Gerard Niles

Gerard Niles

Total Post: 28

Gerard Niles has been active in the financial market since 2012 having strong skills in curating latest cryptocurrency stories and writing. As a writer, he had been writing on other cryptocurrency sites as well before getting into CoinNewsPulse. In his free time, you will find him with financial books and content.

Want to Mine Cryptocurrency for Razer in Lieu of Loyalty Points?

Want to Mine Cryptocurrency for Razer in Lieu of Loyalty Points?

Yes, you heard it right, on Nov. 12, the gaming hardware manufacturer- Razer wants its customer to mine cryptocurrency for them. The interested gamers are to do download this software called- ‘SoftMiner program’ which will allow them to mine cryptocurrency with the computing power of the customers’ personal computers.

Well, here comes the twist- nope, the customers who will generate the cryptocurrency will not get to keep the digital currency, and interestingly neither the company (Razer) will get its hands on it. Then who gets to keep the mined cryptocurrency and what is the benefit of all this, right? Well here is where the plot gets clearer.

The Cryptocurrency will be rolled to another platform called ‘GammaNow.’ Razer has recently partnered with GammaNow. In lieu of the mining and providing the computing power of their personal computers, the customers get a fee to permit this mining by Razer. This fee will be offered in the form of loyalty points called ‘Silver.’ The customers/ gamers can redeem the ‘Silver’ loyalty points in the form of a discount on the Razor products and service. It is indeed a unique mix of the gaming world and the cryptocurrency landscape.

GammaNow will manage the cryptocurrency generated on the Razor’s mining software on the customers’ machines. These cryptocurrencies will include Ether (ETH), other native tokens of Ethereum Blockchain, among other tokens.

“The cryptocurrency that is being mined through this program is not touching Razer’s hands nor the user’s hands. We get a fee from the third party for generating cryptocurrency,” as per Kevin Allen (a Razer spokesperson, on a telephonic conversation.)

The GammaNow in lieu of mining cryptocurrency through the mining software is offering the customers ‘Gamma Points.’ These points can be redeemed in the form of rewards such as skins, and e-sports tickets.

In an email, Razer explained that GammaNow is taken over the loyalty points called ‘Silver’ from Razor. GammaNow will, therefore, reward the customers directly through their platform. The email further said- ‘GammaNow is handling the immediate sale of what cryptocurrency is mined.’

This arrangement by Razor to set foot in the cryptocurrency landscape and pooling in the customers through mutual benefits is stirring two kinds of reactions. It is stirring both agitation and confusion because of the convoluted nature of the arrangement. Since mining cryptocurrency is a heavily resourced demanding process, as it involves exhaustive usage of graphics cards as well as takes up a lot of electricity during the long computing mining time; customers are not in fully confident stance for this novel proposal by Razer. The bargain questions the psychological satisfaction of customers after giving in their computers for crunching computing process on a literally 24/7 basis, for generating cryptocurrency that they won’t even get their hands on. The appropriateness of the ‘Silver’ rewards is, therefore, being questioned and weighed again and again.

Razer also announced another aspect to this arrangement. Razer introduced ‘Razer Cortex.’ It is a performance booting desktop application. The idea behind this application is to up the performance of the ‘SoftMiner’ software. This app should help the customers to mine more and more cryptocurrency in order to get more and more Silver Rewards. The mining will also depend on the type of graphics card and computing time a customer can afford.

With reference to the newness of the cryptocurrency mining Allen said, “This is something that if it has a lucrative business model will stay.”

Expansion of Fidelity from Bitcoin to Other Assets

Expansion of Fidelity from Bitcoin to Other Assets

Fidelity, the fourth largest asset management firm is expanding their investment from Bitcoin to other crypto assets in the crypto industry. The head of Fidelity Digital Assets, Tom Jessop has expressed his opinion regarding the extension of the company assets and stated that the company is analyzing the demand along with the performance of the top five leading cryptocurrencies in the market and considering expansion of their asset base to other assets.

