For all of its revolutionary potential, Bitcoin remains a work in progress. Its long, and often contentious development has been the subject of immense debate among both supporters and critics. Several emerging steps along its march to completion will soon become game changers on the move toward mass adoption. SCALABILITY IS A PRIORITY Increasing network capacity is crucial for Bitcoin’s long-term success. Finding a workable scaling solution has been by-far the most difficult and contentious […]
A just-released report from Bitmex shows that Bitcoin platform development continues to grow and diversify. A look at key players reflects greater interest in scalability and bringing the flagship cryptocurrency into a position for effective mass use. Multiple Bitcoin Projects Supported The report shows that Blockstream and Lightning Labs have become by-far the top institutions working on Bitcoin development. Seeking to create long-term solutions to the scalability challenge, both are pouring significant resources into side […]
Almost 100 years ago, industrialist and automobile magnate, Henry Ford, proposed an ‘energy currency’ to replace gold. Does Bitcoin finally fulfil some of the promise of this ‘energy currency’? Yes, according to a recent Medium post by Capriole Investments. Currency Backed By Energy Ford’s argument for energy currency was that, unlike gold, it could not be controlled. Instead, every country could issue currency based on the natural wealth of its energy resources. The standard ofRead More The post appeared first on Bitcoinist.com.
Bitcoin showed just how inexpensive it can be as a tool for transferring value this morning. A 51,511 BTC transaction, worth almost $450 million, was sent for a fee of under 25 cents. Half a Ten Millionth of a Percent The transaction was included in block 613644, and a total amount of 51,511.81741968 was moved. At the time the block was mined, the bitcoin price was $8680.51, meaning $447.15 million of value was transferred. TheRead More The post appeared first on Bitcoinist.com.
Almonit has released the first version of its decentralized, private search engine for the decentralized web (dWeb). It is accessible to those with a decentralized browser or plugin at almonit.eth, and to all others at almonit.eth.link. Focus On Privacy The first thing to know is that the search engine itself is decentralized. It is served via IPFS and accessed using ENS (more later). This means that users can access and carry out searches without Almonit’sRead More The post appeared first on Bitcoinist.com.
Blockchain Capital Partner, Spencer Bogart, has been talking to Bloomberg about his predictions for Bitcoin in 2020. TL;DR – things will go vertical, and though he isn’t specifically referring to BTC price, that may well follow. The End Of The Horizontal Competition Era Bogart’s most anticipated element of cryptocurrency industry development in 2020 is to see the ‘Vertical Construction’ era play out. The past few years have been dominated by ICOs and the growth of horizontal
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Social media giants are no longer opposing the power of decentralization and bitcoin technology. Instead, they are embracing it to solve the problems of a centralized Internet and put the power back in people’s hands. Bitcoin Decentralization ‘could unload some of their burdens.’ Since Bitcoin’s inception, many in the financial and technology sectors saw Bitcoin and its blockchain technology as a threat. And, their first reaction was to oppose it vehemently. Inevitably, however, the concept
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The global luxury jewelry industry and the mining industry are exploring blockchain technology to improve efficiency, tracking of materials, and enhancing transparency. Most importantly, the aim of using blockchain technology includes protecting miners’ health and the environment. NYT: “Blockchain Is a Growing Niche Within the Global Jewelry Industry” The World Gold Council indicates that the extraction of gold by artisanal and small-scale gold mining (ASMG), includes ills ranging from funding and participation of illegal armed
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Blockstream CEO, Adam Back, says that the company is looking at implementing a method by which lost bitcoin will become recoverable. But before you stop trawling through the tip for that old hard drive you threw out, he wasn’t referring to those lost bitcoin. Backup Bitcoin Keys Talking during an interview at the Lighting Conference in Berlin, Back was talking about future plans for Blockstream’s Green Wallet. This was launched in March this year, and feted for
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The advent of Bitcoin is fueling the evolution of financial technologies, including telecommunications, and hardware with crypto-friendly features. The latest innovation, HTC’s cryptophone Exodus 1, will hit the market in December 2019. This device performs both as a smartphone as well as a Bitcoin cold wallet. Chen: “For the smartphone category to grow again, we need more adoption of cryptophones.” HTC Corporation, a Taiwanese phone maker, is shifting its business strategy towards new technologies. In
