Crypto company wants to decentralize the universe

HOME TECH BLOCKCHAIN CRYPTO COMPANY WANTS TO DECENTRALIZE THE UNIVERSE
Spacebit wants to decentralize the universe. To achieve this ambitious goal, the company has teamed up with Goonhilly, a satellite communications developer. Together, they want to use blockchain technology to tokenize their space missions, as Goonhilly reported on their website.

For a long time man has dreamed of conquering the universe. Accordingly, private space research has developed into a lucrative sector. One of the best-known non-state space companies is probably Elon Musks SpaceX. But with the possibility of private space travel (at least for the very wealthy among us), the danger of centralizing the commercialization of space also increases. What may sound absurd at first sight, reaches a special seriousness regarding the minerals and metals contained in asteroid belts in priceless value. Spacebit has therefore set itself the goal of decentralizing the universe and is cooperating with Goonhilly to this end.

To the moon is not enough for the Bitcoin revolution

Spacebit is committed to ensuring that everyone can participate in the future of space exploration. So far, this has only been reserved for centralised players such as very wealthy investors. The company employs engineers, rocket scientists, entrepreneurs, consultants and astronauts. They want to try to facilitate space exploration for all users. They use blockchain technology and the Bitcoin revolution to democratize access to space by tokenizing all their commercial missions into space. To carry out the pilot projects, Spacebit uses Goonhilly’s network of over 60 satellite antennas.

Goonhilly is a UK-based developer of satellite communications. The company provides a range of space-related connectivity and operational services to commercial outlets and governments. Using blockchain technology, Goonhilly aims to create new space-based business models that include lean management systems for recording advanced data and communication between ground and space stations. Ian Jones, CEO of Goonhilly, says about the cooperation with Spacebit:

“Exploring new commercial opportunities in space requires new ways of thinking. Many of the underlying techniques used in blockchain technology have strong parallels in existing secure communications technology. We look forward to working with Spacebit to discover innovative use cases and business models for blockchain-enabled space communications and show how they can be used.”

Everyone should participate in Bitcoin loophole

The results of the cooperation could soon enable us to invest in space expeditions – without having to have millions of Bitcoin loophole our disposal. Spacebit founder Pavlo Tanasyuk explains his company’s vision accordingly:

“Goonhilly shares our passion for exploration and a disruptive, entrepreneurial approach to the business. Today’s partnership aims to drive new economic models for space communications. We strongly believe that space exploration should be accessible to everyone; Blockchain is at the heart of this ambition and will lay the foundation for the automation of space communications and the democratisation of access to space data and satellite communications, driving the new space economy”.

Crypto company wants to decentralize the universe

Coinbase: New Assets for Custody Service

Coinbase is again thinking about the listing of assets – for Coinbase Custody. This time even XRP is included.

The announcements had no significant influence on the Bitcoin loophole

“Coinbase lists…” is the superlative to “Exchange xyz lists…”. Accordingly many see in a review from Coinbase the gospel of the bagholder. It is understandable: In this context, Bitcoin loophole experienced a price jump of 20 percent. It was only recently that considerations about a listing of Stellar, Cardano, 0x or BAT were sufficient to lead to a short price rally.

Like a cynical running gag these statements and listings had one thing in common: Ripple or XRP were not mentioned – much to the displeasure of the community around Ripple. To explain why some assets were listed and others weren’t, Coinbase introduced its so-called Digital Asset Framework. This framework explains which properties a crypto currency must have in order to be considered for a listing.

A few days ago it was therefore surprising that Coinbase now takes a closer look at 37 assets – including XRP. Together with the longer-supported ERC20 tokens, one gets the impression that Coinbase wants to build up a large collection of supported assets. But whether projects like Tezos or Telegram correspond to the Digital Asset Framework can be doubted. However, a closer reading is noticeable: These are possible assets for Coinbase Custody. A listing for GDAX or other Coinbase products is not planned.

Coinbase Custody: Not comparable with the news spy

Coinbase Custody is a service that offers the custody of large sums of money in the crypto area. BTC-ECHO has previously reported on this service. This is of particular interest to institutional investors, for whom the security of the news spy is of paramount importance. This topic is so interesting for larger investors that a few months ago it was also a topic at a seminar on crypto funds at the Frankfurt School of Finance. This is in partnership with ETC, this time not Ethereum Classic, but a SEC registered broker and member of FINRA, which could also be attractive for institutional investors.

