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Mysterium Releases Whitepaper Showcasing Ethereum-Based Decentralised VPN

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<a href="https://cdn4.cryptocoinsnews.com/wp-content/uploads/2015/12/Global-nodes-400x267.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="213" src="https://cdn4.cryptocoinsnews.com/wp-content/uploads/2015/12/Global-nodes-400x267.jpg" width="320" /></a>Mysterium have released their white paper showcasing a new model for a blockchain-based virtual private network (VPN). Mysterium [1] is developing the first fully decentralised and distributed VPN in an effort to safeguard online privacy. The whitepaper, released for comment today, outlines their vision for a global peer to peer network that combats the risk of cybercrime.<br /><br />The internet today is neither open nor private. Large corporate entities are increasingly self-proclaimed gatekeepers of the web causing it to operate as a centralised service. The problem with this trend is that we are now subjects of wide-scale data harvesting. There are big economic benefits to be gained from selling browsing data, but invasive online surveillance tactics are putting our security at risk.<br /><br />Mysterium is tackling the problem with a new vision for a fully decentralised VPN service that puts users privacy first. The white paper outlines a protocol that is designed to ‘dissolve’ users data through a process of shredding, encrypting and sending it deep into the Network. The Mysterium platform is designed to provide this security layer on demand, whether browsing at home or in a public WiFi hotspot. Mysterium can also be used to protect sensitive data against cybercrime for example, in healthcare, BFSI and telecommunications industries.<br />
So how does it work? Mysterium pools computing power to create a distributed network of nodes. Nodes are then made available to those needing secure VPN connections on demand. Users who share their excess bandwidth to the network can earn MYST tokens in reward. MYST is the native token of the Mysterium network operating as an access and permissions token. An inbuilt trading platform called CORE will manage the give and take of services on the network through a proof of contribution protocol.<br /><br />According to MarketResearchFuture [2] the global VPN market is expected to reach $106 billion by the end of 2022 with cybersecurity as a ‘major driving factor’. With it’s mission to  provide privacy to all Internet users Mysterium are bringing cybersecurity into sharp focus. The Mysterium team firmly believes in a future where users are protected from being subjects of corporate and government interests. Mysterium will be a key platform to powering this future with the highest levels of transparency, resiliency and security.<br />
                                      <a href="https://www.cryptocoinsnews.com/mysterium-releases-whitepaper-showcasing-ethereum-based-decentralised-vpn/" target="_blank">Source </a><br />
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Mysterium Releases Whitepaper Showcasing Ethereum-Based Decentralised VPN

Mysterium have released their white paper showcasing a new model for a blockchain-based virtual private network (VPN). Mysterium [1] is dev...

