Posted on

EOS Announces Solution to Counter-Reply any RAM-Steal Attacker: EOS/USD Breaks $5.00

The fifth largest coin by market capitalization is welcoming much gain after the roller-coaster pathway that the cryptocurrencies experienced the last days. Only behind MIOTA’s strong 15.00% increase in the last 24-hours, EOS has jumped upwards for 4.71% reaching above the major $5.00.

EOS Trading

Source: coinmarketcap

On the upside, a close above the $5.25 level and the 61.8% Fib retracement level of the last decline from the $5.65 high to $4.53 low is likely to push the price further higher. The next major resistance is near the $5.50 level, above which, the price may well test the last swing high at $5.65.

EOS Update

Experiencing various cases and knowing that the network is open for RAM exploit issue attacks, the team behind EOS commenced a solution to prevent it. By implementing lines of code, users that are targeting to reach this were able to steal RAM by installing worth noting amount of garbage into rows that are inserted in the name of the second account which is sending to the original account tokens.

It has been announced by the team that the solution to deviate the exploit works by sending the coins to a proxy which starting-off has no RAM available. This includes the first word of a memo which is the account that you want to complete the transfer.

EOS has retained its top spot in the latest ranking of public blockchain projects released by the Chinese government. This latest ranking is the fourth since the index debuted at the end of May 2018.

For the third month in a row, EOS has maintained its number one spot atop the ranking. The delegated proof-of-stake (DPoS) blockchain project edged out Ethereum after the first rankings were released to gain the top spot since June 2018. Apart from topping the charts, EOS also occupied the top place in Technology index.

EOS Future

Girl in a jacket

loading…

Get real time updates directly on you device, subscribe now.

Posted on

Ripple Chief Technology Officer: Getting Volume On RippleNet is Top Priority

David Schwartz – the current Chief Technology Officer CTO [former Chief Cryptographer] for the startup that provides better solutions for cross-border payments Ripple did an interview with Asheesh Birla – Ripple Senior Vice President of Product. The questions were made by the Ripple [its XRP Token] community and enthusiasts over Twitter.

Ripple – David Schwartz

Keeping in mind that news which are related to the crypto-firm Ripple fly in daily, it is obvious that investors, traders, followers want to know what are the priorities and most important tasks that the team has set in front of them. According to Mr. Schwartz the most important matter to take care of is getting more volume in RippleNet. Accordingly, getting more payment corridors by which the transaction flow will increase and its tech implementation will take place.

“I think having that transaction flow as candidates to be bridged with XRP is tremendously important to the company. Also, xRapid, actually doing the bridging of payments with XRP”

Even that Ripple is known for signing many partnerships during the last years counting hundreds according to its CEO Brad Garlinghouse, David Schwartz thinks there is still need for more which of course will turn out positive.

The next major factor to work on is decentralization as Mr. Schwartz highlighted out, and explained why it does matter when asked.

 I’ve had people tell me “Well, banks don’t care if something is decentralized; they trust each other, don’t they?”. Well, not only they do not trust each other, but imagine if you are trying to build on that ecosystem… if you are trying to compete with a company that’s spent billions of dollars on its liquidity solution, are you going to want to spend billions of dollars? And the other problem is that things that are based on trust don’t really scale… However, if you have a system that doesn’t require trust, you can interoperate with everybody by just firing up your own instance.

He continued adding that with a decentralized system there is no need for anybody to manage it on daily, or a governance body which would intermediate the engine. Which is why a decentralized platform that can govern and run by itself is needed.

