Metaverse partners with Zhejiang University for Blockchain Technology Laboratory

Professor Hongxin Zhang, Ph.D. in the Department of Mathematics of Zhejiang University (ZJU), paid a special visit to Shanghai on May 4th. While in Shanghai, Professor Zhang had an in-depth conversation with the founder and CEO of Metaverse Eric Gu. They shared opinions on blockchain related applications and discussed their partnership to co-establish the Blockchain Technology Laboratory. Metaverse CTO Chenhao and product director Simon also attended the meeting.

The Blockchain Technology Laboratory will bring together academics and students to collaborate on blockchain research and development, with a focus on industry-inspired problems. Metaverse will support the lab financially, and provide technical support as well.

Zhejiang University (ZJU) is one of China’s leading higher education institutions and enjoys an esteemed reputation worldwide. Dr. Hongxin Zhang previously worked at Microsoft and contributed to the core development of Alibaba Cloud Computing. He has rich experience in research on artificial intelligence and distributed algorithms and currently provides blockchain technical consulting services to governments, banks, and other institutions.

The partnership will cultivate Metaverse’s core business areas — cryptocurrencies and blockchain related technologies — and nurture and develop talents in these areas for the broader Chinese market.

 

EOSIO Dawn 4.0 software code to be released May 11th

Approximately one month after block.one released EOSIO Dawn 3.0, the team has now released Dawn 4.0. Within the past month, the team has been focused on the cleanup and stability of the EOSIO software. One of the biggest changes in EOSIO Dawn 4.0 is the definition change of the current time from “time of head block” to “time of current block”. The switch resolves a lot of corner-cases with time-based operations in the presence of missed blocks and enables much more accurate measuring of elapsed-time within smart contracts.

A new update in EOSIO Dawn 4.0 is the initial pricing of RAM at $0.000018 per byte (assuming $20/token). New accounts require about 4KB of RAM which means they will cost about $0.10. As RAM is reserved the price will automatically increase so that the price approaches infinity before the system runs out of RAM.

Under the Dawn 3.0 system contract, users could only sell RAM for the price they paid. The team’s goal was to disincentivize hoarding and speculation. The downside to this approach is that those who buy RAM cheaply have no financial incentive to free RAM for other users after it gets more congested. Under Dawn 4.0, the system contract now buys and sells RAM allocations at prevailing market prices. This may result in traders buying RAM today in anticipation of potential shortages tomorrow. Overall this will result in the market balancing the supply and demand for RAM over time.

Minimizing Speculation

Now that there is a RAM market, speculators may want to trade RAM price-volatility for profit. The EOSIO system contract makes RAM non-transferrable and charges a 1% fee on trades. The result of this fee is to offset the natural inflation of tokens by taking them out of the market. If the annual trading volume of RAM equals the token supply then 100% of all block producer rewards will be covered by the RAM market fees.

Chain Complexity

The team confirms that the EOSIO Dawn 3.0 had a lot of architecture complexity that was not giving any immediate benefit, they now believe that the path of upgrading from single-threaded to multi-threaded execution is to launch a new chain with multi-threaded support run by the same block producers and staking the same native tokens. This gives the new chain complete freedom to make design tweaks as necessary to support multi-threaded operation without risking an in-place upgrade to a live chain.

With this roadmap to parallelism, the EOS team can simplify EOSIO 1.0 and optimize it for maximum single-threaded performance and ease-of-development. They anticipate that the single-threaded version of EOSIO may one day achieve 5,000–10,000 TPS.

Display Names

Due to the limited development time between now and the release of version 1.0 of the EOSIO software, the EOS team is going to recommend that all account names be forced to 12 characters and not contain any ‘.’ characters. The community will then be able to upgrade the system contract (without hard fork) once viable pricing and anti-name-squatting policies are identified. EOS said they will likely provide a model similar to BitShares where account names are priced by length and character content.

