Day: February 3, 2018

There has never been a lack of people who would like to create their own cryptocurrency. Even though thousands of such projects exist already, people always find a new reason to start over. For most aspiring cryptocurrency developers, there is a big problem, though. Few people actually know how to create their own version of Bitcoin. It seems some people are willing to pay up to US$5,000 on Upwork to get their own version of Bitcoin or Ethereum. It’s a worrisome trend, but one that is entirely to be expected at this stage.

Expect a Wave of new Cryptocurrencies

Considering that powerful cryptocurrencies such as Bitcoin and Ethereum are completely open source, it’s difficult to grasp why people would hire someone else to create a new version of this code. After all, the template needed to create a new cryptocurrency is already there, but it does require a bit of work to change its name and such. One of the bigger problems is that people would love to change the number of coins or some of the template’s technical features without knowing the first thing about writing code. A problematic scenario ensues.

Thankfully, there are convenient solutions to solve problems like these. All one needs is a small amount of money to pay someone else to do all the work for them. That is exactly what we are witnessing on platforms such as Upwork right now. Several ads can be found for people willing to pay US$5,000 or even more to anyone who will create a new version of Bitcoin or Ethereum for them. For aspiring developers with the most basic of coding knowledge, this is a massive market waiting to be tapped.

One particular Upwork ad shared on Reddit details what some people expect in return for their US$5,000 payment. This person wants a new cryptocurrency and a website to go along with it. The currency must be developed on a specific operating system and needs to have built-in mining support. Moreover, its mining difficulty will need to adjust accordingly, and there has to be a premine as well. This premine will not be brought into circulation until the owner decides to dump it on the open market.

Moreover, there doesn’t have to be a supply cap, yet the user wants “blockchains for every coin”. That makes literally no sense, but it gets even better. Their goal is to get on an exchange such as Bittrex, even though the latter would never list this currency. There’s also mention of how this currency should be visible in different “mines” which also hold this currency. Without a clear grasp of cryptocurrency “lingo”, getting involved in this industry is not necessarily the best of ideas.

The “developer” also wants his premine to be hidden from the public and not made visible on the blockchain. Everything about this project sounds like a major exit scam waiting to happen, but that sort of thing is not entirely new in the world of cryptocurrency. This is how most alternative cryptocurrencies operate these days, as premines and pump-and-dump schemes have become the new normal in the past few years. It is very worrisome that people have outsourced such jobs on Upwork for US$5,000.

All of this goes to show people mainly see cryptocurrency as a way to scam other people. The nefarious intent associated with this particular Upwork project is visible for everyone to see. Dishonest project managers are not hard to come by in the altcoin world, as only a handful of these currencies have any real-world value. Everything else is either a copy-and-paste job or a currency created by a developer waiting to dump a massive premine on new investors.

The Blending of FinTech and AdTech

Estonian-based startup, AdHive, is trying to prove that advertising technology (adtech) and financial technology (fintech) can meet in a mutually beneficial way. The belief is made real by implementing an advertising platform propped up by the Ethereum blockchain that allows payments to be made via smart contracts.

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Specifically, AdHive is looking to create an advertising tool for influencer marketing and advertising, a form of marketing that depends on big names or people with influence to get people interested in some product.

The big thing that they want to emphasize in terms of blockchain tech as it relates to adtech is the ICO and how its profit potential seems to be higher than it is with projects in other fields or industries.

The ICO and AdTech

The evidence is mounting, with more and more data showing that AdTech ICOs are more profitable than their counterparts based on blockchain projects in other industries. Combine this with the fact that a large percentage of AdTech ventures and ICOs around the world are based in the US, then you start getting the idea that being an AdTech blockchain project is an advantageous quality to have.

According to ICOWatchList, the US stands for about 20% of all ICOs, the UK is at 11%, and Russia trails at 10%. The AdTech market has also been largely segmented with the US leading with 39% of ICOs

“Many in the ICO industry are fighting an ongoing battle with the competitive profitability factor of Bitcoin and other cryptocurrencies. The average income of AdTech versus the yield of Bitcoin is considerably higher. Such growth was achieved thanks to projects like Snovio, AdEx and Viuly. As is evident, AdTech projects on average grow far faster than Bitcoin, thus producing greater profitability yields,” explained Dmitry Malyanov, Co-Founder of AdHive.

Surprisingly, most growth in the AdTech sector came in the last financial quarter of 2017, with October seeing as many ICO launches as the previous 9 months combined. Before Q4 of 2017 there had been relatively modest success regarding ICOs in the AdTech industry.

Thus far, AdTech ICOs have been very successful when compared with those of other industries.

