Floyd ‘Crypto’ Mayweather is totally into cryptocurrencies

Floyd Mayweather — the same one that's fighting Conor McGregor on Aug. 26 — is serious about cryptocurrencies.

The boxing champ is promoting an ICO (Initial Coin Offering) of a startup called Hubii. In an Instagram post, which shows him posing in a (probably very expensive) suit, he described Hubii as “smart contract for sports.” He also wrote we can now start calling him Floyd “Crypto” Mayweather (his standard nickname is “Money”).

SEE ALSO: How to buy Bitcoin and Ethereum

This is the second ICO Mayweather is promoting. In July, he hyped up the ICO of a prediction market platform Stox, which went on to raise $33 million in Ethereum in less than two days.

Just like with the Stox ICO, it's unclear whether Mayweather is an investor or if he's actively participating in the ICO. In his plug for Hubii, he did use the hashtag #ad, so it's likely that the post is just a paid advertisement.

Norway-based Hubii has been around since 2007 and currently offers a locati..

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Ethereum Prediction Market Project Gnosis Sets ICO Launch Date

An ethereum prediction market project is moving forward toward its public debut.

Following its beta launch last fall, Gnosis, now a team of eight, will become the first incubation project of ethereum development firm ConsenSys to spin off into a separate startup, according to co-founder Stefan George and strategist Matt Liston.

The firm has further revealed that its token sale (or ICO) is now set for 24th April, with the fundraising target set at $12.5m.

If you're not familiar with the concept, prediction markets are a potentially useful type of betting tool – one proponents say could help forecast future events, such as sports games or political campaign outcomes, to greater societal benefit.

Platforms such as Gnosis and Augur aim to help drive the idea forward by experimenting with different decentralized models that can't be shut down by outside actors. At least, that's the idea. (It's worth noting that there has been some debate over the utility of decentral..

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Building ‘The Blockchain’: Developers Aren’t Giving Up on Big Ambitions

Even as bitcoin's block size debate rages on, enterprising developers are looking beyond the infighting to focus attention on what's ahead.

Adem Efe Gencer is one such developer. A research assistant at Cornell University's center for blockchain and cryptocurrencies, he believes blockchain technologies will come to be used on a broad scale to track everything from land records to deeds, fine arts and even precious metals.

But as Gencer explained, if we put each each and every asset on its own blockchain, we risk splitting the mining power that secures these transactions and their history. Putting everything on one blockchain, he countered, will lead to cluttering.

So, how will blockchains handle all of these multiple assets? Should we have dedicated chains? Or is there a better way?

At the Financial Cryptography and Data Security conference in Malta yesterday, Gencer offered a solution, outlining an approach called “service-oriented sharding”.

Sharding is basically ..

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Vitalik Buterin Doubles Down on Ethereum Incentive Strategy

On the first day of the Financial Cryptography and Data Security conference in Malta, an academic with a cryptography career spanning three decades ended his keynote with a caution.

Incentives should be used as a last resort, said MIT professor of engineering Silvio Micali, pointing to bitcoin and its industrial mining pools as an example of what can go wrong when people find ways to make money that nobody could have predicted.

But not everyone shares that view on incentives.

Fast forward to the Workshop on Trusted Smart Contracts at the tail end of the conference, and another keynote address.

This time, the speaker is someone with no formal background in cryptography. Yet, his success in creating one of the world’s largest blockchains, second only to bitcoin, is hard to ignore.

As he spoke to the audience, Vitalik Buterin, the creator of ethereum, argued that, not only do incentives play a key role in securing the blockchain, they are also the reason bitcoin soared to success whe..

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The DAO Ethereum Classic Refund Effort Has Been Extended

UPDATE (14th April 21:50 BST): This article has been updated to reflect that the ETC refund effort has been extended to January 2018.

More than $4m worth of classic ether remains in a DAO refund smart contract that has been extended to next January.

Some background: last summer, a project called The DAO raised more than a hundred million dollars worth of ether – the cryptocurrency underlying the ethereum network – as part of a bid to create a smart contract-based funding vehicle for ethereum-related projects.

Yet a flaw in the code was exploited, allowing an attacker to effectively walk away with tens of millions worth of ether – effectively scuttling the project in the process. It also sparked an effort to secure some of those funds on behalf of DAO investors, a process that wasn’t without controversy.

Ultimately, the drive to unwind the effects of the DAO collapse resulted in two distinct ethereum-derived blockchains: ethereum and ethereum classic. In the end, contracts were set ..

