GDAX may pause BTC trading

GDAX exchange announces its plans for August the 1st, 2017
14 July 2017   2119
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.

Genesis Conference to be Held in London

Genesis Conference will cover research and development, regulation, economics and applications issues, taking place in London on February 22
22 February 2018   73

Genesis London Conference will take place on February 22, tackling the most pertinent issues in blockchain space: research and development, regulation, economics and applications.

Genesis London is a platform for researchers, developers and generally anyone interested in blockchain, and its priority is to share knowledge, facilitate productive discourse and filter out the hype.

Location: The CityPoint building, 1 Ropemaker St, London, EC2, UK
Date and time: 9:30AM - 8PM, February 22, 2018

The agenda of the conference includes Privacy and Confidentiality Techniques for Blockchains; Permissioned Business Blockchain Applications and Use-cases; Scalable, Transparent and Post-quantum Secure Computational Integrity, with Applications to Cryptocurrencies; A Rational Protocol Design Treatment of Bitcoin, and more.

The headline speakers include Patrick de Laive, co-founder of TNW; Margarita Khartanovich, head of insight at Binary District; Jack Gavigan, chief operating officer at ZCash; Jeremy Kahn, technology writer for Bloomberg, and many more.