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The final stage of Ethereum development which enables a basic transition from hardware mining (proof-of-work) to virtual mining (proof-of-stake).

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Ethereum Price Analysis: ETH Soars This Week Adding 10.5% But The Future Is Even Brighter In Serenity

Today’s Ethereum (ETH) News Truth is, there is more to what Ethereum is. Envisioned as a World’s computer where decentralized applications controlled by smart contracts could be built, Ethereum has evolved into an indispensable and truly decentralized network. Combining its capabilities with globally distributed developers keen on thrusting the network towards its goal, Ethereum is […]
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Ethereum celebrates fifth anniversary with impressive network stats

On the fifth anniversary of Ethereum’s 2014 pre-sale, ConsenSys took a look back at the network’s history. This year has proved to be critical for Ethereum with data showing that it managed to rise from the 2018 crypto crash better and more popular than ever. World’s second-largest cryptocurrency boasts with better-than-ever stats Ethereum, the world’s second-largest cryptocurrency and one of the most popular blockchain networks on the market, is currently celebrating its fifth anniversary. Its pre-sale started in mid-2014 and saw a whirlwind of activity in its lifetime. Ethereum incubator ConsenSys took a look back at Ethereum’s history and highlighted the success the network has seen in 2019. According to the company’s post, the Ethereum mainnet has processed over 500 million transactions since its inception. Over 130 million transactions have been processed in this year alone and the network utilization currently hovers around 90 percent. Around 16 million Ethereum addresses have been created since the beginning of the year—a testament to the network’s rising popularity. There are currently over 70 million unique addresses on Ethereum, but only 616,000 of them were active and engaged in transactions on the network. The network is also slowly transitioning towards proof-of-stake. After undergoing the Constantinople hard fork back in February, Ethereum is now inching closer to its much-anticipated Serenity update. Such a huge increase in popularity and usage isn’t accidental—Deloitte’s 2018 report found that 95 percent of companies plan to invest in blockchain technology in 2019, while 84 percent believe blockchain is eventually scalable and will achieve mainstream adoption. With Ethereum being the world’s largest blockchain platform, it could become the go-to network for companies looking to enter into blockchain. Ethereum has the highest number of developers working on the core protocol To support the ever-increasing number of users and transactions, the Ethereum network needs constant upkeep. An Electric Capital Dev Report from March showed that Ethereum had the highest number of developers working on core protocol. It outranked Bitcoin, which has a much larger market cap, and research-oriented Cardano. The study found that Ethereum had the most robust and consistent developer growth, with an average of 240 active developers in January 2019. This represented an increase of 23 percent from the 190 developers that worked on the network in 2018. (Source: Electric Capital) With hundreds of developers working on the network, it’s no wonder that Ethereum is also the network with the highest number of code commits. According to Electric Capital, Ethereum has 8 times more commits than Bitcoin and 20 times more commits than XRP. (Source: Electric Capital) The work put into Ethereum is what gives companies the confidence to build and host their dApps on the network. ConsenSys said that of the top 50 dapps as ranked by State of the Dapps, 29 of them are built on Ethereum. However, looking into use case-specific dApps, Ethereum becomes much more prominent. Out of the top 50 finance dApps, 42 percent are built on Ethereum. Out of the top 50, 44 exchange dapps and 42 security dapps are built on Ethereum. All of this could point to a hugely successful year for Ethereum. While ETH seems to have hit a few bumps in the past couple of weeks, it seems that it has entered a consolidation phase. We are yet to see how its price holds out when many altcoins appear to be struggling against Bitcoin’s rising dominance. The post Ethereum celebrates fifth anniversary with impressive network stats appeared first on CryptoSlate.
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Serenity Source: Blockchain Ecosystem for Energy on the Go?

Serenity is a multi-functional blockchain-based ecosystem, an energy retailer for the people that focuses on the promotion of sustainable living, renewable energy production, and smart energy grid utility services. Serenity aims to become the incubator for renewable energy-related projects by using the power of THE crowd. The IEO is currently ongoing and will end in […]
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ETH 2.0 Serenity Explained; How Does it Relate to aelf?

