Review of Tezos Cryptocurrency: A Replacement of Ethereum or Another “Promising” Project?

tezos

Every year new blockchain-based projects appear that can accelerate the development of entire industries. We will talk about one of them today. So, what is Tezos platform: a revolutionary solution for creating decentralized applications or another scam project, the coins of which will soon be useless? Let’s figure it out.

Contents:

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

  1. Basic information about Tezos cryptocurrency
  2. Advantages and disadvantages of the platform
  3. Forecasts for Tezos
  4. Conclusion

1. Basic information about Tezos cryptocurrency

This project originated back in 2014, when the first round of its ICO was held, which collected an impressive amount of $18 million. Tezos is a platform, the main purpose of which is the creation of decentralized applications on its basis. You have already heard about something similar, haven’t you? Yes, the Tezos concept is very similar to Ethereum, but differs in its implementation and approach.

It should be noted that the Tezos algorithm is designed in such a way that it can receive updates automatically. That is, Tezos solved the issue with hard forks, which split the community of cryptocurrencies and are an integral part of such giants as Bitcoin and Ethereum. This property allows all members of the Tezos community to be always cohesive and indivisible. The PoS protocol guarantees the safety and fair voting of the participants in the system for solving pressing issues. For this, you need to store tokens on a specialized Tezos Wallet.

The development team is headed by the couple Arthur and Kathleen Breitman. Project advisers are very well-known personalities in the cryptocurrency industry, such as: a large venture investor Tim Draper, the CEO of the Zcash project Zooko Wilcox and others. Thanks to these people, the project was able to hold a very powerful second round of ICO in 2017 and collect about $250 million.

2. Advantages and disadvantages of the platform

The indisputable advantages of this project include:

  • the first blockchain, that solved the problem of hard forks, which will help all participants in the system to focus on the development of a single product;
  • a fairly well-known and strong team of developers, which also inspires optimism in the long term;
  • the level of trust and loyalty among investors, as evidenced by two successful rounds of the ICO;
  • high level of system security, which is provided by the PoS protocol (each network participant who keeps tokens on a special Tezos wallet can vote);
  • a scalable platform based on smart contracts, which can potentially be used in any business.

But like every project, Tezos has its own weaknesses, which we simply can not keep silent about:

  • disagreement within the development team, scandals involving embezzlement and lengthy litigation;
  • the forced KYC protocol, which led to the split of the network even before it was launched (it should be noted that the project was meant to avoid hard forks).

3. Forecasts for Tezos

The coin certainly has good support and might even replace Ethereum in the future. The developers have everything they need to implement these plans, the question is how they will use it. A huge impact on the development of the project has a trial.

Just the other day, the developers announced the launch of the first network, but so far in the test mode. Full-scale launch is scheduled for the third quarter of this year. This suggests that in 2018 Tezos still has every chance to give a good payback to its investors. By the way, the project has already grown by about 500% compared to last year. The coin rate at the time of writing stays at around $2.1 – $2.2, although, less than a week ago it was a little more than one dollar.

4. Conclusion

The Tezos project might replace Ethereum, but the developers still have a lot of work to do to achieve this goal. The beta version of the platform was launched in early July of 2018, and a full-fledged launch is scheduled for the third quarter of this year.

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Malware From The Pirate Bay May Hijack Website To Steal Crypto

The movies downloaded from The Pirate Bay bring a malware to the user’s computer. That was the conclusion reached by a security researcher, with the nickname  0xffff0800 in Twitter. He told that when he downloaded a movie ‘The Girl In The Spider’s Web’ from TPB, a .LNK shortcut with CozyBear malware got to his computer.

However, the Cozy Bear malware is just a decoy, the real thing that brings damages is Powershell commands. Once the malware reaches the computer, it carries out malicious actions, like disabling Windows Defender and installing viral extensions in Firefox and Chrome browsers. Moreover, it edits the appearance of the website on the user’s computer.

The movie is an application itself which links the computer to the external malicious servers.

Source: Bleeping Computer

Moreover, the newly installed viral extensions can modify the JavaScript code and add some advertisements to the main page, like it is shown below.

Source: Bleeping Computer

What is the most dangerous is that the malware can edit the appearance of the web page and add or change the information without the user’s awareness, this ability allows the malware to steal the crypto. For example, if the user open Wikipedia page on a compromised system, he/she is likely to see the message saying “Wikipedia now accepts donations in form of bitcoin” and a ‘DONATE’ sign. All the donations will go to the hacker.

Source: Bleeping Computer

In addition, the malware is able to change crypto wallet addresses provided on the pages. Unfortunately, you will not even notice how the hacker stole your money.

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Cryptocurrency Prices Today, January 18: Cryptocurrencies Are Relatively Stable

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the Coingecko online platform, Bitcoin (BTC) added 1% over the past 24 hours. The price at the time of writing is $3611 per coin.

Cryptocurrencies are demonstrating both slight increase and decrease:

Bitcoin Cash added 0.61% over the past 24 hours and costs $129 per coin;

Ripple grew by 0.21% and costs $0.32;

EOS increased by 2.72%, and its price is $2.51;

Litecoin gained 1.1%, and its value is $31;

Cardano added 1.62%, and its cost is $0.046;

Stellar gained 2.44% and costs $0.10;

IOTA increased by 5.41%, and its cost is $0.31;

Dash grew by 2.21%, and its price $72;

Monero became more expensive by 0.35% and costs $45.

