Hedera’s governing body adds ServiceNow to its ranks

November 16, 2021 Coin Telegraph

Hedera Hashgraph intends to integrate the Now Platform to create a new level of trust and accountability in digital transformation transactions.

The Hedera Governing Council has accepted cloud-based digital workflow platform ServiceNow as its newest member. Hedera intends to integrate the Now Platform to create a new level of trust and accountability in digital transformation transactions.

Hedera and ServiceNow will develop trusted processes based on digital ledger technology, or DLT, for interactions that span multiple companies, according to the company’s press release.

ServiceNow is a cloud-based digital workflow platform that delivers outstanding customer experiences and unleashes employee productivity while also increasing business efficiency.

Hedera “provides the most secure network connectivity and transaction processing in the world,” according to a company press release. ServiceNow, on the other hand, is a core engine that drives all digital transformation efforts throughout an entire organization.

Commenting on the development, Tasker Generes, global head of strategy and transformation at ServiceNow, stated:

“Hedera is poised to become the foundation and primary broker of trust and transparency for the digital economy and ServiceNow is bringing that strategic foundation to our powerful workflow experiences.”

ServiceNow's membership on the Hedera Governing Council, according to Mance Harmon — CEO of Hedera Hashgraph — will have a significant impact on the future of distributed digital workflows and enterprise adoption of DLT. The Now Platform will empower simple, frictionless, low-code DLT adoption through the Now Platform by removing the hurdles to DLT implementation for businesses, said Harmon while speaking to Cointelegraph:

“This will be a game-changer for development teams in organizations that today have no DLT experience or expertise, and will serve to accelerate the adoption of Hedera as the DLT of choice for enterprises. Together, ServiceNow and Hedera will deliver the trusted digital workflows powered by DLT for experiences that extend beyond any one organization.”

Hedera Hashgraph, an enterprise-grade distributed ledger, has been engaged in a number of partnerships to apply blockchain technology in real-world use cases across several industries. If these initial initiatives are a success, they will open up a world of possibilities across the globe. Last month, Cointelegraph reported that the Hedera Governing Council welcomed Singapore’s DBS Bank as the first Southeast Asian bank to join the worldwide organization.

Breaking Google’s monopoly: Internxt pushes decentralized cloud as privacy concerns grow

October 21, 2021 Coin Telegraph

Cloud Services

Data monopolists like Google have abused their position, according to Internxt's Fran Villalba Segarra. Decentralized architecture offers a solution.

Privacy-focused blockchain file storage service Internxt has a lofty vision: leverage decentralized technology to break Big Tech’s monopoly over user data. Its first product, Internxt Drive, aims to compete as an alternative to Google Drive and Dropbox — without compromising personal privacy and data ownership.

In an exclusive interview with Cointelegraph, Internxt CEO Fran Villalba Segarra described the core technology behind his product and explained why privacy should be considered a fundamental human right. He also explained the perils of centralized architecture, why Big Tech constantly violates user privacy and what’s in store for internet users in the era of Web 3.

Privacy-as-a-human-right

Although privacy advocates have long been concerned about Big Tech’s exploits of user data, Facebook’s Cambridge Analytica scandal in 2018 blew the lid wide open on the subject. (As a refresher, Cambridge Analytica is a British consulting firm that was able to obtain data on millions of Facebook users without their consent. Their information was then used for political advertising.) In July 2019, the Federal Trade Commission fined the social media giant a whopping $5 billion for privacy violations.

In retrospect, exploits like Cambridge Analytica didn’t surprise Segarra, who told Cointelegraph that protecting users’ privacy conflicts with the business model of companies like Facebook, Google and Microsoft. “That’s why these companies collect more data than what is actually needed,” he explained. “Their services aren’t an end per se, but a means to an end.”

“Zero-knowledge file storage service”

The erosion of personal privacy by Big Tech compelled Segarra and his team to create a new business model based on decentralization. The company’s first product, Internxt Drive, is described as an alternative to Google Drive and Dropbox that’s based on zero-knowledge encryption and geodistributed data centers. He explained:

“Files uploaded to Internxt Drive are fragmented, client-side encrypted, and distributed all over the globe, so that a server never holds a complete file, but instead an encrypted data shard [...] In these architectures, files are often split into evenly sized segments of data. Each segment or block has its own address but no metadata to provide context about what it is. The storage target can be configured to replicate data across storage arrays or distributed file systems.”

Unlike centralized systems, where user data is stored on physical servers owned and operated by the cloud provider, decentralized architecture provides enhanced security with respect to cloud functionality.

“If a decentralized component is compromised or encounters a runtime error, which is an unrecoverable worst-case scenario in that the component goes offline while the rest of the cloud continues to function normally,” he explained. On the other hand, with centralized cloud storage systems, core functions are interlaced within the same space. “If an error or attack manages to destabilize a centralized component, the entire cloud is at risk.”

