Bitcoin Cash prepares for upgrade: nChain on 32MB blocks

Bitcoin Cash prepares for upgrade: nChain on 32MB blocks, OP_Code resurrection for smart contracts

nChain likes big blocks and they cannot lie.

May 15 is a big day for Bitcoin Cash supporters as the community prepares for the first of a series of big upgrades for the blockchain. The upcoming hard fork will trigger the following upgrades:
• Increasing the size of blocks on the Bitcoin Cash blockchain from 8MB to 32MB;
• Restoring certain OP_Codes for advanced functionality; and
• Increasing OP_Return data carrier limit to 223 bytes.

The 32Mb increase in block size will supposedly enable a capacity of 100 transactions per second, or 8.64 million transactions per day. This is a precursor to the Terab project’s long-term goal of scaling to 1 terabyte blocks—which would theoretically bring in 7 million transactions per second, or a whopping 604.8 billion transactions per day.

In a press release, Jimmy Nguyen, CEO of leading blockchain R&D company, nChain, comments:

“Increasing the Bitcoin Cash block size from 8MB to 32MB begins to ignite the true power of the BCH network, significantly increasing throughput capacity, in terms of the number of transactions that can fit into each block.It will also keep transaction fees very low – and thus ensure the BCH network has capacity to operate efficiently as usage continues to increase as the global peer-to-peer electronic cash. After this May 2018 upgrade, expect more steps toward massive on-chain scaling of the Bitcoin Cash network. We envision a future with massive block of 1 gigabyte (1000 MBs), and even 1 terabyte (1 million MBs), to achieve a powerful BCH data network that will re-invent how global business is done.”

Reinstating previously deactivated OP_Codes from the original code of Bitcoin, according to Nguyen, has huge implications for Bitcoin Cash as it unleashes smart contract and tokenisation capabilities that would bring Bitcoin Cash on the forefront of the industry.

“The second key upgrade is restoring certain OP_codes that had been deactivated in the Bitcoin script language.  These OP_codes are being brought back to Bitcoin Cash to enable the ability for tokenisation and smart contract execution on the BCH network.  This will be a game-changer in the cryptocurrency space because it makes Bitcoin Cash the clear leader, with the ability to do all in one coin-efficient payments and advanced technical functions such as tokenisation and smart contracts – what many other coins and blockchains separately claim to do.  We at nChain and other groups have already been working on new tokenisation solutions to implement on Bitcoin Cash.”

The press release also states that the upgrades will enable Bitcoin Cash to do what Ethereum does.

“The restoring of certain OP_codes in the Bitcoin scripting language will bring advanced technical functionality to the Bitcoin Cash network. In computing, operating codes are the section of automated language which dictates what operation must be performed. The restored OP_codes will enable tokenisation and smart contracts to be executed on the BCH blockchain.  More advanced functions will be possible with future upgrades to the Bitcoin Cash network.

Tokenisation – of financial instruments, assets, rewards, or for Initial Coin Offering (ICO) purposes – and the ability to make use of smart contracts, means that Bitcoin Cash can be used to do anything that other blockchains such as Ethereum, can do. Bitcoin Cash is already a superior payment system, because it is fast, low-fee and allows borderless transactions to anywhere in the world. With these additional technical capabilities, Bitcoin Cash can be the all-in-one coin.”

Given these improvements, Nguyen says it’s a win overall. “These changes will make BCH faster, stronger and more powerful. Win, win, win,” Nguyen says. Using a bit of wordplay, he adds: “Bigger blocks are the only way to make Bitcoin a viable payment option for daily transacting. That is why, here at nChain, we like big blocks and we cannot lie!”

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
What's the second Bitcoin Cash capacity upgrade all about?

What’s the second Bitcoin Cash capacity upgrade all about?

Another major upgrade for Bitcoin Cash (BCH) is scheduled to take place on May 15. This update is a substantial step forward for the cryptocurrency, and will introduce features that are designed to make the BCH blockchain more robust and help the network process more transactions than BTC.

