PRESS RELEASE. Date: 18th June, 2024 Time: 13:00 UTC Location: Online Bitcoin BuildCon by Fibration Network is back with a new entry. This time, the event is focused on bringing together the fragmented Bitcoin community, connecting key BTC players in the US and Asia, and finding out what the industry needs today. Bitcoin BuildCon is […]
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SEC Chair Gary Gensler Calls Crypto ‘Outsized Piece of Scams, Frauds, and Problems in Our Markets’
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has reiterated his view that crypto is a field full of noncompliance. While noting that crypto is a small piece of the overall U.S. financial market that his agency oversees, the SEC chair emphasized that it is “an outsized piece of the scams […]
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Analyst Predicts Solana (SOL) Bounce Amid Network Congestion Problems
Solana (SOL) faced difficulties the past week after the network’s transaction failure rate reached over 75%. Since then, Solana’s core contributors have been working to find the congestion problems.
SOL’s price tumbled 7.8%, and users seemed worried about the network’s state. Despite this, some analysts predict a more optimistic performance for SOL soon.
Is Solana Poised For A Bounce?
According to crypto analyst Bluntz, Solana’s drop has reached its bottom. When the news of network congestion broke, the analyst predicted that SOL’s price would likely fall to 0 before seeing a bounce.
According to his chart, the performance was starting to show an ABC zig-zag pattern. At the time, the token was trading around the 4 price range, which meant that the C wave of 0 had yet to be confirmed.
The analyst remained open to the “possibility of a sideways correction.” Nonetheless, he considered it “would make no sense for sol/usd to sweep down lower below 160.”
On Wednesday, SOL reached a low of 2, sweeping the “A wave low.” To the analyst, this seems to be the bottom for SOL’s price despite being short of his prediction. As a result, Bluntz considers that the token’s price will go “higher from here.”
Another analyst, Immortal Crypto, pointed out that SOL has shown a “good range” between 0 and 0. According to the analyst, “a deviation from here is a fat long, 100%.”
Despite the possible bounce forecast, analyst Altcoin Sherpa expects SOL to drop to 0, a level it has not seen in almost a month.
Will The Network Upgrade Help SOL?
In the last 24 hours, Solana’s price has risen 6%, recovering from the drop to the 2 range. Despite a 7.8% drop in the past week, the price surged 13.5% in the last 30 days.
Similarly, the daily trading volume increased by 28% in the past 24 hours, suggesting a surge in the token’s market activity.
Nonetheless, investors remain concerned about the network as the problems continue, with some suggesting that the token’s price won’t start pumping until the “tech is sorted out.”
Solana is widely recognized for its fast transactions and low fees. However, the current on-chain failure rate presents problems for both users and developers.
Responding to the critics and concerns, Austin Federa, Head of Strategy at the Solana Foundation, gave insights into the problem.
Developers from Anza, Firedancer, Jito, and other core contributors are working diligently (and not sleeping much) to shore up Solana's networking stack to meet the unprecedented demand the network is seeing today.
There's been a lot of threads on what exactly is causing the…
— Austin Federa |
(@Austin_Federa) April 10, 2024
According to Federa, developers from the core contributors to the Solana chain are “working diligently to shore up Solana’s networking stack to meet the unprecedented demand the network is seeing today.”
The developer explained that “the implementation of a software system is today not robust enough to handle the amount of traffic being thrown at it.” As a result, the core protocol developers are working to test and implement improvements, leaving “increasing fees as a last resort.”
At the time of this writing, SOL is trading at 4.57.
Binance Buying Bank Not Solution for Banking Problems, Says CEO Changpeng Zhao
Acquiring a bank wouldn’t solve the issues with banking for Binance or others, the CEO of the largest crypto exchange is convinced. Speaking in the aftermath of the collapse of crypto-friendly banks in the U.S. and amid Binance’s issues with payment providers in Australia, Changpeng Zhao said investments in several banks might be a better option although not a guarantee that crypto won’t be cut off.
Binance Founder CZ Responds to Call to Buy a Bank, Says He Doesn’t Like Running Businesses With Debt
Binance has looked into the potential acquisition of a traditional bank but found that’s not an ultimate solution to its own and the crypto industry’s issues with banking. Changpeng Zhao (CZ), the exchange’s founder and chief executive, commented on the matter on the Bankless podcast this week.
