Charles Hoskinson, the Founder of Cardano and the Co-Founder of Ethereum spoke about the inception of Ethereum and his role in the project, during a conversation with Mpho Dadaga.
Charles said that if the team had anticipated that Ethereum would become the second biggest cryptocurrency in the market, then the team would have planned things out. He said that they had realised that they had something very substantial towards the end of the Bitcoin conference in Miami.
“So, we got Vitalik… his presentation was really swarmed. Like a rock star… he kind of had a second tier speaking slot and he goes on and they only gave him 25 minutes. He says, let me introduce Ethereum. He put this thing on the slide, shows you how you can do master coin and 20 lines of code and then 13 lines of code or something like that”
Charles continued to say:
“And then he [Vitalik] says, any questions? everybody in the room raises their hands. And I felt so bad for the speaker that had to follow them because they had only time for like 3 minutes of questions. So when Vitalik left, everybody just left the room and the speaker comes up there and the room is empty.”
This eventually led to the creation of two groups in the Ethereum team, one being the business group and the other being the technical group. The business group members were Joseph Lubin and Anthony Di Lorio. The technical group members were Vitalik Buterin and Gavin Wood. Charles Hoskinson along with Mihai Alisie managed both the group of Ethereum.
Charles continued to say that in the beginning, they had two options on how to build the project. The first option was to do what Ripple did and have a profit company, venture capital, funding type hierarchy, very disciplined and focused, like a Silicon Valley startup. The second option was to create a non-profit company and issue a crowdfund and use the funds to build the protocol. The team called the options as crypto-Google and crypto-Mozilla.
According to him, the business group of Ethereum preferred the crypto-Google option which was opposed by the technical group because they thought it would compromise the integrity of the project.
However, Charles was concerned that if there was no proper structure then the whole project would probably burn through its capital soon and have a lot of problems. This resulted in a meet up held in the month of June 2014, where Vitalik decided to choose crypto-Mozilla, a non-profit company.
This was followed by Charles leaving the team after some time, after which few other members including Anthony went on their own paths. He said that this was the right decision to make at that time. According to Charles, Ethereum lost almost $9 million out of the $18 million they had raised because of the Bitcoin collapse, which went down from $600 to $250. Furthermore, the team spent the other $9 million in launching their project.
Binance to Undergo an 8 Hr Scheduled System Upgrade on the 14th of November
The team at Binance has notified loyal users of the platform that they will be performing an 8 hour system upgrade on the 14th of November, 2018. The exact time of the upgrade has been noted as being 2 AM (UTC).
According to the announcement, all deposits, withdrawals and trading will be suspended during the system upgrade. The team also went on to advise its users that the 8 hour time-frame is an estimate, but they will be in constant communication during the time period.
Binance mobile apps nows have notifications. Download the latest version if you haven't already. We will be testing it during this next upgrade. Now you don't have to follow my boring tweets if you don't want to. More choices. https://t.co/0zRlpZpAb0
— CZ Binance (@cz_binance) November 13, 2018
Binance Opens its Doors to Institutional Investors
The news of a system upgrade comes only days after the exchange announced that it was opening its doors to institutional investors. The system upgrade might, therefore, be needed to implement new features and services on the exchange.
The exchange had promised to carry out the following in a bid to welcome its new client base of institutional investors:
- To continue building the technology required to provide the highest level of security, reliability and liquidity on its platform
- Quality selection of tradable tokens and coins
- Services catered specifically for high volume traders such as its tiered trading fee discount program
- Increased support for corporate accounts including customization of API and withdrawal limits
- Creating a new division known as Binance Research
Also to note is that Binance also has many impressive features and services for regular individual traders. The exchange also has an above average customer care record with its individual clients. This can be seen with the early notifications on system upgrades as well as the SAFU program (Secure Asset Fund for Users).
SAFU was created to protect the exchange’s users and their funds in extreme times.
Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.
Coinbase market influence: Stellar and Cardano pumping on listings hope
Last weekend was a pretty dull weekend of exchange for the cryptocurrency market with a majority of coins recording depreciating prices across the crypto-board. Following the dismal performances that were experienced throughout the weekend by digital assets, the entire crypto market has depreciated by around 1.8 percent to stand at about $211 billion according to CoinMarketCap currently.
The Dismal Performance of Crypto Market
For the past few days, the crypto market has been experiencing a shortage of crypto news that is generally used to guide prices forcing investors and merchants to rely more on technical analysis.
And with many digital assets trading close to their resistance levels, the prices of these assets have been coming under pressure as the number of people selling them is exceeding those who are willing to buy them.
