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| September 23, 2018

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U.K. Labour Party Faces Its Own Brexit Test

September 22, 2018 |

Prime Minister Theresa May isn’t the only British political leader presiding over a Brexit-riven party. Labour leader Jeremy Corbyn is in the same boat as his party gathers on Sunday for its annual conference.
WSJ.com: What’s News Europe

His Name May Not Be Familiar, but His Famous Test Endures

September 21, 2018 |

A psychologist by the name of Walter Mischel died this month at age 88, and if the name doesn’t ring a bell, a test he concocted in the 1960s just might. It’s the “marshmallow test,” and the premise is simple: Mischel presented young children with a marshmallow (or other treat)…
Newser

North Korea to Allow Outside Inspectors to Visit Missile Test Site

September 19, 2018 |

North Korea agreed to allow outside inspectors to visit its missile test site and said it would be open to decommissioning its nuclear-enrichment facility.
WSJ.com: What’s News Asia

PR: INLOCK Signs MoU with Institutional Lending Provider – Partners with Major CEE Crypto ATM Manufacturer to Test Its Platform

September 18, 2018 |

INLOCK Signs MoU with Institutional Lending Provider - Partners with Major CEE Crypto ATM Manufacturer to Test Its Platform

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

BUDAPEST (SEPTEMBER 18, 2018) — INLOCK, a crypto lending platform where licensed lenders can compete for borrowers who want to use their cryptocurrency as collateral for loans, announced today that it has signed a Memorandum of Understanding (MoU) with an institutional lending provider and entered a partnership with one of the Central and Eastern European Countries (CEE) region’s biggest crypto ATM manufacturers to test its Minimum Viable Product (MVP). The company launched the ICO for its ILK token on September 15, the anniversary of the Lehman Brothers collapse.

The CEE region’s crypto ATM manufacturer plans to integrate INLOCK’s services into all of its machines, enabling users to directly take out loans and receive funding in cash within hours. The crypto ATM manufacturer will act as a matching service provider by forwarding customers to INLOCK.

“Before we can begin to talk about crypto reaching mass adoption, we first have to be able to spend it.” said Csaba Csabai, CEO and founder of INLOCK. Since crypto can be such a volatile asset, people often hold onto it for future gains instead of spending it. INLOCK bridges this gap, and provides customers with the best of both worlds.”

The ILK token (ERC-20) will become an integral part of INLOCK’s ecosystem, serving as a proper utility token for customers to cover platform fees when taking out fiat loans with crypto collateral — all contractual activities will require ILK tokens. Because the platform’s usage costs are not deducted from collateral, borrowers can preserve the full value of their cryptocurrency upon repaying the loans.

INLOCK enables cryptocurrency holders to manage short-term liquidity problems by taking a loan in fiat and using their existing cryptocurrencies as collateral. When posting a lending request, lenders can offer loans with varied terms, and interest rates are kept low due to market competition among lenders.

After successfully raising $ 2.5M in a private presale earlier this year, INLOCK launched its ICO on September 15. and successfully raised $ 700k in the first 24h. You can participate by visiting its homepage.

About INLOCK
INLOCK is a blockchain and smart-contract based platform that enables cryptocurrency holders to manage short-term liquidity problems by taking a loan in fiat and using their existing cryptocurrencies as collateral.

Media Contact
Clarity PR
inlock@clarity.pr
646.934.6924

Supporting Link
https://loan.inlock.io/

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: INLOCK Signs MoU with Institutional Lending Provider – Partners with Major CEE Crypto ATM Manufacturer to Test Its Platform appeared first on Bitcoin News.

Bitcoin News

Test Driving the Money Button — Simple Enough for a 9-Year Old

September 15, 2018 |

Test Driving the Money Button — Simple Enough for a 9-Year Old

On September 13 the Money Button launched, allowing people the ability to integrate a Bitcoin Cash-powered payment button into any website or application. This week we tested the Money Button’s user interface with a website to see how easy it is to add a digital currency payment button.     

