Ethereum: We need to have cryptocurrency wallets that are both of those user-friendly and secure

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The stability of cryptocurrency wallets has lately come under stability with amplified variety of hacking reports. Scientists have revealed that even components wallets — which are made for extra stability — are susceptible to hacking.

As this kind of, Ethereum co-founder Vitalik Buterin thinks there is a need to have to improved secure cryptocurrency wallets for regular users — and the Ethereum Foundation is prepared to commit in any challenge operating to that goal.

The foundation had before introduced a grant for tasks that help boost the scalability, usefulness, or stability of the Ethereum community.

Buterin mentioned that the stability flaws he had pointed out in an article back again in 2013 continue on to persist today.

The youthful entrepreneur mentioned that it is unrealistic to rely on regular users to secure their individual wallets. Instead, he thinks, the engineering has to boost.

It does not look especially practical to inquire the average non-complex user, or even the average complex user, to in no way make a error,” Buterin even more explained. “Thus, what we genuinely need to have in wallet stability, from both of those users and builders, is a transform in paradigm.”

He also extra that:

Somewhat than making an attempt to continually patch up our electronic walls in an effort and hard work to make them unbreakable, what need to have to figure out that any unique approach utilized to secure one’s resources can usually potentially be circumvented by a error on the user’s part, and a error is guaranteed to come about at some point. From that viewpoint, the only practical approach is noticeable: defense in depth, utilizing many layers of stability and granularity to guarantee that no one assault can induce all of our resources to get stolen – or dropped. 

This was the time when USB components wallets were being just receiving out — quickly ahead to today, Buterin feels that stability of cryptocurrency wallets is continue to not remaining taken very seriously.

He gave the examples of Mt. Gox, Coincheck, Equifax and Ashley Madison to remind all people why centralization “sucks”. He also pointed to the Cambridge Analytica fiasco to remind why weak user experience is continue to a difficulty.

Buterin then extra that present stability measures are insufficient because of:

  • Lack of out there selections
  • Lack of oracle suppliers for the semi-centralized selections
  • Lack of standardized assistance across wallets
  • Lack of superior very first-class-citizen assistance for multi-signature in Ethereum

With this in intellect, Buterin explained that Ethereum will be joyful to fund any tasks operating to resolving these difficulties.

Buterin even more explained that cryptcurrency can act as an excellent ‘trial-by-fire’ zone to take a look at new stability engineering.

If a engineering can endure the intensive crypto environment which is exceptionally susceptible to anonymous assaults, then they are undoubtedly superior enough to be rolled out in more mainstream contexts.

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Bitcoin (BTC) Compared To The Young Internet Of The 80s

The King of the Crypto-Verse, Bitcoin (BTC) is still holding steady at above $8,000 and currently trading at $8,188.  According to technical analysis this morning, Bitcoin has a healthy support at a new level of $7,900 with a possibility of testing the $8,400 to $8,500 levels. These current values are a long way from what the value was over 9 years ago when Bitcoin was first introduced to us as an open source software. The earliest value comparison for Bitcoin was 10,000 BTC for 2 Pizzas from Papa John’s in May 2010. Prior to that, Bitcoin was worth pretty much nothing.

One of the first supporters, adopters, contributor to bitcoin and receiver of the first bitcoin transaction was programmer Hal Finney. He downloaded the bitcoin software the day it was released, and received 10 bitcoins from Nakamoto in the world’s first bitcoin transaction on 12 January 2009. The value of the first Bitcoin transaction was negotiated by individuals on a bitcoin forum with the famous two pizza transaction of  10,000 BTC earlier mentioned.

It is with such a premise that CNBC Fast Money’s Brian Kelly, was quoted as referring to Bitcoin as to being like the internet in the 80s with early companies such as Cisco and Microsoft trailblazing in the industry. For Brian Kelly, Bitcoin is neither a company nor a stock. This description fits the bill of what the inventor of Bitcoin – Satoshi Nakamoto – envisioned for the cryptocurrency. Satoshi wanted the users to have full control of transactions and not financial institutions.

