Bitfury

Blockchain company that develops software and hardware for working with Bitcoin, including mining.

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Russian University and Bitfury To Launch Blockchain Accelerator

Plekhanov Russian University and Bitfury have entered into a partnership that will see the two develop a blockchain accelerator program. The Russian university will, apart from playing a supportive […] The post Russian University and Bitfury To Launch Blockchain Accelerator appeared first on UseTheBitcoin.
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Bitfury Is Implementing Lightning Into Crypto Payment Platform Paytomat

The Bitfury Group has recently announced a partnership with crypto payment processing system Paytomat, working to bring the Lightning Network to Paytomat’s participating merchants.According to a recent Medium post made by LightningPeach, “Bitfury’s in-house specialized Lightning Network engineering team,” the Bitfury Group is pouring its resources into Paytomat’s wallet and vendor system, enabling “users and merchants on the Paytomat system to send and receive bitcoin payments over the Lightning Network almost instantly.” “Both Bitfury and Paytomat participated in the Blockchain Expo in Amsterdam in June, and, after meeting, we began discussing our potential partnership opportunities,” Pavel Prikhodko, the head of LightningPeach, told Bitcoin Magazine. The partnership between the two companies seems like a natural fit. Bitfury specializes in building blockchain hardware and tools (such as mining chips), and Paytomat has a large base of customers and merchants already lined up. Per the partnership, Bitfury will be incorporating Lightning directly into Paytomat’s platform. As Prikhodko described it, “Bitfury’s LightningPeach team integrated Lightning Network in Paytomat. Bitcoin Lightning payments are now built in to Paytomat’s merchant dashboard, allowing users to make instant and low-fee payments in Bitcoin.” The Lightning Network has generated a great deal of fame in the cryptocurrency space for its promise of instant and feeless microtransactions, but, as with many promising technologies, adoption can become a major hurdle. Prikhodko seems fully confident, though, in Paytomat’s ability to give Lightning and bitcoin sufficient exposure to its network of merchants.“You can find a list of merchants that are already working with Paytomat in their partnership section. Bitcoin Lightning payments on Paytomat will be made available to more than 300 merchants around the world.”On the aforementioned partnership section of Paytomat’s website, the company lists a wide range of vendors across Europe from the Iberian Peninsula to the Lower Countries and even as far as Ukraine. In addition to the wide geographic range of vendors, Prikhodko also said there is a diversity of these vendors themselves, stating that “Paytomat works with many kinds of merchants, including restaurants/cafes and clinics.” With this partnership introducing the Lightning Network to a hitherto unexposed audience, it could open up the payment solution to an entirely new user base and provide a use-case with real worldwide leverage. To date, Lightning’s main implementations and use cases have been limited to web activity and online merchants, though the network has grown significantly in the latter half of 2018. This article originally appeared on Bitcoin Magazine.
Bitcoin Magazine

Bitfury Blockchain Company Spreads Bitcoin (BTC) Lightning Network Merchant Adoption

Via an announcement made earlier this week, an executive spokesperson for Bitfury (a blockchain- based service company), said that his firm had officially entered into a partnership with global payment provider ‘PaytoMat’ so as to help bring Lightning Network payments to the masses. Ever since the initial hype surrounding the Lightning Network (LN) died down a little, a lot of people have been saying that the technology is “half-baked” and cannot be used to scale the native Bitcoin blockchain network effectively. However, this partnership clearly showcases the use of LN within real-world, commercial scenarios. In terms of the technical capabilities of the Lightning Network, it is said that the digital framework of the system can help increase the native transaction throughput of the Bitcoin blockchain from its current rate of 5 TPS. Not only that, it can also help unclog the BTC network so as to make micropayments more streamlined. More On The Matter With the signing of this partnership, customers making use of Paytomat’s different payment portals can quite easily send and receive Bitcoin payments over the Lightning Network (in an almost instantaneous fashion). If that wasn't enough, it is also being said that Bitfury has deployed a “dedicated team” of in-house engineers to work on their own iteration of LN known as ”LightningPeach”. Talking about the aforementioned development, Pavel Prikhodko of Paytomat mentioned that: “The launch of the Lightning Network allows consumers around the world to use cryptocurrencies to make everyday purchases. Through partnerships like Paytomat, we are one step closer to making every point of service terminal cryptocurrency-friendly and Lightning Network-enabled.” Final Take Lastly, in regards to the deal, it is also worth mentioning that Paytomat is all set to bring its BTC payment services to more than 300 merchants across the globe. This will not only help spur the adoption of Bitcoin but will also spread more awareness about the digital asset market to the masses. Closing out this article, it would be apt if we quoted Paytomat CEO, Yurii Olentir, from one of his recent press conferences: “Businesses are willing to accept Bitcoin as a payment method, and crypto-enthusiast are willing to pay using it. We’ll give an opportunity to do it both of them. We’re happy to develop the future of crypto-market together making the fast crypto-payments real.”
Bitcoin Exchange Guide

