It will be rather interesting to see what the future brings for all cryptocurrencies as of right now. While most of the top currencies are still in the green, there is some concern over the momentum running out sooner rather than later. So far, it seems the EOS price will continue to struggle a bit, despite solid gains over the past week. Can the EOS Price Recover Soon? As is always the case when any cryptocurrency gains a lot of value in quick succession, there’s a very good chance the momentum will reverse course. In the case of the EOS price, the gains from last week and earlier this week cannot be held onto for that long. After hitting $22.66, the EOS price has dropped quite a bit in quick succession. While a drop from $22.6 to $17..19 isn’t necessarily spectacular, it does show a lot of those quick gains are being eradicated as of right now. This is not because of the Bitcoin price faltering by any means, as it is just the EOS price going down pretty quickly. Last night, there was another 3.74% decline, but that isn’t the most worrisome aspect as of right now. More specifically, the EOS price decline is mainly fueled by a loss against both Bitcoin and Ethereum. Although the loss against Bitcoin was “just’ 8.34%, the drop against Ethereum was a lot steeper at 11.34%. Keeping all of this information in mind, it is only normal the EOS price is dealing with some setbacks as of right now. It’s possible this momentum will remain in place for some time to come, especially if both Bitcoin and Ethereum continue to rise in value. One thing working in favor of EOS is how the trading volume is still in place. Although it is slightly down compared to previous days, generating nearly $2bn in 24-hour trades is nothing to sneeze at either. Even so, the slight decline in trading volume, and the losses over both Bitcoin and Ethereum may push the EOS price down to $16 or potentially lower in the next few hours. With OKEx leading the trading volume right now, an interesting situation ensues. Its lead over Huobi and Bithumb is not that big, but it is still there. Upbit and Bitfinex complete the top five, confirming there are three fiat currency pairs on this short list. If money keeps pouring into cryptocurrency at this rate, there is not much to worry about. Even so, it seems EOS is not the default choice for investors and speculators as of right now. Whether or not the EOS price can remain above $17 for the remainder of the day is very difficult to answer. With things not looking too great right now, it only takes a small bit of panic selling to trigger another big retrace. At the same time, the losses are so small it won’t take much effort to push the price up either. A very interesting market to keep an eye on.
The ability of the distributed ledger to globally disrupt the existing operating procedures of various branches of the economy is no longer a secret for anybody. One of the most promising fields where the use of the blockchain technology will radically reshape the existing market is the cloud storage. According to Mitch Steves, the development of blockchain technologies would lead to the emergence of the ‘global decentralised computer’, a set of tools and technologies allowing to make the Internet a more secure place. The analyst gave a special place to the industry of decentralised cloud repositories, emphasizing that thanks to the decentralisation and the use of cryptography and encryption, the information in such repositories is only available to its owners. “Your information is now secure, and without your private keys, it cannot be accessed. This is the first example of building a ‘World Computer’, as we could apply the same concept to a wide variety of decentralized applications (Dapps)”. New projects started to emerge in the market, proposing to move the data storing from a ‘cloud’ controlled by one company to a decentralised repository consisting of many host nodes. STORJ Currently, the largest data storing network belongs to the Storj projects, one of the pioneers of the field. The Storj network, created in 2014, was launched in beta version in summer 2016. At first, it used the bitcoin blockchain but in the spring 2017, because of bitcoin scalability uncertainty, Storj announced the transfer of the project to the Ethereum network. By the beginning of 2018, over 20,000 leaseholders and 19,000 storage providers from 200 countries of the world joined the network. More than 60 petabytes of information are stored in the system. The data storage pattern is following: within the Storj network, a file is encrypted, broken into blocks and distributed among 84 nodes. The leaseholders pay $0.015 for 1 gigabyte of stored data per month and $0.05 for one gigabyte of downloads per month. The payment may be made in both system tokens and fiat money. The price is fixed and set by the project developer. Though Storj has a reputation of a sustainable and safe project, many cryptoenthusiasts note a number of serious drawbacks of the system. The main objection: in its present shape, Storj can hardly be considered a truly decentralised project. Around 75% of all existing coins are controlled by the Storj Labs developer. Moreover, Storj Labs possesses metadata about the location of the users’ files. If the lab ceases to exist, all the files can get lost. The system has a single point of failure, rendering it less secure and not quite meeting the ‘decentralisedness’ criteria. SIA The Sia project is the main rival of Storj. By 2018, it gained recognition among the community as well: the system includes around 1,000 hosts offering more