aelf’s Hacker Bounty Phase 2 Kicks Off 9079

On July 16th, 2020 aelf announced their latest bounty program in which hackers will race against each other in an attempt to hack 1 million ELF tokens ($100,000 USD at time of press) in a Cross-Chain token transfer. The program demonstrates the team’s confidence in their cross-chain transfer protocol (CCTP) and the critical importance this protocol’s security will have in connecting blockchains together.

The program is co-hosted by aelf and CertiK, a blockchain security company. The co-organizers are DVP, a decentralized vulnerability platform, and SlowMist Technology, a blockchain security company. PeckShield, another blockchain security company, will be the vulnerability assessment partner. The program will be covered by dozens of leading media outlets at home and abroad and is expected to draw white hat hackers and cyber-security enthusiasts from all over the world.

The Bounty Program is about finding vulnerabilities in the Cross-Chain Transfer Protocol (CCTP), so those on the Ethereum Network or aelf will not count. During the program, users who retweet the event will also have the opportunity to share out 8888 ELF and win 52 ELF every day. Participants who are able to hack the CCTP and swap the ELF test tokens to their own account addresses during the event will be rewarded with the equivalent amount of ERC20 ELF tokens.

The amount of tokens put up for reward was decided upon by aelf’s core community as a way for aelf to hand more control to the community in decisions relating to the running and governing of the aelf ecosystem.

Earlier aelf announced the launch of the CCTP product which will allow asset transfers between multiple blockchains. One of the initial applications of this protocol will be to complete aelf’s highly anticipated Mainnet token swap via smart contract from the Ethereum network onto aelf’s Mainnet. The CCTP can be utilized by any blockchain seeking to interact with other chains and will drive adoption of blockchain applications.

The protocol has resolved one of IBC’s (Inter-Blockchain Communication) key complications in blockchains using a variety of governance consensus methods. This is achieved through the use of cross-chain existence proof, relying on the Merkle Proof mechanism.

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Brane Inc Welcomes New Advisors Wellington Advocacy and Former Ambassador Bruno Saccomani 5577

Brane Inc., a leading digital asset custodian service, announced today that Wellington Advocacy has joined its Advisory Board. Representing Wellington Advocacy is Canada’s former Ambassador to the Hashemite Kingdom of Jordan and the Republic of Iraq, RCMP Superintendent (Ret.) Bruno Saccomani.

As a member of the Advisory Board, Saccomani and Wellington Advocacy will work to establish strong relationships with law enforcement agencies who routinely seize cryptocurrency and seek the secure and safe-keeping of those assets.

“Bruno Saccomani’s keen understanding of the law enforcement landscape, together with Wellington Advocacy’s network of public officials, will support the growth of Brane Inc.,” said Nick Koolsbergen, CEO of Wellington Advocacy. “We are excited about Brane’s innovative solutions and look forward to working with them to advance the capabilities of law enforcement agencies across the country.”

Prior to serving as ambassador, Saccomani had a distinguished career spanning 28 years in the Royal Canadian Mounted Police, including serving as Officer-in-Charge of the Prime Minister’s Protection Detail Branch. In this capacity he was responsible for the strategy and tactics required to protect the Prime Minister of Canada and his family at home and abroad. Saccomani has significant experience working with law enforcement and government agencies around the world.

“There are tens of millions of dollars worth of digital assets being seized by law enforcement agencies across Canada. Brane is excited to work with Wellington Advocacy and the former Ambassador to speak to those agencies and offer our digital asset custodial services.” Adam Miron, Executive Chairman, Brane Inc.

Wellington Advocacy is a public affairs firm whose associates have decades of experience serving as senior advisors in Canada’s highest political offices, including those of former Prime Minister Stephen Harper, Premier Jason Kenney, Premier Doug Ford and former Premier Christy Clark. Led by Koolsbergen, Wellington Advocacy offers services in government relations, strategic communications and campaign strategy. Previously, Koolsergen served as Chief of Staff and Campaign Director to Alberta Premier Jason Kenney, as former Premier Christy Clark’s Chief of Staff, as Director of Issues Management to former Prime Minister Stephen Harper, and as a senior advisor to numerous federal Cabinet Ministers.

