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Burst News

Exclusive Interview With Burst Developer Daniel Jones

Listen to the exclusive interview with Burst Developer Daniel Jones on the 18 October 2018 edition of the BitcoinNews.com Daily Podcast BitcoinNews.com did an exclusive interview with Daniel Jones, one of the Burst developers. Burst began in 2014 as a fork of NXT, which is itself a fork of Bitcoin. NXT uses Proof of Stake, but the original Burst developers modified the code and implemented a unique new protocol called Proof of Capacity. Jones says “Proof of Capacity is a consensus algorithm based on the idea of how large of a plot, or size, or space that you have to contribute to the network”. Mining with Proof of Capacity requires negligible electricity, making it one of the very few cryptos that can be profitably mined on personal computers. Burst has a market cap of USD 16.5 million, placing it at #248 out of 2,105 listed cryptocurrencies on CoinMarketCap as of 19 October 2018. Long-term, Burst has been rising in price relative to Bitcoin, and generally when altcoins rally Burst rallies more than most other altcoins. Jones attributes this to the real people and real development behind the Burst network. Jones compares Burst to the early days of Bitcoin, saying “Burst is like the early days of Bitcoin, having been involved since 2009 I saw this happen once before, and I’m seeing it happening again, and this is exciting to me. For me, Burst represents a better way of being able to mine, and being able to participate in a globally distributed network. The bar is so low anyone can get involved, allowing anyone to participate which makes the network stronger”. Proof of Capacity is based on how much hard drive space each user has, making Burst mining highly decentralized since hard drive space is relatively cheap and easy to acquire versus Bitcoin mining rigs. With Proof of Capacity, a 1-time hashing cycle is done in a process called plotting, which proves the capacity of the hard drive being used for Burst mining. Burst uses Shabal-256, unlike Bitcoin which uses SHA-256 which is not effective for writing to a disk. Shabal-256 writes to the actual nonce, the writeable piece of a disk, on a hard drive. Each plot is unique and depends on system specifications, hard drive space, and the time of writing, which prevents collisions of block answers during Burst mining. During Burst mining, the plot that is filled with billions of hashes is read to find the answer for a block. The only computationally intensive part of Burst mining is plotting when the hashes are written to the disk. During mining, the plot is read for answers every 4 minutes, which is the average block time for Burst. The answer is compared to everyone else’s answer. The time it takes to read the answer is called the deadline, and whoever has the shortest deadline gets the block reward. Jones says “When you have shorter deadlines you win because you win the actual target”. More hard drive space equals more block answers, making it easier to get a block reward. Burst mining itself is not computationally intensive and requires negligible energy. This means Burst mining has practically zero electricity costs, just hard drive purchasing costs, making it one of the only cryptocurrencies that can be mined profitably on personal computers or even phones. Jones says “Burst is similar to Bitcoin in the early days, you can mine on it almost anything. People are mining on Android phones, people are able to run it on anything. I’ve seen people running it on a thermostat... I can tell somebody to start mining Bitcoin, but they need USD 1,100, or they could buy an external hard drive and start plotting and start mining Burst. It is a lot easier”. Further, plot files can be deleted and the hard drive can be used for something else if someone decides to stop mining Burst, unlike Bitcoin mining rigs which can only be used for Bitcoin mining. When a Burst block is found, it is added to the blockchain, much like Bitcoin. The Burst block reward started at 10,000 and decays at 5% per month, and at the time of the interview, the Burst block reward was 769. The maximum supply of Burst is 2.158 billion, and 1.992 billion Burst have already been mined. The limited supply of Burst for mining means Burst inflation is small, which could help increase the price of Burst in the future. Despite decreasing Burst block rewards, its network capacity is 250,000 TB, after being near 350,000 TB earlier in 2018 when Burst’s price was higher during the 2017-2018 crypto rally. At this time 1 TB of capacity generates 1-2 Burst a day, which is USD 0.01-0.02. For 1 PB of capacity, a miner can produce USD 10 per day. According to Jones 8 TB costs USD 125, so it would cost more than USD 15,000 to buy a PB. Due to hardware costs, it would take a long time to break even, but the upside is there are no electricity costs. The price of Burst will need to go up in the future, and current miners will have to HODL, to make its mining profitable. However, people who have spare hard drive space that

a day ago

Exclusive Interview With Burst Developer Daniel Jones, BitcoinNews.com Daily Podcast 18th October 2018

