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Ethereum News

Six Changes Approved For The Next Ethereum Hard Fork

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Six Changes

The latest cryptocurrency news show that the Ethereum core developers finalized six changes that would be activated in Ethereum’s next system wide upgrade named Istanbul. The code changes were agreed in the prior meetings – and Istanbul was shown to be executed in two parts.

The first part will feature all six changes in the code – known as Ethereum improvement proposals (EIPs) – and is tentatively expected to execute on the ETH mainnet this October. The second one, which is scheduled for mainnet activation at some point in the first quarter of next year, will feature the EIPs that require further testing and deliberation from the core developers. These ones will include a proposed mining algorithm change called “ProgPoW.”

When announcing the two part structure of the Istanbul upgrade, the core developer Peter Szilagyi said the following on the Thursday call:

“We split Istanbul into two. One of them we can actually ship within weeks. [The other contains] two really big EIPs that would be nice to have but require some stuff that cannot be done within the two- or three-week timespan.”

As many altcoin news sites shared, Istanbul Part 1 will be the eighth hard fork to be activated on the $22 billion blockchain network. As such, it is expected to boost the chain interoperability with the privacy coin Zcash and with that help secure the broader network against any replay attacks, among other efficiency improvements.

Developers behind major Ethereum clients such as Geth and Parity have one week to integrate the six changes, integrating the newly affirmed list of EIPs into their software as well as preparing to implement the full code on a live Ethereum network.

The Ethereum Foundation community manager Hudson Jameson spoke about the importance of the testnet release and the six changes in the code. He was featured on many best cryptocurrency news sites for stating:

“The security and stability of the network are primary concerns when it comes to doing hard fork on mainnet so the testnet release is a vital step in making sure that mainnet release go smoothly.”

The release summed up that the core developers are excited to get the Ropsten testnet hard fork – and that everything will be working correctly.

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Ethereum News

ETH Looks Bullish As Its Uptrend Continues

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ETH Looks Bullish
The coming altcoin news today focus on the largest altcoin out there - Ethereum (ETH) which is in the focus over the past week for surging and incurring significant upwards momentum. As it stands, ETH looks bullish after it was able to sustain its upwards momentum despite the drop in the aggregated crypto markets which occurred over the past 24 hours. The upwards momentum has allowed Ether to surge to fresh monthly highs and analysts are noting that ETH may be able to drag the entire crypto markets up during the next days and weeks. At the time of writing, Ethereum is trading by more than 4% at its current price of $222.87 which marks a significant surge from its recent lows of $175 that were set last week. The upwards momentum has proven to be very positive for the aggregated crypto market and come as most other major altcoins are surging higher. As for what could be driving the upwards surge, a lot of analysts on many best cryptocurrency news sites have pointed to improving fundamentals as one potential catalyst for the fact that ETH looks bullish. Other analysts noted that multiple metrics may be pointing to the possibility that ETH is currently being accumulated by investors.
“There’s also a number of metrics suggesting accumulation: 1. Token Circulation (# of unique ETH being used each day) continues to decline over the past 5 months… 2. Ethereum’s maximal mean age (avg. age that each coin has remained in its current address) continues to rise… 3. # of active coins over a period of 90 days has begun to decline as of recently,” they explained in the thread shown below. https://twitter.com/santimentfeed/status/1174341686891339776
The big question is whether the altcoin can make most of the fact that ETH looks bullish. The altcoin news also show Big Cheds, a popular crypto analyst, who recently turned to Twitter and spoke about Ethereum, explaining its latest upwards movement and how it marks a notable breakout over its upper Bollinger Band, which may mean that further gains are imminent. https://twitter.com/BigCheds/status/1174733514379595776 Anyways, the coming hours may be crucial for the price of Ether. While ETH looks bullish, Bitcoin's price action may also be a crucial factor that will bolster ETH's current stage and allow it to post significantly higher gains.
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Ethereum News