“You buy one bank, it only works in one country, and you still have to deal with the bank regulators of that country,” the crypto entrepreneur said, answering a question from Twitter user @DegenSpartan, who asked him: “Can you please, buy a bank and make it crypto-friendly?”
“It doesn’t mean you buy a bank and you can do whatever you want to do. If the banking regulators say ‘You can’t work with crypto,’ they are going to take your license away if you do. So buying a bank doesn’t prevent the regulators telling you ‘No, you can’t touch crypto’,” he elaborated.
CZ’s statements come after the collapses of crypto-friendly institutions Silicon Valley Bank, Signature Bank, and Silvergate in the U.S. earlier this year. They also coincide with Binance’s latest problems with Australian payment service providers deciding to quit processing deposits and withdrawals in local currency for its customers.
Changpeng Zhao also pointed out that as banks operate in one jurisdiction, they still need corresponding banks to work globally, all of which are in the United States. They “will tell your bank ‘Look, if you touch crypto, we are not facilitating your international transactions’,” he explained.
“And then you have to get banking in every country, basically. And banks are not cheap. Banks are very expensive — for very little business, very little revenue … So it’s not just like because you have money, you can buy a whole lot of banks,” the crypto executive said.
CZ further highlighted that many banks don’t have very sound business models and are very risky businesses. “They take customer money, they loan it out. If they don’t get it back, they declare bankruptcy,” he elaborated. While recognizing that many governments would save troubled banks, he emphasized:
I don’t like to run those kinds of businesses. I like to run businesses with no debt.
The CEO of Binance suggested that his company may make small investments in a few banks, instead of buying one, with the hope that they become more crypto-friendly when they have the exchange as a minority investor. However, he admitted that this “doesn’t guarantee they will never cut crypto off.”
What are your thoughts on the banking problems of the industry? Do you think crypto companies should invest in banks? Tell us in the comments section below.
Ethereum Reserves Of FTX Collapse In The Midst Of Liquidity problems
FTX seems to fall deeper into its despair pit without any anchor. The crypto exchange is facing several issues threatening the stability of the firm. First, there appears to be an ongoing war between FTX and the Binance crypto exchange. This is presumed to involve their respective CEOs, Sam Bankman-Fried (SBF) and Changpeng Zhao (CZ).
Binance announced its plans to liquidate FTT token holdings, which it has carried out. There’s still no explanation for Binance’s sudden lack of interest in the FTT tokens. However, some opine that Binance may consider holding FTT tokens as a liability on its record.
Following Binance’s liquidation of FTT tokens, things are becoming more complicated for FTX. The latter now suffers delays in processing Bitcoin and stablecoins transfers for its clients. The natural outcome of events is reducing users’ confidence in FTX.
FTX is currently witnessing the collapse of its Ethereum (ETH) reserves. According to data provider, CryptoQuant, the exchange has lost almost 300k ETH over the past two days.
At the moment, the Ethereum reserve of FTX is about 108,246.43. This stands as one of the vast drops recorded since November 2020.
FTX Makes Moves To Fix ETH Reserves
Reports on the situation revealed that FTX is making some moves to build up its ETH reserve. The firm is using its subsidiaries and other crypto exchanges. For example, Nansen data disclosed that Alameda, owned by SBF, has transferred 26,600 ETHs to FTX within the past day.
This transfer left Alameda with a balance of 9,325 ETH. Also, Alameda has sent vast amounts of stablecoins to FTX hot wallet using other crypto exchanges.
As per data from PeckShieldAlert, FTX has removed liquidity of 1,985 ETH from Gearbox Protocol. Also, Blockfolio, another SBF company, transferred about 13,555 ETH to FTX.
Currently, the crypto exchange’s node throughput is limited, making it challenging to process Bitcoin withdrawals. Also, users of the FTX platform now complain that transaction delays for 5 to 10 hours before executions.
Additionally, the creation and redemptions of stablecoins from the exchange have slowed. But the exchange blames banks for the slowdown in stablecoins creations and redemptions. It mentioned that wire transfers would clear on Monday once banks have opened.
FTT Tokens Dips By 10%
The CEO of Binance crypto exchange, CZ, announced the firm’s plan to liquidate its FTT holdings. CZ mentioned that the action would commence in the next coming months. This announcement negatively impacted FTT as the token dipped by 10% over the past 24 hours. The coin even hit a low of .32.
However, FTT has started showing signs of recovering due to little volatility in the crypto market. At the press time, FTT is trading at .33.
