Daily Cryptocurrency News – 21th October 2018

Here are the most important cryptocurrency news of 21 October 2018:

Icarus Of Cardano [ADA] Ready to be Adopted; IOHK Confirms Success of the Audition

Input-Output Hong Kong (IOHK) has finally given the green light to Cardano’s smart contracts feature Icarus. Kudelski Security led a security audit, and they conclude that the Icarus wallet is problem free and ready for adoption.

This company that led the security audit is a third-party and independent auditing company. They have contributed to the IOHK on several occasions.

IOHK has opted for an external audit. The reason is that they think internal audits can bypass critical aspects of identifying security issues. Therefore, IOHK developers can resolve the problems identified during the product launch audit. The company noted that this guarantees their customers and clients the safest portfolio they can offer.

Announced in August, the Project Icarus is a reference implementation for lightweight wallets.

Lightweight wallets for mobile devices are useful due to the big space that can take downloading an entire blockchain. Also, entity Emurgo’s lightweight wallet, Yoroi accompanied Cardano’s mainnet launch.

IOHK No Longer Works with Cardano Foundation

Also, earlier this month, IOHK said they would no longer work with the Cardano foundation. They said that they were dissatisfied with their decisions and operations.

IOHK CEO Charles Hoskinson revealed the issues from IOHK with the Cardano Foundation publicly. He also explained the reasoning behind the decision to part ways with the Cardano Foundation.

The center of their issues is the decision of Cardano Foundation director Michael Parsons to reduce the board to 2 members, of which he was one.

You can watch the full video here:

Oyster Receives New Development Update October 19 – New UI, Rev2 Updates and more

Oyster Storage User Interface Update

Today the Oyster development team has released a new UI update. The latest update allows users to close their browser after the upload of their file’s chunks. Also, they don’t need to stop the upload from completing.  Now a user can leave the page and return at a later time to check the upload progress of their file on the platform.

Before, Oyster Storage UI implemented this feature, however. The progress amount that was displayed the user was not always entirely accurate. Since then, the development team has successfully fixed this issue. Also, they have decreased the number of the network requests made by the client when the upload progress screen is open in the browser. Fewer network requests mean a more responsive and snappy user experience when using Oyster Storage.

This new UI update has separated the upload progress into two stages, as you can see on the images.

Rev 2 Updates and S3 Updates

The development team has continued to integrate the changes necessary to implement Rev 2 into Oyster. This includes removing some of the redundant treasure- related logic that will no longer be needed. Moreover, many of the back-end unit tests will be updated.

Furthermore, the team focused on restructuring the library to make the use cases enabled by Rev 2 simpler to apply in practice. They also worked on improving test quality and coverage on oyster-streamable.

Finally, the team also worked on adding tools for stubbing out external requests to IOTA.  They have also been focusing on establishing testing principles that will eventually implement to both the web interface and web node. Applying these changes will improve Oyster Storage’s code reliability.

Furthermore, the team is currently breaking the Rev 2 changes into smaller chunks, to make Rev 2-related pull requests easier to review.

To check the full article, you can go to this link

New Stable Coin on Stellar and Ethereum- FDIC Insured up to 25 Million

A new stable coin on Stellar and Ethereum has been released with the name of Token X.

Unlike other stablecoins, Token X is 100% backed by fiat currency, independently audited and FDIC insured up to USD 25 million.

All transactions between fiat and the Token X stablecoin are screened and can only be performed by individuals or corporations that have passed the Know Your Customer process.

Token X supports all major currencies on Stellar and Ethereum.

The stablecoin also has a mobile app which would make transfers more secure and more accessible.

For more information, you can visit their link here.

Kenya Will Use Blockchain Technology To Bring Affordable Housing

Source: Influencive

Kenya’s government has announced that it would be using a blockchain based solution to bring affordable housing of citizens.

The government noted that it is planning to use blockchain technology to distribute 500,000 housing units. They will do this to fight corruption which damaged the country leading to underdevelopment and a sovereign rating downgrade.

The Natural Housing Fund under Finance Act 2018 will finance this project. Also, 3% of the funding would come from the following sources:

  • Borrowing revenue generated from rental obtained from the current housing stock.
  • Employers and employees
  • Issuance of securities to investors.

Hinga said the government needs to raise $59.4 million per month to unlock the supply side of projects.  He also acknowledged that houses are expensive, making it difficult for ordinary citizens to own properties.

The government will build houses that cost between $3,000 and $30,000 in different areas already identified by the state.

Kenya is one of the most corrupt countries in the world at this moment. Blockchain technology has the potential to become a solution to Kenya’s corruption, it will be great if blockchain technology has a success in helping the country.

If you missed news yesterday, you can check them here: Daily Cryptocurrency News – 20 October 2018

Image Source: Flickr

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