Ethereum, Polkadot, BinanceChain and More – Blockchain Technology Trends for 2021|

Ethereum, Polkadot, BinanceChain and More – Blockchain Technology Trends for 2021|

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The current year was quite favorable for the blockchain development industry. The outcome of the passing year shows there has never been a better time to start a blockchain-based project.

This review presents an analysis of the most significant events in the crypto market and tells how this will affect the blockchain development industry. In this piece we will also share some predictions about blockchain technology for 2021.

Upcoming blockchain platforms

A number of recently implemented tech approaches and upcoming blockchain solutions offer suggestions for blockchain trends in 2021.

Ethereum 2.0 launch

Questions regarding Ethereum enhancement have been circling crypto people’s minds for several years already. Comments and inconveniences were mainly focused on the issue of scalability, slow TPS and the amount of transactions allowed for one block – 12 is just so little for today’s blockchains.

The core concept behind the new Ethereum 2.0 version can be found here. The main

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Ethereum, Polkadot, BinanceChain and More – Blockchain Technology Trends for 2021

Ethereum, Polkadot, BinanceChain and More – Blockchain Technology Trends for 2021

The current year was quite favorable for the blockchain development industry. The outcome of the passing year shows there has never been a better time to start a blockchain-based project.

This review presents an analysis of the most significant events in the crypto market and tells how this will affect the blockchain development industry. In this piece we will also share some predictions about blockchain technology for 2021.

Upcoming blockchain platforms

A number of recently implemented tech approaches and upcoming blockchain solutions offer suggestions for blockchain trends in 2021.

Ethereum 2.0 launch

Questions regarding Ethereum enhancement have been circling crypto people’s minds for several years already. Comments and inconveniences were mainly focused on the issue of scalability, slow TPS and the amount of transactions allowed for one block – 12 is just so little for today’s blockchains.

The core concept behind the new Ethereum 2.0 version can be found here. The main focus of 2020 4Q was the launch of Phase 0. It stands for Beacon Chain adoption and the integration of the new Ethereum PoS which launched on the December 1, 2020.

The biggest and long-anticipated update for 2021 will be the planned introduction of Phase 1 and integration of PoS and shard chains (expected in 2021 Q4).

The world has never seen a transition of such a big ecosystem. Therefore, the emergence of numerous doubts and uncertainties seems quite reasonable. Along with the future implementation of sharding, this will significantly improve network operability speed and increase transaction throughput. That is why this Ethereum transition will deservedly become one of the biggest blockchain trends in 2021.

Polkadot parachains

“Polkadot is a sharded blockchain, meaning it connects several chains together in a single network, allowing them to process transactions in parallel and exchange data between chains with security guarantees”. – Polkadot lightpaper

In order to connect to the Polkadot ecosystem, or build your own blockchain within it, a user needs to link to Relay Chain which is a main blockchain for Polkadot. Until now five out of 100 parachain slots have been successfully connected. Although 100 was initially defined as the primary goal, there are some thoughts about voting to extend the number of allowed slots.

The biggest number of slots is expected to be added gradually over the next few years. In addition, a significant amount of projects previously deployed to Kusama testnet will start the transition to the Polkadot environment.

This alteration will surely have a great impact on the crypto market because the overwhelming majority of projects built on the Substrate (Acala, Moonbeam, Halva, Edgeware, Centrifuge etc.) establish ​​joining Polkadot as one of the main goals.

BinanceChain break-In

BinanceChain has started its smart chain in the fourth quarter of 2020. The launch gathered a lot of attention and positive feedback among the community. Thus, it resulted in enormously fast development by the dedicated community environment and the start of very promising projects like PancakeSwap DEX.

In addition, this chain is supported by Trust Wallet which is a very reliable player in the blockchain market. Their involvement was justified by one of the largest airdrops to support Binance and its smart chain a few weeks ago.

