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The Ultimate Beginner’s Guide About Blockchain Wallet, Mining, Bitcoin, Ethereum, Litecoin, Zcash, Monero, Ripple, Dash, IOTA And Smart Contracts

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(Solo) Forget BITCOIN MINING, Try Masternoding EARNING at CrypNode – 150% GUARANTEED EARNINGS!!

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#Blockchain Block Propagation Startup Bloxroute Partners With Mining Operation Rawpool

#Blockchain Block Propagation Startup Bloxroute Partners With Mining Operation Rawpool

#Blockchain Block Propagation Startup Bloxroute Partners With Mining Operation Rawpool Posted on by Startup365
On Thursday, Bloxroute Labs announced a partnership with the China-based mining operation Rawpool Group and global video communication software firm Yeecall. Both Rawpool and Yeecall plan to be the first cryptocurrency businesses to adopt Bloxroute’s product, dubbed the Blockchain Distribution Network version one.
Also Read: Nick Szabo: Central Banks May Turn to Cryptocurrency Reserves Over Gold Bloxroute Labs Gathers Two Partners
Bloxroute is a company that claims it can provide blockchain networks with better efficiency by propagating blocks in a neutral manner. According to the Bloxroute whitepaper, the Blockchain Distribution Network (BDN) cannot favor specific nodes. Bloxroute claims the BDN deployment will enable participating nodes to maintain consensus by remaining provably neutral even when mining thousands of onchain transactions per second. On Jan. 10, the company announced it has partnered with the Chinese organization Rawpool Group and the developers of Yee Chain in order to begin node deployment in February. According to the announcement, the Bloxroute API will support both Ethereum and Bitcoin gateways.
“Rawpool and Yee Chain will be among the first adopters of the Bloxroute BDN version one available for deployment in Q1 and will participate in the first testing of the Bloxroute BDN scheduled for February,” explained Bloxroute Labs. “This test will be followed by a large-scale test in March that will include many miners and users.” ‘Faster Than Any Other Peer’
When version one of the Bloxroute BDN releases, the product will be a fully operational network with 15 nodes across five continents, the startup detailed. Further, the development team hopes to continue scaling and deploy 30-50 nodes by Q3 2019. The company believes the BDN tests in March will attract more mining pools. Bloxroute claims the company’s product is the “only layer zero scalability solution that solves the scalability problem at its core.” The software’s whitepaper asserts that mass use of the BDN network will provide network participants with the ability to propagate blocks and receive transactions “faster than any other peer.” During the announcement on Thursday, the startup explained that the mining operation Rawpool will see similar results.
“This partnership is not only a large step towards scaling blockchains but also will allow Rawpool to immediately hear about and send blocks faster,” Bloxroute stated. Bloxroute’s New Partners Are BCH Friendly
Bloxroute’s product will be usable by any single node and does not require majority adoption. The whitepaper claims the protocol that runs underneath the consensus layer could allow for 33 transactions per second (TPS) in contrast to Bitcoin Core’s 3 TPS. The BDN might be best suited for Bitcoin Cash (BCH) miners as Bloxroute does not require any fees or any protocol change except for increasing the block size parameter. Further, last September Rawpool was the largest BCH mining pool, and in an interview at the time, founder and chief executive of Rawpool Group David Li emphasized that he liked testing large blocks. Last year, on Sept. 11, Rawpool also published an objective evaluation of the original topological transaction ordering rule (TTOR) and canonical transaction ordering (CTOR). Yee Chain has also been friendly toward the BCH ecosystem when its Yee Wallet product developers partnered with the Bitcoin Cash Association and airdropped small fractions of BCH to its users.
What do you think about Bloxroute’s partnership with the mining operation Rawpool and Yee Chain? Let us know what you think about this subject in the comments section below.
Images credits: Shutterstock, Bloxroute, Rawpool, and Pixabay.
The Bitcoin universe is vast. So is Bitcoin.com. Check our Wiki , where you can learn everything you were afraid to ask. Or read our news coverage to stay up to date on the latest. Or delve into statistics on our helpful tools page.
The post Block Propagation Startup Bloxroute Partners With Mining Operation Rawpool appeared first on Bitcoin News .
from Bitcoin News http://bit.ly/2D3vAYg Block Propagation Startup Bloxroute Partners With Mining Operation Rawpool This entry was posted in Blockchain News and tagged Bitcoin News , Block Propagation Startup Bloxroute Partners With Mining Operation Rawpool by Startup365 . Bookmark the permalink . About Startup365 Chaque jour nous vous présenterons une nouvelle Startup française ! Notre pays regorge de talents et d’entrepreneurs brillants ! Alors partons à la découverte des meilleures startup françaises ! Certaines d’entre elles sont dans une étape essentielle dans la vie d’une startup : la recherche de financement, notamment par le financement participatif (ou crowdfunding en anglais). Alors participez à cette grande aventure en leur faisant une petite donation ! Les startups françaises ont besoin de vous !

