Prometheus platform and integration between the business process and blockchain

Even though there are thousands and thousands of cryptocurrencies, we cannot say that small, medium or large enterprises have implemented the blockchain technology. The main reason is the lack of current blockchain infrastructure. There are countless real use cases where blockchain technology could significantly improve the business process, or where it could create completely new industries. But, we are not witnessing that. It is simple to expensive and time-consuming to create specific blockchains that will satisfy their needs.

Prometheus has come up with a simple but elegant, and what it seems might be a revolutionary solution. Every business is using relational databases. They are an industry standard for more than 40 years and everyone is familiar with them. Prometheus has created an MVP which enables users to connect to their databases and transfer the data to the desired blockchain. With only a couple of clicks, their data will be stored on the blockchain and it will be no longer susceptible to manipulation. They will become the users of blockchain technology and what is more important they will do it effortlessly and affordably. They can choose between the private blockchain or Ethereum, Stellar, Neo or Cardano. Even the reverse process is possible. Data can be transferred from the blockchain to a database or even to an excel sheet. Here is a video demonstration of Prometheus’ MVP that will be a foundation of their future platform:

As you can see the whole process is simple, fast and convenient. And what is important it will be affordable. Prometheus is claiming that the fee will be only $1 per 10,000 transactions.

Protection of the ICO participants

During the unimaginable hype in the second half of 2017 and in most of 2018, we have witnessed the ICO craze. Everybody was dreaming of their crypto unicorn and multiple gains. Everything was in green, and even after the 1st crash in early 2018 ICO’s haven’t stopped. Unfortunately, lots of scammers take advantage of the situation and in combination with the crash in 2018, it leads us to the current state of the crypto market where users are demoralized and there is practically no safe place. Good thing is that Prometheus is aware of the situation and they have implemented high protection of the ICO participants. According to the Prometheus website, there are two levels of protection.

The first level of protection is common and clear to most of the crypto community, and it really should be the industry standard. If the soft cap is not passed Ethereum will be returned via smart contract.

But, the second level of protection is something that has not been seen before in the crypto space. They will return Ethereum via smart contract if the soft cap is passed and if the development of the project is not going according to the road map. They have implemented an ICO functionality that any participant in the ICO can vote for an independent 3rd party supervisor who will monitor if the development of the platform is going according to the road map. If they fail to deliver they will return the Ethereum via smart contract. This shows nothing but their dedication to developing the Prometheus platform and transparency of the team.

It seems that the Prometheus is a project which has a good foundation and it is definitely a project to watch in the further months.

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Here Are 5 Things You Probably Didn’t Know You Could Do With Bitcoin

Bitcoin is the most popular cryptocurrency and while there might be a small number of people all over the world who truly understand it and what it represents, it might be safe to assume that there’s a much larger number of people who have at least heard about Bitcoin before and may have some idea, but are not very knowledgeable. The interesting thing about Bitcoin is that while some knowledge might be required, deep technical knowledge isn’t always necessary.

Bitcoin is very popular as an investment asset that pulls in very substantial annual returns. However, it is more widely used as digital money and as adoption grows, the number of things that it can be used for also increases. Here are a few interesting things you probably didn’t know you can do with Bitcoin.

Travel

If you didn’t know, there are certain travel platforms that allow prospective customers to make payments with Bitcoin. This means that if you don’t have any cash, you can still take that vacation or business trip as the case may be, using just Bitcoin as payment. Some of these platforms will also let you plan tours in your destination city and even make hotel and restaurant reservations, all with payments in Bitcoin.

Online Casino

If you are big on slot games and other casino-related activities, the good news is that you can still indulge in all of these things using Bitcoin. As earlier mentioned, the different uses for the world’s largest cryptocurrency are constantly increasing and one that is slowly gaining popularity is playing Bitcoin Games. The next time you want to spend some money at an online casino, consider spending Bitcoin instead.

Real Estate

Many real estate companies all over the world now accept Bitcoin payments for purchases. This method is especially common as a method for individuals who want to buy property outside their country of residence and do not want to worry about how to transfer fiat or the heavy charges that usually come with cross-border transactions.

In addition to this, some real estate firms are also starting to tokenize their property on a blockchain which not only ensures transparency but also makes business transactions a lot more efficient.

Philanthropy

Believe it or not, there are some charitable organizations that allow interested donors to make their donations using Bitcoin. Receiving crypto donations makes it a lot easier and faster for these organizations to get the help that many of them need. Find a charity organization that fights for a cause in which you’re in full support and sends them some Bitcoin today.

Investment

Sometimes, just spending some money and holding Bitcoin is enough. The asset has returned more than 100% so far this year alone and has returned several thousand percent since inception. Bitcoin is a very volatile asset which is both a blessing and a curse. As with any investment, there’s the ever-present risk that you can lose your money but it’s also very possible for you to make substantial profits in no time.

If you’ve been following Bitcoin, you can tell that even when there’s a bear market, there is always the possibility that things pick up as they almost always do. Investing in Bitcoin can be a wise decision. However, if you want to go down this route, you would need to spend a lot of time doing some research on your own to learn as much as you can, reducing the risk of less. Do not begin without research.

The above are just a few things that you can do with Bitcoin. Can you think of more?

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China Promotes Ethereum To Second Position On Blockchain Ratings After Istanbul Hardfork

China’s Center for Information and Industry Development (CCID) has published a new list which ranks 35 cryptocurrency assets. The government agency’s list has bumped up Ethereum’s position from the third position to the second.

EOS is at the number one position where it was in the last ranking with TRON (TRX) at number 3. Bitcoin (BTC) was not featured until the ninth position while Ripple’s XRP was at number 18.

The new publication is the fifteenth one and was released a few days ago on Dec. 6. Ethereum’s position was pushed up most likely because of the changes from its recent Istanbul hard fork upgrade. There was considerable build-up to the hard fork and it has also gotten quite the cheer. Also, a few major exchanges including Coinbase, Binance, and Bitfinex, have all announced support for the new Istanbul.

Interestingly, cryptocurrency in China is still widely unsupported with several reports of the country trying to crack down on the sector and many other crypto-related businesses. This is amidst China’s popularized endorsement for blockchain technology by President Xi Jinping.

China has also announced that it will soon begin testing its digital Yuan with some banks and telecoms firms.

Image Credits: Pixabay

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