Over 3,000 Ethereum Smart Contracts Contain Major Security Flaws

Ethereum smart contracts are hot technology as of right now. While many companies see merit in this technology, there are security issues a swell. Researchers discovered several vulnerabilities which put millions of Dollars at risk. This is worrisome news, although there is a positive side to it as well.

Security Flaws in Smart Contracts

There are many different aspects to smart contracts. Templates can be used, but any additional code is always a security risk. Considering how there are so many Ethereum-based contracts out there, it is good to know if they are secure or not. According to new research, the future isn’t looking all that bright as of right now.

Through a new approach to sniff out vulnerabilities, researchers aim to improve the security standards. Unfortunately, they already discovered over 3,000 vulnerable contracts in existence right now. These contracts have a combined value of nearly $6m at current Ether prices. If someone were to take advantage of these flaws, things can get out of hand pretty quickly.

The main problem is how smart contracts are used to manage other people’s money. While it sounds convenient, there is always a trade-off to be made. The fact existing contracts cannot be amended is a big problem. Especially if a security flaw is discovered, there is nothing to be done about it. For some reason, this is a major design flaw which never was much of an issue, until now.

Analyzing the Code is Difficult

Even though smart contracts are designed to simplify operations, their code is pretty complex. Every contract is written by a human coder, yet their input is difficult to analyze. As such, it can take months, if not years, until major security flaws come to light. The researchers explained they use a different approach to find flaws:

“Assume we put a few coins in the machine, and just start randomly pushing buttons hoping that the inner workings of the vending machine—which we have no knowledge about, springs and whatnot—eventually releases the latch so you can take the candy.”

By creating a private fork of the Ethereum chain, the researchers can execute permutations of interactions. As such, they can monitor these creations for abnormal behavior. It is not the most convenient approach, but it seems to work just far. No specific information regarding the nature of these flaws has been disclosed as of right now. Rest assured criminals are already probing for weaknesses by the time the information goes public.


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Bitcoin is a very energy-inefficient project as of right now. The proof-of-work aspect has been discussed many times over. It seems community members are now advocating to change this algorithm altogether. With mining centralization becoming a real problem, such a change is not necessarily a bad thing.

The Proof-of-Work Situation

Generating new Bitcoins requires dedicated hardware. This hardware is expensive and consumes a lot of energy. As such, we regularly see reports of how inefficient and wasteful Bitcoin mining really is. These discussions always cause friction among community members as well. Changing this situation will not happen overnight, though.

After all, the Bitcoin network is secure thanks to proof-of work. Without this solution in place, the network is open to hackers and other attacks. At the same time, the mining aspect of Bitcoin is not decentralized by any means. Unlike what some people think, a lot of the mining activity is centralized in many ways.

In terms of hardware manufacturers, there is only one company that matters. Bitmain makes a healthy profit due to Bitcoin’s proof-of-work algorithm. It is expected the company made over $3bn in operating profits throughout 2017. That is quite a steep amount, but not entirely unexpected. The Chinese company has a monopoly on the market as of right now.

Changing the Way Bitcoin Works

Bringing more decentralization to Bitcoin is not easy. As long as the reliance on proof-of-work remains in place, centralization will remain a pressing threat. As the network becomes “bigger’, finding a solution becomes even more difficult. If this trend continues, China will control Bitcoin in every way one can imagine. It controls the hashrate, the mining hardware production, and most mining pools as well. Not an ideal situation for a decentralized currency whatsoever.

The bigger question is what we can do from here on out. A recent Medium blog post by Cobra, co-owner of bitcoin.org and BitcoinTalk,  touches upon all of the aforementioned problems and more. Switching from Proof-of-work to something else is not a logical evolution. However, sticking with the current PoW-oriented Bitcoin could eventually cause more problems, friction, and centralization. Bitcoin Core developers will have to come up with a creative solution to effectively counter these problems.

Whether or not Bitcoin can survive without proof-of-work remains a big question. It is true miners can be seen as a “problem” in many different ways. They are the ones determining the future of Bitcoin by supporting or rejecting scaling solutions. The regular user has absolutely no say in the current Bitcoin ecosystem, unfortunately. Bringing power back to the people is not straightforward. A new hard fork is not necessarily the answer either. Something has to change sooner rather than later. How that change will be enforced, remains to be determined.