than 3.3 petabytes of space. However, the offer largely exceeds the demand: only 400 terabytes are used. Unlike Storj, first based on the bitcoin blockchain and later transferred to the Ethereum network, Sia works to create its own blockchain. The platform tokens are obtained by standard mining, both with videocards and with ASIC miners provided by the Chinese manufacturer Bitmain. When the files are uploaded to the storage, they are broken into 34 blocks, encrypted and distributed among the network. When speaking of Sia’s advantages, they often mention its closer conformity to the ‘decentralised system’ characteristics: the tokens are evenly distributed among the network participants, there are no large nodes capable of carrying out the 51% attack, the storage providers are paid automatically and the files download does not in any way depend on the platform developers. Even if Nebulous, the company that created Sia, stops working on the project, the network would survive and the files would not get lost. Besides, the file storing is cheaper in Sia than in Storj: $0.002 for 1 gigabyte of stored data per month and $0.001 for 1 gigabyte of bandwidth. Moreover, there is market mechanism that defines the price based on supply and demand. However, there are also shortcomings that the crypto community participants often speak about: while the economic pattern of Sia suggests restraining the issuance of new coins by the growth of the network difficulty, the token emission is not limited. In theory, such an approach would not allow the coin price downfall but no one can predict how the situation would develop in practice. Another shortcoming is the speed: the Sia blockchain is slower than the one used by Storj. Casper API Both Sia and Storj are largely dependent on one blockchain, whether its own (in the case of Sia) or chosen for the development of the service (Ethereum in the case of Storj). The project Casper API developed a radically different approach towards creating a system of decentralised cloud repositories. The creators of the new system of storage decided, instead of attaching themselves to one blockchain, to create a solution that can be developed on any blockchain, be it Ethereum or its possible future competitors such as NEO, Qtum, and Lisk. It is a great advantage in the case of a nascent industry without an obvious leader. Such approach will also benefit the leaseholders: one and the same provider will be able to receive storage commands from applications based on different blockchains, enlarging the circle of users. Another feature of Casper API is the choice of target audience: the solution is targeted at decentralised applications (DApps) that at present cannot really be called decentralised because of lack of decentralised storage. The data storing inside the blockchain is too expensive and the data transfer to the centralised cloud repositories controlled by market leaders (Amazon, Google etc.) endangers the centralised character of the applications and is less resistant to various vulnerabilities and attacks. The data distribution in Casper API is made in the following way: the file is sharded into blocks, encrypted and distributed among the nodes. Every block has four replicas. If one of the hosts stops meeting the conditions of the system (speed of less than 5 megabits per second and staying online less than 95% of the time), the smart contract replicates the information to another host. Similar to other projects, Casper API would use its own token, CST, as its internal currency. The emission of tokens is limited at 440 millions, helping to curb the potential threat of inflation. MAIDSAFE MaidSafe is one more project targeted at providing cloud storage for DApps. The first transaction in the SAFE (Secure Access For Everyone) network was carried out in 2014 but so far the developers have only launched a second alpha version of the network. MaidSafe is not just a decentralised data repository but also a network that allows to store and exchange information and to build decentralised applications. The project presents itself as the new safe Internet and “the World’s First Autonomous Data Network.” With MaidSafe, the providers not only lease their free hard disk storage space but also the processing powers. The MaidSafe would serve as a base for social networks, financial applications, e-mail, blogs, storage of medical records and chats. However, as the network only exists in a test regime, there is a risk of data loss when it is restarted. The SAFE network is based on the bitcoin blockchain but in the future the developers plan to transport it to their own blockchain. The shortcomings of the project, often described by its followers, are caused by its plans which are probably unduly ambitious: the project is developing slowly, and some of its functions are difficult to understand for the newcomers to the field. Despite the abundance of projects that at first may look similar, it should be noticed that some of them are do not compete with other projects but rather supplement the nascent range of projects with different target audiences. In this vein, while Storj and SIA are more oriented towards work with private persons and companies, Casper API and MaidSafe aim to provide the DApps with a secure and a decentralised means of data storage. That being said, Casper API stakes on a more flexible approach, enabling to deploy the solution on the blockchains of different systems instead of attaching it to a single blockchain. The post Decentralised Repositories: Rivalry or Synergy? appeared first on NewsBTC.
