Ethereum's Price at $44,000, Bitcoin at a Million in VeChain's Vet Trading Pair on Binance
One eth is worth $44,000, but only on one exchange and in only one trading pair this fine morning on July 31st 2018. A coin with a $1.3 billion market cap, VeChain, has seen its price plunge some 100x on a token mainnet swap from Ven (VeChain) to Vet or VeChain Thor. Its dollar price fell from around $2 to $0.02. That?s reflected in the VET/ETH trading pair where one eth costs more than $44,000 worth of VET tokens. For bitcoin, its price is at $800,000 in the VET/BTC trading pair with considerable volumes of $10 million exchanging hands in the past 24 hours. All of that however is a fiction, a charade, because VeChain?s token swap from ethereum?s blockchain to their own blockchain was not a one to one affair. This piece was first found by us on January 08, 2019 8:42 PM. Check out www.trustnodes.com for more similar content.
Shakeup at SEC Might Increase Chances of a Bitcoin and Ethereum ETF
David W. Grim, Director of SEC?s Division of Investment Management, is to leave the agency next month, according to a press release. The reasons for his departure are unclear, but it may be part of a shakeup at the SEC after the Trump administration came to power earlier this year. Grim was the top official in charge of approving new ETFs, including the bitcoin ETF that was rejected at literally the last minute, which some took as an intentional insult towards this space. He joined the agency directly from law school and rose to oversee ?the $70 trillion dollar asset management industry, which includes mutual funds; exchange-traded funds; closed-end funds; variable insurance products; business development companies and investment advisers.? This information was retrieved by us on January 08, 2019 8:41 PM. Check out www.trustnodes.com for complete listings from this source.
Ethereum Yellow Paper s Holistic Validity Explained
The Ethereum Yellow Paper specifies several block requirements. Section 4.3.2 focuses on six block header hashes. Holistic validity is the property of these six hashes being correct. I will elaborate on all of this. All hashes are Keccak 256 hashes. Before Keccak 256 hashes of data structures can be calculated, they must be converted to bit strings using Recursive Length Prefix (RLP) encoding. To calculate ?roots? of sets of key value pairs, the pairs must be placed in Merkle Patricia tries. Roots are the hashes of the RLP encodings of the top nodes of these tries. This is admittedly a lot of preliminary material. Click on the links for more information. This publication was retrieved by us on January 08, 2019 8:41 PM. Browse medium.com for complete listings from this source.
Ethereum's Geth Client Now Processes Blocks 40% Faster, Solidity Update Launched
The newest client release for ethereum?s Geth, the main eth client written in Go, is now out with one eye-catching improvement as it ?optimizes dirty object handling during block processing, leading to 40% faster blocks.? This is just a maintenance release, so it?s a ?simple? client update with no consensus changes and thus no forks or network upgrades. The main optimization of 40% faster blocks, however, could potentially increase the network?s transaction capacity. To clarify, this isn?t faster block production. Eth blocks remain at an average of around 15 seconds. As stated there is no consensus change. This article was first found by us on January 08, 2019 8:40 PM. Check out www.trustnodes.com for more similar content.
1,000 Developers Hacking Ethereum in San Francisco
San Francisco, the centre of the 60s cultural revolution, is currently housing 1,000 developers who are plotting to hack eth at the Palace of Fine Arts. In a secret congregation, they gather to discuss a great conspiracy which plans to usher a digital world under the people?s control. Amid numerous ideas expressed by the young and old, there is a break for a religious sermon that has one command: Know Thy User. What this means precisely remains a mystery, a metaphors of sorts, condensed knowledge of old that us mortals can not unfold. A far more daring speech is being made in another gathering. A hyper-millennial tells the audience: the bots are coming. This posting was retrieved by us on January 08, 2019 8:40 PM. Visit www.trustnodes.com to find more similar content.
Ethereum Sideways as OmiseGo and NEO Steal the Show
Ethereum has taken a break for the day, perhaps preparing for the weekend, with the currency hanging around $300 and not really moving much. The culprit might be spartan memes. There?s isn?t any this time! We joke. The currency appears to be going through some consolidation, with its volumes considerably falling today to less than a billion, down from $2.5 billion just yesterday and the day before. After its more than doubling of price from a recent bottom of $130 to a high of $314, some relaxed straight line movements might be even a good thing, but the real reason why it?s taking a break is probably because ethereum traders are cheating on eth with some cool new kids called OmiseGo and NEO. This item was first seen by us on January 08, 2019 8:39 PM. Visit www.trustnodes.com for additional posts.
