Blockchain exploration service Blockchair has launched a new analytics tool. Blockchair Feed decodes the messages that are written into the BCH, BTC, and ETH networks. The results can be viewed in a real-time feed comprised of messages that range from the banal to the enigmatic.
Feast on a Banquet of Messages with Blockchair Feed
Blockchain explorer Blockchair is widely used by the bitcoin cash and core communities for searching for transactions and checking data pertaining to market prices, dominance, and network performance. It’s also one of the few blockchain explorers that enables users to search for specific words or phrases hidden in transactions. Its latest tool goes a step further and decodes these messages in realtime as they are published on each of the three blockchains.
Blockchair Feed provides a fascinating and occasionally bizarre glimpse into the conversations that people are having, sometimes with specific people, and sometimes with the world at large, via their favorite blockchain. Most of the messages that can be viewed in the feed come from the BCH network. That’s largely thanks to the success of micro-blogging social networks such as Memo and Blockpress. Each of these capitalizes on the low fees of bitcoin cash, making it practical to message other users via the OP_Return field. Thanks to the recent upgrade to the BCH network, the size of this field has increased, giving rise to even more possibilities for onchain communication.
Of the two social networks, Blockpress has the cleaner UI which is reminiscent of Twitter. After creating a profile, header, and username, users can dispatch short messages that include emojis. Judging by the spate of messages appearing in the Blockchair Feed, however, Memo is the busier of the BCH social networks at present. As previously reported by news.Bitcoin.com, people have been encoding messages in blockchains for years. The BTC blockchain, for example, contains six marriage proposals. Now, thanks to the rise of tools such as Blockchair Feed, coupled with services like Memo and Blockpress, reading those messages – and even replying to them – has gotten a lot easier.
Have you tried using Blockpress or Memo yet and if so what are your thoughts on these services? Let us know in the comments section below.
Images courtesy of Shutterstock, and Blockchair Feed.
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Although the market is positive overall, at the time of writing, the sentiment is quite negative. Maybe due to the high expectations over Consensus, which did not create that much demand over bitcoin, at least not as much as it happened during previous years. I understand it’s your money that is at stake and the
Fundstrat’s Tom Lee admits that his Consensus BTC rally prediction ‘did not happen,’ but still expects Bitcoin to reach $25k by year end
A notable week for Bitcoin Cash (BCH) – the network successfully upgraded the blockchain protocol by extending the block size to 32MB. The change will allow a greater number of transactions to be processed with inexpensive and consistent transaction fees. Also, Seminole County in Florida will accept tax payments in both Bitcoin Cash (BCH) and Bitcoin Core (BTC) thanks to a partnership with Bitpay.
Bitcoin Cash Upgrades Blockchain Protocol
The Bitcoin Cash network has smoothly and successfully upgraded the blockchain protocol this Tuesday by extending the block size from 8MB to 32MB. The implementation of the new consensus rules went into effect at block height 530356.
The change represents one of the largest block size increases in blockchain history. The upgrade also includes an increased default data-carrier-size, from 80-bytes to 220-bytes, and re-enabling previously disabled Satoshi OP_Codes, which could add the ability to code colored coins and binary contracts.
The fourfold block size increase will allow vast amounts of transactions to pass through the network with consistent and inexpensive transaction fees. It also gives developers plenty of breathing room to adjust the size if it starts getting closer to its limit and paves a path for mass adoption. The block size limits are currently set by the miner, and developers are able to set the capacity so that blocks cannot get full in the immediate future. This means that the fees will remain low for quite some time and also reliable, even when transaction usage becomes as extreme as in the last quarter of 2017.
Bitpay Enables BCH and BTC for Tax Payments in Florida County
US-based crypto payment processor Bitpay has announced a formal agreement with Florida’s Seminole County Tax Collector, Joel M. Greenberg. Both Bitcoin Cash (BCH) and Bitcoin Core (BTC) can be used for tax payments starting this summer. County residents will be able to pay in crypto for driver licenses, ID cards, and even property taxes.