Currently, Ethereum ranks as the second-largest crypto or blockchain. It is exceeded only by Bitcoin. For years, it has encountered scalability issues managing just 15 transactions every second. If all goes to plan, all these issues will end in the next three years. Ethereum is set to undergo its biggest facelift since inception. Serenity will impact all blockchain layers enhancing security, scalability, and interoperability. What does Ethereum 2.0 comprise of? Vitalik Buterin presented the concept of this upgrade in 2018 but ConsenSys officially announced it with its roadmap in May 2019. It features several smaller upgrades to be implemented in the next 3 years. Its architecture will be broken up into 4 main components: PoW Main Chain The current Ethereum blockchain as we know it will remain in use as it is. Beacon Chain The chain is currently under development and will become the first component of Ethereum 2.0. It is the main coordination layer that will implement the Casper Consensus (PoS). Under Casper, miners will be replaced with Validators. All validators need to deposit a constant amount of ETH into the Validator Main Contract (VMC). The contract will be stored on the main chain and checked often by Beacon chain to add new validators. The Validators are expected to function in random groups assigned to specific shards. Furthermore, regular reshuffling of every group will be done to minimize collusion risks like 51% attacks. Shard Chains These will come after Beacon Chain and they will deal with scalability issues. Every shard will execute Smart Contracts and store their data performing similarly to a side chain structure. The shards will only execute transactions after the infrastructure and security are tested and confirmed. All account balances, ethereum addresses, and smart contract data will be divided among these shards. Whenever any transaction is sent to the network it will end up in the shard that holds the address that signed the transaction. It will be executed and the validators assigned to the shard will include it in the next block. Thus, it is not mandatory for all validators to confirm the transaction which will increase the confirmation speed. VM (s) This layer makes up the final major component that will feature in the Ethereum 2.0 upgrade. It will provide for the execution of Transactions and Smart Contracts. Serenity Roadmap Since 2015, several Ethereum upgrades have come; Frontier (2015), Homestead (2016), Byzantium (2017), and Constantinople (2019). The last fork, Istanbul, is scheduled for October 2019. Istanbul It currently consists of 30 proposed EIPS, including the controversial and famous EIP 1057 [ProgPoW]. This EIP is designed to eliminate the advantage that Application Specific Integrated Circuits (ASICs) have over other mining hardware. ASICs work with only one hashing algorithm. ASICs are inefficient in the long-term since they can easily become obsolete if a hash is changed like what is planned for Ethereum. They are also quite expensive and hard to get which results in a more centralized network than desired. Although ProgPoW will let ASICs operate, it will remove the advantage they have in performance. Thus, they will become less cost-effective than general-purpose GPUs. 4-Phase Structure The first of the four phases will get implemented after the network becomes ready to initiate Serenity. Phase 0: Beacon Chain – 2019 The phase will see through the roll-out of the Beacon Chain that is the Proof of Stake blockchain expected to oversee and organize the validator network. To avoid disruptions to the continuity of chains, it will run alongside the current PoW blockchain. Its main responsibilities will be processing Crosslinks, managing the proof of stake mechanism, and directing consensus and finality. Beacon Chain offers finality via PoS and Casper FFG. PoS dictate that 67% of validators must stake ETH on the next block. Thus, the financial incentive is riskier for the potential malicious actors. The idea for the beacon chain came from a consensus protocol adopted