Burst to Undergo Hard Fork

The first fork of Burst coin is planned to happen around block 470 000, which will be created approximately in the middle of March
22 February 2018   4222

Burst is built with the blockchain technology, meaning that transactions are secured by military-grade cryptography. Burst is ruled by its network of users and cannot be altered by governments. Thanks to the unique Proof-of-Capacity consensus algorithm, miners are paid in burstcoins to secure the network. 

At the beginning of January 2018, Burst team has published its Roadmap for 2018, unveiling the future development plans. The adoption of 2.0.0 version of wallet is going to determine the date of deployment of the upcoming forks.

Once the network shows its support for hard forks, they will be occur according to a certain block height:

  • First hard fork: Includes dynamic block size and transaction fees, the PoC2 protocol and some of the Dymaxion code, but inactive. The fork is planned to happen around block 470 000, which will be created approximately in the middle of March
  • Second hard fork: Implementation and activation of the remaining Dymaxion code. Users should be able to play with it on the TestNet before that
  • Third hard fork: Implementation of the PoC3 protocol

At the moment of press, these are main market parameters of BURST:

Average price: $0,033750
Market cap: $60 761 649
24h volume: $951 026

Experts Ask China Don't be in Rush For Own Crypto

Ex deputy chairman of the Bank of China said the CB should take part in the development of international regulation of crypto assets firstly
27 January 2020   123

China should strengthen cooperation with other countries to regulate the cryptocurrency industry, and not accelerate the development of its own digital currency, experts say. It is reported by the South China Morning Post.

So, the former deputy chairman of the People’s Bank of China, Zhu Min, noted that the central bank, which is developing a digital yuan in many ways as Facebook’s Libra response, should first of all take part in the development of international regulation of such assets.

Ba Shusong, chief China economist for the Hong Kong stock exchange, also believes that monitoring digital currencies requires a system that is controlled from different angles, as they have the potential to change the global financial system.

You would need to first improve the regulatory framework for [financial] technology. There is a need for global cooperation for an alternative regulatory framework.

 

Ba Shusong

Chief China economist for the Hong Kong stock exchange

 

Many fear that the popularity of Libra could strengthen the dominant role of the US dollar. At the same time, Deutsche Bank analysts believe that the digital yuan will undermine the primacy of the dollar in the global financial market.

Hiromi Yamaoka, the ex-head of the Bank of Japan supervisor of payment and settlement systems, also emphasized that the upcoming launch of Libra has caused competition among central banks seeking to make their currencies and services more attractive.

Something like Libra would make transactions costs much cheaper. Major central banks need to appeal that they, too, are making efforts to make settlement more efficient with better use of digital technology.

 

Hiromi Yamaoka

Former head of the Bank of Japan’s (BOJ) division overseeing payment and settlement systems