Day: July 10, 2018

Leo Burnett put it perfectly when he stated, “Make it simple. Make it memorable. Make it inviting to look at. Make it fun to read.” An ingenious product by itself is not enough; ask Tesla. Today, with an over-saturation of the market, products need to be channeled to the target audiences, while skimming off the overhead costs as much as possible. To rigorously enforce these market maxims, executives need more than intuition. This is where Bigbom comes in.

Bigbom Eco works as a decentralized advertising ecosystem for online advertising. It looks to encompass all aspects – advertisers, advertising channels, platforms, and content publishers. Bigbom Eco is based on smart contracts using the Ethereum blockchain. This facilitates easy data linking in a transparent, accurate, automated and immutable manner. The marketplace provides, rates, and evaluates all service suppliers. This simplifies the process of the Advertiser connecting with the supplier they deem most suitable. Bigbom’s iAds utilize a self-learning algorithm which removes intermediaries from the decision-making process. This advertising system facilitates the automatic optimization of advertisements, helping Advertisers increase their return on investment.

All companies focus on maximizing their market impact while minimizing the cost of marketing. To that end, Bigbom gives them the tools to target the right audience, through the right channel, at the right time.

Overview of the Platform

Bigbom Eco claims to be the first digital advertising ecosystem built as a decentralized application platform (DApp). The intention is to be the arterial link between ad platforms/publishers and advertisers anywhere in the world.

As mentioned earlier, the Ethereum blockchain is used for these smart contracts. Bigbom Eco also uses Tomochain – an innovative solution to address the scalability problem with the Ethereum blockchain.

With advisory and technical support from Tomochain, Bigbom Eco has been comparing the systems’ transaction speeds, network fees, and stability.

Bigbom ecosystem and how it interconnects

Key Features

The Ethereum network usually confirms a transaction in 20 seconds. Tomochain reduces this by a factor of 10, making it comparable with credit card transactions, at much lower fees. However, with large transactions, whereas traditional payments can take up to 3 days to clear, the Ethereum/Tomochain transaction times are 20,000 times faster.

The system derives its reliability from utilizing a decentralized network. Ethereum and Tomochain are currently incorporating more robust consensus protocols, such as Proof of Authority and Proof of Stake, which will enhance scalability and fault tolerance.

Using blockchain means enhanced security. This is mainly because any record in the blockchain is immutable. Furthermore, users own their private keys, which are the only method of accessing their accounts.

The marketplace on this platform looks to weave a thread between all parties. It looks to engage with advertisers, either directly or via a bidding process. This is coupled with a recommendation engine that will suggest customer interactions.

Bigbom’s iAds allow its end users to connect with multiple advertising platforms which will assist in making informed decisions so that they can reach their goal at minimal cost.

How It All Works

The platform’s key focus is on ensuring easy engagement while being cost-effective for advertisers. The smart contracts are easy to establish with a few clicks. There are no hidden or extra fees, apart from a small transaction fee for the execution of the smart contract.

The marketplace makes it easy to choose an advertising partner through a system of ratings and reviews on smart contracts.

Bigbom is smart enough to push successful advertisements.

The Bigbom Marketplace is primarily based on smart contracts. When an advertiser needs to advertise services from a service provider, both parties will agree on the pricing and key performance indicators at the time of signing the smart contract.

Upon the termination of a contract, advertisers are encouraged to rate and review the service providers. They are then rewarded in the form of BBO tokens from the bonus fund. To ensure traceability, only those who use a service provider which can be tracked through smart contracts can give them a rating.

Bigbom Eco allows users to pay with traditional payment methods. To avoid impacting the overall value of the token, these new tokens will be sold at a rate 5% above the market price.

About the Team

Vung Nguyen is the founder and CEO of Bigbom. He has 11 years of technology startup experience and 8 years of experience in digital advertising. Mr. Nguyen and his partners developed an advertising solution that has displayed over 3 billion impressions per month. In 2015, he graduated from the Silicon Valley Founder Institute, a multinational startup training program.

