Čvn 19

Such Currency, Much #Fail: Dogecoin Transactions 300% Higher Than Bitcoin Cash

· June 18, 2018 · 10:00 pm

Dogecoin (DOGE) processes three times as many transactions as Bitcoin Cash (BCH) per day, data shows this month — as Bitcoin’s (BTC) hash rate expands to an all-time high. 


Unlikely Success?

Figures reproduced on Twitter by social media commentator Armin van Bitcoin confirm the curious rise of DOGE, which has seen renewed attention this year after its surprise use in a chain swap project with Ethereum.

As of June 15, the Dogecoin network’s daily transaction numbers outran Bitcoin Cash by a ratio of three to one. Against BCH’s 12,700 transactions, Dogecoin saw 38,400.

DOGE currently trades at under $0.002, having lost around half its value since April, when prices reached their most recent peak of $0.0056. The altcoin’s highest-ever price continues to be $0.017 from January, while holders continue waiting for a previously-promised hard fork later in the year.

Bitcoin Hashrate Hits All-Time High

The latest performance continues a trend which has captured cryptocurrency industry attention in 2018 — Bitcoin Cash having lost out to Bitcoin’s Lightning Network in April when its node count surpassed the number of available BCH nodes for processing transactions. Lightning had begun its mainnet existence at the beginning of the year, while BCH had debuted in August 2017.

At the same time, despite downward market pressure deflating prices, Bitcoin continues to exhibit increasingly strong fundamental network statistics.

Running data from Blockchain.info reveals the Bitcoin network hash rate reached its highest level in history earlier in June, capping an upward trend which continues to rise.

As Bitcoinist reported Monday, naysayers calling the beginning of the end for Bitcoin continue to be confined to traditional banking circles, while warnings of further price slides do not reflect sentiment beyond that of trading circles. 

What do you think about Dogecoin’s transaction numbers and Bitcoin’s hash rate? Let us know in the comments section below! 


Images courtesy of Twitter/@ArminVanBitcoin, CoinMarketCap.com.

Show comments

Share
Čvn 18

EOS Tokens Not For Passive HODLers

· June 17, 2018 · 10:00 pm

If you’ve bought into EOS with an intention to be a long-term HODLer without having to do anything with the tokens, you might want to reconsider. According to the project’s Constitution, if your account is inactive for 3 years, it may be put up for auction. A closer look EOS’ highest law can certainly make you raise an eyebrow.


EOS, the project which raised $4 billion in a year-long Initial Coin Offering (ICO), has put down a set of rules in what is referred to as their Constitution. While rumors have it that this is just a proposition and that the EOS community has to ratify it, the very first introductory statement of the document reads:

This constitution is a multi-party contract entered into by the Members by virtue of their use of this blockchain.

Lack of Definitions and A Lot of Controversies

Lack of Definitions and A Lot of Controversies

The document, placed in the projects GitHub, is contributed by two people – Thomas Cox, Block.one’s VP of Product, and Danial Larimer – the company’s Chief Technical Officer (CTO). Taking a closer look at the text, though, would make anyone, even people without any legal background, ask a few questions.

Starting off with the sentence mentioned above, the lack of a definition for the term “Member”, could constitute future issues. Let’s break it down a bit.

Article XIII of EOS’ Constitution states the following:

This Constitution and its subordinate documents shall not be amended except by a vote of the Token Holders with no less than 15% vote participation among tokens and no fewer than 10% more Yes than No votes, sustained for 30 continuous days within a 120 day period.

As we’ve already reported, 10 addresses hold 50% of all EOS tokens. In theory, 10 entities have the complete constitutional freedom to dictate the way this fundamental law turns out.

Circling back to the definition of a “Member” – as it’s currently not established, a potential vote can essentially define it in any way the majority finds suitable. But even if it was defined, those 10 entities would have the power to change it. As a matter of fact, they can change whatever they want, as per the current version of the text.

In other words, while we can presume that a member is anyone who holds any amount of EOS token, that’s not defined, nor are they referenced.

The logical question here is: what if the majority decides that in order for one to be a Member, one has to have a specified amount of tokens?

Developers’ Immunity

Developers’ Immunity

Article XVIII of the Constitution states:

Members agree to hold software developers harmless for unintentional mistakes made in the expression of contractual intent, whether or not said mistakes were due to actual or perceived negligence.