It is important to point out that a listing of the 37 assets with other Coinbase services is not currently being considered. Furthermore an asset must correspond to the Digital Asset Framework for a real listing. For XRP it means to wait and see. Even if one can certainly interpret the separation by name from Ripple as a step that does justice to the Digital Asset Framework, the token concentration in Ripple’s escrow – currently still over 52 billion XRP – will still be an argument against a listing. But since Ripple has started a decoupling of XRP one can be curious where the journey goes here.

Coinbase: New Assets for Custody Service

Beta version of Bitcoins Lightning Network available

An early beta version of the Lightning Network for scaling Bitcoin can be tested on the testnet.

Lightning Labs, a San Francisco-based startup working on the Bitcoin protocol, has written a daemon for the Bitcoin testnet to implement the Lightning Network.

This new Bitcoin secret should also have a suitable user interface

Lightning Labs wants this beta version to give Bitcoin secret developers an opportunity to experience off-chain transactions. Off-chain transactions are the core idea with which the Lightning Network wants to solve Bitcoin’s scaling problem.

There were already some test implementations of the Lightning Network before, but according to the startup the one presented should be the most complete to date. So the presented version is supposed to provide possibilities to open and close channels and for transactions to find a path through the network.

Joseph Poon is one of the authors of the white paper that first introduced the Lightning Network to the world and co-founder of Lighning Labs. He says the idea behind the release is to get developers ready for the launch of the Lightning Network.

It will also make it easier for companies to quickly integrate the new concept into their existing business models. In addition there will be not only a Walkthrough, but a kind Faucet, which is to make a few Satoshis available to interested developers for test transactions.

Currently the developers mentioned must still operate a Node, in order to test the release, one works however eagerly on a version, which functions with a lite-client.

Beside Lightning Labs Bitfury, Blockchain Lab and Chaincode Labs participated in this release. Who would like to find out more about the features in the release is referred to the in-progress standards.

What does it take to adopt the cryptosoft Network?

The path between prototypes and the cryptosoft market can often be a long and rocky one like here https://www.forexaktuell.com/en/cryptosoft-scam/. It’s no different with the presented release of the Lightning Network, for the normal community using Bitcoin a release version is still far away: The current implementation of the Lightning Network is compatible with a Bitcoin testnet, but only to a limited extent with the currently running Bitcoin network.

The problem is that the Lightning Network works ideally with Segregated Witness or SegWit for short. The problem with SegWit is that although many in the community are enthusiastic about Segregated Witness, only 25% of the miners have installed a compatible client since November.

With the daemon release of the Lightning Network, Lightning Labs hopes that this version will be a further motivation in the direction of a soft fork in favor of Segregated Witness, as its implementation could also work without Segregated Witness, if the user experience is worse and the functionality is reduced.

Beta version of Bitcoins Lightning Network available

Study: Bitcoin connects Europe – Together against money laundering

While the Bitcoin exchange rate has been in the green again for a long time, authorities are again asking themselves the question: How can we regulate crypto currencies? How can these new currencies be brought within a reasonable framework? The answer: Europe must work together.

And what about the Bitcoin revolution?

The Bitcoin exchange rate seems to have been moving upwards again for a long time, and the old coins are also looking good. While we are wondering when the cops will come and how to preserve some of the Bitcoin revolution ICO madness, the authorities are gnawing at the old questions:

How can you avoid using crypto currencies to launder money and finance terrorism? How can you cope with this new technology and ship it into regulated ferry waters?

100 pages of clarity
In a working paper of more than 100 pages, experts from the European Parliament of the Policy Department for Economics, Science and Quality of Life discussed Bitcoin and other crypto currencies. After a lengthy comparison of the top 10 crypto currencies with the highest market capitalisation, they come to the intermediate result: Most crypto currencies are not that anonymous at all. Nevertheless: outliers like Monero, Dash or Zcash threaten the security of the countries according to report, by making money laundering & CO. possible. Some papers later the result: Bitcoin and other crypto currencies can help to unite Europe:

“Crypto currencies are not bound by borders. Therefore, it is certain that the national level is not the right level to fight money laundering, terrorist financing and tax evasion via crypto currencies. The European level is better suited.”

Bitcoin loophole connects Europe

Fact: Bitcoin loophole is not a scam connects the European authorities. At least on paper. But the researchers are still thinking a little further: “But the international level is even more appropriate, since crypto activity is not limited by the European border either. Therefore, international cooperation, e.g. within the Bitcoin loophole UN Office on Drugs and Crime, the FATF and the Egmont Group, is crucial to the successful enforcement of rules to combat money laundering, terrorist financing and tax evasion.”

