We offer a range of blockchain solutions and packages that can be custom tailored to fit your model. Core Services: Blockchain Development, Wallet Creation, Token Sale, Exchange, Payment Integration, Digital Marketing.
The hyperledger fabric blockchain is a very promising solution for a public/permissioned blockchain, primarily for use with businesses. Chaincode allows for controlled updates of state and easily verified code execution and publication. While all of this is very promising, it lacks the large developer community behind ethereum/solidity. While this is largely due to ethereum’s first-mover advantage in smart contracts, there is also a wealth of tools and resource in the Ethereum project that make development easier. However, fabric is gaining the tools and developer documentation to make implementation much easier.
Similar to the large amount of Solidity open-source contracts, the hyperledger project is publishing more samples and frameworks to simplify development. One of the more recent of these is Hyperledger Composer, a layer that sits on top of Fabric. It allows users to generate chaincode, business networks and a swagger interface from just nodejs source files. With the introduction of convention-over-configuration practices such as this one, the hyperledger project is taking steps to more simply allow rapid development of business blockchain solutions.
Blockchain in Korea coming back? There is a widely varied range of opinions about blockchain in Korea, fuelled largely by regulatory actions by the government and high demand for cryptocurrency there. A few different events have led to these perceptions, however, the cryptocurrency community there remains largely optimistic about the future adoption of bitcoin and other cryptocurrencies.
Cryptocurrency Increased Price
Due to widely increased local demand to purchase cryptocurrencies and few exchanges to purchase on, bitcoin traded at an additional 10-50% against the US dollar, compared to other foreign exchanges. This was referred to as the “Kimchi Premium”, sparking talk from Koreans and foreigners alike about arbitrage opportunities. The Korean government put in place a large number of restrictions to limit these, including restricting overseas payment remittance and stricter regulation of cash taken through customs. Additionally, foreigners were restricted from trading on Korean exchanges. Paired with the high activity of Koreans in ICOs prior to September 2017, this demonstrates a very high interest in cryptocurrency in general.
The Korean government put a ban on ICOs in place, denoting ICOs as unlicensed securities in September 2017. This shut down the ICO market, though there has been constant interest in re-opening it. While this caused some to sour on cryptocurrency in general, this may change as the National Assembly is pushing to re-open the ICO market.
Cryptocurrency and Blockchain Projects
Korea has turned up numerous interesting cryptocurrency projects, of which two major ones are loopnet and ICON. ICON borrows some concepts from LoopNet and leverages the concept of related networks to handle communities sharing information. This also helps alleviate the pressure of broadcasting votes all of the way across the network. As these technologies mature more, there can be much more promise from Korean ICOs.
Companies are turning to private permissioned blockchain such as Hyperledger Fabric (The Dutchess Project) to solve different problems that arise in systems dealing with trust. For example, in systems dealing with consent or approvals, the signing mechanisms give a simple mechanism to see whether parties have signed off on a transaction.
Take a shipping system delivering to multiple locations. If a delivery were marked complete when 3 boxes arrived at different locations, only one of which I am present at. If each of the locations had a hyperledger user present on the channel, I could deploy chaincode on the channel to update a delivery as fully complete if and only if all 3 users verified that the object was received. Then, each user can check for the status of the delivery on-chain to see that all 3 other parties have checked off on the delivery. This could be further expanded by adding time or other requirements, to tailor the acceptance criteria to fit a use case.
While a single database accessible to all parties may accomplish the same thing, this allows all 3 parties involved to maintain a copy of the record and independently verify the integrity of the ledger.
Can you guess which industry blockchain technology might revolutionize next?
You’ve heard of blockchain technology and its potential impact on various industries from finance to real estate; whether your company is integrating digital payments or a secure exchange is needed to liquidate your cryptocurrencies. Blockchain technology is also on it’s way to revolutionizing the entire grocery industry. Yup, you read that right. Blockchain technology is about to change the way the massive food supply chain operates.
The food supply chain is one of the most complicated (yet important) industries, feeding the world and bringing in trillions of dollars in global sales per year. From farmers to warehouses; shipping companies to grocers; and everything in between – the supply chain has many moving parts. This complexity means many different tracking systems from excel spreadsheets to emails which can leave vital information lost in translation.
