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Telegram Charges Ahead with Gram Cryptocurrency

Telegram appears to be moving forward with
its own cryptocurrency. The company has told investors that it plans to launch
its first group of crypto coins within the next couple of months. Additionally,
the company is also providing Gram digital wallets to all the current users of
the Telegram messaging application. This totals nearly 300-global users.
Telegram has plans to make the new Gram crypto currency the digital currency of
choice and the way to move money anywhere in the world.

Who is Telegram?

Telegram is a messaging app that focuses on
security and speed.  Telegram is
available on all devices at the same time, so your messages sync seamlessly
across any number of your phones, tablets or computers. You can send messages,
photos, videos and files of any type as well as create groups for up to 200,000
people. You can also generate channels for broadcasting to unlimited audiences.
Telegram is like SMS and email combined. The company was created by Pavel Durov,
who fled Russia after clashing with the government. Mr. Durov now moves between
offices in the Middle East and Europe.

What Plans Does Telegram Have for its
Crypto Coin?

The scope of Telegram’s ambitions became
clear in 2018 when it raised $1.7 billion from some of the largest venture
capital firms in Silicon Valley. The goal initially was to launch a new crypto
currency that could be used on the telegram application. Unlike Facebook, which
released public plans for its digital money long before the first token was
ready, Telegram has largely proceeded in secrecy.

How Have Regulators Reacted?

Regulators appear to be concerned that
coins like Gram and Libra could, like Bitcoin before them, be useful to drug
dealers and money launderers. There is little regulation on crypto currency,
and authorities are concerned with any operation that has a platform to launch
a coin. The authorities in the United States have already moved to shut down
smaller cryptocurrency projects. The Telegram app makes it easy to send
encrypted messages between phones. While this is very attractive to
cryptocurrency operators it also makes the app popular both with terrorists and
with government dissidents.

How Will the Coin Function?

The New
York Times reports that the company has reviewed the pitch deck for the
Gram digital currency. The prospectus says that Telegram’s new digital money
will operate with a decentralized structure similar to Bitcoin. Similar to
bitcoin and Litecoin, Telegram releases the coins, it has said the coins will
be governed by a decentralized network of computers that will give Telegram no
control over the future value of these coins. Security researchers raised
concerns about the coin because of security problems Telegram, or problems the
company has had in the past. Telegram promised in legal documents that it would
deliver Grams to investors by October 31, 2019 or give back the money.

While many investors have agreed to a
holding period once the coin is launched, some people will immediately be able to trade crypto currency
on exchanges and exit their positions.

You Can Now Prove a Whole Blockchain With One Math Problem – Really

According to Electric Coin Company research, you can prove the whole bitcoin blockchain in less space than a bitcoin blockhead, only 80-bytes of data.

The Electric Coin Company (ECC) says it discovered a new way to scale blockchains with “recursive proof composition,” a proof to verify the entirety of a blockchain in one function. For the ECC and zcash, the new project, Halo, may hold the key to privacy at scale.

A privacy coin based on zero-knowledge proofs, referred to as zk-SNARKs, zcash’s current underlying protocol relies on “trusted setups.” These mathematical parameters were used twice in zcash’s short history: upon its launch in 2016 and first large protocol change, Sapling, in 2018.

Zcash masks transations through zk-SNARKs but the creation of initial parameters remains an issue. By not destroying a transaction’s mathematical foundation – the trusted setup – the holder can produce forged zcash.

Related: As Crypto Markets Go Cold, Who Will Pay for Open-Source Code?

Moreover, the elaborate ‘ceremonies‘ the zcash community undergoes to create the trusted setups are expensive and a weak point for the entire system. The reliance on trusted setups with zk-SNARKs was well known even before zcash’s debut in 2016. While other research failed to close the gap, recursive proofs make trusted setups a thing of the past, the ECC claims.

Source: https://finance.yahoo.com/news/now-prove-whole-blockchain-one-103047006.html

Chainlink (LINK): Token That Has Been Doing Exceptionally Well Recently

Chainlink (LINK), a decentralized oracle service that connects smart contracts with data from the real world is doing a roaring trade from the past seven days. Chainlink is trading at $1.32 USD with 18.12% change as of writing this article on May 22, 2019.

