Blockchain voting system: how to vote through the distributed ledger
Recently, a South Korean government used a technology developed by the startup called Blocko to set a blockchain voting system.
The province of Gyeonggi-do decided to use the so-called Blocko’s Coinstack platform to set a blockchain voting system to make decisions on community projects as part of the Ddabok program.
Through this program, citizens can propose their own ideas for aid; then the provincial government can decide to award budgets to fund the best and winning projects.
A few months ago, the same process was conducted by officials in Gyeonggi-do, but holding a vote using traditional methods was too expensive.
But now, thanks to the new partnership with Blocko, Gyeonggi-do organized a blockchain voting earlier this month. This vote was part of a bigger program to look for new alternative methods for approving projects.
Citizens submitted 9,000 votes, in both online and offline voting, selectioning more than 500 community aid projects.
Blocko CEO Won Beom Kim commented:
“We used blockchain and Lua based smart-contracts on our blockchain platform (and) Coinstack to create a dynamic voting process to solve this problem. In this process, offline voters, online voters, and professional representatives all contributed to a fair and deterministic result which resulted in the selection of 527 community projects.”
In a press release, the provincial government celebrated the use of the distributed ledger for the community vote and indicated that blockchain could be used more in the next future.
“We can complement the limits of representative democracy with some direct democracy systems by using blockchains, the technology of the Fourth Industrial Revolution,” said governor Nam Kyung-pil.
This is not the first time South Korea uses the Blocko-provided technology.
Also, back in November 2016, the Korea Exchange (KRX), a South Korean security exchange operator, hired Blocko to develop a smart contract with the main purpose of authenticating and verifying documents.
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Dash Price: why is it growing so fast?
Dash price rose up more than 100% in the past week, hitting a high of $60 today.
Growing by 40% yesterday alone, Dash price is dominating the social media discussions among traders and investors.
For the newbies, dash – originally known as darkcoin – earned its group of supporters and critics in this years, becoming a digital currency very useful to be used for the online shopping.
Why Dash price is growing?
Several experts argued that – behind this price growth – there is a mixture of technical updates and an user experience upgrade. So, the recent increase is the result of years of development.
Others explained that the Dash price increase is the result of the so-called “pump-and-dump” behavior commonly seen in lower-volumes markets.
What is dash?
Dash is a “two-tier network” that relies on miners and masternodes.
Dash uses a chained hashing algorithm approach called X11. Instead of using the Secure Hash Algorithm (SHA) 256 or Scrypt it uses a sequence of eleven scientific hashing algorithms for the proof-of-work, or the same consesus method used by Bitcoin.
Miners receive 45% of rewards, masternodes receive 45%, and the other 10% is allocated to its decentralized budgeting system.
In fact, it is important to say that dash allows its users to vote where to allocate resources for development, marketing, etc.
The relative scarcity of Dash coins
Of course, one reasons that is having a great impact on the Dash price is its relative scarcity, as coins are available for trade on major exchanges relative to the total supply of dash.
This scarcity is supported by the use of masternodes, as they require 1,000 DASH that generate income by receiving part of the mining block reward.
Public data suggests that there are 4,000 masternodes today, so more than half of the total Dash coins are pent-up.
Will this growth last in the long-term?
Data shows a big fall during the today’s trading, while the price is trading at about $43.
Many experts seem argue that the Dash price is in the middle of a significant bubble.
If the price will rise, fall or maintain this status is impossible to say.
How to Store Dash
That said, maybe you’re asking yourself how to store Dash in a safe place, as you might want to start trading with Dash.
Well, we at HolyTransaction provide a multicurrency wallet where you can store not only Dash but also other 20 digital currencies within the same login details.
With a 0.01* dash fee per transaction, HolyTransaction is one of the oldest web wallets in the market.
Edited: we decided to reduce fee from 0,04 to 0,01 Dash per transaction.
Open your free digital wallet here to store your cryptocurrencies in a safe place.
