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Bitcoin is getting ready for another major increase according to several analysts. Ethereum instead is stuck in a downtrend that might last for a while. Too many unresolved problems hold down the second major cryptocurrency. Ethereum is hard to build on, has abundant scaling issues, and many developers are looking elsewhere.
Samsung has filed a patent for a solid-state device which can execute mining calculations much more efficiently than a regular computer. But it is programmable and therefore has more flexible uses that ASICs. Bitcoin dominance of the crypto market reaches 70% while the price soars again. Growing pains for the Lightning Network: security flaws and decreasing membership.
The Ethereum drop seems never-ending. A new analysis estimates a value as low as $ 140. Security issues have been found in the Lightning Network which could cause loss of money if you don’t upgrade the node software right away. The Gram token sale is doing exceptionally well in Asia. The TON network promises easy porting of Ethereum smart contracts.
The Lightning Network, created to facilitate micro-payments in Bitcoin (BTC) is losing support very quickly. Owners of payment nodes gain very little in exchange of freezing vast amounts of their own Bitcoins. It is a dangerous downward trend. The Telegram Open Network offers a compiler for porting Ethereum DApps and smart contracts.
Ethereum price keeps dropping, and there is still no reliable answer to the issue of scalability. Bitcoin is experimenting with “Level 2” protocols to make transactions faster. Examples are the Lightning Network, Coinbase, and Liquid paper wallets. None of these solutions addresses the double-spending problem effectively. But as we look back at the original Satoshi Nakamoto’s statements, we see that a possible solution already exists.
Major Bitcoin Development Accelerator Program. BTC Strengthening. Storm on the Lightning Network & MoreCryptoEnsemble Crypto Reports
Binance has launched an accelerator program for blockchain and cryptocurrency development. It will include educational direction as well as tools and channels for online collaboration. They have already onboarded 40+ opensource projects. Maxim Orlovsky presents the Storm concept: decentralized file storage built on top of the Lightning Network.
The end of the week sees a major decrease in value of several Altcoins with Ethereum dropping all the way to $169. New target according to Keiser is $90. Bitcoin dropped markedly in a short time while holders have sold off coins in order to settle futures that are coming due on Friday for BTC. Other Altcoins performing badly are Litecoin, Bitcoin Cash, EOS and Ripple’s XRP.
We see a lot of action in the stablecoin arena. Ripple is nearing a potential internal rift. Investors are tired of the continuous dumping of value by the existing management. A particular investor is threatening a hard fork if the situation won’t change in the next 60 days. Another stablecoin, Tether is monopolizing the Ethereum network, pushing away most of the other developers. Facebook is continuing its maneuvers around Libra, but Telegram will beat it on timing by releasing its Gram by October.
Given the high number of exchanges dealing in cryptocurrencies, aggregate trading data are quite unreliable. Most exchanges inflate their figures and speculators create fake deals to influence the market. Nomics, a cryptocurrency data analytics firm, reports than only 17% of reported Bitcoin trading volume is trustworthy.
Bitcoin has hit another record. The “Realized Market” is $ 100 million. It measures the effective value, by removing coins that have been forever lost and are no more part of the market. Ethereum Classic is booming ahead, anticipating the hard fork scheduled for September. Dubbed Atlantis, it will improve security considerably on the blockchain. It will also be more compatible with Ethereum.
The ICO frenzy is coming to an end. People are no more just throwing money into questionable projects for then seeing it disappear through exchanges. They now want to better understand the technical fundamentals of a project. They want to know enough in order to participate and choose the right opportunity. The four markets with real potentials, according to investment expert Simon Kim, are gateways for wireless, browsers, and payment platforms, gaming. With the ever decreasing Ethereum trend, it looks like the first Alt season is over. A brand new one will replace it.
Bitcoin market domination has reached the highest levels. The Ethereum front is not going well. Developers are getting nervous and reopen old fights with the Bitcoin “maximalists.”
Bitcoin is solidly growing according to different experts. A new spike in value is expected shortly. It dominates the crypto market with a percentage of about 90% of the overall value. Ethereum is down-trending. Development issues and a growing lack of confidence for the future push the value down. On the other hand, Ethereum Classic is going strong. Juan Villaverde, from Weiss Ratings, sees potential in Cardano and Fantom, despite their indifferent performance this year. Facebook’s Libra is getting in more trouble with its original supporters.
Vitalik Buterin, the founder of Ethereum and its primary developer, keeps pointing out dead ends as far as Ethereum scaling is concerned. Now it is the turn of Level 2 protocols (those operating outside of the main blockchain) like the Lighting Network and Ether Plasma. Other competitors are claiming higher speeds and don’t see scaling problems thus far. Bitcoin dominance is now at 90%. Ether and EOS might go even lower. Some well-known traders have recently proclaimed the death of the Altcoin market. But there is one, Arianna Simpson, founder, and CEO of Autonomous Partners. Who believes Altcoins could come back.
Major flood submerges major Bitcoin mining installations in China. Hashrate and network performance remain unaffected. Bitcoin value is declining, but analysts see very bright spots ahead. Ethereum close to significant dive. The Network is not scalable anymore. Problems keep surfacing with old ICOs which were Ethereum-based. European Union is probing Facebook’s Libra project while new companies are trying to join it.