Natural Medicine and Supercomputing Team Up to Combat COVID-19 – HPCwire

Around the world, supercomputers have been furiously poring over drug compounds to see if any of them could effectively inhibit COVID-19s insidious spike proteins, which give the virus both its crown-like appearance and its ability to enter human cells. Now, researchers from the University of Alabama in Huntsville (UAH) are leveraging supercomputing power to tackle a similar question but this team is looking specifically at naturally occurring compounds.

The researchers, led by Jerome Baudry (a molecular biophysicist at UAH), used molecular docking simulations to examine how 50,000 different natural products interacted with COVID-19s key proteins. To assess these tens of thousands of candidates, the researchers partnered with HPE, which provided supercomputing resources. Specifically, the researchers used HPEs Sentinel system a Texas-based Cray XC50 supercomputer with around 2,000 cores that is cloud-accessible via Microsoft Azure.

With the computing power in-hand (or rather, in-cloud), the researchers were able to complete 20,000 molecular dockings in just eight minutes (down from 24 hours), allowing for 1.2 million more dockings per day. The docking simulations yielded 125 natural products or close derivatives across plants, fungi, the sea and microbes that possess chemical elements which bind to key proteins on COVID-19. The identified substances span the world, including chemicals found in traditional medicine in regions like Southeast Asia and the Andes in South America. Mesua beccariana, the source of one of the candidate substances, has traditionally been used to treat fever, dyspepsia and other conditions in Malaysia. These candidates will now progress to the next stages of preliminary drug development.

The combination of the powerful supercomputing technology and expertise from HPE, molecular docking methodology, and a large, diverse data-set of natural products, is what makes this research truly unique, Baudry said. We predicted a range of natural products that can now move forward in clinical drug testing, some of which can be found in extracts that come from organisms that grow in our backyards, and some that can only be discovered in remote areas of the world such as in jungles or in the deep sea. We are inspired by these results and it is only the beginning of our journey to unlock more insight that will bring us even closer to conquering COVID-19.

The results arent, of course, a silver bullet.

None of these natural products are expected to single-handedly be used as a treatment or cure to COVID-19, Baudry said. Instead, it is the combination of the chemical structures from this list that are beneficial to drug testing to develop a treatment.

The researchers are also adamant that overeager readers not turn to self-medication.

I repeat, Baudry said, these organisms or chemicals should not be used as treatments against COVID-19.

Header image: the molecular docking simulations in action. Image courtesy of UAH.

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Natural Medicine and Supercomputing Team Up to Combat COVID-19 - HPCwire

Phase-3 Clinical Trial of MT-7117 INITIATED IN THE US for Rare DiseaseS, Erythropoietic Protoporphyria (EPP) and X-Linked Protoporphyria (XLP) | Small…

DetailsCategory: Small MoleculesPublished on Saturday, 20 June 2020 18:09Hits: 570

MT-7117 Receives Orphan Drug Designation from FDA

JERSEY CITY, NJ, USA I June 19, 2020 I Mitsubishi Tanabe Pharma America, Inc. (MTPA) today announced that Mitsubishi Tanabe Pharma Development America, Inc. (MTDA) has initiated a Phase-3 clinical trial in the U.S. of the selective melanocortin 1 receptor (MC1R) agonist), MT-7117 (dersimelagon), an investigational oral therapy being studied as a possible treatment option to increase pain free light exposure in adult and adolescent patients with a history of phototoxicity (including severe pain on exposure to sunlight) from erythropoietic protoporphyria (EPP) or X-LinkedProtoporphyria (XLP).1

MTDA was granted Orphan Drug Designation for MT-7117 by the U.S. Food and Drug Administration on June 8, 20202, and received Fast Track Designation in June 2018.3

"Mitsubishi Tanabe Pharma group companies are working hard to advance research and development activities to deliver new therapy options that address the needs of patients fighting serious diseases," said Atsushi Fujimoto, President, Mitsubishi Tanabe Pharma America, Inc. "Through further clinical development and potential regulatory approval, this investigative oral treatment could provide another option for patients with EPP or XLP."

The global Phase-3 study (NCT04402489) is a multicenter, randomized, double-blind, placebo-controlled study to evaluate efficacy, safety, and tolerability of MT-7117 in approximately 159 people (age 12-75 years) with EPP or XLP over a 26-week treatment period.4 The primary objective of the study is to investigate efficacy of MT-7117 on time to first onset of prodromal symptoms associated with sunlight exposure in adults and adolescents with EPP or XLP.4 The Phase-3 study design will leverage experience and knowledge obtained from an earlier Phase-2 study.

The Phase-2 study (NCT03520036) was a randomized, double-blind, placebo-controlled study to assess the efficacy, safety, and tolerability of MT-7117 in 102 people (age 18-75 years) with EPP.5 The study consisted of a two-week screening period, a 16-week double-blind treatment period and a six-week follow-up period at Week 22.5

About MT-7117 (Dersimelagon)MT-7117 is a novel synthetic, orally-administered, non-peptide small molecule, which acts as a selective agonist of melanocortin-1 receptor (MC1R) with a potential for being effective to increase pain free light exposure in patients with a history of phototoxicity from erythropoietic protoporphyria (EPP) and X-Linked Protoporphyria (XLP). Mitsubishi Tanabe Pharma Corporation (MTPC) is developing MT-7117 as a potential treatment option for EPP or XLP. MT-7117 is an investigational medication and not approved by FDA or any other regulatory authority.

About Erythropoietic Protoporphyria and X-Linked Protoporphyria Erythropoietic Protoporphyria (EPP) is an inherited disorder of the heme biosynthetic pathway that results from mutations of the ferrochelatase (FECH) gene or, less commonly X-Linked Protoporphyria (XLP) that results from mutations in the aminolevulinic acid synthase-2 (ALAS2) gene.1 Both EPP and XLP are characterized by accumulation of protoporphyrin in blood, erythrocytes and tissues and cutaneous photosensitivity.1 EPP and XLP usually present early in childhood with extremely painful phototoxic reactions which are preceded by a prodrome of tingling, stinging, and/or burning of sun-exposed skin.1 The onset of prodromal symptoms after direct sun exposure varies but may occur in less than 10 minutes.6,7 Importantly, continued exposure to sunlight following the onset of prodromal symptoms will lead to phototoxicity-induced pain.8

About Mitsubishi Tanabe Pharma America, Inc.Based in Jersey City, N.J., Mitsubishi Tanabe Pharma America, Inc. (MTPA) is a wholly-owned subsidiary of Mitsubishi Tanabe Pharma Corporation's (MTPC) 100 percent owned U.S. holding company, Mitsubishi Tanabe Pharma Holdings America, Inc. MTPA is dedicated to delivering innovative products that address the unmet medical needs of patients in North America. It was established by MTPC to commercialize approved pharmaceutical products in North America with plans to expand its product line through collaborations with partners. For more information, please visit http://www.mt-pharma-america.com or follow us on Twitter, Facebookand LinkedIn.

About Mitsubishi Tanabe Pharma Development America, Inc.The U.S. headquarters of Mitsubishi Tanabe Pharma Development America, Inc. (MTDA) is located in Jersey City, New Jersey. MTDA is a wholly-owned subsidiary of Mitsubishi Tanabe Pharma Corporation's 100 percent-owned U.S. holding company, Mitsubishi Tanabe Pharma Holdings America, Inc. MTDA is dedicated to research and develop innovative pharmaceutical products that address the unmet medical needs of patients. For more information, please visit https://mt-pharma-development-america.com/

Overview of Mitsubishi Tanabe Pharma Corporation Mitsubishi Tanabe Pharma, which was founded in 1678, has its headquarters in Doshomachi, Osaka, which is the birthplace of Japan's pharmaceutical industry. With business centered on ethical pharmaceuticals, Mitsubishi Tanabe Pharma is a well-established company with one of the longest histories of pharmaceutical companies in Japan.9 In accordance with the corporate philosophy of "contributing to the healthier lives of people around the world through the creation of pharmaceuticals," the Company formulated the key concept of Open Up the Future under the Medium-Term Management Plan 2016-2020. Through the discovery of drugs that address unmet medical needs, centered on its priority disease areas immune-inflammation diseases, diabetes and kidney, central nervous system, and vaccines Mitsubishi Tanabe Pharma will strive to contribute to the health of patients around the world. MTPC is the parent company of MTPA and MTDA. For more information, go to http://www.mt-pharma.co.jp/.

