Co-founder NEO: our project is not a “Chinese Ethereum”

NEO gradually loses the HYIP, which can be observed around the cryptocurrency in 2017. Then “Chinese Ethereum” was among the ten largest coins with the highest of hopes. At this point NEO has lost the lion’s share of its capitalization and fell several times.

Recently co-founder of the Eric Zhang gave an exclusive interview to journalists CCN about his plans for future NEO. He noted that for the most part only interested in the technical side of the development. It does not care about the price of NEO.

Exit from the matrix

Everyone has heard about the Creator of NEO Yes Hongfei. You prefer to work behind the scenes? What is Your role in the project?

Yes Hongfei did a good job in promoting Neo and made a huge contribution to the whole industry as a whole. Yes it was in public, while I focused more on the commits in Github.

Can we call NEO “the Chinese Ethereum“?

It is for the most part, due to the hype. We never promoted NEO in this way, and I myself am against such a view. And although the project was founded by two Chinese people, I do not believe that their nationality should be directly associated with the nationality of a startup. In my eyes the founder is nothing more than a mascot. Finally, the one who can defeat the Ethereum will never be a “second Ethereum”.

Both projects have their own tokens. They can work with smartcontract, but there are differences between them. First, in the mechanism of consensus. If Ethereum is based on PoW, NEO — dBFT.

Second, smartcontract cryptocurrencies are developed in different programming languages. The developers of Ethereum are Solidity, while we work on C#, Python, Java, Golang and JavaScript. In the end, Ethereum will become the world’s computer, and NEO is more of a smart economy.

At the WEB SUMMIT in Lisbon Yes Hongfei said that NEO is ready to the real economy. What does it mean?

From the point of view of social revolution, we must constantly monitor the blockchain for mass adoption and good design. We have often witnessed improper use of the potential of cryptocurrencies.

The vision of the smart economy team NEO consists of smartcontract, digital identities and digital assets. The creation of the digital ID verification is another important task for programmers.

You believe in regulation of cryptocurrencies?

Local authorities still encourage new development in the field of blockchain. I think, while this process develops in a positive way.

Trade is not prohibited, in China only exchanges outside the law. This will not affect the NEO, or any other projects. Now the coin cannot be exchanged for Chinese trading platforms, but it can be freely done on foreign resources.

What are the plans of developers?

We plan to integrate support for large commercial applications on the blockchain. To achieve this goal will require improvements in the infrastructure of NEO and make some changes to the mechanism of consensus dBFT. Over the last we have been working for six months.

Plus we are moving in the direction of the development of decentralized storage network NeoFS. Thanks to them, the applications on the blockchain will be able to process huge amounts of data. The first release version NeoFS should appear in the third quarter of 2019.

What about hard forks?

In 2019 NEO will receive one of the most important upgrades. To improve to NEO 3.0 we need to have at least one hardwork. You may need even the transition to the new blockchain. However, all these issues are still under discussion. In any case, the code project will have no major interventions until 2020.

How do You see the future of cryptocurrency?

I don’t think they can achieve real success in the practical application of the blockchain. This technology reduces costs at the expense of decentralization, which is contrary to the very nature of such institutions.

Do You have any predictions for us?

No, I’m not a magician.

The post Co-founder NEO: our project is not a “Chinese Ethereum” appeared first on FineCrypto.

FineCrypto

JP Morgan has launched its own cryptocurrency

The largest Bank in the US JP Morgan has launched its cryptocurrency secured by the US dollar JPM Coin. The investment Bank launched a token, such stablein, which will have wide application: from the settlement of cross-border payments up to the use of Treasury bonds of the Bank.

Banking giant handles daily transactions worth about $ 6 trillion, part of which will be conducted using the established coins JPM. Coin will only be available to its institutional customers, who can buy it for U.S. dollars.

