Thirty big banks, tech giants, and other organizationsincluding J.P. Morgan Chase, Microsoft, and Intelare uniting to build business-ready versions of the software behind Ethereum, a decentralized computing network based on digital currency.

The group, called the Enterprise Ethereum Alliance, is set to debut at a summit in Brooklyn, New York on Tuesday, during which members J.P. Morgan Chase (jpm) and Banco Santander (san) are scheduled to demonstrate a pilot of the financial technology as it exists today. The pair plan to show off a spot trade on the foreign exchange market for global currencies using an adaptation of Ethereum as the settlement layer.

Ethereum uses a blockchain, often referred to as a distributed ledger, to record and execute transactions without the need of a middleman. Instead of a centrally managed database, copies of the cryptographic balance book are spread across the network and automatically updated as any payment takes place.

Satoshi Nakamoto, the mysterious inventor of Bitcoin, first introduced the concept of a blockchain to the world in a foundational white paper nearly a decade ago. (You can read more about Ethereum, a more flexible and developer-friendly alternative to Bitcoin with its native cryptocurrency, Ether, in this Fortune feature.)

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The Ethereum alliance arrives as a challenger to several other extant blockchain ventures. The R3 consortium, for example, counts scores of partnering banks among its members, despite recent high-profile departures by Goldman Sachs, Santander, and Morgan Stanley. It has created Corda, its own take on a blockchain.

IBM (ibm), meanwhile, has spearheaded another initiative known as the Hyperledger Project, part of the non-profit Linux Foundation. That group maintains the fabric blockchain codebase, which as been used in supply chain trials with Wal-Mart (wmt).

Much of the interest to date from traditional financial firms involves private blockchains, meaning permission from an authority is required before a party can join the network. The original versions of Bitcoin and Ethereum have public networks that anyone can join. (At press time, the market caps of their cryptocurrencies were approximately $19 billion and $1.4 billion, respectively.)

Alex Batlin, blockchain lead at Bank of New York Mellon, said that while the Ethereum alliance will focus on the development of private blockchains, the hope is that these will one day link up with the public Ethereum blockchain, which is open to all.

That interconnection of public and private chains actually creates a very strong network, Batlin said on a call with Fortune. Each chain strengthens the other at an exponential level.

In the view of its proponents, Ethereums public and private networks will become analogous to intranets versus internets; they will share standard protocols, but have different configurations for privacy and security, depending on each organizations needs.

Members of the Ethereum alliance include Accenture, BBVA, BNY Mellon, BNP Paribas, BP, Cisco, Credit Suisse, ING, Thomson Reuters, and UBS. Also joining is IC3, or the Initiative for Cryptocurrencies and Contracts, an academic group consisting of researchers from universities such as Cornell University, UC Berkeley, and Israels Technion.

Several representatives from alliance firms cited the energy surrounding Devcon2, Ethereums fall developer conference in Shanghai, as the focal point that led to their collaboration on this effort. Despite multiple hacks on Ethereum-based applications and a controversial splitting of the Ethereum network, enthusiasm in the network has apparently not diminished.

J.P. Morgan is responsible for developing the basis of the blockchain tech for the alliance. Called Quorum, the banks code has been designed to add privacy protections into the mix, among other tweaks.

The partners will help each other develop the foundations for different use cases, such as post-trade settlement, payments between banks, and supply chain tracking, while competing on applications and services built atop the networks. The top priorities for the alliance now include ensuring scalability and security.

The other founding members of the alliance are BlockApps, Nuco, AMIS, Andui, CME Group, ConsenSys, Fubon Financial, brainbot technologies, Chronicled, Cryptape, The Institutes, Monax, String Labs, Telindus, Tendermint, VidRoll, and Wipro.

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Ethereum: JPMorgan, Microsoft, Banks Form ... - fortune.com

Key Highlights

Ethereum price corrected sharply lower after trading to new weekly highs against the US Dollar and bitcoin. ETH/USD must stay above 100 SMA to bounce back.

Yesterday, we discussed a possible upward move above $150 in ETH price against the US Dollar. The ETH/USD pair gained traction and broke the $150 and $154 resistance levels. A new weekly high was formed at $159 and later the price corrected lower sharply. It broke the $150 and $145 support levels to enter a short term bearish zone. Besides, there was a break below the 50% Fib retracement level of the last move from the $124 low to $159 high.

More importantly, yesterdays highlighted key bullish trend line was breached with support at $141 on the hourly chart of ETH/USD. The pair even broke the $135 and $132 support levels and traded towards the 100 hourly simple moving average. If there is a downside break below the $124 low and the 100 SMA, there could be more declines. The next stop for sellers could be $116. It represents the 1.236 Fib extension level of the last move from the $124 low to $159 high. On the upside, the price is likely to face resistance near the $132 level, above which it could test $140.

Looking at the chart, ETH price clearly trimmed gains sharply from $159-160. It seems like buyers gave up around $160 and sellers took control. Therefore, there could be another push lower to fill orders near $116 or even $108.

Hourly MACD The MACD is back in the bearish zone.

Hourly RSI The RSI moved sharply below the 50 level.

Major Support Level $124

Major Resistance Level $140

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Ethereum Price Analysis: ETH Corrects Sharply, Can It Hold ...

Ethereum (ETH) and NEO are two major cryptocurrency platforms that allow developers to build and deploy automated business logic via smart contracts and enterprise-level decentralized applications (dApps). Both these platforms have been implemented using blockchain technology and can be used to launch initial coin offerings (ICOs).

In this introductory article, we will go over briefly when and by whom both the Ethereum and NEO projects were launched; the type of network consensus mechanism and tokens each of them use; the different types of smart contract development environments they provide; and other details regarding their network management. In future posts on this topic, readers can expect to learn more about how both NEO and Ethereum plan to scale their networks and the business and regulatory activities associated with both projects.

Proposed in late 2013 by Russian-Canadian programmer and writer, Vitalik Buterin, Ethereum is an open-source, public blockchain network which provides a decentralized virtual machine (EVM) that is used to execute scripts on its network of public nodes.

Meanwhile, the NEO project was initially launched by Shanghai University graduate and developer Erik Zhang and self-taught computer programmer, Da Hongfei as AntShares in 2014, before rebranding in June 2017 to its current name. NEO, like Ethereum, is also open-source and computationally universal or in other words, Turing Complete.

What this means is that both NEOs and Ethereums instruction sets are expressive enough to be considered in the same category as higher-level programming languages (such as C, C#, Java). Ethereum developers are able to program smart contracts using Solidity (a language that is somewhat similar to C and JavaScript), LLL (a functional programming language similar to LISP), and two deprecated languages: Serpent (similar to Python) and Mutan (based on the Go language designed by Googles engineers).

NEO, on the other hand, supports more commonly used languages including Java, Go, C#, Python, and Javascript. The NEO blockchain network uses a special version of Docker (a software program that creates a virtual instance of an operating system) called NeoVM that compiles computer code which then runs in a secure executable environment.

