blockchain

Promether’s New DApp – The Telegram Killer?

In the age of data privacy and cybersecurity concerns, encrypted chat services like WhatsApp and Telegram just seem like a smart move. Where Facebook messenger sells the contents of your private conversations to advertising services and research groups for their own purposes, encrypted apps aim to protect your data and allow you to have private, secure conversations with friends and colleagues.

So far, WhatsApp and Telegram have been leading the charge in the battle for mobile chat privacy, but a new DApp looks set to rival and perhaps even overtake the two.

Promether’s first viable product is die in Q4 of this year and it’s called Contact, an end-to-end encrypted DApp which will run on the Promether blockchain. So first thing’s first – what is Promether?

Promether

We actually covered Promether in a recent article here on CryptoIsComing, so I’ll keep this recap short and sweet.

Promether is a blockchain security firm founded by Eric Anderson, the former lead programmer for projects like GTA V and Guitar Hero and a prominent figure in hacking and programming circles. Anderson is the founder and CEO, and launched Promether to combat and help eliminate online surveillance. The company provides blockchain solutions to other blockchain DApps, and now they’re launching their first MVP (minimum viable product) – Contact.

The project is partnered with HOLO and unlike most blockchain firms, Promether will release their MVP and native blockchain before ever crowdfunding from the public.

Contact

Contact is the MVP set to disrupt online chat apps. Promether aims to establish itself as a secure communications platform via the DApp which will launch alongside a built-in decentralized VPN network and a programmable API for developers.

The whitepaper reads:

The truly secure VOIP/messenger will work with Android, iOS, Linux, Windows, OSX, and any IoT/embedded device, like the Raspberry Pi.

This sounds like a rather ambitious goal to set before an ICO even gets off the ground, but the effort to launch products before crowdfunding is commendable and the combination of private funding and a highly experienced programmer as the CEO should help offset any concerns about the viability of Promether’s roadmap goals.

Contact will be powered by the Promether network, fully decentralized, and built on top of open source software designed to protect the privacy of every individual through decentralized distribution protocols, flexible encryption, and advanced privacy functions.

Contact features will include encrypted group chat (such as dynamic group membership via NFC/QR Codes), audio/video streaming, secure messaging, VOIP, file sharing, sync, multi-device with identity, perfect forward secrecy (PFS), cross-platform/app communication, private file storage, video calls, conference calls, and message and account/identity self-destruction functions.

The platform also aims to enable interoperable integration – this would allow Contact to be able to exchange information/content/value/data with other applications on the network through the API.

Contact users will have flexibility in choosing how messages are stored, with features to store everything in-memory (RAM) (which makes data almost unrecoverable once deleted), offline, or distributed around the world. Between the self-destruct feautures and the data erasure capabilities, Contact is clearly geared very much with high-level security and privacy in mind.

Because the application is powered by the Promether network, all data storage functionalities are decentralized which adds another layer of security and privacy – data distributed across multiple nodes means no central point of weakness for hackers to exploit.

Comparison to other services

At this point it might be useful to compare Contact to Telegram and WhatsApp. Does Contact sound impressive? Yes, that level of security sounds good and if the DApp works as intended then it has a very strong use case.

But don’t Telegram and WhatsApp already offer most if not all of this?

Let’s compare the two competitors to each other first.

Telegram Vs WhatsApp

Telegram offers end-to-end encryption – while this has since been adopted by WhatsApp, the encryption used by Telegram is considered to be more secure and Telegram users may send secret messages which disappear after a set amount of time and also disallow screenshots of conversations, neither of which are an option on WhatsApp.

All Telegram activity is cloud-linked, which increases file storage capacity significantly while arguably compromising on security.

WhatsApp has the current advantage of having an enormous userbase of around 1.3 billion users, ten times that of Telegram. WhatsApp also has a more diverse range of features than Telegram, allowing users to send status updates via text or video as well as allowing font formatting popular on social media platforms like strikethrough, bold, italic, etc.

Caveat

On WhatsApp you may invite 256 people to a group; Telegram allows 10,000. Telegram and WhatsApp each let you send files to contacts, but Telegram is better in this aspect because it hosts files up to 1.5 GB each (WhatsApp limits files to 16 MB). What are the stats on Contact?

At this time, we’re not sure yet – there are a number of questions about specific Contact feautres that are not yet known at this time despite it being very close to launch. One thing that is certain, however, is where Contact wins.