First off, the terminology used in this clause makes it particularly hard to decipher its actual purpose. What is more, it’s hard to make any kind of differentiation between “actual” and “perceived”, when it comes to negligence.

Legal technicalities aside, spreading immunity over unintentional and negligent mistakes is risky, if not dangerous. Especially when the definition for a “developer” is so broad, according to the same document:

Each Member who makes available a smart contract on this blockchain shall be a Developer. – Article VIII of the Constitution.

If the intention of this Constitution is to truly serve as a fundamental law, which is the very definition of a Constitution in the first place, determining whether a developer has acted negligently or not will have to serve as merit when defining his responsibility and whether he can be held responsible at all.

Long-Term HODLers Ruled Out

Article XVII of EOS’ Constitution states:

A Member is automatically released from all revocable obligations under this Constitution 3 years after the last transaction signed by that Member is incorporated into the blockchain. After 3 years of inactivity an account may be put up for auction and the proceeds distributed to all Members by removing EXAMPLE from circulation.

Presumably, this rule intends to stimulate usage and activity. However, it also outlaws all investors who’ve put their money into the project, believing that it would do well from a pure, straightforward investment perspective.

Furthermore, it suggests that the EOS’ executives (the ones who contributed and presumably drafted the text), for whatever reason, are excluding the possibility that long-term investors would be active. It’s worth pointing out that traditional Constitutions are also punishing inaction. However, there are obligatory requirements where said inaction is penalized only and if it causes or could have caused harm in any shape or form.

EOS’ first and foremost law, however, doesn’t give any explanations as to why inactivity is being formally penalized, which goes against the very nature of a constitutional document.

Unfortunately, the above does not even begin to describe all the loopholes which can easily be abused by the powerful few of EOS.

While EOS New York is making the case that the aforementioned document is not the “final” version, and that it only constitutes a proposal, that is not how it looks. Nowhere in EOS’ official whitepaper is it mentioned how said Constitution is to be enacted or who is the one who should have proposed it in the first place – the only thing we know is the way to change or amend it.

And amid all this confusion, a humorous, yet painfully spot-on Twitter comment on the matter hits the sweet spot:

Do you think this EOS Constitution is needed? Won’t it cause more harm than good? Don’t hesitate to let us know in the comments below!


Images are courtesy of Pixabay, Shutterstock, The Blue Diamond Gallery

Show comments

Share
Čvn 17

Keplertek: Special Sale Due to Incredible Demand (June 19th-June 21st)

· June 16, 2018 · 10:00 pm

How do you feel about a future that is fueled by the constant drive of wanting to achieve true greatness, by helping mankind in all aspects of life? If this sounds like something you see happening or want to see in the near future, Keplertek is the right project for you. The unprecedented combination of the up-and-coming industries of Robotics, AI, and the Blockchain will change the world in ways we cannot yet imagine! 


Due to very high demand for KEP during all stages of the Pre-ICO, Keplertek decided to give the cryptocurrency community one more opportunity to participate before the start of the initial coin offering.

The Special Sale will start on the 19th of June 2018 at 8 PM UTC+4 and conclude on the 21st of June 2018 (8 PM UTC+4), giving investors exactly 48 hours and one last chance to take advantage of the generous 30 percent bonus offered during Pre-Sale.

Should you have reserved tokens before the Pre-Sale but missed out on your purchase due to not triggering the reservations in time, worry not — all previous reservations are still active during this stage and are waiting to be triggered!

The centerpiece of Keplertek’s innovative project is Kepler Universe, a platform that will make it possible for tech and financial geniuses from all around the world to connect and work on the technology of tomorrow.

The sad truth is that there are so many talented people with life-changing ideas and the potential to change the world, but most of them are never realized due to a lack of funding, experience, or infrastructure. By providing this infrastructure, Kepler will change the way we view technology and how we approach fundraising, as well as teambuilding, worldwide. Leave behind the outdated boundaries set by the biggest players in the field and join the revolution.

After selling out all tokens assigned to the Pre-Sale within the first week (2 weeks ahead of schedule), Kepler’s team, consisting of over 50 brilliant minds (with 100 additional international members), is working hard to prepare for its ICO and to ensure the smooth launch of KEP and Kepler Universe.

The ICO will start on June 26th, offering a 20 percent bonus during the first stage, decreasing to 10, 5, and eventually 0 percent. KEP will then hit major exchanges right afterward and have the alpha version of Kepler Universe ready by Q3 of 2018.

