Bancor Hacked, 24,984 ETH Missing

Bancor Hacked. After the previous Bancor hacking information, now the Bancor reports that 24,984 ETHs or worth approximately USD 12.5 million have been lost from the wallet. Not only that, about 229,356,645 NPXS totaling USD 1 million and 3,200,000 BNT worth USD 10 million also lost.

All of the lost digital assets are from the wallet used to withdraw the ETH from the BNT smart contract. The bancor party has posted the notice through its official twitter account.

Here is the latest update on the recent security breach: pic.twitter.com/JroypFvBri

- Bancor (@Bancor) July 9, 2018

In the preceding information, there has been one source explaining that there is a high probability that some 25,000 ETHs have been lost. The statement from the Bancor turned out to be true. Nevertheless, Bancor asserted that no wallet of users were affected. But only Bancor wallet that is specifically used to update the smart contract mentioned above who have lost a number of digital assets.

To reiterate, no user wallets have been compromised in the attack.

- Bancor (@Bancor) July 9, 2018

Until now, the Bancor party is still trying to identify the attackers and attempt to freeze the total BNT that has been stolen. The reason, it is done to minimize the widespread problem in the Bancor ecosystem.

The update of the Bancor protocol to allow freeze tokens has been built in order to cope with emergency situations as experienced today. Unfortunately, to be able to freeze the total assets of ETH is not possible.

However, the Bancor also tried to cooperate with so many crypto exchanges in order to track the stolen assets. At least, it can make it hard for an attacker to sell the asset and liquefy it.

Meanwhile, a number of tokens in the Bancor P2P ecosystem services market are suspended until the situation is completely resolved. Some tokens such as EOS, Tron, ICO, OmiseGo, Augur, Aelf, Qash, Status, and also Maker.

Interestingly enough of this event is, that the previous Bancor was full of confidence that its platform was entirely decentralized. But if you see from this event, it becomes quite doubtful. Elizabet Stark had time to reply through his comments about Bancor. Stark said, "Nope, not centralized at all," he sneered@BPI

Central Bank of Philippines Has Passed Two New Crypto Exchange Licenses

Two New Crypto Exchange Licenses. Bangko Sentral ng Pilipinas (BSP) which is the central bank of the Philippines has passed permission for two new crypto exchanges in the country. Both permits are granted to Virtual Currency Philippines, Inc. and also ETranss.

With the addition of two permits for the new crypto market, it means there are currently five crypto exchanges that have officially pocketed the permission of a policy buffer in the Philippines. The five exchanges are Rebittance Inc, Bloom Solutions, Betur Inc, and the two new exchanges namely Etranss and Virtual Currency Philippines.

In the Philippines, it does seem to prefer a safer path associated with the regulation of the crypto world. Since 26 June, the CEZA (Cagayan Economic Zone Authority) has announced that there will be only 25 entities engaged in the crypto field to be licensed.

As for the crypto world itself, it seems to have been widely understood as well as its benefits by the Philippine central bank. Although, there are a number of vigilance that must be considered primarily related to risk and potential abuse.

In a Filipino business media, it is said that the conversion of Peso currency to crypto currency has increased sharply over the past two years. The average amount reached USD 36.7 million per month in the first quarter based on data from two of the largest crypto market exchanges in the Philippines. While the volume of trade even reached USD 38.27 million in the span of October and December last year.

Slightly different from the previous plan concerning the licensing of exchanges that can be used for other entities, at this time for the permission of crypto exchanges will be imposed separately. A separate permit is made if the pocket which has pocketed the permit has a different entity within its platform, eg to issue its own crypto currency.

In fact, according to Ms. Fonacier from the BSP explained that if on the platform has other services such as e-wallet, then it also will be subject to its own terms@BPI

Uproar Because Li Xiaolai Leaks Monkey Business Crypto World

Monkey Business World Crypto. Bitcoin billionaire Li Xiaolai discloses the crypto business monkey business. This is known after the leaking of recording talks that reveal many dark secrets of the crypto world. The recording of the 50 minute duration of July 4th was first obtained through the WeChat app. The leaking of the tape is then widely publicized in Chinese electronic media.

Li Xiaolay, previously quite widely known in the community of crypto Asia because has made many sites of bitcoin faucet. In addition Xiaolai is one of the crypto investors, he is also known to have assets worth USD 3.5 billion. In fact, so far, Li Xiaolai has also been heavily involved to promote several crypto projects such as Qtum and several others.

In the recording of the leaked conversation, Li revealed many dark secrets of many crypto projects as well as some large crypto exchanges. Among them are NEO, Ripple, Tron, and some exchanges like Binance, OKCoin.

Li in the tape denounced the Binance crypto market as a "cheater market". In his view, the main reason for Binance's success began when many crypto exchanges in China had to close in September due to a ban. But according to Li only Binance can survive and miraculously survive the ban.

Not only that, Li also revealed the main reason for the split between founder and CEO Binance, Zhao Changpeng, with Xu Mingxing founder of OKCoin. He called the character Zhao Changpeng not good, as well as with Xu who has a dark history. Li Xiaolai's tone of voice on the tape seemed quite fiery. Li even uses a lot of diction "stupid X" 24 times.

Associated with many crypto projects, although he also promotes a large number, Li assumes that most of the crypto and ICO platforms are worthless. In his statement, Li mentioned several such projects as NEO, Ripple, Tron, EOS, Litecoin, and others.

According to Li, some successful ICO projects are not built through a really good concept, but because they are built by creating a pool of followers with a really aggressive and explosive pulse. Li thinks some of today's popular tokens are nothing but scam, worthless.

A crypto project that has value is because the highest value of blockchain is "Consensus". Most ICO projects today, manipulate and wrap it into a hype, nothing more. In fact, according to him, most of the fake crypto project is not supported by anything concrete.

What Li is talking about, seems to be an explanation for other crypto communities in China, because of her well-known figure. This has major implications for many investors in the crypto community to pay more attention to the real conditions.

Despite what Li fired up with the greatest rough tone, there was a reality to be realized. Almost no longer a secret, that the crypto stock is currently built with a foundation full of speculation and manipulation@BPI

INDODAX Exchange - Trade with Zero Fee

INDODAX Exchange Marketplace Platform. INDODAX is a marketplace platform for buying and selling digital assets such as Bitcoin, Ethereum, Ripple and others. Digital Assets can be purchased using Rupiah or Bitcoin. The main feature of this site is to buy bitcoin (digital asset). Meanwhile, the second feature is selling bitcoin. This feature you can use when will sell bitcoin.

Have a trading platform that will serve the digital trading process for 24 hours in one day. This means you can guess the price of bitcoin earlier, so you can make an investment to make a profit.

PT. Bitcoin Indonesia or referred to as INDODAX is one of the largest online companies in Indonesia where people can buy or sell Bitcoin as a digital commodity with Rupiah. INDODAX also provides features where customers can exchange their Bitcoins with other types of digital currencies such as Litecoin, Dogecoin, Riplle, and others.

