blockchain Archives

7 Dec 0

Infographic: Comparing Altcoins

Comparing Altcoins: what features make each altcoin different

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jorge

blackcoin, blockchain, cryptocurrency, cryptoeconomics, Dogecoin, infographic, litecoin, mastercoin, omni, tether

Articles, blackcoin, blockchain, cryptocurrency, cryptoeconomics, Dogecoin, infographic, Infographics, litecoin, mastercoin, omni, tether

29 Oct 0

Microsoft to Sponsor the Ethereum DΞVCON1 Conference

The Ethereum DevCon1 conference is set to take place on November 9th in London. In a recently published blog post by George Hallam, the Ethereum team announced that Microsoft would be one of the sponsors of the first-of-its-kind event. MIcrosoft and Bitcoin have had a somewhat strong relationship since the American company started accepting it last year. Now, it seems that “Bitcoin 2.0” technology like Ethereum is taking some of the institutional attention away from Bitcoin. Vitalik Buterin, one of the founders of Ethereum, commented on the sponsorship:

“DΞVCON1 is very excited to work with Microsoft and we look forward to having them in London.”Microsoft’s head of US Technology Financial Services, Marley Gray, explained more specifically why Microsoft had taken an interest in this international and decentralized technology event:“Microsoft is excited to sponsor and attend Ethereum’s DevCon1. We find the Ethereum blockchain incredibly powerful and look forward to collaborating within the Ethereum Community. We see a future where the combination of Microsoft Azure and Ethereum can enable new innovative platforms like Blockchain-as-a-Service. This will serve as an inflection point to bring blockchain technology to enterprise clientele”.

“Blockchain-as-a-Service” is a new term that we will undoubtedly hear more of in the coming years. Most everyone involved in the technology side of their business is familiar wit Software-as-a-service (SAAS) which has given rise to incredibly large corporations. In contrast, the service that the blockchain provides is removing the need for people and points of failure in the middle and back office. Smart contracts and blockchain-as-a-service obviously go hand in hand. What will be most interesting is if Microsoft’s potential use of Ethereum in their Azure platform is what finally prompts Amazon to get into the decentralized digital currency game. One can only hope.

Ethereum DevCon1 Is Bringing Interesting Companies and People Together… For a Better FutureAlready, it has been confirmed that not only will Microsoft be in attendance, but so will Nick Szabo. That is actually no surprise given that Szabo coined the term “smart contract” many many years ago and has become increasingly vocal on the internet as his pet idea has started to come to fruition. Smart contracts are a large part of Ethereum’s mainstream appeal, though the concept is still in the process of gaining momentum. The future prospects of robots and computers replacing humans for certain types of jobs has always been on the fringe of human imagination. The more you think about smart contracts, the more you realize that such a futuristic world couldn’t exist in a stable state without something like smart contracts. As panelists at the Money20/20 conference stated:

“Cryptocurrency is the most natural way for machines to pay machines.”

Bitcoin-inspired blockchain technology, of which Ethereum definitely is, has seen a lot of validation lately. Other Bitcoin-inspired blockchain technology like BitShares is also gaining traction, though not in the form of Microsoft sponsorships. Besides the fundraising and actual release of Ethereum’s Frontier alpha and a shaky first few days, the formation of a conference is a milestone that most “altchains” never achieve – not that there was any doubt that Ethereum would make it this far, anyways. After all, even Imogen Heap has even started using Ethereum, why wouldn’t Microsoft be next?

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi

blockchain, Conference, cryptoeconomics, decentralization, devcon1, Ethereum, Europe, events, future, news, UK

Articles, blockchain, Conference, cryptoeconomics, decentralization, devcon1, Ethereum, Europe, events, future, news, UK

22 Oct 15

BitShares 2.0 – Will Users and Banks Be Using Graphene in the Future?

Graphene, the super material that our computer chips might be made of soon, still isn’t very well known. However, with BitShares 2.0 being called Graphene, the word might become a stable part of your lexicon soon. The BitShares 2.0 has been long anticipated by both the BitShares and cryptocurrency communities. Since its announcement earlier this summer, BitShares has started to restructure themselves in preparation for BitShares 2.0. Though they are adding a lot of functionality, the core stake distribution is not changing at all. In testing, they have been able to sustain 3000+ tx per 3sec block, compared to the 7 transactions per second that the Bitcoin network is theoretically limited to. To reach even larger network sizes, Graphene is tapping into the same future expectations that Bitcoin users expect to keep their network viable: Moore’s Law. The pace of technology is such that eventually just one rented VPS will be able to handle all of the world’s financial transactions.

“We can trade peer to peer anywhere in the world in a few seconds. We’ve got capacity for every existing exchange to become a member of our network, treating their own customers to the combined market depth of all exchanges on a shared transparent ledger.”

Graphene works as an open source toolkit, and the original BitShares team needed this change because they were having to sell BitShares just to keep going. The list of new features include:

Votable Network Parameters, Flexible and Dynamic Access Control, Transferable Account Names, On-Chain Proposed Transactions, a New Full Node/Client Concept, a Referral Program, Recurring and Scheduled Payments, and the addition of new Privatized BitAssets. More information about Graphene and the newest features can be found here.

