Bitfury will make available Lightning-payments for the application Paytomat

Blockchain technology company Bitfury Group has entered into a partnership with the payment system Paytomat. In cooperation Bitfury adds the ability to send Lightning-payments via cryptocurrency wallet and app for merchants from Paytomat.

For the technical implementation of the system will be the responsible developers of LightningPeach controlled by Bitfury company.

«Merchants ready to accept bitcoin, and cryptoanalysis to pay for it. We will provide the opportunity to implement both. But the partnership with Bitfury and implementation of network Lightning in our ecosystem, this feature will be very fast and effective», — said CEO Paytomat Yuri Renter.

ForkLog previously reported that payments Lightning Network will be available in Microsoft Excel.


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E-the hryvnia vs. cryptography: will have heads two Ukrainian digital coins?

Ukraine, despite the lack of legal regulation of the cryptocurrency market and blockchain technology develops on the basis of the last two digital asset. 2016 national Bank of Azerbaijan has launched a research project on implementing electronic hryvnia (UAH) and cryptocurrency exchange Kuna since August of 2017 has begun to develop a national stablon under the working title «Cryptography». Journal ForkLog understood in a special material, what’s the difference between these assets and is it time for digital experimentation over the economy of Ukraine.

E-the hryvnia from the NBU

The first steps for implementation of e-hryvnia — the national currency of Ukraine in digital form — was made at the end of 2016. Then the national Bank jointly with the leading Ukrainian blockchain experts began to study the international experience, the risks and benefits of available technology solutions to the financial ecosystem of the country.

The specialists of the NBU stated that they developed e-grivna chart allow government and business to minimize costs when you transfer money, and conduct snapshot operations.

A pilot project testing innovative payment solutions in running the Central Bank Cashless Economy project started in June 2017. In addition to the team of the national Bank in it on a voluntary basis were involved relevant stakeholders in the payment market. Were investigated legal aspects, macroeconomic effects and designed optimal business model of the new digital asset.

In January 2018, the Bank said that e-torque will not «crypto-currency from the national Bank», and the usual payment token.

According to the adviser of the head of the Association of Ukrainian banks Alex Kusch, electronic torque will be on the Bank accounts, but the account of the electronic wallet, and the blockchain will protect her from fraud, hackers and illegal withdrawals. He also stressed that e-torque will be the obligation of the national Bank, which can be bought for cash.

In exclusive comments to the journal ForkLog NBU representatives confirmed that they continue to study, as e-torque may Supplement the payment landscape of Ukraine and increase the share of cashless payments and reduce their cost.

«Electronic torque — it FIATA currency in electronic form, which is exchanged for cash in the ratio of 1: 1. Transaction with e-torque can be carried out using a computer or smartphone,» — said the NBU.

Now the national Bank is completing a pilot project on e-local currency: almost finished the technological part, is working on Analytics. According to preliminary estimates, the pilot project on e-local currency should be completed in December 2018.

«We stress that the decision about the feasibility of introducing electronic hryvnia will be taken only after a detailed analysis of the developments and results of the pilot project and assess the interest of the consumers and participants of the payment market in this product,» — noted in the national Bank.

Cryptography from Kuna

In August 2017, the founder of the Ukrainian cryptocurrency exchanges Kuna Michael chobanian proposed an alternative draft of national cryptocurrencies under the working title «cryptography». Then it was reported that open-source project will allow to develop the expertise «to run a national crypto-currencies from the national Bank.»

In November 2018 Kuna fully revised legal model of the token that was previously assumed to provide hryvnia stocks traders in the personal wallets of the exchange.

«From this concept we left, because it’s not scalable and it will not be able to participate legal entities. In addition, we need individuals who can send money from your current banking account, because there is no limitation on the map», — said Mikhail Chobanyan.

As reported by representatives of the Kuna of team magazine ForkLog, cryptography will be the first Ukrainian steilcoom that will neutralize the risk of price volatility. In addition, the influence of the exchange rate of the hryvnia, according to them, will be «more understandable» to the market.

