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US Crypto Exchange launches USDC holders rewards

Coinbase launches a reward program for its US customers that will return users’ money for each USDC holders.

October 3, 2019, | AtoZ Markets USD Coin (USDC) is an ERC20 stablecoin supported by the US dollar. USDC allows people to use US dollars without requiring a bank account or specific geography. This digital currency is regulated, transparent, and verifiable.

The USDC is the 23rd crypto by market capitalization of around $452 million at press time. USDC is the product of an open-source technology consortium called CENTER, co-founded by Circle and Coinbase. CENTER is responsible for the governance of cryptocurrency and focuses on the growth of use between institutions, traders, and people around the world.

USDC Holders’ Rewards

Coinbase has declared the launch of a crypto rewards program for its users. Beginning of Wednesday (October 2), eligible US customers will earn 1.25% APY for each stable USDC currency they hold on the exchange. According to Coinbase, “USDC Rewards is for Coinbase customers to earn a return on USD Coin holdings without having to sell or trade any cryptocurrency.”

Coinbase also notes that the exchange does not “lend or manage” its users’ USDC holdings. “Your crypto is yours and always remains in your account. You earn money simply by storing your crypto securely on Coinbase,” says the company.

It is one of many on a long list of crypto that aims to maintain a stable pin to the fiat currency consistently. Since its launch, its value has fluctuated steadily between around $ 0.99 and $ 1.02. According to CoinMarketCap, the crypto asset currently has a volume of 144.5 million dollars in the last 24 hours.

Coinbase intends to extend its crypto reward program to other cryptocurrencies. A Coinbase spokesperson tells The Block: “We are always exploring new ways to help Coinbase customers grow their crypt wealth. Before USD Coin Rewards, we started offering customers a way to earn crypto to learn about new assets through Coinbase Earn. As always, we are invested in developing products that are more beneficial to our customers and help us build an open financial system “.

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Major Crypto Exchanges suspend FSN Token after $6.4 million theft

The Fusion Network swap wallet has been compromised, causing the theft of around one-third of the FSN tokens.

September 30, 2019, | AtoZ Markets The Fusion Network is a financial platform, utilizing blockchain technology, and providing users with fast and easy cryptocurrency exchanges. Additionally, the Fusion Network platform facilitates the development of blockchain-based applications and use-cases, thanks to application programming interfaces with a predominantly financial focus.

According to Fusion Network CEO DJ Qian, the platform was hacked at the beginning of September 29 and, as a result, about a third of all FSN tokens currently in circulation were stolen. Based on the CoinMarketCap calculations, the stolen tokens accounted for approximately thirty-eight percent (38%) of all FSNs in circulation.

At the time of the theft, the worth of these tokens was close to $6.5 million. Following the declaration of the hack, the value of the FSN tokens dropped to half.

Crypto Exchanges suspend FSN Token

Deposits and withdrawals of FSN tokens would be suspended on exchanges of cryptocurrency such as Huobi, OKEx, Bitmax, Citex, and Hotbit in an attempt to prevent the laundering of the funds in question. All remaining funds in the swap token wallet were moved to a cold wallet, and anomalous transactions were tracked.

Theft of FSN tokens

FSN announced in a Medium post published on September 29 about the theft of FSN tokens. Its swap wallet was compromised, which led to the stealing of 10 million native FSNs and 3.5 million ERC-20 FSN chips based on the Ethereum (ETH). The total value of the stolen FSN tokens was estimated at around $ 6.4 million at that time.

It is the first major hack of the network, and Mr. Qian has urged users to remain together as a strong collective, to battle the consequences of the theft. Thankfully, the hacked wallet was identified quickly, and all remaining funds in it were transferred to several hardware wallets and other crypto exchanges like OKEx and Bitmax. According to Mr.Qian, this is an inside job. And the company has already reached some conclusions as to who might be involved. For the Fusion Foundation CEO, the hack was performed by someone who had access to the company’s private wallet keys.

