Quick take:

The Founder of Tron, Justin Sun, has made an announcement stating that he has made a bold decision that will benefit the communities of TRX, BitTorrent (BTT), Just (JST) and Wink (WIN). Mr. Sun made the announcement via the following tweet.

To note is that Justin Sun has had a reputation for making announcements about announcements.

However, Mr. Sun has always delivered to the Tron community members each time. Going back in time and during the Tron Mainnet launch, Justin Sun promised to launch it ahead of time and came through for the community. Other instances where he showcased his reliability include:

Given the current crypto-verse euphoria surrounding DeFi, high chances his decision will hover around the Decentralized Finance industry. This is based on his statement that the new adventure will involve TRX, BTT, JST and WIN. The only plausible way these four digital assets can benefit mutually is through some type of DeFi platform.To note is that this is based on pure speculation and not the actual decision by Justin Sun.

Also this week, a new version of the Klever App is now available for download on iOS and Android. The team at Klever made this announcement on the 28th of August and explained that the new iteration had new features, upgrades and improvements.

Klever stands out from other blockchain wallets in that it supports several chains as explained below.

Klever is a multi-chain wallet and fully integrated with the Bitcoin (BTC), Tron (TRX), and Ethereum (ETH) blockchains, with more chains to be added directly after launch.

Klever supports thousands of TRC10, TRC20 and ERC20 tokens in its wallet. An innovative new feature of Klever is that it allows the user to save BTC, ETH, and TRX contacts and addresses directly in the cloud.

Here is the original post:

Justin Sun Promises the Tron (TRX) Community a New 'Adventure' - Ethereum World News

In the traditional world of finance, risk management is a key aspect of any investors skillset. In crypto, it seems that investors throw risk management out the window, depending on how you see it.

As polled multiple times by Bitcoin traders and others in the space, many on Crypto Twitter have locked up a majority of their net worth in digital tokens.

Even executives in the space suffer from this mindset, with one recently revealing he has basically all of his net worth locked up in digital assets, in a single cryptocurrency no less.

In a recent discussion on Twitter, Kain Warwick, the founder of the Synthetix protocol, discussed how interesting it was to see the crypto exchange FTX/crypto fund Alameda Research put millions of dollars worth of capital towards an unaudited protocol called SushiSwap.

Warwick noted that he personally wouldnt put more than one percent of his capital at such a risky protocol, which could be drained of its funds at any moment by the admins or by hackers.

FTXs CEO, Sam Bankman-Fried fired back (in a friendly way) by asking how much of Warwicks net worth is locked up in the native Ethereum-based token of Synthetix, the Synthetix Network Token (SNX).

The cryptocurrency pioneer remarked that currently >95% of his net worth is in SNX, though he noted that its hard for him to realistically diversify those funds because he is escrowed as a core contributor and escrowed via staking rewards for at least another year.

Although the exact sum of SNX he owns is unclear, ICODrops reports that the team of Synthetix will eventually have access to 20 percent of all coins in circulation. This in itself is worth hundreds of millions of dollars.

Although SNX has already seen a parabolic rally over the past few months, the coin may have further to rally.

In a recent podcast with Jason Choi of The Spartan Group, a crypto venture and hedge fund, Warwick noted that Synthetixs second-layer scaling solution is a matter of months away.

At current, the Synthetix exchange, which is at the core of the entire protocol, suffers from the drawbacks of the layer-one Ethereum blockchain. For instance, the gas cost right now is 300 Gwei, which is close to an all-time high, and the time for transactions to reasonably go through takes around 15 seconds to one minute.

This means that Synthetix cannot reasonably reach parity with centralized exchanges.

Though with the planned layer-two upgrade, Synthetix may begin to resemble the incumbents, driving demand for SNX and giving the cryptocurrency the ability to accrue value in the longer run.

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More than 95% of the net worth of Ethereum protocol Synthetixs founder is in SNX - CryptoSlate

Ethereum whales are on the rise, of late. This is because the second most valuable crypto continues to remain attractive to many investors and crypto-traders.

Data from an advanced crypto tracker, Whales Alert, showed that an ETH whale moved 62,134 ETH (24,079,813 USD) from an unknown wallet to another unknown wallet.

READ: Crypto: Celo gains over 50% within a day, as Coinbase announces its listing

Priced at $387 as at the time of this writing, the increased activity is a good long-term sign of things to come for Ethereum holders.

Ethereum 24-hour trading volume is $8,717 billion. ETH price is up 1.4% in the last 24 hours. It has a circulating supply of 110 million coins and a max supply of coins.

READ: Chainlink: Most valuable DeFi crypto is attracting investors again, gains over 8%

In the Ethereum world, traders or investors who own a large number of Ethereum are typically called whales. This means an Ethereum whale would be a single Ethereum address owning around 1,000 Ethereum or more.

Meanwhile, Ethereums daily transaction count neared an all-time high this week. Its ATH of 1.34 million was set on Jan 4, 2018, when Ethereum had an average market price of $1,042. Just last week, its transaction counts were within a shouting distance at 1.27 million.

READ ALSO: Two Ethereum Whales move 53,455 ETH, as DeFi tokens gain popularity

Nairametrics believes that the recent whale movements are triggered by the DeFi token phenomenon which uses the ERC-20 protocol for facilitating transactions. Ethereum 2.0, the long-term protocol upgrade of Ethers parent network, is set to launch its final testnet this month.

READ: Crypto: LEND gains more than 4000% in one year, set to rally higher

Ethereum is a cryptocurrency designed for decentralized applications and deployment of smart contracts, which are created and operated without any fraud, interruption, control or interference from a third party.

It is a decentralized system, fully independent, and is not under anybodys authority. It has no pivotal point, and its platform is connected to thousands of its users through their computing system around the world, which means its almost impossible for Ethereum to go offline.

Read more here:

