Day: June 14, 2018

The Ethereum ecosystem has seen a massive influx of new decentralized and distributed applications. As such, the DApp ecosystem has grown significantly. Although it is difficult to put together a top 10 list which most people will agree with, below are 10 live and accessible DApps which caught our attention.

10.  Decentralized Ether Mixer

While there will always be a debate as to whether or not mixers add value to cryptocurrency, the decentralized Ethereum Mixer can be valuable. It is a mixer smart contract designed to bring slightly more privacy to existing Ethereum wallets, yet without any central party involved. Until Ethereum gets its own set of privacy tools, this DApp may certainly appeal to some users.

9. CryptoCountries

Building a decentralized and distributed version of Monopoly will not be all that easy. CryptoCountries is an interactive game which lets anyone buy and own countries in the form of smart contracts. It is a bit of a silly concept to most people, but it shows how smart contract technology can be used in a completely different manner.

8. Axie Infinity

If there is one thing CryptoKitties has shown the world, it is that blockchain-based collectibles seem to work just fine when enough people show an interest in them. Axie Infinity lets users collect, raise and battle fantasy creatures. While it remains to be seen if there is a market for another blockchain collectibles project, the opportunity to experiment exists.

7. Decentraland

Although Decentraland has been around for some time now, the venture is a virtual world powered by the Ethereum blockchain. It makes it possible to create, experience, and monetize all kinds of content, which is rather intriguing.

6. CryptoEmojis

Hardly anyone can imagine a world in which emojis do not exist. Whether one loves them or hates them, CryptoEmojis is a game which lets users own and trade their favorite emojis on the Ethereum blockchain. It’s a niche market at best, yet another remarkable idea.

5. Ribbit

Decentralizing social media is an interesting concept, albeit one that will be difficult to pull off. Indeed, social media may not even be relevant ten years from now. Assuming the opposite is the case, Ribbit will provide a decentralized social media web application.

4. Documentary

Although it may sound like something else entirely, Documentary is a way of publishing documents on the Ethereum blockchain. More importantly, it is free to use and only charges transaction fees for using the service, which is only to be expected.

3. Ether Dungeon: Age of Myth

In this era of video games, it is good to see some Ethereum DApps focus on this business model as well. Ether Dungeon lets players collect heroes, upgrade equipment, and explore dungeons with a strong focus on multiplayer support and strategy. With a bit more polish, it has the potential to become a hidden gem.

2. Numerai

A decentralized hedge fund sounds like a problem waiting to happen, yet Numerai may highlight the potential of this approach. Although it is live as of right now, it has not undergone many updates over the past year. The concept certainly has a lot of merit, though.

1. IDEX

Decentralized and distributed exchanges are definitely the future of cryptocurrencies in multiple ways. IDEX is a decentralized exchange mainly focused on ERC20 tokens and has gained significant traction since its launch in February of 2017.

A mining equipment company CEO has responded to issues raised by mining malware hacks infiltrating Amazon Fire software and Android devices saying that it is not representative of the industry. Talking to NewsBTC, he also said that more crypto mining companies are likely to get listed on the London Stock Exchange (LSE).

‘It Gives Crypto a Bad Name’

NewsBTC reported yesterday that an app called ADM.Miner had been found on Android platforms, including the Amazon Fire TV, which used the hardware to mine cryptocurrencies. The app, which exploited systems that had the developer options enabled, would use up the majority of the processing power, causing the software to crash.

Josh Riddlett, CEO of EasyCryptoHunter, and avid altcoin miner said:

“It gives the cryptocurrency community a bad name. Inevitably, it is not representative of the industry. It has been done for ages and it will continue to be done.”

Argo Blockchain has announced plans to raise £20 million ($26.8 million) to become the first crypto miner on the LSE. The money will be raised through an IPO and the company is set to be valued at around £40 million ($53.5 million). On this news, Riddlett said:

“It will be the first of many. It is a natural route these things will go down. Bigger companies will get more and more interested.”

Riddlett’s company, which sells mining equipment, is focused on mining altcoins. He said that, in general, altcoin mining is more profitable than Bitcoin mining because you’re competing against individuals rather than large-scale mining farms. Bitcoin is not ASIC resistant which means it’s easier for mining farms to mine it but it’s mining rewards decrease over time. He added:

“There’s not really a very strong correlation between Bitcoin mining and price increase. Bitcoin is the hardest it has ever been but it’s not the most expensive its ever been. With altcoin mining, you never have the huge difficulty spikes that you have with Bitcoin.”