by Dfinity blockchain project. Phase 1: Shard Chains – 2020 Serenity’s shard structure will split the responsibility for data processing of a database across multiple nodes. Thus, the parallel processing of multiple transactions is possible while simultaneously storing and processing information implemented by multiple shards. That is an improvement from the current Ethereum blockchain that needs each node to process and validate every transaction in a linear process. In this phase, the focus will be on consensus and finality on the shards instead of the full release of shard functionality and it could be treated as a ‘test run.’ The block time is 16 seconds; validators will have to stake 32 ETH while every shard will have 128 validators. 1024 shards will be supported with the minimum exit notice for validators set at 97 days. Phase 2: eWASM – 2020/2021 In this phase, the new Virtual Machine will be introduced. The current EVM will be replaced by the brand new Ethereum-flavoured Web Assembly (eWASM). The shard chains will evolve to become fully functional enabling the scaling of the Ethereum network. Once eWASM is released, ethereum will theoretically support the execution of Smart Contracts written in any language. For now, only Smart Contracts written in Solidaroty are supported. Phase 3: Continued Improvement – 2022 After phase 2, the Ethereum timeline starts to become less specific. But developers are expected to work on any pressing matters that will arise with time to enhance the protocol to meet the growing blockchain technology demands. Coupling with mainchain security, light client state protocol, and super-quadratic or exponential sharding are among the continued improvements being discussed. Please note that the current PoW Ethereum blockchain will remain fully functional running alongside the Beacon Chain. At the end of these phases, the current platform will be assessed to determine whether it has become ‘computationally’ obsolete. What does it mean for aelf? The upgrade will have very little effect on aelf as a business and the technology since the targeted clients for the aelf blockchain are different from those of Ethereum. Most of the enterprises seeking to develop on aelf will need private or hybrid blockchains except customizability. That is technically impossible with Ethereum now and in the near future. Even though Ethereum will introduce sharding for the data processing performance enhancement, it will remain to operate as one blockchain. It will have limited customizability prohibiting users from creating private or hybrid chains. Thus, Ehtereum upgrades will not directly affect the market aelf is focused on. In fact, the only impact will be positive in general since it will increase mass adoption and enlighten the public mindset on blockchain benefits. Also, Ethereum’s scalability will not achieve considerable improvement until 2021. It is anticipated that in 2021 Ethereum will manage to increase performance to almost 15,000 TPS which aelf achieved in their testnet in 2018. Thus, Ethereum is almost three years behind. Serenity has the ability to parallel process with the eWASM allowing smart contracts in multiple languages to be built on Ethereum. That feature was not introduced on aelf in 2018 although language-agnostic functionality is scheduled for after their mainnet launch. Moreover, aelf will enable any consensus protocol and the selection of a private, public or hybrid blockchain setup. Therefore, aelf and Ethereum are different products that target different audiences. Ethereum has leveraged off the ‘first mover’ advantage for some time now. However, that may soon change. Even if the audience will be the same by the time Serenity is completed, aelf will already have launched a fully functioning testnet and had it running successfully for years. Thus, their advantage will turn into catch-up. Like what you're reading? Subscribe to our top stories The post ETH 2.0 Serenity Explained; How Does it Relate to aelf? appeared first on FXTimes.com - Daily Cryptocurrency and FX News.
