ContractNet – At the Intersection of Blockchain, IOT & Smart Contracts

Bitcoin Press Release:  ContractNet is a new public, permissionless blockchain which its soul purpose has been built for the storage and sharing of IoT data streams. Providing its users with a platform to host their businesses, using blockchain, smart contracts and IoT technology.

February 28th, 2018. Hong Kong: In the current  technical spectrum, certain challenges have arisen such as scalability, speed and latency, coding errors, management, monetization options for all participants and creating the value for the underlying cryptocurrency. At the Consensus 2017 Blockchain conference in New York, a well known car company described a roadmap for developing a Blockchain-based autonomous vehicles.

The company’s spokesperson explained that to perfect this software, a trillion miles worth of data would be required for their machine learning algorithms. At that the car company had accumulated several million miles worth. If it were made possible to access similar data from competitors and to share this data, the target could be reached. This could benefit the industry as a whole.

Blockchain will solve the problems with ownership and integrity of data and credibility of vendors. Smart contracts can set up the conditions for sharing and payment. An internal currency can provide for the monetization of data. IoT devices can provide data streams to be shared. The IEEE (Institute of Electronics and Electrical Engineers) has defined a comprehensive list of standards that encompass the IoT.

The current marketing problem is attracting IoT device owners, developers, miners and adopters to the platform.

The ContractNet Solution

ConnectNet is about to redefine the way we tackle these issues, taking a number of different decentralized technologies, and combine them into a hybrid solution that addresses all the problem areas. Using separate storage from the blockchain.

The first solution is to separate the storage from the blockchain, and implement their own unique virtualchain, as an intermediary between that and the storage layer. The primary use of the ContractNet Blockchain is for transactions, execution of smart contracts and storage of access control data. With Data being structured into streams, individual sensors will provide each stream of data. Each stream will have a clearly identified owner.

ContractNet proposes to optimise IPFS (Interplanetary File System) technology for this storage. The data stream will be encrypted using a key generated from the virtualchain, being stored using the same stream ID committed to the blockchain.

Compared with storing data on the blockchain will work out to be 2,000 – 8,000 times cheaper and could eventually be cheaper than cloud storage. Benefiting the user indefinitely.

The ContractNet VirtualChain.

ContractNet proposes to use a variety of new technologies to address the underlying challenges in blockchain itself, and in smart contracts. The ContractNet blockchain is a fork from Ubiq and Ethereum. In its initial formulation, the ContractNet blockchain targeted a block-time of about 90 seconds. A capacity to process 6,000 transactions per block.

ContractNet using the Flux Difficulty Algorithm to prevent centralized attacks, dynamically adjusting the difficulty when there are rapid changes in the hasrate. At the same time, the flux algorithm also ensures more consistent block times during volatile/variable hash rates.

As smart contracts requires processing and exists over time, it is vulnerable to attacks and confidentiality and integrity issues. Use of the FSolidM technology will to a large extent remove these problems..

In addition to this, the ContractNet platform uses the native token CNET as the medium of exchange on the platform also allows for monetization options for participants. Miners are able to earn CNET in return for their computational power in the Proof-of-Work consensus mechanism underpinning the blockchain. While miners can earn additional CNET for providing storage capacity on their computers. IoT device owners will be able to sell their streams of data to developers or other users.

As Developers are given access to an open source, full optimized platform on which to develop and monetize their own Dapps. These Dapps provide physical input into the Blockchain.

About ContractNet

The ContractNet philosophy and reason for existence is to be the global exchange of IoT data, and the platform for some of the most exciting applications on the decentralized web. Providing a solution to many of the current problems associated with combining blockchain, smart contracts and IoT technologies.

Media Contact:
Name: Ravi
Location: Hong Kong
Email: support@contractnet.com

Visit the Website: https://contractnet.com/
Read the Whitepaper: https://contractnet.com/ContractNet.pdf
LinkedIn: Amie Lin | Darren Wong
Follow on Twitter: https://twitter.com/contractNetlabs
Subscribe on Facebook: https://www.facebook.com/ContractNet
GitHub: https://github.com/ContractNetLabs/go-ContractNet
Chat on Telegram: https://t.me/joinchat/H-NI0ETe2ac73ROtpIQ64Q
Medium: https://medium.com/@contractnetlabs

ContractNet is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest

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Link: ContractNet – At the Intersection of Blockchain, IOT & Smart Contracts

Morpheus Labs Raises 6,200 ETH in Private Sale and Announces New Partnerships

Bitcoin Press Release: Singapore Blockchain-based platform Morpheus Labs has recently completed their private sale, raising an outstanding 6,500 ETH, getting ready to launch their main Token Generation Event on the 9th of March. Incentivizing early supporters with attractive bonuses.

