Japanese bitFlyer to support Bitcoin Gold completely

Japan’s largest and best-funded Bitcoin exchange announces its plans on Bitcoin Gold
24 October 2017   2900

Japan’s largest and best-funded Bitcoin exchange, bitFlyer, unveils its plans concerning the upcoming Bitcoin hardfork. Thus, unlike many other companies, the company is going to support the new cryptocurrency - Bitcoin Gold. 

As detailed, bitFlyer is to distribute Bitcoin Gold (BTG) to users prior to the split of the Bitcoin blockchain, as well as to launch trading services in support of the new cryptocurrency, enabling users to sell, deposit and send BTG from their bitFlyer accounts.

We will credit you with an amount of BTG corresponding to the amount of Bitcoin (BTC) in your bitFlyer account prior to the split. 2 If the BTG split is deemed by bitFlyer to be permanent and secure in regards to customer assets, you will be able to own both BTC and BTG in your bitFlyer account.
 

bitFlyer's announcement on Bitcoin Gold

According to the company, Bitcoin Gold withdrawals and deposits will be enabled by the exchange “after sufficient observation of the stability in the BTG chain after the split”.

BIS to Issue Research on Bitcoin Problems

Researcher from the Bank of International Settlements believes BTC should abadon PoW
22 January 2019   82

Researchers from the Bank for International Settlements published a report in which they stated that only by abandoning the Proof-of-Work mechanism of consensus, Bitcoin could get rid of its current and future problems.

According to them, in the future, when the size of the rewards for mining drops to zero, transaction processing fees alone will not be enough to justify the miners' activities. Consequently, the Bitcoin network will become so slow that it will be impossible to use it, the authors argue.

Simple calculations suggest that once block rewards are zero, it could take months before a Bitcoin payment is final, unless new technologies are deployed to speed up payment finality. 
 

Raphael Auer

Principal Economist, BIS

The BIS admits that second-level solutions such as the Lightning Network can ease the task, but “only fundamental remedy would be to depart from proof-of-work.” According to the report, the transition to alternative consensus mechanisms “require some form of social coordination or institutionalisation”.

The Bank for International Settlements contributes to the cooperation of 60 central banks from various countries of the world, which account for 95% of global GDP.

Earlier this month, the agency disclosed statistics on central bank initiatives in the field of state digital currencies. According to him, about 70% of central banks conduct research related to the issuance of national digital currencies, but plans for their implementation and the perception of the issue vary considerably in different countries