The following questions were directed to Senior Vice President of Product, especially about Ripple’s product xRapid. As we all just want to know the best part, a twitterati asket when it is going to be in production. Birla noted:

“Right now, we are really working hard on getting the experience right for xRapid… We’ve seen really positive results with the pilot so far. There’s no set time for production just yet… We hope to have it by this year. I would say that the pilots were really good learning both for us and our customers”

As many do know, the partnership with Western Union had its ups and downs. Birla explained that for WU to see the full potential of xRapid and take advantage of the financial transaction solution, they have to set all their volume under xRapid. That is because they already set costs and optimized liquidity flows. However, according to the senior vice president of product, the team has set under radar startups and firms that are competing with Western Union and hoist them with their tech.

loading…

Posted on

Ripple [XRP] to Transform the Economy How We know It

With the bears having their saying for first half of the year, crypto-investors are hoping the most out of the second part of 2018 and hopefully gain will be witnessed.

Ripple For the Change

Being part of the cryptocurrency community for a longer time, make you forget for the near term changes in prices while tending towards the longer-term ideas. That is why much curiosity is around the startup Ripple, its token XRP and the blockchain based financial solutions the team is offering that aim to shake the global-cross border transactions how we know them.

The crystal clear goal of the team behind Ripple is to change one industry for the better. Much like Amazon, in its time when it wanted to change trading much faster and user friendly with delivery option, that is what Ripple is attempting to do for the cross-border transactions.

Furthermore, Ripple is aiming to solve real-life problems, and they are inventive by offering a solution to real-life problems through its xRapid. Ripple’s xRapid will use its token, XRP, to achieve this feat.

Ripple – Founder

Brad Garlinghouse was recently interviewed by CNBC at the recent Money 20/20 event in Amsterdam. Ethereum World News had earlier mentioned the manner in which Ripple (XRP) would more or less defeat Bitcoin (BTC) in the future, as an offshoot opinion piece of Mr. Garlinghouse’s comments during the same interview.

Brad Garlinghouse was noted as saying that there is a list of major banks in line to use the xRapid platform by the end of this year; with dozens expected to be doing so by next year. He had this to say about xRapid:

By the end of this year, major banks will use xRapid as a liquidity tool. By the end of next year, I would certainly hope that we will see…in the order of magnitude…of dozens. But we also need to continue to grow that ecosystem…grow the liquidity.

Ripple – Swift

The Society for Wordwide Interbank Financial Telecommunication or SWIFT is around and close the same for over 40 years. Created in Brussels, Belgium 1973. It has done its part of allowing cross-border transactions to happen, but with no change of development. That is why a new, best be, blockchain solution is needed to be implemented.

With Ripple introducing the xRapid solution to transfer the XRP token to source liquidity, various existing issues would be solved. The whole process could take only 3 sec per transaction.

In the long term objective, with the prices hitting rock-bottom right around now it could be best to step in. However, as usual trade safely and do not overtrade.

loading…

Posted on

The End of Banks With Blockchain Supported Wallet: Ethereum co-creator

Following the creation of the blockchain hub for decentralized projects – Decentral, Anthony Di Iorio – co-founder of Ethereum, discussed how digital wallets that are blockchain supported could be the end for banks as you can be your own bank.

The CEO of Decentral continued – for MarketWatch

“In the digital-currency space a wallet is used to manage and move value, so the wallet is needed to send or receive from one person to another – let that be globally instantly but without the need of third parties.”

The third parties like intermediaries or banks in this case, according to Di Iorio, are not going to have the power to control the value exchange. He strongly believes that the blockchain technology will have a yet-to-be-seen impact but a very strong one in different sectors. For example, cash to be used in the internet what Bitcoin and many others represent.

“It is going to have a greater impact than what the internet could do.”

He compared the wallet platform he created with the internet. As we – the user – use the browser to move, control and transfer data through the internet, that what the wallet represents for us when it comes to assets.

What makes it the best is that when it comes to networks and data, centralized saved information is being attacked very often lately and there is not much to do about it.

However, as the digital wallet is backed by blockchain decentralized technology, the data is spread out very much and it would be more less likely to be a victim of the same scale attack.

“It gives you the ability to be your own bank.”

On the same thought-path is Jeffrey Wernick who strongly believes in Bitcoin and cryptocurrencies as it comes with the ability to solve the biggest problems that fiat money deal with.

