4 Advantages of Cryptocurrency and Blockchain Technology – CIOReview

4 Advantages of Cryptocurrency and Blockchain Technology – CIOReview

FREMONT, CA: Cryptocurrency transactions are represented by digital contracts that enforce agreed-upon details. When new groups of transactions are requested, they are processed in blocks and recorded in the ledger, which anyone can view.

Cryptocurrencies and tokens are the foods that sustain the blockchain-based ecosystems. They serve to meet the different concerns across markets, and they function in particular ways. Let’s have a look.

Cryptocurrency

Cryptocurrency provides a decentralized framework by removing intermediaries and allowing individuals to transact autonomously, peer-to-peer. Some of its benefits are:

Fraud Prevention: The technology behind cryptocurrency helps address fraud risk because transactions made on a blockchain are transparent and cannot be changed. Minimal

Transaction Fees: Because cryptocurrency transfers are peer-to-peer and require no centralized intermediaries, transaction costs are minimal and decentralized systems do not charge currency conversion fees.

Accessibility: Anyone can access crypto from anywhere without interference from a central authority, thanks to decentralization.

Instant Payments: Cryptocurrency resolves the frustration of increased transaction time as a matter of procedure by enabling nearly instant peer-to-peer transactions.

Blockchain Technology

Blockchain technology offers a more secure and trusted system than centralized financial systems with loopholes that can be taken advantage of, such as misallocation of funds and financial and equity gaps.

Security: Blockchain transaction records are distributed over a network of computers, making it extremely difficult for hackers to infiltrate. Additionally, security methodologies, such as mnemonics, help to protect crypto wallets.

Transparency: The blockchain’s transparent nature allows anyone to review transaction and then make decisions based on observable activity.

Decentralization: Blockchain technology offers a genuinely decentralized
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Metrix Coin: An Efficient Decentralized Proof-of-Stake (PoS) Cryptocurrency That Exhibits Many Benefits for Consumers and Businesses – GlobeNewswire

Metrix Coin: An Efficient Decentralized Proof-of-Stake (PoS) Cryptocurrency That Exhibits Many Benefits for Consumers and Businesses – GlobeNewswire

Brisbane, Australia, Nov. 06, 2020 (GLOBE NEWSWIRE) — Scalable, Flexible and Applicable to Multiple Use-Cases Metrix Coin and its ticker MRX is not just another PoS cryptocurrency, but rather a blockchain technology that offers benefits to consumers and businesses, scalable to encompass growth and flexibility to implement in multiple use-cases. 

About PoS cryptocurrencies

A little background about PoS crypto algorithms first. In this kind of algorithm, anyone with a certain amount of coins participates in the transaction validation and block creation process that renders a stake reward (a process known as staking). It is simple, one must create a wallet, hold coins until maturity is reached, and have it connected online participating in the network to start receiving stake rewards. In order to prevent centralization and monopolization of the network by someone with the highest value of coins at stake, a number of techniques (i.e. randomization, age of holdings, staking limits, etc.) are used in the consensus algorithm to determine which user will create the next block.

About Metrix Coin

There is no dearth of PoS cryptocurrencies in the crypto economy. However, few of them have enough flexibility built into them that they can be used for a wide range of use-cases. Most of them are built for specific use cases only (i.e. gaming, e-commerce, P2P payments, etc.). But for mainstream adoption of PoS cryptocurrencies, it is necessary that PoS cryptocurrencies become multipurpose. Metrix Coin has fast transaction speeds of 10,000 transactions
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POP Network Joins TDeFi Accelerator for Decentralized Finance Startups – Yahoo Finance

POP Network Joins TDeFi Accelerator for Decentralized Finance Startups – Yahoo Finance

Bloomberg

Illinois Faces Risk of Junk After Voters Reject Tax on Rich

(Bloomberg) — Illinois voters defeated a measure that would have allowed the state to raise taxes on its wealthiest residents, striking down a pillar of Governor J.B. Pritzker’s plan for shoring up the state’s finances and preventing its debt from being cut to junk.The failure of the constitutional amendment that would have scrapped the flat income tax by a vote of 55% against sent the prices of Illinois’s bonds tumbling, with those due in 2034 down about 7%. The costly campaign ended in a win for Citadel founder Ken Griffin who spent nearly $54 million to fund the opposition, while Pritzker, the billionaire heir to the Hyatt hotel empire, gave $58 million in support.“The citizens of Illinois have delivered a clear message to our political leaders in Springfield,” Griffin, the billionaire head of the Chicago-based hedge fund, said in an emailed statement on Wednesday. “Now is the time to enact long overdue reforms to save our state from fiscal ruin.”The loss adds a new challenge to the Democratic governor’s effort to steady the finances of Illinois, whose rising pension-fund costs and chronic budget shortfalls left it with the lowest bond rating among U.S. states even before the pandemic struck. Failure of the measure won’t automatically trigger a downgrade to
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Decentralized finance blockchain startup Razor Network raises $3.7M in seed funding – SiliconANGLE News

Decentralized finance blockchain startup Razor Network raises $3.7M in seed funding – SiliconANGLE News

Decentralized finance blockchain platform Razor Network announced today that the company has raised $3.7 million in a seed funding round.