1 NIH website: https://rarediseases.info.nih.gov/diseases/4527/erythropoietic-protoporphyria2 FDA website: https://www.accessdata.fda.gov/scripts/opdlisting/oopd/detailedIndex.cfm?cfgridkey=645518 3 MTPC Press Release: https://www.mt-pharma.co.jp/e/release/nr/2018/pdf/e_MTPC180727.pdf4 ClinicalTrials.gov. U.S. National Library of Medicine: https://clinicaltrials.gov/ct2/show/NCT04402489 5 ClinicalTrials.gov. U.S. National Library of Medicine: https://www.clinicaltrials.gov/ct2/show/NCT03520036 6 Balwani M, Naik H, Anderson KE, Bissell DM, Bloomer J, Bonkovsky HL, et al. Clinical, biochemical, and genetic characterization of north american patients with erythropoietic protoporphyria and X-linked protoporphyria. JAMA Dermatol. 2017 Aug 1;153(8):789-96. 7 de Bataille S, Dutartre H, Puy H, Deybach JC, Gouya L, Raffray E, et al. Influence of meteorological data on sun tolerance in patients with erythropoietic protoporphyria in France. Br J Dermatol. 2016 Oct;175(4):768-75.8 American Porphyria Foundation: https://porphyriafoundation.org/for-patients/types-of-porphyria/epp-xlp/ 9 Research by TOKYO SHOKO RESEARCH, LTD.

SOURCE: Mitsubishi Tanabe Pharma America

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Phase-3 Clinical Trial of MT-7117 INITIATED IN THE US for Rare DiseaseS, Erythropoietic Protoporphyria (EPP) and X-Linked Protoporphyria (XLP) | Small...

How does the body fight COVID-19? U of T researcher’s work could aid vaccine development – News@UofT

JenGommerman, an immunologist at the University of Toronto, wants everyone to know one important point about the COVID-19 pandemic: The human immune system is working to fight off this novel coronavirus.

Many thousands of people have died from the virus. But many more thousands have contracted it and survived. That is because when the virus first enters your body, usually through your nose or mouth, it triggers the immune system to send antibodies in response. Antibodies are proteins in your blood that your body uses to fight infection. In diseases such as chicken pox, the antibodies usually prevent you from getting the illness again. The formal term for the generation of antibodies is a humoral immune response.

But COVID-19 the illness caused by the SARS-CoV-2 virus is puzzling scientists with some challenging questions: If a person recovers from COVID-19, will the antibodies keep that person from being infected again? Why dont some people show symptoms? What happens as soon as the virus enters the body?

Gommerman, a professor in the department of immunology in the Faculty of Medicine, has received support from the Ontario COVID-19 Rapid Research Fund to conduct research in collaboration with an interdisciplinary team of scientists to answer these and other questions.

She emphasizes that the greatest challenge in understanding anything to do with COVID-19 is the fact that it is new.

Understanding how SARS CoV-2 induces a humoral immune response is vital to scientists eventually developing a vaccine, she says. But the world has only known about this virus since December or January. It is brand new. The science community doesnt fully understand yet how the immune system responds to the virus.

So my teams work will shed some light on that, which, in turn, could help with the development of a vaccine.

The provinces rapid research fund is also supporting the work ofJean-Philippe Julien, senior scientist in molecular medicine at the Hospital for Sick Children and an assistant professor in biochemistry and immunology at U of T. His projectwill usemolecular technology to develop a potent and broad antiviral treatment.

As forGommerman, she will be developing an assay (the scientific term for a test or experiment) to identify antibodies in saliva in the hopes of better understanding the early immune response when the virus enters the oropharyngeal tract (a part of the throat behind the mouth and nasal cavity).

Like so much of the COVID-19 research being conducted now, the work being spearheaded byGommermanis a collaboration with a number of other scientists at U of T and the universitys partner hospitals.

Gommermansresearch into saliva, for example, will be compared with assays being done byAnne-Claude Gingras, a senior investigator at Sinai Healths Tanenbaum Lunenfeld Research Institute and a professor of molecular genetics at U of T.

Gingras has led the development of a blood test that can detect antibodies in the immune system of infected patients. The test has the potential to enable hospitals and other institutions to screen up to 10,000 samples at once. This type of analysis is called serosurveillance the study of blood serum, especially as it relates to the work of the immune system response to pathogens entering the body.

Serosurveillanceis an important weapon in our fight against COVID-19,Gommermansays. It has the power to tell us what is the true scope of the pandemic. This is what the blood experiments at Mount Sinai get us.

For the saliva experiments, we will learn more about what is happening early in the immune response in asymptomatic patients in the oropharyngeal tract where the virus is first introduced. This has the potential to reveal what aspects of the immune response might confer protection to those people who never show symptoms or only show mild symptoms.

Key to understanding the early immune response is a collaboration withDarrell Tan, an infectious diseases physician and clinician-scientist at St. Michaels Hospital. Tan, who is also an assistant professor in U of Ts Faculty of Medicine and at the Institute of Health Policy, Management and Evaluation at the Dalla Lana School of Public Health, is enrolling 1,000 subjects, via contact tracing, who have been linked to patients infected with COVID-19. Tan and his team will test the saliva of these people regularly over a number of weeks.

The contacts are called a ring of associates.

Because the people in that ring have a higher chance of contracting COVID-19 than the general public, we will presumably have people who are just getting infected, saysGommerman. This will allow us to learn why some people dont show symptoms but still have the illness and how the early immune response actually works.

BothGommermanand Gingras are using proteins produced by U of TsJames Rini, professor in the departments of molecular genetics and biochemistry. The proteins are highly purified pieces of the SARS-CoV-2 virus that are used as bait to catch antibodies in the saliva or in the blood so that the researchers can measure them.

Without Jims work on these proteins, we wouldnt be able to go further in our research, saysGommerman. Hes been studying coronavirus proteins since SARS first hit North America in 2003. The science community doesnt know nearly as much about coronaviruses as we do, for example, influenza.

We owe a lot to researchers like Jim who have been building up a knowledge base about coronaviruses. Were relying on them now.

Further to the collaborative nature of the research,Gommermansteam is using saliva samples from patients who have had the virus, andwho have recovered. The samples were collected by:Mario Ostrowski, a professor in the departments of medicine, immunology and laboratory medicine and pathobiology at U of T;AllisonMcGeer, director of the Infectious Diseases Research Unit at Mount Sinai Hospital and a U of T professor in the departments of medicine and laboratory medicine and pathobiology (LMP), as well as at the Dalla Lana School of Public Health; andSamiraMubarekaan assistant professor in the department of laboratory medicine and pathobiology who is at Sunnybrook Health Sciences Centre.

The multidisciplinary nature of the research is what enabledGommermanto pivot from her usual work on autoimmune diseases, especially multiple sclerosis, and gut immunology. The ability to draw on the skills and experiences of members of her team was also key.

Our research associate, Dr.Olga Rojas, had worked on saliva antibodies to a disease called rotavirus when she was studying in Columbia, South America.

Also key to the pivot were three first-year doctoral students BaweletaIsho,Annie PuandMichelle Zuo.

I didnt want to pull more senior students from their doctoral work, so I asked these first-year students to help with the work,Gommermansays. Theyve been amazing, as well as our project manager, Dr.Gary Chao,who organized all the samples and made sure we were compliant from a biosafety and ethics perspective. This was urgent work and they all rose to the occasion under a lot of pressure.

with files from Amanda Ferguson

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How does the body fight COVID-19? U of T researcher's work could aid vaccine development - News@UofT

University of Liverpool-led initiative awarded 2.2m funding – National Health Executive

19.06.20

A research initiative to rapidly identify potentially game-changing Covid-19 drugs, led by the University of Liverpool, has been awarded funding of more than 2.2m.

With conventional evaluation of new medicines being a lengthy processes, typically taking upwards of 10 years, new methods have had to be adapted and developed to meet the urgent need for treating and preventing the currentcoronavirus outbreak.

Already there is a number of ongoing large-scale clinical trials testing a first wave of repurposed medicines, such as Ebola medicine remdesivir, HIV drug lopinavir and malaria treatment hydroxychloroquine, to see if they could have similar positive impacts in treating Covid-19.

