Crypto markets have been experiencing series of losses and gains on a daily basis. With Bitcoin stuck below $9500 USD, altcoins are having a hard time driving the market to the green zone. Although, the market sentiments and daily gains have gained most people’s interest and some altcoins have reached quite a high profit in the current situation. When it comes to Ethereum, also known as Bitcoin killer, we know for a fact that it is equivalent to the safest bet made in crypto. Ethereum foundation has been actively and diligently making progress to keep their blockchain unsurpassable and has been making headlines regarding their influential role on ICO after SEC’s scrutiny. In this article, we shall decide how Ethereum can lead its investors towards success.
The Reason behind Ethereum Hype:
The reason why Ethereum is a well-known success story and a millionaire’s dream is that it has always been a promising blockchain technological breakthrough instead of settling with the tag of being a mere digital currency. Ethereum prices have been moving sideways till Friday, but since the co-founder of Ethereum, Vitalik Buterin announced a new fund endorsed by Ethereum (Ethereum Community Fund) it has led the cryptocurrency on the path towards some massive gains. The project is said to be a combined brainchild of many renowned and strong blockchain projects such as Global Blockchain Labs, OmiseGO, Golem, Cosmos, Maker, and Tendermint. All of these companies are in the process of developing dApps on Ethereum platform which is why they are practically rival projects in a sense. But the joint efforts made by these companies prove their motive to strengthen Ethereum ecosystem.
Ethereum Launches Casper Version 1.0:
As ethereum is eventually transiting from Proof-of-Work to Proof-of-Stake, there’s been Ethereum buzz scattered all around the community. The rumors were put to rest on Tuesday when Ethereum developers announced the launch of their awaited Casper Network upgraded version. This launch will positively play an important role in Ethereum’s upcoming transformation. Danny Ryan, a New Orleans based developer is responsible for providing developers, auditors and other external parties mean to integrate the source code into their software for testing purposes. He has commented that the upgraded Casper version 0.1.0 would help them clearly tagging releases to help their clients and auditors to track contacts and all changes. Casper serves as the core component of Ethereum’s plan to transform the norms of blockchain gets updated by the network and make it even more secure.
SEC Makes Scrutiny over Ethereum
The pending court cases which are going to decide, whether Ethereum is a security or not, has made everyone interested in blockchain and Ethereum doubt themselves. Although there are some experts who have a logical explanation to prove that Ethereum has always been a security but it’s up to the investors to wait and watch how the recent scrutiny on Ethereum influences the market sentiments. The jury involved in the aforementioned court case will decide the security nature of Ethereum through ICOs which have been marked as scams. These ICOs will also act as defendants in the case. It’ll be a decisive take on the fate of all pre-existent as well as future ICOs on the ICO friendly platform of Ethereum. This sudden attack on Ethereum is being bashed by many supporters of the platform saying that cryptocurrencies cannot be categorized as financial assets unless the current laws and regulations undergo an amendment.
As per the data available on CoinMarketCap, Ethereum is ranked as the world’s second largest cryptocurrency. It has a market capital that is equal to a whopping $75.3 billion USD. At the time of writing, the individual price of Ether is approximately $758.68 USD and its rising at the rate of 3.47%. A total of $2.88 billion USD worth of Ether has exchanged hands within the past 24 hours. Its evident how gigantic Ethereum’s existence is as compared to other altcoins. The price point touched the mark of $850 USD in the previously. There are chances that the bulls are still in control and if all goes well there will be record-breaking figures ahead of us.
Ethereum is one of the most hyped cryptocurrencies of all time and like most of the altcoins, it has been recovering overnight for its lost value overnight. Being a huge influencer of crypto markets, it is the first one to effectively go in the green among the top 10 cryptocurrencies. No matter how small the gain is, the intensifying momentum could transform the entire situation and we shall observe Ethereum setting new records in no time. The current buzz regarding solving scalability problems with the help of ‘Sharding’, Ethereum (ETH) shows that the Ethereum team is consistently developing ways to boost the platform and keep it on the track to greatness.
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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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TRON Partnership Involves Cloud Computing
It has been almost an entire week since Justin Sun, the founder of TRON (TRX), announced a new big partnership for this cryptocurrency. His Twitter announcement did not provide a lot of information, except for the fact that the TRON partnership is with an industry giant worth tens of billions of dollars.
— Justin Sun (@justinsuntron) October 12, 2018
Even so, the entire crypto community started speculating about the new partner’s identity. Soon after the announcement, a new rumor emerged, claiming that the identity of an unnamed corporation was uncovered. According to the rumor, TRON’s new partner is none other than Baidu, one of the largest tech giants of China, which also represents this country’s largest internet search provider.
Baidu is often viewed as China’s version of Google, and if the rumors of a partnership with this company turn out to be true, this will be a big game-changer for TRON.
However, in days following the announcement, new reports started coming in with claims that the partnership will not revolve around blockchain technology. Instead, ODaily reported that the alleged partnership between TRON and Baidu will be focused on cloud computing. The report claims that TRON will be purchasing computing resources from Baidu.
Will Ripple (XRP) advocacy hike affect bitcoin dominance of China?
Currently, China is leading in Bitcoin mining industry by far, second to none for bitcoin mining power. Literally, it’s contributing over 70% of the network’s hash rate (a term that is used in describing the total processing power of a blockchain network). But how Ripple fits in here and what it has to do with that? We’ll talk about that a bit later below, let’s cover some in-depth facts about China’s dominance over Bitcoin first.
It’s a near-complete dominance by China on the BTC mining grid that has made it responsible for mining a majority of circulating bitcoins. A Beijing-based company, Bitmain Technologies, is highly responsible for extracting the significant part – more than half of the globe’s bitcoin, and alone, it has approached 50% of the total hash rate more than once.
The fact that China is controlling a majority of Bitcoin hash rate, clearly tells that it has the power of manipulating or merely destroy the bitcoin network if it gets enough support should it decide to take such a move. Therefore, this has led to serious concerns among countries including the US that China might get an edge in this cryptocurrency industry and possibly becoming a potential threat.
China is the biggest manufacturer of Bitcoin as well as cryptocurrency mining equipment. The reason behind the massive growth of mining farms in the country is because of cheap electricity bills.
Furthermore, the country has adopted several…
Ravencoin (RVN) Surges Following Binance Listing
While most cryptocurrencies today still remain unstable and at the edge of falling into the red, there are some coins that are doing significantly better. One such coin is Ravencoin (RVN), which has surged by over 26% in the last 24 hours.
Ravencoin came to be as a hard fork of Bitcoin and was inspired by a popular book series-turned-television programme, Game of Thrones. The coin’s developers decided to make Ravencoin an open-source project that provides users with the ability to declare assets on their platform. The platform itself is decentralized, transparent, and secure.
Just as Game of Thrones’ ravens are used for spreading the news and truth, Ravencoin hopes to become a carrier of truth regarding the ownership of assets on the blockchain.
Ravencoin’s main use case is for performing P2P transfers, while it prioritizes security, autonomy, user privacy, and control. Additionally, as a coin fighting for truth and transparency, it also stands against censorship.
Ravencoin got listed on Binance prior to MainNet launch
Following the last week’s announcement that Ravencoin is getting officially listed on Binance, the world’s largest cryptocurrency exchange ba trading volume, Ravencoin experienced a large price surge. At one point, the surge took the coin’s value up by over 31%. At the time of writing, however, the coin is still growing, with an increase of 26.15% in the last 24 hours.
Getting listed on Binance has brought Ravencoin to the top…
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