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Is This Why Bitcoin, Ethereum, Litecoin, And Ripples XRP Suddenly Rocketed Over Thanksgiving? – Forbes

Bitcoin, ethereum, litecoin, Ripple's XRP, and bitcoin cash, the top five cryptocurrencies by value (excluding stablecoin tether), leaped over the U.S. Thanksgiving holiday weekend.

The bitcoin price climbed from under $7,000 per bitcoin to almost $8,000 in just two days, with ethereum, litecoin, Ripple's XRP, and bitcoin cash all making similar gains (despite some worrying news from elsewhere in Europe).

The reason for the sudden rally was not immediately clear, however, reports that banks in Germany will be able to sell and store bitcoin and other cryptocurrencies from next year might be behind the latest uptick.

The bitcoin price has struggled to find stable ground over recent months, with bitcoin, ethereum, ... [+] litecoin, Ripple's XRP, and bitcoin cash all bouncing around wildly.

From 2020, German banks can support the sale and custody of bitcoin and other cryptocurrencies, local business newspaper Handelsblatt reported.

Germany's Federal Council passed the law at the end of last week, with the new regulation expected to come into force on January 1 2020.

Today, German banks are not allowed to sell bitcoin and cryptocurrencies and the bill would overhaul the status quo.

The news was welcomed by the local bitcoin and crypto industry, as well as the banking association BdB, which said the new regulation makes it possible for investors to invest in crypto-values via domestic rather than foreign funds, could help prevent money laundering and terrorist financing, and allow "experienced" credit institutions to protect investors.

"Germany is well on its way to becoming a crypto-heaven," Sven Hildebrandt, head of the blockchain and crypto consulting firm DLC, told the newspaper in comments translated through Google. "The German legislator is playing a pioneering role in the regulation of crypto-truths."

Bitcoin's epic 2017 bull run, which saw the bitcoin price surge from under $1,000 per bitcoin at the beginning of the year to almost $20,000 in under 12 months, was largely due to expectations the traditional financial industry was about to wade into crypto.

When banks and financial institutions failed to buy into bitcoin as much as some had hoped the price fell sharply throughout 2018.

Over the last year, institutional money has gradually flowed into bitcoin and cryptocurrency, however, with the price being bolstered this year by interest in bitcoin and crypto from the world's biggest technology companies.

The bitcoin price rallied hard towards the end of last week but has since fallen back somewhat, ... [+] dragging on ethereum, Ripple's XRP, litecoin, and bitcoin cash.

Elsewhere, the bitcoin and cryptocurrency market may have been further boosted by reports Twitter and Square chief executive Jack Dorsey, known to be an advocate of bitcoin, revealed he plans to spend time in Africa next year, where it's thought he will work on some bitcoin-related projects.

Dorsey expects Africa to "define" the future, especially when it comes to bitcoin.

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Is This Why Bitcoin, Ethereum, Litecoin, And Ripples XRP Suddenly Rocketed Over Thanksgiving? - Forbes

China’s Internet Firewall Has Blocked Access to Ethereum Block Explorer Etherscan.io – CoinDesk

"This is another instance of friction between the decentralized and immutable technology of blockchain and the tightly controlled, centralized government of China," said Matthew Graham, CEO of blockchain investment firm Sino Global Capital. "We should expect additional problems like these in the future as blockchain is integrated further into the Chinese economy and daily life."

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China's Internet Firewall Has Blocked Access to Ethereum Block Explorer Etherscan.io - CoinDesk

Ethereum developer Virgil Griffith accused of helping North Korea evade sanctions – TechCrunch

On Friday, the United States Attorney's Office for the Southern District of New York announced that Ethereum Foundation staff member Virgil Griffith was arrested. He faces charges of conspiracy following a trip to North Korea and a presentation at the Pyongyang Blockchain and Cryptocurrency Conference.

In particular, he allegedly provided services to the Democratic Peoples Republic of Korea (DPRK, also known as North Korea) without obtaining approval from the U.S. Treasury Departments Office of Foreign Asset Control.

According to the complaint, Griffith reached out to the U.S. State Department but his permission was denied due to economic sanctions against North Korea. Griffith traveled to China and then North Korea anyway. The complaint also says that Griffith discussed cryptocurrency technologies to evade sanctions and launder money.

A special agent for the FBI interviewed Griffith back in May 2019. It was a consensual interview and he talked about his presentation titled Blockchain and Peace with the agent. He showed photos of his trip and said he would like to attend the same conference next year.

Griffith discussed his presentation with another individual via a messaging app. Individual-1 asked, in sum and substance, what interest North Koreans had in cryptocurrency. Griffith replied, in sum and substance, probably avoiding sanctions who knows, the complaint says.

Vitalik Buterin, the creator of Ethereum, wrote multiple tweets about Griffiths arrest. I don't think what Virgil did gave DRPK any kind of real help in doing anything bad. He *delivered a presentation based on publicly available info about open-source software*. There was no weird hackery advanced tutoring, he wrote.

