5 blockchain trends to watch for in 2018 | The Enterprisers Project

https://enterprisersproject.com/article/2017/12/5-blockchain-trends-watch-2018?sc_cid=7016000000127ECAAY

Few new technologies have raised as much discussion as blockchain. One reason is the controversy, concern, and perceived opportunity around blockchain-based cryptocurrencies (such as bitcoin and ether) and crowdfunding via initial coin offerings (ICOs). But what is blockchain’s role in the enterprise? 

This article gives some ideas to think about. Take those trends with grain of salt. There will be a crash ans bubble burst on blockchains in few years.

615 Comments

  1. Tomi Engdahl says:

    Crypto Exchange Says It Can’t Repay $190 Million to Clients After Founder Dies With Only Password
    https://gizmodo.com/crypto-exchange-says-it-cant-repay-190-million-to-clie-1832309454?utm_medium=socialflow&utm_source=gizmodo_facebook&utm_campaign=socialflow_gizmodo_facebook&fbclid=IwAR3ONRQeAjOXToXPIEMXZiORzXAKdyPl-nVhPXVGJSoq51bbU2hpjbgj1Zw&fbclid=IwAR0l5TXXxTD52khaAB2IUESZTw6YBFToN_lu9afiRkW4_xFEFYAZl4nwRAE

    Canadian crypto exchange QuadrigaCX says it cannot repay most of $190 million in client holdings after its 30-year-old founder Gerald Cotten, the only person who knew the passwords to its “cold storage,” unexpectedly died in India in December 2018, Coindesk reported on Friday.

    Reply
  2. Tomi Engdahl says:

    Jeff John Roberts / Fortune:
    Crypto exchange Kraken acquires British trading startup Crypto Facilities in a deal worth at least $100M, says it is raising $100M from its largest customers

    Crypto Exchange Kraken Raises $100 Million, Acquires London Futures Firm
    http://fortune.com/2019/02/04/kraken-crypto-facilities-jesse-powell/

    Reply
  3. Tomi Engdahl says:

    Aaron van Wirdum / Bitcoin Magazine:
    Chainalysis: two hacker groups are responsible for almost 60% of publicly reported cryptocurrency hacks and stole around $1B to date

    Chainalysis Report: Two Groups Responsible for Most Publicly Reported Hacks
    https://bitcoinmagazine.com/articles/chainalysis-report-two-groups-responsible-most-publicly-reported-hacks/#1549061135

    Two “prominent professional hacking groups” are responsible for the majority of publicly reported hacks of cryptocurrency exchanges and other cryptocurrency organizations, concludes a report published by blockchain data analytics firm Chainalysis this week. According to the report, simply called the Crypto Crime Report, the groups generated around $1 billion of hacking revenues for themselves so far.

    “Hacking dwarfs all other forms of crypto crime, and it is dominated by two prominent, professional hacking groups,” the report states. “Together, these two groups are responsible for stealing around $1 billion to date, at least 60% of all publicly reported hacks.”

    Reply
  4. Tomi Engdahl says:

    Daniel Heyman / Hacker Noon:
    Looking at 2017′s crypto frenzy through the lens of Carlota Perez’s tech life cycles: blockchain is likely in the “gestation” stage and more bubbles are coming

    Why Blockchain Differs From Traditional Technology Life Cycles
    Why another bubble is likely and what the blockchain space should focus on now
    https://hackernoon.com/why-blockchain-differs-from-traditional-technology-life-cycles-95f0deabdf85?gi=8186998b64ea

    Reply
  5. Tomi Engdahl says:

    Zcash Discloses Vulnerability That Could Have Allowed ‘Infinite Counterfeit’ Cryptocurrency
    http://fortune.com/2019/02/05/zcash-vulnerability-cryptocurrency/

    On March 1 of last year, Ariel Gabizon was tidying up a presentation he was preparing to deliver the following day at a financial cryptography conference on the Caribbean island of Curaçao when he spotted a seemingly small mathematical mistake that could, he realized, jeopardize billions of dollars in capital.

    Ultimately, an attacker could have exploited the vulnerability to mint an infinite amount of counterfeit Zcash—as well as any other cryptocurrency that relied on its cryptographic technology—and no one would have been the wiser.

    team patched the security hole in October, roughly eight months after its initial discovery. “We don’t believe that there was any exploitation of the vulnerability”

    The Zcash team, which conceded that it cannot be absolutely certain that the vulnerability wasn’t exploited

    The team limited the number of people in the know, used encrypted communications, and carefully selected confidantes

    While Zcash and a couple of the other top affected cryptocurrencies have patched their systems, not every project susceptible to the bug had a heads up. Indeed, some projects appear still to be vulnerable, raising questions about the proper way to handle vulnerability disclosure in the cybercoin era.

