Cryptobuyer, a crypto services startup for Latin America, together with the analysis company Blockstream and Bitcoin advisor Anibal Garrido, reported that they successfully installed the first Bitcoin node connected to a satellite network in Venezuelan territory.

The connection of this node to the Blockstream satellite network offers Venezuelans the possibility of accessing the Bitcoin network without having internet. The satellite node was deployed by Anibal Garrido, a provider of cryptocurrency training courses, with the assistance of Álvaro Pérez, a Venezuelan programmer, while financial and logistical support goes by CryptoBuyer.

“We downloaded the entire Bitcoin Blockchain and successfully carried out the first transaction through a Bitcoin satellite node in our country on September 23, from the city of Valencia,” said Álvaro Pérez. “We receive Bitcoin through the satellite connection without any internet connection. It was a great achievement”.

Jorge Farías, CEO of CryptoBuyer, commented that “this project arose from our company’s vision of offering real and tangible products that solve real-world problems.”For example, we already deployed Bitcoin ATMs and Bitcoin POS terminals throughout the region, and we also launched a crypto-to-fiat exchange platform. Now with the Bitcoin satellite node, we address local internet connectivity issues in Venezuela. Users cannot afford to get hacked from the Bitcoin network”.

However, this would not be the first or the only one. The Medium publication notes that the installation of additional nodes will continue in Caracas (the capital) and in Bolívar state (in the south), to offer coverage throughout the country.

CryptoBuyer indicates that users who are in the vicinity of the satellite nodes will connect through local mesh networks that are in the testing phase at this time. The possibility of accessing the Bitcoin network represents a real relief for Venezuelans who have one of the worst internet connections in the world. The constant power outages and failures in the few Internet providers make connectivity in Venezuela inconvenient on a day-to-day basis.

Only this week electrical failures were registered in at least 14 states of the country, including Caracas. And according to official figures, only 44% of Venezuelans have an internet connection, 10% less than the average for the region according to the Internet Work Stats study.

In addition to instability, Venezuelans must also struggle with the slowness of the connection. While the average speed in the region is 5mbps, that of Venezuela is just 1.7 Mbps. The Ookla company ranks the Caribbean country as the slowest connection, and another study by the Economic Commission for Latin America and the Caribbean (Cepal) describes it as the worst connection in Latin America.

By: Jenson Nuñez.

Optimism, a developer of solutions for Ethereum, is currently working on a second layer solution to address the congestion and scalability problems present in the smart contract network, which is already available in the testing phase for a few members.

The Optimism team reported this event through its official blog on Medium. The team also indicated that this first phase of testing will be available for a few decentralized applications (dApps), focusing the analysis on each case at the same time, to address detail the errors that occur and adjust the solution for its next phases.

But the most remarkable thing is that within this first group of dApps is the decentralized exchange (DEX) Synthetix, which will distribute a total of 200,000 SNX tokens (estimated at $930,000) among users who are encouraged to try the new Optimism network. Using Optimistic Rollup Unlike other solutions to address Ethereum scalability issues, Optimistic Rollup is a type of second layer build for this network in which smart contracts are run at scale while still being supported by the main network.

These types of solutions are similar to those of the Plasma proposal, but they make use of a virtual machine called OVM (Optimistiv Virtual Machine), which provides this alternate network with all the functionality offered by the Ethereum Blockchain. Here the minimum necessary information is used, requesting more in case you suspect some kind of malicious action by users, and the transactions are sent to the main network in data packets, so they are not executed one by one.

According to information published by EthHub.io, the Optimistic Rollup operating process can be described as follows:

A user submits a transaction to a smart contract outside the network to an aggregator (external block producer). That aggregator calculates the root of the new state (also known as the Merkle root). That aggregator creates an Ethereum transaction that contains that state root calculated in the previous step.

Any user who sees an aggregator implementing an invalid state root (a state root created by including invalid transactions) can override that aggregator by publishing the valid state root along with the necessary Merkle tests to prove it.

