WWW.BLOCKCAST.CC
Digital machine learning platform (ML) HUMAN Protocol has partnered with a nonprofit research institute, The Salk Institute for Biological Studies. The partnership seeks support for creating and improving systems that provide an in-depth understanding of the animals’ and plants’ behavioural partners using various tagging techniques. Salk researchers have developed SLEAP, an open-source deep learning framework, […]
Visit us at https://is.gd/Ka45N6
Visit us at https://is.gd/gZ01Hs
Visit us at https://is.gd/bvVWjB
Visit us at https://is.gd/UXrMR9
Original title: “Hardcore丨How to use machine learning to identify the risks of encryption projects? 》
Written by: Pengtai Xu
Translation: Sherrie
Cryptocurrency is a transaction medium (another form of payment) that exists in the digital world, relying on encryption technology to make transactions secure. The technology behind cryptocurrency allows users to send money directly to others without going through a third party, such as a bank. In order to conduct these transactions, users need to set up a digital wallet instead of providing personal details such as ID numbers or credit scores, so users can be pseudo-anonymous.
For ordinary cryptocurrency users, this anonymity can reassure them that their personal information or transaction data will not be stolen by hackers. However, the increased anonymity of such transactions can also be easily abused by criminals for illegal activities such as money laundering and terrorist financing. This illegal activity has caused huge losses to both blockchain wallet users and cryptocurrency entities. Although regulatory agencies such as the Financial Action Task Force (FATF) have introduced standardized guidelines in the supervision of these entities, due to the large number of cryptocurrency entities and transactions that occur every day, monitoring the cryptocurrency space is a challenge Task.
Image Source:
Therefore, people are interested in using open source information, such as news sites or social media platforms, to identify possible security breaches or illegal activities. In cooperation with Lynx Analytics, we (a student team from the National University of Singapore) have worked to develop an automated tool to scrape open source information, predict the risk score of each news article, and flag risk articles. This tool will be integrated into, which is a tool developed by Lynx Analytics to help regulators monitor blockchain activities through the use of various information sources.
We have identified 3 types of open source data that can provide valuable information to help detect suspicious activities in the cryptocurrency field. These categories are:
Retrieve the content of articles and social media posts, and then build a sentiment analysis model. This model assigns the probability of a risk activity to the entities mentioned in the article.
We tried four different natural language processing tools for sentiment analysis, namely VADER, Word2Vec, fastText and BERT models. After evaluating these models with selected key metrics (recall rate, accuracy, and F1), the RoBERTa model (a variant of BERT) performed best and was selected as the final model.
Image Source:
The RoBERTa model processes the text of news articles (titles and excerpts) or social media posts and assigns a risk score to specific text. Since this text has been marked as an entity during the data collection process, we now have relevant risk indicators for encrypted entities. In the later stage, we combine the risk scores of multiple texts to give an entity’s overall risk score.
RoBERTa was originally a sentiment analysis model built using a neural network structure. We mapped the last layer with our labeled risk score to adapt to the risk score environment. In order to improve the versatility of the model on future text data, we have carried out several text processing methods, namely replacing entities, deleting urls and replacing hashes. Then we use this best performing model to score the risk.
Now, every article has a related source (news/reddit/twitter), a risk probability and a count, which refer to the number of times the article has been reposted, shared or reposted. In order to convert these risk probabilities into a single risk score of a cryptocurrency entity, we first scale the probability value of the article to a range of 0 to 100, and obtain a weighted average of each source, combining the risk score and count of the article. The weighted average is used to give greater importance to articles with higher counts, because the number of shares is likely to indicate the relevance or importance of the article.
After calculating the risk scores of each source, we weighted and sum the risk scores of each source to obtain a comprehensive score, the formula is as follows:
Traditional news sources are given higher weight because these sources are more likely to report major security breaches (as opposed to hacking incidents by individual users).
We tested our solution on a list of 174 cryptocurrency entities from January 1, 2020 to October 30, 2020, and compared the results with known hacking cases during that time period. We found that our risk scoring method performed quite well, identifying 32 out of 37 known hacking cases. We also analyzed the effectiveness of our solution for a single entity. The figure below shows Binance’s risk score from January 1, 2020 to October 30, 2020. The dashed red line represents known hacking cases. From the graph we observe that our solution reported an increase in risk scores for 4 of the 5 known hackers. There are also several peaks that are not consistent with known hacking cases. However, this does not constitute a major problem, because for our model, it is more important to identify as many hackers as possible and reduce the number of unidentified hackers.
In the risk scoring process, we noticed that compared with smaller entities, the risk scores of larger entities tend to have a larger proportion of false positive records. This is because large entities are talked about more, so there will be more negative posts and false rumors, leading to higher inaccuracy rates.
Another interesting trend worth highlighting is that there are usually several obvious peaks surrounding hacker attacks. This is due to the different response times of different data sources. Social media sites Twitter and Reddit are usually the first to see peaks when high-risk events occur, because users will post anomalies they observe, such as an entity’s website going down without prior notice to users. Official news is generally released after the official announcement.
