Blockchain Competition

The crypto market is soon becoming crowded with new businesses that are centered on it. The technology or the blockchain for the cryptocurrency industry is of paramount importance. Even before talking about the value propositions of cryptocurrencies, it is the role of the blockchain that has to be understood first.

It is because of the volatile nature of the cryptocurrencies that most of the new ventures in the crypto market are mainly dealing with blockchain. Cryptocurrencies are merely the application of this fast-growing technology. The turnovers seen in this market are equally commendable. With such advantages in one’s consideration, it is only legit to have competitions rising in this sect.

Now, the competition in this fairly new sect is also rising. The need to cut an edge is also elevating. Some of the ways that can be adapted to stay relevant and kicking in the market are as follows-

  • Be the innovator

For a new market and a business in one such requires new innovation. A fresh flux of ideas is what is going to keep the business relevant. Considering the classic example of BitGo and the early days of Bitcoin, it used 2-3 multisig wallet technology and emerged as a pioneer. Not only did it store cryptocurrencies but it also helped in exchange for other enterprises.

 

  • Regulation and compliance

Regulatory compliance is one of the big advantages for existing businesses that see new entrants every day. They are completely compliant. National regulators demand more and more from financial institutions and start-ups are interested in investing in cryptocurrency. This means that they need to put in more to be fully in the circle of all regulations.

 

  • Refine processes

This means handling all processes in a new and improved way. The processes should be both internal which can involve any operations within the company and external which deals with the customers. The processes can only leverage up to provide more and more benefits. Perhaps adding on the provision of adding other cryptocurrency exchanges apart from its routine service can be an excellent method through which customers would keep in the usage of the company’s services.

 

  • Patent breakthrough and unique technologies

One of the biggest accounting and consultation giants Accenture subscribes to this method. They have a version of the blockchain which they solely claim to be theirs and no one else can sabotage that. The technology of the editable blockchain for example. It sounds like almost being untrue but it speaks of the stored data that is enabled with the provision of being able to be amended.

 

Competition is inevitable, but it is up to the companies to spot the void.

Largest Bitcoin Hack in Dollar Value

Investing in cryptocurrencies is not a cakewalk. The peripheral view of the gamete seems pretty alluring and attractive. It may be so but the costs of the odds are equally even. One must be thoroughly aware of all that is involved in the cryptocurrency business.

The values attached and the latest trends have to be studied on a regular basis to keep unpleasant scenarios at bay. There has been a fall in the cryptocurrency investments and that is mainly because of the increase in the number of fraudulent cases and hacks. The instability and uncertainty of the market drive many investors to pull away from making any further investments. Those who are existent investors have been subjected to immense panic and worry. The cryptocurrency market has seen some terrible hacks that have given reasons enough for people to frown upon the cryptocurrency market-

  • Binance

In May 2019, this buzzing bitcoin exchange was hacked off 7000 Bitcoins worth $40 million. The breach was possible as hackers could access the API keys of the users. Along with the private keys, the hackers also got access to 2FA codes. The hackers used various techniques to conduct the breach via phishing, viruses and other attacks. The team had issued a statement claiming that all the lost money will be recovered through their fund. It is one of the recent and value intensive loss that the cryptocurrency industry has faced so far.

  • Gox

This Japan-based Bitcoin exchange has been hacked twice. Once in 2011 and other in 2014. In 2011, the hacker was successful in collecting the credentials of the exchange’s auditor. 2609 Bitcoins were transferred to an address whose key was not known. This led to the suspension of the operations of Mt.Gox for some time but they could regain a foothold. Then again in 2014, when Mt.Gox was handling most of the world’s transactions, the amount stolen was huge enough to make the company go bankrupt. It reported a loss of 750,000 bitcoins which were of the worth around $350 million. All investors lost their funds and no recoveries could be made.

  • Bitfinex

This 2016 hack is considered the second-largest hack ever in the history of cryptocurrency. The breach claimed 170,000 bitcoins worth around $72 million. The hackers got a hand into the wallet form of the Bitfinex. Bitfinex however issued BFX tokens which were redeemable by investors.