Where Contact Wins

Contact beats its two main competitors on security hands down. Unlike the other two, no information is stored on the cloud or a backup service. It’s not necessary to enter your phone number to use Contact, and the app can bypass censorship tools like the Great Firewall of China. The level of anti-surveillance features and security measures are perhaps unparalleled by any other publicly available chat service. Obviously, there already exist highly secure ways of communicating online – PGP encryption, darknet email services, etc.

However, Contact isn’t going to be an obscure onion site for highly tech-literate data security geeks  – Promether aims to launch an app that will satisfy social media needs of regular users while providing them with all of the security features mentioned in the article and perhaps some more besides that as well.

While the DApp is still in development, it’s due out at the end of the year. A decentralized service with secure encryption and multiple, modifiable safety features designed to protect and even remotely destroy your data if necessary, keeping your personal data out of the hands of the growing community of organized black-hat data miners, identity thieves, and hackers which continue to bombard social media with their attacks in an effort to access private financial and sensitive personal information.

While Promether still haven’t released most of the specifics about the app, you can stay updated via the project’s Telegram or Twitter.

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The Raven’s Dispatch – August 7, 2018 – Thieves Steal Over $5 Million BTC by Hijacking SIM Cards

It seems like every week someone elses crypto gets stolen

Once again hackers find creative to hack up to $5 million from unsuspecting people. 40 people to be exact. And the cheeky hacker even had the stones to hack phones at Consensus. This hacker is my kind of scum. This is the first known form of this hacking, known as Sim Hacking, in order to steal crypto currency. What is Sim Swapping? A mobile phone SIM card stores user data in Global System for Mobile phones. Without a SIM card, GSM phones aren’t able to tap into any mobile network. The hacker will trick the mobile network service and have them transfer mobile phone numbers of targets onto a SIM card which is held by the criminal.

One the number has bene obtained the hacker has access to reset any passwords on the phone and gain access to online accounts or cryptocurrency exchanges. And voila, stolen crypto. Joel Ortiz, the antagonist of our story, even stole millions from Consensus in may of this year. Joel was captured trying to escape to Europe and now faces 28 charges. The full Motherboard piece is worth the read. Be safe out there familia. Now it’s time to engage the Dispatch! (better intro?…I didn’t think so).

Contrary to what many in the community thought, 2018 is not our year. But there are still four months left right? Plenty of time for a turn around. The overall cryptocurrency market kicked us in the gut the past week moving from $271bln to $232bln representing a 15% decline since the last Dispatch. And like lemmings the top five also went over the cliff.

Bitcoin (BTC): It get this acute sensation week to week, as I put this thang together, that i’ve seen this story before. Bitcoin dropped 14% the past week suffering a steep decline Tuesday evening. As of this post BTC is settling (we hope) at $6500 .

Ethereum (ETH): I’m gonna make this short, because I think we all know what’s coming: 13% decline, dropping from $423 to $369. We all feel the pain.

Promether (PYRO): Founded in August 2017, Promether is a new type of network called an Adaptive Symbiotic Network (ASN). It works on three principles: network, application and users. The outcome is simple, providing security to everyone. The foundation of this network is based on AI with the use of ubiquitous computing.

That’s quite the mouthful, and pretty ambitious. But in this hyperconnected world security should be everyones primary concern. The list of features is long but one recuriing theme sticks out throught the whitepaper: security, encryption,

Promether is currently holding a private sale which closes upon raising $7 million. Currently in its second phase, it has already raised millions by offering it’s native coin (PYRO) and bonuses to early investors. Promether plans to have a public ICO in the near future once its minimum viable product, Contact, is ready for launch.

If you want to know more about Promether check out our guide.

WHAT’S NEW AT CRYPTO IS COMING

BTC vs. BCH: Let’s get ready to rumble– We take a look at the advantages and disadvantages of each coin, examine the value proposition, branding and level of decentralization in this piece.

What is Promether? – We take a look into this project aiming to provide us better security and anonimity on the internets. With all the hacking and loss of personal data it’s time we have take a different look at security.

LATOKEN’s CEO Believes Tokenized Assets are The Future – The young multi-asset exchange has announced Bitcoin deposits and withdrawals are now enabled. Given the fact the Japanese Yen is the second most traded fiat currency with Bitcoin, the company hopes this move will accelerate that market’s penetration.

Exclusive: ABCC Exchange is Launching Its App This Week – The Singaporean exchange has recently issued its ABCC Token (AT), and it’s now getting ready to launch its smartphone app. I spent some time playing with the test app, and I can say I was pleasantly surprised.

