How to Spot a SCAM? 611

More and more startups are entering digital currency market aiming to make money on investors and, accordingly, more and more investors also do so, aiming to make money on startups. It is perfect when both manage to cooperate effectively but unfortunately it is not that common thing.

We do face a lot of scam ICO projects. However there are less obvious fraudsters than hidden scam-projects which often look pretty well at first sight. Simple frauds do not care about details that actually show the origin of the projects: last-minute website, no White Paper or an “empty” one, founders swear that you will make a fortune by the end of the week. Sometimes these projects might have been rather successful earlier, but at one point something went wrong. So it is very important to be able to identify scam features and react quickly – stop backing the project or do not even start making investments.

But how to spot a fraud? To detect scam you basically have to think like a scammer. So what will a typical scammer do?

1.Unclear concept of the project

The first thing an investor usually does is reading project description, roadmap, and White Paper. Basically it should be absolutely clear what profit will an investor gain and when will it happen. If there are more questions than answers then you’d better stay away.

2.Last-minute website or a purchased one even without changes in design

You can check a domain name in web-archive or use who.is to find out when the website was registered. It requires some time to develop a particular project however scammers do not take care of that as most of them are ready to say goodbye and disappear as fast as possible.

3.Fictive and incompetent team

Steve Ballmer, former head of Microsoft, once said: “Developers, developers developers”. It is important to understand who stands behind the project and who is in charge of its implementation. Trivial incompetence can ruin even the most groundbreaking idea.

Today you don’t have to work for CIA or FBI to be able to investigate social networks or other internet resources and find out some information about the team of a particular project. It happens that CEO or advisors are not educated and experienced enough, their background is unclear and there is no evidence that they will manage a project properly. Take it seriously and remember that the time you spend on it will cost less than unprofitable investments.

4.No feedback or a vast number of fake comments and profiles

If there are no reviews and comments, that looks suspicious. However, the project may have just started and yet not so many people are aware of it. It’s much worse when forums and social networks are full of fake comments. The same thing is about advertising. When it becomes aggressive and the team is trying to retrieve the situation by media hype it might show that the project is not attractive enough.

5.Bad community and troubles with bonuses

It happens that even the most sustainable company experiences force majeure. Anyway this  information is usually widely discussed by the community and with each investor. There`re many articles posted on company’s blog and other resources. When the project starts “sinking”, the communication with the community is often getting worse – users have to wait for the technical support to reply and it may respond with standard phrases giving no valuable information. Details usually show how a startup presents itself: if it changes the terms of ICO bonus campaign or does not follow its own Roadmap – this is a strong signal that you should not make investments in it.

SCAM-roulette

When talking about scam we should always keep in mind that there are fraud-projects and just unsuccessful startups that did not went well for whatever reason. You never know.

 

TOP 5 ICOs in September Worth Your Attention 207

deer ico autumn

The last days of summer do not make investors upset, since new ICO project arise on the crypto horizon which plan to become a real breakthrough of this autumn. This is what The Coin Shark’s regular compilation is going to be about.

1. Cyber Capital Invest (from September 3 till September 17)

Cyber Capital Invest is a Cryptocurrency Investment Fund where professional traders guarantee you profit.

Cyber Capital Invest aims to help people who would like to trade on the cryptocurrency market but due to a lack of experience or skills, do not know how to get started.

Cyber Capital Invest also aims to help skillful traders who do not have access to large asset portfolios. Cyber Capital Invest will thoroughly select strong crypto traders to give them this opportunity.

CCI is a Profit Share Token which allows you to receive weekly profit from the consistently growing Trading Capital.

About the project: https://www.cybercapitalinvest.io/
Whitepaper: https://www.cybercapitalinvest.io/documents/CCI%20WhitePaper.pdf

2. EMMARES (from May 5 till September 30)

EMMARES was recognized by our magazine as a top project already in the past – in their presale phase in April. We compared joining EMMARES to investing into Google in early days. And in the meantime the team has progressed greatly. They released a fully functional MVP and the platform is alive. The only system for organic growth of interested recipients in email marketing is born. And EMMARES is surely one of the most marketable projects in Crypto space, solving real-life problems of wide usage, with the impact on our online lives with global reputation. And through that reputation the system will result in a better online content and less spam.

With great and experienced team and published full functional MVP they proved that the system is reality.

Therefore, we choose EMMARES as a top project of August 2018 and we are sure, that EMMARES will become the ultimate tool for all of us.

About the project: https://emmares.io/
Whitepaper: https://emmares.io/whitepaper.pdf

3. Papa Carlo (from September 1 till September 30)

First world’s multi-mining system for SHA-256 and SCRYPT, able to mine more than 14 cryptocurrencies.

