Much excitement around Bitcoin and Co. characterized the past year, but concrete, useful applications took some time to come.
There was an announcement by the experts in 2017 that Cryptocurrencies and Blockchain technology would rescue the world. Digital Fingerprints will turn everything. But, Although, there were few visible examples we could see and they have justified this news.
Today demand for processing capacity for Cryptocurrency transactions increases. Along with it, tensions between two Bitcoin trailer warehouses are increasing. On the one hand are those who want to address the processing bottleneck in the currency by making the size of the “Blocks” double recorded in the blockchain. While, there are traditionalists who, like the leading developers of Bitcoin, want to stick to the old system.
Industrialists and others in favor of enlargement want to make Bitcoin a payment method for the mass market. The battle was supposed to end last November in 2017, but the planned "hard fork" was delayed. The result of the dispute may well be critical to the future of the world's first cryptocurrency.
There is the latest news in the field of Cryptocurrency that signal inventor Moxie Marlinspike has announced a new cryptocurrency with Mobilecoin. The potential Bitcoin alternative should be easy to use and secure.
Bitcoin Alternative Mobilecoin: Transactions via Messenger:
Moxie Marlinspike is regarded as the inventor of the Signal Protocol, which is also used by Whatsapp, as well as of the same name secure messenger. Now, Marlinspike has teamed up with the developers to develop an alternative to the burgeoning cryptocurrency Bitcoin.
Mobilecoin aims to make it easy for users to use and be safe and enable transactions in messenger apps like Whatsapp, Facebook Messenger, etc.
Mobilecoin does not rely on the Bitcoin blockchain but on the alternative payment network "The Stellar Consensus Protocol," which according to Wired should be faster and more efficient. The confirmation of transactions and the key management are to take over individual servers, so-called nodes.
Privacy is said to be ensured by Intel's proprietary Guard Extensions (SGX) software, a hardware-encrypted range of Intel CPUs that cannot be accessed by operating systems or software. Details of the technical background of the Mobilecoins system might be published publically by them.
Main Key Features:
- Easy key management
- User and planet-friendly
- Sub-second transactions
- Privacy
Meet the Team:
Mobilecoin: Focus on security and usability:
In addition to safety, Marlinspike was instrumental in the development of Mobilecoin, which he accompanied as a technical consultant, but above all, user-friendliness. Unlike the currently dominant Cryptocurrency Bitcoin, which is presently eliminated due to the now extremely high volatility and the increase in value to currently just under $ 20,000 as a means of payment, Mobilecoin users should use the Bitcoin alternative really for sending money.
However, the first critics have already suggested to Mobilecoin that the dependency of the Cryptocurrency on Intel's SGX could quickly prove to be a weakness of the entire system. Marlinspike had already used SGX at Signal to let users find contacts there without disclosing their contact details.
One thing is sure that the Mobilecoin will change the whole industry of Cryptocurrency and it would be quite easy for the investors to deal with it.
Interested in myprevious blogs:
- How To #13 How can you exchange Bitcoin or any other cryptocurrency for real money?
- Crypto World #7 Low on Cryptocurrencies? Try out margin trading.
- Crypto Talk #5 Binance is UP now, it was just a FUD but how this news spreads?
- Crypto World #6 Bitcoin Regulation: That's Why 2018 Will Be The Year of Decentralized Exchanges:
- Crypto Talk #4 All you need to know about investing in Crypto-currencies before you do.
A.D.S.A.C.T.L.Y = Autonomous Decentralized Society Acting Cooperatively to Leverage You!
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