Block.One to Offer Enterprise Blockchain Service Via It’s New ‘EOSIO for Business’ Platform

Block.one, the developer platform behind the EOS network, has launched an Enterprise-grade blockchain solution called EOSIO for Business. The new enterprise platform would allow businesses to leverage their offering on the decentralized tech.

The business platform offers four modes to its clients, which can be utilized to build and maintain blockchain-based infrastructure. The four modes include Blockchain-as-a-Service (BAAS), training businesses on utilizing the platform, technical support, and a certification program.

Ted Cahall, Block.one’s Chief Operating Officer (COO) commented on the launch of the enterprise-grade blockchain solution and said,

“Despite knowing the inherent benefits that blockchain will deliver to their business operations, many in-house product engineering teams are wary of the complexity involved in setting up and administering their blockchain.”

“Our EOSIO for Business customers will be able to work directly with EOSIO experts to ensure that their implementations seamlessly integrate with existing technology, and they will also have exclusive access to the newest EOSIO features and upgrades.”

How EOSIO Promises To Help Enterprises Scale?

The new enterprise-grade blockchain solution from Block.one promises to help businesses grow and scale via its platform without worrying about the technical aspect and maintenance of the services. This part would be taken care of by Block.one itself whose BaaS service would include complete technical support along with maintenance of the EOSIO network

The consulting and certification part of the platform would make it more interactive and help the businesses utilize the decentralized tech as per their business model. The EOS engineers promise to help these enterprises to grow without worrying about maintenance or technical complexities.

Mythical Games is one of the first business rosters for the EOSIO platform. Rudy Koch, co-founder and SVP of Business Development at Mythical Games, said that their association with the EOSIO platform had enabled them to meet their goals. He said,

“At Mythical, we are redefining game economies and creating new revenue opportunities by putting more power and ownership in the hands of players and content creators. EOSIO is an integral part of our efforts.

Leveraging Block.one’s EOSIO BaaS service enables us to continue delivering world-class game technology products to our players and partners.”

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Author: Rebecca Asseh

Another Fork of the Fork? Bitcoin Cash Upgrade Coming in November

Bitcoin ABC and its lead developer Amaury Sechet are forking Bitcoin Cash now, according to BCH proponent Roger Ver.

“Bitcoin ABC and @deadalnix have announced that they are forking away from #BitcoinCash on Nov 15th. We wish them good luck with their new coin and thank them for the free airdrop to all BCH holders,” tweeted Ver.

Ironically, November 15th is also the day when Bitcoin Cash (BCH) was hard forked into Bitcoin SV (BSV) back in 2018.

However, it is just an upgrade, as a month back, Sechet published an update about Bitcoin ABC where he talked about making primary improvements such as a new Coinbase Rule and change to the Difficulty Adjustment Algorithm to the blockchain.

“The addition of this new rule represents a significant step. […] node implementations, have developed a financial reliance on powerful interests such as mining corporations, venture capital funds, and angel investors,” read the blog.

Ver’s reaction came following Bitcoin ABC’s 0.22.1 release, which will activate the new coinbase rule, diverting 8% of all newly minted BCH to a development fund on Nov. 15.

Cointext CTO Vin Armani, who sees a split to be a more desirable outcome than infighting, says the most important thing about the event is that “there will finally be a Bitcoin network, with the roadmap necessary to become peer-to-peer cash at a global scale, that doesn’t include vocal and influential humans who believe you can fund such a project with donations.”

He further shared that the vocal people in the council have cryptographically proven that they are major miners and holders in the network, and their incentives are aligned with increasing the value of the network. If these influential people get “overthrown,” it will be by those with an even greater stake.

In the Bitcoin Cash network, Bitcoin ABC has 533 nodes (42%), while BCHN’s 126 nodes represent just a 10% share in the network’s 1,260 total nodes.

Bitcoin Unlimited (BU) implementation that has the largest share 44%, with 565 nodes, however, is opposed to the coinbase rule. And if BU and BCHN come together, they can reject the November upgrade.

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Author: AnTy

Charles Schwab-backed Ethereum App Alchemy Opens for Public

  • Blockchain startup Alchemy is opening its services to any developer or company that wants to build smart contract-based projects.

