Crypto News

Cardano Founder And ETH Dev Get Into A Tussle of Word On Twitter

Twitter threads from last week reveal a series of heated arguments between Cardano founder and Ethereum’s co-founder, and Vitalik Buterin. Amid several backlashes caused by lapses in the Ethereum Upgrade, the co-founders argue over the execution of the POS consensus mechanism. A lot has transpired within the past days after the Ethereum upgrade. Also, there are more like the Shanghai upgrade to come. On Saturday, 24 September, Evan Van Ness, a Web3 investor, expressed his opinion regarding the Ethereum merge. Van asserted that the last ten days after the merge are evidence the merge should have happened earlier. Related Reading: ETH Struggles To Break Past $1,300 Resistance – Back To $1K? Buterin seeing Van Ness’s tweet, agreed with him, saying they should have implemented an NXT-like chain based on POS. Charles Hoskinson Claims Ethereum POS Is a Bad Design Hoskinson joined the Buterin-Van Ness conversation, saying there should be a Snow White protocol to ensure faster POS migration. Hoskinson’s opinion didn’t go well with the others, which resulted in an argument between him, Van Ness, and other Ethereum developers. Snow White is a protocol that provides end-to-end proof of security for POS systems. Hoskinson has been an advocate of Snow White for many years. Hoskinson claimed his idea for the Ethereum network’s technical upgrade in 2014 was better than the present upgrade. Van Ness recalled that Hoskinson got removed from Ethereum due to his bad behavior and lack of notable technical contributions. Hoskinson accused Ethereum developers of ignoring Ouroboros in the last five years. Ouroboros is a secure proof-of-stake blockchain and the first peer-review researched based protocol. He also said the present version of the proof-of-stake upgrade is not well-designed. In their argument, Hudson Jameson, Ethereum’s core developer, responded to Hoskinson’s Ouroboros implementation claims. Jameson told Hoskinson that Ethereum developers hated Cardano because of his actions and behaviors. I guess Charles forgot about his Reddit history and how much he shit on Ethereum as he was building Cardano. Additionally, Vitalik did review Ouroboros a while ago. Ethereum devs aren't wanting to look at Cardano because of your attitude and actions as the face of Cardano. https://t.co/QB3QYRKkm5 pic.twitter.com/daX56FfwGv — Hudson Jameson (@hudsonjameson) September 26, 2022 The Ethereum developer also spoke of Hoskinson’s ill-treatment of Ethereum while he created Cardano. He also said Vatalik had reviewed Ouroboros. Charles Hoskinson On Success Of Cardano Hoskinson boasted that Cardano is not dependent on cryptocurrency to succeed and that they’ve grown to billions without mass adoption. Although similar arguments are not new between Hoskinson and the Ethereum developers, it shows how detached from each other the two blockchain’s have become. Both Ethereum network and Cardano are in the middle of intensive upgrades, but Hoskinson is known for his bullish opinions on his previous projects. Related Reading: Algorand: ALGO Price All Go With Nearly 30% Rally In Last 7 Days Cardano Vasil Upgrade and hard fork took place on Thursday, 23 September. Input Output Hong Kong (IOHK), the blockchain company behind Cardano, announced the successful upgrade via Twitter. IOHK stated the hard fork upgraded the network to block transmission without full validation to enable faster block creations. The Plutus smart contracts upgrade was for increased efficiency and a low-cost running of decentralized applications. Featured image from Pixabay, Chart: TradingView.com

Crypto News

Ripple Outperforming Almost The Whole Market, What’s Pumping XRP Price? 

The currency of the blockchain-powered online payment platform, XRP, has gained almost 60% in the past week. After briefly dipping to $0.34 five days ago, the token climbed back and traded around $0.52 this morning. Crypto influencer Ben Armstrong claims to know the reason behind this continuous climb amid the current general crypto bear market. The multiple-crypto holder shared his two cents about the state of events with his 800k plus followers on Twitter yesterday. Related Reading: Maker DAO Shows Bullish Sentiment After A While, Eyes $800? Influencer Believes Impending Close To Ripple-SEC Case Is Responsible According to Armstrong, multiple factors are causing Ripple’s insane price surge. However, he can confidently trace one primary reason to the ongoing SEC court battle with the sixth strongest crypto. The influencer tweeted that SEC has given up on its 2-year struggle of trying to prove XRP is a security. As of this week, the Ripple community “can be pretty confident the worst-case scenario is a fine,” the tweet reads. The last weekend saw both parties in the ongoing case filing for summary judgment. In other words, Ripple and SEC believe enough evidence has been provided for a verdict outside a court case. They wait for Judge Torres’ decision supporting one side or the other based on already available evidence. A court battle that started way over in 2020 might soon be coming to an end. Ripple And XRP Community Expect A Favorable Verdict Like Ben Armstrong, the Ripple community and Ripple Labs are expectant of a favorable ruling. If that happens, XRP will not be considered a Security but a digital asset, just as Ripple intended.  Another crypto influencer predicted that if this happens, it will be the needed boost the bearish crypto market needs. David Gokhshtein tweeted that the crypto market will go parabolic should XRP win this case. He and Brad Garlinghouse, Ripple’s CEO, believe a win for XRP would stamp cryptos stand with regulation. Consequently, it would increase investors’ faith in the ailing asset. Whale Movements On XRP Blockchain Also Partially Responsible For Price Boost Another reason for the surge in XRP seems to be whale movements on the platform. On-chain analytics firm, Sentiment data reveal an increase in whale transactions on the Ripple blockchain.  Furthermore, the Whale Alert crypto tracker revealed multiple anonymous transfers of significant amounts of XRP in the past week. Data showed that a 261 million XRP transfer and another 582 million XRP transaction took place. Ripple was involved in both transactions, moving 80,000,000 of the tokens externally. In total, close to a billion tokens exchanged hands in whale transactions last week.  Related Reading: Can WAVES Flow Back From Its Low Ebb And Reclaim $4.6? These two factors mentioned above are mainly responsible for the continuous climb of XRP tokens over the last week. One can only wait to see if the XRP community’s optimism is indeed rightly placed and that ripple will indeed win the case. At the time of writing, XRP is currently trading around $0.48 after briefly testing $0.52 earlier today per Coinmarketcap data.  Featured image from Pixabay and chart from TradingView.com

