Day: February 9, 2018

France and Germany have called for the G-20 to discuss cooperative action on cryptocurrencies ahead of a summit next month.

Statistical studies have shown that more than 200 million gamers purchase US$50 billion worth of virtual assets on an annual basis. However, the majority of those people are faced with high platform transaction fees, and are also vulnerable to having their items stolen by hackers. Additionally, the online gaming marketplace is currently fragmented and makes use of a host of business models that are tailored to suit the demands of gamers from different parts of the globe.

WAX is an all–new virtual marketplace that allows the exchange of digital assets to occur in a completely decentralized manner. It makes use of a global token that empowers customers to buy and sell virtual goods effortlessly.

Additionally, the WAX platform has been designed to support a variety of selling structures so as to maximize liquidity, as well as to enable alternative selling mechanisms such as bidding and reserve bidding.

Not only that, WAX also leverages some of the core aspects of the OPSkins asset exchange, thereby enabling a new generation of crypto traders to participate in the online exchange of virtual assets.

Overview of WAX

• Easy-to-use interface
• Total number of tokens available: 1,850,000,000
• Eliminates fake reviews via a new review system
• Prevents transaction fraud via advanced safety mechanisms
• Makes use of standardized catalogs to provide accurate and concise product information

Key Features

Simply put, WAX is a global P2P marketplace that has been designed exclusively for the exchange or trading of video game-related virtual goods. All of the transactions are executed through the use of smart contracts, and financial risks that are commonly incurred by consignment-based marketplaces are eliminated totally.

This platform allows market participants to serve as:

• Listing and selling agents
• Item settlement agents
• Appraisers
• Affiliates
• Buyers and sellers

The WAX Protocol serves as a decentralized blockchain solution that focuses on the seamless transfer of virtual goods.

This protocol is primarily focused on serving the rapidly growing gaming industry, but it has been configured in such a way that it is able to conform to the needs of various other retail market segments. Also, to meet the high throughput demand of the global market, WAX makes use of a Delegated Proof of Stake consensus algorithm that has been chosen primarily for its use of “guilds” and other smart technological solutions.

How WAX works

The WAX Platform uses a DPOS consensus algorithm that was initially conceived and formulated by BitShares. Through the use of this mechanism, the WAX system is able to allow for a large volume of daily transactions. It should also be noted that, unlike conventional Proof of Work (PoW) based systems, the confirming nodes used by DPOS are selected by users who pledge votes to proposed delegates.

(Flowchart courtesy of the WAX whitepaper)

Transfer Agents are used to help in the seamless exchange of virtual assets between two consenting parties, and their authority is restricted to only one game or server. They are responsible for settlement of all contracts within the network.

Other core responsibilities of Transfer Agents include:

• Communicating with sellers and buyers so as to come to an agreement regarding the pickup and delivery of a particular virtual item
• Taking possession of the virtual asset from the seller once he or she has confirmed a transaction
• Authenticating the asset and checking whether all of the specified sale criteria have been met
• Signing the Settlement Execution Contract associated with the asset in question
• Delivering the goods to the buyer and subsequently making sure that the contract has been settled

Lastly, it is important to understand that all transactions on the WAX Platform make use of signed data packages. Each individual transaction incurs a small fee which is taken in the form of WAX tokens and is then used for the further development of the platform.

History of WAX

The WAX platform was developed by the same people who created OPSkins. OPSkins is the world’s biggest marketplace that allows for a streamlined exchange of video game-related goods and assets.  

Image courtesy of Wax.io

William Quigley is currently in charge of all company operations. He has been in the gaming industry for over 20 years, and is also Managing Director at Cashel Enterprises. John Brechisci is the co-founder and CTO of OPSkins. He is responsible for the design and handling of the WAX (Worldwide Asset eXchange) platform.

Token Market Performance

The market performance of WAX is quite interesting, as we can see that the value of a single token increased quite steeply with the dawn of the new year. However, since then, its value has stabilized and currently stands at around US$0.35 USD.

WAX token one-year performance from Dec. 2017 to Feb. 2018 (courtesy of CoinMarketCap)

At its peak, the value of a single token was an impressive US$2.67. With the way the crypto market seems to garner more and more interest by the day, WAX seems to be a good investment option for investors looking to source new alt-currencies.

Final Thoughts

With the rise of various blockchain technologies, it is slowly becoming apparent that the crypto domain has much to offer in terms of streamlining asset exchange within the online gaming sector. While in the past, companies like Steam have monopolized the gaming market and charged users high transaction fees, services like WAX have the potential to completely alter the balance of power, and to change the way virtual game trading is done today.

