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Is Parity Vote Behind Ethereum’s (ETH) Northward Drive To $650?

The cryptocurrency market is moving northward this days, however, it is important to discuss what is behind the recent bullish run. Ethereum, the second altcoin by market capitalization is also witnessing the same. The altcoin has risen far above $600, and now switches a little below $640 as at the time of writing this article. According to observers, the surprising move could be linked to this weekend’s parity vote which ends tomorrow.

Dubbed as ‘the most fascinating vote in the history of cryptocurrency’ by analyst, the on-going vote has 7 days span. The reason behind the vote is whether the Parity’s 500,000 eth that was mistakenly frozen because of a noticed bug on Parity’s multi-sig should be returned or confiscated. Now 55.6% of Ethereum HODLers are in support of the restoration, while 44.4% do not want it restored. If the yes have it, there will be no choice than to return the fund to Parity.

The question at hand now is that does the ongoing Parity vote have effect on the price of Ethereum in the market or will it add to the value as time goes on.

It is worthy to note that the cryptocurrency space is currently witnessing a boom, it cannot be categorically stated that Ethereum is up in the sky because of the Parity vote. Considering the recent favourable news that Ethereum community have received, the increased value of Ethereum cannot be linked to Parity alone. Until the vote ends, and the fund is returned, it is hard to say that the massive hick in price is because of the vote. However, if the fund is returned, it shows that the users of Ethereum controls the future of the blockchain, and hence, may bring good name to Ethereum. This will translates to a market boom.

How Did The Freeze Happened?

Parity is an Ethereum software client. A code flaw in the software resulted in freezing of $160 million worth of Ether on Monday November 6th 2017. The freeze caused distress and anxiety to the community and affected around 500 eth wallet.

According to the team behind Parity, “a vulnerability in the “library” smart contract code, deployed as a shared component of all Parity multi-sig wallets deployed after July 20th 2017, was found by an anonymous user. The user decided to exploit this vulnerability and made himself the “owner” of the library contract.”

“The user destructed this component. Since Parity multi-signature wallets depend on this component, this action blocked funds in 587 wallets holding a total amount of 513,774.16 Ether as well as additional tokens. Subsequent to destroying the library component, someone (purportedly this same user) posted under the username of “devops199” issue #6995 that prompted our investigation into this matter.”

If the fund is returned, it is going to relieve the team behind Parity and give the Ethereum community a major boost, hopefully.

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TRON’s $1.7M Airdrop To Ethereum Community Is A Potential Killer

The launch of TRON testnet signals that TRX will soon leave the ERC20 network and move to its personally developed mainnet, which will provide dependable futures for users and developers. Not long after TRON revealed the launch, it stated that the mainnet will be fully deployed in May and that anything that has to do with TRON will move out of ERC20 network, a platform owned and managed by Ethereum.

Now, the TRON team has aired that it earmarked 30 Million TRX (equivalent to approx. USD$1.7M) airdrop to Ethereum community as an appreciation towards Ethereum for their “support during TRON’s ERC20 phase in addition to preparing for the Super Representative Elections after mainnet launch”.  While TRON is making all these moves, the cryptocurrency is as well revealing it will soon be a competitor to Ethereum, and will soon outsmart the platform by becoming a DApp platform. The revelations did not go down well with Ethereum, resulting in the CEO, Vitalik Buterin saying the project has no soul. There is a sense in accepting that one has competitors, there is also a sense in accepting that one’s competitors are not reliable. Maybe Vitalik has chosen to accept the later and move on.

It is a fact that TRON is now Ethereum’s competitor, and the platform is doing everything to become more acclaimed than Ethereum is. This is visible in Justin Sun, founder of TRON’s statements and body languages.

“From today to the last day, we are no longer the ERC20 token and in the future, we will compete with Ethereum as a DApp platform,” Sun had said during the launch of testnet.

“We will compete face to face with Ethereum, and we have confidence we will build a large ecosystem; a much large ecosystem than the Ethereum. I will explain to you why we can surpass Ethereum in the future.”

After declaring to be Ethereum’s competitor, the platform unveiled a whopping sum airdrop purposely for Ethereum community. This is a potential killer for Ethereum, it is in many ways!

The Airdrop Is Nearly For Every Ethereum Users.