In the first phase, a token will work on the platform Ethereum (standard ERC-20). The mechanism of emission and its volume will be disclosed in the public offer and the whitepaper project during startup.

«Cryptography will have the properties of different types of tokens depending on the transaction in which it will be applied. Payment of fees — the properties of the payment token, the ability to obtain additional services for holders of the coin — utility. In certain transactions, cryptography will be security-token», — said the team exchange.

Unlike e-hryvnia cryptography will get more broad in scope. The new token will have the similarity with the Swiss WIR coin, released in 1934, which gives the possibility to perform settlements, as well as an instrument for the mutual lending and provision of obligations of system participants.

«Criptografo can be used as an alternative to traditional means of payment in online purchases, conditional deposits, loans, thereby reducing the volume of cash payments. Also the token will complete a tool exchange on the stock market and the tool of exchange trading. In addition, cryptography will give the newcomers the opportunity to enter kryptering through which they understand the digital currency, without immediate entry through other altcoins», — said the developers.

Initially, cryptography will be traded on the stock exchange Kuna, then her listing would be possible on any other exchanges and exchange offices.

Representatives of the Kuna stressed that the issue and circulation of token will be implemented in the legal field, and the coin will be able to operate before the adoption of the law on the regulation of cryptocurrencies.

«All service providers in the chain, the activity of which is regulated, have the necessary license», — assured them.

Now the model is in the final stages of development, after which will pass the stress test in law firms.

It is expected that full commercial operation of the token will start in 2019. Within a year after its launch, the Kuna exchange hopes to attract UAH 1 billion.

A positive experiment for the economy of Ukraine

Both projects national digital assets will find their consumers and will be competitive, confident lawyer, managing partner of the Juscutum legal company Artem Afian.

«E-rate and cryptography can be a very different target audience, different scope, different pros and cons. The project is developed by electronic hryvnia the national Bank for a long time. Periodically, he transformered changing technological background, examines the possibility of using the blockchain, cryptocephaline to ensure the sustainability and comfort that money. But, anyway, what makes the Bank – it was originally a variation of the hryvnia, some form of existing money.

What makes Kuna is completely different, a new kind of digital asset.
Before cryptography found concrete shape, I will refrain from assessing the financial side. But this tool does not enter into direct competition with what makes a national Bank, and I think it can completely occupy its separate place in the economy of the country. Cryptography has much less legislative frameworks, but that makes it more flexible and therefore more interesting», — said in comments Afian ForkLog.

However, the expert stressed that for the first and second draft needed further clarification from the regulator regarding the licensing procedures and their application in the banking sector. Depending on this, it will become clear whether you will need additional regulatory framework for their functioning.

In General, Artem Afian positively assessed the prospects of creating a national digital asset in the country.

«Ukraine’s economy is experiencing a number of depressive factors, that there is no negative effect of these two projects just will not have. Whether they are positive – probably, Yes. The state of consciousness of participants of the market is quite ripe. Moreover, in a growing economy is much easier to introduce new formats of payment instruments», — says Artem Afian.

It is obvious that to speak about practical results of the development of the national token is still too early, however, the successful implementation of at least one digital asset on the basis of DLT technology will allow Ukraine to remain among the world leaders in the introduction of the blockchain.

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Acne Buterin responded to the statement about the coming collapse of Ethereum

2 Sep at TechCrunch published an article entitled «the Collapse of Ethereum is inevitable,» the author of which were made by the Bitcoin Core developer and technical consultant Stellar Jeremy Rubin. Co-founder ETH acne Buterin partially concurred with her arguments.

In the article, Rubin claims that the price of ETH will sharply fall. According to the expert, Ethereum serious problems with scalability and security in smart contracts, which in the future will not allow the project to beat the competition. All this will inevitably lead to the collapse of the way «economic abstraction».

Economic abstraction is a term used to describe the payment of fees related to the transactions or smart contracts, in token that is not native to Ethereum. Instead of paying at ETH the owner of a smart contract pays in its own tokens that are native to his contract.

