Parity Forced to Shut Down ICO Passport Service (PICOPS) Due to GDPR

Parity, the wallet and blockchain provider, is shutting down its PICOPS platform effective May 24, 2018, due to complications stemming from the new EU GDPR guidelines. The company announced the decision in a blog post on its website on May 18. PICOPS: The Latest Casualty of the New EU GDPR The General Data Protection Law (GDPR) of the EU is causing problems for blockchain and cryptocurrency. Part of the fundamental principle of the blockchain is

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South Africa Gets Its First Multi-Currency Crypto ATM

As cryptocurrency interest and trading continues to grow in South Africa, some retailers are hoping to cash in. The country will soon be the second in southern Africa to launch a crypto ATM. After February’s election of Cyril Ramaphosa as South Africa’s new president, things seemed to be looking up. However, the country is now facing new challenges with the ongoing land reform debate as well as continued allegations of corruption in the country’s government.

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Watchout! Satori Botnet Targets Exposed Ethereum Miners

Yesterday, BleepingComputer brought to light recent reports that have Ethereum miners worried, as enslaved internet-connected devices have been targeting miners worldwide.  Evidence filed by multiple internet security companies have shown that the Satori botnet, a system of IoT devices which number in the tens of thousands, has been trying to infiltrate Ethereum miners through a 3333 port exploit. This specific port has often been a way in which miners can remotely control their mining equipment,

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Wallet To Accept Collectibles Such As Crypto Kitties And Fighters As Functionality Expands

The new service will use ERC-721 compliant tokens to ensure rare and desirable assets are sold as a whole rather than in parts.

An established crypto wallet provider is developing a service where users can store collectibles – ranging from rare digital pets to desirable fighters.

Lumi says its service will allow users to swipe through their collection at ease – and it is currently invited interested crypto holders to sign up via email.

The company says it wants to help crypto holders bring all of their “unique collectible characters in one place” – including CryptoKitties, CryptoCuties, CryptoAlpaca, CryptoFighters and CryptoCelebrities. It hopes to support thousands more upon launch.

Most of these assets drive from games where players can breed and collect rare characters. In the case of CryptoKitties, “adorable creatures” cannot be replicated, removed or destroyed – meaning that unique creations retain their value. Given the immense value in the collectibles market, blockchain also helps ensure that ownership of these prized animals is tracked securely.

ERC-721 compatible tokens are going to be used by the Lumi Wallet for collectibles. The company says this is because rare collectibles such as Crypto Kitty have attributes such as color, age or breed which make them extremely desirable. In one case, it claims a particularly rare cat was traded for $110,000 through the platform.

The company adds that these tokens also ensure that assets are sold as a whole, rather than in parts. Although ERC-20 compliant tokens enable assets to be divided into small amounts when a sale is taking place, Lumi argues that this approach is incompatible with the collectibles industry – and it would be absolutely unheard of in the real world.

A thriving app

Lumi already offers an ERC20 standard-compatible wallet which is available through Apple’s App Store and Google Play, the marketplace for Android devices. The company also has a web version of its interface, and says it “never sits still” and is always offering new services to customers.

Its crypto wallet allows Bitcoin and Ethereum to be sent and received securely, and any account can be recovered through a 12-word backup phrase in the event that devices are lost or stolen. At a glance, it provides a clear indicator of how much assets – such as cryptocurrencies and collectibles – are worth in BTC, ETH and US dollars, with price graphs indicating any fluctuation in value during recent trading sessions. PIN codes and Face ID technology also helps guarantee that funds are protected.

When funds are being transferred, Lumi offers four different tiers of fees based on how long transactions will take to complete – meaning there are options for crypto holders on all budgets.

 

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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Chinese ASIC Manufacturer To Turn To AI In Case Of Stricter Gov’t Regulation

Bitmain is looking to artificial intelligence as the natural option to turn to in case of an increase in China’s already stringent crypto regulations.

Due to the recent crypto crackdown in China, Chinese ASIC chip manufacturer Bitmain is turning to artificial intelligence (AI) as an alternate revenue source, Bloomberg reports today, May 17.

China’s crypto regulations have included an initial coin offering (ICO) ban in the fall of last year, this January’s ban on “exchange-like services,” and the February ban on foreign crypto exchanges.

Bitmain manufactures the processing chips and miners that mine for a variety of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and altcoin Monero; although the release of the Monero-mining Antminer at the end of March led Monero to upgrade in order to preserve its ASIC-resistant nature.

Jihan Wu, Bitmain’s co-chief executive, told Bloomberg in one of his infrequent interviews that because “artificial intelligence requires lots of computations,” it is the natural alternative option for the ASIC manufacturer:

“As a China company, we have to be prepared.”

Bitmain’s Sophon BM1680 chip, which they began selling in October, can more cheaply speed up machine learning as compared to those made by Nvidia and Advanced Micro Devices Inc, although it is not as powerful.

