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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.

#Polkadot

Alert: Polkadot Blockchain: A threat to Ethereum?

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Polkadot blockchain is the interpolation of networks that connect the multiple blockchains. It’s a bridge between the collections of blockchains.

Polkadot blockchain is an impending multiple chain structured platform which is technologically designed with the financial aspects to facilitate interoperability and scalability of blockchains which can be stopple into the ‘Relay chain’. Polkadot blockchain is the interpolation of networks that connect the multiple blockchains. It’s a bridge between the collections of blockchains. In technical jargon, it is the parachain. The operation of the parachain is through the minimized trust federation structure.

 

Characteristics of Polkadot Blockchain

Polkadot primarily provides interoperability, security assistance, and scalability. Polkadot creates the relay chain which acts as the nucleus of all the parachains. It connects the all other parachains and operates in coordination along with the transmission of data takes place. This leverage of the interconnections of blockchains is granted to both public and permission blockchains. For the blockchains to be allowed for parachain network must fulfill the following criteria for compatibility.

  1. It should be able to form compact and high-end client evidence.
  2. The authority must be distributed amongst a large number of authorities to standardize any transaction.

Polkadot which has its own consensus has the ability to form bridges with different chains such as Etherum. Polkadot is divided into layers and the lowermost layer of the Polkadot protocol are called Polkadot Runtime environment and stays uniform throughout the complete parachain network. Polkadot is simple language is the consortium of chains which allows numerous blockchains to share secured transactions via the Relay chain. Relay chain is the source of transmission of data. Polkadot connects the public and private blockchains. Polkadot is one of the biggest projects for the future for the accomplishment of the agenda of web decentralization. The transmission of information and data to all the blockchains and the necessary information and operations of the blockchain bifurcated to all the levels. This idea of blockchain data transmission – Polkadot was initially presented by Gavin Wood who is the co-founder of Ethereum and the founder of Parity Technologies. The data to a certain extent is classified. The focused agenda of this multi sharing blockchain technology Polkadot is to make sure that information transmitted stays secure and the transactions initiated must fulfill.

 

Polkadot Coin: DOT

DOT is the token or coin in the Polkadot ecosystem. The bizarre yet most important aspect of DOT is that there is a complete absence of information of limits. Polkadot is the sub technology of blockchain which can take the application of blockchain all together to the new level. It is one of the most ambivalent topics as there is so much of ambiguity in its every aspect.

 

What is Ethereum?

Ethereum is also a digital ledger like bitcoin but it is slightly different as it has a different approach and acts as a platform through which tokens can be created and creation of smart contracts and then directly uploaded onto the blockchain. Smart contracts is the digital code once the delivery of an agreed amount of currency takes place the system automatically transmits the key to unlock. These days our information is not at all 100% concealed. Most of our data is saved on the online accounts even after adding multiple passwords and locks. Still, there are blind spots where someone has the access to your information. The aim of Bitcoin technology is to replace the actual money and money transfer websites like online banking, Paytm and Paypal ethereum seeks to replace all the other third parties of the internet through blockchain. Ether is a form of cryptocurrency whose blockchain is formed by the ethereum platform. Ethereum is the kind of Decentralizing computing machine. Ethereum is divided into divided into two separate blockchains.  Ethereum with the theft reversed (ETH), and the original one being Ethereum classic (ETC). Ethereum prevents the third party from accessing or altering the data in any manner. It provides security to the information. Ethereum also makes the censorship virtually possible. In layman’s language, Ethereum is the best alternative provided for the strict digital base.

 

Is Polkadot a threat to ethereum?

Parity is one of the main clients of Ethereum. Polkadot is somewhat the direct competitor of Ethereumm. Ethereum itself has a potential of being the parachain but it would need a connection through the bridge but the working of a bridge is not clear yet. As ethereum  is an open source system that features smart contract functionality, the Polkadot has come up with the one of its advanced kinds. Even though Etherum is a potential parachain but polkatot is the connection of multiple parachains. As all the parachains cannot be connected to the scope of ethereum in the longer run stays limited. Ethereum is also founded by the Gavin Wood but he left it and founded Polkadot blockchain. Polkadot blockchain is more advanced technology as it is focusing on the transfer of data.

