Building the blockchain community is essential for further developments
The power of a strong community in scaling blockchain-based projects should not be understated.
Cryptocurrency was built on the premise that a reimagined financial system could exist. It was brought to life by a community that supported these ideals and worked tirelessly to bring them to fruition.
As the blockchain community grows, so does the recognition that cryptocurrency is important. According to Big Four audit firm Deloitte’s “2020 Global Blockchain Survey,” more than half of those surveyed believe that digital assets will be very important, while almost 89% of respondents feel that digital assets will be important to their industries in the next three years.
Cryptocurrency remains the priority for the blockchain space within traditional financial hubs, such as Hong Kong SAR and Singapore, as outlined in Deloitte’s report. Such growing acceptance and support for blockchain and digital assets globally have proved to be important to adoption and advancements within the ecosystem.
The community has played a pivotal role in developing blockchain technology and cryptocurrencies since their inception. It is now imperative that the industry continues to recognize the important role the community will play in the further development and adoption of the digital asset space. There is still much that the industry as a whole can do to further spur growth within the community.
Cryptocurrencies were designed to be decentralized without any connection to a centralized third party. Forming the bedrock for cryptocurrencies like Bitcoin (BTC), decentralization allows users to transact digital assets directly with another user without the need for a third party, like a bank, to be involved.
This has led to a decentralized form of finance that enables a more open and transparent financial system supported by decentralized technologies like blockchain. Decentralized finance provides more inclusive access to financial services and credit at a lower cost. This includes smart contracts, protocols, decentralized applications and digital currencies, such as Bitcoin and stablecoins, notably Tether (USDT), whose growing usage in DeFi is indicative of the pivotal role that it plays in the nascent sector.
Decentralization also sees projects driven by community ideals, ensuring a free flow of information within the community. Community-driven development has given developers control over the development process, while the resources and decision-making authority are directly in the hands of the community.
There have been many examples of projects and exchanges in the industry that have taken a community-first stance to development, product offerings and overall day-to-day operations. For example, the ethos of Bitfinex has always been to remain driven by its community and to be designed for its community. Bitfinex is now one of the most advanced and most liquid exchanges in the world.
Polkadot built a community of anticipated followers and is now expected to be the most anticipated project since Bitcoin and Ethereum, which is transitioning to Ethereum 2.0 with the support of its dedicated community.
An important sub-community is crypto traders. Understanding the needs and feedback of trading communities, many projects and exchanges are now focused on creating a place for traders to communicate with one another. This has helped the industry flourish while creating a pathway for new tokens, projects and digital assets.
This focus on community building has led to the creation of crypto-centric social networks, such as Bitfinex Pulse, and has led to the creation of Reddit communities for nearly every project in the industry. These platforms have opened up a dialogue for the next generation of traders, facilitating a free flow of ideas and providing real-time, high-quality market intelligence for the benefit of the entire trading community.
Ultimately, innovation comes from outside and within. Innovation is vital within industries because it gives companies an edge in penetrating markets faster. Innovation can also provide better connectivity to developing markets, possibly leading to bigger opportunities. Listening to the opinions and needs of the community can facilitate and accelerate innovation within an industry.
The pressure to innovate, challenge and self-disrupt are intense, especially as the blockchain industry transforms at an exhausting rate.
By taking the time and effort to build and listen to the community, companies and industries can tap into a pool of diverse voices and new ideas to drive innovation. The same is true for the blockchain industry as well.
Building the blockchain community has led to many new innovations and further adoption of blockchain technology and cryptocurrencies. This intense focus on community building can only help the digital asset space to fulfill its immense potential.
The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Paolo Ardoino joined Bitfinex at the beginning of 2015 and now serves as its chief technology officer. After graduating from Genoa’s Computer Science University in 2008, he started working as a researcher for a military project focused on high-availability, self-recovering networks and cryptography. Interested in finance, Paolo began developing financial related applications in 2010 and founded Fincluster in late 2013. Backed by two financing investment rounds, Fincluster delivered an advanced, modern and accessible web platform serving different clients with customization capabilities.
The post Building the blockchain community is essential for further developments appeared first on BTC Ethereum Crypto Currency Blog.
