QTUM | UTXO based POS Smart Contract Platform


A new project called Qtum has been made by the Singapore-based Quantum Foundation that arrangements to merge the Bitcoin convention with QTUM Innovation. The open source project incorporates the Ethereum Virtual Machine with Bitcoin's Unspent Transaction Output (UTXO) model and intends to give brilliant contracts to organizations around the world. 

The Qtum team has been looking closely at the territories in which Bitcoin fails to adapt and grabs this opportunity to differentiate itself. Banks and other financial institutions for example, find in bitcoin a strong competitor, however not all banks and institutions have the resources, funds and knowledge in-house available to adapt or exploit the possibilities of the blockchain. And this is where Qtum steps in. With Qtum's Blockchain for businesses, they can easily adapt and integrate this praised technology in their mainstream operations. Question is however; if and when these organization will adapt this technology? 

A Project That Mixes Bitcoin Code With Ethereum's Virtual Machine

The project Qtum is an intriguing decentralized app (Dapp) that joins the Bitcoin customer 0.13, Proof of Stake (PoS), and the Ethereum Virtual Machine to empower shrewd contract administrations. The project has likewise gotten $1 million in subsidizing from speculators, for example, Fenbushi accomplice Bo Shen, Ethereum prime supporter Anthony Di lorio, BitFund originator Xiaolai Li. Qtum will likely give an esteem exchange convention Dapp stage with the best properties of both projects. 

"Qtum incorporated the EVM onto an UTXO-based blockchain, and composing contracts for this ought to be similarly as simple with respect to Ethereum, yet you get the advantages of the UTXO show," clarifies Qtumdesigner Jordan Earlz. "These advantages incorporate versatile/light wallet bolster by SPV, a more steady model (while Ethereum has forked commonly to settle issues with this), and similarity with existing Bitcoin apparatuses and conventions." 

qtum

The Qtum Project Will Deploy Master Contracts and Incentivized Proof of Stake

The Qtum improvement group subtle elements how the stage will permit both brilliant contracts and ace contracts that incorporate off-chain information. The Qtum project discloses to the distribution 8btc that ace contracts finish a great deal more than average keen contracts. 

"An agreement marked by two banks could be ended with the accord of the two banks alone," states the Quantum Foundation. An ace contract gives add up to control to the agreement endorsers over the execution or end of the contracts. That is a copy of genuine situation. The Master Contract is an extraordinary stride forward, conveying new potential to the blockchain application and augmenting the idea of the savvy contract. 

The project additionally claims to be the first to actualize a savvy contract framework using Bitcoin's UTXO while likewise coordinating a Proof of Stake instrument. The system agreement is alluded to as IPOS (Incentivized Proof of Stake) which the engineers say compensates the system members. 

Extensive Testing, Sparknet and Utilizing the Most Stable Blockchain

The Qtum group has constructed two Dapp projects so far including Spring Email and Qloha. Both administrations use cryptocurrency arrangements that improve informing applications and Simple Mail Transfer Protocol (STMP). As per the group, the Qtum project is amidst making desktop and portable wallets for its client base. After broad testing, the engineers plan to reveal its testnet application named "Sparknet" which will be the prelude to the official stage dispatch. Qtum additionally has revealed that the group will search out code surveys from autonomous people and associations willing to explore different avenues regarding the project. 

The project is satisfied to use the Bitcoin convention inside the Qtum project, expressing that the Bitcoin blockchain is the most tried and true openly appropriated record accessible. 

"Bitcoin is the most developed, steady and secure blockchain accessible, in contrast with Ethereum, Bitshares or others which are still viewed as flimsy with the various issues and security issues they had since they were propelled," says the Qtum group. Notwithstanding Bitcoin having the greatest support from the group which offers a huge gathering of devices and programming identified with Bitcoin which can be utilized by quantum too, rather than alternate blockchains which now and then need even the least difficult programming. 

The strengths of the Qtum project will make Qtum, if they will al be released, a strongholder and perhaps the only true bitcoin killer app. Because it's interesting to see their technical approach in action and hopefully we will be able to see it in the near future.

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Monero - secure, private, and untraceable

monero

Monero is a decentralized and anonymous cryptocurrency with CryptoNight algorithm and which is based on CryptoNote protocol. CryptoNote is a technology that allows the creation of cryptocurrencies which are privacy-centric. Monero is currently trading at $12.67 and has a market cap of $176,198,750. It also has the fastest block generation speed among all CryptoNotes, 1 minute to be exact. Regarding market cap, Monero is the second most successful CryptoNote currency, with a very active community around the coin. 

Monero, launched in 2014, aims to be an untraceable and fungible digital exchange medium. its various forks. You are your own bank with Monero. Only you are responsible and control your funds, plus your accounts and transactions are kept private from prying eyes. Monero features untraceable payments, unlinkable transactions, blockchain analysis resistance and adaptive parameters. Backup of the functionality is done by cryptographically proven schemes academic research. The Research Lab of Monero does most of this research. Currently, Monero is ranked fifth among all cryptocurrencies regarding the market cap. Monero implements four main features which are privacy-enabling that make it stand out from the cryptocurrency market. 