Ethereum's Node Infrastructure Provider Infura Handling 10 Billion Requests Per Day
Infura, a node infrastructure for dapps that lets individuals use say cryptokitties without needing to run a node themselves, is now serving some 35,000 dapps and developers. That includes MetaMask, the plugin that allows you to access the ethereum blockchain from your browser, MyCrypto, the eth and crypto wallet, the ox protocol, Ujo, Oraclize, and far too many others to mention. Infura is now serving some 10 billion requests every single day, up from 6 billion in February, with Michael Wuehler from Infura describing a request as follows: ?Beyond these 400,000 ?write? transactions per day, the Ethereum network supporting decentralized application handles many more ?read? requests in the form of JSON RPC API calls. This item was obtained by us on January 08, 2019 8:38 PM. See www.trustnodes.com for complete listings from this source.
Ripple Close to Overtaking Ethereum in Market Cap, Volumes Jump Above $2 Billion
Ripple has gone ballistic, doubling since Tuesday from 25 cent to now 50 cent, up 50% just in the past 24 hours. Its volumes have also spiked, up 4x since yesterday to now above $2 billion with South Korea and Japan leading for now. This astonishing rise follows news that a Saudi and a South African bank has joined RippleNet, a payments system with one of its component, xRapid, to be launched next month. xRapid and RippleNet in general are basically a method of transferring fiat through crypto rails. So you buy XRP on say a British exchange and then send that XRP to a say South African exchange with the South African money then moving through the fiat rails. This share was found by us on January 08, 2019 8:37 PM. Check out www.trustnodes.com for more similar content.
Ethereum's Hashrate Falls 20%
Ethereum?s hashrate has dropped in the past month from 294 Terahashes to a low of 246 TH/s, down to February levels. Making this the biggest drop in ethereum?s hashrate certainly in the past year, but perhaps even since ethereum?s invention in 2015. That means ethereum mining has now become unprofitable for many, with plenty seemingly turning off their GPUs or sending them to other coins. That?s because ethereum?s price has fallen considerably in the past month, from around $400 to a low of $167 before recovering somewhat to $220. Miners, therefore, might not be able to cover their costs, with some potentially closing shop while others try to survive on rainy day funds. This share was first found by us on January 08, 2019 8:36 PM. You may want to visit www.trustnodes.com for complete listings from this source.
Gifto ICO Sells Out in Seconds For Virtual Gifting Digital Assets on Ethereum
Cryptokitties meets virtual gifts. That could be the faster than elevator pitch for one of the hottest ICO which raised $30 million in seconds. Backed by some respected VCs, it is headed by Andy Tian, a former General Manager of Zynga China and an early member of Google China. The project already has a seemingly successful centralized live-streaming platform serving 20 million users that generated $100 million in revenue this year from virtual gifts. But now, its parent company Asia Innovations Group (AIG) wants to decentralize it all by using ethereum?s blockchain tech and smart contracts. Every virtual gift will be a digital asset, they say in their prospectus whitepaper. But does anyone really pay for these intangible things? Apparently they do, and some are willing to pay quite a lot: This article was obtained by us on January 08, 2019 8:36 PM. Browse www.trustnodes.com for complete listings from this source.
Ethereum's Hashrate Drops to a Nine Months Low
Ethereum?s hashrate has fallen to its lowest level since February, down now to 236 terahashes a second from a high of 297 TH/s reached in August. Until August, ethereum?s hashrate only kept increasing, but since then it has only known down, nearing now a 25% drop. That suggests ethereum miners are hurting and badly. One industrial miner, for example, said back in August that electricity costs alone stand at $152 to mine one eth. There?s of course hardware costs and other costs, such as real estate or storage at an industrial scale, employees, taxes, and plenty else. That $152 for energy is however at a cost of 12c per kWh. In some areas of China and in some areas of the United States, you can get electricity at about 5c. This share was discovered by us on January 08, 2019 8:35 PM. Browse www.trustnodes.com for more from this source.
Ethereum's Lightning Network Like Raiden Testnet Launched, Mainnet Planned for Summer
Raiden, a second layer protocol in development for some two years which bundles many transactions into one on-chain transaction, has today deployed on ethereum?s Ropsten testnet. They say: ?There are still some minor issues left for the mainnet Red Eyes release. Once these are completed and all issues discovered through testing on the testnet are addressed, we will proceed with taking the Red Eyes release to the Ethereum mainnet.? The project is hoping to have the mainnet out by summer as previously promised, with Lefteris Karapetsas, formerly from Slockit DAO now a dev at Raiden, stating ?until the end of August it?s still summer.? This item was first found by us on January 08, 2019 8:34 PM. Visit www.trustnodes.com for more from this source.
