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Ethereum Browser Startup Status Cuts Down A Quarter Of Its Staff

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The Ethereum startup Status decided to lay off about 25 percent of its staff, according to the latest crypto news allegedly due to the steep decline in the crypto prices.

Announcing the decision on Monday, the co-founder Jarrad Hope explained that the startup is big and that it cannot be sustained since the ethereum’s price dropped more than 80 percent. The startup originally managed to raise 182,000 ETH last year during a token sale which is approximately $64 million. Another problem of the startup was the lack of solid banking partners until the second quarter of 2018.

Status decided to cut off a quarter of its staff and the company believes that this decision is considered ‘’non-essential’’ to the long-term goals of the startup.

However, the startup hopes to stretch its fiat currency holdings so they can manage to cover their expenses for the next six months. The company also hopes that the employees will accept the pay cuts and that they will accept the greater amount of SNT tokens to sooth the cut.

Hope continued to explain:

 “The reality is that we will have to make another assessment end of Q2 which if the market hasn’t picked up we will be forced to make the organization even leaner, and the remaining fiat and our large ETH holdings will be used to create a runway measured in years.”

Now, the priorities are to keep up the promises that the company made in its white paper and to get the app to be usable. Also, despite the cuts, Status confirms that they still have enough engineers that will work on the promises.

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Ethereum News

Crypto Advocate McAfee Argues For The Importance Of Stablecoins

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The American entrepreneur and staunch crypto advocate McAfee (John McAfee) has recently argued for the importance of stablecoins for decentralized exchange (DEX) adoption. As the latest crypto news show, McAfee made his claims and arguments in a tweet that he posted on October 20.https://twitter.com/officialmcafee/status/1185900360222818304?s=20As the crypto advocate noted in the video, there is one main obstacle to crypto-fiat conversions - and how the use of a decentralized exchange poses for the users.
“What’s the main issue with decentralized exchanges? It’s how do you get your fiat currencies in and out? [...] very difficult, since no information is collected on a decentralized exchange, no name, no address, no social security number, no email, nothing,” he noted.
The crypto advocate McAfee also outlined a vision for a reality in which national fiat currencies become increasingly irrelevant and a plurality of cryptocurrencies are sufficient to meeting the individuals' needs. He said:
“Imagine a world six months from now, a year from now, two years from now, where fiat currency is diminishing in importance, you can only buy houses and cars and shoes with crypto, with Bitcoin and Monero and Ethereum and others [...] soon we’ll have the ability to acquire everything that we need with crypto.”
Then, the crypto advocate McAfee proceeded and qualified his vision by proposing that - in the interim - stablecoins such as DAI can help and reduce the need for DEX users to be concerned about fiat withdrawals.The DAI concept, as he noted, is programmed via smart contracts to never lose dollar parity by more than one percentage point - regardless of the situation on the cryptocurrency markets.
“Imagine getting your currency out [of a DEX] in DAI, it’s always going to be worth a dollar.”
As we previously reported in our ETH news, the crypto advocate McAfee launched the McAfee DEX earlier this month. This is intended to be a decentralized and distributed trading platform which entails no Know Your Customer (KYC) checks and does not block any jurisdictions.https://twitter.com/saidipth/status/1180501917341863938Any ETH-based token (ERC-20 standard) such as DAI can be added without any fee to the beta version and with more unspecified tokens to be supported in the future. At the time of its launch, McAfee also argued in favor of DEX's by underscoring that the crypto community faces the question of whether its aspirations are limited to expanding the possibilities for pure speculation - "all about money" - or are about an ideal and namely freedom.
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Tron And Ethereum Casino Play Royal Secures Content Supplier Via Betsoft

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The Tron and Ethereum crypto casino Play Royal has made a new partnership for content supply with the award-winning casino games maker-Betsoft. In the Ethereum news today we find out more about the partnership.The casino games developer Betsoft has signed the partnership with Play Royal which is mostly and Ethereum-powered crypto casino and became of the few mainstream game makers to expand into blockchain-based gambling. Betsoft is not exactly new in the area as it has previously signed another partnership with other companies form the crypto gaming sector. The company also made a partnership with Casino Gran Madrid, WeAreCasino and Wanabelt.In the meantime, PlyRoyal is powered by both Tron and Ethereum which are both popular cryptocurrencies used on other crypto gaming projects. BitCasino.io added Tron earlier this year as well but before than another gaming portal, TRONUP launched a 1,000,000 TRX promotion. Betsoft Gaming’s Francesca Raniolo who is the sales executive for the company commented on the occasion:
‘’WE ARE VERY EXCITED TO ANNOUNCE OUR PARTNERSHIP WITH PLAY ROYAL, ONE OF THE WORLD’S LEADING CRYPTO CASINOS.WE PRIDE OURSELVES ON DEVELOPING INNOVATIVE, EXCITING CINEMATIC CONTENT THAT APPEALS TO A WIDE RANGE OF PLAYER TYPES, AND THIS IS WHAT ATTRACTED PLAY ROYAL TO OUR GAMES. BETSOFT GAMING LOOKS FORWARD TO A GREAT PARTNERSHIP.’’
Also, Play Royal’s CEO Tony Campbell has also welcomed the new addition of Betsfot and said that they as a team are extremely impressed with the quality of the innovative games of the platform.  Betsoft has many reasons to feel proud of the recent developments since the company was nominated for the EGR B2B awards in innovation and it secured first-place in RNG Casino Software Category. The company also received praise for the work on one of the latest additions to its portfolio and the game stands by virtue of the multi-player shoot’em up the experience by bringing the casino gaming experience closer to an authentic video game. Betsoft has had a good October with the company releasing Cashen’s Arrival which is a Chinese-themed game and the game offers an entirely new experience where the players can multiply their bet up to 35,000x times and free spins as well.
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Ethereum Name Service (ENS) Adds Multicoin Support To Wallets

