Mediaboss Marketing

In March 2020, Simon Harman and the team at Oxen (formerly known as LOKI) found themselves in a tight spot. It was the start of the global pandemic, and they were running out of funding, having worked to build products for three years during a bear market. To top it all off, Bitcoins value had just dropped to a historic low of $3,000. We were staring down the barrel of death, basically, Harman recalls. It was clear that to survive the team needed to develop new productsideally, ones that operated in a different market than the privacy space. Oxens encrypted messaging app, Session, had just been released; that platform would ultimately gain a great deal of popularity, boasting some 700,000 monthly users. However, in early 2020, Session had not yet become profitable, and Oxen was finding the privacy space particularly difficult to operate in. They needed something new, and fast.

There was one idea that particularly interested Harman and his team. They found themselves inspired by the thought of a decentralized and chain-agnostic system that would enable native cross-chain swaps of cryptocurrencyoptimally, without having to resort to wrapped tokens or specialized wallets or complex smart contracts, and with low slippage. Some products were coming to market that accomplished some of these goals, but Harman and his team envisioned a way for all these capabilities to work in one seamless package. As a result, Chainflip was established, and the development of the protocol began later that year.

The necessity for a decentralized, chain-agnostic solution is fairly obvious, Harman says. Say I want to buy Bitcoin with $100,000. I can go and take that huge amount of money on Binance or any other centralized exchange and effectively just be able to get it at market price. However, what if I dont want to do it on a centralized exchange? If I want to do that on-chain, currently, I cant do that natively. I cant just get actual Bitcoin in a Bitcoin wallet. I can maybe get some wrapped thing somewhere, but that carries a whole bunch of security risks that defeat the purpose. If I want native Bitcoin, there is currently no facility in the world to do that on-chain for anywhere less than 3% slippagewhich means Im paying 3,000 U.S. dollars to buy Bitcoin that I could buy on a centralized exchange basically at cost. So there is a huge problem there.

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Harman explains that theres also a lack of efficient market structure to facilitate these currency swaps at any sort of scale. Sure, you can maybe do a few 100 bucks, but if were really going to compete with centralized exchanges, and make the Web3 industry a legitimate industryrather than some blockchains, facilitated by a bunch of companies that are currently under the pump by regulators for a variety of reasons (many of which are totally justified)something that has to happen.

Harman acknowledges that Chainflip is not the only cross-chain DEX on the market. What is interesting about Chainflip, he says, is that it uses threshold signature schemes to create wallets on all these different blockchains. Binance, for instance, has a lot of wallets on a lot of different blockchainswhen users want to do cross-chain swaps using Binance, they use the money sitting on those different chains to withdraw and deposit from them at will, and then do the actual trading off-chain. Harman says this is a very efficient method: They dont care about the underlying blockchain structure, and you dont have to write all these crazy smart contracts. Its all just abstracted away, which lets you do a lot of really nice things for users. Chainflip, Harman says, builds on the same concept of having a chain-agnostic back end, but instead does the trading itself on-chain in a specialized app chainand uses the threshold signature schemes to achieve all of this in a completely decentralized network.

Moreover, while other products may have architectural similarities, Harman explains that Chainflips markets are structured completely differently. Were much less restrictive on liquidity and pricing. We introduced limit orders and things like this to take advantage of liquidity on centralized exchanges and other markets as well. The way the threshold signatures work and the chains we are supporting are different than anything else available.

Harman realizes that ultimately the clients will determine the relevance of Chainflip. I think at the end of the day, its going to come down to a few things: speed, gas and pricing, all of which we expect to be able to improve on in the markets. I think Chainflip will have a very compelling positioning.

A crypto devotee since his high school years, Harman is cognizant of the fact that products like Chainflip could not have existed at any other point in time. There were a lot of new ideas floating around in the space that no one had really put all together yet before 2020, he says. For example, the FROST signing algorithm that we use is way more efficient than anything else that has come before. We knew that Bitcoin was going to make it possible to use that signing algorithm. So there were a few different developments, all arising at oncenew technologies that would enable the creation of a solution like Chainflip that, until 2020, was literally impossible.

