Category Archives: Ethereum
Unleash Your Potential in Ethereum: Become an Expert in the … – Geeks World Wide
Summary
Ethereum is a blockchain network that enables the creation of decentralized applications (dApps) through its native coin, Ether (ETH). Becoming an Ethereum expert can open up various career opportunities, with Ethereum developers being in high demand. Some of the responsibilities of an Ethereum expert include researching and developing blockchain technologies, enhancing existing applications, and documentation.
If youre interested in becoming an Ethereum expert, its essential to understand the scope of the project and the career prospects it offers. Ethereums ability to create dApps has made it the most popular platform for decentralized application development. This article explores what it takes to become an Ethereum expert, including the skills and responsibilities involved.
To become an Ethereum expert, you must have a thorough understanding of the project and its potential career paths. Ethereum developers are in high demand and can utilize their knowledge to create decentralized applications. Some of the responsibilities of Ethereum experts include researching, developing, and testing blockchain technologies, enhancing existing applications, and documentation.
The skills required to become an Ethereum developer or expert include fluency in software development, proficiency in programming languages like C++ and JavaScript, knowledge of data structures and commonly used methods, understanding of P2P networks and cryptography, and familiarity with concurrency and multithreaded code.
Despite the challenges of acquiring the necessary skills, the long-term potential for Ethereum developers and experts is promising. The growing adoption of decentralized finance (DeFi) applications will further increase the demand for Ethereum expertise. The typical compensation for an Ethereum developer ranges from $120,000 to $170,000.
The Ethereum merge, which aims to eliminate mining hardware, could impact the cryptocurrency industry. The transition to a proof-of-stake system could significantly reduce carbon emissions and leave Bitcoin as the only major cryptocurrency based on the proof-of-work methodology.
Becoming an Ethereum expert requires a deep understanding of the project and its potential career paths. Ethereum developers are highly sought after, and acquiring the necessary skills can lead to lucrative job opportunities. The ongoing transition to a proof-of-stake system through the Ethereum merge could have significant environmental and industry implications. Despite the challenges, the demand for Ethereum expertise is expected to grow as decentralized finance applications continue to gain popularity.
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Unleash Your Potential in Ethereum: Become an Expert in the ... - Geeks World Wide
Binance Integrates PancakeSwap and Kyber Network on Ethereum … – Blockchain Reporter
Binance successfully integrated PancakeSwap (CAKE) on Ethereum (ERC-20) and Kyber Network (KNC) on Polygon. The union of these two notable blockchain initiatives offers consumers new opportunities and strengthens their positions in decentralized finance (DeFi).
KNCs importance as a platform component. The Ethereum (ERC20) and Polygon (POL) (MATIC) networks can deposit and withdraw PancakeSwap (CAKE) and Kyber Network (KNC) tokens. This advancement should increase project and community opportunities.
Since its launch in 2017, Kyber Networks KNC token has helped grow the ecosystem. KNC, Kyber Networks foundation, is a utility and governance token. KyberSwap, Kyber Networks major DEX aggregator and liquidity platform across several chains, underpins this integration. The Kyber Network Crystal (KNC) token powers KyberSwaps network utility and governance.
Staking KNC tokens gives holders voting rights in the network, allowing them to influence major policy decisions. The increased involvement and growth on KyberSwap may also benefit the individuals.
KNC was revised in 2021 to include new features and improve adaptability to fit the dynamic DeFi ecosystem. The token formerly known as KNCL (Kyber Network Crystal Legacy) was rebranded. KNC token holders can trade them for KNCL tokens at 1:1.
The ability of KyberDAO to create tokens increases the malleability of the Kyber Network Crystal (KNC). The capacity boosts liquidity, innovation, and growth in the KyberSwap ecosystem.
Staking KNC tokens in the KyberDAO allows token holders to vote on Kyber Improvement Proposals (KIPs), allowing them to directly influence the platforms future. KNC token holders also receive a percentage of KyberSwap trading fees for staking and governance.
