Connect with us

Ethereum

Ethereum [ETH] Rinkeby Testnet hardfork will land on January 9, 2019, says core developer

Priya

Published

on

Ethereum [ETH] Rinkeby Testnet hardfork will land on January 9, 2019, says core developer
Source: Unsplash

The whole Ethereum community has been engulfed with the upcoming hard fork, Constantinople. The hard fork that was supposed to go live in 2018 is finally going to meet its end. The hard fork is scheduled to take place around January 16, 2019, and will take place on block #7080000.

The team has been working on the hard fork since 2017 and proposes key upgrades to the network. The main Ethereum Improvement Protocol includes the reduction of the block mining reward issuance to 2 ETH and delaying the difficulty bomb for almost 12 months.

As the hard fork is approaching closer, the total clients ready for the upgrade are recorded to be 981, i.e., 12.7% of all clients on the network. At the time of writing, the total number of clients for Geth and Parity were 7709, out of which Geth 1.8.20 clients are 281 and the remaining are Parity 2.1.10+ or 2.2.5+ clients.

Peter Szilagyi, a core developer at Ethereum said:

#Ethereum mainnet Constantinople hardfork (16th of January) is fast approaching. Please make sure you are running Geth 1.8.20+ or Parity 2.1.10+/2.2.5+ to avoid unpleasant surprises!”

Additionally, Peter also announced the schedule for Ethereum Rinkeby on his official Twitter handle. According to an article by Geoff Hayes, Rinkeby is one among the three Testnet of Ethereum, similar to the “production blockchain”. The other two Testnet’s are Ropsten and Kovan. Rinkeby Testnet is a proof-of-authority blockchain, which was initiated by the Geth team to test the upgrade before it goes live on the main chain.

He also said:



“Rinkeby #Ethereum testnet hardfork will land around 13:00 UTC on Wednesday, 9th of January! Last call to update your nodes. Also, please ensure you’re either running with `–rinkeby`, or that you `geth init`-ed your node with the updated genesis spec from rinkeby.io/#geth

Prior to Rinkeby Testnet, the Ropsten Testnet hard fork went live in the month of October 2018. However, there were several issues encountered during the Ropsten Testnet, resulting in the postponement of the Constantinople hard fork on the main chain.

In a post-mortem report, a core developer of Ethereum, Lane Rettig stated that they had discovered a consensus bug in the Parity implementation of Ethereum. He also stated that there were concerns in terms of lack of miners on Parity, Geth or Aleth for Ropsten.



Follow us on Telegram | Twitter | Facebook



Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

Analysis

Ethereum [ETH/USD] Price Analysis: Coin bids adieu to bull market as bears take over

Priya

Published

on

By

Ethereum [ETH/USD] Price Analysis: Coin bids adieu to the bull market as bears take over
Source: Unsplash

Ethereum [ETH], the second largest cryptocurrency by market cap, indicated the presence of both the bull and the bear. According to CoinMarketCap, the cryptocurrency was trading at $136.39 with a market cap of $14.36 billion, at press time. The coin displayed a trading volume of $5.06 billion, and a rise of 1.47 percentage in the past seven days. The coin also dropped by 2.79 percentage in the last 24 hours.

1-hour

Ethereum [ETH] one-hour price chart | Source: Trading View

Ethereum [ETH] one-hour price chart | Source: TradingView

In the one-hour chart, the cryptocurrency demonstrated downtrends from $142.52 to $138.83, and from $138.43 to $134.85. The uptrend for the coin was outlined from $132.91 to $134.49.

The coin’s immediate resistance was pictured at $138.94, and strong resistance was laid at $140.21. The immediate support for the cryptocurrency was found at $132.75, and there was strong support at $130.69.

Parabolic SAR indicated a bullish market for the coin as the dotted lines were below the candlesticks.

Chaikin Money Flow forecast the opposite, as the money flow took the exit route.

Bollinger Bands diverged, suggesting some volatility and price movement for the coin.

1-day

Ethereum [ETH] one-day price chart | Source: Trading View

Ethereum [ETH] one-day price chart | Source: TradingView

In the one-day chart, the downtrends were displayed from $218.66 to $157.56, and further from $157.55 to $138.72. The first uptrend for the currency was drawn from $82.92 to $103.22, while the second extended from $103.22 to $134.41.

The immediate resistance for the cryptocurrency was at $140.53, and strong resistance was at $157.60. The coin’s immediate support was at $125.09, and strong support was seen at $103.13 and $82.79.

Klinger Oscillator showed that the bull was losing out as the reading line was pictured below the signal line after a crossover.

RSI indicated that the buying pressure and selling pressure for the cryptocurrency evened each other out.

MACD forecast the bear’s position to be well ahead of the bull, as the moving average line dipped below the signal line right after a crossover.



Conclusion

The market suggested a strong bearish presence for the cryptocurrency, and a fading bullish presence. This was attributed to the MACD and Klinger Oscillator from the one-day chart, and CMF from one-day chart siding with the bear.

Continue Reading

Ethereum

Ethereum’s [ETH] Vitalik Buterin says ICO boom would have happened regardless of the platform

Priya

Published

on

By

Ethereum's [ETH] Vitalik Buterin says ICO boom would have happened regardless of the platform
Source: Unsplash

Vitalik Buterin, creator of the second largest cryptocurrency and leading smart contract platform, Ethereum [ETH], spoke about the end of the ICO boom, during an Unchained Live event with Laura Shin.

Buterin had previously stated that the next bull run, unlike the earlier one, was going to be built on the application of technology, instead of hype. During the event, Laura asked Vitalik about the end of ICO mania, considering the “fact that a large part” of Ethereum’s success was because of the ICO craze.

Buterin agreed that it was “definitely true” to an extent, adding that the ICO boom would have happened regardless of the platform. He further stated that projects such as Mastercoin were built on Bitcoin, before the launch of Ethereum. He said,



“There were all these other projects that were launching and they were using Bitcoin base that second layers dp. I feel like that boom would have happened regardless of what platform it ultimately would have happened on.”

This was followed by Buterin stating that it was a “complex situation,” due to factors associated with costs and benefits. Nonetheless, he added that one of the biggest benefits was that a lot of interesting projects were getting funded. He added,

“[…] and you know there’s a lot of big Ethereum projects that had token sales. There’s a lot of projects that did not have token sales, but had tokens that launched in other ways, Maker being one example. The fact that they have money for development is, I think, just a good and useful thing.”

He also spoke about the downside of the ICO market, and remarked that it was “definitely one of the biggest costs.” He said,

“Yeah there’s a bunch of stuff that I’m like apparently an advisor for and there are my 10,000 Instagram accounts.  They’re all scams there yeah and are very unfortunate things. If there were magical ones which could have like shut them all down, that probably would have been better, but the magic ones don’t exist.”

Continue Reading

Trending