First Loan Issued With Ethereum Domain Name (Brantly.eth)

First Loan Issued With Ethereum Domain Name (Brantly.eth)

Rocket LP DAO is a 4-month old loan provider which is the cryptocurrency news today for using non-fungible tokens (NFTs) as collateral. As we can see this week, this firm issued the first loan of $1,000 backed by only one Ethereum domain name – brantly.eth.

The loan was issued for 90 days with a 15% interest rate and is the first loan to ever be issued with only an Ethereum name service domain name for collateral.

As we can also see in the ETH news, ownership of the ENS domain name (represented as an NFT) has been temporarily given to Rocket as the issuer of the loan. NFTs are ERC-721 tokens which are created to digitally represent a physical or digital asset. The most prevalent use case revolves around tokenizing ownership of valuable assets and can be transferred to another user using a smart contract.

Meanwhile, the 90-day loan is worth 6.5 ETH ($1,000 at the time of the issue) and was given to ENS director of operations Brantly Millegan on Tuesday. Even though he retains the ability to use the domain name during the term of the loan, Rocket has authority over it. If the loan defaults, Rocket will retain ownership of the domain name and has the right to remove Millegan’s access to it entirely.

A domain name, however, may be purchased for very little. However, Millegan explained in a Medium post that “Brantly is my first name and this particular ENS name has great personal value to me so I have a strong incentive to repay the loan.” This is why the loan was the first loan issued with an Ethereum based domain name.

All of this definitely raises the question of whether we can accurately value or tokenize sentiment. Even though the transaction is recorded on the blockchain, there are users who suggest that the valuation was too high or it has little correlation to an NFT. “Might be worth 1/10th of that on the market,” one user commented.

The crypto community continues to push the boundaries set in place by the traditional financial systems along with various P2P lending opportunities among other new approaches. In the market turmoil recently, MakerDAO was one of the coins in the altcoin news which caused a stir as it struggled to handle the wild fluctuations – and is now facing a $28 million lawsuit.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

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Author: Published 10 hours agoon April 17, 2020By Stefan


Is New Binance Chain Ethereum Killer?

Is New Binance Chain Ethereum Killer?

All pointers suggest that Binance, under the guidance of Changpeng Zhao, is going for the jugular and are keen on competing with Ethereum.

They recently released the white paper of the Binance Chain, a blockchain platform that they claim will not only be decentralized but its virtual machine will be compatible with Ethereum.

Thing is, Ethereum is the kingpin in smart contracting and is a market leader.

However, space is heating and competitors are stepping up, rolling out platforms that resolve some of Ethereum’s core fallibilities like scalability. Ethereum is based on the Proof-of-Work consensus algorithm and is satisfactorily decentralized.

For decentralization and security, the network creators have to contend with scalability troubles barring high demand applications like social media platforms from launching on the platform without straining the core.

Now, Binance Chain, gleaning from its white paper, promises more.

An extract reads that the chain will not only be compatible with Ethereum but it will be easy for decentralized applications, dapps, to migrate to Binance with zero or minimal changes.

“To take advantage of the relatively mature applications and community, BSC chooses to be compatible with the existing Ethereum mainnet. This means most of the dApps, ecosystem components, and tooling will work with BSC and require zero or minimum changes.”

Binance, has over the years, been trying to price away promising dapps from the Ethereum platform to the Binance chain.

The most important part of Binance Chain’s new whitepaper. It is compatible with Ethereum to make sure the Ethereum dApps are compatible with Binance Chain with “zero or minimum changes.” Now with smart contract support, Binance Chain is fully taking on Ethereum pic.twitter.com/zWIOqZSAwx

— Larry Cermak (@lawmaster) April 17, 2020

But the introduction of smart contracting capability means that the tables are turning. Binance, could as well turn out to be a real threat, a “killer”, of Ethereum.