Listen to the 18 October 2018 BitcoinNews.com Daily Podcast below. On this edition of the BitcoinNews.com Daily Podcast, we interview Burst developer Daniel Jones, taking a deep dive into Burst, which is a unique cryptocurrency that uses the Proof of Capacity algorithm. Follow the Bitcoin News Daily Podcast on Anchor, iTunes, Spotify, Google Podcasts, Stitcher, Radio Public, Pocket Casts, Overcast, Castbox, and Breaker. We broadcast a new episode every day, covering the most important topics in the crypto, Bitcoin, and blockchain world! Follow BitcoinNews.com on Twitter: @BitcoinNewsCom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: Zachary, Bitcoin News The post Exclusive Interview With Burst Developer Daniel Jones, BitcoinNews.com Daily Podcast 18th October 2018 appeared first on BitcoinNews.com.

a day ago

Ten years after Lehman’s collapse, these ten risks could cause the next crisis

On Sept. 15, 2008, a credit crunch turned into a full-blown crisis when New York-based investment bank Lehman Brothers collapsed. The global recession that followed is still too fresh in many people’s memories to be considered history. But 10 years on, the state of the financial system suggests that the crisis has been relegated to the history books for many in the industry. In 2018, Wall Street is enjoying another heyday. Bonuses for bankers have returned to pre-crisis levels, profits for commercial banks are at a record high, the stock market is in its longest bull run in history, the US economy is humming, and deregulation and tax cuts rule the day in Donald Trump’s administration. Around the world, regulators and policymakers say that measures taken in recent years have made banks safer than ever, with more capital and targeted oversight informed by mistakes made before Lehman went bust. That said, there are still plenty of potentially dangerous risks brewing in the financial system. Aggressive financial engineering in the pursuit of profit is alive and well. Complacency could lead to trouble, as it always does. The UK’s Financial Conduct Authority just gave a timely reminder that the onset of a crisis can be sudden. “Most if not all of the firms which failed had been reporting relatively robust financial positions right up to the point when they did fail, with financial statements signed off by their boards and large audit firms,” Charles Randall, chair of the British regulator, said earlier this month. On the 10th anniversary of Lehman’s bankruptcy, these are the things that market watchers believe could cause the next crisis. Foreign corporate debt Global non-financial corporate debt more than doubled in the past decade, to $66 trillion in the middle of last year, according to McKinsey. Two-thirds of this debt has been raised in emerging markets, with the added risk that many of these companies have taken advantage of low interest rates to borrow in US dollars. As corporate debt has increased, the quality of the credit has declined. Analysts at McKinsey say a quarter of corporate issues in emerging markets are at risk of default today, a figure that could quickly increase with a sharp rise in interest rates. US interest rates and the dollar are rising as record amounts of the debts come due. The current turmoil in Turkey is an example of what can go wrong. The Turkish lira is in freefall against the dollar, and investors are increasingly unsure as to whether Turkish companies will be able to pay their dollar-denominated debt with the rapidly depreciating liras they generate in revenue. Some European banks have loaned heavily to Turkish companies, putting them on the hook in the event of cascading defaults. There are also worries about China’s debt binge, which has left the world’s second-largest economy with a corporate debt pile worth about 160% of GDP, the highest in the world. The ability of the Chinese government to prop up growth, stabilize its over-leveraged economy, and fight a trade war with the US will be tested, and any slip will reverberate across the global economy. Collateralized loan obligations These sound eerily similar to the collateralized debt obligations (CDOs) that caused so much chaos during the 2008 crisis. These assets are another example of securitization in which leveraged business loans (meaning debt from companies with sub-investment grade ratings) are pooled together and then divided into tranches. There are other similarities to pre-crisis securitization practices: CLO documentation is long and complex and each CLO usually has more than 100 issuers bundled into one product, according to Bloomberg. For the most part, people think that CLOs are pretty safe. Even during the worst of the last crisis, the top tranches never defaulted. The argument is that this time is different because the company loans aren’t as vulnerable to changes in interest rates as the subprime mortgages underlying CDOs. But the same amount of confidence can’t be applied to the lower-rated CLOs that are becoming popular because of the high returns on offer. Bloomberg warns that the boom in the market may have gone too far now that CLOs are being targeted at individual retail investors. Issuance of CLOs has “rocketed” in Europe and keeps on rising in the US, especially as 2016 deals are refinanced in better market conditions. At the end of the first quarter of this year, the size of the outstanding US CLO market was nearly $550 billion, versus just over $270 billion in 2008, according to the Securities Industry and Financial Markets Association. The European CLO market is smaller than it was in 2009 but rising from a low set in 2015. Nonbank mortgage lenders Traditional commercial banks have reduced the amount of mortgages they provide, especially to low- and middle-income families, following tougher regulations. Nonbanks have stepped in to fill the gap: In the US, 56% of all mortgage originations

