Blockstream Has 3x The Hashpower of Entire Bitcoin Cash Network


Forbes writer Kyle Torpey reported that Blockstream, a crucial company in Bitcoin Core development, has been hosting Bitcoin miners at two facilities for quite some time. Big Boy Mining Top clients include Fidelity’s Center for Applied Technology (FCAT). Fidelity is a financial firm which increasingly throws itself into the blockchain industry. Blockstream employs BetterHash, an improved mining...

'Embarassed' Bitcoin Core Dev Matt Corallo Slams Toxic Blockstream CSO

Bitcoin, Bitcoin Core

By CCN: Matt Corallo, also known as “The Blue Matt,” has blocked Blockstream CSO Samson Mow on Twitter. Mow, according to Corallo, represents a toxic element of the Bitcoin community. Gavin Andresen once called Mow and Gregory Maxwell “toxic trolls.” Best decision I've ever made. I'm honestly pretty embarrassed to have helped cofound @Blockstream. pic.twitter.com/6gz4Kmcaew — Matt...

Bullish Call: Blockstream Chief Finds $500,000 Bitcoin Price Plausible

bitcoin price

Adam Back, who is at the helm of blockchain startup Blockstream, believes there are better days ahead for bitcoin investors, suggesting a flippening between BTC and gold could be in the cards. Back says it is "plausible" for the BTC price to reach somewhere between $250,000 and half-a-million dollars in the coming years. He offered the outlook even as the bitcoin price has yet to find a bottom...

'Liquid Network': Blockstream's Bitcoin Sidechain is Now Live

bitcoin sidechain liquid network blockstream

Samson Mow, chief strategy officer at Blockstream, announced today that the blockchain startup has launched the Liquid Network, a Bitcoin sidechain. Liquid is, as described by the company, "an innovative sidechain built on the Bitcoin network, facilitating faster bitcoin transactions between businesses and individuals, while enabling extended functionality." The main purpose for the technology is...

Blockstream’s Lightning Network Implementation Enters Beta, Includes TOR Support

Lightning Network

The 0.6 release of Blockstream’s scalability solution for Bitcoin, c-lightning, has been released. With this Lightning Network implementation, which is written in the C programming language, the client has moved to a new architecture that enhances its adaptability in meeting specific needs and infrastructure. "This complete rewrite of the previous implementation is the first fully specification...

Greg Maxwell Resigns from Blockstream to Focus on ‘Deep Protocol Work’


Bitcoin Core developer Greg Maxwell has resigned from blockchain startup Blockstream to focus his efforts on open-source protocol development. Maxwell made this announcement in an email distributed to the bitcoin-dev mailing list, adding that he had submitted his resignation in November but had only just wound down his involvement with the company. “In order to spend more time working...

NYSE Owner Will Launch Cryptocurrency Data Feed for Institutional Clients


The owner of the New York Stock Exchange (NYSE) has announced that it will launch a Cryptocurrency Data Feed to provide institutional clients with real-time market information from cryptocurrency exchanges located throughout the world. NYSE Owner to Launch Cryptocurrency Data Feed for Institutional Clients Intercontinental Exchange (ICE) -- best known as the operator of the NYSE -- made the...

Blockstream Satellite Takes Bitcoin One Step Closer to the Moon

Bitcoin price moon

According to crypto lore, bitcoin's meteoric rise will one day culminate in a trip to the moon. It's not there yet, but Blockstream is trying to take it one step closer with the launch of Blockstream Satellite. The project, which is currently in its beta stage, uses leased satellites to broadcast bitcoin to users across the world. After receiving blocks from the Blockstream "teleport" stations...

Op-Ed: Bitcoin Scalability 'Consensus': Is Such a Thing Even Possible Anymore?

Bitcoin segwit

Another year, another consensus on the never ending scalability “debate.” Almost all bitcoin companies you can name, almost all the miners, have agreed to segwit + a 2MB maxblocksize hardfork upgrade in some months. But, no one really cares anymore as far as the vast majority are concerned. The market has plenty of real alternatives now and plenty of people are using them. Time for voice was long...

