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Day: March 23, 2018

A Public Blockchain Aims to Secure Big Data Sharing

TheMerkle Taringa Data BreachThe rise of the Ethereum blockchain has resulted in the creation of thousands of DApps – decentralized applications – that connect users and developers directly, without the need for a middleman to host and manage the code and user data. And as more DApps are created each day, a growing number of big data is being generated. A key benefit of DApps is that the data generated is more secure than data obtained through traditional apps. This is because data on DApps is typically stored in decentralized storage systems. Having access to data generated through DApps can result in a number of

TheMerkle Taringa Data Breach

The rise of the Ethereum blockchain has resulted in the creation of thousands of DApps – decentralized applications – that connect users and developers directly, without the need for a middleman to host and manage the code and user data. And as more DApps are created each day, a growing number of big data is being generated.

A key benefit of DApps is that the data generated is more secure than data obtained through traditional apps. This is because data on DApps is typically stored in decentralized storage systems. Having access to data generated through DApps can result in a number of benefits for many industries. However, due to growing concerns involving security, usage rights, data quality, and the like, data sharing has become problematic and risky in both centralized and decentralized ecosystems.

Securing Big Data On The Blockchain

In order to solve the problems associated with data sharing, the App Alliance Association Chain (AAA) came together to form a decentralized, autonomous organization that is applying blockchain technology, smart contracts and consensus mechanisms to create a public blockchain for large-scale data sharing. In December of last year, AAA launched the AAA Chain Project as a standalone public blockchain, committed to building a decentralized, fully autonomous open-data platform consisting primarily of DApps.

The founder of the AAA Chain Project, Song Liu, recently spoke in San Francisco at the 2018 OnePiece Blockchain Summit. During the conference, Song pointed out the huge potential that blockchain technology has to transform the big data industry.

“The possibility of reconstructing the entire big data industry can be performed on the basis of a public blockchain,” Song said. “Using blockchain technology, the big data ecosystem can be rebuilt across industrial application providers, general technology providers and platform application providers. This can be achieved through a decentralized, fully autonomous open-data platform as the cornerstone.”

While blockchain technology has the potential to transform the big data industry in the future, the AAA Chain Project was designed to accommodate a new ecosystem that promotes secure data sharing across DApps.

In contrast to a traditional, centralized open data platform where data could easily be stolen from the cloud, the AAA Chain uses asymmetric encryption algorithms to encrypt data. This means that all data on the AAA Chain network is encrypted and stored by the data provider to ensure that data cannot be accessed by a third party.

For example, when a data provider on the AAA Chain receives a purchase request from an individual carrying the data provider’s public key, the owner of the data decrypts the encrypted data for the data buyer. The data provider then signs the data over with the private key and sends a smart contract to complete the transaction.

Three Key Features Ensure Data Security

While the AAA Chain relies on asymmetric encryption algorithms to encrypt data, the platform has three characteristics that ensure secure, open data sharing.

Those features are: full autonomy, meaning no individual or organization can have full control of the platform or its data; confirmable and traceable data ownership, meaning the rights of the data providers are protected; and end user privacy, meaning users have absolute control over their private data.

1. Full Autonomy of Data

Organizations and individuals can voluntarily join AAA and become nodes in the AAA Chain, as long as the rules based on cryptography and data are agreed upon and understood. One of the main rules is that the openness, transactions and usage of the open data platform cannot be manipulated by anyone in the organization.

2. All Data is Traceable

All data on the AAA Chain is traceable and transparent. The blockchain acts as a distributed ledger which securely records updates, transactions and user behavior associated with all of the data provided. Once these records are confirmed, they can’t be tampered with. This ensures the ownership of all data, which can also be traced on the open data platform. As a result, data usage rights are always protected.

3. Users Control Their Private Data

The AAA Chain combines user privacy protection with user data autonomy. By taking a unified digital identity approach, the AAA Chain platform generates a set of both public and private keys for each user with asymmetric encryption.

In this case, the private key is accessible only by the data provider (the user), and only the person who holds the private key can view the original data. The private key ensures sole control of the data. The user’s private data is signed by the public key, meaning the user can decide who to authorize the data to and what to charge for said data.

The entire process is traceable since everything is recorded on the blockchain. Furthermore, data on the platform has a unique signature. So, if the data buyer resells the data, the income is credited to the initial data provider. A data scoring mechanism is applied, based on smart contracts and community consensus.

Finally, as an incentive to join the AAA Chain network, data providers (AAA members) will receive AAA tokens (ERC-20 tokens) as a reward for joining the AAA Chain. As more quality data is exchanged, more tokens will be rewarded to providers. Moreover, data buyers (advertisers) will also use AAA tokens to pay for data trading. Currently, 21 billion AAA tokens are in circulation.

What This Means For The Future Of Data Sharing

While the AAA Chain takes a particular approach to securing data over an open network, the idea behind the project demonstrates the impact blockchain technology will have on data sharing. Blockchain technology has created a number of opportunities for decentralized models to be applied within various sectors seeking better security solutions.