One is the dual key stealth address feature which Monero implements to hide the location of a sent payment. On the Monero blockchain, the transaction where the receiving address is sent can be seen. However, it is an address that is only used once and is generated automatically from Monero's public receiver's address. The addresses that can only be used once and are used for payments are not connected to Monero user public addresses. That public address is incorporated in generating a receiving address which is new for each payment. 

Also, Ring signatures are incorporated by Monero in masking transaction origin. It is not clear which outputs were employed in a transaction which is from the point of view of someone who is looking at the blockchain. In other words, rather than the one true source of payment, a person observing the blockchain sees few origins of payment. The anonymity signal provided by the ring signature feature improves when time goes by since the number of probable outputs incorporated in a transaction goes up with each transaction that is newly created. This is because, from an observer's point of view, the output is never really "spent". A Multi-layered Linkable Spontaneous Anonymous Group signature is an improved version of ring signatures introduced by RingCT which allows for destinations, hidden amounts and origins of transactions with reasonable efficiency and verifiable coin generation. 

A Ring confidential transaction is another Monero privacy feature based on confidential transactions of the Blockstream. Masking the amounts involved in transactions is the basic idea here. Transaction inputs are split into common denominations in Monero. Via a hard fork, RingCT was recently added to Monero, and via another hard fork later this year, it will become a mandatory feature. 

Incorporation of i2p to mask the original IP address of a transaction is the 4th privacy feature found in Monero. When a new transaction occurs, a node gets a notification. The node only has knowledge of the i2p address where the transaction originated from, which is not easily cuffed down to any physical location (unlike common IP addresses). However, the i2p integration on Monero is still work-in-progress.

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What is Ethereum?


One of the newest types of currencies in the digital world is Ethereum. Ethereum is a type of digital currency that is one of the blockchain currencies that individuals can use. It is similar to its better known cousin Bitcoin, however Ethereum is different in that it allows greater customization as a part of the digital coinage. It is one of the blockchain currencies you may be looking for. It is just one of the things that allows you to make a digital share or proof or anything you need it to be. 

Ethereum is just one of the things you may need in order to customize currency to hold it until it is needed or is released back to the owner. A smart contract allows you to contract the Ether which is the currency itself (Ethereum is the platform,) and the Ethereum allows you to pay people to cut out the middleman. It is one of the things that you can depend on when you are using these digital tokens. It is decentralized currency. It is just one of the types of coins that can fluctuate with what is needed. 

Basically Ethereum is a robot based platform that does all the work for you. Ethereum and blockchain smart wallets offers application control you may need. You can hold a smart wallet and keep your currency customized as to how you want it. It is simply one of the modern ways to make payments in today's world. Use your Smart contract to trade, buy and all of these things are just what you might want to use it for. 



Ethereum is widely thought of as being the currency of the future in some circles so you might want to invest in this currency and get the sort of options and applications you need. It is truly away to benefit from the encryption and the specialized contracts that make up the digital world. The applications of the contracts with Ethereum are basically unlimited. It is one of the good things that you might I enjoy as the funds are decentralized and safe from fraud or other influence. Some researchers state that Ethereum has more advantages than Bitcoin because it is transferable to other forms of currency. 

It is a specialized tradable contract currency. Specialized or smart contracts enable you to do more with digital currency than you have been able to do before. Many can use this currency and can get the sort of programming needed when looking for a digital currency that is useable, and secure and allows exchanges of currencies and contracts. It is great to be able to cut out the middleman when it comes to using various types of currencies and Ethereum allows you to do this. You can customize the currency and do what they need to do with it. It is more technologically feasible and easier to use than Bitcoin. This may be why individuals use this currency and why they think it is the best. Use a smart wallet with Ethereum and be a step up on other digital currencies. It is just the wave of the future. 

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What is Bitshares?

BitShares is a cryptocurrency and blockchain smart contracts platform. Currently, it has been ranked at eighth position among the markets cap altcoins, worth $23billion at the writing time. The currency was founded by Daniel Larimer in 2013. It has a three second block time, which is said to be as fast as a transmission done from the farthest side of the planet and still makes it to the current block. 

The currency features some new major aspects that makes it stand out among other altcoins: 1. More decentralized mode of exchange built into its wallet client;
2. Human readable addresses;
3. Ability to be issued as personalized cypto-assets to other holders of wallets;
4. A spectacular governance model with user voting;
5. Ability to be denominated in gold, silver, oil and other commodities or currencies;
6. The account can never be frozen or the funds freezed. 

BitShares is powered by Bitshares, which is an open source technology. It allow the wallet holder to trade crypto equities or bitassets. The altcoin currency offers a bank account where funds can be transferred instantly from any part of the world with more efficiency and privacy than any bank. BitShares serves as a form of exchange where currencies and stock derivatives can be traded including options and shorts. 

How is Bitshares different

1. Bitcoin is the oldest running cryptocurrency with a relatively larger market cap as compared to other altcoins. Being the first featured altcoin, it has is the most tested and proved to be safest against technical hacking. It also features the largest power of processing which means that majority of attacks that are aimed at it are not feasible at all. Many innovations have happened to this altcoin making it easier and safer. 

