UAHF: A contingency plan against UASF (BIP148)

UASF: User Activated Soft Fork. Developers add a mandatory rule set to change the node' software, invalidating certain kinds of previously valid blocks after a flag day. This method requires no mining majority to support or activate a chain-split. The UASF proposal intends to make a 51% attack against the blockchain that has the majority of economic activity, and this attack is called a "Wipe Out".

UAHF: User Activated Hard Fork. Developers add a mandatory rule set to change the node software. These changes make previously invalid blocks become valid after a flag day, which do not require a majority of hash power to be enforced. Nodes with the rule set changes will follow this chain irrespective of its hash rate. The UAHF proposal is a peaceful and voluntary departure of different community members who have different opinions or visions, and it is not intended to make an attack against other blockchain(s), even if the UAHF chain has the higher hash rate.

BIP148 node: a Bitcoin node that has implemented BIP148 consensus rule changes.

BIP148 chain: a blockchain that is valid according to the BIP148 consensus rule changes. BIP148 is a kind of UASF.

Original chain: The blockchain that uses the same consensus rules in use today. (May 26th, 2017)

Wipe Out: If the UASF chain is activated and if the UASF chain gains the majority hash rate, then the nodes following the original chain will reorganize and begin to follow the UASF chain. In such an event, a significant number of financial transaction records will disappear. This is a risk that UASF nodes impose on nodes intending to follow the original chain. In contrast, a UAHF does not threaten the nodes following a different rule set with this same risk.

Bit 1: The BIP9 version bit in a block header used to signal for SegWit activation.

Stagnation risk: A blockchain without mining support may suddenly stop being extended, because the economic incentive for miners is low. A minority fork like UASF is under serious risk of permanent stagnation.

 

Background

On May 24th, 2017, a significant economic majority, more than 80% of the entire hashing power and 80% of transactions' source software or service, of the Bitcoin industry came to an agreement in New York (New York Agreement) on tangible steps to scale Bitcoin in the near future. Representatives of Bitcoin Core declined the invite to attend this meeting. This agreement is the hard work of those who sincerely believe in Bitcoin and those entrepreneurs or investors who have strong financial interest in scaling Bitcoin quickly and unitedly. Bitmain is a supporter of the agreement. We support the agreement and we want to make it happen as soon as possible.

A software project, btc1, which is addressing the New York Agreement, has been under active development and will likely deliver a consensus rule change plan called SegWit2x. The testnet5 for SegWit2x is already alive. Alpha version of the software will be released on June 16th and everything is still on time.

Follow the github here:

https://github.com/btc1

Read a reddit discussion about it here:

https://www.reddit.com/r/btc/comments/6h1wpr/segwit2x_a_summary/

Subscribe the mailing list:

https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-ng

Despite this agreement, the UASF (BIP148) astroturfing movement continues to get lots of airtime on censored forums, many of which are controlled by single anonymous individuals. Many of the software developers who work in a software project called "Bitcoin Core" are also supporting it. BIP148 poses a significant risk for the Bitcoin ecosystem, so we are preparing a contingency plan to protect the economic activity on the Bitcoin blockchain from this threat.

The New York agreement is also continuously and intentionally sabotaged by a group of software developers working on Bitcoin Core.

We must also be prepared for the disruptive risk that UASF activation will bring to the Bitcoin network. The New York agreement is very conservative and aimed at bringing peace within the Bitcoin community on a simple but artificially escalated scaling issue. If somehow the New York agreement cannot prevent a chain split, we will have to be prepared.

The purpose of this blog post is to announce our UAHF contingency plan for UASF/BIP148.

 

Why we need a contingency plan against BIP148

According to BIP148, when the chain MTP is at or beyond Tuesday August 1st, 2017 12:00:00 AM GMT (epoch time 1501545600), BIP148 nodes will begin to orphan Bitcoin blocks not signaling Bit 1 at its UASF forking point. This consensus rule change makes the rule set smaller than original chain before BIP148 activation. BIP148 nodes will follow the new BIP148 chain if there is any more than zero hashing power supporting it; if the hash rate backing the chain is 0, BIP148 nodes will find their chain unable to be extended.

If there is hash power supporting the BIP148 chain, it does not need to be a hash rate majority to allow the chain to be extended. Even if there is only one person solving hashes by hands, given enough time the BIP148 chain can be extended by another block. According to the existing hash rate distribution, some well known mining pool operators have stated that they will support the UASF by allowing miners choice, although their total hash rate is not enough to secure a majority. A company hiring many crucial Bitcoin protocol developers controls some of its own small hash rate now according to its CEO. So the Bitcoin network is at a high risk of being split on Aug 1st, 2017.