Ethereum whale transfers 62134 ETH as Ether remains above $385 - Nairametrics

TipRanks

If investing is entertaining, if your having fun, youre probably not making any money. Good investing is boring.The words are George Soros, and whatever you may think of his politics or activism, it is impossible to deny that he is one of the worlds greatest stock market investors. In some 30 years of active trading, his hedge fund saw an annualized average return exceeding 30%; it was one of the greatest runs of sustained profits in Wall Streets history. Soros ran his hedge fund behind the scenes, building a portfolio based on reliable dividends and solid returns.He has continued that strategy in recent years, after taking his firm private. Considering his aphorism, Good investing is boring,' its no wonder that Soros gravitates toward stocks with proven returns. His recent new positions simply bear this out, as Soros has bought into three stocks considerable return potential dividend yields of 4.5% or better and upside potential starting at 15%, according to the analyst community. With this in mind, we used TipRanks database to find out what else makes these picks so compelling.Blackstone Mortgage Trust (BXMT)The first Soros pick were looking at is Blackstone Mortgage Trust, a real estate investment trust. Its no wonder that Soros turned to BXMT if he was looking for dividend returns REITs are well known for their high-yield dividends. Blackstone, which holds a portfolio exceeding $167 billion in real property assets under management, focuses on collateral-based senior mortgage loans in the Western markets: North America, Europe, Australia.After a hard hit in Q1, due to the coronavirus crisis, Blackstones Q2 report gave investors a pleasant surprise by beating expectations on both revenues and EPS. While the top line came in at $107.1 million, or 1% above the forecast, the per-share earnings of 56 cents showed a stronger beat of 14%. In a display of confidence, the company has kept its dividend payment stable through the chaotic first half of the year. The 62-cent quarterly dividend was paid out in mid-July, and at $2.48 per share annualized, it offers investors a robust 10.3% return. Thats more than 5x the average found among S&P listed stocks and 4x the average found among peer companies in the financial sector.High returns are always an attraction for Soros, and he initiated his position in BXMT with 355,000 shares. At current share prices, these shares are worth more than $8.5 million.Analyst Donald Fandetti, covering BXMT from Wells Fargo, sees reason for optimism in Blackstones balance sheet, and what that means for the dividend. He writes, Reflecting a competitive advantage, BXMT was able to raise $607 mm of debt and equity capital in the quarter, boosting their liquidity to $1.3B (mostly cash). This puts them in a position to go on offense as high return opportunities begin to arise We believe BXMT will continue paying their quarterly dividend unless the economic situation deteriorates further Fandettis comments back up his Overweight (i.e. Buy) rating, and his $33 price target suggests a 37% upside for BXMT in the coming year. (To watch Fandettis track record, click here)Overall, Blackstone Mortgage has a Moderate Buy rating from the analyst consensus, with 5 recent reviews breaking down to 2 Buys and 3 Holds. Shares are selling for $23.79, and the $27.75 average price target implies a 15% upside potential. (See BXMT stock analysis on TipRanks)Truist Financial (TFC)Formed this past December, through a merger between SunTrust and BB&T, Truist is the eighth largest bank holding company in the US. Its main subsidiaries operate over 2,000 bank branches in 17 states, with company headquarters in Charlotte, North Carolina. Like many banks with a reliance on brick-and-mortar retail branches, the companys shares saw heavy depreciation during the corona crisis, and have only partially recovered. Through the hard 1H20, Truist paid out its dividend regularly, at 45 cents per common share. The most recent declaration, from August 13 for a September 1 payment, continues that reliability. The 45-cent payment gives a yield of 4.5%, strong by any standard, and made better by the companys reliable payment history.Soros fund took the bank merger as an opportunity to buy into a larger bank with greater resources. The billionaires fund bought 498,669 shares of TFC, a holding now worth $19.74 million hardly chump change, even for George Soros, and an indication of a commitment to the new holding.Wall Street agrees that TFC is a buying proposition. Wolfe Research analyst Bill Carcache rates the stock an Outperform (i.e. Buy) rating, and his $52 price target indicated confidence in a 31% upside potential. (To watch Carcaches track record, click here)Backing his stance, the 5-star wrote, We see opportunity for TFC to drive CET1 closer to peer levels as we move beyond near-term merger execution and COVID-19 related risks. TFCs medium-term CET1 target of 10% appears conservative relative... By our math, each 50bp reduction in CET1 would translate into an ~90bp improvement to ROTCE.TFC's Moderate Buy analyst consensus rating on Truist comes from 7 reviews, including 5 Buys and 2 Holds. The average price target of $45.86 implies a 16% upside from the trading price of $39.12. (See TFC stock analysis at TipRanks)US Bancorp (USB)Last up on todays list is another bank holding company, US Bancorp. The parent company of US Bank, and based in Minneapolis, Minnesota, US Bancorp is the fifth largest of American banks, providing banking, investment, and mortgage services to individuals, small and medium business, and government entities, mainly in the Midwest and West. The company boasts over 3,000 branch locations and 4,800 ATM machines across is service area, and a market cap of $56 billion.The large network and deep pockets came in handy for the company during 1H20, when earnings dropped from $1.08 in Q4 to 41 cents in Q2. Revenues grew slightly during the same period, from $5.6 to $5.8 billion. The social shutdowns and consequent reduction in traffic at branches cut into day-to-day business. The second quarter saw business recover to a degree, with a 7% gain in total loans and an 11% gain in average deposit balances.The companys regular quarterly dividend was paid out in mid-July at 42 cents, the fourth quarter in a row at this rate. The $1.68 annualized payment gives the dividend a yield of 4.5%, and the companys 11-year history of regular dividend increases gives it a clear attraction for return-minded investors.Clearly, Soros would agree. His fund staked a position in USB by buying 614,294 shares of the stock. The holding is worth $22.85 million at the current share price. Turning to Wall Street, Chris Kotowski, a 4-star analyst with Oppenheimer, sees USB as well-adapted for the current 'coronavirus environment.USB remains the "flight to safety" name in the space as the diversified model is able to generate pre-provision earnings that could handily fund future potential reserve builds without diluting TBV UBS guided to a stable revenue and expense outlook. NII is expected to be flat in 3Q20 compared to 2Q20, mortgage banking could be up Y/Y but lower than 2Q20, and payment is trending up due to the gradual re-opening of economy. USB also expects non-interest expense to be stable in 3Q20 vs. 2Q20 and FY2020 tax rate of 15%," Kotowski opined.To this end, Kotowski rates USB shares an Outperform (i.e. Buy), which is supported by a $75 price target that implies an upside potential of 101% for the coming year. (To watch Kotowskis track record, click here)All in all, US Bancorp holds a Moderate Buy rating from the analyst consensus, based on 6 Buys, 4 Holds, and 1 Sell set in recent weeks. The stock is selling for $36.82, and the $44.40 average price target suggests it has room for 21% growth in the next 12 months. (See USB stock analysis on TipRanks)To find good ideas for dividend stocks trading at attractive valuations, visit TipRanks Best Stocks to Buy, a newly launched tool that unites all of TipRanks equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

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Safex Platinum to Offer Non-Ethereum Based Decentralized Finance - Yahoo Finance

Both Bitcoin and Ethereum have stalled, but it seems that altcoins are once again popping off. A swath of digital assets in the top 100 have gained dozens of percent in the past 24 hours, with some managing to even double.

One such digital asset outperforming the market leaders is BZRX, the native token of the bZx Protocol. That cryptocurrency is up 30% in the past 24 hours, surmounting the value of $1.00 for the first time ever. BZRX, based on Ethereum, trades at $1.11 as of this articles writing.

The coin is up a lot in the past 24 hours due to a listing on Binance. Binance has rapidly ramped up its listing process over recent weeks due to it being a bull market. By NewsBTCs estimates, approximately two-dozen coins have been listed in the past month alone.

Coins listed by notable exchanges like Binance and Coinbase often lead to rallies in their price due to these exchanges often being these coins first source of real liquidity.

BZRX has been no exception.

Continued here:

Why This Ethereum-Based DeFi Coin Is Up 30% on the Day - NewsBTC

Darwins theory of natural selection, and by extension, the idiom Survival of the fittest, is incredibly apt when it comes to describing the digital asset industry. For long, Bitcoin was considered to be the only fit candidate in the crypto-ecosystem. Over the years, however, Ethereum has managed to carve out its own position of strength as well.

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Its credibility was highlighted by its recent price action after the crypto-asset did not suffer significant depreciation on the charts, despite a lot of bearish pressure. In fact, ETH hit back even harder, with the cryptocurrency registering a 7 percent move north over the past 24-hours, climbing up to $430.

The aforementioned incline felt like a statement of intent, one that brought the ETH at $500 narrative right back into the picture. So, what are the chances?

Ethereum Options riding high with the bulls

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If Ethereums derivatives traders had a direct say, bullish optimism would be written all over the walls. In fact, during the week when Ethereums price faced constant pressure from the bears, total ETH Options Open Interest managed to note consistently high levels.

Skews charts further indicated that the OI relative to the Put/Call ratio had dropped down to its lowest level in 3 months, an observation that suggested that a majority of the traders were expecting the price to go up.

Other than the derivatives market, Weiss Ratings also believes that most projects are now inclined towards connectivity with Ethereum.

Weiss further added that due to the presence of DeFi, Ethereum is rapidly becoming the most desired platform in crypto since the worlds largest altcoin platform has also established itself as a smart contracts platform.

Each of these factors has been attached to a lot of positivity lately, and each of them will eventually play a role in Ethereums price.

Is Ethereum at $500 a possibility soon?

Ethereum is eventually going to be worth over $500, but the question is how. Swing trading based on current volatility has been identified as a major catalyst, but it might not be desirable considering the fact that it leads to weak sustenance.

Let us get our facts straight. The last time Ethereum was valued at $500 was back on 19 June 2018. Simply put, over two years have passed since the crypto-asset registered trading at this range. Now, swing trading based on a short-burst of volatility may allow Ethereum to bridge the gap to $500 within a week, but that might not be ideal. From the attached chart, it can be observed that Ethereum consolidated between $422-$464 for a period of three weeks in late-2017, movement that later fueled ETHs strong rally above $500.

Now, if one were to take into account ETHs recent success at the $400-mark, it can be observed that consolidation has been key. So, rather than taking the short way out to $500 and account for pullback uncertainty, a resistance-by-resistance climb would be more beneficial for Ethereum.

The goal, after all, is to stay above $500, not touch it and come back to the present or lower price range.

Read this article:

Ethereum's move to $500 Shortcuts aren't the way to go - Digital Market News

Ethereum 4 Hour Price Update

Updated August 31, 2020 01:36 AM GMT (09:36 PM EST)

Ethereum came into the current 4 hour candle up 0.4% ($1.69) from the open of the last 4 hour candle, marking the 6th straight candle it has gone up. Ethereum outperformed all 5 assets in the Top Cryptos asset class since the last 4 hour candle. Congrats to its holders!

Ethereum is up 7.59% ($30.25) since the previous day, marking the 3rd consecutive day an increase has occurred. As for how volume fared, yesterdays volume was up 61.05% from the previous day (Saturday), and up 11.83% from Sunday of the week before. Out of the 5 instruments in the Top Cryptos asset class, Ethereum ended up ranking 2nd for the day in terms of price change relative to the previous day. The daily price chart of Ethereum below illustrates.

