Day: March 11, 2018

March 10, 2018 Singapore – Tech startup ETHMS has announced its intention to implement blockchain technology through its ERC-20-based token to revolutionize the cross-border services market. The company is building an infrastructure based on ethereum technology to bring general services, contractual agreements and specifically cross-border services into the digital realm.

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The cryptocurrency market has had a banner year thanks to the meteoric rise in bitcoin prices and the huge popularity of initial coin offerings as a new way of fundraising. Many people are buying into new digital tokens with the assumption that those virtual currencies will appreciate over time at levels similar to Bitcoin, or its rival Ether. Market watchers have stated they expect more dramatic movements in the cryptocurrency market in 2018.

As cryptocurrencies grow and expand exponentially, they are also beginning to take over the role of paper currencies. From cryptocurrencies being a form of investment for your Average Joe all the way up to your Wall Street superstars such as Thomson Reuters Corp, these people have all invested in cryptocurrencies. However, this year was especially unique with governments competing against one and other in order to become the next Silicon Valley of cryptocurrencies. With much of Asia adopting blockchain technology and other Nations creating the necessary infrastructure to implement such technology.

Despite all these developments, there is one financial sector that cryptocurrency technology is lagging in and that is the use of cryptocurrencies in the services and contractual agreements, especially cross border services.

The Solution

However a solution lies in ETHMS, which uses the Ethereum Shares Token. ETHMS is also like an online marketplace that enables its users to exchange smart contracts. These include legal contracts, rental agreements, labor contracts, sales and so forth. Thus, enabling users from various professions and backgrounds to engage in the sale, purchase or exchange of contracts. For example, if someone has a labor contract that lasted for 12 months but only received 5 months of labor, they could then go onto sell the rest of the 7 months, possibly at a discount.

Moreover, ETHMS aims to grant its users convenience as they offer templates of contracts which users could use and edit, thus giving an instantly legally binding contract for different purposes. Such templates would be created by law firms, lawyers or professionals in relevant sectors and sold on the exchange for a commission or a fee. Contractual templates will be stored in stockpiles and ready to be used at the users’ convenience. The ETHMS reduces the amount of overall hours spent creating contracts and also reducing storage costs.

Despite offering obvious benefits such as anonymity, reduction of transaction costs and most importantly it offers security. ETHMS is based on the ERC20 platform, which provides a high level of encryption and security in the system. Through using ETHMS an individual will have improved security and addresses such concerns by enabling users to update, upgrade and authenticate when using their services.

ETHMS is a marketplace for smart contracts. It enables its users to exchange, buy and sell contracts in an extremely convenient way. Allowing users to purchase contractual templates written by professionals within a matter of a few minutes. In addition to this ETHMS enables legal professionals to earn money and commission by selling contractual templates. Best of all, ETHMS uses Ethereum Share Tokens, offering its users anonymity, convenience and reliability. It also enables its users to audit smart contracts thus, most importantly improving security significantly.

Media Contact

Contact Name: Don Lakshman Jayamaha
Email: [email protected]
Location: Singapore

Visit the ETHMS Website here – http://www.ethms.io
Read the latest ETHMS White paper here – https://www.ethms.io/ethms_whitepaper_v3.pdf
Join the ETHMS Presale here – https://www.ethms.io/#contribute
Get the ETHMS Wallet here – https://wallet.ethms.io/
Find ETHMS on Facebook here – https://www.facebook.com/ETHMS-497094863987419/

ETHMS is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest

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Recap: Binance Attack

On March 7th, the second-largest cryptocurrency exchange by market cap, Binance, almost fell victim to large-scale attack. According to the company, the attack — which took place over just a two minute period — was part of a well-organized phishing and stealing attempt. Fortunately,  when all was said and done, users funds were declared safe.

What happened? Hackers used account information obtained through several months of phishing and strategically placed a large number of market buys on the VIA/BTC market, pushing the price high, while 31 pre-deposited accounts were there selling VIA at the top in an attempt to move the Bitcoin from the phished accounts to 31 accounts controlled by the hackers. Withdrawal requests were then attempted from these accounts immediately afterwards.

