As of press time, Ethereum has passed block #9068000, putting it within 1000 blocks of the scheduled Istanbul hard fork, which should take place at around 23:30 UTC.
The much-anticipated shift to Istanbul will be the Ethereum network’s first hard fork since February’s Constantinople. Both are stages of a broader phase of ongoing development that began in 2017 called Metropolis.
Vitalik Buterin has claimed that Ethereum will support 3,000 transactions per second after the upcoming Istanbul fork.
Will this unleash a new wave of Ethereum creativity? Might we expect a surge in traffic on the Ethereum network? Could its increase influence the price of ETH?
Ethereum is slow
The conventional wisdom is that Ethereum is too slow. But for what purpose is it too slow? It seems to be sufficiently fast for financial services. But the mistake people are making in saying “Ethereum is slow” is misunderstanding what a great thing, counterintuitively, it is to be slow. ETH works because users want to pay (in the form of “gas”) to perform computations.
In its “Imagine 2030” report, Deutsche Bank strategist Jim Reid forecast that by 2030, digital currencies could replace cash. Reid said that in order for mainstream integration to occur, digital currencies will have to convince regulators that they are safe for investors and find solutions for issues such as cyber attacks, electricity consumption and digital war.
Cryptocurrency adoption by a large traditional financial institution could also signal that digital assets could one day replace fiat currencies in the future.
To counter the possibility of fiat currencies being undermined by cryptocurrencies, several governments are planning to issue their own central bank digital currency (CBDC). The latest to confirm working on a CBDC is France. Bank of France governor François Villeroy de Galhau recently <a href="https://cointeleg
Microsoft’s blockchain-enabled cloud platform Microsoft Azure announced the “Azure Heroes” blockchain non-fungible tokens (NFT) aimed at rewarding its developer community.
The tokens represent cartoonish badgers (a play on the word “badge”) and aim to compensate positive behavior in Azure’s community. Each badger has a limited supply ranging from just 100 units to 10,000, Microsoft announced on Dec. 4. The firm said:
“Azure Heroes aims to reward individuals for verifiable acts of impact such as coaching, creating demos, building sample code, blogging about Azure or completing certain challenges. Com
It may seem surprising, but platforms designed for loans and lending through the use of cryptocurrencies are a relatively new development for the crypto industry. Each platform adheres to its own strategy, but the idea shared by all is that users put their cryptocurrency into an automated smart contract as collateral for a loan.
The contract tracks accrued interest and credit payments and also prevents anyone from interfering in this process. Unlike traditional lending, there is no need for credit checks and scoring, as well as for the lender to seriously consider the option of physical pressure on the borrower.
A young industry
Cryptocurrency loans platforms began to develop during the bear market of 2018, as crypto prices became critically low at the peak of the downturn. At the time, owners of digital currencies who didn’t want to sell their crypto at low prices lent out their holdings and made money on intere
Bitcoin started the day at $7,344, at which point the world’s largest crypto coin found an intra-day low of $7,230 before moving up again to the exact same trading price near $7,340. After a sluggish 24 hours, BTC is showing a gain of 0.5% for the day.
Bitcoin price continues to trade with an advantage to bears but this does not mean investors or miners have capitulated. About 64% of the total Bitcoin mined to date has been dormant in wallets since 2018. This shows that Bitcoin hodlers do not believe in trading for short-term gains, as they anticipate much higher prices in the future. While this might be a feasible strategy for the whales, retail traders can rake up profits if they buy during periods of deep distress and sell their positions during times of euphoria.
One of the events that many hopeful investors are anticipating is Bitcoin’s block reward halving in May 2020. However, Jason Williams, co-founder at digital asset fund Morgan Creek Digital, believes that the halving will be a
HEX is a new financial tool and cryptocurrency launching on the Ethereum network via a Bitcoin UTXO snapshot on December 2. Critics are questioning HEX’s legitimacy, calling it a colossal cash grab and privacy compromise. Devout fans can’t wait to claim their tokens and start staking. So who’s right and who’s wrong?
Richard Heart, the outspoken man behind HEX, sat down with Cointelegraph to talk about the upcoming launch and counter a few of the criticisms surrounding the project.
Heart explained that HEX is the world’s first high-interest blockchain certificate of deposit (CD), letting users stake their tokens in return for interest. Users can enjoy interest payments ranging from 3.69% if 99% of the total supply is staked, up to a