2. Due to the effect of the network, BitShares has a very powerful hashing power supporting it, as well as the largest share of investments. It is the most watched cryptocurrency and therefore the most vetted. Another advantage that makes Bitcoins stand out is the fact that they are accepted by merchants all over the world. All this add to the network's credibility and the currency's power to stay. 



3. Other altcoins are doing a lot of innovations but Bitcoins remains the most trusted and the focal central point of innovation. 

4. Technically from an investment point of view, Bitshares have a lot in common with ethereum and dash, more than what these two altcoins have in common with other smaller altcoins. Some of the most actively trading altcoins in the market today have valuations of as low as a thousand dollars, with a daily volume of tens of dollars, whereas, bitcoin's valuations are measured in billions. 

5. Most of the coin trading markets use Bitcoins to purchase other altcoins such as Ethereum, Dogecoin, Litecoin etc. Any trader intending to purchase other altcoins must have sufficient Bitcoins in their wallet. There are also Visa and MasterCards that transform bitcoins into fiat money. This feature is not available in any other altcoin. 

BitShares are the best investment choice since it is the oldest altcoin in operation and because every other altcoin's value is based on Bitcoins value. 

Underrated Technologies



Our society has reaped the rewards from the industrial revolution, as well as the first wave of technological revolution that came right after it. Some of the technology types we use today are awe-inspiring, even though we have started to take them for granted. Technology is awe-inspiring in every way possible, and this list will go over the top 4 most underrated technologies.

#4 FIBRE OPTICS

What makes fibre optics so intriguing is how this technology dates back all the way to the year 1840. At that time, Alexander Graham Bell developed the technology to transmit voice signals over an optical beam. We later came to know this technology as the "telephone", or "landline" as it is often referred to in this day and age.

In the Internet world, fibre optics have only just begun to gain mainstream traction. Higher internet speeds allow us to share and gather information more quickly, although fiber optics are not available in every part of the world just yet. Since these cubes or are immune to electrical interference, they are perfect for computer networking in general. Moreover, a fibre optic connection is considered to be more secure.

#3 NANO ROBOTS

The term nano robots can be found in better sci-fi novels and TV shows these days. Contrary to what most people would believe, however, nano robots are very real and already exist among us. To be more precise, these robots are often used to determine drugs to the correct part of the body of patients suffering from terminal cancer. A very powerful technological feat that should not be underestimated by any means.

#2 THE INTERNET OF THINGS

A lot has been said and written about the Internet of Things, despite this technology still being in the very early stages of mainstream traction. Objects who can communicate with other devices over the Internet is a very novel concept, yet it also poses quite a few security challenges. Rest assured a lot more news will come out of the IoT sector in the coming years, as more of these devices will make it into mainstream homes and locations all over the world.


#1 PROSTHETIC LIMBS

In the year 2017, it almost seems straightforward to replace a missing limb with a prosthetic version. Up until a decade ago, such a concept was impossible to comprehend, as losing an arm or a leg would mean that functionality would be lost to us forever. Thanks to major advancements made in health care, prosthetic limbs have become a normality in recent years, mainly because they are starting to look very real.

Moreover, the early generations of prosthetic limbs were never designed to let its users "feel" anything in the traditional sense. This situation has come to change as well, thanks to DARPA's hard work of implementing neurotechnology. With realistic-looking prosthetics which become more powerful in functionality as time progresses, the future of prosthetics is looking very bright.

Anonymous Currencies Might Limit Financial Access



A recent report states that Bitcoin isn’t anonymous enough, and to an extent, the report is correct. While part of Bitcoin’s reputation has been built on the notion of privacy, the truth is that the blockchain records every transaction in real time, and nothing can escape its shuttering technology. In the long run, no matter how private Bitcoin claims to be, there always seems to be an open window to one’s financial history.

But one has to wonder if this isn’t a bad thing. Two of the cryptocurrency world’s most recent additions, Zcash and Monero, tout complete anonymity for those looking to remain duly private, but there seem to be issues emerging from the backend, and many investors and crypto-enthusiasts are having a hard time deciding where they stand.

First off, let’s look at criminal activity. Anonymity is often showered with praise, but when something is completely hidden like this, it can potentially give rise to back-door dealers looking for ways to exploit any lagging visibility. Monero, for example, is often labeled as the most popular cryptocurrency amongst drug purchasers on the dark net. Many regulators arguing against the notion of completely anonymous digital currency trading feel that the situation is likely to give rise to another Silk Road, only this time, things may be a little harder to shut down.

Zcash is another financial entity that claims to offer new waves of privacy. Again, good for some, criticized by others. Zcash recently hit new heights on cryptocurrency exchange Poloniex, hitting the $2 million per coin mark, but many argue whether this was real or caused by error or platform manipulation. If that’s the case, there’s certainly cause to worry. It was this same kind of manipulation that fired bitcoin into the $1,000 range in 2013 prior to the sudden collapse of Mt. Gox.

