Fetch.ai most anticipated ICO of 2019 ?

Fetch.ai most anticipated ICO of 2019 ?

Recently Fetch.AI, the decentralised infrastructure for deploying digital representatives ‘Autonomous Economic Agents’ has completed a successful token sale via Binance Launchpad.


69,179,855 FET tokens were sold in just 22 seconds with orders pledged by nearly 20,000 people. Of those orders 2,758 separate contributors successfully bought FET tokens with orders processed by Binance in roughly 10 minutes. The sale raised $6 million for the Fetch.AI

At 14:00 UTC on Monday 25 February 2019 Binance Launchpad opened its doors to FET contributors for a single session where contributors could exchange Binance’s native token, BNB, for FET. Each FET token was priced at 0.0867 USD with a maximum allocation of $3,000 per contributor during the sale.

According to our sources, FET is going to be listed in almost all popular exchanges, and as said by the Fetch.ai team that announcement regarding exchanges will be made in due time.

March is going to be a FET month for sure, currently FET is being traded at almost 4.5 times the ICO price. But it maybe break some old records seeing the hype and further listing of various Top-10 exchanges.

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 :-
–  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

Silent Guide To Consensus Protocols

Silent Guide To Consensus Protocols

Why Bitcoin is different from other currencies? Why the information that is stored and processed “on-chain” is considered to be “more reliable”?

The answer for these basic questions is usually some kind of curiosity-killing fog of buzzwords. Can we get beyond the fog and get an actual understanding of the answers to these “why”? You are welcomed to find out.

The first key concept to understand the buzzwords is the concept of “Decentralized networks”. Centralized network is a network that has a single access point to control the network. “Decentralized” means that instead of having a single network administration node we have a script that gathers “votes” from entire network and then governs the network decision according to the vote results.

This script is called “consensus algorithm”.

One quick recap – a decentralised network (like Bitcoin blockchain) is a network that operates with a consensus algorithm instead of a central access point.

If you do a bank transaction then bank server decides whether the transaction is legit.

But in a bank there is always an administrator capable to interfere with software algorithm and change database entries and transaction outcomes. Administrators are humans and humans are not secure elements of the system.

A decentralized network has no single human administrator, even though every node of the network has one.

So how exactly does this magical consensus algorithm takes us from a bunch of non-trustworthy network nodes to a system, whose consensus we can trust?

Computer scientists and decision theorists tackled this issue long before Blockchain became a thing. There are many ways to solve this problem but we will focus on the solution that is used for cryptocurrencies.

A common problem of any distributed system is where any part can give wrong output and still behave like it’s properly functioning. And the system needs to figure this out and fix it. There is a name and a cool story explaining algorithm for that kind of problems.

The metaphor is called Byzantine generals’ problemand its fable goes like this:

Once upon a time a Byzantine  army besieged a town.

The Byzantine generals had to decide whether they attack or hold their ground.

The decision has to be coordinated: if the army would attack all together then they would win;  if they held their ground together, well…at least nothing terrible would happen!

But if some generals would attack while other generals were holding their ground then attackers would be overwhelmed and routed, which would be a disaster for the whole empire!

Back in the days there was no such thing as an army HQ where all generals could gather and make the decision. Therefore the generals had to vote by mail with the majority of votes and decide if everyone attacks or not.

Each general would send a mail to all other generals with his decision. Then the generals count the mails for attack or defence and do whichever option won the vote.

Now we spice things up with why exactly this whole enterprise is Byzantine. Byzantine Empire had a very corrupt army. Some of the generals could be bribed to sabotage the voting process and lead the entire army to a disaster.

What is the optimal way for the traitors to sabotage the voting process? Just send “Attack!” mail to one half of the generals and “Hold Position” mail to the other half.

And that is enough to wreak havoc since everyone will have a different picture of the voting.


How do the loyal generals can account for that?
They still have a trick in their sleeve (under their toga?) to increase the number of traitors needed to cause a disruption. What do they do?

The generals decide to modify the mailing vote algorithm. Now they do it this way:

  1. Each general sends his vote to every other general.
  2. All generals count the votes they received from each other and write them down on a spreadsheet where they point out who voted for what.
  3. All generals make a copy of this spreadsheet and send it to each other.
  4. All generals check the spreadsheets they received from each other and check if everyone else has the same picture of voting.
  5. If the voting spreadsheets are consistent then count the votes and come up with a decision.
  6. If the voting spreadsheets are inconsistent – then look who’s votes deviate from one spreadsheet to another. Those are the traitors. Exclude them from the voting count and go to step 1.
  7. When agreed save all the voting documents with their results in a chest that is called “block”. Therefore a sequence of all successful “blocks” lying in a row look like a chain of blocks = blockchain.

