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OKEx pushing for global cryptocurrency exchange standards through self-regulated organization

OKEx launched an initiative to develop a global compliance standard for cryptocurrency exchanges. This will be done through a self-regulated organization whose members will work together to define and adopt these standards. OKEx leads the way for global exchange standards The lack of worldwide standards for regulating cryptocurrency exchanges has been a persistent problem in the industry. The global and decentralized nature of crypto exchanges requires each company to comply with a tangle of local and international regulations, often losing out on market opportunities due to strict or unclear laws. However, this could soon change as a consortium of exchanges is set to work on introducing global standards that would help standardize regulations. OKEx, a leading crypto spot and futures trading platform originally based out of Hong Kong and later re-incorporated in Malta, announced that it is launching an initiative to develop global compliance standards for crypto exchanges. To do so the company is creating another self-regulating organization (SRO). The organization will be structured in a similar way to the World Federation of Stock Exchanges, FINRA in the United States, and the World Economic Forum, the company said, and will engage exchanges and market participants in the global crypto-trading community. Andy Cheung, head of operations for OKEx, said that regulations by jurisdiction are not enough to promote digital asset adoption globally. “The only way for exchanges to grow and deliver impact is by joining together to develop practices and policies that will set a global standard and adapt to regional regulatory frameworks,” he said in the release. A new age for worldwide regulation OKEx’s new initiative was first shared in Malta, during DELTA Summit 2019. Enzo Villani, OKEx’s Head of Strategy and Innovation and former NASDAQ executive, announced the news, saying that it will be an independent, membership-based organization that is neutral and open to exchanges of all sizes and jurisdictions. All prospective members will have to clarify their operational practices and cooperate with governments to encourage innovation in this sector. The SRO will focus on establishing standards for market-making, listing and delisting digital assets, and other items critical to the growth of the entire industry, OKEx said in the release. This initiative seems to be riding on the wave of crypto companies taking matters into their own hands. Earlier this week, Japanese financial services giant Monex Group announced that it had established an association that will work to develop regulations regarding security token offerings in the country. The post OKEx pushing for global cryptocurrency exchange standards through self-regulated organization appeared first on CryptoSlate.
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OKEx Reveals Plans Of Establishing SRO For Crypto Exchanges

In its bid to make crypto exchanges self-regulated, OKEx has revealed its plans of establishing a “Self-Regulated Organization” (SRO). According to plans, the organization will be responsible for standardizing exchange practices and policies. OKEx Introduces Crypto Exchange SRO At Malta Blockchain Summit This news comes following OKEx announcement at Malta Blockchain summit. The announcement was aired on the first day of the blockchain event when OKEx disclosed the initiative. As per a press release, OKEx encourages exchanges and other market players in the global crypto-trading ecosystem to be the founding members of this initiative, which shares many similarities to the World Federation of Stock Exchanges, United States’ FINRA, and the World Economic Forum. According to Andy Cheung, COO of OKEx, “Cryptocurrencies are global and decentralized, and the industry remains nascent, thus regulations by jurisdiction are not enough,” said Andy Cheung, Head of Operations for OKEx. “The only way for exchanges to grow and deliver impact is by joining together to develop practices and policies that will set a global standard and adapt to regional regulatory frameworks.” OKEx Invites Other Crypto Exchanges To Be Part Of The Initiative As the organization is open to exchanges of varying sizes and from all jurisdictions, the initiative will be a membership-based organization and will be independent. It will serve as an additional regulatory body to already existing traditional financial regulators. Also, the SRO Member exchanges will cooperate to decide and adopt regulatory measures with the objective of promoting digital asset adoption globally, educate governments and regulators, and develop standards and criteria for trading, listings, and reporting. OKEx was recently involved in a tangle with Blockchain Transparency Institute (BTI) on issues related to wash trading and reporting fake trading volumes. The exchange’s COO, Andy Cheung had claimed that the report was false and had demanded an apology from the institute. Andy Cheung maintained that the methodology used to arrive at such report was questionable as no details about how they had arrived at the figures involved was revealed. He further alleged BTI’s website did not seem very transparent. The post OKEx Reveals Plans Of Establishing SRO For Crypto Exchanges appeared first on Coingape.
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IOTA and Zuhlke to Develop Machine-as-a-Service Solutions