Take your future into your own hands and seize the opportunity to get involved with the best project out there on the ground floor. Complete KYC and get ready for June 17th, it WILL pay off – don’t let this be another missed opportunity and reap the rewards of your early discovery!

Also, don’t wait until the last minute, it only took 24 hours for Kepler to sell 400.000 tokens during Pre-Sale. Join the Special Sale and make a revolutionary investment into a limitless future, from which we will all one-day benefit!

For more information visit www.keplertek.org and the following links:

Whitepaper: https://www.keplertek.org/v2/WP.pdf
Facebook: https://www.facebook.com/Keplertek/
Twitter: https://twitter.com/KeplerTek
Instagram: http://instagram.com/kepler.tek
Linkedin: https://www.linkedin.com/company/keplertektechnologies/
Medium: https://medium.com/@KeplerTek
Telegram: https://t.me/KeplerTechnologies

What do you think about Keplertek? Let us know in the comments below!


Images courtesy of 

Bitcoinist does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions related to the company.

Show comments

Share
Čvn 16

Bitcoins Seized From Bankrupt BitGrail by Italian Authorities

· June 15, 2018 · 9:00 pm

Authorities in Italy have seized bitcoins from the company wallets of controversial exchange BitGrail as part of standard pre-bankruptcy proceedings. BitGrail was hacked in February 2018, with $170 million dollars’ worth of Nano stolen — which subsequently lead to a major price crash for the coin.


BitGrail’s blog was updated today, June 15, 2018, with the following announcement:

On June 5, 2018, pursuant to the Tribunal of Florence orders, the Bitcoins contained in the company’s wallets were seized and brought under control of the judicial authorities pending further Court decisions in the prebankruptcy proceeding.

A news update on the website in May declared BitGrail would reopen on May 2, 2018, but was closely followed by an announcement stating the Italian court of Florence had issued a deed “requesting the immediate closure of BitGrail” and that BitGrail would comply.

Hack vs. Insolvency

BitGrail’s problems came to light in February 2018 when it reported 17 million Nano (previously RaiBlocks) — equivalent, at the time, to $170 million dollars — stolen in a hack. At the same time, reports surfaced that the exchange could be insolvent and may have been for a number of months.

Nano refused to fork its blockchain in response to the hack stating:

We now have sufficient reason to believe that Firano has been misleading the Nano Core Team and the community regarding the solvency of the BitGrail exchange for a significant period of time.

BitGrail stuck with its hacking claim, later posting on its blog that, though it wasn’t responsible, it would “meet its users half-way” by offering a settlement agreement and repayment plan for victims of the purported Nano hack.

As the news of the hack and the potential insolvency of BitGrail broke, Nano’s price began to fall — eventually crashing from $30 USD to $2.50 USD. Many investors had been encouraged to use the BitGrail platform as one of only two exchanges listing the coin until it was added to the popular exchange Binance.

BitGrail was prevented from reopening on May 2, 2018, by a court order initiated by BonelliErede — the firm assisting the 3000+ investors who became victims of the BitGrail/Nano hack.

Nano Is Moving Forward

BitGrail and Nano have argued publicly and legally over the cause of the hack and the insolvency issue. The Nano Foundation concluded in April that there was a bug in the exchange software at BitGrail.

Nano is moving on. Colin LeMahieu, Lead Developer, said in May:

While the BitGrail situation is extremely unfortunate, it has not impeded the project. We allocated significant resources towards both determining what exactly happened, as well as investigating legal options, but as far as protocol development and overall project milestones are concerned, we have continued to move forward.

Were you affected by the BitGrail hack? Tell us your story in the comments below! 


Images courtesy of Shutterstock, CoinMarketCap.com.

Show comments

Share
Čvn 15

What Does the Future of ICO Advertising Look Like?

· June 14, 2018 · 10:00 pm

Due to the notorious volatility and unregulated nature of cryptocurrencies, many organizations and even governments are jumping on the bandwagon to ban them.


As we move further into 2018, even the big tech firms are starting to put their foot down on crypto advertising. Such a huge widespread ban has the potential to severely hinder the future development of the crypto industry.

Google and Facebook Have Banned ICO Advertisements

Some of the Internet’s largest advertising platforms, including Facebook, Twitter, and YouTube, have completely banned any advertisements promoting ICOs and cryptocurrencies.

As of June, even Google will be banning the advertisement of crypto – including ICOs, wallets, and exchanges, etc.

