MultiChain 1.0 released

An open source platform for blockchain applications beta-version released
03 August 2017   925
Blockchain

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

The developer of the open source platform for the creation of private blockchains, Coin Sciences Company, announces the launch of a modified version of Bitcoin's software  for enterprise use. 

Bitcoin

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

As well as MultiChain 1.0 now is into production, the company also unveils the addition of 14 new members to the MultiChain Partner Program, among which are Cognizant, Indra Sistemas, Aicumen, Bambusoft, Chainfrog, CrimsonLogic, Encrypgen, Hypatia Technologies, Maroon Studios, Medici Ventures, Project Radium, SolarLab, The Apollo Group and Tilkal.

Now, after 2.5 eyars of the development, MultiChain 1.0 is available for download for Linux, Windows and Mac. According to the data provided, since its first alpha release in June 2015, MultiChain has received over 60,000 downloads, more than half of which were during 2017.

We’re delighted to have reached this milestone. Developing the first production release of MultiChain has been an immense challenge, and we’ve learned a great deal about our users and their requirements along the way. Work has already begun on MultiChain 2.0, which will be the first version of MultiChain to come in two editions – Community (open source) and Enterprise (commercial). 
 

Dr Gideon Greenspan
CEO and Founder of Coin Sciences Ltd

The MultiChain Partner Program has now been split into two tracks – Platform Partners who develop applications for third parties on the MultiChain platform, and Product Partners who are using MultiChain in their own proprietary solutions. 

Apart from that, the company is already hard at work developing MultiChain 2.0 and hope to have a first preview release available before the end of the year.

Bear Market to Hit Mining Hard

BitMEX research division presented an analysis of the impact of market decline on the mining industry
11 December 2018   75

The cryptocurrency market has experienced a marked decline over the past weeks. The BitMEX research division presented an analysis of the impact of these events on the mining industry. Bitcoin hash rate has fallen by 31% since the beginning of November, which is equivalent to the capacity of 1.3 million Bitmain S9 devices. From this, BitMEX concludes that miners as a class are in a difficult situation, however, they may have different conditions, and those who pay more for electricity, are forced to turn off their equipment first, while others may still be quite viable.

The decrease in the price of Bitcoin by 45% since the beginning of November has already caused two recalculations of the complexity of mining to the lower side - by 7.4% and 15.1% on November 16 and December 3, respectively. The first recalculation turned out to be the largest since January 2013, the second - since October 2011.

Bitcoin mining revenue fell from $ 13 million per day in early November to $ 6 million per day in early December. The fall in the size of the miner's encouragement turned out to be even more rapid than the fall in the price of cryptocurrency. This is due to the delay in recalculating the complexity of mining. For the six-day period ending December 3, 21.8% fewer blocks were mined than expected, since the miners left the network before recalculating the difficulty. As a result, in addition to reducing the size of the miners' encouragement in dollar terms, due to lower asset prices, they received 21.8% less bitcoin awards.

One of the popular reasons for the recent decline in the cryptocurrency market is that miners sold bitcoins to cover their costs of hash warsin the Bitcoin Cash network. The monitoring platform Boltzmann recorded an unusually large sale of Bitcoin by the miner on November 12, that is, 3 days before the hard fork of Bitcoin Cash.

BitMEX assumes that the actions of miners over the past weeks could have played a significant role in reducing the market, however, recommends not overestimating their value and reminds that in a bearish trend, prices continue to fall regardless of asset movements and news.