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Blackout Cure Needed? BTC Price Volatility Challenges Crypto Exchanges

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Nobody can really predict Bitcoin’s (BTC) price volatility. But one thing is becoming painfully predictable when the price of Bitcoin suddenly lurches in one direction or another: One or more of the major cryptocurrency exchanges simply goes offline. This leaves users powerless to prevent losses from spiraling, as they are left unable to trade or buy more positions as a hedge.

These outages have happened time and time again. Most recently, as Bitcoin started climbing toward the $10,000 mark, Coinbase went offline. At the time it happened, Cointelegraph reported that this is the fourth time in the last three months that Coinbase has shut down during major moves in the price of BTC. Additionally, Twitter user CryptoWhale pointed out that there have been no fewer than 11 Coinbase outages over the last 12 months, each one coming at a time when Bitcoin’s price had moved more than $500 in value. 

The Silicon Valley-based exchange later issued a statement via its blog, clarifying that the June 3 outages were due to an issue with its API, which was seeing five times more traffic than usual. Without directly addressing the issue of the frequency of outages, the blog post stated that Coinbase is “working on reducing the impact of price-related traffic spikes though pre-scaling and caching.” Meanwhile, the exchange saw users withdrawing BTC en masse, following the incident. 

A broader problem? 

During March’s Black Thursday, BitMEX went offline for 25 minutes, subsequently blaming two separate distributed denial-of-service attacks. However, Twitter users, including the CEO of rival exchange FTX, Sam Bankman-Fried, and trader lowstrife, called foul play. 

BitMEX denied the allegations, but it’s not the first time that the Seychelles-based exchange has been accused of playing dirty. Blogger Hasu aired his suspicions that the company “weaponizes their server problems” back in 2018. This issue is also clearly set out in the form of allegations in the class-action lawsuit currently pending against BitMEX, which states: “BitMEX routinely freezing its servers — which BitMEX blames on technical glitches and limitations — to profit from moments of high volatility.”

A month after Black Thursday, the company saw a drop of 38% in its Bitcoin holdings. It is unclear whether the drop is due to users losing trust in the platform or because of the overall market sentiment, whereby an abnormally high amount of BTC is being withdrawn from exchanges. Meanwhile, BitMEX has struggled to regain the open interest lost in March, implying that it may be losing market share to its smaller rivals, such as Bybit and FTX. 

Coinbase and BitMEX are the two platforms that have most often come under fire for downtime in volatile markets. However, data provider Kaiko performed an in-depth analysis of the minute-by-minute trade data for March 12 and 13, covering seven spot and six derivatives exchanges. Five of the spot venues and four of the derivatives platforms were found to have experienced some kind of issue during peak moments of volatility. 

Of the spot platforms in question, only Binance and Bitstamp held up, although Binance CEO Changpeng Zhao acknowledged some “glitches on peripheral systems” in a tweet. In derivatives, Binance Futures and Huobi DM managed to ensure uninterrupted trading.

A problem unique to crypto? 

Contrary to the crypto sphere, there are no regular instances of the traditional stock markets going down during peak trading hours. Of course, the stock markets don’t see the same volatility as cryptocurrencies, but they do handle trading volumes that are far greater than any crypto exchange. The biggest cryptocurrency exchanges have enough experience of Bitcoin’s volatility to be able to anticipate certain kinds of peaks.

Arguably, some big exchanges also have money to invest in building infrastructure that can handle the kind of volume spikes. Coinbase has raised over half a billion dollars over its lifetime. It could be argued that BitMEX is a minnow, by comparison, having raised only $25,000 with the last seed round in 2015. However, one analyst estimates that BitMEX is raking in around $700,000 per day in fees from its derivatives trading service, which could come to over $250 million each year. Joel Edgerton, the chief operating officer of bitFlyer USA, believes that the issue is one of industry maturity, telling Cointelegraph: 

“Crypto exchanges do not have the deep institutional experience that is in a traditional stock exchange. Traditional exchanges have had over 100 years to build the skills, processes and systems needed to handle the volumes they receive.”

