Ethereum (ETH) Co-Founder Announces 1,000,000 Tx/s Network: Details

Ethereum (ETH) Co-Founder Announces 1,000,000 Tx/s Network: Details

Vladislav Sopov

The Polkadot (DOT) cross-chain sharded protocol is among the most technically advanced projects of the whole blockchain industry. Now its mainnet is anticipated even more

Gavin Wood, founder of Parity Technologies and co-founder of Ethereum (ETH), has contributed to numerous industry-level decentralized products of Web 3.0. Yesterday he excited the community with the prospective specifications of the Polkadot network.

According to the announcement from Mr. Wood, his highly anticipated project Polkadot (DOT) will demonstrate insane transaction performance. Even in ‘basic’ implementation, without parachains and multithreading (elements of sophisticated in-network interaction in the Polkadot (DOT) infrastructure), the system will process about 1,000 transactions per second.

To give context, Ethereum (ETH) can process about 15 transactions per second while Bitcoin (BTC) shows even poorer results. Top-level second-layer solutions for Ethereum (ETH) networks like Matic Network or LOOM target four-digit numbers in TPS.

Commenters on Mr. Wood’s account welcomed this announcement. Investor and developer Damian Durruty (@foobazzler) asked when we can expect the mainnet release of Polkadot, which was delayed in 2019. According to the semi-joking answer from Mr. Wood, it is right around the corner: 

As previously reported by U.Today, experts believe that with the implementation of the ZKRollup scalability function, Ethereum (ETH) could surpass the VISA card payment system TPS of 2000 Tx/s.

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Source: u.today

Author: Fri, 05/01/2020 – 13:17


ETH/USD: Ethereum supply will be halved on Ethereum 2.0 – Vitalik Buterin

ETH/USD: Ethereum supply will be halved on Ethereum 2.0 – Vitalik Buterin

  • ETH/USD has resumed the recovery after a sharp correction.
  • The transition to Ethereum 2.0 will lead to a reduced ETH supply.
  • ETH/USD hit $202.45 low on April 30 amid sharp downside correction that followed a strong bullish run on the cryptocurrency markets. However, by the time of writing, the second-largest digital asset managed to regain ground and settled above $214.00. ETH/USD is unchanged on a day-to-day basis and 4% higher from the start of the day. Ethereum’s market capitalization has reduced to $23 billion, while an average daily trading volume settled at $26 billion.

    According to Ethereum co-founder Vitalik Buterin, ETH issuance will be reduced significantly after Ethereum 2.0 goes live. Speaking in the podcast with POV Crypto called “Internet Money”, he explained, why the team had chosen to upgrade consensus mechanism to Proof of Stake.

    One of the reasons why we’re doing Proof of Stake is because we want to greatly reduce the issuance. So in the specs for ETH 2.0 I think we have put out a calculation that the theoretical maximum issuance would be something like 2 million a year if literally everyone participates.

    Source: www.fxstreet.com


    Bitcoin, Ethereum & Ripple - American Wrap: 4/30/2020

    Bitcoin, Ethereum & Ripple – American Wrap: 4/30/2020

    BTC/USD dropped from the intraday $9,476 to $8,547. The first digital coin lost nearly $1000 in a matter of hours before recovering to $8,8820 by press time. Despite the sell-off, BTC is still 10% higher from this time on Wednesday. A sustainable move below $9,000 has created a strong bearish momentum; however, the coin is heavily bought on the dips.

    Co-founder of Framework Venture Mike Anderson believes that the price of LINK token may increase by 700% in May and push Ethereum from the second place in the global cryptocurrency rating. 

    LINK is a native token behind the Chainlink project, focused on creating a blockchain-based cross-platform solution for secure connection of smart contracts with the external data sources., such as data channels, APIs, etc. The project was launched in 2017, now its Ethereum-based token sits on the 13th place in the global cryptocurrency rating with the current market value of $1.3 billion.

    Ripple had a great Wednesday and pushed higher toward the 200 simple moving average (SMA). Today (Thursday) it all looked so promising as the price started the session higher but since the price has come crashing down and with further inspection its not hard to see why.

    The resistance level marked by the orange rectangle below shows that the 50% Fibonacci, 200 SMA and resistance zone all matched up to form the perfect blended resistance area. The bulls just could not take out the level despite a valiant effort to do so. 

    What future awaits cryptocurrencies?
    GOODBAD

    Image sourced from PIxabay

    Source: www.benzinga.com

    Author: FXStreet , Benzinga Contributor

     

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    Ethereum Price Prediction: ETH/USD Touches New Month High At $226

    Ethereum Price Prediction: ETH/USD Touches New Month High At $226

    ETH Price Prediction – April 30

    The price of Ethereum climbed higher today and touched $226 Resistance Level.

    Key Levels:

    Resistance levels: $255, $260, $265

    Support levels: $170, $165, $160

    ETH/USD has tested $226 during early Asian hours after which it went down and touched the $201.75 level but later managed to recover above $215 at the time of writing. The price of Ethereum (ETH) with the current market value of $217.25 has stayed unchanged on day-to-day with a loss of 1.76% as the coin is rebounding back to where it started trading today.

    Moreover, the price of Ethereum is still trading within the ascending channel. Looking at the daily chart, we can see that ETH/USD is trying to recover from the loss of today. Therefore, if the buyers continue to push the market higher, the immediate resistance above the $220 level may be located. Above this, further resistance levels lie at $255, $260 and $265.

    Alternatively, as the technical indicator RSI (14) nosedives from the overbought zone, if the bears put more pressure, they may likely bring the market price down below the 9-day moving average as the bears can expect the immediate support to be located at $180. Below $180, further support is found at $170, $165, and $160 levels.

    Against Bitcoin, the Ethereum (ETH) is still trading below the 9-day and 21-day moving averages within the channel while the price is changing hands at 2404 SAT. The coin may experience more drops if the technical indicator RSI (14) continues to move below 50-level to indicate the downward movement.

    However, the daily chart reveals that the market faces the south while the bulls are trying to bring the price back to where it started trading at 2462 SAT. If this possible, the coin may likely move above the channel to hit the resistance levels of 2800 SAT and 2900 SAT. Conversely, a lower sustainable move may continue to attract new sellers with the next focus on 2100 SAT and 2000 SAT support levels.

    Please note: Insidebitcoins.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

    Source: insidebitcoins.com


    Ethereum 2.0 Staking Upgrade Can Trigger A New ETH Price Rally

    Ethereum 2.0 Staking Upgrade Can Trigger A New ETH Price Rally

    ethereum 2.0 staking eth price

    — Adam Cochran (@AdamScochran) April 29, 2020

    — Adam Cochran (@AdamScochran) April 29, 2020

    Stefan is a full-time member and has been a Bitcoin Specialist for over 6 years. Providing daily news and updates for DC Forecasts.

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  • Hourly MACD – The MACD for ETH/USD is currently gaining strength in the bullish zone.
  • Hourly RSI – The RSI for ETH/USD is now well above the 55 level.
  • Major Support Level – $193
  • Major Resistance Level – $200
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    Source: www.dcforecasts.com

    Author: Published 2 hours ago on May 1, 2020

    By Stefan


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