Q: Keyrpto has an interesting tagline – “blockchain based e-commerce platform”. Is it same as enabling cryptocurrency payments for e-commerce or beyond that? Please explain.

A: Keyrpto is not just a platform using cryptocurrencies, it’s far beyond that. what we are trying to achieve here is to integrate the blockchain technology to e-commerce. such as; Smart Contract between buyer & seller which will provide complete transparency offered by transactions through blockchain. Every transaction is recorded and visible to the public. Moreover, Cost-effectiveness. Store owners accept cryptocurrencies with zero/very low fees by removing the middlemen/payment processors. We believe that blockchain can present endless opportunities for e-commerce.

Q: How does Keyrpto help the existing e-commerce vendors and buyers?

A: Keyrpto offers a unique concept for both parties. For sellers, Keyrpto helps to set up their online stores with a low cost & state-of-art tools. Moreover, a unique SEO which is designed to maximize profits and helps consumers to find products & services. For sellers, Keyrpto offers quick & secure crypto payment, easy-to-use search engine & more variety in product offerings. Moreover, discreet & privacy purchases.

Q: How do you compare Keyrpto with the likes of Open Bazaar?

A: Open Bazaar has already introduced crypto payment. However, in order to stay competitive in this area, we see Keyrpto as the natural extension and evolution of e-commerce, Keyrpto will unlock the door between the crypto payment and online marketplace.

Decentralization and the opportunities presented by the use of blockchain technology in e-commerce are endless.

Q: What are the commission or facilitation fees Keyrpto charges from the participants?

A: Meantime, we didn’t decide on Keyrpto’s fee. However, the platform is powered with KYT tokens, we will have some special offerings for KYT holders in setting up stores and transaction fees.

Q: You have a token sale going on. How much are you planning to raise? Where will the funds be used?

A: Our soft cap is US$ 3,000,000 and hard cap is US$ 5,100,000. We will use this fund to complete our platform, hiring more talents to join the team, initiating the app and launching a worldwide marketing campaign to make sure that Keyrpto is the new ebay of crypto marketplace.

Q: Would you like to share more information about the Keyrpto team and their expertise, and how they will put it to use in the project?

Our team consists of high performing and experienced professionals who specialize in Blockchain Technology, Software Developments, IT Infrastructure, Digital Marketing, and many more fields. We constantly looking for new talents to join our team. Moreover, our advisors are not only specialists in their own field, but also fully dedicated to ensuring the success of this project.

Q: When can we expect people to start using the platform?

A: By Q2, 2018, following our Beta launch, we will start accepting sellers to set up their stores and by Q4 2018, we will officially launch the platform so people can start to navigate through & shop online.

Q: How do you plan to get more people to use the platform? Do you have any partnerships or collaborations in mind?

A: We successfully teamed up with Afrimalin (www.Afrimalin.com). Afrimalin is a classified website with a large range of products and services focuses on French-speaking African countries, which will be the gate to enter the African market. Meantime, We are in process of partnerships with different e-commerce platforms around the globe to achieve our main goal which is the no.1 choice for crypto marketplace.

Q: Would you like to tell our readers anything more about the project?

A: Stay tuned! Keyrpto will change the game of e-commerce.

 

Generally, when one thinks of blockchain the first thing that comes to mind is cryptocurrency. And this has hitherto been the best executed and most quickly adopted implementation of the blockchain. So, you might be forgiven. However, the fact that it has found the great majority of its success in one field does not preclude the fact that it might be even better adapted for another.

The blockchain allows for logical, seamless tracking of modifications and access to a piece of data. The ledger is essentially the perfect way to keep records and keep track of who has changed or access those records.

And at eHealth First we believe that the Blockchain is the ideal system for the management of healthcare records – even beyond just healthcare records, the blockchain could indeed lead to a veritable revolution of the healthcare industry. In much the same way that it is currently revolutionizing the financial industry.