We found that our solution has two potential limitations. The first is the need to constantly maintain the collector. The website design may change over time, and the scrapers of these websites need to be updated to ensure that relevant information can still be retrieved to achieve the purpose of risk scoring.
The second limitation is that it is challenging to verify that an article has been correctly labeled as a cryptocurrency entity. For example, an article reporting suspicious Bancor activity may also mention Binance because of an unrelated incident. Our solution would incorrectly mark news as two entities and Binance as risk, even if it is not a key topic in the text. However, this is not a major limitation because we only use the headlines and excerpts of news articles for risk scoring, which usually contain only the key information of the article.
Our project allows regulators to easily mine open source information and better identify risk events in the cryptocurrency field. We provide a language model that analyzes articles and predicts risk scores, as well as methods to aggregate these scores based on entity and source information. These methods are woven into an automated pipeline that can run end-to-end. Integrating the project into the Cylynx platform will complement its existing functions and provide great help for regulators to identify high-risk cryptocurrency entities.
In the middle of this year, the much-anticipated Telegram had to reach a settlement with the US SEC, returning $1.2 billion to Telegram Open Network investors and paying a fine of $18.5 million. U.S. securities laws have always been the sword of Damocles hanging on all cryptocurrency projects, and the long-standing “cooperative” model may provide a way out for the cryptocurrency founding team to learn from.
Written by: Jesse Walden and Connor Spelliscy, the former is the founder of crypto venture capital firm Variant Fund and former partner of a16z, the latter is the partner of broadband network venture capital firm Connectivity Fund Compilation: Lu Jiangfei
By progressively decentralized way, many successful startups encryption money into a project or user agreement owners, many of the founding team aim to do is worry about their issue of tokens will be treated as securities regulators Therefore, it was forced to “force” to withdraw when the project/protocol token was issued.
Another option is that the founding team of an encryption project can build a platform on its own to create a democratic structure based on ” members co-ownership ” so that they can confidently participate in the token issuance. This method allows the founding team to Improve the rights and interests of stakeholders, community decision-making capabilities and product quality at the expense of leadership.
When a cryptocurrency project enters the token issuance stage, the founding team often feels “uneasy” and sometimes has to choose to withdraw from the project. The reason for this phenomenon is mainly because they worry that after continuing to participate in the encryption project, regulators may treat the relevant tokens as securities, which will increase regulatory risks.
So, what are the potential problems if the founding team continues to participate in cryptocurrency projects? In fact, if token holders obtain expected profits from the management or entrepreneurial efforts of others, such tokens may be considered securities. Therefore, if the regulatory agency discovers that the tokens purchased by the token holders are expected to ” profit from the efforts of the founding team “, then the tokens issued by the relevant project will be considered securities.
In order to avoid such risks, the cryptocurrency founding team often distances itself from the “specific part” of the project. The main measures they take include:
Some encryption currency founding team will choose to exit the project, and provide tools for open-source community, which provides for the right to lead a center of opportunity, but also a commendable way, because decentralized control and ownership of the network and encryption An important principle of the ownership economy . But the problem is that once the founding team leaves the project, users will also lose, such as:
We believe that policymakers may prefer the founding team to continue to participate in the governance of encryption projects, so as to not only provide help and support to consumers, but also meet the regulatory goals of protecting consumers. But the problem is due to the regulatory body has not been given clear guidelines, many of the founding team ultimately chose to give up to participate in the project.
In fact, if the cryptocurrency network adopts the ” cooperative ” model of co-ownership, co-operation, and benefit-sharing, they can be assured of issuing tokens and decentralizing ownership, while continuing to ensure their leadership in the development of the project. Don’t worry about whether it will violate securities laws and regulations.
It should be noted that this model is not suitable for all cryptocurrency project founding teams! In most cases, this mode does not even work properly!
Of course, many cryptocurrency networks have unknowingly adopted this “cooperative” model, or their methods actually have a lot of similarities with the “cooperative” model. One of the biggest benefits of this model is: the founding team communicated to the user is control / ownership, rather than securities. If the “cooperative” model of the cryptocurrency network is not very obvious, then the founding team should consider certain trade-offs and decide whether to make their crypto network more similar to the “cooperative”, which also means that they can issue tokens after we continue to play a leadership role in the project, or continue to make a meaningful contribution to the project.
To this end, the founding team must be committed to integrating the values and processes of the “cooperative” into their project structure (though they do not necessarily need to be legally merged into an organization similar to a cooperative). Regulators are usually more concerned when assessing the “securities” economic realities, rather than too much emphasis on form, so when they review the project will focus on monetary items to consider whether encryption attempt to use “cooperative” mode.
In fact, after several iterations, the organizational structure of “co-op” mode is relatively mature, will basically give priority to collective interests and stakeholders involved.
In this article, we will focus on US law and the “cooperative” model, but for the cryptocurrency founding team, the advantages of similar organizational structures in different jurisdictions must also be considered. For example, Nexus Mutual has transformed its decentralized insurance alternative organization into a ” discretionary mutual benefit society “, which is a common “cooperative” model in the UK and Australia, but there is no similar organization in the United States. .