Moving average crossovers are always interesting, so lets start there: Ethereum crossed above its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 14 days Ethereums price has gone up 7 them.

Behold! Here are the top tweets related to Ethereum:

No matter what you think about $YFI, itll bring tremendous attention to #Ethereum as a whole.Really, it already is. Yes, because of token price.But once they learn what Yearn can do, and how it connects value across myriad DeFi apps, its going to blow uninitiated minds.

Im excited about the fair launches in Ethereum. Well continue to see many more of them become successful. Well also continue to see founders raise from VCs but likely the trend being much smaller rounds to get to launch with lower caps per investor which IMO is a good thing!

the regulators failed on every possible levelthey couldve created a compliant path for Reg A+s and Reg CFs on Ethereum and they just sat around and went after Kik and Telegram theyll be totally lost on DeFi, I dont think theyll know where to start, its way beyond them

As for a news story related to Ethereum getting some buzz:

Ethereum is a Dark Forest. A horror story. | by Dan Robinson | Aug, 2020 | Medium

When anyone calls the burn function on a Uniswap core contract, the contract measures its own liquidity token balance and burns it, giving the withdrawn tokens to the address specified by the caller.(This concept is also the inspiration for the Dark Forest game on the Ethereum testnet.) In the Ethereum mempool, these apex predators take the form of arbitrage bots. Arbitrage bots monitor pending transactions and attempt to exploit profitable opportunities created by them.In addition to burying the call as an internal transaction, we would split the transaction in two: a set transaction that activates our contract, and a get transaction that rescues the funds if the contract has been activated.This would be implemented as follows: If the attacker only tried executing the get transaction, it would revert without calling the burn function.We were hoping that by the time the attacker had executed both the set and get transactions in sequence to spot the internal call to pool.burn and frontrun us, our transactions would already be included.If we had spent more time on the scripts, tweaked the contracts (perhaps changing the Getter contract to do nothing instead of reverting if called before being activated), or even synced our own node to avoid using Infura, we probably would have been able to get the transactions into the same block.

Excerpt from:

Ethereum (ETH) Up $1.69 in Last 4 Hours, Moves Up For the 3rd Consecutive Day; Crosses 20 Day Moving Average - CFDTrading

Gabriel J. Shapiro, a US attorney focused on mergers and acquisitions (M&A), venture, governance, Infosec, and digital assets, is arguing that its pretty much pointless to be a lawyer in the crypto and blockchain or distributed ledger technology (DLT) space.

He points out that professionals with computer programming or trading skills are able to make a lot of money or get a chance to explore their creative side. However, he claims that law is irrelevant to these people and argues that its also not relevant to crypto-related tech.

He acknowledges or understands how most lawyers either go native or become no-coiners, meaning they do not hold or invest in speculative cryptocurrencies but are actively involved in the DLT sector in other ways.

Shapiro notes that many young people ask him about a potential career in crypto law. He admits that it may be more appealing or interesting than other law, however, he questions whether people want to feel close to completely pointless in everything youre doing and make chump change while working for newly minted millionaires?

He notes that these developers or coders and investors are going to ask you (the lawyer) if x,y, z is illegal and yes its illegal and then theyre going to ask you if being outside the U.S. would helplike, its really just pointless. He suggests that teams should just operate anonymously, avoid fraudulent activities, keep away from VCs, and just do what they want.

He reveals:

Its a lot worse for me because my ability to delude myself into thinking that Ive discovered some weird loophole in the law that miraculously makes exactly what my client wants to do perfectly okay.I dont have that ability, which is either a + or depending on your point of view.

He adds:

Ive been very consistent since pretty much my first article in cryptothis tech is really an anti-law tech. If you dont get that your money probably depends on ite.g. you probably work in enterprise blockchain or youre Vlad Zamfir.

(Note: Vlad Zamfir is a highly-skilled Ethereum developer, mathematician, and has been interested in legal issues related to the crypto and blockchain space for a long time, based on his social media activity.)

He continues:

In all seriousness, to my fellow members of the cryptobar, on some level this is really just a weird protection racket, isnt it? Most of the advice for like a DeFi project would just be put a band-aid on your gunshot wound it might helpcant hurt.

Decentralized finance (DeFi) has emerged as an extremely fast-growing area of finance. The entire ecosystem was valued at only $1 billion earlier this year. However, it has now grown to nearly $9 billion at the time of writing, and includes various so-called decentralized protocols for lending, asset management, and operating non-custodial crypto trading platforms (among other use cases).

Shapiro claims:

The regulators failed on every possible level. They couldve created a compliant path for Reg A+s and Reg CFs on Ethereum and they just sat around and went after Kik and Telegram. Theyll be totally lost on DeFi, I dont think theyll know where to start, its way beyond them.

Regulation A+ facilitates investment crowdfunding for up to $50 million. Both accredited and non-accredited investors may participate in securities offers.

Meanwhile, Reg CF (or Regulation Crowdfunding) is a securities exemption that allows small companies to raise up to $1.07 million in capital online. It recently had the best month ever regarding investor commitments at $23.2 million (as reported in July 2020).

Shapiro further claims that lawyers might just be content with getting paid to deal with these so-called DeFi projects and their never-ending issues (both hacks and scams and other technical problems).

He claims that lawyers may create some nonsense analysis, but if theres no law on the subject youre really just speculating, and theres really no law on the subjectsomeone will make it up later, probably 2 years from now.

The rest is here:

Regulators Couldve Created a Compliant Path for Reg A+ and Reg CFs on Ethereum, but they Failed, Crypto focused Lawyer Claims - Crowdfund Insider

In summary:

In their most recent market analysis, the team at Crypterium research explained to readers that Bitcoins weekly chart was showing serious signs of weakness and should not be ignored. According to the report, Bitcoins weekly RSI and Stochastic indicators are overbought and foreshadow a possible fall for BTC to $10k in the future.

At the same time, with a high probability, we can see the price of $10,000 per Bitcoin in the near future.

On the weekly timeframe, the RSI and Stochastic indicators are still in the overbought zone. In addition, candlestick patterns also indicate a trend reversal. All this foreshadows the imminent fall of Bitcoin.

Furthermore, and using Metcalfes law, the team explained that Bitcoins user base was decreasing and this was another warning sign that a move down was in the making.

In addition, we have big doubts about current and future growth. This is due to Metcalfes law, which says that the value of the network directly depends on the number of users

We see a large divergence. The price is growing much more actively than the network itself, which is not typical for global growth cycles.

Moreover, for Bitcoin, active addresses have always been a leading indicator. The price followed the activity, not the other way around. The opinion that the asset will grow first, and then the network activity will grow, does not pass the test in its 11 years of history.

The weekend is once again upon us, and with it, Bitcoins weekly close tomorrow, August 30th. Since the $11,600 support level was lost earlier this week, $11,200 will be the level to watch this weekend.

Additionally, and on the following day, August 31st, Bitcoins monthly close is also on the horizon. These back to back events will most definitely set the pace for Bitcoin in the month of September. A monthly close above $11,200 will be a second for Bitcoin. The last time the King of Crypto opened and closed a month above $11,200 was in December 2017.

To note is that Bitcoin opened the month of August above $11,300. Therefore, a close above $11,200 would provide some level of confidence for bulls.

More here:

Report: Bitcoin's (BTC) Weekly Chart Hints of a $10k Retest - Ethereum World News

In summary:

The crypto exchange of Bitfinex has officially switched to CoinGecko for all its crypto information widgets. This move was announced earlier this month by Bitfinexs CTO, Paolo Ardoino via the following tweet.

Bitfinex switching to CoinGecko came after Mr. Ardoino pointed out that Coinmarketcap only accounted for perpetual contracts belonging to specific exchanges. His observation was shared via twitter on the 15th of August and foreshadowed the move by Bitfinex to use CoinGecko exclusively.

Below is the tweet by Bitfinexs CTO making the observation about Coinmarketcap.

In addition to switching its crypto information widgets to CoinGecko, Bitfinex has had several news developments that might have gone unnoticed in the crypto-verse.

Following the listing of ChainLink (LINK)

Also to note, is that Bitfinex carried out a token sale of Fetch (FET) on the 27th of August. The token sale was open to all verified users of the trading platform with a total of 1.9 Million FET up for sale. The minimum investment allocation was 10 USDT with the maximum being 10,000 USDT.

