This is an excerpt from the March Blockchain Report (Pg. 7) due out today summarizing the blockchain applied scientific discipline as well as digital currency manufacture for the calendar month of March 2016
BLOCKCHAIN TECHNOLOGY
March continued the 2016 blockchain bandwagon hop, however, this calendar month took a slight turn.
For the bulk of the 1st quarter banks, startups similar R3CEV, as well as organization such every bit the Linux Foundation stimulate got saturated the media amongst promises of private blockchains that volition dominion the world.
Industry professionals starting verbalize to the reverse inwards March starting amongst CFTC advisor Paul Chou.
Chou as well as a listing of others including including Digital Currency Group CEO, Barry Silbert, Silver Lake Partners founder Glenn Hutchings, Xapo CEO Wences Casares, as well as ShapeShift.io CEO Erik Voorheesand, to bring upward a few, stimulate got spoken out against the belief that these “blockchains” would genuinely work.
This is mainly concerning networks that don’t stimulate got whatever trust machinery inwards house other than the electrical flow agreements that are flawed now. Without an incentive such every bit bitcoin at that spot is no argue for anyone to back upward the network, thence you lot cease upward amongst alone the participants involved every bit the trust. This introduces a large safety adventure as well as massive points of failure. Another number is that beyond the incentive at that spot is no participants other than a listing of agreed upon “approval entities” which would serve every bit “nodes” as well as fifty-fifty farther weakening the concept.
That hasn’t stopped IBM, the Linux Foundation putting out concepts or R3CEV grouping banks together to endeavor making it a possibility. Both of which nosotros saw inwards March.
BLOCKCHAIN APPLICATIONS
Beyond that private networks Overstock.com furthered its T0 platform which runs every bit a sidechain recording on the blockchain as well as Ubitquity presented its Title as well as Deed application that records deeds on the blockchain. Both stimulate got farther stated that they are “blockchain agnostic” as well as tin role other blockchains if required. In Overstocks case, the SEC approved the blockchain (bitcoin) unless “otherwise stated” but expression a review if they seek to role the Potcoin network.
Rootstock raised considerable funds to construct a smart contract platform on laissez passer on of the blockchain (bitcoin).
Etherum saw its network role grow every bit good every bit its token cost (see Ether below) as well as also attracted farther back upward from Microsoft’s amongst novel Solidity integration amongst Microsoft’s evolution IDE, Visual Studio.
In a rather unexpected move, Disney’s quietly hopped on the blockchain bandwagon. The amusement giant actively began recruiting for an intern of the electrical or software ebngineering season to aid inwards edifice a possible blockchain-ish security based
HACKS AND OUTAGES
Bitquick as well as Cryptsy all saw major outages amongst Bitquick going offline due to a safety breach estimated at a 2 calendar week downtime catamenia as well as Cryptsy going offline perchance for good.
TCJam, a peer-to-peer loan service similar to Loanbase went offline indefinitely for U.S. users. It has discontinued service inwards the US.
DIGITAL CURRENCY AND TRADE
Ethereum’s token, Ether, held some $10/$11 money for the bulk of the month. Despite the hype some Ether, it was Dash that outperformed all altcoins. Fash enjoyed an increase to only over $7. Litecoin shut some $3.03 amongst picayune alter since February.
Bitcoin shut the calendar month at some $416 hitting every bit high every bit $428 downwards slightly from the previous calendar month as well as 42 continues remains the nigh useless but valuable digital currency at $877.08 which is downwards from its 2016 high of over $1500.
Coinbase blundered amongst allowing alone 1% of the U.S. to role debit cards, but made upward for it yesteryear adding halt orders to the Coinbase exchange.
LEGAL CRIME SCAMS AND PONZI’s
The Mt. Gox saga continues amongst Mizuho Bank facing a Class Action Lawsuit inwards United States. The lawsuit claims the banking concern continued to bring funds into Mt Gox which piled onto the heap of value that was eventually sucked downwards during the implosion.
The Crypsy saga continued amongst bizarre claims of hackers recovering coins followed yesteryear hackers existence trolls as well as ending amongst Cryptsy perchance going total Gox as well as currently they stimulate got been offline for days.
Russian Federation proposes a 7 yr prison theatre judgement for digital currency issuers as well as a New York bitcoin 24-hour interval trader was arrested as well as charged amongst operating an unregistered as well as unlicensed money service business, although it had nil to create amongst the Bitlicense, the offenses took house long earlier the BitLicense came to fruition as well as additionally the private was violating his probation yesteryear using a computer.
Reported yesteryear Alba Gei Original article from Match 2016 Issue or The Blockchain Report - media Banner Image yesteryear staff The opinions expressed yesteryear authors of articles linked, referenced, or published on .com create non necessarily express, nor are endorsed by, the opinions the of .com or its affiliates.
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