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    Bancor

    Bancor Protocol is a standard for a new generation of cryptocurrencies called 'Smart Tokens'. This enables any token to hold one or more additional tokens as a reserve. Bancor Network is an initiative of the Bprotocol Foundation, a nonprofit organization based in Zug, Switzerland. The Foundation has a research and development center based in Tel Aviv, Israel.

    What is Bancor?

    Bancor is based on the concept of ‘super national currency’ proposed by John M. Keynes. According to Guy Benartzi, CEO, Bancor is a way to utilize Keynes’ concept that would help facilitate the trade of different currencies with each other. The Ethereum smart contract provide the needed decentralized platform for user-generated programmable currencies (tokens) that inspired the team behind Bancor to design the Bancor protocol. It creates relationships between those tokens and allows conversion of the tokens without any central authority.

    What is a ‘Smart Token’?

    A Smart Token can hold (and trade) other cryptocurrencies and enable any party to instantly purchase or liquidate the smart token in exchange for any of its reserve tokens, directly through the smart token’s contract, at a continuously calculated price, according to a formula which balances buy and sell volumes. It allows the smart token’s contract to serve as its own market maker, automatically discovering it’s own price(s) and providing liquidity to other currencies, thereby removing the need for a second party in cryptocurrency trades. Every smart token is always liquid at some price point.

    Bancor Network Token

    The BANCOR network token will hold a single reserve in Ether. Other smart tokens, by using BANCOR as (one of) their reserve(s), connect to the BANCOR network.

    The BANCOR network token forms a monetary structure where increased demand for any of the network’s smart tokens drives up the value of the common BANCOR token, benefiting all other smart tokens holding it in reserve.

    What is the Bancor Protocol?

    The Bancor protocol enables built-in price discovery and a liquidity mechanism for tokens on smart contract blockchains. These “smart tokens” hold one or more other tokens in reserve and enable any party to instantly purchase or liquidate the smart token in exchange for any of its reserve tokens, directly through the smart token’s contract, at a continuously calculated price, according to a formula which balances buy and sell volumes.

    What is a smart token? And how is it different from a regular ERC20 token created on Ethereum?

    Smart tokens are compatible with the ERC20 standard and can be used by any software that supports this standard, such as Ethereum wallets. However, smart tokens offer additional functionality not available to regular tokens.

    • Each smart token holds a reserve balance in one or more other ERC20 tokens, thereby enabling anyone to exchange between itself and any of its reserve token(s).

    • The smart token’s smart contract issues new tokens (expanding the supply) to anyone who purchases it with any of its reserve tokens, and withdraws tokens from the reserves (contracting supply) for anyone choosing to liquidate the smart token.

    • The price of a smart token vis-a-vis any of its reserve tokens is calculated as a ratio between the current smart token’s supply and its reserve balance, at the pre-set CRR (Constant Reserve Ratio.)

    • Essentially, a smart token’s price will always strive to balance supply and demand for the smart token, meaning that when it is being purchased, the price is climbing, and when it is being sold, the price is dropping, in relative proportion to the respective transaction sizes.

    White paper is available for more detailed information about these formulas and their proofs.

    Complementary Currencies, Business Loyalty Point Programs, Token Baskets (i.e. decentralized ETFs or Index Funds), Content Creators, Crowdsales, Token Changers are some of the use cases for Smart Contract.

    Project Overview

    For more updates, technical blogs and general discussion on Blockchain Technology and Ethereum, please join us at our Website, reddit, Facebook, Medium, steemit and follow us at Twitter. Please feel free to share this post, email us with your suggestions and connect at LinkedIn.

    #blockchain #cryptocurrency #ethereum #ICO #bancor

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    New Hampshire protecting virtual currency from regulation

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    New Hampshire becomes another state for Cryptocurrency lovers after HB436 is passed on June 07, 2017.

    House Bill 436 was filed early this year. As per the text,

    Virtual currency means a digital representation of value that can be digitally traded and functions as a medium of exchange, a unit of account, or a store of value but does not have legal tender status as recognized by the United States government.

    The bill also creates an exception from money transmission requirements for "persons conducting business using transactions conducted in whole or in part in virtual currency".

    Rep. Barbara Biggie and Rep. Keith Ammon are primary and Cosponsors of the bill respectively. The bill passed the initial house voting with 185 Y, 170 N, conducted in March 08, 2017. The ratio was almost same in Senate voting too with 13 Y, 10 N conducted on April 20, 2017. HB 436 was then signed by Governor Sununu on June 02, 2017 and will be effective from Aug 1, 2017 in the state. The news was originally published in Free knee.