The healthcare industry is currently facing a myriad of problems

The primary problem, and the one from which many of the following problems stem, is data asymmetry and lack of medical records continuity. Medicine is extremely specialized today and in the course of dealing with a single health problem, you will likely see several doctors. These doctors will build files on you and make decisions based off the data they have (generally you are required to fill out formulas or provide a paper copy of your medical record). Each doctor builds a file inserting his own findings, tests, etc. However, there is no one master copy! Every doctor builds a new file or is working off a partial file. Doctors cannot make well-informed decisions without all of your medical history.

This lack of communication between all nodes of interaction leads to massive problems with record continuity. If you are going to a specialist and you bring a copy of your record from your family physician but he’s missing the data on a compound fracture you had treated near the ski resort, then there is a large, potentially important, gap in the data.

This negatively affects wait times, cost, and quality of treatment

Since the doctors do not have all the data they might need, the wait times are going to be longer and the cost higher as they double check, re-verify, or even miss a problem and have to redo something or redevelop a treatment plan. Holes in your medical records are no joke. And the stakes can be high.

Luckily there is a solution

There is no central medical authority for keeping records in most countries, this makes the blockchain’s decentralized but secure aspect an ideal way to share, manage, update, and use medical records within the context of today’s healthcare system.

eHealth First offers a blockchain-based solution to this almost ubiquitous problem. By linking health records to the blockchain they can be used across today’s distributed healthcare network and accessed by doctors who don’t know but still need to see their work. This will lead to fewer tests having to be reproduced, fewer complications arising from medications, shorter wait times, and more accurate diagnoses of present problems in the context of past issues. Due to the nature of blockchain the time, date, and location of updates to the record will naturally be included as well allowing a doctor to build a timeline of your health history.

If there is one industry in the world that is particularly suited to the uniquely secure-but-distributed nature of the blockchain, it is healthcare.

But records are just the tip of the iceberg.

Record access at record speeds

One of the key features of eHealth First is the mobile applications. eHealth First wants to revolutionize global healthcare, not just health care for a rich elite. And while the majority of the world might not have a tablet or laptop computer, the great majority do have smartphones.

Using smartphones to access health records and information not only allows for unprecedented ease of access (courtesy of the blockchain) in both the developed and developing world.

Even better, in areas where the healthcare system is still being built, it allows for a potential technological ‘leapfrog.’ This is a phenomenon that occurs when a developing country, due to its lack of existing infrastructure, skips directly to the most advanced available. This has been seen in Africa with cellular technology. Very few expensive landlines are laid because one cell tower can be built for a fraction of the cost and provide magnitudes greater freedom and service.

The same potential ‘leapfrog’ could happen in developing countries. The healthcare system

could be built around this greater, decentralized access to health care records and data.

Longevity, a goal and a problem

The world is living longer and longer and that means that health records are getting longer, too.

And with them, the bills.

The world is currently experiencing an explosion of the population of the aged and aging, and a whole slew of problems are coming to light that has never before been experienced. Modern medicine has made commonplace what was once a rarity: old age.

However, many nations are struggling to deal with their burgeoning grey populations, with East

Asia at the forefront of what has been described as ‘the second demographic transition.’ Large populations of aged people with long, complicated healthcare histories and a slew of medications and conditions, can be a nightmare to manage. And that’s not to mention the cost.

eHealth First’s system is uniquely suited to tackle this problem as the management of healthcare records is uniquely crucial with aged folks. The complications that can arise from not having a complete medical history are both much more numerous and much more likely to be deadly. So, keeping the treating physician up to date is absolutely crucial to effective treatment.

But longevity is not a problem if it is correctly managed. In fact, for eHealth First, it is a goal. We believe that our system will not only lead to better treatment of problems but also help prevent them to begin with. A person who is more aware of his medical history is more aware of his risks and what steps need to be taken to improve his situation. Or, at least, what should be avoided.

Even further – the medical revolution continues

eHealth First is more than just an implementation of the blockchain in the realm of healthcare and the fabrication of a super easy-to-use application by which users and doctors can get unfettered access to the data they need.

eHealth First is a platform on which a multitude of other cutting-edge healthcare technologies is to be implemented. First and foremost is the implementation of natural language processing for the record, report, and study analysis. This could greatly cut down on the time a doctor needs to spend looking through the records as the information he needs could be sought out by the platform itself. Medical studies and research are also potential targets of this technology bringing up the latest data so the doctor can make the best-informed decision possible about even the most complicated of cases.

