Blockchain is shared, trusted, public ledger of transactions, that everyone can inspect but which no single user controls. It is a cryptographed, secure, tamper resistant distributed database. It solves a complex mathematical problem to exist. A blockchain is the perfect place to store value, identities, agreements, property rights, credentials, etc. Once you put something like a Bitcoin into it, it will stay there forever. It is decentralized, disintermediated, cheap and censorship resistant. Applications of Blockchain: Bitcoin (cryptocurrency), Namecoin (wants to replace the entire DNS system of the internet) or Ethereum (Turing complete virtual Machine where you can run any kind of smart contract); Any centralized service like Ebay, Dropbox can potentially be built in a decentralized way using blockchain technology, considerably lowering transaction costs. (Source: BlockchainHub Glossary)

The Infographic refers mostly to how public blockchains are built. It takes Bitcoin as an example. The way consensus is achieved in the Bitcoin blockchain is by a process called mining. Mining or Proof-of-Work (PoW) algorithms work by solving complex mathematical problems. This process requires computers to run at full capacity 24 hours a day consuming a lot of energy.


Source: https://blockchainhub.net/blog/infographics/what-is-a-blockchain/

Source: https://blockchainhub.net/blog/infographics/comparing-bitcoin-to-a-country/
Source: https://coinlist.me/
Posted: Mar 7, 2018

Fujitsu Launches “Blockchain Asset Service”

Read more here: https://www.crypto-news.net/fujitsu-launches-blockchain-asset-service/
Posted: July 09, 2018
By: Zoran Spirkovski

Fujitsu Direct Store has introduced the “Fujitsu Intelligent Society Solution Blockchain Asset Service” on June 6th, 2018. The newly introduced system tokenizes coupons and loyalty points and makes them storable and usable by transferring the information onto a blockchain. This implementation should provide faster data transfer and storage on customer’s transactions in a decentralized register.

The company is a daughter company of Fujitsu Ltd., a Japanese ICT and business leader and blockchain-wise, which is also a participant in the Hyperledger project. Many great things are expected to come from this implementation, and it is essential that big brands keep joining the blockchain industry.

Litecoin (LTC) announces strategic partnership with TokenPay to buy German bank

Read More Here: https://cryptocoinspy.com/litecoin-ltc-announces-strategic-partnership-with-tokenpay-to-buy-german-bank/
Posted: July 10, 2018


Litecoin founder Charlie Lee has just announced that the Litecoin Foundation and crypto payment platform TokenPay have entered into a strategic partnership. As a first step they will be buying a stake in the German bank WEG Bank AG, and then will start “to work on many exciting consumer-driven crypto solutions.”

More details here in twitter:
https://twitter.com/SatoshiLite/status/1016722441018568704/photo/1

TokenPay describe the partnership as creating a “leading force in creating and delivering to the market modern consumer-driven crypto FinTech solutions.” TokenPay recently acquired 9.9% of WEG bank (the maximum ownership allowed under German law without having regulatory approval) with the option of buying the remainder when approval is achieved.

As of today, this stake “was further transacted to the benefit of Litecoin Foundation” in exchange for a “broad and comprehensive marketing and technology service agreement” which should “benefit TokenPay and its related cryptocurrency and business operations.”

According to Lee, the partnership “is a huge win-win” for both parties. TokenPay will derive benefit from Litecoin’s “high-level blockchain mechanization capabilities,” while integrating with an established bank will “make it simple for anyone to buy and use Litecoin.”

Japanese Internet Giant GMO Boosts Own Bitcoin Mining Output With 7nm Rigs

Read More Here: https://news.bitcoin.com/japanese-internet-giant-gmo-bitcoin-mining-output-7nm-rigs/
Posted: July 10, 2018
By: Kevin Helms

Japan’s internet giant GMO has released the latest results of its cryptocurrency mining operation. The company has also started using 7nm rigs for its in-house mining business. News.Bitcoin.com talked to a GMO spokesperson to find out more details.

IOTA Tangle Transactions Nosedive as Spammers Create Parasite Chains

Read more here: https://news.bitcoin.com/iota-tangle-transactions-nosedive-as-spammers-create-parasite-chains/
Posted: July 10, 2018
By: C. Edward Kelso

IOTA Foundation Head, Lewis Freiberg, attempted to explain alleged scalability and transaction issues at the project. The world’s number 9 cryptocurrency by market capitalization is under some pressure to clarify why its answer to traditional blockchain technology, the Tangle, is increasingly having to deal with spammers who create parasite chains or ‘Side Tangles.’   

The Daily: Decentralized Exchanges – Hacked

Source: https://news.bitcoin.com/the-daily-decentralized-exchanges-new-and-hacked-and-some-lost-coins/
Posted:  July 10, 2018
By: Lubomir Tassev

View image on Twitter

On Monday, Bancor reported it had experienced a “security breach”. In a tweet, the company assured its customers that “No user wallets were compromised” and informed them that the platform is currently under maintenance.

Updating users on the situation, the exchange later said the details of the breach are still being investigated but released some of the findings. According to the tweeted statement, a wallet used to upgrade some smart contracts has been compromised and used to withdraw ethereum from the BNT (Bancor’s native token) smart contract. The stolen amount, 29,984 ETH, is worth approximately $12.5 million.