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Weekly Blockchain Industry Report(12th Issue) 2018.6.30-7.6 OK Blockchain Capital
Written by Lingling Lei and transalated by Billy Lau
Market Overview
The past week’s daily average global market capitalization of cryptocurrency was $261.95 billion and the daily average transaction volume was $14.47 billion, indicating a decline of 4.91% and 3.02% respectively. The daily average market capitalization of the top five cryptocurrencies decreased by 4.42% from the previous week. Among the top five, EOS has experienced the greatest price increase in the past week with a high of $9.39, a decrease of 21.32%.
Disclosure: This is a Sponsored Article
Data source:coinmarketcap
Of the top 10 cryptocurrencies that increased, 80% of the tokens were of the vertical industrial application sector. Also, SRCOIN of the cryptocurrency and payment sector experienced the greatest increase in price.
Ranking Project Token Field Brief description Trading amount(24h) Token price Increase/7d 1 SRCOIN SRCOIN Medical insurance The basic model of the SRCOIN project is to combine the massage chair subscription business with a decentralized health data platform. $1,665,020.00 $0.00 57.07% 2 Dorado DOR Consumerism Dorado is a food delivery platform based on MVP commercialization. $1,997,530.00 $0.03 45.88% 3 AI Doctor AIDOC Medical insurance AI Doctor is a private AI doctor who can provides general help. $5,048,460.00 $0.03 33.69% 4 MARK.SPACE MRK Entertainment The world’s first VR/AR platform based on blockchain technology. $3,055,790.00 $0.06 33.06% 5 NaPoleonX NPX Asset management The NapoleonX project aims to provide investors a new way to invest by creating a cryptocurrency fund (DAF). $622,455.00 $0.28 28.42% 6 GoChain GO Public chain and protocol GoChain is a high-speed, low-cost Ethereum expansion network. $4,069,160.00 $0.06 28.04% 7 ODEM ODE Education ODEM is an on-demand education platform built on the Ethereum blockchain. $970,245.00 $0.36 26.31% 8 Solaris XLR Cryptocurrency and payment Solaris is a cryptocurrency that uses the POS consensus mechanism. $82,911.00 $3.75 25.73% 9 Delphy DPY Gambling Delphy is the first distributed forecasting market based on blockchain in China. $2,987,620.00 $0.82 24.52% 10 AdHive ADH Advertising AdHive is a marketing platform that uses artificial intelligence and blockchain technology to control market traffic. $281,552.00 $0.05 22.61%
Data source:coinmarketcap;retrieved at 12:00 on July 6th, 2018
Analysis of Top 200 Market Cap Projects
The market capitalization of top 200 projects increased by 11.47% compared with that of last week. Based on the main categories of cryptocurrency and payment, public chain and protocol, vertical chain and protocol, and vertical industrial application, the vertical chain and protocol sector increased the most, increasing by 18.34%.
Data source: OK Blockchain Capital
Through further classification of the vertical chain and protocol, it was found that this week’s corporate services and social network verticals were on obvious increases at a rate of 55.62% and 39.24%. Cloud services and entertainment verticals experienced the greatest decreases with a rate of 29.70% and 10.81% respectively.
Data source: OK Blockchain Capital
Analysis of Newly Listed Projects
There were 10 new projects in the market last week (mainly of the content copyright vertical), 90% of which dropped in price within 24 hours of listing. Most of the newly issued tokens were listed on IDEX and HitBTC.
New Projects Categories Ratio New Projects Listed Exchanges Ratio
Data source:Coinmarketcap、feixiaohao、OK Blockchain Capital analysis
Table of newly listed projects
Project Token Field Exchange Platform Initial Listed Price($) Current Price($) 24h Trading Volume($) Launch Date 0chain ZCN Cloud service Ethfinex、IDEX 0.496757 0.514678 272,596 7/3 Egretia EG Public chain and protocol OKEx、Hotbit、IDEX 0.009094 0.008900 324,066 7/3 TaTaTu TTU Content copyright HitBTC 0.595679 0.554663 98,558 7/3 Dorado DOR Transportation HitBTC 0.011696 0.015109 784,331 7/3 ZINC ZINC Human resources Kucoin 0.164451 0.195345 3,155,520 7/4 CarBlock CAR Data services Bibox 0.038657 0.028182 642,723 7/4 Bob’s Repair BOB Consumerism Hotbit、IDEX 0.024513 0.023844 447,692 7/4 KanadeCoin KNDC Cryptocurrency and payment CoinExchange 0.000264 0.000260 42,004 7/4 Cardstack CARD Cryptocurrency and payment IDEX 0.006403 0.006556 524,788 7/4 Wowbit WWB Content copyright Bit-Z 0.265396 0.263429 413,667 7/4
Data source:Coinmarketcap, Feixiaohao
Analysis of Closed Public Sales Projects
There have been 43 closed public sales projects this week, totaling nearly 510 million USD. Among these projects, projects of the asset management field received most funding. This was closely followed by projects of the cryptocurrency and payment field.
