Blockchain became a thing circa 2008, when the entity known as Satoshi Nakamoto unleashed the beast that we know as Bitcoin. Its underlying tech has since gone from strength to strength, and blockchain is gradually becoming a part of a variety of industries including filmmaking, supply chain management, gaming, and more.
Here are the three latest developments in blockchain tech that have occurred in the last week:
California-based media company Live Planet recently announced the launch of a new blockchain-powered VR network that will host crypto and blockchain-related content.
According to a recent press release, the Blockchain Virtual Reality Network (BVRN) is a pioneering product that combines state-of-the-art blockchain and VR tech. It’s the first of its kind, according to the creators, and has been designed from the ground up to serve the blockchain industry specifically.
Clients will be able to use BVRN to stream podcasts, video podcasts, and other media through the Live Planet VR System.
The history of Bitcoin (BTC) has been dotted with several firsts. Now, BTC has crossed yet another milestone – the bitcoin network hash rate hit 80 quintillion hashes per second for the first time on 8th August.
Network security is a key factor for BTC, and other cryptocurrencies. The higher the hash rate, that much harder it is for bad actors to interfere with the network.
This means that BTC is poised and equipped for explosive growth now more than at any point in its history; it’s just a matter of waiting for it.
“Fake news” i.e. misinformation, and the influence it has in swaying the public’s perception on any given issue has been the subject of several recent debates and controversies.
Because of the prominence of this problem, the New York Times has launched The News Provenance Project, a blockchain-based initiative created to combat “fake news”.
The project, led by the popular newspaper’s R&D team, aims to create a system for storage and sharing of contextual metadata built on Hyperledger Fabric and IBM Garage.
A statement in the FAQ section of their website says, “blockchain offers mechanisms for sharing information between entities in ways we think are essential for establishing and maintaining the provenance of digital files.”
For the latest developments and updates in the crypto space, follow FreeBitco.in’s blog.