INDODAX was established in 2013 until now 2018 in Jakarta with the mission of becoming the largest digital currency market in Asia and applying digital currency technology to the best payment solution for the people of Indonesia.

INDODAX now processes almost all bitcoin transactions in Indonesia and also provides automatic stall machines where bitcoin users can buy bitcoins easily without having to go online or log in to their accounts.

With INDODAX's trading volume reaching one billion Rupiah per day and 166,603 registered members on its website, Indodax.com has succeeded in becoming a leader in Southeast Asia in the digital currency business. Until now, the Company is intensively reported in the mass media as an organization that has a mission to disseminate the use of Bitcoin in Indonesia. INDODAX also actively cooperates with many partners both domestic and abroad.

INDODAX is a rebrand movement spearheaded by its CEO, Oscar Darmawan to realign the company's goal to focus on various digital assets rather than just bitcoin.

Address:

Jl. Nakula No.88b, Legian, Kuta, Badung Regency, Bali 80361, Indonesia

Fees:

• Maker (sell/buy pending) 0%

• Taker (sell/buy instant) 0.3%

Withdrawal:

• BitBayar & VIP.Bitcoin.co.id - Free

• Other BTC wallets - 0.0005 BTC

Deposit: Free

Fiat deposit: IDR

Payment Method Accepted: Bank Transfer

Margin Trading: No

Website: INDODAX

Email: admin@bitcoin.co.id

Swiss Exchange, SIX will Launch Own Crypto Exchange

SIX Swiss Exchange will launch its own fully authorized crypto market next year. SIX, is a Swiss stock exchange formerly known as Switzerland SWX Stock Exchange is a Swiss stock exchange located in Zurich. In addition to trading securities such as bonds, derivatives, with SMI as its stock market indices, now SIX will also trade crypto-based currencies.

The SIX Exchange has indeed become the world's first stock exchange to have used the trading system, with the ultimate finalization automation since 1995. The SIX securities market is becoming so powerful because it is managed from an association of 55 other banks.

Reporting from Businessinsider, that last Friday the SIX has announced plans about the launch of its official crypto exchange. Although the crypto price movement has dropped evenly both bitcoins to almost all Altcoin since the beginning of 2018, the SIX remain confident in their plans.

Jos Dijsselhof, CEO of the SIX Stock Exchange, said: "It's pretty clear that what has happened so far about the digital world will continue to exist. This is the beginning of a new era for capital market infrastructure. For us, what has happened to the digital space so far will continue to exist and will determine the future of our industry, "he concluded.

SIX will launch its own cryptic exchange by the name of SIX Digital Exchange. On the new crypto market it will be overseen by Swiss national bank and also FINMA. Reportedly, the launch of crypto stocks will be ready to be launched in the first half of the year ahead.

The new SIX Exchange platform will not only provide crypto-based trading services like Bitcoin and some crypto popules, but also for many other digital assets as well as most ICO tokens.

SIX's head of securities and trading, Thomas Zeeb pays special attention to some real challenges to the world of digital assets. According to him, the digital space currently faces some of its greatest challenges such as regulatory and security guarantees, stability, transparency as well as official accountability.

Some of the main issues above lead to the same implications, namely the low level of trust. Specifically about storing digital assets later on SIX, it will act as an official infrastructure provider to accommodate all integrated and secure blockchain models.

So far, Switzerland has become a region friendly enough to the world of crypto in Europe. The authorities and the relevant authorities in Switzerland are also quite accommodating. There, also provide clear guidance to be able to support new companies engaged in the world of crypto in order to grow@BPI

Laporan Parlemen Eropa Tentang Cryptocurrency Dan Bank Sentral

Cryptocurrency di Parlemen Eropa. Beberapa hari lalu, Parlemen Eropa merilis laporan tentang cryptocurrency dan keterkaitannya dengan tantangan yang harus dihadapi oleh bank sentral. Laporan itu disusun sesuai permintaan dari Komite Parlemen Eropa Urusan Ekonomi dan Moneter.

Dalam laporan yang terdiri dari 33 halaman penuh itu, berisikan tentang analisis mata uang berbasis kripto (cryptocurrency), berkaitan dengan dampaknya terhadap pasar keuangan dan kebijakan moneter, terutama dengan bagaimana peran bank sentral yang seharusnya memonopoli penerbitan uang.

Meski pihak regulator dan juga bank sentral menghadapi dampak yang ditimbulkan, namun mata uang kripto juga menghadapi persoalan yang sama. Dalam laporan itu dituliskan, “Mata uang kripto menghadapi tantangan untuk bisa merebut pasar, dan berupaya untuk bisa mendapat pengakuan pemerintah sebagai alat pembayaran, membangun kepercayaan publik mengenai stabilitasnya, dan mencapai jaringan yang memadai dalam penggunannya. Meski pemerintah dan bank sentral tidak menerima sebagai entitas resmi di masing-masing yurisdiksi, namun masalah pengakuan pasar tetap terbuka, dan ekspansi cepat Bitcoin dan proyek mata uang kripto lain di seluruh dunia menunjukkan hal itu mungkin terjadi. Penerbit mata uang pribadi dan kontemporer mampu memastikan jaringan globalnya secara transparan dalam hal sirkulasi, algoritma yang kredibel saat menciptakan mata uang kripto, dan mekanisme transaksi yang relatif aman, cepat, dan murah.”

Secara keseluruhan, pada laporan parlemen eropa tersebut memang banyak membicarakan tentang kelebihan dan kekurangan mata uang kripto. Dalam laporan tersebut juga memprediksi bahwa mata uang kripto tidak mungkin bisa berkompetisi terhadap kuasa monopoli uang bank sentral dalam waktu dekat.

Meski demikian, mata uang kripto dengan karekteristik khasnya yang berkaitan dengan perkembangan teknologi termasuk dalam hal transparansi jaringan dan potensi transaksi yang lintas batas, mata uang kripto mempunyai peluang survive yang lebih baik. Era digital dianggap mempu mengatasi banyak kekurangan-kekurangan mata uang saat ini.

Sementara itu, berkaitan dengan sikap para pemangku kebijakan, sebagian besar lebih banyak memilih untuk bersikap “wait and see” saja. Di dalam laporan itu, lebih menyarankan untuk sebaiknya mengambil titik tengah antara sikap yang optimis dan suka cita.

Landasan atas hal itu adalah karena dengan karakter mata uang kripto yang bisa ditransaksikan lintas batas negara, maka peraturan yang bisa diselaraskan di seluruh yurisdiksi akan mampu memungut pajak. Penarikan pajak itu dapat disamakan seperti halnya investasi dalam aset keuangan lain@BPI

Binance and SYS Respond to Irregular Trading

Binance and Sys Irregular Trading. Binance’s trading suspension lifted as more details emerge about July 3rd incident. After Binance’s internal risk management system detected irregular trades from a number of API users, on July the 3rd, it temporarily suspended trading, withdrawals and other account functions.