Also read: Ledger Nano S Review: Can This $ 65 Device Top Trezor?

Taking the Money Button for a Test Spin

Last week news.Bitcoin.com showed a preview of the Money Button after the application’s creator, Ryan X Charles, published a video on the subject. Since then on September 13, the first version of the platform has launched and we decided to give the application a test spin to see how it worked. Furthermore, my 9-year old son Joshua, who is very familiar with bitcoin and who has reviewed platforms and devices with me before, helped me with the review. We’ve reviewed the Ledger Nano S together and we also used to upload his artwork to the website Blockpress. Joshua is currently in the process of creating his own website on Wix using the site’s web builder and we decided to test the Money Button on his build.

Test Driving the Money Button — Simple Enough for a 9-Year Old
A Money Button can be created without registering.

The first thing we did was register with Money Button to set up a wallet. You don’t have to register to set up a button, as you can add a third party BCH wallet or add the user number of another Money Button wallet. After registering, the platform creates a seed and asks you if you want to back up the mnemonic. Users can also skip the back up right away (not recommended) and write down the mnemonic at a later date. After that you can load a wallet with funds and you can use this money to tip other websites on the web that have a Money Button deployed. But we decided to create a Money Button to see how simple it was for Joshua to add it to his website, which is unpublished at the moment, but we used the button in the preview.

Test Driving the Money Button — Simple Enough for a 9-Year Old
Joshua customizes his Money Button called ‘Joshua’s Tip Jar’ before adding it to his website build.

So Joshua went to the ‘create your own Money Button for free’ page on the website. From there you can customize the payment button with a variety of options such as making a tip button or a paywall button. We decide to make a ‘tip’ button and tether it to the Money Button wallet we just created.

Test Driving the Money Button — Simple Enough for a 9-Year Old
The Money Button configuration page.

Users can then choose the Money Button’s label which allows for 20 characters inside the button describing the amount you can tip, a label or a customized label and amount. For our button, we named it ‘Joshua’s Tip Jar’ and created a tip button for $ 10 USD worth of BCH that will be sent to our Money Button wallet. Users can set the button to any amount of money and in a wide variety of digital and fiat currencies. You can also choose to tether the button to another wallet address.

Test Driving the Money Button — Simple Enough for a 9-Year Old
Joshua simply added the code to the HTML i-frame editor on his website builder. Of course, people who are fluent with HTML code can add it directly to their website’s back end.

After selecting everything you want, to the right, you can see a preview of the button and even slide it to test out how it works on the Money Button website. Under that preview, there is some code that can be added to any website, and the firm says a WordPress plugin is on the way. Joshua went to his Wix web builder and easily pasted the code into the i-frame box and then positioned the button where he wanted it placed. After that, Joshua previewed his website (what it would look like if it was live on the web) to see how his Money Button looked and worked. We were both pleased to see the ‘Joshua’s Tip Jar’ button and it operated just like it did on the platform when we created the code.

Test Driving the Money Button — Simple Enough for a 9-Year Old
Joshua is pleased with the finished product and placement looking at the website in the preview.

Overall the experience was pretty straightforward and for people who know the basics of using a bitcoin cash wallet will grasp the Money Button application with ease. Joshua liked the idea that people could tip him when he added his artwork to his website in the future. And we both thought the button could offer a lot of incentive for content creators on the web if the application catches on and gains popularity going forward.

What do you think about the Money Button platform? Let us know what you think about this subject in the comment section below.


Images via Shutterstock, Money Button, and Jamie Redman. 


Need to calculate your bitcoin holdings? Check our tools section.

The post Test Driving the Money Button — Simple Enough for a 9-Year Old appeared first on Bitcoin News.