Now that Goldman Sachs has flipped on cryptocurrency and opened the first trading desk by a wall street bank, limited as it may be, the next piece of the puzzle to solve is custody, says Spence Bogart. Goldman’s Desk Will Not Open the Flood Gates The hype this week surrounding Goldman’s move into cryptocurrency has been overwhelming. The venerable Wall Street institution has taken the first tentative steps towards bringing institutional investors and Bitcoin together through a futures product they are calling a non-deliverable forward. The firm will be using its own money to buy the Bitcoin futures on behalf of their clients. Dealing with Bitcoin futures allows Goldman to trade on the underlying Bitcoin Cryptocurrency without being directly exposed to what the bank sees as the volatility of the cryptocurrency market. Futures contracts are a way of buying and selling an asset at a fixed price at a specific predetermined date. Justin Schmidt who Goldman Sachs brought on board as their first digital asset trader and to head the Bitcoin futures desk told the New York Times that he and his team look forward to eventually trading actual Bitcoin once “Goldman can secure regulatory approval and mitigate the risks associated with holding cryptocurrency.” According to Blockchain Capital partner Spencer Bogart, the next step to putting institutional money into Bitcoin is solving the problem of custody. Bogart who appeared on CNBC’s Fast Money to talk about Goldman’s move said, “Absolutely, it’s definitely a big step. I don’t think it’s a perfect solution that opens up the institutional floodgates for Bitcoin … I expect other banks to follow as well.” Crypto Bull Bogart Calls Custody The Next Issue to Solve He told host Melissa Lee that sequentially we saw the futures contracts come about, now a big bank opening a desk and that he would expect other large banks to follow because the market is so large institutions can’t afford to ignore them anymore. Bogart continued to say the next hurdle is custody. In his opinion for the major institutions to get into trading actual cryptocurrency, the risks that are inherent today in dealing with the underlying technology have to be solved. Bogart said that since the issue came to the forefront in 2017 a dozen credible companies are going after a solution including Coinbase. When asked for his prediction for the future of Bitcoin in terms of the custody issue Bogart talked about new buyers using apps like Robinhood and Square as well as major exchanges like Coinbase. The post Crypto Investor Says Goldman Sachs Entering Bitcoin Market is Overhyped appeared first on NewsBTC.
Key Highlights Ripple price struggled to move above the $0.8900 and $0.9000 resistance levels and moved down against the US dollar. There is a major ascending channel forming with support at $0.8600 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair must stay above the $0.8600 support level to avoid further downsides in the near term. Ripple price is correcting lower against the US Dollar and Bitcoin. XRP/USD should stay above the $0.8600 to stay in a positive zone for more gains. Ripple Price Trend There was a push above the $0.8800 level in Ripple price against the US Dollar. The price gained traction and traded towards the $0.9000 level. However, sellers were able to defend the $0.8900 and $0.9000 levels. A short-term high was formed at $0.8900 before the price started a downside correction. It moved down and traded below the 23.6% Fib retracement level of the last wave from the $0.7815 low to $0.8900 high. However, there is a crucial support waiting on the downside near the $0.8600 level. There is also a major ascending channel forming with support at $0.8600 on the hourly chart of the XRP/USD pair. If the pair fails to hold the channel support, it could decline further towards the $0.8400 level. Moreover, the 100 hourly simple moving average may perhaps act as a support near $0.8450. Finally, the last important support is near the 50% Fib retracement level of the last wave from the $0.7815 low to $0.8900 high at $0.8360. Looking at the chart, the pair is struggling to hold the channel support at $0.8600-0.8620. Therefore, there is a risk of an extended correction towards $0.8400. On the flip side, a break above the $0.8800 and $0.8900 levels may eliminate the bearish pressure. Looking at the technical indicators: Hourly MACD – The MACD for XRP/USD is now in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD has moved below the 50 level. Major Support Level – $0.8600 Major Resistance Level – $0.8900 The post Ripple Price Technical Analysis – XRP/USD Could Correct Lower appeared first on NewsBTC.
