Bitcoin on it way back to $10000 if it holds its value above $7000, crypto trader says.

Cryptocurrency trader Michael Moro says – If bitcoin holds its value around $7,150, it could be on its way back to $10,000. Speaking on CNBC’s Fast Money he mentioned – If the [$7,000] level holds, say for the next week, two weeks, the bulls will 100 percent be back. They will be more comfortable than the lows for the year are in, and that we are more likely to see $10,000, rather than $5,000. Moro, CEO of cryptocurrency trading firm Genesis Trading and of Genesis Capita said – Once the news broke about the SEC rejection and the price actually held, we did not see the 5, 10, 15 percent sell-off that you’ve seen in previous rejections. So I think the bears have realized they’ve run out of steam.

Read complete news at CNBC


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Ethereum Roadmap Explained

Ethereum Roadmap Metropolis
Ethereum Roadmap Metropolis

Ethereum with its exceptional features like programmability, flexibility, synergy, modularity, and philosophy of humility is aiming to rule the decentralized world. While the founder Vitalik Buterin has an ambitious roadmap to strengthen the community further, let’s take a closer look and explore what’s in store with Ethereum roadmap  –

Ethereum Roadmap

Vitalik Buterin, the Founder of Ethereum, stresses that to push Ethereum to the next level – four issues need to be resolved – consensus safety, smart contract safety, privacy and the most important of all – SCALABILITY.

Here are the different stages worked on to make Ethereum robust, secure and scalable.

ETHEREUM ROADMAP
ETHEREUM ROADMAP

Metropolis:

Metropolis claims to be a faster, lighter and more secure version of Ethereum. It would also provide enhanced flexibility to developers. The Metropolis phase is split into two releases- Byzantine and Constantinople

Byzantine – Executed in October 2017

Byzantine has a total of nine Ethereum Improvement Proposals [EIP] that once implemented results in enhanced security, scalability and privacy. It would also help in lowering fees for users and faster blocks. Some of the significant changes are –

Privacy

With Metropolis phase, the users would have the ability to perform anonymous transactions, with the new privacy tool – zk-SNARKs Or zero-knowledge succinct non-interactive arguments of knowledge. This zero-knowledge proof would help Ethereum to store some of the contact variables [that are private to users] with them instead of floating them onto blockchain network.

What is A Zero Knowledge Proof?

In laymen terms, a zero-knowledge proof is the ability to prove the truth of a statement, without passing on any other additional information beyond the statement under evaluation

Let’s take an example – If you have a bunch of keys and want to make a statement “it has a key to your house,” you can prove that by just unlocking the house with the designated key, with revealing which key the key that belongs to your house.

Ethereum, in addition to zk-SNARKS, would also get ring signatures, just to provide the best of both the world to its loyal community.

Account abstraction

As mentioned earlier, Metropolis would help in providing flexibility to smart contracts developers, to support that Ethereum would now support a concept called as Abstraction. The technique improves the programmers to provide only high-level concepts and to avoid overloading the user with details.

This would help the end users to have more control over their private keys, with an added ability for contracts to pay mining fees. Abstraction technique would also help in reducing the risk of getting hacked by quantum computing.

Mining difficulty

The phase would also target to initiate the movement of moving from a miner-based PoW to a validator-based PoS system, i.e., Ethereum to work on Proof of Stake rather than Proof of Work. This move would be challenging for miners and make it less profitable for them.

Constantinople – Not set date, but expected in 2018

The release Constantinople with no set timeline will be an introductory phase for upgrading Ethereum from Proof of Work [PoW] to Proof of Stake[PoS] to be called as Casper Protocol. During the upgrade process majority of the transaction would remain as PoW on Ethereum network, but every 100th transaction would be PoS with Constantinople release. Eventually, the entire Ethereum network would have a PoS protocol.

Casper protocol has two versions-

  1. Vlad Zamfir leads one
  2. FFG [ friendly finality gadget] that is being driven by Vitalik Buterin.

There would also be “STAKERS” – one who stake/stick their coins in special wallets and lock them. There is also a reward associated for stakers as an annual dividend of ether, so the more you stake, the larger the dividend.

Pow vs PoS
Proof Of Work vs Proof Of Stake Image Courtesy – Hackernoon

Why is Ethereum Upgrading to PoS?

Following problems that could be Solved with PoS, but not with PoW

  1. Bad Actors are Punished for supporting invalid blocks
  2. Individuals have more incentive to act honestly than they do in a PoW system.
  3. Difficult to conduct a 51% attack as with PoS an individual need to purchase Ethereum market cap[ that amount is tremendous, may not be possible for individuals]. Real life example when on the Bitcoin network in July 2014, a bitcoin mining pool named Ghash controlled 51% of the mining power for 12 hours.

Serenity

The last phase of the Ethereum Roadmap that will upgrade the entire network from PoW to PoS. At this phase, Ethereum with a built-in Turing-complete programming language can be used by other companies, developers,  and entities to create applications, contracts,  and systems.

Ethereum is still a nascent technology, but many promising scaling features will allow reaching the mainstream. If Ethereum can achieve its ambitious multi-year vision, then it will lay down the foundation and backbone of the blockchain ecosystem!

Our next post would talk about How Plasma and Sharding would help in Ethereum Scalability Problem. Stay tuned.

