Neo Foundation Shows Amazing Features Of Neo3: File Storage And Digital Identity.

Neo Foundation Shows Amazing Features Of Neo3: File Storage And Digital Identity.

In an open letter today to members of the Neo community, the Neo Foundation reflected on the past four years of activity and poked fun at its plans for the future: Neo3, the third iteration of its smart contract-enabled blockchain, which will feature file storage and D- Identification functions (digital or decentralized identity).

Neo, the 22nd largest cryptocurrency by market cap, has enjoyed a strong year, having successfully launched a cross-chain interoperability product in collaboration with Ontology and Switcheo.

Furthermore, the so-called ‘smart economy’ platform’s foray into the summer craze by DeFi was equally successful: Binance and Neo’s joint effort, Flamingo Finance, peaked at more than $1.5 billion TVL on their product. Mint Rush Yield Agricultural Vault.

Despite its success with interoperability and DeFi, as the Foundation letter focused on future developments, they teased the upcoming features that would take Neo3 in a couple of surprising new directions: file storage and identity features. decentralized called NeoFS and NeoID.

The market has demonstrated a decidedly mixed appetite for blockchain file storage. Filecoin, another data warehousing-focused product whose FIL token went live on October 15, rallied violently to the tune of 118%, before an equally wild dump of nearly 80% from all-time highs.

Digital identity (or decentralized) blockchain products have also seen blocked adoption. While identity on the blockchain presents a clear use case, no project has ever moved beyond the mainstream.

Despite not being trendy, the Neo Foundation wrote that they hope these features will lead to greater adoption across the space:

“Along with new features and improvements in security and system performance, Neo3 is sure to become the ideal next-generation Internet infrastructure for mass adoption.”


Author: Souvik Sarkarhttps://news.triunits.comCrypto Expert And Blogger .

Bitcoin, Ethereum, DeFi & Global Finance News - October 18th 2020

Bitcoin, Ethereum, DeFi & Global Finance News – October 18th 2020

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Blast From The Past: Atari Crypto Token To Debut On Bitcoin Website

Blast From The Past: Atari Crypto Token To Debut On Bitcoin Website

But before that happens, we’re taking a look back at Atari’s impact on the video game industry, and if this token launch could bring innovation to it much like the original technology did decades ago.

As if more evidence that a bubble was indeed ready to burst, companies like Long Island Iced Tea, Kodak, and Atari, all announced a shift toward blockchain, and a business rebranding that may or may not have included a crypto token launch.

In February of that year, Atari announced its Atari Token in hopes of revitalizing the aging brand now dominated by PlayStation, Nintendo, and Xbox. The token will be used for in-game content, betting, and more, and hopes to eventually build a tokenized video game ecosystem.

The token launch, some two and a half years later, will happen on on October 29, 2020. Atari will be launching the token at $0.25 each with a hard cap on the presale of $1 million.

What future awaits cryptocurrencies?

The original Atari paved the way for the titans of the video game world today, like Sony and Nintendo. While Sony is ready to launch its PS5,  Microsoft readies its next Xbox console, and Nintendo continues to enjoy success with the Switch, Atari has made a significant reset.

Atari was the first innovator to make the video game industry what it is today. Could it perhaps do the same for combining the crypto industry, with video games?

Fortnite is a great example of a game that has a thriving in-game economy and downloadable content that could be tokenized through smart-contracts. All that has been missing, is a way to bridge the gap between the two vastly similar all-digital worlds.

If Atari can do it, they may have solved the puzzle to creating a video game ecosystem that’s tokenized and gives users rights and ownership, and begin a new era of video game collections, built on top of Atari chain.

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OKEx’s OKB Crypto Slides Another 20% as Fears Around Exchange Fester

OKEx’s OKB Crypto Slides Another 20% as Fears Around Exchange Fester

Earlier this week, it was revealed that OKEx had frozen all crypto withdrawals from its platform over concerns about a private key holder. OKEx is a leading crypto-asset exchange that processes a material percentage of the spot and futures volume in the industry.

