The Proposal of Establishing the Bitcoin Cash Standard Organization 7227

On August 31 the CEO of the firm Viabtc, Haipo Yang, published a blog post proposing the establishment of a standardization organization like the World Wide Web’s W3C consortium. Haipo Yang wants to start a similar group called the Bitcoin Cash Standard Organization (BCSO) in order to create standards and achieve better transparency when it comes to BCH consensus proposals.

Haipo Yang: In the Statement, “Bitcoin” always stands for Bitcoin Cash

As a consensus protocol, Bitcoin has been defined by its softwares since its birth in 2009. Though we have a Bitcoin white paper, the white paper doesn’t give any definition of the details of consensus protocols, e.g., block size, time, difficulty adjustment rules etc. This leads to big differences in regard of “What is Bitcoin” and is not good for implementation of multiple clients and the competition between them. Clients with major market share have too much say in changes of protocols. For example, in the debate of Bitcoin scaling, Bitcoin Core team led to the split of Bitcoin community, doing huge harm to Bitcoin development. I believe that Bitcoin needs to separate protocols from implementations because this will help improve participation of more developers, and market diversity with multiple clients running, which also introduces effective competition. I don’t think that the Bitcoin protocol should be tied to any specific client, and rather, developers should focus on building faster, more stable and user-friendly software implementations compatible with standard protocols, instead of modifications of protocols. And I believe that the Bitcoin protocol should keep evolving to meet the demands of scaling and the market. By standardizing Bitcoin, we can give a clear definition of Bitcoin and therefore solve community disparity.

We can find many examples of standardization in the development of the internet. There are standardization organizations like W3C in the development of the World Wide Web, who sets standards to improve cross-industry compatibility and protocols. Browser companies competed to win market share with better browser products and push forward growth of the Web with protocol improvement by W3C. Email protocols are the oldest and most influential protocols in the internet history. Bitcoin’s consensus protocol is similar to email protocols — it’s impossible to send emails if the client is incompatible with the protocol. Email protocols are now defined by a series of RFC files. It’s hard to imagine if the protocols are defined by one client with which the diversified clients and applications today won’t be possible. Another example is the development of computing languages. C language was born in the 1970s, and was so influential that almost all operating systems now are using C. In the early stage, grammars of different compilers were not completely compatible. In the 1980s, the National Institute of Standards and Technology of the US standardized C language with “ANSI C”, putting an end to the chaos. Now the C language is defined by standardized documents instead of any certain compiler.

Bitcoin is a consensus protocol which should be defined by documentation instead of software codes. The consensus protocol includes block format, block size, transaction format, opcode, difficulty adjustment algorithm, transaction ranking rules etc. It does not include P2P protocol or RPC command. Any client that compatible with the consensus protocol can come to the same the results by resolving the blockchain. Client protocols should avoid undefined operations to lower down forking possibilities. We should be extremely careful when it comes to any protocol modification because any modification will require consensus of all clients, otherwise, a fork will happen.

Together we will standardize Bitcoin by establishing the Bitcoin Cash Standard Organization (BCSO). BCSO will give the definition of “Bitcoin” with standard protocol documentation. With the BCIP (Bitcoin Cash Improvement Proposal), BCSO will collect advices and suggestions of protocol standard as well as feedbacks for BCIP from the community. BCSO will regularly release the BCIP with updated standard documentation and help all clients with the updates. BCSO will also hold developer conferences to explore new Bitcoin technologies and growth.

With BCSO, the modification process of Bitcoin consensus will be more public and transparent. While proposing a BCIP, a developer should include essays, reference implementation, test results etc. so that the public and peers could have a more profound understanding of the change. BSCO will allocate BCIP No. for each proposal, collect suggestions from the community and call votes for the proposal via a method that’s commonly agreed by the community. According to the result of BCIP, BCSO will update the Bitcoin Standard Protocol regularly and set a timetable for software implementation and network activation in coordination with network upgrade.

I believe that Bitcoin Cash Standard Organization (BCSO) will guarantee the development for Bitcoin, and help the community reach a broadest consensus.

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River Financial raises $12M Series A to continue explosive growth of its Bitcoin financial services for traditional investors 11555

San Francisco-based Bitcoin financial services provider River Financial closed a $12 million Series A equity financing round to continue growing its financial service offerings for traditional investors. The investment round was led by Goldcrest Capital with participation from Craft Ventures, Polychain Capital, M13, Castle Island, Slow Ventures, and The Kraft Group.

River Financial previously announced a $5.7 million seed round in June 2020. In the nine months since the company’s seed round announcement, River’s client base has grown by almost 600%, and order volumes have increased by 3,500%. River’s recent iOS app has accelerated the company’s growth, already accounting for over 30% of all River’s order volume within five weeks of launch. River Financial continues to experience exponential growth in new customers and order volume month-over-month as global interest in Bitcoin continues to grow rapidly. Social unrest, inflation fears, and recent elections are driving droves of traditional investors to Bitcoin and River.

