Tag Archives: Blockchain

Binance Unveils Venus’ An Open Blockchain Project That Could Challenge Facebook’s Libra

Binance Unveils ‘Venus’, An Open Blockchain Project That Could Challenge Facebook’s Libra

                              

Binance has unveiled plans to launch the Venus public blockchain for stablecoins deployment.

On August 19, the exchange annouced the planned launch of a public blockchain branded Venus. This aims to develop a global market of stable currencies. Meanwhile, according to the Chinese version of today’s report, the Venus project is named the “regional analog” of Mark Zuckerberg’s Libra project.

To implement the initiative, the company is going to team up with global businesses that are into the blockchain industry. It will be possible to issue new stable currencies on the Venus blockchain, which rate will be tied to fiat currency, oil or other valuable assets. Venus’s key audience will be emerging economies and volatile national currencies.

The company invites all interested businesses and government agencies to participate in the blockchain deployment. The exchange has already put into practice the technology of public decentralized networks and international transfers on the Binance Chain blockchain. It has released several stablecoins, for example, BitcoinBrand (BTCB) and BGBP Stable Coin (BGBP). The price of the first coin is tied to the Bitcoin (BTC) rate and the second one – to the British Pound. Venus will become a direct competitor to Facebook’s Libra platform. The social giant has already begun work on creating a blockchain and stablecoin, which will be available to users of the WhatsApp, Messenger and Instagram apps.

The Libra project will be managed by the Libra Association, headquartered in Switzerland. The association included 28 institutions such as payment operators, trading platforms, telecommunications firms, blockchain startups, VC, and educational centers. Binance keeps pushing forward with new improvements, all of which aids in the growth of the crypto space. Such steps not only increases the popularity of the exchange in particular but also boosts the global adoption of cryptocurrencies all over the world. Building mainstream innovations are becoming easier, which means the progress that is already moving at a fast pace cannot be obstructed.

Article Produced By
Victoria Tiebienieva

Victoria is a Professional Fintech writer and a graduate of the Kharkiv Institute of Finance Kyiv National University of Trade and Economics. Contact: Victoria.Tiebienieva [at] zycrypto.com

https://zycrypto.com/binance-unveils-venus-an-open-blockchain-project-that-could-challenge-facebooks-libra/

Thomas ClaimCo.in

Blockchain-Based Solutions Could Revolutionise Remittances

Blockchain-Based Solutions Could Revolutionise Remittances

                                  

According to a recently published report, by BlockData,

blockchain-based money transfers are more than 380 times quicker and almost 130 times more cost effective than those of financial systems. When you take a look at the Ripple transaction speed and fees, these statistics are even more impressive. The report shows us that blockchain based solutions are great for remittance payments. Through a sample of sum 1,800 remittance payments, BlockData found that Ripple, BitShares, and Stellar could turn the industry in another direction. 

The reports show that while legacy systems take anywhere between two and five days to settle transactions and charge fees that could grow to nearly $10, blockchain-based solutions are able to process these same transactions in as little as two seconds, for less than $0.01 as is Ripple’s case. Furthermore, Ripple’s technology is able to settle transactions in around four seconds, while the remittance giant Western Union needs three to five days to do so. So if we put this into perspective, Ripple could settle around 100,000 transactions in the time Western Union settles one. The reports goes on to add that it found the number of remittance firm’s using blockchain technology has been slowly growing over the last ten years. They go onto add that most of these don’t use their own blockchain or blockchain-based token, but rely on solutions provided by existing blockchain

such as Ripple.

“Our results show that about two-thirds of these startups utilize blockchain technology without their own token. Most of these companies are building on existing blockchain infrastructure like RippleNet or Stellar”

The research also found that traditional remittance firms like MoneyGram and Western Union have been experimenting with Ripple’s proprietary service, xCurrent to settle cross-border payments using blockchain technology. Santander has recently confirmed that it's doing the same thing through

its One Pay FX app.

CryptoGlobe has reported, “Ripple may be facing competition in the future, however, as some have claimed Facebook’s upcoming cryptocurrency could be used for remittance payments as well. The difference made by blockchain-based solutions is, nevertheless, astounding.”