2 days ago

A Saudi prince helped save Trump from bankruptcy—twice

Donald Trump claimed on Twitter today that he has no “financial interests in Saudi Arabia.” But his financial ties to the kingdom go back a very long way. In 1991, Donald J. Trump was a mid-tier real estate developer with $900 billion in debt, a collapsing casino business, and a name perhaps best known for a headline-dominating split with his wife Ivana. With his empire at risk of falling apart, Trump was searching for cash everywhere; his father even illegally bought $3.35 million worth of casino chips and never gambled them, to help Trump make a massive bond payment a year earlier. A helpful burst of cash from a Saudi prince eased some tension with his creditors. Alwaleed bin Talal bought Trump’s yacht for somewhere between $18 million and $20 million (reports vary). It wasn’t a great bit of business for Trump—he had bought it from the Sultan of Brunei three years earlier for a reported $29 million. In 1995, Trump was still in deep trouble—and Alwaleed swooped in again. The prince, who calls himself the “Warren Buffett of Saudi Arabia,” took over Trump’s 51% stake in his beloved New York Plaza hotel. As a result, Trump’s creditors forgave $125 million of his debt. Alwaleed, who was one of several royals to be detained by Crown Prince Mohammad bin Salman in 2017, is deemed the world’s 74th richest man by Bloomberg, and owns stakes in companies like Apple, Snapchat, Twitter and Citigroup. As late as 2015, Trump was still happy to boast about his connections with Saudi Arabia. Speaking at a rally in Alabama, he bragged: “Saudi Arabia, I get along with all of them. They buy apartments from me. They spend $40 million, $50 million. Am I supposed to dislike them? I like them very much.”

