SIRIN LABS Token – Development of a Blockchain Smartphone

The company SIRIN LABS Token was founded in 2014. Initially, it positioned itself as the developer of a secure Smartphone Solarin, whose cost today is more than 14 thousand US dollars. In addition to the security of use, it offers the possibility to work with blockchain projects and the digital currency.

The company’s first mobile phone was launched in 2016. The further development of Si.rin Labs, according to the developers, will be focused on the creation of technological digital products with its own software based on a decentralized blockchain technology.

On December 12, 2017, the company launched the crypto currency – SIRIN LABS Token. The funds for its creation were collected by an ICO: Investors bought a fixed number of digital coins, which were distributed through a single issue. The total revenue was more than $150 million.

SIRIN LABS Token – What is this Bitcoin code?

Characteristics of the Bitcoin code proven by onlinebetrug that they are not a scam. One of the most important aspects of working with the crypto currency is security. Today, the company is preparing new devices with its own SIRIN LABS Shield OS operating system. The token will not be the only primary means of handling within the platform, the platform will also support other popular crypto currencies.

The platform is designed to provide the user with a fully decentralized digital currency and associated software that none of the government agencies and other structures can spy on. A special system of protection is used: the standard password system, a code phrase or personal identification number, and the electronic key.

SIRIN LABS Token – Who is behind the Bitcoin revolution?

The onlinebetrug website presents more scam: consultants, developers, designers, Bitcoin revolution specialists, security specialists and many others.

Moshe Hogeg is the founder and CEO. Moshe Hogeg is the founder and CEO of SIR.IN LABS. Moshe Hogeg is a serial entrepreneur, founder of a number of successful projects such as: Alignment Blockchain Hub, which provides consulting and support for beginner projects at the beginning of the discovery of blockchain technology.

Kenez Rakishev – Chairman of the Board. A well-known businessman and investor, one of the most influential businessmen in Kazakhstan. Kenez has held several senior positions throughout his career, both in the private and public sectors, as a consultant to the Kazakh Ministry of the Interior and the Ministry of Education.

Advantages and disadvantages
The advantages of this solution include:

the built-in crypto wallet
fast transactions and transfers all over the world
decentralised management and financing of the project
the three-stage authentication system that provides optimal protection of private information and user data
Positive moments:

A strong team. A very large staff of specialists led by talented people with a good reputation is definitely a big plus. Moreover, with solid consultants there are no problems with staff or a lack of money. And this is perhaps the most important thing in the implementation of a project – the financing and the staff. In December, the company announced a partnership with Lionel Messi, the world’s best-paid soccer player became an ambassador for SIRIN LABS.

The idea of the project. Smartphones and computers have become the most important gadgets of mankind in the 21st century, billions of dollars are spent annually in this direction. They can become a leader in the production of computers and cryptosmartphones.

EO.Trade – What can this Crypto Exchange do?

EO.Trade – The Crypto Exchange consists of 4 different platforms, which are bundled to a network. The aim of this platform is to bring different markets and services under one roof and to build a bridge between traditional trading and trading on the blockchain. At the same time, the network also has its own crypto currency, the EO.Coin.

What is the Ethereum code?

The EO coin is a utility token based on the Ethereum token, but onlinebetrug said it is scam. It performs various tasks on the ecosystem network. On EO.Trade, the token is listed as an exchange pair for other crypto currencies. This gives an incentive to use it and should at the same time facilitate the trade with crypto currencies.

Instead of using Bitcoin for almost every crypto currency to exchange any old coin, the EO Coin can be used for every exchange pair. At the same time, other purchases can also be made on the platform, as long as it is related to crypto currencies.

The token can also be used to open trades on the ExpertOption platform. The utility token is used to pay Exchange fees for transactions. The same applies to fees for your own EO Wallet.

If you pay with EO-Coin for transactions on the EO.Finance & EO.Trade platforms, you get a discount. In the first year the discount is 50%, in the second year 25%, in the third year 10% and in the fourth year 5%. The discount campaign ends in the fifth year. The discount campaigns start from the year in which the product in question is published on the platform.

The official private Pre-ICO began on March 30, 2018, and this token sale enabled the company to earn more than $5 million. Only customers who had registered on the ExpertOption platform could participate in the private sale. The first public presale will take place from 16 April to 29 June, the final public ICO from 16 July to 30 August. In total there are 1 billion coins, of which 70% are for sale. 20% will remain with the company, 5% with the bounty program and 5% with the development team.

Who is behind a Bitcoin trader?