Yet, should these compounds fail to demonstrate clear benefit, a more broad and increasing range of alternative compounds many with far less clinical evidence available will have to be examined. Processes like these will require an ability to rapidly provide clinical proof-of-concepts for drug candidates emerging from global pre-clinical screening efforts. Dynamic early stage (phase I/IIa) clinical trials will be required to advance, ahead of time, plausible candidates for inclusion in randomised phase III clinical trials, and to eliminate candidates with little or no prospect of clinical success before huge resources are committed.

The AGILE Covid-19 Drug Testing Initiative, which is being led by the University of Liverpool and involving researchers from the Liverpool Tropical School of Medicine, Southampton Clinical Trials Unit and NIHR Liverpool and Broadgreen Clinical Research Facility, has been established to enable the rapid clinical evaluation of potential Covid-19 therapeutics.

READ MORE:Worlds largest potential coronavirus treatments trial rolled out in UK

READ MORE:University Hospital Southampton trialling new coronavirus drug

Saye Khoo, Professor of Molecular and Clinical Pharmacology at the University of Liverpool, said: AGILE uses the most modern and innovative statistical methods which allows for multiple drugs to be tested in parallel, and to remove or add treatments faster than ever before, based on results of safety and efficacy.

This has the advantage of testing more treatments, more quickly, to find out which new drugs are suitable for large-scale testing in COVID-19 patients. This is similar to fast track programmes for treatment of cancer patients that are approved by the UK regulator.

Andrew Owen, a fellow Professor of Molecular and Clinical Pharmacology at the University of Liverpool, added: Working closely with established consortia including key stakeholders involved in WHO-led expert groups for treatment and prevention of COVID-19, AGILE will advance plausible candidates for these consortia to test in large-scale trials.

AGILE has been specifically designed to rapidly identify drugs that stand the best chance of success in the battle against COVID-19.

The AGILE clinical research trials will be taking place at the NIHR Royal Liverpool and Broadgreen Clinical Research Unit based at the Royal Liverpool University Hospital. The unit provides state of the art purpose-built facilities that offer a safe and regulated environment to perform clinical research trials to the highest possible standards.

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University of Liverpool-led initiative awarded 2.2m funding - National Health Executive

Is Zac Efron the latest celeb to move here? – Byron Shire News

ZAC Efron, teenage heart-throb of the early 2000s and star of American media franchise High School Musical, could be the latest Hollywood actor to call Byron Bay home.

Speculation is rife after the 32-year-old actor was reportedly spotted around town numerous times in recent weeks.

SUNDAY TELEGRAPH SPECIAL. Zac Efron as seen in instagram posts. https://www.instagram.com/p/Bz6IuYQFgDf/?hl=en

Efron began acting professionally in the early 2000s and rose to prominence for his leading role as Troy Bolton in the High School Musical trilogy.

His latest films to hit the big screen include The Greatest Showman and Extremely Wicked, Shockingly Evil and Vile, where he played serial killer Ted Bundy.

A new action series produced by the actor, Killing Zac Efron, is in post-production.

This adventure series will show the actor venturing "deep into the jungles of a remote, dangerous island to carve his own name in expedition history", according to IMBD.

The actor confirmed he fell ill while fliming the series after media had reported that Efron was flown by helicopter for treatment in Australia after contracting a bacterial infection, possibly typhoid.

https://chp.edtech.news.com.au:443/CHP/JSP/Drop/Drop.jsp?user=burkej1&service=Drag_To_Application&db=CHP&r=1592358935295&id=NEWSMMGLPICT000192245750&eomImport=http%3A%2F%2Fmain-prod-meth03-core.edtech.news.com.au%3A6410%2Fchp%2Fchp2methode.jsp&wsurl=http%3A%2F%2Fprd-otwebservicesvip.news.newslimited.local%2FCMIS%2Fatom%2FOpenTextCHP&eomFileName=NEWSMMGLPICT000192245750.unknown&eomMimeType=picture&title=(Sent%20to%20Methode%3A%20meth03)&j=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%3D

IMBD also lists Efron is involved in a comedy drama is in pre-production stage called King of the Jungle, which follows the story of software engineer and former NASA programmer, John McAfee.

In any case, we are fans of you, Zac, and hope you enjoy your stay on the Northern Rivers.

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Is Zac Efron the latest celeb to move here? - Byron Shire News

GLOBAL China Nanotechnology in Cancer Treatment MARKET 2020 (IMPACT OF COVID-19) FORECAST OVER 2020 2027 | KNOW ABOUT BRAND PLAYERS Abbott…

Global China Nanotechnology in Cancer TreatmentMarket 2020-2027

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The key manufacturers covered in this report are @ Abbott Laboratories, Nanosphere Inc., Sigma-Tau Pharmaceuticals Inc., Combimatrix Corporation, Merck & Company Inc., GE Healthcare, Celgene Corporation, Mallinckrodt Plc, Johnson & Johnson, Pfizer, and Inc.

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TABLE OF CONTENT

1 Report Overview

2 Global Growth Trends

3 Market Share by Key Players

4 Breakdown Data by Type and Application

5 United States

6 Europe

7 China

8 Japan

9 Southeast Asia

10 India

11 Central & South America

12 International Players Profiles

13 Market Forecast 2020-2027

14 Analysts Viewpoints/Conclusions

15 Appendix

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GLOBAL China Nanotechnology in Cancer Treatment MARKET 2020 (IMPACT OF COVID-19) FORECAST OVER 2020 2027 | KNOW ABOUT BRAND PLAYERS Abbott...

Kitchener based nanotechnology company receives over $290K in funding for COVID-19 fight – KitchenerToday.com

Nicoya is one of four Canadian companies that was selected to receive a grant through the National Research Council of Canada Industrial Research Assistance Program.

They received over $290,000 to fight current and future outbreaks of COVID-19.

With this funding, they are working to develop a saliva-based test called 'Atlas'. Upon its development, it will be able to detect viral infections in real-time, allowing for testing to take place outside of labs, hospitals, and clinics.

The company'sgoal is to produce lab-quality test results to an app in under 20 minutes.

The test will be more accessible and affordable for everyone, as it eliminates the need for complex and expensive equipment.

Those who use the test will have the option to share individual test results with public health databases to allow for seamless infection tracking and tracing in communities.

Nicoya is working to make the testing process versatile as well. With a goal to test for both active and prior viral infections.

They are hoping to meet the testing needs for COVID-19 and any future pandemics.

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Kitchener based nanotechnology company receives over $290K in funding for COVID-19 fight - KitchenerToday.com

The Best Ceramic Coating For Cars – Reviewed And Ranked – Top Speed

Avalon King Armor Shield IX DIY Kit

The Avalon King Armor Shield IX DIY kit is one of the best ceramic coatings for your car. The highly durable transparent coat utilizes the latest in nano-technology. The transparent coat is not only durable it can last up to three to five years but its also mud repellant, scratch-resistant, and hydrophobic, among other qualities. Its remarkably easy to use, too. Just follow the clear-as-day instructions and youre well on your way to turning your car into a spotless, sparkling ride. The Armor Shield leaves zero spots on your car and it doesnt require any form of buffering. Simply put, the Avalon King Armor Shield IX DIY Kit is the best solid coating you can get for your car. Its admittedly pricey at $70, but for the amount that youll pay, youll receive the best ceramic coating for your car. Thats a great trade-off.

The CarPro Cquartz 50 ml Kit is one of the few ceramic coating products for cars that can give the Avalon King Armor Shield IX DIY kit a run for its money as the best ceramic coating product in the market. The Cquartz boasts an advanced coating formula thats been used by professionals and car owners alike all over the world. Not only does it offer protection from the elements, but its coating provides the kind of gloss look thats second to none in the market.

The ease of its application is also one of the products hallmarks. You dont need a complicated machine to apply this polish, and you dont even need a lot of effort to do it, too. Best of all, the Cquartz coating lives up to its name, thanks to its high percentage of purity and the 70 percent of quartz that it comes with. Apply the product on your car and it will be resistant to bird dropping damage, wash induced marring, stains, traffic film, and even from unpredictable weather temperatures.

Using 9H nanotechnology that ensures that your cars gloss remains in pristine condition for up to five years, the Color N Drive Ceramic Coating Kit ensures a shiny glossy finish that also keeps your cars safe from avian droppings, scratches, iron powder, stone chips, and UV light fading.

