Tag : Ethereum

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Video Application That Will Reward Users With Cryptocurrencies


There is a new token-based application that will incentivize users. It is planning to accelerate mainstream awareness and adoption throughout the cryptocurrency world.
Powering Crypto Economy Participation
A new social media app centered on video content has been released recently. Cheez has teamed up with Contentos, a blockchain project, in a bid to enable users to earn Ethereum and Bitcoin. All they have to do to earn cryptocurrency tokens is create, view, and share the content within the application.
Live.me is the mastermind behind Cheez—video-sharing app. The mobile developer has created the app which is known for the 17 second, user generated video content. There are plenty of live filters on the application—music, voice changers, and stickers.
While a lot of applications contain similar features, none of them provide the incentive that Cheez does. It allows the users to earn Bitcoin and Ethereum tokens by just doing what they already will be doing while using the application. Consumers can complete 15 different tasks daily. These tasks are anything from sharing videos to viewing and liking videos. The tasks also include uploading content to the application. For doing all of this, they will be given one of the two cryptocurrency tokens. That cryptocurrency will be the one they prefer.
The best part? There is also the “Wheel of Fortune” game. It is a daily game, based on chance, which will allow users to win additional cryptocurrency every day.
The new features on the application will not need users to go to an exchange or even bother to set up digital wallets. This means more and more users can adopt the blockchain technology integration without any problems.
The CEO and founder of Live.me, Yuki He, has said that partnering with Contentos will help the platform reward its users. They are already contributing to the Cheez community and it is only fair to give them an incentive for it. This will also introduce a lot of people to the world of blockchain technology and cryptocurrencies.
Beyond Ethereum and Bitcoin
The platform is not limiting the incentive in the form of Ethereum and Bitcoin. The users on Cheez will also have an option to choose COS tokens for their contribution to the community. The COS token is the native cryptocurrency token of the Contentos blockchain project. People can obtain these tokens for all the activities they perform as users of the platform.
They can also win these tokens while playing the “Wheel of Fortune” game on Cheez.
The platform is obviously going to encourage users to opt for the COS tokens. They will do that by allowing the COS token to be used to unlock additional features in the app. For instance, they can use the COS tokens to unlock the option of posting longer videos. They can even use them to gain more exposure to attract viewers. The aspect of direct messaging on the app can also be utilized through the token. This will create a revenue generation stream for the creators of the platform. The details on that part have not yet been released but it is something that is being worked on.
The founder and creator of Contentos, Mick Tsai, said that they are thrilled to partner with the Cheez. It allows them to introduce the cryptocurrency economy to an already thriving community of users. It is going to create a new ecosystem where creators and fans are all going to be rewarded for their role in garnering a growing community.
The goal that Contentos has is to help the creators of the platform and the fans to grow the connections on a global scale. Blockchain technology has a lot of potential, and it can be used to build stronger worldwide connections.
Contentos is partnering with Cheez to make things better for the average person. It will be an opportunity for the creators and fans to enjoy the real-world incentives of the disruptive new technology.

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State Government in Australia Invests in Tourism Crypto Startup