The Fidelity executive expressed his opinion at the Block FS Conference conducted in New York. He said that there is a great demand for the next top 4⎯5 cryptos by order of their market capitalization. He was quoted as saying “I think there is demand for the next four or five in rank of market cap order. So, we will be looking at that.”

Meanwhile, the major financial institutions such as Goldman Sachs ($70 billion) and State Street ($27 billion) are eagerly waiting for more transparency in dealing with regulatory issues and customer demand for the cryptocurrency.

The cryptocurrency market is not performing well from the past eleven months due to which the values have fallen by around 85% and hence, the demand for cryptocurrencies is experiencing a significant downtrend since this January.

However, the addition of other assets by Fidelity will need restructuring in their custodian services and changes in their infrastructure which will in turn create enough demand from the institutional investors, and thereby, help support the dipping product.

Another crypto exchange goes old institute as KuCoin raises $20M from VCs

Another crypto exchange goes old institute as KuCoin raises $20M from VCs

Purchasing cryptocurrencies can be a multifaceted procedure. Novices to the trade can be effortlessly postponed by the number of ladders and due assiduousness wanted to begin their speculation trip. That’s where Singapore-based KuCoin needs to make a change.

Michael Gan CEO and co-founder self-confessed that it’s more complex to invest in cryptocurrencies than in old-style monetary assets such as bonds and stocks. He’s on an assignment to make cryptocurrency interchange “nearby to the multitudes by contributing a user-friendly podium.

KuCoin has augmented it operates so it can offer 24/7 client provision in Chinese and English through social messaging app Telegram. At presently supports 12 dissimilar languages, as Gan exposed that language is a chief barrier for numerous dealers.

Nowadays, KuCoin proclaimed the close of a US$20 million series an overweight from IDG Capital, Matrix Partners, and Neo Global Capital (NGC). The business now ranks 49th in the biosphere in terms of interchange volume at US$23.9 million and entitlements to have over 5 million listed users.

Gan became engrossed in bitcoin mining throughout his academic days. After rolling from Chengdu University in 2010, he and his co-founders lodged on an in-depth blockchain research, which provided them the impression for KuCoin. They happening to shape the platform’s building in 2013.

The business finally started its business in 2017, selecting to list in Singapore. The city-state is home to its fair share of crypto exchanges, such as Kryptos-X, iStok, EurekaPro, and Coinhako. Gan even informed that severer rules and occasionally even absolute bans are among the main tests faced by cryptocurrency trading trades. Numerous markets like China are very down on crypto exchanges. Though, Singapore has taken a somewhat hands-off method in regulating manufacturing.

With the new funding, KuCoin plans to expand its business globally in hopes of increasing its user base. It is exploring several new markets including Vietnam, Turkey, Italy, and Russia as well as Spanish-speaking countries. KuCoin aims to have a total of 10 global communities up and running by the second quarter of 2019.

To do this, the company will tap into the network and expertise of its new investors. It will leverage IDG Capital’s marketing power, as well as Matrix Partners’ resources and support. Crypto asset investor NGC, on the other hand, will help connect KuCoin to other promising blockchain projects it invested in to form synergies.

KuCoin will also invest heavily in its blockchain training center. Already operational, the center is aimed at addressing the talent gap in the industry by training people to become blockchain developers, programmers, and engineers, as well as data scientists.

KuCoin is also improving its platform’s security system and totaling many features to see clients difficulties. Like most crypto exchanges, KuCoin originates its income from trading dues. Scheduled for launch in 2019, KuCoin 2.0 will present a new fee construction to incentivize its customers.

“The charges of the trading will differ based on customers’ trading volumes. This means the more you trade, the more trading fee discount you can enjoy,” said Gan.

