In mid-November, the hardfork of bitcoin (SegWit2x) was due to take place, but the leaders of the companies leading the initiative decided to abandon this idea. As they say in their address, the implementation of the hardfork without the consent of the community would lead to a split in the mining capacities and, as a result, the emergence of competing blockchains
HardFork is the division of the cryptocurrency into two chains by changing the processing rules and adding blocks. After the hardfork, one branch works with nodes that support the new rules, and the second – with nodes that refused to support the changes.
Since the advent of bitcoin-blockchain has gone through a lot of hardforks. Some of them did not gain popularity for one reason or another (lack of support, bugs in the software), for example Bitcoin Unlimited, Bitcoin Classic, Bitcoin XT.
In today’s article, we will recall all the important hardforks: who, when and for what purpose, tried to “divide” bitcoin-network.
In early December, 2017, the names of the first official bitcoin-billionaires became known, which do not hide the fact of their condition. They were the twins Cameron and Tyler Winklewossy, familiar to everyone who watched the film “Social Network” about the history of Facebook. In the film, the rowing brothers (members of the Olympic Games in rowing) from Harvard are not shown in a very favorable light, but in fact they are quite advanced guys.
The brothers began to buy bitcoins in 2012, when they cost less than $ 10. But they made the main investment in 2013, buying about 120,000 BTC (1% of the total issue). For this investment, they used several million of the $ 65 million received on a claim against Facebook (which copied their idea of a ConnectU social network). Consideration of the claim took place in 2008, but the brothers forced the plaintiff to pay the world not with money, but with shares. So they were able to get money only after Facebook went to an IPO. Even then, the far-sightedness of the athletes from Harvard was evident.
Charlie Lee, former Coinbase technical director, sold all of his savings in the Litecoin (LTC) crypto currency he founded in 2011. Initially, the idea was to supplement gold (Bitcoin) with a kind of silver (Litecoin), with a lower price, easier mining and transactions.
Motives for such an act, Charlie Lee explained to Reddit. The main reason is a conflict of interests. The founder of the crypto currency says that he is sick of the situation when everyone is catching every word of him, and then they are accused. Whatever he says, these words affect the price of lightcoin. The price decreases or rises, and then accusations of market manipulation begin. It got to the point that some accused that Charlie does it for mercenary purposes, because he himself is in a short position. Because of the fact that he, as the owner of LTC’s largest capital, had too much influence.
Recently, Bitcoin has witnessed a rather remarkable event. A block was obtained in which the premium 12.5 BTC per block turned out to be less than the premiums for transactions 13.4 BTC. Of course, such situations occurred earlier as a result of errors, generosity, or different experiments on Blockchain, but for the first time such a situation was the result of a trend in the cost of transactions.
Perhaps Bitcoin requires banks or their counterparts?
We continue to deal with various wallets for cryptocurrency. Last time I did a bit of digging in software wallets, and today I’ll tell you a little about the hardware. At the beginning a small reminder.
Under the wallets in cryptocurrencies understand at the same time:
- set of keys for access to money;
- programs that manage these keys and allow you to conduct transactions on the crypto currency network.
In order not to be confused when we talk about the key set, I will use the term “private key”. Although we all understand that in the key pair there is also an open pair, and also that the pairs themselves can be several.
We will talk about the wallet exactly as a means of managing, storing and conducting transactions. Without a wallet, you cannot receive, save or spend your bitcoins or funds in another cryptocurrency. The wallet is your personal interface to a cryptocurrency network, similar to a bank account for a currency.
So, hardware wallets. Let’s start with the definition. Hardware wallets are physical devices designed to safely store cryptocurrency. Some software and online-wallets support the storage of funds on hardware wallets.
Before we start comparing specific models of hardware wallets, let’s see what most of these wallets are able to do, and we will dwell in detail on the features of each of them.
Let’s talk a little about wallets in cryptocurrencies. By “cryptocurrency”, I, in the first place, will have in mind Bitcoin. In other cryptocurrencies the situation is similar and if you are interested in details, you can check this out yourself.