Multi-miner Papa Carlo with the high productivity is manufactured with the capacity of Samsung Foudry. It is silent because of water cooling system, more efficient than ever because of its core – an ASIC chip with 7nm process. The basis for the miner is a multifunctional crystal that houses 3 types of logical cores. 2 of them allows mining of more than 14 cryptocurrencies easily switching between them, and the Cortex M4 core is used in a variety of devices such as IoT, Wi-Fi, BLE, etc.

About the project: https://buratino.io/index.html
Whitepaper: https://buratino.io/1page-EN.pdf

4. AgroTechFarm (private sale till December 31)

AgroTechFarm is the revolutionary fully automated intelligent appliance powered by blockchain and patented technology for the industrial and industrial cultivation of popular and unique species of various types of greens, vegetables and fruit all year round and regardless of climate conditions. Our mission is to supply the world with 100% healthy food through the use of the latest technology and blockchain.

AgroTechFarm is a device for growing natural food. ATF will provide you with fresh organic vegetables, berries, and greens throughout the year, without chemicals, and regardless of your climate conditions.

The AgroTechFarm company that has been developing pioneering agricultural technologies since 2012, announces its ICO to quickly scale the product and go global. The device will be launched in production this year, regardless of the ICO results.

About the project: https://www.agrotechfarm.io/
Whitepaper: https://www.agrotechfarm.io/docs/wp_atf.pdf

5. Agate (from August 21 till November 15)

Agate is the world’s most comprehensive decentralized blockchain platform for instant payment without volatility risk to mainstream crypto adoption.

AgateChain is a complete set of a decentralised blockchain, with two mobile apps, a fiat pegged ecosystem, an API Suite, plug-ins, add-ons and a physical POS terminal and operating with multi coin mechanism and works as a comprehensive crypto infrastructure for everyday banking and a gateway to connect millions of developers, users, and in-store and online merchants to the cryptoeconomy. It consists of several modules and objects, all fueled by AGT token that has over ten sustainable utilisation and revenue streams. Most of its modules are already built and working or have Beta versions and will complete shortly after ICO.

About the project: https://www.agatechain.org/
Whitepaper: https://www.agatechain.org/pdf/WhitePaper/Agate_whitepaper_English.pdf

Õpet Foundation Will Make Education Accessible and Effective for Everybody Everywhere 510

opet foundation

What is Õpet Foundation?

Õpet Foundation is a project based in Singapore which specializes in the field of education which is undoubtedly one of the major areas of human life. It brings such innovative technologies as blockchain, chatbots, machine learning and artificial intelligence in order to store and organize data, solve major problems in this sphere and, most importantly, help student receive knowledge in the easiest and most efficient way possible. Õpet Foundation will help high school students with affordable exam preparation and especially those ready to enter college. This project will change education for the better and advance global education inclusion!

What problems does Õpet Foundation intend to solve?

  • Lack of assistance. Imagine a high school graduate: a confused teenager about to make one of the most important choices of his/her life. Õpet provides high-quality guidance for those graduating from school, with constructive college-counselling and AI recommended global opportunities tailored to the teenager’s preference, personality profiles, academic and extracurricular inclinations.
  • Expensive tutors. A high school senior will be facing graduation exams and/or entrance exams to college at some point. Nowadays, tutors charge ridiculous money and sometimes do not even prepare the kid for exams. Using AI and machine learning, preloading exam-prep revision delivered through chatbots, Õpet makes pre-exam prep available and affordable for everybody.
  • “Onerous” admission process. Õpet is using distributed ledger technology to make admission transparent, quick and student-friendly.  The student just need to provide a private hashkey to the college (s)he applies to, and the institutional admission office unlocks the data with the token – voila!
  • Lack of security and inequality of access. Getting enrolled in college is quite an endeavour. There are often third parties involved such as expensive placement agents which cannot be trusted, and overall education is full of corruption, where they write essays on ill-qualified students’ behalf and forged testimonies. Blockchain will help to level the inequality, while advancing our vision of enabling the equality of opportunities.
  • Corruption in Edu-related philanthropy.  Õpet’s platform will help empower a new form of edu-related philanthropy, blending full transparency without leakage – where donors can purchase tokens from independent crypto-exchange, and transfer directly to beneficiaries without leakage and with access to their app-usage pattern and academic + extra-curricular progress for subsequent sponsorships!

