Verasity crypto bubbles
This sale was a milestone not so much for the price, but for being the first time a major auction house had offered a purely digital work of art that would be paid for in cryptocurrency and auctioned online. In a world where everything can be replicated with a simple copy-and-paste, NFTs lend uniqueness to an image, and endow it with exclusivity. Some see these assets as a revolution that will change the art world forever, while others denounce what they see as a bubble that will burst and leave nothing but a trail of smoke. NFTs have introduced new artists to the art market, she believes, and also introduced new buyers.
We are searching data for your request:
Verasity crypto bubbles
Upon completion, a link will appear to access the found materials.
Compliance in the crypto world
Try out PMC Labs and tell us what you think. Learn More. The research presented aims to investigate the relationship between privacy and anonymisation in blockchain technologies on different fields of application. The study is carried out through a systematic literature review in different databases, obtaining in a first phase of selection publications, of which 28 were selected for data extraction.
The results obtained provide a strong relationship between privacy and anonymisation in most of the fields of application of blockchain, as well as a description of the techniques used for this purpose, such as Ring Signature, homomorphic encryption, k-anonymity or data obfuscation.
Among the literature researched, some limitations and future lines of research on issues close to blockchain technology in the different fields of application can be detected.
As conclusion, we extract the different degrees of application of privacy according to the mechanisms used and different techniques for the implementation of anonymisation, being one of the risks for privacy the traceability of the operations.
The European Union has published and recently made available to the whole Union its General Data Protection Regulation GDPR and, given the need to reinforce privacy in the processing of personal data, it seems that anonymisation has been raised as a possible mechanism for its implementation. To this end, technological challenges are posed to comply with the standard [ 1 , 2 ] in all its dimensions in terms of data storage, processing, access control, identity management and security of computer systems.
Subsequently, measures represent an extremely important issue overall in the event of security breaches [ 3 , 4 ] and to ensure the traceability of transactions when reconstructing information in the event of a catastrophe or attack, even making it possible to reconstruct information and events from the perspective of computer forensics.
It is from this moment on that special emphasis is placed on the concept of privacy and on using the appropriate technology and mechanisms that make this possible; a concept that is directly related to the other term we include in the research: anonymisation. These two concepts belonging to the field of cybersecurity and the treatment of personal data—privacy and anonymisation—are what we intend to analyse through this work in addition to how it is being managed by blockchain technology, analysing the different mechanisms used as well as their advantages and disadvantages.
One of the objectives pursued by the GDPR is the transparency of data processing, something which implies close attention to the processing of data and the fact that it makes it necessary to deploy information security measures in order to achieve its purpose.
Privacy and information security are closely related concepts; security mechanisms are needed to guarantee privacy. On the other hand, anonymity [ 5 ] is the ability to transform an identity into something unidentifiable, so that the process of obtaining a relationship with the original identity is irreversible.
To achieve the validation of an anonymisation technique, the singularisation of an identity, the linking of related data and the inference of information relating to a given identity must be avoided. Both concepts, privacy and anonymity, present a challenge for the conjugation of the blockchain technology and the adaptation to the GDPR, and its study becomes a necessity with the aim of being able to provide information about it, even more so when we are facing an emerging and disruptive technology.
Based on the article published by Satoshi Nakamoto in [ 6 ], the term blockchain represents a new technology beyond a virtual currency capable of providing a different perspective from the one known up to now for characteristics such as transparency and privacy. Taking into account different implementations of blockchain can define several levels of privacy and anonymity as well as transparency and immutability of records [ 7 , 8 ], and for this it is necessary to design and implement privacy and anonymisation mechanisms that guarantee these features included in blockchain.
For blockchain 3. Therefore, the importance of investigating the mechanisms that in a globalized way make possible the privacy, traceability, anonymity and above all security, remarkable contributions of blockchain technology. The aims of the paper are as follows.
The rest of the paper is organised as follows. Section 2 shows some similar work carried out by the scientific community shaping the state-of-the-art. Section 3 presents an overview of blockchain technology and its main features.
Section 4 gives an introduction of the research method applied to carried out the SLR. Section 5 presents the analysis of the results obtained. Section 6 develops the discussion on the data obtained.
Section 7 presents the conclusions giving answers to the questions planned at the beginning of the investigation. Section 8 offers a proposal for future investigations. The increased interest in disruptive technologies, including blockchain, has led to review studies to ascertain the state-of-the-art. We have considered some whose approach is similar to the objective we are proposing, although they present notable differences, either in terms of the areas of application or the questions they attempt to answer.