FOMO Moments As we end the week crypto markets are still looking bullish and most coins are on the way up. Total market capitalization is now over $450 billion and Bitcoin has made more gains overnight. Currently trading at $9,600 BTC is up 3.8% on the day and is approaching key resistance near the $10k level. Altcoins are a mixed bunch during Asian trading, some are performing well while others have retracted a little from weekly highs. The coin out in front at the moment is Nano. According to Coinmarketcap Nano is trading 21% higher on the day. It is the only altcoin in the top 25 with double digit gains at the moment. Currently trading at $10.2 Nano has made gains from $8.45 where it was this time yesterday. Over the week this altcoin has made gains of 40% from $7.28 this time last Friday. Nano has been a solid performer over the past month almost doubling in price from $5.2 this time last month. Against Bitcoin Nano has made a 16% gain on the day to 105500 satoshis from 91000 sats this time yesterday. Weekly gains on BTC have been an impressive 33% from 79000 satoshis this time last week. The rebranded RaiBlocks has had a rough ride with the BitGrail saga but seems to have shaken off any doubts and has recovered well. A Binance giveaway of 15,000 tokens has boosted Nano over the past 24 hours and prizes for Nano traders on the exchange have been an incentive to load up; #NANO Competition – 15,000 $NANO To Giveawayhttps://t.co/FfWxqn0RX8 pic.twitter.com/3w22IGQm0R — Binance (@binance) May 3, 2018 Unsurprisingly Binance leads the way with Nano trade taking almost 95% of the total volume. That trade volume has jumped from around $24 million to over $125 million in 24 hours and continues to climb at the time of writing. Nano has found its way back into the top 25 and currently sits at 23rd with a $1.35 billion market cap. Total crypto market capitalization has climbed again today by 2.7% to $452 billion. Trade volume has also climbed from $23 billion this time yesterday to $31 billion at the moment. Other altcoins with strong gains during the morning’s Asian trading session include Ethereum, Iota, and Bytecoin. More on Nano can be found here: https://nano.org/en FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and possible fundamentals. The post Asian Cryptocurrency Trading Update: Nano Lifted on Binance Giveaway appeared first on NewsBTC.
Key Highlights ETH price jumped higher sharply and moved above the $780 resistance level against the US Dollar. There is an ascending channel forming with support at $760 on the hourly chart of ETH/USD (data feed via Kraken). The pair remains in a solid uptrend, and any downsides are likely to find support around $756 and $746. Ethereum price surged higher against the US Dollar and Bitcoin. ETH/USD moved above the $780 level and it looks set to extend gains in the near term. Ethereum Price Support There was a solid increase in buying interest as ETH price moved above the $750 resistance level against the US Dollar. Yesterday, we discussed that the price could move above the $725 level. It not only broke the $725 level, but moved higher by more than $50. During the upside, it broke the $765 and $780 resistance levels, and traded as high as $789.17. At the moment, the price is correcting lower from $789.17, but remains well supported. ETH price recently traded below the 23.6% Fib retracement level of the last wave from the $714 low to $789 high. However, there are many supports on the downside around the $755 level. More importantly, there is an ascending channel forming with support at $760 on the hourly chart of ETH/USD. Below the channel support, the 38.2% Fib retracement level of the last wave from the $714 low to $789 high may perhaps act as a support around $756. Below the stated $756 support, the price could test the next fib support level at $746. Looking at the chart, any further declines below $746 could be limited. On the upside, the price is facing a tiny resistance around the $788-790 levels. However, the main hurdle for buyers is close to the $800 level. Hourly MACD – The MACD is placed nicely in the bullish zone. Hourly RSI – The RSI is currently correcting lower from the 70 level. Major Support Level – $756 Major Resistance Level – $790 The post Ethereum Price Technical Analysis – ETH/USD Skyrockets above $780 appeared first on NewsBTC.