Founded in 2017 by Nikil Viswanathan and Joe Lau, Alchemy powers 70% of the top applications on Ethereum and has been operating in private mode until now. The company has investors like Coinbase, Charles Schwab, Jay Z, Will Smith, Duncan Niederauer, John Hennessy, Jerry Yang, and Ruchi Sanghvi.

“We’re all here because we believe blockchain will be as powerful as the internet,” Viswanathan told Bloomberg in an interview.

Alchemy boasts 4 million users worldwide and processes $7.8 billion a year.

The San Francisco-based firm is helping the new business model, Decentralized Finance (DeFi) build. Already, the likes of stablecoin and crypto loan service MakerDAO, collectible service CryptoKitties, prediction market Augur, and non-fungible token platform OpenSea are using Alchemy to run their operations.

“If we can make development easier, then more apps will come online, and crypto will grow,” said Viswanathan.

The company is also considering going public in the future.

Both the founders are big fans of Bitcoin, but Ethereum provided them with a new set of possibilities. “The real moment for us was Ethereum,” Viswanathan said. “We saw that and said, ‘oh my god, that’s the future.’” But said currently the market doesn’t have the tools instead just picks and shovels to build skyscrapers in Ethereum.

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Author: AnTy

Ethereum Developer Challenges Hackers to Break ETH2 Testnets; Collect $10k Reward

Danny Ryan, one of the core developers of the Ethereum developer community, has challenged white hat hackers to hack into a pair of ETH2 testnets.

Ethereum’s most significant upgrade since its inception where the Ethereum mainnet will transition from Proof-of-Work (PoW) based mining consensus to Proof-of-Stake (PoS) and has been dubbed Ethereum 2.0. The transition from Ethereum to Ethereum 2.0 will happen in phases through a series of hard forks.

While there is much debate on when ETH2 will launch, the testnets are already up and running, and Ethereum is expecting to add thousands of node validators to keep the network decentralized. Ethereum 2.0 is also believed to help Ethereum’s current struggle with scalability and transaction processing. Ethereum co-founder Vitalik Buterin has claimed that the network would be able to process thousands of transactions per second. Ryan tweeted the invitation with a link to a Github page with the details and parameters of the challenge. He wrote:

“We welcome white hats to bring down the two beta-0 attacknets for reward and fame 🙂

Check out the new “attacknets” channel on the eth r&d discord for discussion.”

What is The Target For White Hat Hackers?

The target for the “attacknets” are two miniature versions of ETH2 clients, namely Lighthouse and Prysm, which have been designed to access the ETH 2.0 network. However, unlike mainstream clients, which comprise thousands of nodes, these attacknets miniature clients would have only four nodes.

The hackers are required to prevent blocks from confirming transactions and double-spending. These white hat hackers would be required to create a 51% attack scenario, which is what a quality blockchain was designed to prevent.

Many blockchain networks have hundreds of validators, but ETH 2.0 has set a target of 16,000 validators in the beginning and then expand it to hundreds of thousands of validators with time to keep it as decentralized as possible.

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Author: Hank Klinger

ETH 2.0 on Track for a Late 2020 (November) Launch, Says Long Time Ethereum Contributor

An Ethereum core developer believes the community won’t have to wait for 2020 for the release of the ETH 2.0 beacon chain.

“The Ethereum 2.0 beacon chain will launch in November unless we find severe bugs in clients or protocol,” said Afri Schoedon, a long time Ethereum contributor.

As we reported earlier this month, Justin Drake, a researcher at the Ethereum Foundation, said during a Reddit AMA that the “earliest practical date for genesis” is January 3, 2021, Bitcoin’s 12th anniversary.

At that time Ethereum co-founder Vitalik Buterin had also said that he “personally quite disagree” with the 2020 launch date and favors “launching phase 0 significantly before that date regardless of level of readiness :D”

In a recent interview, Schoedon shared, “I don’t think that we necessarily need to delay Ethereum 2.0 into 2021 unless we find critical issues. We are well on track for a late 2020 launch.” Schoedon, who quit the Ethereum community in February last year, said he

“never left Ethereum (…) just ceased active contributions and retired my online-identity after threats of physical violence against my family.”

