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Ethereum – Wikipedia

Blockchain platform with programmable transactions

Ethereum is an open source, public, blockchain-based distributed computing platform and operating system featuring smart contract (scripting) functionality. It supports a modified version of Nakamoto consensus via transaction-based state transitions.

Ether is the cryptocurrency generated by the Ethereum platform as a reward to mining nodes for computations performed and is the only currency accepted in the payment of transaction fees.[2]

Ethereum provides a decentralized virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes.[3] The virtual machine's instruction set, in contrast to others like Bitcoin Script, is Turing-complete. "Gas", an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network.[3]

Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. Development was funded by an online crowdsale that took place between July and August 2014.[3] The system then went live on 30 July 2015, with 72 million coins minted.[4][5] This accounts for about 68 percent of the total circulating supply in 2019.[6][non-primary source needed]

In 2016, as a result of the exploitation of a flaw in The DAO project's smart contract software, and subsequent theft of $50 million worth of ether,[7] Ethereum was split into two separate blockchains the new separate version became Ethereum (ETH) with the theft reversed,[8] and the original continued as Ethereum Classic (ETC).[9]

Vitalik Buterin picked the name Ethereum after browsing Wikipedia articles about elements and science fiction, when he found the name, noting, "I immediately realized that I liked it better than all of the other alternatives that I had seen; I suppose it was the fact that sounded nice and it had the word 'ether', referring to the hypothetical invisible medium that permeates the universe and allows light to travel."[10]

Ethereum was initially described in a white paper by Vitalik Buterin,[11] a programmer and co-founder of Bitcoin Magazine, in late 2013 with a goal of building decentralized applications.[12][13] Buterin had argued that Bitcoin needed a scripting language for application development. Failing to gain agreement, he proposed the development of a new platform with a more general scripting language.[3]:88

Ethereum was announced at the North American Bitcoin Conference in Miami, in January 2014.[10] During the same time as the conference, a group of people rented a house in Miami: Gavin Wood, Charles Hoskinson, and Anthony Di Iorio, a Torontonian who financed the project.[10] Di Iorio invited friend Joseph Lubin, who invited reporter Morgen Peck, to bear witness.[10] Six months later the founders met again in a house in Zug, Switzerland, where Buterin told the founders that the project would proceed as a non-profit. Hoskinson left the project at that time.[10]

Ethereum has an unusually long list of founders. Anthony Di Iorio wrote "Ethereum was founded by Vitalik Buterin, Myself, Charles Hoskinson, Mihai Alisie, & Amir Chetrit (the initial 5) in December 2013. Joseph Lubin, Gavin Wood, & Jeffrey Wilke were added in early 2014 as founders." Formal development of the Ethereum software project began in early 2014 through a Swiss company, Ethereum Switzerland GmbH (EthSuisse).[14][15]The basic idea of putting executable smart contracts in the blockchain needed to be specified before the software could be implemented; this work was done by Gavin Wood, then chief technology officer, in the Ethereum Yellow Paper that specified the Ethereum Virtual Machine.[16]Subsequently, a Swiss non-profit foundation, the Ethereum Foundation (Stiftung Ethereum), was created as well. Development was funded by an online public crowdsale during JulyAugust 2014, with the participants buying the Ethereum value token (ether) with another digital currency, Bitcoin.

While there was early praise for the technical innovations of Ethereum, questions were also raised about its security and scalability.[12]

In 2019, an Ethereum foundation employee named Virgil Griffith was arrested by the US government for presenting at a blockchain conference in North Korea.[17]

In March 2017, various blockchain start-ups, research groups, and Fortune 500 companies announced the creation of the Enterprise Ethereum Alliance (EEA) with 30 founding members.[18] By May, the nonprofit organization had 116 enterprise membersincluding ConsenSys, CME Group, Cornell University's research group, Toyota Research Institute, Samsung SDS, Microsoft, Intel, J. P. Morgan, Cooley LLP, Merck KGaA, DTCC, Deloitte, Accenture, Banco Santander, BNY Mellon, ING, and National Bank of Canada.[19][20][21] By July 2017, there were over 150 members in the alliance, including recent additions MasterCard, Cisco Systems, Sberbank and Scotiabank.[22][23]

Several codenamed prototypes of the Ethereum platform were developed by the Ethereum Foundation, as part of their Proof-of-Concept series, prior to the official launch of the Frontier network. "Olympic" was the last of these prototypes, and public beta pre-release. The Olympic network provided users with a bug bounty of 25,000 ether for stress testing the limits of the Ethereum blockchain. "Frontier" marked the tentative experimental release of the Ethereum platform in July 2015.[24]

Since the initial launch, Ethereum has undergone several planned protocol upgrades, which are important changes affecting the underlying functionality and/or incentive structures of the platform.[25][non-primary source needed]

Protocol upgrades are accomplished by means of a hard fork.

The Ethereum Difficulty bomb is the difficulty of the blockchain mining algorithm puzzle which began increasing in November 2016, from block 200,000. The onset of the Difficulty Bomb is referred to as Ethereum's Ice Age, as the Ethereum network started the transition from Proof of Work (PoW) to Proof of Stake (PoS). A difficulty bomb was scheduled in February 2019 but was pushed back by developers.[26]

In 2016 a decentralized autonomous organization called The DAO, a set of smart contracts developed on the platform, raised a record US$150 million in a crowdsale to fund the project.[27] The DAO was exploited in June when US$50 million in ether were taken by an unknown hacker.[28][29] The event sparked a debate in the crypto-community about whether Ethereum should perform a contentious "hard fork" to reappropriate the affected funds.[30] As a result of the dispute, the network split in two. Ethereum (the subject of this article) continued on the forked blockchain, while Ethereum Classic continued on the original blockchain.[31] The hard fork created a rivalry between the two networks.

After the hard fork related to The DAO, Ethereum subsequently forked twice in the fourth quarter of 2016 to deal with other attacks. By the end of November 2016, Ethereum had increased its DDoS protection, de-bloated the blockchain, and thwarted further spam attacks by hackers.[unbalanced opinion?][citation needed]

As with other cryptocurrencies, the validity of each ether is provided by a blockchain, which is a continuously growing list of records, called blocks, which are linked and secured using cryptography.[32][33] By design, the blockchain is inherently resistant to modification of the data. It is an open, distributed ledger that records transactions between two parties efficiently and in a verifiable and permanent way.[34] Unlike Bitcoin, Ethereum operates using accounts and balances in a manner called state transitions. This does not rely upon unspent transaction outputs (UTXOs). The state denotes the current balances of all accounts and extra data. The state is not stored on the blockchain, it is stored in a separate Merkle Patricia tree. A cryptocurrency wallet stores the public and private "keys" or "addresses" which can be used to receive or spend ether. These can be generated through BIP 39 style mnemonics for a BIP 32 "HD Wallet". In Ethereum, this is unnecessary as it does not operate in a UTXO scheme. With the private key, it is possible to write in the blockchain, effectively making an ether transaction.

To send ether to an account, you need the Keccak-256 hash of the public key of that account. Ether accounts are pseudonymous in that they are not linked to individual persons, but rather to one or more specific addresses.

ETH Logo

Ether is a fundamental token for operation of Ethereum, which thereby provides a public distributed ledger for transactions. It is used to pay for gas, a unit of computation used in transactions and other state transitions. Mistakenly, this currency is also referred to as Ethereum.

It is listed under the ticker symbol ETH and traded on cryptocurrency exchanges, and the Greek uppercase Xi character () is generally used for its currency symbol. It is also used to pay for transaction fees and computational services on the Ethereum network.[35]

Ethereum addresses are composed of the prefix "0x", a common identifier for hexadecimal, concatenated with the rightmost 20 bytes of the Keccak-256 hash (big endian) of the ECDSA public key (the curve used is the so-called secp256k1, the same as Bitcoin). In hexadecimal, 2 digits represent a byte, meaning addresses contain 40 hexadecimal digits. An example of an Ethereum address is 0xb794f5ea0ba39494ce839613fffba74279579268. Contract addresses are in the same format, however, they are determined by sender and creation transaction nonce.[36] User accounts are indistinguishable from contract accounts given only an address for each and no blockchain data. Any valid Keccak-256 hash put into the described format is valid, even if it does not correspond to an account with a private key or a contract. This is unlike Bitcoin, which uses base58check to ensure that addresses are properly typed.