Their virtual machine will be based on Tendermint and the new chain will run parallel to the Binance chain, an ecosystem that continues to be built from 2019 which comprises a decentralized exchange, DEX, where several tokens are traded.

For ease, both chains can seamlessly communicate. Besides, it will allow staking as the new chain, BSC, seeks to combine decentralized Proof-of-Stake, a variant of Proof-of-Stake, and Proof-of-Authority (PoA).

The only coin allowed for staking will be BNB.

It only makes sense that Binance is doing this now. Last year, Binance was lambasted for delisting ETH pairs while pushing BNB.

“There was some kind of partnership with Binance with developing the exchange and Binance had as a condition to delist or not list ETH pairs so BNB gets pushed. I think this might be the reason, no hard proof though.”

There was some kind of partnership with Binance with devlopng the exchange and Binance had as condition to delist or not list ETh pairs so BNB gets pushed. I think this might be the reason, no hard proof tho.

— Zabi D.🗯️ (@zabisara) March 19, 2020

It was even said the exchange approached teams and urged them to migrate to the Binance Chain.

Still, nothing can be taken away from Binance. The exchange has grown to be one of the largest in the world just three years after launching. Earlier this month, they acquired CoinMarketCap, a coin tracker for a whopping $400 million.

They also have their tentacles around the globe including South Africa and the Caribbean enabling the trading of crypto-fiat, margin, and derivatives contracts.

Summary

Is New Binance Chain Ethereum Killer?

Article Name

Is New Binance Chain Ethereum Killer?

Description

Binance is launching a smart contract chain to take on Ethereum. The new chain will enable staking blending two consensus algorithms.

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Binance Futures Limited Offer: Use this link to register & get 10% discount on fees.

Dalmas is a very active cryptocurrency content creator and highly regarded technical analyst. He’s passionate about blockchain technology and the futuristic potential of cryptocurrencies and enjoys the opportunity to help educate bitcoin enthusiasts through his writing insights and coin price chart analysis. Follow him at @dalmas_ngetich

Source: coingape.com


Ethereum: USD/ETH (ETH=) - What is Ethereum? A Beginner's Guide

Ethereum: USD/ETH (ETH=) – What is Ethereum? A Beginner’s Guide

Ethereum: USD/ETH (ETH=) – What is Ethereum? A Beginner’s Guide

In the cryptocurrency world, if Bitcoin is the king, then Ethereum is the queen.

The price of Ethereum (ETH) has risen significantly in the past few months, and it’s one of the most promising cryptocurrencies right now. In this article, I will help you understand everything about Ethereum & you would learn all the important things that you should know as a beginner. Before that,

Here’s a situation:

Consider you have just booked an Uber ride and a driverless car has come to pick you up.

That car takes you to the gasoline station and self-pays for its fuel with the money it earned from the previous ride. Afterward, this car takes you to your destination, and the trip fare is auto-deducted from your Uber wallet.

While driving you to your destination, the car also self-paid its annual insurance fee and its monthly liability fee on behalf of its (human) owner.

After it drops you off, it drives itself to a mechanic for some repairs.

You might be thinking I am telling you a scene from a Sci-Fi movie.

But to your surprise (and mine), I am not!!

Such things are being tested, and the use of cryptocurrencies like Ethererum and technology like the Ethereum blockchain are the reasons that something like this can happen.

Such autonomy is the direct effect of the theories behind cryptocurrencies.

So to be able to digest this futuristic scenario, let’s understand Ethereum.

As the official Ethereum project website says:

“Ethereum is a decentralized platform for applications that run exactly as programmed without any chance of fraud, censorship, or third-party interference.”

But what’s special about that? All software runs as it was programmed to do so…

Well, the code written on the Ethereum blockchain can’t be altered, tempered, or hacked. This tamper-proof feature ensured by cryptography makes it an interesting application of the blockchain technology.