4 days ago

Cancer was Paul Allen’s wake-up call to leave Microsoft

Microsoft cofounder Paul Allen was first diagnosed with non-Hodgkin’s lymphoma in 1982. At first, he itched, then came the night sweats, and eventually he discovered a hard bump the size of a pencil eraser tip on his neck. “I felt as bulletproof as most people under 30; I took my health for granted,” Allen wrote in his autobiography Idea Man. The doctors caught it early, and their treatment ended up giving Allen another 36 years, during which he went on to amass incredible wealth, several professional sports teams, and an enduring legacy in technology and philanthropy. Allen, who died of complications from the disease today (Oct. 15) at 65, had seen his 1982 diagnosis as a wake-up call, according to his 2011 autobiography, an excerpt of which was published in Vanity Fair. “If I were to relapse, it would be pointless—if not hazardous—to return to the stresses at Microsoft,” he wrote. “If I continued to recover, I now understood that life was too short to spend it unhappily.” The unhappiness at Microsoft had been building up over an intense partnership with his cofounder Bill Gates, whom he had known since high school. While their friendship had since mended since he left Microsoft, their last year running the company together was especially tumultuous. In Allen’s book, he describes a calculating cofounder, who sometimes schemed behind his back. When Gates wanted to bring on his Harvard classmate Steve Ballmer—who would ultimately take over as CEO from 2000 to 2014— to help run the business side of things, Allen had stipulated that he was OK offering up to 5% equity in the company. But he later discovered through a copy of an offer letter—sent while Allen was away—that Gates had offered him 8.75%. When confronted with this “major breach of faith,” Gates decided to make up the difference by taking it out of his share. But there was one particularly heated moment that seemed to have pushed Allen over the edge: One evening in late December 1982, I heard Bill and Steve speaking heatedly in Bill’s office and paused outside to listen in. It was easy to get the gist of the conversation. They were bemoaning my recent lack of production and discussing how they might dilute my Microsoft equity by issuing options to themselves and other shareholders. It was clear that they’d been thinking about this for some time. Unable to stand it any longer, I burst in on them and shouted, “This is unbelievable! It shows your true character, once and for all.” I was speaking to both of them, but staring straight at Bill. Caught red-handed, they were struck dumb. Before they could respond, I turned on my heel and left. Both Gates and Ballmer ended up apologizing for the incident, but that moment helped Allen realize he couldn’t stay longer at Microsoft, and resigned two months later.

5 days ago

Bitcoin [BTC] is not going to disappear, but Ethereum [ETH], XRP and others are “going bust”, says Roubini

Nouriel Roubini, the economist that predicted the 2008 financial crisis and earned the nickname Dr. Doom, recently spoke in an interview about the cryptocurrency market. He has recently gained prominence due to his outspoken views on the cryptocurrency market. Over the course of the interview, Roubini called cryptocurrency space a bubble, going so far as to call it the mother and father of all financial bubbles. He also predicted that it was going to burst, prefacing it with a disclaimer that he wasn’t “against it”. He stated to CoinTelegraph: ““I’m not against [it], I’m open to any type of innovation, but I’m an expert on financial crises and asset bubbles. And I became famous [by] predicting the global financial crisis — the burst of that bubble.” He revealed his experience with those close to him questioning him about financial advice on Bitcoin [BTC]. He stated: “If you bought it at the peak, you lost 70 percent of your value. And it’s typical of all these financial bubbles: They go up until they collapse. And Bitcoin is actually the best [example], because the average cryptocurrency has lost, in the last nine months, more than 90 percent of their value.” He went on to say that he felt like he was “vindicated and proven right” when speaking about the bubble going bust. Roubini also addressed issues of conflicts of interest, wherein many cryptocurrency enthusiasts stated that he was spreading misinformation about the technology because he had a short position. Roubini clarified, stating that even if Bitcoin went to the moon or zero, he was “not going to make a penny either way”. He went on to confirm his position as an academic that “speaks his mind”. Roubini is also known for being a stark disprover of Ethereum, calling it a “scam” on multiple instances. He offered statistical data to prove his point, stating that 81% of all Initial Coin Offerings were a “scam” to begin with, as 11% of them have failed or died. Of those remaining, Roubini stated that the top 10 have lost around 95% of their value. He went on to state: “Bitcoin is not going to disappear. But, you know, Ethereum is a bubble and it’s a bit of a scam — it’s worth nothing — XRP, all the other ones, they’re all going bust.” Furthermore, he spoke about the underlying technology of Ethereum known as smart contracts, stating that there was “nothing about them that is smart” as they were buggy. Moreover, he believed that any contract has to be enforced by lawyers “by definition”, stating that putting it in code was “silly to begin with”. The post Bitcoin [BTC] is not going to disappear, but Ethereum [ETH], XRP and others are “going bust”, says Roubini appeared first on AMBCrypto.