In addition, the article does not provide a comprehensive legal analysis, but will “co-op” mode is seen as an alternative mechanism, and hope to discuss issues related to encryption currency team and consultants. If you think this structure is useful, you need to have a deeper understanding and discussion with a lawyer who is familiar with blockchain law and related organizational structures.
A cooperative is an autonomous association of one kind by an individual ( “Members”) a voluntary basis through a jointly owned and democratically controlled by the enterprise (enterprise) to meet their common economic, social and cultural needs and aspirations.
Different from the traditional share ownership model, the income distribution of the members of the cooperative is not proportional to the initial investment of these members, but is determined by their labor, hard work and success in the cooperative. This method is also called ” mutual benefit.” “. The more members “visit” the cooperative, the more services they receive, and the more cooperative income is distributed to these members.
Cooperatives can be similar to traditional enterprises because they are very similar in certain functions and practices, such as:
There is not much red tape to create a cooperative. Take the United States as an example. You can register and establish it according to the laws of each state, or you can operate as an unincorporated association. In terms of cooperative governance, some state governments in the United States have performed very well, such as Wyoming and Minnesota.
Currently, the market the two most common forms of cooperatives are: consumer cooperatives and producer / marketing cooperatives.
It is worth mentioning that, although there are many similarities between the cooperatives and traditional enterprises, cooperatives, but there is a fundamental difference in the ownership / control and distribution of benefits and traditional enterprises, these differences are mainly the following:
When analyzing whether encrypted tokens will be classified as “securities”, why does the “cooperative” model provide a useful framework?
“Ownership” involving cooperatives will not be considered securities.
On the cooperative ownership, the United States there are two more well-known cases, one is the United Housing Foundation, Inc. prosecutions Forman and the other is B. Rosenberg and Sons, Inc. sued St. James Sugar Cooperative case, Inc.’s. According to the final rulings of these two cases, U.S. law will not consider tokens that represent membership or similar ownership of stocks in cooperatives as securities. In both judgments, the court held that the ” stock “and not within the scope of the definition of securities.
In reviewing these two cases United Housing and B. Rosenberg prosecution, a legal industry commentator pointed out: “the” Securities Act “that members of the cooperative are unique, even though names and forms with the Securities somewhat similar, but by establishing the principle of cooperation The relationship is the real reason for the regulatory authorities to identify and exclude investment instruments from the identity of securities.”
In the United Housing lawsuit, the U.S. Supreme Court ruled that the “stocks” that give buyers the right to reside in a housing cooperative are not securities. The reason for this decision is partly because these “stocks” do not have the characteristics associated with stocks in the traditional sense, and these so-called “stocks” cannot be transferred to non-lessees , nor are they allocated based on the number of shares they own Voting rights, and more importantly-these “stocks” cannot appreciate. In addition, cooperatives do not want to seek and attract investors. On the contrary, they emphasize that the nature of cooperatives is ” non-profit .”
In the B. Rosenberg lawsuit, the U.S. Supreme Court ruled that the “stocks” in the cooperative marketing agencies were not securities, partly because such “stocks” were not transferable, did not pay dividends, and each member could only vote once. In addition, the court ruled that another reason for the present case “stock” is not securities, securities trading is considered to have a significant feature, namely: Investors only by the prospect of a third party efforts to obtain return on investment driven, but if the transaction is a purchase For a desire to “use the purchased goods,” the Securities Law does not apply to such transactions.
The U.S. Supreme Court referred to the ” Howey Test ” in both lawsuits and found that the investment in the cooperative did not reflect the capital investment in the joint enterprise (the profits of the joint enterprise were entirely derived from the efforts of others), and the development of the cooperative direction depends entirely on their own efforts to co-op members. In fact, the members of the cooperative have an appropriate degree of control over the organization (that is, the desire for profit depends on the efforts of the members themselves, not the efforts of others), so it also proves that the things they invest in are not “securities.”
If you want to know more about the judicial treatment of ” other people’s efforts ” in the Howey test, you can refer to Foxfield Villa Associates LLC’s lawsuit against Robben. This case also discusses the issue of limited liability companies (LLC) and some key conclusions of the Schaden Test. And usage actually applies to cooperatives.
Money may not need to encrypt network formally became cooperatives to benefit from favorable “treatment than securities.”
Cryptocurrency projects may not need to be merged into cooperatives in order to benefit from the favorable “non-securities treatment” provided to cooperatives by the court. In fact, encryption currency project may only need to have some of the elements to merge the cooperative structure, these elements make money selling on behalf of the economic substance of (economic substance) is similar to the economic substance of cooperative shares.
B. Rosenberg in the lawsuit, the US Supreme Court held that the scope of the word clear “securities”, it should first of all be ignored its name or form, but to focus on economic realities (economic reality). Courts and regulatory agencies often discuss and apply this principle in the context of cryptocurrencies. For example, when discussing cryptocurrencies, the US Securities and Exchange Commission official William Hinman once stated: “…I acknowledge that the Supreme Court has He admitted that if someone just for consumption and purchase of assets, then this probably is not an asset securities …… However, the economic substance of the transaction will always depend on the legal analysis, rather than a label. “
As we said in the previous article, this article is definitely not to provide a comprehensive legal analysis. If you think the structure of cooperatives is useful, you need to have a deeper understanding and discussion with lawyers who are familiar with blockchain laws and organizational structures. Others are welcome to join in and learn more about related topics.
