Month: September 2017

Imagine using a highly touted security feature, only to see it backfire in the most spectacular way, causing you to lose more than just time but also money. Now imagine it happening to a Bitcoin wallet that you’ve carefully guarded for the past few months or years. It surely isn’t a pleasant thought. More than … Continue reading Hackers Find Exploit Through SS7 SMS 2FA to Empty Bitcoin Wallets

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The number of use cases for blockchain technology is virtually limitless. Although most efforts focus on the financial sector in one way or another, Hanson Robotics envisions a very different future. The company wants to harness blockchain technology to make its artificial intelligence smarter. To that end, it is working on a blockchain-based marketplace where AI developers can share their work.

Bringing AI and Blockchain Together

It is quite an ambitious project by Hanson Robotics. The company is best known for its Sophia robot (click the link to discover why it made headlines recently), yet it is also working on a few other projects. One of these concepts involves a blockchain-based marketplace where artificial intelligence developers from all over the world can share their creations.

That is a rather intriguing concept, as it is one of the first times we’ve seen a company actively trying to bring AI and blockchain technologies together. Everyone connected to this decentralized marketplace will be able to access the shared AI creations and use them to enhance existing robots. Additionally, they can use the software as a foundation to build bigger and better hardware in general. The project creates an unlimited number of possibilities; that much is certain.

For the time being, this project goes by the codename of SingularityNET. It may not be the Skynet threat so many are afraid of, but being able to share developments in the artificial intelligence sector may certainly get us there sooner or later. Then again, it is important for developers all over the world to showcase their work and make sure the rest of the planet can experience its benefits. It will be interesting to see how this venture plays out. The concept of AI merged with the blockchain makes a lot of sense to the company.

Even though there is no shortage of potential blockchain applications, it seems the majority of ideas on the platform revolve around the same concepts: digitizing tokens or paying for functions. This technology has great value in the financial sector, but there are so many more potential applications these days. The Internet of Things, artificial intelligence, and who knows what else are just some of the options to explore in the future.

This does not necessarily mean we will suddenly see a decentralized AI being developed, however. Blockchain technology will only be used to power the new marketplace, rather than the AI technology itself. It is not entirely impossible we would see a decentralized AI at some point in the future, but for now, it is not the plan whatsoever. It is good to see this marketplace being created, though. There is plenty of development in the AI sector as we speak, yet few of these solutions can be actively shared through a convenient platform.

It is unclear when SingularityNET will come to fruition, though. For now, Hanson Robotics is still seemingly in the early stages of development. Creating such a decentralized marketplace takes time and effort and may not be available for public use until a while from now. The bigger question is whether or not we will see more efforts in this regard. Artificial intelligence has been one of the most interesting industries as of late; that much no one can deny.

A lot of cryptocurrency speculators are still keeping a close eye on the NEO price charts. That is only to be expected, as this particular currency has seen multiple ups and downs as of late Over the past two weeks, the NEO price has more than doubled once again. An interesting trend, especially when considering there is more room for growth on the charts.

NEO Price Gains Ground Above $30

Even looking back at the past seven days, it is not hard to see why speculators are getting involved in NEO. On September 23rd, the NEO price was hovering around the $20 mark. Although it had dipped to nearly $16 a week prior, the $20 level was still more than low enough to buy in cheaply. Those speculators who have held onto their NEO stash will see a 50% profit today, with perhaps more profit to come in the coming days.

What makes NEO so interesting is how it is mainly designed to woo Chinese investors. Providing a solution similar to Ethereum but specifically for the Chinese market is quite ambitious. The recent ICO issues in China have caused some setbacks for the project, but it appears things are still heading in the direction regardless. Development of this currency and its associated services is still underway as we speak.

This quick recovery has caused a lot of new investors to take an interest in NEO over the past two weeks. Seeing the NEO price hover around $31.5 right now goes to show the people who bought in over the past 14 days have made a smart decision, even though things could have easily gone the other way as well. There are always risks associated with investing in cryptocurrency, as there is plenty of market manipulation going on every single day.

Considering how NEO still has a rather low trading volume, it doesn’t take much money to move the markets in either direction. Over the past 24 hours, we have seen $53.5m worth of trading volume, which is very low compared to some of the other top currencies. Then again, on a Saturday or Sunday, these numbers will not increase by much. In fact, the volume may even go lower in the coming hours, but that won’t necessarily affect the price in a significant manner.