Anh Huynh is the co-founder and CMO. She graduated from the RMIT Faculty of Marketing and has plied her trade at companies such as Nguyen Kim, Vietnamworks, and Adtop. She is currently in charge of marketing as well as building and expanding Bigbom’s community of potential stakeholders around the world.

Hung Nguyen is the lead engineer. He has worked for nearly a decade in the field of technology and systems development and has successfully built advertising systems that serve up to a billion impressions per month.

Cau Trang is the UI/UX engineer. He has a huge portfolio of international projects for both web and mobile platforms.

David Carnell is a financial advisor at ICO & Funds Management at Blockchain Intelligence Group LLC Singapore, which employs industry experts offering all services required to launch a successful ICO including marketing, legal, technical, and financial support.

Token Performance Details

Introduced into the market early last month, Bigbom (BBO) tokens were initially valued at US$0.016 per token.

Token lifetime performance chart (courtesy of CoinMarketCap)

While the currency has followed the general trend of losses, due to the newness of its associated product, it is still difficult to assess the true potential of this token.

As of July 5, the price of a single BBO token stands at $0.005.

Final Thoughts

There is great potential in online advertising and in providing a crypto solution which links ad platforms/publishers and advertisers anywhere in the world.

Owing to its multifaceted nature, it would not be surprising to see this service continue to do well this year.

If you are interested in investing in Bigbon, BBO trading pairs are currently available on DDEX, IDEX, and OTCBTC.

In May 2017, Bulgarian law enforcement seized BTC 213,519 during a crackdown on an organized crime ring that was circumventing taxes. These Bitcoins are worth USD 1.4 billion as of this writing on 10 July 2018. If the Bulgarian government is still holding onto these Bitcoins then it has the second largest stash of Bitcoins in the world, only surpassed by Bitcoin’s founder Satoshi Nakamoto.

However, the Bulgarian government has refused to discuss the status of the seized Bitcoins, so it can’t be known for sure whether it is still holding them. Simultaneously, in any democratic country, large flows of government money must be reported, so if these Bitcoins were sold it would probably be officially documented and known by the public.

By far, the largest Bitcoin stash in the world is held by the creator of Bitcoin, Satoshi Nakamoto. Nakamoto mined BTC 1.1 million during the time after the genesis block when practically no one else was mining Bitcoin. During that era, it was possible to accrue large amounts of Bitcoin with just CPU mining, as opposed to now where warehouses full of ASICs that use as much electricity as a city mine far less Bitcoin than those CPUs. Nakamoto’s alleged accumulation is currently worth USD 7.26 billion.

Both stashes in discussion are split between multiple Bitcoin addresses to maintain anonymity. The biggest Bitcoin wallets in the world belong to major cryptocurrency exchanges Bitfinex and Binance with BTC 180,168 (USD 1.2 billion) and BTC 158,779 (USD 1.06 billion) respectively. Of course, these Bitcoins are the property of customers, so no single known individual or organization comes close to Bulgaria’s and Nakamoto’s stashes.

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ICO All-In is a new platform that allows users to take a holistic view on upcoming ICO’s, in order to determine which prospects are worth investing money into.

Disclosure: This is a Sponsored Article

Platform to easily display information needed, ICO All-In fills need

As crowd sales have become the de facto standard in raising funds within the cryptocurrency sphere, token sales and announcements pop up every day. With an overwhelming sea of information, a need for a single, reliable, and comprehensive platform arose.

That’s where the Hong Kong based ICO All-In platform comes in to play. The platform allows users to compare several ICO’s at once across different factors. Users can check the progress of current ICO’s, review ones that have ended, as well as schedule their calendars for upcoming ICO’s.

Ranking System/ Methodology

ICO All-In also categorizes each ICO by industry, as well as gives them each a rating from A (BTC/ETH competitor) to E (fraud). U is also assigned for unrated ICO’s. A higher rating is given to projects that are revolutionary, but also farther along the developmental stage.

