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Ethereum Price Analysis: Positive Developments in the Cards

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The Ethereum blockchain, which went live on 30 July 2015, has evolved over the years to become one of the largest blockchain ecosystems in the market. Just like Bitcoin, Ethereum operates as an open-source, distributed digital platform built by several people across the globe, offering leading-edge blockchain solutions to investors. But unlike Bitcoin, which is powered by Proof of Work protocol, Ethereum provides a more adaptable and flexible solution, running on smart contracts.

With the crypto market booming with thousands of new currencies, the market has become exceedingly volatile, experiencing frequent price drops. The rapid rise of altcoins, along with the faltering state of the market, has challenged the ascendancy of big currencies like Ethereum. Looking at the market response of the past few months, ether has been in a constant flux, with the market receiving a boost in the form of new innovations. An inside look at the developments in the Ethereum network divulges some exciting upgrades on the blockchain. In case you are missing out on what’s up with this eminent blockchain platform, here’s a brief summary of the latest developments on the blockchain.

Buterin Announces Transition to Casper v2 

As per the Ethereum Core Devs Meeting held on June 15, Vitalik Buterin has revealed some important upgrades to Ethereum, which include Casper and sharding. The update rejects the proposed Casper FFG with Casper v2, which would serve as a beacon chain joined to the main system.  By separating the proof-of-stake (PoS) counterpart from the main chain, Ethereum would enable users to make their own voting rules alongside rules about adding or removing blocks. Subsequently, a sharding function will be activated on the beacon chain, which will run on the PoS consensus algorithm of Casper. Explaining the sharding process in the meeting, Buterin observed that the transition would be smooth “because basically, here, there would only be one validator set and only one way to get into the validator set – only one kind of validator – right from the start.”

Aventus Protocol Goes Live on Ethereum MainNet

Speaking of the latest developments on the blockchain, Aventus’ announcement of implementing Aventus Protocol onto the Ethereum MainNet has generated quite a noise in the crypto market. With the vision of transforming the live entertainment industry, Aventus aims to introduce secure modes of ticketing events. According to the reports, the enterprise anticipates putting an end to widespread problems of fake tickets and abnormally high resale prices by limiting resale prices and eliminating risks of duplicate tickets.

Coinbase Adds Support for Ethereum Testnets and Custom ERC-20 tokens

Toshi, the Ethereum-based digital platform operated by Coinbase, has added support for Ethereum Testnets and custom ERC-20 tokens. Following the integration of Ethereum Classic (ETC), the Coinbase team disclosed that one of the mid-term strategies of the company involves supporting ERC-20 tokens, including initial coin offering (ICO) tokens and independent blockchain projects. The Coinbase official report states: “We have previously announced our intention to support the ERC20 technical standard and Bitcoin forks. We will announce the intention to add specific assets within those categories prior to final engineering integration. This is consistent with our public process for adding new assets.”

Ethereum and the Market

With Bithumb hack generating shock waves across the boards, the aftermath of the event did not leave a long-lasting impact in the market, and much to the investors’ delight, the prices are creeping back gradually. As the total market capitalization is progressing towards $300 billion, all the top currencies are recovering their losses. This means Ethereum is also showing signs of a recovery.

Going by the price records of last 24 hours, Ethereum has witnessed a steady 3.6% rise, taking the value to $540. While it’s hard to determine whether the price has finally stabilized, positive price movements are on the cards, with the price charts showing signs of a further rise. The top-performing altcoins in the market, which are trading the green, are going strong. Interestingly, the only coin trading in double figures as of 21st July 2018 is Ethereum Classic. Available for trading at $541.34, ETH has moved up by 3.45% from its earlier position. With a market capitalisation of $54,246,332,457, Ethereum boasts a trading volume of $1,507,650,000 at the time of writing.

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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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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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7 Steps to Recovery from a Crypto Trading Loss

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Whether you are a newcomer to the crypto market who mistakenly invested a large amount into the wrong coin, or a professional that made a well-researched decision and something still went wrong, the result it the same — you lost your money to the crypto market. This is a big problem, but also a problem that every crypto trader faces at some point.

The reason may be anything, from simple bad luck to the lack of research. Add to that the fact that the crypto market continues to be extremely volatile, and it is clear that not all of your trades are going to end up successfully.

Whatever the reason is, the fact remains that you experienced a loss and that this is a problem which can affect more than your funds. It can also affect your mind and feelings. Since every successful trade that you have the potential to make in the future depends on you, you have to recover first, and only then should you worry about the funds.

The road to recovery is different for everyone, and it will take a different amount of time and effort. However, there are a few general steps that you can take to recover from a crypto trading loss.

Step 1: Stop and calm down

You have just suffered a major loss. It may have been your mistake, or…

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