Constantinople news

Second part of the Metropolis upgrade, includes a foundation for Casper and the ice age.

World latest news

Both Сrypto and In-Game: Why PixelBit is the Ideal Currency for the Gaming Market

Coinspeaker Both Сrypto and In-Game: Why PixelBit is the Ideal Currency for the Gaming MarketGaming is much more than leveling up or rolling а dice. Most popular games have well-developed economies of their own, with a system of rewards and countless artifacts that can be worth hundreds of dollars. Yet, these economies are usually isolated from the real world. PixelBit is a cutting-edge solution that will integrate game economies into the real world and merge them with the booming cryptocurrency industry. This will be possible thanks to a unique set of advantages that PXB tokens have over both in-game currencies, fiat money, and other cryptographic coins.PixelBit vs Traditional CurrenciesPixelBit tokens adhere to the ERC20 standard and thus share the same advantages over traditional fiat money as Ethereum. Transactions costs when using PXB are close to zero, which is crucial for gaming, where microtransactions are dominant. PXB is free from any centralized control and thus freely available to users in any country, including those who have trouble making deposits in their local currency when playing games or making bets. PXB transactions are securely recorded on a blockchain, drastically reducing the risk of fraud. Finally, tokenized payments on the Ethereum network will soon become near-instantaneous with the introduction of the major Constantinople update and other novel features aimed at scaling the Ethereum blockchain.PixelBit vs Other CryptocurrenciesCryptocurrencies like Bitcoin and Ethereum had their moment of glory in late 2017 and early 2018, when the price of 1 BTC reached $20,000. At that moment, large-scale global adoption seemed imminent… and yet, it didn’t happen. Cryptocurrency is accepted by a limited number of online stores and services, and its real-world usability compared to fiat money remains debatable.PixelBit tokens offer a key advantage that many other cryptocurrencies lack: they have a clear-cut use case and a tech-savvy target audience. The gaming and gambling markets are ready for the introduction of a universal, cross-platform currency that will allow users to get rewards, trade in-game artifacts, play casino games, and make sports bets – all with one token. Since PixelBit has built its cryptocurrency on the popular ERC20 standard, players and bettors will be able to withdraw their PXB from a game or gambling site in just moments and send it to their cryptocurency wallets, a crypto exchange, or a P2P exchange service.Many games have massive virtual economies – for instance, the gold-mining industry in World of Warcraft has crossed the $2 billion mark on some occasions. The use of PXB tokens instead of traditional in-game money units (which have no value outside of the game) will boost the token’s adoption and ensure active, non-speculative circulation – something that Bitcoin and other cryptocurrencies lack. It should also be noted that since the emission of PXB will be finite and limited, there will be no risk of environmental costs, which distinguishes PXB favorably from proof-of-work currencies such as BTC, that require enormous amounts of electricity to be mined.PixelBit vs In-Game CurrenciesBeing able to trade artifacts and earn rewards is one of the most attractive features of any game. Yet, until now, players have been unable to use their in-game currencies outside of a specific game. PixelBit will change that: In-game rewards will finally have real-world value. A player who reaches a certain level in a game or sells a valuable skin and receives PXB tokens in return can almost instantly transfer them to his or her crypto wallet or to a P2P exchange. Thus, playing games can become a source of income – something that will surely increase the motivation of players.Game publishers and developers will also benefit: As more and more game transactions are performed using PXB, the market value of the tokens they hold will increase. This means that by purchasing a supply of PXB at an early stage, publishers and developers can expect to have more liquid capital several years down the line.A crucial benefit of PXB tokens as an in-game currency is that they can be used across an unlimited number of games built on various engines (Unity, Unreal, GameMaker, etc.), as well as in blockchain-based games. A player who has accumulated some PXB thanks to his or her success in one game can easily take the tokens to a new game.PixelBit is currently wrapping up work on its API kit and preparing for the main rounds of its token sale. Additional details are available here.Both Сrypto and In-Game: Why PixelBit is the Ideal Currency for the Gaming Market

