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

Altcoins Analysis Bitcoin Blockchain

PROJECT XENO Partners Up With Floyd Mayweather Jr. For NFT Auction

PROJECT XENO Partners Up With Floyd Mayweather Jr. For NFT Auction

PROJECT XENO, a gaming platform by CROOZ, announced today its partnership with Floyd Mayweather Jr, a former professional boxing world champion in five weight classes. The partnership seeks to launch the first NFT auction featuring special limited Mayweather characters. The auction offers a limited edition of 10 NFT up for grabs. Participants will also get […]

Crypto News

Chainlink Price Spikes Above $7 While Bitcoin Sinks Below $20,000

Among other investment assets, cryptocurrency is prominent when it comes to volatility in prices, including altcoins such as Chainlink. While an uptrend matters a lot to daily traders, dipping could be favorable for accumulation for long-term investment. The crypto market over the weekend saw slight positive progress in the prices of most tokens. The past week was downward, but this week could bring more hope. General analysis on a 24-hour scale for most altcoins shows that last Sunday came with a commendable trend. The majority of the tokens displayed significant progress in an uptrend. Chainlink native token, LINK, was at the forefront, among others. Related Reading: Litecoin Price Watch: Why Only 15% of LTC Holders Are Making Profit But the story is quite different for the primary cryptocurrency. After moving to the $19,000 region, BTC stalled on the level through the weekend. Chainlink Leads As The Top Performer The crypto market witnessed a positive turnaround, especially with the price performance of the altcoins. The total market cap has stalled with the outcome without making another drop. The value is currently around the $950 billion level. LINK, the native coin of the leads as the best performer among the altcoins. The token increased by above 5% in the early hours of trading today with an approximate price of $8. For Ethereum, there is a progressive reclaiming from its 20% post-merger drop. ETH swung into the green as the price crossed the $1,300 level. Other altcoins increased in their values. These include Solana (SOL) and Shiba Inu (SHIB), which rose slightly. However, for Cardano (ADA), the price stalled on a particular level despite the recent launch of the Vasil Upgrade. Some crypto assets with a slight dip include Polkadot, Ripple, Polygon, Binance Coin, Dogecoin, Tron, and Avalanche. BTC Stagnates At Around $19,000 The performance of Bitcoin over the past week has not been quite impressive. However, it is notable that before the US Federal Reserve’s rate increase, BTC made an upward jump. The token surged from $18,300 to around $20,000. However, its sustainability was short-lived. The announcement of the 75 bps rise in interest rates caused a drastic drop in the price of BTC. The primary crypto asset lost almost $2,000 in value within hours following the announcement. Bitcoin plummeted to a new 3-month low of $18,100. The crypto market was thrown into another panic as the selling pressure increased. But after a few days, the price of BTC reclaimed slightly and crawled to the $19,000 level. Then, as the market encountered more bulls, Bitcoin climbed up to $19,500 through the trading hours between last Sunday and today. Related Reading: Dogecoin (DOGE) Is On Top Of Whales’ Menu – Here’s Why At the time of writing, BTC is trading around $19,187, depicting a 0.71% increase over the past 24 hours. Its dominance over the altcoins has returned to 39%, while its market cap is almost about $365 billion. Featured image from Pixabay, Chart: TradingView.com

Altcoins Analysis Bitcoin Blockchain

Ethereum’s Buterin Seeks Dogecoin’s Switch to PoS as DOGE Becomes 2nd Largest PoW Coin

Ethereum's Buterin Seeks Dogecoin's Switch to PoS as DOGE Becomes 2nd Largest PoW Coin

Vitalik Buterin, the co-founder of Ethereum, has hinted at his desire to welcome Dogecoin to the PoS community. This divulgence comes as the asset assumes the second position of the largest PoW network following Ethereum’s switch to PoS. Vitalik hopes Dogecoin and Zcash will switch to PoS soon Vitalik Buterin revealed the inclination while speaking […]

Crypto News Ethereum

Ethereum Price Broke Out Of Descending Channel, What’s Next?

Ethereum price has been trading within a descending trendline, which is a sign of bearishness. Over the last 24 hours, the Ethereum price has been different as the coin registered a 6% appreciation. As the coin appreciated, it broke outside of the descending channel. Over the last week, the Ethereum price lost more than 7% of its value. The buyers have entered the market, which has helped Ethereum climb on its chart. Although buyers are attempting to make a comeback, the sellers continue to drive the price action on the one-day chart. The $1,400 price mark continues to remain a tough resistance zone for Ethereum price. A break past from the aforementioned support line will help ETH revisit its next price ceiling. The technical outlook for Ethereum continues to remain bearish at the time of writing. Bitcoin’s price recovery has helped major altcoins pick pace over the last 24 hours. Ethereum Price Analysis: One Day Chart ETH was trading at $1,340 at the time of writing. In the past 24 hours, the buyers have helped the coin break outside of the descending trendline. The immediate and strong resistance remained at $1,400. The altcoin has struggled to break past that level over the last couple of weeks. Once the $1,400 mark is broken, Ethereum can attempt to trade close to $1,700. On the other hand, a fall from the $1,340 price mark will push ETH down to $1,100 and then to the $1,000 level. The past trading session for Ethereum was green, signifying an increase in the number of buyers. Technical Analysis On its chart, ETH was attempting to recover. However, the buyers have remained low at the time of writing. Technical indicators have pointed towards a bearish outlook. The Relative Strength Index was below the half-line, which also indicated that buyers were fewer in number than sellers. Ethereum price was below the 20-SMA line, which signified low demand. It also meant that sellers were driving the price momentum in the market. Related Reading: Can WAVES Flow Back From Its Low Ebb And Reclaim $4.6? ETH’s other indicators have also shown that the sellers were in control of the market at the time of writing. The demand for the coin has to go up in order for the coin to touch its next resistance mark. The Moving Average Convergence Divergence indicates the price momentum and overall price action. MACD witnessed a bearish crossover and formed red histograms at the time of writing. This reading is connected to the sell signal for the coin. The Chaikin Money Flow displays the capital inflows and capital outflows at a given period in time. The CMF was below the half-line and that points towards low capital inflows, although there was an uptick on the indicator. Related Reading: Maker DAO Shows Bullish Sentiment After A While, Eyes $800? Featured image from UnSplash, Chart: TradingView.com