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Litecoin Lists on Lykke Exchange

Lykke, a Swiss FinTech company building a regulated, blockchain-based global marketplace, has added the market-leading Litecoin cryptocurrency to its exchange, along with other digital assets, according to an announcement released today. Lykke began actively expanding its list of assets from the beginning of this month, adding more than 30 new tokens.

Litecoin is one of the top five cryptocurrencies in the world by value, with a market capitalization in excess of USD 2 billion, according to the statement. It is renowned for its faster transaction speeds relative to bitcoin and its ability to handle higher transaction volumes.

“The maturation of the Lykke Exchange continues apace with Litecoin,” said Richard Olsen, Lykke founder and CEO, in a statement. “This important expansion to our offerings brings an investment opportunity to our community on a par with Ethereum and Bitcoin. We’re especially proud of the Litecoin integration. Thanks to the modular software architecture of our platform, which provides an abstract integration layer, bringing Litecoin onto our exchange was a smooth and painless process.”

Its integration scheme enables Lykke to adapt new cryptocurrencies through partial automation, according to its statement. The integration layer handles common tasks across blockchains, including cash flow operations and client wallets, allowing incorporation of new assets on the exchange simply by deploying the appropriate software connectors.

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Five additional blockchain integrations are currently in the testing phase with the support and participation of the crowdsourcing community, states Lykke.

For the most up-to-date listing of tradeable tokens and coins, visit https://www.lykke.com/cp/tokens-and-coins-traded

 

Source:http://www.the-blockchain.com/

  • Published in Business

Wanchain Joins With 22 Others to Form Austin Blockchain Collective

Wanchain, the distributed financial infrastructure powered by cross-blockchain smart contracts, on Thursday announced it has teamed with multiple Austin companies to form the Austin Blockchain Collective (ABC). With a mission to advance blockchain-based education to the local community and grow the ecosystem, ABC plans to engage with policymakers to advance Austin as a hub for blockchain innovation.

According to the announcement, initial participants of the ABC include WanchainMulticoin CapitalCapital FactoryLighthouse PartnersFactomDecredSteemitTEN Capital GroupDecentraNetAMSYS BlockchainAustin.cityAlgebraix DataLaurence VenturesWilliams Technology GroupSeriesXUlaHealthKilroy BlockchainChain Business InsightsGovernanceChainHatch Crypto and Windmill Enterprise.

Less than a year ago, there were approximately a dozen blockchain companies in Austin. Today that number is more than 50 and growing, according to the announcement. Austin boasts a diversified tech ecosystem, a business-friendly environment, a socially-conscious government and excellent transport links. The University of Texas at Austin recently added blockchain content to its graduate programs with plans to host a conference in April 2018.

“The founding participants of the Austin Blockchain Collective recognize the value of a thriving local blockchain ecosystem,” said Dustin Byington, President of Wanchain and Executive Committee Member of ABC, in a statement. “Bringing Austin’s blockchain builders and businesses together is a foundational step towards making Austin the global blockchain force we know it can be.”

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ABC participants plan to work together to advocate for the adoption of blockchain innovation at the local level and for the larger global ecosystem, according to the statement. The collective’s mission is to provide blockchain education while fostering connections across business and consumer-focused applications.

Initial financial support for the Austin Blockchain Collective is provided by Wanchain. The company is rebuilding the financial services industry using private cross-blockchain smart contracts, says the statement. Built in China and headquartered in Austin, TX, Wanchain’s currency-agnostic platform for global financial services is registered in Singapore as a non-profit organization. The Wanchain Foundation was initially funded by Wanglu Tech, a for-profit enterprise with investors including River Capital and Fenbushi Capital.

To learn more about WanChaiin, visit wanchain.org,

 

  • Published in Business

Tokenized Characters for Smart Contract-based Reality Show Launched

An “initial hero offering” of 50 hand-crafted, tokenized characters to race for survival in the Deus ETH smart contract-based reality show, has got off to a great start, said the show’s creators. A statement released on Wednesday said that all ready-to-buy tokens sold out within the first few hours of the launch.

The website is showing that stocks are now replenished; the game begins when all the characters are bought and start a three-week journey. “Following DEUS ETH is like watching Game of Thrones where it is very likely that your favorite hero will die in the next episode,” said a statement from the show’s executive producer, who prefers to remain anonymous. “We have 50 heroes wandering through the post-apocalyptic desert and trying to survive. They all have unique storylines and equal chances to shine in the final. The setup was inspired by biblical motifs mixed with ‘Mad Max Fury Road’ movie atmosphere.”