Lastly, the likelihood that a government or legislative system would ever be willing to regulate or fully allow the trading of anonymous currencies is particularly slim. While this may sound positive at first (cryptocurrencies were designed to offer independence), access to digital currency for third world and developing nations could wind up limited in the near future. It’s precisely because Bitcoin isn’t fully anonymous that it probably has the highest chance of ever going mainstream and reaching acceptable terms on a global scale.

As consumers, we have to ask ourselves which we’d prefer – true anonymity, or higher monetary access? The independence these currencies claim to provide is what gives us such a choice in the first place.

Will Bitcoin Have Its Moment in the Trump Era?


History tells us that no international monetary system lasts forever. And as Barry Eichengreen, the leading thinker in this arena, has repeatedly reminded us, those systems tend to collapse very quickly, whether it was the dominance of Rome's coins, the British pound's status as the common unit of international trade, or the various periods in which the world aligned around the gold standard.

The same will be true for the dollar's unofficial status as the international reserve currency. Its hegemony will at some point disappear and, when it does, the fall will be swift as the world scrambles for a new commercial anchor.

Below I will make the case that the trigger for this decline, whether it happens in the next four years or not, could well have been put in place last Tuesday. A Trump presidency could hold the right ingredients for a dollar collapse.
I will also argue that this time, when the dollar system collapses, it won't be replaced by another outdated fiat currency like the euro, yen or Chinese yuan. Neither will we go back to a precious metals standard, however much gold bugs hanker for it.
In the interim, we may anchor world trade to a transitional, multilateral combination of these paper and commodity currencies, but soon enough it will prove to be too unwieldy and out of touch with a changing global economy.

The fact is we now operate in a digital economy in which economic activity is increasingly decentralized, with transactions happening peer-to-peer and, when the Internet of Things is in place, machine-to-machine. That online, decentralized economic architecture will require a digital, decentralized system of monetary exchange that bypasses the inefficient financial intermediaries of a broken banking system.

The solution might not be bitcoin per se, but the distributed, network-run system of value transfer that it represents will, I believe, provide the template for the future model. It's one possible explanation for why the digital currency got a bump on Tuesday evening through Wednesday.

Change is coming
Why might Trump set this chain of events in play? To be sure, we don't know what changes the next president will introduce, but he has definitely stoked uncertainty around the direction of US policy. And uncertainty, the enemy of efficient markets, can often have a self-fulfilling effect.
That's an unsatisfying answer, however. So let's also break down some of the ideas that Trump has floated and how they might change the international perception of America's commitment to the dollar-based international system:

Rights determined by ethnic background
Trump suggests we should discriminate against external foreigners (Muslim visitors to the US), domestic non-citizens (undocumented Hispanic immigrants) and domestic citizens (judges deemed unfit to serve for being of Mexican descent.) This is not just a moral issue; it goes to the heart of whether the law is impartially upheld in the US.

Blockchain: Why the 'Big Guys' Can’t Win


Matthew Spoke is CEO and founder of enterprise blockchain startup Nuco. He is a bitcoin and ethereum enthusiast, who has previously worked with Deloitte with the aim of advancing the use of smart distributed protocols.
In this opinion piece, Spoke looks at moves by tech industry incumbents to capture the emerging blockchain market, and offers a warning for the eventuality that they succeed. 

Chess pieces
There's a seemingly obvious marriage happening right now between two incredibly important Internet technologies, one that promised to make web businesses more scalable and organizations more efficient (which has happened to a large extent), as well as holding decentralization and disintermediation as the ultimate objective (on which the jury is still out).
Earlier this year, I wrote a piece about the "Race Towards Irrelevance" that seemed to be taking place among traditional organizations whose markets and business models stand to lose from the adoption of decentralized systems. Primarily, I was referring to some intermediary companies in the financial services industry who will struggle to redefine their value propositions as blockchains become more commonplace.

What I failed to include in my prior ramblings was that it's not only traditional industries and businesses who face this risk. Similar to the attention and investment that has poured into the "blockchain industry" from financial services firms, there are a number of global scale technology vendors positioning themselves to dominate this market – or, to a skeptic, centralize it.

I'm referring to "the cloud" and "the blockchain", two terms which should more accurately be used in the plural sense.

Decentralization is key
I'm not suggesting that cloud computing is not well suited to underlie blockchain infrastructures.

On the contrary, in many cases, there's an obvious match that allows for efficient scalability, robust node security and light weight onboarding, among other benefits. But (and this is a big but) these benefits quickly become irrelevant if we forget about the need for appropriate decentralization. Naturally, it's no surprise that the same companies who, to a large extent, brought us the mainframe and the PC, want a piece of the blockchain action. It's also no surprise that these same companies are already in the process of capturing large parts of the emerging blockchain market.

As the old adage goes: "nobody ever got fired for buying [insert big tech company here]."

