update

Mozilla to Reinstate Crypto Donations — Organization Will Not Accept Proof-of-Work Cryptocurrencies

13/04/2022 by Idelto Editor

During the first week of January, the software community Mozilla revealed it was pausing cryptocurrency donations after citing environmental concerns. 14 weeks later, Mozilla decided last week it will accept crypto donations again, but only from digital assets that leverage a proof-of-stake (PoS) consensus model.

Mozilla Plans to Accept PoS Crypto Assets Only, Executive Says PoW Cryptos ‘Significantly Increase Our GHG Footprint’

On April 7, Mark Surman, the executive director at the Mozilla Foundation, published an update about the software community pausing crypto donations. Surman said that it was after Mozilla released its climate commitments, and after Mozilla staff and supporters complained, that the foundation decided to pause crypto donations. Mozilla decided to review the environmental impact of cryptocurrencies more closely, and Surman’s blog post reports back on the results of Mozilla’s review.

“Starting today, we are updating our donation policy,” Surman’s update explains. “Mozilla will no longer accept ‘proof-of-work’ cryptocurrencies, which are more energy-intensive. Mozilla will accept ‘proof-of-stake’ cryptocurrencies, which are less energy-intensive. Mozilla will develop and share a list of cryptocurrencies we accept by the end of Q2 2022,” the Mozilla Foundation executive director added.

Surman detailed that the decision is mainly based on the organization’s climate commitments that aim to “exceed the net-zero emissions commitment of the Paris Climate Agreement.” The Mozilla Foundation believes that proof-of-work (PoW) digital assets “significantly increase our GHG footprint.” By stopping the acceptance of PoW cryptos, Surman stressed that the decision remains “aligned” with Mozilla’s emissions commitment.

“In our climate commitments, we also promised to help develop, design, and improve products from a sustainability perspective,” Mozilla’s executive director concluded. “We believe that Mozilla can play a positive role in the industry by encouraging those cryptocurrencies that we do accept to be transparent about their energy consumption patterns.”

What do you think about Mozilla changing its decision to accept PoS cryptocurrencies? Let us know what you think about this subject in the comments section below.

Bitcoin Cash Slated for May 15- Upgrade to Bring Improvements for Users and Merchants

05/05/2021 by Idelto Editor

Bitcoin Cash May 15 Upgrade Brings Improvements for Users and Merchants

On May 15, 2021, the Bitcoin Cash network will undergo the process of an upgrade that will bring a handful of improvements. These updates include the removal of the unconfirmed transaction limit, enabling multiple OP_RETURNS, the implementation of double-spend proofs, and the inclusion of a new mining block default limit size of 8 MB, as the inclusion of CHIPs (Cash Improvement Proposals) to introduce new specification changes to the protocol.

Bitcoin Cash May 15 Upgrade: What You Need to Know

The Bitcoin Cash (BCH) network will experience an upgrade on May 15th that will bring a series of simple, yet interesting changes focused on usability and quality of life improvements instead of hard changes to the consensus algorithm. Most of the important changes are destined to improve the experience of users and merchants when using bitcoin cash to make online or in-store payments, reaffirming the commitment the currency has with becoming a peer-to-peer cash-focused tool.

Documentation for the May 15, 2021, Bitcoin Cash network upgrade.

The first important change proposed is the removal of the unconfirmed chained transaction limit, which will allow users to do more than 50 chained unconfirmed transactions at a time. This was a highly requested feature for a long time by gambling sites and other high volumes, quick transaction apps that relied on Bitcoin Cash as a payment solution. Satoshi Dice, a dice-playing app, even offered a bounty of 1000 BCH last year to get rid of this limit. Now, its users will be able to enjoy a more streamlined experience without having to wait for a block to be mined every 50 transactions.

Another important update is the introduction of double-spend tests, that will allow nodes to message certain wallets when an attempt of double spending is happening with a transaction. This will improve the security of 0-conf transactions for applications that use high-volume, high-value transactions commonly.

Other important updates include changing the default block mining max size to eight megabytes, something that will allow new installs and lazy operators to include mine bigger blocks without having to configure this parameter by themselves (but the option can be changed), and the inclusion of more than one OP_RETURN statement in each transaction, offering programmers the choice of using this space for other different purposes while still preserving its use for the SLP token protocol.

