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Messages - Joankii

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1
A study into the traceability of top privacy coins reveals over 99% of Zcash users fail to utilize the protocol’s privacy features.



Researchers from Carnegie Mellon University have released a study into the privacy features of Monero (XMR) and Zcash (ZEC) — arguably the two most-popular crypto assets purporting to offer users anonymity.

The report finds that Monero’s introduction of strict security and anonymity requirements on its broader ecosystem has maintained the asset’s status as “effectively untraceable.”

Transversely, the report concludes that the lack of utilization of Zcash’s privacy capabilities on the part of more than 99% of users undermines the privacy of the overall network despite ZEC offering “strong cryptographic features.” Read More

2
Russian politicians suggest fines and prison terms of up to 7 years for illegal issuance and use of cryptocurrencies.



Russian lawmakers have suggested punishments of up to 2 million rubles ($27,800) and seven years in prison for illegal turnover of digital assets and cryptocurrencies.

As reported by the Russian business channel, RBC, the draft amendments to the administrative and criminal offences codes were confirmed as genuine, but have not yet been agreed into law. Read More

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Even though cross-chain systems are gaining more attention, experts believe it will take some time for this technology to evolve and mature.



As per a detailed report released by accounting giant Deloitte at the World Economic Forum on the subject of blockchain interoperability, this fast-evolving technology still has some distance to tread before it can be ported into action for mainstream purposes such as large-scale supply chain management, secure data sharing and other processes.

In this regard, a number of big-name web service providers such as IBM, Oracle, Azure Blockchain Services and SAP have been vocal in their support for cross-chain platforms and have made a firm commitment to solving many of the issues that currently plague this fast-growing technology.

For example, the World Health Organization in conjunction with the help of the aforementioned companies was able to deploy a platform called MiPasa, which has been built atop the Hyperledger Fabric framework, to enable the “early detection of COVID-19 carriers and infection hotspots.”

Similarly, tech giants Accenture and Fujitsu recently announced that they are currently working on an open-source software called “Hyperledger Cactus,” which will allow for the secure and reliable integration of multiple blockchains using Fujitsu’s proprietary security technology “ConnectionChain” and Accenture’s “Blockchain Integration Framework.” The project is aimed at fostering a new foundational framework that can enable faster asset transfers and streamline the recovery process associated with blockchain transaction errors.

With all these platforms already launched, there are still a lot of concerns around cross-chain technologies, such as, “Are they really feasible?” and, “How will their governance work?” and perhaps most importantly, “How can public and private blockchains be linked with one another without any security or privacy lapses occurring?” Read More

4
The team behind CryptoKitties, the popular crypto-collectibles game, has announced the game will launch on the Flow blockchain.



Dapper Labs has announced that its popular Ethereum-based collectibles game CryptoKitties will be launched on its Flow blockchain.

Flow blockchain was built by Dapper Labs to address many of the challenges the team encountered in launching on and “breaking” Ethereum — with CryptoKitties causing unprecedented network congestion on the Ethereum network when it launched on mainnet.

Dapper also devised a new proprietary smart contract-oriented programming language designed for smart contracts for Flow called Cadence — which is currently being explored by Libra as part of a tech sharing deal between the two entities.

Dapper Labs’ chief executive Roham Gharegozlou told Cointelegraph that Flow comprises “a high throughput platform where developers can build applications for [non-fungible tokens] NTFs that millions of people can use.” Read More

5
Digital payment platform Uphold announced a partnership with web monetization provider Coil utilizing the Interledger Protocol.



Digital payment platform Uphold has announced a partnership that allows Coil creators to be able to select the platform as their wallet provider to receive payments in over 50 currencies.

Coil is a service that provides alternative methods for content producers to monetize their work online. “The ability to pay for [their] app subscriptions, news articles, or premium experiences with zero-clicks and in real time feels like the future,” said Robin O'Connell, Chief Revenue Officer (CRO) at Uphold.

The partnership with Coil will utilize the Interledger Protocol and allow creators to accept payments in more than 50 fiat and digital currencies and enable bank connectivity from over 34 countries.

O’Connell added that the company is “uniquely positioned to provide partners like Coil the ability to bridge old and new money systems while offering a seamless payment settlement for its creators.” Read More

6
World regions with fast-growing financial and economic potential, such as Africa, could become the predominant crypto adopters.

 

Back when digitized banking service evolutions such as debit cards, online banking and check imaging were sweeping the financial sector, one could have never imagined what was coming next. I certainly did not, having spent more than 10 years during this time advising executives of major global banks on the implementation of these game-changing technologies.

The creation and digitization of new currencies, not owned by the government but by the people, has found its home in the global market over the last decade, starting with Bitcoin (BTC) and soon exploding to thousands of alternative digital currencies available for exchange and with a total valuation of $285 billion, each with its own form of value and usage. Read More

7
DigiByte’s founder has stood down citing a corrupted crypto culture fixated on profiteering just weeks after DGB rallied 90% in six weeks.



Jared Tate, the founder of DigiByte (DGB), has announced he is stepping down from his daily operation, accusing the crypto community of becoming “co-opted [and] eroded by greed” and warning of centralization.

Tate’s announcement comes shortly after DigiByte rallied by 900% in roughly six weeks.

DigitByte founder stands down
In a series of tweets posted on May 15, Tate took aim at the blockchain community for placing an emphasis on short-term profiteering.

