Bitcoin Scaling Project Segwit2x releases New Code on June 30th

A controversial scaling proposal is moving ahead in adherence with its previously announced timeline
29 June 2017   1754
Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks

The proposal, which has been praised by some as a pragmatic solution to the network's perceived capacity issues and derided by others as a deal that misunderstands the nature of bitcoin development and the network's intended design, is gaining momentum as Bloq co-founder and Segwit2x lead developer Jeff Garzik confirmed to CoinDesk that new code is set to be released on Friday, following two weeks of alpha release testing.

Thus, the last two weeks of development have been dedicated to testing, with the firms such as Abra, Bitfury, Blockchain, BTCC, OpenBazaar, Purse and Xapo using a new testnet ("testnet5") and a so-called faucet that spits out fake coins to test the system.

Bitcoin

Is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen

Now, as new information is coming out about a proposal, the aspects of the plan are clarified for the community and the participants: last week mining pools representing 80% of the bitcoin hashrate agreed to run the code that could lock in SegWit before 31st July. After that, three months later, is the hard fork to boost the block size. However, there’s still a threat that the fork could potentially result in a split into two competing tradeable bitcoin assets if not everyone agrees to upgrade their software to the change.

While this is the plan for later in the summer, bitcoin developer James Hilliard mentioned that the details of the 2MB hard fork portion are still up for debate.

Australian Company to Issues Crypto Backed Loans

In case of default, financial company named Helio may sell cryptocurrency to cover losses
10 December 2018   89

Helio from Melbourne began issuing loans secured by cryptocurrencies, Bitcoin.com reports.

The service allows Helio clients to borrow from 1000 Australian dollars ($ 720) on the security of cryptocurrency assets. At the moment, the company accepts Bitcoin, Ether, Litecoin and Ripple.

Helio client crypto assets are stored in a secure wallet, company representatives say. In case of default, the company may sell cryptocurrency to cover losses.

Helio has a credit license (ACL) issued by the Australian Securities and Investments Commission (ASIC). As stated by the company's founder, John O’Shy, Helio was the first licensed organization in Australia to launch this service. According to him, the country has a developed cryptocurrency market, however, suppliers who want to provide loans secured by digital assets are not enough.

In June, the Japanese corporation Abic Corporation began to issue loans secured with Bitcoin