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Third-Party Results of Credits’ Blockchain Speed Test

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Third-Party Speedtest Results of Credits Blockchain

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In the modern world of high-speed development of blockchain technology and transitional changes in the financial sector, it is extremely important to identify the technological capabilities of the platforms for particular business models. Based on such criteria, the IT sector can talk about accelerating indicators, expanding the business, and reducing unnecessary costs. This approach forms a serious transformational potential of blockchain technologies, indicating the prerequisites for a new digital economy and those innovations that will bring post-industrial development to a fundamentally new level.

One such example of measuring the technical performance of blockchain technology is the test that was run by Centr Blockchain Software, a community of blockchain applications enthusiasts. Initially, the team set out to test and find out for themselves what the current status of the technology is. Based on data about one of the fastest blockchain on the market, Centr decided to undertake a study on the technical capabilities of Credits blockchain and performed a speedtest. However, the findings of the speedtest were impressive, and the team decided to share them in public.

Results of Credits Blockchain Speed Test:

  • The highest recorded number of transactions observed a single block: 305,552 transactions with a block speed of 1,400 MS;
  • Average transactions per block: 70,000 – 150,000;
  • Average block speed: 700 MS – 1,300 MS;
  • Total volume of transactions processed: 130,493,210 transactions.

“The Credits blockchain has demonstrated its scalability by running on high-quality hardware and network connection. However, the observed blockchain speed was strong…even higher numbers are easily possible given the limitations of the network’s bandwidth…,” – Centr Blockchain Software summarized.

Building a blockchain that meets the demands of the future is a challenging task for many projects. This is because software must be built in such a way that it can adapt to accelerations in hardware innovations or global infrastructure. The blockchain needs to be scalable, which will allow it to become faster and more adaptive over time. Not every project can achieve such a high TPS indicator, as noted in the Centr report about Credits blockchain.

About Credits

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Credits is a technology company registered in London, UK, and operates globally. It was originally launched in 2017 to build the fastest and most scalable open-source blockchain platform capable of processing up to millions of transactions per second. The main mission of the company is to be the services provider with banking, cryptocurrency, and investment products all in one place.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://zycrypto.com/third-party-results-of-credits-blockchain-speed-test/

Blockchain

Bitcoin Should Be In Every Portfolio, Says Mexico’s Third Richest Man

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The arrival of the death cross does not seem to scare Michael Saylor, who bought $500 million just when this terrifying pattern was forming. But Michael Saylor is not the only one who thinks so. Ricardo Salinas Pliego, the third richest man in Mexico, also believes that Bitcoin is an excellent investment.

During an interview with the director of Blockchain Land, José Rodríguez, Ricardo Salinas Pliego assured that Bitcoin is as solid an investment as gold. He explained that the debate about its nature is not so crucial for those who know its properties.

In my opinion, all the advantages that bitcoin has are enough to make the gold of the modern world … There is no point in discussing whether it is a currency or not.

There Will Be Only 21 Million Bitcoins, And That Is Key to Everything

Ricardo Salinas argues that the fact that Bitcoin is finite, easy to transport, and enjoys extreme liquidity internationally are compelling reasons to consider it as an asset worth taking into account when building an investment portfolio.

In fact, Salinas explains that from his point of view, every investor should own Bitcoin:

Bitcoin is an asset that has international value, which is traded with enormous liquidity worldwide. For that reason, it should be in any portfolio.

Ricardo Salinas is a vocal Bitcoiner. He was one of the first prominent Latin American businessmen to talk about Bitcoin and support it in social networks. He also revealed that 10% of his liquid investment portfolio was held in Bitcoin, which is obviously no small thing considering his fortune.


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But What About Altcoins?

But for now, it seems that Salinas’ relationship with Bitcoin admits no competition. When asked about the potential of Ethereum and other altcoins, Salinas was unconvinced that they can outperform Bitcoin.

Regarding Ethereum, he explained that its weakness lies in its inflationary nature.

The scarcity of Bitcoin, the 21 million, is the key to everything. That is why I mention Ethereum. Because as long as it does not have a finite amount of issuance, I will not believe them because they can issue more, and the asset depreciates.

