Europe-based Crypto Mining Startup Bitfury Plans for an ...

TOP 3 Anonymous Cryptocurrencies

TOP 3 Anonymous Cryptocurrencies
Last year Bitfury’s multidisciplinary Blockchain specialists announced the possibility of revealing the identities of more than 16% of all owners of Bitcoin addresses. Several years ago, a team of CryptoLux developers, having conducted a study of transaction privacy on the Bitcoin network, concluded that 60% of all addresses can be deanonymized. Summarizing all this, it’s worth highlighting three existing methods that can successfully deanonymize private transactions.

Clustering

The easiest way to cluster (link Bitcoin addresses) is by analyzing transactional networks. In other words, this is a method that allows finding several inputs combined in one transaction. The second clustering method is “distribution analysis”. It allows calculation the percentage of cryptocurrency at the certain address that comes from another specific address and it becomes clear whether these addresses are connected by one direct transaction or a chain of transactions or not.

Graph analysis

It consists of quantitative and temporal analyzes. Quantitative analysis studies not certain transactions, but amounts. Time analysis tracks specific periods.

Memory Pool Method

When a transaction is made through the user’s wallet, the input nodes send information about the transaction to the Blockchain network. The purpose of this method is to identify the set of input nodes through the wallet and the user. In this case, the IP address of the client can be associated with its transactions. There are certain private cryptocurrency-leaders which are popular and trusted among users. Using one feature-privacy, they have different ways of functioning.

Basic principles of work: anonymous cryptocurrencies (Monero, Dash, Zcash)

Monero

The platform focuses on privacy and decentralization. The coin uses three levels of protection:
• Ring signatures, that hide the origin of the sender by mixing the user’s address with the addresses of other group members. • Ring confidential transactions, which hide the amount of the transaction. • Stealth addresses, that allow a user to hide the recipient’s address.
Such way guarantees the privacy of the sender and the recipient. Monero can be bought on Poloniex, Bitfinex, Livecoin, and Kraken crypto exchanges. It is possible to store Monero via an online wallet. More secure is its computer wallet. Due to its privacy, the popularity of the coin is expected to grow, so it makes sense to add a coin to an investment portfolio.
Advantages
• Increased privacy. Cryptocurrency is suitable for those who are afraid of deanonymizing network transactions. • Unlimited and difficult mining. • It takes less time to find blocks. • Resistance to the centralization of mining capacities.
Disadvantages
• Resources. All currency protection technologies require impressive machine performance for normal operation. The Monero block size is constantly growing, and this requires additional resources of network participants. • The popularity in the dark web leads to problems in working with regulatory authorities, exchanges often delist it. Speaking of reputation, Monero’s reputation is far from the best. The coin is often used on the dark web as payment for various illegal services. It happens to almost all crypto coins that provide privacy. • Large transaction sizes. Since Monero Blockchain is five times larger than the Bitcoin Blockchain in terms of one transaction. • Problems with scalability.

Dash

The Dash platform is a classic decentralized Blockchain-based payment system and the most technologically advanced cryptocurrency. It implements multi-off-chain money transfers without loss of reliability and overall security of the Blockchain. Its confidentiality is rather an additional option that can be used optionally. In the case of anonymity, it is possible to send a hidden transaction, but at a more expensive cost, which also requires additional time. Dash developed a hashing algorithm with eleven cryptographic functions-X 11 for the first time. The coin developers have released apps for other platforms. Today it is possible to use Dash for IOS, Zeal for Linux, LovelyDocs for Android and Velocity for Windows.
As well known, the CoinJoin is an anonymization method for crypto transactions, which is used by Dash as an improved version called the PrivateSend. Its mixing sessions are limited to 1,000 DASH for each session and will require multiple mixing sessions to anonymize a large amount of money.
Advantages
• High transaction speed. It is achieved via InstantX technology, which enables the confirmation of operations in less than 4 seconds. • Law transaction fees. • Energy consumption. Unlike Monero, it does not require a lot of power or high commission costs.
Disadvantages
• “Transparency” of the network. Without triggering the “mixing” mechanism, the directions of transactions and their balances are publicly visible to everyone. • Lack of proper cryptographic technologies that provide privacy, but can provide a sufficiently high level of protection. • Transaction visibility to the founders and the team.