He also says that the Ethereum Foundation has nothing to do with Griffiths trip to North Korea. EF paid nothing and offered no assistance; it was Virgil's personal trip that many counseled against, Buterin wrote.

Earlier today, a judge ruled that there is enough evidence to move forward with a trial. Griffith will be released from jail pending trial.

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Ethereum developer Virgil Griffith accused of helping North Korea evade sanctions - TechCrunch

Ethereum Price Index Real-time Ethereum (ETH) Price Charts

Price$024 Hour % Changen/a%Market Cap$0Supply0

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Ethereum is a software system which is part of a decentralised system meaning it is not controlled by any single entity. Ethereum is different to Bitcoin because it expands on its technologies to create a completely new network including an internet browser, coding language and payment system "in short, Ethereum is a public, open-source, Blockchain based distributed software platform that allows developers to build and deploy decentralised applications". The platforms currency is called Ether. The platform was founded in 2014 by Vitalik Buterin and a team of other developers. The currency is just one aspect/component of Ethereum yet can be mined by individuals more easily than Bitcoin.

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Ethereum Price Index Real-time Ethereum (ETH) Price Charts

Ethereum and Stellars Lumen Daily Tech Analysis 03/12/19 – Yahoo Finance

Ethereum

Ethereum fell by 1.31% on Monday. Following on from a 0.42% decline on Sunday, Ethereum ended the day at $148.97.

Another bearish start to the day saw Ethereum slide from an early morning intraday high $151.65 to a mid-morning intraday low $146.82.

Steering clear of the major resistance levels, Ethereum fell through the first major support level at $147.07.

Finding support in the late morning, Ethereum briefly recovered to $150 levels before sliding back through the first major support level.

Off the back of a late afternoon low $146.91, Ethereum recovered to $149 levels before wrapping up the day at $148 levels.

Whilst closing out the day in the red, a move back through the first major support level was key.

The extended bearish trend, formed at late April 2018s swing hi $828.97, remained firmly intact. A reversal from Junes current year high $364.49 back through the 23.6% FIB of $257 reaffirmed the extended bearish trend.

At the time of writing, Ethereum was down by 0.01% to $148.96. A mixed start to the day saw Ethereum rise to an early morning high $150.0 before falling to a low $148.7.

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

Ethereum would need to move back through to $149.2 levels to support a run at the first major resistance level at $151.47.

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

Barring a broad-based crypto rally on the day, the first major resistance level and Monday high $151.65 would likely limit any upside.

Failure to move through to $149.20 levels could see Ethereum spend a 4th consecutive day in the red.

A fall through to $148.5 levels would bring the first major support level at $146.64 into play before any recovery.

Barring a crypto meltdown, however, Ethereum should steer clear of sub-$145 levels on the day.

Major Support Level: $146.64

Major Resistance Level: $151.47

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Stellars Lumen slid by 2.64% on Monday. Reversing a 0.84% gain from Sunday, Stellars Lumen ended the day at $0.056228.

Tracking the broader market, Stellars Lumen slid from an early morning intraday high $0.05775 to a late morning low $0.056067.

Steering clear of the major resistance levels, Stellars Lumen fell through the first major support level at $0.0564.

Finding support in the late morning, Stellars Lumen recovered to $0.0572 levels before hitting reverse for a 2nd time.

The reversal saw Stellars Lumen slide to a late intraday low $0.05600. Stellars Lumen fell back through the first major support level at $0.05640.

Whilst finding support in the final hour to move back through to $0.05620 levels, Stellars Lumen failed to break back through the first major resistance level.

The extended bearish trend remained firmly intact, reaffirmed by 24th Septembers new swing lo $0.051614. Stellars Lumen continued to fall short of the 23.6% FIB of $0.1310 following a pullback from $0.13 levels in late June.

At the time of writing, Stellars Lumen was down by 0.34% to $0.056036. At the start of the day, Stellars Lumen fell from an end of Monday $0.056228 to an early morning low $0.056036.

Story continues

Stellars Lumen left the major support and resistance levels untested early on.

Stellars Lumen would need to move through to $0.0567 levels to support a run at the first major resistance level at $0.0573.

Support from the broader market would be needed, however, for Stellars Lumen to break through to $0.057 levels.

Barring a broad-based crypto rally, the first major resistance level would likely limit any upside on the day.

In the event of a breakout, the second major resistance level at $0.0584 would likely come into play.

Failure to move through to $0.0567 levels could see Stellars Lumen struggle throughout the day.

A fall back to sub-$0.056 levels would bring the first major support level at $0.0556 into play before any recovery.

Barring an extended sell-off, however, Stellars Lumen should steer clear of sub-$0.055 levels.

The second major support level at $0.0550 would likely limit any downside on the day.