Chainlink in last seven days

Courtesy: CoinMarketCap

What exactly is Chainlink Network?

The Chainlink Network provides reliable tamper-proof inputs and outputs for complex smart contracts on any blockchain. The Chainlink allows blockchain to access data outside their network using oracles that serve as data feeds in smart contracts.

External data provided by oracles trigger the execution of smart contracts upon fulfillment of pre-defined conditions. Participants on the Chainlink network are incentivized in the form of rewards to provide smart contracts with access to external data feeds.

The decentralized oracle network of Chainlink is as secure as smart contracts themselves. Chainlink removes a single point of failure and maintains the security, reliability, and trustworthiness; of a smart contract by enabling multiple Chainlinks for the evaluation of the same data before it turns into a trigger.

ChainLink: What actually does ChainLink provide?

ChainLink gives your smart contracts verifiable secure access to data feeds, APIs, and payments.

Courtesy: https://chain.link/

Smart contracts need safe and secure middleware to connect them to the real world. But the problem is, smart contracts can’t access external resources like off-chain data and APIs on their own. The reason for this lack of interoperability is because of how consensus is reached around a blockchain’s transaction data. While the lack of external interoperability is a problem for every smart contract network, centralized oracles are a single point of failure.

Chainlink is a highly reliable decentralized oracle network

Chainlink connects your smart contracts to the inputs and outputs it needs through a highly reliable decentralized oracle network.

What is the use of LINK Token?

The ChainLink network utilizes the LINK token to pay Chainlink Node operators for the retrieval of data from off-chain data feeds, formatting of data into blockchain readable formats, off-chain computation, and uptime guarantees they provide as operators. In order for a smart contract on networks like Ethereum to use a Chainlink node, they will need to pay their chosen Chainlink Node Operator using LINK tokens, with prices being set by the node operator based on demand for the off-chain resource their Chainlink provides, and the supply of other similar resources. The LINK token is an ERC20 token, with the additional ERC223 “transfer and call” functionality of transfer allowing tokens to be received and processed by contracts within a single transaction.

Reasons for the surging trend of LINK token

Latest Bitcoin Surge

The exceptionally well performance of LINK might be because of the latest bitcoin surge when bitcoin jumped to more than 30% of its price. 

Announcement of ChainLink Mainnet

ChainLink announced that they would be launching their mainnet on May 14th.

Courtesy: Twitter

Since, then, the price of LINK has increased by more than half relative to BTC in just seven days. Besides, the constant price increase might be due to the fact that their mainnet announcement was made at Consensus 2019.

Courtesy: CoinMarketCap

Release of a buy-signal

The 50% price jump might be because of the buy- signal on LINK, issued by a cryptocurrency investment analysis company on May 16th. The signal pumped the token by more than 18% in a few hours.

Bitcoin and Blockchain: The Tangled History of Two Tech Buzzwords

The word “blockchain” isn’t used in the bitcoin white paper, the document that started it all. So, how did the term take off as a buzzword?

Dogecoin (DOGE) – An idea for the Dogecoin community: Have Elon Musk send Doge to space

Earlier in the month, Dogecoin (DOGE) made substantial gains after Elon Musk twitted that, Dogecoin is his favorite coin. This gives an idea of how big of an impact, influential people have on crypto prices.

So,
riding on this, and the goodwill that Elon Musk has shown towards Dogecoin (DOGE),
how about lobbying for him to send Doge into space, literally? The whole thing would
be simple, put some community-donated Doge into a paper or hardware wallet, and
have it sent into space with a SpaceX rocket. Musk has tried out some even
crazier ideas in the past, such as sending a car into space, so this one shouldn’t
be difficult.

The
impact of this on Dogecoin (DOGE) would be extraordinary. When Musk sent a
Tesla into space, the whole world was watching. The world would also be
watching with excitement as the first piece of cryptocurrency, “the future of
money” makes it into space. The buzz this would create could easily push
Dogecoin (DOGE)’s value up by a huge margin. For context, Dogecoin (DOGE) shot
up in value after Musk’s announcement that he likes Doge. How much bigger would
it be, if he actually chose to put it into space? Everyone would be falling
over themselves trying to get a piece of Dogecoin (DOGE). 

