Is Proof-of-Work a Major Problem for Bitcoin’s Future?

Bitcoin is a very energy-inefficient project as of right now. The proof-of-work aspect has been discussed many times over. It seems community members are now advocating to change this algorithm altogether. With mining centralization becoming a real problem, such a change is not necessarily a bad thing.

The Proof-of-Work Situation

Generating new Bitcoins requires dedicated hardware. This hardware is expensive and consumes a lot of energy. As such, we regularly see reports of how inefficient and wasteful Bitcoin mining really is. These discussions always cause friction among community members as well. Changing this situation will not happen overnight, though.

After all, the Bitcoin network is secure thanks to proof-of work. Without this solution in place, the network is open to hackers and other attacks. At the same time, the mining aspect of Bitcoin is not decentralized by any means. Unlike what some people think, a lot of the mining activity is centralized in many ways.

In terms of hardware manufacturers, there is only one company that matters. Bitmain makes a healthy profit due to Bitcoin’s proof-of-work algorithm. It is expected the company made over $3bn in operating profits throughout 2017. That is quite a steep amount, but not entirely unexpected. The Chinese company has a monopoly on the market as of right now.

Changing the Way Bitcoin Works

Bringing more decentralization to Bitcoin is not easy. As long as the reliance on proof-of-work remains in place, centralization will remain a pressing threat. As the network becomes “bigger’, finding a solution becomes even more difficult. If this trend continues, China will control Bitcoin in every way one can imagine. It controls the hashrate, the mining hardware production, and most mining pools as well. Not an ideal situation for a decentralized currency whatsoever.

The bigger question is what we can do from here on out. A recent Medium blog post by Cobra, co-owner of bitcoin.org and BitcoinTalk,  touches upon all of the aforementioned problems and more. Switching from Proof-of-work to something else is not a logical evolution. However, sticking with the current PoW-oriented Bitcoin could eventually cause more problems, friction, and centralization. Bitcoin Core developers will have to come up with a creative solution to effectively counter these problems.

Whether or not Bitcoin can survive without proof-of-work remains a big question. It is true miners can be seen as a “problem” in many different ways. They are the ones determining the future of Bitcoin by supporting or rejecting scaling solutions. The regular user has absolutely no say in the current Bitcoin ecosystem, unfortunately. Bringing power back to the people is not straightforward. A new hard fork is not necessarily the answer either. Something has to change sooner rather than later. How that change will be enforced, remains to be determined.

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Coinbase Gives IRS More Than 10K Users’ Information

After fighting the IRS in court, popular digital currency marketplace Coinbase has been ordered by the Northern District of California to turn over more than 10,000 users’ personal information and trade history — but it could have been much worse.


The Taxman

The Beatles once sang:

If you drive a car, I’ll tax the street,
If you try to sit, I’ll tax your seat.
If you get too cold, I’ll tax the heat,
If you take a walk, I’ll tax your feet.

Now, you can add “If you sell on Coinbase, I’ll tax your trades.”

Coinbase

According to Coinbase support, the popular cryptocurrency marketplace notified roughly 13,000 users concerning a summons from the Internal Revenue Service — the United States’ tax collection agency and official administers of Congress’ Internal Revenue Code.

As described in the United States District Court’s decision, the IRS served up a summons to the exchange regarding records of almost every single Coinbase user over a period of several years. The exchange, however, failed to comply — leading to the IRS narrowing its request to significantly fewer individuals with larger accounts. The Northern District of California both granted and denied parts of the United States of America’s Petition to Enforce, resulting in Coinbase’s being ordered to turn over more than 10,000 users’ information, on suspicion that they failed to pay federal tax on their cryptocurrency profits.

The information provided to the IRS by the cryptocurrency exchange includes users’ “taxpayer ID, name, birth date, address, and historical transaction records for certain higher-transacting customers during the 2013-2015 period.”

Coinbase Is on Your Side

Though nobody enjoys dealing with the IRS, it’s worth noting that Coinbase sought to protect its users’ information from the federal government’s tax collectors. As explained by the exchange:

In December 2016, the Internal Revenue Service issued a summons demanding that Coinbase produce a wide range of records relating to approximately 500,000 Coinbase customers. Coinbase fought this summons in court in an effort to protect its customers, and the industry as a whole, from unwarranted intrusions from the government.

