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NeuroChain Expands and Delivers

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With the scheduled release date of the main NeuroNet is just around the corner, NeuroChain is progressing considerably by forming key partnerships and expanding their global presence. NeuroChain is led by Frédéric Goujon, CEO, and Dr. Billal Chouli, CTO, and is supported by a team of dedicated advisors and industry experts who are working to develop the NeuroChain protocol and prepare for its imminent launch. The NeuroChain headquarters, located on Avenue des Champs-Élysées in Paris, France, is at the forefront of the next generation of the blockchain. Apparent issues with the current state of the blockchain have prompted the innovation of the NeuroChain protocol.

“The current generation of blockchain still has three major issues,” Bruno Delahaye, the company’s Chief Growth Officer, explains in an interview. The current blockchain consumes too much energy, takes too long to validate transactions, and has limited agility or scalability. “It’s now time to come out with a new generation” Delahaye continues “by integrating artificial intelligence and machine learning to recreate the way blockchain is deployed and implemented.” The NeuroChain protocol will consume less energy, validate transactions nearly instantaneously, and be scalable to work across world-wide systems.

The Current Market Situation

It is a well-known fact that the crypto market is filled with uncertainty and volatility. The sudden 65% drop in the price of Ethereum two weeks ago has investors scrambling for answers. However, the current downward trend in token prices is not necessarily a negative sign, Delahaye points out. The price drop is the way that the market naturally cleanses itself from undisciplined companies and companies that do not present value to investors. Companies who have inappropriately dispensed ICO funds will suffer, while companies who have demonstrated financial discipline will persevere through this temporary downturn.

NeuroChain’s Chief Financial Officer, Guillaume Bailly, has taken a disciplined, strategic approach since the beginning. NeuroChain’s current financial model accounts for market volatility, and the company is still on track to deliver value to its clients. In accordance with the company’s whitepaper, which lays out a clear, achievable roadmap, NeuroChain plans to release the first test net in October to power initial business applications. The NeuroNet is still planned in January 2019. Furthermore, NeuroChain’s ongoing business development efforts have resulted in two new partnerships.

Tai Cloud Corporation

Tai Cloud Corporation Technology Co. Ltd. is a major Chinese-based organization promoting the blockchain throughout Asia and Africa, and it has strong relationships with municipal governments throughout the People’s Republic of China. Since the overall power and utility of the NeuroChain protocol is derived from the large number of nodes connected to the system, partnering with Tai Cloud Corp. is a strategic move aimed at expanding NeuroChain’s presence in Asia. The chairman of Tai Cloud Corporation, Mr. Deng, who was also the head of the China Blockchain delegation in DAVOS 2018, stated:

Blockchain can bring the most urgently needed information infrastructure and industrial transformation to upgrade the Chinese economy. The biggest application area of blockchain in China is to rebuild trust and traceability with smart applications. They can greatly reduce transaction costs, improve the efficiency of business operations, and enable Chinese-made brands to access world markets. The Cooperation with NeuroChain will expand the standards and the nodes available to scale faster.

There is currently a lack of supply chain transparency affecting China and throughout the world. Suppliers are falsifying the origin of products to mark up the price. By simply changing out the tags and claiming that the product was imported from a more prestigious location, retailers double the cost of fraudulent goods. The end consumer is often fooled and has no way of authenticating the product’s origin. Tai Cloud Corp. has developed blockchain use cases to address the supply chain traceability issue. NeuroChain will team with Tai Cloud Corp. to make these use cases a reality.

One of the problems with the current blockchain is that it is not scalable and is unable to easily interact with different blockchain protocols. Since Tai Cloud Corp. does not run on the same blockchain protocol as NeuroChain, the NeuroChain protocol will be interoperable and able to work with other protocols. By combining data from several different blockchains, the NeuroChain protocol will be able to validate data with greater certainty than the Ethereum protocol.

Morpheus Labs

Morpheus Labs is a full stack Blockchain-Platform-as-a-Service (BPaaS) for enterprises and will allow NeuroChain to be quickly deployed at the heart of their clients’ systems. Morpheus Labs provides blockchain platforms to businesses and offers blockchain applications to be applied to their client’s systems. As a result, NeuroChain will be able to offer its NeuroNet in the marketplace following its launch in January. Additionally, companies will be able to easily prototype NeuroChain-based applications to validate use cases.