Like most of the ceramic coating for cars on this list, the product is very easy to use. You only need a single coat to get the desired finish. The whole kit comes with a pair of bottles, one for spraying and another for extra polishing. Theres even a premium coated sponge that helps spread the paint sealer more evenly while also preventing scratches on your car.

The Reload Spray Sealant is the second product on this list to come from CarPro. Just like the CarPro Cquartz 50 ml Kit, the Reload Spray Sealant provides unparalleled car protection from the elements. Its safe for all surfaces and it has the ability to get rid of water and dirt on your car surface. Its also a versatile product; it can be used on other surfaces, including glass, rubber, and yes, even plastic.

It can also be applied on both dry and wet vehicles, ensuring that your cars paint looks as clean and as crisp as it possibly can be. The Reload Spray Sealants ceramic plaint coating is known for being one of the best of its kind in the market, in part because of how widely used it is among car owners and professionals all over the world.

The nano-coating formula in this product comes with advanced polymer protection that helps keep your cars exterior surface protected for long stretches. All it takes is a single application for your car to not only look shiny but, more importantly, to be protected from outside elements that could ruin your cars exterior surface.

In keeping with its highly advanced composition, the Shield One Advanced Nano Hydrophobic Coating features nanotechnology, which is responsible for forming tight bods that makes your cars surface clean, smooth, and even. Dirt and water have no chance of latching on your cars surface if the latter is protected by the product. Its not just car surfaces. It can also be used on computer monitors, tablets, mobile phone glasses, and windows, among other things.

The Sonax Ceramic Coating comes in one of the best packages youll find among ceramic coating for cars. It provides top-level ceramic coating that has been formulated to produce a slick floss effect, not to mention long-lasting protection for the surface of your car. Whether its tar, road salt, pollution, or even UV lights, your car will be protected from all these elements thanks to the Sonar Ceramic Coating.

Applying the product is also easy; you can be a first-timer in applying ceramic coating on your car and you wont have any problems accomplishing the task if you follow the simple application instructions. All the tools and products you need are already included if you buy the kit.

Nanotechnology is a recurring theme among ceramic coating for cars, and its no different with the Nano Bond Ceramic Coating Car Care Kit. The product features a nanotechnology system that acts as protection against elements such as sunlight, rain, wind, and the occasional bird doo-doo. Even better, the nano-ceramic coating is superhydrophobic, which means that you dont have to clean it every day. It even comes with an anti-scratch 9H diamond hardness, which is regarded as the best of its kind in the market. Whether its chips, scratches, rust, or even acid rain, your car is protected from all these elements with the Nano Bond Ceramic Coating Car Care Kit.

Customer satisfaction is important when it comes to car care products and the Ethos Handcrafted Car Care Ceramic Wax is regraded as the glossiest, slickest, and easiest sealer in the market today. The Ceramic Wax Top Coat also has an ace up its sleeve called silica infusion technology. This tech provides a level of shine, clarity, and all-around protection that no other brand can match. It helps protect your car from all the elements that its subjected to. It doesnt matter if its water spots, contaminants, UV rays, or all sorts of scratches, dings, and chips. The Ceramic Wax Top Coats silica infusion technology repels them with relative ease.

With proper maintenance, the products paint coating can keep your cars surface spic and span for a period of up to one year. Using it is easy, too. You dont need to be an expert in ceramic coating to apply the product on your car. Its even safe for motorcycles, stage paint, fiberglass, stainless steel, windows, chrome, epoxy, and so much more.

This product is a nanotechnology-based coating product thats been formulated to bond chemically with all kinds of car paint. All it takes is a single coating and the product stays on your car and protects its surface for up to three years. Little to no maintenance is required, which counts as a bonus for those who end up buying the product. Apart from boasting a nanotech-based coating, the Nasiol ZR53 also comes with a 9H water-repellent coating at the surface and a multilayer technology that allows the layer to remain flexible underneath the paint job.

The Migliore Strata Coating is Italian named, but its a purely American product that caters directly to the American car owner. The product is what youd expect from a top-caliber ceramic coating for cars. It offers extensive protection against harmful elements. It comes with a highly durable coating thats been formulated to also protect your cars paintwork from damaging contaminants.

All you have to do is apply the product on the car and youre ensured that your cars surface will be protected for a period of up to one year from all the things that wish it harm. No more water spots, rain stains, UV rays, and all that debris. The Migliore Strata Coating will drive those away, all while turning the surface of your car into an extremely glossy work of art.

Ceramic coating is a clear coating thats applied to a cars body. It includes a liquid polymer that chemically bonds with the factory paint of the car. Once applied, ceramic coating can only be removed through abrasion.

Washing your car after ceramic coating is one of the most important things you need to do to keep your car protected as long as possible. You need to be vigilant in doing this to prevent the build-up of contaminants. A twice-a-month schedule is ideal in washing your car. You also need to use the two-bucket method in washing your car. This involves using one bucket for your wash soap and another bucket filled with water that youll use to rinse grime off your washcloth.

Applying ceramic coating can be as easy as it sounds or it can be tedious work. It depends on the product that you use. The basic principle of application, though, revolves around a multi-step process that includes washing your car, clearing any contaminants from it, and applying the ceramic coating afterward.

Ceramic coating can last anywhere from one to five years depending on the product that you use. The more sophisticated products typically last longer than the cheaper alternatives.

Ceramic coating car care kits vary in price, though most kits are priced in the $60 range. Cheaper and more expensive versions are also available.

When ceramic coating gets old or becomes really worn, it loses some of its ability to protect your car from the elements.

Maintaining the ceramic coating in your car involves washing your car religiously, ideally twice a month. Not only does this clean contaminant build-up, but it also ensures that the ceramic coating is taken cared of.

There are several products that are regarded as great ceramic coating kits. The Avalon King Armor Shield IX DIY kit is one. Other options include the CarPro Cquartz 50ml Kit, Color N Drive Car Ceramic Coating Kit, and the Migliore Strata Coating.

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The Best Ceramic Coating For Cars - Reviewed And Ranked - Top Speed

Global E-textile Market How the Market has witnessed Substantial Growth in recent years? – Jewish Life News

E-textile Market Forecast 2020-2026

The Global E-textile Market research report provides and in-depth analysis on industry- and economy-wide database for business management that could potentially offer development and profitability for players in this market. This is a latest report, covering the current COVID-19 impact on the market. The pandemic of Coronavirus (COVID-19) has affected every aspect of life globally. This has brought along several changes in market conditions. The rapidly changing market scenario and initial and future assessment of the impact is covered in the report. It offers critical information pertaining to the current and future growth of the market. It focuses on technologies, volume, and materials in, and in-depth analysis of the market. The study has a section dedicated for profiling key companies in the market along with the market shares they hold.

The report consists of trends that are anticipated to impact the growth of the E-textile Market during the forecast period between 2020 and 2026. Evaluation of these trends is included in the report, along with their product innovations.

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The Report Covers the Following Companies:JabilOhmatexSchoeller SwitzerlandSensoria

By Types:NanotechnologyBLE Technology

By Applications:Military and DefenseArchitectureSports and FitnessTransportationFashion and EntertainmentMedical and HealthcareOther

Furthermore, the report includes growth rate of the global market, consumption tables, facts, figures, and statistics of key segments.

By Regions:

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Years Considered to Estimate the Market Size:History Year: 2015-2019Base Year: 2019Estimated Year: 2020Forecast Year: 2020-2026

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Global E-textile Market How the Market has witnessed Substantial Growth in recent years? - Jewish Life News

Food Nanotechnology Market Analysis, Size, Regional Outlook, Competitive Strategies and Forecasts to 2025 – Cole of Duty

The Food Nanotechnology market study added by Market Study Report, LLC, exhibits a comprehensive analysis of the growth trends present in the global business scenario. The study further presents conclusive data referring to the commercialization aspects, industry size and profit estimation of the market. The study also illustrates the competitive standing of leading manufacturers in the projection timeline whilst incorporating their diverse portfolio and regional expansion endeavors.

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The Food Nanotechnology market report projects this business space to amass significantly modest revenues by the end of the forecast period. The research study is intrinsically inclusive of vital insights regarding the industry dynamics like the diverse risks that the business sphere is characterized by and the myriad driving forces impacting the commercialization scope of this industry, in consort with the abundant growth opportunities present in the Food Nanotechnology market.

