Latest news with #BitcoinCore
Yahoo
11-06-2025
- Business
- Yahoo
Fractal Bitcoin is creating a programmable layer secured by Bitcoin miners
Fractal Bitcoin is creating a programmable layer secured by Bitcoin miners originally appeared on TheStreet. In an interview with TheStreet Roundtable, Spencer Yang, co-founder of Fractal Bitcoin and managing partner of BlockSpaceForce, traced his journey from building CoinMarketCap and leading retail products at Coinbase to redefining Bitcoin's potential. After two and a half years ago, he saw a gap: while Bitcoin excels as a store of value, it can also power payments, applications and new protocols — if the right infrastructure is in place. At Bitcoin 2025, many scaling solutions vie for attention. Yang insists Fractal's edge lies in respecting Bitcoin's core. By merge-mining with major pools Fractal aligns miner incentives and reuses Bitcoin Core software. 'About 90% of Bitcoin hash rate from mining pools like Foundry, F2Pool, Antpool and ViaBTC are merge-mining Fractal and securing Fractal network on top of securing and receiving rewards for securing a Bitcoin network,' he said. Developers building on Fractal tap directly into Bitcoin's security — giving them a familiar, safe sandbox for innovation. Yang outlined three guiding principles behind Fractal's protocol design. First, miners securing Bitcoin today also receive Fractal block rewards, ensuring strong incentives. Second, Fractal uses Bitcoin Script so any developer building on Fractal also contributes to Bitcoin's security. Third, the network makes it seamless to move assets between Bitcoin and Fractal — opening paths for productive use rather than passive holding. When asked to explain Fractal's approach, Yang compared it to a skyscraper full of elevators. 'Bitcoin is the first level. But if users want to do something that is maybe a little bit faster, then you go to the second level, and then you go to the third level,' he said. 'What I am very optimistic about in the next five years is more innovations, not just in the on-chain parts of the space, which we are very, very strong in,' Yang said. He urged developers to explore on-chain markets and contribute to the next wave of Bitcoin-powered products. Fractal Bitcoin is creating a programmable layer secured by Bitcoin miners first appeared on TheStreet on Jun 11, 2025 This story was originally reported by TheStreet on Jun 11, 2025, where it first appeared.
Yahoo
10-06-2025
- Business
- Yahoo
Bitcoin Core 30 to Increase OP_RETURN Data Limit After Developer Debate Concludes
The developers of Bitcoin Core, the primary open-source software for connecting the blockchain behind the world's largest cryptocurrency, said October's version 30 release will increase the default limit for OP_RETURN data transactions from the current 80 bytes to nearly 4MB, a limit imposed by Bitcoin's block size. The proposal for the change, which was confirmed in an update on GitHub, had sparked debate within the Bitcoin community. Critics argued that removing the limit could encourage increased embedding of arbitrary data, potentially leading to network spam and a shift from bitcoin's BTC primary function as a financial tool. This decision to go ahead marks another significant moment in the community's debate about blockchain usage, highlighting persistent tensions between network efficiency, practical use cases and ideological principles. The OP_RETURN code allows Bitcoin users to include data in transactions. The functionality is conceptually similar to, though technically distinct from, the way Inscriptions embed images and text directly into the blockchain using Ordinals and witness data. Some argue that adding this transaction data is "arbitrary" and contradicts the original vision for the Bitcoin blockchain as proposed by Satoshi Nakamoto. The 80-byte limit on OP_RETURN encouraged alternative methods of data storage, some of which caused issues like bloating the unspent transaction output (UTXO) set. In a detailed GitHub summary and subsequent X post, Bitcoin Core developer Gloria Zhao outlined the reasoning behind the change. Zhao emphasized the intention to mitigate unintended consequences of the existing limit, noting, 'The primary motivation for this [change] is to correct a mismatch between the harmfulness and standardness of data storage techniques.' Developer Greg Sanders, who authored the merged pull request, said in GitHub discussions that the removal of the limit 'yields at least two tangible benefits: a cleaner UTXO set and more consistent default behavior.' Zhao also addressed broader governance issues on her X page, highlighting Bitcoin Core's commitment to transparency and meritocracy. She stressed the importance of the community's role in maintaining these principles, warning against the risks of social engineering or corporate pressure influencing the software developers' decision-making process. 