The Cutest Blockchain-Based Mobile App CryptoKitties Has Launched 761

cryptokitties htc

CryptoKitties is one of the first games on the market that operates on blockchain. Its principle is quite simple: you buy cats, breed them with other cats to get a perfect kitty and then sell them to other users. The idea is genius: the developers combined an innovative breakthrough technology and the thing that everybody adores – cats.

Although the game started out as a tremendous success and totally raised $12 million worth of investments, the hype around it reduced over time, and now CryptoKitties cannot boast of having many regular users.

The game creators decided to collaborate with the Taiwan producer of electronic devices HTC to come out with a mobile version of an app. The first phone to support CryptoKitties is going to be the latest HTC phone – U12+. The collaboration will see the world by the end of the year.

The HTC representatives stated that the game will be available in the United States, however, it still remains unclear whether the people from other countries will get an opportunity to play with digital cats.

Perhaps, this collaboration will give a second wind to the game, and it will regain its leading position in the rating.

We would like to remind you that another game on blockchain based on the famous Nintendo creation has recently been released to the market.

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Vitalik Buterin and Pavel Durov Entered the Rating of the Most Influential Young Entrepreneurs According to Fortune 311

crypto ranking

The famous American business magazine Fortune published a list of 40 Under 40, which gathered the most influential young people in business under the age of 40 years.

The founder of Ethereum Vitalik Buterin holds an honorable 22th line, American R&B- and pop singer Rihanna is ranked next to him, and the CEO of the well-known online cash platform Coinbase, Brian Armstrong.

Exactly one year ago, Buterin and Armstrong shared the 10th place in the list.

The publication noted that there are still rumours about Google trying to hire Buterin. He was supposed to help the corporation develop blockbuster projects, but he refused.

This year, the founder of Telegram Pavel Durov appeared on the Fortune list for the first time and took the 25th line. We would like to remind you that from January to March this year,  about 200 investors invested in ICO Telegram in the total amount of 1.7 billion dollars.

First place 40 Under 40 was shared by the head of Facebook Inc. Mark Zuckerberg and CEO of the social network Instagram Kevin Systrom.

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Did the Winklevoss Brothers Buy the Approval of Gemini Exchange? 575

Winklevoss Brothers

The cryptocurrency experts have recently noticed an interesting coincidence between the fact that the Winklevoss brothers sponsored the political campaign of a government official and the approval that was received by their cryptocurrency exchange Gemini immediately afterwards. Or is it not a coincidence?

As the New York Post reports, Cameron and Tyler Winklevoss have both recently sent $50k each in support of the campaign of Andrew Cuomo, an American politician.

This happened in late April. About 3 weeks later, the digital currency exchange Gemini got an official permission from the administration of New York to conduct cryptocurrency trading operations.

Moreover, after another month passed the brothers sent another $15k checks each to Cuomo, even though they have never supported this politician prior to April. Nobody can deny the fact that the situation is pretty strange.

Despite all the suspicions, the members of Cuomo’s campaign claim that the Winklevoss twins just see Andrew Cuomo as an effective politician with good potential.

According to the representative of Cuomo:

No contribution of any size influences any government action.”

We remind you that this spring the twins Winklewoss have launched Gemini Block Trading for large transactions.

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Coinbase Admits Being Wrong After Claiming that It Got an Approval from the SEC 707

coinbase lied about sec

The cryptocurrency giant Coinbase has recently bought the platform Earn.com, and it is not going to stop there. This time the exchange is planning to purchase three smaller companies to expand even further.

The businesses that will soon belong to the exchange are:

  • Digital Wealth LLC;
  • Keystone Capital Corp;
  • Venovate Marketplace Inc.

However, for some reason, the representatives of Coinbase decided that they need the consent of the Securities and Exchange Commission for such an action. They even did an interview with Bloomberg where it was mentioned that the SEC gave Coinbase “the green light”.

In reality it turned out that not only the Commission did not provide any approvals, the approval wasn’t needed at all. The representatives of the company hurried to address the issue:

It is not correct to say that the SEC and FINRA approved Coinbase’s purchase of Keystone because SEC was not involved in the approval process.

Although, the SEC is strictly watching over the cryptocurrency industry, in this case their services were not necessary. The spokesperson of the SEC stated that the plans for purchasing were discussed with Coinbase informally.

We would like to remind you that Coinbase has recently added new services to its growing list.

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Stellar Became the First Blockchain that Complied With the “Sharia Law” 1445

stellar received sharia license

As we mentioned in our article about the first authentic Arabic cryptocurrency (Dubaicoin), the countries of the Middle East were one of the last ones to consider such innovative technologies as blockchain and digital coins.