Bitcoin Taxes

Coinbase also considers the result of its initial non-compliance a victory, writing:

After a long process, the court issued an order that represents a partial, but still significant, victory for Coinbase and its customers: the order requires Coinbase to produce only certain limited categories of information from the accounts of approximately 13,000 customers.

Have you received a notification from Coinbase in regards to your information being turned over to the IRS? Do you appreciate the exchange’s initial non-compliance? Let us know in the comments below!


Images courtesy of Wikipedia Commons, Coinbase, and Bitcoinist archives.

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Nano Leads Crypto Recovery

Nano

Nano is leading the crypto recovery today.

After a week of bloodshed, there is finally some green out there yonder on the ol’ crypto fields. Right now, only ten cryptos are down out of the top 100 cryptocurrencies. Nano has been a consistent leader today, outgrowing all the other cryptos on the market.

At the time of writing, Nano has a selling price of $12.59. This puts the altcoin up 35.41% in the past 24 hours – more than any other coin on the market as of right now.

Currently ranked as …

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Forward towards a bright future, blockchain universe UnicornGo

To the moon and back, is a distant dream for everyone who is in love with the skies. The conquest of planets is a painful issue, since the human body is not ready for substantial changes in surroundings. For instance, to colonize Mars, specially genetically modified individuals would be required, capable of withstanding the radiation. But there is great news! Today, every smartphone user can contribute to advancement in genetic engineering.

How can an adventure into a crypto world drive forward medical science? How can every third gamer be a contributor? And what does this have to do with unicorns? Let us tell you.

Pet meadow

It’s time for wonder! UnicornGo is a completely new, marvelous world, which will change your perspective of the gaming industry. Here the sun always shines, the air is infused with vanilla, candy bunches fill the treetops. Who dwells here? Mystical characters, crypto unicorns, are ready to become your loyal companions. These animated cutie pies will come into your world and bring you delight.

Decentralized game universe UnicornGo offers you to become a master of wonders and grow your wealth. At the same time, to contribute to advancements in medical science. Enchanting unicorns, with the directions of owners, seek their partners, create offspring and enjoy life. Thanks to the augmented reality platform IZETEX they can even interact with the real world. Integrated economy and exchange of crypto assets allows gamers to earn through this progressive reality. And how that is done? Though accumulating in-game currency CandyCoin, collecting rare specimens, breeding new valuable mutations and collecting game assets. An opportunity to increase your wealth outside of the game is also a possibility. With the help of augmented reality IZETEX technology the sweet currency can also be collected at any location in the world.

Play for a better world

The game itself is not the end goal. By design of the creators, the UnicornGo universe is a step towards important scientific advancements. Integrated realistic genetics enable in-depth analysis of crossbreeding mechanics. The gathered data is applicable to medical research in the field of genetic engineering. All in-game processes take place using smart contracts, which perform complex calculations for further use for scientific purposes. For instance, battling genetic diseases or even creating super humans.

And that is not all! Within the ethereal world of unicorns there are no borders and no limits. The unique platform NeuroBasis creates equal opportunities for all players, even those suffering from musculoskeletal disorders. There are no restrictions! With the help of high-tech neural interfacing, it will be possible to control pets with the power of thought. Furthermore, profits collected from the sales of every third neural-control gadget device will go to charity. What’s really important is that, unfortunately, today’s world ‘benevolence’ is decreasing. According to British Charities Aid Foundation (CAF), contributions to charities in 2017 have significantly decreased in the Group of Twenty (G20) countries. Crypto unicorns will make a positive contribution to the world statistics and the players will have a sense of inclusion in a good cause.

A change for the better! UnicornGo is a blockchain game that will change your perspective of the gaming industry. Join Forward towards a bright future, blockchain universe UnicornGo

To the moon and back, is a distant dream for everyone who is in love with the skies. The conquest of planets is a painful issue, since the human body is not ready for substantial changes in surroundings. For instance, to colonize Mars, specially genetically modified individuals would be required, capable of withstanding the radiation. But there is great news! Today, every smartphone user can contribute to advancement in genetic engineering.

How can an adventure into a crypto world drive forward medical science? How can every third gamer be a contributor? And what does this have to do with unicorns? Let us tell you.

Pet meadow

It’s time for wonder! UnicornGo is a completely new, marvelous world, which will change your perspective of the gaming industry. Here the sun always shines, the air is infused with vanilla, candy bunches fill the treetops. Who dwells here? Mystical characters, crypto unicorns, are ready to become your loyal companions. These animated cutie pies will come into your world and bring you delight.