The concept of economic abstraction is the basic arguments in ruby: if all the owners of smart contracts will be able to pay the fee in tokens ERC-20, but not in ETH, the latter will lose its value.

Acne Buterin responded to statements in ruby Reddit, partially agreeing with them.

«In Ethereum, in the form in which it exists at the moment, it is absolutely true. In fact, if Ethereum has not changed, all the arguments of the author (except for the part about Proof of Stake) would be true.»

However, he said that Ethereum can survive, if will be able to develop and evolve.

According to Buterin, now the community of Ethereum is considering two proposals which, if implemented, will ensure the cryptocurrency with their own Protocol. This means that to pay for gas will be required ETH. So structure will be created, due to which the value of Ethereum will be «much above zero».

Depending on how long the community will consider these proposals, Ethereum will expect weeks or months of uncertainty.

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In Iran mining recognized independent industry

Secretary of the Supreme Council of Iran on cyberspace Abolhassan Firuzabadi (Abolhassan Firouzabadi) stated that the national Ministry of information and communication technologies, Central Bank, Ministry of industry, resources and trade, the Ministry of energy and Ministry of economy and Finance acknowledged mining cryptocurrency an independent industry. In addition, according to him, 22 September presentation was developed by the national Center for cybersecurity and the Central Bank of Iran the legal framework for cryptocurrency trading and participating in the blockchain startups.

Firuzabadi also confirmed that the government is considering launching its own cryptocurrency as a tool for calculations with trading partners to bypass the U.S. sanctions.

Recall that in late August a representative of the national cybersecurity Center of Iran said Mahdian (Saeed Mahdiyoun) reported that on behalf of the President of the country Hassan Rouhani (Hassan Rouhani) has prepared a draft document on national currency. And in the spring of this year the country’s Central Bank has banned banks and other financial institutions and to exchange currencies to carry out any operations with cryptocurrencies and promote them.

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The analyst warned that bitcoin fall below $5 thousand in July

Well-known analyst and trader at Weiss Tone (Tone Vays) believes that the price of bitcoin will drop in July below $5000. Price movements first cryptocurrency this year he compared to 2014, when during the year they declined from a level of about $800 to nearly $300 per coin.

Weiss on Twitter recalled that a few months ago warned about a bear market bitcoin, and confirmed that he expects BTC below $5 thousand.

“It’s been a long time since I posted such a chart BTCUSD. It’s pretty boring and really eats up time. My most optimistic bearish target for bitcoin remains at $4975 in the first half of July. I will update their expectations with respect to future levels after achieving this,” wrote Tone Weiss.

He did not believe that the fall in the price of bitcoin over the weekend associated with breaking Coinrail and sale on the markets, causing a drop in prices to $6700. Not only price movements but also the relative strength index (RSI), convergence/divergence between moving averages (MACD) and stochastics to confirm a trend similar to that which arose after previous highs of BTC in late 2013, says analyst.

Recall that the co-founder of Fundstrat Global Advisors Tom Lee (Tom Lee) continues to insist on its forecast of a sharp growth of quotations of bitcoin in mid-summer.

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The South Korean giant Kakao plans to launch cryptocurrency exchange

South Korean company Kakao announced its plans to launch cryptocurrency exchange. Bidding will be conducted through a mobile app for messaging KakaoTalk, which uses 93% of smartphone owners in the country.

The company already has an app for stock trading Kakao Stock. Service users can buy securities via messenger. The transaction fees they do not pay.

It is assumed that the future of cryptocurrency, the exchange will work in a similar way. It will support the currency such as Bitcoin, Ethereum and others. The work on the new site has been ongoing for several months.

At the moment, the new platform is not an official name. The launch date of the exchange the company has also not yet called.

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ICO-startup Taylor lost 2500 ETH as a result of hacking

Blockchain-Taylor project, developing a platform for beginners capturadora and recently completed ICO, been compromised. Hackers stole all the funds in the amount of 2578,98 ETH (about $1.5 million at the time), as well as private tokens of the project – TAY. It happened on may 21.