Local Restaurants to Use Lightning Network as Bitfury Partners with Paytomat

TL;DR The new partnership between Paytomat and Bitfury has brought the Lightning Network to many restaurants and other vendors in several European countries. Paytomat App, available for Android and iOS, will allow crypto holders to make instant payments via the Lightning Network. The app also allows users to identify participating vendors, store coins within the wallet, and scan the barcode to make a payment. The newly-announced partnership between Bitfury and the crypto payment platform Paytomat might soon change the way people pay for their meals in restaurants. While its original purpose is to reduce the number of recorded transactions on the blockchain, the two firms believe that the Lightning Network (LN) will also make crypto payments more accessible and practical. Bitfury has our own #LightningNetwork engineering team, @lightning_peach that works every day to bring faster payments to bitcoin. Today is a huge milestone as they’ve announced a partnership with @paytomat , a leading merchant plugin startup. https://t.co/Vp4BnBwEjN — The Bitfury Group (@BitfuryGroup) November 29, 2018 Due to the terms of the partnership, the network will be installed into Paytomat’s platform. Anyone using Paytomat App will be able to make payments to their favorite vendors within the network. That way, a deeper connection between vendors and crypto holders is established, while the second-layer protocol allows for safe and instant payments. At first, this will only be an option within Italy, Ukraine, Spain, and the Netherlands. Besides, Bitfury is collaborating with the governments of said countries in an attempt to bring additional crypto and blockchain-related projects, one of which is a blockchain-based auction system within Ukraine. The Lightning Network and Paytomat app As mentioned, the Lightning Network was imagined as an additional layer that is to be added to Bitcoin’s blockchain. The idea to invent it came as one potential solution for Bitcoin’s scalability problem. Bitcoin can only handle a few transactions per second, but the coin has grown so popular around the world that this is not enough to handle all of the transactions being made. The Lightning Network was invented as a solution, and it will serve as a new layer where users can establish payment channels between each other. These payment tunnels can be used for as long as necessary for sending payments back and forth. When the final payment is made, and the channel between two parties is closed, all of the transactions will be considered in an attempt to calculate the coin movements. This final calculation will be treated as a single transaction that will be recorded on the blockchain, and thus the pressure will be significantly reduced. As mentioned, the LN is to be built into Paytomat platform, and Paytomat App will allow users to access it. Within Paytomat ecosystem, a wide range of potential vendors can be accessed, with more of them having the ability to sign up and become partners with the company. All participating vendors will be visible within the app, and users will always know where they can spend their coins. Once they locate a vendor they like, users can pick certain products and use a 3D scannable barcode to make an instant payment. They can even store their coins within the app’s contains multi-coin wallet. The app is already available for iOS and Android devices, but also for PC. The Lightning Network is here The Lightning Network has arrived, and it is ready for adoption. All that it takes now is for vendors and crypto holders to start using it. Bitfury stands out as one of the leading developers of this project, and it worked on it via its subsidiary called LightningPeach. The subsidiary’s development team is being led by Pavel Prikhodko, who praised the new partnership in a recent statement. He also mentioned that the company aims to make all of the POS terminals crypto-friendly as well. Paytomat’s CEO and Founder, Yurii Olentir, also commented on this development by stating that there will always be demand for this technology for as long as there are firms and customers ready to work with crypto. While the partnership is a big move regarding the adoption of the LN, it is still only the beginning. The new technology holds a lot of potential, and breakthroughs are expected to make it even better as the protocol develops further. The post Local Restaurants to Use Lightning Network as Bitfury Partners with Paytomat appeared first on CryptoPotato.
CryptoPotato

Bitfury to Introduce Lightning Network to Paytomat for Instant Restaurant Transactions

