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Ethereum News

Craig Wright Calls Out Ethereum For Being Unable To Scale

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Chris Wright, the self-proclaimed Satoshi Nakamoto, throws shade to Etheruem (ETH) in today’s ethereum news, calling it unable to scale or called it the blockchain for bucket shops. He made the claims in a document that was submitted to the Commodity Futures Trading Commission.

In December last year, the CFTC consulted the public regarding Etehreum in order to understand more about its technology and in the response, Craig Wright submitted a long document in which he attacked Ethereum. Wright’s document was submitted on the last day of the survey and it seemed like it was written quickly.

At the beginning of the document, Craig Wright says that he is the creator of Bitcoin and that he initially launched it to be the first cryptocurrency used for trading without the traditional back-end trading processes. He also pointed out that he created Bitcoin not to be anti-regulation.

Wright goes on to attack the entire system of Ethereum from calling it a rip-off and being unable to scale upwards:

 “This network has already hit its limit and is effectively only being used to raise capital using illegal bucket shops that are designed in such a way that they can deceive nontechnical parties,” wrote Wright. “No technology released within Ethereum for the provision of computation or ICOs has been created that did not exist prior and in a more effective manner before this network was launched.”

This isn’t the first time Craig Wright attacks Ethereum but Vitalik Buterin has also attacked Wright calling him a ‘’fraud.’’

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Ethereum News

Ethereum Price Closer To $175: Is $182 The Next Milestone For ETH?

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There has been a strong rebound in the Ethereum price lately. As the coming altcoin news show, the price of ETH has managed to reach $175 but later corrected to its current levels at $171. Still, the momentum is big and the ETH/USD pair has tested the $170 resistance level, settling above the 100 hourly simple moving average, as data from CoinMarketCap shows. Finally, the Ethereum price broke the $169 and $170 resistance levels and extended the rally towards the $175 level (from yesterday's altcoin news analysis), testing the $174 level and currently consolidating its gains below that level. The initial support is near $172 and the 23.6% Fibonacci retracement level of the recent wave from the $164 swing low to $174 high. On the downside, there are currently many supports near the $170 and $169 levels which were the previous resistances. Right now, the Ethereum price is changing hands with $172 and if it corrects and stabilizes below that margin, it is likely to find support near the $168 area. The good news, as shared on many best cryptocurrency news sites and by a lot of experts, is that the initial resistance is near $175 - which means a lot for Ether buyers. In other words, the Ethereum price could be pushed above and there could be a strong move towards the $180 and $182 resistance levels. That way, if buyers remain in action, we are likely to see a chance of a run towards the $190 resistance area. Looking at the latest cryptocurrency news and the chart, the Ethereum price is now trading nicely above the $168, $169 and $170 support levels. As long as there is no close coming in the $168 region, the price will remain in a positive zone. Below this level, the next support will be at $164 and the 100 hourly simple moving average. Right now, the overall price action is positive and the recent break above $170 suggests that bears are clearly struggling and trying to push the Ethereum price lower.
  • The technical indicators are as following:
  • Hourly MACD – The MACD for ETH/USD is pushing higher and gaining a bullish momentum, with a lot of positive signs.
  • Hourly RSI – The RSI for ETH/USD surged above the 60 level and it is right now stabilizing near 75.
  • Major Support Level is at $168
  • Major Resistance Level is at $175
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Altcoin News

Ethereum And Ripple Added To Coincheck’s OTC Trading Desk

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ethereum and ripple
Ethereum and Ripple are officially added to the Japanese crypto exchange Coincheck’s over-the-counter trading desk. The latest cryptocurrency news today has more information about this amazing news. According to reports, Ethereum and Ripple are the first two altcoins to be added on the new OTC trading desk. Coincheck started operating its over-the-counter (OTC) service with Bitcoin (BTC) just when the month started and now offers Ethereum and Ripple one as the second and the other as the third largest cryptocurrency by market cap. The Over-the-counter trading desks offer multiple specialized services for large-volume traders. This allows the traders to save money on fees and to avoid what would in other way be considered as hurdles during purchasing or selling major crypto investments through the old traditional methods. The new feature became extremely popular among many crypto exchanges worldwide. Also, a blog post from Coincheck today shows that the exchange is considering adding other altcoins despite Ethereum and Ripple. The exchange stated that other altcoins will join the OTC trading desk but didn’t mention which ones will be prioritized. The data on Ethereum and Ripple shows some interesting facts. For example, on the Ethereum chain, analysts reported a 4% decrease in the number of DApp users compared to last year. Around 74,422 old users are still using the Ethereum-based DApps in 2019 – while decentralized exchanges (DEXs) are responsible for more than half of the ETH DApp transaction volume, followed by gambling applications. Ripple went through a series of developments during this week. For example, the blockchain initiative by the European Commission stated Ripple is a crucial associate. Also, the Ripple Company made a partnership with the UK-based RationalFX in order to lend their RippleNet payment system. Finally, the Nordic Growth Market owned by the popular Boerse Stuttgart introduced an XRP tracking exchange-traded product for its investors.
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Bitcoin News