Additionally, Bitfinex hit a new milestone by integrating the OMG network with a 3 Million USDT transaction. This comes after the parent company of Tether announced that it will be using the OMG Transport Network for USDT transactions.

Lastly, traders can now execute custom algorithmic orders and trading strategies using Bitfinexs Honey Framework. The exchange made the announcement of the new capability at the exchange via the following tweet.

Read more:

Bitfinex Switches all Crypto Information Widgets to CoinGecko - Ethereum World News

ConsenSys an industry-leading blockchain software company recently announced the acquisition of Quorum, an enterprise-variant of the Ethereum blockchain developed by JPMorgan Chase & Co. (NYSE: JPM). And with the addition of Quorum, ConsenSys now offers a full range of products, services, and support for Quorum, thus accelerating the availability of features and capabilitiessuch as digital asset functionality and document management.

JPMorgan and ConsenSys are two leading organizations in Enterprise Ethereum and they have a long history of collaboration after leading the creation of the Enterprise Ethereum Alliance, helping bring a Mainnet Ethereum client Hyperledger Besu to The Linux Foundation,and working together on industry applications built on Quorum like komgo and Covantis. And since the launching of Quorum in 2016, ConsenSys and JPMorgan have collaborated to make Ethereum the platform of choice for enterprises building secure and customizable business networks at scale.

ConsenSys is merging its existing protocol engineering roadmap with Quorum, leveraging the best of both codebases. And all Enterprise Ethereum protocol technology at ConsenSys will fall under the ConsenSys Quorum brand and developers will have the option to choose their underlying technology stack. Quorum will remain open source and become interoperable with ConsenSys other leading blockchain products like Codefis finance and commerce application suite. JP Morgan will be a customer of ConsenSys advanced features and services deployed on Quorum.

In addition to ConsenSys acquisition of the Quorum, JP Morgan made a strategic investment in ConsenSys to support its mission to help developers build next-generation networks and enable enterprises to launch more powerful financial infrastructure.

KEY QUOTES:

The creation of Quorum was a first for J.P. Morgan, both in terms of developing its own blockchain protocol, and open sourcing software for the developer community. Were incredibly proud of the usage of Quorum over the past few years and are excited to have ConsenSys as a partner to take the vision forward.

Umar Farooq, Global Head of Blockchain, J.P. Morgan

Even before the very first block on Ethereum was mined and ConsenSys was formed, weve collaborated with J.P. Morgan on Ethereum proofs of concept and production systems. We are enormously excited to onboard Quorum into the ConsenSys Enterprise Ethereum stack, and look forward to unifying our Hyperledger Besu-based Enterprise Ethereum client with Quorum, and supporting all of the Quorum installations globally. We look forward to continuing our multifaceted partnership with J.P. Morgan for many years and ushering in an era of enterprise and mainnet compatibility.

Joseph Lubin, Founder and CEO of ConsenSys and Co-creator of Ethereum

Here is the original post:

Why ConsenSys Is Buying The Quorum Platform From JPMorgan - Pulse 2.0

Open source blockchain computing platform

Ethereum Logo

Ethereum is the second-largest cryptocurrency platform by market capitalization, behind Bitcoin.[1][2] It is a decentralized open source blockchain featuring smart contract functionality. Ether is the cryptocurrency generated by Ethereum miners as a reward for computations performed to secure the blockchain.[3] Ethereum serves as the platform for over 260,000 different cryptocurrencies, including 47 of the top 100 cryptocurrencies by market capitalization.[4][5]

Ethereum provides a decentralized virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes.[6] The virtual machine's instruction set, in contrast to others like Bitcoin Script, is Turing-complete. "Gas", an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network.[6]

Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. Development was funded by an online crowdsale that took place between July and August 2014.[6] The system then went live on 30 July 2015, with 72 million coins minted.[7][8] This accounts for about 65 percent of the total circulating supply in April 2020.[9][10][non-primary source needed]

In 2016, as a result of an exploitation of a flaw in The DAO project's smart contract software, and subsequent theft of $50 million worth of ether,[11] Ethereum was split into two separate blockchains. The new separate version became Ethereum (ETH) with the theft reversed,[12] and the original chain continued as Ethereum Classic (ETC).[13]

Ethereum is currently developing and planning to implement a series of upgrades called Ethereum 2.0.[14] Current specifications for Ethereum 2.0 include a transition to proof of stake and an increase in transaction throughput using sharding technology.[15][16]

Vitalik Buterin picked the name Ethereum after browsing Wikipedia articles about elements and science fiction, when he found the name, noting, "I immediately realized that I liked it better than all of the other alternatives that I had seen; I suppose it was the fact that [it] sounded nice and it had the word 'ether', referring to the hypothetical invisible medium that permeates the universe and allows light to travel."[17]

Ethereum was initially described in a white paper by Vitalik Buterin,[18] a programmer and co-founder of Bitcoin Magazine, in late 2013 with a goal of building decentralized applications.[19][20] Buterin had argued that Bitcoin needed a scripting language for application development. Failing to gain agreement, he proposed the development of a new platform with a more general scripting language.[6]:88

Ethereum was announced at the North American Bitcoin Conference in Miami, in January 2014.[17] During the same time as the conference, a group of people rented a house in Miami: Gavin Wood, Charles Hoskinson, and Anthony Di Iorio, a Torontonian who financed the project.[17] Di Iorio invited friend Joseph Lubin, who invited reporter Morgen Peck, to bear witness.[17] Six months later the founders met again in a house in Zug, Switzerland, where Buterin told the founders that the project would proceed as a non-profit. Hoskinson left the project at that time.[17]

Ethereum has an unusually long list of founders. Anthony Di Iorio wrote "Ethereum was founded by Vitalik Buterin, Myself, Charles Hoskinson, Mihai Alisie, & Amir Chetrit (the initial 5) in December 2013. Joseph Lubin, Gavin Wood, & Jeffrey Wilke were added in early 2014 as founders." Formal development of the Ethereum software project began in early 2014 through a Swiss company, Ethereum Switzerland GmbH (EthSuisse).[21][22]The basic idea of putting executable smart contracts in the blockchain needed to be specified before the software could be implemented; this work was done by Gavin Wood, then chief technology officer, in the Ethereum Yellow Paper that specified the Ethereum Virtual Machine.[23]Subsequently, a Swiss non-profit foundation, the Ethereum Foundation (Stiftung Ethereum), was created as well. Development was funded by an online public crowdsale during JulyAugust 2014, with the participants buying the Ethereum value token (ether) with another digital currency, Bitcoin.

While there was early praise for the technical innovations of Ethereum, questions were also raised about its security and scalability.[19]

In 2019, an Ethereum foundation employee named Virgil Griffith was arrested by the US government for presenting at a blockchain conference in North Korea.[24]

In March 2017, various blockchain start-ups, research groups, and Fortune 500 companies announced the creation of the Enterprise Ethereum Alliance (EEA) with 30 founding members.[25] By May, the nonprofit organization had 116 enterprise membersincluding ConsenSys, CME Group, Cornell University's research group, Toyota Research Institute, Samsung SDS, Microsoft, Intel, J. P. Morgan, Cooley LLP, Merck KGaA, DTCC, Deloitte, Accenture, Banco Santander, BNY Mellon, ING, and National Bank of Canada.[26][27][28] By July 2017, there were over 150 members in the alliance, including recent additions MasterCard, Cisco Systems, Sberbank and Scotiabank.[29][30]

Several codenamed prototypes of the Ethereum platform were developed by the Ethereum Foundation, as part of their Proof-of-Concept series, prior to the official launch of the Frontier network. "Olympic" was the last of these prototypes, and public beta pre-release. The Olympic network provided users with a bug bounty of 25,000 Ether for stress testing the limits of the Ethereum blockchain. "Frontier" marked the tentative experimental release of the Ethereum platform in July 2015.[31]

Since the initial launch, Ethereum has undergone several planned protocol upgrades, which are important changes affecting the underlying functionality and/or incentive structures of the platform.[32][non-primary source needed]

Protocol upgrades are accomplished by means of a hard fork.

The Ethereum Difficulty bomb is the difficulty of the blockchain mining algorithm puzzle which began increasing in November 2016, from block 200,000. The onset of the Difficulty Bomb is referred to as Ethereum's Ice Age, as the Ethereum network started the transition from Proof of Work (PoW) to Proof of Stake (PoS). A difficulty bomb was scheduled in February 2019 but was pushed back by developers.[33]

In 2016 a decentralized autonomous organization called The DAO, a set of smart contracts developed on the platform, raised a record US$150 million in a crowdsale to fund the project.[34] The DAO was exploited in June when US$50 million in Ether were taken by an unknown hacker.[35][36] The event sparked a debate in the crypto-community about whether Ethereum should perform a contentious "hard fork" to reappropriate the affected funds.[37] As a result of the dispute, the network split in two. Ethereum (the subject of this article) continued on the forked blockchain, while Ethereum Classic continued on the original blockchain.[38] The hard fork created a rivalry between the two networks.