The total value locked in DeFi (TVL) started to grow and show very promising results at the end of December. Moreover, the cross-chain ecosystem of Polkadot, along with a renewed and scalable Ethereum 2.0, will surely make a real industry revolution.

Prediction for blockchain DeFi market

The DeFi TVL is currently over $20 billion (according to DeFi Pulse). This is a strong base for the sector’s future growth.

The beginning of a decentralized financial market marks one of the greatest initiatives with proven potential to develop throughout 2021. However, such a promising market certainly attracts many unstable projects and scams. We expect the gradual downfall of DeFi hype in the coming year along with the survival of authentic, true projects that have a broad community and support from big authorities.

A list of factors (with Covid pandemic at the lead) have a big impact on today’s crypto market. First of all, due to the continuous accumulation of capital, the market became pumped and significantly oversaturated with liquidity. Therefore, we shall assume a big boom for small-to-medium-sized blockchain-based projects.

On the other hand, the pandemic issue has raised the question of cybersecurity to the highest priority. As a result, the other boom covering decentralized projects will be the emphasis on security problem solving.

Blockchain technology trends to come in the 2021

Based on the continuous market research and analysis of the coming changes we are able to establish a few predictions about blockchain technology trends.

Strengthening of Solidity language

The recent release of Solidity 0.8 brought a few major changes to the language structure, providing more ease for programmers. In addition, OpenZeppelin released Defender and renewed their contracts in the last quarter of the past year. Those new implementations and the adoption of more convenient toolsets pushed blockchain development towards Solidity even more.

Growth of Brownie development platform

However, on the other hand, Brownie is strengthening its position in relation to Traffle. This is justified by the fact that Viper is becoming more and more popular and, for example, Yearn Finance (the largest DeFi platform after several mergers) chose Brownie to host all development processes. From this perspective we can expect that more and more projects will choose Brownie as a primary smart contracts development framework or move to it.

Higher demand for Rust programmers

As we have mentioned before, the upcoming release of Polkadot parachains will make a huge impact on the market. Polkadot Relay Chain is built on the Substrate framework with Rust. Moreover, Rust is the programming language of one of the main Ethereum nodes – Parity.

Therefore, the will of projects to connect to the multichain in the near future and further implementation of numerous advantages and protocol enhancements will push the demand for developers with great expertise in Rust.

Decentralized identity management

The current issue with KYC and identity management, in DeFi in particular, builds a solid ground for development trends. The CEO of Blaize, Sergey Onyshchenko, shares the same view regarding this topic.

“In the KYC market there is the empty field for development opportunities. This is a very sensitive topic for decentralized exchanges in particular; therefore, sooner or later a big player will come here to offer a completely new approach to identity management.

Another important thing that’s coming is the tokenization of assets from the real business sector such as real estate or art. Such projects as Centrifuge have already begun development in this direction and offer the introduction of tokenized invoices which enable you to take out a loan on the security of such an invoice.”

Conclusion

Drastic market changes along with the worldwide pandemic opened up many new niches and has boosted the development of alternative technologies. Last year was quite favorable for the blockchain market and fruitful in terms of newborn technologies and very promising projects. But the recent growth of main cryptos like Bitcoin and Ethereum show that it has not reached its limits.

Zlata Parasochka is a tech writer and crypto believer. She also has her own blog on the Hacker Noon website.

Source: dailyhodl.com


ETH bulls remain hopeful whilst above 21-DMA

ETH bulls remain hopeful whilst above 21-DMA

  • ETH/USD awaits a fresh catalyst for the next push higher.
  • The No. 2 coin wavers in a rising channel on the daily chart.
  • Bulls need to crack $1275; 21-DMA guards the downside.
  • ETH/USD trades strongly bid, holding onto the $1200 level so far this Sunday, having closed Saturday modestly flat.

    The world’s second-largest cryptocurrency fell sharply from the record highs of $1440 and hit nine-day lows at $1040 last week. The decline followed the former Fed Chair Yellen’s comments, citing that cryptocurrencies are mainly used for illegal activities.