Article Produced By
Robert Johnson

Robert is a keen investor with a particular interest in cryptocurrencies. He has been involved in the industry for many years, and because of this, has gathered a lot of knowledge surrounding this area. He studied English at university level and has a passion for writing. He loves being able to combine his two mains interests on a daily basis.

https://cryptodaily.co.uk/2019/03/blockchain-solutions-could-revolutionise-remittances

Thomas ClaimCo.in

RISE Aims To Take the B2B Blockchain Space By Storm

RISE Aims To Take the B2B Blockchain Space By Storm

                                

2019 will be known as the enterprise-to-enterprise boom in blockchain.

Business-to-Business (B2B) Blockchain companies will out-perform the market because they provide the tools that other businesses need in order to survive. 82% of Fortune 100 companies are researching how they can implement blockchain technology into their current business model. IBM is leading the charge in this field, however their cost of implementation is sky-high which leaves a lot of smaller businesses in the cold. This is where RISE comes in. RISE offers a low-cost, robust and flexible B2B blockchain to businesses of all sizes. There’s a lot that makes RISE stand out from the competition. Here’s an overview of some of the unique characteristics, benefits and features that make RISE the ideal choice for B2B Blockchains:

  • Blazing fast turn-arounds, RISE’s Blockchain technology offers same-day turn-key rollout of a new blockchain. 
  • Highly configurable. RISE is programmed in a fully modular way which makes changes to the core code a breeze. Transaction fee structures (dynamic or passive), level of decentralization, token supply, and much more can be adjusted with a few keystrokes. 

Even the consensus mechanism is fully modular, which means RISE is not bound to just one consensus mechanism (such as Delegated Proof-of-Stake) but the consensus module can be swapped out for one that implements Proof-of-Work, Proof-of-Stake, and any other consensus mechanism imaginable. This is unique in the blockchain space. 

  • RISE is built 100% using web technologies. The core is programmed in Typescript, a subset of JavaScript. Since there is a massive supply of web developers in the world, companies will have no problem finding developers to maintain or build out their new B2B Blockchain based on RISE. 
  • A blockchain based on RISE can handle very high transaction volumes which provides more than enough bandwidth for most use cases. Network tests have shown RISE to be capable of up to 1000 transactions per second (TPS). Compare this to Bitcoin with a median TPS of just 7. 
  • RISE Blockchain Technology has built-in data storage features, which enables developers to permanently store data on the blockchain. This makes many use cases possible, think of payment processors, a notary system, an eternity wall, supply chain management and much more.  

Aside from this list of benefits especially geared to cater to B2B, RISE has many attractive features for the general user. Let’s touch on a few of them below. The RISE wallet is universal, created using Google’s battle-tested Material UI components, making it extremely easy and intuitive to use. One wallet manages multiple accounts, is highly configurable, and fully supports the Nano Ledger hardware for optimal security. The wallet runs on all major operating systems (MacOS, Windows and Linux), a web version is available as well and is optimized for mobile use. The new RISE address system is based on bech32, which provides checksum, is very secure and QR code efficient. RISE offers an efficient TS/JS code library that makes it easy for developers to integrate RISE transactions in their own applications. 

Decentralization

The decentralized nature of blockchain technology means that it doesn't rely on a central point of control. A lack of a single authority makes the system fairer and considerably more secure. Out of the box RISE is already highly decentralized among the blockchain projects currently in existence. However, what makes RISE unique is that its level of decentralization can be scaled in a virtually unlimited fashion and fine-tuned to the specific requirements of each use case.  

Article Produced By
CryptoCompare

https://www.cryptocompare.com/coins/guides/rise-aims-to-take-the-b2b-blockchain-space-by-storm/

Thomas ClaimCo.in

Reddit Co-Founder to Stream Blockchain Game Skyweaver Face-Off

Reddit Co-Founder to Stream Blockchain Game Skyweaver Face-Off

Reddit co-founder, Alexis Ohanian, will be live-streaming a face-off match between himself and the lead developer of the latest collectible card game to hit the blockchain, SkyWeaver. Ohanian, also known as kn0thing to Redditors, has famously invested in numerous successful startups. He is now playing his hand in the crypto space thanks to his latest investment. Horizon Blockchain Games last month received $3.75 million in seed funding from Ohanian and other investors. SkyWeaver is an Ethereum-based title that hopes to take on the kingpin of all digital card games, Hearthstone. In its five year foray, Hearthstone has attracted more than 100 million players to its franchise and it’s this drawcard, so to speak, that the Reddit co-founder is banking on.