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

Development is underway for a major upgrade to the Ethereum platform, known as Ethereum 2.0.

The Ethereum 2.0 upgrade (also known as Serenity) is designed to be launched in three phases:

Ethereum 2.0 has five main design goals:

As with other cryptocurrencies, the validity of each Ether is provided by a blockchain, which is a continuously growing list of records, called blocks, which are linked and secured using cryptography.[41][42] By design, the blockchain is inherently resistant to modification of the data. It is an open, distributed ledger that records transactions between two parties efficiently and in a verifiable and permanent way.[43] Unlike Bitcoin, Ethereum operates using accounts and balances in a manner called state transitions. This does not rely upon unspent transaction outputs (UTXOs). The state denotes the current balances of all accounts and extra data. The state is not stored on the blockchain, it is stored in a separate Merkle Patricia tree. A cryptocurrency wallet stores the public and private "keys" or "addresses" which can be used to receive or spend ether. These can be generated through BIP 39 style mnemonics for a BIP 32 "HD Wallet". In Ethereum, this is unnecessary as it does not operate in a UTXO scheme. With the private key, it is possible to write in the blockchain, effectively making an Ether transaction.

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

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

It is listed under the ticker symbol ETH and traded on cryptocurrency exchanges, and the Greek uppercase Xi character () is generally used for its currency symbol. It is also used to pay for transaction fees and computational services on the Ethereum network.[44]

Ethereum addresses are composed of the prefix "0x", a common identifier for hexadecimal, concatenated with the rightmost 20 bytes of the Keccak-256 hash (big endian) of the ECDSA public key (the curve used is the so-called secp256k1, the same as Bitcoin). In hexadecimal, 2 digits represent a byte, meaning addresses contain 40 hexadecimal digits. An example of an Ethereum address is 0xb794f5ea0ba39494ce839613fffba74279579268. Contract addresses are in the same format, however, they are determined by sender and creation transaction nonce.[45] User accounts are indistinguishable from contract accounts given only an address for each and no blockchain data. Any valid Keccak-256 hash put into the described format is valid, even if it does not correspond to an account with a private key or a contract. This is unlike Bitcoin, which uses base58check to ensure that addresses are properly typed.

Ethereum is different from Bitcoin (the cryptocurrency with the largest market capitalization as of August 2020) in several aspects:

The total supply of Ether was around 110.5 million as of 16 April 2020. In 2017, mining generated 9.2 million new ether, corresponding to a 10% increase in its total supply. Casper the Friendly Finality Gadget (FFG), which is a hybrid Proof of Work and Proof of Stake scheme, and Casper Correct-By-Construction (CBC), a separate Proof of Stake design of Casper, are expected to reduce the inflation rate to between 0.5% to 2%.[citation needed] There is no currently implemented hard cap on the total supply of ETH.[46]

Ether can be traded by regular currency brokers, cryptocurrency exchanges, as well as many online cryptocurrency wallets.[47]

The Ethereum Virtual Machine (EVM) is the runtime environment for smart contracts in Ethereum. It is a 256-bit register stack, designed to run the same code exactly as intended. It is the fundamental consensus mechanism for Ethereum. The formal definition of the EVM is specified in the Ethereum Yellow Paper.[45][48] Ethereum Virtual Machines have been implemented in C++, C#, Go, Haskell, Java, JavaScript, Python, Ruby, Rust, Elixir, Erlang, and soon, WebAssembly (currently under development).

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

Smart contracts can be public, which opens up the possibility to prove functionality, e.g. self-contained provably fair casinos.[49]

One issue related to using smart contracts on a public blockchain is that bugs, including security holes, are visible to all but cannot be fixed quickly.[50] One example of this is the 17 June 2016 attack on The DAO, which could not be quickly stopped or reversed.[35]

There is ongoing research on how to use formal verification to express and prove non-trivial properties. A Microsoft Research report noted that writing solid smart contracts can be extremely difficult in practice, using The DAO hack to illustrate this problem. The report discussed tools that Microsoft had developed for verifying contracts, and noted that a large-scale analysis of published contracts is likely to uncover widespread vulnerabilities. The report also stated that it is possible to verify the equivalence of a Solidity program and the EVM code.[51]

Ethereum apps are written in one of seven different Turing-complete languages.[52] Developers use the language to create and publish applications which they know will run inside Ethereum. The stablecoins Tether and DAI [53], and the prediction market Augur are examples of applications that run on Ethereum.[54][55]

Many uses have been proposed for the Ethereum platform, including ones that are impossible or unfeasible.[56][44] Use case proposals have included finance, the internet-of-things, farm-to-table produce, electricity sourcing and pricing, and sports betting. Ethereum is (as of 2017) the leading blockchain platform for initial coin offering projects, with over 50% market share.[57]

Ethereum-based customized software and networks, independent from the public Ethereum chain, are being tested by enterprise software companies.[58] Interested parties include Microsoft, IBM, JPMorgan Chase,[44] Deloitte,[59] R3,[60] Innovate UK (cross-border payments prototype).[61] Barclays, UBS and Credit Suisse are experimenting with Ethereum.

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

In Ethereum all smart contracts are stored publicly on every node of the blockchain, which has costs.[66] Being a blockchain means it issecure by design[clarification needed]and is an example of a distributed computing system with highByzantine fault tolerance. The downside is that performance issues arise in that every node is calculating all the smart contracts in real time, resulting in lower speeds.[66] As of January 2016, the Ethereum protocol could process about 25 transactions per second.[66] In comparison, the Visa payment platform processes 45,000 payments per second leading some to question the scalability of Ethereum.[67] On 19 December 2016, Ethereum exceeded one million transactions in a single day for the first time.[68]

Ethereum engineers have been working on sharding the calculations, and the next step (called Ethereum 2) was presented at Ethereum's Devcon 3 in November 2017.[69]

Ethereum's blockchain uses Merkle trees, for security reasons, to improve scalability, and to optimize transaction hashing.[70] As with any Merkle tree implementation, it allows for storage savings, set membership proofs (called "Merkle proofs"), and light client synchronization. The Ethereum network has at times faced congestion problems, for example, congestion occurred during late 2017 in relation to Cryptokitties.[71]

Decentralized Finance is a fast growing use case of Ethereum.[72] It offers traditional financial instruments in a decentralized architecture, outside of companies and governments control, such as money market funds which let users earn interest.[73] This economic model is based on supply and demand DeFi assets such as DAI, Compound, WBTC and others. There is still uncertainty of its future because of the lack of regulation.[74]

On social governance

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

Vlad Zamfir, Ethereum core developer, The New Yorker[17]

In October 2015,[75] a development governance was proposed as Ethereum Improvement Proposal, aka EIP, standardized on EIP-1.[76] The core development group and community were to gain consensus by a process regulated EIP.[citation needed]

Izabella Kaminska, the editor of FT Alphaville, pointed out in 2017 that criminals were using Ethereum to run Ponzi schemes and other forms of investment fraud.[77] The article was based on a paper from the University of Cagliari, which placed the number of Ethereum smart contracts which facilitate Ponzi schemes at nearly 10% of 1384 smart contracts examined. However, it also estimated that only 0.05% of the transactions on the network were related to such contracts.[78]

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Ethereum - Wikipedia

What Is Ethereum?

Ethereum is a smart contract platform that enables developers to build decentralized applications (DApps) on its blockchain. Ether (ETH) is the native digital currency of the Ethereum platform.

Ethereum is supported in part by the Ethereum Foundation, a non-profit that is part of the larger Ethereum ecosystem including enterprise Ethereum consortiums like the Ethereum Enterprise Alliance.

Vitalik Buterin first conceptualized Ethereum in 2013 with the idea of developing an open-source blockchain platform different from Bitcoin (BTC), thus pioneering smart contracts. On the Ethereum blockchain, a smart contract behaves like a self-operating computer program that automatically executes when specific conditions are met. Blockchain allows smart contracts code to be run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.

The Ethereum network went live on July 30, 2015, with 73 million Ether pre-mined.

