Bitcoin in Brief Tuesday: New Patents, Research Centers and a $300M Fund

While brief time period buyers and speculators may not be in the perfect of form proper now, the long run growth of the ecosystem remains to be advancing on tempo. Companies and establishments are persevering with to speculate time and cash for furthering cryptocurrency analysis as could be seen by the tales featured in at present’s version of Bitcoin in Brief.

Also Read: Alleged Fraudster Arrested in China Over $15M Mining Hardware Con

Preventing the Next Mt. Gox

Bitcoin in Brief Tuesday: New Patents, Research Centers and a $300M FundNchain, the BCH-focused R&D agency, has introduced the issuance of its second patent by the European Patent Office, entitled “Determining a common secret for the secure exchange of information and hierarchical deterministic cryptographic keys.” This Deterministic Key Generation method is claimed to offer for improved safe communication between a pair of nodes, whereas having the ability to preserve their personal keys secret. The firm explains that it has already been utilizing the method as a part of its work with SBI BITS in Japan, the subsidiary of SBI Holdings, and that its publicly accessible SDK affords the patented method for any builders that want it.

Nchain CEO, Jimmy Nguyen, acknowledged: “The Deterministic Key Generation technique will help prevent Mt. Gox-type hacks of cryptocurrency exchanges and wallets. But its potential use cases are far greater as the digital world grows with increased digitisation of assets, cloud storage of data, newer methods of digital communication, and the anticipated explosion of Internet of Things devices. The invention can provide significant security benefits for any situation in which sensitive data, assets, communications or controlled resources need to be secured.”

Stanford Research Center

Bitcoin in Brief Tuesday: New Patents, Research Centers and a $300M FundA brand new Center for Blockchain Research has been based by main laptop scientists at Stanford University. The heart will likely be headed by professors Dan Boneh and David Mazières, and school will also embrace Alex Aiken, David Dill, John Mitchell, Tim Roughgarden and Joe Grundfest. It is supposed to assist scientists develop greatest practices for the sector in addition to create programs to assist future college students.

Prof. Boneh commented: “Blockchains will become increasingly critical to doing business globally. Stanford should be at the forefront of efforts to improve, apply and understand the many ripple effects of this technology.” Prof Mazières added: “Blockchain massively lowers the barriers to creating tradeable, digital assets. It allows individuals who don’t know each other, or even trust one another, to make irreversible transactions in a whole variety of fields in a safe and secure way.”

New $300 Million Crypto Fund

Bitcoin in Brief Tuesday: New Patents, Research Centers and a $300M FundAndreessen Horowitz, the Menlo Park headquartered enterprise capital agency, has introduced the launch of a16z crypto, a new $300 million enterprise fund that may make investments in crypto firms and protocols. The fund will likely be led by Katie Haun, a former US DoJ federal prosecutor who labored on the Silk Road case which seats on the board of administrators at Coinbase in addition to taught cybercrime and cryptocurrency at Stanford Law School.

Chris Dixon, basic associate at Andreessen Horowitz, acknowledged: “We are long-term, patient investors. We’ve been investing in crypto assets for 5+ years. We’ve never sold any of those investments, and don’t plan to any time soon. We structured the a16z crypto fund to be able to hold investments for 10+ years. We have an ‘all weather’ fund. We plan to invest consistently over time, regardless of market conditions. If there is another ‘crypto winter,’ we’ll keep investing aggressively.” Regarding doable funding targets he added: “We are focused on non-speculative use case. We want services powered by crypto protocols to be used by hundreds of millions and eventually billions of people. Crypto tokens are the native asset class of digital networks, but their value is driven by the underlying, practical uses cases.”

What do you consider at present’s information tidbits? Share your ideas in the comments part below. 

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