{"id":685,"date":"2018-09-02T22:08:40","date_gmt":"2018-09-03T02:08:40","guid":{"rendered":"https:\/\/www.amp.legal\/blog\/?p=685"},"modified":"2018-09-03T12:11:28","modified_gmt":"2018-09-03T16:11:28","slug":"blockchain-entry-grows-risks","status":"publish","type":"post","link":"https:\/\/www.amp.legal\/blog\/blockchain-entry-grows-risks\/","title":{"rendered":"Blockchain Entry Grows With Risks"},"content":{"rendered":"

New platforms give a growing business the chance to develop their own blockchain technologies. However, as blockchain\u00a0entry becomes more reachable for businesses, many platforms are failing. Business managers should carefully survey their options while also considering the downfall of many blockchain products.<\/p>\n

\"\"AWS Offers Ethereum Platform<\/h3>\n

An article from CoinCentral, Partnering with ConsenSys, Amazon Web Services Launches Kaleido Blockchain Platform<\/em><\/a>, by Colin Harper, explains how companies can access blockchain technologies with lower obstacles. Amazon is partnering with ConsenSys, an Ethereum incubator<\/a> that developed the Kaleido<\/a> blockchain platform.<\/p>\n

Kaleido uses a \u201cprivate-public approach\u201d to provide the security of a public blockchain and the flexibility of a private network. This \u201call-in-one blockchain platform\u201d promises to lower financial and technical barriers of entry for businesses. Kaleido is available<\/a> in the Amazon Web Services (AWS) suite of applications.<\/p>\n

Hundreds of Crypto-Failures<\/h3>\n

Ethereum remains a popular blockchain platform with investors and developers, but so far, hundreds of crypto endeavors have collapsed. Some of these failures utilized the Ethereum platform<\/a>.<\/p>\n

MintDice<\/a> listed the top five crypto failures:<\/p>\n

    \n
  1. DAO<\/strong> (Decentralized Autonomous Organization) \u2013 began with enthusiasm as an Ethereum-based coin, but an attacker exploited a smart contract vulnerability that lost more than $50 million.<\/li>\n
  2. PayCoin<\/strong> \u2013 presented a white paper for new variations of blockchain technology, but a federal investigation led to its downfall.<\/li>\n
  3. Dogecoin<\/strong> \u2013 began as a joke, but it grew into a passionate community until it\u00a0started to collapse.<\/li>\n
  4. GetGems<\/strong> \u2013 created a bitcoin-based mobile messaging app that pays social networkers to watch ads, but it is losing to competitors.<\/li>\n
  5. SpaceBit<\/strong> \u2013 planned to provide a global blockchain by launching \u201cnano-satellites\u201d into orbit, but the project has not left the ground yet.<\/li>\n<\/ol>\n

    The failures show that cryptocurrencies<\/a> continue to be very risky even when they appear to be doing well.\u00a0The website DeadCoins<\/a> wants \u201cto clean up crypto\u201d by maintaining a running list of failures. The site allows contributors to \u201cadd a dead coin\u201d and also debate entries.<\/p>\n","protected":false},"excerpt":{"rendered":"

    New platforms give a growing business the chance to develop their own blockchain technologies. However, as blockchain\u00a0entry becomes more reachable for businesses, many platforms are failing. Business managers should carefully survey their options while also […]<\/p>\n","protected":false},"author":1,"featured_media":686,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[92,59,34,60,93],"yoast_head":"\nBlockchain Entry Grows With Risks - Cyber Law Blog<\/title>\n<meta name=\"description\" content=\"Cyber Law Blog explores legal topics with technology including privacy law and cybersecurity.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.amp.legal\/blog\/blockchain-entry-grows-risks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blockchain Entry Grows With Risks - Cyber Law Blog\" \/>\n<meta property=\"og:description\" content=\"Cyber Law Blog explores legal topics with technology including privacy law and cybersecurity.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.amp.legal\/blog\/blockchain-entry-grows-risks\/\" \/>\n<meta property=\"og:site_name\" content=\"Cyber Law Blog\" \/>\n<meta property=\"article:published_time\" content=\"2018-09-03T02:08:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-09-03T16:11:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.amp.legal\/blog\/wp-content\/uploads\/2018\/09\/GeoDesign.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Alice M. 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