchain space. Take a gander at the stories below to see what you’ve been missing.

Also read: Industry Report: Kraken, Others Receive Large Investments

THE EU

The European Union is getting serious about bitcoin. Digital currency exchange Bitstamp has received an official license from Luxembourg, a little country with some large aspirations, making it Europe’s first fully regulated institution for bitcoin. Several newcomers are now looking to get in on the trade, and crypto popularity in Europe is expected to increase tenfold.

The license is set go into effect on July 1st of this year. One of the highest priorities of all digital currency applications is customer safety, and Bitstamp isn’t willing to take any chances.

Co-founder and CEO Nejc Kodric explained in a press release:

“We have put a lot of time and resources into the regulatory process with the goal of ensuring customers feel more confident in using Bitstamp’s exchange and products across the European Union… We are proud to have taken this important step for our customers and the digital currency/blockchain industry globally.”

BLOCKCHAIN HEALTHCARE?

First came Obama’s Affordable Healthcare Act; Obamacare. Now, the blockchain is spreading its wings in the world’s health industry, and the ways we do medicine and emergency surgery are about to undergo some massive changes.

With the introduction of Gem Health, a blockchain based around healthcare data is emerging with the goals of keeping records and data safe and sound, and connecting people on a global scale to reasonable and accessible healthcare providers. It is also being implied that Ethereum will be integrated for the handling of private health infrastructure.

Micah Winkelspecht, founder and CEO of Gem, stated:

“Blockchain technology will create a new fabric that connects the entire healthcare industry, weaving together critical data from every stage of the continuum of care… Blockchains address the trade-off between data availability and data security. For healthcare, this enables hospitals, insurance companies and labs to connect in real-time and share information instantly and seamlessly – without exposing those channels to theft or forgery.”

Through Gem Health, those in need of appropriate medical attention can likely rest assured that their information will be kept private and invulnerable to dangers like hackings and related cyber-attacks.

What stories would you like to see mentioned in our weekly industry reports? Post your thoughts and comments below!


 

Images courtesy of Ugandaexports.go.ug & unomaha.edu.

The post Industry Report: EU Gets Serious, Blockchain Does Healthcare appeared first on Bitcoinist.net.

Industry Report: EU Gets Serious, Blockchain Does Healthcare

Share
Dub 29

Europe Blockchain Fever: Public, Private Sectors Jumping on Board

Source: bitcoin

EU

Europe is taking blockchain technology and fintech solutions very seriously. All across the land, government officials, new startups, financial executives, and educators are promoting these emerging markets with much excitement. With investments being made within various European countries, and strategic discussions with parliament, it seems the Europe wants a leading edge in this growing environment.

Also read: Peter Todd Exposes MIT ChainAnchor Project That Enables Tracking Bitcoin User’s Identity

Dutch Bank Partners With Nexuslab Blockchain Ventures

recent partnership between the Dutch Rabobank and the Swiss-based Nexuslab will be geared towards early-stage European blockchain ventures. Switzerland’s blockchain startup program Nexuslab will be advised by experts from Rabobank, and the collaboration will give the bank access to the European startup Nexussquared. Both companies will host in-person hangout sessions in Amsterdam, London, Berlin, and Zurich. Daniel Grassinger, Managing Director of Nexuslab and co-founder of Nexussquared stated in the recent partnership announcement:

“We’re excited to work with Rabobank on this first round of Nexuslab. The engagement of a leading international industry player demonstrates Switzerland’s ability to play a central role in the development of the European blockchain ecosystem. Together with Rabobank, Startupbootcamp and our infrastructure and IT-partner SwissQ we have created an unparalleled offering for aspiring European blockchain startups to turn their ideas and visions into viable businesses.”

