Bitcoin prices soar and tumble, MongoDB announces its biggest release, and a proposed Grid to improve blockchain system, in today’s top stories in data science news.
Bitcoin’s roller-coaster amid SegWit2x cancellation
Bitcoin price surges to record high, then tanks, as plans to split digital currency is called off
Bitcoin was scheduled to upgrade around Nov. 16 following a proposal called SegWit2x, which would have split the digital currency in two. But with major bitcoin developers dropping their support for the upgrade recently, developers behind SegWit2x called off the upgrade plans on Wednesday. In response to this, bitcoin price reached an all-time high around $7,900. However, this was followed by a $1,000 crash, plummeting the price to $6,977. Experts believe the rapid price swing could denote a possible conflict between the short- and long-term impacts of SegWit2x cancellation. The hard fork would have split Bitcoin into two competing blockchains, resulting in an ugly fight for supremacy.
Announcing MongoDB 3.6
MongoDB 3.6 released: Change Streams, Retryable Writes among key updates in MongoDB’s biggest ever release
MongoDB has announced its biggest release yet, version 3.6, with over a hundred new and updated features. With new array update operators, users can now specify in-place updates to specific array items at any depth of nesting. Extensions to the $lookup aggregation stage now allow uncorrelated subqueries and multiple matching conditions, so referencing and joining documents in complex combinations can be handled in the database. Also, MongoDB 3.6 introduces Change Streams, which applications can use to get real-time notification of updates to collection data. To handle network outages gracefully, MongoDB 3.6 uses Retryable Writes, a new feature ensuring that writes are performed exactly once, even in the face of outages. Besides, MongoDB 3.6 improves on its previous capabilities with the introduction of JSON Schema. “With MongoDB 3.6, schema isn’t a straightjacket, it’s framework of validation you can tune to exactly the degree you need,” Co-Founder Eliot Horowitz said in the official announcement.
A new ‘Grid’ blockchain system
Introducing Grid: A scalable Blockchain system for better performance, resource segregation and working governance model
A new blockchain initiative Grid proposes to establish a blockchain system which functions as an operating system similar to Linux. As per the modus operandi, Grid will run nodes on clusters. It will allow assigned transactions to different groups based on mutex of the transactions. Transactions within a group will be processed in linear sequence, while all groups will be processed simultaneously. Grid adopts a Main Chain + N Side Chains architecture, which means each business scenario has its dedicated Side Chain to fulfill its requirements. By segregating resources like this, processing efficiency of the system is increased and there is no congestion. Grid also promises a better governance model by permitting Side Chains to join or exit from Main Chain dynamically based on stakeholder voting, therefore introducing competition and incentive to improve each Side Chain. Singapore-based Grid Foundation is promoting Grid’s development and applications, while technical developments will be led by Beijing Hoopox Information and Technology Co. Ltd.