And when we say vital information – we mean vital. According to the CDC, 48 million Americans are affected by foodborne illness per year, 128,000 are hospitalized and 3,000 die. Not only does this affect people’s health and wellness, but it also negatively affects brands impacted by outbreaks.
blockchain technology and it’s public decentralized ledger
Using the blockchain would allow the world’s largest food supply chain companies like Walmart, Nestle, Dole, Unilever, Kroger, Tyson and more to use a unified source of data. Using blockchain development companies like No Rest Labs can track down outbreaks at a much quicker rate than the current system in place – inhibiting foodborne illness and mitigating losses for companies.
Walmart has been in the news for leading the charge in experimentation with blockchain development for the food industry. The billion dollar company has been running tests with IBM – like tracking mangos or pork back to their initial source. Before the use of blockchain technology, this exercise took them about 1 week. After using blockchain technology – it took a mere 2.2 seconds. That’s a 99% decline – a statistic this significant can have HUGE implications for food safety around the world.
Blockchain news has arrived! The United States Securities and Exchange Commission just announced charges against the two founders of Centra. They were intercepted and arrested at the airport leaving the United States and a flurry of news stories and social activity followed. People called for exchanges to de-list the coin (and many exchanges have done so or are considering it). Angry users and investors are complaining about the team on social media. Centra was a very large ICO with celebrity backing and promised a very valuable service. So what went wrong?
The SEC alleged that Centra founders made multiple false claims in their $32m fundraiser. First, they claimed partnerships with Visa and Mastercard at the time of the fundraising. According to the SEC, they did not have these partnerships. Second, they had multiple fake profiles added to the team leadership. Finally, the team allegedly mis-spent their funds. After raising a large amount of money in late 2017, by early 2018 they were nearly out.
The Centra team has defended the listing of fake profiles on their website, first threatening legal action against their accuser and then blaming the developers creating the page for deliberately creating fake founders as filler data. Regardless of how it came about, it is important to have correct and well-tested marketing material, as well as any resources to help with compliance. While there is nothing to be done about falsely announcing partnerships, engineering resources to assist with disclosures, KYC and marketing can be made by the blockchain engineering team at No Rest Labs.
A bitcoin address has a hash of a public key with a paired private key. While this is a concept very familiar to developers, especially those who work in cryptography or a blockchain, an average user might get confused when signing and verifying messages. The public address can be given out for people to send bitcoin to and receive bitcoin from. The private portion, however, should be maintained secretly by you or a trusted source. The public addresses do not contain any personally identifying information, such as a user’s name or identity. While you could check that a private key matches a particular public key, you should never disclose this to avoid fraudulent transactions or electronic identity theft. How, then, do you prove that you own an address?
Signing and Verifying Messages
You can electronically ‘stamp’ your identity on a message by adding a signature. With a given input (we call this a plaintext message) such as: “I verify that No Rest Labs was has ownership of the address the_address_I_signed_with_here at 2018-03-28T08:51:22+00:00 – 35ff633770e47e084c50c547247404518a844c07d3a314630648bfc7d65f0d67”. A good plaintext message is often significantly long, with unique and changing components such as a date or random string to avoid susceptibility to attack. The result can often be encoded to a long string of letters, numbers, and symbols for verification. Once the signing process is done, it might be sent to a user you wished to verify your identity to in a format like:
—– BEGIN SIGNED MESSAGE —– Signed message
—– BEGIN BITCOIN SIGNATURE —– Signature here
—– END SIGNATURE —–
A user can run a verification, passing in the address that performed the signature, the signed message, and the plaintext message. If it completes successfully, address ownership has been verified, as only the private key could be used to generate the signature paired with that address.
Hire blockchain developers is much harder than it should be, given the industry hype. With large amounts of funding being raised, interesting technology and enticing salaries, it is very surprising that large amounts of engineers have not already gravitated to the industry. With an order of magnitude of free jobs and a fraction of that number in developers, engineers can take their pick of projects. There are, however, a few good sources to hire blockchain developers:
Reach Blockchain Developers in Your Network
After working on a few projects or in a few different blockchain companies, anyone will probably make a few developer contacts. They can be great to work with – you will know that you work well together from previous projects and have seen them deliver code in the past. However, given the current state of the industry, you will have to make a very good case for them to work on your project above any other. With the small number of blockchain developers and a large number of potential projects and a number of nuances when launching a successful ICO, it is hard to hire more than a handful of engineers this way. While this might work for the first few hires, it is very difficult to recruit an entire engineering team this way.