The issue of the inflationary design of some currencies is of special importance to Ricardo Salinas. Latin American governments have abused the power to artificially issue money, which has damaged the purchasing power of the people in the long run.

Look, I started my professional career in 1981. Back then, the [Mexican] peso was 20 to 1 [dollar]. Today, on the other hand, we are at 20,000 to the dollar. And that’s here, in Mexico, but if we do it in Venezuela, Argentina or Zimbabwe, the figures lose all proportion.

As Bitcoin is a global and finite asset, it is safe from manipulation by any government, group of developers or centralizing power entities.

But there is always a little space for other projects. He said that Monero and Zcash are interesting because of the privacy that they offer.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/bitcoin-should-be-in-every-portfolio-says-mexico-third-richest-man/

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Blockchain

Indian authorities finally capture ‘Crypto King’

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Makarand Pardeep Adivirkar, also known as “Crypto King” — a notorious Indian criminal who trades cryptocoins for drugs — was finally arrested by Indian police.

Indian Narcotics Control Bureau (NCB) arrested Adivirkar for suspicions of buying drugs from the Darknet using Bitcoins. NCB said that Crypto King buys from both Indian and European drug peddlers.

Surprising discovery

According to the results of the investigation, the authorities found 20 LSD blots in Khardoni Village, Malad. The psychotropic substance was discovered to originate from Europe and was purchased using cryptocurrency.

They also found out that his chosen method was to receive cash and send bitcoins on marginal profits using his digital wallet.

NCB is set to conduct further investigation on the case. As of the moment, the bureau has not yet disclosed the specific criminal charges against Adivirkar.

Another crypto criminal

Adivirkar wasn’t the first “crypto criminal” arrested in India. Recently, a man dubbed as “Superman 29”, whose real name is Kais Mohammad, was arrested for illegally processing $25 million worth of bitcoins.

He was later found guilty of money laundering, operating a money transmitting business without a government permit, and other strings of money-related crimes.

Authorities said that he was the head of Herocoin, an illegal currency money service business that offers bitcoin-to-cash services. The business charges 25%, which is very high compared to the usual rate in the market.

Undercover agents foiled his illegal business by posing as clients who pretended to run businesses related to human trafficking, the dark web, and prostitution.

Fortunately, authorities outlawed Mohammad’s operations, and as a punishment, the “Superman” will have to spend two years behind bars.

Image courtesy of Cointelegraph News/YouTube

Source: https://bitcoinerx.com/blockchain/indian-authorities-finally-capture-crypto-king/

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Blockchain

Ukraine Parliament modifies virtual assets bill to regulate cryptocurrencies 

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The updated draft law included measures such as ownership disclosure, making KYC procedures mandatory, and the need to obtain government authorization. 

The Digital Transformation Committee of the parliament recommended the adoption of the updated version, which they released just this week. 

Stricter measures

The draft law provided specific definitions of virtual assets, which include “intangible good”, an object of civil circulation, something that can “certify property to non-property rights” and “rights to claim other objects of civil rights.” 

One of the major regulations that the bill suggests revolves around cryptocurrency platforms and exchanges. 

According to the bill, crypto-related companies would be required by law to obtain approval from the Ministry of Digital Transformation. 

They are also required to present their ownership structure and show their financial transactions, which would drastically decrease the possibility of illegal actions. 

Criticisms on the draft

Representatives from the National Securities and Stock Market Commission (NSSMC) and the National Bank of Ukraine (NBU) criticized the modifications on the bill.

According to them, more changes are needed because the current bill is still filled with many loopholes and errors that would certainly cause serious problems. 

They also added that the bill didn’t clearly define the specific roles of regulators and the mechanism for coordinating market activities is not clear. 

Another criticism that the bill received is that it is not in line with international standards and lacks clear protection for investors against illegal activities. 

The MDT, which proposed the modified bill, assured officials that the contents of the bill serve the best interest of the country. 

Image courtesy of Cointelegraph News/YouTube

Source: https://bitcoinerx.com/bitcoin/ukraine-parliament-modifies-virtual-assets-bill-to-regulate-cryptocurrencies/

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