Going back to the to the internet of the 80s, rudimentary devices such as cassette tape recorders were used to store data because the much famous floppy disk had not been designed by Steve Wozniak. Internet connection speeds were at a merger 300 bits per second if you were lucky. Current speeds range from 1.0 Mbs (1,024 Kbps) to 2,000 Mbps currently being offered by Comcast.

This means if we are in the 80s of cryptocurrencies and blockchain, the future looks pretty bright for the crypto-verse. With the added fact that hardware and software technology has been improving on a daily basis, it is safe to say that cryptocurrencies and blockchain technology is the future of global technology and finance moving forward. It is not impossible then, for the Bitcoin price predictions of $25k, $91k and $250k floating around on the web.

[Photo, first versions of the Mac. Source: cnn.com]

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NASA Commences Investigation On Ethereum Blockchain Technologies

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Crypto Exchange Kraken To End Services In Japan, Cites Rising Costs Of Business

According to an emailed statement, crypto exchange Kraken is ending its services in Japan, just after Binance decided to leave the country for Malta.

Crypto exchange Kraken will end its services in Japan, according to an emailed statement, Bloomberg reports today, April 17.

Kraken, which it has been operating in Japan since October 2014, said in the statement that its decision to shut down services in the country is based on the rising costs of doing business there. The crypto exchange is currently ranked number ten on the top crypto exchanges by 24 trading volume on CoinMarketCap, with around $188 mln in trades on the day to press time.

According to the exchange’s statement, Kraken will close trading in Japan around the end of June, 2018. However, given its reason for leaving the country, the exchange did not rule out re-entering the market in the future:

“Suspending services for Japan residents will allow us to better focus on our resources to improve in other geographical areas […] This is a localized suspension of service that only affects residents of Japan and does not impact services for Japanese citizens or businesses domiciled outside of Japan.”

Twitter user RubenFrosali tweeted a photo today of reportedly the emailed statement in full:

Japan’s Financial Services Agency (FSA) began on-site inspections of the country’s 15 as-of-yet unregistered crypto exchanges earlier this year, after Japanese crypto exchange Coincheck was hacked and lost around $534 mln in NEM that was reportedly stored on a hot wallet.

As a result of these inspections, the FSA issued business improvement notices to a total of eight exchanges, and temporarily suspended operations at three more.

Two Bitcoin (BTC) exchanges in Japan chose to shut down instead of work with regulators for compliance, and crypto exchange Binance, ranked number one on CoinMarketCap for 24 hour volume, decided to open an office in Malta after receiving a notice from the FSA for not being registered.

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High Excitement Ahead Of Verge (XVG) Partnership Announcement

In less than 5 hours and at 10am Eastern American time, the team at Verge (XVG) will be making an official press release regarding the much anticipated new partnership that they have been able to secure. Stan Faas, who is part of the core team at Verge and the main website developer of the project, is quoted as saying the following on Medium.com:

“This partner owns one of the largest payment processors on the internet with several hundreds of businesses routing their payment traffic through them. The partner is going to be supporting Verge Currency by rolling out a global marketing campaign with continuous marketing effort throughout the year.”

For the partnership to materalize, the Verge project had to raise a cool 75,000,000 XVG to cover the following:

  1. Cost of integrating into the partner’s extensive network of payment gateway and websites
  2. A massive marketing campaign to span the entire globe
  3. International press releases and news coverage
  4. Ledger Nano S and Trezor hardware integration
  5. And so much more

The beauty of the Verge project is the overwhelming support by its community members. This amount was raised in a short time period of 5 days and the Verge Team was very grateful of the efforts by loyal Verge community members .

What remains now is the announcement of the partnership at 10am as to which organization will be sealing the deal with the Verge Project.

Speculation is high that TokenPay might be that mysterious partner. This is hinged on the fact that TokenPay team members and those of Verge had met in Munich back in April 8th this year.

TokenPay describes itself as a  decentralized and self-verifying payment platform project that is based entirely on mathematics. It is designed to enable secure transactions between multiple parties. This aspect of security is in tune with Verge’s mission of offering the most secure transactions that can be on a public ledger or a private one through the user’s invocation of the Wraith Protocol.