Blockchain investments: all the fintech services in one infographic
From American Express to Goldman Sachs and Deloitte, a lots of financial firms decided to make blockchain investments.
To provide you a insightful and easy to read, we want to share with you the following infographic originally published by CB Insight.
Consortia are not included in this infographic.
Even if the quarterly deal activity reached its lowest point since Q2’14 in Q4’16, the quarter’s top two financing deals featured investments by the most important financial companies.
This way, Axoni saw Wells Fargo lead its $18M Series A, which included a few important investors such as JP Morgan, Goldman Sachs, F-Prime Capital and Thomson Reuters.
During the last 3 years, blockchain investments reached their apex in the fall of 2015 and in the winter of 2016.
Recently, Deloitte, Miami International Holdings (MIAX) and Credit China placed their first blockchain investment and Deloitte took a corporate minority stake in a platform called SETL.
In total, more than 50 financial companies decided to invest in a bitcoin or blockchain-related startups since the beginning of 2014.
Also, it is important to note that a small group of blockchain startups received the greatest part of the total investment. Those – who have received nearly $625M in funding – include: Ripple, BitFury Group, Blockstream, Digital Asset Holdings, and Chain.
Let’s see what happen in 2017 and stay tuned for more relevant news!
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Matchpool: a blockchain startup to find love
Of course everybody knows that today we celebrate Valentine’s day, so I want to dedicate this article to the blockchain startup called Matchpool that aims at helping you to find love.
“When I looked at the dating industry, I saw it was expensive to reach a critical mass of users and open a niche dating site. That’s why dominant sites are one-size-fits-all, but that’s not what most of us look for.” explained Yonatan Ben Shimon to Coindesk.
He is the founder and CEO of Matchpool, a new blockchain-based startup for dating with the main goal of bringing people together thanks to a matchmaking system: successful matchmakers earn a cryptocurrency reward for their work.
The unique selling proposition of Matchpool is combining together elements from traditional matchmaking with the transparency of Ethereum smart contracts.
Those potential matchmakers start pools, groups of users linked by a common interests – similar to Facebook groups – where users can private message one another in the hope of finding the right match.
Pool owners can monetize their matchmaking work in a few ways, including setting a membership fee to join or charging an amount for each message sent.
Also, they can try to maintain group diversity by setting smart contract-based options between different user attributes: for example, a 50/50 male-female split or a balanced age range.
Rather than using the everyone-for-themselves, search-and-filter strategy of platforms such as OKCupid, you can define Matchpool as a different approach to dating.
Matchpool tokens for dating rewards
But why is Matchpool wants to create its own cryptocurrency token?
Ben Shimon explained that his company was attracted to the idea of using a blockchain-based database to store data about user interactions so they can be difficult to edit.
He thinks that cryptocurrencies can be an attractive option if the objective is rewarding users with small amounts of money (micropayments) on a regular basis, especially if compared to traditional gateway of payments.
Also, Matchpool’s token called Guppy will be used to attract users: 20% of the token supply will be used to incentivize new signups with a money prize – which for the time being will only be given to women.
“I believe that if we reward early users with real money – in a way that we couldn’t do with dollars – then we can cheaply overcome the initial barriers that come from the lack of network effect”.
With a token sale (also called “initial coin offering” or “ICO”) scheduled for March, and a launch date set in May, Matchpool won’t wait too long to see its results.
Open your free digital wallet here to store your cryptocurrencies in a safe place.
Gamecredits wallet: the ultimate guide about Gamecredits
A few days ago we at HolyTransaction decided to allow you to store a new digital currency on our platform, by creating a Gamecredits wallet.
Gamecredit is a new payment gateway for the gaming industry that aims at avoid limitations and challenges linked to the traditional payment solutions.
This digital currency is backed by its blockchain (proof of work), providing gamers and gaming companies with a variety of unique benefits such as:
- Variable coin value;
- Security;
- Large deposit limits;
- Pseudononymity;
- Possibility to transfer currency from game to game.