Ethereum mining is currently based on a proof-of-work (PoW) protocol (like Bitcoin), with future plans to switch to proof-of-stake. Ethereum mining works when miners use their computational power to solve a mathematical problem (finding the hash of a blocks unique header metadata). The first miner to successfully solve the problem (find the hash) then broadcasts that the block has been mined to the entire Ethereum network for other nodes to validate and add the block to the blockchain.

The Ethereum blockchain was supposed to migrate from a PoW system to the less energy-investive proof-of-stake system (PoS) system in January 2020, but the deadline was not met. A switch to PoS and the release of Ethereum 2.0 is still expected for later in 2020.

Ethereum mining is based on the Ethash algorithm, and ETH miners originally received a block reward of 5 ETH per block when the network first went live. In the end of 2017, the Byzantine hard fork of the Ethereum blockchain lowered the block rewards from 5 ETH to 3 ETH. In early 2019, the reward was again lowered to 2 ETH in what is known as the thirdening.

The Ethash proof-of-work protocol makes it not profitable to use ASICs to mine (unlike Bitcoin). Each Ethereum block aims to take an average of 12 seconds to be mined, and the level of difficulty of mining is proportional to the total amount of computer power (or networks hashrate) being used to mine Ethereum.

Ethereum transactions are called gas and they are responsible for powering operations on the entire network, meaning you have to spend your gas (Ether) in order to make changes to the blockchain. Ethereum also has a Turing complete internal code.

The Ethereum platform is used by developers to build new kinds of DApps, which can have a variety of uses ranging from the creation of new digital assets and uncensorable web apps to building decentralized autonomous organizations and more. Anyone around the world is able to freely connect to the Ethereum network.

Ether, the native currency of the Ethereum blockchain, is also used as digital money and can be sent to anyone in the world instantly. Ether can be used as a form of payment or a store of value.

If you are not mining the Ethereum blockchain (which can be prohibitively expensive unless you are a professional miner), you can buy Ethereum on a cryptocurrency exchange. For the latest list of exchanges and trading pairs for this cryptocurrency, click on our market pairs tab. Make sure to do your own research before choosing an exchange. You can also store your Ether on an exchange or a hot or cold wallet.

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Ethereum (ETH) price, charts, market cap, and other ...

Source: Phongphan - Shutterstock

In a new video on the state of the crypto market, trader and analyst Michal van de Poppe shared his possible scenarios for the coming days. The analyst advised his audience not to fall in FOMO (Fear-of-Missing-Out) for altcoins that have moved strongly in the last days.

The trader first concentrated on some tokens from the Ethereum DeFi sector. With exorbitant profits, these tokens can be a huge opportunity for investors but also for a total loss. As an example van de Poppe cited BAND of the Band Protocol. As can be seen in the chart below, BAND has experienced a significant increase in a short time. The trader explained that the chances that BAND and other tokens with similar gains will continue the upward trend are low, at least in the short term:

Bringing a coin into this area is completely idiotic. If you want to take over the trade in this area, better donate the money to a charity and dedicate yourself to something else. (For BAND trading) I am more interested in a longer delay (in price) as we saw in the last price increase.

Source: https://www.youtube.com/watch?time_continue=1&v=Gmljp7CQNz0&feature=emb_logo

The analyst stated that he is more interested in other coins such as Celer Networks CELR. He believes that CELRs performance indicates an upcoming rally. Comparing the current state of CELR with the state of BAND before the massive increase shown above, Michal said:

Celer Network is showing a clear volume accumulation, which is showing that people are interested in this asset We see that we are above the 100-day and 200-day (moving average) for the first time since the listing. So were getting into the bull territory for the first time since it has been listed.

Van de Poppe predicts an increase of the price of Celer Networks token in the CELR/BTC pair towards 200 Satoshis which would represent an increase of 140%. Additionally, the analyst believes that Harmonys ONE has similar indicators to CELR. In the ONE/BTC pair, the currency is priced at around 80 Satoshis with the potential for a parabolic increase of 110% towards 180 Satoshis.

The trader also advised investors to keep their eyes on the MANA token of Decentraland and the ALGO token of Algorand. According to Michal, these tokens could have increases close to 100% if they manage to maintain their current support levels.

In a video titled Ethereum And Ripple: Where To Buy The Dip? van de Poppe also states that he expects a setback for ETH and XRP. According to him, ETH will reach 280 dollars while he recommends investors to wait until this level before taking a long position. He also expects that XRP will also go down after reaching $0.32. Van de Poppe determined as possible support level at $0.28 or $0.24 before establishing a long position.

Finally, the van de Poppe referred to the Bitcoin price (BTC) and stated that the cryptocurrency should turn the resistance level of $12,000 into support. Otherwise, he expects a drop to $9,800. Below you can see Crypto Michals full analysis:

Excerpt from:

Analyst picks top-5 altcoins, predicts correction for Ethereum and Bitcoin - Crypto News Flash

Quick take:

The DeFi boom of 2020 has had a positive impact on the Ethereum network in more ways than one. According to the Q2 DeFi 2020 report by DappRadar, the Ethereum ecosystem has been the major beneficiary of the increased interest in Decentralised Finance. The report explains that:

2020 has been the year of DeFi. With the emergence of liquidity mining, the sector has seen a flood of investor and user capital as well as developer interest

TheEthereum ecosystem has been the main beneficiary of the DeFi wave, but key competitors are now looking to replicate its success on their own network.

The team at DappRadar further concludes that due to DeFi, Ethereum has managed to re-establish itself as the number one Dapp platform in the industry. This is despite the fact that ETH2.0 yet to be fully implemented.

The number two blockchain has re-established itself as the number one dapp platform in the industry. Despite concerns surrounding scalability and skyrocketing transaction costs,Ethereum has been at the center of user and developer activity in DeFi.

Further checking the progress of the DeFi industry via DeFiPulse.com, it can be observed that over $4.5 Billion in total value is locked in Decentralized Finance.

Of this amount, 4.3 Million ETH is being utilized on these platforms. The latter figure is up by 800,000 ETH since mid-July indicating the continual use of Ethereum to participate in yield farming that is the centerpiece of DeFi.

Taking a brief look at the market performance of Ethereum, we find that ETH is currently consolidating between the $365 support zone and the $400 resistance level. With Bitcoin struggling to keep its value above $11,700, the fate of Ethereum rests with the ability of BTC to remain bullish or to experience some form of sideways movement.

As with all analyses of Ethereum, traders and investors are advised to have an eye out for any sudden Bitcoin movements that might affect their ETH positions. Additionally, stop losses and the use of low leverage is advised during uncertain times.

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Ethereum (ETH) is Reestablishing itself as the #1 Dapp Platform - Ethereum World News

EOS

EOS fell 1.20% on Sunday. Partially reversing a 1.89% gain from Saturday, EOS ended the week up by 2.95% to $3.0277.

A bullish start to the day saw EOS rise to an early morning intraday $3.0821 before hitting reverse.

Falling short of the first major resistance level at $3.1117, EOS slid to an early afternoon intraday low $2.9318.

EOS fell through the first major support level at $2.9968 before finding support.

A late recovery saw EOS move back through first major support level to wrap up the day at $3.00 levels

At the time of writing, EOS was up by 0.46% to $3.0416. A bullish start to the day saw EOS rise from an early morning low $3.0284 to a high $3.0450.

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

EOS would need to avoid a fall through the $3.0139 pivot level to support a run at the first major resistance level at $3.0959.

Support from the broader market would be needed, however, for EOS to break out from Saturdays high $3.0821.

Barring an extended crypto rally, however, the major first resistance level at $3.0959 would likely cap any upside.

A fall through the $3.0139 pivot would bring the first major support level at $2.9456 into play.

Barring an extended sell-off, however, EOS should steer clear of the second major support level at $2.8636.

First Major Support Level: $2.9456

Pivot Level: $3.0139

First Major Resistance Level: $3.0959

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum fell by 1.78% on Sunday. Partially reversing a 4.67% rally from Saturday, Ethereum ended the week up by 4.90% to $390.41.

A bullish start to the day saw Ethereum rise to an early morning intraday high $401.00 before seeing red.

Falling short of the first major resistance level at $406.32, Ethereum fell to an early afternoon intraday low $384.02.

Steering clear of the first major support level at $382.44, Ethereum recovered to $390 levels to limit the downside.

At the time of writing, Ethereum was up by 0.58% to $392.68. A bullish start to the day saw Ethereum rise from an early morning low $390.41 to a high $393.42.

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

Story continues

Ethereum would need to avoid a fall through the $391.81 pivot to support a run at the first major resistance level at $399.60.

