Ethereum: Constantinople Hard Fork to come in January

Updates at Ethereum: The Hard Fork Constantinople, which has already been postponed several times, will be released in January 2019. This was confirmed by parts of the Ethereum development team at the Ethereum Core Developer Conference on December 7th.

Ethereum Core Devs Meeting Bitcoin trader

With Constantinople, the transition from the controversial Proof-of-Work process to the Proof-of-Stake process is within reach. This is mainly intended to increase the efficiency of the Bitcoin trader network in reaching a consensus. In this context, the Bitcoin trader also want to prevent mining devices, such as those increasingly used at Bitcoin, from being used in the Ethereum environment.

Ethereum course continues in the bear paws of the crypto trader

Meanwhile, the crypto trader exchange rate is still below the US$ 100 mark. Within the last 24 hours it has risen by a modest 1.4 percent. In the 7-day review, however, it is still just under 17 percent that the Ethereum exchange rate had to concede. Thus it is at present 93 US Dollar. The news situation here sometimes seems to correlate only marginally, if at all, with the price development. Apart from the current further developments of the technology, there was only recently another big announcement in the crypto trader environment. For example, the University of Basel named Ethereum inventor Vitalik Buterin a doctor just ten days ago. Accordingly, he became – on behalf of many in cryptospace – the first official cryptodoctor.

Third place or not: Ethereum is one of the blockchain projects that is bravely developing despite the bear market and the winter mood. The crypto currency, which added smart contracts to the Bitcoin universe and paved the way for ICOs with the ERC20 tokens, now aims to bring another turning point in the history of Ethereum into the ecosystem with Block 7,080,000. From then on, it will be possible for users to decide to work with Constantinople. As soon as the block has been excavated for the first time, the upgrade will also become active. According to one of the developers, this should be the case between 14 and 18 January, as he confirmed at Ethereum Core Developer Meeting #51. Here’s the whole video:

Abu Dhabi: Oil on the Blockchain

The national oil company Abu Dhabi wants to handle the supply chain for its oil production on a blockchain in the future. The Abu Dhabi National Oil Company (ADNOC) is cooperating with technology giant IBM on the project.

Bitcoin news: The management of supply chains via blockchain is one of the major applications of the technology

One advantage of implementing a blockchain system in supply chain management is improved transparency at the various stages of the value chain according to the Bitcoin news. As onlinebetrug announced in a press release on 9 December, the national oil company Abu Dhabi now wants to take advantage of these benefits. The pilot phase is currently underway “towards a comprehensive blockchain platform that automatically tracks, validates and executes transactions at every stage of the supply chain from production to the end customer”.

According to ADNOC, the use of the platform is intended in particular to ensure smoother processes between the various suppliers. Precisely formulated, this means that the supply chain should become more efficient, faster and more transparent through the block chain.

What does this mean in concrete terms? According to the press release, the blockchain platform should ensure that billing processes between suppliers run automatically. This means that the oil producers first feed the blockchain with data such as the quantity and price of the oil produced. This information, in turn, helps the subsequent stages of the value chain, such as refineries, to adapt their production processes at an early stage.

If the test phase turns out to be successful, ADNOC intends to gradually extend its service to end customers as well. They would then be able to trace the origin and added value of every drop of oil. According to the oil company, this “increases the transparency and ultimately the attractiveness of the ADNOC Group as a business partner”.

Bitcoin formula presentation at oil conference

ADNOC first presented the major Bitcoin formula project at the World Energy Capital Assembly held in London on 3 and 4 December. Presenting the Bitcoin formula progress made at the conference, Project Manager Abdul Nasser Al Mughairbi said:

“Blockchain is a game changer. It will significantly reduce our operating costs by eliminating time-consuming and labour-intensive processes”.

As blockchains are better known for being rather cumbersome databases, the oil company’s approach to making the platform more efficient is surprising. With IBM, ADNOC has a partner who is a pioneer in blockchain adaptation in the industry.

So once again we have to wait and see.

IOTA plans gradual abolition of coordinator

IOTA, the DLT platform with focus on the Internet of Things (IoT), wants to get rid of its centralistic legacy, the “coordinator”. For this purpose, the Berlin-based IOTA Foundation has assembled a special team to initiate steps for the “Coordicide”, the death of the coordinator. The organisation has now explained on its blog what these steps look like.

Bitcoin profit is certainly one of the buzz words of the (expiring) year

The decentralized, public and unchangeable Bitcoin profit transaction history was made prominent by the Bitcoin protocol. In addition to blockchain technology, there are numerous other ways of decentralized accounting which is not a scam according to onlinebetrug. The term Distributed Ledger Technology (DLT) thus encompasses much more than just the blockchain. One of the best known blockchain alternatives is IOTA’s “Tangle”.

Unlike the blockchain à la Bitcoin, the Tangle has no miners and therefore no transaction fees. If you want to carry out a transaction in the tangle, you must confirm at least two previous transactions before the transaction itself becomes part of the tangle. Unlike a blockchain, transactions are not grouped into blocks and chained together in a row. Instead, each transaction becomes part of a Directed Acyclic Graph (DAG) of the tangles. New, unconfirmed transactions become “tips” of this graph until they are confirmed by subsequent transactions. A nice visualization of this tangle can be found here, for example.

