Cryptocurrency and blockchain technology has been making headlines recently, with many positive developments and advancements. These include the growing acceptance and adoption of cryptocurrencies by mainstream companies and financial institutions and innovative blockchain-based platforms and applications, such as point spread betting on sports events using smart contracts for more transparent and secure transactions.
Owen Vaughan on IPv6
The inaugural IEEE Exeter Blockchain Event was a gathering of brilliant minds from around the globe, all converging at the University of Exeter to share the latest blockchain, Bitcoin, and IPv6 innovations. Among the esteemed speakers was Dr. Craig Wright, who illuminated how IoT can seamlessly integrate with blockchain to connect us.
Owen Vaughan, Director of Research for nChain, sat down with CoinGeek Backstage reporter Becky Liggero for an exclusive interview. Vaughan delved into the cutting-edge research and projects his company is undertaking, emphasizing their primary focus: IPv6.
Vaughan highlighted the connections between IPv6 and Bitcoin, explaining that the former inspired the latter. He stated that “IPv6, well, the final design was proposed in 1998, and in Bitcoin, of course, that was 2009. But you can see they have a very similar structure. So you have source addresses, destination addresses, and a payload in IPv6, and we can have the same in Bitcoin. We have source and destination addresses, and we can also add data to the transaction.”
He also noted the striking similarity in packet size, with IPv6’s largest packet size being 4GB, comparable to the largest possible Bitcoin transaction.
The Strength of BSV
The true strength of blockchain technology lies in its ability to handle large quantities of data while keeping fees at a reasonable level. In an interview, Chief Bitcoin Historian Kurt Wuckert Jr. stated that many blockchains on the market could handle hundreds of thousands to even a million transactions per day, such as Ethereum.
At the Unbounded Capital Summit in New York, Wuckert discussed the history of blockchain and its current state. He emphasized that none can compare to Bitcoin SV (BSV), which set a record by processing 35 million transactions in a single day last September.
In addition to its impressive scalability, Wuckert emphasized the importance of strengthening the blockchain ecosystem by building a skilled workforce and fostering startups. He shared that his team is working towards this goal in South Florida.
Making Gaming Easy Through Crypto Payments
The Unbounded Capital Summit in New York City brought together investors, industry leaders, and enthusiasts from the Bitcoin world to examine recent advancements in blockchain technology and explore how entrepreneurs can revolutionize how people interact on the internet.
Isaac Morehouse, Co-Founder and Chief Marketing Officer of PartnerHacker, participated as a moderator, and at the event, he delved into the utility and benefits of using micropayments.
In a conversation with Becky Liggero, Morehouse shared that his team is focusing on integrating micropayments – the most significant innovation of Bitcoin- in applications instead of creating “crypto” projects and that the Bitcoin SV blockchain is crucial for driving the adoption of small payments online.
Morehouse also emphasized the ease of use of micropayments, as they do not require additional steps, making transactions fast and straightforward.
When questioned about the challenges of implementing micropayments globally, he cited the public’s need for more understanding of such transactions. He stated that people need to focus on digital currencies suitable for micropayments and have potential real-world use cases, such as BTC and Ethereum.
Islamic Banking On Blockchain
As the CEO of the AlHuda Centre of Islamic Banking and Economics, Muhammad Zubair Mughal is at the forefront of the Islamic finance industry, which has grown to a staggering $3 trillion globally.
In a conversation with CoinGeek Backstage, he shared insights on the advancements in the sector and how it is integrating with the blockchain and digital asset space. The AlHuda Centre, dedicated to providing Sharia-compliant financial services, offers advisory services to hundreds of clients from over 50 countries.
As the crypto world embraces new changes, there’s more to look out for in the coming years.