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The popular distributed naming system Ethereum Name Service (ENS) is in the crypto news today for announcing the launch of its multicoin support. Even 15 cryptocurrency wallets are planning to utilize this new feature.First unveiled in a Medium post published on October 17, the service will allow enthusiasts to use one ENS name for all of their cryptocurrency wallets. It is noted that the ENS user interface right now supports only Ether (ETH), Bitcoin (BTC), Litecoin (LTC) and Ethereum Classic (ETC) addresses and not all of the endcodings.Still, the post promises that the functionality of the Ethereum Name Service (ENS) will be expanded in the coming weeks.
"ENS for Ethereum addresses was already supported by 12 wallets; with the addition of new wallets committing to support ENS because of the new multi-coin feature, the total number is now 24,"the blog post reads.
As the developers noted, this "cements ENS’s place as the most widely adopted blockchain-based naming service by a wide margin." They also recommend getting an ENS name if you want a blockchain-based name for your cryptocurrency with the widest support in the ecosystem.Some of the names of the wallets committed to integrate this feature of Ethereum Name Service (ENS) include D’CENT Wallet, Coinbase Wallet, Bitcoin.com, Opera, TrustWallet, imToken, Portis, MyCrypto, Haven, Atomic Wallet, Squarelink, Coin Request, DexWallet, Enjin and Wyre.https://youtu.be/Bgiu2gtuzaIThe team also plans to integrate the new DNS namespace and support addresses like .org, .com, and others. The functionality has already been implemented for domains such as .xyz, .luxe, .kred and .art, according to the announcement.The Ethereum Name Service (ENS) intends to roll out support for all DNSSEC-enabled top-level domains in the near future, too - the latest Ethereum news show.For those of you who are new to the concept, ENS is basically "an Internet naming service built with smart-contracts on the Ethereum blockchain, providing naming for the blockchain ecosystem and far beyond" as the Medium post defines it.However, it is also a key component for the emerging decentralized web. Managed by a non-profit organization which spun out of the Ethereum Foundation, the Ethereum Name Service (ENS) seeks to bring the blockchain benefits of decentralization, security and censorship-resistance to the Internet's naming infrastructure. 
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Ethereum Price Is Trading Near A Critical Juncture

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The Ethereum price is trading near a juncture and is currently under a lot of pressure as it recently declined below the $180 support against the US dollar. As the Ethereum latest news show, the price is currently struggling to hold an important support area near the $168 level. There is also a crucial bearish trend line forming with resistance near $174 for ETH, as the 4-hours chart indicates.Currently, the pair is struggling and could either decline below $168 or might start a decent recovery in the $182 to $185 region. Ever since ETH faced an increase in selling pressure below $185, the Ethereum price is trading below the $180 support area. This opened the doors for more losses and the price traded below $175. Finally, the price went down to $170 and tested the key $168 support area.This is how a swing low was formed near $168 and the price is still consolidating. A major immediate resistance is near the $172 level or the 23.6% Fib retracement level of the recent decline from $188 to $168 which marks a loss of more than 20% on a weekly level.Moreover, the crucial bearish trend line is forming with resistance near $174 on the 4-hours chart of ETH/USD. If we see an upside break above the trend line, the Ethereum price could recover towards $178 and be featured in the cryptonews again.If we see a major recovery, ETH could visit $185 and then $188. On the downside, the main support is near the $168 zone. If there is a bearish break below $168, the price could also extend its decline. Now that the Ethereum price is trading near $173, the next support line is near the $160 area, below which ETH may perhaps test the $152 support.What's also interesting are the charts - which indicate that the Ethereum price is trading near a crucial juncture above the $168 support. At this point, it can either decline further below $168 or might start a decent recovery towards $180.The technical indicators for ETH are as following:
  • 4 hours MACD – The MACD for ETH/USD is now weak and in a struggle to visit the bullish zone again.
  • 4 hours RSI – The RSI for ETH/USD is right now way below the 40 level, with bearish signs and indicators.
  • Major Support Level is at $168
  • Major Resistance Level is at $180
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