Merklion Agency

We share insights & agency-side experience of running ICOs.

Blockchain technology in gaming industry

Online gaming already represents one of the most popular kinds of entertainment in the digital age. The number of games utilizing online modes and their popularity rises every year. The highly valuable items and loot boxes had already become one of the latest things to keep an eye on for the developers and community.

However, that’s not the case of the future. The world of technology has been in great shake during the last few years – and blockchain is the reason. The emerging revolutionary solutions comes to different areas while promising modern innovations, security, and convenience.

For example, cryptocurrency and blockchain technology were the hottest topics during the Game Developers Conference (GDC) that took place in early 2018.

The recent estimates show the generation of more than $120 Billion in revenue every year by the gaming industry. The game industry has been in the rapid development for the many years, and the popularity is indeed and undoubtedly is as high as never before. Also, this number is snowballing with the constant involvement from players in almost every country in the world. Moreover, the blockchain technology and cryptocurrency are also having an impact on fantasy sports games, a market that is estimated to be worth more than $7 billion a year.

What causes that? The virtual reality experience and play go far beyond the borders, races, beliefs, and languages. Moreover, your age or gender does not matter here. During a recent decade with the advent of the internet-technologies and platforms like Youtube and Twitch, more players had been engaged even in watching others play rather than playing themselves. By entering this industry, this is just another way in which self will change the world.

Most popular online games had already implemented this feature, enabling different built-in mechanics for random rewarding and exchanging between the players. Some companies had already managed to gain profit from it and even organized black market trades. Of course, most players do enjoy the overall game reward systems as they are supposed to be played and sometimes just by so-called “booster packs” for increased chances of getting the rewards. The others use the real, fiat money, to their advantage on the online battlefields. Anyway, the growing popularity of these items between the players seen the trading rise on the black markets. In this case, the cryptocurrencies already do play a part in trades, as valuable in-game items are already selling for different digital assets and even specific platform tokens.

Nowadays, over 2,3 billion people play games every day on different platforms and devices. The gaming industry reached $100 billion of revenue in 2016 and is still booming. Only around 4,000 pro gamers are making profits out of their time spent on games and pursued skills. Just a couple of games with 6% auditory already turn over close to $4 billion trading in-game items. Selling virtual items can also include: Currency or gold; Virtual items such as armor, weapons, mounts, etc.; Boosting services such as PvP, leveling, items drop rate increase; Game account selling. Moreover, the most expensive items ever include $330,000 for the Crystal Palace in “Entropia Universe” as well as $635,000 for Club Neverdie in “Entropia Universe.” One will have a tough time finding a virtual item selling for these massive amounts, but these five games are helping people swell their bank accounts to this day: “Entropia Universe,” “Eve Online,” “Counterstrike Global Offensive,” “Dota 2”, and “World of Warcraft.”

When speaking about the blockchain-based startups, an Ethereum-powered strategy PC-game “Beyond-the-Void” should be mentioned.

Another example is “WAX” – a decentralized platform that enables anyone to operate a fully functional virtual marketplace with zero investments in security, infrastructure or payment processing. WAX is developed by the OPSkins company founders, and it’s designed to serve the 400+ million online players who already collect, buy and sell in-game items.“D-Market” is the marketplace that allows its users are turning every virtual item into a real asset. Though, it is known that 94% of gamers are not involved in global trading at all yet.

Some companies, like the DMarket, a leading global marketplace that uses blockchain technology to transform virtual gaming items into real-world assets, hosted a blockchain and gaming panel discussion during GDC. The purpose of the panel was to provide an explanation as to why cryptocurrency and blockchain technology is having an impact on the gaming sector, which is expected to become a $143 billion global industry by 2020, according to the Newzoo research.

However, modern gamers do understand cryptocurrency options due to the fact that virtual money has been a part around in gaming for the last ten years. For example, dating back to the World of Warcraft which came in 2004, there was a one-hundred million dollar market for buying digital gold. In Wow it was used as the main currency to buy in-game assets, like armor, weapons, different merchandise, dragons or unicorns. However, there was a point – it would take gamers a tremendous amount of time to acquire digital gold, so they would use real money instead to buy in-game assets.

The reason why modern online gaming companies do have such profits is simple – most gamers used fiat currency like dollars to purchase gaming items, and the so-called free-to-play games become very expensive to play.

The latest info from the SuperData shows that the gaming industry generated $108.4 billion in revenue in 2017. Mobile games were the most significant sector, making $59.2 billion, followed then by PC games, which generated $33 billion last year. The interesting fact is that “free-to-play” games drove both the PC and mobile sectors – an estimated $82 billion was spent on these games.

Due to the additional expenses associated with free-to-play games, blockchain-based games are gaining traction primarily because the blockchain technology allows gamers to use cryptocurrency to trade virtual gaming items with one another – without an intermediary (which is actually one of the main points of the blockchain at large). That eliminates the need for gamers to use fiat currency to purchase items directly from game developers.

Another vital point of the blockchain technology is the tokenization as the use of cryptocurrency in gaming also solves the problem behind ownership of in-game assets. This means that once gamers acquire assets, they remain in their possession within a digital wallet until they decide to trade or sell the tokenized asset – just like any other cryptocurrency.

The real problem with the free-to-play games is the illusion this segment implies heavily in order to attract gamers pool – anyway, to achieve real progress and buy decent items, lots of money has to be spent. That problem applies to the whole industry problem, as profit drives all of the major companies. Moreover, most of the modern gaming-producing companies do value profit over everything else, and that creates specific market problems.

With the help of the blockchain technology, gamers will finally have the best options for setting their in-game items, while providing a strong focus on trade and the gaming economy. The best things are that the direct player asset ownership and managing allow for a proportion of game revenues to go back to the player base.

Over time the gaming community continues to show increased interest in blockchain-based games, traditional venture capitalist firms and investors do find value in decentralized gaming platforms.

No wonder that the future union of gaming and blockchain is inevitable as the encrypted blockchain guarantees safe storage of all in-game digital assets, what makes the data transparent to the core. Smart contracts exclude third parties from payment processes, making transactions fast and safe. Blockchain technology is the solution we are all looking for, due to the decentralized network and capability to record each transaction to combat fraud. That actually can trigger the gaming industry’s next evolution.

As the potential for blockchain-based games continues to pique interest from both gamers and investors, the declining prices of major cryptocurrencies could also see a definite shift. The value of cryptocurrencies will become more evident as the gaming community continues to gain more active users through blockchain games.

Rule of 56% – ICO fail number rises

While the cryptocurrency market is quite live, it is still far from its autumn 2017’s heights. Nevertheless, the ICO start-ups market shows the constant growing tendency – due to official statistics of ICORating, the amount of ICO projects in 2018 had significantly grown. The overall market dynamic is definitely positive. The volume of funds attracted worldwide through the ICO for the first quarter of 2018 was $ 3.3 billion. For comparison, in 2017 with the help of ICO funding model, $ 6.1 billion was raised.

For now, not only scam projects and fraud are the worst enemies of the investor though. While more than 4,000 ICO projects have managed to raise a combined total of around $12 billion during all the time – a majority of them fail within four months of their token sales, a new study suggests.

The latest research, conducted by a small team at Boston College in Massachusetts, found that a mere 44.2 percent of token projects are active into the fifth month or beyond, using their social footprint via Twitter as a live indicator.

About 56% of ICO start-ups ceased to exist during the first four months after the successful end of the token sale. According to many analysts, the most secure investment strategy for various tokens is the sale on the first day of trading. Either way, almost all investors get rid of coins purchased under the ICO in the first six months.

More than 1,000 different tokens have already ceased to exist, and overall return on investment is steadily declining.

It should be noted that the monthly investment in ICO projects still holds over $ 1 billion. This trend has been maintained since the beginning of 2018.

While the figures are perhaps shocking, they should maybe be taken with a pinch of salt, as the methodology of the study leaves some wiggle-room for ICOs to exist beyond that 120-day time-frame and not be indicated so in the data.
The tokens usually continue to grow in price, generating average buy-and-hold abnormal returns of 48% in the first 30 trading days.

Dead on arrival

Going for an experiment in determining the usual lifespan of an ICO project, the team behind the research, Hugo Benedetti and Leonard Kostovetsky, chose to use the availability and intensity of Twitter posts to analyze the lifespan of projects and found out that tweet absence during the fifth month meant the absolute project fail or, so to say, it’s death.

The analytics data of the research indicates that the safest way of performing for the projects would be managing to list on exchanges after the token has been launched:
“Breaking it down by category, 83% of the 694 ICOs that don’t report capital and don’t list on an exchange are inactive after 120 days. For the 420 ICOs that raise some capital but don’t list, this figure falls to 52%, and for the 440 ICOs that list on an exchange, only 16% are inactive in the fifth month.”

Moreover, their work beside went on with determining the value of ICOs as investments and the average returns over the different time-frames, after going on for the overall moves in the value of the cryptocurrency markets.
Fact is, the researchers Benedetti and Kostovetsky found that “in contrast to IPOs, tokens continue to generate abnormal positive average returns after the ICO,” with token values continuing to climb for six months after launching.

“We find evidence of significant ICO underpricing, with average returns of 179% from the ICO price to the first day’s opening market price, over a holding period that averages just 16 days. Even after imputing returns of -100% to ICOs that don’t list their tokens within 60 days and adjusting for the returns of the asset class, the representative ICO investor earns 82%.”

Conclusion

Further, the researchers say that startups sell their tokens during the ICO at a significant discount to the opening market price, generating an average return for  investors of 179%, accrued over an average holding period of 16 days from the ICO end date to the listing date.

During his interview, Kostovetsky told Bloomberg that “once you go beyond three months, at most six months, they don’t outperform other cryptocurrencies.”The strongest return is actually in the first month,” he added.

Anyway, the overall conclusion shows that, despite the shocking figures of failed projects, high rewards could be achieved for those that accept the risk of investing in “unproven pre-revenue platforms through unregulated offerings.”

However, the market future looks promising as a lot of promising startups in different areas continue to flourish every passing week.

First world’s ICCO – from Malta with love

The emerging world of blockchain industry had seen different kinds of investment and crowdfunding approaches. The nowadays most popular instrument which is ICO had surely been around for some time and literally rocketed to the moon during the last year, but it’s certainly not the only and top tool to collect money from the investors around the globe.

Malta is known, amongst many other reasons, to be the country which recently applied specific official regulatory measures to make the fundraising for blockchain-based projects fully legislatively regulated within its territory. That implies the first milestone in the industry – the ICCO which stands for Initial Convertible Coin Offering.

The first in the history ICCO was announced by the blockchain company Palladium, and the leading bitcoin-exchange Bittrex – as the first fully regulated environment in Malta.

As stated in the Bittrex press release, the difference between convertible coins is that within three years after the release holders of these coins can at any time change them for shares of Palladium company.

Moreover, Malta is enacting comprehensive blockchain legislation and has a dedicated blockchain unit at the MFSA. This ICCO is one of the unique investment opportunities in the blockchain world. The University of Malta will also offer a special Blockchain degree which will start in October this year.

An ICCO model differs from the now-more-traditional Initial Coin Offering in that investors will be able to convert tokens into company shares at a later date – in Palladium’s case, three years after the sale.

“We expect this project, which will create more than 100 job opportunities, to be a historic landmark and to bridge the gap between traditional financial services and cryptocurrencies,” – founder and chairman Paolo Catalfamo commented. Moreover, he also spoke very positively about Malta, as a country located at the front of blockchain technologies.

The launch of the project was attended by the Prime Minister of Malta Joseph Muscat, Secretary of the Parliament for Digital Innovation and Finance Silvio Schembri, and the head of the Maltese Financial Services Department Joseph Kushiri.

“This ICCO will become one of the largest investment opportunities in the world of the blockchain. Institutional investors understand all the advantages of investing in the cryptocurrency industry, but the lack of regulation discourages them. The decision of Palladium will change this and allow users to use their accounts to manage cryptocurrency and fiat assets in full compliance with regulatory requirements, ‘says Paolo Catalano.

The goal of this particular ICCO is to collect financing of $ 150 million. The official campaign is scheduled for the period from July 25 to September 30, and the prescription of tokens began on Tuesday, July 10.

‘Our cooperation will lead to a new trading platform based on blockbuster technology, and users of this site will have access to many tokens available at Bittrex,’ said Bill Shihara, CEO of Bittrex.

Malta had adopted the new legislative acts governing the cryptocurrency industry only last week. Silvio Schembri noted back then that Malta had become one of the first countries with such official regulation.

No doubt, during the next months we are about to witness if this recent approach would be appreciated by any other countries which try to apply the ICO regulation rules or other legislative measures within their territory.

