Blockchain Consortium R3 Launches Corda Network and Independent Governance Foundation

Enterprise blockchain software firm R3 has announced the launch of its Corda Network, which will be operated and overseen by a newly created not-for-profit organization, the Corda Network Foundation. The announcement was made in an R3 press release published on Jan. 16.

R3 has to date reportedly gathered over 300 partners from across multiple industries — both the private and public sector —  to collaborate on developing Corda, its open-source blockchain platform, as well as its business-oriented offshoot Corda Enterprise.

The Corda Network will reportedly serve as a base layer of identity and consensus for all participants, and allow for the transfer of data and digital assets between communities of nodes (business networks) and the different decentralized applications running on the Corda platform (CorDapps).

With identity verification and privacy provisions, the network will enable participants to create nested private ecosystems within their organization — or join together with commercial partners — to efficiently share data between approved parties, while retaining interoperability with the wider Corda community.

The Corda Network Foundation, whose directorial board will reportedly be elected by members of the Corda Network, is set to operate independently of R3.

The joint launch will aim to establish an international, transparently governed network that will make Corda adoption seamless and foster the secure and efficient development of new applications for Corda and Corda Enterprise.

Multiple Corda ecosystem participants are quoted in the press release as saying that the open governance system and oversight from a non-biased operator will be crucial to securing the success of the Corda Network and contribute toward its aim to provide a secure, trusted and efficient alternative to today’s siloed systems.

As reported, Corda has seen a wave of adoption news in recent months, most recently onboarding an American blockchain consortium and credit union service organization (CUSO).

In December, R3’s Corda-based Euro Debt Solution was used by a German-French-Dutch triad of banks to successfully complete a live commercial paper transaction; major Japanese financial services company SBI Holdings announced its partnership with R3 to boost the use of Corda in Asia; and 26 French companies and five major banks completed a Know Your Customer (KYC) test using Corda.

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Payment Network RippleNet Exceeds 200 Customers, Garlinghouse Highlights Fiat Volatility

Crypto and blockchain company Ripple has reported today, Jan. 8, that 13 new financial institutions have signed up for the RippleNet payment network, bringing the total number of customers over 200.

The new institutions range from locations including Sweden, England and Kuwait, with 40 countries in total across all customers. Ripple’s blog post notes that five of the new additions — JNFX, SendFriend, Transpaygo, FTCS and Euro Exim Bank — will use Ripple’s digital asset, XRP, for liquidity when sending customer cross-border payments.

Other institutions new to RippleNet, like the named CIMB or Olympia Trust Company, will use Ripple technology for immediate settlement and more transparency payments.

Ripple CEO Brad Garlinghouse noted in the post that RippleNet is seeing two or three new customers join each week since last year, with a 350 increase in 2018 in customers sending live payments.

Speaking to CNBC, Garlinghouse, addressing a common concern that crypto payments are a poor substitute for fiat payment due to the currency’s volatility, noted foreign currencies can also be volatile. He said:

“The average Swift transaction takes three days — but really what we’re seeing is three business days. You’re taking fiat volatility risk while markets are closed over the weekend.”

In March, SWIFT’s blockchain proof-of-concept reportedly was completed successfully with a focus on Nostro accounts — a bank’s account in a foreign currency in another bank. At the end of November, SWIFT India also partnered with a fintech firm to test a distributed ledger (DLT) network with the aim to increase the efficiency and security of financial products.

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PR: BodyOne Blockchain Ecological Network Energizes the Fitness Industry

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.

No one can defeat me as I am the one in full of oriental power”. – the classic and domineering lines in The Legend of the Swordsman – reappeared in Beijing City – the east of the world. Bin Li, who is known as a godfather of fitness club in China, InterValue, which is a leading block chain technology company with the world’s first practical Blockchain 4.0 project capable of supporting large-scale applications and DHZ, which is a professional and scaled equipment manufacturer, have combined and posted a big good message in the field of global blockchain fitness: BadyOne, the first blockchain fitness ecological network, has been launched in Beijing City, China. Meantime, the first blockchain spinning cycles equipped with BobyOne intelligent chips have also been put into mass production. BodyOne has taken a key cross-century step in the fitness industry.

As the first block chain fitness ecological network, BodyOne can realize the resources integration, data integration and data value in the fitness industry by use of block chain technology. Its playing method is initiative in the industry. “Exercising is mining and Token holders can share the profit” is the core for the application of its fitness scenes. Starting from the blockchain spinning cycles equipped with intelligent chips, BodyOne can collect the data via smart contract and data model, convert the calories burned in the users’ workout into Tokens directly, upload the data and realize the transaction value so as to create a valuable delivery and trading system in the intelligent fitness industry.

