Satoshi Invented GPU Mining to Defend the Network Says Early Dev

Satoshi Nakamoto had pre-invented Bitcoin (BTC) GPU mining in order to defend the network, says early Bitcoin developer who worked with the Bitcoin creator in 2010. Laszlo Hanyecz, who is known for making the first real-world Bitcoin transaction, has also been credited with inventing Bitcoin GPU mining. However, in a Cointelegraph interview, he said that not only Satoshi had invented it before him, but he also had several versions of the algorithm. Hanyecz’ Bitcointalk Post Describing GPU Mining.  Source: Bitcointalk.org. “Hey, go slow with this” According to Hanyecz, one of…

China’s TON Community to Launch Their Own Blockchain Network

Telegram’s terminated blockchain project, Telegram Open Network, or TON, keeps spawning new community-led TON networks.  While there are at least two global TON-based initiatives so far, namely Free TON and NewTON, the Chinese TON Community has opted to launch their own TON network. In a May 29 blog post, the Chinese TON Community voiced its intention to launch a separate TON-based network. The new effort comes in response to Telegram CEO Pavel Durov officially shutting down the firm’s involvement in the project, the post notes. Blockchain testnet is a first…

$40 Billion Infosys Joins Matic Network as a Validator

Indian IT firm, Infosys, will assist Matic’s goals to scale the Ethereum network using Plasma. Share this article India’s most revered technology company, Infosys, will join the MATIC Network as an early validator. This marks a landmark partnership for MATIC and its goal of scaling Ethereum through Plasma.  MATIC Taps Institutional Player One of the first Binance IEOs, MATIC, has seen formidable price appreciation, rising 470% against BTC since it was listed in April 2019. Source: CoinGecko Now, the layer two scaling solution has been given a significant boost with…

Google Cloud Gets Involved With Theta Network as Its 2.0 Mainnet Launches

Theta has brought Google Cloud on board as a node operator and cloud service provider. Key Takeaways Google Cloud will support Theta Network’s streaming video service as an infrastructure provider. Theta aims to improve content delivery through its peer-to-peer streaming platform. Share this article Theta Network, a blockchain-based media platform, has announced that Google Cloud will serve as a node operator and cloud provider. The news coincides with Theta’s 2.0 mainnet launch. Google Cloud’s Contributions Google Cloud will run an enterprise validator node for Theta, meaning that it will validate…

Ethereum Network Use Hits a New All-Time High — Will ETH Price Follow?

According to a recent report by Delphi Digital, the total gas used on the Ethereum blockchain has reached an all time high and it seems like this the figure is set to increase. Gas is the measure used to price fees on the Ethereum blockchain, and the overall use of gas on the network has been rising since the beginning of 2020.  Gas Used vs. Max Gas Possible. Source: Delphi Digital The total gas used is unlike the transaction fee metrics in the Bitcoin blockchain. On the Ethereum network, transaction…

TON Doesn’t Stand for ‘Telegram Open Network’ Anymore

TON once stood for “Telegram Open Network,” but has changed its name to reflect the messaging giant’s departure from the blockchain project. The project will simply be known as “The Open Network” going forward. Telegram officially terminated its involvement in Telegram Open Network in mid-May 2020. Although Telegram’s version of TON is no longer moving forward, it has given rise to other projects like Free TON and NewTON. The name change was planned from the beginning TON’s white paper revealed that the project’s name has two different meanings — “Telegram…

Is Blockstream’s Liquid Network an Attempt to Compete for Tokens with Ethereum?

At Consensus Distributed on May 12, Blockstream presented Lightnite, a Fortnite-like game that uses the Liquid Network for storing non-fungible tokens (NFT) representing game items. While the game is developed by independent company Satoshi’s Games, Blockstream has sponsored the game by running a token giveaway.  The announcement has garnered a considerable amount of criticism from Ethereum (ETH) fans, given the longstanding rivalry with the Bitcoin (BTC) “maximalists.” Non-fungible tokens are traditionally associated with Ethereum and other smart contract blockchains, and received constant criticism from Bitcoin community members as part of…

As Bitcoin Halving Dust Settles, Network Awakens to Costly New Reality

Things haven’t quite been the same since the Bitcoin (BTC) halving. A substantial number of miners have pulled the plug on their equipment due to the halved reward. Consequently, transaction fees are now considerably higher, the hash rate has shed around 25%–40%, and new blocks are generated at remarkably low speed. So, what can be done to prepare for this new post-halving reality, or will things return back to normal in the near future? Here is a closer look at which blockchain processes have been affected. Hash rate One of…

S9 Miners Return to Bitcoin as Network Hashrate Stabilizes

Despite recent blows to Bitcoin’s hashrate, Antminer S9s are returning to the network. The resurgence indicates that miners are confident in sustained BTC prices. Key Takeaways Bitmain Antminer S9 devices currently account for 32% of Bitcoin’s hashrate, up from previous weeks. This has modest security implications for Bitcoin-related coins, such as Bitcoin Cash and Bitcoin SV. Bitcoin transaction fees now make up a much greater portion of miner revenues after the halving. Share this article After last week’s halving, miners took their S9 ASICs offline as Bitcoin revenues dropped. Now,…

72-hour Live Global Blockchain Education Event – Featuring: 100+ University Network, And Blockchain Leaders Including: Ripple’s Xpring, Hedera Hashgraph, And 20+ More

In response to the wave of event cancellations and shelter in-place orders, the MouseBelt Blockchain Accelerator and its partners are rallying together to provide free and interactive virtual events for the blockchain community. Share this article MouseBelt, an ecosystem promoting blockchain innovation by supporting hands-on development of the emerging projects and leaders in the industry, today announced their upcoming virtual conference REIMAGINE 2020. The event will feature a 72-hour non-stop livestream of keynotes, panels and debates with one-off workshops and networking events happening simultaneously. The stream starts May 18. Partners…