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Are initial coin offerings the only thing the Ethereum network has to offer?

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Ethereum has over time become the platform of choice when it comes to initial coin offerings (ICOs)

Ethereum has over time become the platform of choice when it comes to initial coin offerings (ICOs). Ethereum was the very first digital currency to make a mark of itself and be of some industrial importance right after Bitcoin. Before Ethereum, Bitcoin was the only player in the market thus dominating it heavily. But with the entry and flourishing growth of Ethereum, people are impressed by what the Ethereum network has to offer. Now, it stands as one of the most valuable virtual currency in the fintech world. It has high reliability and brand value.

It majorly allows its users and clients to build decentralized apps or dApps as they are popularly called. The decentralized open source nature of this developing platform is highly useful and has much much more to offer than just initial coin offerings.

The initial development of Ethereum was itself mostly funded using the initial coin offerings. In using an initial coin offering as a fundraising tool, a massive Ether sale was held and this emerging digital currency was traded with a digital currency of immediate liquid value. Take note here that, the Ethereum as a platform itself charges fees for transactions but moreover, any computational changes taking place on this platform initiated by any developer requires a certain payment too, and all these charges are paid in the form of Ether. Thus Ether basically is not just a currency for this platform but also its fuel using which computational work takes place.

 

Unlimited applications and offerings

The world would come to an abrupt shutdown if no transaction or even a few transactions did not pull through. Basically, it is these transactions in almost every sector that makes the world what it is now without which everything would come to a standstill. Ethereum offers to revamp this space of transactions by offering something known as smart contracts. Any information or valued asset can be shared without worrying about any risks. The shared ledger feature of these smart contracts make it capable of being updated in real time and the same updated version is available to everyone on the network thus eliminating any delays or mistakes due to human restraints. The IFTTT or the If this then that logic which holds the Ethereum network up is what makes it possible to hold up such peer to peer smart contracts.

 

Revamped healthcare databases

The health sector industry has been looking for a sort of application for years that would help them share their patient’s records amongst each other. The sharing and access of these databases is extremely important for research purposes so as to help work and target a larger set of the population to develop new vaccines, or spreading awareness about them and much more. They would no longer require a biomedical search engine to look up for their patient’s records. They could simply make use of the shared ledger system of Ethereum. The dApps could be incorporated into small wearable devices which would record, share and constantly update your health vitals across all hospitals all over the world. All this incorporation of Ethereum could help detect and patterns in someone’s health conditions too.

 

Transparent Democracy

How often have there been instances in history when people have been elected to posts in the government no one voted for? The electoral commission is run down by corrupt and malpractices and polling data is more easier to manipulate than anyone could imagine. But with dApps and the shared ledger decentralized platform that Ethereum has to offer, people would not be fooled anymore. They would see exactly where the vote of every person go resulting in a fair and open transparent election of politicians. Could it get any better than that?

 

Decentralised storage facility

Space has always been an issue for humans. Even when they have so much they want more. And when it comes to huge companies looking at alternatives to store data, they have to do it in all one place that too in huge buildings knowns as server farms which harbour several servers that store data on them all in one place. But since we know that sharing is caring, if this data could be shared on hundred of platforms in many different places, things would get easier and much more smooth running. The Ethereum dApps offer just this service and provides for a decentralized storage facility to help share the burden. Data could be stored anywhere but it could be accessed all in one place by quick encryption and transfer of the data.

 

Unimagined possibilities

People believe that the Internet has changed their lives completely and it could not get any better. But there is always a scope for improvement and one must always strive to reach perfection. Ethereum offers to make the world economy decentralized and if incorporated heavily, it will revolutionize the entire existence of mankind.

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Ethereum 2.0 Serenity: All you need to know

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According to Ethereum Founder Vitalik Buterin, the Ethereum 2.0 Senerity is a realization of the research that ethereum is spending time on from 4 years.

Main Features of Ethereum 2.0

– Proof of Stake (Casper)
– Scalability (Sharding)
– VM Improvements (EWASM)
– Improvements to cross-contract logic
– Improvements to protocol economics

 

Serenity Begins

What is Serenity?

According to Ethereum Founder Vitalik Buterin, the Senerity is a realization of the research that ethereum is spending time on, over the last 4 years. Serenity is a new blockchain in the sense of being a data structure which will have to link to the existing proof of work chain. So the proof of stake chain will be aware of the block hashes over the proof to work chain and the users will be able to move ETH from the proof of work chain into the proof of stake chain.

 

Expected Phases of Ethereum 2.0

Phase 0: Beacon Chain Proof of Stake
Phase 1: Shards as data chains
Phase 2: Enabling state transitions
Phase 3: iterate, improve and adding technology

 

Expected Feature of Ethereum 2.0

– Pure proof of stake consensus
– Faster time to synchronous confirmation )only 8-16 seconds)
– Economic finality
– Fast Virtual Machine execution via EWASM
– 1000X higher scalability

 

Ethereum 2.0 Post Serenity Innovation

– Layer 2 execution engines
– Privacy
– Cross-shard transactions
– Semi-private chains
– Proof of stake improvements

 

However, Vitalik Buterin did not define the timeline as to when the Ethereum 2.0 will be released and the users will be able to see all these improvements.