For quite some time, we have read a lot on how blockchain technology and cryptocurrency could radically transform significant industries in the close future, but what about now? Well, there are many organizations, firms, and brands that are already adopting the cryptocurrency revolution. The Bitfury Group seems to be on the path to making cryptocurrency use closer to the average individuals. An official announcement today from Bitfury confirmed the new partnership with Paytomat, a blockchain-based payment processor, to bring forth their Lightning Network. The new network would see payments through Paytomat's merchant and digital wallet app become transformed to include faster transacting. Bitfury has our own #LightningNetwork engineering team, @lightning_peach that works every day to bring faster payments to bitcoin. Today is a huge milestone as they’ve announced a partnership with @paytomat , a leading merchant plugin startup. https://t.co/Vp4BnBwEjN — The Bitfury Group (@BitfuryGroup) November 29, 2018 What is the Lightning Network? The Lightning Network is an open-source network structure produced by Bitfury's engineering team, LightningPeach. The network is layered on the Bitcoin Blockchain to allow for users to quickly and efficiently send and receive their Bitcoin payments almost instantly. The LightningPeach team will be in charge of ensuring the technical implementation of the network become operational and successful According to Head of LightningPeach, Pavel Prikhodko, the Paytomat collaboration presents an opportunity for both parties to expand their crypto transacting capabilities. “The launch of the Lightning Network allows consumers from around the world to use cryptocurrencies to make everyday purchases. Through partnerships like Paytomat, we are one step closer to making it every point of service terminal cryptocurrency-friendly and Lightning Network-enabled.” Paytomat's CEO and Founder, Yurii Olentir, further expresses the opportunities customers should expect from accepting crypto payments through a new experience that increases the convenience of transactions. He adds: “Businesses are willing to accept Bitcoin as a payment method, and crypto enthusiasts are also willing to pay using it. We will give an opportunity to do it for both of them. But with the new Bitfury partnership and the implementing of the Lightning Network to our ecosystem, this opportunity could become quick and efficient enough.” Moreover, the CEO points out at the excitement the development of their crypto payment solutions to bring convenience to the real world. “We are happy to develop the future of the crypto market together by making the fast crypto-payments real.” The Road Ahead The Lightning Network wallet application brings the much-needed convenience of low-costs and instant Bitcoin payments for all users. Consequently, such collaboration would make buying and selling of goods and service intuitive and straightforward for those using Bitcoin. About Bitfury Group The Bitfury Group is a fully-fledged blockchain service and technology firm that delivers cutting-edge hardware and software solutions necessary for businesses, governments and individuals to securely mover crypto assets on the blockchain. Some of the company's trusted and transparent innovations include semiconductor chips, mobile data centers, advanced analytics platform Crystal Blockchain and the private blockchain network, Exonium. About Paytomat Paytomat is an Estonian-based software solutions firm that assists in real-world adoption of cryptocurrency through a wide range of products for businesses. Already, Paytomat covers multiple merchants across Europe with payment processing integrated alongside different merchant systems without the need for additional hardware or third-party software solutions.
Bitcoin Exchange Guide

Bitcoin is a Great Tool to Track Criminal Activity Worldwide

It is no secret criminals are drawn to cryptocurrencies. Especially when it comes to Bitcoin, there are numerous reports of its association with criminal activity. This is a peculiar trend, given the transparency of the underpinning technology. The rising popularity of blockchain analysis firms will further contribute to weeding out this type of behavior. Bitcoin Not a Tool for Criminal Behavior There are numerous misconceptions when it comes to Bitcoin. Many government officials and analysts see it as an anonymous form of money. This is factually incorrect. It is true that a Bitcoin transaction does not involve a person’s name or physical address. At the same time, every transaction is recorded on a public ledger. Anyone in the world can see the transfer of money in real-time. This makes Bitcoin a pseudonymous form of money first and foremost. Users can use an alias to send and receive transactions. That alias is what is known as a Bitcoin wallet address. It is this form of alias which attracts a fair bit of criminal activity. Bitcoin has become a common payment method on the darknet despite its transparent aspects. It is possible to make Bitcoin transactions more anonymous. This can be done by converting to and from other cryptocurrencies, or by using a mixer. Even then, it is possible to identify the sender and recipient of a transaction in some cases. There does not appear to be a fool-proof method to use Bitcoin anonymously in an efficient manner. Additionally, numerous companies specialize in identifying such transactions and users. The Rise of Blockchain Analysis Over the years, an interesting trend has become apparent. Blockchain analysis companies identify users of suspicious Bitcoin transactions. BitFury is one of the companies exploring options in this industry. Government agencies around the globe are also paying more attention to these service providers. All of these ventures make it evident Bitcoin cannot be anonymous by default. Despite this evidence, there are still conflicting reports to be read. One study complains there is a growing number of criminal activity involving Bitcoin. This is in stark contrast to a statement made in September 2018. Yaya Fanusie, director of analysis for the Foundation For Defense of Democracies Center on Sanctions and Illicit Finance, told US Congress that Bitcoin plays no role in terrorist funding or activity. Instead, they still flock to cash and other traditional financial means. “Cold hard cash is still king,” Fanusie stated. The native technology powering Bitcoin is a valuable tool to end criminal activity. All information is out in the public the moment a money transfer takes place. Exchanges can flag specific addresses for suspicious activity if they see fit. That also allows them to ensure the funds cannot be moved further or converted into fiat currency. The underlying technology is never to be held accountable for how people attempt to abuse the system. If that situation were different, all forms of money should be disallowed by default. Do you think that Bitcoin can reliably be used to track criminal activity? Let us know in the comments below. Images courtesy of Shutterstock The post Bitcoin is a Great Tool to Track Criminal Activity Worldwide appeared first on Live Bitcoin News.
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Prosecutors Call for Ten Year Jail Term for Karpeles Over Mt. Gox Embezzlement