River is investing heavily in team growth and product development. According to Co-Founder and CEO Alex Leishman, “Bitcoin is on a trajectory to becoming a global reserve asset, and we are building the financial services that our clients will need for that future.” River’s focus on premium client services and traditional financial tooling, including tax lot tracking and account statements, is attracting increasing numbers of high-end clients who find incumbent solutions intimidating and confusing.

The majority of volume on River is driven by clients over the age of 50, but Co-Founder and COO Andrew Benson believes there is still a large underserved segment of the population, “River’s mission is to bring Bitcoin to investors around the world. Even as global interest in Bitcoin grows rapidly, most Americans over the age of 45 who want Bitcoin still don’t own any. River is helping to fix that by creating familiar, high-end financial solutions for investors who are new to Bitcoin.”

Max Dilendorf Serves as a Bitcoin Expert Witness in USCIS EB-5 Green Card Adjudication Proceedings 10947

The United States Citizenship and Immigration Services (USCIS) has frequently denied EB-5 applications that list Bitcoin exchange-traded-funds as a legitimate “source of funds”. Yet, in an unprecedented approach that included forensic reporting analysis, attorney Max Dilendorf provided an expert legal opinion and due diligence report proving that a green card applicants’ source of funds met the standards to be qualified under this program.

Because USCIS only requires a “preponderance of evidence” showing the legal acquisition of investment funds in EB-5 petitions and offers little guidance for applicants whose funds originated in cryptocurrency, Dilendorf’s confirming evidence was a significant achievement.

The Dilendorf Law Firm, NYC’s top law firm for the digital age, represented several clients in EB-5 matters with the USCIS concerning the clients’ EB-5 investments funded with cryptocurrencies. By submitting blockchain and cryptocurrency expert reports in these cases, the firm has provided evidence to support the legitimate “source of funds”.

The firm’s clients were software engineers and early cryptocurrency adopters who, in the opinion of the crypto compliance law firm, are legally qualified for obtaining EB-5 investor green-cards, as there was little doubt on the legality of the source of the clients’ cryptocurrency funds.

Dilendorf’s legal opinions and blockchain forensic reports, as submitted to the USCIS, included an expert assessment of the following:

  • legality of the specific digital assets and regulatory framework for the involved financial institutions dealing with cryptocurrencies;
  • origin and flow of cryptocurrencies funding the EB-5 investments;
  • mechanism and sufficiency of digital wallets, private cryptographic keys, crypto trading platforms and accounts establishing ownership of the clients’ cryptocurrency funds;
  • KYC/AML compliance measures taken at each point of the funds’ journey by clients and third parties, including crypto exchanges and OTC traders.

Max Dilendorf, Esq. is also a top forensic Bitcoin and crypto expert witness. His expertise has also made him one of the top cryptocurrency consultants for Fortune 500 companies.  Mr. Dilendorf’s recent speaking engagements have included the Thailand SEC, IBM, Berkshire Hathaway, and New York University, to name a few.

Pastel Network Announces the Listing of PSL on the Bitcoin.com Exchange 10363

Pastel Network, the first truly decentralized and scalable blockchain project designed specifically for rare digital art, has officially announced its pending listing on Bitcoin.com, scheduled for March 5, 2021. Pastel Network is a blockchain for rare digital art (also known as “NFTs”) that is built on the secure, battle-tested codebases of the Bitcoin, Dash, and ZCash cryptocurrency projects. Pastel introduces several important innovations to the world of blockchain art, such as the decentralized storage of art image files natively in the network, as well as a decentralized validation process for registering new artworks that prevents near-duplicate images from being added to the system. Pastel’s novel near-duplicate detection algorithm is based on robust image fingerprints that are generated using state-of-the-art deep learning image models and introduces a new form of digital scarcity which makes pixel patterns themselves “rare.”

Pastel takes a different technological approach than competing digital art blockchain projects, which are primarily built on top of the Ethereum platform. Because Pastel is an integrated platform specifically designed for the application of rare digital art, it has its own native Bitcoin-like currency (called the PSL coin). Having a native currency token makes the Pastel Network’s fees for registering, storing, and trading rare artwork very low, which makes it affordable to artists and collectors all over the world. Furthermore, the system includes a native mechanism based on changes in the mining difficulty of Pastel’s proof-of-work algorithm for maintaining these fees at affordable levels long into the future — even if PSL appreciates significantly in value. This is in stark contrast to Ethereum-based art projects, where the cost to create new artworks is currently hundreds of dollars, creating unnecessary financial risks for artists and making these other platforms out of reach for all but the wealthiest artists and the most expensive digital artworks. Even if an artist can afford to pay these egregious fees, the cost of simply transferring the artworks to users is prohibitively high. Pastel offers digital artists a secure and robust environment for registering their rare digital artworks with very low transactional costs, making digital art accessible to artists from anywhere in the world, and allowing a different business model for artists where they can sell larger numbers of their limited-edition digital art “prints” at a price point of under $5, while still making a healthy profit margin.