London Is All About Blockchain Technology

In a presentation at London’s Digital Catapult, Cabinet Office minister Matt Hancock had some positive statements to say about blockchain technology. Hancock told attendees that digital ledger protocols give distributed consensus of everyone in the chain. He feels that data held within the chain has protection from central authority censorship and has “built-in immutability.” The Cabinet Office minister said during his speech, “we’re exploring the use of a blockchain to manage the distribution of grants. Monitoring and controlling the use of grants is incredibly complex. A blockchain, accessible to all the parties involved, might be a better way of solving that problem.” Another London proponent for the emerging technology is George Galloway, who is currently a Mayoral candidate, former Labour Party MP and current leader of The Respect Party. Galloway says in a recent podcast that if he becomes Mayor of London, he will use blockchain technology to provide a transparent budget.

Parliament to Regulate Blockchain Tech ‘Softly.’

Alongside these announcements, the European Union’s parliament has been considering what to do with blockchain technology as far as regulation is concerned. According to a recent report from Reuters, certain members of the EU council want to regulate these technologies “softly.” Jakob von Weizsaecker, a German member of the European Parliament gave some positive remarks about these protocols to the press and said, “We don’t want pre-emptive regulation, but we do want precautionary monitoring,” However, the virtual currencies and blockchain report given to parliament and passed calls for quite a bit of AML/KYC type of regulatory policies. The report does warn against regulating too harshly and Weizsaecker addresses the subject within the report. Weizsaecker states:

“To avoid stifling innovation, we favour precautionary monitoring instead of pre-emptive regulation. But, IT innovations can spread very rapidly and become systemic. That’s why we call on the Commission to establish a taskforce to actively monitor how the technology evolves and to make timely proposals for specific regulation if, and when, the need arises.”

European Central Bank is Infected by the DLT’s

To add to all the blockchain and digital currency fervor across the EU, the European Central Bank (ECB) is full steam ahead with distributed ledger technology. An Executive Board Member of the ECB, Yves Merch said the central bank is researching blockchains and the economic implications. The board member said he considered Europe as a leader in blockchain technology. The declaration coming from Yves Merch doesn’t end the ECB news as another report finds the entity researching the current post-trade landscape, blockchain governance, and the overall implications of Distributed Ledger Technology (DLT). The ECB paper was written by authors who don’t necessarily have the same opinions as the bank describe DLTs in great detail. According to the researchers the definition is:         

“DLTs allow their users to store and access information relating to a given set of assets and their holders in a shared database of either transactions or account balances. This information is distributed among users, who could then use it to settle their transfers of, e.g. securities and cash, without needing to rely on a trusted central validation system”

Europe Knows What Bitcoin and the Blockchain Is

Europe wants to be on the forefront of blockchain technology and financial technology solutions and each and every day this is becoming clearer. People from all around the EU are beginning to find out about cryptocurrency and DLT’s. In Germany, a recent report shows 44% of consumers know what Bitcoin is which is a good sign. Since 2008 Bitcoin has created some pretty cool concepts and ideas that are taking the world by storm. European proponents believe the EU is riding the lightning.   

What do you think about Europe’s fascination with these technologies? Do you believe the region is a leader? Let us know in the comments below!


Images courtesy of Nexuslabs, Shutterstock, Wiki Commons and Pixbay

The post Europe Blockchain Fever: Public, Private Sectors Jumping on Board appeared first on Bitcoinist.net.

Europe Blockchain Fever: Public, Private Sectors Jumping on Board

Share
Dub 29

Toy Manufacturer Website Spreads Crypto-ransomware Through Joomla

Source: bitcoin

Bitcoinist_Joomla

Internet users are facing an uphill battle when trying not to get infected with malware and crypto-ransomware these days. The latest source of ransomware infections is Maisto International, a well-known toy maker specializing in remote-controlled toy vehicles.

Also read: BitcoinAverage: The Evolution of an Index

Maisto International Distributes Crypto-ransomware

Visiting a toy manufacturer website would be the last of concerns for Internet users worried about malware and crypto-ransomware. At the same time, these types of platforms present an excellent opportunity for Internet criminals, as toy manufacturer websites attract a lot of website traffic every day.