Featured Image From Pixabay, Charts From Tradingview
NewsBTC
How TG Ecosystem Uses Cooperation to Solve Major Crypto-Market Problems
Several models for the development of nations for the next three to five years were presented by the World Economic Forum, where cooperation was emphasized as the foundation for successful and speedy economic and social recovery. Speaking at the WEF, Børge Brende, a Norwegian politician and member of the Conservative Party, said that “the direction in which we need to head is towards greater dialogue, coordination and collective action”. Even today in the world of global business, we’re seeing hundreds of examples of cooperation gone right, such as the UN Global Compact, C40 Cities, Sustainable Trade Initiative (IDH), World Resources Institute, and many others. How are things in the crypto-world?
The problems that cooperation can solve
Cooperation has been popular around the world for many centuries as a form of getting people to work together to achieve certain goals. Nowadays, cooperative societies are designed to solve modern economic problems, namely:
- eliminating intermediaries, thereby lowering the cost of goods and services;
- speeding up the process of producing goods or certain commodities;
- exchanging experience and information in order to make adequate decisions in politics, education, healthcare, and any other economic sectors;
- accumulating resources (money, time, labor) for effectively implementing projects and achieving goals.
Only up until a few years ago, cooperation was predominantly characteristic of industrial and manufacturing enterprises and companies as well as businesses from the non-financial sector. Today, however, we’re seeing more and more examples of cooperation in online environments and among IT projects. Here are just a few of them.
Blockchain Investors Consortium. The Blockchain Investors Consortium has more than 120 members with more than billion in digital assets under management in the group. The funds raised are used to support global projects aimed at the development and popularization of blockchain technology.
IBM Food Trust. This is an association of several blockchain technology companies at once. The IBM Food Trust consortium includes producers of agricultural products, carriers, as well as consumers such as Walmart and Nestle. Furthermore, businesses can track food products from their suppliers to consumers using their platform.
Today, cooperation can not only accelerate the launch of crypto and blockchain startups but also significantly influence the popularization of blockchain technology in the world.
The true power lies in a number
“Let’s remember what happened on the stock market with Gamestop. Hundreds of thousands of retail investors rushed to buy up the securities of a little-known company, succumbing to the influence of FOMO, which was skillfully created by crowd manipulators. Crowds, after all, are easy to manipulate. As a result, investors lost money after all the excitement had died down. A well-thought-out participant self-organization system turns a crowd into a group, and a decision-making system makes it possible to solve this issue in a centralized way,” says Eugene Melnik, the CEO of TG Ecosystem.
The self-organization of groups and, later on, the cooperation between them will be the solution to spontaneous investments lacking a clear strategy for recovering funds. The TG DAO 3.0 Launchpad, part of the TG Ecosystem, presented an effective solution to reduce the risks associated with investing in cryptocurrency, based on self-organization and cooperation.
“We analyzed the main reasons for the failure of the ICO boom in 2018 and developed our own solution for the startup launch market. It lies in the cooperation of experts, users, and the projects themselves. We achieve our goals much faster when we act together rather than separately,” said Eugene Melnik.
The TG DAO 3.0 Launchpad includes several instruments for effective crowdfunding. These include an accelerator and a platform for IDO, as well as other services that will be launched in 2022. The Launchpad team is also ready to collaborate with not only blockchain startups, but also with venture capital projects that offer innovative solutions for various areas of business.
“Even today, we’re receiving a large number of applications to participate in the accelerator program and conduct IDO. Four projects have been approved by our expert council and will soon be eligible for discussion by community launchpad members. By the end of the year, we plan to review another ten projects and choose the most deserving of them,” Eugene Melnik comments.
Cooperation is crucial when choosing startups to invest in, so the Launchpad team has arranged a voting system where users will decide which startups are allowed to conduct a token sale. This way, investors avoid the problem of recklessly investing their money into sketchy projects.
Cooperation introduces several advantages that can be successfully used in projects.
“First of all, it’s the ability to bring groups of people together and create the appropriate targeted programs for the purpose of investing or conducting joint activities. Secondly, the simplicity of participating within a cooperative, since a participant only needs to submit an application and pay the minimum entrance and share fees. Funds or other proprietary contributions to startups are allocated as early as when the cooperators create the program in question.
