Blockchain-based social network Minds is moving its platform to the ethereum mainnet, the startup announced Monday.
A new way to trade bitcoin and digital currencies is now in the books. SparkSwap is the first crypto exchange to be built on the Lightning Network. It allows users to trade both bitcoin and altcoins in seconds without depositing assets with a third party.
In a blog post, SparkSwap founder Trey Griffith said, “You can trade between different blockchains (currently Bitcoin and Litecoin, with others coming soon), with trades settling in about a second — a transaction time comparable to some of the leading centralized cryptocurrency exchanges.
This week Bitcoin Cash (BCH) proponents will be pleased to hear that more merchants can now accept bitcoin cash due to the crypto-payment processing firm Bitpay announcing a few strategic partnerships this week. The first announcement stems from the subscription television channel provider, Dish, who announced on August 9th that BCH is now accepted as a payment option after collaborating with Bitpay. Further Bitpay joined forces with the firm Flow.io and BCH payments can be used with global cross-border e-commerce platform on more than 60 different payment methods across 200 countries.
Also read: Philippines Building Crypto Valley of Asia
The Lightning Network active on the Bitcoin mainnet has passed 3000 nodes with capacity for almost 100 BTC in August.
Capacity Expands 85% In July
Data from monitoring resource 1ml.com confirms that network capacity increased 85 percent in the past thirty days, bringing mainnet Lightning’s total funds accommodation to 97 BTC ($ 628,000).
Lightning originally debuted around the start of 2018 in its mainnet form, with growth accelerating through Q2.
In May, Twitter commentator Kevin Rooke notes, capacity remained comparatively low at just 18 BTC before a dramatic increase began in July.
Constellation Labs, a horizontally-scalable blockchain for consumer-grade applications, has announced the release of its testnet — the first version of Constellation’s base code. This launch begins a process of building out a small network of nodes, which communicate with each other in order to prevent “bad actors” on the system. The testnet’s primary goal is to accomplish both the handling and validation of basic transactions. Constellation’s testnet also demonstrates some of the system’s fundamental architectures, while enabling extensive testing of its core system’s functionality and stress-testing the node network.
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Amberdata, a provider of blockchain monitoring and analytics, has announced a partnership with Aion Network to provide real-time transparency and intelligence of Aion’s blockchain on Amberdata’s platform for the community. With support for both the Aion Kilimanjaro (Mainnet) and Aion Conquest (Testnet) blockchains, Amberdata will offer a full suite of tools for monitoring, searching and analysing Aion network’s multi-tier blockchain system.
The Texas State Securities Board has taken an emergency action to stop a network of crypto-related companies from illegally offering investments in the state. A token offering and a mining firm are among those targeted by the securities board as selling fraudulent “cryptocurrency-related investments.”
Emergency Action Taken
The Texas State Securities Board announced Thursday that an emergency action has been taken to “target promoters of crypto-mining investments.” According to the notice published on July 12 by the Board:
Recent Bitcoin block data shows that Bitcoin’s mining pools BTC.com, AntPool and ConnectBTC, respectively mined about 25.7 percent, 16.1 percent and 0.2 percent of all new blocks over the past week. This makes for a combined hash rate of 42 percent; an all-time high for the Chinese mining giant’s mining pools.
How true are these claims?
Digital assets industry newsletter Diar.co has poured cold water on Bitcoin’s Lightning Network, claiming low transaction success rates and issues with node dominance.
A Classic Beta Landscape?
In its latest issue June 25, the weekly publication identified statistics about the current state of Lightning, highlighting problems for which the likelihood of improvement remains “unclear.”
“Nodes are up by 8600% and the Bitcoin funds on the network are up by 3600% from the start of the year. It’s less clear, however, whether the concentration of capacity amongst the largest nodes will improve with more adoption,” Diar writes.
