Month: July 2020

JPMorgan’s startup Kadena is ready to get its first-ever listing on Bittrex. Kadena is the only company that has a hybrid blockchain. It works on both, the public blockchain as well as the private chain. This blockchain will cut off the limitations that come with both the blockchain models.

It provides the accessibility of public blockchain and at the same time maintains the privacy of a private chain. Kadena is found by ex-JPMorgan blockchain professionals Stuart Popejoy and Will Martino.

How Kadena Is Different?

The blockchain found by Kadena solves the much-hyped scalability issue of Proof of Work (PoW) networks present in the blockchain. The company did a fantastic job to shard the Proof of Work consensus of blockchain.

The main constituents of Kadena blockchain are a public chain, private chain of the company called “Kuro”, and Pact which is an open-source smart contract language. The Pact is human-readable and it can be used with Microsoft Excel programming level knowledge to create contract and publish them using the blockchain.

Bittrex is one of the popular cryptocurrency platforms around the world. Kadena token will be only available to trade on Bittrex as of now. This is the first-ever listing of JPMorgan’s subsidiaries Kadena on a crypto exchange platform.

The listing went live on June 25. The token name of Kadena is KDA on the crypto exchange. It was immediately made available to deposit in the wallet. The trading was made available on June 26 10:00 am EST.

Immediately after the launch, Kadena raised $15 million in sales through 3 tokens. In addition to it, Kadena is planning to scale its PoW blockchain network from 10 chains to 20 chains. The scaling is planned to go live on July 31.

KDA Trading Is Not Possible For People Living In The U.S. And Other Sanctioned Countries

KDA token is trading against two major digital coins, Bitcoin and Tether on Bittrex. However, there is a twist to the Kadena tokens. Bittrex Global is not available in the U.S. and other sanctioned countries.

It means KDA tokens are not being traded in the States. Bittrex is the largest crypto exchange in the world but due to limited accessibility, KDA trades is not open to the U.S., Cambodia, and Egypt.

Kadena Stepped Into Trading With A Market Value Of $13 Million

After setting a stepping stone of integrating public chain along with the private blockchain, Kadena has now its token. Kadena blockchain is one of its kind in the crypto world. It can create smart contracts and provides full transactions.

Kadena works on Proof of Work (PoW) consensus. Since its launch from November 2019, 35 million KDA tokens have made it to the circulation. The company CEO, Will Martino is expecting a total of 100 million tokens to be mined till next year. The price of one Kadena token is not decided till now.

Its price will be based on the demand and supply, said the CEO. The exact pricing details of KDA can be seen on crypto tracking websites like CoinGecko and CoinMarketCap.

There was an error in the details when the token first launched but coin history can still be seen on such tracking websites. According to the co-founder and CEO, the market cap of Kadena token is $13 million.

Kadena’s HIPPA-Compliant App Can Track COVID-19 Tests

Apart from the astounding blockchain innovation, Kadena has also introduced an app that can track virus test results. This testing application is an open-source project by the company. The decentralized COVID-19 testing application is known as dApp.

dApp is being used by medical professionals and patients to validate the testing results. It is a safe app since it is designed using decentralized technology. The results can be safely shared among doctors and patients.

The dApp is immediately available without KDA tokens on testnet. There is no need to acquire a crypto wallet to be able to use the app. By introducing new technologies Kadena is doing a lot in the blockchain field already.

You must have heard about crypto lending at least once in a lifetime unless you have been living under a rock of purely traditional finance. Crypto lending became the trend opening up opportunities for big and small crypto players, and is supplying the decentralized finance ecosystem of Ethereum to more than 1 billion USD in locked value.

Crypto Lending – the Concept

The concept of crypto lending is basically quite less complicated. The ones borrowing are capable of making the use of their crypto assets as collateral to gain a fiat or stablecoin loan. On the other hand, lenders are providing the assets needed for a loan at a settled interest rate. This can also operate in a reverse manner where the ones to borrow fiat or stablecoins as collateral for leasing crypto assets.

