🕵️‍ ICO Watch Eric Eissler

Past-ICO Review: 0-Cost Enterprise Blockchain Solution

👁 ICO Watch
0Chain wants to be the zero-cost enterprise Blockchain that can sell larger than Ethereum
Past-ICO Review: 0-Cost Enterprise Blockchain Solution

0Chain wants to build a Blockchain solution that enables decentralized cloud storage, fast settlement/finality, and the notion of self-forking, all wrapped in a DPOS consensus model.

The main interest here is in IoT and decentralized apps that can benefit from running in the cloud, using their costless distributed file storage methodology in a wholly integrated platform. Right now, current solutions require using a number of different solutions and building the complex middleware to make sure all of these discrete systems can talk to each other. 0Chain is attempting to cut the middleware out and simplify the process.

Financials

0Chain had a 10-day ICO from Feb. 7 to Feb. 17, 2018, and raised some $39 mln during that time. One ZCN was valued at $1.40 during the ICO sale. Following the token value trajectory, we can some strange things. First of all, the token was not released for public trading until July 2, almost five months after the token sale had ended. During this time, the token lost 65 percent of its value while it was hanging out of public reach when it publicly debuted at $0.49. Progressing further down the relatively short public trading timeline, ZCN has fallen down to $0.12 in a very short three-month trading period.

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Team

SASWATA BASU- Founder & CEO

With a PhD in electrical engineering and an entrepreneurial spirit, Basu has worked at and managed many companies in the tech sector before founding 0Chain. He appears to have the right mix of business, tech, and engineering to launch a startup.

THOMAS AUSTIN - Co-Founder

Currently, a professor at San Jose State, Austin’s areas of expertise are programming language security and malware analysis. Additionally, he has been studying cryptocurrencies and ways to make them more efficient. Hence, his willingness to co-found 0Chain

SIVA DIRISALA- CTO & VP of Engineering

With more than 15 years of working business enterprise software, Dirisala has the technical knowledge and experience to head up a team of developers to create an enterprise Blockchain solution.

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Tech and Testnet Launch

Decentralized storage via Blockchain, as an innovation, requires significant feature development to be considered enterprise ready. According to the company’s website,

0chain’s engineers have developed customizable algorithms for data to be stored and retrieved with the high availability enterprises are accustomed to. Leveraging our “Erasure Coding” protocol, there is a 40 percent reduction in space required to replicate data compared to current cloud-based storage solutions. The decentralized nature of the Blockchain delivers CDN-like performance based on the multiple parallel paths for data to traverse and minimizing the impact of network bottlenecks. All data stored via dStorage is consistently verified via the Blockchain.

At the start of August, 0Chain launched their testnet with strong results, according to a press release put out by the company: “Our first release has a throughput of about 150 transactions per second or about 10x that of Ethereum. The purpose of the initial release is to highlight the sub-second finality of our Blockchain, which is a requirement for enterprise applications and for our distributed storage protocol.” The company has worked very hard to stick to the ambitious roadmap that they laid out before them. Despite the tanked token price, it appears that the company is on the right track with something that could be a viable, tangible product.

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Alex Morris

Top Blockchain 3.0 Projects to Watch in 2019

Meet the best Blockchain platforms that are poised to reshape the omnipresent technology. Do these projects have any substance apart from their white papers?
Top Blockchain 3.0 Projects to Watch in 2019

What is Blockchain 3.0?

Blockchain might be the old wine in a new bottle, but the technology, as we know it today, appeared only in 2008 in Satoshi’s groundbreaking white paper. Bitcoin became the world’s first decentralized cryptocurrency that is powered by the now-ubiquitous Blockchain technology. In 2015, programmer Vitalik Buterin introduced a brand-new Ethereum Blockchain (Blockchain 2.0) that gave the world smart contracts and promised faster transactions. However, as these Blockchains were becoming more popular, the scalability trilemma came to a head with more than 140,000 transactions remaining unconfirmed during the peak of the cryptocurrency craze in December.  