At press time, FSN is trading at around $ 0.174 – over 66% less than the previous day, according to Coin360 data. As Cointelegraph reported yesterday, Amerian Internet infrastructure firm Juniper Networks found new spyware that uses the Telegram app to replace crypto addresses with its own.

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Will you download the new opera blockchain browser for iPhone?

June 28, 2019 | AtoZ Markets –  Opera, a web browser for Windows, macOS, and Linux OS has launched the iOS application for iPhone and iPad of its blockchain-ready Opera Touch browser. The new opera blockchain powered browser has been introduced on 26th June by the Opera community. 

Previously, the company has introduced the Crypto-Wallet to the Opera browser for Android in December 2018. In April, it launched the desktop version (both for Windows and MacOS) of its browser with a built-in cryptocurrency wallet. 

What is new in Opera’s blockchain browser for iPhone?

When it comes to Opera’s browser for internet surfing, it is outstanding amongst all other browsers that are available on the internet. After the community pushes Opera Touch browser for iOS now features crypto wallet integration and Web 3 support, the browser gained huge attention from the crypto users. 

Opera’s browser is powered by Ethereum wallet which is a popular and quickly growing protocol that allows people to make transactions and enables developers to create decentralized app. It provides a practical use for this technology. Opera Touch for iPhone supports all ERC-20 tokens, stablecoins and non-fungible tokens (NFT).

Opera for iPhone is inbuilt with Crypto Wallet, like the Opera browser for Android phones. Interestingly, the browser also supports the Ethereum Web3 API, making interacting with dApps smoother, without the need for browser extensions.

After making the browser useful for crypto investors, Opera became the first browser to do so. The community also believes that all modern browsers should integrate a crypto wallet. Also, this might enable a new business model to emerge on the web. 

Opera is bringing cryptos and Web 3 to the mainstream

Web 3 is still facing massive challenges before it can reach mass adoption. The barriers are due to less techy users are having issues to understand the new terminology, difficulties in understanding cryptocurrency concepts and complicated installation processes. 

Opera entered the cryptospace almost a year before. Using cryptocurrencies online and accessing Web 3 requires extensions, which makes difficult for users to even try it, however to some extent Opera browsers remove that fiction.

For the browser release, Opera has partnered with Marble.Cards. It is new and exciting Decentralization apps. This DApp turns web pages into digital collectible cards. Interestingly, almost any URL on the net can be turned into a card, but once only. This means that every Marble card has a unique identity. Marblecards are non-fungible tokens on the Ether blockchain network. It means that if users secure an interesting URL and turn it into a Marble card, then they can trade it.

Moreover, it is also possible to buy Marble cards created by other users. The dApp will be accessible via the built-in share feature which is visible in the dApp explorer on the browser’s speed dial. This allows users to create unique Marble cards from URLs of their own choice.

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Blockchain Real Estate Projects in Europe are growing

March 12, 2019, | AtoZ Markets – Real estate is one of the industries that could potentially be disrupted by the use of blockchain technology in the future. On 01 March 2019, Blockimmo Ltd, a Blockchain property transaction platform has successfully completed “the first” real estate transaction on a blockchain in Switzerland, along with two other companies. According to the announcement by Blockimmo, Blockimmo, Elea Labs Ltd. and Swiss Crypto Tokens Ltd. conducted a real estate blockchain transaction of $3 million that consists of 18 apartments and a restaurant.

And recently, a Dubai-based real estate giant Emaar has announced its plans to launch a token, along with a blockchain real estate projects as reported by their local media Arabian Business on March 11. This will be among the first referral and loyalty tokenized real estate project in the world giving access to an existing operational ecosystem of close to $10B.

Blockchain real estate projects are rising in the EU

Our AtoZ Weekly crypto overview of last week revealed that the blockchain technology is being adopted more nowadays in existing jurisdictions and industries. One of these industries is the real estate sector. The blockchain technology intends to disrupt the way real estate companies work in a traditional way. But it might not be profitable in the future, especially when middlemen become redundant and blockchain real estate projects come into play. The blockchain technology could disrupt real estate network and could reduce risk aversion through a trustless environment. This might ease property transactions without the need for third parties. Moreover, greater market demand for transparency in the global economy has encouraged innovation in tokenized real estate. 

