This is the staff of the German blockchain scene

Bear market and price losses at Bitcoin & Co. set aside: The blockchain ecosystem continues to grow. That can hardly be denied. Blockchain jobs in particular are currently in demand. In our BTC-ECHO study we examined the scene: Who earns how much where? What opportunities do young start-ups have to make money and how much can they own in total? And: How are the people who work in the German blockchain scene divided up, how are blockchain start-ups staffed?

In cooperation with BlockState, BTC-ECHO evaluated the data of over 100 companies from the German Blockchain landscape. We asked for financing models, turnover generation and location of the companies. The main findings were not surprising: With 89 companies, Berlin is by far the blockchain capital, most of them dealing with financial technologies and crypto currencies. But how is the staff made up?

Bitcoin secret start-ups: air upwards

In fact, most Bitcoin secret start-ups (in contrast to sales) are comparatively small. Here is the review by onlinebetrug. More than half of all companies reported employing 0-9 people, excluding freelancers. A slightly smaller, but still relatively large proportion of the companies surveyed are in the next larger segment: a total of 30 percent of the companies surveyed employ 10-19 people. The upper end of the scale then becomes increasingly thin: only seven percent of the German blockchain scene still employs 20-29 people. Only one start-up plays a part in the top class of the interviewees and stated that it employs 90-100 people.

The lion’s share in the cryptosoft development sector

Even though ICOs in particular are often said to do a lot of cryptosoft marketing without attaching great importance to technology: results speak a different language. On average, 40 percent of our staff work in the field of software development. Second and third places are close together: 22 percent go to management and 21 percent of the staff work in the area of analysis and research.

If you want to learn more about the German blockchain culture, you can do so on our official study page.

By the way: Although there are sometimes very few people working in the start-ups, the record in the funding amounts is 100 million euros. Blockchain developers in particular are in great demand here. If you have an itch in your fingers, check out our job exchange.

We are also constantly on the lookout for new employees. Here you can find the job offers of BTC-ECHO.

Intel: Green light for Bitcoin mining patent

Chip giant Intel received a patent for energy-efficient Bitcoin mining on 27 November. According to the company, this will reduce electricity costs and the size of the chips by up to 15 percent.

After Intel had already filed an application for a patent to optimize Bitcoin mining in March of this year, the company can now claim another success for itself. On November 27, the United States Patent and Trademark Office gave the chip manufacturer the go-ahead for a patent application filed in 2016. The patent details show how mining can be made more energy-efficient.

Increased efficiency by fixing cryptosoft parameters

The cryptosoft mining process is one of the pillars that gives Bitcoin its decentralised character and ensures consensus within the cryptosoft network. The miners solve a puzzle in a CPU-intensive process in which the SHA-256 hash of an input value must be smaller than a certain target value. ASICs, dedicated Bitcoin Mining hardware, are able to perform a large number of these hashing operations in parallel.

The patent-pending execution forms now divide the ASIC hashing process into several stages. This saves checking the hashes after each increase of the „nonce“. In this way, miners should be able to determine earlier whether an input value is suitable for the solution. According to Intel, this has the advantage that power consumption and chip size can be reduced by an estimated 15 percent.

The crypto trader has reason to be happy

Developments such as these are particularly welcome in times when Bitcoin’s share price is comparatively low. A low price puts great pressure on the crypto trader as they can no longer mine profitably. According to an estimate by Mao Shixing, the operator of the Chinese mining pool F2Pool, 600,000 to 800,000 miners have ceased mining since mid-November alone.

This is understandable if one considers the estimates of real mining costs from the recently published report by CoinShares Research. According to this, the costs for mining from a Bitcoin are around 6,000 euros, based on electricity costs of 5 cents per KWh and a hardware lifetime of 18 months. This means that mining is currently only profitable under very specific conditions, such as even lower electricity prices. It is therefore to be welcomed that further chip manufacturers are entering the market and that the market for mining hardware is no longer in the hands of a few players.

BTC-ECHO Study: Where does the German Blockchain Ecosystem stand?

How many blockchain start-ups are there in Germany? In which cities and regions does the crypto scene pulsate? And how many people work in this young industry? We get to the bottom of these questions in our study on the Blockchain ecosystem in Germany. We interviewed over 100 Blockchain start-ups and evaluated the answers. Find out how Germany is positioned in the area of blockchain and crypto currencies.

As the largest German-language medium on the topics of blockchain and crypto currencies, it is important to us to ensure clarity and overview in the dynamic crypto sector. For this reason, we have published a comprehensive study together with BlockState, a provider of blockchain-based banking infrastructure. On the basis of a detailed survey of more than 100 Blockchain start-ups on business areas, forms of financing, team sizes and much more, we have shed light on the still relatively unexplored Blockchain ecosystem in Germany.