In a blog post, Binance described how it played-out as follows: “As withdrawals were already automatically disabled by our risk management system, none of the withdrawals successfully went out. Additionally, the VIA coins deposited by the hackers were also frozen. Not only did the hacker not steal any coins out, their own coins have also been withheld.”

“Binance Hacker Bounty”

Today, in response to these attempted thefts, Binance issued a statement entitled “Binance Hacker Bounty.” In it, they explain that this most recent attack highlights the fact that the industry can’t simply play defence. The company explains how the hackers were well organized and patient: waiting for the most opportune moment to act and utilizing VIA, a coin with small liquidity, to maximize their gains.

Because of this, Binance is offering:

 “A $250,000 USD equivalent bounty to anyone who supplies information that leads to the legal arrest of the hackers involved in the attempted hacking incident on Binance on March 7th, 2018.”

The company outlines how the process will work: a person who provides information leading to the arrest will receive their payout in BNB, Binance’s self-issued coin, and if it’s multiple people, the company will split the bounty at its digression amongst those involved.

And there’s more. Binance also states that it has allocated the equivalent of $10,000,000 USD in crypto reserves for future bounty awards against any illegal hacking attempts on the exchange. And even further, the company asks others in the industry to join them in this offensive move against future potential hacks, saying:

“We have also invited other exchanges and crypto businesses to join our initiative. We welcome their participation at any time.”

This call-to-arms come as other crypto companies across the globe are banding together to address the regulatory and safety issues that are impacting the industry. Let’s hope other exchanges will follow Binance’s lead, and take their own proactive steps to protect users from the ever-increasing challenges hackers and cyber-criminals bring to the crypto industry.

The post Binance Hacker Bounty: $250K Offered for Information Leading to the Arrests of Those Responsible for Attempted Hack appeared first on NewsBTC.

With Bitcoin’s decline in price since February, people have stopped Googling “Bitcoin”. #NEWS

Blockchain startup CoinMetro has announced a new team of advisors to spearhead their future progress, alongside a key partnership with Bitcoin PR Buzz. The move was pursued by CoinMetro to continue the company’s industry advancements, with the founders enlisting a solid team of advisors to progress the quality of their services.

Disclosure: This is a Sponsored Article

CoinMetro TGE Event

The CoinMetro TGE (Token Generation Event) was a headline creator, raising 4 Million USD within 12 hours of going live. To date, CoinMetro’s platform has recorded over 6,300 individual contributors. Levels of support to this extent highlight the potential that many have seen in the company. To ensure these high expectations are met, the CoinMetro team have taken on a new roster of advisors, alongside the BPRB partnership.

Enlisted Advisors

Jarno Limnéll, the former Director of Cyber Security at McAfee and StoneSoft has joined CoinMetro in an advisory capacity to assist with the platforms cyber-security. As well as experience leading digital security protocols at the enterprise level, Jarno has a history in academia. Previously he has worked as a Professor of Cyber Security at Aalto University in Finland. Cyber security is an issue all blockchain networks face, in part due to the autonomous nature of crypto trading. With experience such as Jarno has in the mainstream industry, CoinMetro is ensuring security is enlisted as a top priority.

Danny de Geir has also joined CoinMetro in a similar role. Danny is a Financial Crimes/AML/Sanctions expert who holds 10 years of IT industry experience. His previous job roles have entailed over 15 years tackling Money-Laundering, Sanctions and working in the Financial Crime Compliance field, including time spent working for IBM. With an international background, Danny has worked in senior compliance roles at several major global financial institutions including HSBC, Royal Bank of Scotland and ABN Amro.

Arjun Arora’s advisory experience has specialized in digital transformation and marketing strategies. The past four years have seen Arjun working with Google on their London-based business team, as part of Google’s Top Tier programme. His resume lists him as Google UK’s number 1 business development manager for every quarter over the past three years, as he brought in circa $1 Million+ per quarter of net new business revenue. His role with CoinMetro will be focused on applying these business strategies to the crypto platform, developing the user base and increasing revenue.