The merger of Binance, PancakeSwap, Kyber Network, and numerous blockchain ecosystems advances decentralized finance (DeFi). The increase in user options reinforces KNC and CAKEs responsibilities in their networks.
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Binance Integrates PancakeSwap and Kyber Network on Ethereum ... - Blockchain Reporter
Ethereum is a ‘dumpster fire’ Charles Hoskinson – Cointelegraph
An amusing attempt at satire has drawn the ire of Cardano founder Charles Hoskinson, or so it appears.
In response to a fan commentary doubting the blockchains roadmap and criticizing its supposed similarity to Ethereum, Hoskinson responded, "Its getting delusion town now," and, We are living rent-free in the maxi minds. I pity them." Addressing the Ethereum comparison, the founder said:
"Cardano's sidechain plans mutually benefit both Cardano and the sidechain," he stated.
In March 2020, the Cardano Foundation published a research paper describing Hydra, a layer-2 solution using sidechains to offload transactions from the main network. Hoskinson explained that Cardano would soon become the fastest system in the world," raising the following example:
In an ask-me-anything session from November 2021, Hoskinson revealed that the Hydra project was still under development with no set launch date. The first mainnet-compatible Hydra node was released on May 11, 2023. Since then, developers have teased the upcoming Hydra Pay, a supposed layer-2 integration with Cardano wallets bearing the feature of instant settlement and gazillion TPS."
Regarding utility, data from Cardanoscan indicate that the blockchain currently processes an average of 65,000 transactions per day, or 0.75 transactions per second. In comparison, Ethereum processed over 1 million transactions in the past 24 hours, or about 12.45 transactions per second.
No matter how many times the VC coins, the cryptomedia, or the maxi crowd proclaims we are dead, irrelevant, or failing, we always remind them that Cardano is here to stay," wrote Hoskinson in a previous tweet.
Magazine:Should we ban ransomware payments? Its an attractive but dangerous idea
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Ethereum is a 'dumpster fire' Charles Hoskinson - Cointelegraph
Ethereum Price Prediction Time Is Running Out For ETH Maxis – Analytics Insight
Ethereum (ETH) price is retesting a key demand zone after failure to break above the $1,900 resistance level. The smart contract cryptocurrency is changing hands at $1,787 on Thursday as the altcoin sell-off intensifies. The latest technical analysis suggests time is running out for the ETH maxis as the price hangs by a thread.
On Thursday, ETH to USD price plummeted to $1,775 before showing a brief recovery. This was the lowest level for the native asset of the top L1 platform since 21st June. On a weekly timeframe, the leading cryptocurrency is down 2.85% this week, which depicts the intensity of the downtrend.
The ETH/BTC pair shows Ethereums strength against Bitcoin. The following chart shows that the crypto pair has been trading sideways since June 2023 in a narrow trading range. The bottom of this trading range lies at 0.0605, and the top lies at 0.0645. Currently, the pair is retesting the mid of the trading range, which might act as a support level.
In case of a breakdown below the 0.0624 level, the next stop would be the range lows of $0.0605. For Ethereum price prediction to turn bullish, ETH must break above the range highs of 0.0645 soon. A failure to break above this level could send the leading L1 asset to its fresh yearly lows in the coming months.
According to the latest Ethereum news, the former president of the United States, Donald Trump, has been revealed to be holding $2.8M worth of ETH. The digital assets held inside his Ethereum wallet are much more than the previously disclosed figure of $250,000 to $500,000.
Most of the cryptocurrency in the wallet has been received through licensing fees from the Trump NFTs collection. The former president launched his NFT collection, Trump Digital Trading Cards, in December 2022. Till now, 14,303 ETH worth of these NFTs have been exchanged on the NFT marketplace Opensea.
A look at the following chart reveals that the Ethereum price is currently hovering within a significant demand zone. Price has retested this demand zone multiple times, resulting in solid rebounds. However, the support level is likely to break soon if the selling pressure keeps increasing in the coming days.
