Category Archives: Application

Auto Added by WPeMatico

Hardware Wallet Sales Booming as Nano S Tops 1.3 Million Units

French crypto hardware manufacturer Ledger has now sold over 1.3 million units of its Nano S wallets, according to a recent blog on their website.

The peak sales come at a time when the demand for such devices is on an all-time high. The changing trend is quite evident by the sales numbers of Ledger Nano S as well as its rival Trezor’s recently launched Model T which has interested buyers in a long waitlist. Also, the Nano S is now available over the counter as a dutyfree item at Amsterdam’s Schiphol International Airport, such is its popularity, particularly amongst travellers.

Such wallets, promoted as being unhackable and therefore the safer way of storing coins and conducting transactions, gained some critics earlier this year when Bitfi, with a new wallet on the market, challenged anyone to hack the device.  15-year-old Saleem Rashid took on the task successfully, which resulted in BitFi withdrawing its guarantee.

CEO Eric Larchevêque claims that Ledger is planning updates to tighten the security of the hot-selling nano with “a chip designed specifically to resist highly skilled attackers and a custom OS designed specifically to protect crypto assets.”

Ledger has a clear run in the market with Trezor the only other major competitor in the sector to date. Trezor had reputed sales of 800,000 units some months ago, but this wasn’t confirmed by the company. There are others on the market, but as yet they have presented no challenge to the top two hard-wallet leaders.

Although advertised as a reliable storage option, these wallets have incurred problems in the past and Ledger has had its own issues, resulting in a temporary shut down of its Ethereum (ETH) and Ethereum Classic (ETC) infrastructures in August. The resulting outcome was that Ledger announced that there had been no hack, but a glitch that occurred due to a “side effect when [it] pushed an update to invite users to use the Ledger Live instead of the Chrome app.” A refund of any funds lost was offered to users.

The market is booming despite the occasional unit glitch, due to investors’ needs for a portable, safe way of storing their crypto with an easy recovery option, should units be lost or damaged; attributes which most of these units on the market provide.

Ledger also announced recently that it will be expanding its business into cryptocurrency custodianship, and is planning another major investment round that has already sparked interest from Google, Siemens, and Samsung, which may bring their valuation up to USD 1 billion.

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Hardware Wallet Sales Booming as Nano S Tops 1.3 Million Units appeared first on BitcoinNews.com.

Wikipedia Gets Some Competition From Co-Founder’s Blockchain Fork

Wikipedia co-founder Larry Sanger’s new blockchain based innovation could rival his world-renowned brainchild.

Speaking from this year’s Malta Delta Summit where Prime Minister Joseph Muscat was promoting blockchain technology, Sanger explained the benefits of his latest knowledge database.

Wikipedia, which grew out of a web-based encyclopedia, Nupedia and co-founded by Jimmy Wales, became the benchmark in open-source, collaborative encyclopedias. It also gained Sanger a name as a critic of his own creation. He called for more accountability and academic quality to be brought to articles which appeared on the website, leaving in 2002 and then later launching Citizendium in a quest to deliver greater accuracy and credibility.

Sanger discussed Everipedia, which forked from Wiki in 2015. Speaking at the summit he commented: “Thanks to new technology, it’s now possible to move beyond Wikipedia just as we moved beyond Britannica almost two decades ago.”

Sanger spoke of Wikipedia’s shortage of content contributors, despite it being the envy of any website with 18 billion views per month. He argued that a major issue for Wiki had been tasking 12,000 editors to check the contributions of 129,672 active writers and mentioned that an incentive scheme could encourage a higher quality work.

The forked site Everipedia will operate in a different way by rewarding contributors with its own token called “IQ” which can be traded on crypto exchanges, thereby incentivizing quality content creation. Another advantage is that the site can’t be banned by overseas governments due to its decentralized nature.