The best method to learn how these platforms operate is to run through the various ways in which users can join them, starting from the most basic and progressing to the most developed.

• A single platform that is helpful to check rates throughout platforms with a tracker like CoinMarketCap’s interest rate tool to detect the best returns for the asset you desire to lend.
• Non-taxable dollar-denominated liquidity
• Rate Arbitrage
• Margin leverage or trading
• Flash loans
• Liquidations

Crypto Lending – The Ultimate Killer App – Is It?

The complete credit goes to crypto lending when it comes to using digital assets to earn yields and making it plausible to borrow capital. Crypto lending is one of the most rapidly expanding sectors in the crypto ecosystem.

The application has become the fastest spreading industry in the blockchain realm. Borrowing capital using digital assets and earning yields is viable for this app. Research company Credmark has made a report that the amount of crypto-backed loans raised seven-fold in 2019, finally touching $8 billion. Many experts say theories that crypto lending will captivate more investors into the crypto trade by raising its liquidity.

The CEO of Credmark, Paul Murphy, said that you could have been lending this amazing grease that just pushes everything forward at a much quicker pace.

The Risk Involved

Borrowing and lending is a work full of risks.

• Digital currencies are highly volatile. If truth be told, a particular quantity of crypto-backed loans is utilized for margin trading operations.
• Brock Pierce, a highlighted cryptocurrency entrepreneur, had to point out that when the market drops by more than 50 percent and you are in a collateralized margin type of trade, you may lose all of your capital sums.
• While most crypto lending businesses depend on concentrated custodians to control their customers’ funds, DeFi lending platforms encourage P2P lending and borrowing operations without the interference of any middlemen.

Nonetheless, we’re in the primary stages of this technology, signifying that these platforms may pose many usability downsides.

The Future of Crypto Lending

It is important to understand that liquidations are a primary part of the crypto lending environment and critical to the system’s efficiency. Crypto works as incredible collateral for its simplicity of sale and liquidity.

Compared to a mortgage, where foreclosure and liquidation is quite a lengthy procedure, crypto liquidations take only a few seconds. With the expansion of the crypto industry, the crypto lending app will be vital in its success story.

 

 

BIGG Digital Assets Inc., who owns the Blockchain Intelligence Group, is the pioneer in the blockchain technology search. It has announced the launch of bitcoin cash in offering data analytics solutions, which is a part of QLUE Release. The version number of the release is 1.16. The QLUE supports various cryptocurrencies such as ETH, ERC20, BTC, and LTC. The bitcoin underwent many roadblocks in 2017. To overcome those hardships, it has come up with the bitcoin cash.

Some many financial institutions and investigators started showing interest in bitcoin blockchain technology and start to measure the liabilities and risks of bitcoins.

Blockchain Intelligence Group has come with a product called QLUETM that would take care of all the risks. It helps financial institutions and law enforcement agencies to trace bitcoin cash transactions. The Bitcoin cash is an addition to the cryptocurrency of QLUE. It is also having to track and tracing abilities.

QLUETM, which is the critical product of BIG, is used by many bigwigs such as law enforcement agencies, banks, cryptocurrency exchanges, ATM operators, etc. There are extensive due diligence checks that are carried out along with the security investigations to explore where the funds are coming from and what destination. The profiles of the entities are also investigated thoroughly.

QLUETM will carry out an investigation and save the regulators’ findings to submit in the court if required.

The President of BIG, Lance Morginn, stated that QLUETM is gaining massive popularity in the market for having a rich and user-friendly interface, which makes it simple for the law enforcement and compliance staff to use it. The Bitcoin cash used in QLUETM is valuable to the existing and new customers to carry out the investigations. It is increasing the revenue and market share of the crypto forensics across the globe.

BIGG strongly believes that the future of the currency would be Crypto. It will create a safe, transparent, and highly regulated environment.

BIGG is spending a considerable amount of money to attain this goal. There are two big companies that BIGG owns. These include – Blockchain Intelligence Group, and the other is the Netcoins.