'If Bitcoin Core's contributors ever abandon these values, e.g., to appease social media or corporate wishes, the community will switch to another node implementation that does it better,' Zhao wrote, urging users to remain vigilant and informed. Developer Luke Dashjr has consistently opposed easing the limits, labeling the move as potentially harmful. He encouraged users to avoid upgrading to the new version or to adopt alternative node implementations, such as Bitcoin Knots. The debate mirrors the controversies of 2023, notably around Ordinals and Inscriptions, when users embedded substantial non-financial data, such as images and text, into Bitcoin transactions, prompting similar concerns about blockchain misuse and network congestion. Despite these concerns, Zhao maintained that attempts to censor transaction types through relay policy are impractical and ineffective against strong economic incentives. Bitcoin Core's approach should remain neutral, reflecting the network's foundational principles of censorship resistance and decentralization, she said. The Core 30 release will retain manual control options, allowing users to enforce stricter limits through existing command-line parameters. However, these options are now marked as deprecated and will trigger warning messages, indicating potential removal in future updates without a set timeline.
Crypto Insight
08-06-2025
- Business
- Crypto Insight
Bitcoin core devs' joint statement sparks heated debate among Bitcoiners
A collective statement from 31 Bitcoin core developers has sparked a global debate among Bitcoiners after suggesting a hands-off approach to how the Bitcoin network is used, amid ongoing controversy over non-monetary use cases. 'This is not endorsing or condoning non-financial data usage, but accepting that as a censorship-resistant system, Bitcoin can and will be used for use cases not everyone agrees on,' the June 6 statement published on the Bitcoin Core website said. Bitcoiners are 'not in a position' to place mandates The letter argued that Bitcoin is a network 'defined by its users' and that its core contributors are 'not in a position' to mandate what software or policies they desire. It comes amid the ongoing debate over spam inscriptions on the Bitcoin network. 'Being free to run any software is the network's primary safeguard against coercion,' it added. While many Bitcoiners supported the update with an 'ACK' comment, others objected. JAN3 CEO Samson Mow criticized the tone of the letter on the same day. He said, 'It's disingenuous to just say 'it is what it is now, too bad.' 'Bitcoin Core devs have been changing the network gradually to enable spam and now seem focused on also removing barriers for spammers,' Mow said. 'This statement itself is also inappropriate,' he added. On May 8, Bitcoin Core developers decided to remove a long-standing limit on transaction data in a network upgrade to allow for larger data segments, which some Bitcoiners saw as opening the door to non-financial use cases. However, Casa founder Jameson Lopp defended the letter. Lopp said, 'Core Devs are a group saying we can't force anyone to run code they don't like; here is our thinking on relay policy and network health.' 'When there was no cohesive message, and it was just a bunch of independent developers making individual statements, Bitcoin Core was accused of having 'poor public relations,' Lopp said, adding: 'Now a joint statement is published, and people find reasons to cry about it.' The developers argued in the letter that it is better for the Bitcoin node software 'to aim to have a realistic idea of what will end up in the next block, rather than attempting to intervene between consenting transaction creators and miners to discourage activity that is largely harmless at a technical level.' It added: 'While we recognize that this view isn't held universally by all users and developers, it is our sincere belief that it is in the best interest of Bitcoin and its users, and we hope our users agree.' Bitcoiner Carl Horton said, 'It's Bit 'Coin' not Bit 'Bucket' or Bit 'Store' or whatever general purpose data store you have in mind. It's a 'peer to peer electronic cash system.' Meanwhile, Bitcoin core developer Luke Dashjr criticized the goals of the transaction relay policy outlined in the statement. 