Crypto exchange Sonata.ai is getting ready to hit the road

Crypto exchange Sonata.ai is getting ready to hit the road

Crypto exchange Sonata.ai is getting ready to hit the road

Sonata.ai, is the next-gen cryptocurrency exchange in the making, they are completing their plans for an extensive road show. The planned road show will be in Europe and Asia and it will start in the second half of January 2019, it will be covering multiple crypto and fintech oriented events like Crypto Investor Show in Manchester or Chain Plus+ in Seoul. The team at Sonata.ai is also currently scheduling private meetings with investors. The main topic of the presentation will be the security token offering of SONT token.

 

Follow Sonata.ai on Media, to see the road show plan, first-hand: medium.com/@sonata_exchange

ICOs are still with us

As the regulations gradually will clarify the potential legal issues of the new decentralised economy, we are witnessing new opportunities in the crypto world. We can see a growing interest of what were previously hesitant users. Others, who have feared the grey zone are now at least considering the option to jump on-board. Many have predicted an end for ICOs already during 2017. But by the end of 2018 the industry is smarter, more proficient and ICOs are still here. The year 2019 is looking to be very optimistic as many capable projects are rearing to go.

Although ICOs were (until quite recently) fully in the hands of utility tokens, the year 2019 seems that it will belong to security token offerings. The excessive abundance of utility tokens represents an idea contradictory to what we see in the real world. Most people want to use cryptocurrency as ordinary money, without the need to exchange between hundreds of coins. They want to take advantage of the security and versatility which crypto can provide.

Security tokens lead the way

Another type of token offered by initial coin offerings are security tokens. STOs (security token offerings) can be embraced by investors who understand that not every monetary interaction should have its proprietary token. There is just no natural demand for “sexcoin”, “potcoin” or “breadcoin”. These coins are used just for mere speculations, although they are promoted as a digital counterpart to money.

Security tokens are closer to stock. The stock market is real, it is an important part of the global economy and has existed in some form since almost the 15th century. An easy way to recognise a security token from any other type (e.g. utility or equity token) is to take the Howey test. The security tokens can establish an investment contract with contributors, who on the other side can anticipate future benefits in the form of dividends. Dividends can be represented as a revenue share or as a price appreciation.

Minefield worth venturing to

These days, it is challenging to navigate the legal minefield of security tokens. Even acquiring a proper licence to be able to sell security tokens on crypto exchange takes a long time in months. The prices for legal services and licences are tremendous. Although countries like Malta, Gibraltar and Switzerland are building legislative frameworks for new companies to operate, there is still a long way from achieving a smooth boarding process.

We got the cold shoulder in Czech Republic. There is no official procedure or licence that would allow us to offer our tokens there. Our lawyers suggested to try it out in other crypto-friendly countries and that seems to be a valid way to do it. Now it’s just a matter of time.”, says the main investor and CEO of Sonata.ai, Eduard Sedlmajer. The company is pushing forward to acquire all necessary legalities to provide trading of STOs on its platform.

Sonata.ai to take advantage of STO

Sonata.ai is a crypto exchange created in co-operation with brokers and Forex analytics. The platform is built on a security-first approach and offers advanced AI features to improve overall user-experience. Sonata.ai’s own security token SONT will reward it’s owners with 80% from all collected fees. These rewards will be sent to registered supporters once they pass the KYC procedure.

In addition, Sonata.ai is currently working on its way to become full STO trading framework – an exchange market for security tokens. This, in combination with the aforementioned revenue model, makes it a perfect example of an STO with great prospects for the future.

Platform that delivers

Sonata.ai is being co-created together with active traders. The focus point of the designers is to create a straight-forward interface with a minimalist concept combined with a functional approach. The exchange also offers margin trading for its users, a feature much anticipated by token holders. Margin trading is a way to multiply a traders’ profit in the case that a trading operation is successful. The team of Sonata.ai is perfecting an AI-based system, that will automatically pair lenders and borrowers and close the trade before the lender gets himself to the red numbers

Main features of Sonata.ai:

  • Unprecedented security on cold storage.
  • Built to perform at every level.
  • Margin trading protected against a negative trade.
  • Social network elements, including chat rooms.
  • AI-based price prediction.
  • AI-based trading assistant.
  • Bot-friendly API.
  • Simple and transparent listing of coins and tokens.