Obelisk Taking on Mining Farms

Crypto miners Obelisk have shown their intentions of taking on Bitcoin mining farms by providing crypto-communities with mining equipment. The equipment will be specially designed to mine coins that are ASIC resistant by collaborating with the cryptocurrency’s developers. Their main competitors Bitmain are also considering an IPO as CEO Jihan Wu said that he is open to a listing in Hong Kong.

Mobile crypto mining has taken a hit as Apple has issued new controls to prohibit crypto mining on its software. In order to protect its software over mining malware, similar to what affected the Android platforms, it has added new rules to its developer guidelines. The rules now state that apps should not generate excessive heat, rapidly drain the battery or run background crypto mining processes.

Crypto mining is on the rise in Venezuela due to cheap electricity as citizens look for a consistent income among hyperinflation. Some rigs can generate $1,000 a month which is a substantial amount of money and is paid in a foreign currency, such as the US dollar, which means it is subject to less inflation.

Image from Shutterstock

The post Crypto Mining Company Responds to Android Malware Outbreaks appeared first on NewsBTC.

Star Trek actor William Shatner is now representing Solar Alliance in its move to build a solar-powered bitcoin mining facility in Illinois.

Midas Technologies AG is proud to add to two new members to their project who will provide fresh perspectives on the up and coming Midas project. The Melonport co-founders Reto Trinkler and Mona El Isa will join the companies advisory board to aid in the development of the retail investing app Midas. The two founders bring extensive experience in international finance and software development. They have both have been selected as members of Forbes “30 Under 30”.

Disclosure: This is a Sponsored Article

CEO of Midas Technologies AG, Adrian Gallo, recently voiced the companies happiness in being able to welcome two of the most professional and experienced individuals in crypto to their board. Adrian believes that Reto’s assistance in development questions will ensure the optimal integration of Midas with the Melon protocol. Midas believe that Mona’s extensive expertise in financial industries and her wide network among industry leaders as well as regulators will help them gain strength to support an outstanding product.

A little bit about Melonport

Melonport AG is co-owned by Reto Trinkler and Mona El Isa, founded in July of 2016. The duo operates from Zug in Switzerland where they managed to raise CHF 2.5 million in under 10 minutes through their MLN tokens. Melonport AG is responsible for the development and releasement of Melon, an asset management computer.

Melon is an autonomous system which has been designed specifically for managing cryptocurrency assets. The frontend and backend are hosted and executed on a decentralized platform. The front end is built from IPFS whereas the backend operates off a set of Ethereum contracts.

More on the Midas Project

Midas is an application powered by blockchain technology operating from a decentralized platform that allows users to access the Melon Protocol. The application creates a friendly environment where users can interact with each others portfolio and buy and sell crypto assets. The primary function called the Midas Touch will work like a “like” button to keep track of assets in a simple manner.

The application enables users to team up alongside each other or against one another. Apart from cryptocurrencies and token assets the platform provides alternative retail assets like crypto collectibles and prediction markets.

All investments are transparent and give users full control over their money and where it goes. Users will be allowed to restructure their portfolio with a few simple clicks. No paperwork or middleman will be needed thanks to blockchain technology ensuring users get a fair and reliable experience.

Reto Trinkler from Midas Asset Management explained the focus touch in a recent interview. Reto believes that ‘Ease of use’ is one of the most overlooked aspects in the design of blockchain applications and is the primary focus of Midas Touch.

Midas Beta and Pre-Sale

Midas Technologies AG  is an ongoing project which needs further development however the company has already launched a beta signup in addition to an airdrop event. Before the beta is launched, the Midas team will include registered testers during the development to guarantee the app runs as planned and suits the needs of users.

Website: https://midas.social

On 12 June, the Michigan State Legislature received three bills aimed at providing legal definitions of cryptocurrency and distributed ledgers, according to ETH News.

Since then, a fourth bill has been introduced adding “cryptocurrency” and “distributed ledger technology” to the list of “financial transaction devices”, of which theft or fraudulent possession are felonies.

Michigan’s attempt to introduce the new legation is a landmark development in US states’ approaches to mainstreaming aspects of blockchain into the legal system. If the bills pass, they will give further credibility to crypto space by defining “distributed ledgers” and “cryptocurrency” in its criminal statutes. Crimes committed using these new technologies would be punished just as they would be if committed with paper or fiat currency.