At the same time, Pastel allows art collectors and fans to purchase rare digital artworks directly from their favorite artists — with most of the value going to the artist instead of being wasted on unproductive network fees and overhead. This allows fans to participate in the long-term success of their favorite artists, creating a reciprocal relationship that transforms an artist’s fans into partners that have a financial stake in promoting the artist’s work. Furthermore, buyers of rare artworks on Pastel are able to trade their owned artworks with other Pastel users in a decentralized exchange that is native to the platform, all while paying modest trading commissions and transaction fees that are closer to the ~2% charged by payment processors such as Paypal and Stripe than the 15% or more charged by art dealers and auction houses, and other NFT platforms. Pastel Network’s low trading fees will lead to a much more dynamic and liquid marketplace for rare digital artwork that has the potential to radically transform the way art is created and collected. Best of all, the trading fees are sent by buyers and sellers to an unspendable PSL address, thus, “burning” them and removing them permanently from circulation. Over time, this natural deflation will offset the new PSL created through the mining process, making PSL scarcer and more valuable.

As Pastel Network’s founder Jeff Emanuel explains, “Today marks an exciting milestone for our project, which has been under continuous development since 2018 with the singular mission of serving the world’s artistic community. We have created an open platform that frees artists from the restrictions of the traditional art market, with its outrageous commissions and dealer fees, as well as its elitist ‘gatekeeping’ mentality that excludes the vast majority of talented artists around the world from earning a living as an artist. With the listing of Pastel on the Bitcoin.com exchange, as well as the public launch of our wallet software for artists and collectors in the next months, Pastel is now poised to disrupt the NFT space with a radically better network design that solves the high transactional fees and scalability issues that plague existing Ethereum-based NFT marketplaces and platforms.”

Pastel Network originated as a fork of the Animecoin blockchain project originally introduced in 2014. Animecoin was based on a modified version of the Bitcoin code and was fairly distributed with zero “pre-mine” to thousands of users around the world. After the fork, the Pastel team raised over $3 million from Innovating Capital and other blockchain investors to fund the development of the Pastel software and to further the goals of the project through community engagement and exchange listings, culminating in Pastel’s pending listing on Bitcoin.com.

Celo Receives Additional $20 Million In Institutional Backing Amid Launch Of Global Payments Application And Exponential User Growth 14117

Celo, an open-source blockchain ecosystem focused on making decentralized financial (DeFi) systems and tools accessible to anyone with a smartphone, today announced $20 million in new backing from purchasers and partners including Andreessen Horowitz, Greenfield One, and Electric Capital. To date, Celo has garnered more than $65 million from backers including Polychain Capital, Reid HoffmanJack Dorsey, Coinbase Ventures, Social Capital, Dragonfly Capital, Version One Ventures, SV Angel, and Valor Capital, among others.

“We now have the technology to create a better financial system – a rich ecology of digital assets and products that allow individuals and organizations to more seamlessly transact and manage risk,” said Rene Reinsberg, co-founder of Celo. “It’s been great to work alongside hundreds of like-minded, mission-driven organizations and entrepreneurs all over the world to bring this technology to life.”

Since the initial development of the Celo Platform in 2017, the Celo community has developed and launched a Mainnet, a native asset (CELO), a stablecoin (cUSD), a mobile payments app, and has been listed on major exchanges including Coinbase and Binance. To date, more than 2M transactions have run across the Celo network, making it one of the most actively used decentralized payments platforms on the market today.

“When we first began supporting Celo two years ago, we saw the opportunity to build a ‘full stack’ global payments platform that anyone with a smartphone could use to send, receive, and store money,” said Katie Haun, General Partner at Andreessen Horowitz. “Celo can dramatically reduce fees and fraud while also making payments instantaneous and global.”

“Celo’s mobile-first approach combined with cross-chain interoperability is truly unique,” said Avichal Garg, Managing Partner at Electric Capital. “A mobile-first philosophy means anyone can onboard into the Celo ecosystem quickly and with just a mobile phone number. Combined with the interoperability bridges that the Celo community is building, people anywhere in the world will soon be able to send Bitcoin, Ethereum, and other digital assets using only their smartphones. We are quickly moving to a world where cryptocurrencies and digital assets are accessible to anyone, globally.”

