NChain

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nChain
Nchain.jpg
Headquarters London, England, U.K.
Key People Craig Wright (Co-Founder, Chief Scientist), Jimmy Nguyen (CEO)
Employees 25-50
Twitter @nChainGlobal
LinkedIn Profile
Website nChain Homepage
Releases Company News
Blog nChain Blog

nChain is a fintech company specializing in cryptocurrency software development and research.[1] Its chief scientist is Dr. Craig Wright, who is famous for being the first individual to publicly claim to be Satoshi Nakamoto.[2]

Background

nChain was founded in 2017 by Dr. Craig Wright.[3] Jimmy Nguyen, the company's current CEO, joined the company in December 2017.[4]

Overview

Dr. Craig Wright founded the company in order to help bitcoin "scale and grow...to become what it was envisioned to be.”[5] This quote, of course, came before the historic bitcoin fork that led to the creation of Bitcoin Cash (BCH).[6] Since this occurred, nChain has fully thrown in its support with BCH. The company's official blog refers to bitcoin's original, or "legacy" blockchain as the "SegWit" blockchain, which is short for "segregated witness," a technical update to the bitcoin blockchain's code that would allow it to adjust to increased usage and transactions imprinted on the blockchain while reducing the speed and cost of making transactions.[7]

To this end, much of nChain's current production involves making and releasing software development kits (SDKs) to help create applications and technical solutions for BCH. In April 2018, nChain announced it would be offering smart contract patents exclusively to developers in the Bitcoin Cash community through a software protocol they invented. The company secured its first approved patent with the European Patent Office (EPO) for an "automated management method for blockchain-enforced smart contracts." This automated management method, curated by Dr. Wright, would allow the storing of digital assets and open-source, or "free" development tools for members of the Bitcoin Cash network.[8][9]

Handcash Wallet

In May 2018, nChain acquired HandCash, a wallet that allows users to make peer-to-peer payments using a simple physical motion with a smartphone. Instead of relying on public addresses or QR codes, the creators of HandCash designed it so that two users can transfer cryptocurrency to each other by holding their mobile devices close to each other, similar to contactless credit cards and Apple Pay. Those involved with the HandCash project have said that they specifically planned on using BCH for its "low fees and instant confirmations." The wallet also allows users to identify each other using usernames, or "handle" names, instead of relying on public addresses or QR codes.[10]

Bitcoin SV

In August 2018, nChain proposed the integration of "Bitcoin SV" (SV stands for "Satoshi Vision") as an alternative upgrade to a controversial upgrade proposed by ABC Bitcoin, a rival developer. This added to the already derisive tension in the Bitcoin Cash community, raising concerns that the community may split following a hard fork, similar to the split that originally created Bitcoin Cash.[11][12]

References