ICO Smart-contracts vulnerability

Initial Coin Offering Models of fundraising still have a lot of loops which makes the money fraud and steal quite often and large-scaled.

According to the latest security researchers made by Positive last year as stated by the Bleeping Computer an average number of vulnerabilities in ICOs stands at number of 5.

The results had shown the very negative trends and outcomes. According to researchers, only one draft of the original offer of coins did not contain bugs.

The study found that 71% of the projects contained vulnerabilities in smart contracts. Among the common problems, analysts pointed out the inconsistency with the ERC-20 standard, the incorrect generation of random numbers and other significant shortcomings.

Experts said that such vulnerabilities appear due to lack of proper qualification of programmers and insufficient testing of the source code.

Most of the security breaches analysts found in ICO-projects to develop mobile applications. Among the common vulnerabilities were named the following: unsafe data transmission, unreliable storage of user data in phone backups and disclosure of the session identifier.

Some vulnerabilities in web applications were aimed at attacking investor funds. For example, because of a lack of proper security, hackers could register a domain similar to ICO, create phishing sites, thereby deceiving investors.

According to the research, every third project contained vulnerabilities that allowed hackers to access data and savings of companies-organizers. Analysts also noted that many initiators of ICO did not use two-factor authentication for important accounts.

https://www.bleepingcomputer.com/news/security/researchers-last-year-s-icos-had-five-security-vulnerabilities-on-average/

Speaking about the background of the this research and former industry vulnerability issues, other things should also be remembered.

Currently, there are hundreds of thousands of smart contracts in the Ethereum blockchain that manage wallets, tokens, applications or are used to store funds. A group of some British researchers alone was able to identify 34,200 vulnerable smart contracts according to the Motherboard data.

An assistant professor from University College London Ilya Sergey and his colleagues conducted a large-scale study to detect all possible vulnerabilities of smart contracts on the Ethereum blockchain. To do this, they downloaded the Ethereum, in effect creating its fork for personal use, and began to launch a variety of scenarios, trying to achieve undesirable consequences. When these consequences came, they marked a smart contract “with a tracked vulnerability.”

Having analyzed about a million smart contracts in this way, the researchers found that 34,200 of them contained critical vulnerabilities. They tested their assumptions on 3,000 smart contracts, and in 89% of cases, they caused the most undesirable consequences. In theory, this could allow them to steal $ 6 million in Ethereum.

According to experts, early detection of vulnerabilities prevents
possible negative consequences. So, for example, in November 2017, a user under the pseudonym DevOps19 found a vulnerability in the code of the Ethereum-purity library Parity and accidentally blocked $ 150 million.

“We are working with applications that have two very unpleasant features: they are used to manage your money and can not be fixed,” Ilya explained.

Attempts to find the creators of vulnerable, smart contracts were in vain. However, since researchers do not say which vulnerabilities were found in smart contracts, they can be considered as safe.
“If someone wants to take advantage of our idea, he, at least, will have to do as much work as we did,” the researcher summed up.
Recall, in January, the Cisco unit detected many vulnerabilities in the Ethereum-client Parity. First of all, it was about the creation of operating code, the incorrect operation of which could lead to a large-scale DoS-attack on its supporting nodes. Moreover, some “loopholes” in the purse software allowed access to private information.

A few days later, representatives of Parity Technologies said that the vulnerabilities were corrected in new versions of the software Ethereum-client.

As we see, the ICO suffers from numerous vulnerabilities, and the further develops the market the points of hacker intrusion also appears.

Read the similar material about how to ensure safety from Ddos-attacks in our official blog

https://blog.merklion.com/all/how-to-ensure-security-from-ddos-attacks/

The Artificial Intelligence development trends

The world transforms every day with fastening pace, and the digital age is so fast-coming that most of corporation and fintech organizations sometimes do not even realize how to implement the more and more developing technologies. That goes double for blockchain industry. The fusion of AI and blockchain tech in the nearest future will give a lot of useful results. The most known advances so far include the development within the rising blockchain industry.

Artificial Intelligence market goes decentralized

No doubt that Decentralized Artificial Intelligence is coming the big time this year with the advent of decentralized platforms. As the traditional existing AI market had become controlled by corporate tech giants like Google, IBM, and Microsoft, all of which offer cloud-based AI solutions and APIs, the model assumes little control of the users over the AI products. This major flaw, in the long run, shows that a currently existing centralized model leads to the monopolization of the AI market.
The main cons of this are unfair pricing, a lack of transparency, interoperability and limited participation of smaller, but progressive, rival companies in bringing AI innovations to this day.

Today we see the fast emergence of a decentralized AI market, born at the intersection of the blockchain, on-device AI, and edge computing/IoT-tech. The continued AI market-trend is the development of decentralized networks built on the blockchain.

Best current examples of existing platforms that should be outlined are Maxtrix AI and SingularityNet projects.

In the long run, decentralized solutions can produce the radical democratization of the AI market, optimization of solutions for a wide variety of use cases, easy integration and communication between different algorithms through a single protocol and the development of interoperability standards, which will ultimately lead us to the era of AGI (artificial general intelligence). Here the most promising pioneers should be outlined.

The MATRIX intelligent Blockchain is a game changer in its sector. The platform differentiates itself from previous Blockchains by offering breakthrough technologies in building AI-enabled autonomous and self-optimizing Blockchain networks, which feature multi-chain collaborations and decoupling of data and control blocks.

As a result of the extreme congestion on both the Bitcoin and Ethereum Networks, ICO investors or contributors have faced significant challenges with cryptocurrency transfers which cause substantial hitches in trade transactions. The MATRIX Blockchain, via a unique dynamic hierarchy generation mechanism, enables the delivery of a superior transaction speed with the goal being to outperform the VISA system and deliver a remarkable throughput of 1 million transactions/second.

MATRIX also aims to reduce cases of cryptocurrency fraud and theft with reports of such incidences increasing over the past few months. The MATRIX Blockchain also offers ease-of-use to the Blockchain community, allowing a user base which is 3500 times bigger than that of Ethereum to design smart contracts without having programming expertise. With the MATRIX Blockchain, smart contracts are easily implemented with natural language, and it offers a flexibility that is welcome to Blockchain technology and by the crypto community. MATRIX provides the higher flexibility that affords the dynamic adjustment of parameters as required to adjust to the ever-changing and improving cryptocurrency market needs.

With most Blockchain projects having to deal with the hard fork community splitting and digital asset devaluation challenge, MATRIX offers evolutionary parameter optimization without triggering hard fork while also providing the intelligent integration of public and private chains with AI-based coordination.

The SingularityNET projects, in its turn, seeks to dodge the monopoly of tech giants over AI by allowing any company or researcher to monetize their AI solutions and get access to a variety of AI algorithms. The concept of AI merged with the blockchain is an extremely useful idea. For now, Hanson Robotics and its partners are still seemingly in the early stages of development.

Smart data search and AI-driven marketing

An issue of slow and inefficient data search is still at large in major IT-companies. Nowadays, proper data collection is a serious task in the world at large. First of all, companies that need the data are almost never sure about the quality of it. Besides, consumers do not know which companies use their data and what purposed is it used for. Right here, the AI-blockchain based project also steps in. The Apex platform, for example, aims to create a decentralized data platform based on Neo where companies can get high-quality, and up-to-date checked data while consumers benefit from the use of their data.

Here, the AI-based programs come to place. With Apex, users will be able to control which companies get access to collect and to use their data in future. Before a company uses the collected data, a notification is sent to the user which may contain additional links or marketing tools. Opening a link, users have the chance to earn other rewards, and companies can use targeted marketing, while not spending extra money.
In addition to Nexus and IQ, this platform will also use the PRISM (real-time data collection infrastructure), and the company already has clients among large brands like Maserati and BMW.
The Nucleus Vision promises to take data-driven marketing to the new level. The project was founded at Harvard University in 2014.
It is known, that the current data collected by the retailer (and other industries) very often have significant errors, which means that this data cannot be used to optimize the customer’s purchases. The main feature of the project is a unique AI-driven technology of IoT sensors designed for the stable operation that does not depend on RFID, WiFi, Bluetooth and other high-tech solutions and systems, which are currently used for face recognition.

Nucleus Vision is based on blockchain to preserve complete security and privacy of users ’ personal data. The innovation AI-system determines the range of interests of the client, accumulating data on his preferences and behavior in the shopping center or mall. Taking into account all these data, the client can be offered certain goods on the basis of his personal preferences. Nucleus Vision system already operates in 10 major shopping centers.

According to the creators of the platform, today offline retailers are unlikely to provide personal price, and other offers for their customers-they simply do not have opportunities for differentiation. Nucleus Vision also offers a differentiated approach to each client. Buyers will receive nCash tokens for each visit to stores equipped with Nucleus Vision system.

The blockchain-fueled future of the AI- research projects

These are only a few examples of what’s coming in the nearest future. The upcoming merge of blockchain technologies and Artificial Intelligence will see many existing areas revolutionized. The blockchain and AI will continue to disrupt the financial services industry. Future AI development and tech will focus on cognitive use in the data collection, sales, marketing, investments, the wealth management and compliance sectors of the financial services industry.

Hottest Blockchain News Weekly # 2

Tomorrow is a brand new day. That goes double for the crypto world as the dynamic industry of the blockchain-bases projects and cryptocurrencies are always full of exciting news, events, and occasions. We provide you with the most recent and inspiring stories of the outgoing week.

1)Youngest Crypto Billionaire goes for McDonald’s

The 34 year-old co-founder of the Bitmex exchange and Oxford graduate Ben Delo is recognized as the youngest British billionaire who has succeeded on his own, reports The Daily Mail.

According to Ben Delo himself, sincle 2014 he worked on his startup hard for 18 hours a day. He also said that at the initial stage the company had little money, so he rented accommodation on the online site Airbnb. At present, BitMEX is one of the largest cryptographic platforms in the world with a daily trading volume of about $ 2 billion.
As the newspaper writes, now the youngest crypto-billionaire of Great Britain lives with his wife in Hong Kong. Ben Delo said that he promotes a modest lifestyle and prefers to donate his money to charitable organizations.

Bitcoin-billionaire and his wife, according to the publication, use vouchers to buy food in McDonald’s and have only three pairs of shoes.
Note that there are at least 35 bitcoins-billionaires around the world, although, according to the publication of BitInfoCharts, this number can reach 200 people.

2) Crypto money laundering is still at large

It is reported that over the first six months of 2018 with the help of crypto-currency, $ 761 million.

During the first six months of 2018, fraudsters cleared $ 761 million in cash generated through illegal activities. The American company published such data on cybersecurity CipherTrace, writes American Banker.
As CEO of CipherTrace Dave Jevans said, the world trend of money laundering using crypto-currency sharply increased this year. According to his forecasts, by the end of 2018, the amount of funds “hidden” in this way will grow to $ 1.5 billion.
For comparison, for the entire year of 2017 criminals, to conceal their illegal incomes laundered $ 266 million – three times less than in the first half of 2018.
In the fight against this unfavorable trend, the company created an anti-wash platform CipherTrace AML, which is based on artificial intelligence. To identify potential sources of money laundering, the system uses advanced analysis methods and public cloud services.

The technology developed by CipherTrace offers a visual interface showing traces of financial flows and attributive information about the current currency location, including the country and the exchanges used. According to Dzhevans, these flows can also help determine the possible origin of the transaction from the darknet.
In June, the tax authorities of the United States, Australia, Canada, the Netherlands and the United Kingdom joined forces to fight tax crimes and money laundering using cryptocurrency.

Recall, in April, Europol detained 11 people who developed a scheme for money laundering through crypto-currencies.

3) ICO Hypetrain goes hot – more than $14 Billion gathered

According to the report of the joint study by PwC and the Crypto Valley association, in the first five months of 2018 with the initial placement of coins (ICO), 537 start-ups managed to raise $ 13.7 billion. This included projects such as Telegram and EOS, which collected 1.7 and 4.1 billion dollars, respectively.
Last year, 552 ICO-projects collected a total of 7 billion dollars. Even if you do not take into account Telegram and EOS, this year ICO has already raised about $ 8 billion.
According to Daniel Diemers, head of PwC Strategy, “after the ICO boom in 2017, now more attention is paid to improving business and legal practices, investor relations and attracting financing.”
The report notes that the success of ICO projects in 2018 is primarily due to the involvement of hybrid companies that allow start-ups to raise funds after receiving venture financing publicly. Such ICOs prefer to collect from 100 000 to 1 million dollars from venture investors and only then to open the presale to the general public.

This year in the UK there was almost as much ICO as in the US, and given the number of planned companies, the UK is in the lead. Regarding the number of funds raised (about half a billion dollars), Swiss projects have almost equaled that of Great Britain, and Lithuanian and Estonian projects have collected the same amount in aggregate.