According to the team, the incident involved the same hacker (or group) who hacked another project CypheriumChain, stealing more than 17 thousand ETH.

According to Taylor, the hacker gathered all project funds in one wallet, and then translated them into a larger wallet, which had previously been transferred CypheriumChain. At the moment, this address is stored 48,440 ETH.

After the robbery, the project team found that the hacker is trying to sell their tokens on the exchange of IDEX. The startup has appealed to the courts with a request to delist TAY until then, until the situation becomes clearer.

The company also claims that tried to contact EtherDelta, but got no response. In the latest statement dated 23 may, the startup announced that during the attacks the hacker was able somehow to access one of their devices and thus to gain control over one of the files with passwords.

To offset funds to affected users, the company intends to issue a new token. It will be those who had a balance on the block 5663273 – with the exception of hacker.

«Our goal is to ensure that the hacker doesn’t get a new token. We analyzed all of the transaction and know exactly where the stolen tokens», – noted in the company.

Founder Taylor Fabio Seixas (Seixas Fabio) in comments to Brazilian publication Portal do Bitcoin said that the project team intends to hire a company to investigate the incident. He also promised to provide more information in the future.

«Soon we’ll announce the action plan in relation to the activities of the company and what happens with the token. At the moment I can’t provide more information,» said Seixas.

However, some users believe that this burglary was pre-planned staging.

We will remind that in April, users of Ethereum-wallet MyEtherWallet hacked, resulting in stolen 216 ETH of approximately $152 thousand

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Deloitte presented an overview of the regulation the ICO in 8 countries

Auditing company Deloitte has published a review of developments in state regulation of tokens and the holding of ICO in eight countries.

The document describes the recent decision of the regulators of China, Hong Kong, Canada, Singapore, USA, Isle of man, Malaysia and Israel.

At the conclusion of the review, the representative of Deloitte CIS says that in the world there are still jurisdictions that are willing to work with the ICO, and it is possible that many will look for «safe haven» for their projects in such countries.

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Home mining at the current price of bitcoin: heated space and grow tomatoes

To the chagrin of many enthusiasts, the notorious «here» in 2018 did not take place. The price of bitcoin and most other scriptaction much lower than at the end of last year. The market is still scrambling for a foothold, after a protracted correction, alternating stringy flat and deceptive «jumps of a dead cat».

However, in this situation there is nothing out of the ordinary. At least, so says a researcher Pension Partners Charlie Bilello, which results in a graph of maximum drawdowns of bitcoin since 2010:

Many believe that the market will eventually recover. Nevertheless, the ongoing deep recession right now has a serious impact on the profitability of mining. If in 2017 he was extremely profitable occupation in the home, but now the situation is clearly the opposite. Evidence of this are the fall of Harrachov due to power tens of thousands of mining devices, lower prices of farms and the unsatisfactory financial performance of Nvidia in the area.

Many have questions like «whether a profitable mine at home?», «are there innovative approaches to mining to energy intensive algorithm Proof-of-Work?» or «is it possible to use heat released by the equipment?». Journal ForkLog tried to understand the situation and answer these questions.

Mining is now very bad?

As you know, prices of most of cryptocurrencies since the beginning of the year fell by 70-80%. It is quite natural that in such conditions of miners becomes much smaller, since many types of equipment operate at a loss.

In particular, this thesis confirms the expert in mining and CEO of Acronym.Systems Matthew European Roller.

«We turned off all my equipment except that used for heating, and in addition farms on the NVIDIA» — he said.

Almost also did the famous YouTube blogger Mister Xal. In his video he says that the farm uses three graphics cards basically just to warm up, not overpaying for electricity.

Three GPU-farm issue 321 MH/s and at rate of $0.06 per kW / h of electricity bring $1.86 net income per day. But, according to him, the room is not cold and not need, relatively speaking, to go «plant».

