Day: November 16, 2017

The launch of Bitcoin Gold has been quite challenging, which was only to be expected. It now turns out there are a lot more issues under the hood than previously believed. One source claims there is a hidden fee in the code for mining pools. Even though this has been pointed out previously, there are no plans whatsoever to remove it. It’s another indication of malicious intent by the developers of an altcoin no one wanted in the first place. The future of BTG looks even more uncertain than it did before.

Bitcoin Gold Pool Mining Code

When the Bitcoin Gold project was announced, a lot of the required information was kept under tight wraps. The source code of this project has been kept hidden for so long, it almost seemed as if the project had died out before the actual launch. Thankfully, the code was eventually unveiled, although it hasn’t necessarily redeemed the project or its developers. In fact, a lot of new information has come to light that raises even more questions regarding the coin’s legitimacy.

Especially when it comes to the code required to set up Bitcoin Gold mining pools, there have been some very interesting developments. It turns out someone discovered irregularities in the code which hint at hidden fees. This was not done by accident either, as it was a conscious decision by the Bitcoin Gold development team. Considering that this altcoin also has a big premine, stealing funds from miners is unacceptable. 

It seems the hidden fee is hard-coded into the z-nomp fork advertised by the developers. Developer StarbuckBG mentioned that he was aware of this development and decided not to merge it into the main code. However, the code will not be removed either, which means the Bitcoin Gold developers are willingly stealing money from BTG miners. That doesn’t mean that mining pool operators can’t remove the code, though, but if they remain unaware of its existence, they will not do so anytime soon. It’s a very troubling development for an altcoin trying to ride Bitcoin’s coattails.

So far, it seems the fee in question is 0.5% of all block rewards. For their part, the BTG developers see no issue with this since it can be removed or changed by pool operators. At current prices, that means around 0.06 BTG per block  – worth around US$10 – is simply given to the developers. It is a very dubious way of getting paid for something they seemingly created in a week or less. Combine this hidden fee with the major premine and it becomes evident that Bitcoin Gold will not be around for much longer.

The wider cryptocurrency community isn’t too happy about this development, which is only to be expected. The code was used to run the only mining pool available during the first few hours following the coin’s launch. At that time, the rest of the community experienced issues syncing the blockchain due to the many forks created in the process. This source code was recommended by one of the main Bitcoin Gold developers, all the while knowing it contained a hidden fee structure. There is no reason whatsoever to trust this project.  

How all this will play out for Bitcoin Gold remains to be determined. It is doubtful most people will still wait for their free coins after knowing all this. Nor will most people continue to mine this currency given the shady tactics employed by its developers. Unfortunately, our initial assumption about Bitcoin Gold has been confirmed. The project never had any honest intentions and it shouldn’t have existed in the first place.

Genaro Network is the first of its kind blockchain project comprised of a Turing-complete public chain integrated with a decentralized storage network. The network runs on its own public blockchain to create an entire ecosystem on which decentralized applications (known as DAPPS)can be built. The platform offers a great deal of flexibility by allowing the deployment of smart contracts while providing a permanent and private method of storing their data, videos, documents and other file types. It is also highly secure compared to other conventional systems and can be used by other blockchain solution providers as a replacement for cloud-based storage.

The Genaro ecosystem is designed to provide a range of advantages for Internet of Things and Big Data implementations along with both added transparency of records and privacy of data for DAPPs and their users. The data is securely stored on the Genaro Network, and it can only be decrypted by using the private key belonging to the file owner.

The Genaro team has proposed to build a network on which many applications can be developed, which is the opposite approach the existing cloud network infrastructure today, which is a combination of different applications.

Technically speaking, by creating a hybrid of SPoR (Sentinel Proof of Retrievability) and PoS (Proof of Stake), the platform aims to offer a highly scalable and efficient solution that can overcome the shortcomings of the existing distributed storage and sharing solutions. A combination of smart contracts and decentralized storage makes use of unused storage space and processing power contributed by the network participants. Genaro thereby eliminates the need for high-end data centers with centralized storage, which are more prone to security breaches, not to mention the need for additional resources to set up such a system. It also ensures the almost fool-proof protection of intellectual property.