NEO uses the delegated Byzantine Fault Tolerant (dBFT) consensus mechanism which its developers claim is an improved version of proof-of-stake (PoS). At present, Ethereum is using the proof-of-work (PoW) consensus algorithm, however, the platforms development team plans to eventually shift to PoS as part of the ongoing scaling efforts for the Ethereum network

Proponents of the dBFT algorithm argue that its a superior consensus protocol because it is hard fork proof. Moreover, dBFTs advocates claim that it provides better finality (of transactions), which means that once a set of transfers have been confirmed, their associated block cannot be split. Therefore, all transactions processed on NEOs network cannot be rolled back.

Currently, the Ethereum network is arguably more prone to hard forks, with one occurring after the DAO attack. The DAO, which stands for Distributed Autonomous Organization (DAO), was created in 2016 by Ethereums developers and it was meant to be a decentralized venture capital fund for crypto-related projects. During the DAOs creation period, it raised an unexpected 12.7 million Ether, an amount worth $250 million at that time. In June 2016, a hacker discovered a vulnerability in the DAOs codebase, which allowed him to steal about 3.6 million ETH (approximately $70 million) from the DAO account.

Because of this incident, the Ethereum community was split into two groups: one wanting to hard fork the original Ethereum chain, which has now resulted in what we refer to as Ethereum (ETH), and the other network is called Ethereum Classic (ETC). The ETC chain exists today because certain members of the Ethereum community are seemingly more firm in their belief of the principle that blockchains must be immutable. This, they claim, is why they chose to stick to the same version of the Ethereum chain even after its state was said to be corrupted by the DAO attack.

Transactions on the NEO network can be conducted by using two different tokens: NEO and GAS. The maximum circulating supply of these tokens has been fixed at 100 million each. Owning indivisible NEO tokens is equivalent to what may be considered shares in traditional markets, and their holders are entitled to voting rights.

So, those who have a stake in NEO may vote on key decisions regarding the platforms ongoing development. The blockchain-based crypto networks other token, GAS, is distributed as a type of reward (or dividends) to NEO investors.

Ethereums divisible (up to 18 decimal places) native token, Ether (ETH), is used to conduct transactions on its blockchain-based network. When the Ethereum mainnet went live in late July 2015, 72 million Ether tokens had been premined which accounts for roughly 70% of total ETH in circulation, as over 28 million ETH have been created since the platforms launch. The relatively large number of ETH that has been issued has raised some concerns about whether the token will be sufficiently scarce to preserve long-term value.

Notably, the term or word Gas is also used on the Ethereum network but refers to an entirely different process (compared to NEO). Gas on Ethereum serves as an internal transaction pricing mechanism, which is used to help reduce spam on the blockchain and also to allocate resources to the networks nodes.

One of the main things that sets NEO apart from many other blockchain networks is that it focuses on complying with regulations. Although both Ethereum and NEO allow users to issue digital assets, the latter requires its network participants (individuals or organizations) to verify their identities. After NEO network users have been verified, they are assigned a unique digital identity.

In order for parties to conduct transactions on NEOs network, their identities must first be properly verified. Moreover, nodes looking to validate transactions, or engage in other activities such as bookkeeping or accounting on NEOs blockchain must also pass an identity check.

As mentioned, in future posts on Ethereum vs NEO, we will carefully examine the scaling and ongoing development efforts of both platforms. We will also look into the businesses that are associated with both projects, and challenges each blockchain network is currently facing.

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Part 1: Ethereum vs NEO Which blockchain will provide ...

Bitcoin, Bitcoin Cash, Ethereum, Ripple: Prices, Charts and Analysis

Last weeks crypto rally continues going into the end of the year with the market awash with double-digit gains on heavy volume. The market has turned from being heavily oversold to now being overbought in the short-term but buyers continue to push the market higher across the board. Trading volume has doubled to around USD 25 billion/day, a multi-month high, lending the rally credibility. The latest rally has had no particular trigger, although most coins were trading in heavily oversold territory, while the latest sell-off in the global equity space may have added some shine to cryptomarket space.

While this Sanata rally will help holders, the market still remains in a long-term downtrend with most cryptos down by 85% or more this year from Januarys peaks. Any long-term rally will be driven by fundamental changes via regulaton or mass adoption of the underlying blockchain technology and not just by traders fear of missing out (FOMO).

Bitcoin, Ethereum, Ripple Prices Surge After Hitting Massively Oversold Conditions

If you are interested in trading the cryptocurrency market, we have produced aDay Trading Guide to Bitcoin and Other Cryptocurrenciesto help you better understand this highly volatile asset class.

After trading in hevaily oversold territory, Ethereum has soared higher and is changing hands at levels last seen five weeks ago. The coin is now targetting the $167 - $187 level which guards the August 14 low/September 21 high at $250. The RSI indicator does show ETH as heavily overbought, confirming the IG Retail Indicator which shows that 91% of investors are net-long of Ethereum and have increased their net-longs further over the last week. This gives us a strong bearish contrarian signal.

DailyFX analyst and Elliot Wave expert Jeremy Wagner highlighted the potential rally in Ethereum and Ripple in one of his regular webinars recently.

Investors remain net-long cryptocurrencies but recent changes give us a mixed trading bias across the space with some cryptos showing bullish contrarian readings while other remian negative. You can sign up to the IG Client Sentiment Indicator for free to get updated positioning data.

Cryptocurrency Trader Resources Free Practice Trading Accounts, Guides, Sentiment Indicators and Webinars

If you are interested in trading Bitcoin, Bitcoin Cash, Ethereum, Litecoin or Ripple we can help you begin your journey. We have an Introduction to Bitcoin Trading Guide along with a Free Demo Account so you can practice trading this volatile asset class.

Whats your opinion on the latest cryptocurrency rally? Share your thoughts and ideas with us using the comments section at the end of the article or you can contact me on Twitter @nickcawley1 or via email at nicholas.cawley@ig.com.

--- Written by Nick Cawley, Analyst.

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Bitcoin, Ethereum, Ripple Prices Surge Higher; FOMO Santa Rally?

Joseph Lubin, co-founder of major cryptocurrency Ethereum (ETH), declared that he is calling the cryptobottom of 2018 in a tweet Dec. 21.

According to Lubin, the crypto markets bottom is marked by an epic amount of fear, uncertainty, and doubt, specifically from industry media and social commentators, which he refers to as our friends in the 4th and crypto-5th estates.

Continuing in a Twitter thread, the founder of Ethereum blockchain-focused software firm ConsenSys then evidently addressed his firms recently reported major layoffs:

ConsenSys remains healthy and is engaging in a rebalancing of priorities and activities which started about nine months ago.

He stated that Consensys continues investing in projects in its role as a blockchain tech incubator and venture firm and hiring for internal projects that remain core to our forward looking-business.

In the same thread, Lubin complained about an epic amount of conjecture and preemptive paranoia concerning situations journalists and bloggers don't have real data for, actual insight into, or understanding of.

