• IOTA Foundation partners with Crypto Storage
    AG on an institutional-grade IOTA token storage infrastructure solution




IOTA Foundation, a non-profit designed to support the
development and standardization of new distributed ledger technologies (including
the IOTA Tangle), has been working quite hard since the turn of the year. The
latest feat they achieved is the partnership with Crypto Storage AG, one that
is expected to further the project’s goal of creating the future IOT-compatible
economy.





Crypto Storage AG is a subsidiary of Crypto Finance AG and
will be looking to create the first multi-signature solution available for the
storage of high volumes of IOTA tokens worldwide. The solution will aim to
satisfy the needs of financial intermediaries storing IOTA tokens, as well as
various partners looking to create IOTA-based concepts across a plethora of industries.





Private, public investors as well as institutional investors and
beneficiaries- will be able to use this solution to securely manage and
store their IOTA tokens. By leveraging Tangle’s “permissionless, no-fee,
non-blockchain distributed ledger,” Crypto Storage AG expects to deliver a
solution offering “professional level of security for IOTA’s industry partners
and users.” Crypto Storage AG clients now
may enable their business model with IOTA investments, and leading companies in
industry working with IOTA can meet their institutional and compliance
requirements, claims the project’s blog
post
about this partnership.





“Crypto Storage AG is
proud to support the IOTA platform with our top-tier infrastructure, as we see
rising demand with our clients and IOTA’s industry partners to enable the IOTA
token without compromising on security,”
says Stijn Vander Straeten, CEO of
Crypto Storage AG.





“Keeping data secure
with infrastructure from Crypto Storage AG will contribute to the development
of these concepts and the IOTA Foundation’s vision of supporting a
machine-to-machine economy,”
says David Sønstebø, co-founder and co-chair
of IOTA Foundation.





  • ICON to
    participate in “Seoul Immersive Blockchain” study trip




ICON team published information that they will act as a
featured host during the upcoming “Seoul Immersive Blockchain”, an event that will
take place at the Ibis Style Ambassador
Gangnam from January 8th to 11th.-





The event is a private blockchain study trip led by official
educational institutions of the Singaporean government. Among the government
institutions present will be the SkillsFuture Singapore (SSG), a statutory
board under the Ministry of Education. Overall, a number of state run
institutions and industrial leaders in the field of finance, medicine,
e-commerce, and retail are expected to visit the event and “share business
models utilizing blockchain technology and the potential for technological
innovations.”





ICON will represent the Korean blockchain industry during
the event with the project’s director of public affairs, Josh Choi, introducing
the guests to a speech titled “Path to Adoption”. The speech will detail ICON’s
recent achievements and their vision for the future, with special attention
placed on project’s Singaporean accelerator called “TRIBE”.





“As ‘TRIBE’, ICON’s
Singaporean accelerator program, has been recognized as the first blockchain
accelerator supported by Enterprise Singapore, a significant Singaporean
government agency, we expect this event to further expand our presence in
Singapore,”
explains ICON.





  • Julian
    Hosp abandons the TenX project after allegedly dumping 2.22 million PAY tokens
    on investors




Now already former founder/CEO of TenX, Julian Hosp, yesterday
published a “short and emotional” video detailing his intention to step down
from all of his roles at the mentioned project.





The
video
– titled “I am stepping down as TenX president” – sees a somewhat
nervous and fidgety Hosp inform the community that he and other project members
came to a mutual conclusion that it’s best for all parties involved if he was
to leave the project effective immediately. After thanking the team for their
efforts and reiterating his certainty that they’ll do well in the future, Hosp said
that he will be taking a few weeks off to “recapture”. Finally, he ended the
video by thanking the community for the support that was given to him and the
project during the previous period. Needless to say, the community reaction
wasn’t exactly a positive one. Hosp pre-emptively disabled the comments and the
like/dislike ratio on the video, as he likely expected the heavy backlash which
came after these news were broken.





For those out of the loop with the TenX fiasco, the project
was supposed to deliver a crypto-backed debit card which would allow people to
use their cryptocurrency for real-life payments. It was one of the earliest crypto
debit card projects on the market; the levels of excitement that the community
expressed towards TenX can be summed up by the fact that it managed to collect
$80 million during its ICO.





However, the project came across various big hurdles in its
development. Hosp, as its main promoter and public personality, has naturally
been taking most of the blame for TenX’s failures to overcome these hurdles. To
make matters worse, it was recently revealed that Hosp used to be a part of
Lyoness, a start-up that has been banned from several countries on the grounds
of being a MLM scheme.





A cherry on top of the entire story has been the revelation
made by a Reddit user gmgh, who published a thread
titled “Did TenX Ex-CoFounder Julian Hosp dump 2.22M of PAY tokens on Bittrex?”
on r/CryptoCurrency today. The user noticed that a person he alleges is either
Hosp or someone tied to him sent 2,222,035 PAY- tokens to a Bittrex address,
tokens which were later dumped on the open market. He summarizes his thoughts
in a rather strong-worded manner:





“It seems highly
likely to me that Julian has dumped all his PAY tokens trying to sell the
intermediate top into the hype surrounding the token
snapshot
. The price has fallen
dramatically over the past 2 weeks, since the deposits came in. The snapshot
period is also the perfect smokescreen to cover him exiting his position, since
volume before and after would be higher than usual.”





As of now, TenX sits in limbo without its most popular
representative (for better or for worse) and without any semblance of a
functional debit card.





  • Vertcoin development
    update for December- of 2018 released




Vertcoin is currently heavily embroiled in preparations for
their upcoming hard fork, according to their development update for December of
2018.





The update reveals that this will be the project’s third
fork since this ASIC mining resistance-chasing cryptocurrency went live. All of
the previous forks were made in an effort to kick off ASICs from the network
and make it GPU mining-friendly. The newly-coded resistances wouldn’t last
long, and recent revelations have shown that there are several ASICs on the
market capable of mining on the Vertcoin network. Vertcoin also suffered a 51%
attack in late 2018 as a direct result of most of the mining community using
GPU hardware.





To solve this problem, the project announced the upcoming
hard fork back in autumn of 2018. The fork will look to upgrade the hashing
algorithm from Lyra2REv2 to Lyra2REv3, an algorithm that is expected to deliver
several improvements:





  • Render ASICs useless
  • Reduce inherent advantages of ASICs/FPGAs over
    GPUs
  • Enable hard forking in a fast, yet safe and
    secure way




The hard fork is planned to take place at block 1080000.
With the Vertcoin block time being 2.5 minutes, that places the fork date
somewhere around February 2nd. The project set up a website which
shows the countdown towards the hard fork which can be found here.





The project informed the Vertcoin community (exchanges,
wallet providers, miners, regular owners, system integrators and payment
providers) that they’ll need to update their wallets to the latest release in
order to prepare for the hard fork. Ledger and Trezor, two hardware wallet
providers, have confirmed that they’ll update their software to support the
fork. Check out the complete Vertcoin December Development update here.


The post IOTA Foundation partners with Crypto Storage AG on an institutional-grade IOTA token storage infrastructure solution appeared first on CaptainAltcoin.




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