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Origin Protocol Seattle Demo and Meetup: Road to Mainnet

Origin Protocol Seattle Demo and Meetup: Road to Mainnet
We are excited to host our first official Origin meetup to celebrate our friends in Miami!  Schedule 4:00pm – 4:15pm: Welcome 4:15pm – 5:00pm: Demo and Pitch (Andrew Hyde, Head of Community) 5:00pm – 6:00pm: QA / Hangout What Is Origin Protocol? Origin is building a platform that enables the creation of many decentralized marketplaces, allowing buyers and sellers to connect and transact directly on the blockchain. The company is building a set of protocols, developer libraries, and a decentralized application using the Ethereum blockchain and IPFS, with an initial focus on disrupting sharing economy marketplaces. Origin's mission is to reduce or remove transaction fees, promote open and transparent commerce, redistribute value more fairly to buyers and sellers, and empower the 2 billion currently unbanked individuals around the world to participate in digital marketplaces. Origin Protocol Telegram:  t.me/originprotocol Origin Protocol Medium: https://medium.com/originprotocol Origin Protocol Facebook: https://www.facebook.com/originprotocol/ Origin Protocol Youtube: https://www.youtube.com/originprotocol What is ERC 725? ERC 725 is a proposed standard for blockchain-based identity authored by Fabian Vogelsteller, creator of ERC 20 and Web3.js. ERC 725 describes proxy smart contracts that can be controlled by multiple keys and other smart contracts. ERC 735 is an associated standard to add and remove claims to an ERC 725 identity smart contract. These identity smart contracts can describe humans, groups, objects, and machines. ERC 725 lives on the Ethereum blockchain. Come for a demo of ERC 725 from us working on the future of self-sovereign identity. Best Way to Get Involved? Developers join the Origin Protocol Weekly Call: https://www.originprotocol.com/en/developers Jobs posted here: https://angel.co/originprotocol/jobs
starting on 2018-12-11 16:00:00

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Bitcoin Cash Network Shrugs off Mempool Backlog With Relative Ease

Network congestion is a problem most users would associate with bitcoin or Ethereum. Both of these networks have seen their fair share of issues in this regard. bitcoin Cash saw its transaction backlog grow quite spectacularly this morning. For several hours, someone – or a group of people – were flooding the network with very low-fee transactions. As a result, there was a minor delay in transactions, although things were well within the acceptable limits.  Why any of this is happening right now, has yet to be determined.

bitcoin Cash has not been subject to major spam attacks as of yet. bitcoin, on the other hand, seems to get clogged up with transactions every other week. Keeping this in mind, it’s not surprising to see so many people flock to BCH in recent weeks. This has caught the attention of whoever is responsible for the current “spam” on the BCH blockchain. More specifically, there have been a ton of new transactions to fill up the blocks rather quickly. A rather worrisome development, although things were handled relatively well.

bitcoin Cash Handles the Business

The big question is why anyone would flood the BCH network with low-fee transactions. At a price of 1 Satoshi per byte, inflating overall fees would be rather difficult. After all, users can easily pay double that and not have their transactions delayed. Even with the higher fee, Bitcoin Cash remains a lot cheaper than BTC right now. With this cost in mind, it would cost approximately $16,000 to flood the network for an entire day. That doesn’t seem like much money, thus it is possible this is a well-orchestrated attack. For now, there is no solid evidence to back up such claims.

Unlike what one would expect, this issue has not caused many problems. The bitcoin Cash mempool has been cleared relatively quickly and things are returning to normal. If this was an attack, it was a very weak attempt at causing permanent damage. If such an issue were to affect bitcoin, the fees would skyrocket and transactions backlogged for 24 hours or more. Having a larger block size can be rather beneficial in this regard. It also shows how BCH is better at scaling compared to bitcoin, at least for now.

Whether or not this is a prelude to more attacks, remains to be seen. No one will be surprised to see issues like these arise again in the future. The “fight” between BTC and BCH supporters is far from over Although it’s not exactly a turf war, hostilities are not entirely uncommon either. Attacking a network with low-fee transactions is despicable We don’t know if that is what has happened to bitcoin Cash, though. In the end, the issues seem largely resolved, which is a positive sign.

Header image courtesy of Shutterstock

The post Bitcoin Cash Network Shrugs off Mempool Backlog With Relative Ease appeared first on NewsBTC.

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