Concordium, has released its second Testnet with an innovative Identity Layer deployed at the protocol level. This release includes among other features, a mobile app that enables users to create, deploy and manage Identity objects using zero-knowledge proofs. CryptoMixer reintroduces anonymity by allowing online shoppers that pay using cryptocurrency through addresses that remain anonymous when the user is completing transactions. Coin mixers work by essentially collecting cryptocurrency from the people using cryptocurrency, mixing it with a giant pile of EMURGO Partners with Online Travel Agency Travala.com to Drive the Adoption of Cardano’s ADA Bitcoin and other cryptocurrencies may be predicated on decentralization, but the industry still has entities and assets that are of systemic importance.
The post If any of these 3 crypto firms collapse, a “tsunami” will ensue: analyst appeared first on CryptoSlate. Cryptocurrencies latest news and history organized by date that contains 1000000+ news archives. Click here to read what world was saying about cryptocurrencies. The University of California at San Francisco School of Medicine reportedly paid a $1.14 million ransom in cryptocurrencies to the hackers behind a ransomware attack on June 1. According to CBS San Francisco, the UCSF IT staff first detected the security incident, stating that the attack launched by NetWalker group affected “a limited number of …
COPENHAGEN, June 30, 2020 /PRNewswire/ — Concordium, has released its second Testnet with an innovative Identity Layer deployed at the protocol level. This release includes among other features, a mobile app that enables users to create, deploy and manage Identity objects using zero-knowledge proofs.
“Concordium is an upcoming public permissionless blockchain with user identification built-in at the protocol level to meet regulatory requirements. The core of our ID vision is that you can stay private but not anonymous. Compliance is on top of enterprises agenda and our blockchain will fit nicely into their product suites enabling new business models. This is why it is so important for us to invite the public to test our Identity system and stress-test our network,” Lone Fønss Schrøder, Concordium’s CEO.
Concordium’s regulatory-compliance vision becomes particularly important as global regulators are working on extending the anti-money laundering regime to include cryptocurrencies.
“Concordium’s identity layer provides a compliance-centric balance between privacy and accountability, and it solves regulatory issues related to anonymity with permissionless blockchain. Protected by zero-knowledge proofs, a user’s identity is private on-chain, however, this privacy can be revoked and their real identity revealed by trusted parties in response to a valid request from a public authority, via established legal channels. Concordium’s identity layer accommodates identity providers and anonymity revokers based in different jurisdictions around the world. As such, the Concordium Platform offers a global, multi-jurisdictional solution to the adoption of blockchain technologies across regulatory regimes.” says Torben Pryds Pedersen, Concordium’s CTO.
Besides the Identity feature, Concordium Testnet 2 provides a demo Web Wallet, a network dashboard with a block explorer, a node software in a dockerized container and tools for interacting with the container. Furthermore, users can send and receive testnet-GTU tokens and stress-test the transactions’ layer.
Concordium invites the public to join its second Testnet by baking new blocks, stress-testing the network, using the app and playing a part in the novel finalization protocol. You can join the Testnet here: https://developers.concordium.com/testnet/
For more information, visit https://www.concordium.com/
Torben Pryds Pedersen, CTO of Concordium, Beni Issembert, CMO of Concordium and Lone Fønss Schrøder, CEO of Concordium, are available for interview.
Concordium is a layer 1, public and, permissionless Proof-of-Stake-based Blockchain with a unique Identity layer at the protocol level.
Concordium’s core features solve the shortcomings of classic blockchains by introducing built-in identity management at the protocol level and zero-knowledge proofs, which are used to replace anonymity with perfect privacy.
Upon launch of its mainnet, Concordium will provide integrated high-quality user tools and extensive smart-contract layer features. This provides cutting-edge functionality and allows for programmable decentralized smart contracts capable of transferring value and information in a secure, scalable fashion, features that are particularly relevant to enterprise applications.
The project is currently undergoing testing, and it is expected that the mainnet will be launched in 2021.
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
View original content:http://www.prnewswire.com/news-releases/concordium-announces-second-public-testnet-launch-introduces-game-changing-identity-features-301085686.html
BitcoinMixer.to: Popular Bitcoin Mixer in 2020
New York, NY / ACCESSWIRE / June 30, 2020 / BitcoinMixer.to was built from ground up with inputs from the Bitcoin community. We understand our operation runs on trust and protect our reputation with the highest efforts. Our support is ready to be at your service round the clock. We are on a mission to make transactions safer and untraceable while contributing towards privacy over internet transactions.
