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Prepare for Launch: Zilliqa’s New Testnet is Imminent

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Third generation Zilliqa is almost ready to release the next version of its testnet. Testnet v2 will support their new smart contract language bringing a next-level security to decentralized applications (Dapps) running on the network.

Zilliqa Builds in Safety Measures

Scilla, the new smart contract language designed for Zilliqa, will make applications running on Zilliqa less vulnerable to attacks. By getting rid of certain known vulnerabilities directly at the language-level it will make sure that Dapps will be much safer to build and run.

Cryptocurrencies are at risk of security flaws. Recently EOS announced its bug bounty program, offering up to $10,000 for the most severe bugs found. Since May 31, 39 bugs have been found and resolved. The most recent one was June 27 and received the maximum bounty because it was so serious. By building safety into smart contracts, Zilliqa will be able to secure its reputation as a safe, scalable cryptocurrency.

In a blog post, Zilliqa said: “As a result, it is extremely important to ensure that a smart contract deployed on a blockchain is bug-free and safe. Safety of smart contracts is particularly critical because they are run in a Byzantine environment, where, every party involved with a contract can potentially be malicious.”

Developer Grant Program Announced

Zilliqa announced a developer grant program called the Zilliqa Ecosystem Grant on June 19. The main objective will be to support teams developing tools, libraries, and Dapps for the Zilliqa platform. The total funding for it will be $5 million of which at least 30% will be given out as ZIL. The projects will need to be long-term projects as the funding will be spread across a period of time. The Zilliqa team will also provide support and advice to the projects.

In a blog post, Zilliqa said: “To encourage the development and adoption of applications that are built on our platform we are pleased to announce the details of the Zilliqa Ecosystem Grant Programme — a pool of $5 million USD that will be given to great projects, teams, and individuals to start building tools and applications for the Zilliqa platform.”

New Dapps to #BuildonZIL

Spuul, an over-the-top provider of video streaming content have announced that Spokkz will be running on the Zilliqa network. Spokkz is a film and TV ecosystem. The provider has a user base of over 57 million users and provides content in 180 countries. This means it will have plenty of reach.

A new open entertainment network has also stated its intentions of building on Zilliqa. Bolt aims to use blockchain technology to change how we access content, data, and educational resources. They claim to be the world’s first open entertainment economy and are listed on the Switcheo exchange.

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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 Austin via Flickr

Blogs

3 Things to Avoid if You Want Your ICO to Succeed

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Initial Coin Offerings, or ICO, have become quite popular in 2017, which is something that also continued throughout 2018. In fact, there were hundreds, if not thousands of them so far. However, no matter how many of them were organized, most never managed to make it into the market and achieve their goals.

Analysts claim that there are a lot more failed ICOs than there are successful ones, which has caused a lot of people to simply give up on the idea. However, many are still curious to know what went wrong, and while failed ICOs can be studied for years without discovering absolutely every flaw, some of the bigger ones can be spotted right away.

This is why we will now list top three reasons why so many ICOs failed, and everyone who is thinking about launching one should pay close attention.

1. The lack of demand for the product

According to estimates, around 60% of ICOs often fail at the first stage simply for the lack of interest in what they offer. When someone comes up with an idea and launches an ICO in order to raise money, they are presuming that people will be interested in investing in this idea. In addition, prior to making an announcement that an ICO is coming, it is wise to ensure that the announcement will be heard in the first place.

Additionally, ICOs need to be approved by appropriate…

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Bitcoin

Reasons Behind The New Bitcoin Crash

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Cryptocurrency investors and supporters experienced quite a shock last week with the latest Bitcoin crash. Almost every single one of top 100 cryptocurrencies trading in the red. Not only that, but most of them experienced massive losses, often larger than 12%, or even 15%.

The event was unexpected and all cryptos, with the exception of a handful of stablecoins, lost a large part of their value. However, as always, Bitcoin is the one receiving the most attention, especially since this is the first time that BTC has dropped below $6,000 in a long while. Right now, Bitcoin is still losing value, with its current price being at $5,503.11 per coin, and a drop of 12.76% in the last 24 hours.

After the initial shock, a lot of investors started wondering and researching the new crash. The main question still remains: Why did this happen?

While this is more than understandable, especially considering how much money, time, and patience people have invested in crypto, the reasons behind the new crash remain obscure to many. Because of that, we are now going to explain two events that are most likely to be causing this situation.

1. The selloff

This is believed to be the main reason for the new crash of Bitcoin. The selloff came as a consequence of the last year’s bull run, which has launched BTC and other coins to entirely new heights. Because of that, numerous…

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Altcoins

Here’s Why This Coin Still Has Wings (WINGS)

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WINGS, a decentralized crowdfunding platform based on the Ethereum blockchain, has had a great run over the past two months. Culminating in a peak of US $.23 just a few days ago, the currency behind the product has more than doubled since it’s lows of early September.

Despite the slight downturn WINGS is currently experiencing, this crypto-favorite may not be done running up the green candles on your favorite exchange just yet. A small drop like we had today was actually expected and could be considered healthy by long-term investors. These dips are also appreciated by those of us waiting to get in on a project we feel has real potential. WINGS has shown us that potential and is now presenting a great buying opportunity for speculators and traders looking for the next wave of support to lift this coin into the stratosphere.

What is WINGS?
WINGS was created to nurture project proposals via the Decentralized Autonomous Organization (DAO) model. Using blockchain networks and smart contracts, the platform allows the WINGS community to promote proposals with the greatest chance of positive returns. WINGS, in essence, is a decentralized forecasting ecosystem, where token holders are given an incentive to make choices concerning projects on the platform.

The DAO is a popular concept for crypto-projects that want to remain entirely on the web. Using the peer-to-peer technology of blockchain and smart contracts to enforce the rules of participation is…

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