The irregularity came from an issue with Binance's API, which caused exponential volume and market pressure to Syscoin trading. There was a sharp spike in the price of SYS and buy/sell order prices hit remarkable levels.

Sudden jump in value of SYS

Binance has stated that to “protect the safety of our API users” it has taken a number of actions relating to the incident. Primary amongst was a rollback of irregular trades and the removal of all existing API keys — with a request for all Binance API users to recreate their API keys.

In addition, Binance has warned API users to better safeguard their API keys going forward and to use the IP whitelist functionality to ensure keys are only accessible to authorized users.

“No coins were mined outside of the regular mining schedule, and the Syscoin blockchain was not compromised.” — Syscoin co-founder Sébastien DiMichele

For its part, Syscoin co-founder Sébastien DiMichele says there was no breach of the Syscoin network and the incident was purely API related. He says the Syscoin block explorer “indicated that 1.2 billion coins were transferred back and forth on the same block (block #87670), and [it] was not an attack on the network”.

DiMichele adds that “no coins were mined outside of the regular mining schedule, and the Syscoin blockchain was not compromised.”

Syscoin secures its blockchain using ZDAG technology, additionally, it is merge mined with Bitcoin, giving it a boost in hash rate and creating greater security against hackers.

Binance has provided a summation of the incident on its support site. In addition to the noted action relating to API usage, Binance is offering rebates and compensation to users affected by the outage and announced the creation of a Secure Asset Fund for Users (SAFU). Binance says beginning on the 14th of July it “will allocate 10% of all trading fees received into SAFU to offer protection to our users and their funds in extreme cases. This fund will be stored in a separate cold wallet.”@BPI

Bitcoin Gold Introduces Algorithm To Counter ASIC Centralization

Bitcoin Gold Introduces Algorithm. Bitcoin Gold, one of the most prominent Bitcoin forked cryptocurrencies, has just migrated to a new mining algorithm, to ensure that ASIC-resistance is maintained.

Bitcoin Gold Hard Fork At Block 536,200

Bitcoin Gold was founded with the decentralization of mining in mind, adopting algorithms which ASICs cannot mine on. Many critics of ASIC mining machines see these specialized pieces of hardware as a source of centralization, as ASICs can be bought en-masse, putting a copious amount of relatively affordable hash power into the hands of a single entity. 

A group of individuals thought it best to build off of this criticism, forking off the main ASIC-infested Bitcoin blockchain into Bitcoin Gold in October 2017. BTG first enlisted the use of the Equihash algorithm, which was ASIC-resistant at the time. In the nine months since then, new Equihash ASICs have begun to edge out GPU miners, with these specialized machines offering an exponentially higher dollar/hash ratio.

On Tuesday, the Bitcoin Gold team announced that it had successfully implemented a network upgrade by initiating a hard fork on the 536,200 BTG block. The release from the Bitcoin Gold team member, Edward Iskra, noted that the upgrade changed the mining algorithm for BTG. With the algorithm changing from Equihash to an updated version of the aforementioned algorithm, fittingly named Equihash-BTG.

This upgrade is an attempt to keep ASICs away from the network, introducing a layer of ASIC-resistance that should stave off any attempts at centralizing BTG mining. Although successful so far, it is likely that ASIC manufacturers may pick up on the new Equihash-BTG algorithms moving into the future.  

The May BTG 51% Attack

Bitcoin Gold experienced a 51% attack in May, amongst growing fears of similar attacks on other blockchains. The double-spend attack saw $18 million worth of BTG being exploited by the malicious attackers, getting a nice payday from the attack.

According to analysis from the cryptocurrency community and BTG team, the 51% attack was a result of rented hash power, which may have consisted of ASIC miners. The new algorithm ensures that there is no rental market for Equihash-BTG miners, making the upgraded blockchain more secure.

Edward Iskra wrote:

The recent “51%” attacks, which may or may not have involved ASIC miners, were channeled through hashpower rental markets – but with this change in algorithm, there’s no longer a rental market for the algorithm we’re using, and it’s harder to set one up than before. This means more safety.

Additionally, this hard fork also introduces a new difficulty adjustment system, ensuring that the BTG blockchain is responsive to large hash power shifts.

LWMA, the improved difficulty adjustment algorithms, allows for the better stabilization of block times, assuring that a new block gets pushed out approximately every 10 minutes after a hashrate swing. Iskra chalked up this change to the auto-switching method which miners enlist to receive the most mining profits.

The release stated:

Our improved algorithm will help the blockchain adjust more quickly, providing a steadier flow of blocks.

Rising Bitmain Power On New Algorithms

Bitmain is one of the most influential companies in the cryptocurrency space, reportedly generating over $3 billion in profits in 2017 alone. The ASIC manufacturer historically built ASICs for the SHA-256 and Scrypt algorithms, or for Bitcoin and Litecoin respectively. However, Bitmain has recently started creating new ASICs for algorithms that were previously ASIC-resistant, algorithms like Equihash and EthHash. 

These news ASICs have begun to affect Equihash and EthHash blockchains, such as ZCash and Ethereum. GPU miners who contribute hash power to these blockchains have been seeing declining profits, with ASICs easily outperforming graphics card rigs.

Ethereum and ZCash have abstained from forking away from ASICs, leading to an environment where GPU miners have had to bow out of mining pools. This will only help Bitmain hold its monopoly on the cryptocurrency mining industry, which lacks competitors to this ever-growing ASIC giant@BPI

NEO Decentralization Begins with Election of City of Zion Consensus Node

NEO Decentralization Begins. The decentralization of the NEO network has begun with the election of a City of Zion consensus node onto the NEO MainNet. City of Zion is a global, independent group of open source developers, designers and translators formed to support the NEO core and ecosystem.

The City of Zion consensus node has been running smoothly on the NEO TestNet for six months in preparation for election. Several other independent consensus nodes are also running on the TestNet and are planned to be voted in by the end of 2018.

These independent nodes include one hosted by KPN, one of the the largest telecom companies in the Netherlands. KPN announced its intention to host a consensus node at the first NEO meet up in Amsterdam on January 13th. KPN has 6.3 million fixed-line telephone customers; more than 33 million mobile subscribers in the Netherlands, Germany, Belgium, France, and Spain; and provides internet access to 2.1 million customers throughout Western Europe.

Fenbushi Capital is another company currently running a consensus node on the NEO TestNet in line for election. Fenbushi Capital was established in 2015 and was named one of the top 5 blockchain venture capital firms by CB Insights. The VC firm is said to have invested over USD $50 million in blockchain projects, and has Ethereum founder, Vitalik Buterin, as an advisor.

The KPN and Fenbushi Capital consensus nodes have been running on the NEO TestNet since April, 2018.

NEO has taken a methodical approach to decentralization, with founder Da Hongfei often acknowledging NEO’s centralized state. However, the gradual roll out of decentralization has been an intentional strategy, allowing the core development team to perform faster upgrades to the network.

