Kin News (KIN) - Page 1

Mastercard is backing bitcoin
Mastercard is backing bitcoin   In the United Kingdom there are nearly 50 million MasterCard users for 16 years. However, there is currently a class action lawsuit seeking fines and damages of over $ 15 billion. In this case, it is legally asserted that MasterCard charged retailers with too much fees. This meant that retailers were forced to raise prices for their products. MasterCard has fought in this class action lawsuit, saying, "We have objected to the grounds of the lawsuit, and UK consumers have benefited from services such as the company's security and convenience services for fees."   Traditional financial systems have failed many times. Bitcoin is a distributed system and can not be tampered with, so hacking is impossible. In fact, transaction fees are very transparent and there are also sites for providing that information.   Currently, Bitcoin transaction fees are unstable. In the bull market in 2017, the confirmation time was longer, resulting in higher fees.   The bearish market conditions eased the pressure on the system. The developers were able to build an infrastructure with enough scalability to perform the function of a global reserve currency.
April 24, 2019 7:54 AM

Crypto Exchange Bibox Canceled Staking's IEO Token Sale Over Conflicts of Interest
Cryptocurrency exchange Bibox canceled one of its first four initial exchange offering(IEO) token sales on Monday, just two hours before the scheduled start of the IEO on Monday. The Estonia-registered digital asset suspended the listing of Staking(SKR), a self-claimed decentralized asset management platform, which got ready to kick off its token sale on Bibox?s IEO platform, dubbed Bibox Orbit, at 10:00 A.M., April 22(GMT+8) amid questions over conflicts of interest. The exchange said in a statement which was released two hours before the token sale event that ? Given the Staking project is unable to control over-the-counter token and token outflowing, after through discussion with the team and taking communities? interests into consideration, Bibox Orbit team decided to suspend SKR listing.?
April 23, 2019 5:06 PM

What's the difference between a tz1, tz2, and tz3 wallet Cryptography
Tezos supports 3 cryptographic curves that are denoted by the number after tz in the public key hash: tz1, tz2 or tz3. Almost all current baking operations use tz1 addresses which are backed by the ed25519 cryptographic signature algorithm. While perhaps the most secure curve, this curve is newer and unsupported by all major Cloud HSMs. Delegation services using a tz1 address need to trade off the cryptographic security of Ledger baking with the risks associated with physical security, or of having a software defined cloud hosted wallet. tz3 addresses use the NIST p256r1 curve whose parameters were securely selected by the National Institute of Standards and technology. These addresses are used by the Tezos Foundation. The Tezos Foundation wanted to use Amazon Web Services? Cloud HSM solution for key management and at the time of key generation only the p256r1 was supported by AWS. However, the standard `tezos-client` binary no longer fully supports the p256r1 curve, posing additional risks and costs on operations that wanted to mimic the Tezos Foundation.
April 22, 2019 8:09 PM

Vitalik Buterin Proposes Doubling Staking Rewards
Vitalik Buterin, ethereum?s inventor, has suggested an increase in rewards for stakers from circa 2.5% to nearly 6% assuming 10 million eth is staked. Buterin said: ?An issuance increase is proposed based on community feedback, to 2**21 ETH if 2**27 ETH is validating, along with an agreement to set the base reward quotient based on a pre-set max issuance bound once all protocol details are finalized.? Justin Drake, an eth 2.0 researcher at the Ethereum Foundation, said ?targeting 2^25 ETH at stake (~32m ETH) for the long term feels about right for strong security.? He added: ?In such conditions, the base inflation would be ~1% and the base return ~%3.2%. Assuming each shard consumes on average 1,000 ETH in gas per year (about 100x less than what Eth1 consumes today), with half of the gas burnt, then inflation would be ~0.5% and the validator return ~5%. Feels healthy!
April 22, 2019 12:58 PM

JP Morgan partners with 200 banks to build a massive banking network on Ethereum fork
The largest bank in the US (also one of the largest in the world), JP Morgan, plans to create a massive banking network. The network will be running on a permissioned Ethereum fork called Quorum. The network is called Interbank Information Network (IIN). IIN was launched as a pilot in 2017. According to JP Morgan, IIN is the firm?s first scalable, peer-to-peer network powered by blockchain technology. JP Morgan plans to reduce the challenges of Interbank information sharing, including Cross border payments. ?The more banks that join the network, the more dramatic the reduction in payment delays,? said John Hunter, Head of Global Clearing for Treasury Services, in a press release by JP Morgan. ?As the network scales, our clients? payments will be processed faster with less operational expense.?
April 22, 2019 10:04 AM