The finished exchange promises to be a seamless trading experience with long-term profit for both brokers and holders. The platform will be officially launched in first half of 2019. For more information about Sonata.ai please check out and peruse our webpage www.sonata.ai.

For media inquiries, please contact Radim Bastan at radim@sonata.ai. If you would like to meet with a representative of Sonata.ai during the January tour, please send an email to Tomas Prochazka at tomas@sonata.ai.

Ethereum’s Network Upgrade via Hardfork : Constantinople !

Ethereum’s Network Upgrade via Hardfork : Constantinople !

Ethereum’s open-source development team announced a Hardfork at Block 7,080,000 ;which might be around 16th January, 2019,which was earlier to be scheduled in October,2018.

Key takeaways of the Hardfork in laymans terms :-

  1. It’s a network upgrade, no new coins to be generated.
  2. Reducing mining rewards from 3 ETH to 2 ETH.
  3. Reducing ETH’s inflation
  4. For Scaling  network.

Its expected that this Hardfork is going to improve the Ethereum’s Network exponentially.

FOR updates check out twitter handle of the Constantinople lead team https://twitter.com/5chdn/status/1079095325325955073

 

YouTube’s Blockchain Rivalry is here !!

YouTube’s Blockchain Rivalry is here !!

Rival of Youtube !! Yes you heard it right; a South Korean Crypto Company named SUCON came up with  SU-WORLD; a online media contents streaming platform.
SUCON literally means ‘ SUPER CONNECTION ‘ and ready to be  the intermediate fulfilling the objectives of SUCON.

SU-WORLD  definitely compensates the content creators with SU-COIN , but interestingly viewers will be paid for watching and commenting ; which would make the platform more engaging and all rewards would be based on SU-COIN and the market it attracts. As the advertisers can select their form and design to get their target audience and furthermore help themselves for legitimate marketing.
For Miners there is a innovative method ‘ Storage Renting System ‘ which would compensate miners for storing the various media contents.
These days major advertising-driven platform like Facebook and Google  are phasing out ads for cryptocurrencies, shielding themselves from potential legal liability, if the ads are scams or the digital coins are eventually regulated as securities. Video creators with an interest in cryptocurrency say that’s also a factor driving them away from the big names.Platforms like SUCON are decentralized ,keep more power—and potentially, privacy—in the hands of creators and users. 

◆ Just the creation of SU-WORLD by SUCON  solved following problems :-
1. SECURITY
–  No chance of hacking with the help of DLT.
2. Eliminating need of Big Data Center
– With ‘ Storage Renting ‘ for miners.
3. Copyrights protection
– All Transactions on Ledger.
4. No Brokers
– Decentralized and P2P interaction.
5. Commission Free Platform
– Creators/Viewers well compensated .
6. Ultra High-Speed
– Thanks to the DLT of transactions.

Creators can expect to retain significant control with blockchain sites because there are few barriers if they decide to leave, Like email, it’s relatively easy to switch to a similar site if one doesn’t likes. And because of the decentralized nature of SUCON, tech-savvy users can find ways to post controversial material, even if he tries to block or ban it. With blockchain, people will finally have the chance to be rewarded for their time, attention, and data. No longer will their valuable data be controlled by a few giant companies.

Check more at www.sucon.io

Blockchain Technology for Fintech

Blockchain Technology for Fintech

Implementation areas, opportunities & challenges.

Fintech is here to stay. Why? To put in short, fintech is

changing conventional finances using technology to improve financial services provided to end customers.

 

The world has welcomed the Fintech industry with open arms. The total value of the global investment into the fintech industry has grown from approximately $1B in 2008 to about $24B. Still, over the last several years, investment in fintech has been on the rise. The global market is expected to grow at compound annual growth rate (CAGR) of 54.83 percent between now and 2020.

 

Below you can find five conventional areas of financial services, where a significant amount of innovations occur:

  • payments and money transfers;
  • borrowing and lending;
  • capital management;
  • insurance;
  • currency.

