Day: April 3, 2018

Token Engineering Pt III: Analysis of Bitcoin, design of Ocean protocol Brave New Coin How well does Bitcoin do towards its objective function of maximizing security? The answer: incredibly well! From this simple function, Bitcoin has incentivized people to spend hundreds of millions of dollars to design custom hashing ASICs and building ... and more »

In this Part III of token engineering, Trent McConaghy puts the tools we familiarized ourselves with in the last installment to help analyze existing tokenized ecosystems, and design new ones. This article will do just that with the analysis of Bitcoin, and the design of Ocean Protocol. 

A Russian-Venezuelan high-level intergovernmental meeting taking place in Caracas is discussing a number of issues, including bilateral cooperation in the military area, railroad projects in Venezuela, and food production. According to officials of the Venezuelan Foreign Ministry, the Bolivarian Government of Venezuela is adding the cryptocurrency Petro to the conversation.

The meeting aims at strengthening the alliance between the two countries and the strategic partnerships between key companies, such as the Petromonagas project between Russian energy company Rosneft and Petroleos de Venezuela S.A. (PDVSA). Venezuela considers Petro as an opportunity to consolidate the strategic alliance and the trading relationship between the two countries.

According to Time magazine, there is evidence to suggest that the Venezuelan oil-backed digital currency was helped into existence by Russian officials, bankers, and businessmen. The theory is that Russia wants to use the currency as an experiment in dodging US sanctions placed against the Eastern power.

The oil-backed cryptocurrency had a month of presales before entering the market in March. According to Venezuela’s President Nicolas Maduro, Petro raised $735 million in the first day of its presale. The Bolivarian Government plans to use Petro in four “exclusive economic zones” in the country, in which it will be possible to use the cryptocurrency “for the sale of goods and services”, President Nicolas Maduro said in February.

Despite the launch of Petro as its own national cryptocurrency, there is growing demand for Bitcoin in Venezuela. In March, a new record was set for Bitcoin trading in Venezuela, with a total value of over 1 trillion Bolivares worth of BTC changing hands. The country is plagued by massive inflation, which forces the Venezuelan people to find secure ways of storing value.

Bitfinex, the Hong Kong-based cryptocurrency exchange, has recently refused to list ‘El Petro’, arguing that the digital currency offers “limited utility” and that listing the first ever state-issued digital currency “could be construed as an attempt to circumvent legitimate sanctions against the GOV.”

Venezuela is also preparing to launch another cryptocurrency, backed by gold and other precious metals. Like with Petro, cryptocurrency enthusiasts argue that a centralized government creating a decentralized currency defeats the purpose of the technology entirely. The United States government has warned investors that Petro appears to be an extension of credit to the Venezuelan government.

President Donald Trump issued an order prohibiting U.S. citizens from engaging in transactions using Petro as part of a campaign to pressure to the Venezuelan government. The Treasury Department called it “another attempt to prop up the Maduro regime, while further looting the resources of the Venezuelan people.”

 

The post Russia In Talks With Venezuela to Use ‘El Petro’ appeared first on NewsBTC.

After closing its OTC trading service, Chinese bitcoin startup BitKan is looking to expand its business with $10 million in a Series B round.

Bitmain has released its Ethash ASIC miner with the first units set to ship in mid-July. #NEWS

The digital assets gain the popularity today. Many people have learned how to earn cryptocurrency, but lots of them still experience difficulties about its withdraw or exchange, without knowing what ways are the fastest, the safest and the cheapest. It is necessary to use one of especially existing services in order to realize the cryptocurrency exchange. The simplest in use are the cryptocurrency exchanges, but there are just too many of them. So, how the ordinary crypto enthusiast should choose one of such online services with the smallest losses and risks to exchange the digital assets?

The solution of this problem became the base for the creation of the new, convenient, fast and safe exchange – the GOEX platform. The founders of GOEX have thought how to provide to users the service which they could choose and use due to the comparative advantages on such a competitive market.