BIP148 is very dangerous for exchanges and other business. There is no sign of significant economic support behind BIP148 and when it is alive as a blockchain, the economic support would most likely be based on speculation. The mining activity behind a UASF chain may stop without notice, and investors who buy in the BIP148 propaganda may lose all their investment. Any exchanges that decide to support a UASF token after the forking point need to consider the stagnation risk attached to it.

There is no replay protection on a BIP148 chain. Transactions will be broadcast on both chains and users cannot prevent them from being confirmed on both. Exchanges must stop withdrawals and deposits at the forking point for some time, and deploy their own coin splitting methods. If you want to learn more, please read from the References section of this post: Mitigating Bitcoin Forking Risk during Network Upgrade.

The UASF chain presents a risk of the original chain being wiped out. If there is no contingency plan, all economic activity that occurs on the original chain after the UASF forking point will face the risk of being wiped out. This has disastrous consequences for the entire Bitcoin ecosystem. UASF is an attack against users and enterprises who disagree with activating SegWit right now without a block size increase, which is a very important clause in the Hong Kong agreement made by the global Bitcoin community in February, 2016. The chain reorg risk is more significant than imaged, as analyzed by Peter R. in BUIP055,

Rationale for Reorg Protection

The probability (P) that the big-block chain reorgs back to the small-block chain is given by

P = (q/p)^2

where p is the fraction of the hash power mining the big-block chain and q is the fraction of the hash power remaining on the small block chain [2]. With 75% of the hash power supporting larger blocks, the probability of a reorg is 11%.

 

Protection Plan

This plan is for a User Activated Hard Fork, or UAHF. You can find technical specs here:

https://github.com/bitcoin-UAHF/spec/

The activation time is configurable. We will do the hard fork at 12 hours and 20 mins later than UASF. The epoch time stamp will be 1501590000.

There is "must be big" rule at the fork block. The block size of the fork block must be larger than 1,000,000 Byte. Fork block means the first block which adopt the consensus rule change.

It will accept block of which the size is less than 8MB and we, miners, will soft-limit the block size to less than 2MB.

There will be a soft fork rule added into the protocol to limit the sigops per transaction within 20K.

The block size will not be a part of hard-coded consensus rule for us in the future after the fork block. Miners who generate large blocks will be punished by economic incentives, but not limiting the block size.

There will be replay attack protection that is available for exchanges and wallet developers. You can find the spec here:

https://github.com/Bitcoin-UAHF/spec/blob/master/replay-protected-sighash.md

Bitmain will use some of its own hash rate and work with the developer community to have a contingency plan based on UAHF. We will develop options for miners to voluntarily join us.

Bitmain will mine the chain for a minimum of 72 hours after the BIP148 forking point with a certain percentage of hash rate supplied by our own mining operations.

Bitmain will likely not release immediately the mined blocks to the public network unless circumstances call for it, which means that Bitmain will mine such chain privately first. We intend in the following situations to release the mined blocks to the public (non-exhaustive list):

1. The BIP148 chain is activated and subsequently gains significant support from the mining industry, i.e. after BIP148 has already successfully split the chain;
2. Market sentiment for a big block hard fork is strong, and economic rationale drives us to mine it, for example, the exchange rate is in favor of big-block Bitcoin;
3. If there is already a significant amount of other miners mining a big-block chain publicly and we decide that it is rational for us to mine on top of that chain. In such a case, we will also consider joining that chain and give up our privately mined chain so that the public UAHF chain will not be under the risk of being reorganized.

Once Bitmain starts to mine a UAHF chain publicly, we will mine it persistently and ignore short-term economic incentives. We believe a roadmap including the option to adjust block size will serve users better so we expect it to attract a higher market price in the long term. The economic network will expand faster, and the winning odds will be higher in a highly competitive cryptocurrency market.

We share the same belief with some very early Bitcoiners, that decentralization means that more than 1 billion people in 200 countries are using Bitcoin as a saving currency and payment network, and that it comprises of hundreds of thousands of Bitcoin services, traders, exchanges and software. We do not believe that decentralization means a 1MB block size limit or a responsibility to constrain the block size so that a Raspberry Pi can run a full node while the fee per Bitcoin transaction is higher than the daily income in most developing countries. We believe Bitcoin needs to offer people an alternative to flourish without depending on powerful authorities that charge fees that can be as high as 100$/transaction.

