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The Internet May Be Next Victim of Coronavirus Pandemic – Netflix, Google, Apple and Amazon React

Internet May Be Next Victim of Coronavirus Pandemic Fears the EU, Netflix, Google and Amazon ReactWith an estimated billion people staying home, remote working or just watching shows online all day, telecom infrastructure is coming under great strain. Experts and companies are mostly saying that the risk is far from critical yet, but the EU has taken the possibility of the internet crashing very seriously. Netflix, Google, Apple, and Amazon have begun to restrict HD video streaming to reduce data usage in Europe.

Also Read: Encryption Standards Threatened Under Pretext of Battling Coronavirus

Coronavirus Crisis Hurts European Internet Infrastructure

The epicenter of the coronavirus crisis has squarely migrated from China to Europe these days. Italy bore most of the brunt, with the highest number of casualties so far, but Spain, France and other countries are also suffering the strong effects of the pandemic growing quickly. Governments have reacted by imposing curfews on citizens, closing borders, shutting down businesses and generally putting in place various restrictions on normal life in order to slow the spread of the virus and “flatten the curve”.

The main measure that everyday people were asked to take in response is to stay home and avoid any unnecessary trips outside the house. As such, it is no surprise that internet usage in Europe has spiked, with employees working remotely, students learning online and everybody streaming videos. This caused European telecommunication companies, such as Vodafone and Deutsche Telekom, to raise the alarm and the European Union soon reacted.

The EU Commissioner for Internal Market, Thierry Breton, revealed on Twitter that he has had discussions with Netflix CEO Reed Hastings and asked that the streaming service downgrades its broadcasts in Europe from high definition video quality to lower resolution. An hour of HD video from Netflix takes about 3GB of data and an hour of standard definition (SD) video takes about 1GB of data so the move could cut a significant amount of used bandwidth.

Video Streaming Giants React

According to recent estimates, video streaming services can account for more than 60% of global internet traffic, with Netflix alone responsible for 12% of online bandwidth around the world. The company was the first of the operators in the market to announce it will take measures to help with the situation in Europe.

“Given the extraordinary challenges raised by the coronavirus — Netflix has decided to begin reducing bit rates across all our streams in Europe for 30 days,” a Netflix spokesperson said. “We estimate that this will reduce Netflix traffic on European networks by around 25% while also ensuring a good quality service for our members.”

Google has also reduced bitrates on its subsidiary Youtube, where an estimated one billion hours of content is being watched every day. This reportedly happened after EU Commissioner Breton talked with Alphabet CEO Sundar Pichai and Youtube CEO Susan Wojcicki. “We are making a commitment to temporarily switch all traffic in the EU to standard definition by default,” the company said.

The Internet May Be Next Victim of Coronavirus Pandemic – Netflix, Google, Apple and Amazon React

Amazon has also taken similar measures on its Prime Video service. “We support the need for careful management of telecom services to ensure they can handle the increased internet demand with so many people now at home full-time due to Covid-19,” an Amazon spokesperson said. “Prime Video is working with local authorities and internet service providers where needed to help mitigate any network congestion.”

Disney has postponed the planned launch of its Disney Plus streaming service in France at the request of the local government while going forward with the plan in other European markets. It also said it will lower its overall bandwidth utilization by at least 25% in all of the markets launching Disney Plus on March 24, 2020. This will reportedly be done in response to an EU request to “ensure the smooth functioning of the broadband infrastructure.”

According to reports from European subscribers, Apple has reacted to the situation by downgrading the streaming quality of Apple TV Plus in Europe.

What do you think about the possibility that the internet will crash due to the global coronavirus crisis? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.

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Tether Launches Stablecoin Token on Bitcoin Cash via Simple Ledger Protocol

Tether Launches Stablecoin Token on Bitcoin Cash via Simple Ledger ProtocolTether, the world’s most popular stablecoin, will be using the Simple Ledger Protocol built upon the Bitcoin Cash network for issuing its tokens. Among other things, this means that millions of Bitcoin.com Wallet users will now be able to send and receive USDT via SLP tokens right within the app.

Also Read: Paypal Pullout Prompts Pornhub to Add Tether as Payment Option for Its Adult Models

Tether Joins The SLP Ecosystem

Tether, the venture behind the largest stablecoin by market cap, has announced the launch of its token on Bitcoin Cash via the Simple Ledger Protocol (SLP). USDT has a capitalization of over $5.5 billion, with the majority of tokens running on Ethereum as of today. Other cryptocurrency networks supported by Tether include Algorand, EOS, Liquid Network, Omni and most notably Tron.

Tether’s launch on SLP underlines its growing role within the cryptocurrency ecosystem. The protocol is an easy to use, robust and extensible token management system that allows anyone to create tokens on the Bitcoin Cash network in a permissionless way. It has helped the development of an ecosystem for BCH that replicates the variety of ERC20 tokens on the ETH network.

