What is Oracle and why it is so important?

Since Oracle is the only way for smart contracts to interact with data outside of the Blockchain environment, it performs core functions and plays an indispensable role in cryptocurrency and Blockchain industry. Generally speaking, Oracle is a third-party agent that finds and verifies real-world occurrences and submits this information to a blockchain to be used by smart contracts.The Oracle might be considered as a data feed specially designed for use in smart contracts. It provides the necessary data to trigger smart contracts to execute when the original terms of the contract are met. These conditions could be anything associated with the smart contract – temperature, payment completion, price changes, etc. Technological revolution and Blockchain There are no doubts, that we are now standing on the threshold of big changes. The blockchain is considered to be the main driver of them. The implementation of distributed ledger technology will bring us closer to creation of such things as Internet of Things, Web 3.0, Decentralized applications and organizations and new business models and solutions. All these changes will definitely revolutionize our vision of modern businesses, internet and technologies. The blockchain is developing at exponential paces covering more and more companies, countries and business spheres all over the world. Thus, for example, according to IBM report, 15% of banks worldwide expect to widely implement Blockchain within this year. In addition, IBM says that in four years 66% percent of banks expect to have Blockchain in commercial production and at scale. There are also another arguments in favor of blockchain revolution. For instance, the smart-contracts market is skyrocketed in recent years with the grow in number of contacts from 123.000 in 2016 to 5.400.000 in 2018. And this is only the beginning…. The problems that businesses face when moving into blockchain However, the implementation of blockchain is not as easy as it might seem. First of all, businesses simply can not integrate their existing data with the blockchain. They also like Decentralized applications (dApp) need an interface to communicate with real-world data. The reason for this is that there is a fundamental difference of formats. In order to solve this issue, different types of Oracles appeared. With the help of Oracles, smart contracts receive real-world applications in virtually every field available. Once data hits the Blockchain, the information can be used to execute the contracts and provide use cases, which can disrupt industries across the board. The main issues that businesses face during blockchain implementations are:⧫ Deficiency of specialists and ready-made solutions for blockchain implementation – makes the process of blockchain developments extremely costly and strongly inhibit the blockchain wider implementation.⧫ Lack of standardized blockchain solutions for cooperation and interaction between businesses – makes it impossible to build a system of ratings and interactions between different oracles or data sources on a global scale. ⧫ Absence of a mechanism for resolving disputes – undermine the democratized trust created by blockchain technology and hinder its broadening evolution and applicability. DUCATUR – Common solution for all Oracle’s problems The DUCATUR has all opportunities to become a universal solution for future blockchain implementation and help a lot of businesses to step into a new technological era. We provide the first Multi Chain Oracle framework that will become a universal instrument for blockchain implementation for companies and organizations. The DUCATUR network provides highly standardized ready-made solutions for companies and realizes it’s own disputes resolving mechanizm named decentralized court that will monitor the operation. Here in DUCATUR, we are highly concerned about the current market situation and therefore – we would like to make the access for companies to blockchain easier by creating a universal framework with blockchain solutions that can be simply implemented by any company. Website: https://ducatur.com/?utm_source=http%3A%2F%2Fthemerkle.com&utm_medium=Press%20release One pager: https://ducatur.com/static/ducatur-onepager.pdf?utm_source=http%3A%2F%2Fthemerkle.com&utm_medium=Press%20release WhitePaper: https://ducatur.com/static/ducatur-whitepaper.pdf?utm_source=http%3A%2F%2Fthemerkle.com&utm_medium=Press%20release This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.