With a genesis block created back in 2014, Gamecredits was developed by a team of developers and game lovers that launched their innovative payment solution in the popular game called Fragoria, a 8 million player RPG (Role-Playing Game) designed by Datcroft Games.
The VP of Development at GameCredits and owner of Datcroft Games, Sergey Sholom explained:
“As a Game developer I experience many problems with traditional payment methods. These problems include chargebacks/fraud, payment processing periods, and consumer deposit limits”.
In fact, traditional payment methods often take a few days to process transactions and your deposit limits can be very low.
GameCredits allow you to process payments in minutes and give players higher purchasing power, so you can enjoy transferability and control over cash flows.
Also, according to the recent article published by Forbes you can read here, Gamecredits could be able to popularize cryptocurrencies all around the world.
In the next future, Gamecredits will also launch a new mobile store, or a blockchain based mobile game platform where you will find over 300 games from 150 different game developers. This app will be available in early second quarter 2017, as revealed in a press release.
Gamecredits Wallet
As I said, HolyTransaction is very proud to include this new digital currency among its multicurrency wallet.
From now on, in fact, you can store your Gamecredits on our platform.
Just like Bitcoin and our other digital currencies, you can now:
- Send Gamecredits to any address, even to addresses of other cryptocurrencies with instant conversion on the fly;
- Receive transactions;
- Exchange Gamecredits with any supported coins;
- Make instant transactions between HT users;
- Get real time exchange rates on the website;
- Set OTP for additional protection.
So, HolyTransaction multicurrency wallet can now support: Bitcoin, Litecoin, Dogecoin, Ethereum, Dash, Tether, Blackcoin and the recent added Gamecredits and Faircoin.
Open your Gamecredits wallet by clicking here.
Once you successfully enter, if you can’t see the newest Gamecredits wallet, you just need to click on the “wheel” button you find at the top right of the main page. You can find the “wheel” button to select the wallets you want to see in the main page.
Open your free digital wallet here to store your cryptocurrencies in a safe place.
Blockchain Properties: bitcoin tech to verify property transactions
One of the major use cases for the distributed ledger can be identified as “blockchain properties“, or the way to register and verify property transactions on the blockchain.
A few days ago, the first government to do so was Georgia that signed an agreement to use the blockchain to verify property transactions by using the well-known company BitFury services.
This is the first time that an American government uses the distributed ledger to prove and authenticate national operations using this disruptive technology.
Government on Blockchain
The private blockchain ledger that is an alter-proof ledger is also provable using the core bitcoin Blockchain that is in the public domain.
The Georgian National Agency of Public Registry and BitFury wrote a memorandum of understanding trying to find how to extend services to new land titles registration, property demolitions, mortgages, purchases and sales of land titles, rental and notary services.
There are a few other ideas focused on Blockchain land title services also in Sweden, Honduras and Cook County in Chicago which are being developed by ChromaWay, Factcom and Velox too.
Magazines also revealed that Peruvian Economist Hernando de Soto is involved with the Georgian Blockchain properties project too.
De Soto, in his book Mystery of Capital, estimates that there is “dead capital” of $20 trillion globally, consisting of buildings and lands without legal title.
Blockchain Properties on mobile
Tea Tsulukiani, Georgia’s Minister of Justice, commeted that she is very proud and happy that her country will work with the blockchain technology with the goal of having real estate quotations in a completely safe and secure system.
Also, chairman of the Georgian National Agency of Public Registry commented in a press release that he is “very pleased with the technical progress and looks forward to continuing their fruitful collaboration.”
BitFury CEO Valery Vavilov explained that the Georgian government is excited about the whole project and the methods used. Also, he continued by explaining that all the changes were executed for the citizens of Georgia, so they can track if a title is authentic when it is entered into the system.
The software is going to be completely operational during this year, he said.
“The big goal is to move the process to smartphones, so people can use it in any moments and all transactions are secured, transferrable and accountable.”
Applied on properties management, the Blockchain technology maintains agreements in a few ways: in blockchain-based entries, records are time-stamped and this system would allow members interested in a property to verify and establish the date of previous sales.
