Crypto Industry News:
The Windows operating system and Office have always performed the best on any pirated software platform. So it's no surprise that Microsoft, developer of both products, is working hard to introduce anti-piracy measures.
In an article published by Microsoft with researchers at Alibaba and Carnegie Mellon University, the software giant investigated a blockchain-based system to bolster anti-piracy campaigns.
As the title of the study suggests, Argus: A Fully Transparent Incentive System for Anti-Piracy Campaigns, Microsoft's new system is based on the transparency aspect of blockchain technology. Built on the Ethereum blockchain, Argus aims to provide a trustless mechanism while protecting data collected from an anonymous group of piracy reporters.
"We see this as a problem with a distributed system. The implementation process overcomes a number of inevitable obstacles to ensure security despite full transparency," reads the article.
Argus makes it possible to trace pirated content to the source using an appropriate algorithm, which is detailed in the article. Also referred to as "leak proof", each report of leaked content includes an information hiding process. This way, no one other than the whistleblower can submit the same watermarked copy without actually owning it.
Describing in detail the issue of fees for using the Ethereum network, the article explains that the team optimized several cryptographic operations "so that the cost of reporting piracy is reduced to an equivalent cost of sending ...".
Technical Market Outlook:
The ETH/USD pair is out of the ascending channel after bears had managed to push the price to the technical support seen at the level of $2,977 (local low made at $2,948 at the time of writing the article). There is a Pin Bar candlestick formation at the end of the move down to the level of $2,977, so the bulls are trying to bounce towards the nearest technical resistance seen at $3,122. Any failure to bounce above this level would likely extend the pull-back to the level of $2,914 or below.
Weekly Pivot Points:
WR3 - $3,888
WR2 - $3,615
WR1 - $3,448
Weekly Pivot - $3,162
WS1 - $3,024
WS2 - $2,746
WS3 - $2,578
Trading Outlook:
Ethereum have started the next wave up and violated the long-term target at the level of $3,000. The next long-term target for ETH is seen at the level of $4,394. Nevertheless, in order to continue the long-term up trend, the price can not break below the technical support at the level of $2,695. The level of $1,728 (61% Fibonacci retracement of the last big impulsive wave up) is still the key long-term technical support for bulls.