Tag Archives: Ethereum

Ethereum’s Harmony will not support upcoming Istanbul hardfork

Ethereum’s Harmony will not support upcoming Istanbul hardfork

                                 

With the Istanbul hardfork expected to roll out by 4 December,

developers of the Ethereum community have been releasing several upgrades in its ecosystem.The testnets before the execution of the Istanbul hardfork have been activated with Rinkeby testnet being the latest one. While the community is gearing up for the Kovan testnet scheduled for December, the team lead at Ethereum Péter Szilágyi affirmed that Rinkeby was a success.

His tweet read,

“The Rinkeby #Ethereum testnet is officially in Istanbul!!! :-)”

In more recent updates, Ethereum’s Tim Beiko took to Twitter to elaborate on the developments that took place in the Ethereum Core Devs Meeting #75. After the release of several versions of Nethermind, Besu, and Geth, Parity v2.5.10-stable and v.2.6.5-beta was the latest versions to be released. The release would add block numbers for the activation of the Istanbul hardfork on the mainnet along with other updates. Along with the latest versions of Parity, Aleth 1.7.0 was also released which focused on EIPs for the Istanbul hardfork. While the developers urged the community to update their nodes, Beiko revealed that only 16% of nodes were updated. Additionally, Beiko revealed that Harmony wouldn’t be supporting Istanbul.

His tweet read,

“We also have an update from EthereumJ/Harmony to announce that they will stop maintaining their Eth1 client to focus on Eth 2.0. They will not be supporting Istanbul.”

While meeting mainly focused on Istanbul as there were no major updates pertaining to the Berlin hard fork. Furthermore, Beiko revealed the status of Ice Age and

tweeted,

“One final update, on the Ice Age! @JHancock is still looking at predicting exactly when it will hit. He will share the numbers with core developers as soon as he has them!”

Article Produced By
Sahana Kiran

Sahana is a full-time journalist at AMBCrypto covering the US market. A graduate in Political Science and Economics, she writes mainly about regulations and its impact.

https://ambcrypto.com/ethereums-harmony-will-not-support-upcoming-istanbul-hardfork/

Thomas ClaimCo.in

CFTC Chairman Confirms That Just Like Bitcoin Ethereum Is Also a Commodity

CFTC Chairman Confirms That Just Like Bitcoin, Ethereum Is Also a Commodity

                                

The CFTC chairman confirmed that Ethereum qualifies to be a commodity

and all the forked assets like the Ethereum Classic shall be subjected to similar regulatory considerations.According to the latest report from Yahoo Finance, the chairman of the United States Commodities and Futures Trading Commission called Ethereum (ETH) a commodity. Speaking at the Yahoo Finance Summit, CFTC chairperson Heath Tarbet said that the ETH token falls under the regulatory oversight of CFTC. He further added that in the near future, one cannot rule out the possibility of having Ethereum futures in the market.

Tarbet said:

“We’ve been very clear on bitcoin: bitcoin is a commodity. We haven’t said anything about ether—until now. It is my view as chairman of the CFTC that ether is a commodity.”

Besides, the CFTC chairman also expressed his wish of the U.S. taking the leading role in the blockchain and digital assets market.

He said:

“I want to stress the importance of blockchain and digital assets to the United States, and in particular, as CFTC Chairman, I want the U.S. to lead in this technology.”

Besides, he also stated that the CFTC is closely working with the SEC on these two cryptocurrencies. These two regulators commonly agree that Bitcoin and Ethereum are not securities. Speaking on this matter, Compound Finance General Counsel Jake Chervinsky pointed out:

 

Forked Digital Assets to Get the Same Regulatory Status

Chairman Tarbet was also asked whether the same rules are applicable to forked cryptocurrencies. He said that any forked asset, Ethereum Classic, in this case, will get the same regulatory status as Ether.

He added:

“It stands to reason that similar assets should be treated similarly. If the underlying asset, the original digital asset, hasn’t been determined to be a security and is, therefore, a commodity, most likely the forked asset will be the same. Unless the fork itself raises some securities law issues under that classic Howey Test.”

