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China Central Television (CCTV), the country’s primary state broadcaster, has said the economic value of blockchain is “10 times more than that of the internet.” In a segment named “Dialogue,” aired Sunday night through the station’s Finance Channel, CCTV host Chen Weihong featured an hour-long discussion that was for the first time dedicated to educating its…
Blockchain and decentralization have become synonyms in the cryptocurrency industry. The use of blockchain technology made it possible to create a network where all users are equal, and information is distributed over a countless number of computers in the world. Decentralization has gained a particular value for banks and other commercial institutions, since it brings…
Bitcoin’s lightning network may be just starting to send transactions over the blockchain, but already its developers are looking to rearchitect the technology. That’s because, while touted as a way to significantly boost bitcoin’s capacity, the network itself does require users to store a significant amount of data, which makes it difficult to download and run.…
Welcome to the “Layer 2” era. We are now entering an exciting new phase of blockchain development in which the lightning network and other programming solutions that operate “on top” of existing blockchains promise big strides in scalability, interoperability and functionality. There is still much work to be done. The early tech is buggy, and…
The Bitfury-backed Hut 8 Mining Group mined more than 800 bitcoins in the first quarter of 2018, the company reported Thursday. In a summary of its quarterly financial results, the company noted it raised $70 million CAD to continue investing in mining hardware, generated nearly $11 million CAD in revenue and is one step closer…
China’s State Council, the country’s central administrative branch of government, has sent its highest-level order demanding that local authorities speed up blockchain technology development, it was revealed on Thursday. The order, first issued by the State Council on May 4 to provincial and municipal governments, addresses a variety of strategies required to continue the reformation…
Japanese IT giant GMO Internet is set to roll out the world’s first bitcoin mining device based on 7nm chips within the year. According to an announcement on Wednesday, the firm said it is launching the new B2 miner on June 6 with mass production to follow and shipment starting by the end of October. The…
Germany’s second largest stock exchange, the Stuttgart Börse, which reportedly has a trading volume of $100 bln, has announced it is launching a zero-fee cryptocurrency trading app, Thursday, May 17. The smartphone app, dubbed ‘Bison,’ will be free to use as of fall 2018, and has been developed together with fintech startup Sowa Labs. Four…
Chinese Bitcoin mining hardware manufacturer Canaan Creative plans to start trading of its IPO as soon as July, Bloomberg reports May 16. Canaan, which confirmed rumors it was planning an IPO with a filing this week, will likely create the largest Bitcoin-focused offering yet seen when it debuts on the Hong Kong stock exchange. Citing…
Consumer electronics corporation HTC has unveiled “the first native blockchain phone”, HTC Exodus, which will launch with support for multiple blockchains, including Bitcoin (BTC) and Ethereum (ETH) networks, PCMag reported May 15. HTC Vive creator Phil Chen announced the forthcoming project at the Consensus conference in New York City today. Chen highlighted that the upcoming…
Buying a bottle of water quickly and spontaneously using cryptocurrency is still a massive challenge, but the company behind a new ecosystem says its technology will make it easy for crypto holders to use their funds for everyday purchases – all without creating a headache for merchants. FuzeX has created a smart eCard that enables…
Multinational software firm SAP is expanding its work with blockchain into the supply chain space. Torsten Zube, SAP’s blockchain lead, revealed Monday that the company is looking to apply the tech to agricultural supply chains by way of its Farm to Consumer initiative. Companies like Johnsonville, Naturipe Farms and Maple Leaf are working as additional…
“Before the end of the year, we hope to launch the Lumino network, which will allow for 20,000 transactions per second.” The first bitcoin smart contracts sidechain just reached an early milestone. To be revealed Monday at CoinDesk’s Consensus 2018 conference, RSK, the startup that built the long-anticipated technology, touted as a way to…
Iranians are increasingly turning to Bitcoin (BTC) and other cryptocurrencies in the wake of the US exit from a multilateral nuclear accord with the country this week. The news has plunged the country into economic turmoil, resulting in a surge of interest towards crypto, as Forbes reports Thursday, May 10. Mounting anticipation that the Obama-era…
Developers hoping to bring a higher level of transaction anonymity to the bitcoin blockchain have built a prototype for their “Dandelion” privacy project. The test, according to an email sent to the bitcoin development mailing list on Thursday, comes after the team behind the project added more theoretical analysis in a bid to address concerns that the…
“In 2017, China was reported to have filed the most patent filings for blockchain technology of any country in the world, and the country is alleged to have accounted for 50 to 70 percent of BTC mining worldwide that same year.” Canaan Creative, China’s second-largest Bitcoin (BTC) mining hardware manufacturer plans to seek an…
BMW has completed a pilot together with crypto startup DOVU, an official blog post from DOVU outlined today, May 8. The pilot introduces a tokenized rewards system using DOVU’s ERC-20 token, DOV, that encourages drivers to track mileage on their leased vehicles. In their blog post, DOVU points out that preserving the residual market values…
SAN FRANCISCO — Last year, representatives of 25 countries met in Tokyo to work on setting international standards for the blockchain, the technology that was introduced by the virtual currency Bitcoin and has ignited intense interest in corporate and government circles. Some of the technologists at the meeting of the International Standards Organization were surprised…
Bitcoin appears to finally be making headway with one of its less-appreciated, but critical challenges: recruitment. Simply put, the number of developers contributing to the cryptocurrency’s open-source code is suddenly on the rise. Sure enough, there have been at least 21 code submissions approved from new contributors over the past 50 days – and that’s…
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Abandon the Proof-of-Work (PoW) algorithm to break ASIC market leadership? Seems like a dumb idea to me: make your own ASICs! … especially when it is about private PoW Blockchains — TJACK The crypto community is bracing for a real revolution – leading cryptocurrencies may abandon the Proof-of-Work (PoW) algorithm. The reason is the far-reaching…
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