Bitcoin News

Bitcoin Cash Hard Fork Debate Reconvenes After the Stress Test

September 11, 2018 |

Bitcoin Cash Hard Fork Debate Reconvenes After the Stress Test

Over the last few weeks, there’s been a heated discussion within the Bitcoin Cash (BCH) community concerning the scheduled November 15 hard fork. There’s a strong disagreement between the BCH development teams, Bitcoin ABC, Nchain, and Bitcoin Unlimited in regard to the hard fork’s upcoming consensus changes. Fast forward to this week as Nchain has published the Bitcoin SV beta release, Coingeek’s Calvin Ayre speaks out against chain splitting rumors, and there have also been a few insightful studies done on Bitcoin ABC’s proposed canonical transaction ordering (CTOR) upgrade.

Also read: Korean Banks to Limit Services for Crypto Traders Without Real-Name Verification

Nchain Launches Bitcoin SV Beta Version

Bitcoin Cash Hard Fork Debate Reconvenes After the Stress TestLast week’s BCH Stress Test Day took everyone’s minds off of the ongoing upgrade debate taking place within the Bitcoin Cash community. It all started during the last week of July when Bitcoin ABC revealed the team’s roadmap and published the 0.18 ABC codebase in the second week of August. Nchain’s chief scientist Craig Wright was one of the first to oppose the upgrades proposed by the ABC team. Wright explained he was vehemently against adding the opcode called OP_CHECKDATASIG (CDS), and the implementation of canonical transaction ordering (CTOR). Wright detailed his team Nchain would create their own BCH full node client that would entail completely different upgrades within the codebase. Nchain disclosed the new client would be called Bitcoin SV (Satoshi’s Vision) and the full node client will restore the Satoshi opcodes OP_MUL, OP_LSHIFT, OP_RSHIFT, OP_INVERT, remove the 201 opcode script limit, and increase the base block size to 128MB.

Bitcoin Cash Hard Fork Debate Reconvenes After the Stress TestAbout a week and a half ago BCH miners, developers, and industry leaders met in Bangkok to try and hash out the differences, but the meeting didn’t pay off with any compromise between the disagreeing camps. At the time Nchain also launched the Bitcoin SV alpha release and revealed a new mining pool dedicated to the SV codebase. Now, this week Nchain has released the Bitcoin SV beta version on Github. Observers have noted that there was some newly added code related to the 128M increase, some revised release documentation, and some other minor changes.                 

Coingeek & Calvin Ayre: We Will Fight Any Attempts by Anyone That Cause a Chain Split

Bitcoin Cash Hard Fork Debate Reconvenes After the Stress Test
Coingeek’s Calvin Ayre.

On Monday, September 10 Calvin Ayre, owner of the blockchain firm and mining pool Coingeek, explained in a recent post that his company will not allow a hash war to split the BCH chain. Ayre emphasizes that his firm has never had the intention of splitting the true version of Bitcoin (BCH).   

“We will fight any attempts by anyone else to cause a chain split,” Ayre details. “Coingeek and friends believe in the Satoshi Vision for the evolution of Bitcoin and that means all disputes should be settled by Nakamoto consensus and miner hash elections.”

Nakamoto consensus dictates that at all times the longest chain (with the most Proof-of-Work) shall prevail and this will be respected at all times by Coingeek media and mining.

Ayre believes other “contentious, untested and unnecessary protocol changes” have recently been introduced to the BCH community, placing a lot of blame on the Chinese mining firm Bitmain Technologies. The Coingeek owner says Bitmain seeks “to constantly experiment with the protocol creating constant instability and driving corporate investment away.” Bitmain has denied all of the Wormhole security issues and CTOR allegations in a recent blog post addressing these accusations. Ayre says he and Coingeek are quite confident that in the end, smart miners will not follow a path towards their own annihilation.

Coingeek is confident that no miners are stupid enough to support a path that leads to their own destruction so we are also confident that this election will be won by the miners and will prove the wisdom of Satoshi Vision.

Some Examinations of CTOR

Lastly, there’s been a lot of insightful studies concerning the CTOR upgrade proposed for November. A post on r/btc gives a comprehensive technical dive into the implementation of canonical transaction ordering. Many developers such as Andrew Stone, Peter Rizun, and Amaury Sechet discussed the topic within the post’s comment section.

