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Ethereum’s Constantinople Hard Fork Is Being Delayed Until 2019

Ethereum’s next hard fork, dubbed Constantinople, will be postponed until early 2019, developers confirmed in a meeting Friday.

Initially targeted to activate in November this year, developers opted to postpone the hard fork push after several bugs were found in the code that was released on a test network. Now aiming for sometime in late January or February, developers on the call Friday agreed that moving ahead with the hard fork next month would be unwise.

Speaking to this during the live-streamed meeting, developer Afri Schoeden remarked:

“I keep getting the feeling that we’re trying to rush this and I would second that we should breathe and see what happens.”

Constantinople features five backward-incompatible changes to the network, from minor code optimizations to more controversial changes like one that would reduce the amount of new ETH created with each transaction block.

The delay could have implications for other proposed changes as well. Martin Holste Swende, security lead at the Ethereum Foundation, said there could be time then to add code for another proposal, dubbed “ProgPow,” into Constantinople.

ProgPow is aimed at shoring up ethereum’s resistance to the specialized mining hardware, which many think could price out smaller mining operations that use GPUs to mine – and could trigger some centralizing effects.

“I’m going to go out on a limb here and say that if we do decide that Constantinople isn’t until January or February, then I would probably try to push for including ProgPoW into Constantinople,” Swende said.

ProgPoW was discussed in earlier core developer meetings but it was decided that the code couldn’t be rushed into Constantinople and instead – if it was met with consensus – be added to ethereum by way of another hard fork shortly after Constantinople.

Still, Hudson Jameson, the communications officer for the Ethereum Foundation, said Friday that developers already had a lot to do to prepare the network for the mainnet – or live blockchain – release of Constantinople.

Highlighting one of these items, he said: “We need to coordinate more with miners on when we switch over hash power and that also includes mainnet.”

Airport delay image via Shutterstock

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6 Facts About Changpeng Zhao (CZ Binance) You Probably Didn’t Know

Changpeng Zhao, popularly known by his cool moniker CZ, is the CEO of Binance, the world’s largest crypto exchange. Binance grew from an idea to the biggest market for crypto trading in just a few months. CZ, who loves wearing black, turned into a crypto billionaire pretty quickly, becoming a sensation in the world of blockchain.

Let’s take a look at some interesting facts about him.

CZ Rose to Fame in Less than 180 Days

Binance was founded on July 1, 2017. It became the biggest crypto exchange market in the world in a little under 6 months. Its initial coin offering was Binance Coin (BNB) that started at around ¢11 and now is valued around $10. It was over $24 in January this year.

He Worked on Another Trading System before Founding Binance

In 2005, Zhao was in Shanghai, where he founded Fusion Systems. It was a trading platform for brokers. He started his crypto journey in 2013 with blockchain.info. In 2014, he sold his Shanghai apartment for about $1 million to use this money on Bitcoin.

He Loves Binance and wears Binance

Well, this goes without saying. After all, he founded the company. But the fact is that he loves it so much that he isn’t passionate about houses or cars, but only Binance hoodies and T-shirts. He doesn’t own a single car or a house. But check him out in his mostly-black clothes. And since he’s generally seen in black, we’re guessing that’s his favorite color – like Steve Jobs.

cz_malta
Always wears Binance and black. With Malta’s Prime Minister. Source: Twitter

The Lambo Giveaway

He seems to love rather unusual marketing tactics. Binance has offered several promotions. One of them had a Lamborghini as a giveaway! While CZ himself isn’t interested in cars, his company’s promotional methods have generated a lot of attention. Although we’ll have to give it to his marketing chief who came up with this idea.

lamborghini
The LAMBO Giveaway

He Worked at McDonald’s

CZ was born in Jiangsu, a coastal province in China. His parents moved to Canada soon after he was born. As a teenager, he started working to help with the household expenses. In the 1980’s, he joined McDonald’s and flipped burgers to help his family.

Later, he went to McGill University and studied Computer Science. He was also passionate about stock markets and trading, which made him choose this career.

mcdonalds
Same Colors? McDonald’s

He’s Minting Money Now

Worked at gas stations and McDonald’s, and he’s here now. His company, Binance, is expected to rake in about $1 billion in profits in 2018 alone. While big cryptocurrencies such as Bitcoin, Ethereum, and Ripple saw a little downfall in their values this year, Binance has been booming and is making big bucks for CZ.

With such unprecedented success, Zhao has become a crypto star, and rightly so. His company, Binance can easily handle 1.4 million transactions each second.