Against the background of the Telegram and EOS companies, the Cayman Islands and the Virgin Islands rose in the rating, followed immediately by Singapore, which far exceeds other Asian countries.

Despite the active competition among European projects, as well as the favorable attitude of the French Ministry of Finance to the cryptocurrency area, France did not fall under this rating.

The latest in the ranking in Hong Kong, which is likely to be influenced by Chinese bans, despite being technically a separate jurisdiction.

Of the top 20 most substantial ICO funds as of November 2017, 65% have either submitted their product or are close to it, 20% have severe problems in the process of selling the product, 10% have no product, 5% have abandoned their plans.

Key findings:

Starting in 2013, 3,470 ICOs were conducted. Even though many stopped or ceased to exist, 30% were still able to complete the procedure successfully;
The leading place for the ICO is the USA. In the first five months of 2018, 56 projects were able to raise $ 1.1 billion;

Switzerland is the recognized capital of the ICO, but in 2018 Britain broke out in the first place regarding volume and quantity.

ICO is gaining momentum and is becoming a real alternative to financing, as technology start-ups around the world continue to raise funds through the ICO bypassing banks and other intermediaries. However, ICOs are increasingly beginning to register with the US Securities and Exchange Commission.

4) Bleeping Computer: new virus software can monitor 2.3 million BTC addresses

The CryptoCurrency Clipboard Hijackers virus can monitor 2.3 million cryptocurrency addresses and change them to other wallets, Bleeping Computer reports.
Malware is detected as part of the All-Radio 4.27 Portable package. Last week, hackers forged the program and gave out an infected version for the original.
With the activation of the package, the malware begins to run unnoticed for users in the background. So, after installation in the Temp folder on Windows, a DLL file named “d3dx11_31.dll” is downloaded. When the user reboots the computer, an autorun program is created that opens this DLL file. The DLL file is executed using the command “rundll32 C: \ Users \ [user-name] \ AppData \ Local \ Temp \ d3dx11_31.dll, includes_func_runnded”.

The virus then looks for BTC addresses in the Windows clipboard. If you copy the address without checking the transfer, then the cryptocurrency will fall on the purse of scammers.

As the newspaper writes, the best way to protect yourself against such viruses is to double-check the copied cryptocurrency addresses and use anti-virus programs.
Note CryptoCurrency Clipboard Hijackers is a unique virus due to the number of addresses that are monitored. Earlier, Bleeping Computer detected malicious programs that tracked more than 600,000 addresses.
During the first quarter of 2018, McAfee Labs discovered over 2.9 million malicious programs for the hidden cryptocurrency mining.

5) Canada blockchained: 5% of Ontario inhabitants hold cryptocurrency assets.

About half a million (5%) of the inhabitants of the Canadian province of Ontario are owners of bitcoin or other crypto-active assets. These are the results of a study conducted in the most densely populated area of Canada by the Department of Investments of the Securities Commission of the region, writes CCN.

Most often, interest in the industry of crypto-currencies is shown by men aged 18 to 34 years. About half of them spent less than $ 1 thousand to buy cryptocurrency, 90% spent less than $ 10 thousand. 9% of investors (almost 50 thousand people) invested more than $ 10 thousand in crypto-active assets.

“The survey results show that the vast majority of Ontarians look at crypto-active with caution. Only a small percentage owns them, and most often they do not spend significant amounts of money to purchase them, ‘the document says.
A significant portion of the investment was made from existing savings. Some also borrowed money or used credit cards, of which more than two thirds fully repaid loans.

The survey also revealed that about 1.5% (about 170 thousand) of Ontario residents took part in the initial deployment of tokens (ICO). Information about them investors received via e-mail, from online advertising, from friends and relatives, and through social networks.

About 46% of respondents indicated that they acquired their assets on trading platforms, while 28% minted them. About 19% used for crypto-cash ATMs and 18% received them for free, for example, via airdrop. Another 18% received crypto-currencies as payment for goods or services, and 16% – during the ICO.
To acquire crypto-agents, Ontario residents used to use trading platforms in the USA (48% of respondents), about 32% used trading platforms based in Canada. Platforms based in the UK and Hong Kong are also popular.

The poll also showed that the inhabitants of the province have an idea of ​​the crypto-currencies, but they can not explain the principles of the technology operation. Most residents of Ontario know about bitcoin – 81% say they knew about it. About Bitcoin, Сash heard only a quarter (25%) of the respondents. The number of those who knew about Litecoin was 13%, and only 11% of the respondents know about the second most popular cryptocurrency of Ethereum.

Recall, previously the state-owned energy company Hydro Quebec presented to the authorities of the Canadian province of Quebec a plan that will determine the procedure for working with local ministers cryptocurrency.

Music Industry Blockchained

The “blockchainization” marches victoriously throughout the world, and there seems to be no shortage of industries that the blockchain can disrupt or improve. Modern music companies are sure to hate the streaming services. Those, in turn, do not like the data storages, and the artists and content creators dislike nearly everyone for making huge profits on their work and not giving them a fair cut.

The blockchain is right the long-term awaited tool that can make the difference. With so many past and present conflicts of interest, it seemed that no service or business model would be able to organize everything correctly so that everyone will be satisfied.

The recent advanced in blockchain technology development and implementation had shown the right direction for the investors and tech specialists from different areas to go hand in hand with the demand of the musical industry.

As it is known, the blockchain technology is backed by the distributed ledger which can check up and verify transaction without having to authorize any central node.
To make a long story short – the registry has no owner – it is distributed among all the nodes making up the network, and is accessible to everyone.

Information that is stored in the registry passes through a so-called cryptographic hashing algorithm, which makes it virtually irreversible and protects against unauthorized access. This means that users can exchange data, money, and anything valuable in any amount safely and secretly.

How exactly can the blockchain be applied to the music industry?

With the help of the blockchain, one could transform the processes of publication, monetization, and the relationship of artists with the fan communities.
Like in many other fields of work and industries, the advantage of blockchain usage is the ability to simplify the relationship between creators and consumers.
First of all, music could be published in the registry with a unique identifier and timestamp so that it will make the further changes impossible. This will help to solve a long-standing problem of digital content – downloading, copying and arbitrary modification. Each audio recording can store metadata about the owner and copyrights so that everyone can see it and check it. Thus, the fee for the use of content will be received by its creator only.

Moreover, this technology can bring about a revolution in the field of music monetization. At the heart of the infrastructure are the smart-contracts – programs that can be launched through the block system along with the payment procedure. Crypto-cash loans, such as Bitcoin and Ethereum, support micropayments, which is not feasible in traditional payment services because of the cost of transferring money. This way a new kind of music services can appear on demand. Users will be able to select songs and immediately transfer money to copyright holders while listening.

Finally, another advantage of the register in the blockchain is the ability to simplify the relationship between creators and consumers. Composers and artists will no longer need to purchase platforms and attract brokers, who often take a large part of their earnings. Musicians will be able to receive compensation directly from each listening song. This is especially useful to amateur musicians who do not have the support of major record labels.

ke any other solution to the problems of the music industry, the blockchain has its weak sides.

For example, last year, the singer and songwriter Imogen Hip began work on a new music system called Mycelia. A platform that works on the basis of a blockchain will support direct payments to artists and will allow them to control better how their songs get to listeners and other musicians. The singer describes her idea as “an attempt to transfer power from the top down and allow artists to manage their future independently.”

So, is it possible to solve all problems with the help of a blockchain tech?

Like any other solution to the problems of the music industry, the blockade is not without its shortcomings. However, he can, at least, equalize the rules of the game for all parties. It will bring the most benefit to artists, authors, performers, and musicians – the real trendsetters in the industry – because now they will finally be able to own their own works and receive for their work on merit.

At the same time, such changes will not appeal to those who benefit from a lack of transparency in the music industry, as well as significant technology companies that prefer to create monopolies of market openness. If the idea of ​​using a detachment really does develop, then conflicts are unlikely to be avoided.

How to catch the Bitcoin whale – fraud schemes explained.

In the crypto world, Bitcoin-whales are considered to be the people who have thousands of precious coins on their wallets. As it turns out, there are not so much of them.

Quite recently, Chainalysis “scanned” the entire network of the first cryptocurrency and found that only 1600 accounts contain more than 1000 BTC. Probably, several of them belong to Satoshi Nakamoto, which everyone knows about, but nobody has a clue about his personality.

Nevertheless, many people who bought Bitcoin many years ago for tech experiments or just for fun had become very rich last year due to cryptomarkets rising – a lot of multimillionaires and even billionaires had appeared suddenly. Even some of them managed to get to the Forbes list, this kind of people mostly tend to stay in the shadows.

Not all of them are active participants of the community or businessmen. Of course, some of them just withdrew some money for classical entrepreneurship, luxury goods, travel and other things that can be bought for cash.

However, when you trade 30, 50 or even 100 BTC, you are not concerned with security and legality from the law are your problems, and when you need to exchange 1000-5000 BTC, it becomes the problem of governmental and regulatory authorities.

No wonder that real criminals – drug lords or terrorists have their own established channels of financing and money laundering, and lawyers have their own methods of destroying such channels.

Let’s imagine that you’re the good guy here and you need to deduce a tremendous amount of money of a 4000 BTC for example. Even considering the bearish lawlessness in the market, it is more than $ 25 million at the current exchange rate. Do you start thinking if it is possible to arrange everything in offshore zones? And of course – how and where to find such a buyer?

In 2015, sophisticated fraudsters took care that the answer to the main question had become the following. We call it a conditional harpoon cannon because of this time attackers aimed at single whales, not organizations like exchanges or e-wallets.
At first, scammers throw their networks into the necessary information flows, which are used by community members. The story they tell always has same contours and diverges only in non-essential details.

A particular person “with great experience in concluding international crypto-currency transactions” has a “large buyer” who is ready to buy 10 000 – 20 000 BTC at a price of -5 % shall we say of the Bitfinex price. And the task of an “experienced intermediary” is to find a seller or sellers. Then they will be invited to meet in such cities as Vienna or Zurich to make the necessary transfers of tete-a-tete. Besides, to scale this scheme, intermediaries attract other intermediaries, promising the recent commission, which gives the system a pyramidal character.

The most known and rich cities often are used for such crime schemes.

One might think that the most bitcoins-whales are intelligent people and will feel wrong, but scammers are incredibly persuasive, focusing on details and nuances, demonstrating imaginary professionalism. And what can happen to a man in a wonderful Switzerland, a country of bank secrecy, luxury, and security? It is the names of cities that create the so-called luxury effect so that the story of a large buyer seemed believable.

The overall scheme is quite simple: the sophisticated fraudsters could arrange a change of suitcases with cash or any other virtuoso trick to convince the seller that he received money without actually receiving anything – not even weapon threatening is required.

There are also thoughtful raids of European law enforcement agencies, which take the issue of money laundering and violation of tax legislation very seriously. Even in Switzerland, where bank secrecy is akin to the biblical commandment, the transfer of a suitcase or sports bags with a massive pile of cash will cause suspicion.

All members of the community should remember that the Bitcoin-industry has attracted the attention of not only hackers, talented crackers of digital systems, but also good old thieves from the area of classical crime. They can come up with dozens of methods for identifying and robbing whales, but the latter should always be a step ahead, and certainly not to be fooled by such infamous schemes.

Hottest Blockchain Week News #1

1) Facebook is open for crypto advertising again

The world’s largest social network and media giant Facebook announced the revision of the total ban on advertising crypto-currencies. So, previously approved advertisers will be able to post content about crypto-currencies and related topics, except ICO. The news had been announced on Tuesday, June 26.
To obtain permission to publish advertising products and services in the field of cryptocurrency, advertisers must provide Facebook with data on licenses, listing on stock exchanges and any important public information about their business.
Facebook will make decisions based on the data received from advertisers; however, as already warned in the organization, not everyone will be tested.
The company promised to listen to the community’s opinion, learn technology and review the rules if necessary.
A recall is regarded, earlier Facebook banned advertising ICO ads and cryptocurrency, including the Bitcoin.

2) Bithumb Exchange hacked

After just over a week after breaking into the South Korean trading platform Coinrail, the crypto-exchange community shocked the news of the hacker attack on Bithumb. As a result of the hacking of this much larger stock exchange, crypto-investors lost a total of 35 billion South Korean won (about $ 31 million).
However, the management of the exchange Bithumb managed to move part of the digital assets to a cold wallet and promised to reimburse investors funds soon. Payments will be made from the fund’s own stock exchange, which holds about $ 450 million.
Against the backdrop of this wretched event, the government of South Korea announced a tightening of the regulation of the crypto-currency industry and acceleration of the implementation of the new regulatory framework.
“If the bill of the deputy from the Democratic Party of Korea, Zhe Yong-gyun, is adopted, the authorities will be able to introduce rules for crypto-exchange exchanges that are identical to those for commercial banks,” the representative of the Financial Intelligence Unit of the country (KFIU) said.
It is expected that with the participation of KFIU and the Financial Services Commission (FSC), security and the infrastructure of the crypto-currency market will be strengthened. In this case, exchanges will be obliged to work in compliance with the safety standards that apply to financial institutions.