Emaar’s tokenized real estate project will be developed by Lykke, a Swiss blockchain startup and will enable Emaar’s clients and stakeholders to access the referral and loyalty system across the entire company. The group is one of the largest real estate company in the United Arab Emirates (UAE) and located behind the city’s most famous structures such as the Burj Khalifa, Dubai Fountain, Dubai Mall, and Dubai Opera.

Chairman of Emaar Properties, Mohamed Alabbar, quoted of the decision to develop a tokenized real estate project and expand their reach in Europe:

“We continuously strive to expand our reach, strengthen our growth and extend the Emaar experience. We have embraced the digital world even as we continue to build the most advanced and innovative physical structures and we use both to delight and benefit our customers and stakeholders globally. The Emaar community token marks a significant leap in our digital transformation journey.”

The above statement by Alabbar highlights the company’s intense focus on innovation and providing the most complete experience to drive customer service and loyalty across its businesses. This might enhance customer satisfaction, growth, and profitability.

Emaar plans for a tokenized real estate

Tokenized real estate can make many processes associated with property transactions happen faster and at a lower cost. This might enable greater liquidity in the market. As blockchain real estate projects are constantly growing since the past few years, a $30M New York property became the first asset to be tokenized real estate using the power of blockchain technology. Now, the Emaar’s blockchain real estate projects also consider holding an ICO in Europe within a year of the internal operational launch of the platform. Lykke, the startup developing the token will follow the ERC-20 token standard and release it on the Ethereum blockchain platform.

CEO of Lykke, Richard Olsen, also said that:

“We have developed cutting edge technology infrastructure with mass-market usability to support our core belief that all mobile and internet users should be able to participate in economic activity, regardless of the size of the contribution. We are thrilled to leverage our experience and expertise to support Emaar’s mission to bring value and utility to millions of users globally.”

Moreover, the Emaar Properties illustrates a revenue of $5.83B and has been valued at $9.7B as of June last year according to Wikipedia. Also, as per Arabian Business, Emaar’s revenue grew by 37% last year to $7B.

Think we missed something? Let us know in the comments section below.

 

How to add custom erc token in myetherwallet

One of the most common questions new cryptocurrency industry participants ask is “how do I add custom ERC tokens to myetherwallet or nanoledger wallets?”. In this article we will show you the step-by-step activities to add that new ERC20 ICO tokens to your wallet.

March 5, 2019, | AtoZ MarketsMyEtherWallet or MEW is a web-based, non-hosted wallet, where you can control your funds. It is written in Javascript language and is an open-source wallet. Moreover, it is a user-friendly application for storing or transacting Ethereum, ERC20 tokens and smart contracts. But, many new crypto players do not know how to add custom erc token in myetherwallet.

Myetherwallet is the most popular free crypto wallet with its web interface. It offers its users to either deposit and transfer Ethereum and other ERC tokens. You can do it either directly on MEW or via MEW Ledger Nano X (see ledger website) or Trezor interface. In this article, we explain how to unlock or manage new ERC20 tokens received at your MEW wallet.

How to add custom erc token in myetherwallet

You have received the new ERC20 token in your MEW wallet, but you can not see it? No need to panic! Your token is safe and is in your wallet. However, you need to take a few steps. Therefor, you may not be able to find your token in your wallet when you log in to your MEW.

NoteYou can always confirm your token balance on an Ethereum Explorer by pasting in your Ethereum address in the search bar. Then, you need to click on the ERC20 “Token Balance” drop down menu.

You need to use your private keys to manage your new custom ERC tokens or send them to an exchange. Thus, if you don’t need to send your new ICO tokens anywhere, don’t export your private keys. By typing in your private keys online you are opening security vulnerabilities for yourself.

Once you have your private key, you can open the official MyEtherWallet.com website, which is www.myetherwallet.com. When visiting MyEtherWallet web interface, it is important to check the URL at your browser. Check the spelling and make sure that there is an SSL certificate in place.