    For more updates, technical blogs and general discussion on Blockchain Technology and Ethereum, please join us at our Website, reddit, Facebook, Medium, Steemit and follow us at Twitter. Please feel free to share this post, email us with your suggestions and connect at LinkedIn.

    #cryptonews #blockchain #USA #NewHampshire #bill436

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    Using blockchain contract becomes easier in Nevada, USA

    Nevada has finally become the first state of the United States where a local government will not be able to impose taxes on the use of a blockchain contract by a person or business. As per public record, Gov. Brian Sandoval has approved the Nevada Senate Bill 398 as of June 5, 2017.

    Nevada Senate Bill 398 was introduced in March 20, 2017 by Senator Ben Kieckhefer. In addition to prohibiting local government from imposing tax on blockchain contract, this bill also allows any person or business to utilize a blockchain contract without any certificate, license or permit. Local government entity can not impose any other requirement with regards to the use of blockchain contracts.

    After a few amendments, it was read for the third time in senate on May 26, 2017 where the bill was approved unopposed by 41 votes in favor. Finally, this blockchain related senate bill 398 got approval of the Governor and is a state law now.

    For more updates, technical blogs and general discussion on Blockchain Technology and Ethereum, please join us at our Website, reddit, Facebook, Medium, Slack and follow us at Twitter. Please feel free to share this post, email us with your suggestions and connect at LinkedIn.

    #cryptonews #blockchain #USA #Nevada #bill398

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    Status Global Hackathon (June 3, 2017 - June 10, 2017)

    Status, the mobile Ethereum network is hosting a week-long virtual hackathon that kicked off June 3, 2017 and will run through June 10, 2017. A hackathon is a marathon of innovation where teams and individuals come together to design and build something cool and compete for prizes.

    Hackathon Overview

    The purpose of this event is to gather valuable feedback from developers on ‘Status API’. Status wants to celebrate the launch of the API and is also looking for help finding bugs in the experimental 'Status API'. It invites for new and creative bots and DApps that have mainstream appeal and are built for mobile use.

    If you're seeking inspiration or have an idea you would like to give to the community, check out Slack’s Community Ideas doc.

    How to participate?

    • Join Status Slack Community - Updates are pinned in the Slack channel and also you can get your question answered by the community.

    • Submit Entry via Github - Slack is using GitHub for submissions. Right now, add your team's project as an issue. Then, edit it as you make progress. By the Pencils Down deadline, your issue should include everything on the template and you should make a pull request with your code.

    This hackathon is completely free to enter, and anyone across globe is welcome to participate. You can enter alone, or team up with another developer via Slack’s Teammate Finder doc or  Slack.

    You can register here for the hackathon.

    Rules

    1. The hackathon officially begins at the Kickoff event listed on the schedule. You have from that time until the Pencils Down event to work on your project. Before the Kickoff, you should not code your project. Prior to Kickoff, you can learn and practice with the Status API, discuss ideas, and find teammates.
    2. Do not make any modifications to your project after Pencils Down.
    3. You may only use preexisting code if it is already open source. That way, all teams have access to the code.
    4. If you are making an existing DApp mobile-compatible you must disclose that on your GitHub issue RSVP. Write “Existing DApp” for the Type. You will still be eligible for prizes.

    Prizes

    A total prize pool of US$25,000 is up for grabs, and will be paid out in ether (ETH).

    To be eligible for prizes, whatever it is you build, just needs to work inside of Status. A prize will be awarded for the “Best Mobile Conversion”. If you want to be considered for the First, Second, and Third prizes, then in addition to making your DApp mobile-ready, consider adding a feature that changes its experience in some way—perhaps using chat or commands in a way that Status allows that wasn't quite possible before.

    • 1st Prize: $10,000
    • 2nd Prize: $6000
    • 3rd Prize: $3000
    • + Prizes: 6 X $1000

    Schedule

    • Kickoff
      Saturday June 3rd 7:45am PDT
      10:45am New York, 3:45pm London, 5:45pm St. Petersburg, 10:45pm Shanghai

    • Hangout on Air
      API intro tutorial, answer questions about the hackathon. Begin coding your project.

    • Pencils Down
      Sunday June 11th 7:45am PDT
      10:45am New York, 3:45pm London, 5:45pm St. Petersburg, 10:45pm Shanghai
      The final due date to submit your project as a pull request on GitHub.

    • Winners Announcement
      Tuesday June 13th 7:45am PDT
      10:45am New York, 3:45pm London, 5:45pm St. Petersburg, 10:45pm Shanghai

    Winners will be announced in a blog post and live Hangout on Air, with recorded judges' comments.

