Monday, October 23, 2017

How Blockchain Is Transforming The Energy Industry - OilPrice.com


How Blockchain Is Transforming The Energy Industry
OilPrice.com
Global banks recently started partnering with Fintech firms like R3 and Finastra to develop a blockchain-based marketplace for syndicated loans. Blockchain startup Digital Asset Holdings is at the helm of providing DLT for regulated financial institutions.



from blockchain - Google News

MIT Issues Diplomas Using the Bitcoin Blockchain - CryptoCoinsNews


CryptoCoinsNews

MIT Issues Diplomas Using the Bitcoin Blockchain
CryptoCoinsNews
The Massachusetts Institute of Technology (MIT) has begun a pilot program to test the benefits and challenges of using the bitcoin blockchain to issue diplomas. AS MIT News reports, the pilot program began this summer and provided 111 MIT graduates ...

and more »


from blockchain - Google News

Globitex: Commission-free Bitcoin Cash Trading and Token Sale

The institutional-grade Bitcoin exchange, co-founded by an early Bitcoin adopter Jon Matonis, has announced their token sale project to facilitate a step-change in trading volumes and liquidity.

[Note: This is a press release.]


October 2017, London, UK – Globitex, a Bitcoin exchange with advanced API functionality, is scaling to accelerate Bitcoin development into a truly global currency and will accept Bitcoin (XBT), Ethereum (ETH) and Bitcoin Cash (BCH) for its forthcoming token sale.

Free trade for BCH and XBT

Following the hardfork of the Bitcoin Blockchain at 12:20:00 UTC on 1 August 2017, a new Bitcoin-based Blockchain known as Bitcoin Cash (BCH) was created. Balances on the existing Bitcoin (XBT) Blockchain were duplicated on the BCH chain. In the following weeks, Bitcoin Cash has gained significant miner support and user interest and is therefore also being supported by cryptocurrency exchanges.

All Globitex clients who held XBT in their Globitex wallets before the time of the fork, now have been credited with an equal amount of BCH. Now, the new currency can be deposited, withdrawn and traded against EUR on the Globitex exchange.

Since the platform is currently in open beta, no commission fees will be charged on BCH trading for the foreseeable future. XBT trading will also be commission-free.

Global Currency

Globitex is set to be instrumental for Bitcoin to scale economically and to become a currency of international settlement. The exchange aims to increase Bitcoin’s liquidity to price goods in XBT and trade directly against it, across the full spectrum of the financial markets – starting with commodities and expanding throughout the money markets, all priced in Bitcoin.

Globitex is holding a token sale with the aim of accessing new markets and upgrading its infrastructure, providing powerful APIs and direct market access for algorithmic traders. The GBX token, which will take the form of a smart contract on the Ethereum platform, will be used to settle trades on the exchange and within loyalty programmes for Globitex clients.

Token Sale

The GBX token public sale will start on 8 November and last for one month, or until 72 hours after the soft cap of GBX 500 million tokens is reached. Tokens will be sold for the equivalent of EUR 0.10 in XBT, ETH, and BCH, with early investors receiving discounts.

For more information, visit https://Globitex.com, or to participate in the token sale visit www.GlobitexICO.com.


Images courtesy of Globitex

The post Globitex: Commission-free Bitcoin Cash Trading and Token Sale appeared first on Bitcoinist.com.



from Bitcoinist.com

Cashaa Welcomes Central Bankers, MIT Scientists and Fortune Top 500 Leaders for its CAS Token Sale

Cashaa, the blockchain-based financial services initiative, has announced that a number of new high-profile Advisors will be joining its team. One of the most recent is Dr. Bernard Lietaer – the author of a number of widely-acclaimed books including The Future of Money; Money and Sustainability; and New Money for a New World – who … Continue reading Cashaa Welcomes Central Bankers, MIT Scientists and Fortune Top 500 Leaders for its CAS Token Sale

The post Cashaa Welcomes Central Bankers, MIT Scientists and Fortune Top 500 Leaders for its CAS Token Sale appeared first on NEWSBTC.



from NEWSBTC

Universa Takes to the Skies

Universa has joined the Blockchain.aero consortium that unites manufacturers, service providers, and software developers working to make mass urban aviation a reality. Rapid advancements in engineering allow for a completely new type of aircraft and infrastructure, but manufacturers don’t have to limit themselves to simply selling the product. By employing blockchain technology along with the … Continue reading Universa Takes to the Skies