Bit Digital, Inc. Announces the First Half of Fiscal Year 2020 Financial Results 6487

Bit Digital, Inc. (Nasdaq: BTBT) (the “Company”), an emerging bitcoin mining company headquartered in New York, U.S. today announced its unaudited financial results for the six months ended June 30, 2020.

“We commenced our bitcoin mining business in February 2020. By now, our hash rate capacity reached 1,250 Peta-hash per second (“Ph/s”), and the management has determined that the Company, in terms of the operating hash rate capacity, is the first among NASDAQ listed companies in bitcoin mining industry.” said Mr. Hong Yu, the Chief Strategy Officer of the Company. “We are and we will make continuous investments in improving our hash rate capacity to keep our competitiveness in the industry.”

“The bitcoin mining business is a challenge and an opportunity to the Company. We performed comprehensive evaluation, planning and design on the new business before we got started.” said Mr. Erke Huang, the Chief Financial Officer of the Company. “For the first half 2020, we had revenue of $0.69 million from our bitcoin mining business with hash rate capacity of 310 Ph/s. With the deployment of additional miners, we expect to make a dramatic increase in revenues in the second half 2020 with our continuous investments in miners and hash rate.”

Financial Highlights for the First Half 2020

  • Revenue from bitcoin mining business was $0.69 million.
  • The number of bitcoins earned from bitcoin mining business was 74.72.
  • The number of miners was 6,004 MicroBT M21S, of which 3,429 and 2,575 miners were acquired in May and June 2020, respectively.
  • The net loss from continuing operations of $0.37 million was all from bitcoin mining business, compared to $nil for the first half 2019.
  • The net loss from discontinued operations was $3.73 million for the first half 2020, as we provided full impairment on assets for our discontinued peer-to-peer and car rental business in the PRC, compared with the net loss from discontinued operations of $6.46 million for the first half 2019.
  • The net loss was $4.10 million and the loss per share was $0.24 for the first half 2020, compared with $6.46 million and $0.43 for the same period last year.

Business developments

On April 8, 2020, we acquired the XMAX Chain Limited, a wholly owned subsidiary based in Hong Kong. In the third quarter 2020, we launched additional 16,765 units of miners in Xinjiang, Inner Mongolia and Sichuan Provinces, all in the PRC.

On September 1, 2020, we established Bit Digital USA, Inc. (“BT USA“), a wholly owned subsidiary incorporated in DelawareUnited States, through which we intend to operate bitcoin mining business with our miners in the United States. In September, we commenced trial operation with 100 units of miners under operation in TexasUnited States.

On September 17, 2020, BT USA entered into a certain agreement with Compute North LLC headquartered in Nebraska U.S. Pursuant to the service agreement, Compute North would provide bitcoin mining facilities for the colocation and managing of mining equipment of the Company’s bitcoin business which are expected to save the Company operating utilities and rent cost. Going forward, we expect more miners operating in the Unites States.

As of the date of this report, we had a total of 22,869 miners under operations. As of September 30, 2020, our hash rate reached 1,250 Ph/s. At full deployment of our 22,869 miners, our hash rate capacity reached 1,250 Ph/s, with the aggregate mining efficiency of 61.88 joules per terahash (J/TH), consuming 76 MW of power. By the report date, we have earned an aggregation of 949.51 bitcoins and recognized unaudited revenues of approximately $10.08 million.

ExCore’s sale is LIVE 6941

ExCore

ExCore Sales and Impressive Staking

ExCore is a new and rapidly growing cryptocurrency that stands to eliminate inflation. Because there is a finite supply and no new tokens will ever be released, your investment in ExCore will never significantly drop from controllable causes. Right now, ExCore is in the middle of their private sale, but will release their public sale and staking platform next week on October 21. ExCore is a company that all keen investors should keep an eye on.