The hard fork was first announced in November. It will raise BCH’s block size from 8MB to 32MB, greatly increasing the number of transactions allowable per block. It will also increase the “OP_RETURN” field from 80 to 220 bytes, allowing users to store data on the blockchain. This function paves way for use cases like time-stamping, rights management or asset creation.

In addition to introducing new features, some old ones will be making a comeback. Some types of smart contracts, removed previously over concerns that they could allow the blockchain to be hacked, will be reintroduced. Steve Shadders, a developer for nChain, said in a blog post, “Essentially out of an abundance of caution and lack of time to fully explore and fix the edge cases that needed to be addressed, the decision was taken to simply disable any opcodes around which there were doubts or even hints of doubts.”

It would appear that BTC developer Johnson Lau recommended the same types of smart contracts for the BTC network in February. BCH has now beaten BTC to the punch, and the inclusion of these features will make BCH much more versatile than BTC. BCH will only introduce a few of the smart contract types that were previously removed, as some still have the potential to be a weak link in the blockchain.

These are just a few items in the list of changes included in the network upgrade, which have been accepted by virtually the entire BCH community, making it an almost completely agreed upon upgrade. But the May capacity upgrade is only one of several that have potentially been slated for this year. The community will see another one in November that would introduce even more features.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
Countdown begins for inaugural CoinGeek Conference in Hong Kong

Countdown begins for inaugural CoinGeek Conference in Hong Kong

The past couple of weeks have seen some incredibly positive movement in the cryptocurrency world, and Bitcoin Cash’s (BCH) value has almost doubled in this time. The increase, anticipated by many, shows the importance of the cryptocurrency to the industry and lends additional credence to the belief that BCH is the true remaining Bitcoin as envisioned by the Satoshi Nakamoto white paper. There are many reasons that have contributed to the rise in Bitcoin BCH value, and CoinGeek’s upcoming conference is the perfect venue to learn more about the cryptocurrency, as well as learn about how important it is for the future of eCommerce.

The conference will be held on May 18 at the Four Seasons hotel in Hong Kong. The one-day event will bring together the best of the cryptocurrency world and will provide a wealth of knowledge to merchants, enthusiasts and investors. Not only is it the place to be to learn about the future of BCH, but it is also the perfect location to network, create new alliances and to possibly expand business operations.

Some of the speakers that will be providing their cryptocurrency expertise include Bitcoin.com owner Roger Ver, nChain chief scientist Dr. Craig Wright and nChain CEO Jimmy Nguyen. The informative event will also see participation by Ryan X. Charles, co-founder and CEO of Yours.org, and SBI’s Chief Strategy Officer Jerry Chan, among others. Never have so many great cryptocurrency minds been brought together under one roof, and 2018 is shaping up to be the year that BCH pushes ahead. This conference is one you don’t want to miss!

With its lower fees, faster transactions and global acceptance, Bitcoin BCH is poised to completely change the cryptocurrency landscape. The CoinGeek Conference is poised to be a game-changer for merchant adoption and BCH education, with a great number of eCommerce specialists already signed up to attend.

There is limited attendance availability for this unique, industry-leading conference, and there aren’t many tickets remaining. An after-party courtesy of CoinGeek owner Calvin Ayre will follow the CoinGeek Conference. For anyone in the game, or looking to get involved, investing in this event can have incredibly lucrative rewards.

Registration for the conference is now open with a 50% discount for those paying in BCH, but credit card payments are also welcome.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
'First of a kind' CoinGeek Conference joins dots between Bitcoin BCH

‘First of a kind’ CoinGeek Conference joins dots between Bitcoin BCH, bCommerce

The date for the inaugural CoinGeek Conference is fast approaching, and Jimmy Nguyen, CEO of the nChain Group—one of the influential tech groups leading the development of Bitcoin Cash (BCH)—will be on hand at the event to kick things off with a discussion why eCommerce is poised to become BCommerce (Bitcoin commerce).

