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LEOcoin Project Launches Mobile App on Android and iOS

Source: bitcoin

LEOcoin

LEOcoin, a cryptocurrency marketed towards entrepreneurs, has launched its mobile application for Android and iOS platforms.

Disclaimer: This article is sponsored by Bitcoin PR Buzz.

According to a press release, the app is informational in nature, providing users with educational resources on cryptocurrency and blockchain technology, as well as real-time data on LEOcoin itself.

The Learning Enterprises Organization (LEO)—the group behind LEOcoin— reported that, within the first days of its launch on Android and iOS, the application got over a thousand downloads

This mobile app comes as the cryptocurrency reportedly gains ground in the world’s major economies. According to the team behind the coin, their “LEO at the Great Wall” event in China during late September was well received, a press release stating that “entrepreneurs, bureaucrats and other important personalities” attended.

LEOcoin: Cryptocurrency for Entrepreneurs

 

LEO started this project with the intent to make a cryptocurrency tailored towards entrepreneurs and businesspeople. The coin advertises the same privacy, speed and security of bitcoin, but with a pure Proof of Stake algorithm that makes the network accessible to everyone.

According to LEO, the community surrounding the cryptocurrency project has grown to over 206,000 members, as well as a strong base of merchants supporting the use of the currency.

“LEOcoin has a huge potential as a cryptocurrency,” cryptocurrency expert Babic Mladen told press. “It is difficult to predict its growth in the immediate future. But, given that this is the next-generation means of payment, there is much to do in the field.”

Expressing optimism for the project, Mladen concluded, “In the long run, LEOcoin and the LEOcoin ecosystem will definitely make it to the top in terms of market cap.”

At press time, CoinGecko reported  LEOcoin to have a value of roughly $0.5 USD, with a total market cap of nearly $42.9 million.

What do you think of this cryptocurrency project? Let us know in the comments below.


 

 

Images courtesy of LEO.

The post LEOcoin Project Launches Mobile App on Android and iOS appeared first on Bitcoinist.net.

LEOcoin Project Launches Mobile App on Android and iOS

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Kvě 14

Creditbit Claims to Be ‘Ten Times Faster’ Than Bitcoin

Source: bitcoin

Creditbit

Creditbit, an “open source digital currency protocol,” reports that it is “10 times better than Bitcoin when it comes to the speed and rate of transactions.” The team behind this altcoin is preparing for what they believe will be “mass adoption” of their digital currency project.

Disclaimer: This article was provided by Bitcoin PR Buzz. Bitcoinist is not affiliated with the firms represented by Bitcoin PR Buzz and is not responsible for their products and/or service.

The project team says that the coin’s “rapid adoption and development has positioned Creditbit as the ‘Future of Money.’”

This digital currency project was launched in 2015 with the goal of “reach[ing] out to every individual on the planet,” with the hopes of providing blockchain-based banking and financial services. The team says that difficulties with the traditional finance system makes it “almost impossible” for a large portion of the world to have their own bank accounts. The team cites centralization and “decision makers,” as sources for these difficulties.

This cryptocurrency differentiates itself from Bitcoin by “implement[ing] the changes to prevent [Bitcoin’s] issues from repeating on their platform.” The altcoin uses a Proof of Work-Proof of Stake hybrid, which solves “the no-take-at-stake problem generally faced by the Proof of Stake (PoS) systems,” according to the development team. The altcoin’s developers also say that it is capable of processing transactions “ten times faster than Bitcoin,” which has wait times of around 10 minutes. Reportedly, transactions can be confirmed in less than 30 seconds.

Technical Specifications

Hashing Algorithm: X11

Algorithm Type: Hybrid POW/POS, POW only for the first year, POS 8% annually

Stake Age: Minimum – 24 hours; Maximum – 1 year

Block Reward: 100 coin

Halving: For every 129600 Block (the 4th re-target at block 525600 is the end of PoW)

Supply: 100 Million CRBIT (Creditbit tokens)

Block Target: 1-minute block target; 15 minutes diff. re-target

RPC port: 5555

P2P port: 5556

POW: 12,3 million coins

POS: The rest supply until 100 million

About Creditbit

Creditbit is an open source cryptocurrency protocol released under MIT/X11 license. The protocol enables implementation of financial services over its blockchain to make it accessible to everyone.

The project has gained a lot of traction since its launch, and wallets are currently available for almost all platforms. The coin is currently being traded on 7 different exchanges viz., Bittrex, Livecoin, YoBit, C-Cex, Cryptopia, Bloombit, and Bitsquare. The cryptocurrency has also been added to Coin Payments.

Users can contribute to the network by keeping their wallets open in a process called staking. Staking is rewards with up to 8 percent of the Creditbit holding every year. Staking helps the platform optimize the speed of transactions.