Tether Launches Stablecoin Token on Bitcoin Cash via Simple Ledger Protocol

“A key strength of Tether is that it is underpinned by a rich diversity of different blockchains,” said Paolo Ardoino, CTO at Tether. “Our latest collaboration with Bitcoin Cash will provide Tether with a variety of benefits. We expect the adoption after launch to be pretty easy for any integrator. The launch will also support more applications on the Bitcoin Cash chain, with Tether facilitating payment for these applications.”

The Simple Ledger Protocol

SLP tokens can easily be created, traded, and managed on the Bitcoin Cash blockchain within seconds, while costing users only fractions of a penny for each transaction. All transactions are recorded onchain, and custom token behavior can be defined using a bitcoin Script development language.

Following a recent upgrade, millions of Bitcoin.com Wallet users have access to SLP tokens right in the app. With built-in token management support, users can send, receive, and store a variety of tokens that represent anything from dollar-pegged stablecoins to virtual gaming assets and company loyalty points, with the private keys held only by the user.

Lightning-Fast New Bitcoin.com Wallet App Proves Popular With Over 10 Million Total Wallets Created
SLP Tokens in the Bitcoin.com Wallet

“It’s extremely exciting to hear that the world’s biggest stablecoin will be using the Bitcoin Cash Blockchain and that the millions of Bitcoin.com wallet holders will be able to send and receive Tether using SLP tokens,” said Roger Ver, Executive Chairman of Bitcoin.com.

What do you think about Tether launching on SLP? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.

The post Tether Launches Stablecoin Token on Bitcoin Cash via Simple Ledger Protocol appeared first on Bitcoin News.

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You Can Now Trade CS:GO Game Items Safely for BCH Through Blind Escrow on Bitcoin.com Local

You Can Now Connect Your Steam Account to Bitcoin.com Local and Trade CS:GO Game Items for BCHAre you looking for a cool way to earn bitcoin cash privately instead of buying it directly? You can now connect your Steam account to the peer-to-peer marketplace Bitcoin.com Local and trade CS:GO game items for BCH via blind escrow. This is a great improvement for players who were previously vulnerable to scams and other risks as trading can now be done safely, without paying high fees, without KYC and without handing over control of your digital assets to any third party.

Also read: Bitcoin.com Exchange to Sponsor Decentralized Collectible Card Game Splinterlands

Bitcoin.com Local Integrates Steam Game Items

Bitcoin.com Local, the privacy-focused global marketplace for trading bitcoin cash (BCH), has integrated Steam inventory trading and now allows users to buy and sell CS:GO game items on the platform. All a seller has to do to create a new offer for such a game item on Local is to select CS:GO as the category, connect their Steam account via Open ID and provide a link for buyers to inspect the product on Steam. You can see all the new items already available for sale here.

If you have been living under a rock for the past few years, Counter-Strike: Global Offensive (CS:GO) is a wildly popular team-based multiplayer first-person shooter game published by Valve in 2012. It is played by as many as 11 million players per month, and is a staple of competitive gaming, with many tournaments around the world. Since December 2018, Valve offers the game free to play and gets its profits from the sale of game items.

Listing example

As such is the case, it is not a surprise that a huge market has developed around the trading of CS:GO game items, but the participants still suffer from a dependency on some centralized platforms. For example, when the dominant venue for trading CS:GO skins at the time (Opskins) was issued with a cease and desist order a couple of years ago, users got just 15 days to withdraw their skins from the platform and close to $2 million worth of items that hadn’t been reclaimed in time were lost forever. Bitcoin.com Local aims to change all that with the power of the Bitcoin Cash network, enabling users to list their items for sale without the risk of trusting any centralized 3rd party with custody.

The developers explain that by utilizing Blind Escrow, a feature created on the BCH blockchain, users can transact directly peer-to-peer without having to trust the other party or the exchange provider. With this technology, the developers have created a trustless peer-to-peer market for Steam game items. And unlike other solutions, users do not have to lock their items up with the exchange while they are listed for sale. This means they can continue to use their items in game until a buyer purchases their listing. Additional advantages include low fees, no burdensome KYC requirements, no restrictions on deposits or withdrawals, and no limits on price per item.

Preventing Scams With Blind Escrow

The trade of CS:GO items has been plagued by risks like chargebacks, sellers failing to send items after receiving payment, and third party custody failures. Bitcoin.com Local set out to solve this problem after community member Luke Lynch recognized that the platform’s blind escrow was the solution and reached out to the Bitcoin.com team. He explained:

When I first came across the trustless escrow technology built on top of the Bitcoin Cash network, I was impressed. Previously, I had seen many instances where third party escrow providers had exit-scammed users, resulting in the loss of funds.

