CEO Ripple : We cant control the price of XRP more than the whale of Bitcoin

CEO Ripple: We can't control the price of XRP more than the whale of Bitcoin

The blockchain payment network CEO, Ripple, said the company did not want to "dump" the associated XRP cryptocurrency despite selling it in large quantities.

In an interview with CNN on January 5, Brad Garlinghouse added new discussion to the debate about Ripple's relationship with XRP, which has gone up 10% in the past 24 hours.

Garlinghouse: Ripple "can't control XRP prices"

"In the XRP community, Ripple is the biggest owner, and what I'm saying is that we are the most interested part in the success of the XRP ecosystem," he told the network.

Regarding the issue of how Ripple manages the property, Garlinghouse stated:

"Yes, Ripple has a lot of XRP, we are very interested in the success of XRP, but the accusations that we leave behind, that is not the best for us." We will never do that and, in fact, we have taken steps to block most of our XRP so we cannot touch it. "

The comments coincided with the movement of the Ripple market in 2019 and before. As Cointelegraph reports, the company has been selling XRP in large quantities for a long time, and last year it lost more tokens than before.

In early 2020, the company launched one billion XRP, worth about $ 200,000, of bail as part of the planned operation.

Meanwhile, XRP itself reached a minimum of more than two years in December, falling below $ 0.20 and at a trading point 96% below its historical high of $ 3.40. The recovery, which includes a 9% increase in the past 24 hours, has sent XRP / USD back above the $ 0.20 barrier.

Garlinghouse continues to be surprised. Although Ripple participated symbolically, he strongly denied that the company could influence the price of XRP.

"Oh, no," he protested when asked about the possibility, comparing the situation with the main Bitcoin (BTC) investor:

"Ripple cannot control XRP prices more than whales can control Bitcoin prices."

Large XRP buyers "hypothetically have limits"

However, he said, Ripple will not respond well to other large investors who have most of the XRP supply. However, in what seemed like a desire to influence the market, Garlinghouse positioned Ripple as the main token holder that survives in the future.

"There are times when we work with institutional investors or we can say," Hey, we want to buy $ 10 million XRP, "and we will have a blockage to prevent them being thrown to the market," he continued.

In conclusion, the executive said that such an intervention was "hypothetical":

"We don't want the other party to buy XRP in large quantities and throw it on the market, so we will hypothetically have limits on what they can sell and how often, and they generally depend on volume in the market."

source : cointelegraph.com

The coffee block application is based on the IBM blockchain and Fair Trade Initiative

The coffee block application is based on the IBM blockchain and Fair Trade Initiative

On January 6 at The Consumer Electronics Show in Las Vegas, IBM and Farmer Connect, an organization committed to increasing transparency and sustainability in agricultural supply chains, presented a blockchain-based application that allows consumers to learn about the coffee grains they buy.

Farmer Connect founder and president David Behrends told Cointelegraph that the "Accept My Farmer" mobile app offers consumers an interactive map to show their coffee trips by scanning a QR code:

"After scanning the QR code, consumers are taken directly to the product page which gives details about the coffee they drink. Below the description is an interactive map that shows the journey coffee has taken. We say you can travel the world with a cup of coffee, and we want to help consumers visualize it. "

The Thank My Famer application is supported by IBM blockchain technology, which creates a permanent digital transaction chain that cannot be changed, tracking every step of the coffee bean journey.

According to the IBM Blockchain world leader, Paul Chang, every participant involved in the Thank My Farmer network has a copy of the right transaction data, and the addition of the blockchain is distributed across the network according to the level of permission of each participant. This allows farmers, wholesalers, traders and retailers to interact more efficiently, while providing information to consumers about the origin of coffee products.

As a result, Behrends explained that consumers would be able to see the exact location of the farm where their coffee was planted, along with the steps followed by coffee beans before arriving at the grocery store.

