Crypto.com: Earn Up to 8% p.a. on PAX Gold (PAXG) Deposits 15110

Crypto.com, the pioneering payments and cryptocurrency platform, announced today that it has added PAXG to Crypto Earn, allowing users to enjoy up to 8% p.a. on their deposits.

PAX Gold (PAXG) is an asset-backed digital token where each token represents one fine troy ounce (t oz) of London Good Delivery gold, stored in professional vault facilities in London. Anyone who owns PAXG owns the underlying physical gold, held in custody by Paxos Trust Company.

Crypto Earn now supports 15 coins for holders to maximize their returns, including BTC, ETH, LTC, XRP, BNB, TUSD, PAX, USDC, MCO, BAT, LINK, CRO, MKR, and DAI, with the addition of PAXG. Interest is paid out weekly in the coin deposited with flexible, 1-month or 3-month terms available. Users earn more by staking at least 500 MCO.

About PAX Gold

PAX Gold (PAXG) is an asset-backed token where one token represents one fine troy ounce of a London Good Delivery gold bar, stored in professional vault facilities. Anyone who owns PAXG has ownership rights to that gold under the custody of Paxos Trust Company. Since PAXG represents physical gold, its value is tied directly to the real-time market value of that physical gold. On the Paxos platform, customers can convert their tokens to allocated gold, unallocated gold, or fiat currency (and vice versa) quickly and efficiently, reducing their exposure to settlement risk. For more information, visit: https://www.paxos.com/paxgold.

About Crypto.com

Crypto.com was founded in 2016 on a simple belief: it’s a basic human right for everyone to control their money, data and identity. With over 1 million users on its platform today, Crypto.com provides a powerful alternative to traditional financial services, turning its “vision of cryptocurrency in every wallet” into reality, one customer at a time. Crypto.com is built on a solid foundation of security, privacy and compliance and is the first cryptocurrency company in the world to have CCSS Level 3, ISO27001:2013 and PCI:DSS 3.2.1, Level 1 compliance. Crypto.com is headquartered in Hong Kong with a 170+ strong team. For more information, please visit www.crypto.com.

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Asia Pacific’s First Tokenomics Research Center Opens in Taiwan 18960

Flowchain Tokenomics Research Center opened in National Tsing Hua University located in Hsinchu City, Taiwan, on September 6, 2019. With the cooperation of Professor Chuan-Hsiang Han of the Department of Quantitative Finance at National Tsing Hua University, Flowchain aims to build a Tokenomics Research Center to conduct macro and micro models in the tokenized world using evidence-based research.

Tokenomics is a term used to describe the study of the design of a cryptocurrency and its related virtual assets to build the ecosystem around that specific token. In order to ensure the reliability of participants’ behaviors, it combines elements of the study of economic incentives, game theory, cryptography, behavioral psychology, and computer science.

To conduct a reliable and valid model for tokenomics, Flowchain Tokenomics Research Center first used FlowchainCoin (FLC) as an indicator. Jollen Chen, Flowchain’s founder and CEO, initially found it challenging to explain the trading patterns of virtual assets by using the economic models of traditional financial assets. Law enforcement agencies are also unable to analyze and respond to crimes related to virtual assets without specific standards. Consequently, the security and stability of blockchain economics development cannot be guaranteed.

Flowchain, therefore, attempts to use algorithms to build a tokenomics model of trading strategies to prevent scams by tapping into the combination of the team’s experiences in issuing FLC and Professor Han’s background in economics. “Blockchain technology is primarily known from cryptocurrency applications, including token issuing. The goal is that through the Flowchain Tokenomics Research Center, we can create a better tokenomics ecology for Flowchain using rigorous academic research methodologies. Also, with the hope of a successful transformation and development for Taiwan’s tokenomics industries, I anticipate sharing our experiences and future results with them.” said Jollen.

Flowchain is also seeking additional cooperation opportunities with professionals and academics at research universities in other geographic locations overseas to build a comprehensive model.

IOTA Introducing Chronicle — A Permanode Solution 20654

IOTA

The IOTA protocol is a permissionless trust layer for the Internet of Things which enables a frictionless exchange of value between machines and humans. Anyone can secure data on the Tangle and make it verifiable to third parties for free.

For node owners with limited storage, transactions can quickly fill up their database. This presents a problem for the Internet of Things, where IOTA is working on integration with low-level, resource-constrained devices. We introduced local snapshots for this reason, allowing node owners to delete old transactions and keep their Tangle database small.

However, for many business use cases, data needs to be stored for long periods of time. For example, financial data must be stored for 10 years in some cases, and identity data needs to be kept for the lifetime of the identity. In order to enable these types of use cases, the IOTA Foundation has been working on one crucial building block: a Permanode.

