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Ethereum Network Planned Hard Fork Delayed Due to Late Acceptance of EIPS

The blockchain infrastructure company running the core of the Ethereum network has delayed the planned hard fork launch until September 6th. 

During the dev meeting, Pooja Ranjan, founder of Etherworld presented meeting notes which suggested that, in accordance with the Parity core developer, Wei Tang, there is bound to be a two-week delay before any proceeding in selecting the block numbers with regards to the Istanbul fork.

Wei expressed concerns over gas issues which would require immediate resolving prior to launching or implementing the mainnet hardfork, as it could result in complications in changing the course once the fork occurs. This could result in the delay past September 6, Wei argued.  

Not to mention, Buterin of Ethereum has previously highlighted that the Ethereum blockchain itself is reaching full capacity.

Buterin stated:

“Scalability is a big bottleneck because the Ethereum blockchain is almost full. If you’re a bigger organization, the calculus is that if we join, it will not only be fuller, but we will be competing with everyone for transaction space”

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Ethereum is an Ideal ICO Platform, Asserts Roger Ver

During the annual Devcon 5 conference for Ethereum, Roger Ver, a proponent of Bitcoin Cash, noted that initial coin offerings (ICOs) were experiencing a dormant trend despite their fundamentality in connecting investors and entrepreneurs across the globe.

However, he acknowledged that Ethereum could come in handy in eradicating this challenge because it offers a fantastic ICO platform.

Ver stipulated, “Ethereum is fantastic as an ICO platform. If people want to have an ICO today, Ethereum is a fantastic platform to do it on because you have all this infrastructure already in place.”

He also acknowledged that decentralized finance or DeFi was emerging as a popular platform in the crypto-space. This can be depicted by the actuality that the decentralized applications (dApp) market is worth $500 million.

Additionally, Ver proclaimed that the functionality of ERC-20 tokens or Ethereum in DeFi was exceptional. Nevertheless, if Bitcoin Cash was incorporated into the DeFi ecosystem, optimal results could be inevitable.

Ver stated, “you can now make Bitcoin Cash tokens, send them to anyone, anywhere in the world, and then pay dividends directly on-chain to every token holder with whatever address and whatever country they are present in.”

Ver’s notion was that Ethereum could come in handy in revamping the ICO sector.

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Official State-Run Publication Reports Blockchain Development in China to Reach $2 Billion In 2023

Chinese publication, Xinhua, reports that blockchain technology will reach $2 billion in 2023, and blockchain development in China is expected to increase by a compound annual growth rate of 65.7% from 2018 to 2023.

A study conducted by American intelligence firm, IDC, stated that a large proportion of China’s blockchain spending was headed towards the banking sector in 2019. Other industries where expenditure was high included manufacturing, retail, professional, and process manufacturing.

Research at IDC suggested the recognition of such growth in official reports will further blockchain application and accumulate spending rates in the sector. On a larger scale, reports earlier in the year highlighted that blockchain solutions spending in the Asia/Pacific regions with the exception of Japan would obtain $2.4 billion by 2022.

Following on from the forecasts of stable growth rate for blockchain, Xinhua equally published another industry report revealing to millions of Chinese people to Bitcoin, claiming it to be “the first successful application of blockchain technology.”

DAppstore Creator Decenternet’s Spyce Token to be Listed on BW Exchange November 22nd

Decenternet, the creator of the dAppstore, has announced the launch of its token called “Spyce.” Spyce is scheduled for listing on the BW exchange beginning November 22nd, 2019.

Here we’ll give you a quick overview of Decenternet, the dAppstore, the Osiris browser, and the Spyce token. Spyce is likely to be an excellent crypto investment, as it amounts to placing a call option on the coming decentralized internet.

Decenternet – Web 3.0

The goal of Decenternet is to create a decentralized internet.

To this end, several working products are already in place, including a new web browser designed for the new internet, a decentralized application store, and a wallet with an accompanying token. All three have been integrated into a single platform.