'The goals of transaction relay listed are basically all wrong,' Dashjr said. 'Predicting what will be mined is a centralizing goal. Expecting spam to be mined is defeatism. Helping spam propagate is harmful,' Dashjr said. The developers said the main goals of transaction relay are predicting what Bitcoin transactions will be mined, 'speeding up block propagation' for the transactions expected to be mined, and helping Bitcoin miners learn about fee-paying transactions. Source:
Yahoo
03-06-2025
- Business
- Yahoo
Bitcoiners roast Elon Musk's new ‘Bitcoin-style' XChat
Bitcoiners roast Elon Musk's new 'Bitcoin-style' XChat originally appeared on TheStreet. Elon Musk wants X to become the most secure communication platform on the planet. But his latest branding choice has left the crypto world confused, and a little amused. On June 1, Musk announced XChat, a new feature for X (formerly Twitter) that includes encrypted messaging, vanishing messages, file sharing, and audio/video calling — all without needing a phone number. The architecture is reportedly built on Rust, and as Musk described it, uses 'Bitcoin-style encryption.' That phrasing triggered an instant response from Bitcoin experts. 'Brother w*f is bitcoin style encryption, bitcoin literally doesn't have any encryption in it whatsoever,' wrote Taproot Wizards contributor Udi Wertheimer, whose tweet quickly racked up over half a million views. Short answer. Not in the way you think. Despite being one of the most secure financial systems ever created, Bitcoin does not use encryption to keep data private. Instead, it relies on cryptographic hashing and digital signatures, both critical tools in cryptography, but not encryption. Hashing (like SHA-256) is used to generate unique fingerprints of data, crucial for mining and verifying transactions. Digital signatures (using ECDSA or Schnorr) ensure that only someone with the correct private key can authorize a transaction. As Wertheimer explained, encryption is when you take a message and keep it secret from everyone but the intended recipient. Bitcoin doesn't hide anything. Every transaction is open, auditable, and publicly visible on the blockchain — that's part of its entire design. 'Seriously, what is Bitcoin-style encryption?' asked cryptographer and assistant professor Ian Miers. 'Bitcoin primarily uses signatures, not encryption. This is like saying, we decided to run our rocket on water, since NASA uses hydrogen and oxygen.' Some users pointed out that Bitcoin Core implemented BIP-324, a proposal to encrypt peer-to-peer (P2P) network messages, in 2023. That means nodes talking to each other on the Bitcoin network can now encrypt their communication — but this is not the same as encrypting transactions or wallets. So while there's some encryption involved at the networking layer, it's misleading to suggest that Bitcoin's core value proposition revolves around encryption. Even Wertheimer admitted he may have jumped the gun: 'I might have to stop tweeting about bitcoin forever… turns out they do have some encryption in Bitcoin Core for the P2P protocol since 2023. Elon knows more about Bitcoin than I do. It's over, bye.' Musk was probably referring to end-to-end encryption and threw in 'Bitcoin-style' as shorthand for peer-to-peer privacy and decentralization — even if the terminology isn't accurate. As crypto OG Wei Dai speculated: ''Bitcoin-style' ~= 'peer-to-peer' ~= 'end-to-end'... So 'Bitcoin style encryption' means 'end-to-end encryption'.' Musk's XChat may very well offer a solid privacy layer for communications. But if you're calling it "Bitcoin-style encryption," be ready for pushback — because in Bitcoin, transparency is the feature, not the bug. And if you're going to cite the world's most open protocol, maybe… read the whitepaper first. TheStreet Roundtable reached out to X for clarification on what Musk meant by 'Bitcoin-style encryption.' This story will be updated if and when the company responds. Bitcoiners roast Elon Musk's new 'Bitcoin-style' XChat first appeared on TheStreet on Jun 2, 2025 This story was originally reported by TheStreet on Jun 2, 2025, where it first appeared.
