Podcast Platform Castbox Launches Blockchain Project to Reward Creators

Podcast Platform Castbox Launches Blockchain Project to Reward Creators
Source: Bitocoinmagazine.com

Award-winning global podcast platform Castbox has announced the release of ContentBox, a blockchain-based infrastructure for decentralized digital content. The project is backed by Bo Shen — the founder of Fenbushi Capital and an early adopter of Ethereum — who will serve as both a cornerstone investor and strategic advisor to the team. Shen said, “The nature of blockchain technology is to take a slice of the pie from vested interest groups, where you are bound to encounter resistance. To get your project off the ground, you must have vast industry and product resources. I invested in ContentBox because it has a strong technical team and a wealth of industry experience, and I believe it will become the first killer app for the digital content industry.” Founded two years ago by former Google manager Renee Wang, Castbox allows listeners to find,…

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No Free Lunch: IBM Promises to Employ 1,800 French Blockchain Technology Experts

Source: Btcmanager.com

IBM CEO Virginia Rometty was one of the dignitaries present at the “Tech for Good” conference organized by French President Emmanuel Macron on May 23, 2018. And she has pledged to hire 1,800 French nationals as part of the tech giant’s contribution to Macron’s project which seeks to make France a hotbed for artificial intelligence and blockchain technology. IBM-Macron Alliance According to reports, Big Blue is looking to create a research team that would focus primarily on blockchain projects, artificial intelligence and the internet of things (IoT). According to France 24, the French President “paints himself as a champion of France’s plugged-in youth” and is poised to transform the European nation into a “startup nation” that would be a hotbed for tech and AI firms. “I believe in innovation and at the same time in regulation and working for the…

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South African Kidnappers Demand a 15 Bitcoin Ransom

South African Kidnappers Demand a 15 Bitcoin Ransom
Source: Themerkle.com

Bitcoin and other cryptocurrencies have always been appealing to criminals. Whereas most of the illegal activity takes place online, that is not always the case. In South Africa, a kidnapping of a 12-year-old child is making headlines. This is mainly because the kidnappers have demanded a 15 Bitcoin ransom prior to releasing the child. Another Bitcoin-related Kidnapping In the world of criminal activity, covering one’s tracks is not all that easy. This is especially true when dealing with payment methods which are far too easy to trace these days. For criminals, this means that using traditional payment methods is pretty much out of the question. That is why Bitcoin and other cryptocurrencies are so appealing these days, as they seemingly provide a more anonymous option. In South Africa, a very worrisome trend has begun to emerge over the past few years….

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SegWit Now Comprises Almost Half of All Bitcoin Transactions

SegWit Now Comprises Almost Half of All Bitcoin Transactions
Source: Bitcoinist.com

The overall percentage of Bitcoin transactions using Segregated Witness (SegWit) technology has climbed to all-time highs this week, approaching 40%. May Sees SegWit Spike Data from monitoring resource transactionfee.info reproduced on Twitter by investor and entrepreneur Alistair Milne shows steep growth in SegWit’s share beginning earlier in May. The rise was likely fuelled by wallet and cold storage provider Xapo implementing the technology, Milne commented. The company’s president Ted Roger confirmed the implementation separately May 24. Thanks to @xapo recently implementing SegWit, we will likely see >40% of all transactions taking advantage of Bitcoin’s extra capacity (and lower fees) very soon! pic.twitter.com/TRmx0Ot6K8 — Alistair Milne (@alistairmilne) May 25, 2018 SegWit has seen an increasingly broad rollout across the Bitcoin industry in 2018. Allowing for lower fees and faster transactions, its appearance in August last year initially saw slow uptake, with…

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A 17th Century Mansion Is Being Auctioned Off on a Blockchain

A 17th Century Mansion Is Being Auctioned Off on a Blockchain
Source: Coindesk.com

A 17th century Italian mansion is being auctioned on a blockchain, in what could be a major real-world application of the nascent technology. Beverly Hills real estate brokerage Hilton & Hyland is partnering with blockchain startup Propy to auction the Palazzetto inside of the Palazzo Albertoni Spinola, a mansion built between 1580 and 1616. The Unesco heritage site was designed by architect Giacomo Della Porta prior to his death in the early 1600s, and is currently valued at $42 million, and interested parties can bid on it in either fiat or cryptocurrencies until June 28, said Propy CEO Natalia Karayaneva. Karayaneva told CoinDesk that the auction was a unique opportunity to record the sale of a historic building on a blockchain, given that most blockchain projects are still in the test phase, including real estate ventures. She added: “It’s a…

