Seven Japanese Bitcoin Exchanges Announce Bitcoin Gold Hard Fork Plans

Seven Japanese Bitcoin Exchanges Announce Bitcoin Gold Hard Fork Plans

Seven of Japan’s leading bitcoin exchanges have announced their policies regarding the planned Bitcoin Gold hard fork of the Bitcoin network. The country’s largest exchange, Bitflyer, plans to distribute and trade the new cryptocurrency. Some exchanges will only distribute the coins, while others are taking a wait-and-see approach.

Also read: Two South Korean Bitcoin Exchanges Announce Hard Fork Plans

Bitcoin Gold Hard Fork

Seven Japanese Bitcoin Exchanges Announce Bitcoin Gold Hard Fork PlansThe Bitcoin Gold hard fork of the Bitcoin blockchain is expected to take place at block 491,407, which will likely occur on October 25. A new cryptocurrency, bitcoin gold, is expected to emerge from the fork. Over the past few days, major Japanese bitcoin exchanges have announced their plans regarding this hard fork and how they intend to deal with the new cryptocurrency.

Bitflyer

Seven Japanese Bitcoin Exchanges Announce Bitcoin Gold Hard Fork PlansJapan’s largest bitcoin exchange by volume, Bitflyer, announced on Saturday that its customers will be credited with an amount of bitcoin gold corresponding to the amount of bitcoin in their accounts prior to the split. No suspension of service is scheduled. The exchange wrote:

If the BTG [Bitcoin Gold] split is deemed by Bitflyer to be permanent and secure in regards to customer assets, on November 1 (tentative), users will be credited with BTG and purchase and sale of BTG will be made available on Bitflyer.

In addition, the exchange detailed “after sufficient observation of the stability in the BTG chain after the split, BTG deposit and withdrawal services will be made available on Bitflyer.”

Coincheck

Seven Japanese Bitcoin Exchanges Announce Bitcoin Gold Hard Fork PlansCoincheck announced its plans for the Bitcoin Gold hard fork on Thursday. “We are planning to provide bitcoin gold if a Bitcoin Gold split occurs,” the exchange wrote. However, Coincheck explained that there are circumstances where it may not be able to provide the new cryptocurrency, including a lack of adequate replay protection, miner hashpower, or protection from other vulnerabilities. In addition, the coins will not be made available if Coincheck decides that the “listing of bitcoin gold is inappropriate.” Currently, no service suspension has been planned. The exchange wrote:

We are planning to distribute bitcoin gold after we confirmed its security and stability. We haven’t determined the specific date and time yet.

Bitpoint

Seven Japanese Bitcoin Exchanges Announce Bitcoin Gold Hard Fork PlansBitpoint announced on Friday that “bitcoin gold will be given to customers according to the number of coins [they] held at the time of the split.” However, this can be delayed if the new blockchain is unstable or there is a risk of replay attacks, the exchange conveyed. No service suspension has been planned. Bitpoint added:

Regarding the withdrawal and deposit services and the buying and selling of the newly generated bitcoin gold, since the security design of the newly formed blockchain has not been sufficiently confirmed, its handling is undecided at this stage.

GMO Coin

Seven Japanese Bitcoin Exchanges Announce Bitcoin Gold Hard Fork PlansGMO Coin announced on Saturday that bitcoin gold will be granted to customers, but the timing has not been decided. In addition, the exchange will temporarily suspend bitcoin deposits and withdrawals around 20:00 on October 25. Furthermore, GMO Coin stated:

There are no plans to offer services such as buying and selling of bitcoin gold.

Exchanges With No Plans to Distribute

Some exchanges have decided to take a wait-and-see approach.

Zaif
Seven Japanese Bitcoin Exchanges Announce Bitcoin Gold Hard Fork PlansTech Bureau’s Zaif exchange announced on Friday that “we have decided not to grant [access to] BTG, [including] deposits, withdrawals, and transactions at this time.” However, it added that “when all the possibilities of concerns have been resolved, the handling of BTG will be considered at our discretion just like other currencies.”

Furthermore, Zaif stated that it will neither move the new cryptocurrency nor exchange it for other currencies “for purposes other than storage.”

