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New Platform Provides Insurance for Blockchain Companies

iXledger, a company founded in early 2017 in London, U.K., has launched Blockchain Insurance, a platform that enables blockchain companies to obtain business insurance quotes based on a risk assessment. The platform presents exposures in metrics relevant to the underwriters, insurers and reinsurers.

The company says that the team has launched the platform in partnership with experts in London’s insurance markets. It is specifically tailored to protect blockchain businesses from risks associated with legal threats, financial exposure, cyber risk and crime.

The iXledger platform provides a number of features that support brokers and underwriters through the insurance process. The risk assessment assists underwriters in their risk evaluation with a detailed model, which gives a score across seven key factors — including a company overview, finance, technology, security, people and management.

The system then presents the applications to the marketplace and, once the insurance is in place by using the platform, it publishes the record of the policy on the Ethereum blockchain. “This record can be used to show potential investors and other interested third parties that the insurance is in place, increasing the legitimacy of the business and mitigating risk,” the platform’s website states.

According to the company, the project is using blockchain technology to offer data transparency and data normalization to service the market, which is estimated to raise $7 billion in 2018. International Data Corp. suggests that the amount of funds that will be spent on blockchain adoption worldwide is around $2.1 billion in 2018, up from $945 million in 2017. The blockchain technology market is predicted to grow to $2.3 billion by 2021.

The platform’s IXT utility token gives users access to iXledger services. The company intends to make it available for use in other insurance ecosystems, including SelfInsuranceMarket, the InsChain insurance project and the fidentiaX marketplace, as well as to continue evolving their collaboration with other service providers within the insurance industry.

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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EOS Record ICO Launches on Its Blockchain: Goes Live

One massive eye opener for what can be achieved through the crypto-verse, was the team behind EOS as they raised over $4 billion in almost-a-year-ago coin offering. Now the network has finally gone live after days of struggle many confusions.

EOS Blockchain

Over 150 mil votes have been gather to conclude who will keep look-out the 5th largest blockchain platform by market capitalization. This marks the end of a very long week, perhaps most complicated that the crypto-verse has seen.

The startup Block.one is strongly pushing forward the development of EOS’s software and infrastructure. Its CTO, Dan Larimer, previously created the blockchain-based financial services platform BitShares as well as Steemit, a cryptocurrency-powered publishing platform. Both supported on the delegated proof of stake which even the network uses.

Block.one is the initiator of the token offering raising over $4 bln and now ensuring that the software is accessible. Everything commenced smoothly at around 17:46 UTC.

This happened after a roughly a week of deliberation and testing by block producer candidates – those groups vying for one of 21 validator node spots in which they will receive rewards for verifying transactions – from all around the world.

Blockchain Goes Live EOS

EOS Comparison

EOS mainnet plans on being the most powerful platform for dapps with superior smart contract capability to that of Ethereum.

Very similar to IOTA, EOS is looking to solve existing issues that cryptos are facing right now. The developers behind the 5th leading coin believe that their tech is the solution to the famous scaling problem.

The team targets to create a much faster and more efficient alternative to Ethereum. Ethereum is designed not to be only a cryptocurrency but also a platform for running blockchain-based computer programs called smart contracts. However, it is slow at processing transactions therefore EOS might have an advantage.

EOS dispenses with mining in favor of allowing token holders to elect block producers. In this case, voting power corresponding to the number of tokens an individual or organization holds. That is equal to no miners. On the other hand, Vitalik Buterin noted that the network could be vulnerable to vote-buying.

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Oldest Bitcoin Exchange BTCC Launching New Platform in June

One of the longest running crypto exchanges, BTCC, has announced plans to launch a new version of the platform in June. The exchange formerly known as BTC China aims to open an exchange to enable international crypto trading. Naturally the company is no longer based in restrictive China but Hong Kong where crypto businesses are welcomed and encouraged.

In the official announcement it was stated that the company has leveraged more than seven years of continuous operation to bring the most reliable, convenient, and secure digital asset services to millions of users worldwide.

At launch the new platform will offer trading pairs such as BTC, ETH, BCH, and LTC, and will regularly launch new trading pairs to meet the needs of its users the announcement said. In a further incentive to draw in new customers from the ever crowded crypto exchange scene BTCC has offered zero-fee trading for the first three months;

The company is touting a technologically advanced, ‘cutting edge’ trading platform;

“In terms of technical developments, our exchange will utilize a multi-tier, multi-clustered system with an optimized, high-speed memory trading engine. So, you can make the trades you want on a cutting-edge system.”

BTCC are also taking security very seriously and are proud of the fact they have never been compromised. Offline cold storage and SSL encrypted traffic will be part of the revamped exchange protect digital assets and client information.

A number of additional bonuses are on the table including a points and referrals system;

“Points are also up for grabs for all customers! Referring users, verifying, depositing, and many other activities will all provide opportunities to earn you points. Our new reward point system will give you tangible benefits that you can use across the whole BTCC ecosystem including both BTCC Pool and Mobi wallet!”

It is possible that BTCC will mimic the offerings of other major exchanges such as Binance and develop its own in house token for reduced fee trading once the initial offer expires.

BTCC was founded in China in 2011, and was the world’s oldest Bitcoin exchange until it closed in September 2017 under pressure from the Chinese regulators following a major clampdown in the country. It was considered one of China’s top three exchanges, the other two being Huobi and OKCoin (OKEx), both of which have also moved to friendlier climes namely Hong Kong and Singapore respectively.