Ethereum’s Serenity PoS Roadmap Out

A limited roadmap for the 2.0 Serenity upgrade that will switch Ethereum to Proof of Stake (PoS) from a Proof of Work (PoW) consensus protocol has been unveiled. The Ethereum ecosystem now has a timeframe to look out for starting later this year. The planned upgrade dubbed the final iteration in Ethereum’s evolution, or Ethereum 2.0, will kick off with the Istanbul hard fork slated for October (it will include updates on ProgPoW). It should be recalled that the network had the Constantinople fork in February also as a grand part of the Serenity upgrade which is expected to happen in multiple stages. There have been indications of the expected phases in the past but this is the first time an estimated timeline is identified with the four major stages. Phase 0 will be for the PoS blockchain, Beacon Chain, in 2019 onwards while phase 1 will see Shard Chains come up in 2020 to improve scalability. By 2020 or 2021, phase 2 is expected to kick in the introduction of eWASM which will be an upgrade of the Ethereum virtual machine. Phase 3 will be for continued improvement starting from 2022 and beyond. According to Ethereum’s lead developer, Vitalik Buterin, Serenity is a combination of pure Casper’s PoS with sharding, eWASM and other ideas derived from their research since 2014. It is the fourth stage after Frontier, Homestead and Metropolis. It will bring about a new blockchain going by its data structure but with a link to the existing PoW chain. It will be a new but connected system that will in the long term host all applications on the existing Ethereum blockchain once it is certified stable enough. “Serenity is also ‘the world computer’ as it is really meant to be,” Buterin notes in his 2018 Devcon speech . He explains further that the Beacon Chain is to run like a dummy chain (with no applications) parallel to the existing Ethereum 1.0 chain for validators to execute the running of the PoS algorithms – halfway between the testnet and the mainnet. Initially, users may only be able to send ether from the existing chain to the Beacon Chain (but not the other way round) as a validator by locking 32 ether in a smart contract. The sharding part for data turns on in phase 1 without the capabilities to build smart contract applications. State transitions including the virtual machine and account contracts would be enabled in phase 2 to allow ether being moved between shards. Phase 3 is for the improvement of all the basic features that Serenity will introduce. They include a projected 1000x scalability and faster transaction confirmation time (about eight to 16 seconds). Layer 2 solutions are to come later to preserve privacy of coin transfers. Also expected in the post-Serenity stage is the implementation of ‘semi-private chains’ on the Ethereum platform. This enables the building of applications on the public chain but the data kept private between a few users in an encrypted form.