Wu — who predicts that AI chips could account for up to 40 percent of Bitmain’s revenue in five years — told Bloomberg that Bitmain is “just trying to do something that they cannot take care of well enough.”

At the end of February this year, a report showed that Bitmain, a four-year-old company, made between $3 and $4 bln in operating profits in 2017, as compared to twenty-seven-year-old competitor Nvidia, who made about $3 bln during the same period.

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Bitcoin Price Declines To Nearly $8k Amidst Bing Crypto Ad Ban

Crypto markets see a sharp decline over 24 hours, almost all of top 100 altcoins on Coinmarketcap are in the red.

May 16: Crypto markets have seen a sharp decline over the past 24 hours with almost all of top 100 coins listed on Coinmarketcap (CMC) in the red.

COIN360

Market visualization from Coin360

After losing the $9,000 support on May 11, Bitcoin (BTC) continued its fall, now approaching the $8,000 level. Having lost almost 3 percent of its value in 24 hours to press time, the original cryptocurrency is currently trading at $8,288. Despite this most recent fall, Bitcoin has seen over 3 percent gains over the last 30 days, according to Cointelegraph Price Index.

Bitcoin price chart

Bitcoin price chart. Source: Cointelegraph Bitcoin Price Index

Ethereum (ETH) has dipped below $700, now hovering around the mark with a 2.31 percent loss over 24 hours to press time.

Ethereum price chart

Ethereum price chart. Source: Cointelegraph Ethereum Price Index

Total market cap has lost nearly $100 bln over the last 10 days, dropping to as low as $381 bln at press time.

Total market capitalization chart

Total market capitalization chart. Source: CoinMarketCap

EOS and Stellar (XLM) have seen some of the biggest declines over 24 hours at over 5 and six percent, respectively. The coins are currently trading at $12.31 and $0.329 respectively.

Bitcoin Cash (BCH) is down almost 7 percent over a one-day period, trading at $1,269 at press time. Yesterday, May 15, BCH implemented a hard fork that increased its block size from 8MB to 32MB and reactivated Bitcoin script operation codes (Op codes) – an upgrade, which has so far apparently failed to produce a positive effect on the price.

The decline in crypto markets coincided with the recent decision by Microsoft-owned search engine Bing to join the ranks of other internet giants in banning crypto-related ads from its network by July 2018.

Cryptocurrencies also came under criticism by European financial authorities. Monday, May 14, European Central Bank (ECB) board member Yves Mersch claimed that banks should “segregate” their dealings in cryptocurrencies from other activities, citing high volatility of crypto markets and stressing that digital tokens “do not qualify as money.”

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HTC Reveals Plans To Launch Blockchain-Powered Smartphone

HTC reveals plans to release a multiple blockchain-powered smartphone to allow customers to “truly own their data.”

Consumer electronics corporation HTC has unveiled “the first native blockchain phone”, HTC Exodus, which will launch with support for multiple blockchains, including Bitcoin (BTC) and Ethereum (ETH) networks, PCMag reported May 15. HTC Vive creator Phil Chen announced the forthcoming project at the Consensus conference in New York City today.

Chen highlighted that the upcoming phone will support “multiple blockchain protocols,” such as Bitcoin, Ethereum, Lightning Network (LN), and Dfinity network. He said the company’s mission is to support the entire blockchain ecosystem in order to “help underlying protocols expand their base of dedicated nodes.”

The Android mobile device will reportedly feature a universal cryptocurrency wallet as well as a “secure hardware enclave.” Chen also stressed that the HTC Exodus would provide high standards of security and data protection:

“I want to see a world where the end consumers can truly own their data—browsing history, identity, assets, wallets, emails, messaging—without the need for central authorities.”

While Chen did not specify either the estimated price of Exodus or the expected release date, he said that the company may consider cryptocurrency as a means of payment for the upcoming multiple blockchain-powered phone.

HTC has seen its global market share in mobile devices shrink from nearly 11 percent in 2011 to less than one percent last year. While HTC’s high-end smartphone production could reach 500,000 to 1 mln this year, that number pales in comparison to Samsung, who reportedly shipped 20 mln units of the Galaxy S8 in 2017.

HTC is not the first to develop a blockchain-based mobile phone. In April, the blockchain-oriented OS developer and supplier Sirin Labs found a manufacturer for its blockchain smartphone. FIH Mobile, a subsidiary of Foxconn Technology, has agreed to help develop the phone. Foxconn is a giant in electronics contract manufacturing, with clients including Apple, Google, Cisco, Huawei, and Amazon.

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Amazon And ConsenSys’ Startup To Offer Simplified Blockchain Platforms

Amazon’s cloud computing arm is teaming up with ConsenSys’ blockchain startup Kaleido to develop simplified blockchain cloud platforms for its clients.

Amazon Web Services (AWS), the tech giant’s cloud computing arm, is partnering with ConsenSys’ blockchain startup Kaleido to offer simplified blockchain cloud platforms for its clients, CNBC reports today, May 15.