"If we have a farmer geolocation, agriculture will appear on the map. If we don't have this information, we show the steps that coffee follows. For example, coffee starts like a cherry, the seeds are removed from the cherries and washed and dried. Each step is carried out in a different segment before the product enters the export and import ports. Consumers can click on an interactive map for more information on how coffee has been obtained, traveled and changed. "

At CES, Bluestone Lane coffee products are used to demonstrate how the Thank My Farmer application works. According to Behrends, the application will be available to the public market in early 2020. Users in the United States and Canada will be able to scan QR codes on a single premium coffee from the Folgers 1850 brand. European consumers will be able to use the application in a unique new brand, Beyers 1769, baked at Beyers Koffie.

The "blockchain forever" element

Behrends also noted that one of the goals behind the Thank My Famer application is to humanize every consumer's relationship with their coffee by giving coffee drinkers visibility in the supply chain, which allows them to better understand the steps involved in creating products. .

Reports indicate that coffee drinkers consume more than half a billion cups a year. In addition, two-thirds of consumers between the ages of 19 and 24 prefer to buy coffee that is grown sustainably and obtained in a responsible manner. However, there is still a lack of knowledge that 25 million small coffee producers are confident in bringing their products to the market to make a living.

By using the blockchain, Thank My Famer allows consumers to make a direct contribution to the farmers who are responsible for getting their coffee. Behrends said that as the application develops, consumers will be able to support coffee farmers by financing local projects through the application.

"We want to encourage consumers to share sustainability governance by being able to contribute and see their impact on these communities, for me that is what is meant by humanizing coffee," Behrends said.

The Sovrin Foundation's sovereign identity will provide farmers with a digital identity built on the blockchain. Behrends explained:

"We are working with the Sovrin Foundation to include sovereign identity in the application. We are still developing this technology, but basically it will give farmers a digital identity, enabling them to have their data for the first time. "

In addition, Behrends notes that the digital identity of farmers will contain credentials and digital records that indicate when farmers sell coffee to traders. Traders can send digital credentials to confirm the price, quantity and quality of coffee to farmers through the application. After everything is received and confirmed by the farmer, a digital record of production and income is created, which is then registered in the IBM blockchain.

A farmer's digital identity will also be linked to a bank account or digital wallet in the future, which will allow consumers to make direct contributions to farmers which can then be fully tracked using the Thank My Farmer application.

While Behrands noted that the railroad application will not be ready until February, he explained that consumers who want to support farmers will receive a unique key code to track where their contribution is at any time. He explained:

"This application will allow consumers to" follow the money "to see when contributions have been collected, how they have been added and, more importantly, what has been distributed to fund certain projects."

What is the difference with other blockchain based solutions?

While the Thank My Farmer application is powered by IBM's blockchain, Chang told Cointelegraph that Farmer Connect is not part of the IBM Food Trust Network, which currently consists of more than 200 food suppliers and retailers, including Walmart and Carrefour. Chang explained that the application only uses the same assets that feed the Food Trust platform.

"We take assets from the Food Trust network and place them in a dedicated environment for Farmer Connect to address the coffee industry supply chain. As a result, Famer Connect does not need to worry about network scalability, security and resilience, because the Food Trust has shown everything. "

In addition, Chang said the aim behind Thank My Famer is not to test new technologies or concepts, but to create a more sustainable ecosystem for coffee drinkers, farmers, traders and all other actors involved.

This is different from other blockchain-based solutions that allow consumers to scan QR barcodes to understand where certain foods come from. For example, while the European supplier of food ingredients, Carrefour, has incorporated QR barcode technology into some of its products, consumers can only see where the food is coming from. Farmer Connect takes an additional step by enabling consumers to make a direct contribution to farmers, which is a unique element. Behrends explains this further, saying:

"The Thank My Farmer application is a leading industry initiative that has the support of the entire industry. Other people in outer space try to do something similar by showing consumers where their food is coming from, but we are addressing a problem that is also faced by the coffee industry. "

Behrends also noted that Farmer Connect wants to expand to other food industries where products are produced by small farmers such as tea and cocoa.

source : cointelegraph.com

What is Bitcoin Lightning network ?

What is Bitcoin Lightning network ?