Hackernoon, Coindesk, Cryptograph

BlackRock begins exploration of bitcoin

The $6.3tn expenditure powerhouse has designed a group from various sections of the business to look into cryptocurrencies and their underlying infrastructure, blockchain. Resources stated the group of experts is also searching at what BlackRock’s opponents are executing with cryptocurrencies and how that could impact its organization. The doing the job team will make current its conclusions to senior administration. At the time, the CEO said bitcoin and other cryptocurrencies have been “far from” remaining a prospect for institutional buyers, including that none of BlackRock’s consumers wanted to commit in it.

Read more at fnlondon


Nuo is a decentralised and transparent crypto banking platform. It acts as a blockchain powered financial control centre to store, spend, borrow and grow your crypto-currencies. Install the android app or try out our crypto backed loans platform.

[BREAKING] Russian hackers indicted by US special counsel Robert Mueller used Bitcoin for payments

Russian intelligence officers indicted by US special counsel Robert Mueller “principally used bitcoin when purchasing servers, registering domains, and otherwise making payments in furtherance of hacking activity.

Days before President Donald Trump’s summit with Russian President Vladimir Putin, Deputy Attorney General Rod Rosenstein announces new indictments from Special Counsel Robert Mueller.

The indictments have been levied against 12 Russian intelligence officers (GRU) for hacking the DNC and Hillary Clinton’s presidential campaign during the 2016 election and leaking through DCLeaks and Guccifer 2.0. This comes after 13 Russian entities were indicted earlier this year for their propaganda campaign. Read the actual document here.

UPDATE: DCLeaks was paid for with Bitcoin. The 11 Russian intelligence agents indicted today bought Bitcoin — and mined it themselves — to pay for the infrastructure they needed to hack into the DNC and release the documents.


Nuo is a decentralised and transparent crypto banking platform. It acts as a blockchain powered financial control centre to store, spend, borrow and grow your crypto-currencies. Install the android app or try out our crypto backed loans platform.

Litecoin, Bitcoin Cash Are Latest Crypto Additions to Robinhood Investing App

Robinhood, a U.S.-based mobile stock trading app, has added two new cryptocurrencies to its no-fee trading service. In an announcement made on Thursday, the business said that litecoin and bitcoin cash had been added for Robinhood Crypto users following strong demand from customers for crypto assets beyond the current options of bitcoin and ethereum. A report published in May states that the company raised $363 million in a Series D funding round that would assist firm to offer more crypto trading pairs in more markets in the U.S.

Read more at Coindesk


Nuo is a decentralised and transparent crypto banking platform. It acts as a blockchain powered financial control centre to store, spend, borrow and grow your crypto-currencies. Install the android app or try out our crypto backed loans platform.

Bitcoin mining costs hit the skies despite the fall in coin’s value

Bitcoin mining costs to outpace Bitcoin price
Bitcoin mining costs hit the skies

Bitcoin mining community is in a state of panic as the Bitcoin hash rate is shooting up rapidly irrespective of the coin’s price. In fact, the difficulty of adding a block has increased significantly over the past one year. While the Bitcoin price [as of today $6,410] has been fluctuating, the hash rate hasn’t reduced, in the last four months, it has increased by 100 %. If the trend continues, the cost of mining one Bitcoin could very well cross the value of one Bitcoin itself.

Read more at bcfocus


Nuo is a decentralised and transparent crypto banking platform. It acts as a blockchain powered financial control centre to storespendborrow and grow your cryptocurrencies.

Huobi Australia Offers Ten Cryptocurrency/AUD Trading Pairs

huobi-australia

Huobi Australia who struck a strategic partnership with Blockchain Global has announced trading of ten cryptocurrency/AUD pairs. These include Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), and Litecoin (LTC). Well, this is not it, they also plan to add more cryptocurrencies in the future. Huobi recently launched its investment fund targeted at supporting blockchain-based startups is another step to give fierce competition to rivals and seize more significant market share.

Read more at bitcoinist

solarisBank Offers Special Accounts to Blockchain and Cryptocurrency Firms

09-July-2018-1stpost
SPECIAL ACCOUNTS TO BLOCKCHAIN AND CRYPTOCURRENCY FIRMS

solarisBank a bank based out of Berlin has launched “Blockchain factory” solution that offers financial management services to firms whose business operations deal directly and indirectly with cryptocurrency solutions and blockchain technology. Roland Folz, the CEO of solarisBank stated – There is high demand from the blockchain world for a licensed partner that forms the technological and regulatory bridge to traditional banking — as a technology company with a banking license, we are the natural partner,”.  The Blockchain Factory aims to reshape the vision of decentralized banking by empowering the pioneers that are building it.

Read more at Bitcoin.com.

Bitcoin will become the world’s single currency: Jack Dorsey

Bitcoin will overtake the dollar in importance as it becomes the single global currency of the internet within a decade, Jack Dorsey, one of Silicon Valley’s leading entrepreneurs, has said. Despite recent weakness in the value of bitcoin and concerns that it cannot currently process transactions fast or cheaply enough to act as a currency, Mr Dorsey, who is chief executive of both Twitter and the payments company Square, believes that bitcoin will overcome these obstacles and will be used to buy everyday items such as coffee.

Read more at The Times

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