Ethereum Fastest Growing Blockchain Project, Dapp Fastest Growing Topic on Github
Ethereum?s geth client is the only one to make it to the top ten fastest growing projects in open source code. According to Github, the devs coordination tool/site where most open source projects are published, Ethereum Go is now the fifth fastest growing open source project. This is the first time, as far as we are aware, that any crypto or blockchain project makes it to Github?s top rankings, but there?s more. Dapp, cryptocurrency and smart contract have all made it to the top ten fastest growing topics on Github. Dapp is the fourth fastest growing topic, with cryptocurrency in sixth position and smart contracts at ninth. This item was found by us on January 08, 2019 8:33 PM. You may want to visit www.trustnodes.com for complete listings from this source.
Bitcoin and Ethereum Follow Metcalfe s Law of Network Effects New Study Says
Metcalfe?s Law, which states that the value of a network is proportional to the square of the number of its users, applies to bitcoin and ethereum according to a new study published at the journal of Electronic Commerce Research and Applications. The study measured the value of the network based on the price of relevant digital currencies and compared it to the number of unique addresses that engage in transactions on the network each day, according to the abstract. The results show that ?the networks were fairly well modeled by Metcalfe?s Law, which identifies the value of a network as proportional to the square of the number of its nodes, or end users,? the study says. This information was first found by us on January 08, 2019 8:33 PM. Check out www.trustnodes.com for more similar content.
Coinbase's PayPal Like Plugin Integrates With Shopify, Allowing Two Minutes Set Up For Merchants to Accept Ethereum, Bitcoin, Bitcoin Cash and Litecoin
Shopify, an e-commerce platform with 500,000 merchants handling $45 billion in yearly volume, has integrated with Coinbase Commerce, allowing for easy set-up of ethereum, bitcoin, bitcoin cash and/or litecoin payments. The integration has made it as easy as going to Shopify?s Settings, selecting Payment providers, then in the Alternative Payments section you click Select additional payment method to choose Coinbase Commerce. At which point, you?re pretty much done and ready to start accepting crypto payments through a fairly smooth interface. We have not yet received a confirmation regarding what fees Coinbase charges, with some saying they currently charge none. This data was first found by us on January 08, 2019 8:33 PM. Have a look at www.trustnodes.com for more.
"By 2020 Ethereum's Market Cap Will Be Ten Times Higher Than Bitcoin's" Says Pantera's Noyes
Charles Noyes, Quantitative Researcher at Pantera Capital, had a bold prediction to make during a Mena Summit last week. The tech prodigy, who started mining bitcoin when 11 around 2010 or so, showed an almost exclusive interest in ethereum and its wider ecosystem, boldly predicting it will be ten times more valuable than bitcoin. The little known 19 year old seems to be a prolific coder and apparently wrote a peer reviewed paper titled ?Sybil Resistant P2P Range Queries over the Blockchain? when he was just 16. His wider comments therefore, and indeed the entire session, is interesting because they highlight just at how an early stage eth is. As such, we quote at some length Noyes stating: This information was first seen by us on January 08, 2019 8:33 PM. You may want to visit www.trustnodes.com for more from this source.
Ethereum Arbitrage Bots Keeping Bitcoin Afloat in a Near Perfect Correlation
Bitcoin and ethereum fell around 20% today, with nearly all other digital currencies in complete red as their total market cap falls below $100 billion. The dive appears to have mainly been caused by bitcoin as the currency faces heightened uncertainty over its future following a statement by Bitmain, one of bitcoin?s biggest miner, that they will hardfork on August the 1st if the flag day soft fork known as UASF goes ahead. That means the currency may split into two, which would likely create some short term chaos, so in anticipation bitcoin investors appear to be divesting, sending its price down by nearly $1,000, currently trading at $2,200 as of writing. This data was discovered by us on January 08, 2019 8:32 PM. Browse www.trustnodes.com for more from this source.
Ethereum Based BAT ICO Raises $36 Million in 30 Seconds to Disrupt Advertising
The latest token sale on ethereum?s network is over almost as quickly as it started. The Basic Attention Token from Brave Browser raised some $36 million worth of eth in around 30 seconds. Some managed to get through with just ten eth, but the majority went to big investors, with the largest sum sent being more than 20,000 eth, currently valued at around $4.7 million. The second biggest isn?t far behind, sending around $4 million, with two more following at around $2 million and a lot more at around $1 million, giving BAT a total number of 190 token holders. That makes it one of smallest amount of token holders so far and the quickest ICO sale at this level of funding, a fact which may raise questions on how such sales should be slowed down so that everyone can have the opportunity to buy a portion. This posting was retrieved by us on January 08, 2019 8:32 PM. Check out www.trustnodes.com for additional posts.