The airdrop is majorly for those who have a balance of over 1 ETH after January 1, 2018. It appears like TRON wants to give nearly all Ethereum users the opportunity. Doing this will give Ethereum investors an avenue to experience the newest generation decentralized network and participate in community governance because according to TRON, there are many issues on Ethereum platform that TRON has solved on its main Network.

The airdrop as well gives the Ethereum community an opportunity to experience a high transaction per second development platform and use TRX to vote in TRON’s democratic community. This is saying something that the Ethereum community might not understand. Even though the TRON’s team did not state that Ethereum’s platform is not decentralised, they believe theirs is more decentralized, hence, the reason for Ethereum community to have a taste of a new generation democratic platform. This is purely an enticement for Ethereum community, and it may kill Ethereum, or make it HODlers believe in TRON.

Remember TRON is Moving Everything It Has Out Of Ethereum’s Platform?

TRON team will not only migrate to mainnet, it will as well have its DApps which are right now on Ethereum moved to TRON network. At present, TRON has 100 million users on its DApps, and all the DApps will be migrated to the new platform once it is launched.  There is no way Ethereum won’t feel this, but it will feel the $1.7 Million airdrop the most.

TRON Donates 1 Billion USD To Community

Funny how TRON donated $1.7 Million to Ethereum community, and now the platform is donating $1 billion to its community. The fund is purposely for developers and supporters to make TRON grow. Meaning, in few months after the launch, DApps will flood Mainnet and possibly outnumber that of Ethereum. The way TRON is moving, it actually wants to kill Ethereum, or possibly make it hibernate from the crypto space and if possible render its DApp platform useless.

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Ethereum’s Earliest ICO Project Finally Comes To Limelight

One of the first crowdfunded projects in the cryptocurrency space has announced it is live, after the team behind the idea used two years to cook an innovation beyond comprehension. Golem, by all indications, is the first Ethereum’s earliest initial coin offering (ICO) projects, and now it has officially launched on the Ethereum mainnet.

The project, a Tuesday, April 10, 2018 announcement revealed on its website that the Brass Beta version of Golem went live. This has raised eyebrows among well-wishers and skepticism for those who see the project as fake.

Golem, touted as the ‘Airbnb for Computers’, accrued 820,000 ether ($8 million worth, going by November 11, 2016) within 29 minutes, making analysts wonder on the future prospect of the project.

“We’ve come a long way. From being one of the first crowdfunded projects, way past the challenges we had to face while navigating the uncharted territory that is building Golem, the time has come to take the big step: mainnet launch is here,” the project indicated in the statement.

Golem is aimed at connecting computers in a peer-to-peer network, enabling both application owners and individual users, branded as requestors, to rent the resources of other users’ (providers) machines.

According to Golem project, the resources can be used to complete tasks that require diverse computation times and capacities.

“Golem is a p2p network where users are equally privileged. People who seek to compute tasks broadcast their offers in the network, while those parties that have computer power, scan the offers and try to connect with the requestors of choice. Golem’s transaction system matches providers and requestors, taking into account prices, reputations and their machines’ performance. Resources, i.e., files needed for computation are sent to the provider’s machine. After the computation is completed, the provider’s app sends back results to the requestor’s app.”

Golem is seen as an international, virtual market space for unused computing power. Providers can rent out their idle computing power, and get paid on the go.

Now that the idea is open to users, the project team says it understands that the project is now open to diverse risk, however, the reason behind launching the Beta version onto the mainnet, according to the team, is that real users can explore and confirm that the software is awesome.

“Golem is a dApp, and as any other, it required testing through a contained “laboratory”. But in order to progress, we need to get out of this comfort zone, and make sure the elements that we have worked hard, and continue to build, are responsive and working well on a decentralized setting.”

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NEO Economy and Unique Price Development – Recovery on Its way: Sep 30 Analysis

NEO (“Antshares” or even known as China’s Ethereum) is the most successful virtual currency based in China and the first open source blockchain there.

Very alike to Ethereum’s network – NEO uses a general idea of the blockchain and runs smart contracts on it. Smart contracts – Self-automaticaly executable terms of a specific contract.

“Blockchain technology provides us with a decentralized, tamper-resistant, highly reliable system in which smart contracts are very useful,” NEO’s founder Da Hongfei told TechNode.

To begin with, NEO creates a unique digital economy around it’s token. NEO is a full integration of digital assets, digital identity, and smart contracts, creating a fully digitized economy that will be transparent and safe, and make money laundering and underground dealings difficult or impossible. Because of the ability of the new NEO blockchain system, companies and developers will be seeking to use NEO for various applications. The proliferation of smart contracts will make investment on the NEO platform simple and safe.