In an official blog post published on October 1, 2019, distributed ledger technology (DLT) non-profit IOTA (MIOTA) announced its partnership with Zuhlke – a firm providing services for innovation projects – to jointly develop a platform for organizations to engage in the machine economy. A Tangle to Untangle the Machine Economy Germany-based non-profit IOTA isRead MoreRead More. The post by Aisshwarya Tiwari appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
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IOTA Unveils Decentralized and Autonomous Industry marketplace 

In an effort to promote interconnectivity between humans, machines and machine-readable contracts, the IOTA Foundation has introduced the Industry Marketplace, a decentralized and autonomous marketplace powered by the IOTA Tangle distributed ledger technology (DLT) according to a blog post on September 19, 2019. IOTA’s Decentralized Industry Marketplace Now Live  IOTA, an internet-of-things (IoT) focused distributedRead MoreRead More. The post by Ogwu Osaemezu Emmanuel appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
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IOTA Reveals Industry Marketplace For Machine Transactions

Through all the fuss with automotive partnerships and Coordicides, many observers have been wondering when IOTA’s Tangle would start dealing with industrial IoT. Despite the technical merits of DAG technology,  machine-to-machine transactions have remained a distant goal.  That is, until today. The IOTA Foundation is now announcing the launch of an autonomous, decentralized marketplace where devices will communicate to exchange goods and services between each other. “Who needs humans?” asked SkyNet the IOTA Foundation. Dubbed ‘Industry Marketplace‘, the platform was built with an eye towards the much-anticipated Industry 4.0. Automation will be king in this new reality. Devices will not only contain information or directives, they will also become active decision-makers and optimizers. This allows machines to move from a procedure-oriented paradigm to a goal-oriented one, which requires devices to be allocated resources to accomplish their objectives. Industry 4.0 devices will be autonomous economic agents of their own right, cooperating according to market principles. What Is IOTA’s Industry Marketplace? And that’s where the Industry Marketplace comes in. It will serve as a vendor and industry-neutral platform that automates the trading of goods and services, both physical and digital. Powered by DLT, immutable audit logs and standardized machine-readable contracts, the marketplace satisfies the specifications outlined by Plattform Industrie 4.0, Germany’s network for advancing digital transformation in manufacturing. But the most important feature is the decentralized device identity system. As Jörg Nagel, Managing Director at one of founding partners Neoception, explains: “The IOTA decentralized identity system is even capable of solving a current industrial need of identifying physical devices, which is a prerequisite to attach an Asset Administration Shell to the physical device.“ The Industry Marketplace is an open-source initiative and free for all to join the existing body of founders: eCl@ss, Neoception, Otto von Guericke University Magdeburg, Helmut-Schmidt-University Hamburg, WeWash and the IOTA Foundation.  What is Industry 4.0 in practice? It is often named as the fourth industrial revolution, but it’s not always clear what is so revolutionary about it. It might look like simple computerization, but it goes much further than that. AI, Big Data, and IoT may sound like buzzwords, but they could be components of a major economic transformation. Industry 4.0 automates everything: completely automated assembly lines, automated maintenance of those machines, self-driving automobiles and much more. It puts sensors everywhere it can, up to recording the torque on each individual bolt and feeding it to the central processor.     But at the same time, Industry 4.0 is still far off. Some say that 5G roll-out will be necessary to enable its success, due to the sheer amount of bandwidth required. With the Industry Marketplace, IOTA is making a move to fit inside this complicated puzzle, putting its vision from 2015 into practice. It’s a risky gamble: IOTA will be betting on the the early-mover advantage to cement its position in the new market. With some luck, it may make up for some of IOTA’s previous setbacks.   The post IOTA Reveals Industry Marketplace For Machine Transactions appeared first on Crypto Briefing.
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IOTA Introduces Permanode Tech For Long-Term Data-Storage