So What’s SkyWeaver’s Value Proposition Then?

That’s a good question and one that basically all boils down to asset ownership. In Hearthstone and other digital equivalents, cards are not freely transferrable. If, as a player, you move on to other gaming pastures, your years of hard work collecting prized fighters will mean jack. You can’t sell them, you can’t take them with you, and you certainly can’t give them to anyone else – unless they take control of your account, of course. This limitation has been the bane of many online card collectible players who’ve put in the time only to see very little in the way of monetary reward. Gameplay From a SkyWeaver Community Stream. | Source: Horizon Blockchain Games YouTube Channel. Then there’s the problem that experienced players face by frequently unlocking duplicate cards. The result is a frustrated fanbase with limited or zero exchange options.

As one Horizon employee puts it:

“With Skyweaver using Ethereum, it means you can send your cards to your friends, trade them with other players on our platform, trade them on another website, buy/sell them on Reddit, burn them, lend them to people that want to play with your cards while you are on vacation, etc. Basically, we can’t prevent you from doing whatever you want with these cards, just like physical cards.”

Last month, Hearthstone fans ripped into developer Blizzard for censoring the game’s long-standing art by dumbing down certain violent and sexual aspects of the cards. Could blockchain’s immutability preserve the evolution of a game’s art? It’s possible. What’s clear is the potential value of rare digital card collection. Ten years from now, hardcore SkyWeaver players may have built up an impressive set that could pocket them some serious change.

SkyWeaver Livestream Face-Off Details

SkyWeaver is currently still in private beta and is expected to launch later this year. In the meantime, Horizon is inviting new players to try out the game every week thanks to a random selection process for registered players. The game is free to play, and players will be able to build decks for free up to a point. Additional cards can be bought or traded with other players or from Horizon itself. The showmatch with Jon Loucks was initially scheduled for go-live on Aug. 8 but has since been postponed. Ohanian is the clear underdog here but will probably be more interested in evaluating his massive investment before anything else.

Article Produced By
Ryan Smith

Ryan is a web designer, writer, and cryptocurrency trader who hails from sunny South Africa. He eats, breathes and lives crypto. With experience trading the FX & Crypto markets, he's always trying to understand the bigger economic picture. When not meticulously looking over the charts, he can be found planning his next road trip or running around a 5-a-side soccer field.

https://www.ccn.com/news/reddit-co-founder-to-stream-face-off-in-blockchain-game-skyweaver/2019/08/08/

Thomas ClaimCo.in

Etihad Airways to Pilot Winding Tree Blockchain

Etihad Airways to Pilot Winding Tree Blockchain

                             

United Arab Emirate’s national airline has teamed up with a Switzerland-based blockchain

startup to provide its internal information systems. Winding Tree, a decentralized business-to-business marketplace built on ethereum, will provide logistical support for Etihad Airways’ distribution system, according to a Reuters report on Thursday. The move will allow the airline to bypass third-party operators that currently manage its inventories – such as flight times, travel itineraries, and baggage tracking. Tristan Thomas, Etihad’s director of digital and innovation, told Reuters these third parties often provide an overpriced service. Pedro Anderson, Winding Tree’s chief operating officer, redoubled that claim and

told Reuters:

“We have been doing experiments and new solutions on the platform. Ultimately, that benefits the consumer. When there’s innovation, you start to have disruption, you have competition which results in better prices for the consumer.”

“Very few have chosen to disrupt the distribution world and that’s because those are major players with very significant margins that have acted to keep that kind of a closed shop,” said Thomas In fact, Winding Tree provides real-time information systems for a number of airlines, hotels, and tourism offices around the world. In 2017, the firm partnered with Lufthansa to develop a blockchain-based travel marketplace powered by a cryptographic token. Months later, Russian airline S7 revealed it was using the distributed ledger to issue air tickets. AirFrance also combined its APIs to oversee its airline management systems. With its wide birth and ability to manage a vast array of data, Winding Tree counts not only global distribution systems run by entrenched firms like Amadeus and Sabre, but also consumer facing websites like Expedia and Booking.com as competitors.