One of the lead developers and researchers with the ethereum foundation Justin Drake said in an interview with CNBC that there have been mistakes by the ethereum community for overpromising which is mostly because of miscommunication and underestimating the complexity of things. In reality, the research on moving ethereum to a proof of stake consensus has been moving really fast in accordance to the blockchain space. He also told that the Ethereum 2.0 Phase 0 that is between the mainnet and the testnet will be released in 2019, the Phase 1 that is Sharding will be seen in 2020, the Phase 2 will be live in 2021.

Erik Voorhees, the CEO of Shapeshift wallet and exchange said in the Ethereum Devcon that he believes that Ethereum will be one of the main chains as it has the network effect and more developers than any other blockchain in the world. He also said that Vitalik does not personally control Ethereum and if Vitalik disappeared someday, the ethereum blockchain will still prevail forever despite that fact that the ETH market might crash for a month or so.

 

What is your take on Ethereum 2.0? Will it boost the price of ETH back to four figures? Tell us in the comments section below.

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Ethereum Updates: Proof of Stake, Zero Proof Prototype, JP Morgan and more

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The Ethereum Dev Con in Prague has just wrapped up in a flurry of news and announcements. Vitalik has made some tantalizing announcements about ethereum.

The Ethereum Devcon in Prague has just wrapped up in a flurry of news and announcements. Vitalik Buterin has made some tantalizing announcements about ethereum stating that Proof of Stake is not far away. The serenity updates will see Ethereum moving from a Proof of Work to a Proof of Stake system which will be exciting.

Estimates predict a possible 1000X increase in ethereum speed brings it up to 15000 transactions per second. The updates will also include improvements to the ethereum virtual machine, cross chain contract logic and much more.

 

Ernst & Young ETH Zero-Proof Prototype

Ernst & Young made an announcement on 30th October about the launch of EY Ops Chain Public Edition Prototype which is the first ZERO Knowledge Proof Technology on Ethereum Blockchain. According to sources, the prototype aims to improve the current barriers that prevail in the transactions.

– Company’s ability to conduct transactions on the Public Blockchain securely.
– Improving Blockchain Adoption
– Enabling a traceability trail of the private transactions.

The prototype is set to launch in 2019 and could prove to be highly significant for the upcoming security token industry.

 

JP Morgan ‘big believers’ in Ethereum

Jamie Dimon, the CEO and Chairman of JP Morgan who had earlier said that he did not give a s**t about Bitcoin has recently endorsed Ethereum of having the abilities to provide practical applications to the financial world.
The JP Morgan team is developing a product named as ‘Quorum’ which is defined as an enterprise-focused version of Ethereum. A significant use of the product will be the tokenization of gold bars.

 

Bancor: Ethereum and EOS Cross-Chain DEX

BancorX, a new platform by the Bancor decentralized exchange is now live and enables the conversion between ethereum and EOS based tokens on the blockchain. Currently, it allows the conversion of more than 110 tokens on both Ethereum and EOS blockchain. The BancorX project was established in collaboration with LiquidEOS, an EOS block producer. The project uses BNT tokens (Bancor Tokens) for the transactions. The BNT Token works on both EOS and Ethereum blockchain.

The working: When you convert an Ethereum token into an EOS token, it is first converted into BNT Token. After this, the BNT Token is transfered to the EOS blockchain and gets converted into an EOS Token.

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#Ethereum Price Analysis

Ethereum Price Analysis: Can ETH recover back?

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Ethereum Price Key Features

  • Ethereum price rectified lower strongly in the wake of exchanging over the $222 level against the US Dollar.
  • There is a key bullish pattern line set up with support at $208 on the 4-hours outline of ETH/USD.
  • The pair is probably going to move higher as long for what it’s worth over the $208 and $206 support levels.

Ethereum price is merging late misfortunes versus the US Dollar and Bitcoin. ETH/USD may maybe move higher above $220 on the off chance that it remains over the $206 support.

 

Ethereum Price Analysis

This previous week, we saw a strong bullish wave over the $202 and $210 resistances in ETH price against the US Dollar. The ETH/USD pair picked up pace over the $220 level and settled over the 100 straightforward moving normal (4-hours). The pair exchanged as high as $223 and later began a drawback remedy. It declined underneath the $220 and $210 support levels, however, purchasers showed up close to the $206 support.

All the more essential, there is a key bullish pattern line set up with support at $208 on the 4-hours diagram of ETH/USD. The pattern line support, $206, and the 100 straightforward moving normal (4-hours) are imperative. The price is as of now merging above $206 and it as of late moved over the $210 resistance. There was a break over the 23.6% Lie retracement level of the ongoing drop from the $223 high to $206 low. Also, there was a push over the 23.6% Lie retracement level of the ongoing decay from the $223 high to $206 low. Be that as it may, purchasers attempted to pick up force over the $212-214 resistance.

 

ETHUSD 5 day chart 11 November

ETH/USD 5 day chart

 

The above outline demonstrates that Ethereum price is as of now exchanging pleasantly over the $206 support and the 100 SMA. For whatever length of time that there is no nearby underneath $206, the price could skip back above $215 and $220.

4-hours MACD – The MACD is going to move into the bullish zone.

4-hours RSI – The RSI is right now level close to the 50 level.

Real Support Level – $206

Real Resistance Level – $220

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