Main categories of public sales project this week
Table of closed public sales projects (6.30-7.6)
Project Token Field Platform Soft Cap/$10K Project Token Field PORNX PORNX Cryptocurrency and payment Ethereum 1500 PORNX PORNX Cryptocurrency and payment Robo Advisor Coin RAC Asset management Ethereum 900 Robo Advisor Coin RAC Asset management Robo Advisor Coin DUCAT Data services Ethereum 381 Robo Advisor Coin DUCAT Data services TaTaTu TTU Content copyright Ethereum 25000 TaTaTu TTU Content copyright ProKareX PKX IoT Ethereum 750 ProKareX PKX IoT FENIX.CASH FENIX Content copyright QTUM 1000 FENIX.CASH FENIX Content copyright Globatalent GBT Token Asset management Ethereum 500 PlayBets PLT Game Ethereum 100 Bryllite BRC Game Ethereum 1000 Caerus Connections CAER Human resources Ethereum 1500 Lattice LTI Cryptocurrency and payment Ethereum 100 Nuggets NUG Consumerism Ethereum 150 Wixlar Coin ICO WIX Exchange platform Ethereum 400 PRETHER PTH Cryptocurrency and payment Ethereum 30 Equadex EDEX Asset management Ethereum 500 The Freedom Coin TFC Asset management Ethereum 2500 SleekPlay SKP Content copyright Ethereum 210 RECORD Foundation RCD Content copyright Ethereum 600 Cardium CAD Medical insurance Ethereum 500 Sandblock SAT Token Corporate services Ethereum 200 DigiDex DGX Cryptocurrency and payment Ethereum 240 Kurecoin KRC Cryptocurrency and payment Ethereum 200 Globatalent GBT Token Asset management Ethereum 500 GladAge GAC Medical insurance Ethereum 200 Global REIT GRET Asset management Ethereum 500 DarcMatter Coin DMC Asset management NEM 5000 CMBT CMBT Corporate services Ethereum 370 Tradingene TNG Asset management Waves 400 OptiToken OPTI Asset management Ethereum 22 RankingBall RBG Game Ethereum 300 VISO VITO Cryptocurrency and payment Waves 300 CookUp CHEF Consumerism Ethereum 2100 Monaco Estate MEST Asset management Ethereum 600 BitScreener BITX Asset management Ethereum 300 Utrum OOT Asset management Komodo 100 Whalesburg WBT Asset management Ethereum 300 Tokpie TKP Exchange platform Ethereum 150 Safe.ad SAFE Cloud services Ethereum 300 WELL WELL Medical insurance Ethereum 300 Kurecoin KRC Cryptocurrency and payment Ethereum 200 Sandblock SAT Token Corporate services Ethereum 200 Cardium CAD Medical insurance Ethereum 500 Cardium CAD Medical insurance
Main data sources: Icobench、 Foundico、 smith and crown、icodata、 icodrops、coinschedule、icoadvert
Secondary data sources:Project websites
Important News on Global Governmental Policies this Past Week
Based on public information
Keeping Up with the Blockchain Giants
Hot Topic of the Week: Binance was attacked by hackers, and the SYS coin increased in price by 3.2 million times
At about 4:18 am on July 4, 2018, some Binance users reported that the SYS transactions displayed abnormal trading behavior. At about 4:30 am, the price of SYS/BTC on Binance was increased to around 1SYS=96BTC, which was the highest price of SYS. The previous price of SYS was about 0.00003BTC. The price was increased 3.2 million times. Binance issued an announcement at 8:00 am on July 4th: announced temporary maintenance, suspension of trading and withdrawal.
On the evening of July 4, Binance issued an announcement stating that the incident was due to some API users. The API is an interface that can perform automated transactions. By controlling the API interface, the hacker manipulated the user’s account trading, thereby manipulating the price. The purpose of the hacker was not to steal the BTC from the Binance platform. Instead, their purpose was to increase the price of a coin, and then sell it at a high price on other trading platforms for profits.
It can be seen that the 24-hour volume of SYS has surged since the early morning of July 4. On trading platforms other than Binance, SYS’s trading volume reached hundreds of million dollars, and hackers were very likely to buy SYS ahead of these trading platforms, waiting for the opportunity to sell at a high price.
Binance’s plan for this abnormal trading event is as follows:
Binance deleted all API records and users can recreate and keep their API KEYs. Transactions that involved abnormality were rolled back.
Transactions that involved active participation from users who experienced great loss will be exempt from handling fees from 2018/07/05 to 2018/07/14.
The Binance Investor Protection Fund (SAFU) was established. From 2018/07/14, 10% of the transaction fees will be used as the investor protection fund, and the platform will pay the users first.
The issue Binance experienced has always been one of the most concerned topics for the users of the blockchain space. As the global transaction scale of digital assets continues to expand, the risk of hacker-attacks on cryptocurrency trading platforms are also increasing, and the current security incidents are frequent. The trading platforms must prevent hacker-attack and ensure the security of user assets through a series of risk control measures and security systems. Strengthening transaction security should be the primary task of cryptocurrency trading platforms and should be an important goal for the long-term development of the blockchain industry.