Support from the broader market would be needed, however, for Ethereum to break back through to $399 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $400 should cap any upside.

A fall through the $391.81 pivot would bring the first major support level at $382.62 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $374.83.

First Major Support Level: $382.62

Pivot Level: $391.81

First Major Resistance Level: $399.60

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripples XRP fell by 2.56% on Sunday. Reversing a 0.40% gain from Saturday, Ripples XRP ended the week down by 0.04% to $0.28781.

Tracking the broader market, Ripples XRP rose to an early morning intraday high $0.29582 before hitting reverse.

Falling short of the first major resistance level at $0.2994, Ripples XRP slid to a mid-afternoon intraday low $0.28207.

Ripples XRP fell through the first major support level at $0.2907 and the second major support level at $0.2860.

Finding late support, Ripples XRP briefly revisited $0.29 levels before easing back into the deep red.

The first major resistance level at $0.2907 pinned Ripples XRP back late in the day.

At the time of writing, Ripples XRP was up by 0.46% to $0.28914. A bullish start to the day saw Ripples XRP rise from an early morning low $0.28821 to a high $0.28992.

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

Ripples XRP will need to move through the $0.2895 pivot to support a run at the first major resistance level at $0.2969.

Support from the broader market would be needed, however, for Ripples XRP to break back through to $0.29 levels.

Barring a broad-based crypto rally, the first major resistance level and Saturdays high $0.29852 should cap any upside.

In the event of a breakout, the second major resistance level at $0.3059 could come into play.

Failure to move through the $0.2895 pivot would bring the first major support level at $0.2804 into play.

Barring another extended crypto sell-off, Ripples XRP should avoid the second major support level at $0.2730.

First Major Support Level: $0.2804

Pivot Level: $0.2895

First Major Resistance Level: $0.2969

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

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

Thanks, Bob

This article was originally posted on FX Empire

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EOS, Ethereum and Ripples XRP Daily Tech Analysis August 10th, 2020 - Yahoo Finance

Ethereums biggest-ever upgrade is supposed to make the blockchain network faster and more efficient. But the new staking system could lock up so many of the networks native ether tokens that investors who want to trade them may have to rely on derivatives markets.

The blockchain, the worlds second-biggest, currently uses a validating mechanism similar to larger Bitcoins known as proof-of-work, where new data blocks and transactions are confirmed via power-hungry computers solving complex cryptographic puzzles.

Youre readingFirst Mover, CoinDesks daily markets newsletter. Assembled by the CoinDesk Markets Team, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and more. We follow the money so you dont have to. You cansubscribe here.

Under Ethereums multi-year upgrade now underway, the network would shift to a proof-of-stake model, where investors validate transactions by staking ether on the blockchain in exchange for token rewards. Its a bit like depositing dollars into a bank account for interest, paid out in dollars.

A possible consequence, though, is the new staking system could soak up as much as 30% of the ether tokens in circulation, based on estimates from Adam Cochran, a partner at MetaCartel Ventures, a decentralized investment firm. An address needs to stake at least 32 ether tokens, worth about $12,400 at the current price, to become a validator in the proof-of-stake model.

Its possible to see a future scenario where the incentive to keep assets locked up on-chain is so great as to remove some liquidity from the market, says Diogo Monica, co-founder and president of the digital-asset custodian Anchorage, told CoinDesk in an email.

Lost liquidity

In May, a survey by the Ethereum developer Consensys found that 65% of ether investors were planning to stake the cryptocurrency under the new system, known as Ethereum 2.0, and half of those wanted to run validator nodes.

Most staking mechanisms have a lock-up period. Rocket Pool Staking, an Ethereum 2.0 staking service, offers staking terms ranging from three months to a year.

Some ether tokens might get locked in staking as the network upgrade proceeds. Ethereum 2.0 is being rolled out in three phases of what could end up being a multiyear process, with the original proof-of-work blockchain running in parallel until the two networks are merged at Phase 1.5.

Wilson Withiam, a research analyst at the cryptocurrency data firm Messari, told CoinDesk that ethers sent to the deposit contract will likely remain locked up until Phase 1.5, and that could cause a decline in the amount of ether readily available.

Staking derivatives market?

Cryptocurrency analysts say ether-staking yields of 3% to 5% would be so tantalizing at a time when government bonds carry near-zero or even negative yields that few investors would opt to leave their tokens in Uniswap or other decentralized trading systems where they could be accessed by traders.

In that case, people will have an incentive to create ways to buy and sell ether shares that abstract whether the underlying asset is currently being staked, Monica said.

Derivatives might be a solution.

Fixed income from staking could even be packaged as a distinct product. Holders who stake their coins could create voucher tokens representing a claim on the stake. Then they could trade the tokens for ether or other cryptocurrencies. So buyers could capture the yield without having to own the underlying asset.

As an alternative to selling voucher tokens, holders could deposit ether as collateral on decentralized lending and borrowing platforms.

Messaris Withiam says he thinks staking derivatives are inevitable.

It will give traders access to tradable assets so that they can continue to do what they do best, Withiam said. Exchanges will be able to offer new markets around these assets and potentially lock customers within their product suite if the synthetic assets arent transferable outside of the exchange.

For now, all this really just amounts to speculation over how speculators will want to speculate on ether.

But theres no lack of motivation: Plenty of cryptocurrency analysts say its possible ethers price could jump as demand increases for tokens to stake. Ethers price has tripled this year to about $390. Such returns far exceed bitcoins 56% gain on the year.

Financial incentive to buy and hold both increases the security of the network, and could lead to dramatic price appreciation, said Connor Abendschein, an analyst at the research firm Digital Assets Data.

Tweet of the day

Bitcoin watch

BTC: Price: $11,509 (BPI) | 24-Hr High: $11,521 | 24-Hr Low: $11,045

Trend:Bitcoin is showing signs of life with a near 3% rise to over $11,500 on Wednesday after a lackluster day yesterday.

The bulls will be hoping to maintain a foothold above $11,400, having failed to keep gains above that level in the previous two trading days. If successful, stronger buying interest may emerge, pushing prices to the psychological hurdle of $12,000 last put to test on July 27.

However, if the market fails to absorb selling pressure above $10,400, a re-test of the daily chart support at around $10,900 may be seen.

A continued bullish scenario looks likely with gold, an inflation-hedge, rallying to record highs above $2,000 and the U.S. dollar losing ground across the board. Both bitcoin and gold have recently moved in tandem, with Goldman Sachs warning that the greenback could lose its global reserve status.

The overall bias will stay bullish as long as prices are held above the former hurdle-turned-support at $10,500 (February high).

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

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First Mover: Ethereums Transition to Staking Could Push More Traders to Use Derivatives - CoinDesk - CoinDesk

When the EOS network launched in 2018, it looked to be one of the biggest contenders to Ethereum (ETH) not just in terms of providing a scalable development platform for decentralized apps, or DApps, but also in terms of a well-funded project with great support, and one that could rival Ethereum as the second-ranked cryptocurrency.

So far, while EDApps OS is definitely a worthy competitor, its hard to argue that it has toppled Ethereum, which houses almost nine times more DApps on its platform than EOS, according to State of the DApps. Nevertheless, EOS remains a top competitor, mainly due to its superior throughput. Facilitating over 700,000 transactions in 24 hours, EOS can currently handle around 20 times the volume of Ethereum. This also translates into user numbers, with EOS now catching up.

Ethereums 2.0 upgrade is looming ever closer on the horizon, promising to level up scalability through sharding. So, how will the new and improved version of Ethereum measure up to EOS?

Ethereums ongoing challenges with scalability have been one of the most pressing drivers for the 2.0 implementation. Currently, the platform can support around 30 transactions per second, which causes frequent network congestion and spiraling gas fees.

Ethereum co-founder Vitalik Buterin has indicated that ETH 2.0 implementation will bring a vast improvement, ultimately achieving 100,000 transactions per second, or TPS, with the help of the sharding mechanism, which enables parallel execution by splitting the blockchain into pieces. However, although the first phase of the Ethereum upgrade will happen by the end of summer 2020, only the final phase which is around two years away will implement sharding, bringing about the assured 100,000 TPS speed.

In contrast to Ethereum, EOS was designed from the start with scalability in mind, and is achieved by enabling parallel transaction processing while keeping the number of block producers small, speeding up throughput. EOSs scalability, in comparison to Ethereum, contributed to much of the buzz generated around the project from the time it started selling tokens in 2017 to its first launch in 2018. Currently, the maximum throughput achieved on EOS stands just shy of 4,000 transactions per second.