Hongfei commented on this approach during his interview with Tyler Swope on NEOTALK @ DevCon: “We have to be very careful with decentralization of the consensus nodes, because the protocol of NEO is evolving very fast. We need those consensus nodes to act very quickly to upgrade, and if there is a bug or a security issue, we need them to respond very quickly. So we’re doing the decentralisation process slowly, gradually and very carefully.”

City of Zion also published an article in December of 2017 on “coopetition”, which is a philosophy where organizations who would otherwise be competitors cooperate in a shared project. This is an approach taken by many industrial open source and energy consortiums.

The article points out that in traditional Proof-of-Work or Proof-of-Stake networks, through the implementation of economic incentives and a range of second order off-chain interactions, such as access to cheap energy, ASICs or GPUs, on-chain oligopolies can be formed. Bitmain and its early access to ASIC technology is cited as one example of such an occurrence.

As there are no economic rewards for running a NEO consensus node, the onlyincentive is to ensure the integrity of the network. Therefore, it is in the best interest of organizations building and relying upon the NEO blockchain to deploy and maintain healthy nodes.

City of Zion explains: “In line with these ideas, NEO will begin its decentralization by allowing well known commercial projects and communities to run consensus nodes, forming an initial confederation of actors with a strong interest in guaranteeing the security and success of the network. While it might seem counterintuitive, this architecture will be less centralized than many other networks today. Through coopetition, we can ensure that all players are equal in the network by design. Their power won’t depend on how much money they have, or how cheap their electricity may be.”

In today’s announcement by NEO, a timeline of the decentralization process was laid out, beginning with the launch of the TestNet in 2015. The timeline states that NEO plans to open the network for public campaign and election of consensus nodes by 2019. A webpage for monitoring NEO blockchain status and information on consensus node candidates and their votes has been made available at:https://neo.org/consensus

All nominees for consensus nodes will be required to go through an identification process before they are voted in on MainNet, and will need to provide contact availability to ensure that time-critical events can be handled if they arise. Parties that prove that they can maintain outstanding uptime on the NEO TestNet will be eligible to be voted in as a MainNet consensus node by NEO holders@BPI

Optical Proof of Work (PoWx) - Alternative POW With Optical Computing

Alternative POW With Optical Computing. A conducive mining climate, still decentralized, has been the backstop for the success and security of bitcoin. Over time and development, the developmental climate also has the potential to become centralized because of the strength of large capital or a certain group that successfully has the amount of mining computing close to 50%.

Background

Strength of capital or the group has the potential to master the mining ecosystem by enlarging the amount of computing power (hashrate) bitcoin network. In this case, the group, or the power of large capital is the greatest influence comes from the producers of bitcoin mining devices that are now dominated by ASIC (Application Specific Integrated Circuits).

ASIC mining equipment dominates the bitcoin mining ecosystem because of its efficiency and effectiveness in performing certain computations for bitcoin mining compared to the GPU (Graphics Processing Unit).

Monopoly Hashrate and ASIC Devices

One of the big ASIC vendors, Bitmain, later became a party that monopolized many mining ecosystems through its manufacturer ASIC device. In the bitcoin network, Bitmain also has a hashrate approaching 50%.

The condition is of course a worrying condition, related to the potential mastery of the network that could happen at any time, including the potential of 51% attack. However, basically, ASIC vendor dynamic conditions are not a problem if more and more ASIC vendor alternatives are emerging. So ASIC producer climate becomes more competitive and also conducive.

Unfortunately, gradually since they were founded, BItmain itself has positioned itself as an ASIC producer that has increasingly monopolized the market. Allegedly, the number of devices used alone far greater than the number of ASIC sold in the market.

Bitmain with the device has enough potential to make bitcoin network become centralized. Bitmain itself is widely dismissed allegations that BTC.com independent, but it is just empty pepesan only because it is fully owned by Bitmain.

ASIC AsicBoost Asylum

AsicBoost, is an ASIC device for mining embedded in a new way to allow the exploit of its devices to maximize performance up to 20% faster, then embedded on its ASIC chip.

The potential weakness of the algorithm in POW bitcoin consensus was first recognized by Grex Maxwell and posted into the bitcoin developer mailing list forum on April 5, 2017. The potential that was then known, there are some miners who use unfair ways against other miners in bitcoin networks.

The unfair efforts use ways that are considered to be detrimental to other miners. The Asicboost utilizes the hash merkle damgard function, which in bitcoin mining processes typically hashing block headers with 80 bytes that focus on nonce with 32 bit size.

If in any SHA256 hashing process exclusively using 64 bits in the first option, then the effect of the previous data will also not be affected. Whereas if there is a miner capable of making the first 64 bit header block and the second block with a closer distance or identical to 16 bits only, then the miner can use the calculation and repeated for some experiment in the next block. As a result, the method can effectively reduce energy consumption and power, so it can work up to 20% more effective.

The attack using ASIC device media called Asicboost was initially patented by Timo Hanke and Sergio Demian Lerner in November 2014. The controversy about Asicboost continued when Bitmain's party attempted to patent their Asicboost version without entirely listing Timo Hanke and Sergio Demian credits Lerner. The Asicboost patent is listed in China on behalf of Bitmain.

Again, the cautious effort was re-done by Bitmain to re-try to control the network through the amount of computing device ASIC. It was then parried with Segwit bitcoin activation, which made Asicboost unable to function. The cornerstone of Segwit Activation is then rejected by the Bitmain CS plot, and raises BCash (Bitcoin Cash).

Instead of disagreeing with Segwit, Bitmain CS proposed Segwit2x that actually allowed their Asicboost to function and gain a much greater profit. When Segwit bitcoin is active and successful, then again Bitmain CS tries to find another way by bringing up a new drama on behalf of BCash.

Overall, both the potential for mastery of bitcoin networks through major ASIC producers, and the potential of Asicboost has long been a thorn in meat in Bitcoin. However, bitcoin should be able to make the mining climate and the bitcoin network as a whole to remain decentralized, no control and control in it.

PoWx With Optical Computing in Proof of Work Bitcoin

Gradually, an option appears to change PoW bitcoin. Luke Dashjr, bitcoin developer, then repeatedly tried to dig his opinion on the bitcoin community about the option. Until soon PoWx took advantage of Optical Computing (Photonic Computing) to improve the security of Bitcoin PoW consensus.

So far this bitcoin PoW change option is still limited to the proposal only, and also still in the stage of further development. However, understanding the condition of the mining ecosystem and everything that covers it above becomes quite important to know if it turns out at some point later this option is used in Bitcoin.

Now public: one of the most promising options for a #Bitcoin PoW change, that Bitmain has no common experience, and eliminates the electricity-cost bias.