Fisco
Seven Japanese Bitcoin Exchanges Announce Bitcoin Gold Hard Fork PlansFisco made a similar announcement on Saturday that “we are not planning to grant, deposit, withdraw, or trade bitcoin gold (BTG) at this time.” In addition, the exchange warned that “there is a possibility of suspending the deposits and withdrawals of bitcoins (BTC) around October 25, 2017, when the split is expected (in that case we will announce again).”

Bitbank
Seven Japanese Bitcoin Exchanges Announce Bitcoin Gold Hard Fork PlansBitbank announced on Thursday that it will not initially grant bitcoin gold to customers, for several reasons including the incomplete state of Bitcoin Gold’s code. However, the company will take a snapshot of customer assets at the time of the split. The exchange also stated the situation may be “reviewed in the future.”

What do you think of these Japanese exchanges’ policies? Let us know in the comments section below.


Images courtesy of Shutterstock, Bitcoin Gold, Bitflyer, Coincheck, Bitpoint, GMO, Zaif, Fisco, and Bitbank.


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Bitcoin Cash Community Preps Hard Fork Slated for November 13

Bitcoin Cash Community Preps for a Hard Fork Slated for November 13

Over the past few weeks, the discussion regarding fixing the Difficulty Adjustment Algorithm for the Bitcoin Cash network has been a very hot topic. Now according to sources, the protocol’s developers are in the midst of planning a hard fork slated for November 13, 2017.

Also Read: Satoshi Nakamoto Should Be on Forbes’ Rich List

Several Proposals Developed, Coded, and Tested

Bitcoin Cash Community Preps for a Hard Fork Slated for November 13According to Juan Garavaglia of the organization Bitprim.org, bitcoin cash (BCC) developers are currently planning a “smooth hard fork” for November 13. News.Bitcoin.com spoke with Garavaglia briefly about the subject, and he says that developers Amaury Séchet, Tom Harding, and Neil Booth have submitted proposals. Further, Garavaglia is in the midst of testing a variety of “Difficulty Adjustment Algorithms” (DAA). At the moment the current DAA isn’t operating so well for the BCC network.          

“The Bitcoin Cash DAA has served its original purpose quite well, but now the side effects are hurting Bitcoin Cash,” explains Garavaglia.

Several proposals have been developed, coded, and tested. There has been a lot of discussion in developer groups. My team is now testing the best proposals, and there is consensus that the Bitcoin Cash network will receive an upgrade.

Bitcoin Cash Community Preps for a Hard Fork Slated for November 13
Bitprim.org’s Juan Garavaglia.

Bitcoin ABC’s Next Release

Garavaglia details that the fork discussion has been talked about for quite some time, and the timing doesn’t really have anything to do with the approaching Segwit2x fork. “It was always assumed things would be fixed around this time, but really one thing has little to do with the other,” says Garavaglia.     

“Solutions have already been coded and tested — It will be fixed in the next release of Bitcoin ABC, hopefully in the next several days,” Garavaglia adds. “This will allow businesses a few weeks time to upgrade their nodes — At the moment we’re running real nodes and real hashrate on a testnet, using Bitcoin ABC binaries with the modified DAA algo.”  

We are removing and adding extreme amounts of hashpower (such as 95%) and then we observe how the difficulty actually adjusts with the new code. In addition, the individual developers of the new algorithms have performed their own simulations and there are comparisons being run for different scenarios.

‘Everything Does Much Better Than the Current Bitcoin Cash DAA’

Forum discussions across the BCC community seem to favor the DAA upgrade announcement. Most BCC proponents were already onboard with fixing the protocol’s difficulty algorithm, as many individuals profusely expressed the DAA fix was a priority. In fact, Garavaglia says all of the current trial algorithms are better than the current version.     

“So far, everything does much better than the current DAA, and the “turbo blocks” problem is less severe and corrects faster than before — We’re looking forward to continuing our testing during the next several days which will enable Bitcoin ABC to publish their new software version with increased confidence,” Garavaglia concludes.

What do you think about the Bitcoin Cash network preparing to hard fork on November 13? Let us know your thoughts in the comments below.


Images via Shutterstock, the Future of Bitcoin, and Bitcoincash.org


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PR: Quicker, Safer, Cheaper: What Exactly Does Universa Blockchain Present?