He shared that many people mistakenly believed his “volunteering in a key-role of hard-fork coordination for Ethereum (…) a role of power,” after he made an “unfortunate statement on Twitter.”

He is now working on launching testnets and benchmarking clients. Explaining ETH 2.0 in plain words, he said one has to put 32 coins in a wallet that you “will not be able to retrieve (again),” for which you get a “Validator” badge, and that gets you to earn rewards that eventually in future can be cashed out.

Currently, the team is preparing for the testnet release, and at least five clients have implemented the latest version of ETH 1.0 with Altona testnet appearing to be running stable.

This means they will be “launching the official multi-client testnet Medalla very soon, which would mark the final step towards an Ethereum 2.0 mainnet launch,” said Schoedon who is a layer-1 person and doesn’t follow the latest craze, DeFi, which align with exploding growth of stablecoin as helped Ethereum surpass Bitcoin in daily settlement value.

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Author: AnTy

Canadian Tech Startup Sues ConsenSys For Stealing Payment Coding; Lawsuit is Fabricated

Canadian tech startup, BlockCrushr, is taking Ethereum developer, ConsenSys, to court over the stolen intellectual property of a payment solution. The plaintiff claims ConsenSys stole its source code when they participated in a ConsenSys-sponsored hackathon to create a rival payment system to theirs.

In a filing to the Eastern District of New York Court, BlockCrushr claims ConsenSys broke trust as an investor by stealing trade secrets and launching a rival version of their recurring payments platform, a day before they began.

The link between the two companies started in 2020 when BlockCrushr participated in ConsenSys’ Tachyon Accelerator Program. ConsenSys had also invested $100,000 into the company, but the founders of the company believe the mentor was simply playing them to steal their trade secrets.

BlockCrushr claims it shared a “detailed every aspect of its marketing, financial, technical, and regulatory strategy” to ConsenSys during the Accelerator program. Furthermore, the filing states they shared over 120,000 lines of source code of their recurring payments platform to gain guidance.

The complaint states that following the Accelerator program, ConsenSys would invest and guide the company forward, but no funding came. Due to cash strains and lack of funding, BlockCrushr’s founders Andrew Redden and Scott Burke, claim they had to lay off employees to streamline funding.

After securing a new round of funding, BlockCrushr moved to launch to market but were beaten to it by ConsenSy’s new recurring payments platform, “Daisy Payments,” which began on August 22nd, 2019, a day before their slated product launch.

TheBlock was able to get a comment from the ConsenSys legal counsel team who claim the story by BlockCrushr is fabricated and false but declined to comment before the court hearing.

The Canadian tech startup is now suing ConsenSys for damages caused by misappropriation of trade secrets and a breach of contract.

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Author: Lujan Odera

Coinbase Custody and IOHK Partner to Provide Institutional-Grade Staking For Cardano’s ADA in Q4

IOHK, the lead developer of Cardano blockchain, and Coinbase Custody, the institutional-grade custodian launched by Coinbase Inc., announced a partnership to allow users to stake their ADA tokens. Along with staking, the partnership also allows assets to remain safely locked in a cold storage wallet.

In the announcement emailed to us on Friday, the staking-custody service offered by Coinbase, a first of its kind, will be rolled out in the latter stages of the year when the staking service on Cardano blockchain goes live.

This service will ensure that users of ADA on Coinbase will be able to reap the rewards on Cardano’s proof-of-stake (PoS) network while keeping the digital assets secure in the cold wallet storage facilities. The statement reads:

“Agreements like these are essential to driving widespread adoption of cryptocurrencies, as they allow institutional and large investors to safely and securely manage their funds while also keeping in line with regulatory requirements.”

This is also expected to sway the regulators’ view on the use of cryptocurrencies without the worry of a security breach, which previously provided a barrier to digital assets being widely adopted.

Speaking on the partnership with IOHK, Sam McIngvale, Head of Product, Coinbase Custody, said the exchange tested the Cardano staking testnet protocol with over a thousand stake pools sampled. Sam concluded,

“We are pleased to have been selected as the custodian, and we’re proud to be a full-service, regulated, comprehensively-insured, and 100% offline staking provider in crypto.”