Bitcoin: Uncorrelated assets, the “holy grail” of portfolio allocation – When it comes to investments of any kind, it’s important to understand how the assets in question are related to others on the market. Bitcoin offers traders a lifeboat when things turn rough by being uncorrelated to the stock market

Bank in Myanmar To Integrate Blockchain For Its Migrants in Thailand – Myanmar’s Shwe Urban & Rural Development Bank has partnered with Everex, a financial technology (fintech) company to develop a blockchain-based digital remittance service between Thailand and Myanmar.

Is Ethereum Classic About To Make Its Move? – With a clear roadmap and team, deep pocket investors and strong support in Asia, is Barry Silberts long on ETC about to pay off?

– A lot of commotion this morning in the crypto streets. First news broke that New York Stock Exchange’s parent company ICE will launch new futures contract that delivers real bitcoin.  It also seems Coinmarketcap got a little too excited by this and began displaying prices over 10x! At this point, we’re not sure if this is related to a hack on their site or their price providers.

Top 15 upcoming ICOs (August 2018)  – Another great infographic from @ico_analytics showcasing some of the highest rated upcoming ICOS based off reviewers data points. Check it out!

Exclusive: LATOKEN’s CEO Isn’t Scared of His Bigger Competitors – In an exclusive interview for Crypto is Coming, Valentin Preobrazhenskiy, LATOKEN’s founder and CEO, talked about how the exchange came to be, his thoughts on its competitors, and its future goal.

India Doubles Down on Blockchain-Powered Hubs With Its New Initiative – The country has made clear it is ready to embrace blockchain, and it isn’t afraid to show it. Officials have recently announced India will be developing a ‘blockchain district’ in the Indian state of Hyderabad.

CRYPTOCURRENCY NEWS FROM AROUND THE INTERNET

SEC Postpones Decision on Bitcoin ETF Listing to September – Ahhhhh, a life line. Or is it? The U.S. Securities and Exchange Commission has postponed a decision on whether to allow the listing of an exchange-traded fund backed by Bitcoin.

Duo Security researchers’ Twitter ‘bot or not’ study unearths crypto botnet – A team of researchers at Duo Security has unearthed a sophisticated botnet operating on Twitter — and being used to spread a cryptocurrency scam…..TIf you use twitter for anything crype related then you’ve seen the ETH bots. This is so anticlimactic.

Goldman Sachs Is Planning a Crypto Custody Service – Goldman Sachs Group Inc. could offer a boost for the burgeoning universe of funds betting on cryptocurrencies.

Bitmain Confirms New Crypto Mining Facility in Texas – Chinese mining giant Bitmain confirmed that it is set to open a new cryptocurrency mining facility in Rockdale, Texas, USA.

Money or Assets? How World Governments Define Cryptocurrencies – Cryptocurrencies — what are they? Money? Commodities? Securities? Utility tokens? Or something else? Few national governments seem to be in any kind of agreement on this question, and for now, at least, their divisions have given such currencies as Bitcoin and Ethereum a floating, indeterminate status on the global stage.

Coinbase Custody is Exploring the Addition of 37 New Assets – San Francisco-based exchange and wallet service Coinbase announced today, Aug. 3 that it is exploring the addition of 40 new assets to its custodial service, Coinbase Custody.

The NYSE’s Owner Wants to Bring Bitcoin to Your 401(k). Are Crypto Credit Cards Next? – Backed by Microsoft and Starbucks, Intercontinental Exchange is launching a startup called Bakkt to make the cryptocurrency safe for your retirement fund, and maybe for retail, too.

Mt Gox Creditors Prepare Revised Claims for Bitcoin Repayments Plan – In 2014, Mt Gox exchange handled an estimated 70% of the total Bitcoin supply until a security breach led to the loss and/or theft of approximately 850,000 BTC, worth $450 million at the time and billions today.

Six Reasons Why Institutional Investors Could Flock to Crypto in 2019 – A dude at Forbes who look pretty intelligent lays it down for us, guys.

Binance Makes First Public Aquisition: Anonymous Wallet for Ethereum Tokens – Binance, the world’s largest cryptocurrency exchange by volume, has officially made its very first public acquisition: Trust Wallet – an anonymous mobile storage solution for Ethereum-based tokens.

US Treasury Dept. Fintech Innovation Report Touches on Crypto, Blockchain – A major new report from the U.S. Treasury Department published July 31 has called for a more agile and conducive regulatory approach to innovations in the fintech sector.