Blockchain 1.0

Bitcoin, the flagship currency was created.  

Blockchain 2.0  

Ethereum, an upgraded version of Ethereum was introduced. Additional features include interoperability and scalability.      

Blockchain 3.0  

An armada of new projects based on the DAG technology that are poised to be an upgrade of Bitcoin and Ethereum.    

All the problems that were associated with the two original Blockchains prompted the appearance of the next-generation Blockchains. Of course, Bitcoin and Ethereum remain the top currencies on the market because they enjoy the first-mover competitive advantage, but there are many newcomers that threaten to disrupt this hegemony with their state-of-the-art technologies. They collectively represent a new step in the evolution of the decentralized technology dubbed Blockchain 3.0.    

However, keep in mind that the modus operandi of these new projects is different when compared to traditional Blockchains. Actually, these networks may not be called Blockchains at all. A directed acyclic graph (DAG), the third generation of Blockchains, doesn’t rely on miners to maintain blocks, and it strives to improve scalability and interoperability.     

What is Blockchain 3.0?

These are the common features of the two technologies:

  • decentralization;

  • distributed digital ledger;

  • token economy model.

However, Blockchain is linear while the DAG technology functions in the form of an ‘interlinear’ sequence (it looks like a braid). Such a technology makes it cheaper, more scalable and, to sum it up — better (at least in its white paper).

Cardano

Speaking of 3rd generation cryptocurrencies you should definitely watch in 2019, Cardano (ADA) is a top-of-mind option. In fact, Cardano is considered to be the world’s first new-generation cryptocurrency with the sole purpose of solving Ethereum’s scalability issues. Notably, the ambitious project is spearheaded by Charles Hoskinson, one of the original Ethereum creators who left the project due to the split on the vision. Hoskinson, who is the brains behind Cardano, is one of the reasons why the project is so respected and credible.

bitcoinmagazine.com
bitcoinmagazine.com

Not surprisingly, there is a big rivalry between Hoskinson and Vitalik Buterin, and back in August they sparred over the protocols of their respective projects (Ouroboros and Casper).

As of now, ADA remains one of the top 10 cryptocurrencies with a market cap of $1.1 bln. That stability is rather impressive, considering that Cardano has been around for just over a year (its mainnet was launched on Sept. 29, 2017). In only three months, Cardano was already valued at $10 bln (Charlee Lee, the creator of Litecoin, even did a tongue-in-cheek remark that it could end world hunger).         

So far, the project is in the early stage of development (about 70,000 transactions have been recorded during its first year since the mainnet launch, but it is rather exciting to see what comes next).

EOS

EOS places an emphasis on usability, using the delegated Proof-of-Stake (DPoS). That particular consensus algorithm strives to solve the main problems of Ethereum-based dApps (such as the transaction fees that are blown out of proportion and slow transactions). In this system, every wallet is able to vote for a representative. However, there are concerns that the EOS network is too centralized.    

Just like other Blockchain 3.0 projects, EOS is marketed as scalable (it can potentially process millions of transactions per second with the help of correct optimization). Top-notch flexibility is yet another salient feature of the EOS network — any failed app can be frozen by block producers until the bug is dealt with (hence, there is no need for a hard fork).    

steemit.com
steemit.com

Every three seconds a new block on the EOS network is being produced. The complete absence of forks is yet another peculiarity of the EOS Blockchain — there is no competition since miners are supposed to join forces in order to produce a block.

ICON

Icon (ICX) is a highly ambitious Blockchain 3.0 project that wants to connect different Blockchains to create one global ecosystem. It is powered by the so-called ‘Loop’ technology that allows achieving transactions much faster. Loopchain allows processing more transactions per second than previous generation Blockchains.

The list of big-name investors who embraced this project includes:

  • Pantera Capital;

  • Coinsilium;

  • Kenetic Capital.

