Bitcoin News Mash-Up: Circle’s New Wonder; Copay Asynchronous Nature; and More

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Bitcoin News Mash-Up

Following are the major Bitcoin news of the day

Circles Launches Global Payment Platform
After staying active as an invite-only Bitcoin bank, Circle yesterday announced to take its service global. Following the announcement, almost any user can sign up and send, receive or store Bitcoins without any hassle. Circle has by far collected $26 million in funding, even if its source code was under testing for several months. The bank’s CEO Jeremy Allaire stated:

“Circle is designed for new users who are coming into this world. We introduced a product that’s free to use. We’ve created something that’s easier to use, better economically.”

Copay Now Functioning Asynchronously
Copay, an open-source wallet sponsored by the world’s leading third party payment processor BitPay, can now be used asynchronously. A recent blog on BitPay stated the earlier difficulties faced by the Copay users, which involved their presence to “create a transaction spending bitcoin from a wallet”. Following the implementation of Copay asynchronous feature, users can now sign or reject a transaction without their requirement of being online. The platform has lately integrated with Insight, an open sourced API blockchain for Copay users. The blog reads:

“The main focus behind this change was improving availability and usability of copay. While this does add a bit of centralization to the operation of Copay, we think the compromise is worth it. Anyone can run their own Insight server, and each Copay user still holds their private keys locally without ever sharing them to the network. The bitcoin network is the only way the multiple signatures are validated, there is no centralized process there. This is just another step towards having a really easy to use multisignature platform.”

Butterfly Labs Mined Bitcoins before Selling the Equipment
Federal Trade Commission accused the recently-convicted Butterfly Labs to mine Bitcoins from the very machines that were ordered by their customers. The company reportedly made quite a whopping amount (in cryptocurrency) by performing such an illicit act. According to the one of the prosecutors, Butterfly Labs was deeply involved in conducting multiple fraudulent practices – one of them being spending customers’ investments on personal luxuries.

To contact the reporter of the story: Yashu Gola at yashu@forexminute.com