Ethereum is not just a blockchain; it’s a decentralized programmable blockchain-based software platform. In a way, you can say that its married to its cryptocurrency asset (called Ether – ETH) which runs the Ethereum network.

Ethereum allows you to build and execute smart contracts and Distributed Autonomous Applications (DApps), without censorship, downtime, or any third party.

The inbuilt programming language Solidity is used to write smart contracts and DApps. After that, the cryptocurrency asset (Ether) helps in executing these apps and contracts.

This is why Ethereum is also called programmable money.

  • History Of Ethereum

A Russian programmer Vitalik Buterin created Ethereum in late 2013. Vitalik formally announced Ethereum in January 2014 at The North American Bitcoin Conference in Miami, USA.

Ethereum was created to do things which Bitcoin could not do.

The idea of Ethereum is simply not another cryptocurrency.

Rather it is an effort to code, run, and execute smart contracts and DApps independently without human interaction.

With the joining of Dr. Gavin Wood as co-founder, in July 2014 the Ethereum Foundation bootstrapped the development of Ethereum software and raised $18 million in presale of Ether tokens.

  • Vitalik Buterin (CEO) – Through Bitcoin in 2011, Vitalik discovered cryptocurrencies and blockchain technologies. He founded Bitcoin Magzine in 2012 out of this curiosity to understand Bitcoin. After getting the Theil Fellowship in 2014, he dropped out of the University of Waterloo to work on Ethereum full-time. Vitalik understood what blockchain technology had to offer for the future, and in 2013, he invented Ethereum.
  • Gavin Wood (CTO) – In 2014, Gavin met Vitalik through a mutual friend and got to know about Ethereum. He invented the smart contract language called Solidity. He also wrote the first yellow paper on the Ethereum blockchain for the Ethereum Virtual Machine (EVM).
  • Jeffery Wilcke – Since its inception, Jeffery has been looking after the implementation of the Go programming language on Ethereum.
  • Ming Chan – Ming serves as the executive director of Ethereum and looks out for regulatory and legal matters of the Ethereum blockchain.

Total number of Ether to be produced

Most people want to know how many Ethereum will be produced.

But it is not the Ethereum that will get produced or mined; it is Ether.

Ethereum is the network based on the blockchain technology and Ether is the cryptocurrency which helps in running the platform.

Ether (ETH) will be issued at a constant annual linear rate via the block mining process. This rate is 0.3 times the total annual amount of ETH created in the pre-sale.

60,102,216 Ether was created in the presale:

  • 0.3 times 60,102,216 equals 18,030,664.8

Approx 18 million Ether per year.

  • Mining of Ether

The Ethereum blockchain is kept secure by Ether, which is an incentive to miners.

The Ether supply is limited to 18 million per year. Every 12-14 seconds, a new Ethereum block is mined, and a reward of 5 Ether is given to the computer who mined it.

Ether can be mined through CPU and GPU Mining via mining blocks on the Ethereum blockchain.

  • Market Capitalization (Market Cap)

Ethereum has currently $20 billion as its market cap.

This is 1/3 of the market cap of Bitcoin, yet it is still a worthy cryptocurrency having. As of now, the present value of one Ether (ETH) coin is $231 – this has increased more than ten times since the first of week of February 2017.

Ethereum (ETH)
171.11 USD (2.08%)
0.02415193 BTC

RANK

2MARKET CAP

$18.92 B USDVOLUME

$19.17 B USD

Powered by CoinMarketCap

The question still remains whether or not Ethereum will be a popular platform powered by its ETH coins.

It will be interesting to see what the market cap does in the coming days.

