Ormeus Ecosystem Named One of 5 Cryptocurrency Projects To Watch on Crypto Times Today

The Ormeus Ecosystem has been named one of 5 cryptocurrency projects to watch in by Crypto Times Today. In their article, not only does the Ormeus Ecosystem warrant specific mention in the title, the publication has this to say about Ormeus:

4. Ormeus Ecosystem (ORME)
This is potentially a huge investment as it looks set to become the World’s First Asset-Backed Blockchain Smart Economy. Ormeus is being coined as an ‘Internet of Assets’, architecturally designed to create an ‘asset first’ approach to global currency and digital life. The core concept is to use assets to stabilize underlying ecosystem currencies and features a series of inter-connected reserve vaults linked to ecosystem owned enterprises ranging from Mining, Banking, Insurance, Agriculture, Energy, Real Estate and Payments.

Price Summary: Ormeus coin (ORME) is the representation of the ecosystem value. It just saw a notable win by signing up COTI.io to build out the blockchain infrastructure. It already has assets backing the coin with an enormous mining pool and royalty payment from its successful algorithm trading business supporting the. price. A rumoured listing on Binance could propel the token higher in the coming months in addition to the launch of Ormeus Cash, (OMC).

We are pleased to see the excitement from those who are following our hard work!


Official ORME Token Swap Announcement: Swap Starts on February 10th!

Dear ORME Community:

Following the recent Cryptopia hack, we have thoroughly investigated available options for keeping our currency safe from the continued fallout from the hack and similar breaches. As a result, we will offer an upcoming token swap to help mitigate any future damage and give our community a fresh start. We are excited to announce a partnership with AirWire to execute a seamless token swap beginning on 10 February 2019.

A token swap is as simple as the concept appears with the creation of new tokens, and switching them for the currently issued tokens. The technical process is of course much more complex, which is why we have entrusted AirWire to securely host this process.

The swap will remain open through 28 February 2019 and will allow ORME holders to send and claim new tokens on a 1:1 equal exchange. The steps have been streamlined for your convenience and outlined below:

Token Swap Steps and Procedures:

1. Overview: On 10 February, ORME’s integration will be finalized and deposits will open on AirWire. Deposits will begin at 2pm Pacific Standard Time (PST).

2. Registration on AirWire: You can register on AirWire and complete KYC to begin the process. The KYC process is completed using a valid government issued ID and a selfie with that ID. A utility bill is no longer needed. It is important to note that your KYC process will remain pending but you can still make deposits onto the platform during this process. In the case your KYC fails, tokens will be returned in full.

AirWire Registration : Be sure to add contact@airwire.io to your permitted senders.

3. KYC Validation: KYC information and ORME coin totals will be accessed by both AirWire and Ormeus for dual-verification. Once approved, your KYC status will change from pending to complete. At this point, you can withdrawal and send/receive on the platform.

AirWire KYC Process — Selfie Time!

4. Issuance of New Token: During the first three steps, Ormeus will provide details of the new coin for AirWire to integrate. Details will not be released prior in order to maintain security.

5. Analysis: Once the final total of ORME tokens deposited is complete, the new token will be sent and matched on AirWire.

6. Claiming Your New Tokens: On 28 February, new wallets will be created and credited on a 1:1 basis for ORME users that participated in the swap.

7. Old ORME Tokens: Old ORME tokens will be removed from the platform after the last step is completed.



BE IN THE KNOW: Support and FAQ Updates Are Here

We thank everyone for your patience waiting for our updated FAQs!

Some questions have been updated to reflect our current status, and many questions from the community have been added.

If there are any further questions you would like to see added to our FAQs, please let us know by submitting a support ticket, emailing support@ormeuscoin.com or posting in our Telegram Community.

As they say, applied knowledge is power and here at Ormeus, we are all about giving YOU as much knowledge and information as we can. That way you can make informed decisions based on a full understanding of our progress and future vision.