Jaxx

Ethereum (ETH) co-founder Anthony Di Lorio – launched Jaxx Liberty digital wallet app. It is developed for the sole reason to make digital currencies easier to be accessed by the masses. Decentral – Toronto based multi-coin platform announced the launch of the wallet.

loading…

Posted on

Ripple Clear The Superior for Financial Solutions against SWIFT

With all the blockchains and infrastructures debuting in the market, it could mean only a matter of time before archaic existing platforms will be replaced. One of the latter ones to find its end could be SWIFT.

The Society for Wordwide Interbank Financial Telecommunication or SWIFT is around and close the same for over 40 years. Created in Brussels, Belgium 1973. It has done its part of allowing cross-border transactions to happen, but with no change of development. That is why a new, best be, blockchain solution is needed to be implemented.

One of the crypto-startups that aims the above-purpose is the firm Ripple with its blockchain tech advancements.

Ripple – SWIFT

To explain why SWIFT is best to be replaced and what issues it is presenting to get the job done swiftly, we will use a company owner as an example. The owner has a company that imports items from countries like China or Australia, which then sells them around the world. This is his business for 25 years and has dealt with transactions in foreign currencies. Among many of his recent frustrations with the cross-border transaction are the following cases:

One USD transfer from his HSBC account based in USA to HSBC in China took 4 business days. Keep in mind the process was run through the same bank with the same currency.

The individual initiated an AUD from AUS to Swiss and it took four days. That is not all as the commission fee of 5% was written down for the owner. This happened as the bank traded AUD to CHF and then them back to AUD when reaching the account in Switzerland.

With Ripple introducing the xRapid solution to transfer the XRP token to source liquidity and solve all the above. The process only takes to 3 seconds independent from the location or the difference in currency. On top of the cake, it takes almost no fees.

The Bill Gates Foundation is a project for the sole reason of making living standards for people in various countries better. In this road for the better, the Foundation teamed up with Ripple to use their tech and release a software named Mojaloop.

Based on information released by the world bank, there are over 2 billion people who are trapped in poverty, many of whom solely because they do not have access to a bank account or other basic financial services.

Mojaloop – is an open-source software which banks can adapt and find their own use of it very easily with low cost and effort. During its development, the project was funded by the Gates Foundation and created by fintech companies while including Ripple.

“Enabling the poor to make payments to anyone, anywhere, using a mobile wallet has implications beyond increased access to their domestic economies. It has the potential to bring millions into the fold of the global digital economy. We are honored to have been a part of this project.” – Stefan Thomas – Ripple’s Chief Technology Officer

loading…

Posted on

Microsoft Announces Blockchain Based Payment Management for XBOX

Lowering operational costs with the help of the newest and very hyped Blockchain Tech – Microsoft on royalty management payments for billion-dollar game developers.

Blockchain Solution

The infrastructure that is made real using Microsoft’s Azure Cloud while being built on the Quorum blockchain, will be tested first on the very popular Xbox gaming console. The platform will be managing payments for video game publishers the likes of Ubisoft which is known in a global-range for its record breaking hits like: Assassin’s Creed franchise, Far Cry, Rayman and so on.

Accordingly, the technology could manage various mediums of Microsoft’s network like movie royalties or other sides of the giant that need intellectual property licensing. It is expected that the platform [while being one of the best solutions] will cloud-over thousands and thousands of royalty partners making it one of the world leading blockchain ecosystems. That could become true very easily as with the tech millions of transactions could be processed and cleared in a day.

Current Way

It is reported that the current software that Microsoft is using for royalty management is very complex, even that at the end user side it looks smooth when purchasing. The legacy system juggles thousands of titles, vendors and publishing houses across the globe, reconciling transactions that have to adhere to various jurisdictions and tax codes.

Hoping that operational costs will be cut by half with the implementation of blockchain tech and smart contract technology, Microsoft and its accounting partner Ernts & Young are going for it.