The Roadmap to Serenity

What is Serenity, what are the plans for Ethereum 2.0, and when will it happen?Ethereum’s history has been one of consistent improvements and upgrades to the core protocol. After February’s Constantinople upgrade and the upcoming Istanbul hard fork, the Ethereum community is approaching Serenity, the eventual and final iteration in Ethereum’s evolution. Serenity — explained in detail in Vitalik’s 2018 Devcon speech — will take place in multiple stages, each estimated a year apart from each other. Ethereum 2.0 — as Serenity is also known — is being guided by five design principles: Simplicity, Resilience, Longevity, Security, Decentralization. The gradual approach to Serenity is meant to ensure all principles are developed and upheld, further positioning Ethereum as a market leader in blockchain-based solutions.But First — IstanbulBefore Serenity, Istanbul is currently the last planned hard fork after the Constantinople upgrade in February of this year. Istanbul is estimated for October 2018, and there are currently 11 EIPs proposed for inclusion in the fork, including EIP 1057 [ProgPoW].The issue of ProgPoW has been heavily discussed in the Ethereum community for a while. The EIP proposes switching the protocol’s mining algorithm to ProgPoW, an algorithm that reduces the advantage ASICs have over GPUs in mining efficiency. ASICs (Application-Specific Integrated Circuits) and GPUs (Graphics Processing Units) are both pieces of hardware used to mine crypto. ASICs are highly-specialized pieces of hardware that can typically mine crypto more efficiently and thus yield a greater profit. They are, however, coin-specific, meaning a Bitcoin ASIC is only applicable to the Bitcoin blockchain and an Ethereum ASIC is only applicable to the Ethereum blockchain. Though effective, ASICs are costly and harder to come by, potentially leading to centralization risks if the mining pool becomes limited to those who are able to get their hands on ASICs (so the argument goes). GPUs, by contrast, are general purpose computation tools, and can be used for complex calculations for a number of computational use cases. In contrast to ASICs, GPUs can be used to mine any coin and are generally widely available. They do not, however, carry the same specialized computing power as ASICs, and therefore are typically less efficient and less profitable than ASICs. If approved, EIP 1057 would implement the ProgPoW algorithm, which is an ASIC-resistant algorithm, effectively removing the efficiency ASICs have over GPUs and rendering them equally effective at mining Ether, and consequently ensuring the decentralization of the network (again, so the argument goes). The Ethereum core devs appear to be in general support of ProgPoW, but have launched third-party audits of the algorithm before making a final decision.Phase 0: The Beacon Chain | 2019Expected in 2019, the first phase of Serenity will see the rollout of the Beacon Chain. The Beacon Chain is a Proof of Stake blockchain and will mark the execution of the long-planned switched from proof of work to proof of stake consensus mechanism. The Beacon Chain will be stood up and will run alongside the original Ethereum PoW chain, ensuring there is no break in the continuity of the chains. In its earliest form, the Beacon Chain has three primary responsibilities:Managing the proof of stake mechanismProof of Stake is the consensus mechanism in which the network stakes ETH (as opposed to expending energy to mine) in order to continue finalizing blocks into existence.Processing CrosslinksCrosslinks are the main way that the Beachon Chain can determine and secure the state of shard chains. Shard chains will be released in Phase 1, so this update is in preparation for Phase 1.Direct consensus and finalityThe Beacon chain provides finality through PoS and (what was formerly known as) Casper FFG. PoS dictates that 2/3 of validators must stake ETH on the next block, meaning the financial incentive is much riskier for potential malicious actors.Phase 1: Shard Chains | 2020Shard chains are a core feature to future scalability on the Ethereum network. As an overall concept, sharding splits the data processing responsibility of a database (decentralized or otherwise) among many nodes, allowing parallel transaction, storing, and processing of information. This is in opposition to the existing Ethereum mainchain, which requires each full node to process & validate each transaction.Serenity Phase 1 will address finality and consensus on shard chains. The shard chains in Serenity’s Phase 1 will be more of a “test run” for shard chains than the release of an immediately-scalable solution. The Beacon Chain will monitor the execution of these shard chains. A validator will stake 32 ETH and be randomly assigned to serve as a validator on a specific shard chain (the randomness ensures the assignment of validators to shard chains is not predictable, which would lead to a chance of manipulation). According to the Ethereum 2.0 specs, the Beacon Chain will support 1024 shard chains, each of which will be validated by a collection of 128 nodes.Phase 2: eWASM | 2020 or 2021In Phase 2, the functionality of Ethereum 2.0 comes together. With the introduction of a new Virtual Machine — Ethereum-flavored Web Assembly (eWASM) — shard chains evolve from fairly rudimentary data markers to fully-functional transactional chains, capable of scaling the Ethereum network.In order for a blockchain ecosystem to operate, nodes must execute transactions and smart contracts in a virtual machine. Ethereum 1.0’s virtual machine was called the Ethereum Virtual Machine (EVM). With the switch to Ethereum 2.0 and the Beacon Chain, the network’s virtual machine will be upgraded to eWASM, a virtual machine based off Web Assembly, which is defined by the World Wide Web Consortium (W3C) as an open-source standard. Because WASM supports a number of coding languages, eWASM could allow smart contracts written in any language to be executed on Ethereum, as opposed to just ones written in Solidity in today’s EVM.“Ethereum 1.x”It is important to note that during Serenity Phase 0, 1, and 2, the original PoW Ethereum chain will not go away. It will continue to be maintained alongside the Beacon Chain, with the miners on the original PoW chain still being rewarded in ETH through traditional forms of mining. Gradually, as the ecosystem transitions over to the Beacon Chain, the PoW chain may be phased out if the Difficulty Bomb renders it computationally obsolete [“may” because some advocate for its permanent continuation]. As the Beacon Chain is being tested and proven, improvements will still be made on the original Ethereum 1.0 chain. This series of upgrades and hard forks is referred to as “Ethereum 1.x” and will ensure the current Ethereum mainchain undergoes continued upgrades to meet ecosystem demand and adoption as the Beacon Chain scales.The team behind Ethereum 1.x is still in the early phases of establishing a roadmap, but they have determined three overarching goals for Ethereum 1.x upgrades:Mainnet scalability boost by increasing the tx/s throughput (achieved with client optimizations that will enable raising the block gas limit substantially)Ensure that operating a full node will be sustainable by reducing and capping the disk space requirements with “state fees”Improved developer experience with VM upgrades including eWASM and a different transaction fee model that would stabilize overall transaction fees.Working on the finality gadget to link Ethereum 1.0 and 2.0 by using the Beacon Chain to finalize Ethereum 1.x blocks.More information about Ethereum 1.x and the team behind its continued improvements and upgrades can be found here and here.Phase 3: Continued Improvement | 2022Beyond Phase 2, the timeline for Ethereum begins getting less specific. One this is certain — developers will continue working on pressing matters and improving the protocol to meet the growing demands of blockchain technology. Among the continued improvements being discussed: light client state protocol, coupling with mainchain security, and super-quadratic or exponential sharding. And, somewhere beyond, “Ethereum 3.0,” the next phase in Ethereum’s consistent evolution.More from ConsenSysDisclaimer. The views, information, and opinions expressed are solely those by the author above do not necessarily represent the views of Consensys AG. They are meant for informational purposes only, are not intended to serve as a recommendation or investment advice to buy or sell any securities, cryptoassets, or other financial products.The Roadmap to Serenity was originally published in ConsenSys Media on Medium, where people are continuing the conversation by highlighting and responding to this story.
Consensys Media