Altcoins

Web3 Altcoin Inks Deal With New England Patriots and Jumps by 25% This Week, Thwarting Crypto Market Woes

A Web3 altcoin is surging this week amid news that it inked a sponsorship deal with the New England Patriots football team. Through a multi-year partnership with Kraft Sports + Entertainment, the blockchain infrastructure solution company Chain (XCN) is now the “official blockchain and Web3 sponsor” of the Patriots, the New England Revolution soccer team, […]

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Crypto News

Chiliz (CHZ) Leads The Market By Adding Over 30% A Week In Bear

The outlook of the general crypto market hasn’t been very encouraging in recent times. This week saw most coins losing their daily and weekly price gains. For instance, Bitcoin stayed red in both daily and weekly price gains. Currently, its 24-hour price is showing a drop of 1.83%. But the 7 days movement shows a price loss of 4%. Ethereum has also shown an unimaginable loss in its 7 days price gain. Related Reading: Polkadot Suffers 10% Weekly Loss On Hawkish Fed – Time To Buy DOT? As of September 23, ETH hourly gain, 24 hours gain, and 7 days were all red. The crypto lost 0.02% in 24 hours and 11.44% in the 7-day movement.  Chiliz CHZ Not Affected By Bearish Trend   Chiliz (CHZ) is showing a different price movement amid the bearish momentum. Its gains in 7 days have continued to increase. Currently, CHZ is trading at $0.2685, showing a 5.31% price increase in 24 hours.  But this gain is not the most interesting since CHZ’s price in 7 days has increased by around 30%. Since September 16, the coin has continued to climb considerably. It opened the market at $0.1901 but jumped during the day, reaching $0.2099.  That day marked the beginning of a positive price movement that has lasted till today. CHZ has maintained its hold above $0.2 and hasn’t dipped below the price since September 16.  But What Could Be Pushing Chiliz CHZ Continuously?  The first notable push started with the announcement of CHZ 2.0, Chiliz native chain, last month. The developers informed the community of their intentions about launching the chain for their NFTs and fungible tokens, moving them away from the Ethereum blockchain.  The announcement led to a spike in price and trading volume. After the information, the crypto whales again showed their hands, pushing transactions higher. Data reveal that the transactions reached above $100,000 and caused a rise in CHZ price by 12.5% on the same day.  Analysts also predicted last month that CHZ would hit its cup and handle the pattern profit target of $0.32 by September. The indications were shown on August 14 when the token broke out of its prevailing cup and handle setup.   Will, The Macro Factors Push CHZ Price, Down? Analysts predicted that CHZ would reach its profit target this month due to its positive movement in August. With the current movement in price, the token might reach the predicted price very soon.  Gaining 30% in seven days is not an easy feat amid the ongoing bear trend. If it continues in that trend, CHZ might grow higher before September ends.  Related Reading: PoW Tokens Take A Hit: Ravencoin and Ethereum Classic Crash Over 20% But then, the bearish market is due to macroeconomic factors, including inflation, a rising level of CPI, and continuous interest rate hikes. These factors contributed to the crash in the crypto market.  No one can predict prices. So CHZ has many challenges to face to continue its upward trend.  Featured image from Pixabay and chart from TradingView.com

