In a world where large transfers are associated with low fees, Binance decided to step a bit further and demonstrate both the power and irony of the blockchain. A transaction in the block 550211 was a transfer of just over $1 million which took $8 in fees. However, the amount of the fee is usually a matter of convenience as the transaction was not large and was only 1550 bytes.
The other transaction of $600 million was more special, being the largest unspent transaction output existing today and also illustrating the irony of Bitcoin transactions. First flagged by Antoine Le Calvez of CoinMetrics.io, this transaction was made in block 550155 several hours earlier, comprised 5981 bytes yet cost the exchange just over $7.
Binance just created the largest unspent transaction output existing today (but not all time) at 109k BTC (nearly $600M).https://t.co/Ot2ST37flU
— Antoine Le Calvez (@khannib) November 15, 2018
First of all, it is safe to say that there is no banking product with the same security as a cold storage wallet – one that is not connected to the blockchain via the Internet but prompts direct access with no middlemen.
So, there is no reason to compare the world of crypto with traditional transaction movements. For instance, a transaction like this sent via PayPal, according to one data agency, would come with a fee of $17,400,000.30 which is certainly a fortune.
What can be said is the fact that Binance is engaging in money transfers that wouldn’t be possible in a previous era – at a cost that would have been unimaginably low in any previous era.
Telecom Giant AT&T Interested In A Blockchain-Based Social Media ‘Mapping’ System
“The social media history map platforms described herein may take advantage of the immutable and permanent nature of blockchain records to store, and provide access to, data representing online transactions that occur on multiple social media applications.”According to the filing, content creators would keep the ownership of their data on the "mapping" platform:
“However, instead of passing ownership of blocks or data between users, a social media account owner maintains primary ownership of his or her online transaction data. What passes from the social media account owner to other users of the social media history map service, such as followers of the social media account owner, is a notion of elevated visibility rights.”This is just one more patent application in the series that were submitted by companies such as Xerox, American Express, IBM and others - and a new milestone for AT&T overlooking its expansion in the field of blockchain.
Binance Labs Introduces Us To The ‘First Batch’ Of (Final) Blockchain Projects
TRON’s DApp Usage Jumps 48% To +1 Million Transactions Last Week
“This week, the 24-hour transaction number for Dapps reached 1.04M, a 48% increase compared with last week; the 24-hour trading volume hit 640M TRX, an 151% increase compared with last week. We have seen significant increases in both indexes […]”One of the most interesting projects built on Tron is Seedit which is a decentralized platform that lets users contribute funds to the content creators that they most appreciate. Project Atlas is also a well-known project which incentivizes people to seed content on the BitTorrent protocol, which was acquired by Tron back in July this year.
LinkedIn’s Largest Growing Job Sector Is Blockchain Development
“It’s no surprise that we’re seeing an explosion of machine learning roles and continuing growth of data science roles. In fact, we started to see glimmers of this in last year’s report; however, both fields are starting to see more specialized roles emerge. It also may not shock you that Blockchain Developer is topping the list following this year’s surge in interest around blockchain and cryptocurrency.”The great news for all of the people interested in a career in this sector is that there are plenty of universities now that adopt blockchain-related courses which help to boost the blockchain expertise in the following years.
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