Čvc 08

Inpay Combines Ethereum Classic and Waves to Deliver a Robust Dual Platform Cryptocurrency

· July 8, 2017 · 1:59 pm

Every blockchain is comprised of a specific underlying consensus algorithm. It is this underlying algorithm that determines the governance and operational processes of a particular blockchain.

[Note: This is a sponsored article.]


No Blockchain is Perfect

Products built on top of blockchain platforms automatically adopt the underlying protocol of such platforms. This explains the reason why not every program can be developed on every blockchain platform, and also why the functions of a particular project determine what platform may be suitable for it to run properly.

Several consensus algorithms currently exist on the blockchain, they include, Proof of Work, Proof of Stake, Proof of Service, Proof of Burn, Proof of Space, etc., all of them claiming to solve the cryptocurrencies/blockchain challenges for decentralized control, low latency, flexible trust, less resource intensive, asymptotic security, etc.

However, it is now widespread knowledge that each of these algorithms has their particular areas of strength and weaknesses. Therefore, it is only normal to find a blockchain that would offer excellent functionality in a particular area but fail to deliver optimally in other areas.

Inpay Blazes a Trail 

Combining blockchains to achieve optimal results based on their specific areas of strength is a development that has been adopted by the creators of Inpay, a cryptocurrency designed to harness the properties of Ethereum Classic and Waves in enabling features such as decentralized voting systems and aliases.

Being the first Ethereum Classic and Waves based platform, Inpay explores the intrinsic qualities of these platforms to achieve a completely decentralized smart contract infrastructure and a decentralized exchange at the same time.

Through Ethereum classic, Inpay is able to explore the completely decentralized infrastructure Smart contracts and dapps which allow the development of many different features of the platform while security is provided by a lot of mining power.

Waves, on the other hand, offers the options to trade InPay vs fiat in a decentralized exchange built into the simple official client that doesn’t require synchronization. This enables the easy addition of assets just by sending tokens to the address.

The future of blockchains

The Future of Blockchains 

Apparently, creating platforms that enable the combination of blockchains will go a long way in solving some persistent problems within the decentralized ecosystem.

Robust platforms like Inpay will indeed offer solutions that cut across security, speed of transaction, efficiency, immutability and a lot more as the blockchain industry continues with its development.

What do you think? Will combining multiple blockchains solve some of the problems plaguing decentralized ecosystems? Let us know in the comments below.


Images courtesy of Pixabay, AdobeStock, Inpay

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Dub 27

Ethereum Classic Takes Stance Against ‘Manipulative Crowdsale Tactics’

· April 27, 2017 · 8:30 am

The Ethereum Classic team addressed the current ICO hype, warning against “manipulative crowdsale tactics,” while promising not to vouch for coin offerings “in the same capacity” as the Ethereum Foundation. 


Ethereum Classic on ‘Irrational Appcoin Exuberance’

The Ethereum Classic development team has shared its opinion on what Nick Tomaino’s called, the “Irrational Appcoin Exuberance.” This exuberance is currently seen in Ethereum and may soon come to Ethereum Classic as more capital flows into the network.

Citing concerns regarding the way Initial Coin Offerings (ICOs) are structured in Ethereum and even within the Ethereum Classic network, the post seeks to caution investors against potentially risky investments in poorly planned or outright scam ICOs that can result in monumental losses for naive investors.

The post also showcases some examples where the Ethereum Classic community and dev team has performed its due diligence and warned against ill-conceived crowdfunding campaign on the ETC network, noting the different attitudes that the two competing blockchains, ETC and ETH, employ towards the Initial Coin Offering frenzy. The post reads:

As one might expect, ETCDEV will not vouch for coin offerings in the same capacity as the Ethereum Foundation members who signed on as curators for the launch of The DAO crowdsale.

Appcoins Coming to ETC

The Ethereum Classic team sees yesterday’s launch of the Grayscale Ethereum Classic (ETC) Investment Trust, whose shares are the first securities solely invested in and deriving value from the price of ETC , as a possible incentive for developers to run their ICOs on Ethereum Classic’s “immutable chain.”

