These tokens are issued based on a smart contract. These contracts do not have to be ‘smart’ or super practical, therefore, it is a slightly unfortunate …
Regardless of what you think of Ethereum (and altcoins in general), it is a fact that this network has had and had a great impact on the entire industry. While bitcoin is considered primarily as a means of payment, during the huge increases in 2017, the ether was the driving force and the means of payment in many cases.
The Ethereum network was really forced to assume that role: the tokens in the network shot up like mushrooms. Suddenly, everyone wanted to issue the so-called ERC-20 token. Since the launch of the network, more than 200,000 Tokens have been issued on the Ethereum network according to EtherScan.
ERC-20 is a technical standard for implementing tokens in the Ethereum chain. Almost all the coins or tokens issued on this platform belong to this category. The most important example is the ether. That is the fuel of the Ethereum network and it is also an ERC-20 token. With ether, it pays to make transactions, but also to execute smart contracts, for example.
These tokens are issued based on a smart contract. These contracts do not have to be ‘smart’ or super practical, therefore, it is a slightly unfortunate name. However, these smart contracts ensure that the network and tokens must comply with certain rules. Therefore, you can program your tokens in a certain way and give it certain properties.
In 2017, the initial coin supply trend began. Everything and everyone had to have their own record. Often that was only possible with ETH. Which resulted in prices well above $ 1,000 per ether. Current hodlers can only dream of that. Millions could be collected. And if you could make a good marketing talk, you could charge wonderfully. Because investors were ready to push their ETH earned so hard to another new company.
Billions in investments in projects, most of which have never added anything to the crypto space. On the other hand, there are some outliers. If you look at the top 100, most remain an ERC-20 token. The largest token, after ETH, is currently Binance Coin (BNB). But that currency will eventually move to its own chain. But also other currencies that are popular this year, such as Chainlink (LINK) and Basic Attention Token (BAT) have been issued on the Ethereum network.
Walter Schulze brings all the breaking news stories in the tech and startup world and to ensure that Startup Fortune offers a timely reporting on the trends happen in the industry. He now works on a part time basis for Startup Fortune specializing in covering tech and startup news and he also sheds light on investment opportunities and trends.
It is a Multi-Blockchain smart contract and P2P service network to build and scale decentralized applications through a multi-layer architecture which …
It was good day for MOAC (MOAC), as it jumped by $0.00135497999999995 or 0.32%, touching $0.42704453. Global Crypto Experts believe that MOAC (MOAC) is looking for the $0.469748983 goal. According to 9 analysts could reach $1.03933371738749. The highest price was $0.43562607 and lowest of $0.41801133 for August 7-8. The open was $0.42568955. It last traded at BitZ exchange.
For a month, MOAC (MOAC) tokens went down -29.20% from $0.6032 for coin. For 100 days MOAC is down -38.71% from $0.6968. It traded at $0.4973 200 days ago. It has 150.00M coins in circulation. It was founded on 01/04/2018. The Crypto MOAC has PoW proof type and operates under algorithm.
MOAC is a public blockchain platform. It is a Multi-Blockchain smart contract and P2P service network to build and scale decentralized applications through a multi-layer architecture which splits the network into the main chain and upper layer micro chains. To increase the number of smart contracts that can be processed, MOAC uses the asynchronous smart contract technology.
The MOAC has started as an Ethereum-based cryptocurrency but has now launched its own mainnet. The token will be used to perform cross-chain transactions through the MOAC MicroChains, allowing the exchange between MOAC coins, BTC, ETH, or LTC.
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Its innovative smart contract solution creates a common source of trusted data and automated execution, based on consensus-validated terms.
Data Gumbo built its blockchain network to direct smart contracts, generating trust among parties, and executing contract terms. In a single day, the company can begin testing inputs and variables in preparation for running a live contract. Once it goes live, the platform acquires and standardizes the incoming data into formats applicable to the algorithms and, according to completion of components, produces a block in the chain or distributed ledger. Each block distributes to each node on the participants’ systems, wherein each node analyzes the functions of the contract, and each compares the results. When all nodes agree and certify the legitimacy of the contract terms and fulfillment, the platform approves the results and executes payment automatically.