How AdHive Works

The AdHive platform exists on top of the highly vetted and tested Ethereum blockchain, where it takes advantage of its smart contracts to automate and simplify the advertising process,

The startup bills its project as the “first AI-controlled influencer marketing platform.” What this means is the project both leverages artificial intelligence to improve marketing outcomes and primarily aids people trying to market their brand with the help of influential people.

Influential people can be social media personalities, and considering their relevance to our digital world, would likely be an optimal example to showcase the platform’s usefulness.

In essence, it works when the AI of AdHive recognizes when the the influencer (social media personality) has performed the advertiser’s task, then commands the smart contract to execute the payment automatically.

Visit the AdHive Website: https://adhive.tv/

The Byteball project has garnered a lot of positive attention over the past year or so. Most people know it as a currency which is distributed to Bitcoin holders on a regular basis. Even so, there is a lot more to this project than meets the eye. The project is all about making smart payments more simple, which is a very noble cause, all things considered. Moreover, it is about “enabling trust where trust couldn’t exist before”. Now is a good time to look at what this project has to offer other than the free airdrops.

Why is ByteBall a Thing?

The main reason to use Byteball over other currencies is its risk-free conditional smart payments. No other traditional currency in the world can perform such actions as of right now. Being able to place a specific condition on a payment and ensure it is automatically executed when that condition has been met is certainly interesting. If said condition is not met, the money will simply be returned to the sender. It is a completely trustless setup which seems to work quite well.

What’s the tech behind Byteball?

The concept of conditional payments is not difficult to explain. Simply send money to a recipient on the Byteball network, add the condition, and let things unfold on their own. There is also a strong focus on peer-to-peer insurance as a way to hedge against negative events. More specifically, it is possible to buy insurance from peers and get paid if a negative event occurs. All of this is based on smart contract technology, which is one of the driving factors behind ByteBall as a project.

This latter option can easily be applied to many real-life events. Airplane flights and package deliveries, for instance, can both benefit from peer-to-peer insurance. All of the data related to the insurance parameters will be added to the database by a decentralized oracle, which will allow users to unlock the associated contracts and claim their rewards accordingly. It is always better to insure against unfortunate events and never need it rather than to have no insurance in place.

Byteball can also be used for other purposes. Prediction markets using smart contracts are another interesting option worth exploring. There’s also a way to bet against other Byteball users in a peer-to-peer fashion. With the Winter Olympics coming up soon, there will be plenty of options waiting to be explored. Last but not least, Byteball users can send cryptocurrency via email or chat. Perhaps the most interesting non-payment feature is the option to store one’s digital identity inside a Byteball wallet with the help of Jumio.  

What Comes Next for Byteball?

There is a lot more to Byteball than the things outlined above. The project has its own untraceable currency, known as Blackbytes. The project also supports atomic exchanges, regulated assets, on-chain oracles, and settlement finality. All of this shows there is still a lot of work to be done in the future, but once all of these features come to market, people will start taking this project more seriously. With some marketing efforts taking place already, things are looking pretty interesting for Byteball.

Unconfirmed: money-sending app Circle is working to acquire major crypto exchange Poloniex, according to former NY Observer editor-in-chief. #NEWS

For a novice investor, socially responsible investment (SRI) may not be an immediate factor to consider, but the more seasoned investors will be quick to recognize the value in such a proposition. However, the definition and more importantly the perception of what should be viewed as socially responsible investment has changed somewhat. In the early 1960s, investors increasingly sought to address equality for women, civil rights, and labor issues. While since late 1990s, SRI was seen as something that is related to promotion of environmentally sustainable development. More recently, this has morphed into investors addressing the rights of indigenous peoples around the world who are affected by the business practices of various companies.

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Despite last year being the breakthrough period for ICOs, investing in crypto projects is still very much in its infancy. The mainstream media might be covering the big headlines but the majority of what is going on is still limited to a select number of publications. The companies that have either raised the funds via ICO style campaigns or are due to do so in the coming year have shown very little appetite to follow the trend of SRI. Given the risky nature of the business, together with a very technologically driven product, as opposed to tangible assets such as factories, it is not surprising that this particular aspect of investment principle has been somewhat neglected. That has changed now and CinemaWell.com is about to change that and lead the way by encouraging other Blockchain based projects to adopt SRI policy. For CinemaWell.com, part of the prospect will be targeted to help IT Academy for Orphans, Hebron. “CinemaWell.com” chose to be technically developed and supported by HebronSoft, a social enterprise.

