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Ethereum News

Ethereum Will Improve Outreach With Latest Marketing DAO

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Ethereum will improve its outreach with the help of a new DAO tasked with public outreach and marketing for the protocol named The Marketing DAO. The organization includes one of the former chief marketing officers from Consensys and Shapeshift among the founders as we are reading in the Ethereum news today.

The group of Veteran Ethereum ecosystem supporters founded this new project to help boost the outreach of the crypto platform.  Not like the Ethereum Foundation which is focusing on building the infrastructure of the technology and aims to attract developers, the Marketing DAO is trying to set a standard for how the protocol reaches out to the community and public. This is one area in the ecosystem that has been long overlooked.

DAOs or decentralized autonomous organizations use rules that are enforced via blockchain smart contracts rather than simply relying on legal agreements. With the tokenized voting members are able to vote on different initiatives and to conduct governance much like the traditional corporation. DAOs also have a very long history in cryptocurrency.

An Ethereum-based DAO known as the DAO was hacked in 2016 for more than $70 million in Ether which resulted in the first hard fork of the cryptocurrency and this is how Ethereum Classic was created. Also, other DAOs have begun to gain meaningful traction like other crypto-assets backed lending platforms MakerDAO and dXDao. Ethereum’s marketing DAO will fork from Moloch Dao which went live at the start of the year and raised up to $700,000 in funding from the Ethereum Foundation.

Moloch DAO was designed to boost the Ethereum projects and this is also one of the ways how Ethereum will improve the marketing goals with the help of the new organization. One of the goals of the organization is to kill misinformation but it does not quite specify what misinformation exactly. Ethereum is often criticized for the relatively low transaction throughput when compared to other challenges such as TRON and EOS.

Members of the Ethereum community have responded by insisting that Ethereum 2.0 will solve multiple scaling issues with the dramatic scaling improvements via sharding and other expanded core-level capabilities.

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Ethereum News

Ethereum Express Launches New Proof-of-Authority Consensus

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Ethereum expresses developers will now use the proof-of-authority consensus algorithm in order to allow the validators to maintain their reputation and still ensure successful throughoutput of blocks. Let’s find out more in the Ethereum news below.The blockchain technology has earned the attention of the major names in banking and IT but many other heavy industries such as Google, Facebook, IBM, and Microsoft. Many of these companies invest in the blockchain development sectors of their own decentralized solutions. Businesses are often taken as the benchmark for determining how one technology is useful but the user factor is the one that decides at the end whether a new tech will live up to the expectations.Blockchain technologies are very paradoxical since they were initially adopted by average online users rather than businesses. In the second quarter of 2019, the number of unique users that have at least one registered blockchain wallet reached up to 40 million people. This is a five-time increase compared to 2016. The upward trend proves that the interest in blockchain among ordinary users is growing despite the downtrend of prices during 2018 and 2019.During this changing market, Ethereum Express found a way to help the validators maintain their reputation. Being a specialized platform for the strong community of blockchain enthusiasts, it will offer the users a chance of becoming a part of a new generation of a crypto ecosystem with ease and full transparency of all of the operations. For this purpose, the Ethereum Express project develops the tools that will allow the users to generate income without the need to have expensive mining equipment.The platform is built on the Ethereum blockchain which has been hailed as a major tech revolution in trust management. Given that the bandwidth of the Ethereum blockchain cannot exceed 15 transactions per second, the Ethereum Express developers build another blockchain that operates on the basis of the EEX Coin which is later used for facilitating connections between the world of gaming and mining thus creating a backup global cryptocurrency.Ethereum Express offers a number of advantages for businesses despite the fact that the system is still under development.
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Ethereum News

Ethereum Co-Founder: “We May Interoperate With China’s CBDC”

