Home Bitcoin Bitcoin News Summary – May 18, 2020

Bitcoin News Summary – May 18, 2020

5 min read

As you in all probability heard, the Bitcoin halving occurred on Monday. F2Pool mined the final block earlier than the reward was halved; block quantity 629,999. F2Pool additionally embedded a message into the block referencing a newspaper headline, just like the one Satoshi embedded in Bitcoin’s first-ever block.

Major US funding financial institution, JP Morgan Chase, is providing banking providers to each Gemini and Coinbase crypto exchanges. The information stunned many, provided that the financial institution’s CEO, Jamie Dimon, made public statements in 2017 claiming Bitcoin to be “a fraud that will blow up,” and “only fit for use by drug dealers, murderers, and people living in North Korea.”

The Reddit link-sharing and dialogue platform, with an estimated 330 million customers, is set to launch its personal crypto tokens. Users will earn tokens, often called Community Points, for interacting with the location. These tokens will enable customers to purchase entry to sure website options and features. The CP token will run on the Ethereum community. While incentivizing engagement utilizing crypto is definitely not a brand new thought, Reddit’s huge attain will serve to introduce many new customers to cryptocurrency.

The firm behind the favored encrypted messaging app Telegram introduced that it will likely be ceasing all energetic involvement with the TON blockchain. This got here after a protracted battle with the US Securities and Exchange Commission that sought to halt it as an unregistered securities sale.

Before we conclude, this week’s “Bitcoin quick question” is what’s the incentive for working a Bitcoin node?

A Bitcoin node is a time period for a pc that holds an entire copy of the Bitcoin blockchain. Meaning it has information of each Bitcoin transaction ever made. The extra nodes working around the globe the more durable it’s to close down Bitcoin. Think of it this manner – as a way to actually destroy Bitcoin it is advisable destroy all information of all transactions ever made, so extra nodes means a extra sturdy Bitcoin community.

However, there’s no financial incentive to working a Bitcoin node. Unlike Bitcoin mining, in case you run a node your solely incentive is to be sure you’re not counting on any third occasion to make use of the Bitcoin community and in doing so that you’re contributing to the community’s power.

Today there are practically 8400 nodes unfold out around the globe. If you need to see precisely the place they’re, check out the link within the description under.

Have a query you need us to reply? Just go away it within the remark part under. And if you wish to assist our movies, think about using the Brave browser for quicker, advert free searching that may additionally earn you rewards. Just go to the link within the description under.

That’s what’s occurred this week in Bitcoin. See you subsequent week.

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