In general, I think the entrance of big tech companies into this domain has had a positive impact. It has helped bring much needed credibility and reaffirm the importance of these new technologies. That said, as markets consider their adoption, we should encourage an objective analysis as to the appropriate implementation of this technology so as to achieve its intended outcome.
Although there are many reasons to trust the competency of  prominent technology vendors and the integrity of their systems, which have been proven for decades in other domains, let's keep in mind that the intended purpose of this paradigm shift is to eliminate the need for trust. Objectively, this means that a blockchain cannot be dependent on a single vendor's infrastructure or security.

The Umbra Marketplace



Wіth thе аdvеnt оf сrурtосurrеnсіеѕ, рrіvасу hаѕ gоnе to lеvеlѕ wе wоuld nеvеr have thought оf juѕt ten оr twеntу уеаrѕ аgо- but dеѕріtе аll of that, thеrе are still issues wіth рrіvасу еvеrуwhеrе. Yоu nееd to tumble аnd mіx coins аnd mаkе nеw wallets juѕt to bе able tо ѕеnd аn 'аnоnуmоuѕ' trаnѕасtіоn that can bе trасеd rіght bасk to its ѕоurсе- whу not just hаvе a ѕіmрlе рlаtfоrm where all оf that is removed, and security іѕ ѕtіll there? Umbrа dоеѕ juѕt thаt, and іf you're interested іn a platform like it, ѕtісk wіth us.

Encrypted Mеѕѕаgеѕ
Mаnу рlаtfоrmѕ like Skype аll hаvе оnе major flаw- аnd thаt is the fасt thаt thе IP of thе реrѕоn you аrе chatting with саn easily be retrieved аnd uѕеd. Yоu dоn't wаnt a DDOS аgаіnѕt уоu, оr mаlісіоuѕ things wеrе dоnе, rіght? Umbrа mаkеѕ thіѕ еаѕу and ѕесurе with ѕеаmlеѕѕlу easy trаnѕfеrѕ- аll уоu need іѕ thе аddrеѕѕ and a private key frоm thаt аddrеѕѕ, аnd уоu аrе ready tо go. All transfers аrе heavily encrypted, ѕо there іѕ nо nееd fоr mіxіng, unlike Bitcoin. Nоtе that уоu can transfer your funds from a рrіvаtе аddrеѕѕ to a рublіс address and vice-versa; bу uѕіng thе public аddrеѕѕ trаnѕfеrѕ, you're gеttіng ѕlіghtlу bеttеr ѕuрроrt thаn wіth thе Bіtсоіn platform, but private іѕ an еntіrеlу different ѕtоrу.

Nоw that we've gоttеn thаt оut оf the wау, уоu саn еvеn mаkе ореn сhаnnеlѕ and groups wіth Umbrа- ѕіmіlаr to Teamspeak оr Mumblе. Yоu саn discuss whаtеvеr уоu wіѕh tо dіѕсuѕѕ on that platform, and everybody hаѕ ассеѕѕ- іt'ѕ all trаnѕраrеnt. Or if уоu wіѕh, you саn opt for private channels that are invite-only- thе роѕѕіbіlіtіеѕ аrе еndlеѕѕ. Yоu can even Direct Mеѕѕаgе wіth Umbrа- thеу рrоvіdе a great mеѕѕаgіng ѕуѕtеm fоr уоu to ѕеnd mеѕѕаgеѕ, аnd аѕ always, іt'ѕ соmрlеtеlу еnсrурtеd аnd соnѕtаntlу bеіng uрdаtеd fоr your соnvеnіеnсе.


Thе Currеnсу
As with аll сrурtосurrеnсіеѕ, thеrе hаѕ to bе thе main сurrеnсу bеіng used wіth transfers- іn thіѕ case, it's Shаdоwсаѕh- ѕіmіlаr to Mоnеrо, Umbrа'ѕ Shаdоwсаѕh uѕеѕ duаl-kеу addresses and rіng ѕіgnаturеѕ that аutоmаtісаllу 'tumblе' соіnѕ tо make sure transactions аrе соmрlеtеlу private- аll with a tоuсh оf a button. Like we mеntіоnеd before a few ѕеntеnсеѕ аgо, Umbrа hаѕ a рrіvаtе and public ассоunt- you саn ѕtаkе еаѕіlу wіth thе public ассоunt balance (note that thіѕ іѕ nоt соmрlеtеlу аnоnуmоuѕ; for соmрlеtе ѕесrесу, you mау want tо use thе private ассоunt) аnd ѕеnd ѕtеаlthу fundѕ tо whoever уоu wіѕh tо ѕеnd thе funds to.

And аll оf іt is transferrable wіth a touch оf a buttоn- you won't gеt stuck coins with Umbra! Aѕ ѕuсh, уоu wіll bе аblе to create digital mаrkеtрlасеѕ wіth thіѕ соіn using its аnоnуmоuѕ ѕеndіng features- juѕt lіkе wіth Mоntеrо; we expect this соіn wіll bе adopted оntо dаrk wеb mаrkеtѕ; іt'ѕ nоt a guаrаntее, but it's probably a gооd сhоісе fоr thоѕе ѕіtеѕ since this соіn іѕ ѕо рrіvаtе. If you want еvеn mоrе added security, bесаuѕе thеrе'ѕ аlrеаdу so mаnу bаѕіс fеаturеѕ іnѕіdе оf it, you саn еvеn furthеr еnсrурt dаtа to mаkе уоur ассоunt аnd mеѕѕаgеѕ even mоrе unсrасkаblе! Wіth so mаnу features аddеd іntо іt аnd ѕо mаnу wауѕ tо uѕе іt, Umbrа will bе a very uѕеful соіn іn thе futurе, especially fоr those whо lіkе keeping their data іntасt and unсrасkаblе.