Bitcoin Theft Iceland

It is said time and tide waits for none. But in today’s digital age, it’s time, tide and money that waits for none. Making the right sort of investments has become extremely crucial in such a capacity. To fetch the right kind of portfolio to park funds, a study is required. For something fairly as new as the cryptocurrencies, the odds are not quite in one’s favor.

To understand the world of cryptocurrencies what is actually a necessity is to be aware of what are the terms. How suitable is it for you? The cryptocurrency is not very famous among the trusted investments around the world. The Iceland bitcoin heist proves the lack of security and risk that investing in bitcoins comes with. Iceland’s loot of 600 powerful computers that dealt with cryptocurrencies is considered one of the most mammoth thefts in the state. Iceland emerged well with digital currencies due to the flourishing geothermal powers. This made Iceland quite susceptible to frauds and thefts. When something this large scale happens and the values of cryptocurrency is seen to fall starkly. It raises serious concerns about whether or not it is considered to invest in cryptocurrencies any further.

Fraud like this can be a big scare. Few things hence stand to be considered before investing in the cryptocurrency market-

  • Invest amount that can be affordable to lose

The only money that is spare and extra and does not pinch to be lost should be invested. Huge amounts with the aim of returns is a big no. The market is extremely volatile and is subjected to huge risks. Thefts like that of Iceland can be fatal for investors. There is no scope of any recovery.

 

  • Study well

Before going onto making any investment. A complete understanding of the market should be gained. The best way to do this is by not getting influenced first hand by people and doing your own research. Your financial capabilities must align with the sort of investment that you plan to opt for.

  • Diversify wealth

Not all the money should be vested under one type of investment. Some may be allotted to other areas like real estate, shares, mutual funds, deposits, etc. It is better to lose a quarter of wealth than everything at all. This step is extremely vital as many people commit the mistake of storing all the disposables in one place.

 

These three simple steps would help you be safe and secured to fight with unpleasant scenarios like that of the Bitcoin heist.

Israel Cryptocurrency

Israel is a country situated in the middle east on the banks of the Mediterranean Sea. Tax Authorities of Israel declared that bitcoin and other cryptocurrencies will not be considered as legal currency. But it would be considered while calculating the income tax. Gains received from the sale of cryptocurrencies are taxable @25%. Also, the individual who mines cryptocurrency and trades Bitcoin would be considered as a professional and they have to pay corporate tax on income & VAT @17%.

From the above, it is evident that the Israel government doesn’t encourage cryptocurrency trading but the recent trend of the uprising crypto market is really tough to avoid. Thus, in this article, we will talk about some of the top Israeli influencers of this market who are trying to revolutionalize the scene.

1) Eyal Hertzog- is an Israeli businessman who is the co-founder and project architect of Bancor ( a decentralized network deals in liquidity), which allows us to hold and convert any Etherium token.

2) Guy Benartzi- is also a co-founder of Bancor. He is the founder of AppCoin and some other networking tools.

3) Moshe Hogeg- He is the CEO of Sirin Labs (developed first open-source blockchain all-in-one PC & smartphone). Also, he is the co-founder & chairman of Singulariteam – Venture cap investment fund focused on blockchain-based cryptocurrency.

4) Meni Rosenfeld- Being the Chairman of the Israeli Bitcoin Association, he established the first bitcoin exchange of Israel, Bitcoin.

5) Guy Corem- Currently he is the CEO of DAGlabs (solves adaptability challenges using protocols). Also, he has experience working with Israeli and Global Bitcoin communities.

6) Galia Benartzi- She is the Business developer of Bancor Network belonging from Israel and also, the co-founder & VP of AppCoin.

7) Uriel Peled- An Israel born CEO of CoinTree, a leading cryptocurrency venture involved in investment banking and development of blockchains.

8) Leonid Beder- Israeli cryptography expert (system security, cryptocurrency system, blockchain protocols, implementations) associated with companies such as CoinTree, Kik Interactive and Orbs.

9) Nimrod Lehavi- Board member of Israel Bitcoin Association & CEO of Simplex, which facilitates Bitcoin exchanges, broker website, wallet app with full transaction security to sell Bitcoin by using a credit card.