Cool features of Õpet Foundation

  • an online personal recommender
  • an AI tutor
  • career counseling
  • simplified enrolling process
  • a mobile app chatbot
  • partnership with the University of Cambridge
  • a creative and experienced team
  • huge market potential

ICO details

The intra-platform currency is called OPET token. Its main ICO stage is going to start on the 1st of October, 2018 and will last until the end of the year. The price of 1 token is 0.002 ETH. The project has a soft cap of 10 thousand ETH and a hard cap of 60 thousand ETH. Early investors will enjoy an abundance of bonuses during all stages of the token sale.

If you want to find more info on Õpet Foundation or join its ICO, please, join the official website: https://opetfoundation.com/

The Coin Shark does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions. The Coin Shark is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the article

Blockchain Transactions: How Do They Work and How to Track Them? 833

blockchain transactions

Satoshi Nakamoto, the creator of Bitcoin, published an article “Bitcoin: A Peer-to-Peer Electronic Cash System” in 2008 and introduced a fundamentally new way of exchanging money. From that moment on, the need for a third party, like a bank or other financial institution, simply disappeared. In fact, this has become a new financial revolution.

Today we will talk how blockchain transactions are conducted from a technical point of view, how reliable they are, what features they have and how they can be tracked.

Contents:
(please, click the topic to scroll down to it)

  1. How does blockchain work in general?
  2. How are transactions organized?
  3. What features do blockchain transactions have?
  4. How to test a blockchain transaction?
  5. The reasons why transactions can freeze
  6. Conclusion

1. How does blockchain work in general?

We should start with the fact that Bitcoin is the first ever completely digital currency. Unlike electronic money, it does not exist even as a digital file. It is a huge stream of data about all the transactions that have ever been conducted. Blockchain is presented in the form of a giant accounting book, which is available to all network participants.

Each transaction is not stored separately, the information is placed in the blocks. Different networks have different block sizes, for example, until recently one block in the network of Bitcoin “weighed” 1 MB. But the BitMEX report says that after the introduction of the new SegWit protocol, the average size of one block has increased to 1.06 MB, and some have reached 2 MB.

In order to obtain a new block, there are different mechanisms for consensus. The most widespread ones are:

  • PoW (proof of work). Here, the miners need to solve a complex cryptographic equation. After that, a new block is added, for which the system rewards the finder with a certain number of coins.
  • PoS (proof of stake). This mechanism involves adding a new block to a user who has a certain number of coins. The more coins a user has, the more likely he/she will generate a new block.

Each subsequent block stores information about the previous one. Another important feature of blockchain is its decentralization, since information is simultaneously stored by all participants of the system (miners, master nodes). Thus, after the block is added to blockchain, it can not be changed or deleted.

2. How are blockchain transactions organized?

As it was mentioned above, transactions that are carried out in the network of blockchain do not require the participation of a third party. Let’s see how this happens in practice.

Let’s say you want to transfer 0.5 BTC to another person. Before the system recalculates the wallets’ balances (not transfer, namely, the recalculation), this transaction will fall into the so-called Memory Pool – the operational memory of all the miners connected to the network. After this, the blockchain transaction must be confirmed by at least 6 different miners. They (miners) should check the correctness of the transaction:

  • the amount of commission for each byte of information;
  • the physical possibility of adding a transaction to an existing block (if there is too little space left in the block, the transaction is transferred to the next one that still needs to be found).

After these actions, the data on the operation are permanently entered in the blockchain, and the coins are credited to the wallet of the recipient.

3. What features do blockchain transactions have?

Based on the abovementioned information, it is worth highlighting a number of features that are typical for blockchain transactions:

  • Irreversibility. Since the blockchain system is a decentralized system, it is not possible to affect the data that has already been entered in the register. Therefore, it is impossible to mark the already completed operation.
  • Lack of regulation. Due to the absence of the center from which the system is managed, it is impossible to completely prohibit and shut down cryptocurrencies. To do this, you must destroy all the computers of miners.
  • Anonymity. Each blockchain has its own level of anonymity, but in any case, even in pseudonymous anonymous networks, such as Bitcoin, for example, the names and surnames of users are never used for transactions.
  • Reliability. The network algorithm fixes the balance of all the wallets at the same time, but only a user who has a private key can make a transaction from a particular wallet. Subject to observance of elementary security rules, it is not possible to crack the wallet. You can lose your coins only because of your own fault. For example, if you send them to the wrong wallet, infect your computer or smartphone with a virus or somehow let scammers get private keys.

4. How to test a blockchain transaction?

Transactions in the Bitcoin network can be tracked on the site www.blockchain.info. In order to see information about a particular transaction, you need to go to this site and enter a unique transaction hash in the search bar. Then the system displays the actual information.

