Blockchain Consultants

Blockchain Transformations Done Here

mobile app

Where to buy Gold-Backed Cryptocurrencies in 2021

by

If you want to get involved in the gold-backed cryptocurrency space, you’re probably debating on where the best place to buy them is. Fortunately, we’ve got you covered. In this guide, we’ll go over the best places to buy such assets.

Gold Backed Crypto Exchange

A gold-backed crypto exchange is pretty much the best place to invest in such assets. For one, these are the platforms that generate stablecoins. They offer the most value for your investment, often providing quality-of-life trading features and wallets for storage. Some also enable you to invest anonymously.

Not only this, but these exchanges often allow you to redeem your digital gold for physical bullion. Of course, you may have to reveal your identity for this, so they can provide it to the right person.

Such platforms generally audit their holdings and make the results publicly available for trust’s sake. Some are even available 24/7 for the ultimate ability to check their legitimacy.

Specific exchanges allow you to invest in fractional amounts of gold, too, increasing the asset’s accessibility. You can put in as little or as much as you’d like – an option not possible on traditional exchanges.

Binance

Binance is the largest cryptocurrency exchange in the world regarding market cap. It offers support for thousands of cryptocurrencies, many of which being gold-backed stablecoins.

On Binance, you can fund your account with a bank or other crypto and convert nearly any asset into a stablecoin. It’s all up to you, assuming the asset is listed. The platform offers various trading features as well, making it ideal for both beginner and expert traders.

If you’re a big investor, you can earn BNB, the platform’s stablecoin, which helps cover some trading fees. Saving you money, a dedicated stablecoin works wonders for many traders.

If you’re interested in branching off from stablecoins, Binance has tons of detailed documentation on the crypto industry for you to consume. Finally, this exchange has a wallet for you to store your assets within as well. While Binance isn’t a dedicated gold-backed cryptocurrency exchange, it’s definitely a decent alternative.

Coinbase

Based in San Francisco, Coinbase is a popular mainstream cryptocurrency exchange. Because of this, it’s much more selective in its offerings. Still, the underlying support makes it a great space to buy gold backed cryptocurrencies.

Like Binance, Coinbase has a wallet for online storage. It also contains a ton of documentation for learning about stablecoins and other crypto industry staples. If you live in the UK, there’s even a physical debit card, Coinbase Card, for spending on the go.

Beginner traders have more than enough features to make an educated purchase. However, if you’ve been in the space for a while, Coinbase has a pro exchange with more information than Binance. Just note that Coinbase has more expensive trading fees than most other exchanges. It’s a reliable platform, however, which is what you’re paying for.

Gemini

Gemini is a cryptocurrency exchange founded by the Winklevoss Twins of Facebook fame. The project is regulated by the New York Department of Financial Services. It’s often undergoing bank exams and audits as well. These regulations make it a great platform for trading gold-backed cryptocurrencies.

They’re the first crypto platform to hold the SOC 1 Type 2 and SOC 2 Type 2 compliance certificates as well. Gemini even offers hardware keys and insurance coverage for all assets stored on the platform.

Gemini offers various products such as its mobile app, a custody platform, an earn space, and even its own stablecoin. That stablecoin, the Gemini Dollar, is tied to the value of USD. It can be used to trade with gold-backed stablecoins, among other assets, similar to Binance’s BNB asset.

Otherwise, signing up on Gemini is relatively easy, though it does require you to verify your identity, among other things. If you’re looking for anonymity, this isn’t the platform for you. It does list a fair amount of gold-backed cryptocurrencies, however.

Finally, just like Binance and Coinbase, Gemini has its own offering of learning documents to educate yourself further on the cryptocurrency industry.

Where to buy Gold-Backed Cryptocurrencies in 2021

Source

MyEtherWallet Opens the Door to Access More Than 2,000 Ethereum-Based dApps Within MEW App

by

MyEtherWallet Opens the Door to Access More Than 2,000 Ethereum-Based dApps Within MEW App

According to the latest announcement, MyEtherWallet, also known as MEW, is now providing access to the entire suite of Ethereum DApps within their MEW app.

