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Ampleforth Publishes Updated White Paper for Non-Correlated, Price-Stable Digital Asset

Ampleforth — the developer of a new synthetic commodity designed to diversify risk — has released an updated white paper for its digital asset protocol. Ampleforth — the developer of a new synthetic commodity designed to diversify risk — has released an updated white paper for its digital asset protocol. The paper was shared with Cointelegraph in an email on May 13. Citing prior researchers, the white paper’s co-authors define a synthetic commodity as “money that has absolute scarcity but lacks non-monetary use value" — whose possibility was heralded by the innovation of blockchain technology back in 2008. According to the press release, the design for the Ample token — expected to be traded under the ticker symbol AMPL — is intended to resist price correlation with both traditional assets and large market-cap cryptocurrencies such as bitcoin (BTC). As Ampleforth notes, while cryptocurrencies as a sector have thus far broadly shown non-correlation with traditional asset groups and mac..

Binance CEO Publishes Security Incident Update, Apologizes for Blockchain Re-Org Comment

Changpeng Zhao, CEO of major crypto exchange Binance, has updated reporters on the exchange’s security revamp. Changpeng Zhao (CZ), CEO of major crypto exchange Binance, has updated reporters on the exchange’s security revamp and investigation into this week’s $40 million hack in a security incident update shared with Cointelegraph on May 10. The CEO also apologized for having fuelled community concerns by openly discussing the possibility of incentivizing a blockchain re-organization — or transaction rollback — as a possible response to the attack. As reported, Binance suffered a major and premeditated hack on May 7, which reportedly resulted in the theft of around 7,070 bitcoin (BTC) — worth over $40 million at the time — from the exchange’s hot wallets in a transaction that went undetected by the firm’s security systems. The attack was reported to have been conducted by tactics that included phishing and viruses to obtain a large number of 2FA codes and API keys. In his security up..

Bitcoin Developer Publishes Two Proposals for a Taproot Soft Fork

Bitcoin developer Pieter Wuille has unveiled two proposals on GitHub for a Taproot soft fork to address privacy issues. Bitcoin (BTC) developer Pieter Wuille has unveiled two proposals on GitHub for a Taproot soft fork in a message to the bitcoin-dev mailing list on May 6. Taproot is a solution that aims to combine the advantages of Merkelized Abstract Syntax Tree (MAST) and the Schnorr signature scheme in order to reveal less information after a bitcoin transaction takes place. MAST allows for the alternative possibilities of how a bitcoin transaction could have occurred to remain private, and Schnorr allows for a MAST-enabled transaction to occur without revealing that MAST was used to check transaction conditions. In Wuille’s memo, he notes that the following points are addressed in the proposals: “Taproot to make all outputs and cooperative spends indistinguishable from each other. Merkle branches to hide the unexecuted branches in scripts. Schnorr signatures enable wallet softwar..

Community-Led Pan-African Blockchain Standards Org Publishes Draft ICO Guidelines

ADAF is a project that aims to establish compliance-focused, cross-border blockchain standards for the African continent. The African Digital Asset Framework (ADAF) — a project that aims to establish compliance-focused, cross-border blockchain standards for the African continent — published the first version of its guidance for initial coin offerings (ICO) on March 25. ADAF is supported by the African Digital Asset Foundation (which shares the same acronym) — a non-profit organization and open-source project founded in November 2018, which aims to encourage self-regulation and foster the establishment of legal and technical standards that would support digital trade between the African continent and the diaspora. According to an official blog post accompanying the new standard, entitled “Consumer Protection Guidelines on Token Generation Events, version 0.1,” the document was prepared by an open source community of 17 companies, which together represent 14 countries under the aegis of..

IBM Publishes Patent for Resisting Replay Attacks in Permissioned Blockchains

IBM is adding to its arsenal of blockchain patents with an application for improving the security of permissioned blockchain networks. Multinational computing giant IBM is adding to its arsenal of blockchain patents with an application for improving the security of permissioned blockchain networks. The patent, first filed in October 2016, was published by the United States Patent and Trademark Office on March 12. The patent is entitled “Resisting replay attacks efficiently in a permissioned and privacy-preserving blockchain network,” and outlines security techniques for withstanding such attacks while maintaining valid user permissions and privacy. In its most general sense, a replay attack is a valid data transmission that is maliciously or fraudulently repeated or delayed. IBM’s background for its patent explains this threat within the context of blockchains, outlining that: “In a replay attack the attacker simply ‘replays’ a message that was ‘eavesdropped’ on from the network or th..