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Chinese Exchange Launching Southeast Asian Crypto Trading Hub

Chinese Exchange Launching Southeast Asian Crypto Trading Hub
Source: Bitcoin.com

Chinese exchange Zb.com has set up a branch in Thailand with a plan to turn it into the regional crypto trading hub in Southeast Asia. The move came as the Thai government finalizes the country’s regulatory framework for cryptocurrencies and initial coin offerings. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Creating Regional Hub Dawei Li. (Photo credit/Matichon)Chinese cryptocurrency exchange and wallet provider Zb.com recently announced that it has set up a full-fledged branch in Thailand, called Zbthailand (Zbth), with the aim for it to become the regional crypto trading hub in Southeast Asia, according to local media. Zb.com already has a presence in China, the US, Canada, Switzerland, Australia, and South Korea, Matichon publication detailed, adding that Zb.com currently has over 3 million customers. According to Coinmarketcap, Zb.com lists 59 coins with a 24-hour trading volume of $160 million….

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First Bitcoin Mining Conference Hashes Over the High Cost of Energy

First Bitcoin Mining Conference Hashes Over the High Cost of Energy
Source: Bitocoinmagazine.com

Bitcoin mining uses as much electricity as Ireland, and by the end of 2018, the Bitcoin network will be using as much energy as Austria, according to a new report by Alex de Vries of the Experience Center of PwC in the Netherlands.Billed as the first serious, peer-reviewed study of energy use in crypto mining, the report has set off alarm bells, adding to current concerns about the impact of future mining energy consumption on environmental issues like climate change.At the first-ever conference for crypto mining, held on May 17, 2018, in New York City, an expert panel hashed out the implications of rapidly growing energy consumption among miners worldwide.Amber D. Scott, CEO of Outlier Solutions, moderated a panel of experts that spoke about the energy issue as part of a discussion on the topic of proof of work (PoW)…

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Malta Blockchain Summit Bringing ‘Founding Father’ of Blockchain to Blockchain Island

Source: Btcmanager.com

Malta has recently gained a reputation as the ‘Blockchain Island,’ as the major cryptocurrency exchanges are inbound for relocation. The Malta Blockchain Summit has now raised the bar by inviting one of the ‘Founding Fathers’ of blockchain, W. Scott Stornetta Ph.D., to the November show, expected to become one of the largest blockchain and DLT events in Europe in 2018. It is common knowledge that Bitcoin was invented by an as yet anonymous person or group of people called Satoshi Nakomoto. However, experts in the field are aware that Dr. Scott Stornetta and Dr. Stuart Haber first conceptualized blockchain in 1991, publishing a series of peer-reviewed journal articles and filing a number of patents through the 1990s. Bitcoin was eventually built upon these foundations with Dr. Stornetta and Haber referenced three times in Satoshi’s original Bitcoin whitepaper. Dr. Stornetta has…

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NEO’s NEP-5 Storage Injection Vulnerability Is Less Severe Than Assumed

NEO’s NEP-5 Storage Injection Vulnerability Is Less Severe Than Assumed
Source: Themerkle.com

The cryptocurrency world is subject to interesting developments at all times. In some cases, major vulnerabilities are discovered which need to be addressed. The NEP-5 smart contract storage injection vulnerability is of great concern in this regard. Some of NEO’s DApps are susceptible to this exploit, although the underlying blockchain remains unaffected. The NEP-5 Storage Injection Issue This particular smart contract and DApp vulnerability was originally disclosed several days ago. Red4Sec, a security auditor, came across this issue while doing some routine research. NEO Global Development has confirmed this problem exists and issued an official explanation as to what is going on exactly. It is important to keep in mind that this storage injection vulnerability does not affect the NEO blockchain itself, but rather some of the DApps making use of this technology. It seems various NEP-5 tokens are affected by this problem. If…

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Why the Travel Industry Needs Crypto-Driven Solutions