While that was the scenario for the two leading cryptocurrencies, Bitcoin and Ethereum, Stellar Lumens and Cardano (ADA)have been showing dissimilar trends. The two altcoins have been bullish defying the recent market declines that have been bedeviling the crypto market by surging upwards over the last few weeks.
— Umesh Khade (@UmeshKhade11) November 13, 2018
The two altcoins have been so defiant on the recent market declines to the extent of Stellar (XLM) appreciating so much that it has now joined the list of the top five cryptocurrencies in the world at the expense of EOS. Stellar (XLM) has appreciated by over 23% since this time last month following the news breakout that it was being considered as a possible addition to the leading crypto exchange, Coinbase, along with Cardano (ADA).
From the look of things, it appears that merchants are investing in Stellar and Cardano with the hope that the two altcoins are going to be added to the Coinbase exchange, an action that is sure to drive the demand and prices of the digital assets in question. However, for now, here is how the two cryptocurrencies and others have been performing for the past seven days.
Stellar Lumen (XLM) Technical Analysis
From the look of the things, there is no doubt that Stellar Lumen has been having a great run leading the pack of most improved cryptocurrencies with an over 8% gain in the last seven days.
On Monday, Stellar (XLM) even overtook XRP which managed to surge by 10.71 percent to currently trading at $0.265 with a market cap of about 5.1 billion US dollars.
From the 1-day chart, Stellar Lumen’s downward trend is fluctuating between 0.27 US dollars and 0.26 US dollars and its upward trend is hovering between 0.28 US dollars and 0.29 US dollars.
According to our observations, the resistance level that was formed in September is yet to be broken with the trend lines creating an ascending triangle that indicates a further price surge in the coming days.
Cardano (ADA) Technical Analysis
On Sunday, Cardano (ADA) appreciated by 1.99 percent following an almost similar price hike of 1.14 percent on Saturday. The weekend gain played a crucial role in changing the tides of the cryptocurrency since it assisted it in reversing the losses that had been experienced earlier in the week to leave the altcoin at 0.077 US dollars.
On Sunday, Cardano (ADA) experienced an intraday low of 0.7422 US dollars following an early afternoon sell-off that forced the cryptocurrency to call on support at its first major support level at 0.0748 US dollars. It was followed by a broad-based market rally that was experienced in the afternoon driving Cardano’s (ADA) prices back to the 0.077 US dollars levels by the end of the day.
At the time of writing, Cardano is the 8th largest cryptocurrency in the market with a market cap of about 1.94 billion US dollars.
As per the last 24 hours price charts, both Stellar and Cardano stand in red as we write this article but are expected to be trading in green shortly again.
Source: global coin report
Coinbase breathes life into Cardano (ADA), Zcash (ZEC) and Stellar (XLM)
- Coinbase hints listing Cardano (ADA), Zcash (ZEC) and Stellar (XLM).
- Investors speculate the effect of the listing resulting in a bullish for all the assets.
The largest crypto exchange platform, Coinbase redefined its policies this year giving cryptocurrencies not listed on the exchange a chance to trade on the platform. Prior to the decision to increase the number of trading instruments, Coinbase has listed about for assets including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).
However, the exchange has already began increasing the assets with Basic Attention Token (BAT) and Ox (ZRX). The listings on Coinbase have always stirred upside movement with investors speculating significant rise in value. The investors of Cardano (ADA), Zcash (ZEC) and Stellar (XLM) are currently speculating on the listing of these assets to Coinbase. The market has seen a significant rise in the value of these tokens.
For stance, Cardano price surged by 3.5% on Sunday. The investors celebrated a graceful movement from $0.744 to $0.077. However, there was a pullback to the newly established support at $0.75. Cardano trading volume also rose considerably from $15 million to the current $22 million. Its market capitalization has remained stable around $1.9 billion.
On the other hand, the privacy oriented zoomed past last week. This was a whopping 21% rise in at least 2-weeks. In the last 24 hours, the crypto is down 3.42% while trading at $126. It has a 24-hour trading volume of about $136 million and a market capitalization of $659 million.
Lastly, Stellar has been trading in the green in the past one week rising from $0.22 to $0.28. The steady rise lost steam before hitting the critical $0.3 but a correction has found balance at $0.27. Currently, Stellar (XLM) is trading at $0.2726 after a 1.61% rise in the last 24-hours. The asset has a 24-hour trading volume of $114 million and a market cap of $5.1 billion. According to CoinMarketCap, Stellar is the 5th largest crypto after displacing EOS.