For the founding team of cryptocurrency projects that issue tokens, they should consider whether their organizations have enough functions to merge or have merged into cooperatives in order to benefit from this unique structure and “non-securities treatment”. In this case, the token holders will be entitled to membership in the network, a certain amount of interest in the use of cooperatives and / or other benefits. So, how do we use certain functions of cooperatives in cryptocurrency projects? In response to this problem, some brief discussions will be made below:
The democratization of decision-making can take the following two measures:
Many encryption currency network has allowed token holder is contributing to network management, decision-making power but these tokens are usually proportional to the number of holders of some tokens with their holdings, rather than giving each person / entity equal voting rights , Regardless of the number of tokens they hold.
Although there is a certain democratic decision-making, but when effective leadership election of the members of professional, cooperatives can still function effectively in their daily roles may be similar to company executives. If the founding team of a cryptocurrency project wants to continue to assume a formal leadership role, it can take the following methods, such as:
Cooperatives may also need some form of KYC protocol, so that you can verify the user’s unique personality (KYC may also be effectively addressed other governance issues, such as Sybil attack).
Limit the transfer of tokens and focus on token utility, not price
Encryption currency project can transform organizational structure, you can begin marketing, this token holders will not only expect to profit by tokens, but you want to be excited to receive related services through the purchase of tokens. In addition, tokens should be non-transferable (except non-members of the cooperative but intend to use the services of people), this feature in fact been instances, such as DeFi insurance program Nexus Mutual, the project will be a number of decentralized Exchange (DEX) and automation Market maker (AMM) included in the white list, these decentralized automation market makers and exchange members only to authenticated transactions. Presumably, this model can expand liquidity as the network scale and membership base expand.
In the Union Housing and B. Rosenberg cases mentioned above, the U.S. Supreme Court held that the “stocks” representing the rights and interests of cooperative members are not securities, partly because these “stocks” cannot appreciate (at least not financially). And it can only be transferred to other people who actually use the services of the cooperative. But in reality, the value of the assets held by the cooperative is unlikely to remain stable, and changes in value will eventually be passed on to the members of the cooperative.
Another basis for judgment is whether it is possible for token holders to gain income from the behavior of “buying tokens”, but this is actually very easy to judge. The U.S. Federal Court has realized that the “stocks” of cooperatives are not necessarily a kind of securities. Although the value of the “stocks” of cooperative members may increase and make them profitable, the possibility of obtaining income may be the same as that of “members from cooperatives.” access to goods and services in the core purpose of “relevant. Not only that, the US Securities and Exchange Commission’s regulatory attitude in this regard is actually relatively clear. They have already sent ” no action letters ” to several cooperatives whose “stocks” have the ability to appreciate or depreciate. This also means that they will not deal with these institutions. Take enforcement action.
However, limiting the transfer tokens, tokens focus on practicality rather than price, does not rule out two things:
For example, in DeFi Nexus Mutual insurance program in which there is a clause in the charter business requirement that: when considering the interests of all members, not Nexus Mutual profit before closure, but individual members can be achieved by Nexus Mutual transaction Profit from underwriting on the platform. On average, members who purchase insurance may experience losses, while members who choose to underwrite profits. Overall, the entire project did not achieve profitability.
Obviously, examples of Nexus Mutual description: relative to other assets, if the assets held by the cooperative itself has value (for example, cooperatives hold ETH, while the dollar prices have increased ETH), then the members can benefit from the collective.
Many network encryption currency has been allowed to change this principle, such as tokens allow holders to be compensated by mortgage loans or tokens. In the cryptocurrency industry, one of the best examples of distributing proceeds to token holders based on their sponsorship of the network may be UMA ’s Developer Mining. In this case, development Participants can get rewards based on the total lock-up amount of the financial contract they designed. In other words, developers will be based on their use of the network to get the reward.
For cooperatives, the encryption technology actually provides an opportunity to improve the traditional way of sponsorship. For example, it is easier for the cryptocurrency network to track user behavior and timely launch tokens with inflation characteristics, aiming to reward those members who use tokens earlier.
Contributions by members of the cooperative (Crowdfunding “distant relative financing mode”), debt financing and the sale of preferred stock to raise funds, such as Nexus Mutual funds can be raised through the sale of its NXM tokens to members, these members can use these tokens to use intelligent contract, on the one hand can enhance intelligence coverage of the contract, on the other hand can also enhance market participation. However, financing methods similar to Nexus Mutual have not been tested in the United States, but it is encouraging that there are already some promising cooperation models that are leading innovation in the digital age.
In determining whether to encrypt the money will be identified as “securities” this problem, disclosed to the token holder transparency and consistency of project information may be encrypted currency founding team is also advantageous, and provide consistent information disclosure project It is actually very convenient for open source encryption projects.