Bitcoin And Ethereum Revisit Their 2017-Like Peak Trading Volume Levels

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The latest cryptocurrency news show Bitcoin and Ethereum from another perspective. Despite the recent market correction and the slide which saw the market lose around $17 billion, BTC and ETH have rallied nearly $1,000 in a matter of a single hour at the start of this month. This movement was featured on most of the best cryptocurrency news sites and was able to drag the crypto market along with it. As the altcoin news then showed, many altcoins managed to increase their trading volume and total market capitalizations because of Bitcoin and Ethereum, accordingly. Ripple, Litecoin, Bitcoin Cash...Many altcoins benefited from the rally, which was seen as the end to the bear market bottoms and finally positive news coming following the "crypto winter" that was pronounced and accented a lot over the past couple of months. Meanwhile, Bitcoin and Ethereum reached levels that weren't witnessed since the 2017 peak trading volume. In more detail, BTC's parabolic advance was broken at the tail end of 2017 with its all-time high of $20,000 which has become a distant memory. However, the trading volumes and the momentum that has built up showed that BTC and ETH have regained their ability to surge during short amounts of time. Throughout the 2018-2019 bear market, we saw volume continually diminishing. Everything began to ramp during the fall through $6,000 but quickly dropped back to the low levels. In what's seen as the longest bear market for Bitcoin on record, a major trend change occurred during last week's rally. This took Bitcoin's price from $4,200 to $5,200 in a matter of one hour - proving that bullish action may be on the corner. According to experts as well as certain indicators, Bitcoin and Ethereum went through a reversal that was legitimate - but bears have yet to give up - which is mostly evident in the latest pullback. We'll see what the rest of the day and tomorrow brings for the crypto market and if BTC and ETH are able to quickly recover from their recent downfall.
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Altcoin News

Tron Has Fastest Growing DApp User Base, But Ethereum Is Still The Developers’ First Choice: Report

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A new report released on April 9 by the DApp (Decentralized Application) analytics website DApp.com is in the altcoin news - revealing that Tron (TRX) has the fastest growing user base while Ethereum (ETH) is shrinking its user base in the DApp ecosystem. On the Ethereum chain, analysts reported a 4% decrease in the number of DApp users compared to last year. Around 74,422 old users are still using the Ethereum-based DApps in 2019 - while decentralized exchanges (DEXs) are responsible for more than half of the ETH DApp transaction volume, followed by gambling applications. It seems like gamers are the most active ETH DApp users - with more than 40% of the daily active users reported as gamers - a number which is up by 10% in the first quarter of this year. The report also stated:
“The Ethereum-based games have already created a stable community with a group of loyal audience.”
According to the numbers in it, the Q1 of 2019 showed that 504 DApps were added to the DApp.com list, of which more than half were Ethereum-based.
“It shows that Ethereum is still the No.1 choice for developers to build their dapp on. At the same time, we also have seen a trend in multi-chain developing, as many Ethereum dapps expand on multiple chains, such as Ethereum + EOS or Ethereum + Tron," the report sums up.
The number of active DApp users on the Tron blockchain reportedly amounted to over 300,000 while on EOS it is around 260,000. The report also showed that by the end of Q1 2019, the number of Tron wallets exceeded $2.3 million and about 15.46% of them interacted with DApps. Around 85% of Tron's DApp users interacted with the apps in Q1 2019 which translates to Tron being the most active chain among the four blockchains. The report also pointed out that 95% of the EOS DApps reported a transaction in the first quarter of the current year as did over 80% of Tron and Steem (STEAM) based decentralized apps. For more of the latest cryptocurrency news, head to our homepage!
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