Digging deeper

Different exchanges appear to have different views on what could be an appropriate fix for the downtime problem. Bitfinex has recently issued a press release boasting its own performance in 2020, stating that it’s had no major incidents of downtime so far this year. The exchange points to its “obsessive interest in technical improvement” as being the reason why it has managed to achieve this. 

Other exchange leaders seem to agree unanimously that the focus should be on the technology above all else. Edgerton explained that bitFlyer was built in Japan by specialists from Goldman Sachs and undergoes continual rigorous performance testing. On the matter, Catherine Coley, the CEO of Binance.US, pointed out to Cointelegraph that: 

“Our infrastructure is built to regularly handle over $10 billion of daily trading activity. We have capacity for much larger volumes before our systems would become stressed.”

Stephen Stonberg, the COO of Bittrex, believes that many exchanges may be underestimating the effort and expertise involved in building an exchange that can withstand high volumes during peak times. He told Cointelegraph: “We can say with certainty that building a rock-stable exchange is harder than it looks.”

Unfounded speculation? 

While it seems acceptable enough that the crypto industry simply isn’t developed enough to handle high volatility at peak yet, the debate still rages over whether the industry should implement circuit breakers. Meanwhile, some have accused exchanges of using their downtime as a form of a hidden circuit breaker. 

Several platforms that have suffered from outages, including Robinhood and Gemini, don’t offer leveraged trading. Furthermore, both Coinbase and Gemini are regulated in the United States. Therefore, it would be a stretch to assume that the platforms take their services offline deliberately. If anything, spot exchanges risk losing out on the fees from users who would happily dump their holdings at market rates instead of setting a limit order. 

Related: Crypto Industry Divided Over Introducing Circuit Breakers on Exchanges

Edgerton cautiously told Cointelegraph that there could be two reasons behind the outages: “In one theory, an exchange has lost focus on the cryptocurrency community and is trying to become a financial conglomerate with a hand in every pot.” He added: “In this case, frequent volatility-caused outages are the result of not taking care of the basics.” But it may also not just be about inadequate systems, as he elaborated on another potential theory: 

“Some exchanges are closer to a casino business model than an exchange one. Volatile assets like Bitcoin do not need 100x leverage, especially when marketed to retail customers. Additionally, some of these exchanges may actively avoid regulation or not clarify where their business really exists. In these circumstances, it is reasonable that people would question mysterious outages as a hidden circuit breaker that is putting the company’s interests ahead of their customers.”

Users demand better systems and transparency

This year’s volatility has been extreme, even by Bitcoin’s standards. It’s also worth remembering that there are more traders, exchanges and general interest in cryptocurrencies now than at any point in the past. So, in a way, it’s no surprise that the infrastructure of some exchanges has started to creak and groan under heavier loads. 

However, transparency is also critical. In traditional markets, regulation forces transparency. In crypto, only some exchanges have chosen to be regulated in order to operate in particular markets. In the absence of regulation, it’s reasonable to expect a certain degree of transparency from exchange operators, particularly regarding how they handle costly issues such as liquidation during volatility. In a crowded market, traders will vote with their feet, so it’s up to the crypto exchanges to meet transparency demands and system stability.

Source: https://cointelegraph.com/news/blackout-cure-needed-btc-price-volatility-challenges-crypto-exchanges

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Record Number of Dark Markets Online as Demand for Illicit Goods and Services Continues to Grow

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The criminal environment of darknet markets is extremely turbulent. Numerous darknet markets are launched every year and just as many are constantly exiting, being seized, or otherwise going defunct. Despite this barrage, CipherTrace has noted more dark markets online than ever before.