The show’s creators have also provided the hero-owners with powers to occasionally change their tokens’ routes in a bid to increase their chances of survival, says the show’s statement. Details of who died and how are to be provided in an accompanying visual novel and the blockchain will decide who reaches the finish line and gets the prize.

The show’s tokens will only be tradable during the show, says the statement. While the number of heroes decreases episode after episode, the chances of winning the prize will grow for the surviving heroes, as will their market price. Participants are invited to choose the hero they like the most and lead it to a glorious ending, or sell it closer to the finish line.

 

Source:http://www.the-blockchain.com/

  • Published in ICOs

Overstock’s tZERO Announces Polymath to Advise ICO on Securities Law

t0 (“tZERO”), the blockchain focused Overstock.com subsidary announced January 11th, 2018 a partnership with security token specialists Polymath in an advisory capacity. Polymath will advise on the design, distribution and economic model of t0’s security token, to be issued with applicable securities laws. Proceeds from the upcoming t0 ICO, beginning February 16th and targeting accredited US investors, will help fund a regulated trading platform for security tokens.

Trevor Koverko, CEO of Polymath, said in a statement, “tZERO is on the precipice of disrupting Wall Street as we know it. Our goals are similar—to create a thriving security token industry and allow companies and investors greater access, transparency and efficiency to an emerging token economy. We are excited to work with tZERO to provide ongoing consultation and support to the build out and distribution of the tZERO token, which will be a preferred equity token for tZERO.”

  • Published in ICOs

Zilliqa Token Sale: Smart Contract Platform with Sharding

Zilliqa is a blockchain platform natively implementing network sharding to massively increase transaction capacity. Emerging in late 2017, the project continues trend of novel blockchain and smart contract platforms seeking to address some of the speed and scaling issues that have dogged the blockchain community in general and developers in particular.

Summary

A key challenge for blockchain technology is scaling to meet the needs of an increasing number of participants and applications.  Zilliqa is one of the first projects to propose a concrete design to sharding, an innovative blockchain scaling technique which is also a part of the Ethereum development roadmap. Sharding allows blockchain networks to scale by breaking network nodes into subgroups, or shards. Shards work in parallel to process transactions and reach consensus on the blockchain more efficiently. Zilliqa’s operational testnet with limited nodes, or computing power, has processed 2,500 transactions per second across several shards. Zilliqa estimates that with an increased network size of 10,000 nodes, the Zilliqa blockchain will enable a network speed that matches the average transaction rate of VISA and MasterCard with the advantage of much lower fees. Zilliqa will be the first project to implement sharding on a full public blockchain.

Key Features

Native Sharding: The Sharding concept employed by Zilliqa was first proposed in an academic paperA Secure Sharding Protocol For Open Blockchains (Zilliqa Chief Scientific Officer Prateek Saxena is a co-author). Sharding works by dividing different nodes of a network into subgroups, or shards. Shards then work in parallel to process transactions and reach consensus. Eventually, such transactions are merged into a new block and processed on the blockchain. The main advantages of sharding is that it reduces the amount of data each node needs to store, the number of transactions each node needs to process, and the volume of data that needs to be processed across the network.  The Zilliqa team estimates that sharding will allow the Zilliqa blockchain to reach 8,000 to 10,000 transactions per second.

While sharding shows great promise, it has yet to be tested publicly at maximum node capacity and suffers from several challenges that need more research. Sharding introduces some network security issues: attackers may be able to focus attacks on a single shard more effectively, compromising parts of the network. In addition, not as many nodes share as much network information and once a large percentage of the nodes have a problem with the information or lose the information, then no other nodes in the network have that information. Zilliqa hopes to be the forefront of the research on sharding vulnerabilities.

Zilliqa’s Practical Byzantine Fault Tolerance Consensus: Zilliqa’s consensus model is divided into epochs, which last approximately 50 blocks. At the start of the epoch, a set of nodes are elevated to serve on the Directory Services Committee, which is responsible for sharding the network and assigning miners to the shards. During the epoch, each shard generated ‘micro blocks’ and submit those to the DS Committee, which aggregates them into a transaction block and distributes block rewards. At the end of each epoch, one member of the DC committee is swapped out and the entire network is shuffled. This approach relies on a consensus protocol scheme called Practical Byzantine Fault Tolerance (PBFT), which assumes a portion of the nodes in the network will cause errors or be actively malicious. Unlike many proof-of-work and proof-of-stake schemes, in which one validator confirms a bulk of transactions and other validators confirm it, PBFT involves every node independently verifying transactions and then sharing their results with each other. Consensus is reached based on the total decisions submitted by validators. Hyperledger, Stellar, and Ripple all use a variation of PBFT.