Private Sale

Today (October 14), ExCore launched their private sale to their whitelisted members. The sale is ongoing and takes place on Bounce, a secure medium used for crypto transactions in presales. It currently is about 25% full, and will go on until 10/17 or until the hard cap of $100,000 is reached.

You can participate via this link: https://bounce.finance/join/swap/3669 and this PASSWORD: excore2020

There are guides in ExCores telegram groups (Link can be found at bottom of this page) that explain in detail how to use the bounce platform.

Public sale

On October 21, the public presale will launch with a hard cap of $800,000 worth of ETH. Everyone will be able to participate in this sale as long as they have a metamask wallet. The minimum requirement for this sale will be 1 ETH, but keep in mind there will be gas fees, so you will need to have some extra in your account.

Staking

On the same day as the public presale, ExCores staking platform will also launch. Their staking platform offers an impressive 550% APY that will come from fees from every transaction on the ExCore network. To stake your tokens, there will be a 1% fee to stake your tokens as well as a 1.5% fee to unstake them, but staking for even just one day will be enough to cover these fees.

Summary

Not only does ExCore make for a great investment with their anti-inflation protocol, but if you also stake your ExCore you will be looking at some very nice returns. ExCore is without a doubt one of the best crypto investment options of 2020 and the sooner you get in, the better rates you will be able to buy at. The ExCore team is currently marketing everywhere they possibly can, so once the word gets out it will no longer be possible to buy tokens at this discounted price.

ExCore Links:

Here, you can find a few very helpful links, but most importantly the link to Github. This verifies the integrity of ExCore through our open source code (that anyone can see!).

Github: https://github.com/ExCoreFinance

Website: https://www.exvault.finance/

Telegram: https://t.me/excorevault

Twitter: https://twitter.com/ExCoreVault

Medium: https://medium.com/@excorefinance

Contract address: 0x87D3646B101977de0D2D58dfC5A70e84767A1909

Staking contract address: 0x28Ea47E0ff753AE99eE5241f468817Db6C476d

Technology and Insurance Giants are Among the Newest Members of MOBI 6580

The largest and most progressive companies in mobility continue to join MOBI, the Mobility Open Blockchain Initiative. The new community members join major automakers, smart city leaders, tech companies, startups, and other mobility stakeholders working together to accelerate the development and adoption of blockchain-based standards for the mobility ecosystem. These standards will be the foundation for a protocol-agnostic permissioned network that will enable all stakeholders to exchange, share, and monetize mobility and transit data.

“We are thrilled that AWS, Hitachi America, Ltd., Reply, USAA, and other mobility thought leaders see value in this technology, this community, and this vision,” said MOBI Co-founder and COO Tram Vo. “MOBI’s rapid growth is a testament to both the level of industry interest in blockchain technology and the recognition that companies of any size can benefit by collaborating to accelerate adoption.”

Companies seek to use blockchain and distributed ledger technology (DLT) to improve efficiencies and facilitate new services for valued clients and customers across the globe.

“AWS is delighted to join MOBI to work with its partners, sponsors, and affiliate members to help establish industry standards for smart mobility blockchain adoption,” said Bill Foy, Director of Automotive at Amazon Web Services, Inc. “Many of our automotive customers are working to apply blockchain and distributed ledger technologies to address mobility, supply chain, finance, and electric vehicle to grid opportunities. By participating in MOBI, AWS can help customers apply these new standards to make transportation greener, more efficient, and more affordable through collaboration with the community.”

Verifiable vehicle journeys are critical to building a trusted, intelligent, and shared mobility ecosystem. MOBI members across the mobility value chain are working together to create interoperable, scalable solutions that reimagine the business models of the future.

“The mobility industry is experiencing significant changes as connected vehicles, autonomous cars, Industry 4.0, and IoT impact the landscape. By teaming up with MOBI, we believe that the deployment of this blockchain initiative will help to create mobility ecosystems for driving innovation and enhance our core technologies to contribute in social, environmental, and economic values for our customers,” said Dr. Harsha Badarinarayan, Vice President, R&D of Hitachi America, Ltd.