* Optical * proof-of-work (aka #PoWxfor some reason). https://t.co/6YlFtqqHuw

- Luke Dashjr (@LukeDashjr) July 3, 2018

Then how the Optical Proof of Work (OPoW) is actually? OPoW basically focuses on the use of hardware and software based on Optical Computer / Optical Computing, or so-called (Photonic Computing). In this case, the devices in it are no longer dependent to use electric energy currents to be able to compute, but using visible or infrared (IR) light photons.

If generally the basic building of a modern computer is a transistor, then the transistor is then replaced with optical-based electronic components. So that the intensity of light can enter and transmitted through the material in the same way as the bipolar transistor response.

Because light is an important element, unlike electrical energy that has the potential to damage the device more heat if the computation is faster, culminate with the increasing amount of electricity used, and heat is the main factor of damage to the device. With light, then no matter how much is used, so the development of data processing and computing systems becomes more resistant and powerful. This computer-based optical technology, believed mempu process much faster than modern electronic computers today.

In general, the vision of optical computing OPoW based applications of PoWx has many benefits, including:

Beneficial to improve the decentralization of bitcoin mining ecosystems Minimize the rate of use of electrical energy power Addressing the potential problem of the centrality of mining ecosystems such as ASIC / GPUD projected to run on PoW Bitcoin. Creating a more competitive mining ecosystem climate, away from monopolies with open source development projects. alert to futureQuantum Computing challenges

The Problem of Using High Electrical Energy in Bitcoin Mining

One of the biggest problems in the mining ecosystem is the amount of electrical energy required to compute. So far, with the effectiveness of ASIC device performance is still not able to provide a solution to the amount of energy it.

If in some variants Altcoin many who use DPoS for mining mechanism, then Bitcoin must still try to become more expensive ecosystem so it can still be decentralized. This is what keeps the bitcoin different with some Altcoin variants.

Due to DPoS, it still allows a small group of potentially networking potentials. PoW bitcoin now, to be able to master the bitcoin network will require resources that really so big. Although the potential is still possible, but it will be quite difficult it can be done. While hardware for mining, OPoW will also use ASIC based Optics. In this case, the Application Specific Photonic Integrated Circuit (ASPIC) is used.

Crypto Regulation, Philippines Take a Different Approach

Philippine Crypto Regulation. Unlike the Thai government, the Philippine government chose to take a different approach on crypto regulation. Dated June 26, through the CEZA (Cagayan Economic Zone Authority), announced that there will be only 25 licenses to be issued by the government.

25 permits issued by the Philippine authority apply to the crypto market, Mining Farm, ICO, or any other crypto entity operating in that country. The move was taken as a precautionary measure to protect investors from potential fraud and scams.

While related to the requirements that must be met, crypto exchanges must have a minimum investment value of USD 1 million in a period of 2 years. Another requirement is to have an office in the Philippines, registered with the Philippine Securities and Exchange Commission, and pay USD 100,000 for its permission. As compensation, the entity that pocketed the permit and complied with the requirements is entitled to a tax break from the Philippine government.

Commenting on Reuter, Raul Lambino of CEZA, "We will give 10 permits for crypto exchanges from Japan, Hongkong, Malaysia and Korea. They can be crypto mining, ICO, or crypto exchanges. Fiat money exchange to crypto or vice versa should be done overseas so as not to violate the regulations in the Philippines, "he explained.

Related to the prevention of fraud and scam, Lambino added, "Currently still in the process of formulating regulations that can provide protection of investment cryptocurrency," he said. In this case, CEZA acts as a hub associated with the investment of the world of financial technology.

Regulations to provide protection against potential fraud and scam are more emphasis on not allowing ponzi schemes. The potential is generally well known from the ICO project. Lambino himself considers the ICO project a lot of fraudsters. According to Lambino, there are many scammers that operate and are associated with crypto exchanges with capital and small market capitalization. "We do not want the Philippines to be a haven for fraudsters, as well as schemes of fraud originating from abroad", he stressed@BPI

Crypto Law in Thailand Without Rigor

Crypto Law in Thailand. If most countries are complicated enough to formulate crypto law, in Thailand the process is true without any lengthy debates. Generally, a long debate to formulate related crypto legislation on the assessment of whether crypto is categorized as securities or not.

Since last April, the Thai Government has also taken seriously to immediately regulate the market for crypto. By Thai finance minister, Apisak Tantivorawong at a cabinet meeting at that time, had already announced a crypto currency regulation plan.

As a result, the Thai government uses a crypto law that is. The cryptocurrency and digital tokens commonly referred to through the ICO program are viewed as a digital asset business. Not only that, the Thai Government is also ready to change their tax laws, in order to take revenue from new industries in the segment.

Thai government regulations, in detail regulate the rules of business related to the crypto world such as exchanges, brokers, as well as about ICO regulations (Initial Coin Offerings). Specifically about this ICO, later the ICO token must be paired with one of seven specified crypto currency. The seven crypto currencies are like Bitcoin, Ethereum, Ethereum Classic, Litecoin, Stellar, Bitcoin Cash, and Ripple.

With regard to its tax withdrawal, the Government will withdraw 15% as taxes taken from profits. More specifically, the tax for digital asset trading is subject to 7% for VAT in each trade.

VAT tax withdrawal in each crypto trade is then considered to be enough to inhibit new industries later to be able to grow. One of the law firms that has clients from the crypto industry, Baker McKenzie rate VAT should be eliminated. According to him, the tax-specific withdrawal rules for trade are the rest of the old tax rules.

Broadly speaking, the steps taken by the Thai Government on regulation of crypto currency is a bold step. But in connection with the regulation, the Securities and Exchange Commission of Thailand is trying to be able to balance between the pros and cons Crypto.

In addition, if through the crypto law is too tight, it will cause new industry players will choose to run overseas. With these efforts, the Thai government has tried new opportunities to compete with other countries that project as a crypto center. Other countries such as Japan, South Korea, and also Taiwan@ BPI

ARBITAO Automatic Platform Makes Crypto Arbitration Accessible to Everyone

ARBITAO Auto Platform. New and experienced investors who want to benefit from the cryptocurrency market can now do it in a less risky and more user-friendly way; thanks to Arbitao, a fully automated cryptocurrency arbitration platform. The platform was launched in November 2017 and has been successfully tested and tested by a group of trusted crypto fans and merchants. Direct trades are executed every few seconds and are visible to everyone via the dashboard on the Arbitao website.

Arbitrage trading is a trade that exploits different price imbalances between different exchanges. Basically, it is a practice of buying the same asset at a cheaper price on one exchange and simultaneously selling it at a higher price elsewhere. Since the crypto market is very young, there are many arbitrage opportunities than in traditional markets. This is good for arbitrage investors because there are much better profit opportunities, while the risks remain small for traders and investors. It all sounds beautiful, but there are catches ... The success of arbitrage trading in the crypto market takes three things: high liquidity, complete specialized software to identify and execute commerce, and global infrastructure to ensure that trading is made quickly. Alone, achieving all of it will prove problematic, but fortunately for you, Arbitao offers all three.

