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📰 News Alex Morris

Cannabis Industry Now Relies on Blockchain to Increase Its Supply Chain Efficiency

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A 24-year-old US cannabis company comes up with a Blockchain-powered app for tracking marijuana plants
Cannabis Industry Now Relies on Blockchain to Increase Its Supply Chain Efficiency
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According to Vermont’s local media outlet Seven Days, two of the state residents have come up with a Blockchain app for tracking marijuana plants. This becomes just yet another occasion when the two evolving industries are merging together.  

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A Blockchain-powered pot app    

Blockchain has already proved its potential when it comes to proving wine authenticity and eliminating large-scale recalls in the wakes of the salmonella epidemics. All these technologies work in a similar way — they track the product from its very inception to the supermarket. The pot app that is designed by Joshua Decatur and Paul Lintilhac is not an exception, but this time they put cannabis plants on a distributed ledger.

The modus operandi of this app doesn’t raise any difficulties — the grower records all the relevant information on a Blockchain, such as conditions, harvest dates, etc. After that, when marihuana makes it to a dispensary, a consumer will be able to check all the details and compare them with those on the packaging.

Piggybacking one another      

According to Decatur, Blockchain enhances the safety and transparency of data storing. Vermont, just like its neighboring state of Wisconsin, is considered to be an early adopter of the disruptive technology by coming up with a regulatory framework for Blockchain-oriented businesses in the state. Wisconsin also strives to capitalize on Blockchain and cryptocurrency — the state has recently vowed to establish a separate crypto bank. This embracement of cryptocurrencies coincided with the legalization of cannabis stocks that took place on July 1.

Decatur, who spearheads a 24-year-old cannabis company, claims that utilizing a Blockchain-powered app could help them to make the cannabis supply chain more efficient and even help them with cannabis regulations. Consumers can be confident about the quality of cannabis while growers who are responsible for producing such products will be rewarded.

Are cannabis and crypto on the same page?

As U.Today reported earlier, cannabis and crypto are in the same boat due to their nascence, volatility, and regulatory uncertainty. With a knee-jerk reaction, different media outlets dubbed cannabis ‘the new crypto’ after Tilray Inc. shares nearly doubled. SEC attorney Owen drew a comparison between the two industries, also pointing to rampant price manipulations.

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New Zealand-Based Cryptopia Exchange Suffers Hacker Attack, Exit Scam Suspected

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The Cryptopia exchange located in New Zealand shuts down its Internet presence while it deals with the consequences of a major hack
New Zealand-Based Cryptopia Exchange Suffers Hacker Attack, Exit Scam Suspected
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On the morning of Tuesday, Jan. 15, the exchange tweeted that someone had broken its security systems, causing extensive losses.

Cryptopia has not provided any details as to how many and what assets exactly have been stolen by the evil-makers or whether it plans on reimbursing the platform’s users.

Cryptopia goes offline

The website of the exchange, as well as the technical support page and its blog, is not accessible presently. All the website shows is a notice: “Cryptopia is currently in unscheduled maintenance mode. We will be back soon.”

New Zealand Exchange Gets Hacked, Around 13,000 ETH Lost

An exit scam?

However, Whale Alert tweets that on Sunday, January 13, Etherscan recorded a transaction from Cryptopia’s hot wallets. Nearly 13,400 ETH coins were moved out (around $2.44 mln), as well as around 48 mln CENNZ tokens (around $1.18 mln). The community is pondering whether this was the hacker or the exchange itself, conducting an exit scam.

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Tron’s Market Cap Value Spikes 40 Percent in 2019, TRX Aims to Beat Telegram’s TON
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New Zealand Exchange Gets Hacked, Around 13,000 ETH Lost

The right people have been notified

The exchange also tweeted that all appropriate authorities have been notified, as well as the police of New Zealand. Apparently, now there is a massive investigation underway where the local police and the High-Tech Crimes Unit are collaborating.

Cryptopia encourages its customers to stay positive regarding the event by posting the following announcement:

“Until this has been carried out, The Cryptopia Exchange will remain in maintenance mode, with trading suspended. We are committed to getting this resolved as quickly as possible and will keep you all updated every step of the way.”