Bitcoin Dev Gavin Andresen: Samson Mow and Greg Maxwell = “Toxic Trolls”


Gavin Andresen, who has largely retired from Bitcoin work, took Samson Mow and Greg Maxwell to task for their “toxic” trolling. While Maxwell would probably not agree with the characterization, Mow is legendary for his trolling. Mow trolled anti-Blockstream people so much that he eventually got himself a job at the company. Andresen released a new service which verifies whether sources of...

Op-ed: Blockstream Calls a Bitcoin Mining Optimization an "Attack"

Bitcoin DDoS

Gregory Maxwell, Blockstream’s CTO, has made an astonishing statement in the mailing list regarding an algorithmic optimization called AsicsBoost which was revealed last year. Maxwell states: “Due to a design oversight the Bitcoin proof of work function has a potential attack which can allow an attacking miner to save up-to 30% of their energy costs (though closer to 20% is more likely due to...

“Bitmain Has Never Used AsicBoost in Production”, Says Jihan Wu

Jihan Wu, co-founder of bitcoin mining equipment maker Bitmain, has rebutted a statement made yesterday by Gregory Maxwell where he says that a “design oversight” in Bitcoin’s proof of work “has a potential attack which can allow an attacking miner to save up-to 30% of their energy costs.” Maxwell further stated: “Reverse engineering of a mining ASIC from a major manufacture has revealed that it...

Bitcoin Core Runs “Trolling Campaigns”, Says Lightning Network Developer


Joseph Poon, Lightning Network developer, has publicly stated today that Bitcoin Core has “a secret channel where they organize their PR and trolling campaigns.” He further stated that “many people have talked about it (more than 5 people) and it’s alluded to it in various places which are publicly accessible since it’s basically where a lot of decisions around PR happens.” The statement was...

Op-ed: A New Bitcoin Blocksize Proposal Goes Nowhere

Bitcoin scalability

I woke up today to what appeared to be good news. Joseph Poon, a Lightning Network developer, Stephen Pair from BitPay, Christopher Jeffrey from Purse and Fedor Indutny, had published a seemingly interesting proposal. In what appeared to be a compromise that may reluctantly get the support of both sides, they proposed both on-chain scaling and segwit activation through a mechanism called...

“Time for Moon Not In-fighting” - Says Blockstream’s President

Adam Back, the President of Blockstream – a company which employs or contracts numerous developers of Bitcoin Core, Litecoin and the Lightning Network, including Pieter Wuille, Gregory Maxwell, Christian Decker, Gregory Sanders, Glenn Willen, Warren Togami, Luke Dashjr, Mark Friedenbach, Jonas Nick, Rusty Russell, Patrick Strateman and Jorge Timón – has called for all to “collaborate on a unified...

Bitcoin Core Dev Recommends a 70% Reduction in Transaction Capacity after $250 Million Backlog

bitcoin Cash

Luke-jr, developer of the Bitcoin Core client and Blockstream contractor, has recommended in a developers’ mailing list Bitcoin Improvement Proposal announcement an instant 70% reduction of bitcoin’s transaction capacity to 300kb, followed by a yearly increase of around 17%, reaching the current transaction capacity of 1MB in 2024. Thereafter, it is intended to continue increasing by 17%...

Bitcoin Slows to a Crawl as Transactions Backlog Reaches a Quarter of a Billion Dollars


Following the re-adjustment of bitcoin’s network difficulty after a sudden increase, a massive transaction backlog began developing yesterday, leading to a torrent of complaints. An incredible sum of 278,872.21 bitcoins, worth around a quarter of a billion dollars, is currently in limbo, stuck in the ether, unable to move. In response, angry users have littered public spaces to vent their...

Is Bitcoin Unlimited Headed for Activation?


During summer 2016, many thought the bitcoin scalability debate was over. Blockstream won, said a miner. Coinbase, after spending more than a year vocally asking for increased capacity, threw in the towel and hedged with ETH. Circle, seeing the changed environment, announced, very suddenly and unexpectately, that they were ending bitcoin purchasing. At the Blockchain Money Conference in London...

Indian Bitcoin Exchange Unocoin Releases APIs, Partners Blockstream for Remittance

Bitcoin bank

Unocoin, arguably India’s foremost bitcoin exchange and wallet provider has announced the implementation of its APIs, a first for the company. The feature will help enable adopters, be it individuals or companies, to generate bitcoin wallets to transact with and store the cryptocurrency as a payment method. The API also allows for real-time or historical price information, bitcoin payment options...

