Popular Retail Trading App, Robinhood, Is Testing A Crypto Wallet, Shows Beta Version

Popular Retail Trading App, Robinhood, Is Testing A Crypto Wallet, Shows Beta Version

Online stock trading app Robinhood (HOOD) is testing the long-awaited new features in its crypto wallet that will allow users to send and receive crypto assets outside of the app.

The beta version of the brokerage service provider’s iPhone app showed that it is working on such features.

According to a Bloomberg report, the software also had a hidden image that showed a waitlist page for users signing up for the feature. The code for the app also referred to cryptocurrency transfers.

Discovered by software developer Steve Moser, the planned offering also shows the ability to set up two-factor authentication to use the feature.

CEO Vlad Tenev has repeatedly said that adding crypto wallets and allowing deposits and withdrawals is the company’s priority. “It’s something that our teams are working on,” he said on a call following the company’s second-quarter earnings release.

At the time, Tenev also said that they are growing their crypto team “hugely” this year and that they “might add some new coins along the way,” too.

The company that went public in July had 41% of its net revenue in the second quarter coming from cryptocurrency trading. And out of this $233 million revenue, 62% came from the meme coin Dogecoin (DOGE) alone. DOGE -3.81% Dogecoin / USD DOGEUSD $ 0.20
-$0.01-3.81%
Volume 1.77 b Change -$0.01 Open $0.20 Circulating 131.38 b Market Cap 26.38 b
10 h Popular Retail Trading App, Robinhood, Is Testing A Crypto Wallet, Shows Beta Version 5 d Coinbase is Coming for the Sizable and Lucrative Futures and Derivatives Market in the US 1 w Robinhood Trading App Rolls Out “Dollar Cost Averaging” for Crypto Investments

The new crypto features are being tested as part of the company’s “alpha program,” which will require the users to activate crypto sending and receiving. The enrollment page will require an identity check with the message reading, “Complete the steps to start sending and receiving crypto.”

Code in the app also revealed plans for spare change investing and an early deposit option for checking accounts.

This comes after Robinhood launched price volatility protection and recurring orders for crypto purchases last week.

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Author: AnTy

Data Shows Institutional Investors Diversifying Out of Bitcoin and Into Ethereum & Other Altcoins

Data Shows Institutional Investors Diversifying Out of Bitcoin and Into Ethereum & Other Altcoins

Bitcoin is the only one to record outflow, that too the largest ever; meanwhile, Ethereum and other cryptocurrencies, especially ADA and DOT, continued to see inflows last week, as per the CoinShares report.

Crypto asset investment products registered a net outflow of $50 million last week, the first since October last year and the largest since May 2019.

However, “historical data implies that outflows of this nature have not marked pivotal points in sentiment change for digital assets,” notes CoinShares in its weekly report.

Interestingly, Bitcoin (BTC) investment products were the only ones to record outflows at $98 million, 0.2% of total assets under management (AUM). While small, this represents the largest outflow recorded, with the second-largest at $19 million in May 2019. BTC -1.43% Bitcoin / USD BTCUSD $ 42,635.41
-$609.69-1.43%
Volume 55.57 b Change -$609.69 Open $42,635.41 Circulating 18.71 m Market Cap 797.85 b
4 h IOHK Unveils ERC-20 Converter Tool for Testnet, Allowing Ethereum Tokens to Migrate to Cardano 6 h FTC Data Reveals Big Jump In Crypto Investment Scams, Losses Totaling $80M 6 h Crypto Investment Firm Valour Unveils Cardano (ADA) and Polkadot (DOT) Exchange-Traded Products (ETPs)

Total Bitcoin inflows amounted to $4.3 billion for the year, while last year, investors pumped $15.6 billion into Bitcoin funds and products, and Ethereum inflows reached almost $2.5 billion.

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Unlike Bitcoin, all the other digital asset investment products continued to see inflows totaling $48 million last week. The data implies that “investors have been diversifying out of Bitcoin and into altcoin investment products,” it states.

The investment vehicles for the second-largest cryptocurrency, Ether, continued to see continued inflows, gathering $27 million last week. The products also had Ethereum trading volumes at the largest ever, totaling $4.1 billion for the week.

This has been the first time that there have been more investment product trading volumes in Ethereum relative to Bitcoin, which only recorded $3.1bn last week.