The post Universa Takes to the Skies appeared first on NEWSBTC.



from NEWSBTC

Confideal: Smart Contracts Made Simple

The blockchain is attracting a lot of attention and with good reason. In addition to its impressive security and reliability benefits, the development of blockchain-based smart contracts represents the future of transactions. From individuals to enterprises, smart contracts are changing the nature of the deal, and they are opening up new opportunities for business interactions. … Continue reading Confideal: Smart Contracts Made Simple

The post Confideal: Smart Contracts Made Simple appeared first on NEWSBTC.



from NEWSBTC

How Blockchain can revolutionise the music and media industries - YourStory.com


YourStory.com

How Blockchain can revolutionise the music and media industries
YourStory.com
If you are an artist, a music producer or just a huge music fan like me, you are probably wondering how Blockchain, the technology behind the digital currency Bitcoin, will revolutionise the music industry. But just as industries across verticals are ...



from blockchain - Google News

Quantum Computing and Building Resistance into Proof of Stake

Particl Thumb 4

While both mining via Proof of Work (POW) and staking are two of the most popular ways to perform work to earn income, cryptocurrencies are also susceptible to advances in computing, which could undercut the value of the coins by making them much easier and less expensive to mine. The dawn of quantum computers is upon us. And while this causes many to fear the loss of income potential, the truth is that an increase in difficulty to mine or stake is factored into the underlying algorithms in blockchain systems which have adjusted accordingly from central processing units to graphics processing units. From field-programmable gate array to application-specific integrated circuits.

 

The real threat quantum computing has for cryptocurrency work systems is in attacking the public-key cryptography.

Quantum Computing and Bitcoin

Satoshi Nakamoto created Bitcoin on the unspent transaction output (UTXO) model. In basic terms, think of all bitcoins in your wallet as change. When making a payment, this change is combined and sent. Once bitcoin is spent, the public keys of that address are broadcast to the entire network so that they can verify that you signed the coins over to a new address. Quantum computers have the ability to reverse your private key from your public key, so address reuse becomes a problem.

 

With the UTXO model, any change you have from a transaction will go to a newly generated address. All addresses which have never been spent are safe from a public-key attack because the key has not been broadcast. This does not change the fact that many basic users reuse addresses for convenience and many work protocols like POS reuse addresses as well.

Vulnerabilities in POS

To generate passive income by POS, this process is called staking. During staking, some of your coins are locked and unavailable to spend. Similar to a savings account in a bank, these coins are reserved by the network for a short period of time. In return for borrowing these coins the owner receives interest (coins) just like banks pay customers interest. POS coin supplies are inflationary at a variety of yearly rates; providing stakers better interest than local banks or credit unions.

 

In most cases, your coins need to be available to the network (online) in order to be staked. However, if you lack guaranteed internet connectivity or just prefer not to keep your wallet online all the time in order to mitigate potential exposure to security risks, you are at a disadvantage because you can’t earn passive income on your coins while they are offline.

 

While staking is considerably less energy intensive, POW is still considered by many to be superior to POS. One of the chief arguments for that position is a security flaw in staking systems — POS gives away your public key when you stake.

This argument has merit because in most cases coins are stored in a small amount of addresses, mostly one, and that address is unlocked (unencrypted) for staking. The public key of these unlocked staking addresses is regularly being broadcast to the network.

One project building resistance to quantum computing is Particl, the open-source privacy framework built on blockchain technology. Here’s a look at how that project leverages innovations like cold staking, multi-signatures and HD wallets to improve POS security, maximize income-generation  and provide secure, private, flexible spending options for owners of its token, PART.

Cold Staking

In its most basic terms, cold staking keeps your spend public key and private key private.


While you still need to be online to generate stakes, cold staking leverages multi-signature addresses so you can stake from multiple computers. A person earning passive income on a network with cold staking, like Particl’s, can set up a dedicated stake-only machine while simultaneously spending those coins around the world on any mobile HD wallet like Ledger or Particl’s own Copay App.

 

In terms of quantum resistance, this makes reversing private keys to public keys nearly impossible. For beginners, the stake-only machine is broadcasting a public key that is different than the mobile wallet key. In order to steal coins, both private keys would need to be known when using multi-signature. The more computers broadcasting stakes and spending stakes the greater the resistance becomes.