Mission

“The Genaro Network aims to drive the evolution of blockchain 3.0, the next generation of blockchain applications platform, to make DAPPs as useful as Internet APPs.”

At the same time, Genaro believes in adding value to society, which it upholds by giving back to the community. This combination paves the way for Genaro to set the foundation for the future of cryptocurrency technology and its implementation – Blockchain 3.0. In doing so, the project puts the power of controlling and managing the data back into the hands of its owners rather than large media and advertising networks, for example.

The Social Cause

The creators of Genaro believe in community development. Apart from building the first Turing-complete public chain with a decentralized storage network, they are actively involved in supporting the tech community by introducing them to the benefits of a Blockchain 3.0 paradigm.

As a part of its community initiatives, Genaro has set up its Genaro Hub and Accelerator to foster innovation in the development of decentralized applications. The real-world services offered by the Genaro Network are available for everyone irrespective of whether they belong to the Genaro community and they can even be utilized with the platform’s GNX tokens.

The Genaro Hub is designed to provide users with a range of services including food, lodging, and drinks alongside the blockchain network infrastructure, offering an ideal environment for interaction with community members. Genaro encourages a Silicon Valley-style co-living, co-creating, and co-working culture. Unlike the Genaro Network itself, which is a non-profit foundation based in Singapore, the Genaro Hub and Accelerator is set up as a social enterprise model, doing business while doing good for the ecosystem.

Towards Decentralized Future

In addition to providing a data storage platform for DAPPs, individual users will also be able to access the Genaro Network through their personal computers or smartphones. It provides stored data and files to the users at whatever location they are in as long as they have access to a smart device. The network also allows users to share their data with others.

The GNX tokens can also be used for sharing and buying storage space on the network. The transactions on the platform are managed by smart contracts, ensuring efficiency and complete automation of the system. The platform expects its community initiative to give rise to thousands of DAPPs, and a number of other blockchain projects making use of Genaro’s infrastructure, to provide many new services to their users.

The Creators

The unique community-driven initiative is the brainchild of a team of social innovators and tech entrepreneurs with experience working for companies located in Shanghai and Silicon Valley.

Genaro Network has all the hallmarks of becoming the future’s best-decentralized app development and storage platform with high reliability.  More information about the platform can be found at the platform’s official website.

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“It’s impossible,” a CME Group clearing member has told regulators about Bitcoin futures trading next month.

American Express just had its “Charles Lindbergh moment,” using Ripple’s blockchain to connect Santander clients in Europe and the U.S.

The petition claimed that the digital currency can be utilized in executing untraceable transactions across borders, making it an attractive tool for tax evaders and ransomware attackers.

While most people are keeping a very close eye on the top cryptocurrencies, interesting things are happening outside of the top 10 as well. The Lisk price has seen a pretty solid run over the past few months and it’s now inching closer toward that $10 target. Its market cap has also surpassed $1bn for the very first time, which is pretty interesting. Cryptocurrencies as a whole continue to grow, that much is rather evident.

Lisk Price Trend Should not be Ignored

There are quite a few cryptocurrencies a lot of people tend to overlook these days. In most cases, that is only normal, although some of these altcoins can sometimes come back in a major way. The Lisk price is an interesting example of how quickly things can evolve in the price department. Especially the past three months have been pretty spectacular, as the Lisk price went from under $2.5 all the way to the current value of $9.83.

It is always remarkable how altcoin prices evolve over time in the past few years. In the case of the Lisk price, the price growth is certainly visible for everyone to see. While most people aren’t necessarily paying attention to this currency, it is evident there are some good things happening for this altcoin. Considering there doesn’t appear to be a specific Lisk supply cap, very few people ever expected this currency to be worth more than $1, let alone achieving almost ten times that value.

The growth from under $2.5 to nearly $10 has materialized over just three months. A 400% increase in value is pretty spectacular for any cryptocurrency, especially one that seems to fly under most people’s radar. There have been some interesting developments in regards to Lisk, even though it remains to be seen how this market growth will be sustained in the long run. The rise from $5 to $9.83 has materialized in just a week, which seems to indicate there may be a pump factor involved as well, though.