Financial indicators

eHealth First Project has high financial indicators, naming (for the conservative scenario) NPV(12%,10 y)=600 mln USD, IRR>50%, EV(Y2023)=1.4 bln. USD.

Forward!

Our well-developed team (21 professionals from 8 countries) is headed by Nickolay Kryuchkov, an entrepreneur, researcher, and medical doctor, and consists of experts in biomedical systems Arnold Mitnitsky and Sviatoslav Plavinsky, consultants in Health care and Public Health Policy Daria Khaltourina, Nick Guldemond, Edwina Rogers and Artem Gill, a biomedical gerontologist Aubrey De Grey, experts in genomics, longevity and aging João Pedro de Magalhães, Kalluri Subba Rao, Oliver Medvedik, physician and clinical researcher Lyle Dennis, researchers and engineers in blockchain development, machine learning, artificial intelligence Eray Ozkural, Artemy Malkov, Keith Comito, attorney at law Paul Spiegel, financial expert Victor Solntsev and more.

This is an ambitious project that requires the combined skills of experts in many different fields and the careful synthesis of their competencies into one unified platform.

The eHealth First ICO

The EHF token is of the ERC20 standard. The ICO will begin soon. A soft cap has been set at 8,000 ETH.

The private placement phase of the ICO is in full gear. You can currently buy tokens at the lowest price they will ever be available with huge bonuses.Bonuses of 45-70% are available.

You can participate at www.ehfirst.io

The Pre-ICO will begin March 18th and end April 18th. Bonuses of up to 40% will be available.

Join TwitterTelegramFacebook, and subscribe to YouTube Channel (a new videoclip every day from Monday to Friday).

Read the White Paper for all the details.

Nebula, a cryptocurrency exchange which aims to provide support for cryptocurrencies that struggle to find affordable listing, will launch by the end of March with a unique reputation system.

On major cryptocurrency exchanges like Binance and Bitfinex, it is difficult to find cryptocurrencies with small market valuations and shallow order books, because large cryptocurrencies tend to list cryptocurrencies with the potential to attract high profile buyers and large-scale traders. As such, cryptocurrency traders rely on exchanges like Huobi and OKEx for small market cap coins.

According to the Nebula development team, the exchange was built specifically to support orphaned projects that could not find affordable listing. It will be able to support cryptocurrencies and blockchain projects left out by major cryptocurrency trading platforms. Some exchanges impose a listing fee in the range of $50,000 to over $500,000, which is realistically not possible for small cryptocurrencies and blockchain projects to afford.

With a 0.1 percent fee and small taker fees with lower listing fees, Nebula is eyeing to take over the niche market of orphaned projects and small cryptocurrencies, which most exchanges have overlooked in the past two years.

Uniquely, Nebula also allows users and traders to rate projects with a reputation system, similar to how products are rated on e-commerce platforms like Amazon. Scams, worthless investments, pump & dumps, and projects with no substance, clear vision, and strong developers will receive poor ratings, giving newcomers and casual traders a more efficient method of segregating projects.

Projects with high ratings will be rewarded by being advertised on the front page of the exchange, giving more exposure to traders and investors on the trading platform. A large interactive nebula cloud with 20 distinct stars will have the logos of the top 20 volume cryptocurrencies.

The majority of investors and traders in the global cryptocurrency market has criticized many exchanges, even large-scale trading platforms, for failing to transparently disclose the structure of their companies and legal registrations. Nebula Exchange, a fully Know Your Customer (KYC) compliant exchange with margin trading, is registered in Singapore with a company called ChainTrade, which already have a commercial businesses of its own that enables the trading of commodities on the blockchain such as food and raw materials.

In light of recent security breaches and hacking attacks, such as the theft of over $530 million worth of NEM from Japanese trading platform Coincheck caused by the usage of hot wallets, Nebula implemented a robust multi-signature system to protect user funds and operate a cold storage wallet to store the funds of traders safely, offline.

The team, led by CEO Vincent Jacques and CMO Nathan Collins, have significant trader and entrepreneur experience, and are confident that it can address the concerns, requirements, and demands from the cryptocurrency community.