The IOTA Foundation is taking a major step towards ensuring permanency in the Tangle, announcing a “Permanode” technology called Chronicle. IOTA is designed as a protocol for the permissionless and frictionless exchange of value between machines and humans, with the Tangle acting as a distributed ledger. Using the new permanode technology, users will be able to securely store data, where it will be  “verifiable to third parties for free.”   While some data doesn’t need to be stored for years, decades, or lifetimes, certain sorts of data require greater permanence. “For example,” the IOTA blog explains, “financial data must be stored for 10 years in some cases, and identity data needs to be kept for the lifetime of the identity.”  The IOTA Foundation describes the new permanode technology as a “crucial building block” for enabling these types of use-cases. The Foundation describes Chronicle as the “official permanode solution,” enabling easy access to the Tangle’s entire history, which is stored indefinitely via the technology.  The system is described as a “distributed fault-tolerant permanode that scales out and up…”     source: IOTA Foundation   Chronicle has some unique and interesting use-cases for community members and businesses, such as offering “query as a service.” Node owners might find a new stream of revenue charging IOTA tokens to access Tangle data. Further services could be added through “Multiplex networks,” offering “microservices… that can communicate with public and private dataset(s) under different policies.”  Chronicle is due for a third-party audit to ensure it is ‘water-tight’ before it is released to the public. The IOTA Foundation invites community members to take part in the work, with grants available for “developing and expanding the notion of permanodes.”   source: CoinMarketCap   IOTA joined the altcoin surge today, enjoying a healthy bump of more than 14% in value against USD and BTC over the past 24 hours. The token has enjoyed a positive week, with over 10% growth in USD price over the past seven days.   The post IOTA Introduces Permanode Tech For Long-Term Data-Storage appeared first on Crypto Briefing.
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IOTA is a distributed-ledger protocol powered by the Tangle, a DAG-based data structure. With its feeless transactions and tremendous scalability IOTA seeks to be useful in the age of the Internet of Things

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Opera Brings BTC to Android; Now Looking to Add TRON

Who would have known Opera and bitcoin could go so well together? We’re not necessarily talking about classically trained singers that wear Viking horns and hit high notes, but rather the Norwegian financial platform that’s been touting the addition of bitcoin to its Android app since July of 2018. Opera and BTC: A Perfect Match? The app was launched privately and was later available to the public in December. Opera inherently became one of the first browsers to support bitcoin directly, and customers did not need any extensions or follow-up downloads to engage in crypto transactions. From there, bitcoin support came to the Opera iPhone app. Opera presently has about 350 million users, and many enthusiasts see this as a prime movement in the fight to make bitcoin mainstream. In a blog post, the company writes: With this release, Opera opens its crypto wallet to the world’s most popular blockchain, making it possible to send and receive BTC directly from the browser the way one would with an image or a music file. This means anyone can now not only send bitcoin and Ethereum to another person but can also use it while interacting with websites to pay for goods or services. Up to this stage, Opera only provided support for Ethereum, the world’s second-largest cryptocurrency and a primary competitor to bitcoin. However, the company is also introducing plans to support Tron in the coming months. The last few weeks have marked by a whole new list of platforms or companies showing support for cryptocurrencies they otherwise were ignoring. One such example comes in the form of the new HTC smartphone known as Exodus 1s, which can allegedly support a full bitcoin node. This means that the phone can hold the entire blockchain ledger. Other examples include Electrum, a new bitcoin wallet which has recently added the Lightning Network to its platform. The Lightning Network is designed to assist with scalability on the bitcoin blockchain. While bitcoin is the oldest, largest and arguably the most popular of the world’s cryptocurrencies, it often lacks the up-to-date technology of its newer altcoin counterparts. Thus, it suffers from slow transaction times and smaller blocks. How Lightning Is Making Things Simpler The Lightning Network initiates micropayments that occur off-chain to ensure that they are pushed through quickly. Electrum’s addition of Lightning is likely to enable faster speeds for customers and ensure that payments are pushed through with ease. We’ve also received word of a new startup called Moon, which allows Amazon customers to purchase goods and services from the online retailer with crypto. The application also works through Lightning-based technology and appears to recognize the Amazon page once you log in. When you’re ready to check out, it provides you with a crypto pay option that shows how many available funds you can spend. The post Opera Brings BTC to Android; Now Looking to Add TRON appeared first on Live Bitcoin News.
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Opera Continues Bullish Crypto Mainstream Drive With Bitcoin Payments

Browser minnow Opera is ramping up cryptocurrency support for Android users in version 54, which has just been released on Tuesday. Among a host of other cosmetic improvements and a new UI, this latest release improves upon the current crypto wallet with support for both Bitcoin and Tron payments. Ethereum has been the staple payment […] The post Opera Continues Bullish Crypto Mainstream Drive With Bitcoin Payments appeared first on CCN.com
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Carson Wentz Gossip Turns Eagles Into Daytime Soap Opera