Bitcoin Price Key Highlights Bitcoin price appears to be gaining traction on its climb as it approaches a key resistance. A break past the $10,000 barrier could complete the creation of a double bottom reversal pattern. Rallying past the neckline of the formation could lead to an uptrend of the same height. Bitcoin price is forming a double bottom on its daily time frame to signal that a longer-term uptrend is due. Technical Indicators Signals The 100 SMA is below the longer-term 200 SMA to signal that the path of least resistance is to the downside. This means that the selloff could still resume from here, possibly leading to another test of the bottoms at $6,000. The 100 SMA appears to be holding as dynamic support, though, and a move past the 200 SMA dynamic inflection point could draw more buyers in. Stochastic looks ready to turn lower from the overbought region to signal a pickup in selling pressure as well. But if buyers stay in control, a mov past the $12,000 area of interest and neckline could lead to a climb of around $6,000 or a rally up to the record highs. Market Factors Developments in the industry have been mostly positive, especially after Goldman Sachs announced plans to start a bitcoin trading operation. Execs also noted that bitcoin is not a fraud, contrary to CEO Blankfein’s statement on how it is in a bubble earlier on. Apart from that, South Korea’s lawmakers are working on a bill to legalize ICO launches, also helping to add legitimacy to the industry. Japan has already created its regulatory body for ICOs, which means that the top markets for bitcoin are making good progress. Dollar demand is also sinking leading up to the release of the NFP report as traders are wary that weak results could reinforce the less hawkish stance shared by the FOMC in their latest statement. Weaker than expected data could lead to even more dollar selling and bitcoin price could take advantage. The post Bitcoin Price Technical Analysis for 05/04/2018 – Long-Term Double Bottom appeared first on NewsBTC.
On Tuesday, a director of a leading think tank stood before the British Parliament’s Treasury Select Committee and called out blockchain technology as “magic wand, pixie-dust things” that is a “fad” and “a distraction from looking at getting some of the basics rights” in the banking industry. Martin Walker, the director for the non-profit Center for The post ‘Pixie Dust’: Anti-Crypto ‘Expert’ Tells British Govt. Blockchain Is Just a Fad appeared first on CCN
Since Oracle is the only way for smart contracts to interact with data outside of the Blockchain environment, it performs core functions and plays an indispensable role in cryptocurrency and Blockchain industry. Generally speaking, Oracle is a third-party agent that finds and verifies real-world occurrences and submits this information to a blockchain to be used by smart contracts.The Oracle might be considered as a data feed specially designed for use in smart contracts. It provides the necessary data to trigger smart contracts to execute when the original terms of the contract are met. These conditions could be anything associated with the smart contract – temperature, payment completion, price changes, etc. Technological revolution and Blockchain There are no doubts, that we are now standing on the threshold of big changes. The blockchain is considered to be the main driver of them. The implementation of distributed ledger technology will bring us closer to creation of such things as Internet of Things, Web 3.0, Decentralized applications and organizations and new business models and solutions. All these changes will definitely revolutionize our vision of modern businesses, internet and technologies. The blockchain is developing at exponential paces covering more and more companies, countries and business spheres all over the world. Thus, for example, according to IBM report, 15% of banks worldwide expect to widely implement Blockchain within this year. In addition, IBM says that in four years 66% percent of banks expect to have Blockchain in commercial production and at scale. There are also another arguments in favor of blockchain revolution. For instance, the smart-contracts market is skyrocketed in recent years with the grow in number of contacts from 123.000 in 2016 to 5.400.000 in 2018. And this is only the beginning…. The problems that businesses face when moving into blockchain However, the implementation of blockchain is not as easy as it might seem. First of all, businesses simply can not integrate their existing data with the blockchain. They also like Decentralized applications (dApp) need an interface to communicate