Concluding, Lubin reiterated his optimism about the future of ConsenSys and Ethereum, stating:

The sky is not falling. From my perspective the future looks very bright. [...] Peaking [sic] into 2019, if you could see the landscape through my eyes, you'd have to wear shades.

Reports surfaced this week citing sources familiar with the matter that ConsenSys is spinning out startups it previously backed, some of them without financial support. The sources reported that the number of employees to be laid off could be anywhere between 50 and 60 percent of ConsenSys 1,200 person workforce.

This past week, Cointelegraph reported that in comparison to more significant job cuts in various industries globally, the current slump in the cryptocurrency markets and ensuring job cuts in associated companies seem relatively benign.

In September, Ethereums other co-founder Vitalik Buterin had pointed out that there is no chance that the cryptocurrency and blockchain space will see 1,000-times growth again.

View original post here:

Ethereum Co-Founder Calls the Cryptobottom of 2018 ...

Key Highlights

Ethereum price is struggling to recover higher against the US Dollar and bitcoin. ETH/USD could start a solid upward move if there is a break above $90.

There was a decent bullish reaction from the $80 support in ETH price against the US Dollar. The ETH/USD pair climbed above the $84, $85 and $86 resistance levels. There was even a spiked above $86 and the 100 hourly simple moving average. However, buyers failed to hold gains and the price retreated from the $88 resistance area. It declined below the 50% Fib retracement level of the last wave from the $80 low to $88 high.

Moreover, the price traded below the $85 support and the 100 hourly SMA. At the moment, the price is holding the $83 support. Besides, the 76.4% Fib retracement level of the last wave from the $80 low to $88 high is at $82.50. A break below the $82 level will most likely push the price back towards the $80 level. On the upside, an initial resistance is near $86 and the 100 hourly SMA. Additionally, there is a major bearish trend line formed with resistance at $87 on the hourly chart of ETH/USD.

Looking at the chart, ETH price is facing a solid barrier near the $86, $87, $88 and $90 resistance levels. Therefore, a successful close above $88-90 may perhaps clear the path for more gains towards $100 in the near term.

Hourly MACD The MACD moved back in the bearish zone.

Hourly RSI The RSI declined below the 50 level and it is currently showing bearish signs.

Major Support Level $80

Major Resistance Level $88

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Ethereum Price Analysis: ETH Could Turn Bullish Above $90 ...

Key Highlights

Ethereum price declined further below key supports against the US Dollar and bitcoin. ETH/USD could accelerate losses if there is a break below $80.

Recently, there was a minor upside move above $88 and $90 in ETH price against the US Dollar. The ETH/USD pair tested the $90 resistance area and faced a solid selling interest. As a result, there was a bearish reaction and the price declined below the $87 and $85 support levels. There was also a close below the $87 level and the 100 hourly simple moving average.

A new intraday low was formed at $82.99 and it seems like the price may decline further. It is currently correcting higher above $85. An initial resistance is the 50% Fib retracement level of the recent decline from the $90 high to $83 low. Moreover, there is a new connecting bearish trend line formed with resistance at $89 on the hourly chart of ETH/USD. An intermediate resistance is the 61.8% Fib retracement level of the recent decline from the $90 high to $83 low. It seems like there is a cluster of resistances formed between $88 and $90. Therefore, as long as the price is below $90, it may continue to decline.

Looking at the chart, ETH price could even break the $83 support level. The next key support is at $80, below which the price will most likely accelerate towards the $75 level.

Hourly MACD The MACD is now back in the bearish zone.

Hourly RSI The RSI is currently well below the 50 level and heading towards 30.

Major Support Level $80

Major Resistance Level $90

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Ethereum Price Analysis: ETH Could Extend Losses Below $80 ...

Ethereum Gas is the lifeblood of the Ethereum ecosystem, there is no other way of putting that. Gas is a unit that measures the amount of computational effort that it will take to execute certain operations.

Every single operation that takes part in Ethereum, be it a simple transaction, or a smart contract, or even an ICO takes some amount of gas. Gas is what is used to calculate the amount of fees that need to be paid to the network in order to execute an operation.

In this guide, we are going to understand how gas works. But before we do so, there are several concepts that we must learn. So, without further ado, lets begin our deep dive on Ethereum Gas.

Bitcoin was created because everyone was asking the same questions.

Satoshi Nakamoto answered these questions when he created bitcoin. We finally had a decentralized monetary system which can transfer money from one person to another.

However, there was a problem with bitcoin which is a problem with all first generation blockchains. They only allowed for monetary transactions, there was no way to add conditions to those transactions.

Alice can send Bob 5 BTC, but she couldnt impose conditions on those transactions. Eg. She couldnt tell Bob that he will get the money only if he performed certain tasks.

These conditions would need extremely complicated scripting. Something was required to make the process more seamless.

And that something was a smart contract.

Smart contracts help you exchange money, property, shares, or anything of value in a transparent, conflict-free way while avoiding the services of a middleman.

Vitalik Buterins Ethereum is easily the stalwart of this generation. They showed the world how the blockchain can evolve from a simple payment mechanism to something far more meaningful and powerful.

So, what are these smart contracts and whats the big deal?

Smart contracts are automated contracts. They are self-executing with specific instructions written in its code which get executed when certain conditions are made.

You can learn more about smart contracts in our in-depth guide here.

Smart contracts are how things get done in the Ethereum ecosystem. When someone wants to get a particular task done in Ethereum they initiate a smart contract with one or more people.

Smart contracts are a series of instructions, written using the programming language solidity, which works on the basis of the IFTTT logic aka the IF-THIS-THEN-THAT logic. Basically, if the first set of instructions are done then execute the next function and after that the next and keep on repeating until you reach the end of the contract.

The best way to understand that is by imagining a vending machine. Each and every step that you take acts like a trigger for the next step to execute itself. It is kinda like the domino effect. So, lets examine the steps that you will take while interacting with the vending machine:

Now look at all those steps and think about it. Will any of the steps work if the previous one wasnt executed? Each and every one of those steps is directly related to the previous step. There is one more factor to think about, and it is an integral part of smart contracts. You see, in your entire interaction with the vending machine, you (the requestor) were solely working with the machine (the provider). There were absolutely no third parties involved.

So, now how would this transaction have looked like if it happened in the Ethereum network?

Suppose you just bought something from a vending machine in the Ethereum network, how will the steps look like then?

Every transaction that you do through the smart contracts will get recorded and updated by the network. What this does is that it keeps everyone involved with the contract accountable for their actions. It takes away human malice by making every action taken visible to the entire network

Before we understand what the Ethereum Virtual Machine (EVM) is, we must understand why a Virtual Machine is needed.

So lets go back to smart contracts.

What are the desirable properties that we want in our smart contract?

Anything that runs on a blockchain needs to be immutable and must have the ability to run through multiple nodes without compromising on its integrity. As a result of which, smart contract functionality needs to be three things:

A program is deterministic if it gives the same output to a given input every single time. Eg. If 3+1 = 4 then 3+1 will ALWAYS be 4 (assuming the same base). So when a program gives the same output to the same set of inputs in different computers, the program is called deterministic.