The big data industry in particular can benefit from a decentralized, open blockchain approach, as its primary problem revolves around security. For instance, traditional relational database passwords are often easy to uncover. Data storage on the blockchain ensures secure hash algorithms and multi-signature features. In the case of AAA Chain, asymmetric encryption algorithms are used to encrypt data, which in turn provides a number of secure benefits. By applying this approach to other use cases, more secure data storage and transactions are sure to be implemented in the future.

Who Is Buying Bitcoin And Cryptocurrencies? – Forbes

ForbesWho Is Buying Bitcoin And Cryptocurrencies?ForbesChuck Jones , Contributor I cover technology companies, worldwide economies and the stock market Opinions expressed by Forbes Contributors are their own. Tweet This. men were more than twice as lik…


Forbes
Who Is Buying Bitcoin And Cryptocurrencies?
Forbes
Chuck Jones , Contributor I cover technology companies, worldwide economies and the stock market Opinions expressed by Forbes Contributors are their own. Tweet This. men were more than twice as likely to own a digital currency than women · the largest ...

Top 5 Upcoming Cryptocurrency Games

TheMerkle Online Gaming MalwareAs cryptocurrency continues to grow, teams and individuals are working every day to bring new and exciting developments to fruition. One sector in which a number of teams are making progress is video gaming. Here are five of the most exciting cryptocurrency games slated to launch in the near future. 5. Augmentors Augmentors is a monster breeding and battling game that takes place in an augmented reality setting, Bello Realm. Similar to CryptoKitties, players work to raise a collection of virtual characters. However, unlike the Ethereum-based game, players in Augmentors must train and battle monsters in order to grow and power them

TheMerkle Online Gaming Malware

As cryptocurrency continues to grow, teams and individuals are working every day to bring new and exciting developments to fruition. One sector in which a number of teams are making progress is video gaming. Here are five of the most exciting cryptocurrency games slated to launch in the near future.

5. Augmentors

Augmentors is a monster breeding and battling game that takes place in an augmented reality setting, Bello Realm. Similar to CryptoKitties, players work to raise a collection of virtual characters. However, unlike the Ethereum-based game, players in Augmentors must train and battle monsters in order to grow and power them up. Additionally, players can collect and equip rare relics and items to further power up their beasts. All items and monsters are fully transferable and tradable between players.

Augmentors is currently in exclusive alpha. The game uses a Counterparty (XCP) asset, Databits (DTB) as its native currency. Additionally, monsters and items are XCP assets similarly exchanged on top of the Bitcoin blockchain.

4. Sarutobi Island

Sarutobi Island is the next manifestation of a growing list of cryptocurrency games under the Sarutobi name. Sarutobi Island is an adventure game where you play as the Sarutobi monkey, crash-landed on an unfamiliar island. From there, you work to complete quests with the aid of monsters summoned by combining Counterparty assets, such as Spells of Genesis cards and Rare Pepes.

The game is currently available for download, though only its first chapter can be played. Further chapters are being worked on by its creator, Mandel Duck. Special cards and monsters can be purchased to help fund the ongoing development.

3. Rare Pepe Party

Rare Pepe Party is a Hearthstone-like trading card game (TCG) that utilizes Rare Pepe assets as cards in the deck. Players can trade Rare Pepes to create the optimal deck, as well as collect them through gameplay. In addition to multiplayer card battles, RPP will offer a single-player story mode where players compete against computers and receive Rare Pepe rewards.

The game has been in development for over a year, and the closed alpha will be released soon and made available to holders of the RAREPEPEPRTY card. This card is sold by the developers to fund progress. In addition to early access, card holders will receive dividends on booster pack purchases once the game is live.

2. Pixel Wars

Pixel Wars is the flagship title and cardinal penetration of mobile eSports by GNation. Pixel Wars is a mobile MMORPG where players fight monsters and other players to level up their characters, obtain better gear, and improve their skills. Pixel Wars is currently in beta, and it is exclusively available on GNation’s mobile app store. When the game is fully launched, it will incorporate the cryptocurrencies of GNation, GameCredits and MobileGO for players to trade items and wager with one another.

When launched, Pixel Wars will reap the benefits of a giant advertising fund, stored since last year’s MobileGO ICO. The launch will surely be exciting, as cryptocurrency aside, the game represents a genuinely fun and top-of-the-line mobile gaming experience.

1. Soccer Manager Crypto

Soccer Manager Crypto, announced just days ago, is the hottest development on this list. SMC is the next iteration of the Soccer Manager franchise, a popular simulation game with millions of downloads. Soccer Manager Crypto is wildly exciting because it is the first example of a full-fledged game built directly on blockchain technology. Soccer Manager Crypto will be the first title launched on the Chimaera network, an ecosystem specifically equipped for creating and connecting serverless games entirely on the blockchain.