Author: By TeamMMG
Mitek, Lightico Team On Secure Text Transactions
Mitek, which presents digital id verification providers, has partnered with Lightico, which works within the discipline of id verification and eSignatures, to offer a brand new method to full transactions over a textual content message, an organization blog post said.
Lightico, utilizing a safe platform, can permit companies to “acquire types, paperwork, eSignatures, pictures and funds, consent to disclosures and confirm identities immediately through textual content, even whereas the shopper is on the cellphone,” the submit said.
Lightico makes use of Mitek’s Cellular Confirm with Face Evaluate to authenticate the id of these utilizing its service, which supplies safety, the submit said. It additionally makes use of Mitek’s Cellular Fill for a similar goal.
Identification verification has been some extent of thorny rivalry because the world has moved extra into the digital age, because of the immense potential for fraud to happen, PYMNTS reported final yr. Stephen Ritter, Mitek’s chief expertise officer, stated gig financial system apps are significantly ripe for it resulting from their recognition. He contested that, whereas ridesharing apps are extra handy than the previous methods of doing issues, the short, straightforward identification course of means it is also straightforward for fraudsters to take benefit.
He stated no firm can actually remove all fraud, however it’s potential to mitigate it as a lot as potential, significantly as clients proceed to develop into extra cautious of their knowledge falling into the flawed arms.
To mitigate the danger of fraud, Ritter stated a few of the pace and ease of the gig financial system firms may need to be compromised, utilizing extra layers of safety, together with a number of factors of ID verification and pictures of essential paperwork.
Ritter additionally spoke of a “funnel” strategy by which clients will be let in with little bother greater than an electronic mail entry, as long as their data would not elevate any crimson flags. New synthetic intelligence (AI)-powered ID verification is usually so good that it turns into one of many higher methods to confirm somebody’s id.
Sanjay Gupta, Mitek vp and head of Product and Company Growth, stated Lightico and Mitek each share the identical objectives of attempting to make digital transactions “safe, easy, environment friendly,” the weblog submit said.
Russia Blocks Cryptocurrency Websites Ahead of Regulation
Russian authorities have blocked a number of websites related to cryptocurrency ahead of the country’s crypto regulation taking effect. A popular exchange aggregator website has already been blocked twice and has now received a third notice.
Russia’s Federal Service for Supervision of Communications, Information Technology and Mass Media (Roskomnadzor) has blocked popular Russian cryptocurrency exchange monitoring website Bestchange.ru for the third time. The platform informed its users via Facebook on Wednesday:
Dear subscribers, our Bestchange.ru domain has again been blocked in the Russian Federation. Unfortunately, regional prosecutors continue to sue to block Bestchange and other sites for mentioning the bitcoin cryptocurrency.
Bestchange.ru further explained that it had been investigating how to unblock its domain but testing may take some time. The free website helps users find the best offers online, including the best rates for cryptocurrencies, electronic money, and internet banking. The service, launched in 2007, is not restricted to just cryptocurrency.
According to bits.media, this is the third time Roskomnadzor has blocked Bestchange.ru. The first time was in 2017, which was canceled in 2018. The second time was in March last year when the Kuibyshevsky District Court of Omsk issued an order to block Bestchange.ru along with other cryptocurrency exchange websites. It was canceled in May of the same year. “According to a court ruling, information about bitcoin was considered prohibited, as it contradicted federal laws of the Russian Federation,” the publication noted.
The third time started when the Kotlas city court ordered the blocking of seven cryptocurrency websites in January. Roskomnadzor reportedly received the court decision on June 23 and immediately sent out notices about the blocking.
The publication reported on June 24 that the owners of the sites bitok.shop, lavka-flowers.ru, cryptorussia.ru, prostocoin.com, cryptowikipedia.ru, bestchange.ru and coinpost.ru received notifications that they “distribute information prohibited in the Russian Federation” and will be included in Roskomnadzor’s registry of blocked websites. In addition, news.Bitcoin.com previously reported that six crypto websites and two news sites were blocked by the Russian media watchdog.
