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U°OS Network — a Universal Portable Reputation System — Launches Beta on May 15, 2019

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U°OS, a blockchain protocol that translates economic and social actions into reputation, proposes a universal portable reputation system and aims to become the standard on the Web. Adjustable to any e-commerce, social media, review platforms, and any network in general, the U°OS Network is underpinned by a unique Delegated-Proof-of-Importance consensus algorithm, developed in-house, and based on NCDawareRank. After being in research and development for over a year, U°OS is launching the public beta on May 15, 2019 with the top EOS block producers on board.

The emergence of distributed protocols has taken the first step in creating the Web 3.0. U°OS are moving towards a true peer-to-peer interaction without an intermediary that holds the keys to their digital selfhood. While cryptocurrencies enable decentralized financial transactions, infrastructure protocols let them run decentralized apps on the chain, the truly peer-to-peer social communications, reputation, and identity systems have just started showing their green shoots.

“Centralized services have a biased incentive structure for interpreting reputation data and disproportionate power to modify it. We are not controlling our reputation — it is confined to a single platform and context, thus cannot be detached and transferred to another place. This translates into a time-consuming task to understand who is truly behind the digital avatar of an individual or an organization. The absence of a universal and distributed reputation system is the reason why the decision-making process is slow and costly” — John Sneisen, two times best-selling author, monetary history expert, and U°OS Advisor.

The U°OS reputation model enables people to interact in the digital environment as sovereign individuals, solving the problem of not having complete and unequivocal ownership of one’s digital selfhood and network influence. U°OS allows digital entities — individuals or organizations — to have a unified reputation for a natural decision-making process about the trustworthiness of the peer. The U°OS reputation is multi-context, transparent, and distributed.

The key characteristics of the U°OS reputation system are:

  • Transparency — the blockchain-recorded data is public and increases trust to a digital entity;
  • Universality — the system can be integrated into any existing application via API and OAuth;
  • Portability — algorithmic operation on the public ledger without belonging to any centralized authority;
  • Privacy-friendliness — users are not required to reveal their identity to use the system;

“Despite being seemingly complex, U°OS is already neatly packed into user-friendly interfaces and APIs to make the user experience as smooth as possible for casual users as well as developers” — Andrew Perepelitsa, U°OS Head of Developer Relations.

The U°OS beta launches with U°Community — a decentralized application to run Decentralized Autonomous Communities (DAC) and Decentralized Autonomous Communities (DAO). The beta will also see the very first plug and play case: integration with the U°Today, a news, research and educational agency covering the blockchain industry and new generation technology.

U°OS Network:

U°OS Network is a blockchain project bringing the Universal Portable Reputation system to the Web. U°OS Network has been in development since November 2017. Visit U°Community to try U°OS network in action. See the U°OS Network page for the project overview.

 

SOURCE U°OS Network

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Chainalysis Launches First Actionable Real-Time Alerts for Suspicious Transactions Across 15 Cryptocurrencies

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Chainalysis, the blockchain analysis company, today announced the launch of suspicious cryptocurrency transaction alerts in Chainalysis Know Your Transaction (KYT), the real-time anti-money laundering (AML) compliance solution for monitoring cryptocurrency transactions. It is the first compliance alerts solution available across 15 cryptocurrencies.

Chainalysis KYT alerts are designed to help cryptocurrency businesses and financial institutions mitigate exposure to regulatory and reputational risk by helping compliance teams focus on the most urgent activity and enforce compliance policies while better allocating resources.

“As lawmakers and regulators focus their attention on the industry, it is more critical than ever that cryptocurrency businesses demonstrate compliance best practices,” said John Dempsey, VP Product, Chainalysis. “Every minute counts when managing exposure to sanctioned entities, hacked funds, darknet markets, and other illicit activities, which is why Chainalysis is investing in fast, actionable alerts to help our customers mitigate risk across cryptocurrencies.”

Chainalysis KYT has always provided real-time transaction monitoring for large volumes of cryptocurrency activity to identify high risk behavior, and now alerts are generated whenever a transfer involves a risky counterparty and crosses a value threshold. Alert levels include Severe, High, Medium, and Low, and are based on factors such as category, service, direct versus indirect exposure, direction of funds, and amount. Alerts are available for all 15 cryptocurrencies supported by Chainalysis, including Bitcoin, Ether, Bitcoin Cash, Litecoin, and top stablecoins and ERC-20 tokens such as Tether, Maker, and Dai, with additional cryptocurrencies coming soon.

