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#Ethereum

Is Ethereum Dead? Will it reach $0?

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According to many of the cryptocurrency experts, it is estimated that the native asset value of ETH might reach 0. Ethereum dead now.

Understanding the requirement of Ether, which actually isn’t needed

 

Introduction

According to many of the cryptocurrency experts, it is estimated that the native asset value of ETH might reach 0. One must keep in mind, that these do does not refer to the Ethereum network itself.

The people in the cryptocurrency space who assume that the prices of Ethereum would not fall are in a wrong notion as for the amount of competition as well as the scalability that the network faces, it has made the value to fall down inevitably.

According to the experts, if Ethereum has to undergo a widespread adoption and dominate the overall cryptocurrency market then the prices of ethereum must fall. The article explains the various value propositions put forth by the official Ethereum organization.

 

Building amazing applications

The Ethereum platform is natively designed for the development and usage of smart contracts in a highly robust, secure, and easy manner. The smart contract powered applications have a globalized recognition as well as ownership of the property apart from having a great value in the market. Therefore the platform easily enables the Ethereum developers, in order to create a whole financial market, records of debts and liabilities are stored, and also the future trading is made automatic through a predefined instruction. In a nutshell, all the all the risk factors of decentralized applications would be eliminated if Ethereum succeeds as a value proposition.

 

No future of gas

It is generally observed that Ethereum asset, ETH has no actual value proposition as it is not being much concentrated upon by the official Ethereum organization itself. However, ethereum gas is the way in which, we pay transaction fees to the network.

The working mechanism of Ethereum gas can be perceived very easily through an illustration. Imagine that that four people are sharing a car which is a smart contract which needs to reach a particular destination. The driver of the smart contract or the car just need to add fuel to the car to make it run, this fuel is nothing but with ethereum gas. Practically, the fuel is utilized by the engine, but as in when compared to the Ethereum network there is actually no need of ethereum gas prices to run a smart contract. It is just a theoretical concept, therefore, there is an actual value proposition for ETH as gas. This might probably make Ethereum dead.

 

Eliminating the ethereum based fees

Imagine a network where the transaction fees are collected using the Ethereum gas. The intermediary Ethereum gas which the users pay to the network is just a conceptual abstraction. The users can also be the transaction fees directly to the minor in any cryptocurrency of their choice, the Ethereum is just an intermediary and common platform for everyone to pay the fees for their convenience.

We can explicitly specify the technical specifications of a particular miner with respect to a smart contract and their ethereum based fees can be debited by directly depositing the fees in the cryptocurrencies of their choice within a smart contract, and the smart contract would take care of everything else. This is probably another reason which would make Ethereum dead.

 

They are not able to prove Ethereum economic and abstraction and this will make Ethereum dead

The official organization behind Ethereum have come forward with 4 different explanation for the Ethereum’s value proposition, which turns out to be not much noteworthy enough.  

 

Lack of software support for the network.

According to experts it is estimated that the software requirements are highly complex as well as unreliable as their native asset of ethereum is a bit different from the ERC 20 best tokens, therefore, especially added functionalities must be made available in the wallets in order to make both of them acceptable. The argument might render Ethereum dead.

 

Difficulty in the pricing of ethereum.

The market abstraction of ethereum is difficult due to the inevitable need of monitoring market prices. They need to predict future prices, in order to get the high return from the ethereum blockchain network.

 

The existence of smart contracts which is not linked to the tokens.

The smart contracts have the capability to initiate a transaction and pay the fees in any cryptocurrency token of their choice. The contracts can also be integrated with decentralized exchanges in order to fulfill the order books. However, not all the smart contracts are linked to the Ethereum based tokens.  

 

The requirement of Ethereum for its Proof Of Stake.

Also, the Proof of stake algorithm with Ethereum network incorporates doesn’t actually require any kind of Ethereum and would probably make Ethereum dead.  

#Bitcoin

XRP is now #2 Cryptocurrency, Ripple overtook Ethereum

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XRP is now officially the #2 cryptocurrency in the world with over $2.4 Billion Market Cap. The recent increase in the market cap was due to the rapid surge in Ripple Price after the XRapid Launch news was published.

The market cap of Ripple is now $23555443, which just surpassed Ethereum’s market cap of $23367070

Bitcoin Market cap stands at #1 at $116228274

 

Ripple Price Rise

XRP  Price broke all the obstacles and went to a swift uptrend against both Bitcoin and US Dollar. With the surging price, the total market cap of the cryptocurrency also noticed an enormous hype making Ripple the #2 Cryptocurrency after Bitcoin; beating Ethereum on the Cryptocurrency Market Capitalization list. More and more banks are utilizing the Xcurrent platform including the recent adoption by PNC , USA’s top financial services group.