A breakdown below the $1,780 level will be very bearish for ETH price. Therefore, the bulls need to hold this level. On a higher timeframe, the biggest resistance remains the $2,100 level, which has resulted in multiple rejections this year. Close attention must also be given to the BTC price action, which precedes the altcoin price action.
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Ethereum Price Prediction Time Is Running Out For ETH Maxis - Analytics Insight
This Week in Coins: Flash Crash! Bitcoin and Ethereum Shed 10% as Altcoins Tumble – Decrypt
Illustration by Mitchell Preffer for Decrypt.
The prices of leading cryptocurrencies took another downturn this week after briefly inching upwards the week before.
Market leader Bitcoin (BTC) posted a mild overnight drop of 2% to below $29,000 on Thursday, after minutes of the latest Federal Reserve policy meeting were released the day before. The document indicatesthat the U.S. central bank will continue its conservative monetary policy in an ongoing effort to rein in inflation.
Later that day, Bitcoin dropped below $28,000 for the first time in two months. By the afternoon, it appeared to be in the midst of a flash crash, reaching a bottom of $25,649 before rebounding a little.
Analysts told Decrypt that market liquidity has been in decline for a while now, leaving the entire market vulnerable to a sudden big sell-off.
And a huge sell-off is just what occurred. News that Chinese property giant Evergrande filed for Chapter 15 bankruptcy protection in a Manhattan court prompted institutional investors and big holders to dump riskier assets, like stocks and Bitcoin, causing the sudden drop.
All told, Bitcoin ends the week at $25,935, posting a seven-day drop of 11.9%.
Closest contender Ethereum (ETH) fared similarly, with an intraweek drop of 10.2% to $1,662.
Broadly speaking, these were some of the lightest price movements. Altcoins generally tumbled harder, with most other leading cryptocurrencies posting losses of between 10% and 20%, including BNB, XRP, Dogecoin (DOGE), Solana (SOL), Polkadot (DOT), Polygon (MATIC), and Avalanche (AVAX).
Losses of over 20% were felt by holders of Uniswap (UNI), Litecoin (LTC), and Shiba Inu (SHIB), which dropped over 23%.
The most resilient cryptocurrency in the top twenty by market cap was TRON (TRX), which only fell 4.8% and currently sells for $0.073810.
The regulatory uncertainty around crypto continued apace as the news cycle in the U.S. and beyond gave crypto hopefuls very little to chew on.
On Monday, the Federal Deposit Insurance Corporationa leading U.S. bank regulatordedicated two out of ninety pages to crypto in its annual report. Insignificant as it may seem, this was a first for the FDIC, which used the slim space to point out that crypto may pose novel and complex risks to the financial system.
Argentinian Bitcoin fans enjoyed a different week than the rest of us. The worlds favorite cryptocurrency reached its Argentine all-time-high of 10.2 million Argentine Peso (ARS) on Wednesday, piggybacked by a surprise victory in the country's presidential primaries by hopeful Javier Milei, a professed libertarian known for his pro-Bitcoin stance.
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This Week in Coins: Flash Crash! Bitcoin and Ethereum Shed 10% as Altcoins Tumble - Decrypt
Coinbases New Ethereum Layer-2 Briefly Surpasses Optimism and Arbitrum in Daily Transactions: On-Chain Data – The Daily Hodl
Coinbases new Ethereum (ETH) layer-2 scaling solution briefly surpassed Optimism (OP) and Arbitrum (ARB) this week in terms of daily transactions.
According to data provided by each scaling solutions respective block explorers, Base hit 617,330 transactions on August 13th, compared to 438,559 for Optimism and 544,575 for Arbitrum on the same day.
Both Optimism and Arbitrum have since surpassed Base in terms of daily transaction counts.
Bases all-time high level of daily transactions actually occurred three days earlier on August 10th, when it hit 757,294.