The sun rises from the east. Li Bin – the founder of BodyOne Foundation – has lots of oriental philosophical thoughts and is honored by the industry as “Father of Chinese Commercial Fitness”. Having been engaged in the fitness industry for 20 years, he knows well how lazy a person can be and how difficult it is for a person to combat his human nature. So how can he solve the problem? The answer is block chain. The Token incentive system in the Token economy is a good recipe, for it can use people’s greed to fight against their laziness.

The doctrine lies in the daily life of the masses. Li Bin applies the high-end blockchain to the down-to-earth fitness industry. Together with the experts in cryptography and PhD Barton CHAO – a senior technology expert who has developed the blockchina at the front line for 10 years, he makes InterValue – the first practical blockchain project 4.0 who can support large-scale applications – the technical supporter for BodyOne. InterValue is capable of supporting millions of TPS chains and providing a technical guarantee for BodyOne to calculate how many Tokens the users who use BodyOne quite frequently can obtain in real time and how many dividends they can receive.

Why BodyOne is so invincible? Because it follows God’s will.

As a global-oriented block chain fitness ecological platform, BodyOne advocates sharing and win-win. The ecological network is composed of the users, the fitness equipment manufacturers, the fitness service providers, the fitness instructors and the other participants of the industry. The value of the data generated by the behavior on every node of the ecological network will be connected with each other and awarded additionally through block chain technology. The behaviors in the ecological network can produce Tokens which, as an incentive for the active participation of both the users and the service providers, can stimulate and unite all the parties on the nodes. The platform will distribute 80% of its profit to the users evenly.

Moreover, BodyOne also introduces new product designs to realize openness and win-win. The ecological network has online competitive events, in which the users can register for fat burning with Tokens. As a result, the users can have a motivation to punch the clock and establish social contacts in the competitions. In the future, the users can also research and develop the projects by themselves in BodyOne Store, connect the smart devices with a chip and deliver the values. As an open platform, BodyOne has become the Apple Inc. in the fitness industry, for as long as you can meet the requirements in the contract, your projects will be shared online. However, BodyOne is more than Apple Inc., for it distributes most of its profits to the users of the ecological network. Thus, it can make the users establish the ecological network with the company and reach a win-win situation.

In order to ensure the quality of the block chain mining hardware equipment, Li Bin has conducted a comprehensive and in-depth cooperation with DHZ – a carrier level enterprise in the domestic fitness equipment manufacturers. Although its supply fell short of demand, DHZ sent a special design, research and development team, assigned special engineers to contact the American designers, the physical fitness expert team, and the BodyOne team, and even specified a special person to arrange the tolerance test of the equipment. The whole team was so excited as all was new. In both of the two Chinafit exhibitions held in Shanghai City, DHZ pushed BodyOne out as a key project. Twenty years ago, Zhou Yueming – the founder of DHZ – entered the fitness industry because Li Bin drove the industry, and this time, he decided to start again. The cooperation of two giants in the fitness industry and one master with 10-year experience in the block chain industry has sent a strong signal to the world from the east. Based on the oriental philosophy, BodyOne has truly achieved co-construction, win-win and sharing. As it follows God’s will, it is invincible.

Here comes BodyOne. Here comes the era of block chain fitness.

At present, BodyOne has gained millions of cornerstone investment mainly from the senior institutional investors such as Acapital, Achain, Btcdo, Rootscap, Huoxing Caijing, etc. and many angel investors. As a pioneer in the traditional fitness industry, Li Bin is confident. On this occasion, he will invite the partners in the traditional fitness industry, the body builders and the practitioners in the fitness industry to create “a castle in the sky” in the fitness ecological network. He believes that the blockchain fitness will boom very soon and that BodyOne will become a killer application in the fitness industry and energize the whole fitness industry.

http://bodyone.io
Telegram:https://t.me/bodyoneglobal
Facebook:https://www.facebook.com/bodyonechain/
service@bodyone.io
Wechat page:bodyonechain
QQ:789650864

Supporting Link
http://bodyone.io
Contact Email Address
service@bodyone.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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The Bitcoin Cash Network Processed 687,000 Transactions on August 1st

News

Over the last day, BCH proponents have been celebrating the ‘Bitcoin Cash Independence Day’ which marks the anniversary of the August 1 blockchain split that took place a year ago. During festivities, the BCH community sent a ton of transactions over the course of the day and on August 1, 2018, the Bitcoin Cash network processed 687,000 on-chain transactions. The metric outpaced Bitcoin Core’s (BTC) daily transaction record by over 197,000 transactions showing the world some of the benefits of a chain that utilizes larger blocks.