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The founder of ConsenSys, Joseph Lubin, who is also known as the Ethereum co-founder recently said that he hopes that China's Central Bank Digital Currency (CBDC) will allow for interoperability with public permissionless blockchains such as Ethereum.Lubin made the remarks in an interview with Forbes which is viral in the Ethereum news now - and was published on November 9.
“I assume it is going to be exactly what Chinese leadership thinks is most beneficial to Chinese leadership. Hopefully that’s also open and we can interoperate with it, but I don’t know," the Ethereum co-founder explained in one of this most important thoughts.
Furthermore, Lubin added that he would like to see increased participation from China in the Ethereum ecosystem. He also cited the case of the Belt and Road blockchain-based commerce platforms and noted that it uses one of the "weaker technologies" compared to the public blockchains such as Ethereum.
“I would love to help China get expert in Ethereum technology. [...] The main idea is that Ethereum is the strongest of the blockchain technologies and it’s a very positive virus to implant in people’s minds,” Lubin noted.
The Ethereum co-founder who designed the network along with Vitalik Buterin also said that he expects China to continue undermining the US dollar and its status as the world reserve currency. However, he also noted that he believes that the China CBDC national currency will only have a minor impact in this regards.
“There are lots of reasons why American influence is shrinking and will probably continue to shrink. That may not be a bad thing but in some ways, it’ll be a bad thing. China’s particular cryptocurrency I don’t think is a major factor,” the Ethereum co-founder concluded.
As a last resort, Lubin also address the willingness of China to obstruct access to digital currencies all because they will compete with its own. He explained that the government and its ability to impede access to ETH in China depends on progress in the deep packet inspection and how motivated the nation will be to this end.When asked about the China CBDC and whether he truly believes in its implementation, Lubin added:
“China is a business that writes its own rules and has an enormous customer base — 1.4 billion people. That’s a tough economic force to compete with. I do think there’s an instability. I think leaders are constantly terrified of revolution, so they have to keep the people relatively happy at some baseline level.”
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Ethereum News

ETH Weekly Forecast Shows That There Is A Hold Of Uptrend Support

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In the Ethereum today's news and updates, we can see that Ethereum managed to decline below the $188 and $186 support levels against the US dollar recently. The price is still trading above the key $180 and $178 support levels - and there is a crucial bullish trend line forming with support near $180 on the 4-hour chart of the ETH/USD pair. The ETH weekly forecast shows that the pair could start a fresh increase as long as there is no daily close below the $178 support line.Over the past week, Ethereum's ETH token started a slow and steady decline from over $190 against the US dollar. More importantly, ETH traded below the key $188 support and moved into a short term bearish zone. There was also a break below the $186 support area and the price spiked below the $182 support and the 100 simple moving average.The bears were later active in the crypto news and failed to gain strength below $180. As a result, Ethereum recovered above the $182 region and its 100 simple moving average. It traded above the 23.6% Fib retracement level too, from the $194 swing high to a $180 low.Now, the ETH weekly forecast suggests that the price is consolidating above the $182 level and the 100 SMA. An immediate resistance is near the $188 area too, which acts as the previous support. Therefore, an upside break above $188 could push the price further higher - and the next resistance is set at the $184 area.Any further upsides may perhaps set the pace for a break above the $200 barrier and a new run for Ethereum (ETH). On the downside, we can see al ot of supports near the $180 and $178 levels. Furthermore, we can analyse the bullish trend line forming with support near $180 on the same chart. As analysts predict, only a daily close below $178 could start another downward move towards the $160 level.The charts indicate that Ethereum is clearly holding a couple of important uptrend supports near the $178 level. There are also chances of a fresh increase above the $185 and $188 levels - unless there is a clear break below $178.The technical indicators in the ETH weekly forecast are as following:
  • 4 hours MACD – The MACD for ETH/USD is possibly prepared for the bullish zone
  • 4 hours RSI – The RSI for ETH/USD is right now still below the 50 level, with a couple of bullish
  • Major Support Level – $178
  • Major Resistance Level – $188
 
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Ethereum News

Ethereum Is Still Declining And Will Continue Lower In The Short-Term

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Ethereum is still declining and the price is trading below the $188 level against the US dollar so let’s take a closer look at the Ethereum latest news today.ETH is holding the $185 support area but there is also a risk of more downsides in the short-term. The major bullish trend line this week was broken with support near the $189 on the hourly charts of ETH/USD pair. On the other hand, Bitcoin is struggling to hold the $9,200 support and it could even drop lower.The price of ETH is facing a huge increase in selling pressure versus the US dollar quite similarly to Bitcoin and the price is still at risk of breaking below $185 and $184. After the short upward movement above $190, Ethereum is still struggling ever since, to climb higher against the US dollar. As a result, ETH started a downward movement and broke past the $190 support area. Also, there was a break below the $188 support area and the $100 hourly simple moving average and this week’s major bullish trend line was breached with the support near the $189 on the hourly charts of ETH/USD.The price is trading near the $185 area now with a few bearish signs and it is trading above the 23.6 Fib retracement level of the recent decline from the $195 high to $185 low. The immediate resistance level is close to the $188 level and there is also a connecting bearish trend line that is forming with resistance near the $188 level on the same charts. If there is an upside break above the trend line, Ethereum could even test the $190 resistance area again.The 50 percent Fib retracement level of the recent decline from the $195 high to $185 swing low is also very close to the $190 level. Therefore, the successful break above the $188 and $190 resistance levels is a must for a fresh increase in the near term. On the downside, the immediate support is near the $185 level and if there is a bearish break and close below this area, the price could speed up the decline below the $184 level. The next key support is close to the $180 level so we are watching closely on the price in the upcoming news and analysis.
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