On
top of that initial increase in excitement that this would create, the stature
of Dogecoin (DOGE) in the crypto community would rise. That’s because, in spite
of all the things that Dogecoin (DOGE) has achieved so far, a sizeable part of
the crypto community still regards it as a joke. This perception, like all
perceptions, has not been easy to shed off. However, this would change quickly
if a publicity stunt of this level were to take place.  It would change because people would suddenly
start associating Dogecoin (DOGE) with established companies like Tesla and SpaceX.  As perception changes, the demand for
Dogecoin would also rise. The result would be a significant increase in price,
within a very short time.

So
is this doable? It’s very much doable! Dogecoin (DOGE) has one of the most vibrant
communities in crypto.  As such, generating
enough buzz, to entice Elon Musk to do this, would not be difficult. Besides,
the community can even raise funds through a crowdfunding campaign to make it
happen.

However, even before this idea becomes a reality, Dogecoin (DOGE) still holds a lot of promise. Its usage by merchants continues to grow, and as it gets bigger, its value will continue to stabilize.

Besides, like all altcoins, it is heavily tied to Bitcoin (BTC) in terms of price movements, and the good thing is that, Bitcoin (BTC) momentum is trending upwards. Even during this Easter holiday when volumes have been relatively low, Bitcoin (BTC) continues to hold above $5200, and with this, supports the altcoins market. If Bitcoin (BTC) makes a push towards $6k, then Dogecoin and all other altcoins will rise too, by a higher margin. It’s a win for Dogecoin (DOGE) either way.

Is It Time for a Blockchain Brexit?

The U.K. is on the brink of a previously unthinkable ‘hard Brexit’ from the European Union. A solution could be found in the capabilities of blockchain.

How Lightning Makes Bitcoin Great Again (for Payments)

Lightning Labs’ Alex Bosworth talks about how the lightning network provides bitcoin’s best hope for becoming the payments network of the future.

I Got the Mark of the Beast – And It Will Hold My Bitcoin

There’s a lot of overlap between bitcoiners and body hackers. CoinDesk editor Bailey Reutzel traveled to Austin, Texas to explore that crossroads and become a bitcoin holding (literally) cyborg.

The Virtuous Circle of Market Data

The growth of data analytics is about more than extracting insights from bits and bytes – it’s about the role of markets, argues Noelle Acheson.

  • bitcoinBitcoin (BTC) $ 8,798.40 0.67%
  • ethereumEthereum (ETH) $ 186.87 1.13%
  • rippleXRP (XRP) $ 0.271952 1%
  • bitcoin-cashBitcoin Cash (BCH) $ 288.80 0.82%
  • litecoinLitecoin (LTC) $ 61.19 0.8%
  • stellarStellar (XLM) $ 0.076701 3.67%
  • cardanoCardano (ADA) $ 0.043619 1.16%
  • neoNEO (NEO) $ 12.12 8.75%
  • ethereum-classicEthereum Classic (ETC) $ 4.90 0.2%
  • 0x0x (ZRX) $ 0.301563 0.16%
  • liskLisk (LSK) $ 0.753867 0.31%
  • digibyteDigiByte (DGB) $ 0.006946 1.3%
  • siacoinSiacoin (SC) $ 0.001952 0.73%
  • wavesWaves (WAVES) $ 0.775599 0.64%
  • zilliqaZilliqa (ZIL) $ 0.005918 3.02%
  • golemGolem (GNT) $ 0.045114 0.52%
  • arkArk (ARK) $ 0.219668 3.53%
  • stratisStratis (STRAT) $ 0.305263 0.51%
  • factomFactom (FCT) $ 2.82 2.26%
  • funfairFunFair (FUN) $ 0.003808 5.49%
  • pivxPIVX (PIVX) $ 0.232195 1.62%
  • vertcoinVertcoin (VTC) $ 0.267784 1.93%
  • loom-networkLoom Network (LOOM) $ 0.022094 0.94%
  • gochainGoChain (GO) $ 0.008488 3.26%
  • viacoinViacoin (VIA) $ 0.201599 0.52%
  • stealthcoinStealth (XST) $ 0.078075 2.79%
  • okcashOKCash (OK) $ 0.028008 0.37%
  • vericoinVeriCoin (VRC) $ 0.031009 4.2%