 There has been a lot of speculation as to why this has happened. Some speculate that it is merely an attempt to protect their users (and their reputation) from fraudulent ICO and token scams and Ponzi schemes, while others have even suggested that these websites could be feeling threatened by the increasing popularity of blockchain technology.

But regardless of the reasons behind these bans, one thing is becoming clear – ICO marketing has become increasingly difficult.

 ICOs Are Looking for New Ways to Gain Exposure

As it stands, some of the main ways to promote ICOs include:

  •  Going on a roadshow and speaking at conferences to elicit interest, growing a brand and being exposed to potential investors.
  •  Ordering press releases and getting them published on popular websites that are frequented by crypto enthusiasts.
  •  Joining in discussions on popular social media websites – such as Facebook groups, Reddit, Telegram, Quora, LinkedIn groups, and specialized forums.

If you really want to succeed, it’s likely you’re going to have to leverage all of these methods and more.

Hopefully, after a while – if your offer is good enough – your idea will spread among users through word of mouth and you’ll be able to tone down your efforts slightly. But until then, you need to work hard to get your message out.

Can Decentralized Platforms Be A Powerful Channel to Promote ICOs?

One up-and-coming blockchain platform, known as 2Key, is introducing a brand-new model that rewards users for sharing valuable information.

It might just be the new go-to platform for blockchain startups looking to gain exposure.

2Key is a decentralized global referral network. Its goal is to become the go-to platform used to share information about products, services, and events. The platform encourages the free-flow of valuable information through human referral chains.

This is made possible through the platform’s Multi-Step tracking technology that makes it possible to track and reward every user involved in the link-sharing chains.

Using this technology, anyone can easily create their own referral link based on a smart contract, define their goal (such as more exposure, leads, or sales), and incentivize the human network to share this message to achieve it.

It even incentivizes users to share beneficial information by directly rewarding them with tokens.

As time progresses and 2Key continues to develop, the platform could become the go-to solution that ICO organizers choose instead of running bounties for their users.

 Another platform that’s built a lot of momentum is Wings.AI.

While the core functionality is to forecast and predict the amount an upcoming ICO is going to raise, the benefit Wings can bring to the table is ICO discovery and word-to-mouth buzz marketing.

The Wings community is comprised of crypto enthusiasts and investors that are constantly seeking new projects to evaluate. Through the Wings platform, users are exposed to new projects on a weekly basis, and they are required to run due diligence evaluate the project and share their findings on social media and on the Wings platform.

In some cases, this can create a network effect, where thousands of people engage with a project, ask questions, provide feedback and discuss it with each other.

How Are Users Rewarded?

With 2Key’s case, the platform features its own multi-party state channels protocol. This allows links to automatically perform self-tracking and information sharing as they are distributed.

This enables 2Key’s smart contracts to automatically reward the entire chain whenever a result is achieved.

Users will be rewarded with the 2Key Ethereum utility tokens in return for successfully referring other users. These tokens can be exchanged or used to purchase other services within the network.

With Wings.AI, users are rewarded in tokens based on how accurate their predictions were.

This incentivizes users to run a good due diligence, improve their rating on the Wings platform and grow their reputation.

 The Future of Advertising

There are a huge number of predictions about how advertising will change in the future that can be applied to the ICO industry.

Perhaps one of the biggest changes we will witness is the ever-increasing personalization of advertising.

Long gone are the days when the best way to advertise was to put up a massive banner advert in the middle of the city center that would attract the attention of everyone who passed by.

In today’s society, the best advertising is that which is highly targeted. A study by Rocket Fuel revealed that 80% of Millennials see value in brands engaging them with personalized offers.

Platforms like 2Key that are part of the moment shifting advertising away from the hands of big brands, back into the control of the human network, could act as a major catalyst for changing the future of advertising.


Images courtesy of 2Key, Wings.ai, AdobeStock

Show comments

Share
Čvn 11

Healthheart / Keyqo Announces New Security Product

· June 10, 2018 · 8:00 pm

On top of a successful rebranding from HealthHeart, Keyqo has announced significant progress towards the release of their new healthcare IT security product.


