Coinbase implements zero-fee microtransactions off the block chain
Coinbase, the bitcoin wallet and exchange payment processor, has announced that it will begin processing off-block chain microtransactions. These transactions will be free for users, and once a user has accumulated 0.01 BTC they can withdraw funds, which then incurs the normal block chain fees. The new microtransactions are handled internally at Coinbase and are instant. For instance, you can even send a unit as small as a Satoshi (0.00000001 BTC). This will be a useful feature for Coinbase users because while miner's fees are relatively low for most transactions, they become significant....
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After a low-volume summer in the community, we just might be seeing some activity that, fingers crossed, could kickstart the alternative digital currency marketplace. Although the risk of project collapse is still out there, as recent failures like ghostcoin have shown, recent developments in the space indicate that the altcoin story is far from over. Viacoin team implements block chain notary service. One of the next-generation use cases proposed for the block chain is that of a notary. Instead of relying on a central authority to certify the authenticity of a document, the block chain....
The first decentralized smart contracts protocol built on top of an altcoin block chain is now live. ClearingHouse, a descendent of Counterparty, was created by the team behind viacoin and has been in active development since the alt first launched last month. The team has attracted top talent in the bitcoin space, most notably Bitcoin Core developer and Coinkite advisor Peter Todd who has been hired to work on his Tree Chains concept. On 11th August, the viacoin development team announced new details regarding ClearingHouse's internal currency, XCH, and information on how users can....
Updated with comment from Coinbase CEO Brian Armstrong. Coinbase announced today it is adding multi-signature (multisig) features to its Vault product, giving users greater control of their own security. The company's Vault feature initially launched in July and is aimed at users wishing to store larger amounts of bitcoin in a more secure manner over longer periods, with delayed withdrawals and multiple approvals. Different than Coinbase's regular wallet, Multisig and regular Vault accounts are not intended for everyday spending, and lack certain convenience features like API access,....
According to CoinDesk, Coinbase has partnered with BitMonet to offer in-app bitcoin payments. This is a major step for the Bitcoin community, if simply for another means to spend their bitcoins. Bitcoin as a technology lends to micro transactions based on it's minimal cost and speed of clearing the transactions. Compared to other methods, Bitcoin allows the versatility and safety for these style transactions. From theCoinDesk article: "Nandwani also claimed the kit could provide a way for bitcoin microtransactions to proliferate further. These tiny payment amounts are something credit card....
Bitcoin was designed to be a decentralized and trustless payment network - with the power to do this provided by the block chain and its ability to publicly confirm the digital currency's digital transactions. Rather contentiously, however, as the bitcoin economy expands, more and more transactions are being carried out off the block chain. Such transactions are tracked on private databases instead of the block chain, and cannot be publicly tracked. There are pros and cons to both systems. So, which are better? Off-block chain or on-block chain transactions? Visible payments. Legitimate....