To the moon and back, is a distant dream for everyone who is in love with the skies. The conquest of planets is a painful issue, since the human body is not ready for substantial changes in surroundings. For instance, to colonize Mars, specially genetically modified individuals would be required, capable of withstanding the radiation. But there is great news! Today, every smartphone user can contribute to advancement in genetic engineering.

How can an adventure into a crypto world drive forward medical science? How can every third gamer be a contributor? And what does this have to do with unicorns? Let us tell you.

Pet meadow

It’s time for wonder! UnicornGo is a completely new, marvelous world, which will change your perspective of the gaming industry. Here the sun always shines, the air is infused with vanilla, candy bunches fill the treetops. Who dwells here? Mystical characters, crypto unicorns, are ready to become your loyal companions. These animated cutie pies will come into your world and bring you delight.

Decentralized game universe UnicornGo offers you to become a master of wonders and grow your wealth. At the same time, to contribute to advancements in medical science. Enchanting unicorns, with the directions of owners, seek their partners, create offspring and enjoy life. Thanks to the augmented reality platform IZETEX they can even interact with the real world. Integrated economy and exchange of crypto assets allows gamers to earn through this progressive reality. And how that is done? Though accumulating in-game currency CandyCoin, collecting rare specimens, breeding new valuable mutations and collecting game assets. An opportunity to increase your wealth outside of the game is also a possibility. With the help of augmented reality IZETEX technology the sweet currency can also be collected at any location in the world.

Play for a better world

The game itself is not the end goal. By design of the creators, the UnicornGo universe is a step towards important scientific advancements. Integrated realistic genetics enable in-depth analysis of crossbreeding mechanics. The gathered data is applicable to medical research in the field of genetic engineering. All in-game processes take place using smart contracts, which perform complex calculations for further use for scientific purposes. For instance, battling genetic diseases or even creating super humans.

And that is not all! Within the ethereal world of unicorns there are no borders and no limits. The unique platform NeuroBasis creates equal opportunities for all players, even those suffering from musculoskeletal disorders. There are no restrictions! With the help of high-tech neural interfacing, it will be possible to control pets with the power of thought. Furthermore, profits collected from the sales of every third neural-control gadget device will go to charity. What’s really important is that, unfortunately, today’s world ‘benevolence’ is decreasing. According to British Charities Aid Foundation (CAF), contributions to charities in 2017 have significantly decreased in the Group of Twenty (G20) countries. Crypto unicorns will make a positive contribution to the world statistics and the players will have a sense of inclusion in a good cause.

A change for the better! UnicornGo is a blockchain game that will change your perspective of the gaming industry. Join Forward towards a bright future, blockchain universe UnicornGo

To the moon and back, is a distant dream for everyone who is in love with the skies. The conquest of planets is a painful issue, since the human body is not ready for substantial changes in surroundings. For instance, to colonize Mars, specially genetically modified individuals would be required, capable of withstanding the radiation. But there is great news! Today, every smartphone user can contribute to advancement in genetic engineering.

How can an adventure into a crypto world drive forward medical science? How can every third gamer be a contributor? And what does this have to do with unicorns? Let us tell you.

Pet meadow

It’s time for wonder! UnicornGo is a completely new, marvelous world, which will change your perspective of the gaming industry. Here the sun always shines, the air is infused with vanilla, candy bunches fill the treetops. Who dwells here? Mystical characters, crypto unicorns, are ready to become your loyal companions. These animated cutie pies will come into your world and bring you delight.

Decentralized game universe UnicornGo offers you to become a master of wonders and grow your wealth. At the same time, to contribute to advancements in medical science. Enchanting unicorns, with the directions of owners, seek their partners, create offspring and enjoy life. Thanks to the augmented reality platform IZETEX they can even interact with the real world. Integrated economy and exchange of crypto assets allows gamers to earn through this progressive reality. And how that is done? Though accumulating in-game currency CandyCoin, collecting rare specimens, breeding new valuable mutations and collecting game assets. An opportunity to increase your wealth outside of the game is also a possibility. With the help of augmented reality IZETEX technology the sweet currency can also be collected at any location in the world.

