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.
“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.”
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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.
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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 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.
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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.
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