Isonode

🚀Did you guys see our story with the bitcoin fork map today?

It relates to the most recent news in the industry: Bitcoin SV, one of the most prominent forks of the bitcoin blockchain, has suffered from an immense 51% attack. This attack is where hackers gain control of more than 51% of the network by competing with massive amounts of computational power. It is currently unclear who is behind the attack, but blocks are being reorganised and 3 versions of the chain were reported at once by other miners in the network.

A blockchain forks when miners fail to reach consensus over the next block. This has typically aligned with major upgrades to the network, and disputes regarding changes to the protocol.
As you can see from todays story, Bitcoin has been forked many times in the past. However the main chain of bitcoin is still by far the strongest blockchain network. The bitcoin forks, like BSV, do not benefit from the same network strength the original bitcoin network possesses, and each fork must build their own community to maintain the network.

The future of Bitcoin SV is unclear at the point in time. Personally, I wouldn’t touch any fork of bitcoin, besides the original chain.

🚀What on earth is an NFT anyway?

🪙NFTs have made huge waves this year as being a new way for artists to engage and sell their work directly to fans.

📑NFT isn’t a new concept; they have existed since 2014. A non-fungible-token is simply a digital token which represents a unique asset in a digital form, identifiable by a unique code. By holding the NFT you hold ownership of the digital representation of that asset.

🎨NFTs could be used for all kinds of cool stuff, but primarily they have been popularised by art.

👎NFTs haven’t always been created successfully, many have written bad smart contracts, unbeknownst investors have ended up buying what they thought was a piece of art, but ended up simply buying a URL link, controlled by the artist.

🚀We’ve taken our time, watched people make mistakes, and defined a proper strategy, empowering the artist (or NFT creator) and the Buyer.
—Our first tester NFT will go live in the coming week.

👩‍🎨Artists in Cornwall, if you are interested in digitising the rights to your artwork, or utilising a channel in which you can sell your art directly to buyers without the need of an intermediary, or Shutterstock taking most of your profits, then get in touch. As always we’re happy to help!

🚀24th June News Roundup

It’s been a crazy week in the industry, and the volatile markets show for it. Here’s what’s happened:

👎Two South African brothers heavily involved with Africrypt have vanished, and so has $3.6 billion worth of bitcoin. This could be the biggest exit scam the industry has seen so far!

🇵🇾Paraguay are set to follow in El Salvador’s footsteps, and release their bitcoin legislation next month.

📲In El Salvador, cell phone providers will be forced by law to provide access to a national bitcoin wallet without an internet plan, extremely inclusive for those in impoverished communities .

🐼China have further tightened restrictions on crypto currency trading, exiling the bitcoin mining community, encouraging the adoption of the digital yuan.

🍁The Canadian Men’s Basketball league will begin offering players a portion of their salary in cryptocurrency’s, through a partnership with Canadian crypto exchange bitbuy.

In 20 years time, the Bank of England and the Government of England will be no more significant than the Red telephone boxes, in our daily lives. Just as the internet displaced our sole means of long distance communication; Blockchain technology will replace the way we transact and govern.