EthereumEthereum ETH news

An indespensible element to the entire Ethereum smart-contract platform, a 'fuel' for it
Price, 24h
272.72 USD / 0.03118000
0.20% / 2.16%
Volume, 24h
2,405,210,584 USD
0.00%
Marketcap
28,549,930,014 / 10%
Emission
Chart price/vol/NIS 7d
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“Ethereum Foundation to Stop Funding Most Internal Teams” Says Dev

A coder that has been working at the Ethereum Foundation (EF) for years says their funding stopped on December 1st. “Other projects’ funding will also have their funding cut in... The post “Ethereum Foundation to Stop Funding Most Internal Teams” Says Dev appeared first on Trustnodes.
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Ethereum-based decentralized exchange blocks 10 countries on frontend

Ethereum-based decentralized exchange, Uniswap has been one of the few projects in the Ethereum ecosystem that has been making constant developments. Even Vitalik Buterin chose the platform as one of The post Ethereum-based decentralized exchange blocks 10 countries on frontend appeared first on AMBCrypto.
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Ethereum Ice Age Difficulty Bombs Leads the Network to Oligarchy: Analyst

Ethereum source code developer, James Hancock, recently proposed the Muir Glacier Hard Fork on Ethereum to rollback on the Ice Age Difficulty. Crypto Analyst, Tuur Demeester, termed the ‘difficulty bombs’ as a blatant approach towards oligarchy. Ethereum’s Ice Age difficulty presents a lot of uncertainties and obstacles in the network. Hancock notes in his EIP 2387 (Ethereum Improvement Protocol)  that, To predict the impact of the ice age, you must both make assumptions about the difficulty of main-net in the future, and predict the effect of changes in difficulty to the impact on the ice age and thus block-times. The Ice Age has been blamed as the reason for the drastic increase in block times as the number of transactions increases. It disables the adaptive nature of Ethereum to accommodate a varying number of transactions. He also added, The ice age increments every 100,000 blocks. It at first is barely noticeable, but once it is visible, there is a drastic effect on block-times in the network. The difficulty bombs are possibly added to address the growth of the network by decreasing the inflations. However, according to Hancock, it presents a lot of problems. Hence, must be done away it completely. Nevertheless, Tuur Demeester, the Founding Partner Adamant Capital, tweeted that the introduction of difficulty in the system out of thin air disincentives the miners. “Thus removes the protection of the network.” Moreover, he presented the analogy of the difficulty bombs in leading the network towards oligarchy. As the decentralized protection of the network would decrease, the control stays in the hands of a few. He tweeted, it’s the equivalent of the Senate writing in the constitution “this country will transition to communism in XX days” in order to ensure that the constitution be regularly “updated”, thus conveniently turning senators into oligarchs. The new proposal aims to remove the mechanism to ensure a more predictable network. Hancock notes that, I want to address the rationale for the intention of the Iceage and the implementation of the Iceage separately. The proposal is open for voting as the community and the nodes will decide on the matter. What are your thoughts on the Difficulty bomb in Ethereum? Please share your views with us.  The post Ethereum Ice Age Difficulty Bombs Leads the Network to Oligarchy: Analyst appeared first on Coingape.
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DIGEST

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DIGEST

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This week, everyone made a wish about crypto price increase — while we observed the Rothschild vs. Trump scandal, — and surely made some crypto predictions for the New Year

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DIGEST

Donald Trump appoints a pro-Bitcoin Chief of Staff, Facebook hires 40 ex-PayPal members and develops a stablecoin for WhatsApp, cryptojacking cases have risen 40%, Ethereum reaches 50M unique addresses, Vitalik Buterin gives $300K to three startups, the UK releases a new tax rule, OKEx launches Perpetual Swap, Coinbase migrates $5B to cold storage