ShadowCash Specifications

  • Block time: 60's
  • Difficulty re-target: every block
  • Nominal stake interest: 2% (PoSv3 – static inflation annually)
  • Min. stake age: 8 hours (no max age)
  • P2P port: 51737
  • RPC port: 51736

Why Israel's Banks Will Unite Over Blockchain

The general consensus is that there is huge potential in blockchain technology. Some say it may be as big as the Internet itself, doing for transactions of value what the former has done for transfers of information.

 

Blockchain could completely alter traditional industries, changing the face of financial transactions, legal contracts, verification mechanisms and even voting procedures. Where consensus is lacking, there possibly lie the future steps of blockchain.

What can we expect to see next? Our hunch: we are entering the phase of the institutionalization of blockchain, and it will be led by the financial system. Yes, by the banks.

The potential advantages to using blockchain are obvious. Most significant is the ability to remove the middleman, and allow for faster, cheaper and more secure transactions. This could prove to be economically beneficial to the financial system which facilitates billions of transactions every day.

 

No less important is the advantage it provides for developing countries, where trust in the authorities is relatively low, and especially for those which suffer from high levels of corruption. There, people are looking for different ways to realize their civil liberties, including voting, identity verification, registering land ownership, etc. Blockchain technology – direct, decentralized, and secure – provides a potentially unprecedented and private alternative to these.

 

Early adoptor

Arguably one of the most vibrant blockchain industries currently is in Israel. A combination of expertise in cryptography and Big Data gained in the world of security and defense, combined with a passionate and talented entrepreneurial ecosystem has led a growing number of companies to lead the way to the next big thing in the blockchain domain.

 

These companies include startups like Synereo (a decentralized communication platform), Simplex (a payments service working on enabling bitcoin purchases with credit cards), Colu (Colored Coins).

Yet, careful observation of the Israeli ecosystem shows that it comprises much more than early-stage startups. Major Israeli financial institutions, perhaps lacking the sheer magnitude and market share of their American and European counterparts, are showing increasing interest in various applications being developed by these younger companies.

 

Several banks (such as Bank Hapoalim, Leumi and Citi Bank) have launched accelerators with infrastructure designated to support early-stage initiatives. They offer much-needed funding, technical support and the opportunity to interact and collaborate with the banking system. This synergy could prove to be extremely valuable, as one of the major hurdles facing entrepreneurs in the field is developing products and solutions that could be adapted for, and used by, the highly conservative, heavily regulated environment such as that in which the banking system operates.

 

In addition, more investors are being drawn into the industry, incentivizing promising ventures and adding fuel to the growing excitement and expectations surrounding the field. Recently, we're also seeing increased involvement of lawyers and accountants in the sphere, discussing implications and working with their clients on some of the challenges associated with blockchain.

 

Regulation driven

One cannot ignore the resemblance between the current growth in the industry and the evolution of the Israeli cyber industry roughly a decade ago. What began as a small group of cyber startups soon became a deluge of hundreds of companies, providing innovative technology and multi-tier services around the globe. Similar, but not the same. Unlike the cyber industry, the blockchain industry is lacking crucial tail-wind from the regulator.

Almost two decades ago, the Israeli regulator came to the understanding that cyber was becoming a major new front. The main driver was the concern surrounding cyber-attacks on critical national infrastructure and security installations. The sharpest minds from the Israeli defense industry convened to discuss a national realignment to ensure Israel's ability to confront future challenges.

 

Eventually the government adapted a combined approach, emphasizing the development of human talent, investment in technology, building institutions, allocating funding and providing a regulatory environment that allowed the industry to thrive. All together this has led to an unprecedented boost to the Israeli cyber industry, a push that Israel is still reaping benefits from to this day.

This is not yet the case with blockchain. Regulators worldwide remain skeptical of virtual coins that circumvent banks and government authorities, and seem prone to criminal exploitations. We've seen that SilkRoad, Mt Gox and the recent Bitfinex scandal has not done anything to defuse this stereotype.

 

But resistance may be more deeply rooted than mere concerns over criminal misuse and consumer protection: a decentralized alternative to centuries-old systems of centralized governance and control is not something any regulator will be able to swallow too easily. Likewise, Israeli regulators are still 'sitting on the fence'. Given that both future uses, and implications of blockchain, are unpredictable, this is to be expected.

 

However, the regulator provides an indispensable support system, including supervision mechanisms and an appropriate legal framework. Such regulatory backing can bolster consumer awareness, understanding and confidence in the new technology and accommodate the move of blockchain from fringe to mainstream. But who will lead the charge?