Overall, the consensus procedure for IOTA’s tangle is much slimmer and more scalable than for a blockchain. However, the system only works if the number of “honest” transactions is significantly higher than the number of transactions carried out by malicious actors. The more participants the network has, it is assumed, the greater the number of honest transactions. Conversely, this means that a young network with relatively few participants becomes more vulnerable to attacks.

The role of the “coordinator” in the Bitcoin profit

In order to protect the Tangle in its early attacks, IOTA uses the so-called “coordinator” (also called “Coo”) to check: https://www.forexaktuell.com/en/bitcoin-profit-scam/ The Coo is a special node operated by the IOTA Foundation. It publishes zero-value Bitcoin profit transactions at regular intervals that fulfill a checkpoint function for the tangle. These transactions, also called “milestones”, determine the direction in which the tangle is spun. A transaction is only valid if the coordinator confirms it directly or indirectly with a “milestone”.

In the crypto scene, the use of the coordinator often meets with criticism, as it basically gives the IOTA Foundation the last word on the status quo of the network. Although the Foundation cannot retroactively invalidate transactions, it could de facto freeze deposits from participants in the network where the coordinator does not take their transactions into account when publishing new milestones. In addition, an attack on the coordinator could paralyze the whole tangle. Last but not least, the use of the coordinator limits the scalability of IOTA, which is actually one of the protocol’s greatest strengths.

Blocknet prepares for the launch of the product Blockchain

As a significant step towards the launch of the decentralized exchange, Blocknet (blocknet.co) is ready to end its temporary wallet and launch the service that serves the intrinsic value of its tokens.

Since the ICO in October 2014, the temporary wallet has served to secure its own tokens until the launch of the first intermediate blockchain application. The main focus in the development was on the application as a decentralized exchange: the start of the final blockchain is now the next step towards the application as a decentralized exchange, which offers the user the same functions as a central exchange, but with full data protection, freedom and the security to keep control over one’s own values.

With the successful testing of more and more trades on the decentralized exchange – now already with Bitcoin, Litecoin, Dash, Syscoin, Digibyte, Vertcoin, Duality Solutions, Viacoin, and Bitbay – Blocknet is now ready to close the preliminary wallet and create the basis for the emerging token ecosystems, with the core services of the decentralized exchange, control of blockchains and data exchange between different independent blockchains.

What is the business model of a Bitcoin formula?

Every service between the Bitcoin formula requires an impeccable cryptoeconomic architecture to ensure security and to guarantee the maintenance of the value of its network; but to be decentralized it is necessary to create a system without acting as an intermediary. This becomes very clear in the case of the use of Bitcoin formula as a decentralized exchange, which explicitly aims to exclude intermediaries or traders from trading tokens. Blocknet’s solution not only aims at creating the value of the own protocol for tokens, but also at the representation and pairing of the orders, while the user manages all the time his coins/tokens on his own system on his own responsibility. The key to this is called service node (in the following technical term service node).

Start of the Bitcoin trader Service

Service nodes receive trading fees on the decentralized exchange without having any control over the Bitcoin trader coins and without mediating between buyer and seller. They ensure the quality of the application on the decentralized exchange (Quality of Service, QoS), mainly by preventing unwanted spam requests – the structure will be explained in more detail in the soon to be published White Paper. In return, service nodes receive trading fees in the form of Blocknet tokens, which also increases the intrinsic value of the Blocknet tokens, mainly because each Bitcoin trader on the exchange generates buying pressure on its own tokens through a continuous stream of micropayments. With the launch of the Blocknet product blockchain, the technology of the service nodes will also move from the test network to it, enabling for the first time those wishing to offer such a service node to earn balancing fees. The development of the service nodes is not finished with the start on the main blockchain. Your development will be further developed as with any good software.

Strategic Advantages
The start of the final blockchain offers several strategic advantages. First of all, it serves to switch the code base to one that is properly branched with the Bitcoin core, significantly simplifying the implementation of BIP´s (Bitcoin Improvement Suggestions), which leads to an improvement in development time.

Bitcoin news all-time high: Ether breaks 100 US Dollar mark

This week is also proving very successful for the second largest digital currency, ether. In the morning hours between 3 and 4 o’clock the ether even reached a value of 106 US dollars.

The Bitcoin news of digital currencies

Probably more people know Bitcoin news, but Ethereum should be familiar to most people by now. Ethereum’s token is called Ether, ETH for short. Ethereum is a decentralized blockchain on which smart contracts can be executed. These Smart Contracts are decentralized programs and cover everything we somehow associate with the future: decentralized autonomous organizations (DAO), decentralized management of entire cities, new coins (indeed, Ethereum is also the basis for creating new coins on them) and much more Bitcoin news … As we can see, 7 of the Top 10 CryptoAssets are on the Ethereum platform. Anyone can design their own digital currency, with Ethereum it will work like child’s play in the future.