Teknologi unik Arbitao menemukan perbedaan harga antara 19 bursa yang berbeda – termasuk Binance, Bitfinex, Kraken, dan Poloniex – dan secara otomatis membuat perdagangan menguntungkan untuk masing-masing anggotanya. Ya, yang Anda baca itu benar; platform sepenuhnya otomatis dan tidak memiliki hambatan untuk masuk, yang berarti semua orang sekarang dapat memperoleh manfaat dari perdagangan arbitrase – praktik yang biasanya hanya diperuntukkan bagi para trader profesional yang berpengalaman. Anggota komunitas dapat berinvestasi sekecil US $ 100, duduk kembali, dan menonton algoritme melakukan keajaiban untuk mereka. Selain itu, laba dibayarkan setiap hari dan dijamin sebagai dolar AS untuk menjaga mereka tetap aman dari volatilitas cryptocurrency.

The Arbitao platform runs on blockchain ATAO which is supported by its own cryptocurrency, ATAO. ATAO coins give investors access to the platform and are used to reward the Arbitao community: In addition to benefiting from automatic arbitrage trading and ATAO value increases, investors can earn ATAO coins through various ICO reward - referral, referral and commission systems.

Community members also need not worry about having to transfer their profits to various exchanges: the Arbitao Platform is accompanied by a TAOX exchange itself, which ensures easy and safe trading of ATAO coins with BTC at a very low cost.

Arbitao is more than white paper: Investing in Arbitao means investing in a proven strategy, a dedicated team and a piece of the future crypto market. All that's left is you open your laptop, go in, and take advantage of opportunities.

Arbitao pre sale was launched on July 1, 2018, and main token sales started on July 22, 2018. A total of 800,000,000 ATAO will be distributed to all ICO@BPI

More than 20% of Millennial Generation Men in the UK Bitcoin Better Than Real Estate

Bitcoin Better than Real Estate. "For millennials, Bitcoin's rising performance, followed by a similar correction, has more intrigue than a stable growth prospect in home prices," Get Living concludes. "This comes from the 27% Millennial gender of the men surveyed believing that Bitcoin is a better investment than property."

To be filled with questions such as whether they are less interested in following their parents' footsteps by owning a home and prefering bitcoin to get rich. This survey yields data that more than a quarter of men in the UK, at 3,065 with an age range of 21 to 35 years, see crypto as a good investment vehicle. In late March of this year, for example, "The Student Loan Report surveyed 1,000 current university students with related loan debt, posed one question: Have you ever used student loans to invest in crypto currencies like Bitcoin?" These pages are explained. The survey "found that 21.2 percent of current students with student loan debt have used financial aid money to allocate to cryptocurrency investments." The study itself confirmed the final results of the Harris Poll survey in 2017, which yields data that 27% of all generations millennials prefer bitcoin (BTC) rather than traditional stock and bonds.

"Bitcoin's significant price moves have made many Millennials excited, with one in five seeing it as an attractive investment proposition compared to relatively slow moving property values," says Get Living. Does not close The possibility of a shift in traditional investment to the realm of the new world. Blockchain has been recognized as an internet algorithm reform that makes it all the better. Not close the possibility of blockchain derivatives like cryptocurrency will be the most popular means of investment to get rid of other instruments. The future may change@BPI

ARBITAO Help You Solve Your Aribation Solutions

Arbitao Help Your Solution. Arbitao is an automated solution for arbitrage trading in the cryptocurrency market that aims to address the old problems associated with conventional arbitrage trading methods, which most people do not have the opportunity to arbitrate.

Arbitao's unique technology helps users by discovering price differences in different crypto exchanges and automatically execute arbitrage pro table trades for community members.

According to Karel Mirrin, "Many ICO projects do not have products that work and may never exist. With Arbitao, it's different. Our goal is to deliver a product that works and is tested before ICO begins. And we succeeded in it. "

While the emergence of cryptocurrency has provided many opportunities for individuals and investors, issues such as lack of liquidity for certain couples, price manipulation and the high number of non-professional traders lead to inefficiency, where prices vary widely between markets. Although some technical solutions have been applied to resolve the inefficiencies and benefits of potential arbitrage possibilities, the complexity of the overall arrangement makes it impossible for everyone to overcome them. This is where Arbitao and the unique ATAO blockchain technology come into play, using data provided by multiple exchanges to create pro table trades for members.

All community members in ATAO blockchain will be rewarded in two ways. First is a lurking prize that can be obtained by installing an ATAO wallet, stalking multiple coins and validating transactions in blockchain. In return for securing the network that way, users can earn more coins. The second way is to contribute the computing power to the network so that the Arbitao algorithm can run faster. This results in higher pro ts, which are shared between networks.

The Arbitao system has been online since November 2017 and was successfully tested and tested by a group of trusted crypto fans and merchants. Currently, Arbitao's automated arbitrage trading system can identify active arbitrage opportunities from 19 major exchanges, taking into account transaction time, transaction costs, volumes, book orders and other factors.

Once fully implemented, Arbitao will conduct fully decentralized arbitration trade to its users where they can manage their ATAO wallets with API credentials for their accounts on the exchange.

Arbitao is on a mission to implement a decentralized node network using highly functional computing resources. This will address the problem of identifying the most viable arbitration opportunities between various exchanges and carrying out risk-free arbitration trading before they disappear.

In the long term, Arbitao aims to fully decentralize existing arbitrage trade and empower both small and large investors. Initially, Arbitao laid the foundation for this environmental system by opening their fully operational automatic trading pool to the public.

You can find more information and press releases on the official website www.arbitao.com

Press Contact press@arbitao.com

Facebook 

https://www.facebook.com/atao.arbitao

Twitter https://twitter.com/arbitao

LinkedIn

https://www.linkedin.com/company/arbitao/

Arbitao Telegram Channel https://t.me/arbitao

Arbitao Telegram Group https://t.me/arbitaochat

Documents https://www.arbitao.com/id/documents

Multiple Issues with Japan’s Crypto Exchanges

Japan’s crypto exchanges issue. Japan’s Financial Services Agency (FSA) announced recently that it has issued orders to six cryptocurrency exchange operators–Tech Bureau, Corp., BITPoint Japan Co. Ltd., BTC BOX. Ltd, bitFlyer, Inc., and QUIONE Pte. Ltd.–to reform their business practices.

The FSA conducted on-site inspections at each of the companies and the results identified various points for reform, such as lack of effective internal control measures for money laundering, terrorism financing countermeasures, controls for segregated accounts for user assets and managing accounting records, and prevention of cryptocurrency outflows due to unauthorized access.

BitFlyer, thought to be the largest exchange in Japan, was required to address 10 items, the most of the six. Among those items was an order for “drastic revisions to business administration posture.” The FSA said bitFlyer had not established proper internal management due to focus on cutting costs, including internal auditing.