There are various moments when a program can act in an un-deterministic manner:

In mathematical logic, we have an error called halting problem. Basically, it states that there is an inability to know whether or not a given program can execute its function in a time limit. In 1936, Alan Turing deduced, using Cantors Diagonal Problem, that there is no way to know whether a given program can finish in a time limit or not.

This is obviously a problem with smart contracts because, contracts by definition, must be capable of termination in a given time limit. There are some measures taken to ensure that there is a way to externally kill the contract and to not enter into an endless loop which will drain resources:

In a blockchain, anyone and everyone can upload a smart contract. However, because of this the contracts may, knowingly and unknowingly contain virus and bugs.

If the contract is not isolated, this may hamper the whole system. Hence, it is critical for a contract to be kept isolated in a sandbox to save the entire ecosystem from any negative effects.

Now that we have seen these features, it is important to know how they are executed. Usually, the smart contracts are run using one of the two systems:

Lets compare these two and determine which makes for a better ecosystem. For simplicitys sake, we are going to compare Ethereum (Virtual Machine) to Fabric (Docker).

So, as can be seen, Virtual Machines provide better Deterministic, terminable and isolated environment for the Smart contracts. However, dockers have one distinct advantage. They provide coding language flexibility while in a Virtual Machine (VM) like Ethereum, one needs to learn a whole new language (solidity) to create smart contracts.

The EVM is the virtual machine in which all the smart contracts function in Ethereum. It is a simple yet powerful Turing Complete 256-bit virtual machine. Turing Complete means that given the resources and memory, any program executed in the EVM can solve any problem.

As explained in the introduction, Gas is a unit that measures the amount of computational effort that it will take to execute certain operations.

Note: Before we continue, huge shoutout to Joseph Chow for his amazing presentation on Ethereum gas.

Most of the smart contracts that run in the EVM are coded using Solidity (Ethereum is planning to move on to Viper from Solidity in the future). Each and every line of code in Solidity requires a certain amount of gas to be executed.

The image below has been taken from the Ethereum Yellowpaper and can be used to gain a rough idea of how much specific instructions cost gas-wise. Every transaction requires at least 21,000 gas according to this table:

Image Courtesy: Ethereum Yellow Paper

To better understand how gas works in Ethereum, lets use an analogy. Suppose you are going on a road trip. Before you do so you go through these steps:

Now, lets draw parallels with Ethereum.

Driving the car is the operation that you want to execute, like executing a function of a smart contract.

The gas is well.gas.

The gas station is your miner.

The money that you paid them is the miner fees.

All the operations that users want to execute in ethereum must provide gas for the following:

Now that we have covered the bare basics, you maybe asking the following question.

The answer is simpleincentivization.

Like any proof-of-work peer-to-peer system, Ethereum is heavily dependent on the hashrate of their miners. More the miners, more the hashrate, more secure and fast the system.

In order to attract more miners into the system, they need to make the system as profitable and alluring as possible for the miners. In Ethereum, there are two ways that miners can earn money:

Lets explore the second point.

The miners are responsible for putting transactions inside their blocks. In order to do so, they must use their computational power to validate smart contracts. The gas system allows them to charge a certain fee for doing so.

This fee is known as the miners fee and it helps incentivize them enough to take part actively in the ecosystem.

So, how much fees can they charge? Before we can calculate that lets understand how we measure gas.

Gas is simply measured in units of gas. A transaction sent to the Ethereum network costs some discrete amount of gas (e.g. 100 gas) depending on how many EVM instructions need to be executed.

More here:

What is Ethereum Gas: Step-By-Step Guide - Blockgeeks

Go Ethereum

Official golang implementation of the Ethereum protocol.

Automated builds are available for stable releases and the unstable master branch.Binary archives are published at https://geth.ethereum.org/downloads/.

For prerequisites and detailed build instructions please read theInstallation Instructionson the wiki.

Building geth requires both a Go (version 1.9 or later) and a C compiler.You can install them using your favourite package manager.Once the dependencies are installed, run

or, to build the full suite of utilities:

The go-ethereum project comes with several wrappers/executables found in the cmd directory.

Going through all the possible command line flags is out of scope here (please consult ourCLI Wiki page), but we'veenumerated a few common parameter combos to get you up to speed quickly on how you can run yourown Geth instance.

By far the most common scenario is people wanting to simply interact with the Ethereum network:create accounts; transfer funds; deploy and interact with contracts. For this particular use-casethe user doesn't care about years-old historical data, so we can fast-sync quickly to the currentstate of the network. To do so:

This command will:

Transitioning towards developers, if you'd like to play around with creating Ethereum contracts, youalmost certainly would like to do that without any real money involved until you get the hang of theentire system. In other words, instead of attaching to the main network, you want to join the testnetwork with your node, which is fully equivalent to the main network, but with play-Ether only.

The console subcommand have the exact same meaning as above and they are equally useful on thetestnet too. Please see above for their explanations if you've skipped to here.

Specifying the --testnet flag however will reconfigure your Geth instance a bit:

Note: Although there are some internal protective measures to prevent transactions from crossingover between the main network and test network, you should make sure to always use separate accountsfor play-money and real-money. Unless you manually move accounts, Geth will by default correctlyseparate the two networks and will not make any accounts available between them.

The above test network is a cross client one based on the ethash proof-of-work consensus algorithm. As such, it has certain extra overhead and is more susceptible to reorganization attacks due to the network's low difficulty / security. Go Ethereum also supports connecting to a proof-of-authority based test network called Rinkeby (operated by members of the community). This network is lighter, more secure, but is only supported by go-ethereum.

As an alternative to passing the numerous flags to the geth binary, you can also pass a configuration file via:

To get an idea how the file should look like you can use the dumpconfig subcommand to export your existing configuration:

Note: This works only with geth v1.6.0 and above.

One of the quickest ways to get Ethereum up and running on your machine is by using Docker:

This will start geth in fast-sync mode with a DB memory allowance of 1GB just as the above command does. It will also create a persistent volume in your home directory for saving your blockchain as well as map the default ports. There is also an alpine tag available for a slim version of the image.

Do not forget --rpcaddr 0.0.0.0, if you want to access RPC from other containers and/or hosts. By default, geth binds to the local interface and RPC endpoints is not accessible from the outside.

As a developer, sooner rather than later you'll want to start interacting with Geth and the Ethereumnetwork via your own programs and not manually through the console. To aid this, Geth has built-insupport for a JSON-RPC based APIs (standard APIs andGeth specific APIs). These can beexposed via HTTP, WebSockets and IPC (unix sockets on unix based platforms, and named pipes on Windows).

The IPC interface is enabled by default and exposes all the APIs supported by Geth, whereas the HTTPand WS interfaces need to manually be enabled and only expose a subset of APIs due to security reasons.These can be turned on/off and configured as you'd expect.