Appendix: Upcoming Crowdfunding Projects(7.7-7.13)
Project Token Public offering launch date Public offering close date Field Token Quantity Public offering percentage* Hard cap Letsbet XBET 2018/7/7 2018/8/8 Gambling 100M 77% 10000 ETH Iagon IAG 2018/7/7 2018/9/7 Cloud services 1B 70% — Zodiaq ZOD 2018/7/8 2018/8/7 Finance 300M 80% 24.54M USD REPU REPU 2018/7/8 2018/8/8 Consumerism 250M 80% 3000 ETH BotGaming BOT 2018/7/9 2018/8/6 Gambling — 60% 5M USD OBSERVER TED 2018/7/9 2018/7/30 Consumerism 10B 40% 4,000 ETH XBIT XBIT 2018/7/10 2018/7/24 Corporate services 1B 30% — Smart City Enterprise CITY 2018/7/10 2018/9/2 Consumerism 220M 50% 48M USD MYDFS MYDFS 2018/7/10 2018/8/10 Entertainment 125M 40% 4M USD WallChain WALL 2018/7/10 2018/7/30 Cryptocurrency and payment 15M 60% 3M USD iShook SHK 2018/7/10 2018/12/31 Content copyright 1B 57% 20000 ETH PearlPay PRLPAY 2018/7/10 2018/8/30 Cryptocurrency and payment 500M 35% — XRT XRT 2018/7/11 2018/8/30 Consumerism 500M 51% 40000 ETH
Appendix: Upcoming Crowdfunding Projects(7.7-7.13)
Project Token Public offering launch date Public offering close date Field Token Quantity Public offering percentage* Hard cap Plentix REFER 2018/7/11 2018/7/24 Consumerism 400M 70% 3M USD OkeyDokey OKEY 2018/7/11 2018/7/31 Consumerism 750M 60% — JSEcoin JSE 2018/7/11 2018/10/1 Cryptocurrency and payment 40B 50% — Gnome Invasion GIT 2018/7/11 2018/9/28 Game 50M 78% — EtherAce Speculation Platform ACED 2018/7/12 2018/8/16 Gambling 125M 80% 8665 ETH HELIX Orange HIX 2018/7/12 2018/7/27 ICO platform 5B 70% — BiteCoin Network BiteCoin 2018/7/12 2018/8/30 Consumerism 7B 70% 50000 ETH Block66 B66 2018/7/12 2018/8/1 Lending 310M 50% 3M USD ALLUXE LXC 2018/7/12 2018/8/16 Consumerism 222M 50% 27500 ETH Sports Ledger SPSL 2018/7/12 2018/7/26 Entertainment 417M 60% 194,000 ETH Lamoneda LMDA 2018/7/13 2018/8/30 Notary certification 500M 72% 10M USD Tip Blockchain TIP 2018/7/13 2018/8/17 Cryptocurrency and payment 100M 60% 46450 ETH ValPromise ValPromise 2018/7/13 — Asset management 5B 15% 20000 ETH
Weekly Blockchain Industry Report(12th Issue) 2018.6.30-7.6 OK Blockchain Capital published first on https://medium.com/@smartoptions
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Audits and Quality Assurance: Patching the Holes in Smart Contract Security
On July 10, 2018, news broke that cryptocurrency wallet and decentralized exchange Bancor was hit with a hack. A wallet the Bancor team used to update the protocol’s smart contracts was infiltrated, and the $23.5 million vulnerability allowed the hackers to run off with $12.5 million ETH, $1 million NPXS tokens and $10 million of Bancor’s BNT token.
Following the hack, the Bancor team froze the BNT in question in an effort to stanch its losses.
The latest of its kind, the attack is an unfortunate reminder that smart contracts are not foolproof. Even built as they are on the blockchain’s security intensive network, they can feature bugs, backdoors and vulnerabilities that are ripe for exploitation.
Before Bancor, we saw the popular Ethereum wallet Parity drained of 150,000 ETH (now worth just over $68 million) in July of 2017. In November of the same year, Parity lost even more than this when a less-experienced coder accidentally froze some $153 million worth of ether and other tokens.
In perhaps the most infamous smart contract hack in the industry to date, The DAO, a decentralized venture fund, lost 3.6 million ether in June of 2016. The stolen funds are now worth $1.6 billion, and the fallout of the attack saw Ethereum hard fork to recoup losses.
The Why and How: Making the Same Mistake
If three’s company, then The DAO, Parity and now Bancor have become the poster triplets of smart contract vulnerabilities. But they’re not alone in their weakness, and similar smart contract bugs have been exploited or nearly exploited on other networks.
For such a nascent technology, such flaws may be expected, but given the mass sum of funds these contracts are supposed to protect, truly stalwart security measures are not yet routinely employed.