The operator who committed such fraud and anyone who built blocks on it lose their funds and become the property of the complainant. Once an invalid block gets reported and a fraud test is completed, the operation on the second layer can suffer a reversion and a resume from the previous non-fraudulent block.

Testing phase for the Optimistic network

Regarding the launch of the testnet, the Optimism team indicated that it includes a total of four phases, which are adjusted for Synthetix as follows:

 Phase A: It does not enable deposits or withdrawals. It will only allow airdrops and the burning of tokens. Participants will receive and be able to destroy sUSD (Synthetix Stablecoin) tokens, as well as claim the rewards for the guarantee funds.

 Phase B: Will allow SNX deposits. Users will be able to increase their earnings by having more funds as collateral.

 Security drill: Contracts will be updated to add verification systems. Malicious information will be produced for users to detect and report malpractices, thereby deriving rewards by helping the network.

 Phase C: The network will enable withdrawals, and once these are successful, the rewards from the testing phase will be available on the main network.

At the moment, there are no specific deadlines or dates for the execution of the above phases, but the team indicated that the reports of the results will see the light of day.

By: Jenson Nuñez.

The sale of the work in the series Portraits of a Mind, called Block 21, is scheduled for October 7.

It is super interesting how art surprisingly gains more terrain in the crypto ecosystem. Blockchain technology becomes an inspiration for many artists. Also, this crypto-art begins to be sold in the most important galleries and auction houses in the world. Several media reported how a work that is part of a project of 40 pieces that carry a transcript of the Bitcoin Blockchain code is ready to be auctioned at nothing more and nothing less than in the important auction house Christie’s in New York.

It is part of the Robert Alice Project, started by London artist Benjamin Gentilli to promote Blockchain culture in the visual arts. Already the first blocks (0 to 20) of this work were offered privately to collectors and are currently in the hands of some well-known names in the crypto world, including Binance CEO Changpeng Zhao, Bloq chairman Matthew Roszak, Coinscrum founder Paul Gordon, among others.

The artwork to be auctioned at Christie’s on October 7 will also appear in the galleries of the auction house in New York between October 1 and 7. “Block 21” will set up for sale at an estimated price ranging between $12,000 and $ 18,000.

Another detail to explain is that the auctioned artwork is also related to a non-fungible token (NFT) based on Ethereum, which will serve as a way to demonstrate authenticity and will be a digital representation of the physical painting. “The NFT will be hosted on Ethereum, which will establish links between the Bitcoin codebase as the originator and ground zero for the rest of the ecosystem,” Gentilli said in an email.

Vivian Brodie, a contemporary art specialist at the auction house, said: “This is the first time that Christie has presented a work that explores crypto culture at auction and, as always, we are very excited to welcome new audiences and collector communities from around the world to Christie’s”.

The Decrypt medium explains that the work is a kind of wheel or circle whose surface is inscribed with 322,048 digits of hexadecimal code, some of which are highlighted in gold, radiating outward from a central void. Its secrets are not immediately noticeable. If the viewer takes a closer look they will read “Block 21” on the inside edge. He says that this circle to be sold is linked to 39 others around the world, a collection that spans more than 50 meters long. The hidden meaning behind the 12.3 million digits etched on their surfaces? is that they are an accurate and handmade transcription of the original digits of the historical code v0.1.0 that launched Bitcoin

The works themselves are canvas discs, 50.59 inches in diameter (1.28 meters), with layers of suspended pigment and graphite and aluminum paint, with each digit individually engraved. As we said, dotted here and there are gold digits, a metaphor for mining, arranged in a constellation-like pattern of decentralization.

As Decrypt explains, they are circles because they go back to symbolic circular figures: from coins to rai stones, cipher wheels, and astronomical charts. Even with a specialized machine, it took Gentilli three years of dedication and patience to complete the job, forcing him to quit his previous job and move to an abandoned police station to get his work done, Decrypt says.