Also Read: Japan Tax Agency Says Individuals Earning $1,800+ in Crypto a Year Will Declare Tax

BCH Miners Process 687,000 On-Chain Transactions

Bitcoin Cash fans are celebrating an extremely productive year as the last 365 days the BCH network has had many milestones. One significant watershed moment was the number of transactions processed yesterday, on August 1, 2018, as the decentralized cryptocurrency processed over 197,000 transactions more than BTC’s record-setting day (12-14-17) of 490K. The Bitcoin Cash network handled a whopping 687,000 transactions yesterday and a great majority of transactions were sent with a network fee of less than 1/5th of a US penny. Meanwhile, the Bitcoin Core (BTC) network processed 240,000 transactions (tx) yesterday and the average fee sent was $0.67 cents per tx.

The Bitcoin Cash Network Processed 687,000 Transactions on August 1st

Not the Official Stress Test

Some people assumed a large amount of transactions stemmed from the Stress Test Day developers as the stress test will begin on September 1st. However, the development team’s official Twitter account says the enormous amount of transactions sent on August 1 wasn’t from them.

“Just be clear folks the past 24 hours we were NOT stress testing the BCH network,” explains @Stresstestbch.

We were simply testing the scripts to be used to stress test the BCH network scheduled for September 1st 2018 12:00 UTC. Although we did prove BCH can scale on-chain unlike BTC.

The Bitcoin Cash Network Processed 687,000 Transactions on August 1st
Bitcoin Cash proponents have shared lots of BCH vs BTC comparison charts on Reddit and Twitter the day after August 1.

The Mempool That Doesn’t Cry “Spam”

Of course, Bitcoin Cash fans were thrilled to hear the news about the number of transactions processed as people shared many pictures of Johoe’s Mempool statistics and the 8-bit websites TX Street and TX Highway. In addition to the transaction count, there were many large blocks processed by Bitcoin Cash miners. For instance, Viabtc and an unknown mining pool verified blocks that were 3MB, 6MB, and 8MB in size. As each block was verified the transactions pending in the mempool cleared with one fell swoop.

The Bitcoin Cash Network Processed 687,000 Transactions on August 1st
BCH and BTC blocks processed on August 1, 2018.

687,000 transactions in one day is quite the feat and with the average transaction fee of around $0.003 per tx and the median around $0.002 per tx its safe to say that BCH can perform under pressure. One individual on Twitter explains that a healthy mempool that gets tons of transactions thrown at it and experiences no issues is a bit different than what took place with BTC this past December.    

“This is what a healthy mempool looks like when it is getting half a million TXs thrown at it —  The mempool doesn’t cry “spam” and throw its ball down and leave the playground,” explains Mr. Scatman.   

Incoming spikes get processed by the BIG BLOCKS and the chain keeps trucking.

What do you think about the 687,000 on-chain BCH transactions processed yesterday? Let us know your thoughts on this subject in the comment section below.


Images via TX Highway, Bitinfocharts.com, Reddit, Blockchair, and Twitter.


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Chinese Social Network Tianya is Launching a Native Cryptocurrency


The Tianya Community in China, a social network of 130 million users that seeks to create the country’s most influential platform for content and knowledge creation, has announced a blockchain based initiative to rebuild its ecosystem.

The new ecosystem will launch on Aug. 8 and will make use of a blockchain based token, TYT, according to a recently posted notice to the community.

Redesign Inititative

The Tianya Community has achieved rapid growth in just a few years with its “netizen” self-organizing model, the notice stated. The community, following six months of research and design, has deployed blockchain technology to rebuild its ecosystem to allow each citizen to participate in the community’s self governance.

The Tianya Community is one of several projects of Tianya Community Network Technology Co., Ltd., a service platform founded in 1999 in Hainan, China, and has branches throughout China and Singapore, as well as the United States.

The Tianya Token (TYT) will be the only accounting vouchers under the new ecosystem. There will be a limit of 90 billion tokens. Users will receive tokens based on their contributions to the community.

The tokens will primarily be used to complete transactions within the community.
The community will reserve 20% of TYT for team incentives, as well as promoting the operation and ecological development.

Eighty percent of the TYT will be allocated for community behavior rewards. Users will be rewarded for participating in governance and creating content. The release of tokens will be reduced every year over a 20-year period.

The notice includes an explanation of the rules by which tokens will be released to participants.

Also read: Chinese crypto giant Huobi launches billion-dollar blockchain fund

Huobi Labs Lends Its Support

Huobi Labs, a blockchain incubator that is part of the Huobi cryptocurrenecy exchange, signed an agreement with the Tianya Community in May to build a “Global Cultural and Creative Blockchain Lab” in Hainan Province. Huobi Labs also launched a billion-dollar industry fund to support the blockchain industry globally.