Ethereum’s Constantinople

Less than a week ago, Cryptopia got in the line of the exchanges that support the upcoming Constantinople hard fork of Ethereum — the line includes HitBTC and nearly 20 other exchanges, as U.Today reported earlier.

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Ethereum Сore Developer Calls Constantinople Least Eventful Hard Fork Ever

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Experts predict that the reduction of mining rewards will actually benefit the network, but it also could be a bad omen
Ethereum Сore Developer Calls Constantinople Least Eventful Hard Fork Ever
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Ethereum’s upcoming hard fork, which is dubbed ‘Constantinople’, will not be as painful as November’s Bitcoin Cash debacle given that there is no split inside the community. Lane Rettig, one of Ethereum’s core developers, even calls it the least contentious hard fork ever, but that’s not necessarily a bad thing for ETH holders, Bloomberg reports.  

Is Constantinople that boring?

The word combination ‘hard fork’ is associated with a schism inside a certain community that subsequently results in the appearance of several versions. The Bitcoin Cash hard fork, as some pundits claim, was behind the most recent market crash – BCH lost nearly half of its market cap during a brutal bloodbath, while Bitcoin reached its new yearly low of $3,100. With Ethereum, it’s (hopefully) not going to happen, and Rettig calls it the least contentious one out of all hard forks the project has undergone up to this day.

Ethereum hard fork

A double-edged sword

Constantinople is set to reduce current miner rewards from three to two coins per each block, which can potentially decrease the level of inflation and volatility. Michael Moro of Genesis Global Trading explains that a selling spree initiated by miners will have less impact on the ETH price.

However, there are also caveats – some experts believe that the rollout of the Constantinople hard fork could jeopardize the network’s security given that fewer miners would be willing to support it. Case in point: Ethereum’s offshoot Ethereum Classic (ETC) and its recent 51 percent attack, which led to Coinbase freezing ETC trading.

Miners will be useless anyway

Rettig further states that the software that completely excludes any support form miners has been in the process of development for years. Soon, it will be combined with the current network that is run with the help of miners, and it’s only a matter of time until mining rewards plunge to zero. At the same time, some miners remained disgruntled since the Constantinople upgrade won’t make Ethereum ASIC-resistant, which was one of their top requests.

Despite the controversy (or its absence), major exchanges in the likes of Binance have already announced that they will support Constantinople.

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Bitfinex Presents Trading for New Token. What’s Behind This Listing?

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After CoinBene, the controversial exchange has also embraced RIF tokens that power the whole ecosystem
Bitfinex Presents Trading for New Token. What’s Behind This Listing?
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Bitfinex, the 21st biggest exchange by trading volume, has just made an announcement about listing RSK Infrastructure Framework token (RIF). Starting from Jan. 15, there will be two trading pairs that feature the RIF token – RIF/BTC and RIF/USD.  

One token for everything  

RIF is a Turing-complete smart contract platform that is similar to Ethereum. Its utility token (RIF) provides users with the possibility to gain access to all services that are compatible with the project’s architecture. The RIF token will serve as a universal currently for different service providers, thus avoiding ambiguity in pricing.

RSK (RBTC)

Back in November, the exchange also listed the so-called gas token RSK (RBTC). RBTC is fully backed by BTC, and it can be converted to BTC through a 2-way peg (2WP).

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At the heart of the crypto revolution

Rootstock, which was launched in December 2015, has mining giants in the likes of Bitmain and Bitfury among its biggest investors. The RSK smart contract platform merged with RIF Labs. Such a step was necessary for streamlining the integration of RIF OS into the whole RSK ecosystem, which subsequently sets the ground for smart contract interoperability.

Notably, RSK is based in Argentina, the epicenter of cryptocurrency growth. The startup’s CEO, Diego Gutierrez-Zaldivar, is certain that RSK can develop applications that will increase the level of economic inclusion in poverty-stricken Latin American countries.