3) John Mcafee is back to life

Unknown attackers poisoned the famous crypto enthusiast, media person and founder of MGT Capital Investments John McAfee. He was unconscious for two days but woke up on June 22, which he immediately told his subscribers on Twitter.

“I apologize for my three-day absence, but I was unconscious for two days at the Vidant Medical Center in North Carolina and just woke up. My enemies managed to spike something that I ingested. However, I am more difficult to kill than anyone can imagine. I am back.” – McCafee said.

Besides, the crypto-enthusiast has left a rather ominous message for the attackers themselves.

“And for those who did this – You will soon understand the true meaning of wrath. I know exactly who you are. You had better be gone. – He replied.
Attackers poisoned the famous crypto enthusiast and founder of MGT Capital Investments John McAfee. He was unconscious for two days but woke up on June 22, which he told his subscribers on Twitter.”

Earlier, Roger Thomas Clark, known under the pseudonym Variety Jones or simply VJ, was extradited from Thailand to the US, where he would stand trial for alleged complicity in the illegal activities of the DarkNet marketplace Silk Road.

It is believed that it was VJ that prompted Ross Ulbricht to order the murder of Curtis Green, the Silk Road administrator of the Silk Road, caught by the FBI.

The Dangers of Darknet

Numerous articles had been written on how the blockchain will change the world to better and why cryptocurrency assets are the future of the financial industry.

However, while admiring the current and future benefits of usage, the digital money also has the other side with its malicious nature. The fraudsters, hackers and different criminals use the topcoints and altcoins for different activities forbidden by the law. So, the common public knowledge is often influenced by the unfavorable market situations and overall despair against cryptocurrency are getting worse.

Quite often media highlights the dark side of the crypto world and make the public opinion regarding cryptocurrencies look like facilitating criminal activity. Actually no wonder that being the top coins at the moment Bitcoin, Ethereum, Monero, and a few other assets are the weapon of choice for the digital fraudsters and cybercriminals during these years of crypto market fever. Of course, the governmental bodies and special commissions are up for changing that as they present more and more strict regulation measures and laws, but the current situation will not change in the nearest future.

Going on with the explanation, there are a quite a few reasons why cryptocurrencies are so attractive to the fraudsters these days. No real names are being used, and the wallet address is convenient for hiding your real identity, which makes the personality disclosure a hard challenge.

Next thing is the volume of transactions. The global worldwide networks take a lot a massive load due to everyday growing number of transactions, and that makes the finding of the fraud schemes a tough challenge.

Even considering the popularity of cryptocurrencies, the so-called Darknet existence is still bad news for the many crypto enthusiasts of this industry as not many newcomers are aware about the crypto realm shadow side. But the highlights are often come to this area, as the cryptomarket rise thieves the activity.
The main points that drive the fraudsters methods popularity are the anonymity and privacy.

Due to the latest researches, over the 95% of illicit activity on the different darknet nowadays had been produced using the Bitcoin. This is of course due to the most popular asset popularity, liquidity and value.

However, the Silk Road has shown the world how the darknet and cryptocurrency can come together in meaningful ways. Perhaps people can remain convinced this was a positive development in general, and the public opinion looks very different these days.

The Darknet itself is a place, mainly speaking, where one can get any items strictly prohibited by the law and get away with it after.

The main points of user interest include such things as illegal drugs acquisition, black market guns trade, fake documents and IDs of any kinds, all sorts of explosives, secret files disclosure, porn content of all types, going on with the nasty stuff like that from there.

No wonder that the Bitcoin is the most liquid instrument for this kind of activities, and it will likely remain for some time.

Speaking about official statistics, it is known that 2016 had almost 14,000 cases related to the drug and other illegal substances. Therefore, over 1,400 people engaged in this type of activity until police officials around the world actively began arresting vendors and buyers globally. It is estimated in 2016 more than $1.3 billion of the worth of profits for drug sellers embracing cryptocurrencies was the actual number. Considering the crypto market popularity rises, no wonder that the official date of 2017 could present much more embarrassing and shocking data.

One thing is sure that the shutting down of such darknet marketplaces cannot change the situation significantly as the new platforms will arise pretty much soon. Same as with Hydra – you cut one head, the more appears. Much more drastic measure is to be taken by the world governments to change the situation and make the widespread more closed and the acquisition of dangerous prohibited items – even more complicated.

Biochips developments & implementation, blockchain innovations influence on emerging market.

The biochips or microchips become more and more accepted by the companies as by the ordinary people. The cyber technologies had come and are already implied in our daily life. What seemed to be risky, insecure and futuristic just a few decades ago had become a reality we live in now. No doubt that the gap between human body and progressive cyber technology is closing, the edges become smudged. An idea of setting a microchip in one’s body is not that scary anymore, people see more practical benefits they can obtain from the technological advancements and how can it make their lives more convenient.

The biochips potential is limitless in theory as the new developments arise quite often. The specific areas which can change the daily routine should be therefore outlined: the possibility of opening any lock by touch; the driver license and passport replacement; the universal discount card creation; making E-Wallet tethered to bank cards; patient record + insurance certificate; oAuth for any online service (log-in via biochip); Internet of Things and Smart Home setup; the universal ticket for many kinds of transport; anti-theft protection for smartphones, laptops, or other devices and so on.

The worldwide implementation

There are already steps taken which lead us into the future of augmented reality. Sweden is now known as one of the first European countries to implement the biochips technologies. For example, the Stockholm’s Epicenter co-working space had started offering the microchipping process free of charge to all of its 2,000 members in 2017: the owner of those chips can operate office equipment and open doors without requiring authentication. The Epicenter staff received microchip through a syringe, and no surgery was needed. One thing working in favor of this microchipping process is how it provides unprecedented convenience. Moreover, this eliminates the need for keys, cards, or any other type of extra authentication model.

These NFC-chips had also been used in Sweden to revolutionize the railway system as people know it today. That particular trial involved around 1,500 test subjects in summer 2017 – every tester had an NFC chip embedded under their skin. With a chip, it was the first time the technology was used for public transportation purposes, but so far the experiment appears to be quite successful anyway.

Once implanted, the user will need to link it to their railway account. As the process is completed, they can fund their account and use the money to pay for train tickets accordingly. It is quite a revolutionary system, which can make public transportation a lot more convenient for the everyday person, at least in Europe.

Moreover, by using these NFC chips, travelers can be identified across different stops along the route. Functionality is a major plus as well. In some places, they can open office doors and ensure they receive their office printing jobs right away. It is evident Sweden is looking to automate a lot of aspects of daily life by using these NFC chips. Not too long ago, a local startup started embedding similar chips into employees’ hands.

Other countries across Europe are not too keen on NFC technology just yet. Although NFC-payments are becoming more common, very few organizations are exploring this technology for public transportation or other services. It is evident there is still a lot of research and development to be done when it comes to this technology. The experiments like this will provide some valuable insights regarding how this technology can be used to improve our daily lives in the nearest future.

Potential risks of usage

Implanting NFC chips in the human body remains an exciting but often contested concept. Many people support the idea that NFC chips represent clear danger and should not be allowed worldwide, whereas others feel it must be an integral part of the future of our society. It is unclear if there are any long-term side-effects associated with implanting an NFC chip into one’s body. It is indeed possible this can be harmful, but for now, that has not been officially proven.

All of the microchips use NFC technology to communicate with other technology in the vicinity. All implants are entirely passive, which means they cannot read information themselves.

The problem is, any other type of electronic device interfacing with the chip can extract information from it without serious problems and that leaves the huge backdoor wide open for hackers to take advantage of these embedded microchips, although no such attack has been recorded to date.

RFID-chips in today’s life

Back in 2017, multiple European companies experimented with the idea of implanting microchips in their employees. This trend was not overly popular in the United States though – that situation changed when Three Square Market unveiled plans to implant RFID microchips in employees’ hands.

The partnership between Three Square Market and BioHax focused on “equipping” 32M employees with bio-friendly RFID microchips. These chips can be used to pay for food near one of the multiple break room food dispensers. No doubt that was mostly a marketing stunt rather than a practical thing. Anyway, that made the Wisconsin-based company the first U.S. enterprise to implant RFID microchips. Moreover, all of these RFID implants had been provided to 32M employees free of charge. There is no requirement to have these chips implanted, and it is entirely voluntary.

Anyway, being able to buy food and coffee by waving one’s hand is not something most consumers on the street would necessarily show an interest in. However, our society is gravitating towards an era where digital and contactless payments start to gain traction. Using RFID implants could take advance of this, but most people feel uncomfortable when it comes to body modifications. This fact is very actual for the U.S., where biohacking is somewhat unpopular.

Three Square Market hopes that their initiative will convince other U.S. businesses to take a similar approach toward RFID implants for employees. There is a secure connection between these implants and contactless payment cards. Both devices use the same NFC communication protocol to transmit payment information. However, the main difference is that one’s RFID implant cannot be forgotten, as it is implanted underneath the skin between thumb and forefinger. It is possible some employees may experience adverse body reactions to this implant, but everything is done to minimize the impact as much as possible.

Jun 25   2018   Biochips   Blockchain   Future   Start-ups

Wrong ideas about cryptocurrency

The cryptocurrency market at the moment may seem not as lucrative as it had been at the end of the last year as well as overall excitement about them. The hypetrains may have stopped worldwide, but that doesn’t mean that the game is close to over.
Despite the market fluctuations from time to time, there is no doubt that the real benefits are still in the future and we will see the best of it.

At the moment, the world had seen as much as more than 1650 different issued cryptocurrencies. As the attention to the numerous cryptocurrencies rises, also increase in the numbers of misconceptions which surrounds the top coins and other projects. No doubt, the main known issues with this should be discussed.

1)Government Regulations can surely deal with it

Many enthusiasts and even people in business have the false insurance that the crypto assets could be appropriately managed by the government. In fact, even some official governmental bodies in different countries may have this false thought. But, by the default, the initial idea of digital money of the new era is the absence of any regulations.

The Companies providing different solutions are subject to existing guidelines which apply to other financial service providers as well. So, the money flow in the crypto world is not controlled by any central authority, nor will it ever be. That was the initial idea.

2)Purchase of the coins

For now, most people who buy for the first time think that they need to buy the whole particular asset coin.

Considering the current cost of the top digital currencies – most enthusiasts do not consider buying the substantial amounts – even though it makes decent sense for most people to buy one full Bitcoin, Ethereum or a Litecoin. For those who want to invest a very marginal amount of money into cryptocurrency, every coin can be divided using the eight digits after the decimal. So, the potential buyer can become an active cryptocurrency investor even without substantial investments.
Of course, you won’t get far buying 0,1% of altcoins – this principle is valuable to explore when dealing with low-supply coins, whereas currencies with billions of coins or tokens in circulation usually warrant the purchase of one full coin or token due to their much lower price.

3)Crypto for criminals

As the fraud level in the ICO sector and cryptocurrency markets had definitely risen to some 90% percents till the end of 2017, no doubt that the overall excitement regarding safe and lucrative investments had become questionable. It has become evident that criminals all over the world have taken a strong liking to Bitcoin and other cryptocurrencies. In most cases, the reason for doing so is entirely wrong, as Bitcoin is not anonymous, nor are most of the other currencies. There are some exceptions in this regard, as a few cryptocurrencies do focus on anonymity and privacy. In the case of Bitcoin, those traits are notoriously absent, and they will be for quite some time.

Even with anonymity and privacy, criminals are not the ones to benefit from such features the most. Everyone on this planet who enjoys having a say over their own money should cherish financial privacy and anonymity first and foremost. It is not about having something to hide, but instead about being in control of your money and it not being anyone else’s business. Criminals just want financial gain, and they will pursue any avenue possible – including cryptocurrencies, unfortunately.

4)Overpriced markets and pyramid/Ponzi schemes

With the winter’s market downfall the global interest in cryptocurrency market is not as astonishing anymore, and the overall crypto assets capitalization had declined. Whatever, but it should not be underestimated anyway. For now, any comments regarding how cryptocurrency is in a bubble can easily be ignored as well, as that is factually incorrect. There are many other financial and other bubbles to be wary of, but they do not apply to cryptocurrencies. However, the most existing Pyramid/Ponzi schemes are subjects of govermental close attention and are being dealt with the help of different international legal organization and police as they operate mostly worldwide.