HTTP based JSON-RPC API options:

You'll need to use your own programming environments' capabilities (libraries, tools, etc) to connectvia HTTP, WS or IPC to a Geth node configured with the above flags and you'll need to speak JSON-RPCon all transports. You can reuse the same connection for multiple requests!

Note: Please understand the security implications of opening up an HTTP/WS based transport beforedoing so! Hackers on the internet are actively trying to subvert Ethereum nodes with exposed APIs!Further, all browser tabs can access locally running webservers, so malicious webpages could try tosubvert locally available APIs!

Maintaining your own private network is more involved as a lot of configurations taken for granted inthe official networks need to be manually set up.

First, you'll need to create the genesis state of your networks, which all nodes need to be aware ofand agree upon. This consists of a small JSON file (e.g. call it genesis.json):

The above fields should be fine for most purposes, although we'd recommend changing the nonce tosome random value so you prevent unknown remote nodes from being able to connect to you. If you'dlike to pre-fund some accounts for easier testing, you can populate the alloc field with accountconfigs:

With the genesis state defined in the above JSON file, you'll need to initialize every Geth nodewith it prior to starting it up to ensure all blockchain parameters are correctly set:

With all nodes that you want to run initialized to the desired genesis state, you'll need to start abootstrap node that others can use to find each other in your network and/or over the internet. Theclean way is to configure and run a dedicated bootnode:

With the bootnode online, it will display an enode URLthat other nodes can use to connect to it and exchange peer information. Make sure to replace thedisplayed IP address information (most probably [::]) with your externally accessible IP to get theactual enode URL.

Note: You could also use a full fledged Geth node as a bootnode, but it's the less recommended way.

With the bootnode operational and externally reachable (you can try telnet to ensureit's indeed reachable), start every subsequent Geth node pointed to the bootnode for peer discoveryvia the --bootnodes flag. It will probably also be desirable to keep the data directory of yourprivate network separated, so do also specify a custom --datadir flag.

Note: Since your network will be completely cut off from the main and test networks, you'll alsoneed to configure a miner to process transactions and create new blocks for you.

Mining on the public Ethereum network is a complex task as it's only feasible using GPUs, requiringan OpenCL or CUDA enabled ethminer instance. For information on such a setup, please consult theEtherMining subreddit and the Genoil minerrepository.

In a private network setting however, a single CPU miner instance is more than enough for practicalpurposes as it can produce a stable stream of blocks at the correct intervals without needing heavyresources (consider running on a single thread, no need for multiple ones either). To start a Gethinstance for mining, run it with all your usual flags, extended by:

Which will start mining blocks and transactions on a single CPU thread, crediting all proceedings tothe account specified by --etherbase. You can further tune the mining by changing the default gaslimit blocks converge to (--targetgaslimit) and the price transactions are accepted at (--gasprice).

Thank you for considering to help out with the source code! We welcome contributions fromanyone on the internet, and are grateful for even the smallest of fixes!

If you'd like to contribute to go-ethereum, please fork, fix, commit and send a pull requestfor the maintainers to review and merge into the main code base. If you wish to submit morecomplex changes though, please check up with the core devs first on our gitter channelto ensure those changes are in line with the general philosophy of the project and/or get someearly feedback which can make both your efforts much lighter as well as our review and mergeprocedures quick and simple.

Please make sure your contributions adhere to our coding guidelines:

Please see the Developers' Guidefor more details on configuring your environment, managing project dependencies and testing procedures.

The go-ethereum library (i.e. all code outside of the cmd directory) is licensed under theGNU Lesser General Public License v3.0, alsoincluded in our repository in the COPYING.LESSER file.

The go-ethereum binaries (i.e. all code inside of the cmd directory) is licensed under theGNU General Public License v3.0, also includedin our repository in the COPYING file.

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Blockchain 101 Bitcoin What is Bitcoin? How Can I Buy Bitcoin? How Does Bitcoin Mining Work? How Do Bitcoin Transactions Work? How Can I Sell Bitcoin? Blockchain What is Blockchain Technology? How Does Blockchain Technology Work? What Can a Blockchain Do? What is a Distributed Ledger? Why Use a Blockchain? Ethereum What is Ethereum? How Do I Use Ethereum? How Does Ethereum Work? What is a Decentralized Application? How Do Smart Contracts Work? Technology Bitcoin Ethereum Other Public Protocols Distributed Ledger Technology Reviews Markets Investments Venture Capital Initial Coin Offerings Markets Bitcoin Ethereum Exchanges Other Public Protocols Business Use Cases & Verticals Payments Capital Markets Banking Insurance Supply Chain Security Identity Healthcare Energy Internet of Things Merchants Startups Legal Regulation Central Banking Tax Crime US & Canada Asia-Pacific Europe Data & Research Crypto-Economics Explorer Bitcoin Price Index Ethereum Price Data Analysis Bitcoin Calculator Blockchain Venture Capital ICO Tracker ICO Calendar About the BPI Bitcoin Legality Map Bitcoin Price Ticker Widget CoinDesk API Industry Research State of Blockchain Q2 2018 State of Blockchain Q1 2018 State of Blockchain Q4 2017 State of Blockchain Q3 2017 State of Blockchain Q2 2017 State of Blockchain Q1 2017 Consensus Consensus 2019 Consensus: Invest 2018 Consensus: Singapore 2018 Consensus 2018 Invest 2017 Consensus 2017 Construct 2017 Consensus 2016 Event Schedule Webinars Search Top nav Blockchain 101 Bitcoin What is Bitcoin? How Can I Buy Bitcoin? How Does Bitcoin Mining Work? How Do Bitcoin Transactions Work? How Can I Sell Bitcoin? Blockchain What is Blockchain Technology? How Does Blockchain Technology Work? What Can a Blockchain Do? What is a Distributed Ledger? Why Use a Blockchain? Ethereum What is Ethereum? How Do I Use Ethereum? How Does Ethereum Work? What is a Decentralized Application? How Do Smart Contracts Work? Technology Bitcoin Ethereum Other Public Protocols Distributed Ledger Technology Reviews Markets Investments Venture Capital Initial Coin Offerings Markets Bitcoin Ethereum Exchanges Other Public Protocols Business Use Cases & Verticals Payments Capital Markets Banking Insurance Supply Chain Security Identity Healthcare Energy Internet of Things Merchants Startups Legal Regulation Central Banking Tax Crime US & Canada Asia-Pacific Europe Data & Research Data Bitcoin Price Index Ethereum Price Data Analysis Bitcoin Calculator Blockchain Venture Capital ICO Tracker ICO Calendar About the BPI Bitcoin Legality Map Bitcoin Price Ticker Widget CoinDesk API Industry Research State of Blockchain Q2 2018 State of Blockchain Q1 2018 State of Blockchain Q4 2017 State of Blockchain Q3 2017 State of Blockchain Q2 2017 State of Blockchain Q1 2017 Consensus Consensus: Invest 2018 Consensus: Singapore 2018 Consensus 2018 Invest 2017 Consensus 2017 Construct 2017 Consensus 2016 Event Schedule Webinars Announcing: CoinDesk's Crypto-Economics ExplorerRelated ArticlesLubin Wont Rule Out Layoffs Amid Refocusing at ConsenSysVitalik Buterin Awarded Honorary Doctorate from University of BaselPricing NewsSEC Again Delays Decision on VanEck-SolidX Bitcoin ETFThe Race Is On to Replace Ethereums Most Centralized LayerR3s New Corda App Supports Payments in XRP CryptocurrencyMorgan Creek Is Betting $1 Million That Crypto Can Beat the S&PConsenSys Confirms Layoffs, Projecting 13% of Staff at Startups to Be CutWhen Bitcoins Price Breaks Down, It Follows a PatternUS Government Interested in Tracking Privacy Coins, New Document ShowsCapitulation? Bitcoins Price Dropped 36% in NovemberFeatured NewsWATCH: SEC Chairman Jay Claytons Full Consensus: Invest InterviewBelow $4k: Bitcoins Price Drops to a 420-Day LowHash Power Favors Craig Wright Camp in Looming Bitcoin Cash ForkSexual Assault Survivor Uses Crypto to Crowdfund Anonymously About Press Events Editorial policy Comments policy Terms & Conditions Privacy policy Jobs Advertising Newsletters