Business Wire
28-05-2025
- Business
- Business Wire
Blockstream Unveils 'Future of Finance Runs on Bitcoin' Vision at Bitcoin 2025
LAS VEGAS--(BUSINESS WIRE)--Blockstream, the global leader in Bitcoin-powered financial infrastructure, has today revealed its strategic vision to support Bitcoin's next pivotal phase of growth, building on over a decade of pioneering work at the forefront of Bitcoin innovation. Blockstream CEO Adam Back launches consumer app and showcases the firm's evolving enterprise platform at Bitcoin 2025, advancing its vision that The Future of Finance Runs on Bitcoin. Unveiled in a keynote by Blockstream Co-Founder and CEO Dr. Adam Back at Bitcoin 2025 in Las Vegas and anchored by a bold new tagline, The Future of Finance Runs on Bitcoin, the vision introduces a clear framework based on three core business units—Consumer, Enterprise and Blockstream Asset Management (BAM). This framework represents a unified approach to onboarding users across the rapidly growing Bitcoin economy, from individuals to institutions. 'The past year has shown clearly that Bitcoin no longer sits on the margins of the global financial system—it is rapidly becoming the foundation,' said Dr. Back. 'Our vision is simple: The Future of Finance Runs on Bitcoin. Guided by this idea, Blockstream is working hard to build the vertically integrated platform to support that transition, from individual self-custody to enterprise-scale asset issuance and regulated investment products.' A New Era for Bitcoin-Native Finance According to crypto ETF analytics platform SoSoValue, Bitcoin has attracted over $41 billion in net ETF inflows alone since the launch of U.S. spot ETFs in early 2024, led by major institutions such as BlackRock, Fidelity, and Franklin Templeton. At the same time, New Hampshire and Arizona have become the first U.S. states to pursue Strategic Bitcoin Reserves and the number of corporate treasuries holding Bitcoin continues to climb. With a market cap of just over $2 trillion and trillions settled annually on-chain, Bitcoin's role as a legitimate financial layer is increasingly clear, hastening the need for scalable infrastructure. Blockstream has been building that infrastructure for over a decade. Founded in 2014 by Dr. Adam Back—inventor of Bitcoin's proof-of-work (PoW) mechanism—the company has focused from the outset on expanding Bitcoin's functionality without compromising its foundational principles. Blockstream Research, led by renowned cryptographer Andrew Poelstra, is a key contributor to Bitcoin Core and drives advances in applied cryptography and protocol development. On the product side, Blockstream maintains Core Lightning (CLN) for scalable payments, the Liquid Network and Blocksteam Asset Management Platform (AMP) for tokenized asset issuance and settlement, as well as self-custody tools including the open-source Jade hardware wallet. The All-New Blockstream App—Self Custody on Your Terms Headlining today's keynote was the launch of the all-new Blockstream app—a streamlined, self-custodial experience that lets users buy bitcoin and secure it immediately in their own wallet. Built on the foundation of the trusted Blockstream Green wallet, the updated app offers seamless support for managing Bitcoin and Liquid assets within a redesigned interface tailored to both new and experienced users. The Blockstream app is designed to make onboarding intuitive from day one, minimizing friction while staying true to the principles of self-custody. Users can begin simply and gradually adopt more advanced features at their own pace—including hardware signing and air-gapped transactions with the Blockstream Jade. Current Blockstream Green users will find all existing functionality preserved within the redesigned interface. With support for 31 languages, the app makes Bitcoin accessible to anyone with a smartphone, opening the door to secure, sovereign finance worldwide 'The new Blockstream app isn't just a wallet,' said Peter Bain, VP of Consumer Products at Blockstream. 