5)Joke coins will not rocket

Though major five currencies are a long time, not the subjects the of jokes on the Internet since they present decent growing digital assets, the modern reality dictates the more pragmatic approach.

However, among the hundreds of currently existing digital assets, there had been numerous attempts taken by different geeks and crypto enthusiasts only to provide the so-called joke currencies, which hold a significant place in the crypto world.

Of course, there are a certain degree of coins which sole purpose of existence was the scam fundraising made by cyber pranksters, and some are hardly worth anything at all, yet they all provide a critical outlook on the hype. Their worth is mostly based on their critique of how we react to the financial world, both new and old.
With over 110 billion coins mined and a rich meme culture of its own, Dogecoin is most certainly the king of joke coins. This widely known and well-loved coin was initially designed to illustrate the volatility of the crypto space and behavior. With its first flourish in December 2013, it soon became apparent that the joke was lost on its buyers, or that crypto traders will try to make a profit on just about anything. Its subsequent crash illustrated the darker side of cryptocurrency, with memes trolling the market. Perhaps even more ominously, a thief stole millions of Dogecoin around Christmas. However, the community united and donated funds to those who had lost them.

Fast forward to 2017, and Dogecoin had climbed to a $2 billion market cap. That amount has since declined, but Dogecoin continues to unite and inform crypto enthusiasts on various issues. One of its creators, Jackson Palmer, warned against its success in a series of press articles during the bull run of 2017-2018. It seems that despite its blossoming success, the joke was momentarily lost on at least one of its founders. Dogecoin’s tremendous volatility and lingering humor place it at the top of the list.

Gambling goes blockchained

During the last couple of years, the popularity of digital currency casinos has increased considerably, given the wide variety of benefits being offered to players worldwide. Many people believe that the Bitcoin and some top coins are the perfect currency for online casinos, and recent statistics show that the market agrees with this mass opinion.

The blockchain industry victorious march is even out of the question for – the next years will undoubtedly see this prominent technology getting adopted in more and more industries. Banking area, transportation, jurisdiction, logistics, different productions, healthcare, gaming – there is potentially no shortage of sectors of current human activity where the blockchain cannot be applied for improving the existing solutions. Verifications of the highest possible level, unmatched security&safety options, smart contracts that can ensure payment transactions on the new standard.
Online gambling represents one of the first industries that went on experimenting with the use of blockchain technology, as different bitcoin casinos represent one of the most widespread use cases of cryptocurrency in its early years.

However, despite the evolution of cryptocurrencies in recent years, the overall impact on online gaming had been relatively small so far.

Anyway, despite the cryptocurrency market rapid shifts the last couple of years, the digital currency casino market has evolved and grew, given the appearance of more game types, features, bonuses, and more.

Nowadays not many even professional online game players and supporters do realize the potential benefits of cryptocurrency casinos when compared to more “traditional,” fiat-currency based online casinos.

1)The blockchain technology allows providing the games results, stats, and ratings that cannot be counterfeited. Different solutions out there in the market even before the blockchain adoption, though so far nothing is likely to provide better security and privacy in the coming years.

2) Client’s anonymity of the top level and best access options. Years before many had legitimate doubts and concerns with the personal information being shared on third-party gambling resources. And of course, this isn’t a case with crypto casinos. However, many gambling solutions are so easy-to-use that they automatically register user accounts when accessing the websites, and therefore, do not require personal information such as email, name, or real postal players address. Of course, it is a positive approach as an anonymity level like this also allows users located in countries where online gambling is under a legal ban, still access the resources and play their favorite games.

3) Unfortunately, some emerging crypto casinos currently suffer from the governmental tightening regulations as they are required to obtain licenses and apply more and more stricter rules over time.

4)The astronomically high speed of transaction execution. Before the blockchain stepped in, both the deposits and withdrawals in online gambling had never been that fast. Most popular existing casinos require transactions to have one confirmation on the blockchain network, before allowing users to wager the funds. However, the overall process can require no more than a few seconds or a couple of minutes, based on the client’s digital currency of choice. In contrast, the withdrawals are usually processed almost instantly. Users no longer have to wait for days before being able to play or withdraw their funds.

5)Lowest fees – the modern digital currency casinos had proven to have some of the most affordable dues on the existing market. Most cases show no cost associated with either deposits or withdrawals, and many new startups aim for low maximum indications to be attractive in this market and cope with numerous competitors.

The market for mobile applications and online games shows tremendous growth and an ever-increasing influx of new users over the past few years. According to 2017’s “AppAnnie 2017 Retrospective: A Monumental year for the application economy”, the overall market capitalization of mobile applications has reached $ 86 billion.

Due to the latest Newzoo insight, in 2018, the mobile games market will generate $70.3 billion – 51% of the overall global games market. However, the data from Statista reports that social casino revenue worldwide is estimated to reach $5.89 billion by 2022.

Moreover, according to Newzoo – the quarterly update of its Global Games Market Report service – the current forecast shows that 2.3 billion gamers across the globe will spend $137.9 billion on games in 2018. This represents an increase of +13.3% from the year before which was $16.2 billion.

Digital game revenues will make up 91% of the global market with a value of $125.3 billion. Mobile gaming will continue to be the largest segment following 10 years of double-digit growth since the first iPhone was launched in 2007. In total, mobile revenues will grow +25.5% year on year to reach $70.3 billion. This means that for the first time, more than half of all game revenues will come from the mobile segment.

No doubt that in fact best options for immersive player experience nowadays are provided by the most reputable companies.

Old World ICO Regulations

Initial Coin Offering regulations in the European countries differ from the ones of Northern American and Asian regions – the so-called “Old World” always has its own approach to any problem. In this article, we examine the ICO regulations in top European world countries.

Nowadays, one of the problems that many governments have with ICOs is that, technically, they represent a regulatory workaround. The problem is, that instead of seeking initial public offering businesses mostly can find low amount seed funding without the due diligence regulatory requirements, time, or fiduciary permissions as the  “traditional” IPO model would require. For a small business dealing with untested or unknown technologies, this peer-based alternative offers funding opportunities to firms otherwise ineligible for conventional funding approaches.
Of course, this approach can definitely help the ambitious enthusiasts to embody their perspective ideas. However, the last year’s reality shows that the number of fraudsters in this area of activity had risen to an unexpected level of 90% or close. Such countries as China and South Korea both claim that the possibility of scammers using ICOs to defraud investors is the primary reason they have moved to ban the creation or selling of them in their countries.

Many nations are pursuing changes to their regulatory policies to codify adherence to anti-money laundering/know your customer (AML/KYC) practices into law for ICOs and require additional oversight, such as registrations and disclosure statements.
Additionally, if the ICO relates the property transfers to fiat currencies, these ICOs, in fact, may be dealing with securities. This has implications for taxation and securities integrity.

The European Union

For now, within the European Union, overall, there has been a focus bringing ICOs in line with current legislation. The main idea of the process was in contending with them is to allow ICOs to operate within this territory, as long as they adhere to Anti-Money Laundering/Know Your Customer (AML/KYC) policies. However, like many of the nations in this category, The European Securities and Market Authority declared that they represent a substantial risk for investors.

United Kingdom

Up to latest time, the UK allows for the operation of ICOs but expects them to regulate themselves to the existing financial laws and regulations. On top of that, there have also been some issued warnings.
The Financial Conduct Authority warned that ICOs are unregulated and potentially fraudulent, while investors may be provided with “unbalanced, incomplete or misleading” documents by the ICO issuer, the Financial Times reported.

Isle of Man (UK)

The Isle of Man has indicated that it is seeking to forge regulations in the future that will establish and protect ICOs’ legal status.

Germany

One of Europe most developed countries, Germany is another one that has not yet set out direct regulation of ICOs, but they expect any new Coin Offering to adhere to the existing legislation, including the Banking Act, Investment Act, Securities Trading Act, Payment Services Supervision Act, and Prospectus Acts. They have also gone as far as to issue a warning however that there are risks in ICOs.

Moreover, there had been an official statement issued which stated: “Due to the lack of legal requirements and transparency rules, consumers are left on their own when it comes to verifying the identity, reputability, and credit standing of the token provider and understanding and assessing the investment on offer. It can also not be guaranteed that personal data will be protected in accordance with German standards”.

Estonia

For now, Estonia is currently considering starting its own ICO to raise funds. However, the Eurozone rule on nation states not having their own currencies continues to split opinions about the possibility of this happening.

Russia

The Kremlin issued five orders in October 2017, requiring altcoin miner registration and taxation, the application of securities laws to ICOs, and the use of altcoins to create a  “single payment space” in the Eurasian Economic Union to oppose the Eurozone. Russian President Vladimir Putin in May 2018 states, that “Russia will not issue its own government cryptocurrency.”

Switzerland

In one of Europe’s wealthiest countries, the recent attempts to regulate ICOs have failed, but the need to codify protections may reignite the regulation efforts. The Swiss Financial Market Supervisory Authority (FANMA) has started to examine ICOs for possible breaches of securities laws, which may be the first signs of a new wave of campaigning for regulatory oversight. Regulations are not thought, however, to be able to stop the current momentum to incorporate ICOs into Swiss culture.

Grand Theft Crypto 2018 – more than $1 Billion stolen

Not only the fraud and scam among numerous cryptocurrency ICO projects are among the worst problems of the growing industry. The good old theft is still at large though. The latest report by Cybersecurity Carbon Black indicates that during only first half of 2018, a digital currency volume stolen exceeded $ 1.1 billion.

The company notes that criminals use the opportunities of the infamous darknet for large-scale thefts of cryptocurrency. Accessible with the help of specialized software, it is mostly not monitored and allows attackers to remain anonymous. There are 12 thousand trading platforms that hackers can use.

Security expert Carbon Black Security Rick McElroy said that the price of malicious software starts from $ 1 and is an average of $ 224. Such software solutions often have even their own support service. The current volume of the malware market is about $ 6.7 million.

According to the study, the stock exchanges were the most popular target for cybercriminals this year. Attacks on them account for 27% of the total number.

The most frequent target of scammers are, no doubt, the Bitcoins – 10% of hackers attracted to it, Ethereum – 11%, and Monero cryptocurrency – 44%. The highest number of incidents related to embezzlement of crypto-currencies was recorded in the USA (24), China (10) and Great Britain (8).

The report notes that thefts of crypto-currencies can be carried out by organized criminal cartels or criminal groups. However, they are often highly skilled professionals who are looking for a source of additional income, working alone. According to MakElroy, cyber fraud is “easy to implement,” to which any, not only the notorious hacker groups are capable.

“Some whole peoples are taught programming, and who are sitting without work. It may just be a couple of people in Romania who need to pay rent, ‘the expert said.

Unlike banking and general financial transactions, cryptocurrency holders do not have institutional support to protect their savings or cover their losses in the event of fraud or hacker attacks.
‘Usually we rely on banks. The network has tools to protect, but investors need to know how to use them. Many people do not know that in this new ‘gold rush’ cloud wallets are used, and do not protect their money, ‘said the security expert.

Earlier, the head of the international conglomerate Virgin Group, Sir Richard Branson, said that attackers are increasingly exploiting his name while promoting their scam projects.

The most frequent target of scammers are Bitcoins – 10% of hackers, Ethereum – 11%, and Monero – 44%. The highest number of incidents related to embezzlement of crypto-currencies was recorded in the USA (24), China (10) and Great Britain (8).

The report notes that thefts of crypto-currencies can be carried out by organized criminal cartels or criminal groups. However, they are often highly skilled professionals who are looking for a source of additional income, working alone. According to MakElroy, cyber fraud is ‘easy to implement,’ to which any, not only the notorious hacker groups are capable.

‘There are whole peoples who are taught programming, and who are sitting without work. It may just be a couple of people in Romania who need to pay rent, ‘the expert said.
Unlike banking and routine financial transactions, cryptocurrency holders do not have institutional support to protect their savings or cover their losses in the event of fraud or hacker attacks.

‘Usually we rely on banks. The network has tools to protect, but investors need to know how to use them. Many people do not know that in this new ‘gold rush’ cloud wallets are used, and do not protect their money, ‘said the security expert.

Earlier, the head of the international conglomerate Virgin Group, Sir Richard Branson, said that attackers are increasingly exploiting his name while promoting their scam projects.

No doubt that in the nearest future this infamous trend is unlikely to change. As the industry progresses in its widespread through different industries and areas of human activity, the number of such occurences will only rise, as the amount of stolen money.

Jun 15   2018   Crypto industry   Fraud   Hacks   ICO Scams

Healthcare blockchain development

The future is much closer than most people think. Current advances in the blockchain technology developments open the new horizons in different already existing areas of human activities and create the previously incredible opportunities.

