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IOTA & Ledger Collaboration: What are the gains?

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IOTA and Ledger: Ledger will provide access to the digital coins in a secure high-tech chip by integrating with the wallets of IOTA Trinity and Romeo.

Some interesting developments are happening with IOTA Foundation, which is a non-profit organization, aligning with Parris-based security and infrastructure solutions provider for digital coins, Ledger. The two have come together to integrate IOTA’s digital coins with security firms for cryptocurrency’s hardware wallets. This is a crucial development considering that hackers have stolen more than $1 billion in the current year itself from the virtual assets market.

 

Protect Private Keys

In a blog post, the foundation said that the Nano S hardware wallet from the Parris-firm would allow users to protect private keys. Ledger will provide access to the digital coins in a secure high-tech chip by integrating with the wallets of IOTA Trinity and Romeo. This will also detach the key of the user’s account from their smartphone, as well as, computer. This is done by offering an additional security layer thus preventing hackers to hack the users’ accounts.

As far as users are concerned, they would have to authorize transactions on their Nano S hardware wallet. This comes as part of the procedure for heightened security as customers attach much importance to the issue. This is also quite evident when Ledger CEO, Eric Larcheveque, pointed out that its primary focus centered on offering not only the highest quality but also the security levels in both the enterprises. He believes that the collaboration between the two has established synergy immediately on creating compatibility features.

 

Manage Tokens

IOTA CEO indicated that the feature enables users to get access for storing, as well as, managing its digital currencies on the Parris-based firm’s devices. The Nano S wallets are created through a unique operating system. This is treated as BOLOS and is combined with a security chip. The company disclosed that the chip, which is an EAL5+ certified one, is being used in the wallet is much similar to the one used for passports or credit cards.

The wallet is not only a tamper-resistant platform but also have the capability of hosting data and apps securely in line with the pre-authorized security and rule requirements. Therefore, it would not be an easy task for anyone to hack due to the secure chip. However, even amateurs could access if it is generic miscontrollers. IOTA is known as an open-source distributed ledger technology (DLT). The foundation is keen to look beyond the blockchain technology.

 

Scalable

IOTA is also scalable without any additional cost transaction fees. Similarly, it could scale data integrity to drive the Internet of Things (IoT) future. The foundation’s co-founder and co-chair, David Sonstebo, said

“Hardware wallets are regarded as the safest way to store cryptocurrencies. At IOTA, we committed to delivering the safest and most good standalone cryptocurrency wallet. The Trinity wallet is well on its way to fulfilling that commitment, and today we are proud to announce the next step on the journey.”

Pointing out that Ledger has earned a reputation; he said that reliability and security have made it a perfect choice for integration with IOTA’s Trinity. He added that without the contribution from developers and Ledger team, it would not have been possible.

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Forbes releases top 50 blockchain companies list

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Forbes has released top 50 blockchain companies using blockchain technology list and these are almost all household names of the world's largest companies.

Forbes has released a new top 50 blockchain companies using blockchain technology list and these are almost all household names of the world’s largest companies. In fact, they are all billion dollar plus companies such as Amazon, Citi Group, Foxconn, Comcast and a whole host of others and unsurprisingly the bulk majority of these companies are using Ethereum.

 

Although, outside of Ethereum which is, of course, the number 1 blockchain for these companies, we do see others like Hyperledger and Quorum for example, although much rarer on the list in terms of mentions are blockchains such as Stellar Lumens or Cardano. Blockchains such as TRON, EOS, NEM, and others are not mentioned in the list of top 50 companies.

 

Companies choosing Ethereum according to Forbes:

Big businesses really like what Ethereum is doing. Ethereum has also worked very hard to make these relationships happen over the last few years and those relationships are now paying dividends big time.

 

All the top 10 companies are located in China or the United States.

The Top 10 (Forbes List):

10. Ping An Insurance Company: China

9. Bank of China: China

8. Apple: United States

7. Wells Fargo & Company: United States

6. Bank of America: United States

5. Agricultural Bank of China: China

4. Berkshire Hathaway Inc: United States

3. JPMorgan Chase & Co: United States

2. China Construction Bank Corporation: China

1. Industrial and Commercial Bank of China: China

 

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JPMorgan expanding itself into the blockchain and crypto space

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JPMorgan Chase has been posting a lot of job opportunities in the blockchain and cryptocurrency industry on Indeed.com, the job listing portal.

JPMorgan Chase, the American multinational investment bank and financial services company has been posting a lot of job opportunities in the blockchain and cryptocurrency industry on Indeed.com, a job listing site. According to the data from Indeed.com, the overall job openings for the cryptocurrency industry also seems to be on a rise.

 

JPMorgan Entering the Cryptocurrency Space:

Though the CEO of JPMorgan, Jamie Dimon has always been a strong opponent of Bitcoin and other cryptocurrencies, his company has been interestingly expanding its operations in the field of blockchain and cryptocurrency.

 

Last month, JPMorgan launched its own cryptocurrency known as the JPM Coin, which will serve the bank’s precious customers in order to make transactions between them more swift and steady.

 

Back in 2018, JPMorgan had launched a blockchain powered platform known as Quorum which might be seen quite homogeneous to bitcoin and ethereum, however, it is almost fully centralized in nature.

 

Large companies entering the Blockchain Space:

In recent times, a lot of huge companies worldwide have been entering into the blockchain and cryptocurrency space. According to a recent publication by the Forbes, large organizations such as IBM, Deloitte, Cisco, Microsoft, Consensus, and others have been curiously hiring employees that are experts in the field of blockchain technology.

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Adoption: Courts in France adopt blockchain technology

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The NCC or National Council of Clerks of France have finally tested a blockchain technology-based solution for the courts of the country.

The NCC or National Council of Clerks of France recently made an announcement that they have finally tested a blockchain technology-based solution for the courts and are now prepared to launch it throughout France. The National Council of Clerks is a representation of the clerks of the corporate and commercial registry in around a hundred thirty-hour workplaces in France. The workplaces depend upon one another for sharing important data.

 

The goal of NCC France

The NCC is determined to streamline and position the latest information technology that capitulates something that is known as ‘the single version of the truth’. The data tracks an organization’s growth, dissolution, change of location etc. The sharing of data amongst each other was earlier a big challenge for the NCC.

 

The project based on blockchain technology had an aim of rapid cycle times and precision of information. In the pilot phase of the project, the National Council of Clerks in France was able to lessen the timing of registry operation involving a lot of days to just one day.

 

According to the president of France National Council of Clerks, Sophie Jonval, the project based on blockchain technology is an outcome of the partnership with IBM. IBM who is already an expert in blockchain technology and cryptography has been serving as a technological partner.

 

According to the NCC, the project shall be rolled out in the 1st half of 2019 and the project shall ensure a transparent and improved dynamics of the interactions between the clerks.

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