Hi, I’m Nate Martin from 99Bitcoins.com and here’s what happened this week in Bitcoin. Ethereum successfully upgraded to its latest
version, dubbed “Istanbul” over the weekend. The update contains numerous improvements
that address Ethereum’s security against DDoS and spam attacks,
gas usage costs, and smart contract flexibility. Istanbul also makes Ethereum
interoperable with Zcash. While the fork was highly anticipated, the effect
on the price of ETH has thus far proven mild. $8.9 billion was moved over Bitcoin’s
blockchain within the span of one hour, setting a new hourly record
in terms of value transferred. The amount was moved by the
Bittrex exchange between its cold wallets and consisted of 21 transactions
of roughly 56,000 BTC each. The total fees were less than $15. Privacy-oriented blockchain web browser Brave
has seen the number of its monthly active users almost double from 5 to 10 million in one year. At the same time, the firm announced
that the number of Brave’s daily active users has tripled over the past year to reach 3.3 million. The Brave browser combines privacy with a
blockchain-based digital advertising platform, offers 3 to 6 times faster browsing
than other browsers while giving the masses absolute control
over online activities. The South African Reserve Bank announced
plans to implement new rules for crypto to prevent the evasion of capital controls. The new rules are expected
in the first quarter of 2020. Crypto demand and search interest
are persistently high in South Africa, due to tight capital controls
and a slowing economy. Before we conclude, this week’s
“Bitcoin quick question”: Can Bitcoin survive without the Internet? Well, Bitcoin isn’t completely
dependent on the Internet. Alternative methods for transferring
transaction information such as radio waves, cellular networks or even innovative methods
like Tx-tenna have been successfully used to broadcast Bitcoin transactions. Additionally, The Blockstream Satellite network broadcasts the Bitcoin blockchain around the world 24/7 for free,
protecting against network interruptions. If you want to read more about this topic
just visit the links in the description. That’s what happened this week in Bitcoin.
See you next week.