Share price development
The price of ether fluctuated within the last year. After its launch, the price was below USD 1. After rising awareness, the price exploded in January and February 2016 and reached a value of 13 US dollars within this period.

In the summer of 2016, the DAO disaster occurred. A platform built on Ethereum, The DAO, contained bugs that allowed a hacker to extract funds from the DAO. The disaster led to the split of Ethereum ETH and Ethereum Classic ETC. After a long and quiet year, the Ether Prize hardly developed – until recently.

The increasing popularity through the series “Silicon Valley” and lectures at universities led to a renewed increase for the top 2 crypto currency.

Ether was traded on Polonix in the last 24 hours for 122 million US dollars. Prices of up to $106 are said to have been reached on Bithone and Coinone, which in turn had a trading volume of $65 million and $34 million respectively.

Bitcoin news Lecture in Toronto, Canada

In addition to the Bitcoin news, Ethereum now gets an Ethereum Domain System (ENS). We use Domain Name System without noticing it in everyday life. None of us enter Google’s IP address into the URL search bar, instead we write “www.google.de” – an enormous relief.

Exactly this relief is now introduced in Ethereum by the ENS. Complicated and long addresses can be abbreviated by short names like “alice.wallet.eth”.

BTC-ECHO also asked Ethereum developer Fabian Vogelsteller at CeBIT about the new Ethereum upgrade. Ethereum itself has drawn up a plan. This plan consists of its own phases, the first two of which have already been implemented (Frontier and Homestead). It is expected that the next step will not be too long in coming.

At editorial time, the Ether price is 99.89 US dollar/ether.

Bitcoin – Competition to the Dollar?

But it was not an advertising event by Blockstack: in addition to developers who used this platform, representatives of the Democracy Earth Foundation and Union Square Ventures were also on hand. Of particular interest was what Santiago Siri had to say to the Democracy Earth Foundation on the subject of “money”: he explained that the US dollar is not in itself a fiat currency, but is now tied to oil. Since this has been the case since 1974, he believes that the US has a hand in the energy market.

Here, in my opinion, he has quite originally reversed a criticism against Bitcoin that is currently frequently voiced: Just as the US dollar is tied to oil, Bitcoin can also be regarded as covered by energy – strictly speaking, thanks to transparency, much more, since the link between Bitcoin mining and energy is well known. Therefore Bitcoin is, in his view, a direct competitor to the currencies linked to oil, such as the US dollar or, more recently, petroleum.

This is also the reason for the attacks on Bitcoin

Albert Wenger of Union Square Ventures has given some food for thought on the subject of “privacy”. He began with the provocative thesis that privacy is not a value in itself, but part of the solution. The Cypherpunk in the listener was of course irritated, but his thought was not bad per se. He showed that privacy brings with it various challenges: First and foremost, privacy alone does not protect against deep fake. Nowadays, it is easy to fake photos that, for example, fake compromising situations with which people could be blackmailed. If someone could prove an alibi beyond doubt, such blackmail scenarios would be out of the question – at the expense of privacy.

His approach is not “anti-anonymity”, he simply states that privacy is not a value in itself, but one of the many pieces of the puzzle that brings freedom.

Nick Szabo and Edward Snowden on society and privacy

With these remarks Albert Wenger did not want to turn against the two most famous speakers: With Nick Szabo and Edward Snowden, two giants of the Blockchain and Digital Rights movement were present. In the case of Edward Snowden, this was of course only a virtual presence via Google Hangout.

Nick Szabo, inventor of the concept of smart contracts and one of the supposed Satoshi Nakamoto’s, presented the dilemma of social scalability in his lecture. On the one hand, man, or life in general, strives for larger communities, larger networks or ecosystems. On the other hand, communism showed very well that societies and trust scale badly. But what can scale is money. Cowrie snails show that this has been the case for centuries. Money as a medium of exchange can reduce the need for trust in large societies or when they interact with each other. On a worldwide level, the blockchain is therefore an effective means of establishing a larger society.

But the blockchain also faces challenges: Just as money, when it becomes a medium of regulation, is less suitable as a medium of exchange, a block chain in which governance makes too many decisions loses trustlessness. Specifically, he addressed the rollbacks (i.e. changes in the blockchain) and the EIP 867 of Ethereum, i.e. the fundamental possibility of reversing transactions, as was done, for example, after the DAO exploit.

Edward Snowden was connected for an interview from Russia via Google Hangout. He presented the big problem in the regular Internet: All transactions, even if they are encrypted, leave fingerprints. If it is known that I regularly send money to a certain person, it is secondary what the reason for the payment is. Observers from outside then know that there is a connection here. Via e-mails, chat logs, Facebook and Google, networks can be constructed from relationships that give NSA employees or Google employees enough information about the individual. According to Snowden, projects like Tor or ZCash can do a lot to protect one’s own privacy.

Even though Edward Snowden finds the concept behind ZCash very convincing, he still speaks out against maximalism regarding crypto currencies. Maximalism was presented by another speaker very suitably as nationalism in the crypto ecosystem. It is about the focus of individual groups on a crypto currency – be it the focus on Bitcoin alone, be it the dream of flipping or something similar. This kind of maximalism contradicts