What is litecoin, what is its difference from bitcoin and how this currency can change the crypto industry.
According to the official website, litecoin (LTC / USD) is “a peer-to-peer Internet currency, which includes almost zero-cost payments to anywhere in the world. Litecoin is an open source code, a global payment network that is completely decentralized and does not the controlled of any central authorities. ”
If you have heard about bitcoin (Bitcoin), then this definition will seem familiar to you. The fact is that litecoin is based on the same open source code as bitcoin, but with some technological differences. Litecoin was not created in order to replace bitcoin, but to become an additional means of payment, a kind of silver. This instruction will help you to understand the difference between the two cryptocurrencies.
Mastercard is ready to work with national cryptocurrencies. This statement was made by the executive director of the Mastercard branch in the Asia-Pacific region Ari Sarker. “As long as such currency is supported by the regulator and value, it is not anonymous and meets all legislative norms, this is a very interesting direction for us,” he said. Well forward and with the song, in the world there are so many national “crypto” and everything, as for selection, is terribly relevant.
Last Sunday, an international group of regulators said that cryptocurrencies do not pose a threat to global financial stability. In a letter published on March 18, the chairman of the Financial Stability Board and the head of the Bank of England, Mark Carney, said that at this stage of the development of crypto there is no threat in them. In particular, he wrote: “Their small size and the fact that they are not currency substitutes and very limited for use in real economy and financial transactions mean that the connection with the rest of the financial system is limited.” Well, yes, and one of the main issues on the agenda of the G20 was done, because there is nothing to discuss and nothing more. Of course, cryptocurrencies are not at the moment able to have traditional financial systems, but to call them completely insignificant – it’s silly. Truth, as always, somewhere in the middle.
Sky News reports that due to the increased attention of regulators to the cryptocurrency industry and numerous investigations by the regulator regarding ICO-projects, Twitter will prohibit advertising crypts, ICO and cryptocurrency purses within two weeks, and may prohibit advertising of almost all cryptocurrency exchanges.
The blockchain is increasingly used at higher levels. The central bank of Singapore and the Bank of Canada have concluded a partnership in which interstate payments using their own tokens will be tested. The head of the Singapore bank said that in the framework of the project, called Ubin, the Singapore authorities want to use the blockchain to provide cross-border payments between enterprises and even two successful tests have already been conducted. Successful cooperation between the two states at this level (and even the very fact of his attempt) can powerfully signal to the others to use blockchain, and either you join or remain on the sidelines of progress.
For the first time in history, an entire section of the annual economic report of the US Congress was devoted to cryptocurrencies. In the report itself, the past year 2017 was generally called “the year of the Cryptocurrency”. Perhaps, this is the case, and the further, the stronger the crypt will enter the life of society and people around the world, some would not like the opposite.
The cryptocurrency hype led to the creation of new types of computing clusters – special farms for mining. While your neighbor throws rubbish from the balcony and stores it on the new GTX, the guys from New Mining attract investors and collect 40-foot containers stuffed with specialized equipment for round-the-clock bitcoins mining. Through the roar of the fans, we reached out to these enterprising enthusiasts and went to see what and how.
In the data center for industrial mining at once you will not come in. Here, as in a spaceship, a lock compartment is provided. If you connect the stairs and the engine room with one door, then the airflow will blow everything that lies badly.
Before the trip, we thought that we would see all the equipment right in the container, ready to be transported to anywhere in the world. But for now the farm is working indoors. Therefore, we’ll start with a story about the infrastructure in its current form, and then – about how New Mining can create the same in a clean field.
Lightning Labs officially launched a beta version of the Lightning Network for the bitcoin network. Providing the opportunity to send bitcoins and lightboxes without taking into account transactions in the blockroom, Lightning Network makes these crypto-currencies even more convenient and effective. CEO of Lightning Labs Elizabeth Stark noted that one channel allows you to transfer up to $ 1,400, the transaction size should not exceed $ 400. In addition, Lightning Labs said that it attracted $ 2.5 million from a number of investors.
The financial regulator of the US sent cryptocurrency hedge funds to the court and information requests. According to a source from Bloomberg, the regulator is still planning to monitor compliance with the requirements for the protection of client funds and study the methods of investment valuation. Also, the SEC is interested in information about possible conflicts of interest among fund managers and is going to sort out using SAFT to circumvent legislation. There is a feeling that something is sure to be found and the heads will fly.
Next week, within the framework of the G20 summit, which will be held in Argentina, there will be two separate discussions on the topic of crypto-currency in order to develop a global approach to industry regulation. The first meeting will take place on Monday, the second will be held on Thursday. From a public document (pictured) it is known that cryptocurrencies and blockchains will be in the spotlight. Participants want to find ways to reduce risks that can not interfere with the development of innovation. Representatives of various countries, such as the US, Japan and Germany, have long called for a discussion of the crypt within the G20, and finally their dream will come true.