Zcash

An open-source decentralized cryptocurrency that provides users with maximum privacy. Zcash is the first private cryptocurrency, using cryptographic protocol zk-SNARKS, a zero-knowledge security layer. It allows users to make hidden and open transactions.
Mathematically guaranteed privacy is something cryptocurrency can not be proud of. This fact makes the currency specific. All Zcash coins are identical, it means that interchangeable coins do not contain information about past use created. In this regard, the connection of coins with their history on the Blockchain is broken, which makes them universal and identical to each other. Zcash blocks are generated 4 times faster than Bitcoin. The currency trades on Huobi, Bitfinex and Binance exchanges, and after purchase, it can be stored on the exchange’s internal wallet, as well as transferred to Jaxx, Cryptonator and Coinomi multi-currency wallets. Coins can also be stored on hardware wallets like Ledger and Trezor.
Advantages
• Privacy. Since no information except the time stamp, is recorded in the Blockchain, transactions cannot be tracked, and the identity of the sender and recipient is almost impossible to establish. • Interchangeability. Due to interchangeability, all coins have a “clean” history. This means that it is practically impossible to determine which transactions coin was used. • Security. Lack of information about user keys, which protects user wallets and the network.Mining energy efficiency. Zcash mining hardware consumes less electricity than Bitcoin mining ASICs. • The difficulty of mining. Zcash is beneficial for those who want to get coins for block creation. Bitcoin mining becomes more and more complicated, so miners cannot earn enough money via their computers with high capacity.
Disadvantages
• 6 users can decide to leave the transferred data completely open. • It takes a lot of calculations to complete a transaction. • Insecurity. There are fears that the system could be hacked, or users may accidentally open the data. • Legally ZCash is supported only by Linux, however, it provides users with wallets for other platforms: Jaxx, Ledger, Trezor, Trust, Zecwallet, Ibitcome, Exodus, Guarda, Coinomi, Cobowallet, and Bitgo.
Private cryptocurrencies are necessary for anyone who values the privacy and confidentiality of financial transactions. Privacy can generate more value, than danger, as Eric Hughes says: “Privacy is necessary for an open society in the electronic age. Privacy is not secrecy. A private matter is something one doesn’t want the whole world to know, but a secret matter is something one doesn’t want anybody to know. Privacy is the power to selectively reveal oneself to the world”.
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GAINS Announcements

GAINS Daily Report- August 13
🔹 General News:
💻 Blockchain firm Bitfury turns to AI for big data mining 🏦 Latin American banks to use Bitcoin for cross-border payments
🔀 Seed CX begins testing physically settled Bitcoin margin swaps
🇦🇷 Argentina Bitcoin exchange shows premium after peso crash🤝 Google Cloud partners with Blockchain platform Cypherium 📝 XRP investors file new complaint against Ripple for issuing unregistered security under SEC guidance
🔹 Exchanges:
Beaxy exchange shuts down as it goes after rogue traders
🏦 Blade raises $4.3M from Coinbase, SV Angelto reshape cryptocurrency derivatives trading 🔁 Binance make changes to BEP2 Community Listing program
❌ Bitfinex’s partner exchange, Ethfinex, is closing and relaunching as DeversiFi 🕵️ ‍ ♂️ BitPay now requires your Photo ID for purchases over $3K in Bitcoin
🔹 Misc:
🎭 Exit scams swindled $3.1 Billion from Crypto investors in 2019: Report
🔹 Cool tech fact: The internet is 11111 days old today 💬 Quote of the day: "The time that leads to mastery is dependent on the intensity of our focus."— Robert Greene
submitted by kafui-riks to CryptoNews [link] [comments]