For example, a project that has been online for couple years seeking funding for expansion would be ranked higher compared to a startup with no product in an untested market.

The platform combines two ways of evaluation:

The first method is through a standard rating system (described above), collecting information on the projects, and man-machine integration (use of AI in collaboration with IBM’s Watson AI program.

The AI will be used to score the project as well as give the project objective assessments.

A team of internal and external experts are then brought in, to anticipate future benefits and risks of the project. The team is also invited for their subject and objective judgements regarding the outlook of the ICO.

The above two methods draw basis from modern financial theory and methods, in order to provide high ROI portfolios for ICO investors. ICO All-In’s website goes into depth regarding their methodology, and what exactly is taken into consideration.

ICO All-in also plans to publish expert and public evaluations in the future, allowing viewers to compare the difference between the both for even better feedback.

ICO projects are able to submit information about their mission to the platform, allowing the startups to make sure the platform is getting verified facts. Users can then back the ICO’s directly from the platform, allowing projects to gain exposure from more confident backers.

Private sales through the platform possible

ICO All-In’s platform also allows access to private sales that users would not be able to access anywhere else. This creates a win-win situation for both the platform and participating crowd sales.

For more information, to submit your own ICO project, or to invest in other ICO’s, check out the  website. To keep in touch with the community and team members to discuss the platform or ICO’s, hop on to the ICO All-in Telegram channel. For social media updates, make sure to follow their Facebook and Twitter accounts.

The worlds first autonomous floating island nation-state is set to be completed by 2022 and has begun selling the cryptocurrency intended to drive the project today.

Varyon Token On Sale Today

The project which is backed by PayPal founder and billionaire Peter Theil is planned to be a sea-bound, city-state containing 300 homes along with a handful of commercial buildings, including restaurants and hotels, built in the Pacific Ocean off of Tahiti. The project will be a collaboration of two non-profit organizations, The Seasteading Institute and Blue Frontiers.

Varyon, the cryptocurrency intended to fund the project, has gone on sale today at the investor level. Details about the pre-sale were released by the project;

“Varyon (VAR) is expected to be required to purchase seasteads, fractional ownership of seasteads and seastead residency from Blue Frontiers, the presale is available today for the first 4,000 ETH with bonuses from 5% to 15%. The public sale date is yet to be determined.”

The crowd sale of the token will be divided up to fund the various developmental aspects of the project including; design and engineering, community growth and general administration needs. Sales of property, shares, products and any services from Blue Frontiers are all expected to be done only through the Varyon token.

Varyon describes the token as ‘an easily exchangeable token, of which only a billion will ever be made. Varyon will also be tradable and usable beyond just Blue Frontiers.’

Construction of the ‘utopian’ island state is set to begin next year following an agreement signed with French Polynesia in 2017. The design of the colony, which is shaped like a fishhook was created to address climate change in the region. As sea levels increase, possibly rising as much as 6 feet in the region, so to will the entire superstructure of the island.

Floating Island Nation The Ultimate Disrupt

Nathalie Mezza-Garcia, a political scientist and researcher for the Floating Island Project, told the Daily Mail that,

“the island’s residents will be free of fluctuating geopolitical influences and trade issues’ and claimed the nation “could one-day house refugees displaced by climate change.”

The concept as conceived of by Peter Theil is not routed in creating a tropical getaway but as an alternative to living under the auspices of any of the existing world governments.

President of the Seasteading Institute, Joe Quirk, reiterated this notion when he said he wanted to see ‘thousands’ of rogue floating cities by 2050, each of them ‘offering different ways of governance’. As Quirk told the New York Times ‘Governments just don’t get better, they’re stuck in previous centuries. That’s because land incentives a violent monopoly to control it.’

Image from blue-frontiers.com

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Blockchain technology has come a long way since it was introduced as the underlying technology driving Bitcoin. As the field continues to advance, modern blockchains such as Ethereum, EOS, NEO, Cardano and others are becoming software platforms where startups can build entire products and utilize decentralized features inside their own applications. Today, blockchain technology is being used to transform supply chain management, e-commerce, real estate, healthcare, and many other industries.