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ETH 2.0 Serenity — What to Expect & This Will Affect aelf

ETH 2.0 Serenity — What to Expect & Will It Affect aelf?Ethereum is the second largest cryptocurrency or blockchain to date, surpassed only by bitcoin. Even then, it has still been plagued with scalability issues for years, managing only 15 transactions per second. This and other issues are now coming to a close, well over the next 3 years, if all goes to plan. Ethereum will be undergoing, arguably it’s largest facelift since inception. Serenity will impact all layers of the blockchain, revamping the network to deal with scalability, security and interoperability.This article will breakdown the components of this major upgrade and explain the proposed roadmap. Following this, there will be a brief explanation of what this means for aelf. Ethereum is making waves in the blockchain space, but as you will see, they are, in reality, following aelf’s footsteps and are not in the forefront in terms of innovative development.What does Ethereum 2.0 Consist of?The concept of this upgrade was presented in 2018 by Vitalik Buterin, but was officially announced with a roadmap by ConsenSys in May 2019. It consists of a number of smaller upgrades to be actioned over a 3 year period, resulting in a completely new architecture.Ethereum 2.0 overall architecture. Original diagram by Hsiao-Wei Wang.The architecture will be broken up into 4 main components:PoW Main Chain: This is the existing Ethereum blockchain as we know it. It will remain in use as it is.Beacon Chain: This chain is currently under development and will be the first new component in Ethereum 2.0. This is the coordination layer and will employ the Casper Consensus (PoS). Currently the Consensus Protocol uses ‘miners’. Under Casper, these will be replaced with Validators. Any Validator must commit some ‘skin in the game’ by depositing a fixed amount of ETH into the Validator Main Contract (VMC). This contract will be stored on the main chain and is regularly checked by the Beacon chain to add any new validators. Validators will perform in random groups and will be assigned to specific shards. In addition, each group will be reshuffled regularly to ensure collusion risks are minimized, such as 51% attacks.Shard Chains: This is the next component to be released after the Beacon Chain. This is the specific component which deals with the scalability issues. Each shard will execute Smart Contracts and store their data. Basically, each shard will perform similar to a side chain structure. Initially these shards will not execute transactions until the infrastructure and security have been tested and confirmed. All ethereum addresses, account balances and smart contract data will be divided among these shards. When a transaction is sent to the network it will be placed into the shard which holds the address that signed the transaction. It will then be executed and the validators assigned to that shard will then include it in the next block. As a result, not all validators will need to confirm the transaction resulting in a greatly increased confirmation speed.VM(s): This layer is the final major component to be included in the Ethereum 2.0 upgrade. This will provide for the execution of Smart Contracts and Transactions.Serenity RoadmapPrior to the launch of Serenity, ethereum must first complete the last of a series of hard forks. Since 2015, we have seen a number of upgrades — Frontier (2015), Homestead (2016), Byzantium (2017), and Constantinople (2019). The final fork, Istanbul, is planned for October 2019IstanbulThis hard fork is scheduled for October 2019 and currently consists of 30 proposed EIPS, including the controversial and well known EIP 1057 [ProgPoW]. This EIP has been a hot topic in Ethereum communities and has received much debate. It is essentially designed to remove the advantage that ASICs have over other mining hardware. ASICs are Application Specific Integrated Circuits, and are normally designed to work with only one hashing algorithm.There are two main problems with these, firstly that they are inefficient long term since they cannot be used on any other algorithm and can easily become obsolete if a hash is changed, such as what is planned for Ethereum. The second issue is that they are fairly costly and sometimes difficult to obtain resulting in a more centralized network than desired.ProgPoW will still allow ASICs to be used, but will remove the advantage they have in performance, resulting them to be less cost-effective than general purpose GPUs.4 Phase StructureOnce the network is ready to initiate Serenity, the first of 4 phases will be implemented:Phase 0: Beacon Chain | 2019This phase will see the roll out of the Beacon Chain, which is the Proof of Stake blockchain that will oversee and organise the validator network. This will run alongside the existing PoW blockchain ensuring there is no disruption to the continuity of chains.A visualisation of the Beacon Chain (blue) with 8 shard chains (aquamarine) and crosslinks (light blue lines). Finalised blocks on all chains are yellow. Time increases from left to right. Simulator by Casey Detrio.The Beacon Chain will initially have 3 main 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.According to ConsenSys, they explain that the idea for the beacon chain came from a consensus protocol adopted by another blockchain project Dfinity:“The name Beacon Chain has its origins in the idea of a “random beacon” — such as NIST’s — that provides a source of randomness to the rest of the system, and the random beacon concept was adopted in a blockchain context by