  • Popular Ethereum Wallets
  • Hardware Wallets – Trezor, Ledger Nano S
  • Mobile Wallets – Jaxx (iOS, Android), Ethereum Wallet (iOS)
  • Desktop Wallets – Jaxx (Windows, Mac OS, Linux), Coinbase
  • Web wallets: CoinPayments
  • Paper Wallets – MyEtherWallet, Classic Ether Wallet, EthAddress
  • Binance: Supported pairs are ETH/BTC
  • Bitfinex: Supported pairs are ETH/BTC
  • KuCoin: Supported pairs are ETH/BTC

The Decentralized Autonomous Organization (known as The DAO) was made on the Ethereum blockchain to act as a Venture Capital Firm-owned and operated by no one. It was supposed to work on the basis of smart contracts which were executed using DAO tokens.

It launched with $150 million in crowdfunding in June 2016.

Immediately after the launch, it got hacked.

DAO tokens worth US$60 million were drained out by hackers due to a faulty code of DAO.

Then soon after that, a Hard Fork was implemented on the Ethereum blockchain at Block 192000 to refund the loss of DAO token holders. The Hard Fork made the hacked transaction invalid, and a new version of the blockchain was formed.

Hence, ETC (Ethereum Classic) was born.

Ethereum Classic’s blockchain is the same in every way with Ethereum’s until Block 192000, where the hard fork was applied.

Users who did not support the hard fork idea continued to mine on the old version of the blockchain without upgrading its version.

Since then, both communities have diverged based on the version of blockchains they are using. ETC (Ethereum Classic) is traded on an exchange platform and offers the same functionality of decentralized apps and smart contracts.

At the start of this article, we saw how exciting services like Uber could become if made decentralized on the Ethereum platform.

Similarly, there are a few such rapidly growing use-cases of Ethereum that are being developed.

A few are:

Golem is the world’s first decentralized and open-sourced supercomputer developed on Ethereum that anyone can use.

This computational power is made available from the contribution of small personal laptops to giant data centers.

As a user of this platform, you can run a website, calculate a difficult computational problem, or run along code using additional computational resources.

You can even run miners using this computational resource and mine cryptocurrencies.

It opens the possibility of an economy which shares computing power wherever unused.

Through this, anyone can make money ‘renting’ personal computers.

Brass Golem, presented by Golem, is the first practical application which makes computer graphics computation a lot faster.

66% of the world is willing to share their assets for financial gain.

Slock.it is developing a shared economy through its trademark products, which makes all underused things available for renting purposes.

It makes the interaction of physical objects such as apartments, vehicles, offices, etc. possible with smart products programmed on the Ethereum blockchain.

Let’s take something like Airbnb: Accommodations could become entirely automated using smart objects (such as smart lockers) which are programmable on Ethereum and would work with one click of a smartphone.

uPort is an open-source, user-friendly system to establish a global, unified, and sovereign identity system for people, businesses, organizations, devices, and bots.

Imagine a use-case where you are receiving your parcel from a DHL or FedEx drone which is built on an Ethereum smart contract.

It will hand over the package at your specified time and will verify your identity with the uPort’s blockchain.

What an incredible application that would be!!!

SingularDTV is the world’s first decentralized television series and royalty management platform.

In this system, entertainment rights and funds are distributed among the creators, writers, investors, crew, and actors without any fraud.

As this has no centralized party, the funds of any contributor cannot be confiscated. All get paid as the execution and delivery of funds are coded into the smart contracts, and most importantly, there are no third parties involved.

The ecosystem is based on the Ethereum blockchain, and users use crypto tokens (known as Singles) to drive the DTV ecosystem.

This is a microblogging service running on the Ethereum blockchain.

It is a microblogging site like Twitter (which also allows up to 160 characters), but it is entirely decentralized, running on the Ethereum blockchain.

Content is shared, created, and removed without any censorship as it simply runs off of the blockchain. Publishers can earn Ether if their content is upvoted.

Bitcoin is a peer-to-peer electronic cash system.

Bitcoin is digital money. The Bitcoin blockchain only stores and handles all past transactions since the very start of its network.

This ensures easy accounting and transfer of value (i.e. money).

But the Ethereum blockchain, apart from handling accounts and transactions, also stores programming logic.

