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Alert: Casperlabs building POS blockchain with Vlad Zamfir

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Casperlabs CBC provides an efficient way to increase the scalability of blockchain without serving as a limitation for decentralization.

An update in the crypto industry is from Casperlabs. This startup has been launched primarily focussing on constructing a new form of blockchain technology based on a version of recently suggested consensus protocol of Ethereum, Proof-of-stake(POS). We all are aware that POS is going to replace its counterpart very soon and has been appreciated by most of the related organization and traders.

The aim of this startup is to launch a scalable and fully centralized next generation blockchain technology. For this goal, the researcher of Ethereum Foundation, Vlad Zamfir has been appointed as the lead architect of this project. The company broadly focusses on POS. In a recent interview, Vlad stated that his main role in this project would be to assist the team to understand the created technology. He also stated that his role wouldn’t be dedicated to the coding part of the technology rather in the research part of the project.

POS i.e. proof-of-stake has been proving as a better and easy alternative for the consensus algorithm in blockchain technology as compared to its counterpart POW i.e. proof of work. However, the testing and use of POS at a significantly large scale are yet to be done. The main advantage of POS is that it allows different designs to be implemented within itself. In the mentioned startup, Casperlabs, it has been expected that the design would be mostly oriented to similar to the one designed by Vlad. This design is known as Casper Correct by Construction (CBC).

 

Casperlabs building POS Blockchain

There was a press release today regarding the same topic by Casperlabs. In this press release, it was stated that Casperlabs CBC provides an efficient way to increase the scalability of blockchain without serving as a limitation for decentralization. It was also mentioned that since it removes the complex mining which is essential in the usual POW consensus protocols, this idea of POS would more economical and secure.

It must be noted that the founder of Ethereum Vitalik Buterin and one of the researchers of the Ethereum Foundation, Virgil Griffith created two forms of the design of the Casper family. While one was called Casper CBC, the other one was called Casper the Friendly Finality Gadget (FFG). These two design of the proof of stake consensus algorithm are almost based on the same research. However, when compared to each other in 2017, CBC was declared as a less production-ready version and was put on hold until FFG was completely implemented as POS on Ethereum technology.

In today’s’ press conference, Zamfir seemed to be excited to be a part of this project. He added that it is good that the company has taken such a broad interest in Casper CBC. He stated that being a scalable and decentralized PoS Blockchain protocol, Casper CBC has some promising future and it is very good to see that people are taking interest in it. Further, Zamfir added that he hopes that the combined efforts would be successful for both the company as well as the Ethereum to accept the proposed technology.

Adaptive Holdings, whose CEO is Mrinal Manohal is the parent company of this startup and all the funds for Casperlabs comes from the mentioned company itself. There has been news that Casperlabs have already received funds from some big companies such as BlockTower, Galaxy etc and that too around $20 million, but no official statement has been made on this news on behalf of the company.

Let us hope that the company under the knowledge and guidance of Vlad could achieve the desired milestone. If it could, it would be like a catalyst for the Ethereum Blockchain as well as the crypto space.

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Forbes releases top 50 blockchain companies list

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Forbes has released top 50 blockchain companies using blockchain technology list and these are almost all household names of the world's largest companies.

Forbes has released a new top 50 blockchain companies using blockchain technology list and these are almost all household names of the world’s largest companies. In fact, they are all billion dollar plus companies such as Amazon, Citi Group, Foxconn, Comcast and a whole host of others and unsurprisingly the bulk majority of these companies are using Ethereum.

 

Although, outside of Ethereum which is, of course, the number 1 blockchain for these companies, we do see others like Hyperledger and Quorum for example, although much rarer on the list in terms of mentions are blockchains such as Stellar Lumens or Cardano. Blockchains such as TRON, EOS, NEM, and others are not mentioned in the list of top 50 companies.

 

Companies choosing Ethereum according to Forbes:

Big businesses really like what Ethereum is doing. Ethereum has also worked very hard to make these relationships happen over the last few years and those relationships are now paying dividends big time.

 

All the top 10 companies are located in China or the United States.

The Top 10 (Forbes List):

10. Ping An Insurance Company: China

9. Bank of China: China

8. Apple: United States

7. Wells Fargo & Company: United States

6. Bank of America: United States

5. Agricultural Bank of China: China

4. Berkshire Hathaway Inc: United States

3. JPMorgan Chase & Co: United States

2. China Construction Bank Corporation: China

1. Industrial and Commercial Bank of China: China

 

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JPMorgan expanding itself into the blockchain and crypto space

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JPMorgan Chase has been posting a lot of job opportunities in the blockchain and cryptocurrency industry on Indeed.com, the job listing portal.

JPMorgan Chase, the American multinational investment bank and financial services company has been posting a lot of job opportunities in the blockchain and cryptocurrency industry on Indeed.com, a job listing site. According to the data from Indeed.com, the overall job openings for the cryptocurrency industry also seems to be on a rise.

 

JPMorgan Entering the Cryptocurrency Space:

Though the CEO of JPMorgan, Jamie Dimon has always been a strong opponent of Bitcoin and other cryptocurrencies, his company has been interestingly expanding its operations in the field of blockchain and cryptocurrency.

 

Last month, JPMorgan launched its own cryptocurrency known as the JPM Coin, which will serve the bank’s precious customers in order to make transactions between them more swift and steady.

 

Back in 2018, JPMorgan had launched a blockchain powered platform known as Quorum which might be seen quite homogeneous to bitcoin and ethereum, however, it is almost fully centralized in nature.

 

Large companies entering the Blockchain Space:

In recent times, a lot of huge companies worldwide have been entering into the blockchain and cryptocurrency space. According to a recent publication by the Forbes, large organizations such as IBM, Deloitte, Cisco, Microsoft, Consensus, and others have been curiously hiring employees that are experts in the field of blockchain technology.

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Adoption: Courts in France adopt blockchain technology

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The NCC or National Council of Clerks of France have finally tested a blockchain technology-based solution for the courts of the country.

The NCC or National Council of Clerks of France recently made an announcement that they have finally tested a blockchain technology-based solution for the courts and are now prepared to launch it throughout France. The National Council of Clerks is a representation of the clerks of the corporate and commercial registry in around a hundred thirty-hour workplaces in France. The workplaces depend upon one another for sharing important data.

 

The goal of NCC France

The NCC is determined to streamline and position the latest information technology that capitulates something that is known as ‘the single version of the truth’. The data tracks an organization’s growth, dissolution, change of location etc. The sharing of data amongst each other was earlier a big challenge for the NCC.

 

The project based on blockchain technology had an aim of rapid cycle times and precision of information. In the pilot phase of the project, the National Council of Clerks in France was able to lessen the timing of registry operation involving a lot of days to just one day.

 

According to the president of France National Council of Clerks, Sophie Jonval, the project based on blockchain technology is an outcome of the partnership with IBM. IBM who is already an expert in blockchain technology and cryptography has been serving as a technological partner.

 

According to the NCC, the project shall be rolled out in the 1st half of 2019 and the project shall ensure a transparent and improved dynamics of the interactions between the clerks.

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