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What is Promether?

The advent of digital technology has given rise to an increasing number of cyber threats. As we have become more dependent on digital products and services, we have also become more vulnerable to cyber attacks. 

SURVEILLANCE IS EVERYWHERE

From data leaks to identity thefts, it is a walk in the park for black-hat hackers to manipulate systems and networks with poor operational security. A general lack of awareness from users doesn’t help matters.

Here are some alarming facts:

  • One in three Americans is hacked every 39 seconds.
  • About 230,000 samples of new malware are launched every day
  • One successful data breach can cost a loss of about $150 million

The solution to these problems lies in the adoption of top notch network security, excellent online privacy and state of the art encryption. I have been using the internet for years now. I do everything on the web, from keeping in touch with my friends over Facebook to sending private emails to my clients. I even transact on the web, using PayPal and other such platforms.

All in all, everything that I do is on the web. Until a few years ago, I did not have to worry about my data being on the cloud, however things changed when one day I lost access to my Facebook account, because someone had hacked into it. Yes, someone was able to break into my Facebook and could view my photos, my private conversations and even steal my identity. I got worried, quickly spoke to a friends, got my account back with the help of Facebook and realized my mistake – not having proper security. What became clear to me then is that online security and privacy have never been more important.

Enter Promether.

What is Promether?

Founded in August 2017, Promether is a new type of network called an Adaptive Symbiotic Network (ASN). It works on three principles: network, application and users. The outcome is simple, providing security to everyone. The foundation of this network is done on AI with the use of ubiquitous computing.

Applications inherit security, privacy and anonymity and pass these features on to networks to form a solid chain of security.

It is a step beyond. Promether doesn’t only deal with privacy on transactions and sensitive data but is focused on offering privacy on communications, engagement and daily online activities, too.

The Need For Promether

This is the era of the internet. Almost everything is connected to the web, from our mobile devices to our home security system to our vehicles. This makes it a very risky situation as everything that is on the web can be hacked, unless you opt for the right security.

There have been instances of hackers breaking into homes by hacking the alarm system and disarming it. Plus, your webcam can also get hacked giving stalkers and hackers access to your private life. All this is a dangerous situation that highlights the need for Promether even more.

Major reasons why we need this tool include:

  • Poor Security: Many applications come with little to no security. Plus, with hackers becoming smarter with every passing day, it can get difficult for manufacturers to provide the right security, which is why a third-party tool is your best bet. Everything we do, from our cooling and heating systems to our communication is controlled by Apps and therefore securing our personal information is more important than ever.
  • Privacy Issues: Everything we put on the web is out there for the world to see. Data can also leak due to security breaches and hacking incidents.We are being monitored not just by government agencies but at times by our ISPs as well. Promether can help reduce these issues by guarding our data. Personal privacy is under attack.
  • No Single Solution To The Problems: Until now, we did not have a one-in-all solution package to take care of network related problems. However, Promether promotes itself as one-stop-solution.
  • Enterprise Level Privacy and Encryption: Hacking incidents can result in financial loss in addition to a loss of business. With Promether, your business can scale without having to worry about security.

Network Security Attacks So Far

Even the biggest companies in the world get hacked…all the time. Increased operational security is becoming a necessity.

ROADMAP

Promether is run by a group of professionals who have years of experience in the field. This tool not only guards you against threats that are out there, but also threats that may come in the future. For this purpose, the team has planned a roadmap that shows how the project is going to improve and scale over the months.

Note: Promether is currently holding a private sale which closes upon raising $7 million. Currently in its second phase, it has already raised millions by offering it’s native coin (PYRO) and a 70% bonus.

Promether Term Sheet

Not available to the residents of China, Canada and US due to regulatory issues.

All Star Team

Eric Anderson (The CEO) – Also known in hacking circles as “Eijah” 

The founder of Promether has a degree in Masters in Computer Sciences (3.93 GPA) with many certifications. His academic qualifications and skills allowed him to get some amazing jobs, which makes his resume impressive from all perspectives.

He has served as a college professor in many schools and was the Lead Software Engineer on Guitar Hero® Warriors of Rock. He also worked as a Senior Multiplayer Programmer For Rockstar Games and developed the artificial intelligence for Grand Theft Auto V.

His previous project, Demonsaw, is a secure, anonymous, free, and decentralized information-sharing application with end-to-end encryption and no client P2P.

One of his strongest assets is AI, which he will introduce to the world of network security through Promether. His background also allows him to think from the perspective of hackers. 

