PBOC fake news shakes Bitcoin

The news about People's Bank of China officially banning the exchanges may be fake, though crushes Bitcoin
13 September 2017   1153

The People's Bank of China (PBOC), which carries out monetary policy and regulate financial institutions in mainland China, has shaken the cryptocurrency world with the ICO ban at first, and then with the official ban of cryptocurrency exchanges.

However, the majority of the cryptocurrency community speculate that the last one is nothing but fake news

Thus, back to September 8th, Samson Mow, CSO of Blockstream and CEO of Pixelmatic, claimed that the China exchanges shutdown might be just a conjecture.

Yet, as reported by cnLedger, now a fake screenshot about PBoC officially banning the exchanges has triggered huge sells in the market.

It goes without saying that such news influences Bitcoin price significantly. At the time of writing, the price of the first cryptocurrency is about $3,789 and its market capitalization is $62,894,655,665. 

Bitcoin price chart on coinmarketcap.com Bitcoin price chart on coinmarketcap.com

Still, some people argue that whether the Chinese news is fade or real, the Chinese market is not so important.

What the future has in stock for Bitcoin and the whole crypto world, remains to be seen. We'll keep you updated. 

Ethereum Scaling Solution Raiden to Launch Last Testnet

As noted by the developers, after implementing the new solution, the Ethereum network will be able to provide more than a million transactions per second
20 July 2018   133

On Thursday, July 19, at the Dappcon developer conference in Berlin, the last test network of Raiden for the Ethereum blockchain was launched, CoinDesk reports.

The release includes a minimal implementation of the scaling solution, which will allow the transfer of Ethereum tokens outside of the main blockchain. This is the last test phase before the introduction of technology into the core network of Ethereum.

It's the first step towards going to the mainnet. We really want people to really test this so we have a user interface, we have an API and we've created an open Github for everything they could find, so if we go hopefully bug-free on the mainnet.

Lefteris Karapetsas

Core Developer, Raiden

According to him, the new release represents an early implementation for the core network and contains a new rewritten code of smart contracts and payment channels that can be restored in case of unintended closure.

Also, Karapetsas urged developers to join the test network to help detect possible bugs, adding that a bounty program will be launched to encourage this activity.

The release date for the main network has not yet been assigned, but the developers intend to follow this earlier promise and launch Raiden this summer.

Karapetsas also promised to publish regular updates and code optimizations after the full release, adding that Raiden will complement other Ethereum scaling solutions that are currently being developed.

Raiden is essentially the payment channel network for ethereum, it's supposed to help us scale token transfers. The long term goal would be to have people use Raiden from a mobile device and be able to make off-chain token transfers just from their phone. That would be the long term vision, it would probably work in combination with various scaling solutions, sharding, plasma, a sort of hybrid.

Lefteris Karapetsas

Core Developer, Raiden

Raiden is developing from the 2015 and is written mostly on Python. The project is much like the Lightning Network. As noted by the developers, after implementing the new solution, the Ethereum network will be able to provide more than a million transactions per second.