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New Balance To Use Cardano’s Blockchain To Authenticate Its Products

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New Balance

The major sportswear brand is in the blockchain latest news today for a new partnership with a cryptocurrency. In fact, we can see that the Cardano CEO Charles Hoskinson recently announced that New Balance will be using the Cardano blockchain for better authentication of its sportswear goods.

As an article published on September 28 in the latest cryptocurrency news by Crypto Briefing shows, the CEO of the blockchain engineering startup IOHK (Hoskinson) announced that the American footwear and sportswear brand New Balance will use Cardano’s blockchain to allow its customers to verify the origins on any range of products.

As it stands, Cardano and New Balance are planning to roll the program globally together. Still, the current plans do not entail the use of the ADA token during the pilot. What’s also interesting is the fact that Hoskinson made the partnership announcement during Cardano’s 2nd anniversary event at the Cardano Summit held in Plovdiv, the second largest city in Bulgaria.

If you are following our blockchain news, you probably know that a wide range of companies have begun implementing blockchain technology in their supply chains. As we recently reported, Walmart is also using blockchain to create a food traceability system based on the Linux Foundation and its Hyperledger Fabric.

In August, the public enterprise blockchain platform VeChain partnered with the Australian winemaker Penfolds – in an attempt to release a case of blockchain encypted wine bottles for sale, as part of the Wine Traceability Platform initiative.

In March this year, crypto news sites also reported that Carrefour introduced its own blockchain powered solution for tracking milk, which is seen as a new way to guarantee clients complete product traceability through the entire supply chain.

The news about New Balance integrating Cardano’s blockchain are huge in the industry and show that there could be many other similar announcements in the future. Meanwhile, the current price of Cardano (ADA) seems to be suffering, being at $0.037 right now and struggling to keep up as most of the top 20 are signaling red. Cardano’s ADA token has decreased by 4% in the recent wave of reds that appeared on the market, bringing the total market cap down to $216 billion.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

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Samsung Introduced Crypto Chips For Secure Crypto Storage

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Samsung introduced a new state of the art chip that will increase the security of its smartphones in the sphere of storing Bitcoin (BTC) and Ethereum (ETH) private keys, which in turn will boost long-term adoption as we are reading more in the crypto news further. The biggest electronics manufacturer in the world that is based in South Korea, Samsung, introduced the chips after they made an announcement about the newly designed solution to protect data that is stored on its smartphones. The company introduced a newly designed chip and optimized software that protects the private data through isolation from other parts of the phone, explained Samsung. Rapid evolution is happening in the world of smartphones, which makes it harder for developing adequate security measures, a senior executive stated, Dongho Shin. One of the best security hardware protections in all smartphones is the turnkey solution, Samsung stated. It is tamper-resistant in its entirety and able to store the confidential data of users totally separate from typical mobile memory, which makes it quite less vulnerable to exploitation. No matter the level of technical competence, people remain vulnerable to phone hacks. In October of 2019, the phone of the CTO of Algo Capital was hacked and crypto funds worth some were between $1 to $2 million were stolen. The story surfaced recently, in which a certain person lost $30 million in Bitcoin Cash after SIM hack was executed upon him. Although the new chip will not prevent these kinds of hacks, the continual development in the sphere of mobile security is a necessary component to push the mainstream nation of cryptocurrency. The new technology will also have a preventive role in replay attacks and manage failed requests. Replay attacks are a version of a man in the middle attack in which eavesdropping is performed by the attacker with the goal of gathering information from the hardware or the network in order to impersonate the user in future requests.   The newest hardware solution of the company is at the moment in production, stated Samsung. The first smartphones that will feature the advanced security solution will be in the series of Galaxy S20, which will be released in March.
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CommerceBlock ICO Review: Should You Invest In It?