But with tens – if not hundreds –  of possible companies that fit the bill of the earlier description by San Faas, we might as well have to wait for the announcement to find out.

The post High Excitement Ahead Of Verge (XVG) Partnership Announcement appeared first on Ethereum World News.

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Litecoin Price Analysis: LTC/USD Gaining Bullish Momentum

Litecoin Price Analysis LTC USD

Litecoin price is trading higher and broke the $135 resistance against the US Dollar. LTC/USD is gaining bullish momentum and it is heading towards the $140 level.

Key Talking Points

  • Litecoin price started a fresh upside wave and broke the last high at $135 (Data feed of Kraken) against the US Dollar.
  • There was a break above a key bearish trend line with resistance at $130 on the hourly chart of the LTC/USD pair.
  • The pair is likely to accelerate higher towards the $140 and $145 resistance levels.

Litecoin Price Forecast

There was a major bottom formed at $125 in litecoin price against the US dollar. The LTC/USD pair started a fresh upside wave and traded above the $130 and $132 resistance levels.

It opened the doors for more gains and the price moved above the $135 high. More importantly, there was a break above a key bearish trend line with resistance at $130 on the hourly chart of the LTC/USD pair.

Litecoin Price Analysis LTC USD

The price is now trading well above the $130 level and the 100 hourly simple moving average. It is gaining pace above the 1.236 fib extension of the last decline from the $134.80 high to $125.29 low.

It seems like the price may continue to move higher towards the $140 and $150 levels. A crucial barrier for buyers is near $140 since it is the 1.618 fib extension of the last decline from the $134.80 high to $125.29 low.

If the price corrects lower from the current levels, it may find support near the broken resistance at $135. Moreover, the $130 level is a strong support, followed by the 100 hourly SMA.

In the short term, the price is likely to accelerate higher above $135, and downsides could be limited. The technical structure is positive and suggests that the recent upside break above $135 was important.

In the medium term, it seems like a decent support base is forming above the $120 level in litecoin price.

Trade safe traders and do not overtrade!

*The market data is provided by TradingView.

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Kraken to Suspend Trading in Japan due to Rising Costs and Low Volume

Japan is a very important country to cryptocurrency companies. With its open-minded regulation and positive approach to cryptocurrencies, there are a lot of benefits to this region. Surprisingly, the Kraken trading platform is ceasing its service in Japan very soon. This sudden decision is the direct result of rising costs associated with offering services to local customers.

Kraken is Exiting Japan

This decision by Kraken comes as a big surprise to most cryptocurrency enthusiasts. The company is one of the few Western service providers offering services in Japan as of right now. That situation will soon change, allegedly due to rising costs of doing business in Japan. This decision is not necessarily permanent, as the company may come back in the future.

Considering how the company has been active in Japan since October 2014, Kraken had plenty of time to evaluate its position in the market. Suspending the services in Japan will let the company provide “better focus on other geographical areas”. Which countries those will include, remains to be determined. Kraken also confirms this temporary suspension only affects residents of Japan.

It also appears Kraken isn’t the most popular trading platform in Japan. Its BTC/JPY pair accounted for 0.07% of the company’s overall trading volume in the past 24 hours. The company also provides an ETH/JPY pair, which is even less popular. There are dozens of exchanges active in Japan who also provide access to both Bitcoin and Ethereum in exchange for the Japanese Yen.

No Impact on the Mt. Gox Process

Unlike most other exchanges, Kraken is allowed to operate in Japan without a license. As such, the company is a bit of an odd creature in the country. It is this lack of oversight which may hurt the platform’s popularity as of right now. The exchange will remove its services from the country by the end of June 2018.

As is always the case, speculation runs wild when news like this is made public. Considering Kraken’s position in the ongoing Mt. Gox investigation, it makes even less sense for them to suspend services in Japan. Halting the trading services in this region should not necessarily impact that ongoing process. For now, it remains to be seen how all of this will play out.