Ethereum is different from Bitcoin (the cryptocurrency with the largest market capitalization as of June 2018) in several aspects:

The total supply of ether was around 106.7 million as of 5 July 2019. In 2017, mining generated 9.2 million new ether, corresponding to a 10% increase in its total supply. Casper the Friendly Finality Gadget (FFG), which is a hybrid Proof of Work and Proof of Stake scheme, and Casper Correct-By-Construction (CBC), a separate Proof of Stake design of Casper, are expected to reduce the inflation rate to between 0.5% to 2%.[citation needed] There is no currently implemented hard cap on the total supply of ETH.[37]

Ether can be traded by regular currency brokers, cryptocurrency exchanges, as well as many online cryptocurrency wallets.[38]

The Ethereum Virtual Machine (EVM) is the runtime environment for smart contracts in Ethereum. It is a 256-bit register stack, designed to run the same code exactly as intended. It is the fundamental consensus mechanism for Ethereum. The formal definition of the EVM is specified in the Ethereum Yellow Paper.[36][39] Ethereum Virtual Machines have been implemented in C++, C#, Go, Haskell, Java, JavaScript, Python, Ruby, Rust, Elixir, Erlang, and soon, WebAssembly (currently under development).

Ethereum's smart contracts are based on different computer languages, which developers use to program their own functionalities. Smart contracts are high-level programming abstractions that are compiled down to EVM bytecode and deployed to the Ethereum blockchain for execution. They can be written in Solidity (a language library with similarities to C and JavaScript), Serpent (similar to Python, but deprecated), LLL (a low-level Lisp-like language), and Mutan (Go-based, but deprecated). There is also a research-oriented language under development called Vyper (a strongly-typed Python-derived decidable language).

Smart contracts can be public, which opens up the possibility to prove functionality, e.g. self-contained provably fair casinos.[40]

One issue related to using smart contracts on a public blockchain is that bugs, including security holes, are visible to all but cannot be fixed quickly.[41] One example of this is the 17 June 2016 attack on The DAO, which could not be quickly stopped or reversed.[28]

There is ongoing research on how to use formal verification to express and prove non-trivial properties. A Microsoft Research report noted that writing solid smart contracts can be extremely difficult in practice, using The DAO hack to illustrate this problem. The report discussed tools that Microsoft had developed for verifying contracts, and noted that a large-scale analysis of published contracts is likely to uncover widespread vulnerabilities. The report also stated that it is possible to verify the equivalence of a Solidity program and the EVM code.[42]

Ethereum apps are written in one of seven different Turing-complete languages.[43] Developers use the language to create and publish applications which they know will run inside Ethereum. The stablecoin Tether and the prediction market Augur are two examples of applications that run on Ethereum.[44][45]

Many uses have been proposed for the Ethereum platform, including ones that are impossible or unfeasible.[46][35] Use case proposals have included finance, the internet-of-things, farm-to-table produce, electricity sourcing and pricing, and sports betting. Ethereum is (as of 2017) the leading blockchain platform for initial coin offering projects, with over 50% market share.[47]

Ethereum-based customized software and networks, independent from the public Ethereum chain, are being tested by enterprise software companies.[48] Interested parties include Microsoft, IBM, JPMorgan Chase,[35] Deloitte,[49] R3,[50] Innovate UK (cross-border payments prototype).[51] Barclays, UBS and Credit Suisse are experimenting with Ethereum.

Ethereum-based permissioned blockchain variants are used and being investigated for various projects.

In Ethereum all smart contracts are stored publicly on every node of the blockchain, which has costs.[56] Being a blockchain means it issecure by design[clarification needed]and is an example of a distributed computing system with highByzantine fault tolerance. The downside is that performance issues arise in that every node is calculating all the smart contracts in real time, resulting in lower speeds.[56] As of January 2016, the Ethereum protocol could process about 25 transactions per second.[56] In comparison, the Visa payment platform processes 45,000 payments per second leading some to question the scalability of Ethereum.[57] On 19 December 2016, Ethereum exceeded one million transactions in a single day for the first time.[58]

Ethereum engineers have been working on sharding the calculations, and the next step (called Ethereum 2) was presented at Ethereum's Devcon 3 in November 2017.[59]

Ethereum's blockchain uses Merkle trees, for security reasons, to improve scalability, and to optimize transaction hashing.[60] As with any Merkle tree implementation, it allows for storage savings, set membership proofs (called "Merkle proofs"), and light client synchronization. The Ethereum network has at times faced congestion problems, for example, congestion occurred during late 2017 in relation to Cryptokitties.[61]

On social governance

Our governance is inherently social, people who are more connected in the community have more power, a kind of soft power.

Vlad Zamfir, Ethereum core developer, The New Yorker[10]

In October 2015,[62] a development governance was proposed as Ethereum Improvement Proposal, aka EIP, standardized on EIP-1.[63] The core development group and community were to gain consensus by a process regulated EIP.[citation needed]

Izabella Kaminska, the editor of FT Alphaville, pointed out in 2017 that criminals were using Ethereum to run Ponzi schemes and other forms of investment fraud.[64] The article was based on a paper from the University of Cagliari, which placed the number of Ethereum smart contracts which facilitate Ponzi schemes at nearly 10% of 1384 smart contracts examined. However, it also estimated that only 0.05% of the transactions on the network were related to such contracts.[65]

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Ethereum - Wikipedia

Bitcoin vs. Ethereum: What’s the Difference?

Bitcoin vs. Ethereum: An Overview

Ether (ETH), the cryptocurrency of the Ethereum network, is arguably the second most popular digital token after bitcoin (BTC). Indeed, as the second-largest cryptocurrency by market cap, comparisons between Ether and BTC are only natural.

Ether and bitcoin are similar in many ways: each is a digital currency traded via online exchanges and stored in various types of cryptocurrency wallets. Both of these tokens are decentralized, meaning that they are not issued or regulated by a central bank or other authority. Both make use of the distributed ledger technology known as blockchain. However, there are also many crucial distinctions between the two most popular cryptocurrencies by market cap. Below, we'll take a closer look at the similarities and differences between bitcoin and ether.

Bitcoin was launched in January of 2009. It introduced a novel idea set out in a white paper by the mysterious Satoshi Nakamotobitcoin offers the promise of an online currency that is secured without any central authority, unlike government-issued currencies. There are no physical bitcoins, only balances associated with a cryptographically secured public ledger. Although bitcoin was not the first attempts at an online currency of this type, it was the most successful in its early efforts, and it has come to be known as a predecessor in some way to virtually all cryptocurrencies which have been developed over the past decade.

Over the years, the concept of a virtual, decentralized currency has gained acceptance among regulators and government bodies. Although it isnt a formally recognized medium of payment or store of value, cryptocurrency has managed to carve out a niche for itself and continues to coexist with the financial system despite being regularly scrutinized and debated.

At the start of the cryptocurrency boom in 2017, Bitcoins market value accounted for close to 87% of the total cryptocurrency market.

Blockchain technology is being used to create applications that go beyond just enabling a digital currency. Launched in July of 2015, Ethereum is the largest and most well-established, open-ended decentralized software platform.

Ethereum enables the deployment of smart contracts and decentralized applications (dapps) to be built and run without any downtime, fraud, control or interference from a third party. Ethereum comes complete with its own programming language which runs on a blockchain, enabling developers to build and run distributed applications.

The potential applications of Ethereum are wide-ranging and are powered by its native cryptographic token, ether (commonly abbreviated as ETH). In 2014, Ethereum launched a presale for ether, which received an overwhelming response. Ether is like the fuel for running commands on the Ethereum platform and is used by developers to build and run applications on the platform.

Ether is used mainly for two purposesit is traded as a digital currency on exchanges in the same fashion as other cryptocurrencies, and it is used on the Ethereum network to run applications. According to Ethereum, people all over the world use ETH to make payments, as a store of value, or as collateral.

While both the Bitcoin and Ethereum networks are powered by the principle of distributed ledgers and cryptography, the two differ technically in many ways. For example, transactions on the Ethereum network may contain executable code, while data affixed to Bitcoin network transactions are generally only for keeping notes. Other differences include block time (an ether transaction is confirmed in seconds compared to minutes for bitcoin) and the algorithms that they run on (Ethereum uses ethash while Bitcoin uses SHA-256).