The financing came from NGC Ventures, Alameda Research, Spark Digital Capital and private investors, including Mariano Conti, a former executive at MakerDAO.

Traditionally, networks require access to external data to operate and decentralized ledger blockchain networks use smart contracts to execute real-world programmable financial agreements. This is ordinarily done using centralized servers called “oracles.” However, because they are centralized, they can be a single point of failure.

Razor Network wants to change that process with a decentralized oracle, thus providing decentralized data for smart contracts using a network. Razor says it’s not only fast but efficient, fault-tolerant and secure.

“Mariano really understands what we’re doing,” Razor Network founder and Chief Executive Hrishikesh Huilgolkar said about private investor Mariano Conti, former head of oracles for MakerDAO, in an interview with Coindesk. “He probably created the first oracle to ever go into production so he’s quite a good addition to our team.”

Oracles automate fetching external data, reducing the need to rely on centralized servers. That greatly increases network resilience against censorship and bottlenecks. It also means that the system can be deployed anytime and anywhere and it’s blockchain-agnostic.

Razor Network is secured using a Proof-of-Stake algorithm network with strict penalties for misbehavior to keep bad actors at a minimum. The network is also compatible with Ethereum, which is a cryptocurrency token commonly used in business applications.

“The oracle is arguably the most important piece of
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Everything you need to know about Blockchain – TechCabal

Everything you need to know about Blockchain – TechCabal

Source: Capgemini

Blockchain technology, in essence, took its first steps in 1991, when two research scientists: Stuart Haber and W. Scott Stornetta, introduced a computationally practical solution for time-stamped digital documents so that they could not be modified or tampered with.

Source: Ox3production (YouTube)

All this means that in its beginnings, the blockchain functioned more as a technology for temporarily blocking information than as a permanent and auditable decentralized option. That is, it was more or less similar to how smart contracts work today.

You want to know a little more about smart contracts, so be sure to read the following article on Smart Contracts: A Milestone Innovation from Ethereum.

The system used a cryptographically secure blockchain to store the time-stamped documents, and in 1992 the Merkle trees were incorporated into the design.

Merkle trees are data structures divided into several layers whose purpose is to relate each node with a single root associated with them. In this way, it is possible to synthesize all the network data in just seconds.

To achieve this, each node must be identified with a unique identifier (hash). These initial nodes, called child nodes (leaves), are then associated with a superior node called parent node (branch). The parent node will have a unique identifier resulting from the hash of its child nodes. This structure is repeated until reaching the root node or Merkle root, whose imprint is associated with all the tree nodes.

This whole process, called Merkle trees, made the network more
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Defi Index CVX Measures Crypto ‘Market Fear’ and Implied Volatility | Finance – Bitcoin News

Defi Index CVX Measures Crypto ‘Market Fear’ and Implied Volatility | Finance – Bitcoin News


The decentralized finance (defi) platform cvx.finance has launched the beta version of its “Crypto Volatility Index”, otherwise known as the “CVX.” The CVX is an index similar to the “Market Fear Index” (VIX) commonly used in traditional finance, but cvx.finance measures the suggestive volatility from bitcoin and ethereum options markets.

It’s still early but a new product has been launched that may be able to give cryptocurrency traders a rough idea of how the crypto market is feeling and if traders expect future price fluctuations.

The new service is a beta product produced by the cvx.finance platform and the creators claim the application is a decentralized version of VIX. The VIX is commonly used in traditional finance markets because it allows traders to hedge or to take profit from market volatility.

Basically, the CBOE Volatility Index (VIX) measures the market volatility of the S&P 500 Index options during the course of a 30-day timespan. Traders
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EMERGE 2020 | Central mandates are China’s edge for decentralized ledgers – TechNode

EMERGE 2020 | Central mandates are China’s edge for decentralized ledgers – TechNode

“China is in the driver’s seat” of blockchain development as blockchain adopters look for solutions to connect different chains, Fudan University professor Michael Sung said at the TechNode Emerge 2020 conference held on Thursday.

Cross-chain integration, called “interoperability” in the blockchain world, is a key challenge for the emerging technology. Blockchain promises a decentralized, largely tamper-proof way to store and share data. But as different users adopt different chains, there is a rising need for good ways to exchange data between them.

Interoperability is “going to be driven by China, because China can mandate that everyone do the same thing,” said Sung, the co-director of the Fudan Fanhai Fintech Research Center and chairman of Carbon Blue Innovations.

China’s blockchain developers are riding a wave of state support since the technology was “anointed” by top leaders, following the pattern of artificial intelligence and 5G, Matthew Graham, CEO of blockchain-focused investment fund Sino Global Capital, said during the panel discussion. This support means “huge investment, probably overinvestment,” he said. “But out of that, innovative things will emerge.”