Bitcoin Cash has been making waves since it was introduced in August 2017, and not just as an investment mechanism, but as a legitimate payment option with fast transactions, extremely low fees and reliability. To keep things moving forward, it’s time for the development of better merchant solutions, better cryptocurrency wallets and better technology. These are just some of the topics that will be addressed by the best cryptocurrency minds at the inaugural CoinGeek Conference.

In addition to being a place to learn about the evolving world of BCH and eCommerce, the one-day conference is also the ideal location to network with others in the industry, find new partners and help to drive business. In Nguyen’s words, “the biggest and brightest minds” will be on hand, including Bitcoin.com owner Roger Ver, Bitmain CEO Jihan Wu and nChain Chief Scientist Dr. Craig Wright, along with an extensive list of other crypto and technical experts.

Some of the topics to be discussed include Bitcoin BCH technical visions, how to overcome technical hurdles and the growth of BCH adoption around the world. This is certainly gearing up to be an incredible conference with a lot of fun events, an exceptional after party and the “most fun you will ever have in Bitcoin.”

This inaugural CoinGeek conference will be held at the Four Seasons Hotel in the heart of Hong Kong’s central district. Twelve different sessions are scheduled for the conference, followed by an after-party courtesy of Calvin Ayre, founder and owner of CoinGeek.com, who said “Bitcoin Cash is a movement.” The incredible event will be an eye-opener for merchant adoption and BCH education, and is the one cryptocurrency conference worth attending this year.

Space for the exclusive event is limited and advanced ticket purchase is required. Don’t wait—find out how you can integrate blockchain into your business by registering for the CoinGeek.com Conference today.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
Developer's toolkit for Bitcoin Cash continues to grow

Developer’s toolkit for Bitcoin Cash continues to grow

The Bitcoin Cash (BCH) community has seen increasing development activity in recent months, coinciding with rapid development in the technical infrastructure underpinning BCH—the true remaining Bitcoin as envisioned by the Satoshi Nakamoto whitepaper.

The cryptocurrency has already attracted significant interest from wallet providers and exchanges, with numerous other developers working on their own unique protocols derived from the BCH blockchain.

We’ve listed five new, unique development tools available for BCH developers, providing a framework for programmers to contribute their own ideas to developing the BCH ecosystem.

Nakasendo
Early this week, nChain—one of the influential tech groups leading the development of BCH—launched version 1.0 of its Nakasendo software development kit (SDK).

The SDK provides a cryptographic library that will enable more flexible key generation and sharing. The library incorporates nChain’s two patent-pending assets: deterministic key generation and secure split key technique. These two assets will help ensure the security of private keys and digital wallets as a whole, protecting users and businesses from potential Mt. Gox-like attacks.

Nakasendo is available for free usage on Bitcoin Cash blockchain under the nChain Open Bitcoin Cash License. The SDK, however, can be used on any blockchain—or even any type of digital wallet, product, application, where access to a digital asset, resource or communication is needed, according to nChain Group CEO Jimmy Nguyen.

Coinbase CashAddr support for Ruby apps

On Tuesday, Coinbase engineer Josh Ellithorpe announced on Twitter the launch of his open source project, which is a Bitcoin Cash CashAddr library for the Ruby coding language.

The project describes itself as a “library to convert between base58 and CashAddr BCH addresses,” essentially making it easier for Ruby software developers to implement the CashAddr format. CashAddr is a serialization protocol for naming addresses within the Bitcoin Cash network makes the addresses distinctively recognizable, and, in the process, helps avoid human errors as well as provide extensions for future functionalities currently being developed for the network.

Flowee

Flowee provides an interface between the BCH network and external apps, via its simple API. The technology allows for interactions between applications and the Bitcoin BCH blockchain, providing the rails for developers to bring their ideas to BCH.