More importantly, though, the Bitcoin and Ethereum networks are different with respect to their overall aims. While bitcoin was created as an alternative to national currencies and thus aspires to be a medium of exchange and a store of value, Ethereum was intended as a platform to facilitate immutable, programmatic contracts, and applications via its own currency.

BTC and ETH are both digital currencies, but the primary purpose of ether is not to establish itself as an alternative monetary system, but rather to facilitate and monetize the operation of the Ethereum smart contract and decentralized application (dapp) platform.

Ethereum is another use-case for a blockchain that supports the Bitcoin network, and theoretically should not really compete with Bitcoin. However, the popularity of ether has pushed it into competition with all cryptocurrencies, especially from the perspective of traders. For most of its history since the mid-2015 launch, ether has been close behind bitcoin on rankings of the top cryptocurrencies by market cap. That being said, it's important to keep in mind that the ether ecosystem is much smaller than bitcoin's: as of January 2020, ether's market cap was just under $16 billion, while bitcoin's is nearly 10 times that at more than $147 billion.

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Bitcoin vs. Ethereum: What's the Difference?

Vitalik Proposes Solution to ‘Embarrassing’ Lack of BitcoinEthereum Bridge – Cointelegraph

Ethereum co-founder Vitalik Buterin posted a tweet on March 24 claiming that the continuing lack of easy movement between the Ethereum and Bitcoin networks was embarrassing.

As a solution, he proposed putting resources into building a decentralized exchange (DEX), to act as a trustless bridge between the two.

Buterins plan calls for the DEX to be trustless and serverless, with a user experience very similar to Uniswap. Uniswap is a decentralized exchange that runs without an order book, instead relying on asset pairs with Ether as a fixed base currency.

As Cointelegraph reported, Uniswap has just announced plans to release a V2 update in Q2 2020, which will allow direct token-to-token swaps.

Decentralized exchanges have struggled to gain market share against traditional exchanges, despite being more closely aligned to the overall trustless ethos of cryptocurrency. Part of the issue has been a lack of liquidity, although a dedicated BitcoinEhereum DEX supported by Buterin may well see greater uptake.

Vitalin suggested further suggested that Bitcoin was not the only potential destination for a DEX bridge from Ethereum, and other blockchain ecosystems should also be up for consideration.

Buterin specifically mentioned Zcash as one example, saying that he has already had discussions to this end with Zooko Wilcox, CEO of Zcash-creators, the Electric Coin Company. However, he admitted that they could both work harder to turn such talk into action.

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Vitalik Proposes Solution to 'Embarrassing' Lack of BitcoinEthereum Bridge - Cointelegraph

Latest Ethereum price and analysis (ETH to USD) – Yahoo Finance

Ethereum is moving into the weekend in surprisingly good shape, after rallying by more than 20% over the past 24-hours.

At the time of writing, Ethereum is trading above the $145 level of resistance after breaking out in the early hours of this morning.

An upside price target of $182 is beginning to emerge as it also coincides with the 200 EMA on the four hour chart.

Remarkably, Ethereum is now 45% up since the gruelling sell-off that ravaged the cryptocurrency markets last week.

However, it is worth noting that the stock market has also shown signs of recovery this morning, with the FTSE100 surging by 3% after falling to a nine year low.

The weekly candle close will be key for Ethereum on Sunday, with all eyes monitoring to see whether it can close in a bullish posture moving into the rest of the month.

Much of the upcoming price action will depend on the direction of Bitcoin, which is commonly considered as a market leader in terms of price discovery due to a higher level of liquidity.

Bitcoin will undergo a block reward halving in less than two months, an event that has historically been bullish for the entire cryptocurrency ecosystem, as supply from miners begins to dry up.

Altcoins, like Ethereum, typically perform well in days when Bitcoin is consolidating after a rally. This is as a result of traders taking profits on Bitcoin positions before diversifying their portfolio into more speculative assets.

For more news, guides and cryptocurrency analysis, click here.

Ethereum was launched byVitalik Buterinon July 30 2015. He was a researcher and programmer working on Bitcoin Magazine and he initially wrote a whitepaper in 2013 describing Ethereum.

Buterin had proposed that Bitcoin needed a scripting language. He decided to develop a new platform with a more general scripting language when he couldnt get buy-in to his proposal.

If you want to find out more information about Ethereum orcryptocurrenciesin general, then use the search box at the top of this page. Please check the below article:

https://coinrivet.com/ethereum-adopts-erc-1155-as-an-official-standard/

As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.

You may be interested in our range ofcryptocurrency guidesalong with the latest cryptocurrencynews.

Disclaimer: This is not financial advice.

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Latest Ethereum price and analysis (ETH to USD) - Yahoo Finance

Why Polynomial Commitments Might Be a ‘Breakthrough’ for Ethereum 2.0 – CoinDesk – CoinDesk

The Ethereum community now has a roadmap, albeit a confusing one.

Dropped Wednesday, Ethereum co-founder Vitalik Buterins state of the network map helps contextualize the next five to 10 years for a global community of 20,000 developers while highlighting a key issue for the blockchains next version: scalability.

The Eth 2.0 research team is now leaning into a new concept called polynomial commitments to reduce the data used per computation on the network, according to a March 17 blog post by researcher Danny Ryan.

Dubbed magic math by Buterin, polynomial commitments are being eyed as a way to verify the state of the network at low computational cost, a key goal of the future network.

Still, Buterins map tags his magic math for network integration not until at least the third phase in the multi-year push to Eth 2.0.

Polynomial commitments could be the major breakthrough weve been looking for, Ryan said, specifically regarding the storage of account data in the next version of Ethereum.

The Ethereum Foundation did not respond to a request for comment by press time.

Magic math

Polynomial commitments are similar to the polynomials we all came to learn and love in elementary school: a math expression with both variables and coefficients (i.e., Y=2X).

But, again, this is magic math so its not quite so simple.

Buterin describes polynomial commitments as a sort of hash of some polynomial P(x) with the property that you can perform arithmetic checks on hashes. The original paper on polynomial commitments, meanwhile, synthesizes the math scheme as six algorithms that show proof of an event occurring with as little computing data as possible.

We suggest replacing Merkle trees by magic math called polynomial commitments to accumulate blockchain state, Buterin said in the Ethereum Foundation blog post. Benefits include reducing the size of stateless client witnesses (excluding contract code and state data) to near zero.

(For the mathematically inclined, a three-part series on polynomial commitments hosted by Eth 2.0s Justin Drake can be found below.)

The blockchain state

Blockchains record both the ins and outs users create when transacting. On the whole, blockchain accounting systems come in two kinds: the Unspent Transaction Output (UTXO) model and the account-based model. Bitcoin uses the former while Ethereum uses the latter.

When a user wishes to spend bitcoin in the UTXO model, the transaction drags along with it the entire history of those coins, which is then checked by every peer on the network.

The account model, on the other hand, records only the transaction between the two peers while directing questions of the transaction's validity to the Ethereum Virtual Machine (EVM) in conjunction with a proof of the transaction. The EVM executes state changes the current accounts and balances of the blockchain on behalf of users.

Each block on Ethereum which binds transactions into just that, a block also contains a proof, a Merkle tree, which connects itself to the beginning of the networks history. This proof contains the receipt of the state referenced above and is needed for the EVM to execute a transaction.

This last part has been a sticky issue for Ethereum, however.

Why? Merkle trees are data-efficient, yet not data-efficient enough for Eth 2.0s ambitions. This is where the magic happens.

The current Merkle tree setup takes about 0.5 MB per transaction. Ryan estimates polynomial commitment schemes would reduce the weight of state proofs to between 0.001 and 0.01 MB. For a network that recently averages around 700,000 transactions per day, the savings in terms of data computation add up.

As such the idea of a stateless client has been in the works since at least October 2017 to reduce the amount of data used for ethereums big upgrade.

Multiple projects outside of Ethereum also lean on polynomial commitments in their own way, including Zcashs zero-knowledge proof, Halo.

Buterin said his implementation of polynomial commitments remains one of many. Moreover, its still in the research phase.

Although incredibly promising, some of this research and magic math is very new. We need to spend more time better understanding the complexities and tradeoffs, as well as just getting more eyes on this new and exciting technique, Ryan concluded.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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Why Polynomial Commitments Might Be a 'Breakthrough' for Ethereum 2.0 - CoinDesk - CoinDesk

AVA Labs Wants to Be Ethereum 2.0’s Testnet, and Then Some – Crypto Briefing

Headed by Cornell professorEmin Gn Sirer, AVA Labs is building a next-generation blockchain that is working to become the so-called AWS of Finance. And even in a crypto community deeply opposed to Amazon, the highly scalable technology may come out on top. And it might bring Ethereum with it.