To Hartej Sawhney, co-founder of Hosho cybersecurity firm, the sheer amount of funds at stake is enough of an incentive to attract black hats to these smart contracts, especially if there’s a central point through which they can probe for access.
“There’s money behind every smart contract, so there’s an incentive to hack into it. And the scary part of smart contracts like Bancor is that they’ve coded their smart contracts in a way that gives centralized power to the founders of the project. They’ve put this backdoor in there,” Sawhney told Bitcoin Magazine in an interview.
Sawhney is referring to Bancor’s ability to confiscate and freeze tokens at will, as the smart contracts that govern their wallet and exchange feature central points of control. This degree of control has been widely criticized as centralized to the point that Bancor shouldn’t be able to advertise itself as a decentralized exchange.
And it may have even provided the hackers with an entry point into the network. While Bancor has not revealed the specifics of the hack and its execution, the team wrote in a blog post that “a wallet used to upgrade some smart contracts was compromised.” Sawhney indicated in our interview that “most smart contracts are coded to be irreversible,” while Bancor’s own are completely mutable. The hackers could have exploited — and likely did exploit — the same backdoor that the developers put into place to manage their project.
Bancor aside, Dmytro Budorin, CEO of cybersecurity community Hacken, echoed Sawhney’s belief that the industry’s treasure trove of assets is a powerful impetus for hackers to dirty their hands. He also believes that the relative youth of the technology makes it vulnerable to detrimental exploits.
“Coding on blockchain is something new,” Budorin added in an interview with Bitcoin Magazine. “We still lack security standards and best practices on how to properly code smart contracts. Also, when coding smart contracts, programmers think more about functionality than about security, since a programmer’s main task is to simply make the code work, and security is usually an afterthought.”
Working with new programming languages, security can take a back seat to functionality. More than just the casualty of a steep learning curve, Sawhney believes that security can slip by the eye of software engineers because they “don’t have a quality assurance (QA) mindset.”
With millions at stake and potential holes in the code to exploit, hackers are bound to drum up a scheme to breach these contracts, according to Budorin. Even if a team has audited their code for expected or known vulnerabilities, “a new type of attack can be developed any time and nothing can protect you from this.”
All it takes is a spurt of intuitive thinking to probe a smart contract’s code for an unexplored opening, Amy Wan, CEO and co-founder of Sagewise, iterated in a separate interview with Bitcoin Magazine.
“It is not often that developers are able to write perfect code that works the first time around — and even when that happens the code cannot be adapted to unforeseen situations. Code is also static, which makes smart contracts very rigid. However, humans are anything but static and very creative when it comes to problem solving. This combination creates something of a perfect storm, making smart contracts ill-suited where there are bugs in coding or loopholes/situation changes.”
Wan believes that “technology isn't about tech itself as much as it is about how humans interact with it,” meaning that we “are always going to have folks looking for opportunities to test the shortcomings of technology, which may result in hacks.”
To Wan, smart contracts feature intrinsic vulnerabilities. To make security matters worse, she also holds that they “cannot be amended or terminated (or in technologist speak, evolved or upgraded),” and their static nature renders them susceptible to the dynamic, adaptive strategies of black hats.
“Code aside, with every situation, there are an infinite number of things that can go awry. The rigidity of smart contracts presently cannot accommodate the fluidity of the real world,” she said.
Mending the Achilles Heel
If technical flexibility is the crux of smart contract weakness, then the fix is in the inception and carry-through of their development. Developers should put preventative measures in place to ensure that their code can bend without breaking, the CEOs expressed.
“We need to have a more comprehensive approach in order to solve this problem in the long term,” Budorin argued. “First of all, even though it is impossible to make all contracts absolutely secure, smart contract risks can be reduced. The best way to secure a smart contract is to have a security engineer on staff, conduct two different independent audits, and launch a bug bounty program for a dedicated period of time before deployment.”
Hacken itself facilitates such bug bounties, and the platform, called HackenProof, has seen its white hat community audit and test such industry projects as VeChainThor, Neverdie, Legolas Exchange, NapoleonX, Shopin and Enecuum. Budorin and his team find that bug bounties provide a reliable if tertiary buffer for projects before they go public.
“We believe that the only efficient way to mitigate modern cybersecurity threats is to host bug bounty programs on bug bounty platforms. This is called a crowdsourced security approach,” Budorin explained.
“Bug bounty platforms attract a crowd of third-party cybersecurity experts (dozens if not hundreds at a time) to test the client’s software. Testing can be ongoing for months or even years.”
Sawhney agrees that projects need to house more on-staff security experts to police vulnerabilities, while lamenting the fact that some projects lack a CIO or CTO for this effect. But he also indicated that, in some cases, companies need only to submit themselves to a proper audit to avoid a fate similar to Bancor’s.