In Harmans view, this type of innovation is only possible by standing on the shoulders of giants. Chainflip really is a cutting-edge technology thats been built off the back of a lot of research and experimentation that has occurred over the past 10 years in the crypto space, he says. So this really is an evolution on top of other great ideas that came before.

Simon Harman is CEO and founder atChainflip Labs.

This article was published through Cointelegraph Innovation Circle, a vetted organization of senior executives and experts in the blockchain technology industry who are building the future through the power of connections, collaboration and thought leadership. Opinions expressed do not necessarily reflect those of Cointelegraph.

Learn more about Cointelegraph Innovation Circle and see if you qualify to join

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How Chainflip is shaking up native cryptocurrency cross-chain swaps - Cointelegraph

A recent research study reveals a significant 65% decrease in cryptocurrency crimes in 2023

Cryptocurrency has gained popularity and legitimacy as digital money in recent years. Still, it also faces challenges from cybercriminals who seek to exploit its vulnerabilities and anonymity. However, according to a new report from Chainalysis, a blockchain data platform, cryptocurrency crime decreased significantly in the first half of 2023 compared to last year.

The report, titled Crypto Crime Midyear Update, shows that cryptocurrency inflows to known illicit entities have declined by a staggering US$5.2 billion (a 65% decrease) compared to the same time last year, while inflows to risky entities such as high-risk exchanges and crypto mixers are down 42%. The report covers various categories of crypto crime, such as hacks, malware, fraud, darknet markets, ransomware, and sanctions evasion.

The most notable decline was observed in scam revenues, which dropped by 77% from US$3.3 billion to US$1.0 billion in the first half of 2023. This is especially impressive given that scam revenues had already fallen 46% in 2022. The report attributes this decline to the collapse of FTX. This major Ponzi scheme defrauded investors of over US$2 billion in 2022, as well as the increased awareness and vigilance of crypto users and regulators.

However, not all types of scams have decreased. The report warns that impersonation scams, in which fraudsters pretend to be law enforcement officers or other authority figures to extort money from victims, have only seen a 23% decline in inflows in 2023. Moreover, the number of individual transfers to impersonation scam addresses has increased by 49% year-over-year, suggesting that more people have fallen victim to this type of scam in 2023.

The report also highlights ransomware as the only form of crypto crime growing in 2023. Ransomware is a type of malware that encrypts the data or systems of victims and demands a ransom in cryptocurrency for their release. According to the report, ransomware attackers have extorted at least US$449.1 million from victims in the first half of 2023, which is on pace to surpass the US$939.9 million set in 2021.

The report explains that ransomware has become more sophisticated and lucrative as attackers target larger organizations and demand higher ransoms. The report also notes that ransomware groups often use crypto mixers or high-risk exchanges to launder their proceeds and evade detection. The report urges businesses and governments to take preventive measures and cooperate with law enforcement agencies to combat ransomware.

The report concludes that the overall decline in crypto crime is a positive sign for the crypto industry and its users, as it reflects the increased security and regulation of the crypto ecosystem. The report states that crypto crime is becoming less profitable and more difficult for criminals to carry out and that the vast majority of cryptocurrency activity is legitimate.

The report also acknowledges that crypto crime is still a serious threat that requires constant monitoring and innovation from both the public and private sectors. The report recommends that crypto businesses adopt best practices such as implementing compliance programs, conducting due diligence on customers and partners, and reporting suspicious activity to authorities. The report also encourages crypto users to be cautious and informed when engaging with crypto platforms and services.

The report analyzes blockchain data from over 100 cryptocurrencies and tokens and other sources such as public reports, court documents, media articles, and expert interviews. The report is part of Chainalysiss ongoing research on crypto crime and its impact on the crypto industry and society.

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Cryptocurrency Crime Plummets by 65% in 2023, Research Shows - Analytics Insight

CryptocurrencyCybersecurityPartner content

The enormous expansion of cryptocurrencies in recent years has generated a tonne of potential for fraud. Scammers are constantly seeking new methods to take your money. While cryptocurrency may be accessed at any moment from your digital wallet, unlike physical cash, it gets not safeguarded by banks or another central body. Without these extra safeguards, con artists have learned how to enter and go without being seen, leaving you with nothing.