Crypto investors are also misallocating funds in exchanges, Graham said. He cited the decentralized file storage token Filecoin as an example of frothy funding from retail investors. 

“The last time there was a digital technology that was this transformational,” said Graham, “it was probably the internet. With blockchain, we’re not even at AOL—it’s 1993.”

China’s blockchain ecosystem has weaknesses, the panelists said, naming public blockchain and token-based business models as examples. The country restricts much cryptocurrency activity, and
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Debunking the Myths Associated with Blockchain – Analytics Insight

Debunking the Myths Associated with Blockchain – Analytics Insight

 

Blockchain is the most talked about technology amongst the Fintech leaders. It is gaining traction amongst businesses and organizations. Considered as the digital ledger, it is the most transparent technology. It is decentralised, with data stored in each block and through a network of system or computers. Be it in conducting political elections or observing transparency in philanthropy, the scope of using Blockchain has expanded. But as the technology permeates, certain misconceptions might derail Blockchain into adoption. In this article, we will debunk five myths or misconceptions that have been flooding around the industry.

Blockchain is only used for Cryptocurrency

Cryptocurrency is observed as the hot cake in the business and finance world. Since the inception of Bitcoin, many financial institutes have tried their hands over cryptocurrency. A cryptocurrency is a form of digital or virtual currency with decentralised networks-based on blockchain technology, which acts as a digital ledger in an array of a distributed system. Undoubtedly cryptocurrencies are governed by Blockchain, but the misconception is that the use of blockchain is limited to cryptocurrency. Organizations like Fonterra and Lition are expanding the scope of blockchain technology in healthcare, music, philanthropy, elections and developing drugs, whereas cryptocurrencies are being used for digital transactions and payments amongst many organizations.

Blockchain and Bitcoin are the same things

The arrival of Bitcoin in the market definitely created a lot of havoc in the market. While countries were scrutinizing it under the lens of secure transactions, many organizations were figuring
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Decentralized Storage and Computing Network Aleph.im to Run Automated Price Reserve for its Token on Kyber Network – Crowdfund Insider

Decentralized Storage and Computing Network Aleph.im to Run Automated Price Reserve for its Token on Kyber Network – Crowdfund Insider

Aleph.im, a “decentralized” network that aims to offer secure storage and computing power to decentralized applications (dApps), will be running an Automated Price Reserve for the ALEPH token on Kyber Network, a protocol that facilitates automated, “decentralized,” instant, and low-cost exchanges of Ethereum-based digital assets.

As mentioned in the announcement, the ALEPH token will be available via KyberSwap and other dApps and platforms that run on Kyber’s on-chain liquidity protocol. There are reportedly more than 80 ERC-20 compliant tokens that are supported by the Kyber Network.

The ALEPH token was listed on Kyber Network on October 29, 2020 at 9 PM (GMT+8).

As explained by the Kyber team:

“Aleph.im Network [aims to serve as] a safe, decentralized network providing decentralized storage and computing for internet-scale applications and decentralized finance, on all blockchains. Current decentralized applications are generally unreliable and slow or tied to single blockchain architecture. Decentralized applications need to not only overcome these issues, but they also need to be able to communicate with other projects.” 

Kyber Network developers further note that most of the existing blockchain or distributed ledger tech (DLT)-based platforms are unable to effectively scale to meet the requirements of enterprise apps such as social networks, web-based software, Internet of Things (IoT) providers.

Aleph aims to offer a solution to these problems by providing “fast, single cross-technologies and cross-chain solutions on a decentralized and
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What industry leaders would wish for Bitcoin’s white paper 12th anniversary – Cointelegraph

What industry leaders would wish for Bitcoin’s white paper 12th anniversary – Cointelegraph

While the crypto community decides whether Bitcoin (BTC) was born — or merely conceived — 12 years ago, the fact is that Oct. 31, 2008, remains one of the most notable dates in humanity’s modern history. Exactly 12 years ago, Satoshi Nakamoto published what some have described as “a new bible”Bitcoin’s white paper. Designed as a brand new “purely peer-to-peer version of electronic cash,” many see the creation of Bitcoin as a response to a global financial crisis.

Related: Happy birthday dear Bitcoin: Crypto’s first white paper turns 12

Cointelegraph’s video team talked to Adam Back, co-founder and CEO of Blockstream, about the birth of Bitcoin. Check out the video here:

Although Bitcoin has recently become more appealing than both Jesus and sex, at least among Reddit users, let’s not forget that it’s only Bitcoin’s 12th anniversary and that many great achievements and challenges still lie ahead, though for this real-world saga, we can only hope to know how this story will end and who will emerge as the victor.

Cointelegraph has reached out to Bitcoin’s friends and supporters, asking them to send their birthday wishes to the Big BTC.

Alex Wilson, co-founder of The Giving Block:

“For Bitcoin’s birthday, I hope it brings financial freedom to billions of people around the world.”

Muneeb Ali, CEO and co-founder at Blockstack PBC:

“My
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