Following the successful integration, users can now connect their CS:GO Steam inventory to their Bitcoin.com Local account and trade items without risk thanks to the platform’s blockchain-powered blind escrow, which protects both the seller and buyer. Sellers can set any price and will receive BCH for their items, which can then be sold for USD, EUR, and other fiat currencies directly on the platform. This contrasts Steam’s own Community Market, which limits the price to below $2,000 and prevents users from cashing their earnings out from the Steam ecosystem.

Local.Bitcoin.com/Steam/Buy

Sellers also pay significantly lower fees on Bitcoin.com Local: less than 1% compared with up to 15% on other platforms. Additionally, unlike trading platforms Bitskins and Skinbaron, they can continue to use items that are listed for sale. Luke concluded, “The idea of a trustless marketplace where users can list items for sale and then continue using them in-game, while also saving a huge amount on fees and not having to trust the reputation of the other party in the trade, or the escrow provider in the middle, is very appealing.”

Peer-to-Peer Private Trading Platform

Bitcoin.com Local was launched in June 2019, soon after the leading platform at the time removed the option for users to transact coins in person for cash. The platform lets traders choose any payment method they want for making transactions, including bank transfers, Paypal, Alipay, Venmo, cash in person and gift cards. And while many centralized exchanges are now forcing users to jump through hoops like submitting a selfie with their passport or government ID to prove their identity, Local enables you to trade anonymously and without any KYC, which has likely contributed to its rapid growth.

Beyond exchanging crypto for fiat, the platform recently added a dedicated portal for buying and selling anything else. This Marketplace is a Craigslist-like venue for listing goods to be sold for bitcoin cash. It can allow anyone to earn BCH directly by providing a service and gives bitcoin cash users another venue to spend their crypto in.

You Can Now Connect Your Steam Account to Bitcoin.com Local and Trade CS:GO Game Items for BCH

If you haven’t signed up yet, the process takes less than a minute. After getting an account you can immediately create offers or trades on Bitcoin.com Local. The exchange is protected by two-factor authentication, a wallet backup, and a blind escrow system for secure trading. The blind escrow allows people to trade without worrying about a third party or even Bitcoin.com touching the funds. You release the funds when you want to settle a trade and it’s technically impossible for our website to spend BCH held in escrow. Bitcoin.com Local can provide mediation for dispute resolution but the blind escrow system ensures only the buyer or seller authorizes a withdrawal.

You can see all the new CS:GO game items available for sale here.

What do you think about the ability to safely trade game items for bitcoin cash? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.

The post You Can Now Trade CS:GO Game Items Safely for BCH Through Blind Escrow on Bitcoin.com Local appeared first on Bitcoin News.

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Binance Lending Adds Bitcoin Cash to Flexible Deposits Letting Users Earn Interest on BCH

Binance Lending Adds Bitcoin Cash to Flexible Deposits Letting Users Earn Interest on BCHBitcoin cash users now have another venue to earn interest on their digital asset holdings. Binance has added support for BCH flexible deposits on its lending platform, alongside ETH and EOS. This development comes just as competition in the crypto lending field is heating up.

Also Read: Binance Users in Turkey Can Now Deposit and Withdraw TRY via Akbank Integration

Binance Adds Bitcoin Cash to Lending Platform

Binance, the popular international cryptocurrency exchange with users from over 180 countries and regions, has announced the expansion of an interest bearing service to its users who hold three additional top cryptos including bitcoin cash. Binance Lending has now added ETH, BCH and EOS to the list of supported digital assets for flexible deposits. These join only BTC, BNB and two stablecoins which were available before.

Lending is a financial product that the exchange provides to its users to lend their idle crypto assets on the platform to Binance Margin, and earn interest for it. Flexible deposits is like a savings account for crypto, with the flexibility to redeem funds without a long term commitment and the simplicity of getting daily interest while margin traders are using your funds.

The individual maximum limit for bitcoin cash on Binance Lending was set to 1,000,000 BCH but the company says it will adjust interest rates and maximum individual limits on flexible deposits based on market and risk factors. From the point of view of the users that can afford to lend such an amount, the risks of holding any large amount on an exchange should also be considered.

Binance Lending Adds Bitcoin Cash to Flexible Deposits Letting Users Earn Interest on BCH

Binance is always pretty quick to add support for bitcoin cash to new services it launches after an initial testing phase. In October 2019 it launched BCH trading on the decentralized exchange developed on top of Binance Chain, achieved by listing a token on the DEX which is backed by real bitcoin cash assets.

In December 2019 the company also launched BCH/USDT futures contracts with up to 75x leverage on its Binance Futures trading platform. Bitcoin cash was only the third digital asset made available on Binance’s futures trading platform, strengthening its position in the crypto derivatives market.

Cryptocurrency Lending Race Is Heating Up

The business of lending and borrowing cryptocurrencies, which was previously the domain of specialized ventures, has attracted a lot of attention from new companies such as retail exchanges and wallets.