 

Software Development

Currently, there are at least 3 client development teams working on the code of the spec. All of them want to stay quiet and away from the propaganda and troll army of certain companies. They will announce themselves when they feel ready for it. Users will be able to install the software and decide whether to join the UAHF.

The softwares are expected to be ready before July 1st, and it will be live on testnet by then.

 

Future Roadmap

If New York agreement activates

We wish that New York agreement will be developed and carried out well. It is the last hope for Bitcoin to scale unitedly in face of the BIP148 threat. We will try our best to deploy and activate it as soon as possible.

If BIP148 activates

Then UAHF will be alive on the same day. The UAHF chain will protect the economic transactions that are under risk of reorganization because of UASF.

Later, we will support the activation of SegWit on the UAHF chain if there is no patent risk associated with SegWit and if the arbitrary discount rate of witness data segment is removed. The weight parameter, which is designed for artificial rates, may need to be deleted and we need to be frank and straightforward in the software code about different limitations on different kind of blocks and other parameters. A SegWit without the artificial discount rate will treat legacy transaction type fairly and it will not give SegWit transactions an unfair advantage. It will also help the capacity increasing effect of SegWit more significantly than with the discounted rate. We will also push for and encourage changes in code, in main block or in extension block, that will make Lightning Network run more safely and reliably than Core's present version of SegWit does.

Extension blocks will be developed as a framework to encourage multiple protocol development teams to bring innovations and capacities into the Bitcoin protocol. Some important but aggressive innovations can be introduced without affecting all Bitcoin users or companies around the world. This will accelerate the innovation of Bitcoin protocol. Sidechains will also be encouraged after the associated security issues have been reviewed by the technical community. Miners are genuinely driven by the hope that Bitcoin will be a success.

We will encourage and help various multi-layer solutions come into production. As a very early investor of RootStock, we identified the potential of another important competing cryptocurrency. We are already working closely with authors of other multilayer solutions.

A new SPV security service by full nodes should be promoted, and further research and libraries that are compatible with the SPV model should also be promoted among wallet developers.

If Bitcoin can combine Bitcoin NG by Emin and Lumino by Sergio together, then a throughput increase of the current Bitcoin network to up to 100x can be easier to achieve with a block size of around 100KB but of a higher block generation frequency. The original Bitcoin NG is a hard fork proposal, but we can soft fork it into the protocol with the extension block framework. At the same time, RootStock, co-founded by the inventor of Lumino, is also trying to implement Lumino on RootStock. Lumino will work perfectly with Lightning Network. It will be interesting to see which implementation will bring Lumino into production first, and in what ways.

Schnorr Signature is also under last stage review.

The diversification of client development shall be promoted. Defensive Consensus concept is under development and will help in the mining industry. Defensive Consensus will help the Bitcoin network work safely while multiple implementations work together.

There are and will be other good innovations in the Bitcoin community that have not been well promoted because of various reasons. We seek to actively work with those innovations.

BUIP056 will be developed to manage the block size issue before a fully automatic and mathematical block size governance model is widely accepted. As evidenced in the past years of debate, miners have proved to be very conservative and willing to work with the wider economic community. The rough roadmap of the block size increase for the next few years is below.

 

Time	Block size, Byte
Now	1,000,000
2017 Aug	2,000,000
2017 Sept	4,194,304
2018 April	5,931,641
2018 Aug	8,388,608
2019 April	11,863,283
2019 Aug	16,777,216
After 2019 Aug	Depends on further research

Weak blocks will have to be developed and deployed, before the block size increase reaches 8MB.

 

References

For other parties in the ecosystem, we recommend detailed research on effects of the UASF. All Bitcoin businesses must be prepared on that day to mitigate or eliminate the risks that UASF carries.

Mitigating Bitcoin Forking Risk during Network Upgrade,https://github.com/digitsu/splitting-bitcoin

If you want to learn more about minority forks, please see Meni Rosenfeld's presentation:

How I learned to stop worrying and love the fork https://fieryspinningsword.com/2015/08/25/how-i-learned-to-stop-worrying-and-love-the-fork/

A Fork in the Road: Must we Choose a Path?  https://www.youtube.com/watch?v=kkJHOpuvQo0&feature=youtu.be

Here is a letter to help you understand the history and full picture of the great debate on Bitcoin scaling, even you are not miners:

An Open Letter to Miners

https://www.reddit.com/r/btc/comments/6befxw/an_open_letter_to_bitcoin_miners_jonald_fyookball/