Like prior Soccer Manager titles, gamers will manage athletes and work to grow and expand their audiences and stadiums. In Soccer Manager Crypto, every asset – from the game’s currency to players and stadiums – are entirely owned by gamers on the Chimaera blockchain and can be traded or transferred freely. This represents the first example of an immersive Play-to-Earn gaming experience. The game is poised to launch shortly after the Chimaera mainnet is released, following a crowdsale in Q2.

“Real Users”: Bitcoin Donations Helped These Earthquake Survivors Recover – Bitcoin Magazine

Bitcoin Magazine“Real Users": Bitcoin Donations Helped These Earthquake Survivors RecoverBitcoin MagazineThis is the second in a series by Aaron van Wirdum focusing on real people who use cryptocurrencies. Read about his earlier experiences in Ita…


Bitcoin Magazine
“Real Users": Bitcoin Donations Helped These Earthquake Survivors Recover
Bitcoin Magazine
This is the second in a series by Aaron van Wirdum focusing on real people who use cryptocurrencies. Read about his earlier experiences in Italy here: "Real Users": In This Mountain Town, Everyone Knows About Bitcoin. The straight stone road from the ...

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“Real Users”: Bitcoin Donations Helped These Earthquake Survivors Recover

This is the second in a series by Aaron van Wirdum focusing on real people who use cryptocurrencies. Read about his earlier experiences in Italy here: “Real Users”: In This Mountain Town, Everyone Knows About Bit…

Real people: Earthquake Norcia

This is the second in a series by Aaron van Wirdum focusing on real people who use cryptocurrencies. Read about his earlier experiences in Italy here: “Real Users”: In This Mountain Town, Everyone Knows About Bitcoin.

The straight stone road from the partially crumbled city wall to the scaffolded church in the center of the central Italian town of Norcia is empty. It glimmers a bit from the rain; the weather is unusually wet for this region today. Tourists and day-trippers that would usually be strolling around the historic town center on Saturday afternoons like these are nowhere to be seen.

Bad luck for Ilaria and Lorenzo. The couple — both in their thirties, both wearing thick coats, scarves and beanies to keep themselves warm — set up a small mobile bar near the end of the street, under a white marquee; the inside is decorated with pictures of flowers. It’s all part of a local street market festival.

There, they sell saffron and beer produced with saffron, produced from the thin reddish stalks plucked from the crocus. It’s a delicacy, Lorenzo explains, as he hands out taster-sized plastic cups with beer. “Pound-for-pound among the most expensive products in the world,” he says.

It’s been almost 18 months since the Norcia area was struck with a seismic shock of 6.2 on the Richter scale: an earthquake that many of the old brick homes typical of the Mediterranean countryside could not withstand. Whole street blocks had collapsed, claiming hundreds of casualties.

earthquake peopleIlario and Lorenzo in their market stand bar

Ilaria and Lorenzo got out safely, but their home was destroyed and their town, San Pellegrino di Norcia, is abandoned. They now live in a small, prefabricated house on the edge of Norcia.

Yet, Ilaria and Lorenzo have been able to keep their saffron business running, even after disaster struck their lives. They rebuilt parts of their organic plantation with financial help from Legambiente, a charity-based NGO dedicated to the earthquake recovery efforts.

This financial help did not come in euros. Legambiente had no euros left, Ilaria and Lorenzo were told when they applied for a reimbursement about a year ago; only bitcoin. The two had heard of the digital currency a couple of years ago when they were researching local money systems. But they had never owned any themselves.

“We would have preferred euros if it was available,” Ilaria admits, sitting down on one of the wooden benches they installed in the marquee. There are no potential customers stopping by, so she has time to talk about her experience. “But bitcoin was, of course, better than nothing, so we gladly accepted.”

Helperbit

GuidoGuido Baroncini Turricchia, founder of Helperbit

The reason Ilaria and Lorenzo received bitcoin is Guido Baroncini Turricchia. The 39-year old Italian environmental engineer is the founder of Helperbit, a Rome-based startup that leverages bitcoin for fundraising campaigns.

Bitcoin is particularly well-suited to these types of causes, Baroncini Turricchia thinks, because of the transparency it provides. Through Bitcoin’s public blockchain, donors can trace the funds they donate and be sure that they really end up at the Bitcoin addresses of the intended recipients of the money — and nowhere else.

“Helperbit was only four months old when disaster struck Norcia,” Baroncini Turricchia recalls, as we are driving in his car from Rome to the disaster-struck town.

“For any natural disaster it takes a couple of days before media attention catches onto the scope of the event and for donation infrastructure to be set up. As the fundraising campaign starts, the amount of incoming donations reaches a peak within one or two weeks. It then fizzles out over the next couple of months or years,” he explains, as he uses his finger to draw a long-tailed, skewed bell-curve through the fogged interior of the windshield in front of him.

The number of incoming donations for Norcia was already past its peak when Baroncini Turricchia was still looking for an NGO that would take bitcoin donations through Helperbit. Most of them were skeptical, even though he offered to set up integration for free. After several rejections, Legambiente was the first and only NGO that took Baroncini Turricchia up on the offer.

