coinbase

Bitcoin exchanges Coinbase and GDAX added full support for bitcoin cash on Tuesday evening, and the rollout did not go smoothly.

Bitcoin Cash Price Explodes After Coinbase Listing

Earlier today, Coinbase announced in a blog post that it had added full support for bitcoin cash, the third-largest cryptocurrency by market cap, enabling users to buy, sell, send, and receive the coin on both Coinbase and GDAX, its professional trading platform. Customers who had coins stored on the exchanges at the time of the fork also received access to their airdropped funds.

The bitcoin cash price surged to record levels in response to the announcement, reflecting the fact that Coinbase’s brokerage service is one of the primary ways in which new users in many countries — the U.S. in particular — purchase cryptocurrency. Some analysts attribute the recent litecoin and ethereum rallies, for instance, to their presence on Coinbase amid an explosion of new user registrations.

bitcoin cash price
Source; CoinMarketCap

Within hours, the global average bitcoin cash price had jumped from $2,300 to $3,000, and it swelled as high as $3,813 before settling down to a present value of $3,224, according to the BlockExplorer price index. This movement represented a single-day increase of 47 percent and lifted bitcoin cash’s market cap to nearly $55 billion.

A Messy Rollout

The news was a huge boon for bitcoin cash proponents, as it further cemented the coin as a top-tier cryptocurrency and made it more accessible to new investors, many of whom likely remain unfamiliar with it.

However, for the company, the rollout could not have gone much worse.

Coinbase’s pricing data comes from GDAX, where the bitcoin cash price quickly — and inexplicably — shot up to $8,500 before the exchange shut down BCH trading and cleared the order books just minutes after their launch.

bitcoin cash price
Source: Coinbase

At press time, GDAX’s BCH markets remained offline, with the last posted trade priced at $9,500. Coinbase, however,  had adjusted the bitcoin cash price down to $3,193, a level that corresponded to the global average.

The rollout left users confused — and enraged — and scores of frustrated users took to social media channels to vow that they would cease to use either Coinbase or GDAX.

It is likely that cooler heads will prevail once GDAX corrects whatever issue caused the price to leap to $9,500 and launches stable BCH markets. Nevertheless, the incident marks yet another public relations headache for Coinbase following a year of unprecedented expansion that has been accompanied by significant growing pains.

Featured Image from Pexels

The BlockExplorer Team is proud to announce the release of our Bitcoin Cash blockexplorer. Please check out our new Bitcoin Cash blockexplorer at https://bitcoincash.blockexplorer.com.

How to use the Bitcoin Cash Blockexplorer

If you’re wondering how to use the Bitcoin Cash blockexplorer to view BCH transactions or BCH blocks. Simply click here for more information on how to use a Blockexplorer.

blockexplorer example

BlockExplorer allows you to view information about transactions, blocks, and addresses on the Bitcoin, Bitcoin cash, and Zcash blockchains. On the main page of BlockExplorer, you will see information about the bitcoin blockchain, specifically the most recent blocks and transactions. you can select which cryptocurrency you want to view at the top of the page, and just below that you can search for block heights, transaction hashes, and addresses, and you can select which currency you wish values to be displayed to you in, this defaults to USD.

How to view blocks on BlockExplorer

For blocks, you can see the height of the block, how long ago it was mined, how many transactions were on the block, who mined it (if that information is available), and the size of the block in bytes. You can also see a constantly updating list of all the most recent transactions sent to the network

You can either click on a block height or search for a block height to view more specific information about the block, such as the number of transactions on the block, the reward that went to the person who mined the block, when the block was mined, and the number of transactions that are stored on that block. Below that information, you can see each individual transaction on the block and some information about it, such as the address it came from and the address it was sent to, the amount transferred in your selected currency, and the number of confirmations the transaction has.

How to view transactions on BlockExplorer

If you click on a transaction hash or search for one, you can view details on that transaction, such as the size in bytes it takes up in its block, the fee per kilobyte at the time of the transaction, the time it was received, and the block it is in (if applicable). Below that you can see specific information on who the transaction came from, where the transaction was sent, and how much currency was involved

How to view addresses on BlockExplorer

If you click on an address you can see what transactions have been sent to it, the total amount of currency it has received, how much it has spent, and how much it currently has available

What are blocks, transactions, and address?

A block is a list of transactions when a block is mined all the fees for the transactions in it go to the miner, and the block is added to the blockchain. A transaction is just that, a transfer of cryptocurrency from one address to another, minus the fee. 

BlockExplorer has a Bitcoin Blockexplorer, a Bitcoin Cash Blockexplorer, and a Zcash Blockexplorer. Stay tuned for more!

top cryptocurrencies november 2017

Since the release of Bitcoin, cryptocurrencies and blockchain technology have taken the world by swarm. Typically, a cryptocurrency is differentiated from a normal, fiat, currency because it is decentralised, not centralised. Cryptocurrencies allow internet users to transfer value in a peer-to-peer (p2p) system without middle men. This means that payments cannot be censored, and financial friction will inevitably be lessened internationally. Over the last several years, we have seen all of these use cases slowly come to fruition.