Morpheus Labs Director and Co-Founder, Mr. Branson Lee, stated:

“With the adoption of NeuroChain, we are building highly scalable blockchain platforms and applications to support the entire ecosystem in blockchain era, to resolve complex real-world issues while serving enterprises and government sectors across regions.”

The NeuroChain protocol is scalable, Delahaye explains, Morpheus Labs will quickly deploy the NeuroChain protocol and enable the protocol to scale between businesses. This will ultimately create a competitive advantage as NeuroChain will be one of the first blockchains to facilitate business-to-business systems.

Worldwide Expansion

Despite the volatile market, it is evident that the NeuroChain team is on track – forming strategic partnerships, and expanding its influence to Asia. The alliance with Tai Cloud Corp. secures NeuroChain’s expansion into Asia and Africa and demonstrates the interoperability of the NeuroNet. By partnering with Morpheus Labs, NeuroChain will be easily deployable in business systems.  NeuroChain is projected to launch the test-net in October 2018, followed by the main NeuroNet in January 2019.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.6 stars on average, based on 54 rated postsKent Hamilton - Co-Founder of CryptoDayTrader.io, where we are building Pro Crypto Tools




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Binance Coin Price Analysis: BNB Bulls Maintain Elevation Following Testnet Launch for Binance DEX

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  • Binance Coin on Friday is holding healthy gains of around 3% in the early part of the session.
  • The decentralized exchange Binance DEX testnet was launched earlier this week. Binance will be looking to gather user feedback before an official roll-out of the platform.

Binance’s BNB price continues to somewhat outperform several of its peers. BNB/USDT is trading up over 3% in the early part of the session on Friday. Since the start of February, the BNB bulls have enjoyed a strong move north, having gained around 80%. The price is currently trading in proximity to its highest levels since October 2018, entering a zone that is known for sellers. The next significant technical barrier for the bulls is within reach; for greater upside it must be broken down.

Binance DEX Testnet Running

Earlier this week, Binance, the world largest cryptocurrency exchange by traded volume, launched the testnet for its decentralized trading platform. Binance DEX has been made available for public testing; users can create crypto wallets and start familiarizing themselves with the platform’s interface. The platform is running on the Binance Chain, which is their proprietary blockchain.

Furthermore, the company released a blockchain explorer for the testnet; this allows users to search by an individual block, transaction, asset, address and order ID via the blockchain. The community will be able to participate as individual nodes, in addition to holding their private keys.

Binance has noted it will need to start gathering much feedback from its community on this current testnet. The company can then look at the timeline for a major final step of rolling out the decentralized exchange.

The CEO and co-founder Changpeng Zhao commented following the announcement:

“With Binance DEX, we provide a different balance of security, freedom, and ease-of-use, where you take more responsibility and are in more control of personal assets.”

Technical Review – BNB/USDT

BNB/USDT daily chart.

Given current upside momentum, the areas of resistance must be noted as potential barriers to disrupt this bull run. Firstly, a supply area can be observed just ahead tracking from $10.90 up to $11.63. The BNB/USDT bulls faltered here on several occasions in August, September and October 2018. The damage occurred after the rejection in October, which gradually went on to lead to a steep bearish trend that commenced in November. The price went on to drop around 50%, throughout November up to early December.

Another chunky wave of buying pressure would likely come into play, should the bulls break the mentioned supply. Furthermore, eyes will then be on a return back towards the $14-$15 price range. BNB/USDT last traded up at these heights back in August 2018, just before the bear market kicked in again with intense selling pressure.

Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.6 stars on average, based on 126 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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Monero Price Analysis: The Choice of Cyber Criminals, XMR/USD is Vulnerable to Full Reversal

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  • Monero price on Thursday was hit with steep losses, dropping as much as 5% in the session.
  • Trend Micro, a security intelligence firm, finds a Monero hacking tool for installing mining malware.

XMR/USD: Recent Price Behavior

Monero’s XMR price has been cooling over the last day, having dropped around 5% at the time of writing on Thursday. The move south comes after a decent run higher over the past couple of weeks. XMR/USD jumped almost 30% from 7th February up to 19th February, before easing away from the high print. The price did manage to hit its highest level seen since 10th January.

Security Intelligence Identifies Monero Hacking Tool

Researchers at Trend Micro, a security intelligence firm, have detailed that there is a notable surge in a Monero hack-tool installation. It reportedly attempts to exploit a vulnerability seen on Windows SMB, which has been patched up since 2017. Organizations in mainland China, Hong Kong, Taiwan and Italy are said to be the ones targeted, according to the researchers.