With $124m worth of 24-hour trading volume, Lisk is certainly in higher demand than some of the top 10 altcoins by market cap. That in itself is always a very strange development to keep an eye on, as it may hint as unnatural growth. We have seen similar trends affect other altcoins in the past few weeks, and it is very likely the Lisk price will come down toward the $6 level in the coming weeks. At the same time, cryptocurrency is not a rational market, and much stranger things have happened as well.

For once, we don’t see Bithumb dominating the trading volume for a currency which is surging in value. The Lisk price is driven by volume from Bittrex, Poloniex, and BitBay in that order. These first two exchanges related to a Bitcoin-based trading pair, whereas BitBay uses PLN as the main currency for LSK. There are only three exchanges which generate over $5bn in volume, though, as the top three represents 90% of all Lisk trades right now.  A somewhat dubious trend, but it is too early to tell where things will head next.

One thing to keep in mind is how Lisk is now an attacking with a market cap of over $1bn. A few months ago, we had a handful of currencies worth that much money. Right now, there are 12 currencies in this “elite club”, with at least one more on the cusp of breaking this barrier later this week. The growth of cryptocurrency, in general, has been pretty spectacular, that much is evident. How things will play out for the Lisk price, remains to be determined. A lot of strange things are happening in the world of cryptocurrency right now, that much is certain.

The payment system intends to provide a means for different cryptocurrency networks to interoperate with each other.

Well-known specialized portal icorating.com has prepared a comprehensive analysis of Universa token sale with a detailed study of its technical features, project team and future perspectives. As has been mentioned before that the rating “Stable+” means Universa is strong enough for people to trust it: «We recommend participating in the Universa ICO to long-term investors. Tokens will gradually grow in price during the crowdsale,» says the expert.

In the first place, the Universa authors note its advantages above other blockchain projects. Unlike many crypto start-ups based on the existing protocols, Universa team focuses on developing their own, fundamentally different blockchain, which could easily work with any other protocol only using important data and connecting it within the developed protocol framework. Universa offers personal smart contracts for performing various types of operations for any type of business. All records on the blockchain will be decentralized, and operations can be performed asynchronously. There will also be no miming. All these is achieved through the DAG technology.

No mining implies that Universa is a currency-free protocol. UTN token has been created in order to pay commissions to the nodes. The Universa blockchain protocol is based on smart contract similar to the one of Ethereum. Along with the possibility to connect with other smart contracts, thus creating tree structure operations, Universa smart contracts can be stored offline until the data is transferred to the network. Universa describes itself as a project offering a crypto-protocol for the common use, able to compete with the most influential cryptocurrencies. The founders of Universa see it as an innovative platform for multi-protocol smart-contracts.

For the project successful development, it will be enough to raise a smaller amount of funds as compared to the stated hardcap of $ 99 million. In fact, the already collected sum of $ 10 million is sufficient for Universa to achieve its plans. This minimum amount is reflected in the detailed budget plan, and allows the team to implement all basic functionality. In conclusion, the rating agency suggested once again that the announced functionality of Universa blockchain protocol will be in demand in the near future, so the project seems to be gaining ground rather quickly.

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Bitcoin is showing no signs of stopping its recent upwards surge. As prices climb once again, are new highs on the horizon?

Blockchain-based real estate platform Prime-Ex Perpetual is going to launch the token sale of its institutionalized tokens on November 15th, 2017.

PEX-Tokens will be available to be purchased from Prime-Ex Perpetual’s official website at the rate of $1.00 USD-equivalent per unit. Prime-Ex Perpetual has already sold over 3 million PEX-Tokens in a pre-ICO round. It started on November 1, 2017, and ended on November 8, 2017.  Prime-Ex Perpetual has secured its minimum targets of the campaign.

With a successful pre-ICO round behind, the next ICO round could be even more successful. In it, Prime-Ex Perpetual will issue a total of roughly 22 million PEX-Tokens for public sale.  This is a terrific opportunity to purchase PEX-Tokens ahead of its distribution to the DEX Exchange near the beginning of December.

The raised funds are building residential real estate in Panama that will prove to be the backbone of Prime-Ex Perpetual’s ecosystem in the future. To those who are unaware of this ecosystem, it is a tokenized system that allows expats to purchase residential properties with simple financing and mortgage payment options. Here, PEX-Tokens will prove to be this economy’s centerpiece, allowing easy and quick payment settlements, while incentivizing homebuyers at the same time.

