UnitedBitcoin: new Bitcoin fork scheduled for December

More and more Bitcoin hard forks are appearing and one of them, UnitedBitcoin, is scheduled to occur on December 12 of 2017
11 December 2017   1004

A lot of people who hold Bitcoin cryptocurrency are waiting for forks to happen to receive new coins for free. The new hard fork under the name UnitedBitcoin is announced to occur on December 12.

unitedBitcoin hard forkUnitedBitcoin hard fork logo

UnitedBitcoins’ s philosophy is to fork Bitcoin and upgrade the resulting network. All active Bitcoin addresses will receive corresponding balances on UnitedBitcoin’s chain. Balances of inactive addresses will be collected and used to serve the community.

UnitedBitcoin is stated to be the upgrade of Bitcoin implementing smart contracts. The features are listed as follows:

  • Proof-of-Work inherited from Bitcoin with brand new high-speed smart contracts
  • Faster transactions through the Lightning network
  • Asset Allocation of active addresses (1 Bitcoin = 1 UnitedBitcoin)
  • No-premining, stable system with fiat currency pegged reserves 
  • Block-size increase to 8 MB and support for SegWit
  • The fork will take place at BTC block height #498777
  • It will be possible to get UnitedBitcoins not only for Bitcoin holders, but also for the holders of one of more than 10 currencies (such as ETH, QTUM, LTC, HSR, etc.)

Blueprint of Bitcoin forks UnitedBitcoinThe blueprint of Bitcoin forks

Bank of America: Cryptocurrencies Are a Threat

Bank of America (BoA) has admitted to US regulators it can not pretend any longer that cryptocurrencies are not a threat
23 February 2018   74

On February 22, the report was filed with the US Securities and Exchange Commission (SEC). It listed a range of economic, geopolitical, and operational risks that the Charlotte, NC-based bank faces as it heads into the new fiscal year. Crypto adoption was on the list for the first time.

Bank of America (BoA), which recently banned purchasing of crypto with credit cards, stated that this and other similar policies could cost the bank clients.

Clients may choose to conduct business with other market participants who engage in business or offer products in areas we deem speculative or risky, such as cryptocurrencies.

The second largest bank in the U.S. said that adoption of cryptocurrencies could require the bank to make “substantial expenditures” to update its existing services and remain competitive with upstart firms.

The widespread adoption of new technologies, including internet services, cryptocurrencies, and payment systems, could require substantial expenditures to modify or adapt our existing products and services.

According to the Bank of America, cryptocurrencies could limit the institution’s ability to comply with anti-money laundering regulations.

Eventually, this is one of the first public admissions that financial institutions are beginning to worry that mass cryptocurrency adoption could one day become a reality.