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KIOS Smart Contract Passes Audit

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KIOS Smart Contract Passes Audit

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The team at KnownSec blockchain security tested the KIOS smart contract. They then published their report and from their report, the KIOS smart contract passed with excellence. Audits in the smart contract space are growing in importance. However, not all projects are audited that is why the audit matters. Here are some other reasons why a smart contract audit matters.

It Helps to Identify Any Potential Problems

For those looking for a project in which to participate, an audit is always important. It shows that those behind the project are serious about protecting participants in the project. The smart contract audit of the KIOS project shows that the team behind it is serious about protecting the interests of its participants.

In recent months, various smart contracts have been breached and tokens stolen from hundreds of thousands of participants. It is thus always wise to deal with any security issues before they occur.

It shows that the Project is Serious about Launching

A project that was built as a scam would not bother investing in a security research team to check their smart contract.

Instead, they would focus most of their attention on trying to get as many people on board as possible with the least amount of resources spent. For a project to spend precious resources on an audit, it shows that they are serious about the final launch.

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It Gives Participants a Chance to Study the Audit

While a security audit is usually thorough, there is always the risk of an issue being left out. By publishing an audit report, KIOS is allowing potential participants to check the audit themselves. If they do find any issue, the KIOS team is open to suggestions.

They will carefully analyze the issue with their team of experts and correct any loopholes that might exist. An audit shows that a project is open and willing to be corrected by its participants.

It Ensures Everything Works as Described

In some cases, there might not be any security issue with the smart contract. However, a project may claim to have certain capabilities that it cannot deliver. Via an audit, it helps to confirm that all touted capabilities can be achieved.

The audit of a smart contract usually entails vigorous testing before the smart contract goes live. These tests check every aspect described in the project to ensure it works. If an issue is found, it can be quickly rectified to avoid frustrating participants with promised functionality that does not exist.

It Helps to Clear Out Bugs

 While some bugs may not pose any security threat, they can make a smart contract slower than intended. Besides that, they can make it harder to integrate it into some platforms. A smart contract audit helps to ensure there are no bugs that could impede the functionality of a project.

Summary

KIOS commissioned a full audit of their smart contract and then published the report. From the report, participants will find that it passed the audit successfully. There were no issues found and participants can be assured of the safety of their tokens.

KIO Total Supply is 600 Million; KIS Total Supply is 3 Billion. We will be listed on JustSwap later on as well as other exchanges. Join our community now and stay tuned!


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DISCLAIMER Read More

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Source: https://zycrypto.com/kios-smart-contract-passes-audit/

Blockchain

Tim Draper Handpicks Netflix as the Next Company to Purchase Bitcoin

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Popular venture capitalist and Bitcoin bull Timothy “Tim” Draper predicted that major online streaming platform Netflix could be the next company to join the bitcoin buying bandwagon.

Next Bitcoin Investor Could Be Netflix

Speaking in a recent episode of the Unstoppable Podcast, Tim Draper stated that Netflix could be the next in line to add bitcoin to its balance sheet. According to him, the company’s co-founder and co-CEO, Reed Hastings, makes Netflix a likely bitcoin investor. Draper buttressed his point, saying:

“I think Reed Hastings is a very innovative guy and has a lot of creative thinking and I think he still controls the reins at Netflix. And so I think that might be the next big one to fall.”

Meanwhile, the venture capitalist mentioned social media giant Facebook, as well as other major companies like Apple, and Google, as likely candidates to invest in bitcoin. However, Draper noted that the companies were instead trying to create a centralized currency of their own.

Draper also stated that if he was the chief financial officer (CFO) of any major organization, he would advise the company to allocate a portion of their portfolio to bitcoin. According to the BTC proponent, bitcoin served as a hedge against inflation.

Since Tesla’s billion-dollar bitcoin investment, there have been speculations about which company would emulate Tesla’s move. Increased institutional interest in bitcoin is largely responsible for BTC’s bullish momentum. Meanwhile, Firms like Microstrategy and Square recently added to their bitcoin holdings.

Amazon Likely to Accept Bitcoin as a Payment Method?

Apart from pitching Netflix as the next possible bitcoin investor, the venture capitalist stated that the retail giant Amazon could start accepting bitcoin. Adding that, people could use the flagship cryptocurrency to purchase products on Amazon.

Back in February, there were reports that Amazon was looking to introduce a new project that would enable customers to convert cash into digital currency. While the project would launch in Mexico, the company did not state what digital assets it would support, although there were speculations that the company may not use popular crypto-assets like BTC or ether.

While also speaking on bitcoin’s price target, Draper said:

“The current currency holdings around the world in dollars is about $100 trillion and bitcoin’s market cap is just reaching a trillion now. So there’s no reason it can’t go up a 100 fold. It’s not like it is going to completely replace the dollar. Although I think people are going to laugh when they are trying to buy things with dollars in the future.”

The venture capitalist made a prediction earlier in 2020 that the price of bitcoin would reach $250,000 by the end of 2022 or early in 2023.