Cardano’s founder and CEO at IOHK, Charles Hoskinson, was equally pleased with the partnership stating the aim is to include the unbanked population and provide a gateway to financial investments to people who have previously were neglected. On the custody- staking services, Hoskinson said:

“This custody agreement allows us to offer the same secure storage solutions that can be found in traditional finance to ADA holders, without sacrificing what makes Proof of Stake blockchains special – being able to participate in the network.”

Cardano’s native token, ADA, is on a sustained rise since the announcement of the launch of the Shelley-era in the coming weeks. IOHK has already deployed the Shelley node on the Cardano mainnet, signaling everything is ready for the hard fork.

The token currently places seventh on Coinmarketcap charts with a total market capitalization of $2.6 billion after an 8 percent surge in price the past 24 hours.

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Author: Lujan Odera

Litecoin Mimblewimble Testnet on Track to September Launch

While sharing the June progress, Grin developer David Burkett who is working on Mimblewimble implementation to the Litecoin network, said the testnet launch is coming by the end of Q3, which is in September 2020.

In June, Burkett wrote very minimal implementation supporting MW transactions as the existing LTC mempool logic ended up being quite a bit more complex than the developer initially thought. As such, it will be revisited after the testnet launch.

Additionally, code was written to support mining extension blocks; however, they need a lot more testing, and a few “edge cases are still left to be handled.”

Talking about his concerns on the way they were storing mimblewimble block data in a separate database, Burkett shared with the community that “It was originally designed this way to be a clean separation from the existing code, to facilitate merging future bitcoin commits.”

Separated databases, however, are a “bad idea,” he said, because then they don’t have the ability to make atomic updates. This leads to problems, some that can be exploitable by remote attackers.

As such, Burkett has decided to take more time to modify the code for serializing and deserializing MW blocks & transactions to disk. But he didn’t need to make any changes to the existing block storage format thanks to the groundwork laid down as part of the Segwit enhancement. He said,

“As a result, upgraded nodes can successfully save extension block data to disk the same place they’ve always saved blocks, without having to introduce an additional database.”

However, the side effect of the changes is that it was relatively straightforward to add support for sharing mimblewimble transactions over the p2p network — the first step toward July’s goal of handling MW data.

Still, the big plan for the summer remains the same, and Initial Block Download will be happening in July, followed by Chain reorg logic in August. This means activation logic and testnet launch is coming in September.

With the MW upgrade, the idea was to enhance the scalability and privacy of the Litecoin network, much better than the likes of Zcash and Monero, said Litecoin realtor Charlie Lee, in an interview last month.

“It does privacy and scarcity very well compared to other implementations,” he had said at that time.

The development part is making good progress, and Litecoin has also been recording an increase in wallets.

But this 7th largest cryptocurrency by market cap is not doing well price-wise.

Currently trading at $41.42, the digital asset is down 2.57% YTD, the third biggest loser among the top twenty cryptocurrencies. LTC is also down 89% from its all-time high of $373.

According to analyst Mati Greenspan, “the slow and dangerous decline resembles a slippery slope.”

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Author: AnTy

ConsenSys Codefi Staking Service Launches Institutional Testing Ahead of Ethereum 2.0 Launch

Binance and Huobi exchange are part of a six-institution team selected by leading Ethereum developer, ConsenSys, to test the upcoming ETH 2.0 staking service. The testing period will allow the developers to find the best iterations to enable the institutions to successfully conduct staking on Ethereum’s upcoming upgrade.

ConsenSys launches testing for Codefi Staking

ConsenSys backed, Codefi Staking project announced the release of its first ETH 2.0 staking-as-a-service platform to six institutions including Binance, Crypto.com, Huobi Wallet, Trustology, MaxiPort, and DARMA Capital. This is the first release of its kind with the platforms expected to return feedback on several components during the testing phase.

ConsenSys developers, led by enterprise-focused, PegaSys, built the Codefi Staking platform coding in Java programming language using Teku.

Speaking on the launch of the test phase, Tim Lowe, the project manager of the Codefi staking platform, expects feedback on users’ responses on the payments of rewards on the amount staked in ETH or fiat fee, custodial services’ security protocols once the ETH 2.0 proof-of-stake (PoS) launches, and finally the ease of API integration on the platform.