The AVA blockchain is built using a novel consensus mechanism launched in 2018 calledAvalanche. It boasts high throughputs, malleability, and allows entrepreneurs full control of any crypto project built on top of the network.

AVA Labs Inc.is the joint venture between Sirer and co-founderKevin Sekniqibuilt on top of the AVA network. In an interview with Sekniqi, he broke down how developers, users, and entrepreneurs could manipulate the AVA blockchain to achieve a wide variety of uses.

AVA is three tiers of user control, said Sekniqi. First, theres the network layer, the middle layer, which would be the actual blockchain or virtual machine, and then theres the application layer.

Ethereum has a similar hierarchy, but it falls short of its ability to be customized at every layer, said Sekniqi. In many ways, however, the second-largest blockchain network opened the door to flexible crypto networks. And AVA wants to continue in this same vein.

By allowing developers to interact and adapt every layer of the network to their specific needs, AVA offers unparalleled customizability. These needs could range from supply chain management, tokenized bonds or gold, fundraising, and everything in between. Plus, the advanced functionality may reveal never-before-seen applications.

Once launched, the swiss army knife blockchain could overtake many specialized crypto networks. And already theyve been turning heads.

In 2019, AVA Labsraised $6 million from noted crypto investors Polychain, MetaStable, and Andreessen Horowitz. But Sekniqi said that though the million-dollar figures look large, the project only raises exactly what it needs.

The money appears well spent so far, too.

The funds we raised have been used to build out some of the core technologies, said Sekniqi. And the mainnet is just one milestone. We have a lot of activity coming out in 2020.

The primary task at the moment is to convince developers to experiment on the testnet.

To attract the largest developer community in blockchain, the team built out an Ethereum Subnet calledAthereum. A friendly fork, it brings over all the rich developer tools like Metamask, Truffle, MyEtherWallet, and others to allow them to operate within AVA comfortably.

The goal is to expose a tight-knit community to AVAs high throughputs, low finality, and the security of thousands of validators.

Were not trying to be an Ethereum competitor, by any means, said Sekniqi. Instead, we want to be a testnet for Ethereum 2.0.

The team has also opened up theircodebase, funneled communications over to a growingDiscord channel, and has been offering webinars on the AVA technology. The webinars, though small, have filled up quickly, said Sekniqi.

They have launched a Developer Accelerator Program to entice developers to comb the code for bugs and build native dApps as well.

The AVA Labs site reports bounties of up to $50,000 for any bugs found in the code.

As for the future, Sekniqi mentioned that there is a token offering on the cards, but couldnt divulge much more than that. Readers can expect a mainnet launch later this year.

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AVA Labs Wants to Be Ethereum 2.0's Testnet, and Then Some - Crypto Briefing

EOS, Ethereum and Ripples XRP Daily Tech Analysis 25/03/20 – Yahoo Finance

EOS

EOS rose by 2.24% on Tuesday. Following on from a 7.50% rally on Monday, EOS ended the day at $2.3497.

A choppy start to the day saw EOS rise from an early morning intraday low $2.2821 to a mid-morning intraday high $2.3820 before hitting reverse.

Steering well clear of the major support and resistance levels, EOS fell back to sub-$2.30 levels before making a move.

Finding support late on, EOS bounced back to $2.36 levels before easing back.

At the time of writing, EOS was down by 1.20% to $2.3214. A bearish start to the day saw EOS fall from an early morning high $2.3484 to a low $2.3128.

EOS left the major support and resistance levels untested early on.

EOS would need to move through to $2.34 levels to bring the first major resistance level at $2.3938 into play.

Support from the broader market would be needed, however, for EOS to break out from the morning high $2.3484.

Barring another extended rally, the first major resistance level at $2.3938 would likely limit any upside.

Failure to move back through to $2.34 levels could see EOS slide deeper into the red.

A fall back through the morning low $2.3128 would bring the first major support level at $2.2939 back into play.

Barring another crypto meltdown, however, EOS should steer clear of the second major support level at $2.2380.

Major Support Level: $2.2380

Major Resistance Level: $2.3938

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum rose by 1.46% on Tuesday. Following on from a 12.01% rally on Monday, Ethereum ended the day at $139.00.

A mixed start to the day saw Ethereum fall to an early morning intraday low $133.04 before making a move.

Steering clear of the first major support level at $124.80, Ethereum rallied to a late morning intraday high $144.16.

Ethereum broke through the first major resistance level at $143.60 before falling back to sub-$135 levels.

Finding support late on, however, Ethereum broke back through to $140 levels before ending the day at $139.00.

At the time of writing, Ethereum was up by 0.05% to $139.69. A mixed start to the day saw Ethereum fall to an early morning low $137.00 before striking a high $142.00.

Ethereum left the major support and resistance levels untested early on.

Story continues

Ethereum would need to move through to $140 levels to support a run at the first major resistance level at $144.43.

Support from the broader market would be needed, however, for Ethereum to break out from the morning high $142.00.

Barring a broad-based crypto rebound, resistance at $140 would likely leave Ethereum short of the first major resistance level.

Failure to move through to $140 levels could see Ethereum fall back into the red.

A fall back through to sub-$138.70 levels would bring the first major support level at $133.31 into play.

Barring an extended crypto sell-off, however, Ethereum should steer well clear of sub-$130 support levels.

Major Support Level: $133.31

Major Resistance Level: $144.43

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripples XRP rose by 2.29% on Tuesday. Following on from a 7.77% rally from Monday, Ripples XRP ended the day at $0.16290.

A choppy start to the day saw Ripples XRP slide to an early morning intraday low $0.15742 before finding support.

Steering clear of the first major support level at $0.1488, Ripples XRP rallied to a late morning intraday high $0.16400.

Falling short of the first major resistance level at $0.1661, Ripples XRP slid back to sub-$0.1590 levels.

Finding support late on, however, Ripples XRP broke back through to $0.16 levels to deliver the upside on the day.

At the time of writing, Ripples XRP was down by 0.60% to $0.16193. A mixed start to the day saw Ripples XRP fall to an early morning low $0.16075 before striking a high $0.16399.

Ripples XRP left the major support and resistance levels untested early on.

Ripples XRP will need to move through the morning high $0.16399 to support a run at the first major resistance level at $0.1655.

Support from the broader market would be needed, however, for Ripples XRP to break out from Tuesdays high $0.16400.

Barring a broad-based crypto rebound, the first major resistance level at S0.1655 would likely cap any upside.

Failure to move back through the morning high $0.16399 could see Ripples XRP fall deeper into the red.

A fall back through to sub-$0.1615 levels would bring the first major support level at $0.1589 into play.

Barring an extended crypto sell-off, however, Ripples XRP should steer clear of sub-$0.15 levels on the day.

The second major support level at $0.1549 should limit any downside on the day.

Major Support Level: $0.1589

Major Resistance Level: $0.1655

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

This article was originally posted on FX Empire

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EOS, Ethereum and Ripples XRP Daily Tech Analysis 25/03/20 - Yahoo Finance

Analyst: Ethereum Prepares for Massive 95% Move Against BTC, But Which Direction? – newsBTC

Ethereum started off 2020 as bullish as can be, outperforming BTC and other crypto assets by a large margin.

The top altcoin in the crypto market may soon make a massive 95% move against Bitcoin, according to one analyst, but the direction of that move is still up in the air, although theyre leaning heavily toward a chart pattern formation resolving to the downside.

Following the boom in the decentralized finance movement in late 2019 and early 2020, all signs pointed to Ethereum going on a powerful rally.

The altcoin kicked off the year with an over 100% rally, doubling in price and helping to lead the rest of the market toward what are now in hindsight the years highs.

Related Reading | Ethereum Sets Record for Most Bullish String of Weekly Price Action Yet

Ethereum and other altcoins not only broke out of their downtrends on their USD pairs, but they also saw a breakout against Bitcoin on BTC pairs.

The latest price action has caused Ethereum to form a massive, multi-year symmetrical triangle on the ETH//BTC trading pair, which based on the formations measure rule would have a 95% rise or drop for a target.

