GDAX may pause BTC trading

GDAX exchange announces its plans for August the 1st, 2017
14 July 2017   3574
Bitcoin

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

The countdown towards the most important day in Bitcoin’s history so far has begun. On August the 1st, it will be decided what way Bitcoin chooses and what the future has in stock for it.

On this day, the Bitcoin User Activated Soft Fork (UASF) is to be activated. The UASF is intended to address scaling issues faced by the Bitcoin network by accelerating the adoption of Segregated Witness. 

It goes without saying that processes as significant as this one may pose a considerable threat to the exchange's stability. That's why one of the most popular exchanges GDAX is considering Bitcoin trade suspension the day UASF to be launched. 

GDAX on Twitter  GDAX on Twitter 

Blockchain

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

There are two possible outcomes expected ones UASF is activated: 

  • One blockchain becomes dominant, resulting in the other blockchain having low community adoption and value.
  • Both blockchains are adopted, co-existing and operating independently of one another with roughly equal community adoption and value.

As Adam White, GM of GDAX, reports, in either scenario GDAX is planning to implement safeguards to ensure the safety of the customers’ funds. Thus, the exchange will temporarily suspend the deposit and withdrawal of bitcoin on GDAX and may pause the trading of bitcoin as well.

This decision will be based on our assessment of the technical risks posed by the fork, such as replay attacks and other factors that could create network instability.
 

Adam White
GM of GDAX

It is also being underlined that GDAX will continue supporting the growth and scaling of the Bitcoin network.

DFINITY to Postpone Internet Computer Launch

The project is currently assessing the time frame for the completion of the MVP
14 December 2018   67

The blockchain project Dfinity reported in its blog postponing the launch of its main product.

Previously, Dfinity chief scientist Dominic Williams said that his company intends to create an “Internet computer that will become cloud 3.0”, compete with Google Cloud and Microsoft Azure, and also change the face of the blockchain industry.

According to him, the project team is developing a technology that has 150 higher performance than Ethereum blockchain and 900 times - Bitcoin. In essence, the project creates a “giant Internet computer”, whose work will be supported not by one company, but by all participants of the Dfinity protocol.

Initially, the release of a minimum viable product (MVP) was planned for the first quarter of 2019. However, according to company representatives, working on a trimmed version may slow down progress in creating a complete product.

The project is currently assessing the time frame for the completion of the MVP. Also, noted in Dfinity, before the end of the first quarter a new set of development tools (SDK) will be released, which will shed light on the future plans of the company.

In August, the Dfinity Foundation attracted $ 102 million of investments in the framework of a closed tokensale. Prior to this, at the beginning of the year, the Dfinity Foundation raised $ 61 million from Andreessen Horowitz and Polychain Capital.