For example, Propy is building a decentralized real estate title transfer platform on the Ethereum blockchain. And a project created by the MIT Media Lab, known as MedRec, has developed a solution to use blockchain smart contracts to create a decentralized content-management system for healthcare data across providers.

Yet as blockchain technology continues to enter the mainstream, a number of challenges have developed.

“The attempt with blockchains is to arrange distributed data storage in a way that is secure and auditable by everybody involved. Yet the variety of problems are issues of scaling and issues of decentralization by proof-of-work that turn out to be unnecessarily expensive relative to the results that wish to be achieved,” Professor Whitfield Diffie, inventor of public key cryptography, stated during the Impact and Cryptography panel at CPC Crypto DevCon.

Professor Diffie is known for being one of the early pioneers of public-key cryptography. Diffie famously co-authored a landmark paper in 1976 that laid the foundations for public key cryptography, a key element of modern internet security and cryptocurrencies.

According to Diffie, there are a number of challenges facing blockchain technology today, especially in terms of securing data storage on the blockchain.

Data Privacy

For example, data privacy is one of the main challenges companies face with the application of blockchain technology. This is because a number of projects deal with sensitive data that cannot be openly stored in a public ledger. For instance, Propy deals with real estate transactions, and the title transfer information for these transactions are quite sensitive. This information usually includes agreements, home addresses, transaction prices, and even the digital wallet addresses and identities of the buyer and seller.

However, there currently are not many solutions available to ensure data privacy for blockchain applications. And while there are different options to help with data privacy, each comes with pros and cons. For instance, one of the simplest methods would be to store the encryption key inside a smart contract and automatically encrypt or decrypt the data. While this approach works, it is still vulnerable to hackers who can reverse engineer the smart contract and retrieve the key.

Another option would be to use multiple keys for data storage, allowing each user to encrypt or decrypt their own data using their wallets’ private keys. If the user’s private key were compromised, only the data of that particular user would be breached and not the entire dataset. Unfortunately, this approach is viable only for a subset of projects.

Using biometrical data could also be a solution. However, according to Diffie, the best option here would be a combination of both biometrical data and digital keys.

“I think a combination of both digital and biometrical data would be the way to go moving forward. Biometrics are, in some sense, antithetical to the basic notion of crypto protection. Because the important thing about cryptography, and in communication cryptography in particular, is that if the key is compromised, this may have an effect,” explained Professor Diffie during his panel. “If you are depending on something that is derived from biometric property, the one difficulty is that biometrics may not have the same stickiness to the characteristic that you’re trying to represent.”

Scalability

Scalability is the ability to process a certain number of transactions per second. Yet scalability has always been a bottleneck for the Bitcoin blockchain, as it focuses primarily on decentralization and security and less on scalability.

Currently, the average transaction time is ten minutes for Bitcoin transactions and seventeen seconds on average for Ethereum transactions. Also, the cost per transaction can be high, and there is still a limited ability of the network to interface with real-world information.

Ethereum’s PoW will soon be replaced by the PoS protocol Casper, which already runs in the testnet. The main functionality is working and demonstrating good results, yet there are still issues that will need to be solved in order to resolve the scaling problems.

EOS could also be considered here. EOS is a smart contract platform for building decentralized applications aimed to solve some of blockchain’s biggest problems. Block.one, the developer of EOS, claims the platform has eliminated transaction fees and has the ability to process millions of transactions per second.

However, EOS has recently faced a round of criticism for its lack of decentralization and its underwhelming technical robustness. The problem results from the system’s lack of mediating capacity and centralized enforcement over the pool of Block Producers – twenty-one entities elected by token holders and responsible for validating transactions under the Delegated Proof of Stake consensus mechanism. EOS has recently sparked a round of controversy for not having a clear procedure to follow when dealing with security breaches, which goes against the entire decentralized structure on which the blockchain community is built.