According to the study, CTOR could theoretically benefit ideas like Graphene and possibly help with the mempool bottleneck. The author of the post explains, “In the last stress test, we also saw limitations on mempool performance (tx acceptance and relaying). I hope both of these fronts see optimizations before the next stress test, so that a fresh set of bottlenecks can be revealed.” 

Bitcoin Cash Hard Fork Debate Reconvenes After the Stress Test
Many people including BU’s lead developer Andrew Stone, and the mining pool Rawpool have released studies on CTOR this week. Bitcoin ABC published the “Benefits of Canonical Transaction Order” on August 17.

Further, the BCH mining pool Rawpool has also published a review of CTOR this week. Rawpool’s study is insightful and details that the mining pool has been testing the new upgrade. Essentially Rawpool details that the current method the Bitcoin protocol uses right now is topical transaction ordering (TTOR). However, the study says that in time it “cannot be denied” that “traditional TTOR sorting will inevitably face problems such as rising memory overhead and increasing computing time.”      

“On the other hand, the fully optimized CTOR ordering should be a completely new data maintenance system, which is bound to have considerable complexity,” Rawpool’s translated research explains.

Rawpool will continue to communicate with the development teams of Bitcoin ABC and Nchain. The deployment of test nodes has been completed and will actively participate in the testing of new upgrades and stress testing throughout the network.

For Now, the BCH November Upgrade Debate Still Remains Unsettled

There’s been a lot of discussions and debates regarding the November 15th BCH upgrade. Bitcoin Unlimited’s lead developer has also critiqued canonical ordering in a post that declares “ABC’s CTOR will not scale.” Stone says that there are two significant problems with CTOR and he explains the sharding proposal (scaling by distributing data to multiple machines) “will not work,” and “lexicographical transaction ordering is unnecessary.” Moreover, Nchain’s Craig Wright has been writing a lot of long-form posts about this subject and generalized Bitcoin topics concerning the technology’s economics nearly every single day.

For now, it seems the debate will continue, and Bitcoin Cash proponents will have to wait to find out what will happen when it gets closer to the upgrade. News.Bitcoin.com will be sure to keep our readers informed every step of the way. 

What do you think about the BCH November upgrade debate? Do you think the disagreeing parties will come to a compromise? Let us know in the comment section below.   


Images via Shutterstock, Twitter, Coingeek, and Pixabay. 


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH, and other coins, on our market charts at Satoshi Pulse, another original and free service from Bitcoin.com.

The post Bitcoin Cash Hard Fork Debate Reconvenes After the Stress Test appeared first on Bitcoin News.

Bitcoin News

Bitcoin Cash Stress Test Goes Beyond 24-Hours Setting New Records

September 5, 2018 |

Bitcoin Cash Stress Test Goes Beyond 24-Hours Setting New Records

On September 1, Bitcoin Cash proponents led a community-driven stress test by sending millions of transactions in one day. In fact, the protocol’s miners processed 2.2 million transactions in 24-hours and processed massive sized blocks all day long. But the stress testing fun didn’t end there as many BCH supporters continued to flood the network with transactions. The next day saw upwards of 1.37M transactions, and September 4 data has shown participants still were going strong with 1.67M processed yesterday.

Also read: 160 Crypto Exchanges Seek to Enter Japanese Market, Regulator Reveals

The BCH Stress Test Went Well Over 24-Hours

The Bitcoin Cash (BCH) blockchain and network participants have celebrated a milestone this September as the peak of the BCH Stress Test Day saw 2.2M transactions processed on the first of the month. Moreover, BCH miners like Coingeek, Waterhole, BMG Pool, Viabtc and others processed many large blocks on September 1st between 4-15MB in size. Alongside this, transactions (tx) processed on the network reached about 23 tx/second for most of the day. However, even though the day was scheduled for only 24-hours, BCH stress test participants continued to send millions of transactions.