No one will be surprised to see most of NEO’s trading volume comes from Bittrex, as it has all week. However, the gap with Binance and Bitfinex is a lot smaller than it was earlier this week. An interesting trend well worth keeping an eye on moving forward. The demand for this particular altcoin is surging, by the look of things, although it remains to be seen if this is mainly due to speculation or any other reason.

No one can deny NEO has become a pretty attractive currency when it comes to short-term gains. Whether or not this will translate to long-term gains and a stable price in the future, remains a big question. No one will deny the market momentum is certainly there, but if NEO continues to only target China, its potential may become somewhat limited at one point. It will be interesting to see how the developers plan to handle the future. For now, things are looking pretty good.

Decentralized exchange solutions will be a major blessing for the cryptocurrency world. Right now, too many people have to rely on centralized services, which carry a lot of risk and inconvenience. Loopring is a new decentralized exchange protocol well worth keeping an eye on. It contains a decentralized automated execution system to protect users from counterparty risk.

Loopring Focuses on Decentralization First and Foremost

One can never have enough decentralized solutions at one’s disposal, and this is especially true in the cryptocurrency world. Although all digital currencies are designed to be decentralized, most of us gladly use centralized platforms to buy, sell, and trade this new form of money. It is the opposite of how things should be evolving. Thankfully, some changes are on the horizon in this regard.

Loopring is a decentralized exchange and open protocol which may herald some interesting changes for the cryptocurrency sector. More specifically, the goal is to shield users from counterparty risks, perform decentralized automatic trades, and reduce the overall cost of buying and selling cryptocurrency. It has all the hallmarks of a big game changer, although it is still too early to tell whether or not it is a feasible concept. Loopring removes a lot of risk factors by not forcing users to send tokens or currencies to a centralized custodial entity.

Instead, all tokens will remain in their blockchain-based addresses and under the control of users themselves. Loopring will also automatically adjust the trading amount at the initial price, allowing users to transfer tokens even after submitting orders. It is an interesting concept which demonstrates why decentralized trading solutions are vital to the cryptocurrency sector. Moreover, with no centralized platform to attack, there will be no DDoS attacks or exchange bankruptcy concerns.

Furthermore, Loopring specializes in order sharing. All orders can be broken up into smaller pieces to identify the best exchange and ideal time to trade each batch. The result is an optimized trading outcome without the need to rely on one single platform. Considering that this protocol can trade across all crypto-token exchanges in the world today, it will be pretty interesting to see how this solution performs in a real-time environment.

Additionally, Loopring uses a technique known as ring-matching. Its automated trading intelligence is capable of interfacing with various exchanges and blockchains. As a result, the protocol should never see any major liquidity issues whatsoever. The protocol is designed to generate liquidity within the platform and spread out orders across multiple exchanges. Plus, the cross-chain aspect of Loopring makes it all the more appealing. All it needs is a blockchain with smart contract support to properly execute.

All things considered, Loopring may have what it takes to make decentralized trading a reality for cryptocurrency enthusiasts. Although it remains to be seen if this will actually happen, one has to admire the idea as a whole. The whitepaper associated with this concept contains a lot more valuable information on how Loopring will work and behave. For now, though, it is unclear if and when any blockchains will integrate this concept.

A new application of Blockchain technology would create a decentralized way to stop DDoS attacks.

While in its earliest stages of development, a new form of cryptography is winning developers for its potential to power truly private blockchains.

We are just under a decade removed from Satoshi Nakamoto introducing Bitcoin to the world. Since then, there have been a flurry of disruptive technologies and numerous communities around cryptocurrencies of all stripes. Fortunes have been made and lost in whirlwinds of investors entering and exiting the space. We have seen schisms break open and communities unite. To suggest that cryptocurrency is only one thing does it a disservice. Crypto is not going away, because it lives on in the most human way possible. More than anything else, cryptocurrencies are communities.

Finding Humanity in Cryptocurrency

With all the focus on prices these days, I wanted to remind people why cryptocurrencies are great in the first place. Of course price is important, but it is far from the most important aspect.

Money, exchange, and monetary systems are ubiquitous throughout recorded history, and for good reason. At their core, communities are based around ideas of reciprocity, gift-giving, and social debts (Mauss, Halls, 2000). Money or other mediums of value exchange are a profoundly powerful form of interaction that creates and strengthens social bonds. Trade and money make a lot of sense as a basis around which communities are built.

Cryptocurrencies offer a pure basis on which to build these interactions by virtue of their peer-to-peer nature. Without the need for a centralized mediator of transactions, we have seen the community generative power of cryptocurrencies firsthand. The number of Bitcoin users and holders alone has skyrocketed in the short time since its inception. If only price mattered, would the community really have survived? Maybe not. Rather, it and other crypto-communities have been tempered by the fires of price volatility.

