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December 2020 showed strong network activity

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Each month we dive into on-chain data to explore interesting trends or movements on the Bitcoin network. (Table 2)

Table 2: Bitcoin network activity — December vs November

Strong network activity in December 2020

Table 3: Bitcoin mining metrics — December vs November

The hash rate, an essential component for network security

Back in June, we created a bitcoin security metric called the Market Value Adjusted Network Security (MVANS) indicator, which is the ratio of the market value and the estimated hash rate.

At a given market cap, the more hashing power the more secure the network is; and at a given hash rate, an increase in market makes the market more valuable and arguably more attractive to attacks.

In other words, the lower MVANS the ratio, the more secure the network is.

Figure 1 shows that the network has become less secure with the market value increasing faster than the hash rate. However, the network went through the previous bull run without attacks even though MVANS was at least 5 times higher.

Figure 1 : An increasing MVANS, even though the network is still relatively secure.

Figure 2 : MVRV reaching extreme level

We have also observed that the Network Value to Realised Value (MVRV) ratio is approaching levels seen during the 2017 bull run. The network value, also known as the market cap, evaluates each bitcoin with the current price, whereas the realised value takes the price when it last moved. We are currently at a ratio of 3.5. At the top of the 2017 blowoff bull cycle the number was 4.5; a value that would put BTC at $45,000. However, as more and more BTC is bought by new entrants and moved off exchanges it will raise the denominator of this ratio, pushing the MVRV metric down.

In other words, if extremeness of sentiment is measured as the value of the asset class relative to its historic cost basis, we are definitely entering the extreme phase. However, current market dynamics are significantly different this time given the global economic crisis and various political developments.

Source: https://medium.com/blockchain/december-2020-showed-strong-network-activity-27b8ec99d763?source=rss—-8ac49aa8fe03—4

Blockchain

SOLANAX Private Sale Is On For The Cross-Chain DEX

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[PRESS RELEASE – Please Read Disclaimer]

The cryptocurrency market has left people wondering about the long-term growth prospects and which cryptocurrency they should invest in. Solanax is an automated market maker (AMM) based on the Solana blockchain, which is set to be a game-changer in the cryptocurrency world.

The SolanaX Platform

After parsing through their team of professionals, whitepapers, their project plans, and unique platform capabilities, there is no doubt that once the platform is up and running in full swing, it will undoubtedly change the way people transact today with its simple interface for the public to trade at a record higher blockchain speed and lower gas fees.

  • There are no time-consuming processes or intermediaries.
  • It offers a very simple interface and lower gas fees while initiating the transactions.
  • Solanax increases blockchain speed and makes it more convenient to transact than its peers in the cryptocurrency market.
  • As Solanax is based on Solana’s Proof-of-History verification concept rather than a Proof-of-Work system (as that of Ethereum’s), it will enable users to leverage Solanax’s phenomenal transaction capabilities (Solanax to handle thousands of transactions in a second as compared to Ethereum’s 15).
  • The most crucial part is that while speeding up blockchain transactions and lowering gas prices, Solanax does not compromise on the security aspect.

The Ongoing Private Sale Of Solanax

Solana blockchain is substantially faster compared to its peers, and the ongoing private sale is an opportunity for crypto enthusiasts and investors to participate in this game-changer prospect.

The private sale is still ongoing until Friday, 25th June.

Total Supply: 80 000 000 SOLD Tokens

There will be 20 Million SOLD Tokens distributed before the CEX listing.

Private Sale: Total available token supply – 10,000,000 SOLD

Period: From 06/06/2021 to 25/06/2021

Token Price: $0.1 with a 3months vesting period

Token Price: $0.15 w/o vesting period

Initial Exchange Offering: Total available supply – 10,000,000 SOLD

Final Words

Solanax aims to revolutionize the DeFi exchange network and enhance efficiency levels to new highs. With DeFi gaining popularity, there is an urgent need for the industry to look beyond the older cryptocurrency platforms like Bitcoin and Ethereum. The sluggish transaction speed is one of the prime reasons for Solanax not preferring the Ethereum-like platforms. Besides, Solanax, with its high blockchain speed, simple interface, and low gas fees, is truly a game-changer for crypto aficionados, and Solanax’s Ongoing Private Sale presents the perfect investment opportunity for investors.

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Source: https://cryptopotato.com/solanax-private-sale-is-on-for-the-cross-chain-dex/

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Blockchain

Ethernity CLOUD: Data Confidentiality Backed By Blockchain

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[Featured Content]

It goes without saying that data confidentiality is one of the hottest topics of the decade. From mega scandals of leaked information to a constant stream of news about large corporations being victims of ransomware, there’s undeniably something lacking in the way data is stored traditionally. For the most part, at least.

The truth is that most users rely on traditional cloud infrastructure. Unfortunately, it has many central points of failure and trust, such as:

  • The centralized nature of the Domain Name System (DNS)
  • The dependency on one or numerous cloud providers for service availability
  • Centralized storage of user information

Blockchain technology and cryptography are quickly becoming a topic that many discuss mainly for its potential to disrupt a range of traditional services – data storage and cloud computing are among them.

