The main gaming company, Atari, famous for being the video game developer like Tetris and Pac Man, has signed a license agreement with the blockchain startup Animoca Brands, a mobile game developer based in Hong Kong, to create versions of blockchain of two popular mobile games. The news has arrived through a press release published on December 18.
According to the press release, the agreement gives Animoca Brands global rights (outside of Greater China) to produce and publish blockchain versions of the famous Atari Roller Coaster Tycoon Touch and Goon Squad mobile games in most territories throughout the world. world, except Hong Kong, China, Taiwan and Macao.
Atari shareholder of Animoca
The new partners will explore continuous opportunities in games, product development, blockchain and other areas. As part of the agreement, Atari has become a shareholder of Animoca.
The co-founder and president of Animoca Brands Corporation Ltd, Yat Siu, says: “The fact that we can put these associations together is a demonstration of the fact that we are leaders in this space and we are very credible … We are very honored that this company is well established – in many ways significantly larger than us – they have also become shareholders of our business, are involved in us, are working to grow, so they believe in our long-term vision for games, blockchain and AI. “
The press release states that RollerCoaster Tycoon Touch has more than “19 million downloads” worldwide and has reportedly seen an increase due to new features that include an expansion of the “Waterpark” as well as an association with “Foodgod” Jonathan Cheban.
Under the terms of the agreement extending until March 31, 2022, Animoca Brands will pay Atari a minimum guarantee on future income of $ 250,000, payable in shares of the Company’s shares. This serves as consideration for the license to develop and publish such games. A share in the proceeds will also be payable to Atari after the gross revenue generated by the Games exceeds a total of $ 500,000. Frédéric Chesnais, the main shareholder and CEO of Atari Group, also expressed his enthusiasm for the agreement: “We are proud and delighted to establish this strategic and long-term relationship with Animoca Brands, which also allows us to become shareholders of one of the innovators most exciting in the world of decentralized gaming. We hope that this agreement paves the way for greater cooperation in other Atari products. “
This agreement represents a significant leap for the development of blockchain games, above all, because the games in question are some of the most iconic that exist. RollerCoaster Tycoon Touch specifically revolves around the construction and management of an amusement park, with the aim of attracting more visitors to ensure the continued success of the park. Goon Squad leaves players in an underground world ruled by mobsters, gambling and fast-paced card battles. The player hopes to climb from a humble Goon to the respected Godfather in the game through card battles and manoeuvring through the criminal underworld to reach the top.
Animoca Brands expects to publish both games for the second half of 2019.
Ethereum emerged in 2015 and revolutionized what blockchain could bring to companies and traditional business. Blockchain ceased to be that technology limited to financial transactions and the then quite limited potential of Bitcoin to become the main currency worldwide. The smart contracts arose giving rise to a great name of uses to the blockchain technology.
However, the design of them means that they can hardly manage data in the blockchain. There is a lot of potential behind the technology that is yet to be discovered. Many decentralized applications (dApps) have already been created , however, the smart contract programs built at Ethereum lack a bridge for real-world industries. In addition, the misuse of technology means that it is not well seen by everyone.
Before focusing on ChainLink, let’s understand what smart contracts are and why they are so important.
What are smart contracts?
“A smart contract is a scheduled contract, whose agreements are established in a computer code in the blockchain. The contract is executed automatically without the need for an intermediary. These contracts can always be seen, but still can not be adjusted. “
That is, a smart contract is far from being a contract in a paper signed by the different parties. It is completely digital, a computer code programmed in blockchain by a programmer and which contains all the information of the same: the people among which it is valid, when it will be executed, when the agreements have been registered, etc. The contract is automatic and can not be modified yet.
Smart contracts are executed once a certain set of circumstances exists and, once a smart contract is executed, the fact that it exists in a decentralized network means that no party can alter its code or interfere with its execution. By avoiding alteration, smart contracts oblige all parties to a fixed agreement, thus creating a type of relationship that does not trust the confidence of any of the parties.
Smart contracts face several disadvantages
However, according to the Chainlink developers, there are several drawbacks in the current structure of smart contracts in the blockchain. For example, because these are based on insured information in a chain of blocks, and because of the way in which miners reach consensus around transaction data based on block chains, smart contracts cannot interact with external resources, such as data sources, APIs or traditional banking systems.