Questions answered by the Food Nanotechnology market report with regards to the competitive terrain of this business domain:

Questions pertaining to the regional terrain of this business domain answered by the Food Nanotechnology market report:

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Questions that the Food Nanotechnology market report answers with respect to the segmentation of the vertical:

On the whole, the Food Nanotechnology market report brings forth an expansive appraisal of this business space which closely assesses not just on the regional coverage of this vertical but also presents a slew of other insights comprising the market concentration rate, market share, sales volume, profit estimation, in conjunction with the competition trends. Additionally, the research report enlists details regarding the sales channels utilized by various manufacturers to ensure that the most suitable manner of product marketing is selected. Data pertaining to the contribution of traders and distributors in the supply chain has also been documented in the study.

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Some of the Major Highlights of TOC covers:

Development Trend of Analysis of Food Nanotechnology Market

Marketing Channel

Market Dynamics

Methodology/Research Approach

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Food Nanotechnology Market Analysis, Size, Regional Outlook, Competitive Strategies and Forecasts to 2025 - Cole of Duty

Melanoma Risk and Biologic Therapy: Is There a Link? – Cancer Therapy Advisor

Immune-mediated inflammatory conditions such as inflammatory bowel disease (Crohn disease [CD], ulcerative colitis [UC]), psoriasis, and rheumatoid arthritis (RA) are frequently treated with antitumor necrosis factor-alpha (TNF-) agents. TNF- inhibitors (TNFIs) have shown significant clinical safety and efficacy profiles in these inflammatory conditions; however, the potential risks of long-term use are a consistent concern of both physicians and patients.

As the TNF- pathway plays a critical role in tumor surveillance, there is concern that inhibition of this pathway could predispose patients to certain malignancies.1 One such cancer that is of great concern with respect to the TNF- pathway is melanoma.1 As the use of TNFIs and other biologics have grown increasingly popular, there has been noteworthy research interest in the actual risk of melanoma in these patients.

When evaluating a study estimating the risk of melanoma in patients receiving TNFIs, it is critical to determine if the comparison group is either the general population or patients with inflammatory conditions treated with other systemic therapy. There is a meager number of studies specifically evaluating the latter, especially studies with IBD and psoriasis. Interestingly, Esse and colleagues recently published a systematic review and meta-analysis in JAMA Dermatology specifically evaluating the risk of melanoma in patients with IBD, RA, and psoriasis who were treated with biologic therapy compared to those who had received only other conventional systemic therapy.2

The authors identified 7 studies, all of which were published between 2007 and 2019, and were cohort studies that were conducted in several countries (United States, Denmark, Sweden, and Australia). These studies included a total of 34,029 patients who received biologic therapy compared with 135,370 biologic-naive patients who had received conventional systemic therapy. Mean patient-follow duration ranged from 1 year to 5.48 years. Most studies included TNFIs, however, there were some patients receiving abatacept and rituximab were also included in the meta-analysis.

There were no significant differences found in the pooled relative risk (pRR) estimates for patients treated with biologic therapy compared with those who were treated with conventional therapy in IBD (pRR, 1.20; 95% CI, 0.60-2.40) and RA (pRR, 1.20; 95% CI, 0.83-1.74).

All of the included studies were considered high-quality studies, according to the review authors, and there was no evidence of publication bias or significant heterogeneity in the studies across the patient groups. When specifically looking at each biologic agent individually (TNFIs, abatacept, rituximab), there remained no statistically significant difference in melanoma risk when compared with patients receiving conventional therapy. If individual RA studies were excluded, sensitivity analyses showed that the pRR continued to not be statistically significant from patients receiving conventional therapy.

A key distinguishing factor of this study was inclusion of patients with inflammatory conditions whom were biologic naive and their comparison with those receiving standard therapies. This study is interesting to juxtapose with several prior studies evaluating similar melanoma outcomes. Singh and colleagues published a similar systemic review and meta-analysis in Clinical Gastroenterology and Hepatology in 2014 that specifically evaluated the risk of melanoma in patients with IBD.3 This review evaluated 12 studies that included 172,837 patients with IBD and found a pooled crude incidence rate (IR) of melanoma in patients with IBD of 27.5 cases per 100,000 person-years (95% CI, 19.9-37). Overall, IBD was associated with a 37% increased risk of melanoma. This relative risk was higher in those patients with CD (RR, 1.80; 95% CI, 1.17-2.75) compared with those with UC (RR, 1.23; 95% CI, 1.01-1.50). This increased risk of melanoma was found to be independent of biologic therapy.

Another systematic review published by Peleva and colleagues in the British Journal of Dermatology in 2018 evaluated 8 prospective cohort studies evaluating the risk of all cancers in patients with psoriasis who were treated with biologic therapies.4 The authors found an increase in nonmelanoma skin cancer (NMSC) particularly squamous cell carcinoma but there was no evidence of increased risk of melanoma. This review was limited by the inclusion of only 1 study evaluating melanoma risk in patients treated with ustekinumab.

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Melanoma Risk and Biologic Therapy: Is There a Link? - Cancer Therapy Advisor

Skin Picking: How to Manage and Treat the Stress Disorder – Coveteur

How to address excoriation disorder during extreme stress.

I thought the office was empty, but it wasnt. I turned a corner and found a lone coworker with an embarrassed look on his face. He, too, thought he was alone, so hed picked at a pimple on his face, which was now bleeding. I felt his pain, since at the time I was suffering from the worst bout of adult acne Id ever had. My one reprieve was going to the office each day, where I had no choice but to keep my hands off my face.

After countless workers began working from home this spring, my friends have gradually revealed that theyre all struggling with the same issuethey cant stop picking at their faces. And who can really blame them? Tensions are high, to say the least, and recent events are triggering more cortisol (your fight-or-flight hormone) to flood our systems and incite stress responses, like excoriation disorder.

Also known as chronic skin picking or dermatillomania, excoriation disorder is related to obsessive-compulsive disorder and involves repeatedly picking at the skin, which can cause painful lesions as well as a disruption to daily life. Not all forms of skin picking fall into this more serious categoryin fact, most dontbut expert insight into both the causes and healing process can help anyone compulsively picking at their skin, hair, nails, or scabs begin to move forward on the path to recovery.

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Stress, stress, and more stress. Dr. Nancy Irwin, a licensed clinical psychologist, confirmed that the immense amount of stress and anxiety many people are experiencing right now are playing a two-pronged rolethey can both cause acne to develop and drive the desire to pick. Dr. Irwin noted that stress is behind about 72 percent of all illnesses and conditions, skin related or not. As the skin is our largest organ, it can hold clues as to what the person is feeling about the self and/or life at the current time, Dr. Irwin explains. The negative effects of stress on skin can manifest in conditions like acne, dandruff, itchy skin, and even hair loss. Stress can also cause flare-ups of skin issues such as psoriasis and rosacea to occur.

She notes that skin picking can become a compulsion if you do not identify the root of the problem, as well as make lifestyle changes that help you better manage your stress levels. Having a positive support system and making time for fun and self-care are a good place to start. These can involve exercising and eating healthy, enjoying leisure activities, or practicing your faith or meditation. We all have varying degrees of stress and challenges, so Dr. Irwin encourages patients to have a go-to list of how you can self-soothe and process those stressors when they present themselves. Work on building up trust in yourself that you have everything you need to weather the current challenges.

We know that picking at acne lesions, dry skin, or any part of our bodies can damage the skin, resulting in hyperpigmentation, multiple forms of scarring, disfigurement from lesions, and open wounds that might lead to further infection. Stopping the impulse to do so is easier said than done, however. Everything has a positive intent, and picking is a relief of anxiety, Dr. Irwin clarifies. But that doesn't mean its a healthy coping mechanism, [Patients that pick] are avoiding the issue [causing their stress] and compounding the belief that there is no other way to manage the pain or issue at hand.

One tactic for managing the urge to pick that Dr. Irwin recommends is asking yourself empowering questions likeIf I were able to handle this stress in my life while respecting my body, how would I do so? Who do I know that can help me? Another is seeking the counsel of those who have overcome picking-related struggles, such as in a support group. You are not alone. There are millions of others who have suffered this and overcome it. They can be excellent resources for you. If you are looking for professional help, Dr. Irwin suggests working with a therapist who concentrates in this area.

