Could a blockchain-based electricity network change the energy market?

Could a #blockchain-based electricity network change the energy market?

  • The intense data processing required by blockchain pulls in an extraordinary amount of electricity, and widespread use of it would drag global energy markets into the abyss – and bring the world’s carbon emissions budget down with it.
  • They range from the big, such as the 10 major utility companies joining the Energy Web Foundation’s efforts to identify and roll out blockchain energy solutions, to the small, such as US startup LO3 Energy’s launch of a blockchain-enabled green energy microgrid in Brooklyn later this year.
  • Similar to LO3 Energy’s offering is that of Australian company Power Ledger, which has developed a peer-to-peer energy trading model that works around utilities companies using blockchain in much the same way that bitcoin traders dance past the banks.
  • By making rooftop solar even more economical and maximising use of the power it generates, Martin hopes blockchain-enabled peer-to-peer energy trading will help lower carbon emissions while raising energy capacity.
  • In Australia, Power Ledger also predicts legislative changes will be needed to pave the way for blockchain, or any kind of peer-to-peer energy trading for that matter.

Blockchain-enabled energy trading could help lower carbon emissions but efficiency and privacy issues must first be overcome
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Bitcoin soars as miners finally move to solve the digital currency’s scaling problem

  • Bitcoin miners are signaling their intent to support a new upgrade for the bitcoin blockchain that may solve the digital currency’s long-running scaling issue.
  • Several of the largest bitcoin miners (who create new bitcoins and support the blockchain), including AntPool, BitClub, Bixin, BTC.com and BitFury, have started showing their support for bitcoin improvement proposal (BIP) 91, by adding a piece of code to each new block of bitcoins they generate.
  • The miners were not expected to start coding their support for BIP 91 until July 21.
  • Already, 66 percent of the last 144 blocks created signal support for it.
  • The proposal needs 80 percent support to be “locked in” to the blockchain permanently.

Bitcoin miners are signalling their intent to support a new upgrade for the bitcoin blockchain that may solve the digital currency’s scaling issue.
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Initial coin offerings: Tech’s next bubble?

#InitialCoinOfferings: Tech's next bubble? 

 #fintech @jamestitcomb #ICO #ethereum #VC

  • The S&P 500 technology index, a gauge of the leading US internet stocks, passed the record that had stood since March 2000.
  • Seventeen years after the bubble burst, technology investors feel much of the promise of the internet that led to such outlandish valuations has finally been realised, albeit much later than they had thought.
  • But at the same time, many fear that a new bubble is forming, involving another technology that has huge potential but may also be dramatically overhyped: the blockchain.
  • Listen to one of its advocates and you will hear that the blockchain could be the most significant invention since that of the internet itself.
  • It is best known as the technology that underpins the virtual currency Bitcoin, but its disciples believe its potential is far greater, and represents…

Last week, one of the final demons of the dotcom crash at the start of the 21st century was finally exorcised.
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Bitcoin soars as miners finally move to solve the digital currency’s scaling problem

#bitcoin soars as miners finally move to solve the digital currencys scaling problem #BIP91

  • Bitcoin (Exchange: BTC=-USS) miners are signaling their intent to support a new upgrade for the bitcoin blockchain that may solve the digital currency’s long-running scaling issue.
  • Several of the largest bitcoin miners (who create new bitcoins and support the blockchain), including AntPool, BitClub, Bixin, BTC.com and BitFury, have started showing their support for bitcoin improvement proposal (BIP) 91, by adding a piece of code to each new block of bitcoins they generate.
  • “The prospect of a contentious August fork has been hanging over bitcoin’s price like a sword of Damocles, and so the 20 percent plus price pop we’ve seen in the last 24 hours is not surprising.”
  • One solution is a system called Segregated Witness (SegWit) which would increase the speed of transactions, but it required 95 percent support from miners and the community to be added to the blockchain and there has been resistance.
  • This would involve a “user-activated soft fork”, where bitcoin users would force the blockchain to split by rejecting any block of bitcoins that did not signal support for SegWit.

Bitcoin miners are signalling their intent to support a new upgrade for the bitcoin blockchain that may solve the digital currency’s scaling issue.
Continue reading “Bitcoin soars as miners finally move to solve the digital currency’s scaling problem”

Bitcoin soars as miners finally move to solve the digital currency’s scaling problem

  • Bitcoin miners are signalling their intent to support a new upgrade for the bitcoin blockchain that may solve the digital currency’s long-running scaling issue.
  • Several of the largest bitcoin miners (who create new bitcoins and support the blockchain), including AntPool, BitClub, Bixin, BTC.com and BitFury, have started showing their support for bitcoin improvement proposal (BIP) 91, by adding a piece of code to each new block of bitcoins they generate.
  • The miners were not expected to start coding their support for BIP 91 until July 21.
  • Already, 66 percent of the last 144 blocks created signal support for it.
  • The proposal needs 80 percent support to be “locked in” to the blockchain permanently.

Bitcoin miners are signalling their intent to support a new upgrade for the bitcoin blockchain that may solve the digital currency’s scaling issue.
Continue reading “Bitcoin soars as miners finally move to solve the digital currency’s scaling problem”

Bitcoin soars as miners finally move to solve the digital currency’s scaling problem

  • Bitcoin miners are signalling their intent to support a new upgrade for the bitcoin blockchain that may solve the digital currency’s long-running scaling issue.
  • Several of the largest bitcoin miners (who create new bitcoins and support the blockchain), including AntPool, BitClub, Bixin, BTC.com and BitFury, have started showing their support for bitcoin improvement proposal (BIP) 91, by adding a piece of code to each new block of bitcoins they generate.
  • The miners were not expected to start coding their support for BIP 91 until July 21.
  • Already, 66 percent of the last 144 blocks created signal support for it.
  • The proposal needs 80 percent support to be “locked in” to the blockchain permanently.

Bitcoin miners are signalling their intent to support a new upgrade for the bitcoin blockchain that may solve the digital currency’s scaling issue.
Continue reading “Bitcoin soars as miners finally move to solve the digital currency’s scaling problem”