Apart from Ether, Tarbet also answered questions on Facebook‘s Libra project. He said major regulators are looking into it and yet to determine is the Libra stablecoin falls under the security classification. “Is it a security, first and foremost. And if it isn’t a security, it is most likely a commodity,” he said. When it comes to having regulations for digital assets, Tarbet’s views are quite similar to his predecessor Christopher Giancarlo. The ex-CFTC chairman is known popularly as ‘Crypto Dad’ for his pro-crypto stand.

Article Produced By
Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

https://www.coinspeaker.com/author/bhushan_akolkar/

 

Thomas ClaimCo.in

Ethereum ETH’s Next Big Move Is Just Around The Corner

Ethereum (ETH)’s Next Big Move Is Just Around The Corner

                              

Ethereum (ETH) is finally close to its next big move that we have been waiting to come to fruition for weeks.

The symmetrical triangle on the 4H chart will now either see a sharp breakout to the upside or to the downside. Considering that the cryptocurrency market is still due for another downtrend and the condition of the Stochastic RSI and RSI for ETH/USD on the 4H chart, I’m inclined to believe that we are very likely to break to the downside. The price remains below the 38.2% fib retracement level despite numerous attempts to break out. As long as that is the case, I have no reason to be bullish on Ethereum (ETH) or any other cryptocurrencies. 

Many traders are waiting for a trend reversal at this point but I think it might turn out of be very risky as we do not know where the floor is. If the price starts to decline from here, I would not be surprised to see it crash below even $155 during the next downtrend. I am open to the possibility of the price breaking the symmetrical triangle to the upside but I would consider that to be a fake out and an opportunity to add to short positions. In any case, I would be very surprised to see the price closing above the 61.8% fib retracement level on the daily time frame. In my opinion, we are close to seeing the current move coming to fruition with the price completing a big move to the downside. This next move is what is very likely to turn the sentiment bearish once again and I think that would be a point to expect a short term trend reversal.

The daily chart for Ethereum dominance (ETH.D) is an even better indicator of what is likely to follow in the near future. If the rising wedge breaks to the downside as I expect it to, then we have a very high probability of the altcoin market experiencing some serious pain. RSI on the daily chart for Ethereum dominance points to a similar outcome. We are now very close to seeing a breakout in ETH/USD but if we link this chart with the ETH/USD chart, we get the complete picture and that is the strong probability of the beginning of a new downtrend from here. 

Ethereum (ETH) and other cryptocurrencies are long way from breaking out of the current bear market just yet. In my opinion, we are in the second half of the ongoing bear market and there is no reason to be bullish on Ethereum (ETH) or other altcoins as long as the market has not made the inevitable moves to the downside. Everyone is looking to buy the dip but most of you who have been around since 2014 or before would know that this is now what it feels like when the market bottoms. No one wants to buy the dip thinking it is the end and that is when the next cycle actually begins.

Article Produced By
Jefe Caan

I work as the key Trading Analyst for Crypto Daily and provide the team with regular analyses and updates regarding the technical performance of all cryptocurrencies on the market. I am responsible for the production of articles and posts for Crypto Daily’s own technical analysis section and spend my time monitoring and commenting on the varied moves the markets make on a daily basis.

https://cryptodaily.co.uk/2019/10/ethereum-next-big-move-is-just-around-the-corner

Thomas ClaimCo.in

Hacker Who Grabbed Top-Level Ethereum Domains Voluntarily Returns Them

Hacker Who Grabbed Top-Level Ethereum Domains Voluntarily Returns Them

                                

The hacker who managed to exploit an auction by the Ethereum Naming Service (ENS)

to grab top-level domains has voluntarily returned the domains he took. Since September 1 digital collectibles marketplace OpenSea has been having an Ethereum domain auction, where “.eth” domains are being auctioned to the highest bidder. These domains, unlike those working on the standard DNS domain, can’t be forcibly retrieved once allocated, as they’re on the Ethereum blockchain. Using an exploit in the auction software distributing the ENS domains to participants, the hacker managed to get a hold of top-level domains like “apple.eth”, “defi.eth,” and “wallet.eth” without being the highest bidder. Overall, the user took 17 domains.