Play for a better world

The game itself is not the end goal. By design of the creators, the UnicornGo universe is a step towards important scientific advancements. Integrated realistic genetics enable in-depth analysis of crossbreeding mechanics. The gathered data is applicable to medical research in the field of genetic engineering. All in-game processes take place using smart contracts, which perform complex calculations for further use for scientific purposes. For instance, battling genetic diseases or even creating super humans.

And that is not all! Within the ethereal world of unicorns there are no borders and no limits. The unique platform NeuroBasis creates equal opportunities for all players, even those suffering from musculoskeletal disorders. There are no restrictions! With the help of high-tech neural interfacing, it will be possible to control pets with the power of thought. Furthermore, profits collected from the sales of every third neural-control gadget device will go to charity. What’s really important is that, unfortunately, today’s world ‘benevolence’ is decreasing. According to British Charities Aid Foundation (CAF), contributions to charities in 2017 have significantly decreased in the Group of Twenty (G20) countries. Crypto unicorns will make a positive contribution to the world statistics and the players will have a sense of inclusion in a good cause.

A change for the better! UnicornGo is a blockchain game that will change your perspective of the gaming industry. Join Forward towards a bright future, blockchain universe UnicornGo

To the moon and back, is a distant dream for everyone who is in love with the skies. The conquest of planets is a painful issue, since the human body is not ready for substantial changes in surroundings. For instance, to colonize Mars, specially genetically modified individuals would be required, capable of withstanding the radiation. But there is great news! Today, every smartphone user can contribute to advancement in genetic engineering.

How can an adventure into a crypto world drive forward medical science? How can every third gamer be a contributor? And what does this have to do with unicorns? Let us tell you.

Pet meadow

It’s time for wonder! UnicornGo is a completely new, marvelous world, which will change your perspective of the gaming industry. Here the sun always shines, the air is infused with vanilla, candy bunches fill the treetops. Who dwells here? Mystical characters, crypto unicorns, are ready to become your loyal companions. These animated cutie pies will come into your world and bring you delight.

Decentralized game universe UnicornGo offers you to become a master of wonders and grow your wealth. At the same time, to contribute to advancements in medical science. Enchanting unicorns, with the directions of owners, seek their partners, create offspring and enjoy life. Thanks to the augmented reality platform IZETEX they can even interact with the real world. Integrated economy and exchange of crypto assets allows gamers to earn through this progressive reality. And how that is done? Though accumulating in-game currency CandyCoin, collecting rare specimens, breeding new valuable mutations and collecting game assets. An opportunity to increase your wealth outside of the game is also a possibility. With the help of augmented reality IZETEX technology the sweet currency can also be collected at any location in the world.

Play for a better world

The game itself is not the end goal. By design of the creators, the UnicornGo universe is a step towards important scientific advancements. Integrated realistic genetics enable in-depth analysis of crossbreeding mechanics. The gathered data is applicable to medical research in the field of genetic engineering. All in-game processes take place using smart contracts, which perform complex calculations for further use for scientific purposes. For instance, battling genetic diseases or even creating super humans.

And that is not all! Within the ethereal world of unicorns there are no borders and no limits. The unique platform NeuroBasis creates equal opportunities for all players, even those suffering from musculoskeletal disorders. There are no restrictions! With the help of high-tech neural interfacing, it will be possible to control pets with the power of thought. Furthermore, profits collected from the sales of every third neural-control gadget device will go to charity. What’s really important is that, unfortunately, today’s world ‘benevolence’ is decreasing. According to British Charities Aid Foundation (CAF), contributions to charities in 2017 have significantly decreased in the Group of Twenty (G20) countries. Crypto unicorns will make a positive contribution to the world statistics and the players will have a sense of inclusion in a good cause.

A change for the better! UnicornGo is a blockchain game that will change your perspective of the gaming industry. The game is set to be released in March 2018 while the pre-sale ends on 28 February.Join and together we will transform reality for the better.

Please visit: https://unicorngo.io

 

We are seeing a change of fortune as far as price action and altcoins is concerned. LTC, Lumens and DASH are on the fore front printing clear bull patterns that awaits confirmations today.

Besides these three, we remain neutral on EOS unless we see a close above $9.5 while NEO is also encouraging as scalpers can enter this trade and aim at $130 in the short term.