Bitcoin PR Buzz Partnership

As well as taking on these experienced advisors, CoinMetro has announced an official partnership with the world’s first Blockchain PR company, Bitcoin PR  Buzz. Their past coverage has included some of the biggest names in the blockchain industry, including UTRUST, ARK, LISK, and LUX. Bitcoin PR Buzz currently holds over 500 clients, with the benefit of articles translated internationally across websites in Spain, Brazil, Arabia, Indonesia and Latin America.

About CoinMetro

CoinMetro champion the objective of integrating blockchain technology with the workings of the traditional economy. By pursuing licensing in crypto-friendly regions, the startup aims to provide easy access to fiat deposits and withdrawals in conjunction with the users crypto holdings. The platform developed by CoinMetro is a testament to their commitment to providing a user-friendly interface, while assimilating traditional banking to pursue their goal of a combined economy.

The cycle of ups and downs continues on the crypto market, Bitcoin dips below $9,000 for a second time in a week. #NEWS

ImmVRse recognizes the demand for virtual reality content has increased significantly across a wide array of industries. Although still in the Alpha stages of development as a whole, most sectors have began to recognize VR’s effectiveness and immense potential as an incredibly efficient marketing tool. In turn, this provides companies and brands a novel and exciting way to distinguish themselves from their competitors.

Disclosure: This is a Sponsored Article

Transparency Market Research published a recent article forecasting a huge growth for the global market for VR content in coming years. The report predicts a rapid 278 fold increase in the market value of VR between 2015 and the end of 2024 – set to jump from 147.5 million USD to a gigantic 41 billion.

Supply, Growth and Development

In order to supply the growth and development of high-quality VR content, ImmVRse have decided to take a well rounded approach to drive forward the company, much like YouTube, allowing its users to rate the content, giving is value once published. This system has been designed so that content creators using VR can come together with the community, continuously interacting, solving any problems and hoping to inspire the masses, and inspiring each other to produce some of the most innovative VR content available online.

For the Creators

Classifying the content into tiers, the more attention they will draw from not only being put into the correct archive but they will gain traction and attention from not only the viewers but advertisers and big brands. This could result in an increasingly lucrative deals and opportunities. With each tier consisting of different requirements and the two ways to earn these accolades are through the monthly creators’ awards and endorsement badges.

Utilizing the Blockchain, ImmVRse Smart Contracts will feature a trigger to release a monthly reward system where viewers are able to vote for their favorite videos under multiple categories. Winners of these monthly awards will receive an amount of ImmVRse tokens, and will be able to advance into a higher tier of creator rankings.

ImmVRse will use endorsement badges as an alternative in the creator rankings, these badges allow brands the chance to recognize the creators for the successful completion of a business-related project. Creators automatically receive an endorsement badge from a company upon the approval of the submitted content, receiving a receipt to clear funds, ensuring the objectives, and the level of complexity and difficulty is factored in when rewards are issued.

A Comprehensive Measure

The creator tier system is a comprehensive measure of experience and quality of work. Having this protocol gives the creator who puts significant effort into their work, will find themselves quickly moving up the system, achieving more recognition and the option to increase the minimum costs of the service provided.

Consequently, users will be placed in a much better business position, in addition to receiving a payout for every tier they reach, motivating and incentivizing creators to strive to create the most original, innovative content they possibly can, to achieve top “diamond” tier creator status, whereby they will be recognized as one of the most elite creators on the platform. ImmVRse firmly believes that this system will bring out the best of VR content creation in the nexts few years.

To find out more, Visit the ImmVRse Website: https://immvr.se/

Due to the current monetary setup that is utilized by nations all across the globe, banks and financial institutions are able to control, access and operate large sums of money in a highly opaque manner. As a result, there is a loss of liquidity for virtual goods, as well as a lack of a single interface that can be used to access financial, virtual and crypto markets.

Naga is a fairly new cryptocurrency that has been developed by a German fintech company called the Naga Group. The aim of the company is to establish trading platforms that can facilitate the exchange of stocks and virtual goods in a safe and streamlined manner.