It is presupposed that there are plenty of private Blockchains that are able to communicate with each other with the help of this ICON project. For insurance, different insurance companies can utilize numerous Blockchains, and there is a single technology that underpins them.  

numerous Blockchains

One notable advantage of ICON consists of its scalability — you are able to connect to traditional previous-generation Blockchains (Bitcoin and Ethereum), creating a full-fledged smart economy.

ICON functions with the help of the LFT consensus algorithm. This third-generation cryptocurrency is  expected to disrupt e-commerce, hospitals, universities and so on.

Zilliqa

Zilliqa strives to come up with a highly-throughput public Blockchain. The platform is powered by a brand-new programming language called Scilla that is supposed to rival Ethereum’s Solidity. This language addresses some security issues of Solidity (for instance, a bug in Parity's multi-sig wallet would result in $150 mln worth of Ether being locked in a wallet). With the help of the Scilla programming language, such ‘black swan’ programming events are simply not happening.

They want to tackle the current scalability issues faced by the Bitcoin and Ethereum Blockchains by increasing the amount of nodes. Basically, the bigger amount of nodes connected to the network results in a higher transaction speed.

CryptoFinance24.com
CryptoFinance24.com

Remarkably, it operates with the help of the Proof-of-Work (PoW) algorithm that is used in order to prevent a potential Sybil attack — everyone is required to do a PoW in order to join the Zilliqa network. Notably, the PoW algorithm is not used to provide consensus on the network. On top of that, not every miner will mine each block.

Aion

Aion is yet another project on the list of Blockchain platforms that solves the great scalability problem. In plain English, the network creates a bridge between two separate Blockchains, allowing them to cooperate with each other.    

The network supports both public and private Blockchains. While the Ethereum Blockchain keeps making waves around the globe with its smart contracts, there are numerous other Blockchains that offer a better level of scalability.   

 

cryptocurrencies.space
cryptocurrencies.space

Aion and ICON are both interoperability-focused platforms that strive to unite different Blockchains. Hence, it is important to make a comparison of these Blockchain platforms. First of all, ICON is a South Korean project while AION is headquartered in Canada, and that gives it an edge. Both projects can be successful in the long run, but ICON already has a working product and a multi-billion dollar tech behemoth behind its back. AION’s main advantage is the ability to create interoperable dApps and smart contracts on their platform (its success shouldn’t be underestimated).

The bottom line

It is clear that the Blockchain 3.0 revolution has already arrived, and there are new technologies that trump VISA and other popular financial services by the level of scalability, interoperability, and security. Still, these best Blockchain coins haven’t reached the level of adoption that is required for revealing their full potential. So far, the aforementioned revolution only exists within their white papers. In theory, such Blockchains could handle millions of daily users.   

There is a very high possibility that Blockchain in its current version will be something completely different in 15 years given how fast the technology is developing, and the different Blockchain platforms on the list could be only a stepping stone.

However, there is also an alternative opinion that the Tangle won’t replace traditional Blockchains since it is now capable of moving certain types of data. If there’s a hefty transaction involved (for instance, a $1.5 mln house), it would be logical to choose the hacker-proof Bitcoin Blockchain even if it would take hours to process the transaction. There will be a mutually symbiotic system where Blockchain and DAG coexist, but Blockchain is already ingrained in the minds of many, and it would be very difficult for DAG proponents to persuade them to ditch Blockchain.

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HitBTC Exchange Review. How Safe Is HitBTC Exchange?

In this review, U.Today takes a closer look at HitBTC to determine whether HitBTC is a safe option for you. We will review how safe HitBTC trading experience is.
HitBTC Exchange Review. How Safe Is HitBTC Exchange?

HitBTC is a cryptocurrency exchange that is considered to be one of the old-timers in the industry. The Hong Kong-based digital asset trading platform started operating in 2013. As of now, this widely popular C2C exchange HitBTC features more than 400 coins (that includes the top 10 cryptocurrencies on CoinMarketCap).

With that being said, it is crucially important to determine whether the eighth biggest exchange is safe since it has been subjected to a couple of controversies that are connected to its regulatory status, alleged corruption and unexpected account suspensions.