Major Support Level: $0.05560

Major Resistance Level: $0.05730

23.6% FIB Retracement Level: $0.1114

38% FIB Retracement Level: $0.1484

62% FIB Retracement Level: $0.2082

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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Ethereum and Stellars Lumen Daily Tech Analysis 03/12/19 - Yahoo Finance

Ethereum Devs Decide to Increase Inflation, Delay Difficulty Bomb – Bitcoinist

Ethereum developers have agreed to postpone the difficulty bomb, thus increasing inflation when most coins are trying to reduce it.

The recent debate regarding Ethereums difficulty bomb is finally finished, with a rough consensus being reached. According to developers, the difficulty bomb will see yet another delay.

The details regarding what was said are a bit more difficult to acquire, as the public call between the developers experienced a number of technical issues. However, PegaSys Tim Beiko confirmed that the developers agreed to push the difficulty bomb by another 4 million blocks.

According to estimates, the issue of difficulty bomb will next emerge in about 700 days, meaning in about two years. In other words, the bomb will kick in once again in 2021/2022. On the other hand, the PoS Beacon Chain will go through significantly earlier, likely in spring 2020.

Meanwhile, the inflation will grow by 2,000 ETH per day by the time the fork occurs. At the moment, the number of ETH per day sits at around 11,600, meaning that it is expected to grow back to 13,600, which is about the same number that miners were seeing before the bomb kicked in.

One thing to note is that developers did all of the decision making among themselves, without the participation of Ethereums community. One of the decisions included the proposed name of the fork, Melting Glacier. However, the name was eventually changed to Mountain Glacier.

The new name still holds the same message of melting the ice age, which is what the difficulty bomb is also known as. In other words, the increased difficulty of mining would take more energy, making it less profitable and harmful to the environment.

However, once the PoS algorithm kicks in, it will remove the need for miners, while Ethereum itself would become much more environmentally friendly. Unfortunately, Ethereums founder, Vitalik Buterin, believes that PoS is still far away and that reaching it will likely take years.

Instead, the developers will introduce a hybrid of PoS and PoW, although the two types wont be in direct contact with one another. The issue is undoubtedly very complex, and solving it is far from being a simple matter. Furthermore, the delay of difficulty bomb likely wont have a good impact on the efforts to solve it, either.

For now, the developers agreed to hold an urgent hard fork soon after the new Istanbul update, and the fork will take place in only a few days, on December 7th, on block 9,069,000. This is allegedly going to be the last hard fork that Ethereum 1.0 will ever experience, as it will open the way to Serenity, and eventually, Ethereum 2.0.

However, before the transition to Ethereum 2.0, the network will see a number of changes. This will include the activation of Casper, the alleged switch to PoS, the update to Ethereum virtual machine, as well as the change of cross-contact logic and protocol economics. On top of all that, in June 2020, Ethereums network is expected to get yet another update called Berlin, which will be the next step towards Ethereum 2.0.

What do you think about the developers decision? Let us know your thoughts on the matter down in the comments.

Image via Shutterstock, Twitter @TimBeiko

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Ethereum Devs Decide to Increase Inflation, Delay Difficulty Bomb - Bitcoinist

Thieves took $49 million in Ethereum from a crypto exchange – Engadget

The exchange encouraged community members to block deposits from the offending wallet, but didn't have leads to identify the owner. There's a wide range of potential candidates. It could be typical online criminal organizations, an inside job, or nation states hoping to pad their funds when sanctions leave them cash-strapped.

This isn't the largest crypto theft to date. Coincheck lost $400 million in NEM tokens to a hack at the start of 2018, for instance. However, it's still doing significant damage. It also suggests that exchanges may need to do more to lock down transfers to prevent large-scale theft like this.

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Thieves took $49 million in Ethereum from a crypto exchange - Engadget

First Cheeze Wizards Tournament Winner Takes Home $104K in Ethereum (ETH) – SludgeFeed

Dapper Labs new experimental title,Cheeze Wizards, has concluded its first tournament with the winner receiving 700.6 Ethereum (ETH), worth roughly $104,000.

According to the announcement, Wizard #4845, owned by B1ackKett1e, rose to the top of the pool of 6,107 Wizards to take home the Big Cheese, the tournaments grand prize.

Unsurprisingly, the TK party, the group with Wizard #4845, had the most Wizard power by the end of the tournament, earning both the Party Prize and the Last Kitty Standing Prize for a total of 87.5 ETH divided among the 53 members.

Notably, the tournaments contract paid $102K worth of the prize money directly to the winners wallet for $0.0038 in fees, showing the potential of blockchain and esports, with quick and inexpensive payouts to tournament winners.

You can visit this link to watch the final duel that decided the tournaments winner.

Disclaimer: This articles author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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First Cheeze Wizards Tournament Winner Takes Home $104K in Ethereum (ETH) - SludgeFeed

Ethereum (ETH) 2.0 Upgrade May Revive Staking in 2020 – Bitcoinist

Ethereum (ETH) may bring another round of staking enthusiasm if it moves forward to further replace mining in 2020.

Staking coins may come in fashion again, as passive income and slow growth replace previous highly speculative uses. Staking is nothing new in the crypto space, but this time around, there is better infrastructure and more reliable projects.

