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Ethereum [ETH] bringing in solutions to blockchains’ scalability problem

Prerana Sarkar

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Ethereum [ETH] bringing in solutions to blockchains’ scalability problem
Source: Pixabay

The scalability issues with Ethereum have been a prolonged issue in the Blockchain community. Vitalik Buterin, the Co-Founder of Ethereum has brought about a new addition to the Ethereum community with the Liquidity.Network which is an emerging off-blockchain payment hub network.

Back in April this year, Buterin tweeted saying:

“Network of centralized payment hubs, routing easy because there’s a relatively small number of them with relatively static relationships,” which is exactly what they are seeking to achieve where the network is resilient to blockchain congestion.

Arthur Gervais, the Founder of Liquidity Network who is also a blockchain professor at Imperial College, London, is working towards solving the scalability issue which occurs to be a predominant issue in the blockchain community. Thus, it brings about more efficiency in the blockchain eco-system.

As we know that Blockchain communities like Bitcoin and Ethereum do not allow thousands of transactions per second which in return results in a slower process time that eventually stalls the progress of these blockchain networks.

The second issue with Ethereum and other dominant cryptocurrencies is the high transaction fees which make micropayments a difficult task alongside its high expense.

The third issue is with locked-up collateral that users are not happy about. Therefore, when it comes to a two-party payment channel, it allows more users to interact with one another in terms of their funds which significantly help reducing transaction costs allowing more transparency throughout the network.

‘Liquidity.Network‘ launched their mobile app at the recent EDCON in Toronto. The Liquidity platform does not have any joining fee and is free.

This network allows users with bi-directional transfers of Ethereum, which means you can transfer funds instantly with more security and low cost. This off-chain payment channel increases the transaction possibilities in the Ethereum forum.

The network also plans on launching a decentralized exchange in the upcoming Q3 2018. With more and more scalability issues in the Blockchain community, users are looking forward to networks like these, which promise to bring about major solutions to the scalability issues

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Prerana Sarkar is a part of AMBCrypto's News Reporting Team from January 2018. She is a Journalism major from Mount Carmel with two years of writing experience in Bitcoin and Blockchain related articles. Prerana does not hold any value in cryptocurrency or its projects

Ethereum

Pokémon game released on Ethereum [ETH] blockchain!

Anirudh VK

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Pokemon game released on Ethereum [ETH] blockchain!
Source: Unsplash

A version of the Pokémon games has been built on the Ethereum blockchain. The game uses Ethereum’s smart contracts to store the ownership of Pokémon in the game.

The game features random encounters as a way for the players to capture Pokémon. The Pokémon will be captured with Pokeballs. The Pokeballs have to be bought in the in-game store with Ethereum, with a starting price of 0.005 ETH for the basic ball, going all the way up to 0.15 ETH for a ball that is guaranteed to capture the Pokemon.

The game has support for a marketplace, where players can trade different Pokémon for Ethereum. Every Pokémon captured in the game is unique from each other. These Pokémon are hence a form of a crypto-collectable, a non-fungible digital asset characterized by digital scarcity.

The aim of the game is to fill the player’s Pokedex by capturing all the 151 different type of Pokémon present in the game. The first person to capture 150 Pokémon will be awarded an opportunity to capture the rare Pokemon Mew, of which there is only one copy. Once this is done, the players can then fight against each other in a “Battle Island”.

The developers also mentioned that they would be releasing rare Pokémon at announced events. They said:

“…we will create specific events to announce the release of those legendary Pokémon. Those Pokémon will be really rare, there will be only 3-5 entities of them available in the game.”

The developers also mentioned that they wouldn’t be making the contents of the smart contract public, as it might have negative consequences on the game. They said:

“We understand that a public contract is important to build trust among players but we fear that publishing the contract could damage some parts of the gameplay.”

They also mentioned that they had plans of making it public after the game is popular, saying that they would work with some other blockchain game developers to build their own game on top of the existing game.

Some users, however, were worried about copyright infringements. User DNiceM said to these:

“Guess the Pokemon Company will now have to run a 51% attack on the network :/”

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Bitcoin

Bitcoin [BTC] flash drops to $7600, BCH below $1K, ETH below $600 and XRP at 59 cents

Kajal Bangera

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Bitcoin market crashing down
Source: Wikimedia

In a span of 20 minutes Bitcoin [BTC] flash dropped from happily trading at $7900 down to $7625 at press time, losing nearly 3.2% in under an hour.

Ethereum [ETH], Bitcoin Cash [BCH], Ripple [XRP] and virtually the entire market got pulled down with Bitcoin with the biggest loser being Bitcoin Cash [BCH] which has lost nearly 20% over the past week.

Bitcoin flash drops to $7600

Bitcoin flash drops to $7600

Experts analysts and influencers have been predicting a bull run since the past month and many saying that Coindesk’s Consensus could be the potential catalyst in the next bull run. Thomas Lee has been the biggest public advocate and brand ambassador of the next “bull run”

With the current drop, many argue the potential of Bitcoin breaking below $7500 and heading down to $6900, its previously held strong position.

Dheeraj Ravindran a Bitcoin trader says,

“Data from multiple exchanges show huge buying volumes present below the $7500 price point, it is highly unlikely Bitcoin would break that unless a whale probably sold all his coins which could then push the prices down much lower than we are all prepared to take in”

Ethereum drops below $600

Ethereum drops below $600

This current drop has baffled many investors like Luke Thomas who believes there is no media hype around this to push prices down so much.

Luke says,

“I’m really surprised by the way it is dropping, this is what you expect when the old Mr. Warren Buffet says something negative, maybe a whale just dumped all his portfolio. Ahh, when will this end?”

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