Mastercard Seeks 'Fast Track' Way to Sync Blockchain Data
Payments giant Mastercard wants to patent a way to quickly add new nodes to a blockchain network, new filings reveal.
In a patent application published Thursday by the U.S. Patent and Trademark Office, the company outlines a method by which nodes can connect with and verify the contents of a particular blockchain. Per Mastercard, the idea is to boost the speed at which the nodes - which store a copy of that network's transaction history - can get up to date.
Payments giant Mastercard wants to patent a way to quickly add new nodes to a blockchain network, new filings reveal.
In a patent application published Thursday by the U.S. Patent and Trademark Office, the company outlines a method by which nodes can connect with and verify the contents of a particular blockchain. Per Mastercard, the idea is to boost the speed at which the nodes - which store a copy of that network's transaction history - can get up to date.
ANZ and IBM Building Blockchain Solution for Insurance Industry
Working with tech giant IBM and financial services firm Suncorp New Zealand, the Australia and New Zealand Banking Group (ANZ) is building a blockchain-based platform aimed to ease the transfer of data and premium payments between brokers and insurers, ultimately making processes faster and more transparent.
"This technology will work with existing industry solutions to capture relevant information; ensuring payments can be forecast and made without the need for reconciliation."
Working with tech giant IBM and financial services firm Suncorp New Zealand, the Australia and New Zealand Banking Group (ANZ) is building a blockchain-based platform aimed to ease the transfer of data and premium payments between brokers and insurers, ultimately making processes faster and more transparent.
"This technology will work with existing industry solutions to capture relevant information; ensuring payments can be forecast and made without the need for reconciliation."
🎓 The US Federal Trade Commission (FTC) will be holding a free workshop this summer titled “Decrypting Cryptocurrency Scams”.
The workshop’s main aim is to educate the public about risks in the crypto sphere. The FTC’s press release notes that while interest in crypto has increased this year, so have scams.
The free June 25 workshop will be held at DePaul University in Chicago, and the event will also be available over a webcast.
The workshop’s main aim is to educate the public about risks in the crypto sphere. The FTC’s press release notes that while interest in crypto has increased this year, so have scams.
The free June 25 workshop will be held at DePaul University in Chicago, and the event will also be available over a webcast.
Australia’s Biggest Stock Exchange Targets Blockchain Integration in 2020
The Australian Securities Exchange (ASX) has said it will implement a blockchain-based post-trade system from as early as Q4 2020, replacing the current Clearing House Electronic Subregister System (CHESS) system. New York-based fintech company, Digital Asset is building DLT products, is the main technical partner for the initiative.
The Australian Securities Exchange (ASX) has said it will implement a blockchain-based post-trade system from as early as Q4 2020, replacing the current Clearing House Electronic Subregister System (CHESS) system. New York-based fintech company, Digital Asset is building DLT products, is the main technical partner for the initiative.
📰 Ripple's Enterprise Blockchain Network Adds a New Member
BankDhofar, an Oman-based financial investment management company, has joined RippleNet, a move the bank says enables it to provide global cross-border payments using Ripple's blockchain technology.
Dr. Tariq Taha, chief information officer at BankDhofar, commented:
"With this, we can provide instant, frictionless and secure cross border money transfers within seconds, with end-to-end visibility over the journey of the payment."
BankDhofar, an Oman-based financial investment management company, has joined RippleNet, a move the bank says enables it to provide global cross-border payments using Ripple's blockchain technology.
Dr. Tariq Taha, chief information officer at BankDhofar, commented:
"With this, we can provide instant, frictionless and secure cross border money transfers within seconds, with end-to-end visibility over the journey of the payment."
Ethereum creator Vitalik Buterin has announced that Sharding, a much awaited scaling solution for the Ethereum blockchain protocol, is coming.
What is Sharding?
In essence, Sharding is a solution that optimizes the process of verifying transactions and smart contracts by splitting the blockchain network into partitions called shards. Instead of having every single node go through the entire transaction history of the Ethereum blockchain network, Sharding allows certain nodes to be assigned to certain shards, optimizing the process of nodes verifying transactions.
What is Sharding?
In essence, Sharding is a solution that optimizes the process of verifying transactions and smart contracts by splitting the blockchain network into partitions called shards. Instead of having every single node go through the entire transaction history of the Ethereum blockchain network, Sharding allows certain nodes to be assigned to certain shards, optimizing the process of nodes verifying transactions.
#Ripple
OUTLOOK: Awaits bull breakout
Diamond continuation pattern is seen in 4hr chart. Upside break will open the doors to $1.00.
A downside break would allow a pullback to $0.72-0.70.
OUTLOOK: Awaits bull breakout
Diamond continuation pattern is seen in 4hr chart. Upside break will open the doors to $1.00.
A downside break would allow a pullback to $0.72-0.70.
#BTC
OUTLOOK: Bullish
Bears have repeatedly failed to push BTC below $8,800 despite last Wed's bearish outside-day candle.
So, a bull pennant breakout (4-hour chart) is likely and could yield rally to 200DMA located at $9,975.
OUTLOOK: Bullish
Bears have repeatedly failed to push BTC below $8,800 despite last Wed's bearish outside-day candle.
So, a bull pennant breakout (4-hour chart) is likely and could yield rally to 200DMA located at $9,975.
Ethereum Price Will Reach $15,000 This Year: Reddit Co-founder
Reddit co-founder Alexis Ohanian said that he predicts the ethereum price will reach $15,000 in 2018, rocketing its market cap into the trillions of dollars and enabling it to surpass bitcoin as the world’s largest cryptocurrency. He believes this project has more long-term potential than any other currently-existent cryptocurrency.