Sergey Chernov on Universa Blockchain

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Universa Blockchain introduces an innovative technology, the technical details of which need to be explained, like mostly when it comes to brilliant ideas. Sergey Chernov, the technical director of Universa, answers the questions about Universa Blockchain.

Q-Sergey, how is the high speed of Universa Blockchain possible?
A-First of all, it is possible because the architecture of Universa is special, it has nothing in common with Bitcoin or Ethereum, for example. It was created for saving computing resources of the network and the storage for the ledger. There is no mining in Blockchain, the processes of keeping and performing contracts are taken from the nodes to clients.

Q-In what case can the network overload and slowing of the transactions’ be expected? Do you have a plan of action if that happens?
A-The network overload is possible primarily because of network channels overload and also if the nods platform equipment is not powerful enough. Three stages of upgrading the nodes in the network are provided, while the last stage assumes almost unlimited scaling on capacity. The network is scaled not by increasing the number of nodes but by enhancing each of the nodes, which can have a an arbitrary number of servers for the parallel processing of transactions.

Q-Let’s suppose Blockchain was hacked, access to what information may be gained by a hacker?
A-In this case the hacker will only get information on signatures and their expiration dates for the last blocks in every certified chain and also to the last blocks of chains which have been processed recently or in the last few hours. Chains are not kept on nodes.
If the hacker has broken into the node and is copying the flow, he has an opportunity to reconstruct open chains coming through the system using that flow. No confidential information of a chain reaches the network, as a result it can’t be reached by attacking the nods of the network. At the same time a chain can certify (using the signature) any confidential and/or private information without transmitting it to the nodes of the network.

Q—How do you achieve data security?
A—First of all, it is only open information that is transmitted to network nodes. The issues of storing and exchanging private information between Universa platform clients are not practically regulated in any way – one can even use an USB to exchange information, or use existing data storage and exchange services, such as email, messengers, cloud storage, etc., for these purposes. For identification, we use an extensive set of well proven electronic signatures.
In many countries, such as the United States, France and Russia, there are direct or indirect, obvious and unobvious prohibitions on storage and transmission of information in an encrypted form, which makes it impossible to intercept and disclosure this information behind the owner’s back. In order to avoid problems when operating in these countries, we simply excluded the transfer of such information on the network in general, leaving these questions to the discretion of the client.

Q—What would motivate a user to install a server that will store blockchain?
A— First of all, I would like to note that to install a server, you would need to purchase a license and undergo a strict process of selection and registration. The owner of the node receives a dib, part of the profit from the transactions passing through the system. Moreover, network growth does not increase its productivity and should be limited based on the requirements of trust, reliability and the revenue of the node.

Q— If blockchain stores only hash, then where the information on the contracts content is stored?
A— Clients store their contracts directly, in any convenient way – it could be ordinary folders as well. It could be compared to a notarized document. First, you pay the notary officer for the notarial certification, and then you can use this document for various operations, since the notary seal makes the document legally trusted. Nevertheless, if you lose the document, the notary officer will not be able to replace it, and you will have to receive a document replica from the emitter, or issues body – some service, for example, which has issued it to you in the first place. With blockchain, you can make as many copies of your contract as you wish. It’s perfectly safe as long as you keep your keys safe. Thus, the contracts are stored and reserved by the parties involved, instead of the net. We are implementing a modular approach decreasing expenses and service cost and increasing efficiency. Each service focuses on its function: Universa node – on the verification of the contract and its changes; Universa client software – on the execution of smart contract and related actions. In fact, chains can be stored in quite an easy way even on current cloud stores, such as googledisk , dropbox, CFile and others.

Q- What infrastructure does the user need to work on blockchain?
A-To work on the system the user needs to create a private key, to purchase a contract for maintaining a desired number of transaction units, and to use one of the clients to work with contracts. We also work out a number of tools for clients: GUI for web, Linux, MacOs, Windows, iPhone, Android, Java command line client, API for Java, API for Javascript to work on the browser’s page.