BitShares Style Decentralization Is What Banks Need

Decentralization provides the BitShare network, and all altcoin networks, with a new type of security that banks do not have – maybe even for functions we traditionally use a bank for. A network that functions by consensus and push transactions instead of pull transactions, is almost a holy grail in the banking industry. It’s no wonder that we’ve seen banks rush to “blockchain” technology. BitShares is confident in their security, they commented:

“It’s impervious to the hacker attacks that even the biggest exchanges have suffered.”

BitShares was one of the first cryptocurrencies to to engage in fiat and asset pegging, which is an angel that banks will certainly be interested in exploring. As we see more and more banks enter the Bitcoin and blockchain space, though, how many of them will realize that BitShares already has what they might need?

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi

adoption, BitShares, blockchain, cryptocurrency, cryptoeconomics, news

adoption, Articles, BitShares, blockchain, cryptocurrency, cryptoeconomics, news

18 Oct 1

What will be the future implications of Bitcoin?

Bitcoin, with it’s public ledger will evolve in a transparent and certified system. The traceability, and all the other ways of data storing annexed to it can ultimately reduce frauds, forcing key financial systems to assure responsible behaviours, something that the current Moral Ethic does not guarantee.

The Bitcoin Blockchain is based on cryptographic proof rather than trust upon financial institution, and its process is extremely transparent.

The Blockchain will guarantee improvements in organizing business operations, ranging from investor’s accountancy, to protecting the consumer.

The people that keep track of financial/banking accountancy are today in the ideal position to consider the benefits and the cons of Bitcoin, and decide how this new technology will operate inside their business model.

Hence, the administrations of industrial companies should be the first to appreciate the practical-logistic use of Bitcoin to solve and improve the monetary problems with their clients.

We’re talking about an epoch change, not just about Bitcoin:

The invention of the Blockchain and of the decentralized consensus will reduce in a significative way organizing and coordinating costs on large scale systems, and at the same time will reduce the opportunities of power concentration, corruption and State failing.

Considering the challenge, and Bitcoin’s bright future, shouldn’t we all take part in the debates that shape this innovation?

Author: Francesco Simonetti, CEO HolyTransaction

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Satoshi

bitcoin, blockchain, cryptoeconomics, decentralization, education, technology

Articles, bitcoin, blockchain, cryptoeconomics, decentralization, education, technology

15 Oct 1

Chainthon – The Bitcoin and Blockchain Hackathon in Athens, Greece

Athens, Greece is about to have its first Bitcoin and Blockchain Hackathon, aptly named the Chainthon, on October 17th. The hackathon is a direct response to growing support for Bitcoin as well as growing pressures on the local financial system. The Hellenic Bitcoin community explained their situation in a press release:

“This year, we are witnessing an economic crisis escalate into a humanitarian crisis. Hundreds of thousands are fleeing the war in the Middle East in search of a better life, only to find different obstacles in Europe. Many of the countries they travel through are facing a severe economic crisis, making it difficult to transfer money or receive donations.”

The refugee issue facing much of Europe has reignited age-old tensions between ethnic groups that have been at odds for centuries. The growing amount of forcefully or willfully unbanked refugees and ex-pats is an immediate use case for Bitcoin technology. However, it is almost certainly the latter group of ex-pats, not refugees, that are currently taking advantage of Bitcoin. George Papageorgiou, the organizer of the event, laid out the main goal of the event:

“The Hellenic Bitcoin community is hosting a hackathon aiming to increase awareness locally and tackling the more prevalent issue of value transfer in situations of socioeconomic crises. We will try to hack together, a practical and accessible system that can transfer donations to anyone without requiring a lot of education or an intermediary.”

HolyTransaction is a digital currency company that believes in the promise of Bitcoin and blockchain technology. International payments, transfers, and people are our audience. As we’ve noted before, the Greek area is unique poised to benefit from the promise of Bitcoin and cryptocurrencies because of recent economic crises and also the new escalating pressures.

Introducing newcomers, especially those with strong developing and coding skills, to Bitcoin is a crucial service that cannot be promoted enough. HolyTransaction believes that people just finding out about Bitcoin should focus heavily on education. Read the whitepaper! Check out good Bitcoin videos, as it’s often easier to listen to a charismatic speaker than it is to read a dense wiki.

If you are in Athens, please check out the first Greek Bitcoin and Blockchain Hackathon. HolyTransaction supports Bitcoin events and would love to hear about your upcoming Bitcoin or Blockchain hackathon.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi

adoption, bitcoin, blockchain, chainthon, Greece

adoption, Articles, bitcoin, blockchain, chainthon, Greece

10 Oct 1

Imogen Heap Releases New Single Using Ethereum

In a recent event at Guardian live!, popular music artist Imogen Heap talked about the release of her new song, Tiny Human, on the Ethereum blockchain. By working with BitTunes, Ethereum Developers recently demonstrated smart contract functionality by purchasing the song using Ether. Imogen started with just a thought:
“And I thought, wouldn’t it be nice if I could decide what I wanted to do with my music, who I wanted to have it for free, or not have it for free?”

