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Category: bitcoin – Page 55

Howdy folks.

I hope you’ll find today’s post as interesting as I do. It’s a bit of brain candy and outlines an exciting vision for the future of digital identities.

Over the last 12 months we’ve invested in incubating a set of ideas for using Blockchain (and other distributed ledger technologies) to create new types of digital identities, identities designed from the ground up to enhance personal privacy, security and control. We’re pretty excited by what we’ve learned and by the new partnerships we’ve formed in the process. Today we’re taking the opportunity to share our thinking and direction with you. This blog is part of a series and follows on Peggy Johnson’s blog post announcing that Microsoft has joined the ID2020 initiative. If you haven’t already Peggy’s post, I would recommend reading it first.

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As a group, simple creatures following simple rules can display a surprising amount of complexity, efficiency, and even creativity. Known as swarm intelligence, this trait is found throughout nature, but researchers have recently begun using it to transform various fields such as robotics, data mining, medicine, and blockchains.

Ants, for example, can only perform a limited range of functions, but an ant colony can build bridges, create superhighways of food and information, wage war, and enslave other ant species—all of which are beyond the comprehension of any single ant. Likewise, schools of fish, flocks of birds, beehives, and other species exhibit behavior indicative of planning by a higher intelligence that doesn’t actually exist.

It happens by a process called stigmergy. Simply put, a small change by a group member causes other members to behave differently, leading to a new pattern of behavior.

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Puerto Rico 09:15 A History of Virtual Currency and Digital Payments Rod Garratt UCSB 09:30 Transparency and the Transformative Nature of Blockchain Technology Gerardo Trevino Paybook 10:00 Living on the Ledger And The Coming Licensing Revolution Matt Clemenson Lottery.com Scott Picken WealthMigrate.com 10:30 Coffee Break 11:00 New Money, New Internet, New World Alena Vranova Satoshi Labs 11:15 Crypto Trading Panel Jared Geata Blockchain Industries, Inc.

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Back in April of 2017 Bitcoin.com launched a notary service that was based on top of the bitcoin core (BTC) blockchain. However, due to the transaction bottleneck and extremely high fees, the notary service became unsustainable. Now Bitcoin.com has re-launched the notary using the bitcoin cash (BCH) blockchain, and anyone in the world can prove ownership for only 0.0005 BCH (about $0.97).

Also read: Lots of Optimism at the Miami Bitcoin Conference This Week

This week Bitcoin.com has re-launched the blockchain-based notary service that was once tethered to the bitcoin core blockchain. Unfortunately, the service did not work correctly because of transaction backlog, and high network fees to verify documents. Now the infrastructure is tied to the bitcoin cash blockchain making document verification extremely cheap, and fees are practically non-existent. Right now a user can upload a document for only 0.0005 BCH ($0.97), and the network transaction fee is less than a penny. (It’s important to note that records don’t actually “exist” on the chain per say, it is merely timestamped encrypted data that is tied to the file that’s processed into a valid BCH transaction.) Not only that but the proof will be verified in less than ten minutes, and you can rest assure the notarization service will be validated.

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