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Decentralized Cloud Storage – MaidSafe and Sia Projects

Blockchain for storage also known as Decentralized cloud storage is a new technology in data storage that utilizes blockchain and peer-to-peer (P2P) technology to eliminate the need for centralized and physical data servers.
Instead of storing data on centralized servers ran by big companies like Amazon, Google, or Microsoft and Alibaba Cloud, decentralized cloud storage systems distribute data across a multiple network of nodes, which can be owned by anyone on the blockchain. This allows for greater security, data integrity, privacy, and control over one’s data.
MaidSafe Blockchain
One of the most popular decentralized cloud storage blockchain projects is MaidSafe. MaidSafe, which stands for “Massive Array of Internet Disks, Secure Access for Everyone,” is a Scottish company that has been working on decentralized data storage since 2006. Their platform, SAFE (Secure Access For Everyone) Network, aims to provide a secure, private and censorship-resistant internet where users have full control over their data and their online identity.
SAFE Network uses a distributed hash table (DHT) to index data, which allows for fast and efficient retrieval of data from the network. The network also employs a unique consensus mechanism called “The SAFE Network Consensus,” which is based on Proof of Resource (PoR) as opposed to Proof of Work (PoW) or Proof of Stake (PoS). PoR encourages users to contribute resources to the network, such as storage and bandwidth, in exchange for rewards in the form of Safecoin, the native token of the network.
Sia Blockchain
Another well-known decentralized cloud storage project is Sia. Sia is a blockchain-based storage platform that allows users to rent out their spare storage space to other users in exchange for Siacoin, the native token of the Sia network. Sia splits files into smaller pieces, encrypts them, and distributes them across the network, making it almost impossible to lose data or have it compromised.
Sia also uses smart contracts to facilitate storage deals between renters and hosts, ensuring that both parties fulfill their obligations and that payments are made correctly.
Conclusion
Both MaidSafe and Sia are focused on providing decentralized, secure and private data storage solutions. They both use different approaches, consensus mechanism and token models. MaidSafe uses PoR consensus and Safecoin token, while Sia uses PoW consensus and Siacoin token. Both projects are open-source, meaning anyone can contribute to their development and are actively maintained and developed by their respective communities.
Decentralized cloud storage is still a relatively new concept and projects like MaidSafe and Sia are just the beginning of what is possible. As blockchain technology and P2P networks continue to evolve, it is likely that we will see more and more decentralized storage solutions come to market. With the increasing concerns about data privacy, security, and control, decentralized cloud storage could be a game-changer for how we store, share and use our data in the future.
Altcoins
Uphold Exchange Announces Evernode Airdrop for XRP Holders

Uphold exchange has revealed its support for the upcoming Evernode Airdrop. The airdrop, exclusively for XRP holders, promises to reward participants with EVRS tokens.
The Evernode Airdrop: What You Need to Know
Scheduled for September 1, 2023, at 6:00 PM AEST (8:00 AM UTC), the Evernode Airdrop snapshot is poised to capture the XRP holdings of participants. This snapshot is a pivotal moment as it forms the basis for determining the proportion of EVRS tokens that qualifying XRP holders will receive. It’s important to note that this snapshot will consider XRP holdings up to a limit of 50,000 XRP tokens, ensuring a level playing field for all participants.
The fairness and equality of the distribution process is a core principle of this airdrop. Uphold is keen on ensuring that participants receive EVRS tokens in a manner that reflects their XRP holdings accurately. This approach not only promotes inclusivity but also reflects Uphold’s dedication to creating value for its user base.
Factors Influencing Airdrop Date and Availability
While the snapshot is scheduled for September 1, the airdrop date itself remains contingent on various external factors. Particularly, the launch of the new Xahau Network holds sway over the timeline. Uphold is steadfast in keeping its users informed about any updates regarding the airdrop’s timeline. Participants should be aware that initial access to EVRS tokens on the Uphold exchange might be limited. Uphold’s stringent listing criteria and liquidity requirements must be met before the tokens become fully tradable.
Qualification and Distribution Process
Participating in the Evernode Airdrop is refreshingly straightforward. To qualify, users need only hold XRP in their Uphold accounts at the time of the snapshot. The distribution of EVRS tokens to eligible participants will occur once the Evernode project finalizes the airdrop date and completes the process. This ensures that participants who met the qualification criteria during the snapshot will receive their rightful share of EVRS tokens.
Exploring Ripple XRP: A Unique Blockchain Perspective
As the Evernode Airdrop garners attention, it’s an opportune moment to delve into Ripple XRP’s distinct blockchain characteristics. Unlike many other cryptocurrencies, XRP is not mined. Instead, all 100 billion XRP tokens were created when the blockchain was established. This approach fosters stability and predictability within the XRP ecosystem.
One of XRP’s primary use cases is its role as a bridge currency for cross-border transactions. Ripple’s network and technology enable seamless and efficient cross-border payments, transcending the limitations of traditional systems. The platform’s speed and low transaction costs position it as a viable alternative to conventional remittance methods.
Additionally, XRP’s consensus mechanism deviates from the energy-intensive proof-of-work (PoW) approach used by Bitcoin. XRP employs the consensus protocol to validate transactions, enabling faster transaction settlement times and energy efficiency.
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Vietnam’s Crypto Crackdown: Authorities Investigate Pi Network