After the beating the Dallas Cowboys gave the Philadelphia Eagles Sunday night, fans were probably wondering how things could get worse. When they woke up Monday morning, they found out. It appears that at least one fool decided to burn his Carson Wentz jersey following the loss, and – more significantly – Alshon Jeffery is […] The post Carson Wentz Gossip Turns Eagles Into Daytime Soap Opera appeared first on CCN.com
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The Ethereum Ecosystem: Still Relevant After All These Years

Ethereum first went live in 2015, and since then, it’s become one of the market’s top coins. And while four years may not be a lot in most markets, in crypto it’s a lifetime. For Ethereum, it has been quite a ride. With a market cap of $19 billion, Ethereum is the second largest cryptocurrency in existence, and recent reports show that it provides a benchmark for the market. Of course, there’s much more to its success: the Ethereum ecosystem is thriving in its own right. In short, Ethereum is one of the most extensible blockchains. It offers developers the opportunity to create tokens, dApps, collectibles, financial applications, and more. Plus, Ethereum itself will soon be better than ever. Here’s what the Ethereum community is up to right now—and what the Ethereum ecosystem has to offer. Dominance Over dApps and Tokens Ethereum currently leads the dApp market with its sheer number of listings. Right now, it has a total of 2000 dApps—four times more than TRON or EOS, its closest competitors. Ethereum also closely matches those blockchains in terms of dApp volume—each platform handles about $10 million of crypto through its apps in a typical day.   Daily dApp transaction volumes in dollars, via DAppReview   To be fair, EOS and TRON dominate in terms of dApp users and transactions (although many of these are simple gambling apps). Still, Ethereum has a few notable apps in those measures: MakerDAO attracted 2200 users on Monday, making it the third largest dApp by user count. Meanwhile, dYdX, a derivatives platform, handled $371,000 on Monday—making it the 9th largest app by that metric. Ethereum’s token standards are also incredibly influential. Of the top 50 cryptocurrencies by market cap, at least 20 are based on Ethereum’s ERC-20 token standard—including big names like BAT and LINK. Plus, Ethereum’s non-fungible ERC-721 standard has begat collectible items like Decentraland properties and CryptoKitties. New Opportunities For Investment As Ethereum matures, there might be new ways to invest. Recently, the CFTC declared that Ethereum is a commodity, meaning that ETH futures may become an option for institutional investors in the future. It’s conceivable that Bakkt might add ETH futures alongside its BTC futures—though it hasn’t said so explicitly. Additionally, there are some retail platforms that already trade Ethereum futures, such as BitMEX and Kraken. These options attract speculative investors who might not trade on the crypto market itself. Even though futures don’t affect Ethereum’s value directly, they bring value into the crypto ecosystem and facilitate price discovery. There are other investment opportunities as well. MakerDAO, for example, allows you to lock up your Ether as collateral and create Dai stablecoins in return. Meanwhile, peer lending platforms like ETHLend allow you to earn interest by lending out Ether. Suffice to say, there’s a lot you can do with your Ether holdings. Preparing For Ethereum 2.0 Ethereum’s next big milestone will be Ethereum 2.0, which will introduce staking, which allows coinholders to earn rewards. It will also improve scalability through features like sharding, which will allow the blockchain to handle many more transactions. Though Ethereum 2.0 is a multi-year effort, staking should be available in the next few months. At the moment, different Ethereum development groups are running separate testnets. These became interoperable in early September, and according to Ethereum’s creator, Vitalik Buterin, a public network is rapidly approaching. This will be the “last major milestone [before] the network,” Buterin stated during a recent event in Hong Kong. Buterin has also suggested that the upgrade will be seamless. In a post on Ethresear.ch, Buterin suggested that app developers will need to migrate, but coinholders won’t need to do anything at all: “You may want to move your funds into [an ETH2] wallet eventually, but you do not strictly have to and there is no time limit,” he wrote. Can Ethereum Stay Relevant? Of course, not everyone is happy with Ethereum. Some dApps, such as Ethermon, have moved to blockchains like Zilliqa due to the promise of faster transaction speeds. Meanwhile, some projects with ERC-20 tokens have migrated to other platforms like Binance Chain. Finally, some critics believe that sharding is not secure. But despite criticism, Ethereum probably won’t go away. Its brand, market standing, its dominance over dApps, and its ability to drive hype for version 2.0 seem to be a winning combination. Though it has many competitors, Ethereum has first mover advantage and the biggest developer community in crypto —giving it a head start and making it the favorite to continue to tower over the competition.     The post The Ethereum Ecosystem: Still Relevant After All These Years appeared first on Crypto Briefing.
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