On 3rd October, Prysmatic Labs, a team of developers committed to scaling Ethereum [ETH], announced the release of the first demo version of their Ethereum 2.0 Shasper [Sharding plus Casper] project, Prysm. In a Medium post, the team briefly explained the features included in the release and the roadmap for the future.
The announcement read:
“We are proud to announce our very first release of Prysm, v0.0.0, which will serve as the building block for all future releases as we get to production.”
Prysmatic Labs began their work on Ethereum 2.0 at the end of 2017 when Vitalik Buterin, the Co-Founder of Ethereum unveiled his vision for the next-generation Ethereum. Buterin addressed issues in the Ethereum blockchain and presented solutions for the future. The Co-Founder also began a thread on Ethereum’s official GitHub where all developers got together to tackle issues regarding the concept of sharding.
The team stated that this version will serve as a platform for a production-oriented release that is written in the Go programming language. Through this release, the team hopes to set a standard for the developments of ETH2.0.
They also explained why the release was being called “v0.0.0” instead of “v0.0.1.” They said:
“There is still work to be done with respect to wrapping up Phase 0 of Shasper, but we wanted to give the community a taste of what a real client will look like.”
Version 0.0.0 includes a basic beacon chain with a validator demo. The beacon chain along with the validator demo will be able to sign up a beacon chain node from a genesis configuration. A validator client can be connected to the beacon node through a Remote Procedure Call [RPC].
Furthermore, they stated that the version includes a Casper FFG reward/penalty mechanism. It also includes a basic, locally networked P2P [Peer to Peer]. The version comes embedded with a simulator of beacon blocks. The locally networked P2P can be used to sync the incoming block of the beacon chain.
Moreover, the team stated that the release includes a popularly used scalable build system known as Bazel. Industry giants like Google, Pinterest, Dropbox also use Bazel.
Along with the above-mentioned features, many others have been integrated with this release. Although many features have been embedded in the demo, the team stated that features like the validator rotation, withdrawals, dynasty transitions, and several others have not been included.
Future releases will include work on the randomness generation and signature aggregation on the beacon chain and validator rotation, they added.
Displaying his interest in seeing how the demo works, Vitalik Buterin, tweeted:
“Excited to be trying out
@prylabs’s first PoC”
Responding to Buterin’s tweet, Raul Jordan developer at PryLabs said:
“Try adding ‘–verbosity debug’ to the beacon chain to see what it’s doing underneath the hood.”
Ethereum [ETH/USD] Technical Analysis: Trend reversal expected as bull attempts to overpower bear
As the bear rule moves ahead in its journey in the cryptocurrency market, Ethereum [ETH], like its fellow mates, also dipped in red. At press time, the token slumped by 3.25% wherein it was trading at $89 with a market cap of $9.24 billion. The 24-hour trading volume was calculated at $1.72 billion.
In this scenario of Ether candlesticks, the downtrend is stretching from $96.8 to $87.3 whereas the support level is set at $82.8. As of now, a possibility of trend breakout in the price is not apparent due to the absence of price-concentration.
The Parabolic SAR is clearly bullish on the cryptocurrency. This is visible as the dots have assembled themselves below the candlesticks to depict support for the price trend from falling.
The Aroon indicator is neutral on the matter as the green trend is also crashing, following the downtrend. However, the uptrend is still relatively stronger than the downtrend on the graph.
The MACD has made a bullish crossover to side with the bull. To confirm the stance, the reading line is traveling above the signal and moving gradually upwards.
In the one-day chart. it can be observed that the token has been devalued multiple times since July. The first downtrend is extending from $466 to $210 whereas the second one is ranging from $209 all the way down to $93. Here, the long-term support is set at $183, after which, the coin breached multiple supports and continues to do so.
The Bollinger Bands have contracted from its previous stance of high volatility. The bands are following a tunnel-pattern, still giving a fair amount of space for the market to fluctuate.
The RSI has been running in the oversold zone for almost a month now. A trend reversal is expected anytime. However, the indicator is bearish on Ether at present.
The Klinger Oscillator is bullish on the cryptocurrency as the reading line made a positive crossover by the signal. It is headed upwards in favor of the bull rule.
In the technical analysis, the majority of indicators are bullish on Ethereum and indicative of a trend reversal as ETH continues to swim in red. A certain degree of volatility is expected in the market as suggested by the Bollinger Bands.
Winklevoss Twins launch new app; say they are “at home” with the crypto-winter
Even though the cryptocurrency market has been brutal and tough, the well-known Winklevoss twins think otherwise with their new application which allows users to buy Bitcoin [BTC] and other virtual currencies.
Earlier today, Cameron Winklevoss published a blog in which he talks about the new app which is up and running on Google Play and App Store. The app allows purchase of Gemini’s five cryptocurrencies. The app also includes Know-Your-Customer [KYC] with facial scanning and other biometric proofs in order to comply with the AML laws and avoid money laundering.
Tyler and Cameron Winklevoss are very bullish on the future of Bitcoin and instead of HODLing and waiting for a bull run, they said that they were working on making the ecosystem better. They also added that they had recently employed new Park Avenue offices.
The mobile comes as a new way to face the crypto-verse after getting their ETFs rejected by the U.S. Securities and Exchange Commission [SEC] multiple times.
The twins said that they were right at home with the crypto-winter and Cameron added that “We can weather this downturn”.
Apart from the mobile app, the twins have also launched an investment fund in the mobile app that consists of multiple cryptocurrencies like Bitcoin [BTC], Ethereum [ETH], Litecoin [LTC], Zcash [ZEC], and Bitcoin Cash [BCH].
All of the above-mentioned cryptocurrencies are added to their listings only after a thorough approval from the New York Department of Financial Services [NYDFS].
“For many years when we were building Gemini, price wasn’t a thing. Bitcoin was a $200 coin. Then, last year is actually an anomaly, and almost, you could argue, a distraction.”
Unlike Coinbase’s or Kraken’s mobile apps, Gemini has been targeting institutional investors by building financial infrastructures.
The decision by the twins comes in the bear market that has sliced off a large chunk of the market cap from most of the cryptocurrencies.
Bitcoin, the largest cryptocurrencies has witnessed a collapse of 82% since its all-time high and the market cap of all the cryptocurrencies which was $200 billion short of reaching $1 trillion dollar mark. However, the brutal bear market of 2018 has caused the overall market cap to slide down to a mere $107.84 billion.
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