On March 10, Blockchain.com launched Borrow, a product offering retail users USD-pegged stablecoins against crypto assets held in their wallets. This lending service was made available to users in more than 180 countries. The company also said it will be offering retail users access to the same liquidity pool as institutional investors.

Binance Lending Adds Bitcoin Cash to Flexible Deposits Letting Users Earn Interest on BCH

On March 5, custody service provider Bitgo announced that it has begun offering institutional digital asset lending services after a few months of private beta. The lending service was said to be built by a Wall Street team that understands institutional investors’ needs.

That same day, Chinese crypto lending company Babel Finance also provided its outlook on the market in 2020, and noted that “The lending market is increasingly crowded because of the horizontal development strategy adopted by various crypto finance players.” Still, the company’s outstanding loan balance broke a new record high this year, reaching $380 million on February 18, 2020.

What do you think about Binance Lending adding BCH, EOS and ETH to flexible deposits? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.

The post Binance Lending Adds Bitcoin Cash to Flexible Deposits Letting Users Earn Interest on BCH appeared first on Bitcoin News.

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Bitcoin.com Exchange to Sponsor Decentralized Collectible Card Game Splinterlands

Bitcoin.com Exchange to Sponsor Decentralized Collectible Trading Card Game SplinterlandsSplinterlands is one of the most popular collectible trading card games in the cryptocurrency scene and a successful decentralized app. To help the game attract more players, and introduce them to bitcoin cash at the same time, Bitcoin.com Exchange will be sponsoring a number of upcoming Splinterlands tournaments.

Also Read: Pirate Chain Coin Now Available for Trading on Bitcoin.com Exchange

Bitcoin.com Exchange to Sponsor Splinterlands Tournaments

The team behind the collectible card game Splinterlands (formerly known as Steem Monsters) has announced on Monday that Bitcoin.com Exchange will be sponsoring the rewards for its next two ranked play seasons. The cryptocurrency trading platform will be sponsoring a total of eight tournaments over the course of the next month with a total of $1,000 in prizes.

The tournaments will start on Saturday, March 21, 2020 and two will be taking place each weekend for four weekends. The tournament prizes will be paid out in bitcoin cash (BCH), and all entrants will be required to link a BCH wallet address to their in-game account before they can enter these Bitcoin.com Exchange sponsored events.

“Splinterlands is extremely excited to have Bitcoin.com Exchange – one of the most well known and trusted brands in the cryptocurrency space – on board as a sponsor,” the team stated. “We expect this partnership to greatly benefit the users of both platforms and we’re looking forward to more opportunities to work together in the future.”

Bitcoin.com Exchange to Sponsor Decentralized Collectible Card Game Splinterlands
Splinterlands.com

Bitcoin.com Exchange was launched in early September 2019 as an easy-to-use platform with world-class security and a powerful trading engine. The platform employs institutional-grade encryption, two-factor authentication (2FA) and IP whitelisting to keep user accounts secure at all times. Available digital assets include ADA, ATOM, BCH, BTC, EOS, ETC, ETH, LTC, ONT, TRX, USDT, WAVES, XLM and XRP.

Games Are Great Applications for Crypto

Digital collectible card games such as Blizzard’s Hearthstone are wildly popular all around the world and bringing in billions in revenue each year according to gaming industry analysts. Many also think that the field is a perfect match for cryptocurrency-based collectible game items. Splinterlands provides an example of why this is, leveraging the technology to stand out from the established options.

Utilizing the transparency of the blockchain it’s possible to see how many of each different card exist in the entire game, so players can know exactly how rare and valuable their cards actually are. And cards can only be transferred with owners’ private keys, which means that the operators of the game cannot take them away from players and they are free to buy, sell, or trade them as they see fit, just like physical trading cards.

Additionally, all of the battle results, and the cards contained in packs, are generated by a published algorithm based on unpredictable data from the blockchain itself. The developers explain that this means that no one, not even themselves, can tamper with battle results, or give certain players better cards in packs.

Bitcoin.com Exchange to Sponsor Decentralized Collectible Card Game Splinterlands
Playing a match of Splinterlands

Every match of Splinterlands consists of an ever-changing set of combat rules, a timed team building session and the actual fight. On average a fight won’t last longer than two minutes, guaranteeing an exciting experience and the ability to play on the go. By changing the combat rules with every fight, the game achieves unique fights and challenges players to really get to know their cards.

Unlike other card games, where it’s simply the player with the overall stronger team that wins, players in Splinterlands are challenged to adjust their team for every fight to best comply with the rules and achieve victory. Currently, there are over 200 different cards with balanced statistical mechanics and 46 abilities.

Splinterlands has also introduced another unique feature to add value to their cards by addressing the problem of duplicates in a completely different way from most games. Duplicate cards can be combined to create a stronger card. Not only will the player have leveled up but by combining the two cards, the player is also automatically reducing supply.