A Short History of Ethereum

An overview of the upgrades and hard forks of Ethereum’s past, with an eye towards what lies ahead.From a bird’s eye view, blockchain technology has not been around for a long time. Though the foundational concepts (cryptography, decentralization, peer-to-peer networking & transaction) have been studied for decades, not until Bitcoin’s release in 2008 can all those components be confidently seen as having come together to create a functional product. Ethereum in particular has been around in usable, public format only since 2015. Though the dates and details of its projected evolution have changed, Ethereum has stuck with its plan to consistently upgrade the protocol to ensure improved usability, security, functionality, and decentralization.With the recent Constantinople upgrade in February, Ethereum is on the cusp of Serenity, to be reached through a series of updates. To understand where we are going, however, we must look back at and understand from where we came. This timeline looks at the history of Ethereum’s significant (un)planned hard forks and upgrades in preparation of its next phase of evolution.Olympic | May 9, 2015The Ethereum blockchain sprung into public existence in July 2015. The immediate step before that, however, was Olympic — the ninth and final proof of concept open testnet, available to developers to explore what the Ethereum blockchain would look like once released. Vitalik announced a total reward of 25,000 ETH to developers who spent their time stress-testing the network. The request was clear: try to overload the network and do “crazy things with the state” to provide insight into how the protocol would handle high traffic. Developers were given four categories to test: Transaction Activity, Virtual Machine Usage, Mining Prowess, and General Punishment.Frontier | July 30, 2015After a couple months of stress testing, the Ethereum network was ready for the official public mainnet launch. On July 20, Ethereum’s genesis block was mined into existence and the community began to grow. A few months before the Frontier launch, Vinay Gupta published a note about Ethereum’s launch process. Amidst paragraphs of excitement are warnings to potential users. Frontier, he claimed, was Ethereum “in its barest form” and developers should take caution. Just days before the Frontier launch, Stephen Taul echoed Gupta’s warning to developers: “Like their counterparts during the American Frontier, these settlers will be presented with vast opportunities, but will also face many dangers.”The Frontier protocol contained a series of crucial characteristics:Block Reward: When miners successfully mines a block into existence on the Ethereum blockchain, they receive a reward in ETH. Frontier was launched with block reward of 5 ETH per block.Gas: During the first few days of Frontier’s existence, the gas limit per block was hardcoded at 5000 gas. Basically, this meant nothing could happen on the network. This was purposefully implemented to give a few days of buffer time to allow miners to start their operations on Ethereum and to allow early adopters to install their clients. After a few days, the gas limit was automatically removed and the network became capable of handling transactions and smart contracts as it was meant to.Canary Contracts: Canary contracts were included into Frontier to notify users that a particular chain was bad or vulnerable. Canary contracts were given either a 0 or a 1. Contracts that had an issue were given a 1 and clients were notified so they would not mine off that broken chain. Essentially, the canary contracts capabilities gave the core Ethereum dev group the ability to stop an operation or transaction on the network should something begin to go wrong. Canary contracts were a heavily centralized but necessary protection mechanism early in Ethereum’s existence.Usability: All developer actions were done with command lines; there was no Graphical User Interface in existence. The network was usable, but the UI was rough and its capabilities were largely limited to people with existing knowledge and experience with Ethereum.Homestead | March 14, 2016The Homestead upgrade was the first planned hard fork of the Ethereum network and was implemented on May 14th, 2016 with block number 1,150,000. Overall, the Homestead upgrade included three major improvements to Ethereum. First, it removed the canary contract functionality, removing that point of centralization on the network. Second, it introduced new codes in Solidity, the programming language used on Ethereum. Last, it introduced the Mist wallet, which allowed users to hold/transact ETH and write/deploy smart contracts.The Homestead upgrade was one of the earliest implementations of Ethereum Improvement Proposals. EIPs are recommendations made to the community that then, if approved, are included in network upgrades. The Homestead upgrade included three EIPs:EIP-2: Main Homestead upgradesEIP 2.1: Increased the cost for creating smart contracts via a transaction from 21,000 gas to 53,000 gas. The cost to create a contract via another contract — the preferred method — had cost more than creating it via a transaction. By increasing the gas cost to create contracts via transactions, EIP 2.1 incentivized users to return to creating contracts via other contracts.EIP 2.2: “All transaction signatures whose s-value is greater than secp256k1n/2 considered invalid. The ECDSA recover precompiled contract remained unchanged and kept accepting high s-values; this is useful e.g. if a contract recovers old Bitcoin signatures.” [source]EIP 2.3: Dictated that if a contract did not have enough gas to complete the operation, the contract would “fail” rather than create an empty contract. This changed the possible outputs of a transaction from [success] [fail] or [empty] to just [success] or [fail].EIP 2.4: Eliminated an incentive that allowed users to create blocks with slightly higher difficulty — i.e. blocks that would be more likely to be mined. This upgrade stabilized block times between 10–20 seconds and restored the network to its overall target time of ~15 seconds per block.EIP-7“Adds a new opcode, DELEGATECALL