Thank you for your continued support of the Ormeus Ecosystem and get prepared for an exciting 2019 and beyond.


Ormeus Cash And COTI Partner To Launch New 'Trustless' Point Of Sale System

Cryptocurrency POS System Uses New Trustless Blockchain to Reduce or Eliminate Fees, Speed Transaction Time.

NEW YORKDec. 27, 2018

Ormeus Cash (OMC) announced today a new “trustless” point of sale (POS) system that enables merchants worldwide to accept cryptocurrency payments for goods and services. Through a partnership with technology leader COTI, Ormeus Cash utilizes COTI’s “trustless” protocol in the POS system. This protocol uses a directed acyclic graph-based ledger, built from transactions connected through time and using trust-based algorithms. The trust algorithm bases its conclusions and actions on historical behavior data and objective information about the participants.

The Trustchain Algorithm can be used to validate and confirm transactions faster than traditional blockchain-based transactions. The chain grows as new transactions add to those with similar degrees of trust, resulting in an innovative, consensus-machine learning algorithm.

“Merchants hesitated to add crypto POS systems to their businesses due to high fees and slow transaction times,” an OMC company spokesperson said. “With the new OMC POS system, we’ve eliminated both fees and transaction times and improved the overall customer experience. It’s the dawn of a true global crypto payment gateway.”

Traditional blockchain-based POS struggle with slow transaction times and high fees. Most blockchains depend upon miners to confirm transactions; miners are paid a percentage of the transaction fee. The Trustchain Algorithm eliminates the need for miners to confirm transactions by using data to validate information.

Merchants worldwide have been keeping close watch on these developments. Benefits that appeal to merchants include expanded payment options, micropayment processing, secure and private payment networks, and full KYC and AML regulation. Low or no fees result in higher profits and faster payments improve cash flow. There are also fewer unnecessary declined transactions.

Consumers also receive many benefits from choosing to pay with cryptocurrency at a merchant who uses the OMC POS. Additional buyer-seller protection, instant payment, and simple peer to peer payments make giving away personal information completely unnecessary.

Ormeus Cash is an asset-backed virtual currency with a stable transaction price. The partnership with COTI builds on OMC’s platform to open new opportunities for the transaction coin. For details about OMC, please download the OMC white paper.

See the original Press Release on PRNewsWire


STANDING STRONG: Leading Industrial Crypto Miner Ormeus Increases Hash Power Capacity

AT a time when some Bitcoin mining farms are shutting down, one big-name industrial-scale miner is standing strong and increasing capacity.

Against the backdrop of the New York Stock Exchange Chairman’s announcement today that Crypto will survive and  “Bitcoin is still the yardstick”, it was revealed that leading Crypto Miner Ormeus is doubling down on its mining capacity.

The company behind Ormeus Coin (ORME) has signed a new partnership agreement to create a formidable mining ‘pool’ operation in the US and China that will make it a leading global player in hash power.

“Some might see the recent bear market as an obstacle, we see it as an opportunity, and those miners who can stick in there will benefit later,” a spokesperson for Ormeus told the Crypto Times of London.

Ormeus has hit the headlines in the past for sourcing cheap renewable energy from a hydro dam near the Niagara Falls on the American/Canadian border to power its crypto mining operation.

Bitcoin’s fundamental design ensures that if there are mining rig shutdowns, the coin’s protocol enhances incentives for miners to remain online. The mining process adjusts dynamically with a delay of about 14 days, and the latest data from Blockchain.com shows that Bitcoin mining difficulty has already declined by 5 percent within the past 72 hours.

The global price of bitcoin has plunged more than 70 percent since January, dragging the rest of the cryptocurrency market down with it. Companies involved in mining or selling mining hardware have been hit hard with numerous reports of bankruptcy.

