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April 2017

Telegram to Launch Its Telegram Open Network (TON) in October

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Telegram

Telegram

Telegram has indicated that the Telegram Open Network (TON) could launch at the end of this month. On Wednesday, in an email to TON investors, the firm indicated that the launch is on track as planned earlier.

TON Could Be Ready by October 16

The CTO of TON Labs, Mitja Goroshevsky, confirmed the information indicating that TON Labs will be responsible for running and managing the validation pool. TON Labs is a startup tasked with the responsibility of creating tools for TON developers. Investors will receive the TON key generation software, and they will have to provide Telegram with a public key for them get their Gram tokens (GRM). GRM is the native token of the platform, and investors will receive this by October 16. The source code for Telegram Open Network is currently available on Github.

Telegram has indicated that it will absolve itself from governance issues as it will not run the network. A message to investors indicates that they will have to select their validators. Neither TON Foundation nor Telegram will act as a validator after the launch of the network.

The launch of the network comes after the successful testing stage. At the beginning of last month, TON released its code, which allowed the community to test full nodes as well as validator nodes then followed by the alpha version of the GRM token wallet.

>> Ripple Launching XRP Third Party Developer Platform

TON Developed in Secrecy

The existing agreements between TON and investors require the project to launch before or on October 13. The blockchain raised around $1.7 billion at the beginning of last year, and development has been going secretly. For instance, the CEO of Telegram, Pavel Durov, has never spoken of the existence of the network publicly. The only confirmation about its existence is the registration with the US SEC of the SAFT, which features the name of the firm Telegram Group Inc., the CEO, and his brother Nikolai Durov, who is the chief architect of TON.

Last week, Telegram indicated that it is running a coding competition for the development of smart contracts using tools provided in the TON network.

Featured image: DepositPhotos © prykhodov

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Bank of England is Planing to Adopt Digital Currency

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digital currency

digital currency

It seems like the banking industry is slowly adopting cryptocurrencies. A group of central banks has come together to assess the potential pitfalls of relying on digital currency, and one of them is the Bank of England.

Central Banks Considering Idea of a Central Bank Digital Currency

The Bank of England is examining how it can adopt Bitcoin, and a delegation will be meeting other officials from various banks to review this. They will be meeting the European Central Bank, Swiss National Bank, Bank of International Settlements, the Bank of Canada, and the Sveriges Riksbank. They will pool research and any experience to consider the possibility of having a central bank digital currency.

The move by the Bank of England and other central banks comes amidst a proliferation of private digital currencies such as Bitcoin. Facebook (NASDAQ:FB) is planning to launch its digital currency, Libra, this year. However, Libra has been receiving scrutiny from central banks, which are calling for tougher regulations on Libra. As a result, some of the partners developing the digital currency have since ended association.

The idea of having a central bank electronic currency is seen as a way of helping to enhance cross border transactions and improve the payment system. Various central banks are pursuing the idea, and last month, Sweden’s central bank indicated that it was partnering with Accenture to create a test platform for a digital currency called e-krona. The bank has been exploring the idea of having its own cryptocurrency because of the decline in the use of cash in the country.

>> Square Wins US Patent for Fiat-to-Crypto Payments Network

Swiss Banks Adopting Crypto

Equally, cryptocurrency adoption among Swiss banks has been on the rise, with most bankers considering cryptocurrency as being central to the financial sector. For instance, in November last year, SEBA Bank AG opened, offering a range of services from crypto custody to fiat storage and a cryptocurrency connected debit card that can convert fiat currency to cryptocurrency.

Besides SEBA, Falcon Group is another bank that has adopted cryptocurrency after it launched a Bitcoin management service in 2017.

Featured image: DepositPhotos © Rawpixel

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A Look at Blockchain’s Pivotal Role in Securing Mobile Networks

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blockchain

blockchain

Over the years, blockchain has received a lot of coverage, although the concept of blockchain is often quite misunderstood. From a more technical perspective, blockchain is nothing more than a data structure which is used to track interactions between devices on a distributed network.

One of the best-known examples of how blockchain technology works are cryptocurrency transactions like Bitcoin. The security that blockchain technology offers makes it a positive solution for many other different industries, pretty much all where there’s data. For example, blockchain could be used to secure, retrieve, and transfer medical records, mobile communication, border control, insurance, banking, and many others.

Network security has become an increasingly complex challenge to tackle over the past few years. As cyber attackers get smarter and new ways of hacking are released, network operators are on the front line of this movement and have to continually stay one step ahead of the game to avoid a network meltdown—which, let’s face it, will put many customers at a halt. Here are a few ways that blockchain technology can be adapted and used for mobile network security.

Personal Data Protection

Recent research has identified a different approach that could allow blockchain to be used to protect the personal data of network users. Research carried out by MIT looked into creating purposes-based blockchain as an access-control moderator with the ability to offer an off-blockchain storage solution. This gives users transparency of their data as they would not be required to turn to any third-parties with their data and would always be aware of what is being collected, and more importantly, how sensitive data is being used. By implementing blockchain in this way, it could be viewed as a critical aspect of a risk mitigation strategy that mobile network operators could (and should) adopt.

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Considering the fact that most Americans are more concerned about having their sensitive data stolen as opposed to being a victim of a violent crime, adopting secure technology is of the essence.

Internal Process Security

Blockchain could be used to help secure operational and business support systems. This can be done by creating a higher level of security, typically for private and public networks. Doing this can be quite valuable for networks as it would help operators offer multiple layers of security, especially for internal, external, and hybrid users.

As the Internet-of-Things expands, there’re more devices connected and exposed to a network. Hence, having a system like this in place is more crucial now than ever before.

Roaming

Roaming is mainly associated with traveling to different countries, which changes your service provider and network. The use of blockchain technology here could help network operators simplify subscriber authenticity while users are roaming. This would help reduce the risk of unauthorized devices being used on a carrier network, but it would also help reduce the cost related to managing device roaming, which presents an attractive cost saving aspect. A blockchain structure could improve the integration and accuracy of the network in terms of billing and could reduce errors.

Although modern telecom is far from saturation, with GSMA penetration being only 63%, “the market is yet liable to multiple flaws – intermediary links, excessive expenditures and tech-lagging ” says Petr Malyukov, Irbis Network CEO (SafeCalls) and Co-Founder.

There’re already companies that offer blockchain-based mobile networks that provide anonymous connection, worldwide coverage, and enhanced security.

>> Blockchain Firm AmaZix is Tackling Crypto Scams on Telegram: Here’s How

Authentication

Blockchain technology can also be used to determine the devices that are connected to a network at any given time. This could be applied to several different services such as 4G connection, public Wi-Fi, payment methods, and could potentially be integrated into 5G networks, the use of which is expected to be utilized by 2.6 billion people in 2025.

The use of blockchain has the ability to allow networks to manage interactions between access points and various devices autonomously. This can help lower network management and transaction costs, making it possible to secure and enable micropayments amongst network interactions.

Mobile Payments

The number of consumers using their devices to make payments has increased drastically over the past few years. Blockchain technology could potentially help network operators and banks by not only reducing transaction costs but also making them more secure.

As you can see from the points above, it’s clear that blockchain technology can be used as a positive piece of technology for securing mobile networks. The fact there is a considerable need to improve network security among these businesses while reducing costs means that operators are more likely to be willing to implement blockchain technology as part of their solutions to overcome security within their networks in the coming years.

Featured image: DepositPhotos © yourg

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Coinbase Jobs Rank in LinkedIn’s Top 50 US Employers List 2019

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Coinbase jobs

Coinbase jobs

Cryptocurrency is taking over the financial world, and crypto exchanges are taking over the jobs world. Because on LinkedIn’s Top 50 US employers list for 2019, Coinbase has ranked higher than investment banking giant JPMorgan. Now, Coinbase jobs will be in higher demand than ever before.

The Perks of Coinbase Jobs

Coinbase ranked at number 35 on the list and JPMorgan listed at 44. It was the only crypto-relative company to make the list, but it’s a start.

Coinbase’s 600-strong staff cover areas of engineering, IT, and human resources roles. Employees can be paid partially or entirely in Bitcoin, whatever their preference. 40% currently allocate some portion of their salary to cryptocurrency.

Perks of working at Coinbase include some of the most unique out there. For example, employees are offered up to $5,000 a year for personal treatments such as egg-freezing—allowing women to focus on their career for a period and start a family later.

Coinbase Jobs vs JPMorgan Jobs

JPMorgan has hired predominantly across the areas of finance, engineering, and business development.

It has also invested upwards of $10.8 billion annually into a team of 50,000 technologists to prepare for the next generation of banking.

The bank is touching on cryptocurrency, however. It is developing its own stablecoin token called JPM Coin. This, according to LinkedIn, is “the first-ever cryptocurrency created by a US bank.

LinkedIn’s Job List

Parent company of Google and YouTube, Alphabet Inc took the top spot on LinkedIn’s list. Facebook and Amazon placed two and three respectively.

>> Bitcoin Price: BTC’s Sudden Spike Leaves All Puzzled

The job platform rates its US firms based on four categories: employee’s interest in the company, the company’s engagement with employees, job demand, and employee retention.

LinkedIn also publishes reports in other job-related areas. Last year it noted that the role of blockchain developer topped its list of emerging jobs with increased interest and demand skyrocketing in one year.

Are you glad to see a crypto exchange make LinkedIn’s top 50 list? Would you like a Coinbase job?

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