Since WAX is backed by the OPSkins platform, it comes as a fully developed network that is ready for instant utilization. Also, with the gaming industry pulling in more revenue than ever before, it would not be surprising to see WAX on the list of the top cryptos to look out for in 2018.

Even though the positive cryptocurrency momentum is still in place as of right now, we’re seeing some worrying signs on the horizon as well. While the Bitcoin price has declined again slightly, the NEM price has fallen by over 5.3% out of the blue. It is evident the year 2018 will not be easy for some altcoins. The NEM price not only fell against the dollar, but it also dropped by 2.7% against Bitcoin, which is also slightly down in value. It’s not a positive sign, but there’s no reason for despair just yet.

NEM has an off day

The past two to three days have been somewhat positive for most cryptocurrencies in existence. After a terrible weekend and start to the week, most markets have reclaimed a lot of lost value. We are still months, if not years, away from seeing new all-time highs across the board. The NEM price is a good indicator of how the markets are evolving right now and why the going will remain tough for some time to come. More specifically, NEM is one of the few altcoins to have lost value relative to both USD and BTC in the past 24 hours.

With the current NEM price dropping below US$0.55 again, things are not looking all that impressive. Even though the NEM price reached US$0.60 following the massive dip to US$0.40 a few days ago, things are now starting to head in the right direction. It is only normal that people start to take profits after a while, as we saw a 50% increase in most markets during the first three days of this week. With such a small retracement, the order books will see some interesting momentum in the hours and days to come.  

Now that we are seeing a minor NEM price correction, there is a new buy opportunity for cryptocurrency holders looking to diversify. Considering that the NEM price hit an all-time high of US$1.60 not that long ago, there is still a lot of work to be done before such a value can ever be reached again. At the same time, cryptocurrency markets are utterly unpredictable and there is no reason to think things will not turn around in the future. We may see a NEM price of US$1 again before too much time has passed.

With US$41.1 million in 24-hour trading volume, not much has changed for NEM in the past few hours. That doesn’t mean there isn’t any real demand for NEM as of right now, yet this particular market is experiencing a bit of a drought. We’ve seen a similar decline in trading volume for a lot of other altcoins in the top 15, though. This may hint at future market dips for Bitcoin and other cryptocurrencies in the coming days.

Zaif, the Japanese exchange, is the leading trading platform for NEM as of right now. Its 24-hour volume of US$9.9 million is not exactly impressive, but it’s not terrible either. We also see Upbit and Huobi in the top three as of right now, which is pretty interesting. With two fiat currency markets in the top three, some fresh capital is entering the cryptocurrency markets courtesy of NEM. Whether or not this trend will continue is anybody’s guess. 

It is unclear what the weekend will bring for the NEM price, though. With so much volatility looming on the horizon, things can easily swing in either direction for NEM and virtually any other cryptocurrency. The way things look right now, it seems logical to assume the NEM price will continue to decline a bit, but that doesn’t necessarily mean things will stay that way. Rest assured the NEM price will see some intriguing market action over the weekend, as will pretty much all other cryptocurrencies.

The highly successful Fluz Fluz cash back network initial coin offering has recently concluded, allocating 204 million FLUZ tokens and reaching hard cap in less than one week from launching on the 18th of January. Fluz Fluz is now set to expand into the global consumer rewards market, bringing the innovative digital shopping platform to the US and beyond.

Disclosure: This is a Sponsored Article

The investor strong response to the Fluz Fluz ICO was largely due to the high level of potential the platform offers. A clearly-defined roadmap, already-successful working product, and comprehensive white paper also helped the offering cap out in days.

The Fluz Fluz network is already active and performing well in Columbia, and is aiming to release their service in the United States in Summer 2018.

What is Fluz Fluz?

Fluz Fluz is a dynamic consumer rewards system that allows users to earn cash back from purchases by accumulating redeemable points. The unique element of Fluz Fluz’s architecture, however, is the fact that rewards scale relative to the number of users in the network, which allows “Fluzzers” to leverage economy of scale to generate significant cash back bonuses as a collective.

TechCrunch Co-Founder and tech visionary Keith Teare has recently joined the Fluz Fluz advisory board to assist with product strategy with the impending US market launch, bringing more than 20 years of tech-entrepreneurial experience to the Fluz Fluz team.