“The game is not over by a long way,” the Ormeus spokesperson continued. “The new deal we’ve just signed for example triples the company’s current mining capacity. We believe in the future of cryptocurrency and the vision of a trustless, blockchain-based economy, so we’re in this for the long haul”.

Ormeus will be joining forces with its new partner to form a mining conglomerate, or pool, that will create a leading global player. Unlike many other cryptocurrencies, the company never held an Initial Coin Offering (ICO). Instead, it relied upon its mining capacity for profits to invest into expansion.

Revenue from the mining farms is cryptographically tied to the Ormeus Reserve Vault (ORV) through proof of asset technology and self-executing Ethereum Blockchain smart contracts, (ERC20 compliant). The result is a coin that is currently withstanding the downturn in bear market territory.

Last week, the founder of the third-largest mining pool, F2Pool, estimated that around 600,000 bitcoin miners have shut down since mid-November. Mao Shixing said the estimate takes into account the total network hash rate drop and the average hash power of older mining machines that are having a hard time generating profits.

The current crypto market is comparable to the infamous dot-com bubble of 2000 that left the global economy shaken when it finally collapsed. Speculation experts are referencing that scenario as a model for the current state of cryptocurrency. However, as Ormeus and other companies hanging tough point out, the firms that weathered the dot-com bubble eventually became the household names we revere today: Amazon, Google, eBay, and many others.

See the original article on: https://www.cryptotimestoday.com/crypto-miners-double-down-ormeus/


Cryptocurrency Miners Make Big Promises In Small Towns

Massena, N.Y., perched on the northernmost border of New York state, is the archetype of the company town that has lost its companies.

Downtown there’s a pillared town hall and a Main Street lined with stately old buildings, along with an empty union hall, a couple of banks and restaurants, and a bunch of vacant storefronts — echoes of the town’s more prosperous past.

Aluminum giant Alcoa drove the town’s growth in the 1900s, attracted by the plentiful electricity generated by a nearby hydropower dam on the St. Lawrence River. But Alcoa has downsized greatly over the last decade. General Motors and Reynolds Metal plants closed, too. Massena has hemorrhaged hundreds of jobs.

That’s why back in January, Massena’s Town Supervisor Steven O’Shaughnessy was over the moon when – rather suddenly – companies that do something called “Bitcoin mining” came knocking. “They need lots of power, and they need to be able to count on it,” O’Shaughnessy says. “And we can provide that.”

The firms promised millions of dollars in investment and hundreds of jobs.

Bitcoin…mining?

A quick primer on “Bitcoin mining”: Bitcoin is the best known of the digital or crypto-currencies – which operate completely independently of banks. Instead, they rely on powerful computers around the world to verify every transaction that uses a digital coin. People operating those computers earn new coins for doing that verification work. That’s called mining.

Hundreds of computers at Digital Skynet’s facility in Massena, N.Y., connect with millions of others around the world to process cryptocurrency transactions. That work consumes vast amounts of electricity.

So companies eager to get into the cryptocurrency game have been setting up huge warehouses full of computers all around the world to mine digital coins. Cool climates are best; the computers generate a lot of heat. But more than that, mining servers gobble up vast amounts of electricity.

According to the Digiconomist blog that follows cryptocurrencies, all the Bitcoin mining computers worldwide consume more power collectively than the entire nation of Czech Republic. And as more mining companies seek their digital fortunes, that energy consumption is only increasing.

That quest for cheap power – remember the hydropower plant on the St. Lawrence that fueled Alcoa? – is why a Hong Kong-based company called Digital Skynet Limited came to Massena and set up hundreds of computers in an old factory on the outskirts of town.

Inside a Bitcoin mine

Inside the converted factory, spokesperson Tina Barksdale, wearing a comfortable blue cardigan and slacks, points to five shelves stacked with humming, shoebox-sized computers. “Those are the miners, and as you can hear, they make a lot of noise,” she shouts above the din of large cooling fans.