The Flowee team describes their technology as ‘the lowest level of the stack’, which powers top-level applications that interact with the BCH blockchain, saying: “In the hub, we process all those bitcoin data structures and as such, this is the lowest level of the stack where end-user bitcoin applications make the top-level of the stack.”

The open source project’s hub offers a network-based API that enables “fast processing of huge amounts of data in a bi-directional manner.”

“A quick example is that a tool can connect to the Hub and subscribe to a specific bitcoin address. The connection stays open and when a payment comes in for that address the hub will send a notification to the user,” according to the Flowee website.

BitBox

An alternative to Flowee in providing the essential building blocks for BCH applications is BitBox. BitBox allows developers to create applications in single commands, with dozens of different utility methods at developers’ disposal.

It allows anyone to simply create their own BCH blockchain, for development, testing and experimentation, as well as providing an effective mechanism for building blockchain apps.

According to their introductory text, “the command line utility lets you quickly stub out an application with web bindings and tests as well as a console with the entire BCH RPC available.

“Your own Bitcoin Cash blockchain to configure however you choose. This blockchain is created from scratch each time you start Bitbox. It doesn’t connect to the real network and only consists of transactions and blocks which you create locally so it’s quick and responsive. Execute commands from the command line and client/server.”

bitcoin.J.cash Protocol

Created by a fork from the original bitcoin.j protocol, bitcoin.J.cash allows developers to write code compatible with the web and HTML, in what is fast becoming one of the favoured methods of developing for BCH.

The codebase is easy to use, and allows for a sandbox wallet for both send and receive, without requiring a full node implementation. As such, it’s arguably the most lightweight method of developing applications for the technology.

The library’s readme text was quoted by news.bitcoin.com saying: “This project implements Bitcoin Cash signature algorithm. It is based on bitcoin.j and forked from PR-1422.”

Note: Tokens in the SegWit chain are referred to as SegWit-Coin BTC (inaccurately called Bitcoin Legacy or Core by many) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
nChain Nakasendo steers Bitcoin BCH devs through ‘mountains of blockchain work’

nChain Nakasendo steers Bitcoin BCH devs through ‘mountains of blockchain work’

In a bid to help application developers navigate the complexities of blockchain development, nChain—one of the influential tech groups leading the development of Bitcoin Cash (BCH)—has rolled out version 1.0 of its new Nakasendo software development kit (SDK).

Through Nakasendo, which literally means “central mountain route,” nChain will provide software libraries that will help speed up developers’ work to make blockchain technologies that can be used by major enterprises around the world.

Version 1.0 provides a cryptographic library, paving the way for more flexible key generation and sharing. The library incorporates nChain’s two patent-pending assets: deterministic key generation, which employs a more complex “shuffling” of both the private and public keys of the users involved in a transaction; and secure split key technique, a mechanism that uses “Shamir’s secret sharing scheme,” in which a key is divided into parts and distributed to different parties—and will not work unless combined.

Combined, these two assets will help ensure the security of private keys and digital wallets as a whole, protecting users and businesses from being “Goxxed” again.

The Nakasendo SDK can be used on any blockchain—or even any type of digital wallet, product, application, where access to a digital asset, resource or communication is needed, according to nChain Group CEO Jimmy Nguyen.

The SDK is available for use under the newly-created nChain Open Bitcoin Cash License, but only for users to create software or applications that operate on the Bitcoin Cash blockchain.

The nChain Open Bitcoin Cash License, modelled after the Microsoft Limited Public License, allows royalty-free usage of copyrights to software in the SDK libraries, and any associated patents that read directly on such software. Just like Microsoft’s Limited Public License has a platform limitation for free usage, nChain said its Open Bitcoin Cash License limits free usage to the Bitcoin Cash blockchain.