With general information and protection services, you can better safeguard your Bitcoin. Here, we explore some of the most exciting ways to prevent cryptocurrency fraud using cutting-edge cybersecurity technologies and practices.

Cryptocurrency transactions may be rather safe coming to buying, selling, and investing. Crypto criminals find it demanding to exploit the blockchain technology that protects data during these transactions.

However, you must avoid getting duped into feeling insecure. Hackers have been putting a lot of effort into creating cryptocurrency schemes to deceive users into divulging their wallet key phrases or other information that might give them access to their private accounts.

Implementing multi-factor authentication (MFA) is a crucial stage in preventing unauthorized access to cryptocurrency wallets and exchanges. MFA requires users to provide multiple verification forms, such as a password, a fingerprint scan, or a unique one-time code generated by a mobile app.

This additional layer of security significantly reduces the risk of fraudulent activities, as even if a hacker manages to obtain one authentication factor, they would still need access to the others to gain control over the account.

Cold storage refers to keeping cryptocurrency assets offline, away from internet connectivity. By utilizing hardware wallets, such as USB devices specifically designed for storing digital currencies, users can safeguard their funds against cyber threats. Hardware wallets offer secure key storage and transaction signing capabilities, ensuring sensitive data remains isolated from potential online attacks. This offline approach provides an extra layer of protection, making it significantly harder for hackers to compromise funds. Not only do cryptocurrencies need to be saved, but so does Moissanite jewelry another precious thing to be safeguarded.

Biometric authentication methods, such as fingerprint or facial recognition, offer an exciting and highly secure way to protect cryptocurrency assets. These unique physiological characteristics are difficult to replicate, providing a brittle layer of security against fraudulent attempts. Integrating biometric authentication into cryptocurrency wallets and exchanges enhances user protection and minimizes the risk of unauthorized access, as biometric data is nearly impossible to counterfeit.

Blockchain analysis and monitoring tools are crucial for detecting and preventing cryptocurrency fraud. These tools analyze transactions and wallet addresses, identifying suspicious activities and patterns. By leveraging machine learning algorithms and data analytics, these tools can provide real-time alerts and insights to users, exchanges, and regulatory bodies. This proactive approach allows for the early detection of fraudulent transactions, improving overall security in the cryptocurrency ecosystem.

Smart contracts, powered by blockchain technology, enable automated and trustless transactions. They are susceptible to vulnerabilities that can be exploited by malicious actors. Conducting thorough audits of smart contracts before deployment helps identify and address potential security flaws. Exciting developments in the field of cybersecurity include advanced static and dynamic analysis tools, formal verification techniques, and bug bounty programs. Thus, they encourage community participation in identifying and fixing vulnerabilities in smart contracts.

Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations play a crucial role in preventing fraud and illegal activities in the cryptocurrency space. By implementing robust KYC and AML procedures, cryptocurrency exchanges and service providers can ensure that users identities are verified, reducing the risk of fraudulent transactions and enabling law enforcement agencies to trace suspicious activities. Advances in identity verification technologies, such as biometrics and blockchain-based identity solutions, are making the KYC and AML processes more efficient and secure.

Security Token Offerings (STOs) represent a regulated approach to fundraising in the cryptocurrency realm. Unlike Initial Coin Offerings (ICOs), STOs comply with securities laws, providing investors with legal protections and greater transparency. By conducting due diligence on STOs and investing in regulated projects, users can minimize the risk of falling victim to fraudulent schemes and scams that plague the crypto industry.

Numerous cryptocurrency scams are complex and persuasive. You can decide to take the following actions to safeguard yourself from cryptocurrency scams:

Keep your wallets keys to yourself.

Watch your wallet app.

Invest only in the items you are familiar with.

Observe patience.

Ads on social media should be avoided.

Pass up cold calls.

Use only official platforms to download apps.