In addition, the FSA said bitFlyer’s supervisory committee as well its the board of directors had not deployed an appropriate system of checks and balances and that declarations made by bitFlyer during its registration screening were contrary to the facts.

As a result, BitFlyer has voluntarily stopped accepting new clients to focus on improving its management systems, including identity verification. It has not suspended transaction services for existing clients, however.

The FSA’s actions come after a call for increased oversight following the huge Coincheck hack in January. The theft of half a billion dollars worth of XEM being the catalyst for the FSA to strengthen its monitoring of cryptocurrency exchanges. 

Interestingly the agency’s on-site inspections have been targeted not only at quasi-operator exchanges awaiting formal approval, but at exchanges that have been successfully registered as well.

While bitFlyer was identified as having the most issues, other exchanges were also found wanting — with some not having addressed issues identified in previous FSA audits.

This is the second time, for example, that Tech Bureau has been ordered to reform its business practices, with the first request occuring on March 8th. During regular checks on the status of improvements, the FSA recognized found that Tech Bureau’s management had not responded appropriately to recurring system failures and frequent complaints.

Cryptocurrency exchange operator FSHO was previously denied registration as an exchange by the FSA earlier in June after receiving two orders to suspend service in March and April. However, FSHO was a quasi-operator that was taking steps towards formal approval from the agency, differentiating it from the six registered operators identified in the latest audits. Industry observers say much heavier penalties could be handed down to these companies if improvements are not quickly forthcoming@BPI

Bithumb Reveals 11 Cryptocurrencies Lost and Plan to Compensate Customers

Bithumb Plan to Compensate Customers. South Korean crypto exchange Bithumb has announced the 11 cryptocurrencies stolen in last week’s theft and the amount of each coin missing. A compensation plan has also been unveiled for the equivalent value of the lost coins in an undetermined cryptocurrency.

Only Half As Much Crypto Missing

Bithumb officially announced Thursday the details of the cryptocurrency theft which it reported on June 20. Since then, the exchange has been cooperating with the authorities to investigate the cause of the theft.

Initially, the exchange estimated that the “damage caused by the cyber-attack was about 35 billion KWR [~US$31 million],” but that amount was revised to “about 19 billion KRW instead [~$17 million]” after undergoing a “continuous recovery process.” The exchange elaborated:

The main reason for the reduction of the damage is due to the ongoing participation, support and cooperation of cryptocurrency exchanges and cryptocurrencies foundations across the world. Also our quick response to the cyber-attack by removing cryptocurrencies from hot wallet to cold wallet effectively contributed to reducing the overall damage.

At the time of this writing, Bithumb is South Korea’s largest crypto exchange with a 24-hour trading volume of $136,432,719, followed by the Kakao-backed Upbit with $110,435,824 trading volume in the same time period, according to Coinmarketcap.

Which Coins Were Stolen?

Bithumb has provided a breakdown of the 11 cryptocurrencies that it claims were stolen. They are BCH, BTC, ELF, ETH, ETHOS, GNT, HSR, KNC, OMG, VEN, and XRP. The largest damage is in BTC, which had about 13.9 billion won (~$12,377,255) stolen. According to Bithumb, the total amount stolen is 18,945,911,857 KRW or $16,892,614.

Compensation Plan

Bithumb has also revealed its plan to compensate all affected users. Reiterating that it takes full responsibility, the exchange announced that it is organizing “a compensation airdrop event.”

Members must apply for compensation from the theft to be eligible for the distribution.

For the inconvenience of keeping customers’ coins tied up, the exchange is offering interest between the time of application to the date they are fully compensated. “The annual interest rate of 10% will be prorated over the [compensation] period, hence the longer you hold, the higher compensation becomes,” Bithumb emphasized. “The amount of cryptocurrencies held will be calculated from 8:00 PM ~ 9:00 PM (UTC+9) each day starting from the date of application until the end of the [compensation] period.”

However, the eventual selection of which cryptocurrency customers will be reimbursed in has not yet been determined, Bithumb detailed, stating:

The equivalent value of cryptocurrencies will be given away in a form of an airdrop (the type of cryptocurrency is not decided yet).

Commission Fee-Free Coupons

In addition, Bithumb is offering commission fee-free trading coupons for all interested customers for the inconvenience caused to them, starting on June 28.

“Commission fee-free coupons will be available for purchase each day (the coupon is zero cost, useable for 1 day and it can be purchased once UKevery day),” Bithumb detailed, adding that once it is purchased, it does not stack and can only be purchased when another coupon expires@BPI

The great alt-coin migration On June 30th

Great Alt-coin Migration. On the 30th of June major networks Vechain and Ontology will shift from existing as sub-tokens, operating as smart-contracts on parent networks, to their own proprietary networks.

The final day of June 2018 is significant in the crypto world given the mainnet transitions of a number of prominent tokens. Vechain, for example, will move from being an ERC-20 asset on the Ethereum blockchain, while Ontology will say goodbye to NEO and NEP-5.

In addition to these to major migrations, Fusion (FSN) a network with a $177 million market cap,  will also shift from an ERC-20 smart contract to a main network, on the 30th of June.  

While mainnet transitions such as these bring opportunities for the protocols to blossom on their own terms, they can also come with logistical challenges. For example, All Vechain VET token transactions were previously handled by miners from the Ethereum network, which is large, decentralized and possesses immense processing power.  

The Vechain blockchain will now have to depend on its own native miners to provide processing power, handle block production and achieve network consensus for securing transactions. As we have seen with EOS this can be a challenging transition to make.

On the flipside of this, Vechain will be switching to a Proof-of-Authority consensus algorithm — a system said to allow more straightforward network governance and fewer mining bottlenecks. If faster transactions times and greater efficiency is achieved via the new consensus method, this could potentially bring more investors, Dapp developers and enterprise partners to the network.

How a mainnet begins its life

The process of switching ‘temporary’ ERC-20 token to a new network, can be a challenging. It requires a high level of coding literacy from the dev teams behind the networks, as well as coordination, particularly given that a vast majority of switching tokens sit on third party platforms such as wallets and exchanges.

In this sense, mapping to a new network can happen in two broad forms. Token holders can be made to shift their tokens away from sitting in third party addresses like exchanges or wallets, to an address controlled internally by the switching network (manual switching).

However, the process of shifting tokens between addresses is at the very least inconvenient for token holders who have chosen to leave their assets with secure third parties. In a number of cases, third parties support the switching and handle the network mapping on behalf of the transitioning blockchain. This means token holders can leave their tokens sitting on external exchanges and all switching will be handled for them, and the network, by infrastructure within the third parties (automatic switching). TRON during its switch, took this approach and mapping for all token holders could only occur via a third party exchange, a fully automatic token swap.

The ONT approach

Alternate approaches are an option, however. With Ontology, for example, the network lets users choose between leaving their funds with supported third parties, like Binace, Huobi Pro, Upbit, KuCoin, Gate.io, and CoinEgg, or switch manually via a secured Ontology address to be released after the mainnet launch on the 30th of June.