Head blockchain project of the company JP Morgan Umar Farooq sees three main options for the use of a token:

  • International payments. Large corporations transfer millions of dollars every day using Bank transfer network Swift, which usually takes a few days, and using a token, you can perform almost instantaneous calculations.
  • Operations with securities — Faruq argues that JP Morgan has created a certificate of Deposit on the blockchain by $ 150 million to a canadian Bank.
  • Replacement of dollars stored in Treasury bonds. The token can replace the dollars that are owned by subsidiaries of huge corporations around the world.

General Director JP Morgan James Dimon repeatedly criticized and even cryptocurrency called Bitcoin a “Scam”, but now he enjoys the first-mover advantage and seeks to gain a significant share of the market for corporate payments.

The post JP Morgan has launched its own cryptocurrency appeared first on FineCrypto.

FineCrypto

The restriction of the right to write computer code — a violation of freedom of speech

The electronic frontier Foundation (Electronic Frontier Foundation, EFF) has criticized the recent statements of the Commission, US securities and exchange Commission (SEC) that those who writes and publishes code of computer programs should be confident in complying with securities legislation.

We are talking about the statement of the SEC concerning decentralized cryptocurrency exchange EtherDelta, which States that the person giving publicity to a software algorithm can be seen as a person operating in the securities market.

The EFF sent an open letter to the SEC in which the Fund reminds the public of the Commission that the activities of publishers and writers included in the scope of protection of the First amendment to the U.S. Constitution about freedom of speech and that there is a bias of public bodies, requiring licensing of people who only directly exercise their right to freedom of speech.

A decentralized market EtherDelta founded by entrepreneur Zachary Coburn. The SEC accused him in the management of unregistered securities stock exchange, Coburn agreed with the claim and agreed to pay more than $ 300,000 fine. EFF does not have its own position on EtherDelta violates the laws of the United States or not, however, the Fund appealed to the SEC with an urgent request to clarify wording regarding what a person is responsible for what it just wrote and published a code of a computer application.

If you do not take into account the current problems, which SEC as the state Commission may have a c EtherDelta, it becomes obvious that the decentralized exchange (DEX) have certain advantages for consumers. That is why it is so important that administrative obstacles are not strangled at the root of innovative technology DEX only based on the fact that someone allowed themselves to write and distribute computer code.

Centralized exchanges impose itself as the sole mediator who has the ability to freeze the funds of clients and block or random trades without any obligation to provide the injured party’s rights to appeal. Centralized exchanges are also often subject to technical interruptions in their work, which prevents customers to have seamless access to their digital assets. In addition, these exchanges are not only a target for criminals aimed at stealing users ‘ funds, but they can be under the control of unscrupulous individuals who abuse their access to funds and customer data.

In contrast to centralized exchanges DEX allow for the exchange of digital currencies with the use of smart contracts. Requests to buy and sell cryptocurrencies can be represented in the form of a smart contract, which itself checks the conditions of the transaction and commits the transaction. Decentralized exchanges, as a rule, is not required to hold clients ‘ funds, on the contrary, customers retain possession of private keys, that does not prevent DEX automatically to exchange, not owning assets. This is why decentralized exchanges are not attracted to third-party intruders and not tempt owners of the exchanges to the theft of customer funds. Moreover, the decentralized transaction can be revised at the initiative of the intermediaries, because they are not approved by any individual or company.

Decentralized exchanges are now in the early stages of its development. At the moment they are not widely used, however, are the focus of ongoing research and innovation. Many cryptographers and programmers are experimenting with systems of smart contracts to develop new systems to help users to get rid of the risk of using online transactions in the centralized markets.

“Protection of freedom of speech enshrined in the First amendment and confirmed cases for decades, includes the right of individuals to publish their ideas without prior obtaining the license,” — emphasizes the electronic frontier Foundation.

Perhaps in the specific case EtherDelta had a lot of facts which attracted the attention of the SEC, but the mere act of publishing code used in the software decentralized exchange may not be cause for administrative or criminal prosecution, as it is a direct violation of the First amendment to the U.S. Constitution.

