Ripple continues to advance with American Express and more payment consortiums

Ripple has been experimenting during this year that it finishes an important growth in its purpose of being adopted by banking institutions so that they make their cross border payments more effectively and at very low costs. This reality continues to materialize with Ripple moving forward with American Express and more payment consortiums. Already in […]

La entrada Ripple continues to advance with American Express and more payment consortiums se publicó primero en Crypto Economy.

A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.

Blockchain 101 · Crytpo Currency Market
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Facebook Blockchain Arm Booms, Even Amid Crypto Bear Market

Just months ago, David Marcus, the former president of fintech giant Paypal, was appointed as the inaugural head of Facebook Blockchain, the social media giant’s first stab at so-called “internet 3.0” innovation. But since Marcus’ appointment, many have been puzzled, as Facebook’s blockchain division has seemingly disappeared off the face of Planet Earth. In a testament to this confusion, the Menlo Park-headquartered corporation has only fleeting referenced its newfangled branch, specifically through the incessant stream of Facebook job opportunities posted via LinkedIn.

Yet, an exclusive report from Cheddar, an up-and-coming business media outlet, has revealed that Facebook’s “small” blockchain consortium has been bolstering its defenses behind closed doors. Citing those familiar with the matter, the outlet’s Alex Heath and Tanaya Macheel explained that nearly 40 employees, which consist of blockchain developers and former members of Paypal’s top brass, now work within the walls of the little-known program. In the exposé piece from Cheddar, it was also divulged that two former key members pertinent to the Instagram project had jumped onto the blockchain bandwagon.

And the social media powerhouse doesn’t seem poised to pause its blockchain efforts, even in spite of the Bitcoin market rut. Facebook has reportedly shot representatives across the globe in a search for potential team members at crypto-centric events. Such efforts to find talent haven’t been deemed enough, however, as Facebook Blockchain’s staffing recruiters and chiefs have also reached out to leading cryptocurrency projects in an attempt to poach promising employees.

Related Reading: The Crypto Markets May be in a Rout, But the Blockchain Job Market is in Full Swing

Pomp Bets Facebook “Builds The Most Used” Crypto Product

But while Facebook evidently means business, not much is known about the blockchain spoke’s inner workings and long-term ambitions. Crypto industry commentators have speculated that Facebook could be seeking to put pertinent segments of its social media platform on (de)centralized ledger technology, while others have speculated that a digital identity platform is in development.

Still, at a private rendezvous hosted by Facebook, attendees purportedly told Cheddar that the firm has intentions to launch a “decentralized digital currency” that would be aimed at its expansive user base. And interestingly, while the latter plan sounds the most ambitious, multiple reports have nearly verified that a token could be in development at Facebook’s new department. Speaking on the matter of a cryptocurrency or digital asset backed by Facebook, explaining why such a venture is logical, Drew Hinkes of New York University told Cheddar:

“They have a massive installed user base… They probably are looking at China and seeing how popular mobile commerce has been there and wondering why we can’t do that.”

Regardless, no matter the form that Facebook’s first crypto or blockchain offering takes, many are sure that it could turn this industry right on its head. Morgan Creek Digital partner Anthony Pompliano, known across Twitter for his hate for banks, and advocacy for cryptocurrencies, recently “bet” that the American internet juggernaut will build the “most used product in crypto.”

Related Reading: Morgan Creek Digital Makes $1 Million “Buffett Bet 2.0” Crypto Wager

Although this shouldn’t be exactly surprising, especially considering Pompliano’s former role at Facebook and the firm’s global influence, his comments took many aback, as Facebook accentuates the hallmarks of centralization in the eyes of cynics.

Not The Only Corporate Player On The Blockchain Block

Facebook isn’t, by any means, the only multinational institution to further its foray into blockchain technologies. As reported by NewsBTC, Paypal, the widely-used payments network, recently begun an in-house initiative centered around company-branded crypto assets. This system, which some have jokingly dubbed “PaypalCoin,” allows employees to garner, trade, and exchanges tokens for rewards, dubbed “experiences,” that include martial arts classes with CEO of Paypal, Dan Schulman.

Although this system was likely made in good fun, the fact of the matter is that if Paypal finds value in cryptocurrencies, the firm may seriously consider rolling out products surrounding this asset class in due time.

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The post Facebook Blockchain Arm Booms, Even Amid Crypto Bear Market appeared first on NewsBTC.

Facebook Blockchain Arm Booms, Even Amid Crypto Bear Market

A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.