We have detected, especially in the most recent studies, the incorporation of sensor networks into blockchain technology, as a way of taking advantage of the benefits it offers in terms of security, traceability, transparency and immutability.
The study carried out in [ 10 ] is a systematic review of the privacy challenges in blockchain, whose main contributions are to identify and categorise the main privacy challenges in blockchain and develop a systematic review of the main techniques in privacy preservation and solutions for blockchain, including a taxonomy that categorises the main techniques employed.
It also includes several research proposals of the main scenarios, such as cryptocurrencies, health, smart cities, IoT or e-Administration, and analysing their trends.
This study shows some of the difficulties that blockchain presents in its adaptation to the GDPR. The study conducted in [ 11 ] takes the perspective of application blockchain-based applications in multiple domains such as supply chains, business, health, IoT, energy, education or data management. It is a literature review study that, in turn, provides a description of blockchain technology.
It aims to classify the range of blockchain applications in different sectors and describe the suitability of blockchain technology to create value in these sectors taking into account their limitations.
This study highlights business and industry sectors as the most researched in in their relationship with blockchain, followed by IoT, governance and data management. In contrast, the sectors on which the application of blockchain technology has been least researched are the education and financial sectors.
In terms of privacy and security, the study sees an opportunity for improvement in being able to incorporate blockchain and the features it provides, such as secure transactions and anonymity. It also raises the question of the energy sustainability of the blockchain protocol, the high consumption required for its operation and the need to find alternative protocols that are more efficient from the point of view of energy consumption.
Regarding the issue of privacy and security on blockchain for data management, the author states that privacy and confidentiality are still a problem for blockchain due to the fact of storing information as a public ledger and the mechanisms used, as pseudonyms, do not solve the problem with enough guarantee.
In fact, pseudonymisation is not a method of anonymisation, but a technique that reduces the linkage of a data set with the original identity to which it belongs. The author considers that this technology is still to be matured to be applied in scenarios where traditional databases are used and that it does not yet compensate them to integrate blockchain. In [ 12 ], IoT devices and their applications can be enhanced using blockchain technology.
The original blockchain structure is difficult to use in IoT because of bandwidth limitations, scalability difficulties and expensive consensus algorithms. In this publication, and to respond to these limitations, it proposes a lightweight scalable blockchain model LSB that provides confidence and reduces the processing time needed to validate a transaction. For the health sector, in [ 13 ] the state-of-the-art on preserving security and privacy in medical data is studied.
It classifies into permissionless and permissioned blockchain approaches, analysing their advantages and disadvantages. From the health field, the authors find it financially impractical to implement blockchain to store medical data of millions of patients, a finding considered normal as it was originally designed for small transactions. On the other hand, most data have their own life cycle, and it becomes unnecessary to continue storing information when it is no longer useful.
When faced with the option of implementing blockchain as a solution in the health field, the solution outside the chain appears to be the most likely, but it should be noted that blockchain can only consider the security of the data stored in it, the need arises to find a way to secure the information stored outside the chain. Because of this it considers that the encryption of medical data is necessary, as well as the secure storage of keys.
It considers the importance of dealing with sensitive information, such as medical data, when implementing security and privacy protection, ensuring the confidentiality, integrity and authenticity of the data. Although blockchain is a new paradigm that has its own advantages over traditional technologies, there are still issues to be resolved and further research into medical data management. This study [ 14 ] puts the focus on blockchain architecture, consensus algorithms, applications, trade-offs and challenges.
It studies its application in the fields of health, energy industry, stock exchange, voting, insurance, identity management and trade finance. The current problems in regulation and the fact that there is no international model for crypto-currency are adverse factors to the promotion of crypto-currency. In this work, we expose some of the vulnerabilities that blockchain has in the face of a possible attack and which exposes users to cybercrime.
It leaves open to future investigations issues such as security, privacy, scalability and energy consumption, on which there are aspects to be resolved or improved.
By paying attention to the use of the blockchain for IoT [ 15 ], we can see the growth in the number of IoT devices and the challenges that arise in order to take advantage of the technology.
Blockchain is not always the best solution for any scenario, it is a matter of determining in an appropriate way and determining which of the following characteristics are necessary for its application in IoT: decentralisation, P2P exchange, payment systems, sequential public transactions, robust distributed system and collection of micro-transactions. For BIoT, it describes a wide spectrum of applications. By means of blockchain it is possible to improve the low security level that IoT devices have.