Bitcoin revolution affects us all

Germany has lost the Web 2.0 race. The largest Internet platforms have emerged outside Germany and also outside Europe. With the Bitcoin revolution, we now have the opportunity to make up ground again: Our crypto start-ups could become the new Facebook, Google or Amazon in a few years. With the help of blockchain technology, we have the opportunity to make our medium-sized businesses fit for the future in terms of digital change. Artificial intelligence and the Internet of Things need a secure infrastructure that can process automated transactions globally and decentrally. The Internet alone cannot provide this infrastructure. Our future competitiveness will therefore largely depend on how we manage to use blockchain technology in business and society.

Time for Bitcoin loophole

Regardless of whether you are an automotive supplier from Baden-Württemberg or a logistics service provider from North Rhine-Westphalia, our export-oriented Bitcoin loophole industry can optimize its value chain with Bitcoin loophole solutions. This requires an ecosystem that enables innovation by new and young companies. The German government has therefore made blockchain technology an integral part of its digital strategy. It is now a matter of implementing what has been understood: The best framework conditions must be created for the Blockchain location Germany.

However, this can only be achieved by those who are in a position to classify the current situation. Only those who understand the present can shape the future. For this reason, we would like to use this study to lay the foundation for reaching people outside the Blockchain and Bitcoin scene. How big is the sector? Which topics are covered by the crypto start-ups? What role do ICOs play in financing? If you want answers to these and other questions, take a closer look at our study results.

Exchange Bancor loses 13.5 million US dollars in hacker attack

The Bancor Exchange platform fell victim to a hacker attack on July 9. A total of 23.5 million US dollars were stolen by the thieves in various crypto currencies. Some of the stolen tokens have already been frozen.

On the morning of July 9, Bancor published its first statement.

After they closed their Bitcoin loophole website for maintenance, it was first posted on Twitter:

„This morning, Bancor had a security breach. User Bitcoin loophole wallets were not affected. To investigate this, we switched to maintenance operations and will shortly be making a more detailed statement. We are confident to be back online as soon as possible.“

In a later statement the realization followed. The hacker or hackers captured 24,984 ETH (approx. 12.5 million US dollars), nearly 229 million NPXS (approx. 1 million US dollars) and 3.2 million BNT (approx. 10 million US dollars) with a total Bitcoin loophole value of approx. 23.5 million US dollars. The Exchange platform explained that a wallet for updating Smart Contracts was influenced to then withdraw the sums mentioned. However, user wallets are still not affected.

In the same statement, Bancor wrote that they had succeeded in freezing their own BNT tokens so that the thief could no longer take advantage of them.

Bancor also announces regarding the news spy:

„It is not possible to freeze the news spy or the other stolen tokens. However, we are now working with onlinebetrug on another crypto scam to find the stolen tokens and make it more difficult for the thief to liquidate them.“

Hard Criticism
Bancor collected $153 million from its ICO last year, making it one of the most famous decentralized exchanges (DEX).

Since the incident, there have been several voices criticizing more than just the vulnerability. Bancor is the focus of criticism and must ask itself whether decentralized platforms should have integrated emergency options in the event of a hacker attack.

In this context, links were also drawn to the DAO disaster two years ago. Even then, the question was raised as to whether intervention was in the sense of decentralization.

Charlie Lee spoke on Twitter of a „false sense of decentralization“ of the platform.

After the incident, the BNT price fell by 14 percent, but has since stabilised again. The extent to which Bancor can now recover the remainder of the stolen amount remains to be seen. Discussions about intervention in decentralized systems are continuing.

SAMPL – safe 3D printing on the blockchain

With SAMPL, value chains in the area of additive manufacturing are to be secured against counterfeiting.

Blockchain meets additive manufacturing – does it fit together and is it just a combination of buzzwords? Our colleague Maximilian Kops briefly presented this project in his report on distributors. This idea is to be deepened here a little bit.

3D printing – Blockchain meets the Bitcoin revolution review

SAMPL stands for Secure Additive Managing Platform and wants to implement an integrated security solution for additive manufacturing processes and 3D printing. The entire value creation process, from the generation of the 3D print data to the Bitcoin revolution review transfer, licensing and finally the production itself, is to be secured on the block chain. The connection to the real world is to be ensured by hardware-based safeguarding of the 3D printers themselves and by marking the end product using RFID chips.

Why is this interesting? From an economic point of view, the problem is that the strength of additive manufacturing is also a risk: 3D printing enables anyone to produce 3D components of any batch size on the basis of design data. Understandably, the unbelievable potential also goes hand in hand with the concern about counterfeit protection. Particularly from the perspective of global supply chains, companies want to ensure that only authorized institutions can use production-relevant data, that only original data is used and that the number of 3D prints produced can be controlled by the customer. On the one hand, no customer wants subcontractors to be able to produce more components than agreed and, for example, supply them to market players; on the other hand, this is not just an economic argument, especially for safety-relevant components.

Smart Contracts and RFID to protect against Bitcoin loophole scam

Of course, such things are already contractually regulated in themselves. However, such contracts cannot rule out the possibility that production-related data may be misused. A technical solution that prevents such scam from the outset would create new security here.

