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Can anyone learn Bitcoin’s code? Let’s analyze

An unknown person or a group of people known by the pseudonym Satoshi Nakamoto published a white paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System.” This decentralized and open-source program is the financial bitcoin revolution that today is known as bitcoin. In the article, we analyze how someone can access bitcoin’s code. The first time […]

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An unknown person or a group of people known by the pseudonym Satoshi Nakamoto published a white paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System.” This decentralized and open-source program is the financial bitcoin revolution that today is known as bitcoin. In the article, we analyze how someone can access bitcoin’s code.

The first time the term “cryptocurrency” was used by the cypherpunk Wei Dai on the cypherpunks mailing list, where a suggested the idea of a new form of money that uses cryptography to control its creation and transaction, instead of a central authority. That was the only definition of what is crypto till then. Bitcoin was the first implementation of that proposed concept.  

Any developer can review the bitcoin code

Bitcoin software is open-source software, and any developer around the world can review the code or make their own modified version of the Bitcoin software. Satoshi Nakamoto quit the bitcoin developers team in late 2010, without ever revealing his true identity. Since then, the community has grown exponentially, and many developers from around the world are working on bitcoin. 

Who controls the Bitcoin Network?

Bitcoin is truly decentralized, and no one owns the Bitcoin network. Bitcoin users around the world control the bitcoin, and any changes are made with the consensus of all the users. The network can only work correctly with the consensus of all users. Therefore, all users and developers have a strong incentive to protect this consensus, but anyone can access the bitcoins code platform.

How to access bitcoin source code?

The Bitcoin source code can be hosted on anything ranging from a raspberry pi to AWS. You can also read the bitcoin source code on Github without any hassle. From a user’s perspective, bitcoin works like any other mobile app or a computer program that provides a personal bitcoin wallet and allows users to send and receive bitcoins among them. But behind the scenes, the technology that allows bitcoin to be decentralized is known as the blockchain. 

Note:  Bitcoin’s reference implementation is mostly written in C++, but there are other clients written in different languages, including Python and Java. 

How to become a bitcoin developer?

If you want to become a bitcoin developer, the first thing that you need to do is read the 9 page Bitcoin whitepaper published by Satoshi Nakamoto. If you want to become a bitcoin developer, then it is important to learn how blockchain works. The other main aspect of the bitcoin network is the process of mining. Mining is a process of producing new coins and adding them to the bitcoin network. Mining works on the proof-of-work principle. 

Note: The original Bitcoin Core was coded by Satoshi Nakamoto using C++. 

Conclusion

Bitcoin is an open-source and decentralized, which means that anyone can access the entire source code at any time, and anyone can trade it. All bitcoin transactions and issued coins into existence can be transparently consulted in real-time by anyone. Bitcoin source can be reviewed on Github by anyone and learn them to develop the network with the consent of all the users. 

Source: https://chaintimes.com/can-anyone-learn-bitcoins-code-lets-analyze/

Blockchain

BTG Pactual becomes first bank in Brazil to participate directly in the crypto market

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Financial institutions have been increasingly keen on being part of the booming $2 trillion cryptocurrency market, with over 13 of the world’s largest banks pushing roughly $3 billion in funding so far, into cryptocurrency. The latest major news came from Brazil.

One of the leading Brazilian investment banks BTG Pactual has been trending within the crypto community. It launched a new platform enabling customers to make direct investments in cryptocurrencies. Ergo, making it the first major financial institution in Brazil to participate directly in the crypto market.

According to local news outlet, The Rio Times,

“…the launch of Mynt, a platform that allows BTG Pactual Digital and BTG+ clients to trade directly, cryptocurrencies such as bitcoin and ether.”

Andre Porthilo, BTG Pactual’s head of digital assets, stated,

“At this first moment, we will have the two main assets of the market, but we will include other cryptos for trading over time. We will have a complete platform with blockchain-based assets.”

One thing that remained in common with different banks incorporating these tokens is the fact that they have been responding to “demand from our customers who wish to trade crypto.” This news is no different.

Plans

BTG Pactual CEO, Roberto Sallouti laid out his plan of action with this development. He opined, “As a new asset class, we will also have content to educate and inform our customers about these assets and the technology.”

Needless to say, Brazil has witnessed an immense amount of crypto traction. That said, regulators too have taken steps to curb illicit activities. As asserted by the CEO, the said bank will be regulated by both the Brazilian Securities Commission and the local central bank. Moreover,

“With the support of BTG Pactual, Mynt has fundamental differentials in security and credibility…”

Past

The said bank had previously incorporated digital assets in previous operations as well. In 2019, it launched its real estate-backed security token ReitBZ. This step was executed post-examining digital assets for a couple of years. Just recently, the bank announced collaboration with Gemini, the U.S.-based crypto exchange. Gemini provided custody services to the first Bitcoin fund issued by a Brazilian investment bank.

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Source: https://ambcrypto.com/btgpactual-becomes-first-bank-in-brazil-to-participate-directly-in-the-crypto-market

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Basel Committee Crypto Rules Face Backlash

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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

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Source: https://cryptobriefing.com/basel-committee-crypto-rules-face-backlash/?utm_source=main_feed&utm_medium=rss

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Ethereum NFT Game Sorare Fantasy Soccer Raised $680 Million

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Ethereum NFT game Sorare fantasy soccer just raised $680 million and it is now valued at $4.3 billion while launching a US office so let’s read more today in our latest Ethereum news.

The Ethereum NFT game Sorare fantasy soccer raised $680 million and the french startup now plans to expand into other sports as well as to onboard women’s soccer teams and US office. Sorare is an Ethereum-based fantasy soccer game based on NFT trading cards and grew dramatically in 2021 with a rising base and huge trading volume not to mention the new licensed teams in the mix. Today, however, the startup is using the momentum with the announcement of a new funding round.

NFT Game Founder, scammer, eth, cryptopunks

The $680 million Series B round values the company at $4.3 billion after a $50 million Series A round which was announced back in February and the new series was led by Japanese tech and investment conglomerate SoftBank that has a number of crypto industry dealings through SBI holdings financial services division. Sorare is focused on soccer with players from more than 175 licensed clubs like FC Barcelona, Juventus FC, and Paris Saint Germain FC as some of the most popular. Nicolas Julia, the co-founder and CEO of Sorare said that this week the company plans to expand into other sports and it will open a US-based office in the upcoming months to help “continue to grow with fans and sports leagues.” He continued:

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“We have ambitious plans to keep growing Sorare into a sports entertainment giant. The new funding will be used to help us continue to grow a world-class team, expand to new leagues and new sports, and keep improving our experience for users, including shipping a mobile app.”

nba top shot

Dapper Labs’ NBA Top Shot is similar to Sorare, built around NFTs and based on professional athletes. An NFT acts like a deed of ownership to a scarce digital item so in the case of Sorare, it’s a digital trading card that can be purchased and resold with each available in limited quantity. One NFT card can even reach $290,000. Unlike Top Shot, however, Sorare has an ongoing game component and is similar to other fantasy sports in that you can choose your top players each week as well as the leagues with other users. Sorare also has close ties with Ubisoft as it took the accelerator program this year.

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Source: https://www.dcforecasts.com/ethereum-news/ethereum-nft-game-sorare-fantasy-soccer-raised-680-million/

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