Vitalik Buterin and Joseph Lubin’s New Ideas for Ethereum
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Vitalik Buterin and Joseph Lubin’s New Ideas for Ethereum

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Vitalik Buterin

Vitalik Buterin, the founder of Ethereum has recently announced (9th March 2018) in the conference EthCC, held in Paris that he had presented a scaling solution for Plasma. Plasma is a system of smart contracts that can raise the computational potential of the Ethereum blockchain. Plasma was created by Buterin and Joseph Poon (co-creator of Bitcoin Lightening Network) in 2017 to solve the scalability issues of Ethereum by producing a layer of smart contracts that will be in contact with the main blockchain.

In the present scenario, the users have to download and confirm each smart contract in the Plasma system. Vitalik Buterin says that he has found a way that will reduce this to a handful of data points. He goes on to say that the principal benefit, in this case, is the reduction in the amount of data that the clients had to process.

The users will now be able to generate “Plasma coins” without downloading the whole Plasma history. The users will simply have to send a deposit to the contract in order to produce “Plasma coins”. This also means that the users can now track the coins ‘they care about’ (as said by Buterin) within the system instead of downloading and verifying everything.

However, this idea of Buterin and developers Karl Floersch and Dan Robinson has not yet undergone testing. The promises as stated by the proposers of the idea can have a number of vital use cases, for instance securing cryptocurrency exchanges from the hackers. Implementation of this theory will enable the cryptocurrency exchanges to provide order book functionality that will save the user funds in case there is an attack.

Vitalik Buterin said, “Hopefully when the next multi-billion dollar exchange written by a totally incompetent developer gets hacked, no one will lose any money.”

Ethereum can Disrupt Tech Companies of High-Reputation

On 9th March 2018, Joseph Lubin (co-founder of Ethereum) gave a speech regarding this at the South by Southwest Interactive conference. Investors in the blockchain technology and the connoisseurs have often hailed blockchain as the “next internet”. Joseph Lubin, in the conference, had emphasized on the Ethereum’s promise of decentralized applications. According to him, personal data can be easily extracted from Google and Facebook when compared to the Ethereum blockchain.

“On the web right now, I would argue that identity is broken. We spray aspects of our identity around the web, it’s stored on corporate servers and is monetized by corporations, and often aspects of your identity aren’t well secured by those organizations.”

He continued to say that giants like Apple, Facebook, Amazon, Google, and Netflix have had faced glitches when it comes to data breaches and loss of user trust. He says that the flaws lie in security protocols as well as in fiat currencies.

Web 3.0, Ethereum’s approach has “reinvented” data collection, storage, and control. The users do not have to transact on the web with faceless corporations that may lose or even resell the user’s personal data. Web 3.0 as explained by Lubin, “Instead of the client-server architecture where you’ve got one company, say Google or Facebook, that has a bunch of servers and we’re interacting with them as a counter-party, this new kind of application paradigm has all the different nodes on the network and they are all effectively the back end of the application. So nobody is in control of it, and you can build these platforms where no one’s overly monetizing it.”

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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. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Duncan Rawlinson via Flickr

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How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip

As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies like Bitcoin and Dash, to help protect their assets and hard-earned…

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