Article Produced By
Michael Williamson

https://www.icogeeker.com/etihad-airways-to-pilot-winding-tree-blockchain/

Thomas ClaimCo.in

Blockchain Conference Moscow: New Concept Relevant Topics and Insider Information

Blockchain Conference Moscow: New Concept, Relevant Topics, and Insider Information

Smile-Expo International Company has held 50 blockchain events in 24 countries since 2014.

Major crypto events successfully took place in Europe, Asia, and

the CIS countries. 

We regularly analyzed the market, thoroughly monitored industry news, talked to experts, and obtained plenty of requests from the community on holding the conference in Moscow. Therefore, the 51st blockchain event will be carried out there, and the format will be a strong reason for participation.    

The ninth Blockchain Conference Moscow will take place on October 3. It is the only place that will allow you to get the latest knowledge about alternative finances, enjoy efficient networking with top blockchain community members, as well as examine new solutions and case studies within a single day.   

The event will be divided into two blocks:

  • Blockchain in business.
  • Insider information, forecasts, and prospects.

The first block will focus on the industry regulation, cybersecurity at the age of cryptocurrencies, and the application of distributed ledger technology in various business niches.
The second block will tell the audience about secrets of successful investments, features of IEO projects, stablecoin future, and use of cryptocurrencies in gambling.  

Exhibitors will present new technological solutions for the blockchain sector. The demo zone will bring together representatives of blockchain and trading companies, startupers, cryptocurrency exchange owners, investment funds, and many other participants. It will become a platform where everyone will be able to present their projects, examine advanced solutions, find new partners and customers.   

Participation in Blockchain Conference Moscow means:

  • receiving insider information from the blockchain and cryptocurrency world;
  • discovering about new tools for business promotion;
  • introducing yourself and finding investors to support your ideas.

The event is organized by Smile-Expo, an international company holding specialized ?2? and ?2? events across the globe. Save the date and hurry up to buy a ticket at the best price. 

Article Produced By
Bitcoin Garden

This content is brought to you by the Bitcoin Garden staff.

https://bitcoingarden.org/blockchain-conference-moscow-new-concept-relevant-topics-and-insider-information/

Thomas ClaimCo.in

Satoshi Awards to Honor Ethical Innovation on the Blockchain’

Satoshi Awards to Honor ‘Ethical Innovation on the Blockchain’

                            

Know anyone in the cryptocurrency world who could use some extra recognition?

Nominations will open soon for The Satoshi Awards. The awards will premiere at a ceremony in Acapulco, Mexico in February 2020 with the theme “Honoring Ethical Innovation on the Blockchain”.

Prominent Libertarians Head Nomination Committee

The Satoshi Awards organizers also added three well-known names from the libertarian space to their nominating committee: economist Jeffrey Tucker, CoinText founder and “Gigolos” star Vin Armani, and Bitcoin.com CEO Roger Ver. The committee will choose finalists in 12 categories (yet to be determined). They will assess entrants determined to have had “the greatest impact on the spreading acceptance and ethical use of cryptocurrencies to the benefit of humankind”.

Those interested can suggest category ideas by visiting the Satoshi Awards website. Other names on the committee include “Psychological Anarchist” Sterlin Lujan, Crypto Adventures founder Elsa Ramon, Coinbase senior engineer Josh Ellithorpe, and EOS’s Adrianna Mendez. The public will choose the eventual winners, via a tokenized voting system to guarantee transparency and fairness.

Satoshi Awards Open to All Blockchain Projects

Given the selection committee and the event’s timing — which coincides with the annual “Anarchapulco” conference for anarchists and libertarians — expect the selections to lean in that direction. However nominations will be open to anyone in the cryptocurrency space, and according to organizers will not favor any particular blockchain protocol. Satoshi Awards founder Steve Ellis, who will host the ceremony, is promising a memorable event:

“The show we have planned will set the standard for awards ceremonies in this space. I’m really excited about the direction we’re taking and so are our sponsors,” he said. Nomination committee members and organizers plan to meet once a week to discuss updates and decide the overall format for the awards event. They’re also looking for official sponsors and partners, and have announced DASH Thailand and DASH Now as the first two, based on those organizations’ drive to promote cryptocurrency in Asia.