Naga Coin (NGC) is the currency that will drive all internal transactions taking place within the parent ecosystem. The exchange platforms on offer include:

• Naga Trader — a social network for traders
• Switex — a decentralized marketplace for virtual goods

Naga Trader allows users to buy, hold, and invest in a whole host of financial vehicles such as:

• Equities
• CFDs
• ETFs

Switex is an online marketplace where gamers are able to trade items and badges in a transparent and hassle-free manner.

Overview of the Naga Ecosystem

• Its trading platforms provide users with a high level of security and accessibility.
• Naga facilitates the trading and exchange of virtual as well as physical assets.
• It provides gamers with a highly user-friendly platform on which to exchange digital items and goods.
• A total of 220,000,000 NGC tokens have been created.
• The native currency is based on the Ethereum blockchain.

Key Features

Through the creation of a decentralized cryptocurrency, Naga aims to solve issues related to high processing fees and transaction charges that are incurred due to the interference of intermediary service providers such as banks.

Overview of the Naga ecosystem (courtesy of the whitepaper)

It should also be noted that NGC tokens are especially useful for gamers since they possess the ability to drive in-game transactions in real time, thereby eliminating the need for large gaming entities such as Steam and GOG which are known to charge high processing fees.

Naga Coin can be used within other financial domains such as:

• Economic trade markets, via Naga Trader
• Virtual currencies, via the native Naga wallet

Lastly, all of the aforementioned activities can be carried out through a single consolidated system that does not require users to have access to a bank account.

How Naga Works

For starters, Naga Trader can be thought of as a social network for digital asset traders. Since its launch, this platform has processed over 2 million transactions and has seen exponential growth of over 100% within the last year alone.

Core features offered by Naga Trader

From a functional standpoint, Naga Trader makes use of an investor leaderboard which allows users to monitor the activities of established traders over a given period of time. Users can then copy the trades of these investors to maximize their ROI.

Naga Trader also gamifies the entire trading experience to increase user participation and overall usability. The interface is experience-driven and is compatible with mobile phones, thereby allowing for remote trading as well.

Similarly, Switex is a blockchain-based exchange platform which facilitates the trading of in-game items in a completely decentralized manner. If it’s successful in fulfilling its vision, Switex will become the first legal ecosystem to allow for virtual goods trading among video game lovers all across the globe. Not only will it increase customer participation, but it will also allow publishers, gamers, and developers to fairly distribute their earnings so as to increase returns for all of the involved parties.

Revenue model employed by Switex

In terms of its design, Switex is highly user-friendly and can be utilized by novice as well as experienced crypto handlers.

Lastly, Naga also allows for crypto exchange via its native wallet. The wallet is fully compatible with Switex and Naga Trader, and can be used to convert fiat money into cryptocurrencies in a highly efficient and safe manner.

About the company

Naga Group AG is the German fintech company that is behind this entire project. It was founded back in 2015 and currently possesses financial licenses from BaFin and CySEC.

Yasin Sebastian Qureshi is the founder and executive director of this venture. He has been in the digital and financial domain for over a decade and has previously been associated with startup companies like the Global Citizen Foundation.

Benjamin Bilski is also a director at Naga. He describes himself as a serial entrepreneur who, at the age of 21, co-founded Angelplatz.de, one of Europe’s most influential e-commerce websites. Benjamin holds a master’s degree in management from EBS University.

Lastly, Andreas Luecke is the CFO of this project. Andreas is a corporate tax lawyer who has been in the legal sector for over two decades. According to his LinkedIn profile, he specializes in M&A as well as the structuring of investments for private and institutional clients.

Token Performance

Since its launch late last year, Naga Coin has dropped in value by over 9%.

NGC token lifetime performance data (courtesy of Coinmarketcap)

NGC tokens were released to public investors at a base price of US$1. The currency hit its value high on January 12, 2018, when the price of a single token scaled up to an impressive US$3.02. However, as of March 8, the price of NGC stands at US$0.79.

Final Thoughts

The trading and crypto exchange services provided by Naga are quite standard and are being offered by many other companies as well. However, it will be interesting to see how Naga’s Switex platform is received by the gaming community since it provides users with a host of in-game trading possibilities.

Before making any substantial investments, individuals should check out the official company whitepaper and learn about the project.

If you would like to start investing in Naga, NGC trading pairs are currently being offered on HitBTC, OKEx, and CobinHood.