In 2012, Minn-Dak Farmers Cooperative successfully applied for a “No Action Letter” from the U.S. Securities and Exchange Commission. The lawyers of the cooperative believed that the reason why regulators agreed that Minn-Dak Farmers Cooperative was exempt from securities registration was partly willing to do so because they had already provide sufficient information to members.
In addition, the U.S. court will use the Schaden Test when assessing the ” efforts of others ” in the Howey test. One of the most important factors in this test is to see whether investors have ” access to information. ” Encryption monetary items disclose information more readily available, the easier it is to prove tokens are not “securities”, because the main purpose of the “Securities Act” is to protect investors by promoting full disclosure of the information needed investment decisions.
For further discussions on cooperatives and cryptocurrencies, please refer to the previous article ” Past, Present, and Future: From Cooperatives to Encrypted Networks ” by the author of this article, Jesse Walden.
The content of this article is for reference only and should not be used as a basis for legal, business, investment or tax advice. Regarding these issues, you should consult your own investment advisor. The references to any securities or digital assets in this article are for illustrative purposes only and do not constitute investment advice or an offer to provide investment consulting services.
#bitcoin #crypto #cryptocurrencies
Looking to buy crypto and earn interest? 📈➡️ https://digifox.finance
💹 Interested in our newsletter, the DashReport?http://nicholasmerten.com/dashreport/
Check out BlockDown2020: https://blockdownconf.com/
Want to support my channel and get great perks? 💚➡️ http://patreon.com/data_dash
———————————————————————————————————-
If you want me to be able to contact you in case of further issues, here’s our email list: https://forms.gle/ADorNSFkkGbggJHY6
What are your thoughts on what we discussed? Feel free to leave a comment below! Thank you all so much for watching the video. If you enjoyed the video, please consider dropping a like, subscribing, and ringing the bell icon.
Email List: https://forms.gle/ADorNSFkkGbggJHY6
———————————————————————————————————-
Want to support the channel? Here are some ways how:
———————————————————————————————————-
Want to find some awesome tools to get started in crypto and finance?
👨💻⭐Check out my recommended products: https://www.cryptoatlas.io/NicholasMerten
📈 Want to trade crypto or earn interest? My top choice is Digifox: https://digifox.finance
🙋♂️ Want to buy crypto? Get started with Digifox: https://digifox.finance
🤝 Want to trade OTC? Caleb & Brown is my personal favorite to get started: https://www.calebandbrown.com/open-account?referrer=datadash
🏨 Want to save up to 40% on your hotel booking? Try Travala: https://www.travala.com/ref/53EB41
📝 Looking to file your crypto taxes? Check out TaxBit: https://app.taxbit.com/invite/DataDash/
💹 Interested in price data? Check out CoinMarketCap: https://cutt.ly/IyOwLqz
Want to donate crypto? Here’s our addresses:
NANO: xrb_3y7qi1z5kcpgi9cnk4bctus155qntiy1cszfmeh9zg7eqqqjb9imebsqf33t
BTC: 14DHXJa9CgeBPf6m7UeMKE9yzAYFKPW2nV
ETH: 0xa34d3461ae04953489e9aa464689c022836751d0
———————————————————————————————————-
Join our community channels!
———————————————————————————————————-
Telegram Alerts | https://t.me/Data_Dash
Telegram Discussion | https://t.me/datadash
Discord: https://discord.gg/S7MtTcB
———————————————————————————————————-
👥 For advertising, consulting, speaking, or other business inquiries
reach out to us at: http://nicholasmerten.com/advertising/
Alternatively, feel free to reach us at: contactdatadash@gmail.com
———————————————————————————————————-
WARNING:
*I WILL NEVER PURSUE PROJECTS THROUGH TELEGRAM OR OTHER SOCIAL MEDIA OUTLETS. CONTACT MY EMAIL LISTED BELOW FIRST AND THEN VERIFY MY IDENTITY THROUGH A VIDEO CALL BEFORE MOVING FORWARD. THERE ARE MANY SCAMMERS IN CRYPTO. EMAIL SPOOFING IS RAMPANT, SO VERIFY MY IDENTITY THROUGH VIDEO*
*BEWARE OF SCAM COMMENTS REQUESTING YOU TO SEND FUNDS. THESE ARE IMPERSONATORS, AS WE WILL NEVER REQUEST YOU TO SEND PAYMENTS*
Disclaimer: Statements on this site do not represent the views or policies of anyone other than myself. The information on this site is provided for discussion purposes only, and are not investing recommendations. Under no circumstances does this information represent a recommendation to buy or sell securities or digital assets.
The development of blockchain applications will shift from a single technology to multiple technology integration. The combination of blockchain and multi-party computing can build a safer and more flexible digital infrastructure base.
Title of the original text: “Multi-party computing-opening up a new scenario for blockchain applications”
Written by: Du Ning, Chen Xi Source: Learning Times
Nowadays, major countries in the world are accelerating the development of blockchain technology. To ensure that my country occupies the commanding heights of innovation in the blockchain field, it is necessary to accelerate the deep integration of blockchain and related cutting-edge information technologies to promote integrated innovation and integrated applications. As my country’s independent and original innovation technology, multi-party computing can enable multiple non-mutual trust databases to perform efficient data fusion calculations under the premise of mutual confidentiality of data. Its effective combination with blockchain technology will accelerate the implementation of blockchain scenarios and promote my country’s regional Blockchain application development.