Bitcoin Cash Stress Test Goes Beyond 24-Hours Setting New Records
BCH transactions per day on September 1 touched 2.2M, on the second day of the month 1.3M tx per day, the third 450K tx per day, and on the fourth 1.6M transactions in one day.

The following day on September 2nd the network processed another massive 1.37M, but on the 3rd the network only processed 448,000. Now one would think after the lull things were over for BCH stress testers but they weren’t because, on Tuesday, September 4 the Bitcoin Cash network had touched 1.6 million transactions.

Bitcoin Cash Stress Test Goes Beyond 24-Hours Setting New Records
September 4, 2018, BTC and BCH confirmed transactions (24h averages) via Fork.lol

What’s even more interesting is the fact that BCH fees had the lowest median average in months. Back in June, it cost roughly $ 0.003 (one-third of a US penny) per transaction, which is still low, but during the stress test with millions of transaction, the network fees were about 0.001 per tx.

Bitcoin Cash Stress Test Goes Beyond 24-Hours Setting New Records

The 23MB Block

In addition to the lower than usual fees on September 4, block 546423 processed by BMG pool was a whopping 23.15 MB Bitcoin Cash Block that processed a record 97,318 transactions in one fell swoop. Now, this was a unique block indeed and many observers took notice of how this block propagated. The developer Jochen Hoenicke, otherwise known as ‘Johoe,’ detailed that there seemed to be a limit that he had noticed.

Bitcoin Cash Stress Test Goes Beyond 24-Hours Setting New Records

“It took 85 minutes to find this block and the mempool was continuously growing at a rate that seems to be close to the limit nodes can accept transactions,” Johoe details on the subreddit r/btc. Another Redditor asks, “Is this a hardware or software problem?”

The Bitcoin miner and developer Jonathan Toomim explains, “Mostly software, but it will affect nodes that have low-GHz CPUs before it affects high-GHz CPUs.” Toomim emphasizes.   

The typical variation we see in different machines in single-threaded performance is not that large, maybe 3x, and sometimes the most expensive CPUs are 16-core monstrosities that only get 2.4 GHz per core, which will perform a lot worse than a 2-core 3.8 GHz Core i3.

There’s still a lot of fine tuning that can be done, and these stress tests are giving BCH developers the chance to witness and record data concerning what happens when the network is pushed to certain limits. For a few days, the experimentation took people minds off of the fork debate and this kind of testing gave a glimpse of what the network can do on-chain. Overall BCH proponents enjoyed the stress test and remain confident that Bitcoin Cash can scale.

What do you think about the stress test results? Let us know what you think about this subject in the comment section below.


Images via Shutterstock, Twitter, and Disqus. 


At news.Bitcoin.com all comments containing links are automatically held up for moderation in the Disqus system. That means an editor has to take a look at the comment to approve it. This is due to the many, repetitive, spam and scam links people post under our articles. We do not censor any comment content based on politics or personal opinions. So, please be patient. Your comment will be published.

The post Bitcoin Cash Stress Test Goes Beyond 24-Hours Setting New Records appeared first on Bitcoin News.

Bitcoin News

Test Tube Brains Make for Ethical Dilemma

September 4, 2018 |

Rapidly evolving technology now allows scientists to create bits of tissue that are extremely similar to the kind that make up parts of the human brain. Per the Washington Post , these developments are a boon for researchers, but they’ve forced scientists to ask themselves basic ethical questions about what makes…
Newser

Retailers Looking to Test Run Stores See Opportunity in Short-Term Leases

September 2, 2018 |

The number of short-term leases signed in Manhattan has grown dramatically since 2016 and is showing little signs of abating as retailers flex their muscles in a tenants’ market and favor nimble strategies when it comes to their brick-and-mortar stores.
WSJ.com: US Business

Stress Test & Big Blocks: BCH Network Confirms 2M Transactions in 24-Hours

September 2, 2018 |

Stress Test & Big Blocks: BCH Network Confirms 2M Transactions in 24-Hours

On September 1, 2018, the Bitcoin Cash (BCH) network was put to the test as BCH proponents flooded the mempool with millions of transactions over the last day. According to statistics during the last 24-hours, BCH miners have processed over 2 million transactions so far and the Stress Test Day is still not over.