The new layer-2 project officially launched earlier this month and is powered by Optimism. Coinbase has previously said it hopes Base helps onboard over a billion people into the crypto economy.
The exchange has noted there are no plans to launch a network token associated with Base. The project is designed to be compatible with Ethereum, Ethereum layer-2s and alternative layer-1 blockchains.
Optimisms native token, OP, is trading at $1.38 at time of writing. The 42nd-ranked crypto asset by market cap is down nearly 1.5% in the past 24 hours and more than 13% in the past seven days.
Arbitrums native token, ARB, is trading around $0.987 at time of writing. The 39th-ranked crypto asset by market cap is down nearly 5.75% in the past day and nearly 18% in the past week.
Generated Image: Midjourney
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Crypto Whale Sells $41 Million of Ethereum ($ETH) Ahead of Market Crash – CryptoGlobe
A large cryptocurrency whale has liquidated over $41 million worth of the second-largest cryptocurrency by market capitalization Ethereum ($ETH) shortly before the cryptocurrency market crashed and lost over 6% of its value in just 24 hours.
According to on-chain analysis service Lookonchain, the whale dumped 22,341 ETH then valued at $41 million in a move that realized a loss of $1.7 million for the whale, but successfully avoided a market crash.
The whale realized its loss by moving the ETH tokens to leading cryptocurrency exchange Binance, where it sold the funds and then withdraw them in the form of leading stablecoin USDT.
The move came ahead of a cryptocurrency market crash that saw the total capitalization of the space drop by over 6% to $1.1 trillion, the lowest level in at least two months, that came amid reports SpaceX sold all of its Bitcoin even though these remain unconfirmed and as Chinas struggling property giant Evergrande filed for Chapter 15 bankruptcy protection in the United States.
While the price of Bitcoin is down by around 7.3% in the last 24-hour period and over 10% in the last seven days, Ethereums price dropped by 9.5% in the past week and 6% over the last 24-hour period as it outperformed the flagship cryptocurrency.
Ethereums performance is tied to reports that suggest the U.S. Securities and Exchange Commission (SEC) is set to approve the listing of exchange-traded funds (ETFs) indirectly offering exposure to the cryptocurrency through ETH futures contracts.
Notably earlier this week, Nasdaq-listed cryptocurrency exchange Coinbase gained regulatory approval to offer Bitcoin and Ether futures trading to customers in the United States. Coinbases foray into the derivatives sector isnt a recent endeavor. In September 2021, the company submitted an application to the National Futures Association (NFA) seeking FCM registration.
Featured image via Pixabay.
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Crypto Whale Sells $41 Million of Ethereum ($ETH) Ahead of Market Crash - CryptoGlobe
Greatest Rug Pull EverShocking Fed Warning Heralds Bitcoin, Ethereum, XRP And Crypto Price Chaos – Forbes
08/16 update below. This post was originally published on August 15
BitcoinBTC, ethereum, XRPXRP and other major cryptocurrencies have been stuck in a rut recently, despite a "monster crypto killer-app" potentially priming the market.
Subscribe now to Forbes' CryptoAsset & Blockchain Advisor and successfully navigate the bitcoin and crypto market rollercoaster
The bitcoin price has almost doubled so far this year, rocketing as China stages a surprise crypto flip, Tesla billionaire Elon Musk pulls in the pin on a crypto grenade and the world's largest asset manager readies a bitcoin, ethereum and XRP bombshell.
Now, after payments giant PayPal surprisingly doubled down on crypto, one closely-watch bitcoin and crypto analyst has warned the Federal Reserve is about to trigger that "greatest rug pull ever" and could cause bitcoin price chaos later this year.
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"What were doing now is the greatest rug pull in liquidity ever after the biggest pump in liquidity ever," Bloomberg Intelligence senior macro strategist Mike McGlone told podcaster Scott Melker. "And the fact that I can say that and show the data is still shocking to me."
