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Crypto Developer Quits Haven Protocol (XHV), Is it Dead?

Crypto developer quits haven protocol (xhv), is it dead?

Crypto Developer Quits Haven Protocol (XHV), Is it Dead?

Crypto developer quits haven protocol (xhv), is it dead?

Privacy-focused, stable-coin-of-sorts crypto, the Haven Protocol (XHV), appears to have been disbanded. According to Tweets from those involved in the project, one of the lead developers has disappeared with the only access to the code repository, halting development for months.

The news broke via the project’s Discord channel, with the announcement that one of the marketing team, known as @News.Cutter, was leaving the project owing to the lack of communication and prolonged silence from an anonymous developer known on Twitter as @Havendev. However, the only other cited developer on the Haven Protocol website, @Donjor, has since taken to Twitter to state that the resignation is premature, they still expect to receive access to the repo to continue development.

Haven Dev Silent for Months, Despite Updates to Crypto Road
Map

Earlier today, a member of the marketing team for niche privacy-and-stability-focused crypto, Haven Protocol, announced the so-called death of the project and their own departure from it. You can see the full post to the Haven Protocol Discord channel in the Tweet below:

According to those involved with the project, the lead developer, known as @Havendev, has enjoyed unique access to the Haven Protocol’s code repository for months. The developer has been silent both on Twitter and in terms of direct communication with community members since November last year. This has brought the integrity of the developer and wider project into question.

Since the above Discord message has circulated on social media channels, many have opined that the project is indeed bound for the scrap heap.

One Reddit user called Cryptonote-Social  stated:

“Yup, this thing is dead. stick a fork in it.”

Another responded with:

“Crazy if you think about it that the team hadn’t heard back from the dev in 3 months but continued anyway like it was business as usual.”

Curiously, the privacy-focused crypto had received fairly extensive amendments to its planned road map as recently as mid-December. In an update posted to Medium, security and centralisation issues were mentioned as the reasoning behind the delays to the main net release of the cryptocurrency.

All Might Not be Lost for “Abandoned” Cryptocurrency

Despite how damning the announcement by @News.Cutter looks for the Haven Protocol, the other cited lead developer has not given up all hope. They posted the following to the group’s Discord channel in response to the disgruntled crypto developer’s resignation post:

In one Tweet, Donjor appears to confirm that the aloof crypto developer in possession of the code repo is now back in contact with the team, after immense pressure. However, the wording is suitably ambiguous to make confirming or denying this difficult at this point.

For now, it remains unclear exactly why @Havendev has withheld the code repos. There seems to be no financial incentive to do so, despite the use of the term “exit scam” in the above Tweet. Since the development team remains anonymous, a myriad of scenarios (both nefarious and innocent) could have occurred that would delay communication between members. However, if there does turn out to be a reasonable explanation behind the prolonged silence, confidence in the project going forward will be incredibly difficult to muster once again, particularly given how rife with scams the cryptocurrency space is.

Update: Havendev has since responded in the team’s Discord channel, stating:

“Haven development has been ongoing… in light of the insane amount of FUD…I will prepare [the code] and hand it all to the team so that they can hire new devs to work on it.”

This was followed by a pledge to continue development on Haven Protocol where possible. Havendev also stated that they would prepare the handover by the end of this week.

Related Reading: About Half of 2017’s ICOs Have Failed Already

Featured Image from Shutterstock.

Published at Mon, 21 Jan 2019 21:00:29 +0000

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Do A.I. and Cryptocurrency Work Well Together?

Just because Grindelwald and Dumbledore had a deadly brawl during their quest to revolutionize magic doesn’t mean two great powers cannot be used in concert to change the world.

By Marcie Terman, founding director of XBT Corp Sarl


This could be the worst way to start an important conversation about financial technology, but stick with me, it gets more interesting. We are speaking about the world-altering technology of Artificial Intelligence as the first superpower coupled with the financial system disruptive technology of cryptocurrency — a decentralized payment system that circumvents government manipulation of currency and is forcing us to redefine the concept of money. The question is: Can these two technologies be used together to change the way ordinary people like you and me invest our money — without expiring in a shower of blue sparks? “Avada Kedavra!”

Avada Kedavra

But first, let’s take a step back and look into them as individual concepts, with respect to their relationships to investment and trading.

Artificial Intelligence

Artificial Intelligence (AI) means software that after its initial programming continues to improve its performance based on its experience of the environment it has been set to ‘learn.’ Unlike in movies, where AI is characteristically portrayed as menacing, human-destroying droids, AI software has actually bettered our lives in fields as diverse as healthcare, education, safety, transportation, and entertainment. In the field of financial trading, AI has been clandestinely used for two decades to generate profits for hedge funds, banks, and other large trading companies.

