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Research: More companies turning to mainframes for blockchain initiatives

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New research suggests mainframe technology is a key part of many business’ blockchain plans 

Go by the standard cliché, and mainframe technology is legacy and for the past, whilst blockchain is cutting edge and the future. Never the twain shall meet. But the reality is very different, with fresh research revealing that the two are crossing over more and more. In fact, a hybrid approach is a trend that’s set to continue for some time to come.

Forrester Consulting undertook said research, which was commissioned by hybrid IT services firm Ensono and global information experts Wipro Limited. 153 IT decision makers of director level and higher were questioned across America and Europe, and the results suggested a union of traditional and emerging technologies.

A quarter of firms questioned are using mainframe installations to help in the emergence of new technology innovations. Thus, on the one hand, legacy applications are running on mainframes as always. But also containerised microservices, mobile applications and blockchain projects are running on them too.

This hybrid approach is seeing a growing number of firms using a mainframe for business-critical and on-premises applications, such as finance, human resources and enterprise content management, whilst moving other services to cloud hosting. What’s surprising therefore is that the mainframe is being seen as a pertinent technology for the likes of blockchain, although its strong security and parallelization features are clearly compelling and perhaps make that less of a surprise.

Ensono’s Brian Klingbeil, the company’s executive vice president of technology and strategy, isn’t surprised by the findings though. “Everything that made mainframe great in the past – security, reliability, versatility, performance – is still true today, and the latest generation of mainframe technology will now run the same cutting-edge applications and services as cloud infrastructure”, he said.

He argued that “organisations don’t modernise in a vacuum”, and that “the research supports what we see in our work with clients, where many larger organisations are settling on a hybrid best-of-breed approach”. The upside of that is flexibility for IT decision makers, who can choose the right tool for the right job.

This is not a trend in decline, either. One further finding of the research is that 50% of organisations questioned were looking to continue and expand their use of mainframe technology over the next two years, with just 5% of firms going the other way.

“We believe modern mainframes will have a significant role to play in the hybrid future of infrastructure”, argued Wipro’s Kiran Desai (its senior vice president and global head of cloud and infrastructure services), noting too that “mainframe modernisation is central to a long-term holistic hybrid IT strategy for enterprises leveraging mainframes”.

The full research – going by the name ‘Old Workhorse for New Tech’ – can be read in full here. 

The post Research: More companies turning to mainframes for blockchain initiatives appeared first on CryptoNewsReview.

Source: https://cryptonewsreview.com/research-more-companies-turning-to-mainframes-for-blockchain-initiatives/

Blockchain

NYC Auction House Features Bitcoin-Themed Art Containing Original Code

Christie’s New York auction house is featuring a piece of bitcoin-themed artwork that represents a portion of the protocol’s original launch code.

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A massive piece of artwork containing a portion of bitcoin’s code is being auctioned at Christie’s New York. 

According to the official website, Christie’s auction house in New York is hosting a massive piece of bitcoin-themed artwork. The project, dubbed “Block 21,” is one of forty pieces of art in a series depicting the entire 12.3 million digits of bitcoin’s original code. 

Block 21 contains 322,048 digits of hexadecimal code, some inscribed in gold. The art collection, which currently spans the globe, is more than 50 meters long in total, with the entirety of bitcoin’s historic v0.1.0 code hand-inscribed on its surface. 

Ben Gentilli, the artist behind the project, calls the collective series “Portraits of a Mind.” He described each piece as a digital fingerprint carved out of paint and attributed the artwork as a portrait of bitcoin’s anonymous founder Satoshi Nakamoto. 

Gentilli told Decrypt, 

Bitcoin’s original codebase is like a historical document, and I wanted to celebrate it and preserve it in the same way as a document like the Magna Carta. But I also wanted to try and answer the question of how one might make a portrait of Satoshi Nakamoto, when there is no image of him.

He continued, calling Portraits of a Mind a decentralized piece of art reflecting the underlying nature of bitcoin. 

Featured Image Credit: Photo via Pixabay.com

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Crypto Market Cap Gained $10 Billion, Bitcoin Eyes $11,000? (Saturday’s Market Watch)

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The cryptocurrency market continues to rebound and has added another $10 billion to its market cap since yesterday. Bitcoin trades around $10,700, while some leading altcoins mark serious gains.

Bitcoin Price Trades Around $10,700

Following yesterday’s increase in which Bitcoin topped at $10,800, the primary cryptocurrency retraced to its intraday bottom at about $10,550. However, the bulls intercepted the price dip and drove the asset upwards once again. Just as 2020 goes so far, this Bitcoin spike followed the 1-2% gains seen on Wall Street at the Friday trading session.