McGlone warned that as liquidity continues to decline through the rest of 2023, the bitcoin price could collapse, dragging on ethereum, XRP and the wider crypto market.
08/16 update: Federal Reserve officials on the interest rate-setting Federal Open Market Committee were worried the continued pace of inflation could require more rate hikes during the last meeting, details released today have shown.
"With inflation still well above the Committees longer-run goal and the labor market remaining tight, most participants continued to see significant upside risks to inflation, which could require further tightening of monetary policy," officials said during the July meeting, according to the minutes.
U.S. inflation is still far from the Fed's 2% target, with the July consumer price index (CPI) coming in at 3.2% over the same period last year, though that's down from its June 2022 9% peak.
The Fed began sucking liquidity out of the system in late 2021, when the bitcoin price peaked at almost $70,000 per bitcoin, and hiking interest rates to drive down soaring inflation in the aftermath of economic shocks caused by the Covid pandemic and global lockdowns.
"Lets picture ourselves in December. Recessions kicking in. People are hoping the Fed will ease and theyll probably going to say, 'No were not, because we still see high inflation,'" McGlone said, adding he's looking to bitcoin as an early indicator.
"What should be early indications of [recessionary times]? What was the biggest liquidity pump indicator, new technology ever for the last 10 years? Cryptos. The best indication should be bitcoin and thats where Im looking for the bleeding occasion from bitcoin and its still kind of showing what I expected. It got up to near $30,000 and its just not been able to get much above there."
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Officials are divided ahead of the Fed's next interest rate meeting, set for September, with many economists and central bank watchers predicting the Fed will hold rates steady at the highest level in just over 20 years.
"Inflation is still significantly above" the Feds 2% target, Fed governor Michelle Bowman said last week at an event in Atlanta, it was reported by CNN. "Given these developments, I supported raising the federal funds rate at our July meeting, and I expect that additional increases will likely be needed to lower inflation to the FOMCs goal."
I am a journalist with significant experience covering technology, finance, economics, and business around the world. As the founding editor of Verdict.co.uk I reported on how technology is changing business, political trends, and the latest culture and lifestyle. I have covered the rise of bitcoin and cryptocurrency since 2012 and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself. I have worked and written for CityAM, the Financial Times, and the New Statesman, amongst others. Follow me on Twitter @billybambrough or email me on billyATbillybambrough.com.Disclosure: I occasionally hold some small amount of bitcoin and other cryptocurrencies.
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SEC Expected to Approve Ethereum Futures ETFs by October: Report – Decrypt
The U.S. Securities and Exchange Commission (SEC) is reportedly set to greenlight Ethereum futures exchange-traded funds (ETFs) in the coming months.
According to a Bloomberg report, which cites anonymous sources familiar with the matter, the regulator is not expected to block the applications of around twelve companies, including ProShares, Volatility Shares, Bitwise, and Valkyrie, that have recently applied to launch Ethereum futures ETFs.
Such an ETF would track the price of Ethereum futures that are traded on the Chicago Mercantile Exchange, rather than direct spot exposure to the digital asset.
While it is not clear which specific ETF applications will be approved, officials have reportedly indicated that some of the filings could receive approval as early as October.
The SEC and Valkyrie declined to comment. ProShares confirmed with Decrypt their application submission, adding that "we are in the quiet period and due to Securities and Exchange Commission (SEC) regulations are not allowed to discuss products currently in the registration period with the SEC."
BitWise and Volatility Shares did not immediately respond to Decrypt's request for comment.
Over a dozen applications for Ethereum futures ETFs hit the SECs door in recent weeks, with the Valkyries dual Bitcoin and Ether Strategy ETF, which is a proposed conversion of the financial services firms existing Valkyrie Bitcoin Strategy ETF, being first in the line for a possible launch as early as on or around October 3.
Earlier this week, Valkyrie also filed for its Ethereum Strategy ETF, however, the first pure Ethereum futures ETF sponsored by Volatility Shares could go live around October 11.
