ETH 2.0 Won’t Fix Ethereum’s Scalability Problems, Analyst Argues

Key Takeaways Unique addresses for DeFi are growing exponentially, crossing the 450,000 mark since the beginning of this year. Ethereum needs to scale considerably to on-board the existing crypto user base of 50 million to DeFi platforms. ETH 2.0 along with the layer-2 implementations might not be able to keep up with the growth in network usage from DeFi. Share this article The average transaction fee on Ethereum costs $7.5, three times that of Bitcoin. Setting up a wallet on MakerDAO costs over $40, while the fees to lend on…

Ethreum partners with ChainSafe and OpenRelay to prevent more 51% attacks

As it grapples with multiple security breaches, Ethereum Classic Labs has partnered with ChainSafe and OpenRelay in hopes of increasing its defenses against 51% attacks.  In a post, Ethereum and its Core Dev Team will work with both ChainSafe and OpenRelay to develop and test security responses.  James Wo, founder and chairman of Ethereum Classic Labs, said the partnership makes sense:  “OpenRelay and ChainSafe are both well acquainted with Ethereum Classic, through working together, will have some of the most brilliant minds in blockchain tackling the 51% problem in tandem.…

Bitcoin is About to Tap a “Do or Die” Level; Will Bulls Break It?

Bitcoin’s price action has been somewhat stagnant as of late, with the selling pressure found throughout the lower-$11,000 region proving to be too much for bulls to break. Today, however, buyers have been stepping up and attempting to generate some significant buying pressure, likely with the aim of breaking above $11,300. Because this is the last resistance level before $12,000, a break above it could catalyze a considerable upswing. That being said, how BTC trends as its weekly candle close fast approaches should provide analysts and investors alike with some…

Kava to release cross-chain money market on blockchain

Decentralized finance, or DeFi, platform Kava announced its intention to host a cross-chain money market on its Cosmos blockchain to capitalize on DeFi opportunities.  Kava said in a statement on its website that it wants to build an application called Harvest that will enable users to borrow or lend digital assets, including BTC, CRP, BNB, BUSD, KAVA, and USDX. Customers will be paid interest and in Harvest’s governance token HARD.  Harvest will integrate Kava price-reference data from Chainlink to facilitate cross-chain transfers. The firm said the platform could be accessed…

These 5 Technical Trends Show Bitcoin Could Drop After Passing $11k

Bitcoin has pushed above $11,000 after consolidating under that pivotal resistance for a number of days. The leading cryptocurrency now trades for $11,070, pushing slightly higher after legacy markets closed on Friday evening. While Bitcoin retaking $11,000 is a bullish sign, a historically accurate trader thinks that a bearish reversal here is likely. The trader in question predicted towards the end of August that Bitcoin would drop to $9,700. He was proven right just days later when BTC was rejected at $12,000, then subsequently sunk to a low of $9,800…

Philippine central bank embraces digital tokens

The Philippine central bank sees digital tokens as a means to reduce the use of fiat money and improve the delivery of financial services in the country, even as the country is still studying its own digital currency. Speaking to Bloomberg, Philippine central bank Bangko Sentral ng Pilipinas, or BSP, governor Benjamin Diokno said digital tokens “expand reach and lessen costs of financial services” as well as reduce the use of fiat money. Diokno said digital tokens improve how the central bank provides financial services to citizens. The Philippines is…

A Rejection At This Level Could Result in Bitcoin Falling to $8,000

Bitcoin is pushing higher as it has normally done over past weekends. The price of the leading cryptocurrency currently is above $11,000 — a pivotal resistance level for BTC. While this is positive for the cryptocurrency in the short term, analysts are still fearful that Bitcoin is subject to a steep retracement. One analyst commented that BTC breaking below $10,600 on a weekly time frame could trigger one such retracement. $10,600 is important to Bitcoin as prices in that general vicinity have marked three previous tops to medium-term rallies. Related…

A cloud company announces the listing of its coin on Bittrex

Beowulf Blockchain, a decentralized cloud network for communication services, has announced the listing of its coin, BWF, on the Bittrex exchange. Headquartered in Silicon Valley, the company stated that its coin would be available on Bittrex starting Sept. 24. According to Beowulf, listing its coin on the Bittrex exchange would help it decentralize ownership of the blockchain as well as provide an opportunity for people and organizations around the world to become supernodes. The company added that within two weeks of the listing, it would have distributed 100 million BWF…

Bitcoin Bouncing From Bull Market Support Points To 2021 As The Year Of Crypto

Bitcoin price recently plunged from over $12,000 at the 2020 high to back under $10,000. But after seven straight days of retesting resistance turned support, the crypto asset is already back at $11,000 and climbing. The bounce on weekly timeframes, just so happened to take place at a specific reading on the Relative Strength Index that throughout Bitcoin’s history has acted as bull market support. If the key level continues to hold, 2021 will be the year of the return of crypto. Bitcoin Bear Market Could Be Over With This…

Financial literacy will make the digital asset industry sustainable for the future

The cryptocurrency market is still in its infancy, and the overpowering sense of possibility is strong. The range of attitudes toward crypto is generally broad, but recent surveys shed light on certain inclinations one way or another. On one hand, we see beginners who venture into projects they fail to fully grasp, and on the other, we see aspirants to crypto investing who question their capability of getting involved. At one end of the spectrum are the crypto dilettantes, where interestingly, understanding and confidence tend to be inversely correlated. Last…