The blog published via Trend Micro details that the tool seems to be a merger of existing threats. In particular, it has targeted Microsoft Windows users – MIMIKATZ and RADMIN. As per Trend Micro:

“Between the last week of January to February, we noticed an increase in hack tool installation attempts. That dropped seemingly random files into the Windows directory. Initially appearing unrelated, the analysis showed the final payload to be a Monero cryptocurrency-mining malware variant. It scans for open port 445 and exploits a Windows SMB Server Vulnerability MS17-010 (patched in 2017) for its infection and propagation routines.”

The research does not come as much of a surprise, given the raft of Monero mining malware threats seen over the past year. Cyber criminals have strong favor for the altcoin given its privacy and anonymity, in addition to the ease of mining it on devices as simple as laptops and smartphones.

Technical Review – XMR/USD

XMR/USD daily chart.

Given the current edging south, eyes are now on the next area of support, which can be seen below at the prior acting range-block formation. XMR/USD between 11th Jan to 8th February was moving within a narrowing daily range. The area above this is now acting as support, as seen between 10-17th February. This came into play after a breakout and retest of the breached block. In terms of the comfort area, it is seen tracking from $47.50 down to $42.00. The bear pressure may prove to be too much for the support and force a breach. Another potential retest of the low down at $38.80 could be called into action.

Lastly, resistance to the upside is observed from the $53-$60 price range, which is the near-term supply and high area from 24th December to early January 2019. Further north, there can also be a chunky barrier seen ahead of the psychological $100 mark, tracking from $75-$95 range.

Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.6 stars on average, based on 126 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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Why Investors Should Be Paying Attention to Aelf

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So far, each iteration in the evolution of cryptocurrencies and blockchain companies has come with its own issues and setbacks. This is because the scale of the companies is actually fairly limited, and not as comprehensive as the promises made by blockchain fanatics.

Part of this the lack of connectivity between blockchains, but there is also the issue of the blockchains not having the scalability necessary to accommodate huge companies. When you have a bunch of separate blockchains functioning out of sync, it is hard to build anything significant, as the “ecosystem” is coming to find.

A Natural Evolution

The evolution of the space started with Bitcoin – there were coins before, but nothing that caught on – which was the equivalent of a “simple app”. It could be traded and used the basic functionality of blockchain, but there was nothing complicated about its use case.

Then there was Ethereum, which allowed for smart contracts and other protocols to be built out upon it. This results in a lot of different apps functioning on the same platform, much like an app platform.

Finally, the hope is that Aelf will be able to create a blockchain operating system (much like Linux) that will add an infinite level of scalability to the platform. It would be developer and consumer friendly and function with high reliability.

Two Key Innovations

This blockchain operating system depends on two major innovations: side chains and a unique governance system. By using a multi-chain architecture rather than a “main” blockchain, they avoid many of the pitfalls of NEO or Ethereum. Ideally, this will allow Aelf to be highly available and have a high transaction-per-second capacity.

Additionally, companies will be able to rent out nodes (nodes as a service) to help process their side chains when they’re having scaling issues. This is one of the many benefits of operating on an operating system-esque model.

The governance system for Aelf must be unique, since regular consensus algorithms wouldn’t work when confirming information from side chains on tho the main chain. Therefore, a Delegated Proof-of-Stake algorithm is used, which helps you vote on which nodes will become mining nodes and have the ability to confirm transactions.

Current State of Aelf

Aelf is currently in a big growth period. The main net launch is scheduled for 2019, with the development team publishing consistent updates along the way.

The protocol uses their proprietary token, ELF, as a utility token that permits users to access, interact with, and directly participate in DAPPS and other services. No ICO occurred for ELF and it was instead financed using a private token sale.

Breakout Potential

Currently ranked 89th in terms of market capitalization and available on Binance, ELF had a rough December, with a recent recovery occurring during a consolidation period.

The current prices around 3,000 to 3,500 satoshis represent a good buying area while waiting for a breakout. ELF is a fairly volatile coin and with consolidation occurring rapidly, it isn’t unreasonable to think it could hit 4,500 satoshis.

Additionally, with the pending development and release of its mainnet, the fundamental could potentially change very quickly. This could assist the technicals and create a highly profitable breakout, which makes it a good short- or medium-term trade.

Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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