“They were initially skeptical too,” Baroncini Turricchia said. “News coverage about Bitcoin had been negative overall. But they ultimately agreed to give it a try.”

Even though Helperbit was late — it was November before it was all set up — the project was still able to collect more than 10 bitcoins over about a year’s time. The coins became part of Legambiente’s budget, set up to reimburse local entrepreneurs on some of the costs they had to make to keep their businesses running.

“There are still bitcoins in the fund,” Baroncini Turricchia said. With bitcoin’s price increase over the past year, the euro value of this fund is up quite a bit as well. “But I’m not sure many people in Norcia know about it. For now, Legambiente still controls what’s left.”

An Unexpected Windfall

Ilaria and Lorenzo are two of five earthquake victims who have taken bitcoin reimbursements, so far. A third, Ilaria and Lorenzo’s friend Alessia, is also at the festival.

Wearing a green baseball cap representing the local farmer cooperative, Alessia has set up her booth to the left of the saffron bar. She sells cheese produced at her local sheep farm, as well as different types of nuts, all displayed on top of bales of hay.

earthquake marketAlessia at her cheese and nut stall with Ilaria and Lorenzo’s bar in the background

Alessia took a big hit when the earthquake struck: She lost both her home and the stable for her farm. She says that she too would have accepted euros from Legambiente, if that had been an option: “I didn’t think bitcoin was real.”

Yet, having been introduced to the cryptocurrency by Baroncini Turricchia, who also personally helped her set up a Helperbit wallet, she decided to keep it.

“Guido told me it could go up in price,” she explains. “Maybe to 6,000 euros, if all went well.” She had received about 5,000 euros worth in June of 2018.

She didn’t think about her bitcoin much over the following months — not until her mother saw an item on the news this January: the price had crashed almost 40 percent within days. Concerned by the message from her mom, Alessia contacted Baroncini Turricchia to ask how much of her 5,000 euros worth of bitcoin was left.

It’s only then that Alessia learned to which level the price had actually “crashed”: “My 5,000 euros worth of bitcoin had not decreased in value at all. It had increased to around 20,000 euros.”

Guido grins while he helps Alessia translate her story from Italian into English. He’d known back in June that the price could go up far more than 20 percent. He just hadn’t wanted to raise her expectations too high.

Alessia continues her story. Delighted with the news, she decided she wanted to sell most of her coins. She needed a new cheese machine. She signed up for The Rock Trading, a Malta-based exchange operated by Italians. Here, she encountered her first problem.

“They required a copy of a utility bill to prove my home address,” she explains, with a sarcastic smile. “I don’t have an address anymore.” She still lives in emergency housing, best described as a sea container with a door and windows, next to a gas station just outside of Norcia.

Helped by the town mayor who provided her with a signed letter for the verification process, Alessia managed to get verified in the end. “But I still didn’t sell all of my bitcoin, I’m holding onto what I’ve got left,” she says. “At least until bitcoin reaches 100,000 euro.”

The Case for Bitcoin

Baroncini Turricchia is himself a Bitcoin enthusiast; he spent much of the drive to Norcia philosophizing on the consequences of hyperbitcoinization and speculating on Satoshi Nakamoto’s identity. But like Ilaria, Lorenzo and Alessia, his decision to use bitcoin is also practical.

The transparency provided by Bitcoin is unique compared to existing payment systems. Even funds donated in fiat currency — which is also possible via Helperbit — are converted into the cryptocurrency, which allows donors to track their own funds.

But that’s not all. If they want to, donors can also show to the world that they contributed; HelperBit even includes a provably fair ranking for donors.

Further, Baroncini Turricchia plans to extend that traceability to merchants who serve NGOs in disaster-struck areas, selling tents, sheets, food and more. Donors would know not only which victims received the funds but also where and how the funds were spent. Deals with such merchants could ultimately offer a profit opportunity for Helperbit, which is itself a for-profit company.

Transparency is not the only Bitcoin feature leveraged by Helperbit. Perhaps most obviously, the cryptocurrency is well suited for fast and cheap international payments, allowing donors to support causes anywhere in the world. To prevent anyone meddling with data, Helperbit also timestamps invoices on Bitcoin’s blockchain, like the invoices provided by Ilaria, Lorenzo and Alessia to claim their reimbursement. In the longer term, Baroncini Turricchia wants to establish a reputation system to let donors send bitcoin to victims directly, peer-to-peer.

At the same time, Bitcoin has presented its challenges. “The biggest problem is key management,” Baroncini Turricchia said. “It doesn’t matter how strongly we emphasize that private keys are crucial: It’s hard for people to understand that, without them, the money is literally gone, in a way that not even Helperbit can recover it.”

In part to mitigate this risk, Helperbit sets up a multi-signature solution. Legambiente, in this case, holds three keys assigned to three different people. Helperbit keeps one. Of this total of four keys, three keys are required to unlock the funds on Bitcoin’s blockchain.