“Bitcoin’s perceived environmental costs are becoming a bigger and bigger part of the narrative, boosting the relative appeal of ethereum and its upcoming transition to the less energy-intense proof-of-stake security model,” said Matt Weller, global head of market research at Forex.com.

Besides Ethereum (ETH), Cardano (ADA) and Polkadot (DOT) remain the most popular and recorded inflows of $6 million and $3.3 million respectively.

ETH 3.59% Ethereum / USD ETHUSD $ 3,362.95
$120.733.59%
Volume 40.08 b Change $120.73 Open $3,362.95 Circulating 115.93 m Market Cap 389.87 b
3 h Polkadot to Roll Out Parachains on Kusama Canary Network, the Final Phase Before Full Launch 4 h IOHK Unveils ERC-20 Converter Tool for Testnet, Allowing Ethereum Tokens to Migrate to Cardano 6 h Crypto Investment Firm Valour Unveils Cardano (ADA) and Polkadot (DOT) Exchange-Traded Products (ETPs)
ADA -1.73% Cardano / USD ADAUSD $ 2.00
-$0.03-1.73%
Volume 6.7 b Change -$0.03 Open $2.00 Circulating 31.95 b Market Cap 63.88 b
3 h Polkadot to Roll Out Parachains on Kusama Canary Network, the Final Phase Before Full Launch 4 h IOHK Unveils ERC-20 Converter Tool for Testnet, Allowing Ethereum Tokens to Migrate to Cardano 6 h Crypto Investment Firm Valour Unveils Cardano (ADA) and Polkadot (DOT) Exchange-Traded Products (ETPs)
DOT 5.30% Polkadot / USD DOTUSD $ 40.39
$2.145.30%
Volume 3.9 b Change $2.14 Open $40.39 Circulating 938.99 m Market Cap 37.92 b
3 h Polkadot to Roll Out Parachains on Kusama Canary Network, the Final Phase Before Full Launch 4 h IOHK Unveils ERC-20 Converter Tool for Testnet, Allowing Ethereum Tokens to Migrate to Cardano 6 h Crypto Investment Firm Valour Unveils Cardano (ADA) and Polkadot (DOT) Exchange-Traded Products (ETPs)

Grayscale remains the largest digital asset manager with $47.268 million in assets, which saw zero inflows not only last week but also so far in May.

CoinShares, the second-biggest and largest European digital asset manager, oversaw about $6 billion as of last week, which along with 3iQ, ETC issuance, and Purpose Investments, all recorded more outflows last week than inflows, with 21 Shares being the only exception to that.

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Author: AnTy

Survey: UK Investors See Cryptos as Better Investment Attractions To Stocks

A poll carried out by Censuswide for UK firm Parliament Street shows British investors closely monitor the crypto space.

UK Investors Have Crypto FOMO

The survey carried out in Feb. 2021 aimed to know how responders intend to diversify their investment portfolio following the economic uncertainty occasioned by the pandemic.

According to the 2,000 participant poll result, one-third of those questioned said they failed to take advantage of owning cryptocurrencies earlier and won’t consider joining due to current prices.

Despite feeling left out, 31% of investors believe the crypto market is expected to continue its bullish run. According to them, Bitcoin will likely hit the £50,000 mark before the year runs out. A further 18% of responders said BTC would surpass the £100K mark sooner rather than later.

For investors who were late to the crypto party, 25% of participants say they would have become millionaires if they had bought crypto at the start of 2020. Also, 37% of those questioned said that traditional assets like stocks, bonds, and shares were less profitable given the economic impact of the covid-19 pandemic on the capital markets. To them, cryptocurrencies are better investment attractions.

Cryptocurrencies have grown tremendously since the start of the year. Institutional demand has risen as corporate bodies see digital currencies as a hedge against the fast-eroding fiat currencies. With some of them converting all their cash reserves to cryptocurrencies, the industry has surpassed the $1 trillion mark in less than five years.

Bitcoin currently trades above $56,000, and there are many reasons why the prices are expected to rise even further. Increasing adoption of BTC as a speculative asset and medium of exchange are two essential factors. The limited 21 million supply restriction is also gradually turning it into a scarce commodity, leading many investors to call it “digital gold.”

But, Bitcoin is not alone. Ethereum stands heads-over-shoulder over other digital assets suitably called “altcoins.” With many altcoins fulfilling different specific purposes, the digital economy has become a wonderland for many investors. As a result, the traditional asset class has seen money moving into the crypto space due to its lower ROI.