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DIGEST

India thinks whether to ban or not BTC, Upbit states the importance of crypto regulation, Dutch central bank to regulate crypto companies, Spain is preparing a draft regulation bill, South Korea convenes for debate with seven crypto exchanges, Chile declares that crypto regulation is in progress & other news on regulation

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SEC Approves Bitcoin Futures Fund

The U.S. Securities and Exchange Commission (SEC) has approved an investment fund that will invest in bitcoin futures contracts. SEC Commissioner Hester Peirce calls this move “a bit of progress.” The SEC has also revealed why it decided to approve such a fund. Also read: Swiss Licensed Crypto Bank Expanding Into 9 Markets Bitcoin Futures Fund Cleared to Launch The U.S. SEC declared the registration statement filed by Stone Ridge Trust VI for the NYDIG Bitcoin Strategy Fund effective on Monday. The company filed Form N-2 with the SEC on Oct. 2 and amended it twice, on Oct. 16 and Nov. 26. This form is used by closed-end management investment companies to register and offer their shares under the Securities Act. Stone Ridge Asset Management Llc will be the fund’s investment adviser. As of Aug. 30, the company managed approximately $15 billion of assets. The NYDIG Bitcoin Strategy Fund “is a non-diversified, closed-end management investment company that continuously offers its shares,” the filing details, adding: The fund pursues its investment objective primarily by investing in bitcoin futures contracts … The only bitcoin futures in which the fund will invest are cash-settled bitcoin futures traded on commodity exchanges registered with the CFTC. “The fund will not invest in bitcoin or other digital assets directly,” the filing emphasizes. “The fund will seek to purchase a number of bitcoin futures so that the total value of the bitcoin underlying the bitcoin futures held by the fund is as close to 100% of the net assets of the fund.” Its shares are being offered initially at an offering price of $10 per share. Only institutional investors, their clients, and certain eligible investors as specified in the fund’s prospectus can invest in the fund. Currently, CME is the only CFTC-approved exchange offering cash-settled bitcoin futures contracts. The fund has an interval structure; it aims to conduct quarterly share repurchase offers, which it expects to be for a maximum of 5% of the fund’s outstanding shares at net asset value per quarter. The initial quarterly repurchase offer is planned for May 2020. This fund will not be a bitcoin exchange-traded fund (ETF), however, as its filing states: The fund’s shares are not listed and the fund does not currently intend to list its shares for trading on any national securities exchange. ‘A Bit of Progress’ At the 2019 ICI Securities Law Developments Conference on Tuesday, Dalia Blass, Director of the SEC’s Division of Investment Management, talked about cryptocurrency ETFs and the SEC staff’s decision to approve a fund investing in bitcoin futures contracts. “We welcome and value constructive industry engagement regarding new products and novel investment strategies,” she said. “A prime example of such engagement involves registered funds seeking to invest substantially in digital assets and related investments.” Blass explained that she issued a public letter last year calling on the fund industry to discuss issues presented by such investments, elaborating: As a result of this engagement, we are at the point that a registered closed-end interval fund with a bitcoin futures strategy is preparing to launch. To reach this point, the fund first responded to each of the issues identified in the staff letter. Commenting on Blass’ speech, Commissioner Hester Peirce, aka Crypto Mom, tweeted on Wednesday that the agency’s move is “A bit of progress.” Without naming the fund, Blass explained that it expects “to generally value its bitcoin futures holdings at daily settlement prices reflected on a CFTC-registered futures exchange, consistent with the principles of the Investment Company Act of 1940 and U.S. GAAP.” As for custody, the director clarified that since the fund will invest in cash-settled bitcoin futures, it “will not face the challenges presented by direct holdings of digital assets.” In addition, it is a closed-end interval fund which means it “will not offer daily redemptions and will not be subject to potentially large, unexpected liquidity demands over short periods.” Blass further described that “as an unlisted fund, its pricing will not depend on an efficient arbitrage mechanism and the willingness of market makers to make markets in a fund pursuing a digital asset strategy,” noting: The fund also has taken steps to address issues related to potential manipulation in the digital asset markets. “This includes prominent risk disclosures, offering the product only through registered investment advisers, and limiting the size and future growth of the fund, with an initial cap of $25 million,” the director concluded. What do you think of the SEC approving this bitcoin futures fund? Do you think the Commission will approve a bitcoin ETF soon? Let us know in the comments section below. Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Image credits: Shutterstock and Twitter. Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here. The post SEC Approves Bitcoin Futures Fund appeared first on Bitcoin News.
Bitcoin News

