Ethereum’s Blockchain Reaching 3GB in Size Already

With Bitcoin’s blockchain data files already over 50 GB in size and Litecoin’s blockhcain size approaching 7 GB there are some concerns rising about the rapidly growing in size blockchain of Ethereum. While BTC and LTC are already a few years old and established and used crypto currencies, Ethereum is still fairly new and in just little over 3 and a half months the blockchain size has already reached 2.9 GB in size. Now, imagine what will happen in a few years of use with the adoption rate and numbers of transactions increasing… it could easily catch up to the size of the Bitcoin’s blockchain. In fact the amount of data that the blockchains of crypto currencies take is starting to become an issue for everyone that is running a full local node and things will get worse as crypto currencies will need more and more space to store the data on your hard drive. This will make online wallet services and light wallets more attractive, but we do still need a lot of full nodes running in order to secure the network of any crypto currency. So not only the matter about the block size for Bitcoin should be discussed, but also the matter about the total blockchain size and that goes for other crypto currencies as well. It is even more of an issue with crypto currencies such as Ethereum that have faster block times, making them generate more blocks in less time.

Scam Alert – Coinspace

A reader wrote in to CCN, concerned about what is an obvious scam to a veteran Bitcoiner, but might actually rope new folks in with ease. The concerned reader wrote: Basically they are building a pyramid scheme (sorry, I mean binary member system), where you can buy in and get some hashing power from their cloud mining service. Also they claim, that they will release a new cryptocurrency (S-Coin), which only they will be mining. More absurdly - when the coin comes out, they claim that it will have a value of 1€ and after some time even more. Also […]

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Washington Consumer Alert About Bitcoin Investing Misses The Mark

The Washington State Department of Financial Institutions (DFI) has warned consumers about investing in bitcoin and digital currency, along with marijuana and binary contract investments. The notice has been posted on the department’s “news and alerts” section and is titled, “Beware of the Next Big Investment.” Marijuana, binary options and digital currency have recently emerged as investments that buyers and sellers hope will be “the next big thing,” the alert notes. The notice addresses bitcoin after first describing the other two investments and devotes significantly less information about bitcoin and digital currency. Consumer Media Reports The Alert The notice might […]

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UK Chancellor Sees a Big Future for Digital Currencies

UK Chancellor George Osborne who has previously declared his intention to explore digital currencies like Bitcoin has now reiterated his stance during a recent conference in London. The UK’s Chancellor of the Exchequer, George Osborne spoke about digital currencies at the Bank of England’s Open Forum conference. The Chancellor reiterated the UK Treasury’s recent stance of welcoming Fintech investment and opening the doors for the UK to be a major destination for new financial technology. As reported by The Financial Times, Osborne said: I want the U.K. to be the global center of fintech. We will go out of our […]

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Cyborgs Are Coming! Biohackers Implant LEDs Under The Skin

Fitness bracelets and Apple Watches are passé. Tattoos that shine LED lights from implanted computer chips are the new thing, courtesy of biohackers. 

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Bitcoin Price Returns From Altitude

Bitcoin price made reentry last night and bounced at $300 and 1800 CNY after trading at almost double those prices less than a week ago. How low could it go? This analysis is provided by xbt.social with a 3-hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis Time of analysis: 15h27 UTC BTC-China 4-Hour Chart From the analysis pages of xbt.social, earlier today: A massive move lower came as a shock - not because it declined - but because it did so without clear signaling […]

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Microsoft Launches Ethereum-Powered Blockchain Platform

With its partnership with software production studio ConsenSys, Microsoft has launched an enterprise solution in the form an ethereum-powered blockchain. The platform will be available to customers of Microsoft’s cloud-based platform – Azure. Computing behemoth Microsoft has confirmed the launch of its previously announced cloud-based blockchain platform. With the reveal, Microsoft now notes the new technology will specifically help financial institutions with tools to experiment with blockchain technology on its Azure platform. The news was revealed during the currently ongoing DevCon conference put together by Ethereum in London, reports Reuters. The Redmond giant also revealed that four global financial institutions […]

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