Bestchange.ru did not shut down, however, as the management decided to appeal the court decision. The court is expected to pass the case to a higher court on Aug. 27. Nonetheless, Roskomnadzor sent out another notice on Aug. 26 about the blocking of the site.
According to the news outlet, Roskomnadzor’s action is not related to the crypto regulation recently signed into law by President Vladimir Putin, which will enter into force on Jan. 1 next year. The new law gives legal status to cryptocurrency but prohibits its use for payments of goods and services.
What do you think about Russia blocking crypto-related sites? Let us know in the comments section below.
The post Russia Blocks Cryptocurrency Websites Ahead of Regulation appeared first on Bitcoin News.
So you should must roll your own crypto?
A coworker of mine asked:
>How are of us speculated to be taught (from errors) if they accumulate now now not roll their very own crypto?
The immediate acknowledge is attain roll your own crypto, nonetheless accumulate now now not exercise it in production unless or now now not it’s vetted by mavens. The long acknowledge below could utilize just a few years to hash out.
Making errors is an unavoidable section of the educational process. I’ve been rolling crypto for Google production for years, nonetheless my code is now now not trojan horse free and will must light by no come be. I discovered that the cheapest come to be taught from errors is to be taught from other of us’s errors. I point out taking Cryptography I, doing CTFs, and fixing crypto challenges. This obtained’t utilize long, and in actuality mercurial you would be reasonably unhealthy because you’d have the facility to gather many crypto bugs.
Nonetheless or now now not it’s just the starting up. When I obtained to Google, I thought I knew crypto because look at your whole bugs I discovered! I used to be so coarse. It took me years to be taught the tradecraft from the precise specialists which fortunately my employer has tons.
They state you should have the facility to change into the next programmer by discovering out correct code. Sadly, I’ve realized the onerous come that this rule on the final doesn’t work in crypto, for 3 reasons:
There could be no shortcut comparatively than studying the basics. It’s now now not onerous, nonetheless it takes time. About a sources that you just can prefer to have a look at:
The droll thing is that after spending years discovering out these sources, you light don’t have a free inch to roll your whole crypto on the earth. You are going to assign and esteem that crypto is a deep and mammoth discipline of look with a in point of fact long food chain. Sitting on high are cryptanalysts who
and at the underside are tool engineers preferring to encrypt some recordsdata. Along the chain, you can gather of us who
The division is now now not continuously decrease, as there are of us who build on multiple hats. The item is, except you accumulate to the very high, there are continuously correct reasons now now not to roll your own crypto. The reasons are on the final non-obvious, unknown unknowns. I’ve seen a necessary engineer arguing that they weren’t rolling their very own crypto, because they didn’t enforce AES from scratch nonetheless called OpenSSL.
So whereas you should must roll your own crypto, make certain you assign where you is inclined to be within the crypto food chain and what are the explanations combating you from transferring up. Search for and build away with talked about reasons. Real luck and have relaxing!
Be taught Extra
Author: By News Himalaya
Ethereum Classic suffers another 51% attack
August 30, 20200 Comments
The Ethereum Classic (ETC) network was hit by another 51% attack on August 29, causing the reorganization of more than 7,000 blocks just weeks after proposing security upgrades.
In a tweet, Ethereum Classic confirmed the attack and promised it is working on potential solutions to the problem.
“While ETC is still making progress in evaluating proposed solutions, we are aware of the current risk to the network at these low hash rate levels. To miners, exchanges, and other service providers we suggest keeping confirmation requirements levels well above 7K for now.”
The attack comes a few weeks after developers proposed changes to the network over the next three to six months in hopes of warding off further incursions. Immediate actions include a defensive mining cooperation with mining pools to maintain consistent and even increased hashrates, advanced network monitoring, whitelisting addresses and a finality arbitration system to inhibit chain reorganization.
ETC said in another tweet it’s currently at “~3% of the overall network hashrate” and is aware that repeated attacks may occur while testing out these changes.
This month alone saw Ethereum Classic suffer at least two 51% attacks before this latest one. Some exchanges like OKEx, alarmed at the constant attacks, even warned ETC it will delist it if security is not beefed up.
Author: by admin