Binance Announces Decentralized Exchange, Bounty On Hacker

Submitted by Seth Goldfarb on Wed, 03/14/2018 - 17:15
Binance Announces Decentralized Exchange, Bounty On Hacker

Binance, one of the world’s largest digital asset exchanges by trading volume, will be launching a decentralized exchange called Binance Chain. In their announcement, the company expressed their belief that the future will have a place for both centralized and decentralized exchanges and their intention to improve the trading experience for users of decentralized exchanged. Binance Coin (BNB), the native token on the Binance platform offering discounted trading fees, will be transferred to its own blockchain and incorporated for use on Binance Chain in addition to Binance.

The exchange also announced a bounty of $250,000 for information leading to the lawful arrest of the individual or individuals responsible for the hack that disrupted trading on March 7th. A phishing scheme allowed the hackers to collect login information from unsuspecting victims who saw their accounts drained to purchase VIA/BTC while other accounts created by the attackers sold pre-purchased VIA/BTC at the top of the market. Binance’s risk management system caught the irregular trades and temporarily closed withdrawals on the platform. Engineers then successfully managed to reverse the illicit trades, returning funds to users while keeping the funds pre-purchased by the hackers.


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What is Nexus (NXS)? | Beginner’s Guide

Submitted by Seth Goldfarb on Fri, 03/02/2018 - 10:45
What is Nexus (NXS)? | Beginner’s Guide

This article was originally published on CoinCentral

What is Nexus?

Nexus is a peer-to-peer network that improves on the speed, scalability, security, and accessibility of current blockchain protocols. The project mainly accomplishes this through the use of a quantum-resistant 3D blockchain in combination with communication satellites in space. With this, Nexus founder Colin Cantrell is aiming to “decentralize the decentralization”, by taking it out of reach of any government control or mining pool monopolies.

Hold on to your hats, folks. This is one of the more ambitious projects out there, so let’s get right into it.

In this Nexus guide, we’re going to go over:

Three Dimensional Chain (3DC)

Nexus uses, not one, not two, but three consensus mechanisms to form a three-dimensional blockchain. The team argues that having three different mechanisms in place reduces miner centralization and enables more efficient on-chain scaling.

Prime Channel

The Prime Channel is a Proof-of-Work channel. In this channel, miners search for 308-digit dense prime clusters through trial-and-error. Dense prime cluster mining is more ASIC-resistant than traditional hash mining. Therefore, even if you have just a CPU, you can mine on this channel.

Outside of cryptocurrency, the mining on the Prime Channel produces data that can be further used in prime number research for quantum physics.

Hashing Channel

The Hashing Channel is also Proof-of-Work but uses Hashcash instead of dense prime clusters. This is similar to Bitcoin’s mining algorithm except that miners search for SHA-3 (with Skein) hashes while Bitcoin miners find SHA-256 ones. The Nexus block hashes are 4x the size of Bitcoin block hashes.

You should use a GPU when mining on this channel.


The third and final channel uses Proof-of-Holdings to secure the network. This is essentially the same as the Proof-of-Stake consensus method used by coins like NEO. You earn newly minted Nexus coins (NXS) just by holding the ones you already have.

Four attributes determine what your return will be when you stake your coins:

  • Interest Rate – An annual percentage of your balance, this is the rate at which you receive new coins. This starts at 0.5% annually and increases to a 3.0% annual maximum after 12 months.
  • Trust Weight – This is an indicator of your node’s trust. It starts at 5% but quickly reaches its 100% maximum after just one month.
  • Block Weight – This attribute resets to 0% each time you receive a staking transaction. It then slowly climbs to 100% over 24-hours. If your block weight ever reaches 100%, your Trust Key expires and all your attributes reset. The reset trigger ensures that you’re continually working to maintain the network.
  • Stake Weight – The value of this is roughly determined by the average of your trust weight and block weight. The higher this is, the more likely you are to receive a transaction.

Nexus Hardware

Nexus has a three-pronged distributed telecommunications system to further decentralize the network.

Mesh Networks

Because the network provides three distinct mining opportunities, almost anyone around the world can run a node and participate in network security. All nodes in a mesh network work together to solve a block rather than compete against each other. This serves to distribute network data more so than other systems.

To take things further, Nexus may produce specialized antennas for you to purchase to operate locally based networks as well.

Cube Satellites

Nexus has partnered with Vector Space Systems (Vector) to create a Low Earth Orbit (LEO) Satellite Network of nodes. The satellites, in combination with the ground mesh network, will host the Nexus network as well as any decentralized apps (dapps) built on top of it. Even more outstanding, the satellite network will provide a worldwide decentralized Internet giving service to those previously unable to access their own.

Ground Stations

The Nexus ground stations connect the mesh networks on the ground to the satellite network in space. They run the uplink/downlink operations including address endpoint route defining and ground-based caching. They also run their own instance of Daemon, the software component of the Nexus system.