Where Bitcoin and most other altcoins are only psuedonymous, new cryptocurrencies such as Zcash can actually be provably anonymous. Still others, such as Ethereum, have created decentralised platforms for smart contracts – paving the way for our decentralised future. Some of these cryptocurrencies use Proof of Work (PoW) while some use Proof of Stake (PoS) – still others use a hybrid model, or a different type of consensus algorithm to address the Byzantine Generals’ Problem altogether.

No matter how you look at it, since the release of Bitcoin in 2009, the cryptocurrency space has evolved – and is still evolving. Now that 2017 is coming to an end, let’s take a step back and look at the top 25 cryptocurrencies from 2017. Use this list to find the best cryptocurrency for you!

Where can I buy these cryptocurrencies? You’re in luck! BlockExplorer also has a Top 25 Cryptocurrency Exchanges List of 2017 that will let you compare different exchanges around the world and choose the one that’s best for you.

Disclaimer: Buy cryptocurrency at your own risk.  This top cryptocurrencies list does not constitute professional financial advice.

Top 25 Altcoins, Blockchains, and Cryptocurrencies (2017 Edition)

1. Bitcoin (BTC)

Max supply: 21,000,000.0
Current supply: ~16,705,000
Hashing algorithm: SHA256
Proof Type: PoW
Start Date: January 3rd, 2009
Difficulty adjustment frequency: 2016 blocks
Block reward: 12.5
Blockexplorer: https://www.blockexplorer.com

2. Ethereum (ETH)

Max supply: N/A
Current supply: ~96,000,000
Hashing algorithm: Ethash
Proof Type: PoW (PoS planned)
Start Date: July 30th, 2015
Difficulty adjustment frequency: Per-block
Block reward: 3

3. Litecoin (LTC)

Max supply: 84,000,000
Current supply: ~54,020,000
Hashing algorithm: Scrypt
Proof Type: PoW
Start Date: October 10th, 2011
Difficulty adjustment frequency: 2016 blocks
Block reward: 25

4. Bitcoin Cash (BCH)

Max supply: 21,000,000
Current supply: ~16,825,500
Hashing algorithm: SHA256
Proof Type: PoW
Start Date: August 1st, 2017
Difficulty adjustment frequency: Median Time Past (11 blocks)
Block reward: 12.5
Blockexplorer: https://bitcoincash.blockexplorer.com

5. Ripple (XRP)

Max supply: 38,305,873,865.0
Current supply: 38,305,873,865.0
Hashing algorithm: N/A
Proof Type: N/A
Start Date: February 2nd, 2013
Difficulty adjustment frequency: N/A
Block reward: N/A

6. Bitcoin Gold (BTG)

Max supply: 21,000,000
Current supply: ~16,775,123.4
Hashing algorithm: Equihash
Proof Type: PoW
Start Date: October 25th, 2017
Difficulty adjustment frequency: Per-block
Block reward: 12.5

7. Dash (DASH)

Max supply: 22,000,000
Current supply: ~7,716,621.9
Hashing algorithm: X11
Proof Type: PoW/PoS
Start Date: January 18th, 2014
Difficulty adjustment frequency: Per-block, Dark Gravity Wave (DGW)
Block reward: 3.6

8. IOTA (IOT)

Max supply: 2,779,530,283.0
Current supply: 2,779,530,283.0
Hashing algorithm: N/A
Proof Type: Tangle
Start Date: July 17th, 2016
Difficulty adjustment frequency: N/A
Block reward: N/A

9. Ethereum Classic (ETC)

Max supply: N/A
Current supply: 97,858,853.0
Hashing algorithm: Ethash
Proof Type: PoW
Start Date: July 23rd, 2016
Difficulty adjustment frequency: Per-block
Block reward: 5

10. NEO (NEO)

Max supply: 100,000,000
Current supply: 100,000,000
Hashing algorithm: N/A
Proof Type: Delegated Byzantine Fault Tolerance (dBFT)
Start Date: October 17th, 2016
Difficulty adjustment frequency: N/A
Block reward: N/A

11. Monero (XMR)

Max supply: N/A
Current supply: ~15,407,875.5
Hashing algorithm: CryptoNight
Proof Type: PoW
Start Date: June 2nd 2016
Difficulty adjustment frequency: 2 blocks
Block reward: 6

12. NEM (XEM)

Max supply: 8,999,999,999
Current supply: 8,999,999,999
Hashing algorithm: N/A
Proof Type: Proof of Importance (PoI)
Start Date: March 31st, 2016
Difficulty adjustment frequency: N/A
Block reward: N/A

13. EOS (EOS)

Max supply: 1,000,000,000
Current supply: 1,000,000,000
Hashing algorithm: DPoS
Proof Type: Delegated Proof of Stake (DPoS)
Start Date: June 26th, 2016
Difficulty adjustment frequency: N/A
Block reward:N/A

14. Cardano (ADA)

Max supply: 45,000000000
Current supply: ~25,927,070,538
Hashing algorithm: Ouroboros
Proof Type: PoS
Start Date: January 28th, 2017
Difficulty adjustment frequency: N/A
Block reward: N/A