The 2020 prediction comes from Alex Kruger and takes into account the staking success of Tezos (XTZ) so far.

The Tezos project offers reliable governance in the process of baking, and additionally, the custodial services of Coinbase offer a more reliable source of passive XTZ.

Instead of a vast array of staking coins, as in the past, passive income practice may be attracted to the most liquid altcoins, which manage to keep relatively stable prices.

ETH 2.0, the promised staking mechanism, will extend the culture of storing ETH coins. Currently, passive income for ETH is possible for schemes such as Maker, Compound, as well as exchange-based returns programs offered by Binance.

As ETH remains relatively stable, the coins new utility is as a source of passive income. However, staking also means at least some selling pressure as the rewards are monetized.

For Ethereum, staking may replace the lowered mining awards, as the difficulty time bomb still affects the network. But ETH is not the only coin to test staking. Other projects pivot to offering passive income, including the recently booming Chainlink (LINK).

Currently, Tezos offers one of the greatest passive annual income of 6.21% but combined with some inflation based on the growing supply of XTZ. Cosmos (ATOM) has annualized earnings of 8.52%. There are also coins offering outlandishly high annualized earnings, such as Livepeer at 78.6%. LTP, however, is extremely volatile and has lost 60% of its value since August.

ETH staking still has unclear parameters, ranging from staking a few ETH to thousands of coins. For now, it is uncertain what the rewards would be, but the annualized returns will aim to be relatively low.

Mining Bitcoin (BTC) remains a high-stakes activity with a great barrier to entry. Staking, however, may be a less costly mechanism for wider adoption. The only uncertainty about staking is access to the actual assets, as some of the coins may be considered securities based on offering passive income as a form of a dividend.

What do you think about staking passive income? Share your thoughts in the comments section below!

Images via Shutterstock, Twitter: @krugermacro

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Ethereum (ETH) 2.0 Upgrade May Revive Staking in 2020 - Bitcoinist

Hackers Keep Moving Ethereum They Got on Upbit – $37.5 mln in ETH Transferred – U.Today

About a week ago, the South Korean branch of the Upbit exchange had $50 mln in Ethereum (342.000 ETH) stolen from it without any security breach. Some experts believe it was an inside job.

After that, the Whale Alert Twitter account started publishing data that shows the culprits are transferring the stolen Ether in small portions from 1,000 ETH to 10,000 ETH.

On December 3, another 20,000 ETH was moved.

Whale Alert records all transactions on blockchain and posts them on their Twitter page. Since Upbit suffered the theft five days ago, the analytics account reported that around 253,000 ETH has been moved.

In the first portion, the culprits transferred about 200,000 ETH.

Image by Twitter

And over the last twenty-four hours, they moved another 53,000 ETH.

Image by Twitter

Image by Twitter

All together that totals approximately $37.5mln. It has been reported that the hacker tried to send a tiny portion of the stolen Ether to the Huobi exchange to test how it goes.

The head of Binance, CZ, promises to freeze any crypto taken from Upbitin course of the hack, should it be transferred to his exchange.

Earlier this year, there have been a few cases of hackers attacking crypto exchanges that were widely discussed by the community. The first one took place in early 2019 and it was the New Zealand-based Cryptopia exchange.

It lost around $6 mln in Ethereum but users kept funding their wallets despite the teams warnings not to do so. This enabled the hackers to steal crypto three times in a row. Finally, the exchange went into liquidation.

Another case was the crypto trading behemoth Binance. The hacker did not take any money, but he insisted that he stole users KYC data and even posted some on his Twitter page.

However, the Binance chief CZ denied losing the customer data, saying the published screenshots came from the previous loss of KYC info by one of the third parties Binance had worked with.

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Hackers Keep Moving Ethereum They Got on Upbit - $37.5 mln in ETH Transferred - U.Today

Ethereum (ETH) Wont Go Quietly, Risk of Bounce Grows – newsBTC

Ethereum price is trading in a range after a decent recovery versus the US Dollar and bitcoin. ETH price must settle above the $155 resistance to start a strong rise.

Yesterday, we saw the start of a decent upside correction in Ethereum from the $132 swing low against the US Dollar. ETH price managed to recover above the $140 and $142 resistance levels.

Moreover, the price traded above the $150 level, but it struggled to continue above the $152 and $155 resistance levels. A high was formed near $152 and the price is now trading below the 100 hourly simple moving average.

Recently, there was a downside correction below the $150 level. Besides, the price dipped below the 23.6% Fib retracement level of the recent recovery from the $132 low to $152 high.

However, the $144 support is acting as a short term support. On the downside, there is also a connecting bullish trend line forming with support near $144 on the hourly chart of ETH/USD. If there is a downside break below the $144 support, Ethereum price could test the key $142 support.

Additionally, the 50% Fib retracement level of the recent recovery from the $132 low to $152 high is also near the $142 level. Therefore, a close below the $142 support area might start a fresh decline in the near term.