There has been yet another major move made by Australia in the world of blockchain. Queensland is the third most densely populated state and the second largest state in size on the continent/country. The state government of Queensland is looking forward to give a grant to a crypto based startup company that focuses on tourism. The officials from the state government believe that this move will massively help boost tourism in Queensland.
The announcement was made on Wednesday by the state government of Queensland on their official website. The announcement revealed that a grant of AUD$8.3 million will be given to 70 different companies in Queensland. The funds will be given to these companies so that they can make blockchain based innovations for the state.
The announcement particularly highlighted the startup business Travelbybit, which is in Queensland. That will be, for all intents and purposes, the headliner for this major move. It has been dubbed as the startup company that will attract more and more tourists to Central Queensland. People will be able to use cryptocurriences to make online sales of travel experiences.
Tourism is The Most Important Industry
This move by the government of Queensland is only logical. The country of Australia is planning to establish a technologically advanced government by 2025. Making major moves like this allows Queensland to align their goals with the country’s goal of moving forward.
Tourism is one of the most important industries of Queensland. TravelbyBit has come up with a very good way to make it easier for tourists to pay for their purchases. The number of businesses accepting payments through the services of this startup is increasing.
TravelbyBit is essentially a point-of-sale cryptocurrency payments application. More than three dozen local businesses, resorts, restaurants, and tour operators are using this in the Agnes Water area. This town is also being dubbed as the first digital currency town of Australia. The very welcome sign for the town has labels of different cryptocurrencies like NEM, Litecoin, Bitcoin, Bitcoin Cash, and Ethereum on it.
As of now, TravelbyBit is focusing on specific cities to introduce the system that it has. They’re making use of cryptocurrencies to make it easier for people coming into cities like Bundaberg to book their holidays. The government of Queensland is investing in the company to make it bigger. They want it to grow larger in scale and create more jobs in Queensland. It has that much potential.
The government of Queensland is going to give a grant of AUD$100,000 to this startup, which will allow the company to revamp. There will be an expansion to add more merchants to the list of over 150 already registered merchants across the country.
The startup is not just stopping there. It has been enabling several retailers at the airport in Brisbane. They are now accepting cryptocurrency payments from travelers arriving or departing from the terminals now. Brisbane airport is the third largest in the country. It is also one of the busiest.
The CEO of TravelbyBit has even announced plans to add Binance Coin. This will increase the number of cryptocurrencies being accepted by the PoS platform. The CEO, Caleb Yeoh, has stated that the funds being given to the crypto startup will be used for the purpose of development. They will grow their team further and start to accept more cryptocurrencies in the future.
The startup has big plans and all of these align with Australia’s move for a blockchain based future. The state government’s announcement is a result of major blockchain movements made by the Australian government.

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Block Collider – An Approach to a Multi-Chain Platform like No Other


Blockchain technology-based platforms and distributed networks present many innovative mechanisms that are both new and important. They have the potential to revolutionize the way all industries function. We’re seeing many applications of blockchain technology across different industries as we speak. The problem is that these platforms function within their respective walled gardens. The aspect of interoperability and platforms communicating with one another is the next logical step, which needs to be taken. That is the only way blockchain will see mass adoption throughout the world.
This is where Block Collider enters the scene. It’s a decentralized platform which operates across multiple chains. It is taking a new approach to the interoperability of blockchain networks by creating a bridge. It only makes sense that the bridging mechanism will be facilitated by its own blockchain. It will link together other blockchain-based systems to create a wholesome decentralized mechanism. This new prospect offers several advantages, which makes this approach a novel one.
What is Block Collider?
The premise for creating Block Collider is to create a true and decentralized landscape for the interaction of different blockchains. It will allow their interaction without the problem of security, stability or scalability in real-time. This is a model which will eliminate all the central points of failures we see in the landscape right now. Validators or oracles will be no longer needed. Block Collider’s philosophical and conceptual approach makes it stand out. The underlying blockchain technology cements its credibility to actually achieve the purpose. For a better understanding of their concept, the white paper talks about the Unix design philosophy.
The whole philosophy basically talks about different programs performing particular functions well. The model then connects different modules and allows seamless cooperation between them.
The most defining feature of the Internet is the fact that it allows people all over the world to connect with each other. People are able to share and exchange information without a problem. When it comes to the cryptocurrency world, the need for a model which provides a solution that is true to the spirit of the Internet cannot be stressed enough.
Block Collider basically works by capturing the immediate state of the bridged chains onto its own. Every block on the native chain will be the leading block of the bridged chain. This allows Block Collider to unify different chains. It can reference any of the valid blocks recently verified on the bridged chain. This makes Block Collider the fastest member on the whole chain. Every time a new block is mined on the bridged chain, it also gets added to the Collider blocks.
The Collider platform is then able to perform multi-chain and inter-block trading. For instance, take the example of Bitcoin. Collider users can conduct transactions with Bitcoin between the Bitcoin blockchain times. It does so by setting up its transactions on blockchains faster than Bitcoins like the Ethereum blockchain.
The result is that a Bitcoin can get exchanged between corresponding parties in the same time it takes a transaction to happen on the Ethereum network. It has come down from being a 10-minute long process to around 30 seconds which is just a fraction of the original time. This is just one of the things that Block Collider can accomplish on the network and between any bridged chains on the network.
The Massive Potential
There is a lot of potential on this new platform. Block Collider doesn’t market their platform, even though their ICO project was a huge success. Nonetheless, they are making headways into creating a whole new platform for interconnectivity and interoperability.
Security, scalability and stability are all major concerns in the cryptoverse. A platform of the likes of Block Collider can possibly provide the multi-chain solution which is direly needed in the industry.