ETF analyst Eric Balchunas has meanwhile commented he was not surprised by the SEC's expected move to approve Ethereum futures ETFs.
This not surprising to us, we had said they would approve Ether Futures early on in race. Nice to be validated. Now what does it mean for spot? Hard to say beyond it shows that their views, policy, and tolerance can change, wrote Balchunas.
The SEC has thus far declined to approve any spot crypto ETFs. However, there has been a notable shift in the regulator's approach in late 2021, when the SEC greenlit several Bitcoin futures funds that invest in contracts trading on the Chicago Mercantile Exchange (CME).
Bloomberg analyst James Seyffart also pointed to Roundhill, which is also on the list of Ethereum futures ETF hopefuls, disclosing a 0.19% management fee for their proposed fund.
This is very low compared to BTC futures ETFs like Proshares' $BITO's 0.95%. And is still drastically lower than VanEck's $XBTF which at 0.76%. Fee war already starting in crypto ETFs, wrote Seyffart.
Despite the positive news of the potential approval of Ethereum futures ETFs, the worlds second-largest cryptocurrency last night experienced a significant price drop to its lowest levels since mid-June.
Amid the latest market sell-off, which also saw Bitcoin (BTC) plunge below $26,000, ETH dropped to as low as $1,576 before recovering to $26,533 at the time of writing.
Despite the recovery, Ethereum remains down 7% on the day, according to CoinGecko.
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SEC Expected to Approve Ethereum Futures ETFs by October: Report - Decrypt
Is Ether the Same as Ethereum? – Watcher Guru
Is Ether the Same as Ethereum?
Cryptocurrency enthusiasts and investors often come across the terms Ethereum and Ether.
However, there is a common misconception that these two terms are interchangeable.
In reality, Ethereum and Ether are distinct entities within the realm of digital currency.
This article aims to clarify the differences between Ethereum and Ether, providing a comprehensive understanding of their roles and functionalities in the cryptocurrency ecosystem.
Also read: Why are Ethereum Network Fees so High?
Ethereum is a blockchain-based platform that revolutionizes the way we interact with digital assets and decentralized applications (dApps).
It serves as a decentralized global platform for developers to create smart contracts and dApps without the need for intermediaries.
Ethereums blockchain technology allows for secure, transparent, and tamper-proof transactions and operations.
Ether (ETH) is the native cryptocurrency of the Ethereum network.
While Ethereum is the platform, Ether serves as the fuel that powers transactions and operations within the network.
Ether stands as a digital asset that is purchasable, tradable, and usable for investment, payments, and exchange trading.
Also read: Ethereum: Donald Trump Holds Up To $500k ETH
When users initiate transactions or execute smart contracts on Ethereum, they need to pay gas fees, which are calculated in Ether. These gas fees compensate the network participants, including miners, for their computational resources and effort in securing the blockchain.
Yet, remember that engaging in cryptocurrency investments involves risks and requires prudent consideration.
The use of Ether as a medium of exchange provides an alternative to traditional fiat currency transactions, offering faster and more secure transactions, especially for cross-border payments.
It is crucial to understand the distinction between Ethereum and Ether to avoid confusion. Ethereum refers to the blockchain-based platform that enables the creation of decentralized applications and smart contracts.
On the other hand, Ether is the specific cryptocurrency that operates within the Ethereum network.
While Ethereum is the infrastructure, it also serves as the digital asset and means of value exchange within that infrastructure.
In summary, Ethereum and Ether are integral components of the cryptocurrency ecosystem, but they are not interchangeable terms.
Furthermore, Ethereum is a blockchain-based platform that facilitates the development and deployment of decentralized applications and smart contracts. Ether, on the other hand, is the native cryptocurrency of the Ethereum network, serving as a digital asset and payment method within the ecosystem.
Understanding the distinctions between Ethereum and Ether is essential for anyone navigating the world of cryptocurrencies, enabling informed decision-making and participation in this evolving digital landscape.
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