QLUETM is the Blockchain-agnostic search and analytics engine that allows you to track the cryptocurrency transactions at the forensic level

Bitcoin cash

Bitcoin cash is the digital currency that was created way back in 2017, the hard fork of bitcoin. This is the alternative coin to bitcoins. The bitcoin cash is divided into two different cryptocurrencies. These include – bitcoin cash, and the other is Bitcoin SV. The bitcoin cash is the decentralized peer-to-peer network that uses blockchain to record its transactions in the ledger to maintain transparency. Every transaction is processed, verified, and stored on the ledger that no one can manipulate or attack.

Bitcoin miners create bitcoin cash. The bitcoin has come into the market to kick off the gaps in the bitcoins. The strength of the bitcoin cash can be an increase in the bitcoin market through this cash. It is created with the intent to increase the size of the block and boost the speed at which the transactions are processed. The bitcoin cash is against Litecoin. With its faster transaction speed, it helps the merchants to confirm the transactions at a jet speed. The faster transaction speed will help the bitcoin to compete with other cryptocurrency coins.

The scalability issues that were faced by bitcoins are addressed by bitcoin cash. This is an investment currency. Bitcoin could not handle the surge the processing of transactions on the blockchain technology due to the block size limit set to 1 MB. It consumes a lot of time and power bills to carry out the transactions. Bitcoin cash is the solution to reduce the processing time as it is offering the block size limit of up to 8 MB and can be extended to 32 MB.

In the past few years, the blockchain is a term widely used and heard. Many people wonder what it is and how it can be used. It is a system of managing the data in a chain form where one can have the rights to add but not modify the data. In this era, the use of technology is visible in almost every wake of life. You will be surprised to know that blockchain is drastically changing the gaming industry. In the near future, it is going to get better as more and more companies start developing games that allow cryptocurrency purchases. There are several advantages of this development. From the point of view of gamers, it will enable you to move your digital assets from one game to another without any hassles. Similarly, developers get to benefit by attracting more users into this industry.

Open communication between developers and gamers

Gaming is an important field, and many users, as well as developers, are associated with it. Usually, the developers develop a game and attract users to enjoy it by playing. In normal circumstances, the approach to develop any game is top-down, and users do not have any say in this matter. However, when the blockchain approach is followed in developing games, gamers’ ideas will also get some consideration. In this way, the entire future development becomes community-driven, and this can lead to drastic changes in gaming technology.

Easy to control fraud

As it is easy to trace the cryptocurrency movement, the entire system will become more efficient in controlling instances of fraud. In simple terms, users will have to follow proper rules with regards to making purchases, as this can be tracked at a later stage. It is essential as they can even be moved to a different platform or sold to another user in the future.

In-game purchase development

When it comes to purchasing in-game items, users are restricted as they have to deal with the currency option provided by gaming developers. However, with the implementation of blockchain technology into games, users can make in-game purchases and save them as digital assets. This will bring good demand for such games as users will now be more willing to purchase such things which will have good value in the future. Not only that, such assets will not get locked to a particular platform, and they can be moved to a different platform at a later date.

Improves transparency

The overall gaming industry will become more transparent with such development. Blockchain technology has good potential to change the entire dynamics of this industry. Users will now be able to buy various digital assets and keep them for a long duration. This will also motivate them to buy more such assets in the future. Even buyers will know that such digital assets are genuine when they are tied to cryptocurrency.

Future of gaming

The future of gaming looks exciting as blockchain has already entered this stream. Many developers are open to implementing in-game purchases with cryptocurrency options. This will improve the value of such digital assets and make them more appealing to the larger public.

In this manner, the gaming industry will see good growth, with more participation from users. People who are not gaming enthusiasts will also enter into this platform with the integration of blockchain digital assets into the games. Developers will now have more flexibility to import such digital assets from different games and use them in their own games. Overall, community participation in the gaming industry will improve by a considerable margin with this development in the industry.

