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MultiChain 2.0 beta released

Empowering a broad new range of blockchain applications Today we’re delighted to release the first beta version of MultiChain 2.0, the next generation of the MultiChain blockchain platform, after 16 months in development. MultiChain 2.0 (download) includes three major new areas of functionality to help developers rapidly build powerful blockchain applications: Smart Filters. These allow… Read more »

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Empowering a broad new range of blockchain applications

Today we’re delighted to release the first beta version of MultiChain 2.0, the next generation of the MultiChain blockchain platform, after 16 months in development. MultiChain 2.0 (download) includes three major new areas of functionality to help developers rapidly build powerful blockchain applications:

  • Smart Filters. These allow custom rules to be coded for validating transactions or data. Smart Filters are written in JavaScript and run within a deterministic version of the high-performance V8 engine that powers Google Chrome. Click for more on Smart Filters or a comparison with Fabric, Ethereum and Corda.
  • Off-chain data. Any item published in a MultiChain stream can optionally be stored off-chain, in order to save bandwidth and storage space. Off-chain data (up to 1 GB per item) is automatically hashed into the blockchain, with the data itself delivered rapidly over the peer-to-peer network. Click for more about off-chain data.
  • Richer data streams. JSON and Unicode text are now supported natively and stored efficiently on- or off-chain. Multiple JSON items can be merged together, allowing a stream to serve as a database with a full audit history. Stream items can have multiple keys, and be queried by multiple keys and/or publishers together. Finally, to increase data throughput, a single transaction can publish multiple items to one or more streams.

In addition, MultiChain 2.0 provides several other smaller new features:

  • Blockchain upgrading. Many blockchain parameters can be changed over time, subject to administrator consensus. These include the block time interval, maximum block size, and many transaction size limits.
  • Per-asset permissions. Assets can optionally be issued with their own send and receive permissions, which can be controlled for each address by that asset’s issuer and/or its assigned administrators.
  • Binary cache. Large pieces of binary data (up to 1 GB) can be added to MultiChain over multiple API calls, or uploaded directly via the file system.
  • Inline metadata. Transaction outputs containing assets and/or native currency can now contain metadata in JSON, text or binary format. Smart Filters can easily read and respond to this metadata.
  • Custom permissions. Six new permissions (three “high” and three “low”) can be assigned to addresses by two levels of administrator. These are useful for defining roles enforced by Smart Filters.

We’re also delighted to welcome over 40 new companies to the MultiChain partner program, bringing the total number to 86. New members include SAP who have built a deep integration with MultiChain in the SAP Cloud Platform.

MultiChain 2.0 beta 1 can be downloaded here. It is backwards compatible with version 1.0 with a few exceptions – see the API compatibility note. MultiChain 1.0 nodes and networks can be upgraded to version 2.0 in the usual way (be sure to back up first). We’ll also continue to maintain and fix any bugs in MultiChain 1.0 through 2019 at least.

Below is the full official press release about the 2.0 beta release.


MultiChain Releases Beta Version 2.0 with Over Forty New Partners

December 19, 2018 – Coin Sciences Ltd is delighted to announce the first beta release of MultiChain 2.0, along with the addition of 43 new members of the MultiChain Partner Program, bringing the total number to 86.

MultiChain 2.0 beta 1 has been released after sixteen months of intensive development including seven alpha versions, and is available for Linux and Windows at: https://www.multichain.com/download-install/. Enhancements over MultiChain 1.0 include richer data publishing with support for JSON and Unicode text, blockchain parameter upgrading, seamless integration of off-chain data storage and delivery, and Smart Filters, MultiChain’s approach to the smart contract paradigm.

MultiChain Smart Filters allow application developers to embed custom rules for transaction and data validation within the blockchain, using the popular JavaScript programming language. Filters are run within a deterministic version of V8, the highly optimized runtime engine used by Google Chrome and Node.js. For more information on MultiChain Smart Filters and how they compare to smart contracts in Hyperledger Fabric, Ethereum and R3 Corda, see: https://www.multichain.com/blog/2018/12/smart-contract-showdown/

The new members of the MultiChain Partner Program include SAP, who have integrated MultiChain into the SAP Cloud Platform and are deploying it for client projects. HCL Technologies, the multinational consulting company, also recently joined, along with 41 other blockchain and software companies. Members of the partner program have access to the MultiChain engineering team, can use MultiChain branding in their marketing materials, and are promoted on the MultiChain website. A full list of MultiChain’s partners can be found at: https://www.multichain.com/platform-partners/

“At SAP we are extending business solutions with MultiChain blockchain functionality via our SAP Cloud Platform offering.” said Torsten Zube, SAP’s Head of Blockchain. Furthermore, “We strategically decided that MultiChain should be part of our offering due to its proven, easy and mature distributed ledger technology addressing enterprise needs. The upcoming MultiChain 2.0 release will provide more functionality such as Smart Filters and off-chain data that we see as particularly relevant for enterprise scenarios going forward.”