Decentralized game universe UnicornGo offers you to become a master of wonders and grow your wealth. At the same time, to contribute to advancements in medical science. Enchanting unicorns, with the directions of owners, seek their partners, create offspring and enjoy life. Thanks to the augmented reality platform IZETEX they can even interact with the real world. Integrated economy and exchange of crypto assets allows gamers to earn through this progressive reality. And how that is done? Though accumulating in-game currency CandyCoin, collecting rare specimens, breeding new valuable mutations and collecting game assets. An opportunity to increase your wealth outside of the game is also a possibility. With the help of augmented reality IZETEX technology the sweet currency can also be collected at any location in the world.

Play for a better world

The game itself is not the end goal. By design of the creators, the UnicornGo universe is a step towards important scientific advancements. Integrated realistic genetics enable in-depth analysis of crossbreeding mechanics. The gathered data is applicable to medical research in the field of genetic engineering. All in-game processes take place using smart contracts, which perform complex calculations for further use for scientific purposes. For instance, battling genetic diseases or even creating super humans.

And that is not all! Within the ethereal world of unicorns there are no borders and no limits. The unique platform NeuroBasis creates equal opportunities for all players, even those suffering from musculoskeletal disorders. There are no restrictions! With the help of high-tech neural interfacing, it will be possible to control pets with the power of thought. Furthermore, profits collected from the sales of every third neural-control gadget device will go to charity. What’s really important is that, unfortunately, today’s world ‘benevolence’ is decreasing. According to British Charities Aid Foundation (CAF), contributions to charities in 2017 have significantly decreased in the Group of Twenty (G20) countries. Crypto unicorns will make a positive contribution to the world statistics and the players will have a sense of inclusion in a good cause.

A change for the better! UnicornGo is a blockchain game that will change your perspective of the gaming industry. Join Forward towards a bright future, blockchain universe UnicornGo

To the moon and back, is a distant dream for everyone who is in love with the skies. The conquest of planets is a painful issue, since the human body is not ready for substantial changes in surroundings. For instance, to colonize Mars, specially genetically modified individuals would be required, capable of withstanding the radiation. But there is great news! Today, every smartphone user can contribute to advancement in genetic engineering.

How can an adventure into a crypto world drive forward medical science? How can every third gamer be a contributor? And what does this have to do with unicorns? Let us tell you.

Pet meadow

It’s time for wonder! UnicornGo is a completely new, marvelous world, which will change your perspective of the gaming industry. Here the sun always shines, the air is infused with vanilla, candy bunches fill the treetops. Who dwells here? Mystical characters, crypto unicorns, are ready to become your loyal companions. These animated cutie pies will come into your world and bring you delight.

Decentralized game universe UnicornGo offers you to become a master of wonders and grow your wealth. At the same time, to contribute to advancements in medical science. Enchanting unicorns, with the directions of owners, seek their partners, create offspring and enjoy life. Thanks to the augmented reality platform IZETEX they can even interact with the real world. Integrated economy and exchange of crypto assets allows gamers to earn through this progressive reality. And how that is done? Though accumulating in-game currency CandyCoin, collecting rare specimens, breeding new valuable mutations and collecting game assets. An opportunity to increase your wealth outside of the game is also a possibility. With the help of augmented reality IZETEX technology the sweet currency can also be collected at any location in the world.

Play for a better world

The game itself is not the end goal. By design of the creators, the UnicornGo universe is a step towards important scientific advancements. Integrated realistic genetics enable in-depth analysis of crossbreeding mechanics. The gathered data is applicable to medical research in the field of genetic engineering. All in-game processes take place using smart contracts, which perform complex calculations for further use for scientific purposes. For instance, battling genetic diseases or even creating super humans.

And that is not all! Within the ethereal world of unicorns there are no borders and no limits. The unique platform NeuroBasis creates equal opportunities for all players, even those suffering from musculoskeletal disorders. There are no restrictions! With the help of high-tech neural interfacing, it will be possible to control pets with the power of thought. Furthermore, profits collected from the sales of every third neural-control gadget device will go to charity. What’s really important is that, unfortunately, today’s world ‘benevolence’ is decreasing. According to British Charities Aid Foundation (CAF), contributions to charities in 2017 have significantly decreased in the Group of Twenty (G20) countries. Crypto unicorns will make a positive contribution to the world statistics and the players will have a sense of inclusion in a good cause.