OpenSea wrote in a blog post:

One user discovered an input validation vulnerability that allowed them to place bids on a name that actually issued a different name.

The auction suffered from other issues, as domains like “bitmex.eth” and “hodls.eth” had bids incorrectly processed. These weren’t, however, affected by the exploit. The affected domains were initially blacklisted by OpenSea, although the marketplace asked the hacker to return the domains so they can be re-auctioned. In return, it offered the hacker a reward of 25% of the final auction price, as well as the original bid. The offer seems to have worked as on Twitter, OpenSea revealed the domains were voluntarily returned.

Article Produced By
Francisco Memoria

Francisco is a cryptocurrency writer who's in love with technology and focuses on helping people see the value digital currencies have. His work has been published in numerous reputable industry publications. Francisco holds various cryptocurrencies

https://www.cryptoglobe.com/latest/2019/10/hacker-who-grabbed-top-level-ethereum-domains-voluntarily-returns-them/

Thomas ClaimCo.in

World’s Largest Furniture Retailer Uses Programmable Cash on Ethereum to Settle Invoice

World’s Largest Furniture Retailer Uses Programmable Cash on Ethereum to Settle Invoice

                                

Retail giant IKEA has settled an invoice with a local retailer using an Ethereum-based token.

Supply chain payments platform Tradeshift transferred a digital version of the Icelandic króna that was created on Ethereum by fintech company Monerium. Ethereum, an open source, public blockchain, allows developers to create a number of financial tools to power the digital economy while stripping away middlemen. Through the use of smart contracts, which are executed once agreed upon terms are met on both sides of a deal, trust is established without the need for third-party intermediaries. Smart contracts effectively reduce burdensome paperwork and eliminate redundant verification procedures.

Stefán Árnason, chief financial officer of IKEA Iceland, says the platform, which connects the money and payments flow to the invoicing to the actual inventory, squashing “double dip financing fraud”, will alter business relationships. “A programmable financial supply chain, where trading partners can connect information flows to money flows through smart contracts, will transform how suppliers and customers interact.”

Gert Sylvest, co-founder of Tradeshift, says “smart invoices” allow merchants to represent future cash flow down to each dollar on the invoice. Payments can be programmed to settle on the actual due date, raising the bar on other services such as short-term credit to small and large companies that can be delivered automatically.

The Ethereum-based e-money differs from cryptocurrencies in that it represents fiat currency.

Says Sveinn Valfells, co-founder and CEO of Monerium, “Unlike cryptocurrency which is volatile, e-money is a proven digital alternative to cash, regulated and redeemable on demand. Using programmable e-money in smart contracts heralds a new category of payments.” The e-money movement is in line with IKEA’s efforts to streamline and conserve. The retail giant, founded in 1943, is responding to a changing world and the impact of e-commerce giant Amazon by taking a number of steps to modernize its business practices, reduce emissions and simplify manual procedures.

Article Produced By
The Daily Hodl Staff

https://dailyhodl.com/2019/10/03/worlds-largest-furniture-retailer-uses-programmable-cash-on-ethereum-to-settle-invoice/

 

 

 

Thomas ClaimCo.in

Ethereum 9: Ethereum amp Mimblewimble Meld Arises to Conceal Token Spends

Ethereum 9¾: Ethereum & Mimblewimble Meld Arises to Conceal Token Spends

If you consider technical innovations to be magical, then there is plenty of magic happening around Ethereum right now.

One of the newest of those innovations? Ethereum 9¾, a proof of concept system that uses powerful privacy techniques to conceal Ethereum token transactions. Named after the magical train platform from the Harry Potter series, Ethereum 9¾ specifically relies on Mimblewimble, zk-SNARKs tech, and more to build out its privacy protections.