Swiss Report Shows Trojan Malware Attacking Crypto Exchanges

Swiss Report Shows Trojan Malware Attacking Crypto Exchanges

A recent report from Swiss showed and extracted a bug that excavations Monero that is accountable for one of the major occurrences on the cryptocurrency industry of Swiss in 2018. Trojan malware which was initially used for slashing into huge banks is at present being made use to outbreak cryptocurrency exchanges.

The recent news related to the virus computer attacking Swiss cryptocurrency that comes directly Analysis center and Switzerland’s Journalism for info Assurance (MELANI). On the other hand in MELANI, the Examination Centre and Reporting for Information Pledge, cohorts work composed who are living in the place of safety of processer systems also the protection and Internet of dangerous national substructures.

The website of MELANI is open to secluded users of home computer and the Internet as well as medium-sized enterprises (SMEs) and small and in Switzerland. Bugs, as well as Viruses, have already crippled lots of computers internationally. The subsequent harm, like data loss or facilities, has been huge. However, this is just not the case. Trojan malware which was once used for slashing into huge banks is at present being made use to outbreak cryptocurrency exchanges.

The data finally states that the way MELANI showed the Trojan Dridex malware, officially called as Cridex. Cridex malware is typically devoted to net-banking hacking, however, it has lately been used to attack cryptocurrency exchanges along with the occurrences of occurrence significantly on the increase in 2018.

At present, the question is that Monerominer has initiated as the 6th highest attack on the Swiss crypto industry in 2018. Crypto miner is just not a malware, but a type of virus bot and is able to transfer many malware as it giveaway info directly through cryptocurrency accounts.

Gozi is also a type of virus same like this malware initially established in the year 2009, at present it is also developing to keep its eye on cryptocurrency exchanges.

The People’s Bank of China (PBoC) Plans to Hold down free distributions of crypto tokens

The People’s Bank of China (PBoC) Plans to Hold down free distributions of crypto tokens

The People’s Bank of China (PBoC) is the central bank of the People’s Republic of China. It is accountable for huge success in financial policy and the regulation of monetary institutions in the mainland, China. It is planning to limit on airdrops free distributions. This limit is of crypto tokens.

The People’s Bank of China mentioned that hidden initial coin offerings (ICOs) such as airdrops remain to increase in quantity, in spite of its preceding hard work at breaking down on sales of tokens, as per the monetary stability 2018 report. For example, if it is mentioned that few of the cryptocurrency firms are moving their planned projects to internationally and also using to invest on behalf of investors from China itself.

Some of the various projects are not delivering crypto tokens in public. It is doing it to straightaway to increase the funds; in spite of that they are giving away free tokens although keeping a share of the entire supply. The bank commented that to make profits these firms are trying to use the theory in the subordinate marketplace to card up these tokens’ rates.

The bank also stated that there were 65 completed ICOs in Mainland till July 18, 2017, only five of which were accomplished to 2017. It also increases more than 1, 05,000 people contributed to the sales, in which providing the entire funding of about 2.6 billion yuan which costs up to $377.3 million. It is having more than 20 % of the sum upraised in the same period internationally.

According to the central bank to instruct and guard investors, it may require to stay attentive and to organize with other activities to observe the cryptocurrency business.

This statement is based on the law of the People’s Republic of China, as well as the laws of PBOC, commercial banking and securities law, financing and financial activities law, and cybersecurity and telecommunications law.

CoinTicker Appears to be installing two backdoors on Apple Macs

CoinTicker Appears to be installing two backdoors on Apple Macs

CoinTicker a new a cryptocurrency ticker request has seemed to be connecting two backdoors on Apple Macs, cybersecurity firm Malwarebytes cautioned on 29th October 2018.

The app transfers and connects parts of two dissimilar section of malware – EvilOSX and EggShell both of these are the backdoor requests that can be used to log keystrokes, giveaway data or implement some of the instructions. According to Malwarebytes director of Mac and Mobile Thomas Reed, it is promising the malware was intended to take cryptocurrency keys.

He further added that CoinTicker acts as a genuine application created to give the price of a designated cryptocurrency on request. The customer connecting the app can select between bitcoin, ethereum, monero, zcash, and others. Though, the app also connects EvilOSX and EggShell in the background.