Ethereum's Price Flash Crashes on Kraken Below $240
Ethereum?s price briefly fell to $237 on Kraken, which usually handles about $20 million worth of eth/usd trading volumes within 24 hours. The flash crash occurred earlier today at about 4:59 AM London time with the reason for it remaining unclear as Kraken has not publicly said there was any glitch. It may well be, therefore, this was a big market order or perhaps a fat finger with about 18,000 eth sold and bought within 1 minute at precisely 4:59AM London time. That strongly suggests someone market sold about $5.2 million worth of eth, either intentionally or by accident, with price then returning to normal levels on increased volumes. This posting was found by us on January 08, 2019 8:32 PM. Visit www.trustnodes.com for more from this source.
Ethereum Undervalued, Bitcoin Overvalued, Says Metcalfe's Law
Although there are suggestions ethereum?s and bitcoin?s valuation is largely speculative, data analysis has in fact shown strong correlation between the price of eth or btc and Metcalfe?s law of network effects. Data analysis has indeed shown such correlation is so strong ?in any other field? [it] would be considered witchcraft.? The analysis undertaken by Clearblocks is not at a level of scientific scrutiny, but they propose a new Price-to-Metcalfe Ratio (PMR), which can operate somewhat similar to a price-to-book ratio in equity analysis. They claim PMR ?appears to be a rather strong leading indicator that accurately predicted 3 of bitcoin?s largest corrections when using a PMR of 1.0 as the cutoff. Using a PMR of -1.25 we can also identify potential accumulation zones.? This item was discovered by us on January 08, 2019 8:31 PM. See www.trustnodes.com for more similar content.
Nearly 1% of All ETH Now Locked in DAI, Maker Become the Most Valuable Ethereum Token
Maker has risen another 20% today on increased volumes of $3 million, more than doubling in price since September 12th from about $300 to now $750. In the past few days especially, it has seen an acceleration in price, up by about $200 since this Friday. That has given Maker a market cap of above half a billion dollars, making it the most valuable ethereum token after overtaking OmiseGo today, a token that has long dominated the top position for eth. The success of Maker is dependent on the success of DAI, an algorithmic stablecoin that effectively turns collateralized eth into pegged dollars. Now nearly a year since Dai launched, that peg has kept even through some of the most volatile and testing times, like September 12th when ethereum reached a low of $167. This article was obtained by us on January 08, 2019 8:31 PM. You may want to visit www.trustnodes.com to find more similar content.
Ethereum's Uncle Rate Falls Nearly 50%, Could Miners Now Increase the Limit
The rate of ethereum?s uncle blocks has fallen from an all time high of 2,100 a day to currently around 1,200 despite the network recently being congested and apparently operating at full capacity. Fees have fallen today to now just 15 cent, but that?s while transactions are at only 500,000 a day, significantly lower than the 1.4 million during December. As can be seen above, uncles begun significantly rising in October, hitting a peak in January, then fell below 1,000 in April. Since then, they have slightly risen again in line with the price rise and the rise in transactions, but fell and seem stable at around 1,200. This information was obtained by us on January 08, 2019 8:31 PM. Check out www.trustnodes.com for more from this source.
Bitcoiners Crying About Ethereum's Blockchain Size While Not Knowing it's Running at the Same 1MB Every 10 Minutes as Bitcoin
Ethereum is currently handling 800,000 transactions a day, bitcoin is at around 200,000. The two are fundamentally similar, so then it must mean ethereum simply has a bigger blocksize? It is an assumption bitcoiners very understandably make. We did too once and found out to be very mistaken when the sudden coming into life of ETC shocked us fully for we thought eth would have the same difficulty re-adjustment as bitcoin. It doesn?t. Eth re-calculates those Proof of Work difficulties every block, unlike bitcoin which does so every two weeks. A slight change, but big consequences where assumptions are concerned. This posting was first found by us on January 08, 2019 8:31 PM. Browse www.trustnodes.com for additional posts.