Why the Travel Industry Needs Crypto-Driven Solutions
Source: Bitcoinist.com

The travel industry is one that could highly benefit from transitioning to blockchain technology – and it needs to do so immediately. Despite substantial and continuous developments in engineering new machines for transportation, the supporting services attached to them have not progressed at the same pace. As international travel has become more and more common, the lapses and deficiencies of the stunted travel industry are painfully evident. To start with, the current system forces travelers to queue up way too many times before they can even get to their hotel – from airport check-ins to the baggage carousel to getting a cab to their hotel. Today, ride-hailing services eliminate the need to queue up for rides physically, so that’s an improvement. The tedious series of queues doesn’t end there: guests still have to fall in line again to check in at…

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Huobi Strategizes Market Penetration into Vietnam Rapidly Growing Blockchain Market

Source: Btcmanager.com

Ho Chi Minh, Vietnam (May 25, 2018) – Huobi.Pro, the leading global digital asset exchange, which saw a cumulative annual turnover of $850 billion last year in 2017, announced its grand strategy to tackle the Vietnamese market during their keynote speech at Blockchain Festival Vietnam.   Frank Fan, strategic investment director of Huobi said, “Huobi.Pro intends to make Vietnam one of its ‘Strategic Fortress’, a location that has an unassailable lead in terms of market penetration. Huobi.Pro indicated its preference to collaborate with Vietnamese strategic partners with capabilities in regulation, banking and marketing.”   During the keynote speech, Huobi.Pro also identified the landscape of Vietnamese fiat-digital assets service is nascent in Vietnam. The digital assets regulation in Vietnam remains stern and cautious. However, the local government has indicated that clearer regulations will be on the way, which makes doing business…

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Op Ed: The Benefits of Incentivizing Node Operators in Public Blockchains

Op Ed: The Benefits of Incentivizing Node Operators in Public Blockchains
Source: Bitocoinmagazine.com

The cryptocurrency industry has seen tremendous growth this year, with a 3,363 percent increase in market capitalization and a 216 percent increase in cryptocurrency and asset exchanges. While this is certainly promising, it foreshadows a unique scalability problem. At present, most crypto companies are almost entirely dependent on the charity of “nodes” to establish and enforce the rules of their platform — all with little or no incentive to do so.For years, this has been the industry standard, and, so long as the system isn’t overwhelmed, it holds up. However, with the recent surge of activity surrounding cryptocurrency, the time and energy required to validate each transaction is becoming more and more time-consuming. With expanding size and scale, the question becomes, is it worthwhile to operate a node in today’s digital climate? Traditional node operators harness the power of everyday…

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MIT Researchers Demo a Smart Contract-powered Lightning Network for Bitcoin

Source: Btcmanager.com

The Digital Currency Initiative (DCI), a cryptocurrency and blockchain-focused research community at MIT, are demonstrating an experimental use case in the backdrop of Bitcoin’s Lightning Network that would amalgamate smart contracts with the Bitcoin network to scale further. The Lightning Network is an open protocol layer that is built on the bitcoin blockchain network, enabling faster and cheaper transactions. The new MIT pilot is not just limited to manage millions of transactions but to make it possible with added complexity. Scaling the Bitcoin Network The MIT test envisages a mechanism wherein transactions would occur automatically when certain defined conditions are met such as when the U.S dollar value meets a predefined price. To make it possible, DCI’s Research Scientist Tadge Dryja and Head of Strategic Partnerships Alin S. Dragos developed “oracles” that would relay data to smart contracts. The demo…

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A Hitchhiker’s Guide to Hard Forks

Source: Coinspeaker.com

Similarly, a blockchain fork happens as a result of changes made to its original code or protocol by developers. This can be due to a number of reasons: Developers want to add new features and functionalities to the blockchain They want to alter the existing rules of the blockchain to improve its ecosystem They want to create a new cryptocurrency A fork usually results in a blockchain split i.e. two versions of the blockchain are formed. Depending on how the change in rules is implemented, a fork can be a soft fork or a hard fork. In this article, we’ll briefly discuss the differences between soft and hard forks, and then we’ll talk about the different kinds of hard forks: planned hard forks that are a direct result of the developers and the community choosing to upgrade the existing protocols…

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Coinbase Acquires Decentralized Exchange Paradex