The convergence of multiple rapidly maturing technologies such as AI, IoT, 5G, and blockchain, permits anything to have a secure identity, be intelligent, and securely transact with other things. New sensors, chip sets, and electronics are being developed by the industry to facilitate connected vehicle communication with other vehicles and infrastructure (CV2X). Together, these capabilities will define the future of mobility in the Smart City.

“Blockchain technology is now mainstream alongside IoT, Cloud and AI in defining the future of our world,” said Reply CEO Tatiana Rizzante. “In MOBI we have seen the opportunity to work with forward thinking companies, governments, and NGOs in making mobility services more efficient, greener, safer and building a more transparent and trustworthy ecosystem for our customers and the entire automotive industry.”

Truterra, LLC And Nori Launch Partnership To Address Major Challenges To Farmer Participation In Carbon Markets 6312

Truterra, LLC, the sustainability business and subsidiary of Land O’Lakes, Inc., one of America’s largest farmer-owned cooperatives, today announced a new pilot project with Nori, a company using blockchain technology to create a new voluntary carbon removal marketplace. The pilot focuses on addressing a key infrastructure challenge holding back the development of an ecosystem services marketplace at scale: the ability to easily translate existing farm data that capture the carbon removal impact of on-farm conservation practices into potential carbon credits that could offer a new viable revenue stream for farmers.

Through the pilot, Truterra is syncing up its best-in-class technology, the Truterra™ Insights Engine, which farmers are already using to generate customized stewardship and profitability data and insights for each field and acre, with Nori’s carbon marketplace. Growers will be able to use the data they’ve already entered into the Truterra™ Insights Engine and other sources of farm data to submit to Nori, at no cost to them, to see the potential value of carbon credits they could generate as a result of the soil health-building practices they have implemented on their farms. Currently, farmers can be paid up to $15 per tonne of carbon sequestered in the soil on Nori’s marketplace.

The pilot will make it easier for growers to understand what they have to gain in a carbon market and to use that information to make decisions about their stewardship practices. Under the pilot, farmers will retain full ownership of their data – as they do at all times as part of the Truterra™ Insights Engine– and Nori can provide guidance on how much data to use to qualify for carbon credits.

“As a wholly owned subsidiary of Land O’Lakes, Inc., which is a farmer-owned company, Truterra is focused on developing new ways for our farmers to derive value both from their data and from the stewardship practices they have made the choice to implement on their farms,” said Amanda Neely, Senior Manager, Technology and Innovation, Truterra. “There’s a lot of excitement and, frankly, some big promises out there about carbon markets and the potential for farmers to derive revenue from them. But private sector markets are still in their early stages and there are still many challenges to address before they can scale and become mainstream. This partnership is designed to identify and address those challenges, and deliver real results and value for the planet and for our farmers, building on the improved profitability and better return-on-investment that farmers in the Truterra network may see as a result of implementing certain conservation practices.”

“This is an amazing opportunity to scale with a partner whose goals are aligned with supporting farmer’s needs and transitioning to more regenerative supply chains,” said Christophe Jospe, Nori co-founder and Chief Development Officer. “Through this effort, we’ll help reward farmers for storing carbon, find ways to more efficiently use farm-level operating data and new soil health monitoring and measurement techniques, and build upon the learnings of our pilot to ensure that the Nori program works for the farmer first.”

Truterra and Nori are working with a handful of farmers and ag retailers in the Truterra network to develop the pilot during this growing season, which will continue into the 2021-2022 growing season. The partners will continue to add new ag retailer and farmer participants in the coming months.

The pilot partners will apply lessons learned to make carbon markets more accessible to Truterra’s network and, ultimately, all of agriculture. Participating in the pilot will also give farmers and ag retailers in the Truterra network an opportunity to directly impact how farmers can be rewarded for good stewardship practices as carbon and ecosystem services markets become more mainstream.