“If Legambiente loses one key,” says Baroncini Turricchia, “they should contact us immediately to help send the funds to a new address. This has already happened once.”

Ilaria and Lorenzo, of course, did not choose Bitcoin for such practical reasons at first: It was simply the only option available. But now, as they learn more about the cryptocurrency, the couple is starting to see some benefits as well.

“It is the most transparent currency in the world,” Lorenzo says, when asked what he knows about Bitcoin by now. “And politicians don’t like it,” he jokes. “That’s a good sign.”

The two are now considering opening a webshop to sell saffron for bitcoin, most likely through OpenBazaar. Baroncini Turricchia recommended it because the peer-to-peer marketplace includes a built-in, dispute resolution solution. OpenBazaar will allow them to sell their saffron internationally, opening them up to a new market of bitcoin users, they hope.

Online, at least, the rain shouldn’t affect their sales.

Some of the quotes from this article were loosely translated from Italian.


This article originally appeared on Bitcoin Magazine.

Binance Seeks New Home in Malta’s Fintech-Friendly Environment

After facing crackdowns in China and being issued a warning by regulators in Japan, cryptocurrency exchange Binance is now seeking a home on the crypto-friendly island nation of Malta, the company’s CEO Zhao Chan…

Binance in Malta

After facing crackdowns in China and being issued a warning by regulators in Japan, cryptocurrency exchange Binance is now seeking a home on the crypto-friendly island nation of Malta, the company’s CEO Zhao Changpeng told Bloomberg.  

Malta is known for extending open arms to fintech and blockchain technology. Malta Prime Minister Joseph Muscat underscored that policy when he shared the Bloomberg piece on Twitter, stating, “We aim to be the global trailblazers in the regulation of blockchain-based businesses and the jurisdiction of quality and choice for world class fintech companies.”

Since it was founded in Hong Kong in 2017, Binance has grown rapidly to become the largest exchange in the world by trading volume. Establishing itself in Malta could open doors to even larger growth. Currently, the exchange is negotiating with banks in Malta to set up a formal banking partnership, Zhao told Bloomberg.

If it succeeds, that means Binance, which now offers only crypto-to-crypto trading pairs, will be able to offer crypto-to-fiat trading pairs. In that sense, Binance would operate similar to U.S.-based exchange Coinbase, where users have direct links to their bank accounts and can withdraw and deposit fiat.

Banking relationships are essential to the livelihood of exchanges. Without the ability to allow customers to move in and out of the fiat world, exchanges turn to stable tokens, like tether (USDT) or trueUSD (TUSD), as a fiat alternative and to protect against market volatility. But stablecoins present their own class of problems. For instance, it is not necessarily clear if they are backed by real dollars.

Despite that, Malta may be the quiet home Binance is looking for. In April 2017, Malta rolled out an ambitious strategy for blockchain technology in a push for the small Mediterranean country to become a “Silicon Valley” of Europe. Currently, Malta is in the process of setting up a Malta Digital Innovation Authority to certify blockchain companies and establish a legal framework for initial coin offerings (ICOs).  

Malta is among several small European countries, including Lithuania and Belarus, that are creating fintech-friendly regulatory environments to capture a larger role for themselves in the growing blockchain and financial technology space.

This article originally appeared on Bitcoin Magazine.

Nikkei Claims Criminal Charges Can Be Filed Against Binance, CEO Clears up FUD

Japanese mainstream media outlet Nikkei reported earlier this week that criminal charges could be filed against Binance if it failed to halt its Japan operations. Binance CEO Changpeng Zhao swiftly responded to the report, stating that it was “irresponsible journalism.” On March 22, Nikkei reported that the Japanese Financial Services Agency (FSA) had warned Binance about its operations in Japan and asked the cryptocurrency exchange to stop providing its service to investors based in Japan. Nikkei’s initial report read, “Criminal charges to be filed if Binance fails to halt Japan operations.” However, Zhao revealed that the Binance team had been communicating with Japanese financial

Japanese mainstream media outlet Nikkei reported earlier this week that criminal charges could be filed against Binance if it failed to halt its Japan operations. Binance CEO Changpeng Zhao swiftly responded to the report, stating that it was “irresponsible journalism.”

On March 22, Nikkei reported that the Japanese Financial Services Agency (FSA) had warned Binance about its operations in Japan and asked the cryptocurrency exchange to stop providing its service to investors based in Japan. Nikkei’s initial report read, “Criminal charges to be filed if Binance fails to halt Japan operations.”

However, Zhao revealed that the Binance team had been communicating with Japanese financial authorities and the FSA. He further emphasized that it was irresponsible for Nikkei to report on an ongoing situation that requires both Binance and the FSA to cooperate to ensure that the Binance trading platform can serve Japanese customers without being in conflict with the country’s regulations.

“Nikkei showed irresponsible journalism. We are in constructive dialogue with Japan[‘s] FSA, and have not received any mandates. It does not make sense for JFSA to tell a newspaper before telling us, while we have an active dialog going on with them,” said Zhao in a statement.

