Blockchain

Diko privacy cryptocurrency set for 11 March launch on Ethereum blockchain

Diko, a novel privacy-based cryptocurrency is set to go live on the Ethereum blockchain on March 11 2020. The digital currency allows people to send funds anonymously and simply via email just like PayPal. Diko is creating 20 million tokens via smart contract Diko is developing its own blockchain that will facilitate secure and confidential […]

The post Diko privacy cryptocurrency set for 11 March launch on Ethereum blockchain appeared first on coinweez.

Published

1 year ago

March 8, 2020

Republished by Plato

Diko is creating 20 million tokens via smart contract

Diko is developing its own blockchain that will facilitate secure and confidential transactions. They will also create a native cryptocurrency named DIKO coin for use in all transactions on the platform.

While their blockchain is under development, the team behind the anonymous cryptocurrency has decided to issue DIKO tokens on the Ethereum Blockchain. The DIKO token is an ERC20 token that works in the same way as it facilitates secure anonymous transactions via email. A total supply of 20 million DIKO tokens will be created via the smart contract that goes live on 11 March.

The motivations behind Ethereum-based DIKO Token

The decision to initially launch on Ethereum before migrating to an own blockchain is motivated by the desire to make the transformative technology publicly available soonest possible. Development of an entire blockchain is time consuming and expensive. The process itself may be quite challenging due to technicalities and complexity of blockchain development. These issues can result in lengthy delays and cost overruns that may impede the timely completion and launch of this much-needed technological innovation. In the quest for protecting people’s privacy, time is of the essence.

The Diko team understands there is need to move with speed in the provision of solutions that promote confidentiality and guarantee protection of people’s privacy in financial matters. That is why the team has decided to provide their solution initially on the Ethereum blockchain as they build their own blockchain.

This decision serves the following purposes.

People do not have to wait any longer to be able to send money anonymously via email. They can use the Ethereum based Diko token which is publicly available with the same capabilities as the Diko blockchain.
The development team gets enough time to build the blockchain and underlying payment system infrastructure. This will enable the creation of a solid and viable platform due to the reduced pressure of racing against time.
The Ethereum-based platform will serve as a reliable reference point for gathering insights, feedback, and ideas while in the building process. The development team can study the usage data, conduct risk assessment, explore vulnerabilities and observe user preferences among others. These exercises can provide highly valuable information for improving the service and user experiences.

Ethereum-based solution is a placeholder

The Diko team is implementing their infrastructure on the Ethereum blockchain due to the ease of building application on the network through smart contracts. The smart contract has similar technological features as the Diko blockchain centered on the Zero Knowledge Proof (ZKP) system. This will ensure retention of all the capabilities and maintaining Diko’s strong dedication to achieving confidentiality for financial transactions. They remain committed to delivering a platform that not only supports anonymous transactions but also one that keeps user data safe and secure.

Diko’s long-term goal is to run the anonymous transactions platform its own blockchain. Therefore, all users and transaction details will be transferred to the Diko blockchain once its development is completed.

DIKO ICO

The project is planning to conduct an Initial Coin Offering (ICO) to raise funds for development, marketing, and support activities for the platform. The ICO will run through from April 1^st to November 1^st 2020 with the aim of selling 10,500,000 DIKO tokens. The price for each token is $2.62. The funds obtained from the ICO will facilitate the development, marketing, and operations of the Diko blockchain.

Grab this opportunity and be among the first to get on board this game changing initiative.

For more details and updates about the Diko project visit https://www.dikocoin.com/

Source: https://coinweez.com/diko-privacy-cryptocurrency-set-for-11-march-launch-on-ethereum-blockchain/?utm_source=rss&utm_medium=rss&utm_campaign=diko-privacy-cryptocurrency-set-for-11-march-launch-on-ethereum-blockchain

Blockchain

It’s Official: PayPal to Acquire Crypto Custodian Curv

Published

36 mins ago

March 8, 2021

Republished by Plato

The leading payment processor, PayPal, announced today that it has agreed to purchase the digital asset custody company, Curv. It said that it will complete the acquisition in the first quarter of the year.

Rumors Confirmed True As PayPal Acquire Curv

Reports surfaced last week that PayPal was planning to acquire cryptocurrency security firm, Curv. There were no concrete evidence to buttress the claims, but the leading payment giants have now made it official via a press release today.

The company’s decision to purchase Curv reaffirms its mandate to remain closely knitted to the digital asset space and become a major player in the rapidly changing financial world. According to the statement released on its website, PayPal said the rationale behind its latest acquisition is “to accelerate and expand its initiatives to support cryptocurrencies and digital assets.”

PayPal’s blockchain, crypto, and digital currencies vice president and general manager, Jose Fernandez da Ponte had a few words to say about the latest addition.

“The acquisition of Curv is part of our effort to invest in the talent and technology to realize our vision for a more inclusive financial system. During our conversations with Curv’s team, we’ve been impressed by their technical talent, entrepreneurial spirit, and the thinking behind the technology they’ve built in the last few years. We’re excited to welcome the Curv team to PayPal.”

Financial details of the transaction were not disclosed, but according to previous reports, PayPal may pay in the region of $500 million to acquire Curv. It said that the deal will be completed in the first quarter of the year.