with real-world data. The reason for this is that there is a fundamental difference of formats. In order to solve this issue, different types of Oracles appeared. With the help of Oracles, smart contracts receive real-world applications in virtually every field available. Once data hits the Blockchain, the information can be used to execute the contracts and provide use cases, which can disrupt industries across the board. The main issues that businesses face during blockchain implementations are:⧫ Deficiency of specialists and ready-made solutions for blockchain implementation – makes the process of blockchain developments extremely costly and strongly inhibit the blockchain wider implementation.⧫ Lack of standardized blockchain solutions for cooperation and interaction between businesses – makes it impossible to build a system of ratings and interactions between different oracles or data sources on a global scale. ⧫ Absence of a mechanism for resolving disputes – undermine the democratized trust created by blockchain technology and hinder its broadening evolution and applicability. DUCATUR – Common solution for all Oracle’s problems The DUCATUR has all opportunities to become a universal solution for future blockchain implementation and help a lot of businesses to step into a new technological era. We provide the first Multi Chain Oracle framework that will become a universal instrument for blockchain implementation for companies and organizations. The DUCATUR network provides highly standardized ready-made solutions for companies and realizes it’s own disputes resolving mechanizm named decentralized court that will monitor the operation. Here in DUCATUR, we are highly concerned about the current market situation and therefore – we would like to make the access for companies to blockchain easier by creating a universal framework with blockchain solutions that can be simply implemented by any company. Website: https://ducatur.com/?utm_source=http%3A%2F%2Fthemerkle.com&utm_medium=Press%20release One pager: https://ducatur.com/static/ducatur-onepager.pdf?utm_source=http%3A%2F%2Fthemerkle.com&utm_medium=Press%20release WhitePaper: https://ducatur.com/static/ducatur-whitepaper.pdf?utm_source=http%3A%2F%2Fthemerkle.com&utm_medium=Press%20release This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.
May 3, 2018, Palo Alto, California – Propy, the global real estate marketplace with a decentralized title registry, continues to revolutionize the real estate industry. Shortly after being listed on two of the top exchanges, Bittrex and Upbit, the company released a new technology-focused roadmap for 2018. Propy was founded in 2016 by CEO Natalia Karayaneva, a real estate developer with a background In software engineering, After a successful token sale, the blockchain start-up completed the first transaction on their smart contracts, in October 2017. Since then, Propy has delivered new app releases and deployed blockchain registry pilots in Ukraine, Vermont, USA and a first historical deal in California is expected soon. The project is being developed by a team of researchers and engineers from Apple, Facebook, Linkedin, and Intuit, along with Silicon Valley realtors. In a recent blog post Propy details the 2018 roadmap and how it plans to solve some of the main challenges in the international real estate. Alex Voloshyn, CTO of Propy, envisions a thriving year for Propy: ”We have ambitious goals for 2018 and the engineering team is excited to work on the groundbreaking technologies for the Transaction Platform and Propy Registry. In particular, partially-private consortium blockchain with automatic anchoring to the public Ethereum, integration of our IPFS fork for documents storage, and the on-chain privacy solution. These goals are aggressive, but we have out-performed our deadlines in the past and we will work tirelessly to do it again!” To develop the platform into an efficient one-stop real estate shop, Propy will integrate a crypto and fiat currency exchange. Furthermore, a Blockchain-based explorer will allow to monitor the public ledger data, and verify transactions. Propy invites the community to contribute to the future decisions and share their ideas by joining the Telegram channel: https://t.me/propy. About Propy Propy is a global real estate marketplace with a decentralized title registry. Propy aims to solve the problems facing international real estate transactions by creating a novel unified property payment solution and asset transfer platform on the blockchain. Press Contact: Market Waves Contact email: [email protected] This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.