On the upside, there are many hurdles near $150, $152 and $155. More importantly, there is a new key bearish trend line forming with resistance near $150 on the same chart.

To move into a positive zone and start a solid increase, the price must break the $152 and $155 resistance levels. In the mentioned bullish case, the price is likely to accelerate towards the $165 and $170 levels.

Ethereum Price

Looking at the chart, Ethereum price is trading in a range above the $142 support. In the short term, there could be a downside correction towards the $142 level, but dips likely remain supported.

Hourly MACD The MACD for ETH/USD is currently moving slowly in the bullish zone.

Hourly RSI The RSI for ETH/USD is currently well above the 50 level, with a few positive signs.

Major Support Level $142

Major Resistance Level $155

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Ethereum (ETH) Wont Go Quietly, Risk of Bounce Grows - newsBTC

Ethereum Scaling Fix Cuts Time to Create a Block in Half, Test Finds – Coindesk

Akombas results indicate BDN could have a modest but potentially cascading effect on block propagation in the Ethereum mainnet, one of the largest public blockchains and one of the more expensive to transact on, with gas prices around 20 cents. It is also a frequent target in the scalability debate.

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Ethereum Scaling Fix Cuts Time to Create a Block in Half, Test Finds - Coindesk

Ethereums price could recover as falling wedge takes hold – AMBCrypto

Ethereums price was trading below the $150 support area, following the cryptocurrency markets latest dip. At press time, ETH was down by 0.12% over 24 hours and was trading at $148.07, according to CoinMarketCap.

Ethereum 1-hour Chart

The formation of a falling wedge pattern was recorded by Ethereums hourly chart, with the price oscillating between two downsloping trendlines. This was indicative of a potential bullish breakout in the near-term. The 50 moving average was above the 100 moving average after it sustained a bearish crossover on 1 December following the collective market slump. On the upside, the moving averages appeared to be converging and could be heading for a bullish crossover in the future.

Following an upside breakout after the closure of the wedge, Ethereums price might possibly climb near the 50 moving average, i.e., $149. If the positive trend continues and gains necessary momentum, ETH could possibly breach $151. While a trend reversal at this point was not predicted, the coin found support at $145-level.

Contradicting indications

The MACD was still in the bears realm, with the signal line hovering above the leading line. The lines, however, appeared to converge. This might potentially mean a bullish phase for the coin in the future. The RSI was below the 50 median and was headed upwards. This suggested a high sell pressure among ETH investors. However, the upward movement of RSI could indicate a reversal of this trend.

Conclusion

A bullish breakout was projected from the pattern formation found on the chart. However, the indicators and the moving averages could resist the coin and stop it from climbing and breaching significant levels. If the bearish pressure continues, ETH bulls might find itself resisted at $149.

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Ethereums price could recover as falling wedge takes hold - AMBCrypto

Technical Analysis: Pivotal Weeks Ahead for the Price of Ethereum (ETH) – SludgeFeed

The next few weeks will likely prove to be pivotal for the price of Ethereum (ETH).

To simplify matters, since Bitcoin (BTC) is currently trending down and could range trade for an extended period of time, well consider the ETH/BTC chart.

A look at the chart shows a potential bottom in the 0.016-0.019 region, which may prove to be the last low for a while if Ethereum can move higher from here. Since September, ETH has been outperforming BTC, but recently failed to break above the resistance level of 0.022. Currently, the trading pair is looking to form a local low, potentially around the psychological support level of 0.020.

If bulls are able to flip this level, there could be more upside ahead and we would be looking at the 0.024-0.025 range as the next immediate resistance level.

While the technicals are looking fairly solid, the fundamentals of the Ethereum ecosystem are looking better than ever. The amount of Ethereum and total capital locked in decentralized finance (DeFi) applications continues to hit new highs. Additionally, blockchain gaming and NFT collectibles are beginning to take-off with investors beginning to back major projects. Finally, the impending switch to Proof of Stake (PoS) offers further economic incentives for larger participation in the network, adding another potential catalyst.

With that in mind, investors should keep an eye on Ethereum over the next few weeks and the remainder of 2019, as it will likely prove pivotal for the future price action of the largest altcoin.

US investors looking to trade ETH commission-free can earn $25 in free BTC by signing up for the Voyager appthroughthis link(or use code: SLUDGE25).

Disclaimer: This articles author has cryptocurrency holdings that can betracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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Technical Analysis: Pivotal Weeks Ahead for the Price of Ethereum (ETH) - SludgeFeed

Value of Ether (ETH) Locked in DeFi on Course to Pass $1 Billion Soon – Blockonomi

Ether is the gas and currency of the Ethereum network. As a testament to the growing use of that network, the USD value of ether locked up in Ethereum-powered decentralized finance applications, or DeFi dApps, crossed an all-time high of $700 million on November 29th.

That milestone has many Ethereum proponents guessing: when $1 billion?

To be sure, crossing the $1 billion mark is an arbitrary threshold, but it is a round, psychological point for stakeholders to gauge Ethereums fledgling performance.