The Essence of Staking Economy Active Engagement
Special credit to ChainNews for edition work Since the advent of Staking Economy, the market has gradually turned the spotlight onto it. Too much time and energy, I think, has been put on calculating how lucrative it looks on book, but most has overlooked the essence of staking the action???active engagement. From day one, the concept of blockchain has been encouraging the engagement of the community. The blockchain network, through issuing cryptocurrencies and introducing incentive mechanisms, has successfully integrated varied identities or interested parties, such as users, investors, developers and miners, into one, and made them contributors to the development of it.
April 22, 2019 2:08 AM

Taking Ethereum mainstream with plasma at Blocksplit - burner wallets on plasma
At ETHDenver 4405 meal purchases have been done with BuffiDAI (a DAI equivalent, identical in value to 1 USD) and burner wallet in only 3 days. The community is claiming a success in scalability and adoption of Ethereum: BuffiDai proved that POA might be a viable scalability solution for Ethereum, but it?s not the only one. LeapDAO and Blockada have partnered up to demonstrate that Plasma is ready to be used the same way. At BlockSplit and DaoCon Zero, participants will be using Plasma chain called Sundai. At the EthCC 2019 talk ?Fixing Ethereum?s Fragmented User Experience? Taylor Monahan lists 45 steps a new user needs to take to be able to use a decentralized application. Onboarding new users is an unsolved problem in the crypto-currency space.
April 18, 2019 9:38 AM

Binance's Official Crypto Wallet, TrustWallet, Launches IoTeX Staking/Voting dApp!
With Mainnet Alpha on the horizon, IoTeX is always looking for new convenient ways for our community to stake/vote for Delegates. Flexibility, clean interface, and security are needed to ensure the safety of voters? tokens and provide a great user experience. This is why we are excited to announce the new IoTeX Staking/Voting dApp in Trustwallet! For those not familiar with the IoTeX voting process, see our Voter Handbook. Trust Wallet is a mobile wallet app that lets you send, receive and store cryptocurrency tokens, including IoTeX. Designed with a focus on simplicity, Trustwallet aims to provide a platform that?s easy and straightforward to set up and use. TrustWallet was acquired by Binance in July 2018.
April 18, 2019 3:45 AM

Running a Cardano Staking Pool on a Rock PI Single Board Computer with just 5 watts for ~USD$100 #IOHKSummit2019
Marcus Gufler y Robert Kornacki de presentaron un dispositivo de hardware abierto basado en Rock PI, una nueva familia de computadoras (SBC) de bajo costo más poderosas que los famosos Raspberry PI, específicamente diseñado para correr Staking Pools de Cardano. Miami Beach Convention Center, 17 de abril de 2019. Robert Kornacki abrió su presentación comparando las diferencias de poder de cómputo de la generación actual de Single Board Computer (SBC) populares conocidas como Raspberry PI vs las nuevas Rock PI. Las Rock PI cuentan con 6 núcleos de CPU, 4 GB Ram y capacidad de uso de discos de estado sólido (SSD), pero lo más impresionante es que solo consumen 5 vatios de poder.

Of Forbes Top 50 Billion-Dollar Companies Exploring Blockchain,' Over Half are Working with Ethereum
Forbes recently released a new list that features 50 companies???with minimum revenues or valuations of $1 billion and U.S. operations???that are exploring or integrating blockchain technology into their operations. The new Forbes list will ultimately be comprised of 100 companies, but only the initial 50 have been released so far. Already, we have enough information to begin extrapolating findings from their research that present some very encouraging signs for the development of Ethereum and blockchain technology as a whole. A report from International Data Corp stated that corporate and government spending on blockchain technology has increased by 89% compared to last year, and is set to hit $2.9 billion in 2019. By 2022, the firm reports that total blockchain spending will reach $12.4 billion. In a survey from Deloitte, 95% of respondents stated that their companies plan to invest in blockchain tech this year. Similarly, PwC conducted another survey of 600 executives in which 84% expressed that their companies are already involved with distributed ledger technology.
April 17, 2019 11:18 AM