The thing is, that the citizens of these countries are muslim, which means that all spheres of their life are controlled by religion. All inventions are carefully examined and approved only if they comply with the so-called “Sharia law”.

Stellar which is a blockchain-based network payment platform was inspected by an agency specializing in providing official certificates for companies and projects that meet the “Sharia law” requirements. The agency found Stellar applicable for the certificate. The post about this appeared on the Twitter account of the platform.

According to the post on the official site of Stellar:

The Shariyah Review Bureau (SRB), a leading international Sharia advisory agency licensed by the Central Bank of Bahrain, has reviewed the properties and applications of Stellar and has promulgated guidance and guidelines that enable Sharia compliant applications of Stellar technology in Islamic financial institutions.

Stellar’s representatives view the certificate as an important step in the development and expansion of their platform, since now it is available for thousands of new customers from Islamic countries.

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What Is the Process of Tokenization or How Can Any Person Create His/Her Own Token? 1440

tokenization

In this article, we will consider such a concept as tokenization. We will learn how it is used by various companies and how the technology of blockchain is used here.

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

  1. The concept of “tokenization”
  2. The process of tokenization in the modern sense
  3. Tokenization in tandem with blockchain technology
  4. Conclusion

1. The concept of “tokenization”

Initially, tokenization technology was used to implement secure online payments. With its help, you can encrypt the data of real details and replace them with the generated hash code – a token. This is how the first concept of tokenization looked like, and the modern designation, which is now widespread in blockchain projects, has gone from there. Today the word “token” refers to a unit of an asset in a certain company.

2. The process of tokenization in the modern sense

Tokens can be compared to the labels that fill the desktop of each computer. Shortcuts are created in order not to litter drive “C” with heavy files, but at the same time to have quick access to them. Shortcuts are just the way to the program, folder, etc. If you delete a file where the shortcut leads, then the latter will not represent itself any more.

So, by analogy with the creation of shortcuts on the computer, in our time, the business is tokenized in various spheres of activity. Tokens can be created for anything (electricity, oil, gold, cattle, wheat, real estate, part of any enterprise’s funds, intellectual property, etc.). Tokenization works with both physical and virtual objects. This practice greatly simplifies and accelerates the mobility of assets, because you need logistics, a certain amount of documentation to move a real object, and the converting of the token is slightly more than nothing.

Tokenization of homogeneous objects is a fairly simple task. For example, one token is equal to 1 gram of gold, but it can be further divided into smaller parts. It is necessary to increase the liquidity of the asset. Tokenization problems arise if the items that need to be transferred to the digital space have different values ​​(real estate, art objects, etc.). In this case, this process becomes a little more complicated, since it requires the contribution of additional variables. Platforms that offer to tokenize heterogeneous objects already exist (Artex, Atlant, etc.), but each of them is confined to its own narrow niche.

3. Tokenization in tandem with blockchain technology

Probably, it seems strange, but in fact, the technology of blockchain is not mandatory to produce a tokenization of the project. Actually, anyone can make an issue of tokens, backing them up with any of their tangible or intangible property. To do this, you only need to run the platform, where you can transfer the rights to own the asset in the token.

Then why do the overwhelming majority of projects use blockchain technology for the tokenization of their own assets? It’s all due to the transparency that this technology provides. With its help, it is guaranteed that there is no third-party intervention in the data registry. ICO tokenization in tandem with blockchain eliminates the issue of confidence in the developers. Also, the undeniable advantage of using this technology is the absence of intermediaries between buyers and sellers of assets, which simplifies and significantly speeds up the exchange process.

4. Conclusion

The process of tokenization involves the transfer of tangible or intangible assets into the digital space (tokens). This significantly increases the liquidity and mobility of the asset. With the help of blockchain technology the process can be completely transparent and safe, and also you can remove any intermediaries from the chain.

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The Essence of the Blockchain Technology and Cryptocurrency 717

essence of blockchain and cryptocurrency

In the last couple of decades, technological progress has accelerated its full-scale expansion on pretty much all spheres of human life. Every year there appears something new that can change the world and make it a little easier and more efficient. One of such inventions is the technology of blockchain and the new payment system created on its basis – cryptocurrency. In this article, we will try to explain what the blockchain technology is and why cryptocurrencies will change the world in the next 5-10 years.

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

  1. The essence of the blockchain technology
  2. Cryptocurrency types and their difference from other payment systems
  3. How are coins extracted?
  4. Forecasts for the cryptocurrency market
  5. Conclusion

1. The essence of the blockchain technology

Blockchain is quite a young technology, the first application that was launched on its base was Bitcoin, thus, blockchain is often referred to as a purely transactional network. In fact, the practical application of this technology is unlimited. Now there are blockchain applications that work in the fields of logistics, medicine, law, trade, rent, etc.

