Enterprise Ethereum Alliance [EEA] announced the launch of Enterprise Ethereum Architecture Stack today. The world’s biggest blockchain consortium, EEA’s standards-based approach provides a superior customer experience and enables the creation of news and innovation solutions.
The EEA says:
“This stack defines the building blocks needed to drive the Web 3.0 era of decentralized, connective intelligence—the next generation of Enterprise Ethereum applications that, like the Internet, will work anywhere and are capable of facilitating smart contracts without intermediaries. The stack… incorporates components developed by the Ethereum Foundation.”
With an aim to develop Ethereum based private blockchains, the EEA works towards customizing Ethereum for industry players and has a team of 500 organizations and User and Technical Working Groups which comprise of 20 members.
As Ethereum public blockchain is the base for private blockchains, they could be supporting the public blockchain and allow communication or connection between private and public blockchains.
EEA said in a statement:
“Until recently, developing an enterprise blockchain solution required organizations to build from the ground up either using their own enterprise-friendly implementation of Ethereum or other variations of a private-permissioned Enterprise Ethereum application.”
EEA’s Architecture Stack solves these issues, and Ethereum developers can write a code which can enable interoperability. This will also promote proprietary offerings over EEA specification-based solutions.
Ron Resnick, the Executive Director of EEA said:
“The EEA’s standards-based approach enables enterprises to deliver a superior customer experience and create new and innovative solutions. Plus, having multiple vendors of choice will likely mean competition will drive down costs.”
He further added that world-class standards-based specification is provided for Enterprise Ethereum solutions through the release of the stack. “having multiple vendors of choice will likely mean competition will drive down costs.” he said.
A Redditor commented:
“lol, sad truth for now….. If it was BTC it would goto 50k. ETH will have its day eventually. Just be patient.”
A developer commented:
“It wouldn’t be good news if there wasn’t a selloff!”
Ethereum [ETH/USD] Technical Analysis: Bull’s presence dims the market
After a mass massacre, the bear seems to have slowed down its rampage in the market as the cryptocurrencies have not witnessed a massive price movement. The most-affected coins in the market include Bitcoin [BTC], Litecoin [LTC], Monero [XMR], Cardano [ADA], and Ethereum [ETH].
According to CoinMarketCap, at press time, Ethereum is trading at $89.70 with a market cap of $9.3 billion. The cryptocurrency shows a trading volume of $1.53 billion and has plunged by more than 11% in the past seven days.
In the one-hour chart, the coin demonstrates a downtrend from $102.14 to $96.89. It also shows another fall from $89.99 to $88.45. The coin has an uptrend from $82.85 to $85.90, and a second one from $86.58 to $87.76. The immediate resistance is at $90.40 and the strong resistance at $97.38. The coin has set its immediate support ground at $85.88 and a strong support ground at $82.82.
Parabolic Sar is showing a bearish trend as the dots have aligned on top of the candlesticks
Chaikin Money Flow is demonstrating a bullish trend as the line is above the zero mark.
Bollinger Bands are forecasting a less volatile market for the coins as the bands have started to converge.
The one-day chart demonstrates that the coin has a downtrend from $466.01 to $208.77. It records another steep downwards trend from $208.77 to $89.09. The immediate resistance for the coin is at $122.28 and the strong resistance is set at $317.84. The support level is set at $86.87.
RSI is predicting a bearish move as the coin is currently oversold in the market.
MACD indicator has pictured the moving average line make a bullish crossover.
The same seems to the case with Klinger Oscillator as well, as the reading line has made a crossover only to take the upwards direction.
The bearish trend is predicted by the Parabolic SAR from the one-hour chart and the RSI from the one-day chart and the bullish trend is predicted by MACD and Klinger Oscillator from the one-day chart and the CMF from the one-hour chart.
Fidelity, Akuna Capital backed fundraising raises $4 million for crypto-to-USD lending startup BlockFi
Fidelity and Akuna Captial led fundraising raised a whopping $4 million for BlockFi, a startup, which is similar to the online lending industry in fiat, but for cryptocurrencies. The company plans to start debit and credit products for crypto-assets in the market.
BlockFi has been the talk of the week, as major Wall Street players like Fidelity, Akuna Capital, Mike Novogratz’s Galaxy digital, and even Anthony Pompliano’s Morgan Creek Digital are backing the startup.
The recent round of funding that raised $4 million was led by Akuna Capital, with participation from CMT Digital, Susquehanna Government Products, LLLP, Recruit Strategic Partners, Galaxy Digital Ventures, Morgan Creek Digital and Devonshire Investors, the private equity group affiliated with FMR LLC, the parent company of Fidelity Investments.
The latest round was preceded by two other rounds, the first being the ConsenSys Ventures, SoFi and Kenetic Capital round that raised $1.55 million, and the second round led by Galaxy Digital, which raised $52.5 million.
BlockFi is the only firm which offers individuals and companies, loans using cryptocurrencies as collateral. Currently, the company offers services in 42 US states and plans to extend its services worldwide.
Speaking to Anthony Pompliano, Zac Price, the CEO of BlockFi, explained why he decided to start a lending industry for cryptocurrencies:
“For all the same reasons why the online lending industry was successful, there are areas in the lending industry that the banks are not participating. I thought that the crypto-ecosystem was going to need debt and credit products, just like every other asset class, and banks were not going to do that.”
Toby Allen, the head of digital assets at Akuna Capital, added:
“The BlockFi team is providing a critical piece of financial services infrastructure in the crypto space. Companies like BlockFi are representative of the high-quality development that will facilitate continued consumer adoption.”
Zac Prince, CEO of BlockFi, said:
“We’re thrilled to have such a strategic group of investors supporting our efforts to bring low-cost credit to crypto market participants. Our pragmatic approach to fundraising and team building has enabled us to continue growing through negative market conditions.”
Anthony Pompliano, the founder and partner at Morgan Creek Digital, tweeted on December 12 and revealed that firm had also invested in BlockFi.
A Twitter user Gregg commented:
“I just want a cc that pays BTC as a reward”
Mark W. Yusko, a partner at Morgan Creek Digital, replied:
“Actually a Great Idea….”
Another Twitter user Cryptomanager replied:
“I second that! I have a massive points on Citi, I wish it can be converted to any cryptocurrency”
Tron [TRX] energy cost to be reduced from 20 sun to 10 sun
XRP/USD Technical Analysis: Sideways movement to end as breakout imminent
Monero [XMR]’s Riccardo Spagni: BAT is lot more centralized than they purport it to be
Ethereum [ETH/USD] Technical Analysis: Bull’s presence dims the market
Despite Bitcoin [BTC]’s massive crash in the 2018 bear market, crypto-verse sees massive evolution and adoption
BREAKING: Ripple class-action lawsuit rolls ahead; plaintiffs place new demand
Ripple CEO responds to NYSE Chairman’s comment on digital assets
Bitcoin [BTC] could rally upto $333k by December 2021, after reaching $2,500 in January 2019: Bobby Lee
XRP integration into OMNI, Xpring’s role in company’s growth discussed by leader
XRP ecosystem blooms as the year ends; Ripple, r3 leave animosity behind and more
Bitcoin [BTC]’s mining death spiral explained by BlockTower’s CIO, Ari Paul
Ethereum [ETH/USD] Technical Analysis: Trend reversal expected as bull attempts to overpower bear
Ripple’s European official speaks about XRP and the use cases of xVia and xRapid
Cardano [ADA] creates record by becoming 4th biggest loser in terms of trading price against all-time high