Ethereum Transactions Fall Off the Cliff, Three Plasma Projects Close to Release Says Buterin
Ethereum?s network is currently processing the lowest level of transactions for the year, down in a straight line from 840,000 on June the 25th to 450,000 on Independence Day. Yet fees currently stand at nearly 30 cent per transaction, down from $1 since a few days ago but still puzzlingly high considering the network is operating at just 1/3rd of its capacity. This apparent detachment of fees and transaction numbers might be due to a misuse of gas calculations, yet it might also be due to a stickiness effect. Comparable to wages which are slow to rise or fall, fees too may experience the same because busy entities may have other things to deal with. This data was first seen by us on January 08, 2019 8:30 PM. Have a look at www.trustnodes.com for more from this source.
Interest in Bitcoin and Ethereum Falls by 75% According to Google Trends
Google searches for bitcoin and ethereum have considerably fallen recently from a high of 100 to now just 25 according to google trends. Bitcoin in particular has been falling since December, with google searches now standing at the same level they were in October-November. Interestingly, the countries most interested in bitcoin have also changed. It used to be primarily African countries that showed most interest, but now it is mostly developed economies: Ethereum has a similar story. While it managed to regain a high level of interest in January, after a fall in December, it has been falling since down to around 25, the same level as November. This publication was retrieved by us on January 08, 2019 8:30 PM. You may want to visit www.trustnodes.com for more.
Russia's Equivalent of Swift to Run on the Blockchain Says Central Bank, Might Use Ethereum
Russia?s clearing and payment system for banks, developed in 2014 as an alternative to SWIFT after suggestions they may be cut off from it, is to run on the blockchain by 2019 according to local media. Izvestia, a long-running high-circulation daily broadsheet newspaper in Russia, reported the development on Friday, stating according to a rough translation: ?In 2019, the Central Bank will transfer the Financial Communications Transfer System (SPFS) ? the Russian equivalent of SWIFT ? to the blockchain system. A source close to the Bank of Russia told Izvestiya about this. The information was confirmed by two bankers familiar with the situation.? This post was obtained by us on January 08, 2019 8:28 PM. Have a look at www.trustnodes.com to find more similar content.
Ethereum Not Forking Over Asics, Casper Coming in Around Five Months
Sounds like the consensus of core developers is that we should not do anything at this time regarding the asics fork proposal, Hudson Jameson, an ethereum developer, stated after a public discussion between ethereum developers. This is not bitcoin, miners are not in control, if they get evil, we?ll just speed up Casper?s development, Vitalik Buterin said. The Bitmain asics miners is only 2.5 times more efficient, Buterin argued. It looks like it?s just a more efficient computer of sorts, he said. That means if eth forks the algorithm would have to be something which is not I/O bound, like sha3. However he expressed concerns over the time it would take to implement that algorithm and whether it would delay other developments. Strongly lean towards no action, he said. This information was first seen by us on January 08, 2019 8:28 PM. Check out www.trustnodes.com for additional posts.
Millions of Dollars Are Being Sent to a Ponzi Like Ethereum Smart Contract Game That Might Never End
Revolutionizing finance, industry, entertainment, games, is one thing, but revolutionizing ponzi schemes? Kids! With their silly memes and flashy graphics, they are attracting some 25,000 transactions in a day, amounting to 15,000 eth ($8 million) changing hands yesterday. Far more ?transactions? however have been made in speculations. Will millions of eth be locked in there? Will miners attack? Will it ever end? Is this a game for bots or men? Fomo3d is simple in concept. You buy a ?key,? which is kind of like a token, and that key adds 30 seconds to a timer. Part of the eth you paid for the key goes to a pot, which currently has some 28,000 eth ($13 million). Part of it goes in ?dividends? to those that bought a key before you. This publication was first found by us on January 08, 2019 8:27 PM. Browse www.trustnodes.com for more from this source.
"IOTA is a Bad Actor" Says Ethereum Developer
Nick Johnson, a developer at the Ethereum Foundation, has stated he finds IOTA ? a currency with a current market cap of $1.5 billion ? ?deeply alarming.? Johnson says they are reinventing ?basic operations such as cryptographic hashing,? violating ?rule 1 of cryptography: don?t roll your own crypto.? A basic and fundamental mistake which led to findings by Neha Narula of a number of significant vulnerabilities in their cryptography. But Johnson?s biggest concern is that IOTA?s developer claims to have intentionally added these vulnerabilities so as to prevent others from copying their open source code by allowing them to compromise these projects if they wished. Johnson says: This information was retrieved by us on January 08, 2019 8:26 PM. Check out www.trustnodes.com to find more similar content.
Aggregated knowledge base entries about Ethereum (ETH) Titles not entered by Crypto.BI and are Copyright(C) their original authors.
Work & Learn