Bitcoin Scaling Conference In Milan Highlights Collaborative Initiatives


There is no shortage of ideas about how to meet the bitcoin scaling challenge. More importantly, however, is the willingness of the community to share its ideas and work on ways to bring them to fruition. This much was obvious from this weekend’s Scaling Bitcoin “Retarget” conference held at the Politecnico di Milano Piazza Leonardo da Vinci in Milan, Italy. This year’s two-day conference...

The First End-To-End Bitcoin Micropayment Test on Lightning Network is Successful

lightning network bitcoin

Readers may remember our coverage of a Roger Ver interview from a few days ago where the veteran Bitcoiner and entrepreneur told Bitcoin Uncensored that Lightning Network was still untested and could take a long time to get off the ground. At the time, he was right. But this morning CCN can report that a successful test, using Bitcoin testnet coins, has been conducted by developers at Blockstream...

Bitcoin Startup Blockstream Appoints Adam Back as CEO


Open source bitcoin startup Blockstream, notable for its foray into developing sidechains for the bitcoin blockchain will now see a CEO at its helm. In a recent announcement, Blockstream revealed a unanimous decision by the company’s board of director that saw Blockstream co-founder Adam Back become CEO of the company. Back held the role of President before his new position and has also operated...

Blockstream Won, Says Bitcoin Miner in Blocksize Debate


Disclaimer: The views expressed in the article are solely that of the author and do not represent those of, nor should they be attributed to CCN. A mood of resignation prevails across the bitcoin space as a viciously years-long debate that has taken the reputation of so many and the time and focus of all, seemingly, comes to an end. Eric Mu of HaoBTC, one of the most influential, if not the...

Blockstream Acquires Bitcoin Wallet GreenAddress to Advance Sidechains Project

bitcoin blockchain sidechain

Open source blockchain developer Blockstream, notable for its endeavor for developing sidechains for the bitcoin blockchain has acquired multi-wallet provider GreenAddress. The acquisition, it says, will help the strengthen its sidechain platform. In an announcement yesterday, bitcoin blockchain-centric Blockstream revealed its acquisition of European multisig bitcoin wallet GreenAddress, in a...

PwC and Z/Yen To Explore Blockchain Use In Wholesale Insurance

Blockchain PwC

PriceWaterhouseCoopers (PwC), a provider of audit and assurance, tax and consulting services, has teamed with Z/Yen, a London-based commercial think-tank that promotes societal advancement through better finance and technology, to study the potential of blockchain technology in wholesale insurance. The two companies will tap a range of insurers, re-insurers, and wholesale brokers to develop a...

Jeff Garzik Defends Hard Fork Solution for Bitcoin Block Size Issue

Steemit Ethereum hard fork

Jeff Garzik, a bitcoin code veteran who recently launched the Bloq code-for-hire service to develop blockchain features, continues to defend a hard fork solution to the bitcoin scaling challenge. Garzik has engaged with individuals who disagree with him on Twitter in the last few days. Everyone agrees the block size needs to expand if the bitcoin network is going to process a larger volume of...

Hyperledger Blockchain Project Sees 10 New Members including Blockstream & Bloq

Hyperledger Blockchain

The open-source Hyperledger Project led by the Linux Foundation sees 10 new members joining the initiative. The blockchain endeavor also sees the filling of key leadership positions in a recent announcement. In a recent announcement, the Hyperledger Project revealed 10 new companies that joined the blockchain endeavor. The companies include a number of bitcoin- and blockchain-centric startups...

PwC Report: Blockchain a 'Once in a Generation' Opportunity for Financial Services


Blockchain marks the next “jump” in business process/optimization technology, according to a newly-released PriceWaterhouseCoopers (PwC) report on fintech. The report, “Blurred lines: How FinTech is shaping Financial Services,” compares blockchain to Enterprise Resource Planning (ERP) software that allowed entities and functions within a business to optimize processes by sharing logic and data...

Mike Hearn: The Problem with Bitcoin is its "Terrible" Leader


Former Bitcoin Core developer and current R3 employee, Mike Hearn, has claimed that Blockstream – a blockchain-based startup comprised by a group of Bitcoin core developers is the source of the refusal behind Bitcoin’s block size increase. He also cites that Bitcoin's "leader" is Blockstream co-founder and CTO, Gregory Maxwelll. In a post made on a public forum today, Hearn directly asserts that...