Bitcoin Crypto News

Ripple Gains While Bitcoin Remains Below $20,000

A recent plunge pushed Bitcoin below the $19,000 mark, but it gradually recovered. This action followed its 6% gain as of yesterday. Meanwhile, Ripple Coin (XRP) seems to be among the notable digital tokens in the bullish trend. Investors incurred huge losses due to the ongoing crypto winter. Many believed that the Ethereum Merge would halt the market’s bearish trend. On the contrary, most altcoins, including BTC, depreciate their prices. Related Reading: What Ethereum Can Bring On The Table For ETH Investors In Q4 Bitcoin Fails To Jump Above $20,000 Last week, Bitcoin made some promising moves toward the $23K price level. But, unfortunately, that was where its bullish journey ended. From then up to now, the crypto market condition has not been pretty, particularly for investors. Following the introduction of the U.S. CPI numbers, BTC lost a few more thousand, dropping to the $20K price mark. It maintained this position for a couple of weeks until it rose to about $20,500 on Sunday. That looked like a start for a bullish move until Monday when its price dropped massively, hitting the $18,300 price level. The three-month low became its lowest bearish benchmark. As of September 20, BTC gained some push to arrive at $19,500. The 24-hour growth of 1.72% reduced its weekly losses to around 10.90%. While this seems like a good price movement, the token and the crypto market remain in the red zone. Recently BTC fought to regain the $19K price. It made some bullish movements at the time. Unfortunately, BTC has lost about 2% of its value in the last 24 hours. Chances are that it will plunge even further before the close of the market. The token is now down to 39.4% regarding its dominance over other digital tokens. Meanwhile, its market cap has dropped to about $360B. Ripple XRP Growth Amid Bear Market Amid the bleeding market, XRP (Ripple) seems to be in the spotlight among the gainers. Its growth can be traced to the recent event between Ripple Labs and the SEC. Ripple trades at $0.4, a 10% increase in the last 24 hours. Following the Monday red zone parade, several other digital currencies gained some bullish push yesterday. Unfortunately, the green glory didn’t last for many of these digital tokens, according to today’s market watch. Among the digital assets with the highest losses was Ethereum. The Merge, as many believed, was meant to take Ether to some green heights. While that is probable, Ethereum is currently plummeting to an unknown price level. Related Reading: Polygon (MATIC) Downward Trajectory Faces Resistance At $0.94 Level A few days back, Ethereum traded at just over the $1,600 mark. Days later, it went down to a little below $1,300. At the time of writing, Ethereum trades at $1,311, around a 1% decrease in the last 24 hours. Featured image from Pixabay, chart from TradingView.com

Altcoins Bitcoin

Analytics Firm Says Bitcoin and XRP Flashing Bullish Signals, Predicts Further Downside for One Top-25 Altcoin

Crypto analytics firm Santiment says both Bitcoin (BTC) and XRP are flashing bullish signals amid the market downturn. Starting with Bitcoin, Santiment says that the social dominance metric of the flagship crypto asset has gone up. According to Santiment, the social dominance metric, which indicates the percentage of discussions on various platforms focused on one […]

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Crypto News

ShareRing Enables Direct $SHR Swapping Between BNB Chain and ShareLedger

From September 22, ShareRing app users can directly swap $SHR between BNB Smart Chain and ShareLedger (SLP3) without first converting to Ethereum ERC-20 token. ShareRing said the decision to slash conversion steps from three to two would drastically boost efficiency, lower the cost of conversion, and save time. $SHR is native to ShareLedger, a Leased Proof-of-Stake blockchain that’s scalable and energy efficient. Compliant with the ShareRing standard, the token is primarily used to pay transaction fees. However, because the token is cross-chain and can be held in various blockchains, including the BNB Chain, and Ethereum, all $SHR transactions can be tracked on the ShareLedger blockchain. There is a trail that prevents fraud by ensuring a simple and reliable tracking mechanism on the ShareLedger blockchain. Before this announcement, $SHR token holders were required to shift their BEP-2 token first to the BEP-20 version in the BNB Chain through the non-custodial Binance Wallet. In the second step, they had to move the newly converted BEP-20 $SHR to Ethereum as an ERC-20 token through the Multichain Bridge. Afterward, they had to move them to ShareLedger (ShareRing App) as an SPL3 token. This three-step procedure was not only tedious but consumed many resources. Notably, there was a risk of users paying high transaction fees when shifting the $SHR token via Ethereum. This is because Ethereum is the world’s most active blockchain that continues to face scaling challenges, forcing Gas fees to outrageous levels. Depending on network activity levels, simple conversions, including transfers, can dent a sender requiring them to pay high fees that they would not otherwise spend in the BNB Chain or ShareLedger. By eliminating the need to move to Ethereum via the Multichain Bridge, ShareRing is tirelessly continuing with its objective of refining the user experience and working on improving the liquidity of the $SHR cross-chain token. While the Multichain Bridge will continue to serve users wishing to move tokens between Ethereum and the BNB Chain ecosystems, the decision to convenience users wishing to bypass Ethereum when transferring between ShareLedger and Binance is welcomed. To conclude with this updated swap module there will be faster transactions, cheaper gas fees, improved efficiency when swapping $SHR into SLP3 and usage of EIP712 to sign and verify the approvals on smart contract side. Also, it reduces the usage of centralized database for keeping transactional data and it improves overall performance. This feature comes amid ShareRing’s drive to build an active, cyclic ecosystem that leverages features made possible by smart contracts and blockchain. ShareRing recently announced the NFT Simple Event feature available on the ShareRing Application designed for organizing and managing events. By integrating NFTs, the host can, in real-time, be assured that attendees are the ones invited, all while keeping their data private.