Features of the GOEX exchange service for cryptocurrency

One of the key conditions which stimulate the user to choose a certain exchange is a favorable rate of exchange. GOEX provides the service for instant cryptocurrencies exchange providing the best rates on the market. It becomes possible because of the market engine of the platform which analyzes the prices of the cryptocurrencies on the other exchange platforms and finds the best. Thus, rates in GOEX aren’t fixed, they are dynamic. There are two sides of the medal in this case. On the one hand, the lack of the fixed rates allows the GOEX platform to provide the minimum commissions to hold the exchange transactions because the service doesn’t need to undertake the risks of high volatility of cryptocurrencies rates and to add it to the platform’s commissions. Competitive rates and the low commissions are good advantages for the exchange service. However, there is a small problem about the dynamic rates: during the transaction the rate can slightly differ from the initial one.

This problem can be compensated by the high speed of exchange transactions which is guaranteed by the GOEX founders. The cryptocurrencies exchange via GOEX is carried out quickly enough because the speed of transactions depends only on the basic speed of convertible currencies confirmation. An important difference of GOEX from the centralized traditional exchanges is the fact that users don’t need to keep a certain quantity of cryptocurrency in their wallets for the future exchange. Thus, other exchanges support an assets flow, necessary for the exchange transactions implementation. This makes the digital assets of users vulnerable. There is a risk of the possible loss of assets which can happen because of exchanges vulnerability to the hacker’s attacks. The user just sends a certain quantity of cryptocurrency via GOEX which has to be exchanged and then receives the equivalent sum in the acquired cryptocurrency to the wallet. The platform supports the most popular cryptocurrencies such as Bitcoin, Ether, Litecoin and Bitcoin Cash. The list will constantly extend.

The current state of the GOEX exchange service

The exchange works on the platform at the official GOEX website. Despite the short period of its functioning, the GOEX exchange service becomes more and more popular. Nowadays, from 50 to 170 exchange transactions per day are carried out within the platform and 204 transactions are the maximum amount of transactions carried out per one day.

The users of the GOEX cryptocurrency exchange platform choose it for many reasons: the key advantages, such as speed of transactions, low commission, the safety of operations and the convenience of service and 24/7 support. The GOEX has got the simple and intuitively clear interface which is used on the website through which all the exchange processes are carried out. So users of the platform usually have no questions about how to use a service.

Firstly, the user sees the window for exchange transactions implementation right on the homepage of the website where cryptocurrencies and wallets requisites for sending and receiving cryptocurrency are entered. After that, the GOEX platform will generate the address of a wallet for a deposit where the exchanged cryptocurrency sends. In several moments the user will get the cryptocurrency which he requested in an exchange window. In case of any questions or problems, GOEX support is always there for their users and anyone can ask for the help 24/7.  The constant feedback, certainly, is a pleasant bonus which gives confidence that any issue can be resolved quickly and without excess bureaucracy.

Every user decides whether to choose the GOEX platform as a service for cryptocurrency exchange or not. However, taking into account many advantages of GOEX, it will obviously find the audience and will occupy the niche in the market. The platform shows excellent indicators concerning the number of the carried-out transactions per day right now.

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.

DALLAS, TX – Randi Zuckerberg, the former Director of Market Development of Facebook and sister of Mark Zuckerberg, has just been announced as the latest headline speaker to talk at the Future Tech Expo. She will join more than 100 other respected players in the blockchain, artificial intelligence, and other future tech industries – to give attendees the inside scoop on where the Fourth Industrial Revolution is headed and reveal how “smart money” is getting behind emerging technology.

“Almost everyone knows about Mark Zuckerberg”, said Mr. Jacobs, who is the Future Tech Expo’s organizer and host. “But what most people don’t realize – not unless they’re pretty well plugged into the tech industry – is that Mark’s sister Randi also played an important role in transforming Facebook from a college-dorm startup into one of the world’s most valuable companies.”

“She’s EXTREMELY well connected – and knows things about the tech revolution that, frankly, just isn’t public knowledge right now. Just one or two insights from Randi could give us a huge edge over other investors. So I, for one, will be taking very careful note of what she reveals to us.”

The Future Tech Expo 2018 takes place on September 14-16, in Dallas, TX.

It’s bringing together more than 100 developers, entrepreneurs, venture capitalists, and other respected industry players – from the fields of blockchain, artificial intelligence, quantum computing, virtual and augmented reality, cybersecurity, and other emerging technologies – so they can give you the inside scoop on how “smart money” is getting behind the Fourth Industrial Revolution.