Chronicle is the IOTA Foundation’s official permanode solution. It makes it easy for node owners to store all IOTA transactions in a fast, secure, scalable, and distributed database. Chronicle is used to store the unbounded data flow of the Tangle and make it queryable. In other words, a permanode enables indefinite storage of the Tangle’s entire history and makes that data easily accessible at scale.

Chronicle is a distributed fault-tolerant permanode that scales out and up, designed and developed in a battle-tested Elixir/Erlang ecosystem. The project will now be ported to Rust and become an official production-ready building block maintained by the Foundation.

What makes Chronicle so unique is the opportunity for community members and even businesses to offer the Tangle data “query as a service”. With some minor additional development, node owners could earn money by charging IOTA tokens to access historical Tangle data. By querying a quorum of internal and external nodes the absolute truthfulness of the data could be ensured.

The functionality can be extended further through Multiplex networks, building microservices for each layer that can communicate with public and private dataset(s) under different policies.

Learn how to get started and set up your own permanode here.

What are the next steps for Chronicle?

Going forwards, Chronicle will share its runtime environment with Bee, our next generation of node software. With today’s release marking its first iteration, work will begin immediately on porting Chronicle into the Rust programming language to run alongside Bee. As with the release of Trinity, Chronicle will undergo a third-party audit, as part of the Bee framework, to ensure it is water tight before then being declared production-ready.

As part of our work to further extend the functionality and capabilities of Chronicle, we also invite the community to take part in this work. We intend to issue grants in developing and expanding the notion of permanodes, with a grant already recently awarded to a community-made selective permanode implementation.

We encourage people to view the repo on GitHub. The system architecture can be viewed here, detailing the data model, data flow and the backend storage database(ScyllaDB).

Korea’s Union Mobile Launches ‘ELYNET’ Blockchain Project 21683

Korea

NY Union Mobile, which worked to become the fourth mobile carrier in Korea, has officially announced the launch of their blockchain project ‘ELYNET’. The project is designed to provide differentiated mobile services using blockchain technology while leaving behind regulatory hurdles for approval as a mobile network operator.

As a decentralized telecom project, ELYNET uses blockchain technology to make communication more efficient for users who currently rely on a single carrier for telecom service. Through ELYNET, users can freely use data communication services without the drawbacks of existing wireless carriers such as roaming fees and contracts. The ELYNET project effectively eliminates the need for expensive data centers for wireless communications, allowing users to enjoy superior telecom quality at dramatically lower costs.

The ELYNET team plans to use the application of distributed ledger technology to further expand the user base of parent company Union Mobile. “Most of the members of our project team have built their careers at existing mobile carriers, including LG U+, and we have received support from talented people who have worked at KPMG and Samsung for the design of the token economy”, said Union Mobile’s CEO Seyong Ro. “This will help us to realize our business. When users connect to the communications network through ELYNET’s own operating system, they can purchase data through ELyX, a token used in ELYNET’s ecosystem, and freely enjoy mobile data communication anywhere in the world without roaming fees or contracts.”

Trezor: New Bitcoin-Only Firmware Now Available 22277

Trezor

Trezor are thrilled to announce that the beta version of our new Bitcoin-only firmware is now available to download for both Trezor One and Trezor Model T. Trezor aim to introduce a stable version of Bitcoin-only firmware in the next month’s release. From now on, Trezor will be producing four different versions of firmware — regular (full altcoin support + U2F/WebAuthn) and Bitcoin-only, for both Trezor One and Model T.

Trezor have created a customized version of both our firmware and Wallet designed for everyone who supports the idea of Bitcoin. Every Bitcoin maximalist can now enjoy the Wallet interface with nothing else but Bitcoin. All the features of Trezor One and Model T available just the way you like it; Bitcoin only.

How to install Bitcoin-only firmware

Trezor recommend testing your recovery seed in a dry-run recovery before updating the firmware. It’s also essential to note that after installing Bitcoin-only firmware, all your other coins will disappear from the Wallet interface — but don’t worry! The private keys to your altcoins remain protected within your Trezor. The regular Trezor firmware is required to access your altcoins. You can swap between the regular firmware and Bitcoin-only firmware as many times as you like.

There are two ways of installing the Bitcoin-only firmware. You can use either Trezor Wallet or trezorctl (advanced users).

You will need:

  • Trezor Model T running version 2.1.0 or newer, or Trezor One
  • Access to Trezor Beta Wallet or trezorctl
  • The correct firmware installation file for your device — Trezor One or Trezor Model T

Installation process using Trezor Wallet:

  1. Visit https://beta-wallet.trezor.io/ and connect your Trezor.
  2. If you are using Trezor Model T and your firmware version is lower than 2.1.0, upgrade to the latest offered version via web-wallet first!
  3. Type “custom_firmware” after your Trezor device ID in the URL.
  4. Download the firmware installation file for your device (Trezor One, Trezor T) and click on “Choose File” to upload the firmware file.
  5. Trezor Wallet will then prompt you to initiate the firmware update process. Follow the instructions to load the firmware file on the device.