In this service you can also see information about a particular wallet:

  • transactions in the history (by dates);
  • the total number of coins that passed through the wallet;
  • the list of all addresses which there have ever been interactions with (incoming or outgoing operations);
  • current balance.

5. The reasons why transactions can freeze

The main problem of Bitcoin and many other coins is the speed of blockchain transactions. As for  BTC, this indicator reaches a mark of 7 operations per second. Previously, when the total number of users was small, this was enough. But now, with the growing popularity of the industry, the “line” for the transaction can turn into tens and even hundreds of thousands of unconfirmed operations. You can view the current list, which is updated in real time, on this service.

Some transactions may even freeze in the Memory Pool for a long period of time (up to 72 hours). What factors affect the speed of transaction confirmation?

  • Total pool load.
  • A very small commission. Miners confirm transactions with a larger commission in the first place.
  • The transaction weight is too big, and it simply does not fit into the almost completely filled block. In this case, it will be automatically transferred to the next one.

6. Conclusion

Cryptocurrencies have made a real revolution in the financial sector, on a scale that we still can not comprehend. The number of blockchain transactions is growing every year. In order for everyone to be able to use Bitcoin at the same time (like Visa, for example), it is necessary to solve the problem with bandwidth.

Blockchain transactions have both their advantages: the absence of intermediaries, small commissions, anonymity, security, and their shortcomings: irreversibility, low throughput.

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AgroTechFarm – the Global Eco Blockchain System 1396

agro tech

AgroTechFarm is the revolutionary fully automated intelligent appliance powered by blockchain and patented technology for the industrial cultivation of popular and unique species of various types of greens, vegetables and fruit all year round and regardless of climate conditions.

One of the most important objectives of this project is to supply the world with 100% healthy food through the use of the latest technology.

What are the main benefits?

  • 100% Natural food
  • No chemicals and other impurities
  • Patented technology & blockchain
  • 99% predictable harvest volume
  • Stable plan for your business
  • Availability of your favorite food anywhere and at anytime
  • Easily accessible i-App  
  • Ready-to-use analysis and digitization of the growth conditions of any species from the list of cultivated
  • Reduction of the environmental harm

How is ATF going to do it?

The ATF technology combines hydroponics (water), aeroponics (wind), heating and controlled light (sun) to imitate the perfect climatic conditions for the growth of plants. There are only two resources required to have fresh, organic food all year round: water and electricity. By leveraging the combination of technologies, ATF achieves a 30% quicker growth without the use of chemicals or other unhealthy practices.

The process is fully automated: you simply add seeds (like filling coffee beans in a coffee machine), nutrient solutions (similarly to adding laundry liquid in a washing machine) and get the crops in when the time comes.

Who can use it?  

Anyone. The solutions that this project offers are suitable for private, commercial and industrial use. Depending on your preferences and needs, you can install them at home if it’s for personal use or open farms and grow your natural and healthy food all year round.

What’s the deal with Blockchain?

With an introduction of blockchain, ATF will be able to keep the record of all conditions of each plant such as: origin, whether some growing procedures were different in comparison with the recommended ones etc.

Imagine a situation where some farmer decides to deceive his customers and manipulate with the growing process by adding pesticides. With a blockchain technology, all procedures will be recorded in a safe place whereby any change will be visible to everyone.

How can I join the project?

Currently ATF is holding a Private Sale. One of the features the project can offer to its investors is a 20% bonus with a purchase of Tokens. Apart from Tokens, there is a high interest from private investors. In particular, ATF is already working with accredited investors from USA and Asia.

In every scenario, ATF welcomes everyone to contact them and ask any specific question in detail regarding the participation in the projects and conditions. The team will be more than glad to explain everything thoroughly and guide personally through every step in order to start living a healthy life.

Find your true organic innovation together with AgroTechFarm
Visit the web at: www.agrotechfarm.io 

The Coin Shark does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions. The Coin Shark is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the article

The Project Joys: A Cup of Coffee For Crypto 988

project joys

The digital economy breaks the habitual models of the branch markets and increases the competitiveness of their participants. Digitalization determines the growth prospects of companies, industries and national economies in general.

The digital economy is now facing a big challenge: whether the blockchain technology and cryptocurrencies will be integrated into the real economy. Digital currencies do not yet fulfill all the functions of money, and the owners of cryptocurrencies remain limited in the possibility of their exchange for goods and services. Despite the popularity of digital currencies, they can not be used as payment everywhere. It is also not easy to convert the funds into fiat: it is inconvenient, long and expensive to use exchanges. The Joys Digital payment service will allow customers to quickly and easily buy goods and services using cryptocurrencies and tokens of blockchain projects.