Apart from being socially responsible, CinemaWell.com is a great cinema platform that rewards both budding filmmakers and viewers alike. By implementing Blockchain technology, the company was able to create a reward system that benefits viewers by not only providing them with the latest films, but also with an opportunity to get paid for screening and reviewing a film with ApplauseCash (APLC) tokens. At the same time, filmmakers will be able to sell tickets to their premiers, set prices and schedules, as well as have access to analytics to get an insight and feedback from the viewing audience.

While the majority of companies exploring the possibility of funding using ICO style campaigns do not even have a minimum viable product (MVP) to show to potential token holders, the team behind CinemaWell.com has a working product already available and the new platform is expected to be ready for launch in late April.

The company was initially launched in 2014 as an Internet Video Co-Viewing (IVCV) platform, with a view of attracting up and coming filmmakers and producers to break the ranks and gain credibility. Now, CinemaWell.com’s ICO is very much in 5th gear and the company was able to meet its soft cap target in the first hour of pre-sale! The company has released 300,000,000 (300 million, 100%) ApplauseCash (APLC) tokens and no additional tokens will be release in the future.

Harvest Portfolios has received approval to issue Canada’s first ever Blockchain-based Exchange Traded Fund (ETF). #NEWS

Quite a few cryptocurrency-oriented projects focus on digital assets rather than just cryptocurrencies. That is only normal, as we have seen dozens of new assets issued on top of existing blockchains over the years. Bytom is one of those projects which wants to focus on transferring assets from the atomic world to the byteworld. It may not make much sense at first, but it seems there is plenty of merit to this project.

An Overview of Bytom

Building an interactive protocol of multiple byte assets is not something most people will worry about all that much. Looking a bit more into this project, it becomes evident Bytom focuses on creating heterogeneous byte-assets which operate in different forms on the Bytom blockchain. Additionally, there’s a focus on atomic assets – dividends, bonds, etc. – which can be registered, exchanged, and engaged with in the form of contract-based operations using Bytom. Bridging the gap between digital information and real-world information is a noble venture, assuming there is a market for it.

So how does Bytom Work?

It is evident that Bytom is one of the more technical projects in existence right now. There are three different layers: a data transaction and transmission layer, the contract layer, and the asset interaction layer. Moreover, the Bytom blockchain uses a general address format which supports multiple currencies. Similar to most other cryptocurrencies in existence, a combination of public and private keys allows users to store their assets in a safe and secure manner. Assets issued and digitized on the Bytom blockchain are named using the Open Data Index name system, which should help make their names unique enough.

Bytom’s blockchain also separates transaction signatures from the rest of the data in a given transaction. This sounds similar to how Segregated Witness works for Bitcoin, although it is unclear if the team developed their own code from scratch in this regard. Moreover, the Byton UTXO model can verify transactions in parallel to ensure unspent outputs can only be quoted by one transaction at any given time. It’s an interesting way to protect against potential double-spends, which are always a worrisome part of any cryptocurrency project.

Last but not least, there is the concept of cross-chain asset distribution. In the case of Bytom, developers can create a smaller side chain which remains linked to the main chain. This allows them to benefit from the main chain’s security while still retain full control over how they issue coins and dividends to users. It will be interesting to see if businesses take a liking to this option. Blockchain will make a big impact on every industry, but it remains to be seen how this will affect Bytom’s chances of success.

What’s Next on Bytom’s Agenda?

There are still many aspects of Bytom which have yet to come to fruition. Firstly, the team will focus on improving the governance model of the Bytom ecosystem before the end of Q1. Later this year, we will see the official Bytom blockchain released to the public, although there is no official release date as of right now.

TokenStars, a blockchain-based platform with 15 celebrities onboard, aims to become a space which unifies stars, fans and advertisers. By introducing millions of users to the blockchain they are ready to disrupt a $100 billion celebrity management industry.

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Blockchain projects endorsements and investments in ICOs already grabbed attention of many celebrities, like Paris Hilton, Jamie Foxx and Floyd Mayweather. So far stars still do not take all the advantages from the $500+ billion crypto market because most of the endorsements are ad contracts. TokenStars, a decentralized platform powered by the blockchain, will help to drive the adoption of technology further and build celebrities interaction with fan communities and therefore, introduce millions of new users to the crypto world.

Celebrities Pioneers

15 stars already saw the benefits and supported the platform. World football champions Lothar Matthäus and Gianluca Zambrotta, Hollywood photographer Rico Torres and Tampa Bay Lightning right winger Nikita Kucherov have already joined TokenStars advisory board. While a famous DJ Redfoo (LMFAO), KHL star Pavel Datsyuk and Bitcoin evangelist Roger Ver are raising money via TokenStars Crypto Xmas Charity Auction. The startup targets a global celebrity management market topping $100+ billion and to disrupt the monopoly of the top 10 talent management agencies controlling over $25B in contracts.