The CEO of the EO Group is Ivan Opria. He is also the Bitcoin trader of ExpertOption. The technical director of the project is Ivan Dashkevich. He has 5 years of experience in leading and developing development teams. His experience with crypto currencies and blockchains is about 3 years. According to the EO website, he and his teams created software that can withstand high loads and has already reached millions of people. The head of marketing is Vladimir Arsenev. He helped build the Expert Option platform and help it succeed.

Heinz Grünwald and Kenji Cheung are the team’s consultants. Heinz is a worldwide known marketing expert, crypto consultant and investor in crypto currencies. He has been working in digital marketing for over 12 years, focusing on helping companies implement blockchains. He founded several companies, including New Challenge. Kenji Cheung founded Space Capital Group and Crypto28 and is also a crypto investor and advisor to the company for the Asian market.

BTC Wal moves 48,000 Bitcoin for 4 Cent charges

The development of scaling solutions, coupled with a decline in Bitcoin transaction throughput, has resulted in Bitcoin fees falling below a dollar. A so-called “Bitcoin whale” (someone who owns large amounts of Bitcoins) took advantage of these declining fees and moved 48,000 Bitcoins for just four cents.

A $290 million transaction for four cents
The high Bitcoin fees were the issue in December 2017 when they briefly reached $50 as the network confirmed nearly 400,000 transactions per day. Since then, transactions have halved and dropped to an average of 200,000 per day.

This decline in transactions has allowed Bitcoin to delete the mempools, as the network was clogged by transactions in the second half of 2017. According to Blockchain.info, the number of transactions waiting for confirmation has dropped from an average of 100,000 to 5,000.

Has allowed Bitcoin Profit

It has been widely speculated that Bitcoin’s critics, who were out to ruin Bitcoin’s credibility and reliability, deliberately increased the fees for Bitcoin transactions. They are said to have littered Bitcoin blocks with ‘spam’ transactions. Others Bitcoin Profit observe that the exponential increase in transaction fees was also due to Bitcoin’s growing interest.

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The BTC Wal executed a Bitcoin transaction worth over $290 million for four cents in fees. The transaction took place yesterday evening when the Bitcoin user transferred 48,500 Bitcoin. One Twitter user put it suitably:

“Can you imagine moving 300 million dollars for 0.04 dollars with the traditional banking system? No, no, you can’t.”

For years, the crypto community has been looking for a way to reduce transaction fees to a minimum while increasing the throughput rate for Bitcoin transactions.

Scaling solutions: Segwit and the Lightning Network
Segwit is an enhancement to the Bitcoin network that changes the transaction format of BTC transactions. Segwit enables a drastic reduction in transaction size, which helps reduce charges while allowing a larger number of transactions to be stored within a block. This protocol, which was activated in August 2017, has already established itself in the network, with over 36 percent of all transactions now running through Segwit addresses.

The implementation of the Segwit protocol was critical in ensuring that the Lightning Network, another scaling solution, could work. The Lightning Network is an off-chain scaling solution that promotes the use of Bitcoin for micro payments. This special scaling solution uses balance sheets, payment channels and multi-sig addresses. By using this system, thousands of transactions could be performed per second for minimal fees.

McAfee vs. SEC – Debate about Bitcoin, Ethereum, Ripple, IOTA & Co.

Crypto currency advocate, weapons lover and potential US presidential candidate for 2020, John McAfee, called on the SEC to hold a live national television debate on SEC Chairman Jay Clayton’s recent statements on the regulatory status of crypto currencies.

The SEC believes that crypto currencies such as Ripple, Ethereum, IOTA & Co. if financed by an ICO are securities. McAfee, Clayton called on Twitter earlier this week to discuss the crypto currencies on CNN.

McAfee launches offensive
The latest classification of all ICOs as securities by the SEC Chairman triggered the following tweet:

John McAfee

@officialmcafee
The head of the SEC declared today that all ICOs are securities. While I STRONGLY disagree, and believe that the majority of ICOs do not meet the Suprene Court Howey Test for securities, I will submit, for now, to their rules and will not work with future ICOs… But, I’ll be back

17:05 – 7 June 2018
661
270 users talking about it
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The SEC’s official view of crypto currencies seems to be shifting towards a position www.binarycheck.net that could potentially lead to the implementation of stringent regulatory measures.

“The time has come to separate money from the state and for the first time the tools are available.”

McAfee turned directly to the SEC and called on the regulator to hold a debate on national television, similar to the debate between McAfee and former FBI officer Steve Rogers in 2016, which focused on privacy:

YouTube @YouTube

John McAfee

@officialmcafee
I challenge the SEC to debate me on CNN. I debated the FBI two years ago when they overstepped their bounds. You, the SEC, have overstepped your bounds. I ripped the FBI a new asshole on CNN. I welcome the opportunity to RIP the SEC a new asshole.https://youtu.be/HqI0jbKGaT8

18:06 – 7 June 2018
1.651
510 users talking about it
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What would be the consequences of a security classification?
While crypto currencies and the blockchain in general are decentralized, the classification of the government can lead to far-reaching problems. Using the current approach of the SEC means that crypto currencies such as Ethereum, EOS, IOTA, Ripple and many others are considered securities.