 

On November 10, the Particl network will have a planned hard fork to activate cold staking on the main blockchain. The team has been community testing this new feature on its test network since the beginning of August.

Summary

Although most cryptocurrencies lack cold staking support, Particl is not the only platform to support it. A few others, such as BlueCoin and BlackHalo, also enable cold staking.


If you’re seeking to build a reliable passive income stream over the long-term using cryptocurrency, a feature like quantum resistance is important. If the past half-century is any indication, computers will always grow more and more powerful. A sudden advance in computing technology could practically wipe out the value of coins that lack quantum resistance.

 

As the cryptocurrency world evolves and grows more complex, generating income reliably using cryptocurrency is also becoming more challenging. Features like cold staking and quantum resistance provide income-generation benefits and guarantees that are now available from core cryptocurrency platforms like Particl.

The post Quantum Computing and Building Resistance into Proof of Stake appeared first on Bitcoin Magazine.



from Bitcoin Magazine

AICPA and WSBA partner to drive blockchain adoption - Accounting Today


Accounting Today

AICPA and WSBA partner to drive blockchain adoption
Accounting Today
The American Institute of CPAs (AICPA) and Wall Street Blockchain Alliance (WSBA), a nonprofit trade association promoting the comprehensive adoption of blockchain technology across global markets, have created a partnership to define the impact of ...

and more »


from blockchain - Google News

Blockchain for Change – Identity as a Point of Access

blockchainforchange

In the United States, approximately 13 million voting-age citizens do not have proper and updated identity documentation. One study showed that this gap in documentation directly prevents low-income individuals from accessing basic services, noting: “An officially-recognized form of ID is the key enabler – critical not only for exercising a wide range of rights but also for accessing healthcare, education, finance, and other essential services.”

The very access to ID(entity) is a luxury, over 1.1 billion individuals worldwide do not have. How many of you have been asked to show your ID(entity) and had to pull out a driver’s license, a passport, a visa, etc. These pieces of paper are the documents that prove who you are. They are needed for when you drive a car, when you enter a bar, when you go to school, and when you want to open a bank account. It is almost impossible for individuals to live in our world without having access to any of the opportunities and services above.

Blockchain for Change (BCC), a New York City-based startup, recognizes that a digital identity coupled with security of personal information and financial inclusion is the foundation to build social wealth and capital. “Governments absolutely can’t ignore the fact that digital IDs will be the way that we interact in the future, and will be a key driver in how we interact with services.” said Calvin Bradley, Co-founder and CEO for Blockchain for Change. Blockchain for Change has developed a safe and secured method of exchanging information/identities that would curb the numerous data management leaks we have seen in the recent past. By building its blockchain-based Smart ID app, Fummi, and making it accessible to those who need it most, BCC is paving a path to financial security for the underserved and underbanked.

One of the most unique crypto-based applications being developed, Fummi, makes use of both Hyperledger Fabric and Ethereum optimizing their functionality within the ecosystem. The use of both environments allows the application and ecosystem to function on two separate levels; one being the Hyperledger Fabric where the Smart ID is generated through attested proof-of-authority by service providers, and the other being the “Change Coin” on the Ethereum network which provides the money supply and a closed economic system. The utility of the Change Coin is derived from its use on the Fummi marketplace through service providers and users. Service providers can use the Change Coin to onboard users into the ecosystem to maximize data management and coordination. Once the user has market-place access, Fummi service providers are able to offer reduced cost of goods and service through the cooperative purchasing platform.

The underlying premise of Blockchain for Change is that verified identity is required to facilitate inclusion in the modern economy. In turn, inclusion is required for the underlying growth of economies. Without verified identity, the economic systems driven by social welfare services are inefficient. This is a problem not only for the billions of people who are excluded from the system but also the organizations trying to provide welfare services to their citizens. The key value proposition of Fummi is creating an efficient platform for the delivery of welfare services through a plug-and-play infrastructure for service providers to advance financial inclusion in a demographic where more people own smartphones than bank accounts.

Stay in touch for more information through the links below!

Website: http://bit.ly/2y0s5we
Facebook: http://bit.ly/2y0IpgB
Twitter: https://twitter.com/BCCBlockchain
Telegram: http://bit.ly/2iulYxS
Instagram: @blockchainforchangeofficial

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.



from The Merkle