Popularized by cryptocurrency projects like Grin and Beam, Mimblewimble itself is a an extremely efficient and private protocol that only lets transaction participants see transaction details. It is also titled from the Harry Potter canon, wherein a spell bearing the same name is used to block the speech of those who are affected by it. Introduced by software engineer Wanseob Lim over the weekend in the Ethereum Research forum, Ethereum 9¾ aims to make it so that ERC20 tokens don’t have to “speak” either and can thus be used anonymously. The system appears to be the first time or among the very first times the technology of Mimblewimble has been used in direct tandem with Ethereum. “Using both concepts of ZCash’s commitment-nullifier scheme and Mimblewimble protocol together on Ethereum, it hides the transaction details and the token flow while guaranteeing no money is printed out of thin air,” Lim said.

Takeaways? More DAOs and More Affordability Coming

Privacy developments around the Ethereum ecosystem have been picking up steam in 2019, and Ethereum 9¾ is among the latest threads to watch in that arena. So what might we expect from the system or other systems inspired by it going forward? In his announcement of the new construction, Lim concluded the tech could lead to new types of DAOs (decentralized autonomous organizations) and DeFi projects, as it allows token transactions to be aggregated and for the associated relayers to collect fees.

Lim explained:

“As a result, because the relayers can aggregate transactions and gather some fee, it is expected to see appearance of new DAO systems. For example, we can build a system where everyone can participate as relayers and decide their transaction fee or delegate stakes for the optimistic roll-up to receive a share of the fee revenue. De-Fi products can also use this model for their investment sources.”

Moreover, Lim added that even though an Ethereum 9¾ transaction costs more in gas than a transaction that does not require Mimblewimble, these costs should soon be cheaper. And the engineer pointed to more work being done in the future to

bring these costs lower yet:

“Accordingly, the next step should be finding a way of reducing call data size and constraints as possible as we can. However, Ethereum 9¾ is still promising, and the upcoming Istanbul [upgrade to Ethereum] is going to make it more affordable than a bare ERC20 transaction, even it is a private transaction. Therefore, the hope is to see a new daily-use ERC20 wallet that supports private transactions using Ethereum 9¾.”

The Privacy Possibilities Are Widening

Lots of new privacy solutions for Ethereum have materialized this year. One of the firsts back in February was Zether. Months later the banking powerhouse J. P. Morgan and “Big Four” accounting firm EY launched their own Ethereum privacy tools, Anonymous Zether and Nightfall respectively. On the mixers front, solutions like Heiswap and Tornado have been introduced. Somewhat relatedly, some of the decentralized oracle specialists with the Chainlink project as well as other experts published a paper on Mixicles, a tool that uses oracles and smart contracts to make financial instrument transactions private but auditable. So Ethereum 9¾ is just the latest oncomer to arrive, but it likely won’t be the latest for long as more similarly-inspired solutions hit the scene.

Article Produced By
William M. Peaster

William M. Peaster is an expert writer and editor who specializes in the Bitcoin, Ethereum, and Dai beats in the cryptoeconomy. Has appeared in Blockonomi, Binance Academy, Bitsonline, Bitcoinist, and more. Enjoys tracking smart contracts, DAOs, dApps, and the Lightning Network. Learning Solidity.

https://blockonomi.com/ethereum-mimblewimble-conceal-token-spends/

Thomas ClaimCo.in

Ethereum Istanbul Hardfork Delayed to Early October

Ethereum Istanbul Hardfork Delayed to Early October

The community manager of Ethereum Foundation,

Hudson Jameson said that the testnet implementation of Istanbul Hardfork is delayed to early October. According to a post by Coindesk, Jameson said on a developer’s call that the launch of Istanbul Hardfork is scheduled to early October.

He further added:

“For anyone listening in who doesn’t know how this works, we pick a block number that we estimate to be around the 2nd of October. […] However, that might be one or two days behind or forward from that date based on how fast blocks are produced between now and then.”

Another delay in Istanbul Hardfork

Bitcoinik reported on 28 August that Parity an blockchain infrastructure company that runs core nodes of Ethereum network has delayed the Istanbul Hardfork until 6 September. Wei Tang the lead developer at Parity explains that they need atleast two more weeks to fix some minor issues before devs could select a block number for Hardfork implementation.

Tang said:

“We need time till 6th September to finish the implementation. Not only because we accepted EIPs late but right now we just happened to be a large code base refactoring and we probably want to merge them first before merging Istanbul EIP.”

