Blockchain News
New Cisco Patent Promises Ultra Fast 5G Network With Blockchain

Cisco is a telecommunications giant which is featured in the latest blockchain news this week. As it stands, the telecom company has developed a new Cisco patent describing a system that could be used by 5G networks to authenticate users and enable them to pay for network services.
The patent has been awarded last Tuesday, November 26, and details how mobile phones could include blockchain authentication data that would allow them continuous access to networks. This could be used for telecommunications networks including new 5G networks, promising ultra-fast data speeds.
The patent also describes a “native blockchain platform” which employs operations that can serve as additional, alternative or supplemental registration processes and/or session management processes within a mobile network.”
“This service-oriented architecture supports network slices, which employ an isolated set of programmable resources that can implement individual network functions and/or application services through software programs within a respective network slice, without interfering with other functions and services on coexisting network slices,” the official filing said.
In fact, the new Cisco patent was described as one where users submit payment credits to the blockchain network “in exchange for network services.” As such, it will also interconnect service providers who use it – they will exchange messages such as policy requests, network usage and “lawful intercepts.”
In the cryptonews, the new Cisco patent was also featured for its advantages and how it brings blockchain technology to facilitate transparent, verifiable, and secure digital asset transactions with proof of rights and ownership.
Meanwhile, 5G is gradually rolled out this year by a lot of carriers in what is seen as the next level of mobile networks. In the United States, these include the telecommunications provider Sprint which pushed 5G technology to even nine cities, with the most developments made in New York, Chicago and Los Angeles.
As shared on the blockchain page on their website, Cisco describes the technology as an “emerging one” which has “ever-growing potential across a wide range of industries that Cisco serves around the globe.” They also refer to the fact that Cisco has invested a lot in “researching and developing an Enterprise Blockchain technology, which culminated in a successful demonstration at Cisco Live, San Diego, in June 2019.”
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Blockchain News
Bitmain Announces Expansion In South America: Report

‘’South America continues to be an important region for the cryptocurrency mining sector. Our collaboration with Fastblock and Bit5ive will help us to build on the relationships we have with the mining community on-the-ground and instill trust in the sales process of Antminers.’’Jihan Wu announced back in November, the new addition to the Antminer 17 series and during the announcement the Bitmain co-founder said that the new miners included a hash rate and power efficiency-enhancing features. In the meantime, Wu continued to solidify the control over the company with the co-founder reportedly holding a meeting with a few Bitmain executives. At the meeting, Wu outlined the most important objectives of the company and the current projects that are under development in the company.This move is a part of the fights with Wu and the fellow co-founder Micree Zhan. Zhan is now aiming to take legal action against Wu accusing other officials at the company of betrayal. After a difficult 2018 and a bad start of 2019, Bitmain lost most of the mining dominance on the market. The company, however, will file an IPO in the US with its fellow competitor Canaan already completing a similar public sale. After the departure from the operational downsizing in 2018, Bitmain began developing expansion plans with the new 33,000-acre bitcoin mining facility in Texas. The company also aims to increase the hash rate capabilities by about 50 percent.
Blockchain News
Big South Korean Exchange Faces Hundreds Of Accusations

Blockchain News
Cryptopia Liquidators Recover $11 Million But The Process Is Still Difficult

“We continue to investigate the affairs of the Company and its directors in the period prior to our appointment to determine if there are any further avenues of recovery available to the Company.’’Grant Thornton didn’t comment further on how much longer will the creditors need to wait for reimbursement saying that ‘’at this stage it is not practicable to estimate the completion date for the Liquidation.’’ Cryptopia shut down in January 2019 years after the hackers stole funds worth about $16 million. The prolonged process has seen the liquidators tease out the details of the user transactions with the reconciliation of funds ongoing. The report adds:
“No detailed reconciliation process between the customer databases and the crypto-assets held in the wallets has ever been completed.’’Grant Thornton is right now focusing on the accounts of more than 900,000 active users potentially involving more than 900 different cryptocurrencies. The reports show that the exchanges worldwide continue to battle hack attacks and they focus mostly on a much larger loss involving the ex-Canadian exchange QuadrigaCX. Earlier this month, a cryptocurrency worth $340,000 mysteriously left the books of the South Korean platform Upbit and some analysts claimed that it was an inside job. The users, however, will be compensated by the company’s funds.As per the previous reports, Cryptopia co-founder and ex-former developer VCDragon revealed evidence that shows that the exchange hack was an inside job with an intention to destroy the exchange. Also, according to the documents, the assigned liquidator Grant Thronton, released the estimation statement for the financial state of the hacked crypto exchange, stating that Cryptopia owes a total of $4.2 million to the creditors.
Blockchain News
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