For holders, PEX-Tokens will also prove to be an investment option as they will keep earning 80% of the company’s audited net profit every year.

Prime-Ex Perpetual’s CEO, John Gilbert, stated:

“Crossing over the 2,500,000 PEX-Token thresholds for token sales was a major achievement for us. We are eager to get out there and begin building the homes today that will be the backbone of our ecosystem tomorrow. Prime-Ex Perpetual will now start implementing its unique residential real estate ecosystem and breaking ground on the first houses in Panama.”

You may learn more about Prime-Ex Perpetual at https://prime-ex.com and participate in their ICO at https://ico.prime-ex.com.

The post Prime-Ex Perpetual ICO Goes Live on November 15th appeared first on NEWSBTC.

Play2Live, a blockchain-based streaming platform for gamers and eSports fans has announced the joining of David Drake the Chairman at LDJ Capital and Victor Martyn the CEO at GosuGamers to its advisory board. With an upcoming token pre-sale that is scheduled to take place December 5th to 19th, Victor and David will give counsel on business development, marketing, and investor relations.

A Managing Partner at LDJ LP Fund Investments, a multi-family office; Victoria Partners, a 300 family office network based in London; LDJ Real Estate Group and Drake Hospitality Group; and The Soho Loft Media Group with divisions Victoria Global Communications, Times Impact Publications, and The Soho Loft Conferences. David Drake has acted as GP & LP investors with his partners in fund-of-funds, realty funds, venture capital funds & hedge funds whose investments currently have 50+ global directors that maintain relations with institutions & family offices with $1.5 trillion in assets. As an advocate of innovative investing in early-stage equity, he has been involved in TMT (technology, media, telecoms), realty, hospitality, clean tech, energy and social impact investments for more than 20 years.

“I am delighted to join Play2Live as a strategic advisor. The eSports market is valued at $700M for 2017 and is growing rapidly. The use of blockchain technologies in a streaming platform with interactive features and multiple monetizing tools makes it one of the innovative and promising projects in the space right now. Play2live has the leadership and innovation I seek in investments and I look forward helping to shape the milestones to come,” says David Drake, Partner at LDJ Capital.

As a veteran of the eSports industry, Victor Martyn is a pioneer of the genre with unique experience in one of the fastest-growing industries on the planet. His professional playing career began in 1999 when he became the star player on the first ever properly sponsored eSports team in the history of the sport. Having reached the pinnacle of eSports, he became the largest single shareholder of Melita Gaming Group. As a result, he boasts 13 years in the iGambling industry, and the experience and knowledge that comes with such prolonged success. Today Victor works with some of the biggest companies in the industry as owner and CEO at GosuGamers, the largest eSports media outlet in the world, which reaches a global audience of around 25M eSports enthusiasts a year.

“I am pleased to join the Play2Live advisory board and take part in the company’s development,” said Victor.” A proper use of blockchain technology opens up some interesting possibilities”.

Alexey Burdyko, the founder and CEO at Play2Live, said “The company is extremely pleased to bring the industry’s most trusted and respected experts on board as Advisor. I truly believe in success of this project and with our advisor’s experience we have more resources and feasibility to transform the industry and deliver an ultimate end-to-end solution for streamers, gamers and eSports fans covering all their needs, and providing the key advantages of blockchain technology such as speed, transparency, security, and availability.”

Founded in 2017, Play2Live is a trailblazer in merging revolutionary blockchain technology and streaming services. The full-blown ecosystem for eSports and gaming industries is focused on content generation and practical needs of streamers to provide a completely new level of virtual interaction. Play2Live comprehensive solution hosts over 25 functional modules, 15 of which allow generating revenue for all users and at the same time provide an opportunity to spend earned tokens within the platform.

More about Play2Live:

https://twitter.com/play_2_live
https://www.linkedin.com/company/18255836/
https://www.facebook.com/Play2Live-504880049864038/

The post David Drake Joins Play2Live Advisory Board with Founder & CEO of the World’s Largest eSports Portal GosuGamers Victor Martyn appeared first on NEWSBTC.

A high-profile ICO project is re-evaluating whether it will stick with the ethereum network or shift to a more scalable and lower-cost solution.