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HitBTC Features

To give a quick rundown of what to expect from the exchange, let’s briefly consider some of its main advantages:

  1. The ability to trade with any deposit, which gives an edge to inexperienced traders.

  2. A myriad of cryptocurrencies (from Bitcoin and major altcoins that are constantly on everyone’s lips to small coins from the bottom of the barrel).

  3. Minuscule fees (only 0.1 percent for ‘takers’)     

  4. The beginner-friendly interface coupled with many features that are specifically designed for inexperienced users who are only making baby steps in the world of crypto.

  5. Strict verification process. Users have to provide their personal information (there are three types of accounts).

HitBTC Features

Meanwhile, the exchange also has numerous disadvantages such as slow withdrawals, numerous issues with customer support and even security concerns (HitBTC suffered from a major hack back in 2016). Later, we will jump right into these many details.

HitBTC Signup

These are simple sign-up steps that unregistered users have to follow:

1) Go to the sign-up page in order to open a new registration form (they only require your email and password).


sign-up page
2) Once you’ve pressed the big red “Register” button, a confirmation letter will be automatically sent to your email address.

“Register” button

That’s it! As you can see, the registration process on this platform is conducted in a very smooth way with minimum efforts from the user. All it takes is to come up with a strong password and enter your email address. However, do not forget to enable additional traditional security features such as two-factor authentication (2FA).

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Darryn Pollock

If This is the Bottom For Bitcoin, What Will Its Bounce Back Look Like?

If Bitcoin has reached its bottom, what will the bounce back look like? Are we in for another rollercoaster ride to new heights?
If This is the Bottom For Bitcoin, What Will Its Bounce Back Look Like?

There is no doubt that Bitcoin has found itself stagnating in terms of price in and around the $6,000 to $7,000 mark. Many have called this a bear market and one that is holding the price down, with many predicting that its bottom has been found.

But, if the bottom has been found, and, as they say, the only way is up, what will Bitcoin’s bounce back up in terms of price and market look like? The cryptocurrency has only been around for less than a decade, so it is hard to predict its movements, but some are already seeing the future.

Vitalik Buterin does not believe that there will be any more 1,000 percent growth spurts in the future of Bitcoin and other cryptocurrencies. However, the likes of Mike Novogratz feel that $6,000 is a classic bottom and the institutionalized money will drive it further.

Is this the bottom?

In terms of finding the bottom, it is an important exercise for traders, as it suggests that there will be no further losses from there. Novogratz, a former hedge fund manager at Fortress Investment Group and Goldman Sachs Group partner, believes $6,000 is it.

“Bitcoin has held $6,000. Yes, it is off its highs, but it has established itself as a store of value,” Novogratz said. He explained as well that the drop from those heights came as Bitcoin experienced a “classic speculative global mania” in 2016-2017 but is now on the upswing because the market has hit “seller fatigue.”

But if this is the bottom, what does the upswing look like? Bitcoin gained much of its traction by breaking records and molds with its climb to $20,000, but is that likely to be seen again?

Banks will experience “FOMO,” on the crypto trend, Novogratz added. “I think institutions are moving towards investing. It’s shocking how much has happened.”

No more exponential growth

Buterin has said that even with this institutionalized money waiting to enter the market, it is unlikely that the world will see such massive growth again as the excitement about the new and unknown cryptocurrency is over.

“The Blockchain space is getting to the point where there’s a ceiling in sight. If you talk to the average educated person at this point, they probably have heard of Blockchain at least once. There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore,” Buterin said.

However, Ethereum co-founder Joseph Lubin has said he disagrees with Buterin and that there is still plenty of people and entities that will enter the crypto space and help prop it up.

Countries along with the biggest corporations around the globe are already utilizing this nascent technology, so it will have an enormous impact on how whole economic and political systems are built was Lubin’s point.

