Merchant Mining and the Proof-of-Commerce Protocol
The "mining" industry is bursting with innovation, right now. It started as a way to incentivize people to support the Bitcoin network without allowing any one entity to take control, but has grown with new blockchain technologies. Cryptocurrencies are now being used to incentivize contribution to all kinds of initiatives, like solar energy adoption and....
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Bitcoin mining hardware firm CoinTerra has announced the acquisition of enterprise software company Bits of Proof. Under the terms of the deal, Bits of Proof CEO Tamás Blummer will join CoinTerra, assuming the position of Vice President of Enterprise Software, while CoinTerra will gain access to BOP assets, including its 'enterprise-ready' implementation of the bitcoin protocol. Bits of Proof (BOP) is a Hungarian software firm that builds business-focused solutions based on block-chain technology. Last year the company launched the BOP Enterprise Bitcoin Server, which it dubbed the 'Red....
San Francisco-based bitcoin broker and merchant services provider Coinbase announced on Thursday that they are now supporting the BIP:70 Bitcoin Payment Protocol. As provided by Coinbase, the following are features that make the Protocol useful: Human-readable, secure payment destinations- customers will be asked to authorize payment to a payment processor identified as "example.com" (or "Example, Inc." if an extended validation certificate is used) instead of an inscrutable, 34-character Bitcoin address. Secure proof of payment, which the customer can use in case of a dispute with the....
Over the next three years, 50,000 EV charging stations across Europe will start accepting crypto payments. Two payments firms have partnered to roll out crypto payments across 50,000 electric vehicle (EV) charging stations in Europe. The partnership is between Irish e-commerce and mobile payment solutions firm HIPS Payment Group Ltd and Vourity, a Swedish firm that specializes in unattended payment facilities such as EV charging stations. The integration of crypto payments with charging stations will occur over the next three years starting from November 2021. The firms haven’t revealed....
The cryptocurrency world has been adapting to the current demands and generating new consensus algorithms with better functionalities. The first consensus algorithm was the Proof of Work algorithm, but today there are various protocols such as Proof of Stake and Proof of Space. Specific consensus algorithms offer certain advantages over others. For example, the Proof of Stake algorithm is a more secure, faster and cheaper consensus protocol than Proof of Work. LaneAxis, the world’s freight brokerless direct freight network, utilizes a Proof of Stake algorithm to ensure quick transactions....
Bitcoin payments processor Coinbase has added support for the bitcoin payment protocol. Called BIP 70, the protocol allows communication between a merchant and its customers when transactions are made, and was designed to provide additional security and improve the customer experience. Coinbase says BIP 70 will offer improved protection against man-in-the-middle attacks on the payment process. Safer transactions. Addition of the protocol brings new features that should come in useful for many merchants: Human-readable, secure payment destinations - customers will be asked to authorize....