Dataflow Paradigm Smart Contract Language: Zilliqa smart contract platform differs from Ethereum’s and leverages its sharded structure to focus on data-intensive computation. In Ethereum’s architecture, contracts are processed sequentially and each node confirms the same computation. In Zilliqa’s sharded architecture, computation can be spread throughout the network and processed simultaneously. To enable this and enjoy the scalability to makes possible, the language will not be Turing-complete. In conversation, the team mentioned it would like to implement formal verification that enables high-level smart contracts. The team also expressed an interest in the potential of moving from a PoW to a Proof-of-Stake mechanism at some point.  This focus means that Zilliqa is aiming at highly scalable computations, such as data mining, machine learning, and financial modeling.

Project Background

Zilliqa conducted a presale contribution round in November of 2017. Zilliqa planned to raise $20 million in total, but due to the significant increase in the ETH/USD exchange rate, the project increased the hard cap to $22 million to allow for Zilliqa community members to contribute after the presale. Community member contributions start on December 27, 2017 and will run for a maximum of 2 weeks. Only members of the Zilliqa Slack channel or Telegram group who joined the respective channels before November 29, 2017 (as well as all waitlisted early contributors) are eligible to participate in the community contribution round. Contributions also exclude United States, United Kingdom, People’s Republic of China, and Japanese citizens. The contribution amount per member is limited to 2.5-5 ETH. Know Your Customer/Anti-Money Laundering (KYC/AML) processes will be enforced and facilitated by Bitcoin Suisse.

After contributions, the Zilliqa public testnet was scheduled to be released in December of 2017. Zilliqa also plans to launch its public main network in Q2 of 2018, with decentralized applications scheduled for delivery the following quarter.

Token Details

Zilliqa tokens are called, “Zillings,” or ZILs for short. Users will use Zillings to run transactions and smart contracts on the Zilliqa blockchain, similar to how ether functions on Ethereum.

The allocation of tokens from the crowdsale are as follows:

40% of token rewards to miners over 10 years time to incentive miners on the network

30% to tokens to supporters in contribution phases

30% to developer team, advisors, community outreach etc.

Team

The Zilliqa team is exceptionally qualified and reflects a unique academic background. Many on the team are former or current doctoral students and professors at the National University of Singapore’s School of Computing as well as Princeton, Berkeley, and France’s Inria. Zilliqa’s founder is Xinshu Dong, and Chief Scientific Officer is Prateek Saxena. The team has notable advisors including Loi Luu, the founder of the Kyber Network, a decentralized exchange, and one of the original architects of the shading concept. Additionally, Zilliqa has established a team called Zilliqa Research to conduct research and development, and community engagement efforts. Zilliqa’s advisor team is also composed of fintech and banking experts.

While still in the development phase, Zilliqa has announced that it will partner with Mindshare, a digital advertising company based in Singapore. The partnership will involve using the blockchain protocol to improve contextual advertising, develop strategic incentives around data privacy, and create an industry-wide tokenization program used for publisher and content scoring.

Project Details

Incorporation status Singapore
Team openness Very active and responsive on media channels
Blockchain Developer Prateek Saxena
Technical White Paper Yes
Available Project Code Yes
Prototype Private version has launched with limited node capacity. Version 1 of public testnet scheduled to be released December of 2017

Token Details

Role of token Access rights
Token supply 21 billion tokens
Distributed in ICO 12.5 billion
Token Price Calculation The formula to calculate the price is 21,000,000,000 * 30% / (48,889 + Total_Bonus).
Blockchain Proof of Work
Consensus method Practical Byzantine Fault Tolerance

Official Resources

  • Published in ICOs

doc.ai combines healthcare, AI and blockchain

The UK government has been conducting secretive trails with tech startup GovCoin on developing a blockchain solution for welfare payments since early 2016.

The trail, which was initiated in conjunction with partners Barclays, RWE npower and University College London, saw claimants use a mobile app to receive and spend their benefits payments. The transactions, with the consent of all parties, were recorded on a distributed ledger in order to help facilitate financial management.

In July 2016, GovCoin CEO Robert Kay said:

“GovCoin Systems brought together a team with deep expertise in core financial services infrastructure and global transaction services to build a platform with the potential to improve people’s lives. This proof-of-concept is the first concrete stage in that journey.

“We believe in a flexible, open and collaborative approach and are already working effectively with Barclays and RWE npower to develop creative answers to the complex problems faced.”

The app employs a virtual version of the “jam-jar method” of dividing money into separate pots for different expenses. Users can create virtual jars and then apportion money into them. So, for example, a user could have separate jars for rent, gas and electric and transport costs.

A major benefit of the system would be circumventing the banking system. Currently it can take up to three days for benefit payments to go through banking system, a delay which can have dire consequences for people struggling financially.