Q- How will a person’s identification be carried out before the execution of transaction?
A— Let me clarify your question. Do you mean identification of a participant, who is not necessarily a person? It might be a program, or a smart contract carrying any operation. The participant of the system is identified with a public key (digital signature), or in some cases with a disposable identifier of his or her key, if the participant doesn’t want to reveal it ahead of time.
If you mean a physical identification of a legal entity or a private individual, than in some countries, including Russia, the participant might have an officially admitted legally binding public key (digital signature). Moreover, we believe that in future there will be created services operating on Universa, which will execute a physical identification of individuals and organizations and will register their keys.

Contact Email Address
ico@artox-media.com
Supporting Link
https://universa.io/

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: Quicker, Safer, Cheaper: What Exactly Does Universa Blockchain Present? appeared first on Bitcoin News.

The post PR: Quicker, Safer, Cheaper: What Exactly Does Universa Blockchain Present? appeared first on bitcoinmining.shop.

The post PR: Quicker, Safer, Cheaper: What Exactly Does Universa Blockchain Present? appeared first on Forex news forex trade.

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PR: Quicker, Safer, Cheaper: What Exactly Does Universa Blockchain Present?

Sergey Chernov on Universa Blockchain

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Universa Blockchain introduces an innovative technology, the technical details of which need to be explained, like mostly when it comes to brilliant ideas. Sergey Chernov, the technical director of Universa, answers the questions about Universa Blockchain.

Q-Sergey, how is the high speed of Universa Blockchain possible?
A-First of all, it is possible because the architecture of Universa is special, it has nothing in common with Bitcoin or Ethereum, for example. It was created for saving computing resources of the network and the storage for the ledger. There is no mining in Blockchain, the processes of keeping and performing contracts are taken from the nodes to clients.

Q-In what case can the network overload and slowing of the transactions’ be expected? Do you have a plan of action if that happens?
A-The network overload is possible primarily because of network channels overload and also if the nods platform equipment is not powerful enough. Three stages of upgrading the nodes in the network are provided, while the last stage assumes almost unlimited scaling on capacity. The network is scaled not by increasing the number of nodes but by enhancing each of the nodes, which can have a an arbitrary number of servers for the parallel processing of transactions.

Q-Let’s suppose Blockchain was hacked, access to what information may be gained by a hacker?
A-In this case the hacker will only get information on signatures and their expiration dates for the last blocks in every certified chain and also to the last blocks of chains which have been processed recently or in the last few hours. Chains are not kept on nodes.
If the hacker has broken into the node and is copying the flow, he has an opportunity to reconstruct open chains coming through the system using that flow. No confidential information of a chain reaches the network, as a result it can’t be reached by attacking the nods of the network. At the same time a chain can certify (using the signature) any confidential and/or private information without transmitting it to the nodes of the network.

Q—How do you achieve data security?
A—First of all, it is only open information that is transmitted to network nodes. The issues of storing and exchanging private information between Universa platform clients are not practically regulated in any way – one can even use an USB to exchange information, or use existing data storage and exchange services, such as email, messengers, cloud storage, etc., for these purposes. For identification, we use an extensive set of well proven electronic signatures.
In many countries, such as the United States, France and Russia, there are direct or indirect, obvious and unobvious prohibitions on storage and transmission of information in an encrypted form, which makes it impossible to intercept and disclosure this information behind the owner’s back. In order to avoid problems when operating in these countries, we simply excluded the transfer of such information on the network in general, leaving these questions to the discretion of the client.

Q—What would motivate a user to install a server that will store blockchain?
A— First of all, I would like to note that to install a server, you would need to purchase a license and undergo a strict process of selection and registration. The owner of the node receives a dib, part of the profit from the transactions passing through the system. Moreover, network growth does not increase its productivity and should be limited based on the requirements of trust, reliability and the revenue of the node.

Q— If blockchain stores only hash, then where the information on the contracts content is stored?
A— Clients store their contracts directly, in any convenient way – it could be ordinary folders as well. It could be compared to a notarized document. First, you pay the notary officer for the notarial certification, and then you can use this document for various operations, since the notary seal makes the document legally trusted. Nevertheless, if you lose the document, the notary officer will not be able to replace it, and you will have to receive a document replica from the emitter, or issues body – some service, for example, which has issued it to you in the first place. With blockchain, you can make as many copies of your contract as you wish. It’s perfectly safe as long as you keep your keys safe. Thus, the contracts are stored and reserved by the parties involved, instead of the net. We are implementing a modular approach decreasing expenses and service cost and increasing efficiency. Each service focuses on its function: Universa node – on the verification of the contract and its changes; Universa client software – on the execution of smart contract and related actions. In fact, chains can be stored in quite an easy way even on current cloud stores, such as googledisk , dropbox, CFile and others.