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Hailed as one of the most powerful cryptocurrency scaling solutions currently under development, the Lightning network effectively creates a layer over Bitcoin, allowing fast and cheap transactions that can settle in the Bitcoin blockchain.

Proposed by Thaddeus Dryja and Joseph Poon in a 2015 technical document, the idea is based on a network that is located at the top of the bitcoin blockchain and is finally installed in it. The network is made up of user-generated channels that send payments from one place to another in a secure and untrusted way (no trust means you don't need to trust or even know your counterpart).

Let's say, for example, that I wanted to pay you for every minute of video I saw. We would open a lightning channel and, as the minutes passed, periodic payments would be made from my wallet to yours. When I finished watching, we would close the channel to settle the net amount in the bitcoin blockchain.

Because the transactions are only between you and me and do not need to be transmitted to the entire network, they are almost instantaneous. And because there are no miners who need incentives, the transaction fees are low or even non-existent.

How does it work

First, two parties that wish to transact with each other set up a multi-grade wallet (which requires more than one signature to complete a transaction). This wallet contains a certain amount of bitcoin. The wallet address is stored in the bitcoin blockchain. This configures the payment channel.

The two parties can now perform an unlimited number of transactions without touching the information stored in the blockchain. With each transaction, both parties sign an updated balance to always reflect how much of the bitcoin stored in the wallet belongs to each.

When both parties have made the transactions, they close the channel and the resulting balance is recorded in the blockchain. In case of dispute, both parties can use the most recently signed balance to recover their share of the wallet.

It is useful to keep in mind that it is not necessary to configure a direct channel to perform lightning transactions: you can send payments to someone through channels with people with whom you are connected. The network automatically finds the shortest route.

The development of technology received a significant boost with the adoption of SegWit in the bitcoin and litecoin networks. Without correcting the malleability of the update transactions, transactions in the Lightning network would have been too risky to be practical.

Without the security of the blockchain behind it, the lightning network will not be as secure, which means that it will be used largely for small or even micro transactions that carry a lower risk. Larger transfers that require decentralized security are more likely to be made in the original layer.

Where are we now?

Although originally designed for bitcoin, the technology is currently being developed for a variety of cryptocurrencies, such as litecoin, stellar, zcash, ether and ripple. Litecoin plans to launch its version at the same time as that of bitcoin.

In December 2017, the new companies behind the three most active lightning implementations (ACINQ, Blockstream and Lightning Labs) revealed test results, including live transactions, proving that their software is now interoperable.

In addition, version 1 of the lightning specifications, which establish the network rules, has been published. This will encourage the development of other implementations and applications.

However, the network is not yet ready for launch. Engineers have not yet released software with which real users can perform transactions. Applications that support Lightning as a payment method are already emerging, but so far they are not easy to use.

That has not prevented some of those working on projects from trying lightning transactions on the bitcoin network. However, Lightning developers discourage this: it not only acts as a distraction for developers, but also puts user funds at risk.

Given the complexity of the code and the need for rigorous testing (after all, we are talking about payments), developers demand patience. In addition, lightning cannot be implemented at scale until SegWit extends more widely, so, although some believe there is enough SegWit support to run the mainnet network now, others predict that a usable lightning network could be of At least a year away.

In March 2018, California startup Lightning Labs announced the launch of a beta version of its software, making available what investors and project leaders say is the first version of the fully tested technology to date. . However, it is still early: the size of the transactions is limited and the launch is aimed at developers and "advanced users".

How Bitcoin Mining Works ?

How Bitcoin Mining Works

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When you hear about the “mining” of bitcoin, imagine that coins will be extracted from the ground. But bitcoin is not physical, so why do we call it mining?

Because it is similar to the extraction of gold in which bitcoins exist in the protocol design (such as gold exists underground), but they have not yet been brought to light (just as gold has not yet been unearthed) . The bitcoin protocol stipulates that 21 million bitcoins will exist at some time. What the "miners" do is bring them to light, one at a time.

They can do this as a reward for creating validated transaction blocks and including them in the blockchain.