Over time with the increased government scrutiny and unwanted invasion by phishers, users now realize that the cryptocurrency world is not as anonymous as most of them were led to believe.
A tech startup called, Bitcoin Mixer is changing all this and giving back cryptocurrency enthusiasts their security and privacy. The start-up provides a cryptocurrency mixing platform that obscures your cryptocurrency transactions, making it hard for anyone to trace your dealings. CryptoMixer reintroduces anonymity by allowing online shoppers that pay using cryptocurrency through addresses that remain anonymous when the user is completing transactions. The shoppers, as such, cannot be associated with the various addresses they use.
How Does Coin Mixing Work?
Coin mixers work by essentially collecting cryptocurrency from the people using cryptocurrency, mixing it with a giant pile of other cryptocurrencies, and then sending them smaller units of cryptocurrency to an address of their preference, with total the amount that you put in minus 1-3%. The 1-3 % is generally taken as a profit by the coin mixing company. This is how they make money.
A cryptocurrency mixer (also known as a blender) allows you to spend, store and share cryptocurrencies, without your transactional data becoming public. In short, it makes your financial transactions anonymous in the true sense. It is done by mixing your transactional data with a pool of Bitcoin data. This ensures your data is secure, you have control over your privacy, and no data can be traced back to you, as the link between the sender and the receiver is broken.
Bitcoin Tumbler: The crypto mixing solution
BitcoinMixer is a unique cryptocurrency mixer/blender that ensures your cryptocurrency becomes untraceable, and no link exists between the stakeholders. They have designed different pools of cryptocurrencies based on their sources, with variable fee percentages. This segmentation and differentiation ensure the clean mixing of the currency. The three pools include Standard Pool, Smart Pool, and Stealth Pool. It uses a “smart program code” to avoid the same currencies from reaching a user on multiple occasions.
Features of Bitcoin Smart Mixer Platform
Zero Post-Transaction Logs – BitcoinMixer platform keeps transaction logs for only as long as it needs them. The longest period that these logs can remain is 24 hours, otherwise, the platform keeps them only for as long as is necessary to complete a transaction.
Full Anonymity – The need for complete anonymity is greater in the online space, and it is only second to the information online prowlers seek. Users that mix cryptocurrency on the platform does not even need to input their information. Instead, only the recipient altcoin address is necessary.
Customizable Process – Users can set various parameters as they so choose. You, for instance, can choose the amount of cryptocurrency to mix, the commission to pay for the mixing, and the delay period you prefer.
The importance of privacy and security while transacting online cannot be stressed enough. It probably is the reason why platforms like CryptoMixer are timely. The advantages it offers hold the possibility of making crypto mainstream.
More details about cryptocurrency mixing and the CryptoMixer platform can be gathered through their official website https://bitcoinmixer.to/.
EMURGO Partners with Online Travel Agency Travala.com to Drive the Adoption of Cardano’s ADA
SINGAPORE, June 30, 2020 /PRNewswire/ — EMURGO Ptd. Ltd. – EMURGO, a global blockchain solutions provider & a founding entity of the Cardano protocol, announces its partnership with Online Travel Agency (OTA) Travala.com – the world’s leading blockchain-based travel booking platform trusted by customers worldwide. This partnership will enable travelers to easily book hotels & travel accommodations worldwide using Cardano’s native cryptocurrency ADA on Travala.com’s online platform. As the official travel partner of EMURGO, Cardano ADA users will also receive 10% cashback for all hotel bookings made with ADA until July 31.
This partnership will be an additional, substantial step forward with regards to EMURGO’s mission to drive the adoption of ADA, as economies reopen and travel restrictions are lifted. This will further provide value to the core ADA community, as well as the larger cryptocurrency communities.
Through Travala.com’s existing partnership with digital travel company Booking.com to integrate accommodations listings, Travala.com currently offers 2,000,000+ bookable properties across 90,000 worldwide destinations in 230 countries and territories, at competitive prices up to 40% cheaper than mainstream travel booking platforms.