Q- What infrastructure does the user need to work on blockchain?
A-To work on the system the user needs to create a private key, to purchase a contract for maintaining a desired number of transaction units, and to use one of the clients to work with contracts. We also work out a number of tools for clients: GUI for web, Linux, MacOs, Windows, iPhone, Android, Java command line client, API for Java, API for Javascript to work on the browser’s page.

Q- How will a person’s identification be carried out before the execution of transaction?
A— Let me clarify your question. Do you mean identification of a participant, who is not necessarily a person? It might be a program, or a smart contract carrying any operation. The participant of the system is identified with a public key (digital signature), or in some cases with a disposable identifier of his or her key, if the participant doesn’t want to reveal it ahead of time.
If you mean a physical identification of a legal entity or a private individual, than in some countries, including Russia, the participant might have an officially admitted legally binding public key (digital signature). Moreover, we believe that in future there will be created services operating on Universa, which will execute a physical identification of individuals and organizations and will register their keys.

Contact Email Address
ico@artox-media.com
Supporting Link
https://universa.io/

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: Quicker, Safer, Cheaper: What Exactly Does Universa Blockchain Present? appeared first on Bitcoin News.

The post PR: Quicker, Safer, Cheaper: What Exactly Does Universa Blockchain Present? appeared first on bitcoinmining.shop.

The post PR: Quicker, Safer, Cheaper: What Exactly Does Universa Blockchain Present? appeared first on Forex news forex trade.

Continue Reading

PR: Quicker, Safer, Cheaper: What Exactly Does Universa Blockchain Present?

Sergey Chernov on Universa Blockchain

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Universa Blockchain introduces an innovative technology, the technical details of which need to be explained, like mostly when it comes to brilliant ideas. Sergey Chernov, the technical director of Universa, answers the questions about Universa Blockchain.

Q-Sergey, how is the high speed of Universa Blockchain possible?
A-First of all, it is possible because the architecture of Universa is special, it has nothing in common with Bitcoin or Ethereum, for example. It was created for saving computing resources of the network and the storage for the ledger. There is no mining in Blockchain, the processes of keeping and performing contracts are taken from the nodes to clients.

Q-In what case can the network overload and slowing of the transactions’ be expected? Do you have a plan of action if that happens?
A-The network overload is possible primarily because of network channels overload and also if the nods platform equipment is not powerful enough. Three stages of upgrading the nodes in the network are provided, while the last stage assumes almost unlimited scaling on capacity. The network is scaled not by increasing the number of nodes but by enhancing each of the nodes, which can have a an arbitrary number of servers for the parallel processing of transactions.

Q-Let’s suppose Blockchain was hacked, access to what information may be gained by a hacker?
A-In this case the hacker will only get information on signatures and their expiration dates for the last blocks in every certified chain and also to the last blocks of chains which have been processed recently or in the last few hours. Chains are not kept on nodes.
If the hacker has broken into the node and is copying the flow, he has an opportunity to reconstruct open chains coming through the system using that flow. No confidential information of a chain reaches the network, as a result it can’t be reached by attacking the nods of the network. At the same time a chain can certify (using the signature) any confidential and/or private information without transmitting it to the nodes of the network.

Q—How do you achieve data security?
A—First of all, it is only open information that is transmitted to network nodes. The issues of storing and exchanging private information between Universa platform clients are not practically regulated in any way – one can even use an USB to exchange information, or use existing data storage and exchange services, such as email, messengers, cloud storage, etc., for these purposes. For identification, we use an extensive set of well proven electronic signatures.
In many countries, such as the United States, France and Russia, there are direct or indirect, obvious and unobvious prohibitions on storage and transmission of information in an encrypted form, which makes it impossible to intercept and disclosure this information behind the owner’s back. In order to avoid problems when operating in these countries, we simply excluded the transfer of such information on the network in general, leaving these questions to the discretion of the client.