The blockchain money (r)evolution

According to PwC Global FinTech Survey 2017, implementation blockchain in the business will not occur overnight. But the report also quotes that 77 percent of its respondents expect to adopt blockchain by 2020.

 

“Blockchain technology and cryptocurrencies are on the way to rewrite finance industry and drive it forward. The area is moving beyond the hype, more and more business use cases of blockchain appears and makes a success. What we can expect from future are crypto regulations for ICO market, cryptocurrency exchanges and traders. It may hurt the industry in the short perspective. But in the long run, it will bring trust and certainty and have a positive outcome for the industry.”

 

— Mike Rozhko, CoinLoan Business Development Manager

The Opportunities of Blockchain Adoption:

  • Digital assets. Blockchain gave us digital property, that can’t be copied or stolen directly. It offered reliability that has never been available on the Internet.
  • Cryptocurrencies. It’s an opportunity for individuals to have full control over their money, cutting out the third party.
  • Transaction record. Blockchain keeps an audit trail of each transaction and the details of the parties involved.
  • Smart contracts. They can ensure the fulfillment of obligations of both parties before the completion of a transaction or agreement. It enables peer-to-peer distributed models.
  • Transaction speed. Traditional payments system is one of the most intermediated markets in the world, with lots of checks and requirements. Crypto transaction doesn’t take long. Average speed for Bitcoin network is 78 minutes, for Ripple is 4 seconds and for Litecoin is 30 minutes.

The Challenges of Blockchain Adoption:

  • Regulator uncertainty. There is currently a variety of rules across different countries and regulatory agencies.
  • Novel tech. Blockchain remains at a relatively early stage of development with most projects still at the start and limitations haven’t tested yet.
  • Standardization. Lack of generally accepted technical standards between blockchain network designs can lead to the integration problems.
  • Security risks. Blockchain has a potential to strengthen cybersecurity, but creates new cybersecurity risks as well.
  • Huddle of ideas. The Crypto World uses its own vocabulary, that can be confusing for newcomers.

 

The Rise and Rise of Cryptojacking: What You Need to Know

The Rise and Rise of Cryptojacking: What You Need to Know

You’ve probably heard of cryptojacking by now, otherwise known as illicit cryptocurrency mining. But oftentimes, we think that cybercrime affects large companies or that hackers only target important or affluent people. But here’s the thing about cryptojacking: it doesn’t discriminate on social or economic grounds.

According to a study by Switchfast Technologies, small companies are actually a higher target for hackers. In contrast to common misconceptions, as long as they can make money, any company–or individual–is ripe for the taking. The absence of dedicated security personnel makes it easier for hackers to infect devices with malware, phishing, ransomware, or crypto mining botnets.

Here’s a scary fact for you: 60 percent of small firms that suffer an attack go out of business within six months. And here’s an even scarier one: one in three small business owners have no safeguard in place to prevent a cyber attack. So for those of you surfing the net without taking proper precautions, it’s about time you did.

The Unstoppable Rise of Cryptojacking

A few things you should know about cryptojacking:

  • In 2018, cryptojacking became the largest cyber threat, knocking Ransomware off the top spot.
  • Already, according to some sources, one-quarter of all companies have been victims of cryptojacking.
  • In Q4 of last year, cryptojacking incidents skyrocketed by 8,500 percent.

Those are some pretty eye-watering statistics. In fact, earlier this year, we reported that cryptojacking was becoming an epidemic. But despite a temporary downturn in illicit cryptocurrency mining from March to July of 2018, cryptojacking looks to be gathering momentum fast.

According to a report by Kaspersky Lab, Ransomware attacks are on the decline because they aren’t sustainable. Cryptojacking is becoming so popular because it can go on for long periods of time without the victims even knowing.

Moreover, cryptojacking can take place on multiple devices, not just on your laptop or desktop. Think servers, mobile phones, and even IoT devices.

Currently, mobile mining isn’t profitable enough for an individual to do. But deploying thousands of mining botnets to mine on multiple devices over a long period of time is. According to Kaspersky, countries that are particularly at risk when mobile mining takes off are India and China, as they own approximately one-third of all mobile phones in the world. Remember, cryptojacking is indiscriminate.