“Some of these companies believe that they have the world’s best engineers, so they think they don’t need an audit. And if they get one, chances are they’ve done a third-party audit that was in their favor. Even if they’re getting an audit, some of these audit companies aren’t doing what we deem to be a professional audit. They’re taking the code and putting it through automated tooling. They’re not taking the time to do some of the more manual tasks which includes a dynamic analysis, quality assurance,” he explained.
The manual tasks that Sawhney lauds are at the heart of Hosho’s own auditing processes. They allow Hosho’s team to sniff out coding errors that automated tooling might miss, like discrepancies between the smart contract’s token algorithms and a white paper’s business model.
“So the most manual part of conducting an audit is marrying the code to the words — we call it dynamic analysis. Most of the time when we find errors with a smart contract, we’re finding colossal errors in the business logic. We’re finding everything from mathematical errors to errors in token allocation,” Sawhney said.
He went on to reveal that Hosho’s team includes professionals “from the infosec, devcon communities that are white hats who have spent years doing QA.” QA, shorthand for quality assurance, is a method by which coders test a code for its designed function to check for any malfunctions, defects and other flaws that may render it vulnerable or inoperable.
As Sawhney indicated earlier, part of the reason these projects and their auditors don’t do QA is simply because they lack the professional experience to do so. It’s easier, he claimed, to teach Solidity (a smart contract coding language) to those who know how to conduct sound QA than the other way around.
When lack of QA training or a learning curve isn’t the issue, however, Sawhney suggested that, at times, projects won’t secure a thorough audit because they’re simply cutting corners.
“Sometimes I think it’s sheer laziness and being cheap. They see that cost to code a smart contract was only $10k and [an auditor] is charging $30k to review it. They say, ‘Nah, we don’t need that. We have the best engineers in the world so we’re good.’”
To Sawhney, there’s no substitute for a thorough audit. He also holds that, once an audit has been completed, the smart contract should come with a seal of approval, one that both attests to the audit’s quality and reassures users that no code has been altered after the fact. For Hosho’s work, this comes in the form of a GPG file, a cryptographic stamp that simultaneously functions like a certificate of authenticity and denotes the final (or at least most recent) version of audited code, acting rather like the seal on a bottle of cough syrup that proves it hasn’t been tampered with since it last passed quality control.
“Having central governments, regulators, lawyers, PR firms, investors, token holders — everyone — looking for this GPG file, this sign of approval [answers the question]: Has this code been sealed? Because we can monitor this code once we’ve put this seal on it to prove that no one has touched this code, not one line of this code has been changed since a third party audited it. If code changes you’re opening up room for security vulnerabilities.”
Wan’s own solution offers a different sort of prescription, in that she adds post-audit safety nets like Sagewise’s software as a smart contract’s third line of defense.
“Going forward, I believe that blockchain companies will be able to prevent smart contract disasters by using a smart contract developer whose sole focus is developing smart contracts, hiring a reputable security auditing firm, and including a catch-all safety net into smart contracts, such as Sagewise's SDK.”
The Sagewise SDK integrates with smart contracts to police malicious inputs. It gives developers the chance to freeze the smart contract in question and adjust it accordingly.
“It starts with a monitoring and notification service so users are aware of what's happening with their smart contract. Paired with our SDK, which basically acts as an arbitration clause in code, users are notified of functions executing on their smart contract and, if such functions are unintended, [they have] the ability to freeze the smart contract. They then can take the time they need to fix whatever needs to be fixed, whether that's merely fixing a coding error to amending the smart contract or resolving a dispute,” she said.
A Community Problem, a Community Solution
In our interview, Wan claimed that “[less than] 2 percent of the population is able to read code.” Fewer people still are able to read Solidity, let alone at the level needed to insulate it with airtight security features.
So even if projects and companies want to take the measures necessary to vet and protect their code properly, they may be wanting for talent and resources. This problem will likely be educated out of existence as more software engineers develop a thorough, more sophisticated understanding of Solidity and other smart contract programming languages. More mature coding languages may present a solution to this ailment, as well.
But for the time being, the community can help developers and teams to err on the side of caution. Like an arbiter with skin in the game, people using these services need to step up and demand action and change, Wan believes. Otherwise these types of security breaches will continue to happen.
“[B]ecause much of the population cannot read code, it is difficult for them to hold developers accountable for when they do things like code an administrative backdoor into their smart contract (which many large projects have done),” said Wan.
“Just in 2017 alone, half a billion dollars in value was lost in smart contracts, but that apparently has not been enough to get developers to consider adding additional safety nets or community members to demand them. Perhaps we will need to lose billions more to get people to realize that this isn't how the system should work.”
Sawhney also reiterated this point: “[More] people need to be outspoken, call people out. I think people are scared because the community is tight-knit and everybody knows everybody. No one wants to shun people. There’s not enough self-governance in this space, and I think that’s the biggest step this community needs to take.”
He added, “[not] enough pressure [is] being put on security; there’s not enough regulation around security.”
In an effort to bring self-regulation to the forefront of the industry’s to do list, Hosho is hosting a summit for cybersecurity firms in Berlin. Slated for this September, Sawhney hopes the summit will spawn a self-regulatory organization (SRO) from its attendence, “complete with a certificate for our work, kind of like the Big Four for financial audits.”