Q—What would motivate a user to install a server that will store blockchain?
A— First of all, I would like to note that to install a server, you would need to purchase a license and undergo a strict process of selection and registration. The owner of the node receives a dib, part of the profit from the transactions passing through the system. Moreover, network growth does not increase its productivity and should be limited based on the requirements of trust, reliability and the revenue of the node.

Q— If blockchain stores only hash, then where the information on the contracts content is stored?
A— Clients store their contracts directly, in any convenient way – it could be ordinary folders as well. It could be compared to a notarized document. First, you pay the notary officer for the notarial certification, and then you can use this document for various operations, since the notary seal makes the document legally trusted. Nevertheless, if you lose the document, the notary officer will not be able to replace it, and you will have to receive a document replica from the emitter, or issues body – some service, for example, which has issued it to you in the first place. With blockchain, you can make as many copies of your contract as you wish. It’s perfectly safe as long as you keep your keys safe. Thus, the contracts are stored and reserved by the parties involved, instead of the net. We are implementing a modular approach decreasing expenses and service cost and increasing efficiency. Each service focuses on its function: Universa node – on the verification of the contract and its changes; Universa client software – on the execution of smart contract and related actions. In fact, chains can be stored in quite an easy way even on current cloud stores, such as googledisk , dropbox, CFile and others.

Q- What infrastructure does the user need to work on blockchain?
A-To work on the system the user needs to create a private key, to purchase a contract for maintaining a desired number of transaction units, and to use one of the clients to work with contracts. We also work out a number of tools for clients: GUI for web, Linux, MacOs, Windows, iPhone, Android, Java command line client, API for Java, API for Javascript to work on the browser’s page.

Q- How will a person’s identification be carried out before the execution of transaction?
A— Let me clarify your question. Do you mean identification of a participant, who is not necessarily a person? It might be a program, or a smart contract carrying any operation. The participant of the system is identified with a public key (digital signature), or in some cases with a disposable identifier of his or her key, if the participant doesn’t want to reveal it ahead of time.
If you mean a physical identification of a legal entity or a private individual, than in some countries, including Russia, the participant might have an officially admitted legally binding public key (digital signature). Moreover, we believe that in future there will be created services operating on Universa, which will execute a physical identification of individuals and organizations and will register their keys.

Contact Email Address
ico@artox-media.com
Supporting Link
https://universa.io/

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: Quicker, Safer, Cheaper: What Exactly Does Universa Blockchain Present? appeared first on Bitcoin News.

The post PR: Quicker, Safer, Cheaper: What Exactly Does Universa Blockchain Present? appeared first on bitcoinmining.shop.

The post PR: Quicker, Safer, Cheaper: What Exactly Does Universa Blockchain Present? appeared first on Forex news forex trade.

Continue Reading

PR: Quicker, Safer, Cheaper: What Exactly Does Universa Blockchain Present?

Sergey Chernov on Universa Blockchain

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Universa Blockchain introduces an innovative technology, the technical details of which need to be explained, like mostly when it comes to brilliant ideas. Sergey Chernov, the technical director of Universa, answers the questions about Universa Blockchain.

Q-Sergey, how is the high speed of Universa Blockchain possible?
A-First of all, it is possible because the architecture of Universa is special, it has nothing in common with Bitcoin or Ethereum, for example. It was created for saving computing resources of the network and the storage for the ledger. There is no mining in Blockchain, the processes of keeping and performing contracts are taken from the nodes to clients.

Q-In what case can the network overload and slowing of the transactions’ be expected? Do you have a plan of action if that happens?
A-The network overload is possible primarily because of network channels overload and also if the nods platform equipment is not powerful enough. Three stages of upgrading the nodes in the network are provided, while the last stage assumes almost unlimited scaling on capacity. The network is scaled not by increasing the number of nodes but by enhancing each of the nodes, which can have a an arbitrary number of servers for the parallel processing of transactions.

Q-Let’s suppose Blockchain was hacked, access to what information may be gained by a hacker?
A-In this case the hacker will only get information on signatures and their expiration dates for the last blocks in every certified chain and also to the last blocks of chains which have been processed recently or in the last few hours. Chains are not kept on nodes.
If the hacker has broken into the node and is copying the flow, he has an opportunity to reconstruct open chains coming through the system using that flow. No confidential information of a chain reaches the network, as a result it can’t be reached by attacking the nods of the network. At the same time a chain can certify (using the signature) any confidential and/or private information without transmitting it to the nodes of the network.

