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MasterCard Publishes Patent To Speed Up Blockchain Node Activation

MasterCard Publishes Patent To Speed Up Blockchain Node Activation

MasterCard has filed a patent for a system to speed up the activation of new nodes in a blockchain, in an application published by the U.S. Patent and Trademark Office (USPTO) April 26.

The application, which was first filed on October 24, 2016, outlines that the current difficulty facing new nodes –  a computer connected to the blockchain network that stores a copy of the blockchain – is that they are required to individually verify a massive amount of data in order to activate. The patent states that new nodes must verify “thousands, millions, or even billions of transaction records […] in a vast number of different blocks” that may have accumulated over time in a given blockchain, generating a significant delay before each new node can begin to participate in the network. The patent proposes a technical solution for faster navigation, in which “fast track flags” would be included in block headers, so that new nodes could scan and verify the blockchain at greater speed:
“A node in the blockchain network […] may quickly navigate the blockchain by identifying blocks that have activated fast track flags. For verification, the node may identify the earlier fast track block (e.g., based on timestamp) and hash that block […] and then verify that the fast track reference in the more recent fast track block is the same as the hash of the earlier fast track block.”
The patent also outlines the use of software specifically configured to perform querying, hashing, and signatory operations, that would further enhance system efficiency. MasterCard Labs has reportedly filed for over 30 “patents related to blockchain tech and cryptocurrency” to date. On April 12, USPTO published a MasterCard patent application for tamper-proof distributed storage of identity data on a blockchain system that would prevent abuses, such as identity fraud. In Oct. 2017, the company launched a blockchain system offering business-to-business payments, and submitted a blockchain tech patent for instant payments a month later, in Nov. 2017. Overall, the company appears to be vigorously pro-blockchain, yet anti-Bitcoin: in Oct. 2017, the company’s CEO scorned non-government issued cryptocurrencies as “junk.” This March, a senior MasterCard executive reiterated that the company is receptive to central bank-issued digital currencies only.          

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Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Litecoin, Cardano, NEO, EOS: Price Analysis, April 25

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Litecoin, Cardano, NEO, EOS: Price Analysis, April 25

The market data is provided by the HitBTC exchange.

A survey by Thomson Reuters shows that one in five financial institutions is planning to start cryptocurrency trading within the next 12 months. The survey included large banks, hedge funds and asset managers. This will probably mean a huge flood of fresh money will vie for the limited number of digital cryptocurrencies.

Goldman Sachs has already made the first move as it has hired a crypto trader, Justin Schmidt, to head its digital asset markets division. As soon as one investment bank enters this space, the others will also take the plunge.

Investor Tim Draper has said that Bitcoin is bigger than the internet, the industrial revolution, the Renaissance and the Iron Age.

The exchanges are also recognizing the need to strengthen their services. 16 exchanges in Japan registered with the government’s Financial Services Agency have formed an association, Nihon Kasotsuka Kokangyo Kyokai (Japan cryptocurrency exchange association) to impose self-regulation and improve security.

All these steps point to a market that is maturing and will offer numerous opportunities in the future. So, when the long-term picture is so good, why do we trade instead of just buy and “hodl”?

While the long-term picture is impressive, the short-term volatility remains. We attempt to use the volatility to our benefit and increase our trading capital.

BTC/USD

Bitcoin rallied close to the $10,000 mark with profit booking. We had suggested booking partial profits at $9,200 levels in our previous analysis and keeping the stops on the rest at breakeven.

BTC/USD

The cryptocurrencies are volatile by nature and tend to give up their gains very quickly. That’s why we prefer to book partial profits at resistances and trail the stops higher.

The trendline has failed to offer support. The BTC/USD pair can now slide to the 20-day EMA.

If the moving average also doesn’t show any support, the slide can extend to $8,000. Therefore, we suggest retaining the stops on the remaining position at breakeven.

Why are we not raising the stops on the complete position higher?

The moving averages have completed a bullish crossover. We anticipate some buying to happen at the $8,770 mark. If our expectation is proven correct, the virtual currency should again attempt to break out of $10,000 and rally to $12,000 levels. Therefore, we have given some wriggle room by keeping the stops at breakeven.

ETH/USD

We had been waiting for a move to $745 but Ethereum turned down from $712 on April 24. It is currently taking support at $600 levels.

ETH/USD

If the support holds, we should see another attempt to rally to $745 levels.

But, if the support zone between $600 and the trendline breaks, the ETH/USD pair can slide to the 20-day EMA.