Header-Only Validation

On Steem, BitShares, and EOS Dawn 3.0 and earlier it was not possible to validate a block-header without applying the full block. With EOS Dawn 4.0 the software now supports header-only validation. This feature is the basis of light clients and IBC and also prevents a range of attack vectors while allowing blocks to propagate across the network without waiting for each node to do a full verification.

Exchange Integration Support

As the EOSIO 1.0 release nears, many people are asking for information concerning how exchanges will monitor an EOSIO blockchain for incoming deposits and/or validate that their out-going withdraws are accepted and irreversibly confirmed. The EOS team has now created a tutorial on using cleos (the command line eosio interface) to monitor the chain for incoming deposits. They have also created a demonstration python script that monitors deposits and withdraws. With this tutorial and example script – exchanges will have everything they need to begin integration with EOSIO based blockchains.

Lightweight Producer Schedule Change Proofs

With EOSIO Dawn 4.0 it is now possible to validate changes to the producer schedules without having to validate any block headers. When a producer signs a block they also sign the new schedule such that it is impossible for there to be two competing and validly signed Producer Schedules without ⅔+ of producers colluding or ⅓+ colluding with a very bad network split.

New Producer Pay Paradigm

There has been a lot of community discussion around producer pay and how to allocate the maximum of 5% inflation. The reference system contract that block.one will provide with EOSIO 1.0 will allocate inflation like so:

There are 21 active block producers and any number of standby producers. The top 21 divide up the 0.25% per-block rewards proportional to the number of blocks each one produces. All block producer candidates (including the top 21) also divide up the .75% per-vote rewards budget proportional to the total number of votes they receive. They can claim their share of the per-vote rewards at most once-per-day. In order to claim their share, they must qualify for at least 100 tokens/day. Producers candidates who do not qualify for at least 100 tokens/day on a per-vote basis will receive nothing.

The idea behind this algorithm is to ensure all candidate producers have sufficient pay to provide full-node services to the community and to ensure no one is in the position of receiving money that is insufficient to cover their costs. Assuming the top 200 producer candidates all received the same number of votes this would support 21 active producers and 179 stand-by producers. In reality, some producers will have significantly more votes than others which may reduce the number of paid-standby producers.

 

It is critical to have a minimum per-day payment so those wealthy individuals who have no intention of producing blocks don’t attempt to earn interest on their producer candidate by voting on themselves.

 

Excluding merges, 43 authors have pushed 818 commits to GitHub. This puts EOSIO in the top 8 most active C++ projects on GitHub in the past month.

 

Modern Finance Chain cryptocurrency ecosystem begins presale

After a successful private sale, Modern Finance Chain is beginning their pre token sale with a minimum contribution of 5 ETH, to end May 25. The Modern Finance Chain cryptocurrency ecosystem looks to counteract the payment system problems associated with traditional merchant-consumer transactions. Their goal is to drive cryptocurrency adoption and provide other cryptocurrency projects immediate integration into commerce.

Vic Shybaiev, Modern Finance Chain said, “The problem with Visa/Mastercard and even American Express & Eurocard are that the merchant has no control over the transaction – it’s entirely up to the credit card companies to complete the transaction and decide if the merchant will receive funds or not.”

The Problem

Digital currencies have achieved phenomenal growth in recent years. Cryptocurrency enthusiasts and investors alike have obtained massive wealth in the booming crypto market. Yet because of slow merchant adoption, it still remains fairly inconvenient to pay for goods and services with cryptocurrencies. Additionally, current blockchain projects are isolated and promote innovation only within their own technologies and community. MF Chain has a mission to break down the common barriers of all cryptocurrencies to create a collaborative digital economy that embraces any host of innovation.

The Solution

MF Chain is building the most cost-effective cryptocurrency payment ecosystem that rewards the consumer as well as the merchant. MF Chain’s immediate goal is to become the foundation of commerce powered by the blockchain by bringing users the ability to transact using their favorite coins, based on a zero-fee model along with an innovative merchant rewards program.