She eventually found her way to the bleeding edge of technology and has now officially brought her music to the digital age with blockchain smart contracts.

Music Is Finally Entering the Digital Age

Since the days of Napster, LimeWire, and even iTunes, music has come a long way in the digital age. Before physical mediums for music storage and music playing were developed, the only way to purchase music was to buy a single listen in the form of (likely) an orchestra or choral concert. With physical medium such as vinyl, cassettes, CDs, and now MP3s, the business model changed to allow consumers to buy “unlimited” listens by having the music file. Newer services such as Spotify, Pandora, and 8Tracks have created a newer business model that returns to using the “listen” as the basic unit of measurement. Music ownership has progressed and regressed; however, the connection between artist and music buyer has only continually grown wider and wider. Imogen commented:

“…now, you get a download, but often it’s not connected to the artist in any way.”

Blockchain Technology Allows for New Possibilities

After talking about blockchain technology with her friend Zoë, Imogen realized that technology had finally reached a point where users could get a download that is connected to artists in a financial way. Imogen described her realization:“I realized there is actually a way that you can connect a file with its payment attached into a digital wallet. And so when somebody listens to a track — the technology is very close to being there — it immediately recompenses me, and then I can split it off to my choreographer, to Zoë for thanking her, to whatever, it can immediately go into their bank accounts. Instead of having to wait two years, sometimes, even more, for money to come back to me, it can be instant.”

It turns out that technology can benefit the fans, who can receive provable special attention from their favorite artist, and the artists, who can receive payments sooner and with less middle men in between. Imogen Heap’s decision to use Ethereum and blockchain technology now that she is free of the shackles of contracts made by record labels tells us something about the future. This same move toward smart contracts will be emulated in other industries. Ethereum, and by extension Bitcoin and blockchain technology as a whole, will change the world.

About the author: Caleb Chen is a cryptocurrency advocate and research assistant at the Chamber of Digital Commerce.

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Satoshi

bittunes, blockchain, decentralization, education, Ethereum, Imogen Heap, smart contract, Tiny Human

Articles, bittunes, blockchain, decentralization, education, Ethereum, Imogen Heap, smart contract, Tiny Human

5 Oct 0

Bitcoin’s Monthly Recap of September 2015

Welcome to HolyTransaction’s ninth monthly recap for the year 2015. This past month of September has been marked by some pretty developments in old cases and the long awaited release of new products; during that time, the bitcoin price rose from a low of $229.86 on September 1st to a high of $236.12 on September 30th, according to Bitcoin exchange Bitstamp.

Mike Tyson Proud to Be In Bitcoin, Opens Bitcoin ATM in Las Vegas

https://coindesk.com/mike-tyson-im-grateful-to-be-part-of-the-bitcoin-revolution/

Weeks ago, Mike Tyson announced that he would be releasing a Tyson branded Bitcoin ATM in Las Vegas. The Lamassu Bitcoin ATM currently sits at the Linq in Vegas, is the 7th in Sin City, and has gathered a lot of attention. Tyson believes that Bitcoin will grow as education on it grows. He commented: “People don’t really understand a currency based on numerical equations. I personally still don’t … but I’m grateful to be a part of the revolution and hoping that my participation in this space will lead to more conversations and help increase knowledge and awareness.”

More Corruption in FBI Silk Road Case As Variety Johns Comes Forward

https://motherboard.vice.com/read/variety-jones-a-corrupt-fbi-agent-is-hunting-me-so-im-turning-myself-in

Variety Johns, the man long associated with working with Ross Ulbricht and Silk Road, has turned himself in and revealed a very convoluted tale. He claims that a corrupt federal agent is threatening the Ulbricht family and is in control of an encrypted Bitcoin wallet with Ross Ulbricht’s bitcoins. Posting to the internet, Variety Johns revealed his real name and the alias of the supposed agent hunting him: Diamond. The years old investigation into Silk Road is still ongoing.

21 Inc. Releases 21 Bitcoin Computer

21 Inc., one of the most well-funded Bitcoin companies in the world, has released its first product: the 21 Bitcoin Computer. At its core, the Bitcoin computer is just a Raspberry Pi 2 with an attached 21 Inc. Bitcoin mining chip that is rather efficient. The Bitcoin computer enables a developer to have full access to the Bitcoin network as a full node. Already, the computer has become the #1 best selling server on Amazon.

R3 Blockchain Initiative Brings 22 International Banks Together

https://bitcoinmagazine.com/articles/r-blockchain-development-initiative-grows-to-banks-worldwide-1443553081

In a sure sign of the times, many big name banks from around the world have committed to working with new Bitcoin company R3. R3 is planning a blockchain development initiative that will update the financial infrastructure that banks use to include blockchain technology, whether or not Bitcoin will be involved remains to be seen. The CEO of R3 stated: “The addition of this new group of banks demonstrates widespread support for innovative distributed ledger solutions across the global financial services community, and we’re delighted to have them on board.”

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi

adoption, bitcoin, blockchain, mining, newsletter

adoption, Articles, bitcoin, blockchain, mining, newsletter