NEM Price Takes Another Beating as Value Dips Below $0.90 Again

All cryptocurrency markets are struggling for traction once again. With losses in both the one-hour and 24-hour department, things are not looking all that promising. NEM is a prime example of how quickly markets can turn around. After a major dip last week, it seemed the NEM price would stabilize around US$1. Nothing could have been further from the truth, as the price is headed back to US$0.85 and potentially lower. Another Tough Week Ahead for the NEM Price Last week generated a pretty big scare for all NEM holders and speculators. With Coincheck being hacked, there was genuine concern that the NEM price might take a big dump as the criminals sold the stolen coins on the market. So far, none of the coins have been sold or transferred. Additionally, Coincheck will reimburse its users, which means there is no real reason for the NEM price to go down even further. In fact, the NEM price quickly reversed course and peaked at US$1.12. Many people assumed the US$1 level would serve as a solid support for NEM, but the reality has turned out very differently. Rather than acting as support, this level has turned into resistance. As a result of this negative pressure, one NEM is now valued at US$0.88, although it may fall a lot lower in the coming hours. Due to a 7.3% loss in USD value and a 6.15% loss in BTC value during the past 24 hours, things look bleak for NEM. As all markets are losing value, this downtrend is anything but surprising. The NEM price is not the only one suffering from big losses, even though it is one of the bigger “losers” among the top 10 right now. Indeed, only Cardano and XLM have suffered bigger losses over the past 24 hours. With US$38.96 million in 24-hour trading volume, it is evident traders have cooled off on NEM for the time being, as is the case with all other crypto markets. Low volume may keep the NEM price above US$0.85 for the rest of the day, but it remains to be seen what the future holds in this regard. Unless this trading volume picks up, we will not see any positive NEM price momentum. Zaif is still the busiest exchange for NEM, as it generated over 45% of all trading activity over the past 24 hours. Upbit is in second place, with under one-third of Zaif’s volume. HitBTC is also in the top three, as it has a clear lead over both Poloniex and Bittrex. With two fiat currency markets among the top three, things aren’t looking half bad for NEM right now. That doesn’t mean we will see much fresh capital enter the markets over the coming days, though. Today will not be a good day for any cryptocurrency market; that much is virtually guaranteed.

Bytecoin Price: Massive Pump Will be Followed by a big Dump

It is evident all cryptocurrencies are trying to recover some of their lost value in the past few months. Doing so will be a monumental challenge, although the past 24 hours have shown some positive changes as well. Even so, specific currencies are going through massive pumps with little trading volume. The Bytecoin price, for example, has risen by over 18%. Bytecoin Price Pump Materializes out of the Blue Most people know all too well how altcoins will only thrive when the Bitcoin price shows some positive momentum. Considering how that is happening over the past 24 hours, it is only normal most currencies note positive momentum as well. The Bytecoin price, however, is increasing by leaps and bounds for no apparent reason. Especially when looking at its current trading volume, the trend makes very little sense. It is not the first time the Bytecoin price gets a major pump. Such trends have materialized at least three times since late April. Every time the Bytecoin price rises, it is usually followed by a major dip. Not entirely unexpected, as the number of use cases for BCN is quite limited, and there is no real reason for this coin to have a market cap of over $1.2bn in its current state. Even so, cryptocurrencies hardly ever make sense, and Bytecoin is no different in this regard. It is also worth noting how the Bytecoin price is rising thanks to solid increases in the BCN/BTC ratio. More specifically, there has been a 14.36% increase in favor of the altcoin, which is always rather interesting to keep an eye on. Even so, it seems highly unlikely the Bytecoin price will remain at this level for much longer. A dip to $0.005 and lower seems to be rather imminent. It is the trading volume of Bytecoin which also raises a lot of questions. More specifically, there is $56.6m in 24-hour trading volume, which is anything but impressive at this stage. With all currencies generating a bit more volume compared to last week, Bytecoin remains rather unappealing to the masses. It will be interesting to see if this lack of trading volume will affect the currency moving forward. Looking over the exchanges ranked by BCN trading volume, it seems Binance is still in the lead, for the time being. Its BTC and ETH pairs are both in the top four, whereas HitBTC and Poloniex claim second and third place with their BTC pairs. HitBTC also completes the top five with its USDT market. Since Bytecoin doesn’t have any fiat currency markets to speak of, it will be interesting to see how this situation evolves in the hours and days to come. For the time being, it remains to be seen if and when the Bytecoin price will hit its peak before correcting course. As of right now, some of the earlier gains have already been wiped out, and it seems that situation will continue to head in the same direction moving forward. Even so, there’s still a lot of good money to be made when trading BCN, but one has to prepare for a massive correction as well.

