Tag: Debate

Debate Intensifies Over Significance and Implications of Ordinal Inscriptions on Bitcoin Blockchain – Bitcoin News

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During the past two weeks, members of the cryptocurrency community have discussed the non-fungible token (NFT) concept known as Ordinals. Since the 3.96 MB block (#774,628) was mined, there has been a significant increase in Ordinal inscriptions on the Bitcoin blockchain. Ordinal Inscriptions on Bitcoin Blockchain Spark Debate Among Crypto Community The controversial NFT concept known as Ordinals, which uses the Bitcoin blockchain to mint inscriptions, has been a highly topical subject recently. Since its introduction, there has been a marked increase in the number of inscriptions being added to…

Bitcoin Community Erupts In Existential Debate Over NFT Project Ordinals

The protocol’s opponents argue that Ordinals will compete with traditional payment transactions by crowding blocks and driving up transaction fees. Rodarmor disagrees. “To that I say, well, there’s this fee market pricing mechanism that bitcoin has, that lets people pay the amount of fees according to how valuable doing the transaction is to them,” Rodarmor told CoinDesk in an interview. “And that applies both to financial transactions and to inscriptions. And so, the fee market already handles what people pay for transactions, what they think they’re worth and then miners…

Ordinals protocol sparks debate over NFT’s place in the Bitcoin ecosystem

The recent launch of a nonfungible token (NFT) protocol on the Bitcoin mainnet has the crypto community divided over whether it’ll be good for the Bitcoin ecosystem.  The protocol, referred to as “Ordinals,” was created by software engineer Casey Rodarmor, who officially launched the program on the Bitcoin mainnet following a Jan. 21 blog post. The protocol essentially allows for the Bitcoin version of NFTs — described as “digital artifacts” on the Bitcoin network. These “digital artificats” can comprise of JPEG-like images, PDFs, video and audio formats. Meme-inspired, NFT-like “digital…

Ordinals protocol sparks debate over the place for NFTs in the Bitcoin ecosystem

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The recent launch of a nonfungible token (NFT) protocol on the Bitcoin mainnet has the crypto community divided over whether it’ll be good for the Bitcoin ecosystem.  The protocol, referred to as “Ordinals,” was created by software engineer Casey Rodarmor, who officially launched the program on the Bitcoin mainnet following a Jan. 21 blog post. The protocol essentially allows for the Bitcoin version of NFTs — described as “digital artifacts” on the Bitcoin network. These “digital artifacts” can comprise of JPEG images, PDFs, o video or audio formats. Meme-inspired, NFT-like…

Chinese Researchers Claim Success in Breaking RSA Encryption With Quantum Computer, Experts Debate Veracity of Discovery – Bitcoin News

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According to reports circulating on the web, 24 Chinese researchers have reportedly succeeded in breaking RSA encryption using a quantum computer. This would be a significant achievement, as RSA encryption is widely used in current security practices. However, a number of experts, computer scientists, and cryptographers do not believe the researchers have made a significant discovery, based on the scientific paper published in Dec. 2022. Quantum Computing Race Heats Up as Chinese Researchers Claim Breakthrough in RSA Encryption In Sept. 2022, the U.S. Cybersecurity and Infrastructure Security Agency (CISA) warned…

Missing From the Debate About Binance’s Proof of Reserves and Auditor, One Metric Shows Another Exchange Could Be in Trouble.

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“If the exchange is not using its collateral to borrow money, it doesn’t really matter what the clean reserves are. If every customer’s crypto is fully held 1:1 in proper wallets, it doesn’t really matter,” he told CoinDesk via Telegram. “What is more important, is knowing the exchange’s liabilities amount. Knowing the reserves is one part of the equation, but more importantly, what are the liabilities.” Source

Musk fires Twitter execs, research stirs blockchain energy debate and CFTC brass shares crypto concerns: Hodler’s Digest, Oct. 23-29

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Twitter’s top brass gutted as Elon Musk’s takeover begins Elon Musk’s purchase of Twitter became final this week, after which he reportedly fired three top-level executives: CEO Parag Agrawal, head of legal and policy Vijaya Gadde and chief financial officer Ned Segal. Musk reportedly claims…

Ethereum at the center of centralization debate as SEC lays claim

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Ethereum went through a key network upgrade on Sept. 15, shifting from its proof-of-work (PoW) mining consensus to a proof-of-stake (PoS) one. The key upgrade is dubbed the Merge.  The Merge was slated as a critical change for the Ethereum network that would make it more energy efficient, with later improvements to scalability and decentralization to come. A little over a month later, however, some industry observers fear the PoS transition has pushed Ethereum toward more centralization and higher regulatory scrutiny. The Merge replaced the way transactions were verified on…