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PR: DIWtoken.com – Alpha Launch on Testnet Before the End of ICO

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

It has already been three weeks since the launch of DIW’s ICO with just one week left to go – just enough time to seize this rare opportunity and join this unprecedented project! The entire team has been on constant alert for months now with quite a few kilos of coffee consumed on many endless meetings and sleepless nights! It has been a unique and amazing experience thus far and everyone is looking forward to the next stage that the project is about to enter.

There is a contrast of emotions though within the team. Excitement regarding its own project, but disappointment regarding many others and the industry in general. Unfortunately, ICO projects have made a bad name for the industry and for blockchain technology in general. Some have labelled cryptocurrencies, and especially ICOs ‘Ponzi schemes’, ‘fraudsters’, ‘mothers of all bubbles’, ‘criminal cyber-terrorism’, ‘greedy scams’ and many more.

The underlying reason is that most of the teams behind ICOs are just after quick money. They have no vision for the future, nor have they made any solid, or well thought out plans on how to proceed and how to implement the latest technology within their proposed product.

Furthermore, the teams who have actually made plans claiming to incorporate ground breaking blockchain technology, actually don’t. Blockchain is only utilised marginally and is not included in the core of their product. Blockchain is used just as an excuse that enables these teams to proceed with an ICO.

Additionally, it has been proven that the teams behind most ICO projects are inadequate for the job, some not even including people remotely associated to blockchain technology.

DIW is different. The team behind DIW always had its sides on developing the project – it was never about the funds. It was all about the project; about breaking new technological ground, being pioneers.

With a highly skilled group of people, the DIW project is bound to succeed. Our coders, cryptographers, solidity developers as well as front end developers, are highly skilled and motivated. With a proven track record, our team was focused on developing the project even before the start of the ICO.

Due to all of this labour, we are now highly excited to announce the release of our Alpha edition on testnet.

Getting to the nitty-gritty details everyone has been waiting for:

Alpha DIW Platform on testnet
By proceeding with uploading its Alpha on a testnet, DIW is providing its early adopting members with the opportunity of joining its team in the development of the project. The testnet allows the creation of a virtual account giving the opportunity for everyone to use the Alpha edition of DIW’s product for free via a demo account and without the need to save actual sensitive information for it to work. The first function of DIW’s vault that is to be released, is that of the password manager. The team will be releasing the Alpha edition of its product utilizing the basic interface design proposed within the DIW whitepaper. Additionally, parts of the code will also be released on GitHub. Please keep in mind that part of the code’s core will be hidden for now due to the very early stage that the project is in right now. Moreover, please note that the Alpha edition, is being developed on basic technology that is currently available to the team. More advanced technology will be incorporated as the project along with technology progresses. Further enhancements will be made via the incorporation of partner technology such as that developed by Ties.DB and the Raiden Network as well as that of future partners.

All of DIW’s community members are welcome to put the alpha edition of the vault through its paces, keeping in mind that it’s a product in development. The team is aware that the alpha will be buggy at first, so your understanding and patience will be highly appreciated. Please do not report back any issues for now. Using the alpha version at first, will enable you to become supporters of the DIW Blockchain revolution!

As the team feels that the project’s supporters should also be included in its development, since they will be making up the bulk of its users, DIW plans to release a ‘Bug Report Program’ that will award all of its contributing participants with DIW Tokens depending on their involvement and level of assistance in the development of the project. Further details will be released regarding this program in due time, including how to gain approval in order to get on-board.

Main points behind the coding of the platform:
– The team has used the most proper and professional coding available today to ensure the best performance, optimization and efficiency, making sure that its product is future proof as well as able to be rapidly developed.
– Trusted technologies have been utilized to create our decentralised securely encrypted storage system, such as the Ethereum platform and operating system as well as the IPFS protocol and network, due to their proven capabilities.
– For secure and efficient encryption of the data, the team opted to incorporate algorithms such as the RSA & AES.
– Furthermore, the team has used a ‘Functional programming’ paradigm in the design process assuring the code’s scalability, upgradability and optimisation.

