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Enterprise Ethereum Alliance announces launch of testnet

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  • The Enterprise Ethereum Alliance (EEA) has announced the launch of its first testnet.
  • EEA has entered into a cooperation with Whiteblock to use their Genesis SaaS platform for blockchain testing.

The EEA is a worldwide association of prominent companies from the tech industry that have set themselves the goal of advancing the development of the Ethereum blockchain technology. This conglomerate is the largest open source blockchain consortium in the world, which aims to deliver enterprise-ready software based on the Ethereum blockchain that can handle the most complex and demanding requirements of the corporate world.

Yesterday the EEA announced that through a cooperation with Whiteblock the first official testnet has been launched. Zak Cole, CEO of Whiteblock and chairman of the EEA Testing and Certification Working Group, said:

THE EEA TESTNET WILL ENABLE MEMBERS TO COLLABORATE AND UNDERSTAND HOW ETHEREUM SYSTEMS PERFORM AT SCALE IN A DETERMINISTIC AND CONTROLLED MANNER.

Under the partnership, EEA will use the Whiteblock-Genesis testplatform to provide and manage EEA’s official testnet. Genesis was launched yesterday and offers users the opportunity to pilot a whole range of end-to-end blockchain tests and development scenarios and to gain initial experience and results.

The testnet will enable the global business community to build, test and evaluate Ethereum’s next generation business applications. Participating actors can set up their own nodes and develop dApps. The EEA testnet will also support Metamask and provide full data and analysis capabilities. EA Executive Director Ron Resnick describes:

THE EEA’S BUSINESS-FOCUSED APPROACH ENABLES THE BROADER ETHEREUM BUSINESS COMMUNITY TO COLLABORATE, INNOVATE, AND CONTRIBUTE TO THE EVOLUTION OF WORLD-CLASS ETHEREUM SOLUTIONS. THE EEA’S TESTNET BRINGS US ONE

STEP CLOSER TO CREATING AN ECOSYSTEM THAT OFFERS APPLICATION AVAILABILITY FROM MULTIPLE VENDORS OF CHOICE.

It is also possible to verify the requirements of companies within the testnet and thus to check the feasibility of projects in advance. The scalability and related key figures, such as transactions per second and other performance requirements can be determined quickly and easily in the testnet.

In addition, security tests, such as the simulation of a 51% attack, can be carried out. Stress tests on smart contracts are also possible to measure gas costs and to understand the limits of the system under different conditions. Migration tests can also be simulated. The launch of the testnet marks another milestone in the still young history of EEA.

Ethereum is the undisputed number 1

Ethereum provides a complex ecosystem that many big tech giants like Microsoft or Amazon already use with its web services. Ethereum also continues to be the leading network in the field of distributed applications, accounting for 55% of the total transaction volume of the dApps market. In 2019, ETH generated sales of USD 12.8 billion, followed by EOS with USD 6.1 billion and TRON with USD 4.4 billion.

However, Ethereum leads not only in terms of transaction volume, but also in categories: Number of dApps, active dApps, new dApps and active dApp users. With 1.82 million active dApp users, Ethereum has almost twice as many users as TRON.

Ethereum’s price follows the current market trend and has fallen 1.33% in the last 24 hours, to a price of USD 161.06.

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Last Updated on 16 January, 2020



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Ethereum

ETHEREUM: Will It Rise Again? – The Coin Republic

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  • Ethereum is one of the leading and most successful Cryptocurrency that is out there, it valued at 168.16 USD.
  • Analyst Bobby Ullery believes that blockchain technology will play a crucial role in the future economy and international trade.
  • The predictions state that in January Ethereum will make it to $720, and by the end of the year it will reach $1488.

Ethereum is one of the leading and most successful Cryptocurrency that is out there. As of now, it valued at 168.16 USD. There has been quite a momentum in the market price as we entered the New Year 2020.

People still have faith in ETH, and they predict that it will rise, and by the end of the year, it will equal or break its own all-time high back in 2017 when it increased by 10,000%.