Image of the URL address in the second step.

Installation process using trezorctl:

  1. Download the correct file for your device.
  2. Put your device into bootloader mode and confirm a connection with a host on device.
  3. Launch Terminal and go to the folder with the firmware file.
  4. If you have a Model T, update the firmware by pasting
    “trezorctl firmware-update -f trezor-2.1.5-bitcoinonly.bin” into the Terminal window and press enter. Confirm installation on the device.
    If you have a Trezor One, update the firmware by pasting
    “trezorctl firmware-update -f trezor-1.8.3-bitcoinonly.bin” into the Terminal and press enter. Confirm on the device.
  5. Create a new wallet via https://beta-wallet.trezor.io/

Thank you for testing the Bitcoin-only firmware. If you experience any issues or want to share your ideas with us, please send us your feedback here.

Thank you for being a part of the Trezor beta testing community.

Fireblocks Expands Exchange Connectivity, Adds Support for OKCoin, OKEx, Huobi, and 2 More Exchanges 21768

fire

Fireblocks, an enterprise platform for securing digital assets in transit, announced today five new exchange integrations, adding support for OKCoin, OKEx, Korbit, Bithub, and HitBTC. This release also expands current integrations with Huobi Global’s API and Deribit, extending its umbrella of protection to a total of 20 exchanges.

The Fireblocks platform allows for the secure deposit, withdrawal, and rebalance of assets between exchanges by eliminating the risk of deposit address spoofing and credential theft. As each exchange account is uniquely configured, firms trading on multiple exchanges are required to manage a multitude of workflows. This creates operational challenges and weakens their ability to capitalize on market movements. With this release, market makers, prop traders and OTCs have a simple and secure unified workflow for securing assets in motion between 20 different exchanges.

Cryptocurrency companies are under a constant barrage of attacks, with $1.7 billion lost in 2018 alone. Recently, Philip Martin, CISO of Coinbase underscored the level of sophistication of a multi-pronged, and thoroughly planned hacking attempt by confirming, “As this space continues to grow and develop and gain traction, it’s also going to gain traction with more and more sophisticated attackers.”

Fireblocks’ customers use the platform to secure the transfer of digital assets across exchanges, OTCs, counterparties, hot wallets, and custodians. Its unique patent-pending Secure Transfer Environment and Hot Vault system enable secure operational handling and easy mobilization of digital assets without exposure to internal or external threats.

“The current state of the market expects a stronger, more secure foundation with the entry of institutional players that are required to hold accountability over its clients’ funds. We are continuously pushing the envelope to securely connect the institutional ecosystem, linking more and more venues, endpoints and market participants,” said Idan Ofrat, CTO and Co-Founder of Fireblocks. “We’re confident that as we grow our connectivity layer across each touchpoint, the industry as a whole will become more secure.”

Nestlé on propagating digital thinking & pioneering the use of blockchains 22468

Nestl

AS COMPANIES embrace technology and add digital to their DNA, they realize that the sky is the limit. Of course, digital thinking skills are critical, and that’s what sets organizations such as Nestlé apart from its competitors.

The company has been working on the Chain of Origin project — an effort to bring more transparency into the supply chain — which has just been shortlisted for an award in the ‘Operating Model Mastery‘ category at the IDC Digital Transformation Awards.

Ahead of the award ceremony, Tech Wire Asia caught up with Nestlé Digital Technology Manager Armin Nehzat to learn how the company propagates digital thinking and its success pioneering the use of blockchains in the Chain of Origin project.

“The company, on a global level, has seen the need to develop in a digital way. We launched a global program called DAT (Digital Acceleration Team) where members of the brand teams are exposed to digital projects.

“Members of the DAT also have the ability to go on missions to other Nestlé offices in order to propagate digital thinking and complete briefs based on brand & consumer problems and needs, usually on smaller budgets and condensed timelines.

For the Chain of Origin project, the company took a similar approach and started with an initial proof of concept that did not require an investment. That helped the team present the business case and secure funding for development.

According to Nehzat, the Chain of Origin project has been a tad more challenging than most others.

“It has been testing how quickly we can move as an organization to completely review how we do business. From sourcing products at the micro lot level, all the way through to tracking products individually to the end consumers.

In order to succeed, the company adopted a “start-up” mindset approach, deploying small teams with the ability to solve problems on the go.

However, Nehzat plans on taking the learnings from this project and transferring them to things that the organization pursues in the future.

“While we are starting the transformation on a small scale with a new brand, we are looking to see how this could scale to other product offers. So I guess it’s more of a long term journey rather than a short term bet.”