'It's a gateway to the full power of Bitcoin—enabling secure savings, fast payments, and seamless management of tokenized assets, all within an intuitive interface designed for both newcomers and hardcore bitcoiners.' Blockstream Enterprise: Accelerating the Development of Bitcoin-Native Financial Infrastructure Dr. Back also used his keynote to highlight the growing importance of Blockstream Enterprise, the company's evolving platform for corporations, governments and participants across the broader financial sector. Underpinned by the Liquid Network and Blockstream AMP, the platform enables secure asset issuance, as well as treasury and balance sheet management. It also facilitates integration with custodians, exchanges and core financial systems via industry-standard FIX and REST APIs. With the first iteration of AMP already available and additional features rolling out over time, the platform builds on Liquid's momentum, which recently surpassed $3.27 billion in total value locked (TVL). In doing so, it provides a Bitcoin-native foundation for tokenization and institutional settlement focused on regulated custody, compliant off-exchange settlement, and programmable financial instruments. 'As capital markets evolve, businesses, institutions, and governments will need infrastructure that is secure, programmable and built directly on Bitcoin's rapidly growing network,' said Dr. Back. 'Blockstream Enterprise brings that infrastructure together—enabling asset issuance, management, and settlement on Liquid, Bitcoin's first and most battle-tested sidechain.' Unifying Consumer, Enterprise, and Institutional Products Today's keynote marks a strategic inflection point, aligning Blockstream's efforts across the three market segments it serves. In 2024, the company raised $210 million to accelerate development and launched Blockstream Asset Management (BAM), a dedicated division focused on institutional-grade Bitcoin investment products. The company has also deepened collaborations with regulated custodians, corporate treasuries and financial service providers to support the integration of Liquid and AMP into existing financial infrastructure. The Future of Finance Runs on Bitcoin The vision laid out by Dr. Back reflects Blockstream's conviction that Bitcoin is no longer just a $2 trillion asset class but a settlement layer, a development platform, and the most credible foundation for building the next financial system. 'The financial world is waking up to what we've known for years,' said Dr. Back. 'Bitcoin is here to stay —and it's never been easier to build on it. From first-time users to trillion-dollar institutions, our aim is to give everyone the tools to participate in this new economy, with the transparency, security and resilience that only Bitcoin can provide.' To learn more visit Booth 2121 at Bitcoin 2025 or visit Download the new Blockstream app today and take control of your Bitcoin—on your terms. Institutions, enterprises, and governments interested in building on Bitcoin with Liquid and AMP can connect with the Blockstream team directly at business@ About Blockstream Founded in 2014, Blockstream is a global leader in Bitcoin and blockchain infrastructure, with offices and team members distributed around the world. Serving as the technology provider for the Liquid Network, Blockstream offers a sidechain solution that enables secure, trustless Bitcoin swap settlements and robust smart contracts, empowering financial institutions to tokenize assets efficiently. The company's Core Lightning is a leading implementation of the open Lightning Network protocol, widely adopted for enterprise Bitcoin Lightning Network deployments. Blockstream Jade, an open-source hardware wallet, delivers advanced security for Bitcoin and Liquid assets in an easy-to-use form factor. For consumers, Blockstream app is a highly secure and user-friendly Bitcoin wallet. Disclaimer This press release contains forward-looking statements, including but not limited to statements regarding the expected launch timeline of the Blockstream Enterprise platform and time to market of Blockstream Asset Management products. Other 'forward looking statements' may, without limitation, include statements that are preceded by, followed by, or include the words 'believes,' 'expects,' 'anticipates,' 'intends,' 'plans,' 'estimates,' 'foresees,' or similar expressions, and other statements concerning anticipated future events and expectations that are not historical facts. Actual results may differ materially due to regulatory developments, competition from other hardware and technology services providers (in the case of Jade and the app) and both traditional finance and crypto native managers (in the case of BAM), market conditions and other risks. Actual results may differ materially. Blockstream undertakes no obligation to update these statements. Blockstream is not a registered investment, legal, or tax advisor. Nothing in this communication should be construed as investment advice or a solicitation to buy or sell any financial instrument.
