CertiK Crypto Security Project Set to Launch Beta for Smart Contracts Certik Chain

The organization developing blockchain security infrastructure CertiK Foundation is preparing to launch its beta CertiK Chain.

CertiK Foundation wants to launch next week the Testnet 3.0 for CertiK Chain, which will make it possible for smart contracts to check the other contracts’ security audits before making a transaction. The CertiK Virtual Machine (CVM) is fully compatible with Ethereum’s EVM. EVM allows the seamless running of Solidity smart contracts. Developed on the Cosmos Network, CertiK Chain will have Solidity Smart contracts running in the Cosmos Network.

Scaling and Block Validation Handled More Efficiently

With the initiative of releasing the open beta to the public, CertiK wants to make block validation and scaling more efficient. Certik Chain is going to be compatible with many applications, including the ones for staking and decentralized finance. The company also said a user can look for on-chain evidence on security audit before sending cryptocurrency to be locked in any staking contract. According to the results, the user can choose to send smaller batches of cryptocurrency. This is what CertiK had to say:

“Ultimately, if blockchain becomes as disruptive as people expect, with smart contracts (such as DAOs) interacting with other smart contracts, then the ability to verify security on-chain would help prevent malicious interactions. Other features of the CertiK Chain includes a sandboxing of smart contracts so that they can deploy in a simulated environment for dynamic testing, which would be useful for both deploying new contracts and implementing upgrades of existing contracts.”

More Security Features to be Released

In the releases following the launch, CertiK wants to include other security features meant to prevent a malicious interaction with the blockchain. Certik Chain is going to operate on the certified CertiKOS hypervisor and kernel, enabling the CVM to run any smart contract that has been developed in the DeepSEA programming language.

Native CertiK Chain Launched Earlier in Julu

The CertiK Foundation has launched the native CertiK Chain earlier this year, in late July, after Binance Labs made an investment in 2018. During that time, the organization said smart contracts can be developed with the same DeepSEA programming language because it is the most secure when it comes to the code. Ethereum Foundation has funded DeepSEA in March this year, not to mention Qtum also provided $400,000 in funds for it in December last year.

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Author: Oana Ularu

XRP Army Fired Up About Ripple’s Possible Involvement with SWIFT Alternative for Russia, China and India

  • Russia, India, and China are developing a payment system as an alternative for SWIFT, connecting primarily with Russia’s payment system.
  • A meeting in 2017 is leading Ripple supporters to believe that XRP will be their chosen token.

XRP, the native token of Ripple, has found itself in many places, considering the widespread network of its creator. With low fees and fast transaction times, it manages to remain in the top cryptocurrencies in the world, and that’s just the kind of flexibility that consumers enjoy. It has been used by numerous financial institutions, but it could be big enough to be a part of a new alternative to SWIFT.

SWIFT is the payment system shared throughout the world, but China, Russia, and India have decided to choose a different path. Avoiding the use of this payment system, the trio is working on their own network for fast payments, and there are some members of the Ripple community that hope to find XRP involved.

The reports from Russia today states that the SPFS system of payments will be connecting with the CIPS system, which is based in China. SPFS was originally in development in 2014 in response to the suggestion that the US could cut off the country from accessing SWIFT.

There has yet to be a new project launched in India, but reports indicate that there are local engineers that are working on one. In the meantime, India has expressed that they’ll be connecting with the Russian system as well.

With talks of the recent blockchain innovations in China, due to remarks by President Xi Jinping, some people in the XRP community believe that XRP will be the coin chosen to create necessary liquidity in the new system.

The hopes expressed by the users appear to be due to a meeting that occurred back in 2017, which involved Chinese central bank representatives and Ripple.

China’s Central Bank, PBOC, has been working on a centralized digital currency recently, which is has been referred to as “China Coin.” Huang Qifan, the executive vice president of the China International Economic Exchange Centre, made a statement yesterday that the coin is actually being called DCEP, which is an abbreviation for “digital currency electronic payment.”

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Author: Krystle M

BoE Deputy Governor: Central Bank Digital Currencies Are “Worth Looking At”

According to Bank of England deputy governor Dave Ramsden, developing a synthetic central bank digital currency is “worth looking at.”

Ramsden who oversees payments and fintech said currently, the UK central bank is “very focused” on what needs to be done to provide infrastructure to encourage private innovation.

Now, creating a digital currency with other central banks is “worth looking at because there is a big issue with the cost and efficiency of payments” across borders.

This idea was also raised by BoE governor Mark Carney, who back in August during a speech in Jackson Hole, Wyoming talked about replacing the dollar as a reserve currency with a stablecoin like Facebook’s Libra.

On Tuesday in London, the BOE chief said currency offerings to business and consumers are “not good enough in this day and age.”

“We should always be challenging ourselves on whether we do more, because the consumer demand, both in advanced economies and in developing economies, is for greater efficiency,” Ramsden told Bloomberg. “There’s a big prize here.”

This week, European Central bank member Benoit Coeure said the regulators have to be prepared for revolution in digital currency space and central banks must adapt. Earlier this month he said Libra was a “wake-up call” for central banks while Germany’s Finance Minister, Olaf Scholz, said:

“We encourage European central banks to accelerate work on issues around possible public digital currency solutions.”

Meanwhile, some of the G20 central banks are experimenting with central bank digital currency (CBDCs). China is one of the prime examples that are “almost ready” with its sovereign digital currency.

The US is not considering issuing a CBDC right now but “following very carefully.” Japan and South Korea are other countries without a plan to issue a central bank digital currency. Russia has repeatedly indicated its plans to issue a CBDC, but not in the immediate future. India, on the other hand, is working on a draft bill for the same.

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Author: AnTy

Pro-Crypto SEC Commissioner Urges Regulators to Take a “Forward-Leaning” View on Crypto Matters

Pro-Crypto SEC Commissioner Urges Regulators to Take a “Forward-Leaning” View on Crypto Matters

With the crypto market gradually developing, one might have wondered why President Donald Trump has been keeping his opinions concealed regarding said matters.

Not too long ago, the president along with Treasury Secretary, Steven Mnuchin both shared their distaste for digital assets, where the latter stressed the actuality of “very, very strong” regulations.

As a result, US Securities and Exchange Commission (SEC)’s commissioner, Hester M. Peirce, shared her viewpoint, which as reported by News BTC, seems to be filled with concern with respect to the possible setback it creates for the powerful country. Peirce was referenced saying that her greatest concern for U.S. is that the country,

“will fall behind other countries in attracting crypto-related businesses unless we are more forward-leaning in establishing a regulatory regime with discernible parameters.”

Given the large number of regulators, how things will turn out for cryptocurrencies remains a mystery, as Peirce notes this as being the peculiarity of the American system.

Interestingly, Ripple’s Brad Garlinghouse seems to have tweeted in regard to this matter as well, as he highlighted the fact that “not all crypto is the same.”

This appears to have been addressed in a letter to the U.S Congress to look closely at each project on a case-by-case manner, rather than generalizing the entirety of the market. Here’s an extract from the letter:

“In our view, digital currencies have the opportunity to complement existing currencies like the U.S dollar – not replace them. Without a doubt, blockchain and digital currencies will engender greater financial inclusion and economic growth not unlike the internet’s historic impact […] We urge you to support regulation that does not disadvantage U.S companies using these technologies to innovate responsibly, and classified currencies in a way that recognizes fundamental differences.”

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Nirmala Velupillai

“Hard Core Fund” Collects 50 BTC In Order To Support Bitcoin Core Developers

“Hard Core Fund” Collects 50 BTC In Order To Support Bitcoin Core Developers

One of the main problems of developing for cryptocurrency ecosystems is funding. When the projects are not necessarily for profit and are decentralized, how do you fund them? This was also the question that was on Dovey Wan’s head.

Wan is a venture capitalist from Primitive Ventures and she considers this to be one of the main challenges of 2019 for crypto devs. Now, in order to bridge this gap and solve the problems, she has decided to gather 50 BTC (around $450,000 USD) in order to help them.

The fund will be managed by Hard Core Fund, a new initiative that was originally created by Wan and Pan Zhibiao, a former Bitmain employee. The idea is to support BTC Core developers such as Luke Dashjr and Ben Woosley, for instance.

Anyone can donate to the fund and the developers can send an email in order to outline their work and receive some sum of money for their effort in developing the technology.

According to Wan’s recent interview with Coindesk, she has collected 50 BTC for the fund so far. The fund would obviously need more money in order to fund more full-time Bitcoin developers, which is the objective. At the moment, less than full-time 10 developers are being a part of the project.

She also affirmed that, in the future, she expects more companies to be supportive of developers. Several companies such as Chaincode Labs, Blockstream and Square already do it and she affirmed that companies such as Microsoft are possibly going to become the next ones.

This fund, however, is mostly an independent initiative in order to fund these people. She affirmed that having a diverse funding model is very important because people will still be able to continue their work even if they lose one of their incomes.

The main idea is that the fund has no say on what the developers are going to create, which is important in order to maintain the decentralization of their work.

In order to be eligible for the fund’s money, you need to show your contributions to the network and they will be judged on the merits of whether you are constantly working to improve it or not. All information for submissions can be sent to Wan via GitHub or to the email of Primitive Ventures.

She affirmed that the company is currently looking for experts that have a deep understanding of the technology or that can be trained and coached by Wan.

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Author: Gabriel Machado

Block.one EOS Social Network ‘Voice’ Endures Costs of $150 Million, Required Over a Year to Complete

Block.one EOS Social Network 'Voice' Endures Costs of $150 Million, Required Over a Year to Complete
  • Block.one spent $150 million in developing the recently released Voice social media network
  • They have also been working one year on it
    Block.one has recently announced a new social network called Voice.

Only Real Users, Not Bots Can Open Accounts on Voice

Mr. Blumer explained that they spent a year working on this social media platform that is called Voice. The product was announced, however, on June 1, 2019. At the moment, there is an available beta for users to sign in and test the network.

Block.one is also the company behind the EOS blockchain and project. As he explained, only real individuals are going to be using the platform rather than bots. In order to do so, users will have to provide information about themselves, including IDs.

Blumer explained that they need to understand with who they are operating and they are taking all the necessary measures for his to happen.

Meanwhile, Dan Larimer, the CTO of Block.one, explained that the coin has the fairest distribution model in the world. The platform is going to be working in a different way than others and it will have a different set of content sharing rules.

Larimer said about the coin:

“The Voice token is not created by buying it or burning electricity. It can only be created by being a real person, producing real content, liked by real people. When you participate, you earn.”

Not The First Blockchain-based Social Media Network

Larimer has also worked in the past on Steemit as the CTO. This is also a blockchain-based social media network that rewards publishers for their posts.

There are also other social media networks working with blockchain technology and virtual currencies. Kik Interactive Inc., for example, decided to launch a digital currency to reward users on its platform. However, the U.S. Securities and Exchange Commission said that the company did not create any real use case for the virtual currency called KIN.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Carl T