Market Analysis Report

Bitcoin Core Roadmap Unveils Signature Optimization Plan

The Bitcoin Core development team has released a new technology roadmap that reveals the plan to upgrade Bitcoin's current digital signature algorithm from EDSA signature to "Schnorr signatures. By making the switch, developers argue they can decrease the total data in bitcoin's blockchain by up to 25%. The post describes:

"Assuming every historical signature would be reduced to 1 byte, except for one per transaction, analysis suggest[s] the method would result in at least a 25% reduction in terms of storage and bandwidth."

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Possible Outcomes to the Scaling Debate

The Bitcoin network is currently at a turning point. 1MB blocks can no longer serve its user base and a solution is desperately needed in order for Bitcoin to continue growing. We have seen what happens when the network reaches full capacity. A fee market is created where miners have an incentive to only include transactions with the higher fees, while others are left behind and take several blocks to process.

However, there is more than one scaling solution on the table and it is hard to know what is going to happen. Currently, Bitcoin core’s SegWit, Bitcoin Unlimited and an immidiate increase to 8MB blocks are competing for miner approval. We explore what may happen in each scenario so that you may know what to expect.

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Report: Bitcoin Social Media Scams Are On the Rise

The rise in popularity and price of bitcoin has led to greater instances of scams perpetrated through social media, according to a new report. The company said it identified 3,618 bitcoin scam URLs, which were shared on average 24 times per day during the observation period which started in early March. The paper goes on to claim that curated bitcoin scam URLs had been shared over 126 million times in total. Excluding two major outliers, each identified URL was shared on average of 5,367 times since its creation.

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How to Avoid Scam ICOs?

In the Blockchain space, crowdfunding has become extremely popular. These campaigns usually occur in the form of ICOs (Initial Coin Offering), which consist in offering tokens from the project in exchange for Bitcoin, other cryptos or national currencies. ICOs have become so common that is not unusual to see a new one being launched more than once a week. However, it can be very hard to tell the good apart from the bad. As so, we have created a guide that is sure to help you keep clear of scam ICOs.

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