CHIPs and the New Upgrade Schedule

One of the most criticized aspects of the upgrade/ hard fork the process of Bitcoin Cash was the centralization and transparency of what was going to be included in each upgrade and what was definitely left out. For past updates, there was no standard to follow and goalposts and objectives were often moved with no definition. To solve this particular problem, the node programming community introduced the concept of CHIPs.

CHIPs (Cash Improvement Proposals) are standardized proposals that seek to modify or improve certain aspects of the Bitcoin Cash environment. These CHIPs would have to be first presented to the community to be considered by full node client programmers, who will try to find consensus to include (or reject any significant modification. Most of the CHIPs presented till now are hosted on the Bitcoin Cash Research page, which serves as a sort of hub for these considerations.

All of this will need a longer period to take care of and examine each one of the proposals before an update; this is the reason why this upgrade is also modifying the schedule for upgrades to happen once every year. This is a more stable approach that now allows for more experimentation and careful consideration of more radical changes to the protocol for future upgrade cycles.

Meanwhile, bitcoin cash (BCH) markets have seen significant gains during the last 48 hours, jumping over the $1,200 per unit range on Wednesday morning (ET).

What do you think about the Bitcoin Cash May 15 network upgrade? Share your thoughts on the subject in the comments section below.

Tezos Announces Major Upgrade to Improve Network Functionality

19/02/2021 by Idelto Editor

Open-source platform Tezos has just announced Edo, its fifth and most ambitious upgrade to its blockchain to date. This upgrade will add the Sapling protocol, tickets, and a new Adoption Period to support future upgrades that improve network functionality.

Sapling, Tickets, and a New Adoption Period will Bolster Future Upgrades

Tezos has been ramping up development activity following the growing hype around its native token XTZ, which has risen nearly 120% year-to-date as of writing. Its last update, Delphi, was released three months ago and cut gas costs by 75%.

Tezos says its new Sapling protocol will enable developers to power “new types of applications” by incorporating “voting or supporting asset transactions with selective disclosures.” One-use tickets will act as a ‘convenient mechanism’ to unlock contractual functions, according to Tezos. Besides improving developer efficiency, tickets are designed to encourage more ‘secure and composable contracts’ and issue tokens.

New Adoption Period to Ease Transition to New Protocols

The new Adoption Period is set to address the common challenges users face on the Tezos network during the transition period of new protocols. Users can now expect a five-cycle period between the approval of upgrades and the adoption process (approximately two weeks). This signals a departure from Tezos’ previous mechanism of four periods to eight cycles, with Tezos declaring its commitment to “seamless upgrade transitions for all users.”

Edo will tackle minor bugs, improve overall performance, and lower gas consumption than previous ecosystem upgrades. Tezos’ progress continues apace, with the project already working towards the next milestone. In the Edo release, Tezos stated that users could anticipate news on its next major update, Florence, soon.

What do you think about the future of the XTZ token? Let us know in the comments section below.

Bitcoin Cash House Ghana Finds Liquidity Provider, Seeks to Partner With Mobile Money Services

21/02/2020 by Idelto Editor

Bitcoin Cash House Ghana Finds Liquidity Provider, Partners With Mobile Money Services

Bitcoin Cash House Ghana has announced they’ve found a liquidity provider for converting between BCH and Ghanaian cedi, and are now preparing to furnish their building and move in, preparing for official launch on March 1. A new read.cash post from organizer Kousha detailed the status of the project and also initiated a small fundraiser for internet setup which has already surpassed its goal as of Tuesday. BCH House Ghana was inspired by the already operational BCH House Venezuela.

Also Read: Grassroots Bitcoin Cash House Movement Expands to Ghana

Cash House Movement Grows

Though not officially affiliated with BCH House Venezuela, the Ghana group’s implementation of the concept wanted to use the same name as a show of solidarity and community with the first version, and both have received support from Bitcoin.com. The project is free and decentralized, as concept creator Roberto Garcia notes in BCH House Venezuela’s recent update, which encourages anyone with the will to open their own local office to reach out for assistance and do so. BCH House Venezuela has been active since November last year.

Kousha, ambassador for the Ghana project, is located in Heidelberg, Germany, and is working with “man on the ground” Mohammed Mustapha Yakubum, who can be seen posing with the BCH House Ghana signboard in this article’s featured picture. The goals listed in Kousha’s update post on the crypto hub are four-fold: tutoring payment partners, “creating and listing cashaccounts for merchants based on location,” designing a website and map for customers on bchghana.org, and “Hosting a meetup to celebrate the official start of operations,” which is set for March 1.