Nexus Coin (NXS)

The Nexus coin (NXS) is the currency of the network. There’s no cap on the amount of NXS that will be minted. Instead, the coin has a 10-year distribution period in which 78 million NXS will be distributed until September 23rd, 2024. After this time, the supply will inflate each year by a maximum of 3% through the holding channel and 1% through the prime and hashing channels.

Nodes create blocks, on average, every 50 seconds, and an NXS transaction requires 6 confirmations. Currently, most transactions cost 0.01 NXS. However, once the 3DC is built and 10-year distribution is complete, transaction fees will disappear. Instead, the system will absorb the fees through inflation.

Nexus didn’t hold an ICO. Instead, the project has a Developer Fund that takes a small commission from mining rewards. This commission starts at 1.5% and increases to 2.5% over 10 years. Additionally, 20% of the block rewards are slotted for marketing as well as the production and launch of the Nexus satellite network.

Nexus Team & Progress

Colin Cantrell, also known as Videlicet, is the founder and lead developer of Nexus. He first named the project Coinshield (CSD) when starting in September 2014. The original code only contained the prime channel; the team added the hash channel in October 2014. In April 2015, the team rebranded to Nexus, and they added Proof-of-Holdings in July 2015.

Besides partnering with Vector on the satellite network, Nexus has also joined forces with SingularityNET to provide their 3DC architecture to the project’s decentralized AI network.

Moving forward, Nexus is releasing major updates following their TAO (Tritium, Amine, Obsidian) roadmap strategy. The releases include the 3DC, mobile wallets, quantum resistance, and the satellite network, among many other things.

Nexus is one the most ambitious, if not the most ambitious, projects in the cryptocurrency space. First and foremost, the project is attempting to dethrone Bitcoin as the top peer-to-peer currency. With the decentralized internet produced from its space mesh network of satellites, Nexus is also competing with Substratum.


Like most of the crypto market, Nexus was relatively quiet until 2017. During that year, the price rose from $0.026 (~0.000027 BTC) to $3.34 (~0.00087 BTC) by September. Shortly after, the price fell back down to about $1 before skyrocketing up to an all-time high of $13.33 (~0.0008 BTC) in January 2018.

This significant rise in price can most likely be attributed to the Vector partnership announcement in combination with the success of the entire market at that time. Since then, the price has drastically fallen, sitting at $1.75 (~0.00018 BTC) at the time of this writing. News of the SingularityNET partnership seems to have had no effect on the price.

The team hasn’t published a roadmap with exact dates, so it’s hard to make any price predictions for the immediate future. As with most cryptocurrency projects, though, important development releases should have a positive impact on the price. With the scope of this project, you should probably consider it a long-term hold.

Where to Buy NXS

You can purchase NXS on either Bittrex or Upbit with BTC. If you don’t currently own any BTC, check out our guide on how to buy some.

As mentioned early, you can also earn NXS through mining. Check out the Nexus mining page to download the miner that fits best with your strategy. As a reminder, you should mine with the Prime Channel if you’re using a normal CPU, and you should check out the Hashing Channel if you plan to use a dedicated mining rig like an ASIC.

Once you hold at least 1,000 NXS, you can stake to earn additional coins.   

Where to Store NXS

Nexus has an official wallet for Windows, Mac, and Linux desktops. Although you can keep your NXS on an exchange it’s highly recommended that you move them to a wallet. You’re only able to stake your coins if they’re in a Nexus wallet.


Nexus is building a new type of blockchain with three separate mechanisms for securing the network. On top of that, the team is sending node satellites into space to create a decentralized Internet and network outside the control of any one entity. The overall mission is to create an improved Bitcoin with faster transactions, lower fees, and less miner centralization.

Nexus is one of the few projects truly addressing quantum resistance and other potential future issues. If these problems become as large as the team believes they will, and they can accomplish their lofty mission, Nexus may just be one of the few projects still in action 20 years down the road.

Additional Nexus Resources








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DeHedge: Hedging Products for Cryptocurrency Investments

Submitted by Seth Goldfarb on Wed, 02/07/2018 - 04:16
DeHedge: Hedging Products for Cryptocurrency Investments

As demonstrated by the recent market correction in both cryptocurrency and stock markets, hedging your bets should be considered a critical part in the development of a sturdy portfolio. DeHedge wants to make hedging investments in digital assets easier with a platform offering tools that allow users to hedge against various events ranging from dips in the spot price to hacked or cancelled ICO’s. Investors will be able to purchase hedging coverage using the DeHedge token, which will also be used to raise the funds to serve as collateral for the products offered by DeHedge.