The triangle is currently reaching its apex, suggesting this powerful breakout is imminent. However, symmetrical triangles break up almost as often as they break downward.

The crypto analyst who spotted this massive formation and potential move believes that the latest price action suggests that the formation is more likely than not to break down.

According to the trader, Ethereum has been trading within a bear channel on the ETH/BTC pair for an extended period, indicating that down is the probable direction.

Ethereum and other large-cap altcoins often are leading indicators for the rest of the crypto market, and in particular, the altcoins space.

The number two cryptocurrency by market cap showing signs of falling against Bitcoin could signal a worse drop across the wider altcoin market.

The total altcoin market cap against BTC is also in a multi-year formation, however, this pattern looks to be more descending in nature and not symmetrical like Ethereum.

Related Reading | Altcoin Market Forms Cryptos Most Dangerous Pattern

Descending triangles in the crypto market have in the past been notably deadly. Its the same pattern that sent Bitcoin from $6,000 to $3,000, then again from $13,000 to $6,000.

Now, its appearing in the altcoin market, and it could cause the assets to be decimated by Bitcoin dominance in the days ahead.

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Analyst: Ethereum Prepares for Massive 95% Move Against BTC, But Which Direction? - newsBTC

Millions of Users Can Trade Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), XRP on Brave Browser Through New Binance Integration – The Daily Hodl

Crypto trading giant Binance and privacy-focused Brave browser have collaborated on a new integration that allows Brave users to trade cryptocurrencies through Binance.

According to the announcement,

The new Binance widget in the new tab page of the Brave desktop browser makes Brave the only browser that offers integrated functionality for buying and trading cryptocurrency. With the Binance widget, Brave users can access the Binance.com and Binance.US (for US-based users) sites, buy and sell crypto assets, view asset balances, and obtain deposit addresses all without leaving the browser.

Says Binance CEO Changpeng Zhao,

The Binance widget on Braves privacy-oriented browser instills a safer way to buy and sell crypto and also reduces user friction to onboard, trade and interact with the Binance ecosystem.

The widget will allow Brave users to buy, deposit, trade and manage leading cryptocurrencies such as Bitcoin, Ethereum, XRP, Litecoin and other altcoins supported by Binance.

The Brave browser, which combines privacy with a blockchain-based digital advertising platform, has roughly 8.7 million monthly active users across the globe.

Unlike the dominant competitor Google Chrome, which tracks you and your browsing history, Brave blocks trackers, ads and third-party cookies, making it an attractive option, particularly for cryptocurrency users who support decentralized platforms, privacy protection and networking options beyond the control of big tech.

Featured Image: Shutterstock/Fstoppers

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Millions of Users Can Trade Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), XRP on Brave Browser Through New Binance Integration - The Daily Hodl

Ethereum (ETH) Price Shows Bear Flag, Expected to Head For $100 – U.Today

News

Wed, 03/25/2020 - 19:30

Bitcoin difficulty is on track to drop by more than 16 percent, which would be the second-largest negative adjustment in its entire existence. The good news for the bulls is that it will most likely mark a local BTC price bottom.

Must Read

The coronavirus pandemic that rattled global markets didnt spare Bitcoin (BTC). After the March 12 price crash, many small miners got backed into a corner.

Bitcoins hashrate, which displays the cumulative power of the network, crashed nearly 40 percent in lockstep with the price. It is currently below 100 Ehash/s, with the halving approaching in less than two months.

That said, the mammoth-size difficulty adjustment, which is going to happen at around 11 PM EST, is going to provide much-needed relief for miners.

Must Read

The largest difficulty drop to date (18 percent) took place on Oct. 30, 2011. Back then, BTC was changing hands at just $3.12 after shedding about70 percent of its value in just three months. Since then, BTC skyrocketed by more than 630,000 percentby the end of 2017.

While such humungous gains are most certainly out of reach for an already established asset class, the 15 percent difficulty drop that took place on Dec. 3, 2018, could indicate where BTC is headed next if history is any guide. The leading coin rallied by more than 300 percent in the first half of 2019 before retracing its stellar gains.

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Ethereum (ETH) Price Shows Bear Flag, Expected to Head For $100 - U.Today

The Best and Worse that Could Happen to Ethereum, XRP, and Litecoin – Crypto Briefing

While it is unclear where the markets will ultimately go, it is ideal to gather perspective on the best and worst-case scenarios for the top three altcoins by market capEthereum, XRP, and Litecointo protect against uncertainty.

The meltdown seen across most financial markets, including the cryptocurrency industry, sent investors into a state of panic. But what about altcoins?

Over the past week, the Crypto Fear and Greed Index (CFGI) has been indicating extreme levels of fear in the cryptocurrency market.

This fundamental indicator analyzes emotion and sentiment among investors from different sources, such as volatility, social media posts, and trends.

Based on these data sets, the CFGI recently reached a value of 8 (extreme fear), which is the lowest it has been since August 2019.

The high level of commotion in the market appears to be related to the probability that most digital assets in the industry could experience a further decline. In fact, the top three altcoins by market capitalizationEthereum, XRP, and Litecoinare developing massive bearish patterns within their respective weekly charts that could be catastrophic to many portfolios.

Ethereum, for instance, seems to be forming a symmetrical triangle on its 1-week chart that suggests an 83% retracement upon the breakout point. This target is given by measuring the distance between the initial high and low of the pattern and adding it to the breakout point.

A break below the lower trendline of the symmetrical triangle could trigger a full-blown trend reversal from bullish to bearish taking ETH to $24.5 or $20.5.

Along the same lines, Ripples XRP appears to be sitting on top of white space, according to 45-year trading veteran Peter Brandt.

A spike in the selling pressure behind this cryptocurrency around the current price levels could see it plummet to $0.061, $0.031, or even $0.009.

Meanwhile, Litecoin could be creating a descending triangle in its weekly chart as a direct consequence of its price action since mid-2018. A descending trendline can be drawn around the series of lower highs while a horizontal support line connects the swing lows.

This bearish formation suggests that LTC could see its price depreciate by 90% following a weekly candlestick close below the $25.5 support level. Such a downward impulse could see Litecoin go as low as $2.5 if the pattern is validated.

This target is determined by measuring the height of the descending triangle at its thickest point and adding that distance to the breakout point.

Although most financial markets around the world have suffered from the widespread transmission of coronavirus and the disagreement sparked between OPEC and Russia, the recent downturn could represent an opportunity to be greedy when others are fearful.

Under this premise, a sudden spike in demand for Ether could see its price bounce off the lower trendline of the symmetrical triangle to the upper boundary. Around that price level, a further increase in the buying pressure behind it could see the number two crypto breakout in an upward direction off the symmetrical triangle.

The bullish momentum could trigger a stage of FOMO (fear-of-missing-out) among market participants who would likely rush to buy more ETH. If this happens, Etherum could surge over 170% upon the breakout point to reach $667.

While the upside target is well-defined for Ether, XRP is not so clear.

This is the result of the bearish trend it entered after peaking at $3.3 in January 2018. Since then, this cryptocurrency has been making a series of lower highs and lower lows that pushed it to prices not seen since May 2017.

Therefore, the best thing that could happen to XRP is to make a higher high for the first time since early 2018 that allows it to break out of the downtrend it entered after the peak.

Finally, the descending triangle that is developing on Litecoins 1-week chart can also form a reversal pattern to a downtrend. If this is the case, LTC could be bouncing off the $25.5 support level to try to break above the hypotenuse of the triangle.

Breaking above this resistance cluster could see it rise by nearly 6x to a new all-time high of $400.

It is worth noting that the different outlooks presented above could take weeks or even several months to materialize. While they all present big opportunities to profit regardless of the outcome, it would be ideal to determine what would happen to these three cryptocurrencies in the near future.

Based on its 4-hour chart, Ethereum appears to be breaking out of a symmetrical triangle. A further increase in the buying pressure behind it could validate the 40% upside target presented by this technical formation. Such a bullish impulse could soon take Ether to $168.

Like Ether, XRP also seems to be breaking out. It recently moved above its 30-four-hour exponential moving average. A continuation of the bullish momentum seen in the last few hours suggests a test of the next level of resistance.

This barrier is represented by the 100-four-hour EMA that sits around $0.18.

In the meantime, Litecoin seems to be contained within a no-trade zone defined by the Bollinger bands on its 4-hour chart. Breaking above the upper or lower band would determine where this crypto is headed next.