The greater vision of Modern Finance Chain is the MF Mainnet. An independent public blockchain that uses a BFT/POS consensus model and a unique master node incentivization protocol. Furthermore, MF Mainnet will allow for the development of enterprise level private blockchains, atomic swap cross-chain transactions, multi-blockchain integration, and a verified digital identity system. Long-term value for Modern Finance Chain will be realized with the Innovation Incubator. Providing upstart projects the resources required to be successful along with a multi-currency ICO Platform that will allow multiple currencies to be accepted during the live token generation event.

Fundamentally, Modern Finance Chain’s goal is to provide consumers, merchants, and enterprises both large and small the ability to capitalize on the convenience and security that cryptocurrency and blockchain provide.

New Cryptopia CEO provides 10 week status report

It has been ten weeks since Alan Booth assumed the position of CEO at New Zealand crypto exchange Cryptopia and has now informed users regarding the progress and current status of the exchange as it continues to grow. Booth said, “he wanted to recap the progress in that time and report back as to what the team has managed to achieve.”

The CEO reports having made significant improvements and is committed to continual advancements to deliver users a fast, secure and customer focused exchange.

To start, Booth said that they have achieved their goal of responding to support tickets within a 72-hour timeframe. They aim to resolve 90% of tickets with that first response, more complex tickets will still require escalation to a more advanced technical support team accordingly and may take longer to resolve. This is positive news, as one point last year Cryptopia publicly apologized for the slow support times users were receiving and vowed to fix the problems.

To help support improve productivity, a new Support Portal launched this past week on Cryptopia where users can easily create tickets, search the help section and find answers to questions. Users say this has significantly streamlined the processes and improved experience.

Further, Cryptopia continues to recruit team embers in order to ensure they have the right people focused on the right tasks required to continually enhance the exchange. Finally, Booth says that exchange security has also improved. The team has phased out of static Two Factor Authentication methods, and are assisting users to stay safer from phishing scams.

“There are more changes coming in this space – we strongly encourage you to set up dynamic (timed) Two Factor Authentication such as an Authentication Application or a Cryptopia device. Thank you again for being a part of our global crypto-community.”

Alan Booth, CEO, Cryptopia on security

 

Bodhi prediction market announces cross-chain Ethereum integration

Only weeks after a successful launch of the Bodhi Prediction Market platform on the Qtum mainnet, the Bodhi Foundation has announced today its plans to expand the Bodhi prediction market DApp (Decentralized Application) to support the Ethereum platform.

This will open the  Bodhi prediction market to many more users, which will facilitate more accurate predictions. After launching the Qtum mainnet more than two months ahead of schedule, the Bodhi team says they are confident in their ability to support multiple chains without affecting the original plan for the Qtum chain.

To facilitate Bodhi’s support of Ethereum, and to ensure that the platform is jointly managed by users from both communities, the Bodhi Foundation will issue a new token, BOE (Bodhi On Ethereum), based on the Ethereum ERC20 token model standard. The BOE will have the same 100 million total supply as the Bodhi Token (BOT).

In order to protect the rights of BOT holders, Bodhi will distribute BOE as a free airdrop to BOT holders at a 1:1 ratio via participating exchange partners. This token is purely a utility token for the purpose of enabling access to the Bodhi platform by Ethereum users, and will not raise any additional funds.

The Bodhi Foundation, as the current holder of 40% of total BOT, will also receive the corollary BOE tokens. The Foundation will disclose and publicize the wallet addresses of both the BOT and BOE tokens held by the Foundation to ensure transparency. Both BOE and BOT will follow the original plan laid out in the white paper to lock the BOT and BOE tokens for the original duration.

Participating exchanges supporting free distribution include Gate.io, Bibox, Allcoin, LBank, and BigOne.

To receive the BOE airdrop, users must deposit BOT onto the above-mentioned exchanges before May 31st, 23:59 GMT+8. BOT not on these exchanges is unable to receive BOE.