«Buy the video card now makes no sense» — emphasizes the blogger.

The question arises: is it possible to enter into mining, mining cryptocurrency for the future, that is, in the hope that the market will soon unfold and this activity will be profitable?

Matthew European roller is convinced that the mine «minus» makes no sense because it is faster and easier to just buy coins on the market. However, he notes, can be different strategies of mining:

«For example, if you have cheap electricity, then there is hardly a better market than this one. After all, almost any type of equipment can now be purchased for pennies in comparison with peaks on the market. If you have the Fiat and you expect the market recovery can, for example, to buy an Nvidia farm on the cards for very very modest prices.»

Useful mining

As you know, a large part of the energy consumed in the process equipment is converted into heat energy. At high power, mining-farms, many people wish to use the heat that they emit.

So, for example, received a Czech entrepreneur and co-founder of the crypto currency exchange NakamotoX Kamil of Bracha. He used heat mining farm for growing vegetables.

For heat storage and subsequent transfer it to the greenhouse, the project team created a so-called «containery» and put them in the basement. The crop grown thanks to the rational use of the received heat from the miners, dubbed cryptomate.

According to the businessman, the very mining equipment gets electricity produced thanks to the recycling of biowaste.

«In fact, we have a closed energy cycle» — said Kamil of Bracha.

A year ago ForkLog reported Irkutsk entrepreneurs who have tested the mobile home, heated and provided hot water only from cryptoquote on the basis of two mining farms.

«Cryptococal looks like a normal system unit, which summed up the silicone tube with pink liquid — coolant. The miners heat the liquid, which is then distributed through the house through pipes. This creates added value in the form of cryptocurrency. Of course, more profitable to be heated in this way», — said one of the authors of the idea of Ilya Frolov.

Thus, the unfavorable price situation on the stock market, even if the equipment operates at a loss, you can obtain tangible benefits from allocated miners heat.

The use of this heat can be many. For example:

  • heating of any body of water fisheries, swimming pool, etc.
  • heated air indoors — office, shop, private house, greenhouse, etc.
  • warm floors in the house.

Of course, all these methods are utilization of heat should be carefully considered.

Mining 2.0

The market increasingly began to appear companies that not only create hybrid solutions, but also engaged in the design and installation of sometimes quite complex and powerful systems.

For example, the Ukrainian company Hotmine working on this kind of decisions since 2013. Their products the company is classified as «mining 2.0».
Now the company creates a «miners-heaters» of various variants and configurations that can be used for small spaces and for large objects.

Thus, the device Hotmine WX12 on the basis of chips from company Bitfury can mine bitcoins at a speed hash 29 TH/s.

The unit has a capacity of 4 kW and provides for immersion cooling. The exhaust from miner’s heat can heat the water in the heating system up to 70°C.

In one of the videos demonstrates this miner-boiler in action on the example of a private house:

The company creates and mining system of high power. So, Hotmine Data Tank has a capacity 500-570 Th/s.

Also the blog notes that a system consumes from 60 to 72 kW, weighs 600 kg and is able to take more than 100 kW of thermal power.

In addition, Hotmine currently creates convector-miner, which, according to the developers, looks like a radiator and works quietly.

Such decisions, but focused on mining altcoins, creates a startup Comino.

According to the developers, the liquid subcooling increases by 20% the performance of the involved cards. The unit runs very quietly, giving 200 Mh/s when mining Ethereum.

Also, according to Comino, the unit can be used as a home heater.

Similar but slightly less powerful solution, offers French startup Qarnot. Cryptological QC-1 is equipped with two graphics cards — AMD Sapphire Radeon RX580 Nitro and 8G, a total capacity of 60 MH/s.

Cryptologically from Comino and Qarnot look quite elegant. However, the obvious disadvantages of these devices are their prices against the background of falling profitability of mining ETH cards seem to be extremely overpriced. So, the price of the first device is €4500, and the second is €2900. Thus, it is unlikely at the current price of Ethereum rely on the fact that such «cryptomancer» will pay off quickly.