6 days ago

In rural India, birth control and family planning are the mother-in-law’s purview

In Jharkhand, in eastern India, the land is rich but the people are poor. It’s the second most resource-rich state in the country, but 39% of the population lives below the poverty line. In the capital, Ranchi, luxury hotels and retail shops crowd the main roads. Businesspeople travel to the city to deal in Jharkhand’s natural resources: iron ore, copper, uranium. Once you leave Ranchi, it’s easier to get a grasp of Jharkhand’s landscape: sprawling fields, shady trees, and long, winding roads. Small, square ponds appear by the sides of the road, with steps that indicate they’re man-made—an old-fashioned system for water preservation that’s currently going through a revival. As we drive through one village on a sunny afternoon, a health care worker tells me that the people here are refusing all government services, including health care, as a form of protest. The people of Jharkhand frequently clash with the government over resources, protesting laws that make it easier to dole out land to corporations, or to mine it for uranium. Just 20 miles from the hotel bars and government chambers where these decisions are made, I’m heading to a very different kind of gathering. In the village of Khunti, families meet periodically for Saas Bahu Pati Sammelan, which translates to “meeting of the mother-in-law, the daughter-in-law, and the husband.” These meetings, facilitated by the Jharkhand government, are intended to improve communication in rural Indian joint-family households. Traditionally, a bride will move into her new husband’s family home, where she’ll often be subjected to the demands of her new family, especially her mother-in-law. Family planning is often the mother-in-law’s purview, partly because open discussion of sex can be taboo in marital relationships in rural India. The meeting area is a raised concrete platform covered in what appears to be felt, for comfortable seating; when I arrive, women of various ages are milling about, until Kanan Balan, the district program manager, calls for them to be seated. A small group of young men are already sitting quietly on one side, smiling nervously. They’re less boisterous than the women, who will talk and laugh and interrupt—and at one point burst into song—during my interviews. The loudest of the women is Sunita Malhotra, one of the mothers-in-law, who teases me for not understanding dialect. “We don’t cuss out our daughters-in-law anymore,” she tells me, smiling. “Before, we did it a lot. It was very abusive.” She tells me that she now understands that daughters and sons need to be educated equally, and that it will be easier to take care of a family with fewer children. “We’ve all become very wise.” When I speak with other, younger mothers, they talk about family planning with shy confidence, about how it will be easier to care for young children if their ages are spaced out a bit. But eventually, as I’m scanning the group to see who else I can speak with, I realise the men have all quietly left. Perhaps they would have been more comfortable if they hadn’t been so outnumbered—in a reflection of a national pattern, all of the health care workers present are women. In India, the idea that open communication and male involvement are keys to improving family health is slowly gaining ground. The Sammelan, meant to encourage direct communication, is part of that. This solution may seem simple and intuitive, but men and women in rural India are suspicious of many of the contraceptive options the government has on offer. The mother-in-law will often preside over family planning decisions. Some experts chalk these doubts up to old-fashioned ideas, patriarchal culture, and poor education—all of which are undoubtedly factors. But the Indian government has frequently failed to prioritize individual well-being when it comes to family planning. These broader structural challenges come on top of family dynamics that make communication difficult. In a 1997 study, Indian men identified “shyness” as the number one reason they were unwilling to speak about family planning in their relationships. This means that the mother-in-law will often preside over family planning decisions. Generally, a mother-in-law’s priority is having grandsons, hopefully more than one. She’s also likely to encourage sterilisation as the only contraceptive—and ideally a daughter-in-law should have as many sons as possible before she starts using contraception. In a study(pdf) conducted by Arundhati Char, Minna Saavala, and Teija Kulmalain in 2010, mothers-in-law also prefered sterilisation because they saw it as a more “decent method.” One mother-in-law told the researchers, “When I went to the hospital with my daughter-in-law during the delivery of her last child, the doctor showed me some condoms and suggested that I ask my son and daughter-in-law to use them. I refused to even hold one in my hands. I don’t want such dirty things in my house.” Another added, “When there is sterilisation, why tal

6 days ago

A new Weekly $BURST Report is out - Scavenger v1.6, Burst Ex...