Here is another blog help you to understand what will happen on the BIP148 fork:

https://medium.com/@jimmysong/uasf-bip148-scenarios-and-game-theory-9530336d953e

The latest advancement of I/O Digital Currency: DIONS

IOC can be recognized as a digital currency. Even though it is a digital currency, it is still a real world value. The value is based on the most latest trades on digital exchanges. IOC is always looking for new advancements for their system. DIONS is currently the latest advancement to help with the IOC coin. This stands for decentralized input output name system. This system can be seen as an specific advancement to Bitcoin. This new software permits identity storage, avatar formation, and encrypted document storage capabilities that are interchangeable between users. DIONS allows the users to store the delicate identity credentials. This can secure a way for users to take over their reputation and manage their data. 

DIONS also empowers the formation of arbitrary values. These appearances are hard coded into a user friendly wallet system. With DIONS, stage names are effortless to remember and also fully interchangeable between users. DIONS added a new system of messaging that they fully support. Builders will also be able to innovate by API by constructing decentralized applications. 

DIONS can also take any arbitrary form and be interchangeable between users. DIONS can allow confidential creation of aliases and identity form. When you decide to create an alias, you will be provided with with an added layer of privacy at the time. Even if you have a public or private name, you can make transactions either way. Connecting an exclusive ID with their brand name, the coin payments will be highly profitable to individuals. Businesses can now use ID's to serve as their customer's reference or invoice numbers. This also can help the businesses benefit from enormous fees. It will also be an easy auditability distributed database. Lastly, DIONS will come along with a Skype-like end to end decentralized chat with an encryption.

Resources

Website 

Blackcoin Announces Imminent Launch of 'Blackcoin Lore'

Blackcoin is a peer-to-peer cryptocurrency or digital currency which has a distributed and decentralised public ledger, which unlike traditional banks can be viewed and audited easily by anyone. In Blackcoin anyone can open an account just by downloading the software and this bank cannot be shutdown and has no owners. It is the first coin to have working smart contracts. Accounts can't be frozen in Blackcoin and it's completely anonymous, free of cost and a lot more secure than what traditional banking is. Blackcoin is the first coin to go fully proof of stake and is the future of what is called banking. 

Blackcoin Lore

Blackcoin Lore is the new update which has incorporated Blackcoin's own open source code development with the technology of Bitcoin core version 0.12 which has made Blackcoin Lore to be the first proof of stake (POS) cryptocurrency to have had implemented technology as such as that. One of the crucial historic reasons for the use of Blackcoin is it's fast verification speed and transfer speeds, but these speeds have seen an improvisation with the advent of Lore which has led to the reduction of the verification time by about 50 percent and is upto a maximum of five times faster than the version previously present under certain conditions. Lately the wallet synchronization time had puffed from several hours to upto a day or more but this update has now addressed the inconvenience by greatly improving user adoption. Advancements in the grounds of security, stability and also in the removal of things such as the bugs are present in theupdate. POS 2.0, which was previously present at the core of Blackcoin's technology has completely been reconstructed and renovated and has been replaced by Blackcoin POS. Blackcoin Lore has made Blackcoin the first POS Cryptocurrency to adopt Bitcoin core 0.12. 

Blackcoin, the KING of POS

Projects like Stratis en QTUM which are an open source community which has the aim to develop a system of blockchain have collected a lot of funds. The decentralised platform has raised $12.25 billion during the initial eighteen hours of it's initial funding round or ICO. It is an open source project which has been based on a blockchain platform which allows execution of smart contracts. One of it's foundational goal is to promote and to facilitate access through mobile to the blockchain technology which is known as the "Go Mobile" strategy. This developmental project has decided to depend or rely upon Blackcoin for it's development, core formation and operation. It is made upon the Bitcoin 0.13 and plans to have Blackcoin's POS 3.0 consensus model incorporated. Post testing multiple POS consensus model, decision to take up Blackcoin POS 3.0 for integration into the Bitcoin Core 0.12 is taken because Blackcoin's POS 3.0 is sophisticated and clear explanations aren't present in the code which describes the sections which associate with the others. The code has been distributed into many numbers of files and the challenge is to identify markers which allowed qtum developers to have tagged the portions which could be ported. This has attracted it to base itself on the platform of Blackcoin.

Resources:

www.blackcoin.io

www.reddit.com/r/blackcoin/ 

Russian billionaire announces business incubator on Waves platform

Waves CEO and founder Sasha Ivanov and Russia's business ombudsman Boris Titov have signed an agreement to establish a new ICO incubator entitled 'People of Growth'.