In short, blockchain is a chain, which consists of a large number of blocks, where various information can be stored. Each subsequent block stores data about each previous one in an encrypted form. The uniqueness of the technology lies in the fact that the entire register of data is decentralized, and its copies are simultaneously stored on tens of thousands of computers around the world. This provides the highest level of protection from third-party interventions. The data stored in the system is almost impossible to compromise, replace or delete.

Let’s review an example of where you could introduce a blockchain system. In order to achieve full transparency in the presidential elections (parliament, senate, etc.), they can be held on blockchain. If the government of any country dares to take such a step, it will be possible to consider that these are the first 100% non-falsified elections in the history of mankind. The technological base is already there, the matter remains for the world leaders, but most likely they will not be quite happy about such prospects.

With the help of this technology, intermediaries can be removed from the chain of interaction between buyers and sellers of goods and services, which makes cooperation more profitable and effective. The technology of blockchain has a great future, many analysts compare its importance to humanity with the invention of the Internet. It will be able to fully reveal its potential in the third decade of the 21st century.

2. Cryptocurrency types and their difference from other payment systems

As it has already been mentioned above, cryptocurrencies became the first mass applications that were built on the basis of the blockchain technology. The first one was Bitcoin, but in almost 10 years since its creation, about 2500 different coins and tokens having different value and performing different functions have been released. Some coins are designed purely for making payments, others can act as the domestic currency of a certain application, the third are able to guarantee dividends from developers for their holders. Types of coins are too numerous, you can read more about them in our article.

The main difference between cryptocurrency and traditional payment services is their decentralization. That is, coins do not have a specific center that can monitor the network. All participants of the system interact on the principle of equality, where each member of the community acts as a user and as a server at the same time.

Advantages over traditional payment systems:

  • Significant reduction of the commission and time of international transfers due to the absence of intermediaries. For example, a transcontinental payment for $99 million was recently made in the Litecoin network, the commission was only 40 cents, and the transaction took 10 minutes. Within the traditional payment systems, this would require 7-10 working days, and commission fees would be at least $100k.
  • Anonymity. Digital technologies both give us freedom and take it from us. Using a MasterCard or Visa, a person stops being anonymous. If you want, you can track the entire history of his/her purchases, his/her location, etc. Some cryptocurrencies guarantee total anonymity.
  • Absence of outside intervention. Any bank can freeze its client’s funds if it sees it fit. Since cryptocurrencies do not have a single center, such intervention in the work of individual wallets is almost impossible. Of course, it all depends on the type of wallet. For example, you can freeze your account at the exchange, but if the coins are on a hardware cold wallet, no one else has access to it, except its owner.

3. How are coins extracted?

Bitcoin is often compared with precious metals, in particular gold, because they have a number of similar characteristics:

  • limited amount (a total of 21 million BTC will be released);
  • the need for extraction (mining) and the gradual increase in the complexity of this process.

Some coins (such as Bitcoin, Ethereum, Litecoin, etc.) need to be mined. Let’s discuss what kind of process it is and how it works. So, coins are awarded to the miners who installed a certain amount of computer equipment and provided it for the system’s operation. You can obtain cryptocurrency in a variety of ways, even using a PC, but you should not wait for any serious earnings in this case. Miners often use more powerful hardware, such as video cards or ASICs. The computing power of miners ensures the operation of the system and the timely conduct of transactions.

4. Forecasts for the cryptocurrency market

It is worth noting that the market is now in a phase of deep correction in comparison with its peak values, which were observed in the January this year. But even if you look at the annual chart, you can see that the assets are showing good growth (about 250%). According to the two-year chart, the growth rate of capitalization is 21760%, and so on. So do not panic like most of the media. The fact is that there are many people who invested in late November-December 2017. Their outrage is justified, they lost 70-80% of their contributions, but it is unfair to make a conclusion from this that the cryptocurrency industry is collapsing.

Many analysts predict growth for this year by 20-30 times of today’s value. In general, analyzing the cryptocurrency market is a rather difficult task, and nobody can say for sure what rate will be at the end of the year. Let’s just say, there are no fundamental reasons for the collapse. As soon as the news background improves, the market should start to grow and possibly even reach new historical highs.

5. Conclusion

Many people interpret the technology of blockchain as a transactional-only network, but this is not true. The application spheres of this technology are numerous. Cryptocurrency is only the tip of the iceberg. Analysts predict the widespread introduction of decentralized applications in the 2020s.

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