Looking at the history of the Cryptocurrency market and its volatile nature, people still try to predict the price of the market. There are a few predictions that have gained much popularity. One is from online analyst Bobby Ullery, and the other is from CoinKir.

Eth Price Prediction by Analyst: Bobby Ullery

Analyst Bobby Ullery believes that blockchain technology will play a crucial role in the future economy and international trade. According to him, Bitcoin and Ethereum will each hold 25% of the entire cryptocurrency industry, which he predicts will have a total market capitalization of $4.5 trillion in 2020.

For the people who do not understand market capitalization pay close attention. You get the value when you multiply the number of coins in circulation with

the market value of each currency. The critical point to note here is that Ethereum does not have a fixed supply.

For Ullery’s prediction to come true, the Ethereum value should rise by 775%. This is not at all an unrealistic speculation considering its previous rises.

Eth Price Prediction by CoinKir

Coinkir gave another prediction by using technical price analysis. This method tries to find trends in price movements in the past — this method used in real-world financial markets.

But the problem arises is that the real world market has more than 50 years of data which is not available in the cryptocurrency market.

Although the predictions state that in January Ethereum will make it to $720, and by the end of the year it will reach $1488. If this prediction is correct, then the market capitalization of Ethereum will be $148 billion.

Apart from these predictions, some factors can gravely affect the price of Ethereum in the coming years. With the emergence of new protocols like plasma and sharding that meant to increase the number of transactions in a shorter time, If Ethereum inculcates these protocols, the prices will shoot up instantly.

Another factor is shifting from POW to POS will also help in the improvement of validating transaction much faster. Although these factors are highly effective, it is also essential to know that these ideas are in their early days, and no one knows how long will it take. One can only wait and keep himself updated with all these development.

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Ethereum Price Analysis: ETH/USD breaks above flag formation and $170 barrier

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  • The SMA 20 curve has crossed above the SMA 50, which is a bullish sign.
  • The RSI indicator is creeping along the edge of the overbought zone.

ETH/USD daily chart

ETH/USD daily chart

ETH/USD bulls made a comeback this Friday, following a bearish Thursday. The price went up from $164 to $171, breaking above the flag formation in the process. After falling back into the

20-day Bollinger Band this Thursday, the price managed to climb back above it, indicating that the asset is currently overpriced. The 20-day Simple Moving Average (SMA 20) has crossed over the SMA 50, which is a bullish sign. The Moving Average Convergence/Divergence (MACD) indicates sustained bullish momentum. Finally, the Relative Strength Index (RSI) indicator is creeping along the edge of the overbought zone, hinting that the market may go up a bit more before it faces bearish correction

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Ethereum (ETH/USD) forecast and analysis on January 18, 2020

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Cryptocurrency Ethereum (ETH/USD) is trading at 165. 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 middle border of the Bollinger Bands indicator stripes.

Ethereum (ETH/USD) forecast and analysis on January 18, 2020

As part of the Ethereum forecast, a test of level 160 is expected. Where can we expect an attempt to continue the growth of ETH/USD and the further development of an upward trend. The purpose of this movement is the area near the level of 183. The conservative buying area Ethereum is located near the lower border of the Bollinger Bands indicator strip at level 147.

Ethereum (ETH/USD) forecast and analysis on January 18, 2020

Cancellation

of the option to continue the growth of the Ethereum rate will be a breakdown of the lower border of the Bollinger Bands indicator stripes. As well as a moving average with a period of 55 and closing of quotations of the pair below the area of ​​142. This will indicate a change in the current trend in favor of the bearish for ETH/USD. In case of breakdown of the upper border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.

Ethereum (ETH/USD) forecast and analysis on January 18, 2020 implies a test level of 160. Further growth is expected to continue to the area above level 183. The conservative buying area is located near area 147. The breakdown of the growth option for cryptocurrency will be the breakdown of level 142. In this case, we should expect further fall.

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