“Smart contract technology is far more flexible and scalable than any prior solution for managing business agreements,” says Grace Lao, General Manager of Finance Operations at Microsoft.

loading…

Get real time updates directly on you device, subscribe now.

Posted on

Ethereum (ETH) Blockchain Network Being Everyone’s Favorite: CyClean

Despite that there are tons of other platforms in the market, like: NEO, LISK, QTUM or EOS, CyClean chose Ethereum as its ground floor for further development. With that move done, the two are working very well together.

Ethereum Top Notch

With Ethereum (ETH) being in the show for a longer time and a direct competitor for the first place by market capitalization, it is more than enough evidence to go against the other platforms. Keeping in mind that these infrastructures are relatively new compared to the second in lead, there is still doubt in the air as to how safe they are.

Simultaneously hoisting the confidence as the above, is the team behind the network. With Vitalik Buterin – a very respected figure and considered as one of the best to lead the crypto-era, the group of developers looks better than imagined.

Accordingly to their work, is the environment that has been created by the platform to implement dapps on it. And last but not least, with its smart contracts option users are able to create contracts without the 3rd party getting involved.

Work to Do

The present project is not finished. The team is still working daily to keep with the promises of tech-delivery and roadmap goals that have been set.

One of the is Plasma, which targets to increase Ethereum block’s scalability showcasing a solution for the scaling problem. This is done via smaller-child chains supporting the main one.

Plasma together with Sharding, which is lets say Ethereum’s Lightning Network, will increase its transaction completion time. With that, it could transact more than Visa /per sec.

Casper is another one. Through Casper, Ethereum’s system is going to change from POW (proof-of-work) to POS (proof-of-stake).

loading…

Posted on

Ripple (XRP) Brad Garlinghouse on Bitcoin: China Controls Over 50% of Bitcoin

Brad Garlinghouse – the CEO of the speedy packed crypto known as Ripple was interviewed by Lee Simpson – Stifel Tech Analyst, during the 2018 Stifel Cross Sector Insight Conference.

“There’s a lot of blockchain craziness, but there are three indicators of market winners.” He added:

  1. Product Market Fit
  2. Customer Traction
  3. Regulatory Engagement”

“Blockchain will not disrupt banks…” He continued “it will play an important role in the way our system works. It’s a short-sighted view…”

Ripple Comparison

As explained by the CEO, even that Bitcoin is supported and backed up by blockchain tech, it does not deliver the solutions [fit to be the panacea] everybody anticipated it to do. Which implies that despite that Bitcoin initiated a new and very potential era in technology, there are other cryptos that will be doing the real work.

This is where Ripple’s XRP finds its role.

“This is how liquidity will be managed in the future.” He focused on emerging markets. XRP was described as “the best digital asset for settlement.”  He said, “Bitcoin today takes 45 minutes to settle a transaction, while XRP clears it in only 4 sec.” He continued: “Banks will use what is efficient and cheaper.  And if you deliver a better product at a better price… they will use it.”

One interesting story that Mr. Garlinghouse mentioned during the event was the there is not Bit or Coin in Ripple’s name:

“About two and a half years ago, one of the biggest banks in Australia was in the office. The CEO of that bank said to Garlinghouse, “The smartest thing you’ve done is not have ‘bit’ or ‘coin’ in your name. I’ll take it!”

Ripple’s CEO on Bitcoin

Brad Garlinghouse continued with his opinion that he finds it absurd that many respected and prominent individuals in the tech-verse see Bitcoin being the leading currency in the world:

“A number of prominent people, even Steve Wozniak, has said that he sees a world where Bitcoin is the primary currency. I think that’s absurd. I don’t think that any major economy will allow that to happen. By the way, it doesn’t make sense.”