 

Meeting of worlds

Various businesses worldwide are already beginning to take note of the potential economic value in using blockchain technology in myriad applications. And as competition grows, an even larger circle is beginning to feel the pressure to follow suit. Although the movement is certainly expanding, this grassroots growth may not suffice to live up to the disruptive potential of blockchain. This is where the big banks come in.

 

Looking back at the major developments over the past year, there is no doubt that the ripest industry for blockchain is the financial system. The big financial institutions would have the most to gain – or lose.

 

It is, however, the most highly regulated industry. Therefore, authorities need to deepen their engagement with the various applications of the technology with the aim of creating an appropriate regulatory framework applicable for the technology, whilst increasing consumer confidence, but without undermining the economic model of the financial system.

And who is best qualified for that role if not the financial system itself? It has both the knowledge and capacity to conduct meaningful dialogue with the regulator on the one hand, and the economic incentive to cut down costs by using blockchain on the other. If that happens, we could soon find ourselves in an era of institutionalized blockchain, where cutting-edge technology meets conservative infrastructure to generate a wholly new and fascinating system.

Smart contracts for bitcoin

 

As we approach the release date for the SEGWIT (Segregated Witness) update to the blockchain, we were pleased to see a complete update from the BitcoinCore team about how this update will affect the network, what will change and where are we going to proceed in the future.

 

For those of you who don’t know what SEGWIT is software that is used to produce transactions for which it separates the TxID transaction signatures from the rest of the data, thus Segregated Witness. This allows miners to place the transaction signatures outside of the block-chain.

 

Pros and cons

There are benefits that we will immediately be able to enjoy once the update has been complete. The first benefit is that malleability will be ultimately eliminated, and third-parties won’t be able to interfere with the transaction process, and transaction ID’s will be hidden from everyone, while at the same time allowing the transaction software to calculate the transaction without reference to the witness. This update will open up development paths for Bitcoin, by eliminating security holes and lowering the complexity of smart contracts for Bitcoin.

 

The second benefit is that capacity of transactions will modestly increase. New-style blocks can hold more data than current versions, which means that the amount of transaction data will increase per block. That doesn’t mean that witness data is stored off-chain, but rather following this soft-fork, the data will start being signed on the new-style blocks (which include the old-style block and extra space).

Overall this update will simplify things for developers to produce new features for Bitcoin use and it improves the efficacy of running full nodes. We are happy to see that long-term benefits will come out of this update.

 

According to the blog post that the BitcoinCore team released on June 24th, 2016, SEGWIT has been extensively tested by Bitcoin developers, and this was necessary because of the way SEGWIT changes parts of the Bitcoin system. One of the most important change happens to the consensus rules that full nodes use to agree on the current state of the ledger. That shift is the primary reason for such tests to be performed, because if we come to a position where the network stops agreement on the current state, Bitcoin transactions become dangerous.

 

Other notable changes happened to the peer-to-peer code that’s used by the network to distribute blocks and transactions. (This was all included in the 0.13.0 BitcoinCore Update, but it’s not going to happen be accepted on the main network until at least ver. 0.13.01) SEGWIT blocks and transactions are different from previous versions, so it’s important that the network is capable of distributing both SEGWIT and old-style data.

The complete update added about 7800 lines of code to the proprietary software, with the majority of lines relating to the SEGWIT capabilities. A large part of the code update related to the automated testing system, which enabled Bitcoin developers to test out the features on a separate network extensively, promptly called “testnet”.

SEGWIT was initially implemented by the Elements Project, led by Pieter Wuille. This initial implementation was happening in April through June of 2015. It was never intended for the main blockchain but is actually considered a side-chain. A few months later in October 2015, Luke Dashjr describes a method that allows SEGWIT to be implemented by using a soft-fork and they team up with Wuille to work on the implementation that is going to be completely compatible with the main blockchain.

 

The first version of this new code comes out in December 2015, close to the end of the year. (New year, new updates!) It’s implemented and tested extensively for the whole duration, ranging from the beginning of the year to August 23rd, 2016, when the BitcoinCore team launched the update.

 

Within this update, SEGWIT is completely implemented, but it’s sitting there in a passive state, only used for testing purposes. Like I mentioned before, it will become operational with the next update! The Bitcoin Core developers are finally convinced that implementation of SEGWIT will not cause any adverse effects and it won’t negatively influence Bitcoin, it’s value and reliability.

 

SEGWIT won’t change a lot about how you perceive Bitcoin transactions happening, well… There is one pretty perceptive change, but I’m sure you’re not going to mind it.

 

Transaction fees are going to get a little bit cheaper.

I’m sure we all can appreciate spending a little bit less on our transactions. But wait, what about Bitcoin smart contracts?

Yes, I’ve mentioned them. Well SEGWIT will not introduce any smart contracts, but it’s the first step allowing the development of the capability to support these.

 

It solves a crucial problem that currently is affecting the creation of smart contacts and script functioning. It opens up the doors to new development paths and creates new opportunities that were previously inaccessible due to security loopholes and visibility of transaction identifiers. In the future, smart contracts and scripts will use MAST, an acronym for Merkalized Abstract Syntax Trees.

