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Should I sell Ethereum now?

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You must sell ethereum token (ETH) and buy at a cheaper rate maybe when it falls to $30 - $55 range in the next few weeks.

Yes, you must and buy at a cheaper rate maybe when it falls to $30 – $55

 

Introduction

Cryptocurrencies were developed prominently to eradicate the problem of double spending, in which a particular virtual currency would be spent two times at different places. Many other virtual currencies existed before the existence of Bitcoin also but didn’t gain much popularity due to their inefficient technological implications. with the Inception of Bitcoin in the year 2009, many other cryptocurrencies followed the trend, and as a result of which, currently there is 1500 variety of them available in the market. The decentralization of cryptocurrencies is the backbone of the technology which provides with amazing security and none other forms of currency could be compared with.

 

How is Ethereum inefficient?

It seems that the Ethereum market prices have been plummeting in the past few months and many of the cryptocurrency professionals are recommending to sell ethereum the users can buy Ethereum after some time maybe when the prices are even low. A number of specific reasons have been outlined, as to why the native cryptocurrency of the ethereum blockchain is absolutely not important, also the how the gas price is affecting the ethereum prices. Also, the Ethereum network is highly susceptible to fork as well as copy, as the developers can effectively create another cryptocurrency which is competitive with that of Ethereum.

 

Is Proof of Stake mechanism not required?

Due to its high competitiveness and susceptibility of getting copied very easily the high prices of the ethereum token is highly unsustainable in the current market conditions. The Ethereum network recently made a great move and its history as the whole community members along with the architectural blockchain decided to implement the Proof of Stake algorithm and drop the Proof of Work algorithms, as it was proven to be highly inefficient. But even the Proof of Stake consensus algorithm doesn’t seem to be that reliable in the case of the Ethereum blockchain, as it would indirectly cost the investors, in order to be successfully implemented. Therefore it is highly advised to sell Ethereum at the current point in time.

 

Various reasons to sell Ethereum

There are a number of reasons which provoke the users to sell ethereum. It is very well known that the Ethereum network is not scalable enough, to accommodate all of its smart contracts and decentralized applications run on the ERC 20 protocol. The ethereum blockchain even lacks a number of prominent use cases, therefore, we must consider to sell ethereum. Amidst its rising competitors in the market, even the Proof of Stake consensus mechanism is consistently being criticized by the experts in the field, which marks the downfall of ethereum and it is one of the greatest reason to sell ethereum. Therefore, one must consider such allegations in a serious manner on the world’s second most popular cryptocurrency.

 

Statistics supporting to sell Ethereum

According to statistics, it has been estimated that the Ethereum blockchain doesn’t prove to be an effective asset class. Therefore, one might sell Ethereum at the current point of time and may buy them back, after sometime when the prices fall further. The experts even believe that the Ethereum blockchain is still immature and cannot handle its popularity and widespread adoption. These were a number of reasons that outline the inefficiencies of the ethereum blockchain and the vigilance of the investors as well as day traders towards the Ethereum blockchain.

 

Many of the prominent figures in the cryptocurrency industry, like Nick Szabo who is alleged to be the former Bitcoin creator, Satoshi Nakamoto but he has constantly been denying all such allegations on him. According to him, the noble Ethereum network is highly inefficient in nature and is headed towards a great disaster or a bureaucracy.

 

Signing off

We can never understand or predict the future of the cryptocurrency market but with certain calculated predictions and by utilizing the wisdom of crowd as well as the experts, some amount of prediction can resonate with the future market conditions of the ethereum network. According to the current market situations and all the calculations, it leads to only one conclusion that the investors may sell ethereum and buy them, maybe after a few months when the prices are even low up to $30. the ethereum coin is listed on various cryptocurrency exchanges has Binance, Coinbase, Bitfinex, Kraken, KuCoin, etc which can be utilized to sell Ethereum.

 

Note: None of the above is a financial advise and we do not encourage that you take any decision based on the article. The article is only the opinion of the writer and you must do your research before buying or selling any digital asset including ETH.

#Ethereum

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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10 Reasons why Ethereum price is never going to rise again

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Ethereum itself is falling behind in what it can offer its users. Since it is an ‘abandoning ship’ it is unlikely that the prices will upward movement.

Predictions of the end of ETH are gaining momentum. Apparently, such forecasts are stoked by the founder of the Ethereum himself, via latest admissions that the platform needs deep changes and without these new adaptations (say Casper or Plasma) the end could not be very far.  

Ethereum’s utility thus far has been its smart contracts. At a time when Bitcoin was the only thing around, the ‘smart’ technology of the new network caught everyone’s fancy. However, today this very ‘technology’ has seen vast advancements, and Ethereum itself is falling behind in what it can offer its users. Since it is an ‘abandoning ship’ it is unlikely that the prices will see any sort of upward movement.

 

The tirade against things at Ethereum is:  

1. Much of the initial phase of growth was due to “occult marketing.”  

 

2. The approach of the original devs is abandoned and many “trusts at governance level of ETH.”

 

3. Non-ethereum changes are introduced under the brand ship of ‘centralized’ trademark Consensus Systems Corporation.

 

4. Ethereum Futures shall not be in the same category as Bitcoin Futures because of the lack of sustainability on the Ethereum network. New assets which are pegged to Ethereum will also not be able to perform. Thus Futures cannot be an alternative plan to nurture the platform and revive it.

 

5. ERC20 power cryptocurrency token is a big challenge as users need to pay ‘gas prices’ and not use part of the transaction itself to pay the ‘trading’ fees.

 

6. ETH failed to scale

 

7. Forgot to secure contract authoring

 

8. Failed to be competitive

 

9. Public blockchain platforms have taken over from stable crypto assets which want to remain private. Hence, Ethereum is limited in what it can offer in the near future.

 

10. Proof-of-Stake is a dicey methodology over Proof-of-work which is common in bitcoin

 

While the above are some of the reasons which are driving the final nails into ETH obvious demise, there are several macro-level questions to the evolution of this ‘smart contract’ platform.

 

The Future

ETH issues are complicated – from software support issues to market pricing and non-token contracts and Point of Sales Ethereum, it currently is able to hold its own among the competition.

It is the future of ETH and it prices which are the question.

ETH inefficiencies dominate and is preventing mass adoption, despite the popularity of ETH.

The biggest crippling impact on Ethereum thus far has been the high attrition rates of decentralized applications or dApps.

Nearly all of the evolving and performing applications are moving to the EOS platform. These include the Tixico, Was, Insights Network and Medipedia. The EOS platform it appears is offering them a solution to the bottlenecks they face on Ethereum. The key factors which had seen rapid growth were – the blockchain’s own transaction speeds, but its biggest obstacle has been its inability to have a plan for sustainable growth. Eos platform allows blocks to be developed under 0.5 seconds, and also supports expansion up to millions of transactions.

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