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Ethererum Crypto-Economics Index Real-time Price Charts and ...

DEFINITION of Ethereum

Launched in 2015, Ethereum is a decentralized software platform that enables SmartContracts and Distributed Applications (Apps) to be built and run without any downtime, fraud, control or interference from a third party. The platform is also the basis for its own virtual currency, Ether. Ethereum is not just a platform but also a programming language (Turing complete) running on a blockchain, helping developers to build and publish distributed applications. The potential applications of Ethereum are wide ranging.

The applications on Ethereum are run on its platform-specific cryptographic token, ether. During 2014, Ethereum had launched a pre-sale for ether which had received an overwhelming response. Ether is like a vehicle for moving around on the Ethereum platform, and is sought by mostly developers looking to develop and run applications inside Ethereum. Ether is used broadly for two purposes, it is traded as a digital currency exchange like other cryptocurrencies and is used inside Ethereum to run applications and even to monetize work. The current market cap of ether (ETH) is now more than Ripple and Litecoin although its far behind bitcoin (BTC).

According to Ethereum, it can be used to codify, decentralize, secure and trade just about anything. One of the big projects around Ethereum is Microsofts partnership with ConsenSys which offers Ethereum Blockchain as a Service (EBaaS) on Microsoft Azure so Enterprise clients and developers can have a single click cloud based blockchain developer environment.

In 2016 Ethereum was split into two separate blockchains - Ethereum, and Ethereum Classic, after a malicious actor stole more than $50 million worth of funds which had been raised on The DAO, a set of smart contracts originating from Ethereum's software platform. The new Ethereum was a hard fork from the original software intended to protect against further malware attacks. As of July 2018 Ethereum was the second-largest virtual currency on the market, behind only Bitcoin. It is much faster to acquire ether currency than bitcoin (about 14 or 15 seconds to bitcoin's near-uniform 10 minutes) and there are far more ether units in circulation than there are bitcoin.

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Ethereum Definition | Investopedia

Since Bitcoin (BTC) began to falter in recent weeks, with the asset free-falling below $6,000, investors have whipped out their magnifying glasses, doing their utmost to discern what catalyzed the sell-off. Although many pointed fingers at the contentious Bitcoin Cash debacle, the U.S. Securities and Exchange Commissions renewed crackdown on tokens deemed digital securities, and the lack of development in the Bitcoin ETF launch cycle, a novel theorized catalyst recently arose.

For those who arent in the loop, this proposed catalyst is that whales and former HODLers have sought to liquidate their cryptocurrency holdings, putting immense selling pressure on assets, such as Ethereum (ETH) and BTC.However, extensive research completed by Diar, a leading crypto-centric data analytics unit, notes that contrary to this popular belief, reports of a whale sell-off couldnt be further from the truth.

According to Diars most recent installment of its weekly analytics report, whales in the Ethereum waters have continued to accumulate, likely enticed by the bargain deals seen in the cryptocurrency market.

According to TokenAnalyst-sourced data routed through Diar, since January 2018, the amount of ETH that Ethereums top 500 wallets have held has risen by 80%. To put this growth figure into perspective, on January 1st, whales kept 11 million Ether under lock and key, as of November 30th, the same group of users holds 20 million.

This jaw-dropping sum amounts to nearly 20% of all Ether currently circulating, and $2.2 billion in U.S. dollar values, clearly indicating that whales are heavily betting on a market reversal.

Diar also noted that whales have presumably been bolstering their Ethereum wallets also due to a resurgence in SEC-backed regulatory action, coupled with a change in sentiment regarding ICO-funded projects. In a testament to the aforementioned point, the American governmental agency recently penalizedAirFox and Paragon, while also fining the founder of EtherDelta for heading an unlicensed securitiesplatform. These two regulatory actions alone instilled fear in the hearts of altcoiners, catalyzing the death of a multitude of small-caps as traders rushed to sell their tokens for ETH.

Regardless of the exact stimulus behind this bout of accumulation, Diar closed off its report by noting that while the fiat value of whales holdings has fallen by ~90%, Q4s ETH balance growth is up 270% over Q3, a bullish sign in the eyes of optimists.

Not only have whales been accumulating Ether en-masse, but BTC as well, highlighting a trend of accumulation in 2018s bear market. As reported by NewsBTC previously, crypto analyst FlibFlib astutely drew attention tothe Bitcoin Networks unspent transaction outputs (UTXO) set size as a potential indicator in mid-November. The analyst explained that as UTXO increases, accumulation is occurring, but as the same indicator decreases, investors are presumably selling their BTC in an act of distribution.

Keeping this in mind, and considering that UTXO has been on a tear since July, even amid Novembers 40% downturn, many believe that bulls continue to scale into long Bitcoin positions. However, the analyst noted that gradual accumulation wont be enough to propel BTC to the moon, as it were. The analystclaimed that the unspent output indicator will need to see a significant uptick, coupled with a slight increase in Bitcoin price, to indicate that the bear market has finally run its course.

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Report: Whales Accumulate Ethereum (ETH) En-Masse Amid Bear ...

Mt Gox's Bitcoin Creditors Have 4 Days to Submit Rehabilitation Claims

Oct 18, 2018 at 15:00 | Nikhilesh De

Clients of the defunct crypto exchange Mt. Gox must submit claims for trapped funds by Oct. 22.

Oct 18, 2018 at 07:00 | Leigh Cuen

Indian regulators' clampdown on crypto firms is forcing exchange Unocoin to experiment with ATMs and stablecoins to continue receiving fiat deposits.

Oct 17, 2018 at 14:00 | Nikhilesh De

Binance, the biggest cryptocurrency exchange by trading volume, is rolling out new software to aid detection of potentially illicit transactions.