Unlike Bitcoin, which only allows for the cryptocurrencies and no programming, NEO is very simple to learn and understand (unlike Ethereum), and has the ability to work with nearly every (90%) programming language available. NEO uses compilers compatible with Java, C#, and .NET, and will support Python, Go, and others in the near future.

When it comes to the price development that have taken place now, NEO is on a positive surge reaching for recovery. It has been two weeks since the price dropped to $13.42 while now it is trading at around $32.16 with 10.49% increase in the last 24-hours.

neo prediction

The NEO price surged on Monday after Dutch financial news outlet Het Financieele Dagblad published an interview with NEO founder Da Hongfei. He speculated that a future collaboration between NEO a Gov.

On top of that, the decision that Bitfinex did take for adding NEO on its platform and being able to pair with USD, BTC, and ETH did put a surge of 50% at the beginning of the month rolling. The event would add liquidity for NEO and open the gates for exposure to the major USD market.

NEO now has passed Monero by market capital taking the 9th position with $1.59 bln and a trading volume of $55 mln in the last 24-hours.

Of great importance and note taking before taking any NEO-trading action, is to see if the price creates stable trading ground above the $32.00 level to continue increasing.

The specific level did before act as a support and now as a resisting barrier which needs a successful close above for upward continuation. A change in the price development is at the ‘door-step’ as the closing-triangle pattern is near the above mentioned mark.

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NEO (“Antshares”) Price on Recovery Rally: GOV Cryptocurrency possible Collaboration – China’s Ethereum Prediction

The recent stage-entered crypto-coin NEO (formerly known as Antshares before rebranding) experienced major price upward climb on Monday Sep 25 after an interview of the director – Da Hongfei (NEO’s creator) was made public by Dutch news outlet Het Financieele Dagblad.

Initially comments on the China regulation event were given out by the founder as the official were consulted with him about the ICO ban suggestions.

That was followed on a statement that there is a possible collaborative future between NEO and the Chinese Gov:

“I do not expect the government to call me in the short term and say, ‘Let’s use Neo as the blockchain technology infrastructure in China.’ But in the medium term? Why not? I think it’s possible.”

The significant steam hoisted the price up to $27.00 in a couple of hours with 25% gain in only 24-hours. This could be NEO’s highest price for around 20 days now since it continual declining pattern started the moment the value reached its all time high – approx $51.00.

neo future forecast

The market capitalization of the 10th on the list reached $1.3 billion with the recovery and the trading volume is on the rise for the moment being around $100 million.

The $20.70 resistance level was very important to be cleared as it opens doors for more gain and changes the descending flow created for more than a month now.

Even that the collaboration is sometime in the future and might not take materialization form for the holders but keeping the part of the network share and believing in the team behind it is a way to start.

One of the most promising coins on the market with its idea and enthusiasts supporting it. Let’s wait what future holds for NEO.

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NEO (“Antshares”) Price on Recovery Rally – China’s Ethereum Prediction

The recent stage-entered crypto-coin NEO (formerly known as Antshares before rebranding) experienced major price upward climb on Monday Sep 25 after an interview of the director – Da Hongfei (NEO’s creator) was made public by Dutch news outlet Het Financieele Dagblad.

“I do not expect the government to call me in the short term and say, ‘Let’s use Neo as the blockchain technology infrastructure in China.’ But in the medium term? Why not? I think it’s possible.”

The significant steam hoisted the price up to $27.00 in a couple of hours with 25% gain in only 24-hours. This could be NEO’s highest price for around 20 days now since it continual declining pattern started the moment the value reached its all time high – approx $51.00.

neo future forecast

The market capitalization of the 10th on the list reached $1.3 billion with the recovery and the trading volume is on the rise for the moment being around $100 million.

The $20.70 resistance level was very important to be cleared as it opens doors for more gain and changes the descending flow created for more than a month now.

Even that the collaboration is sometime in the future and might not take materialization form for the holders but keeping the part of the network share and believing in the team behind it is a way to start.

One of the most promising coins on the market with its idea and enthusiasts supporting it. Let’s wait what future holds for NEO.

Read Also:

– For more Cryptocurrency market related Updates and News Follow us on our Facebook and Twitter pages..