Thirdly, the cooperative has the possibility to distribute its income among project participants in proportion to their participation in the cooperative’s business activities. In this case, it is the cooperative members themselves who decide on how the income is to be distributed,” says Natalia Khitruk, lawyer at TG Ecosystem.
In the very near future, TG DAO 3.0 will conduct a Funding Round and a Public Sale of TGDAO tokens. More information about the project can be found on the website.
A Green Solution to Ethereum’s Problems – An Australian Start-up Is Changing the Blockchain Mining Game
In March of 2021, Elon Musk wiped out 0 billion in Bitcoin’s value with a single tweet. In short, his message was that for environmental reasons, Tesla will no longer accept bitcoin as payment. He went further than just a tweet, and in May, Tesla announced it would no longer accept Bitcoin as payment. Elon is not alone, as many have expressed concerns over the amount of energy required to mine Bitcoin and several other leading cryptocurrencies, such as Ethereum, which facilitates 4,000+ DApps on its platform. However, Australian start-up zkTube Labs is here to change the impact mining has on the environment and, in the process, solve some of Ethereum’s congestion and high gas fee problems without compromising security.
Melbourne-based zkTube is ready for its official Mainnet launch on September 10th, and for the crypto mining and overall Blockchain community, their solutions cannot come fast enough.
The initial concept for the zkTube Protocol prototype originated in 2018 when Ethereum founder Vitalik Buterin proposed a mining solution for anti-ASIC (Application-Specific Integrated Circuit). At the time, Lance Zhang, founder of zkTube, had participated in the “Ethereum Scalability and New Ideas Exploration of POS Mining” and came up with the innovative concept of a Layer 2 solution for crypto mining. However, it wasn’t until October 2020 that Zhang and the founding team officially started searching for solutions to Ethereum’s growing congestion and escalating gas fees. Aside from the obvious negative effects of these delays and costs there was an additional, and arguably, more important problem: the impact that mining for Ethereum is having on the environment. This last issue is not negligible as studies, such as the one published by the University of Cambridge in February of 2021, have indicated that mining from cryptocurrencies burns the equivalent electricity needed to power countries the size of Argentina and Norway. For the zkTube Labs team, it was clear that there had to be a better way to mine for cryptocurrencies. The result is their Layer 2 Zero-Knowledge platform and accompanying wallet, PayTube.
In the words of Daniel Puzny, zkTube’s CEO, “zkTube is a world-first Layer 2 mining protocol that adopts Zero-Knowledge proof, which enhances scalability and transaction throughput, lowers gas fees, and improves privacy for Ethereum, all whilst significantly reducing energy consumption”.
While the technology and backend of zkTube might be complicated, the end result is not: zkTube has created a platform that allows users to mine for cryptocurrencies, or perform any of the typical blockchain transactions, for a fraction of the price and at much higher speeds. In fact, zkTube is over 200 times faster than Ethereum. Additionally, the Zero-knowledge technology allows one party (the prover) to confirm to another (the verifier) that something exists or is correct, like a password or an amount, without having to reveal what that something is. The essence of Zero-Knowledge proofs is that it is trivial to prove that one possesses knowledge of certain information by simply revealing it.
Given this technological breakthrough, it is no surprise that zkTube has had no shortage of interest from investors. In April 2021, the project raised .1 million in its seed round. Just two months later, in June, the zkTube team raised an additional million, and in August, another million. Well funded and with their technology optimized, zkTube Mainnet is ready for launch on September 10th, 2021.
“Aside from zkTube’s low-cost, low environmental impact, and high-speed mining solution, the launch of the PayTube wallet is incredibly exciting. The wallet will be first of its kind, and the added layer of discretion achieved using Zero-Knowledge technology, could not be more timely given the all-too-common stories of NFT platforms and wallets getting hacked nowadays”, said Raul Heraud, zkTube’s COO. Given the additional encryption of the PayTube wallet, zkTube is well-positioned to become a leader in the NFT world. In fact, the group is already in talks with some of the largest players in the GameFi sector.
The zkTube community is strong. Despite the Mainnet not being launched yet, zkTube community has over 200,000 members. The Mining test network has been online for about a month and already has over 135,000 nodes in 81 countries performing 11,000 transactions on a weekly basis. It is clear that early adopters see the value in zkTube’s solutions and want to be part of what is expected to be the first Layer 2 unicorn.
zkTube is based in Melbourne, and it is over 50-people strong, with more than 30 technical engineers and consultants in the field of cryptography. Together, they make up zkTube Labs and PayTube Explore, along with a leadership team that looks after both business units and explores new ideas. Senior management comes from International Blockchain Labs, a well-known Australian fintech company, and world-renowned universities including Deakin University, The Wharton School, and MIT Sloan. Their previous work experience is varied and just as impressive, including big names like JP Morgan, Merrill Lynch, Bain & Co., and NGS Crypto, Australia’s largest blockchain mining company.