In a recent update, CEO Mark Rudnitsky, described the product as follows:

For this first phase, we are developing a security monitoring tool, which tracks the transfer of sensitive data within and out of a given clinic’s network. We have a small ‘agent’ that gets installed on each machine on the network. It monitors all traffic coming in and out of that machine. It interfaces with an intrusion-detection system (IDS), which tells it certain ‘patterns’ to look for, which indicate patient data is being compromised. If those patterns are detected by the agent, it will report to a central server with what it found. The server will take those logs, encrypt them, and store the information on a private blockchain (this is a requirement so we’re HIPAA-compliant). So no matter if the machine is compromised by an attacker, the logs can never be modified. There’s a dashboard/admin console that the end user utilizes to see any alerts or indicators of compromise, as well as separate tools for storing customer data, reporting, and billing.

Velvetech, Keyqo’s software development partner, has provided an estimate of Phase One completion in about three months. First to be completed are the IDS and blockchain components, with the agents and dashboard following later.

Blockchain technology

While the original blockchain EHR concept has been temporarily placed on hold, Rudnitsky seems optimistic on the pivot to HCIT security software:

The cost of healthcare data breaches is higher than it’s ever been. Every single record breached can cost an organization $380. The security solutions offered by others clearly aren’t working. So not only do healthcare organizations of all sizes need the blockchain security solutions we’re building, we are also able to benefit them with minimum disruption to their operations. We can integrate with any IT system that a hospital could use. No need for a full EHR migration, no need for system downtime – providers can secure their patient data without even thinking of compromising the quality of care.

The pivot to security seems to be paying off. Several hospital chains reportedly have reached out to Keyqo and the company’s leadership has been developing awareness among Illinois podiatry clinics.

Rudnitsky seems optimistic about the future:

What we’re doing right now in the HCIT space is nothing short of revolutionary. The recent increase in healthcare blockchain companies shows exactly how forward-thinking we were when we started back in September. We’re the vanguard, bringing healthcare IT into the 21st century. The future looks bright for Keyqo.

What are your thoughts on Healthheart / Keyqo’s new direction? How can blockchain help secure healthcare providers’ patient records? Let us know in the comments below.


Images courtesy of AdobeStock, iStockPhoto

Bitcoinist does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions related to the company.

Show comments

Share
Čvn 10

Keplertek: How Robotics and AI on the Blockchain Will Change the Future Forever

· June 9, 2018 · 8:00 pm

Keplertek recently finished its Pre-Sale, thus concluding the final stage of its Pre-ICO. In total, all of the pre-sale tokens sold out within the first seven days — an incredible achievement that the team is understandably proud of. There is more and more talk about this amazing project, and rightfully so — so let’s take a deeper look at what makes Kepler Technologies truly special. 


Robotics and AI on the Blockchain

Robotics and AI are some of the most disruptive technologies in our world – they’re already very real and about to change the world for the better.

Imagine a future that is shaped by the way we interact with technology, and not by the tiring quest of actually getting there – this is where Keplertek comes in.

By combining these three exciting fields of technology and providing the infrastructure needed for geniuses to work on their projects without having to go through the tedious process of fundraising and finding experienced and competent members, Keplertek will enable thousands of interesting projects to be realized instead of drowning in bureaucracy and vanishing forever.

Georgia: Tech Hub of the Future

Georgia is known for being a very tech-friendly country that gives its best to support up-and-coming companies that try to change the world of today by inventing the technology of tomorrow. It’s not only one of the countries with the most miners and mining companies, but also very interested in fostering innovation.

Its geographical proximity to both Europe and Asia is one of the most important and decisive factors in terms of international trade, allowing Keplertek to forge important partnerships throughout the entire world. This is further strengthened by a very accommodating tax policy, seeing as the total tax rate is 16.4 percent (percentage of profits). This allows businesses to flourish and grow organically.

One of the Biggest Teams

One of the Biggest Teams

Keplertek has over 50 employees working around the clock in its Tbilisi office, ensuring the launch of KEP and Kepler Universe will go as smoothly as possible.

With over 100 more team members working from abroad and in R&D, Keplertek is without a doubt one of the (if not THE) biggest projects in the ICO space at the moment.

Strong Social Media Presence

Keplertek has a Telegram group with over 86.000 members and a lot of interesting discussion about the project and the general evolution of cryptocurrencies. It is always possible to get your questions answered by an Admin and partake in activities like quizzes with KEP rewards — strengthening the community even further.

Keplertek is also on Facebook, Twitter, Instagram, and LinkedIn — take a look and get to know the dedicated team behind this project even better!

All in all, Kepler can be considered the most interesting project in the cryptocurrency space at the moment.

Register now to complete KYC and participate in the ICO, starting on June 26th and lasting until July 17th. However, it’s better to hurry – if Pre-Sale is anything to go by, all tokens will be sold considerably sooner!