CipherTrace researchers are currently monitoring over 35 active darknet markets. The newest darknet markets – both launched around early September – are Invictus Market and Lime Market. Lime Market, thought to be run by the former admins of DarkBay, appears to be a very small market and is not expected to become a very notable enterprise. Invictus Market, on the other hand, is run by the admins of the well-known Imperiya darknet service—an enterprise that creates and maintains darknet vendor shops for a modest fee. As the admins of Invictus already have a good reputation among the darknet community, it stood to see quick growth. However, while Invictus was able to gain close to 10,000 customer accounts in its first month, by the end of its second month of operation (October 20), Invictus’ customer base had barely surpassed 10,000 accounts, indicating its exponential growth appears to have slowed drastically.

Source: CipherTrace Cryptocurrency Intelligence

Three Tumultuous Exit Scams

Empire Market was one of the largest, longest running and most successful darknet markets. Launched in February of 2018, Empire rose to become the largest darknet market in the Western world during its time. However, by late August 2020 the dark market pivoted and exit scammed—a scheme where a dark market or fraudulent exchange ceases operation and steals all the funds in escrow and account wallets. An exiting market will either abruptly shut down or remain online with escrow payouts and withdrawals disabled, but deposits still enabled, allowing the scammers to net more funds until users catch on.

Following Empire’s exit, its vendors and customers had to move to a new market, leading to a large influx of new users on all other open darknet markets.

On September 10—less than three weeks after Empire’s exit—Icarus Market also went offline. The site never came back up, taking all their vendors’ and customers’ funds with them . Icarus had been pushing high effort updates soon before the exit, leading CipherTrace analysts to believe that the exit likely wasn’t planned. Rather, it’s probable that the large influx of new users from Empire and their deposits made Icarus ripe for a profitable exit. As a result, the admins may have taken advantage of the opportunity and exited sooner than they had originally planned.

Sometime around October 12, DeepSea market also abruptly went offline. After just a few days with no word from market admins, users and one DeepSea forum moderator concluded that the market had exit scammed. As of the writing of this report, it has been one week since the market went offline. It is possible—but unlikely—that the market will return. It could have been seized instead of exit scammed, but law enforcement has yet to announce the seizure. If the market doesn’t return and law enforcement don’t announce a seizure, it can be concluded that DeapSea has exit scammed.

White House Market, due to its good reputation among darknet users, will take some traffic from these exits and has the potential to be the next biggest market. However, White House Market’s high security requirements tends to turn the average dark market user away. It is more likely that DarkMarket will take much of the traffic from the Empire, Icarus, and DeepSea exit scams.

As it stands, DarkMarket and White House Market appear to be the largest darknet markets in the Western world with over 300,000 customer accounts each. White House Market saw a 40% increase in users between August 27 and September 28, following the exit scam of Icarus, and a further 8-10% increase between late September and October 20. The next most notable darknet markets currently active are Versus Market, Monopoly Market, ToRReZ Market, and of course the Russian darknet behemoth—Hydra—which has been active since 2015 and is likely the largest darknet market in the world.

Why So Many Dark Markets Come and Go

Creating a darknet market requires little upfront cost, and the potential rewards can be high—Empire market admins, for example, reportedly profited around $30 million from their exit scam alone, not including the money they made in the two years of their operation. Evolution market exited with $12 million in user bitcoin. This results in numerous darknet markets launching every year. According to CipherTrace research, there has been at least one notable darknet market launched every month on average since early 2019.

However, darknet markets go as quickly as they come. The eventual fate of all darknet markets is to be seized, to be hacked, to exit scam, or to voluntarily shut down. It’s most likely that the majority of darknet markets plan to exit scam from their inception, especially as a plan B if things go sideways.