Conversely, one might ask why a supplier should use SAMPL for additively manufactured components. Why should he integrate the above-mentioned hardware safeguards into his Bitcoin loophole scam production systems? The keyword here is the „Chain of Trust“: By participating in this project, the own supply chain also becomes more transparent for the end customer.

Overall, it is interesting that SAMPL, like, ultimately designed a blockchain use case that can be touched: In the end, it’s all about real, tangible objects and products.

To achieve this, the SAMPL project relies on blockchain technology in conjunction with the secure data exchange solution OpenDXM Global X from PROSTEP AG. Blockchain technology, and in particular the use of Smart Contracts, enables digital licensing for printing a defined number of copies of a component.

The 3D printers are connected to this blockchain via so-called secure elements. Finally, RFID chips applied to the finalized component will store relevant information about the product, such as the serial number.

A consortium of various companies from Germany is working on the project: PROSTEP AG, 3D MicroPrint GmbH, consider it GmbH and NXP Semiconductors GmbH are all involved in this project. Finally, the Fraunhofer Institute for Electrical Nanosystems, the Institute for Cabin Systems at the Technical University of Hamburg, the Hamburg Research Center for Information Systems and the Institute for Distributed Systems at the University of Ulm are also represented.

As Maximilian has already reported, the idea has attracted the interest of the Ministry of Economic Affairs. In concrete terms, the project management organisation DLR, which is the administrative head of the „Digital Technologies for Business (PAiCE)“ funding programme on behalf of the BMWi, has granted the project over two million euros in funding. If you would like to know more about the project and keep up to date with publications, please visit the project homepage.

BTC price analysis – What’s the next step after the all-time high?

After the share price reached its all-time high of EUR 1,144.74 (USD 1,209.02), the price entered a bearish triangle pattern and now stands at EUR 1,098 (USD 1,159.65).

Summary: The price remained stable above the EMA100 at around EUR 991 (USD 1,048) at the beginning of the week. On February 20, the price rose above 1000 Euro and dared to rise further, reaching a new all-time high of 1,144.74 EUR (1,209.02 USD) on February 24.
The price then fell and is currently at 1,098 EUR (1159.65 USD).
We did it again: A few days ago the share price was higher than ever before.

At various points we reported that this all-time high was cracked

Of course the world goes on even after such a high. But unlike in January, when the price fell by 200 EUR within a few hours, the price has actually been quite stable so far. Yes, after reaching the highest price for Bitcoin the bulls ran out of air and you could see that people brought their profits home in almost regular intervals – which led to the Triangle Pattern which determined the time between 24th and 26th February. This triangle pattern was bearish in nature, which was also evident from the subsequent price development: The price fell to EUR 1,083.57 (USD 1,144.41) and thus also tested the EMA100. Since then, however, the price has recovered and is currently at 1,098 EUR (1159.65 USD).

The MACD (second panel from above) is negative. Both the MACD line (blue) and the signal (orange) are below zero, the latter is above the first one, so that the MACD as a whole speaks a clearly bearish language.

With 42 the RSI (third panel from above) confirms this bearish picture. Although it has been able to catch up a bit in the last few hours, the bulls are clearly having a break at the moment.

The Chaikin Oscillator (lower panel) was negative, but is currently climbing into positive territory.

The 60min chart therefore looks bearish in terms of price development. One notices that the resistance defined by the all-time high forces a price correction. However, at the moment it does not look like a dramatic development; the EMA100 has passed the first test and the EMA200 is far below that with EUR 1,059 (USD 1,118.46).

In order to be able to say more, we look at the long-term developments

The long-term price development. Let’s first look at the 240min chart:

We see that the bullish price development of the last days brought the price again into agreement with the trend pursued since January. yes, up-to-date also this trend is tested again, however it was not fallen below up-to-date yet.

In the 240min display, the indicators look to the future with bullish but still worried eyes:

The MACD is above zero, but the MACD line dropped below the signal this afternoon, which is a slightly bearish sign. We will have to see if the MACD as a whole can hold above zero. The RSI stands at 53 and is therefore only just bullish. But that was to be expected after the price had been overbought for the last two days. After all, the Chaikin oscillator is positive, but is currently falling.

Finally, let’s look at the bullish 1D chart:

The MACD is clearly positive here; both the MACD line and the signal are in positive territory. However, we will need to see if the MACD line can hold above the signal. The RSI is at 72 and is not only bullish, but overbought. However, it has been falling for two days now, so a healthy consolidation can be seen. Finally, the Chaikin oscillator is also positive and completes the bullish picture.

Even though it looks more bullish in the short term, the long-term picture is still bullish. We will have to see what the price development will be like in the next few days: Can the price hold above the EMA100 in the 60min chart or will it break through there? If so, this could have a bearish influence on the medium-term price development. Since the signals are currently still mostly positive, I am also cautiously optimistic.

Disclaimer: The price estimates presented on this page do not constitute recommendations to buy or sell. They are merely an analyst’s assessment.