The first 200 attendees who register before midnight on Good Friday (March 30th) will receive a complimentary Crypto Easter bonus box, which contains an assortment of cryptocurrency and future tech-related gifts, including a bag of chocolate Bitcoin in time for Easter.

Inside the Crypto Easter bonus box is also a sealed envelope that contains the first clue for a virtual cryptocurrency Easter egg hunt, which is taking place on Easter Sunday. (Prizes include an Amazon Echo Dot, a Nano S hard wallet, a VIP upgrade to the conference, and $500 of cryptocurrency.)

Ready to purchase a ticket and secure a Crypto Easter bonus box? Tickets are available here:

https://www.thefuturetechexpo.com/register/

Want to find out more about this conference? Join the free notification list over here:

https://www.thefuturetechexpo.com/notification-list/

Press contact:

Richard Jacobs

[email protected]

(888) 448-4590

About the Future Tech Expo:

The “blockchain revolution” is no longer just about blockchain anymore. In 2018-19 and beyond, blockchain tech is converging with quantum computing, artificial intelligence, cybersecurity, and other emerging technologies – and driving what economists call the “Fourth Industrial Revolution”.

The Future Tech Expo is the only conference that gives attendees the full picture on how “smart money” is betting on the fourth industrial revolution. That’s because it is bringing together more than 100 of the most respected developers, entrepreneurs, venture capitalists, and “smart money” investors from all the most important emerging technology fields – not just blockchain tech.

This three-day conference will be held at the Dallas Convention Center, close to Dallas/Fort Worth International Airport, in September. We are expecting more than 5,000 attendees, 100 headline speakers, and 150 exhibitors – with talks from founders, developers, and early-stage investors in blockchain, quantum computing, artificial intelligence, virtual and augmented reality, cybersecurity, and other emerging technologies that are set to disrupt almost every sector of the global economy.

More information is available at: https://www.thefuturetechexpo.com/register/

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.

In regards to the current climate of Cryptocurrencies and Blockchain, Regulation, volatility and scams have all seemed to suppress the fact that Blockchain technology itself is an amazing technological advancement in todays age.

UK based Smart Startup Company, founded by social and technology entrepreneur Simon Krystman promises to make it simple for ordinary businesses to benefit from the transparency and security provided by the blockchain, by launching SMRT (Smart Startup Token) contracts. The aim is to create a frictionless trade platform for startups and SMEs.

SMRT describes itself as a “vending machine for legal documents” that are then secured in the blockchain. The need to create contracts can be extremely onerous for start-ups, in terms of both money and time. Blockchain offers the opportunity to make enforcement cheaper and easier. However, few small businesses have the resources or understanding of blockchain technology to utilise it.  The SMRT templates will cover the contractual areas that startups and small businesses encounter, such as shareholder and intellectual property agreements. They will also cover finance and trading agreements in the way the Ethereum blockchain was originally designed for.

Simon Krystman explained: “Established trading marketplaces could benefit enormously from our smart contracts, as buyers and sellers will have automatically enforced agreements to transfer money for goods and services. They also open the way for many new decentralised marketplaces, where the smart contracts are the enforcements of trade. Small businesses would be able to buy bundles of our smart contract templates to facilitate their sell/buy trades.”

The pre-ICO for investors is now open and ends on the 21st April 2018. Pre-ICO investors will receive a 50% Bonus for any SMRT purchases.

Team

The SMRT team are highly skilled and experienced in running successful businesses. They have a wide variety of talent, connections and expertise in blockchain, AI, entrepreneurship, funding, intellectual property, government and regulation, giving SMRT a very solid base. Some team members are working in an advisory capacity, while holding down high-profile jobs in industry, government and academia. Others are working full time to build the infrastructure of a world leading company. Upon completion of the ICO, the team will be expanding to bring onboard more in-house software developers, lawyers and finance specialists, building an internal infrastructure and one to manage partners.

Syed Kamall, Member of the European Parliament is the Regulatory Advisor to the SMRT Project, advised; “The technology offers some very exciting opportunities but as legislators internationally, we must also make sure that consumers have trust in it. Blockchain and smart contracts will be a game changer for startups.”