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Stellar Becomes 6th Largest Cryptocurrency by Market Cap


We are seeing a resurgence of the world’s largest cryptocurrency, Bitcoin with a sense of vigor we saw back in its hay day. With the price at the time of writing at almost $7800 per Bitcoin unit, it seems well poised to break the $8000 mark soon. It is not good news for just Bitcoin however with Stellar performing well to see a surge of almost 30 percent in its value over the past seven days.
This move by Stellar, reputedly the younger brother of Ripple, see itself move past Litecoin as the 6th largest cryptocurrency in the world based on the market cap. Stellar now enjoys a solid place on the sixth spot among the cryptocurrencies with a market capitalization worth $5.4 billion which is comparatively much larger than Litecoin’s $4.8 billion.
There are no bitter feelings on behalf of Litecoin for Stellar as the creator of Litecoin took to twitter to congratulate Stellar on surpassing Litecoin’s market capitalization. That being said, he did continue to say that it does not make sense trying to compare the market caps of Litecoin and Stellar because of the inflated market cap of Stellar.
He believes that the metrics to decide the ranks of different cryptocurrencies is not exactly accurate. It does not reflect on decentralization nor how the market capitalization came about. He feels that cryptocurrencies of the likes of Ripple and Stellar should not even be categorized in the same rankings as mineable and proof of work cryptocurrencies like Bitcoin and Litecoin.
In the alternative rankings that Lee posted for the mineable proof of work cryptocurrencies, Bitcoin retains a top position, Ethereum comes in second, Bitcoin Cash comes in at third and according to the figures that he posted, Litecoin comes in at the fourth position.
Of course, the market capitalization metrics have always been a fickle thing in the world of cryptocurrencies. The rankings by Coinmarketcap.com is based on the same market capitalization metrics and not on any other factor by default.
When you look at the history of cryptocurrencies, there was one that shot up really fast among the rankings only to crash and burn after it was revealed to be little more than a pyramid scheme. We’re talking about Bitconnect Coin.
That being said, Stellar cannot be considered the same as Bitconnect Coin as it has been making major moves in recent times. The likes of receiving certification for its platform and for the native cryptocurrency units Lumens (XLM) from the Shariyah Review Bureau are proving that Stellar is definitely something that’s here to stay.

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Binance CEO Rebukes Buterin’s Centralized Exchange Comment


Just a few days ago, Vitalik Buterin, the co-founder of Ethereum had quite the curt statement to make about the concept of centralized cryptocurrency exchanges. Needless to say, his statement caught a lot of people off guard and one of them was the CEO of one of the centralized cryptocurrency exchanges he was talking about – Changpen Zhao of Binance.

Vitalik Buterin is one of the main proponents of decentralization and he took on that role with fervor as he spearheaded the development of Ethereum, the world’s second largest cryptocurrency platform. He is a prominent programmer of Russian Canadian origins and he is very well known for all the work he has been doing in the cryptocurrency landscape.

In an interview that he was giving with TechCrunch, the cofounder of Ethereum expressed quite a bit of explicable hate towards the concept of centralized cryptocurrency exchanges by saying

“I definitely hope centralized exchanges go burn in hell as much as possible.”

As you can expect, the moment he made the statement, it blew up on the internet like all controversial things do. Social media went abuzz with the statement by Vitalik being debated here and there. It seemed like literally everybody had an opinion about Vitalik had to say for centralized cryptocurrency exchanges. This includes the likes of Changpen Zhao, the CEO of one of the world’s most well known centralized cryptocurrency exchanges.

A Bigger Heart

Changpen Zhao, or as his Twitter handle, ‘CZ’ said that he wouldn’t wish for anyone to burn in hell and that it is not a very nice thing to say even if Vitalik was saying it.

According to Zhao, everybody who has a stake in cryptocurrencies are a part of the whole cryptocurrency community. That includes the likes of centralized cryptocurrency exchanges. He believes that it is in the best interest for everybody to work together as a wholesome community rather than encouraging some form of infighting within the cryptoverse through such controversial statements.