    For more updates, technical blogs and general discussion on Blockchain Technology and Ethereum, please join us at our Website, reddit, Facebook, Medium, Slack and follow us at Twitter. Please feel free to share this post, email us with your suggestions and connect at LinkedIn.

    #Cryptonews #Ethereum #blockchain #Status #hackathon

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    What is Status?

    Status is Switzerland based company co-founded by Carl Bennetts and Jarrad in Oct 2016. It is an open source messaging platform and mobile browser to interact with decentralized applications (DApps) that run on the Ethereum Network. Anyone can list their DApp. As per the official website,DApps already listed with Status uPort, Gnosis, Oasis Exchange, Ethlance, Aragon, Etherisc and Ujo. Status is available in alpha phase for Android and iOS.

    It is built entirely on peer-to-peer technologies, and provides not only a medium for free trade and communication, but a window to access the decentralized world of Ethereum. It’s a real trustless, permissionless and decentralized systems with fair access that puts users control of their own data. White paper is available for read and suggestions.

    • Status is both a Web 3.0 browser, and a messaging platform.

    • Decentralized Apps at your fingertips : With Status your mobile device becomes a light client node on the Ethereum Network, enabling you to access Ethereum’s entire ecosystem from anywhere.

    • Smarter private messaging : Status is more than a messenger. Send payments and smart contracts to friends from within chats, and enjoy encrypted messaging by default, using a peer-to-peer protocol that doesn’t rely on centralized servers.

    • A community driven project: Status is built together with its users. It is completely open source and anyone is free to contribute. They are trying to govern a new type of network governed by its own users.

    Beta release is scheduled for Q2–3 2017, and will provide end-users with the following:

    • Encrypted Messaging — built on top of Whisper, enabling one-on-one, group chats, and social payments.

    • Ether Wallet —a built in wallet to provide ETH storage, send/receive transaction, a QR reader, and transaction logs.

    • Discover — a hashtag-based search where users can find other Status users, and other ÐApps, to discuss ideas or exchange goods and services. It will be left up to the individual user to decide if they want their profile to be discoverable or kept private.

    • Local P2P Exchange —In Beta release they will be introducing first ‘Default ÐApp’, which not only showcases what the platform is capable of, but can also provides their first business model. Users can find other Status users nearby to exchange fiat to ETH and vice-versa, for a small transaction fee.

    Project Overview

    For more updates, technical blogs and general discussion on Blockchain Technology and Ethereum, please join us at our Website, reddit, Facebook, Medium, Slack and follow us at Twitter. Please feel free to share this post, email us with your suggestions and connect at LinkedIn.

    #Cryptonews #Ethereum #blockchain #Status

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    The Token Hackathon

    The Token hackathon kicked off June 3, 2017, and will run through June 9, 2017, 10am PST, 2017.

    This hackathon is open to individuals and teams worldwide. It invites for new and creative bots and DApps that have mainstream appeal and are built for mobile use. You can register for the hackathon here.

    What is Token?

    Token was introduced on Apr 18, 2017 by Coinbase as a software application that runs on one's device (mobile phone) allowing user to access an open network. It is a combination of a private and secure messaging app, a user controlled Ethereum wallet and a browser for Ethereum apps.

    The Token Hackathon : Overview

    Brian Armstrong, Co-Founder and CEO at Coinbase, provided further details of the ongoing hackathon on June 4, 2017.
    They're especially looking for apps that:

    • Legal in your jurisdiction and portray Ethereum in a positive light.

    • Help bring financial services to the developing world.

    • Deliver value for non-technical people, especially those outside the crypto community.

    • Have a viral growth component (to drive adoption on a nascent platform) and a great single player mode.

    Read more about developing with Token at developers.tokenbrowser.com. There is a video that helps understand how to build a Token app.

    A Token Community Slack Channel is also created for discussions.

    What are the judging criteria?

    Judging will be conducted by a panel of industry experts -Joey Krug (Co-Founder of Augur), Fred Ehrsam (Co-Founder of Coinbase), and Juan Benet (Founder of Protocol Labs).

    Judges will be looking for apps that excel in these qualities:

    • Creativity

    • Positivity

    • Execution

    Prizes

    The reward of $25,000 worth of ETH is announced for the apps that best capture Ethereum expansion. There is an additional $25k prize from Boost VC for their favorite app.

    They will additionally be awarding 5 small prizes to projects that steal the show in one of these 5 areas:

    • Best bot personality

    • Best mobile-friendly dapp UI

    • Best pull request to Token repos

    • Best of societal value

    • Best branding

    If you are an Ethereum enthusiast and mean to learn more about Ethereum — this week is a great time to start.