Long story short, if there is less than one-third of the traitors then the generals can use this voting algorithm and come up with an agreed decision.


Want to know more about that? Here is an in-deep mathy look at the problem.

This way of counting votes and figuring out who misbehaves is called “Byzantine consensus”. If any system uses this model then it is called “Byzantine fault-tolerant system” or BFT system. It means that this system will provide a correct output if less then (33.333…%+1) of it’s elements are compromised.

Bitcoin is a BFT system… With several tweaks.

Imagine you are Satoshi Nakamoto who designed the world first blockchain: you have implemented Byzantine consensus into your software for Bitcoin network.

First issue is… you have to somehow motivate people to donate their computing power into your network.

So let there be mining! Mining is paying salary to the generals for doing their voting stuff. Except instead of generals we have here wallets of people who own mining farms that do the calculation. Also we could have some owners of mining farms who try to double spend their BTC as the possible traitors. The reward from mining comes in two sorts: a small transaction fee that network users pay when they do transactions and one new BTC that is created every voting cycle and dropped into a wallet of a randomly selected miner.

But with this mining and growing network we will eventually face another problem is inflation. The more people joins the network the higher computing power of the network the faster the voting goes and number of bitcoins growing at an accelerating pace reducing it’s market value.

How do we fix this? Well… Satoshi came up with a two step solution.

  1. The number of Bitcoins (and many other altcoins) ever to be mined is limited. The limit for BTC’s is 21 million. After the last one has been mined – only transaction fees remain.
  2. The complexity of mining scales with the computing power of the system. This complexity scaling is called proof of work.

How this proof of work thing works? Let’s get back to our Byzantine generals metaphor. Because it’s so fun to use.

  1. Now there are no generals. Everyone can vote.
  2. To vote, you need to pass a test.
  3. There is a new test for every voting round.
  4. The more people want to vote – the more complicated the test becomes.
  5. If you managed to pass the test and then do the BFT-voting thing – you will be awarded.
  6. Your award is proportional to how good were you with your test score compared to other people who take the test.

This algorithm is called Byzantine Proof of Work or just PoW for short. Proof of work is a consensus algorithm that is used by Bitcoin, Ethereum and… well… by the majority of altcoins for now.

The major issues with Byzantine Consensus for our first blockchain  are solved with Byzantine PoW. Miners are rewarded for computing power they donate. The more computing power they donate the more they are rewarded and reward vs inflation is dynamically adjusted.  There is only one minor issue remains…

Can you see it?

The rules of PoW consensus algorithm create incentives for an arms race amongst the miners. Having more computing power to solve the PoW test means more rewards for you and less rewards for everyone else who mines. So miners are very incentivized to improve their hardware to solve PoW tests as efficiently as possible. The majority of miners simply can’t afford R&D of new mining hardware and the chosen few owners of ASIC (computers specialized to solve POW tests) data centers remain in business of mining. Which means our decentralized network becomes less decentralized and most of power it uses is wasted to solve pointless puzzles instead of doing something useful. Every big enough PoW blockchain network is either in that state or heading there.

Is there a way to do better? Well… Kind of.

Instead of running the tests we can use old good net worth census.

The rules for this new consensus algorithm are following:

  • No time wasting tests
  • Everyone who is rich enough can vote
  • Everyone wanting to vote attaches his money to his vote mail. This is called “Stake”.
  • Your vote value is proportional to your stake value.
  • If the vote counting finds out that you are a traitor – you lose your stake.

This consensus algorithm is called “Proof of stake” or PoS for short.. So… use that and everyone will leave happy ever after? Well… Not exactly. Proof of stake also has it’s problems. One of them is Proof of Stake system is very vulnerable to traitors trying to overtake it with their votes.

The attempt to solve this issue is yet another consensus algorithm that is called “Delegated Proof of Stake” or dPoS.
The rules for “dPoS” are:

  • Except networth census there is also competence census to vote. It’s not automatically scaling puzzles. Just some bottomline requirements for computing power and bandwidth you need to meet to be accepted for vote.
  • If you don’t meet this requirements – no problem! Just pick a trustworthy guy among the current voters and make a stake that he will vote properly. You will gain some rewards for confirming transactions by your stake.

This is what EOS has implemented and what Ethereum is going to implement. Also this is a consensus algorithm for our upcoming Chain In Law network.

Anyway, if you read up to this point then you have a remarkable attention span and you learned about how Blockchain works and why it is valuable where we need trust.

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.


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