Unstoppable Domains Launches A Decentralized Chat Protocol

Unstoppable Domains Launches A Decentralized Chat Protocol
July 9, 2020

 

The cryptocurrency market remains range bound with slight bullish bias. Bitcoin (BTC) continues to hover around 9,300 levels. At the time of writing this article, Bitcoin was trading at $9,396, up 1.2% in the past 24 hours. Ethereum (ETH) rose 1.7% to trade at $245.48. XRP has rallied 3.3% to trade at $0.1999. Other major altcoins which have gained ground in the past 24 hours include ChainLink (LINK-$6.26, 7.5%), Stellar (XLM-$0.0850, 11.4%), Ethereum Classic (ETC-$6.49, 3.6%), Litecoin (LTC-$44.91, 2.0%), Tron (TRX-$0.0177, 2.5%), IOTA (IOTA-$0.2502, 0.6%), EOS (EOS-$2.65, 1.9%), Binance Coin (BNB-$16.95, 0.1%), Huobi (HT-$4.20, 1.1%), OKB (OKB-$5.09, 0.7%), Monero (XMR-$65.49, 0.1%), LEO (LEO-$1.23, 0.1%), Dash (DASH-$71.60, 1.5%) and Cosmos (ATOM, $3.46, 3.7%). Major altcoins which have lost ground in the past 24 hours are Bitcoin Cash (BCH-$240.64, -0.2%), Tezos (XTZ-2.56, -0.3%), Cardano (ADA-$0.1225, -1.7%) and Bitcoin SV (BSV-$186.99, -0.1%).

 

Government level initiatives

Chinese courts implement e-sealing to guarantee ownership of properties

Numerous Chinese courts have started using blockchain technology to protect property ownership with a digital seal. The latest government organization to do so is The Executive Bureau of the People’s Court in Haidian District, Beijing, which has installed a blockchain-based digital seal to guarantee ownership of a property in Chaoyang district.

With blockchain-based e-sealing in place, courts can safely oversee a property in real-time using video surveillance. In particular, if there is an attempt to modify or damage an e-sealed property, the blockchain-based platform will automatically switch on to surveillance mode and cautions plaintiffs and law enforcement authorities with a mobile message. The system will also forward a picture of the perpetrator to the concerned authorities.

Ultimately, the use of blockchain technology is aimed to retain all recorded info without any alteration by all parties involved.

 

QuarkChain joins up with the eco division of Shanxi

Blockchain focused QuarkChain has entered into a collaboration with the ecological division of Shanxi, a Northeastern province of China. Both QuarkChain and Shanxi province will jointly create an environmental administration platform on the blockchain (EGPB). The platform will be utilized by the local authorities for construction resource handling and trading.

QuarkChain revealed that construction materials are usually available in a particular zone but delivered to several places, creating a need for an efficient management platform that will assist in overseeing the distribution, while guaranteeing better use of the materials. EGPB will be used for monitoring resources across the supply chain. The network’s node operators will take care of overseeing the market.

Node operators will be made up of sand miners, transporters, traders, and other construction industry insiders. Government departments will also distribute vital information and govern resource usage and transportation.

A spokesperson of Shanxi stated that “Currently, QuarkChain’s EGPB solution has already been officially put into some pilot areas. Next step, it will be expanded to more cities and more types of resources.”

 

Private sector initiatives

Torus allows users to remit crypto via Twitter

The Singapore based cryptocurrency key handling platform, Torus, is facilitating users to remit crypto via social media platform Twitter. The facility follows the update of Torus platform to v1.72, which paves the way for sending tokens to any GitHub account even if that account is not linked to Torus crypto wallet beforehand. Established in 2018, Torus conducted a trial of ETH transactions on Reddit and Google email accounts last December. In May 2018, Torus rolled out its noncustodial key management tool DirectAuth to enhance log-in services for Web 3.0 based applications.

Torus demonstrated the facility during the launch by remitting 0.1ETH via Twitter to prominent cryptocurrency players such as Vitalik Buterin, Ethereum co-founder, Binance CEO Changpeng Zhao and also Tesla CEO Elon Musk.

Using the facility, users can establish a new Ether (ETH) wallet linked to any of the social media platforms such as Facebook, Twitch, Reddit, AppleID, Discord, Google, LinkedIn, GitHub, Line, Passwordless and Line Accounts.

 

Unstoppable Domains launches a decentralized chat protocol

American venture capitalist Tim Draper backed firm Unstoppable Domains has rolled out a decentralized chat protocol. The firm focused on blockchain-powered un-censorable websites intends to ensure privacy via a P2P network and end-to-end encryption, with the launch of “Unstoppable Chat,” or “dChat.” Contrary to mainstream chat facilities offered by social media platforms such as Facebook, dChat allows users to have total control of their messages in the form of storage and encryption on their own systems. Only a user will be able to delete or access own chat messages.

For the purpose of allowing users to have total control of their messages, dChat embeds with a user’s crypto wallet and P2P networks. For logging in to chat, users must have a private key of the Ethereum wallet. Brad Kam, the co-founder of Unstoppable Domains, explained that the crypto wallet integration intends to offer maximum privacy to users. Kam detailed that users can set up a distinct wallet for better privacy.

Kam said, “You must use an Ethereum wallet private key. That is what guarantees that no one can access the chat other than you. If you’re concerned about privacy, then create a wallet just to store your domain. You can remain pseudo-anonymous.”

Initially, the chat facility will be available solely on browsers. Soon, mobile apps will be provided with a similar facility. dChat has claimed that crypto wallet providers such as MyEtherWallet and imToken have already started backing the chat facility.

Disclaimer: Any financial trading analysis offered here is our opinion and is not intended as advice or direction for investors. We cannot guarantee the success of any trades made as a consequence of this article, and we encourage traders to incorporate a strong money management strategy to limit losses when they enter the markets. Please use this article as part of your own research before formulating strategies prior to trading.

Ian Maguire

Ian Maguire

Ian is our resident contributor to the latest going ons in the cryptomarket, keeping up to date with the latest icos and coins


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