On August 31 the CEO of the firm Viabtc, Haipo Yang, published a blog post proposing the establishment of a standardization organization like the World Wide Web’s W3C consortium. Haipo Yang wants to start a similar group called the Bitcoin Cash Standard Organization (BCSO) in order to create standards and achieve better transparency when it comes to BCH consensus proposals.
Viabtc’s Haipo Yang Proposes to Initiate a Standardization Group Called the Bitcoin Cash Standard Organization
There are many large organizations like the Linux Foundation and W3C that work together to create standards in the world of computers and the internet. Haipo Yang the founder of the blockchain development firm and mining pool, Viabtc, wants to create a similar organization for Bitcoin Cash (BCH) development standards. The Viabtc CEO says Bitcoin is a consensus protocol that “should be defined by documentation instead of software codes.” In order to avoid incompatibility and possible blockchain splits, Yang believes client protocols should be very careful when making code changes. To begin creating standards and documentation Yang proposes the initiation of a BCH-centric standardization organization.
“Together we will standardize Bitcoin by establishing the Bitcoin Cash Standard Organization (BCSO) — BCSO will give the definition of “Bitcoin” with standard protocol documentation. With the BCIP (Bitcoin Cash Improvement Proposal), BCSO will collect advice and suggestions of protocol standard as well as feedbacks for BCIP from the community,” Yang explains during his proposal announcement.
BCSO will regularly release the BCIP with updated standard documentation and help all clients with the updates — BCSO will also hold developer conferences to explore new Bitcoin technologies and growth.
Helping the Bitcoin Cash Community Reach Broad Consensus
Yang thinks the creation of the BCSO will make future Bitcoin consensus changes more public and transparent. When submitting BCIPs programmers should include documentation and test results, so BCH participants can get a better understanding of what is happening with development.
“BSCO will allocate BCIP No. for each proposal, collect suggestions from the community and call votes for the proposal via a method that’s commonly agreed by the community,” Yang concludes. “According to the result of BCIP, BCSO will update the Bitcoin Standard Protocol regularly and set a timetable for software implementation and network activation in coordination with the network upgrade.”
I believe that Bitcoin Cash Standard Organization (BCSO) will guarantee the development for Bitcoin, and help the community reach the broadest consensus.
What do you think about Viabtc’s CEO Haipo Yang proposing a standardization organization? Let us know your thoughts on this subject in the comment section below.
Images via Shutterstock, Pixabay, and Twitter.
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This past week has seen progress in two aspects of Bitcoin: privacy and payments. Attitudes toward blockchain technology are also showing progress as two surveys reveal. And yet, regulation does not necessarily seem to be keeping pace.
Here are some of the stories that we’ve been following at Bitcoin Magazine.
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Advances in Bitcoin Technology
This week, two of our top stories explored recent advancements in Bitcoin development. First, we examined a new protocol that is working toward improving privacy of Bitcoin transactions. Dandelion, a protocol developed by postdoc Giulia Fanti and other researchers from Carnegie Mellon, MIT and the University of Illinois, would effectively neutralize the peer-to-peer analysis that plays a significant role in compromising user identity.
Solving the problem of allowing users to make trustless transactions between lightning addresses and on-chain addresses in either direction, “Submarine Swaps” are now live (though still in early stages of operations). The technology could be a game changer for both Bitcoin lightning and mainnet users, as it would remove the transaction barriers between them.
Two separate studies have found that interest in blockchain technology is on the rise. A PwC global survey discovered that of the corporations surveyed, the number of companies that are using or exploring using blockchain technology is growing, and that there is also an increase in trust among the companies that have heard of the technology.
Meanwhile, the next generation of blockchain entrepreneurs, developers and users is also showing an interest in learning more. A recent survey, commissioned by Coinbase in partnership with Qriously, sampled 675 U.S. students, and it found that students across all majors have an interest in blockchain technology.