With increased adoption among individuals, traders and merchants, the altcoin has taken their first steps towards mass adoption.

To learn more, please visit:

Media Contact:

Name: Petros Anagnostou

Email: support@creditbit.org

Country and Country Location: Ljubljana, Slovenia

Find the project on different platforms:

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Creditbit Claims to Be ‘Ten Times Faster’ Than Bitcoin

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Dub 28

Andreas Antonopoulos Makes Bold Prediction on Bitcoin Consensus

Source: bitcoin

Antonopoulos

Andreas Antonopoulos surprised a crowd at a Berlin Bitcoin conference last week by claiming that, by the end of this year, Bitcoin’s consensus algorithm will be totally changed.

Also read: BitcoinAverage Report: Bitcoin Price Hits 2016 High

Antonopoulos: Bitcoin Will Become a ‘Hybrid’

The prediction comes after a much-publicized block size debate in which developers have disagreed on how to update the Bitcoin system in order for it to keep pace with growth in transaction demand.

Antonopoulos.com

“By probably the end of 2016 Bitcoin will have a hybrid of Proof-of-Work proof of stake system,” Antonopoulos told conference attendees in a video available on YouTube. “Because Lightning Network is a Proof-of-Stake system, and people haven’t yet realized that Lightning Network is a proof-of-stake system.”

The repeat Joe Rogan guest continued: “In order to set up a functioning channel on Lightning Network, you have to commit money to a multi-sig address, and the more money you have committed to a multi-sig, the [higher] transaction rate it can handle and the more fees it can generate locally. Only it’s a completely trustless proof-of-stake system based on Bitcoin transactions running on top and guaranteed by Bitcoin’s proof-of-work.” Antonopoulos notes he only realized this six months ago.

“I had to go to one of the developers who is writing it, just to make sure I am getting this right. He said, ‘yeah you could call it [a Proof-of-Stake].’”

According to Antonopoulos, Proof-of-Stake could play a large role in Bitcoin’s consensus algorithms in the future. He claims it could allow the Bitcoin network to scale with increasing transaction rates better than does the current Proof-of-Work model.

Proof-of-Stake is an alternative to Proof-of-Work consensus algorithms. They are both similar in that they attempt to provide consensus and prevent double-spending.

Proof-of-Work involves some type of work in order for a block to be produced. Proof-of-Stake requires users to put up some amount of coins which correlates with how much digital currency they can mine.

Bitcoin’s Proof-of-Work currently cannot scale due to the block size limit. Certain Bitcoiners say this might be solved with a Proof-of-Stake system.

A Proof-of-Stake system theoretically results in lower transaction fees as less computing power is needed to produce blocks. Bitcoin’s Proof-of-Work entails producing data, a time-consuming endeavor. Difficulty in Proof-of-Work systems can vary. Oft a random process, this trial-and-error method of computational problem solving can be designed  for a low probability for a block to be produced, as is the case with Bitcoin. Bitcoin’s Proof-of-Work  is based on the SHA-256 cryptographic hash function.

Lightning Network strives to use smart contract functionality in the blockchain for instant payments across its network of participants. The Lightning Network is designed as an added layer to the blockchain. It combines Bitcoin’s blockchain transactions with its native smart-contract scripting language. According to the Lightning Network, this means a “secure network of participants which are able to transact at high volume and high speed.”

Lightning wants to conduct transactions off-blockchain, removing the limits of using the blockchain: By making the transactions and scripts parsable, the smart-contract can be enforced on-blockchain. Only in the event of non-cooperation is the court involved – but with the blockchain, the result is deterministic.”

In February, Antonopolous tweeted: “I don’t get all the animosity and conspiracy around Lightning Network. I think it’s really [an] amazing innovation & great solution to scaling.”

Developers on Bitcoin.StackExchange are not as convinced as Antonopolous is about designating Lightning Network a pure Proof-of-Stake system. Staking usually entails updating a network’s status. One earns fees by helping to validate and secure the network. Lightning Network also offers a smart contract platform. Participants can earn fees by providing liquidity. Nodes on Lighting Network forward payments. Lightning Network does not verify nor secure transactions. Consensus, rather, is created by Bitcoin’s Proof-of-Work.

Bitcoinist.Net reached out to Lightning Network but did not hear back before publication.

What do you think about Antonopoulos’ comments? Let us know in the comments below!


Images courtesy of LondonReal, Andreas Antonopoulos. 

The post Andreas Antonopoulos Makes Bold Prediction on Bitcoin Consensus appeared first on Bitcoinist.net.

Andreas Antonopoulos Makes Bold Prediction on Bitcoin Consensus

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