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The consequence would be that only exchanges with an appropriate license scamcontrol would be allowed to offer trading with them. Furthermore, the question is how the projects themselves would have to deal with this classification. Does this mean that one would be equated with a stock corporation and would have to meet all legal requirements so that the decentralized currencies would be almost completely centralized by a decision of the SEC? So far there is no clear statement as to what a concrete classification could look like.

However, Bitcoin is exempt from securities classification because even the SEC recognizes that Bitcoin is a direct competitor of a Fiat currency and has not been issued as a financing measure.

Insurance giant AXA publishes product on Ethereum Blockchain

AXA, the insurance giant and the second largest financial company in the world with total assets of one trillion dollars and an annual income of six billion dollars, has launched an insurance product that uses smart contracts via the public blockchain of Ethereum.

Bitcoin Profit – Smart Contract on Ethererum Blockchain

The product called Fizzy is similar to Etherisc, formerly known as FlightDelay, where individuals pay an insurance premium and automatically receive compensation if the flight is more than two hours late. The automated part is handled by the Smart-Contract using a “simple” if/then rule, while the flight data is made available by third parties and linked to the Smart-Contract in various ways. In Fizzy, the premium and compensation payment process is not yet automated. They also plan to add crypto currencies, but also said:

“It is not the easiest feature for legal, regulatory and accounting reasons.

New lines of code have been unveiled

The company publicly unveiled the intelligent contract yesterday, which contained only about 200 lines of code. Laurent Benichou about his experiences with the Smart Contract on reddit:

“It’s much more complex than I expected! Air traffic data is neither 100% available nor clean, and the need to test airworthiness is difficult for potential business partners to accept. In traditional insurance, we would insure all flights and it would be the customer’s responsibility to provide proof of delay”.

The insurance itself determines that there is a flight delay or an event that triggers compensation, so that this can be done automatically without the customer having to prove it. This means that in at least simple cases, several hours of working time https://www.onlinebetrug.net/en/ can be saved, as the personnel no longer have to manually analyze the cases of damage. In addition, comfort can be increased considerably on the customer side, since no more paperwork has to be submitted.

“We plan to expand beyond our flights in the future. We believe that parametric insurance is a very strong application for the use of public blockchain.”

A parametric insurance is an if-then insurance, so to speak, which does not compensate the entire loss, but clarifies if event X occurs, then you receive compensation Y. To simplify matters when a certain event occurs (e.g. earthquake level 3), the smart contract takes effect by automatically generating and confirming the data by the respective official authority and then transferring the percentage sum insured, e.g. 30 percent, directly to the claimants. Of course there would be a huge market for such applications, but is there also a market for Fizzy? Benichou replied as follows:

“Even though it’s always hard to say for a brand new product, we think there is a retail market today. As airlines become more and more customer-oriented and this type of service is automatically offered to customers, the market opportunity for insurers will shift to business to business (B2B).

3 historical reasons why governments could ban Bitcoin

Bitcoin has been on the fringes of global financial markets for almost a decade. This asset class has always been gaining in importance. Can the government of a larger country still do the unthinkable – and prohibit Bitcoin?

Flashback – The possession of illegal gold

Those who believe that governments (except those with dictators) would not take the extreme step of banning bitcoin need a brief lesson from history. There was a time when owning gold bars was a crime in America. Up to ten years in prison were threatened. In 1933, the American President Franklin D. Roosevelt issued an order urging all Americans to transfer their gold holdings to the Federal Reserve Bank. The ban on the possession of gold remained in place for more than four decades before President Ford legalised the possession of gold. This step was legitimized by the fact that America left the gold standard a while earlier. In other words, since the American government no longer saw the need to have the amount of notes it printed available in equal relation to gold, the Federal Reserve Bank was able to sell’its’ gold.

The Great Chinese Firewall

Another argument that Bitcoin cannot be banned by governments in an age of the globalized Internet economy is that they do not have the authority or power to do so. However, we also had to watch as China even set up its “own Internet”. Through a mixture of state legislation and the blocking of popular foreign websites by Chinese Internet providers, the government of China has tried to limit its inhabitants to a walled garden instead of letting them look at the entire World Wide Web. Traffic control instruments are used by the government to suppress political disagreements. Nevertheless, it would be a problem for the Chinese government to take the step of finally banning Bitcoin.