University of Surrey Wins Funding to Test the Blockchain

Admin 0 6:12 AM

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The University of Surrey has won three bids to test the blockchain in initiatives focusing on voting, digital archives and healthcare.<br /><br />The reward, which amounted to £1.1 million, came from the Engineering and Physical Sciences Research Council (EPSRC).<br /><br />The healthcare project ‘Co-operative Models for Evidence-based Healthcare Redistribution (CoMEHeRe) will begin on 26 June and will run for 18 months. According to the University, it aims to improve on a person’s healthcare through the management of biometric information. This will be made possible through wearable devices. The blockchain will be employed to collect data from the wearable devices while machine learning will ensure that data is accessed and shared with private healthcare providers.<br />
<a href="https://cdn4.cryptocoinsnews.com/wp-content/uploads/2017/05/University-of-Surrey-375x250.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="213" src="https://cdn4.cryptocoinsnews.com/wp-content/uploads/2017/05/University-of-Surrey-375x250.jpg" width="320" /></a>‘Trusted and Transparent Voting Systems,’ will be the second project and is expected to begin at the start of June, lasting for a period of two years. Teaming up with the King’s College London, the two will work together as they develop an electronic voting system that is trustworthy and effective.<br /><br />The third and final project, ‘ARCHANGEL – Trusted Archives of Digital Public Records,’ is currently underway. In collaboration with the U.K.’s National Archives and Tim Berners-Lee’s Open Data Institute, the intention is to create new technology with the aim of developing digital archives that are sustainable.<br />Blockchain’s Development in Healthcare<br /><br />With the increased development of Bitcoin’s distributed ledger, more industries are turning their attention to the blockchain.<br /><br />With many claiming that the DLT has more potential than that of its digital currency, it’s only natural that establishments are keen to find out how it can improve the services they offer.<br /><br />Earlier this year, Deepmind Health, Google’s artificial intelligence (AI) firm, announced that it had launched a blockchain-based project by working on a data audit trail designed to allow hospital technicians to predict, diagnose and prevent illnesses.<br /><br />However, unlike the blockchain, DeepMind is presenting a differ ledger. As hospitals are considered a trusted establishment, it’s not necessary for them to carry out complex calculations in order to verify the information they receive. By changing the chain part of the blockchain and utilizing a tree-like structure instead, DeepMind are able to produce an effect much the same as the blockchain with similar properties to it. These include not being able to erase records while giving access to third parties to see if there has been any interference with the data.<br /><br />The healthcare is keen to adopt the blockchain or replicate many of its components into the services it provides, which are intended to help improve the sector, updating the processes it currently undertakes.<br />
                                                                      <a href="https://www.cryptocoinsnews.com/university-surrey-wins-funding-test-blockchain/" target="_blank">Source</a> </div>

University of Surrey Wins Funding to Test the Blockchain

The University of Surrey has won three bids to test the blockchain in initiatives focusing on voting, digital archives and healthcare. The ...

