Consensys and Coinbase-Backed Exec To Create GitHub-Like Platform For Web3

Most developers still use GitHub to share their open-source code. However, some people think that this kind of solution is not ideal when we have an emerging crypto world being born. Because of this, Harrison Hines, the CEO of Terminal, has decided to make his own crypto-version of GitHub.

Terminal, which received $3.7 million USD in investments last year from companies such as Coinbase Ventures and passed by the ConsenSys accelerator program, is ready to launch its own developer hub for decentralized projects.

The idea was to create something similar to GitHub but to make it easier for Web3 developers to deploy smart contracts there. As many projects need to use smart contracts, Terminal will allow them to use them on the platform without having to find another more complicated way first.

Vamsi Alluri, a MakerDAO engineer, was bullish on this idea. According to him, a large ecosystem that constantly needs to use smart contracts would benefit from a platform that was designed specifically for their needs.

Web3 platforms are not really hosted or controlled by a single party, so they really need some specific things in order to work properly. The whole process of using them and programming for them changes.

Terminal is set to offer smart contracts, node services, and direct conduits to external programs; all for free. According to the Terminal executives, it would be considerably cheaper to simply use their already existing infrastructure instead of having to pay to use nodes.

How will the project be maintained? It will use a “freemium” system. People can access all the basic features for free, but if they really like the platform and want to upgrade, they will have to pay.

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Author: Gabriel Machado

Financial Giant Plans To Launch Wells Fargo Digital Cash; Internal Settlement Service On DLT

Remember when Wells Fargo froze users’ accounts who bought cryptocurrency using their money? Well, the financial giant is now ready to launch its own digital asset dubbed, Wells Fargo Digital Cash.

It is an internal settlement service that will run and power the company’s decentralized ledger technology (DLT) platform to “complete internal book transfers of cross-border payments within its global network.”

Wells Fargo finally turns to blockchain

Following multiple attempts to shut down blockchain and associated cryptocurrencies, Wells Fargo finally integrated the decentralized and trustless platform in a bid to reduce transaction times and increase security of global transactions.

In a press release on the launch of the Wells Fargo Digital Cash, the head of innovation group at Wells Fargo, Lisa Frazier, praised the company’s move towards DLT and hopes for a reduction of “friction regarding traditional borders.” She further commented,

“Wells Fargo Digital Cash has the potential to enable Wells Fargo to remove barriers to real-time financial interactions across multiple accounts in multiple marketplaces around the world.”

The blockchain allows international partners to transfer funds at any time, cuts out the middleman which saves time and fees of transaction.

How similar is Wells Fargo Digital Cash to JPM Coin?

In the past week, JP Morgan announced they had added over 320 banks to its network including the Deutsche Bank and are in the process of launching their JPM Coin.

While obvious parallels can be drawn between the two projects, Wells Fargo spokesman, Roger Cabrera, confirmed that the bank’s token is a standalone project – not connected to any project. He said,

“Regarding JPM Coin, Wells Fargo Digital Cash runs on a proprietary internal DLT network that is not connected to any other digital cash solutions.”

Furthermore, while the JP Morgan network is built on the Quorum platform, Wells Fargo DLT is built on R3 Corda enterprise version. Cabrera further said,

“[R3 Corda Enterprise] is a distributed ledger solution that allows for appropriate data confidentiality controls, scales to bank transaction volumes and throughput, and supports an information security design that is compatible with Wells Fargo’s industry regulated standards.”

The platform is expected to be launched in 2020 and is expected to complete USD transfers initially with a future view of adding multiple national currencies.

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Author: Lujan Odera

New Linux Malware Mines Cryptos By Using Backdoor: Latest TrendMicro Research

For a long time, Linux users were happy to be free of most malware. Unfortunately, we have been seeing some malware focused on them lately. The latest threat was discovered by TrendMicro and it is called Skidmap.

According to the researchers, this Linux malware mined cryptos without the user knowing by using a secret master password and by masking its mining activities with fake network traffic. As CPU usage is the first red flag of cryptojacking, which is when someone remotely uses your computer to mine tokens, several tactics are employed to cover for it.

Skidmap was said to be a very complex malware, which showcases how these threats are becoming increasingly complex as time passes. Unfortunately, it was not revealed what kind of token was mined by the program.

Initially, the malware installs several malicious files and binaries and then it infects the machine in a way that starts to mine cryptos. A backdoor is also installed to let the operators have more control over the infected computer.

One of the ways in which the hackers get control over the machine is by replacing the pam_unix.so file with a fake one. This enables criminals to log in to the computer whenever they want to. Binaries are also used to monitor illegal mining in real-time and to tweak it to be even more profitable.

It was also revealed that this malware is considered harder than most to be removed, especially because it uses Kernal Module rootkits that basically rewrite some parts of the operating system to work. Because of this, it can even reinfect computers that were already clean.

TrendMicro confirmed that people should always keep their servers updated and patched as a way to escape from this kind of malware and to take care before using third-party programs.