About 15 hours after Zhao released that statement, he stated that the Binance team had received a simple letter from the FSA requesting Binance to comply with Japanese regulations. Since the Japanese government requires every exchange within the country to obtain a license from the FSA, the letter likely asked Binance to register with the FSA to obtain a license to operate as an exchange.

“We received a simple letter from JFSA about an hour ago. Our lawyers called JFSA immediately, and will find a solution. Protecting user interests is our top priority,” said Zhao. He added that in the long term, the current situation could turn out positive for the company, as it could provide an opportunity for the firm to continue operating in Japan as a properly regulated and licensed exchange.

“No need to worry. Some negative news often turn[s] out to be positive in the long term. [The] Chinese have a proverb for this. New (often better) opportunities always emerge during times of change,” Zhao explained.

Since the bankruptcy of now-defunct cryptocurrency exchange Mt. Gox, the Japanese government has strictly regulated its cryptocurrency exchange market, demanding that every trading platform obtain a license to operate as a regulated financial service provider, essentially with bank status.

The regulatory program of the Japanese government for the cryptocurrency market has proven to be positive, as Japan quickly became the largest cryptocurrency exchange market internationally, overtaking the US. According to cryptocurrency market data provider CryptoCompare, Japan accounts for 56 percent of bitcoin trades.

Since 2015, Japan has focused on responding to the growing demand for cryptocurrencies from the nation’s investors, and has imposed practical policies on the cryptocurrency market. It is in the best interest of the Japanese government, given its enthusiastic approach toward growing the country’s cryptocurrency industry, to cooperate with Binance and allow the exchange to operate as a regulated exchange.

Hence, in consideration of Binance’s track record of being in compliance with Japan’s regulations in all major regions, the Binance team will likely reach an agreement with the Japanese government in the mid term, which would be positive for Binance users, Japanese investors, and ultimately the Japanese cryptocurrency market.

3 Lesser-Known Ways of Using Blockchain Technology

using blockchainYou’re probably tired of hearing about blockchain technology’s decentralization and transparency by now. Its much-touted immutability is also getting pretty old. We all know that in one way or another, blockchains are going to be disruptive, possibly across all industries. But what you may not have thought of yet is how certain seemingly unrelated sectors will be affected. Beyond finance and cybersecurity, supply chains and medical records, check out these lesser-known ways of using blockchain technology now and in the future. Gaming In an industry characterized by evolving technology (we’ve come a long way since the Atari), it’s perhaps unsurprising that

using blockchain

You’re probably tired of hearing about blockchain technology’s decentralization and transparency by now. Its much-touted immutability is also getting pretty old. We all know that in one way or another, blockchains are going to be disruptive, possibly across all industries. But what you may not have thought of yet is how certain seemingly unrelated sectors will be affected. Beyond finance and cybersecurity, supply chains and medical records, check out these lesser-known ways of using blockchain technology now and in the future.

Gaming

In an industry characterized by evolving technology (we’ve come a long way since the Atari), it’s perhaps unsurprising that blockchain technology and gaming are a match made in heaven. But with a burgeoning market for digital objects within the gaming world, there’s still no viable way of cashing them in for tangible goods in real life – as of now, anyway.

It turns out that blockchain technology provides the perfect platform for avid gamers to trade their digital items… for more digital items. Or currency, if they prefer. Just a few nerds getting up to more bedroom antics? Well, maybe. But the virtual goods economy is already valued at over $15 billion, which isn’t exactly peanuts.

e-Commerce

Open source software that may revolutionize the way we buy and sell things online is just beginning to emerge. With the global e-commerce industry set to approach $5 trillion by 2021, perhaps it’s time for monopolists like Amazon to feel the pinch. Despite enjoying the convenience, choice, and speed that comes with internet shopping, wouldn’t it be gratifying to cut out the middleman completely?

True to blockchain philosophy wherein individuals can buy and sell freely and manage their own wealth, soon we’ll be able to buy and sell directly, with no central authority involved. This will reduce markup costs for consumers and cut down fees for vendors as well.

Online Advertising

With almost half of millennials using ad-blocking software of some kind, and Gen-Z pretty much immune to ads altogether, the future of online advertising looks shaky, to say the least. The General Data Protection Regulation (GDPR) is set to drop another bomb later this year, and Facebook’s already been slapped on the wrist for using private data illegally.  

With so many companies willfully using (and abusing) our data without our consent, blockchain technology could soon stop them in their tracks. By democratizing data and removing a central owner, the blockchain shifts ownership of data back to the consumer. Already, the data stored within the blockchain is valued in the trillions of dollars, and consumers can soon start to capitalize on that by making money off their information.

Cryptocurrencies have the potential to transform the way we transfer goods and information forever, by making it possible to assign value to the smallest fragments of data. From the number of steps you took today to the types of entertainment you watch, micropayments will allow you to monetize your data. You can then trade it with advertisers directly or deny access, should you choose, with no more infringements going on without your knowledge.