The user is expected that it will not see any sign of infection because the app does not require root or additional raised permissions. It’s unclear what exactly the makers of the application want, but Reed noted that “it seems likely that the malware is meant to improve the access to operators’ cryptocurrency wallets for the purpose of stealing coins.”

The truth that the malware is dispersed through a cryptocurrency app ropes this theory, he wrote. Malwarebytes for Mac now looks for the CoinTicker app. Malwarebytes Anti-Malware for Mac is an open security tool that agrees and lets the users to scan your computer for conjoint macOS infections and confiscate them. While concentrating on adware infections, Malwarebytes for Mac will also scan for other known infections that are being unconfined for the macOS operating system.

The CoinTicker app, on the surface, seems to be a genuine application that could possibly be useful to somebody who has capitalized in cryptocurrencies. Once the app is downloaded it will show an icon in the menu bar that gives information about the current price of Bitcoin. Though this functionality seems to be legitimate, the app is actually up to no good in the background and is an unknown one. Without any signs of trouble, such as requirements for confirmation to root, there’s nothing to recommend to the user that whatever is wrong.

Oracle Releases blockchain-based specific supply chain-oriented applications

Oracle Releases blockchain-based specific supply chain-oriented applications

Oracle has recently announced a set of SaaS applications based on its Oracle Blockchain Cloud Service for the determination of tracing and tracking supply chains from a clear distributed ledger. Rick Jewell, Oracle’s senior vice president of Supply Chain & Manufacturing Cloud Applications stated that these blockchain applications will be working flawlessly with current Oracle Cloud Applications and are out-of-the-box ready with pre-built additions and business network patterns for common business processes.

Oracle had previously announced in the month of July 2018 that its blockchain cloud service was one of a dozen main tech companies that have publicized blockchain-as-a-service (BaaS) providing over the past two years. That list comprises IBM, Microsoft, Amazon, SAP and Hewlett-Packard Enterprise (HPE) as compared to others they are even forcing BaaS for first-time enterprise adopters who wish to allow integration with current enterprise software and cloud services.

Oracle’s BaaS comprises Supply Chain Management (SCM Cloud), which is used for generating a digital trail during locating, manufacturing, and conveyance of goods. It even included ERP and tracking of warranty and customs. At present, it is the top blockchain distributed ledger technology, which creates an unchallengeable record that can be seen by anyone internal or external to a corporation with approval to access the system.

Along with cross-border financial transactions, the supply chain has been cited as one of the top uses for blockchain distributed ledger technology, which creates an immutable record that can be seen by anyone internal or external to a company with authorization to access the network. Mirroring occurs when documents such as a bill of laden or invoice are simultaneously in possession of a shipper, a receiver, a customer and others involved in the supply chain. The duplication of documents before an account is settled creates inventory in the seller’s systems, including receipts for the buyer, proof of delivery, invoices, payment and payment confirmations.

Beer maker Alpha Acid Brewing in Belmont, Calif., said it’s currently using Oracle’s Intelligent Track and Trace blockchain application to follow ingredients, such as hops, malt and yeast, along a supply chain.

Oracle Blockchain Cloud Service has also been offering its clients with a growth platform to create their own networks and to rapidly assimilate with Oracle SaaS and third-party requests they already use, as well as other blockchain networks and Oracle PaaS services. It further aids from broad capabilities in Oracle Cloud Platform for plug-and-play integration with current cloud and on-premises requests, API management, and application development environments and tools. Additionally, Oracle is delivering new SaaS applications to use blockchain technology for common use cases, such as track and trace, origin documentation, guarantee and usage, and cold chain.

Kyle Bozicevic, owner of Alpha Acid stated that users are best informed than ever before and are progressively interested in what is in the foodstuffs they consume. The company at present can track materials and best ingredients from the suppliers and analyze sensor data from the production process for every batch.