Operating a darknet market is risky. Market operators have a long list of adversaries. Law enforcement is the most obvious, powerful, and dangerous adversary of a darknet market. If a market runs for long enough, it’s likely to be seized and its operators arrested. Ten years ago, the first dark market, The Farmers Market, appeared on the Tor network; eight years ago its eight founders were arrested, seven pled guilty and the leader was convicted to 10 years in prison for selling narcotics and laundering money. Ross Ulbricht, aka Dread Pirate Roberts, allegedly operated Silk Road—the first large scale dark market with over 100,000 customers. Ulbricht was also charged with a murder for hire plot and was sentenced to a double life sentence plus forty years without the possibility of parole. Ulbricht built this black market bazaar to exploit the dark web and the digital currency Bitcoin to allow users to conduct illegal business beyond the reach of law enforcement. According to the DOJ “Ulbricht’s arrest and conviction – and our seizure of millions of dollars of Silk Road Bitcoins – should send a clear message to anyone else attempting to operate an online criminal enterprise. The supposed anonymity of the dark web is not a protective shield from arrest and prosecution.

Figure 1: Silk Road was a wakeup call to law enforcement globally to the criminal potential of cryptocurrencies. (DOJ Exhibit 113 A, entered into evidence at Ulbricht’s trial)

Darknet markets are also under constant threat of being hacked by adversaries who want to steal funds from a market’s hot wallet, extort the admins, or conduct an attack that might lead to a profit. Furthermore, darknet markets are constantly receiving Denial of Service (DoS) attacks. DoS attacks on a market might be conducted by an individual demanding ransom, by admins of a competing market who want to diminish competition, or even by law enforcement who want to destabilize these criminal enterprises.

Even if a market intends to be around forever and manages to avoid being seized or hacked, there is always the chance of either a slip up in their operational security or an attack that poses too great a threat to the admins that they’re forced to execute their plan B: an exit scam. By conducting an exit scam, the admins of a darknet market are able to solve their problem while making a substantial profit.

The Ease of Creating a Dark Market

The ease of creating a dark market adds to its lucrative appeal, particularly if one intends to exit scam. While the biggest hurdle to operating a dark market was once the issue of gaining the trust of vendors and customers to use your site, the barrage of seizures and exits leaves many bouncing to and from one dark market to the next.

There are many ways criminals can quickly produce dark markets, with the easiest being to simply buy a pre-built marketplace template—all the customer has to do is replace any place-holder text and install the software to their servers. This method was used by the popular dark market “DarkMarket.” The current price for a standard, pre-built marketplace kit that accepts BTC and Monero is only $599 in BTC. Support for additional coins range from $50-$90 per coin. This upfront cost is minuscule when compared to the profits of many of the established exit scams.

The ease of creating your own dark market, coupled with the profitability of exit scamming and constant demand shown by the volume of customer accounts on these marketplaces culminate in a record number of dark markets now online. It is likely that this number will only grow in the future, however, the use of blockchain analytics such as CipherTrace can ensure that the funds originating from any of these dark markets are identified the moment they are moved to fiat off-ramps such as exchanges.

Source: https://ciphertrace.com/record-number-of-dark-markets-online-as-demand-for-illicit-goods-and-services-continues-to-grow/

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Top 10 Blockchain-as-a-Service (BaaS) Providers

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🔥🚀 BaaS or Blockchain-as-a-Service is a paid blockchain-based cloud service that blockchain companies provide to customers. BaaS provides customers with the ability to build, host, and use their own blockchain apps, smart contracts, and any other digital services on a distributed network.

It is important to clarify that the BaaS concept is derived from the concept of SaaS (Software as a service) and works similarly to it. 👇

◆ How does BaaS work?

According to the BaaS concept, blockchain companies install,  manage, and maintain, blockchain-based cloud platforms in addition to providing the tools necessary to build blockchain applications to customers in return for a fee.

◆ The future of the BaaS industry

Currently, the global revenue from blockchain services is estimated at $ 2.5 billion and by 2025 this number is expected to rise to $ 19.9 billion.

Overall, the business value of blockchain solutions will increase to more than $ 360 billion by 2026, with estimates of this number reaching $ 3 trillion by 2030.