“We are making it available for free usage only on the BCH blockchain specifically to help the growth of Bitcoin Cash,” said Nguyen. “Although the SDK libraries will be useful for developers on any blockchain or digital platform, we want to use key elements of nChain’s patent portfolio to help benefit the Bitcoin Cash ecosystem. That is why we are providing the SDK for free usage only for applications and products that operate on the Bitcoin Cash (BCH) blockchain.  The SDK is one of many tools nChain will use to ignite the BCH blockchain, and help re-invent the business world.”

The Nakasendo SDK is currently available to selected partners in an initial testing pool, and will be rolled out “more publicly” at a later time.

Note: Tokens in the SegWit chain are referred to as SegWit-Coin BTC (inaccurately called Bitcoin Legacy or Core by many) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
nChain CEO Jimmy Nguyen: Philippines is the perfect market for virtual currency

nChain CEO Jimmy Nguyen: Philippines is the perfect market for virtual currency

Nguyen says there’s work to do, but that the BSP is doing right in creating sensible regulation to improve consumer confidence. 

In an interview with Bloomberg TV Philippines, nChain CEO Jimmy Nguyen gave insights on the blockchain and cryptocurrency development in the country and how it can impact overseas remittances. According to Nguyen, the country is in the early stages of cryptocurrency adoption, but is on the right path.

“I think the Philippines is in the early stages of adopting cryptocurrencies generally—and blockchain technology,” Nguyen said, adding however that there aren’t a lot of cryptocurrency exchanges in the country to help citizens participate in the new economy.

“I think it is headed in the right direction. This is the perfect market for virtual currency.”

The Philippine economy benefits highly from overseas foreign workers (OFWs) sending money back to their families in the country. Last year, the World Bank estimated that OFW remittances to the Philippines would hit almost $33 billion, bumping the archipelago up as the third biggest remittance-receiving country behind India and China. Nguyen, says the country’s remittance activities can be made better.

“Remittance and wire transfers could be much cheaper and more efficient. And that’s important to the Philippines.” Nguyen, whose company nChain is helping develop Bitcoin Cash (BCH) for cheap and fast transactions, went on to explain the value of BCH in comparison to BTC for daily transactions due to its usability, despite the former only having existed for only eight months.

As was the global trend, several scammers took advantage of the advent of blockchain technology to pull off Ponzi schemes and other cons, prompting the country’s central bank, Bangko Sentral ng Pilipinas (BSP) and the SEC to issue warnings to the public, along with a set of guidelines for businesses planning to open up exchanges in the country. The BSP has also been in talks with some industry players in the Philippines to help gain better understanding of the technology.

Nguyen commends the BSP’s openness despite the risks.

“I know the BSP issued some guidelines recently to warn people to be careful about investing in virtual currency. In addition to recognizing the risks, it recognized the value for a country like the Philippines.”

He adds that regulation would actually be good for cryptocurrencies. “I think, first of all, it’s a good step for the government to begin sensible regulations for virtual currencies. Some people in the Bitcoin world don’t like that. I, particularly because I’m a former lawyer, think regulation can be a good thing and create more consumer confidence,” Nguyen said.

In terms of the PHP 150 million ($2.9 million) minimum capital requirement imposed by the government on digital wallet operators, Nguyen thinks it’s quite low but “it’s a start.”

“That capital requirement is fairly low, but we are dealing with people’s money. I think it’s important to require the wallet operators and the exchange operators to have backing so that we avoid situations like in Japan—with the Mt Gox hack a number of years ago and a lot of people lost their bitcoin and didn’t have recourse against the company,” Nguyen explained.

“So I think that’s probably a start and over time, as the exchanges and wallets get bigger, they’ll probably raise the capital requirement. I think that’s a sensible step,” he added.

Watch the interview below:

Note: Tokens in the SegWit chain are referred to as SegWit-Coin BTC (inaccurately called Bitcoin Legacy or Core by many) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
‘Selfish mining’ not a valid issue

‘Selfish mining’ not a valid issue, Dr. Craig S. Wright says

Even users are calling for a cease-fire on this non-issue.