Despite the legal uncertainty, there are prospects for acquiring cryptocurrencies in most countries. So says the CEO and co-founder of Joys Digital Andrei Mikhailishin:

The seller and the buyer need to be provided with a legal, convenient and reliable way to exchange crypto into fiat when buying goods or services. Thus, the state should receive taxes for such operation.

To do this, the client just needs to transfer the required amount of BTC or other cryptocurrency to the virtual wallet JOYS Wallet, after which Joys converts it into fiat at the time of purchase. At the same time, cash accounting is conducted in the national currency.

I bought a cup of coffee for tokens for the first time in my life. The apps and the wallet with coins are developed on the blockchain, in this case this turned out to be a Joys Digital creation, “- says Evgenia Ovchinnikova, the Director of Innovation of Raiffeisenbank.

Joys Digital has already launched the first test platform in the Center for Digital Transformation in Moscow, where the purchase takes place in the internal currency of the Center.

Large banks – Sberbank, VTB and others – understand the whole story, and the sooner they start using the service for accepting cryptocurrency, the faster they will receive their customers coming from one and a half million crypto holders in Russia. So what is the future of banks and payment systems?

Opinions vary, but most analysts agree that in the future cash and plastic cards will become extinct. They will be replaced by electronic means of payment, which we can use to pay for any goods and services. Banks have already seen competition from financial companies and mobile operators. If mutual lending joins fintech, then more than half of the banks will simply be destroyed in ten years. The bank office will move to a mobile phone, through which it will be possible to pay for the whole set of services. Most likely, cards as a means of payment will disappear, and remote identification will allow you to receive loans and carry out other types of transactions. The main advantages of cryptocurrency over fiat cards:

  • availability at any time,
  • openness of code (transparency);
  • high reliability;
  • consensus on operations;
  • independence, low transaction costs, etc.

Owners of cryptocurrency can already make different financial transactions in any cryptocurrency anywhere in the world. With time and competent state regulation, the use of cryptocurrency will become normal and will be widely applied. The American banker and author of the book “Bank 3.0” Brett King states that our generation is the last one using plastic cards. The future is the time without the usual paper money. “Future money is a digital record in a certain information system or systems, the value of which will be determined by technology, their scope and user confidence in such systems,” says the creator of Joys Andrei Mikhailishin. And, finally, banks that do not implement financial technologies similar to Joys will soon leave the financial market or lose a large part of it.

The Coin Shark does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions. The Coin Shark is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the article

GSC Aviation Comes Up With a Revolutionary Solution for Aviation Supply Chains 1939

gsc project

What is GSC Aviation?

GSC Aviation (stands for Genesis Supply Chain) is a platform developed in France, the main goal of which is to upgrade the system of supply chains in the sphere of aviation and later on car and railroad industries. Aviation supply chain management is currently in quite a poor state: it’s slow, pricey, unprotected and susceptible to mistakes. Most of these issues are caused by the fact that major processes are handled manually, and people, unlike machines, make mistakes. That being said, the slightest mistake in a sphere such as aviation can cost not only financial losses but also people’s lives. The industry is in desperate need of an upgrade and a transition to innovative technologies – this is what GSC Aviation was created for.

Unique features of GSC Aviation

  • Shipping as well as other activities are all going to be automated and decentralized. Benefits: supply chains will speed up, the possibility of accidental mistakes will reduce..
  • All the databases will be kept on blockchain. Benefits: quick access to all files, traceability, transparency.
  • The blockchain technology makes it possible to find out about any suspicious activities throughout the chain. Benefits: high level of security.
  • No third parties involved. Benefits: reduced costs and increased speed of transactions.
  • Creative and passionate teams of developers. Benefits: big potential of the project.
  • Adaptivity. Benefits: buyers, suppliers, any people involved in the aeronautics industry can use the platform.

ICO details

The project currency is called the GSCP token. It is backed by KYC/AML/KYB protocols for even more protection. The private sale is being conducted right now and will last till the 1st of September, exactly when the pre-sale is going to launch. The main token sale is scheduled for the 24th of September. It will last for 5 months. The project has a soft cap of $4 million and a hard cap of $24.9 million. The starting price of a token will be $0.04. The minimum purchase amount is €100.

If you want to take part in any of the ICO stages for this amazing project. Or you want to keep project or you want to keep up with its further development, please, visit the official website.

The Coin Shark does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions. The Coin Shark is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the article.