    Coordinating a fix
    When Zcash researchers first discovered the counterfeiting vulnerability, they faced a dilemma. They could disclose the bug immediately, inciting chaos and panic and opening a number of cryptocurrency-related projects—including theirs—to attack, or they could keep the bug between themselves, create a fix, and sneak it into a planned network upgrade, only later quietly looping in other affected parties

    The team opted for the latter approach

    Reply
  6. Tomi Engdahl says:

    Leigh Cuen / CoinDesk:
    Winklevoss’ crypto exchange Gemini has reportedly been shutting down accounts after large redemptions of its stablecoin, GUSD

    Winklevoss Exchange Gemini Shuts Down Accounts Over Stablecoin Redemptions
    https://www.coindesk.com/winklevoss-crypto-gemini-gusd-stablecoin-redemption

    Two over-the-counter trading desks say their accounts at Gemini, the crypto exchange founded by U.S. investors Cameron and Tyler Winklevoss, were abruptly closed without explanation over attempts to redeem GUSD, the company’s stablecoin first introduced in September.

    The claims leveled against Gemini by the OTC desks, relayed under anonymity due to fears of reputational damage, hint at the business practices developing within the stablecoin market itself, now estimated to be worth nearly $3 billion.

    In one instance, email correspondence obtained by CoinDesk shows an OTC trader based in Latin America had his account closed after he informed Gemini that he planned to redeem several million dollars of GUSD.

    According to the trader based in Latin America, Gemini pitched the company on a discount deal that offered his firm the ability to buy tokens at below market value.

    When the desk later acquired GUSD from its own network, the trader said he was warned by Gemini staff that redeeming millions of dollars would harm the stablecoin.

    Iced out

    The fact that cryptocurrency traders are frustrated with Gemini’s offering is perhaps nothing new, as the exchange isn’t shy about its preference for institutional Wall Street traders, even launching a pricey ad campaign this year to promote itself as a “regulated exchange.”

    Reply
  7. Tomi Engdahl says:

    Securing Crypto Assets on the Blockchain with Vaultify Trade
    https://semiengineering.com/securing-crypto-assets-on-the-blockchain-with-vaultify-trade/

    How blockchains work and how to secure them.

    Securing Crypto Assets on the Blockchain with Vaultify Trade
    https://info.rambus.com/securing-crypto-assets-on-the-blockchain-with-vaultify-trade

    Download this eBook to:

    Learn how the blockchain works
    Understand how tokenization can be used to secure the blockchain
    See how Vaultify Trade can protect crypto assets as well as be implemented within trusted, familiar environments

    Reply
  8. Tomi Engdahl says:

    Mine Cryptocurrencies Sooner, Faster, and Cheaper with Achronix Speedcore Embedded FPGAs
    https://semiengineering.com/mine-cryptocurrencies-sooner-faster-and-cheaper-with-achronix-speedcore-embedded-fpgas/

    How to gain an edge over competing solutions.

    New cryptocurrencies such as Monero introduce ASIC-resistance and memory-hardness to prevent ASICs from being built that give some operators a competitive mining advantage over others who do not have access to the same technology. This white paper discusses the relevant background and presents a solution based on Achronix Speedcore embedded FPGAs (eFPGAs), enabling users to regain a highly profitable advantage over competing solutions.

    Mine Cryptocurrencies Sooner, Faster, and Cheaper with Achronix Speedcore Embedded FPGAs (WP014)
    https://www.achronix.com/doc/mine-cryptocurrencies-sooner-faster-and-cheaper-with-achronix-speedcore-embedded-fpgas-wp014/?t=27&d=1

    Reply
  9. Tomi Engdahl says:

    Robert Hackett / Fortune:
    Zcash discloses a flaw, first discovered in-house last March and fixed in October, that may have allowed “infinite” counterfeiting

    Zcash Discloses Vulnerability That Could Have Allowed ‘Infinite Counterfeit’ Cryptocurrency
    http://fortune.com/2019/02/05/zcash-vulnerability-cryptocurrency/

    On March 1 of last year, Ariel Gabizon was tidying up a presentation he was preparing to deliver the following day at a financial cryptography conference on the Caribbean island of Curaçao when he spotted a seemingly small mathematical mistake that could, he realized, jeopardize billions of dollars in capital.

