Day: March 28, 2018

March 28, Berlin

Trinity Foundation has always been breaking new grounds in the development of the Trinity Network. The TNC cross-chain asset converter, released at the Beilin Conference, marks a significant landmark in Trinity’s broader application.

By using the TNC cross-chain asset converter, TNC can be converted to ERC20 (asset on Ethereum blockchain) from NEP5 (asset on NEO blockchain). We believe the conversion brings the following benefits.

1. ERC20 TNCs can be used on more exchanges that only support Ethereum assets, thus increasing liquidity.
2. Apart from buying on exchanges, we can get ERC20 TNCs by converting NEP5 TNCs.
3. ERC20 TNCs will be an important economic tool for Trinity to expand its territory, i.e. what many people say “Trinity for Ethereum”.

How to convert TNC assets:

First, send NEP5 TNCs to the conversion address on Neo mainnet with the recipient address on Ethereum attached. Once confirmed by the cross-chain witness, TNC will be frozen by the Neo conversion address and the Ethereum conversion contract (for security purposes, we have deployed ENS address for confirmation, i.e. trinityprotocol.eth) will send equal amount of ERC20 TNCs to the recipient address that the user inserted before. It is the same process to convert ERC20 TNCs to NEP5 TNCs.

(Scan the QR code of the conversion address and transfer. Note that the amount you insert needs to be a little bit more than the actual amount as a random number to differentiate each transfer.)

(after transfer, waiting for confirmation by the witness, freezing and release of ERC20 TNCs)

(ERC20 TNC released)

The amount of ECR20 TNCs (or the amount that trinityprotocol.eth has) is the same as that of NEP5 TNCs, which is 1 billion, but only 1 billion TNCs are in activation at the same time. For example, if 30% NEP5 TNCs are frozen and 70% are activated, then 30% ERC20 TNCs are activated and 70% are frozen. That’s to say, TNCs on Ethereum are not new tokens or add-issued tokens.

(Note that “frozen” here means that TNCs are frozen in the conversion address and has nothing to with the lock contract. )

At the current stage, for security reasons, Trinity Foundation is the only cross-chain witness to ensure that assets in all unsuccessful cross-chain transactions can be refunded. Although all transaction records can be checked on-chian, only Trinity Foundation has the right incentives to make sure operations can be undone and the conversion address is correct.

In the future, if there is demand for frequent Neo-Ethereum TNC conversion, we will offer such services and allow more nodes to be the cross-chain witness. But we need to point out that if there is no such demand, no one is willing to pay for this, and there is no economic incentives to allow other nodes to be the witness.

The above images show cross-chain conversion on Neo and Ethereum testnets. The official version will be released in about 2 weeks when users will be able to use it on trinity.tech.

Based on the feedback from our community, we will launch Trinity Loyalty Rewarding Initiative at the end of March, from which users can lock their TNC and get rewards after unlock. Please stay tuned for our announcement at the end of this month.

The Trinity Network has been significantly updated compared with its original design. Our 2nd edition testnet willl be released at the end of this month. Since its official release, Trinity is meant to be a fully decentralized and autonomous second layer network where ordinary people can participate and operate nodes to reap economic benefits.

We are promoting commercial landing of our project, especially building a closed ecosytem of dapp sdk, nft asset transaction and wallet. Before the release of our pilot project, we hope developers who are interested in this could contact us to discuss how to make a trade-off between decentralization and performance using second layer network.

Trinity Community：

https://t.me/TrinityStateChannels

Twitter:

@trinityprotocol

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.

Many financial technology companies have recognized the potential of cryptocurrencies and have adopted the mainstream ones to be offered as an investment option. The NAGA Group has always been enthusiastic about harnessing the blockchain potential for financial markets. Being a fully functional, publicly traded company, the NAGA Group aims to introduce a trading world that is free of commission.

NAGA became the world’s first ICO participant to have already held an IPO last year.  

About NAGA

NAGA’s products offer everyone easy and simple access to acquire, store, trade and invest in financial markets, cryptocurrencies, and virtual goods. NAGA owns several EU financial licenses. It has the advantage of being an already publicly trading fintech business founded in 2015. The NAGA Group has set up many companies that are leveraged on the latest technological changes in the financial markets. Their products include:

NAGA Trader

NAGA Trader is the product of NAGA that enables traders to trade stocks on a social network. It is also called the “Facebook” or “Social Network” of trading. At NAGA Trader, traders can trade or invest in a range of financial instruments like market indices, CFDs, and forex in a secure and transparent manner.

Switex

Switex, another product is an exchange for in-game digital goods backed by the blockchain. With the platform, users will be able to trade their in-game items, generating value from their time and passion. The platform also provides a space for the publishers to sell their virtual goods.

Through their token sale, the NAGA Group has introduced the NGC (Naga Coin) and NAGA Wallet. The NAGA Wallet lets users buy assets listed on Switex and NAGA Trader with NGCs.