The blockchain technology, which stands behind Bitcoin and many other existing cryptocurrencies, had attracted billions of investments from some of the world’s leading corporations for its security and immutability. It is known that nearly 150 million of secure Bitcoin transactions had been successfully performed since the digital currency launched in 2009. In the modern world of today, the Bitcoin and others can be used for various purposes that include hotel and flights booking, digital products purchase, paying in cafes in restaurants and even the healthcare.

The emerging blockchain technology has the much-needed potential to transform healthcare industry, placing the patient at the center of its complex ecosystem and increasing the security, privacy, and interoperability of health data overall. With the help of it, a new model of health information systems can be built.

The ambitious goal can be achieved by making electronic medical records more transparent, efficient, correct and secure.

So far, most of the blockchain tech success is supported by the fintech startups, but it does not end up just there. The healthcare industry is undoubtedly attractive as it has a high demand for innovations in different areas. In most of the world leading-tech countries, the healthcare authorities and even always cautious with the new movements governments are equally excited about the new possibilities presented by the blockchain technology.

Still, the top industry developers have to focus their efforts on establishing the blockchain community on forging the future ecosystem standards and frameworks options for the further implementation on a large scale level across healthcare implementation areas.

With the recent improvements in genetic research and the advancement of precision medicine, the healthcare industry is witnessing an innovative approach to disease prevention and treatment that incorporates an individual patient’s genetic makeup, lifestyle, and environment. Moreover, IT advancement has produced large databases of health information, provided tools to track health data and engaged individuals more into their own healthcare problems. Combining these advancements in healthcare and information technology would lead to a significant transformative change in the health IT-field.

Truth be told, the overall excitement emerges progressively as the blockchain tech marches all over the world. Nevertheless, specific points need to be taken into account for considering how the real implementation could look in future applications.

So, what qualities and application implementation features do the blockchain specified for healthcare industry has to offer to become truly useful and demanded? We need to define the primary cases where the blockchain can be at full fit and need for use in the nearest future.

1) Personalized Health Data Exchange systems advancement

Among many options needed for crafting the technology of the future, the very first thing comes to mind is a creation of the advanced systems of data exchange.
The thing is, currently existing IT-systems of the healthcare industry are in need of the fundamental upgrade and the blockchain can undoubtedly become that very stone on which the future of these systems will stand.

With it, the specific current challenges such as health data interoperability, overall integrity, security, portable user data, and processing speed could be tackled on an entirely new level.

Speaking about the areas that are more fundamental, the blockchain could enable data exchange systems that are cryptographically secured which will allow seamless access to historical and real-time patient data – with it the cost of data reconciliation will finally be out of the question.

It is also worth mentioning the recent collaboration between Guardtime, the data-centric security company, and the Estonian eHealth Foundation to secure the health records of one million Estonian citizens using its proprietary Keyless Signature Infrastructure (KSI) – a specific successful example of blockchain technology.

Anyway, that particular case is not likely to be global so far – specific complexities around the data origin, ownership and overall governance structure for health data exchange between public and private entities lead to the difficulties created in implementing the similar blockchain model for the health records worldwide.

When speaking about the patient care level, the standard clinical data integration would allow providers to seamlessly use the entirety of a patient’s health data to provide individualized care quickly and easily.
For example, blockchain technology could facilitate and streamline the use of tools like the American College of Surgeons National Surgical Quality Improvement Program (ACS NSQIP) Surgical Risk Calculator, as the necessary clinical data inputs could be automatically gathered with access to a patient’s records.

In its entirety, data gathered across a range of personal health and wellness activities, diagnostic and therapeutic services, procedures, laboratory testing’s, radiology, smart devices, and genetic testing services could all be securely incorporated into a patient’s file, accessible to both patients and healthcare institutions. Patients control their own data, while institutions control institutional-level data. Each party involved could give encrypted access keys to providers, researchers, or any other parties they choose, providing a range of access—from minimal amounts of de-identified data to individual-level full-chain access—that can be revoked at any time. Every data interaction is appended to the chain in a time-stamped and stable manner, adding to the system’s intrinsic security.

2) Management systems for fraud & false claims elimination and Clinical trials resolution

For now, nearly 50% of all the clinical trials in the U.S. are known to go unreported, and investigators often fail to share their results (that makes almost 90% of trials on ClinicalTrials.gov results). All of it creates the troubles and safety issues for the patients and knowledge gaps between healthcare stakeholders and health policymakers.

The anarchy could be eliminated with the new system based on the blockchain, supporting the time-stamped permanent records of clinical trials, protocols and results could potentially address the issues of outcome switching, data snooping and selective reporting. This will help in reducing the overall level of fraud and time to time errors in clinical trial records.

Also, the blockchain-based management system could help drive unprecedented collaboration between participants and researchers around innovations in medical research in fields like precision medicine and population health management.
In the United States and many leading world countries of today, nearly up to 10% of healthcare costs are considered as fraudulent, which results in excessive billing or billing for non-performed services. In 2016, for example, the fraud in healthcare industry officially caused around $30 million of loss. The blockchain-based systems can provide realistic solutions for minimizing these medical billing-related frauds. By automating the majority of claim adjudication and payment processing activities, blockchain systems could help to eliminate the need for intermediaries and reduce the administrative costs and time for providers and payers. Blockchain could also have significant ramifications for improving some of the enormous logistical information tracking hurdles of reliability-centered maintenance (RCM) functions. For example, Gem Health, a provider of blockchain application platforms for enterprises, has collaborated with Capital One to develop blockchain-based healthcare claims management solutions.

3) Building the pharmaceutical products supply chain of the next level

Due to recent statistics, the pharmaceutical industry and companies annual loss worldwide are now close to $200 billion due to counterfeit drugs all over the world. Nowadays about 30% of drugs that are sold in developing and third-world countries are considered to be counterfeits. A blockchain system could ensure a chain-of-custody log, tracking each step of the supply chain at the individual drug/product level.

Moreover, the implemented new functionalities such as private keys and smart contracts could help build in proof of ownership of the pharma source at any point in the supply chain and manage the contracts between different parties. For example, a company called iSolve LCC is currently working with multiple pharma/biopharma companies to implement its Advanced Digital Ledger Technology (ADLT) blockchain solutions to help manage drug supply chain integrity.
Blockchain technology also stands to eliminate fraudulent clinics billing cost, for instance, are increasing every year. Crafting a tech-immutable severe blockchain with the help of which the patients are informed of all changes to their health care records and bills would eliminate the possibility of such abuse. The creation of such a system would also increase the safety of the drug and device supply chains. Counterfeit drugs are understood to pose both a public health threat and a significant cost to the pharmaceutical industry, costing the EU area nearly 10 billion Euros per year according to the official data.

4) Medical research implementations and data sharing

The future HC – data blockchains can surely help the next generation of scientific research as the Surgical and medical data of today is encumbered by the difficulty of building large datasets across existing silos of patient data. The cost, labor, and error associated with the problem of manual updating databases like ACS NSQIP, the National Trauma Data Bank, or the National Cancer Database can be avoided if clinical data are integrated into a standard, searchable blockchain records. Moreover, the power of these data will be amplified in coming years if the troves of genetic data from public online sources and phenotypic data from wearable devices can be effectively incorporated into the technology.
The data gathered across a range of personal health and wellness activity, diagnostic and therapeutic services, procedures, laboratory testing, radiology, smart devices, and genetic testing services could all be securely incorporated into a patient’s unique file, accessible to both patients and healthcare institutions.

Everyone can benefit from it – so the patients are in control of their own data, while the medical establishments control data on the institutional level. Each party involved could give encrypted access keys to providers, researchers, or any other parties they choose, providing a range of access—from minimal amounts of de-identified data to individual-level full-chain access—that can be revoked at any time. Every data interaction is appended to the chain in a time-stamped and stable manner, adding to the system’s advanced security measures.

5) Advanced network security

Speaking about the last, though not the least worth attention point of HC-blockchain development features, the security measures are needed to be executed on an entirely new level.

For example, the last reports by Protenus Breach Barometer, there were a total number of security breaches in the US exceeded 450 in 2016, and over 27 million patients had been affected. Moreover, about 43% of these breaches were insider-caused and 27% due to hacking and ransomware.
As the market of Internet of Medical Things evolves and grow every year, the existing computer system of health industry can face a lot of challenges in future due to the overall infrastructure weakness. It is estimated, that by 2020, no less than 20-30 billion of healthcare IoT-connected devices will be used on a global scale.

Blockchain-enabled solutions have the potential to bridge the gaps of device data interoperability while ensuring security, privacy and reliability around IoMT use cases. Companies such as Telstra, which specializes in user biometrics and smart homes, IBM (cognitive Internet of Things) and Tierion (industrial, medical device preventive maintenance) are actively working around these use cases.

Blockchain-based systems that aim to track each step of pharmaceutical procurement and delivery—with each intermediary contributing a cryptographic key to a final product hash are already being developed to eliminate this problem.

There are also security issues related to the centralized nature of these records in their current form, making them frequent targets of cyber attacks. More than one-third of the U.K. National Health Services’ (NHS) trusts report coming under cyber attack, and more than 110 million U.S. citizens had health care data stolen in 2015 alone. The next year the situation even got worse as the hackers targeted several hospitals in so-called “ransomware attacks,” where hackers locked systems until ransoms were paid, with at least one hospital in Los Angeles, CA, admitting to paying to meet hacker demands.

Blockchain-based systems that aim to track each step of pharmaceutical procurement and delivery—with each intermediary contributing a cryptographic key to a final product hash are already being developed to eliminate this problem.

In the nearest future, the health care providers would need encrypted keys to request information from patients, and patients could, in turn, select who has access to their medical records and when. Patients could potentially preauthorize information sharing with legitimate providers in unforeseen emergencies without actually pre-sharing that data, and choose to which, if any, research entities to lend their data.
Healthcare providers would need encrypted keys to request information from patients, and patients could, in turn, select who has access to their medical records and when. Patients could potentially preauthorize information sharing with legitimate providers in unforeseen emergencies without actually pre-sharing that data, and choose to which, if any, research entities to lend their data.

As blockchain technology continues to develop rapidly, it is essential that surgeons and other high-profile medical personnel understand both its capabilities and its limitations.

The more specific benefits of implementation and top existing problems
The HC-systems that currently exist are massively overrated regarding functionality and cost. The patients sometimes are treated without access to medical histories, current medications, and prior imaging studies that could influence patient care at large.

It can save up to $77.8 billion per year in U.S. market, mostly by avoiding redundant tests and imaging studies, and by decreasing administrative expenses as well.

Multiple reasons are standing behind the healthcare sector vulnerability to cyber attacks. The clinics budget shortages, IT-staff incompetence and overall systems insecurity, come to mind in the first place.

But there is always a place for human error which results in malware and ransomware infections due to the incompetence of clinic staff, and the software of unknown origin to be installed on healthcare systems.
Recent research made at Trapx Labs discovered the 63% increase in attacks in 2016. The most significant attacks revolve around the theft of patient records, including 3,6 million records stolen from Banner Health, and 3,4 million patient details leaked by Newkirk products. What drives all these cases? Patient record databases can fetch a decent price on the deep web these days, as long as they contain full information.
Medical device data hijacking remains one of the consistent trends throughout the recent years. A lot of medical devices are connected to the Internet, for some reason, making them prone to attacks from hackers looking to gain remote system access. Medical devices also contain backdoors, which can be accessed through targeted campaigns, malware attacks, and ransomware distribution. For now, addressing this problem is not easy, as the healthcare sector cannot afford downtime due to cyber attacks. In most cases, they will end up paying a ransom to make sure that their systems are left alone.

Conclusion

In healthcare, opportunities exist not only to revolutionize the electronic health information, supply chains, and data ownership, but also to assimilate expansive tranches of data for research purposes by creating technology that is transparent, digital, immutable, secure, and controlled by institutions and, more importantly, by the healthcare industry patients.
That represents another critical step at the beginning of the blockchain revolution at large, and significant obstacles to implementation remain. It is imperative that further research and advocacy efforts led by clinicians underscore potential advances in research and innovation as a result of blockchain technology.

Only time can tell if the blockchain can raise the healthcare field to the new level, but there is no doubt, that its fuel will ignite the overall process of long-needed advance in this industry and many others. The global technology areas covered by blockchain spread beyond the healthcare of course. That also implies the next level of healthcare chips development.
Another significant factor of the biotechnology progress is the biochips technology. Since the end of the 20th century, microchips of different design began to enter the arsenal of techniques used in scientific biomedical laboratories, and then came into diagnostic practice as well. Biochips are a sensitive, highly specific, reliable and fast method of research.