The Decred social contract is different from Bitcoin
This post is a reaction to the essay ?Unpacking Bitcoin?s Social Contract? by Hasu, which uses social contract theory to give readers a better understanding of what Bitcoin is. This text does the exact same for Decred. Bitcoin is a novel social and economic institution. It is so different from our existing institutions that we should be skeptical and ask many hard, pressing questions before we can trust Bitcoin with any economic value. Decred is an iteration of the Bitcoin protocol. Similar questions need to be asked before we can trust Decred with any economic value. The text relies heavily on Hasu?s essay to explain social contract theory and how it can help us to better understand Bitcoin and Decred. Many sentences will reuse or re-purpose his words. You can read the original essay here:
April 17, 2019 9:29 AM

SBI virtual currencies delists BCashABC
Follow us on Telegram | Twitter | Facebook Breaking: SBI Virtual Currencies delists Bitcoin Cash in response to Binance?s Bitcoin SV delisting SBI Virtual Currencies, a licensed cryptocurrency exchange based in Japan, has delisted Bitcoin Cash in a knee-jerk response to the recent delisting of Bitcoin SV by Binance. Speculators suggest the Japanese exchange?s close ties to the BSV camp as the reason behind BCH being booted out. As confirmed by an SBI press release, translated from Japanese, dated April 16, the exchange stated that the ?schedule for the abolition? of Bitcoin Cash is proposed for the end of the month. However, the date of withdrawal for the same is ?planned? for June.
April 16, 2019 1:12 PM

Bitcoin SV delisting shows self-regulation is the way forwards
Binance is large and well-respected cryptocurrency exchange. Yesterday, it announced that it would delist Bitcoin SV (tickers: BCHSV, BSV) because it ?no longer meets? the Exchange?s standards. Public cryptocurrencies are all open source and you may reuse the source code without restriction. Therefore if you don?t like the technical direction a project is taking you can copy the code, make the changes you want and release it under a new name. This is called ?forking?. The first fork to get the public?s attention was the fork of Bitcoin in August 2017 that produced Bitcoin Cash. This goal of this new chain was to reduce the cost of Bitcoin transactions by using larger blocks. While the Bitcoin and Bitcoin Cash teams would both argue that in the long-run their coins will do everything a user wants in practice this resulted in two coins with two different use cases.  Bitcoin is optimised as a secure digital store of wealth (?digital gold?) and Bitcoin Cash is optimised for transactions (?digital cash?).
April 16, 2019 5:26 AM

Coinbase And Visa Are Making XRP, Bitcoin, Ethereum, And Litecoin Payments A Reality
To give you a great browsing experience free of charge, this site uses cookies. Cookies help us personalize content and ads, provide social media features, track your preferences, and analyze traffic. Forbes may share this information with its advertising, analytics, and social media partners, who may use it with information you have provided to them in connection with their services. For more information: Privacy Statement To consent and proceed, click "Continue to Site." Bitcoin and other major cryptocurrencies, including ethereum, Ripple?s XRP, and litecoin, have long struggled against accusations they are harder to spend and use in the real world than their traditional fiat counterparts.
April 11, 2019 8:14 AM

Coinbase and Visa launch the Coinbase card, a Visa debit card which can be used to spend Coinbase bitcoin, ethereum, XRP, and litecoin balances
Bitcoin and other major cryptocurrencies, including ethereum, Ripple's XRP, and litecoin, have long struggled against accusations they are harder to spend and use in the real world than their traditional fiat counterparts. The bitcoin price, which leaped higher last week to trade around $5,000 per bitcoin, has been called too unstable and volatile to be used as a means of payment, resulting in bitcoin and other cryptocurrencies being used more of a store of value, like gold, than traditional means-of-exchange currency. Now, major bitcoin and cryptocurrency exchange Coinbase has teamed up with global payments processor Visa to try to change that, launching the Coinbase Card which allows users to "spend crypto as effortlessly as the money in their bank."
April 10, 2019 7:39 PM

China Motions to Ban Cryptocurrency Mining, affecting all proof-of-work cryptocurrencies like Bitcoin, Seeking Public Opinion
Home » China Motions to Ban Cryptocurrency Mining, Seeking Public Opinion China has included cryptocurrency mining on its list of industries that it wishes to restrict or eliminate. The ?list? was composed by the National Development and Reform Commission (NDRC) and cites these problem industries for not complying with the laws and regulations of the state, for being unsafe, or wasting national resources. This move is likely due in reaction to the boom and subsequent bust that the cryptocurrency market went through between 2017 and 2018. During this time a handful of cryptocurrency mining companies like Bitmain and Canaan raised massive funds to manufacture mining equipment and mine cryptocurrencies, but are now in shambles.
April 09, 2019 11:29 PM

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