BCH to Facilitate Remittances in West Africa

“Mobile Money Services flourishing in Ghana,” a picture caption in the post reads, “However, BCH is still cheaper and easier to utilize.” Payment partners signing up with the BCH House will be able to handle remittances for customers in cheaper fashion by utilizing bitcoin cash. Kousha writes:

These partners, providing a very similar product as mobile money services, will remit customer money easier, safer and still cheaper than the usual services.

Internet Costs Covered by BCH Tips, Locals Already Expressing Interest

In his read.cash update the ambassador details:

The house is painted and the BCH sign is installed and already attracting people, who are interested in investing in BCH. It’s a good sign (no pun intended), that there are already people out there, who don’t have to be convinced to open up to cryptocurrencies or Bitcoin Cash. And we are their perfect contact to get started right away.

Kousha goes on to note that while he will pay for some necessities like tables and chairs, BCH House Ghana must have their internet set up “In order for the attendees of the upcoming BCH House ‘opening’ meetup to be able to receive their first Bitcoin Cash, USDH or Lead transaction,” and that “we want to have the Wifi installed until the end of February.” He clarifies that the tips for the article will go toward the internet connection, which costs $75 for one year. The article at time of writing has already garnered over $250 in tips.

Safarri Project

Those that tipped toward the internet fund are to receive BCH House Ghana’s own SLP token as a reward, and Kousha affirms he is planning on using the dividends function to reward supporters down the road should the project be successful.

“At first these tokens may not mean much more than an honoring badge,” the organizer explains, “But based on how big our project gets over time, we will find a way to reimburse your active support, when it was needed the most, in future funding campaigns and SLP dividends.”

The token is to be minted at the end of the fundraising period on February 21, and is part of the larger vision for what the initiative calls the Safarri Project, which will equip payment partners in the money changing business to act as remittance services via BCH. Information about these partners will be included in the next read.cash update, according to the BCH House Ghana ambassador, and those looking to keep abreast of the latest info can also join the official Telegram group.

Anybody Can Start a BCH Project

The permissionless and decentralized nature of bitcoin cash allows for anyone with a cause to freely take action. Like the BCH House crypto resource hubs, BCH charities have also been started in diverse locations with no official connection to one another, but with the same overarching goal of bringing more economic freedom to the world. Charity initiative Eatbch, for example, is located in both Venezuela and South Sudan, though the groups are independently operated.

Eatbch leverages bitcoin cash to feed impoverished communities and is a grassroots project, not dependent on regulators or politicians to function. Since BCH is a borderless money with negligible transaction fees, anyone with an idea and the resolve to get started can do so.

What do you think about the developments at BCH House Ghana? Let us know in the comments section below.

Images courtesy of Shutterstock, BCH House Ghana, Eatbch, fair use.

Want to create your own secure cold storage paper wallet? Check our tools section. You can also enjoy the easiest way to buy Bitcoin online with us. Download your free Bitcoin wallet and head to our Purchase Bitcoin page where you can buy BCH and BTC securely.

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Market Update: Bitcoin Cash Shines as Crypto Markets Show Bullish Signals

05/02/2020 by Idelto Editor

Market Update: Bitcoin Cash Price Shines As Crypto Markets Show Bullish Signals

Digital currency markets are in the green again today after seeing some moderate losses the day prior. The leading cryptocurrency in the top 10 is the fourth-largest blockchain by market cap, bitcoin cash, which is up 14% today. A variety of other digital asset markets are doing well as the overall market valuation of all the coins in existence has gained $20 billion in the last day.

Also Read: Craig Wright’s ‘Bonded Courier’ Allegedly an Attorney Who Can’t Communicate

Crypto Prices See a Sharp Rise

Cryptocurrency proponents are pleased to see that prices are doing better than they were 24 hours ago. At press time, the entire cryptoconomy is worth around $266 billion and there’s billions worth of digital assets being swapped today. BTC is currently trading for $9,439 per coin and the market is up 3.4% on Wednesday. The currency has around $1.8 billion in global trade volume and the price is still 52% down from it’s all-time high (ATH) in December 2017.