 

Ethereum Price Decay

The former #2 cryptocurrency Ethereum noticed a vast decay in the previous few weeks with the reasons starting from large OTC selling by ICO’s (Initial Coin Offerings) and the ethereum miners backing out saying that ‘Ethereum Mining is no more profitable’. Ethereum price dropped down from whooping $450 in August to $190 a few days back. This has resulted to a huge number of prominent investors and traders opting out of the Etheruem Cryptocurrency stating that Ethereum has no future now.

 

Can Ripple Maintain the #2 position now or will Ethereum take back revenge? What are your thoughts on the same? Tell us in the comments section below.

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#Daily Price Analysis

Ripple XRP to overtake Ethereum ETH on CoinMarketCap

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At $0.4672 on reporting time, Ripple's XRP is about to make it to #2 in position in terms of Market Cap, as reported by Coinmarketcap.com

A whooping 43.96% Increase in Ripple in few hours

At $0.4672 on reporting time, Ripple’s XRP is about to make it to #2 in position in terms of Market Cap, as reported by Coinmarketcap.com

 

Reason can be Saudi Arabia’s National Commercial Bank Joining RippleNet

In spite of the poor economic situations of the previous couple of months, Ripple’s XRP has been performing admirably in the crypto space. This can be credited to its normal joint effort and organizations with various banks and firms.

As of late, Ripple declared that the National Commercial Bank (NCB) of Saudi Arabia has joined RippleNet. Crypto specialists have been envisioning this move by Saudi Arabia’s Commercial Bank and are trusting that this excellent passage of Ripple into the nation will change their financial framework.

Over the previous decade, the Kingdom of Saudia Arabia has been one of the biggest wellsprings of settlements worldwide. As indicated by the World Bank, in 2016 around $308 million was sent into the KSA, while $37 billion in settlements were sent from the nation.

According to the report, RippleNet would fill in as a medium for associating with other money related foundations over the globe to NCB. Right now, RippleNet has a worldwide client base of in excess of 5.4 million. With the assistance of RippleNet, NCB will have the capacity to offer quicker and more straightforward international installment administrations to the majority of its related customers.

This installment portal will be actualized utilizing Ripple’s blockchain technology and will assist the bank with connecting with money related organizations in North America and Asia in the underlying stage, and later spreading worldwide.

 

Ethereum ETH’s poor performance?

ETH has encountered basic adversities in price more than $1100 to $400, which it by then hit the price extent of $167 before recovering to $224.20, at the time of reporting. This might be one explanation behind the abatement in the hashrate as the diggers can’t deal with the expenses of intensity, gear bolster, and other related expenses. Cooling the apparatus has transformed into a huge expense in light of the way that a lot of warmth is made amid the time spent mining, in like manner there is a need to cool the equipment off to avoid the dissolving of sections.

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#Ethereum

Ethereum ETH: Reason for drop: No one wants to mine ETH anymore

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Ethereum [ETH] has seen a gigantic 20% drop in its hashrate. It is said to be one of the greatest drops in ETH hashrate over the previous year.

Ether Hashrate drops from 294 TH/s to 246 TH/s now

Ongoing data from Etherscan.io demonstrates that Ethereum [ETH] has seen a gigantic 20% drop in its hashrate. It is said to be one of the greatest drops in ETH hashrate over the previous year and is said to be on indistinguishable scale from those that have happened since its creation. The hashrate has dropped from 294 TH/s [Terahashes per second] to 246 TH/s.

 

From 300 TH/s to 270 TH/s in August

In August, ETH had as of late seen a drop from 300 TH/s to 270 TH/s. The 30 Terahash drop had panicked the network, raising worries about diminishing security on the stage. It is estimated that the ongoing drop happened because of basic change or in light of the fact that mining ETH was not productive any longer.

 

A 80% +ETh price Decline and still continuing

ETH has experienced critical misfortunes in price more than $1100 to $400, which it at that point hit the price scope of $167 before recouping to $206, at the time of reporting. This may be one reason for the decrease in the hashrate as the miners can’t take care of the costs of power, equipment support, and other related costs. Cooling the gear has turned into a significant cost in light of the fact that a great deal of warmth is created during the time spent mining, accordingly there is a need to chill the hardware off to evade the dissolving of segments.

This development may be demonstrative of a more major issue for miners down the line. By accepting the price to stay steady, a decrease in the issuance of ETH by 33% would result in the decrease of the miner’s fiat income by 33%. There are a couple of productive ASICs which are created so as to mine Ether, however these ASICs exercises are not being appeared in the data as a result of the ricocheting hashpower of some cryptographic forms of money.

It was expressed that Proof-of-Work [POW] mining has been an exceptionally aggressive and vitality concentrated business, prompting a portion of the miners getting ready for an outcome of a decrease in hashpower. This has prompted them being efficient and not requiring any focal coordination or specialist securing the business.

This development marks Ethereum achieving the cost of creation floor, like what Bitcoin looked in 2014-15. The Bitcoin arrange saw a significant fall in its hashrate around then, bringing about various Bitcoin mining task declaring financial insolvency.

 

Will ETH reach $53 soon? Let us know your views in comments below.

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