Blockstream’s Austin Hill: Blockchain Brings Huge Savings To Financial Regulators


One of the key sectors to adopt blockchain technology will likely be government regulatory agencies, says Austin Hill, Blockstream CEO, in a recent Bloomberg TV interview. Bloomberg TV host Angie Lau interviewed Hill on “First Up.” Blockstream has developed a blockchain "sidechain" technology to bringing cross-chain functionality between the bitcoin blockchain and other public and private...

Blockstream Gains $55 Million Funding to Aid in Sidechains for Bitcoin's Blockchain


In an announcement today, Blockstream has announced that it has successfully raised $55 million in Series A funding, bringing the total capital raised in its funding run to $76 million. The influx of finances will help the company further develop its innovative sidechain technology. Blockchain-based Blockstream has announced significant new investment into its Series A funding today. Adding to a...

PwC and Blockstream Announce Strategic Partnership on Blockchain Tech

PwC Tezos

As momentum continues to build for mainstream adoption of blockchain tech, PwC and Blockstream recently announced a strategic partnership to "bring blockchain technology and services to companies around the world." This partnership comes on the heels the close of a big round from Digital Asset Holdings and a noteworthy announcement of further exploration and excitement of the technology within...

Blockstream Announces Liquid – the First Sidechain for Bitcoin Exchanges


Blockstream has announced its first Bitcoin sidechain called Liquid, set to be launched in early 2016. The sidechain will serve payment processors and brokerages among a dozen other major traders and licensed exchanges with instantaneous and secure transactions. Months after releasing the source code of Sidechain Elements - a codebase for developers to experiment and build sidechains...

Blockstream Unveils Sidechain Elements, "Open Source Code … For Advancing Bitcoin"


Blockstream has been working on projects to extend Bitcoin for quite some time. It is one of a few such companies that believe that the block chain, and Bitcoin more generally, can be extended beyond its current abilities, and that experiments can take place which later on could benefit Bitcoin itself. One of its long-awaited projects has now been released to the community, Sidechain Elements...

2014 – The Best and Worst Year for Bitcoin so Far


As the world prepares to say goodbye to another year and Bitcoin nears its sixth birthday, we look back at one of the more memorable and eventful year of Bitcoin's history. A year in which Bitcoin began to mature and, just like a six year old child going to school for the first time, left his home to meet the world and learn how to deal with hostile strangers, authoritative teacher regulators and...

Blockstream - Billionaire Entrepreneurs Betting Big on Bitcoin


In another case of billionaires betting big on Bitcoin and the blockchain technology, a number of technology entrepreneurs have come together to work on a Bitcoin project. The group of entrepreneurs who have previously worked with companies such as LinkedIn, Sun Microsystems and Yahoo have so far contributed a total of US$ 21 million to Blockstream. Also read: SEC Form Shows Bitcoin Technology...

The Sidechains Bitcoin 2.0 Revolution - Highlights from Reddit AMA


The authors of the new Bitcoin Sidechains paper "Enabling Blockchain Innovations with Pegged Sidechains," published on the Blockstream website, hosted a Reddit AMA yesterday. Also read: SEC Form Shows Bitcoin Technology Company Blockstream Already Has Millions in Funding AMA means “Ask Me Anything” – Reddit users can ask the host all sorts of questions about any topic. Reddit AMAs use the site’s...

SEC Form Shows Bitcoin Technology Company Blockstream Already Has Millions in Funding


Blockstream, the new for-profit Bitcoin technology company that will be developing sidechains, already has some significant funding. As revealed by a Form D fundraising disclosure form filed at the beginning of the month, Blockstream has already secured over 15.1 million USD in series A funding, with potentially more to come. A Form D is filed with the SEC when funds are raised without prior...

Sidechains Whitepaper Authors Will Conduct Reddit AMA to Answer Questions about Blockstream


A collection of recognizable names from the Bitcoin space have teamed up under lead author Adam Back to release an official Sidechains whitepaper at Blockstream. Blockstream is the name of a new company dedicated to "working on trustless cryptographic infrastructure." The paper is available for download on the new Blockstream website. The sidechains concept first hit the public eye earlier this...