It was reported that Ethereum wallet and its interface MyEtherWallet, has brought dApps to its 1.3 million monthly users. This is done by offering and adding a new “DApps Browser” feature in the MEW smartphone app.

As DappRadar partners With MyEtherWallet, their collaboration opens the door for MEW users, putting Dapps in the hands of millions of users. MEW users can now access more than 2,000 Ethereum based decentralized applications, including DeFi and NFT based protocols, directly from their smartphone.

Founded in 2015, MEW is a free, easy-to-use, client-side interface that helps users to interact with the Ethereum Blockchain. It is a fully-fledged mobile app, bringing Ethereum to iOS and Android device users.

DApps Browser to Bring Significant Opportunities

With the new ‘DApps Browser’ feature in the MEW mobile app, users’ can browse, search and interact with DeDApps, including UniSwap, SushiSwap, and others, to access various financial services. 

Moreover, users can browse and search for specific dApps and can also access other decentralized wallet apps such as Status and Trust Wallet. DappRadar reports that in terms of daily active wallets, the blockchain accounts for 30% or 72,000 unique active wallets daily.

It is also expected that iOS users will be able to view rankings and metrics such as daily, weekly, and monthly active users, total value locked, and trading volumes for 2000 DApps that are generally visible via web browsers within the MEW app. 

As MEW is keen to introduce a world of applications and services to its customers, the report also mentions that the new features also enable users to access the growing non-fungible token.

MEW’s Founder and CEO Kosala Hemachandra expressed his views stating that
“Our dedication to bringing DApps to all of our users, no matter how they choose to access them, reflects our belief that wallets can, and should, become the hub where the entire Ethereum DApp ecosystem comes together.”

As DappRadar partners with MyEtherWallet, users can now see how a project is performing on DappRadar. Moreover, users can also track and identify new projects that may arise interest and present opportunities. 

To get instant updates about Blockchain Technology and to learn more about online blockchain certifications, check out Blockchain Council.

MyEtherWallet Opens the Door to Access More Than 2,000 Ethereum-Based dApps Within MEW App

Source

Crypto Lending Platform Celsius Now Holds More Than $5.3 Billion

by

Cryptocurrency rewards-earning platform Celsius Network announced that it now holds over $5.3 billion worth of crypto assets. The news is coming months after Chainanalysis announced that it has validated $3.3 billion in total assets held by Celsius.

With this recent evaluation, Celsius has become the second-largest digital asset manager in the world, behind Grayscale Investments. Celsius has continued to grow in asset management since last year, as the crypto asset manager has gained a considerable level of exposure and asset under management.

Since November last year when Chainanalysis made the confirmation, the company has added more than 125,000 new users, which now makes it over 340,000 total active users.

Other impressive milestones

Celsius has crossed other impressive milestones as the company prepares to gain more market share this year.

The firm now has more than 55,000 BTC held under management and more than $200 million as token rewards to the Celsius community, Besides, the platform has 45 different coins and tokens supported and earning yield. Also, the firm’s native CEL token has grown significantly, as it has hit an all-time high of $6.1, making it on the top 40 list of Coinmarketcap.

Celsius enables thousands of users and consumers to gain financial impendence through investments in digital currencies. It offers instant low-cost digital asset loans that are accessible through a mobile app or via the web.

It is designed on the principle that financial services should only operate for the best interest of the community and the customers. Membership in the fee-free platform offers access to curated financial services that are unavailable in traditional financial institutions. The company was established in 2017. It started offering a decentralized trading platform that enables customers to earn up to 10 percent of their crypto shares. It also enables Ethereum holders to earn about 9 percent from their investments.

In May 2018, the company raised about $50 million through an initial coin offering. The startup lends its assets to retail investors, investment funds, and miners on a collateralized basis.

The company said 80 percent of the returns are passed on to holders.