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Author: Hank Klinger

Popular Crypto Payment Processor BitPay To Add Support For Ethereum (ETH) Soon

BitPay, one of the main crypto payment providers in the world now, has recently announced that it would start to support Ethereum-based payments. Ethereum (ETH) is the second-largest token by market cap, which makes this a huge upgrade in the services.

According to the press release, all companies that are already using the services will be free to use Ethereum without having to do anything.

The upgrade will be rolled out automatically as soon as it is ready. Unfortunately, no actual date for the launch was given on the press release. It will also be possible to store the new token on the company’s wallet, which is set to be upgraded to hold it.

BitPay was originally launched back in 2011 and it offered the users the option to pay with Bitcoin (BTC) and then Bitcoin Cash (BCH) after the hard fork. So far, the company’s product has been used to pay over $3 million USD since its creation.

Vitalik Buterin, the co-founder and public face of the Ethereum network, has commented on the update, affirming that it is very exciting to see such a leading company integrating ETH with its payment system. This, he believes, will open a whole new channel for innovation.

In related news, BitPay has been working to improve the security of its systems. The company has just introduced new verification methods this year and will now start to require more information about the users before they are able to use the product. They will need to give their passports of social security numbers before they create an account, for instance.

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Author: Gabriel Machado

Liechtenstein Regulator Grants Approval To German-Startup Neufund For Token Offerings

Neufund, the Fintech startup based in Germany, starts launching public offerings onto its equity platform (which is a tokenized one) after getting clearance from an economic regulator in Liechtenstein.

On Monday (today), the startup announced the tokenized equity’s retail-grade offerings to the general public.

The CEO and co-founder of NZA (Neufund Zoe Adamovicz) affirmed that after clearance from Liechtenstein’s financial authority, the company is supplying on its pledge to equalize approach to support businesspeople all over the world, with smallest sizes of the ticket as 10 euro.

Adamovicz states that it is an excellent day for Neufund as well as for finance and business world.

It’s worth noting that the investors from the USA will need to be approved to participate. In contrast to other tokenized offerings such as an ICO (initial coin offering), Neufund’s product is designed to be a legally binding asset in the company.

The initial public retail offering being started is for a platform that’s an electric mobility one. The platform is dubbed as Greyp. As per the official confirmation from Neufund, till today, $16 million has been  processed using the platform to date.

Being among the most diligent members of the Ethereum network, Neufund is prospering the codebase from 2016. Neufund is also a partner of well-known hardware crypto wallet Ledger.

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Author: Ali Qamar

Blockchain Tech Will Transform Major Industries Within 10 Years: Gartner Hype Cycle Survey

The blockchain technology is certainly bringing a revolution to the financial world. What some people don’t know, however, is that several other industries are bound to be affected as well. Gartner, a giant of the information technology area, has recently affirmed that the blockchain will change most industries within 10 years.

These remarks were made on a press release that talked about its newest research: 2019 Hype Cycle. The report tries to explain how the blockchain is changing business all over the world.

According to David Furlonger, the vice president of research at Gartner, 60% of all CIOs in the survey expected to adopt the technology despite not knowing what impact it will have. However, the lack of governance is still one of the main issues that are still preventing them from achieving the potential of the technology.

18% of all the banking-related companies plan to adopt the blockchain within the 12 next months or already have done it. Other 15% plan to do it within the next two years.

Furlonger affirmed that the financial industry is already adopting the technology at quite a quick pace. However, other non-financial industries are still needing more efforts before they can be able to use the technology properly as well.

To Gartner, the key to the success of the blockchain is tokenization and decentralization. Several industries could decentralize by adopting this kind of technology and see real business value from these decisions. The authors of the study believe that only a few industries do not benefit from the technology and that the market will grow 42% annually until 2024.

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Author: Gabriel Machado

HTC’s Blockchain Smartphone Exodus 1 Will Now Support Bitcoin Cash (BCH)

Exodus 1, the blockchain phone created by HTC, is set to receive support for Bitcoin Cash (BCH). The announcement was made today. The company affirmed that the new function will have the standard wallet of Bitcoin.com installed. The phone is also set to be sold on Bitcoin.com as part of the partnership.

Phil Chen, the Chief Decentralization Officer of HTC, has affirmed that this update on the phone’s technology was the most obvious next step for the project. He affirmed that BCH is an alternative to the original Bitcoin in the payments sphere and that supporting such a big token is a very important move.

With this partnership, the previous company that secured the key management on the phone, Zion Vault, will also be able to secure BCH, not only BTC and ETH, which were the only two tokens to be accepted before.

Users can also make direct swaps via their phone wallets and their Zion Vault wallets, meaning that it is easy and inexpensive to transfer tokens from one device to another one.

At the time of this report, the Exodus 1 phone can be found for $699 USD online. Right now, the company is already planning the second generation of its blockchain phones, though. They are set to be cheaper than the current models, costing from $200 to $300 USD.

The reports seem to indicate that the phones would be shipped soon and that they will provide a considerably more popular and cheap alternative.