Cryptocurrencies are highly volatile, falling sometimes 30% in a day, but their higher ROI and the utopian ideal of no central authority intermediating in transactions has seen the nascent industry continue to grow. Its underlying technology, distributed ledger technology (DLT), has also been praised for its myriad applications.

Rise of Bitcoin’s Addition to Corporate Treasuries

Last year, the addition of cryptocurrencies like Bitcoin to corporate balance sheets became a thing. Business executive and CEO of MicroStrategy Michael J.Saylor made it popular. Saylor was instrumental in convincing other industry heavyweights to join the crypto train. One of these tech veterans is Tesla’s Elon Musk.

Both men have done for crypto what Steve Jobs did for the internet. Saylor broke into the crypto space much earlier with a $625 million investment in BTC. At press time, his intelligence company holds a staggering $4.45 billion stake in Bitcoin alone. Musk came a little later, but his impact cannot be disregarded. In early February, Tesla’s $1.5 billion stakes in BTC saw BTC leave the support level of $42,000 to a new ATH of $58,000 in less than a month, climbing 20%.

Key collaborations from large firms like MasterCard, Square, Paypal, and assets management firm Grayscale have also made cryptocurrencies an exciting project.

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Author: Jimmy Aki

Crypto ETP Volume Surges in January as Institutions Flood the Market

Data shows that the trading volumes for crypto-denominated ETPs saw a significant surge in January 2021. Institutions also appear to be cutting their losses as the crypto market braces for a more significant pullback.

All eyes are on institutional crypto investors this week again, as it appears that some have been making significant plays to begin the year. In its recent weekly report, market data and metrics provider CryptoCompare has confirmed a spike in the volume of assets under management (AUM) in crypto-denominated exchange-traded products (ETPs).

Promising Numbers Across the Board

Per the report, there has been a staggering 93.7 percent increase in the AUM for crypto ETPs across the board. In nominal terms, crypto ETPs now holds an impressive $36 billion. Aggregate daily volumes also jumped above $1.5 billion, marking healthy institutional participation to kick-off 2021.

CryptoCompare noted that Grayscale Investments makes up a significant chunk of these figures, with its various investment trusts housing $22.6 billion, 63 percent of all capital invested into crypto ETPs. The New York-based asset management firm’s products were also found to have represented 64 percent of the entire industry’s ETP volumes, pushing $972 million in daily trading volumes.

Grayscale’s dominance in the institutional investment space has been nothing short of astonishing. The company, which operates several investment trusts for large-cap cryptos, has been the go-to source for institutions looking to get their bit of the crypto pie. As a result, its AUM has been on the rise for months.

Earlier this week, Danny Scott, the CEO of crypto exchange CoinCorner, confirmed that Grayscale purchased 16,244 BTC ($607 million) in 24 hours. Even with the threat of a liquidity crunch, the company has continued to suck up Bitcoins from the open market at incredible levels.

While Grayscale dominated trading volumes, the company’s products still trailed in the spot markets, as the premiums on its shares fell by 8 percent this month.

As for exchange-traded notes (ETNs), trade volumes almost tripled in January. These were dominated by the BTCE product from ETC Group, which saw nearly $50 million in daily trades.

The second-most traded ETN was the BTCW/USD ETN from WisdomTree, which had $7million in trading volumes, while VanEck’s Bitcoin Vectors saw $5 million in daily trades.

Profit-Taking from Investors

Although the commitments into crypto ETPs have been impressive, institutions are also staying vigilant as Bitcoin’s price begins a significant pullback.

Crypto fund provider CoinShares reported that institutional crypto products had seen $85 million in outflows this past week, asserting that some investors seem to be taking profits following Bitcoin’s bull run over the past month.

CoinShares noted a similar trend in Ether-derived investment products, with $3 million exiting the past week’s market.

Despite the strong profit-taking, institutional inflows are still strong, with $359 million entering crypto investment products this week. CoinShares noted that Bitcoin remains investors’ top prize, with the leading cryptocurrency representing 99 percent of all capital inflows this week.

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Author: Jimmy Aki

Big Uptick in 1k BTC Addresses Shows Institutions Bought the Dip

Big Uptick in 1k BTC Addresses Shows Institutions Bought the Dip; Goldman Sachs says Still Just 1% of Institutional Money

Despite the healthy pullback, more correction cannot be ruled out yet but $30k will be protected because many institutional investors bought around this level.