What Will Curv Bring To The Table?

Curv is a digital asset security company founded in 2018. It developed an encryption technology based on multi-party computation (MPC). This enables secure transfer and eliminates any point of failure by distributing generated private keys between cloud and client.

With major institutions now weighing in, there’s a lot more on the line, and it has become even more paramount to ensure top-notch security.

Curv CEO Itay Malinger spoke briefly about the fresh development.

“As a pioneer in security infrastructure for digital assets, Curv is proud to be recognized as an innovator and trusted partner to leading financial institutions around the world. Now, as the adoption of digital assets accelerates, we feel there’s no better home than PayPal to continue our journey of innovation. We’re excited to join PayPal in expanding the role these assets play in the global economy.”

PayPal’s Surging Interest In Cryptocurrencies

PayPal’s foray into the industry kicked off in October 2020 when it announced that customers would be able to buy and hold cryptocurrencies on its platform. It was unarguably one of the biggest news in the crypto world last year.

With over 360 million users and 26 million vendors newly exposed to the market, many predicted a bullish momentum, and they were not disappointed. Crypto market capitalization surged by $25 billion while bitcoin hit a new all-time high following the announcement.

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Source: https://cryptopotato.com/its-official-paypal-to-acquire-crypto-custodian-curv/

Blockchain

Chainlink, VeChain, Decred Price Analysis: 08 March

Published

1 hour ago

March 8, 2021

Republished by Plato

Chainlink flipped the $28.34 level from resistance to support over the past few days and defended it from bearish pressure once more. VeChain was strongly bullish on the charts as bulls eyed a target of $0.077, and Decred was trading at $149.

Chainlink [LINK]

Chainlink, VeChain, Decred Price Analysis: 08 March

Source: LINK/USD on TradingView

On the hourly chart, LINK made steady progress past levels of former resistance, now turned support. The past couple of days saw the $28.34 level flipped to support, ceded to selling pressure before being converted into a support level once more.

This showed that in the short-term, there was some demand for LINK, which should aid its move toward and past $30 over the next few days.

The RSI moved above the neutral 50 value while the Stochastic RSI had corrected from overbought territory, showing further gain are possible in the coming hours.

VeChain [VET]

Source: VET/USDT on TradingView

The $0.06 was a high reached in mid-February, and a brief rectangle-top pattern was formed before VET plunged to $0.038. However, the bulls have picked up the pieces since, and driven the prices past the local highs at $0.06.

This recovery was driven by strong demand, as the OBV shows a series of higher lows that have formed recently. This is indicative of buying volume being greater than selling volume, that is, greater demand than supply recently.

The Fibonacci extension levels past $0.06 give a bullish target of $0.077 (27% extension) for VET bulls to achieve over the next few days.

Decred [DCR]

Source: DCR/USDT on TradingView

The ascending channel (cyan) was one that DCR has been trading within since late January. DCR broke down beneath the channel, but not far. The $125 mark caught its fall and served as support on multiple retests.

Since then, a short-term range appears to have formed, from $125 to $149.

On the 4-hour chart, the Aroon indicator showed some choppiness for DCR- a trend hasn’t yet been established. Above the $149 mark, which also represents the 62% Fibonacci extension level for a past move, there lies a region of supply at $165-$170.

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Source: https://ambcrypto.com/chainlink-vechain-decred-price-analysis-08-march

Blockchain

This strategist’s data suggests an accelerating pace of Bitcoin replacing Gold

Published

1 hour ago

March 8, 2021

Republished by Plato

Commodity Strategist Mike McGlone shared on Twitter recently that his data points to an accelerating pace of Bitcoin replacing Gold “as a store of value in investor portfolios.” While the precious metal will always have a place in “jewelry and coin collections,” Bitcoin on the other hand seems to be “pushing aside the old guard” and will replace the metal as an inflationary hedge.

According to McGlone’s data, investors have frequently chosen Bitcoin over gold in terms of its store of value from 2017 onward – as shown in the image below:

Source: Twitter

In addition to the asset’s growth over Gold, McGlone has been bullish about Bitcoin’s price as well.

McGlone who earlier predicted, quite accurately, that Bitcoin would surge to the $50,000 mark, recently made a new prediction. He stated that the price of Bitcoin will continue to appreciate to eventually hit the $100,000 milestone by 2025, a target expected by many other Bitcoin bulls. He based his forecast on the asset’s growing popularity, which is seeing increasing adoption, even among mainstream investors. The expert once said that financial markets may even want to replace US Dollar reserves with Digital Dollars and Bitcoin.

Some maximalists such as MicroStrategy CEO Michael Saylor even cautioned investors to sell their gold, and buy Bitcoin instead. According to him, “gold is dead money” and that “other people are going to sell their gold”.

Gold advocate Peter Schiff who always counters such arguments remains certain that Bitcoin is a scam and argued that it couldn’t replace gold only because it appreciates at price. Schiff’s criticism of Bitcoin has often irked traders.

One trader dedicated a comparison of his investment in Bitcoin and Gold to Schiff. He claimed that $1 invested in Bitcoin vs Gold over 11.4 years amounted to: