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Ethereum 2.0 is Here. Is Now The Time To Buy ETH?

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What if, when the digital age was in its beginning stage, you could have invested in the internet itself? How much would an early investment in such technology be worth today? Ethereum’s price has been increasing significantly, is now the time to invest in Ethereum? 

Ethereum aims to be the basis of all things blockchain, building its infrastructure to have the capacity to underpin everything from finance to digital identity and energy distribution. As more businesses see the value of blockchain technology and begin to switch over their systems to blockchain solutions, Ethereum is the leading option to build those solutions on 

Already, companies like J.P. Morgan Chase, along with a host of others, have chosen Ethereum as their network of choice for proprietary blockchain projects. Critics of Ethereum have pointed out its original version’s limitations – that it can be slow, expensive, and incapable of handling high network traffic. However, this is where the long-awaited Ethereum 2.0 comes in. 

 

Ethereum 2.0: What’s great about it? 

Ethereum 2.0 includes a series of upgrades that have been a long time in the making. However, Ethereum’s long time frame is in direct proportion to its expected longevity – and the seriousness with which it takes its perceived new role as the next iteration of the internet.  

In short, the major upgrades the network will be getting are adjustments to increase its speed, lower its cost, and increase its security – all things that will be necessary if it intends to take on the role of Web 3. 

 

Faster Ethereum: Sharding 

So how exactly does Ethereum aim to become fasterThrough sharding. 

Sharding breaks up the network into multiple chains that run all at once, working together to confirm transactions. A simpler explanation is this: in the past, Ethereum made sure transactions were correct by causing every validator to check each transaction, and then make sure they all agree. Now, each validator only has to confirm a portion of each transaction, and then they put all their information together to make sure it fits. It’s the equivalent of, rather than having multiple teams do the same work and then check each other’s work, Ethereum 2.0 has all groups work together as a single team to complete the same task. Since each team now only has to focus on one part of the work, transactions can be confirmed much faster.  

Currently, Ethereum confirms about 15 transactions per second. Kick that number up to 100,000 transactions per second, and you’ve got Ethereum 2.0. To put that in perspective, the Visa payment network can process up to 24,000 transactions per second when running at its very best.  

Ethereum 2.0’s increased capability is the equivalent of fiber internet versus cable or dial-up. It essentially has a massive amount more bandwidth, allowing it to handle much higher amounts of network traffic. This means, as more users start signing on to the Ethereum network from all over the globe, Ethereum 2.0 will be still able to operate quickly and seamlessly, regardless of how many people are using it. 

Cheaper Transactions: Proof of Stake

Proof of stake, or PoS, is what most people focus on when they talk about Ethereum’s upgrades. While it’s just one of the new features, it’s an important one for a reason. Proof of stake (PoS) – where validators are given the right to confirm transactions after investing in the network through staking, rather than earning the right via investing time and energy to solve complex mathematical problems – is much cheaper than proof of work 

Because “miners” don’t have to use tons of electrical power to run operations involving huge numbers of specialized devices, PoS is astronomically less resource-intensive to maintain. When validators no longer have to spend large sums to run the network, costs for them come down – and so do costs for users. This is what makes proof of stake so much more appealing financially than proof of work. Meanwhile, because proof of stake is less taxing on the electrical grid, adoption – for businesses and governments alike – is a much easier choice.  

Ethereum 2.0’s proof of stake model not only makes the network cheaper to use for consumers but is also less of a burden on existing infrastructure – all while also being better for the environment. 

 

More Security: Decentralization 

Both of Ethereum 2.0’s main upgrades – Sharding and proof of stake – offer the potential for the network to be more secure. Why? Because as costs to be a validator come down, more people will be able to join the network and help run it.  

Proof of stake lowers the barrier to entry – those who want to join only need to stake their Ethereum rather than invest in expensive mining equipment and pay for huge electric bills. Similarly, sharding means each validator’s workload is drastically reduced, maintaining low costs and ease of use for anyone who runs a node. The more people who join the Ethereum network as validators are important, because the more people who are working together to run the network means fewer points of failure, and greater stability as control of the network is spread out among a large number of participants rather than relying on a few. 

As an investor looking for the next big thing or searching for the company that provides the best product – nothing comes close to Ethereum, and Ethereum 2.0 simply pulls it further ahead of the pack. Ethereum price predictions are massively optimistic because, like any product, Ethereum’s price will increase with demand – and if it fulfills its vision of becoming the bedrock that powers the next internet, there should be quite a lot of demand.  