Q—How do you achieve data security?
A—First of all, it is only open information that is transmitted to network nodes. The issues of storing and exchanging private information between Universa platform clients are not practically regulated in any way – one can even use an USB to exchange information, or use existing data storage and exchange services, such as email, messengers, cloud storage, etc., for these purposes. For identification, we use an extensive set of well proven electronic signatures.
In many countries, such as the United States, France and Russia, there are direct or indirect, obvious and unobvious prohibitions on storage and transmission of information in an encrypted form, which makes it impossible to intercept and disclosure this information behind the owner’s back. In order to avoid problems when operating in these countries, we simply excluded the transfer of such information on the network in general, leaving these questions to the discretion of the client.

Q—What would motivate a user to install a server that will store blockchain?
A— First of all, I would like to note that to install a server, you would need to purchase a license and undergo a strict process of selection and registration. The owner of the node receives a dib, part of the profit from the transactions passing through the system. Moreover, network growth does not increase its productivity and should be limited based on the requirements of trust, reliability and the revenue of the node.

Q— If blockchain stores only hash, then where the information on the contracts content is stored?
A— Clients store their contracts directly, in any convenient way – it could be ordinary folders as well. It could be compared to a notarized document. First, you pay the notary officer for the notarial certification, and then you can use this document for various operations, since the notary seal makes the document legally trusted. Nevertheless, if you lose the document, the notary officer will not be able to replace it, and you will have to receive a document replica from the emitter, or issues body – some service, for example, which has issued it to you in the first place. With blockchain, you can make as many copies of your contract as you wish. It’s perfectly safe as long as you keep your keys safe. Thus, the contracts are stored and reserved by the parties involved, instead of the net. We are implementing a modular approach decreasing expenses and service cost and increasing efficiency. Each service focuses on its function: Universa node – on the verification of the contract and its changes; Universa client software – on the execution of smart contract and related actions. In fact, chains can be stored in quite an easy way even on current cloud stores, such as googledisk , dropbox, CFile and others.

Q- What infrastructure does the user need to work on blockchain?
A-To work on the system the user needs to create a private key, to purchase a contract for maintaining a desired number of transaction units, and to use one of the clients to work with contracts. We also work out a number of tools for clients: GUI for web, Linux, MacOs, Windows, iPhone, Android, Java command line client, API for Java, API for Javascript to work on the browser’s page.

Q- How will a person’s identification be carried out before the execution of transaction?
A— Let me clarify your question. Do you mean identification of a participant, who is not necessarily a person? It might be a program, or a smart contract carrying any operation. The participant of the system is identified with a public key (digital signature), or in some cases with a disposable identifier of his or her key, if the participant doesn’t want to reveal it ahead of time.
If you mean a physical identification of a legal entity or a private individual, than in some countries, including Russia, the participant might have an officially admitted legally binding public key (digital signature). Moreover, we believe that in future there will be created services operating on Universa, which will execute a physical identification of individuals and organizations and will register their keys.

Contact Email Address
ico@artox-media.com
Supporting Link
https://universa.io/

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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PR: Quicker, Safer, Cheaper: What Exactly Does Universa Blockchain Present?

Sergey Chernov on Universa Blockchain

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Universa Blockchain introduces an innovative technology, the technical details of which need to be explained, like mostly when it comes to brilliant ideas. Sergey Chernov, the technical director of Universa, answers the questions about Universa Blockchain.

Q-Sergey, how is the high speed of Universa Blockchain possible?
A-First of all, it is possible because the architecture of Universa is special, it has nothing in common with Bitcoin or Ethereum, for example. It was created for saving computing resources of the network and the storage for the ledger. There is no mining in Blockchain, the processes of keeping and performing contracts are taken from the nodes to clients.

Q-In what case can the network overload and slowing of the transactions’ be expected? Do you have a plan of action if that happens?
A-The network overload is possible primarily because of network channels overload and also if the nods platform equipment is not powerful enough. Three stages of upgrading the nodes in the network are provided, while the last stage assumes almost unlimited scaling on capacity. The network is scaled not by increasing the number of nodes but by enhancing each of the nodes, which can have a an arbitrary number of servers for the parallel processing of transactions.