The next stage of blockchain application development should complete the following two transformations: First, a single technology shifts to a comprehensive application of multiple technologies. Blockchain technology is more closely integrated with new-generation information technologies such as cloud computing, artificial intelligence, 5G, and the Internet of Things, and initially forms a “blockchain+” application solution. For example, “blockchain + cloud computing” based on cloud resources can create a simpler and more efficient blockchain cloud environment, and can provide an integrated operation and maintenance solution for deployment, operation, and monitoring, reducing the barriers to use of blockchain; “Blockchain + artificial intelligence” enhances the ability of blockchain to support complex businesses and expands the use value of blockchain. “Blockchain + 5G + Internet of Things” provides efficient data collection capabilities for the blockchain, and can greatly increase the data transmission speed, reduce network congestion, and greatly improve the performance of the blockchain. In the future, a solution combining blockchain and multiple technologies will completely replace a single technology and become an important engine for technological innovation and development.
The second is the transition from a single scene to multi-scenario fusion applications. Blockchain technology has now expanded from the financial field to government affairs, medical care, education, logistics, food safety and other fields, and has also shown value in cross-industry scenarios. For example, “Government + Finance” uses blockchain to open up data sharing channels between government departments and financial institutions to realize the transparent use and effective supervision of funds. In the future, the integrated application of blockchain in cross-fields and multiple scenarios will also reshape the current social business model and become an important driver of the industry wave.
As the scope of blockchain applications continues to expand, four issues have gradually emerged: First, the issue of data privacy protection. Blockchain’s current privacy protection technology is at an early stage of development, and there are still many risks of privacy leakage. The second is the limitation of performance efficiency. The operating mechanism of the blockchain relies on a large amount of real-time data communication. With the expansion of data volume, the number of nodes on the chain continues to grow, and the system performance and processing efficiency of the blockchain will also directly affect its further commercial popularity. The third is the challenge of getting data through on-chain and off-chain. At present, the data on the chain is limited, and it is necessary to get through with the off-chain system to solve the problem of information islands. At present, on-chain and off-chain collaboration technologies at home and abroad are still in the early research stage. The fourth is the authenticity of the data on the chain. Blockchain can be technically difficult to tamper with, but how to ensure the authenticity of its data on the chain is also a major problem in current blockchain applications.
Multi-party computing theory was first proposed and founded by Turing Award winner Academician Yao Qizhi in the 1980s. It is China’s original computer technology. Its outstanding feature is that it can achieve data calculations in ciphertext and can get the same as plaintext calculations. the result of. In the past two years, with the major breakthroughs and improvements in algorithm and engineering design, the initial commercialization of multi-party computing products has also provided new solutions to the bottleneck of blockchain application development.
The advantages of blockchains that are difficult to tamper with and traceable, combined with multi-party computing, can realize the strengths of data “available and invisible, and used in accordance with the prescribed use and amount”, and can realize data privacy protection, data storage, data verification, joint computing, and joint Various functions, such as modeling, open up a new situation in blockchain applications.
“Blockchain × Multi-party Computing” solves the problems of privacy, cross-chain collaboration and performance efficiency on the chain. Blockchain recording and storage technology solves the problem of fraud that often occurs in data flow in the traditional model, but because multiple nodes participate in the data verification, storage and maintenance of the blockchain system, the risk of data privacy leakage increases. Combining multi-party computing technology can effectively deal with the problem of data privacy leakage. For specific applications, for example, in the field of government affairs, government data on the chain helps promote data sharing and circulation. However, some highly sensitive information in government data directly on the chain is very likely to be intercepted by criminals at a single point of attack, so by combining multiple parties Computing technology, related processing of sensitive government affairs data before uploading to the chain, using contract to place data authorization, usage and consumption control and other business approval authority on the chain, and off-chain data privacy calculations and data through a multi-party computing platform Results feedback. Such a model can effectively solve the problem of privacy leakage of sensitive data on the blockchain, and this method also solves the problem of multi-node consensus behavior caused by a large amount of data on the chain affecting performance and efficiency, and also reduces the storage cost of data on the chain. In addition, when the government data is called for calculation, if it involves off-chain or cross-chain data, the latest technology of multi-party computing-plain and cipher text collaborative computing technology can be used for fusion calculation, which also provides an effective way for the on-chain and off-chain data to connect. solution.