BitPay Now Lets Merchants Accept Ether (ETH) Cryptocurrency

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bitpay now lets
The payment solution BitPay will soon start accepting Ethereum, which is the second largest cryptocurrency by market capitalization. As the latest cryptocurrency news show, BitPay now lets merchants accept Ether (ETH) after an announcement from the company which went live yesterday. With BitPay, the subscribing businesses will be able to pay in Bitcoin (BTC), Bitcoin Cash (BCH) and Ether (ETH) along with a handful of other stablecoins. For those of you who were not following our Bitcoin and altcoin news before, BitPay launched in 2011 as a solution which settles both fiat and crypto payments in more than 200 countries. The co-founder and creator of Ethereum found out that BitPay now lets merchants accept ETH and decided to make a statement. Vitalik Buterin, known for his wisdom and continuous development of Ethereum, said that it was exciting to see BitPay “leading the way in integrating ethereum into global payment systems.”
“This truly opens up a new world of possibilities for the Ethereum ecosystem, and together we can continue to be a leading innovator for real-world use cases for cryptocurrencies,” Buterin added.
The company said that it often reviews potential cryptocurrencies for addition. As many best cryptocurrency news sites reported:
“BitPay regularly evaluates blockchains and cryptocurrencies to support the company’s goals of making it easy to send and receive payments for goods and services globally. We selected ethereum as it has broad support for real-world applications and is widely adopted.”
The news that BitPay now lets merchants accept ETH spread like wildfire on many news sites. The CEO of BitPay Stephen Pair was also in the coming altcoin news. As he stated, Ethereum was the next logical choice due to its current market base.
“As one of the largest cryptocurrencies by market cap and one used by thousands of companies, Ethereum is the next logical choice,” he concluded.
Last week, the Hong Kong Free Press (HKFP) claimed that BitPay was holding up the Bitcoin donations to the organization. As a non-profit news organization, the HKPF has been covering the civil unrest in the Chinese city. However, we still await an official response from BitPay concerning these allegations. All in all, the news that BitPay now lets merchants accept ETH is good for both the payment solution and the cryptocurrency, both of which are continuously evolving.
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Ethereum News

Ethereum’s Network Demand Is High Without Transferring ETH Tokens

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ethereum's network demand
Ethereum’s network demand is increasing over the past few days but now it seems that it comes more than just transferring ETH tokens. Let’s find out more in the coming altcoin news below. A large part of Ethereum’s network demand is due to the activity of smart contracts. The most active smart contract on the ethereum network since September 15th this year is one of the growing ETH Ponzi scheme. This contract took the lead over the past few days as the social media users noted. The scheme is gathering traction and more users are now sending in ETH for a short opportunity window in hope to get high returns. The Ponzi scheme contract burned more than 27 percent of all gas just a day ago. The second-largest smart contract ‘’Tether USD’’ issues and transfers USDT coins on the Ethereum network and reached a supply of 1.9 billion USDT. The Tether contract usually burns up to 30 percent of all gas on the Ethereum network and takes up more computational power than the most active distributed apps. The usage rate of more than 30 percent is extremely rare and usually means that the network could be overloaded with huge transaction prices. Over the past month, the fees to send some ETH tokens or to use the Ethereum network kept increasing and reached an average of $0.27. The price is still low but the Tether smart contract means that some of the users will have to wait for their transactions to be included in the block. Ethereum’s network strength is also very weak. The Ethereum Virtual Machine is a distributed computer which works on the open market principle so that anyone can pay for the computation can use the network. Ethereum is censorship-free which means that ETH-based entities can pay for the gas. So when a Ponzi scheme happens, the constant inflows of ETH mean the project has no issues and paying for the fast computation. The presence of the smart contracts also hampers the work of the smaller dapps and makes it hard for the developers to launch their projects. As per the latest cryptocurrency news, ETH is trading at $194 and is on track to reach the $200 level.
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Ethereum News

Ethereum Price Flashing: Can ETH Surge To A New Yearly High?

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Ethereum Price
The price of Ethereum is featured in our coming altcoin news. Over the past two weeks, Ether (ETH) has been a frequent topic of discussion. In the past day or two, the Ethereum price flashing green was another topic for analysts - all wondering if the altcoin has finished its retrace from a 2019 high at $364 or it has potential to rise even more. This week, Ether settled at $170. Currently, the latest cryptocurrency news and updates feature the Ethereum price flashing at around $189 which marks a significant increase. On the day, ETH managed to add around 4% to its rise, proving that a bullish momentum may finally be building up. Even though the news are not as exciting as they sound and not as convincing for a new bull run or a trend reversal, it is true that Ethereum can trigger many altcoins to grow now. In fact, the past 24 hours volume indicates that ETH has already pulled a lot of coins upwards. If Ether bottoms and reverses its course, however, the altcoins will also follow its trend. Traders will now remember that starting from December 2018, Ether and Litecoin kickstarted a great year and initiated a rally which was dubbed as the "altseason" in the news. This is where all the excitement of the Ethereum price flashing went and why everyone is seeing behind the significant rise and to a potential rally. The daily chart also shows that ETH managed to pop above its descending wedge after a double bottom with $167.50 support. On a large scale, it is clear that Ether is attempting to reverse the trend and a move above $196 is now set to be crucial for a new high. When it comes to the purchasing volume, many best cryptocurrency news sites report that it is less than fantastic. Also, it is something that traders should keep an eye on. Some analysts are even attributing Ether's rise to the network's demand skyrocketing over the past month. The weekly Moving Average Convergence Divergence (MACD) histogram also shows positive momentum during the Ethereum price flashing scenario - but the MACD has yet to pull above the signal line.
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