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XSL LABS Is On The Forefront of User Data Protection with its SYL Debuting on ProBit Exchange

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XSL LABS Is On The Forefront of User Data Protection with its SYL Debuting on ProBit Exchange

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XSL Labs will elevate user data protection through the implementation of their ecosystem known as Pulsar. Services offered within this ecosystem will be accessible via their native ERC-20 token, SYL, with a BTC market now open for trading.

Touted as the bedrock of the proposed “internet of trust,” Pulsar will be governed by European law and meet KYC and AML requirements. All users within the Pulsar ecosystem will be able to create a distributed profile via a secure digital identity (SDI) that will include all personal information required to carry out transactions globally. 

XSL Labs encourages network participation through an innovative governance protocol whereby any actor that deploys a dApp within Pulsar will be required to maintain a node. Node maintenance graduates developers to “delegates,” and are entitled to SYL token rewards determined by ecosystem significance. 

The driving utility asset, SYL, within the Pulsar distributed ledger, was created to hold value. SYL allows users to transfer value, purchase services, execute smart contracts, bolster network security, and reward validators. Capped at 10,000,000,000 tokens, the SYL ecosystem will take on the form of a digital service platform solely powered by the SYL utility asset.

XSL Labs, developer of the SYL Token and Pulsar ecosystem, is an incubator and grant provider for promising projects on the Pulsar. Following the official release of ONE, its first distributed app housed on Pulsar, the team plans to begin grant and funding distribution later this year, in an effort to further populate the ecosystem. 

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XSL Labs believes their SDI technology can disrupt numerous niches where data reliability is paramount with a broader objective of forging an innovation hub within the European Union, facilitating disruptive change and tackling digital age security concerns head-on.

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ABOUT XSL LABS

XSL Labs will offer a number of solutions for protecting identity data on the Internet and is developing a blockchain-based Decentralized Identifier (DID) referred to as Secure Digital Identity (SDI) to combat data theft. XSL Labs hopes to lay the foundations for self-sovereign identity and the Internet of Trust with the dApp “ONE” which will give the users the control of their SDI.

https://www.xsl-labs.org/

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Source: https://zycrypto.com/xsl-labs-is-on-the-forefront-of-user-data-protection-with-its-syl-debuting-on-probit-exchange/

Blockchain

Chinese officials warn about risks associated with crypto trading.

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Chinese officials warned the public about the risks associated with trading cryptocurrencies. The authorities pointed out three major considerations which might harm investors – false transactions, security breaches, and illegal and criminal activities involving cryptocurrencies. According to the China Financial Stability Report, investors should be extra vigilant when operating with bitcoin and other cryptocurrencies. Officials from China Securities Journal have called for better regulation and pointed out major risks involving crypto trading.

“Cryptocurrencies lack supervision and legal protection.”

Cryptocurrencies are highly decentralized, which means they lack supervision and legal protection. According to the journal, this is a huge disadvantage and can cause price manipulation and false transactions. Another concern that Chinese officials expressed is that the price of most cryptocurrencies, including bitcoin, can easily become an instrument for speculation and can go through sharp declines.’ The report also noted that the movement of funds on blockchain technology is difficult to be observed. This can create an excellent environment for money laundering. Additionally, illegal and criminal activities can also thrive with these conditions as lawbreakers have the opportunity to make drugs or gun transactions using cryptocurrencies. 

“There are no legal crypto trading venues in the country and no regulatory protections.”

The Chinese authorities advised that the crypto community must stay alert to prevent these hazards due to these factors. Furthermore, China Securities Journal reminded that there are no legal crypto trading venues in the country and no regulatory protections.” Once you encounter risks, you can only bear the consequences. In short, speculation in coins is risky, and you need to be cautious when entering the market,” the report noted. However, despite the Chinese government’s stance, the leading cryptocurrency bitcoin is highly popular in China – there’s a high number of miners situated in the large Asian nation.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://chaintimes.com/chinese-officials-warn-about-risks-associated-with-crypto-trading/

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Blockchain

China Securities Journal Says Cryptocurrency Trading Is Risky and Calls for Strict Supervision

Republished by Plato

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Chinese officials warned the public about the risks associated with trading with digital assets. The authorities pointed out three major considerations which might harm investors – false transactions, security breaches, and illegal and criminal activities involving cryptocurrencies.

Tighter Regulations on Crypto Trading

According to the China Financial Stability Report, investors should be extra vigilant when operating with bitcoin and other crypto assets. Officials from China Securities Journal have called for better regulation and pointed out three major risks that trading with digital assets may carry.

First, digital assets are highly decentralized, which means they lack supervision and legal protection. According to the journal, this is a huge disadvantage and can cause price manipulation and false transactions.

Second, the price of most cryptocurrencies, including bitcoin, can easily become an instrument for speculation and can go through sharp declines.’

Third, the movement of funds on blockchain technology is difficult to be observed. This can create an excellent environment for money laundering. Additionally, illegal and criminal activities can also thrive with these conditions as lawbreakers have the opportunity to make drugs or gun transactions using cryptocurrencies.


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The Chinese authorities advised that due to these factors, the crypto community must stay alert to prevent these hazards. Furthermore, China Securities Journal reminded that there are no legal crypto trading venues in the country and no regulatory protections:

”Once you encounter risks, you can only bear the consequences. In short, speculation in coins is risky, and you need to be cautious when entering the market.”

China and BTC

Despite the government’s stance, the primary cryptocurrency is highly popular in China – there’s a high number of miners situated in the large Asian nation.

Recently, the country’s central bank announced that it was looking into bitcoin as an alternative investment. Zhou Xiaochuan, former governor of PBoC, outlined the potential of digital assets and their future implementation. However, he ascertained that whatever the case may be, cryptocurrencies must not be used for illicit activities such as drug or weapon trafficking, gambling, or money laundering:

”We believe that crypto assets should play a major role in the future, either as an investment tool or as an alternative investment. Many countries, including China, are also studying it as an investment tool.”

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/china-securities-journal-says-cryptocurrency-trading-is-risky-and-calls-for-strict-supervision/

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Blockchain

Vitalik Buterin Burns 41% Supply of “Dog Token” Shiba Inu

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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptobriefing.com/vitalik-buterin-burns-41-supply-dog-token-shiba-inu/

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