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Tron’s Market Cap Value Spikes 40 Percent in 2019, TRX Aims to Beat Telegram’s TON

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Tron has been most active over the last few months, having demonstrated aggressive progress and a market value increase
Tron’s Market Cap Value Spikes 40 Percent in 2019, TRX Aims to Beat Telegram’s TON
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Since its triumphal rise in December 2017, the crypto market heavily dropped throughout all of 2018. All digital assets then showed a tremendous collapse. However, Tron (TRX) managed to make a great technical advance, as well as strike numerous new partnerships. All of this helped TRX increase its market cap on an impressive scale.

Tron’s progress

At the time of writing this, TRX is trading at $0.0252. Compared to Bitcoin, it’s not so great. Still, as early as just four weeks ago, the coin was going at half of its current price on exchanges.

Over a month ago, Tron was the holder of the #11 position by its market cap value. Then it gradually moved to spot #10. After that, outperforming the hard-fork-born Bitcoin Cash SV, it got to position 9. Having briefly replaced Tether in place #8, it now occupies place #9 again.

Only two weeks of the new year have passed, however, Tron’s market cap has spiked 40 percent already.

Compared to EOS and Ethereum, Tron hosts a lot fewer dApps. Still, despite this fact and a fewer number of use cases, Tron seems to have potential for growing much faster than any other crypto in current market conditions.

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TRX price forecasts

Currently, Tron is welcoming dApp developers from other platforms, especially from EOS and Ethereum, and ensuring they get excellent financial conditions. Several famous dApp games have already migrated to Tron, one of them being TronGoo (formerly, EthGoo), which came from Ethereum.

Developers along with their dApps keep jumping under Tron’s wing, since EOS and Ethereum now seem slow, expensive to use and sometimes even problematic for exploitation. Every new decentralized app that joins the Tron network or the Tron Arcade gaming fund will, experts believe, push the coin’s price upwards.

Atlas project and BTT coin

Launched in the second half of 2018, the Atlas project intends to combine the BitTorrent network, which Tron also bought in 2018, as reported by U.Today earlier, and Tron’s blockchain. The users will be rewarded with the BitTorrent (BTT) coin, powered by Tron.

The idea is that Tron will integrate the hundred million BitTorrent users into its network, expanding the Tron-based economy.

In this plan, Tron seems to also compete (perhaps unaware of that) with the Telegram messaging app that conducted a closed ICO in 2018, intending to create the TON (Telegram Open Network) with its own coin, Gram, for hundred millions of users around the world.

Presently, Tron is growing where other crypto projects are staggering. As U.Today reported earlier, one of the goals Justin Sun has set for 2019 is to widely expand the Tron community and enter the top-four line of coins by market cap. Experts believe that there are good chances of achieving this.

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Huobi Takes On Board Chief Compliance Officer from Major US Bank

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Huobi, of the top-five largest crypto exchanges in the world, hires a top-manager from State Street bank
Huobi Takes On Board Chief Compliance Officer from Major US Bank
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Huobi reps have revealed that the exchange has taken onto its payroll Elaine Sun Ye Lin, who had previously headed the compliance department of the State Street bank branch in China. This is yet another case of top bank workers migrating to the cryptocurrency sphere.

Huobi gets a valuable employee

Elaine Sun joined Huobi in December, and now she is in charge of the global compliance activities of the platform.

Huobi believes that in the current conditions when global regulators are taking a closer look at companies in the crypto sphere all over the world, Sun’s experience and skills will be valuable for negotiating with various government organizations in the countries where Huobi has its offices. This fact was confirmed by the Huobi Group HR director, Fu Liting.

Elaine Sun has extensive experience in working for State Street bank, six years, and before that she had been part of the Singaporean OCBC bank team.

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Talents are flowing into crypto

The head of recruiting agency CryptoRecruit, which was the intermediary when Huobi hired Sun, shared in an interview that now there are more and more pros from the financial sphere rushing to join the crypto industry. As per him, this is happening despite the ‘crypto winter’ and has turned into a strong trend.

The CEO, Neil Dundon, says that when his agency makes bank employees job offers in the crypto area, more and more of them gladly agree. He believes that this is a positive indicator for the crypto industry – to see professionals from banks move into the emerging industry.

Indeed, at the end of 2018, several former executives from Wall Street firms and banks went to work at the Coinbase platform and other young crypto-oriented firms.

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