CLAIMANT DATA

According to GovCoin, the UK welfare system loses around a staggering $1 trillion every year due to friction and fraud costs in the distribution of aid and social welfare. The startup’s solution leverages blockchain, machine learning and the near universal ownership of mobile devices.

Jeremy Wilson, vice chairman of Corporate Banking at Barclays, said:

“This initiative focuses on adding an additional layer of richer data and identity onto payments, so that a deeper and more effective relationship can be established between the government and claimants. We are keen to see how the positive potential of this service develops and adds to our wider efforts to explore the uses of distributed ledger technology.”

A primary feature of the GovCoin system is that claimants are paid in cryptocurrency rather than Sterling. This is an important way of gathering more data about both how the funds are spent but also about the individual doing the spending. The hope is that this data will allow for the creation of better targeted goods and services.

Critics have claimed that the use of data in this way essentially amounts to exposing already financially vulnerable people to commercial opportunists.

It is currently unclear how the small-scale trials went and whether the UK government is planning further implementation.

  • Published in Tech

GovCoin aims to disrupt UK welfare system

The UK government has been conducting secretive trails with tech startup GovCoin on developing a blockchain solution for welfare payments since early 2016.

The trail, which was initiated in conjunction with partners Barclays, RWE npower and University College London, saw claimants use a mobile app to receive and spend their benefits payments. The transactions, with the consent of all parties, were recorded on a distributed ledger in order to help facilitate financial management.

In July 2016, GovCoin CEO Robert Kay said:

“GovCoin Systems brought together a team with deep expertise in core financial services infrastructure and global transaction services to build a platform with the potential to improve people’s lives. This proof-of-concept is the first concrete stage in that journey.

“We believe in a flexible, open and collaborative approach and are already working effectively with Barclays and RWE npower to develop creative answers to the complex problems faced.”

The app employs a virtual version of the “jam-jar method” of dividing money into separate pots for different expenses. Users can create virtual jars and then apportion money into them. So, for example, a user could have separate jars for rent, gas and electric and transport costs.

A major benefit of the system would be circumventing the banking system. Currently it can take up to three days for benefit payments to go through banking system, a delay which can have dire consequences for people struggling financially.

CLAIMANT DATA

According to GovCoin, the UK welfare system loses around a staggering $1 trillion every year due to friction and fraud costs in the distribution of aid and social welfare. The startup’s solution leverages blockchain, machine learning and the near universal ownership of mobile devices.

Jeremy Wilson, vice chairman of Corporate Banking at Barclays, said:

“This initiative focuses on adding an additional layer of richer data and identity onto payments, so that a deeper and more effective relationship can be established between the government and claimants. We are keen to see how the positive potential of this service develops and adds to our wider efforts to explore the uses of distributed ledger technology.”

A primary feature of the GovCoin system is that claimants are paid in cryptocurrency rather than Sterling. This is an important way of gathering more data about both how the funds are spent but also about the individual doing the spending. The hope is that this data will allow for the creation of better targeted goods and services.

Critics have claimed that the use of data in this way essentially amounts to exposing already financially vulnerable people to commercial opportunists.

It is currently unclear how the small-scale trials went and whether the UK government is planning further implementation.

  • Published in Tech

Defence blockchain study authorised by Trump

The new $700 billion military spending bill signed by President Trump also included a mandate for a blockchain cybersecurity research study.

The bill, which was signed into law by Trump on 12 December, authorises the Department of Defence to look into the “potential offensive and defensive” cyber applications of distributed database and blockchain technologies.

The study will look into three distinct areas:

  1. The current efforts by “foreign powers, extremist organisations, and criminal networks” to make use of blockchain
  2. The planned, or current, use of the technology by both the federal government and “critical infrastructure networks”
  3. The vulnerabilities that exist in critical infrastructure networks that could be exploited by cyber attacks

The study forms part of the Modernizing Government Technology Act, which looks to improve the US governments IT and cybersecurity systems.

OPENING THE DOOR

According to the bill, the results of the study will be reported to Congress within the next six months.

The report will be prepared by the Department of Defence, but is likely to feature input from a range of other federal agencies and departments. If the results of the study show that blockchain can have a positive impact on an area as politically important as defence, it could open the door for a whole range of investment in blockchain solutions for other areas of the US government.

Trey Hodgkins, senior VP of public sector of public sector at the Information Technology Industry Council is quoted in CoinDesk as saying:

“Blockchain was clearly one of the technological capabilities that Congress meant for agencies to look at, and what they were trying to do was create dollars with some flexibility to them so that agencies would have their own discretion on what they invest in.”

Source: https://www.blockchaintechnology-news

  • Published in Tech
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