For Ontology (ONG) token holders, there is an additional consideration regarding its upcoming mainnet launch. Ontology post-launch, will be a smart contract network and as such, requires ‘Gas’ to operate. Similar to NEO, Ontology will separate the network and will have two operable tokens. ONT will represent an ownership stake in the network, which will reward the holder with ONG, which will then be used as the Gas to confirm smart contracts.

With the mainnet launch, there is a question of how best for ONT holders to receive ONG on the new network. The most efficient method would appear to be via a native Ontology native, which will deposit new ONG daily for ONT holders, and is run by the Ontology team. However, if a holder prefers, Binance has announced that it will also deposit ONG gas for ONT holders.

Binance handles millions of dollars worth of funds daily, and holders may feel safer with them being their fund’s custodian, versus a new network early in its lifecycle.

Vechain Thor launch - a staggered timeline

With Vechain, similar to TRON before it, the mainnet launch and migration will be two separate events. On the 30th of June, the main network will be launched. Interested developers and the Vechain team will explore code, test for bugs and establish new nodes, before a full migration set for mid-July.

Currently, a few exchanges including Binance and Huobi Pro, have announced support for the Vechain network launch. It should be expected that more will sign-up to handle the switch before mid-July. There will also be a Vechain Thor mobile wallet released before the migration, and it is likely that token holders will be able to choose the mobile wallet for the token swap, rather than use a third party.

For Vechain, the network move will signal a significant shift in the utility and tokenomics of the protocol. Holders should be wary of this. For purely aesthetic purposes, the VEN ticker will change to VET. Additionally, the tokens will be mapped 1 VEN to 100 VET, a psychological decision indicating that Vechain expects their market to expand in the future.

At the time of the launch, if 1 VEN =  $2.50 then 1 VET will equal $0.025. Holders should be assured that their coins are not being diluted and the market cap of the Vechain network will not be changing. They are not being made richer or poorer as a result of the token swap. Any profit or loss for investors will be based on market views of the launch and if the new network is seen as offering novel solutions.

Similar to Ontology, The network is broken up into two tokens. In this case they are separately used as a stake in the network (VET), and as a medium to access more complex smart contracts run on the blockchain (THOR).

Holding VET will ensure that a specific amount of THOR will be allocated to a Vechain address. Unlike Ontology, where nodes will decide the conversion rate for tokens, THOR allocation is based on a static rate that can change monthly. As specified in the Vechain whitepaper, the THOR rate, based on its equation, will adjust to ensure there will always be partners wanting to participate in the network.

The launch also provides an opportunity for token holders to become involved with mining on the Vechain network. There are number of different types of block producers on the network, with each a tiered block reward program. For the highest level, authority masternodes, 25 Million VET will need to be staked (After 1:100 split). At current market rates, this equates to an approximately $650,000 worth of collateral.

The other altcoins switching

Also set to switch to their own mainnets are the smaller networks, Fusion (FSN) and Credits (CS).

Fusion will have a unique method for mapping, and will use its internally developed LILO (Lock in-Lock out) methodology.

In this system, private key information is sharded and spread out across different nodes in the network. Fusion’s algorithm is designed so that during a transaction, nodes holding shards of the private key are online and available during the verification process. Once each node has suitably confirmed the signatures of the shards of the original key making the transaction, the original transaction is confirmed and processed.

Because of the perceived security of the LILO system, Fusion has decided to handle all token-swapping via its own addresses, and not use any third parties.

For Credits (CS), news of its main network launch comes from a roadmap published in 2017. However, there has no been no mention of protocol, or nature of the switch from the official Credits twitter or medium accounts. It is unclear, therefore, if a token swap will actually occur on the 30th of June.

The importance of a testnet

Before a main network is launched, there is normally a test version of the network released where integral new features are trialled. Zilliqa (ZIL) a token with a marcap of $ 812,934,234, will release its testnet v1.0, in preparation for an eventual mainnet arrival in Q3 2019.

 Zilliqa is a network vaunted for its transaction speed capabilities generated by a unique sharding protocol. Based on most recent closed testing, the network may be able to achieve speeds as high as 2,500 transactions per second. 

 The new testnet will begin the process of embedding a new security-focused smart contract coding language, Scilla. Zilliqa is hoping to cut out any potential hacking risks when hosting on the network, at the language level. Safe smart contracts are a recurring  issue within blockchains given flaws such as those in the infamous DAO contracts and more recently found by bounty hunters within EOS’s code@BPI

Bandara Internasional Belanda Pasangkan ATM Bitcoin

ATM Bitcoindi Belanda. Untungnya, bandara internasional Belanda sekarang akan memungkinkan penumpang dan pengunjungnya mengubah “sisa euro ” untuk Bitcoin dan Ethereum. Untuk melayani kebutuhan pelancong yang lebih baik, bandara telah memasang Bitcoin ATM.

ATM Bitcoin Baru di Bandara Schiphol, Bandara Internasional Belanda

Bandara tersibuk ke-11 di dunia, Bandara Schiphol Amsterdam telah merilis Siaran Pers pada 20 Juni, bahwa bandara telah memasang mesin ATM yang menawarkan BTC dan ETH. Namun, Schiphol adalah bandara Eropa pertama yang menawarkan pertukaran crypto melalui ATM.

Direktur Produk & Layanan Konsumen di Bandara Schiphol Amsterdam, Tanja Dik mengatakan;

“Schiphol terus mencari cara untuk berinovasi dan memberikan layanan optimal kepada penumpang. Dengan Bitcoin ATM, kami berharap dapat menyediakan layanan yang bermanfaat bagi penumpang dengan memungkinkan mereka bertukar dengan mudah. Jadi, ‘lokal’ euro untuk ‘global’ BTC dan ETH. Itu bisa bermanfaat jika, misalnya, tidak mungkin menghabiskan euro di negara asal mereka ”.

Namun, mesin ATM terletak di Ruang Kedatangan 2 di Bandara Schiphol dan juga dari jalur menuju Departure Hall 1 dan 2, serta Schiphol Plaza.

Pendekatan baru ini telah diperkenalkan dalam kemitraan dengan Perusahaan Belanda, ByeleX Data Solutions BV. Selain itu, perusahaan menyediakan layanan integrasi pembayaran cryptocurrency untuk bisnis.

Herman Vissia, direktur Byelex mengutip;

“Kami senang bahwa Schiphol bersedia untuk bergabung dengan kami dalam mengeksplorasi cara-cara untuk memperkenalkan penumpang ke cryptoreality baru”.

Provinsi ini mendukung total dunia kelima ATM, meskipun sebagian besar tetap di Amerika Utara. Namun, Belanda memiliki 20 ATM kripto operasional saat ini.

Sebelumnya pada bulan Mei, Bandara Brisbane yang berbasis di Australia telah mulai menerima berbagai aset digital dan melabelinya memiliki salah satu bandara crypto yang ramah secara global@BPI