    DeHedge uses their own scoring model incorporating data analytics to determine the amount of tokens required to purchase hedging coverage. The ICO hedging platform has been under development with release planned for March, 2018. Hedging products available to investors will include ICO cancellation, fluctuations in the spot price of tokens, wallet or ICO hacks, and volatility affecting mining and mining farms. Cofounded by CEO Mikhail Chernov, CCO Bogdan Leonov, and COO Dmitry Ansimov, the DeHedge, advisors to the project include wealth fund manager Jack Hunter, Senior Editor of Irish Tech News FinTech Specialist Simon Cocking, and Taras Yakovenko, a Risk and Business Management professional with over fifteen years of experience. 

The DeHedge ICO has been scheduled for March, 2018 but a specific date has not been set. Eighty percent of the tokens will be reserved as collateral for hedging products with fifteen percent going to the team and, two percent each for the bounty program and advisors and one percent for marketing. Of the amount allocated to the hedging reserve, eighty percent will be reinvested in cryptocurrency assets while the remaining twenty percent will be held for unplanned payouts. 
    Reinvesting eighty percent of the assets allocated to the hedging reserve in cryptocurrencies could expose DeHedge to a significant degree of risk but the availability of financial instruments like hedging products also helps decrease the volatility of digital asset markets. A number of projects in the cryptocurrency space aim to offer derivatives or other financial instruments of interest to traders but hedging products represent a relatively unexplored niche. No matter what the markets do for the rest of the year, demand for these products that allow investors to hedge will not be likely to go away. To learn more about DeHedge please visit their website at https://dehedge.com/


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ECOS: A Blockchain Solution for Quality Control in the Food Industry

Submitted by Seth Goldfarb on Sun, 02/04/2018 - 21:48
ECOS: A Blockchain Solution for Quality Control in the Food Industry

Counterfeit food products cost the industry an estimated $10-$15 billion a year, a prevalent issue in China and one that can cause serious illness to unwitting consumers. ECOS offers a solution with a platform enabling developers to create decentralized software for inspection and quality control in the food industry. The company will launch the ECOS token to give developers an incentive to create useful software and allow users to purchase services on the platform. Consumers will be able to use the software to verify the source and authenticity of food products and access valuable information about them.

Founded in February, 2017 by CEO Aleksei Zeleznyak, the ECOS team includes Chief Analytics Officer Nataly Zeleznyak and Chief Web Officer Egor Sporykhin with Cryptor, Trent Projekt, Advendor, Grand Holding, Inpointed, and Hansa Law as notable partners. Not much information about team members’ previous experience could be located but Cryptor Trust offers capital to blockchain startups, Avendor offers cost per action (CPA) advertising, Grand Holding is a corporation based in Armenia, and Hansa Law operates out of Lithuania, Latvia, and Estonia. Potential investors should be wary of the general lack of information regarding the team members and companies associated with ECOS.

The ECOS roadmap, on the other hand, appears optimistically conservative, dedicating much of 2018 to technical and market research and development as opposed to rushing out a beta release for the public. The ECOS’ ICO presale begins on February 14, 2018 with the main sale scheduled from May 15 to June 15, 2018. ECOS tokens will cost $0.10 during the presale and sale with bonuses for early purchases and a cap of $77 million. Ten percent of tokens will be available in the presale, fifty percent in the main sale, and the rest will go toward bonuses, a bounty campaign, and early supporters. Please visit http://www.ecos.ee/en/ to learn more about ECOS, participate in their bounty campaign, and register for their upcoming ICO.


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Five Projects For Merchants Excited About Cryptocurrency

Submitted by Seth Goldfarb on Wed, 01/31/2018 - 17:22
Five Projects For Merchants Excited About Cryptocurrency

Incredible growth in the market for digital assets this past year has more and more retailers wondering how to cash in on the hype. Whether taking payments in digital currencies or promoting sales through tokenized marketplaces, retailers have an increasing variety of blockchain-powered options at their disposal. From loyalty or reward programs and tools discouraging fraud and theft to payment processing services and merchant networking, here are five projects offering unique, effective blockchain solutions for merchants:

  1. Rewards

Rewards aims to bring cryptocurrency to the masses with a tokenized loyalty program allowing users to gain Reward points (RWRD) that can be used to purchase items from their network of marketplaces. Rewards.com boasts over 250,000 users earning commissions and receiving discounts and won the startup competition at the CoinAgenda Global Investors Conference in 2017. The Rewards ICO aims to raise a minimum of $1.5 million to support the launch of The Rewards Global Marketplace in the first quarter of 2018. Cofounded by CEO Todd Rowan and Linda Butcher, the platform will provide users with discounted goods while increasing traffic for affiliated merchants.