Malta’s prime minister Joseph Muscat was also speaking at the conference, suggesting that the pro-crypto government’s next target after making Malta the envy of Europe, would be the focus on AI technology, after building the strong foundations of a regulatory framework for blockchain and cryptocurrency. To blockchain developers he said of the “the next big idea”:

“We want to know how we can help and how we can make that happen.”

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Wikipedia Gets Some Competition From Co-Founder’s Blockchain Fork appeared first on BitcoinNews.com.

Sierra Leone President Welcomes New UN-Supported Blockchain ID Project

The small West African nation of Sierra Leone is to get support from the United Nations to help a non-profit startup launch a blockchain-based identification system for use in the country.

The country of some 7 million has had a difficult past and is currently trying to rebuild its economy after a decade-long civil war erupted in 1991. The war ended in 2001 after UN intervention, leaving 50,000 dead. This was more recently followed by a severe Ebola outbreak in 2014, which according to World Health Organization figures caused 3,000 deaths and recorded 10,000 cases.

A non-profit tech startup, Kiva, is to launch the blockchain ID program in Sierra Leone ahead of 85 other countries after research showed that the country only had one credit bureau covering 2,000 people, less than 1% of the population. Also, only 20% of the population were banked.

Sierra Leone’s President Maada Bio has expressed that he wants his nation to become less dependent for support on international benefactors and overseas aid. For this to happen he has asked for homemade answers to some of the nation’s problems through “visionary and innovative” solutions.

According to the UN’s Capital Development Fund executive secretary Xavier Michon, this may boost the country ahead of others in creating a better banking system for Sierra Leoneans, suggesting:

“Through this implementation, Sierra Leone is setting out to build one of the most advanced, secure credit bureaus. It could serve as a model for both developing and developed nations in the future and has the potential to radically change the landscape of financial inclusion.”

The project is aimed at providing Sierra Leoneans with personal identification tools including a personal digital wallet which will outline their entire credit history, eliminating paper, and making personal banking far more accessible to all. This will also make it far quicker for lenders to assess customers before offering credit, by being able to instantly check their credit rating.

The system is expected to roll out in the country in 2019.

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Sierra Leone President Welcomes New UN-Supported Blockchain ID Project appeared first on BitcoinNews.com.

Walmart Go Green with Blockchain-Based Produce Tracking

Walmart is flexing its DLT muscles after announcing it wants fresh produce suppliers to utilize a farm-to-store tracking system based on blockchain technology.

The company has given 100 of its suppliers fair warning that fresh produce will need to be tracked using the system developed by IBM during the next year.

Both Walmart and IBM have been at the forefront of DLT since its conception and both companies are eager to promote the use of the new technology in sectors including business and commerce. Walmart has become a primary mover in the industry in pushing blockchain forward with numerous patents pending.

Walmart filed for two more blockchain technology patents in April, one for secure payments and another for digital shopping systems. In March, it filed for a “Smart Package” blockchain patent allowing tracking of contents and environmental conditions from point of origin to delivery. That patent states that Walmart technology will record the “key addresses” along the chain and will be used with robotic delivery methods like autonomous vehicles and drones.

The multinational’s latest patent is for a smart device that, when paired with a computing system, would receive a transaction request which, once accepted, transmits a configuration instruction for the appliance to be operated by the user via one or more nodes in the network needed for validation. The patent application details how the technology could be utilized in creating an entire smart home system, including control over energy and healthcare environments.

Of the latest move to track green produce from farm to supermarket shelf, vice president of food safety Frank Yiannas cited a conventional trial using mangoes as the shipment model, commenting, “It took them nearly seven days, as the methods of tracking today are antiquated — sometimes done with pencil and paper.” Walmart maintains that with blockchain technology, that same process will take just 2.2 seconds.

The US Center for Disease Control and Prevention (CDC) consulted with Walmart over the question of product traceability due to an increase of foodborne illnesses, such as an E.coli outbreak that occurred this year affecting 200 people who needed to be hospitalized.

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Walmart Go Green with Blockchain-Based Produce Tracking appeared first on BitcoinNews.com.

