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The husband and wife duo behind  blockchain  project  Tezos  have faced their latest setback in an ongoing securities class action against their  $232 million  Initial Coin Offering ( ICO ), according to a docket report  published  August 7. U.S.  District Judge Richard Seeborg of the Northern District of California yesterday refused to dismiss plaintiff Arman Anvari’s suit against the defendants, which consolidates  various  prior class action suits filed by other Tezos contributors against Arthur and Kathleen Brietman, their firm Dynamic Ledger Solutions (DLS), and the Tezos Foundation.   The  controversial case  surrounds what Tezos’ creators claim was an online fundraiser, although the docket report chooses to adopt the term ICO “in deference to the language of the complaint,” while noting that the Breitmans were “careful to avoid characterizing the plan” as such.   The de...

A  PwC  Switzerland executive said that among the various types of digital assets, only digital currencies are can reasonably be used at present, according to a  post  on the PwC website July 31. In the post, Roland Stadler, Senior Manager and Data & Analytics Specialist at PwC  Switzerland , claims that while digital assets “seem similar at first glance,” on closer inspection they differ. Stadler makes a distinction between “digital assets” and “currencies,” because “only a few” can be considered currencies in the “literal sense of the word.” He then divides digital assets into three types; currencies like  Bitcoin  (BTC), utility tokens, and security tokens. According to Stadler, currencies like BTC are both a payment instrument and a payment network in equal measure, which can be used without the involvement of a central institution. Utility tokens are “fuel” for using sof...

A white hat hacker has discovered a major vulnerability in decentralized prediction market Augur, perhaps the most highly-touted decentralized application (dApp) built on the Ethereum network.   The bug,  disclosed  through bug bounty platform HackerOne by security researcher Viacheslav Sniezhkov, would have allowed an attacker to inject fraudulent data into Augur’s user interface, potentially leading to a significant loss of funds on the part of affected users.   This exploit was made possible because while Augur’s core functionality — an  uncensorable prediction market  that allows users to bet on the outcome of virtually any event — is secured by the decentralized Ethereum blockchain, UI configuration files are stored locally on a user’s computer.   Consequently, hackers could deploy malicious websites that serve hidden iframes and, unbeknownst to the user, modify the configuration settings stored in those local files s...

Japan’s primary financial regulator is reportedly looking at updating its regulatory framework for the cryptocurrency sector to curb speculative investments.   In April 2017, the Financial Services Agency (FSA) – Japan’s financial regulator – enforced  new legislation that revised the Payment Services Act to recognize cryptocurrency as legal tender. The regulatory move was pioneering at the time wherein a major economy mandated domestic crypto exchange operators to register and earn a license from the authority to operate a crypto exchange in Japan.   The regulator mandated the framework to proactively prepare for a surge in cryptocurrency adoption, specifically in their usage in payments and remittances. The FSA moved to “prevent a situation in which there is no law governing (cryptocurrencies) when they come into wide use,” a senior official from the regulatory authority told the  Japan Times .   However, the regulator did n...

The internet technology was invented in the early 1980s, known by the public in 1990s and used globally from the beginning of the 21st century.   The Internet is now connecting every single part of the world. The first online advertisement was listed on hotwired.com on Oct 27, 1994. From then on, the internet has been creating a huge market for online advertising and brands promotion. Google, Facebook ， Amazon, Twitter, all these internet giants have been benefiting from the online advertising market.   Problems come with prosperity. Too many advertisements make this market super inefficient. For advertisers, the advertising expense is quite high, but more than 50% of the expense is useless. The advertising resources are monopolized by the very few network media and they can shut the door for real value products easily. For browser users, useless information overruns, advertisements are seen everywhere and passively accepted. The fraudulent advertisements like Phishing ...

August 6, 2018 – Road Town, British Virgin Islands –  Peer Mountain  joins the  LOT Network  as its 259th member. The License On Transfer (LOT) Network is a non-profit community of companies providing the protection from patent assertion entities (PAE’s), commonly known as patent trolls. Companies that join the LOT Network, pledge to give all other members an automatic free license to any of their patents that is acquired by a patent assertion entity.   The LOT Network membership has grown in size and stature in the past year with the addition of Yum!, Oracle, Volkswagen, Vizio, Salesforce, Tesla, eBay, Cisco, Alibaba, Amazon, Daimler, and about 80 start-up companies. The LOT Network is now able to permanently immunize members from over 1.2 million assets in the hands of a PAE.   Following the announcement, Marc Kaufman, Co-Founder of the Blockchain IP Council, said;   “Patent filings related to blockchain technology have increa...

Bitcoin mining is a very competitive industry. It has grown exponentially over the last few years. During the last nine months, there’s been a bunch of new entrants joining the mining rig manufacturing business like GMO Group, Halong Mining, and Ebang. Now there’s a new firm that has partnered with Samsung’s semiconductor foundry called, Innosilicon, which has launched the Terminator 2-Turbo that claims to boost the machine’s hashrate speeds up to 24 trillion hashes per second (TH/s). 24 Trillion Hashes Per Second — The Hong Kong Firm Innosilicon Launches the Terminator 2 Turbo   Mining rig manufacturing is becoming super competitive lately, and there’s been a slew of new machines launched with much faster semiconductors. For instance, the firm Ebang and its  Ebit E10 miner  mines the SHA-256 algorithm, and it introduced independently made 10nm chips last year. The machine’s specs claim to produce a low power consumption of 1650W ...