Penta Security Taps Blockchain for Electric Vehicle Battery Data Collection

South Korea’s Penta Security has announced that it is using distributed ledger technology (DLT) for the collection, storage, and sharing of data related to electric vehicles (EV). The firm says it’s collaborating with AutoCrypt to develop a platform that will promote the safety, efficiency, and environmental friendliness of electric vehicles. 

Penta Making EVs Better with Blockchain 

While electric vehicles may hold the promise of a cleaner and greener environment, since they do not emit carbon monoxide and other greenhouse gases like regular vehicles that run on petrol, battery degradation, however, remains one of the major concerns for EVs.

Earlier in February 2021, reports emerged that Chinese authorities had summoned Elon Musk’s Tesla, the world’s leading EV maker for quality issues, which include battery fires and other problems. 

Now, per sources close to the latest development, Penta Security, a South Korean company that focuses on providing web, internet of things (IoT), and data security products, solutions, and services, is looking to adopt distributed ledger technology (DLT) for the collection, storage and sharing of EV batteries.

Improving EV Battery Efficiency 

As highlighted above, batteries are a major component of EVs, as they determine the miles the vehicle can cover per time and they also account for the largest proportion of manufacturing costs of electric vehicles.

Penta Security has revealed that it has joined forces with AutoCrypt, a firm that claims to be focused on redefining mobility by providing comprehensive end-to-end security for transportation technologies, to develop a blockchain platform for accurate data collection of EV batteries.

Specifically, the team says the blockchain platform will be responsible for detecting abnormal behavior during the charging and discharging of EV batteries and promptly notify EV owners to enable them to take the necessary actions on time.

The firm claims the blockchain solution will have the capacity to analyze between 100 to 150 data points per battery and data will be collected on over 1,000 EVs each year. 

Commenting on the project, Sangkyu Shim, CTO of Penta Security said:

“Battery data is a key resource for the development of the electric vehicle market, such as predicting electric vehicle risks, recycling batteries and saving repair costs. We will protect drivers and contribute to the development of the battery industry.”

Just like in various industries across the global economy, blockchain technology is increasingly being explored in the automotive ecosystem.

BTCManager reported earlier in January 2021 that the Mobility Open Blockchain Initiative (MOBI), in collaboration with leading automobile manufacturers, has launched a blockchain-based vehicle identity (VID) system. 


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Two Crypto Assets Could See Imminent Exponential Gains, Says Analyst Josh Rager

Popular crypto analyst Josh Rager is naming two coins he believes are set to explode as enthusiasm for non-fungible tokens (NFTs) grows.

Rager says that two small cap crypto gems are set to receive a lot of attention, comparing their small market caps to the likes of the billion-dollar gaming platform Enjin (ENJ).

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“Sure, Enjin is good but people are getting in Enjin at a $1.5 Billion market cap, while Gameswap (GSWAP) and Shroom.Finance (SHROOM) are sitting at only $17 million and $34 million market caps, with decentralized exchange (DEX) releases coming soon along with alpha being dropped in the next few weeks.

Even at half Enjin’s market cap that’s a 30x & 15x for GSWAP and SHROOM.”

Shroom.Finance is building an NFT protocol for minting and swapping non-fungible tokens (NFTs), and its companion platform Gameswap specializes in allowing gamers to trade in-game assets. Rager is joining fellow trader Cantering Clark with significant public positions in SHROOM.

He has also been tracking Bitcoin closely this week as it retests the $57,500 zone.

“Here we are, retest the previous high on the daily close. Looking for price to close above $57,500 then make a move to new highs from there.

We can certainly see some sellers step in here but with multiple retests sellers can certainly run out and bulls will continue up.”

As Bitcoin retests the level for the second time this week, Ragers says he is optimistic that the king coin will be able to continue its ascent to higher highs.

“Love to see Bitcoin retest daily resistance for the 2nd time in two days.

Makes me bullish – sellers are about to run out at this pace.”

Source: Josh Rager

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Patrick Mahomes Moves To Cash In On NFT Boom With ‘Museum Of Mahomes’ Digital Collectibles

Topline

Kansas City Chiefs superstar quarterback Patrick Mahomes will sell collectible non-fungible tokens in a set dubbed the “Museum of Mahomes” on the platform MakersPlace next Wednesday, with starting prices ranging from $2,500 to $15,000.