Adding to the conversation on self-regulation, Budorin finds that the community would do well to document exploited vulnerabilities. This would create a library of case studies and situations for developers to study and to create the solutions necessary to avoid the same pitfalls in the future.
“...the blockchain community needs to collect, store and analyze all known vulnerabilities that have been found in smart contracts and host regular security conferences that will cover security issues in blockchain and develop security guidelines so that new generation of blockchain programmers is more prepared for these problems,” he said.
The onus is not on the community alone, as the lion’s share of responsibility rests on developers to ensure that their code is as sound as possible before reaching an audience. Together, however, the industry’s community and its architects may combine perspectives to make smart contract hazards an issue of yesterdays.
Until then, Sawhney, Budorin and Wan’s perspectives — and their respective companies’ purposes — provide a healthy reality check for the industry’s pain points. For mainstream adoption and acceptance, these points need be addressed if there is to be any sort of sustained sense of confidence in this new technology.
This article originally appeared on Bitcoin Magazine.
from InvestmentOpportunityInCryptocurrencies via Ella Macdermott on Inoreader https://bitcoinmagazine.com/articles/audits-and-quality-assurance-patching-holes-smart-contract-security/
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NaPoleonX (NPX) - Crypto Asset Manager Piloting Trading Bots
NaPoleonX has ambitions to become the first algorithmic asset management company for crypto investors. The value proposal is underpinned by long standing performing trading bots running on a variety of highly liquid assets.
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Do You know many ICOs where the team conducts more than 15 meetups, conferences, and forums around the world before the start of the PRE-ICO?
NapoleonX team is unstoppable and had already conducted at least 18 meetups, conferences, and forums around the world!
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submitted by /u/Artedoc [link] [comments] Do You know many ICOs where the team conducts more than 15 meetups, conferences, and forums around the world before the start of the PRE-ICO? published first on http://ift.tt/2lZ6zaq
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Weekly Blockchain Industry Report [June 30th–July 6th, 2018]
The past week’s daily average global market capitalization of cryptocurrency was $261.95 billion and the daily average transaction volume was $14.47 billion, indicating a decline of 4.91% and 3.02% respectively. The daily average market capitalization of the top five cryptocurrencies decreased by 4.42% from the previous week. Among the top five, EOS has experienced the greatest price increase in the past week with a high of $9.39, a decrease of 21.32%.
Data source:coinmarketcap
Of the top 10 cryptocurrencies that increased, 80% of the tokens were of the vertical industrial application sector. Also, SRCOIN of the cryptocurrency and payment sector experienced the greatest increase in price
Table 1. Tokens with Greatest Price Increases Last Week
Ranking Project Token Field Brief description Trading amount(24h) Token price Increase/7d 1 SRCOIN SRCOIN Medical insurance The basic model of the SRCOIN project is to combine the massage chair subscription business with a decentralized health data platform. $1,665,020.00 $0.00 57.07% 2 Dorado DOR Consumerism Dorado is a food delivery platform based on MVP commercialization. $1,997,530.00 $0.03 45.88% 3 AI Doctor AIDOC Medical insurance AI Doctor is a private AI doctor who can provides general help. $5,048,460.00 $0.03 33.69% 4 MARK.SPACE MRK Entertainment The world’s first VR/AR platform based on blockchain technology. $3,055,790.00 $0.06 33.06% 5 NaPoleonX NPX Asset management The NapoleonX project aims to provide investors a new way to invest by creating a cryptocurrency fund (DAF). $622,455.00 $0.28 28.42% 6 GoChain GO Public chain and protocol GoChain is a high-speed, low-cost Ethereum expansion network. $4,069,160.00 $0.06 28.04% 7 ODEM ODE Education ODEM is an on-demand education platform built on the Ethereum blockchain. $970,245.00 $0.36 26.31% 8 Solaris XLR Cryptocurrency and payment Solaris is a cryptocurrency that uses the POS consensus mechanism. $82,911.00 $3.75 25.73% 9 Delphy DPY Gambling Delphy is the first distributed forecasting market based on blockchain in China. $2,987,620.00 $0.82 24.52% 10 AdHive ADH Advertising AdHive is a marketing platform that uses artificial intelligence and blockchain technology to control market traffic. $281,552.00 $0.05 22.61%
Data source:coinmarketcap;retrieved at 12:00 on July 6th, 2018
1. Analysis of Top 200 Market Cap Projects
The market capitalization of top 200 projects increased by 11.47% compared with that of last week. Based on the main categories of cryptocurrency and payment, public chain and protocol, vertical chain and protocol, and vertical industrial application, the vertical chain and protocol sector increased the most, increasing by 18.34%.
Through further classification of the vertical chain and protocol, it was found that this week’s corporate services and social network verticals were on obvious increases at a rate of 55.62% and 39.24%. Cloud services and entertainment verticals experienced the greatest decreases with a rate of 29.70% and 10.81% respectively.
