The previous couple of days have introduced excellent news for the Ethereum neighborhood. Not solely did ETH rise on the charts, climbing to $441 from a worth of $382 slightly below every week in the past, however the neighborhood additionally welcomed the deployment of the deposit contract for ETH 2.0. Evidently, optimism is working excessive, particularly since these developments got here on the again of months of anticipation, delays, and on-line spats.
Nevertheless, as with most developments, the deployment of the deposit contract additionally paved the best way for yet one more uncommon take, this time, by NEAR Protocol’s Illia Polosukhin who contended that regardless of all of the progress, “Eth1 shouldn’t be going anyplace.” Congratulating the builders behind the milestone, the NEAR Protocol exec additionally introduced financial assist for OpenEthereum improvement.
That’s not all, nonetheless. In actual fact, some in the neighborhood even accused Polosukhin of spreading FUD after he questioned the transition from Ethereum 1.Zero to Ethereum 2.0. Additional, the exec argued that,
“There isn’t a improvement on OpenEthereum (beforehand Parity) nearly in anyway in final 6 months. And it’s hurting decentralization of shoppers for Ethereum as nicely.”
Polosukhin’s claims weren’t taken nicely by most in the neighborhood, with some just like the Ethereum Basis’s Hudson Jameson mentioning the “high Three inaccuracies” within the aforementioned thread.
With respect to Polosukhin’s competition that “making an attempt emigrate Ethereum1 with all concerned events with out stopping chain for no less than just a few days received’t occur,” Jameson said that the identical was patently unfaithful. Whereas questioning if the previous had even spoken to builders engaged on the challenge, Jameson additionally argued that opposite to Polosukhin’s claims, the Berlin laborious fork was by no means “formally” scheduled for June 2020, including that EIP-2537 isn’t important to Serenity.
Lastly, to the NEAR exec’s declare of no improvement on OpenEthereum, an OE developer pitched in by stating,
“You’ve got been checking the incorrect repo. The OE staff labored with the backport-3.1 repo (now renamed to openethereum). We mounted bugs that parity staff didn’t repair in years as additionally we applied all berlin EIPS.”
To the identical, he responded,
“Didn’t notice there was one other repo that you simply simply renamed.
Let’s join – would like to assist the work!”
Jameson concluded the stated thread on a stern observe, claiming that exec hadn’t spoken to any OE builders, earlier than making his claims about its dormancy. Calling the staff’s work “stellar,” Jameson stated,
7/7 His thread needs to encourage FUD that many may fall for. I used to be truly beginning to assume NEAR and Ethereum may very well be pleasant and that NEAR has good intentions, however issues like this from one of the revered members of their neighborhood erases that. Do higher.
— Hudson Jameson (@hudsonjameson) November 6, 2020
Only 232 Addresses Have Deposited Ethereum in ETH2 Thus Far
There were fears that Ethereum 2.0 (ETH2 or Serenity) was going to be delayed once again. Danny Ryan, an Ethereum Foundation researcher, said in a podcast in the middle of October:
“This library is critical to creating keys, signing messages. Critical, in early phases, [means] that if you use this library, they need to be secure; if you use it to generate your wallets, it needs to have good randomness; and if you are signing your deposits which have a signature associated, it needs to be correct. Given how critical this library is, and given that, if there is a fundamental error in this library we could f*ck some sh*t up in terms of genesis deposits, that is the blocker.”
Fortunately, the ETH2 deposit contract was recently released by developers. The deposit contract will facilitate a transfer of Ethereum from the original blockchain to the new one.
Last week, the Ethereum 2.0 deposit contract was released. Investors could deposit ETH in this contract, which will allow depositors to claim ETH2 on the second network once it goes live.
While there is some uncertainty about the exact yields depositors will get by doing so, there has been much Ethereum deposited in the contract.
According to crypto-asset and Ethereum-focused analytics firm Dune Analytics, 47.7k ETH has been sent to the deposit contract over the past few days. That is 9% of the 524,000 ETH threshold needed to launch this network.
There have only been 232 depositors who have deposited coins into the contract thus far. Some have said that due to there being uncertainty about the yields offered and if the funds will be entirely safe, retail investors are hesitant to deposit. There is also the complication of setting up a validator node for ETH2, which may be preventing further investment.
Currently 47.7k ETH sent to the ETH2 deposit contract 🌄
9% of the 524k threshold 🧗
Only 232 depositors so far with 13.9k ETH from the top depositor 🍄https://t.co/4RidXcKw7v pic.twitter.com/JMKZX5nUS7
— Dune Analytics (@DuneAnalytics) November 8, 2020
Vitalik Buterin has been one of the key participants in this contract.
Analysts online noted that one of Vitalik Buterin’s known addresses has deposited 3,200 ETH, meaning enough coins for 100 validators, into the contract.
In Buterin’s address, there remains $2.5 million worth of Ethereum. It is unclear if he will continue depositing those coins into the deposit contract.
There are other whales participating in the deposit contract as well, though it isn’t 100% clear who exactly these individuals are.
Author: About The Author
Ethereum (ETH) price remains in a bull market. Should I invest?
Ethereum price has weakened from $420 below $373 in less than three weeks and the current price stands around $382. According to the latest news, Ethereum miners generated $214 million in revenue in October, down from $321 million in September.
According to the rules of technical analysis, the main trend of this cryptocurrency is neutral-bullish.
Author: News Bureau
Ethereum market cap soared by more than 200% to $44.3bn | London Business News
Cryptocurrencies continue their impressive growth in 2020, drawing more and more attention from investors in times of economic uncertainty caused by the COVID-19 outbreak.
According to data presented by AksjeBloggen.com the market capitalization of the world’s second-largest crypto coin, Ethereum, soared by 213% YTD to $44.3bn, 2.5 times bigger increase than the leading cryptocurrency Bitcoin.
After an impressive performance in the first two months of 2020, Ethereum market capitalization slumped by 58% in the second week of March, falling to $12.7bn, revealed the CoinMarketCap data.
However, the price of the world’s second-largest crypto coin quickly bounced back, with market cap recovering to $25.1bn in the second quarter of 2020. Statistics show the increasing trend continued in the third quarter of the year, with the combined value of all Ethereum coins peaking at $53.5bn in September, a 102% jump in three months. Although the last month witnessed a slight decrease, with the market capitalization slipping to $44.3bn, this value still represents a 250% jump after the crash in March.
As the world’s leading cryptocurrency, Bitcoin witnessed an 86% increase in market capitalization since the beginning of the year. In January, the combined value of all Bitcoins circulating in the crypto space amounted to $130.54bn. After a sharp fall to around $90bn in March, this figure surged to $176.2bn in June, a 95% jump in three months. Statistics show the market cap of the leading digital currency globally rose to $245bn at the end of last week.
XRP, the third-largest cryptocurrency globally, witnessed a 32% increase in market capitalization in 2020, with the figure rising from $8.4bn in January to $11.1bn last week.
Besides a surge in market capitalization, Ethereum also witnessed a significant increase in daily transactions worldwide. In the first quarter of 2020, the average number of daily Ethereum transactions amounted to 537,900, revealed the BitInfoCharts data. Over the next three months, this figure dropped by 14% to 463,100.
However, at the end of the third quarter of 2020, there were more than a million Ethereum transactions recorded daily worldwide, a 100% increase since the beginning of the year.
Author: News Bureau