Crypto Lending Platform Celsius Now Holds More Than $5.3 Billion

Source

Dock’s Capabilities and its Mainnet Launch: A Quick Guide

by

In this article, we will talk about Dock and its capabilities, focusing on its mainnet launch. Curious? So let’s get started!

Table of Contents

  • What is Dock?
  • How can Dock be Utilized?
  • Dock’s Mainnet Launch 
  • Concluding Lines 

What is Dock?

Dock is a remote company with a globally dispersed team that aims at creating a better future world driven by safe, independently owned verifiable credentials by leveraging distributed ledger technology, blockchain. It provides a wide range of tools that enables Blockchain developers, organizations, and businesses to create verifiable credentials. It can also be defined as a one-stop-shop solution for creating decentralized identities and helps in creating and managing credentials.

The majority of organizations currently depend on centralized structures that are easy to construct. This particular verifiable platform was founded in 2017 to enable every entity to create verifiable credentials on a decentralized network that are secured cryptographically.

Want to know all the ins and outs of Blockchain Technology and become a Certified Blockchain Developer? Wait no more! Get enrolled in Blockchain Council now!

How can Dock be Utilized?

Before understanding how Dock can be implemented across various domains, let’s explore the unique features it offers. 

Interoperability: This platform offers interoperability and hence works seamlessly across numerous platforms. It incorporates standards from the World Wide Web Consortium (W3C) and VCDM to ensure interoperability across many platforms and applications.

Tamper-Proof: Dock use of cryptography for encryption and digital signatures, which ensures that data stored on the blockchain is clear, tamper-proof, and cannot be changed.

Simplicity: Dock is known for its simplicity as it offers a flawless solution to build, manage, and present credentials.

Let’s now talk about the various use cases of this platform. 

Supply Chain 

Dock networks can prove to be beneficial for all businesses and government authorities for ensuring a legal and compliant supply chain management in terms of genuine products and safe deliveries. Not only this, it helps in leading to significant savings in administrative costs and improved profitability. The Dock Network can reconstruct the entire process of the supply chain by providing cryptographically verifiable credentials that are impossible to imitate.

Healthcare

Verifiable with Dock has built an ecosystem that allows issuers to build digital verifiable credentials and a mobile app for real-time storage, sharing, and immediate verification by individuals. Initially, to develop their credentialing solution, Verifiable began working with existing standard Blockcerts coupled with the Ethereum blockchain. But later, it collaborated with Dock, which provides a simplified toolkit, advanced functionality, and even greater scalability and fee control. Verifiable with Dock aims at streamlining the healthcare credential verification and monitoring process.

Workforce 

We all know the hiring process is cumbersome. Dock network can streamline the entire hiring mechanism by providing cryptographically verifiable credentials, thus easing the task for one and all. It allows employers, organizations, etc. to have DIDs on the blockchain network and revoke credentials that reflect the candidates’ skills. Such credentials can then be verified quickly and accurately, unlike manual processes that are time-consuming and not tamper-resistant. Moreover, by utilizing Dock network, we can expect that end results will lead to enormous savings in administrative costs and, most importantly, increased trust in the talent pool due to variable credentials. 

Dock’s Mainnet Launch 

The Dock is an open-source, decentralized network for issuing verifiable credentials such as identity documents, licenses, educational degrees & training certificates, diplomas, etc. With underlying technology, blockchain technology, it enables Blockchain developers to build groundbreaking applications. 

Dock, which seeks to solve the complicated issues that the credential industry faces, has announced the launch of its blockchain mainnet. Built explicitly for verifiable credentials, the mainnet will enable issuers to create their own DIDs to authenticate their credentials. Moreover, it also enables recipients to control and retain ownership of their credentials as well. This network seeks to ensure that transaction costs are minimal by providing a special-purpose blockchain, and there is no effect from unrelated operations, unlike many public blockchains. 

The launch of Dock’s mainnet represents the achievement of another critical milestone in the roadmap of the company. In the upcoming months, the team plans to begin a token migration from its current ERC20 token system to a native token running on the new Dock Mainnet. Moreover, the network will integrate decentralized network governance and will also enable the Dock network to be self-sustaining.