Boris Titov, the Russian business ombudsman and billionaire politician, is creating a new initiative for entrepreneurs and growing companies, hosted on the Waves blockchain.

Whilst there have been a large number of crowdfunding success stories in the blockchain space in recent months, with multiple eight-figure raises, the goal of this project — called 'People of Growth' — is to help companies in the real economy to leverage the benefits of ICOs. This new financial instrument allows them to raise money in cryptocurrency for their projects, from supporters all over the world, regardless of the sector in which they operate.

The cooperation between Titov and Waves began 6 months ago, when the Upcoin token was launched as an engagement tool for the Party of Growth, for which Titov is chairman. Partiya Rosta is a minority political party with a strong base of grassroots activists. Upcoin, a token hosted on the Waves network, was integrated into a loyalty programme that rewarded supporters for their work for the party.

Upcoin has the distinction of being the world's first ever blockchain social project, signalling new directions for blockchain applications. Now, this involvement has been extended to a new level with the creation of People of Growth. Whilst traditional loans are typically expensive and difficult to secure in Russia, businesses have proven interested in ICOs as a promising new vehicle for raising seed funding and to accelerate the launch of new business ideas.

'We're really happy to sign this agreement with Boris,' explains Waves CEO Sasha Ivanov. 'It's a fantastic opportunity to push blockchain adoption to a far wider community than the traditional crypto crowd, which of course has always been our vision for Waves. We always intended to be "Blockchain for the people" and this is another great step forward in that direction.'

Four Reasons Bitcoin is Not A Bubble: Analyst

Are central banks all that bad, really? According to one economic analyst, they're the reason Bitcoin is headed for great things. Nathan Martin from the Economic Edge blog posted an analysis on why Bitcoin is not a bubble. His four reasons make a lot of sense.

Decentralization

The power of Bitcoin rests in its decentralized nature. Because Bitcoin is not owned by any centralized banking system (unlike national currencies), the value cannot be arbitrarily manipulated by currency production (i.e. the devaluation of the German Mark, post-WWII). This gives Bitcoin the stability of a commodity like gold.

Supply

The supply of Bitcoin, unlike all other items of value like gold or currency, is strictly limited. There will never be more than 21 mln Bitcoins ever mined. The market is at 80 percent of that number, and will never exceed it. Mining is only getting harder, and the value of each coin will continue to increase.

Security

Decentralization and encryption mean that Bitcoin is secure. It cannot be manipulated by external forces and cannot be confiscated, apart from the hard copy key, which is held only by the individual user entity.

Fraud-proof

Because all Bitcoin transactions are recorded in the Blockchain, the opportunity for fraud is minuscule at best, and immediately traceable.

With unsurpassed security, zero external manipulation and a limited supply, there is no reason why Bitcoin should not continue to increase in price for the foreseeable future, says Martin. Bubble concerns are based on markets where these factors are not in effect.

According to Martin, while a bubble is certainly a possibility in the distant future, the valuation point for Bitcoin is only being tested by the recent gains. Martin argues that this current rise will, over time, be seen as building a base for far greater increases to come.

Dubai Plans Digital Passports Using Blockchain Tech

The Dubai government has partnered with UK startup ObjectTech to bring blockchain-based security to the emirate's airport.

ObjectTech said this week that it is working with the Dubai Immigration and Visas Department to develop digital passports that can potentially eliminate manual checks at Dubai International airport.

According to the startup, the system combines biometric verification and blockchain technology, and will use a "pre-approved and entirely digitized passport" to authorize passengers' entrance into the country. The system will further verify individuals through a three-dimensional scan via a short tunnel as they walk from the aircraft to claim their baggage.

Using blockchain technology, the startup said the digitized passport will incorporate a feature called 'self-sovereign identity' for privacy protection, which it claims allows passengers to control which parties can view their passport information.

Paul Ferris, co-founder and CEO of ObjectTech, said in a blog post that the aim is to make the border process quicker and safer for international travelers, and also give passengers full control of their digital data. A pilot program is anticipated to be ready by 2020, although a detailed project timeline remains unclear.

In the post, the initiative was framed as one part of the Dubai government's commitment to stay 10 years ahead of the rest of the world in public services.

As part of that ambitious process, the Dubai government has concluded the second round of Dubai Future Accelerators program, with 28 innovative startups signing up to work on projects with the authority. The collaborations mainly cover public sectors such as healthcare, education and utilities.