Look at the graphs

One thing that may give insight into how the cryptocurrency market will grow is its previous rallies and falls. There have been many times where Bitcoin has grown by a staggering amount only to correct again and slowly build up to be bigger and stronger.

This latest rally to $20,000 may just be a precursor of things to come and a similar spike, and fall, but a much higher price could be on the horizon. Or, as Buterin suggests, the ceiling has been reached and the growth will be steady, a bit like after the Dot Com bubble burst.

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🕵️‍ ICO Watch Eric Eissler

Past-ICO Review: Finney, the Blockchain Phone Ahead of its Time?

👁 ICO Watch
The Blockchain-powered phone is here, but is the world ready for it?
Past-ICO Review: Finney, the Blockchain Phone Ahead of its Time?

Sirin labs have used Finney as an ICO to raise some massive funding to run a project on Blockchain-powered devices such as smartphones and computers, citing that traditional operating systems are vulnerable to hacking and leave users exposed to risk.

Finney is the name of the smartphone that is currently in development, and in April 2018, it was announced that electronics manufacturer Foxconn will work with Sirin to produce the phone.

There is another Blockchain enabled phone called Solarin and ultra-secure Blockchain phone and Sirin labs have an all-in-one Blockchain computer.

For the purpose of this article, we will stick to Finney only.

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By the numbers

The Finney ICO raised some $158 mln during the massive buying fest that was in December 2017; Dec. 12-25 to be precise. The Sirin Labs’ token (SRN) debuted at $0.90 and subsequently plunged to $0.32 per token, a loss of 64 percent of value.

While the idea of a Blockchain-powered phone is novel, will there be mass adoption of the technology that fast?

The Finney phone is sold via Sirin Labs’ website for $999, which is rather expensive, but the newer iPhones are in a similar price range. However, its advanced big brother, Solarin, is selling for a whopping $13,200! That is not a typo: Thirteen-thousand two-hundred dollars.  

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Phone features

Finney, Solarin and the all-in-one computer will all be powered by IOTA’s Tangle technology. The following are features that will be found on the Blockchain-based phone.

Blockchain Features

  • Shield OS:

  • Secure P2P resource sharing

  • Built-in cold-storage crypto wallet

  • Distributed Ledger Consensus

Sirin Labs Cyber Protection suite

  • Behavioral-based Intrusion Prevention System (IPS)

  • Blockchain-based, full tampering proof

  • Physical security switch (for wallet protection)

  • Secured communications (VoIP, text, email)

  • Three-factor authentication: Biometric, Lock Pattern, Behavioral

Phone specs

  • 5.2-inch QHD Display

  • 256GB of internal memory storage

  • 8GB RAM

  • Wi-Fi 802.11ac

  • BT 5.0

  • 16MP Main camera

  • 12MP Wide-Angle selfie camera

Furthermore, Sirin Labs plans to deliver a “decentralized app store run by the community” where “cost-bearing apps are based on a secure P2P resource-sharing system, which distributes fees between users and developers.”

However, which community are they talking about? This leaves a lot of questions to be answered.

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Lofty sales goals

While the media has been relatively quiet about the Finny phone, it was announced in April that the Switzerland-based company said that it’s already received more than 25,000 pre-orders, and hopes to sell between 100,000 and a few million units in 2018.

Further down the line, the plan is to license its tech to other hardware brands; Sirin is said to have been in talks with Huawei about that. Foxconn is the manufacturer of Apple’s iPhone and Sirin Labs had stated that the phones should be shipping out in October of this year, putting them well within striking distance of hitting the goal of selling almost a few million units.  

The Blockchain phone ahead of its time?

While it is hard to say whether the world is ready for a Blockchain-based phone, many people think Blockchain is only Bitcoin, it does have some unique uses.

Should the company be able to achieve their goal of selling more than one mln units, then there could be some support for the phone and the continued manufacture of it. But if Sirin Labs does not sell their intended number of phones to reach their goal, then the phone was ahead of its time and the market was not there.

This will be a continuing story as we await the release of the phone in October and see if a Blockchain phone is really something the masses want to buy.