Hire a Blockchain Development Team
Another option to get more developers quickly is working with an engineering team. This can offer engineers with skill sets specific to your project, without an intensive job search and hiring process. Working with a team will help keep you up on the latest industry trends, as the team will often have at least one member with experience in some new industry technology. When working with a team like No Rest Labs, you can find the right skills and size of development team for your project.
Blockchain development groups are continuously working around the clock. The team at No Rest Labs has one defining attribute — they are the most relentless group of blockchain developers you will find. The CEO of our group, Patrick, came up with the name jokingly after the team barely slept for a week to push a project over the finish line. While we do get sleep from time to time, that tireless spirit remains here at No Rest Labs.
Blockchain Development Group That Respects Your Time
We will push until the project is complete, whatever form that takes. It can be a demo that needs to get out quickly for an ico or protocol that needs to be thoroughly tested and checked in every edge case. In each case, we examine the blockchain project to make sure we understand exactly what needs to be done, and may offer suggestions of our own as to best practices or what to watch out for. This is due to our pride in completing world-class blockchain products and hopes for our clients and partners to be successful.
A Blockchain Development Company That Wants to Help
If you have a project you are thinking about or working on and need some help with, do not hesitate to reach out (why work with No Rest Labs). Even if there is not a great fit, we love to hear about new concepts on or related to the blockchain.
Blockchain development technology has become increasingly popular in the past few years, especially popular media recognition of cryptocurrencies and boom of ICOs. Many of these coins serve a purpose though — they can serve as securities or rewards for performing a decentralized action on the blockchain. These coins can help to perform a valuable function, take Bitcoin for example: The token helps reward devices for performing verifications of transactions that might not otherwise be performed. In Ethereum, this can incentivize devices to run other verifications in the form of smart contracts. In effect, it can allow you to run code on other computers in a secure and verifiable manner.
Working with these types of features is a very different style of development than normal. Instead of relying on a central source to validate information, you can get information from a network verified from a single source. There are numerous applications for this — take a new variant of identity storage for example. Instead of storing identity information in a central database, users can share self-signed identities for KYC processes. This can help reduce identity theft.
You can also consider a shipping ledger at a port. Each device can verify that it has seen a particular package with scanners from both companies. In this method, you can use the blockchain as a public ledger for tracking check-ins of objects without trusting just a single provider.
Many of these applications rely on a decentralized and trustless method of storing and transmitting data, which is starkly different from a lot of centralized web applications and other software products. These can have upsides depending on your application, and while often less efficient than a centralized datastore, you may want to weigh learning about them and integrating them into your applications.
Running an ICO involves much more than just generating and issuing tokens. There are numerous issues that can arise and it is important to be equipped for any that can arise. Someone running a token distribution event should be concerned with legal issues, a KYC (Know Your Customer) process, the smart contract or token issuance method, and security for the distribution event.
When issuing a token, you may be required to know your recipient’s identity in a KYC process. This may vary depending on your project, your jurisdiction and that of the recipient. It is important to consult with your legal team to collect all of the right information, as well as develop a way to collect it from the participant in your token sale. There are APIs and products that have emerged to help with this, some of them even on the blockchain. Whether you integrate one of those to your product or build one yourself, it is a critical part of any token sale.
Whether you have a Smart Contract issuing a new ERC20 token or using another method, you should consider how you are generating and distributing cryptocurrency to your participants. Smart contracts have risen in popularity for this purpose, and there are many publicly available options to use as a starting point to base your specific token off of (you can even check out this list from blockstarter). Even if you adapt one of these to your own purposes, it is good to subject it to as much testing and review as possible, as it can be very embarrassing to have a tokensale go incorrectly and refund users.
When performing your tokensale, aside from the security of your product itself, you should beware of spammers / scammers that reach out to the community. This may take the form of impersonation, with people pretending to be your team members with fake profiles to creating fake agencies that scam money out of people by pretending to represent your ico. People may also attempt to hack your social media profiles and send fraudulent information in order to scam money from people. The best solution to this is to control where information comes from or payments are made to, and announce it clearly and regularly. This makes it easy to discern scammers from the actual tokensale employees. Additionally, building a strong and proactive community can help people recognize and remove scammers from message boards.