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Is $40 the New Floor for Ethereum’s Ether Tokens?

Ether prices have been hovering above $40 per coin as of late, indicating significant support for that price, according to several analysts.

Since 22nd March, ether, the cryptocurrency powering the decentralized application platform ethereum, has traded above this particular level.

During this time, ether has risen past $50 more than once, reaching as much as $53.78 on 29th March, according to CoinMarketCap. So far this year, the cryptocurrency has increased in value fivefold – from roughly $10 to $50.

Amid this continued strength, Joe Lee, founder and CEO of bitcoin derivatives platform Magnr, told CoinDesk that $40 appears to be a price ethereum users are happy with.

Charles Hayter, founder and CEO of data service provider CryptoCompare, offered a similar sentiment, telling CoinDesk he believes there's enough evidence now to deem it a “solid support level”.

Broad rally
The price of ether has been rising at a time when alternative assets have also been experiencing inflows. ..

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The UN Wants to Adopt Bitcoin And Ethereum – And Soon

The United Nations (UN) is in the final stages of what could be one of the most epic blockchain projects of all time.

After successfully using the ethereum blockchain to transmit Pakistani rupees to 100 people earlier this year, the UN's World Food Program (WFP) is arranging extra security to ensure it safely executes the next stage of its work.

A pilot test, scheduled to begin in Jordan on 1st May, will see the WFP sending an unspecified number of dinars to more than 10,000 recipients in need of financial support and extra food, with the goal of expanding the number of recipients to 500,000 people by 2018.

To protect the privacy of the recipients, the exact amount to be disbursed is not being revealed. But the technology being developed is part of an even bigger push to make the UN's services so resilient that they could survive even the destruction of the UN itself.

The secret to such a design, according to WFP financial officer Houman Haddad, could be to remove the din..

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ICO Insanity? $300 Million Gnosis Valuation Sparks Market Reaction

The latest in a long line of initial coin offerings, a sale held today for tokens that will power the ethereum prediction market Gnosis is emerging as a novel entry – if not for the reason intended.

Ostensibly designed to discourage the kind of speculation that has come to define ICOs, the resulting sale was arguably anything but usual – concluding in less than 15 minutes and with the creators owning the vast majority of the funds (95% worth more than $280m at press time).

In short, given the choice between waiting to purchase (thereby lowering the purchasing price of the tokens and decreasing the share of founder funds), investors jumped at the chance to buy the tokens that will power the network (now in beta) – just 5% of the project's tokens sold for a combined $12m.

The result has been that Gnosis is attracting significant commentary, with proponents arguing that it shows the strong demand for blockchain project funding and detractors asserting it's merely the latest c..

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What’s Driving Ether Classic to All-Time Highs?

The price of ether classic surged to an all-time high this week, surpassing previous peaks and largely surprising traders.

The cryptocurrency that powers the alternative ethereum software platform ethereum classic reached a fresh high of $4.11 at 12:00 UTC yesterday, according to data from CoinMarketCap. At this price, the digital asset was more than 16% above its previous highest value, set in 2016.

The cryptocurrency has retreated somewhat so far today to $4.02, but was still well above previous marks.

Created last July by a hard fork of the ethereum platform, ethereum classic is a continuation of the blockchain abandoned by that developer team. It has since attracted new developer and miner interest, and the resulting community later outlined a roadmap aimed at differentiating its software.

Currently, ethereum classic is the sixth largest blockchain by market capitalization.

Mixed opinions
As for what drove the cryptocurrency’s recent gains, analysts seemed short of explanation..

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Ethereum’s Ether Token Tops $60 to Set New All-Time High

The price of ether has hit a new all-time high, exceeding $60 for the first time ever.

Prices reached as high as $60.15 during morning trading, according to CoinDesk’s Ethereum Price Chart. Ether is the cryptocurrency that underlies the ethereum blockchain network.

As previously reported, prices have hovered above the $40 level since 22nd March, bouyed by what analysts say is a mix of positive sentiment and rising market liquidity. At press time, the price of ether is averaging about $59.

The price move comes days after the SEC disclosed that it has initiated the approval process for a proposed ether exchange-traded fund (ETF). The bid to launch the EtherIndex Ether Trust (the first proposed product of its kind) began in July 2016.

The bulk of the past day’s trading has taken place on digital currency exchange Poloniex, according to figures from CoinMarketCap, accounting for roughly $59m of the $202m in 24-hour volume reported by the site.

Hot air balloon image via Shutterstock; G..

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