The question of privacy from the point of view of IoT is conditioned by the resource restrictions of the devices, which do not always have the possibility of developing the computational load used in blockchain. Furthermore, energy efficiency in IoT devices is another weak point when it comes to integration with blockchain due to the consumption required by the mining process. As for the hashing algorithms, Script, or X11, is faster and reduces energy consumption in the mining process.
However, it is still in a very early stage of BIoT and it needs to go deeper in the research to improve some aspects. Power and computing limitations can make it difficult for IoT devices to participate directly in the blockchain, so the authors of [ 16 ] present a cloud computing service to free IoT devices from complex tasks requiring computing power, and then present a model in which the miners and the cloud provider participate in the blockchain.
In [ 17 ], the authors focus on protecting the security and privacy of the data collected through the sensors and the challenge this poses for the Industrial Internet of Things IIoT and the cloud service provider.
Taking advantage of the characteristics offered by the blockchain, such as transparency and immutability, it implements smart contracts with Ethereum to guarantee the security of the information. The emergence of 5G technology together with the IoT represents a possible solution to the need for sufficient bandwidth to guarantee secure real-time data operations on goods in transit in supply chains, where [ 19 ] it proposes an access control protocol based on blockchain, which in addition to communication and computing efficiency, also supports several security and functionality features.
Our study is focused on identifying how the mechanisms available in blockchain are used to achieve privacy in the information and, if it does so in a sufficient way according to the context of application, determine if it is compatible with the application of GDPR and, if so, show the disadvantages detected before the blockchain technology. Since , Satoshi Nakamoto [ 6 ] published an article announcing a new digital currency with features that were a technological revolution, not just in the world of finance.
This was a new way of doing things given the philosophy behind the model created from Bitcoin. This new currency gives rise to something much more important and brings innovation to existing models in terms of the organisation and storage of information; blockchain technology is introduced.
First of all, it means the elimination of intermediaries, achieving the democratisation of all the participating nodes, a network between equals peer to peer P2P that through a consensus protocol manage to validate the information that enters the blockchain. The possibility that all network participants have a copy of the database distributed database is achieved by avoiding a centralised trust environment and provides greater security against a possible failure of a single point, it begins to build a much more resistant structure to possible attacks.
There are many different properties that blockchain technology provides to any area where it is desired to apply, ranging from service availability to the persistence of validated information in the system.
As this innovative idea about cryptocurrencies was initially proposed, over the years other versions of Bitcoin have emerged, introducing other cryptocurrencies such as Litecoin, Ripple, Monero, Ethereum and many more.
Projects such as ALASTRIA [ 20 ] were born, which represents a commitment to research and development of blockchain technology in different sectors of the productive fabric. With the smart contracts, blockchain was provided with a new functionality, introducing software contracts in the chain of blocks that, by satisfying certain conditions, would validate their execution without the need for third parties to intervene Blockchain 2.
The next step was to apply this technology to other fields, where the characteristic of decentralisation is used to carry out the development of decentralised software applications DApp and which is known as Blockchain 3.
According to the works in [ 7 , 8 , 23 , 24 , 25 ], blockchain has been used in several areas, such as health, logistics and transport, IoT or even in industry Industry 4.
This is an industry whose processes are digitised with exhaustive precision and which involves different types of industrial elements, sensors, actuators and other electronic and therefore computer components.
At the moment the industry is facing a great modernisation and radical changes in the design of its productive processes in which other technological areas become part such as IoT, Big Data, Augmented Reality, Cloud Computing, 3D Printing and even Artificial Intelligence, intelligent cities, which implies this opening of the blockchain technology to a multitude of different devices that interact with each other sharing information, is what we call Industry 4.
The fact is that blockchain technology has meant much more than the development of digital currency. It has made possible a new form of information processing, with all that it implies, by designing a blockchain with very specific elements [ 26 ]:. It is the information storage structure: a distributed ledger. This means that all participating members of the blockchain have an identical copy of this distributed database.
Consensus Protocols. Each time a new block is introduced in the network, it needs to be validated by a majority of members belonging to the blockchain network and this is achieved through the consensus protocols. These are the network nodes that create the new blocks.
To do this they have to solve a complex cryptographic problem that requires a lot of computing power, the node that first solves the challenge is responsible for creating the new block and therefore receives a reward.
