BitMex Research Suggest Bitcoin Ecosystem is Thriving With Diverse Development Work

2020-3-29 21:12

In the wake of the coronavirus outbreak, the financial institutions have come to a standstill and governments around the globe are pumping and printing fiats at their will to keep it going. Bitcoin, the decentralized digital currency which was created in the wake of the 2008 financial crisis also registered a massive drop of almost 50% leading to panic selling.

Apart from the price drop, the Bitcoin network has also seen falling hashrate input, decreased mining difficulty which created a sense of uncertainty among many. However, a recent report from BitMex Research suggests that Bitcoin is going strong and the network is healthier than that of 2014.

The research report suggests that the development of the Bitcoin network is getting stronger not just from the Bitcoin core community, but the contribution has poured in from different walks of the crypto ecosystem who are continuously working to make the network more scalable.

Lightning Lab and Blockstream Biggest Contributors Source: BitMEX Research

The BitMex report revealed that Lightning Lab and Blockstream are the biggest contributors to the Bitcoin network. Both these platforms have continuously worked on scaling the sidechain solutions. Bitcoin’s scalability has been one of the biggest talking points in recent times and layer 2 solutions in the form of lightning network and liquid are being actively developed as a sidechain to contain the congestion on the main network.

Twitter CEO Jack Dorsey’s Square app comes in the third position in terms of their contribution to the Bitcoin network. Square is well-known for its belief in the lightning network and has worked in accordance with them to make it more reliable and user friendly.

The research also makes note of independent developers contributing to the network and believe there are at least 33 core developers working on the platform, but there are many other anonymous contributors as well which cannot be easily tracked.

Altcoins Do Not Enjoy Same Diversity in Development

While it’s very evident from the research that the Bitcoin network still attracts a lot of developers both known and unknown to its platform, the same does not hold true in the case of altcoins. The research report revealed that the development community for the majority of the altcoins is quite centralized.

Ethereum and IOTA top the list with over 100 developers working on the foundation tram. While centralization in the developer team has its drawback, it also ensures a clear vision for the platform which streamlines the flow of development and subsequent progress of the network.

As for the financial aspect of the development, the exact details of the funding is obscure as contributions pour in from many non-profit organizations like Chaincode Labs and MIT DCI, while the likes of Square and Blockstream has raised significant amount as well.

Bitcoin (BTC) Live Price 1 BTC/USD =$6,110.7231 change ~ -0.29%

Coin Market Cap

$111.79 Billion

24 Hour Volume

$5.06 Billion

24 Hour VWAP

$6.18 K

24 Hour Change

$-17.9074 var single_widget_subscription = single_widget_subscription || []; single_widget_subscription.push("5~CCCAGG~BTC~USD");

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 97489.58 (+0.83%)
Объем 24H $98.901b
Изменеия 24h: 3.51 %, 7d: 9.65 %
Cегодня L: $94006.77 - H: $98156.69
Капитализация $1928.878b Rank 1
Цена в час новости $ 6093.18 (1499.98%)

wake financial bitcoin decentralized digital currency going

Источник: bitcoinexchangeguide.com

wake financial → Результатов: 30


Фото:

FATF-Driven Delistings Capture the Criminalization of Privacy

The delisting of privacy coins like monero, zcash, and dash is becoming something of a trend in Asia, and could soon expand elsewhere. In the wake of the intra-governmental Financial Action Task Force (FATF) issuing new global standards, Korean exchanges Okex and Upbit have announced they will delist and put warnings on several privacy coins […] The post FATF-Driven Delistings Capture the Criminalization of Privacy appeared first on Bitcoin News.

2019-9-17 11:30


Фото:

deVere Chief Executive: Boris at No10 Bodes Well for Bitcoin

Chief Executive of deVere financial group, Nigel Green, predicts that fears of a no-deal Brexit will drive UK investors towards Bitcoin, if Boris Johnson becomes the next British PM. Hard Brexit Boris Contemporary UK politics is going through the motions of deciding yet another Prime Minister, in the wake of Theresa May stepping down from office at the start of the month.

2019-6-22 18:00


Bitcoin (BTC) Only Saw 2 Red Yearly Candles in 8 Years; Top Crypto Surged 194,409,702%

In 2018, Bitcoin went through a brutal crypto winter, however, as a matter of fact, there was never any winter. The leading cryptocurrency has been enjoying gains throughout its 8 years. Bitcoin was created in the wake of the financial crisis in 2008 by an unknown person named Satoshi Nakamoto. A digital currency that can’t […]

2019-5-31 16:31


Major exchange eTrade reportedly integrating Bitcoin and Ethereum for 5 million users

According to the New York Times journalist Nathaniel Popper, eTrade, a US-based major financial assets and stocks exchange, is preparing to integrate bitcoin and ethereum for 5 million users. “In the wake of TD Ameritrade quietly opening Bitcoin trading for some of its customers, I was just told that eTrade is preparing to begin offering […] The post Major exchange eTrade reportedly integrating Bitcoin and Ethereum for 5 million users appeared first on CryptoSlate.

2019-4-27 00:42


The Financial Future Of Decentralized Monetary System In The Coming Years Will Be Profound

The Future Of Decentralized Monetary System In The Coming Years Handling money and financial transactions have evolved in the wake of civilization and technological advancement. In the early times, the safety of one’s assets can be guaranteed in how discrete the holder of such an asset is in keeping them. Before the establishment of banks, […]

2019-2-21 01:24


Фото:

Lithuanian Government Explores the Threats and Opportunities With Cryptos

Lithuania is exploring new ways to learn about cryptocurrencies and see how the controversial yet revolutionary financial concept can fit into its economy. In the wake of this situation, the Financial Crime Investigation Service (FNTT) prepared a report detailing the threats and potential benefits of the crypto industry to the local economy, especially in the context […] Lithuanian Government Explores the Threats and Opportunities With Cryptos was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-10-9 13:49


Japanese Regulator Set to Improve Cryptocurrency Regulations to Combat Speculative Investments

Japan’s Financial Services Agency is reportedly taking steps to update the country’s cryptocurrency regulations in a bid to combat the rise of speculative crypto investments in Japan. The Need for Improved Cryptocurrency Regulations The Japanese Financial Services Agency (FSA) is looking to improve its regulations on cryptocurrencies in the wake of speculative investments.

2018-8-10 22:27


Bitcoin, Ethereum, XRP and other coins to be protected better with the new bill, says South Korean official

On 25th July, South Korean officials made it clear that the country’s governing bodies must come together to enforce cryptocurrency regulations. This comes in the wake of major hacks that has threatened to destabilize the financial markets as well as dissuade people from adopting cryptocurrencies on a larger scale. South Korea is making a steady progress […]

2018-7-27 23:34


India’s Zebpay Exchange Remains Confident in Financial Regulator’s Lifted Crypto Ban Possibility

India’s Financial Regulator’s Crypto Ban Might Be Lifted RBI, India’s Central Bank recently admitted to not having done thorough research on cryptocurrencies before issuing its crypto ban. This comes in the wake of a reply sent by the bank to a Right to Information query filed by a lawyer. Copies of the communication have been […]

2018-7-13 23:17


Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Record $2 Trillion Deposited in the US Banks During Covid-19 Pandemic

Cash remains the king! According to FDIC data, a record $2 trillion in cash was added in the deposit accounts of US banks since the coronavirus first struck in the country in January. In April alone, the money flowing into banks grew by $865 billion, more than the record for an entire year. “Any way […]