Daily Cryptocurrency News – 6th October 2018

As always, here are the most important daily cryptocurrency news:

Monero Getting Ready for Big Moves with Network Update on Oct 18

Monero, one of the largest cryptocurrencies in the world with a 10th rank in Coinmarketcap, is receiving a significant update on Oct 18. They announced preliminary information regarding this update.

One of the confirmed features will include:

  1. A new form of range proofs called Bullet Proofs – The new Bulletproof will replace the Borromean range proof, and transaction size will be reduced by approximately 80% which will lead to smaller fees.
  2. A Tweak in Proof of Work – To neutralize the possible threat of ASIC miners, the upgrade requires the miners to update their mining software and therefore reducing the need for mining pools, it will make the network more decentralized and increase security measures.
  3. An increase in minimum ring size – The new network is going to have a minimum ring size of 11 (mixin 10) and is going to be static/fixed.

BitGo Adds Stellar Lumens and DASH, CEO Says They Offer Unique Features

BitGo, the Palo Alto-based cryptocurrency startup will be adding Stellar Lumens (XLM) and Dash (DASH) to its list of cryptocurrencies.

The BitGo company markets themselves as being the “world’s most secure wallet provider” .Therefore the implementation of XLM and DASH wallets could be exciting for its holders and not only. The startup is also the largest Bitcoin processor in the world, with over $15 billion in monthly transactions with clients from over 50 countries.

Belshe explained that the addition of Dash is due to the cryptocurrency’s “instant payment” and “privacy payment” features. He claims that these features would help a lot of people. More exactly, he talked about those in countries like Venezuela, who are using Dash to avoid hyperinflation and damaging fiscal policies. He also explains that Stellar Lumens was also an obvious and clear pick for BitGo as it can bring “global payments for more consumers.”

BitGo could indeed attract more users because of its high level of security. Adding more cryptocurrencies to the platform surely will have a good impact on BitGo’s future.

Oyster Protocol Receives New Development Update, Upload Limit from 25 MB to 125 MB

The Oyster Protocol, or Oyster Pearl (PRL), is an all-new platform that enables everyday internet users to store and retrieve their files via a system that is decentralized, anonymous and secure. Files uploaded via Oyster are stored on the IOTA Tangle. Therefore, redundant duplicates are stored throughout the network topology of the Tangle, mitigating the threat of data loss. Nodes running the Oyster Protocol perform Proof of Work to guarantee that the Tangle retains the data.

Today the platform is receiving a new update that includes exciting features, such as:

Upload limit increase – Users will be able to upload 125 MB, compared to the 25 MB in the beginning. This means that now small to medium size businesses can store their data safely now with Oyster.

Rev2 –  The team will be adding some changes to the Oyster backend to support Rev2. One of the new changes will be adding the ability for the client and broker node to communicate with each other to get the treasure payload signed by the client. The benefit involving the client signing the treasure payload is that it closes an attack vector where a malicious actor could upload garbage data to Oyster’s data map. Therefore, there will be better security measures.

More features can be found here.

Blockchain evangelist Phillip Nunn says Ripple’s XRP ‘making some serious moves’

Ripple has become a popular in the cryptocurrency world, with its blockchain and its independent digital asset XRP.

Nunn, who calls himself ‘a blockchain evangelist’ has a firm opinion on the third largest cryptocurrency in the market. He claims that he has often underestimated XRP, relegating it to merely ‘payments’, while stating that ‘Bitcoin is the godfather’ of cryptocurrencies.

The ‘blockchain evangelist’ backtracked and said that Ripple has been ‘making some serious moves’. Due to the success that Ripple is going through, Nunn compared the company to tech giant Microsoft.

Philip Nunn recently tweeted:

“I’ve never been a supporter of #ripple $xrp

But boy they are making some serious moves. And the fact I have issues with their offering are being put aside for now as they become so important in flying the #crypto #blockchain flag

They will become the Microsoft of #crypto”

It is interesting how Ripple keeps surprising investors. The cryptocurrency surged more than 70% in price in September and the good news just started. It’s no surprise that the CEO of deVERE Group declared that ripple can reach $1 in 2018.

If you missed news yesterday, you can find them here: Daily Cryptocurrency News – 5th October 2018

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