Recently, a few media online threads resurrected the issue of “selfish mining” as a viable attack on the Bitcoin network, reigniting an online debate in the blockchain community. In a paper published in 2013, Ittay Eyal and Emin Gün Sirer outlined an attack called selfish mining which can be used to either game the system so those who exploit the vulnerability can supposedly earn more than what they should under the normal mining mechanism, and later influence other honest miners to do the same.

Selfish mining, they describe, can be instigated by a miner that holds 33% of the overall network hash rate, and therefore finds blocks earlier than the usual block time (10 minutes). He then decides to hold off on transmitting a block to other miners so he can get a head start in mining the next one and has a better chance at getting that reward as well, supposedly securing two blocks’ worth of revenue for himself.

To put this matter to the grave, nChain chief scientist Dr. Craig S. Wright, published counter-arguments explaining why the selfish mining FUD is a mathematically flawed fallacy, particularly because (1) the economics work against anyone who would choose to do it, and (2) in order to keep doing this, not only does it require a lot of investment while incurring massive profit losses—it also requires that all other miners be stupid and oblivious to something that is so easy to detect and takes very little effort to shut down.

First, this only works if the selfish miner (SM) wins at mining both the first hidden block and the next one before any honest miners (HM) find the first one which he withheld. Otherwise, he will then have to race against the honest miners in propagating that first withheld block and can ultimately forfeit his profit. If he loses this way, any blocks he mined after the one he withheld is orphaned, meaning the blockchain has rejected and abandoned it and the rest of the blockchain has been continued on top of a different block mined in the same time frame.

According to Dr. Wright, the SM’s orphan rate gets higher in the long-term, and the losses rise at a short period of time. He adds that the SM’s profit model looks as follows:

‘Selfish mining’ not a valid issue, Dr. Craig S. Wright says

Even in a case where all honest miners are stupid, not noticing or even intentionally ignoring the selfish miner’s actions, the math still works against the selfish miner. A selfish miner gambles against the rest of the network, betting that no other miners will mine the block he withheld before he finally transmits the data. If he loses, the block he withheld gets orphaned and he needs to start again, effectively forfeiting the profit he would have made if he opted for honest mining instead.

Selfish miners incur a large amount of loss not only for themselves but for the whole network—which honest miners can very easily detect and probably retaliate against by blacklisting the offending miners’ IP addresses.

Wright concludes that selfish mining is a non-issue as it is, in fact, more effective to attack or corrupt the bitcoin network using the traditional mining method—which in itself is already quite difficult to instigate.

“I’ll say that again; the honest mining strategy is more effective than the selfish mining strategy even in attacking the bitcoin network,” Wright wrote.

“The reality of the scenario is that there is no place for selfish mining. No sane individual or corporation would spend money for the sake of spending money when even given the direct goal of damaging the network; they could achieve this for far lower capital expense.”

Wright is not alone in thinking the selfish mining issue is a non-issue. A few users made their own analysis and think the community should just move on to other real issues. Reddit user Rolling_Civ posted a thread titled, “The selfish mining debate: toxic and unnecessary,” saying this all stemmed from nothing more than a misunderstanding between developers. Others are also calling for a cease-fire, saying the community should focus on actual issues.

“I want to conclude by saying this thing is a huge distraction and we should focus on more important things for Bitcoin Cash. We’re currently lagging behind other coins and this is a reality that we need to focus on,” Reddit user MobTwo wrote.

Note: Tokens in the SegWit chain are referred to as SegWit-Coin BTC (inaccurately called Bitcoin Legacy or Core by many) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
nChain obtains patent to enable video

nChain obtains patent to enable video, music streaming services, smart contracts on blockchain

CEO Jimmy Nguyen says the key IP assets invented by nChain will be free for use within the Bitcoin Cash community.

nChain, one of the leading development teams for Bitcoin Cash, has secured its first approved patent granted by the European Patent Office (EPO) today. The invention, led by nChain chief scientist Dr. Craig S. Wright, will enable the deployment of mainstream services and applications on blockchains—video and music streaming services, and other applications requiring data transfer.