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Skin-picking disorder impacts as many as one in twenty people, with women being more commonly affected than men. After you identify the source of your stress and anxiety and seek treatment, the next step is healing the preexisting damage. Dr. Annie Chiu, board-certified cosmetic and general dermatologist, concedes that right now is an especially hard time to stop picking at your skin. She explains that stress weakens our skin barrier, which is why most skin conditions (like acne and psoriasis) tend to flare up during those moments. More lesions means you have more opportunities to pick. When you have good skin, its just not as tempting, she notes.

Weve all tried to pop the occasional pimple that we should have left alone, and watched it heal slower as a result, but serious cases of excoriation disorder can lead to more serious damage, like tissue injury, scarring, and discoloration. To heal the physical effects of picking or more extreme cases of excoriation disorder, Dr. Chiu recommends using a gentle facial cleanser followed by a soothing balm or serum to maintain skin hydration. She suggests reaching for any occlusive protectant (aka slippery balm-type products) like Aquaphor to help skin cells heal faster and create a protectant barrier. Look for ingredients such as ceramides, niacinamide, or hyaluronic acid, all of which can help build skin-health barriers. She also recommends incorporating overnight moisturizing masks and sheet masks into your skin-care routinebut be sure not to go overboard on new products, as tempting as it can be to try everything under the sun.

To address the breakouts themselves, Dr. Chiu is a fan of acne patches to cover the zit, such as COSRX Acne Pimple Master Patch, which physically blocks you from picking and contains acne-fighting ingredients like tea tree oil and salicylic acid. Says Dr. Chiu, If were actively conscious were taking care of our skin, we are not going to be as prone to want to ruin that. For those looking to heal deeper scarring, there are also in-office solutions such as cortisone injections and laser treatments. Your dermatologist will be able to recommend the best course of action depending on your current skin condition.

Below, five of our favorite products to help heal breakouts, soothe the skin, and repair damage from previous picking.

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Skin Picking: How to Manage and Treat the Stress Disorder - Coveteur

Akon City: $6 Billion Cryptocurrency City Set to Begin Construction | News – Bitcoin News

Akon City, a futuristic cryptocurrency themed city founded by famous singer Akon, is ready to begin construction, with a plan to use the akoin cryptocurrency exclusively. Phase one of Akon Citys construction will include roads, a hospital, a mall, hotels, and a school. There will also be parks, universities, a stadium, and an industrial complex.

The $6 billion city in Senegal billed a futuristic cryptocurrency themed city, founded by Senegalese-American star and philanthropist Akon, has awarded its building contract to KE International, a U.S.-based engineering firm. Akon City announced earlier this month:

Akon Citys phase 1 is expected to complete by end of 2023, and will see the construction of roads, a Hamptons Hospital campus, a Hamptons Mall, residences, hotels, a police station, a school, a waste facility and a solar power plant.

Akon, whose full name is Aliaume Damala Badara Akon Thiam, is a famous singer, songwriter, actor, and record producer. He has sold over 35 million albums worldwide and received 5 Grammy nominations for The Sweet Escape, Bartender, Konvicted, I Wanna Love You, and Smack That.

Akoin is a cryptocurrency powered by a marketplace of tools and services fueling the dreams of entrepreneurs, business owners, and social activists as they connect and engage across the rising economies of Africa and beyond, the projects website details. According to Thursdays announcement:

Akon City phase 2 will run from 2024 to 2029 and will end with a complete cryptocurrency city running exclusively on akoin cryptocurrency.

For Akon Citys first and second phases of building, KE International has secured $4 billion from investors. Dubai based Bakri & Associates Development Consultants will lead the architectural designs of Akon City under KE Internationals guidance.

Akon City will be located near Mbodime, a small coastal village in the west of Senegal, West Africa, less than an hours drive south of the new Blaise Diagne International airport in Dakar. Aimed to be a tourist city with a cryptocurrency-based economy, Akon City plans to have parks, universities, schools, a stadium, hotels, and an industrial complex fully completed by 2030. Akon first announced his plan to build Akon City in 2018, stating at the time that he was working with the Senegalese government on the project.

The city plans to exclusively use the akoin cryptocurrency, which is built on the Stellar payment network. The akoin cryptocurrency is also to be used in Mwale Medical and Technology City (MMTC), a green city based in Western Kenya, which KE International is also building. Commenced in 2014, the construction project is 85% done and expected to complete in December this year. Recently, it partnered with the Akoin platform for its blockchain-based digital transactions. Akon hopes his akoin crypto will be used all over Africa where a significant portion of the population remains unbanked but smartphones are widely used.

What do you think about Akon City exclusively using the akoin cryptocurrency? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Akon City: $6 Billion Cryptocurrency City Set to Begin Construction | News - Bitcoin News

As Bitcoin Struggles, This New Crypto Has Soared 250% To A Massive $2 Billion Valuation – Forbes

Bitcoin and cryptocurrency investors, feeling bullish amid a broad post-coronavirus crash rally, are seeing massive gains from some smaller cryptocurrencies.

The bitcoin price, under pressure since its latest attempt to breach the $10,000 per bitcoin level last week failed, is stuck on a downward trendbut other digital assets are soaring.

Following its launch just this week, decentralized finance protocol Compounds comp token has surged around 250%, giving it a market value of around $2 billion, according to some calculations.

The bitcoin price has added some 30% so far this year but bitcoin's recent rally has stalled-even as ... [+] some smaller cryptocurrencies are making massive gains.

Users of the Compound lending platform began earning comp tokens this week, with the cryptocurrency getting a boost from major U.S. bitcoin and cryptocurrency exchange Coinbase announcing it will begin listing the token.

"Once sufficient supply of comp is established on the platform, trading on our comp-U.S. dollar and comp-bitcoin order books will start in phases, beginning with post-only mode and proceeding to full trading should our metrics for a healthy market be met," Coinbase said in a blog post.

Comp has this week become the 25th most valuable cryptocurrency, according to CoinMarketCap data, with its price surging to over $200 per token, up from around $60 at the beginning of the week.

Some early calculations, which are inconsistent due to comp's immaturity, have put the total value of comp's combined tokens in circulation at a little over $2 billion.

Others, that count fewer comp tokens in circulating supply, put the cryptocurrency's value at around $500 millionin comparison bitcoin's market capitalization is just over $170 billion.

Comp, a so-called governance token that allows holders to influence the Compound protocol, are awarded every day to users of the decentralized finance platform.

Comp is currently only listed on a handful of smaller cryptocurrency exchanges, prompting some bitcoin and crypto market watchers to warn the sudden price surge could be short-lived.

"Most of comps price fluctuations are a function of the tiny float. I wouldn't read too much into the current price," Haseeb Qureshi, managing partner of Dragonfly Capital, told bitcoin and crypto industry news outlet Coindesk this week.

As the bitcoin price treads water, the comp price has soared almost 250% since it began trading ... [+] earlier this week.

Decentralized finance, often known as DeFi, has emerged as a popular growth area for bitcoin's blockchain technology, sparking a frenzy of speculation that echos the 2017 cryptocurrency and initial coin offering bubble.

DeFi platforms, blockchain-enabled systems that are often based on the ethereum network, allow for the lending and trading of cryptocurrencies and other digital assets without the need for centralized intermediaries like banks and exchanges.

"DeFi is hitting its stride and the space will continue to accelerate," research firm Delphi Digital wrote in a report out this week.

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As Bitcoin Struggles, This New Crypto Has Soared 250% To A Massive $2 Billion Valuation - Forbes

From Ethereum to Stellar, to Solana: Cryptocurrency Kin Confirms Blockchain Migration – CoinDesk

Almost a month after announcing its proposal to migrate to the Solana Blockchain, the Kin cryptocurrency project announced Friday the move had been approved by its board and community, and a transition plan would be released in the coming weeks.

The Kin Foundation said in a press release the move to Solanas blockchain was in response to a growing user base, which was hitting limitations on the Stellar blockchain fork the cryptocurrency is currently built on. According to the firm, the cryptocurrency currently has over 3 million active monthly spenders and has been integrated into 57 different, mostly mobile, applications.