How the DIW Storage System Works

Account Creation – 1st Step
1. The user will be creating an account on the DIW network
2. The user will then receive their ‘private’ and ‘public’ keys

DIW Data Encryption Method
1. The system creates a random number (‘secret’) in the background.
2. The user’s client software encrypts via RSA algorithm the ‘secret’ utilizing the user’s ‘public key’ (‘secret’ + ‘public key’ = ‘encrypted secret’).
3. The client software then also encrypts the user’s actual data via AES algorithm utilizing the ‘secret’ as the required data encryption / decryption password (‘secret’ acting as password + ‘data’ = ‘encrypted data’).
4. The resulting ‘encrypted data’ (now having been converted to a single file) is then sent to the IPFS network for decentralized storage. In turn, the IPFS network returns an SHA hash file with the location of the file within the decentralised network.
5. The client software then sends the location of the SHA hash file to the DIW Ethereum contract for storage in relation to the specific user.
DIW’s contract, running on Ethereum network, then seals the SHA file’s location. Blockchain technology ensures that the stored SHA hash file is permanent without any modification or tampering possibilities. The SHA hash file acts as proof regarding the authenticity of the original ‘encrypted data’ stored.
6. Lastly, the ‘encrypted secret’ file is sent directly to the DIW Contract so that it may also be sealed by the Ethereum network.

DIW Data Decryption Method
1. The ‘encrypted data’ file is downloaded to the client device from the IPFS network.
2. The ‘encrypted secret’ file is also downloaded as it is necessary for data decryption.
3. The ‘encrypted secret’ is then decrypted back to ‘secret’ via the utilization of the user’s ‘private key’.
4. The ‘encrypted data’ is then decrypted back to our original data by utilizing ‘secret’ acting as the decryption password.

DIW Data Share Method
1. The ‘secret’ file is encrypted utilizing the Second User’s ‘public key’ with the resulting ‘encrypted secret’ file being provided to the Second User.
2. The Second User then receives the location of the ‘encrypted data’ file within the IPFS network.
3. Finally, the Second User goes through the ‘Data Accessing Method’ described above.

That’s all regarding the release of the initial technical details for now. Ongoing support will be provided through DIW’s communication channels and everyone is welcome to proceed with providing the team with their queries and suggestions.

These are exciting times indeed. DIW wishes to thank all of its supporters for joining in and enabling the fruition of its project. Furthermore, DIW invites everyone that hasn’t joined the project yet for any reason to do so now, while the ICO lasts for privileged access to the project.

Contact Email Address
contact@diwtoken.com
Supporting Link
https://diwtoken.com/

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: DIWtoken.com – Alpha Launch on Testnet Before the End of ICO appeared first on Bitcoin News.

The post PR: DIWtoken.com – Alpha Launch on Testnet Before the End of ICO appeared first on Crypto Currency Online.

source https://cryptocurrencyonline.co/pr-diwtoken-com-alpha-launch-on-testnet-before-the-end-of-ico/

Five Firms Hit by ‘Crypto-Sweep’ in Alabama as Regulators Step up Operation

Cease and desist letters have been sent to five crypto companies operating in Alabama, as part of the ongoing “Operation Crypto-Sweep.” The campaign, led by the North American Securities Administrators Association, is targeting ICO projects and blockchain startups suspected of fraudulent activities and violations of existing securities laws. Actions have been taken already by NASAA members in a number of states and provinces in North America.

Also read: Nearly 1 in 5 Offerings Accused of Fraud, Bermuda Passes Regulations, Thai SEC Holds Hearing

Three LA-Based Companies Among the Targeted

The Alabama Security Commission (ASC) has recently taken enforcement actions in five investigations as part of “Operation Crypto-Sweep.” The international crackdown on fraudulent Initial Coin Offerings (ICOs) and crypto-related investment products is coordinated by the North American Securities Administrators Association (NASAA), a voluntary organization whose membership consists of 67 state, provincial, and territorial securities administrators in the US, Canada and Mexico, of which the ASC is also a member. The Commission has issued a total of five cease and desist orders “to protect Alabamians”, according to an official announcement.