The previous figures clearly show the future of the industry as well as explain the huge and successive investments in the blockchain business in general.

❖ Advantages of using the BaaS model

The BaaS model provides its users with many advantages, most notably high data security, efficiency, scalability, unlimited customization potential, as well as it is compatible with current cloud services.

In addition to the above, the adoption of the BaaS model reduces administrative burdens and provides better management and recruitment of resources.

Moreover, the BaaS model is easy to use and affordable, given the value it offers.

☉ BaaS vs owning a blockchain-based cloud platform

The BaaS model is a better solution for business than having a blockchain-based cloud platform in all aspects. Owning a blockchain-based cloud platform is hugely costly due to start-up costs (infrastructure, personnel, software, licensing, hardware, consulting, and more), retirement costs (decommissioning of server racks), and operational costs (monitoring, cost per transactions, bandwidth expenses).

In addition to the above, owning a blockchain model means fully assuming administrative responsibilities. 👇

🗨 While in the BaaS model, the cost is significantly lower because you only pay for the service you get. The service price in the BaaS model is subject to several factors, including the transaction rate, the maximum number of concurrent transactions, the payload size on transactions, and so on.

Also, in the BaaS model, all administrative burdens are borne by the provider.

● How to choose the right BaaS provider?

There are a number of points to consider when selecting a BaaS provider. For instance, the provider’s experience and reputation, the security of the platform, the technical support as well as the ease of use and pricing.

In addition, it must be ensured that the platform integrates with the existing operating systems and software.

🚀 It should also ensure that the platform supports smart contract integration and deployment, identity access management (IAM) system, different runtimes, and frameworks. 👇

🟥 Top 10  Blockchain-as-a-Service (BaaS) Providers

● Blockwell

Blockwell is one of the world’s leading providers of blockchain solutions to governments, enterprises, and end-consumers. Founded in 2018 by experts who have contributed for 20 years in developing emerging technologies for some of the largest companies in the world.Blockwell aims to assist organizations in adopting blockchain solutions by providing consulting and a cloud blockchain platform in addition to a distinct and diverse set of tools and programs.

Blockwell aims to help everyone generate profits by allowing them to build and expand blockchain tools, services, and products.

Currently, content creators rely on existing toolkits developed by Blockwell, set their own commission structures, and earn percentages as they sell and promote their tools around the world.

During the past two years, Blockwell has developed blockchain solutions for cryptocurrency businesses around the world. 👇

🔻In addition, Blockwell has vetted dozens of token contracts for some of the most popular exchanges in the world, prevented and stopped hacks saving individuals millions of dollars, built successful token-swaps tools, and analytics tools.

Blockwell’s previous work includes the names of many well-known businesses such as JPMorgan Chase Bank, Wells Fargo, Disney, GoPro, Paramount, Mattel, Universal, Lucas Arts, Suzuki, Epson, Time Warner Cable, Guitar Center, Beachbody, Marriott, Jaiyen Eco-Resort and more.

🗨 Blockwell has an impressive list of tools and applications. Notable among them are Blockwell Wallet, Pride Token, Fire Tokens, EgoCoins, Blockwell, Blockwell Book, Sheets-n-Blocks – Blockchain, Contract Tool, VoteBlock, API Miner, Smart License Creator, Blockwell Prime, Listener, Token Swapper, Blockwell Daico, Blockwell Telescope, Blockwell Spyglass, Blockwell Velvet, Blockwell KYC Form Builder, Non-Fungible Token Creator, BW, and Dumbapps.

In addition to apps and tools, Blockwell has launched a store for  DApps named “Well Spring” that has 16 working apps so far.

Blockwell backed tokens are valued at over $ 80M.