Want to include this revolutionary investment in your retirement portfolio? We offer the unique opportunity to buy Ethereum as part of your retirement strategy, and coming soon you may earn interest on your ETH. Additionally, unlike traditional accounts, investing in Ethereum through an IRA or 401K can offer major tax advantages when it comes to cryptocurrency returns. Sign up in less than three minutes and let us help you make the most of your crypto investments. 

 

Recommended article: What is Ethereum? 

Source: https://bitcoinira.com/articles/ethereum-2-0-is-here-is-now-the-time-to-buy-eth

Blockchain

Standard Custody takes new route to ‘qualified custodian’ status

It’s the first digital asset firm to receive approval on a de novo application for a New York trust license.

The post Standard Custody takes new route to ‘qualified custodian’ status appeared first on The Block.

Republished by Plato

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Standard Custody received its license to operate as a New York state-chartered trust on May 4, and it’s already making a play to gate-crash the institutional custody space.

Just days after its licensing, the firm announced the close of a $53 million Series B round for its parent firm, PolySign.

Cowen Digital Asset Investment Company led the round with a $25 million strategic investment. The two will also partner, with PolySign providing digital asset custody solutions for Cowen clients through its newly licensed trust arm, Standard Custody. Blockchain.com and Race Capital also participated in the round.

Through Standard Custody, PolySign is looking to fill a gap in the custody space. While many crypto firms are attempting to build all-in-one services, with exchange, brokerage and custody housed under the same roof,  CEO Jack McDonald says Standard Custody plans to differentiate itself by focusing solely on custody-based services for institutions.

Though Standard Custody plans to expand its range of services, McDonald says it will stop short of being an exchange unlike others in the custody space.

“We think that ultimately the institutions that are wading into the space, more and more of the traditional institutional asset managers, are going to want to see a segregation of duties there between exchange activity and custody activity,” he said.

That could mean hedge funds, family offices, endowments and exchanges could make up its client base going forward, but not retail-facing activities. Others serving the retail market have expressed interest in Standard Custody’s services, mostly due to its recent licensure. It’s the first to get approval for a de novo trust application in New York, and that’s positioning it to emerge as a favorable partner for a variety of clients, according to McDonald. 

To build out custody and escrow services, Standard Custody needed to be a qualified custodian. There’s more than one way to gain the distinction, but some fit better than others. To be a qualified custodian, firms can either become a registered broker-dealer with the Financial Industry Regulatory Authority (FINRA), a futures commodities merchant regulated by the Commodities Futures Trading Commission (CFTC) or you can be a federally or state-licensed trust bank.

For firms mainly looking to custody, it makes the most sense to become a trust but it’s recently become unclear how far a trust license extends outside state borders. The Securities and Exchange Commission (SEC) is currently seeking comment on how it should view state-licensed qualified custodians in the wake of a letter from Wyoming’s regulators. On the national level, Congress is still debating how much power the Office of the Comptroller of the Currency (OCC) should have to designate digital asset firms as national trusts and therefore qualified custodians.

Still, a New York trust license from the New York Start Department of Financial Service is the gold standard of state licenses. It’s the highest barrier of the state licensure frameworks, and also has more reciprocity than other states, meaning some other states recognize the New York trust charter and don’t require an additional license. Standard Custody is the first to receive a de novo approval, meaning it’s operating a new business as opposed to converting a previous entity like Gemini and Coinbase. That’s made it more attractive to businesses looking to set up shop in the U.S. without going through onerous regulatory frameworks.

“We do have a lot of interest in our technology from some of the more retail-oriented strategics out there and specifically wanting to tap our capabilities to business in New York and more broadly in the U.S.,” said McDonald.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Source: https://www.theblockcrypto.com/post/104979/standard-custody-qualified-custodian-raise-bank-charter?utm_source=rss&utm_medium=rss

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Blockchain

Chainlink price prediction: Chainlink retests $41, set to move higher?

TL;DR Breakdown LINK tests $44 resistance overnight. Support retested at the $41 level over the past hours. Next support at $40. Today’s Chainlink price prediction is bearish as the market moved lower after setting a lower high around $44. Currently, LINK/USD retests the $41 support, once it is broken, we should see further downside over […]

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TL;DR Breakdown

  • LINK tests $44 resistance overnight.
  • Support retested at the $41 level over the past hours.
  • Next support at $40.

Today’s Chainlink price prediction is bearish as the market moved lower after setting a lower high around $44. Currently, LINK/USD retests the $41 support, once it is broken, we should see further downside over the next 24 hours.

