Coin of the day is Ethereum
Ethereum is a second-favorite cryptocurrency after BTC and the main platform for DApps.
A new version of the code of Casper, a planned improvement to the Ethereum network’s economic consensus protocol, has been released by developers May 8.
Ethereum has managed to establish itself as the predominant platform for the development of Decentralized Applications (DApps). Nevertheless, scalability issues have pushed developers towards identifying appropriate alternatives, choosing other platforms, like NEO...
The Ethereum blockchain is currently using the Proof of Work (PoW) consensus algorithm; it can currently process between 7 to 15 transactions per second, which is quite low. NEO’s transaction speed, for example, is a much faster 1,000 TPS.
Casper FFG was first published in October 2017, aiming to solve “open questions of economic finality through validator deposits and crypto-economic incentives.” In late April, the Ethereum Improvement Proposal (EIP) #1011: Hybrid Casper FFG was introduced, with the purpose of creating a hybrid system of consensus that seeks to push the network away from issues associated with cryptocurrency mining.
The Hybrid Casper FFG will reportedly combine Proof-of-Work with Proof-of-Stake (PoS) consensus, with the goal of eventually transitioning to PoS. According to the EIP, one of the specifications of the update reduces the block reward for miners to 0.6 ETH from the current 3 ETH.
Argues with the community
The discussions about decentralization, mining, scarcity, and the infamous cases of frozen funds were had in Toronto without V. Buterin participation, which caused a negative reaction from the Ethereum team. Mr. Buterin tweeted that he has no idea and no involvement in these meeting. “I was not at this meeting,” Mr. Buterin tweeted in response, “it was organized without my permission or even involvement, and I honestly don’t know much about what happened there.”
Technicals
ETHBTC has been falling during the last day, breaking below the 0.08 level. Probably, the fall was caused by the more drastic sell-off in the BTC price, which always shakes the crypto markets. Nonetheless, this fall did not decline the uptrend pattern of Ethereum; the price holds above the Bullish Trend Line and support level 0.077. Even despite the recent 10% drop off, the dollar price pattern of Ethereum stays bullish. Overall, the pattern on ETHBTC looks bullish, and breakthrough above the 0.08225 resistance will signal on future growth. 0.075 level is a support for the bullish scenario.
Ethereum is a second-favorite cryptocurrency after BTC and the main platform for DApps.
A new version of the code of Casper, a planned improvement to the Ethereum network’s economic consensus protocol, has been released by developers May 8.
Ethereum has managed to establish itself as the predominant platform for the development of Decentralized Applications (DApps). Nevertheless, scalability issues have pushed developers towards identifying appropriate alternatives, choosing other platforms, like NEO...
The Ethereum blockchain is currently using the Proof of Work (PoW) consensus algorithm; it can currently process between 7 to 15 transactions per second, which is quite low. NEO’s transaction speed, for example, is a much faster 1,000 TPS.
Casper FFG was first published in October 2017, aiming to solve “open questions of economic finality through validator deposits and crypto-economic incentives.” In late April, the Ethereum Improvement Proposal (EIP) #1011: Hybrid Casper FFG was introduced, with the purpose of creating a hybrid system of consensus that seeks to push the network away from issues associated with cryptocurrency mining.
The Hybrid Casper FFG will reportedly combine Proof-of-Work with Proof-of-Stake (PoS) consensus, with the goal of eventually transitioning to PoS. According to the EIP, one of the specifications of the update reduces the block reward for miners to 0.6 ETH from the current 3 ETH.
Argues with the community
The discussions about decentralization, mining, scarcity, and the infamous cases of frozen funds were had in Toronto without V. Buterin participation, which caused a negative reaction from the Ethereum team. Mr. Buterin tweeted that he has no idea and no involvement in these meeting. “I was not at this meeting,” Mr. Buterin tweeted in response, “it was organized without my permission or even involvement, and I honestly don’t know much about what happened there.”
Technicals
ETHBTC has been falling during the last day, breaking below the 0.08 level. Probably, the fall was caused by the more drastic sell-off in the BTC price, which always shakes the crypto markets. Nonetheless, this fall did not decline the uptrend pattern of Ethereum; the price holds above the Bullish Trend Line and support level 0.077. Even despite the recent 10% drop off, the dollar price pattern of Ethereum stays bullish. Overall, the pattern on ETHBTC looks bullish, and breakthrough above the 0.08225 resistance will signal on future growth. 0.075 level is a support for the bullish scenario.
Comment:
High volumes on the 0.08225 - confirms the breakthrough. In case of a breakthrough of the 0.0845 will aim to the next resistance - 0.09.