With alerts functionality built directly into the user interface and API, cryptocurrency businesses and financial institutions can keep track of, investigate, or take action on risky transfers. Additionally, customers can customize risk parameters based on their own business policies to help allocate resources accordingly.

“As a New York Trust company we are required to monitor transactions on and off our platform,” said Michael Breu, Gemini’s Chief Compliance Officer.  “Tools like KYT alerts, which provide real time and ongoing blockchain analysis, coupled with Gemini’s own compliance policies, help us meet our regulatory obligations.”

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For the First Time, Huobi Token Is Now Usable as an eCommerce Payment Method

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Huobi is pleased to announce that Huobi Token (HT) can now be used to purchase art, apparel, hardware, event tickets and more from the eCommerce and crypto news platform FomoHunt. This marks the first time HT can be used for eCommerce by the general public.

While HT can be used for all merchandise on the site, offerings at FomoHunt also now include exclusive Huobi-branded merchandise.

“Our partnership with FomoHunt allows us to do two big things at once,” said Helena He, Head of Global Operations. “First, it’s a big step in expanding HT’s usefulness outside our direct ecosystem and making it more accessible to the general public. Second, it gives members of our community direct access to Huobi-branded merchandise, which is something many have repeatedly been asking for.”

FomoHunt co-founder, James Lawrence, expressed optimism about the new partnership.

“Being able to work directly with Huobi is an amazing opportunity. We are working together to allow our community users to use Huobi Token and make real-world purchases for clothes, art, FomoHunt subscriptions, event tickets, and even mining hardware. FomoHunt looks forward to future collaborations with Huobi.”

Huobi has made developing HT a priority over the past eight months. For example, Huobi Prime and Huobi FastTrack, Huobi’s innovative premium coin launch platform and its new coin listing program, which respectively launched in March and June this year, both use HT as their main token of exchange. In July, Huobi implemented a series of tiered trading fee discounts for users based on HT holdings.

Founded in 2018 as an alternative to the disparate information found across the internet, FomoHunt is a discovery portal into the world of blockchain projects, founders, events, products, and news. FomoHunt aims to provide an easy and streamlined portal for blockchain newcomers and experienced veterans with unrivalled project information and up to date information.

To learn more about Fomohunt, go to: https://www.fomohunt.com/marketplace/

To learn more, contact media@huobi.com

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Fiat Withdrawals Available With TUSD and PAX

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Stablecoin partners facilitate fund transfers to personal bank accounts easily.

Crypto.com, the pioneering payments and cryptocurrency platform, is pleased to highlight two fiat withdrawal solutions via TrueUSD (TUSD) and Paxos Standard (PAX) stablecoins for Crypto.com App users.

Crypto.com has recently entered a partnership with TrustToken and Paxos Standard for Crypto.com Chain, which will allow merchants to get paid in USD.

As an extension to this partnership, Crypto.com App users can now redeem their TUSD or PAX 1-to-1 against USD, which will be wired directly to their personal bank accounts. This is an appealing use case for App users who want to monetize their crypto gains, holdings, or Crypto Credit loans.

To redeem stable coins against USD, users can do so via the TrustToken or Paxos Standard platform. For further instructions, please click here.

Kris Marszalek, Co-founder and CEO of Crypto.com said, “The team is committed to making efficient fiat withdrawal available to customers. As we work on more traditional solutions, we are pleased to share two important supporting solutions from our stablecoin partners.”

Tory Reiss, Co-Founder of TrustToken said, “We are excited to be deepening our collaboration with the Crypto.com team. Finding a reliable way to move fiat on and off their platforms continue to be a headache for crypto companies. At TrustToken, we are continuing to double down on this use case by building out strong compliance practices and adding additional payment rails.”

Scott Simpson, VP of Strategic Partnerships of PAXOS said, “We believe that building a vibrant ecosystem for PAX is crucial for increasing use in consumers’ daily lives. Our partnership with Crypto.com makes it easier for consumers to benefit from their crypto holdings and were excited to make this important functionality live.”

DISCLAIMER: THE STABLE COINS AND USD REDEMPTION IS HANDLED AND PROCESSED BY TRUSTTOKEN OR PAXOS STANDARD, CRYPTO.COM IS NOT RESPONSIBLE OR LIABLE FOR ANY DISPUTE ARISE FROM SUCH ARRANGEMENT.

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