CoinGeek.com Funds €3.6 mln to Scale BCH with 1 TB Blocks

16 January 2018   1849

CoinGeek.com, the cryptocurrency media outlet and blockchain company, announced on Monday that it is funding of up to 3.6 million Euro to support Terab, an open source initiative that will solve a key technical issue to enable the Bitcoin Cash chain to massively scale to terabyte size blocks and 7 million transactions per second.

The Terab project will be managed by Lokad, the French quantitative supply chain technology provider, and will receive technical support from nChain, the blockchain research & development specialist.

One of the major criticisms of Segwit Bitcoin is the apparent inability to scale to the level of transactions that payment networks such as Visa and Mastercard can provide. For cryptocurrencies to be competitive in the global payments space, high volume transaction scaling is vital but, not, as many have suggested, impossible and Bitcoin Cash is now firmly on that road.

 

CoinGeek statement

Joannes Vermorel, Lokad founder,  has recently advocated that terabyte-size blocks are viable – but only on the BCH chain. A single terabyte block (added every 10 minutes) can contain about 4 billion Bitcoin transactions, and provide capacity of 7 million transactions per second.  

He added that the scale of a network with 1 TB blocks would be immense, and enable BCH to power not just monetary transactions but machine-to-machine data transactions of many types.

Real Time Rates for 6 Cryptos launched by Thomson Reuters

Thomson Reuters is running a cryptocurrency real-time rates: the new service is expected to provide “reliable, real-time information” for 6 crypto coins
15 May 2018   181

The stated goal is to provide efficiency and clarity for investors within the world trading field. The new Cryptocurrency Real Time Rates are already available over a customized API interface on Thomson Reuters Eikon platform. The app is displaying a trading data from different crypto exchanges including Bitflyer and Bitpoint. Reuters affirms that more trading platforms would be added in the future. 

The announcement comes after a recent Thomson Reuters survey stated that crypto trading by financial firms is likely grow this year. Over 20% of 400 finance firms taking part in the study are deciding about the entering trading crypto assets within 1  year. That means that one in every five of the undisclosed businesses plans to set direct contact with cryptocurrencies in 2018.

Pricing data for the real-time rates will be stated for six cryptocurrencies, which were not mentioned in the report. The start of the service could reveal that Reuters is thinking about the entering the digital asset class on ‎its own market platforms. In December of 2017, the mass media added bitcoin cash (BCH) to Eikon. BCH became only the third cryptocurrency to list on the platform after bitcoin core (BTC) and ethereum. ‎

The latest release follows the announcement from CME Group which is running a daily price benchmark for ‎Ethereum, according to Financial Magnets. The service will be given in partnership with the platform Crypto Facilities.‎ Earlier this year, Thomson Reuters Corp. declared about the launch of a new version of the Marketpsych Indices sentiment data feed, which uses analysis of bitcoin market sentiment.