Spanish Banks Form New Blockchain Consortium

A group of Spanish banks has formed the country's first blockchain consortium. Wholesale bank Cecabank announced the effort today, partnering with professional services firm Grant Thornton.

Who's involved: In its announcement, Cecabank doesn't say which other institutions are taking part, stating that it "comprises 33% of the Spanish banking sector". However, according to Spanish newspaper El Pais, the group's membership includes Abanca, Bankia, CaixaBank, Kutxabank, Ibercaja, Liberbank and Unicaja.

It represents the first major foray into blockchain for these companies, as other Spanish banks, including Banco Santander and BBVA, have been working with the tech for some time.

What they're saying: Thus far, only Cecabank has commented publicly on the consortium effort, describing it as a way for its employees to get a top-down understanding of the tech – as well as possible insight into how the bank might actually go about using it.

"Employees of all our functional areas are not only going to gain an in-depth understanding of the technology, but also of all the new features that arise, which is indispensable, considering the momentum for constant progress maintained by blockchain," Jaime Manzano, its head of reporting, operational management and banking training services, said in a statement.

The goal? New products and services, according to Grant Thornton's Luis Pastor.

"Our intention is to help Cecabank to implement the technologies necessary for its companies to be the first to make good use of the advantages that blockchain is expected to produce," Pastor said.

VeChain S.E.A. becomes a portfolio company of PwC’s incubation program to accelerate blockchain adoption in Hong Kong and Southeast Asia

(Shanghai, May 21, 2017)-Singapore-based blockchain service provider VeChain S.E.A, a subsidiary of the leading blockchain technology company in China, BitSE, is proud to announce it will join PwC's incubation program.

 

PwC and BitSE held a signing ceremony on Monday in Hong Kong with Raymund Chao, PwC Greater China Chairman, and DJ Qian, CEO of BitSE and VeChain, to make the agreement official. A second signing ceremony was held in Singapore on May 17 with Mr. Qian and Yeoh Oon Jin, PwC Singapore's Executive Chairman.

 

"In the journey of a joint business relationship between PwC and BitSE, we are delighted to achieve this significant milestone together with PwC. VeChain S.E.A, a subsidiary of BitSE, will focus on accelerating VeChain business expansion in Southeast Asia," said DJ Qian, a former IBM executive who left the multinational technology firm in 2013 to join the blockchain industry. "Besides technology, industry know-how and market experiences are equally important to apply blockchain technology. We share the same vision with PwC to improve the efficiency and lower the cost of trust in supply chain management. I believe this in-depth cooperation will definitely accelerate the transformation of supply chain management."

 

VeChain, which launched in November 2016, is an enterprise software designed to create, manage, maintain and update shared data about products in the supply chain. VeChain is a state-of-the-art collaboration platform, making the supply chain more transparent and solving important problems that exist in the modern supply chain. So far, this platform has already been adopted by several established companies as part of their production system in industries such as luxury, fashion, logistics, pharmaceuticals, automotive, food safety, and wine and spirits.

 

PwC's incubator program will help VeChain accelerate its deployment in Hong Kong and South East Asia, as well as offer the blockchain startup strategic advice. PwC will also provide more resources, industry know-how and blockchain research to improve the design of VeChain and solve even more problems than the platform already does while expanding into more industries and onboarding more clients.

 

"Embracing advanced technology for growth becomes the top priority for many business sectors," says Mr. Chao. "Innovative applications and solutions could improve the effectiveness of supply chain, brand reputation, and even customer experience. We are excited about the joint initiative between PwC and BitSE and the VeChain services we provide that could help our clients achieve greater success. I envisage our services will create an impact and deliver on our firm's purpose of building trust in society and solve important problems."

Mr. Oon Jin added: "Disruption is here to stay in our current volatile business environment and it brings both opportunities and challenges. We firmly believe that it is through embracing disruptive change that allows innovation to flourish. This is an exciting milestone for us, and we are confident that together with VeChain we will bring more value to the marketplace through collaborative innovation."

 

PwC's global network features more than 223,000 professionals across industries. BitSE's more than 70 employees worldwide and over 50 professional blockchain application developers make it one of the largest blockchain-focused startups. The two companies partnered one year ago to promote blockchain adoption in Asia and around the world.