The Market Reputation

The NAGA Group has the advantage of already having 3 to 4 billion dollars’ worth of monthly trading volume on its platform. The group has also acquired investments from the global financial community, including one of the oldest banks in Europe, Hauck & Aufhaeuser. Being a fully functional entity with a growth rate of 400% since its IPO on the Frankfurt Stock Exchange (FSE), the group reflects high stability in the ICO market. NAGA has got numerous financial licenses from CySEC and BaFin, while all of its operations are backed by a sound legal set up.

Looking Forward

With the current market cap of 200 million Euros, the NAGA Group is all set to revolutionize the way the banks and financial institutions work and provide the latest banking technology to the unbanked. By fundamentally democratizing the way traders trade stock with NGC, the company intends to offer equitable financial tools to the traders and investors who previously may not have had any access to them. Though a minimal commission is to be applied in the beginning, the NAGA Group intends to eliminate the 10% commission by early 2019.

To know more about the platform and start trading in an ever-expanding, transformational exchange, please visit https://www.nagamarkets.com/

The post NAGA to Revolutionize the Financial Markets & Stock Trading appeared first on NewsBTC.

Tether still mum on canceled audit, but continue to issue USDT tokens. #ANALYSIS

This article originally appeared on Bitcoin Magazine.

The logistics industry in 2018 is a field hungry for innovations. Its main problem is still the human labor: not only is it pricey, but it is also not productive. That’s why Amazon has started using drones in their storehouses as they are more efficient and way cheaper in the long run.

In Russia, SKYF company is in the avant-garde of implementing unmanned carrier platforms. They have run several successful tests in the farming sector already, and with each passing day, SKYF gets more clients. But the problem is: if we use the unmanned carrier platforms, who will be in control of the operations done by the drones? How to make the system transparent for all counterparts? SKYF has figured out: blockchain is the ultimate solution.

SKYFchain, Unchaining Cargo Industry

Why blockchain? According to Alexander Timofeev, SKYFchain CEO, it was a very natural decision:

“We were thinking of the project’s operational part, not only about the drones but about how to make their functioning crystal-clear for the clients. We’ve asked ourselves: who will be responsible for the security, who will verify all the data? Blockchain allows to do it all. We thought: if our clients worry about the security and prefer to keep control, the blockchain solution is the best. Our aim is to give the clients exactly what they need”.

The huge plus of the blockchain solution is that it allows creating decentralized registers of information, supported by many parties at a time. The data stored within the blockchain is completely safe: it cannot be deliberately changed, damaged or hacked. This guarantees information security and full transparency. It also minimizes the role of all kinds of mediators and brokers in the process — which means, the unmanned cargo logistics can become unmanned at almost all stages.

The use of blockchain technology will reduce costs in the industry and bring the quality and the speed in it to a new level. The implementation of smart contract technology will mean a real revolution in the logistics industry.

How It Works?

The blockchain platform SKYFchain will record all the important events happening to a cargo robot within the supply chain. Every record made will have an own cost (denominated in a traditional currency and depending on the frequency of the transaction and other factors).

The system will generate invoices for a client to pay in any suitable way. The money received by the system will then be automatically converted into SKYFT tokens, as the smart contract logic only recognizes tokens and not the traditional currencies. After the invoice is paid, the operations can be processed by the drones. The platform will be able to implement financial calculations and logistics schemes of any delicacy.

SKYFChain will make the interaction between operators and their customers significantly easier. Moreover, it will give the institutions involved (think of financial and governmental organizations) a perfect instrument to control the assets. As a result, the SKYFchain distribution system will unite all the participants of the market. The sustainable development of the SKYFchain will be insured by automatically transferring 25% of every token used in the system to the Development Fund.

On March 1, 2018, the pre-ICO of SKYFchain was launched. The platform released 1.2 billion SKYFT tokens at a price of 3.9 cents. It is already pretty clear that the investors love the idea of SKYFchain. And, this is exactly what SKYF was counting on: to see an enthusiastic response from the market and make sure the project will draw enough ambassadors to spread their ideas further.

The post SKYFchain: Communication with Drones Made Reliable appeared first on NewsBTC.

The German National Tourist Board is now accepting Bitcoin and other cryptocurrencies for its services. #NEWS

This article originally appeared on Bitcoin Magazine.

The Secretary of the Commonwealth of Massachusetts Securities Division has stopped five firms — Mattervest, Pink Ribbon, Across Platforms, Sparkco, and 18moons — from conducting initial coin offerings (ICOs) for cryptocurrencies.

William Galvin, the state’s top securities regulator, has ordered the firms to stop the sale of the “unregistered securities.” The developments represent the latest steps taken by Massachusetts with regard to ICOs, earlier this year the state filed a similar suit against an ICO organizer and his company for offering unregistered securities.

While none of the firms responded to Reuters requests for comments, Mattervest’s website featured a message saying the firm has ceased operations, and the website for Pink Ribbon, a Facebook page, simply showed a message saying it was unavailable.