Dfinity.”Phase 1: Shard Chains | 2020The shard structure of Serenity will split the responsibility for data processing of a database across many nodes. This allows for parallel processing of multiple transactions, storing and processing of information by multiple shards. This is a clear improvement of the current Ethereum blockchain which requires every node to process and validate each transaction in a linear process.During this phase, the focus will be on finality and consensus on the shards, rather than the full release of shard functionality, and as such could be treated as a “test run”.Block Time: 16 SecondsValidator Stake: 32 ETHValidators per Shard: 128No of Shards Supported: 1024Min Exit Notice for Validators: 97 DaysPhase 2: eWASM | 2020/2021This phase will consist of the introduction of a new Virtual Machine. The new Ethereum-flavoured Web Assembly (eWASM) will replace the current EVM. This phase will also see the evolution of the shard chains to be fully functional, allowing the scaling of the Ethereum network.With the release of the eWASM, the ethereum blockchain will theoretically allow Smart Contracts written in any language to be executed on it. Currently only Smart Contracts written in Solidarity are supported.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.Original Ethereum Blockchain will not stop yetIt is important to note that during Phase 0–2, the current PoW Ethereum blockchain will still be fully functional. It will be running alongside the Beacon Chain. At the end of these phases, it will be reassessed if the original chain has become ‘computationally’ obsolete. During this process, the original chain will still receive improvements and upgrades.Are things on Schedule?According to a statement late last year, phase 0 was anticipated for as early as the end of 2018:“the technical specification declares itself to be 60% complete at the time of writing this, and there remains a fairly chunky todo list. Nonetheless, a finger in the air suggests that the spec ought to be reasonably complete by the end of the year, and that perhaps by the end of Q1 2019 we’ll be running a multi-client Beacon Chain testnet.”It is yet to be seen how far off this schedule they are running but the updated timeline now states, sometime in 2019.What does this mean for aelf?This will have very little impact on aelf as a business and the technology for a couple of reasons. First, the targeted clients or audience for the aelf blockchain are different to those of Ethereum. In fact, many of the enterprises that are looking to build on aelf will require private or hybrid blockchains with exceptional customizability, something which is technically impossible with Ethereum, both now and the foreseeable future. Although Ethereum will introduce sharding for the data processing performance improvement, it will still be one blockchain.This means it will still have limited customizability and will not allow users to create private or hybrid chains. So although, Ethereum are improving their system to eradicate some of the existing issues plaguing them, they will not directly affect the market aelf is focused on.In fact, if there is any impact, it will be a positive one as it will aid in the general adoption and public mindset on blockchain benefits.The second reason that this will not affect aelf, is the timeline. According to the roadmap, Ethereum’s scalability will not achieve a serious improvement until 2021, if everything runs to schedule between now and then.If we look at the past few years it is safe to say, that this will be an impressive feat as their track record is anything but running on schedule.It is anticipated that they will manage to improve the performance to around 15,000 TPS. aelf achieved this in their testnet as a base result in 2018. This puts Ethereum about 3 years behind.Another improvement in Serenity, is the ability to parallel process, not an easy task. I know it is not an easy task because it took a lot of effort for our developers to accomplish it. Yes, we also successfully developed a system that can parallel process transactions on blockchain in 2018.Let’s look at the cluster of validators (nodes) assigned to shards. That sounds awfully similar to the cluster nodes assigned to the aelf sidechains, again, developed in the testnet in 2018.One really interesting feature of Serenity is the upgraded VM. This eWASM will allow smart contracts from multiple languages to be built on Ethereum. Granted, this is not a feature that was introduced in last year’s testnet for aelf, but language agnostic functionality is scheduled for one of the early updates after mainnet launch. Not only that, but aelf will also allow any consensus protocol and the choice of a private, public or hybrid blockchain setup, among other customizable elements.So at the end of the day, aelf and Ethereum are different products with different target audiences. Ethereum has been leveraging off the ‘first mover’ advantage for some time now, but this will be changing very soon. Even if we had exactly the same audience, by the time Serenity has been completed, aelf will already have launched a fully functioning testnet with all these features and more, and had it running and perfected for years. So their advantage will turn to a catch-up.Am I excited about the Serenity upgrade to Ethereum — yes. Am I worried about how this will affect aelf — definitely not.https://medium.com/media/3c851dac986ab6dbb2d1aaa91205a8eb/hrefETH 2.0 Serenity — What to Expect & This Will Affect aelf was originally published in HackerNoon.com on Medium, where people are continuing the conversation by highlighting and responding to this story.