The post 6 Facts About Changpeng Zhao (CZ Binance) You Probably Didn’t Know appeared first on CryptoPotato.

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Optherium: A New Era of Global Finance

Featured – The blockchain industry is currently going through dramatic changes associated with technological growth and legal regulations. Due to the fact that the industry is in its infancy, it undoubtedly possesses some risks in the form of different vulnerabilities. We have seen this recently with Bitcoin Core.

Those problems, however, are being eliminated by the implementation of new security standards in the form of a decentralized ecosystem, powered by a company called Optherium.

Optherium, a Blockchain-as-a-service provider for Fortune 500 companies, aims to help different financial institutions, banks, companies and corporations with their financial operations. This new platform will provide a way to send and receive money, using peer-to-peer technology to dramatically lower transaction costs and ensure speeds that up until now have been unheard of.

Currently, the project has successfully acquired Foreign Exchange Licenses, a Lichtenstein Bank License, and it is compliant with SEC Regulation D.

Optherium will also provide revolutionary security, in order to prevent the theft of cryptocurrencies and sensitive information. All of this is backed by Dynamic Biometrics and the MultiDecentralized Private Blockchains Network. So, how will these technologies improve the financial industry? 

Delivering New Security Standards

 In aiding the financial industry, Optherium has developed a MultiDecentralized Ecosystem, which provides a high level of security and scalability. Moreover, Optherium will work as an intermediary between clients and banks, providing seamless and high-speed crypto-to-fiat operations. The importance of this cannot be overstated, as there is currently no competitive crypto-to-fiat intermediary that can provide the needed security and flexibility in financial operations.

Optherium’s Ecosystems consist of Private Blockchains, which provide several important services inside the platform itself: a Decentralized Exchange, Key Recovery Service, Wallet Provider service, Know Your Customer Service, and B2B and B2C platforms.

Optherium already offers these features inside a reliable, fully-functioning multicurrency wallet called VivusPay, which is connected directly to the banking system and Optherium’s decentralized exchange, Bitcrox.io.

This will open doors for a variety of businesses and clients seeking a place to safely store and manage cryptocurrencies, with access to the assets and the platform itself protected with MultiSecure Technology™ and Dynamic Biometrics™.

Considering these technological improvements, many businesses will be able to avoid huge transaction fees and make payments almost instantly, ensuring a high level of sensitive data security. There won’t be a problem associated with credit card data theft or identity theft, which will save billions of dollars worldwide every year.

Dynamic Biometrics Changes the Game

Considering the fact that every year hackers steal billions of dollars in cryptocurrencies from exchanges and user’s wallets, the Blockchain field has to be modernized.

Optherium’s Ecosystem has a flawless defense mechanism against the theft of sensitive information, making it almost impossible to steal cryptocurrency. Moreover, if the client loses their private key, it can be easily restored via a special Key Recovery Service, which uses biometric data as a core component of the verification process.

The Dynamic Biometrics™ system uses specific biometric data (fingerprint, voice, dynamic facial movement, retina etc.) and stores it fragmentary across multiple private blockchains. Retrieval is invoked only via the special digital key assigned to the biometric data, which decrypts it in the process of verification.

Moreover, the system continuously distorts the biometric data, making it useless to steal even a fragment of it or the key itself which unlocks this data. All fragments of the Biometric Template™ will be different almost every time. On top of that, data fragments are scattered across different private blockchains. This makes Optherium very resistant to different types of hacking attacks. Every time the customer wants to access the products offered on the platform; they have to pass the KYC service, which involves the whole biometric verification process.

Optherium truly pushes new standards on the cryptocurrency market, providing financial institutions and businesses with working tools, allowing them to not only store crypto assets securely, but use a payment ecosystem that is capable of more than 100,000 transactions a second. The ITO has already been launched, with registration for the whitelist sale starting from October 5th.

Optherium has already successfully raised $3,000,000 on a seed round, most of which was put straight back into the development of the product. The project has already become a member of the Linux Foundation and Hyperledger.

Currently, the Optherium Ecosystem can be considered as one of the most secure and technologically advanced on the market. In the next couple of years, the Ecosystem will be implemented globally across different B2B companies, taking the financial industry to a whole new level.

The post Optherium: A New Era of Global Finance appeared first on CryptoPotato.

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Goldman Sachs and Mike Novogratz Make Huge Investment in Crypto Custodian BitGo

Wall Street Goldman Sachs emerged as the lead invertor of the $58 million Series B funding round in crypto custodian BitGo. Post this Series B funding round, BitGo has managed to raise a total of over $70 million. This funding also saw participation from Galaxy Digital Ventures, a cryptocurrency fund founded by hedge-fund titan Mike Novogratz. According to the report from Bloomberg, Galaxy Digital and Goldman Sachs together invested a total of $15 million.