The use of blockchain technology and crypto assets in video games has begun to attract attention from the mainstream gaming industry recently. For example, in January it was reported that French video games giant Ubisoft is looking to support new startups in the field as the next season of its incubator program will focus on blockchain technology.

“Blockchain technology is entering every single industry, including the Entertainment industry,” explained the Ubisoft Entrepreneurs Lab. “We can see a nascent ecosystem flourishing in many different directions exploring new possibilities to envision the relationships with the gamers, and between them, virtual assets ownership and exchanges, transaction security, and all what a crypto currency can allow. We have already worked with Blockchain startups now for more than 3 seasons and we want to keep on progressing on that mysterious but promising topic.”

What do you think about Bitcoin.com Exchange sponsoring the decentralized card game Splinterlands? Share your thoughts in the comments section below.


Images courtesy of Shutterstock and Splinterlands.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.

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Bitcoin Games Celebrates St. Patrick’s Day With Free Spins Promotion

Bitcoin Games Celebrates St. Patrick’s Day With Free Spins PromotionThe world needs a good cause to cheer right now in these tense times. Luckily, St. Patrick’s Day is coming up this Tuesday, March 17. To celebrate the holiday and give players an extra reason to smile, Bitcoin Games is offering a new free spins promotion. The platform is a provably fair online casino where you can play popular games using BTC and BCH. Its Free Spins feature allows users to place free bets on a slot machine that awards real crypto winnings.

Also Read: Video Games Giant Ubisoft Is Looking for Blockchain Startups to Support

Celebrate St. Patrick’s Day With Bitcoin Games

As the world prepares to mark the Feast of Saint Patrick, the patron saint of Ireland, Bitcoin Games invites players to take part in the cultural celebration without the need to go out to crowded events or even leave the house. The online platform is offering a special holiday promotion based on Lucky Lady’s Clover, a slot game inspired by Irish folklore.

“From pots of gold and rainbows to clover leaves and Lady Luck herself – this slot has everything to put players in the Irish spirit,” the developers explain. “Lucky Lady’s Clover carries a sprinkle of Irish luck and a reverie of the mythologies rooted deep in the culture of the Emerald Isle that will put you just in the right mood for St. Patrick’s Day.”

The promotion starts on March 16, 2020 at 00:00 GMT and ends on March 19 at 23:59 GMT. To be eligible for the promotion, players need to make a minimum qualifying deposit of 0.002 BTC within the promotion period and wager a total of 0.015 BTC or more on Lucky Lady’s Clover. Those who fulfill the requirements will be credited with 20 free spins.

Participate in the promotion to try a bit of Irish luck and bring yourself some cheer. For more information please visit the promotion’s terms and conditions page on the website.
Bitcoin Games Celebrates St. Patrick’s Day With Free Spins Promotion
Bitcoin Games is a provably fair online casino where you can play popular games using BTC and BCH. It offers a multitude of online casino games with the added security and transparency of blockchain.

What do you think about Bitcoin Games celebrating St. Patrick’s Day with a free spins promotion? Share your thoughts in the comments section below.


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Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.

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Lightning-Fast New Bitcoin.com Wallet Proves Popular With Over 10 Million Wallets Created

Lightning-Fast New Bitcoin.com Wallet App Proves Popular With Over 10 Million Total Wallets CreatedThe Bitcoin.com Wallet app has reached almost 10.5 million wallets created across several million app downloads. This milestone follows last month’s release of the new app, which most notably included a redesigned, user-friendly interface along with the lightning-fast Instant Pay feature for bitcoin cash payments and support for SLP tokens.

Also Read: Bitcoin.Com Releases Fastest Ever Wallet App, With Built-In Support for Bitcoin Cash-Powered Tokens

From 5 to 10 Million Wallets in Less Than Half a Year

The Bitcoin.com Wallet app has been one of the most popular wallets for bitcoin cash (BCH) and bitcoin core (BTC) users for several years. After the recent launch of the overhauled app, new and existing users have created a record number of wallets in-app to try out features like Instant Pay. “Users rushed to try our new wallet app,” highlights Bitcoin.com CEO Stefan Rust. “Last November we surpassed five million wallets created. Now—less than half a year on—we’ve surpassed ten million.”

Instant Pay is an exclusive new feature that lets users auto-pay instantly with bitcoin cash. The user presets a spending threshold and then scans their app to make a payment, which will complete in microseconds. This contrasts with other wallet apps which require users to manually swipe to approve bitcoin cash payments, with these transactions also completing more slowly.

Lightning-Fast New Bitcoin.com Wallet Proves Popular With Over 10 Million Wallets Created

Instant Pay, which gives the Bitcoin.com Wallet app its title of “the fastest Bitcoin wallet,” completes transactions faster than traditional payment methods like Visa and Mastercard. Combined with the redesigned user-friendly interface which aims to make bitcoin management easy for cryptocurrency newcomers and more advanced users alike, the new app provides users with a seamless payment experience similar to the likes of Venmo and Cash App.

