Tuesday, May 22Your Daily Bitcoin & Altcoin News Portal
Bitcoin User Attaches $204,000 as a Transaction Fee

Bitcoin User Attaches $204,000 as a Transaction Fee

BITCOIN
An unknown bitcoin user attached a total of $204,000 in fees to a series of transactions on July 6th. Earlier this week, BTC.com -the world’s seventh largest bitcoin mining pool- discovered these transactions and excessive fees were sent from the same user. The transactions included many inputs and outputs and p2sh / multi-signature transactions. 80 BTC AS A TRANSACTION FEE?! WHAT HAPPENED? Currently, Bitcoin blockchain fee estimations put a median-sized transaction at about $0.20 for the transaction to be picked up from the mempool. According to 21 Inc, the median transaction size is 226 bytes. The size of bitcoin transactions can greatly vary depending on the number of inputs and outputs, along with other factors such as multi-sig and P2SH. Due to this variance in the size of tr
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Blockchain Startup Provenance Raises $800k in Seed Funding

Blockchain Startup Provenance Raises $800k in Seed Funding

BLOCKTECH
UK blockchain startup Provenance has raised $800,000 in new seed funding. The list of investors taking part in the round includes Humanity United, a foundation created in 2008 as part of a broader philanthropic network of groups backed by eBay founder Pierre Omidyar and his wife, Pam. Specifically, the group provided the funding through a supply chain initiative launched in 2015.  Other backers of the startup include Alexsis de Raadt-St.James, founder of Merian Ventures, startup accelerator Plug and Play Tech Center, investment firm Digital Currency Group, and a group of UK-based angel investors. In statements, the startup said that it planned to use the funding to fuel its product launch timeline, with initiatives set to be released this fall. Among those efforts: a partner
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Quantum Computers vs Bitcoin – How Worried Should We Be?

Quantum Computers vs Bitcoin – How Worried Should We Be?

BITCOIN
One of the greatest computer innovations everyone seems to be eyeing lately is Quantum Computing. In essence, quantum computing exploits quantum mechanics to perform computational tasks far quicker than a traditional computer can. This means that some aspects of Bitcoin could possibly be vulnerable, but how much do we need to worry? QUANTUM COMPUTING MIGHT CRACK PUBLIC-PRIVATE KEYPAIRS Research and development into quantum computing is accelerating, and the results are both interesting and worrying. Recently MIT scientists built a 5 atom quantum computer which threatens the very foundations of modern computer cryptography. The scientists behind the project are confident that their computer will put today’s encryption to shame. This means that public key encryption which keeps much
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Mobile Dapps – the Future of Blockchain?

Mobile Dapps – the Future of Blockchain?

BLOCKTECH
Mobile gambling is a huge niche that remains yet to be tapped completely. The internet traffic generated from mobile platforms continues to be on the rise while having already surpassed the desktop platforms generated traffic in 2016. With 68% of all internet traffic being mobile devices generated, the niche is full of potential. Recognizing this potential, iDice has created the world’s first mobile gambling Dapp. iDice aims to divest the blockchain gambling of its current limitations, which include blockchain gambling only existing on desktop platforms, thus forcing the users to deal with the cumbersome and unoptimized mobile versions of desktop apps in order to play any of these games. The mobile gambling segment is a huge market and full of potential. Despite all this, there h
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Mauritius is Actively Working to Become the ‘Ethereum Island’

Mauritius is Actively Working to Become the ‘Ethereum Island’

ETHEREUM
Ethereum startup ConsenSys is actively exploring a partnership with the African nation of Mauritius that could create a so-called “Ethereum Island,” a hub for blockchain technology innovators that would seek to branch out into Africa, Asia and beyond. Joseph Lubin, founder, and a team of other top executives from ConsenSys – the New York-based decentralized application builder – toured the island July 5–7 to meet with the nation’s Board of Investment, the Bank of Mauritius and other private and public sector authorities. Mauritius, located 700 miles east of Madagascar, has established itself as an offshore financial center and is actively looking to do same with regard to blockchain and related technologies. Late last year, it began the process of establishing a regulatory sandbo
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Wall Street Journal: Bitcoin ‘Need Not Compete With Dollar’ For ‘Respect’