Web 3 and the future of privacy

Web 3 — a broad concept that refers to the new paradigm of internet services where users retain more control of their personal data — has been heralded as a potential solution to society’s growing privacy concerns. The current paradigm, dubbed Web 2, is mainly driven by companies that provide services in exchange for personal data.

The advent of blockchain technology has made decentralization nearly synonymous with Web 3. The decentralized cloud storage technology being championed by Internxt aligns with the narrative that Web 3 changes the very nature of data ownership and puts more control in the hands of users as opposed to the Big Tech companies. Industry observers have rightly noted that this new paradigm could challenge existing privacy regulations, especially as decentralized applications continue to grow.

“Web 3 is certainly going to be huge,” Segarra said, adding that consumer-centric applications that allow users to protect themselves online is “going to be hugely demanded by the market.”

Internxt is coming off a successful seed round, having raised $1 million in a raise that was led by Miami-based venture fund Venture City. Segarra said adoption is growing, with the company expected to generate 1,500% year-over-year growth by the end of 2021.

Russian ‘Time Capsule’ to Facilitate Inheritance of Crypto Assets

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Gaming giant Ubisoft joins Aleph.im as core channel node operator

July 8, 2021 Coin Telegraph

Blockchain Game

As Cointelegraph previously reported, Aleph.im was the only blockchain company to participate in Ubisoft's sixth annual Entrepreneurs Lab that began in May.

French video game developer Ubisoft is furthering its blockchain ambitions by joining the Aleph.im network in the capacity of channel node operator, setting the stage for further collaboration with the distributed cloud platform.

As a core channel node operator, Ubisoft is contributing to aleph.im through staking, validating and managing the decentralized network. While all nodes are able to join the network, their status as core channel node activates only after they’ve staked 500,000 ALEPH tokens.

Jonathan Schemoul, the founder and CEO of aleph.im, said his company’s “primary mission is to make decentralized cloud services a reality.”

“At Ubisoft, we believe that Blockchain holds a key to the future of the videogame industry, bringing new possibilities for players and developers alike,” said Didier Genevois, a blockchain technology developer at Ubisoft. He added:

“Beyond NFTs themselves, the decentralized storage of their metadata appears to us as a determining factor in fulfilling the whole promise of true ownership. In this perspective, the exploration of the services offered by the Aleph.im decentralized network is particularly promising.”

Ubisoft’s exposure to the aleph.im network likely grew after the blockchain network participated in its Entrepreneurs Lab alongside ten other tech startups.

Ubisoft has made it abundantly clear that it is pursuing broader blockchain initiatives. In June 2020, the company launched blockchain-based collectibles to raise funds for the United Nations Children’s Fund, or UNICEF. In the same year, Ubisoft announced it had become a validator node Tezos.

iExec RLC rallies 400% after big-name collaborations and Coinbase listing

May 10, 2021 Coin Telegraph

Altcoin Watch

Major exchange listings and real-world collaborations with Google and IBM sparked a 400% rally in the price of RLC.

Since the summer of 2020, decentralized exchanges (DEX) have been all the rage and in 2021 developers and investors continue to flock to the sector due to the ease of listing and buying into new projects.

While the method has proved fruitful for many projects, the price performance for iExec RLC (RLC), a blockchain-based decentralized cloud computing network that recently listed on several centralized exchanges, shows that CEX listings still carry the most weight when it comes to initiating price movements.

*RLC/USDT 4-hour chart. Source:* *TradingView*

Data from Cointelegraph Markets Pro and TradingView shows that the price of RLC has surged 430% to $16.50 since rising off its May 4 low at $3.16.

Centralized exchange listings ignite the rally

Momentum for RLC kicked into high gear following the May 4 announcement that it would be listed on Coinbase, the top U.S. exchange by volume, which recently made waves in the traditional financial markets following its direct listing on the NASDAQ.

CTSI, RLC, MIR & TRB are launching on https://t.co/bCG11KMQ6s & in the iOS & Android apps within the next 15 mins. You may need to update your app to buy, sell, convert, send, receive or store CTSI, RLC, MIR & TRB. We will update when all are fully live. https://t.co/4C3BS8fiUs
— Coinbase (@coinbase) May 6, 2021

On May 5 it was also revealed that the RLC would be listed on the Huobi and Bithumb exchange, bringing further legitimacy and trading volume to the token.

The project received another boost of attention following the May 6 announcement of the official start of the iExec developer rewards program in which $1 million has been allocated to “inspire developers to discover the opportunities for innovation made possible with the iExec $RLC protocol.”

Monday’s price breakout to new record highs was initiated after the following tweet that highlighted iExec’s participation in the EU-backed Data Cloud project:

iExec recently announced its position as a technology provider in the EU-backed project DataCloud, with 16 other partners @BoschGlobal, @SINTEF, @KTHuniversity, Klagenfurt Univesity, @JOT_Internet, @MOGTechnologies, @UBITECH_GR & @Tellu_AS

More details in an article coming soon: pic.twitter.com/eIwNQvYsEb
— iExec (@iEx_ec) May 10, 2021

Follow up tweets that detailed iExec’s involvement in the ‘Trusted compute’ working group within the Ethereum (ETH) Alliance, Google’s confidential cloud computing program, the Confidential Computing Consortium and its collaboration with IBM further helped provide a further boost to RLC on May 10.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for RLC on May 9, prior to the recent price rise.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.