Let’s have a look at these charts:

XLM/USD

XLM/USD Technical Analysis
XLM/USD Daily Chart for February 24, 2018

As per our projection, all we needed was a double bar bull pattern anywhere around last week’s lows at around $0.34.

That’s what we have now and as it is, I will be looking for that resumption of bull pressure as this is not only happening at support of the ascending wedge but at last week’s low.

Now, it depends on your patience because you can either wait for a cross above $0.40 or the 61.8% Fibonacci retracement level or enter at current prices.

I recommend entry after today because for assurance purposes, a double bar reversal pattern-bull or bear is only useful if there is confirmation.

DASH/USD

DASH/USD Technical Analysis
DASH/USD Daily Chart for February 24, 2018

We are seeing a nice bounce off the middle BB at $620 and so far, our plan is on course.

From yesterday’s analysis, there is a slight bullish resumption because of yesterday’s doji or bull pin bar right at the support or break out level.

The thing, even though we are seeing this reversal of last week’s gains, we remain largely bullish and today might actually determine the short to medium course for DASH.

Any strong bullish candlestick today and we shall have that nice 3 bar reversal pattern with $620 as our anchor and all bulls have to do is to refine their long entries in lower time frames on February 25.

EOS/USD

EOS/USD Technical Analysis
EOS/USD Daily Chart for February 24, 2018

Because of lower lows and reversals from recent EOS price action, I still remain neutral on this pair.

Yes, of course there is a clear bull candlestick on the chart and that lack of bearish confirmation is what is positive for buyers.

From yesterday’s preview, the middle BB at around $8.5 remains our first resistance level and we should be watching what price action shows today.

Scalpers may look for buying opportunities in lower time frames and aim for $9.5.

LTC/USD

LTC/USD Technical Analysis
LTC/USD Daily Chart for February 24, 2018

Yesterday’s forecast is on course and now with that reversal right at the middle BB, LTC buyers should be angling and hunting for long opportunities in lower time frame.

Ok, you may decide to wait and see if LTC bulls confirm yesterday double bar reversal pattern and even wait for a close above February 22 highs but the thing is, there are high chances that the 3rd  phase of a micro-bull resumption being in play.

I recommend longs with every stochastic buy signal in the 1 or 4HR charts or when there is a pull back towards $180 or middle BB in the daily chart.

NEO/USD

NEO/USD Technical Analysis
NEO/USD Daily Chart for February 24, 2018

There is s a reprieve for NEO and while there is a reversal right at the middle BB at $110-$115, I shall only recommend wholesale longs with any close above $130. That line remains a strong resistance and support line depending on price action.

Patience is important and now that bull pressure is building up after yesterday’s events, scalpers may as well enter and aim for $130 in the short term.

Conservatives and risk averse traders should wait for a convincing close above $130 or even $155 and wait for pull backs towards the middle BB before buying.

FOMO Moments

There has been an unexpected turnaround this morning and the markets have rebounded a little. Weekends are usually times when selloffs occur, led by Asia, but today everything is in the green once again. Bitcoin is leading the pack with a 7.5% recovery on yesterday’s prices to $10.500, altcoins have followed it back up, many by double digits. One as usual stands out from the rest and it is one we have covered a couple of times before; Nano.

Posting a 45% gain on the day Nano, formerly RaiBlocks, is flying during the Asian trading session this morning. It has jumped from $9.72 this time yesterday to $14.50 today, over the week gains have been even greater from a low point of $6.80 just three days ago. Nano hit an all-time high of $37 a couple of days after New Year when all cryptos were at their peaks.

The release of the Beta version of the Nano Android wallet on the 21st is likely to have spurred greater interest in this altcoin. Investors have seen buying opportunities at low prices and this coin has seen the dividends. Facilitating fast and free micropayments with digital currencies Nano has an online wallet and mobile ones in continual development. There are only 133 million total supply tokens and they are all already in circulation so prices could well continue upwards. It is traded mostly on Binance which has over 90% of the total volume, $263 million has been exchanged in Nano trading over the past 24 hours.

There are a few other altcoins with double digit growth this morning and they include Ethereum Classic which is up 25% at the time of writing. Litecoin, Iota, Tron, VeChain, and OmiseGO are also rallying this morning.

More on Nano can be found here: https://nano.org/en

FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and fundamentals. 