We don’t have any positions in the cryptocurrency because we never got a low-risk entry opportunity. We shall wait for a new setup to develop to initiate any long positions.

BCH/USD

Bitcoin Cash came very close to our third target objective of $1,600 when it reached an intraday high of $1,590.7825 on April 24. We had mentioned that the digital currency has a history of vertical rallies and sharp plunges. Hopefully, the traders would have protected their gains with a trailing stop loss.

BCH/USD

The BCH/USD pair is currently taking support at the $1,200 levels. If this level holds, we should see a consolidation between $1,200 and $1,600. The next leg of the up move will commence after a break out above $1,600.

If the $1,200 level fails to stem the decline, the virtual currency can slide to the 20-day EMA at $1,000. Having closed out our position, we shall wait for a new buy setup to emerge before recommending fresh long positions.

XRP/USD

Ripple attempted to resume its up move on April 24 but failed. Along with the other cryptocurrencies it has also given up ground today. Currently, it is trying to hold the trendline support. If the support holds, we should see another attempt to rally to $1.08 levels.

XRP/USD

If the XRP/USD pair breaks below $0.78, it can slide to the 20-day EMA at $0.73. Below this, the next support is at the 50-day SMA.

The traders should have booked profits by trailing their stops higher, as advised in our previous analysis. If not, maintain the stops at breakeven on the remaining positions.

XLM/USD

Stellar attempted to break out and sustain above the $0.4 levels on three occasions but failed. It has turned down and broken below the immediate support of $0.36.

XLM/USD

It has support at the 20-day EMA; below this point, it can go down to the 50-day SMA. There is also a possibility that the XLM/USD pair can become range bound between $0.184 and $0.4.

Therefore, if the traders have not booked profits on their remaining positions using a trailing stop, we suggest keeping the stop at breakeven.

We always recommend booking profits at regular intervals and using a trailing stop loss because cryptocurrencies turn down sharply and take away all the paper gains.

LTC/USD

Litecoin is facing selling at higher levels. It broke out of the $160 levels on April 24 and triggered our buy levels proposed in the previous analysis. However, just a day after the breakout, it has plunged.

LTC/USD

If the LTC/USD pair does not find support at the downtrend line, the moving averages, and the horizontal support at $141.026, it will become negative and can even slide to $115 levels.

Therefore, we recommend retaining the stop loss at $140.

If either of the above-mentioned support levels hold, we might see another attempt to break out of $160.

ADA/BTC

The consolidation in Cardano has resolved on the downside. It has turned down from the 0.000035 levels after failing to break out of it for eight days. It has broken below the critical level of 0.00003 and now has support at the 20-day EMA.

ADA/BTC

If the ADA/BTC pair bounces off the 20-day EMA, it will again attempt to break out of the overhead resistance. The next leg of the rally will start once the digital currency breaks out and sustains above the overhead resistance.

If the support at the 20-day EMA breaks, the digital currency can decline to the 50-day SMA and get into a range.

We hope most traders would have closed their positions using a trailing stop. If not, we suggest keeping the stops at breakeven.

NEO/USD

NEO has not been performing according to our expectation. It continues to face stiff resistance at the $80 levels.

NEO/USD

Though the NEO/USD pair broke out of the $80 levels on April 24, it could not sustain it. Prices are currently back below $80 once again. This shows a lack of buying and profit booking at higher levels.

We suggest retaining the stop loss on the remaining position at breakeven. If the digital currency bounces off the moving averages, it will again attempt to break out of $80. Our targets are $94 and $140.

EOS/USD

EOS continued its bullish move and surpassed our target objective of $13. Though we expected it to face stiff resistance at $14, it touched an intraday high of $16.1460 levels on April 24.

EOS/USD

We had suggested to trail the stops higher in our previous analysis. Hopefully, traders would have booked profits on their positions.

We anticipate strong resistance at the $16 levels. This is the same level from where the EOS/USDpair had returned in January. Therefore, we might see a few days of consolidation. A breakout above the January 13 intraday high of $18.67 will be a positive development and can extend the up move further.

We shall wait for a new setup to form before suggesting any new trade.

     

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China: IT Ministry To Create Committee For Blockchain Standards, Domestic And International

China: IT Ministry To Create Committee For Blockchain Standards, Domestic And International

The Chinese Ministry of Industry and Information Technology (CMIIT) has published a list of objectives to encourage the development and standardization of the technology sector, including Blockchainaccording to a document released March 23.