“All 90% of the people care for is cashing out when a coin moons,” he said. “It's a primal force. I get that. But everyday I see this tech being used to enrich the few at the expense of the long term good of the many.“

“The centralization of this industry will be its undoing if we let it,” he continued, emphasizing that the consolidation of the blockchain sector limits meaningful participation and engagement from everyday people. Read More

8
The U.S. is printing dollars and slashing interest rates to help the people, but will it affect the crypto market?



Policymakers around the world have committed unprecedented amounts of fresh money in a bid to stave off an impending recession, or worse: a total depression. In the United States, the Senate approved a $2 trillion stimulus package in late March, and the House of Representatives has now accepted a proposal from House Democrats for another $3 trillion meant to ease the needs of Americans who are facing an unemployment rate of nearly 15%. As a response to COVID-19, the Federal Reserve has undertaken a wave of quantitative easing unparalleled in its history.

As the monetary body responsible for managing the world’s reserve currency, the Fed uses quantitative easing as a means of infusing the economy with fresh liquidity. Having total control over money printing allows the Fed to print as many dollars as it wants, which it then injects into the financial system by purchasing assets on the open market.

Market observers recall the aftermath of the Great Recession in 2008, when the Fed brought up over $1.2 trillion worth of assets in just four months as a way to pump fresh capital into the markets. However, the scale of quantitative easing undertaken in the wake of the COVID-19 crisis dwarfs anything that happened before, with the Fed putting no cap on the amount of money it plans to infuse into the system.

Over the past 2 1/2 months, the Fed has purchased around $2.8 trillion worth of assets. Unlike in the aftermath of 2008 when the governing body limited its asset purchases to secure U.S. Treasury bonds, this time around it has committed to buying riskier assets such as corporate and municipal bonds as well.

9
The thread old, i lock thread.

10
Ethereum's co-founder recently tipped his hat to EOS for its niche-carving efforts.



In a recent series of tweets, Ethereum co-founder Vitalik Buterin gave a nod of approval to competing blockchain EOS with regard to the niche they are trying to carve out. 

"If I were designing a new chain to live alongside Bitcoin and Ethereum, I would take all the political tradeoffs that BTC and ETH aren't willing to take," Buterin said in a May 15 tweet referring to Bitcoin and Ethereum.

Vitalik labeled EOS aspects of interest
Listed by Cointelegraph as the fifth most influential person in crypto and blockchain, Buterin holds significant weight in the industry.

Buterin noted quadratic voting-based on-chain governance and all built-in cryptographic procedures as tradeoffs of interest. He also included on-chain oracles for all events, instead of ones that simple relay price moves. 

Blockchain identity usage also surfaced
Buterin also mentioned potentially adding some form of identification on the network. "Perhaps even an on-chain model of identity, at least for participants who want to participate in governance (non-governing actors would still be fully anon)," he said, although he specified constructing the feature "smarter" than other current platforms.

"This is why I actually have some respect for EOS and co.," Buterin said in conclusion. "I disagree with DPoS but at least they're trying to develop a cohesive and principled alternative niche," he added, referring to the delegated proof-of-stake blockchain framework.

Cointelegraph reached out to Buterin for additional details but received no response as of press time. This article will be updated accordingly should a response come in.

11
Officials from the People’s Bank of China push to accelerate adoption of the country’s Fintech Development Plan.



The People’s Bank of China, or PBoC, Financial Technology Committee held its first meeting of the year this week. During the meeting, the central bank’s deputy governor, Fan Yifei, urged that the country’s blockchain adoption strategy be accelerated.

According to a report released by Sina on May 13, the bank’s deputy governor met with both PBoC officials and the heads of their affiliated financial companies. During the talks, Fan highlighted the importance of the blockchain and fintech industries, openly seeking to ensure that the country’s adoption plan will be successfully implemented by its established 2021 deadline. Read More

12
- Campaigns applied for: Signature
- Forum username: Joankii
- Forum link: https://bitcoingarden.org/forum/index.php?action=profile;area=summary;u=15706
- Telegram link: @Joankii
- IQ Wallet address: QfKxD1Yi8QxXYcVMor9DQ5DhTAYtKjvLM5

13
Agtech startup Agri10x has partnered with the Indian government to boost the income of India’s farmers with the help of its blockchain platform.



A blockchain-based agtech startup Agri10x has inked a partnership with the Indian government to help farmers sell their produce directly to buyers.

According to a report published by local news outlet Business Standard, Agri10x will gain access to half a million government-affiliated common service centers that will help farmers in rural areas register on the Agri10x platform. Read More

14
The halving is just a few hours away — and many miners are already shutting their soon-to-be unprofitable rigs, says Poolin VP Alejandro De La Torre.



With the halving scheduled to happen in just under four hours, unprofitable miners have already begun shutting down their equipment, vice president at major mining pool Poolin Alejandro De La Torre said in a May 11 interview with Cointelegraph. Per his estimations, these miners account for “15-30%” of the entire Bitcoin (BTC) hash rate.

“Mining farm personnel are shutting [their units] off as we speak since they will not want to do it after the halving — because then they're losing money,” De La Torre told Cointelegraph.

The miners who are now fleeing will likely never come back online if they don’t upgrade their equipment or find extremely cheap electricity sources, because the mining reward will be halved once the event occurs:

“All older machines will no longer be profitable unless they are mining on nearly free electricity or if the price shoots up by 2x or more.”


According to De La Torre, unprofitable mining operations based in China will be the first to switch off. The halving will take place at early morning local time, which is why Chinese operators are now shutting down profitless units before punching the clock. Read More

15
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