Analysis of the work

On the artist’s website, he reveals that “Portraits of a Mind is an artist’s response to the inevitability of digital degradation, to the idea of ​​this founding code as a now-historical text, and the history of Bitcoin. Portraits of a Mind, a fingerprint carved in paint, is a reflection of the nature of identity in our newly decentralized age. There is also a portrait of Satoshi Nakamoto, the work explores the politics and aesthetics of open source code and its relationship to identity and truth ”.

By: Jenson Nuñez.

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According to the provisions established in the draft General Telecommunications Law of Spain, the government would have the power to intervene and control WhatsApp, Telegram, Messenger, or any other instant messaging application for smartphones. According to the government, they will apply this measure in case of serious risks or problems of public or national security.

In consequence, the State must assume direct management or intervention of electronic communications networks and services, on an exceptional and temporary basis in times of great emergency. The idea is for the government to manage these infrastructures to “preserve or restore public order”, when necessary and in specific situations.

These and other developments regarding the management of these messaging applications by the State are included in the aforementioned draft law. They are part of the provisions to regulate, for the first time in Spain; communication services based on instant messaging that do not depend on a conventional telephone line.

According to the preliminary draft, the decisions to manage these messaging networks in emergency cases may be made by the government on, own initiative or at the request of a competent public administration. In the latter case, it will be necessary for the public administration to have competences in matters of security or for the provision of public services. The decision is about to derive from a mandatory report from the National Markets and Competition Commission (CNMC).

Regarding the details of the bill, currently in a public consultation period, the Secretary of State for Telecommunications Digital Infrastructures, Roberto Sánchez, offered statements to the media.

Sánchez highlighted that, based on a broader interpretation of the definition of the term, operators of these messaging services now fit into the concept of providers. Under this concept, services such as WhatsApp, Telegram, Signal, Facebook Messenger, Google Hangouts, etc., will be regulated.  Also, video calling services such as Skype, Google Duo, and Zoom would be included.

The new regulations will also create a balance between the emergency communications service on which the number 112 relies. It contemplates the possibility of using the location data of the caller, as well as the chance to implement a public alert system. The spreading of information links to the possibility of intervention by instant messaging networks that this event generated a huge controversy on social networks in Spain.

Courier services must pay an annual fee

As reported in a press release from the Ministry of Economic Affairs and Digital Transformation of Spain, the draft provides for these instant messaging service providers to be registered in the Registry of Operators. They must also comply with the obligation to apply security measures, “following the risks of their differentiated nature concerning traditional services.”

All “new operators” will need to pay an annual fee if their billing exceeds a minimum threshold. This tax, already included in the current Telecommunications Law of 2014, was only available and active on telephone operators, such as Vodafone, Telefónica, or others.

The draft bill is available for review on the Ministry’s website. Until next October 13, contributions and comments may be made on its content. Its final approval is estimated for mid-2021 or the third quarter of that year.

By: Jenson Nuñez.

The social networking service could adopt a system similar to that of the cryptocurrency in the future. According to the executive, users are assuming a new role in the digital field.

For years, Twitter CEO Jack Dorsey has praised Bitcoin technology and everything behind it. In recent days, the executive highlighted that the decentralized system of the first cryptocurrency could provide security to the social networking service.

Among the programmer’s projects is the construction of a new decentralized protocol. The idea is that Twitter runs it as a client so that users “have a larger conversation, anyone has access and anyone can contribute.”

The entrepreneur considers that Twitter is no longer in the business of hosting content (tweets) or images. Dorsey is seeking a new way to share information through blockchains on which the content “exists forever” in each node connected to the network.

“Bitcoin aims at a world where content will be permanent (…) Right now, we are not in that situation, but we are working to achieve it. You can see that in the work of Bitcoin and blockchains, which gives me a lot of hope and a lot of peace of mind,” said the CEO of Square.