Simon Krystman concluded; “The core of our company is the marriage of legal agreements with blockchain software code, supported by data science and AI. Our key partners represent this core and employ leading practitioners in their respective domains.”

50% Bonus for Pre-ICO contributors

Visit https://smartstartuptoken.tech to find out more and join the Pre-ICO now.

Risk Warning

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. Your capital is at risk. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.

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.

The Japanese police have stated earlier today that they have arrested a Chinese man in connection with a fraudulent account at one of the nation’s cryptocurrency exchanges. According to the authorities, the man later sold the account to a criminal group for profit.

Chinese Man Bought Stolen Details From One Group and Sold Them to Another

The arrest has been made against an executive living in Tokyo named Lin Xiaolin. The 30-year-old was detained on March 15. According to reports in the South China Morning Post, Lin Xiaolin had opened an account at a Tokyo-based digital currency exchange last July. He’d accessed the exchange’s server from China and used details of an unnamed Vietnamese person to register the account.

These details are believed to have been obtained through Facebook messages. The identity of the Vietnamese individual is thought to have been purchased for around 30,000 yen – the equivalent of about $315. The details included the name, date of birth, address, and other information typically required to setup accounts at online services such as cryptocurrency exchanges. This data was used to open the fraudulent account at the unnamed Tokyo-based exchange between July 6 and 9. The accused denies all the allegations made against him.

According to the Japanese authorities, after creating the account, Lin immediately sold it to a criminal group. The sum received is reported to have been around 100,000 yen, or about $945. The police believe that the group have been using fraudulent accounts at cryptocurrency exchanges to convert funds taken from third parties to other currencies. Lin Xiaolin is thought to have opened at least six other cryptocurrency exchange accounts. The authorities allege that no less than three of these have been used in illicit transactions.

This February, the Tokyo police have detained four other Vietnamese individuals in connection with Lin. This group are thought to have been providing the accused with the information needed to set up the fraudulent accounts. However, at the time the decision was made to not indict the quartet.

The news of Lin’s arrest comes at a time when the Japanese Financial Services Agency is trying to clean up the nation’s cryptocurrency exchange scene. According to the watchdog, many of the exchanges in Japan lack adequate security measures. This was highlighted recently by the hacking of major Tokyo exchange, CoinCheck. During the hacking, cybercriminals were able to make off with over half a billion dollars. This represents the largest hack of a crypto exchange to date. The hack was handled admirably by the exchange. They quickly refunded all of the appropriated funds. Earlier today, we reported that Tokyo-based trading brokerage Monex have expressed interest in buying CoinCheck.

 

The post Tokyo: Man Arrested for Selling Crypto Exchange Account to Criminal Group appeared first on NewsBTC.

It’s that time of year, again, when cities around the world unite in celebration of cryptocurrency. Part convention, part holiday, CoinFest is a decentralized and open source event in which anybody can participate. Organizers need only abide its core protocol, which is that events be free to attend and held at venues that accept cryptocurrency (at least during CoinFest).

The CoinFest organization itself cannot wield fiat, nor can any signatories to its multi-signature wallet in their roles as CoinFest organizers. Donations to CoinFest Global are managed in this way, but all CoinFest organizers are encouraged to seek sponsors for their local events independently. CoinFest is open source and charges no licensing fees, only asking that all organizers operate as volunteers.

While the mainstream media has been highlighting recent losses, most of CoinFest 2018’s funding came by saving from last year, when Bitcoin was worth less than $1,200. This 500% increase was bolstered by an early and generous donation from TurnKey, a 2018 Global Sponsor that provides open source software. This includes a Bitcoin wallet that can be written to CD-ROMs and USB sticks for cold storage of funds.

CoinFest also gained a substantial windfall from the Bitcoin Cash fork, which required a revamp of the Transparency System. It is now integrated with Ethereum, as well, thanks to a recent sponsorship from Quantstamp. Their distributed protocol audits smart contracts to find security vulnerabilities before they’re exploited, which is increasingly important as more and more money is held by blockchain-based entities.

