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Bitcoin SV Technical Standards Committee recommends first technical standard

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Bitcoin Association for BSV, the Switzerland-based global industry organisation that works to advance business with the Bitcoin SV (BSV) blockchain and digital currency, today announces that the Bitcoin SV Technical Standards Committee (TSC), an industry-led standards organisation for the BSV ecosystem, , has progressed the Merkle proof standardised format to the recommended stage – the first BSV Technical Standard to reach this milestone.

Merkle proofs are vital to all uses of Simplified Payment Verification (SPV) described in the original Bitcoin whitepaper and form the foundation of most user interactions with the Bitcoin network. Because there are a wide variety of implementations transmitting and receiving Merkle proofs, a standardised format was proposed to improve interoperability of Merkle proofs between applications across the BSV ecosystem.

After first being proposed in June 2020 and passing an initial checkpoint review by the 10 Technical Standards Committee members, the proposed standard data format for Merkle inclusion proofs was drafted by a dedicated workgroup and subjected to several subsequent review phases – including an open public review – after which the standard was published in June 2021. Following the publication of the standard, the TSC has monitored the standard for adoption from businesses to determine its usefulness to the broader BSV ecosystem.

With the Merkle proof standardised format now in use across three prominent ecosystem applications – the Bitcoin SV node software, Merchant API (mAPI), ElectrumSV and ElectrumX – the TSC has determined that the standard has reached a sufficient level of adoption to progress to the recommended stage. The standardised format for Merkle proofs is now recommended for all businesses across the BSV ecosystem that utilise Merkle proofs in their application or service. The TSC will continue to monitor the standard for adoption, as well as any potential improvements or modifications that may be required to ensure that it remains useful and relevant for businesses that implement it.

The TSC was established to professionalise the development of Bitcoin technology in order to support major enterprise use and accelerate global adoption. It works to promote technical excellence and enhance interoperability across the BSV ecosystem through standardisation. The committee aims to facilitate industry participation and representation in the development of global standards that will promote technical excellence and enhance interoperability across the BSV ecosystem. To find out more, visit tsc.bitcoinassociation.net today.

Commenting on today’s announcement, Bitcoin Association for BSV Founding President Jimmy Nguyen said:

‘The work of the Bitcoin SV Technical Standards Committee is vital to professionalising the development of Bitcoin technology for business and ensuring that it is compatible, interoperable and useful. After nearly two years of work, the Merkle proof standardised format becoming the first standard to reach the recommended phase and see real adoption across the BSV ecosystem is a testament to the hard work that has been put in, the processes that have been developed – and more broadly – the importance of the TSC. I would like to extend my personal thanks to the TSC, the members of the Merkle proof standardised format working group and all of the individuals that have contributed to the success of the first BSV technical standard.’

Also commenting, Chair of the Bitcoin SV Technical Standards Committee Steve Shadders said:

‘The first BSV technical standard progressing to the recommended stage – the final stage for technical standards – represents a significant achievement for the Bitcoin SV Technical Standards Committee. The process to get to this stage has been lengthy, but the standard satisfying all of the criteria required to reach the recommended stage is significant and serves as validation, not only for the Merkle proof standardised format, but also for the TSC and the value it brings to the wider BSV ecosystem. Being the first technical standard to reach this stage, there have been several lessons learned throughout the process for the TSC and its working groups, which will benefit the development of all future technical standards – and more broadly – the BSV ecosystem.’

Bitcoin

LQWD Technologies To Attend Pacific Bitcoin Conference 2023

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Photo Source: pacificbitcoin.com

LQWD Technologies (TSXV: LQWD) (OTC: LQWDF) a front-runner in Bitcoin Lightning Network solutions, is pleased to announce its participation in the Pacific Bitcoin Conference 2023. This premier event is scheduled to take place in Santa Monica, CA, on October 5-6.

Representing LQWD Technologies at the conference will be CEO Shone Anstey, who will be hosting a dedicated booth.

The Pacific Bitcoin Conference serves as a nexus for knowledge exchange and networking in the realm of Bitcoin and blockchain technologies.

Those interested in attending can find more information and purchase tickets on the official event website. To arrange a meeting with the LQWD Technologies team, please reach out to [email protected].

Website: www.lqwdtech.com
Twitter: @LQWDTech

Forward-Looking Statements

This press release contains “forward-looking information” within the meaning of applicable securities laws relating to the Company’s business plans and the outlook of the Company’s industry. Although the Company believes, considering the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this press release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws. 

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

 

 

 

SOURCE LQWD Technologies Corp.

 

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Bitcoin

GoMining Reveals Cutting-Edge North NFT Collection

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Leveraging its vast experience since 2017, GoMining is leading the way in bitcoin mining, providing users with an effortless and user-friendly service. Now the company has introduced the so-called North Collection.

