Timothy C. May, widely recognised as the progenitor of modern cryptocurrency and blockchain technology, has passed away at his home in Corralitos, California, at the age of 67. The renowned cryptography expert and former Intel engineer was a founding member of the Cypherpunk Mailing List and the author of the Crypto Anarchist Manifesto. He is credited with the invention of cryptographic...
Last week, China Electronic Information Industry Development (CCID) updated its blockchain rankings that previously ranked Ethereum as the best blockchain network in the global market. After pausing its blockchain network subsequent to the discovery of critical bugs, suspending 27 user accounts without reasoning, and receiving criticism from prominent experts like Cornell University professor...
On June 23, the cryptocurrency market demonstrated another minor short-term correction, as $13 billion were wiped out of major digital assets such as Bitcoin, Ethereum, Ripple, Bitcoin Cash, and EOS. EOS recorded the largest loss against the US dollar amongst major cryptocurrencies, dropping by more than 11 percent overnight. Bitcoin, Ethereum, and Ripple recorded a five percent loss but have...
“Consensus by conference call” -- that’s how one critic characterized the on-chain governance model employed by the nascent EOS network in the wake of several high profile incidents involving block producers. Most recently, the network’s 21 block producers -- organizations who verify transactions and validate blocks -- froze seven EOS accounts allegedly belonging to thieves who had stolen funds...
Almost 100,000 bitcoin transactions are currently stuck, waiting to move, with around $30,000 in fees queued for miners to pick up. The mempool backlog is above 56MB. The network is running above capacity, usually operating at more than 4 txs/s. Users are once more complaining. Price appears resilient and even going higher due to many other factors, primarily the much-anticipated ETF decision. As...
Smart contracts can automate many different kinds of processes and operations, the most obvious being payment and actions conditional on payment. But the capabilities extend to many business and organizational activities. A white paper [PDF] by the Chamber of Digital Commerce with the support of the Smart Contracts Alliance presents 12 use cases of contracts for business and beyond. Nick Szabo in...
Nick Szabo, a cryptographer who worked on an early bitcoin prototype, played a key role in developing smart contracts and has been suspected of being Satoshi Nakamoto, is now raising money for a bitcoin/blockchain startup, according to Quartz. Szabo is trying to raise $3 million, according to unnamed sources and a pitch deck that Quartz reviewed. One source said Fenbushi Capital, a China-based...
The latest individual, or in this case, pair of individuals suspected of being Bitcoin creator Satoshi Nakamoto, has denied accusations. Pawel Pszona, a Polish programmer was believed by username BountyHunter2012 to be Satoshi Nakamoto. Pszona published a Master’s thesis paper in 2007 as a student with the help of his professor Dr. Grzegorz Stachowiak titled “Unlinkable Divisible Digital Cash...
Will blockchains that various financial institutions are investing in nowadays create “smart contracts” that perform financial services without the inefficiency or risk of intervention created by an intermediary counterparty agent? Smart contract technology, like bitcoin, can circumvent regulatory infrastructures, which could reduce costs for financial transactions. An important feature of a...
Nick Szabo, who designed an early Bitcoin-like digital currency called "bit gold," made an appearance on Thursday at the D Hotel & Casino in Las Vegas, Nevada for the Bitcoin Investor Conference 2015. Szabo, in his speech, made it clear he understands the uncertainty in the price of Bitcoin. That’s why he wants to bring the power of Bitcoin and the block chain to the world of traditional...
Readers of CCN may be wondering what's been going on with Ethereum, the much-hyped project of Vitalik Buterin which aims to take smart contracts, block chains, and cryptocurrency to the next level. The project has recently received multiple endorsements by Nick Szabo, a long-time cipherpunk who many consider to be the most likely candidate for Satoshi Nakamoto. Szabo spoke highly of Ethereum on...
Bytecoin (BCN) has issued a new release that its team claims takes the CyrptoNote-based currency closer to its mission. Which is to develop a financial system that provides the same functions as existing financial systems at less cost for users. The new release includes an updated Bytecoin wallet, pool mining, and an added solution for real-time transactions, ensuring that most transactions will...
Like the search for the Lock Ness Monster or Bigfoot, the hunt for Satoshi Nakamoto may never have a happy ending. A revolutionary invention that may yet change how the entire world does business, but without a known inventor will forever create rampant speculation, conspiracy theorists, and basic human curiosity. It seems to have certainly captured the imagination of British author Dominic...
Nick Szabo is a legal scholar and cryptographer, and although he has categorically denied it, some believe him to be Satoshi Nakamoto, the creator of Bitcoin. Nick is the author of bitgold, which was the most complete conceptualization of a decentralized currency prior to Bitcoin. In November of 2013 Nick Szabo went dark and made his last known public communication for a long time. Seven months...
Bitcoin is booming, but not every enthusiast knows that the cryptocurrency has roots in a radical, futurist philosophy that started to bloom in the California of the 80s. Hal Finney, a Bitcoin pioneer and the first person to ever receive a Bitcoin transaction, was cryonically preserved by the Alcor Life Extension Foundation on August 28, 2014. Please don't say to Hal friends that he "passed away"...
With the end of the week already here, it means it's time for another Bitcoin News in Review, where we feature some of our top stories here on CryptoCoins News. This week, we learned the results of the Silk Road bitcoin auction, saw interesting trends in the price of BTC, saw the author of bit gold break his long silence, and more. Check out this Bitcoin News in Review after the break...
Nick Szabo, the author of bitgold, the most complete conceptualization of a decentralized currency prior to bitcoin, the person who coined the term smart contracts in 1993, and believed by many to be Satoshi himself, published a one line blog post today which simply contained a link to his twitter account. The last known public communication from Nick Szabo was in November 2013, almost seven...
What is the deal with knowing who the person behind a pseudonym is? A secret is only exciting when it remains a secret, so why don't we keep it that way? I think we can all agree that this is just human nature. A month after Newsweek claimed to have found Satoshi Nakamoto, now a new theory has popped up. The approach is a bit more 'scientific' this time, but the end claim that Satoshi Nakamoto is...