Data source: OK Blockchain Capital
2. Analysis of Newly Listed Projects
There were 10 new projects in the market last week (mainly of the content copyright vertical), 90% of which dropped in price within 24 hours of listing. Most of the newly issued tokens were listed on IDEX and HitBTC.
Data source:Coinmarketcap,feixiaohao,OK Blockchain Capital analysis
Table 2 . Newly listed projects
Project Token Field Exchange Platform Initial Listed Price($) Current Price($) 24h Trading Volume($) Launch Date 0chain ZCN Cloud service Ethfinex、IDEX 0.496757 0.514678 272,596 7/3 Egretia EG Public chain and protocol OKEx、Hotbit、IDEX 0.009094 0.008900 324,066 7/3 TaTaTu TTU Content copyright HitBTC 0.595679 0.554663 98,558 7/3 Dorado DOR Transportation HitBTC 0.011696 0.015109 784,331 7/3 ZINC ZINC Human resources Kucoin 0.164451 0.195345 3,155,520 7/4 CarBlock CAR Data services Bibox 0.038657 0.028182 642,723 7/4 Bob’s Repair BOB Consumerism Hotbit、IDEX 0.024513 0.023844 447,692 7/4 KanadeCoin KNDC Cryptocurrency and payment CoinExchange 0.000264 0.000260 42,004 7/4 Cardstack CARD Cryptocurrency and payment IDEX 0.006403 0.006556 524,788 7/4 Wowbit WWB Content copyright Bit-Z 0.265396 0.263429 413,667 7/4
Data source:Coinmarketcap, Feixiaohao
3. Analysis of Closed Public Sales Projects
There have been 43 closed public sales projects this week, totaling nearly 510 million USD. Among these projects, projects of the asset management field received most funding. This was closely followed by projects of the cryptocurrency and payment field.
Table 3. Closed public sales projects (6.30-7.6)
Project Token Field Platform Soft Cap/$10K PORNX PORNX Cryptocurrency and payment Ethereum 1500 Robo Advisor Coin RAC Asset management Ethereum 900 Robo Advisor Coin DUCAT Data services Ethereum 381 TaTaTu TTU Content copyright Ethereum 25000 ProKareX PKX IoT Ethereum 750 FENIX.CASH FENIX Content copyright QTUM 1000 Globatalent GBT Token Asset management Ethereum 500 PlayBets PLT Game Ethereum 100 Bryllite BRC Game Ethereum 1000 Caerus Connections CAER Human resources Ethereum 1500 Lattice LTI Cryptocurrency and payment Ethereum 100 Nuggets NUG Consumerism Ethereum 150 Wixlar Coin ICO WIX Exchange platform Ethereum 400 PRETHER PTH Cryptocurrency and payment Ethereum 30 Equadex EDEX Asset management Ethereum 500 The Freedom Coin TFC Asset management Ethereum 2500 SleekPlay SKP Content copyright Ethereum 210 RECORD Foundation RCD Content copyright Ethereum 600 Cardium CAD Medical insurance Ethereum 500 Sandblock SAT Token Corporate services Ethereum 200 DigiDex DGX Cryptocurrency and payment Ethereum 240 Kurecoin KRC Cryptocurrency and payment Ethereum 200 Globatalent GBT Token Asset management Ethereum 500 GladAge GAC Medical insurance Ethereum 200 Global REIT GRET Asset management Ethereum 500 DarcMatter Coin DMC Asset management NEM 5000 CMBT CMBT Corporate services Ethereum 370 Tradingene TNG Asset management Waves 400 OptiToken OPTI Asset management Ethereum 22 RankingBall RBG Game Ethereum 300 VISO VITO Cryptocurrency and payment Waves 300 CookUp CHEF Consumerism Ethereum 2100 Monaco Estate MEST Asset management Ethereum 600 BitScreener BITX Asset management Ethereum 300 Utrum OOT Asset management Komodo 100 Whalesburg WBT Asset management Ethereum 300 Tokpie TKP Exchange platform Ethereum 150 Safe.ad SAFE Cloud services Ethereum 300 WELL WELL Medical insurance Ethereum 300 Kurecoin KRC Cryptocurrency and payment Ethereum 200 Sandblock SAT Token Corporate services Ethereum 200 Cardium CAD Medical insurance Ethereum 500
Main data sources: Icobench, Foundico, smith and crown, icodata, icodrops, coinschedule, icoadvert Secondary data sources:Project website
4. Important News on Global Governmental Policies this Past Week
5.Keeping Up with the Blockchain Giants
6.Hot Topic of the Week: Binance was attacked by hackers, and the SYS coin increased in price by 3.2 million times
At about 4:18 am on July 4, 2018, some Binance users reported that the SYS transactions displayed abnormal trading behavior. At about 4:30 am, the price of SYS/BTC on Binance was increased to around 1SYS=96BTC, which was the highest price of SYS. The previous price of SYS was about 0.00003BTC. The price was increased 3.2 million times. Binance issued an announcement at 8:00 am on July 4th: announced temporary maintenance, suspension of trading and withdrawal.