 

 

About BitSE:

BitSE (short for Bit Service Expert) provides blockchain-enabled, enterprise-grade software infrastructures tested and documented for enterprise. As a Blockchain-as-a-Service (BaaS) company, BitSE lowers the costs of doing business. The company was established in 2013. As one of the first blockchain technology research teams in China, BitSE has more than 70 employees worldwide, including more than 50 professional blockchain application developers working to implement digital asset and blockchain technology designed for enterprises. BitSE's blockchain-enabled technology is transforming enterprise operations in the same way that the Internet changed content creation. BitSE's open-source, collaborative software approach ensures the transparency, longevity, and interoperability that blockchain-enabled technologies need.

 

About PwC - Mainland China, Hong Kong, Macau, Taiwan and Singapore

PwC China, Hong Kong, Macau, Taiwan and Singapore work together on a collaborative basis, subject to local applicable laws. Collectively, we have around 800 partners and 20,000 people in total.

PwC provide organisations with the professional service they need, wherever they may be located. Our highly qualified, experienced professionals listen to different points of view to help organisations solve their business issues and identify and maximise the opportunities they seek. Our industry specialisation allows us to help co-create solutions with our clients for their sector of interest.

PwC offices are located in these cities: Beijing, Shanghai, Hong Kong, Shenyang, Dalian, Tianjin, Jinan, Qingdao, Nanjing, Suzhou, Hangzhou, Ningbo, Wuhan, Changsha, Xi'an, Chengdu, Chongqing, Xiamen, Guangzhou, Shenzhen, Macau, Taipei, Chungli, Hsinchu, Taichung, Tainan, Kaohsiung and Singapore.

Crowdsale Voise

Voise could be a cryptocurrency, which may be spent, saved, or invested with, and it may be purloined too. Mercantilism with Voises was thought of to be risky. However, the present trends show that it's become a giant hit the binary choices sector. This localized currency isn't regulated by any Government, or by any central authority. 

What determines the worth of Voises?

Voise's price is determined according to the supply and demand ratio. Price increases when the demand increases, the rates plummet downwards when the demand falls. Voises in circulation are limited, and new ones are created at a very slow rate. Since it does not have enough cash reserve to move the market price, the price can be extremely volatile. 

Voise trading is popular because of Low inflation risk

Inflation is the biggest issue for traders because all the currencies lose some of their purchasing power when the reserve banks keep printing more money. With the Voise mining system being limited to just 21 million Voises, it hardly gets impacted with inflation. Small collapse risk - Currencies fluctuations depend on government trade policies, which occasionally cause hyperinflation, and even cause the collapse of the coin. Voise could be a virtual universal currency, that isn't regulated by any government. 

Simple, safe and low cost

The Voise payments occur between peer-to-peer with none intercessor, that is why it's easy and cheap. 
Comfortable to hold - Voises value a million bucks may be carried in your pocket, with a memory stick. This can not be through with gold or money. 
Untraceable - The supply of Voise isn't regulated by any government, that reduces the risk of seizure. 

Voise mercantilism platform

Binary options brokers have gotten conversant in the quality of those Voises, and the constant unsteady values. So they're victimization this chance to supply traders with the most recent volatile crypto-currency as an extra payment technique. Voise brokers providing crypto-currency as mercantilism possibility embody. 
- Voise mercantilism may be through with AnyOption or one-touch possibility. As an example, the present well-liked currency pari is BTC/USD. 

SetOption - the newest possibility offered for quality mercantilism is VOISE/USD. Voise brokers give an easy mercantilism on-line platform. All you've got to try is visit their website, enter your details and create an account. 

The mercantilism screen is easy

Voise network is probably the world's large unfold computing project. The first common weakness here is that the user errors. Voise files will wander off, get stolen, or deleted but with the Voise system precautions are taken so this won't happen. 

This decentralized currency uses peer to peer technology which permits common currency issuing, verification, and transaction. A single network collectively accomplishes the processes involved in online money transaction. Bitcoin is free from any external interference and even government regulations. 

More information:

Announcement 
ICO Website 
Whitepaper 

Secure VoIP and B2B blockchain communications infrastructure with EncrypoTel

The whitepaper tells more about the solutions that Encryptotel has offered to the problems and challenges we have been experiencing in the communication world. Encryptotel has made the Whitepaper freely available to everyone to download from their website. The aim of the whitepaper is for you to know the scope and vision of EncryptoTel and it's application that allows users to make VoIP calls and connect using various devices such as Android SIP, 3CXPhone, Zipper, xlite and much more). However, with the help of new technology and Artificial intelligence, Encryptotel has identified many challenges in the communication network and offers solutions in a way that will suit your needs. So when you download the Whitepaper for knowledge sake, you will be fully be updated on how EncryptoTel is the solution to VoIP calls and secured communication. 