OKEx said that one of its private key holders was working with a public security bureau. He had been out of contact since he started working with the bureau, so they could not process withdrawals.

OKB has dropped 20% in the past 24 hours as fears have persisted about OKEx, despite reassurances by the company that user funds are safe. It’s worth noting that companies like Crypto Quant, which tracks crypto market data, have noted that no funds have moved out of the company’s known Bitcoin wallets. This suggests that user funds are safe.

Some believe that OKB is falling due to an increase in short exposure.

Analysts think that even if OKEx’s functionality returns to normal soon, investors will continue to migrate their capital to decentralized exchanges. Centralized exchanges have been seeing increasing pressure over recent weeks and months from regulators, which culminated earlier this month with the CFTC charging BitMEX over derivatives violations.

Qiao Wang, a notable crypto analyst, says that the ongoing situations with decentralized exchanges will drive capital to decentralized exchanges, especially swap and futures platforms:

“Hard to overstate the importance of 1) Ethereum L2s and scalable L1s coming online, and 2) What happened to Kucoin/Bitmex/Okex over the last 2 weeks. Timing cannot be better for decentralized futures/swap exchanges to finally take off in 2021.”

Decentralized futures and derivatives platforms, in general, have struggled due to high block times and sometimes high transaction fees. But with the introduction of scaling solutions, there may be decentralized derivatives experiences that emulate that of centralized platforms.

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CRYPTO HODLERS MUST SEE THIS …. CRAZY CHART PATTERN !!! #bitcoin | cryptocurrency | crypto news

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US Believes That Crypto Becoming Greater National Security Threat

US Believes That Crypto Becoming Greater National Security Threat

Cryptocurrencies have irreversibly changed the world, though it seems to plan on doing in equal good and evil. According to the US Department of Justice (DoJ), cryptocurrencies have emerged as new opportunities for various criminals, rogue nations, and terrorists to threaten the national security in the US. This came by way of a report made by the DoJ, reported by Bloomberg.

The lack of consistent regulation across the world, coupled with the limitless reach digital coins have, has subsequently hampered law enforcement, according to the report. The report claimed that these facts make cryptocurrencies extremely detrimental to the stability and safety of the current international financial systems.

This report claims, despite massive amounts of crypto regulation occurring across the world, that these new entities that use crypto are not compliant with reporting and record-keeping requirements. Prime examples of these would be kiosk operators, peer-to-peer exchanges, as well as online casinos, and undermine the investigations of law enforcement.

The Cyber-Digital Task Force of Attorney General William Barr explained that the current use of cryptocurrency among terrorists might just be the first hints at a far greater crisis to come. Alongside this, the report stipulated that rogue nations and malicious actors are capable of making a profit by way of cryptocurrencies, as well.

US Federal Banks Can Now Hold Stablecoin Reserves

This report sent out by the DoJ stands alongside the apparent renewal from the US to crack down against individuals tied to cryptocurrency occurring in recent weeks. One of the more prominent headlines in these events, involve the founders of BitMEX, the crypto derivatives exchange, having been charged last week. The charges stated that the exchange, neither operating nor based within the US, is skirting the country’s laws in regard to money laundering prevention.

A more controversial figure, John McAfee, was recently arrested in regard to tax evasion in Spain. He is currently awaiting extradition to the US, where he will face charges of tax fraud and for unlawfully promoting cryptocurrencies without disclosing compensation.

As the US is renewing its efforts to crack down and persecute cryptocurrency, its rival, China, has opted to prioritize adopting this technology over condemning the limitless rogue elements within it. The result of this, is that China is intimately close to completely legalizing and regulating cryptocurrency within its borders, holding its own Central Bank Digital Currency (CBDC) in its final stages of testing. This will all eventually come to a head, and the US will be hard-pressed to stand against this innovation as it stands now.



Neo Foundation Shows Amazing Features Of Neo3: File Storage And Digital Identity.

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