Bitcoin’s Possible Privatization: Has Blockstream Created Problem to Provide Solution?
Is the scaling effort leading to Bitcoin’s privatization? NodeCounter.com accuses Blockstream of crippling Bitcoin for financial gain. Since Blockstream got involved in the scaling of Bitcoin, the issue of Bitcoin privatization has sprung up. Blockstream President Adam Back is of the view that a plan for scaling Bitcoin to handle more users over the next few years would double the on-chain transaction capacity on the network three years in a row, while simultaneously allowing for the development of layer-2 solutions, such as the Lightning Network, which could allow for millions or billions....
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Former Bitcoin Core developer and current R3 employee, Mike Hearn, has claimed that Blockstream – a blockchain-based startup comprised by a group of Bitcoin core developers is the source of the refusal behind Bitcoin’s block size increase. He also cites that Bitcoin’s “leader” is Blockstream co-founder and CTO, Gregory Maxwelll. In a post made on a public forum today, Hearn directly asserts that Blockstream co-founder and CTO Gregory Maxwell – also a Bitcoin Core developer – is the reason for the refusal to “bump” Bitcoin’s block size. Beyond the revelation, Hearn directly calls Maxwell a....
Using the latest cryptography, Blockstream has created Confidential Transactions designed to improve Bitcoin’s user security by keeping the amounts sent visible only to participants in the transaction, or other specified parties. Many have tried to improve on Bitcoin transactional security, with Darkcoin/Dash being the most notable example through their own altcoin. With the innovations inside chain technology, Blockstream has created Confidential Transactions (CT). Using the latest cryptography, Confidential Transactions is designed to improve Bitcoin’s user security by keeping the....
Bitcoin infrastructure architect Blockstream has acquired wallet provider GreenAddress in a move the startup says could impact the development of its signature, still in-development sidechains solution. Following the acquisition, GreenAddress Wallet's team of three developers will continue to work on privacy and security bolstering features for the wallet as well as compatibility for sidechains, a bitcoin infrastructure component that Blockstream has raised $76m in two investment rounds to engineer. In interview, former GreenAddress founder and CEO Lawrence Nahum, now senior architect at....
It’s all about the Lightning Network in Bitcoin land. This decentralized micropayments system unlocked Bitcoin’s scalability problem and unleashed the possibility of hyperbitcoinization into the world. Not only that, since this Layer 2 solution was created with the Bitcoin ethos in mind, it offers similar security guarantees. It all runs over the Bitcoin blockchain, even […]
A firm called Mosaic Ventures based in London has revealed they were a participant in the $55 million Series A financing for the company Blockstream. They also invested in the business in 2014 at a time when Bitcoin was claimed to be dying, and centralized blockchains were coming into the industry. However, the investment firm says the company is made up of “long-term believers” of the technology and it sees a lot of potential with the Blockstream business model. Mosaic Ventures was founded in 2014 by Simon Levene, Toby Coppel, and Mike Chalfen. The company states its invested across ten....