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Decentralized VS Enterprise Blockchain or consortiums vs individuals | WCC 2019

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Decentralized VS Enterprise Blockchain

The comparison between enterprise level blockchain and a decentralized blockchain is relatively new. Maybe that is why there was more of a discussion than a debate at the Debate panel today.

Hosted and moderated by David Moss, CEO of StrongBlock, the panel consisted of Pei Chen, Director at Consensys, Kapi Attarwar, the Chief Revenue Officer and leader of Blockchain for Samsung in North America and Jordan Fried, SVP Business Development at Hedera Hashgraph.

Kicking off the discussion, all three panelists agreed on how both Enterprise and Decentralized are good on their own accord. Starting with Jordan Fried, he pointed out that Hedera, is a public network. But depending on where the use case lies, the need for any chain will be chosen. For instance, companies such as Trust Your supplier, or other such consortiums of inventory or supply chain management are all dependent on public or private chains.




Adding to this, Pei Chen says “An ideal world has both private and public network chains” This, she says includes platform protocols. Kapi Attarwar adds that by using consensus in enterprise, you can generate control over certain aspects such as inventory management etc., which samsung has been helping for companies such as Ford.

He also added how samsung, right now has two verticals in its blockchain. The first is the aforementioned private network that is for the enterprise level. The other is public chain that is based on ethereum and is focussed onto devices. He even mused about how the panel seems to defeat the purpose of debate as they all are ending up arguing with each other.

world crypto conference 2019 highlightsDavid Moss, at this point brought up a client. This client seems to have a reputation of not playing well with others, as he quotes. For this, he says, the choice of enterprise vs public chain is purely use case dependent.   

Speaking of use cases, Jordan Fried brings up a beautiful point as to how use cases vary within a single point. For instance, when we are pointing towards the supply chain or any device management of a particular machinery, you want it to be on a private chain for you to keep track of it. You cannot want the competition to have a peep on its depreciation. But while spinning it up, placing the machinery records or status on a public hash make it easier. 

Another example he quoted was the Telecom industry. Companies do not want to share the subscriber information hence the private chain. But they need to share the details of outgoing calls or texts ergo the public chain.

Pei Chen brings up a similar yet documentation based use case of an example of the Congo Oil refinery project. 14 of the largest banks have a consortium to validate documents of commodities. When it comes to decentralization, she quotes that “merchants pay more for transactions” hence a decentralized network decreases the charges. She also quoted the market of APIs as well.





Kapi Attawar quotes on how consensus could work brilliantly at a central level. Samsung tracks about 170000 consignments around Asia every 15 seconds through a consortium of companies. These companies can look at the status of any consignment in real time without the need to login to multiple systems.

He also brings up the instance of the Korean Group of Banks and how until 18 months ago, Korea needed customers to have individual IDs and different KYCs to make transactions on every individual bank. But the birth of the Korean Group of Banks led to centralising identities. Now with just a single identity, a customer can transact almost in any bank within the group. This gave birth to a myriad of new services.

When we talk about consensus, we often come across regulations. Closing up on their thoughts, Kapi Attarwar said that the need for regulations are imminent and this may be controversial but ” you cannot walk on a street when there is no police in sight”.

Thank you for reading this article.

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Check that App! Crypto Scammers Hit AppStore and Google Play!

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Crypto App Scam

Yes, there is an app for everything. Even for scammers.

Turns out scammers are going full app on unassuming crypto folk by launching apps on the Apple’s AppStore and Google play stores.  

One would assume that the likes of Apple and Google would have a decent scrutiny to weed out bad actors, but apparently, the size of their app stores is so big that – some fall through the crack.

What is an innocuous mistake on the company’s part could cost you your crypto savings.

Here is how the scam works

There are essentially two ways how these bad actors slip into the app stores.

Scam from the get-go

The app is created to steal crypto from the innocent folk by offering a service that looks, feels and sounds genuine.

You could even have LinkedIn profiles, developer kits, etc., to attach as much legitimacy as possible.

Sometimes, these scammers are patient. They can carry on the scam for more than a few months (and even years) to earn the trust.

Some others take the shortest route. 