Twitter would improve in various aspects, including security, if it operated under a decentralized protocol, said the developer. Dorsey believes that these types of distributed systems can be useful when fighting threats on the platform. Likewise, he believes that they will help improve user identification and make it easier for participants to contribute to a public blockchain.

Dorsey said that many new technologies already offer those advantages, and made special reference to the spirit of Bitcoin. He added that those technologies will provide new capabilities to provide more peace of mind to the company, as well as to the people who use that service.

Blockchains, Twitter, and Bitcoin

Last December, Dorsey announced that Twitter would fund a task force to develop a new decentralized standard. With this, they aim at the creation of a shared protocol so that the social network works on it and not in a centralized way.

The programmer noted that they are still seeking a leader for the project and five engineers, among others, to “start building Twitter as a protocol.” He said that, at the moment, it does not seem to be a company but rather a movement. In other words, he feels as though it is a kind of technology with which it is possible to build anything.

According to Dorsey, Twitter could generate “healthier” public conversations and help people understand what is happening in the world. For all this process to take place, it would resort to the use of a public blockchain.

He said that there would be something really powerful about being able to do that. He considers that this would respond to the power and original intention of the Internet.

Dorsey has previously spoken about the strengths of blockchain technology and everything that relates to Bitcoin as a digital system. In August 2017, the executive considered distributed ledger networks to be “the next big innovation” in technology.

A year later, Dorsey assured the US Congress that he considered using blockchains as a solution to fraudulent practices on his network. With this, it is possible to see that Bitcoin and blockchain technology is very useful in the development of tools that help guarantee the safety of users.

By Alexander Salazar

The idea is to attack the weak points of the mining industry with data and information. Miners can check whether they receive a fair payment through a new index.

Currently, Luxor Mining, a company in charge of creating solutions and optimizing Bitcoin and Altcoin mining pools, is creating new tools to add transparency to the industry. Guzmán Pintos, head of growth for the company that launched the Hashrate Index website, stated this.

According to Pintos, Bitcoin mining is an elegant way to convert excess energy into digital assets. He highlighted the popularity of mining pools that play a relevant role in maintaining the network. However, he also delved into how centralization, conflict of interests, and lack of transparent data are affecting its development, especially in Latin America.

A large part of the industry currently revolves around mining pools, which coordinate the hash power of miners worldwide and share the resulting bitcoins among taxpayers. Despite the growing popularity of these pools, the hashrate is not fully distributed among pools of different origins, but Chinese pools hold more than 90% of the global hashrate.

Bitcoin Mining Health Stays Transparent

Unprofessional practices that take transparency away from the mining industry stem from centralization. The computational power of mining equipment relates to the payment that miners must aim for, both for block reward and transaction fees.

There is also a practice related to the cost of ASICs that prevents the proper development of the mining industry. This is because manufacturers barely publish data in an industry that a few institutional players dominate.

Pintos noted that the Luxor team is requesting suggestions from the community for additional features on their website, which are free tools available to all miners. He adds that “those who concentrate the highest percentage of hashrate have no incentive to change that.” For that reason, he says that it is necessary to work on greater transparency along with the mining community.

Luxor’s Profit Switching Mining

Pintos also spoke about “profit switching” mining, another of Luxor’s new projects. It consists of observing an algorithm and choosing which currency is the most profitable to mine. They would implement the task in a specific pool, assigning the mission to a specific miner.

For people who are new to cryptocurrency mining, Pintos gave some advice. In that sense, he said that the first thing to do is read and seek information on the subject. He thinks that novices must educate themselves and know the industry before investing. Besides, he recommends operating an economy of scale to reduce costs, based on expansion. He also considers that being able to guarantee access to cheap energy is another important element.

Many people in Paraguay are betting on transparency in the Bitcoin mining business. One of the largest hydroelectric plants in the world is precisely in the country, which allows them to offer miners competitive rates.

By Alexander Salazar