at 0xf4, which is similar in idea to CALLCODE, except that it propagates the sender and value from the parent scope to the child scope, ie. the call created has the same sender and value as the original call.” [source]EIP-8: Future UpgradesEIP-8 was an Improvement Proposal with an eye towards future, planned network upgrades. The improvement ensured all client software on Ethereum could accommodate future network protocol updates.DAO Fork | July 20, 2016In the history of planned Ethereum upgrades and hard forks, the unplanned DAO incident deserves inclusion. In 2016, a Decentralized Autonomous Organization called The DAO raised $150 million USD in a token sale for funding. In June, the DAO was hacked and $50 million worth of ETH was stolen by an unknown hacker. The Ethereum community at large decided to hard fork the chain in order to restore the funds to their original wallets and patch the vulnerability. The hard fork, however, was contentious, and some in the Ethereum community continued to mine and transact on the original chain. The original chain — with the stolen ether not returned — became Ethereum Classic, which has become weaker and subject to exploitation over time. The majority of the community and the core developers continued working off the forked chain — with the stolen ETH returned to their original owners — which is what we now know as the Ethereum blockchain.Metropolis: Byzantium | October 16, 2017The next stage of Ethereum’s roadmap was known as Metropolis, and it would take place in two phases: Byzantium and Constantinople. Byzantium went live in 2017 at block 4,370,000 and included nine EIPs, including:EIP 100Adjusted the formula to assess the difficulty of a block to take into account uncle blocks. The new formula provided stability to the issuance rate, ensuring it could not be forced upward by manipulating uncle blocks.EIP 658For blocks following the Byzantium upgrade, transaction receipts included a status field to indicate success (represented by 1) or failure (represented by 0).EIP 649The Difficulty Bomb is a mechanism that, if activated, would increase the energy required (i.e. the ‘difficulty) to mine a new block until it becomes impossible and no new blocks can be mined. At this point, the Ethereum network would become ‘frozen.’ The Difficulty Bomb was originally included in the network in September 2015. Its purpose is to support the eventual transition away from Proof of Work towards Proof of Stake. When PoS is implemented, miners could theoretically choose to support the old PoW chain, thus causing a split in the community and the creation of two separate chains — one maintained by stakers and one maintained by miners. The solution for this not to happen is to implement the Difficulty Bomb, which would eventually phase out the efficacy of mining and allow for the complete transition of the network over to PoS without the threat of a contentious hard fork. Delay of the ice age / difficulty bomb by 1 year, and reduction of block reward from 5 ETH to 3 ETHAn overview of the remaining Byzantium EIPs (140, 196, 197, 198, 211, 214) found here.Metropolis: Constantinople | February 28, 2019The second part of the Metropolis upgrade, named Constantinople, was scheduled to go live at block 7,080,000 — estimated in mid-January 2019. On January 15th, an independent security auditing firm named ChainSecurity published a report that indicated one of the five main system upgrades could provide attackers with the opportunity to steal funds. In response to the report, core Ethereum developers and the extended community voted to delay the upgrade until the security loophole could be resolved. Later that month, the core developers announced the upgrade would take place at block 7,280,000. Block 7,280,000 arrived on February 28th and the Constantinople hard fork upgrade went live. Today’s Ethereum network is in the Constantinople phase.EIP 145: Bitwise Shifting InstructionsAdded Bitwise shifting instructions to the Ethereum Virtual Machine (EVM). The instructions allow for bits of binary information to move to the left and to the right. This improvement means the execution of shifts in smart contracts will be 10x cheaper.EIP 1052: Smart Contract VerificationAllowed for smart contracts to verify one another by pulling just the hash of the other smart contract. Before Constantinople, smart contracts would have to pull the entire code of another in order to verify, which took time and energy to perform.EIP 1014: CREATE2Improved the enablement of state channels, an Ethereum scaling solution based on off-chain transactions.EIP 1283: SSTOREReduced the gas cost for the SSTORE operation. This reduction enables multiple updates to occur within a transaction more cheaply.EIP 1234: Block Rewards & Difficulty Bomb DelayComprised of two components: Block Reward Reduction and Difficulty Bomb Delay.Block Reward ReductionRewards for miners were reduced from 3 ETH per block to 2 ETH per block. This reduction is known as the “Thirdening.”Difficulty Bomb DelayEIP 1234 delays the implementation of the Difficulty Bomb for another twelve months, at which point it will be voted upon again.Looking Ahead: SerenityLooking ahead, Serenity is the next step for the Ethereum blockchain. Serenity will be largely defined by the complete switch from Proof of Work to Proof of Stake, but will include other important upgrades. Notably, the introduction of the Beacon Chain, Sharding, and the switch from the Ethereum Virtual Machine (EVM) to Ethereum-flavored Web Assembly (eWASM). Keep an eye out for the next article on Serenity.Disclaimer. The views, information, and opinions expressed are solely those by the author above do not necessarily represent the views of Consensys AG. They are meant for informational purposes only, are not intended to serve as a recommendation or investment advice to buy or sell any securities, cryptoassets, or other financial products.A Short History of Ethereum was originally published in ConsenSys Media on Medium, where people are continuing the conversation by highlighting and responding to this story.
Consensys Media

Samsung, JP Morgan—Microsoft are Ethereum (ETH) Primers, Next $250?