 

Soon after Satoshi Nakamoto invented the Bitcoin, the criminal activities also followed his invention. Several criminal minds started to use it for illegal purposes. Along with the evolvement of cryptocurrency, the number of crimes is also raising. For instance, a man was arrested in the UK for selling drugs online. That man used cryptocurrency as a medium to illegally sell drugs.

He made a huge sum of money in exchange for drugs. But his crime could not be hidden from the sharp eyes of the UK police officer, Phil Ariss. Phil is renowned for his anti-cybercrime efforts and specialization. He arrested Paul Johnson and saved the country from another online crime.

The UK cop who arrested this man has been teaching other police officers on how to deal with crypto crimes in Leicestershire. His tactics and training are prominent outside of the UK.

A Specialized UK Cop Who Handles Crypto Crimes

The officer, Phil Ariss arrested Paul Johnson on April 18. Johnson was selling narcotics online and he made more than $2.5 million through his criminal activities. He has been jailed for more than eight years now and all of the money is recovered.

Ariss stated that digital media investors also accompanied the officers when Johnson was arrested. Along with the other officers, he recovered $375,300 worth of crypto assets from this warrant.

Leicestershire officer Phil Ariss is working as crypto police since 2016. He joined East Midlands Special Operations Unit Cybercrime Team in 2016. And since then he is actively handling cryptocurrency-related crimes. He also joined Police Chief Council’s (NPCC) program in 2018. This program also deals with cybercrimes.

According to Ariss, cryptocurrency crimes are rising every day and criminals are using Bitcoins to loot people through the web. He along with his team is training other officers to tackle crypto criminal activities.

He is even training several domestic and international authorities. This training involves specialized training to tackle crypto crimes in the respective countries.

Current Status of Crypto Scams In UK

Ariss stated that since he first joined as a police officer in 2008, there was no case of cybercrime during that time. And he even confirmed that he never thought of becoming a virtual currency specialist police officer.

Cybercrime is not just limited to illegal drugs but scammers are also stealing money through blackmailing and other frauds. These scammers remain anonymous and people fall prey to their fraud.

Although there was no case of cybercrime in the UK for many years, the past two years have been crucial for the crypto industry. In the last two years, there were 562 cases of Bitcoin-related frauds in the UK alone.

This number proves that the BTC frauds are going anywhere but decreasing. According to the crypto cop, in several cases, the digital money was recovered. So, it was a clear victory of the strategic policing to retrieve the cryptocurrency of many people.

What’s the Vision of This Officer to Protect the Digital Currency?

Cryptocurrency is exploited in more than one way by the criminals. People are getting scammed almost every day. According to some reports, the famous terrorism organizations are also using cryptocurrencies to fund their illegal motives.

Since every coin has two faces, whenever the criminals tried to exploit the market, the law enforcement was able to catch them red-handed. The advantage of handling digital fraud is the ability to track it at every step.

Ariss is clear with his vision. He wants the law to come forward and take action for such offenders. He even insists that law enforcement should take place to stop such frauds. Since cryptocurrency is being used widely, there are more chances of breach than ever.

Unlike traditional transactions, Bitcoin transactions are recorded at every step. Thus, it can help law enforcement to track the criminal. Just because it is a trackable offense, it doesn’t mean it is easy to catch the criminals for the cops. The officers have to take advanced steps to make sure every transaction is tracked closely.

Hackers and criminals are using Bitcoins to sift through from one target to another. In other words, financial privacy is at a huge risk. To save multiple innocent people, Ariss is training the officers and making them aware of cybercrimes.

The law enforcement agencies have to work along with other tech firms to trace the culprits easily. ComplyAdvantage and Elliptic are such tech firms that help the police in targeting these criminals.

The vision of the crypto cop seems in favor of cryptocurrency security. However, there is more intuitive technical measure have to come in place to protect the cyber frauds. It can be equipping existing law enforcement with the latest cryptocurrency knowledge or joining hands with tech firms that analyze the blockchain patterns to catch the criminals quickly.