Note: You can identify SSL certificate on your address-bar. Websites with SSL certificate will have HTTPS instead of HTTP. Additionally, Tthere will be a small green lock sign in your address bar.

Most importantly, always be careful with your private key, as it controls your Ethereum (ETH) and all your ERC20 tokens. And never share your private keys with anyone. Here is the step-by-step guide to unlock new ERC20 token in the MyEtherWallet.

Let’s go through the process of adding new custom erc tokens in myetherwallet. The following is the step by step MEW custom ERC token listing guide:

  • Open Ethplorer.io;
  • Write down your new ERC 20 token name;
  • Note/copy the address & decimals of this token.
  • In a new tab, navigate to the “Send Ether & Tokens” page on MyEtherWallet.
  • Unlock your wallet following the detailed steps below

1. First, click on the ‘Send Ether & Tokens’ tab in the menu bar of MEW.

2. Click the ‘private key’ option and paste your private key into the private key box, then click ‘unlock’.

Note: Using private keys is not a recommended way of storing your cryptocurrencies. It is highly recommended to use NanoLedger. You can order your ledger by visiting www.ledgerwallet.com

3. This will bring you to the transaction screen.

Scroll down and on the right side of the window, you’ll find the ‘Token Balances’ section. First, click ‘show all tokens’ and allow a minute or two for MyEtherWallet to recognize your existing token balances. If the token you want to send doesn’t display in the token balances section, you’ll need to unlock it manually. Click ‘Add Custom token’ button. 

4. To add your custom token, you will need some technical information for your specific token’s smart contract. Open ethplorer.io and search for your token’s name.

5. You’ll need the ‘Decimals’ value and the smart contract address.

6. Return to MyEtherWallet, and copy/paste the information from ETHplorer.io into the required fields, then hit ‘save’ button. 

7. This will add your new ERC20 token to the list of token balances. And now you can scroll back up, and pick your token from the token selection menu.

8. At last, just enter the address you want to send your tokens to, and the number of tokens to send. The ‘Gas Limit’ field should fill up automatically.

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SEC Fines EtherDelta Exchange for Being Unregistered

November 09, 2018 | AtoZ Markets

In a press release issued Nov. 08, the U.S. Securities and Exchange Commission (SEC) has charged Zachary Coburn, the founder of crypto token trading platform EtherDelta, with operating an unauthorized securities exchange.

The aforementioned exchange, which trades in ERC20 tokens, allows its users to buy and sell digital assets using smart contracts and order book, based on the Ethereum blockchain.

The SEC press release read that over 18 months of operation, EtherDelta’s users placed more than 3.6 million orders for tokens, including ones that are considered securities by U.S. federal laws.

Most of the orders were executed after the DAO report the SEC had released in June 2017, as per the press release, and while under the current law EtherDelta is obliged to register in the U.S.A, or to apply for an exemption; the previously named platform failed to do.

EtherDelta’s founder Coburn neither admitted nor denied the findings, but he agreed on cooperation and paying the state $300,000 in unlawful profits, according to the regulator’s notes.

The fine would have been greater

Coburn agreed as well to pay $13,000 in prejudgment interest and a $75,000 penalty. The SEC added that if Coburn would have faced a greater fine, if he had failed to cooperate with the investigators.

The SEC had reportedly suspended in October securities trading of Nevada-based firm American Retail Group, Inc. for forging the regulator’s approval on their cryptocurrency tradings.

The media reported in earlier this month as well, that the SEC is currently taking action against “dozens” of illegal Initial Coin Offerings (ICOs). The annual enforcement report for the 2018 fiscal year mentioned

Several ICO were named in the annual enforcement report for the 2018 fiscal, pointing to three of which defrauded investors accumulated more than $68 million.

ERC20 Developer Proposes Reversible ICO Concept

Fabian Vogelsteller, one of the ERC20 developers, suggested a new reversible initial coin offering concept during the Devcon4 in Prague. He stated that he feels ‘obligated’ to propose an ICO alternative.