The post The restriction of the right to write computer code — a violation of freedom of speech appeared first on FineCrypto.

FineCrypto

Traders massively close their short positions on Bitcoin: the Decline has stopped?

Over the past two months several traders who opened short positions on Bitcoin during its historic high, recently started to get out of their shorts in the range from 3000 to 4000 dollars. For example, today trader under the name Cryptofungus stated that it had closed its short position after a little over a year after its opening.

Cryptofungus tore quite a good sum of shorts were opened at a market price of Bitcoin at 19 665 dollars. Right now, cryptocurrency is valued at only $ 3638.

A reversal soon

Earlier, former economist at the International monetary Fund, mark Dow also closed one of the most lucrative deals in his life. DOE successfully managed to short Bitcoin when the bitcoin was at the peak of its value.

The longest bear trend in history the market often surprises traders. In February 2018, the Bitcoin price rebounded from the support zone of 5920 dollars and increased almost two times to the level of 11 $ 780. Note that February is traditionally considered the most “green” month in the auction of the crypt.

Despite the positive indications from technical indicators, traders like Dow and Cryptofungus do not hurry to play on the rise. Now they have recorded their profit and continue to monitor the market. Being careful, because Bitcoin still has a chance to fall below a key support level.

This Civic also sure CEO Vinny Lingham. We will remind, earlier he declared that if the Bitcoin will fall below $ 3,000, the current “Kriptonika” can turn into nuclear.

However, even in this case, the current market price of cryptocurrencies is quite a good area for taking profits, after which we have a long period of accumulation.

The post Traders massively close their short positions on Bitcoin: the Decline has stopped? appeared first on FineCrypto.

FineCrypto

5 restaurants for couples to accept bitcoin

February 14 or Valentine’s Day is celebrated around the world, in this festival it is customary to give a gentle and memorable gifts. For a long time, these Souvenirs give pleasant memories of relationships, care and love, writes Thecryptoupdates.

For citizens it is especially important to spend the day alone with each other, moving away from the rhythm of the city, giving yourself the opportunity to concentrate on feelings. We decided to help you in choosing the institution that will allow you to relax from the urban bustle.

Here are 5 of the best restaurants around the world, where lovers can spend an unforgettable evening to pay with the cryptocurrency.

1) Le pas sage

This beautiful restaurant is located in one of the largest indoor arcades in Paris. Le Pas Sage, offers traditional French cuisine with an original twist. If you want to enjoy authentic French food with excellent wine and great service, this place will not disappoint you.

Address – Passage du Grand-Cerf 1, 75002 Paris

2) Kitsune Dining & Bar

Address – B1 Chatelet Shibuya 2-20-13 Higashi Shibuya-ku Tokyo 150-0011 JAPAN

Start your day with shopping in Shibuya and Harajuku, especially in the stores focused on the national culture of Japan “kawaii”, and finish the evening at Kitsune Dining & Bar. If your girl is a big fan of sushi, Kitsune Dining & Bar is the ideal institution to obtain the fun dining experience. In addition to Japanese food, Kitsune Dining & Bar serves French and Italian cuisine.

3) Pink cow (The Pink Cow)

The address is Minato-ku Akasaka, 2-7-5 bright, Japan

Every month this restaurant hosts a number of live music concerts featuring the best musicians in Tokyo. This stylish place serves the best Mexican food, this is truly a little oasis of great food, drinks and a lively atmosphere.

4) Hackers Bar

Address – Roppongi, Minato-ku, Tokyo 7-12-3-4F

This bar is located in a skyscraper called Power House with a motley team of tenants. It has karaoke rooms, a lounge and a bar in the style of Star wars called the Force of Roppongi. In addition to a stunning collection of cocktails, the bar offers a delicious assortment of dishes. You can also consult hacker on the system design, development and management of the business.

5) L apollinaire

Address – rue 2 de la convention, 75015 Paris

In this fun and friendly place for a quick bite, tasting French cuisine and other European countries.