10) Yoni Assia- Israel entrepreneur who is the founder and CEO of eToro (largest social media investment network) offering trade and investment in cryptocurrency.

Other than the above 10 prominent names, many other influencers in Israel contributed significantly to this cryptocurrency industry and escalated to its current revamped version. For this remarkable contribution of Israel, it has got the title of a startup nation of digital currency also.

Bitcoin Phishing

Bitcoin is the most popular cryptocurrency released in 2009. The sign of the currency is similar to Thai Baht. With the help of some popular cryptocurrency trading platform, you can trade in Bitcoin. The most important reason for Bitcoin’s tremendous popularity is its return rate. It has a record of providing a return of 142% within a year.

Now phishing can be described as a malpractice/scam which is done by sending an email to the target victim in the name of renowned companies. The purpose of this mail is to get the information from the victim to execute the fraudulent activity.

For example – you get an email in the name of your bank. The theme of the mail is the same as the mail you receive from your bank end. So, you didn’t doubt. The mail instructs you to click on a given link to reset your password on an immediate basis for security purposes. Hence you clicked the link to do so. Then it will pop-up a window that looks accurately identical to your bank portal where your bank user name and password are asked. Normally you will enter the user name and password then the page will be broken or show some message to try again later. Now they have your net banking credentials to proceed with the scamming activity.

Apart from this, the attacker can also corrupt some popular websites and build pop-up dialogue boxes to have the login information or it can simply happen due to mistaken installation of any ransomware or malware.

Therefore Bitcoin phishing can also be defined in a similar way where the scammer steals your user name and password by deceiving you and utilize that information to steal all your investment.

Preventive Measures to Avoid Bitcoin Phishing:

Related companies and service providers should educate and make their customers and clients aware of this kind of attack. Also, users should be trained to identify phishing emails, links and attachment files. Cyber invaders always update themselves for newer theft techniques. So, you should also keep updating your knowledge.

Here are some signs by which you can identify a phishing mail:

  • Unbelievable offers /discount is stated to attract the customer.
  • The sender mail address(domain) will be not linked with the website.
  • Spelling mistakes and grammar errors will be there.
  • Fear of security and account closure are stated to make you hurry.
  • Some links will redirect you to a different website when clicked on.
  • You might receive fishy attachments or some without any preview.

Finally, we could conclude that awareness is the only way to be in a safe zone. Also, you can try the two-step verification process, web browser filters to avoid high-risk mails or biometric login options, OTP based login options to avoid such a scenario.

Where Can I Buy tZERO Token

tZERO is a blockchain platform and cryptocurrency introduced by Overstock. It has been given the title of ATS (Alternative Trading System) and it is regulated by SEC (Securities & Exchange Commission). This organization offers ATS and token both as a cryptocurrency. Tokens are the digital version of conventional securities –such as a bond, equities, and options. This platform allows buyers and sellers to transact with the help of the dark pool. The transactions are recorded in a blockchain. The companies, offering ICO, use the platform of tZero.

Feature of tZERO Token:

1) You can download the app CRYPTO into your phone to trade effortlessly. It simplifies the trading process and provides security during third party exchanges.

2) It has proprietary recovery technology, which means if you lose your phone, you can still recover your account.

3) It complies with all US laws enforced by the SEC.

4) It has been secured by biometric authentication. So, if you forget your password you don’t need to worry about the recovery process.

5) Charges are a 1% fee flat on all trading transactions. Plus there is a network fee.

6) The interface is simplified and tips are given so that a person with no knowledge of trading can also trade using the app.

Steps to Buy tZERO Token:

Step1: Choose an ICO project. Register for that project through the project website. Here, you will get the details about the project goals, amount required for investing, tenure of the project, etc.

Note: ICO projects that don’t ask for registration can be a part of scam or fraud. Though it might be a legal ICO, usually authentic ICO has a mandatory registration process.

Step2: You need to own/buy Bitcoin or Etherum to be eligible to buy tokens. The minimum amount to be invested would be mentioned in the project details section. Usually, it stays between $10 to $100.

Step3: Shift the Currency into the wallet of your choice from where you want to buy the tokens.

Step4: Now after the successful registration, your tokens are ready and your funds too. Now you have to send the cryptocurrency to the project account to get the ICO allotted.