Dogecoin provides what could be an even more apparent example of this. Our readers will know that I have a soft spot for Dogecoin particularly because of its funloving and active community. Dogecoin users demonstrate (among other things) that cryptocurrencies are not only about price, and that they are more importantly about building and maintaining community. 

To that end, physical meetups are popular as well; such community is not relegated to online spaces only. Even when they’re not exchanging cryptocurrencies directly, communities continue to build up around these digital entities. How cool is that?

This is not to say that cryptocurrency communities are not also plagued by division, drama, and the other shortcomings of humans. Turmoil in communities can be ugly, but it is wholly human. While we would hope to keep such instances at bay, it is important to remember that they are symptoms of all community and not unique to cryptocurrency alone.

New investments and users pouring into cryptocurrencies definitely helps pump up prices and raise awareness, but sustainable value comes from an active and engaged community. In Bitcoin’s whitepaper, Nakamoto uses terms like “peer-to-peer network” and describes processes for voting – an integral part of healthy communities – multiple times, but does not mention “price” even once (Nakamoto, 2009).

At the end of the day, cryptocurrencies are here to stay not because of their prices, but because they are excellent catalysts for communities.

Yet more figures from the world of investment and venture capital are speaking up about cryptocurrency. This time it’s the turn of Fred Wilson a prominent investor, and co-founder of Union Square Ventures. In a lengthy post on his blog, he warned of an impending crash in the space. He writes,  “I am certain the … Continue reading Fred Wilson, Prominent Investor in Cryptosphere has Mixed Feelings About Bitcoin

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Why South Korea still positioned well on the Ethereum market despite its coming ban on domestic ICOs.

Despite the weekends usually being pretty boring for cryptocurrency trading, today may prove to be a good day after all. More specifically, the Bitcoin price is on the rise once again in an effort to successfully regain a  foothold at $4.250. That plan of action seems to work out so far, although there is still a lot of work to be done before it is considered a stable bottom.

Bitcoin Price Reaches $4.250 yet Again

This past week has been pretty interesting for Bitcoin traders, enthusiasts, and speculators all over the world. After a period of sideways trading and a borderline bearish trend, the Bitcoin price has finally picked up again. Earlier this week, we saw the Bitcoin price surpass $3,750 again, which was promptly followed by an increase to $4,000 and slightly above.

As one would come to expect these days, such a strong price increase won’t go without correction shortly after. Once the Bitcoin price reached $4.200 a few days ago, the value started dipping almost immediately. Although the price has not gone below $4,000 again, it was only certainly a possibility two days ago. Thankfully, we never got to that point, and the uptrend has being resumed ever since.

As of right now, the Bitcoin price hovers around the $4,260 mark, which is a lot higher than people would have expected for a Saturday. One thing to keep in mind is how weekends can often introduce volatile price swings and Bitcoin has not been an exception in this regard these past few weeks. Then again, most of the “worrisome” news is well behind us and ha no real impact on the global Bitcoin ecosystem whatsoever.

Surprisingly enough, we see slightly more Bitcoin trading volume compared to previous weekends. Albeit the difference is nothing dramatic by any means, it is good to see over $1,1bn in 24-hour trading volume. Bitcoin’s market cap has also surpassed $70.5bn once again, yet it remains to be seen if and when we may finally reach that illuster $100bn mark. No one will deny Bitcoin is by far the most dominant cryptocurrency these days, as it leaves every single altcoin in the dust.

Just like the rest of the week. Bitfinex is still the largest exchange ranked by Bitcoin trading volume. bitFLyer and Bithumb complete the top three. Asian interest in cryptocurrencies has not waned one bit despite regulatory measures introduced in China, South Korea, and potentially other countries in the future. Bitcoin is not going away whatsoever, that much is evident. It is remarkable how bitFLyer and Bithumb trade Bitcoin over $100 below the Western platforms, though.

All things considered, things are looking pretty good for the Bitcoin price in the long run. This latest minor uptrend is not necessarily significant, but it is better than a temporary price reversal. Whether or not we will see the Bitcoin price head back to $4,500 anytime soon, remains to be seen. The momentum is seemingly changing in favor of Bitcoin right now, although it remains to be seen how things evolve in the coming weeks and months.

The SEC has made good on its promise to fight corrupt ICOs claiming to give large returns to customers by filing charges against REcoin and DRC.

Recent price jumps in companies with cryptocurrency exposure suggest that Bitcoin is the new Wall Street buzzword.