And, as a solution to the aforementioned problems, a decentralized Oracle service called ChainLink appears. With ChainLink the users of the smart contracts can use the oracles to retrieve data from the interfaces of applications programs outside the chain (API), data groups and other resources and integrate them into the chain of blocks. In other words, ChainLink takes external information from applications to the blockchain and incorporates them into it.
Oracles such as ChainLink will be necessary to access the data that many existing protocols need to operate. Well, as its name indicates, ChainLink serves as a link between blockchain and the existing infrastructure.
What are oracles?
The oracles function as a bridge between the real world and the Blockchain by providing data to smart contracts. It becomes an “agent” that finds and verifies the occurrences of the real world and sends this information to a chain of blocks to be used to activate the execution of smart contracts when predefined conditions are reached (such as, for example, a payment received or a price fluctuation).
The fact that these oracles are services of centralized third parties and not being part of the blockchain consensus mechanism makes one doubt whether the data they provide is reliable. For example, if a smart contract depends on the price of a stock and it arrives manipulated, the smart contract could execute the incorrect function based on this erroneous data.
The ChainLink network
The ChainLink network is a decentralized network of ChainLink nodes , which are selling the use of specific data sources, APIs and various off-the-chain payment capabilities directly to a smart contract. The Chainlink Network consists of two separate parts, within the chain and outside the chain, that interact to deliver the service.
As mentioned, its main objective is to unite the block chains with the outside world. For this, it has two main architectural components: chain infrastructure and off-line infrastructure .
This component is made up of chain contracts deployed in the Ethereum blockchain. These Oracle contracts are responsible for processing the data requests of users who seek to take advantage of Oracle services in the network. If any user or entity wants to access data outside the chain, you can send a user contract or application contract to the ChainLink network . The blockchain will process these requests in its own contracts.
These contracts have a great function since they are in charge of making the contract that is requested coincide with the appropriate oracles. The contracts include a reputation contract, an order equalization contract and an aggregation agreement.
The reputation contract, as its name indicates, checks the history of an Oracle provider to verify its integrity. The order matching agreement records the service level agreement of the user’s contract in the network and collects the offers from the responsible Oracle suppliers. And finally, the aggregation contract accumulates the collective data of the chosen oracles and balances them to find the most accurate result. To carry them out, the ChainLink network performs a three-stage process.
Selection of Oracle. By submitting an application contract, the user specifies a set of parameters and requirements for their data search known as a service level agreement (SLA). These can be, Oracle’s reputation, data specifications, amount of data resources / oracles needed, etc. Subsequently, users can manually search for oracles using ChainLink. However, when the manual search is not optimal, an automated matching engine is available. For this option, oracles can make offers according to the agreement of the service level of a contract. Once the contract has received sufficient quality offers, these oracles are selected and the service agreement is initiated.
Data report. This point is quite simple. When the oracles have been chosen, outside the chain they make the service agreement and transmit the requested data to the blockchain so that the nodes process them.
Aggregation of results. To ensure the integrity of the data, an aggregation agreement collects the data sent by each of the oracles associated with a requesting contract. In order to provide the applicant with an accurate and weighted answer, the aggregation contract averages all the information. Sometimes, some of the answers can not be averaged.
Functions outside the chain
The second component of ChainLink consists of a network of oracle nodes connected to the Ethereum network. Although currently limited to the Ethereum network, over time, it will support all leading smart contracts networks.
These off-chain nodes have the function of collecting the requested data from off-chain sources as requested by the users’ contracts. In addition, they have to process the relevant data through ChainLink Core, the central node software that allows the interaction between the chain’s out-of-chain infrastructure and the ChainLink chain.
Once the data is processed, ChainLink Core transmits it to the Oracle chain contract for the aggregation of results. In compensation for this work, Oracle off-chain operators are paid in LINK, the native ChainLink token, for collecting and sending data.
Off-chain nodes also allow developers to integrate add-ons that operators use to accommodate other programs to streamline data collection.
ChainLink uses multiple oracles to collect data for a single application contract . The oracles are expected to use multiple resources for their data collection. This guarantees the distributed nature of the platform and the accuracy of the collected data.
