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Ethereum Foundation announces how its spending $30 mln to develop network

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The Ethereum Foundation announced in a recent blogpost on May 21, their plan for spending $30 million to develop the Ethereum network further over the next year.

The $30 million being spent is going to be allocated for three different categories. $19 million is set to be spent on future projects, $8 million is set to be spent on current projects, and $3 million is set to be spent on developer support.

The bulk of the $30 million, which is set to be spent on future projects, is set to include various projects to scale the network. These projects have been dubbed Ethereum 2.0 projects and include client teams, research, documentation and communication, and layer 2 projects like Plasma.

Plasma is set to enable “the blockchain to be able to represent a significant amount of decentralized financial applications worldwide,“ according to the blogpost. The first mention of Plasma was proposed by Vitalik Buterin and Joseph Poon in 2017.

The blogpost also laid out the main reason to scale the platform over the next year in the blogpost:

“Ethereum is used in production today to secure billions of dollars of assets and as a base layer for many hundreds of live applications. We believe that it is vital to continue supporting these efforts to ensure that “Ethereum 1.0” continues to be the world’s dominant smart-contract platform.”

Source.chepicap

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Ethereum

Ethereum (ETH/USD) weekly forecast on June 17 — 23, 2019

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Cryptocurrency Ethereum (ETH/USD) is trading at 270. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Ethereum. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator.

Ethereum (ETH/USD) weekly forecast on June 17 — 23, 2019

As part of the Ethereum course forecast, a test of level 255 is expected. Where should we expect an attempt to continue the growth of ETH/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 340. The conservative area for buying of Ethereum is located near the lower border of the Bollinger Bands indicator strip at level 235.

Ethereum (ETH/USD) weekly forecast on June 17 — 23, 2019

Cancellation of the option to continue the growth rate of Ethereum will be the breakdown of the lower border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing of quotations of the pair below area 220. This will indicate a change in the current trend in favor of a bearish for ETH/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bars, one should expect an acceleration of the fall of the cryptocurrency.

Ethereum (ETH/USD) weekly forecast on June 17 — 23, 2019implies a test of the level of 255. Further, growth continues to continue to the area above the level of 340. The conservative area for buying Ethereum is located area of 235. Cancellation of the growth option of cryptocurrency will be a breakdown of the level of 220. In this case, we can expect continuation the fall.

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Ethereum 2.0 migration is similar to a hard fork says, Blockstream’s Samson Mow

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Ethereum 2.0 project was designed to solve the scalability and consensus problems as Vitalik Buterin , the co-founder of Ethereum said. The much-anticipated rollout features revamp in terms of security, scalability, and decentralization which could not be introduced by means of a hard fork in the existing Ethereum network. According to Samson Mow, the Chief Strategy Officer of Blockstream, “migration of one chain to another, in the case of Ethereum 2.0, is similar to a hard fork”.

In the latest edition of Magical Crypto Friends, hosted by Whale Panda, a prominent figure in the crypto space, took a jibe at the network and stated that Ethereum is basically “dumping Ethereum 1 for Ethereum 2” which would require jumping from one chain to another and “starting from scratch”, and subsequently crop up issues of “potential bugs” on the network.

Responding to which, Mow said,

“You have to expect that everyone is going to give up their old Ethereum or you find a way to migrate it to the new chain. [..] you’re still expecting everyone’s going to migrate right if people don’t migrate then technically you would have the legacy chain alive “

Mow went on draw parallels to the upcoming Ethereum 2.0’s Beacon chain. According to the CSO of the Bitcoin startup firm, the Beacon chain, which is the central blockchain that is responsible for coordinating other Ethereum blockchains, is “similar to Bitcoin main chain”. He further compared the Ethereum’s “shards” to that of Bitcoin’s “side chains”. Following the comparison, Riccardo Spagni, aka Fluffy Pony ridiculed,

“so maybe the dream is to take existing stuff that someone invaded for Bitcoin, rename it, and then that’s how you make it real” Mow, who is a Bitcoin bull, had earlier singled out Ethereum and said that the blockchain has “no future”.

Source :ambcrypto

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Ethereum (ETH/USD) forecast and analysis on June 16, 2019

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Cryptocurrency Ethereum (ETH/USD) is trading at 264. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Ethereum. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator.

Ethereum (ETH/USD) forecast and analysis on June 16, 2019

As part of the Ethereum course forecast, a test of level 258 is expected. Where should we expect an attempt to continue the growth of ETH/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 282. The conservative area for buying of Ethereum is located near the lower border of the Bollinger Bands indicator bands at the level of 248.

Ethereum (ETH/USD) forecast and analysis on June 16, 2019

Cancellation of the option to continue the growth rate of Ethereum will be the breakdown of the lower border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing of quotations of the pair below area 235. This will indicate a change in the current trend in favor of a bearish for ETH/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bars, one should expect an acceleration of the fall of the cryptocurrency.

Ethereum (ETH/USD) forecast and analysis on June 16, 2019 implies a test level of 258. Further growth is expected to continue to the area above the level of 282. The conservative area for buying Ethereum is located area of 248. Cancellation of the growth option of cryptocurrency will be a breakdown of the level of 235. In this case, we should expect a further fall.

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