Coinbase Acquires Decentralized Exchange Paradex
Source: Themerkle.com

Coinbase is one of the bigger household names in the world of cryptocurrency. The company is best known for offering its cryptocurrency exchange services to consumers from all over the world. However, even major companies have to keep evolving. As such, the firm recently acquired one of its smaller competitors, Paradex. An Interesting Acquisition by Coinbase In the world of cryptocurrency exchanges, competition is direly needed. Centralized trading platforms are the go-to gateways for novice enthusiasts looking to buy small, medium, and large amounts of cryptocurrency. Coinbase is one of the most popular platforms in this regard, even though there are a few competitors on the market as well. Surprisingly, it seems one of those smaller competitors has attracted the attention of Coinbase. Paradex is a platform which lets users trade virtual coins in a peer-to-peer manner. It is an…

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John McAfee Says Bitcoin Will Surpass $15,000 in June

John McAfee Says Bitcoin Will Surpass $15,000 in June
Source: Bitcoinist.com

John McAfee is back again with another flurry of bold cryptocurrency predictions. In a tweet on May 24th, the tech activist and internet security expert listed five cryptos that will experience huge gains in the summer. The tweet also contained some political predictions on U.S. foreign relations. Bitcoin Will Rise in June and Dip in July According to McAfee, “Bitcoin will surpass $15,000 in June.” The controversial crypto proponent, however, predicts that the spike will be short-lived as he said the number one crypto would dip in July. My short term price predictions: in a major dip, with nearly everything dropping, the price of Docademic doubled since my prediction. The market will turn before June 12th and my predictions will hit. My algorithms predicted Trump’s June 12th date. They have never been wrong. pic.twitter.com/IGAzWPtOV4 — John McAfee (@officialmcafee) May 24,…

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‘Initial Witness Offerings’ and ADAPT: Fixing the ICO Method

Source: Btcmanager.com

A Medium post by software engineer and co-founder of CoinFund, Aleksandr Bulkin, from May 12 invites discussion for his solution to an underdeveloped point in cryptocurrency; regulation in the ICO market. Initial Coin Offerings (ICO’s) was a concept of decentralized crowdfunding that entered cryptocurrency mainstream with the introduction of Ethereum. Since then it has become a toss-up, with some projects meaning well and others resulting in a race of dumping the tokens on an exchange as soon as the ICO is over. The entire ICO scene, regardless of the legitimacy of the project, was a regulatory war zone. This was mostly ignored for a little while, but as regulations closed their grip things began to change in the way ICO’s proceeded. KYC procedures were implemented, to try and appease requirements from stricter governments. As hassle increased, citizens of certain countries…

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Could Blockchain Improve Football Clubs Financial Stability?

Source: Coinspeaker.com

According to reports, the club is in real danger of being banned from UEFA due to the breaching of the financial fair play rule. With £200 million plus interest in the hole (due on October,) the club will potentially go through bankruptcy protection procedures. Which raises the question: How can a highly successful club, with decades of history and success, be capable of such wrong doings and mismanagement? A.C Milan is not the only club to be in the red. In fact, an approximate 80% of clubs worldwide are in financial difficulties and in huge debt. United Fans is a blockchain startup for the football industry looking to bring a solution to the budget shortages. It’s an interesting coincidence that they recently signed with former Milan footballer and a FIFA World Cup holder.  Gianluca Zambrotta. Zambrotta said during the signing…

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Proof of Work Coins on High Alert Following Spate of 51% Attacks

Proof of Work Coins on High Alert Following Spate of 51% Attacks
Source: Bitcoin.com

First it happened to verge. $1.8m of cryptocurrency swiped in a matter of hours. Then to bitcoin gold, plundered in an $18m double spend attack. Then to verge again, this time to the tune of $1.7 million. Along the way, monacoin is also believed to have been hit. Someone is methodically working their way through Proof of Work coins, controlling their hashrate, and then launching 51% attacks. Other PoW teams are now on high alert for signs that their coin could be next. Also read: Caspian Partners With Bitmex to Offer All-In-One Portfolio Services Following a Spate of Attacks, PoW Teams Batten Down the Hatches 51% attacks, in which a malevolent miner controls the majority of the network hashrate and then uses it to force through fraudulent transactions, are commonly discussed but rarely encountered. That all changed on April 4 when…

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