Taking a Little from a Lot

Unlike a money heist or a one-off, high payout Ransomware attack, cryptojacking takes a little CPU from a lot of people. You may even argue that it’s a low-priority cyber threat since the perpetrators aren’t after your money or data. However, they are making a lot of money–and it’s costing its victims their electricity.

So, think huge power bills, batteries that drain quickly, computers overheating, and a bunch of small business servers mining Monero rather than working at full capacity. In fact, Monero is the most illegally mined cryptocurrency with around 5 percent of all Monero mined illicitly.

Even more important is that the vector for the malware is the same. If your network is vulnerable to cryptojacking, something more serious could easily breach your system, potentially putting you out of business.

In most cases, cybercriminals develop cryptojacking software in such a way that it only uses a small amount of CPU, such as with The Smominru Miner. Over a period of roughly six months, the giant botnet cryptojacked multiple devices and mined over $3 million of Monero.

However, in other cases, criminals foolishly ramp the CPU up so high that they damage the devices or alert the network, such as with the Siacoin Internet Cafe hack.

How Do You Get Cryptojacked?

In-Browser Mining

There’s more than one way to become a victim of cryptojacking and it isn’t necessarily by unwittingly downloading a malicious code. Through in-browser cryptocurrency mining, your device could be mining cryptocurrency just by visiting an infected website. In March of this year, almost 50,000 websites were found to be infected with malicious mining code; among them the UK government’s official site!

The majority of these websites are infected without the site owner knowing. However, in some cases, website owners are using in-browser cryptojacking as an alternative revenue stream to advertising.

Tipeeestream, for example, a site that allows for tipping of live streaming content, allows users to activate in-browser cryptocurrency mining as a means of supporting the content creators if they wish.

The Pirate Bay, on the other hand, sparked controversy and disagreement from its users when they embedded mining botnets in their website to experiment over its profitability. Users noticed that their devices became overheated after leaving their browsers open for a while.

In the case of The Pirate Bay, cryptojacking only occurred when the adblocker was switched off. Using an adblocker or a plugin like NoCoin for your Chrome or Firefox browser can help to protect your device. Although, according to research by RWTH Aachen University in Germany, NoCoin isn’t really up to the task. In fact, as much as 82 percent of infected sites still go undetected.

Coinhive is by far the most popular vector for in-browser cryptocurrency mining, with some 75 percent of infected sites using it. And RWTH research revealed that Coinhive currently mines slightly more than 1 percent of all Monero blocks (approximately $250,000 per month).

Despite these stats, there’s relatively little to worry about with in-browser mining. Simply close your browser and the mining will stop. Downloading malware to your device is more problematic.

Downloading Mining Botnet Malware

If you download cryptocurrency mining malware to your device, you’ll need to remove it as soon as possible. Just like in-browser mining, using an adblocker, antivirus, or plug-in can help but are not always effective.

You can download cryptojacking software in many ways – clicking on a phishing email, a malicious advert, or using a free content management system (CMS) like WordPress.

Research from RiskIQ found that one of the largest vectors for mining malware is a CMS. There are over 13,000 WordPress plugins among Alexa’s most popular sites. Of those, around 3,400 flagged up critical vulnerabilities that could allow mining botnets in.

Video games can also be a problem, with popular digital game marketplace Steam pulling a game after it was accused of being a “cryptocurrency mining scam.”

Victim of Cryptojacking? Here’s What You Should Do

If you find your device running poorly, your fan kicking into overdrive, or your battery lasting way less time than usual, you may be under attack. And you should probably get your device checked out before your power bill confirms your suspicions.

If you are a victim, take heart, crypto mining malware is easy to remove. It’s also only after one thing: your CPU. So, you don’t have to worry about your data or confidential information.

Companies that find themselves cryptojacked, however, should look upon it as a serious wakeup call. And–if they’re like one-third of all small businesses with no cybersecurity plan in place–should quickly devise one before a more malicious actor comes in and puts them out of business.

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