Don’t miss your chance, get ready to invest in a limitless future and take advantage of the 20 percent bonus on all purchases during the first round of ICO!

For more information visit keplertek.org, and check out the following links:

Whitepaper: https://www.keplertek.org/v2/WP.pdf
Facebook: https://www.facebook.com/Keplertek/
Twitter: https://twitter.com/KeplerTek
Linkedin: https://www.linkedin.com/company/keplertektechnologies/
Medium: https://medium.com/@KeplerTek
Telegram: https://t.me/KeplerTechnologies

What do you think of the Keplertek project? Let us know in the comments below!


Images courtesy of Keplertek, AdobeStock

Bitcoinist does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions related to the company.

Show comments

Share
Čvn 09

South Korea Claims $28M Tax From Bithumb But Finds No ‘Illegal Activity’

· June 8, 2018 · 8:00 pm

South Korea’s National Tax Service (NTS) has requested $30 billion won ($28 million) in taxes from major cryptocurrency exchange Bithumb in a move which has gained positive feedback from the community.


Bithumb ‘Will Not Object’ To Tax Bill

Local media reported on June 8 that Bithumb, which posted revenues of 427 billion won ($397 million) in 2017, will pay the bill following an audit from South Korea’s Internal Revenue Service (IRS).

As a result of the audit, which occurred in April, the IRS also confirmed that investigators had not found “any illegal activities such as tax evasion.”

An NTS official said:

The IRS has conducted a tax investigation against Bithumb for the 2014 to 2017 business years. […] We understand that Bithumb has decided to pay the related taxes without any objection to the imposed tax amount.

Cryptocurrency commentators received the news warmly on social media, noting that Bithumb getting the all-clear from regulators marked a positive step forward for South Korea’s exchange industry.

South Korea Stabilizes Crypto

Earlier this year, the government moved to clamp down on exchange operators, banning multiple accounts and forcing users to link their exchange account with their bank account. Foreign accounts were also halted, along with provisional warnings from authorities that exchanges would soon need to respond to tax obligations from the previous 2017-18 tax year.

The boon for Bithumb, meanwhile, comes as Seoul continues to consider reversing its previous ban on ICOs. A National Assembly committee dedicated to studying the ‘Fourth Industrial Revolution’ recommended during a meeting on May 29 that it plans to “establish a legal basis for cryptocurrency trading, including permission of ICOs.”

Also among its recommendations was making “improvements” to the “transparency” of the local cryptocurrency industry, along with “establishing a healthy trade order,” local news outlet Business Korea reported.

What do you think about Bithumb’s tax bill? Let us know in the comments section below.


Images courtesy of BigStockPhoto

Show comments

Share
Čvn 07

Binance Invests in Malta-based Blockchain Esports Company

· June 6, 2018 · 10:00 pm

Binance, the cryptocurrency exchange behemoth has invested in Malta-based chiliZ, a blockchain esports company. ChiliZ revealed the news via a blog post on May 5. This move represents Binance’s first significant investment in Malta since announcing its intention to transfer its operations to the Mediterranean Island country.


Binance Teams up with chiliZ

According to the blog post, both Binance and chiliZ recognize the immense opportunities in the $110 billion video game industry. The cryptocurrency exchange wants to team up with the eSports company to bring blockchain technology to the gaming industry. With cryptocurrency and gaming appealing largely to the same user demographic, a melding of interests and strategies between the two companies could facilitate faster blockchain and cryptocurrency adoption within the gaming industry.

The monetary value of Binance’s investment in chiliZ is unknown, but the eSports company has already raised more than $27 million in a private funding round. Commenting on the investment deal, chiliZ CEO, Alexandre Dreyfus said:

Binance’s significant investment in chiliZ will boost our current private placement offering and help us to move faster. Their support will help us deliver our vision globally, increase our visibility in the blockchain ecosystem and empower our technical vision.

Apart from the monetary investment, Binance also plans to partner with chiliZ to tokenize the eSports ecosystem. Trading of virtual assets is already a mainstay of the video gaming world. By leveraging cryptocurrency and blockchain technology, stakeholders can monetize the industry. Commenting on the benefits of such a partnership, Binance CEO, Changpeng Zhao said:

chiliZ is a creative way to embrace blockchain technology, aimed at building tools and services for mainstream adoption in industries that have a massive global growth rate. We are thrilled to support the team behind the project, and to help make them a success.