Open your free digital wallet here to store your cryptocurrencies in a safe place.
Fair Coin Wallet: everything you need to know about this cryptocurrency
HolyTransaction recently added a Fair Coin wallet system on its multicurrency wallet, so we want to make sure you know everything you need about this digital currency.
Faircoin is a digital currency that strives to have low fees for its users, by implementing the Proof-of-Cooperation system by the end of 2017, Faircoin aims of becoming the most ecological and resilient cryptocurrency, providing a safe and fast method of payment all around the world.
Faircoin History
Faircoin history started back in 2014 when an anonymous developer created it. A few weeks later he/she abandoned the project, but Enric Duran retrieved the digital currecny with the help of Thomas König.
50 million faircoins were created and during the 6th and 8th of March they were distributed through an ‘airdrop’, or a massive gift of 1000 FAIR per hour to all those who registered.
In this way, Faircoin was distributed to promote equality over financial possibilities.
Faircoin as a social tool
By using Faircoin, Enric Duran built a new project called FairCoop, a free worldwide cooperative that organizes itself through the web, outside the limits and controls of the State, as the group aims at create an alternative global economy based on ethic and solidarity, reducing financial and social differences among people.
What really makes Faircoin different from other currencies is its specific use as a tool for FairCoop: this cryptocurrency acts as a FairCoop value’s reserve and redistribution of capital in socially and environmentally coherent projects.
Faircoin aims at overcoming the limitations of social currencies that are designed for local use and not interconnected as they are still related to fiduciary money and can suffer the same ups and downs.
Faircoin is one of the most ecological cryptocurrency because it doesn’t need big computational resources to generate new currencies.
Technical features
On a security level, Faircoin uses the blockchain: every 5 minutes there is a POW block and every 10 minutes a POS block. Thus, the two systems are combined together to provide the best result in each method and to avoid the complete control of the cryptocurrency from the Proof-of-Work.
In the next upgrade Faircoin 2: with Proof of Cooperation (POC), will go further, and the energy efficiency will be big, as no more coins will be created.
The first block contains 50 million coins mined, distributed initially to all the registered people, avoiding that only people with capital or mining resources could access them.
Fair Coin Wallet
For these reasons, we at HolyTransaction decided to include a Fair Coin wallet among our services.
We think that it is a digital currency with important goals and objectives, so we wanted to let you use FairCoin on our platform.
Just like Bitcoin and the other cryptocurrencies we already have, you can now:
- Send Faircoin to any address, even to addresses of other cryptocurrencies with instant conversion;
- Receive transactions;
- Exchange Faircoin with any supported coins;
- Make instant transactions between HT users;
- Get real time exchange rates on the website;
- Set OTP for an additional protection.
To know more about the new functions of our wallet and to manage your FairCoin Wallet, click here.
FairCoin and a fair economic system from Radi.ms on Vimeo.
Open your free digital wallet here to store your cryptocurrencies in a safe place.
Shopping with Bitcoin: read the ultimate guide
Today I want to help you to start doing shopping with Bitcoin. Thanks to this method you can buy everything you want online, saving money and time.
Also, you will be able to avoid frauds that are very common on Internet, unfortunately.
First of all, you need a cryptocurrency wallet as a safe place to store your Bitcoin. You can open it now for free here.
Bitcoin Virtual Credit Card
To stard doing shopping with Bitcoin you can easily open a bitcoin virtual credit card on our new platform called HolyTransaction Trade.
Not all the e-commerce platforms you can find online accept Bitcoin, so this is an instant and cheap way to create a virtual credit card with Bitcoin and buy everything you want from your favorite online store.
You can use a virtual credit card everywhere a Visa credit card is accepted among the payment methods.
Also, to read more about all the benefits of a bitcoin virtual credit card, click here.
Shopping with Bitcoin on Purse and eGifter
As you can see on the HolyTransaction.com menu, you can directly open your Purse card from your HolyTransaction Wallet.