28 February, 2018. Singapore: Morpheus Labs, a Singapore-based Blockchain-Platform-As-a-Service (BPaaS) for enterprises, has officially announced a successful raise of 6,200 ETH in their private sale that lasted just two-weeks and ended on February 24th. The sale concluded a highly-anticipated soft launch that brought in over $30 million in written commitments from supporters globally on a limited invitation basis.

Following the private sale, Morpheus launched its public token generation event (TGE) that is broken into three stages. The first stage is now live and includes a 35% bonus through March 9th. The second stage offers a 20% bonus from March 9th through March 23rd. The final stage will not include a bonus and will run through April 15th. The project is incentivizing early supporters with attractive bonuses.

Morpheus Co-Founder Chuang Pei-Han explains,

“We are very excited and thankful for our community and early supporters. The private sale was a true testament of our product, team, and strategic vision to bring value to the blockchain industry by making blockchain more accessible for enterprises globally.”

Morpheus is targeting a hard cap of $25 million in its token sale and minting a total of 1 billion MITx tokens, 250 million of which will be offered in the token sale. Contributions can be made using Ethereum, at a rate of 1 ETH for 8,000 MITx tokens.

Morpheus Labs Announces  Strategic Partnership with Momentum Works

On February 26th, Morpheus Labs signed an MOU with Momentum Works to spearhead a join collaboration on ICO projects in Asia. Momentum Works is a Singapore-headquartered venture builder with projects covering Southeast Asia, India, Middle East & Latin America.

Momentum Works also consults for stakeholders who want to adapt tech business models in key promising markets. Backed by influential tech veterans, the venture builder has the advantage of a strategic view of the technological ecosystems in China and other parts of Asia.

The collaboration between the two parties promises to yield synergies with the combined competencies of deep technological expertise and industry access. It will also allow Morpheus Labs the access to revenue generating companies and some of the best talent in the region.

Combined, the partnership marks an important strategic alliance within the blockchain ecosystem.

About Morpheus Labs:

Morpheus Labs is an enterprise-grade blockchain platform as a service with an additional blockchain app marketplace that enables organizations of any size, to rapidly design, deploy and operate distributed ledgers. The company is founded by a cross-functional team that has a combined 70 years’ experience in artificial intelligence, blockchain, mobile application, cybersecurity and IoT across Europe and Asia.

Morpheus Labs BPaaS works both as a B2B platform for businesses to rapidly prototype their ideas and projects, and B2C model for freelancers or individual developers. The platform will support distributed hosting for blockchain network nodes and off-chain applications while providing a centralised platform service for developing, managing and regulating blockchain networks.

Media Contact:
Name: Jared Polites
Location: Singapore
Email: jared@morpheuslabs.io

Visit the Website: https://token.morpheuslabs.io/
Read the Whitepaper: https://token.morpheuslabs.io/assets/documents/WhitePaper.pdf
Chat on Telegram: https://t.me/morpheuslabs
Follow on Twitter: https://twitter.com/morpheus_labs_
Subscribe on Facebook: https://www.facebook.com/morpheusblockchain
LinkedIn: https://www.linkedin.com/company/27162662/
As seen in: Yahoo News | e27 | Deal Street Asia

Morpheus Labs is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest

About Bitcoin PR Buzz -Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 5 years. Get your own professional Bitcoin Press Release. Click here for more information about Bitcoin PR

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Earnings Results: Square wants to build out app that accepts bitcoin, but spending plans stall stock

‘Bitcoin, for us, is not stopping at buying and selling,’ CEO Jack Dorsey says after Square earnings beatSquare posted an earnings beat Tuesday, but the payments company’s forecast for the current quarter was hit by plans to invest in initiatives like Square Cash, which has garnered buzz for its bitcoin functionality.
Source: Marketwatch Bitcoin News
Link: Earnings Results: Square wants to build out app that accepts bitcoin, but spending plans stall stock

In One Chart: BlackRock: bitcoin ‘should only be considered by those who can stomach potentially complete losses’

Cryptocurrencies are far more volatile than stocks were even in the financial crisisEvery investor in bitcoin is well aware of the stomach-churning drops the digital currency or its rivals can see on a regular basis, but few may fully appreciate just how big the swings are compared with other widely used asset classes.
Source: Marketwatch Bitcoin News
Link: In One Chart: BlackRock: bitcoin ‘should only be considered by those who can stomach potentially complete losses’