This type of cryptography makes it possible not only to uniquely identify the participating nodes of the blockchain network and facilitate communication between them through public—private keys, but also to identify blocks and transactions in a secure and unrepeatable way in the system. Hash functions e.
Network of nodes that make up the entire blockchain network and between which there is communication, exchanging data, transactions, adding new blocks or validating transactions.
B ubbles, bubbles everywhere. So say an increasing number of Wall Street professionals, who see the lofty prices of everything from equities to Bitcoin, new homes to the soaring value of newly public companies as clear signs that the financial system is again on the verge of a major reset similar to what happened in and But is it true? And then there is the SPAC phenomenon , which is a complicated vehicle to bring private companies public and is seeing a multi-billion frenzy. What could go wrong? Assets soaring, however, is not in and of itself a sign of bubble.
Author: Jeffrey Craig Date: November 17, Since the very beginning, people have called cryptocurrencies bubble-like assets. The reasons they gave were: one, cryptocurrencies could not be used to purchase daily things, two, cryptocurrencies were isolated in coder communities, and three, no one could invest in them. Therefore, people early on came to the conclusion that they had no value. However, once Bitcoin and Ethereum became more mainstream, particularly in , the market for cryptocurrencies grew and investors started to pile in. This was because the real economy was experiencing poor fundamentals, rising prices, and inflation, which were all caused by the pandemic and subsequent policy responses. As a result, their valuations soared and many first-time investors came into the space, which further boosted prices. The rapid ascent of cryptocurrencies created a problem.
Blockchain: Hot stuff or hot air?
Cryptocurrency, Bitcoin, Ethereum and Ripple are now established investment products. But as these assets are so new, Muslims have a whole series of questions around them both from an Islamic perspective but also a commercial perspective. In this detailed guide which we will add to live we will cover off all the big question on this topic. Each of the links below refers to a detailed article that we have done to address that question. Zakat on Crypto is a topical question.
Financial Wisdom Forum
Shaun MacDonald was an ambitious tech innovator whose start-up was going to revolutionize the crypto economy. His wealthy investors had no idea that their charismatic founder was really Boaz Manor, a notorious Canadian white-collar criminal. It was only a matter of time before they discovered the truth. I n late , a tech start-up debuted in New York, one that would eventually come to be known as Blockchain Terminal. It was founded by a man who called himself Shaun MacDonald, a dark-bearded Torontonian who wore thick-framed glasses and had an awkward, self-effacing air, as well as a faint, indiscernible accent that most people attributed to his Irish roots. At the time, the opaque world of cryptocurrency had unleashed a multibillion-dollar scourge of securities fraud.
Buy for others
If you're on a Galaxy Fold, consider unfolding your phone or viewing it in full screen to best optimize your experience. Credit Cards. Check out our top picks of the best online savings accounts for August Get Started! Before you apply for a personal loan, here's what you need to know.
Mark T. Williams to Bitcoin Bulls: Time Will Vindicate My Prediction
A gold rush, a bubble, irrational exuberance—or the Holy Grail? Such are the more extreme descriptions of blockchain, which in the past year has gone from being arcane tech-speak to common parlance. It is increasingly touted as a digital revolution by manifold technology startups in fields as varied as real estate, music, diamonds, insurance, marine archaeology and, yes, art.
How and where to buy Verasity (VRA) in Lao People's Democratic Republic
Try out PMC Labs and tell us what you think. Learn More. The research presented aims to investigate the relationship between privacy and anonymisation in blockchain technologies on different fields of application. The study is carried out through a systematic literature review in different databases, obtaining in a first phase of selection publications, of which 28 were selected for data extraction. The results obtained provide a strong relationship between privacy and anonymisation in most of the fields of application of blockchain, as well as a description of the techniques used for this purpose, such as Ring Signature, homomorphic encryption, k-anonymity or data obfuscation.
As a result, on Tuesday, the Nova Scotia Supreme Court granted an order for creditor protection, allowing QuadrigaCX to avoid bankruptcy for 30 days while it tries to figure out how to pay its debts. The company said that it had spent the past weeks working "extensively to address our liquidity issues," which includes locating the money its customers had deposited. As of Tuesday afternoon, its website was taken offline. His death was announced Jan. She even hired an expert, who was unable to break through the encryption to access the funds.
Vol 7 No 1 No 1 Vol 7 Volume 6. Vol 6 No 1