A new Weekly $BURST Report is out - Scavenger v1.6, Burst Extensions, Global Stickers Campaign, and more! Get the l… https://t.co/BB4LcxUUyb

6 days ago

Report: Bitcoin Fails to Capitalize on Pressing World Economic Issues - Odds Don’t Look So Favorable in the Future

Business Wire reported on Oct. 9 that Juniper Research, a UK-based research firm, released a report stating that Bitcoin’s price not only has plummeted since the beginning of the year but also has failed to take advantage of ongoing US-China trade wars, weak fiat currencies, and Brexit uncertainty. The report, entitled “The Future of Cryptocurrency: Bitcoin & Altcoin Trends & Challenges 2018-2023,” further claims that if Bitcoin fails to recover on such favorable conditions, how can it recover when the conditions change for the better? The same report also highlighted that the daily transaction volume is down to 230,000 in Sept. 2018 from as high as 360,000 in late 2017. Bitcoin’s Favorable Conditions Which It Should Have Capitalized On Despite a slow start to the year because of uncertainty in regulation, Bitcoin was handed a lifeline by some negative economic developments as the year progressed. Firstly, it was the collapse and weakening of fiat currencies, and this was expected to work directly in favor of cryptocurrencies. Venezuela introduced a national cryptocurrency backed by oil and natural resources as a countermeasure to hyperinflation, which had eroded the country’s fiat currency. In August, the country reformed its financial system by introducing a new currency denomination, the bolivar sovereign, which is closely tied to the defunct bolivar but had fewer zeros. Still, in South America, Argentina’s currency, the peso, has lost more than half of its value since the beginning of the year because of runaway hyperinflation, fiscal deficit, and debt obligations. Other currencies that have weakened this year include Mexico’s peso, Russia’s rubble, Turkey’s lira, Brazil’s real, India’s rupee, and South Africa’s rand. In June, US President Donald Trump accused China of intellectual property theft in a White House statement and imposed “a 25 percent tariff on $50 billion of goods from China that contain industrially significant technologies.” Trump warned China against retaliation. China, unfazed by Trump’s threats, accused Trump of triggering “the largest trade war in economic history” and retaliated by taking similar countermeasures on US imports. The trade wars will slow down world economic growth, which was projected by the International Monetary Fund to expand by 3.9 percent in 2018 and 2019. Another big issue this year is Brexit and the effects of its uncertainty in the UK and the eurozone. It will have implications for both the UK and Europe at large. For example, a bad Brexit deal will put 40,000 automotive jobs at risk. Bubble in the Making The study also questioned the prospects of Bitcoin in the future because of strict regulatory measures and how the cryptocurrency is evaluated. In the report, Dr. Windsor Holden said: “Bitcoin has no intrinsic value. Like any asset, it is worth whatever someone is prepared to pay for it, but it has no meaning or existence beyond the confines of the ledger. It is a bubble, and there is a strong possibility that this bubble could burst in the near future.” Report: Bitcoin Fails to Capitalize on Pressing World Economic Issues - Odds Don’t Look So Favorable in the Future was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

9 days ago

Bitcoin [BTC] and cryptocurrencies are the biggest bubbles, scams in history, says Nouriel Roubini