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Bitcoin Price Analysis: BTC Shows Strength Following Bakkt’s Launch News, Last Buy-Opportunity Below $10,000?

In our last Bitcoin price analysis, we mentioned the ‘last hope’ for Bitcoin. Good news for the bulls: the Doji candle on the 4-hour chart maintained the price above the significant 4-hour ascending trend-line (marked in bold yellow). In the following day, we saw Bitcoin retesting the line, again getting supported upon the significant news coming upon Bakkt launch date. The news could be a game-changer for Bitcoin, in its way for long-term mass adoption. Bitcoin had recovered nicely from the immediate risk; however, until producing a higher-high on the daily chart, which Bitcoin failed to do at its last attempt around $12,000, the situation is still neutral and fragile in the short-term. Another thing to note is the range Bitcoin is trading at: from above – the MA-200 (marked by light green on the 4-hour chart), while from below is the 100-days moving average line (marked white on the daily chart) along with the above mentioned ascending trend-line. Total Market Cap: $268 billion Bitcoin Market Cap: $185 billion BTC Dominance Index: 69.1% (Dominance again close to 70%) *Data by CoinGecko Key Levels to Watch – Support/Resistance: The nearby resistance now lies around $10,550 (the MA-200 light-green line on the 4-hour chart). Further above is $10,800 along with the 50-days moving average line (marked purple). In case of a break-up, we can expect $11,000 – $11,200 to be the next significant short-term resistance level. The last also contains the descending trend-line, which was started forming amid the 2019 high at $13,880. From below, the current area of $10,200 – $10,300 is the first line of support. Further below is $10,000 and $9,800 (the 100-days moving average line). Below lies $9600 and $9400 (the weekly low). – Daily chart’s RSI: The RSI indicator had found support by the 40 horizontal line. As of now, the RSI lies around 45, still below the 50 significant area, which is the bullish area. However, positive remarks might come from the Stochastic RSI oscillator, which had made a cross-over at the oversold territory and about to enter the bullish zone. – Trading Volume: The reversal candle from two days ago turned out to be the highest volume day since July 18. This could be a bullish sign for a possible green continuation. BTC/USD BitStamp 4-Hour Chart BTC/USD BitStamp 1-Day Chart The post Bitcoin Price Analysis: BTC Shows Strength Following Bakkt’s Launch News, Last Buy-Opportunity Below $10,000? appeared first on CryptoPotato.
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Bakkt Official Launch Date, Ethereum Upgrade, Coinbase Bank & Is Everyone Ready?

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CME Futures CRUSHED Bitcoin... Will Bakkt do the Opposite?

👇🏻Support the channel by using my affiliate links👇🏻 ✘ Exchanges I'm using: ► Coinbase FIAT https://www.coinbase.com/join/59398125002bcc03276297d6 ► Binance FIAT https://www.binance.je/?ref=35002320 ► Binance Altcoins https://www.binance.com/?ref=16553332 ► Bitmex Futures https://www.bitmex.com/register/s0r1z5 ► Bybit Futures https://www.bybit.com/app/register?ref=RPyME ► Deribit Futures & Options https://www.deribit.com/reg-2331.1757 ✘ My Chart Tool: ► TradingView https://tradingview.go2cloud.org/aff_c?offer_id=2&aff_id=12339 ✘ My Hardware Wallets: ► Ledger https://www.ledgerwallet.com/r/f7c4 ► Trezor https://shop.trezor.io/product/trezor-one-white?offer_id=14&aff_id=1164 ✘ Keep your Private Keys safe: ► https://cryptosteel.com/product/cryptosteel/?csr=517 ✘ Support the Channel via BTC Lightning Network: ► https://tippin.me/@sunnydecree ✘ BTC: ► 12vg29zgveAqm31yiUrL9kM2ANmYMFaA93 ✘ Follow me: ► https://twitter.com/sunnydecree ► https://discord.gg/Psrt8Yn ► https://www.youtube.com/sunnydecreede #Bitcoin #BTC #Crypto
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Here’s Why Bakkt Launch Is a Blessing For Bitcoin Holders