Oct 17, 2018 at 04:00 | Sam Ouimet

It's possible to know what cryptocurrencies are going to be listed on Coinbase before it goes public.

Oct 16, 2018 at 20:40 | Nikhilesh De

Retail investors can now trade the 0x Protocol on Coinbase.com, as well as its Android and iOS apps.

Oct 16, 2018 at 13:40 | Daniel Palmer

Cryptocurrency exchange Bitfinex says it has rolled out a new process for depositing fiat currency after it halted the service last week.

Oct 16, 2018 at 12:59 | Brady Dale

Decred is handing control of its $21 million treasury and all aspects of the protocol, from consensus through staffing, over to token holders.

Oct 16, 2018 at 11:59 | Brady Dale

Imagine the liquidity of every crypto exchange, but in one giant pool. That's what Paradigm aims to build, and investors are on board.

Oct 16, 2018 at 10:00 | Wolfie Zhao

Messaging giant LINE's Bitbox exchange has made its LINK token available for trading against bitcoin, ethereum and tether.

Oct 16, 2018 at 09:00 | Wolfie Zhao

The Huobi exchange has announced it will add support for four U.S. dollar-pegged cryptos, a day after OKEx did the same.

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Ethereum Price - CoinDesk

EthereumPrice.org - USD Price, Charts & History

$-5.5924 Hour Change

$209.4124 Hour High

$202.0624 Hour Low

$20.80B Market Cap

The price of Ethereum (ETH/USD) today is $202.62 USD with a total market cap of $20,799,002,019.

View the latest Ethereum price predictions sourced directly from the Augur marketplace. What does the crowd expect the price of Ethereum be in the future?

This guide takes a look at the investment case for Ethereum as well as the exchanges and platforms from which it can be bought.

Calculate the price of Ether in your own local currency using this simple tool with real-time price data.

Period

Change

Change (%)

High

Low

24h

$-5.59

-2.68%

$209.41

$202.06

1m

$-7.22

-3.44%

$254.57

$187.03

6m

$-312.66

-60.68%

$834.21

$167.72

1y

$-111.03

-35.40%

$1422.47

$167.72

5y

$201.27

14908.89%

$1422.47

$0.43

Year

USD

AUD

BTC

CAD

EUR

GBP

2016

749.47%

784.38%

280.62%

764.34%

808.13%

947.56%

2017

9087.98%

8813.52%

553.40%

8765.65%

8121.94%

8223.13%

2018

-72.67%

-72.26%

-42.04%

-71.79%

-72.41%

-71.71%

Ethereum is facing a new narrative of pessimism. What is currently happening on the blockchain that may warrant a price that goes above and beyond $1,000?

Ethereum's recent decision to drop the block reward (coin supply inflation) from 3 Ether to 2 Ether, and Cboe's announcement of an Ethereum futures market has done nothing to sway investor sentiment.

Ethereum has suffered a steep decline in value, dropping sharply from $731 3 months ago, to $258 at the time of writing - a fall of over 60%. Where does Ethereum go from here?

When we all stop talking about the price of Ethereum and start going back to what we were doing before, building stuff. Find out what's been going on at EthereumPrice.org here.

Given that the vast majority of my working life is spent in cryptocurrency, it would come as no surprise that yes - I'm bullish on the stuff. But I've been bullish longer than most - in fact it was in 2011 that I decided Bitcoin had a place in the future of payments [...]

The rest is here:

EthereumPrice.org - USD Price, Charts & History

Buy and Sell Ether With The Peer-to-Peer Ethereum Marketplace localethereum

You need to enable Javascript in your web browser settings to access localethereum.com's marketplace.

Localethereum is a place where you can find people to trade with these could be individuals like you on the other end of the market, or established businesses and brokers.

Buyers and sellers connect on localethereum to dodge the hassles of centralised exchanges. Over-the-counter trading is simple, quick, safe and private.

Check our step-by-step guide on how to buy ether.

000000000000030000007000000d0000400000000000000e0000FUNDED000000000000000000000000900000RELEASED00000PAID000000000000000000000000000000c000000LOCKED000000000000000007000400000000000000000000000000000000000000000000002RELEASED00e00FUNDED00000000020000000000000060000020000000000000000000PAID00070000000000000000000000000000000300000000000002000000000000001RELEASED0000000000000000000900000000600000000

Transfers of ether between buyers and sellers are escrowed using a decentralised Ethereum smart contract. Instead of trusting a central authority to hold and release funds, localethereum's escrow system is trust-less. We never take control of your ether.

In the event of a payment dispute, parties can authorise our team to resolve the trade. Learn more.

Messages between buyers and sellers are end-to-end encrypted using a mechanism inspired by the Signal protocol. Every conversation is protected by a unique secret key which self-destructs after completion.

We can only decipher message history if the secret key is volunteered to our team, for example during a payment dispute. Learn how it works.

In case you haven't heard, centralised exchanges have been the subject of hacks, thefts and grave errors since the first MtGox scandal in 2011. Over $1 billion worth of crypto has been reported stolen at the hands of exchanges. Check our exhaustive timeline of crypto-exchange catastrophes if you can't believe the scale of this snowballing trend.

We never take custody of your wallet, so users are immune to these catastrophes. The keys to your ether are kept encrypted in your browser at all times.

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Buy and Sell Ether With The Peer-to-Peer Ethereum ...

Key Highlights

Ethereum classic price is holding the positive bias against the US Dollar and Bitcoin. ETC/USD could slowly move towards the all-important $12.00 resistance.

After trading as low as $10.40, ETC price started an upward move against the US dollar. The ETC/USD pair settled above the $10.80 support area and formed an intermediate low at $10.78. Later, it traded above the $11.00 and $11.20 resistance levels. However, the price failed to clear the $11.55 resistance and declined towards the $11.00 level. Buyers appeared near $11.00 and pushed the price above the 50% Fib retracement level of the recent decline from the $11.57 high to $10.96 low.

However, it seems like the price is struggling to settle above the $10.40 level and the 100 hourly simple moving average. There is also a key bearish trend line formed with resistance at $11.35 on the hourly chart of the ETC/USD pair. Above the trend line, the 61.8% Fib retracement level of the recent decline from the $11.57 high to $10.96 low is at $11.34. Therefore, buyers need to clear the $11.35 resistance to gain momentum in the near term. Above this, the price is likely to break the $11.57 high. The next targets for buyers could be $11.80 and $12.00.

The chart suggests that ETC price is preparing for the next move above $11.35. On the flip side, if there is a downside break, the $11.00 and $10.80 supports are likely to prevent losses.

Hourly MACD The MACD for ETC/USD is gaining in the bullish zone.

Hourly RSI The RSI for ETC/USD is currently above the 55 level.

Major Support Level $10.80

Major Resistance Level $11.35

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Ethereum Classic Price Analysis: ETC/USD Could Revisit $12

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EthereumPrice.org - USD Price, Charts & History

$-12.1624 Hour Change

$229.6224 Hour High

$215.9024 Hour Low

$22.21B Market Cap

The price of Ethereum (ETH/USD) today is $217.07 USD with a total market cap of $22,214,210,510.