Beijing-based start-up Bitmain now dominates the Bitcoin mining industry. Last year it is estimated the company made as much money as chipmaker Nvidia did, according to estimates from researchers at Wall Street analyst Bernstein.

Based on conservative estimates, the analysts calculate that Bitmain made $3 to $4 billion in operating profit last year. Bernstein’s U.S. semiconductor team estimates Nvidia’s profit was $3 billion during the same period. What’s particularly striking is that Bitmain achieved this in a mere four years, while it took Nvidia 24 years, the Bernstein analysts said in a report published Wednesday, February 21st.

Mining

Crypto mining as an industry has gained significant traction as of late thanks to the frenzy seen in crypto markets. The technology behind these chips is also undergoing changes, with a focus on reducing the electrical energy consumption for every coin that is mined. On the sidelines, huge tracts of land are also being bought by different businesses across the globe to host data centers that support the crypto mining activity.

Just a few years ago, Bitcoin-enthusiasts could use normal graphic processing units (GPUs) to process the computations needed to mine the cryptocurrency. But Bitmain helped turn Bitcoin mining into a specialized process: In 2013 it began selling application-specific integrated circuits, or ASIC — GPUs that can mine Bitcoin up to 50 times faster than traditional cards.

Today, the company sells Antminer Bitcoin mining rigs that can cost several hundred to a few thousand dollars each. The company also operates mining pools, where participants collaborate on mining in attempts to cut costs. As a result, Bernstein estimates Bitmain has 70 to 80% of market share in Bitcoin miners and ASICs.

Bitmain

Bitmain has taken strategic steps to stay ahead of the game. The company launched a mining pool subsidiary last April in Israel and is opening mining farms in Canada and Switzerland, and regional headquarters in Singapore, according to the Bernstein report. Bitmain is also expanding its business to other cryptocurrencies like Ethereum and Monero.

The analysts estimate that most of Bitmain’s revenue was generated by selling miners powered by the company’s chips: “The rest was largely generated by mining itself and, to a much lesser extent, by collecting management fees from the mining pools it operates and renting out the mining power of its mining farms through cloud services.” Bernstein also indicated that Bitmain shrewdly adjusts the prices of its miners according to current Bitcoin prices.

Japan’s National Police Agency said today that they received reports on 669 cases of suspected money laundering linked to cryptocurrencies from exchange operators between April and December of last year; This is just a tiny fraction of the total, as 347,000 money laundering cases were reported by traditional banks in the same time frame.

The data came after cryptocurrency exchange operators were ordered to report transactions suspected of involving money laundering following a revision last April to a law that intends to prevent the transfer of criminal proceeds. 

Of the 669 cases, it is likely that many involved “questionable transactions repeated frequently in a short span of time,” Nikkei reports. And it’s worth considering that these crackdowns are not necessarily a bad thing: Punishment that comes as a result of these charges could result in removing bad actors in the crypto-space.

Currently, in Japan, 16 cryptocurrency exchange operators are registered based on the revised law on payment services. Ensuring security measures has been a challenge in the industry. Just last month, Coincheck — which was waiting for government approval of its registration — failed to protect its users from the theft of around $540 million worth of NEM digital currency.

The Numbers

The proportion of suspected money laundering cases involving cryptocurrency in Japan — 669 — is a fraction of the fiat total for 2017. The large majority of cases came from banks and other financial institutions, totaling 346,595 cases, followed by credit card companies at 15,448 cases, and credit unions at 13,259 cases.

The figures are promising in the battle against international governments who claims that money laundering is a key sector to be targeted by increased regulations.

This news comes as Japanese Finance Minister Taro Aso is speaking on the inspections taking place within the exchanges, as the government continues to look for weaknesses in the system and attempt to determine the viability of blockchain technology going forward. According to Aso, inspections are mainly used to determine the internal management structure of organizations and are taking place “impartially,” as Japanese officials are trying to not impede the growth of the sector.

There have also been self-regulation talks within the crypto-space: It was reported just over a week ago that Japan’s two cryptocurrency industry groups are working together to form a self-regulating body. The Japan Blockchain Association and the Japan Cryptocurrency Business Association are expected to merge as early as April, with the intention of implementing further safeguards to protect traders and investors.