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#Ethereum Price Analysis

Ethereum Price Analysis: ETH going to correct downwards?

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Ethereum price showed strong increases. ETH tested the $150 resistance level which was quite strong so the price may correct downwards.

Technical Indicators

Support Level – $140

Resistance Level – $150

  • Ethereum price broadened the ongoing rally and moved over the $144 and $148 resistances against the US Dollar.
  • There is a bullish pattern line formed with support at $142 on the hourly chart of ETH/USD.
  • There could be a downward correction for the short term. However, a lot of buyers are placed around $140 to push the price upwards again.

Ethereum price showed strong increases against the US Dollar as well as bitcoin. ETH tested the $150 resistance level which was quite strong so the price may correct downwards for a short term before starting a bull run again.

 

Ethereum Price Analysis

Recently, we saw an awful upward move from the $125 swing low in ETH price against the US Dollar. The ETH/USD pair revitalized over the $130 and $136 resistance levels to move into a bullish zone. Afterward, buyers drove the price over the $140 and $142 resistance levels. There was a bearish response noted close to the $148 level and the price plunged towards the $140 support. Sellers could not push the price downwards resulting in a new upward move over the $145 and $148 resistance levels. Ethereum price moved near the $150 resistance and settled well over the 100 hourly SMA.

At present, the price is uniting increases above $145, with a couple of bearish moves. There are numerous supports on the drawback close to the $145, $142 and $140 levels. All the more vitally, there is a bullish pattern line formed with support at $142 on the hourly chart of ETH/USD.

In the event that there is a break underneath the pattern line, the price could test the $140 support territory. Any further misfortunes could start an all-inclusive drawback amendment beneath $138 and $136. To the topside, the $148 and $150 levels are solid obstructions for buyers in the short term.

ETHUSD Price Chart

ETHUSD Price Chart

Taking a look at the chart, Ethereum price is by all accounts confronting a large number of sellers around $150. In this way, there could be several swing moves above $140 before a crisp upward move. Above $150, the next resistance is around $155.

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#Ethereum Price Analysis

Ethereum Price Analysis: ETH strong enough for $200?

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Ethereum price is picking up strength after breaking the major resistance. ETH could soon move towards $145 in the short term.

Technical Indicators

Support Level – $130

Resistance Level – $140

  • Ethereum price picked up strength over the $125 and $130 resistance levels against the US Dollar.
  • There was an appropriate close over the $130 resistance level and the 100 hourly SMA.
  • There is a bullish pattern line formed with support around $129 on the hourly chart of ETH/USD.
  • Ethereum price is probably going to proceed higher towards $140 and $145.

Ethereum price is picking up strength after breaking the major resistance against the US Dollar and bitcoin. ETH is trading above $130 support level and it could soon move towards $145 in the short term.

 

Ethereum Price Analysis

Ethereum price picked up strength and broke numerous resistances between $125 and $130. There was a legitimate close over the $130 resistance level and the 100 hourly SMA. There was a little bearish response from the $130 resistance, yet the $124 level went about as strong support. The price revived and broke the $130 and $132 resistances.

Ethereum price tested the $135 resistance, and later there was a minor drawback adjustment. ETH plunged underneath the $133 level, yet the $132 level went about as good support. There appears to be a lot of supports shaping around $130. There is a key bullish pattern line formed with support at $129 on the hourly chart of ETH/USD.

ETHUSD Price Chart

ETHUSD Price Chart

Taking a look at the chart, Ethereum price is picking up strength over the $132 resistance levels. It will in all probability break the $135 level and expand gains in the coming sessions towards $140 and $145 levels. The major support is around $130, beneath which the price may test the $125 support zone.

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