An unceasing critic of Bitcoin [BTC] and other cryptocurrencies, Nouriel Roubini, alleged that cryptocurrencies are the “mother of all scams”, in a recent statement. In a testimony for the hearing of the US Senate Committee on Banking, Housing and Community Affairs On Exploring the Cryptocurrency and Blockchain Ecosystem, he also said that blockchain was the most “over-hyped technology ever”. He compared blockchain to a normal spreadsheet and database and said that it was only as effective as them, irrespective of whatever technology it was using. The financial market expert, popularly known as Mr. Doom for his perpetual bearishness, said that we were in a post-apocalypse world following the cryptocurrency bubble burst a year ago. He blames the wrong attention for the “maniacal frenzy” for buying Bitcoins and said that it was a breeding ground for illegal activities. He states in his testimony: “Scammers, swindlers, criminals, charlatans, insider whales and carnival barkers (all conflicted insiders) tapped into clueless retail investors’ FOMO (“fear of missing out”), and took them for a ride selling them and dumping on them scam(my) crappy assets at the peak that then went into a bust and crash - in a matter of months - like you have not seen in any history of financial bubbles.” Mr. Doom then goes on a wild goose chase mentioning the drop in prices of all cryptocurrencies. He quotes a study that had revealed that “81% of all ICOs were scams in the first place, 11% of them are dead or failing while only 8% of them are traded in exchanges” and calls the current state a true Crypt-Apocalypse. For a currency to be valid, he says, they need to be a means of payment, should be a serviceable unit of account and a stable store of value. As the markets are volatile, he argues that Bitcoin can never be a currency. Investors and consumers would rather trade BTC to make a profit than use it as a day-to-day currency. He says: “As is typical of a financial bubble, investors were buying cryptocurrencies not to use in transactions, but because they expected them to increase in value... It is so energy-intensive (and thus environmentally toxic) to produce, and carries such high transaction costs, that even Bitcoin conferences do not accept it as a valid form of payment.” His testimony then goes on to explain why Bitcoin was deflationary. As they don’t have any intrinsic value and does not track a potential nominal GDP, they will undergo deflation sooner or later. The post Bitcoin [BTC] and cryptocurrencies are the biggest bubbles, scams in history, says Nouriel Roubini appeared first on AMBCrypto.

10 days ago

Which blockchain could become the Ethereum Killer?

When Ethereum burst onto the scene in 2015, this second-generation blockchain technology was to be everything that Bitcoin was not. More secure, more adaptable, more intelligent, and more future-proof than the first generation grandfather of the cryptocurrency revolution. Originally the brainchild of Bitcoin Magazine co-Founder Vitalik Buterin, the concept for Ethereum was born in a ...

10 days ago

Cryptocurrency Can Function Without 'Tapping Power from the Grid'

The increase in the popularity of cryptocurrency has prompted the introduction of new coins which aim to solve diverse problems. For instance, ECO coin rewards people for environmentally sustainable actions. Similarly, Burst is a coin whose developers have found a way to tap into solar energy. According to Burst’s team, they have managed to perform a cryptocurrency transaction using a combination of solar power, short-wave radios, and blockchain technology. Burst says that it has conducted the first off-grid cryptocurrency transaction in history. Best of all, the Burst team asserts that the technology used is not expensive. (KE)

18 days ago

#ETN’s awesome run in the press continues! This fantastic pi...

#ETN’s awesome run in the press continues! This fantastic piece from Ethereum World News covers our recent burst of... https://t.co/wGgLCnPTB7...

19 days ago

How Do You Ethereum? A Step-By-Step Guide • Benzinga

When blockchain burst onto the scene at the beginning of the decade, few people took notice. Then, as the value of cryptocurrencies like Bitcoin grew, suddenly everyone wanted a piece of the action. Ethereum offered different products than Bitcoin, yet still built on blockchain concepts What is a blockchain? Blockchains are giant digital ledgers where...