We know that Telecoms market is one of the fastest growing sector leading to a reduced usage of legacy telephone system as new internet based technology are expanding and offering more significant services at a little or no cost and greater convenience compared to the older legacy telephone system. You can now communicate by video chat via Skype, Facebook and other platforms with your internet enabled smartphone at no cost. Now companies like EncryproTel of the new internet based technology has continued to flourish due to the high significant and convenient benefits they contribute to the Telecoms Market. 

So what makes EncryptoTel Different?

Let's go back a couple of years when services as Skype run the market. Be it for personal or business use, using Skype was the standard. For Voice over IP, but also Video over IP. The development as it is is good and with faster internet is works. We can't deny that. However the major disappointments of services like Skype or WhatsApp are also there. 

Be it a regular or less frequent user, you can't deny the fact that your privacy is at risk. At any moment your information is open to the public. Hackers can easily navigate through online directories and find handy user information. With EncryptoTel that belongs to the past. Users can now do the same kind of things like before, but it's way cheaper, stored in the Blockchain and from now on you won't have to worry about your privacy. EncryptoTel allows users to be 100% anonymous, by providing handy tools to keep your privacy and more. 

With EncryptoTel you will be able to pay as you go for services like calling, PBX etc. There is no Limitation as to where you can use it. Be it for your company or personal usage, the services EncryptoTel offers are multi platform. So there is no need, for buying an iPhone, android etc. With EncryptoTel it's even possible to integrate it with very popular messaging services like Telegram and Facebook Messenger. 

Features of EncryptoTel

Conclusion

People tend to forget the importance of Encryption, and how surprisingly, the main feature of EncryptoTel is encryption. The Whitepaper shows us that the software will used encryption based on SIP/TLS technology for both service as client side applications. With that in mind it's seems to me personally the promise of this project, having seen so many crowdsale's is truly different. It's attracting a totally new market and when it succeeds, it can count on a userbase 

More information:

Website 
Announcement 
Whitepaper 

Aeternity Smart Contracts and more

There are already a number of blockchain solutions on the market now but one that you might have probably not heard of is Aeternity, and it is here to stay too. When this new blockchain first showed up and started making waves in announcements and press releases, it looked like just another one of those coins and blockchains that tried and strived but couldn't stand the test of time. Since there has not been a slowdown in the momentum at which this blockchain is being developed, so much that it is being let out in something of a beta stage now, it is worth a review. 

WHAT IS AETERNITY?

The Aeternity Project is one which was started by founder Yanislav Malahov, and this platform makes a lot of bold claims. One of the main selling points behind this project is the creation of a platform that would enable for both safe- and secure transactions in the real world via a system of smart contracts. It has also made the claim of being highly scalable, a promise which it is said to have achieved by using Turing state channels. This would make it way easier to analyze the smart contracts and also, keep the security of the platform top notch. 

HOW DOES AETERNITY WORK?

Well, if you have been conversant with blockchain processes before now, what Aeternity does is not really rocket science when compared to that. Although it has it's own edge, it still does build on the existing infrastructure of the blockchain market. on the Aeternity platform, the transactions are made with specialized tokens which are called alllaeons" (and denoted as AE). They also serve as the basis of any application which is implemented on the overall platform. The Aeternity platform would be managed by accounts which not only have a balance to it but an associated address. On top of that would be super-imposed an alias — a form of naming system to identify each and every account. 

WHAT MAKES IT SPECIAL?

Okay, we have been telling you how this looks like the basic blockchain programme, but not what makes it different. It'is not enough to want to launch a new project if it won't stand out from the rest, and Aeternity does this well too. For one, the smart contracts can only exist inside of the chain state channels, ensuring that the code of contract is enforced by the blockchain even when a disagreement arises. Likewise, there is a form of unique governance in play which ensures that miners can vote alongside value-holders when important decisions are to be made. 

"Like many other blockchain services, there is the issue of privacy, and Aeternity takes the game a step further for those that really want to stay anonymous at all costs.

Security has not been traded for anything and the developers hope their relatively low costs would be enough incentive to get people to do business with them instead." 

CONCLUSION

This is a new venture and we always want to look out for things to stand the test of time first before we delve in. Aeternity has been around for a while (although relatively little time when compared to other blockchain services) but still, that doesn't diminish the fact that it is making an identity for itself in the market. For now, we can just wait and see where the takes their A-game to the network of blockchain solutions on the market.