Also Read: August 2018 Volume Rankings Report: ETC and Dash Top Ten

Close to 2M Transactions Processed So Far

The Bitcoin Cash chain is chugging along processing millions of transactions on September 1, 2018. Over the last day with 2M transactions (tx) processed so far, BCH has outpaced the Ripple (XRP 1.7M tx/day) and Ethereum (ETH 1.2M tx/day) network’s 24-hour tx record. Right now statistics stemming from the data website Fork.lol show that the BCH chain has processed 2,060,041 transactions over the last 24-hours. Statistics also show that the BCH chain has processed 85,835 tx per hour, and 23.8 tx per second.

Stress Test & Big Blocks: BCH Network Confirms 2M Transactions in 24-Hours

Of course, Bitcoin Cash proponents are celebrating the momentous occasion and participating by using tools like scale.cash. There have been a ton of celebration parties all over the world with people monitoring and participating in the BCH stress test while sipping on their favorite beers.

Stress Test & Big Blocks: BCH Network Confirms 2M Transactions in 24-Hours
The average number of transactions per block according to Fork.lol. Orange (BTC), Blue (BCH). 

The community has been fixated on websites Txhighway.com, Txstreet.com, and Bitcoinsubway.cash watching all the transactions confirm with some added old school 8-bit style. There have been lots of pictures shared online of these fun websites and other data sites like Blockchair, Coindance Cash, Fork.lol, and Johoe’s Bitcoin Cash mempool statistics. The reason for the abundance of screenshot shares is because the BCH chain has been breaking numerous records all day.

Stress Test & Big Blocks: BCH Network Confirms 2M Transactions in 24-Hours
Lots of people sharing images of Txhighway.com on September 1. 

Big Blocks

One example of shattering records comes from the enormous blocks processed on September 1 by BCH miners. Miners for the first time ever surpassed the highest mined block size, which was previously 8MB. On the day of the stress test, there were plenty of 4-8MB blocks but also 9, 10, 13.5,14 and even the largest at 15.2MB in size. Mining operations such as Viabtc, BTC.top, Coingeek, BMG Pool, Waterhole, Bitcoin.com, and others processed block sizes much larger than 8MB.

Stress Test & Big Blocks: BCH Network Confirms 2M Transactions in 24-Hours

Even though the day was an experiment, 23 transactions per second is considerably larger than BTC’s 3 transactions per second and many of the other blockchain networks. Further, instead of people getting upset about tons of microtransactions and calling it a ‘spam attack,’ BCH stress day participants have relentlessly processed thousands a day, and miners processing big blocks had cleared the mempool (transaction queue) effortlessly.

Stress Test & Big Blocks: BCH Network Confirms 2M Transactions in 24-Hours
Memo.cash got a lot of use this Saturday.

In addition to this, the Bitcoin Cash network fees remained low the entire time, unlike what took place this past December on the BTC network. BCH median fees today were $ 0.001 per transaction and were actually lower than usual. Overall the day was successful to most BCH supporters as, even though it was just a test, it showed just how well big blocks could process transactions.

What did you think about the stress test on September 1? Did you participate? Let us know your thoughts on this subject in the comment section below.


Images via Shutterstock, Fork.lol, Twitter, and Pixabay. 


At news.Bitcoin.com all comments containing links are automatically held up for moderation in the Disqus system. That means an editor has to take a look at the comment to approve it. This is due to the many, repetitive, spam and scam links people post under our articles. We do not censor any comment content based on politics or personal opinions. So, please be patient. Your comment will be published.

The post Stress Test & Big Blocks: BCH Network Confirms 2M Transactions in 24-Hours appeared first on Bitcoin News.

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