Data Gumbo has the first-mover advantage as a provider of BaaS in the oil and gas sector and has begun expanding the use cases of its blockchain smart contract solution across the value chain, in shipping and logistics, supply chain, and trading. The company has also partnered with an energy leader, the Carnrite Group, to bolster its offering and to scale implementation.
“Data Gumbo ensures that smart contracts on its BaaS solution safeguard trust and security, assuring oil and gas sector companies of essential transparency and data confidentiality,” noted Walker. “Its blockchain ledger ties directly into the originally built secure Internet of Things data platform, providing end-to-end security for the data entering the ledger blocks.”
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About Data Gumbo Corporation
Data Gumbo is the Blockchain-as-a-Service (BaaS) company creating a massively interconnected blockchain network for industrial companies, including oil and gas. The company is headquartered in Houston, Texas, and Data Gumbo AS is a subsidiary with offices in Stavanger, Norway. In May 2019, Data Gumbo received a $6M Series A equity funding round co-led by Saudi Aramco Energy Ventures, the venture subsidiary of Saudi Aramco, and Equinor Technology Ventures, the venture subsidiary of Equinor, Norway’s leading energy operator. Data Gumbo was named Most Promising Energy and Clean Technology Company at the 16th Annual Energy & Clean Technology Venture Forum in 2018. For more information, visit www.datagumbo.com, and follow on LinkedIn, Twitter @DataGumbo, and Facebook.
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Catapult is a blockchain engine which is able to power both private and public networks with its unique smart contract plugins. These plugins enable:.
NEM Ventures (NEM), the venture capital and investments arm of the NEM blockchain ecosystem, has invested in IoDLT, a B2B blockchain and IoT-based startup. IoDLT utilises IoT and NEM Catapult to provide scalable, cost-effective B2B solutions that automate approaches to securely recording sensor-based IoT data directly to an immutable, distributed, and trusted ledger.
David Mansell, Director and Co-founder of NEM Ventures, said: “We see huge potential in IoDLT, and are thrilled to be investing in a startup with significant potential for scalability. Facilitated by NEM Catapult, IoT devices connected directly to the blockchain will have a wide array of industry applications.
“We’re excited to be at the intersection of blockchain and IoT, and to see first-hand the solutions that can be put in place to increase business efficiency and security.”
The core IoDLT product is a small form IoT device which runs a NEM Catapult node (or entire private chain) which:
enables direct connection of various sensors and computing capability to a Catapult chain
provides the full functionality of a blockchain solution at a fraction of the cost
is usable in either a private or public chain scenario.
The IoDLT solution means opens up any business to make use of Catapult’s features, including:
decentralised swaps between businesses
on-chain account systems
user data management
secure business logic modeling.
With security and decentralisation at the forefront of its solutions, IoDLT has a no-central-server policy. All data is:
either stored privately
or stored publicly on the blockchain
or located in distributed storage
with encryption, to ensure maximum data integrity.
IoDLT’s solutions integrate IoT and blockchain seamlessly into already-established business operations. Potential or existing tangible applications apply across a range of industries, including:
artificial intelligence (AI)
alternative energy metering
Disruption to come
IoDLT plans to release a blockchain and IoT healthcare management solution within the next year. This will leverage Catapult to facilitate:
Internet of Medical Things
This solution will save time and cost processing while streamlining stakeholder relations. It is for doctors, patients, and health insurance companies. (IoDLT currently has a pilot medical clinic in place to test this solution before its official launch in Q2 2020.)
Bader Youssef, CTO of IoDLT, said: “We strongly believe that businesses should respect their users’ data, and NEM Catapult makes this all possible. Its highly performant, secure, and modular nature allows us to have full flexibility with our solutions.
“Catapult allows us to focus more on providing high quality solutions, rather than worry about the safety and complexity of the technology. IoT devices benefit from this simplicity, as Catapult can interact with nearly any language and platform that supports the ability to make API calls and allows the devices to communicate securely. As a result, we can allow any business to utilize a fully secure and private blockchain and IoT solution, without the huge overhead costs.”