Osiris Browser

A decentralized internet needs a browser unlike any other.

The Web 3.0 Osiris browser is the first-ever net-neutral browser that allows users to participate in the decentralized internet and all it has to offer. Osiris protects your private data, blocks ads, prevents censorship and works at least three times faster than the average browser.

Future upgrades to the Osiris browser include things like borderless payments, paying users through the open-source Liberty Ads Network, VPN-like features without the VPN, and more.

Photo by Glenn Carstens-Peters on Unsplash

Perhaps the most magnificent accomplishment of the Osiris browser is its integration with a marketplace for decentralized applications (dApps), also known as the dAppstore.

DAppstore

One of the primary problems keeping crypto from achieving mainstream adoption is usability. Most interfaces for interacting with cryptocurrency and related technologies are not user-friendly for the average person.

Most people don’t know how to cope with a browser extension like MetaMask or an address that looks like this:

3PCZDDNyAAd7tMQf8JeGZXbb2pD57kUzbf

For decentralized applications, the dAppstore solves this problem. Rather than configuring and engaging some strange and unfamiliar program, users can engage the dAppstore directly from within the Osiris browser. There’s no need to deal with multiple plug-ins or wallets – everything can be taken care of from within the browser. All users need to do is first sign up for the dAppstore and create a web-based wallet.

Decenternet believes this will be a major catalyst for helping dApps go mainstream. Of course, accompanying this adoption will be the Spyce token and the Spyce wallet.

Spyce Wallet

The Spyce wallet is the wallet that users need to participate in the dAppstore.

The Spyce wallet is also integrated into the Osiris browser. The wallet is web-based and will be linked to popular tokens like EOS, ERC, TRON and more.

Photo by Eftakher Alam on Unsplash

DApp games like Crypto Kitties, Bit Empire, Crypto Space Commander, Zombie Battle Ground and more have already garnered huge interest and seen large amounts of cryptocurrency change hands. This is only the beginning.

DApp’s can be used to create all kinds of new and revolutionary platforms. Just a few include things like decentralized exchanges, prediction markets, and decentralized art marketplace that put artists in charge of selling their work and make forgeries impossible.

The dAppstore will generate demand for Spyce

All things considered, Spyce has a bright future. The age of decentralization is upon us and it requires a new conceptualization of the internet itself – in a word, Decenternet.

Photo by Umberto on Unsplash

The decentralized internet will spawn its own economy, a freer and more equitable one for all. Central to the economics of this non-centralized world wide web will be the Spyce token, which users will need to use to participate.

There are billions of internet users, and most of them won’t object to a faster and freer experience that lets them use decentralized applications with ease. This might even bring new users online who never would have been able to participate before. The demand for Spyce will be strong as a result.

Starting November 22nd, Spyce will be available for trading on the BW exchange.

Don’t miss the opportunity to be an early adopter of the decentralized web!

*Legal Disclaimer*: I am not a financial advisor and this article shall not be taken as financial advice. I do not have all relevant background details or facts relating to your specific financial situation, thus I am not in a position to give you financial advice. All investments involve risk of loss of capital. The content of this article is for informational purposes only and does not constitute a recommendation to buy, sell, or trade any token, coin, currency, security, or other financial assets. I do not hold any investments in Spyce or Decenternet.

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Amun AG Obtained Approval from Swedish Regulator for ETP Offerings in EU

A press release issued early December confirms the approval given to Amun AG for a Base Prospectus it has filed with Swedish finance regulator, the Swedish Financial Supervisory Authority (SFSA). The regulatory approval has allowed the firm to promote its various exchange-traded products to retail clients within the EU. The president of Amun AG, Ophelia Snyder adds, ‘We recognize that the regulatory framework in Sweden has been supportive of such initiatives and we welcome its deliberation.”