Fountains and distributed oracles
These two concepts discussed above help to understand how ChainLink differs from other Oracle protocols.
ChainLink is totally decentralized. As we have already mentioned, centralized oracles are risky because they can offer fraudulent data.
To overcome these security problems, ChainLink implements what it calls Oracle distribution and origin. To get a reliable reputation, oracles should extract their data from multiple sources. In addition, when a user contract places a request with the network, that request is contracted to several Oracle nodes outside the chain. These oracles may have extracted information from similar or different sources.
In effect, this two-tier distribution system keeps the oracles honest, since each data set is aggregated and compared to one another. The oracles that act and manipulate the data are punished with penalties and a damaged reputation in the ChainLink network.
To compensate for needs outside the Chainlink system chain, the LINK token is used to pay node operators. According to the developers, it is necessary for the Link token to perform this function, since the demand and the value of the tokens are directly correlated with the number of operators offering services outside the chain to the system. The LINK tokens are also used as currency of the ChainLink platform. Therefore, the more use the ChainLink platform has, the more tokens there should be.
The LINK token is described by the developers as “an ERC20 token, with the additional ERC223 transfer and call functionality (address, uint256, bytes), which allows the tokens to be received and processed by contracts within a single transaction “
The sale of LINK tokens had a limit of 32 million dollars. According to the developers, 35% of the total tokens will be allocated to node operators to serve as an incentive. Another 35% was sold in the initial offer of coins (ICO). The remaining 30% of LINK’s total tokens will remain with the company for continuous development and staff payments. Some people have expressed a negative opinion about this distribution, stating that the percentage is too high and could reduce the overall demand of the tokens.
Currently, there are 350,000,000 LINK in circulation of the total 1,000,000,000 LINK. Its price at the time of publication is 0.222878 dollars. It is ranked number 51 in the market capitalization ranking of cryptocurrencies.
Sergey Nazarov was the creator of CHainLink. Although Nazarov already had some experience in creating peer-to-peer markets, the ChainLink platform is, surprisingly, his first blockchain project. Nazarov is backed by Steve Ellis, a software engineer who has built scalable payment automation software for Pivotal Labs
ChainLink has a strong reddit community, however, the ChainLink development team is not very consistent in posting updates to their accounts on social networks.
Today, the way we communicate, seek information, relate and buy would not be understood without these 4 technological giants that nobody knew at the beginning of the century. In spite of this, GAFA (by the acronym of its initials Google, Amazon, Facebook and Apple) present inefficiencies that Blockchain could correct.
Blockchain, is a technology that works as an accounting book (Ledger) distributed by all the nodes of the network. And its main advantages are the security, immutability of your data and the elimination of intermediaries.
The blockchain is still at a premature stage where it is more important to develop scalable protocols that can sustain a considerable increase in demand.
But, applications and alternative uses are beginning to be developed, which could lead to a rethinking of the business model of many companies to be carried out.
If you have gone around this website, you will have noticed the amount of solutions offered to multiple businesses . So, now that you’re located, let’s see how it could apply to the big 4.
Google and Blockchain
Despite this slogan “Don’t be evil”, Google is the first one that sometimes does not act according to this philosophy .
Without going any further, in June last year, the European Commission sanctioned Google with a fine of 2,424 million euros for favoring their own Google Shopping ads to the detriment of the rest of the advertisers. But this is just the tip of the Iceberg.
I encourage you to enter “Google Takeout”, from there it sends you an email with all the information it has about you. And believe me, that is not little.
From your browsing history if you use Google Chrome. The places where you’ve been thanks to Maps, your searches in the search engine and on YouTube or your contacts and applications if you have an Android phone. All with the excuse of offering more personalized ads.
Once you know everything Google knows about you, it’s time to tell you what Blockchain can offer. The main premise of all alternatives should be to return users the power of their own data.
The search engine could offer rewards in the form of tokens to users who decide to share their data. Or put the potential advertisers in contact with the buyers so that they are the ones who negotiate the payment of the tokens.
Users would gain knowledge of who has access to their data, the power to revoke it whenever they want and get tokens for them .
Advertisers, decide how they want to advertise and adjust the price they are willing to pay for the data, and without having to pay an intermediary for advertising.