31 October 2018 – The developer who helped create the code that supports Ethereum’s ERC20 token standard, Fabian Vogelsteller, proposed a new form of Initial Coin Offering (ICO). The innovative form of ICO aims to make funding safer for investors. 

What is a reversible initial coin offering (RICO)?

Fabian Vogelsteller spoke during the Devcon4 in Prague. He stated that he feels responsible for the ICO popularity craze. Since some of the reports stated that the failure rate of ICOs stands at 50 percent or more, the developer stressed that he feels “obligated” to create an alternative to ICOs. Following on this, he introduced a concept of a “reversible ICO.”

A reversible initial coin offering (RICO) would enable investors that purchase tokens in a sale to receive their investment back during the project via a special-purpose executable distributed code contract. 

The model would create volatility in the value of a project, as investors buy or withdraw funding. ICO project organizers would need to compensate for the potential volatility by securing private capital investment. 

Vogelsteller thinks that RICO would diminish the number of fraudulent firms in the market, thus safeguarding investors. RICO projects would also “fail naturally” in case market backing withdrew. 

For testing of the new RICO model, Vogelsteller plans to execute this concept with his own startup, Lukso. 

Buterin’s Interactive Coin Offerings

According to Vogelsteller, the current ICO model encourages ICO creators to buy “lambos rather than doing something useful.” 

In addition, other industry insiders, such as the Ethereum co-founder Vitalik Buterin, have called for safer ICOs. Back in December 2017, TrueBit founder Jason Teutsch, accompanied by Buterin and Modular CEO Christopher Brown, created a paper called “Interactive Coin Offerings.” 

The proposal suggested a better assessment of tokens for investors as well as the option to withdraw funding. The concept was backed by the addition of smart contracts. In this model, the mechanism would automatically withdraw the investment in case the valuation drops below investors’ expectations. 

Think we missed something? Let us know in the comments section below. 

What is ERC827? New Ethereum Network Token Standard guide

ERC20 is one of the most common token standards used on the Ethereum network. It is utilized by a myriad of ICO projects worldwide. But what is ERC827? In this short article, we look over the key facts of the new development in the industry.

7 February, AtoZForex If you are familiar with cryptocurrency and ICO markets, you also might have a general idea about how the tokens function. As a matter of fact, there are a number of various token standards on the Ethereum network. They are required to support numerous token contracts.

What is ERC20?

You also might already be familiar with one of the most popular token standards –ERC20. This is a stable standard that makes it easy to create new tokens, while it also enables a significant level of customization. The majority of ICO project utilize ERC20 as their token standard.

Yet, this standard also has its drawbacks. The creators of ERC20 have been already working on the improvement of the standard. One of the newest updates for the ERC20 is so called ERC827.

What is ERC827?

ERC827 is one of the latest token standards and advancements to the ERC20 on the Ethereum network. The key aim of the project is to serve as a simple solution to some of the drawbacks of the ERC20. One of such shortcomings lies in the execution of calls in transfers and approvals. In fact, the GitHub abstract claims to use less than 100 lines of code to execute these extensions to the original standard.

The ERC827 still holds the easy-to-use nature of ERC20 standard. Yet, it additionally improves it just in the way as ERC223 attempted to do. The section “motivations” describes that within the current ERC20 model, only value can be transferred. Yet, Ethereum users can now transfer data and value both thanks to the ERC827. Moreover, ERC827 enables tokens to be approved to be spent by other on-chain third parties.

What is the future of ERC827?

The ERC827  has the potential to change the way we see the ERC20 token, according to some of the industry insiders. Its GitHub page indicates that many of the tried and true functions of ERC20 remain within the system. As an extra point, ERC827 also addresses transferFrom, transfer and approve.

Following on this, the ERC827 has quite a bright future, based on experts’ opinions. The fact that ERC827 not only improves on the drawbacks of the ERC20, but also keeps the compatibility of the previous version could play a big role in making ERC827 one of the most popular token standards.

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