Segwit2x Update Rejected
An update for bitcoin software called Segwit2x was rejected by supporters of bitcoin. The update would have increased bitcoin’s transaction capacity that is now limited by software programming. Segwit2x, from Segregated Witness, alters how data is stored.
The current block size limit is 494,784 or about 500,000. The new tune up would push that beyond that limit. For the average consumer this means nothing. Currently bitcoin miners are the focus of this update since they are trading in bitcoin and maybe much more now since the boom in bitcoin value.
The programming was accurate enough and most of the transactions would have been outside of the consensus and rejected. An update still might go forward sometime on the road ahead.
Bitcoin Rises in Value
Bitcoin has risen above the $7000. Since the start of 2017, bitcoin has risen over 1000%. Some analysts think it could go over $10,000. As a result everything blockchain or bitcoin can expect a surge in interest or stock price. It does have a bubble feel, though bitcoin and the underlying technology is probably here to stay.
Singer Bjork Gives Cryptocurrency with new Album
Singer Bjork is giving away audiocoin, one of the many cryptocurrencies, for purchasers of her new album. It’s a marketing ploy. Audiocoins are worth less than .50. But it does spark interest in cryptocurrency for those not aware of it.
Bjork is a 51 Iceland native who once walked the red carpet in a swan inspired costume. Her latest album Utopia will available for purchase with bitcoin, litecoin, dashcoin and audiocoin. Blockchain Integration Technology, created by Blockpool, has developed interfaces for various systems to connect blockchains.
On the news, audiocoin has spiked to four times its value to falling back to twice value. It now stands at 0.0043 per coin.
In other bitcoin news, the IMF is encouraging banks to invest in cryptocurrencies. Several investment companies like JpMorgan, Wells Fargo, and Credit Suisse are investing in Axoni, a blockchain startup. And the Legolas exchange, an exchange based in Luxembourg, will debut in 2018. It’s billed as a fair and theft proof exchange that allows for multiple cryptocurrency transactions.