Bitcoin Crashes to 2018 Low, Could Falling Hash Rate and BCH Civil War Be...

As Bitcoin spirals to new 2018 lows and drags the enitre cryptocurrency market down with it, investors and analysts are becoming increasingly interested in the factors that could be contributing to this drop that extends further than simply a lack of buying volume and increased selling pressure. At the time of writing, Bitcoin is trading up marginally at its current price of $3,800, posting slight recoveries from this weekend’s drop, where the cryptocurrency’s price fell to new 2018 low in the $3,500 region. Following BTC’s drop to these levels, it sharply bounced back to highs of $4,100, before falling back to $3,600. The $3,600 region may prove to be a new level of support for BTC, which quickly bounced earlier this morning when hitting this price level. Whether or not this relatively minor bounce continues or fizzles out will prove whether or not this price level is the cryptocurrency’s next support level. Bitcoin’s unprecedented drop has affected the entire cryptocurrency markets, with many altcoins setting fresh 2018 lows, including Bitcoin Cash (BCH), which is currently trading at $180, and Ethereum, which is currently trading at $109, slightly higher than its 2018 low of $100, which was set this past Sunday. Related Reading: Bitcoin Cash Extends Loss to 7%, at Risk of Dipping to New All-Time Low What Could Be Causing Bitcoin to Drop? The 2018 drop of the number one crypto has extended far beyond simply a boom and bust market cycle, and now rivals previous drops that were caused by traumatic industry events, including the 2014 Mt. Gox hack. Two possible factors contributing to the sharp market decline is community division stemming from the ongoing Bitcoin Cash civil war, which has polarized the cryptocurrency industry, and Bitcoin’s falling hash rate, which is the result of miners shutting off their rigs. Earlier this month, BCH underwent a notorious hard fork that separated the cryptocurrency into two fragments: Bitcoin Cash SV and Bitcoin Cash ABC. The SV version is supported by Craig Wright, who is commonly referred to as “Fake Satoshi” due to his claims that he is the elusive founder of Bitcoin. The ABC version, which is simply the original Bitcoin Cash, has the support of major organizations, including Chinese mining giant, Bitmain. The hard fork has created a division in the cryptocurrency community that has likely siphoned trading volume away from Bitcoin Cash ABC and caused many investors to lose a significant amount of money, therefore decreasing market sentiment and investor morale. Furthermore, Bitcoin’s falling hash rate may be another factor contributing to its price drop. The hash rate is the direct result of the number of miners that are contributing computing power to BTC, which has been on decline due to Bitcoin’s persisting bear market. There are even rumors circling that Chinese mining groups are selling their GPUs for scrap due to the unprofitability of mining. Charles Hayter, the CEO of cryptocurrency comparison site, CryptoCompare, spoke to CNBC about Bitcoin’s falling hash rate, saying: “Bitcoin has been correlated to its hash rate and with it now falling, so is the price. The idea is that the hash rate gives some idea of what underlying opex (operating expenses) and capital costs people are willing to utilize to generate Bitcoin and give it a benchmark price.” Despite the low prices and seemingly endless bear market, investors ought to remember that there are events right around the corner that have the potential of reversing the markets, including Bakkt’s launch in late-January, and the SEC’s verdict on the VanEck/SolidX Bitcoin ETF in early-2019. Featured image from Shutterstock. The post Bitcoin Crashes to 2018 Low, Could Falling Hash Rate and BCH Civil War Be to Blame? appeared first on NewsBTC.