Despite the ongoing hype around cryptocurrency and blockchain as technology, in my opinion, very few people are talking about the security of these solutions. Everyone is concentrating on the various advantages that blockchain technology provides, discussing the mining and jumping courses of cryptocurrency, while it is security that is critical, especially when it comes to money or distributed property registries. All information for the article is taken from open sources, such as https://bitcoin.org, https://en.bitcoin.it/wiki, https://bitcointalk.org, https://github.com and others.
Below is a shallow review of the cryptocurrency wallets and their security. The more I immersed myself in this topic while writing the article, the more I was surprised that there are so few hackers and withdrawals from users of the same Bitcoin. But first things first.
The new recycling program from Samsung finds new applications for old technologies. For example, according to the information published by Bitcoin.com, the company came up with a way to create a mining farm based on smartphones from the Galaxy line.
THE UTILIZATION PROGRAM ALLOWS WITH THE USE OF 40 USED GALAXY S5 SMARTPHONES, CREATE MINING FARM.
Certainly, when creating a “mobile” farm, some technical specifications for smartphones were improved. However, Samsung claims that eight Galaxy S5 can work with excellent energy efficiency, not yielding to a standard PC.
Such a mining farm was presented during the recent Samsung developer conference held in San Francisco. Creation is the brainchild of Creative Lab from Samsung, the inner center of innovation and development, which is located in Samsung Digital City, in Korea.
In addition to the platform for the production of crypto currency, the recycling program also found out that the old Galaxy tablet can easily turn into a laptop with Ubuntu. The company was also able to use the old Galaxy S3, with face recognition software as the basis for a home security system.
Fortune magazine invited leading businessmen working with crypto currency, venture investors, bankers and other well-known professionals to the Fortune Brainstorm Tech conference in Aspen, Colorado to discuss the future of digital money. The main meeting took place at the Aspen Institute during breakfast at the round table.
Headliners of the event were:
Balaji Srinivasan, general director and co-founder of the cryptocurrency start-up 21.co., who developed from a traditional venture company.
Peter Smith, CEO and co-founder of Blockchain, a British company that owns a bitcoin purse that grew from a subsidiary of Google, Alphabet (GOOG, -1.47%) thanks to venture capital of $ 40 million.
Kathleen Breitman, executive director and co-founder of the blockсhain start-up Tezos (ICO), which raised more than $ 200 million on pre-sales and initial coin issue, with the assistance of investor Tim Draper.
The team of experts conducted an analysis of all the events that have occurred since the creation of Bitcoin and the original blockchain-technology, up to actual trends related to attracting investments in ICO crypto-currencies, the sale of Ethereum-project tokens competing with Bitcoin. The seven main predictions about what decentralized networks are expecting in the near future are presented below.
While average consumers may be more than happy with dollars and keeping funds in gold, one of the founders of Apple, Steve Wozniak, a mathematician by education, believes that bitcoin outperforms them both as an intermediary and as a means of preserving value-one important reason: his mathematically defined stock of 21 million coins makes it impossible to lower the existing stock in the price, which makes it safer.
Wozniak shared his views on bitcoin and blockchain technology during an interview with CNBC correspondent on technology Deirdre Bosoy at the Money 20/20 conference in Las Vegas on Sunday. Accordingly, the theme of the conference is the future of payments, transactions and, of course, currencies.
There are a lot of newcomers in the crypto-currency area, and I would like to mark the differences between the Ethereum and the Classic Ethereum, which I consider to be key. I tried to be as objective as possible. You can discuss it, look for other points of view, no one’s opinion is an absolute truth.
Changeability of the blockchain
- Ethereum – in the record in the blockchain and contracts, it is possible to make changes, if the majority agrees to this (i.e., blockchain is changed).
- Classic – records in the blockchain and contracts will never change (i.e., blockchain is unchangeable).
Each approach has its pros and cons.
On the side of changeability is the idea that most have the wisdom to make the right decision. Therefore, more practical to cancel the transaction if the thefts and not to chase thieves
On the side of unchangeability – the opposite view that the majority, regardless of wisdom, can’t always make the right decision, so it is better to pursue thieves according to the existing legal framework.