The respondents are ICO organizations that have been targeting residents in more than one state. That’s why Alabama regulators have teamed up with their colleagues from Texas and New Jersey to go after the firms implicated in illegally soliciting investors. “Fraudulent activity involving ICOs and cryptocurrency-related investment products is a significant threat to Main Street investors in Alabama,” said ASC director Joseph Borg. The Commission is “committed to swiftly and effectively protecting investors from schemes and scams involving these products,” he added, noting that the measures taken are just the tip of the iceberg.

Cease and desist letters have been sent to three Los Angeles based companies. Extrabit Ltd., a purported crypto mining operation, offered through an ad the project’s EXB token at half price, conducting, according to regulators, an illegal and unregistered securities offering. Potential investors were told they had to spend $20,000 in the presale and expect the tokens within 48 hours. A 185 percent quarterly return was promised to those keeping a constant positive EXB balance. Returns were said to come from mining bitcoin, monero and zcash. The second firm form California, Leverage, has advertised itself as a crypto lending platform offering to investors a variable, daily interest. This case is again about an unlicensed security, the ASC said. Pool Trade is the third sanctioned company from LA.

Platinum Coin, another of the targeted crypto businesses, from Miami, Florida, has been caught offering investors an annual return of at least 320 percent. It has been issued with cease and desist order based on the same accusations – conducting sales of unregistered securities and making unrealistic promises. The fifth recipient of a cease and desist letter is an entity that purports to conduct business as an Internet-based escrow company. According to the ASC announcement, Chain Group Escrow Service is based in Kirkland, Washington.

Regulators Across North America Join “Crypto-Sweep”

Regulatory authorities in other states have also taken similar actions against dubious crypto businesses. The blockchain firm Shipchain, an operator of an etherium-based logistics platform, has received a cease and desist order from the Office of the Attorney General of South Carolina. The startup has been trying to sell its Shipcoin tokens without proper registration in the state, advertising its project to local investors. The state’s legislation treats investment contracts as securities and the tokens should have been registered as such. A permanent cease and desist order has been delivered to a company in neighboring North Carolina – Power Mining Pool. Another firm, Adosia LLC, has received a consent order in the state.

According to NASAA’s website, cease and desist orders and letters have been sent so far to crypto and blockchain businesses in the following states: Missouri, Texas, Colorado, Maryland, New Jersey, and Ohio, as well as in the Canadian provinces of Quebec, British Columbia and New Brunswick.

“Operation Crypto-Sweep” is coordinated by NASAA which has united the efforts of more than 40 state and provincial securities regulators in the US and Canada for a coordinated series of investigations into ICOs and crypto-related investment products. There have been more than 70 inquiries and investigations so far, as well as 35 pending or completed enforcement actions since the beginning of May. The campaign was recently applauded by the chairman of the US Securities and Exchange Commission (SEC), Jay Clayton, as news.Bitcoin.com reported.

Do you think the actions undertaken by NASAA members will limit fraudulent activities in the crypto sector? Share your thoughts in the comments section below.

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The post Five Firms Hit by ‘Crypto-Sweep’ in Alabama as Regulators Step up Operation appeared first on Bitcoin News.

The post Five Firms Hit by ‘Crypto-Sweep’ in Alabama as Regulators Step up Operation appeared first on Crypto Currency Online.

source https://cryptocurrencyonline.co/five-firms-hit-by-crypto-sweep-in-alabama-as-regulators-step-up-operation/

Crypto Roundup: Bithumb Ban, Pseudo-Mining and Falling Market Caps

It has been an active start to the week for the blockchain community, as news of institutional adoption, blanket bans and a new internet-less cryptocurrency captured headlines. Meanwhile, crypto assets continued to sink, with Ethereum falling as much as 14% overnight. Cryptocurrency Market Falls to Six-Week Low Digital currencies shed $14 billion in combined market […]

The post Crypto Roundup: Bithumb Ban, Pseudo-Mining and Falling Market Caps appeared first on Hacked: Hacking Finance.

The post Crypto Roundup: Bithumb Ban, Pseudo-Mining and Falling Market Caps appeared first on Crypto Currency Online.

source https://cryptocurrencyonline.co/crypto-roundup-bithumb-ban-pseudo-mining-and-falling-market-caps/

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