Moreover, for the reigning smart contracts platform it represents a watershed moment validation by tangible, even if relatively modest adoption when Ethereum is rising but still very much so insurgent.

With detractors who have said Ethereum would never get this far and more yet who have never heard of the project at all, seeing $1 billion locked in DeFi shows not only that real utility is at work but that its also gaining traction.

The rise toward $1 billion comes after Ethereums biggest DeFi dApps have ascended in 2019.

For example, the biggest DeFi project to date, Maker, saw its governance votes facilitated through MKR tokens take on increased importance this year as Makers Dai stablecoin has become more and more of a darling to the Ethereum community. Notably, the Maker team just achieved its biggest milestone yet in activating Multi-Collateral Dai (MCD) earlier this month, a system that, among other things, allows users to draw out Dai loans using collateral beyond just ether.

Another big DeFi riser this year has been Compound, one of Ethereums growing stable of composable money legos that has in short order become the second most popular DeFi crypto lending service behind Maker. As a possible indicator of Compounds future prospects, the dApps builders raised a $25 million Series A war chest in November that they hope to use to bring the projects crypto lending services to mainstream users.

Another new DeFi heavyweight has been Synthetix, which has arrived on the scene much more recently than Maker or Compound. Still, Synthetix has glided into something of a vogue status this year, recently rising into second place (per Total Value Locked in USD) behind Maker on tracker website DeFi Pulse.

Simply put, Synthetix allows users to create Synths, or on-chain synthetic assets that are tied to the value of real world assets like stocks, indices, and beyond. And DeFi projects have their risks and rises and falls, Synthetix, like Maker and Compound, might just be here to stay.

As DeFi is still early, it still has its fair share of disadvantages.

One of those disadvantages might be that DeFi is becoming so important that its biggest dApps could be kingmakers in future Ethereum disputes.

Thats according toLeland Lee and Haseeb Qureshi, who outlined in a think piece earlier this month how Ethereum might have become unforkable as a result of the growing clout of its biggest DeFi dApps.

As such, the authors argued that major DeFi projects would have to pick one chain over the other amid a political Ethereum dispute, meaning the chain that the biggest DeFi projects choose to back will likely be the main Ethereum going forward. As Lee and Qureshi wrote:

If you imagine the movie version of this saga, the minority chain looks like an abandoned metropolis. Towering buildings sitting empty, alarms going off with nobody to respond, smoke billowing in the distance. Theres no one to even bother rebuilding for.

Of course, thats all just a theory for now, but the argument is compelling. Even the prospect of Ethereum being unforkable shows that the specter of the platform is growing.

eToro Risk Warning: 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

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Value of Ether (ETH) Locked in DeFi on Course to Pass $1 Billion Soon - Blockonomi

Open Positions Report: Where’s the money in the crypto market? Bitcoin, Ethereum, Litecoin, Bitcoin Cash – FXStreet

The basic concept of trading is to buy cheap and sell expensive. It is simple but in the world of trading conditions change very fast.

The perception of the value of an asset changes rapidly, and with it, the price someone is willing to pay. But the price paid for something is also important. Except in cases of need for liquidity or fear of losing, even more, no one sells below the cost price of their product.

In the world of trading stocks, currencies, or commodities, these magnitudes can be measured using option positions. In the crypto market, tools such as those provided by Intotheblock provide us with this information.

This tool provides us with information about the position in which the holders of a cryptocurrency are. This information defines three possible areas:

-In the Money: Defines the number of active addresses that are in profit. That is, if they sold their positions, they would make money.

-Out of the Money: Defines the number of active addresses that are losing money. In other words, if they sold their adpositions, they would lose money.

-At the Money: Defines the amount of addresses that are neutral. In other words, if they sold their positions, the result would be more or less neutral for their account.

Now let's see how these magnitudes are distributed in thee 4 top cryptocurrencies by capitalization.

In the distribution of positions in Bitcoin, there are currently 16.31 Mill of addresses (57.37%) In the Money, 10.91 Mill of addresses (38.39%) Out of Money and 1.21 Mill of addresses At the Money (4.24%).

The highest concentration of winning positions is in a range between $944 to $4,386 (2.8 Mill Bitcoins).

The highest concentration of losing positions are in the range between $10,051 and $19,310 (2.5 Mill Bitcoins).

The most remarkable information is the large volume of positions bought in the highest price range, which supports the idea that the price would tend to go up. In normal conditions, these buyers at high levels will not sell their Bitcoins.

It is also important to highlight the number of Bitcoins (1.2 Mill) quantified at zero or quasi zero cost. These are Bitcoins mined in the first moments. This group represents the biggest threat to the price.

In the distribution of positions in the Ethereum, there are 3.71 Mill of addresses (11.09%) In the Money, 28.89 Mill of addresses (86.47%) Out of Money and 227.2 K of addresses At the Money (2.43%).

The highest concentration of winning positions is between $0.01 to $145.67 (34.5 Mill Ethereums).