For instance, Washingtonpost reported that someone created a Trezor app and one Mr. Phillipe Christodoulou assumed this to be an extension of the Trezor hardware wallet.

Philippe entered private keys in the app and saw his $600,000 worth of bitcoin savings get stolen.

Genuine app morphed into scam portal

Some apps use the indirect route of acting like a genuine app and then slowly morphs into a scamming machine. 

By the time the stories of scam get out, they will manage the reputation with some stalling techniques with fake customer support and tickets, etc.,

Once they have scammed enough people, they will rinse and repeat.

Do not save your seed on your cloud

One user got his tokens from a Trust wallet stolen. 

What scammers did first was to hack this individual’s google play store, accessed his cloud files and procured the seeds from the cloud drive.

We hear so many stories of the scams that we have written multiple articles to make you aware.

You can find them linked below…

Be careful out there. It’s a virtual wild west.

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

 

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Press Release

Royale Finance Partners with Boson Protocol Enabling Players To Purchase Real-World Items With Currency Earned In Game

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Boson Protocol Royal Finance Partnership

Game On: Royale Finance Partners with Boson Protocol Enabling Players To Purchase Real-World Items With Currency Earned In Game

Partnership will allow iGaming users to purchase real-world products in-game for the first time

Boson Protocol, the project using smart contracts to power real-world commerce, has announced a strategic partnership with Royale Finance, the cross-chain DeFi solution for the iGaming industry, paving the way for the first iGaming product to allow consumers to purchase real-world items. iGaming, an umbrella term which relates to all online betting or gambling, is a rapidly growing industry expected to be worth $100b by 2025.

Boson Protocol aims to create a decentralized commerce ecosystem and enable the autonomous exchange of digital value for physical products and services, minimizing arbitration, cost, and trust. In a major step for the dCommerce ecosystem, Boson Protocol and Royale Finance will allow players to purchase real-world items with the crypto they earn in games or have stored in their wallets without the use of off-ramp solutions. Royale Finance is a cross-chain DeFi solution for the iGaming industry that creates Web 3.0 smart-backed liquidity, allowing iGaming entrepreneurs to bootstrap innovation with the security and transparency of the blockchain.

Justin Banon, CEO and Co-Founder of Boson Protocol, said, “Our goal is for Boson Protocol to become the basic plumbing for commerce and its data on the emerging decentralised web. This partnership is a real game changer — not only are we developing and nurturing this ecosystem, we are facilitating the creation of an industry first: consumers can now purchase real-world products using the rewards they have earned in-game, without having to exchange for fiat currency. This is a major step forward for the industry, but also for the dCommerce ecosystem as a whole. ”

Giorgio Andrews, CEO of Royale Finance, said, “Centralization has stifled innovation in many sectors, most notably in the iGaming industry. However, through emerging technology such as that leveraged by Boson Protocol, we have a real chance to breathe new life into the industry. dCommerce, paired with the iGaming sector, puts control firmly in the hands of the user, allowing greater fairness and accessibility in the space. This partnership signifies an innovation that will revolutionise the way we interact with the gaming space by enabling players to purchase real-world items in game without the requirement of conversion to fiat, making cryptocurrencies just as usable in the real world as they are in our favourite virtual spaces.”

Boson Protocol is a web 3.0 primitive that acts as the foundational infrastructure to connect smart contracts with real-world commerce and its data to power the decentralized autonomous commerce revolution. Through NFT vouchers, Boson Protocol allows for future trade commitments to be tokenized, enabling enterprises, organisations, and customers to bridge the divide between digital decentralized technologies and the transfer and trade of physical goods.

This is the latest in a slew of high-profile announcements for Boson, who last month  successfully concluded its SAFT (Simple Agreement for Future Tokens) Round, having raised an additional $3 million USD in investment, as well as announcing the creation of 15 new roles, and partnerships with companies including Lead Wallet, Gather Network, and Orion Protocol.

About Boson Protocol

Boson Protocol is a foundational primitive which solves the digital to physical redemption problem to enable decentralized autonomous commerce.  Boson disrupts closed ecommerce platforms with an open, tokenized economy of things, powered by DeFi and Web3 data.