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In our CommerceBlock ICO review, we are listing all of the details about this new prosperous ICO. If you are new to it, you should know that it is also new in the cryptonews. However, there is a reason why many are investing in it and its concept is pretty interesting. To begin with, we should say that this is an ICO where the team is actually focused on getting tools and API ready for financial developers to build systems on the back of the blockchain and the BTC/ETH technology. The team believes that there is a huge amount of funds which resides within the traditional banking system and is plagued by nepotism, delays, centralized control and wastage. Another part we would like to highlight in our CommerceBlock ICO review is that the team wants to liberate the funds from centralized control and bring in more security and transparency as well. The fact that the current storage of large amount of funds within the legacy banking systems is a cause for worry for a lot of people in the world. Still, it remains to be seen whether the blockchain would become the liberating force that these funds need so that they are made more accessible to the retail clients who would love the transparency which the blockchain can bring in. As we said above, the current financial system involves the presence of funds within an age-old banking system with centralized control. The CommerceBlock ICO review shows that there are a lot of inefficiencies that this projects can solve. They are also in the blockchain news for stating that this technology would help in the decentralization of control and that it can be used by any individual or business to manage trade flows, hedge currency risk and any such kind of business transaction. The team at CommerceBlock is a small one (from what we can see from their website and white paper) but they certainly have a lot of experience on the blockchain. Full of advisors and expert scientists, the development and maintenance of APIs and SDKs on the blockchain would require a lot of development effort and they plan to hire more developers for this purpose once the funds settle in after this ICO.
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Algorand Cemented Its Position As A Major Ethereum Challenger In 2020

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The world's most used stablecoin, Tether, has recently become the first stablecoin to be issued on the Algorand network. Additionally, Algorand cemented its position as a network which could challenge the Ethereum network in 2020. The crypto news showed that Tether has an estimated daily trading volume of 40 to 64 billion and recently announced that they will be partnering with Algorand. Traders will now have the option to use the USD-backed stablecoin on the Omni, Ethereum, Tron, EOS and Algorand blockchains. Regarding this collaboration and the fact that Algorand cements its position this year as an ETH challenger, the CTO of Tether Paolo Ardoino said:
“A key strength of Tether is that it is underpinned by a rich diversity of different blockchains. Our latest collaboration with Algorand leverages the speed and security of Algorand’s protocol to give traders fast settlement and reduced counterparty risk in their fiat to digital asset transactions. Tether and Algorand both share a desire to keep building next-generation financial products and we feel our growing customer base will appreciate and benefit greatly from this collaboration.”
Led by a Turing award winner named Silvio Micali, Algorand is a public, permissionless and proof-of-stake blockchain that is currently working on creating a borderless global economy. The inherent design and architecture is how Algorand cemented itself from the competition, easily conducting 1000 transactions per second and a block production time of 5 seconds per block. In comparison, the Ethereum latest news show that Ethereum manages less than 25 transactions per second and has a block production time of 15 seconds. All in all, Algorand is on a good way to provide a highly scalable platform for Tether to function at its maximum capacity. On the other hand, the network can leverage Tether's immense popularity to attract more users and institutions to its platform. This won't only increase the platform's usage - it will also bring in more developers and applications as well. While Algorand cements itself as a direct competitor to Ethereum, Tether (USDT) is also moving up and recently become the latest high profile project to collaborate with Algorand. The native token of Algorand, ALGO, has meanwhile been accepted on many major exchanges in the likes of Binance, CoinBasePRO, Huobi, Kraken and several others.
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Rarible Blockchain Art Platform Sparks Fraud Discussions

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Rarible, the blockchain-based art platform had one of its artists, Karan Singh, notifying the platform that some of his work was fraudulently listed. The issue was resolved quickly but the NFT space has started discussing the crypto regulation issues and how to prevent these incidents from happening in the future as we are reading in the crypto news today. The primary goal behind the Rarible blockchain platform is to tokenize the works of digital art is that the tokens are visible on the blockchain. The creator and the points of sale can be tracked over the life of the work. The hosting platforms such as Rarible, will mint the tokens using Ethereum and other competitors in the space including SuperRare and KnownOrigin. Once an artist uploads the work and the work gets created to a tradeable ERC721, the artists can then auction the piece so the buyers take solace in the token and trust that they are the true owners of the digital creation. However, with the latest fraud case, this trust was breached. Karan Singh who worked with Apple reported a fraudulent copy of its work on the blockchain-platform: “This is actually my work,” he tweeted, linking to his Instagram account. “And so are all of these. [Take] them down.” Another user that pretended to be Singh, had sourced the work of the artist and placed them on sale at Rarible according to the co-founder of Rarible, Ilya Komolkin. Komolkin banned the impersonator and asked the holders to burn all of the tokens that they had minted including Singh’s work. The German artist Mario Klingemann also helped to identify the fraud after having bought the work. After the announcement, he urged the buyers to burn their tokens too. The platform mitigated much of the issue and Singh’s fast response helped to keep the fraud under relative wraps and prevented the imposter from making tons of money. Since then, members of the NFT community have posed various solutions to prevent such events from happening in the future. In Singh’s, the stakes were low because he caught the fraudster quickly. If he hadn’t arrived when he did, the fraudster could have easily made money.
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