Travala.com users are able to seamlessly pay for their travel bookings with Cardano ADA in addition to 28 other accepted cryptocurrencies and traditional online payments.
“As global travel begins to gradually resume, EMURGO is excited to partner with Travala.com to bring functional utility to Cardao ADA users. Being able to book flights, hotels, and other travel accommodations with ADA at over 2 million properties in 90,000 international destinations demonstrates EMURGO’s focus to drive real-world Cardano adoption,” said EMURGO CEO Ken Kodama.
“We’re extremely excited to partner with an industry titan to boost ADA adoption. Travel is the ideal venue for mass adoption of cryptocurrencies and as we all start to travel again, Travala.com will continue to provide a frictionless travel booking experience to anyone, anywhere,” said Juan Otero, Travala.com CEO.
According to recent data provided by Travala.com, 60% of all bookings on the platform in the last twelve months have been paid in cryptocurrencies. Over the past six weeks, there have been more than 20% week-over-week growth in total bookings, pointing towards a gradual recovery in the travel industry from the global COVID-19 pandemic. The most booked travel destinations with cryptocurrency payments to date have been the U.S., Thailand, and Australia.
EMURGO is a global blockchain technology company providing solutions for developers, startups, enterprises and governments. EMURGO develops enterprise-grade applications, builds developer tools, invests in startups, and provides blockchain education.
EMURGO has offices and manages projects in Singapore, Japan, the USA, India, and Indonesia. EMURGO is a founding member of the Cardano protocol. To connect and learn more, visit https://emurgo.io.
For further information from EMURGO
Chief Marketing Officer
+65 8648 1576
Founded in 2017, Travala.com is the leading cryptocurrency-friendly travel booking service with 2,000,000+ properties in 230 countries and 600 airlines globally. Backed by industry-giant Binance, Travala.com is a champion of cryptocurrency adoption, accepting over 28 leading cryptocurrencies in addition to traditional payment methods. The Travala.com value proposition is bolstered by AVA. As the native cryptocurrency of the platform, AVA can be used for payments, receiving loyalty rewards, discounts and bonuses, among several other use cases. For more information, visit www.travala.com
For further information from Travala.com
Chief Marketing Officer
+852 8191 5752
View original content to download multimedia:http://www.prnewswire.com/news-releases/emurgo-partners-with-online-travel-agency-travalacom-to-drive-the-adoption-of-cardanos-ada-301085616.html
[ Back To TMCnet.com’s Homepage ]
If any of these 3 crypto firms collapse, a “tsunami” will ensue: analyst
Bitcoin and other cryptocurrencies may be predicated on decentralization, but the industry still has entities and assets that are of systemic importance.
According to an ex-Messari executive and analyst in the space, there are three companies that, “if something catastrophic happened to them today, would cause a tsunami in crypto markets.”
These companies aren’t exchanges but three firms that act as the ‘Wall Street’ and ‘Federal Reserve’ of the crypto industry, so to say.
3 companies that, if something catastrophic happened to them today, would cause a tsunami in crypto markets:
– Silvergate: crypto banking
– Tether: reserve currency of crypto
– Genesis: primary venue of liquidity for crypto loans
— Qiao Wang (@QWQiao) June 28, 2020
This is a breakdown of each company/service, their importance, and the potential impact on the market if “something catastrophic” were to happen.
Due to the nascency of crypto and blockchain, many Wall Street banks are hesitant to serve companies, especially if they actively deal with Bitcoin.
Enter Silvergate, a publicly-listed bank that is focused on being “as innovative as the entrepreneurs” they serve. The company has existed since 1988 but has largely pivoted to offering financial services to the digital currency industry
Silvergate clients include Bitstamp, Paxos, BlockTower Capital, Polychain Capital, amongst hundreds of others.
Notably, Silvergate may be becoming less important to this space as time goes on.
The systemic risk in Silvergate’s theoretical collapse is that a majority of the most recognizable crypto firms (exchanges, blockchain foundations, etc.) may be unable to operate with banking services, especially when it may be hard to get services through other banks.
JPMorgan was revealed last month to be offering banking services to Coinbase and Gemini. This could mark the start of the end of the tacit “crypto ban” enforced by Wall Street banks:
Galaxy Digital’s Michael Novogratz noted:
“The JPM announcement that they will provide banking services to Coinbase and Gemini is…recognition that the future will include crypto currencies, digital assets, and blockchain based systems.”
