Part 2: Overview of Ethereum Forks

Part 2: Overview of Ethereum Forks

This is the second part of the yesterday’s article on cryptocurrency forks. This article aims to fill readers in on the history of Ethereum hard forks before the Constantinople meeting, which is scheduled to take place today, August 31

Ethereum Constantinople

Ethereum Constantinople is an upcoming hard-fork of Ethereum. Constantinople is the second stage of the Metropolis upgrade. It seeks to reduce transaction fees and improve the overall efficiency of the Ethereum network. Constantinople will introduce four EIPs (Ethereum Improvement Proposals) which will reorganize the way how block hashes are stored and increase the speed of arithmetic in EVM (Ethereum Virtual Machine). The Ethereum Constantinople devs meeting is to take place on August 31 at 14:00 UTC.

Ethereum Classic (ETC)

Ethereum Classic (ETC) forked from Ethereum in July 2016. Ethereum Classic was born as the result of a major attack on the DAO, a failed blockchain rendition of a venture capital fund. Due to a combination of vulnerabilities, the attacker was able to siphon $50 million worth of ethers. To repair the damage, Ethereum forked reverting fraudulent transactions. A relatively large part of the community however did not agree with the decision and stuck with the old chain, hence Ethereum Classic. It is one of the more popular forks with an hourly average of 2,000 transactions.

EtherZero (ETZ)

EtherZero (ETZ) is another fork of Ethereum activated in January 2018. EtherZero is promoted as a zero-fee instant-pay smart-contract platform utilizing a masternode system. Despite that, the fork is far from seeing any recognition from the community with the 24-hour trading volume of measly $156.

EthereumFog (ETF)

EthereumFog (ETF) is yet another minor Ethereum fork which split from the main chain in December 2017. Based in China, EthereumFog markets itself as a fog-computing platform which fixes the problem of scalability and is dedicated to building business partnerships. EthereumFog market is largely unpopulated with $372 worth of transactions in past 24 hours.

Ethereum Modification (EMO)

Ethereum Modification (EMO) hard-forked from Ethereum main chain in December 2017. EMO’s features include the template contact, a separate accounts model, and natural fork, as the core concept of the fork. EMO’s official github page and social media accounts do not seem to have much content.


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Poll: Majority Of Respondents Would Rather Buy ICON (ICX) Than Ethereum For Long Term Investment

The 2018 bear market has ravaged Bitcoin and altcoins alike. While Bitcoin has made significant recovery from its 2018 low of $3,200, most altcoins are still battling to find their footing. A Twitter poll involving 4 altcoins shows that users are more willing to buy ICX than other three alts including Ethereum. The poll had 1,842 respondents answer the question “if you have to choose ONLY one alt for the long term, with the highest chance to get back the ATH.” Out of the number, 49% indicated optimism that ICX is most likely to get back to its all-time high while the remaining 3 had 51% of the votes to share.  Not very surprisingly, ETH had the second-highest vote of 31% who would go for it in the hope of getting back to its all-time high and making some profits from it. The next was NEO with 14% of the votes while Ontology (ONT) came last with 6% of the votes, with the least chance of ever seeing its all-time high price again. The poll also gave room for those whose favorite coins were not listed to mention them in their comments. Guess what? ICX was still mentioned roughly 99% of the time, which raises the question of why ICX? Well, ICX is the native token of one of the largest blockchain projects in the world, ICON. It’s working towards bringing blockchain application to the real world in all areas including banking, healthcare, and education. It also provides scalability for both public and private blockchains as well as enabling interoperability between chains. There are several other projects with similar goals but ICX seems to have found a place in the hearts of crypto users worldwide. Its price performance is still subpar as it has lost over 8% in the last 24 hours, ICX supporters, however, believe it’s soon going to reach its all-time high once again. Some experts question the possibility of another alt season but with this level of support, who knows what may happen in the future? The post Poll: Majority Of Respondents Would Rather Buy ICON (ICX) Than Ethereum For Long Term Investment appeared first on ZyCrypto.

Ethereum Price (ETH) Turns Bearish Below $220, Bitcoin Breaks $10.5K

ETH price failed to continue higher above the $230 and $240 resistance levels against the US Dollar. The price started a fresh decrease and broke the key $220 and $218 support levels. Yesterday’s highlighted breakout pattern was breached with support near $222 on the hourly chart of ETH/USD (data feed via Kraken). The pair is now trading below the $220 support and it might decline further towards the $207 support. Ethereum price is struggling to gain bullish momentum versus the US Dollar and bitcoin. ETH price remains at a risk of more loses unless it settles above $220 and $224. Ethereum Price Analysis After trading towards the $240 level, Ethereum price started a downside correction against the US Dollar. The ETH/USD pair traded below the $230 and $225 support levels. Recently, it consolidated above the $220 support level and near the 100 hourly simple moving average. The price made an attempt to climb back above $230, but the bulls failed to gain momentum. As a result, there was a downside break below the $220 support level. The price even settled below $220 and the 100 hourly SMA. Moreover, it declined towards the $210 level and a swing low was formed at $211. At the outset, the price is correcting higher towards the $218 and $220 resistances. It broke the 23.6% Fib retracement level of the recent decline from the $228 high to $211 low. However, the upward move might face a strong resistance near the $220 level. Additionally, the 50% Fib retracement level of the recent decline from the $228 high to $211 low is also near the $220 level to act as a resistance. The main resistance is near the $224 level and the 100 hourly SMA. Therefore, a successful close above $224 is needed for a fresh increase. On the other hand, if the price fails to break the $218 or $220 resistance, it could continue to decline. An initial support is near the $212 level, below which there is a risk of more losses below $210. The next important support on the downside is near the $207 level. Looking at the chart, Ethereum price is trading below a major support near $220. Therefore, there is a risk of more losses below $215 and $211 in the coming sessions. To recover, the price must surpass the $220 and $224 resistance levels in the near term. ETH Technical Indicators Hourly MACD – The MACD for ETH/USD is struggling to gain pace in the bullish zone, with negative signs. Hourly RSI – The RSI for ETH/USD is currently moving higher towards the 50 level, with a minor bullish angle. Major Support Level – $211 Major Resistance Level – $224 Ethereum Price (ETH) Turns Bearish Below $220, Bitcoin Breaks $10.5K was last modified: July 23rd, 2019 by Aayush JindalThe post Ethereum Price (ETH) Turns Bearish Below $220, Bitcoin Breaks $10.5K appeared first on NewsBTC.

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