  1. CryptoTrust.Network

CryptoTrust Network tackles the fraud and theft that deter many retailers and consumers from using digital currencies by providing security tools for merchants, exchanges, and card-issuers. The suite will include tools for wallet and identity verification, tracking stolen currency, and generating risk ratings for transactions. Cofounded by CEO Jim Dowling and CTO Will Finlayson, the CryptoTrust Network ICO is currently open and running through February 22, 2018. The CTN token will be used to pay for data and services on the platform, fund development of the tools, and reward node operators and data suppliers.


  1. Setcoin

Service Exchange Token (SET) or Setcoin is a digital asset issued by Inserviss for payments on the Inserviss Platform, an online marketplace connecting service providers with customers. The platform allows service providers to list, promote, and manage their services and offers consumers location-based searches, reviews, and payment processing. Cofounded by CEO Igor Perepelychnyy and CCO Elena Perepelychnyy, the Setcoin presale is currently underway on the WAVES decentralized exchange and the ICO begins on February 1, 2018.


  1. Asset Token

Asset Token is developing a digital asset providing credit card rewards that can be transferred between reward programs. The token will be hosted on the Ethereum blockchain and allow users to generate Asset Tokens that can be redeemed through participating rewards point programs using digital wallets with incorporated KYC/AML information. The team includes Digital Asset Manager Todd Nichols, Senior Strategic Analyst Paul J. Gerstenberger, and Technical Advisor Dennis Lyon with LDJ Capital Cofounder and CEO David Drake, Emergent Technology CTO Sally Eaves, and Simon Cocking as advisors to the project.


  1. Glance Pay

Glance Pay offers a mobile payment application allowing consumers to quickly pay for purchases with a mobile device while generating discounts via their loyalty rewards program. The app charges no extra fees and enables users to split, pay, and add tips to bills by scanning the bill and deducting funds from any major credit card. Users have access to digital receipts and new users currently have the opportunity to receive $5 off their first two purchases using the app. Merchants partnered with Glance Pay receive funds from customers directly in their bank account the following business day with transaction fees automatically deducted.



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CryptoProperties (CPROP) ICO: A Workflow Management Platform for Real Estate Investments

Submitted by Seth Goldfarb on Wed, 01/17/2018 - 15:41
CryptoProperties (CPROP) ICO: A Workflow Management Platform for Real Estate Investments

CryptoProperties (CPROP) offers a workflow management platform to help users close real estate deals. In addition to creating more efficient transactions, the software also allows users to pay for deals with cryptocurrency. The project aims to increase standardization, automation, and validation of the data necessary to complete real estate transactions. CPROP tokens will enable real estate agents and service providers to acquire tokens in exchange for a membership fee, allowing them to list their services on CPROP. When buyers complete a transaction they can earn CPROP tokens by providing a review of their agent or service provider and have the option of receiving extra CPROP tokens for allowing CPROP to manage their property.

Founded by Sanus Connect Co-founder Luke Sestito,1 DotLoop Co-founder Adam Koehler,2 and Co-founder of Sanus Connect and the Asia West Environment Fund Sanford Selman,3 CPROP appears to have a strong team of real estate professionals behind it. Advisors include the Peercoin project, head of DotLoop marketing strategy Alex Allison, and Co-founder/CEO of The Crypto Realty Group Piper Moretti. Peercoin has been working on blockchain-agnostic protocols facilitating peer-to-peer transactions that could be of significant help to CPROP in facilitating more efficient real estate transactions.

An ICO date has not been announced at time of writing but includes a presale cap of $10 million and a total cap of $35 million, reflecting a more realistic sense of valuation than some other ICO's. Token allocation will include 80% for members, 15% to the team and founders, and 5% for translations, bounties, and consultants. To learn more about CPROP, please visit their website at https://cprop.io/.





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Cappasity: An AR/VR Content Ecosystem

Submitted by Seth Goldfarb on Mon, 01/08/2018 - 15:33
Cappasity: An AR/VR Content Ecosystem

Cappasity is introducing a platform for the Augmented Reality/Virtual Reality (AR/VR) industry allowing users to create, sell, and rent 3D content. The project aims to enable trustless, decentralized rights management and copyright exchange. Its native token, the CAPP, works as the primary method for payment settlement in the Cappasity ecosystem and can be found on Cryptopia.

Founded in 2013 by CEO Kosta Popov,1 CTO Alex Chegaev, and CBDO Marianna Alshina,2 the platform launched in 2017 and began accepting CAPP tokens for services in December. Cappasity released free digitizing 3D digitizing software in 2016 and plans to offer 3D avatar scanners in Q3 and 3D capturing of real estate in Q4 of 2018, free of charge.

The platform has raised $1.85 million from angel investors and currently boasts over 17,000 users. Phase one of their ICO closed with 295 million CAPP tokens sold and phase two begins on March 22, 2018 and will end in twenty-eight days unless the hard cap of $50 million is reached. Minimum contribution is $35 and bonuses will be given for early and/or sizeable contributions.

To learn more about Cappasity, please visit their website at https://artoken.io/.





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