On the upside, LTC could surge to the 38.2% Fibonacci retracement level that sits at $47.5. However, a sudden spike in the selling pressure behind it could see it plummet to the recent low of $25.

Historically, each time the Crypto Fear and Greed Index (CFGI) senses extreme levels of fear among investors, most digital assets in the market tend to rebound and resume their respective uptrends.

In August 2019, for instance, the CFGI reached a value of 5 (extreme fear), which was followed by a 17% upswing in Bitcoins price. Now, a similar outlook could be taking place.

Indeed, this could be the opportunity that sidelined investors have been waiting for to get back into the market, according to the former Wall Street trader and VP at JP Morgan Chase Tone Vays. Vays recently pointed out that he would rather be long than short under the current market conditions.

For those that Bought the Dip under $4k, lock it down as HODL. For those that missed it, I am comfortable buying it here, said Vays.

Now, it remains to be seen whether the bearish or bullish scenarios presented above would come true.

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The Best and Worse that Could Happen to Ethereum, XRP, and Litecoin - Crypto Briefing

EOS, Ethereum and Ripples XRP Daily Tech Analysis 24/03/20 – Yahoo Finance

EOS

EOS rallied by 7.50% on Monday. Reversing a 6.31% slide from Sunday, EOS ended the day at $2.2962.

A mixed start to the day saw EOS slide to an early morning intraday low $2.0632 before making a move.

Steering clear of the first major support level at $2.0243, EOS rallied to an early afternoon intraday high $2.3550.

EOS broke through the first major resistance level at $2.3209 before sliding back to $2.20 levels.

Steering clear of sub-$2.20 levels, EOS found support to visit $2.30 levels before wrapping up the day at $2.29 levels.

The first major resistance level at $2.3209 limited the upside late in the day.

At the time of writing, EOS was up by 0.91% to $2.3170. A mixed start to the day saw EOS fall to an early morning low $2.2821 before striking a high $2.3450.

EOS left the major support and resistance levels untested early on.

EOS would need to move through the morning high $2.3450 to bring the first major resistance level at $2.4131 into play.

Support from the broader market would be needed, however, for EOS to break out from Mondays high $2.3550.

Barring another extended rally, the first major resistance level at $2.4131 would likely limit any upside.

Failure to move through the morning high $2.3450 could see EOS hit reverse.

A fall back through to sub-$2.2400 levels would bring the first major support level at $2.1213 back into play.

Barring another crypto meltdown, however, EOS should steer well clear of $2.00 support levels.

Major Support Level: $2.1213

Major Resistance Level: $2.4131

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum rallied by 12.01% on Monday. Reversing a 7.81% slide from Sunday, Ethereum ended the day at $137.0.

A mixed start to the day saw Ethereum fall to an early morning intraday low $119.20 before making a move.

Steering clear of the first major support level at $116.42, Ethereum rallied to an early afternoon intraday high $138.00.

Story continues

Ethereum broke through the first major resistance level at $132.90 before falling back to $127 levels.

Finding support late on, however, Ethereum broke back through the first major resistance level to end the day at $137.

At the time of writing, Ethereum was down by 1.14% to $135.44. A mixed start to the day saw Ethereum rise to an early morning high $138.58 before falling to a low $134.35.

Ethereum left the major support and resistance levels untested early on.

Ethereum would need to move through to $138 levels to support a run at the first major resistance level at $143.60.

Support from the broader market would be needed, however, for Ethereum to break out from the morning high $138.58.

Barring an extended crypto rally, resistance at $140 would likely leave Ethereum short of the first major resistance level.

Failure to move through to $138 levels could see Ethereum fall deeper into the red.

A fall back through to sub-$131.50 levels would bring the first major support level at $124.80 into play.

Barring an extended crypto sell-off, however, Ethereum should steer well clear of sub-$120 support levels.

Major Support Level: $124.80

Major Resistance Level: $143.60

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripples XRP rose by 7.77% on Monday. Reversing a 6.47% slide from Sunday, Ripples XRP ended the day at $0.15929.

A choppy start to the day saw Ripples XRP slide to an early morning intraday low $0.1450 before finding support.

Steering clear of the first major support level at $0.1422, Ripples XRP rallied to an early afternoon intraday high $0.16233.

Ripples XRP broke through the first major resistance level at $0.1578 before falling back to sub-$0.1540 levels.

Finding support late on, Ripples XRP broke back through the first major resistance level to wrap up the day at $0.1590 levels.

At the time of writing, Ripples XRP was down by 0.02% to $0.15926. A mixed start to the day saw Ripples XRP rise to an early morning high $0.16209 before falling to a low $0.15893.

Ripples XRP left the major support and resistance levels untested early on.

Ripples XRP will need to move through to $0.1600 levels to support a run at the first major resistance level at $0.1661.

Support from the broader market would be needed, however, for Ripples XRP to break out from Mondays high $0.16233.

Barring an extended crypto rally, the first major resistance level at S0.1661 would likely cap any upside.

Failure to move back through to $0.1600 levels could see Ripples XRP hit reverse.

A fall back through the morning low $0.15893 to sub-$0.1550 levels would bring the first major support level at $0.1488 into play.

Barring an extended crypto sell-off, however, Ripples XRP should steer clear of sub-$0.15 levels on the day.

Major Support Level: $0.1488

Major Resistance Level: $0.1661

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

This article was originally posted on FX Empire

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EOS, Ethereum and Ripples XRP Daily Tech Analysis 24/03/20 - Yahoo Finance

Top three coins price prediction: Bitcoin, Ethereum and Ripple bears aim to negate Tuesday’s losses – FXStreet

BTC/USD faces multiple strong resistance levels on the upside at $6,700-$6,750, $6,975 and $7,100. The $6,700-$6,750 stack has the SMA 5, SMA 10, 15-min and one-hour Bollinger Bands, one-day Fibonacci 38.2% retracement level, 15-min Previous High and 4-hour Previous Low. $6,975 has the Previous Week high and one-day Pivot Point resistance-one, while $7,100 has the one-month Pivot Point support-two.

On the downside, there is only one healthy support level at $6,350, which has the SMA 5, SMA 100 and 4-hour Bollinger Band.

ETH/USD doesnt have any strong resistance level on the upside. On the downside, there is only one support level of note at $133.50, which has the SMA 5, SMA 50, SMA 200, one-day Pivot Point support-one, one-day Previous Low and one-week Fibonacci 38.2% retracement level.

XRP/USD has no healthy support levels on the downside. However, on the upside, it has one resistance level of note at $0.177, which has the Previous Week high and Previous Year low.

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Top three coins price prediction: Bitcoin, Ethereum and Ripple bears aim to negate Tuesday's losses - FXStreet

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: A sea of red returns as weekend love disappears – FXStreet

The worlds no. 1 digital coin, Bitcoin, has caught a fresh bid-wave and surrendered the 6k barrier yet again, as we head towards the weekly closing. Ethereum and Ripple also yielded into the broad crypto sell-off this Sunday, with the former emerging as the main laggard amongst the top 3 most dominantly traded digital assets. The total market capitalization of the top 20 cryptocurrencies now stands at $170.05 billion, as cited by CoinMarketCap.

The top three coins could likely resume Fridays decline, with the FXStreets Confluence Detector tool suggesting key technical levels to watch out, as we step into a fresh week ahead.

With the sellers back in action, Bitcoinis likely to face the immediate resistance at 6191, the midline of Bollinger Band on 4-hour chart. Further north, 6255, the confluence of Fib 61.8% 1D and SMA5 4h, is likely to challenge the recovery attempts.

The coin will accelerate its recovery momentum once the above resistance is cleared, as the buyers will target Fib 23.6% 1W aligned at 6383.

Having said that, to the downside, the immediate support is now seen at 5871, the confluence of SMA5 1D and Previous Low 1 Day.

A failure to resist the latter will expose the strong support at 5743, Pivot Point 1 Month S3.

Having reversed sharply, Ethereumhas breached the Fib 23.6% 1D support located at 129.0, with the downside now opening up towards Fridays low of 115.80 amid a lack of significant support levels to cap the declines.

The recovery attempts will continue to face stiff resistance near the 134 area, where the SMA5 1H, Fib 61.8% 1D, Fib 38.2% 1W and SMA5 4H intersect.

Therefore, sell the bounce could emerge as the ideal theme for trading ETH/USD in the coming days, as explained here.