Article Produced By
Jon Southurst

https://bitsonline.com/satoshi-awards-ethical-innovation/

Thomas ClaimCo.in

What Is the Blockchain Trilemma?

What Is the Blockchain Trilemma?

                                 

Decentralized cryptocurrency platforms such as the Bitcoin (BTC) and Ethereum (ETH)

blockchain networks have allowed users throughout the world to exchange data and monetary value in a peer-to-peer (P2P) way. Most crypto transactions are settled without the need for middlemen or intermediaries – which can result in reduced costs and greater efficiency. However, the blockchains of today face various challenges including technical design limitations such as their inability to scale effectively. The majority of existing blockchains may also be susceptible to various security vulnerabilities and certain distributed ledger technology (DLT)-based networks such as EOS and NEO have been criticized for being prone to centralization.

Technical Challenges: Scalability, Security, and Decentralization

Commonly referred to as the “blockchain trilemma”, the three main challenges faced by public, permissionless, DLT-enabled networks include scalability problems, security-related issues, and ensuring an adequate level of decentralization. While some developers, including the creators of IOTA, believe that the blockchain data structure itself has inherent limitations that prevent it from scaling, many software architects believe that it’s possible to build scalable blockchains. 

Can Proof of Work Blockchains Scale Effectively?

However, most of the newer or second and third-generation blockchains have not been developed using Bitcoin proof-of-work (PoW)-based consensus algorithm. In addition to requiring users to engage in the environmentally harmful process of mining, critics of the PoW consensus protocol argue that it significantly reduces the throughput capacity of a blockchain network. In fact, data from statoshi.info (a website that provides the latest statistics for the Bitcoin network) shows that the PoW-powered Bitcoin blockchain is only processing an average of 3.85 transactions per second (TPS). 

Proof of Stake Chains Might Be Scalable, But Are they Secure?

Since most enterprise-grade applications and modern business networks require a far greater throughput, a large number of newer cryptocurrency platforms have moved away from the PoW-based consensus mechanism. Instead, major blockchain-enabled platforms such as EOS, Cardano (ADA), and Tron (TRX) use some type of proof-of-stake (PoS)-based consensus algorithm to validate transactions on their networks. Although PoS-powered networks generally deliver much higher throughput than PoW chains, there can be certain security risks that might discourage users from adopting the proof of stake consensus model.

Block Producers Allegedly Collude, Engage in “Mutual Voting and Payoffs”

In August 2018, Twitter user Maple Leaf Capital, an EOS investor, alleged that certain EOS block producers including Huobi had been colluding by engaging in “mutual voting and payoffs.” In an excel spreadsheet shared via Twitter (at that time), Maple Leaf revealed that Huobi and many other BPs had consistently been engaging in mutual voting in order to “cement” their positions as EOS network transaction validators. Moreover, Maple Leaf claimed that Huobi had been openly voting for a select few BP candidates in exchange for payoffs in EOS tokens. Indeed, these types of incidents raise serious concerns regarding the effectiveness of delegated proof-of-stake (DPoS)-based blockchains in creating a trustless and open network.

Are Proof of Stake Chains Truly Decentralized?

In addition to network integrity and security-related issues with PoS chains, several analysts have argued that large PoS-powered networks such as Tron and EOS are not truly decentralized. According to many crypto industry participants, a cryptocurrency network may become increasingly centralized when there are only a few network participants that are responsible for validating transactions. For instance, there are only 21 and 27 block producers that validate transactions on the EOS and Tron (TRX) blockchains, respectively.