But, what stood out of all what the Ripple’s CEO told the crowd was an underreported story but very important to know on Bitcoin [BTC] and who controls it:

“I’ll tell you another story that is underreported, but worth paying attention to.  Bitcoin is really controlled by China. There are four miners in China that control over 50% of Bitcoin”

“How do we know that China won’t intervene?  How many countries want to use a Chinese-controlled currency? It’s just not going to happen.”

Posted on

Ripple (XRP) and Mitsubishi: Ripple’s Solutions Tested and Loved by Many

The intention to find use of Ripple’s distributed ledger technology for showcasing international money transfer has been declared by Mitsubishi Corporation and Mitsubishi UFJ Financial Group. Utilizing the solutions that the blockchain based tech firm is offering has come as an idea keeping in mind that it will lower time and costs of transaction settlement – according to Mitsubishi Corporation. Also as an addition, for the remittance test – Standard Chartered UK will be present.

“We aim for practical use within a few years,” the statement highlights.

Accordingly, Singaporean dollars will be sent to Singapore from Thailand as a subsidiary of Mitsubishi Corporation will issue the transaction from Ayutaya Bank to a Singapore base of Mitsubishi Corporation Affiliate in Standard Chartered.

“In the current international remittance, we use a network of International Banking Communication Association (SWIFT) where financial institutions of each country participate. In many cases, it often goes through multiple banks, it takes a lot of fee and generally takes several days to remit.”

Previously, Axis Bank and Standard Chartered – financial institutions, have announced that they are planning to use Ripple Tech a new cross-border payment platform to be built.

The platform – which will connect corporates between Singapore and India – will be accessible through Standard Chartered’s Straight2Bank system. According to SC’s release, the platform will allow users to see all fees up front, pre-validate transactions and thereby more quickly settle them.

The managing director and global head of client access for Standard Chartered – Gautam Jain, stated:

“The successful launch of our commercial cross-border payment service marks a significant milestone in the financial industry’s progress in applying distributed ledger technology for corporates.”

Posted on

NEO Cryptocurrency: Omicrex Includes NEO Pairs, Kucoin Prefers it For Withdrawals

The 8th largest cryptocurrency by market capitalization has been added [its token] on the Omicrex trading platform as a choice to pair NEO/BTC since January 15. Along with NEO, pairs like XMR/BTC, IOTA/BTC and XRP/BTC have been included. The event has been announced in a writing by Omicron Crypto Market.

The company offers different trading pairs and accepts cryptocurrencies and fiat currencies. Besides that, it is going to add several new pairs in the coming weeks. It is important to remark that it is not possible to trade directly via fiat currency in several countries, including the United States.

As revealed in the past, market exposure by being added on various trading platform is a positive signal towards its price as liquidity increases and more individuals have the opportunity to step in, especially for a crypto-choice like NEO which has cemented its place among the leaders since it made it to the top ten.

Another exchange has spoken out when it comes to the Ethereum Network congestion taking place by recommending to choose NEO when it comes to transferring or moving your part of tokens or values across various platforms.

With the huge wave of new traders and investors stepping in to be part of network, most leading cryptocurrencies are obviously taxed beyond their capabilities. The issues of transaction-congestion is hitting Bitcoin and Ethereum too. This mostly impacts individuals that are attempting to transfer money through platform by using BTC or ETH.

KuCoin – an exchange that is catching the radar of many traders as an option to go, is recommending that users step to a different coin altogether as a solution to complete the transfers. The choice would be NEO.

It is the first time we’ve seen a popular cryptocurrency exchange advise users against relying on Ethereum for withdrawals and deposits. This sets a very interesting precedent, although it is expected that this is a one-time event. The Ethereum developers have been working on major network improvements for some time now

When it comes to the team backing up NEO, Da Hongfei – the founder will be talking in Melbourne Australia on March 13 – 15 during the APAC Blockchain conference. The event is in a partnership with the Australian Digital Commerce Association (ASCA), the industry network for Australian businesses using blockchain solutions. The intention is to work together in order to spread the understanding of blockchain technology.