Jun 14   Blockchain   Future   Healthcare

Top Crypto Hacks of All Time

The possibility of owning a cryptocurrency asset nowadays is more tempting than ever. The desire to get a big jackpot with a relatively small risk attracts more and more scammers and experienced hackers. Today we have prepared the top of the most famous and largest virtual robberies:

1) Mt. Gox – 744,408 BTC (350 million dollars stolen)

First, let’s talk about the most famous case and the biggest theft of digital assets – the history with the Mt.Gox exchange led to the most significant loss of the Bitcoins in history.

Unlike other similar cases of multimillion-dollar thefts, the one mentioned above have occurred because of a qualified plan of hacking by a group of high-class black-hat hackers who use multiple security vulnerabilities.

This loss was the culmination of many years of Bitcoin thefts. The most famous of these skimming hacks occurred in June 2011. The hacker (or a group of hackers) allegedly got access to a computer belonging to one of the auditors and took advantage of a security vulnerability to access the servers of Mt. Gox.

Hackers then changed the nominal value of Bitcoin to 1 cent. Some customers unknowingly purchased 650 BTC, when the price was artificially lowered. Although what happened made the headlines of publications around the world, not a single asset was returned.

To strengthen investor confidence, the company compensated stolen coins and placed most of the remaining in the “cold” store. A couple of years later, the Japanese company became the most reliable Bitcoin exchange in the world. However, the troubles were already standing in front of the facade. The firm has established a partnership with Coinlab, its US subsidiary.

Somehow it became publicly known that MT. Gox eventually works without a license in the US, which, naturally, attracted the attention of the feds. Coinlab also sued for $ 75 million for breach of contract. The ensuing investigation led to the seizure of another $ 5 million, which dealt a significant blow to the company’s reputation.

Unfortunately, it was just the tip of the iceberg – it turns out that the organization had deeper problems, and that higher echelons of management may not have known about it. The CEO of Mt. Gox, Mark Carpeles, was initially a developer. Therefore, he was too busy working for the glory of his creation: a currency exchange platform. He was pleased with the fact that he created the most extensive service among all of these – MT. Gox handled more than 70% of all BTC transactions at that time.

Serious troubles began when the company ceased to create a sufficiently healthy development culture for its software. In other words, there just was not a lever for management. Since the CEO had to give his approval, before approving most of the innovations and processes, the developers of the platforms had to spend a lot of time to implement technical solutions. As with any extremely valuable asset, vultures always circle around – hackers took advantage of weaknesses on the exchange platform to gain access to Bitcoins. And they proposed: you can “ask” BTC for any price. For several minutes, a large-scale sale of coins for millions of dollars, most of which was sold for just a cent. In general, world prices for Bitcoin were still stabilizing soon after the incident. However, the damage has already been done was immense.

In the end, it became known that Mt. Gox lost about 850,000 BTC. At the time of the events, given the Bitcoin rate, the losses amounted to the equivalent of approximately $ 350 million. The company was about to declare bankruptcy. Hundreds of thousands of people lost money. The Japanese authorities arrested General Director Mark Carpels for fraud. He pleaded not guilty and was later released. In 2014, the authorities restored part of the bitcoins that were stored on old addresses, but they did not send them back in exchange. Most likely, they kept him in trust to pay off their creditors.

2) Tether – $ 30.9 million stolen

This service, created by Tether with a market capitalization of $ 673 million, combined the best qualities of the finest currencies and advances in blockchain technologies for creating digital money in the form of USD-tokens. Tether primary use had been the transactions of cryptocurrencies to other exchanges and countries, without making use of the dollar and banks.

USD should be aimed at trading real money on Bitcoin, Litecoin or Ethereum. According to the idea, with a deposit of $ 1 to Tether’s account, the investor received 1 USDT. You can also use the exchange to transfer cryptocurrency into fiat money.

November 19, 2017, the hacker got access to Tether Treasury Wallet and was able to withdraw $ 30.9 million in tokens. This attack was successfully carried out using the Bitcoin address to commit the transaction, so the theft was virtually irreversible.

Even before the incident, Tether had severe issues because of the Bifinex exchange, which before that had lost a significant amount of investors’ money. There were severe charges, such as the fact that Bifinex used Tether’s finances to commit fraud on a large scale.

By the end of the day, however, a large-scale panic began, which led to a significant drop in the rate of Bitcoin.

Serious charges have been raised, including that Bitinfex used Tether assets to commit fraud. To rectify the situation, Tether introduced some strict measures that made it impossible for an attacker to redeem a stolen cache, turning it into a currency or bitcoin. At the end of the day, there was widespread panic, which led to a drop in the cost of Bitcoin.

3) NiceHash, 4,732.42 BTC ($ 60 million stolen)

NiceHash company from Slovenia specialized in the help of cryptocurrency lenders in the purchase or sale of computer capacity. Transactions were conducted in Bitcoins. However, the miners were not exposed to outside threats. The feature was also the lack of advance payment; buyers also paid in BTC.

December 6, 2017, there was a severe gap in the security of servers. Users of Reddit reported that they are not able to log into their accounts or make transactions – when they tried to log in, everyone received notification of technical work on the platform. In following news it turned out that the service was subjected to a powerful cyber attack and a purse with the amount of 4,736.42 (at the rate of 6.12.2017 the number of losses was almost 60 million dollars), the bitcoins were abducted.

As in the case of most of the missing and stolen Bitcoins, money, in this case, is hardly possible to return. Despite the incredibly high losses, NiceHash had the opportunity to continue its operations and provide services for the mining of crypto-currencies.

CEO and founder of the company Marco Kobal left his post so that the project involved a new management team. The company was able to restore investor confidence and began to strengthen its protection against future incursions.

4) Bifinex – 119,756 BTC ($ 72 million stolen)

Bifinex was the world’s largest crypto exchange until ANX swallowed it.

On August 4, 2016, an unknown group of individuals abducted 119,756 Bitcoins (almost $ 72 million at the current exchange rate) from user accounts. Attackers were able to withdraw tokens from purses, even in spite of the multi-layered protection system. The hacking occurred through the procedure of execution of the multi-signature, which allows the transfer of funds.

The system worked in this way: Bitfinex stores two user keys, while the other blocking company, BitGo, will keep the third key. Together these keys will allow BTC (and additional digital money) to transfer. At the time, it was suggested that the attacker might have had access to the BitGo API key and used it to commit transactions. Nevertheless, BitGo announced in social networks that the violation was not fixed on any of the servers.

The aftermath of Bitfinex was transparent about the whole trial and assured (for understandable reasons angry) customers that they were working to establish some compensation. They bought back some of their assets from their ICO to recover some of the affected customers. But they never tracked the lost funds. Bitfinex still processes exchanges for BTC, LTC, ETH and even the currency of the currency.

The Bifinex Exchange, in turn, was honest with its users and assured the justified angry customers that they would help compensate. The company bought several of its assets from the ICO to pay off users, but the stolen funds were never tracked. Bitfinex is further involved in the transfer of BTC, LTC, ETH, and even the currency of the currencies.

5) Decentralized Autonomous Organization (DAO) – $ 50 million stolen

The DAO (Decentralized Autonomous Organization) project was launched on April 30, 2016, with a 28-day funding window. The DAO was popular with investors, collecting more than $ 100 million by May 15, and by the end of the funding period, the DAO turned out to be the most massive crowdfunding in history, raising more than $ 150 million from more than 11,000 investors and enthusiasts. In fact, the DAO collected much more money than its creators had expected.

Unfortunately, while programmers were working on eliminating many system vulnerabilities, an unknown attacker used a hole in the program code and started the output of the DAO broadcast, collected from the sale of tokens.
By Saturday, June 18, 2016, the hacker managed to merge more than 3.6 million ether into the “daughter DAO,” which had the same structure as the DAO. The price of the air dropped from $ 20 to $ 13.

Several people attempted to split the DAO to prevent further escapes, but they could not get the required number of votes in such a short time. Since designers did not expect so much money, all the broadcast was in one address – a terrible idea.

Before the incident, several project advisors expressed concern that the DAO exceeded its crowdfunding mandate and violated securities laws in several countries. Lawyers also pointed out that its creators are potentially responsible for any problems that may arise, and some have expressed concern that DAO tokens holders assume the responsibility that they probably do not know about because the project exists in the gray area law and regulation.

Ultimately, a severe vulnerability in the DAO code allowed hackers to steal nearly $ 50 million in Ethereum.

Developers of the cryptocurrency have made a controversial decision and have made the hardcore of the block to return the funds to the rightful owners. The group of users decided to keep the original blockchain of the cryptocurrency, which exists today and is called Ethereum Classic.

6) Bitcoin

In 2010, the attacker discovered an error in the Bitcoin software and took advantage of it. This attacker was able to generate one block (# 74638), which would create a transaction of 184 billion BTC. Yes, you read correctly: he was on as many as 183,958,000,000 Bitcoins more than ever had to exist.

The transaction was divided by the fraudster into three parts: there were two equal output values ​​of about 92 billion BTC each. The third one showed the transaction fee. It was instantly apparent that someone had taken advantage of a software error that would later be on the list of common vulnerabilities. The attacker tried to make huge profits, but community members sounded the alarm. They forced the creators to implement the power of the whole network. In fact, they pressed the reset button, and everything soon fell into place.

Moreover, a software patch was created to fix the error – this meant that the transaction was declared invalid, and everything returned to normal. Needless to say, with a successful transaction, it would be a transaction in the number of quadrillion dollars. Nevertheless, Bitcoin investors know that there is a hard limit to the release (hard cap) of 21 million bitcoins.

Despite numerous cases of hacker attacks and gaps in security systems leading to frequent losses of users’ finance, crypto-currencies continue to attract new supporters, and the courses are steadily growing. Up to date, the actual Bitcoin exchange rate as of July 8, 2018, is $7,632, and Ethereum is $602.

The most known jesting coins

The traditional, centuries ago-established banking systems had proved itself being extremely hard for accepting changes and innovations. With the advent of blockchain technologies, it became possible to create the decent payment option with the cryptocurrencies assets. Over the years, the number of the cryptocurrencies in circulation had reached more than 1,500 and the capitalization of all assets in the brightest market moments was more than $500 billion – a decent result in comparison that in the first day of the year 2017 it was estimated only to $17,7 billion.

Though major five currencies are a long time, not the subjects the of jokes on the Internet since they present decent growing digital assets, the modern reality dictates the more pragmatic approach.

However, among the hundreds of currently existing digital assets, there had been numerous attempts taken by different geeks and crypto enthusiasts only to provide the so-called joke currencies, which hold a significant place in the crypto world.
Of course, there is a certain degree of coins which sole purpose of existence was the scam fundraising made by cyber pranksters, and some are hardly worth anything at all, yet they all provide a critical outlook on the hype. Their worth is mostly based on their critique of how we react to the financial world, both new and old.

MONACOIN

Introduced back in December 2013 Monacoin was the first distinctly Japanese cryptocurrency. Its icon is a cat featured on a golden coin resembling the mint of Dogecoin. Although its website is more bare bones than tongue in cheek, Monacoin’s community is very robust and engaged in the crypto world. Having been birthed in 2013, Monacoin has longevity relative to other joke coins. Most of its humor is geared toward Japanese speakers. However, every once in a while, a Western investor will speculate, “What about Mona?”

JESUS COIN

There are fewer things older than money and religion. Parodying the human relationship between the two is most certainly a stroke of genius. The Jesus Coin website fully mimics an ICO’s front page with a team, roadmap, and cartoon. Jesus Coin is a classic comedic coin for fans of joke coins.

USELESS ETHEREUM TOKEN

The Useless Ethereum Token is marketed as the most blatantly honest ICO ever created. The website’s creator is totally transparent about using the funds from the ICO for flat screen televisions and other electronics. Hilariously acronymed “UET” in the style of tokens that present themselves for mass trading, UET also flaunted bonuses to entice initial investors.

With an ICO in the summer of 2017, the dawn of the year of ICOs, Useless Ethereum Token is an apt reminder of the fool’s gold ICOs that plague the Ethereum network and the crypto community at large.

GARLICOIN

Garlicoin arose after a Reddit post which said that if it garnered 30,000 upvotes, its author would create a new coin. Well, the author’s position reached its goal, and so a new coin was forked from Litecoin on December 25, 2017.
Most of Garlicoin’s comedy comes from its community’s subreddit. The initial post has enough hilarious comments to keep you entertained for the better part of an hour. Its subreddit is also a central hub for humor with a vibrant community of memes and banter. Although Garlicoin is a very new joke coin, it will be interesting to track its progress throughout the year.

DOGECOIN

With over 110 billion coins mined and a rich meme culture of its own, Dogecoin is most certainly the king of joke coins. This widely known and well-loved coin was initially designed to illustrate the volatility of the crypto space and behavior. With its first flourish in December 2013, it soon became apparent that the joke was lost on its buyers, or that crypto traders will try to make a profit on just about anything. Its subsequent crash illustrated the darker side of cryptocurrency, with memes trolling the market. Perhaps even more ominously, a thief stole millions of Dogecoin around Christmas. However, the community united and donated funds to those who had lost them.