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Author: Hank Klinger

India’s Proposed Blanket Bitcoin Ban Will Set The Economy Back As Blockchain Devs And Traders Leave

Being too tough on innovation can be a cause for brain drain. At least that is what some crypto specialists in India believe right now. As the government continues its plans to ban cryptocurrencies locally, India is starting to see its first big signs of brain drain happening in the country.

A complete blanket ban as proposed by the government would basically make it inviable for people who specialize in cryptocurrencies to have a place in the country. These people would possibly be experts in the industry could simply move to other places.

The upcoming law could imprison people for up to 10 years for trading cryptos or dealing with them. This is already prompting people in the industry to plan their exodus from the country.

Rahul Jain, for instance, was interviewed by the Economic Times. He works at a local crypto exchange and affirmed that the company wanted to serve Indians first, but they are having trouble to keep a viable business there.

The CEO of WazirX, Nischal Shetty, affirmed that the bill could erode the wealth of millions of people in the country who are already using Bitcoin. Criminalizing crypto assets, according to him, would be a blow to businesses that were operating completely within the boundaries of the law before.

One of the main concerns of the people in the industry is that the country will also lose the chance to participate in a $10 trillion USD industry, which will certainly harm the local economy.

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Author: Gabriel Machado

Bitcoin Is The “Most Significant Investment Opportunity Of A Generation”: Analyst Travis Kling

  • Crypto has been created for such a time
  • A hedge against monetary irresponsibility from central banks

“Bitcoin is too good at being a store of value right now to be a good method of exchange,” said Travis Kling, equities portfolio manager turned crypto fund executive.

Recently, he stated how “nobody wants to be the Bitcoin pizza guy” and spend 10,000 Bitcoins on a pizza. It also doesn’t make sense when there are better alternatives like Venmo, We Chat, and AliPay available out there, with Libra jumping on the centralized method of exchange as well.

As the BTC price increases and volatility decreases, it is going to be better for a method of exchange but “in the meantime, it’s a great store of value.”

Crypto has been created for such a time

Speaking with CNN on Sept. 15, Kling shared how over the 10-year long history of Bitcoin, he gained more knowledge and come to recognize that this:

“technology was gonna be the most important innovation since the internet” and the “most significant investment opportunity of a generation.”

Bitcoin might have been formerly isolated from the traditional sector but not anymore, With the global macro outlook not looking good what with negative interest rates, quantitative easing policies, trade war, and fear of recession looming on the economy, Bitcoin he said is created for just for “such a time as this.”

“Now is an incredibly interesting time from a global macro perspective and […] it appears that crypto has been created for such a time as this. With what we have in monetary and fiscal policies from central banks and governments, big tech overreach, government overreach, data privacy issues that are coming to the center of the collective consciousness.”

A Hedge against monetary irresponsibility from central banks

Being a “non-sovereign, hard cap supply, global, immutable, decentralized digital store of value,” the leading cryptocurrency is one of its kind that should be considered separately from other digital assets.

These are the very properties that not only distinguishes it from other crypto assets but also make it a timely investment.

Bitcoin, he said, is a “hedge against monetary and fiscal irresponsibility from central banks and governments globally.” Kling further said that Bitcoin is needed as an insurance policy “more today than it did yesterday” in the light of what central banks are doing all across the world.

“It’s apparent that major central banks are all racing to devalue their currencies faster than anybody else […] What are they devaluing against? They’re devaluing against assets that have provable scarcity and gold has provable scarcity. Bitcoin has even more provable scarcity than gold, it’s the hardest money in human history.”

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Author: AnTy

DASH Enters ‘Transfer-Only Mode’ On Coinbase Pro; Bitcoin and USD Trading Pairs To Start Soon

Coinbase has just announced that it would list a new asset on Coinbase Pro, the institutional version of its services. Now, DASH tokens will be listed on the platform. Deposits are already being accepted at the moment and trading opens up at 16:00 UTC.

This is part of a larger initiative. Last month, Coinbase promised to review eight new currencies. DASH happened to be the first of them to be approved for the professional trading platform.

About DASH

DASH is a proof of work crypto focused on payments. It has a wide network of merchants that accept it as payments all over the world. At the moment, the token has a market cap of $800 million USD and it is the 16th largest coin in the market.

According to the CEO of the Dash Core Group, Ryan Taylor, the listing was important, as Coinbase is one of the largest exchanges in the most powerful economy of the world. He also affirmed that the company was under scrutiny recently because of its CoinJoin transactions, which can be used to have more privacy on transactions, but that the listing proves the quality of the asset.

The CEO affirmed that Coinbase understands this and that Dash is far from the only coin to have privacy features. CoinJoin is basically a technique that mixes up transactions. Unlike other privacy protocols, it does not make the transactions completely anonymous, however.

Taylor affirmed that it was important that both clients and regulators understood the difference between complete privacy and privacy features such as CoinJoin. This, he believes, will help DASH to continue with these features without problems.

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Author: Hank Klinger