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📈 Pricewise Vaido Veek

BTC Looks Bullish, XMR Has Waited For Opportunity, ETH Is In Trouble: Price Analysis, Oct. 5, 2018

Pricewise
Bitcoin is technically good to make another ‘leg’ upwards, Monero is getting ready for breakout, Ethereum is in trouble
BTC Looks Bullish, XMR Has Waited For Opportunity, ETH Is In Trouble: Price Analysis, Oct. 5, 2018
Contents

*** Please note the analysis below is not investment advice. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of U.Today. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Bitcoin is technically good to make another ‘leg’ upwards

Yesterday was bullish-day and the "Hammer" worked nicely as a bullish pattern. BTC price found a resistance from the trendline which is pulled from July 24. Several attempts in the lower time frames to break upwards have failed, and currently, it makes a healthy little throwback (movement downwards). Healthy, because after impulse wave (yes, this is tiny impulse) there is always a correction before we can start another movement upwards.

The current correction has founded a support from the golden Fibonacci ratio at 62 percent, and we discovered a very strong area on the chart between the $6,530-$6,550 (marked with the orange 'box'). This area has worked historically as a strong support and as a strong resistance and no single candle close inside this orange area, only powerful candles through the area up-and-down, this makes this area super strong. If the current scenario holds us, then there is almost a perfect starting point to go to the higher levels.

First bullish confirmation is a trendline breakout, if we get at least a four-hour candle close above the trendline then it could mean another leg upwards to the next strong resistance at $6,767.

Let's count down all the bullish price action criteria:

1. Oct. 3. we got a bullish candlestick pattern "Hammer"

2. Yesterday (Oct. 4) we got a nice impulse upwards

3. Current throwback has  found a support from the golden Fibonacci level at 62 percent

4. Current throwback has found a support from the super-strong area

So, technically Bitcoin is ready to break that trendline!

To confirm bearishness then the candle close below the orange area will guide us to the lower levels and the full bearish confirmation is then when we also get a candle close below the $6,460 (blue line).

Monero (XMR/USD) awaiting breakout

Monero looks a little bit suspicious and looks like it needs to wait a moment and for the opportunity to break upwards from the triangle.

Currently, there have been several attempts to break through the counter trendline, but it has held the price nicely. Slowly, XMR’s move into the triangle tip to explode and if Bitcoin makes a move upwards and it breaks the trendline then definitely Monero has waited the perfect moment to do the same. At the moment it trades above the 200 EMA on the four-hour chart.

The counter trendline and the 200 EMA make together a strong support area below the current price. So, the only way that we could see a Monero coming down is if the BTC can't break that resistance and starts to come down, a candle closes around $6,450. In this case, we can say that Monero comes down also but currently, doesn't looks like that.

For breakout from the upper trendline, there are two target areas at $128 and $140. Those are the recently worked resistances, and we would recommend to take out some profits in this area because around $150 is just hell. There are multiple monthly supports and resistances that you never want to be on Monero if we reach into this area. The bounce downwards could be probably massive if the scenarios matching each other.

Ethereum (ETH/USD) is in trouble

Ethereum is in trouble. Almost all the altcoins trade above the major counter-trendline but Ethereum is not on the list anymore.

It has a break downwards from the trendline and from the strong area which is not a good sign, but we can find something positive also. Currently, it has an opportunity to make a new higher low on the market structure, and it shows that the power is still there, but we lost the momentum. It has difficult times ahead to break above the first strong area at $225, and it is even harder because on the four-hour chart there are also 50 and 100 EMA's which started to work as a resistance.

To see a bullish Ethereum:

1. BTC and the whole market has to start to grow, Ethereum can't push the price upwards by itself!

2. It has to break above the blue line at $225

3. It has to break above the counter trendline

4. And the final confirmation is a break above the second strong resistance at $236

If the market can't find that power, then we may come down to the "smoother trendline" (brown line) and even lower than that! So, be careful!

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