DECENT wants to create a decentralized digital rights management solution for piracy powered by the blockchain.
Like so many modern decentralized platforms, DECENT’s platform seeks to remove the middlemen, power abusers, and prevent third party manipulation to ensure content creators and consumers can trade material in a peer-to-peer, permissioned and transparent blockchain network.
“Our aim is to replace the status quo,” Matej Michalko, DECENT developer, tells Hacked.
A network of individual, digital dictatorships, with a digital democracy, re-routing power back to authors, artist, producers and those that want access to their content.
DECENT’s mission originally was to tackle piracy in a decentralized way, incentivizing authors, consumers, and even seeders for the use of their bandwidth and storage space.
The company, according to Michalko, has many interested investors. “We now have over 3,600 individuals across the globe who have contributed to the ICO, far worth over $3.6 million USD,” he said. After building a prototype and proof of concept, DECENT blockchain platform was presented at conferences around the world. They went on to raise 5,600 bitcoins.
“Since attending our first conference in June 2015 in Shanghai, we spent time at cities in Russia, Slovakia, Czech Republic, United States, and Austria to fully explain our project and to provide investors with clear opportunities to see who we are, what we are trying to achieve, and what our plan is to be successful,” he said. “Before the ICO, we registered up a legal, not-for-profit entity in Slovakia and will soon register a foundation in Switzerland. This month, we opened up our first office in China as well.”
DECENT’s fund raising model entailed ‘best practice’ for Initial Coin Offerings, the way in which many new digital currencies raise funds. The startup set up a trustworthy, multisig escrow wallet and creating convenient payment options so that people could contribute in fiat, bitcoin, or altcoins.
DECENT’s ICO raised more than 4000 BTC within the first day and over 1100 BTC within the first hour.
“The DECENT platform is based on its ‘Proof of Resource’ system. “PoR was designed to ensure that miners/seeders and publishers are properly incentivized with DCT tokens for their contributions to the project,” Michalko said. “And it’s based on aspects that includes bandwidth, disk capacity, quantity and duration of content shared, as well as CPU power.” DECENT is scheduled to launch by the end of Q2 2017.
“Securing the value of intellectual property is one of the great struggles of our time, and we’re committed to using a novel technology to solve the problem,” Michalko said.
Images from Shutterstock.
Technical Analysis: Volatility on the Rise Again, as Ripple and Ethereum Hit Targets
Ripple has been the star of today’s session in the cryptocurrency segment, as the only major coin on a long-term buy signal in our trend model continued yesterday’s break-out, and surged to a new all-time high. The currency cleared the $0.425 level that marked the top in May, and after the more than 6-month long consolidation phase, it promptly neared the $0.50 level.
While the short-term momentum indicators are now stretched, the coin is still in an encouraging long-term setup, although the best period to buy already passed. The coin could be dragged lower in the case of the expected broad correction in the segment, but we expect XRP to outperform in the coming period, with support levels found at the prior high and below that in the range between $0.30-$0.32.
XRP/USDT, 4-Hour Chart Analysis
Ethereum has been the other top coin on the rise, as the second largest digital currency surged past the final range projection target of the break-out two weeks ago at $685 in the aftermath of the launch of the BTC futures on Monday. The ETH token is now also on a sell signal on all time-frames, and we advise investors and investors to wait for the next major correction to establish new positions. Support levels are now found at $575, $500, $480, and $400.
ETH/USD, 4-Hour Chart Analysis
Trade Recommendation: Ride the Next Rally of Bitcoin
The profit taking period that saw the Bitcoin market fall from 19,697 to a low of 13,501 in a matter of a few days is almost up. The market appears to have generated a new higher low and will use that level to make its next move up.
Technical analysis reveals a large reversal pattern in the hourly chart that could signal the end of the correction. In addition, volume has been steadily decreasing. On Coinbase, volume spiked by as much as three times its average value in the hourly chart during the height of selling. In the last seven hours, however, volume has been way below its average indicating that bears have lot ammunition. More importantly, RSI in the hourly chart is far from overbought territory. This gives the market a lot of room to breach resistance at 18,000.
The strategy is to buy the market when it goes above 18,000. With signs of selling exhaustion, bears may not put up much of a fight the next time the pair breaches 18,000 on Coinbase. Also, the market has no stiff resistance above 18,000 so it has a clear path to our target of 22,500.
Hourly Bitcoin Chart on Coinbase
As of the time of writing, Bitcoin is trading at 17,200.
Summary of Strategy
Buy: breach of 18,000
Support: 17,200, 16,800, and 16,450
Stop: Move below 16,450
Disclaimer: The writer 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.
Technical Analysis: Bitcoin Grinds Higher as Records Tumble in Altcoins
The historical surge in the segment, which is the second such move this year, continued today, with another round of break-outs in some of the major altcoins and tepid gains for BTC investors. Ethereum, Ripple, Dash, and first and foremost Litecoin was leading the charge, with the recent star LTC topping $300, just after a day of hitting the $200 mark.
Litecoin defied all odds after reaching extremely overbought readings, and the coin rode the speculative wave, turning exponential, not unlike IOTA and Bitcoin previously. With the coin being stretched in an unprecedented way on all time-frames, investors could even consider selling their core positions at the current levels, as a deep correction is almost granted in the coming period. The first meaningful support level is found at $125, and a re-test of the $100 level is probable during the next major correction.
LTC/USD, 4-Hour Chart Analysis
Ripple finally ended a long period of relative weakness today, and the only major on a long-term by signal jumped over primary resistance at $0.26 and crossed the $0.30-$0.32 too in the euphoric sentiment. As the coin is not long-term overbought following the 6-month long consolidation, the buy signal in XRP remains intact, with the only major resistance level being found at the all-time high near $0.425.
XRPUSDT/USD, 4-Hour Chart Analysis
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