Gold Backed Digital Assets Gain Popularity In International Market

Digital assets have been synonymous with cryptocurrency in recent years. But, there is new asset-building up in the international market which is likely to replace cryptos in the upcoming times. Gold backed digital assets are the new hot topic which is noticed after the successful collaboration between the gold industry and blockchain firms.

The most recent news has come from Goldlinks, Global gold industry blockchain alliance that has confirmed its strategic partnership with Mongolian-based gold mine Erd Khul LLC. The primary objective of this association covers assistance on mining, mine acquisitions and the creation of gold-based assets. The big gold mines are allegedly looking forward to creating more wealth by synergizing gold-backed digital currencies which is a completely novel format.

Goldlinks has been already in the gold-backed digital assets and has successfully launched Global Gold Cash (GGC). This is operated on a blockchain powered platform which is supported by gold on the rear end. The current value of 100 GGC is equivalent to 1 g of physical gold which must have 99.9% purity. GGC has achieved its first milestone after being accepted in the international trade settlement which in fact highlighted its presence in the international media too. In addition to this, there is a utility token called as GGT that is being issued only to the Goldlinks community members, as mentioned by Im-Mining.

Gold Backed Assets In The Market

There are several cryptocurrency exchange operators across the world that have recognized gold-backed assets and have included them in their lists. One such recent addition has happened in crypto custodian BitGo which has now begun using Digix’s gold-backed digital token, according to Coin Journal.

The gold-backed digital assets are sued in the form of DGX token. This token is backed by 99.99 percent gold cast bars from London Bullion Market Association-approved refiners (one token is equal to one gram gold). The gold can be redeemed with the DGX token at the vaults available in Singapore.

The post Gold Backed Digital Assets Gain Popularity In International Market appeared first on OWLT Market.

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Please set up your nodes to collect data for the stress test tomorrow.

Please make sure you have NTP or timesyncd installed and active, or another form of clock synchronization, and please enable debug=bench and do anything else you can think of to collect data on node performance.

The stress test is expected to be pretty big. The expected transaction throughput rate on this one is something like 250 tx/sec, which is likely to saturate ABC's net_processing code. It will be informative if we can collect some data on where exactly in the code the bottlenecks are. If you know how to compile from source, it would be great to compile bitcoind with profile symbols enabled (export CXXFLAGS="-pg -O 2", I think, followed by "./bitcoind -daemon=0" -- profiling data won't be collected in daemon mode). Also, information on whether the UTXO cache and disk activity is the bottleneck will be helpful. Does dbcache=8192 help? If you have a ton of RAM, does cat ~/.bitcoin/chainstate/* >/dev/null help? (That would cache the DB at the OS level. Still uses leveldb, but no disk.) Do you see high disk tps with iostat? High iowait %?

Unfortunately, I'm extremely busy right now and won't have the time I wish I had to devote to this project, so if anybody else who has time who can make specific suggestions on how to implement the things above, that would be appreciated.

The thread for config options on the first stress test is here. Also, there's my writeup of the Sep 1st stress test results.

If any of you are running BSV nodes, please set those up for data logging too.

submitted by /u/jtoomim
[link] [comments]

source https://www.reddit.com/r/btc/comments/9xshox/please_set_up_your_nodes_to_collect_data_for_the/

Always remember: Why is BCH being attacked but none of the other cryptocurrencies? Because BCH is the only one that has a shot at being a global currency.

Think about it. If we weren’t on the right path with BCH, there wouldn’t be a need to attack us. We are the only ones being attacked, because we are the only ones with a coin of actual long-term usability & value.

submitted by /u/scotty321
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source https://www.reddit.com/r/btc/comments/9xr4yd/always_remember_why_is_bch_being_attacked_but/

"I just want to be left alone"... so your plan this whole time was to cause so much drama and bring so much attention to yourself as a way to teach the world to leave you alone? 🤔

submitted by /u/maff1989 [link] [comments]

source https://www.reddit.com/r/btc/comments/9xr2w5/i_just_want_to_be_left_alone_so_your_plan_this/

Bitcoin ABC 55.7% ahead in proof of work!

submitted by /u/Egon_1 [link] [comments]

source https://www.reddit.com/r/btc/comments/9xrtgh/bitcoin_abc_557_ahead_in_proof_of_work/

Some misconceptions I have seen during this "Hash War"

"Chain Y is 30 blocks ahead of chain Z, therefore chain Y wins"

This is irrelevant as the chains have split and are mining on different rules/difficulty. "block ahead" only matters for miners who are on the same chain.

 

"It does not matter if chain Z has more hash rate than chain Y, they have forked and are not compatible"

It is true that no amount of hashrate of chain Z can make a difference for chain Y, they are mining on different chains with different rules. But it does matter if chain Z moves some of their hashrate to chain Y to disrupt it (empty blocks and reverting transactions)

 

"A checkpoint will save us from a 51% attack"

Checkpoints only prevent disruption of the past, it doesn't do anything to prevent disruption after the checkpoint.

 

"Hash rate decides who wins"

It may look like this is true now, because BCH(ABC) has more hash rate and is winning, but imagine if SV had more hashrate, would the entire BCH community just rollover and admit defeat? No, hash rate only helps to prevent disruption. The people behind BCH(ABC) don't just go away because someone has more money to throw away on mining.

submitted by /u/bitcoiner_since_2013
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source https://www.reddit.com/r/btc/comments/9xqvlp/some_misconceptions_i_have_seen_during_this_hash/

The "Hash War" idea was insane in more ways than one. Thank god its over.

Reason #1: Different incompatible rules result in a chain split. Period! Even if you mine empty blocks, the coinbase rewards will diverge the UTXO.

Reason #2: There's been a bizarre misinterpretation of "Nakamoto Consensus" which clearly can only apply to differing chains on the same rules. The only possible way to have a "hash war" on differently ruled chains is for one chain to attack the other, which the whitepaper says is "dishonest mining" and by common sense is disrupting people who want to run a network in peace.

Reason #3: A chain that is fractured, at war with itself, would be doing tremendous damage to its own brand the longer it goes on. We're already seeing the damage just having exchanges be down for 2 days. Imagine that went on for weeks and months like Coingeek and nChain wanted? My god. There will be nothing left to fight over.

Thankfully we're spltting off. The hash war is over. BSV can continue to show off its hash rate in hopes of influencing some exchange (good luck)...They can even try to 51% attack. (I doubt they will succeed). But regardless of what they do, they will never be Bitcoin... for Bitcoin is permissionless p2p cash, and for that idea to happen, it requires a community that is dedicated to the ideals aligned with that vision.

submitted by /u/jonald_fyookball
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source https://www.reddit.com/r/btc/comments/9xqi9u/the_hash_war_idea_was_insane_in_more_ways_than/