Etherenity CLOUD is a project that envisions cloud computing infrastructure to be an environment where the data of users is hosted on a range of systems in a manner that’s both confidential and heavily encrypted. From home computers to professional-grade datacenters, any kind of hardware could be used with Ethernity CLOUD and trust that the information is private while in transition and in general.

EthernityCloud2

Ethernity CLOUD: What is it all about?

If one thing is clear, it’s that centralized data servers have become a primary target for hackers. Less than two weeks ago, CryptoPotato reported that JBS – the world’s largest meat producer, paid $11 million in Bitcoin to ransomware hackers who successfully locked the company out of their data.

Ethernity CLOUD’s infrastructure software is created on top of open-source services and technologies, and the migration from standard, centralized cloud providers to it is relatively simple. This comes as a difference to other decentralized hosting solutions, which tend to be rather complex in their attempts to reinvent the wheel.

The main purpose of the project is to provide blockchain infrastructure to participants so they can run cloud software in a decentralized manner, to rent out their idle or extra hardware, and so forth – all this while also providing incentives for decentralized cloud application developers.

Data Confidentiality and Encryption

Ethernity CLOUD’s architecture is designed in a way to favor the most secure encryption and hashing algorithms. At the same time, it keeps the overhead low in order to prevent performance degradation.

The information that’s being exchanged across the network is encrypted, and the ecosystem is designed in a way that prevents the decryption of information in transit, even with the most advanced cryptographic attacks, including brute forcing and collusion.

Naturally, the encryption of the data at rest is also equally important to Ethernity CLOUD, and it was designed on a trustless business model. The information is stored across the network. However, decentralized cloud service providers are unable to access, read, modify, or even interfere in any way with the node that runs on their machine.

Members of the network, by default, are considered untrustworthy – as it is with other blockchain networks. The software code enforces and ensures the trust, which reassures the decentralized cloud users about the safety of their data.

In turn, all of the above provides ground for the following benefits:

  • Ethernity CLOUD is crucial for freedom of speech in the current internet environment where censorship is prevalent.
  • It can be used as a base infrastructure for an online library.
  • It can be the answer to competitive decentralized services or web applications that demand high availability.
  • Can guarantee high availability of online resources through avoiding single points of failure.
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Source: https://cryptopotato.com/ethernity-cloud-data-confidentiality-backed-by-blockchain/

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Blockchain

Euro 2020: Earn As You Watch

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Over the years, the European Championship has always been an exciting competition to look forward to for fans of competing nations and football lovers worldwide. There is the assurance of highly entertaining, unforgettable, and thrilling games as different countries compete for continental glory.

Euro 2020 has undoubtedly met expectations and fulfilled some of those promises, with so much more in the bag as the competition progresses, nearing the knockout stages. Teams like England, Italy, Netherlands, Denmark, Austria, Wales, and Belgium have booked their spots in the next stage, while France, Portugal, Germany, and Spain, known favorites, are yet to qualify.

Building on an impressive run of games under Roberto Mancini, Italy has a flawless run as they top their group with perfect stats. The Netherlands also has an excellent record as they pose a force to reckon with in this edition of the competition.

Belgium also showed class by maintaining a perfect record in the group stage, while Denmark, Austria, and Wales took advantage to book their spots in the next phase of the competition.

As the Euro draws near its most intense, dramatic, and thrilling peak, 1xBit, a leading crypto sportsbook and online casino, has a well-packaged competition, which is on the same plane of intensity as Euro 2020, for all viewers and sports lovers alike.

This competition is EUROMANIA. It is as fun as the name suggests. More importantly, it is highly rewarding!

1xBit EUROMANIA Competition

1xBit EUROMANIA lottery is a carefully designed competition for football lovers and viewers of Euro 2020. As the competition has its favorites, so does EUROMANIA. Many people have significantly benefited from this competition, so you should not be left out, as there are tremendous and handsome prizes yet to be won.

Additionally, this lottery is different from any other you have seen before because joining it allows you to earn crypto as you bet on the Euro. There are various sporting events, vast selection options, and mouth-watering odds.

The steps to joining are simple and direct. Log on to 1xBit, create an account, make a deposit, bet on the Euro, collect lottery tickets and win amazing prizes!

Benefits of Choosing 1xBit

1xBit is a unique betting platform distinct from others because it offers users a fantastic chance of receiving so many benefits. These benefits include:

  • Welcoming Bonus: As a new user, you get the opportunity of earning yourself a reward of 7 BTC as a welcome bonus. This reward is activated after your 4th deposit on the platform.
  • Anonymity: This is yet another benefit you enjoy using the platform. 1xBit does not require any personal information to get started.
  • Instant Payout: You get the chance to have your account funded as soon as you win. No time is wasted in processing your funds as you get them instantly.
  • Multi-currency Account: Whether you have Bitcoin, ETH, XRP, or any other supported altcoin, there is nothing to worry about as you can transact using any of this cryptocurrency.

Enjoy Euro 2020, bet, and win crypto!

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Source: https://cryptopotato.com/euro-2020-earn-as-you-watch/

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