“If stakeholders profit in a short span of time as a consequence of the launch of the Ethereum Investment Trust, some developers may choose to run their ICOs on the immutable chain, inviting the backing of the ETC nouveau riche,” the post explains.

Ethereum Classic

Developers will be able to kickstart their Initial Coin Offerings through the Emerald Wallet, an official desktop wallet, that is currently being developed by the ETCDEV team.

It will feature an integrated set of tools that can be used to launch ICOs and build custom applications on top of Ethereum Classic blockchain, allowing the Ethereum Classic team to distance itself from said crowdfunding campaigns.

ICO organizers may opt to use Emerald Wallet tools to deliver tokens to backers, though crowdfunding will not be the stated purpose of the software. Taking advantage of these tools for the creation of ETC decentralized apps, startups can issue offerings without ETCDEV having to involve themselves in ICOs.

‘Curb Your ICO Enthusiasm’

Despite this, the Ethereum Classic team does not share the general enthusiasm that is felt towards ICOs and appcoins, citing Barry Silbert, founder of the Digital Currency Group.

Bitcoinist_Digital Currency Group Barry Silbert

During a presentation at the Blockchain Startups Singapore meetup in November 2016, Silbert noted that the lack of legal structure found in those could “attract negative attention from the Securities and Exchange Commission.”

Instead, the team considers “store of value through monetary strategy, internet of things functionality, and smart contracts applications” as the investment merits of ETC.

In the Ethereum space, some developers are voicing concerns regarding recent crowdsales. There exists at present no established framework for investors to assess Ethereum startups’ ICOs, along the lines of a PhD student’s being required to defend their thesis.

The nature of ICOs has made it the perfect pitfall for naive investors who may be enthusiastic about blockchain technology but cannot see through “manipulative crowd sale tactics” often employed by these projects, which often rely on Ethereum and Ethereum Classic blockchains.

The dev team references two ICO hoaxes that took place in the Ethereum Classic blockchain, Unicorn and BorgDAO, the latter of which collecting funds from investors.

Our contention here is that 1) irrational app-coin exuberance and 2) potential SEC intervention should be kept in mind by ETC investors when considering participation in a risky initial coin offering. We do not support disingenuous and manipulative crowdsale tactics, nor do we believe that we have seen the last of hoaxes like the BorgDAO.

Investors should be very cautious when investing in Initial Coin Offerings. Be it on the Ethereum, Ethereum Classic blockchain or any other ‘blockchain.’ ICOs can result in huge losses and some are outright scams.

Bitcoinist advises everyone to perform due diligence and to vet projects and teams carefully before committing your money.

Will we start to see more ICO’s on the Ethereum Classic blockchain? Let us know in the comments below!


Images courtesy of Shutterstock, Twitter

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Říj 27

Altcoin Report: Ethereum Classic Embraces the Hard Fork

Source: bitcoin

Litecoin

Ethereum Classic undergoes a successful hard fork, Zcash prepares for its grand introduction, and Jaxx adds Litecoin. Want to catch up on your latest altcoin news? Read the stories below.

Also read: Altcoin Report: Monero Shutting Down Until January

ETHEREUM CLASSIC

Following a recent DDoS attack, Ethereum Classic has undergone a successful hard fork to set things “back to normal.”

This is not the first time such a move has been executed, and unfortunately, the price of ether has suffered in the long run. Immediately following the hard fork, the cryptocurrency dropped by about three percent, although this may be a direct reaction to bitcoin’s recent rise (currently $681 at press time). Others are arguing that the system has already undergone too many forks and that Ethereum isn’t likely to benefit as it once has.

The decision allegedly stemmed from cryptocurrency developers without any public input, which has ultimately led to controversy. In response, a small group has already formed to “continue the original ETC chain.”

