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Showing posts with the label block

Bitcoin or Bitcoin Cash? Vitalik Buterin delves into the blocksize war

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The blocksize war, a contentious debate within the Bitcoin (BTC) community, led to a chain split in 2017 and remains relevant seven years later. In particular, the dispute centered around whether to increase the block size limit from 1 MB to accommodate more transactions. This split resulted in the creation of Bitcoin Cash (BCH), a separate cryptocurrency with a larger block size. In a recent blog post, Vitalik Buterin, the creator of Ethereum (ETH), shared his reflections on the blocksize war. Buterin, who recently finished reading two books presenting opposing perspectives on the conflict, offered his unique insights into the debate. Notably, the two books, “The Blocksize War” by Jonathan Bier and “Hijacking Bitcoin” by Roger Ver and Steve Patterson, provide contrasting narratives. Bier’s book presents the pro-small-block perspective, while Ver and Patterson’s work advocates for the pro-big-block side. ...

Bitcoin network hits block 800,000 milestone, here’s why it matters

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Bitcoin’s (BTC) historic achievement of mining block 800,000 marks a pivotal moment in the leading cryptocurrency’s journey. This milestone signifies that Satoshi Nakamoto’s Bitcoin has completed 867 million successful transactions since its first block as the network gets closer to its fourth halving event.  Bitcoin standing the test of time  Bitcoin (BTC), the pioneering digital currency, has surpassed a significant milestone by mining the 800,000th block . Block 800,000 signifies 867 million confirmed transactions, averaging 1,084 transactions per block , all securely stored within a compact 497 GB block chain.  You might also like: Bitcoin network activity hits a 2-year high due to NFT activity Bitcoin halving and predictions by experts The mining of block 800,000 has brought attention to Bitcoin’s upcoming fourth halving event. The halving process gradually reduces the rate at which new BTCs are issued, further fueling Bitcoin’s scarcity and dist...

Universities use blockchain-based storage to protect and democratize data

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Decentralized solutions can make academic research more secure and more accessible. Academic institutions house some of the world’s most important data generated from years of research. Yet centralized data storage models are becoming a concern for many universities looking to keep critical information safe and accessible.  Danny O’Brien, a senior fellow at the Filecoin Foundation and Filecoin Foundation for the Decentralized Web (FFDW) — an independent organization that facilitates governance of the Filecoin network and funds development projects — told Cointelegraph that data stored by academic institutions is at risk of vanishing due to centralized storage models. To put this in perspective, a recent Filecoin Foundation survey found that 71% of Americans have lost information and records due to challenges like deleted hyperlinks or locked online accounts. Decentralized storage helps secure and distribute data To combat this, O’Brien explained that a handful of educational institu...