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Last May, the U.S. Internal Revenue Service (IRS) revealed it would be issuing new tax guidance and rules about the tax treatment of digital assets and forks. IRS Commissioner Charles Rettig told congressional leaders that the agency has made it a priority to issue crypto-related tax guidance. This week news.Bitcoin.com spoke with Sean Ryan, CTO … Read more
A report published by Electric Capital has estimated that the number of developers working on public cryptocurrencies has doubled since January 2018. The research found that Ethereum has the largest development team of all established crypto assets, with 216 developers contributing to its codebase each month on average. Also Read: EY Executive Says Bitcoin Has … Read more
On Feb. 20, the San Francisco-based cryptocurrency exchange Coinbase gave the public an inside look at how the company deals with contentious forks. Coinbase engineer Breck Stodghill specifically discussed how the trading platform dealt with the Bitcoin Cash (BCH) split on November 15, 2018. Also read: ‘Bitcoin Killer’ Onecoin Is Ashes But Investigations Continue to … Read more
Last November the Bitcoin Cash (BCH) community witnessed a hash war that resulted in a bifurcation of the main chain. The spat saw one of the first examples of the alpha miner strategy and an attempt to truly test Nakamoto consensus. About a week before the fork, a new mining operation was announced called Shark … Read more
Over the last few years, infighting and different visions has led to significant divides within the Bitcoin community, weakening the network effects no matter which chain you support. With all the arguments about scaling, privacy, consensus changes and the various forks, it is amazing that these public networks are still thriving. Nevertheless, the people who … Read more
Over the last few years, certain cryptocurrency networks have tried to block ASIC mining with many fruitless attempts to forge ASIC-resistant protocols. Multiple cryptocurrency developers have attempted to brick ASIC miners, but with scant success. A perfect example is the privacy-centric digital currency Monero, a project that has tried to fork the software multiple times … Read more
During the first month of 2019, studies have revealed the growing trend of unknown miners processing blocks on the Bitcoin Core (BTC) network. A few years ago, most mining pools began revealing their identity via the coinbase parameter when they found a block. Over the last two years, however, unknown miners have started to dominate … Read more
On Thursday, September 27, Eminent.ly developers announced the launch of an application programming interface (API) called Chopsticks.cash. The Chopsticks API is for application developers or advanced users that are worried about the possibility of a contentious fork this November. Also Read: Developers Unveil Two New Bitcoin Cash Full Node Clients Written in Go Chopsticks API Allows … Read more
Forking cryptocurrencies, usually Bitcoin or one of its offshoots, was all the rage 12 months ago. Today, the spate of new forks has dwindled to a trickle. With the benefit of hindsight, and armed with over a year’s worth of data, it’s possible to determine which forks succeeded and why. Also read: Six New and Improved … Read more
This past Thursday, the lead developer of Bitcoin ABC, Amaury Séchet, published a paper on the social media platform Yours.org about a protocol technique called ‘pre-consensus.’ According to Séchet, and other BCH developers like Bitcoin Unlimited’s Peter Rizun, pre-consensus could improve block propagation time, benefit zero-confirmation reliability and help delegate decisions tethered to consensus conditions. … Read more
