Bitcoin Cash Had a Long-Awaited Hard Fork on Its Network 50

Bitcoin Cash Had a Long-Awaited Hard Fork on Its Network

According to the announcement of the Bitcoin Cash developers, the network hosted a major update on the 15th of May aimed at the hard fork.

Officially, the blockchain protocol on the block 530356 was updated at 19:54 (Kyiv, Moscow). Due to the changes, the block volume was increased from 8 MB to 32 MB, which will allow to build up information about the transactions and reduce the fee.

Additional preparatory procedure, prior the main update, had to be carried out by the miners and other complete nodes. It was updating its clients version on Bitcoin ABC 0.17.1, Bitcoin Unlimited and Bitcoin XT. Updates supportign the new hard fork have been released.

Moreover, a number of other innovations occurred on the network in addition to the main changes. One of them is the integration of OP_CODES, which will provide the opportunity to create smart contracts.

The developers note that the OP_CODES code was re-enabled, as previously it was removed by Satoshi Nakamoto in 2010. Such a step will return the former functionality intended for the creation of smart contracts and will open access to other innovative functions.

Another noticeable update of the Bitcoin Cash network is an increase in the allowable limit for the default carrier data from 80 to 220 bytes, which will make OP_Return work more reliable.

We remind you that another update of the Bitcoin Cash protocol is announced for the November of 2018.

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The Japanese bank MUFG Will Launch Its Own Cryptocurrency 160

The Japanese bank MUFG Will Launch Its Own Cryptocurrency

After loud statements by Buffett and Gates concerning cryptocurrency, it seemed that at least the state institutions of countries would refuse from it, but a Japanese bank Mitsubishi UFJ Financial Group still decided to acquire its own cryptocurrency, MUFG Coin, in 2019.

“Regarding the speculation (in) media reports, these reports are not based on any announcement by MUFG, and the details have not been decided,” the bank’s spokesman said in an emailed statement to Reuters. “However we can only say that it’s true that MUFG is conducting demonstration experiments on the ‘Coin’ within the company utilizing a blockchain technology.”

According to NHK Japan, the digital currency MUFG Coin will be tested for suitability in several regions of the country. 100,000 people who are associated with the company will be able to participate.

Representatives of the bank will provide an opportunity for users to use the cryptocurrency as a means to pay for goods and services in shops and institutions. The bank’s digital currency can be transferred to the accounts of those who participate in the project. If the idea is successful, then MUFG will be the first Japanese bank that has its own digital currency.

The MUFG coin can be used exclusively in Japan. In the world market it can be traded in pairs at non-financial currency exchanges instead of USTD (Tether cryptocurrency, tied to the dollar).

Those people who have downloaded and installed an application that automatically converts deposits into MUFG Coin will be able to take part in the test of the new currency. The cost of one coin is equal to one yen.

We remind you that the management of Mitsubishi UFJ Financial Group announced its intention to launch a  cryptocurrency exchange with the national currency, as well as a service with split Bitcoin-accounts.

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Cryptocurrency Advertising Was Banned on the Bing Search Engine 71

Cryptocurrency Advertising Was Banned on the Bing Search Engine

According to Investing, the search engine Bing, which belongs to the largest corporation Microsoft, will no longer display ads on cryptocurrencies, blockchain technology and products related to digital currency.

“Because cryptocurrency and related products are not regulated, we have found them to present a possible elevated risk to our users with the potential for bad actors to participate in predatory behaviors, or otherwise scam consumers.” wrote Melissa Alsoszatai-Petheo, a Bing advertiser policy manager, in the announcement. “To help protect our users from this risk, we have made the decision to disallow advertising.”

The updated policy on financial products and services will go into effect worldwide in June, and the enforcement will begin in late June or early July. Although Bing is not the most popular search engine, but the market of cryptocurrencies reacted to the news with a fall.

We remind you that earlier such global media, as Facebook, TwitterGoogle and YouTube refused to display ads of cryptocurrencies.

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