Japanese Internet Giant GMO is Launching a New Bitcoin Exchange

Admin 2 1:27 AM

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<span style="color: #343e47; font-family: proxima-nova-1, proxima-nova-2, Open Sans, Helvetica Neue, Helvetica, Arial, sans-serif; font-size: x-small;">Japanese internet conglomerate GMO Internet Co., Ltd is launching a bitcoin trading platform on May 24th. The internet giant is one of many Japanese companies looking to capitalize on booming demand for digital currencies in the world’s biggest bitcoin trading market.</span></div>
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<span style="color: #343e47; font-family: proxima-nova-1, proxima-nova-2, "Open Sans", "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: x-small;">Recent legislative changes in Japan have led to an increasing appetite for bitcoin among investors and new adopters in the land of the rising sun. In April, bitcoin saw recognition as a legal method of payment after Japan’s cabinet passed bills to that effect last year. Japanese officials also took the decision to formally end the 8% consumption tax rate on bitcoin buying through exchanges, set to go into effect in July this year.</span></div>
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<span style="color: #343e47; font-family: proxima-nova-1, proxima-nova-2, "Open Sans", "Helvetica Neue", Helvetica, Arial, sans-serif;">Bitcoin Boom</span></div>
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<span style="color: #343e47; font-family: proxima-nova-1, proxima-nova-2, "Open Sans", "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: x-small;">The benefits of bitcoin, a decentralized digital currency that enables near-instant, transparent and cheaper transactions compared to traditional counterparts in an embracive climate by authorities has retailers taking notice. Some notable partnerships between bitcoin companies and retailers will see up to 260,000 Japanese retail storefronts accepting bitcoin this year.</span></div>
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<a href="https://cdn4.cryptocoinsnews.com/wp-content/uploads/wordpress-popular-posts/105861-featured-300x200.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="266" src="https://cdn4.cryptocoinsnews.com/wp-content/uploads/wordpress-popular-posts/105861-featured-300x200.jpg" width="400" /></a><span style="color: #343e47; font-family: proxima-nova-1, proxima-nova-2, "Open Sans", "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: x-small;">This boom in demand toward adoption has Japanese companies scrambling to provide supply to the market, with 18 companies applying for licenses to open an exchange. Last year, Japan enacted a bill toward the regulation of digital currency exchanges. Fundamentally, existing bitcoin exchange operators and those looking to open an exchange are required to obtain a license. 10 of the 18 companies seeking a license are new entrants into the market.</span></div>
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<span style="color: #343e47; font-family: proxima-nova-1, proxima-nova-2, "Open Sans", "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: x-small;">One of them, is the web-hosting giant GMO Internet Group which officially announced the GMO-Z.com Coin Co., Ltd. (aka Z.com Coin), a digital currency exchange that is set to launch on May 24th.</span></div>
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<span style="color: #343e47; font-family: proxima-nova-1, proxima-nova-2, "Open Sans", "Helvetica Neue", Helvetica, Arial, sans-serif;">A New Exchange</span></div>
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<span style="color: #343e47; font-family: proxima-nova-1, proxima-nova-2, "Open Sans", "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: x-small;">Z.com Coin was first established in October 2016 and was formerly known as the GMO Wallet Co., Ltd. In November, the company began testing its platform for virtual currency trading with the goal toward a full-fledged exchange operation.</span></div>
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<span style="color: #343e47; font-family: proxima-nova-1, proxima-nova-2, "Open Sans", "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: x-small;">And so it came to be, with Z.com Coin set to launch with two product offerings in ‘virtual currency foreign exchange’ and ‘virtual currency trading’.</span></div>
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<span style="color: #343e47; font-family: proxima-nova-1, proxima-nova-2, "Open Sans", "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: x-small;">With its first service, buyers can deposit money with the exchange operator and one side pays the difference between initial and final prices when a trade is executed. The new exchange says it will allow up to 5x leveraged trading, wherein buyers will be able to leverage their investment up to five times. This is akin to foreign exchange trading, hence the name.</span></div>
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<span style="color: #343e47; font-family: proxima-nova-1, proxima-nova-2, "Open Sans", "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: x-small;">At launch, its virtual currency trading service will only enable bitcoin transactions. The company plans on adding additional digital currencies in the future. Notably, the exchange will operate with zero trading fees and zero withdrawal fees.</span></div>
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<span style="color: #343e47; font-family: proxima-nova-1, proxima-nova-2, "Open Sans", "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: x-small;">A translated GMO statement explaining its foray into the bitcoin space reads:</span></div>
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<span style="color: #343e47; font-family: proxima-nova-1, proxima-nova-2, "Open Sans", "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: x-small;">In recent years, utilization of virtual currency such as bitcoin is progressing in various transactions such as international remittance and settlement to individuals and companies, and it is said that the market size of virtual currency will reach 1 trillion yen in a few years.</span></div>
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<span style="color: #343e47; font-family: proxima-nova-1, proxima-nova-2, "Open Sans", "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: x-small;">In Japan, various provisions for protecting consumers have been established by the revised fund settlement law which took effect in April 2017.</span></div>
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<span style="color: #343e47; font-family: proxima-nova-1, proxima-nova-2, "Open Sans", "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: x-small;">A registration system was introduced that requires the establishment of a system to carry out overseeing the exchange industry properly and reliably. This is expected to increase the health of the market. Furthermore, starting in July 2017, the consumption tax on the transfer of virtual currency will also be eliminated, so virtual currency usage is expected to spread exponentially.</span></div>
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<span style="color: #343e47; font-family: proxima-nova-1, proxima-nova-2, "Open Sans", "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: x-small;">Z.com Coin will store keys offline in a cold-storage with further risk mitigation through multi-signature offerings for customers. Further, GMO is also cooperating with Mitsui Sumitomo Kaika Kaisha Insurance Co., Ltd, gaining insurance against cyberattacks and theft.</span></div>
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<span style="color: #343e47; font-family: proxima-nova-1, proxima-nova-2, "Open Sans", "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: x-small;">The exchange is set to launch with 500 million yen (approx. USD$4.3 million) in capital reserves, dwarfing the 10-million-yen minimum regulatory requirement.</span></div>
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<span style="color: #343e47; font-family: proxima-nova-1, proxima-nova-2, "Open Sans", "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: x-small;">Pre-registrations for accounts at the exchange began this week and Z.com Coin adds that future development of the exchange will include enabling Ethereum and expansion into other Asian countries beyond Japan.</span></div>
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<span style="color: #343e47; font-family: proxima-nova-1, proxima-nova-2, "Open Sans", "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: x-small;">                                                                      <a href="https://www.cryptocoinsnews.com/japanese-internet-giant-gmo-launching-new-bitcoin-exchange/" target="_blank">Source</a> </span></div>
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Japanese Internet Giant GMO is Launching a New Bitcoin Exchange