Vietnamese authorities have launched an investigation into the activities surrounding the Pi cryptocurrency, citing concerns over its complex and unregulated nature. The Department of Cybersecurity and High-Tech Crime Prevention expressed apprehension regarding the high-income potential and multi-level marketing resemblances associated with cryptocurrency models like Pi.
According to Vietnam Express, the investigation aims to address the risks posed by such ventures and protect investors from potential fraud and data breaches. This article delves into the recent developments surrounding the Pi cryptocurrency in Vietnam and the concerns raised by authorities.
Le Xuan Minh, the head of the Department of Cybersecurity and High-Tech Crime Prevention, highlighted the increasing complexity and unmanaged nature of cryptocurrency models like Pi. He noted instances where individuals have been coerced by cryptocurrency promoters into participating in business models resembling multi-level marketing schemes. Multiple police forces across localities are actively investigating activities related to the Pi cryptocurrency. Authorities caution the public against investing in cryptocurrency models offering abnormally high profit margins or employing multi-level marketing strategies due to the associated risks.
The Pi Network, which emerged in 2019, experienced a surge in popularity in Vietnam during 2021. However, concerns have been raised regarding the lack of transparency exhibited by the cryptocurrency. Experts in the field of blockchain have emphasized the potential for Pi to be misused for fraudulent activities or unauthorized data collection. Despite these concerns, many individuals still hold faith in Pi, often under the assumption that they have nothing to lose by participating. However, they unknowingly expose themselves to the risk of personal data theft.
Cryptocurrencies are not recognized as legal tender in Vietnam. Engaging in activities such as issuing, trading, or using cryptocurrencies for payment can lead to penalties of up to VND100 million (US$4,240). The ongoing investigation into Pi cryptocurrency serves as a reminder that individuals should exercise caution when participating in unregulated crypto ventures.
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Binance Labs Invests in Promising Crypto Projects, Expanding Web3 Ecosystem

Binance Labs, the esteemed venture capital and incubation arm of Binance, has recently revealed its latest investments in a group of outstanding projects from Season 5 of its highly regarded Incubation Program. These carefully chosen projects cover a diverse range of sectors within the Web3 ecosystem, including decentralized finance (DeFi), infrastructure, tooling, and middleware.
With an overwhelming response of over 900 project applications, the Incubation Program handpicked only a select few, constituting less than 2% of the total, to participate in this exclusive initiative. Throughout the season, the chosen participants enjoyed a tailored curriculum that addressed their unique needs as founders. Additionally, they gained access to exclusive resources from the ecosystem and had the privilege of engaging in stimulating fireside chats with prominent leaders from the industry.
Expressing the organization’s unwavering commitment to empowering early-stage projects that can drive industry advancement, Yibo Ling, Chief Business Officer at Binance, stated, “Binance Labs remains devoted to supporting scalable early-stage projects that contribute to the progress of the industry. We eagerly anticipate witnessing the positive impact of Season 5’s incubated projects on the broader Web3 ecosystem.”
The culmination of Season 5 was marked by the highly anticipated Build The Block event, where the participating cohort had the opportunity to pitch their projects to influential industry leaders and investors. Consequently, Binance Labs extended funding to five exceptional projects that exhibited tremendous potential. The selected projects include Bracket Lab, DappOS, Kryptoskatt, Mind Network, and zkPass. For comprehensive details about each project, please refer to the official announcement available here.
Exciting prospects await as Binance Labs prepares for the forthcoming launch of Season 6 of the Incubation Program. Visionary founders of early-stage projects are strongly encouraged to apply, as the application process will be open on a rolling basis.
As the venture capital arm and accelerator of Binance, Binance Labs consistently seeks out groundbreaking innovations within the Web3 sphere. Since 2018, Binance Labs has invested in more than 200 projects hailing from 25 countries. Through the Binance Labs Incubation Program, it has successfully nurtured over 50 projects native to Web3, including notable names such as Polygon, Perpetual Protocol, and Dune Analytics. As of August 2022, Binance Labs holds the prestigious title of being the largest crypto venture capital firm in the industry, managing an impressive $7.5 billion in Assets Under Management (AuM) with a remarkable Multiple on Invested Capital (MOIC) of 21.0x.
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