SEC Requests UK’s Intervention to Force Telegram’s Former Advisor to Testify

SEC Requests UK’s Intervention to Force Telegram’s Former Advisor to Testify The United States Securities and Exchange Commission (SEC) asked the High Court of England and Wales to force Telegram’s former chief investment advisor John Hyman to testify in the case over the firm’s Grams tokens offering. Industry news outlet Coindesk reported on Dec. 7 […] Cet article SEC Requests UK’s Intervention to Force Telegram’s Former Advisor to Testify est apparu en premier sur Bitcoin Central.
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Tezos (XTZ) is Flying High, Gains against USD and BTC

XTZ, the native currency of the self-amending smart contract and DApp platform, Tezos, has registered impressive gains against the USD, BTC and ETH. The token is up 11%, 9% and 10% respectively, exciting token holders who expect further gains going forward. Recently, there has been a lot of debate-and expectations- around the Ethereum competitor following the collapse to new lows. Distinct, Tezos’ on-chain governance allows token holders to vote and determine changes of code averting chain splits which can be disastrous to the platform’s valuation and an unwelcomed distraction to the initial vision. Binance Staking Supports Tezos (XTZ) Although specific details around the main bull triggers are scarce, based mostly on oblique remarks, analysts and commentators are pointing fingers at Binance’s staking support announced three days ago. I'm not even 100% sure what tezos does, but I know its going to $100. Why get lost in the weeds? — Jeremy Ross (@jebus911) December 6, 2019 According to Binance, the world’s leading cryptocurrency exchange by trading volumes and aggressively expanding to cover as many regions as possible, they will support zero fee staking on XTZ. Official support started on Dec 4 but it will complete the first distribution of rewards by the 20th day of the following month. “XTZ rewards will be calculated daily based on live snapshots and distributed monthly. Distributions will be completed before the 20th day of each following month. Starting from 2019/12/04, Binance will begin taking hourly snapshots of user XTZ balances.” Binance supports staking-or locking of coins of particular Proof of Stake network, in exchange for rewards. By locking coins for a specific period, owners receive rewards for bolstering the network’s security. Gendarmerie’s Cybercrime Division (C3N) Using Tezos The announcement was a direct boost for XTZ and comes a few days after the French Armies and Gendarmerie’s Information and Public Relations Center acknowledged that they have been using the blockchain to record and subsequently validate expenses incurred during judicial investigations. Through a press release, the Gendarmerie’s cybercrime division (C3N) said they used a system developed by Nomadic Labs to buy the coin from a Euro-pool allocated fund to cover operations cost. DigiFinex Lists XTZ On Dec 6, DigiFinex exchange announced their official support of XTZ. Deposits and withdrawals will begin starting on Dec 9, while official trading will start on Dec 11. The exchange will initially support the trading of XTZ/BTC and XTZ/USDT pairs. We are listing Tezos (XTZ) @tezos, a self-amending cryptographic ledger. ✦XTZ deposit & withdrawal open: 9 Dec, 2019 10:00 (GMT+8)✦XTZ trade opens: 11 Dec, 2019 10:00✦XTZ trading pairs: XTZ/USDT, XTZ/BTC pic.twitter.com/CawEjB3TJk — DigiFinex Exchange (@DigiFinex) December 6, 2019 The post Tezos (XTZ) is Flying High, Gains against USD and BTC appeared first on Coingape.
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