A change for the better! UnicornGo is a blockchain game that will change your perspective of the gaming industry. The game is set to be released in March 2018 while the pre-sale ends on 28 February.Join and together we will transform reality for the better.

Please visit: https://unicorngo.io

 

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TD Bank The Latest to Halt Cryptocurrency Purchases Using Credit Cards

Toronto-Dominion (TD) Bank is the latest financial institution to ban customers from using their credit cards to purchase cryptocurrency. As more retail investors continue to be onboarded, banks are looking to protect them from making ignorant decisions.


Weighing Risk, Regulation, and Rapidity

In a recent move that has become common from banks, TD Bank is effectively halting the use of credit cards to purchase cryptocurrency. Originally still permitting purchases even after the first move from banks began, TD Bank has now fallen in line with a growing policy change.

At TD, we regularly evaluate our policies and security measures, in order to serve and protect our customers, as well as the bank. We recently made the decision to pause on allowing cryptocurrency purchases via credit cards to conduct a review and assessment of this evolving market.

Other Canadian banks, such as Royal Bank, have still been watching from the sidelines when it comes to credit purchases, but they too might soon follow in the footsteps of TD and most major international banks.

credit card

Banks are Moving to Protect Credit Lines

Earlier in the month, major banks including JPMorgan Chase, Bank of America, Citigroup, and Virgin Money all effectively banned purchasing cryptocurrency on credit cards. Although plenty in the space saw this as a move by the banks to stifle investment in this alternative asset class, the underlying premise of the ban had a bit more substance than a simple block.

As cryptocurrency saw historic rallies during the month of December, along with a subsequent fall beginning in January, plenty of retail investors were washed out from the markets. However, even with the media continually putting an emphasis on the volatility risk of cryptocurrency, credit cards became a quick way to invest.

The action of the banks was not a move to prevent people from buying cryptocurrencies but, rather, to prevent vacuous decisions. The ban was more of a safeguard, considering most investors not being able to pay back the issued credit due to the crashing prices.

A Growing Trend Set to End

As the markets fell, so did the interest to buy bitcoin on a credit card. According to Google trends data, search interest for the phrase “buy bitcoin with credit card” fell nearly 80% between the end of December and now – the exact period of time during the major market decline.

bitcoin search trend

Although popular cryptocurrency exchanges, such as Coinbase and BitStamp, allow credit card transactions, users are finding their transactions declined upon attempting to make purchases.

You can’t purchase traditional investments with a credit card, so it’s not surprising that the banks put their foot down when it came to cryptocurrency. Moving forward, banks that haven’t imposed a ban will most likely do so in the future. The days of purchasing cryptocurrency on credit are numbered.

Do you think investors should be able to purchase cryptocurrency using credit cards? Do you think the banks imposing bans are making the right decision? Let us know in the comments below.


Images courtesy of Pixabay, Google Trends, and Wikimedia Commons/Matthew G. Bisanz

The post TD Bank The Latest to Halt Cryptocurrency Purchases Using Credit Cards appeared first on Bitcoinist.com.

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Ripple (XRP), Litecoin (LTC), and Ethereum (ETH) Shine as Market Recovers

Ripple (XRP), Litecoin (LTC), Ethereum (ETH)

After an incredibly harsh week on the crypto market, Ripple (XRP), Litecoin (LTC), and Ethereum (ETH) lead the crypto recovery for the top ten cryptos.

Out of the top 100 cryptocurrencies, only 10 are currently down – quite the turnaround from the rest of the week. This was a week full of ranking swaps, coin rebrands, and Bitcoin plunges. One can only imagine what’s going to happen next week.

Are the losses finally over? Is the crypto market on the road to recovery at last? Let’s delve into Ripple, Litecoin, and Ethereum to examine …

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Blockchain-Based Distribution Platform ALAX to Allow App and Game Developers to Reach Tens of Millions of ‘Unbanked’ Consumers

  • ALAX’s token-based technology will provide access to tens of millions of ‘unbanked’ customers worldwide
  • ALAX TGE set to commence on April 17th 2018, with the platform scheduled to be available immediately following its conclusion.

ALAX, a new venture between blockchain technology company DECENT and games distribution platform Dragonfly, has today released a white paper outlining further details of its token structure and confirming that it’s TGE will commence on April 17th, 2018.

A number of intended partnerships are set to be announced in the coming days, which will see the platform preinstalled on millions of smartphones, particularly in the fast-growing South-East Asian and South Asian mobile markets.