Meet Jacob Salvador– Blockchain Specialist Advisor to ZeroEdge Bet

The heart and soul of the ZeroEdge betting concept lies in the successful integration of today’s leading Blockchain technologies, along with the successful launch of ICOs. This is one of the main reasons why we choose very carefully who we select to be part of the ZeroEdge advisory board. It is also one of the main reasons why we are so excited to introduce one of the most innovative entrepreneurs and Blockchain experts to you, Jacob Salvador. Jacob has years of experience as an investment professional as well as a tremendous amount of experience within the asset management, private equity, and project finance sectors. Blockchain technology is becoming increasingly important, not only in online gambling, and Jacob is one of the leading experts in this field. Along with our other expert Blockchain advisors, we are sure that our Blockchain and ICO will be the strongest within the entire online gambling industry.

Disclosure: This is a Sponsored Article

ZeroEdge.Bet – Revolutionary online gambling platform with 0% house edge games

ZeroEdge is a unique concept set to revolutionize the way you gamble online. Currently, all online casino games come with a house edge, i.e. the advantage that the casino has over you, which varies between 1% to 10% or more, depending on the game. ZeroEdge’s solution – offer games with 0% house edge and give players a completely fair chance of winning. In other words, playing at ZeroEdge.Bet is literally free, you don’t have to pay anything to the casino like it’s with traditional online casino sites.

The most amazing part is that Zerocoin value increases as more people join the world first 0% edge gambling platform. It is all achieved by creating a closed-loop economy in which high demand for 0% games drives Zerocoin’s value up. This model is also known as Metcalfe’s law which was originally invented in 1993 and can be seen in the actual Bitcoin’s price growth. Zero Edge offers a unique gambling model which potentially could revolutionize the $70 Billion gambling industry. Players won’t be losing money, but instead earning from the increasing Zerocoin value.

We have made a survey & asked hundreds of people about their gambling preferences & experiences.  The main finding was that 99 % of them stated that they would choose 0% house edge games to play if such games were available. High demand for the world’s first 0% house edge games will increase the Zerocoin value exponentially. An important task for us will be to educate the players and raise their attention on this beneficial concept.

Zerocoins (ZERO) will be available to investors during an upcoming ICO. Visit https://tokensale.zeroedge.bet to find out more.

As the Lightning Network comes closer and closer to fruition, cryptocurrency enthusiasts are anticipating a network for payments that is far more fast and affordable than what is currently seen. While there is still work to be done before Bitcoin sees such an implementation, it’s important to recognize that other projects are also working on or have already implemented the underlying technology of this network. Here are three examples:

1. Ripple (XRP)

For close to one year, Ripple has been actively using payment channels to process thousands of transactions per second on its network. Payment channels utilize the same off-chain settlement function as the Lightning Network. That is, the transactions are processed adjacent to, rather than through, the global ledger. Only the settlement portion of the transaction takes place on-chain.

With payment channels, Ripple claims to consistently process 1,500 transactions per second, more than any other cryptocurrency. Additionally, a July 2017 stress test suggested that Ripple’s network can handle up to 50,000 tps, which rivals that of VISA. Beyond speed, an implementation like Ripple’s payment channels allows its ledger to scale massively, too.

2. Raiden Network (RNT)

Like XRP, Raiden is also implementing a payment channels protocol into its network. The difference between the two tokens, however, is that RNT seeks to apply its payment channels technology directly on top of the Ethereum blockchain. Unlike Ripple, this project has not fully launched, and it is still in the later stages of testing and development.

Raiden has huge implications. If it is a success, the already widely-used Ethereum blockchain would be upgraded. Ethereum-based games such as CryptoKitties would be massively scalable without presenting a burden to the overall network. This would also allow for exponentially more efficient, and therefore accessible, participation in Ethereum-based gaming and other on-chain ETH protocols. If Raiden launches, these existing ecosystems based on Ethereum would very likely see a massive influx of participants.