Built to Be Easy, Simple and Fast

Users have also been trying out the app’s SLP token protocol support, a feature which is currently only available in a limited number of wallet apps on the market. This means the Bitcoin.com Wallet now lets users send and receive tokens that can represent real or virtual goods, with the app providing a safe place to store tokens alongside bitcoin cash.

Lightning-Fast New Bitcoin.com Wallet Proves Popular With Over 10 Million Wallets Created

The goal behind the new Bitcoin.com Wallet was to create an app that maintains the key features legacy cryptocurrency users expect while also being accessible to new users. “For many crypto newcomers, complex wallet apps are the stumbling block. That’s because these apps are typically built for techies: not for the everyday user,” Stefan explains. “The new Bitcoin.com Wallet app was built to be easy: it’s simple to use and, thanks to Instant Pay, it’s the fastest wallet on the market.”

Users can download the new Bitcoin.com Wallet for free today. The app is available for iOS and Android.

What do you think about the new Bitcoin.com Wallet app reaching 10 million wallets? Share your thoughts in the comments section below.


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Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.

The post Lightning-Fast New Bitcoin.com Wallet Proves Popular With Over 10 Million Wallets Created appeared first on Bitcoin News.

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Blockchain.com Will Allow Retail Wallet Users to Borrow USD Stablecoins With Cryptocurrency

Blockchain.com Will Offer Retail Wallet Users to Borrow USD Stablecoins With CryptocurrencyThe digital assets lending field seems to be heating up with Blockchain.com starting to offer lending directly to retail consumers globally. Borrowed USD stablecoins can be used by crypto traders to fund their next trades and thus increase the leverage of their holdings.

Also Read: Blockchain.com Launches High Speed Crypto Exchange for Retail Traders

Popular Wallet to Offer Crypto Lending for Global Retail Users

Blockchain.com, the provider of cryptocurrency services with over 46 million wallets created to date, has launched Borrow, a product offering retail users to borrow USD-pegged stablecoins against crypto assets held in their wallets. The new lending service is now available to users in more than 180 countries.

This launch follows the launch by Blockchain.com of an institutional lending desk in August 2019, which was handling $120 million a month by November. And the company said it will be offering retail users access to the same liquidity pool as institutional investors.

Blockchain.com Will Offer Retail Wallet Users to Borrow USD Stablecoins With Cryptocurrency

The company explained that as soon as the collateral is posted, users receive their loan and are free to use the stablecoins however they see fit. This means that retail traders can also use it to fund new trades without cashing out their previous investments and thus increase their leverage.

“Institutional and retail investors have the same financial goals – grow wealth and manage risks – but the tools at their disposal are vastly different,” commented Peter Smith, CEO of Blockchain.com. “Now, with our suite of trading products and Borrow, retail users can trade like the big guys without selling the crypto they’ve stockpiled or leaving their wallet.”

Digital Asset Lending Field Is Getting Crowded

On Thursday, March 5, custody service provider Bitgo announced that it is now offering institutional digital asset lending services after a few months of private beta. The lending service was said to be built by a Wall Street team that understands institutional investors’ needs.

“Our goal was to build a lending business that is similar to lending businesses in the traditional financial markets,” said Nick Carmi, Head of Financial Services, Bitgo. “We are not interested in a high-volume, low-margin business; we are building deep relationships with our clients to drive value for them and to create a long term, sustainable business.”

Blockchain.com Will Offer Retail Wallet Users to Borrow USD Stablecoins With Cryptocurrency

Babel Finance, a Chinese crypto lending company, also released its 2019 annual report on March 5. In its outlook on 2020 the report noted that “The lending market is increasingly crowded because of the horizontal development strategy adopted by various crypto finance players.” Still, the company’s outstanding loan balance broke a new record high this year, reaching $380 million on February 18, 2020.

What do you think about Blockchain.com offering USD borrowing to retail wallet users? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.

The post Blockchain.com Will Allow Retail Wallet Users to Borrow USD Stablecoins With Cryptocurrency appeared first on Bitcoin News.

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Newly-Launched Bitcoin.Com Lottery Unlocks Global Lotteries Through Cryptocurrency Payments

Use BCH or BTC to Play Power Ball, Mega Millions and Other Global Jackpots With Bitcoin.com LotteryFollowing the recent partnership between Bitcoin.com and Bravio Technologies Limited, the Bitcoin.com Lottery platform has officially launched. It lets users play the most popular global lotteries from any location. Tickets can be purchased using either bitcoin cash (BCH) or bitcoin core (BTC) as payment methods.

Also Read: Bitcoin.com Partners with Canadian Gaming Giant Bravio Tech on Global Lotteries

Use BCH or BTC to Play Power Ball, Mega Millions and Other Global Jackpots With Bitcoin.com Lottery

Traditional lottery platforms limited users in many ways. Tickets could only be bought within the country users were located and, in addition, users were further restricted by having to pay for those tickets with the country’s local currency. To enter and claim winnings on the U.S. Power Ball, for instance, a user had to be located in the United States and could only buy a ticket with U.S. dollars.

