The Bitcoin Core has received an upgrade. The new update- Bitcoin Core 0.12.1 will soon be incorporated by all the mining pools. Unlike other updates, the Bitcoin Core 0.12.1 is more focused towards improving the scalability of the Bitcoin network. Some of the main features of this new update include support for four different Bitcoin Improvement Proposals – BIP 9, BBIP 68, BIP 112 and BIP 113. The inclusion of these new BIPs makes Bitcoin Core more compatible to soft forks and the implementation of Lightning Network, the purported solution for block size and transaction backlog issues. Released on 15th April 2016, the new version of Bitcoin Core can be downloaded from the following link on Bitcoin.org website. According to the website, the new version of…
The Bitcoin difficulty level recently increased by 7.09% recently. What is difficulty level and why is is important? Bitcoin is probably the first decentralized, distributed open source digital currency protocol to gain massive adoption. No sooner the concept of digital currency was introduced by Satoshi Nakamoto in his whitepaper, it garnered a lot of interest from computer scientists and cryptographers. Some of these people had already tried creating a digital currency system with limited success. But Bitcoin offered a solution to many problems that were faced by the researchers until then. These very solutions were the reason for Bitcoin to become one of the widely adopted digital currencies in the world till date. The main intention behind the creation of…
Mining is a vital component of the bitcoin network. The bitcoin mining operation has grown from being an individual scale operation to one of an industrial scale where companies are setting up data centers with hundreds of mining ASICs, leading to a drastic increase in the sale of miners. As, the difficulty of mining operations increase, the mining units are also becoming more technically advanced. BW.com, a Chinese bitcoin mining company has recently published an update announcing the success of its latest 14nm bitcoin AISC miners. According to the company’s announcement the first batch of their latest 14nm bitcoin miners are completely sold out and still the demand for mining hardware grows. The increasing need for more powerful mining hardware to ensure…
China is one of the major economies and a regional superpower in Asia. The vast country with the highest population in the world is also the country that tops the charts with the highest hashing power. The Chinese Bitcoin community is actively involved in Bitcoin mining operations and the Chinese mining pools are in control of the majority of overall Bitcoin mining. According to the latest data available on Blockchain.info, the top three Bitcoin mining pools are AntPool, F2Pool, and BTCC Pool. AntPool is a mining pool operated by the company known for AntMiner ASIC miners, BitMain while BTCC Pool is operated by the well-known Chinese Bitcoin exchange BTCC. All the three put together, will make up to about 67 percent of the total share. BTCC is one of the largest…
Bitcoin has become a very popular form of money, attracting interest from all over the world. Not all of that attention is positive, however, as various companies have taken it upon themselves to use Bitcoin as a promotional tool for Ponzi schemes and MLMs. Needless to say, most of these projects are scams, hurting the public image of Bitcoin in the long run. Bitclub is one of the longest-running Ponzi schemes openly advertising Bitcoin, in an attempt to lure in novice investors. Also read: Ethereum Spam on Reddit To Blame on /r/Bitcoin Censorship The Bitclub MLM Ponzi Scheme For anyone who has ever heard of Bitclub, they might remember how this company is supposedly selling cloud mining contracts to investors. The main goal of cloud mining is to let people…