In case you missed it: Major Crypto and Blockchain News from the week ending 12/14/2018

Developments in Financial Services

Regulatory Environment

General News


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Top Stories, Price Movements, Quotes and FUD of the Week

Top Stories, Price Movements, Quotes and FUD of the Week
Top Stories This Week
FinCEN Takes First Enforcement Action Against Peer-to-Peer Cryptocurrency Exchanger

In an apparent first, the United States Financial Crimes Enforcement Network (FinCEN) has given a penalty to a California resident who has been accused of wilfully violating money transmission laws as a peer-to-peer virtual currency exchanger. The department noted that the move marks its first such enforcement action, thus setting a precedent. The defendant — Eric Powers of Kern County, California — has been fined $35,000 and debarred from future work that qualifies as a money services business. The fine came from the determination that Powers violated his reporting obligations under the U.S. Bank Secrecy Act.
Self-Proclaimed Satoshi, Craig Wright, Sues Podcaster Peter McCormack for Alleged Libel

Craig Wright, the chief scientist at nChain and founder of bitcoin SV (BSV), filed a libel claim in the United Kingdom against cryptocurrency podcaster Peter McCormack. McCormack had previously accused Wright of fraud and falsely claiming to be Satoshi Nakamoto, the creator of bitcoin (BTC). In response, Wright’s claim allegedly requests over $130,000 in damages, as well as legal costs and court fees. Earlier this week, Binance, ShapeShift and Kraken decided to delist BSV amid Wright’s continued claims to be Satoshi, as well as his bounty offering in the search for the identity of the anonymous Twitter user behind the Lightning Torch.

French Gov’t Minister Open to Enabling Crypto Donations for Notre Dame

Cédric O, France’s Minister of State for the Digital Sector, said this week that he is open to accepting cryptocurrency donations for the reconstruction of the Notre Dame Cathedral, which experienced a debilitating fire last week. The donations for the medieval cathedral’s reconstruction have already reached over $1 billion, while not yet allowing for donations in crypto. The official fundraising site is linked to four approved organizations, with Cédric O noting that the government is open to discussion on how to accept crypto to drive up the fundraising.

Both BlockShow, an international blockchain event powered by Cointelegraph, and major crypto exchange Binance have launched crypto donation campaigns for the renovations.

Forbes Releases List of Billion Dollar Companies Using Blockchain

Financial news outlet Forbes released their “Blockchain’s Billion Dollar Babies,” a list of companies implementing blockchain technology that have minimum revenues or valuations of $1 billion. The list includes both companies in the crypto and blockchain development spaces, as well as larger companies in the traditional markets, such as banks and clearing houses, food companies and supply chain management firms. The list contains such household names as Amazon, Walmart, Facebook, ING, Mastercard, Microsoft and Nestle, as well as U.S.-based cryptocurrency exchange Coinbase, European mining and hardware firm Bitfury, and blockchain-based financial services network and XRP token creator Ripple.
Nestlé, Carrefour Work With IBM to Track Mashed Potato Brand With Blockchain

Switzerland-based food giant Nestlé, French supermarket chain Carrefour and IBM have partnered in order to use IBM’s blockchain tech to track French instant mashed potatoes. Shoppers will be able to use their smartphones in Carrefour stores to scan the packs of Mousline instant mashed potatoes with a QR code and be able to see data on the potatoes, including the varieties of potatoes used, the date and place of manufacture, and their journey to the store. In general, around 5 million different food items already employ blockchain in their supply chain in some form.


https://preview.redd.it/wxe53doqvpt21.png?width=596&format=png&auto=webp&s=750937293d5fe80296b60d415897f0e1ab60b044
submitted by Bitcoin_Exchange7 to u/Bitcoin_Exchange7 [link] [comments]