15. Qtum (QTUM)

Max supply: 100,000,000
Current supply: 100,000,000
Hashing algorithm: POS 3.0
Proof Type: PoS
Start Date: December 19th, 2016
Difficulty adjustment frequency: N/A
Block reward: N/A

16. OmiseGO (OMG)

Max supply: 140,245,398
Current supply: 140,245,298.2
Hashing algorithm: N/A
Proof Type: PoS
Start Date: June 23rd, 2017
Difficulty adjustment frequency: N/A
Block reward: N/A

17. Zcash (ZEC)

Max supply: 21,000,000
Current supply: ~2,714,456.3
Hashing algorithm: Equihash
Proof Type: PoW
Start Date: October 28th, 2016
Difficulty adjustment frequency: Per-block
Block reward: 10
Blockexplorer: https://zcash.blockexplorer.com

18. Stellar (XLM)

Max supply: 100,804,167,793
Current supply: 17,713,853,990
Hashing algorithm: N/A
Proof Type: N/A
Start Date: July 23rd, 2016
Difficulty adjustment frequency: N/A
Block reward: N/A

19. Lisk (LSK)

Max supply: 159,918,400
Current supply: ~115,352,280
Hashing algorithm: DPoS
Proof Type: PoS
Start Date: May 24th, 2016
Difficulty adjustment frequency: N/A
Block reward: N/A

20. Tether (USDT)

Max supply: N/A
Current supply: 674,967,839.0
Hashing algorithm: N/A
Proof Type: N/A
Start Date: October 6th, 2014
Difficulty adjustment frequency: N/A
Block reward: N/A

21. Waves (WAVES)

Max supply: 100,000,000
Current supply: 100,000,000
Hashing algorithm: Leased POS
Proof Type: Leased Proof of Stake (LPoS)
Start Date: December 6th, 2016
Difficulty adjustment frequency: N/A
Block reward: N/A

22. Stratis (STRAT)

Max supply: N/A
Current supply: ~98,639,001
Hashing algorithm: X13
Proof Type: PoW/PoS
Start Date: August 9th, 2016
Difficulty adjustment frequency: N/A
Block reward: 1

23. Bitshares (BTS)

Max supply: 2,511,952,117
Current supply: 2,511,952,117
Hashing algorithm: SHA-512
Proof Type: PoS
Start Date: May 11th, 2014
Difficulty adjustment frequency: N/A
Block reward: N/A

24. Monacoin (MONA)

Max supply: 105,120,000
Current supply: ~55,627,825
Hashing algorithm: Scrypt
Proof Type: PoW
Start Date: January 1st, 2014
Difficulty adjustment frequency: Digishield
Block reward: 25

25. HShare (HSR)

Max supply: 84,000,000
Current supply: ~42,303,371.2
Hashing algorithm: To be announced (TBA)
Proof Type: PoW/PoS
Start Date: October 2nd, 2016
Difficulty adjustment frequency: N/A (TBA)
Block reward: N/A

 

 

bitcoin cash

A miner has successfully recovered more than $600,000 worth of bitcoin cash mistakenly sent to SegWit addresses, and he or she intends to return the coins to their rightful owners — for a fee.

The decision to fork away from the main bitcoin blockchain and create bitcoin cash grew out of a yearslong debate about the appropriate way to scale Bitcoin. However, the timing of the fork was related to the impending activation of the Segregated Witness (SegWit) upgrade on the main network.

Consequently, the Bitcoin Cash network has not upgraded to SegWit, and bitcoin cash transactions get stuck when individuals mistakenly send them to SegWit addresses. These funds can be claimed — by anyone — but the process is technical, arduous, and requires mining hardware. Mining pool BTC.com had recovered 100 BCH and returned them to users, but as of yesterday more than 493 BCH — worth $609,000 — remained stuck in SegWit outputs.

Today, that 493 BCH is no longer stuck. An anonymous miner — known only by the handle “bchsegwitrecover” — revealed on reddit that he or she had successfully recovered the coins.

bitcoin cash
Source: Block Explorer

The miner struck an altruistic tone, stating that he or she had done this as a service to the community.

“Some of you may have noticed this transaction recently which spent 493.54495133 BCH that was stored in segwit outputs,” the post said. “I have taken all of these coins to help those that have mistakenly sent BCH to segwit addresses,” the post said.

Affected users can retrieve their funds by sending the miner a signed message from the address from which the coins were sent — as well as a signed message from the address from which they are recovering the lost funds — and he or she will return them to the owner. The deadline to reclaim the funds is December 5.

There’s a catch, however.

“Because of the significant effort that was required to both claim these BCH and to verify that each person is the person who should be receiving the BCH, I will be taking 30% of the BCH recovered as a recovery fee. This means that you will receive 70% of the funds that was stored with a segwit address,” the post continues.

This might seem like a steep fee. It amounts to more than $180,000 — more if some users do not reclaim their funds. However, as the funds are already in the miner’s possession, victims must choose between reclaiming 70 percent of their lost funds or losing them permanently. All things considered, they are lucky the miner is returning any coins at all.