For example, if you believe the calculator from Nicehash, even at $0.06 per kWh is popular among miners the AMD RX 580 8 GB brings the monthly $3,42.

Data as of 26.11.2018 with weighted average prices Ethereum at $110.

In addition, it is unlikely generated by these devices heat is enough to consider them full-fledged heaters. Apparently, the practical use of such convector-miners can only be in the offseason, or when used as a supplementary heat source.

However, in the opinion of the head of the Acronym.Systems, the term «mining 2.0» may include not only useful application of heat, but entirely different things:

«On the one hand by «mining 2.0″ can mean alternative ways of achieving consensus, such as Proof-of-Stake. On the other hand is a movement in the direction of Fog Computing (fog computing), when we use the power mining equipment for useful calculations (e.g. SONM)».

Overall, he said, decentralization is not limited to «estimates and calculations». For example, there are significant prospects for the sphere distributed storage of data, ensuring privacy of information and its inaccessibility to the state and corporations.

Stylish miners

Despite not the best situation in the market, companies and their marketers do not lose heart, resorting to various tricks. So, for coinmine firm has presented device for cryptocurrency mining, in appearance resembling a Xbox.

One for coinmine offers several options for mining bitcoins: Ethereum and Ethereum Classic with speed of computation 29 MH/s, Monero with 800 H/s, with zcash for 290 sols/s. On the website States that the AMD Radeon RX 570 4 GB

The device consumes 120 watts, low noise level — 40 dB — allows you to install it in the living room or office. The user can operate the extraction using an intuitive app for Android or iOS.

«We want to democratize the market for mining equipment and to reduce the entry barriers to the business of the cryptocurrency mining», — said General Director for coinmine of Farbood Nivi.

The start of sales for coinmine One is tentatively scheduled for mid-December. The price of the miner will be $799.

Calculate payback device for coinmine from the same relatively small $0.06 per kW / h the Calculator gives us that in a month such a device brings in $3.40 in profit, and in the day — only 14 cents.

Data as of 30.11.2018

Now divide the price of the miner on earnings per month: 799 : 3,40 = 235 months.

It’s almost 20 years! In addition, when calculating not taken into account the very likely growth of Ethereum, and reducing the rewards for the block in the context of the ongoing transition on the algorithm of consensus Proof-of-Stake.

Thus, it is unlikely, given current market conditions for coinmine One can be considered as an investment. Given the fact that the device uses only one video card, it is unlikely that it will generate significant amount of heat. Apparently, the device is designed for those who want to «feel» what is mining, does not want to bother the technical details.

***

Thus, despite the seemingly sorry state of Affairs in mining industry, there are opportunities to adapt to the current situation and in the warmth to wait out the proverbial «cryptobia». In all likelihood, the decisions on rationalization of mining will develop in the future. This, in turn, will help stabilize Hasrat and sustainability of kryptonyte in General.

Alexander Kondratyuk


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Unknown player during the day, moved 12.3 million Litecoin

30 November, the Litecoin system has handled transactions totaling nearly $1.1 billion, which significantly exceeded the average daily figures ($100 million). Total for the day was transferred 35.4 million LTC, which is about 60% of the market offer. One player allegedly transferred 12.3 million LTC.

So, in the TOP 100 richest Litecoin wallets included just 41 new addresses with a balance of 300 000 LTC. Unknown at this time, standing there over the transactions, bitcoin exchange or OTC platform. Nevertheless a new player, if it is one subject, now owns nearly 15% of all Litecoin coins that will ever exist.

Some users also suggested that Bakkt or Fidelity Digital Assets therefore are prepared to launch, however no evidence of this yet.

At the moment, these wallets hold all the lines of the list of the richest holders of coins from 10 to 51.

We will remind, on 3 and 4 December three purse carried out a transaction on 199 thousand bitcoins, and several times separating them, including between the address format bech32 combined accounts for 8000 BTC.


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