BitClave or Presearch are some alternatives that a search engine is developing under these assumptions.
As in the case of Google, the management of personal data is the biggest flaw that Facebook has.
In the configuration of your Facebook account you have the option of downloading a copy of the information it has about you.
Facebook has a record of your general information, a list of your friends, your photos, the contacts you have on your mobile, where you have been based on your IP address, the devices you used to connect and Messenger conversations.
And not only Facebook can have access to this data, recently the theft of data of 87 million people has been discovered by Cambridge Analytica.
A company that carried the communication of both the candidacy of Donald Trump, and the option in favor of leaving the European Union in the Brexit.
Another criticism we could make is the proliferation of hoaxes and little-known information circulating on Facebook, and the rest of social networks.
With blockchain, each person could enable a personal profile and decide who gives access to it and who does not. The information would always be in the power of that person and not a third party such as Facebook.
Readers are also rewarded by voting and commenting on others’ posts with their own token, the Steem.
Amazon and Blockchain
Many businesses depend on their sales on platforms like Amazon. This makes it a third party to impose their conditions and sellers have to follow them. Or risk having their account deleted with everything that entails.
Companies must support commissions of between 5 and 45% of each sale that affect the final customer. Finally, this platform does not reward users who value the products or leave comments.
With Blockchain, each merchant would own all the information about your productand no one could unsubscribe your account. In addition, they would avoid the attacks of hackers that usually occur in centralized platforms.
Commissions would also be considerably reduced, favoring the products that are best valued by the community. Encouraging the most active users when scoring products with a token in exchange.
Platforms like blockchainshop.io, Ecoinmerce or Syscoin are already taking steps in this direction.
Apple and Blockchain
Of the 4, a priori it would be the least affected by the adoption of Blockchain because the majority of its income comes from the sale of Hardware.
But you can change the iOS model, more specifically from your App Store. A centralized platform that imposes multiple intermediaries between developers and the end user.
In the App Store they have control over which application is in their store and which is not, and impose conditions that in many cases are not beneficial for developers.
Not to mention that they give access to the information of what applications we have installed to other platforms as we have commented previously.
The idea developed by AppCoins is to eliminate these intermediaries. The advertising of the Apps will be paid under a model of cost for attention (it is paid after the user used the app for more than 2 minutes) replacing the current model of payment by installation.
And it is rewarded with an AppCoins to the user who uses the app, which encourages the use of the applications and opens the possibility that users who had never paid for an application, do so using these tokens.
It is striking that the 4 GAFA giants have been pioneers in practically all the technologies that have been emerging in recent years such as Big Data, Machine Learning, Augmented Reality or Artificial Intelligence.
But Blockchain is resisting them , despite having the potential to solve many of the problems they are currently facing. And of being able to offer a more competitive product.
What do you think? Do not they need it or rather it does not suit them? It seems to me more the second.
In any case, all these alternatives have a long way to go to be tested and to postulate themselves as serious opponents to the big companies. But it is always good that there are other options so that abusive practices are not done.
Thank you very much for reading, and I hope you leave me your comment if you can think of another feature in which Blockchain could give a facelift to Google, Apple, Facebook, Amazon and company.
At Christmas, many women earn their first Bitcoin unit through online purchases with a browser extension called Lolli.
Cosmetics chain Sephora revealed to CoinDesk that its brand partnered with a group of retailers where buyers can have a liquid refund in either Bitcoin or cash. The refund in cryptocurrency is given through an application called Lolli, whose 30% of users are women.
“We’ve captured a lot of these retailers who were not previously interested but now they are,” Lolli CEO Alex Adelman told CoinDesk. “One of the biggest that joined us recently is Sephora, which adds a full set of retailers in the beauty category.”
Lolli’s partners, including beauty retailers such as Ulta and fashion brands such as Everlane, pay for customer referrals and grant the fiat they receive in the first instance to convert it into bitcoin rewards for buyers. Despite the broader bear market, or perhaps because of it, this startup of 6 lean people is gaining ground while other small cryptographic companies face layoffs.
Sephora did not respond to requests for comment, but San Francisco-based marketing consultancy Thien-Kim Ngo said it obtained its first bitcoin from Everlane and Sephora using Lolli. Now Ngo wants to learn more about investing as he acquires more Bitcoin.
