The crypto exchange Gemini that was founded by the Winklevoss brothers, who are one of the wealthiest crypto investors out there, has recently won a patent for cold storage involving air-gapped computers, geographically remote vaults, plastic cards as well as papyrus.
The patent was originally filed under the brothers’ firm Winklevoss IP, LLC, in a document that was published on Tuesday by the US Patent and Trademark Office (USPTO). As such, it outlines a plan to develop a network of computers that are capable of generating accounts for storing cryptocurrencies or exchange-traded products (ETPs).
Isolated except when necessary to transfer assets, the computers in this plan would act as cold storage devices. As such, they would generate the keys for new accounts, which would then be segmented into different parts and written onto an external memory device such as a CD, DVD or flash drive.
The patent also outlined different ways of manufacturing cards, stating that “for example, two sets may be stored on paper, and a third set is stored on papyrus,” but also noting that at least one set of keys must be stored on an electronic memory device.
Linked to an access portal, the computers will be connected to the blockchain network in order to process transactions, as the document explains. Aside from this, the patent also notes that digital asset ledgers are used to facilitate financial transactions – which is why securing them enables consensus protocols to operate properly and prevent attacks from happening.
Where Does Bitcoin Cash (BCH) Stand The Day After The Fork?
“Even if the SV mining collation do catch up with ABC or if they manage to do hostile chain re-orgs, its highly unlikely BCash ABC users & investors will ever switch to follow SV. ABC users just need to be patient & wait it out. @CalvinAyre & the SV miners will eventually give up,” BitMEX wrote on Twitter, doubling down on Jonathan Bier’s pre-fork prediction that miners would ultimately abandon the BSV fork.Currently, people are wondering how does the BCH hard fork affect other projects such as Bitcoin. The good news here is that the fork has no effect on BTC other than making it even less likely that Bitcoin Cash (BCH) will overtake Bitcoin (BTC) and claim its mantle.
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‘Time May Be Right’ For Home Crypto Mining: Coinbase CTO
“The big difference with decentralized mining in 2018 is that there are now so many different coins and tokens out there that it’s almost certainly possible to make a profit – or at least mine a decent amount of some crypto – via a decentralized home mining device like Coinmine.”This is a notable perspective mostly because Srinivasan previously founded 21.co which was a startup that emerged from stealth in 2015 and had an ambitious plan to embed Bitcoin miners in everyday devices- which was then backed by Coinbase Ventures. Following the Coinmine announcement, Srinivasan wrote:
“The big difference with decentralized mining in 2018 is that there are now so many different coins and tokens out there that it’s almost certainly possible to make a profit – or at least mine a decent amount of some crypto – via a decentralized home mining device like Coinmine."As we can see from the above stated, the CTO of Coinbase seems optimistic about Coinmine's ability to add even more coins later, foreseeing a future where the company could play a key role in the launch of new tokens.
“I believe that decentralized mining is an important idea and worth trying again. It’s mining as Satoshi intended: many devices around the world with no single point of failure." Srinivasan concluded.
Crypto Exchange OKCoin Expands To Latin America, Launching A Fiat Market
"We’re aiming to grow throughout the region by bringing institutional and retail traders there an array of trusted trading options so they can buy and sell with confidence,” Buyn said following the official announcement.He also pointed that the Latin American market is extremely important for the exchange as it is for many crypto and blockchain industries.
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