Ripplerespected the rising channel breakdown and reached the pattern target at 0.1523, with the further downside still in play, in absence of strong support levels. The 0.1500 psychological level could be tested en-route the next barrier seen at 0.1469, Fib 61.8% 1W.

The coin will target the Pivot Point 1 Month S2 at 0.1452 should the bulls succumb to the bearish pressure.

Alternatively, the bulls will have to chew the offers at 0.1582 in order to re-attempt the 0.16 handle. Any substantial recovery will regain traction only on a daily closing above the latter.

See all thecryptocurrency technical levels.

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Top 3 Price Prediction Bitcoin, Ethereum, Ripple: A sea of red returns as weekend love disappears - FXStreet

Ethereum Price Analysis: ETH/USD may retreat to $134.00 before another leg higher – FXStreet

ETH/USD jumped as high as $152.50 on Friday before retreating to $148.00. The second-largest digital asset has gained over 8% since the beginning of the day and nearly 23% on a day-to-day basis, moving in sync with the market. The bullish sentiments helped the coin to settle above the upper line of 1-hour Bollinger Band, however, the further upside may be limited at this stage, as the asset is deeply overbought at least on the intraday charts.

One-hour RSI is ready to reverse to the South. which means that the downside correction may be extended if the price fails to stay above $146.00. The next support comes at $134.00. This area has been limiting the sell-off since March 19. Once it is out of the way, the downside momentum is likely to gain traction with the next focus on a $125.50 support area reinforced by SMA50 and SMA200 on a 1-hour chart.

On the upside, the critical psychological barrier is located at $150.00. If it is sustainably broken, the upside may gain traction and bring the price towards the intraday high of $152.50. This area may slow down the recovery towards the critical long-term resistance created by SMA200 daily on approach to $177.50.

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Ethereum Price Analysis: ETH/USD may retreat to $134.00 before another leg higher - FXStreet

Ethereum Roadmap 2020 Explained – The Daily Hodl

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Ethereums blockchain was proposed in 2013, and by 2015, the system went live. This is a decentralized blockchain that allows developers to build smart contracts and decentralized applications (DApps) upon it. Ethereum also has a native asset, Ether (ETH), which is the second-largest cryptocurrency based on market capitalization.

On the other hand, the Ethereum roadmap 2020 shows that this blockchain is currently in its last phase of development. This phase is called Serenity, and it will lead to the launch of a new Etheruem blockchain, Ethereum 2.0. The latter will be revamped with several features including proof of stake (PoS), sharding, a new Ethereum Virtual Machine (EVM), new rewards mechanism, etc.

Serenity Roadmap

The Serenity stage is aimed at making the Ethereum blockchain faster, scalable, and better. Blockchain software technology firm ConsenSys claims Serenity is the eventual and final iteration in Ethereums evolution, and it will be guided by five design principles. These principles are simplicity, resilience, longevity, security, and decentralization.

Accordingly, the Serenity roadmap shows a list of planned major network upgrades for the Ethereum ecosystem. These are:

Lets take a look at each of these.

Phase 0: Beacon Chain

In Serenity Phase 0, a new blockchain or beacon chain that differs from the main Ethereum blockchain will be created. The blockchain will offer simplicity and as such, support will not be provided for smart contracts, initially. However, the beacon chain will feature the proof-of-stake (PoS) consensus mechanism. It will also run alongside the current proof-of-work (PoW) Ethereum blockchain to prevent a break in the continuity of the chains.

Accordingly, the major difference lies in the fact that Ethereum 2.0 will use the PoS consensus algorithm (Casper) instead of the PoW consensus mechanism (Ethash). With PoS, the blockchain tracks a set of validators that take turns to propose and vote for the next valid block. Also, those who own ETH can become validators just by sending a certain amount of their funds to be locked up in deposit or staked.

On the other hand, PoS fosters honesty among validators on the Ethereum blockchain. This is because validators (node holders) earn rewards (depending on how much they had staked) each time a block is accepted by the majority. In contrast, they can lose their funds if the majority rejects the block they had staked on.

ETH2, a new Ethereum native asset, will also be created on the beacon chain and used to reward validators. Whats more, this phase requires that two-thirds of validators must deposit 32 ETH on the next block. Generally, the three main responsibilities of the beacon chain are:

Phase 1: Shard Chains

In 2019, Vitalik Buterin, Ethereums co-founder, noted that scalability is a set back to Ethereums adoption. According to Buterin, higher scalability would greatly reduce the cost of using the Ethereum blockchain.

Sharding, on the other hand, deals with parallel transactions, storing, and processing of information. Hence, it can potentially improve the scalability of the new Ethereum blockchain. Whats more, sharding involves increasing the number of transactions that can be processed by the network at a time. In this case, the network will be divided across multiple shards.

Consequently, several transactions will be processed at the same time. On the other hand, there will be 64 shard chains in the first phase of beacon chain, and more may be added over time.

Phase 2: eWASM

Smart contracts execute transactions before they are traceable on the blockchain. In line with that, the Ethereum Virtual Machine (EVM) enables smart contracts to execute transactions. However, to eliminate the problem of the current EVM, which executes transactions sequentially, Ethereum-flavored WebAssembly (eWASM) will be used.

eWASM is believed to offer improved performance over EVM. It will enable the support of smart contracts, accounts, and states on the new blockchain. Smart contracts will also be written in different languages other than Solidity. eWASM is set to launch in 2021 even though development has already begun.

Phase 3: Continued Improvement (launch date, in 2022)

Ethereum 2.0 may have been launched, but like any other system, there will always be a need for updates and fixes. The continued improvement stage has been solely designed to handle general and continuous improvement of the protocol in a bid to meet the growing demands of the new blockchain.

According to ConsenSys, the following will be implemented:

Conclusion

The Ethereum blockchain has been relied upon by investors to transact, and developers to build their applications. However, Ethereum 2.0 will bring something different to the table from the use of a PoS consensus algorithm to scalability and finally, smart contract integration. Therefore, it makes the Ethereum ecosystem a more promising one.

Featured Image: Shutterstock/Titima Ongkantong

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Ethereum Roadmap 2020 Explained - The Daily Hodl

EOS, Ethereum and Ripples XRP Daily Tech Analysis 21/03/20 – Yahoo Finance

EOS

EOS slid by 7.51% on Friday. Partially reversing a 13.71% rally from Thursday, EOS ended the day at $2.2047.

A bullish start to the day saw EOS rally to a late morning intraday high $2.5258 before hitting reverse.

EOS broke through the first major resistance level at $2.4650 before tumbling to a late intraday low $1.8900.

The reversal saw EOS fall through the first major support level at $2.0397 before finding late support.

At the time of writing, EOS was down by 0.75% to $2.1882. A mixed start to the day saw EOS rise to an early morning high $2.2904 before falling to a low $2.1626.

EOS left the major support and resistance levels untested early on.

EOS would need to move through to $2.2070 levels to bring the first major resistance level at $2.5237 into play.

Support from the broader market would be needed, however, for EOS to break out from the morning high $2.2904.

Barring another extended rally, resistance at $2.40 levels would likely leave EOS short the first major resistance level at $2.5237.

Failure to move through to $2.2070 levels could see EOS fall deeper into the red.

A fall back through to sub-$2.20 levels would bring the first major support level at $1.8879 into play.

Barring another crypto meltdown, however, EOS should steer well clear of $1.8 support levels.

Major Support Level: $1.8879

Major Resistance Level: $2.5237

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum fell by 2.47% on Friday. Partially reversing a 15.25% rally from Thursday, Ethereum ended the day at $133.27

A bullish start to the day saw Ethereum rally to a late morning intraday high $154.00 before hitting reverse.

Ethereum broke through the first major resistance level at $148.84 before sliding to a late intraday low $115.51.

Ethereum fell through the first major support level at $120.12 before rebounding to $133 levels.

At the time of writing, Ethereum was down by 1.88% to $130.76. A mixed start to the day saw Ethereum rise to an early morning high $137.62 before falling to a low $127.81.

Ethereum left the major support and resistance levels untested early on.

Ethereum would need to move through to $134 levels to support a run at the first major resistance level at $153.01.

Story continues

Support from the broader market would be needed, however, for Ethereum to break back through to $150 levels.

Barring a broad-based rebound, resistance at $140 would likely leave Ethereum short of the first major resistance level.