“A couple of years ago I was quite interested,” Ngo told CoinDesk, adding that other ways to acquire Bitcoin felt “complicated” and time-consuming.
“All the news about that volatility scared me a little. I do not know much about crypto, “he said. “Lolli felt super intuitive and with less risk.“
Also notably, the head of the Sephora Innovation Lab, Nelly Mensah is a veteran Bitcoin enthusiast and co-founder of the Crypto Devs Meetup in SF. Travel can be Lolli’s most popular category, but the most important fashion and beauty retailers are gaining ground in all areas.
Challenging the standard pattern of cryptocurrency users as uncomfortable men who pay little attention to hygiene or appearance, Adelman said that Sephora’s rival, Ulta, has already caught an important cooperation from Lolli users, and not just from women.
“People were asking Sephora,” Adelman said. “Beauty has been surprisingly great. Men and women have been buying beauty products. Ulta has been an incredible retailer for us. “
To acquire Bitcoin with Lolli, users just have to install the application in their Chrome browser, and then buy as they normally would in conventional websites. Adelman said that so far 60% of Lolli users become repeat buyers, adding:
“Having places to earn bitcoins, and not only investing or mining, but also buying, has opened a new audience.“
The technical world of cryptocurrencies and their underlying technology, Blockchain, can be a daunting task for many. The cryptocurrency in its core, is a technological marvel, is achieved through the combination of advances in distributed computing and cryptography, issues that eludes the general public.
Not only that, but the subject of cryptocurrencies also involves economic, financial and commercial concepts that are required for one to understand, even before beginning to consider these currencies as an investment.
Add all the topics and you will find the field of cryptocurrencies. These layers of complexities are undoubtedly a difficult task for many of us, but it also offers a new and exciting future that we can all be part of. Blockchain is a revolutionary technology with the potential to affect many industries.
In view of the above, we have compiled the 10 main concepts and terms that are vital for you to understand in the world of cryptocurrency, which is explained through the following infographic in two special installments.
1- How Blockchain works
The underlying technology of cryptocurrencies is Blockchain, a highly complex but revolutionary breakthrough that has the potential to alter our way of life for the better. Understanding how Blockchain technology works is the first step in your journey to cryptocurrency.
After overcoming this seemingly intimidating concept, you will find that Blockchain’s technology is truly fascinating. Once you have understood how it works, it will be much easier for you to understand the entire market, from the limitation of technology to the potential to break many industries.
Knowing the fundamental differences between currencies and tokens is an indication that you really understand cryptocurrencies, which is the ultimate goal in the first place.
2- Coins vs Tokens
Both terms are often used synonymously with little understanding of their correct use, and this differentiation is an elementary basis for cryptocurrencies.
Although many cryptocurrencies existed before Bitcoin, its creation marks an important milestone in the field of digital currencies, due to its distributed and decentralized nature. The creation of Bitcoin precipitated the expansion of an exuberant and more diverse ecosystem of other currencies and tokens, even when most of them do not fall within the definition of a “currency”.
3- Identification of scams
Scams in the world of cryptocurrencies are as common as trees in the forest. Protect yourself by recognizing the common features of cryptocurrency scams. Undoubtedly, knowing how to avoid scams is a vital skill established in the “wild west” of the cryptocurrency markets.
Scams, shady projects and Ponzi schemes are an extremely common phenomenon since the world of cryptocurrency is not regulated.
4- Public and private block chains
Yes, block chains can be public, private or a hybrid of both. Public Blockchain are called without permission (since no permission is required to participate in the network), while private Blockchain are authorized (only selected entities previously approved can participate). This infographic shows an image of the advantages and disadvantages of each system.
Understanding the differences between a public and private blockchain would help us understand the limitations of each system and the possible applications of the blockchain in different industries. Blockchain will not interrupt ALL industries nor be a panacea for all the problems of humanity, but it can be applied to several use cases that would make our lives much better.
5- Consensus Algorithms
Maybe it’s the most important feature of a Blockchain. A consensus mechanism allows a decentralized and distributed system, such as the Blockchain technology, to work well. Just imagine a network that is not controlled by a single entity, as an official? How can things be done ?. How can the information be verified by each participant? The consensus mechanisms answer these important questions.