    Reply
  10. Tomi Engdahl says:

    Maybe he faked his death and ran off with the money?

    MONEY
    February 9, 2019 6:00 am Updated: February 9, 2019 8:15 pm
    Researchers find little trace of Quadriga’s stuck millions on the blockchain
    https://globalnews.ca/news/4939819/quadriga-no-cold-wallets-blockchain-analysis/?fbclid=IwAR29qmYzgIiSOXxI_Yij-Xu2z_-0h0CkkPDM8EYhruVE5j0CzDqAHLkxEgA

    On Feb. 5, Nova Scotia Supreme Court Justice Michael Wood granted QuadrigaCX’s application for creditor protection. The embattled cryptocurrency exchange says it cannot access some $180 million worth of customers’ cyrptocurrency stored in virtual safes that may only be accessible through its defunct CEO’s encrypted laptop.

    The court has ordered Ernst and Young, which has been appointed monitor in the proceedings, to take possession of the laptop.

    Cotten ran the company’s business from his laptop and was exclusively responsible for transferring money between hot and cold wallets. He was Quadriga’s sole officer and director, according to the court filings.

    When Galka analyzed Quadriga’s history of transactions in Ethereum, he found no evidence of cold wallets holding millions.

    There are about 60 million accounts on the Ethereum blockchain and only around 20 that hold the balance that Quadriga claims to have. But none of them seem to belong to the exchange, Galka said.

    Reply
  11. Tomi Engdahl says:

    Lily Hay Newman / Wired:
    Amber Authenticate is a new tool built on Ethereum that generates hashes of a video and records them on a public blockchain to protect it from deepfakes — VIDEO HAS BECOME an increasingly crucial tool for law enforcement, whether it comes from security cameras, police-worn body cameras, a bystander’s smartphone, or another source.

    A New Tool Protects Videos From Deepfakes and Tampering
    https://www.wired.com/story/amber-authenticate-video-validation-blockchain-tampering-deepfakes/

    Video has become an increasingly crucial tool for law enforcement, whether it comes from security cameras, police-worn body cameras, a bystander’s smartphone, or another source. But a combination of “deepfake” video manipulation technology and security issues that plague so many connected devices has made it difficult to confirm the integrity of that footage. A new project suggests the answer lies in cryptographic authentication.

    Called Amber Authenticate, the tool is meant to run in the background on a device as it captures video. At regular, user-determined intervals, the platform generates “hashes”—cryptographically scrambled representations of the data—that then get indelibly recorded on a public blockchain. If you run that same snippet of video footage through the algorithm again, the hashes will be different if anything has changed in the file’s audio or video data—tipping you off to possible manipulation.

    Users need to set the interval to balance system constraints on devices with what a camera may be filming. Creating hashes every 30 seconds on a police body camera might allow quick and subtle, but still potentially impactful, manipulations to slip through. Setting the interval to every second on a small business’ surveillance camera might be overkill.

    https://app.ambervideo.co/public

    Reply
  12. Tomi Engdahl says:

    Radio Hams transfer Crypto ( BitCoin ) Currency on 40m band
    https://qrznow.com/radio-hams-transfer-crypto-bitcoin-currency-on-40m-band/

    CryptoVibes reports amateur radio was used to send Bitcoin from Toronto to Michigan on 7.077 MHz using the digital mode JS8Call

    The transfer was made on February 12

    This is believed to be the first transfer of a Bitcoin across national borders using amateur radio.

    Reply
  13. Tomi Engdahl says:

    JP Morgan is rolling out the first US bank-backed cryptocurrency to transform payments business
    https://www.cnbc.com/2019/02/13/jp-morgan-is-rolling-out-the-first-us-bank-backed-cryptocurrency-to-transform-payments–.html

    Engineers at the lender have created the “JPM Coin,” a digital token that will be used to instantly settle transactions between clients of its wholesale payments business.
    Only a tiny fraction of payments will initially be transmitted using the cryptocurrency, but the trial represents the first real-world use of a digital coin by a major U.S. bank.
    While J.P. Morgan’s Jamie Dimon has bashed bitcoin as a “fraud,” the bank chief and his managers have consistently said blockchain and regulated digital currencies held promise.

    Reply

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