On the other hand, Lionel Louie, the chief commercial officer for CargoSmart mentioned that its business expect a 65 percent decreases in the amount of time obligatory to collect, syndicate, and settle data from manifold parties. The firm also hopes to rationalize data from different documents by leveraging Oracle Intelligent Track and Trace.

The U.S. Securities and Exchange Commission (SEC) Launches New Office to Communicate with Blockchain startups

The U.S. Securities and Exchange Commission (SEC) Launches New Office to Communicate with Blockchain startups

To engage with cryptocurrency and blockchain startups the U.S Securities and Exchange Commission (SEC) has recently started a new office. ‘The planned center for Modernization and Monetary technologies ‘ (FinHub) will make it stress-free for the fintech startups to communicate with regulators on the related issue and legal suggestions of projects before they are launched. FinHub will serve for the entrepreneurs in the fintech world as a central point, chiefly for groups which focus on new technologies like artificial intelligence, digital marketing place, blockchains and more as it was announced on October 18, 2018.

The expansion of its clampdown on blockchain startups that it claims has violated federal security laws the agency has sent out a number of subpoenas. FinHub can give appropriate directions to be entrepreneurs and provide the necessary clarity about the requirements needed to create products and complaint platforms. Developers and entrepreneurs can now ask questions from Hub as well as have access to regulator’s views actions about fintech space. Startups can also fix meetings with the regulators by using the portals.

Valerie A. Szczepanik, the Senior Advisor for Digital Asset and Innovation in the SEC’s Division of Corporation Finance, will be leading the Hub. He will be helped by other agency officials who are expert in fintech related issues as his staff. SEC has been educating entrepreneurs for a while now but now the portals aim at centralizing the process.

Szczepanik said, “SEC staff across the agency have been engaged for some time in efforts to understand emerging technologies, communicate the agency’s stance on new issues, and facilitate beneficial innovations in the securities industry.”

Jay Claton the chairman of SEC firmly believes that the gateway will be fruitful in offering many ways “central point of focus” for the agency’s “efforts to keep a check and involve on originations in the safeties market.” He said that “The SEC is committed to working with investors and market participants on new approaches to capital formation, market structure, and financial services, with an eye toward enhancing, and in no way reducing investor protection.”

Over the number of years, the number of cases pursued by SEC and its organizations has increased considerably. Just last month, the SEC and the Commodity Futures Trading Commission (CFTC) filed charges against securities broker 1pool Ltd for offering security-based swaps funded with Bitcoin, which the agency says violates federal securities law.
The regulator issued a ceased and desist order to Hedge fund Crypto Asset Management and its founder Timothy Enneking for what the portal claimed was misinterpreting the company as the “first regulated crypto asset fund in the United States.” By doing this act the regulators demonstrated that they are not leaving the fight with the owner the Plexcoin. The first FinTech Forum will be hosted at the FinHub building in 2019 and will be focused on the blockchain technology and its legal implications.

According to her, by launching the FinHub, the SEC hopes to provide a clear path for innovators and entrepreneurs, as well as the developers who are seeking legal guidance.

RIPA Exchange: ARK Blockchain Crypto Asset Trading Marketplace?

RIPA Exchange: ARK Blockchain Crypto Asset Trading Marketplace?

With digital tokens now becoming a hot cake in the financial market, an ardent need to lower the entry level of opening new cryptocurrency exchange is required. Armed with prior industry experience, Ripa Exchange, across decentralized exchange platform empowered by the ARK Blockchain technology has made a burgeoning entry in the market.

The blockchain based platform is here to offer crypto enthusiasts a more secure and safe trading platform for daily transactions. With the advent of technology, the virtual currency market has as well made a mark in the mainstream of global economy, but it is still expensive to open, manage, and instil trust in the minds of the traders about a newly launched exchange platform.

The belief is imperative not only for the smooth running of resources on a reliable exchange platform but as well to develop the platform internally. Moreover, it is necessary to determine the liquidity to run a profitable business in the long run.