On June 1st, 23:59 GMT+8, exchanges will credit all BOT users with the same amount of BOE. After the Bodhi Foundation and exchanges finish the token distribution, BOE will be listed for trading.

 

Pryze and Trustroot partner to secure cryptocurrency sweepstakes

Pryze, a blockchain sweepstakes platform recently announced a new partnership with blockchain security protocol, Trustroot.

This partnership will allow companies who run sweepstakes on the Pryze platform to be fully confident in the validity of their transaction.

With the high rate of fraudulent activity happening within the blockchain community, the addition of Trustroot’s verification will provide customers peace of mind while protecting them from phishing attacks, malware, and other advanced cyber threats.

Pryze utilizes blockchain technology to create a simple and effective solution to an everyday problem. Winning a major prize or funding for your project is a life-changing event for anyone lucky enough to win. Pryze’s dedication is to make this easier by providing a fair, open, cost-effective, and transparent protocol.

“The partnership with Trustroot provides our users increased protection and security when setting up their sweepstake on Pryze. Building a trusted platform is our highest priority, and we are excited to be partnering with Trustroot to keep our customer’s transactions secure.”

Peter Franklin, CEO of Pryze

“The partnership with Pryze is exciting because they are advancing a global sweepstakes business which is currently hampered by overhead costs and complexities. Ensuring the security of sweepstakes transactions advances our goal to create a safer environment for all cryptocurrency users.”

Shayan Zadeh, CEO of Trustroot

Trustroot is a blockchain protocol that protects individuals and businesses from fraud and theft within the cryptocurrency community. The protocol verifies the identity and trustworthiness of the blockchain business users interact with to help avoid scams, phishing attacks, and other fraudulent activity. Learn more about the project at www.trustroot.io.

NeuroToken (NTK) secures listing on HitBTC exchange

Neuromation, recently featured in Wired magazine, is an artificial intelligence (AI) platform,  that is developing cutting-edge solutions for the AI sector, a global industry that is projected to be worth over $50 billion by 2020. The platform and its team are making AI development easier for researchers, organizations, and individuals alike.

To lower these barriers and make AI more affordable, Neuromation’s synthetic data and distributed computing power platform address the two key pain points of the AI industry: the lack of extensive, accurately-labeled datasets and the lack of affordable computing power.

Behind Neuromation’s services is the NeuroToken (NTK), an ERC20 token that powers Neuromation’s blockchain network. NTK will be the platform’s lifeblood, a payment option for the platform’s services.  With the token, users can purchase datasets, AI models, and even computing power from Neuromation’s data marketplace.

HitBTC Exchange Listing

Neuromation today confirmed to users that  NTK will begin trading on HitBTC this week. Consistently in the top 15 cryptocurrency exchanges by trading volume according to CoinMarketCap, HitBTC averages over $250 million in trading volume daily. This is another step in providing Neuromation’s users with NTK liquidity to allow seamless transactions on the Platform.

The NTK will be listed with three trading options: NTK/ETH, NTK/BTC, and NTK/USD.

The Neuromation team said:

“We powered our team with strong C-level professionals from Silicon Valley. This exciting moment in our corporate development, together with the listing of the NTK on two major exchanges, gives us a great new horizon. We are dedicated to creating a seamless experience for every buyer and seller of AI services on the NeuroPlatfom marketplace, for every market and every language around the world.”

It’s a busy time at Neuromation. This is the NeuroToken’s second top 20 exchange listing in a week, as the team secured a listing on BCEX exchange, a top-20 exchange focused on the Chinese-speaking users, on May 3. These listings will give the project more simplified transaction execution, and increase overall project exposure. The Neuromation continues to develop the Platform with some of the best international AI talents.

HitBTC is a European based and long running cryptocurrency exchange. Created by technical minds, high-level finance professionals and experienced traders, HitBTC delivers a powerful platform solution. The platform core matching engine offers traders a wide range of features such as real-time clearing and fast order matching algorithms. HitBTC is operated by HIT Solution Ltd. based in Hong Kong.

