Facebook to Develop Stablecoin for WhatsApp

Company plans to launch a service in the Indian market, where WhatsApp has about 200 million active users
21 December 2018   425

The social network Facebook is developing a dollar based stablecoin for users of the popular WhatsApp messenger, Bloomberg reported, citing informed sources.

Company plans to launch a service in the Indian market, where WhatsApp has about 200 million active users. In addition, the volume of the money transfer market in the country in 2017 amounted to $ 69 billion, which brought the country to the first place in the world.

At the same time, Facebook Inc. also is working on the concept of custodial solutions for currency reserves at the base of stablecoin, sources say.

Facebook has opened five vacancies for blockchain specialists, including the positions of a researcher and data engineer, as well as a manager of a team of blockchain specialists.

Development of blockchain solutions on Facebook is the responsibility of former PayPal president David Marcus, who for some time served on the board of directors of the American cryptocurrency company Coinbase.

Bitcoin SV Blockchain to Undergo Reorganization

This happened due to the fact that some blocks were rejected by Bitcoin SV blockchain
19 April 2019   104

Several blocks were rejected by the Bitcoin SV network after the addition, which caused the re-organization in the blockchain's history.

Almost each time someone is trying to produce a very large block on the BSV chain, there’s a reorg. Just an hour ago our Blockchair engine has witnessed a 3-block reorg (I think that's a record)! Blocks #578640–578642 got orphaned by a longer chain because they were too big

Nikita Zhavoronkov

Lead developer, Blockchair

The large blocks, about which Zhavoronkov writes, are no longer displayed by the blockchain browser, since they are not part of the main chain in which they were located until a certain moment, until they were replaced by another chain, which eventually became dominant.

This is basically exactly the problem the BU gigabock testnet identified. At sizes > 100mb the mempools were so out of sync that blocks were basically transmitted as full blocks.

BSV had ONE 128mb block and it caused a six block reorg. On the BU testnet sustained 128mb blocks caused a total breakdown of the chain where there were so many reorgs that every node had a different view of the state of the blockchain.

Chris Pacia

Developer, Bitcoin

Thus, Chris assumes that the problem is caused not by the malicious actions of the network members, but by its functional bug. 

This update is noticeable in the background of recent Bitcoin SV delisting campaign, which was started by the number of big exchanges as a reply to lawsuit by Craig Wright, BSV supporter, against anonymous critic.