Bitcoin News April 2nd
Bitcoin News April 2nd
Blocksize scaling up to 4 MB can be adopted by 90% of existing nodes and does not pose any risk to the system, according to a research of the New York-based Jacobs Technion-Cornell Institute.
The new study entitled “On Scaling Decentralized Blockchains” was prepared by the Initiative for CryptoCurrencies and Contracts (IC3) at the Jacobs Technion-Cornell Institute. It reveals that approximately 90% of the examined 4,565 nodes (there are currently more than 7,000 nodes) would continue normal operation even with 4 MB blocks. This particular block size would allow to increase the speed of transactions from the current 2,5 to 27 transactions per sec.
Ethereum is a competitor of Bitcoin, like a shark is a competitor of a lion. You can have two apex species in different niches not competing
— AndreasMAntonopoulos (@aantonop) April 2, 2016
Brave Software has created an open source internet browser, made to compete with the likes of Firefox, Chrome, and Opera. The browser initially removes all forms of advertising from a webpage, including banners, pop-ups, tracking pixels, malware, and flash cookies. The platform then serves different ads in some locations.
Not a Joke – Toronto Stock Exchange Executive Anthony Di Iorio Wants to Turn Canada Into a Blockchain PowerhouseAnthony Di Iorio was one of the original founders of the Ethereum project, which received ample attention in 2016 as it passed a billion dollar market cap for the first time. Technology firms both inside and outside the Bitcoin industry are exploring the ways in which non-financial applications and Ethereum-based projects could change our world.
Di Iorio, for the most part, has been at the heart of this in Canada. The nation’s most-headlined FinTech project has been the Royal Canadian Mint’s MintChip project, which recently sold to nanoPay. But Di Iorio has commanded a large part of the remaining attention in Canada on Bitcoin and blockchain.
Now he wants to turn Canada into a financial giant and center of innovation around Bitcoin and blockchain technology.
This ELI5 video (22 min.) shows XTreme Thinblocks saves 90% block propagation bandwidth, maintains decentralization (unlike the Fast Relay Network), avoids dropping transactions from the mempool, and can work with Weak Blocks. Classic, BU and XT nodes will support XTreme Thinblocks – Core will not.
- Xtreme Thinblocks is a simple and successful technology, already running and providing “true scaling” with over 90% reduction in block propagation bandwidth, for all the nodes which are already using it.
- 3 out of the 4 leading node implementations (BU, XT and Classic) are planning to support Xtreme Thinblocks, but 1 out of the 4 (Core / Blockstream) is rejecting it – so Core / Blockstream is isolated and backwards, they are against simple true scaling solutions for Bitcoin, and they are out-of-touch with “dev consensus”.
- Core / Blockstream are lying to you when they say they care about centralization, because Matt Corrallo’s “Fast Relay Network” is centralized and Core / Blockstream prefers that instead of Xtreme Thinblocks, which is decentralized.
- Subtle but important point: Multiple different node implementations (Classic, BU, XT and Core) are all compatible, running smoothly on the network, and you can run any one you want.
During Wednesday’s evening broadcast of The Voice of Korea, the country’s foreign broadcasting service, the DPRK authorities claimed that Bitcoin had been invented by Kim Il Sung personally to grant prosperity to the people of Korea.
“The greatest and most ingenious Kim Il Sung was not only the greatest and most ingenious warlord, he also had the most profound knowledge of cryptography. His relentless care of prosperity of the free people of Korea still shines upon all progressive forces of the planet,” the Voice of Korea said.
he Voice of Korea also reported that Andreas Antonopulous and Gavin Andresen laid flowers “to the portrait of the great leader, father of the world’s cryptography and patron of distributed ledgers Kim Il Sung in deep respect of his majesty.”
“The resistance to propagation of bitcoin, continuing in obsequious western nations still opposing to the distributed democratic crypto-revolution guided by Juche, is a disgraceful phenomenon gradually declining and festering during last years. All six continents convulse in multi-million rallies calling the governments to give way to the iron pace of progress,” the Voice of Korea added.