    Yellen, US Treasury Secretary nominee said: “Cryptocurrencies are a particular concern. I think many are used – at least in a transaction sense – mainly for illicit financing. And I think we really need to examine ways in which we can curtail their use and make sure that money laundering doesn’t occur through those channels.”

    What cryptocurrency will become the main one in a year?
    BitcoinEthereum

    Note that Ethereum has almost doubled its price since the start of this year from around $750 to break above the $1400 mark on Tuesday. The surge in prices to all-time highs comes ahead of the launch of Ethereum futures trading, kicking-off from February 8. 

    ETH/USD: Daily chart

    The daily chart of Ethereum shows that the price is in a gradual uptrend, wavering in a rising channel formation.

    The technical setup appears constructive as long as the bulls hold above the 21-daily moving average (DMA) at $1205.

    The 14-day Relative Strength Index (RSI) continues to hold higher above the midline, allowing more gains. The RSI is seen at 59.50, as of writing. Also, the No, 2 coin holds above all the major averages on the said timeframe, keeping the buyers hopeful.

    Acceptance above the intermittent highs near $1275 is critical to extending the renewed upside, especially after the price formed a doji candlestick on Saturday.

    The bulls could threaten the $1300 psychological magnate, as they likely resume their journey towards lifetime highs.

    To the downside, the rising trendline support at $1066 could be tested on a sustained break below the 21-DMA cap.

    A daily closing below the pattern support could confirm a downside break, opening floors towards the upward-sloping 50-DMA at $883, as the correction from record highs would pick up pace.

    Source: coingraph.uno


    Ethereum Nears $350

    Ethereum Nears $350

    Ethereum is up by about 8% today on huge unfiltered volumes of $11 billion with it reaching a market cap of nearly $40 billion and a price of $342.

    The world computer has processed 1.25 million transaction, its highest level ever since the peak of about 1.35 million.

    An experiment is also ongoing half a decade on since the scaling debate in regards to miners setting capacity, in this case the gas limit, which they are voting to increase.

    About $1.2 billion worth of eth was moved on the blockchain in the past 24 hours, just 3% of its total market cap.

    That doesn’t include all the tokens running on eth which make up about 700,000 transfers a day, with ERC-20s now reaching a market cap of $33 billion.

    They performed $30 billion in volumes in the past 7 days, but $27 billion of it is just tether according to Santiment, a blockchain analytics company.

    Thus if we include tether, ethereum is transferring about $5 billion a day. If we exclude it, then it is about $1.5 billion a day of total value moved on-chain.

    Those are big numbers for a five year old network which is once again leading the space in price action.

    For a few days bitcoin tried to take the show, with that ping pong between the two now maybe back as both are pushed up or/and push up the other coins as well.

    The total crypto market cap has now reached $330 billion, not even 1/3rd of Apple. It can 10x, according to Ark Invest, to $3 trillion.

    Trump is doing his part with more helicopter money coming after the governors crashed the economy by some 40% in the first half.

    Germany saw only -10% with that country too a federation, but there it seems the governors utilized a bit more common sense.

    UK is -25%. Now they’re implementing some other measures on Manchester where you shouldn’t meet other people in their homes, but there’s some sort of confusion on whether you can meet them in the pub.

    Not that anyone can keep up with all these new rules they make along as they go, with most people turning off their TV some months ago.

    For there’s an eth show on, and it is up by $3 while this article was being written to now $345.

    Source: www.trustnodes.com


    Top Analyst Predicts Bitcoin Bottom Is In – Here Are His BTC, Ethereum and Altcoin Allocations

    Top Analyst Predicts Bitcoin Bottom Is In – Here Are His BTC, Ethereum and Altcoin Allocations

    A prominent crypto strategist who made a name for himself after nailing Bitcoin’s collapse to $4,000 in March 2020 is back with another bold call.