Japanese internet conglomerate GMO Internet Co., Ltd is launching a bitcoin trading platform on May 24th. The internet giant is one of man...

Litecoin Rises 40% in Anticipation of Segwit Activation Today

Admin 0 1:07 AM

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<span style="color: #343e47;">Litecoin began a bull run yesterday, nearly doubling in 24 hours from around $22 to now trading at $38 in anticipation of segregated witnesses (segwit) activation which is now due in a couple of hours.</span><br />
<span style="color: #343e47;">Just over 100 blocks are left at the time of writing for segwit to activate, with litecoin’s blocks averaging 2.5 minutes. So after some drama between litecoin miners and developers, it’s finally happening. Segwit will now go live.</span><br />
<a href="https://cdn4.cryptocoinsnews.com/wp-content/uploads/2017/04/Litecoin-chart-375x250.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="213" src="https://cdn4.cryptocoinsnews.com/wp-content/uploads/2017/04/Litecoin-chart-375x250.jpg" width="320" /></a><span style="color: #343e47;">If all goes well, then it’s a non-event for litecoin. The currency is hardly used or accepted by anyone. It already has 4x bitcoin’s capacity, with segwit increasing it to around 8x, but just 4,000 transactions a day, while bitcoin currently has 250,000.</span><br />
<span style="color: #343e47;">So litecoin users won’t really see any change, nor would anyone really care about litecoin or its segwit activation if small blockers were not promoting it as proxy politics for segwit’s activation in bitcoin.</span><br />
<span style="color: #343e47;">Bitcoin, however, remains split, with the result seemingly being an increase in hashrate support for Bitcoin Unlimited. It has reached 45% during the longer one-week time frame and 53% during the past 24 hours.</span><br />
<span style="color: #343e47;">That’s probably because segwit’s activation in bitcoin is very different from segwit’s activation in litecoin where it is largely irrelevant since litecoin has plenty of capacity, but bitcoin currently has none to spare. That means segwit’s activation in bitcoin would force users to the Lightning Network (LN).</span><br />
<span style="color: #343e47;">That would be a significant transformation of bitcoin with a lot of unknown, a transformation supported by a minority of the hashrate, while the majority now prefers on-chain scaling. The problem is that majority might need to reach some high level of 80% which may not be anytime soon.</span><br />
<span style="color: #343e47;">In the meantime, litecoin will probably launch LN, a ripple like second layer network with IOU hubs enforced on-chain. According to LN developers, its deployment on litecoin will allow them to:</span><br />
<span style="color: #343e47;">“[E]xamine monetary incentives w</span><br />
<span style="color: #343e47;">ithin the network, observe the emergent properties of the networks’ channel graph, and see the rise of production services and applications built on top of the network.”</span><br />
<span style="color: #343e47;">That’s if anyone uses it. It’s not very clear why they would when they can just transact as normal as LN doesn’t really offer any added benefit while being more costly due to double fees – once for the hub and once for the miners.</span><br />
<span style="color: #343e47;">Sure, it can offer more transactions, but most micropayments situations can be served by payment channels, so taking the intermediary hubs off the transactions and therefore paying lower fees.</span><br />
<span style="color: #343e47;">So it all appears to be a bit of a stunt, but a pretty clever one since, ironically, bitcoin maximalists can’t stop talking about litecoin now. Well, maybe they can go there and let bitcoin scale both on-chain and off-chain. Guess that would be one way of solving the endless stalemate.</span></div>
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Litecoin Rises 40% in Anticipation of Segwit Activation Today

Litecoin began a bull run yesterday, nearly doubling in 24 hours from around $22 to now trading at $38 in anticipation of segregated witne...