The launch of Bitcoin.com Lottery changes that. For the first time ever, users can enter global lotteries from any country. The platform acts as a booking engine, locally purchasing tickets through official lottery agents on users’ behalf. Furthermore, the Bitcoin.com Lottery platform is also the first to let users buy lottery tickets with cryptocurrency.

“Over recent years we’ve seen a shift in the way lottery tickets are sold, with increasing numbers of people buying them online. However, the limitations of location have remained. You still have to be based in a country to play a lottery there,” explains Bitcoin.com CEO Stefan Rust. “We’ve solved that problem by building a seamless global lottery platform. No matter where you’re based, you can log in and play the world’s leading lotteries.”

Use BCH or BTC to Play Power Ball, Mega Millions and Other Global Jackpots With Bitcoin.com Lottery

Powered by blockchain technology, the platform supports BCH and BTC payments for over ten global lotteries. All users need to purchase tickets through the platform is a suitable wallet app, such as the Bitcoin.com Wallet, and an account on the Bitcoin.com Lottery. After selecting a lottery and numbers, the user proceeds to pay using their wallet app.

Once the payment is made, a select team of local distributors working with the platform will then purchase the tickets, and a scanned copy will appear in the user’s account shortly after. The Bitcoin.com Lottery platform will also notify users should they have any form of winnings to collect, with an in-house customer support team available to help at any time.

Growing Adoption for Bitcoin Cash in Internet Gaming Industry

Bitcoin.com Lottery arose from the partnership between cryptocurrency service provider Bitcoin.com and Canadian internet gaming corporation Bravio Technologies Limited in 2019. The platform was developed by Bravio, a B2B Management Services company that specializes in the design and development of igaming technology.

Paul Carroll, CEO of Bravio Technologies, commented on the landmark launch: “We’ve unveiled a world first. It’s only a matter of time now before we see more igaming companies adopt Bitcoin Cash as a form of mainstream payments and, as a pioneer in this new digital age, the Bitcoin.com Lottery platform is just the beginning.”

Together with Bitcoin.com’s expertise in building on blockchain technology, the partnership has resulted in the creation of a seamless, user-friendly global lottery platform that removes limitations. In the future, the platform will be further developed with plans to let users anonymously cash out winnings directly into their wallets.

Bitcoin.com Lottery currently supports over ten world-famous lotteries. These include the U.S. Power Ball and Mega Millions, the Euro Millions, and the hugely popular €2.24 billion jackpot Loteria de Navidad. Users can get started on the platform by creating a free account.

What do you think about the ability to win lotteries around the world using bitcoin cash? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.

The post Newly-Launched Bitcoin.Com Lottery Unlocks Global Lotteries Through Cryptocurrency Payments appeared first on Bitcoin News.

Source: Bitcoin News

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Who Is Satoshi Nakamoto? An Introduction to Bitcoin’s Mysterious Founder

Who Is Satoshi Nakamoto – Introduction to the Mysterious Founder of BitcoinThe true identity of the creator of Bitcoin is one of the biggest mysteries in the modern world. Over the years many theories have popped up about who Satoshi Nakamoto really is, including a time traveler, a space alien, a rogue artificial intelligence or a front for groups such as the NSA, CIA and Yakuza. This article will present only the known facts about him and the more likely candidates who people suspect may be be the elusive figure.

Also Read: 10 People Who Might Be Satoshi Nakamoto

Who Is the Mysterious Founder of Bitcoin?

The name Satoshi Nakamoto is an alias used by the person or entity who created Bitcoin to hide their true identity. He claims to be Japanese, born on April 5, 1975 and reside in Japan but people doubt this due to his native-level command of the English language as well as his preference of working hours more consistent with the U.K. time zone than Asia. Satoshi is a Japanese boy’s name that means “one with wise ancestry” and he is presumed to be male.

Nakamoto was the first to solve the double-spending problem for a decentralized digital currency, creating a new asset, the likes of which the world had never seen before: Bitcoin. In October 2008, Satoshi published the original whitepaper, describing his blueprint for a “A Peer-to-Peer Electronic Cash System.” In January 2009 he released version 0.1 of the source code and launched the cryptocurrency by mining the genesis block. The founder continued to work on the software project for about another year and a half before disengaging from active development.

Nobody knows why Satoshi Nakamoto really decided to disappear without ever revealing himself or even cashing out some of the billions of dollars his early minted coins are now worth. This has provided fertile ground for speculation, educated guesses and outright conspiracy theories. Researchers have pored over the few data points left by the mysterious figure, trying to analyze his vocabulary, his way of writing and other clues to find some hints to his true identity.

Let’s have a look at some of the names that have been put forward as possible Satoshis.