Chainlink price prediction: Chainlink retests $41, set to move higher? 1
Cryptocurrency heat map. Source: Coin360

The overall market trades with mixed results as Bitcoin trades flat around 0 percent, while Ethereum has lost almost 3 percent. Stellar (XLM) is among the best performers with a gain of 5 percent. 

LINK/USD opened at $41.5 after bearish close yesterday set a lower high at $48. Earlier today, another lower high was set around $44.5 after a retest of $41 support. Therefore, the market trades in an increasingly tighter range. Once the range is broken, we will see where the market is headed next week. 

Chainlink price movement in the last 24 hours

The LINK/USD price moved in a range of $41.08 – $44.61, indicating a moderate amount of volatility. 24 trading volume has decreased by 13.92 percent and stands at $2.2 billion. Meanwhile, the total market cap stands at $17.7 billion, ranking the cryptocurrency in 13th place overall.

LINK/USD 4-hour chart – LINK 

On the 4-hour chart, we can see the Chainlink price pushing to break the $41 mark once again. 

Chainlink price prediction: Chainlink retests $41, set to move higher?
LINK/USD 4-hour chart. Source: TradingView

Overall the market continues retracing from the all-time high set around the $53 mark on the 10th of May. The new all-time high was set due to a 70 percent upswing from the previous major support level around $31 set on the 23rd of April. Therefore, we could see similar performance over the upcoming weeks once the Chainlink price stops retracing.

Earlier this week, Chainlink made two separate waves lower, resulting in a total retracement of around 25 percent. The support around the $40-$41 mark has already been retested twice. Therefore, we could see the support break later today as bears continue pushing LINK/USD lower.

Once the support is broken, we could see LINK/USD move towards the next minor support, around $38. From there, the market could potentially start to reverse in a similar way as during the middle of April. 

Alternatively, if a further downside is rejected over the next hours and the $40-$41 support holds, we could see LINK/USD move sideways over the next 24 hours as it prepares a base from which to push higher early next week.  

Chainlink Price Prediction: Conclusion 

Chainlink price prediction is bearish as the market continues trading in a bearish momentum over the past days. Earlier today, another lower high was set around $44.5, indicating that bears are still in control, and we are likely to see LINK move below the $41-$40 support area early next week.

While waiting for further Chainlink price action development, read our latest guides on Litecoin mining software, Ethereum mining pools, as well as Ethereum mining software.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptopolitan.com/chainlink-price-prediction-2021-05-16/

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Blockchain

Solana (SOL) Surges Into Top 15 as Price Breaks $50

Solana (SOL) has climbed into the top 15 following a new all-time high of $52.60

The post Solana (SOL) Surges Into Top 15 as Price Breaks $50 appeared first on BeInCrypto.

Republished by Plato

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Solana (SOL) has climbed into the top 15 following a new all-time high of $52.60

While the weekend saw relatively bearish price action for the majority of the market. SOL managed an impressive gain of over 20% to reach a new all time high. 

The project now sees itself being catapulted into the top 15 spot in terms of market capitalization. With a total market capitalization of $13.6 billion. Not bad considering it started the year priced at a measly $1.51. The recent all-time high now means that SOL has seen a 3,100% gain in 2021 alone. 

Source: Tradingview

Solana had previously been dubbed one of the projects that could potentially kill ethereum,

Solana hackathon commences 

The new all-time high comes off the back of the launch of Solana’s hackathon which began on May 15. The Solana Season Hackathon has attracted over 10,000 registrations to the event. The hackathon is set to run from May 15 to June 7. The event is offering up to $1 million in global prizes and seed funding for participants, including an all-star lineup of speakers. 

Solana has seen rapid growth within the crypto space in 2021. Having launched late in 2020, the project is now vying for a top ten spot after moving swiftly into the top 15. 

Solana is described on its website as “a fast, secure, and censorship resistant blockchain providing the open infrastructure required for global adoption”.

The project has already implemented key features to its ecosystem, including decentralized finance (DeFi) capabilities, non-fungible tokens (NFT), and a decentralized exchange (DEX). 

Price analysis

Previous analysis from BeInCrypto suggested that SOL was one of May’s top altcoins to watch. With technical analysis indicating the project could climb to suggested targets of $60 and possibly $68 in the future. 

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Ryan is a Fintech specialist with a passion for cryptocurrencies and blockchain adoption. He discovered Bitcoin in 2016 when investing in a Ponzi scheme, and it was the best decision he ever made.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://beincrypto.com/solana-sol-surges-into-top-15-as-price-breaks-50/

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