Alibaba Responsible for 10% of World’s Blockchain Patent Applications

Research published by Thomas Reuters shows that Chinese multinational holding conglomerate Alibaba has filed over 10% of the total number of blockchain patent applications last year.

Of the 406 total applications in 2017, Alibaba claims 43 of them, leading China’s growing blockchain intellectual property claims. The data collected also indicates that China is responsible for 56% of applications in 2017, followed by the US with 22%, and shows that the number of blockchain patent filings has increased from just 134 in 2016, to 406 in 2017.

Last week, Alibaba’s payment subsidiary Ant Financial and Alipay revealed their latest blockchain application to ensure the authenticity of rice produced in Wuchang, in northeastern Heilongjiang Province. The project will be carried out in partnership with the municipal government.

Why are blockchain patents so important?

Alex Batteson, an editor in the IP & IT practice area at Thomson Reuters Practical Law, explained why the patent race is crucial to success as it can attract investors by ensuring a business’ intellectual property is legally protected. Batteson sees blockchain as ”the next frontier of financial services technology architecture”, and an attractor of substantial financial investment. He noted that companies are eager to protect their work first as the technology and adoption rates advance.

While China has a blanket ban on cryptocurrency trading and initial coin offering (ICO) fundraising, the country’s blockchain efforts have been significant. President Xi Jinping himself described that the technology is “substantially reshaping the global economic structure“. The US may have more blockchain patents overall but the Asian nation is quickly catching up.

Taiwan-based IP specialist and Eiger Law partner John Eastwood spoke to the Nikkei Asian Review on China’s progress, saying that it will most likely be extremely profitable for local companies to secure as much blockchain-related intellectual property rights as they can. He said, ”Holding several patents helps to give an aura of legitimacy that helps many companies in the blockchain field to attract investors or acquirers.”

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Alibaba Responsible for 10% of World’s Blockchain Patent Applications appeared first on BitcoinNews.com.

Dapps Usage Sees Sharp Decline

According to a study by crypto research publication diar, the usage of decentralized apps (Dapps) on Ethereum has been declining sharply, with users declining 56% from January 2018 to July 2018.

There are Dapps built on other platforms, but this study focuses on Ethereum Dapps, which is the most widely used platform for launching them.

Ethereum is the original blockchain and cryptocurrency used to develop Dapps and is the second cryptocurrency by rank with a market cap near USD 28 billion versus the Bitcoin market cap of USD 109 billion. Ethereum has complex and efficient smart contract technology, which is why it’s so conducive for Dapp development. However, the numbers show that they are not maintaining their user base and shriveling up over time.

This may be why Ethereum’s price has dropped to USD 270 from a high of over USD 1,300 in January 2018, combined with a strong bear market. Ethereum is declining much faster than Bitcoin, indicating that declining users account for the rest of the price drop. The more users, the more Ether is purchased to interact with Dapps, so Ethereum’s price is directly influenced by the number of people using them.

The top Dapps are actually ponzi scheme scams called Fomo3D and PoWH 3D, which have nearly 100,000 users versus the total of 325,000 users in July 2018. The study didn’t include these ponzi schemes in its data, probably because they could be considered illegal activity. If including the ponzis  then total users has only declined 38% since January.

The top 3 Dapps are decentralized exchanges, like IDEX, Fork Delta and Bancor. The userbase for these exchanges hit a peak and then dropped off sharply, perhaps showing a preference for more user-friendly centralized exchanges.

Games are another top category on Ethereum. CryptoKitties, for example, became a sensation in the crypto space when it had over 14,000 users and raised USD 12 million. Today, it only has 510 users which is a 96% drop. Decentraland has seen a similar user drop of 86%.

The drop in Dapps usage paints a bearish long-term outlook for Ethereum. However, when the next crypto rally happens, perhaps usage will rally as well. There is probably a solid connection between the state of the crypto markets and interest in Dapps.