Blockchain in FinTech — Investor’s View

Blockchain in FinTech — Investor’s View
https://preview.redd.it/k7v7xgw0gqs11.png?width=749&format=png&auto=webp&s=1f796daca7993397d17e8535cde3649b184ebf5c
As the inflated expectations around blockchain technology have retraced back to the realistic development around it, we stride forward towards reaching the plateau of productivity in realizing the true power of Blockchain Technology.

https://preview.redd.it/6fvunm82gqs11.jpg?width=650&format=pjpg&auto=webp&s=c12c70df52db8499f01dc0d1c734b1a2a5305f83
Thus far, blockchain has been the largest crowdfunding exercise in history. A blend of VC funding & IPO but yet a standalone entity with its own quality embedded, ICOs have been garnering the required capital for blockchain companies to produce blockchain enabled solutions.
FinTech companies create an ecosystem that fosters the collection of vast amounts of data and builds trusted relationships with clientele. Financial Institutions have realised the importance of these ecosystems and are attempting to engage with and bring innovation inside their companies.FinTech solutions on the other hand are exploring various possibilities of incorporating blockchain technology in its core in order to stay ahead in the curve of financial revolution. Legend believes this century to be of Financial Revolution and blockchain enabled fintech is the way forward to achieve this.

https://preview.redd.it/2ysd9yr4gqs11.png?width=800&format=png&auto=webp&s=d5e6c8807f4c6ea2b8363699d85e3f47c51e1088
FinTech companies are driving market changes by focusing on emergent technologies that will provide a renewed experience for their customers. One specific technology is Blockchain. The most likely business use cases of blockchain, as seen by 55% of respondents, is in Payments Infrastructure, followed by Fund Transfer Infrastructure (50%), and Digital Identity Management (46%). In fact, the latter is being explored as a possible area of blockchain use by various government services. We have also witnessed growing interest in the technology from insurance companies in areas such as personal and marine insurance, including claims processes.
Though the coherent system in Blockchain-FinTech is yet to be put in place, there are several nations across the world who’ve embraced this evolving technology. Let’s have look on the top three countries leading the race of Blockchain — FinTech startups. Singapore Popularly known as the financial hub of the world, it is of no surprise that Singapore is the global innovation leader in the Blockchain-FinTech space. The third largest ICO market in the world, Singapore, is an early advocate ofblockchain technology and crypto. Singapore’s strategic position is to let the crypto market grow with minimal intervention, provided that crypto market does not qualify as regulated market and, hence, fall under existing financial markets and securities regulations. If the latter is the case, the company may be subject to full blown regulatory regime set forth by MAS (as for any other Fintech business). It would nevertheless be slightly cheaper to step up a fully compliant business in Singapore compared to Europe. Gibraltar An early advocate of crypto — Gibraltar is popularly known as ‘the crypto-harbour’. Earlier this year, the government started drafting legislation to regulate ICOs. As a result, Gibraltar has already attracted a lot of cryptocurrency exchanges, among them BTCC, CEX and eToro. This spring the Gibraltar Blockchain Exchange (GBX) successfully completed its Rock Token sale. There are multiple applications for a DLT license at Gibraltar at the moment, and more than 200 applications for an ICO to hold at GBX. Gibraltar is a home to gambling, insurance and fintech companies, a mix that promises to keep the nation ahead in the technology curve. Malta The ‘Blockchain Island’, Malta is producing comprehensive law drafts to regulate the Blockchain Market. This has attracted major crypto businesses like Binance & OKex. Malta’s Parliamentary Secretary stated, “Malta has become a natural point of reference on the international sphere and companies such as Binance will continue to look into Malta to further expand their operations or establish a base.” If you’re keen to find out more, the upcoming Malta Blockchain Summit runs from November 1–2 and spans four conferences hosted over two days.
As Forbes reports, these are top three Blockchain companies, bringing innovative solutions to transform the world. These companies have garnered worldwide trust and following amidst the turbulent sea of uncertainty regarding crypto regulations.
The Bitfury Group, Amsterdam Produces both hardware and software for Bitcoin mining and security, as well as a wide range of software to support blockchains in government, supply chains and insurance. Blockchain, London. World’s most popular cryptocurrency wallet, enabling users to manage private keys for Bitcoin, Bitcoin Cash and Ether. Its Expansion to U.S. now allows crypto trading in 22 states, including California.
Chain, San Francisco Offers blockchain technology for financial institutions, as well as ledger balance software for fintech and ecommerce companies
In India, the stellar growth Blockchain Technology has sprung a new breed of blockchain startups across the nation. While many who have been early adopters, are now incubating this growing breed believe blockchain to be as revolutionary as the internet. Top Indian companies who’ve also made considerable footprints worldwide in the blockchain domain are:
Auxesis Group Auxesis Group, world’s leading blockchain company who is closely working with several Indian state governments to incorporate Blockchain enabled solutions in various sectors including EHR, Land Records, Supply Chain, Invoice Financing among others. They are progressively building a platform, Auxledger, which brings the next generation features of Customization and cross-chain communication enabling Blockchain in mainstream enterprise adoption.
CoinSecure Coinsecure is one of the early movers of Bitcoin and blockchain technology in India. They provide an easy to use Bitcoin exchange, merchant services, a blockchain explorer, as well as a hosted wallet. They have a simple and single motto of “Connecting India to Bitcoin”. They seem to be doing just that and show no signs of stopping.
Trestor Trestor is an India’s first blockchain startup, which has created “Trest” a secure, digital, store of value. Using the power of Trestor’s blockchain and their decentralised network of trustless nodes ‘Trests’ can be transferred directly from person to person anywhere across the globe.
These are early days yet, with blockchain still in an exploratory phase.
It’s the startups of today that will give rise to the solutions of tomorrow, and for the second time in one generation, we have the opportunity to watch an industry growth everest north — Industrial Revolution 2.0, enabled by Blockchain.
submitted by Nikcollet to Auxledger [link] [comments]