Yesterday’s big announcement that regulatory approval has been granted to Bakkt could be the best news bitcoin investors have had this year. It opens the door to the institutional investors and is a huge step forward for crypto industry legitimization in the US. Bakkt To Launch Next Month After months of procrastination, the new cryptocurrency trading platform launched by the Intercontinental Exchange (ICE) has finally been given the green light. The news that the Commodity Futures Trading Commission (CFTC), and the New York State Department of Financial Services, has granted regulatory approval broke late yesterday as reported by Bitcoinist. The concept of physically delivered bitcoin futures will require investors to either produce actual BTC or take delivery in them from their respective exchanges and platforms. Crypto trader at TexasWest Capital, Scott Melker, who also goes by the twitter handle ‘Wolf of All Streets’ stated the news was ‘arguably the most bullish event for institutional investors in the history of bitcoin’. The @Bakkt news is arguably the most bullish event for institutional investors in the history of bitcoin. PHYSICALLY delivered futures (require the holder to either produce actual bitcoin or take delivery from the exchange) backed by the New York Stock Exchange. We are maturing. — The Wolf Of All Streets (@scottmelker) August 16, 2019 Being backed by the New York Stock Exchange has granted bitcoin a level of legitimization never seen before. Investors will get the opportunity to trade in daily and monthly physical bitcoin futures contracts which is likely to lead to greater mainstream adoption. Bakkt is also planning to onboard a number of commercial retailers such as Starbucks which will provide an easier way for people to make purchases using bitcoin and other crypto assets. General Counsel for Compound Finance, Jake Chervinsky, was equally bullish on the Bakkt news stating that: “It offers a way for large, risk-averse institutions to buy and custody bitcoin through an end-to-end regulated system approved by the CFTC and NYDFS, and backed by the sterling reputation of ICE. Compliance lawyers rejoice!” The former litigator also noted that there is still a long way to go since there is still the SEC to contend with. When questioned on the possibility of big investors trying to short bitcoin he added; “Short sellers betting against a commodity probably don’t want to hold the underlying, so shorting via physically-delivered futures is more for entities that are net long (like miners) and want to hedge.” Fintech Business Analyst going by the twitter handle ‘Mr. Gordon’ was equally bullish on Bakkt; “This must be what it feels like to win the lottery!  The confirmation of the launch of #Bakkt changes EVERYTHING… Those of us who have been investing in crytpo for the last couple of years now have some very serious decisions to make…” This must be what it feels like to win the lottery! The confirmation of the launch of #Bakkt changes EVERYTHING.. Those of us who have been investing in crytpo for the last couple of years now have some very serious decisions to make….. Like which colour to get pic.twitter.com/Klo5GwOWY7 — Mr Gordon (@MrGordon_UK) August 16, 2019 Picking a Lambo color is probably a little presumptuous at the moment. Bitcoin price did not even react to the announcement as markets remain choppy this morning. BTC is still consolidating in the mid-$10k range after two dips into four-figure territory late in the week but the long term prospects have just brightened significantly. Will Bakkt send Bitcoin price to a new all-time high later this year? Add your thoughts below. Images via Bitcoinist Image Library, Twitter: @scottmelker, @MrGordon_UK The post Here’s Why Bakkt Launch Is a Blessing For Bitcoin Holders appeared first on Bitcoinist.com.
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Bakkt launch bears good news for Bitcoin’s price and regulation

One of the biggest news last year was the announcement made by the New York Stock Exchange’s parent company, Intercontinental Exchange. In August 2018, The firm announced that it would be venturing into the cryptocurrency space with the launch of a new company – Bakkt. This turned out to be an extremely bullish news in […] The post Bakkt launch bears good news for Bitcoin’s price and regulation appeared first on AMBCrypto.
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