Furthermore, Snyder’s belief is that “The combination of strong demand for ETPs in Sweden – especially in crypto assets – among private investors and institutional clients and our strong expertise in these product categories create ideal conditions for Amun’s entry into the Swedish and European Union markets for ETPs.” Equally, Cointelegraph reported, “Amun has played a crucial role in the expansion of Switzerland’s crypto offerings both internationally and domestically.”

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Are Ethereum Nodes Ready for a New Hard Fork on New Year’s Day?

The Ethereum network is expected to undergo a scheduled upgrade,named Muir Glacier at block number 9,200,000, predicted to occur on New Year’s Day 2020.

As Ethereum has faced the dilemma of moving to proof-of-stake in the usual way, delaying in the mining “ice age,” developers have voted to disable the difficulty time bomb for miners to be able to seek block rewards with the use of some time.

The developers forgot to diffuse the difficulty creep during the Istanbul hard fork earlier this month, leaving exchange employees and node operators awake even after the New Year celebrations.

Although the crypto markets may be quite inactive on New Year’s Day, any mistakes with the hard fork may result in the worst day of the year for its recovery.

Around 63.2% of nodes are ready for the changes, according to Ethernodes. 40% have been slightly changing their protocols, as the difficulty creep started to affect mining in the past three months, leading to a drop of around 20%.

Ethereum prices have been falling since mining has become more difficult. Although the Istanbul hard fork faced a similar issue regarding readiness, most nodes left it to the last minute to update, although still resulting in passing the fork successfully. Unlike the Istanbul hard fork, nodes may get ready this time for the Muir Glacier hard fork.

The developers from the Ethereum Foundation also confirmed that the hard fork would increase the inflation of Ethereum, resulting in a further decrease in the ETH price.

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Telegram Resists the SEC Court Order to Reveal Financial Details of 2018 ICO

A recent court filing initiated by the United States Securities and Exchange Commission (SEC) compels Telegram to reveal bank records and other transactional documents showing how the raised funds have been used in the last two years.The filing stated: “Plaintiff respectfully moves to compel Defendants to answer questions and provide documents regarding the amounts, sources, and use of funds raised from investors in connection with the unregistered sale of securities at issue in this case, Defendants are now refusing to disclose the bank records concerning how they have spent the $1.7 billion they raised from investors in the past two years and to answer questions about the disposition of investor funds.”

In the early sale rounds in 2018, Telegram raised $1.7 billion for the development of its TON blockchain. It is worth noting that the company advised investors against participating in the rounds, yet many of them were able to access the tokens through external parties before the launch of Telegram’s blockchain.The SEC summoned the company to court for alleged claims that the tokens fell under the category of securities, which the company failed to make known to the regulators. As a result of this lawsuit, the company has equally been compelled to delay the release of its blockchain launch.

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Which Cryptocurrency Was Most Correlated to Rest of the Crypto Market In 2019?

A reportpublished by research projections from Binance released figures which amounted to ETH (Ether), averaging a correlation coefficient of 0.69. The research showed the following comparative values; “Ether is the highest correlated asset. With an average correlation coefficient of 0.69 throughout 2019, it is consistently among the most correlated assets. The coefficient started at 0.69 in Q1 and rose to 0.72 in Q4 (Q2: 0.65; Q3: 0.74).” Findings from the report show that Ether was relatively less correlated in the earlier half of 2019. The incline of its correlation began in the second half.

What was most interesting is that research shows that ‘programmable blockchains,’ for instance, Ethereum, NEO, and EOS showed moderately higher correlations in comparison to non–programmable assets. The most significant contrast was amongst those assets with the lowest correlation, namely Cosmos, standing at a correlation of 0.31. To add are Chainlink (LINK) and Tezos (XTZ) at coefficients of 0.32 and 0.4, respectively.

The “Binance Effect,” which was highlighted in the article, reveals that cryptos listed on Binance resembled higher correlations than those that are not listed. Additionally, the relationship between BTC and well- known commodities such as Gold is debatable, but recent data reveals that it is significantly less correlated than popular belief.

