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   1226

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.

Crypto Investor to File Lawsuit Against AT&T

Michael Terpin believes that AT&T helped scammers to still his $24M worth crypto
16 August 2018   109

In the Los Angeles District Court, a 69-page lawsuit was filed by BitAngels founder Michael Terpin against the American telecom giant AT&T. Terpin claims that the operator assisted fraudsters in "stealing digital personal data" from the account on his smartphone, which is why he lost $ 24 million in cryptocurrency, according to an official release.

According to Terpin, for seven months, there were two hacks. Initially, an attacker got access to his phone number without providing a password or correct identification data. Later, the phone number was used to steal crypto.

AT&T’s studied indifference to protecting its customers’ privacy and financial assets is a metastasizing cancer, threatening hundreds of millions of unsuspecting AT&T’s customers. Our client had no idea when he initially signed up, nor when later he was promised the highest level of security for his account, that low-level retail employees with access to AT&T records, or people posing as them, can be bribed by criminals to override every system that AT&T advertises as unassailable.
 

Pierce O’Donnell
Lead counsel for Terpin in this complaint

Michael Terpin requires AT & T to pay him $ 224 million - $ 200 million for moral damages and $ 24 million for actual theft.