“We live in a world where technology has made access to services on demand, with same-day delivery and the expectation of highly efficient customer service, and we should expect the same from our government,” Greenberg said. He added that the aim of his tenure in office is to make customer experience faster, smarter, and more efficient, and to bring government services from the 18th century into the 21st. One way to achieve that, the official says, is to add cryptocurrency to the available payment options.
China Ranks Almost 30 Cryptos, Finds Over 400 Fake Coins
The government of China, one of the first to ban cryptocurrencies like bitcoin, has come out with official crypto rankings. The Chinese Center for Information Industry Development (CCID) will be judging leading digital coins according to three major criteria – innovation, technology, and application – although details about the applied methodology are yet to be shared. A total of 28 cryptocurrencies and their respective blockchains have been ranked. Of the top four coins by market capitalization, Ethereum was ranked first, followed by Bitcoin Core (BTC) at number 13, Ripple is 17th, and Bitcoin Cash (BCH) – 25th. The Chinese top five include Ether, Steem, Lisk, NEO, and Komodo.
Another sign of growing attention to cryptocurrencies in China is the publication of a report on fake coins by a government-backed industry organization. The National Committee of Experts on the Internet Financial Security Technology (IFCERT) has identified 421 fake cryptocurrencies. The organization pointed out that 60% of these cryptos are deployed overseas. IFCERT also outlined some major red flags of the fake coins. According to the Committee, they often adopt “pyramid-based” business models and claim high returns. The cryptos have no real code – they either do not have a blockchain or cannot generate blocks for one. These coins are not traded on legitimate exchanges, the report also notes.
US Government Launches Scam Crypto Site
The US Securities and Exchange Commission (SEC) has created and published its own version of an initial coin offering (ICO) scam website. “Combining the two most growth-oriented segments of the digital economy, blockchain technology and travel, Howeycoin is the newest and only coin offering that captures the magic of coin trading profits and the excitement and guaranteed returns of the travel industry,” the mock SEC website claims. It promises partnerships in all segments of the travel industry and “earning coins you can trade for profit.”
“The rapid growth of the ‘ICO’ market, and its widespread promotion as a new investment opportunity, has provided fertile ground for bad actors to take advantage of our Main Street investors. We embrace new technologies, but we also want investors to see what fraud looks like, so we built this educational site with many of the classic warning signs of fraud,” SEC Chairman Jay Clayton explained. He also noted that distributed ledger technology can add efficiency to the capital raising process, but promoters and issuers need to make sure they follow the securities laws. “I encourage investors to do their diligence and ask questions,” Clayton said.
EU Adopts Rules to Reduce Anonymity for Crypto Users
This week, the European Union moved closer to its goal to minimize anonymous crypto transactions. The EU Council adopted a directive, which updates the European anti-money laundering legislation. The new rules come with requirements for crypto platforms to introduce know-your-customer procedures. The amendments were adopted at a meeting of the General Affairs Council on Monday, following an agreement with the European Parliament form December. In April this year, MEPs voted to support the deal to “bring cryptocurrencies under closer regulation.”
The main changes involve addressing the “risks linked to virtual currencies” by taking steps to reduce anonymity for both crypto traders and crypto-related transactions. Providers of exchange services between virtual and fiat currencies, as well as custodian wallet providers, will be obliged to identify suspicious activities. The directive states that authorities should be able to monitor the use of cryptocurrencies through these platforms, and the national financial intelligence units should have access to information allowing them to associate crypto addresses with the their owners.
South Korean Regulators Widen Investigation of Crypto Exchanges
The government in Seoul is widening its probe on cryptocurrency exchanges focusing on the use of corporate accounts for crypto transactions, which the regulators say can lead to money laundering. The practice should have been discontinued when authorities introduced the real-name system at the end of January. However, only 30% of all crypto accounts have been converted into real-name ones so far. South Korea’s top financial regulators are now teaming up with prosecutors to widen the investigation.
The six banks that can issue real-name accounts have chosen to only service the country’s largest crypto exchanges: Upbit, Bithumb, Coinone, and Korbit. Nonetheless, not all accounts at these exchanges have been converted into real-name ones. In addition, all small and medium-sized exchanges continue to use corporate accounts for crypto transactions. The regulators warn that the use of corporate accounts can lead to fraud. The announcement of the widening probe follows the launch of an investigation on the largest South Korean crypto exchange, Upbit.