The firms were all either incorporated in Massachusetts or named the state as their principal place of business. The ICOs were advertised on Twitter, YouTube, Reddit, and other social media websites. No one associated with the sales were registered with Massachusetts securities regulators to offer or sell securities.

“An offering done to avoid registration with regulators should be seen as a red flag, and you should contact my office before investing,” Galvin cautioned.

Regulators have been getting tougher on ICOs in recent months, with U.S. Securities and Exchange Commission (SEC) Chairman Jay Clayton saying that most digital coins were effectively securities and should be regulated by the agency. The SEC is also investigating coin issuers that may have breached the agency’s rules.

ICOs and advertising bans

Social media giants have also been clamping down on ICOs. This week, it was revealed that Twitter is preparing to prohibit cryptocurrency ads on its site, specifically advertisements for ICOs, token sales, and cryptocurrency wallets. It is also likely the social media site will ban all crypto exchange ads, with a few exceptions.

This follows Facebook‘s decision to ban ads that promote “financial products and services frequently associated with misleading or deceptive promotional practices.” Beyond its own app, Facebook will also ban such ads on Instagram and within its network of third-party apps.

Earlier this month Google announced its decision to not run ads for cryptocurrencies as part of its efforts to clamp down on advertisements that run afoul of its policies. The company said the new policy, which is set to go into effect in June, will ban ads for cryptocurrencies, crypto-related content, and financial spread betting, among other things.

In related news, the newly formed Eurasian Blockchain Association — which is made up of different crypto-groups from China, Russia, and South Korea — are taking their frustrations with the bans to the courts: the Association plans to sue Facebook in a lawsuit that will be filed in May of this year.

The post Massachusetts Regulators Issue Cease and Desist Orders Against Five Firms Offering ICOs appeared first on NewsBTC.

Bitfinex, the world’s fifth largest crypto exchange, wants to relocate to Switzerland. #NEWS

Two crypto exchanges in Japan are reportedly set to close amid growing regulatory scrutiny from regulators in the wake of a $500 million theft.

Massachusetts Securities ‎Division ordered the 5 ICO issuers to refund investors within 45 days of the order. #NEWS

U.S. Magistrate Lurana Snow has recommended that a preliminary injunction be enforced against four alleged scammers.

On March 28 the Calvin Ayre-owned blockchain and mining firm, Coingeek, announced it would be funding the privacy-centric bitcoin cash (BCH) project ‘Cash Shuffle.’ The project Cash Shuffle is a mixer tool designed to shuffle BCH to increase transaction anonymity.

Also read: China’s Huawei Rumored to Partner with Cold Storage Smartphone Maker

Blockchain Firm Coingeek Funds the Privacy-Centric BCH Mixing Platform Cash Shuffle

Over the past few months, the company Coingeek has been investing in blockchain projects across the bitcoin cash ecosystem. The firm owned by the entrepreneur Calvin Ayre has been funding projects like terabyte block size research, the platform Electron Cash, and a mining operation as well. Further, the company says it is also offering a £5,000,000 bounty for a BCH-based tokenization mechanism. Now, this week the firm has announced the funding of the project Cash Shuffle, a mixer that enables privacy-enhanced transactions on the BCH network.

Back in December of 2017 news.Bitcoin.com reported on a new shuffling platform designed for bitcoin cash. The open source project, Cash Shuffle, is a client-server model with an implemented plugin for the Electron Cash wallet. The project’s website claims that the protocol cannot read information tied to transactions mixed nor can the server steal funds.

“The server, like the individual participants, also has no knowledge of which input corresponds to which output — The server cannot steal money in a proper Cash Shuffle implementation because the transactions are only signed on the client side if they are valid,” explains Cash Shuffle.

Satoshi’s Vision

During the announcement for funding the Cash Shuffle project, Coingeek’s owner Calvin Ayre explained project’s like these continue to solidify that BCH is staying true to Satoshi Nakamoto’s original vision.

“BCH is now making sure it is true to the original vision and is adding other useful elements as the cryptocurrency world evolves,” explains Ayre. “The legacy segwit coin (BTC) should no longer call itself bitcoin as there is no resemblance to the coin launched in 2008.”

I am willing to listen to any sensible arguments as to why this is not the case but can find none to refute the claim that BCH is the real bitcoin.

The Cash Shuffle protocol is still in pre-release form, but bitcoin cash users can experiment with the shuffling plugin. The Cash Shuffle platform’s server-side software is written in Go, and is designed much like the old Coin Shuffle platform, but adds a matching service. BCH users simply choose a server from the list, choose the number of coins they want mixed, and at least five participants join the same server. The platform can be found on the developer’s Github page, and it’s available on the official electroncash.org web portal.

What do you think about Coingeek funding the Cash Shuffle project? Let us know in the comments below.

Images via Shutterstock, Github, and the Cash Shuffle Website. 

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The post Coingeek to Fund the BCH Anonymizer Mixing Platform ‘Cash Shuffle’ appeared first on Bitcoin News.