ZCASH

The launch of Zcash is set to take place on October 28, and mining companies are preparing themselves as best they can. The new cryptocurrency has already earned the attention of platforms like Jaxx, which announced plans to integrate the new system into its blockchain wallet.

Describing his venture, founder Zooko Wilcox states:

“Zcash is a new technology that lets you put encrypted data into a blockchain. Blockchains as they currently exist, don’t offer much (or any) control over the disclosure of the data you put on the blockchain. Any data you put in there is visible to all users of the blockchain. Zcash is the first protocol of its kind, and is the accumulation of years of academic research, hard engineering work, and diligent security work.”

JAXX

After several calls to add Litecoin to its system, Cryptocurrency wallet Jaxx has announced plans to comply. The virtual coin will be added to Jaxx’s platform and apps, giving users easier and more refined access to what is being touted as the world’s fourth largest cryptocurrency.

Director of the Litecoin Association Andrew Vegetabile explained:

“Having Litecoin integrated with Jaxx allows our community members, who are also members of other communities, to feel a sense of unity when accessing platforms that allow multiple cryptocurrencies. This partnership enables those cross-community members to access their various cryptocurrencies in one platform without having to worry about keeping up with multiple wallets and applications.”

Know of any altcoins that belong in our regular reports? Post your comments below!


Images courtesy of YouTube, Bitcoinist.

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Altcoin Report: Ethereum Classic Embraces the Hard Fork

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Říj 18

Altcoin Report: Ethereum Classic Crashes From DOS Attack

Source: bitcoin

Altcoin Report

Gulden passes the $10 million USD mark, Ripple sees unusual trading activity, and Ethereum Classic crashes. Welcome to our first altcoin report! Check out the stories below to get the scoop.

Also read: Minex Putting the Fate of its MineCoin Central Bank to a Vote

Altcoin Report

GULDEN

Gulden is a Dutch cryptocurrency headed straight for “top ten” territory. The coin surpassed the $10 million mark as of press time, and is on the verge of becoming one of the highest-ranking digital currencies in the world.

Gulden entered the altcoin world last year with little “fanfare,” as one source describes, but an adoption campaign among merchants in the Netherlands seems to have done the trick. The currency hit the $1 million mark last September and now stands at about $10.5 in what is arguably one of the fastest jumps recorded.

According to founder Rijk Plasman:

“We are on the right track with making our apps as user-friendly as possible. The team can’t wait to release the 1.6.0 version of our apps. We are currently testing it, and it looks like an October release is possible. It is very easy to use, but packed with a lot of new and innovative features.”

RIPPLE

Activity surrounding Ripple has confused analysts. Trading more than doubled in the span of one hour on Monday, going from volumes of $3.25 million to $8 million. What’s throwing them off is that last September Ripple accomplished even more, reaching the $22 million trading mark, while the value failed to increase to its present degree.

Presently, London is releasing information on a Ripple derivative project set to be launched Tuesday, October 18. As the majority of Ripple’s partners happen to be banking magnates, this could potentially explain the sudden bursts we’re witnessing. Banks heard about the project and wanted in on the action, yet in a recent update, CoinMarketCap is explaining that it may have issued a distorted view of the currency thanks to fluctuating USD gateways. The story is continuing to develop.

ETHEREUM CLASSIC

It’s not all good news for altcoins this week, as Ethereum Classic came crashing down thanks to a recent DOS attack involving the drainage of memory nodes. The price has fallen by over ten percent and now stands at just a little over one dollar.

The attack appears to be the second in a recent string, the first of which occurred last month. Some believe the hack may be motivated by greed and financial gain, but this is open to speculation. Right now, Bitcoin core developers are looking highly suspicious, but it’s unclear as to whether this attack was prompted by September’s culprit or a copycat.

Ethereum has commented that another hard fork may be necessary to deal with the problem.

Know of any altcoins that deserve to get covered in our regular altcoin reports? Post your comments below!


Image courtesy of Ethereum.org.

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Altcoin Report: Ethereum Classic Crashes From DOS Attack

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