Intersection of stars, companies and fans

An alternative to celebrity agents – is a blockchain-based talent management platform which directly connects stars with fans and advertisers, whether it is a partnership, fan contest or a merchandise shopping. Built on Ethereum, TEAM by TokenStars aims to change how all the sides collaborate with each other.

It is a win-win strategy for every group in the community. A rising star gathers funds for a career development from its supporters or gets a new advertising proposal from a brand. While a well-known celebrity can always find an extra way to communicate with fans or sponsors.

Instead of high talent agents’ fees, a celebrity will have to pay a commission from the sponsorship deals and prize money to TokenStars, which is paid platform’s tokens. So the growth of their price is a strong incentive for token holders. Also token holders receive benefits for exploring and supporting aspiring stars.

A decentralized TokenStars ecosystem

The TEAM platform has 12 modules divided into 4 layers by function and the first one is already live. It is dedicated to crowdfunding and, on the one side, is targeted at stars raising funds from their fans, getting contracts, or participating in charity activities, on the other, at fans who want to become part of the TEAM community.

TokenStars has already two brand contracts in portfolio. The Contests & Charity module,  launched in December 2017, is currently powering the Charity Crypto Auction, in which donated by celebrities personal items are being sold. Among them are memorabilia set signed by Redfoo (ex-LMFAO), T-shirt from crypto-star Roger Ver, and biathlon Olympic champion Tarjei Boe’s skiis.

“One of my favorite things about cryptocurrencies is that they can really make a change in the world. Whether it’s business, arts, sports or now non-profits, they attract the attention of people all over the world to the things that matter. That’s the reason I’m happy to support Crypto Charity Auction by TokenStars,” says Roger Ver, a Bitcoin evangelist and early investor.

Bidding on Ver’s signed T-shirt helps raising money for Mises Institute which promotes teaching and research in the Austrian School of Economics, and individual freedom, honest history, and international peace. Another lot, a T-shirt from Wimbledon champion Martina Hingis, is already gone for a whopping $987 – a 20x from the actual price. Two more modules of TokenStars platform will be out in Q1 2018.

Internal token that fuels a platform

TEAM by TokenStars is the utility token used in activities on the TokenStars platform for advertisers and celebrities commission repayments, fans benefits and rewardings.

To ensure all activities performed on the platform are verifiable, TokenStars leverages the perks of blockchain technology. The decentralized model ensures low money transfer costs and fast transactions, empowering the global community to participate without involving third parties.

TokenStars TEAM Celebrity Advisory Board

TokenStars have successfully raised $4.9+ mln in the ACE token sale for tennis, and now make a step forward with TEAM; a decentralized blockchain-based platform that combines sports and show business into an ecosystem that connects celebrities, fans and brands.

The list of over 15 international celebrities supporting the project includes FIFA World Cup champions and NHL stars. Only in TokenStars TEAM advisory board are such well-known names in several industries, as football (Lothar Matthäus, Gianluca Zambrotta), tennis (Tommy Haas, Cedric Pioline, Robin Soderling), hockey (Nikita Kucherov), Hollywood (Rico Torres), poker (Alexander Anter), and more.

The TokenStars TEAM pre-sale started on Jan. 27 and it will last until Feb. 5. For a minimum contribution of 1,000 TEAM tokens estimated at 0.1 BTC, those who participate in the sale get a 15 percent early bird bonus until Feb. 5. The token sale will run from Jan, 27 to Feb.28.

The potential of cryptocurrencies is often forgotten about in this day and age of mainstream adoption and the amount of greed that has flooded the burgeoning cryptocurrency market. #OPINION

Space is the next frontier our species will explore in one way or another. Doing so is much easier said than done, though, as getting into outer space is not something most consumers currently expect to do. Russian space company Energie plans to change all that by offering “comfortable” flights to the International Space Station. These flights will accommodate up to six people, which may open up a rather interesting market moving forward.

Another Company Aims to Commercialize Spaceflight

Although the venture by Energia isn’t on the same level as what Elon Musk or Richard Branson have planned, it does portend an interesting future. Having up to six “tourists” fly up to the ISS and perform an outside spacewalk is certainly something a lot of wealthier individuals will gladly pay good money for. Whether or not the rest of the world feels the same is a different matter altogether.

This would be the first time that paying tourists could travel to the International Space Station. Going out on a spacewalk is something most astronauts don’t take lightly, even with their special training. It is likely any tourists looking to explore this opportunity will need some training as well, although that has not been officially confirmed by Energia. This bold new venture will certainly get a lot of attention, even though it may not necessarily result in any actual interest in the project.