Regulators Pressuring Google To Follow Facebook In Banning Ads Related To Binary Options, ICOs,...

Following Facebook’s announcement last week that it was banning all advertising for binary options, cryptocurrencies, and initial coin offerings (ICOs), a Canadian regulator has called on Google to do the same. On January 30th, Facebook announced it was banning all advertising for binary options, cryptocurrencies, and ICOs following pressure from the FBI and Canadian securities regulators, as both groups step-up investigations into online investment fraud. “We’ve created a new policy that prohibits ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings and cryptocurrency,” Facebook product management director Rob Leathern wrote in a blog post detailing the company’s ban. In response (according to an interview with The Times of Israel), Jason Roy, a senior investigator at the Manitoba Securities Commission and chairman of Canada’s Binary Options Task Force, said: “We’re very pleased with Facebook’s decision. My hope is that Google will enact a similar policy, where they specifically name products like binary options, ICOs, and cryptocurrencies.” But Google, who generates a lot of the paid traffic for fraudulent binary options, cryptocurrencies, and ICOs, has yet to ban the ads. When asked whether the company was going to enact a similar ban, Google spokeswoman Roni Levin replied by email, saying: “We already ban and enforce against misleading ads and misrepresentation (across all categories). Here are the policies — Misrepresentation and Misleading Ads.” A quick search for both “binary options” and “cryptocurrencies” in the Google search bar reveal that the company is, in fact, still selling ads for these products. A particular focus by Roy and other regulators is the presence of binary options, which are often called all-or-nothing options. And while it is perhaps true that this sector of the industry is plagued by frauds — Israel and a number of other countries have banned them entirely — it can be a problem when the authorities lump all crypto-sectors together. There are huge differences in risk between, say, binary options, and well-researched small investments into cryptocurrencies. Roy doesn’t necessarily see it that way, though. When looking at cryptocurrency ads circulating the internet, he sees an ominous pattern: “You have the former binary options firms that have made the switch to offering cryptocurrencies, and it’s basically the binary options scam 2.0.” Roy said that Canadian and other law enforcement agencies are waiting for Google to follow Facebook and enact a specific ban: “What happened is that Canada’s Binary Options Task Force, as well as the FBI, explained to Facebook what the concerns were and that these types of ads are leading to people becoming victims. We’ve been talking to Google and had similar discussions and are waiting for them to take similar action.” The post Regulators Pressuring Google To Follow Facebook In Banning Ads Related To Binary Options, ICOs, And Cryptocurrencies appeared first on NewsBTC.

American Boxing Legend Mike Tyson Chooses Blockchain for New Venture

Iconic American boxer Mike Tyson is spearheading a new blockchain-powered cross-entertainment platform for a new generation of fighters.On Aug. 13, VentureBeat reported that the new venture — dubbed “Fight...

Bitcoin Price Watch: BTC/USD’s Rebound Above $6,350 is Real?