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Here’s Why 51% Attacks Don’t Affect Price

Here’s Why 51% Attacks Don’t Affect Price

Here’s Why 51% Attacks Don’t Affect Price January 11, 2019
51% attacks are catastrophic in the cryptocurrency world–or are they? 51% attacks may be a little bit scary but here’s why they don’t affect price. The Ethereum Classic 51% Attack
Ethereum Classic , one of the most popular altcoins by market cap, just succumbed to a 51% attack. A situation in which one mining entity gained control of over half the network’s hash rate caused double spending of thousands of ETC on several exchanges including Bitrue, Gate.io, and, most notably, Coinbase.
Coinbase posted on its Twitter account that the exchange had detected the attack on January 5 and temporarily paused movements: On 1/5/2019, Coinbase detected a deep chain reorganization of the Ethereum Classic blockchain that included a double spend. In order to protect customer funds, we immediately paused movements of these funds on the ETC blockchain. Read more here: https://t.co/vCx89dz44m
— Coinbase (@coinbase) January 7, 2019
However, a report by blockchain security firm Slowmist claimed that no one noticed the attack until the damage was done on January 7. This is when Slowmist says it warned both Coinbase and the ETC network. This appears to be confirmed below by Ethereum Classic. “Chinese blockchain security firm SlowMist sent out an alert that the Ethereum Classic (ETC) network might have been targeted by a 51% attack.”
Exclusive: One $ETC Private Pool Claimed over 51% Network Hashrate – Reported via @SlowMist_Team https://t.co/Bshi6OWCaJ
— Ethereum Classic (@eth_classic) January 7, 2019
Most of the damage was absorbed by Coinbase, reporting double spending of some 219,500 ETC totaling around $1.1 million. That kind of sucks for Coinbase.
But what about the havoc wreaked upon the ETC network? Actually, there wasn’t really any. Exchanges Are the Victims of 51% Attacks
Just days after the attack, it’s business as usual on the ETC network. The ETC coin 0 0 has bearly taken a hit and remains among the top 20 altcoins on CoinMarketCap. The price bearly even registered a drop.
According to blockchain analyst and assistant professor at Kings College London Patrick McCorry, ETC took “a bit of a hit” but recovered in a day, suggesting that 51% attacks can happen but traders remain unfazed. Fun fact about the 100-block reorg in Ethereum Classic.
None of the traders care about it. Look at the price – it took “a bit of a hit”, but its mostly recovered in a day.
Great lesson – you can attack a coin, perform a double-spend, and most traders won’t care. pic.twitter.com/j6mUcCSV37
— Patrick McCorry
Chief Strategy Officer at CoinShares and industry expert Meltem Demirors replied that ETC price was less sensitive to news and that its small community meant that attacks like these were less problematic. ETC price is less sensitive to news because:1. OGs got free option from 2016 ETH fork2. USD / BTC ETC buyers are speculators, if funds are SAFU, DGAF3. ETC community small compared to similar market cap crypto’s4. 5% locked in Grayscale trust, one way w no redemption https://t.co/OUHewkEFqZ
— Meltem Demirors (@Melt_Dem) January 10, 2019
So if Ethereum Classic wasn’t affected by the 51% attack, it appears that the exchanges were. This would suggest that exchanges are the real victims of 51% attacks since they have no way of having the funds reimbursed.
Cryptocurrency researcher Hasu wrote on his Twitter that exchanges lose the most from crypto’s most feared attacks:
Exchanges are the primary victim of 51% attacks. Exchanges don’t list cryptocurrencies for their immutability, but to make money and apparently, the R/R pays off for them. It’s *extremely* hard for a 51% attacker to target users who actually value immutability. A 51% Attack on Bitcoin Is Still Extremely Unlikely
Luckily for exchanges, traders, and networks, a 51% attack on the world’s biggest cryptocurrency is still extremely unlikely. It’s not impossible of course, but taking a look at the facts laid out by Bitstamp exchange on their Twitter today, the costs of performing a 51% attack on Bitcoin would far outweigh the benefits.
In fact, it would be “unrealistic” according to a recent study . The equipment costs alone would run into the billions of dollars. DID YOU KNOW: Hacking #Bitcoin with a 51% attack would require spending around $5.5M per day on electricity (if the cost of electricity is $0.05 per kWh). This is just the energy cost, the necessary equipment would cost billions. #WednesdayWisdom
— Bitstamp (@Bitstamp) January 9, 2019
So, it seems that exchanges like Coinbase can breathe easier when it comes to mega coins like Bitcoin. But the Ethereum Classic attack just goes to show that exchanges need to have stricter policies in place to protect them from double spends and 51% attacks on networks with smaller hash rates.
Oh, and perhaps running a node to verify network transactions would also help.
Do you agree that 51% attacks don’t affect price? Share your thoughts below!
Images courtesy of Shutterstock

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