‘Enterprise focused platform’

The Codefi Staking platform is focused on providing a powerful ETH 2.0 staking platform to blockchain-based enterprises such as exchanges, custodial services, hedge funds, etc. Lowe believes ETH 2.0 holds a lot of potential, given the current demand for such services. Lowe said,

“I think anybody who is holding any crypto assets and is aware of Ethereum generally is starting to look at Eth 2.0 and staking. It’s still early but the interest is there across the board.”

The pricing is yet to be set for the institutions waiting to use the platform as a SaaS, Time Lowe said. However, the price will not be their selling point, Lowe explained;

“From a staking point of view, we are not going to be the cheapest, but we’re also not going to be the most expensive.”

Is Custodial staking good for users?

Codefi’s platform focuses on exchanges and custodians but some sections of the community believe better options are available. Binance currently offers staking services for a number of PoS coins including Tezos, Algorand, and Cosmos without the need to own a whole node.

The Codefi staking service is only focused on Ethereum staking, Changpeng “CZ” Zhao, Binance founder said. He hopes to replicate the user-friendly features on its staking such as “low fee staking or minimum staking amounts” into Ethereum staking. Speaking on Codefi’s test phase CZ said,

“Users deserve the rewards that their coins can earn them. With the eventual launch of Ethereum 2.0, we are excited to support staking for all of our ETH holders on Binance.”

Exchanges and custodians offer users a direct gateway into staking while allowing the use of assets to trade and transact without affecting the staking rewards.

Mirko Schmiedl, founder and CEO of Staking Rewards, however, holds a negative view on leaving the exchanges to fully control your staking. In addition to not having control over the governance decisions, “it’s not possible to store a staked asset on Binance and then use it as collateral in BlockFi or Maker to take out a loan,” Mirko said.

This increases the centralization of power over certain blockchains to exchanges beating the purpose of PoS governance systems.

‘Codefi staking rewards to come in two years’

Codefi Staking will be integrated into Ethereum’s “intermediate phase” allowing users to earn staking rewards before the official launch of ETH 2.0.

As the Eth 2.0 is in preparation to launch, an intermediate phase (“ETH 1.5”) will be adopted to ease the transition from the Ethereum 1.x version as the PoS system cannot be directly compatible with the old proof of work system. This phase of moving from ETH 1.x to ETH 2.0 will take approximately two years.

The rewards gained during the intermediate phase will be accessible to the users only upon the launch of the Ethereum PoS network.

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Author: Lujan Odera

Northern Data Teams Up With Canaan Creative For Blockchain And AI Development

The globe’s second biggest Bitcoin mining equipment developer, Canaan Creative is joining forces with Norther Data AG, a blockchain infrastructure company, to combine their synergies in various fields related to the blockchain and crypto industry.

According to a press statement released on Feb. 19, the two dominant players within the world blockchain industry, announced that they had formally entered into a partnership to bring their technological as well as operational prowess together for different projects in the industry.

Some of the key areas where the two firms will cooperate are in regards to artificial intelligence, development of blockchain based solutions and also large scale optimization of data center operations.

Northern Data has been steadfast in developing infrastructure used in high-performance infrastructure which can be applied even beyond blockchain technologies. The firm was formed after the merger of Northern Bitcoin AG, a blockchain infrastructure company based in Germany, and Whinstone US Inc, a data center operator based in the US. As per NG Zhang, Canaan Creative’s CEO,

“Our R&D team is collaborating with Northern Data. Both sides have achieved positive results. In addition, Northern Data will provide computational resources support for our overseas R&D in the U.S. Canaan looks forward to further cooperation in product development, AI, and high-performance computing.”

According to Cointelegraph, Canaan deals with the provision of AI chips as well as high-end mining hardware comprising of ASICs. The firm claims that it has produced more than 150 ASICs dating back in 2017 up to September last year. The firm was recently registered on NASDAQ making it a public trading company. This is a crucial milestone for the firm as it became the inaugural Chinese-based AI chips developer to fruitfully float an IPO in the United States.

According to the press statement, Northern Data AG praised the new deal and stated that it looks forward to ink such deals with various blockchain as well as AI developers in the near future. The current deal with Canaan comes just a few months after Northern Data AG partnered with SBI Crypto from Japan.

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Author: Joseph Kibe