3. Chimaera (CHI)

Compared with the first two projects, Chimaera takes a more creative approach to Lightning Network settlement solutions with an implementation called “game channels”. Game channels represent a gamified Lightning Network solution for online gaming directly on the custom Chimaera blockchain. Like XRP and RNT, such a system can create a massively scalable, easily accessible network for all. Unlike these two, however, Chimaera’s implementation will enable users to participate in peer-to-peer, provably fair, automatically-escrowed online gaming directly within the game channel.

Game channels could potentially revolutionize the manner in which gamers connect, as this approach eliminates server upkeep and moderation costs, as well as ensures against cheating. Game channels were first invented by lead developer Dr. Daniel Kraft in a 2016 Power Ledger entry. Chimaera quietly sold out its private presale very recently, and is slated to begin its public sale soon. Soon after the sale completes in Q2, this technology will be published to the public to create and interact with an entirely new type of gaming.

The African fintech market has been booming in recent years and Mauritius, the tropical island off the eastern coast of Africa, is one nation making blockchain headlines. Now, less than a year after being dubbed “Ethereum Island” by Consensys, Mauritius has birthed its first homegrown blockchain startup, IAME.

Disclosure: This is a Sponsored Article

The startup’s core focus is on developing its proprietary data and identity verification system for the cryptocurrency ecosystem through its novel Decentralized Fragmented Identification technology

What is Decentralized Fragmented Identification?

Decentralized Fragmented Identification is the antithesis of conventional identification processes that require the wholesome data to be transferred from one party to another for identification to be conducted.

Long story, short, the system fragments the data being shared within blockchain transactions into unintelligible pieces of data that are verified by a multitude independent third-party validators. The identification process is hashed onto a designated blockchain and made accessible on a public repository where the identification status linked to specific blockchain addresses can be consulted, without compromising the identification data.

Why change the way Identification has been conducted for years?

Organisations usually seem to overlook one key point about data systems – nothing is hack-proof! Hackers will always find a way to gain access to systems, steal information, and do whatever they want with it. It doesn’t matter how much money you spend on preventing data breaches – the only thing you’ll be doing is postponing the inevitable. The only real way to fight hacks is to reduce the impact a breach will have on the victims – ordinary people who get their information stolen – by making data “hack-worthless”.

With more businesses expected to adopt blockchain technology in the near future, the potential for data breaches is expected to increase. The IAME method is the ideal solution to this problem because it comprises an approach that renders all the personal information shared across blockchain transactions worthless. It’s with this idea of “hack-worthless” data in mind that IAME, will be revolutionising the way identity verification on blockchain transactions takes place.

What is Third Party Validation?

IAME’s third-party validation system is built on the idea that the identification process can be fragmented and crowdsourced in a for profit P2P methodology. The rationale being that identity verification conducted by a network of third-party validators is far more dependable and less susceptible to the risk of fraud than an identification validation conducted by a single institution or party.

To prevent validators from the gaming the system, the IAME identification network deploys a symmetric game model that uses a method of “tribunal validation”, where “majority rules” determines validation. If consensus is not reached, an appeal will be conducted via a secondary tribunal. With this process in place, no single individual or party will have control over the validation process. Think of it as an identity validation democracy!

How does IAME stand out?

Other than the obvious fact that the company is using an unconventional approach, the IAME system goes well beyond traditional data security and data breach mechanisms by deploying a technology that focuses on providing a solution in the event that the worst possible scenario does occur. While data breaches are inevitable, the IAME Decentralized Fragmented Identification network would render any breaches on a system that deploys the technology, irrelevant.

If IAME’s technology is adopted by a large portion of companies operating in the blockchain realm, data breaches and hackers may have finally met their match. In short, think of the IAME system like this – a thief might be able to gain access to a bank’s safe, but would it matter if all they could steal was cut up pieces of paper with no practical value?

Details of the ICO

You can join IAME and be a part of its journey towards making vital personal data “hack-worthless”.

Still not convinced?

The IAME team have already launched their Identification Prototype and their Validation Prototype with the alpha on its way – it will be released prior to the launch of the ICO.

For more information on IAME, please have a look at their website and their white paper. Any feedback, comments, or questions can be asked directly to  the IAME team by visiting their Telegram Channel. For updates on IAME, you can follow them on Linkedin, Facebook or Twitter.