Will the Real Satoshi Nakamoto Please Stand Up

Dorian Nakamoto is the man with the friendly face most people now associate with the creator of Bitcoin. He was outed as Satoshi in March 2014 by Newsweek Magazine, which created a media frenzy around him and greatly disrupted his life. Dorian has denied having any connection to the development of cryptocurrency but eventually embraced a role of a mascot of sorts for the community.

The evidence cited by the magazine includes the fact that Dorian was actually born with the name Satoshi. He was trained as a physicist at Cal Poly University and worked as a systems engineer on classified defense projects and a computer engineer for technology and financial information services companies. Nakamoto also has libertarian tendencies and encouraged his daughter to have a business “not under the government’s thumb.” And when he was first asked about Bitcoin, Nakamoto mistakenly thought it was a question about one of the classified projects he did for U.S. military contractors and said: “I am no longer involved in that and I cannot discuss it. It’s been turned over to other people. They are in charge of it now. I no longer have any connection.” For a more detailed look at Dorian as Satoshi Nakamoto see here.

Who Is Satoshi Nakamoto? An Introduction to Bitcoin's Mysterious Founder
Dorian (Not Satoshi?) Nakamoto at a Bitcoin Conference in San Fransisco

Hal Finney was a cryptographic pioneer, cypherpunk activist and the first person ever to receive a bitcoin transaction. Coincidentally or not, he also was a neighbor of Dorian Nakamoto. A Caltech engineering graduate and a developer for the PGP Corporation, he had the required skills to create a cryptocurrency from scratch and was the first person to improve the Bitcoin source code after Satoshi.

Finney died in August 2014 and was cryopreserved by the Alcor Life Extension Foundation. Hopefully one day the technology to revive him will be invented and he can provide more clarity on the issue if it has not been resolved by then. For now you can see all the many facts pointing to Hal being Satoshi here.

Nice Szabo, self-described “Blockchain, cryptocurrency, and smart contracts pioneer,” was in contact with like Hal Finney and his name often comes up as a possible Satoshi despite his claims otherwise. People who think he may be the creator of Bitcoin point out his proposal for a decentralized currency called bit gold from 2005 which uses similar concepts to those eventually perfected by Bitcoin. For a breakdown of the facts pointing to Nick Szabo being Satoshi see here.

Who Is Satoshi Nakamoto? An Introduction to Bitcoin's Mysterious Founder

Craig Wright is mostly thought of as a conman these days but there was once a time when some of the most prominent names in the crypto community thought he was Satoshi. This abrasive character is an Australian academic and businessman who first emerged in December 2015 with reports in Wired and Gizmodo. Since then he tried to force people to accept him as the creator of Bitcoin in various unconvincing ways, such as lawsuits against his critics. For the latest developments in the Craig Wright claiming to be Satoshi Nakamoto saga see here.

Paul Le Roux is a much scarier Satoshi candidate who came to light from the legal cases around Wright. Le Roux is a former encryption software programmer and vicious cartel boss turned informant to the U.S. Drug Enforcement Administration. After he was arrested in September 2012 for conspiracy to import narcotics, the criminal mastermind admitted to participating in seven murders. See this link for more on why Satoshi Nakamoto could be Paul Le Roux.

Other less discussed possible Satoshi candidates include cypherpunk pioneer Ian Grigg, Japanese mathematician Shinichi Mochizuki and tech mogul Elon Musk.

 

Elon Musk is mainly involved in the cryptocurrency sphere as a meme lord and casual troll, but he too had to deny being the creator of Bitcoin. As the founder of Paypal, Tesla, Spacex and a multitude of other companies in different fields, Musk probably has the ability to learn whatever skills he needs to create a cryptocurrency from scratch.

In November 2017 a former intern at Musk’s rocket company by the name of Sahil Gupta presented the case that his old boss was really the founder of Bitcoin. A Yale University computer science student at the time, he claimed that Musk had both a preference and an excellent grasp of the C++ programming language like Satoshi did.

Gupta also pointed out that the stability of the financial system was a major global concern in 2008, and Musk is someone who “identifies the most urgent problems of our time and dedicates his time to solving them,” suggesting he had the drive “to solve the lack of trust in banks by creating a currency that doesn’t need them.” He also claimed the tech mogul had a deep understanding of economics and cryptography needed to write the Bitcoin whitepaper.

Musk, who is already a billionaire many times over thanks to Paypal and Tesla, also wouldn’t be tempted to cash out his old coins in a hurry. But the massive stash of BTC and BCH could be used to kickstart the Martian economy once he is out of reach of the IRS on the surface of the red plant. So perhaps he is Satoshi after all and is just using humor to misdirect?

 

What do you think about the possible identity of the creator of Bitcoin? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.

The post Who Is Satoshi Nakamoto? An Introduction to Bitcoin’s Mysterious Founder appeared first on Bitcoin News.

Source: Bitcoin News