“In security systems and in cryptographic systems in particular, the question has always been how to couple the technicalities of these systems to the social phenomena they’re trying to support. The obvious thing that we worked on a lot with cryptography, and certifying authorities, shows that we want to support the sort of credential systems that existed in the world without the foundation of governmental and corporate authority structures,” said Diffie. “We cannot have any of these existing authority structures. We can build a peer-to-peer entity by doing that.”

State Of Storage

Finally, the state of storage is another issue facing blockchain platforms. All blockchain protocols currently store all the states in each node, including smart contract code, balances, storage, etc. This greatly adds to the security of data, but also severely limits scaling and delays transactions.

Bitcoin’s blockchain of simple transactions is upwards of 150GB in size. Yet any business institution using blockchain technology for a traditional database can expect every node to require much more space than that. This problem would be compounded if a company were to operate a private blockchain and control every node itself.

A solution to consider is sharding, which involves splitting the states into partitions or shards, where each shard contains only part of the data. A blockchain platform like Zilliqa is designed to scale using sharding technology, which allows transaction rates to increase as the network expands and scales with an increase in the number of miners. Yet while it may sound simple, there are a lot of challenges involved such as cross-shard communication, data availability, and a whole range of security issues that must be resolved.

Stephen James BMW, which operates five BMW dealerships in London and Kent in the United Kingdom, is now selling cars for Bitcoin via BitPay. This is another example of how Bitcoin can be used as a medium of exchange, even for large purchases like luxury cars.

Stephen James is now accepting Bitcoin for the purchase of your new BMW! Contact us today to find out more about how you can use Bitcoin to walk away with a brand new vehicle #bitcoin #bitpay pic.twitter.com/qN1Bq5Juc1

— Stephen James BMW (@SJBMWGroup) July 5, 2018

BitPay is a Bitcoin payment processor that has been operating since 2011, making it one of the oldest cryptocurrency companies. As of late 2017, BitPay was on track to process USD 1 billion of Bitcoin payments annually. BitPay insulates merchants from market volatility by instantly converting Bitcoin to fiat at the time of payment. This is important since Bitcoin often sees prices swings of 5% and sometimes in excess of 10% on a daily basis, which could cost a car dealership quite a bit of money if they accept Bitcoin for a USD 100,000 luxury car.

Ever since ‘Bitcoin Pizza Day’ in 2010, marking the first time in recorded history that Bitcoin was used to purchase physical goods, Bitcoin has been accepted by an ever-expanding list of companies as a form of payment. Bitcoin is an excellent way to pay since it can be sent instantly anywhere in the world and is cryptographically secure. Not even the most powerful supercomputer in the world can compromise a Bitcoin transaction. Although Bitcoin is not accepted by every merchant in the world, practically any good or service in the world can be purchased with Bitcoin at this point.

The biggest Bitcoin purchases in history have been for real estate. A 7-bedroom mansion in Miami, Florida sold for USD 6 million of Bitcoin, and this is the largest known Bitcoin purchase in history. The Palazzetto mansion in Rome, which has an estimated value of USD 44 million, is up for auction and Bitcoin is an accepted payment method alongside USD. If the Palazzetto ends up being purchased with Bitcoin then it would become the most expensive Bitcoin purchase in history by far.

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One of the world’s top sources of information about the crypto market is now hiring. Coin Market Cap has listed open positions in the careers area of their website just as they have finally created their own, official Subreddit.

CMC is Hiring

Coin Market Cap is the go-to point of choice for many active members of the cryptocurrency market. The site gleans data from multiple exchanges to which they contribute their own research in order to provide the most up to date representation of each cryptocurrency.

Today the site has listed new positions available for both a full stack engineer and a lead ui/ux designer. Both positions seem to be remote opportunities and the company lists among the benefits; open work scheduling and full health coverage among others that include unlimited vacation. The company includes a mission statement on the page which reads:

“We believe in an open and decentralized world, where we play a pivotal role in powering decisions and insights to drive greater understanding and adoption of cryptocurrencies. We want to achieve this mission with people who truly believe in the value and potential of empowering individuals.”

