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IOTA is a popular cryptocurrency for this market. But, the feeless microtransactions shows little signs towards a bullish price recovery. Let’s do a top-down analysis of this crypto, paired against the USD and see the patterns driving the current price cycles.

https://www.cryptocointrade.com/technical-analysis/technical-analysis-iotusd-iota-april-2019/

Crypto Technical Analysis Tools

In this article, we will go through which platform offers the best crypto technical analysis tools for free. We will list which technical tools you need to start your journey and what platforms offer these technical analysis features for free. Topics that will be covered are:

What is Crypto Technical Analysis?

Crypto Technical Analysis Charts

Crypto Technical Analysis Indicators

Crypto Technical Analysis Time Intervals

Crypto Technical Analysis Drawing Tools

Best Trading platform for Crypto Technical Analysis

Read the complete article, Crypto Trading Technical Analysis Tools

1. John McAffeFounder, McAfee Anti-Virus Software$1,000,000 (2020) 2. Sonny SinghCCO, BitPay$20,000 3. Changpeng ZhaoCEO, Binance$300,000 (2019?)

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Can Blockchain Technology Create a Decentralized Global ID for Individuals?

There are several different ways, national and international, to verify online identity. All rely on a trusted 3rd party, usually a government-issued ID and numeric code. Centralized authentication systems face inherent risks. Can blockchain technology create an ID database? There are cryptocurrency networks working to build immutable forms of identification, we will walk through the most prominent in this article.

Centralized User Authentication

Username and Email Most websites incorporate a username (email) and password to access them. Popular companies include Facebook, Google, and Yahoo, all use centralized servers to store user data. When users keep their passwords safe, it is to prevent an unknown person logging in, pretending to be them.

●      Inherent risks. This style of security relies on 3rd party trust, in the examples used, large software companies. Maintaining centralized storage gives nefarious actors a huge target through which they can gain access to millions of user’s information. One example of this taking place was when Yahoo was hacked.

●      Password bloat. Passwords are increasingly becoming a laborious exercise. With every centralized database asking for a unique passphrase or code, users are having more trouble remembering login credentials.

2-Factor Authentication In response to the problems associated with relying on passwords and usernames, websites are increasingly using 2-factor user authentication. A common example is sending a text message to an individual, proving sign in. Another method uses Google Authenticator, relying on a timestamp instead of a text message.

●      Inherent risks. Text messaging is not a secure form of communication. Service providers have access to user records, the NSA collects metadata, and hackers use phone numbers made public. Google Authenticator faces the same problems of any centralized database - users are vulnerable to Google having its servers breached.

Decentralized Solutions to User Authentication

Sharing only pertinent information. Government ID’s, phone numbers, and emails as user authentication devices give more information than is necessary for most transactions. Decentralized IDs, built on blockchain technology would share no additional information during a transaction. Furthermore, if the transactions required an exchange of information, the deal could be verified without exposing the exchange. The end result creates anonymous messaging that is theoretically untraceable.

Secure sign-ins. Accessing a DApp(decentralized app) can be done in a similar way as logging into Facebook. The difference is, users can sign-in without the DApp ever gaining access to the private key used. Most cryptocurrency wallets use this type of authentication.

Concerns about decentralized ID’s

●      Keeping private keys secure. To use a blockchain, having a private key is necessary for authenticated access. If someone else was to gain access to the key, an individual could lose their entire identity, allowing someone else to make transactions and data exchanges with their ID.

●      Ultimate anonymity. This is not a problem for anyone seeking to live a life free from 3rd party coercion. However, if decentralized identification took the place of government ID’s, especially in the case of value transactions, governments would not be able to trace what was happening. This is problematic when trying to implement a form of taxation on populations.

 Current Blockchain Solutions Working Toward Creating a Global ID

Civic

An app that centralizes a user’s information to create a frictionless experience when moving through the world. Interactions include buying airplane tickets, verifying identity to government agents, and even acting as proof for an individual to legally drink alcohol.

How it works. A user uploads their government ID which is then verified through Civic. The information is stored on a blockchain, making it incorruptible. Using the app, individuals can access only the information requested by a specific transaction, keeping items like height or eye color private from other 3rd parties. Access to the app requires a fingerprint scan – biometrics ideally prevent someone else from using your finger. Civic can be traded and exchanged at Bittrex and Poloniex. Read Bittrex review or Poloniex review at Cryptocoinzone.

Persona

This crypto-solution verifies a user’s information using blockchain for quick transactions. Uses include storing data on the blockchain, conducting value transactions, and even authenticating other users.

How it works. Any individual who wants to be verified on the Persona blockchain must be verified by other members of the community. Community members can earn trust by increasing the number of verifications earned from other users.  To become verified, a user must present government documents, ID or passport, a copy of an official government ID, and a bank statement proving a home address. Once a user is verified, their information is stored on the blockchain in an easy to access a data block that can be used for transactions.

Selfkey

This is a wallet, created and stored on a smartphone which can be backed up on a computer. KEY is a nonprofit organization that runs a decentralized network on top of the Ethereum protocol. Identities can be used to verify contracts, identification, and process value-based transactions.

How it works. Users create their own wallets and store it on their device, making a private key to encrypt their information, not even the Selfkey can access it. Within the wallet, they can upload ID documents such as a driver’s license, bank documents, and immigration papers. The KEY network authenticates documents with the help of official entities like governments or banks. Information is stored securely in the wallet, allowing specific data to be shared - such as age - without divulging other identity indicators.

Final Thoughts on Decentralized ID’s

To recap, we analyzed the inherent weaknesses in centralized ID storage and passwords demanded by traditional server-based websites. Blockchain does offer solutions to the pain points associated with trusting 3rd parties with private ID’s. Several companies are building cryptocurrencies to help turn traditional ID’s into decentralized ones.

Unfortunately, none of the aforementioned blockchain “solutions” actually solve the ultimate problem with using an ID - the need for government institutions to be part of the process. For applications like crypto-exchanges, value transactions, and in some cases, contracts, there is no inherent need to verify exactly who some are. There only needs to be a transaction verification. Replacing user authentication with private keys of anonymity is the ultimate user ID.