The week of June 25 marked a new array of firsts for Bitcoin’s Lightning Network with acceptance rising and all three of its implementations entering beta.
c-lightning, lnd And Eclair Go Beta
The product of intense development, c-lightning, lightning network daemon (lnd) and Eclair formally entered beta release Monday.
Commenting on the milestone, c-lightning developer Blockstream said hinted the technology would now become more straightforward for end users – a key aspect in driving acceptance.
“It migrates away from the protocol used while designing the specification and toward a new architecture that is modular and extensible, to better adapt to your needs and your infrastructure,” a blog post explains.
This Sunday news.Bitcoin.com reported on a community-driven Bitcoin Cash network stress test taking place this September. However, allegedly another stress test is in the works with malicious intent, according to a lesser known developer named Bitpico. The anonymous person claims the attack has already started, and emphasizes his blitz of spam will amplify over time.
Even though there are a lot of debates taking place regarding Bitcoin mining, the network is in a good place. Regardless of energy consumption concerns, the overall hash rate has risen steadily over the past nine months. At this rate, reaching 45 exahash per second will not take all that long.
Increase in Bitcoin’s Hash Rate
The past nine months have not been easy for Bitcoin by any means. Even though the value of BTC seemingly skyrocketed a few months ago – and since has crashed substantially – Bitcoin miners are not ending their operations. Instead, it seems the Bitcoin network hash rate has had a constant rate of growth these past nine months. That in itself is a rather intriguing development, especially in light of the declining Bitcoin price.
Chinese cyber-security mogul 360 Total Security has identified a series of “epic” security vulnerabilities in the EOS network. The team determined that remote attacks can potentially take over and exercise full control over all the nodes running on the network.
360 Total Security is a leading Chinese company in the field of antivirus software. Reportedly, early on May 29th, their team managed to identify a series of very high-risk security vulnerabilities in the network of EOS. The news appeared on a Weibo publication and was quickly tweeted by social media resource cnLedger:
Akamai Technologies, Inc., the cloud delivery platform, and financial group MUFG have announced plans to offer a new blockchain-based online payment network enabling next-generation payment transaction scale and responsiveness.
This hyper-scale payment network, powered by a newly-developed blockchain architecture, is designed to be capable of processing more than one million transactions per second at latencies of less than two seconds per transaction. The underlying blockchain architecture is expected to be extensible to 10 million transactions per second. Transactions executed across the payment network will be accelerated and secured by Akamai’s cloud security offerings.
The Lightning Network (LN) is approaching 2000 functional nodes as users begin to highlight the conspicuous cost savings using the technology.
Lightning: 1997 Nodes, 6600 Channels, $ 150,000 Capacity
Data captured from an overview of LN’s Bitcoin mainnet integration showed 1997 reachable nodes (with the actual number presumably much higher) at press time, with 6614 open channels and a total network capacity in excess of $ 150,000.
Kyber Network is a decentralized exchange for cryptocurrencies. Founded by Loi Luu, Victor Tran, and Yaron Velner in 2017, Kyber Network can be used to exchange and convert digital assets. The Kyber Network token sale took place in September 2017, which raised around 200,000 ETH (the equivalent of $ 60 million USD at the time). The […]
The company allows customers to trade gold with bitcoin directly, all the way down to 0.1 gram in quantity. Customers can hold the asset for seconds or years, with their ownership certificate securely stored on the blockchain. All gold holdings are physically stored by Pro Aurum in Switzerland and audited by BDO. The physical gold can be requested by customers or left in the vault, where it is also insured. Vaultoro is also working on a gold-backed debit card.
Kuende, a social network that hopes to attracts young people from all over the world by offering an interactive, hybrid online-offline social experience, has announced its token event launch, meant to upgrade its gamification layer into a blockchain powered vote and reward system.
Pavel Antohe, Kuende’s CEO & founder stated: “There’s something wrong in today’s social media landscape and users are looking for a better alternative. A social media that shifts the focus from heavily filtered posts that highlight a false glamorous reality to real, genuine projections of our real lives”