In the area of blockchain, however, it is not yet possible to venture into excessively deep waters. This new technology, on which crypto currencies are based, is too extensive and too diverse:

“As already mentioned […], Blockchain is a technology on which crypto currencies can run. However, the size of the blockchain is much larger than that of the crypto currencies. It can be used in a variety of sectors (e.g. commerce, healthcare, governance), has many promising applications, e.g. in relation to securities, the registration of shares, bonds and other assets, the operation of land registers, etc.”.

European scientists conclude that the technology is, in principle, innocent:

“It would be too blunt to associate the blockchain with money laundering, terrorist financing or tax evasion. It is only a technology that is not intended to launder money, facilitate the financing of terrorism or avoid taxes. It has many applications throughout the legal economy. It would not be advisable to discourage future innovations in this respect by banning the blockchain and its use cases […] because of […] crypto currencies”.

Finally, the research group refers to the forthcoming G20 decision, from which they hope for more clarity. Perhaps it will then also work at the international level – depending on how willing one is to negotiate overseas.

Quo vadis, Europe?
So the classic: Blockchain is innocent, Bitcoin tempts you to commit crime. Just a small thought-provoking impulse: Who does it lead to crime? And how does that happen? Keyword: Combating symptoms. But let us let our readers know what this is all about.

What is remarkable about these findings is that it takes thousands of years of human development to arrive at a rather poor result. So it seems that you have to write a 100-page research paper to see that there are problems that cross borders.

Study: Bitcoin connects Europe – Together against money laundering

Münster goes Blockchain – First Meetup for Crypto Currencies in Münster

Meetups on blockchain and crypto currencies usually take place in cities like Berlin, Frankfurt or Munich. Thanks to Pascal Tilgner, a Meetup was initiated this Monday in the tranquil student city of Münster (almost 300,000 inhabitants). On Meetups of this kind short lectures to different topics are held on open basis. Several organizers meet and sign up for corresponding topics.

This was the first time an exchange platform for people interested in crypto currency had been created in Münster – the demand was correspondingly high and BTC-ECHO was of course there.

The first serve on Monday evening was made by organizer Pascal Tilgner, who gave a 15-minute lecture on the role of Bitcoin from an investor’s point of view. Pascal himself is a successful entrepreneur and explores the investment opportunities offered by the digital currency.

Why invest in Bitcoin at all?

pascal-tilgnerAt the heart of his presentation was the question of what are the reasons for investing in Bitcoin and what are the similarities and differences to other asset classes. He explained the basic characteristics of the individual asset classes, so that it was clearly shown how Bitcoin can be classified and distinguished from equities, bonds, commodities and the like.

Which quickly became clear: There are good reasons to invest in Bitcoin. After all, many asset classes are already quite highly valued by the expansive central bank policy, so that the risk/reward ratio, especially for bonds, is no longer attractive. Bitcoin, on the other hand, represents an antipole to asset inflation, since its maximum number of units (21 million Bitcoin) provides a kind of inflation protection. Of course, this is not the only reason that makes Bitcoin attractive as an investment. Due to its independence from political institutions, Bitcoin has also been able to prove itself as an escape currency, as demonstrated by the Brexit vote, for example, in the form of a rise in Bitcoin’s share price.

This recently published BTC-ECHO article is recommended to anyone wishing to find out what the Bitcoin share price potential for 2017 looks like and what other reasons speak for or against a Bitcoin share price rise.

Monereo – A truly anonymous currency

bastian-blekerThe second lecture was by Bastian Bleker and dealt with the crypto currency Monero, whose core feature is anonymity. After all, Bitcoin is only a pseudoanonymous currency, since the alphanumeric Bitcoin address after each Bitcoin transaction allows a concrete assignment. Exactly this assignment is missing with Monereo. Ring signatures bundle several transactions so that it is no longer possible to identify a single transaction. In a nutshell: Several transactions become a single transaction, which then no longer allows any conclusions to be drawn about their origin.

As you can imagine, this is particularly attractive for Darknet platforms to handle illegal transactions. The deepweb platform Alphabay quickly accepted Monero as a means of payment, which helped Monero to gain popularity. However, Monero also offers the option of removing anonymisation in order to guarantee transparency. However, the currency is not completely mature; for example, there is a lack of practical applications such as graphical interfaces that can be operated by average users without knowledge of command line commands.

Münster goes Blockchain – First Meetup for Crypto Currencies in Münster