Considering that a ticket would cost around US$100 million, there won’t be many people who have the money to pay for such a venture right now. Going into space is not cheap, as the costs of launching a rocket and preparing accommodations for up to six additional people simply costs a lot of money. Market analysts have concluded that wealthy people are ready to pay for such a once-in-a-lifetime experience, but only time will tell whether their assessment is correct.

Energia has built up a solid reputation in the space industry. The company was a part of launching the first man into space, as Yuri Gagarin could not have succeeded without this company’s help. As of right now, the firm is building a new module known as NEM-2. It seems this new project will solely focus on transporting tourists to the ISS. Assuming there is sufficient demand for this service, Energia may be on to something which no other companies have previously explored.

With the NEM-2, four to six people will be able to travel to the ISS. No one should expect anything overly luxurious, even though tourists will have their own comfortable cabins. There will be more than one toilet, and even internet access for tourists to livestream the whole thing on social media. If everything goes according to plan, the NEM-2 module will be ready for commercial use by 2019. No further timeline has been announced at this time.

It is also worth noting that Energia is not going alone. It has the support of Boeing, a company which made its space-related intentions clear some time ago. How all of this will play out in the long run has yet to be determined at this point. There is plenty of reason to assume this trial will be somewhat successful. The bigger question is whether or not modules like the NEM-2 can be built in such a manner that they pose no risk to the people riding the vehicle on their way to and from the ISS.

This article originally appeared on Bitcoin Magazine.

Online beauty and hair bookings company JOLYY is building a blockchain platform intended to lower commissions for bookings to 1%, compared to rates of over 20% currently in the industry.

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The company plans to introduce smart contracts and instant payments in an industry where salon managers are still largely reliant on pen and paper to manage appointments.

“While many other businesses are totally digitalized, this sector is still in the 20th century […]”, the company COO Ognian Genev says. “The inefficiencies this brings are already generating losses”.

Alongside the inconveniences however, such inefficiencies have the potential for huge opportunities.

The beauty industry is growing at a rate of over 7% per year, according to a report by Inkwood Research. The report also states that the global market size of the beauty industry is projected to increase from $432.7 billion in 2016 to $750 billion by 2024. Online channels, social media and e-commerce are playing an increasingly important role for the market’s growth.

One-stop shop

JOLYY’s mission is to invigorate the existing market by building a secure and efficient platform, which will act as a one-stop shop for clients, salons and cosmetics manufacturers.

The platform will be based on the Origin Protocol. It is a large-scale, distributed network on the Ethereum blockchain, which helps buyers and sellers transact in an open, decentralized environment bypassing traditional intermediaries.

At its launch, the new platform will offer free bookings, with commissions going up to 1% once the network reaches a certain level of capacity.

Beauty salon clients will be able to book their preferred providers 24/7. They will have the option to pay either using the network’s native tokens, or fiat currencies. They will receive tokens as rewards for writing reviews and comments, adding salons or referring new customers. A dedicated social network module, called JOLYY Live, will enable them to interact and engage with their favorite experts. They can follow and ask questions, read relevant content, etc. The company hopes to turn the social network into the go-to place for the beauty industry with users uploading and sharing content, following experts, find deals, etc. Salons and vendors will be able to advertise their products.

Salon managers will be able to manage their bookings effectively and efficiently, receiving instant payments. They can list their store in the network and get insights about their rating and related searches on the platform. Detailed analytics will help them improve their listing and move up the search results.

The company plans to launch a native token, called JOY, based on the Ethereum blockchain. This token will act as the main payment method across the network. Ad space will also be available for sale in exchange for tokens. By attributing an advertising value to tokens, the company hopes to increase the intrinsic value of the currency, long term. Tokens used for buying ad space will get burned, reducing the total supply.

JOLYY store

The network will serve also cosmetic products manufacturers, giving them access to a direct marketing channel called the “JOLYY Store”. It will allow them to reach thousands of salons, filtering their search by geography, size and other criteria. Vendors will promote their products to beauty experts through precisely targeted ads. Once a sale is complete, they will arrange cosmetics deliveries through cashless payments and a smart contract, saving time and money, the company says.

JOLYY was founded in 2016 and operates out of Bulgaria.

The JOY token is scheduled for release in the second quarter of 2018.

Tokenized neobank aims to develop a community-driven, cryptocurrency-enabled banking ecosystem in a regulated environment that could simplify crypto-money usage. #SPONSORED

Large-cap cryptocurrencies may have had a stellar 2017, but 2018 hasn’t been so kind – with several being worst hit.