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Image Courtesy: Pixabay

The post Dapps Usage Sees Sharp Decline appeared first on BitcoinNews.com.

Walmart Applies for Blockchain-Managed Smart Appliance Patent

US multinational retail corporation Walmart has recently applied for another blockchain-related patent, this time looking to manage the use of smart appliances via blockchain technology.

The application filed with the US Patent and Trademark Office covers the use of this tech on a number of devices, including televisions, computers, laptops and portable media players.

Patent details

The smart device paired with the computing system would receive a transaction request which, once accepted, transmits a configuration instruction for the appliance to be operated by the user via one or more nodes in the network needed for validation. The smart device holds the private key needed to authorize transactions.

Management of the device includes the ability to customize access and control in order to secure the system, with the blockchain server network utilizing an Internet of Things (IoT) ecosystem that allows multiple smart devices to be managed. The computer system would include a memory device to store the smart appliance’s usage data, as well as a processor capable of executing a variety of instructions.

The patent application details how the technology could be utilized in creating an entire smart home system, including control over energy and healthcare environments.

Walmart’s eclectic blockchain patents

The patent request was filed on 26 January following several other similar appeals from Walmart.

In June, the corporation filed an application for blockchain technology for use with life-saving medical wearables. The device would allow paramedics to gain information about a patients ailment should the individual be unconscious or unable to communicate their problem.

In another case, Walmart filed an application that would utilize blockchain in the receipt of goods at the point of delivery from autonomous ground vehicles, while allowing automated vehicles to have safe travel access. Walmart cites in the patent proposal that one-day parcels may be delivered to the company via automated vehicles that operate on blockchain technology.

 

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

Image Courtesy: Pixabay

 

The post Walmart Applies for Blockchain-Managed Smart Appliance Patent appeared first on BitcoinNews.com.

IBM, Barclays, Citi Create Blockchain App Store for Financial Services

American technology corporation IBM has teamed with banking giants including Barclays and Citi to create an app store style platform for financial blockchain services.

The LedgerConnect project aims to increase efficiency in banks’ ability to access and utilize blockchain solutions from fintech and software developers, offering services in areas of market data, know your customer (KYC) processes, collateral management and sanctions screenings. Nine financial institutions were part of the proof-of-concept of the app for use by their peers.

Trying something new

Those behind the LedgerConnect project say it will benefit users by pre-approving and certifying applications as secure to be used, potentially saving research costs for banks looking for blockchain services. Dr Lee Braine of Barclays noted that a hub such as this gives banks a chance to try something new in the area, allowing them access to the various deployment options of distributed ledgers in banking, and experience in combining infrastructure-hosted and bank-hosted nodes in the private network.

The hub itself runs on IBM’s blockchain platform, offering just Hyperledger-based applications for the time being, although the founders are looking into hosting alternative blockchain solutions, citing R3’s Corda and Quorum as viable options so long as they meet the security specifications.

A good thing for start-ups?

Should the hub find success in the sector, it will not only be beneficial for the banks using it, but also for the blockchain companies whose services are being advertised. By addressing a connectivity gap as the project says it is, the number of blockchain trials by big banks such as those the Bank of Canada has become known for may decrease, allowing smaller start-up firms to have their own solutions employed by those entities.

It could, in fact, encourage further research and applications be developed now there is an easier way for their work to be advertised and used by financial institutions.

 

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

Image Courtesy: Pixabay

The post IBM, Barclays, Citi Create Blockchain App Store for Financial Services appeared first on BitcoinNews.com.

Google Play Follows Apple’s Lead and Bans Crypto Mining Apps

Google has updated its Play Store policy which will now bar all mining apps. The latest update follows a similar move made by Apple last month.

Apple’s new guidelines stipulated:

“Apps may facilitate transactions or transmissions of cryptocurrency on an approved exchange, provided they are offered by the exchange itself. Cryptocurrency Apps may not offer currency for completing tasks, such as downloading other Apps, encouraging other users to download, posting to social networks, etc.”