The method, “Registry and Automated Management Method for Blockchain-Enforced Smart Contracts,” as its title implies, comes in very handy for digital rights management and auto-renewing contracts on any blockchain. nChain CEO Jimmy Nguyen says the patent approval is a historical moment for the company, one that will be followed by many more.

“This first patent grant by the European Patent Office marks a major milestone in nChain’s ambitious research and patent program, which started approximately two years ago.  We expect this will be the first of many more patents to come, as our portfolio of blockchain patent applications is among the largest – if not the largest – in the world.”

This isn’t the first and only patent nChain has filed within the past year. The company has been continuously building up its arsenal of tools to accelerate development and adoption for blockchain technology. Just last year, they released a set of “anti-Goxxing” mechanisms called deterministic key generation and the secure split key technique, which would enforce a higher level of security for any digital data and ultimately help blockchain technology gain business and consumer confidence.

Nguyen says they are determined to deliver the benefits of blockchain technology through Bitcoin Cash, and to do so, he says the company’s key inventions will be open for all to use and develop within the Bitcoin Cash community, facilitating rapid, massive merchant adoption for the Bitcoin Cash blockchain.

“While we are building enterprise value through our patent portfolio, nChain is committed to using our intellectual property to benefit the Bitcoin Cash community.  We intend to make key IP assets available for free usage only on the Bitcoin Cash blockchain – through our new ‘nChain Open Bitcoin Cash License.’  This will give Bitcoin Cash significant advantages over other blockchains, and will incentivize businesses to operate on the BCH blockchain, which represents the original vision of Bitcoin,” Nguyen said.

Note: Tokens in the SegWit chain are referred to as SegWit-Coin BTC (inaccurately called Bitcoin Legacy or Core by many) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
Top names in crypto space toast to Bitcoin BCH in nChain exclusive party

Top names in crypto space toast to Bitcoin BCH in nChain exclusive party

Blockchain technology research and development specialist nChain Group gathered the brilliant minds of cryptocurrency as well as supporters of Bitcoin Cash in Tokyo, Japan, recently for an exclusive dinner party.

The group who were in town for the Satoshi’s Vision Conference, which was organized by Bitcoin Unlimited, were composed of the top names and thought leaders within the cryptocurrency space. nChain Group’s very own Chief Scientist Dr. Craig Steven Wright was in attendance together with Bitcoin.com CEO  Roger Ver and CoinGeek owner Calvin Ayre.

The night was also a celebration of the synergy and collaboration among Bitcoin groups who continue to work for the growth and development of Bitcoin Cash, the only Bitcoin that remains true to the Satoshi Nakamoto white paper.

nChain Group CEO Jimmy Nguyen thanked  the guests for supporting Satoshi Nakamoto’s vision for Bitcoin and proposed a toast to the thriving Bitcoin Cash.

Incidentally, Nguyen will also serve as the host of the upcoming CoinGeek Conference on May 18. The one-day event will take place at the Four Seasons Hotel in Hong Kong, featuring presentations and panel discussions by focusing on merchant adoption as well as the integration of Bitcoin Cash and blockchain technology into various areas of businesses.

The upcoming conference, which is also hosting an after-party courtesy of CoinGeek.com owner Calvin Ayre, is shaping up to be a landmark in merchant adoption and education in the benefits of Bitcoin BCH, which features bigger blocks, faster speed, and lower transaction fees.

Note: Tokens in the SegWit chain are referred to as SegWit-Coin BTC (inaccurately called Bitcoin Legacy or Core by many) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

source: https://coingeek.com/top-names-crypto-space-toast-bitcoin-bch-nchain-exclusive-party-video/