Concluding Lines

Data faces various problems of inefficiencies, incompatibilities, and inaccuracies. By leveraging Dock’s blockchain technology, organizations and institutions can issue digital credentials that are cryptographically secure and verifiable globally. In order to promote its mass adoption, Dock incorporates credentialing standards from the World Wide Web Consortium (W3C), which ensures that data is captured in such a way that it is optimized for securing and sharing the data across the internet. As the Dock team has been working swiftly, the team has also established the Dock Association to oversee the entire network’s development and promotion. 

To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council.  

Dock’s Capabilities and its Mainnet Launch: A Quick Guide

Source

Ontology- A Decentralized Identity Framework and its Wide Applications

by

Curious to understand what Ontology platform is? Why is it under the limelight for long? How can it transform the automotive industry? So let’s get started. 

Table of Contents 

  • Overview of Ontology
  • Ontology: An Expanding Network
  • Its Latest Decentralized Identity Solution
  • Ontology to Build Trust in the Automotive Industry
  • The Verdict 

Overview of Ontology

Ontology is a high performance, open-source blockchain that lets individuals and businesses to enjoy the full benefits of blockchain. 

Blockchain is a P2P distributed ledger technology that offers decentralization, immutability, transparency, and security without dependence on a central authority or third-parties. 

Ontology, a decentralized blockchain-based framework, aims at solving the issues associated with identity security and data integrity. It aims at providing cross-chain collaboration and layer-2 scalability while still retaining control of their sensitive data, thus offering flexibility to businesses to a great extent. Instead of forcing organizations and businesses to use a single public blockchain, a platform allows businesses with greater flexibility in designing a blockchain that works for them. It has its own native cryptocurrency, Ontology Coin(ONT) 

As Ontology continues to introduce new and unique features for its users, it remains under the limelight for a long time. 

To know more about blockchain technology and become a Certified Blockchain Expert, sign up to the Blockchain Council now!

Ontology: An Expanding Network

Ontology is an expanding network that allows developers to build on top of its blockchain. Ontology offers various features, including ONT ID, a mobile digital ID application, and DID.

Unlike traditional systems, ONT ID is a single sign-on approach that offers a compelling alternative to the “antiquated” landscape and uses cryptography algorithms to identify and connect identities and assets without breaching security.

As it plans to cater to increased demand for cross-chain interoperability, the company is cultivating and expanding a decentralized identity partner network; it outlines the integration of the solution into BTC, ETH, Celo, Tron, etc., which is under construction now. 


The company’s founder, Li Jun, said: “With these new integrations, our tailored decentralized identity solutions now offer a higher degree of chain interoperability, greatly elevating the status of our offerings within the industry.

Its Latest Decentralized Identity Solution

Followed by this use case, Ontology also introduced a new decentralized identity solution, making it easier for crypto traders and crypto holders to securely manage and exchange their digital assets. 

Through this solution, crypto holders can access a complete view of all their assets through the Ontology website or ONTO app. No matter what wallets those assets are held in, crypto holders will have a clear picture of their digital assets. 

Apart from this, users will be able to access their Ontology’s credit scoring system on any chain.

This unique decentralized identity solution aims at connecting users’ assets to their identity, thus providing increased security and trust to all parties involved. It aims to connect the missing pieces of decentralized finance’s ecosystem all in one place. 

Want to have in-depth understanding of cryptocurrencies? Become a Certified Cryptocurrency Expert today!

Ontology to Build Trust in the Automotive Industry

Since its release in 2017, Ontology has made huge achievements across various domains. As it continues to make remarkable efforts, it has recently launched a unique decentralized identity to transform the automotive industry. 

For focusing on this industry, Ontology offers a blockchain-based decentralized digital identity solution that allows data related to driving to be stored and verified safely without compromising security. Not only this, but the platform also aims at offering multiple benefits to drivers and a wider audience of the automotive industry. 