Q-Let’s suppose Blockchain was hacked, access to what information may be gained by a hacker?
A-In this case the hacker will only get information on signatures and their expiration dates for the last blocks in every certified chain and also to the last blocks of chains which have been processed recently or in the last few hours. Chains are not kept on nodes.
If the hacker has broken into the node and is copying the flow, he has an opportunity to reconstruct open chains coming through the system using that flow. No confidential information of a chain reaches the network, as a result it can’t be reached by attacking the nods of the network. At the same time a chain can certify (using the signature) any confidential and/or private information without transmitting it to the nodes of the network.

Q—How do you achieve data security?
A—First of all, it is only open information that is transmitted to network nodes. The issues of storing and exchanging private information between Universa platform clients are not practically regulated in any way – one can even use an USB to exchange information, or use existing data storage and exchange services, such as email, messengers, cloud storage, etc., for these purposes. For identification, we use an extensive set of well proven electronic signatures.
In many countries, such as the United States, France and Russia, there are direct or indirect, obvious and unobvious prohibitions on storage and transmission of information in an encrypted form, which makes it impossible to intercept and disclosure this information behind the owner’s back. In order to avoid problems when operating in these countries, we simply excluded the transfer of such information on the network in general, leaving these questions to the discretion of the client.

Q—What would motivate a user to install a server that will store blockchain?
A— First of all, I would like to note that to install a server, you would need to purchase a license and undergo a strict process of selection and registration. The owner of the node receives a dib, part of the profit from the transactions passing through the system. Moreover, network growth does not increase its productivity and should be limited based on the requirements of trust, reliability and the revenue of the node.

Q— If blockchain stores only hash, then where the information on the contracts content is stored?
A— Clients store their contracts directly, in any convenient way – it could be ordinary folders as well. It could be compared to a notarized document. First, you pay the notary officer for the notarial certification, and then you can use this document for various operations, since the notary seal makes the document legally trusted. Nevertheless, if you lose the document, the notary officer will not be able to replace it, and you will have to receive a document replica from the emitter, or issues body – some service, for example, which has issued it to you in the first place. With blockchain, you can make as many copies of your contract as you wish. It’s perfectly safe as long as you keep your keys safe. Thus, the contracts are stored and reserved by the parties involved, instead of the net. We are implementing a modular approach decreasing expenses and service cost and increasing efficiency. Each service focuses on its function: Universa node – on the verification of the contract and its changes; Universa client software – on the execution of smart contract and related actions. In fact, chains can be stored in quite an easy way even on current cloud stores, such as googledisk , dropbox, CFile and others.

Q- What infrastructure does the user need to work on blockchain?
A-To work on the system the user needs to create a private key, to purchase a contract for maintaining a desired number of transaction units, and to use one of the clients to work with contracts. We also work out a number of tools for clients: GUI for web, Linux, MacOs, Windows, iPhone, Android, Java command line client, API for Java, API for Javascript to work on the browser’s page.

Q- How will a person’s identification be carried out before the execution of transaction?
A— Let me clarify your question. Do you mean identification of a participant, who is not necessarily a person? It might be a program, or a smart contract carrying any operation. The participant of the system is identified with a public key (digital signature), or in some cases with a disposable identifier of his or her key, if the participant doesn’t want to reveal it ahead of time.
If you mean a physical identification of a legal entity or a private individual, than in some countries, including Russia, the participant might have an officially admitted legally binding public key (digital signature). Moreover, we believe that in future there will be created services operating on Universa, which will execute a physical identification of individuals and organizations and will register their keys.

Contact Email Address
ico@artox-media.com
Supporting Link
https://universa.io/

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: Quicker, Safer, Cheaper: What Exactly Does Universa Blockchain Present? appeared first on Bitcoin News.

The post PR: Quicker, Safer, Cheaper: What Exactly Does Universa Blockchain Present? appeared first on bitcoinmining.shop.

The post PR: Quicker, Safer, Cheaper: What Exactly Does Universa Blockchain Present? appeared first on Forex news forex trade.

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