App developers, node operators and the Kin Foundations board members (Ted Livingston, who founded the Kik messaging app and is the face of Kin, and William Mougayar, an author who hosts the annual Token Summit conference) voted on the proposal, which was released on Github last month.

They had already been pushing against the limits of the Stellar fork, Mougayar said

He said a rise in users meant that the Kin cryptocurrency needs to be able to process more than 100 transactions per second, which is the upper limit on the Stellar fork.

According to Anatoly Yakovenko, Solanas co-founder, the blockchain can handle up to 60,000 transactions per second on its current mainnet.

In addition to speed, Solanas natural ability to scale turned out to be a major determining factor in their (Kins) decision, Yakovento told CoinDesk.

This is also not the first time the cryptocurrency has changed blockchains. Launched by Kik in 2017, Kin was originally built on the Ethereum blockchain, but a few months later it announced that it would use Ethereum for security and the Stellar blockchain for transactions. Then in May 2018, Kin announced that it would fork Stellars blockchain to create its own.

According to the firms emailed statement, as part of the cryptos transition to Solana, the blockchain firm has also promised to give 1% of all of Solanas token supply (amounting to $3.5 million) as grants to the Kin Foundation.

Even as Kin continues to expand its user-base, the regulatory troubles it faced in the past have continued to persist.

Kin is not getting much recognition in the marketplace, unfortunately because of the SEC [U.S. Securities and Exchange Commission] darkcloud, Mougayar said.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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From Ethereum to Stellar, to Solana: Cryptocurrency Kin Confirms Blockchain Migration - CoinDesk

Cryptocurrency, Bitcoin Has Halved: What It Actually Means? – Inc42 Media

Technically, Bitcoin is to cryptocurrency what US dollar is to fiat money

In Bitcoin Halving, the number of Bitcoins rewarded for processing transactions is cut down to half

Crypto investors have already made millions through bitcoins

The situation was no less than an edge-of-the-seat thriller for crypto investors and enthusiasts on 11 May as they witnessed a remarkable event, perhaps, since the inception of Bitcoin. Though a leap year-like event, the recent Bitcoin Halving has been phenomenal because it took place with the economic backdrop akin to the Great Recession of 2008 which eventually gave birth to the cryptocurrency. It barely came as a surprise that Bitcoins value doubled from mid-Marchs approx. $4,944 to more than $9,900 as the halving date neared.

Technically, Bitcoin is to cryptocurrency what the US dollar is to fiat money. Its prices and trading volumes are used as a benchmark to gauge the performance of other cryptocurrencies. In practice, it functions like gold and is used as an investment instrument to balance the portfolio. But how does halving affect the Bitcoin and, by extension, the cryptocurrency market? Let us try and understand.

In a typical scenario, the demand-supply of fiat currency (such as the US Dollar, Euro, or INR) determines its value. It is further controlled by the regulatory policies and dependent on government reserves. Almost the same phenomenon works in the case of cryptocurrencies in a different format.

Their value is mostly determined by what people are willing to pay. It makes them susceptible to fluctuations and supply-demand dynamics. Since Bitcoin is a digital distributed ledger system, it is neither printed anywhere nor controlled by a particular sovereign body. It is mined using computational powers by miners who are then rewarded for solving complex mathematical problems. The Bitcoins blockchain, however, regulates this reward leveraging the halving method.

For the uninitiated, whenever a set of digital transactions take place forming a block on the blockchain, the individuals successfully verifying these transactions are rewarded by the network. The reward which is the main force behind the operation of the entire system comes in the form of additional Bitcoins. This is much like printing of fiat currency by a central bank. However, by design, Bitcoins blockchain cannot have more than 21 million Bitcoins. This aspect itself makes it a prized commodity.

In Bitcoin Halving, the number of Bitcoins rewarded for processing transactions is cut down to half which helps in maintaining the fixed supply of Bitcoin. Therefore, the process of halving is significant as it underpins the value of cryptocurrency.

The process is a leap year-like event that occurs after approximately 21 Mn blocks, reducing the reward supply by 50 per cent every time in a geometrical progression. Halving has taken place thrice since cryptocurrency came into being, including the recent event. The block reward before the first halving was 50 Bitcoins. The most-recent Bitcoin reward was 12.5. The third and the latest has now decreased the reward further to 6.25 coins.

From an economic perspective, cryptocurrencies like Bitcoin are the best hedge against fiat currencies which have an unlimited supply. When the supply goes down, scarcity makes the price shoot up. The principle works on similar lines of Gold but is governed completely by coding. Consequently, a parabola in Bitcoins price can be observed every four years.

From a historical perspective, each time the halving took place, it has raised the price of Bitcoin to an all-time high. The first event that occurred in November 2012 saw a surge from $11 to $1,000, while the second incident in July 2016, significantly helped to increase its value from $700 to $20,000. Both of the events indicate that while the supply of Bitcoin decreases during the process, the demand remains the same, which pushes the price up.

Despite a near-two-fold return in two months, this years halving event is expected to have its true impact when the economy recovers, thereby pouring more liquidity and driving the investor sentiments. It must be noted that these appreciating numbers come at a time when, year to date, bitcoin is performing better than the traditional commodities of investment. The assured hike in figures is mainly due to investors continual interest in bitcoin as an asset class. This steady increment could draw new players into the crypto ecosystem.

However, with rewards cut to half, the current value of $9,195 (at press time) may prove insufficient to keep less-efficient miners operating in the long run. This may result due to a shift in market dynamics.

Right now, the world is undergoing a major financial shift. Due to the pandemic-induced black swan event, the cryptocurrency has too witnessed its share of brief volatility. However, if the price of any fiat currency falls, the value of Bitcoin rises for that currency. Hence, at present, people are also leveraging bitcoin as a hedge investment to protect against the devaluation of fiat currency, which includes cash, bank savings, mutual funds, and so on.

Crypto investors have already made millions through bitcoins and the digital currency continues to attract institutional investors who perceive it as a store of value. Given the current market condition, it wont be surprising to see the bitcoin ecosystem grow further and give rise to a new class of millionaires.

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Cryptocurrency, Bitcoin Has Halved: What It Actually Means? - Inc42 Media

Its Time for Private Cryptocurrency Boards – National Review

A worker checks the fans at the cryptocurrency farming operation Bitfarms, in Farnham, Quebec, Canada, February 2, 2018. (Christinne Muschi/Reuters)Exchange-rate instability is a curse. A private currency board would prevent it.

With the onset of the coronavirus pandemic, currencies around the world took a deep dive. To name but a few casualties: Argentina, Brazil, Colombia, Iran, Lebanon, Mexico, Nigeria, Russia, South Africa, Syria, Turkey, Venezuela, and Zimbabwe. Not only have the currencies in these countries plunged, but the burden of their foreign debts has soared. Exchange-rate instability is a curse.

Indeed, currency instability, banking crises, soaring inflation, sovereign-debt defaults, and economic booms and busts all have a common source: exchange-rate instability. The ills induced by exchange-rate instability bring with them calls for policy changes. Karl Schiller, the German Finance Minister from 1966 until 1972, understood this simple fact. Schillers mantra was clear and uncompromising: Stability is not everything, but without stability, everything is nothing. Well, Schillers mantra is my mantra.

I offer a regime change that would enhance stability in the international monetary sphere: private currency boards. Just what is a currency board?

A currency board issues notes and coins convertible on demand into a foreign anchor currency at a fixed rate of exchange. As reserves, it holds low-risk, interest-bearing bonds denominated in the anchor currency and typically some gold. The reserve levels (both floors and ceilings) are set by law and are equal to 100 percent, or slightly more, of its monetary liabilities (notes, coins, and, if permitted, deposits). A currency board generates profits (seigniorage) from the difference between the interest it earns on its reserve assets and the expense of maintaining its liabilities. By design, a currency board has no discretionary monetary powers and cannot engage in the fiduciary issue of money. It has an exchange-rate policy (the exchange rate is fixed) but no monetary policy. A currency boards operations are passive and automatic: Its sole function is to exchange the domestic currency it issues for an anchor currency at a fixed rate. Consequently, the quantity of domestic currency in circulation is determined by market forces; namely, the demand for domestic currency.