The Chinese government, meanwhile, under its “new era of Chinese socialism characteristics,” has provided the Hainan Special Economic Zone a mission of economic reformation. The national strategy was planned, deployed and promoted by President Xi Jiping.

Featured image from Shutterstock.

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Major Chinese Social Network Tianya to Launch Native Cryptocurrency Token

One of China’s top twenty-five websites, social network Tianya Club, announced it was releasing an internal blockchain-based token July 25.

In a blog post, Tianya said its 90 bln Tianyan Tokens (TYT) would function as a kind of rewards system and run in parallel to its existing Tianya Diamond token, which is not cryptographic. 

Provided users have a sufficient number of Tianya Diamond, they will receive TYT, with a total of 80 percent of supply distributed to members. The remaining 20 percent will go towards operational requirements.

“After half a year of research and design, after many rounds of communication with users, the Tianya sub-system based on blockchain technology has taken shape, and will be launched on August 8th for the public,” the platform confirmed in its post.

Speaking about its impetus to create the token, Tianya struck a non-conformist tone.

TYT was a result of the platform “adhering to the spirit of blockchain consensus, co-construction, decentralization, based on blockchain technology to reconstruct the Tianya community ecosystem,” the post states.

While technical specifications about TYT remain undisclosed, the release comes as Initial Coin Offerings (ICOs) remain on lockdown in China. As such, beyond its use as a form of status, TYT may not function as a tradeable altcoin.

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S. Korea’s Top Telephone Company Reveals Its Own Blockchain Network

State-owned KT Corporation, South Korea’s largest telephone company, has announced the launch of its blockchain-powered commercial network. The firm has built a blockchain layer on top of its existing nationwide network in order to make it “more secure and transparent,” according to an article by The Korea Herald published Tuesday, July 24.

The news outlet reports the head of KT Blockchain Center Seo Young-il as saying that blockchain tech can be used in telecommunications for secure and efficient data management. Seo added:

“The whole point of applying blockchain to networks is to address security and transaction issues by making the current networks more secure and trusted.”

With its new network, KT plans to allow its individual and corporate clients to store and transfer their digital data with “less hacking risks,” The Korea Herald further reports. The network has a claimed capacity of 2,500 transactions per second (TPS), compared to Bitcoin’s (BTC) 3 TPS and Ethereum’s (ETH) 15 TPS.

KT Corp. also has plans to offer blockchain-based roaming services with international mobile carriers, such as NTT Docomo, the top provider in Japan. According to The Korea Herald, the use of blockchain will allow the company to calculate roaming bills in real time and improve the speed of internet connection for customers.

Cointelegraph reported on July 6 that KT Corporation has joined the Carrier Blockchain Study Group (CBSG), a global blockchain consortium of telecom companies whose goal is to create a cross-carrier blockchain ecosystem with such capabilities as “[cell phone] top-up, roaming wallet, secured clearing and settlement, personal authentication [and] IoT applications.”

The blockchain market in Korea is expected to grow 20 times over in four years – from $44 million in 2018 to about $887 million in 2022 – The Korea Herald reports, citing the country’s Ministry of Science and information and communications technology (ICT).

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Nervos Network Blockchain Startup Secures $28 Mln From Sequoia China, Polychain Capital

Nervos Network, a Chinese blockchain startup founded by a former researcher and developer of the Ethereum Foundation, has announced today July 18, that it has raised $28 million to develop its enterprise blockchain solutions.

According to a statement shared with Cointelegraph, Nervos has secured investment from a number of blockchain-related enterprises, including crypto hedge fund Polychain Capital and venture capital firm Sequoia China.

Nervos will use the new capital to expand its product and engineering teams, accelerate development of its enterprise blockchain solutions, and form strategic partnerships. The company is aims to provide a hybrid solution that combines a secure public blockchain and an application chain. This will reportedly let enterprises develop and deploy decentralized applications (DApps) “without committing their entire tech stack to the blockchain.”

Co-founder and chief architect of Nervos Jan Xie said in the statement that the investment will allow the company to “move full speed ahead as we build an infrastructure that will allow enterprises to reduce the costs of developing and deploying blockchain applications.”

The interest in investing in cryptocurrency and blockchain projects is shared by other venture capital firms around the world. Last week, an American venture capital firm Lightspeed Venture Partners raised $1.8 billion, which it plans to invest in startups active in fields from cryptocurrency and biotechnology to the cosmetics industry.

This spring,  Rockefeller’s venture capital Arm Venrock Partners announced a partnership with crypto investment group Coinfund to support cryptocurrency and blockchain business innovation.

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