Source: Marco Verch

Last week Binance announced it was throwing its hat into the ring of stablecoin suppliers, with its dollar-backed Binance USD (BUSD). The world’s biggest cryptocurrency exchange seeks to offer investors a fully-backed stablecoin with regulatory oversight, having received the approval of the New York Department of Financial Services (NYDFS). We might expect that once live and established, BUSD may be used in trading pairs where Tether (USDT) is currently. That would have impactful consequences, but the context of this should be addressed first.

Over the past two years, dozens of fiat-backed stablecoins have been announced and over a dozen are…


Despite a sluggish price performance through summer 2019 Bitcoin’s hashrate has reached new peaks, with a record 80 quintillion (80 followed by 18 zeroes) hashes per second on the 29th of August 2019. The hashrate has been climbing steeply since March, initially coinciding with BTC’s rise in value from $3,300 upwards, but maintaining growth even as the value topped out in late June. The current hashrate levels are more than 8 times higher than those observed in December 2017, when Bitcoin reached its all time high in USD value.

Bitcoin all-time hashrate. Source: blockchain.com

A number of factors may contribute to this surge. Primarily, it…


Source: Marco Verch

Upon its creation at the very beginning of 2009, Bitcoin immediately presented as a fascinating economic supply model on top of its obvious use as a digital store of value and as a means to transact globally. Bitcoin operates with a fixed total supply and a geometrically decreasing rate of issuance until that fixed cap — 21 million coins — is reached. In simpler terms, every four years the number of Bitcoin issued per day is cut in half, in what is often called the ‘halvening’. The timeframe is itself based on a set block schedule: every 210,000 blocks, which…


ASICs mining bitcoin. Source: rebcenter-moscow

In the world of proof-of-work based blockchains, no security threat looms larger than the 51% attack. This has long been the greatest worry for the security of Bitcoin’s network, where no hacking event has posed any considerable risk to date. Naturally, those blockchains which adopt some variant of Bitcoin’s pioneered proof-of-work consensus algorithm must also reckon with this potential, and successful 51% attacks in altcoins have demonstrated that it is far from just a hypothetical scenario. …


J.P. Morgan Tower, London. Credit: Håkan Dahlström

A sizeable number within the crypto community see tremendous potential for enormous pre-existing companies, in particular banks and tech giants, to adopt cryptocurrencies in processing payments, organising their supply chains, dealing with customer identification and more. Very often the underlying assumption is that the technology offered (usually by their platform of choice) has such obvious benefits for time and cost efficiency, that it would be a no-brainer for these companies to test and begin implementing such blockchains. …


Last week, crypto-centric forums went abuzz with the discovery of a bizarre Ethereum transaction. The amount sent was normal enough: 0.1 ETH, around 14 dollars at the time. Nothing strange there. What stuck out was the fee: 2100 ETH, or 300,000 US dollars. The network was operating as normal at the time, so the usual gas price (about 2 cents) would have likely gotten the same transaction through. This was a mystery then — one with two possible causes.

The simplest answer, though painful to imagine, is a mistake by the sender. This happens with some frequency, as anybody with…


Source: PIRO4D

It is predominantly the interest in cryptocurrencies as a speculative investment and (secondarily, as we are forced to concede) the technological advancements promised which dominate the discussion of blockchain projects and their tokens. That is somewhat unfortunate, because they have proven and continue to prove an incredible ground for experimentation, far beyond that of just advancing cryptography. Bitcoin itself was a remarkable experiment — not merely from a technological perspective, but also an economic and social one. It proved that a digital token under the right circumstances can have real value on a global scale, and this value can be…


Source: 12019 on Pixabay

Back in December 2017, Venezuela’s president Nicolás Maduro announced the country’s very own native cryptocurrency, the Petro. A stablecoin of sorts, the Petro would be backed by the nation’s oil reserves (the largest in the world), as well as reserves of gasoline and precious metals. Exactly how this would work in practice was not clear at the time, but it hardly mattered — December 2017, of course, was the golden age of crypto. One could figuratively roll a dice, bet on any coin at random and triple the investment in a week. Blockchains were being discussed on mainstream TV stations…


Source: geralt

Zero knowledge proofs, such as those incorporated in ZK SNARKS, are becoming the go-to privacy technology sought in blockchains at present. This is for good reason — they allow for true “zerocoin” transactions, meaning that coins transferred have no transaction history which can be tracked through the blockchain, and even the amounts are obscured from outside parties. Users transacting with these currencies can rest assured that their identity or use of funds will not be ascertained by any third party, regardless of their resources — an extremely powerful idea. However, problems will occur when they seek to exchange these currencies…

Viewnodes

ViewNodes focuses on passive income by deploying masternodes, staking or delegating. We also enjoy engaging in some of the larger discussions in crypto.

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