Barksdale says Digital Skynet employs 20 people here now. But she imagines something much bigger – many more computers, and also the seeds of an innovation hub for the technology behind cryptocurrency, known as blockchain. She envisions a transformation for the town of Massena, “from being just Massena, N.Y, to being a cryptocurrency ‘Silicon Valley’, a place where people in cryptocurrency come,” she says.

Barksdale says there could be hundreds of new technology jobs – and the support services that go with them.

“But of course,” she cautions, “it all depends on the power.”

Tina Barksdale and her brother, Eli Barksdale, manage Digital Skynet’s cryptocurrency mining operation in Massena, N.Y. Right now, they employ about 20 people, but they envision a digital currency innovation hub in the town that would create hundreds of jobs.

A gold rush for digital coins

When the value of a traded Bitcoin soared to almost $20,000 late last year, a Bitcoin mining rush hit lots of places with cheap power, from Louisiana to Washington State.

But the job benefits were limited; it only takes so many employees to keep an eye on a bunch of computers. And in some places, the power-hungry miners started driving up electric rates for everybody else. Near Massena, the city of Plattsburgh, N.Y. put a moratorium on new mines because of rising electric bills.

So local leaders, like New York State Senator Joe Griffo, who represents Massena, began to ask, will cryptocurrency mining really create enough jobs to justify using all that electricity? And will those jobs last? “I would not dismiss [the industry] out of hand, but I think you need to look at things realistically,” Griffo says. “Where’s Bitcoin going to go over time?”

Digital currency values have been all over the place. Bitcoin itself has steadily dropped for most of this year. So the big question is: if the price keeps dropping, will the miners stick around?

Seeking a more energy-efficient technology

Lex Sokolin isn’t so sure. Sokolin calls himself a “financial futurist.” He studies digital currencies and the blockchain digital bookkeeping technology they rely on for Autonomous Research in London, and he believes cryptocurrency has a promising future. But he thinks it’s inevitable that developers will come up with a more energy-efficient way to mine them.

“It just seems preposterous to me because the amount of electricity that’s being used in it is growing and growing and growing,” Sokolin says. “I think the community will try to find a different way to do this.”

If that prediction is accurate, towns like Massena would lose their advantage.

Digital Skynet’s Tina Barksdale says that very uncertainty is why Massena should embrace Bitcoin mining now – to establish its position in the fast-moving digital currency economy.


Stablecoin Ormeus Launches New ‘Gold Standard’ Reserve Vault

Ormeus Coin today became the stable ‘gold-standard’ currency for the crypto economy with the launch of its unique cash reserve.

The stablecoin is backed by 40% of profits from ongoing production at a multi-million-dollar cryptocurrency mining operation in North America and China, which are now indelibly linked to the Ormeus Reserve Vault, (ORV).

An unalterable smart contract system automates the distribution of regular deposits from the green energy powered mining business.

And as the exclusive link to the Ormeus vault reveals, USD$7.34 Million is already secured across 25 designated multi-signature wallets.

In order to provide ultimate transparency, the company is allowing Ormeus users to view mining deposits and operational data in real-time available at the site.

The mining operations in upstate New York, the American Mid-West, and China feature an Artificial Intelligence engine designed to select the most profitable crypto coins to mine at any given moment.

Every few milliseconds, the Ormeus engine demands a lookup request and finds the most profitable coin to dedicate processing power.

With the new vault system, users can review an overall Ormeus mining performance table, or evaluate the individual results of how specific coins such as Bitcoin, Bitcoin Cash, Dash, Litecoin are being rewarded.

“This is exactly what the cryptocurrency industry needs – a money system and store of value anchored to intrinsically valuable assets, the profits of which are transparent for all to see,” a company spokesperson said.

He added: “We now guarantee robust liquidity and price stability for Ormeus Coin which is linked to our gold standard style reserve vault”.