Access to millions of ‘unbanked’ consumers

The token-based ALAX platform will give developers access to tens of millions of game and app consumers who do not use credit or debit cards (the World Bank Global Finance Index 2014 identified 2 billion ‘unbanked’ adults worldwide), yet do have relatively easy access to cash and 3G/LTE smartphones.

With the ALAX platform, customers will be able to purchase ALA tokens in cash through the existing Dragonfly retailer network. ALA tokens are then used in-app to purchase games and apps direct from the developer. Not only does this quicken the transaction, and reduce the price of content, it also opens gaming and app purchases to customers without access to traditional methods of payment.

The platform will also represent a fairer deal for developers: DECENT estimates that traditional purchase methods result in game developers currently receiving a maximum of 70% profit from an app, with payments often taking 3-6 months to be processed. In contrast, ALA token payments will be made directly to the developer, and can then be exchanged for a FIAT currency (USD, EUR, THB, PH, etc) at any time.

Mobile games revenue in Southeast Asia is predicted to reach $2.4 billion by 2021 and, with other intended partnerships also in the pipeline, ALAX is set to provide app and game developers with access to millions of new consumers in emerging markets.

TGE to commence on April 17th 2018

The ALAX Token Generation Event (TGE) is set to commence on April 17th, and will last 6 days. 1 billion ALX tokens will be issued, and these tokens can be used to acquire ALA tokens (tied to FIAT and used for in-platform purchases) on the one-way ALX/ALA exchange at a 20% discount, with full details available in a published one pager.

The ALAX platform will be immediately available to consumers and developers following the TGE’s conclusion.

About ALAX

ALAX is a Mobile Game Distribution Platform, based on blockchain technology, which is set to transform the gaming industry around the world. It is a joint venture from blockchain technology business DECENT and app and game distribution platform Dragonfly, and aims to provide a platform for content creators and gamers alike, including ‘unbanked’ consumers worldwide.

 

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Get Rid of Your Passwords – REMME Announces Alpha Release of its Distributed Public Key Infrastructure (PKId) Protocol

Ukrainian company REMME has recently released the alpha build of its REMME Core 0.1.0 protocol, which hopes to eliminate human error in the cybersecurity domain by getting rid of passwords entirely.


Password management is no joke. Despite the ever-expanding advances made in cryptography over the years, poor password discipline remains the greatest weakness to modern computer systems. Besides phishing attacks and easily guessable passwords, users have even been shown to give up their passwords for a bar of chocolate.

Even the mightiest cybersecurity systems have been brought to their knees by a single weak password. Case in point: Equifax notoriously lost the Social Security numbers of 143 million Americans in September last year for simply using the embarrassingly default password combo of ‘admin/admin’ in one of their online employee portals.

And yet, humans are getting no better at protecting their own credentials. Considering the average person can now be expected to maintain at least dozens of accounts spread across social media, chat apps, gaming platforms, email, and even work accounts, it’s little wonder that over 80% of people reuse their passwords. The most readily-available fix is to implement a password manager, though studies show that very few people actually use them.

Making the Password Obsolete

Making the Password Obsolete

The long-term solution? Bypass the password entirely.

That is what the REMME project is hoping to achieve with the recent alpha release of their Access Management solution. A Ukrainian company started in 2015, REMME intends to make passwords obsolete by migrating the authentication process on to the blockchain, thereby eliminating human error from the equation. This is being done using their distributed REMME Public Key Infrastructure protocol (PKId) along with a set of Access Management DApps built on top of it.

REMME’s Core 0.1.0 Alpha release currently offers developers access to the core functionality of the protocol, which includes access to the architecture and high-level logic of working with SSL/TLS certificates. It comes with a command-line interface (CLI) for developer’s seeking quick access to the protocol’s central features, such as issuing and revoking certificates and transferring REM tokens between users. The basic elements of working with the company’s REM token have also been integrated.

The protocol’s release comes hard on the heels of the company’s REM token public ICO on February 13th, which raised 19,343 ETH. The token sale has already reached its hard cap of $20 million USD  and tokens are currently locked until February 25th at 14:00 UTC.  The project has already come to the attention of several companies including Ukrinmash, a part of the State Concern Ukroboronprom, a large, state enterprise tasked with managing Ukraine’s military-industrial complex.

