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From the point of view of the creator of Ethereum Vitalik Buterin on the future of Bitcoin to a new partnership in Ripple, here are some of the stories that are interrupted in the world of Crypto.
Bitcoin and Ethereum
In a new interview with the Blockchain Insider podcast, the creator of Ethereum Vitalik Buterin weighs on the future of Bitcoin and Ethereum. According to Buterin, Bitcoin's Proof of Work system is fundamentally flawed compared to Proof of Stake, in part due to the amount of energy needed to verify transactions.
"These two mechanisms are similar because they both use economic resources to maintain that level of participation that can be had in the network, and this is something that is necessary because if you do not have that kind of economic gatekeeping, then a participant can simply pretend to be a billion false participants and then take over the entire network, and proof of Work does it. The pole test does it that, in our opinion, better for a couple of reasons.
One of these is that with Proof of Work, in order to demonstrate that you actually have this computing power, you basically have to turn these computers on and have them solve the mathematical puzzles 24/7. And this leads to huge amounts of energy consumption. I think Bitcoin is at the point of overcoming probably most of the countries in the world & # 39 ;. And Ethereum is definitely not nearly there, but it's still much higher than I would like.
And Proof of Stake is much more efficient because, instead of proving you have computers around the clock, to prove you have coins, you simply have to sign a digital signature with the same cryptographic key that those coins have. And so the network can work with much lower energy consumption than the point where the main thing you're wasting is just having these 10,000 nodes that all need to verify every transaction, which is much less. "
On Twitter, Buterin also questioned how Bitcoin will continue to thrive in a sea of similar cryptocurrencies.
In a sea of coins based on cryptography with elliptic curves, how does Bitcoin plan to project?
– Vitalik non-donor of ether (@VitalikButerin) December 13, 2018
Ripple and XRP
The largest Israeli financial services company GMT claims to work with Ripple to use the company's suite of software solutions for cross-border payments.
"GMT is joining companies like MoneyGram, AmericanExpress, CIBC, Earthport, AKBANK and many others, which are already authorized to use the Ripple platform.This partnership is establishing GMT's place at the forefront of Fintech's Israeli industry , also allowing us to work side by side with some of the world's leading companies. "
No word on exactly whether GMT will use xCurrent or xRapid, which uses XRP to power international payments in real time.
Meanwhile, the Hong Kong encrypted exchange platform and CoinCola over-the-counter matching platform have just announced OTC support for XRP.
Insertion of the seventh coin #CoinCola OTC platform! #CryptoUpdates #CryptoNews #Cryptocurrency $ XRP pic.twitter.com/Nq6j2dNlRr
– CoinCola (@CoinCola_Global) 11 December 2018
Tron
From games to crypto exchanges and growing transaction volumes, Tron is seeing a lot of activity on his network. Here is the latest update of the DApp development platform.
litecoin
More than 1,000 dealers will soon be able to accept Litecoin using the Lightning network.
CoinGate, the first payment processor to integrate Bitcoin lightning payments, says it will announce on Twitter when Litecoin is live.
@litecoin community, we bring some interesting news! Our #Litecoin #LightningNetwork it's ready to be deployed and will soon be available on CoinGate! Keep up to date with the news as we approach! Here is a small preview @LTCFoundation @SatoshiLite @starkness! pic.twitter.com/QahcnFlYc5
– CoinGate (@CoinGatecom) December 13, 2018
IOTA
A new post on LinkedIn is revealing an apparent collaboration between the automaker Audi and IOTA.
Malte Schonfend, head of venture development at Audi Berlin, says the two have worked together on a project over the last five months.
The post states that the collaboration has "pushed a new case of use to reality", but there are no further details on the developments.
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