Bitcoin, Crypto currency, Blockchain

Tech-ECHO KW 31 – Bitcoin Lightning, Sidechains, and patents for the Blockchain


Bitcoin may have further developments in the Lightning Network. Regardless of Cryptocurrencies, a distributed Zero-Knowledge Proof was proposed, and various block chain, relevant patents have been filed.

“I’m in it for the technology” is an Expression you hear in bullish and bearish times. Suitable to this self-definition we start today a new Format: in addition to the weekly Chart and the market analysis, the regulatory-ECHO, and the freedom of speech, ECHO comes as a further column of the technology review. We will be currencies on technical News for Bitcoin, other Crypto, and the General Blockchain-sector view.

Bitcoin: With a ZAP to the Lightning Network

The Lightning Community is the driver of innovation in the Bitcoin Ecosystem, you could see some time on the Lightning Hackday. At the point, a short advertisement: The third edition, this BarCamp will take place on 3. September take place. Currently places are still available!

The people know: A picture says more than a thousand words. When the question arises, therefore, how the Lightning-adaptation is progressing, can help images. As a representation of the network shows, was able to grow the Lightning Network of 39 Nodes in January at 2,640 Nodes in July. Thus, the Lightning Network can have more Nodes than some of the established Altcoin Ecosystem. The number of channels and the total capacity has a hundredfold more than. Way to go, Lightning!

However, not only in the adaptation does a lot; the development not sleeping well. Zap, a Wallet for the Lightning Network, can have a new Desktop Wallet with auto-configuration, support of BTCPay and a remote connection. Currently, the Release is still connected to the Testnet, and interested users are invited to Test. In addition, Zap has developed an Alpha Version of an iOS client for the Zap. In this case, the Client will not run alone but with a user-specified Node interact. This and further news is Jack Mallers of Zap in a Medium has presented articles.

Altcoins: 700.000 transactions in Bitcoin, Cash, monthly fees at EOS, and more

As a Reconciliation to the Altcoins a milestone of Bitcoin Cash can not be concealed. Bitcoin to Cash on 1. August a year old, the Community celebrated with a flood of transactions: With nearly 700,000 transactions, Bitcoin Cash has processed to this birthday more transactions than Bitcoin ever could – at a significantly lower transaction fees. Also if you can provide Details of the stress tests, wants to be a stress test of the question: Such developments are bringing Bitcoin to Cash significantly more than a Roger Ver, who writes the daily “the Bitcoin Cash is the real Bitcoin”.

If to speak about a high Throughput of transactions, past it is difficult not to EOS. A few weeks ago, EOS was able to record over 1,000 TPS. However, EOS has other problems: The resource market, specifically the EOS-RAM market is in the hands of speculators – what is the actual Intention of this market in the past. Not only this Problem, but the General coupling from the value of the EOS network on the EOS-rate to be solved by a new system of charges. It is set on a kind of monthly fee and not a transaction fee. More you can read in the article by Dan Larimer.

Cardano, or, more precisely, IOHK, have launched a new Testnet for the after Lady Ada Lovelace named crypto-currency. With the programming language ANY one can write now Smart Contracts. This SCHOOL already has its own Virtual Machine. Still, this Smart-Contract System is not associated with Cardano himself, however, the Cardano is supposed to be used Blockchain as a data technical basis. The Blog Post itself and a Link to the IELE-Testnet can give those Interested a deeper look into this technology.

New developments in the Blockchain sector: Distributed Zero-Knowledge Proofs, and stable Sidechains

Beyond the well-known crypto-currencies. A Team of UC Berkeley has adopted the theme Zero Knowledge Proof. In the case of the Zero Knowledge Proof is to prove another party, the validity of certain Statements, without having more Information. Currently, these systems are quite a resource and memory hogs. The Problem with this is that the users are very good on the Computer are required. Not everyone has that, and things like Mobile Wallets could not use the Zero Knowledge Proofs. The Team therefore proposes a distributed Zero-Knowledge Proof, by which computing power is distributed on different systems. Further Details are given in the Paper.

Another very interesting Paper published by a Team of Commerce block. Because a repeatedly discussed topic Sidechains. About Sidechains of a Main Chain can be taken off the load of transactions and the scope of the function to be expanded without a Hard Fork. A risk is that the Governance of the Sidechains acts independently of the main chain. If the Sidechain undergoes a Hard Fork, it may happen that the connection to the Main ripping Chain. The opposite also poses risks: it Should come in the context of a Hard Fork to a Chain Split, it could cause the Main Chain operates in an uncontrolled manner with two Side Chains. Tom Trevethan and his colleagues have developed, therefore, with the Mainstay of a System that such Forks allows only a simultaneous Fork of the Main Chain.

Patents on Blockchain for household appliances, Mining, and documents validation

Finally, various patents have been submitted or accepted: Walmart has submitted a Patent for the use of block chains in the context of Smart Homes, or more precisely, smart appliances. Thrust is here to protect Smart Home applications from access from the outside. Sony has submitted a Patent, which is Hardware for Mining processes. Factom finally, a Patent filed, which documents the validation of the Blockchain to the target.

You can see The Blockchain-scene is not sleeping and does not look only on the price. Both within the crypto-Community as well as directly with the Blockchain associated companies only the interest does not exist, but is really a spirit that is subsumed in the nerdy Parts of the Community with #BUILDL: the proactive behavior that you need to the entire technology.

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