The South Korean multinational conglomerate company, Samsung had started manufacturing of ASIC hardware. It is developed to gear cryptocurrency mining.
Christine Lagarde, MD of the International Monetary Fund (IMF) said that the bitcoin mining consumes more electricity. She emphasized that they would consume electricity as much as Argentina tapping energy for enormous bitcoin mining.
Nayuta CEO Kenichi Kurimoto coined, “The Lightning Network is the only solution for real-time transactions.” He observed it as the solution to ‘Internet of Thing’s desire for payments’ that happen instantaneously.
The World Wide Fund for Nature (WWF) had begun to adopt blockchain technology for evading illegal fishing. The transparency ensured by the distributed ledger will prohibit the users from indulging in illegal activities.
The two blockchain startups based in San Francisco, Bee Token and WeTrust are to establish a ‘decentralized insurance layer based on crowdsourced security deposits’ jointly. BEE Token had effected in $10 million presales and the public sale is set to commence.
The National Institute of Standards and Technology (NIST) had exposed a synopsis of the blockchain technology that will aid the beginners. It emphasized on the features of blockchain technology, its limits and errors.
The Ondiflo, a joint venture of Amalto SA, a data management company and ConsenSys, Blockchain Company revealed about its plan to develop an Ethereum platform for ‘automation of ticket-based processes in the oil and gas industry. The co-founder of Swiss-based Ethereum, Joe Lubin, “At ConsenSys, we are dedicated to building the Ethereum ecosystem and committed to supporting new use cases across all industries.”
The co-founder and Managing Partner of Multicoin Capital, Kyle Samani elaborated about the two types of ‘blockchain interoperability.’ He quoted, “Relaying messages about the state of one chain to another and Cross-chain atomic swaps.” He coined about projects such as Polkadot and Cosmos that is expected to emerge as ‘the meta blockchain of blockchains.’ He also concluded that systems like Cosmos would resolve basic cross-chain communication challenges.
The Guardtime and Metaco have associated and presented a ‘new cryptocurrency asset management product.’ The ‘SILO’ had been pitched for easy storage of digital assets. The CEO of Metaco, a blockchain startup said, “SILO, built exclusively for financial firms, solves this problem and allows individuals to trade cryptocurrencies with true peace of mind while extending the role of banks as custodians into the future.”
CapLinked, a software company, had made an announcement about TransitNet. TransitNet is proposed to operate as an open and unified blockchain framework aimed at securing the digital assets and maintaining the database of transactions. The decentralized application of TransitNet will help the users to enable security and trace their virtual assets that are transferred to third parties.