With 20+ years of experience in the field, he is one of the most reliable names when it comes to security and software development.

Rishan Bhagowat – Business Director

Founder of the Sublime Group that focuses on cryptocurrency projets, he served as an advisor to FanLogic Interactive Inc. and is now business director at Promether.

Rishan has a Bachelor degree from the University of Capetown in business science and actuarial science. A serial entrepreneur at heart Rishan has founded and invested in projects like Digilytic International FZE, DroneClouds and Ryde inc.

His passion, background and expertise is about connecting life changing technology with capital and bring more joy to the world. Can’t argue with that mission.

Elton Brauer – Operations Director

Elton is the founder of Starlike, a consulting company focused on blockchain and cryptocurrency that handles digital marketing, public relations, community management, branding and technical content. 

Before joining Promether, and his experience in  corporate research and consulting led him to work as researcher and marketing advisor at Invest in Blockchain. Elton is also the co-founder of a blockchain information sourcing and tracking solution called CloakTrack.

The rest of the team can be found here.

Promether Features

Cutting Edge Encryption: Minimizes risk of exposure by eliminating interception threats. Create secure and anonymous connections to other networks using a  Decentralized Privacy Network (VPN).

Application Integration: Integrates existing and old applications accurately using a security based, open-source API with no extra cost.  

Safe and Secure Communications and VOIP: Protects data from being exposed or leaked when communicating. Through it’s own messenger called “Contact” you can securely, privately, instantly and effortlessly communicate without the threat of surveillance or the risks of private data being exposed. 

Decentralized Sharing And Storage: Share data safely on networks without the reliance of third parties or the risk of being under surveillance of hackers and other organizations. Additional features include streaming, archival and caching.

Secure Connections: With the tool, you can create new connections without any issue and browse anonymously with private browsing. Plus, it also gives you access to blocked websites.

Use It Without Tokens: The system is free and available even to users who have no PYRO of their own. This enables everyone access to decentralized networking and the benefits of blockchain solutions.

Scalability And Performance: Adapts to a technology when required resulting in improved performance and reliable scalability.

Promether is a blockchain powered utility that doubles as an API with fully programmable nodes. It offers an interoperable network that provides users with a safe environment to run applications. It is fast and scalable, with the potential to allow large amounts of data to transfer at lightning speeds.

Check out this white paper linked at the bottom for more details. 

PYRO – The Currency

PYRO is the native cryptocurrency created for the Promether network. A person who owns and stakes PYRO is fundamentally a part owner of the total capacity of the Promether network. In this case capacity is a combination of network bandwidth, hard drive space, memory, and CPU/GPU processing power. A true utility coin. 

300 million coins will be created of which 10% will be kept in reserve for future use (future miner incentives). The total distribution looks like this:

Currently open only to private investors, Promether plans to have a public ICO in the near future once its minimum viable product, Contact, is ready for launch.  Contact is a truly secure VOIP/messenger for Android, iOS, Linux, Windows, OSX, and any IoT/ embedded device.

Along with the messenger, the Promether team plan on launching a built-in decentralized VPN network and a programmable API for developers BEFORE the public ICO. A stark contrast to the many “white-paper” ICOs in the cryptocurrency space asking for money without having delivered any code or product. 

What About Fees?

Promether is completely free to use and has zero transaction fees. Anyone in the world can use Promether with or without holding PYRO. However, coin holders and those who contribute back to the overall capacity of the network are given priority over use of the network. This ensures that anybody can use the network while minimizing leaching.

For individual users this works perfectly and for companies looking for enterprise level solutions for their businesses, this provides greater incentive for them to buy and stake PYRO. As demand for bandwidth on the network increases, so will demand for PYRO.

But We Already Have Decentralized Networks

Yes we do, but current solutions pale in comparison when it comes to privacy, ease of use, network capacity and security that Promether will provide.

Conclusion

This all-in-one, and ambitious solution comes with good intentions and is an open source tool with no restrictions. It’s modifiable, private and acts as a services API layer and network infrastructure that can be used to develop secure apps. This clearly is the future of network security.

That being said Promether is highly ambitious and one has to wonder if they can pull it all off. With a roadmap in place, and the team clicking and traveling the globe raising money and evangelizing the Proether project we believe this project is something everyone should keep an eye on.

Find the Promether website here

Promether Whitepaper here

Promether Telegram Group here

Interested in other cool crypto posts….check out Institutions are finally coming!and Bitcoin ETF approval could be huge for crypto!.

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