The world’s first 1GB block mined

The world's first 1.0001GB block has been mined on the Bitcoin Unlimited test network
17 October 2017   2378

Bitcoin Unlimited chief scientist, Peter Rizun, reveales that the first 1.0001GB block was mined on a Gigablock testnet. It goes without saying, that the event marks a significant milestone for the big block project backed by the University of British Colombia, Nchain, and the Bitcoin Unlimited development team.

Thus, the current initiative puts scalability to the test by experimenting with much larger blocks to improve blockchain transaction congestion. For instance, both BU and Nchain have been testing larger blocks already in two separate projects: Nchain has been testing 32MB blocks, while BU’s “nolnet” network built by Andrew Stone has experimented with 64MB blocks.      

The development teams believes that increasing the block size limit from 1MB to much larger blocks will significantly reduce high fees and transaction bottleneck. The Gigablock testnet project has very ambitious goals as it aims to create a network that can handle Visa-level transaction throughput (3,000 TPS).

Noteworthy, after testing the Gigablock trial’s findings will be published within the Bitcoin community, the technology may be applied to the Bitcoin Cash network in the future.

Messari to Raise $4M

According to the CEO of the startup more than 60 cryptocurrency projects use company's services
14 November 2019   104

A crypto-industry-specific startup, Messari, has completed a funding round led by Uncork Capital, which also included Blockchain Capital, CoinFund, Danhua Capital, Fenbushi Capital, Coinbase Ventures and former Coinbase technical director Balaji Srinivasan.

Former Managing Director of CoinDesk and CEO of Messari, Ryan Selkis, noted that now more than 60 cryptocurrency projects, as well as “the world's largest exchanges, funds and information service providers” use his company’s services. According to him, the funds raised will be used to automate the processes of receiving and processing data, as well as to expand the product line.

Founded a year ago, the company previously raised $ 1 million in seed investment from Danhua Capital, Blockchain Capital, Anthemis Group and other venture capital firms.

In the third quarter, Messari introduced a regulatory compliance asset monitoring service that also measures the market supply of coins. In addition, the company launched a beta version of the Messari Pro platform, which includes a set of professional tools for market analysis.