Other states have added similar definitions to their statutes, but these have been simply for clarification purposes to rule that distributed ledgers can be legally binding contracts.

If Michigan’s bills become legislation, the penal code would be amended relating to fraud and forgery of documents, granting distributed ledgers the same status as physical documents, resulting in a maximum 14-year prison sentence for those convicted of fraud under the law.

A result of other bills included within the four proposed by State Legislature grants cryptocurrency the same status as physical money. One of the bills explain the new criteria:

“‘Cryptocurrency’ means digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, and that operates independently of a central bank… ‘Money or personal property’ includes cryptocurrency.”

While the US Federal Government is considering what to do about blockchain, so far it has chosen to leave this to individual states. However, it does have the option to exercise its right to impose federal blockchain laws. That said, it has not yet delivered any draft legislation on the subject, writes the Enterprise Times.

Nebraska, Florida, Arizona, Nevada, and Vermont, along with Maine, Hawaii, Illinois, and North Dakota are some of the many US states notably either in the process of presenting bills, enacting legislation or actively utilizing blockchain in state legislation.

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Star Trek’s William Shatner is venturing into crypto as the spokesperson for a solar-powered crypto mining facility owned by Solar Energy Alliance

ItBit says it has received approval in New York state to expand its trading and custody services to include four more cryptocurrencies.

The connection between fraudulent behavior and cryptocurrencies has become a lot more apparent over the years. Especially when it comes to fraud and Ponzi schemes, the situation has gotten out of hand in recent years. Even in 2018, one of the bigger pyramid schemes was still active.

Bitcoin’s Ponzi Problem

Any investment opportunity in the world of cryptocurrencies needs to be scrutinized first and foremost. It is evident there are a fair few genuine opportunities on the market today, but any project promising major returns in a short span of time should be ignored. This also applies to programs offering fixed returns on one’s investment, as those rates are simply unsustainable.

In the case of Bitcoin, there have been numerous Ponzi schemes that have collapsed over the years. Some of them still exist to this day, such as OneCoin. Even that major company will eventually crumble, especially because of all the investigations taking place and the growing number of users who have been defrauded.

In the past few years, there have been several major scams to take note of. The first was Bitcoin Savings and Trust. While it sounded like a prominent bank had gotten involved in cryptocurrency, that was not the case in the slightest. In fact, it was a very successful venture in the end, but not for the right reasons. CEO Trendon Shavers raised 764,000 BTC in 2011 by offering investors interest rates of 7% per week.

As one would expect, none of the money collected was ever invested. While it was never officially proven, it seems Shavers spent the money on himself by buying a new car, casino trips, etc. When the Bitcoin Savings and Trust venture was shut down in 2012, nearly half of the investors had lost all of their money. Shavers was eventually sentenced to 1.5 years in jail in 2016. It remains unclear if any investors have recovered their money.

One of the more recent notorious Ponzi schemes went by the name of BitConnect. Although it gained a lot of traction, anyone with a functioning brain knew it was only a matter of time until things collapsed. With business picking up in 2016 and 2017, some people actually made money with BitConnect, although a lot of others were defrauded in the process.

With daily returns of 1%, it was a scheme which would eventually run out of money. That shutdown occurred in early 2018, at which point the value of BCC plummeted, the lending platform was shut down, and the team disappeared with the northern sun. Multiple lawsuits against BitConnect are still ongoing, although it remains to be seen whether or not anything will come of them in the coming months.

William Shatner’s latest role is being the spokesman for a Vancouver based company that is about to open the world’s first solar powered Bitcoin mining operation.

Shatner Fronts First Solar Powered Crypto Mining Pool

Shatner, who is idolized by Trekkies the world over for his portrayal of James T. Kirk, Captain of the starship Enterprise, may not be quite as current on burgeoning technology today as he was back in the sixties when he was beaming people up with a tractor beam, but he knows a good idea when he hears one.

The 87-year-old actor initially came into contact with the Canadian company Solar Alliance when he contracted them to put solar panels on his California home. The company which specializes in alternative energy solutions has since announced plans to build a solar-powered Bitcoin mining operation in an abandoned Illinois factory and have asked Shatner to be their spokesman.

Bitcoin mining uses computer networks to solve complex problems for which the miners are awarded Bitcoin as payment. One of the major criticisms of Bitcoin recently is the massive amount of electricity an operation uses in order to mine each coin, which also hampers miners from operating in areas where electricity costs are high. This is where Solar Alliance CEO Jason Bak found inspiration.