About Royale Finance

Royale Finance is a cross-chain DeFi solution that uses liquidity pools to provide funding for iGaming startups using provably fair algorithms which randomize number generation. This ensures that players cannot be cheated and are a verifiable source of truth, supporting innovation and transparency in the sector. As a double layer of security, these random number generators (RNG) are also certified by an accredited testing lab for quality assurance. Any iGaming startup must be licensed and have its provably fair RNG certified before Royale provides the liquidity. The Royale Finance ecosystem is powered by ROYA, a valueless governance token used as a  coordinating mechanism between DeFi liquidity providers within the Royale Finance stablecoin collateral pool, which disperses loans to iGaming startups. This ‘optimized liquidity’ helps seamlessly power iGaming innovation, and is the first network-driven liquidity approach to bridge DeFi with iGaming. Royale Finance is backed by Fomocraft Ventures, AU21 CapitalKyros Ventures, Vendetta Capital, and Alphabit Fund.

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Press Release

Discussions.app to Launch Reputation System Exclusively on Telos Blockchain

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telos Discussion app

Decentralized media platform Discussions.app is developing its infrastructure and reputation system on Telos, completing a full migration from EOS

LONDON –– March 2, 2021 Telos (www.telos.net), one of the most active blockchain platforms in the world according to Blocktivity and CryptoDiffer, today announced that decentralized media platform Discussions.app will be using Telos as the primary infrastructure and development platform for its Aura, a decentralized reputation system aimed to provide DApps a sense of the value of their interactions by providing an intuitive and direct way to quantify the “realness” of a user. Discussions.app will be migrating all of its core operations and content from EOS, where Discussions.app had been one of that blockchain platform’s more popular DApps.

“In the time we’ve spent working with Telos, we couldn’t ask for a more capable or engaged partner. What we are looking to do now is a full migration to Telos. This will better serve Discussions.app and our users by focusing on a well-governed, and well-operated blockchain with a clear vision of the future.” said Jacques Xu, Co-Founder of Discussions.app. “We will continue to support and honor EOS tokens on our platform, but will move our core smart-contracts on to Telos and be prepared to tap into the technical advancements to come on Telos.”

Discussions.app is a decentralized, Reddit-inspired social aggregation platform that empowers users to control their own digital identity and connections while sharing content from anywhere on the web, regardless of unilateral actions by other host platforms. Integral to Discussions.app is its new reputation system, to be built on Telos, which simplifies the process for interacting with blockchain technology and provides developers with critical data about its users.

“We are not only technically in sync with Discussions.app, but philosophically in sync as well. We are honored and excited that the Discussions.app team feels our platform has everything it needs to take the development of technologies like Aura to the next level,” said Douglas Horn, Telos Chief Architect. “We look forward to joining with other apps and platforms like Discussions.app that want and need every resource possible to build the future of the decentralized web.”

In addition to speed, capacity and zero transaction fees, Telos has many advantages over other platforms that make it the most advanced blockchain software for smart contracts and decentralized applications. Telos’ governance structure gives developers and community members control of the platform to a greater extent than any comparable blockchain, rather than a centralized entity, small groups, or individual whaled and these governance functions are made available to any Telos developers to use in their own DApps via the Telos Decide governance engine. The Telos network currently supports 10,000 transactions per second (TPS) with zero transaction fees, compared to Ethereum’s 14 TPS with fees.

The full Telos Technical Roadmap 2021 can be viewed here.

About Telos

Telos is a high-capacity network and one of the most active blockchain platforms in the world according to Blocktivity. Telos features a robust, third-generation blockchain governance system including advanced voting features and smart contracts that can be fully configured to meet the needs of any developer. Created by developers for developers, Telos extends its state-of-the-art blockchain and governance features to all DApps on its platform, delivering the best user experience in the marketplace. Telos also supports the blockchain ecosystem by serving as an incubator and accelerator for decentralized applications. For more information, please visit www.telos.net.

About Discussions.app

Discussions.app is a decentralized media platform that empowers users to control their own digital identity and connections while sharing content from anywhere on the web. The network is powered by the ATMOS token. To learn more, please visit discussions.app.

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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