Furor over management decisions, an abrupt CEO exit, a rising competitor. The last few months haven’t been kind to Reddit, the social networking giant that raised $50m in new funding in September from an A-list cast of VC firms including Andreessen Horowitz and Sequoia Capital alongside angel investors including Snoop Dogg and Peter Thiel. However, if one former employee and bitcoin developer succeeds on his vision, Reddit’s biggest challenge could be a decentralized, bitcoin-based alternative. Called DATT (short for Decentralize All the Things), the still-in-development social network recently held a global hackathon on 1st August aimed at kickstarting the project. Project leader Ryan X Charles, who was previously hired by Reddit to helm its…
More than 30 Bitcoin Core developers and contributors have signed an open letter to the bitcoin community about the process of reaching a technical consensus for bitcoin scalability. Signatories on the list include current Bitcoin Core maintainer Wladimir van der Laan, Blockstream co-founder Pieter Wuille, tree chains developer Peter Todd and litecoin creator Charlie Lee, though former Bitcoin Core maintainer Gavin Andresen and bitcoinJ developer Mike Hearn are notably absent. The letter follows weeks of heated debate regarding whether the network should be augmented to allow for more transactions to be processed per block. The current version of Bitcoin Core processes blocks approximately every 10 minutes, with a data limit of 1MB. Andresen and Hearn are…