Ormeus Coin is built as an ERC-20 Compliant token on the Ethereum Blockchain, and the smart contracts are programmed to self-execute when conditions written in their source code are met. Once programmed, the terms of the contract cannot be changed thus making the contract immutable.

The Reserve Vault is being upgraded to act as a Decentralized Autonomous Organization, (DAO), whereby Ormeus will hard-code certain rules that the company will adhere to and cannot be changed once deployed to the Ethereum Blockchain, i.e., setting aside 40% of mining earnings for the Ormeus vault.

Ormeus recently announced a ground-breaking ‘loyalty airdrop’ which offers participants a chance to secure Ormeus Cash tokens when they stake Ormeus Coin in the official company wallet.

The following web address has been released by Ormeus as the official registration point for the airdrop: https://wallet.ormeuscoin.com/#/register.

The virtual currency has just been listed on two other leading crypto exchanges: Topbtc.com and Exrates.me.


Ormeus Coin Outsmarts Other Virtual Currencies with Transparent Proof of Mining Reserve Vault

Asset Backed: Smart Contract Secured Cash Reserve Goes Live In Beta

Ormeus Coin today announced the Beta launch of an unalterable smart contract system for verifying regular deposits from its industrial cryptocurrency mining business.

The highly-rated virtual currency is secured by a reserve vault that is anchored to the company’s USD$250 Million North American crypto mining operations.

In order to provide ultimate transparency, Ormeus users will be able to see the mining revenue deposits and operational data in real time through algorithms in the underlying smart contract system.

The company currently has significant North American data centers in the Midwest and upstate New York making almost USD$7 Million per month.

It was also recently revealed that the company has diversified its business by investing in Mobile Miners capable of producing around 50 Bitcoins per month, or USD$450,000 per month at current prices.

Commenting on upgrades with the Ormeus Reserve Vault, a spokesperson confirmed: “The Reserve Vault is now live in private beta and the data will be available for all users to see as a tab in the Ormeus Coin wallet which launches in April”.

The spokesperson added: “We guarantee that 40% of the profits from mining operations shall be deposited on a daily basis and retained in the designated multi-signature wallet. This will be visible to the public via smart contract programming from the mining rigs to the currency reserve”.

Ormeus Coin is built as an ERC-20 Compliant token on the Ethereum Blockchain and the smart contracts are programmed to self-execute when conditions written in their source code are met. Once programmed, the terms of the contract cannot be changed thus making the contract immutable.

Ormeus Coin is outsmarting other virtual currencies by having real-world assets securing the digital coin and limiting human involvement.

The Reserve Vault is being upgraded to act as a Decentralized Autonomous Organization, (DAO), whereby Ormeus will hard-code certain rules that the company will adhere to and cannot be changed once deployed to the Ethereum Blockchain, i.e., setting aside a certain percentage of vault earnings.

“Most cryptocurrencies are unbacked and highly volatile,” the spokesperson said. “Ormeus Coin however has developed a sustainable, stable and efficient Blockchain-based cryptocurrency that is backed by identifiable and real assets”.

Major announcements relating to the new Ormeus Coin wallet and Reserve Vault are expected to be made at an Ormeus event in Bangkok, Thailand from April 16th.

Contacts

Ormeus Coin
Tim Forde
www.ormeuscoin.com
Journalists Contact: 00-44-7881292043


Cryptocurrency Mining Turns Green with Ormeus Coin

Upstate New York becomes Bitcoin mining hub with cheap hydro energy fuelling 21st Century Gold-Rush

Ormeus has joined forces with local authorities and the Moses-Saunders Power Dam – a colossal hydro project that stretches over the St. Lawrence River Valley for more than 30 miles.

The dam has 32 turbine-generators divided equally by the international border with 1,045 megawatts operated on the Canadian side and 912 megawatts being run from Massena, upstate New York.