Vitalik Said Ethereum Chain is Almost Full

The co-founder of Ethereum, Vitalik Buterin said that the Ethereum chain is almost full and that will lead to fight for transaction fee and space on the network. Ethere network will be migrated to proof-of-stake (PoS) from proof-of-work (PoW).

Vitalik further added:

“Scalability is a big bottleneck because the Ethereum blockchain is almost full. If you’re a bigger organization, the calculus is that if we join, it will not only be more full but we will be competing with everyone for transaction space. It’s already expensive and it will be even five times more expensive because of us. There is pressure to keeping people from joining.”

Article Produced By
Bitcoinik

https://bitcoinik.com/ethereum-istanbul-hardfork-delayed-to-early-october/

Thomas ClaimCo.in

Globex Announces Its New Open Order Book System

Globex Announces Its New Open Order Book System

Blockchain software solutions company Globex US Holdings Corp.

is launching its new Open Order Book digital securities exchange software. Users can now bid on order-driven, digital asset-supported marketplaces through the Ethereum blockchain.

 Globex Is Coming Full Circle

Using their smartphones or mobile devices, customers of Globex can purchase, sell or trade any tokens (ERC-20) developed or included on the Ethereum network. Open Order Book comes equipped with a dashboard similar with that of a traditional stock exchange. It also comes with built-in transparency and smart contracts designed to halt market manipulation and protect investors from fraudulent activity and malicious actors. Fake trades are never promoted through volume discounts, and “prop trading” is strictly forbidden. All transactions occur on-chain to ensure that there is some form of auditable record for the future. In addition, the platform offers several trading pairs that are settled within minutes, not hours or days. Currencies are tied to fiat, so investors are not subjected to the same volatile properties that affect most forms of digital currency, and each customer is given their own private key to prevent cyberattacks and theft.

Globex CEO Brian Collins explains:

 The digital asset community deserves a compliant secondary trading solution that upholds the core values of a public blockchain. We believe Open Order Book has the ability to usher in a new wave of quality issuers while leveling the playing field for investors to benefit from the liquidity that a global network of transparent, accessible, regulated trading venues will offer.

Dr. Andrew Le Gear, the company’s chief technology officer, explained the motivation behind the platform’s unique look and style. He claims:

 When developing Open Order Book, we were in a position to observe and solve the challenges that both traditional and crypto exchanges face. We believe Open Order Book showcases the best of both worlds for digital securities participants to transparently and securely trade on the blockchain.

 Working with Government Authorities

Recently, Globex signed what’s called a “Memorandum of Understanding” with the government body of Antigua, a small island nation in the Caribbean. The memorandum has paved the way for Globex to provide the country with its own digital stock exchange that will also be powered by Open Order Book’s transparency and smart contracts capabilities. The company is also releasing a new trading app known as “Game of Trades” in the coming months. Among the company’s primary goals is complete government compliance with present laws surrounding digital currencies. Globex is very concerned about the lack of regulation in the digital asset market, believing it has paved the way for criminal activity, theft and cyber-related problems. The idea is to utilize the power of both “Wall Street and the Silicon Valley” to bring a whole new system of safe and secure apps for cryptocurrency enthusiasts to use.

Article Produced By
Nick Marinoff

https://www.livebitcoinnews.com/globex-announces-its-new-open-order-book-system/

 

Thomas ClaimCo.in

Ethereum Foundation Unveils 2M Worth Funding for Development of Serenity ETH20

Ethereum Foundation Unveils $2M Worth Funding for Development of Serenity (ETH2.0)

As reported, the very first stage of the transition from Ethereum network’s to Ethereum 2.0

is expected to take place on January 3, 2020. As we near the launch of Ethereum’s Beacon Chain, the open-source blockchain developer unveiled grants of over $2M. The grants are to be allocated to development teams worldwide aiming at furthering the Serenity (Eth2.0) project. According to a blog post from the company, it has partnered with Protocol Labs and ConsenSys for the allocation of the grants. The announcement says that significant awards will be granted to the leading client development teams, who, at the moment, have been currently tasked with creating long-standing multi-client Test Networks (Testnets) as the launch of Phase 0 draws near.