As it turns out, Maisto International has been hosting malicious files provided by the Angler exploit kit on their homepage. This attack vector was made possible due to the manufacturer using an outdated version of the Joomla CMS, and the attack code exploiting various vulnerabilities in modern applications ranging from Silverlight to Adobe Flash and Java.

Visiting the Maisto International homepage would put users at risk of getting infected with CryptXXX, one of the latest strains of crypto-ransomware. Computer users who did not have the latest security updates installed on their computer would risk getting infected with the malware, and they would have to pay a fee in Bitcoin to restore file access. However, Kaspersky Labs recently unveiled a solution to regain control over the computer without paying the fee.

For the time being, it remains unclear as to whether or not Maisto International has upgraded their Joomla version by now. Content management systems are the bread and butter of just about any website these days, and installing updates as soon as they are released should be at the top of the priority list. Unfortunately, that is not the case for most website owners these days.

This news is quite disconcerting, especially when considering how various ad networks had started spreading crypto-ransomware and malware little over a month ago. With so many different websites and servers being vulnerable all over the world, these threats will continue for the coming months unless companies step up their security.

What are your thoughts on toy manufacturers such as Maisto International inadvertently spreading crypto-ransomware? Let us know in the comments below!

Source: Ars Technica

Images courtesy of Maisto International, Joomla

The post Toy Manufacturer Website Spreads Crypto-ransomware Through Joomla appeared first on Bitcoinist.net.

Toy Manufacturer Website Spreads Crypto-ransomware Through Joomla

Share
Dub 28

BitcoinAverage: The Evolution of an Index

Source: bitcoin

bitcoinaverage

Meet BitcoinAverage, the world’s first and premier price index for Bitcoin.

This article was provided by the Vanbex Group.

“There was no funding involved, it was created initially … as a hobby. I wanted to provide it to the community to do my part for bitcoin,” said Shaun Gilchrist, founder and CEO at BitcoinAverage, whose Global Bitcoin Price Index (GBX) was the first of its kind in the industry and is still the most widely used price source for the cryptocurrency.

“There was truly no goal to monetise the project, it was open source and even access to the application program interface (API) was completely free, three years later, it still is.” Gilchrist added.

But under expressed demand the industry-leading system is set to kick off with pioneering changes including major upgrades to its system, soon.

Hardened investors to hobbyist users of Bitcoin will find these newest developments as exciting prospects for the data-driven side of the ecosystem.

They may also seem like predictable innovations for the world’s most valuable, yet volatile, cryptocurrency. Yet, as simple as the goal may appear, creating an index for a decentralized, globally used and traded cryptocurrency, involves substantial forethought and ingenuity, especially to travel from selfless dedication to an unparalleled index architecture.

It also looks as if BitcoinAverage is poised to sustain itself as the industry frontrunner and secure the status as the de facto index choice for Bitcoin users, traders, investors and more.

BitcoinAverage: An Evolving System

BitcoinAverage is the first aggregated bitcoin price index, launched in August 2013.

Gilchrist explained, he initially wanted to know the difference in markets to better gauge potential profits for off-exchange trading and the brokering of trades, which was taking off in the U.K. around that time.

After successfully creating a simple script in 2012 to compare the premium of the British Pound market to the US dollar, Gilchrist recognized the data may be well received by others. The price index was soon released as an open source and the journey of BitcoinAverage began, with thousands of monthly users soon taking to the earliest iteration of the system.

The company’s data extends as far back as 2010, encompassing a volume that surpasses key competitors. But it’s not just breadth and back-end programming. The index is also highly approachable, as it is comprehensive, from a front-end user perspective.

The layout has grown into a less clunky interface than other indices. The display contains easily legible data with a more than adequate colour contrast important for those that spend hours researching and analyzing data in single sittings.