Daily News Discussion, July 20, 2018

General

Welcome to the Daily Crypto News Update. Please use this thread as a quick overview of recent crypto news posted for the past 24 hours, and join for all crypto discussions!
Please read the disclaimer and rules before participating
Disclaimer: The content of the thread and news should not be relied upon as advice or recommendations of any kind. Use this thread for informational purposes only. It will be your responsibility to take the risk trading based on the recent crypto news. Remember the golden rule - Past results are no indication of future performance.
Rules: The subreddit and Reddit rules are still in force here. Please keep the discussion related to cryptocurrency news only and do not use this thread to solve your technical issues on Bitsgap platform.

News

That's it for today!
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#452 Bitfury ASIC Miner, Geldwäscheskandal ohne Bitcoin & Mega Boom durch DEX Cardano Shelley Begins, Unlimited Easing, Binance Mining, BitFinex Pulse & Be Careful First time mining for bitcoin BTC using 2x USB 2PAC BM1384 Sticks (*FOR FUN*) Binance Tutorial deutsch - Anleitung zum Kaufen und ... Canada Crypto Mining - HUT8 Mining -Bitfury - 8min Documentary by Jan Cerato - Bitcoin Binance CEO Says Bitcoin Mining May Move to Cheaper Places ... BITFURY'S BLOCKBOX MONSTER! 7.5PH OF BTC MINING POWER! Buying a $800 Pre-built Bitcoin Cryptocurrency Mining Rig ... I Spent $100,000 Building a CRYPTOCURRENCY & BITCOIN ... BINANCE BITCOIN MINING POOL Coming Soon! XRP Not A ...

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#452 Bitfury ASIC Miner, Geldwäscheskandal ohne Bitcoin & Mega Boom durch DEX

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