Latest Bitcoin News by Category: Bitcoin Tech

Bitcoin developer Jeff Garzik talk about the BitSat orbiting bitcoin node

Posted on 17th June, 2014

In April, bitcoin developer Jeff Garzik revealed plans to launch a small, orbiting satellite acting as a blockchain node. The fittingly dubbed “BitSat” would act as a one-to-many connection, helping to protect the bitcoin network from a variety of possible peer-to-peer attacks and network outages. Thanks to advances in launch and satellite technology, each orbiting […]

Report: 30 bitcoin ATMs to open in Vancouver

Posted on 17th June, 2014

The launch of a single bitcoin ATM is still relatively big news in the cryptocurrency world. At the moment, the machines are uncommon even on the streets of large cities, and practically unheard of in smaller ones. In Vancouver, Canada, a bitcoin startup called Quadriga CX has announced plans to make virtual currency ATMs as […]

Report: BitGo raises $12 million in new investment

Posted on 16th June, 2014

Many in the bitcoin development world have claimed that 2014 will be the “Year of Multi-Sig.” Until today, that seemed like little more than wishful thinking by security focused coders. With $12 million in new investment, multi-signature wallet provider BitGo can make the case it’s at least the month of multi-sig. According to a report […]

GHash.io issues statement about 51% situation

Posted on 16th June, 2014

Over the weekend, bitcoin mega-pool GHash.io controlled more than half of the network’s hashing power. Given that bitcoin was designed to be decentralized, with no particular party having any significant authority over the network, this was a deeply troubling development. Even worse, the GHash situation was a clear demonstration that bitcoin was unambiguously vulnerable to […]

GHash fallout prompts BitFury to pull 1.5PH/s from pool

Posted on 14th June, 2014

Industrial bitcoin mining company BitFury announced today that it has moved 1.5 petahash from the GHash.io pool following widespread concerns of hashrate centralization and growing fears about the potential of a 51% attack. The company maintains two high-powered mining facilities in Iceland and Finland, taking advantage of those countries extremely low energy costs. Should the […]

Bitcoin developer Gavin Andresen weighs in on centralized mining and the GHash situation

Posted on 14th June, 2014

Back in May Bitcoin Foundation Chief Scientist told a crowd at the Bitcoin2014: “I still don’t care about mining [except] in the way it affects user experiences.” In the past two months, however, the situation has changed. Writing for the official Bitcoin Foundation blog today, Andresen expressed deep concerns about centralized mining and the impact […]

Bitcoin ATM maker BitAccess admitted into tech startup accelerator Y Combinator

Posted on 13th June, 2014

There are few tech incubator programs as prestigious as Y Combinator. The program has provided seed funding and business development guidance for some of the best-known startups of the last decade, including Dropbox, Airbnb and Reddit. In the bitcoin world, Y Combinator is perhaps best known as an early backer of Coinbase, easily one of […]

Mining pool giant GHash.io reaches 50% of bitcoin hashing power

Posted on 13th June, 2014

Yesterday, mining pool giant GHash.io controlled fully half of the hashing power of the entire bitcoin network. For a distributed network that relies on trustless consensus, having the majority of the “voting” power controlled by a single mining pool is more than a little problematic. Most notably, it opens up the bitcoin network to the […]

Report: Former Blockchain executive joins OKCoin

Posted on 12th June, 2014

Over the course of 2013, Changpeng Zhao helped Blockchain grow from a small startup to one of the biggest names in the bitcoin industry. As the Head of Development, Zhao guided the company through countless stages, helping to launch a suite of storage and analysis tools used by people and companies across the globe. Anyone […]