23 days ago

Harnessing Solar Power and Radio Waves to Transmit Cryptocurrencies

In more serious discussions about the viability of blockchain and cryptocurrencies as a store of value and means of exchange, one point of contention is the reliance on the power grid, which can be controlled by a government or taken down. The blockchain platform Burst (BURST) seeks to address these concerns by creating a solar-powered blockchain that operates completely off-grid. The project claims to have completed a solar-powered cryptocurrency transaction using short burst radio waves, potentially making them the first project to have performed a fully off-grid transaction. (JF)

a month ago


The Block chain Toggle navigation BigBang: asset-specific public sector chain than the original version of the first test network release Block Chain Information 2017-09-29 16:45 Posted in Block Chain 0 1085 Hangzhou is not only the birth of innovation in the Internet such as the Internet giants, but also the emergence of a batch of scientific and technological innovation enterprises, in their respective areas to the world to see China's innovation strength. September 29, 2017, Hangzhou, China team developed the field of asset-specific public chain platform than the original chain (Bytom) officially released the first version of the test network, code-named "BigBang" - this is the first for the public in Hangzhou Block chain project. This version includes Bytom Core (Bytom core) and Bytomcli (Bytom's client tools), mainly by Golang implementation, the project with a complete test case, the core code has been open on the Github. The In the BigBang version, compared with the original chain to achieve a "multi-asset interaction function," the basic block chain structure design, the main functions are as follows: 1, to achieve a complete P2P block chain node communication module, based on the Reator mode node subscription communication message to block and transaction synchronization; 2, to achieve the basis of public and private key management functions, and leave enterprise-class service interface, the future can docking enterprise-class hardware security module HSM (Hardware Security Module); 3, to achieve the multi-asset release (Issue), pay (Spend) the basic functions, and programmable scripting system (Control Program); 4, the innovative addition of the class "segregation witness" (SegregatedWitness) function, increasing the flexibility of the transaction. "The next version of the test network, we will focus more on the integrity and high availability of asset interactions, and access the block-chain assets through a similar domain name," said Yuyyu, who is in charge of the original chain development team. look forward to." It is understood that the original chain project was launched by Babbitt in January 2017, committed to connecting the physical world with the digital world, creating a diversified asset registration, circulation to the center of the network, can be diversified asset registration, exchange , Gambling, and contract-based, more complex interoperability. At present, there is no complete, effective block chain agreement system is designed for diversified bit assets, compared to the original chain is designed for the field of asset-specific private chain platform, for which technically carried out 8 Big innovation: 1. Compatible with UTXO design in traditional block chain; 2. Universal address format; 3. Support national standard; 4. Asset naming using ODIN logo; 5. Artificial intelligence ASIC chip-friendly POW (Proof of Work, Proof of Work); 6. Support for side-chain and cross-chain asset operations; 7. Class "Segregated Witness" design; 8. Enhanced transaction flexibility. Since June 2017 issued a project white paper, than the original chain team that is threw himself into the project development. The test network to complete the first part of the technical verification, can be described as rapid progress. It is worth mentioning that the BUTXO block chain asset release trading system based on the UTXO extension model is compatible with the UTXO model and transaction data structure of the bitcover to achieve high-speed concurrent and controllable anonymity. There is already a prototype available in the BigBang version. In addition, isolation and verification and matching BIP173-based new address format and a series of front-end block-chain technology are added to the BigBang version. In the project development process, than the original chain regularly announced the project development process every week, and according to the feedback on the development plan to make the appropriate adjustments. The release of the code-named "BigBang", meaning the Big Bang, then the formation of atoms, life was born. In this group of block geek's eyes, the test network as the Big Bang, as indicates that the future than the original chain will burst out of endless potential, so that the atomic world and the world of communication possible. BigBang's release is more exciting than the original chain of technical supporters, from more than a dozen countries than the original chain "iron powder" who also sent a congratulatory video, so that the original chain development team encouraged. It is understood that, than the original chain of members of the team, the underlying developer Gavin has worked in the US 500 company ARRIS GROPU for many years, participated in the Banknote Research Institute digital bill of the chain of the underlying development, Ethernet Square code developers; smart contract virtual machine development James is the designer and developer of the Magmic Inc distributed ga...

a year ago

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