The S&P 500 (1.6%), the Dow Jones Industrial Average (1.34%), and the Nasdaq Composite (2.26%) were all deep in the green.

At the time of this writing, BTC has dipped to $10,760 after getting rejected at the first major resistance at $10,790.

As per the analysis, if BTC price breaks above, it could head towards the next resistance at $11,000, followed by $11,200, $11,360, and $11,530. Alternatively, should the asset fall, it could rely on the support levels at $10,580, $10,440, and $10,390, if necessary.

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BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Despite stocks and cryptocurrencies, gold had failed to increase: Recording an intraday high of $1,875, the precious metal dived and closed the session at $1,860.

Altcoins Gain Traction

Some alternative coins lost significant chunks of value lately, but they have been recovering in the past few days. Ethereum has continued its upward movement with another 3% increase to above $350.

Ripple has surged by 5% to $0.243. Bitcoin Cash (1%), Polkadot (3%), Binance Coin (1%), and Litecoin (3%) are also in the green from the top 10. However, Chainlink has outperformed them all by marking an 11% increase. LINK has overtaken BNB and DOT and currently occupies the 6th spot.

Cryptocurrency Market Overview. Source: coin360.com
Cryptocurrency Market Overview. Source: coin360.com

As it typically happens, the most volatile price moves come from mid and low-cap alts.

CyberVein leads with a 21% surge. Ren (20.5%), Yearn.Finance (17%), The Midas Touch Gold (14%), DFI.Money (14%), Cardano (11%), Zilliqa (11%), HedgeTrade (10.5%), and Nervos Network (10%) follow.

In total, the cryptocurrency market cap has increased by $10 billion since yesterday. On a 48-hour scale, the metric is up by 8% since its bottom at $319 billion to $344 billion.

Total Market Cap. Source; CoinMarketCap
Total Market Cap. Source; CoinMarketCap
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Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/crypto-market-cap-gained-10-billion-bitcoin-eyes-11000-saturdays-market-watch/

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Bitcoin Always Online In Venezuela: Launched The First Satellite Node In Collaboration With Blockstream

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Bitcoiners in Venezuela don’t need the internet to send some Satoshis. Today, the crypto payments startup Cryptobuyer announced the successful launch of the first Bitcoin satellite node thanks to a collaboration between Cryptobuyer, Blockstream, and a team led by a crypto enthusiast named Aníbal Garrido.

The initiative allows interacting with the Bitcoin blockchain without the need of an internet connection. A satellite antenna installed in Venezuela is in charge of the communication between the node and the blockchain.

How the Satellite Node Works

This novel solution allows the Venezuelan node to process information in real-time completely off-line. Thus, the normal functioning of the network in case of connectivity failure (something widespread in the country) is guaranteed. It also facilitates the use of cryptocurrencies in remote places where internet service is scarce, expensive, or even non-existent.

The project works as follows: Blockstream contracts a number of satellites to provide the communication service between the nodes and the blockchain. Cryptobuyer bought the necessary equipment to receive the signal and connect to the satellite, and Anibal Garrido and his team were in charge of assembling the antennas and making the required adjustments.

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For Alvaro Perez, a software programmer from Valencia City who helped set up the whole infrastructure, the node’s synchronization was an inspiring moment. In statements compiled by Cryptobuyer on an official blog post, the expert says that the operation was a “great achievement.”

“We downloaded the whole Bitcoin blockchain and successfully carried out the first transaction through a Bitcoin satellite node in our country on September 23, from the city of Valencia (…) We received bitcoin through the satellite connection without any internet connection. It was a moment of great achievement.”

The journey is just beginning for Bitcoiners in Venezuela

This would be the first of three antennas that Cryptobuyer plans to deploy to cover the country’s most critical areas. The remaining two will be placed in the country’s capital, Caracas, in the north of Venezuela, and Puerto Ordaz, an industrial city located south of the country.

Later on, they plan to deploy a large number of small devices that will serve as a sort of repeater antenna to create a sizeable mesh-type network that will facilitate transactions in Bitcoin even far away from the primary antenna.

Now there’s no excuse to start using some satoshis in the country. Venezuela keeps proving that it has plenty of reasons to be on the podium of the three countries with the most adoption of Bitcoin around the world.

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Source: https://cryptopotato.com/bitcoin-always-online-in-venezuela-launched-the-first-satellite-node-in-collaboration-with-blockstream/

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