🗨 Regarding the future, Blockwell is seeking to expand by investing $ 10M. The company plans to obtain it by selling 100MM tokens to investors.🔻

● Amazon

Amazon introduced its BAAS service called “Amazon Managed Blockchain” in 2018 through its cloud arm, Amazon Web Services (AWS). Amazon Managed Blockchain is a managed service that makes it easy to create and manage scalable blockchain networks using open source frameworks including Ethereum and Hyperledger Fabric.

Moreover, Amazon allows customers who want to manage their own network to go ahead, but it is an option that needs experience in dealing with AWS Blockchain Templates.

Amazon also enables companies to integrate their blockchain-based networks and business processes to improve IT infrastructure, business processes, human resources, financial transactions, and supply chains.

In addition to the above, Amazon provides AWS Key Management Service to secure Hyperledger Fabric’s CA (Certificate Authority) and Amazon QLDB technology to manage augmented ordering service.

🗨  The BAAS offer from Amazon is characterized by flexibility in identifying resources to suit companies’ needs.

Amazon customers’ list includes star names like Nestlé, BMW, Accenture, Sony Music Japan, and the Singapore Exchange. 👇

● IBM

🚀IBM is one of the world’s most important BaaS service providers. Forbes selected it among the top 50 blockchain companies, thanks to its blockchain platform “IBM Blockchain“, which it launched in 2017.

IBM Blockchain is a fully-integrated distributed ledger technology platform that enables businesses to “’ develop, govern, and operate a blockchain ecosystem quickly and cost-effectively on a flexible, cloud-based platform by using Kubernetes.

Partnerships have been vital to IBM’s continuous BaaS expansion. it created the Trust Your Supplier platform alongside blockchain firm Chainyard and also pioneered the Contingent Labor platform in conjunction with IT People.

As well as IBM Blockchain has joined The Linux Foundation’s Hyperledger Project to evolve and improve upon earlier forms of blockchain. Instead of having a blockchain that is reliant on the exchange of cryptocurrencies with anonymous users on a public network (e.g. Bitcoin), a blockchain for business provides a licensed network, with known identities, without the need for cryptocurrencies.

👉  IBM Blockchain Platform has been used widely in industries such as food supply, media, advertising, and trade finance. 👇

● Microsoft

🔥 Microsoft is one of the oldest BaaS service providers as it has been in the market since 2015 when it launched Azure Blockchain Service.

Microsoft aims through its BaaS service to enable users to build public, private, and consortium blockchain environments with industry-grade frameworks and bring their blockchain apps to market.

🎯Microsoft provides three products to customers: Azure Blockchain Service, Azure Blockchain Workbench, and Azure Blockchain Development Kit.

Azure is compatible with other Microsoft products such as Logic Apps and Flow, making it a great choice for organizations looking to harness blockchains such as General Electric and T-Mobile.

Microsoft Azure’s most prominent features are the support of several Blockchain frameworks, including Quorum, Corda, Hyperledger Fabric, and Ethereum. Plus, ease of deployment using Azure CLI, Azure Portal, or Visual Studio Code with the Azure Blockchain extension. Azure also supports full monitoring and logging.

🗨 The above helped Microsoft to forge important partnerships with prominent entities such as its partnerships with Ripple and BitPay. 👇

● Alibaba

🔻 Alibaba is one of the leading blockchain solutions providers around the world. The well-known Chinese company introduced its BaaS service in 2018 through its cloud platform.

🗨  Alibaba has an active research team and has registered many patents on blockchain during the past period.

Utilizing Quorum, Hyperledger Fabric, and the Ant Blockchain, the platform integrates Alibaba Cloud’s Internet of Things (IoT) and anti-counterfeiting technologies to create blockchain solutions for product traceability.

Alibaba’s BaaS offering provides diverse solutions to meet user needs including encompasses enterprise-level BaaS services, an agile BaaS platform that supports private deployment, and specific blockchain solutions for container services. 👇

● Oracle

🚀 Software giant Oracle unveiled its BaaS service in 2017. The service, called “Oracle Blockchain Cloud Service”, aims to provide an enterprise-grade distributed ledger platform that can help businesses to “increase trust and provide agility in transactions across their business networks.”

