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Ethereum browser Metamask releases its new version with ‘Privacy Mode’

Laira Rebecca

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Ethereum browser Metamask releases its new version with 'Privacy Mode'
Source: Unsplash

Metamask recently made an announcement regarding the launch of the updated version of the Ethereum browser, Metamask  5.0. The main feature of this version includes a privacy mode, through which the dApps will be prompted to seek permission to view a user’s account address.

Tweet by Metamask:

“Today we’re rolling out our new Privacy Mode! At first, it is opt-in, but early next week we plan to make this the new default!”

The main function of Metamask is to help the users interact with all the Ethereum based websites. A JavaScript object name ‘Ethreum Provider’ is added to all the websites the user visits. Ethereum Provider lets the website perform various actions such as propose Ethereum transactions, ask for your signature, query the blockchain, etc.

According to Metamask, the above-mentioned features are not ideal for the privacy of its users. This will also expose the Ethereum address of the user to the public, through which anybody can gain access to the account balance, transaction history etc.

The new feature introduced by Metamask provides improved privacy settings across the Ethereum ecosystem. This update is based on Ethereum’s EIP 1102 [Extended Internet Protocol]. Once the Privacy mode is enabled, all the websites will be forced to seek permission through a popup displayed on the screen.

All the dApps developers are advised to follow the instructions provided by Metamask to stay compatible with the privacy mode. However, this enhancement makes the user’s life easier.

Also, the dApps which are not EIP 1102 complaint will not be working as expected. In this scenario, users must turn off the privacy setting option for better performance of the site.



A blockchain enthusiast on Twitter says:

“Foxxy as hell.”

The Metamask team mentioned:

“Privacy Mode will eventually be the default experience for all MetaMask users.”





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Laira is a full-time writer at AMBCrypto. She is a Computer Science graduate and she has about 1-year experience in writing. Her enthusiasm and keen interest in developing her knowledge about blockchain and cryptocurrency led her to be a part of AMBCrypto. She currently does not hold any value in cryptocurrency or its projects.

Ethereum

Ethereum [ETH] might have caught a break from bears due to formation of ‘Golden Cross’

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Ethereum [ETH] might have caught a break from bears due to formation of 'Golden Cross'
Source: Unsplash

Ether, more commonly known as Ethereum, is the world’s second largest cryptocurrency and it might have turned bullish due to the initiation of the ‘Golden Cross’ in the daily chart. Golden Cross, is when the 50-day simple moving average crosses above the 200-day simple moving average, which indicates that the price has turned bullish and that the cryptocurrency has bottomed.

Source: TradingView

Historically, Ethereum’s last Golden Cross took place in February 2017, when the price of ETH was ~$10; the price after this cross was bumped to $1,600, which was a meteoric rise of 15,000%. As bullish as this sounds, this might not be the good news that the crypto community is hoping for, as the ‘Golden Cross’ isn’t absolute and there are times when the crossover could be a fakeout. Crossover fakeouts had occurred for Bitcoin in 2014.

The weekly chart for Ethereum has been consistently forming higher highs since 2019, which is a bullish indication. The MACD indicator and the RSI indicators are both indicating a steady rise since 2019.

All aboard the ‘Speculation Train’

If another meteoric rise is to be expected from the crypto ecosystem, the price has to undergo a parabolic rise. The price of Ethereum at press time was $174 and had a market cap of $18 billion; assuming approximately 10,000% increase [instead of the 15,000% rise], the price of Ethereum would reach approximately $8,000 by March 2020.



A Reddit user @alkalinegs commented:

“if you look at the last golden cross early 2017 it took a few days till something happend. death cross 2018 even resulted in a bulltrap. -> dont expect an immediate reaction.”

Quite a few people use the exponential moving averages and disagree with the use of Simple Moving Averages, which is opinionated. Another Reddit user, @DeliciousPayDay commented:

“I strongly disagree. SMA 200 is more important and everyone in crypto looks at it. After breaking the 200MA at $151 ETH went straight to $180 before being sold off, and bounced directly off the 200MA the next day turning resistance into support. The 50/200 golden cross just happened on the SMA and the last time that happened ETH went from $12 to $1400.”





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