“Version 2.0 represents a huge upgrade for MultiChain, integrating several major features commonly requested by our developer community,” said Dr Gideon Greenspan, CEO and Founder of Coin Sciences Ltd. “With version 1.0 in stable production since August 2017, our goal with MultiChain 2.0 remains the same: to provide a powerful, stable and easy-to-use platform for blockchain application developers. We look forward to continued cooperation with our partners to bring MultiChain-driven applications to enterprises, governments and beyond.”

 

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Source: https://www.multichain.com/blog/2018/12/multichain-2-0-beta-released/

Blockchain

Indian government cautious about crypto-adoption, CBDC is a possibility

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Indian traders and exchanges might be bullish about the crypto market, but the Indian  government doesn’t seem keen on rushing into the scene. At least, not until studying its homegrown fintech industry and the anti-Bitcoin protests in El Salvador.

Tracking global news

Indian finance minister Nirmala Sitharaman in a recent interview with Hindustan Times explained why the country seemed to be falling behind when it came to crypto adoption.

Though she admitted, El Salvador wasn’t “the best example,” Sitharaman said,

“You’d think common people don’t care about digital currency; but the public took to the streets against the move. It’s not a question of literacy or understanding – it’s also a question of to what extent this is a transparent currency; is it going to be a currency available for everyone?”

Sitharaman referred to CBDCs as a “legitimate” cryptocurrency and admitted there could be a “possibility,” in hat regard. She noted that India held the “strength of the technology” and acknowledged the need to formulate a Cabinet note. However, Sitharaman wondered if India was ready to follow El Salvador’s way.

Facts on the ground

Though accessibility is a pressing concern, more Indians have discovered crypto than perhaps expected.

Nischal Shetty, CEO of the Indian crypto exchange WazirX – a subsidiary of Binance Holdings – has stated that WazirX sign-ups from India’s tier-two and tier-three cities overtook those from tier-one cities this year. Even so, sign-ups from tier-one cities themselves saw a 2,375% rise. Furthermore, WazirX added one million users in April 2021 alone.

Adding to this, the cost of electricity and Internet data in India are relatively cheaper, which could boost both crypto trading and mining in the future. However, at the last count, there was only one Bitcoin ATM in the whole country.

As per data by Useful Tulips, which combined data from Paxful and LocalBitcoins, India saw transfers worth around $4,502,369 in the last two weeks.

Could anti-Bitcoin protests happen in India?

There is evidence to support both sides. India has a strong history of mass protests, with the farmers’ protests against the government’s agricultural laws being one such example. The 2016 demonetization of part of the country’s paper currency still haunts many, and Internet penetration is yet to cross 50%.

However, India also has the largest diaspora in the world, with approximately 18 million people living outside the country. Crypto innovation could lead to hundreds of millions of dollars being saved on remittance charges as money is sent across borders.

But for the time being, it seems India’s urban residents are more bullish about crypto than its government.

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Source: https://ambcrypto.com/indian-government-cautious-about-crypto-adoption-cbdc-is-a-possibility

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A Deep Dive Into The Bitcoin Wallets Of U.S Congress Members, And Why Bitcoiners Are Strongly Against Them

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A Deep Dive Into The Bitcoin Wallets Of U.S Congress Members, And Why Bitcoiners Are Strongly Against Them

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Key takeaways

  • U.S. Congress’ split disposition towards cryptocurrencies raises concerns among market participants.
  • Bitcoin proponent, James Loop goes digging into the financial disclosures of Congress members.
  • His findings revealed only three Congress members have ever disclosed that they hold Bitcoin.

The United States is a key base for innovation and adoption in the cryptocurrency industry. According to data from Crunchbase, there are at least 1,135 organizations founded in the U.S. that provide various cryptocurrency-related services.

Despite the broad adoption of the asset class by the country’s citizens, the government is still divided on opinions about the growing cryptocurrency industry. This can be seen in the U.S. Congress where members of Congress are split between those who support and those who do not support Bitcoin, the most prominent cryptocurrency.

This polarised disposition of Congress has been a pain point for Bitcoiners. Bitcoin market participants have pointed out several issues that emanate from the fact that there are still members of Congress who have not shown themselves to fully understand Bitcoin.