The project which will be based around a huge solar array to be built on the abandoned factory’s 14-acre footprint. The old factory itself will be leased out as a mining pool with some parts reserved as a teaching center for solar panel installation. The company has been welcomed by the town of Murphysboro mayor, Will Stephens, who was quoted in the Chicago Tribune as saying “We, like a lot of Middle America, have seen job losses because of a change in the worldwide economy.”

Bitcoin Project Brings Jobs to Middle America

Whether using solar energy proves to be cost effective enough for Bitcoin Mining companies or not Illinois’ utility companies are compelled by state policy to buy renewable energy which makes the project economically viable with or without the mining aspect. Mayor Stephens is undeterred by Bitcoin’s many outspoken critics as he told the Tribune;

“From my perspective, we’re going to have someone who will occupy a previously derelict property, and whatever development comes out of it will just make it more marketable if the project is not successful,”

Shatner plans on visiting the project as he has homes in both Chicago and Kentucky. The actor who doesn’t pretend to understand how cryptocurrency works referred to the concept as both “bizarre” and “esoteric” but delivered a very Kirkian explanation of Bitcoin when he said,

“You have to blank your mind and say, ‘What is blockchain, again? How does mining operate, again?’ The concepts are really strange, and yet when you begin to grasp it, it makes sense.”

Image from Shutterstock

The post William Shatner Captains First Solar Powered Bitcoin Mining Operation appeared first on NewsBTC.

ImmVRse, blockchain VR platform looks to solve scaling issues that come with using higher definition media for VR content.

Disclosure: This is a Sponsored Article

Why Higher Resolution At Lower Latency Is Necessary For VR

VR headsets require more pixels for the same level of image quality compared to a regular monitor due to the larger screen area. A higher resolution, known as Ultra High Definition (UHD) is available but currently is costly and requires significant hardware to run at suitable speeds.

The VR platform recognizes the need to solve this issue before moving on, and will create a hybrid architecture to distribute the load, effortlessly processing videos on demand at UHD and low latency.

VR currently gives a sizeable portion of user’s motion sickness, even though they are physically remaining in the same location. Increasing definition and lowering response times has been shown to help reduce motion sickness symptoms, according to a pilot research project carried out in collaboration with Imperial School of Medicine last year.

ImmVRse Announces New Partnership and Advisor

ImmVRse’s first step to creating the suitable architecture for the platform is a partnership with IAGON, a decentralized startup focusing on cloud computing and artificial intelligence (AI). The cloud computing company will provide a platform capable of satisfying the storage requirements for storing the massive files associated with 4k and higher resolution videos.

Complementing this partnership is ImmVRse’s newest advisory, Ani Fox Bochenkov. Bochenkov is the director of Oracle (EMEA and APAC) and will advise the VR platform on cloud computing, scalability, and improving the product development life-cycle.

The Director of Oracle (EMEA and APAC), Ani Fox Bochenkov Stated:

“ImmVRse represents a prime example of how modern technologies can be utilized within a digital cloud infrastructure. I look forward to working closely with the team to make this a market leading content platform for the future”

ImmVRse’s presale is scheduled to launch in the following weeks, and has garnered increasing interest as the launch date gets closer. ImmVR’se recommends anyone interested in participating in the presale or public sale should complete whitelist registration to save time. That way users can immediately purchase tokens as soon as it’s possible.

Implications of UHD VR In A Growing Multi-Billion Dollar Industry

Easily accessible UHD VR content will revolutionize how media is consumed for entertainment. Immersive VR content also has implications in numerous industries as well, including tourism, health, education, advertising, and even more advanced applications like remote control of drones, robots, and other machinery.

The VR market is expected to grow rapidly in the next couple years, growing from a market of $5.4 billion in 2017 to nearly $61 billion by the end of 2023.

To learn more about the VR platform, visit their website. The website also has information on the team members, if you want to know more about the people behind the project. A whitepaper is also available for more in-depth information. For interested potential participants for the token sale, users can sign up to get registered for the whitelist.

ImmVRse has a Telegram channel where team members and the community can talk together to solve any questions that may arise. ImmVRse also has a Facebook, where any social media updates are posted.

How Binance built an empire in under a year – an exclusive interview with CEO ‘CZ’

Li Xiaolai, a noted Chinese bitcoin investor, has said he may take legal action against another Chinese entrepreneur over claims about a bitcoin fund.