Chinese Bitcoin Exchanges Might Resume Withdrawals Next Month After Punitive Measures

Admin 2 12:59 AM

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The inspection of Chinese bitcoin exchanges by China’s Central Bank (PBoC) is coming to an end, according to reports by Chinese media. They have found the anti-money laundering measures used by the exchanges were inadequate and the exchanges engaged in fiat/btc loaning which is illegal.</div>
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Measures have already been drawn for punitive action against the exchanges which according to a rough translation appears to mean a monetary fine, although it is not currently known what punishment PBoC may order. They are now just going through the formalities, with a report to be published next month.</div>
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After the measures are undertaken, withdrawals can once more resume, but it’s not clear whether quotas may be maintained for Chinese citizens even after all the concerns are addressed.</div>
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<a href="https://cdn4.cryptocoinsnews.com/wp-content/uploads/2015/10/peoples-bank-of-china-400x266.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="265" src="https://cdn4.cryptocoinsnews.com/wp-content/uploads/2015/10/peoples-bank-of-china-400x266.jpg" width="400" /></a>The above was revealed to Caixin, a Beijing-based media group providing financial and business news, by an unnamed source which suggests it was probably PBoC. They’ve probably decided to say something rather than just release the report because bitcoin has hit 10,000 Yuan, an all-time high and a very big number.</div>
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<strong style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;"><span style="font-size: small;">Will China Embrace the Digital Century?</span></strong></h3>
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China is currently undergoing a considerable transformation, especially in finance. They have leapfrogged the banking system, jumping straight to AliPay and WeChat Pay apps, whose founders employed the Silicon Valley mantra of move fast and let the regulators catch up.</div>
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The two apps account for the vast majority of transactions in the country, with PBoC seemingly trying to figure out how it can keep some control. Their adoption was so fast and widespread, it couldn’t really do much about it, so they are now thinking of joining the digital age with experiments of an ethereum based Yuan token.</div>
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But PBoC never liked bitcoin. It made it illegal for commerce use in 2014 and usually comes out to remind everyone they have a hammer whenever bitcoin’s price increases. They want to keep it under a lid, something small and a fringe thing.</div>
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The problem for them is bitcoin is global. The currency has shrugged off PBoC’s intervention in January which plunged trading volumes in China from some 90% to now 10%. It went on to double since then, reaching a market cap of nearly $30 billion.</div>
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In part perhaps because Japan might have seen an opportunity. They have joined Britain in treating bitcoin as a currency, but have gone a bit further, recognizing bitcoin as legal tender. That’s the very first country to do so and the act is incredibly symbolic as a nation willingly has shared the state’s ancient prerogative of issuing money with the free market.</div>
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Hundreds of thousands of shops will soon begin accepting bitcoin in Japan, with interest in the country growing, joined by South Korea, which suddenly is handling some amazing trading volumes for both bitcoin and ethereum.</div>
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The lesson here for China and other nations appears simple. You can’t stop the future, so why not join it? Look at London. They grabbed the opportunity in 2014, after New York gave them an opening, with the Chancellor symbolically buying a bitcoin and now they’re booming, especially in Fintech.</div>
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It seems Japan and South Korea may now be doing the same thing, diving heads on while perhaps not believing their luck at China willfully giving up what could be a transformational advantage in innovation.</div>
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The great manufacturer of the world seemingly doesn’t know what it has, nor, in some way does America with its very restrictive regulations. Both giants, instead of embracing an age of digitization, seem keen to gift it to competitors.</div>
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Needs one remind either of them that when Britain leaped by</div>
a boom in innovation we now call the industrial revolution, they became the empire where the sun never sets. Yet, perhaps we shouldn’t have expected any different nor need be surprised that it is once more the island nations of Britain and Japan which drive forward a new digital age.<br />
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                                              <a href="https://www.cryptocoinsnews.com/chinese-bitcoin-exchanges-might-resume-withdrawals-next-month-punitive-measures/" target="_blank">Source</a> </div>
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Chinese Bitcoin Exchanges Might Resume Withdrawals Next Month After Punitive Measures