Key Points Bitcoin price recovered nicely after trading as low as $5,894 and moved above $6,200 against the US Dollar. There is a new connecting bullish trend line forming with support at $6,180 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could revisit the $6,550 resistance zone as long as it is above the $6,150 level. Bitcoin price rebounded more than $300 from lows against the US Dollar. However, BTC/USD is facing many resistances near $6,450 and $6,550. Bitcoin Price Analysis Recently, we saw a downside push in bitcoin price below the $6,000 support against the US Dollar. The BTC/USD pair traded to a new monthly low at $5,894 and later it started an upward correction. Tt recovered nicely and moved above the $6,200 resistance zone. The price even broke the 50% Fib retracement level of the last key downside move from the $6,550 swing high to $5,900 swing low. It opened the doors for more gains and the price settled above the $6,200 level plus the 100 hourly simple moving average. It is currently consolidating gains near the $6,300 level. On the upside, an initial hurdle for more gains is near $6,390. The stated level is close to the 76.4% Fib retracement level of the last key downside move from the $6,550 swing high to $5,900 swing low. Above $6,390, the price could trade towards the next important resistance around $6.500-6,550. Finally, a push above $6,550 is needed for a real and substantial recovery in bitcoin. Looking at the chart, BTC is showing a few positive signs above $6,200 and the 100 hourly SMA. However, as long as the price is below $6,550, it could drop once again. On the downside, supports are at $6,200 and $6,180. Looking at the technical indicators: Hourly MACD – The MACD for BTC/USD is placed nicely the bullish zone. Hourly RSI (Relative Strength Index) – The RSI is placed well above the 60 level. Major Support Level – $6,200 Major Resistance Level – $6,550 The post Bitcoin Price Watch: BTC/USD’s Rebound Above $6,350 is Real? appeared first on NewsBTC.

About Half of 2017’s ICOs Have Failed Already

2017 could certainly be considered the year of the Bitcoin. ICOs, the crowdfunding method made headlines almost as much as the cryptocurrency, so how exactly did they fare? Not well according to reports which indicate that despite having raised more than $104 million, 46% of 2017’s ICOs are effectively already dead. The report was compiled from information from Tokendata, a leading comprehensive ICO tracker, which lists 902 ICOs taking place last year. Of these, 142 failed at the funding raising stage and 276 have since failed, either due to taking the money and running in a classic exit scam or just slipping into obscurity or exile. This brings the number of failed ICOs to 418 out of 902. And it gets worse: An additional 113 ICOs have been classified as “semi-failed,” either because their team has removed their presence from the internet and social media, or because the community is too small to move the project forward successfully. Taking into account semi-failed ICOs brings the percent effectively dead to a staggering 59%; 531 out of 902 gone, and with them $233 million. Looking at the countries of origin for failed ICOs shows that developing nations – in particular, countries in Africa – are over-represented. These ICOs just leave behind the bones of their projects: deleted Twitter accounts, empty Telegram groups, websites no longer hosted, and communities no longer tended are par for the course. Many of the dead ICOs were doomed from the start — those familiar with the ICO space might recall projects like Clitcoin and Zero Traffic. Others, like freight trucking platform Doft – which fell flat at the fundraising stage – are starting over, hoping last years failures can be written off as a trial run. Fast Forward These reports come as Telegram’s record-breaking ICO is raising suspicion from some industry insiders and crypto enthusiasts. The company raised $850 million last year — and has just announced that it intends to hold a second ICO to raise more. Matthew Green, cryptographer and professor at Johns Hopkins University, finds some of the claims in Telegram’s white paper unrealistic: “I’ll be honest, the white paper reads like someone went out on the internet and harvested the most ambitious ideas from a dozen projects and said ‘let’s do all of those but better!’ It feels unachievable, at least at the scale they’re aiming for now.” Despite all this, there are some positive developments: Tezos, which raised $232 million last year, is back on track with their project after concerns that the token was never going to materialize following months of delays and infighting between executives. The post About Half of 2017’s ICOs Have Failed Already appeared first on NewsBTC.

Explaining the Qubic Computation Model: Part 4 : CryptoCurrency

" In the first part of this series, we have looked at a conceptual overview of the Abra specification, which describes the how data flow is achieved within the Qubic...

India’s Govt Considers Allowing Crypto Tokens for Metro Cards, Airline Tickets: Report

India’s government is reportedly mulling the launch of crypto tokens of its own for financial transactions in the country despite an ongoing banking ban on decentralized cryptocurrencies. An inter-governmental committee tasked to study and propose a regulatory roadmap for the cryptocurrency sector is also examining the usability of crypto tokens in the public sector, domestic The post India’s Govt Considers Allowing Crypto Tokens for Metro Cards, Airline Tickets: Report appeared first on CCN

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