Ethereum (ETH) up 21.7 percent The platform is way ahead of competitors and could replace Bitcoin as a store of value Mike Novogratz is an experience institutional investor is positive on Ethereum (ETH) saying that the platform is “way ahead.” His comments mirrored our previous assertion and reflected on the level of on-chain development gauged from the number of monthly active developers. In a bullish breakout pattern, it is likely prices will expand towards $200 and $250 in days ahead. Ethereum Price Analysis Fundamentals In the race to superiority, Ethereum is ahead of competitors. Not in terms of price—it has been one of the poorest performing digital asset before Apr-May upswings, nor scalability or speed, but in on-chain development and preference by government agencies. Thanks to the network’s smart contracting capabilities and specific improvement through the last Constantinople hard fork, traders are expecting a freeze before Serenity. The EIP 1234 and reduction of rewards are all part of the strategy and with Ethereum 2.0 on course and likely to launch without delays if Vitalik Buterin’s word is correct, then Ethereum will no doubt be a to-go platform that developers prefer to build on because of its level of decentralization. Apart from that, Mike Novogratz’s, a Bitcoin proponent, the endorsement is a big plus. During the Ethereal Summit, the founder of Galaxy Digital Group said Ethereum (ETH) should eclipse Bitcoin’s stature as a store of value asset simply because of the rate of development within the platform. Add that to recent partnerships as Microsoft, and JP Morgan plans of integrating Quorum to Azure Blockchain Service, rumors of Samsung launching from Ethereum and possibility of an Ethereum derivative that the CFTC is warming up to the idea, the future looks bright for Ethereum (ETH) investors. Candlestick Arrangement From price action, buyers are in control. Ethereum (ETH) like the rest is up 21.7 percent from last week’s close but pretty stable on the previous day. It is up 8.7 percent, trading above $190, our ETH/USD trade conditions are right. For bulls to be in control, we reiterated that ETH prices must clear Apr-2019 highs. As a result, at spot rates, every low is technically another buying opportunity as price action replicate Bitcoin’s. At this rate, traders should be loading on dips with first modest target at $250. That stance will hold more weight if today’s close is above $200. Technical Indicators In the daily chart, there  is a clear bull breakout pattern. As a result, traders ought to fine-tune entries buying on dips with targets as above. However, for trend continuation, prices should expand above $200. Nonetheless, maintaining that momentum should be high volumes exceeding averages of 187k and May-11’s 458k. Chart courtesy of Trading View Samsung, JP Morgan—Microsoft are Ethereum (ETH) Primers, Next $250? was last modified: May 13th, 2019 by Dalmas NgetichThe post Samsung, JP Morgan—Microsoft are Ethereum (ETH) Primers, Next $250? appeared first on NewsBTC.

Ethereum [ETH] Co-founder: Casper will be most secure and will enable greatest decentralization

Ethereum [ETH], the second largest cryptocurrency on the charts, has been in the news multiple times owing to its forks such as Constantinople and Istanbul, and upcoming upgrades such as Casper. In a recent interview with Tom Shaughnessy, Joseph Lubin, Chief Executive Officer of Consensys and one of the Co-founders of Ethereum, spoke about the foundation of Ethereum’s Proof of Stake [PoS] route and the future roadmap. Lubin stated, “I am not inclined to point to moments in the past and look at mistakes, in my opinion, those roadblocks are a learning curve that builds momentum. One good example is looking at PoS because one of the first things we agreed on back in 2014 was that ETH should be based on the PoS blockchain and later we shifted to a PoW method. The PoS method is still an integral part of Ethereum’s development.” Lubin was of the opinion that the upcoming Casper PoS will not only be the most secure, but will also enable the greatest decentralization as it will not allow large scale installations to benefit unduly. According to the CEO, the barrier entry to validate transactions will be low, which in turn will boost its adoption rate. He assured users that they will be able to implement Casper on any type of device, with the added advantage of lower electricity consumption. Casper also aims to bring in the full validator pool to 1024 shards on Ethereum 2.0, rather than splitting the validator pool into individual units. Casper has had its fair share of critics, as evidenced by Pyrofex’s Nash Foster, who had stated that projects trying to use Casper will never deliver. In Foster’s words, “Casper’s problem is that it’s quite easy for the mechanism to get stuck. It’s like a kid who can’t decide between chocolate and vanilla ice cream and goes back and forth perseverating over which one it wants. Now, in the analogy, your mom eventually yells at you to make up your mind, but in the blockchain, there is no ‘mom’ to do that and the Casper mechanism can get stuck.” The post Ethereum [ETH] Co-founder: Casper will be most secure and will enable greatest decentralization appeared first on AMBCrypto.
More news sources