The company’s NFT collections provide daily bitcoin rewards to holders, with their substantial fleet of real equipment installed across the globe. Continuing their successful streak after the highly acclaimed East NFT Collection, this latest release marks the next installment in a series of crypto art devoted to various regions. GoMining’s fresh North NFT Collection draws inspiration from three key references: the critical role of low temperatures in mining device operations, the restraint and resilience found in northern regions, and the empowering force driving their endeavors. These references served as the foundation for the collection’s captivating images, reflecting the core principles behind GoMining’s innovative approach to bitcoin mining.

GoMining’s new NFT series is issued on the Binance Smart Chain, utilizing the BEP-20 standard for seamless integration and accessibility. With an impressive energy efficiency rating of 35 W/TH, these NFTs ensure the quickest payback period for holders. Moreover, the NFTs offer a diverse range of computing power options, spanning from 1 to 128 TH/s, accommodating various mining requirements and preferences.

In just over two years, GoMining has achieved remarkable growth. The platform has distributed more than 2,000 BTC to holders, issued 20,000 NFTs, and elevated its overall hash power from 100,000 TH/s to an astounding 2,359,877 TH/s. This exponential progress showcases the project’s resounding success and commitment to innovation in the cryptocurrency and NFT space.

As per GoMining’s CEO Mark Zalan, the company is doing everything to offer a broad variety of options to its holders, proving its sustainability and transparent approach. “We’ve been in operation for over two years providing consistent rewards for our holders daily. All of our efforts are aimed at showing tangible infrastructure behind the product – in this case real equipment with data centers in different regions like Norway.”

GoMining remains dedicated to introducing updated versions of its NFTs, originally crafted to provide easier access to bitcoin mining. All NFT collections, such as the renowned collaboration with MMA star Khabib Nurmagomedov, combine visually stunning designs with real equipment-generated computing power, offering continuous mining rewards to their owners.

The new North collection is available here.

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New study reveals the cryptocoins that the US wants to sell the most

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A new study has revealed the cryptocoins Americans want to sell the most, with Bitcoin taking the top spot.

The research was conducted by crypto gambling experts at cryptogambling.tv, who analyzed Google Trends data to establish the cryptocurrencies the US wants to sell the most out of the 24 largest cryptocurrencies by market cap, giving an average weekly search volume for the interest in selling each cryptocoin.

The study revealed that Bitcoin has the highest number of searches from Americans looking to sell this cryptocurrency. Searches to ‘sell bitcoin’ were the highest at the end of July in the United States and worldwide.

Many factors might sway someone to sell their Bitcoin, with the main reason being the current financial and economic strain many countries in the world are facing, prompting people to tap out and cut their losses. Last year the price of the cryptocoin dropped below $16,000, which highlights its downfall tremendously, and with Bitcoin’s value being based purely on speculation, it can be challenging for those who don’t know whether or not to stick with it. 

Ethereum is the second cryptocoin Americans want to sell the most, with searches for ‘sell Ethereum’ being the highest in September worldwide. Although the currency is known for owning around 20% of the global crypto market, those wanting to invest tend to agree that it is one of the safest long-term coins. The current price of Ethereum is $1,458, and with the cryptocoin shifting its process from PoW to PoS, it’s predicted its supply may reduce.

XRP is the third cryptocoin Americans want to sell the most, as it is predicted that its price will be near $0.198 by the end of this year. XRP runs by RippleNet and is a low-cost coin which is excellent for those who want to begin investing; however, due to the current lawsuit proceedings with the SEC, there is a significant decrease in interest for the currency, which has undoubtedly urged investors to act fast and sell.

The fourth cryptocoin Americans want to sell the most is Dogecoin, which, although it has remained one of the top cryptocurrencies in the industry, is still not a solid investment for many investors. The coin rose over 15,000% over 2021, and for a cryptocoin which was created as a joke when it first began, it has truly exceeded expectations. Many avoid investing in Dogecoin due to its price volatility, no supply limit, and not being as widely accepted as other competing coins; these are reasons why many also want to sell.

Shiba Inu is the fifth cryptocoin that Americans are looking to sell, and while the coin is top-rated, it is advised that those looking to invest should not use it as a long-term investment. The coin is down almost 92% since 2021, but many investors hope it will still go up in time as it is currently at over 589 trillion.

An expert at cryptogambling.tv commented: “The cryptocurrency market is forever fluctuating, and with the increase in economic stress worldwide, it can be an uncertain and nerve-racking time for those hoping to make sound investments in the crypto world.

“This study offers an interesting insight into which cryptocoins Americans currently want to sell, with Bitcoin being the most popular to sell.” 

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