On the evening of July 4, Binance issued an announcement stating that the incident was due to some API users. The API is an interface that can perform automated transactions. By controlling the API interface, the hacker manipulated the user’s account trading, thereby manipulating the price. The purpose of the hacker was not to steal the BTC from the Binance platform. Instead, their purpose was to increase the price of a coin, and then sell it at a high price on other trading platforms for profits.
It can be seen that the 24-hour volume of SYS has surged since the early morning of July 4. On trading platforms other than Binance, SYS’s trading volume reached hundreds of million dollars, and hackers were very likely to buy SYS ahead of these trading platforms, waiting for the opportunity to sell at a high price.
Binance’s plan for this abnormal trading event is as follows:
Binance deleted all API records and users can recreate and keep their API KEYs. Transactions that involved abnormality were rolled back.
Transactions that involved active participation from users who experienced great loss will be exempt from handling fees from 2018/07/05 to 2018/07/14.
The Binance Investor Protection Fund (SAFU) was established. From 2018/07/14, 10% of the transaction fees will be used as the investor protection fund, and the platform will pay the users first.
The issue Binance experienced has always been one of the most concerned topics for the users of the blockchain space. As the global transaction scale of digital assets continues to expand, the risk of hacker-attacks on cryptocurrency trading platforms are also increasing, and the current security incidents are frequent. The trading platforms must prevent hacker-attack and ensure the security of user assets through a series of risk control measures and security systems. Strengthening transaction security should be the primary task of cryptocurrency trading platforms and should be an important goal for the long-term development of the blockchain industry.
Appendix
Table Upcoming Crowdfunding Projects(July 7-July 13)
Project Token Public offering launch date Public offering close date Field Token Quantity Public offering percentage* Hard cap Letsbet XBET 2018/7/7 2018/8/8 Gambling 100M 77% 10000 ETH Iagon IAG 2018/7/7 2018/9/7 Cloud services 1B 70% — Zodiaq ZOD 2018/7/8 2018/8/7 Finance 300M 80% 24.54M USD REPU REPU 2018/7/8 2018/8/8 Consumerism 250M 80% 3000 ETH BotGaming BOT 2018/7/9 2018/8/6 Gambling — 60% 5M USD OBSERVER TED 2018/7/9 2018/7/30 Consumerism 10B 40% 4,000 ETH XBIT XBIT 2018/7/10 2018/7/24 Corporate services 1B 30% — Smart City Enterprise CITY 2018/7/10 2018/9/2 Consumerism 220M 50% 48M USD MYDFS MYDFS 2018/7/10 2018/8/10 Entertainment 125M 40% 4M USD WallChain WALL 2018/7/10 2018/7/30 Cryptocurrency and payment 15M 60% 3M USD iShook SHK 2018/7/10 2018/12/31 Content copyright 1B 57% 20000 ETH PearlPay PRLPAY 2018/7/10 2018/8/30 Cryptocurrency and payment 500M 35% — XRT XRT 2018/7/11 2018/8/30 Consumerism 500M 51% 40000 ETH Plentix REFER 2018/7/11 2018/7/24 Consumerism 400M 70% 3M USD OkeyDokey OKEY 2018/7/11 2018/7/31 Consumerism 750M 60% — JSEcoin JSE 2018/7/11 2018/10/1 Cryptocurrency and payment 40B 50% — Gnome Invasion GIT 2018/7/11 2018/9/28 Game 50M 78% — EtherAce Speculation Platform ACED 2018/7/12 2018/8/16 Gambling 125M 80% 8665 ETH HELIX Orange HIX 2018/7/12 2018/7/27 ICO platform 5B 70% — BiteCoin Network BiteCoin 2018/7/12 2018/8/30 Consumerism 7B 70% 50000 ETH Block66 B66 2018/7/12 2018/8/1 Lending 310M 50% 3M USD ALLUXE LXC 2018/7/12 2018/8/16 Consumerism 222M 50% 27500 ETH Sports Ledger SPSL 2018/7/12 2018/7/26 Entertainment 417M 60% 194,000 ETH Lamoneda LMDA 2018/7/13 2018/8/30 Notary certification 500M 72% 10M USD Tip Blockchain TIP 2018/7/13 2018/8/17 Cryptocurrency and payment 100M 60% 46450 ETH ValPromise ValPromise 2018/7/13 — Asset management 5B 15% 20000 ETH
*The ratio between public offering Token quantity and the total Token quantity of the project. Main data sources Icobench, Foundico, smith and crown, icodata, icodrops, coinschedule, icoadvert Supporting data source: websites of the projects
The post Weekly Blockchain Industry Report [June 30th–July 6th, 2018] appeared first on CoinSpeaker.
Weekly Blockchain Industry Report [June 30th–July 6th, 2018] published first on https://medium.com/@smartoptions
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