Further, the currency and commodity options abound. Including USD, EUR, CNY, GBP and CAD options, the global index consists of over 165 currencies to Gilchrist’s estimation. The wide accessibility to fiat currencies and commodities provides an additional layer of relevance on a global scale, especially important for a cryptocurrency that extends beyond any one set of borders.

There were some initial pains, however, and to some extent those same inflictions remain today.

“In the early days [we] were coping with the frequent issues with exchanges, their API’s uptimes, and the fact that one could just disappear overnight!” Gilchrist exclaimed.

 Though the experience, the volatile nature of the industry, Gilchrist labelled as necessary learning curves and asserts adaptation to market conditions is a continuous endeavour for the London-based index.

BitcoinAverage also seeks to address in its latest evolution 0% fee exchanges, which its current system ignores entirely. The reason being, users can trade on the exchange for free with an unlimited base on a very tiny spread. The increased volume, sometimes exponentially, can skew the average on a weighted average price which is what BitcoinAverage currently supplies.

“We have rewritten our whole backend from scratch,” said Gilchrist. “A major decision for any software provider.”

The upcoming launch of its latest API, which has recently been released in a closed beta to allow testing and feedback before product finalization, means BitcoinAverage is closing in on its next evolutionary step: Scalability for the needs of enterprise, even at the largest of scales.

The new interface will be bundled with an updated front-end, offering customization and tailored programming to provide real-time, by-the-second updates, data points from exchanges all over the world, and the capability to adapt and adjust those indices to even the most idiosyncratic needs.

The changes underway will usher in the most advanced, comprehensive Bitcoin price index to date with pioneering features that push the system well beyond capabilities of competitor indices.

The only true obstacle is Bitcoin’s ability to sustain and outlast the various fronts it’s itself up against.

Hooked on Potential

“I have been a ‘bitcoiner’ myself since 2010,” said Gilchrist. “It was mentioned to me by a developer, and from the first few weeks of research, toying with mining, et cetera, I was hooked on its potential.”

Potential is the key word. It speaks to the core necessity of a pricing index, for Bitcoin or any other commodity.

The cryptocurrency, while commanding over $6 billion USD in market capitalization today, is a young asset class.

And granted stability in price has existed in recent months, since January, the cryptocurrency remains subject to volatility for a myriad of factors, in particular the gradual rate of adoption and its perceived store of value, which is tantamount to the consideration offered gold rather than a definitive fiat currency.

Further complicating the asset class is the range of exchanges worldwide, which involves a unique array of fees, rates and policies — perhaps shaped by the country the exchange is based in — that, in the end, can affect the bottom-line for users, traders or investors.

This is where the core value of a system like BitcoinAverage’s shines through.

Supplying a weighted average that incorporates over four dozen of the world’s exchanges, with 0% fee exchanges soon to be included, access to the widest variety of currency markets available among indices, there’s no better method of gauging the potential swings of the prone-to-volatility cryptocurrency.

And with billions of dollars at stake such a system is invaluable.

Develop or Disappear

“I believe being the first to produce something is a great advantage in many areas,” Gilchrist said in relation to Bitcoin’s ability to subsist.

“Will that be enough on its own? I’m not sure. I put my faith in the developers. I think at this stage, regardless of things like regulations, it’s in their hands.”

In similar stride is BitcoinAverage.

Gilchrist’s company is inching closer to morphing the basement-based hobby turned three-year open source project into a viable business. With that, the three-year-old system steps closer to becoming the generally accepted, go-to price index for Bitcoin.

Such triumph, however, rests on BitcoinAverage’s development team. Gilchrist assures there will be more on that front, along with progress already made, in the weeks to come.

Let’s just hope the cryptocurrency itself can too push onward in positive fashion and reach heights it once grasped in 2013, back when BitcoinAverage was just a nascent endeavor.


Images courtesy of BitcoinAverage.

The post BitcoinAverage: The Evolution of an Index appeared first on Bitcoinist.net.

BitcoinAverage: The Evolution of an Index

Share