Kaleido is a blockchain business cloud that helps enterprises build and manage blockchain platforms without having to start from scratch, and is based on the Ethereum blockchain. It is one of the emerging ventures supported by Joseph Lubin’s blockchain incubator ConsenSys, who introduced the project today in New York:

Lubin told CNBC that Amazon’s move “is a heavy duty, full stack way of getting the company into blockchain solutions.”

Kaleido is already listed on AWS marketplace, where it explains that the blockchain solution is designed to accelerate the “entire journey from experimentation and PoCs [proofs-of-concept] to pilots and production.” Clients can choose “between Ethereum protocol packages Geth and Quorum” as well as “consensus algorithms such as RAFT, IBFT, and POA.”

As Steve Cerveny, one of the founders of Kaleido, told CNBC, companies can therefore “focus on their scenario, [without having] to become PhDs in cryptography.”

Before its latest partnership with Kaleido, in April AWS released a blockchain framework for Ethereum (ETH) and Hyperledger Fabric, allowing its users to build and manage their own blockchain-powered decentralized applications (DApps). Last year, a petition directed at Amazon founder Jeff Bezos demanded that cryptocurrencies be accepted as a mode of payment on the e-commerce platform, but the company has to date not made this option available.

Ethereum is currently trading at $737.75 at press time, down 0.33 percent over a 24-hour period.

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Amazon And ConsenSys’ Startup To Offer Simplified Blockchain Platforms

Amazon’s cloud computing arm is teaming up with ConsenSys’ blockchain startup Kaleido to develop simplified blockchain cloud platforms for its clients.

Amazon Web Services (AWS), the tech giant’s cloud computing arm, is partnering with ConsenSys’ blockchain startup Kaleido to offer simplified blockchain cloud platforms for its clients, CNBC reports today, May 15.

Kaleido is a blockchain business cloud that helps enterprises build and manage blockchain platforms without having to start from scratch, and is based on the Ethereum blockchain. It is one of the emerging ventures supported by Joseph Lubin’s blockchain incubator ConsenSys, who introduced the project today in New York:

Lubin told CNBC that Amazon’s move “is a heavy duty, full stack way of getting the company into blockchain solutions.”

Kaleido is already listed on AWS marketplace, where it explains that the blockchain solution is designed to accelerate the “entire journey from experimentation and PoCs [proofs-of-concept] to pilots and production.” Clients can choose “between Ethereum protocol packages Geth and Quorum” as well as “consensus algorithms such as RAFT, IBFT, and POA.”

As Steve Cerveny, one of the founders of Kaleido, told CNBC, companies can therefore “focus on their scenario, [without having] to become PhDs in cryptography.”

Before its latest partnership with Kaleido, in April AWS released a blockchain framework for Ethereum (ETH) and Hyperledger Fabric, allowing its users to build and manage their own blockchain-powered decentralized applications (DApps). Last year, a petition directed at Amazon founder Jeff Bezos demanded that cryptocurrencies be accepted as a mode of payment on the e-commerce platform, but the company has to date not made this option available.

Ethereum is currently trading at $737.75 at press time, down 0.33 percent over a 24-hour period.

Continue Reading

Amazon And ConsenSys’ Startup To Offer Simplified Blockchain Platforms

Amazon’s cloud computing arm is teaming up with ConsenSys’ blockchain startup Kaleido to develop simplified blockchain cloud platforms for its clients.

Amazon Web Services (AWS), the tech giant’s cloud computing arm, is partnering with ConsenSys’ blockchain startup Kaleido to offer simplified blockchain cloud platforms for its clients, CNBC reports today, May 15.

Kaleido is a blockchain business cloud that helps enterprises build and manage blockchain platforms without having to start from scratch, and is based on the Ethereum blockchain. It is one of the emerging ventures supported by Joseph Lubin’s blockchain incubator ConsenSys, who introduced the project today in New York:

Lubin told CNBC that Amazon’s move “is a heavy duty, full stack way of getting the company into blockchain solutions.”

Kaleido is already listed on AWS marketplace, where it explains that the blockchain solution is designed to accelerate the “entire journey from experimentation and PoCs [proofs-of-concept] to pilots and production.” Clients can choose “between Ethereum protocol packages Geth and Quorum” as well as “consensus algorithms such as RAFT, IBFT, and POA.”

As Steve Cerveny, one of the founders of Kaleido, told CNBC, companies can therefore “focus on their scenario, [without having] to become PhDs in cryptography.”

Before its latest partnership with Kaleido, in April AWS released a blockchain framework for Ethereum (ETH) and Hyperledger Fabric, allowing its users to build and manage their own blockchain-powered decentralized applications (DApps). Last year, a petition directed at Amazon founder Jeff Bezos demanded that cryptocurrencies be accepted as a mode of payment on the e-commerce platform, but the company has to date not made this option available.

Ethereum is currently trading at $737.75 at press time, down 0.33 percent over a 24-hour period.

Continue Reading