Mt. Gox, Bitcoin currency trader, is going to be using Akamai, cloud platform provider, with improved performance and security in sight.
In its August status update, Mt.Gox which is known as Bitcoin’s biggest currency trader (from Bitcoins to Dollars and vice versa) announced that it is being hosted by Akamai with the anticipated outcome of greater speed and security and that being “self-hosted” allows for increased control and flexibility. Considering that US Dollar trading was recently stopped, for a few weeks, for the purpose of service development and that Bitcoin’s April crash led to Mt.Gox’s suspended trading; this is promising news and will hopefully be, as the company says, “a major step up for Mt. Gox in our evolution.”
In addition to its partnership with Akamai, other status updates were reported, including an apology for the postponed execution of Litecoin which is promised to be up and running once all variables are resolved.
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In terms of deposits and withdrawals, Mt.Gox states that it is in negotiations with new banks and partners in order to improve these transfer services. It takes up to 10 days for a deposit to be processed and as explained, the company’s bank holds funds for 7-10 days before Mt.Gox receives them which means that often, customers have been credited followed by the bank’s rejection of the transfer and Mt.Gox forced to incur costs. It hopes to develop banking relationships that will speed up the process and thus eliminate this problem, because, as announced, it will no longer be taking these financial risks.
Bitcoin is popping up in payment news, daily, and a focus on the usability of Bitcoin for online merchants and consumers seems to be a common sub-theme for digital currency. Just a few days ago, news was published about a project under-way that is building digital currencies into web browsers, illustrating the explosion that is digital currency and forcing us to assess how we can effectively leverage digital currencies in our own payment solutions.