Fast forward to 2017, and Dogecoin had climbed to a $2 billion market cap. That amount has since declined, but Dogecoin continues to unite and inform crypto enthusiasts on various issues. One of its creators, Jackson Palmer, warned against its success in a series of press articles during the bull run of 2017-2018. It seems that despite its blossoming success, the joke was momentarily lost on at least one of its founders. Dogecoin’s staggering volatility, poignant moments and lingering humor place it at the top of the list.

How to make your first crypto wallet

In 2018 it became evident, that cryptocurrencies have made the revolution in people’s minds an are bringing genuinely radical changes to the life of humanity. There is an actively growing demand for different types of cryptocurrencies all over the world, but where should you start as a rookie in this business?

With opening a specialized crypto wallet of course – in fact, an analog of the usual E-wallet designed to store digital currencies like Bitcoin, Ethereum, Litecoin, etc. The sending, receiving and sharing of the specific amount of money at any time is convenient and fast. When registering the new account, the owner receives a private key with access to the wallet from any spot on the globe, the specific code for direct control of the wallet is saved on your computer or a remote server.

For a start, let’s consider certain types of these wallets, because, at the moment, there are many varieties, which slightly differ in functionality.
For example, the desktop or local PC wallets are installed on desktop PCs and allow its owner to have full control over savings. The most famous application of this kind – ArcBit, Armory, Bitcoin Knots, BitGo, Bither Electrum, Multibit, Copay, mSIGNA. This type of wallet can be categorized into simple to use ones, but less reliable, like BitGo or Multibit, as well as more comprehensive Armory and Bitcoin Core that are safer, but require regular updates and real-time synchronization.
There are also many very convenient mobile wallet versions in the form of applications for your smartphone:

1)IOS –GreenAddress, Airbitz, Bitcoin Wallet, Bither, Coin.Space, ArcBit;

2)Android – Coin.Space, Copay, ArcBit, BTC.com, Bitcoin Wallet, Bither, Breadwallet, Electrum, GreenAddress, Mycelium;

3)Windows Phone – Copay, Coin.Space;

4)BlackBerry – Bitcoin Wallet.

Private keys for wallet addresses are stored in an encrypted code on your phone which allows you to make the payment as quickly as possible. The main drawback of this is not having the possibility to download the entire blockchain due to the lack of memory.

Online wallets are convenient for the beginners because they can be accessed from any devices connected to the network. Web wallets include such as BTC.com, Coinapult, Coinbase Blockchain, BitGo, Xapo, Strongcoin, Circle, and Green Address. Private keys are generated during the connections and are stored using a particular server in the Internet database, storage site, cloud storage or a separate cell with multisign. The main disadvantage of it is that a third-party resource, which stores specific keys, can usually access the wallet. The security of the currency will be under threat in case of system failure or cyber attacks.

The most reliable and safe ones are considered as “hardware” wallets like the Ledger Nano S, DigitalBitbox, Trezor, and KeepKey nowadays, as they are suitable for long-term storage of the vast number of assets. Hardware wallet is a physical, electronic device in the form of flash drive, which provides cold storage of crypto-currencies in an isolated protected environment (safe). These USB shaped devices have to be plugged into a computer to provide the transactions. Such wallets are secured from computer malware as private keys are generated on the device itself, offline. They are also easy to use, and little or no technical knowledge is required to use them.

So, to obtain access to funds, you need to connect it to a PC, tablet or a smartphone. The private key used to sign transactions is embedded in the purse, so to hack it through the network is impossible. The main drawback is usually a high cost of the device itself.

And finally, paper wallets are one of the most secure to use as you physically have your addresses on physical paper. You are entirely free to print out a wallet address for yourself using BitAddress or WalletGenerator. But, being more secure from cyberworld attacks and hack-resistant, it can be damaged in a lot of other ways like burning, torn apart, soaked, etc. So, itis very important to make so physical copies to be stored in different places at a time.

Making the right choice

The most crucial and vital moment is choosing the particular wallet type. Each type of wallets has its advantages and disadvantages: for example, some are more focused on safety and security; others are aimed for comfortable and convenient use, or concentrate on user’s privacy. The right choice is easier to make, knowing your own ultimate goal: long-term investments and savings are suitable for hardware wallet, the mobile version works good with online purchases, but for everyday transactions, it is better to use an online wallet. To make your daily use of the wallet convenient and safe, you should pay attention to three main criteria before the register: safety, conversion speed of the multi-currency account and it’s safety measures. Regarding the first point, the SSL-encrypted connection through HTTPS, a trusted IP-address, and multi-level authorization provides extended standards of security. The conversion must be carried out immediately, and at the best exchange rate with no commissions, the multi-currency account will give you the opportunity to manage different cryptocurrencies within a single wallet. Of course, some digital purses combine all of these parameters.

Your cryptocurrency wallet registration

Even before you create a wallet, it is essential to choose a reliable website or a reputable crypto exchange. One should always remember the mentioned above risks associated with these online wallets, and for the opportunity to work more with hardware devices. But, of course, the final choice depends on your own needs and purpose of the wallet. For the beginner, it is better not to risk and limit their decision to the three most popular resources – the Blockchain, EXMO or Bitcoin.org.

Creating the wallet: step-by-step

The procedure of registration depends on the type of the wallet – for example, an online wallet processing will be significantly different from the PC version. After you are done with the selection, follow the recommendations of the specifical resource that provides a suitable option.
To register a local wallet, you will need to download the application, or archived file system data on your PC and then follow the instructions to install and activate the wallet. Many of these versions have their mobile counterparts.
There are usually several stages of the registration. For example:

1) Visit the chosen website and open the “Wallet” tab, then click “Register.”

2) In the newly opened window fill in your personal information – email address and the password.

3) Confirm registration of your account via e-mail link or an SMS code.
4) Visit the website again and log into the new wallet.

5) In the personal account menu set the settings in accordance with your individual requirements.

6) Find the “Security Center” section or similar to it one and activate the multi-level authentication for login, then confirm the trusted IP address or perform some other actions to even further protect the wallet from any unauthorized access. Enable two-step verification as well.

7) In case of need to create a Bitcoin wallet – usually a blank form will be opened with gaps that need to be filled.

This opens a “mnemonic” key to restore the access that you want to copy or overwrite, and save in a safe place – in a separate file, for example.

Your online wallet usage

In further, the replenishment of the account balance can be processed the through personal account page – for example, when you click “Deposit Bitcoin” or “Receive funds”, a window opens with the actual currency account in your wallet. This address can be copied and used for the transfer of funds or directly send the code to the person who is going to transfer you the money.

In order to send the funds, the number of the receiver’s wallet is required as well as specified money amount and the purpose of transfer.

Recommendations and precautions

In fact, a wallet for the cryptocurrency can be regarded as a standard money wallet, but it has several advanced features that also increase risks. To prevent the loss of your own savings, simple but important rules should be remembered:

1) Keeping enormous amounts of money on the long terms is valid only for the wallets that provide full control over the private key, and therefore over digital assets. Your funds will be secured from fraud and possible cyber-attacks that way.

2) One needs to come up with a unique and sophisticated password. The main thing is to record it somewhere, stash and not to tell anyone.

3) Encryption of information and securing a backup of the private keys. When you reinstall the PC software, or system fail happens, it may help to restore access to your wallet quickly.

4) Storing secret keys on the offline devices which are not available for hacking over the Internet.

5) The also important thing is to use trusted antivirus software only and to update it often in order to prevent the leak of personal data that hackers can use to crack passwords.

6) To register multiple accounts (wallets) of several types that will diversify the funds and to choose the most suitable option.

The emergence of Bitcoin raised the popularity of most people to cryptocurrencies to insane rates. Cryptocurrency accounts and its transactions are not controlled by anyone due to the lack of the central governing body. Digital coins do not wear out, and they cannot be faked. It is essential to understand that the rules of the game on this new market are constantly changing and shifting, and there are many pitfalls for beginners in the digital economy. The primary rules are straightforward to understand – use the purse wisely and not to neglect safety precautions, and the risk of loss will be minimized.

The most underrated cryptocurrencies of 2017

The last year had brought the world crypto community attention to some relatively small digital currencies, which until the specific time had been regarded as failed even by many experts. We outline the most successful cryptocurrency projects that had achieved an unexpected acceptance by the community in 2017.

1) Monero’s main feature is that it’s entirely a unique kind of cryptocurrency — an utterly private coin. No one will be able to track the amount of your savings on this blockchain, unlike popular Bitcoin or Litecoin. The Monero network is constructed with the usage of the CryptoNote Protocol, which is the evolution of the principles which are behind the original Bitcoin. In contrast to the transparent blockchain of the Bitcoin which allows any member of the network to determine the sender as well as the recipient, Monero transactions cannot be tracked, making all the participants anonymous. A temporary drawback is the fact that a small by now number of users hamper the procedure of mixing transaction, and as a result, significant transactions can be visible and tracked down.

Initially launched in 2014, Monero uses a famous principle of proof-of-work. For a long time, it had been considered being an another-bitcoin-double as the media often used the expression “the perfect solution for the fraud and drug trafficking” because of its high level of privacy. However, in 2017 the value of this currency rose more than 3000%. Now Monero is the perfect choice not only for dubious personalities — the developers are actively working on the promotion campaign with five online stores and almost 50 well-known musicians, including Mariah Carey, Sia, Weezer, G-Eazy and many others, who will accept this currency as payments for their services during the holiday season. An exciting and competent move for the legalization and promotion of their cryptocurrencies, no doubt.
The main characteristics of Monero that explains its popularity as t
he currency are the following: maximum security, anonymity and transaction privacy.

2) Ripple cryptocurrency platform is focused on transactions to currency with no chargebacks. A Ripple company’s currency main feature is the usage of “consensus in the registry.” The system had been originally launched in 2012; the Protocol supports tokens representing fiduciary money, cryptocurrency, commodity or other objects, such as frequent flyer miles or minutes of mobile communication. At its core, Ripple is based on an open shared database that uses a negotiation process that allows you to make the exchange in a distributed process. The main feature of Ripple is the low and adequate value that will enable it permanently to be in the top 5 currencies by market capitalization.

The Ripple skeptics always had a negative attitude to it due to the apparent platform centralization as they believed that the blockchain must be decentralized. Thomas Ripple is going to dispel this myth, making efforts for a broader implementation of his creation — after all, with the mass success of this technology, there will be no more long days of waiting when the bank completes your transfer.

Nowadays Ripple indeed drew the attention of major players in the financial world like Western Union. In early 2017 Ripple had signed an agreement with the National Bank of Abu Dhabi, which operates in 17 countries. Today the list of organizations working with Ripple is мукн extensive. It is worth to note the expansion system — recently an additional service had been launched that allows you to complete even precious metals transactions. That had undoubtedly made Ripple a pioneer in this direction and significantly increased the confidence of investors — now even some trust funds make the Ripple deposits.

During the 2017 total rate of the Ripple has grown by more than 4000%, and the experts say that in the future this trend will continue.

3) The main advantage of Stellar Lumens cryptocurrency is its cheapness. Many experts claim that the purchase of XLM tokens is quite profitable because the buyer will not have to worry about the possible substantial loss if XLM is eventually removed from the list — which is very unlikely in the nearest future. Another argument in favor of this cryptocurrency is the trading volume, and the experts also draw attention to the XLM liquidity. Stellar Lumens — one of the undisputed leaders in the alternative coin market capitalization. Another attractive feature is that the XLM tokens can be used as a link between currencies that have no direct private market. They are always among the top altcoins by market capitalization, which means that major “players” are also waiting for the big payouts.

4) The New Economy Movement (NEM or XEM) cryptocurrency has very ambitious goals.

XEM is a peer-to-peer cryptocurrency platform. It’s written with Java and JavaScript and uses the 100% original code. XEM is a model for widespread dissemination and adds some new features to blockchain technology with the importance algorithm confirmation of POI (Proof-of-Importance). NEM also offers an integrated peer-to-peer system for the exchange of encrypted messages, accounts with multi-signs and the reputation system Eigentrust++.

NEM (XEM) project does have ambitious goals. With the blockchain technology, one can create billions of services on it, from online shopping to decentralized social networks, structures with decentralization and the protection of the highest level.
XEM rewards those who support the internal project economy, so users can earn tokens by merely completing the transactions. This model of growth has much more sense than the conventional mining. No doubt, it also may be a revolutionary way to control the future. The developers have plans to create the first cryptocurrency trading platform like eBay, but with the technology power of the blockchain.

Earlier Ctrl + ↓