 

DISCLAIMER: This material should not be construed as an offer to sell or buy securities or any other assets in any jurisdiction, a solicitation for investment, or investment advice. NTK tokens are utility tokens issued by Neuromation OÜ (incorporated under the laws of Estonia, reg. code 14331930) providing users with current and/or future access to Neuromation OÜ’s products or services. Persons wishing to sell or purchase NTK tokens should seek the advice of independent experts before entering into any such transaction and shall enter into such transactions at their own risk. Neuromation OÜ, its directors, officers, employees, and associates expressly disclaim any liability related to the accuracy, reliability, or completeness of any material contained herein.

Melonport founders become advisors to Midas

Digital asset investment platform Midas today announced that Mona El Isa and Reto Trinkler of Melonport, a blockchain protocol for digital asset management will join the Midas advisory board and support the team with the development of Midas on multiple levels. Moreover, Mona El Isa will be first to take a seat on its board of directors that will be rotated annually between both advisors.

Midas uses the Melon protocol as the technological basis for their investing infrastructure. The team said that as its development proceeds and the moment of the Midas TGE moves closer, they decided to strengthen their contact with Melonport in order to cultivate several areas of collaboration.

Reto Trinkler will assist Midas with his extensive expertise and knowledge in software development as well as his deep understanding of the Melon protocol to ensure the optimum integration of Midas and Melon. Furthermore, his activity within the Web 3 community and the general crypto ecosystem will help to further shape strategic partnerships and promote the establishment of Midas.

Mona El Isa will support the proper introduction of Midas to the market, while her network among experts, industry leaders, as well as regulators, will help Midas the right regulatory framework for Midas.

In return, Midas will commit parts of their resources to the further development of the Melon protocol as well as the wider Melon ecosystem.

In the course of his assignment as advisor Reto Trinkler stated:

“Ease of use is one of the most overlooked aspects in the design of blockchain applications and it’s what Midas is focused on with the Midas Touch. I’m very happy to be part of this collaborative effort to re-engineer one of the biggest industries of modern day society — Asset Management.”

CG Blockchain closes Blockchain Terminal token sale with $31 million

CG Blockchain, Inc., a New York-based company developing powerful sets of blockchain-based tools and services for the financial services industry, today announced that its affiliate BCT Inc. has closed the online public sale of its BCT ERC20-compliant utility token, raising over $31 million.

The BCT public token sale began April 1 and tokens are scheduled to be distributed at the end of May. Before the distribution date, BCT Inc. will continue discussions with interested parties that include exchanges, beta testers, and distribution partners, who can still buy the token beyond the conclusion of the online public sale. BCT Inc. has set a cap of an additional $20 million for these potential buyers.

BCT Inc. offers a comprehensive suite of proprietary and third-party application tools for hedge funds, wealth management enterprises, and other institutional traders to trade cryptocurrency through its Blockchain Terminal–a single, integrated interface for trading cryptocurrency across 65 major cryptocurrency exchanges.  Among the third-party applications planned for the Blockchain Terminal is ComplianceGuard, owned by BCT Inc. affiliate CG Blockchain, the first software developed to monitor traders’ desktops while simultaneously writing all transactions to a private blockchain, rendering the transactions immutable. The Blockchain Terminal with the ComplianceGuard software is currently running with a select group of traders and hedge funds that have approximately $1.8 billion USD in assets under management.

“During the past two months, the Blockchain Terminal has hit milestone after milestone: growing its exchange base from two to four to 40 to now over 80 exchanges on the platform. The Blockchain Terminal now features a UI/UX that is beautiful and easy to navigate and a consolidated order book that is much easier to use than any other platform we’ve seen. The Blockchain Terminal has been shipped to domestic and international partners in both crypto and traditional trading. And there is much more to come,” said CG Blockchain President Bob Bonomo.

CG Blockchain and its associated companies are also actively collaborating with companies such as computer technology company Dell and algorithm marketplace Tradingene for additional features and markets.