“I still hold a little bit of Bitcoin, and I think it has such mindshare that it will continue to be a store of value. I’m most bullish about Ethereum simply because people are actually building on it.”
Reddit co-founder Alexis Ohanian said that he predicts the ethereum price will reach $15,000 in 2018, rocketing its market cap into the trillions of dollars and enabling it to surpass bitcoin as the world’s largest cryptocurrency. He believes this project has more long-term potential than any other currently-existent cryptocurrency.
“I still hold a little bit of Bitcoin, and I think it has such mindshare that it will continue to be a store of value. I’m most bullish about Ethereum simply because people are actually building on it.”
Goldman Sachs to Begin Bitcoin Futures Trading Within Weeks
Investment banking giant Goldman Sachs will use its own money to trade bitcoin futures on behalf of its clients, according to the New York Times.
Goldman is also set to "create its own, more flexible version of a future, known as a non-deliverable forward, which it will offer to clients."
Goldman executive Rana Yared said the decision resulted from a growing number of inquiries from clients that indicated interest in holding bitcoin as an alternative asset.
Investment banking giant Goldman Sachs will use its own money to trade bitcoin futures on behalf of its clients, according to the New York Times.
Goldman is also set to "create its own, more flexible version of a future, known as a non-deliverable forward, which it will offer to clients."
Goldman executive Rana Yared said the decision resulted from a growing number of inquiries from clients that indicated interest in holding bitcoin as an alternative asset.
#BTC
OUTLOOK: Neutral
4hr chart: BTC bull breakout remains elusive despite the upside break on the RSI. So, immediate outlook turns neutral/cautious.
Violation of trading range to set the tone for the next move.
bull break could yield $10K.
OUTLOOK: Neutral
4hr chart: BTC bull breakout remains elusive despite the upside break on the RSI. So, immediate outlook turns neutral/cautious.
Violation of trading range to set the tone for the next move.
bull break could yield $10K.
Reddit Aims to Relaunch Bitcoin Payments with ETH and LTC Too
Social media platform Reddit is planning to reinstate cryptocurrency as a payment option for its gold members - and this time bitcoin won't be the only option.
The site's chief technology officer, Chris Slowe, said that, while bitcoin's spiking transaction fees and an integration issue with its cryptocurrency payments processor Coinbase had led to Reddit dropping bitcoin as a payment method in March, the option is likely to return once the platform has completed a redesign.
Social media platform Reddit is planning to reinstate cryptocurrency as a payment option for its gold members - and this time bitcoin won't be the only option.
The site's chief technology officer, Chris Slowe, said that, while bitcoin's spiking transaction fees and an integration issue with its cryptocurrency payments processor Coinbase had led to Reddit dropping bitcoin as a payment method in March, the option is likely to return once the platform has completed a redesign.
While this month may traditionally give equity bulls cold feet, it should probably not be a cause of worry for the bitcoin market.
Historical data suggests that bitcoin is more likely to build upon its April rally this month.
Notably, the world's largest cryptocurrency by market capitalization has scored gains in the month of May in five out of the last seven years.
Clearly, history is on the bulls' side. Further, the seasonality analysis only adds credence to the bullish set up as seen in the bitcoin chart below.
Historical data suggests that bitcoin is more likely to build upon its April rally this month.
Notably, the world's largest cryptocurrency by market capitalization has scored gains in the month of May in five out of the last seven years.
Clearly, history is on the bulls' side. Further, the seasonality analysis only adds credence to the bullish set up as seen in the bitcoin chart below.
The bull pennant breakout could see the recent rally from the April low of $6,425 (Bitfinex price) extend to $10,000 or even higher.
The cryptocurrency has been restricted to a narrowing price range for more than a week and has spent a better part of the last 12 hours trading between $9,150 and $9,300.
As the technical theory has it, the longer the duration of the consolidation zone, the more violent the breakout tends to be. So, BTC could move well above the $10,000 mark in an hour or two post-breakout, if the bulls gain the upper hand.
On the other hand, a downside break would open the doors to $8,490 (38.2% Fibonacci retracement of the rally from $6,425 to $9,767.4).
Only a daily close below $7,823 (April 17 low) would signal a bear revival.
The cryptocurrency has been restricted to a narrowing price range for more than a week and has spent a better part of the last 12 hours trading between $9,150 and $9,300.
As the technical theory has it, the longer the duration of the consolidation zone, the more violent the breakout tends to be. So, BTC could move well above the $10,000 mark in an hour or two post-breakout, if the bulls gain the upper hand.
On the other hand, a downside break would open the doors to $8,490 (38.2% Fibonacci retracement of the rally from $6,425 to $9,767.4).
Only a daily close below $7,823 (April 17 low) would signal a bear revival.
Looks like upside break of the pennant pattern is a done deal. #BTC is now trading above $9,400
Ethiopian Gov’t Signs Agreement With Cardano To Introduce Blockchain In Agritech
The Ethiopian government has recently signed a memorandum of understanding (MOU) with cryptocurrency startup Cardano (ADA). The agreement will see Ethiopian developers apply blockchain technology to the country’s agritech industry.
CEO and founder of Cardano Charles Hoskinson confirmed the move in a tweet. Hoskinson stated that the agreement with the Ethiopian Ministry of Science and Technology includes training local developers to use blockchain technology.
The Ethiopian government has recently signed a memorandum of understanding (MOU) with cryptocurrency startup Cardano (ADA). The agreement will see Ethiopian developers apply blockchain technology to the country’s agritech industry.
CEO and founder of Cardano Charles Hoskinson confirmed the move in a tweet. Hoskinson stated that the agreement with the Ethiopian Ministry of Science and Technology includes training local developers to use blockchain technology.