| | NOVEMBER 28th, 2016
“The greatest challenge to any thinker is stating the problem in a way that will allow a solution.” – Bertrand Russell
|
Could we be close to bitcoin scalability, or will politics once again get in the way?
The SegWit update has been released, and so far 20% of bitcoin’s hashing power has signalled support. If implemented (which will happen at the 95% threshold), it will increase the capacity of bitcoin blocks without increasing their size.
In interviews with CoinDesk, several bitcoin startups expressed enthusiasm for the update, and most sector participants recognize the need for bigger blocks. The positive statements are muted, however, and many are reluctant to comment at all.
If SegWit is what some call one of the “largest ever” changes to the bitcoin code, why are we not hearing more excitement?
It seems that a reluctance to get involved in politics is holding it back.
Could this affect SegWit’s prospects? Is the political environment becoming a barrier to innovation? Or will its caution end up exercising a steadying hand? (Read the full story.)
Wait, there's more:
· Good timing. Unocoin has released a mobile wallet app, reflecting India’s embrace of mobile devices. The app could benefit from the reported increase in interest in bitcoin after the recent withdrawal from circulation of high value rupee notes. Read more.
· Positive take. The recent exits of major banks from R3 should not be taken as cause for concern. They are a sign that some participants are outgrowing the consortium’s scope, and that blockchain is becoming even more strategic to their business models. Furthermore, consortia can be useful, but in for-profit sectors they are generally at best transitions. Read more.
· Not on board. A leaked document has revealed that seven of R3’s 42 original banking members have opted out of the $150m financing round, including JP Morgan, Macquarie Group and US Bancorp. The remaining 35 have expressed an interest, although it remains to be seen whether R3 will stick to the original funding target. Read more.
· Opinion piece. ICO advocates say the model represents an alternative to traditional financing methods for blockchain startups. Since the regulatory and financial aspects are very different, investors need to re-think their evaluation criteria. Read more.
· Central bank interest. Could Argentina’s central bank be warming up to bitcoin? Recent comments from bank representatives point to increasing awareness of the technology and the need for innovation. Read more.
· Mining innovation. The US Patent and Trademark Office has published a patent application from 21 Inc., filed in May 2015, for specialized bitcoin mining circuitry. If granted, this could step up competition in the mining sector. Read more.
· New kid on the block. We take you through the mining, markets and mechanics of Zcash. Its technology is a step forward in achieving fungibility, but security issues are still raising doubts. Read more.
BTC: $732.13 +0.5%
ETH: $8.83 -3.8% at 10:00am EST more details
| | | | | |
0 Comments