Step5: After successful receipt of the cryptocurrency, the token will be transferred to the wallet.

Step6: Now you have to store the tokens safe and secure into the wallet.

tZERO token is getting a popular investment option day by day. The organizations are issuing ICO to gather funds for the projects. So, it can be an easy and convenient way to invest.

The Magic of Digital Assets

We have come a long way. From the officious banks and their bureaucratic high handedness to an almost anonymous system, part of a decentralized mechanism, transferring tokens between peers at lightning speed and no extra cost. We have indeed come a long way.

So what are Digital Assets?

Types of digital assets include, but are not exclusive to photography, logos, illustrations, animations, audiovisual media, presentations, spreadsheets, word documents, electronic mails, websites, and a multitude of other digital formats and their respective metadata.

Due to its lack of form and shape, digital assets become a hard target to manipulate.

Is cryptocurrency a digital asset?

Cryptocurrencies are digital assets designed to facilitate peer-to-peer financial transactions and smart contracts on the internet in a decentralized manner. This was first accomplished by solving the “double-spend” problem and by using advanced cryptography and programming.

Cryptocurrencies record transactions on public ledgers known as “blockchains” and are the first form of digital money where an intermediary is not required to send funds from one person to another person.

Cryptocurrencies do not have a physical location; wallets do not hold cryptocurrencies. Wallets only hold the cryptographic keys needed to access one’s cryptocurrencies on the relevant blockchain.

Cryptocurrencies do not actually “move” anywhere when you send or receive them. They just change ownership on the respective blockchain, which is stored on nodes all over the world and secured using cryptography. Anyone with the right resources can set up and run a node.

Due to blockchains being public, cryptocurrencies are only pseudo-anonymous. A common goal for many cryptocurrencies is to improve privacy for users, though only some cryptocurrencies make this their main focus.

The rise of Bitcoin has spawned an entire universe of cryptocurrencies. What started as a simple peer to peer transaction has now transformed online trading. From a secured digital wallet to platforms that allow newer tokens to be created, the ubiquitous crypto is now a full-fledged workhorse.

Moreover, with Digital assets becoming a large part of the monetized inventory of most organizations, cryptocurrency being a purely digital asset itself, has finally found its place on the Sun.

However, one should not confuse between crypto-assets and cryptocurrencies because not all crypto assets are cryptocurrencies but all cryptocurrencies are definitely crypto assets.

The slow and steady march of technology has ensured that change is the only constant. Without it, redundancy will set in.

Cryptocurrency and the International Law

We live in a globalized village where economies are open enough to embrace changes. Every country is connected to another in some way or another.  Our fascination stems from the interest we have on cryptocurrencies and how it has the potential to turn mere cities to the citadel of tomorrow.

In the present era, nations are opening up their doors for other nations. Economic transactions are being global. This is the reason that there is a development of international trade law. International trade law is a set of rules and regulations that provide a manner to do international trade. As the name implies people of more than one nation involves in international trade, the same is a required to be controlled by law. On the other side, the world is being cashless and is developing the focus towards being digital. Cryptocurrency is one of the examples of such digital activity. It is a digital asset that people use as a medium of exchange. Such currency uses strong and high cryptography in order to secure financial transactions, verify the transfer of assets and control the issue of creation of additional units. In the presented research papers, research will be done on various aspects related to cryptocurrency and international trade law including the impact of subjective currency on international trade law.

International laws are primarily meant to safeguard individual nations from falling prey to malpractice. It covers a vast spectrum of subjects ranging from shipping to double taxation. With the financial horizon changing with the advent of cryptocurrency, international laws to have widened their horizon to include it as a subject. This is even more pertinent because cryptocurrency transfers do happen across borders.

Before discussing the impact of cryptocurrency on international trade law, first to discuss the relation of cryptocurrency with international trade. People often use this currency in international trade because of different exchange rates. Such currency brings a loss of benefits to those who are into cross-border transactions. The other reason behind the use of cryptocurrency is the security offered by the same. Transactions using cryptocurrency are almost free from the charges of tax. In addition to this all, the transaction remains properly recorder for all future references. However, this would not be right to state that the use of cryptocurrency only has positive impacts on international trades. Cryptocurrency is not valid in all the countries and hence the same cannot be used in every transaction.