Nodes

Going back a bit, let's talk about "nodes". A node is a powerful computer that runs bitcoin software and helps keep bitcoin running by participating in the transmission of information. Anyone can run a node, simply download the bitcoin software (free) and leave a certain port open (the drawback is that it consumes energy and storage space; the network at the time of writing occupies about 145 GB). The nodes distribute bitcoin transactions on the network. A node will send information to a few nodes that it knows, which will transmit the information to the nodes they know, etc. That way, you'll end up touring the entire network quite quickly.

Some nodes are mining nodes (usually called "miners"). These group the pending transactions into blocks and add them to the blockchain. How do they do that? By solving a complex mathematical puzzle that is part of the bitcoin program and include the answer in the block. The puzzle that must be solved is to find a number that, when combined with the data in the block and passed through a hash function, produces a result that is within a certain range. This is much harder than it seems.

Solving the puzzle

How do you find this number? Guessing at random. The hash function makes it impossible to predict what the output will be. Then, the miners guess the mysterious number and apply the hash function to the combination of that guessed number and the data in the block. The resulting hash has to start with a preset number of zeros. There is no way to know which number will work, because two consecutive integers will give very different results. In addition, there may be several nonces that produce the desired result, or there may be none (in which case the miners keep trying, but with a different block configuration).

The first miner to obtain a resulting hash within the desired range announces his victory to the rest of the network. All other miners immediately stop working on that block and start trying to discover the mysterious number for the next one. As a reward for his work, the victorious miner gets some new bitcoins.

Economic Sciences

At the time of writing, the reward is 12.5 bitcoins, which at the time of writing is worth almost $ 200,000.

Although it is not a deal as comfortable as it seems. There are many mining nodes competing for that reward, and it is a matter of luck and computing power (the more fortune-telling calculations you can perform, the more luck you will have).

In addition, the costs of being a mining node are considerable, not only for the powerful hardware needed (if you have a faster processor than your competitors, you have a better chance of finding the right number before them), but also for the large amounts of electricity consumed by the operation of these processors.

And, the number of bitcoins awarded as a reward for solving the puzzle will decrease. Now it is 12.5, but it is reduced by half every four years or so (the next one is expected in 2020-21). The value of bitcoin in relation to the cost of electricity and hardware could increase in the coming years to partially compensate for this reduction, but it is not certain.

Difficulty

The difficulty of the calculation (the required number of zeros at the beginning of the hash chain) is adjusted frequently, so that the processing of a block takes on average approximately 10 minutes.

Why 10 minutes? That is the amount of time that bitcoin developers think is necessary for a steady and decreasing flow of new currencies until the maximum number of 21 million is reached (expected sometime in 2140).

If you got here, congratulations! There is still much more to explain about the system, but at least now you have an idea of the broad scheme of programming genius and concept. For the first time we have a system that allows convenient digital transfers in a decentralized way, without trust and tamper-proof. The repercussions could be enormous.

Google will kill Bitcoin, after all

Google will kill Bitcoin, after all

The bitcoin and cryptocurrency industry was scared earlier this year by reports that the search giant Google had achieved the supposed quantum supremacy, something that could break bitcoin cryptography (but probably won't).

Meanwhile, the price of bitcoin has risen this year, largely due to interest in bitcoin and crypto from the world's largest technology companies, along with others, such as Apple, iPhone manufacturer and Amazon online retailer, which They diversified into traditional financial services.

Now, Google, in association with US banking giant Citigroup, has said it plans to launch its own "smart checking" bank accounts through Google Pay, which increases the pressure on bitcoin developers to improve the user experience and adoption or face redundancy.

The planned Google bank account, whose code name is Cache and is expected to allow users to add Google's analytical tools to traditional banking products, will be launched sometime next year, along with the planned bitcoin rival of Facebook, pound.

"Our approach will be to partner deeply with banks and the financial system," Google executive César Sengupta told the Wall Street Journal, which first reported the story.

"It may be a bit longer, but it is more sustainable. If we can help more people do more things online digitally, it is good for the Internet and good for us."

Google does not plan to sell the financial data of its current account users, according to Sengupta. Currently, Google does not share data from its Google Pay service, which had approximately 11.1 million US users. UU. Last year, with advertisers.

