Digital Currency Weekly Recap 3-6-2016
247Exchange Now Serving Canada
Canadians in search of an efficient way to use their Canadian dollars to purchase digital currencies now have the option of using 247exchange services. The crypto exchange company recently expanded its services to encompass Canada, and the nation’s residents will now have access to easier conversions between their CAD and the various digital currencies the exchange handles.
Using 247exchange services, Canadian customers will have the ability to not only purchase digital currency, but can also withdraw money as well. That process is equally simplified, and offers flexible options that include plastic cards, direct debiting to bank accounts, money transfers, and more.
Ledger TrustZone: Turn Your Smartphone into Bitcoin Wallet
Ledger has unveiled new wallet technology that uses the ARM TrustZone chip to secure a user’s Bitcoin wallet, complete with the necessary private keys. Those keys remain safely within the chip to ensure that hackers and others who want to breach user data are deterred from doing so.
The process utilizes a little-known CPU that was originally placed on Android phones for improved security and privacy in financial dealings. The TrustZone was never actually used by financial companies, however, and the technology has basically gone unused for a number of years.
The use of TrustZone’s CPU as a secure Bitcoin hardware wallet offers users the benefit of having immediate and direct access to their private keys in an environment free from hacks and other attempts at theft. More importantly, transforming smartphones into digital currency wallets also eliminates the need for separate hardware that could be lost, stolen, or damaged.
New Ethereum Platform Launches: Homestead
Ethereum recently unveiled its next-generation Ethereum platform, which the company is calling Homestead. The original beta version was called frontier and debuted at the end of July, 2015 after the company had completed its proof of concept. The success of Frontier attracted the interest of many banks and financial companies – a feat that the company hopes to repeat with Homestead. Full details can be found on the company’s blog site.
End of World at Hand; Mass Panic Erupts
Well, it was bound to happen. After more than a year of dire warnings that the Bitcoin blockchain was approaching the breaking point, it was almost inevitable that digital currency advocates would trickle into the streets and alleys of the online community to wave their “Repent, the End is Nigh” placards. This week saw that eventuality manifest in all its depressing glory, as reports began to circulate indicating that the network has now reached its capacity.
Transaction times have been “massively delayed” – with transaction wait times increasing from around ten minutes to twenty, forty, or more. By some accounts, some merchants are panicked to the point where they are no longer accepting digital currency as payment. Some, like Mike Hearn, have expressed the opinion that Bitcoin in particular has already failed. Meanwhile, the Doug Neidermeyers of the world assure us that all is well.
Fortunately, we have people like Timothy Goggin around to remind us that there is more to the story than unresolved problems, failure to attain consensus, and parades in disarray. To learn why he believes that Bitcoin is already well on its way to achieving recognized currency status, check out his latest gem: Will Bitcoin Ever Become True Currency? It’s Already Halfway There!