How Fluz Fluz Works

Fluz Fluz already boasts more than 40,000 Fluzzers active on a fully-functional platform in Columbia, where it was launched by Maurice Harary and Stefan Krautwald in 2017. Fluz Fluz is an app-driven platform and allows users to invite friends to join, thereby growing their own network.

Each individual Fluzzer is able to grow their own network of up to 65,535 other Fluzzers. In addition to earning cash back rewards on their own purchases, Fluzzers also earn rewards when other Fluzzers in their network make purchases— significantly multiplying their overall profit in an exponential manner.

Fluzzers can use points called Fluz generated by their own purchases and those made by members of their network to redeem securely stored gift cards from merchants across a wide range of categories. Alternatively, it’s possible to cash out Fluz for real money, or transfer it to other Fluzzers.

The Fluz Fluz app is available for both Android and iOS, and provides users with a simple, intuitive mobile wallet for balance tracking and in-store gift card redemption. Interestingly, the Fluz Fluz app also makes it possible for users to track the activity of members of their network in real time, delivering earning insights and helping them motivate other Fluzzers to earn.

The Future of Fluz Fluz

The Fluz Fluz approach to consumer rewards and purchase incentivization is unique, and with a strong retail advisory team, it’s likely to become a game changing force in the US and international markets.

After a rough week across the markets, CoinDesk looks at the cryptocurrencies in the top 25 that have fared well, and not so well.

The streamlined efficiency of IT landscapes, improved operation time, optimized hardware spending and facilitated troubleshooting are among the valuable advantages that attract many businesses to virtualization. Recently, it has been becoming a framework for cloud and mobile computing, Big Data and social media — technologies that are predicted to account for 98% of IT expenditures by 2020.

The vibrant adoption of cloud computing virtualization has given rise to different types of virtualization,each related to specific IT workloads and assets.

Desktop Virtualization

Basic users that have a question “What is virtualization in cloud computing?” better get started with an insight into this type, as many of them already use it subconsciously. Irrespective of the industry, a growing number of businesses apply virtualization on a daily basis, as this technology enables easy access to user desktops from any appliance and location. Also, this method is a workaround in cases when devices fail or are lost, as user data remains available from another appliance.

Hardware Virtualization

Hardware or server virtualization refers to hard infrastructures that are shifted to virtual landscapes. The reason why many companies abandon their traditional equipment-based facilities in favor of cyber ones is significant cost optimization. Typically, businesses that own servers use 15% of their capacity at best at quite a high cost.

That is why, to allocate corporate funds efficiently, companies opt for server virtualization in cloud computing. They launch a required quantity of virtual machines and provide them with access to in-house resources.

In most of the cases, servers that virtualize hardware belong to third-party suppliers that monitor and maintain their operational state. That is why this technology not only reduces equipment-related expenditures, but also enhances and streamlines the deployment, availability and performance of workloads.

The required extent of facility simulation and functionality modification distinguishes the types of hardware virtualization, such as:

• Full. It necessitates thorough server imitation that does not stipulate any modifications to the software.
• Emulation. Under this type, virtual machines imitate hardware and then become independent. No modification of the operating system is required.
• Paravirtualization. This type does not involve asset simulation and software alteration, but simulates and modifies interface functionality.

Software Virtualization

Performance and compatibility issues are permanent companions of corporate workloads that execute on different operating systems. Software that has been converted into a virtual form helps address this challenge as it enables workload operations on host machines that have their own hard infrastructure. To support customers’ operating systems, host machines create full-fledged platforms that possess all of the required functionality to refine software performance.

This type can be broken down into three subtypes that are determined in accordance with the sorts of  corporate workloads that need to be hosted virtually: applications, operating systems or services.

Network Virtualization

To enable the efficient operation and smooth integration of a company’s networked resources and assets, a growing number of businesses have been disassociating their in-house connections from the underlying hard infrastructure. After all the in-house software, workloads and facilities have been consolidated into an integral system, they perform much more efficiently than a network that consists of silo components.

Guided by how networks incorporate assets and systems, two different types of virtualization exist. Internal nets fuse together the components of one system and external ones aggregate intranets or random components into integral units.

Data Virtualization

Virtual data is an efficacious tool for companies that require facilitated data handling. Virtualized information exists as a database- and structure-independent layer, and to manipulate this information, applications do not require source-related formatting, location and other technical details.

This information is left in place and can be accessed in a real-time manner, which eliminates data extraction, conversion and loading procedure that often causes format failures and data entry errors.