Google’s move follows the launch of Apple’s Goldman Sachs-backed credit card this summer, the Uber’s bank and credit account offer to its drivers, and Amazon’s plans to introduce personal accounts to its customers.

Meanwhile, Bitcoin and other major cryptocurrencies have had problems attracting new users and retail acceptance, and price speculation remains the biggest driver of Bitcoin interest.

Bitcoin evangelicals point to the need for a decentralized and user-controlled alternative to the fiat currency system as the reason for the eventual success of bitcoin, but the world's technology giants are moving quickly to implement many of the most precious features of bitcoin and crypto.

The Twitter microblogging platform, led by the chief executive of the payment company Square, Jack Dorsey, is an atypical case of Silicon Valley for its support of Bitcoin.

And public opinion is with technology companies. Last month, according to Interbrand's annual surveys, it was discovered that Apple, Google and Amazon were the most valuable brands in the world.

Despite public concerns about data privacy, digital security and the power of technology giants, users have not abandoned their services: Google's superior digital money service could be a greater threat to Bitcoin than its supremacy quantum

The Binance cryptocurrency colossus has invested an undisclosed amount of money in the FTX derivatives platform as part of a strategic partnership between the two companies.

The Binance cryptocurrency colossus has invested an undisclosed amount of money in the FTX derivatives platform as part of a strategic partnership between the two companies.

As part of the agreement announced Thursday, Binance bought shares of the derivative firm and bought long positions in the FTX token, FTT, the platform's native currency.

"The investment will help accelerate the growth of FTX with the support and strategic advice of Binance, while FTX maintains its independent operations," said FTX founder and CEO Sam Bankman-Fried.

In return, FTX will help develop Binance products, in particular its flagship exchange, Binance.com, and its over-the-counter (OTC) trading table. FTX also announced its intention to build a set of complementary products to tokenized ecosystems, a project that Binance, based in Malta, will help

.

Founded in spring 2019, FTX was an incubation project for Alameda Research, a digital asset research firm. FTX offers OTC, futures, indices and spot operations and operates from the Caribbean islands of Antigua and Barbuda. The exchange processes almost half a billion dollars of commercial volume per day, according to a Binance statement.

"The FTX team has built an innovative crypto trading platform with amazing growth," Binance CEO Changpeng "CZ" Zhao said in a statement. "We see a little of ourselves in the FTX team and believe in its potential to become an important player in crypto derivatives markets."

The investment follows the acquisition of JEX in September of Binance, a spot and derivatives platform based in Seychelles. The acquisition helped the exchange add options and futures to its trading platform.

How to get free bitcoin

How to get free bitcoin

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What is bitcoin

What is bitcoin ?

Bitcoin is the first decentralized digital currency. Bitcoins are digital currencies that you can send over the Internet. Compared to other alternatives, Bitcoins have a number of advantages. Bitcoins are transferred directly from person to person through the network without going through a bank or clearing house. This means that the rates are much lower, You can use them in all countries, your account cannot be frozen and there are no prerequisites or arbitrary limits.

How does it work ? Bitcoins are generated over the Internet by anyone who runs a free application called Bitcoin miner. Mining requires a certain amount of work for each block of coins. The network automatically adjusts this amount so that Bitcoins are always created at a predictable and limited speed. Your Bitcoins are stored in your digital wallet, which may be familiar if you use online banking. When you transfer Bitcoins, an electronic signature is added. After a few minutes, a miner verifies the transaction and is stored permanently and anonymously in the network.

Bitcoin software is completely open source and anyone can review the code. Bitcoin is changing finances in the same way that the web changed the publication. When everyone has access to a global market, great ideas flourish. Let's look at some examples of how Bitcoins are already used today: you can buy video games, gifts, books, servers and alpaca socks. There are several currency exchanges where you can exchange your Bitcoins for dollars, euros and more. Bitcoins are an excellent way for small businesses and freelancers to realize. It costs nothing to start accepting them, there are no chargebacks or fees and you will get additional business from the Bitcoin economy. For your first Bitcoins.