*VORTECS™ Score (green) vs. RLC price. Source:* *Cointelegraph Markets Pro*

As seen in the chart above, the VORTECS™ Score for RLC reached a low of 48 on May 8 before quickly pushing into the dark green zone for a score of 84 on May 9, just two hours before its price rallied 120% over the next day.

After securing partnerships with some of the biggest cloud computing providers in the industry and listing on the largest centralized exchanges in the cryptocurrency market, iExec RLC looks well-positioned for further growth as mainstream investors look for real-world blockchain use cases to invest in and more money finds its way into the growing cryptocurrency ecosystem.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Protocol upgrades and Google Cloud integration lift EOS price 245% in 2021

April 16, 2021 Coin Telegraph

Altcoin Watch

EOS price hit its highest level since 2018 after protocol upgrades and big-name collaborations attract institutional investors.

On April 16 EOS price soared to a new high at $8.49 and the current market structure for the altcoin suggests there is room for further upside.

EOS initially made headlines during the ICO craze of 2018 when its parent company Block.one raised a record $4 billion in funding to create the EOSIO software and in the past three months, the altcoin has nearly tripled in value.

Data from Cointelegraph Markets and TradingView shows that since trading at a low of $2.43 on Jan. 27, the price of EOS has climbed 245% to set a multi-year high of $8.47 on April 16.

*EOS/USDT 4-hour chart. Source:* *TradingView*

Three reasons for the rally in the price of EOS since late January include the launch of the new EOS PowerUp model, the release of the new EOSIO testnet by Block.one and the announcement of a collaboration with Google Cloud to advance the integration of distributed ledger technology with cloud computing and storage.

Protocol improvements power up’ price momentum

Momentum for the EOS token began to pick up in earnest in January as approached reaching consensus on integrating the new EOS PowerUp Model which is designed to improve resource allocation.

Congratulations #EOS. Consensus has been reached and the new PowerUp model is live, improving resource allocation. Let’s continue to make EOS stronger. https://t.co/sVkcg2XsfE
— block.one (@block_one_) February 24, 2021

The PowerUp Model is the EOS network’s solution to the issue of transaction fees, which is currently one of the major issues facing the Ethereum (ETH) network.

Under the new model, users have the choice of paying a small fee to power up their account for 24 hours with CPU and NET bandwidth that can be used to fulfill transaction needs or they can deposit their unused tokens to receive a percentage of the power up fees generated by the EOS public blockchain.

As network congestion increases as global adoption rises, networks that offer acceptable solutions to high transaction costs and latency concerns are likely to attract more users looking for a smooth user experience.

New testnet ignites the rally

One of the most significant sources of momentum for EOS and its community came on April 1 when Block.one announced the release of its official EOSIO Testnet.

Ready to test your #EOSIOHackathon project? Experiment in a sandbox running the latest stable release of #EOSIO with our Testnet. #EOSIOTools https://t.co/9exrJOGtNm
— block.one (@block_one_) April 1, 2021

According to the project’s website, some of the features included in the new testnet include a multi-node distributed network, one-click blockchain account creation, an embedded EOSIO explorer and the inclusion of snapshots that enable the quick syncing of EOSIO testnet nodes to ensure high uptime.

The new testnet release is one of the most significant releases to come out of Block.one since the protocol was originally launched in 2018 and provided a boost of confidence for community members who were concerned about the January 2021 departure of Block.one chief technical officer and EOS creator Dan Larimer.

Momentum for the protocol was percolating during the month of March due to an ongoing hackathon that led up to the surprise release of the testnet on April 1 and ignited a significant price rally over the next two weeks.

Google Cloud collaboration adds rocket fuel to the rally

EOS got an added boost to price momentum on April 2 when Google Cloud posted an article discussing its collaboration with EOSIO and how it’s helping revolutionize the integration of distributed ledger technology with confidential cloud computing.

We’re helping @Block_one_ develop and operate their distributed ledger tech with the scalability and reliability of our network, innovation in Confidential Computing, and leadership in #AI / #ML and data analytics. Learn more ⬇️ https://t.co/hfJd5BbpmM
— Google Cloud (@googlecloud) April 2, 2021

Google Cloud was also one of the main partners in the aforementioned hackathon and had the goal of helping "build applications that redefine the future of blockchain and cloud-based systems” which helps to combine the transparent nature of blockchain with the speed and security offered by cloud solutions.

Having such an active relationship with a platform under the Google umbrella has given EOSIO increased validity and the filing of an EOS Grayscale trust in late January means that institutional investors now have an easier way to gain access to this growing ecosystem.