Oracle enables its service users to provide permission blockchain networks for private or consortia models, enroll member organizations, and run smart contracts to update and query the ledger in addition to many other benefits.

🎯 Also, Oracle enables its service users to use its other solutions such as Oracle Supply Chain Management (SCM) Cloud, Oracle Enterprise Resource Planning (ERP) Cloud, and other Oracle cloud solutions. 👇

● R3

🔥 R3 launched its BaaS service called “Corda” to enable companies to transact directly and privately using smart contracts.

Corda is an open-source blockchain platform that works on minimizes blockchain nodes’ deployment time by a few minutes, allowing enterprises to host the Corda network in a few clicks.

👉 Interoperability, security, and privacy are the foundations of the finance-focused Corda.

Royal Dutch Airlines (KLM) recently hired Corda service to streamline financial processes and enhance settlements

Corda provides users with the following benefits: Easy cloud-based deployment and quick setup of nodes with Docker, a Built-in blockchain application firewall to provide additional security, as well as R3’s Interoperability feature that allows developers to work with more than one application at the same time.

🗨 It is worth noting that R3 has developed solutions for more than 300 clients in addition that it has partnerships with many prestigious institutions such as Barclays, Credit Suisse, Goldman Sachs, J.P. Morgan, and Royal Bank of Scotland, Bank of America and Wells Fargo, and more. 👇

● SAP

🎯 SAP launched its BaaS service “Leonardo” in 2017. Through its service, SAP aims to help companies transition into the digital age through the use of distributed ledger technology.

Leonardo is a Hyperledger based service and resides in the SAP Cloud service, meaning it can be accessed from any device.

🔻 The platform provides plug-and-play blockchain solutions and allows for the easy setup and hosting of blockchain nodes.

SAP Leonardo functions as a blockchain cloud service, machine learning service, and supports the Internet of Things (IoT) in a single ecosystem.

👉 SAP Leonardo provides its users with several benefits such as cloud deployment, monitoring of blockchain data in real-time, and more. 👇

● Huawei

🚀 Well-known Chinese smartphone manufacturer Huawei launched its BaaS service in 2018. The service, called “BCS“, is based on Linux Foundation’s Hyperledger Fabric, a blockchain framework that allows components, such as consensus and membership services, to be plug-and-play.

With its BaaS service, Huawei aims to enable companies to develop smart contracts on top of a blockchain network for several use-case scenarios.

🔥 Huawei also works with enterprise customers to promote the deployment of blockchain solutions and applications and to build reliable, public infrastructure, and an ecosystem-based on blockchain and shared success.

🗨  According to Huawei, BCS enables enterprises to deploy blockchain technology within five minutes. It concentrates on nine application scenarios, including data assets, Internet of Things (IoT), operation, identity verification, data certification, data transactions, new energy, philanthropic donations, and inclusive finance.

Huawei has many and varied partnerships inside and outside the Chinese market, but the most prominent name remains the famous car manufacturer Honda. 👇

● Factom

🔻Factom launched its BaaS service in 2017. The service, called “Factom Harmony“, aims to allow enterprises and software vendors to quickly add blockchain capabilities to any application or workflow using simple API calls.

Harmony also aims to enable users to create portable, archivable cryptographic proofs to use as trusted inputs for internal and external audits.

🚀 What sets Factom Harmony apart is that it reduces the time and resource requirements to perform audits and meet compliance objectives. ⤵

 

Author: Husayn Hashim

👤Bio: Husayn Hashim works as an author and programmer. He has been writing about blockchain technology and cryptocurrencies for si years. He’s interested in programming, technology, finance, and business. He loves writing and loves to share his knowledge with others.