The increasing rates of cybercrimes and unreliable exchange platforms have perplexed the cryptocurrency users. Besides, there is a soaring price of euro 250-300 thousand as an entry fee to these platforms. Even after paying such a hefty amount, exchanges managers are unable to provide a reliable, stable, and easy to use exchange platform to the users.

It is precisely where Ripa Exchange offers a decentralized ARK empowered blockchain based exchange platform which provides, efficient, open source, reliable exchange platform and as well provides the needed liquidity to the newly created exchange platform from day one.

It helps the new exchange platform leverage their focus on finding crypto enthusiasts who will give platinum support and as well as comply with the different laws of the payment’s industry. Ripa Exchange aims at enhancing the user experience of using a crypto exchange platform while making trading more secure.

The blockchain based Ripa Exchange is a crypto asset marketplace that abides by the industry regulations and standards while its principles rest on three pillars—open source, secure, and efficient.

This exchange platform aims to provide a reliable crypto trading platform for crypto users. Ripa Exchange seeks to attain this objective by making the platform more secure, safe, reliable, UI responsive, customizable, and easy to use based on open source and public trust.

It is seen that several cutting edge technology and Rails framework have leveraged Ripa exchange to migrate to a hybrid decentralized exchange platform, wherein transfers on the Ripa network will share the needed liquidity.

With the intervention of technology Ripa exchange, therefore, envisions building an opensource crypto asset marketplace that will ensure safety and will operate on the high-performance trading engine.

It will make the blockchain based exchange platform more trusted amongst the crypto users. Besides, such an aid to the digital currency market will pave the way to incorporate new features on the upcoming exchange platforms. Ripa Exchange thus aims to provide a hassle-free way to the users for building their crypto exchange platform across the globe.

Crypto tokens are not equity and investors, says Decentraland Foundation Tony Sheng

Crypto tokens are not equity and investors, says Decentraland Foundation Tony Sheng

Tony Sheng, the product lead at the Decentraland Foundation, an Ethereum-based virtual reality (VR) platform, recently published a blog post in which he explained that cryptocurrency-based tokens are not a form of equity.

Sheng, who previously worked as product manager at Google, wrote that equity holders actually have an ownership stake in the stocks of the company that they invest in. Specifically, Shen explained that owning equities is equivalent to “a pro-rata claim on the enterprise value of a company.”

The ability to participate in the cryptocurrency projects decision-making process is usually given to this token holders as a simple promise. Crypto developers may say that the people who buy their tokens will be informed in governance decisions. It is not legally binding.

Some terms and conditions can be considered enforced such as the money supply of the cryptocurrency protocol which is usually set as it’s base layer. Smart contracts may be issued that require a crypto’s developers to commit to allowing it’s holders to have some control over it’s on chain governance systems.

Tony said that the ownership is provided in good faith by those with the power in these networks. The powerful meet the expectations of the network’s stakeholders in self- interest. If they were to fail expectations, the value of the system would decrease.

Tony has made some pertinent points, and he also addressed the recent controversy around Andreessen Horowitz’s a16z crypto fund investing 15 million dollars in MakerDAO. The venture capital firm’s investment allowed it to acquire 6 percent of MKR tokens at a substantial 45 percent discount.

The chief strategy officer at CoinShares is Meltem Demirors. It is a crypto treasury management firm. It is criticized Andreessen Horowitz’s multi-million dollar investment in the MKR stable coin. Demiror alleged that by not informing MakerDAO’s other investors. It is the platform’s developers just made a smart move for a fund to engage in the opportunistic capital.

Tony said clearly that the MakerDAO team did not violate any explicitly stated or implied rules with the expectation of referring to itself as a decentralized autonomous organization as it’s actions may indicate otherwise.

MakerDAO’s defined governance mechanisms only cover risk management, and many of the people still don’t understand that tokens are not equity but the people expect tokens to behave like equity.