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Source: https://cryptopotato.com/tim-draper-handpicks-netflix-as-the-next-company-to-purchase-bitcoin/

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Ripple is committed to San Francisco, says co-founder Chris Larsen

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In October last year, Ripple co-founder Chris Larsen said that the firm may consider relocating to other countries citing the lack of regulatory clarity in the United States. Since then, many have speculated where the firm’s new headquarters will be located. However, amid a lawsuit with SEC regarding an alleged illegal securities offering, and XRP’s dwindling price, Larsen made a new announcement recently that stated that the firm was here to stay. 

Speaking to The San Francisco Chronicle, co-founder said that Ripple’s global headquarter will remain in San Francisco. He added: 

We’re committed to the city. It’s got the most diversity, creativity…it’s got the critical mass.

Earlier, CEO of Ripple, Brad Garlinghouse, hinted at a possibility that Ripple could move out of the US, given its “lack” of a regulatory framework. He stressed that the country was “out of sync” and needed to implement a clear regulatory framework regarding crypto.

At the time, the CEO said that he was considering whether Ripple would benefit from relocating to a country where regulations were more clear. He admitted to being impressed by how the UK and other G20 nations including Singapore, Japan, and the UAE had “clear regulatory frameworks” that allowed for “healthy markets to develop.”

Meanwhile, another leading crypto firm in the neighborhood has decided to do away with its headquarters altogether. Coinbase CEO Brian Armstrong said that amid the firm’s work from home policies they choose not to have a base in San Francisco, but will continue to keep their offices open. Stating that the company is “decentralized” the CEO added:

As we’ve moved to a remote first environment, we realized that we no longer have a headquarters located in any one city.


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Source: https://ambcrypto.com/ripple-is-committed-to-san-francisco-says-co-founder-chris-larsen

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3 key Ethereum price metrics show pro traders are aiming for $2K ETH

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On Feb. 20, Ether (ETH) price rallied to a new high at $2,015 and this caused multiple indicators to display signs of excessive optimism. While the excitement could be easily justified by Ether’s  year-to-date 176% gain, these warning signs should not be ignored.

On of the primary driving factors of the current bullish sentiment is the launch of CME ETH futures and Grayscale Investments ETH Trust reaching $6.3 billion assets under management. The DeFi phenomenon also continues as there is currently more than $21 billion worth of Ether locked in DeFi.

Crypto Fear & Greed Index. Source: alternative.me

Currently, the Crypto Fear & Greed Index is at 93, indicating “Extreme Greed” according to its methodology. Many traders use the metric as a counter trading signal, meaning, the extreme fear level can be a sign that investors are bullish and a buying opportunity is present. In contrast, when investors are getting too greedy, it could be a sign that the market is due for a correction.

Unlike the excessively leveraged retail traders, the more experienced market makers and whales hs been skeptical of the never-ending rally in Ether. Regardless of the rationale for the price peak, the 36% price correction that followed was accelerated by large liquidations.

Ether futures contracts aggregate liquidations. Source: Bybt.com

The liquidation of $2 billion in long futures contracts from Feb. 19 to Feb. 23 represented 28% of the total open interest. Thus, one should expect significant deterioration in market sentiment, as depicted on the previous Fear & Greed indicator.

Surprisingly, none of that happened on the Ether derivatives markets, as both futures contracts premium (contango) and the options skew remained bullish.

The futures premium held very healthy levels

By measuring the expense gap between futures and the regular spot market, a trader can gauge the level of bullishness in the market.

The 3-month futures should usually trade with a 10% or higher premium versus regular spot exchanges. Whenever this indicator fades or turns negative, this is an alarming red flag. This situation is known as backwardation and indicates that the market is turning bearish.

OKEx 3-month ETH futures basis. Source: Skew.com

The above chart shows that the indicator peaked at 39% on Feb. 20 as Ether touched its all-time high. Nevertheless, it has kept above 16% during the entire correction down to $1,300. This data shows that professional traders remained confident in Ether’s price potential.

The options skew remained neutral-to-bullish

When analyzing options, the 25% delta skew is the single-most relevant gauge. This indicator compares similar call (buy) and put (sell) options side-by-side.

It will turn negative when the put options premium is higher than similar-risk call options. A negative skew translates to a higher cost of downside protection and indicating bullishness.

The opposite holds when market makers are bearish, causing the 25% delta skew indicator to gain positive ground.

ETH options 25% delta skew. Source: laevitas.ch

Over the past month, there hasn’t been a single incident of a sustainable positive delta skew. Therefore, there is no evidence that option traders demanded more significant premiums for downside protection.

This data is very encouraging, considering that Ethereum faced a heavy sell-off but the futures and options metrics discussed above held bullish levels during the downturn.

As Ether managed to recover quickly from its recent $1,300 dip, investors gained further confidence that the uptrend had not been broken.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Source: https://cointelegraph.com/news/3-key-ethereum-price-metrics-show-pro-traders-are-aiming-for-2k-eth

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