The document begins with an objective to “promote the establishment of […] the National Blockchain Distributed Accounting Technology Standardization Committee” and further states that the committee will recommend standards “in Blockchain reference architectures, data format specification, interoperability, and smart contracts.” The document also states that the new Committee will promote the creation and submission of standards “going out”, i.e. participating in the establishment of international standards in Blockchain technology. CMIIT issued another announcement on March 23 stating that the day before, it concluded a forum exploring the use of Blockchain technology in China’s industrial sector. The press release says that CMIIT will continue to explore the topic. Earlier in March, Cointelegraph reported that the government-backed Investment Association of China (IAC) is planning to create a Blockchain Investment Development Center. According a leaked document, the Blockchain innovation plan involves linking domestic and international resources, as well as investing in Chinese Blockchain projects, attracting foreign investment, and leading international Blockchain forums. According to one Chinese official referring to this document, an international Blockchain summit may be held in China in May 2018. While the Chinese government has taken a hard line against cryptocurrencies, it appears to be embracing the underlying Blockchain technology. The Bank of China filed a patent in February 2018 for a scaling solution of Blockchain technology systems, while China’s top online retailer, JD.com, announced the launch of a startup incubator to attract foreign Blockchain projects.        

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Western Union Confirms Testing Ripple Technology For Money Transfers

Western Union Confirms Testing Ripple Technology For Money Transfers

The financial services provider Western Union (WU) is testing transactions with the use of Ripple’s(XRP) Blockchain-based settlement system, the company’s Chief Financial Officer Raj Agrawal said in an interview with Bloomberg Feb. 14.

The globally known money transfer company Western Union confirmed that it is testing Ripple following more than a month of rumor-fuelled speculation that began in early January. The announcement comes after Western Union reported its 2017 results, claiming a revenue of $1.4 bln - a 5 percent increase over the previous year. As Ripple’s CEO Brad Garlinghouse told Bloomberg, WU has decided to look into their platform in order to facilitate money transfers, particularly cross-border ones. Garlinghouse explained their choice by claiming that Ripple allows for transactions that are “a thousand times faster and a thousand times cheaper than Bitcoin’s.” According to Bloomberg, Western Union’s Chief Executive Officer Hikmet Ersek also confirmed that testing is taking place during a conference call Tuesday, Feb. 13. “We are looking especially in the processing settlement and working capital optimization, also in the regulation part, on the compliance part on the blockchain capabilities,” Ersek said, adding “we do have some tests with Ripple.” Ripple (XRP) is a Blockchain-based settlement protocol and a cryptocurrency that has reached almost half of Bitcoin’s market capitalization in early January 2018, when its price rallied to over $3.00 per coin. By the middle of January, however, the XRP price has bounced back to a little over $1.00. Wednesday, Feb. 14, Cointelegraph reported on a partnership signed between Ripple and the Saudi Arabian Monetary Authority (SAMA) to provide the technology for cross-border payments to banks in the Kingdom of Saudi Arabia (KSA).        

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European Central Bank to Discuss Bitcoin and Blockchain With Youth

European Central Bank to Discuss Bitcoin and Blockchain With Youth

One of the three major questions that the President of the European Central Bank will be answering via a series of videos on Feb. 12, 2018 is about cryptocurrencies and Blockchain.

Mario Draghi will respond to the selected questions, whether Bitcoin offers a viable alternative to traditional currencies as well as comment on the ECB's view on its technology, provided they are submitted by Tuesday, Jan. 23, 2018. Europeans aged between 16 and 35 can also ask questions around three main topics: possibility of a new global economic crisis, cryptocurrencies and Blockchain, Europe’s economic recovery and youth unemployment

The session is part of the ECB’s third Youth Dialogue which usually constitutes a series of talks held by the Bank’s policymakers with students and young people from different countries and backgrounds.

As a prelude to the session, the ECB has launched a Twitter opinion poll to ask if Bitcoin could offer a viable alternative to traditional currencies. The poll by Europe’s top bank has received more than 15,500 responses in about 24 hours.

Central banks and crypto

While the role of central banks in the digital currency world has always been a subject of debate, the view that they exist to help ensure stability for economies still stands. Bitcoin’s volatility has earned criticism of being a vehicle for perpetrating fraud from the likes of Lloyd Blankfein, the chief executive of the US investment bank Goldman Sachs. Luxembourg's Finance Minister, Pierre Gramegna also suggested that the European Union could soon introduce new cryptocurrency regulations.

Adoption trend

What is clear is that 2017 was a crucial year for Bitcoin. Top digital currency soared in popularity globally as its value rose sharply, while crypto gained mainstream media’s attention. Though there is no evidence, such awareness increased its adoption in Europe, available statistical data about 2017 shows that its use as an every-day payment method in main European economies is still minimal.

Crypto Q&A at the Youth Dialogue

Nevertheless, it is obvious that new information has been dropped into the public domain for many people to sort on their own. It should make the ECB’s Q&A session to be an interesting watch even if nothing new is expected. The session is coming in the wake of the recent suspension of Bitcoin-backed Visa debit cards in Europe and proposed introduction of EU-wide regulation on such currencies. It’s also worth thinking what the outcome could mean for the affected payment processors who are reportedly in talks with alternate card issuers in Europe and for those seeking to set up a crypto/fiat bank that would be independent of traditional banks.      

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EtherZero – A Revolutionary Ethereum Hard Fork, Forking on 19th Jan 2018

EtherZero – A Revolutionary Ethereum Hard Fork, Forking on 19th Jan 2018

Although there are many bitcoin fork outside, there are only few Ethereum fork on the way. The two already announced Ethereum fork had some trouble with its fork height and changes several time, which lead to a result that many trade platform’ trust has been lost. However, this time, a new Ethereum hard fork, EtherZero, wish to change the current situation , it may become the most successful Ethereum hard fork that the history has ever had. So now let’s find out together what the EtherZero really is and what on earth outstanding charateristics they have: Important things comes first:
  • Fork height: 4936270 block
  • Time: Jan 19th 2018 GMT 19:00-21:00
  • Allocation: Total supply is about 116 million ETZ
  • Each ETH distributes 1 ETZ
  • Reserve 20 million ETZ for subsequent development
  • Newly increased: about 6 million ETZ per year (about 5% inflation and declining year by year)

About the team

Currently EtherZero team is made up by 20 people, these people are from different country, also we are cooperating with many famous DAPP development workshops from India and East Europe, most of our team member are professional DAPP developers, although we are not famous for now, the techniques are no questioning here.

Innovation point

  1. 0  TX fee, meet any requirement of DAPP’ s development, arrangement and operation;
  2. Masternode system;
  3. Payment instantly, is suitable for more trade scene;
  4. Autonomous community governance system;
  5. Two layer network system high scalability, Allow DAPP to be used by mainstream people.
You may be curious about the masternode sytem, here is a more specific explanation of it: Our idea is to improve and stabilize the market value of ETZ, and we are trying to get ETZ's market value at 10% of the Ethereum in the short term. The masternode can benefit more cash users. We expect the initial access node to be 10 thousand ETZ, 45% of the rewards to the miners, 45% to the masternodes, and 10% to the self-governing communities. If EtherZero made its market value up to 10% of the Ethereum, the unit price would reach 70 US dollars theoretically. We welcome those who are interested to join EtherZero node system.

Developer friendly

Based on the DAPP in the Ethereum, the deployment of the ETZ chain can be completed after a few changes. The ETZ team will give a detailed technical change plan in the future.

Road map

In January 2018, the Ethernet network was released to achieve 0 transaction costs and anti DDOS attacks. In February 2018, EtherZero will complete issuing the EtherZero candy, up the online wallet, let the main line to achieve the 0 transaction cost and anti DDOS attack, dig first the EtherZero block after the fork.
  • In March 2018, the mobile wallet and the DApp application store will be released to promote the ecological development of the user.
  • In the 1 quarter of 2018, the Maternode will be successfully tested on Testnet.
  • In the 2 quarter of 2018, the Maternode will be successfully tested on Mainnet, realizing real time transactions and higher transaction concurrency (greater than 1000TPS).
  • In the 4 quarter of 2018, the Maternode optimization version will be put online, supporting tens of thousands of TPS.
  • In the 1 quarter of 2019, star DAPP application competition begin and launch a long-term developer reward program to promote the development and prosperity of the developer community.

Early investors

Dear EtherZero fans, we highly appreciate your support to make ETZ a mainstream currency and reflect enough value. We will sell up to 2 million of ETZ to the early investors at a favorable price, which will be enough to support ETZ be listed on big exchanges and bring some liquidity. If you want to support ETZ, please send me a private massage on telegram or email us support@etherzero.org. Besides, EtherZero team also warmly welcome those big merchants and board game companys who wish to cooperate. Don’t miss the chance to see how great EtherZero are!    

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