BNB Continues its 2018 Streak

Binance Coin (BNB) remains the best performing token of 2018. BNB prices are up almost 100 percent since the start of the year. At press time, BNB tokens were trading at $16.33 which represents a nine percent gain over the last 24-hour period. The weekly and monthly gains posted by BNB so far stand at 32 percent and 17 percent respectively. The 17th ranked cryptocurrency according to market capitalization figures reached its highest price valuation of $24 in mid-January 2018.

Binance Coin Charts

Malta Set to Pass Ground-breaking Cryptocurrency Laws

In a related development, the Maltese government has drafted a set of laws to guide the operations of cryptocurrency companies in the country. Announcing the news, Silvio Schembri, the Digital Economy Parliamentary Secretary said Malta was setting a precedent for the rest of the world to follow.

According to Schembri, the provisions in the draft provide the necessary framework for the monitoring and regulation of the country’s burgeoning cryptocurrency industry. He dismissed claims of the government tacitly trying to encourage money laundering under the guise of cryptocurrency commerce. Schembri said the requirements in Malta’s cryptocurrency laws were even stricter than the EU’s anti-money laundering regulations.

The law isn’t without its critics as opposition MP Kristy Debono found fault with the composition of the Malta Digital Innovation Agency (MDIA) board. The MDIA is the body responsible for overseeing the country’s emerging cryptocurrency industry. According to Debono, the MDIA should have cryptocurrency operators as members rather than nominees exclusively handpicked by the Prime Minister. Debono believes that without adequate representation from the cryptocurrency community in the running of the MDIA, the Maltese cryptocurrency economy will suffer the same disrepute as other sectors.

What are your thoughts about Binance teaming up with chiliZ? Will the new government regulations in Malta attract more cryptocurrency and blockchain investment into the country? Keep the conversation going in the comment section below.


Images courtesy of chiliZ.io, CoinMarketCap

Show comments

Share
Čvn 06

Block.One Starts Mainnet – EOS Tokens Rise

· June 5, 2018 · 10:00 pm

Block.One, the developer of the EOS blockchain platform, has raised more than $4 billion through a yearlong sale of EOS tokens, which makes it the largest fundraising of its kind, as The Wallstreet Journal reports.


This is more than twice the size of the next largest coin offering ever of Telegram, which raised $1.7 billion, and larger than all but two of the world’s initial public offerings on stock exchanges so far in 2018. Block.One still owns 10% of all EOS tokens, adding approx. $2 billion to its balance sheet, making it one of the most well-capitalized blockchain companies worldwide.

EOS is a so-called platform token, which represents an operating system – comparable with Microsoft’s Windows OS for computers or Google’s Android for mobile phones – for the blockchain. The best known platform-token so far is Ether, the token for the Ethereum platform. The rivalry between the two systems is also a fundamental discussion between “Proof of work” (PoW) and “proof of stake” (PoS), which are two algorithms by which a cryptocurrency blockchain network aims to achieve distributed consensus.

Cryptocurrency PoW mining

PoW-based cryptocurrencies use computationally intensive puzzles in order to validate transactions and create new blocks. New tokens are created by “mining”, which equals use of energy. It makes those networks slow and expensive. There are ideas discussed at the moment how to mitigate those problems, but the general problem – that new tokens are created by mining, which imposes costs and limitations – cannot be changed. In contrast, in PoS – based cryptocurrencies, the creator of the next block is chosen via various combinations of random selection (i.e. the stake). Those platforms have no capacity issue and very little transaction costs.

One of the critical success factors for any of these platforms is to create a vivid ecosystem in a short period of time and to attract programmers and entrepreneurs who intend to build so-called dApps (decentralized apps) on those platforms. In order to boost the EOS ecosystem, Block.One has pledged to invest more than $1 billion in startups building on EOS. The funds are channeled via a variety of partnerships with renowned venture funds like Mike Novogratz’s Galaxy Digital, Eric Schmidt’s TomorrowVentures and Christian Angermayer’s FinLab. Novogratz and Angermayer (via his holding Cryptology Asset Group PLC) are also shareholders of Block.One.

While the best way to profit from the EOS success is to hold EOS token, FinLab, which is listed on the Frankfurt Stock Exchange (international securities number: DE0001218063) is a good indirect way to participate in the EOS success story.


Images courtesy of Block.One, Shutterstock

Show comments

Share