The inspection of Chinese bitcoin exchanges by China’s Central Bank (PBoC) is coming to an end, according to reports by Chinese media. Th...

Stellar Lumens Invade Top 10 CryptoCurrencies with 131 Percent Growth Rate

Admin 0 9:56 PM

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<span style="font-weight: 400;">Stellar Lumens</span><span style="font-weight: 400;">
 started making waves over the weekend sending shivers down the spines 
of the elite cryptos on the top 10. Last week it made a strong statement
 and announced its presence when it made it to the upper areas below the
 10th range displacing well-performing digital currencies like Decred, 
PIVX, Stratis, SingularDTV, Factcom and a few others.</span><br />
<a href="https://cdn4.cryptocoinsnews.com/wp-content/uploads/2017/05/Screenshot_40.png" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="197" src="https://cdn4.cryptocoinsnews.com/wp-content/uploads/2017/05/Screenshot_40.png" width="400" /></a><span style="font-weight: 400;"><span style="font-weight: 400;">By Saturday it was at number 11 
burgeoning and brimming with energy to make it to the top 10. It was no 
wonder to those of us who were observing it intently to see him at 
number 10 at the dying embers of Saturday.  </span></span><br />
<h3>
<b>Stellar’s Match</b></h3>
<span style="font-weight: 400;">The platform that connects banks, 
payments systems and people kept its rampaging match on on Sunday 
putting fear in those Cryptos at the last five. Early mornings on 
Sunday, it gained an unbelievable 131.08 percent, finally knocking down 
Golem and went ahead to push gradually depreciating Monero to occupy the
 8th position on ConmarketCap, the league table of Cryptocurrencies. </span><br />
<span style="font-weight: 400;">The situation has seen currencies 
like Augur and Maidsafe losing top 10 statuses. Even some other coins 
that were aspiring for top 10 are now lingering below the 15th spot. </span>Stellar
 Lumens, a fallout of Ripple after a disagreement over decentralisation 
now has a market Cap of almost $5 Mln. However, its market price is a 
minute $0.047994.<br />
<a href="https://www.youtube.com/watch?time_continue=110&v=CLwR0mZc8OI"><span style="font-weight: 400;">Joyce Kim, the Executive Director</span></a><span style="font-weight: 400;">
 at the Steller development Foundation in a recent interview on Money 
& Tech revealed Stellar Lumen is complementary to Bitcoin and a 
distributed multicurrency system that allows every currency to run on 
it. She mentioned that on their protocol Bitcoin, Litecoin Yen, Dollar 
and every currency can run on it. She also stated one one of their main 
focus is to reach underserved communities.</span><br />
<span style="font-weight: 400;">With the new sensation, it has 
created in the industry, It is very obvious everyone is watching it and 
want to get hold of some of their tokens.  It is fascinating enough to 
see how on a daily basis, one or two Cryptocurrencies brings out some 
unique system that beautifies the ecosystem so immensely. CCN </span><span style="font-weight: 400;">is
 set to reach to the Stellar Lumen team to bring you more update. For 
now, it seems there is more room to get your hands on some stellar.</span><br />
<span style="font-weight: 400;">                                                                    <a href="https://www.cryptocoinsnews.com/stellar-lumens-invade-top-10-with-131-percent-growth-rate/" target="_blank"> Source</a>  </span><br />
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Stellar Lumens Invade Top 10 CryptoCurrencies with 131 Percent Growth Rate

Stellar Lumens started making waves over the weekend sending shivers down the spines of the elite cryptos on the top 10. Last week it ma...