Bitcoin is taking a breather and hovering around $35,000 after the deep pullback earlier this week. This profit-taking at an ATH of $42,000 was expected after Bitcoin rallied more than 1,000% from the March 2020 lows.

“There’s signs that retail investors are taking profit,” said Ryan Rabaglia, OSL’s global head of trading. “Heightened volatility is often correlated with an uptick in retail participation.”

The market is particularly focusing on the US Dollar Index right now, which has been gaining strength, currently hovering around 90.

“We think a pullback is healthy,” said David Grider, the digital strategist at Fundstrat Global Advisors. According to him, the recent price action doesn’t indicate that Bitcoin has topped out.

However, further losses can’t be ruled out either, with miners continuing their selling while no significant stablecoin inflows in the picture. No outflows are seen from Coinbase either; as a matter of fact, BTC is flowing into exchanges.

On the basis of this, “We might have second dumping,” said Ki Young Ju, CEO of data provider CryptoQuant.

Still, $30k will be protected, and in the event of a dip, we might not go down below $28k because “there are many institutional investors who bought BTC at the 30-32k level,” Young Ju added.

These institutions were actually into buying the dips that came on Sunday and Monday. The large amounts of BTC holders that can be seen as a proxy for institutional adoption “increased significantly” since the start of 2021. This jump in address with at least 1,000 BTC shows that this institutional adoption is here to stay.

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However, according to Goldman Sachs’ Jeff Currie, the level of institutional investment in the market is still very small though “the market is beginning to become more mature.”

“The key to creating some type of stability in the market is to see an increase in the participation of institutional investors, and right now they’re small,” said the investment bank’s head of commodities research on CNBC., adding that the investment in BTC is, “roughly 1% of it is institutional money.”

While for institutions, Bitcoin is a hedge against fiat debasement and risk of inflation, as it emerges as a store of value, for some, it is a way to fix economic injustice as well.

“For the first time in history, we have a Plan B option to the current financial system which has seen years of redlining, racial discrimination and other egregious acts by retail banks to the Black community,” said Isaiah Jackson, author of “Bitcoin & Black America.”

According to him, Bitcoin gives Black people an opportunity to not only shift their money but also their mindset because the world’s leading digital currency is unconfiscatable and has no barrier to entry.

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Author: AnTy

Fed Reserve of Philadelphia Research: Account-Based CBDCs May Replace Commercial Banks

A research paper published on June 1, 2020, by the Federal Reserve of Philadelphia shows account-based central bank digital currency (CBDC) could potentially replace the role of commercial banks if panic runs are managed and commercial banks are given a level playing field in the money market. This however poses a huge risk, the paper says.

The research titled, “Central Bank Digital Currency: Central Banking for All?” shows that a set of allocations in the private financial intermediation (commercial banks) could easily be replaced by a CBDC. The paper however claims that competition between the account-based CBDCs and commercial banks should be allowed and depositor runs minimized.

The paper is a collaboration of the research wing of the Fed Reserve of Philadelphia, the University of Chicago, University of Pennsylvania and Ecole Polytechnique. It looks deeper on the consequences of introducing a CBDC and its effects on the current financial system.

The paper looked into the introduction of an account-based CBDC system, whereby citizens will have a direct account with the central bank, and the implications of a CBDC on financial intermediation – the role current commercial banks play in the system.

Central banks stability during bank runs

Commercial banks are the major facilitators of maturity transformation – a process that sees short term liabilities converted to long term liabilities. For example, banks take in deposits (short term loans) and transform them into longer term instruments such as mortgages and commercial bonds.

However, banks are liable to bank runs whereby customers rush to withdraw their money all at once leaving the bank strained. Sometimes the deposits cash flow also dries up leaving the bank with no money to lend.

Possible risk in central bank’s CBDC implementation

Introduction of an account-based CBDC will offer central banks similar ability to current commercial intermediaries but will have to rely on the “expert knowledge of investment banks” to successfully transform deposits to long term side assets, the paper says.

With a clear and “rigid” partnership with investment banks, central bank may turn a monopolistic as more depositors open accounts with them from the commercial banks.

However, the paper notes a possible risk involved in the implementation of a CBDC. It reads,

“If the competition from commercial banks is impaired (for example, through some fiscal subsidization of central bank deposits), the central bank has to be careful in its choices to avoid creating havoc with maturity transformation.”