DVP Launches World’s First Decentralized Security Crowd-testing Platform to Solve Security Issues of DeFi Ecosystem 13846

DVP – Decentralized Vulnerability Platform – is the world’s first decentralized autonomous organization (DAO)-powered vulnerability testing platform created to solve security issues of DeFi ecosystems. It is an international community of information security professionals (White Hats) that seeks to act as a bridge between the white hats and blockchain projects to provide an efficient and transparent blockchain security information platform, which will help improve the overall security awareness and build a better blockchain ecology. The DVP community of white hats can help blockchain projects identify the security vulnerabilities and deliver them to DVP. As reward, the white hat will be paid the corresponding bounty. Through this model, DVP seeks to achieve a mutually beneficial relationship for both the blockchain projects and the white hats.

How DVP works

DVP is an ecosystem where the community conducts multidimensional audits of smart contracts and protocols to notify blockchain projects about bugs, if any. With the surge in the value locked in DeFi projects, the venture will act to curb the alarmingly high number of security breaches. The bounty program launched by DVP invites white hats to conduct massive testing of blockchain products. Their review will give manufacturers an idea about where the project is heading. In return, they can claim token rewards while the manufacturers save costs, facilitating a win-win situation for both parties.

DVP makes use of blockchain technology and token-incentive schemes to establish an anonymous security crowd-testing platform. It connects blockchain vendors with white hat communities, efficiently reducing the hidden vulnerabilities and safeguarding the interests of the digital information industry.

Why DVP? 

2020 has been a phenomenal year for cryptocurrencies, not surprisingly, considering the global economic downturn forced by a pandemic. Market sentiment leaned towards unconventional assets, and the significance of decentralized assets reached a larger mass, not to mention the price rise of most digital assets.

The most important development in the crypto industry has definitely been the wide traction garnered by DeFi. Breaking geographical and financial barriers, DeFi opened up a new trove of possibilities for investors and crypto enthusiasts alike. Despite this, the fact remains that as DeFi grows, so does the number of hacks and security breaches in the ecosystem. Being an industry that is reliant on finance, blockchain, and the web, DeFi carries some potential security threats that could put hundreds of millions of digital assets in jeopardy.

The most efficient solution to eliminate the hidden dangers in the DeFi space is to find the vulnerabilities and fix them in advance. However, most start-up companies that offer security solutions today lack infrastructure and skilled professionals. Established companies may have years of capital and the latest infrastructure, but over-the-roof pricing and the complex processes involved are nightmarish. This is where DVP comes in. “By decentralizing the security testing process using the expertise of white hats, DVP has cracked the challenge of providing excellent services without the need to invest resources, which is difficult for any single company,” said Daniel, CEO of DVP.

Blockchain Wave is waiting for you in Antalya in 8 Apri 14623

Blockchain-Wave

The wave of international blockchain innovation is coming to the shores of the Mediterranean. In April this spring, Antalya is the place to be for Crypto enthusiasts, Crypto investors, IT specialists and trailblazers in the field of Blockchain IT technology and Cryptocurrencies. Come to Rixos Downtown for networking and recreation!
The organizers are German agency Lead Volume and Turkish blockchain-platform Centex, experienced online-market players.

Blockchain Wave at Rixos Downtown Antalya is a lounge style conference for 1,000 participants with a themed networking after-party on the Mediterranean coast. Listen to speakers from different regions of the world in a relaxed environment. At the exhibition, guests can find new partners and hold discussions in the comfortable networking lounges. Later on, Blockchain Wave participants will go to a themed after-party show, where you have the chance of getting to know partners and clients better in an informal party atmosphere. The mystery theme of the show is to be announced a month before the event.

  • 14  speakers from Europe, Asia and the CIS
  • 2 panel discussions
  • 8 hours of useful content
  • 30  promo stands at exhibition
  • 3 networking lounges with drinks and snacks
  • 1 unique costumed after-party show!

The main goal – the organization of a meeting place on the Mediterrenean coast where IT, blockchain and crypto currency specialists and influencers can to network and relax at. Antalya is an ideal location, with convenient international connections allowing guests from Europe and Asia to come together to negotiate partnerships, socialise and enjoy luxurious resort facilities and warm climate. logistics for the meetings, negotiations and leisure of guests from Europe and Asia. Here, the leaders of innovative projects can share their international experience, establish new business connections and enjoy their leisure time, before celebrating their deals at the impressive after-party.

For whom:
Blockchain start-ups, crypto funds, investors, crypto exchanges and wallets, traders, miners, developers and visionaries.

Topics include:

  • Crypto trading in 2021
  • Investing in blockchain projects in current conditions
  • New trends: DeFi, crowdfunding and tokensale-Mining in 2021
  • The legal aspect of crypto-currency regulation in different countries.
  • Decentralised solutions for the modern world-Blockchain and crypto-trading training schemes.

You are welcome!