The extensive USD$250 Million Ormeus Coin mining farms in the Midwest and New York take advantage of a variety of technologies, including artificial intelligence and custom-built algorithms which help the data centers run at maximum efficiency – thereby increasing profits to almost USD$7 Million per month.

However, it is cheap energy from the hydro dam that gives Ormeus the ultimate mining edge with some of the lowest electricity rates in North America and extremely low or free energy distribution costs.

“The dam offers low-cost power under a statutorily authorized program called Preservation Power, which protects and promotes jobs in the upstate New York area of Massena,” a spokesperson for Ormeus Coin said.

“The legislation allows proceeds from sales of certain hydropower blocks to be used for economic development in the St. Lawrence County area.

“Ormeus Coin is currently adding jobs to the area as promised with one of our new mining facilities close by,” said Ormeus Coin’s spokesperson.

Cryptocurrency miners are following the Ormeus Coin lead and moving their facilities to the St. Lawrence County area of upstate New York, which is now being described as the ‘Silicon Valley of Crypto Mining.’

Ormeus executed a lease for a 15,000 square-foot mining center in the northern New York area last August and the operation is already making gains as Bitcoin stabilizes around the USD$10,000 mark.

Ormeus Coin is expected to release its new cryptocurrency wallet shortly, and further announcements regarding the coin being added to large crypto exchanges are imminent.

For more information on Ormeus Coin, the public can visit www.ormeuscoin.com.

Contacts

Ormeus Coin
Journalists Contact:
Tim Forde, 00-44-7881292043
www.ormeuscoin.com


Ormeus Coin $250 Million Crypto Mining Empire Expands to Upstate New York

Virtual currency Ormeus Coin has opened a new state-of-the-art industrial crypto mining facility in St. Lawrence County, upstate New York.

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180302005595/en/

The purpose-built North Country operation is part of a wider USD$250 Million cryptocurrency mining business which secures new digital money system Ormeus Coin, (Orme).

A recent independent legal and financial audit published by a leading attorney at law revealed Ormeus Coin is currently making $5.4 million per month from mining, which will increase to $6.7 million in the next two months.

Once renewable hydro energy is increased for the New York plant, Ormeus expects that over 40 people will be employed at the local mining unit.

The company executed a lease for the 15,000 square-foot mining center last August and the operation is already making gains as Bitcoin, Litecoin, Dash and other currencies increase in value.

Speaking to a CBS News Television affiliate at a local press launch for the new mining facility, a spokesperson for Ormeus Coin said that the Massena area of St. Lawrence County can become the Silicon Valley of industrial crypto mining.

“Right now, Massena has the capacity to be the Silicon Valley for cryptocurrency mining,” the spokesperson said.

She added that this is just the start for Ormeus Coin in the area: “At this facility, we are seeking the local authority to further upgrade the megawatts so we can hire and train 40+ employees, in preparation for our next site, which we are in the process of securing, also in the Massena district”.

Ormeus Coin is also leading the way in the use of new technologies utilizing a custom-built Artificial Intelligence (AI) engine to optimize mining activity. The AI engine works by selecting the most valuable cryptocurrencies to mine thereby removing any human bias.

The other Ormeus Coin industrial cryptocurrency mining farms are located in the Mid-West of the United States.

Revenue from the mining farms is currently being linked to the Ormeus Reserve Vault (ORV) through proof of asset technology and self-executing Ethereum Blockchain smart contracts, (ERC20 compliant).

It has been confirmed that Ormeus Coin and has already commenced its cryptocurrency mining operation through private investment and is not seeking public money through an Initial Coin Offering.

For more information on Ormeus Coin, the public can visit www.ormeuscoin.com

The New York mining facility featured on US television news here:

http://www.wwnytv.com/story/37616314/a-look-inside-a-cryptocurrency-mine

View source version on businesswire.com: http://www.businesswire.com/news/home/20180302005595/en/

MULTIMEDIA AVAILABLE:http://www.businesswire.com/news/home/20180302005595/en/