NEO, EOS, LTC, IOTA, Lumens: Technical Analysis March 24, 2018

While Ace is up 157%, BTC could only muster a 0.2% gain helping slow down the altcoins slide. Generally speaking, NEO, LTC, EOS, IOTA and Lumens are better off than yesterday’s uniform drop. Why not? With Binance announcement and quashing of potential JFSA FUDs, cryptocurrencies should fair relatively well. Binance will instead shift their focus … Continue reading NEO, EOS, LTC, IOTA, Lumens: Technical Analysis March 24, 2018

The post NEO, EOS, LTC, IOTA, Lumens: Technical Analysis March 24, 2018 appeared first on NewsBTC.

While Ace is up 157%, BTC could only muster a 0.2% gain helping slow down the altcoins slide. Generally speaking, NEO, LTC, EOS, IOTA and Lumens are better off than yesterday’s uniform drop. Why not? With Binance announcement and quashing of potential JFSA FUDs, cryptocurrencies should fair relatively well. Binance will instead shift their focus to Europe and already plans to open an office in Malta.

Basing our preview from the charts, we expect some gains in NEO, LTC and even IOTA whose candlestick by the way has a long lower wick hinting of bull pressure.

In NEO, our support lies at around $55. Anyway, if this week is technically influential, then prices should end above last week’s highs and beckon buys.

Let’s have a look at these charts:

XLM/USD (Stellar Lumens)

Stellar Lumens Technical Analysis
XLM/USD Bittrex 4HR Chart for March 24, 2018

Even though we cannot see strong movements in the daily chart, there is a little bit of movement in the 4HR chart.

Apparently, Lumens prices are reacting at the break out level. This might be because of Stellar Lumens’s announcement of their Lightning Network plans.

Anyway, technically buyers are rejecting further depreciation and with a stochastic buy signal at break out level of $0.20, prices might find support today.

I’m net bullish and as long as there is a confluence of buy signal stochastic buy signal in the both time frames under our focus, yesterday’s forecast won’t change.

However, if sellers gear up and drive prices past last week’s lows of $0.15 then I shall reconsider my skew.

IOT/USD (IOTA)

IOTA Technical Analysis
IOT/USD BitFinex Daily Chart for March 24, 2018

As per yesterday’s forecast, I recommend buyers to take their long profits and wait for IOTA trend definition.

Of course, considering our projection over the past few days, if indeed the bull momentum is strong as the stochastics indicate then buyers would have to negate last week’s bears.

It is for this reason that we should have favorable buy limits above $1.45 and wait for a bullish break out above the 20 period MA and 78.6% Fibonacci retracement line.

EOS/USD (EOS)

EOS Technical Analysis
EOS/USD BitFinex Daily Chart for March 24, 2018

Positive fundamentals should buoy EOS in the coming days but most importantly, odds are it will close the week on a high.

Consequently, such bullish candlestick will result in a double bar bull reversal pattern in the weekly chart and probably lay the foundation of bull pressure.

Most notably, this pattern will be at key support level-the 78.6% Fibonacci retracement level and a mark hinting of EOS drastic lose from glory.

So far, buyers are keeping prices above the 20-period MA and $6. Besides, those long lower candlestick shows rejection of lower prices and as such, I recommend longs in lower time frames especially when buyers muster a close above March 22 highs at $7.2.

LTC/USD (LTC)

LTC Technical Analysis
LTC/USD CoinBase 4HR Chart for March 24, 2018

From the charts, LTC are drawing bulls Picassos but unfortunately, the resistance trend line as visible in the 4HR chart threaten to smudge this master piece.

All we can say is that it has been a patience game but with a stochastic buy in place, I expect higher highs and probably a break out. When that happens, then I will recommend buys and trade according to our previous game plan.

NEO/USD (NEO)

NEO Technical Analysis
NEO/USD Bittrex 4HR Chart for March 24, 2018

Alt coins are following the same script and the correlation with BTC is a no-brainer. As it is, our main support lies at $55 and that’s a ball park figure where NEO is finding support complete with a stochastic buy signal.

As long as prices are kept above $50 or the 78.6% Fibonacci level marking last week’s lows, I’m net bullish.

This means if there is confirmation of these recent higher highs in the 4HR chart, buyers can as well look for longs above $80.

All BitFinex, Bittrex and CoinBase charts courtesy of Trading View

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TMX to Launch World’s First Stock Exchange Cryptocurrency Brokerage Service

The Toronto Stock Exchange’s pioneering TMX division is partnering with Paycase Financial to launch a special brokerage service that will provide data and investment advice for investors about cryptocurrencies, i…

TMX to Launch World’s First Stock Exchange Cryptocurrency Brokerage Service

The Toronto Stock Exchange’s pioneering TMX division is partnering with Paycase Financial to launch a special brokerage service that will provide data and investment advice for investors about cryptocurrencies, including bitcoin and ether.