Here’s an example:

  • On the 8th of May, transfer $Y from A’s account to B’s account if A’s account has more than $X. If not, don’t transfer $Y to B’s account.

And these types of codes, once executed, are stored historically on the Ethereum blockchain forever. This helps to understand future decision-making processes.

Ethereum is different from Bitcoin mostly because with Ethereum, you can not only transfer money (i.e. Ether), you can execute smart contracts.

There are a lot of real-world scenarios where we trust third parties, middlemen, and escrow agents to enforce the transaction. In this way, they all earn their cut. With Ethereum, such parties will become useless as the technology matures. Some of these are Uber (which I explained during the introduction of this article), freelancing platforms like Upwork, Insurance Agents, Escrow agents, eBay, and Airbnb (to name a few).

If a replica of these above applications is made on the decentralized Ethereum platform, it will result in the following advantages and a positive disruption of each industry:

  • Elimination of the possibility of a single point of failure or control.
  • Remove traction and make the process faster.
  • Reduced cost as the middlemen will be removed.
  • And while Ethereum is fundamentally different from Bitcoin,Ethereum and Bitcoin are not competitors. They coexist and solve different types of problems in the real world and both open up a possibility for a new future.

    The future of Ethereum is not only bright as a digital currency, but also as a platform to run smart contracts and DApps.

    It is accelerating the migration from a centralized economy to a decentralized, borderless, and permissionless global economy.

    Decentralized applications would positively disrupt and change industries such as finance, entertainment, real estate, academia, insurance, healthcare, the public sector, and social media.

    Just as the inventors of the internet had no idea that in a couple of decades social media and cloud computing applications would emerge, we don’t have any clue what sort of applications will eventually emerge out of the Ethereum blockchain.

    After the DAO hack, the future looks promising for Ethereum. In terms of volume, Ethereum has already become the most traded cryptocurrency of 2017.

    Shortly, the prices of Ethereum will probably rise.

    Ethereum is constantly growing and innovating. Whatever I have shared with you is only the tip of the iceberg.

    To keep up with the exciting news of inventions and trading, visit the below links:

    • https://www.ethereum.org/
    • Ethereum WhitePaper
    • Ethereum DApps
    • https://www.reddit.com/r/ethtrader/
    • https://www.reddit.com/r/ethereum/
    • http://ethdocs.org/en/latest/index.html

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      eth news, ethereum, ethereum forecast, ethereum news, ethereum techncial analysis, investing, shayne heffernan, trading, usd/eth

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    Bitcoin, Ethereum, and XRP Back in the Green

    Bitcoin, Ethereum, and XRP Back in the Green

    • Bitcoin turned the $7,000 level as support and it seems to be aiming for a move towards $9,000.
    • Ethereum, on the other hand, is leading the market, but its 200-day moving average could spell trouble.
    • Meanwhile, XRP is struggling to advance further up due to the lack of demand.

    Bitcoin, Ethereum, and XRP surged in the last few hours, making a rebound alongside the stock market as COVID-19 pandemonium cools. It seems that the crypto market is ready for a further advance.

    Bitcoin is up more than 7.5% in the past 12 hours. The sudden bullish impulse allowed it to regain the $7,000 level as support. Now, the flagship cryptocurrency could be heading to $9,000 or higher, if the bulls step in.

    Considering that on Apr. 6 Bitcoin broke out of an ascending triangle, the bullish outlook seems extremely likely. This technical formation is defined as a continuation pattern that projects a 34% target to the upside upon the breakout point.

    Since the pioneer cryptocurrency recently pulled back for a retest of the breakout point, it could now be preparing to resume the uptrend and reach higher highs.

    Nonetheless, the TD sequential indicator is currently presenting a sell signal in the form of a green nine candlestick on BTC’s 3-day chart. This index estimates that Bitcoin could go through a one to four candlesticks correction. If validated, the bellwether cryptocurrency would likely drop to the setup trendline that sits around $5,600.

