Is It Necessary to Centralize the Bitcoin Ecosystem?
There has been a lot of debate on the need to centralize the bitcoin ecosystem, as this could pave the way for a more effective decision-making process for the industry. Apart from potentially enhancing oversight and having a framework to protect both companies and consumers, certain issues can also be addressed more quickly. One of these issues is that of increasing the blockchain size, which is currently hampering the speed of verification. Blocks are created every ten minutes and are limited to 1MB, which makes it difficult for the network of computers verifying the transaction. Bitcoin....
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On Wednesday, October 13, 2021, the market capitalization of all the stablecoins in existence is around $134 billion, which is 5.60% of the entire $2.4 trillion crypto economy. While centralized stablecoin projects dominate the pack of dollar-pegged tokens, a great number of decentralized stablecoins have been moving in on these centralized competitors. Algorithmic or defi-styled stablecoin market caps have accrued billions of dollars this past year. While Tether and USD Coin Eclipse the Market, Algorithmic Defi Stablecoins Still Shine Tether (USDT) is one of the oldest and the largest....
U.S. Senator Ted Cruz has introduced legislation to prohibit the Federal Reserve from issuing a central bank digital currency (CBDC) directly to individuals and competing with the private sector. The senator from Texas warned that not only would this CBDC model centralize financial information, leaving it vulnerable to attack, but it could also be used “as a direct surveillance tool into the private transactions of Americans.”
Senator Cruz Introduces Bill to Prevent the Fed From Issuing Digital Dollar to Retail Consumers
U.S. Senator Ted Cruz (R-TX)....
Decentralization of everyday aspects of our society is upon us, and as you would come to expect, government officials are not too keen on giving up their control and power. Airbnb is one of the most interesting projects in recent years, as it allows citizens to rent out their home for a short time to people looking for a place to stay. The idea of giving up your spare room(s) in exchange for a small amount of money, while being able to help someone in need, is exactly why Airbnb was created in the first place. Rather than continuing the trend of our selfish society, companies like Airbnb....
Of allBitcoin web-wallet providers as listed onbitcoin.org, Blockchain.info, Coinbase and Xapo are in favor of raising Bitcoin's block size limit from 1 to 20 megabytes as advised by Bitcoin Core developer Gavin Andresen, while Coinkite and GreenAddress have come out against the proposal. This means that Bitcoin's major wallet providers based on venture capital investments as well as the total amount of users – Blockchain.info, Coinbase and Xapo - all agree on Andresen's proposal to raise the maximum size of Bitcoin blocks to 20 megabytes. But with Coinkite and GreenAddress opposing the....
Conferences have become a big part of the Bitcoin community this year. Over a thousand people came to the Bitcoin conference in San Jose, and nearly every month since then we have seen some kind of Bitcoin event. We had Porcfest in June, BTC London and the Inside Bitcoins conference in July, and the regulatory compliance conference in New York in August. And this month, although it has not been nearly so widely publicized, there will be a Bitcoin conference as well, located in Amsterdam from September 26 to 28. The details for the event can be found on the conference's website. The....