TMX Group’s new, wholly-owned subsidiary, Shorcan Digital Currency Network has entered into an agreement with Paycase Financial to provide information and build data benchmarks to show the ongoing status and price of different cryptocurrencies.

Paycase will be helping to build out the technology needed to create these ongoing data benchmarks and indices, which will be based on consolidated data from global cryptocurrency exchanges, as well as from international, over-the-counter trading volume.

The long-term goal is to market these indices with associated technology around the world.

John Lee, managing director, Enterprise Innovation & Product Development of TMX Group, said in a news release:

“Shorcan DCN represents a significant step forward in the execution of TMX Group’s digital strategy. As new technologies continue to reshape the global financial industry, we continue to explore new ways to evolve our business to address client needs in both traditional and non-traditional markets.”

Paycase, a Toronto-based cryptocurrencies startup, is best known for its mobile-first remittance platform and service.

Joseph Weinberg, Paycase Financial CEO and OECD think tank special advisor, told Bitcoin Magazine:

“We are thrilled about this partnership between Paycase Financial and the TMX. As the first ever public crypto brokerage desk by an exchange, this deal represents the true institutionalization of cryptocurrencies as an asset class.”

The TMX Group has embraced new innovation in the past and has gone ahead of other exchanges, listing new startups in the cryptocurrency and blockchain sectors as well as new medical marijuana companies.

“With this partnership, we have built the first major bridge between the crypto world and the traditional financial markets. This is just a taste of more things to come from the collaborative and tight-knit Canadian community as we build out more products for the world,” added Weinberg.

Kyle Kemper, executive director of the Blockchain Association of Canada, told Bitcoin Magazine:

“This partnership signifies a collaborative convergence of regulators, financial incumbents and innovators that could open the floodgates for digital currency adoption across new markets.”

He says that this announcement is “just the tip of the iceberg” for the Canadian blockchain industry, where he expects to see more innovators partnering and collaborating with sector leaders “to realize the benefits of this new paradigm shift.”

This article originally appeared on Bitcoin Magazine.

GhostMiner: Crypto-Jacking Software Removes Other Miners so It Can Mine Monero

Security researchers at Minerva Labs have uncovered a new strain of cryptocurrency mining malware, dubbed GhostMiner, which uses “fileless” malware delivery techniques to land on systems. What makes it particularly remarkable is that if other crypto-jacking malware is already in the system, it will fight to remove it so it can mine Monero itself. That said, in … Continue reading GhostMiner: Crypto-Jacking Software Removes Other Miners so It Can Mine Monero

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Security researchers at Minerva Labs have uncovered a new strain of cryptocurrency mining malware, dubbed GhostMiner, which uses “fileless” malware delivery techniques to land on systems. What makes it particularly remarkable is that if other crypto-jacking malware is already in the system, it will fight to remove it so it can mine Monero itself.

That said, in spite of this novel and advanced technique, Ghostminer has — as of yet — failed to earn any substantial revenue for its creators: after a three-week-long campaign, GhostMiner only racked up 1.03 Monero, which as of now is worth just over $200. This, of course, is nothing compared to other operations, like the Jenkins miner, which made over $3 million in Monero earlier this year.

Advanced Techniques

While GhostMiner, as of yet, has not been a financial success, the malware is certainly not a technical fiasco.

First off, this approach is the first fileless crypto-mining malware strain detected. The fileless technique has become quite popular with malware in recent years, allowing operations to run malicious code directly from memory, without leaving files on disk, therefore leaving fewer clues for antivirus engines to detect.

Further, GhostMiner employs other advanced techniques to hunt down competing miners and shutting down their processes. These include killing running miners by using PowerShell’s “Stop-Process-force” command with the aid of a hard-coded blacklist, stop and delete blacklisted miners, and even removing miners which are run as blacklisted scheduled tasks.

As for targeting, GhostMiner can infect systems running MSSQL, phpMyAdmin, and Oracle WebLogic servers. But according to Minerva Labs experts, only the WebLogic infection system was active when they analyzed the recent campaign.

While the techniques utilized by GhostMiner aren’t necessarily new by themselves, this is the first time they have been used together in one malicious application. And one thing’s for sure, they illustrate that GhostScript’s operators put a lot of thought into assembling their code, which shows just how far malware developers are willing to go to earn their illicit gains. 

Minerva Labs

Despite it’s lack of apparent monetary success so far, Minerva researchers couldn’t let GhostMiner’s authors efforts go to waste: the firms researchers have decided to turn the tables by using GhostMiner’s advanced competition-killing techniques against it and other mining malware.

The anti-malware platform has released a script, extracted from GhostMiner, that they call MinerKiller. “It implements all the aforementioned tactics – removing known processes, tasks, and services by name and unfamiliar ones by arguments or TCP connections typical to miners,” Minerva Labs said.

MinerKiller can be downloaded from GitHub, but Minerva Labs includes a warning: it’s not liable for any misuse of the script and users should take time to understand it thoroughly before use.

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