Korea Begins to Establish the Virtual Asset Business Law 6838

“The National Assembly Seminar for the Virtual Asset Business Law” was held in the Federation of Korean Industries hall with major commercial banks and members of the National Assembly. They insisted that “the virtual asset business law” is necessary for a huge transformation to digital economy in the post-COVID-19 era and for the development of financial industries. The National Assembly began to work on establishing “virtual asset business law”, following the amendment to the Act on Reporting and Using Specified Financial Transaction Information for regulating money laundering of virtual assets, according to Delio.

The seminar was hosted by Rep. Kim Byeong-wook, the secretary of the National Policy Committee and a lawmaker from the Democratic Party (DP), and Delio, the virtual asset lending company. It was sponsored by Delio’s DeFi project DUCATO.

Kim Tae-nyeon, floor leader of the ruling DP, delivered a congratulatory message to the seminar, saying, “The Democratic Party of Korea and the government are rolling out the Korean New Deal, a national development plan that will transform Korea into a leading nation.” He added, “Building an AI government utilizing blockchain is one of the main pillars of the Korean New Deal.” In addition, Rep. Youn Kwan-suk, the chairman of the National Policy Committee, mentioned that the National Assembly is carefully thinking about how to revise the overall laws for digital finance innovation and that the work on the virtual asset should be done swiftly with lots of social discussions, from defining the industry and the implementing ordinances of the Act on Reporting and Using Specified Financial Transaction Information, in order to promote the industry and protect investors.

Rep. Kim Byeong-wook said in the opening speech that the National Assembly should consider how to establish the law and system for the development of the virtual asset and related industries and for investor protection. He emphasized that the virtual asset has the widest possibilities in the post-COVID-19 era and the related law and system should be established to define the virtual asset as an industry.

Lee Hae-bung, the deputy director of the Financial Supervisory Service, explained major issues of the Act on Reporting and Using Specified Financial Transaction Information which passed the National Assembly last year. He highlighted that the amendment does not allow the virtual asset to enter the institutionalized system. He said that Korea should establish the virtual asset law to clarify a boundary between finance and virtual asset like the U.S. and the U.K.

The commercial banks admitted that they look forward to the legislation of the law on the virtual asset. Jang Hyeon-gi, head of Shinhan Bank’s Digital R&D Center, spoke that a bank can play its role in the area of DeFi with a converged model of blockchain and financial service, adding that Shinhan Bank has already been preparing various services based on blockchain like Virtual Asset Wallet, Custody, Payment, etc. Jo Jin-seok, head of KB Kookmin Bank’s IT Innovation Center, predicted that as all the assets that exist around the world would be digitized quickly, in compliance with this trend, banks would release the “digital asset” management platform. Especially, since the amendment passed the National Assembly last year, Korean banks have a great deal of interest in the custody industry, the virtual asset entrust business.

The virtual asset companies backed up the legislation of the virtual asset business law. Han Seong-hee, the director of Bithumb, pointed out that it is urgent to make the law on the virtual asset and insisted that the virtual asset companies and commercial banks should co-work on a business to earn the trust of the virtual asset and to make the market vitalized. Jung Sang-ho, the CEO of Delio, the virtual asset lending service company, said, “Korean government has never admitted the virtual asset as an industry.” As a voice of the industry, he addressed that it is urgent to create effective laws because the virtual asset has been established in the financial industry by the drastic growth of financial services like lending and deposit using the virtual asset.

Koo Tae-eon, the attorney who’s in charge of the legal revision, said, “First, the regulation that allows the virtual asset should become clear by revising the financial laws. Also, the virtual asset that is not a financial product among various virtual assets should be dealt with outside the regulation.”

Prof. In Ho from Korea University and Prof. Ha Tae-hyeong from the University of Suwon participated in this seminar as academic representatives. Several virtual asset companies joined the seminar to talk about the necessity of the virtual asset business law and related tasks, including Bithumb, Hashed, an investment company, Peertec, a blockchain financial technology company, and Delio, a company specializing in DeFi.

Except for the virtual asset companies, major commercial banks that are traditional financial institutions in Korea and the representatives of the National Assembly agreed to legislation on the virtual asset business law. It is expected that Korea will speed up to establish the laws related to the virtual asset.