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Posts Tagged ‘ Bitcoin ’

 

It has been discovered that torrent site The Pirate Bay has been operating a cryptocurrency miner. The site’s visitors learned that The Pirate Bay exploits a user’s CPU to mine Monero digital coins, through JavaScript code found on the torrent site. 

 

When users browsed specific pages on The Pirate Bay, they found a significant increase in their CPU usage before finding out that a Bitcoin miner had been embedded on the site. The miner, powered by  Coinhive, allows users to turn CPU usage into Monero coins.

 

While this only happens in category listings and search results, many users are not happy with The Pirate Bay’s move. The Pirate Bay confirmed that it was testing the miner temporarily as an alternative method to gain revenue.

 

However, users may stop the miner from utilizing their processors by disabling or blocking JavaScript, running blocker add-ons like NoScript or by using an ad-blocker to block the miner URL.


 

Luno, a popular Bitcoin platform, has announced its expansion to 35 new markets across Europe.

 

Moreover, the platform also received USD 9 million in a Series B funding round, led by London-based Balderton Capital. New investors AlphaCode and existing investors Digital Currency Group also participated in the round. This follows Luno’s USD 4 millionSeries A round, which was led by Naspers.

 

The platform enables users to buy, sell and learn about digital currencies. With a team of over 70 in offices in London, Singapore and Cape Town, Luno services will now be available in 40 countries around the world.

 

The funding will be used for product refinement and development, global expansion and to bring to market a number of new features. Luno will be hiring across all three their main hubs in London, Singapore and Cape Town.

 

 

Developers at Google, Apple and other tech companies have created a browser API that enable users buying goods and services online with cryptocurrency.

 

The World Wide Web Consortium (W3C) with the help of Microsoft, Google, Facebook, Apple and Mozilla initiated the project in 2013. Currently, the API is being implemented in browsers including Google’s Chrome, Microsoft’s Edge, Apple’s Webkit, Mozilla’s Firefox, the Samsung Internet Browser and Facebook’s in-app browser.

 

The API is based on what the group sees as a way to offer consumers more payment options and merchants a more secure online checkout. When activated, the Payment Request API will allow new payment information for Bitcoin, ether and other more traditional online payment methods to be stored directly in the browser. Users will then be able to choose from a drop-down menu of available payment methods supported, a kind of expansion on the auto-fill feature already widely enabled at checkout.

 

Nevertheless, merchants will need to integrate the API and pick which payment methods they want to accept. At this stage, customers will need to download the browser extension and signal what payment methods they use. Therefore, merchants need to build websites that acknowledge the new payment methods, while users need to have wallets that use the same protocol developers are writing.

 

The W3C is already working with third-party apps to integrate both distributed ledger solutions and non-credit card forms of payment into the API in a way that can be interpreted by merchants and consumers.

 

SatoshiPay has teamed up with the IOTA Foundation, a non-profit that oversees network development, to explore replacing Bitcoin with IOTA as its settlement network.

 

Both parties have agreed to work on a proof-of-concept project, to be supported by the IOTA Ecosystem Fund, which would combine SatoshiPay’s content payment interface with IOTA’s technology. SatoshiPay is a company that processes nanopayment transactions usually in the form of Bitcoins and has been relying on the Bitcoin network to settle payments since its product launch in 2015.

 

The move aims to phase out its use of the Bitcoin blockchain, as the underlying technology that enables its transactions, and to switch to another blockchain because of issues with the escalating costs of micropayments.

 

The IOTA network, the 8th largest cryptocurrency by the total value of its supply, according to CoinDesk, claims zero-fee transactions and does not limit the number of transactions per second of its processing. By contrast, according to CoinDesk’s forthcoming State of Blockchain report, the average transaction fee for Bitcoin blockchain was around USD 2.41 per transaction during April 2017-June 2017, up from below USD 0.02 in 2015.

 

The results of the joint proof-of-concept are expected to be presented in August 2017, according to the IOTA foundation.

 

Russian Burger King restaurants have announced that they are due to start accepting Bitcoin as a payment method.

 

A Moscow branch of the burger chain has started piloting Bitcoin payments, with officials now confirming a nationwide rollout. Burger King has also begun the hunt for an IT professional able to implement the relevant software.

 

According to a local news resource Uznay Vse, the unnamed branch already accepted a Bitcoin transaction, which represents the first official reports of Bitcoin payments for goods and services in Russia.

 

Several programs need to be written which will allow restaurant tills to speak to the Android and iOS apps and allow customers to pay with cryptocurrency.

 

 

 

Western Union has been trailing an integration with digital currency exchange Coinbase, in which the remittance company will appear within the web app of the exchange.

Currently, the project is being piloted with Western Union employees and has entered into development in 2016, company representatives said for CoinDesk. No launch date has been set, but an announcement could be forthcoming. However, the project does not address digital currency transactions, but instead, back-end for fiat transfers.

Besides the Coinbase project, the remittance company is working on other blockchain developments, as well. Using blockchain to standardize bank integrations, real-time settlement, integrated smart contracts for import/export transactions and alternative payment types or blockchain’s possible role in streamlining compliance are just a few.