Key Facts

Mahomes, 25, told CNBC on Friday that, given the recent skyrocketing value of digital collectibles, getting into NFTs as “quickly as possible” was a “no brainer.”

Three digital pieces of art that commemorate meaningful moments in Mahomes’ career will be sold in an online auction that begins at 6:30 p.m. Wednesday.

A portion of the proceeds will be donated to Boys & Girls Clubs in Missouri and go  toward the completion of the “15 and the Mahomies Foundation” playground at MLK Park in Kansas City.

Key Background:

NFT prices soared to new heights this week. On Wednesday, CryptoPunk #7804, a computer-generated avatar of a teal-colored, pipe-smoking alien wearing a hat and sunglasses, sold for 4,200 ethereum (equivalent to approximately $7.5 million at the time). According to CryptoSlam, an NFT data aggregation site, 399 CryptoPunks have been sold in the past seven days for $37.5 million. Over that same seven-day stretch, NBA Top Shot, a blockchain-based platform on which users buy and sell collectible highlights known as “Moments,” has generated $51.9 million in sales. On Thursday, a digital collage by the artist Beeple sold for a jaw-dropping $69.3 million at a Christie’s auction. 

Tangent:

Mahomes isn’t the only NFL star hopping on the NFT bandwagon. Earlier this week, Super Bowl champion Rob Gronkowski announced he partnered with NFT marketplace OpenSea to release five digital trading cards. “I see what’s going on, and it’s just exploding,” Gronkowski told CNBC on Monday. “I wanted my fans that are living in the digital world to be able to get a piece of this action.” Like CryptoPunks, Gronkowski’s NFTs will be available on the ethereum blockchain.

Further Reading:

Pipe-Smoking Alien CryptoPunk NFT Sells For $7.5 Million (Forbes)

Patrick Mahomes is jumping into the NFT business with digital art auction (CNBC)

 Rob Gronkowski will sell NFTs of his best Super Bowl moments (CNBC)

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Buterin helping to strategize against Ethereum 51% attack possibility

Ethereum developers recently proposed a network change called EIP-1559 — a proposal meant to combat the network’s rising transaction fees. Expected to take effect in July of this year, the move would send a part of every transaction fee to the Ethereum network itself. Ether allocated in this manner would then be burned, reducing the number of coins in circulation.

This change would also decrease the amount of rewards going to the network’s miners, leading some to protest the move. A vocal group of participants have since begun to advocate for a demonstrative network takeover, which could threaten the security of the network. The group, however, does not seemingly intend to overthrow Ethereum, insisting that they only desire to show the viability of such an attack. Buterin and other Ethereum developers have since responded by planning defensive efforts.

“The goal of this document is to describe a mechanism by which a merge can happen quickly, with little modification to either the ethpow or beacon clients,” said Buterin. This move would essentially transition the network to Ethereum 2.0 faster than expected.

“Like clockwork, the Ethereum community has quickly organized potential solutions to this possible 51% attack, with Vitalik leading the charge,” a blog post from Status said on March 12, pointing toward the framework written by Buterin. “Vitalik describes how Ethereum can perform a ‘quick merge’ by rapidly moving from proof-of-work to proof-of-stake with limited changes required to Ethereum clients,” the post said.

A miner known as “Bits Be Trippin” commented during a March 9 YouTube video that, “Part of the risk display here is not to attack the network, it’s to show that force projection is possible.” 

Ethereum 2.0 is a scaling effort that looks to take the network from proof-of-work, or PoW, to a proof-of-stake, or PoS, mining consensus — an endeavor that has been in the works for years.

Buterin’s recently proposed framework would expedite the network’s mining consensus transition, choosing to work out the kinks and details of the system after the fact, the Status post detailed. The merge could pave the way for smoother development on Ethereum 2.0, according to the post and Buterin’s write-up.

The Status blog noted that the EIP-1559 opposition group have already technically mustered enough power to conduct their 51% attack, based on the group’s web page at the time of the blog post.

Ethereum’s network has been home to many significant developments in both the decentralized finance and nonfungible token arenas over the past year. As the number of platforms and assets running on the Ethereum network have grown, however, so too have the network’s transaction fees.

Ethereum initiated Eth2 in December 2020, with the launch of its beacon chain.