REMME’s efforts earned it recognition at the Microsoft Blockchain Intensive held by Microsoft Ukraine in June 2017. The team won first place at the event’s blockchain-themed hackathon, where they used REMME authentication technology, IPFS protocol, and the Ethereum blockchain to build a traffic collision awareness and reporting system. As a result, they made off with a $10,000 project grant, an invitation to the VivaTechnology conference in Paris, and a business, legal, and marketing consulting contract from Ernst & Young Global Limited, a professional services company based in London.

The project began in 2015 following a series of cyber attacks which rocked several large Ukrainian companies. By early 2016, the first closed beta version of the product was released on the Emercoin blockchain. This was followed by a second version on top of the Bitcoin blockchain in 2017.

The team’s next goal is to develop inter-blockchain token migration for the protocol’s next release. This will allow the REM token, which is currently released on the Ethereum platform, to be used on their custom REMME blockchain. Public testing is slated to begin later this year, with a public release set before the end of the year.


Are we entering a new age of cybersecurity? Will REMME finally get rid of the terrible password practices that have come to define most major data breaches? Let us know in the comments below!

The post Get Rid of Your Passwords – REMME Announces Alpha Release of its Distributed Public Key Infrastructure (PKId) Protocol appeared first on Bitcoinist.com.

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India’s NASSCOM Partners With Blockchain Institute

I’ve said it before, and I’ll say it again, it seems that people either love cryptocurrency and blockchain or they hate it. There’s no in-between. There’s no Switzerland. It’s an all or nothing sort of deal.

Earlier today, the U.K. Treasury Committee launched an inquiry into cryptocurrency and blockchain, stating that it will be looking into the risks and dangers open to consumers who use cryptocurrencies. Also announced today is that one of India’s most prominent tech industry organizations has partnered with the BRI, Blockchain Resource Institute. Why? To create a blockchain institute which will develop …

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Despite Slow Start, Analysts Believe 2018 Could be the Best Year for Bitcoin

Cryptocurrency markets are not off to a good start in 2018. Most markets have lost nearly half of their value during the first few weeks. This most recent dip has pushed the momentum back as well. Even so, analysts are convinced this year will be very bullish for all cryptocurrency markets in the long run. Especially Bitcoin may see some big gains.

Bitcoin Scalability Improvements?

All cryptocurrency markets have seen major declines throughout the first seven weeks of 2018. Although Bitcoin showed some good momentum this week, most gains have been lost once again. Whether or not this is a bubble effectively bursting, remains to be determined. However, there are still a few solid reasons as to why things may turn out for the better. Julian Hosp remains bullish on cryptocurrency for quite some time to come.

Especially where Bitcoin is concerned, things can still improve quite a bit. With new scaling solutions coming to the ecosystem, a lot of progress will be made. Segregated Witness is now enabled by default through the Core client. It has also become more convenient to use altogether. If this adoption rate improves, the Lightning Network has a fair chance of succeeding as well. For now, there is no official release date for the Lightning Network as of yet.

With a lack of scaling, Bitcoin made a lot of headlines due to mounting fees. At one point, a Bitcoin transaction cost over $20. It is far from ideal, yet solving the problem is not all that easy. With SegWit and LN, those fees should eventually come down over time. Only time will tell if this works as people expect it to. Moreover, the addition of smart contracts to Bitcoin through Rootstock is something to look forward to.

Other Cryptocurrencies and ICOs

Cryptocurrency is about so much more than just Bitcoin, though. More regulation of this entire industry can be a good thing in many different ways. If an industry is regulated, it is “validated” in the eyes of the general public. For now, we see dozens of countries looking into regulating Bitcoin and other currencies. Not everyone is a big fan of regulation, as it imposes severe restrictions in some cases. For now, it seems further regulation will help legitimize cryptocurrencies and digital tokens moving forward.

Most people expected institutional investors to make a big impact on cryptocurrency. Through the Bitcoin futures, that should have happened some time ago. So far, the initial interest in such futures has been rather limited. Even though the volume is picking up, it remains to be seen if institutional investors effectively show a real interest in cryptocurrency. Depending on how this trend evolves, we may see some big progress in overall prices moving forward.

Last but not least, the elephant in the room is the ICO industry. To many people, it seems initial coin offerings are the downfall of cryptocurrency. With the SEC cracking down on illicit projects, things will improve moving forward. It all comes down to more legitimate coin offerings in the future, and which companies will embrace this model. Especially with Telegram turning their ICO into an IPO of sorts, it is evident the business model itself may see some big changes.

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