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Author: Lujan Odera

Gartner Blockchain Report: Smart Contracts To Boost Data Quality by 50% In 3 Years

  • Research shows that blockchain technology will increase overall data quality by over 50% in the next three years.
  • However, the overall data availability to organizations in various sectors of the economy will dip by 30% or more by 2023.

In a new report, “Predicts 2020: Data and Analytics Strategies — Invest, Influence and Impact” by Gartner Inc., a global research and advisory firm, the overall data accuracy and quality is set to boost by 50% in the next three years due to blockchain technology adoption. Companies that adopt blockchain smart contracts will however have to do with less data as the middle men (third party data collectors) get annihilated from the P2P system.

According to the pay-walled article, companies that adopt blockchain technology and transact using smart contracts are set to improve their data quality by 50% by 2023. Lydia Clougherty, senior researcher at the firm sees the adoption of blockchain as a key differentiating factor in all businesses and organizations as she wrote in a recent blog,

“When an organization adopts blockchain smart contracts, whether externally imposed or voluntarily adopted, they benefit from the associated increase in data quality.”

A (net positive) tradeoff?

The report however warns on the reduced availability of data as the companies that acted as middlemen to collect and sell the data are cut off by peer to peer blockchain systems. In the next three years over 30% of the data available to companies will be cut off according to the report as these companies are cut off. Is this a healthy tradeoff?

Well, according to the report, the net effect is positive for data analysts and researchers who despite losing the ease of data collection will see their return on investment rise steadily as adoption rises. However, the smart contract technology is still way behind in adoption as the report states and a lot is yet to be done to increase global adoption.

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Author: Lujan Odera

Bitcoin’s Hash Rate Hits A fresh All Time High Signifying A Strong Network Before Halving

Bitcoin hash rate has hit a fresh all-time high (ATH) which shows that the king crypto has continued to gain on its technical ability.

Fresh data from BitInforCharts shows that the total hashes have jumped to 126Eh/s. This shows that the Bitcoin network has been in a meteoric rise in the last two years as the rate was only 13Eh/s when Bitcoin hit its all-time high price in Dec. 2017. The new figure indicates 126 quintillion tried solutions for every second.

The high hash rate illustrates that Bitcoin is currently the strongest and most secure computing network in the blockchain and crypto industry. Currently, it is impossible to perform a 51% attack on BTC as anyone trying wouldn’t be able to withstand such a level of hash power.

The high hash rate shows that there is high miner confidence as there are more miners within the network than ever before. It also shows that miners are more cautious of the incoming BTC halving that will occur in May.

Hash rate can be described as the total amount of processing power that is required for validation in a network. A high hash rate means that it is now more difficult to mine Bitcoin than before. This means that only the miners with superb mining devices and can access chap electricity can afford to remain profitable. Since the start of this year, mining difficulty within the Bitcoin network has increased by 13%.

With the impending halving that will take place in May where miners will get half the reward for finishing a block (6.25 BTC), the ideal expectation is that there will be a mass exodus of miners to other cryptos. However, the recent trend of higher hash rates shows that there are more miners coming to the Bitcoin network.

The miners are expecting that the halving will lead to a price surge and could be the reason they are trooping to the network for a share of the pie post-halving. The high hash rates are good for the pre-halving period.

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Author: Joseph Kibe

Bitwise “Committed” to Bitcoin ETF, Sends a Letter to SEC about Significant Retail Demand for BTC

  • A Bitcoin ETF to provide investors exposure to BTC in a regulated manner
  • Charles Schwab’s study shows millennials growing interest in BTC
  • Most popular crypto app has 30 million accounts, more than Charles Schwab, TD Ameritrade, and E*Trade’s combined
  • But these Bitcoin access avenues have high fees, limited disclosures, & security risk

in response to their decision to disapprove the proposed rule change to list and trade shares of the Bitwise Bitcoin ETF Trust under NYSE Arca Rule.

Though the company is disappointed with the Staff’s decision, it is not giving up and aims to provide additional context to review Staff’s decision.

“Bitwise is committed to creating a bitcoin ETF that provides all investors with the ability to

access bitcoin in a regulated and familiar fund format with the transparent and robust disclosures required by the federal securities laws.”

Such an ETF, it said would provide protection for the current millions of US investors using other avenues to access BTC market.