He had a bit more to say about the matter. Zhao has a stern belief that the cryptocurrency world would not be on the same level it is right now if it was not for the advent of centralized cryptocurrency exchanges. He said:

“if it was not for fiat (and centralized) exchanges, the industry would be smaller and the industry would develop slower.”

While it is true, the growth and development of this nascent alternative economic system will lessen the need for centralized cryptocurrency exchanges as we move forward. For now, however, there definitely needs to be a more proactive approach towards moving forward as a wholesome global community.

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Mainnet Launch of Augur Seeks to Decentralize Ethereum Prediction Markets


Augur is a protocol which has been made with the aim of decentralizing the prediction marketplace on Ethereum. Resulting from a very successful Initial Coin Offering back in 2015, Augur managed to raise $5.5 million worth of Ether for the project development fund.
The ICO which began in the August of 2015, allowed the developers of Augur to successfully create the protocol’s beta version which was launched just over two years ago on the testnet of Ethereum’s blockchain network. The security audit cleared the Augur protocol during that course of time and over the past few months, developers had been hard at work to remove all the kinks and fix all the bugs in order to prepare it for the mainnet launch scheduled for the 9th of July in 2018.
Disruption of Prediction Market
The main premise for Augur is that one can easily get an adequate reading of the probability of an outcome if you are going to give the right kind of incentive to users for the knowledge that they will receive. For instance, if someone is sure that it will rain today, they will be incentivized to a certain degree to continue buying shares in that particular market until it stops profiting them.
In this way, you will be able to get a reading on the probability by formulating a market around a certain event (like the rain in this case) based on the hypothesis that the markets are efficient.
The purpose for the protocol as defined by the development team is:
“Augur’s purpose is to democratize and decentralize finance. We’ll do this by enabling anyone, anywhere, at any time in the world to create and speculate on derivatives at a low cost for the first time.”
Looking Ahead
With all the kinks worked out and a successful beta phase on the testnet, Augur is looking to improve on the platform. It will lower the platform, making it easier for adoption and it is also
focusing on increasing the speed. There are several different types of markets and currencies on the Augur Roadmap and they have even taken the initiative to integrate the 0x protocol which will allow off-chain trading using the Augur platform, thereby tackling any possible scalability issue before it even has the chance to arise. The future looks bright in the context of prediction market disruption and decentralization on the Ethereum universe with Augur protocol’s mainnet launch.

Makena Kelly / The Verge

Sources: nonprofit financial platform Stellar in talks to buy Chain, a startup building blockchain tech for the finance industry, for $500M in Stellar’s Lumens


Stellar In Talks to Acquire Blockchain Startup Chain

The cryptocurrencies, Bitcoin, Litecoin, Ethereum, Dash, Ripple and Monero represented in Hong Kong.
The cryptocurrencies, Bitcoin, Litecoin, Ethereum, Dash, Ripple and Monero represented in Hong Kong.
S3studio—Getty Images


June 20, 2018

Stellar is in talks to acquire Chain, the San Francisco-based startup building blockchain technology for the financial industry, according to people familiar with the deal. Fortune understands the sale price to be $500 million in Stellar’s digital currency Lumens.

Chain previously raised more than $43 million in venture funding from investors including Khosla Ventures, RRE Ventures, Blockchain Capital, Pantera Capital, Nasdaq, Visa, Citi Ventures, Thrive Capital, BoxGroup, and Haystack.

Chain’s backers will receive payment in the form of Lumens, which they should be able to hold or sell immediately after the transaction, Fortune understands.

Lumens were created by Stellar, a company founded in 2014 by Ripple co-founder Jed McCaleb. Stellar Lumens (XLM) is the seventh most valuable cryptocurrency with a market cap of more than $4.3 billion. This week, the cryptocurrency was approved by New York financial regulators to trade on the itBit exchange.

With funding from payments company Stripe, Stellar’s blockchain technology is now used by companies from messaging startup Kik to IBM, which use Lumens to send payments between countries in the South Pacific region.

The pairing makes sense — Stellar has the money, and Chain has the engineering talent. One source familiar with the deal said it is likely in response to the heated battle for top developers between crypto companies.

It’s still unclear how Stellar will incorporate Chain into its ecosystem, whether Chain will continue building its existing products, and whether Chain CEO Adam Ludwin will stick around. Fortune has reached out to both companies for comment.