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Ethereum News

The Identity Of Syrian Refugees Is Being Restored By An Ethereum Blockchain

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We all know that the blockchain technology is more than units on a computer. In many ways, it is designed to help and create a massive social impact with its use cases and different scenarios. One of them has been uncovered lately, just in time when Syria has gotten the world’s attention for the chemical attack on their citizens over the past few years.

The situation in Syria has been devastating for long now, with many refugees running away from the country and seeking asylum in the West. Another problem are the refugees themselves – which are fleeing everywhere and cannot be properly tracked or monitored.

Thanks to a new cutting-edge blockchain technology, this is going to change. In other words, every refugee will be able to keep their data private. The application has been developed by the UN’s World Food Programme (WFP) as well as other industry partners.

The benefits of this project are endless, both in the social and economic aspect. The impact of it, on the other hand, could shape the lives of many new generations to come. Even if we see it from a humanitarian perspective, the lives of the Syrian refugees have been completely changed and everyone deserves a chance to rebuild them.

In the midst of the crisis, this project can help the refugees re-connect with technology and rebuild their lives. They could transact from a single digital wallet comprised of a record of their purchase history, identification and “access to financial accounts” (which they don’t have nowadays).

This will likely improve a lot of things. The architect behind the program, Houman Haddad, is confident in this and hopes to see the Syrian refugees being able to transact from a single digital wallet with a proper blockchain-fueled ID system.

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Ethereum News

ConsenSys Begins Using Ethereum, Supplying Electricity To Texas Residents

The blockchain startup Grid+, which is operated by ConsenSys, is in the headlines in our crypto news section for the official supply of electricity to its clients in Texas using the Ethereum solution. The announcement, posted by the startup, went viral on Twitter.https://twitter.com/gridplus_energy/status/1043145190322696192As the startup outlined, the use of a unique hardware gateway system and a blockchain solution will allow Grid+ to distribute renewable electricity such as solar and wind energy to consumers in Texas, and later throughout the US on the Ethereum mainnet.As the co-creator of Ethereum Joseph Lubin recently stated:
“Groundbreaking milestone. The tireless Grid+ team has begun supplying power to their first four customers.”
Meanwhile, Grid+ uses a specific hardware and software stack in order to process payments for electricity in real-time, allowing its customers to programmatically buy and sell electricity through a function known as 'Smart Agents'.For large scale agents, a significant amount of electricity can be produced on a daily basis within a short period of time. More importantly, these clients can purchase and use energy that they need without acquiring an abundant supply of it.
“Through this experience, ConsenSys identified the opportunity to form Grid+, which will build natively Ethereum-based utilities in deregulated markets. Grid+ will demonstrate production ready blockchain-based energy solutions at scale in competitive commercial environments in order to enable the transactive grid of the future and prove the advantages of Ethereum over incumbent technologies,” the Grid+ and ConsenSys team said.
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Ethereum News

Ethereum Can Scale To 500tx/s With Zcash’s Technology: Vitalik Buterin

The co-founder of Ethereum, Vitalik Buterin, is in the latest news surrounding the cryptocurrency. More specifically, Buterin revealed his plans to scale the Ethereum network and with that accommodate a nearly 3,200% increase in the transactions without the use of second-layer technologies such as Plasma.Buterin wrote a post on an ETH research forum which was published on Saturday. In it, the co-founder of ETH said that the altcoin can borrow a technological innovation from the privacy-centric cryptocurrency Zcash to "mass-validate" ETH transactions.The technology is named ZK-SNARKS, allows relaying nodes to “verify the correctness of computations without having to execute them” or “learn what was executed,” according to the post published on the Ethereum Foundation blog.As Buterin wrote:
“There are two classes of user: (i) transactor, and (ii) relayer. A relayer takes a set of operations from transactors, and combines them all into a transaction and makes a ZK-SNARK to prove the validity, and publishes the ZK-SNARK and the transaction data in a highly compressed form to the blockchain. A relayer gets rewarded for this by transaction fees from transactors.”
According to Vitalik Buterin, the integration and adoption of the ZK-SNARKS technology could allow Ethereum to process a maximum of around 500 transactions per second, from the current 15. This is not only a 3,200% increase but also a massive improvement from Plasma and other second-layer scaling solutions that increase the network capacity. 
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Ethereum News

Several Ethereum Miners Prepare Initiative To Block Ethereum ASICs

In the latest Ethereum news which is centered around mining, a couple of Ethereum miners and developers have come up with a plan to stop the specialized mining hardware from effectively operating the network.Even though the plan is prepared since April, the initiative is in its peak activity right now - aiming to break the controversy surrounding application-specific integrated circuits (known as ASICs) on Ethereum - which rose after the news that a new line of specialized mining hardware is apparently claiming to generate more than six times as much profit as the one of its main competitor, the mining giant Bitmain.As soon as the news spread, many developers and miners began finding ways to stop the growing use of ASICs on the network. According to them, if these continue to be pushed on the market, the smaller miners would be dumped. That is why some proponents even called for an all-out "strike" by GPU miners.As one GitHub user named "Mdaria510" wrote:
"The only plausible way forward for GPU miners is to 'go on strike' and commit to continuing to mine the existing chain and undermine the unity of ethereum and force compromise."
Another user also supported the initiative and said that requests from the Ethereum mining community to implement ASIC-resistant measures have been "blatantly ignored" and promised to join the revolt with their hash power.Some Ethereum developers have stated that they are preparing a code change that is targeted at the growing number of ASICs - which could be implemented as part of a system-wide network upgrade.
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Altcoin News

Bitcoin (BTC) Price Moves Closer To $7,000, Stellar (XLM) With A New Meteoric Rise

In the Sunday edition of our cryptocurrency expert analysis right here on DC Forecasts, we are seeing a lot of green on the crypto market, which is perfect considering the negative movement last week.Today, the altcoin which is in the spotlight is Stellar (XLM), which skyrocketed by 25% and reached a price of $0.297, securing the fifth position on the largest cryptocurrencies by market cap.Bitcoin, on the other hand, has established a short-term bullish trend for its continuous, yet slow rise over the past few days. The biggest cryptocurrency by market cap is now trading at $6,757 with no signs of stopping the slow-yet-bullish momentum.Among other altcoins which surged over the past few days are Ethereum, Ripple, Bitcoin Cash, Litecoin and Cardano - all of which rising in terms of their value.From the $6,110 support area which was initiated last week, Bitcoin is now with around $700 in the green, trading higher and breaking new margins every new day. However, a change of this scenario is still realistic, considering the low market volatility over the past month. 
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