In related news Coin Market Cap has officially begun its own subreddit page. The page which went up only ten hours ago at the time of writing already has 166 subscribers. It welcomes users with this opening post,

“We will be posting updates and having more conversations with you here about crypto, market caps, how the market is doing, product improvements, feedback surveys, etc – our team is excited to be able to talk to all of you directly.”

The official CoinMarketCap subreddit – r/CMC! from CMC

The creation of the subreddit was welcomed by users of CMC some of whom have already posted suggestions about coin inclusions and serious questions concerning CMC’s policies.

Crypto is Fuel for a New Internet

Reddit is a hotbed for discussion and debate among active members of the crypto world from traders to developers to startup founders and is often the first point of breaking news and information from the space. Reddit co-founder Alex Ohanian has been an active cryptocurrency pundit since he quit actively managing the site. He recently called cryptocurrency ‘fuel for a new internet’ and has been outspoken about his beliefs that cryptocurrency can be a real solution for those who are under-serviced by fiat banking institutions.

Reddit will be relaunching cryptocurrency payments on the site according to Chris Slowe, the chief technology officer after suspending them in March. In addition to Bitcoin, they are also considering the inclusion of Litecoin and Ethereum for use by its gold members.

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R3’s Corda blockchain platform has gone commercial with a new release catering specifically to businesses

Bitcoin Press Release: BINEX.TRADE has reached a new milestone, and  the exchange has unveiled its Brand Ambassador program to reward users for their loyalty and commitment towards the platform. The Brand Ambassador program has a lot to offer for traders and investors on the platform.

3rd July, 2018. Singapore: BINEX.TRADE has also garnered tremendous response from its users and has been reaching new milestones in its journey. The platform’s Brand Ambassador program is geared towards those who have a strong inclination towards the BINEX.TRADE ’s vision and the scope of cryptocurrencies, in general.

Participants would be chosen based on how well versed they are with cryptocurrencies, blockchain technologies and also their understanding of the finer nuances of the exchange.

BINEX Ambassador

Upon being selected as an Ambassador one would have to get engaged in simple social media tasks like engaging on forums or penning posts on prominent social media platforms like Facebook, Twitter, Medium and Telegram among others; something that most of us love to do on a daily basis. Users will get rewarded in the form of BEX tokens and the amount of BEX tokens allocated shall depend upon the users Ambassador score.

Participants shall get rewarded on a proof-of-work basis with BEX tokens that would help garner a regular income for a lifetime.

BINEX.TRADE’s Ambassador program shall help enhance the exchange’s community outreach. Furthermore, it will act as an extension of the exchange’s vision of building a strong new cryptocurrency community; Ambassadors will take the lead towards building authentic and long-lasting relationships with the cryptocurrency community worldwide.

BINEX.TRADE is expected to introduce several offers for registered users and coming aboard on t.me/binextrade on Telegram is the best way to keep users updated about various new exchange related developments. One can register and sign up on BINEX.TRADE after which they will get introduced to the BINEX.TRADE Ambassador dashboard. Apart from this, the exchange has announced a novel giveaway that shall reward users that garner the most referrals within a specific period like a week and a month.

About BINEX.TRADE

BINEX.TRADE provides space for immediate buying and selling of cryptocurrency once spotted to be favourable for the user to either sell or buy. This is one of the simple order types and has no control over the price received. In other conditions of less immediacy, the user can use limit order type. This will allow the trade user to have control over the price at which the trade takes place, thereby giving the user an edge to sell or buy the cryptocurrency at no less than a specific price.

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CoinGate is making Lightning payments accessible for mainstream merchants and reaping research in return.

Pan Gongsheng, a vice governor of the People’s Bank of China, has once more issued strong statements on initial coin offerings.