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Can Ethereum Innovations Help ETH Markets Go Back Up?

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The more cryptocurrency markets are experiencing a dip because of bitcoin, the more FOMO (fear of missing out) is driving investors to buy top-10 crypto. Although Bitcoin has nearly touched the surface of $6000 some experts are indicating further fall in price in the coming days. This scenario is quite different when it comes to Ethereum and other altcoins. It’s safe to say that Ethereum still has a trick up its sleeve to climb markets and give its investors a breather soon. In this article, we shall discuss more how we believe Ethereum could already be on the path towards recovery.

What Is Casper Protocol?

Anyone who knows anything about crypto must know that Ethereum has always been crowned as one of the most significant digital currencies. the primary reason being its innovative technology and its incessant advancements in the blockchain industry. Crypto enthusiasts, as well as crypto experts, believe that Ethereum has made more impact in the industry and is well-rooted into the system that for it to be called just a cryptocurrency would be insufficient. Ethereum is known for its technological advancements, constant updates, reliable and improved ecosystem.

Casper protocol is all but an example of Ethereum’s advancement. The two Ethereum development projects under the name Casper are Casper FFG, a protocol being developed by Vitalik Buterin, Ethereum’s co-founder. The other one is called Casper CBC. Casper one of the latest proof-of-stake protocol which has got everyone in the crypto space talking. Through Casper, validators will be able to stake some of their existing Ether. After encountering a block that needs to be validated they will place their bets and if that block is attached to the chain then the validators will be rewarded according to their bets. This validation system does not contain any loophole according to Ethereum team and it also effectively hinders malicious activities within the system. with all these features, developers at Ethereum say that Casper will surely add to energy efficiency, strengthen economic security and give way to scalability.

Will Ethereum Enter Gaming Via New ERC Standard?

Ethereum ecosystem has always been recognized specifically to be working as a foundation for smart contracts. Smart contracts are actually automated protocols that execute and enforce various types of transactions autonomously. And now Ethereum might be entering the gaming industry with a new token standard. This new token standard has been created by Witek Radomski also known as the Co-founder and CTO of Enjin coin. He has written a medium post regarding the creation of new token standard being called, ERC-1155 on the Ethereum blockchain. According to Witek, new blockchain games require recent Non-fungible ERC tokens such as ERC-71 because it allows each and every unit to be unique collectible item having its own serial number. But that’s impractical and wastage of space if we compare it to the situation where you buy a new PC just to run a different Application. Even so, the reason for its popularity could be related to the huge success of Cryptokitties.

But mainstream games require more advanced token standard, more precisely ERC-1155. According to Witek, using it would mean that a single contract will be sufficient for storing more item while playing mainstream games. Some of its highlighted features are as follows:

  • The amount of data required to differentiate the tokens from others will be kept at a minimum.
  • This contract state would also contain configuration data per token ID.
  • The ERC-1155 has attracted much attention towards it because it will allow the creation of token that makes atomic swaps easier (in just two steps).
  • This new standard would also ease the process of sending any number of items by a user to one or more recipients on the blockchain with just one transaction.
  • Sending to multiple recipients using one transaction would save a good amount of energy and reduce network congestion.
  • Developers can also create a fungible and non-fungible item with the help of this new token standard.
  • To create the token, one does not need to be an expert developer from Enjin program. Almost anyone can create tokens by using ERC-1155 standard since it’s a simple store of data and behaviors that features a GUI for the creation and launch of new tokens.

Current Market Position:

These recent updates and the release of the ERC-1155 standard has positively influenced Ethereum’s markets. At the time of writing the individual price of Ethereum that is ranked as the 2nd largest cryptocurrency of the world is close to $458.20 which is constantly rising at the rate of 1.41%. the total market capitalization of Ethereum according to the latest data on CoinMarketCap is approximately $45.962 billion. Around $4.3 billion ether has exchanged hands within the past 24 hours. As it seems, ETH is trying to recover from past losses and once after it reaches correction we might observe bullish trends.

Conclusion

The ERC-1155 contract has already been released to the Game Development and Ethereum community. most of the community members and Ethereum developers seem to be favoring this innovative token standard on various forums. It is true that people are enthralled by the possibilities and opportunities ERC-1155 standard is proposing but we still need to see it in action to ascertain whether it is worth the hype or not. The only certainty is that it’ll rake in more usability and appreciation for Ethereum ecosystem in the near future.

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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 full disclaimer.

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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