Perform research.

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Most exciting ways to prevent cryptocurrency fraud with cyber security - BusinessCloud

To shed light on the complex relationship between the SEC and cryptocurrency, weve gathered insights from six industry experts, including a Crypto Technical Writer, a Certified Financial Education Instructor, and several Founders and CEOs. From understanding the SECs potential crypto classification and investor caution to the enforcement of securities laws and its implications for the crypto market, this article provides a comprehensive overview of the SECs role in crypto regulation and its impact on investors and businesses.

As a seasoned expert in cryptocurrencies and blockchain technology, my years of experience and passion for staying abreast of the latest advancements allow me to effectively simplify complex concepts into engaging content, guiding readers to develop a clear understanding of this intricate field.

The SEC has been cracking down on illegal activities in the crypto sector for years. In fact, they are currently considering whether crypto should be classified as a security, commodity, or currency. If classified as a security, it would fall under the jurisdiction of the SEC.

However, too much regulatory interference could diminish the decentralized appeal of cryptocurrencies. Hence, investors must exercise extreme caution when investing in crypto assets as they can be volatile and speculative, and platforms, where investments can be made, may lack investor protection.

The SECs approach to cryptocurrency is like a parent trying to control a rebellious teenager. Theyre applying traditional securities regulations to a non-traditional asset. They focus on Initial Coin Offerings (ICOs), treating them like securities offerings.

But not all cryptocurrencies are created equal. Bitcoin, for instance, isnt considered a security, while ICOs are. This inconsistency can confuse investors and businesses. Businesses must be cautious in fundraising, or they could face SEC troubles.

Investors need to do their homework, as not all cryptocurrencies have the same level of protection. Until we have updated regulations, its a wild west in the crypto world. Buckle up, its a bumpy ride.

Regulation by the SEC is presenting significant challenges for cryptocurrency startups in the US. From my experience with crypto companies, it appears as if the SECs stringent regulations are pushing them to relocate overseas. Many have chosen jurisdictions like Switzerland, where regulations are clearer and fairer.

The long-term implications for the broader web3 ecosystem remain uncertain, given that blockchain technologys applications extend beyond traded coins. However, for cryptocurrency-specific ventures, the current regulatory climate in the US could either lead to an exodus or impose such a heavy burden that operating becomes excessively difficult.

The SECs approach to cryptocurrency regulation has significant implications for both investors and businesses, as the agency employs a multifaceted and somewhat deceptive strategy to manage this emerging field.

The agency has been actively litigating against businesses like Coinbase and Kraken, alleging operations as unregistered securities brokers and leading to debates on the future of U.S. crypto exchanges. Businesses and investors alike must remain vigilant and adaptable in this evolving regulatory landscape.

Imagine the SEC as a stylish dancer at a crypto party. They set the rules for cryptocurrencies, making sure everyone follows their steps. Some cryptos are considered securities by the SEC. That means they need to register and play by the SECs rules. If they dont, they might get a scoldingand have to pay fines.

So, what does this mean for investors and businesses? Well, for investors, its like having a trustworthy chaperone. The SEC keeps an eye on things and helps prevent scams, so you can feel safer when investing in crypto.

For businesses, its a bit of a mixed bag. Following SEC rules can make them look more legit and attract careful investors. But it also means more paperwork and dealing with legal stuff.

The Securities and Exchange Commission (SEC) regulates cryptocurrencies primarily through its enforcement of securities laws. The SECs approach involves assessing whether a particular cryptocurrency qualifies as a security, which depends on factors such as its investment potential and the involvement of centralized entities.

If deemed a security, the cryptocurrency must comply with registration and disclosure requirements, ensuring transparency and investor protection. These regulations have implications for both investors and businesses. Investors benefit from increased transparency and reduced risks associated with fraudulent or unregistered offerings.

However, businesses may face additional compliance burdens, costs, and restrictions when offering or trading cryptocurrencies that fall under the SECs purview. It is crucial for investors and businesses to stay informed about the evolving regulatory landscape to navigate the cryptocurrency market effectively.