Wall Street Journal: Bitcoin ‘Need Not Compete With Dollar’ For ‘Respect’

BITCOIN
The Wall Street Journal has joined the increasing number of mainstream news sites newly bullish on Bitcoin. In an article Monday, Northwestern University law professor John O. McGinnis led a buoyant appraisal of the virtual currency’s potential versus government-controlled fiat. “To continue to flourish, Bitcoin does not have to become a more stable store of value than the US dollar,” he wrote together with lawyer Kyle W. Roche. “It can climb the rungs of respectability by prevailing over less trustworthy currencies.” Bitcoin’s appeal over national currencies has been a classic area of criticism and even ridicule from mainstream sources in the past. Commentators such as Business Insider CEO Henry Blodget told networks such as CNBC just months ago that Bitcoin “has no intrins
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Bitcoin Gains In Popularity in Arizona As US Bitcoin ATM Network Grows

Bitcoin Gains In Popularity in Arizona As US Bitcoin ATM Network Grows

BITCOIN
Coinsource, the largest Bitcoin ATM networks in all of the US which operates 117 Bitcoin ATMs throughout the country, has installed yet another ATM in Arizona, local publications including ABC15 Arizona reported. In an interview, Bobby Sharp, the co-founder of Coinsource, explained that Bitcoin ATMs are popular amongst beginner and casual Bitcoin users and traders that have difficulty at times due to the nonphysical nature of Bitcoin. More to that, Bitcoin trading platforms and service providers are required to implement and integrate strict Know Your Customer (KYC) and Anti-Money Laundering (AML) system that demand customers to provide documents such as bank statements and licenses that may be difficult to obtain and acquire. Sharp told ABC15, an Arizona outlet of ABC, a major US
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Bitcoin + Post-Trade? Nivaura Exits Stealth to Help Banks Use Open Blockchains

Bitcoin + Post-Trade? Nivaura Exits Stealth to Help Banks Use Open Blockchains

BITCOIN
Until today, all that was publicly known about Nivaura was its presence in some rather elite blockchain incubators – ranging from JP Morgan’s in-residence program to two terms in the UK Financial Conduct Authority’s regulatory sandbox. But it turns out the little-known startup based on Liverpool Street in London, has been doing a lot more than just hobnobbing with bulge bracket banks and building proofs-of concept. As revealed exclusively to CoinDesk, Nivaura has formed key partnerships with banks and others in the financial markets space, and has been granted what it described as “restricted” permission from the UK regulator to execute the process of issuing financial instruments and administering them after their release. If successful, the series of experiments (which inc
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Equity Markets on a Blockchain: Delaware’s Potential Impact

Equity Markets on a Blockchain: Delaware’s Potential Impact

ADOPTION, BLOCKTECH
Last week, Delaware passed amendments to state legislation that, once signed into law by the end of July, will give corporations registered in the state the right to issue and trade shares on a blockchain platform.  While this may on the surface sound like a small modification, it is a big deal. Companies and exchanges around the world have been investigating how distributed ledgers could help with issuance, execution and settlement (some have even issued shares on a blockchain). However, they have been doing so under a cloud of regulatory uncertainty, unsure of whether the stakeholders – including the relevant governing bodies – would allow the innovations to take hold. For the first time, businesses will be able to experiment with new processes knowing they have the protection
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Digital Currency Market Cap Touches a Recent Monthly Low

Digital Currency Market Cap Touches a Recent Monthly Low

FINANCE
The crypto markets continued to bleed on Monday, as the total value of all cryptocurrencies dipped below $90 billion. Leading the retreat were bitcoin and ethereum, whose prices both fell by at least 4.5%. Altcoins, as usual, were hit even harder, causing 10 of the top 15 coins to post weekly declines of at least 10%. The markets had spent the past few weeks attempting to stay above the $100 billion threshold, but even that number now appears out of sight. At $87.9 billion, the current total crypto market cap has reached a monthly low. It is also the first time in July the total market cap has dropped below $90 billion.   Bitcoin Price Stumbles Despite a slight decline, the bitcoin price had remained relatively stable for the past week. That changed on Sunday when the ...