The zkTube team is not stopping with these innovative solutions, as plans for new products, partnerships, and even acquisitions are in the books for the following twelve months. In the not-so-distant future, the group has the ambitious goal of listing on NASDAQ. For now, the focus will be on growing zkTube’s operations in Dubai and Canada, where they already have strong alliances and are in the process of co-building the country’s first official mining pool. Given the results to date, there is little doubt that zkTube will achieve its projected milestones and, likely, even more.
About zkTube
Website: zktube.io
Twitter: https://twitter.com/zktubeofficial
Medium: https://zktube.medium.com/
Reddit: https://www.reddit.com/r/zkTube_Official/
Facebook: https://www.facebook.com/zkTube.official/
Telegram: https://t.me/zkTubeProtocol
Discord: https://discord.com/invite/xtVdMCr54q
Gitter: https://gitter.im/zkTube-Labs/community
YouTube: https://www.youtube.com/channel/UCrEy7BBc9SbwpQ-a0Ix1oFw
Radio Host Dave Ramsey Warns Bitcoin Investor of His “Vegas Problems”
Dave Ramsey told a caller, seeking advice on his Bitcoin holdings, he has “Vegas problems.” Offering his advice on what he would do, the radio host unceremoniously recommended the caller cash out tomorrow.
“You’ve got Vegas problems, man. You walked up to the slot machine, put a quarter in and it dumped a bunch of quarters out and now you have this temptation to think that’s a plan. And thus is the problem with anything that is an extremely volatile asset…”
Bitcoin is Benefiting Everyday People
Ray from Kentucky got more than he bargained for when calling into The Dave Ramsey Show. Explaining his situation, Ray said in late 2019, his income tripled, and throughout the following year, he focused intently on paying off his debt. Currently, he has balances owed on just a car and a house.
Ray also mentioned he bought Bitcoin during that period, and his holdings are now worth about 0k. While substantial, Ray said it isn’t enough to pay off both the car and house. He asked Ramsey what he would do in this situation.
“It’s ballooned into this huge account now worth roughly 0k. So one of the things I want to do with it is obviously pay off the car, but it’s not quite enough to pay off the house.”
In 2020, the price of Bitcoin ranged from .7k at its lowest following the “Corona Crash” in March. To k at its peak going into 2021.
Despite the 649% ROI that Ray disclosed, as well as the expectation of further price appreciation, Ramsey, in no uncertain terms, told Ray, if it were him, he would take the money and run. Adding, Bitcoin is not something he would be buying in the first place.
Isn’t The Crypto Narrative Changing?
Ramsey’s views on Bitcoin are typical of many, particularly those born in the Baby Boomer years, and perhaps to a lesser extent, the Gen Xs. But it’s getting harder to dismiss Bitcoin as each day passes.
Coinbase is scheduled to debut on the Nasdaq on April 14. As a significant crypto company going mainstream, some see this event as the defining spark in legitimizing Bitcoin.
The FT hinted at this by giving a rundown of the first quarter financials of Coinbase, saying the earnings show that traditional finance can no longer ignore the crypto industry.
“Twitter folk quickly forged a consensus that such figures prove not only that Delaware-incorporated company is a profit-minting machine but that crypto itself can no longer be ignored by traditional finance.”
But changing hearts and minds will not happen overnight, especially not from a stock listing. Nor should it.
While Ramsey may have good intentions, he may also be fixated by his extreme biases to the detriment of his audience. It’s the extreme positions, on either side, that turns everyone else off.
Maybe it’s time to accept that not everyone gets it or even wants to get it.
Source: BTCUSD on TradingView.com
RIFT-Protocol Could Also Solve the Problems of Bitcoin
A recent large-scale malvertising attack identified by the TrendMicro security intelligence team has seen thousands of individuals around the world targeted by a sophisticated cryptojacking network. TrendMicro’s latest blog details the recently discovered but undocumented version, noting that the new version is “capable of taking over systems in order to mine Monero cryptocurrency and steal sensitive browser data like passwords and cookies.”