    For more updates, technical blogs and general discussion on Blockchain Technology and Ethereum, please join us at our Website, reddit, Facebook, Medium, Slack and follow us at Twitter. Please feel free to share this post, email us with your suggestions and connect at LinkedIn.

    #Cryptonews #Ethereum #blockchain #Coinbase #Token

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    News

    Project updates

    • Aventus - Event ticketing solution

    • Lunary- Android wallet

    • Status - Announcing the Status Network

    • Streamr- DATAcoin whitepaper draft released

    Developer's Update

    ICO / Token sale updates

    Upcoming Events

    For more updates, technical blogs and general discussion on Blockchain Technology and Ethereum, please join us at our Website, reddit, Facebook, Medium, Slack and follow us at Twitter. Please feel free to share this post, email us with your suggestions and connect at LinkedIn.

    #Cryptonews #Ethereum #blockchain #FinTech #India #Russia #mysterium #geth #Bancor #Devcon

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    0_1496580885660_Russia and Blockchain.png

    Russia has been studying Digital Currency for quite some time. Russian government officials have been looking into the concept of the Blockchain Technology and it’s possible usage in economic. As reported by Russian local media on March 6, 2017, Russian Prime Minister Dmitry Medvedev instructed the Ministry of Communications and the Ministry of Economic Development to consider the possibility of using blocking technology in preparing the program "Digital Economy”.

    "In any case, this topic is really new and popular, I instructed the relevant ministries to the Ministry of Communications and the Ministry of Economic Development to consider the possibility of using these technologies in preparing the program" Digital Economy ", Said Medvedev.

    According to the head of government, large banks, corporations and even some states already use technology. He noted that Blockchain technology can help to get rid of unnecessary bureaucratization of business turnover.

    Russian President met Vitalik Buterin

    During the St. Petersburg International Economic Forum (SPIEF - June 1-3, 2017), Russian President Vladimir Putin met and talked with the founder of the Ethereum blockchain-platform, Vitalik Buterin, as reported on June 2, 2017.

    Buterin spoke about a possibility of use of these technologies in the Russian Federation and The President of Russia, suggested establishing business contacts with possible Russian partners, the Russian President's Press Secretary Dmitry of Peskov.

    Russia is planning to develop national cryptocurrency.

    Furthermore, Deputy Chairman Olga Skorobogatova informed about the development of a national cryptocurrency by The Russian Central Bank.

    "Regulators of all countries agree that it’s time to develop national cryptocurrencies, this is the future. Every country will decide on specific time frames. After our pilot projects we will understand what system we could use in our case for our national currency," Skorobogatova said at the St. Petersburg International Economic Forum 2017 (SPIEF-2017) as reported.

    Russia is ready to make Blockchain revolution a reality. Involvement of the highest level of government, has certainly raised the hope of it’s implementation very soon.
    Meeting of the President of Russia with the founder of Ethereum and the announcement of national’s digital currency by Central Bank of Russia suggests the acceptance of the Blockchain Technology at the next level. As anticipated, Russia once again proved itself to be standing among the world’s leaders in accepting and implementing technologies for the growth of the country at St. Petersburg International Economic Forum 2017.

    For more updates, technical blogs and general discussion on Blockchain Technology and Ethereum, please join us at our Website, reddit, Facebook, Medium, Slack and follow us at Twitter. Please feel free to share this post, email us with your suggestions and connect at LinkedIn.

    #Cryptonews #Ethereum #blockchain #FinTech #Russia #Vitalik #digitalcurrency

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    Geth v1.6.5 is a security released on June 1, 2017 to counter on ongoing attack on mainnet!

    • Use a bitmap instead of a hashmap to store the results of jumpdest analysis, and optimise analysis process (#14570).

    Binaries and mobile libraries are available on download page.

    For more updates, technical blogs and general discussion on Blockchain Technology and Ethereum, please join us at our Website, reddit, Facebook, Medium, Slack and follow us at Twitter. Please feel free to share this post, email us with your suggestions and connect at LinkedIn.

    #Cryptonews #Ethereum #blockchain #Geth

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    Basic Attention Token (BAT) ICO – an ‘electrifying’ crowd-sale!

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    Please follow the original article on Medium.

    For more updates, technical blogs and general discussion on Blockchain Technology and Ethereum, please join us at our Website, reddit, Facebook, Medium, Slack and follow us at Twitter. Please feel free to share this post, email us with your suggestions and connect at LinkedIn.

    #Blockchain #cryptonews #ethereum #BAT #bravebrowser #token #ICO

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