EOS Downgraded for “Serious Centralization Issues”

Although the creators of EOS and Tron claim their BPs are chosen based on a “democratic” voting process by their community members, critics argue that the control and the responsibility of managing a blockchain-based platform should be more evenly distributed among all network participants. In June 2019, Weiss Crypto Ratings, an organization that assigns ratings to different cryptocurrencies based on their performance and technical design, downgraded EOS due to “serious centralization issues.” One of the reasons why EOS may be considered centralized (to some extent) by some users is due to its controversial voting system – which seems to favor users who have a large stake in the network (holding a large amount of EOS tokens).

Are Proof of Work Networks Decentralized?

While the developers of PoS-based blockchains have been criticized for creating centralized platforms, the PoW-powered Bitcoin (BTC) network might also be prone to centralization. In February 2019, the Canaccord Genuity Group, a Canada-based financial services company, confirmed that GHash.IO, a BTC mining pool, had been controlling as much as 50% of the Bitcoin network’s hashrate.

Researchers at Canaccord had argued that the world’s most dominant cryptocurrency could have been “vulnerable” to a potential 51% attack. In these types of attacks, a single entity manages to acquire the majority of a network’s hashpower and then uses it to engage in double-spending or launch other types of attacks on a blockchain network. However, the research team at Canaccord claims that, as of February 2019, no single BTC mining pool controls greater than 20% of the cryptocurrency’s hashrate. Significantly, only five bitcoin mining pools still reportedly control between 10-20% of BTC’s hashrate. 

Is It Necessary to Solve the Blockchain Trilemma?

Bitcoin (BTC) maximalists have argued that the security and decentralization of a blockchain network are more important than on-chain scalability. Samson Mow, Chief Strategy Officer (CSO) at Blockstream, has said that BTC transactions need not be fast because the leading cryptocurrency’s main use case is to serve as a store-of-value (SoV). Since many BTC supporters, including former Google engineer Vijay Boyapti, believe that Bitcoin’s value proposition does not depend on its ability to mainly function as a mode of payment, they may not think it’s necessary to solve the “blockchain trilemma.” 

Notably, prominent Bitcoin developer Jimmy Song has also stated on several occasions that the BTC blockchain should not be thought of as a technology that requires constant innovation – such as enhancing the network’s scalability. Instead, off-chain, layer-two scalability solutions such as the Lightning Network (LN) are being developed – in order to expedite micropayments made with bitcoin.

Article Produced By
Omar Faridi

https://www.cryptocompare.com/coins/guides/what-is-the-blockchain-trilemma/

Thomas ClaimCo.in

How blockchain impact the healthcare industry in upcoming years?

How blockchain impact the healthcare industry in upcoming years?

                                

Thomas ClaimCo.in

Keychain and Chubu Electric Power conduct verification testing on peer-to-peer trading that uses blockchain technology

Keychain and Chubu Electric Power conduct verification testing on peer-to-peer trading that uses blockchain technology

                                

On July 1, Keychain, a limited liability company which develops and provides Keychain Data Provenance Infrastructure (DPI)

blockchain-based data security technology, announced that it had conducted verification testing on personal authentication that uses blockchain technology, issuance of digital assets, and peer-to-peer trading using distributed ledger technology at the Technical Development Department (Midori-ku, Nagoya City) of Chubu Electric Power < securities code: 9502>.

The verification testing was designed for three-way trading among a digital asset issuer, users (about 30 users this time), and merchants. According to the announcement, Keychain performed the implementation process between late November 2018 and mid-April 2019, while about 30 employees of the Technical Development Department, Chubu Electric Power carried out verification testing between late April and early May 2019.

The three targets of verification testing were: (1) Verifying the effectiveness of Keychain blockchain as a personal authentication infrastructure; (2) Issuing of digital assets by Chubu Electric Power and verifying double transfer and falsification risks; and, (3) Verifying application of an Android app that can use distributed ledger technology for payments at a cafeteria, peer-to-peer payments, and other transactions. The company reported that verification testing verified blockchain technology functions as a personal authentication infrastructure; digital assets can be issued using distributed ledger technology; and, peer-to-peer trading can be conducted without causing double transfers or falsification.

Article Produced By
Fisco

https://bitcoinwarrior.net/2019/07/keychain-and-chubu-electric-power-conduct-verification-testing-on-peer-to-peer-trading-that-uses-blockchain-technology/

Thomas ClaimCo.in