View the latest Ethereum price predictions sourced directly from the Augur marketplace. What does the crowd expect the price of Ethereum be in the future?

This guide takes a look at the investment case for Ethereum as well as the exchanges and platforms from which it can be bought.

Calculate the price of Ether in your own local currency using this simple tool with real-time price data.

Period

Change

Change (%)

High

Low

24h

$-12.16

-5.30%

$229.62

$215.90

1m

$-72.19

-24.96%

$292.21

$167.72

6m

$-181.92

-45.60%

$834.21

$167.72

1y

$-74.81

-25.63%

$1422.47

$167.72

5y

$215.72

15979.26%

$1422.47

$0.43

Year

USD

AUD

BTC

CAD

EUR

GBP

2016

749.47%

784.38%

280.62%

764.34%

808.13%

947.56%

2017

9087.98%

8813.52%

553.40%

8765.65%

8121.94%

8223.13%

2018

-70.72%

-69.99%

-36.96%

-69.42%

-70.59%

-69.69%

Ethereum is facing a new narrative of pessimism. What is currently happening on the blockchain that may warrant a price that goes above and beyond $1,000?

Ethereum's recent decision to drop the block reward (coin supply inflation) from 3 Ether to 2 Ether, and Cboe's announcement of an Ethereum futures market has done nothing to sway investor sentiment.

Ethereum has suffered a steep decline in value, dropping sharply from $731 3 months ago, to $258 at the time of writing - a fall of over 60%. Where does Ethereum go from here?

When we all stop talking about the price of Ethereum and start going back to what we were doing before, building stuff. Find out what's been going on at EthereumPrice.org here.

Given that the vast majority of my working life is spent in cryptocurrency, it would come as no surprise that yes - I'm bullish on the stuff. But I've been bullish longer than most - in fact it was in 2011 that I decided Bitcoin had a place in the future of payments [...]

Read this article:

EthereumPrice - Official Site

READ LATER - DOWNLOAD THIS POST AS PDF

As most crypto exchanges are having a hard time retaining business, BitMEX is posting record profits that are yet to be declared but will be highlighted below. Looking at the recent analysis of Coinbase, we find that the popular American exchange is having a hard time maintaining a customer base during a bear market. The exchange has experienced a plunge in the volume of 83% since the highs of December and January.

According to recent reports, Coinbases volume in July was around $3.9 Billion in trades as compared to $21 Billion back in January during the crypto bull run.

The only exchange that has partially survived the bear market from the above report is Binance. The exchanges numbers in July stood at $11.3 Billion in July and those of OKEx reaching levels of $2.9 Billion.We can blame the general decline in trade volume on regulatory uncertainty, constant FUD, ETF blues as well as a natural market decline after an impressive rally.

BitMEX was launched in 2014 but did not become popular in the crypto-verse up until around June this year, when traders realized they could make a killing shorting Bitcoin (BTC). The exchange offers perpetual contracts as well as futures contracts. The continuous contracts do not have an expiring date and have a funding rate that occurs every 8 hours. Futures contracts on the platform are settled at the contracts settlement price.

This, in turn, means you can short the digital assets of Bitcoin (BTC), Ethereum (ETH), XRP, Bitcoin Cash (BCH), Cardano (ADA), EOS, Litecoin (LTC) and Tron (TRX) no the platform. This then opens the floodgates for potential market manipulation from someone or an organization that knows what they are doing.

The terms and conditions for using BitMEX indicate that trading is prohibited in a few countries. One country stands out: the United States. Evidence of this can be seen in the terms and conditions for use whichstate that:

that trading access to or holding positions BitMEX is prohibited for any person that is located in or a resident of the United States of America, Qubec (Canada), Cuba, Crimea and Sevastopol, Iran, Syria, North Korea, Sudan, or any other jurisdiction where the services offered by BitMEX are restricted.

Could it be they are avoiding SEC scrutiny and the long arm of the American Law? Perhaps the financial instruments on BitMEX would not hold water with the SEC.

The exchange has most recently rented the most expensive offices in Hong Kong in a move that raises more questions as to how much in profits the exchange is making by offering the unique trading instruments on their platform. The exchange will occupy the 45th floor of theCheung Kong Center. Their average leasing expenses will add up to around $500k per month.

To add to the question as to how much the exchange is making in profits, Ben Delo, a co-founder of BitMEX, was recently been named Britains youngest Bitcoin Billionaire aged at just 34.

In the case of Binance, the exchange has stated that it is eyeing $1 Billion in profits for the year of 2018. Binance does not use the extra leverage instruments on BitMEX, but it has attracted a majority share of global traders. Checking coinmarketcap.com, we find that the daily trade volume of BitMEX is three times that of Binance.

Doing the math from the daily trade volume of both exchanges, BitMEX could be targeting $3 Billion in profits at the end of this year or even more.

Therefore, the question as to whether they are getting the funds to rent the best office space in Hong Kong can now be answered. We can also understand how Ben Delo is a Bitcoin Billionaire.

However, there is still the unanswered question as to why trading in the United States is prohibited and as to whether the exchange has protection measures for their users against market manipulation.

For the latest cryptocurrency news, join ourTelegram!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our fulldisclaimer.

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Bitcoin and Ethereum: A Look At The Week Ahead

Ethereum co-founder Joseph Lubin said this past years surge in the value of digital currencies was a bubble and the burgeoning ecosystem is stronger because of it even as prices tumble.

Weve seen six big bubbles, each more epic than the previous one, and each bubble is astonishing when theyre happening but when you look back they look like pimples on a chart, Lubin said during an interview on Bloomberg Television. With each of these bubbles we have a tremendous surge of activity and thats what were seeing right now.

Lubin, who is the chief executive officer at ConsenSys Inc., said developer activity rose by two orders of magnitude since prices jumped last year. He added that trader types are driving volatility and isnt concerned that the slump in prices will slow down the development of core infrastructure and adoption.

After leaving Ethereum, a blockchain-based platform for smart contracts and applications, Lubin founded ConsenSys, which helps startups build on top of the Ethereum network.

Lubin said ConsenSys has 1,100 employees who build infrastructure for the Ethereum ecosystem, and focus on products, consulting for enterprises, governments and central banks, and capital market activity. He said it cost under $100 million to run ConsenSys last year and the figure will be higher this year.

Ether skyrocketed over $1,000 in February in part as startups built projects on top of the Ethereum blockchain and sold digital tokens in exchange for Ether in crowd sales known as initial coin offerings. Now, some of those projects are cashing out, contributing to Ethers slump. The token has tumbled by as much as 27 percent this week, the biggest two-day drop since February. The price slumped to as low as $251, the lowest since November.

Lubin foresees a future where Ethereum will be significant among hundreds of other protocols, which will co-exist.

This is what it feels like to be living in exponential times, he said.

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Ethereum Co-Founder Joseph Lubin Says Speculators Driving ...