Cryptocurrency tutorials

To the enthusiast who wishes to understand the nitty-gritty of cryptocurrency trading, there is a wealth of information available in the virtual world. That is not to say that offline resources aren’t available. There are plenty. So the idea is to focus on the core subjects, master them and then move on to the next topic.

Cryptocurrency is a vast subject. Each token brings with itself a unique feature that needs in-depth understanding. And not just cryptocurrency but the premise on which it stands: blockchain. It can become limiting if the basic building block is not understood properly.

One of the best (and worst) things about bitcoin, blockchain, and cryptocurrencies is just how new the technology and its practical implementations are. Even though there have been many early adopters, the ecosystem as a whole involves a lot of learning, especially for those looking to come up to speed.

Let’s quickly look at some of the resources available:

DFIN 511: Introduction to Digital Currencies (Offered By UNIC)

This free online course is taught by Andreas Antonopoulos (author of Mastering Bitcoin) and Antonis Polemitis and it represents the first course in the MSc in Digital Currency offered by UNIC. The course places bitcoin and cryptocurrencies in the broader framework of the history of money, before talking about the practical implementation of bitcoin, other cryptocurrencies, and the evolving relationship between digital currencies and financial institutions, as well as the broader world.

Coinbase Learn

This simple set of interactive flashcards is a great resource for those who want to cover the basics of cryptocurrencies, from buying and selling to mining in a short amount of time. Other than a slight advertisement of Coinbase as safe and regulated, the mini-course remains an objective resource that covers a lot of ground in a surprisingly intuitive and short fashion. A great resource to share with absolute beginners who have little time on their hands and want to get up to speed fast.

Coursera (Bitcoin and Cryptocurrency Technologies) Offered By Princeton University

This free Coursera course introduces basic cryptography concepts and then links them to the basics of Bitcoin. Through videos, the course lecturer explains how decentralization is implemented in practice, how Bitcoin mining works, and how Bitcoins are stored. A short explanation is then given to altcoins and the future of the space.

This is by no means an exhaustive list. Just dive into this vast ocean and start swimming.

The Tone Vays Indicator: A review

The Tone Vays Indicator is one of the most respected daily trackers in the cryptocurrency community.

This custom-built Indicator Script is programmed for and designed to be used inside the Trading View platform. If you do not have a Trading View account, please create an account It is a free account. It can be applied to multiple asset classes such as Equities, Bonds, Commodities, and Cryptocurrencies (Bitcoin and many other altcoins). This indicator can be utilized on any timeframe and can also be applied to custom created candlestick sessions and in various time zones throughout the world. This makes it one of the most versatile indicators in the market, currently.

The Tone Vay is inspired by the world-renown TD Indicator & Sequential System from the early 1990s and consequently improved upon. This Sequential Indicator was originally conceived in the 1970s, by hand, through a tedious process of trial and error. Tone’s TI Indicator is remarkably accurate with defining the trend and identifying choke points. One of the many differences in this version is the elimination of the “Price Flip” being a necessary condition to start a “Setup.”

This was originally created to analyze daily price data. More than 30 years later, from one minute to one year, this indicator can be applied on any timeframe and can also be applied to multiple asset classes. Since the majority of people are followers of a trend, it’s hardly surprising that “the trend is your friend” is one of the most widely quoted.  While it may seem counterintuitive, given that most people do follow trends, this indicator attempts to isolate prospective choke points in ranges, to anticipate market highs and lows when it believes prices are overbought or oversold and during trends when sentiment is invariably at an extreme.

Even for those who are not interested in the technicals, Tone’s TI Indicator can be helpful for market timing purposes, as an adjunct to your existing arsenal of trading tools. Traders oriented to fundamentals find this helpful to determine take-profit levels when they would otherwise be depending on a less-efficient price-reversal pattern to close out a profitable position. Tone’s TI Indicator also highlights, at the time the signal is generated, points where one should refrain from establishing or adding to an existing position in the direction of the underlying trend. Once conversant with the methodology, you can also use the TI Indicator to fade trends.