In its early days, AI trading systems relied on human intervention to provide trade execution but since the rise of electronic exchanges, AI trading has probably changed the character of the world’s markets without the general public’s knowledge.

Today, it is the hedge funds, banks and major international corporations like Goldman Sachs that are reaping the benefits from AI-based trading of forex and stock markets. These companies harness “deep learning” — evolving mathematical and statistical models of prediction and probability — to forecast the short-and-long term outcomes of various financial markets. These models, because of their nature, should be able to track the changes in market condition and therefore continue to improve their performance over time.

I Robot

Deep learning models aren’t concerned with the fundamentals of the underlying market. They work through pattern recognition, and like their human quantitative analyst counterparts seek the relationships between chart patterns and expected outcomes to generate a return. However, even the most disciplined human trader can be influenced by the fear of loss or greed which may change their trading behavior.

AI Bots, however, execute trades consistently without emotion at lightning speed directly onto the exchange, placing and closing trades on behalf of their clients. They stick faithfully to limits, never lose discipline or waver from their assigned course based on the idiosyncrasies of emotion.

Cryptocurrency Trading

Cryptocurrency trading, which until recently has been mostly centered on bitcoin, has gained momentum in recent years. Since Feb 2011, when bitcoin stood at parity with the US dollar, bitcoin has risen to where it is trading now some six years later at prices between $1,200 and $1,425. The reasons behind bitcoin’s success are many.

Coupled with its decentralized nature which protects it from all good and bad government policies; bitcoin is beginning to be seen as a viable alternative in certain countries where hyperinflation or lack of confidence in government has rendered the local currency a less attractive alternative. bitcoin is also becoming easier to manage, simpler to use, safer than carrying paper money and cheap enough to transact and carry, without needing an intermediary.

Despite the last 6 month’s remarkable price increase, bitcoin as an asset class has its share of ills, including periods of extreme market volatility. bitcoin’s limited supply coupled with the inability of governments to intervene to counteract market forces means that bitcoin reacts quickly to market bias. Take for example, the very recent bitcoin ETF buzz: bitcoin’s price trended northward comfortably ahead of the SEC’s ETF ruling amid growing optimism, hitting a peak of $1,327 a coin. But after the SEC shot down both the Gemini and SolidX bitcoin ETF projects, the price nosedived 20% before rallying within the month back to similar levels.

In addition, shorter-term fluctuations can be seen if one looks at intraday bitcoin charts. On an average BTC/USD chart, bitcoin’s value fluctuates between 10 and 15 USD every 4 hours and sometimes quite a bit higher. For many investors, such fluctuations make bitcoin an uncomfortable investment choice. However, there are day traders who use this volatility to take tidy profits out of the market on a daily basis. These are the traders who are fixed, glued to their computer monitors and mobile screens all day long, tracking the market to enter and exit positions.

intraday bitcoin charts

So we return to the original question: “Can a market as young and volatile as cryptocurrency be successfully partnered with Artificial Intelligence to produce a profitable outcome?”

With market capitalizations in the low millions up to low billions, cryptocurrency markets present too small an opportunity to interest most trading banks and hedge funds. They use the power of their deep pockets coupled with AI to generate massive profits from high-frequency trading where a few millisecond advantage over competitors can generate big returns.

This means that there is room while cryptocurrency markets are still in their infancy for AI developers to create systems that learn to identify profit opportunities in these young, highly volatile markets. And while a Goldman Sachs may snort at a market cap of 20 billion dollars, investors like you or me would be delighted with this kind of profit.

We are starting to see young talent, like the people running the Our AI Bot blog out of the UK. These types of cryptocurrency enthusiasts are coupling their Deep Learning System knowledge with innovation, imagination and an understanding of the inputs that are relevant to predicting digital currency market movement to yield what look like fairly outstanding results.

But many within the cryptocurrency space feel the markets are moving towards mainstream and already there are players like Pantera Capital and banks like Santander and Citibank that are looking at how to generate profits from the cryptocurrency markets. So the window of opportunity for individuals to benefit from what AI can do in digital currency trading is probably limited. The time to look at this opportunity is now – “Expecto Patronum!”

What do you think? Can A.I. and cryptocurrency work well together? Let us know in the comments below.


Images courtesy of Warner Bros Productions, Twentieth Century Fox Film Corporation, CryptoCompare, AdobeStock

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