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Ethereum (ETH) Blockchain to be Used by NASA for Research Purposes

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Ethereum, the second-best currency according to its market capitalization has had a rough patch during the eight-week period during which the market crash was ravaging through prices of the majority of currencies. However, as the market dip was coming to a closure with only occasional drops in the market, Ethereum started to slowly recover, trying to get back to its all-time high. It seems that ETH has finally made it with getting over major losses that this currency has been through during the crash that lasted for weeks as it is finally trading in the green. Moreover, Ethereum got directly involved with NASA, so the public seems to be getting more interested in finding out further details on this matter. So, let’s see what NASA is planning on using Ethereum for and how can this affect Ethereum in the future.

NASA is using Ethereum Blockchain for Performing Researching

Day by day, we see cryptocurrencies slowly but steadily progressing towards crossing the gap between blockchain technology and digital assets and the “real life” applicable usage of this technology. Ethereum is included in one of such cases, where its technology will be put to use to meet real-life requirements, specifically meeting the requirement of creating an easier way of space navigation and communication.

NASA has decided, as initiated by their collaboration with the University of Akron, that they will be implementing Ethereum-based technology in order to enable easy and improved communication and navigation in space. Although many currencies like IOTA with IOTA charging station for electric vehicles, or Ripple with being implemented into various banking systems, are finding their way into the real-life use of crypto assets, it might be needless to say that this case is maybe the most important crypto-meets-real-world integration ever.

Having one of the crypto representatives being directly used by NASA shows in more than a single way that blockchain technology has a bright future with pretty great odds of being widely accepted and massively adopted by the public.

The entire story of NASA meets Ethereum started with the official statement provided by the University of Akron, where this notable institution stated that their Electrical and Computer Engineering department has received a grant of over 300.000 dollars and that this grant will be used for improving space technology used for communication and navigation.

Jin Kocsis, the head of this department at the University of Akron, stated that the original idea behind this grant-fueled project is to improve the way space missions are being done. That could be achieved by finding a way of improving spacecraft so that the technology used could find a way of sending and receiving data easily and almost effortlessly.

Apparently, blockchain technology found in Ethereum could best meet these requirements. In the official statement about this matter, she stated (the head of the department), that the project is aiming to put to use Ethereum-based blockchain technology in order to create a safe and secure decentralized and cost-effective way of exploring the space, and that would be made possible by improving the way spacecraft technology is working when it comes to navigation and communication.

Kocsis further added that her team will be working on further testing of Ethereum technology in order to find the best solution for the mentioned project.

At the same time, this project is making up for a massive step for Ethereum as we can now definitely see this currency being implemented for a cause of great importance, surpassing that gap between the traditional technology and blockchain based consensus and protocols.

How is Ethereum doing at the Current Moment?

It seems that having NASA and the University of Akron directly mentioning Ethereum as their technology of choice for the testing of their new project as they are working on space communication and navigation improvements, is doing wonders for Ethereum in the market.

After a great portion of losses that was near sending Ethereum to oblivion along with the majority of coins and tokens as the market lost more than 50% of the total market capitalization, we can see ETH as it is recovering from the market dip.

At the current moment, Ethereum is trading in the green while experiencing rises against the dollar. After the latest change in the market, and probably due to the NASA related news, Ethereum has risen to 3.74% against the dollar while it is also rising in oppose to BTC.

In addition to trading up against the dollar, ETH is trading up against BTC for 2.36%.

After the most recent change in the market, ETH can be bought at the price of 533.36$ per one ETH unit, which is pretty far from its all-time high.

Although Ethereum is doing great in the market at the current moment, this currency has a long way to go in order to get back to its record price of 1377$ per one unit as marked back in mid-January when the majority of currencies bloomed with gains.

We will be updating our subscribers as soon as we know more. For the latest on ETH, sign up for our Telegram!

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.

Image courtesy of Amy the Nurse via Flickr

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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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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