“Blockchain + Multi-party Computing” verifies the authenticity of data on the chain. Through blockchain technology, the consistent storage of data and the difficulty of tampering can be achieved, which greatly increases the difficulty and cost of data fraud on the chain, and also eliminates the concerns of most people and institutions about data credit. However, blockchain technology alone cannot guarantee the absolute authenticity of the data on the chain. By combining multiple calculations, the authenticity of the data on the chain can be effectively verified from the information that is difficult to obtain on the current chain. For specific applications, for example, in the field of financial supervision, financial institutions upload relevant transaction data to the blockchain to facilitate the review and analysis of on-chain data and behavioral supervision by regulators. However, some large amounts of high-risk transaction data are not detected by regulators. It is very likely that the modification was made before the chain was launched. In order to avoid the spread of industry risks caused by the falsification of financial transaction data, the regulator can obtain relevant data from the counterparty of the transaction information provided by the financial institution or upstream and downstream industries through multi-party computing technology, and then contact By analyzing and comparing the transaction data on the chain provided by financial institutions, you can discover in time whether financial institutions have falsified transaction data, thereby effectively enhancing the penetration and professionalism of financial supervision.
“Multi-party computing + blockchain” realizes data traceability and supervision. Multi-party computing provides effective solutions for blockchain applications, and blockchain also provides a beneficial supplement to the implementation of multi-party computing applications. For example, multi-party calculations use the ciphertext calculation mode to ensure that the data calculation participants cannot see the data of other parties. If the participants maliciously enter the wrong data, the overall calculation results will be affected. The data participating in the calculation and the calculation process are verified through the blockchain. Encrypted storage of evidence can effectively track malicious input, and it is also conducive to the effective supervision of sensitive data circulation and fusion computing scenarios by the regulatory authorities. Multi-party computing has created a new realm of blockchain applications, and the close integration of the two will produce more positive effects that promote each other, providing important support for digital social governance, transactions, and digital economic development.
Based on blockchain and multi-party computing fusion technology, a safer and more reliable data sharing and circulation platform can be created, and information asymmetry can be reduced, so that social governance organizations can obtain more accurate, higher-quality, and more comprehensive social behavior information in a timely manner, so that society can Governance has become fairer, more flexible and more efficient. At the same time, it can also help regulators to effectively dig out the risk trends hidden in massive data, realize early risk identification, early warning, early detection, and early disposal, so as to better improve the existing regulatory system and increase the risk of new technology application The ability to control, promote the regulatory agencies to realize from “ex post supervision” to “real-time supervision”, from “bypass supervision” to “active intervention.”
At this time, the combination of blockchain and multi-party computing can effectively promote the confirmation and circulation of data. The blockchain technology enables the confirmation of data ownership, and the multi-party computing technology separates the visible value from the use value of data, which protects data privacy at the same time. It allows the use value of data to be traded and provides key technical support for more data resources to become tradable assets. Blockchain and multi-party computing can also promote the development of the data transaction market. Blockchain technology can increase the fairness and transparency of data asset transactions, and multi-party computing technology can regulate the use and consumption of data, avoid data abuse, and accelerate the realization of data value. , Lay the foundation for my country to accelerate the cultivation of the data element market.
In short, the combination of blockchain and multi-party computing can build a safer and more flexible digital infrastructure base. Based on this base, it can be organically integrated with a variety of new-generation information technologies such as big data, artificial intelligence, 5G, and the Internet of Things. Stimulating the application potential and value of new technologies will also give birth to a new data industry ecology, promote the deep integration of data and industries and innovative applications, and effectively promote the high-quality development of the digital economy.
Source link: mp.weixin.qq.com
Bitcoin poses a serious challenge to traditional currencies as the world’s first cryptocurrency. However, considering its price history, there should be a lot of volatility along its path.
Below are four steps that will help you trade Bitcoin:
Bitcoin can be dealt with in two ways: buying the Bitcoin itself and hoping to sell it at a profit or theorize on its value without ever owning it. CFDs work in the latter sense. What a CFD does is enable you to deal with a contract that is constructed on the prices in an underlying market. This is a purchased product, which means that you need to initially put down a small deposit and again disclose a much more prominent position. This can appreciate your profits. It should be noted, however, that it has the same effect on your losses.
When trading Bitcoin, do I need to use an exchange?
To take a position on the price of Bitcoin, what you need is an IG trading account. However, when you deal with bitcoins CFDs, you do not interact directly with an exchange. As an alternative, you trade the sell and buy prices sourced from a couple of exchanges on your behalf.
Same as traditional exchanges, Bitcoin exchanges work the same way. This enables investors to purchase the cryptocurrency from or dispose of it to another person. There are some advantages when you cut them out of the picture entirely.
Their service and matching engines are unreliable. This can result in reduced execution precision or shelving of markets.
They inflict restrictions and fees on the withdrawing and funding from your exchange account, while accounts can take long periods to acquire.
When you trade Bitcoin CFDs, you acquire considerably improved liquidity at the touch price you’ve chosen. When you sell and buy from the exchange directly, you will have to accept multiple prices to finalize your order.
The volatility of Bitcoin makes it an attractive opportunity and dealing with cryptocurrency. Due to the Bitcoin market operating continuously, this can happen at any time of the day. Bitcoin is free from the various political and economic concerns that influence the traditional currency. However, due to its young age, there remains a lot of uncertainty uniquely based on the fact that it’s a cryptocurrency.
Any of these factors can impact its price suddenly and significantly, and for this reason, you need to research and know-how to navigate these risks that may come up.
