Bitcoin Whale Revealed As Buterin Rants On Twitter

It might only be Tuesday but there’s a lot of news coming out of the crypto industry as a £2.9 billion Bitcoin whale has been exposed. The Ethereum co-founder, Vitalik Buterin has news to shout about. Let’s go through some of the hottest stories of this week so far:

There has been a huge amount of Bitcoin which has been transferred recently. The total sum is just under $3 billion, at the current time of writing and it has been traced back to the crypto exchange giant, Coinbase.

The Chinese crypto outlet, 8BTC have said that the movement of almost 850,000 Bitcoin came from the biggest crypto exchange in the United States which posted a Notice of Blockchain Movements in late November.

“Over the next seven days, Coinbase will be running scheduled maintenance across our platform that may cause movements on all Coinbase-supported blockchains. These are controlled, closely monitored movements that are being performed in order to provide enhanced security and protection for our customers.”

The co-founder of Ethereum, Vitalik has said that the blockchain can do a lot more than just making improvements to the financial world. In order to prove this point, Buterin took to Twitter to make a rant regarding the subject.

“Time for a brief tweetstorm on non-financial applications of blockchains. As blockchain scalability gets better and better, and UX improves and fees drop as a result, this will become a bigger and bigger part of the story.

One underappreciated way to view blockchains is as an extension of cryptography that does different things. Cryptography allows you to encrypt data, prove data was signed by someone, etc etc…. blockchains OTOH allow you to prove that a piece of data was *not* published.

A simple example is a blockchain university degree verification app I saw recently. A degree is certified with just a digital signature, but *revocations* are put on chain. With cryptography alone you can’t check that a revocation was *not* signed; but with a blockchain….

To check that a degree was not yet revoked, you simply scan the chain and check all of the logs of the revocation contract. If a given degree was signed, and the revocation is not found on chain, then that means it’s still valid.”

What are your thoughts? Let us know what you think down below in the comments!