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Multi-player battle gaming can now happen on the Bitcoin Lightning Network, courtesy of Satoshis.Games. The platform, introduced during the latest LN conference, allows players to earn and spend BTC directly, during the gaming process. Game Integrates with Bluewallet and LN Payment Channels The Lightning Network has opened doors to long-awaited BTC microtransactions, and has found one of its use cases in gaming. We are announcing our new game at @LNconf ⚡ Here is the medium
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A Twitter poll by bitcoin evangelist Pierre Rochard discussed whether the Lightning Network is a suitable tool for BTC transactions on crypto exchanges. Poll Signals to Lightning Network Curiosity Should Bitcoin exchanges enable Lightning deposits and withdrawals? — Pierre Rochard (@pierre_rochard) October 14, 2019 Proponents of LN believe it would be a good fit for crypto exchanges. Lately, exchanges have become extremely skeptical of inbound transactions, especially after a series of partial spending or 51%
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Blockstream core engineer Rusty Russell discovered critical Bitcoin Lightning Network bugs that were affecting C-Lightning, Éclair, and Lightning Network Daemon (lnd) implementations. Early LN Versions Failed to Check Funding Transaction Amounts Presently, three autonomous teams are working on the Lightning Network implementations: Blockstream, ACINQ, and Lightning Labs. The main objective of these teams, among other things, is to reduce transaction costs while enhancing the scalability and security of the Bitcoin network. The Lightning Network is
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South Korean electronics giant, LG, is likely to launch a cryptocurrency-enabled smartphone soon, according to industry insiders. LG must respond to industry rivals, Samsung, who recently released a limited-edition version of its bitcoin-wallet toting Galaxy Note 10. LG Cryptocurrency Smartphone Could Be Imminent According to a report by South Korean news outlet, IT Chosun, LG started researching around incorporating blockchain technology into phones shortly after Samsung announced the Galaxy S10. The S10 has a built-in cryptocurrency
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Bitcoin Core developer, Peiter Wuille, has introduced a new programming language called Miniscript, to simplify smart-contract development for Bitcoin. One of the most prolific and respected Core-developers, Wuille is responsible for the creation and implementation of Segregated Witness (SegWit). ‘Miniscript’ Is Like An Enhanced ‘Script’ For Bitcoin Miniscript is built on top of the existing Script language for Bitcoin smart contracts and aims to optimise it. Script allows the specification of certain conditions which must
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Cryptocurrency will gain significantly from playing a role in online gaming, one of the industry’s best-known investors has forecast after Fortnite World Cup concludes. Fortnite and Gaming Are ‘Very Bullish’ Commenting after the culmination of the Fortnite World Cup event in New York, Travis Kling, founder and CIO of cryptocurrency asset manager Ikigai, said it was only a matter of time before the “huge” cash flows in gaming made their way into crypto. Fortnite, a
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Greek billionaire Alkiviades David has reportedly created the world’s first stablecoin pegged to the price of legal cannabis. Swissx Bank of Cannabis Issues SWX Stablecoin As a press release confirmed July 25, the so-called Swissx Bank of Cannabis (SBC), headquartered in the Swiss city of Gstaad, aims to provide the legal cannabis industry with a secondary market. The release comes in tandem with the Swissx Global Hemp Exchange, a trade forum which will aid the
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Bitcoin price may be losing ground, but its network is now more competitive – and secure – than ever before, new data shows. Bitcoin Mining Hashrate, Difficulty, Transaction Output Value Spike According to monitoring resource Blockchain (formerly Blockchain.info), three essential Bitcoin network metrics achieved new daily records at the same time this week. Hashrate, difficulty and the total value of transaction outputs all surpassed their previous daily all-time highs, indicating that interest in the largest
SatoshiCentre in Botswana has been a Bitcoin educator and FinTech incubator since 2014, and is driving innovation in one of Africa’s most prospering crypto country. Bitcoin Awareness In Botswana SatoshiCentre was the brainchild of ‘Bitcoin Lady’, Alakanani Itireleng, a tireless champion of Bitcoin and regular keynote speaker. Her initial intent was to create a platform to increase awareness of Bitcoin and blockchain technology in Botswana and Africa. This was at a time when cryptocurrency was
Weiss Ratings revealed yesterday that it has upgraded Bitcoin from a ‘B-‘ to a ‘B’. However, it still recommends holding out for a price correction before buying. Highest Rated Bitcoin Just Gets Better The, perhaps most respected, independent ratings agency, Weiss rates cryptocurrencies based on four factors, technology, adoption, risk, and reward. These are often split to give two ratings, one for tech/adoption, and one for risk/reward. A combined average of these is used to