Catapult is a blockchain engine which is able to power both private and public networks with its unique smart contract plugins. These plugins enable:
digital asset creation
advanced account systems
business logic modeling.
Aggregated transactions merge multiple transactions into one. This allows trustless swaps, automatic cross-chain transactions, and other advanced logic. Catapult does this by generating a one-time disposable smart contract. When all parties have approved a transaction, all execute at once.
For example, a buyer might want to purchase a license (such as media usage rights). The license lists for sale on an exchange but the owner may prefer to keep all private keys off exchanges. To complete a transaction, Catapult creates the three transfers needed to make a trustless swap:
the payment transfer to the seller
the license transfer to the buyer.
the payment of a small exchange fee for executing the transfer.
Catapult executes all three transfers simultaneously – as one transaction. This built-in escrow means all transfers succeed together – or they all fail together. While transactions may execute on exchanges, the exchanges never hold the keys: funds cannot be seized or interrupted.
Enterprise Times: what does this mean
Founded in 2018, IoDLT combines IoT and blockchain. Its intention is to provide seamless, secure, and scalable B2B solutions with security appropriate to small and large businesses alike. It aims to do this without compromising user data privacy and user-to-business interactions yet exploit affordable IoT and blockchain protocols to secure the devices of the world.
The attraction of IoDLT for NEM Ventures and its Catapult platform is self-evident. Combining the IoT and security aspects of a blockchain network offer many possibilities. Irrespective of whether ‘disruption’ in the healthcare industry is an attractive asset, the potential functions and automation should be.
The market capitalisation of the Ethereum network has fallen below the levels observed prior to its epic price run up in 2017. The total value of all Ether …
The market capitalisation of the Ethereum network has fallen below the levels observed prior to its epic price run up in 2017. The total value of all Ether (ETH) tokens in existence now accounts for just less than eight percent of the entire cryptocurrency market.
At the height of Ethereum hype, the smart contract platform accounted for over a third of the wider digital currency market. This caused its proponents to claim that it would overtake Bitcoin in a so-called “flippening”.
Ethereum’s Fall from Grace
As highlighted by Twitter user @StopAndDecrypt earlier today, Ethereum’s share of the entire cryptocurrency market has fallen to just 7.86 percent. This is the lowest it has been since early March 2017.
High profile interest in the smart contract platform caused a lot of the hype that saw Ethereum’s rise to over a third of the entire digital currency market by June of the same year. Early announcements from the newly-formed Enterprise Ethereum Alliance announced the interest of big companies to investors eager to realise the kind of gains early Bitcoin speculators had seen. The likes of Toyota, Delottie, and the Royal Bank of Canada joined a host of other household names and blockchain startups as members of the organisation.
At a similar time, infighting over how to scale the network plagued the Bitcoin community. This likely contributed to Ethereum’s rising share of the market as many people diversified Bitcoin holdings into other projects fearing that a new technology would usurp Bitcoin’s position at the top before the number one cryptocurrency could address its own issues.
However, the so-called “flippening” (Ethereum overtaking Bitcoin), championed by many Ethereum proponents the time, never happened. Money flowed back into Bitcoin following its successful hard fork and those not aligned with its road path departed to work on Bitcoin Cash and later Bitcoin SV. Updates from the Enterprise Ethereum Alliance also slowed down and it emerged that many companies were interested in using private versions of Ethereum. Thus their involvement in the group would be unlikely to drive prices up with the launch of some killer application as many had hoped.
What’s more, the shortcomings of the Ethereum network were very publicly demonstrated at the tail end of the 2017 too. The first truly popular decentralised application launched on the blockchain, CryptoKitties, caused such a spike in network use that it ground to a halt. Clearly, Ethereum was a long way from supporting the kind of world-changing, never-stop applications that lured many early investors to back the project.
Since then, apart from a few blips, Ethereum’s market share has gradually declined to its current point before the Enterprise Ethereum Alliance made its big announcements. The bear market years, along with a lack of meaningful updates from developers and still no world-changing applications has caused investor interest to drop significantly. The beneficiary of this drop, and those of other so-called alt-coins, has been Bitcoin, which recently rose to its highest point of market dominance in over two years.