“To have achieved what the team at BCT Inc. has managed to do during such a difficult time for the ICO market is extraordinary – and I believe the Blockchain Terminal will change the way the market operates when it is adopted widely,” said Joel Emery of Tareo Capital, a CG Blockchain advisor and Blockchain Terminal tester.

The BCT utility token is the primary token powering the Blockchain Terminal ledger. The Blockchain Terminal also includes a secondary ERC20-compliant token, available since the platform’s launch, that represents subscription and entitlement to the services provided by the native BCT token. Together, the two tokens secure the integrity and provide incentives for the correct functioning of the Blockchain Terminal platform.

“Given the current turbulence of the ICO market, we couldn’t be happier about the response to the Blockchain Terminal token. We want to thank all of our advisors, partners, employees, and token participants for their efforts during this process,” said CG Blockchain President Bob Bonomo. “As impressive as that effort is, we still have much work ahead, from finding additional partners to token distribution to continuing to build out the top crypto-focused resource for hedge funds and other investors.”

These Altcoins Outperformed Bitcoin Last Week – Can They Continue the Uptrend?

Altcoins Outperformed Bitcoin

The latest bull-run allowed Altcoins to recover from a four-month-low: Altcoins experienced a sharper selloff than Bitcoin (BTC) in the previous month and at the beginning of April, due to regulatory concerns in the Asian markets and a broader selloff in crypto markets.

However, the latest bull-run provided huge support to altcoins.

The majority of top 10 Altcoins outperformed bitcoin regarding price appreciation last week. With an exception to Litecoin (LTC) and Bitcoin Cash (BCH), the majority of altcoins have posted high double-digit growth in the previous week, led by substantial gains from Cardano (ADA), IOTA (MIOTA), Stellar (XLM) and NEM (NEM).  

Altcoins Outperformed Bitcoin

Source Image: coinmarketcap.com

IOTA Outperformed Cryptocurrencies

IOTA was among the prominent gainers last week. Its price jumped almost 50% in the last seven days, sharply higher from BTC price growth of 15%. Along with broader market rally, MIOTA coin received support from various reports, including the joining of Fujitsu executive Rolf Werner and the announcement of the Trinity desktop-wallet launch.

Navin Ramachandran, the IOTA developer, stated that the Trinity wallet app is in the stage of an alpha testing and it is set to conclude in the coming 6-7 weeks.

Cardano, Stellar and NEM Posted Substantial Gains

Cardano is the second largest gainer among the top ten altcoins. ADA price soared 45% last week to the highest level in the last month. ADA coin trades around $0.23 at present.

Stellar and NEM has also posted significant gains in the past week. NEM coin surged 45% last week to $0.34 – with the market capitalization of $3.1 billion. NEM coin started recovering losses that it had made last month due to the theft of $500 million Coincheck hack.

Here’s What to Expect

Altcoins were in the green during the weekend and extended that momentum into early trading on Monday before losing some ground later in the trade. Market pundits are expecting altcoins to post a sustainable rally in the days to come. They believe higher scrutiny from South Korean and Japanese regulators strengthened trader’s confidence in cryptocurrency markets.

Featured Image: Twitter

  • beware binance hacks

    after contacting binance about its vulnerability and gave them detailed info about how to repro, they replied with a lecture about my bad english without acknowledging the problem. This concerns me as many people are loosing money getting hacked daily and they will not fix. I have been pentesting applications and servers since the 90’s but my english is not best.

    What is happening is when you are logged into binance, and visits a crypto news site, your account details are stolen using (bad english here) session hijack or a xss script attack. Unsure of the exact method as I do not have access to their source code.
    But it happens to many people and binance fails to pay them back or want to admit fault. I am posting here to let the community know there is a problem with exchanges being targeted this way as its a low level attack but involves billions potential dollars. The vulnerability has been issued to cert and securityfocus for analysis reference VRF#18-04-BTLKH.

    thank you