Ethereum creator Vitalik Buterin has issued new details on his vision for proof-of-stake, ethereum’s coming consensus change.
CoinDesk
The Code for Ethereum’s Consensus Change Is Now Ready for Review
The ethereum network’s transition to proof-of-stake is getting closer to reality, beginning with a hybrid system that could soon begin testing.
CoinDesk
KPN Shows Support for NEO by Hosting a Consensus Node in Their Data Center
No one can deny cryptocurrency is about much more than just Bitcoin. That is a positive development, as Bitcoin is not perfect. Nor does it have all of the answers to our problems either. It is a good currency at times, but right now, it’s not in the best of shapes. As a result, mainstream companies are slowly showing an interest in other currencies. KPN, for example, has decided to host a dedicated NEO consensus node in their data center. An interesting decision by the Dutch telco.
There is an interesting future ahead for all currencies that are not Bitcoin. Especially those which offer something entirely different from established currencies. NEO is similar to Ethereum in some ways, yet completely different in other aspects. So far, this altcoin has seen great success throughout 2017. It seems that powerful trend will continue into early 2018. Especially when they have some big announcements to make in the coming months.
KPN Sees Merit in NEO and the Smart Economy
One of those announcements has to do with KPN. Most people know this company because it’s one of the largest Dutch telecommunications companies to date. Surprisingly, KPN decided to hop on the NEO bandwagon. More specifically, the company will host an NEO consensus node within their data center. That in itself is a rather surprising development. Then again, the giant has shown an interest in NEO and the smart economy before. It seems they are only now putting their plans into action, which can have some interesting consequences.
"KPN joins the smart economy by hosting a $NEO consensus node, exclusively within our data center here in the Netherlands"
KPN is a telecommunications company based in the Netherlands with a market capitalization of billion https://t.co/XQYYHQZzW2
— NEO Ecosystem (@stateofneo) January 13, 2018
One could argue this news has no major impact. At the same time, the telco giant purposefully chose this altcoin over all other cryptocurrencies on the market. They are seemingly not interested in Bitcoin, Ethereum, Litecoin or XR. Instead, they want to support NEO and become a part of the smart economy. It is an interesting development which will have major consequences. What those consequences might be, is anybody’s guess right now. It is a massive notch in the belt for NEO, though.
For now, it doesn’t seem as if this should aspect the NEO price all that much. Having KPN on board is significant, but ultimately just a first step. We do know the project wants to further decentralize their consensus node mechanism. This may very well be a big step toward achieving that goal in the future. At the same time, we might see other technology companies show a big interest in other cryptocurrency nodes or similar systems. Only time will tell what the future holds. For now, things are looking good for NEO, but this is not an earth-shattering development either.
Header image courtesy of Shutterstock
The post KPN Shows Support for NEO by Hosting a Consensus Node in Their Data Center appeared first on NewsBTC.
Early Bitcoin Buyers Talk Bubbles and Origin Stories at Consensus: Invest
Early buyers Glenn Hutchins and Mike Novogratz took the stage at CoinDesk’s Consensus: Invest event today.
CoinDesk
NO2X: Hard Fork “Suspended” Due to Lack of Consensus
The post NO2X: Hard Fork “Suspended” Due to Lack of Consensus appeared first on Bitcoin Magazine.
NO2X Hard Fork Suspended Due to Lack of Consensus
The post NO2X Hard Fork Suspended Due to Lack of Consensus appeared first on Bitcoin Magazine.
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NO2X Next Weeks Hard Fork Has Been Suspended Due to a Lack of Consensus
There will almost certainly be no Bitcoin hard fork next week the main organizers behind the SegWit2x project have suspended their efforts.In an email to the SegWit2x mailing list, one of the main organizers behind the project, BitGo CEO Mike Belshe, explained that the proposed hard fork has not been able to gain sufficient consensus to proceedAlthough we strongly believe in the need for a larger blocksize, there is something we believe is even more important keeping the community together. U
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NO2X: Next Week’s Hard Fork Has Been “Suspended” Due to a Lack of Consensus
There will almost certainly be no Bitcoin hard fork next week: the main organizers behind the SegWit2x project have “suspended” their efforts.
In an email to the SegWit2x mailing list, one of the main organizers behind the project, BitGo CEO Mike Belshe, explained that the proposed hard fork has not been able to gain sufficient consensus to proceed:
“Although we strongly believe in the need for a larger blocksize, there is something we believe is even more important: keeping the community together. Unfortunately, it is clear that we have not built sufficient consensus for a clean blocksize upgrade at this time.”
The New York Agreement was originally forged between a group of Bitcoin companies in May of this year. An initiative by Digital Currency Group CEO Barry Silbert, the project – later dubbed “SegWit2x” – was to combine activation of the Segregated Witness soft fork with a hard fork to double Bitcoin’s block weight limit. With Segregated Witness activated on the Bitcoin network this past summer, arguably helped by the SegWit2x project, the hard fork was scheduled to take place next week.
However, the hard fork part of the New York Agreement was always controversial for a number of reasons. As a result, a growing number of signatories dropped out of the agreement over the past weeks and months, while developers, user communities, public polls, future markets and more all indicated limited support for the effort. And as the hard fork date drew closer, it become increasingly clear that SegWit2x would in fact spawn a new currency rather than constitute an upgrade of the Bitcoin protocol.
And this was never the plan, Belshe wrote:
“Continuing on the current path could divide the community and be a setback to Bitcoin’s growth. This was never the goal of Segwit2x.”
Belshe’s email was also signed on behalf of Xapo CEO Wences Casares, Bitmain CEO Jihan Wu, Bloq CEO Jeff Garzik, Blockchain CEO Peter Smith and ShapeShift CEO Erik Voorhees. In a separate blog post published just before Belshe’s email, BitPay CEO Stephen Pair also called for cancelation of the hard fork.
While the New York Agreement was signed by even more companies (and some individuals), and anyone can still deploy the hard fork, it is unlikely that anyone will proceed with the hard fork in any meaningful way.
Belshe does, however, note that a hard fork to increase Bitcoin’s block weight limit might be needed in the future, writing:
“As fees rise on the blockchain, we believe it will eventually become obvious that on-chain capacity increases are necessary. When that happens, we hope the community will come together and find a solution, possibly with a blocksize increase.”
The post NO2X: Next Week’s Hard Fork Has Been “Suspended” Due to a Lack of Consensus appeared first on Bitcoin Magazine.
2x Called Off: Bitcoin Hard Fork Suspended for Lack of Consensus
The organizers of a controversial bitcoin software update are suspending their attempt to increase the block size by way of a hard fork. Known for its strong early support from bitcoin startups and mining pools, the plan, called Segwit2x, or simply ‘2x,’ was to trigger a block size increase at block 494,784, expected to occur […]
CoinDesk
We Are All Part of Consensus Bitcoin Communities in Brazil and Argentina Condemn SegWit2x
&8230nThe post We Are All Part of Consensus Bitcoin Communities in Brazil and Argentina Condemn SegWit2x appeared first on CryptoCoinsNews.n
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