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Ethereum Joining Hands with Amazon Web Services and Enigma (ENG)

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Amazon Web Services
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The launch of AWS Blockchain Templates for Hyperledger Fabric and Ethereum by Amazon Web Services recently has been phenomenal. This will hasten the process of building new blockchain networks. About the launch, Jeff Barr, the Chief Evangelist for AWS posted on the AWS blog on 19th April, “We are launching AWS Blockchain Templates today. These templates will let you launch an Ethereum (either public or private) or Hyperledger Fabric (private) network in a matter of minutes and with just a few clicks. The templates create and configure all of the AWS resources needed to get you going in a robust and scalable fashion.”

Prior to this new relationship, Amazon Web Services had joined hands with Corda R3, Sawtooth, PokitDok, and Quorum. Corda lets the users create dApps on the AWS platform. However, with the help of the latest AWS Blockchain Templates, the users can develop fully fledged Ethereum network within a few minutes. The same goes for Hyperledger network. The difference is that the Hyperledger network launched will be completely private while the Ethereum ones can be private or public.

When developing Ethereum templates, the Amazon Web Services users have the option to choose from two different launch options. The blockchain framework chosen as containers by the user will be deployed by AWS Blockchain Templates directly on an EC2 instance fuelling Docker or on the Amazon Elastic Container Service cluster (ECS). Ethereum networks launched with the help of Amazon Web Services will most probably support Ethereum mining. The EthStats page will keep an eye on the network metrics. Amazon will also give an EthExplorer toolkit to the clients such that they can reconnoiter the transactions and the smart contracts that are stored in the ledger. As the networks will be developed directly into the user’s Amazon VPC, it will allow the user to access the subnets of VPC and Access Control Lists. The user also has the option to reduce the use of resources by utilizing granular permissions allocated with AWS IAM.

This venture will be beneficial for many industries as they can launch both private and public Ethereum networks through AWS for analysis of critical financial data and audit and risk assessment tasks and so on.

Ethereum Alliance and Enigma (ENG) and Decentralized Identity Foundation

Enterprise Ethereum Alliance (EEA) and the Decentralized Identity Foundation (DIF) have incorporated Enigma (ENG) as a member recently. The cryptocurrency, Enigma (ENG) focuses on privacy, security, and scalability. The platform, Enigma Data Marketplace, launched three weeks prior to this announcement acts as a bridge between data providers and apposite data consumers. The objective of Enigma (ENG) is to assimilate crypto world and financial datasets.

Enigma is also looking forward to improvising decentralization for blockchains by conforming smart contracts like Ethereum’s into “secret contracts”. This technology will hide entered data from the code-executing nodes on the network of Enigma. It is a step that will ensure the safety of sensitive data and is believed to be capable of bringing out hitherto unknown areas for development. These were mainly hindered by privacy concerns. It is expected that this type of platform will enable merging of datasets across several industries by eradicating the barriers that prevent corporate collaborations. This is one of the major reasons for acceptance of Enigma by Enterprise Ethereum Alliance and Decentralized Identity Foundation.

Apart from this new entrance, EEA boasts of notable members like Intel, Accenture, J.P. Morgan, Santander, BP, Bancor, CME Group and many others. The objective is to “evolve Ethereum into an enterprise-grade technology”. Enigma plans to launch Catalyst, its first protocol along with its mainnet in Q3 of this year. The format will be compatible Ethereum such as to make it accessible to all the members of EEA. The Digital Identity Foundation, on the other hand, focuses on keeping one’s data and proof of identity private. As explained in the blog of Enigma, “Enigma enables individuals to share claims without over-sharing sensitive data, i.e. proving you are over 21 without revealing your birthday.”

A Little about Enterprise Ethereum Alliance (EEA)

Enterprise Ethereum Alliance (EEA) is a not-for-profit and is supported by the industry to basically develop and promote Ethereum based technology open-source reference architectures. This way Ethereum is evolving as an enterprise-grade technology whose main areas of interest are scalability, security, privacy, and confidentiality.

Price Analysis

After the scare of the first quarter in 2018, it seems Ethereum (ETH) is back on its feet. Currently, according to coinmarketcap.com the price of Ethereum is $639.60 USD (3.88%) approximately. (As of 23rd April 2018). As the second quarter progresses, it is expected that the price will increase and will soon break the $648 mark. Currently, it seems that the charts are depicting a bullish trendline. This may be the result of the new partnerships of Ethereum and the efforts of EEA.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of ali asaria via Flickr

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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