Despite the loss of this exchange, Japan remains one of the most crypto-friendly countries on the planet. The local government remains supportive of all different currencies and is even leaning toward legalizing ICOs. That latter development will certainly shake things up in Asia. Other countries, including China and South Korea, have made initial coin offerings illegal and a crackdown on them is imminent in Thailand.

 

Image from Shutterstock

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Blockchain Platform Prepares To Test Cryptocurrency Payment System In Major Shopping Mall

Retailers at a major mall will put a cryptocurrency payment system through its paces within days, in what a company describes as a world first.

A Blockchain-driven platform has announced it will begin testing a brand-new transaction system for cryptocurrency payments within the coming days.

Eligma says the beta version of its EliPay technology is going to be rolled out to selected retailers in BTC City, one of Europe’s largest shopping centers.

The company says that the Slovenia-based complex, which boasts more than 450 stores, will become the first mall in the world where cryptocurrencies can be used to buy products. Letters of intent have already been signed with several major retailers.

EliPay is one component of a platform with the objective of helping shoppers find the products they desire simply – with thousands of eCommerce platforms vying for their attention on a daily basis. This is going to be achieved through an artificial intelligence (AI) system that keeps track of transactions and makes recommendations based on past purchases.

For greater ease, Eligma’s users will have a single account which can be used to shop on multiple websites – eradicating the need for dreaded “forgotten password” emails while also ensuring they don’t need to enter their personal information every time they’re interested in buying from a new store.

Eligma says it has now concluded its presale, and the level of contributions successfully reached the company’s soft cap.

Dejan Roljič, the founder and CEO of Eligma, told Cointelegraph: “Both Blockchain and AI are in their infancy. This makes us pioneers of the economy of the future.

The fruits of our labor will become visible in the years to come, which is why the support of Blockchain communities and novelty embracers is crucial at this point.”

Eligma’s crowdsale begins

The company’s crowdsale commenced on April 17, with executives announcing that Ethereum’s price will be locked at $800 because of “volatile market conditions.”

Although this is higher than the market price, Eligma says this will help them “offset the exchange ratio drop that would hurt early contributors.”

The next phase of its contribution drive comes shortly after Charlie Shrem – described as “one of the most renowned representatives of the crypto community” – joined Eligma’s advisory board.

Meanwhile, in March, Mr Roljič helped his company win an award for best pitch at Zurich’s Crypto Summit 2018 – defeating 22 rivals.

In a new team video, the CEO and his team have explained the vision behind Eligma – with Mr Roljič saying that the platform is determined to “enable everyone to get the best offer that they or their household needs.”

With the company enabling shoppers to create an inventory of their items – with its AI system helping them learn when is the most financially suitable time to sell their second-hand, unwanted goods – adviser Andy Baynes said: “Eligma is one of those opportunities and innovations that hit the right time.

“People are now moving to online shopping first and traditional retail second. The next big wave is about doing that conveniently – and Eligma is all of those things.”

Mr Shrem, a founding partner of the Bitcoin Foundation, added: “What the team is developing is exactly what the crypto community needs after a decade: a way to move crypto from exchanges to enable us to use them to buy everyday stuff with systems like EliPay.

“This is the right direction to show the true value of digital currencies.”

Eligma says another pillar that will underpin its business model is loyalty, with the company gearing up to create a universal loyalty program that rewards shoppers in the platform’s utility token, which is called ELI.

The company hopes that this will help customers gain better value for money, and make fragmented loyalty schemes a thing of the past.

Eligma’s crowdsale is scheduled to end on May 8.

 

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

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Coinone Looks Beyond South Korea to Global Market in Indonesia

South Korea’s third-largest cryptocurrency exchange, Coinone, has set up in Indonesia bucking the trend of exchanges either branching out or going under in the hard knocks market.

Coinone Goes Global in Jakarta

South Korea was one of the bellwethers of the cryptocurrency market last year with one in five bitcoin transactions being handled in KRW even though it traded at a 20% plus premium.  Today though despite it still being one of the largest spaces in the market, severe regulatory practices have reduced trading to only 5 -10%  of what it was in January.