Meeting SEC’s Requirements for an ETF

Bitwise in its letter dated Dec. 18, reiterates that two requirements found by the Staff in terms of the bitcoin market being resistant to market manipulation and fraudulent activity and that the listing exchange has entered into a surveillance sharing agreement with a regulated market of significant size are satisfied by BTC market.

Because the BTC price is set in the open market, Bitwise argues it is resistant to the kind of market manipulation scandals that occurred in markets that rely on coordinated fix pricing. Bitcoin’s inherent fungibility and the market’s distributed nature allows for effective arbitrage that it said helped insulate bitcoin from attempts to manipulate individual markets.

As for the market to be need to be resistant to a comprehensive set of market manipulation vectors to qualify, “This is a standard that, historically, even the most well-regulated, arbitraged, and liquid markets, such as the U.S. equity index options market, have not met.”

Bitwise’s research also pointed out that CME bitcoin futures — the largest US bitcoin market by notional volume — is a regulated market of significant size.

Why Does A Bitcoin even ETF Matter?

But why exactly the market needs a Bitcoin ETF? Bitwise notes that a large number of US investors are investing in Bitcoin but they need to do so in a safe and efficient manner.

The company illustrated Charles Schwab’s recent study that showed Grayscale Bitcoin Trust is the fifth largest holding in millennial retirement accounts, ahead of companies like Berkshire Hathaway, Walt Disney, and Microsoft.

GBTC it said is the only tool that retail investors can access Bitcoin through a traditional brokerage account. However, it’s ability to offer high-fidelity exposure to BTC is limited. Also, it is traded on the secondary market at a premium to its net asset value (NAV) as high as 140%.

Another primary means for retail investors for accessing bitcoin is via crypto apps. Coinbase is once such incredibly popular one that has 30 million accounts, more than the number of active brokerage accounts at Charles Schwab, TD Ameritrade, and E*Trade combined. But they have their own challenges in terms of high fees, limited disclosures, and security risk.

“Our goal is to demonstrate that there is significant retail demand for bitcoin exposure, and to note that this demand is currently forced into products that forgo the protections and disclosure requirements that would be required of an ETF.”

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Author: AnTy

Research by Bitmex Reveals That Bitcoin Decentralization Is Due to Scalability Improvement

A recent study by BitMex shows that software improvements have made it easy for Bitcoin node synchronization. The study calculated Bitcoin Core’s Initial Block Download times of software released between 2012 and 2019. These are the number of times required to download and verify the blockchain. The comprehensive report on the study was published on November 29.

According to the report, it was impossible to synchronize using the older Bitcoin Core software version. The improvements in the newest version of the software have made it easy to operationalize the network.

Bitcoin Core software versions before 0.8.6 could not synchronize in the period between 2015 and 2016. When the research team tried to run older versions of the software in significantly powerful hardware, they were not operational. They run Bitcoin Core 0.7.0 in a new machine with 8 intel i9 processor and a 64GB RAM, but the node still could not synchronize past the year 2016.

“Were it not for the software enhancement, Bitcoin would be dead by now due to the inability of older versions to synchronize and the significant reduction in IBD times,” the team reported.

The major improvement was on speed after developers of version 0.12.0 employed a signature verification library for Bitcoin instead of using the standard one. However, this version could not support Segregated witness (SegWit) and therefore failed to validate signatures for such transactions, further leading to a cut on sync times.

When Bitcoin Core version o.14.0 was launched, speed and sync times significantly increased due to the scalability improvements. It was after this particular node version that Bitcoin network popularity began to grow faster than scalability updates made to the software. This imbalance resulted in longer synchronization times. The research team came to the conclusion that the blockchain is growing faster than the technological innovations can keep up with and that there is a possibility of IBD times increasing.

Bitcoin developers are focused on decentralization and keeping requisite hardware specifications necessary to run Bitcoin Core software seamlessly. They have maintained a block weigh limit of 4MB with SegWit and a block time of 10 min in order to lower requirements and check the blockchain’s growth.

The blockchain currently has a size of 293.37GB, with 1MB as the average block size. According to Bitnodes, a monitoring resource, Bitcoin Blockchain has more than 9.5 thousand nodes around the world.

Bitcoin Core version 0.19.0.1 is the latest software update, and it supports Segregated Witness transactions using Bech32, further improving on scalability.

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Author: Denis Miriti