The investments coming from two big institutions will further help BitGo to attract wealthy investors and big institutions to adopt its custodian solutions. In an interview with Bloomberg, BitGo co-founder and CEO talked about conquering the existing fears of crypto investments.

“If you were investing in any other asset class, you’re probably not worried about the asset just disappearing — but this one, people still have that fear,” said Belshe.

Last month itself, BitGo received a regulatory approval from to offer qualified cryptocurrency custody solutions. BitGo ensures a higher safety for its investor’s through its security, compliance, and custodial solutions. Found back in 2013, BitGo has established good relations with several cryptocurrency exchanges across the globe.

Currently, the crypto custodian claims to secure more than $2 billion of customer assets in wallets. With the recent funding boost from the Wall Street giants, BitGo is now targetting $1 trillion in assets.

Mike Belshe, CEO, BitGo, says:

“No one is better positioned than BitGo to serve institutional investors who want to trade cryptocurrencies and digital assets. That’s why we’re focused on figuring out what it takes to secure a trillion dollars. The market’s not there yet but our job is to be ready first.”

Goldman Sachs’ Involvement in the Crypto Market

Wall Street giant Goldman Sachs has a huge affinity for crypto markets since long. The banking giant is well-known for supporting popular cryptocurrency exchange like Circle. Goldman Sachs recently invested in a Google-backed Bitcoin payments platform Veem.  Furthermore, it was the first Wall Street bank to clear Bitcoin Futures launched last year.

Goldman Sachs spokesman Michael DuVally believes that safe and secure custody solutions are the current demand of the crypto market. Additionally, Rana Yared, a managing director of Goldman Sachs’ Principal Strategic Investments group, expressed optimism on the company’s latest investment in BitGo.

“Greater institutional participation in the digital asset markets requires secure and regulated custody solutions,. We are impressed by BitGo’s product, unique services, and the management team. We view our investment in BitGo as an exciting opportunity to contribute to the evolution of this critical market infrastructure.”

Earlier this week, financial service giant Fidelity Investments also announced to launch an institutional grade trading platform and custodian solution. The company is likely to start these services in next year, 2019.

The post Goldman Sachs and Mike Novogratz Make Huge Investment in Crypto Custodian BitGo appeared first on CoinSpeaker.

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Cardano Price Analysis: ADA/USD Trends of August 19-25, 2018

Key Highlights

  • There are possibilities for further downtrend;
  • Cardano price may continue its bullish movement;
  • traders should look out for buy stops to initiate long trades.

ADA/USD Price Long-term Trend: Bearish

Supply Zones: $0.080, $0.088, $0.094
Demand Zones: $0.075, $0.071, $0.065Cardano was bullish in its long-term outlook. On October 11, Cardano price reached the lower accumulation level of $0.071 by the strong pressure of the bears but could not break down the accumulation zone. It then consolidated for three days.

On October 15, the bulls enter the market with high momentum and pushed the pair to the north with the formation of massive bullish candle that broke the supply zones of $0.080 and $0.088 and exposed the supply zone of $0.094. The continuation of uptrend movement was rejected by the bears’ strong momentum and the price was pushed to the demand zone of $0.075.

Cardano price continued its bullish movement in its long-term outlook towards the supply zone of $0.080. Currently, there is a rejection of the pair at the supply zone of $0.080 and the pair is returning to its previous low. In case the price falls to its previous low of $0.071 and it bounces, traders should look out for buy stops to initiate long trades.

The price is below 4-day EMA and the 50-day EMA which indicates that the price is falling. RSI is below the 50-level pointing towards the south indicates that there are possibilities for further downward movement.

ADA/USD Medium-term Trend: Bearish

On the 4-H chart, ADA was bullish last week. The Cardano price broke the supply zone of $0.076 to the upside, which led to a further increase in price towards the supply zone of $0.080. The price was rejected at this zone and falling towards the demand zone of $0.075.

10-day EMA has crossed the 50-day EMA downside and the price is below 10-day EMA and 50-day EMA which indicates downtrend is ongoing.

In case the demand zone of $0.075 holds, the Cardano price will bounce to the north and break the strong supply zone of $0.080, ADA will resume its uptrend movement towards the supply zone of $0.088.

The post Cardano Price Analysis: ADA/USD Trends of August 19-25, 2018 appeared first on CoinSpeaker.