Over the past 24 hours, Ethereum added 0.66%. The rate of the coin is $123.

The total market capitalization is $122 billion. Bitcoin accounts for 52.4% of the total volume. In monetary terms, this is $64 billion.

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BitPay Transactions Surpasses $1B in 2018, B2B Payments Records 225% Increase

BitPay is a US-based bitcoin payment provider which has recently announced its financial results of the past year. The company has processed over $1 billion in transactions alone. Moreover, its B2B payments record 225% increase in compare to 2017.

The main reason of such a lift-off is that Bitpay added a lot of new clients, like Dish Networks, HackerOne, and the State of Ohio, as well as many other law firms, data center providers, and IT vendors.

The CEO of BitPay, Stephen Pair, commented on this development:

“BitPay’s B2B business continues to grow rapidly as our solution is cheaper and quicker than a bank wire from most regions of the world. To process over a $1 Billion for the second year in a row despite Bitcoin’s large price drop shows that Bitcoin is being used to solve real pain points around the world.”

BitPay mostly supports Bitcoin transactions, however, it also supports payments with Bitcoin Cash, Gemini, and Paxos. During that year a lot of companies had to lay off their employees due to the market situation, yet, Bitpay conversely increased its manpower by 78 percent in the past year.

In addition, BitPay is attractive to the investors, in 2018, it raised $40 million in Series B funding round taking the total raised capital to $70 million.

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Cryptocurrency Prices Today, January 17: Cryptocurrencies Are on the Border of the Red and Green Zones

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coingecko, Bitcoin (BTC) lost 0.8% over the past 24 hours. The price at the time of writing is $3582 per coin.

Some cryptocurrencies slightly decreased, others added in price a little:

Bitcoin Cash lost 2.6% over the past 24 hours and costs $126 per coin;

Ripple dropped by 1.1% and is $0.32 in rate;

EOS added 0.34%, and its price is $2.44;

Litecoin decreased by 2.66%, and its value is $30;

Cardano grew by 1.3%, and its cost is $0.044;

Stellar fell by 1.73% and costs $0.10;

IOTA lost 3.42%, and its value is $0.29;

Dash dropped by 0.52,% and its price is $71;

Monero became more expensive by 1.21% and costs $45.

Over the past 24 hours, Ethereum lost 2.17%. The exchange rate of the coin is $121.

The total market capitalization rose to $121 billion. Bitcoin accounts for 52.4% of the total volume. In monetary terms, it is $63 billion.

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Crypto Exchange Bittrex Partners With Bitsdaq To Conquer Asia Market

One of the biggest US-based cryptocurrency exchanges, Bittrex, announced that it was partnering with Bitsdaq to open a special trading platform in Asia. This platform will provide different digital assets to the Asian investors.

Moreover, Bitsdaq will operate on Bittrex technology and will be built based on Bittrex’s experience in the blockchain.The platform will allow users to trade various digital tokens, including tokens a available on the Bittrex exchange.

The Chairman and CEO of Bitsdaq, Ricky Ng, said:

“We are honored to bring Bittrex’s extensive cryptocurrency options to the Asia market.….It takes a unique combination of advanced technology and financial expertise to launch an efficient, reliable and secure platform for trading digital assets in Asia. We found the ideal partner to help provide a safe environment for our customers and the entire community.”

In accordance with the statement, the Bitsdaq platform will control a lot of things connected to the management of the platform, such as customer support, marketing, sales and customised development. In addition, it will take care of customer operations.

The day of the launch is yet to be announced, though customers can pre-register for an account on Bitsdaq’s website.

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Coingecko Publishes Its Annual Crypto Report for 2018

The online platform Coingecko published it crypto report for the passed year of 2018, where it analyzed the most important events in the crypto industry, including the market trends, crypto thefts, ICO news, stablecoins, Bitcoin Cash wars etc.

As for the market tendencies, there is no doubt that 2018 was the year of collapse. The total market capitalization decreased by whopping 78.85%, with the main period of decrease falling onto Q4. Meanwhile, the trading volumes remained quite stable.

Regarding the top-5 coins in the rating, they decreased as follows:

  • BTC – by 73%;
  • XRP – by 82%;
  • ETH – by 84%;
  • BCH – by 93%;
  • EOS – by 66%

The largest crypto exchange by the end of 2018, according to the trading volumes, turned out to be Bithumb, followed closely by ZB.com and Binance.

As for stealing cryptocurrency, the estimated money loss from criminals and scammers amounted to around $867.45 million. The biggest crypto theft was Zaif hack which took place in September and resulted in the theft of $23.5 million.

The most popular blockchain platforms for creating decentralized apps became Ethereum, EOS, Steem and Tron.

The synopsis of the stablecoin development in 2018 looks the following way:

Thus, we can definitely see that though 2018 was a hard year for crypto and there were much more downs than ups, the industry is still afloat and developing. Hopefully, 2019 will be a better year.

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