The sentiment is that Congress members who do not fully understand the asset, having not used it, should not be responsible for making laws about it. Additionally, market participants also think it will be a conflict of interest if members of Congress who oppose Bitcoin are found to be holding Bitcoin or if those who support it do not own any. 

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Jameson Lopp, the co-founder, and chief technology officer of Casa – a leading provider of Bitcoin self custody solutions, has gone digging into the United States Senate Financial Disclosures portal. The investigation was carried out to identify Congress members who have declared holdings of cryptocurrencies, and Bitcoin in particular, in their portfolios. 

His findings paint a dismal picture as the majority of the members of Congress who have been vocal in supporting Bitcoin have not held the asset at all according to their financial disclosures for the year ending 2020.

According to his findings, only 3 Congress members have disclosed that they own Bitcoin. The now-retired Representative Bob Goodlatte of Virginia was the first Congressman to disclose the ownership of Bitcoin, doing so in 2017 even before laws were passed to make disclosure mandatory. According to his disclosure, he owned between $1,000 and $15,000 of Bitcoin at the time.

Among currently seated Congress members, only Senators Cynthia Lummis and Pat Toomey have reported Bitcoin holdings in their portfolios in 2020. Senator  Lummis reported owning $100,000 – $250,000 of bitcoin in 2020 making up between 0.6% and 2.75% of her net worth. Similarly, Senator Pat Toomey reported purchasing $1,001 – $15,000 of GBTC in June 2021. The GBTC investment is between 0.01% and 0.7% of his net worth.

The sleuth however concedes that he did not have the time and resources to go through the financial disclosures of all 535 congressional members. Nonetheless, it is telling that of the ones he checked, even members of caucuses in Congress that are affiliated to cryptocurrency and members that have drafted bills that will provide clarity for the industry do not hold Bitcoin or other cryptocurrencies as their financial disclosures show.

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Source: https://zycrypto.com/a-deep-dive-into-the-bitcoin-wallets-of-u-s-congress-members-and-why-bitcoiners-are-strongly-against-them/

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China Again? — Why The Crypto Market Lost Over $300 Billion In Hours And What To Expect

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China Reemphasizes It's Not Yet Done With Clamping Down On Bitcoin

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Key takeaways:

  • Crypto-market records over s$1 billion worth of Crypto liquidations in hours. 
  • Liquidated long positions significantly surpass shorts.
  • Fundamental factors pose serious threat to the market, but the road to recovery is near.

The crypto market has been hit with yet another massive liquidation. Within the last 24hrs, a whopping $1.03 billion worth of long and short positions have been liquidated, as reported by the aggregate derivative exchange platform ByBt.

When traders are long on a particular asset, they are simply gaining exposure to the cryptocurrency in question, in hopes that prices will surge significantly at a later time. It appears that a lot of investors were bullish on crypto for the most part, as long positions were significantly higher than shorts. Precisely $946.10 million worth of crypto was liquidated, while $6.56 million short positions were liquidated.

Liquidations usually take place in the crypto market when a trader’s leveraged position is forcefully sealed by an exchange when the trader’s initial margin is partially or totally lost. Futures and margin trading is usually where liquidation is common.

Many market pundits have warned against over-leverage, which they point to as the case of repeated liquidation. However, despite cryptocurrencies being high-risk due to the intense volatility, leveraging provides an opportunity for investors to generate significant profit. For this reason, liquidations are imminent.

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On a larger spectrum, the question at hand is how the market will be affected going forward. Although no one can accurately predict, recent events hint that the dip could go even deeper, no thanks to fundamental factors like the ongoing Evergrande crisis.

“The Hong Kong stock market plummeted, triggering a decline in global markets and cryptocurrencies. The main reason is Evergrande, China’s largest real estate company with nearly 2 trillion debts.” wrote Chinese journalist Colin Wu.

Thus far, leading assets like Bitcoin, Ether, Solana, Cardano, and many others have dropped in price value and are, at this time, still going downwards. Bitcoin has plummeted to $42,928. While losing more than 7% in value today. Ether, XRP, SOL, DOGE, and Cardano are likewise seeing an extensive decline.

In response to the dip, analysts have responded to their previous sentiments on Bitcoin especially, saying that the expected floor price for this month remains at $42,000 and that a bounce will follow a while later. Altcoin analysts are also keeping their fingers crossed to see how the next 24hrs play out before predicting the market’s trajectory.

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Source: https://zycrypto.com/china-again-why-the-crypto-market-lost-over-300-billion-in-hours-and-what-to-expect/

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