Random Access Memory Virtualization

Businesses visualize their segmental physical memory to aggregate it into one repository. They launch enlarged memory pools that serve as message layers, high-speed caches or shared storage budgets and enable access for operating systems and workloads.

The manner in which workloads can access the memory lay the foundation for two related types of virtualization in cloud computing. An application-level access enables direct access to RAM, while an operating system-level one allows turning to memory pools only via operating systems.

Storage Virtualization

To homogenize repository, enhance uptime, balance the load and improve productivity, companies make their storing appliances operate in a virtual manner as a unit. They can virtualize their in-house disks, tapes and other media in two manners: in relation to blocks and individual files.

Virtualized block storages allow accessing various devices regardless of their location and structure, based on the separation of a logical repository from a physical one. In cases of a file-based process, storage provides access to files that are kept on numerous hosts, which removes dependencies between data and their physical location. As a result, companies manage their storage in an efficient manner and are able to migrate files seamlessly.

Make the Most of the Virtualization of Cloud Computing

Regardless of how many types of virtualization companies can apply in their specific IT environments, they should perform this process correctly to take full advantage of the possibilities this technology offers. Security is another important concern, as the process manipulates vulnerable corporate data and workloads.

To enhance the operation of an in-house IT landscape, as well as to reduce related risks and threats, we highly recommend relying only on established software service providers. Only reliable experts with the wealth of domain experience will skillfully guide you through the ins and outs of this process to help you gain the maximum benefits.

IAC is an automated platform that combines the best features of payment systems, cashback services, and affiliate programs. In other words, this is a system of marketplace with a multilevel recommendation system that allows you not only to make purchases at favorable prices but also to earn money on the referrals’ cashbacks.

For the first 4 years, the platform has increased the number from several hundreds of users to 650.000, reached a turnover of $10 million dollars and laid the groundwork for its development in Russia and CIS countries. The next step is the technological transformation of the platform to achieve new, transparent and financial security for both customers and suppliers. This is why IAC is running an ICO.

With the transition to blockchain and internal payments in the cryptocurrency AutoUnit, IAC will be able to provide additional opportunities as for the customers as for the suppliers. On the one hand, the business needs to increase profit through the inflow of new consumers are satisfied and on the other hand, the consumers cut down their expenses thanks to cashback and discounts.

IAC offers customers:

• goods and services at favorable prices from more than 12,000 suppliers;
• ability to upgrade the status within the system to Partner or VIP partner levels, thereby increasing the cashback amount;
• depending on the status, you can have access to different partners’ programmes;
• earnings through the referral system.

IAC offers business:

• opportunity to post their discount offers in a mobile application for customers;
• advertising discounts;
• management and employees motivation systems;
• possibility to sell large wholesale lots;
• free goods’ arrangement on the website (more than 45,000 users per month);
• constant customers’ flow from all over the world;
• large customer base;
• mobile loyalty program and monetization of AutoBonus consumers;
• a system of referral links for users’ registrations; In case if a user makes a purchase from a competitor the business receives a part of their cashback.

Thus, IAC solves the problems of both parties as the consumers as the business. The consumer saves the money and business attract more customers. Blockchain will help the project to become even safer and more transparent due to the fact that after the transition to the use of decentralized financial mechanisms, it will allow to make all calculations, introduce and withdraw funds even if the company itself is no longer in force. Over time blockchain will also make possible transferring payments in cryptocurrency. You can support this project by participating in its tokensale.

Website ICO: http://bit.ly/2nU52jK
Website IAC: https://www.inautoclub.com/en/
FACEBOOK: https://www.facebook.com/AutoUnit-1763572617271555/
TWITTER: https://twitter.com/AutoUnit2018
INSTAGRAM: https://www.instagram.com/autounit_2018/
VKONTAKTE: https://vk.com/club159877633
MEDIUM: https://medium.com/@autounit2018
GOLOS: https://golos.io/@autounit-2018/
REDDIT: https://www.reddit.com/user/AutoUnit_2018/
TELEGRAM CHANNEL: https://t.me/autounit2018
TELEGRAM GROUP: https://t.me/joinchat/HIhx0xJ9Vj0GLBwNiCsREA

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SpankChain is gaining a reputation in the developer community for moving fast to make payment channels work with a thoughtful user experience.

The chairman of India’s Central Board of Direct Tax says the agency is sending notices to crypto investors that haven’t declared their gains.