Post-Trade Market Infrastructure Giant DTCC Publishes Guidelines for Tokenized Securities

Global post-trade market infrastructure giant The Depository Trust & Clearing Corporation (DTCC) has published guiding principles for the post-trade processing of tokenized securities. The Depository Trust & Clearing Corporation (DTCC), a global post-trade market infrastructure giant, has published a white paper outlining guiding principles for the post-trade processing of tokenized securities. News of the white paper was announced in an official DTCC press release on March 13. The paper — targeted at regulators and other market participants — identifies the characteristics that are unique to the emerging tokenized security asset class and its market structure. In the press release, DTCC proposes that: “The market for trading crypto assets that are security tokens where the post-trade processing uses distributed ledger technology (DLT), has created a need for safety, security and reliability around these transactions to protect market stability.” DTCC deems that global policy standard..

Israel Securities Authority Publishes Final Recommendations on Crypto Regulation

Israeli securities regulators published their final recommendations for crypto regulation, offering to create a platform for trading cryptocurrencies. The Israel Securities Authority (ISA) has published its final report on cryptocurrency regulations, local financial newspaper Globes reports Thursday, March 7. A special committee formed in 2017 to develop proper regulations for cryptocurrencies has presented its report to ISA chairperson Anat Guetta. Commenting on the recommendations, Guetta said that they were designed both to develop the crypto sector and protect the rights of investors. She further added that the technology is “here to stay” despite the fact that excitement in the industry has cooled. The ISA recommends imposing disclosure requirements for crypto offerings that qualify as securities and states that such offerings should be controlled in a similar manner to crowdfunding. The final ISA report puts forth several main ideas for how to support the crypto industry in the ..

Big Four Auditor PwC Publishes Crypto Insolvency Guide, Cautions Directors

PwC has published guidance for financially distressed or insolvent businesses in the crypto sector. Big Four audit and consultancy firm PwC Hong Kong has published guidance for financially distressed or insolvent businesses in the crypto sector. The document, released February 2019, tackles the complexities specific to the nascent industry, in particular in regard to asset valuation and multi-jurisdictional operations. PwC notes that the two parameters used to determine a company’s financial viability — cash flow and balance sheet assessment — may be more difficult to ascertain in the case of crypto assets, whose volatility complicates a clear-cut valuation. The document continues: “Further, the lack of clarity on the accounting treatment of cryptoassets and as of yet, no broad consensus on taxonomy in the crypto world or how to accurately value cryptoassets, means that ambiguity may arise when evaluating the solvency status of your crypto firm.” Once a company’s financial standing is..

Blockstream Publishes Schnorr-Based Test Code for Bitcoin Blockchain Upgrade

Tech firm Blockstream has released the Schnorr-based multi-signature scheme MuSig designed to address Bitcoin blockchain privacy. The Schnorr-based multi-signature scheme MuSig, a test code for a potential upgrade to the Bitcoin (BTC) blockchain, has been released by blockchain tech firm Blockstream, according to an announcement published on Feb. 18. Last January, four Bitcoin developers released a paper outlining how Schnorr multi-signatures (‘multisig’) could help scale the Bitcoin blockchain, saying that the technology could reduce its transaction size and “improve both performance and user privacy in Bitcoin”. In the paper, the developers state that MuSig is designed as “a protocol that allows a group of signers to produce a short, joint signature on a common message.” Today’s announcement reveals that MuSig has been turned from an idea into usable code, while this week the code was also merged into secp256k1-zkp, a fork of secp256k1 representing “the high-assurance cryptographic ..

Fasttoken Publishes State Channels Codes

This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the press release. One of the most known issues with which the Ethereum blockchain is currently dealing with is scaling. State channels are a form of blockchain interactions which are conducted off-chain and can be used to support higher scalability. Although this method has been around for some time, it doesn’t seem to be a favorite in terms of implementation. Fasttoken’s breakthrough After six months of on-going development, Fasttoken has presented a demo of their blockchain-based casino games at ICE London, which is one of the most significant events of the gambling industry; this brings together both the online and offline world. The..
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