Constantinople news by Finrazor


Facebook is searching for talents, Bitmain closes its Israeli branch, Jeremy Henrickson leaves Coinbase, Gemini launches a mobile wallet for crypto traders, Opera adds a crypto wallet to its Android browser, Basis shuts down, the number of crypto users increases, Ethereum software client has published a new code, Ethereum-based Geth software releases update, UAE Exchange partners with Ripple, Revolut obtains a banking license

Read more


Hot news

Hot world news

XRP Spikes 10% on Ripple MoneyGram Partnership News

Big partnership announcements have been thin on the ground for many of the major crypto companies recently. That changed for Ripple a few hours ago when the firm announced a strategic partnership with one of the world’s largest money transfer companies, MoneyGram. XRP Climbs 15% in a Week Compared to bitcoin and litecoin, XRP has been asleep for the past two months. Even Ethereum has outperformed it in terms of percentage gains. That all changed a few hours ago when XRP awoke from its range bound channel at $0.42 and surged almost 10% to hit an intraday high just over $0.46. A minor pullback followed in the hours after the announcement but XRP is still one of the day’s top performers. XRP price 1 hour candles – XRP 00 has climbed almost 15% over the past week as it was trading just under $0.40 this time last Tuesday. Daily volume has just topped $2 billion as XRP market capitalization approaches $20 billion. The gap to ETH in second place is still $10 billion in terms of market cap, however. It has been one of the best weeks for XRP in terms of gains as the Ripple token has only made 27% since the beginning of the year. Big Partnership Driving FOMO The San Francisco based firm announced the partnership on its company blog late last night. It stated that the initial partnership will last two years during which Ripple will become the key partner for MoneyGram’s cross border payments and foreign exchange settlements. A substantial capital commitment of $50 million has also been pledged by the blockchain company enabling MoneyGram to draw it over a two year period in exchange for equity. Ripple’s xRapid system will be deployed for the partnership. It facilitates on-demand liquidity enabling instant transactions by reducing reliance on pre-funding. The XRP token will be used as the ‘real-time bridge’ between different currencies. Ripple CEO, Brad Garlinghouse, stated; This strategic partnership will enable MoneyGram to greatly improve its operations and enable millions of people around the world to benefit from its improved efficiency. This is a huge milestone in helping to transform cross-border payments and I look forward to a long-term, very strategic partnership between our companies. MoneyGram has a $600 billion global remittance market supporting multiple currencies in more than 200 countries. Traditional forex markets requiring advance purchases are currently used for international transfers. The partnership and leverage of Ripple’s native token are expected to reduce costs and increase transfer speeds for the firm. Alex Holmes, MoneyGram Chairman and CEO, added; Through Ripple’s xRapid product, we will have the ability to instantly settle funds from US dollars to destination currencies on a 24/7 basis, which has the potential to revolutionize our operations and dramatically streamline our global liquidity management. Will XRP hit $0.50 this week? Add your comments below. Images via Shutterstock, The post XRP Spikes 10% on Ripple MoneyGram Partnership News appeared first on

XRP Gains 5% as Ripple Forms Strategic Partnership with MoneyGram; Last Resorts for Both Firms?