The post 5 restaurants for couples to accept bitcoin appeared first on FineCrypto.

FineCrypto

Bitcoin will appear in performance at the Carnival in Rio de Janeiro

Imperatriz Leopoldinense, the famous Brazilian Samba school that chose money as the theme of his speech at the Carnival in Rio de Janeiro in 2019, which will be held from 2 to 9 March. The dancers will tell the story of money, beginning with the first metal coins and paper currency to cryptocurrency.

The representatives of the Samba school I think that the topic of Bitcoin will make an impression on the audience of the carnival and help the school to win the competition this year. According to the information on the website, the performance will be called “Give Me Some Money”, said the Brazilian cryptocurrency portal Portal do Bitcoin. It will focus on the relationship between money and humanity since the invention of the first currency in ancient times to the present, when they exist in digital form.

“Our story is about money and the relationship of people with them from their invention until the present time. Without a doubt, this is one of the most important tools of the economic life of Nations and peoples”, — reads the statement of the Samba school.

The plot of the speech covers the different periods of human history and important events, such as the minting of the first coins in the ancient Kingdom of Lydia in the 7th century BC and the first paper money in China in the 10th century. He then describes the market relationship between the indigenous people of South America, Indians and the European explorers and also the first Brazilian mint, which minted coins that were used in the slave trade.

The choreographers will draw attention to saving and investing of money through Bank deposits, financial instruments, and other tools. Dancers of Imperatriz conclude at the carnival in Rio topic of Bitcoin. Dancers noted that a growing number of companies globally are beginning to use cryptocurrency.

“We will finish the parade, speaking about the future, using existing cryptocurrencies are digital resources that are designed to function as a medium of exchange”, — stated in the message of a Samba school.

The post Bitcoin will appear in performance at the Carnival in Rio de Janeiro appeared first on FineCrypto.

FineCrypto

TON Durov is the Savior of the crypts or bad taste?

Not many people like total control, the collection of personal data, censorship and destruction of accounts, together with the author’s content. The output is obvious: you need to create a shadow network to replace the outdated a web, the threads of which holds in his hands the state. Telegram Open Network (TON) designed for this.

Existing since 2013 the messenger Telegram will be just one of a TON of services, but rather an example of the use possibilities of the new network. Acne Buterin, creating a volatile Ethereum, dreamed of a global virtual operating system, which will live third-party applications built on distributed architecture of the blockchain. But this baturinskaya ambition is only a subset of what swung the other Russian nugget — Pavel Durov.

Humanity is enslaved by organized criminal groups who call themselves “States”. Pavel Durov

Let’s evaluate the scope of the project. That will include a TON:

  • TON Storage — distributed file storage system available through peer-to-peer network. Users will be able to rent the space and get rewarded in bitcoin Gram.
  • TON Proxy — anonymizer that allows you to hide the address and authentication details of the nodes in the network.
  • TON Services is a distributed operating system platform for third-party apps and smart contracts, that is, the embodiment of the paradigm of Ethereum.
  • TON DNS service for assigning human-readable names of the nodes, smart contracts and other members of the network.
  • TON Payments — a system of micropayments that implements an immediate transfer of values outside of the blockchain, and designed to replace the existing financial channels, such as VISA and Master Card.

The sophisticated reader will of course say, “It’s already there in the existing the Internet: cloud storage, proxies and even Tor, a platform for distributed applications and, of course, the Domain Name System, but electronic payments is no surprise”. It’s hard not to agree, however, TON is built on a blockchain that is protected from external control and provides, and is an inherent property of any blockchain — the transaction is irreversible and immune to destruction or alteration of data.

Blockchain TON — the most interesting feature of the project from a technological point of view. TON includes child blackany and has a tree structure. This construction is aimed at scalability and performance.

The blood running through the vessels TON is a cryptocurrency Gram. It is not malitsa and consensus is required for chaining is achieved using the algorithm proof of stake (PoS) that is resistant to Byzantine errors (BFT).

