Bitcoin wallet service

In addition to financial giants such as PayPal, many mainstream financial technology companies are expanding traffic and revenue by improving cryptocurrency services. For example, CashAPP also achieved extraordinary results this year. The payment unicorn Square launched by Twitter CEO Jack DorseyBitcoin wallet service (Jack Dorsey) launched bitcoin purchases in its CashApp in mid-2018, and CashApp has contributed $0.6 billion in bitcoin in its latest earnings report. income.

The new website inferred the cost of implementing 51% of each PoW currency. It calculates the cost of an attack for 1 hour. For a typical PoW coin, at least 6 blocks can be confirmed in 1 hour. The attacker can initiate a double spend through this process, and finally deposit the obtained funds in Exchange.

On November 16th, BCH split into two chains: BCH and BCHSV. We continued to monitor related risks and noticed that relevant exchanges/wallets have suspended deposits and withdrawals. Since the two chains after the fork are not protected against replay, it may cause a transaction initiated on one chain to perform a replay attack on the other chain, causing property damage to related objects (depending on the actual attack scenario).

Some industry insiders have analyzed that which chain can dig 6 blocks ahead of the other party will win. But after parting ways for nearly 2 hours, the ABC chain is longer than 6 blocks in the SV chain. Even before publication, the ABC chain has slightly left the SV chain (more than 16 blocks). But no one declared victory or withdrew.

White pointed out that Wall Street is ready to package digital assets to mass investors-especially because cryptocurrencies are for millennials (pointing out that they were born in the 20th century as minors and reached adulthood after entering the 21st century (ie 2001). Age generation) has a strong appeal. Since 2017, people's interest in Bitcoin and other currencies has shifted from retail investors to institutional investors, but the level of infrastructure of existing trading websites often fails to meet their expectations, which is why they stand by. White believes that big banks need to provide cryptocurrency exchanges that are as secure as stocks, bonds or gold trading, which is why he joined Bakkt.

Bitcoin's ambition is nothing but to develop a new digital currency to compete with the US dollar. Ten years later, it is obvious thBitcoin wallet serviceat every central bank and financial institution in the world has heard of Bitcoin. Now, with the existence of multiple large-scale digital dollars, there is a real possibility of launching a blockchain-based digital currency, and Bitcoin is ranked 40th in the market value of fiat currencies. It is not a lie to say that Bitcoin has changed the world and is likely to compete with the US dollar.

The word Wumbology comes from "SpongeBob SquarePants", and SpongeBob's friend Paidaxing invented this word, which means "huge". In the Lightning Network, it means that the channel is getting bigger and bigger. Currently, the Lightning Network has a channel size of 0.16 BTC and a payment limit of 0.04 BTC.

But the reality is that technology is constantly improving. There will be new hardware facilities and software technologies, and there will be brand-new needs, requiring certain improvements in the blockchain protocol. The most ideal way is that the blockchain can be sufficiently low-level, flexible enough, and simple enough to avoid too many changes as much as possible when it needs to be upgraded.

The flood broadcast-based method in Bitcoin is obviously not the best method to spread transactions within the network. Nodes will receive multiple copies of each transaction and must forward them to each connected node. This results in consuming a lot of bandwidth and causing unnecessary overhead. It also encourages nodes to connect to fewer other nodes, because each other node increases the bandwidth of each transaction.