Scientists propose a new way to build a scalable, low-energy Bitcoin

Four months can make a lifetime’s worth of difference to a project like Facebook's Libra. 

When he appeared before Congressional representatives in July, Libra co-creator David Marcus adopted an aggressive posture and refused to halt development of its blockchain and cryptocurrency for the sake of regulators. Back then, curiosity about the project was high and lawmakers were asking for a moratorium on its development until they could understand its implications.

Marcus’ boss, Facebook CEO Mark Zuckerberg, appeared more contrite in his Congressional appearance today. “Our views [about Libra] have clarified,” he said in response to a question from Rep. Juan Vargas (D-CA). 

That clarification includes a commitment to withdraw Facebook from Libra, if it was not approved by U.S. regulators, a rebranding of Libra as a payment system instead of a currency, and an admission that their blockchain was, in fact, not decentralized like most cryptocurrencies.

Pi Network seeks to offset the environmental damage done by Bitcoin mining

A new cryptocurrency network launched earlier this year by a group of Stanford graduates claims to have what it takes to succeed where Bitcoin has failed: a way to bring crypto to the masses, and without the energy-guzzling blockchain that damages the environment.

The Pi Network is a new type of “social cryptocurrency” that the Standford PhDs and graduates behind it—Nicolas Kokkalis, Chengdiao Fan, and Vince McPhillip—say is so lightweight and easy to use, it’s designed to run on mobile phones.

Here are the biggest stories in the cryptoverse:

• XRP an actual cryptocurrency says US congressman.
• Blockchain a democracy killer, says McKinsey senior advisor.
• Bitcoin energy consumption approaches Belgian equivalent. 
• Telegram token investors reject refund offer.

The world is built on a giant $256 trillion pile of assets. Everything from property to art, to stocks to oil. Blockchain wants to change all that. This collection explores the industries being disrupted, by whom, and what that means for both consumers and enterprises. We've delved deep into the tokenized world to uncover the people, the projects and the potential of this technology to change capital forever.

BBC embraces the dark web, mirrors website for Tor users

What you need to know

While critics may chastise the Tor Network for its associations with online black-market dealings made in cryptocurrencies, the British Broadcasting Company (BBC) sees Tor as an opportunity to fight censorship.

Why it's important

The British news agency announced today that it is making its website available to Tor users by providing a “dark web copy” viewable on Tor browsers. The idea is to ensure access to its news stories in parts of the world where such information might be censored.

Startup uses DNA and blockchain to trace maritime fuel

Forensics and blockchain technology are coming together to help track maritime fuel supplies.

London-based startup BunkerTrace is hoping to improve accountability by putting synthetic DNA into the fuel—known as “bunker”—at each stage of the supply chain, which will then be logged on the blockchain.

Read more here.