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Founder´s Packs now available for the first AAA blockchain game BLANKOS BLOCK PARTY

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Founder´s Packs now available for the first AAA blockchain game BLANKOS BLOCK PARTY

Mythical Games, a next-generation game technology studio driving mass adoption of blockchain, today announced the upcoming private beta for Blankos Block Party, an open-world multiplayer game with a heavy focus on player-designed levels and collectible assets, will begin on Tuesday, Nov. 17, 2020, with open beta to follow later this year. Players eager to start their collection of the digital vinyl toys come to life can now purchase a Founder’s Pack, starting at $24.99 (USD), to receive exclusive and limited in-game content, as well as guaranteed priority access to the game’s private beta and Founder’s status in both Discord and in-game.

Blankos Block Party is an online game world that integrates blockchain to facilitate the economy and allow players to buy and sell their in-game items in exchange for real-world currencies, using Mythical’s proprietary technology to track and verify all purchases across any platform, creating a safe transaction for all involved. With this model, Mythical is eliminating the need for grey markets and allowing the community to dictate the value of what is bought and sold in secondary marketplaces.

Limited quantities of the Founder’s Packs are available now for purchase via fiat or supported cryptocurrencies in four different package options, which provide limited-edition Blankos and themed accessories designed by some of the world’s top vinyl toy artists, priority access to the private beta, 100% in-game currency match and other items only available while these packs last. Each Founder’s Pack will be numbered in order of purchase and recorded on blockchain to enhance collectibility and future resale value for players.

  • Ice Pack: RSVP to the ultimate block party with the Ice Pack, and receive the exclusive Lolli Blanko and three themed Lolli accessories, Founder Status and Lolli emoticon and 2,500 Blankos Bucks. ($24.99)

  • Tako Pack: Start your collection with the exclusive Tako Blanko designed by multimedia artist Junko Mizuno, two themed Tako accessories, as well as one unique Tako-themed Build Mode asset and one Build Mode item wrap, Founder Status with Lolli and Tako emoticons and 5,000 Blankos Bucks. ($49.99)

  • Bite Me Pack: Be the life of the party with the Bite Me Pack, which delivers the exclusive ‘Bite Me’ Billy Bones Blanko, six Bite Me-themed accessories, rare gold and black Build Mode materials, plus Bite Me brand Build Mode basic set, Build Mode items and the Bite Me rocket launcher, as well as Founder Status with Lolli, Tako and Bite Me emoticons and 10,000 Blankos Bucks. ($99.99)

  • Boss Pack: Become a VIP with the Boss Pack and show off your status with the exclusive Boss Dino Blanko designed by legendary toy artist James Groman, two Boss Dino-themed accessories, two Build Mode Materials, three Build Mode items and two themed weapons for Build Mode, not to mention Founder Status with Boss Dino, Bite Me, Tako and Lolli emoticons and 15,000 Blankos Bucks. ($149.99)

Founder’s Pack items will only be available for a limited time, or until the limited quantities sell out; Mythical will not reissue these special-edition Blankos or their accessories in the future. These exclusive Founder’s Pack items will be available for purchasers to unbox and play immediately in the private beta, and can also be sold to other players when the Blankos secondary market launches.

For additional details on Founder’s Packs and their contents and benefits, or to purchase one of the limited edition packs, please visit Blankos.com. Packs can be purchased with fiat currency, or supported crypto payment options via BitPay (Binance USD/BUSD, Bitcoin/BTC, Bitcoin Cash/BCH, XRP, ETH, Gemini US Dollar/GUSD, Circle USD/USDC and Paxos Standard USD/PAX). In addition to purchasing a Founder’s Pack to receive priority access to the private beta, players can reserve their free accounts now on the Blankos website to get on the waiting list for the chance to be included in the private beta without purchase (subject to capacity).

Source: https://www.fintechnews.org/founders-packs-now-available-for-the-first-aaa-blockchain-game-blankos-block-party/

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