In a recent meeting, Ethereum developers have been debating about the most important upgrades to the network: Sharding and Casper. The meeting known as Ethereum Core Devs meeting #40, took place on June the 15th and left some important things that are worth mentioning.
Ethereum Sharding and Casper Development
The key point of the meeting was to re-schedule the releases of the two important Ethereum upgrades, Casper and Sharding. The new proposal suggests that Casper could be released on a shard, or a side chain, which is totally different from the idea of releasing it using a smart contract.
Sharding is a scaling solution that has been presented by Vitalik Buterin back in April. This improvement would allow nodes to store just a small part of the distributed registry. But for example, each node is able to rely on the information of others.
Casper, instead, was first published in October 2017. It is a proof of stake (PoS)-based finality system that aims to solve the ‘questions of economic finality through validator deposits and crypto-economic incentives.’
Buterin explained about it:“The Casper component is somewhat more separate from the main chain. That means it can be developed less intrusively in some ways, it can be developed as a separate chain and can have its own rules.”
On the latest proposal, the Ethereum network would be using PoW with a PoS consensus mechanism. The main goal in the future is transition to a full PoS system.
Vitalik has also said that with the re-schedule of the upgrades would help reduce the deposit amount required to participate in securing the network. It would require 32 ETH instead of 1,500 ETH.
The second most important network in the market, Ethereum is trying to improve and scale with these two solutions. But it is also important to mention that Bitcoin developers are also working in an off-chain scaling proposal for the most important crypto in the market. The so called Lightning Network could be launched to the market during this year.
TRON (TRX) Long-Term Price Forecast- February 17
TRX/USD Long-term Trend: Ranging
Supply zone: $0.0400, $0.05000, $0.0600
Demand zone: $0.01000, $0.00800, $0.00600
Tron long-term outlook remains in a range-bond market. The bears return predicted in last week analysis remained strong within the range. The two EMAs were broken as the bears continue the downward journey.
TRXUSD dropped initially to $0.02448 and later to $0.02360 in the demand area. This was the low of the week on 14th February.
With price below the two EMAs crossover and the stochastic oscillator signal in the oversold region pointing up at 8%. It suggests a minor push to the upside before downtrend continuation within the range.
TRXUSD is in consolidation and trading between $0.02881 in the upper supply area and at $0.02142 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area followed by a retest may occur hence patience is required to allow this to happen before a position is taken.
Bitcoin [BTC/USD] Price Analysis: Sideways trend resumes as bears suck volatility out of the market
Bitcoin has been moving stagnantly in a sideways fashion for over a week now, ever since its short-term pump on 8 February 2019.
The price of Bitcoin, at press time, was at $3,576 with a market cap of $63 billion. The 24-hour trading volume of Bitcoin is at $5.89 billion, and most of the trading volume for Bitcoin is coming from BitMEX by trading BTC perpetual contracts against the US Dollar.
The Parabolic SAR markers have spawned below the price candles, pushing the price upwards in line with a bullish trend.
The MACD indicator shows a bullish crossover as the MACD and the signal lines have crossed each other and are headed up.
The Relative Strength Index is slightly above the 50-line but below the 60-line. This indicates that the buying momentum is increasing for Bitcoin.
The Aroon indicator shows a further decline of the uptrend which was due to the recent short-term rally that occurred during the second week of February.
The Stochastic indicator is showing a bearish crossover in which, the Stochastic line and the signal line are both moving downwards.
The Chaikin Money Flow reads above the zero mark and indicates a decrease in the momentum of buyers i.e., the buyers getting exhausted while simultaneously the sellers gaining momentum.
The one-hour chart for BTC shows a relatively positive outlook as indicated and confirmed by the MACD, SAR and the RSI indicators. However, the longer time frame indicates a completely opposite trend for Bitcoin i.e., bearish trend, as indicated by the Aroon, Stochastic, and CMF indicators.
Galaxy Digital’s Novogratz: Bitcoin Is “Going To Be Digital Gold”, Talks Sovereignty And Periodic Table Elements
Galaxy Digital Founder Believes That Bitcoin Is “Going To Be Digital Gold”
Mike Novogratz is known for his former work on Wall Street with Goldman Sachs, but he has since made a name for himself in the cryptocurrency industry with the crypto merchant bank Galaxy Digital. Recently, he sat down with Bloomberg TV for an interview, during which time he spoke on the spread of crypto assets and how Bitcoin remains the top coin.
The interviewer started off with commenting that “it was carnage” in cryptocurrency, asking if the industry is in the “birthplace of recovery in crypto.” That opened the door to talk about exactly how government decisions and the lack of institutional investors have truly been the hold-up.
As the attention turned to the crypto winter, Novogratz commented that this whole year has been an example of “just how painful popped bubbles can be.” Considering how the retail sector has settled down and the inflation of crypto values has balanced out, the industry is likely to go from “a people’s revolution to an institution-led one.”
Discussing the way that crypto assets have evolved, Novogratz acknowledged that there are many altcoins that have tried to go head-to-head with Bitcoin as a store of value. He added,
“There are 118 elements on the periodic table, and only one gold […] Bitcoin is going to be digital gold, a place where you have sovereign money, it’s not U.S. money, it’s not Chinese money, it’s sovereign. Sovereignty costs a lot, it should.”
Even though there was not a discussion on why Bitcoin has been able to take the center stage, Novogratz said that all cryptocurrencies do not need the use of blockchain to thrive. From a security standpoint, cryptocurrencies without the same value and traditional roles could help to offer gains.
Bitcoin, for now, is holding steady between $3,400 to $3,600, though Novogratz believes that this is presently the bottom, leaving plenty of room to increase. He said that the most realistic and achievable medium-term price point is $8,000, adding, “We’re not going to bubble back up.”
The structure necessary to welcome and entice institutional investors into the space is finally coming to fruition, Novogratz adds. Even though the government shutdown slowed it down, the solutions being offered from major companies like the New York Stock Exchange and Fidelity show that the increase of institutional investors “is just getting started,” he said.
Even though traditional institutions are starting to get involved with the crypto industry, existing exchanges and services are bringing custody solutions to the table as well. Big Four auditor KPMG also seems to agree with the stance of Novogratz, saying that institutionalization is “a necessary next step for crypto to create trust and scale.”