    Due to the ambiguous outlook that Bitcoin presents, the Fibonacci retracement indicator can be used to determine the direction of the trend.

    Breaking above the Apr. 7 high of nearly $7,500, for instance, may trigger a stage of FOMO (fear-of-missing-out) among investors due to the proximity of the halving. Such a bullish impulse could have the potential to push BTC up to the target given by the ascending triangle, as previously mentioned.

    Conversely, if the strength of the 23.6% Fibonacci retracement level weakens and fails to hold, the odds for the bearish outlook will increase. Under this premise, Bitcoin would likely fall to the next areas of support around the 38.2% and 50% Fibonacci retracement levels.

    These demand barriers sit at $6,100 and $5,700, respectively.

    Ethereum stole the spotlight in the cryptocurrency sphere after skyrocketing nearly 18% in the last few hours. The smart contract giant surged from a low of $148 to a high of $174.

    IntoTheBlock’s “In/Out of the Money Around Price” (IOMAP) model reveals that the upswing was triggered by more than 1.4 million addresses that bought over 8 million ETH between $150 and $161. This significant number of addresses appear to have bought the “dip,” expecting a further advance in Ether’s price.

    While long Ether positions continue reaching new all-time highs in Hong Kong-based cryptocurrency exchange Bitfinex, Ethereum is facing strong resistance ahead. Indeed, the 200-day moving average appears to be containing the second largest cryptocurrency by market cap from a further bullish impulse.

    It is worth mentioning that this is the second time Ether is trying to break above this hurdle since the Mar. 12 crash. Thus, its strength is weakening, which adds credence to the optimistic outlook.

    An increase in demand around the current price levels could allow Ether to break its 200-day moving average. If this were to happen, the IOMAP estimates that the next significant supply barrier sits between $182 and $187. This is where nearly 1 million addresses are holding 3.36 million ETH.

    Even though the bullish outlook seems promising, there is also a probability that the 200-day moving average continues to hold. A rejection from this resistance level could send Ether back to $161 or lower.

    Therefore, waiting for confirmation will be key to profit from ETH’s next major price movement.

    While most of the top cryptocurrencies by market cap were able to post significant gains during the first quarter of 2020, Ripple’s XRP ended Q1 with a negative return of 10%. The cross-border remittances coin got slashed by 70% during Black Thursday, as its price dropped to levels not seen since May 2017.

    From a long-term perspective, it seems like the downward movement was predictable because XRP continues making a series of lower lows and lower highs since the January 2018 peak. While this crypto does not close above the Feb. 15 high of $0.35, one could expect another swing low.

    In the meantime, XRP is trying to regain its 50-day moving average as support. If it succeeds, it will likely move further up to test its 200-day moving average. This resistance barrier is currently hovering around $0.23.

    Failing to turn the 50-day moving average into support will increase the odds for another lower low.

    Investors appear to be growing more optimistic as U.S. President Donald Trump affirmed that the biggest economy in the world is preparing to reopen because growth in new coronavirus infections has tapered off.

    Now, not only is the stock market showing signs of recovery, but also the cryptocurrency industry. Although the Crypto Fear and Greed Index is still sensing “extreme fear” among market participants, some could be taking advantage of this sentiment to buy Bitcoin on the cheap as the halving approaches.

    From a market marker perspective, it seems reasonable to pump prices in the run up to the upcoming block rewards reduction to get as many investors as possible to FOMO-in. Once prices are up, these so-called “whales” would likely dump their holdings, pushing the market back down, profiting from the wild price action.

    This type of market manipulation strategy can be across the previous Bitcoin halvings. In the upcoming one, history may repeat itself.

    The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

    You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

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    Source: cryptobriefing.com

    Author: by Ali Martinez


    First Loan Issued With Ethereum Domain Name (Brantly.eth)

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