Baidu Launches Its Super Chain: Whitepaper Explains All the Details of the Platform

baidu launches super chain

The word “blockchain” does not seem to be anything beyond fantastic, but the phrase “creating one’s own blockchain” can still arouse the interest of many people. Earlier, we talked about the fact that North Korea allegedly introduced the blockchain technology to circumvent US sanctions, but the Chinese search giant Baidu was brave enough to declare the creation of the “Super Chain” network by releasing a Whitepaper V 1.0.

The document talks about the possibility of commercializing one of seven applications built on Super Chain, namely blockchain-as-service (BaaS). Moreover, the nodes of this independent network use multi-core parallel computing that help Super Chain Baidu to be more efficient in comparison with the usual, “traditional” blockchain.

Whitepaper also states that Baidu has a root chain that controls parallel and side chains, and also optimizes the parameter performance of the entire network. Parallel chains select a consensus mechanism through the built-in mechanism of pluggable consensus.

The system is aimed at quality control of products, as well as quality of production. The sphere of use includes tourism, social networks, intellectual property, etc.

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The SEC Creates a Special Department to Keep an Eye Open for ICOs

The US Securities and Exchange Commission came out with a press release announcing the opening of the FinHub, a brand-new subdivision of the agency.

The main tasks of the Hub will be:

  • giving a chance to the general public to communicate with the SEC regarding fintech questions;
  • spreading information related to fintech;
  • announcing all the major events in the sphere of fintech
  • publishing all new fintech regulations and decisions of the SEC
  • serving as a linking point of various internal and external financial regulators;
  • etc

As said by the head of the newly emerged department:

By launching FinHub, we hope to provide a clear path for entrepreneurs, developers, and their advisers to engage with SEC staff, seek input, and test ideas.”

Since ICO is a major fintech activity, it will also be under the strict control of FinHub.

We remind you:

SEC’s ETF Decisions Will Come Out In October

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A New York Resident Carried Out a $2.5 Million Bitcoin Scam

A man named Nicholas Gelfman was accused of violation of multiple financial regulations. Now the man has to pay a fine in the amount of 2.5 million dollars in order to cover up all the losses caused by him.

Gelfman was running a company Gelfman Blueprint, Inc. (GBI) which offered its investors quick, safe and profitable crypto trading services.

Obviously, the whole thing turned out to be a huge scam. The victims ended up paying big amount of money in commission fees and getting no profit from trading whatsoever.

The case is currently under the US Commodity Futures Trading Commission’s investigation.

We remind you:

The Loudest and Boldest Crypto Crimes of All Times

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John McAfee Will Shine the Light on Crypto

A crypto personality John McAfee took quite a serious position regarding his presidential campaign in 2020. He shared a couple of interesting details with his future electors

McAfee claimed that the main focus of his campaign is going to be blockchain, its implementation in various sphrese and raising awareness about this technology as well as cryptocurrencies among the people.

If we accept the Blockchain as our guiding light, our hearts and our minds can be free,” he added in a rather poetic way.

We remind you that McAfee does not actually want to become the President of the US, he just wants to run for the post. Here is why:

Why Is John McAfee Not Planning to Be the President?

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Monero Forked Successfully: Details of Upgrading

Hardly had the vulnerability been detected, when Monero forked victoriously. This happened yesterday, on October 18, without any big problem in the network at all. “Monero 0.13.0 “Beryllium Bullet” is the name of the release, which implemented bulletproofs inside the network’s protocol.

https://twitter.com/monero/status/1052939409392365568

The main advantage of bulletproofs is that users obtain more privacy hiding the amount of assets they send in transactions. But how to verify them? A special logarithmic math was implemented. Though, this feature is only available for huge-cap networks.

In addition, the protocol brought cheaper fees and faster transactions. To sum up, this upgrade enables Monero to remain best privacy coin.

We remind you

Binance Has Had a Number of Major Upgrades

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The U.S.-China Trading War Influences Cryptocurrency World, Bitmain Suffers Most

Not long ago, we discussed that Bitcoin was in danger, since Chinese authority was able to attack it any time. The US decided to keep up with opponents and stroke the crypto world of China, namely crypto asset industry.

These two countries are currently in a state of trading conflict, introducing tariffs on goods traded with each other. In June the USA changed the classification of ASIC miner, called Antminer S9, in a way that Chinese miners can be at a loss. That month the “electrical machinery apparatus”, the given category to the ASICs, had a 2.6% tariff.

Later in August, the tariff raised by 25 per cent. At the moment, Chinese mining producers deal with the fee of 27.6 per cent on their US shipments.This action has a colossal impact on Bitmain, the company based in Beijing and being the biggest Chinese mining hardware maker.

Bitmain tried to cope with the pressure by filing for a Hong Kong IPO. It could reportedly rise $3 billion. The company’s filing also mentioned the fact that about 62.8% revenue came from overseas in first half of 2018, though there was no comment on how many sales had come from the US.

The crisis came to Bitmain at a very bad time. IPO filing showed the company’s turnover dropped in second quarter of 2018 drastically, losing about $400 million in compare to $1.1 billion net profit in the first quarter.

One of the analysts, Mark Li, reckons the US tariffs aim at making Chinese hardware less competitive than opponent ones produced in other countries. He also added that Bitmain’s boardship is more aware of technology arms race, where the company is falling behind

The cold trading war between China and States can last for a long time, yet no one is sure how much loss or profit it can bring, we are only able to watch and wait. Now we want to remind you

Mining Complexity: What It Is and Where It Will Get

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A Man in Norway Was Killed after Selling Bitcoins

As reported by the Norwegian news outlet, a 24-year-old man was slaughtered to death after he sold Bitcoins for a big amount of money in person.

Supposedly, the victim met with the buyer and then brought the received money back to his apartment in Oslo. A few hours later, his body was discovered by one of his roommates.

The law-enforcement agencies are currently investigating the case. The police officer in charge of investigation claimed:

We know about possible connection with Bitcoin, but we cannot yet provide any information of the case.

Unfortunately, the number of Bitcoin-related crimes is growing. We remind you:

A Jealous Woman from the USA Wanted to Kill Her Rival, Having Paid in BTC for It

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