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Multi-Grammy Winning Singer Akon Planned to Launch Akoin on Stella Network

Widely regarded as a successful music artist, Akon has revealed the whitepaper about his forthcoming cryptocurrency project known as ‘Akoin.’ The document entails the project as a cryptocurrency, “designed for entrepreneurs in the rising economies of Africa and beyond,” The project’s mission is to “unlock the potential of the world’s largest growing workforce” through the use of blockchain technology. Primarily, Akoins will be used as utility tokens that encourage ‘atomic swaps’ between cryptocurrencies, fiat currencies, and credits for mobile phones on the Akoin network. Akon reiterated that the mobile credits are already in use as a currency in Africa. 

“We have so many currencies in Africa – a lot of them are unstable, and most of them are untrusted. It got to the point where the day-to-day African people don’t even use the currencies anymore, they’re using their cell phone minutes and credits as a way of trading for basic goods like produce, fish, fruits and things on the market. Ultimately, outside of the villages, you really can’t trade cell phone minutes for anything,” Akon continued. “So we want to utilize that same mindset to take advantage of that mechanism outside of Africa – so even when they leave the continent, they can be able to utilize all of their credits and be able to purchase real things.”

Furthermore, the token will also be employed to pay for fees in listing applications, transaction fees, advertising fees on the platform, and a means of exchange throughout the network. The launch of the token will take place on the Stellar (XLM) network, which will be held in both Stellar and Akoin Wallets. The whitepaper also revealed that private transactions occurring on the Akoin system would be subject to a 2.5% charge. 

In addition to this project, Akon is also looking to develop his ‘Akoincity’ plan in Senegal. The expected completion date is in five to ten years. Mostly, the rapper hopes that these endeavors will push forward the African economy. 

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Jul 13 Trading Analysis: Dont confuse the lack of volatility with stability

Trading Crypto with Eugene is a series of daily commentary of market analysis and trading advice shared by Eugene Ng of Matrixport, a veteran trader with 10 years of experience in top-tier global investment banks. If you like the article, please follow us here on Blockchain.News so you won’t miss our future publications.

BTC has been relatively unaspiring this weekend as ALTs continue to steal the limelight with LINK, Tezos, and Defi names making good gains. For example, ChainLink has hit an all-time high over the weekend with the market pundits citing near record network usage and mainstream adoption (over 45 partners since April). Staking and DeFi names also put on a good show and isnt surprisingly given the low vol environment in BTC. For DeFi, over $2bn has been locked across the various platforms this weekend and wrapped BTC on ETH has now exceeded $100 million. ETH however has been rather dull with headlines over the weekend that ETH 2.0 Phase 0 may not go live until 2021.

In macro-land, this week, we got EU summit on Friday – leaders will discuss the recovery fund, ECB and BoJ and others make their latest monetary policy decisions, U.S. earnings season kicks off with banks kicking off this Tuesday and China’s Q2 economic data. Despite Florida’s biggest daily increase in Covid19 cases, Saudi Arabia proposing to reduce cuts in Oil, and continued US-China rhotheric over the weekend (from trade war to tech), we are still heading into the week “risk-on” with U.S. equity futures showing an uptick in early Asia trading. Strategy: Continue to load up BTC options 8-8.5k puts and 10-10.5k calls. While I am a little surprised that it’s been risk-on from Monday open, I’ll be a little cautious on where we head in the next few days. Gdluck, and speak to me if you want to discuss trade ideas.$9,350 should see some stops and potential leg higher in BTC… May be temporary and highly dependent where S&P 500 moves this week....

More than $2bn locked across various platforms in DeFi…

DisclaimerOpinions expressed are solely the analyst’s own and do not express the views of Matrixport the company.The views and opinions expressed in this article are those of the contributor and do not necessarily reflect the view of Blockchain.News.