A currency board cannot issue credit. It cannot act as a lender of last resort or extend credit to the banking system. Nor can it make loans to the fiscal authorities and state-owned enterprises. Consequently, such a regime imposes discipline on the economy through a hard budget constraint. As a result, when compared to countries that employ central banking, currency-board countries have lower fiscal deficits, lower debt-to-GDP ratios, lower inflation rates, and more rapid growth.

Historically, currency boards have existed in about 70 countries, and none have failed including the North Russian currency board installed on November 11, 1918, during the civil war that followed the Bolshevik revolution. Its architect was none other than John Maynard Keynes, who was a British Treasury official at the time. Today, the most notable currency board is Hong Kongs. What all currency boards past and present have in common is that they are public institutions. But, there is no requirement that currency boards be publicly owned.

For many years, my long-time collaborator Kurt Schuler and I have advocated private currency boards. In our draft law for such a regime, we proposed that its home offices and reserves be located in Switzerland and that it be governed under Swiss law. With the advent of cryptocurrencies, the prospect of our idea, or something similar to it, is close to becoming a reality. Indeed, the white paper issued by the Libra Association in 2019 explicitly states that the Libra cryptocurrency would resemble a currency board. While that is correct in broad terms, Libra stumbled out of the gate and is not yet a reality.

Central banks are clearly feeling the competitive threat posed by the prospect of private currency boards, like Libra. Indeed, a 2019 report on digital currencies by the Official Monetary and Financial Institutions Forum in London and IBM presents results from a survey of 23 central banks. Half of the respondents indicated that they perceived the widespread use of decentralized, private, digital currencies as a real threat. As the central bankers put it, private currencies would potentially disturb the global financial system and undermine the sovereignty of monetary authorities. This is nonsense. What central banking authorities are actually worried about is competition from private, stable currencies.

The prospect of private currency boards which are either backed by stable fiat currencies or gold is a promising one. The competitive forces unleashed by private currencies would be a great stabilizer.

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Its Time for Private Cryptocurrency Boards - National Review

EY Launches First-Of-Its-Kind Cryptocurrency Reporting App – PRNewswire

NEW YORK, June 18, 2020 /PRNewswire/ --Ernst & Young LLP (EY US) announced today the launch of EY CryptoPrep, a cryptocurrency application that assists with US tax filings. This new Software as a Service (SaaS), web-based product is a fully automated, enterprise-grade crypto tax engine offering step-by-step guidance through the crypto tax process.

EY CryptoPrep supports many major cryptocurrency coins and exchanges. Aggregating and reconciling transaction data, it applies appropriate tax rules to deliver a detailed account of cryptocurrency capital gains or losses. It then provides a completed Form 8949 for all applicable tax years. The core technology and service are also available to clients as a managed service through EY TaxChat and the EY Blockchain Analyzer.

"Our clients increasingly hold and trade crypto assets, creating the need for an innovative solution to address the evolving complexity around filing crypto taxes," said Marna Ricker, EY Americas Vice Chair of Tax Services. "TheEY Foundry, our internal corporate venturing unit, created EY CryptoPrep to modernize the crypto tax accounting process."

Cryptocurrency transactions trigger tax filing obligations on the basis of the resulting capital gains or losses. EY CryptoPrep calculates crypto responsibilities for the current tax year and even enables users to submit amended returns for prior years to reconcile previous tax liabilities.

"EY CryptoPrep expands our innovative portfolio of successful new digital businesses," said Chirag Patel, EY Foundry Leader. "EY CryptoPrep is another great showcase of our commitment to address the evolving needs of our clients."

About EY

EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. For more information about our organization, please visitey.com.

This news release has been issued by Ernst & Young LLP, a member firm of EY serving clients in the US.

SOURCE EY

http://www.ey.com

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EY Launches First-Of-Its-Kind Cryptocurrency Reporting App - PRNewswire

60% of Bitcoin Is Held by Entities that have Never Sold More than 25% of their BTC Holdings: Report – Crowdfund Insider

Blockchain analysis is quite useful when conducting investigations into cryptocurrency-related transactions. It has also become essential when determining whether digital asset service providers are complying with application regulatory and compliance guidelines.

Blockchain security and analysis firm Chainalysis says that it uses special software tools to analyze digital currency markets in order to find usage patterns and inform investment decisions.

The Chainalysis team argues that transparent blockchain analysis is a key benefit of cryptocurrency as a new asset class. Thats because these insights can only be derived when conducting cryptocurrency transactions which are usually recorded on transparent ledgers.

Chainalysis confirms that, as of June 2020, there are approximately 18.6 million Bitcoins that have been mined (out of an algorithmically capped 21 million).

About 60% of all Bitcoin (BTC) in circulation is currently held by entities (people or businesses) that have never sold over 25% of Bitcoin theyve ever received. These entities have also been holding onto their cryptocurrency holdings for many years, the Chainalysis team has learned.

They also found that approximately 20% of all BTC in circulation has not moved from its current set of addresses in five years or longer. They believe this may be Bitcoin that has been lost forever due to users misplacing or losing their private keys, which is the only way anyone can access their Bitcoin, or other cryptocurrency, accounts.

The Chainalysis team concludes:

That leaves just 3.5 million Bitcoin or 19% of all mined Bitcoin that moves frequently, primarily between exchanges.

Most of the Bitcoins are held by entities who treat it as digital gold: an asset to be held for the long term, the blockchain security firm claims.

They pointed out:

But this digital gold is supported by an active trading market for those who prefer to buy and sell frequently. The 3.5 million Bitcoin used for trading supplies the market, and, in interaction with the level of demand, determines the price.

They argue that more investors are now seriously considering trading Bitcoin, especially after the halving event last month, which effectively reduced the BTC supply by 50%. Chainalysis notes that BTC is becoming more scarce following the recent halving.

While several reports have confirmed that institutional investors continue to invest in the Bitcoin market, Chainalysis reveals that retail users, or those who deposit less than $10,000 in BTC on exchanges at any given time, appear to be the large majority, accounting for 96% of all transfers sent to exchanges on an average weekly basis.

Despite the presence of so many small traders, professional traders still control the liquidity of the market, accounting for 85% of all the USD value of Bitcoin value sent to exchanges, Chainalysis reveals.

Professional traders remain the most significant contributors to large market price changes, which includes Bitcoins historic price crash on March 12-13, 2020, when the BTC price fell over 50% within 24 hours..

About 60% of BTC that hasnt been lost is reportedly held by a licensed digital asset custody provider, which the Financial Action Task Force (FATF) calls Virtual Asset Service Provider (VASPs). Chainalysis has learned that the majority of digital currency exchanges fall into this particular category, along with several hosted cryptocurrency wallets.

The blockchain company argues:

[This] reflects the growth of custodial cryptocurrency businesses as Bitcoin has gone more mainstream.

They also mentioned that out of the remaining 40% of Bitcoin in circulation, which isnt presently held by VASPs, 87% has passed through a VASP at some point.

They conclude:

Most people either hold their Bitcoin on VASPs, or acquire their Bitcoin from VASPs.

More details about how traders conduct Bitcoin transactions are available here.

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60% of Bitcoin Is Held by Entities that have Never Sold More than 25% of their BTC Holdings: Report - Crowdfund Insider

Akon is planning to build a cryptocurrency-powered city in Senegal – The Spaces

16 June 2020: Rapper Akon has agreed on a $6 billion deal to build a futuristic new crypto city in Senegal.

Akon City, which will be built just outside the capital of Dakar, has been in the works for several years, with the musician announcing back in 2018 that he planned to construct a real-life Wakanda.

His ambitions look set to become a reality, as news emerges that Akon has awarded a construction contract for the metropolis.

Details are limited, but Akon City will include a hospital, mall, police station, school, and houses and hotels all designed in futuristic style, based on the renders Akon shared via Instagram.

The musician is also planning a solar power plant, suggesting the new city will prioritise green energy. Inhabitants will buy goods and services using Akons own cryptocurrency AKoins, which will form the basis of Akon Citys economy.

Reports suggest the first phase will be completed by 2023, with a second phase finishing in 2029, by which point the city is expected to be up and running.

[Via Highsnobiety; h/t CNN]

Credit: Hussein Bakri/BAD Consultant/Semer Group

Credit: Hussein Bakri/BAD Consultant/Semer Group

Credit: Hussein Bakri/BAD Consultant/Semer Group

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Akon is planning to build a cryptocurrency-powered city in Senegal - The Spaces