    In a new tweetstorm, the analyst known in the industry as Capo looks at a number of technical indicators to show why he believes that the correction in the broader crypto market is over.

    The trader explains that the sharp decline in BTC’s open interest, which refers to the number of contracts held by market participants, is a bullish signal.

    “Open interest went down with the price. This means that longs have been liquidated or that they have closed their positions, which is healthy for the bullish trend.”

    Capo also notes that bulls are making their presence felt as a momentum indicator flashes a signal often seen at the end of a pullback.

    “BTC RSI has been reset on all timeframes, forming hidden bullish divergences on high timeframes.”

    Looking at altcoins, Capo highlights that many tokens, including Ethereum (ETH), are respecting key levels.

    “ETH and many altcoins have bounced from the golden zone, and they have also formed hidden bullish divergences.”

    In addition, Capo highlights that sentiment across crypto markets has dropped to levels not seen since Bitcoin started its bull rally.

    “Fear & greed index have dropped to 40 (fear). We haven’t seen these levels since May or September, when price was $9,000 – $10,000.“

    Capo also says buyers are starting to step up and demand will erupt once prices start to show signs of recovery.

    In preparation for the next leg up, the trader reveals that he’s betting heavily on altcoins.

    “My portfolio: 60% alts, 30% ETH, 10% BTC, 0% USDT.”

    As for which coins the trader could be possibly holding, Capo unveils that he’s closely following the movements of Cardano (ADA), Syntropy (NOIA), and Polkadot (DOT).

    With the crypto market showing signs of a local bottom, Capo now expects the bull market to resume.

    “I haven’t sold anything and I have reaccumulated everything I could in this great opportunity. Let the bull market continue.”

    Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

    Source: dailyhodl.com


    Ethereum Starts Fresh Increase, Why ETH Could Surge To $1,500

    Ethereum Starts Fresh Increase, Why ETH Could Surge To $1,500

    Ethereum started a fresh increase above $1,300 against the US Dollar. ETH price is showing positive signs and it is likely to continue higher towards $1,400 and $1,500.

  • ETH price is gaining bullish momentum above the $1,250 resistance level against the US Dollar.
  • The price is likely to face hurdles near $1,380, but it is well above the 100 simple moving average (4-hours).
  • There was a break above a major bearish trend line with resistance near $1,265 on the 4-hours chart of ETH/USD (data feed via Kraken).
  • The pair is likely to continue higher towards $1,400 and $1,500 in the coming sessions.
  • This past week, bitcoin and ethereum saw a fresh decline below $1,200 and $35,000 respectively against the US Dollar. ETH price even declined below $1,100, but it remained stable above the $1,000.

    A low was formed near $1,042 before the price started a fresh increase. There was a strong close above $1,200 and the 100 simple moving average (4-hours).

    There was also a break above the 50% Fib retracement level of the downward move from the $1,440 swing high to $1,042 low. There was a break above a major bearish trend line with resistance near $1,265 on the 4-hours chart of ETH/USD.

    Ethereum

    Source: ETHUSD on TradingView.com

    Ether price is now approaching the $1,345 resistance zone. It is close to the 76.4% Fib retracement level of the downward move from the $1,440 swing high to $1,042 low.

    A clear break above the $1,345 level could open the doors for a fresh increase above the $1,400 resistance zone. In the stated case, the price could continue to rise towards the $1,500 level. The next major resistance sits near the $1,530 level.

    If Ethereum fails to clear the $1,345 and $1,380 resistance levels, it could start a downside correction. The first key support on the downside is near the $1,240 level.

    The main support is forming near the $1,180 level (the recent breakout zone) and the 100 simple moving average (4-hours). Any more losses could lead ether price towards the $1,080 support zone.

    Technical Indicators

    4 hours MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone.

    4 hours RSI – The RSI for ETH/USD is well above the 50 level.

    Major Support Level – $1,240

    Major Resistance Level – $1,380

    Source link

    Source: icryptodesk.com

    Author: admin


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