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One emerging development that we are seeing within blockchain architecture is the growing need to construct the optimal consensus algorithm. These algorithms are fundamental in ensuring that network consensus as to the shared state of the ledger can be reached. What is Proof of Burn? We have seen the creation of a number of different consensus algorithms, with proof of work (PoW) being the most popular. Each type of protocol represents a different approach as to how blockchain consensus, in a distributed and trustless environment, can be achieved. In advancing…

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Welcome to the Friday edition of Bitcoin in Brief. The fourth instalment of this new feature from news.Bitcoin.com is the most eclectic yet, encompassing everything from Satoshi Nakamoto’s faux birthday to juicy snippets from the Tezos lawsuit. According to court documents, the project’s co-founder, Kathleen Breitman is a “one woman band”. Also read: Bitcoin in Brief Thursday: Busted in Bangkok Happy Birthday Satoshi Wherever You Are On Thursday, bitcoin’s pseudonymous creator was sent birthday greetings from all corners of the cryptosphere. The DOB Satoshi Nakamoto entered on his Bitcointalk forum profile…

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Automated systems comprise a fast growing technology paradigm that is already changing various industries, especially the payments industry. And, while various online payments companies offer their customers perks similar to those given by traditional banks, nowhere is there potential for radical value transformation in payment systems usage incentivization greater than in the blockchain space. A Payments Problem Meets a Decentralized Solution  The portion of the payments space representing startups and smaller companies like Venmo or Square Cash, while robust, still only comprise fragmented solutions that together could be powerful. More…

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Leading Danish bank, Danske Bank, has published a document announcing that the company does not wish to “support the investment environment surrounding cryptocurrencies.” Danske bank will “phase out the possibility of” its customers purchasing financial instruments comprising cryptocurrency derivatives. Despite the bank’s concerns pertaining to the risks associated with cryptocurrencies, Danske customers will still be able to purchase virtual currencies via credit card. Also Read: Iranian Officials Issue Contradictory Statements Regarding Telegram Ban  Danske Publishes Dismissive Appraisal of Cryptocurrency Markets Danske Bank has published a document outlining its “negative position” with…

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A blockchain-based platform, Verisart, aims to use the technology to not only protects artists’ work, but to also possibly revolutionize the art industry as a whole. Art is a multi-billion dollar industry. However, based on a recently released report, online sales only contribute 8% to this total, which amounts to approximately $5.4 billion. With the world digitizing itself at a rapid pace, online sales of art is a niche market that is yet to take off. According to The National, one factor that could hinder this is the lack of…

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The Reserve Bank of India (RBI) has officially ordered all regulated entities to refrain from providing services to any and all businesses involved in the dealing of digital currencies — including, of course, Bitcoin. Bitcoin Ban The announcement comes via an official press release issued by The Reserve Bank of India (RBI). Unsurprisingly, the RBI positions itself as merely looking out for consumers’ interests, while also citing the frequently used claims that cryptocurrencies are simply tools for criminals and those looking to undermine market integrity. At the same time, the…

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2018’s cryptocurrency charts have you feeling blue? Don’t worry. According to some experts, there are still plenty of riches to be made by investing in market leaders. ‘Still way too early’ In 2017, plenty of individuals joined the new crypto-rich crew. However, many also became crypto-poor — having been left holding the bag after buying at all-time highs. Explained Invest.com Senior Analyst Jesse Cohen to Forbes: It’s safe to say that the price action in the crypto market over the past few months has been very ugly. All the major…

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The Lightning Network (LN) has gained its first user mobile app in the form of ACINQ’s Eclair wallet which debuted April 4. More Consumers, More Products Continuing a trend of rapid innovation for Lightning, the wallet is currently available for Android devices running version 5.0 of the operating system and later. The release represents the first mainnet mobile wallet based on the increasingly popular protocol. “The Eclair Wallet is a next generation, Lightning-ready Bitcoin wallet. It can be used as a regular Bitcoin wallet, and can also connect to the…

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Monex Group’s recent announcement of an acquisition of Coincheck has been approved by both parties. What is the future of the cryptocurrency exchange? A week ago, Monex Group, a Japanese-based financial services firm, announced that they were planning on acquiring the Japanese cryptocurrency exchange, Coincheck. This deal, which was all the talk over the past few days, was recently confirmed by both parties. A Tough Start to 2018 Earlier this year, Coincheck suffered a hack which left them hanging from a thread. During the hack, the exchange lost approximately $530…

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Following suit with various other cities around the globe, South Korea’s capital city is looking to become one of the largest cities in the world with its own official cryptocurrency. S stands for S-coin South Korea is already one of the cryptocurrency capitals of the world. As such, the country’s capital city of Seoul is looking to adopt its own official cryptocurrency. Seoul’s mayor, Park Won-soon, proposed the idea to launch a city-wide digital currency – called S-coin – as a means to fund public welfare programs and pay private…

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