“Scaling Bitcoin – Kaizen’18” – A Nonprofit Engineering Conference focused on Bitcoin and Blockchain technology has just ended. Hundreds of Developers, Researchers, Academics got together to 1) present potential solutions to scalability challenges while identifying key areas for further research and 2) provide a venue where researchers, developers, and miners can communicate about Bitcoin development.
So, the ETFs are delayed. Yet again. It comes as no surprise since we all were expecting the same. Yet the market dumped hard. You might have seen a correlation between the acknowledgement of Bitcoin by centralized organizations and the market reaction on it.
We still remember in 2016 or even 2017, when people gave a middle finger to regulation and institutions. Now everyone is begging and waiting for government approval. What a move huh?
We understand how much community perceives the importance of ETFs in Crypto but allow us to enlighten you, WE DON’T NEED THEM, INSTEAD, THEY NEED US. But, apparently, we are getting influenced by the same thing we swore to decimate in the first place. Yes, we are talking about centralized organizations and our strong craving for their acknowledgement. So, stop holding your breath and focus on what’s important for a true decentralized world.
So, stop holding your breath and focus on what’s important for a true decentralized world.
Also, Regarding the ETFs.
Do not expect SEC decision on the CBOE (VanEck-SolidX) Bitcoin ETF in 2018, so don’t hold your breath.
We see people being disappointed about the SEC delaying the decision on the ETF from VanEck-SolidX when actually nobody should have expected the SEC to approve the first-ever Bitcoin ETF within the first 45 days after the notice was published.
Everybody should be aware that the SEC will and should take the time it is allowed to by law, which is 240 days (45 days for the first and second extension, 90 for the third, 60 for the last).
What to expect now:
1. News about rejected ETFs likely in late August (link Proshares ETF)
2. Another series of news about Bitcoin ETF rejection in September (link Direxion ETF)
3. Both of the above ETFs are not commodity-backed (instead, they’re futures, at least the Proshares for sure) and thus, do not involve actually purchasing BTC. They could also be approved, but we don’t think that’s likely.
4. The final decision on the CBOE (VanEck-SolidX) somewhere around February-March 2019.
In Addition, here’s what makes the VanEck/SolidX ETF different.
If you don’t know what differentiates the VanEck and SolidX ETF and why it gives it a massive advantage over other ETFs that have been thus far rejected, here are the main points for you to better distinguish between the same:
1. Custody: Fund is physically backed and will hold BTC (Private Keys)
2. Designed for institutions not retail: Minimum $200K investment. This gives the SEC more confidence in protecting retail investors.
3. Backed by CBOE: to be traded on BZX Equities Exchange. CBOE has already pushed through Futures and has a long standing history with the SEC.
4. Regulatory oversight: the CBOE is a trusted and regulated exchange in the eyes of the SEC
5. Index will be traded on a OTC (over the counter) desk by Voice not Electronically: this reduces risk of manipulation and increases regulatory transparency.
6. Insured: ETF is insured by a syndicate of A-rated insurers. Again, more assurance and protection for investors.
7. Both VanEck and SolidX have filed for ETFs independently: together, they bring to the table more experience and lessons learned than any other applicant.
Well, there you have it. Other ETFs have had some of these components but nothing has come close to be as robust and comprehensive as this ETF.
The Delay is a sign of confidence, as. It demonstrates the SEC’s interest in continuing to do proper due diligence versus outright rejecting it.
The question that potential investors of virtual currencies are asking more seriously is possibly how much to invest in the sector. And, certainly, it is not something that should be considered lightly.
A statement recently posted by Hashflare on Stopping SHA256 Contracts caused a lot of panics in Telegram group and customers. It was way too difficult to understand what exactly that statement means. Even admins, Daddy and Dark Force Witch announced to not continue with being an Admin (as a volunteer) with Hashflare anymore.
What is ICON? It was designed with the intention of becoming a gigantic ecosystem type that connects all the blockchain. A blockchain of banks, companies, universities, hospitals and all kinds of other organizations that can share their information thanks to ICON’s main blockchain, avoiding intermediaries by making automation possible among all.