The said funds are going to be distributed among nine companies and researchers. Companies that have received funding for client development include Harmony ($189K for Harmony beacon chain development), Prysmatic Labs ($725K for Prysm client development), Status ($500K for Nimbus client development), Sigma Prime ($485K for Lighthouse client development), Chainsafe ($217.5K for Lodestar light-client and javascript development), Whiteblock ($184K for ETH2.0 testing), Status ($500K for Nimbus client development). Status has also received $150K for nim-libp2p development. The team is creating a native nim-language implementation of libp2p for use in Nimbus and other projects.

The Ether Foundation, alongside these awards, has also declared allocation of 5 ETH bounties (or 1,000 units of DAI, USD-pegged decentralized stablecoin) for any technical recommendations that will enhance the functionalities of ETH 2.0 before the chain is launched. A series of bounties have also been offered for the Legendre pseudo-random function, which is expected to be a part of the forthcoming proof of custody scheme in Phase 1 of ETH 2.0. The winners of the StarkWare hash (SFH) challenge will also be rewarded. The challenge aims at evaluating the security of currently proposed SFH functions. It is proposed at four security levels: low-security, medium-security, target-security, and high-security in multiple scenarios.

Cryptocurrency analyst Dmitry Khovratovich was awarded $10K to present a report regarding the security of some aspects of the first version of ETH 2.0. Also, Chainsafe received $217.5K for developing its Lodestar light client and javascript. A lot of other initiatives have also been undertaken by Ethereum Foundation towards the development of decentralized protocols and tools that empower developers to produce avant-garde decentralized applications (dapps) that would result in an internet that’s more globally accessible, freer and more trustworthy.

Article Produced By
Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

https://www.cryptonewsz.com/ethereum-foundation-unveils-2m-worth-funding-for-development-of-serenity-eth2-0/39188/

Thomas ClaimCo.in

Ethereum Price Prediction and Analysis ETH Continues Correcting Growth

Ethereum Price Prediction and Analysis – ETH Continues Correcting Growth

                             

Bitcoin keeps growing robustly, its dominance reaching 68.4%,

which is a two-year maximum. At the same time, the Ethereum is attempting a bullish trend. The general growth of digital assets in case the leading cryptocurrency manages to renew local maximums looks highly probable. The British financial regulator Financial Conduct Authority has declared that it is not going to regulate the BTC and ETH, as well as other cryptocurrencies. In the document signed the cryptocurrencies are regarded as exchange instruments. Such coins are decentralized and in most cases used exactly as exchange means. The FCA has specified that such digital assets are out of their jurisdiction. 

However, earlier the British regulator planned to ban selling such contracts as futures for the BTC to retail investor, which could put serious pressure on the cryptocurrency market in general. Some time earlier, a computer game developer Blockade Games, which is trying to realize the Bitcoin Lightning Network as the interface for the Ethereum contracts, declared that the future of digital money belongs to the BTC. The second cryptocurrency ETH is going t be used for less functional projects, such as games on the basis of blockchain.

The company representatives also noted that a lot of users of different games prefer keeping their money in the Bitcoin. Anyway, such situations when the developers use to networks for project creation will give mid-term support to the Ethereum as well. On H4, the Ethereum keeps forming an ascending channel, moderate but stable. This trend is the correction of the previous decline. The quotations are currently aiming at 38.2% ($239.45), upon reaching which the market may rise to 50.0% ($254.30) Fibo. As the main support, the current minimum of $190.41 should be regarded. A breakaway of this level may signal a continuation of the mid-term descending trend.

On H1, the previously stable ascending channel has been broken through at the resistance line. This signifies the growth of volatility at the moment, which promises an upcoming correction and growth in a longer perspective. Speaking about the correcting decline, the first goal may be at the support level of the previous channel around $224.50. Upon completion of the correction a new impulse of growth may be aimed not just at 38.2% ($239.45) Fibo, but even as high as $245.00.

Article Produced By
Guest

https://cryptomode.com/ethereum-price-prediction-and-analysis-eth-continues-correcting-growth/

Thomas ClaimCo.in