Each financial market has a reserve currency. In most cases, like with American equities and commodities, that reserve currency is the U.S. dollar.
Funnily enough, it’s somewhat of the same for the crypto market. That’s to say, Bitcoin is becoming increasingly less like the reserve currency of all cryptocurrencies.
Due to it being widely adopted by exchanges and service providers, Tether’s USDT has quickly become a reserve currency for the market.
Data suggests that Bitcoin has $16 billion in volume in the past 24 hours while USDT touts $18 billion in daily volume — a small difference, sure, but one that becomes more pronounced on other days.
Even in terms of on-chain volumes, blockchain analytics firms have come out with reports indicating that there is now more value transacted through stablecoins (mainly USDT) than through Ethereum.
USDT’s importance is derived from the crypto asset being pegged to the U.S. dollar by reserves. Because it’s “stable,” it is used by traders and institutions in the space that value that stability.
When you want to “cash-out” of Bitcoin, Ethereum, or altcoins but want to easily be able to buy back in, you buy USDT or another stablecoin. If one wants to benefit from the speed, borderless, and digital nature of blockchain transactions but avoid volatility, stablecoins are a good bet.
Over recent months, USDT has begun to wield even more influence, with its market cap now nearing $10 billion.
No one really knows what would happen if Tether, but USDT disappearing would mean the loss of the most important asset in crypto.
Finally, Genesis. Genesis is an institutional digital currency lender, which also offers over-the-counter trading services through an affiliated company.
By offering crypto loans, the company serves market-makers, speculators/traders, and firms that need money to expand or need capital for other uses.
The company’s client list isn’t known yet as of the end of Q1, it reported $6 billion in originations, making it the ostensible leader in its market segment.
Its theoretical collapse would decrease the availability of capital to the aforementioned groups of firms.
The post If any of these 3 crypto firms collapse, a “tsunami” will ensue: analyst appeared first on CryptoSlate.
Author: By TeamMMG
Cryptocurrencies archive news by date
California University Pays Million-Dollar Crypto Ransom
The University of California at San Francisco School of Medicine reportedly paid a $1.14 million ransom in cryptocurrencies to the hackers behind a ransomware attack on June 1.
According to CBS San Francisco, the UCSF IT staff first detected the security incident, stating that the attack launched by NetWalker group affected “a limited number of servers in the School of Medicine.”
Although the areas were isolated by experts from the internal network, the hackers left the servers inaccessible and managed to deploy the ransomware successfully. A statement published by the University of California said:
“The data that was encrypted is important to some of the academic work we pursue as a university serving the public good. […] We, therefore, made the difficult decision to pay some portion of the ransom, approximately $1.14 million, to the individuals behind the malware attack in exchange for a tool to unlock the encrypted data and the return of the data they obtained.”
BBC News revealed that a covert negotiation between the UCSF officials and the gang took place, but didn’t end successfully.
University’s officials first asked to reduce the ransom payment amount to $780,000, but the hackers rejected the offer, stating that, if they accepted the reduced amount, it’s like they have “worked for nothing.”
Netwalker then warned that they will only accept $1.5 million, and “everyone will sleep well.” Hours later, the UCSF staff asked for the steps to follow to send the payment and put a final offer of $1,140,895, which was accepted by the hackers.
The University’s staff then proceeded to send 116.4 Bitcoin (BTC) the next day to the ransomers’ wallets and received the decryption software.
Speaking with Cointelegraph, Brett Callow, a threat analyst and ransomware expert at malware lab Emsisoft, commented:
“While public and private sector entities in the U.S., Europe and Australasia are the most common targets for ransomware groups, entities in other countries are frequently targeted too. And as ransomware attacks are now data breaches, the risks associated with these incidents are greater than ever — both to the targeted organizations and to their customers and business partners.”
Callow adds that companies can minimize the likelihood of being successfully attacked by “adhering to security best practices — locking down RDP, using multi-factor authentication everywhere it can be used, disabling PowerShell when not needed, etc.”
In early June, Cointelegraph reported that the NetWalker ransomware gang had attacked Michigan State University. The group threatened to leak students’ records and financial documents. At the time, university officials said that they will not pay the ransom.