Blockchain will mark the end of password epoch

Some specialists are sure that we can find the solution for digital identity in the cryptocurrency system
02 December 2017   1958

There is fundamental forecast due to the digital accounts controlled by different enterprises, government institutes, banks and others who keep all data on a decentralized fiscal accountings and blockchains. They say that cryptocurrency system as Bitcoin, for example, can be applied to Internet identification system without any mediators.

Furthermore, every account owner can chose himself who can have control over his data. It can be just one person or another with special permission.

 

Drummond Reed

The co-founder and director of Evernym

Such system uses cryptography with shared key the same that blockchain websites utilize for transaction control. The technology, however, appeared too difficult for development, but the popularity and new cryptography impulse gave momentum to the idea propagation.

Shared key based on two kinds of key: on public and individual one. Both are used to identify account owners and corroborate encoded transactions. In fact, the users’ blockchain account is their individual regulating system.

Will users be agree to give up their old ligins and passwords? We won’t cope with this issue ourselves, we need support from web designers, social workers and everyone who is inspired by this idea.

 

Meltem Demirors

The director of Digital Currency Group

Government authorities are on the way of accepting this idea. Illinois state has already signed the contract connected with creation the base for newborns. Switzerland also begins to introduce this project for its population.

Users Suspected RusGas of Scam

Reddit users have already accused RusGas of exit scam, since its behavior is much like  recent scam project Oyster Protocol
07 December 2018   97

The RusGas cryptocurrency project (RGS) demonstrates disturbing signs and releases new tokens in excess of the pre-set emission limit, Cryptovest reports. With an aggregate capitalization of $ 117, RGS trading volume for the last few days is $ 35,000. Events unfold against the backdrop of promises made by the project organizers about the upcoming restart.

Most of the RGS trade is focused on the Crex24 exchange, which has a daily  of $ 700,000. RusGas had a daily volume of several million dollars in its best days, which already then caused questions about the authenticity of this value.

According to CoinMarketCap, RGS emissions are limited to 10 billion tokens, but Etherscan indicates that currently 298 addresses contain 860 billion RGS. The rapid growth of emissions was recorded in recent days and hours. The largest wallet contains 99% of all tokens, which is probably the crex24 wallet. The developers themselves explain these movements to the next restart.

Reddit users have already accused RusGas of exit scam, since its behavior is much like  recent scam project Oyster Protocol(PRL), when the additional issue feature was used in a smart contract.

The likelihood of such an outcome is a characteristic feature of projects based on the Ethereum protocol, which allows additional emission of tokens through a smart contract at the discretion of its owner, not to mention other vulnerabilities that cost investors a lot of money.

RusGas is based on the idea of ​​using tokens and blockchains to optimize the Russian gas industry. Despite the dubiousness of the project’s mission, the data on the network indicates that in April of this year he managed to raise $ 2.2 million for ICO.