Apparently, the least attractive feature of the project TON is the emission of cryptocurrencies: it single. It is planned to issue 5 billion Gram. For sale selected by 44% left developers 4%, 52% kept as reserve. As you can see from the point of view of emission models, Gram reminds XRP with a common issue in the amount of 100 billion coins, of which the free circulation is only about 40%, and the rest frozen in the account and managed by the company Ripple.

In the case of TON, the role of Ripple will carry out a non-profit organization TON Reserve which functions as a regulator of the stability of the exchange rate Gram against the dollar. TON Reserve will buy up Gram in the fall of its price and put into circulation new coins in case of exceeding the upper threshold of the intended prices. This is very similar to the activity of the Central Bank, controls the national Fiat currency. What about the decentralization? No, no joy TON Reserve of cryptoanalysts.

The project of TON causes skepticism by many cryptoendoliths, in spite of the hype around the figure Durov, and maybe just because of his image of the Creator of a social network and messenger. But the impressive volume of investments received during private ICO ($ 1.7 billion) — the second volume in the history of the crypts (first place at EOS with a fantastic $ 4 billion) — forces us to treat TON seriously. Besides, at least two components of this ecosystem are already operational: the messenger Telegram and the Telegram system of Passport — solution to the problem of customer verification (KYC), which serves as a barrier to many cryptocurrency services. In addition, a prototype of a TON of Storage already exists is “favorites” (Saved) Messages in the Telegram where each user has the ability to store any personal data.

The messenger Telegram will include a free exchange of Gram — both between users and between them and the services. Thus, the Telegram will serve as an easy entry into the world of cryptocurrency to all its users, whose number has already reached 200 million.

For the first time in 70 years, the global financial system has a chance to get out from under the hegemony of the US, which imposed the world its national currency as a reserve and since then, in fact, collect tribute from all countries. Pavel Durov

In the community of cryptoendoliths argued that in order to start the next cycle of the cryptocurrency market, there should be a new cryptocurrency that have an innovative character and claiming the championship. This is precisely the role played Ethereum at the beginning of the cycle now ending in 2016.

The role of this crypto-currency-killer now claim the coins, using the Protocol MimbleWimble — Beam and Grin. How to know it is possible that Gram will be the long-awaited Savior of the crypts.

Or Gram — just a product of crossing between Ethereum and XRP — top 3 and top 2 in the list of cryptocurrencies?

Recently, I received a wonderful message. The Bell of mathematics to calculate that capitalization Gram can reach $ 29.5 billion by the end of 2019. They cited a number of arguments citing information provided to investors, and the dimension HASH Crypto Investment Bank in favor of the fact that by this time the cost of one token will be $ 5,9. Multiplication of this price by 5 billion expected emission just gives the result of $ 29.5 billion.

At the moment, the market capitalization of Bitcoin is nearly $ 60 billion, in the second place XRP with $ 12 billion it is Unknown what will be the main cryptocurrency market capitalization by the end of 2019, but if there is now a token Gram and made up of purported experts in the capitalization, it would be in second place by a large margin from XRP.

But wait for the end of 2019 not necessarily. You can now go on Chinese exchange LBank and buy a Gram futures at a price of about 0,0034 ETH ($ 0,357). It is not difficult to calculate that in the case that the predictions of The Bell relative to the price to $ 5.9 will be correct, by the end of the year you will make 16.5 x. Just please don’t take this as financial advice. It is rather hyperbole, utopia and the dream of a world where Gram will be the new Bitcoin and we’ll all live forever.

The post TON Durov is the Savior of the crypts or bad taste? appeared first on FineCrypto.

FineCrypto

Fraudsters have switched to LinkedIn

CEO Binance Chanpen Zhao (CZ) was forced to tweet about the activities of fraudsters. In particular, he said that the proposals concerning the listing that is sent to application developers Binance not have any relation to the activities of the exchange, writes Beincrypto.

