Bitcoin celebrated as cosmonautics Day.
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Police in Vietnam are investigating a case of Modern Tech, suspecting the company in the conduct of fraudulent ICO $660 million.
According to local publication Tuoi Tre News, Ho Chi Minh city-based company Modern Tech under the ICO raised the funds for the development of two cryptocurrency projects: Ifan and Pincoin. Websites and marketing materials both ICO have signs of financial pyramids promising 48% of your monthly income and payback the initial investment within four months. Bonus program encourages early investors and promises 8% reward for attracting new members. It is reported that the imagery used in promotional materials (for example, Lamborghini), also appeals to the idea of getting rich quick. Ifan, promising «riskless activity» positioned as the cryptocurrency of stars and their fans and, according to the organizers, will «grow every day», as the project joined by more and more Vietnamese singers. At the moment it is reported that ICO was organized by the family of the Vietnamese who to attract investors repeatedly have held conferences in Hanoi, Ho Chi Minh city and other cities. Victims are 32,000 depositors, the exact amount of damage is still unknown: it is estimated that scammers might get 15 trillion Vietnamese Dong ($660 million). Over the weekend, investors had a strike in front of the office Modern Tech. The Vietnamese authorities reacted by launching a formal investigation. The chief of police of Ho Chi Minh city in a conversation with Reuters said that «all crypto-currencies and crypto-transaction in Vietnam is illegal.» And on Wednesday, the office of the Prime Minister Nguyen Xuan Fuca issued a Directive dated 4 April, which obliges the Central Bank and the regulator in the field of securities «to strengthen the control over the activities related to bitcoin and other similar cryptocurrencies».
Chinese search engine Baidu has introduced a service stock photos on the blockchain, which is designed to protect intellectual property rights for images.
Launched on Wednesday a service Totem uses the blockchain for time stamping each original photograph submitted by the user with a verified identity. Also, the blockchain stores all the data associated with the image. Baidu says that the new platform compares images on the Internet with data stored on the blockchain, and thus detects violations of intellectual property. It is reported that some traditional photostocks have already switched to Totem, including partner Getty Images — Visual China Group. Among the recent projects on the protection of copyright on digital images is a joint project of Kodak developer WENN Digital, which will create a «cryptocurrency for photographers» KODAKCoin and corresponding blockchain that enables photographers to control the copyright to their work. And the development team at Blockstream recent «week of Lightning» presented FileBazzar — based application design, which allows artists, photographers and other content creators to get rewarded in bitcoin and take control of their works.
The Winklevoss brothers patented system that adds security to the transaction.
Company, Winklevoss IP, LLC, owned by Cameron and Tyler Winklevoss, received a patent for the creation of a system to increase the security of transactions. The application was filed in November and approved by the patent and trademark office on Tuesday. Authors Andrew Lucus, CEM Paya and Eric Weiner describes «software for secure transaction processing in cloud computing». The new development uses a combination of standard cryptographic techniques, including hash functions and digital signatures. «This invention is an improved technology of computer security. Today’s computer systems are subject to attacks using external data connections, whether the introduction of malicious code or unauthorized access to information. To the extent that, as computing systems are increasingly moving to a distributed architecture such as cloud computing, external data connections are often necessary for computer operation system,» the authors write, noting that the new system significantly reduces the risks associated with external connections. It is assumed that development can also be used for improvements owned by Winklevoss exchange Gemini.
Stablon Carbon raised $2 million in seed stage funding.
Thursday scriptually the Carbon project announced the completion of the investment round, which, among others, was attended by such funds like General Catalyst, Digital Currency Group, FirstMark Capital, Plug and Play Ventures and The Fund. Funds collected will be used to develop pegged to the dollar cryptocurrency on the platform of Hedera Hashgraph. As stated in the white paper of the project, due to the high volatility of cryptocurrency there is a need to stabilize, which can satisfy these «basic economic needs, like paying bills or buying coffee, not to mention more complex needs — loans and insurance». Co-founder of Carbon Connor Lin believes that the most famous stablon Tether, constantly causing suspicion of the community is a problem: «How can you win trust?» — Lin says. Carbon disclaims used in the Tether model reinforcement Fiat, replacing its algorithmic monetary policy. «If we create a mechanism that is now used by the Federal reserve Bank, but make it decentralized, we would not need to trust a Central authority. We can just trust the code,» explained Lin. The Carbon system consists of two tokens: stablein, the price of which must equal $1, and «credit token», which ranges in value, offsetting changes in demand. When the price falls stabilini, an auction is held, during which anyone can give their token, thereby reducing money supply and raising the price, and receive a «credit token». In the future, when the price rises above $1 and offer will increase, the holders of «credit token» will receive a new stabilini and this whole process is entirely performed by the algorithm. «Obviously, it’s an experimental and ambitious idea, but we believe that such an experiment is to hold,» said Lin. Recently about raising $125 million in the format of SAFT announced another project stablon — Basecoin — which also refuses to podkreplennost Fiat and hopes to control the price token with the «underlying shares» and «underlying bonds» within the so-called «algorithmic Central Bank».
Kadena raised $12 million in the framework of SAFT.
Platform smart contracts Kadena will Martino and Stewart Popjoy (formerly the leading developers of blockchain-project JPMorgan) on Thursday announced the completion of the second investment round in which participated Multicoin Capital, Devonshire Investors (a subsidiary of Fidelity Investments), SIG, Asimov Investments and SV Angel. Popjoy said that the funds raised will go to create a technical ecosystem platform Chainweb. Earlier, in January, in a private placement SAFT Kadena attracted to the creation of Chainweb $2.25 million. The developed Protocol uses the model of parallel blockchains, which allows you to distribute tasks without overloading the network. In this circuit are connected on the principle of Merkle tree and thus interact, being in the same blockchain system. «Apps like crypto-kittens can work on their own 5-6 circuits, and more voluminous events such as ICO, — will be held on a different circuit, while not slowing each other,» said Popjoy earlier. Run the test network was scheduled for August, and the release of the core network Chainweb to be held in December. However, as said Popjoy, by this time yet «to settle a number of issues». In particular, Kadena intends to release a number of tools that will be made publicly available and tested by users. For safety Popjoy emphasizes the need of formal verification in which «computer proves mathematically that the network has no vulnerabilities»: «the blockchain regularly turning to formal verification, usually after the major bugs in Ethereum» he said, Recalling the bug Parity, and noting that the smart contracts are often responsible for huge amounts of money.