This strain of the Glupteba malware reportedly exploits a known security vulnerability in MicroTik routers to modify the target machine into a SOCKS proxy. This allows the attack to deliver widespread spam attempts that could threaten Instagram users. According to the TrendMicro team, the infection has a systematic mode of operation.
The use of sophisticated hacking techniques is not a new occurrence in the blockchain ecosystem. New technologies such as cryptocurrencies and blockchain have new challenges that must be constantly overcome.
Blockchain technology is currently entering a transformative era — the launch of the Bitcoin network in 2009 was the first iteration of blockchain technology, but the same solutions that worked a decade ago don’t necessarily work today. Scalability, security, and transaction throughput are significant challenges that must be addressed before the blockchain ecosystem can evolve.
ILCoin’s RIFT protocol represents the next step towards a truly decentralized future, addressing each of these challenges through a unique approach to blockchain technology. By reforging the way blockchain networks secure blocks and store information, RIFT unshackles blockchain technology and establishes a foundation for the next generation of decentralized platforms.
RIFT is a protocol designed to create infinite blockchain opportunities. RIFT not only provides extended use cases and functionality for cryptocurrency applications but also establishes a system that blends blockchain technology with daily life. RIFT’s “next version of the blockchain” allows the platform to minimize security risks while solving important issues such as cost, scalability, speed, privacy and storing data on the chain.
In the era of evolution, the right evolution
Products, services, and platforms seeking to leverage blockchain technology are currently inhibited by a number of restrictions that impede blockchain integration such as the scalability of contemporary blockchain networks, slow transaction times, or the inability to store large amounts of data on-chain. Over time, various solutions have been proposed to address these problems — but few are effective.
Many enterprises choose to store data offline due to the risk of breaches presented by third-party data storage. Others turn to hybridized solutions such as IPFS, which currently lack the scalability to provide enterprise-level functionality. The main strength of ILCoin’s RIFT protocol, however, is based on the fundamental principle of blockchain technology. RIFT Protocol applies fractal principles to block architecture, establishing a second layer of “Mini-Blocks” that greatly expands data storage capability.
Using the RIFT communication protocol, blockchain networks are able to dramatically speed up transaction times and securely store data on-chain through a unique “nested” block structure. Data protection within the RIFT protocol is guaranteed, as all transmitted or stored data is fully encrypted.
RIFT’s major breakthrough is the use of “Mini-Blocks” to store large amounts of data on-chain. Each RIFT Mini-Block size is set at 25MB, which are contained in Blocks on the Block layer. ILCoin development team has tested extensively with a block size of 1.5 GB and recently they successfully tested block size of 5 GB as well.
Through the RIFT protocol, synchronization is performed in an asynchronous manner, via a Mini-Block. Mini-Blocks have a hash reference to other Mini-Blocks. This communication structure allows nodes to synchronize with each other in a decentralized manner. The RIFT protocol fundamentally alters the way blockchain networks manage data, enabling an integrated chain-based data storage solution.
The opportunities are boundless
The RIFT protocol is positioned to dramatically reform the way blockchain technology is used both in enterprise applications and everyday life. RIFT protocol has not been created for simple transactional operations, but to be part of various “solutions” or enterprise system like ILCoin’s Decentralized Cloud Blockchain (DCB).
ILCoin’s Decentralized Cloud Blockchain (DCB) is a novel approach to the way in which blockchain networks manage and store data. Contemporary blockchain networks, such as the Bitcoin or Ethereum networks, are unable to encrypt and store large amounts of data in a decentralized manner.
The ILCoin development team is creating the DCB system in order to facilitate the storage of large amounts of data of any kind, such as video, images, or documents.
DCB allows users to store large files within mini blocks. Each Mini-Block within a RIFT Protocol block is capable of storing 25MB of data. Data uploaded to DCB is divided into 25MB fragments, encrypted, and stored within the ILCoin blockchain.
RIFT protocol is the foundation and basis of DCB. Setting up an on-chain based data storage system like DCB is simply impossible without the RIFT Protocol.
The world will experience the true power of the blockchain through the revolution of RIFT protocol.
The post RIFT-Protocol Could Also Solve the Problems of Bitcoin appeared first on NewsBTC.
Bank of England Governor on Libra as a Solution to Financial Problems
n Mark Carney says Libra is aiming to fix issues that need to be addressed, even if Libra proves not to be the solutionn
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