You just need to click on “Spend” and then on “Purse” or “eGifter”.
Purse is a fast way to do shopping with Bitcoin on Amazon, also saving from 5% to 15% on millions of products. To do so you just need to create an online gift card on Purse and start doing shopping.
eGifter is another way to do shopping with Bitcoin, buying from hundreds of gifts cards with your favorite digital currency. You can do it directly from our website, by depositing the bitcoins stored in your wallet on the eGifter website.
Open your free digital wallet here to store your cryptocurrencies in a safe place.
How to Store Bitcoin: Easy Multicurrency Wallet
If you are a newbie, maybe you are asking yourself the following question: how to store Bitcoin? Which is the safer and cheapest wallet on the web? Why should I open a multicurrency wallet?
Well, today I want to answer people who are trying to start using Bitcoin and cryptocurrencies in general.
First of all, wallet stores a private key that you need to access a bitcoin address for storing and spending your digital currencies.
Bitcoin is a distributed and revolutionary method of payment also defined as Internet of Money as it is a virtual currency without any physical attribution.
So, how to store Bitcoin? We store fiat cash in a physical wallet and Bitcoin works in a similar way, as you will need a virtual wallet.
As well as Euro or Dollar are physical and should be stored in a physical wallet, so bitcoin are virtual and shall be kept in an equally virtual wallet.
If I have to be more specific, you don’t technically store bitcoin anywhere. What you store is the secure digital key you need to have in order to access your public bitcoin addresses and execute transactions.
How to store Bitcoin in a Web wallet
HolyTransaction is a web wallet where you can store your private keys online, on a computer, and connected to the Internet, of course.
One of the main advantages of a web wallet is that you can access them from anywhere and on any device you are using.
Security and Privacy
To create your web wallet you just have to enter your email address. You don’t need to have a bank account or send your ID card, so you can set up it in just one minute.
One way to protect your wallet is encryptit it with a strong password. This will make it difficult to access to your funds.
Also, you can use a two factor authentication code. In this case you should download a free app called “Google Authenticator” on your mobile phone and scan the QR code obtained. Then everytime you need to execute a transaction you’ll have to enter the two-factor authentication code. And, of course, this will make your wallet safer.
Multicurrency Wallet
A Multicurrency wallet is a virtual wallet where you can store different kinds of digital currencies within the same place.
If you have multiple cryptocurrencies, you typically have to manage multiple wallets for each one. This could be a time consuming task. With HolyTransaction, since it supports several digital currencies, you don’t have to manage a few wallets and you can just log into one wallet and toggle between them in one user interface, making the task much easier.
So, with just one registration and only one password to remember, you can store not only Bitcoin but also the other major cryptocurrencies such as Ethereum, Zcash, Dash, TetherUS, Monero and Dai Stablecoin.
Open your free digital wallet here to store your cryptocurrencies in a safe place.
Change Bitcoin Euro: how to sell crypto in Europe
People who decide to invest in crypto often have to change Bitcoin Euro, but the main problem is always the same: where? which platform should I use in order to have low fees and instant conversion?
We at HolyTransaction have found a solution for these issues and we have launched HolyTransaction Trade, an instant exchange that allows you to change Bitcoin Euro in a few steps.
Through our new service you can instantly convert Bitcoin into Euro and vice versa, buying and selling your cryptocurrencies at any time.
We have a few options to do so: Bitcoin to Virtual Credit Card, Bank Transfer, and Halcash ATM ( the latest one option is available in Poland and Spain).
Or Bitcoin to EasyPay, TeleIngreso and PayNet if you live in Greece, Mexico or Spain.
Change Bitcoin Euro: step-by-step guide
By clicking on the links below you can read step-by-step guides to change your Bitcoin into Euro:
Also, if you don’t know exactly how a Bitcoin Virtual Credit Card works and which benefits it has, you can read the insightful article below to understand why you might need a virtual credit card to do shopping online.
Open your free digital wallet here to store your cryptocurrencies in a safe place.