Bitcoin Giants BitPay & Bitmain Ink ‘Multi-Million Dollar’ Blockchain Agreement

Admin 0 8:36 AM

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Bitcoin payment processor BitPay has announced an agreement with 
bitcoin mining hardware maker Bitmain to develop open-source 
‘open-source blockchain security software’ for miners, mining pools and 
full node operators – who maintain and secure blockchain transactions.<br />
Atlanta-based BitPay, arguably the world’s leading bitcoin payment 
processor and solutions provider for bitcoin payments, says it is 
pleased to count Bitmain among its customers. ‘Bitmain is one of the 
most successful providers of the hardware used to secure blockchain 
transactions’, says BitPay in its announcement. “In recent years, the 
company has played a major role in hardware innovation to support the 
exponential growth of Bitcoin – the world’s first and most successful 
blockchain.”<br />
The ‘multi-million dollar development agreement’ will also be a ‘multi-year’ endeavor, the <a href="https://medium.com/bitpay-on-bitcoin/bitpay-enters-agreement-with-bitmain-to-develop-open-source-blockchain-security-software-9de2b48b452c">announcement</a> added.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjNXMVvRgf6ejU_Db_cRlanXHnGTeJUaWymgczLUPFHukrhLDRDMjwWSnWNwR6oPQeWkKLeKzp7J0Nz5pCbTJgypsh_M_11dTpn-WZg2EW06eH4_oUJDF21UyiyMKo6IRKF08lIztN40Hw/s1600/BitPay-Bitmain-375x250.jpeg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjNXMVvRgf6ejU_Db_cRlanXHnGTeJUaWymgczLUPFHukrhLDRDMjwWSnWNwR6oPQeWkKLeKzp7J0Nz5pCbTJgypsh_M_11dTpn-WZg2EW06eH4_oUJDF21UyiyMKo6IRKF08lIztN40Hw/s400/BitPay-Bitmain-375x250.jpeg" width="400" /></a>“At BitPay, we recognize that there is an untapped market of mining 
companies that require more advanced platforms for their businesses than
 are available today,” stated BitPay CEO Stephen Pair.<br />
BitPay’s chief executive added:<br />
<blockquote>
We value having Bitmain as a customer, and we believe 
that miners are mining technology providers like Bitmain play a vital 
role in the security and ongoing success of the Bitcoin blockchain.</blockquote>
BitPay’s announcement of the agreement with Beijing-based Bitmain 
comes a week after Bitmain bitcoin miners were found to be vulnerable to
 a remote code execution from the company that could shut down a 
significant majority of the hardware’s hashrate.<br />
“It’s true,” confirmed Bitmain CEO Jihan Wu, speaking to CCN, when 
specifically asked if the vulnerability “could allow Bitmain to shut 
down 70% of the hashrate.”<br />
“We apologize for this bug and it has already been fixed in the new 
release,” Wu added, asking users to upgrade to a newly-released firmware
 that addressed the ‘bug’, also known as ‘Antbleed’ within the bitcoin 
community.<br />
Following the deal with BitPay that will see the US-based bitcoin company develop open-source security software, Wu stated:<br />
<blockquote>
We believe that together we can make real improvements in
 how we secure blockchain transactions and grow the impact of blockchain
 technology in digital payments.</blockquote>
                                                      <b>    <a href="https://www.cryptocoinsnews.com/bitcoin-giants-bitpay-bitmain-ink-multi-million-dollar-blockchain-agreement/" target="_blank">Source</a> </b> </div>

Bitcoin Giants BitPay & Bitmain Ink ‘Multi-Million Dollar’ Blockchain Agreement

Bitcoin payment processor BitPay has announced an agreement with bitcoin mining hardware maker Bitmain to develop open-source ‘open-sourc...