Failure to move through to $134 levels could see Ethereum struggle throughout the day.

A fall back through to sub-$125 levels would bring the first major support level at $114.52 into play.

Barring an extended crypto sell-off, however, Ethereum should steer well clear of sub-$100 support levels.

Major Support Level: $114.52

Major Resistance Level: $153.01

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripples XRP slid by 4.89% on Friday. Partially reversing an 11.40% rally from Thursday, Ripples XRP ended the day at $0.15685.

A bullish start to the day saw Ripples XRP rally to a late morning intraday high $0.1753 before succumbing market forces.

Falling short of the first major support level at $0.1773, Ripples XRP slid to a late morning intraday low $0.14466.

Finding support at the first major support level at $0.14488, Ripples XRP recovered to $0.15 levels to limit the loss on the day.

At the time of writing, Ripples XRP was down by 0.84% to $0.15553. A mixed start to the day saw Ripples XRP rise to an early morning high $0.16172 before falling to a low $0.15397.

Ripples XRP left the major support and resistance levels untested early on.

Ripples XRP will need to move back through to $0.1590 levels to support a run at the first major resistance level at $0.1732.

Support from the broader market would be needed, however, for Ripples XRP to break out from the morning high $0.16172.

Barring a broad-based crypto rebound, resistance at $0.16 would likely leave Ripples XRP short of the first major resistance level at S0.1732.

Failure to move back through to $0.1590 levels could see Ripples XRP fall deeper into the red.

A fall back through to sub-$0.1540 levels would bring the first major support level at $0.1426 into play.

Barring an extended crypto sell-off, however, Ripples XRP should steer clear of sub-$0.14 levels on the day.

Major Support Level: $0.1426

Major Resistance Level: $0.1732

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

This article was originally posted on FX Empire

More:

EOS, Ethereum and Ripples XRP Daily Tech Analysis 21/03/20 - Yahoo Finance

Bitcoin and Ethereum Price Analysis: Crucial Resistance Level Rejected – CoinCodex

Key highlights:

*Price at the time of writing

Bitcoin has been outperforming the traditional stock market for the past week now and has remained relatively strong within the context of the crypto market as it has gainedsome market dominance as well. The digital asset is currently trading above $6,000 but below $7,000, as it has been unable to break above this level.

The daily chart remains in an uptrend and the last higher low was set at $5,688, which means the bulls still have a lot of space to work with. Bitcoin has experienced several positive signs in the past few days like the MACD turning bullish for the first time in more than a month and the change in daily and 4-hour trends.

Buy/Sell Bitcoin (BTC)

How to buy Bitcoin (BTC) on Binance?

Like we pointed out in our last BTC analysis,the bulls were facing a lot of resistance between the $6,900 and $7,042 area. The bears have now proven that this is in fact a heavy resistance area, as the price of Bitcoin was rejected yet again from $6,957. This has basically created a double top formation,although the current candlestick hasnt closed yet.

The bears have seen significant continuation after the rejection at $6,957 as the value of Bitcoin declined by 7% in less than 4 hours. The 4-hour uptrend is not lost yet and the bulls could still turn the bearish momentum around. The MACD is on the verge of a bearish cross but maintains the daily bullish cross. The daily RSI remains pretty low at 45 points and the bulls are looking for support at the $6,327 area, the 12-period EMA.

Ethereumhas been weaker than Bitcoin and the bulls have been unable to break and close above the daily 12-period EMA. They have been rejected 3 times now, but were still able to see a bullish MACD cross two days ago.

It seems that Ethereum is forming a daily ascending wedge that is not fully confirmed yet. The trading volume has also significantly declined over the past week.Similarly, the volatility of ETH has also declined in the past two days, which could indicate a bigger move is coming soon. Additionally, it seems that the active addresses of Ethereum have jumped to a 9-month high after the overall market crash back in March 12.

Buy/Sell Ethereum (ETH)

How to buy Ethereum (ETH) on Binance?

Ethereum is most likely going to follow the steps of Bitcoin, which has currently set a double top on the daily chart. Ethereum hasnt been able to close above the daily 12-period EMA even though the MACD has turned bullish. The bulls are still in control as ETH is still in a daily uptrend but it seems to have formed a lower high compared to $152.55.

The most likely scenario for Ethereum now seems to be a daily equilibrium pattern if the bulls can hold the support at $119.5. An equilibrium pattern doesnt favor anyone and its not necessarily bearish, but its certainly not what the bulls wanted. The coronavirus outbreak situation is not improving just yet and the crypto market, although it's performing better now, could still suffer further downside action as a result.

The daily RSI is still pretty low at 40 points but the bears are looking to shift the momentum back in their favor, especially if ETH cannot break above the daily 12-period EMA soon.

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Bitcoin and Ethereum Price Analysis: Crucial Resistance Level Rejected - CoinCodex

Ethereum-based MakerDAO hands off power to community – Decrypt

The Maker Foundation, a body charged with getting the MakerDAO network up and running, today announced that it has relinquished all control of its governance token, MKR, to the governance community. That means that MKR holders are the only ones who can vote on the fate of the network.

Todays announcement marks the completion of the Maker Foundations three-month odyssey toward complete decentralization of its governance system. The Maker Foundation started dispersing the tokens to the community on December 20, 2019.

MKR holders now have complete control over a special smart contract that lets the governance community vote on the minting and destruction of MKR, as well as future permission changes to the MKR contract.

For instance, earlier this month, MKR holders voted in favor of a debt auction to stabilize the value of its decentralized stablecoin, DAI, whose peg to the US dollar is backed by cryptocurrencieswhich crashed along with global markets amid panic caused by the coronavirus pandemic.

By completing its commitment to transfer the MKR token contract to MKR holders, the Maker Foundation continues to move toward a completely self-sustaining MakerDAO, said Rune Christensen, CEO of the Maker Foundation.

And its just the beginning. We will continue to ready the community for complete decentralization in the weeks and months ahead, he added.

To achieve effective governance, the community must vote smartlyand vote oftensays the announcement. Without enough community passion and well-intentioned participation, a community-governed system can become vulnerable and struggle to succeed, it reads.

California-based MakerDAO is best known for producing Dai, a dollar-pegged stablecoin. Unlike conventional stablecoins, which are backed by fiat reserves, Dai is backed by Ether and Brave Attention Tokenthe native currency of the crypto browser, Brave. As of last week, Dai can also be backed by USDC, a stablecoin with fiat reserves maintained by less-than-decentralized companies Circle and Coinbase.

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Ethereum-based MakerDAO hands off power to community - Decrypt

Ethereum Rallies 10% and Primed To Continue Higher Towards $150 – newsBTC

Ethereum is up around 10% and it traded above the key $130 resistance against the US Dollar. ETH price is likely to continue higher towards the $150 resistance if it clears $140.

After testing the $120 support, Ethereum started a fresh increase against the US Dollar. ETH price remained well bid above the $120 level, resulting in an upside break above $122 and $125.

The bulls were able to lead the price above the key $130 resistance and the 100 hourly simple moving average. Moreover, there was a break above a major bearish trend line with resistance near $126 on the hourly chart of ETH/USD.

Ethereum Price

The pair is now trading nicely above the $135 resistance, but it is facing another major resistance near the $138 and $140 levels. The recent swing high was formed near $138 before the price declined below the 23.6% Fib retracement level of the upward move from the $119 swing low to $138 high.

However, Ethereum remained well bid above the $128 level. The 50% Fib retracement level of the upward move from the $119 swing low to $138 high is also acting as a strong support.

On the upside, the bulls need to gain pace above the $138 and $140 resistance levels. If they succeed, there are high chances of more gains towards the $150 resistance in the near term.

On the downside, Ethereum is likely to remain well bid near the $128 level. The 100 hourly simple moving average is also positioned near the $128 level to provide support.

If there is a downside break below the 100 hourly SMA, it could change the current bias. In the stated case, the next major support is visible near the $120 level. Any further losses may perhaps spark an extended decline towards the $105 and $100 support levels in the near term.

Technical Indicators

Hourly MACD The MACD for ETH/USD is slowly losing momentum in the bullish zone.

Hourly RSI The RSI for ETH/USD is currently correcting lower from the 65 level.

Major Support Level $128

Major Resistance Level $140

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Ethereum Rallies 10% and Primed To Continue Higher Towards $150 - newsBTC


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