OffCoin: Making Offline Bitcoin Transactions Possible?
Most bitcoin transactions these days require users to be online in order to input their public and private keys before accessing their funds and authorizing transfers. OffCoin proposes to make offline bitcoin transactions possible by allowing keys to be stored in microSD cards in mobile phones in order to transmit private keys without going online. With that, OffCoin can be able to move bitcoin between mobile phones even without needing to pay the costs associated with accessing the blockchain. This could allow bitcoin transactions to take place through Bluetooth, NFC, or QR codes. Offline....
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As an Internet-based payment system, most bitcoin transactions today necessitate that users are online or otherwise can print and exchange private keys. However, Romanian mobile payments provider Netopia mobilPay is now backing a proposal that strives for a middle path. Called OffCoin, the proposal is for a system that allows microSD cards in mobile phones to generate, store, transmit and delete bitcoin private keys. In effect, OffCoin would be capable of moving digital currency between mobile phones without requiring users to be connected to the Internet or needing to pay the cost of....
It's a common theme in conversation that Bitcoin has not yet reached its true, unlocked potential. There's no question that the developed protocol is at the brink of human technological advancement, but there are still more ways to utilize Bitcoin and move forward. Counterparty is one of those steps forward into Bitcoin 2.0. It's a person-to-person decentralized exchange that allows users the ability to create their own tokens for bitcoins and Counterparty currency (XCP). Now, Counterparty users can produce unsigned transactions that can be signed by an Armory offline wallet, making it the....
The Ghanaian central bank is seeking to make its digital currency, the e-cedi, available to offline users, an official with the bank has said. Overcoming the Challenge of Limited Power According to Kwame Oppong, who heads fintech and innovation at the Bank of Ghana (BOG), the e-cedi is also expected to facilitate transactions without the need for power or connectivity. “Financial inclusion is limited by the availability of connectivity and power. What we hope to be able to do – and we’re one of the people pioneering this – is that the e-cedi would also be....
Offline CBDC functionality will help bring financial services to Ghanans who lack access to bank accounts or an internet connection. Ghana is working to develop offline capabilities for its forthcoming central bank digital currency (CBDC) in a bid to promote its use across all segments of Ghanan society.According to a Oct. 18 report from Bloomberg, Kwame Oppong, head of fintech and innovation at the Bank of Ghana (BoG), revealed that the country's digital currency “e-cedi” will support offline transactions during the Ghana Economic Forum on Monday.Oppong emphasized that offline....
Following a distributed denial-of-service (DDoS) attack that targeted its server yesterday, European bitcoin exchange operator BTC-e continues to be offline. Bitcoin and alt.coins exchange BTC-e was knocked offline for several erratic hours yesterday. Users took to social media to speculate the reasons for the cause of the attacks with some stating that BTC-e was hacked, rather than being the target of a DDoS attack. In providing some clarity with the situation, the exchange’s Twitter account revealed: Furthermore, concerns raised from whispers of a hack seem to be unfounded with no real....