Bitcoin supply
Even though there are a limited number of bitcoins, the last Bitcoin will be mined in 2140. However, the availability of Bitcoin changes as to how they enter the market. For example, their holders’ activity, dealing with them in Bitcoin slots, also affects this availability.
BTC market cap
The Bitcoin market value is recognized to be both an impactful and opportune because traders will want to jump on a surging opportunity, or not.
Industry adoption
What remains to be seen is the impact Bitcoin will have on the corporate stage as it is yet to be accepted generally by most businesses around the world.
Day trading
When you day trade, there is a need to take a position that considers an accidental movement in the short term. It would help if you also closed it out by the end of that specific trading day. This is an effective strategy if you desire to acknowledge opportunities in the short term in the Bitcoin market. This is in light of emerging patterns or developing news.
Scalping
This is when you place intraday traits frequently one small movement in price.
This is a worthy strategy if you desire to place yourself in a position to form continuous but small profits. This is when you do not want to wait for a significant breakdown or break out.
Swing trading
This is when you capture trends the moment they are made and clutch on to that position up to the point the trend shows the signs of a reversal or runs its course.
This is the preferred strategy for you if you decide to take advantage of this chance from market momentum.
Automated trading
It is advisable to automate your processes in trading and react to changing market conditions on your behalf.
This strategy is best used if you consider yourself a passive trader.
Open an account
You will need an IG trading account if you want to trade CFDs. It is an easy task to do, and you can go ahead and take your first position when you have added funds to your account.
Establish a trading plan
It is always a smart move to establish a trading plan. This works hand in hand with your chosen trading strategy. If you’re new to the market, you need to consider having these two. A trading plan will assist you in making objective decisions regardless of the stakes being high. This mixture that you do not leave trades open for long or close them early.
Do your study
To understand what’s next for the cryptocurrency price, you need to do your research and speed with the latest Bitcoin news. It is essential to do this before you start on your trading journey.
When you are looking up to interpret how Bitcoin behaves, charts are an important tool. Past data is an excellent indicator of how the market is progressing. The comparison of time frames can also provide better insight as to the emerging patterns and trends.
Place a trade
Using a web trading platform, you will be required to place a trade once you have decided on your position.
You need to enter the deal tickets the amount you have decided to stake on your trade.
While you do this, you have an option of defining your clothes conditions: you can set a stop to terminate your position when the market is not in your favor up to a certain amount or a restraint for when it’s move is in your favor. Always check yourself; limits and stops are important to sound risk management.
Note that, if you anticipate Bitcoin to appreciate, you then ‘purchase’ the market. If you believe that it will depreciate, you will ‘sell.’
To finalize your position, you need to place the reverse of your initial trade. This means that if you purchased at first, you’d have to sell the same amount;
If you had sold, you would not need to buy it. You will be required to click sell or buy to finalize your trade as your deal ticket is automatically filled.
References
Disclaimer: This is a paid post and should not be considered as news/advice.
SINGAPORE, Sept. 7, 2020 /PRNewswire/ — Keeping in sync with its drive for change, Bithumb Global has launched BG Learning—a platform that aims to enable new investors to learn more about specific projects before investing in them. To spice up the entire process, the platform has introduced a reward system that incentivizes participants with project tokens for their progress. With BG Learning, the platform has yet again proven its penchant for making blockchain easier and more lucrative for those who want to invest in it but are always held back due to the lack of knowledge. It is filling this gap now through the BG Learning platform which would reward users for learning.
How Does BG Learning Work
BG Learning is an interactive platform which has more than one positive consequence. The platforms holds a number of Q&A sessions for users to learn more about blockchain ventures. This way, new investors can save themselves from frauds and making decision errors. By answering as many questions based on the project truthfully, users stand to earn project tokens as rewards. Secondly, projects would also benefit from the opening of new sources of discussion around them. Thus, it is a win-win situation for both investors and blockchain projects.
Past Project Performance Due to BG Learning
Bithumb Global’s BG Learning platform has launched two successful seasons where thousands of users have participated. This has led to popularization of projects on the Bithumb Global platform leading to rise in their token price and handsome returns for participants.
For example, the OM token of Mantra DAO project rose 15X with 18,000,000 OM being sold out in two days. The CREDIT token saw a more than 3X surge after listing on the Bithumb platform and is currently trading at more than 2X listing price. The project got more than 463,000+ votes on BG Learning and the staking interest for the project was 88%. The SXP token from Swipe project witnessed a 5X growth after being listed on the platform.
About Bithumb Global
After more than six years since its launch in 2014, Bithumb is the largest cryptocurrency exchange in Korea. By 2017, it recorded the most traded volume in the world. Today, Bithumb is a vast blockchain ecosystem with fourteen partners from around the world. Bithumb Global, from the Bithumb family, has three markets including BTC, ETH, and USD. It has over 80 listed coins and provides its expansive services in staging, staking and C2C areas. With platforms like BG Learning, it aims at creating an even bigger ecosystem of new players by arming them with the understanding of the blockchain world.
Photo – https://photos.prnasia.com/prnh/20200907/2906272-1
SOURCE Bithumb Global
WWW.BLOCKCAST.CC 