What are your thoughts on the top stories we’ve covered this week? Let us know in the comments section below.
Images courtesy of Shutterstock.
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Suffocating under your government’s strict business and monetary policies? Head to the seas. To be more precise, create an island of your own that has its own government and uses cryptocurrency as its main tender. The oceans are the solution to a heavily polluted planet and policies that harm business growth. The startups BlueFrontiers and … Continued
The post Crypto Utopia: Man-Made Floating Pacific Islands Will Accept Cryptocurrency appeared first on CCN
Move over Cryptokitties. The ethereum network has a new batch of games to blame for rising gas fees. Over the past week, the viral success of dapps such as Ether Shrimp Farm, Ether Cartel, and Pepe Farm has congested the ethereum blockchain, questioning its readiness for enterprise adoption.
Ethereum Endures a Plague of Frogs and Shrimp
In the same week that Fedex announced plans to build a logistics tool on the ethereum network, fresh doubts over its readiness for enterprise use have emerged. A clutch of new games, created and nurtured in the depths of 4chan, has raised gas prices and show the fragility of the blockchain in its current state. While not as fatal as Cryptokitties, ethereum’s first viral onchain game, Ether Shrimp Farm and its spin-off Ether Cartel have still taken their toll on the network.
The former dapp requires users to hatch and sell shrimp in a bid to maximize production before ultimately exchanging eggs for ether. Ether Cartel, meanwhile, takes the same concept and applies it to drug running. The game “features a high tech automated market that lets you instantly buy or sell drugs with a single transaction. The more kilos you have, the more drugs they produce (each kilo produces at a rate of 1 per day). Collect more kilos with your drugs to multiply your production.”
Meme Games Top the Charts and Up the Gas
After amassing 26,000 transactions in just 24 hours, 4Chan’s ethereum games saw gas fees more than double to $0.2. They have since settled at just over $0.1 per transaction according to Eth Gas Station but the games, including Ether Anthills and Pepe Farm, still occupy 9 out of the top 10 spots in Dapp Radar’s new dapps category. Ether Cartel and Fish Farm also occupy third and fourth in the top 10 for all dapps, just behind IDEX and Forkdelta. In the last week, Ether Shrimp Farm alone has been responsible for 43,000 transactions.
While many people have seen the amusing side of all this, not everyone is impressed. As one commenter pointed out, “If the 2nd largest cryptocurrency can be destroyed by cryptokitties and shrimp farms then it isn’t ready for prime time and we have a long way to go before mass adoption. These games may seem stupid, but they serve as valuable stress tests for the ecosystem as a whole, and show where the weak points lie.”
There are ways to design dapps so that they don’t require every single action to be performed onchain. Ethereum social network Peepeth is an example of this. The mischief-makers behind the likes of Ether Shrimp Farm, however, revel in the wreckage caused by the runaway success of their games. Like all memes, these dapps will soon die off, but will eventually be replaced by new blockchain-clogging contenders, much to the annoyance of other ethereum users.
What do you make of meme blockchain games – harmless fun or a waste of time and gas? Let us know in the comments section below.
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Lloyd Blankfein, 63, is expected to step down as CEO of Goldman Sachs in December, leaving the bank’s future uncertain in several ways, including its relationship with bitcoin. The New York Times reported that Blankfein will likely depart following the company’s December annual dinner for retired partners. While the bank earlier this month announced plans
The post Goldman Sachs CEO Blankfein to Step Down, Bestowing Complex Bitcoin Relationship appeared first on CCN
Japanese crypto exchange Coincheck officially announces it will end trading of four privacy-oriented altcoins XMR, ZEC, DASH, and REP in June
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In yesterday’s report, CCN noted that Aelf, the decentralized cloud computing blockchain network developed by a team of Chinese developers, increased by more than 17 percent against bitcoin. Today, on May 20, the price of Aelf increased by another 10 percent, becoming the second best-performing cryptocurrency in the market for two straight days. Trend of … Continued
The post 0x, Zilliqa, Aelf, and Ontology Record 10% Gains as Tokens Outperform Bitcoin appeared first on CCN