The second-largest blockchain by market cap is ethereum (ETH) which is up 6% today and 11% for the week. Each ETH is swapping for $197 per coin and the asset is still down 86% from its ATH. Ethereum markets have around $962 million in reported trade volume during the last 24 hours. Ripple (XRP) still commands the third-largest market valuation and XRP is up 7% today at $0.27 per coin. The last seven days have seen XRP jump by 16% and the digital currency has around $1.3 billion in trade volume worldwide.

Bitcoin Cash Up 153% Since Jan. 1, 2019

Bitcoin cash (BCH) markets are up 14% over the last day and 11% for the last seven days. Each BCH is trading for $429 per coin and the currency’s global trade volume this Wednesday is around $1.1 billion. BCH is up 264% over the last 12 months and 153% since Jan. 1, 2019 when prices were at $168 per coin. At the time of publication, the BCH market cap is hovering around $7.85 billion. Cryptocurrency and Fxstreet analyst Ken Chigbo’s latest analysis says that “BCH/USD has an opportunity to shoot higher.” Chigbo notes that BCH/USD price action has continued to move “within a potential bullish pennant.” “The daily price action has been tight for going on seven sessions now, as the price consolidates,” the analyst remarked. “A range block formation is observed via the 60-minute chart view, awaiting the next committed move potentially from the bulls.”

Perma Bull Tom Lee Predicts BTC Market Prices Could Tap New Highs

Fundstrat Global Advisors cofounder Tom Lee is well known for his price predictions and many people consider his opinions to be extremely bullish. On Feb. 4, Lee told the press that he is “really optimistic” about BTC prices in the short term and has made another prediction. “January is usually a week month, it was a great month for bitcoin, [which is] up 26% — but also recovered its 200-day moving average,” Lee told Yahoo Finance. “That’s a big deal as you know, as anyone [who follows trends] knows when you’re back above your 200-day, you’re back in a bull market. Whenever bitcoin breaks back into its 200-day, its average six-month gain is 197%,” the Fundstrat executive said.

Wealth Manager Expects BTC Prices to Jump to $400k by 2030

On a Citizen Bitcoin podcast hosted by Brady Swenson, a California-based investment advisor from the firm Wescap said that he believes hyperbitcoinization will happen. “I think the total valuation on 10 years that I use is about $8 trillion and that comes from various buckets,” said Andy Edstrom. “Whether it’s taking share from gold, or taking share from fiat, or taking share from offshore assets, or slightly demonetizing other stores of value like real estate or new uses that we haven’t thought of, or are still under construction, such as micropayments,” explained Wescap’s Edstrom. The wealth manager noted that severe geopolitical tensions and the mass printing of fiat reserves could push more people toward BTC. Edstrom has written a book called “Why Buy Bitcoin,” and the investment advisor discusses the examination with Swenson throughout the podcast episode.

‘BTC Prices Could Dump Hard,’ Says Popular Crypto Trader

The popular crypto trader on Twitter @MacnBTC, who has over 28,000 followers, warned on Feb. 2, 2020 that “BTC is gonna dump hard this week and over $100M in longs will get wiped.” The trader pinned the tweet to his profile and said “don’t say I didn’t warn you” as well.

$BTC is gonna dump hard this week and over $100M in longs will get wiped.

Don’t say I didn’t warn you

— Mac ❄️🐺 (@MacnBTC) February 2, 2020

Despite all the people telling Mac that the price won’t dump, he continues to tweet that it’s still happening. “I hope it will happen,” the Twitter account Gemhunter replied. “Made great profits, after passing 9.6k I’m tethering and making some serious sat game,” he added. Another person disagreed with Mac’s tweet on Wednesday and said: “Dream on — No pullbacks in a bull market.”

In addition to the top 10 currencies seeing some price action on Wednesday, a slew of lesser-known coins has seen some considerable gains and losses. Cryptaur is up 467% today, fusion gained 396%, lisk jumped 72%, and mossland gained around 28% in the last 24 hours. As far as 24 hour losses are concerned, loom network coins are down 34%, karatgold coin has lost 24%, gifto is down 14%, and the icon project has seen a loss of 6% during the last day.

Where do you see the cryptocurrency markets heading from here? Let us know what you think about this subject in the comments section below.

Disclaimer: Price articles and market updates are intended for informational purposes only and should not be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.” Cryptocurrency prices referenced in this article were recorded at 10:20 am on February 5, 2020.

Images via Shutterstock, Trading View, Bitcoin.com Markets, Twitter,

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