In letters sent to developers of cryptoprocta, for a fee proposed for listing coins on Binance. For this reason, CZ drew attention to the widespread problem and called for the fight against fraud. He also noted that LinkedIn has about 20 official representatives Binance, while the number of people claiming to be team members of the exchange, exceeds 500.

Being the world’s largest stock exchange by trading volume, Binance attracts cryptocurrency startups or projects primary supply of coins (ICO), as a magnet. Many of them do not even dream about adding to the platform. This popularity generates a lot of fraudsters posing as representatives of Binance.

Lately, their activity has shifted to LinkedIn, a reputable social media platform used for professional purposes. Scammers are constantly improving their methods and explore new territory.

In early December, the General Director of the Binance wrote about the fraud listing. He urged users to be vigilant, adding that the staff Binance never associated with application developers, while they themselves are not applying for listing. In addition, signing their email messages exchange always uses PGP with a unique encryption algorithm.

It is noteworthy that at the time of startup Binance DEX, the exchange will charge an unusually high fee for listing new coins. The amount will be approximately $ 100,000, and this decision meaningful. Setting such a high entry barrier, the company hopes to filter out spam and frankly fraudulent projects.

According to CZ over time, the fee for listing may be reduced.

The post Fraudsters have switched to LinkedIn appeared first on FineCrypto.

FineCrypto

The old song about the main thing: Craig Wright once said that he is the real Satoshi Nakamoto

Principal investigator nChain Craig Wright again made a public statement that he is the Creator of Bitcoin. Recall that Wright included in the small circle of “suspects” who actually could be Satoshi Nakamoto.

Another “trick” Craig this time has caused confusion and even anger, cryptocommunist. Last time he said about his attitude to the creation of major cryptocurrency in November 2018. Then Craig Wright in the heat of debate on the eve of the hard forks of Bitcoin Cash in the e-mail correspondence with Roger Ver spoke again about his alleged direct relation to the development of Bitcoin.

Satoshi Nakamoto among us

At this time, Wright has published in a Medium post with the eloquent title “Be careful what you wish for”. The researcher nChain spoke about his “journey” on the way to the idea of Bitcoin, comparing yourself with Steve jobs.

“When Steve jobs was starting out, he was an outsider. He was many times rejected, but he fought for the right to build something every day. My attempts to create an alternative version of his first creations are contrary to my beliefs. And yet I allow myself to be in this situation.”

According to him, he did not expect to create a “anonymous system of money transfer”. He even despised people like the Creator of WikiLeaks, Julian Assange and Ross Ulbricht.

“They are not freedom fighters, they are not libertarians. They are simply predators, which represent the antithesis of what Bitcoin was created.”

Moreover, Bitcoin “needs” to function fully within the law with maximum transparency. Any user in the network of cryptocurrency (ostensibly on the idea of Wright) must be easy to find without “paperwork”. Finally, the last words the treatment of Wright was still a statement.:

“I Am Satoshi Nakamoto”

The post The old song about the main thing: Craig Wright once said that he is the real Satoshi Nakamoto appeared first on FineCrypto.

FineCrypto

Argentina: Public transport with bitcoin

Now passengers of public transport in 37 towns across Argentina can replenish credit score on their transport SUBE cards with bitcoin. This was made possible thanks to the cooperation of Alto Viaje, which is a framework for transit card, and FINTECH companies Bitex.

It is a small step for Bitcoin, a giant leap for kriptonyte. Integration payments in bitcoin and cryptocurrencies for goods and services is not something new. But such large-scale coverage of the population as commuters and buses. This is a serious promotion of digital assets.

“We believe that this project is important because it brings people such important technologies as Bitcoin and demonstrates the true value and its application in everyday life,” said Director of marketing Bitex Manuel Bodra.

The main task of the Alto Viaje – to make the process of recharge cards as affordable as possible. Prior to the adoption of bitcoin payments platform accept only PayPal, soon it will also handle payments through the local payment RapiPago operator.

The post Argentina: Public transport with bitcoin appeared first on FineCrypto.

FineCrypto