Google has followed suit by no longer allowing cryptocurrency miners on the Play Store. Many are currently available on the Store including apps such as MinerGate, Crypt Miner, NeoNeonMiners and countless others. Mining extensions were already prohibited from the store earlier this year. The new policy states:

“We don’t allow apps that mine cryptocurrency on devices. We permit apps that remotely manage the mining of cryptocurrency.”

However, the ban does not take in all software involved with mining virtual cash. Both Google and Apple have said that they would allow users to design apps for managing mining being done elsewhere – such as on cloud computing platforms.

Both the moves by Apple and Google follows some negative apps-related press from a range of sources recently particular regarding crypto mining. Russian cyber security company Kaspersky Lab reported recently of a huge 44.5 percent spike in crypto jacking over the past year.

Cryptojacking is defined as the secret use of your computing device to mine cryptocurrency. The hacking occurs when the victim unknowingly installs a program on a user’s computer which secretly mines cryptocurrency.

Also another report by Skybox Security that ransomware is fat being taken over by illicit currency mining od this nature, suggesting that miners now represent 32 percent of all cyber attacks.

Google has not simply targeted cryptocurrency, as its new developer policies have also included “multiple apps with highly similar content and user experience,” targeted at repetitive content, and “apps that are created by an automated tool, wizard service, or based on templates and submitted to Google Play by the operator of that service on behalf of other persons.”

Follow BitcoinNews.com on Twitter at @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

Image Courtesy: Pixabay

The post Google Play Follows Apple’s Lead and Bans Crypto Mining Apps appeared first on BitcoinNews.com.

New Point-of-Sale Crypto Device Could Become Future of Retailing

Pundi X, a blockchain-based Point-of-Sale (POS) provider, has announced a partnership with Hong Kong group FAMA to improve retailing using cryptocurrency, writes Global Finance and Banking Review (GFBR).

The outcome of the partnership with FAMA, the organic food restaurant chain, will be a POS smart device enabling consumers to access easy purchasing using digital currency via cryptocurrency-to-fiat or crypto-to-crypto transactions.

Such solutions for mainstream consumers will simplify cryptocurrency transactions, enabling retailer outlets to install their POS devices for speedy acquisition or spending of major cryptocurrencies and could become the future for both retailers and consumers.

The Pundi X device will allow consumers access to BTC, ETH, NPXS, and other cryptocurrency using fiat money. According to GFBR, purchased cryptocurrency can be stored in the physical card wallet, or used to make cashless payments to top up phones, pay utility bills or buy goods, subject to local regulations in each market.

A promotion is currently underway in Hong Kong at four FAMA restaurants around the city: Locofama, Sohofama, SUPAFOOD and the Hive Café. Those trialing PundiX pass cards pre-charged with a pre-loaded giveaway will be able to use cryptocurrency to purchase coffee, snacks, beer or a full meal free of charge up to the value of each card using the preinstalled devices at one of the four restaurants.

Larry Tang, founder of the FAMA Group sees the POS system as a great boon for the company and the future of simple payments for services. He explained:

“Our restaurants celebrate traditional methods in our cuisine, but we also see ourselves as innovators and are pleased to be on the frontline in enabling customers to settle their bill with Bitcoin or Ether-based cryptocurrency by using a secure payment option such as the Pundi X POS.”

Pundi X co-founder and CEO Zac Cheah was equally optimistic amount the merger:

“This is the first of many partnerships that we will be setting up across Asia to encourage more widespread use of cryptocurrency in the retail economy over the longer term.”

Cheah explained that East Asian adoption of cryptocurrency was the highest in the world, but despite this, there were limited channels for spending digital currency. This was something that such devices would change, making retailing using cryptocurrency far more accessible to both seller and purchaser.

 

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

Image Courtesy: Pixabay

The post New Point-of-Sale Crypto Device Could Become Future of Retailing appeared first on BitcoinNews.com.