As usual, the International Hangout—wherein projectors and webcams are set up at multiple events for distributed presentations—will be a major component, with 6 hours of discussion in 3 cities. There will also be livestreams out of the majority of participating events for those unable to attend in person, and a radio broadcast in Texas by the renowned Crypto Show which all CoinFest organizers are free to join.

Unlike last year, however, the Lightning Network is now up and running. After a long dark period of exorbitant transaction fees, this has brought new life to the merchant adoption movement (a founding principle of CoinFest). Presentations explaining what it is and how it works will be given around the world, and in Vancouver they will be installing it at merchants around downtown using the Bitcoin Co-op’s CoinOS app. Others are encouraged to do the same!

The activities themselves in Vancouver will include gatherings at Lightning-enabled cafes and bars, in addition to a panel discussion on merchant adoption. There will also be larger convention-style gatherings at the offices of two prominent local cryptocurrency companies, which will have free Bitcoin beer from the Lightning-enabled brewery and a Bitcoin food truck waiting outside.

The biggest event will again be CoinFest UK in Manchester, however, with over 700 RSVPs. Founder Adam Rizvi has taken an increasingly prominent role in the CoinFest organization since surpassing CoinFest Vancouver in size, and has been an inspiration to new CoinFest organizers around the world.

Their event will be held at the Manchester Conference Centre for three days. It will include presentations, panels, and live crypto music in a tightly-packed schedule. There will also be several workshops and a plethora of exhibition booths in separate areas, with highlights include including an art gallery, raffle, and ticket “hodler” machine. Don’t forget the Bitcoin (themed) forks!

The Netherlands will also be a hotspot of acitivty, again, as it has been for cryptocurrency in general. Bitcoin Wednesday is leading the way in Amsterdam with over 200 RSVPs for what may be their biggest event ever. Their usual reception dinner is now free to attend, and there will be optional ticketed activities—such as a scenic Crypto Canal Cruise—for those with a few bits to spare.

Also returning this year is Arnhem Bitcoinstad, also known as the Bitcoin City. There lies a little Dutch district where all the merchants are experimenting with Bitcoin and the traditions of CoinFest are deep-rooted. They’ll be having a Meetup at a restaurant to discuss the importance of Bitcoin adoption, as well as tune into the International Hangout with Vancouver and Manchester.

CoinFest Irvine in California is expecting at least 100 attendees this year under the tutelage of long-time volunteer Tim Tayshun. His company Blockchain BTM is getting together with sponsor BlockSafe to provide free food and entertainment, presentations, a Bitcoin ATM demonstration, and of course the Wheel of Bitcoin. The highlight, though, may be the “speed dating” event for matching investors, founders and developers.

Down south near Valdivia, Chile, construction is still ongoing on Fort Galt, a community designed for entrepreneurs to work without restriction. It will host a Cryptacademy to educate locals about cryptocurrency, and as a preliminary effort, they are holding CoinFest at a hotel in the city. It will include a panel, networking afterparty, and competition (with crypto prize) to put up Bitcoin stickers around town and take the best selfie.

CoinFest has always been particularly popular in Africa, where the grant funding goes a long way. The most high-profile event there in 2018 will be hosted by CoinFest Nigeria in Abuja, where multiple speakers are flying in to educate the locals about the opportunities presented by blockchain technology.

Botswana and Sierra Leone will be active again, as well. CoinFest Botswana—hosted at Satoshi Centre—will consist of a start-up competition with $500 in Bitcoin going to the best idea. CoinFest Sierra Leone will be held at Sensi, a Tech Hub in the capital where they will have multiple presentations. Locals there just experienced the world’s first blockchain-based election and are increasingly curious about how it works.

CoinFest brings crypto cheer to people of all backgrounds around the world, and anyone is welcome to participate. If you’re too busy this year, we hope you’ll remember to cross it off on your calendar next time!

The post Happy CoinFest 2018 from NewsBTC appeared first on NewsBTC.

This article originally appeared on Bitcoin Magazine.

This article originally appeared on Bitcoin Magazine.

After weeks of speculation, Bitmain has announced an ASIC for ethereum mining, spurring the developer community into action to try and block its use.

Recap of the biggest single exchange hack that ever happened in Japan, following in the path of the former record holder, Mt. Gox #RECAP