Mark Karpeles, the CEO of Mt Gox, is currently being accused of embezzlement by Japanese authorities. The prosecutors of the court case are seeking a 10-year sentence for the ex-CEO, which commanded the now-defunct Mt Gox exchange. This comes in the midst of the extension announced for civil rehabilitation claims. Japanese prosecutors say as much by alleging that Mark Karpeles's actions "played a great role in totally destroying the confidence of Bitcoin users. The actions in question are that he allegedly embezzled a total of 341 million yen (US$3 million) of customer funds from the Mt Gox account, moving it to his personal account between September and December 2013, while padding the numbers on his company's trading system to cover up the loss. Karpeles has sworn his innocence and says the money, moved in the last four months of 2013, was meant to serve as only a temporary loan. He also argued, earlier in the trial, that the funds in question did not belong to clients but were his now-defunct company’s revenue. In response to the former CEO’s statement, the prosecutors at the court said: There was no documentation of loans, and there was no intention of paying back the money. The prosecutors went further to demand a harsh sentence for Karpelès. According to the Japanese prosecutors, the Mt. Gox Chief betrayed his clients’ confidence and misused most of their funds. The ex-CEO is currently confined to Japan as a condition of his bail and has been answering in freedom. He has often protested his innocence and publicly appealed to the industry. It remains unknown when the trail will conclude, the publication added.
BitZamp

Tezos [XTZ] Story – XTZ and Waves Highest Gainers

As many crypto enthusiasts have started to notice, there is a slight attempt by the bulls to get Bitcoin – BTC against the US Dollar up back on its feet. Read: Bitcoin (BTC) Price Analysis: Are Bulls Back on Their Feet? Bitcoin bull Mike Novogratz insists that bitcoin won’t fall to the $80 level despite signs that the bear market could persist. In an interview with Bloomberg, he reiterated that bitcoin will become digital gold and that revolutions don’t happen overnight. If the supportive trend line starts to gain momentum and hold-off any waves of bears that tend to tank the value downward, a ripple-effect could present itself impacting all following altcoins as the pioneer cryptocoin always does. Among the top 20, the highest gainer in the last 24-hours without a doubt is Tezos [XTS]. Per time of writing, the pair XTS/USD is changing hands at $0.4197 – marking an increase of 13.23%. Source: coinmarketcap Tezos for starters – During one of the most successful and largest ICOs ever held – Tezos Foundation raised over $232 mil bringing a new cryptocurrency in the market. During a contact made by Reuters to the president of the foundation it was confirmed that its MainNet was set to launch on the 14th of Sep, 2018. #Breaking @millervalue #ValueInvesting #Crypto #Bitcoin #Cryptocurrency project #Tezos to launch main #network next week:… https://t.co/nqOY185XCh — John M. Spallanzani (@JohnSpall247) September 14, 2018 What is Tezos (XTZ)? Tezos is a decentralized computing platform for Turing-complete smart contracts. Tezos has three key features. (1) “Liquid Proof-of-Stake” consensus – there is a relatively low barrier to consensus participation and delegation is not required. (2) Smart contract verification – Tezos invented the Michelson programming language that allows formal proofs of contract properties for better contract security. (3) On-chain governance – all aspects of governance are contained in the platform: voting on proposed protocol upgrades, paying developers and implementing the upgrades. – Via Kraken’s blog post – Kraken Listing XTZ Blog Post Right on its tail is Waves which is welcoming a daily price hoist of 10.01% against the US Dollar reaching the mark of $1.85. Its beginning of December price surge as it seems is still continuing. The reason for this trend was the recent announcement of the release of a significant update to the mobile wallet. We are excited to announce a long-awaited update of the #Waves Mobile app! Deposit, store and withdraw your #crypto securely, trade your assets on DEX, lease your $WAVES — everything is now available right on your smartphone! Read more about it here: https://t.co/5Qp7YKTa8r pic.twitter.com/y5hsCXj2GV — Waves Platform (@wavesplatform) December 3, 2018 The post Tezos [XTZ] Story – XTZ and Waves Highest Gainers appeared first on Ethereum World News.
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