The largest concentration of losing positions are in the range between $153 and $175.86 (12.6 Mill Ethereums).

The most remarkable information is that the largest group in losses is just above the current price, which would be a reason for it to cost so much to exceed that level between $153 and $175 to the ETH/USD pair. There are many people who, when the price reaches these levels, will be making money and might be tempted to sell. These sales consume upside potential and complicate evolving to higher rates.

In the distribution of positions in Bitcoin Cash, currently, there are 14.8 Mill of addresses (84.77%) In the Money, 2.57 Mill of addresses (14.70%) Out of Money, and 93.5 K of addresses At the Money (0.54%).

The highest concentration of winning positions is in a range from $0.00 to $0.00 (5.95 Mill BCH).

The largest concentration of losing positions are in the range between $246 and $320 (1.82 Mill BCH).

The most remarkable information is that the highest concentration of winning positions is at 0 costs, so they are tokens obtained in the fork process, distributed among the Bitcoin forks.

It is also interesting to see how few addresses there are in the current range, ranging from $208 to $220. At this price level, there should be very little resistance, as few traders are willing to sell.

In the distribution of positions in Litecoin, currently are 571 K of addresses (15.14%) In the Money, 3.12 Mill of addresses (82.51%) Out of Money, and 88.6 K of addresses At the Money (2.35%).

The highest concentration of winning positions is between $28.4 to $44.5 (15.7 Mill from Litecoins).

The largest concentration of losing positions are in the range between $73.5 and $94.3 (9.4 Mill of Litecoins).

The most remarkable information is that the current price rests directly on the largest volume of traders who are in the money, so they have no anxiety to sell and thus give strength to the ongoing supports.

Continued here:

Open Positions Report: Where's the money in the crypto market? Bitcoin, Ethereum, Litecoin, Bitcoin Cash - FXStreet

Ethereum Express Launches Two Pilot Projects Spanning Over 48,000 Users – The Merkle Hash

The community-driven Ethereum Express network has announced the launch of two pilot projects with an audience of over 48,000 users. The Proof-of-Authority algorithm based blockchain will be applied in both projects to ensure higher efficiency and transparency of operations.

The Ethereum Express blockchain has recently undergone successful testing and shown outstanding values exceeding 1,000 transactions per block with network capacity reaching over 200 transactions per second that beat the Ethereum networks 15 TPS hands down. Over 48,000 users from the US, Japan, Brazil and Ukraine are encompassed by the pilot projects with a total net value of around $500 million.

One of the pilot projects is reportedly Mining Express, the worlds fifth largest mining company. Mining Express is seeking scaling of its mining infrastructure in light of increased customer demand as management believes that the EEX project can help increase the efficiency of its operations.

The EEX blockchain team is looking forward to the successful implementation of pilot projects, as that would allow it to highlight the technical characteristics of its solutions and attract the attention of potential business partners from other industry sectors. The endeavor will also allow the Ethereum Express to grant its community the chance of generating passive income through transaction validation on is blockchain.

The Ethereum Express network is also introducing its internal EEX coin as the main means of settlements within the infrastructure and as the main instrument of transactions between the gambling and mining industries the pilot projects are operating in. Among the potential applications for the EEX coin is the role of a global backup currency that would expand into other business environments.

The development team of the Ethereum Express project is confident in the success of its pilot projects, as success will pave the way for the adoption and popularization of EEX as a reliable blockchain partner for a variety of business sectors.

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Ethereum Express Launches Two Pilot Projects Spanning Over 48,000 Users - The Merkle Hash

VC Investor: 3 Reasons to Not be Concerned With Ethereum Scaling – newsBTC

Ethereum has come under fire this year over scaling issues and longevity of the project. There will always be the detractors which support rival crypto platforms and the phalanxes of Bitcoin maximalists believing that BTC is the only fruit. One prominent VC investor sees no reasons to be concerned with ETH scaling issues.

There is a lot of work going on under the hood on the Ethereum network at the moment. The project has more developers than any other competing platform yet serial detractors continue to bash it. VC investors and former project manager at Coinbase, Linda Xie, is not worried as she recently explained.

The first reason is that all scaling issues are likely to be solved with ETH 2.0. The development work on Serenity is progressing as planned Xie pointed out. The first step to the next iteration of the network will be Phase 0, Beacon Chain implementation.

Version 0.9.2 of the Phase 0 spec was released a few days ago with further tweaks to the system. Testnets such as the one from Prysmatic Labs continue to put Beacon Chain through its paces to ensure a smooth rollout to mainnet later next year. Istanbul must come first though and that hard fork has been scheduled for December 8 or thereabouts.

Phase 1 will be sharding implementation which will follow once Phase 0 has been successfully deployed. This will split the data processing responsibility of the blockchain among many nodes, allowing parallel transaction, storing, and processing of information which eases the load on the Ethereum mainchain and permits scaling.

Phase 2 which is even further down the roadmap includes the introduction of a new Virtual Machine Ethereum-flavored Web Assembly (eWASM). This would allow web standard (W3C) smart contracts written in any language to be executed on Ethereum.