Blockchain 101 · Crytpo Currency Market
—————————————————
Trezor: Hardware Wallet
Binance: Exchange for Traders
Ledger Nano S: Hardware Wallet
Coinbase: Exchange for Investors
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Cardano [ADA] foundation elects new council members

The Cardano Foundation has taken further strides in getting its house in order as it elected a new chairperson and council members in the famous Swiss city of Zug. The new members include Nathan Kaiser, Manmeet Singh and Domino Burki. Nathan Kaiser fills in the chairman’s role Nathan Kaiser is Cardano’s replaces Pascal Schmid who […]

La entrada Cardano [ADA] foundation elects new council members se publicó primero en Crypto Economy.

A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.

Blockchain 101 · Crytpo Currency Market
—————————————————
Trezor: Hardware Wallet
Binance: Exchange for Traders
Ledger Nano S: Hardware Wallet
Coinbase: Exchange for Investors
CoinSwitch: Wallet-to-Wallet Exchange

Bitcoin Development Not Controlled by Anyone Says Crypto Veteran

No one controls the focal point for Bitcoin development, said Jameson Lopp in his latest blogpost.

The Bitcoin veteran, who has been a crucial part of crypto developments since the beginning, opened recently about how developers run the world’s biggest decentralized financial network without fragiling it. He also attempted to answer individuals and groups that criticize bitcoin core, a large group of software veterans, programmers and even newbies, for controlling the network’s present and future developments by taking unilateral decisions.

How Bitcoin Development Works

The central point throughout the Lopp’s post remained how Bitcoin Core reaches a consensus whether or not it would merge new code proposals into their GitHub repository. Lopp explained that while the core has “maintainer” accounts that have the ability to merge code into the master branch, their duty is more janitorial than authoritative. That said, the core picks maintainer for their provable contributions over a period of time.

Each maintainer holds a unique PGP key and only these encrypted jargons could commit merge codes to the current framework, he added. A malicious actor, in this case, could still use its administrative privileges to inject code into the GitHub repository without maintainer’s consent – through a Pull Request feature.

“While these keys are tied to known identities, it’s still not safe to assume that it will always be the case — a key could be compromised and we wouldn’t know unless the original key owner notified the other maintainers,” Lopp wrote. “As such, the commit keys do not provide perfect security either, they just make it more difficult for an attacker to inject arbitrary code.”

The code that has been verified using the PGP keys into the Bitcoin mainframe is prone to auditing. Developers, for instance, can run an integrity check, dubbed as verify-commits, on their machines.

“If the script completes successfully, it tells us that every line of code that has been changed since that point has passed through the Bitcoin Core development process and been “signed off” by someone with a maintainer key,” Lopp asserted.

Nevertheless, the cypherpunk recognized that the solution was not entirely a cure but a strong prevention tactic to keep the villains out of the core.

“Constant Vigilance,” he recommended while hoping that more developers reviewing bitcoin code could ensure its growth as any other open source project.

Testing Code Coverage

Bitcoin Core includes a specific integration test suite that runs against every pull request, coupled with an extended test suite that runs every night on master. Available to every developer on GitHub, the code, according to Lopp, can be tested openly by cloning the core’s GitHub repository. The same code coverage, meanwhile, can also be viewed at Marco Falke’s page.

That said, each developer can purposely break the code to test whether or not it is committable to the original framework.

“Ultimately, each node operator governs themselves by ensuring that no one else on the network is breaking the rules to which they agree,” said Lopp. “This security model is the foundation for Bitcoin’s bottom-up governance.”

The post Bitcoin Development Not Controlled by Anyone Says Crypto Veteran appeared first on NewsBTC.

Bitcoin Development Not Controlled by Anyone Says Crypto Veteran

A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.

Blockchain 101 · Crytpo Currency Market
—————————————————
Trezor: Hardware Wallet
Binance: Exchange for Traders
Ledger Nano S: Hardware Wallet
Coinbase: Exchange for Investors
CoinSwitch: Wallet-to-Wallet Exchange

Coinbase Review: Everything you need to know about the cryptocurrency trading platform

Since the arrival of bitcoin and cryptocurrencies, the exchanges of cryptocurrencies have become indispensable for users, in this article we bring you a review of Coinbase, one of the main platforms of the sector, where we will show you how it works and the utilities it offers. What is Coinbase? Coinbase is a platform for […]

La entrada Coinbase Review: Everything you need to know about the cryptocurrency trading platform se publicó primero en Crypto Economy.

A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.

Blockchain 101 · Crytpo Currency Market
—————————————————
Trezor: Hardware Wallet
Binance: Exchange for Traders
Ledger Nano S: Hardware Wallet
Coinbase: Exchange for Investors
CoinSwitch: Wallet-to-Wallet Exchange