According to Business Korea the squeeze on the market since January highs has caused some Korean exchanges to either expand their service base or shutter their shops. Coinone, Korea’s third largest exchange, has decided to pack up and go overseas. The company announced that on April 16 Coinone Indonesia was entering the global cryptocurrency market. Based in Jakarta the company has submitted its preliminary registration and plans to start providing services to registrants from the end of May.

Coinone announced on April 16 that the company has made its entry into the global cryptocurrency market, establishing “Coinone Indonesia” in Jakarta. After the first preliminary registration from this date it plans to launch the service to registrants by the end of next month. Trading will be made available in 6 cryptocurrencies initially; Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin and Qtum.

With a population of 260 million Indonesia has the largest population in Southeast Asia and, according to a previous report on NewsBTC , INDODAX – the largest Indonesian cryptocurrency exchange which is set to overtake the Indonesian Stock Exchange in investor numbers.

Indonesia Struggles With its Own Regulatory Problems

Despite the diminished trading volume in South Korea since January, a re-launch in Indonesia which is experiencing its own regulatory growing pains is a bold move for any exchange looking to expand into the global market.

Bank Indonesia announced it does not recognize any digital currency as legal tender earlier this year, compelling all parties to avoid owning, selling or trading in them. This has paved the way for the kind of regulatory struggle which has been enacted across the globe as countries try and reckon with the growth of the industry versus the risks associated with cryptocurrency.

The central bank put out the following statement in January concerning its stance on Cryptocurrency.

“Owning virtual currencies is very risky and inherently speculative, digital tokens are prone to forming asset bubbles and tend to be used as method for money laundering and terrorism funding, so it has the potential to affect financial-system stability and harm the public.”

Still, there has been no movement in the regulatory process since the warning that never went so far as to outlaw trading cryptocurrency in the country.

 

Image from Shutterstock

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Ethereum Classic Price Technological Analysis – Etcetera/USD Could Increase Gains

Ethereum blog site

Important Highlights

  • Ethereum classic cost corrected reduce after trading as superior as $seventeen.01 towards the US greenback.
  • There was a split beneath a connecting bullish craze line with guidance at $16.sixty on the hourly chart of the Etcetera/USD pair (Facts feed through Kraken).
  • The pair stays supported on the draw back higher than $15.eighty and it could resume its uptrend.

Ethereum classic cost is positioned in a bullish craze towards the US Dollar and Bitcoin. Etcetera/USD may well trade in a variety higher than $15.eighty ahead of it tends to make the up coming go.

Ethereum Classic Price Resistance

There was a decent upside go in Etcetera cost higher than the $16.00 level towards the US greenback. The Etcetera/USD pair traded toward the $seventeen.00 level in which sellers emerged. A superior was shaped at $seventeen.01 from in which the cost commenced a draw back correction. It moved down and broke the $16.eighty and $16.sixty guidance amounts. Also, there was a split beneath the fifty% Fib retracement level of the past leg from the $15.05 low to $seventeen.01 superior.

More importantly, there was a split beneath a connecting bullish craze line with guidance at $16.sixty on the hourly chart of the Etcetera/USD pair. Having said that, the decrease uncovered guidance close to the $16.fifty level, which is a critical pivot zone. There is also a bullish craze line on the very same chart with existing guidance at $15.eighty. At the moment, the cost is testing the fifty% Fib retracement level of the past fall from the $seventeen.01 superior to $15.62 low. A split higher than the $16.40 level is essential for an upside acceleration toward $seventeen.00 or even bigger.

Ethereum Classic Price Technical Analysis ETC USD

The chart higher than implies that the cost is positioned nicely higher than the $15.eighty guidance. As very long as Etcetera is higher than $15.sixty-eighty, it may well trade in a variety ahead of creating the up coming go bigger.

Hourly MACD – The MACD for Etcetera/USD is getting tempo in the bullish zone.

Hourly RSI – The RSI for Etcetera/USD is at this time well higher than the fifty level.

Main Assist Amount – $15.sixty

Main Resistance Amount – $16.40

Ethereum Information

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