Xie added that there are great teams working on other promising solutions such as Optimistic and ZK Rollups. Optimistic is a promising technology for scaling general-purpose smart contracts on Ethereum in the near term while ZK Rollup is a more sophisticated technology which can be used for token transfers and specialized applications today.

Thirdly the Scalar Capital co-founder added;

Certain use cases can take off that dont require significant scaling e.g. DeFi

DeFi has been touted as the future of decentralized finance and a system that is long overdue in a world where banks are drowning in their own debts. Even with the Ethereum price dump, DeFi markets continue to grow.

With all of Ethereums scaling solutions and a healthy decentralized finance market there really is nothing to be concerned about. Price on the other hand is a little hard to swallow at the moment, but with ETH wallowing around the $150 level and a bright future ahead, it can only go one way in the long term.

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VC Investor: 3 Reasons to Not be Concerned With Ethereum Scaling - newsBTC

Staking And Validation Details in Ethereum 2.0 Disclosed – U.Today

The Ethereum (ETH) network is preparing itself for the most radical update in its history - switching from Ethereum 1.0 to Ethereum 2.0. This may occur in 2020 after the last Ethereum 1.0 hard fork.Carl Beekhuizen of the Ethereum Foundation's Research and Development (R&D) Department recently shared some details on the status of the future network.

Sincethe design of Ethereum 2.0 will be quite different from what we have seen with Ethereum 1.0, the migration process will take a significant amount of time. At the moment, developers plan to organize it in three stages.

During Phase 0, or "Beacon Chain", the interaction between validators andthe coordination of shards will be managed. Mr. Beekhuizen added that "the beacon chain is the source of ground truth" for Ethereum 2.0.

During Phase 1, the data will migrate to newly designed components from the existing ETH. Finally, Phase 2will upgrade Ethereum 2.0from a robust database to a fully decentralized computing platform.

Mr.Beekhuizen also mentioned the progress with these stages:

At the time of writing, Phase 0 is nearing launch as developers put the finishing touches on the client software. Meanwhile, the specification for Phase 1 is being completed, and Phase 2 is under active R&D, saidCarl Beekhuizen.

The new ETH will be a Proof-of-Stake (PoS) network, where all transactions will be approved by validators. Mr.Beekhuizen says that the design of Ethereum 2.0 will allow a "million" validators to simultaneously act on the network. In order to avoid the system from overloading, all validators will interact with the main network through "committees".

Ethereum 2.0makes the distinction betweennodes and validator clients, and validators will need both in order to perform their duties. Each validator will need to stake exactly 32 ETH to a validator deposit contract.

Therefore, people who wish to stake more ETH will need to run multiple validator instances. The node-client separation allows such users to only run a single beacon node with multiple validators connected to it, thereby reducing computation, memory, and storage requirements.

According to Carl Beekhuizen, the network will be enough reliable to survive World War III, unsophisticated enough to run on a laptop, and fraud-resistant enough to assume that validators will belazy and take bribes.

ETH is currently worth $151.3 USD, so you can become a validator on Ethereum 2.0 network for only $4,842 USD. Does this sound interesting to you? Share your thoughts on Twitter!

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Staking And Validation Details in Ethereum 2.0 Disclosed - U.Today

Ethereum 2.0 progress shows improved initial sync block processing times – AMBCrypto

Prysmatic Labs, a team of developers building code onEthereum, recently published a report on the latest Ethereum 2.0 development updates. The report detailed the changes that have been implemented, while also expanding on the steps taken to ease the further development of the upgraded blockchain.

According to Prysmatic Labs, Prysm nodes on the testnet observed a finalized checkpoint reversion on 21 November, causing incoming attestations to be rejected. On further investigation, the team found an edge case in the fork choice specification, a finding which led to a catastrophic difference in perspective on what the right finalized checkpoint was.

In response, the team wrote tools to extract the bad nodes database for playback and used a lot of Prometheus graphs to help narrow down the problem. Additionally, the team claimed to have significantly improved initial sync block processing times by reducing concurrency issues on the database, while enabling data compression to reduce storage requirements.

A modern consumer grade laptop can sync 50 to 60 blocks per second on the Prysm test network and the final database size ends up at less than 600Mb when combined with experimental feature flag prune-states. This means you can sync to the testnets head block in under 1 hour at 150k slots!

The report also provided details about other new features added over the last few weeks, such as allowing the filtering of active validators in the ListValidators API call and returning whether or not an epoch is finalized in its GetValidatorParticipation endpoint. Further, the team also enabled explicit filtering of genesis data for beacon blocks and attestations.

Listed under the Upcoming Work section of the report, Prysmatic Labs added that they would be actively working on integrating Slasher with the Beacon Node, while fixing P2P network peering by attempting to enhance the P2P connection manager from libp2p to have a hard limit on peers.

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Ethereum 2.0 progress shows improved initial sync block processing times - AMBCrypto


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