 

A short description of MAST is that it allows the creation of conditional Bitcoin scripts to be utilized. For now, it’s being reserved for the extremely tech-savvy people, the developers to use these tools and potentially make them available to Bitcoin users. MAST is going to be available for use following the SEGWIT update in the future.

OKLINK MAKES US$100 MILLION OF CROSS-BORDER TRANSFERS FREE FOR GLOBAL REMITTANCE COMPANIES



Hong Kong, 12 October 2016 – OKLink, the global blockchain money transfer network, announced today that it will subsidize all fees on the first US$100,000 of cross-border transfers for every partner on the OKLink network, up to a total of US$100 million. The initiative incentivizes money transfer companies to offer their customers the cheapest, fastest, and most transparent global remittance services.

Hong Kong-based OKLink empowers transfer and delivery companies to provide senders and recipients a superior experience on low-value transfers in their local currency. OKLink’s platform is built on the trust of the blockchain, using digital assets to settle among participants in an instant, secure, and transparent manner. It eliminates the need for pre-funding by settling every transaction in real-time using stable and native digital assets.

OKLink currently offers payouts in fifteen countries across Asia, the Americas and Africa.

Jack C. Liu, Chief Strategy Officer at OKLink, said, “The world's financial transfers run on antiquated technology built nearly half a century ago. Slow, costly, and favoring large sized transactions, these qualities are in contrast to the emerging payment needs of today’s ever-connected global economy. OKLink believes in a future where small-value cross-border transfers will be as simple, fast, and cheap as a text message. “We are thrilled with the reception OKLink has received from industry leading companies and we hope to support their growth further with this incentive promotion.”

Starting from today, participating companies on OKLink will be able to service individual payouts at the mid-market exchange rate for the first US$100,000 of transactions. Transactions under US$500 will qualify for the subsidy. Eligible companies must sign up by December 31, 2016 and have until March 31, 2017 to complete the free transfers.

Coinsecure, Coins.ph, Rebit, MOIN.Inc, Coinone, Coinplug, Coincheck, Bitoex and BitPesa, are among the early companies to join the OKLink network and take advantage of this initiative.

A selection of quotes from OKLink partner companies is provided below.

Mohit Kalra, CEO of Coinsecure in India, said, “India holds the largest share of remittances around the globe with over US$70 billion of inward remittance in 2015 at an average fee of 6 percent.  What Coinsecure and OKLink plan to do - is going to be phenomenal.”

Ron Hose, CEO of Coins.ph in the Philippines, said, “We are very excited to allow our existing user base of over 500,000 customers in South East Asia to remit funds to Japan, China and South Korea using OKLink's platform, supporting our joint vision of providing cheaper cross-border payments and remittances across the region."

John Bailon, CEO of Rebit in the Philippines, said, “Rebit first pioneered using Bitcoin for remittances. We’re very excited to join the OKLink network, whose resources and influence will create a strong alliance of companies committed to making Blockchain remittances work for any customer, anywhere in the world.”

Ian Suh, CEO of MOIN.Inc in Korea, said, "OKLink has developed a new and revolutionary way to solve problems in the traditional money transfer system. MOIN is very proud to be a partner of OKLink. The partnership will enable Korean people to send money abroad cheaper, faster, and more conveniently. OKLink is going to become the future of global remittance, connecting the world much closer."

Wonhee Shin, CTO at Coinone in Korea, said, “This is a very meaningful milestone for blockchain technology, which is closely watched by regulators and practitioners from all over the world. Finally the technology has moved away from the concept phase and into the real usage phase.”

Joon Sun Uhr, CEO of Coinplug in Korea, said “Coinplug is very excited to work with OKLink in building the next generation global settlement network. We expect the market to grow significantly in micro-sized overseas remittances and we are preparing to be a dominant early mover with this partnership with OKLink.”

Koichiro Wada, co-founder of Coincheck in Japan, said, “We are excited to partner with OKLink. We believe blockchain based remittance will have a huge impact on the finance industry especially for people who do small transactions on a regular basis.”

Titan Cheng, CEO of Bitoex in Taiwan, said, “OKLink is an important partner for money transfer companies in Asia. Bitoex has more than 5000 locations in Taiwan. Our partnership with OKLink will help us expand the scope of our global remittance offerings and bring an unparalleled customer experience for the 600,000 expatriates in Taiwan."

For any questions about the program, please contact partner@oklink.com.

- Ends -

About OKLink
OKLink is a Hong Kong-based global blockchain money transfer network that gives every remittance and payment company the same cost advantage, global reach, and speed that took Western Union many decades to build. The company leverages the trust of the blockchain to connect and enable transactions between transfer and delivery companies worldwide using blockchain anchored digital assets and multi-signature technology.

Launched in August 2016, OKLink is growing rapidly with a payout network that is currently available in fifteen countries across Asia, Africa and the Americas. OKLink is a part of the OKCoin family of companies.  OKCoin is the largest digital asset exchange in China. The company raised US$10 million in its Series A round. For more information, please visit oklink.com or follow the company on Twitter @OKLink.
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