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What Is the Role of the SEC in Regulating Cryptocurrency, and What ... - Block Telegraph

As Ethereum (ETH) and Ripple (XRP) continue to make waves in the cryptocurrency market, investors and enthusiasts eagerly await the price analysis for July 20th. In this article, we delve into the performance of ETH, and XRP, and introduce Signuptoken.com (SIGN), a promising brand with a unique approach to pre-sales. Whether youre an Ethereum or Ripple follower, or a crypto enthusiast seeking the next big opportunity, this analysis will provide valuable insights. Dont miss outjoin Signuptoken.com today and embrace the chance for financial success.

Ethereum, a decentralised and open-source blockchain platform, boasts its own native cryptocurrency known as Ether (ETH). Serving as a foundation for a multitude of other cryptocurrencies, Ethereum also excels in facilitating the seamless execution of decentralised smart contracts.

Ether (ETH) encountered a setback on July 17 as it dipped to $1,905, breaking below the support line of the ascending triangle pattern. Despite this, bulls are striving to reclaim the triangle, potentially invalidating the bearish move. A crucial milestone would be a push above the overhead resistance at $1,280, complemented by a close above the 50-day SMA ($1,383). Such a development could mark the beginning of a new upward trend. However, if the price rejects the support line, bears might attempt to breach the pivotal $881 level, setting the stage for further downside.

Ripple operates as a cutting-edge money transfer network explicitly tailored to cater to the demands of the financial services sector. XRP, the Ripple networks own digital currency, has continuously ranked among the top ten cryptocurrencies in terms of market value.

XRP faced a similar fate on July 17, plummeting below the support line of the symmetrical triangle. This downside break reflects the resolution of uncertainty between bulls and bears. Although the bulls made a modest effort to push the price back into the triangle on July 13, a long wick indicates a bearish sentiment on intraday rallies. A breach below $0.30 could lead to a drop towards the critical support at $0.28, potentially initiating the next leg of the downtrend. However, a breakout and close above the 20-day EMA ($0.33) could suggest a bear trap and signal a possible trend reversal.

Now lets turn our attention to Signuptoken.com, a brand built on the Ethereum blockchain using ERC-20 architecture. Designed to enhance accessibility and prioritise security, Signuptoken.com stands out among other cryptocurrencies. Its innovative strategy benefits investors by offering exclusive notifications about SIGN availability on exchanges to those who register their email addresses. Simplicity is another key attribute, with traditional pre-sales and a referral program that rewards users based on successful referrals.

Dont miss out on the current presale, where you can get tokens for as little as $0.0004! When the token is officially released, its value will be $0.72. This is an exceptional opportunity to get tokens at a discount and potentially join the elite millionaires club. Harness the tokens revolutionary presale approach and referral scheme, as they are only the start of a series of extraordinary initiatives that will rocket the tokens price to new heights in the coming months.

In the world of cryptocurrency, staying informed is crucial for making informed investment decisions. While Ethereum and Ripple remain prominent players, Signuptoken.com emerges as an exciting alternative. Project Signuptoken.com emphasises community engagement and security, making it an attractive choice for low-risk investments. Register your email on the website and seize the opportunity to earn tokens through referrals without spending a dime. Take the first step toward potential financial success by joining Signuptoken.coma community-driven token with excellent prospects for price appreciation.

Join Signuptoken.com now and be part of a great community token with a high chance of price appreciation. Registering your email on the website costs nothing and holds immense potential for your financial journey. Dont miss out on this exciting opportunity!

For more on Signuptoken.com, check out the link below:

Website: https://www.signuptoken.com

Twitter: https://twitter.com/_SignUpToken_

Telegram: https://t.me/SignUpToken

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WARNING: The investment in crypto assets is not regulated, it may not be suitable for retail investors and the total amount invested could be lost

AVISO IMPORTANTE: La inversin en criptoactivos no est regulada, puede no ser adecuada para inversores minoristas y perderse la totalidad del importe invertido

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Cryptocurrency Price Prediction: ETH, XRP, & SIGN Price Analysis - Euro Weekly News