The entire process is easy. 

Initially, a driver has to activate ONT ID, Ontology’s mobile digital ID application, and decentralized framework. This process allows drivers to manage his/her digital ID by storing their data locally on the phone or on trusted cloud storage securely. As we already mentioned, ONT ID uses cryptography algorithms (with a private key) to identify and connect identities and assets and grants. When a driver wants to open his smart lock enabled car, his data is recorded securely. Thus, ONT ID can be utilized as a unified account that gives control of their data in their own hands. 

Furthermore, the Ontology platform also supports a built-in ONTO self-sovereign data wallet, a mobile app for the data, and asset management that allows drivers to share their driving details with other ONT users instantly. 

And if in case a car accident takes place, the driver can instantly settle his insurance pay through an Ontology-powered insurance application.

The Verdict

Ontology is not only transforming the automotive industry; it is allowing businesses to selectively choose what information they want to share from their own blockchain. Few consider this platform as a potential boon for all those who want to keep going with the blockchain revolution.

To get instant updates about blockchain certifications and become a blockchain expert, check out Blockchain Council.

Ontology- A Decentralized Identity Framework and its Wide Applications

Source

Indian Police Investigate Crypto Exchange Accused of Running Mining Scam

by

Cryptocurrency fraud is currently running rampant across several countries. India is one of the countries with the most common of such criminal activities, and law enforcement is now investigating yet another case.

Branching Out Into Fraud

Earlier this week, local news source Millennium Post reported that the Economic Offence Wing of the Delhi Police had launched a full-scale probe into Pluto Exchange, a local digital asset exchange platform, and its operators. Per the report, the investigation came after 43 investors filed a complaint against the firm.

The complaint alleged that Pluto Exchange’s founder, Bharat Verma, and several other company officials, had developed a fraudulent scheme that lured investors. The scheme was purportedly a trading and mining operation called “F2poolminin.” It ran as a subsidiary of the exchange.

One of the plaintiffs explained that he met the exchange operators first at the Connaught Place, a business and technology hub in New Delhi. They told him that he could invest in the scheme and make between 20 to 30 percent monthly. He added that they also offered him some extra commissions if he managed to bring more people into the fold.

The plaintiff eventually invested $6,500 with the scheme. When he didn’t get any returns for a while, he confronted Verma, who told him that the company had been unable to pay because some of its bank accounts had been frozen, and the Bitcoin price had dropped significantly.

Per the report, Pluto Exchange had left India and is now based in Dubai. However, they’re still running the scam and have ow collected about $6.8 million from investors.

India’s Extensive Crypto Crime Problem

The Pluto Exchange saga is currently the latest in a long line of fraudulent crypto operations seeking life in India. For now, perhaps the most popular scam form has been call center scams, which are targeting some high-income residents.

India TV News reported last month that cybercriminals are targeting these victims through messages on social media, encouraging them to buy Bitcoin through a mobile app. The app, which purportedly functions as a crypto exchange, is merely a sham. Once a user deposits Bitcoin into the exchange, the scammers block the person and disappear.

A witness told the news source that an unidentified victim lost $50,000 to the scheme, while another unnamed businessman lost at least $3 million.

The scammers have also targeted some top government officials. Earlier this month, India Today reported that hackers managed to break into the Twitter account of Prime Minister Narendra Modi. The hackers, known under the collective name “John Wick,” reportedly asked Modi’s followers to donate to “PM National Relief Fund for Covid-19,” a fake coronavirus relief fund.

Blockchain data shows that no funds were sent to the site, leading to the belief that the massive Twitter hack of July had made people much wider. However, this growth in fraudulent activities is alarming.

Sidharth Sogani, the founder and chief executive of blockchain and cryptocurrency research company Crebaco, told Cointelegraph last month that Indian investors lost about $500 million to scammers both home and abroad between 2017 and 2019. hings also can get much worse, as cryptocurrencies are growing in popularity across the country.

Indian Police Investigate Crypto Exchange Accused of Running Mining Scam

Source