Hurdles in Cryptocurrency Regulation
Canada’s decision to put off any decisions regarding the regulation of cryptocurrencies and blockchain companies until after the next round of federal elections has been met with mixed reactions. Some see it as a sign that the government is backing away from the strict set of recommendations that were put forward in June of this year. Others are concerned that putting off regulatory clarifications will hamper industry growth in the country.
In Venezuela, the government has ordered all domestic banks to disclose the IP addresses, financial details, transaction amounts and locations of all citizens who access their banking services from outside the country. This move has Bitcoiners concerned that the government is trying to interfere with their ability to use cryptocurrencies for remittances, with particular implications for people using LocalBitcoins to trade their bitcoins for fiat.
This article originally appeared on Bitcoin Magazine.
On Friday Aug 31, Tron (TRX) crept higher than the day before, but the momentum was already fading out by noon. The crypto is now trading at $0.0247, which is lower than early this week, says Dmitriy Gurkovskiy, chief analyst at RoboForex. Technically, the overall long-term trend is still descending, and it will be this
The post Tron Price: The 12th-Largest Cryptocurrency Continues to Range Trade appeared first on CCN
Firefox will block cryptojacking malware in future versions of its web browser as part of an anti-tracking initiative
Bessarabsky market, a landmark of Ukraine’s capital, is introducing crypto payments. Fruits and vegetables are already sold for a number of cryptocurrencies including bitcoin cash (BCH). The initiative to offer the alternative payment option aims to show how simple it is to use cryptocurrency in everyday life.
Also read: New Bill Clarifies Crypto Taxation in Poland
BCH and BTC Accepted for Fruits and Vegetables
Kiev’s historic Bessarabsky market, an indoor marketplace located in the center of the capital city, is accepting cryptocurrencies, the public communal company that operates it announced on Facebook. Locals and visitors can now buy fresh produce with a variety of digital coins thanks to a partnership with crypto payments processor Paytomat.
Currently supported are payments in bitcoin cash (BCH), bitcoin core (BTC), bitcoin gold (BTG), litecoin (LTC), ethereum (ETH), nano, dash, waves, EOS, and NEM. During this initial, experimental stage customers can spend their crypto at a fruits and vegetables stand. However, a vegan street food cafe at the market is also preparing to launch crypto payments soon. Purchases are made through a QR code scan and sellers should receive the payments in fiat Ukrainian hryvnias after instant conversion.
The cryptocurrency payment option will offer buyers a new experience and attract crypto enthusiasts, according to Bessarabsky market’s managing director, Nikolay Kovalchuk, quoted by the Ukrainian outlet Bykvu. He also hopes for an increase in customer loyalty that will lead to sales growth. The market, which is one of Kiev’s landmark sites, is frequented by foreign tourists as well, and for many of them crypto payments are known and convenient.
‘Babushka’ Shows How Easy It Is to Spend Crypto
The project, which has been named “Babushka” (Granny), aims to demonstrate the simplicity of using cryptocurrency in everyday life. According to Alexander Kurin, operations director at Paytomat in Ukraine, the hardest part is to convince sellers they are going to get their hryvnias after the crypto payment is processed. He told Forklog:
The main idea is a symbiosis between traditions and innovations. We chose the Bessarabsky market because it is a well-known tourist destination, and cryptocurrencies are a universal means of payment in any country.
Paytomat has been working to introduce cryptocurrency payments in a number of cafes, restaurants, online stores, and even clinics, schools, and beauty salons, the Ukrainian outlet notes. Businesses and merchants using its services are spread across Europe, from Ukraine and Georgia in the East to the Netherlands and Spain in the West.
The platform offers several payment solutions including POS terminal, web panel, QR code and WordPress plugin. As news.Bitcoin.com reported earlier this year, the Paytomat supports 11 cryptocurrencies and works with more than 330 restaurants and stores.
What do you think about Bessarabsky market’s initiative to introduce crypto payments in Kiev? Tell us in the comments section below.
Images courtesy of Shutterstock, facebook.com/bessarabskiyrinok, Paytomat.
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Bitfi has removed the “unhackable” title from its wallet and ended its bounty program after several reportedly successful attempts by researchers