Therefore, theres every chance that Ethereum 2.0 could contend with EOS by the time its implementation is finalized. However, this assumes that EOS will maintain the same transaction speeds it can currently handle. EOSIOs strategic vision lists scalability as one of the platforms priorities, detailing various methods that can enhance vertical and horizontal scaling and parallel smart contract execution. Dan Larimer, chief technology officer of the company behind EOS, Block.one, told Cointelegraph that EOS will continue to hold the edge over Ethereum in that metric:

EOSIO will continue to be the faster option in single shard applications, given that its entrenched in the architecture level, and Ethereums 2.0 release will account for more applications on its platform, but not bigger ones.

Interestingly, inter-blockchain communication also features among the EOSIO priorities. Larimer clarified that interoperability between blockchains could be another area for EOS to excel, adding, Were strongly encouraging interoperability solutions, like our recent EOSIO Challenge winner eosio.evm, that empower developers to keep using and scale their legacy ethereum smart contracts.

Beni Hakak, CEO of LiquidApps which runs the DAPP Network told Cointelegraph that he believes the interoperability will bring about a future where both platforms will operate in harmony for the benefit of developers:

The future is multi-chain, giving developers the opportunity to blend together the advantages of various chains, allowing them to optimize their dApps for performance and cost-efficiency in a way that best fits their end-users. Developers can choose the base layer based on their specific use case, and interoperability will give them the freedom to migrate to a different chain.

Ethereum is arguably more decentralized than EOS. Currently, anyone with the right mining equipment can join the Ethereum network and become a miner. The first stage of the ETH 2.0 implementation will involve a move to proof-of-stake, with the minimum stake set at 32 ETH. Anyone who can reach this barrier can still join the network as a validator to compete for block rewards.

A vast interest in staking led some analysts to suggest that there may be a price rally resulting from large quantities of ETH being put out of circulation. Whether mining or staking, Ethereums decentralized network makes it secure against attack, because the cost to attack the network is almost prohibitively high.

So far, one of the biggest criticisms of EOS is its centralization an integral part of the platforms design. The delegated proof-of-stake consensus only ever allows a fixed number of 21 block producers, with token holders entitled to cast their votes for who gets to participate as one of the group.

However, the number of block-producing nodes isnt the most pressing concern. Claims around lack of voter engagement, vote-buying and concentration of tokens into the hands of a powerful few have prompted concerns about the balance of power within EOS. Last year, news emerged that multiple block producers were possibly being operated by a single entity. In this respect, if a powerful party turned malicious, they could attack the EOS network.

Nevertheless, Vitalik Buterin himself has previously shown support for the EOS governance model, recognizing that although its centralized, it does avoid the problems that emerge from decentralized blockchains.

The respective teams behind EOS and Ethereum development are a fairly good reflection of how each platform operates. The ETH 2.0 team isnt a single coherent entity. Rather, there are several teams working on different iterations of the platform. Among them are well-known names in the blockchain community, including Vitalik Buterin, Justin Drake and Vlad Zamfir.

On the other hand, while EOS is open-source, the company that originally built the platform, Block.one, continues to develop it today. Block.one is headed by CEO Brendan Blumer and Daniel Larimer, Block.ones chief technical officer and the architect of both the delegated proof-of-stake consensus and the Steem blockchain.

The biggest announcement to emerge from the EOS camp in recent months is around the launch of its social network, Voice. The company behind EOS, Block.one, has previously provided $150 million in funding to ensure that the project can operate independently. Meanwhile, most of the news around Ethereum continues to focus on the ETH 2.0 upgrade. Although no timeline is currently set, its widely expected that the first phase will be this year with the final public testnet already confirmed for launch on Aug. 4.

So, despite EOS being touted as the other half of a clash of titans with Ethereum, the two platforms continue to co-exist without a clear winner emerging. However, the promise of vastly improved throughput from Ethereum 2.0 does make it a more serious contender for EOS in the scalability stakes.

Nevertheless, a more centralized design of EOS arguably gives the platform an agility edge over Ethereum. Therefore, theres every possibility that EOS could pull off a scalability or interoperability upgrade before Ethereum 2.0 is fully implemented.

Either way, there isnt any reason why the two platforms cant continue to operate side-by-side in the future, as developments in interoperability could even see them start to play together in a way that has not been possible to date. As Hakak of LiquidApps put it: Each chain serves a purpose, and brings its own functionalities and its own advantages to the table. We arent far from a point where dApps would combine Ethereum and EOS technology without the end-user being exposed to the backend.

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Ethereum 2.0 and EOS Crossing Swords Over Scalability Supremacy - Cointelegraph

In summary:

Over the past few weeks, ChainLink (LINK) has proven to be the proverbial fastest horse in the crypto markets. LINK seems to be setting a new all-time high value every 24 hours with its current one being $14.46 set only yesterday, August 9th.

It is with this brief background that Timothy Peterson of Cane Island Alternative Investors, has highlighted the possibility of LINK hitting $32 by the end of the year.

However, Mr. Peterson has also warned that such a parabolic move up would not be sustainable. He added that investors who would be lured to buying LINK at such levels, risk losing 50% of their investment or even more.

Mr. Petersons exact statement was as follows.

Did some quick analysis of #chainlinks network growth rate and historical deviations in price put

Investors who buy at high levels risk losing 50% of their investment or more. Most growth priced in already.

Mr. Peterson has on more than one occasion, hit the nail on the head with his analysis of ChainLink and Bitcoin.

Firstly, and in early July, his modeling of LINKs price using Metcalfes law had estimated an $8 value of ChainLink by August. Checking the charts, LINK has since exceeded this value and almost doubled it at its current price of $13.45 Binance rate.

Secondly, Mr. Peterson had also used his Metcalfes model to predict that Bitcoin would hit $10k before mid-August. Checking the charts once again reveals that Bitcoin has overshot his estimates by a cool $2,000.

Thirdly, and in mid-July, he had predicted that ChainLink would eclipse Bitcoin SV (BSV) and Bitcoin Cash (BCH) in terms of market capitalization. Taking a brief look at Coinmarketcap reveals that LINK has surpassed BSV and claimed the number 6 spot. Mr. Peterson has since updated his comments regarding LINK flippening BCH as seen in the following Tweet.

Approximately $533 Million in market cap separates LINK from Bitcoin Cash. This means that LINK needs only be valued above $16.169 to take the number 5 spot from Bitcoin Cash.

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ChainLink (LINK) Hitting $32 is Possible but Risky - Crypto Analyst - Ethereum World News

Ethereum 4 Hour Price Update

Updated August 10, 2020 11:20 AM GMT (07:20 AM EST)

Ethereum is down 1.17% ($4.64) since the last 4 hour candle, marking the 2nd candle in a row it has gone down. Ethereum outperformed all 5 assets in the Top Cryptos asset class since the last 4 hour candle.

The back and forth price flow continues for Ethereum, which started today off at 390.28 US dollars, down 1.83% ($7.28) from the day prior. The change in price came along side change in volume that was up 12.22% from previous day, but down 72.95% from the Sunday of last week. Out of the 5 instruments in the Top Cryptos asset class, Ethereum ended up ranking 3rd for the day in terms of price change relative to the day prior. The daily price chart of Ethereum below illustrates.

Volatility for Ethereum has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 19 out of the past 30 days.

Behold! Here are the top tweets related to Ethereum:

Nobody wants DeFi to run on shitty consensus systems that are prone to all kinds of abuse, $EOS cartels are a good example, $TRX is a joke and $ADA is still far far awayEthereum still wins in that regard which is why DeFi is built on EthereumTo win, governance will be key

The creator of Ethereum cant confidently tell you what the total supply of ETH is, what it will be in the near or medium term, nor what it will be in the long term.Only that there will be more created based on his & his cronies subjectivity. This isnt crypto, its fiat.

One good thing that came out of this, imo, is that it helps shed light on the differences between the two communities.Hardliner bitcoiners dont understand Ethereum people at all, and vice versa. Its really quite amusing, given how obsessed the 2 camps are with each other /12

For a longer news piece related to ETH thats been generating discussion, check out:

Vitalik Buterin highlights the importance of EIP-1559 to Ethereums supply | CryptoSlate

If youve been following Ethereum over recent months, the term EIP-1559 has likely come up many times.CryptoSlate does not endorse any project or asset that may be mentioned or linked to in this article.None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. 2020 CryptoSlate.

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Ethereum (ETH) Down $4.64 in Last 4 Hours, Started Today Down 1.83%; in an Uptrend Over Past 90 Days - CFDTrading