Ripple bought a share issue from MoneyGram worth $30 million at $4.10 per share to acquire 8-10% of the company. MoneyGram would also have an option of infusing another $20 million over the next two years. A strategic partnership will now ensue where Ripple will become the critical service provider for cross-border payment and foreign exchange settlement using digital assets. The digital asset they will be leveraging is Ripple, using Ripple’s xRapid Product. This partnership is a massive step towards the vision with which Ripple began, and investors put money is XRP. Also Read: Ripple Fathers’ Day Gift Propels It Past $0.4400 as Bulls Return Until now, MoneyGram has had to use banking services to provide settlements for payments they initiate. Due to the difference in time of settling payments, MoneyGram has to take loans to increase the required liquidity. However, by deploying xRapid, they will now be able to leverage XRP’s liquidity to provide cheaper and faster settlements. MoneyGram Chairman and CEO, Alex Holmes noted, “Through Ripple’s xRapid product, we will have the ability to instantly settle funds from US dollars to destination currencies on a 24/7 basis, which has the potential to revolutionize our operations and dramatically streamline our global liquidity management.” MoneyGram reported a net loss of $24 million in 2018 compared to a net loss of $29.8 million for the fourth quarter of 2017. The money transmitting service provider has been working towards developing, and 2019 will be part of the roadmap. Hence, the success of this strategic partnership is crucial for MoneyGram. Also Read: Bitcoin Vs Facebook Coin: Should Bitcoin Hodlers Care About Facebook Coin? Currently, MoneyGram works independently by leveraging money from banks. Ripple CEO Brad Garlinghouse told the media,  “This will eliminate the need to deploy foreign bank accounts. That’s why MoneyGram has negative working capital. It will help customers and also smooth out their treasury operations,” XRP/USD 4-Hour Chart on Bitstamp (TradingView) Moreover, while XRP recorded gains around 5%, it rose from $0.43 to a reach high at $0.46. Notably, a partnership like this back in 2016 or 2017 would have likely propelled the price by 30%. This can be attributed to an apparent decrease in the use case for MoneyGram itself. Digital payment is quickly becoming more accessible than ever with major firms working on implementing or integrating digital currencies on their respective platforms. Facebook is the most prominent example of it. Do you think MoneyGram and Ripple will be able to increase their volume and user base in the current environment? Please share your views with us.  The post XRP Gains 5% as Ripple Forms Strategic Partnership with MoneyGram; Last Resorts for Both Firms? appeared first on Coingape.

Ripple Partners MoneyGram to Enhance Cross-border Payments with XRP

Ripple has secured another major partnership with international money transfer company MoneyGram. This will allow the company to use Ripple’s native token XRP to provide liquidity for international payments to MoneyGram customers. This is in a bid to enhance the speed and efficiency of the payment system that MoneyGram operates. In an interview with Fortune on the partnership, Ripple CEO Brad Garlinghouse said: “This will eliminate the need to deploy foreign bank accounts. That’s why MoneyGram has negative working capital. It will help customers and also smooth out their treasury operations.” The partnership also gives Ripple an 8% to 10% stake in MoneyGram by paying $4.10 per share. This, however, does not give Ripple a voice in the dealings of MoneyGram for now as part of the agreement. MoneyGram, on the other hand, will have the opportunity of reviving its financial standing from Ripple’s investment which it direly needs after its share price crashed significantly.  It will also increase the efficiency of the payment platform, the management said. “We are very pleased with the terms of the Ripple investment which supports the Company with permanent capital and additional liquidity,” Larry Angelilli, chief financial officer of MoneyGram, said in a statement. “This partnership also provides MoneyGram with the opportunity to improve operating efficiencies and increase earnings and free cash flow,” Larry Angelilli, the chief financial officer of MoneyGram said. Ripple is the leader in remittance services as far as the blockchain industry is concerned. Its xRapid is second to none in terms of transaction efficiency and speed. With the new partnership, XRP which will be used for liquidity will be exposed to MoneyGram’s customers in over 200 countries globally. MoneyGram is the second largest provider of money transfer services in the world and while partnering with Ripple will ensure better service delivery to its customers, it is also a huge breakthrough for Ripple which has been looking to expand its reach further into the world. With hundreds of clients using Ripple’s payment platform, the company has grown significantly thus improving the international remittance settlement market by improving customer experience in conventional financial institutions. The post Ripple Partners MoneyGram to Enhance Cross-border Payments with XRP appeared first on ZyCrypto.

Ripple (XRP) enters key partnership with MoneyGram; invests $30 million

Ripple (XRP) enters key partnership with MoneyGram; invests $30 million - CryptoNinjas MoneyGram, a global money transfer company, announced today it has entered into a strategic agreement with Ripple (XRP), the provider of enterprise blockchain solutions for cross-border payments. The deal will enable MoneyGram to utilize Ripple’s xRapid product, leveraging ripples (XRP) in foreign exchange settlement as part of MoneyGram’s global payment process With an initial term […] Ripple (XRP) enters key partnership with MoneyGram; invests $30 million - CryptoNinjas

Ripple Announces Game-Changing Partnership With MoneyGram

By CCN Markets: Ripple announced a partnership with money transfer giant MoneyGram today. Two Year Exclusive Agreement, Ripple and MoneyGram According to Ripple Labs, a two-year partnership has been struck with MoneyGram which makes Ripple its exclusive digital assets partner. The purview of Ripple’s use case here might be more limited than expected. It depends on how many of the transactions are sent and received using Ripple’s technology and how much they’re worth. Whatever the case, the partnership doesn’t, for example, mean that you’ll be able to buy and sell XRP at any MoneyGram location. Something along those lines would The post Ripple Announces Game-Changing Partnership With MoneyGram appeared first on CCN Markets
By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.