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Despite the large number of opponents and rumors of collusion between Ethereum developers and GPU producers, the ProgPoW algorithm has been supported by 94 percent of the community. Ethereum (ETH) network users have unanimously supported the ProgPoW algorithm, which is expected to make the platform resistant to application-specific integrated circuit (ASIC) miners. Initially, opponents of the update prevailed over supporters by a margin of 96 percent, according to a Cointelegraph report on Feb. 15. The current scenario is exactly opposite, with 94 percent of voters favoring the implementation of ProgPoW, as evidenced by the Etherchain charts. What is ProgPoW?Simply put, ProgPoW is a version of the proof-of-work (PoW) algorithm, which is supposed to smooth the transition of the Ethereum network to proof-of-stake (PoS). As a part of this process, developers are exploring and proposing different solutions to fight off the mining difficulty bomb and make the network stable and resistant t..
Fundstrat Global Advisors issues its 2019 crypto outlook stating that the major coins will soon recover. New York-based research company Fundstrat Global Advisors has released its 2019 crypto outlook on Friday, Feb. 8. The analysts describe incremental improvements that will purportedly support higher prices for cryptocurrencies. Tom Lee, Fundstrat’s co-founder and pro-crypto Wall Street analyst, commented on the study in his Twitter. He posted an introduction to the study and infographics that trace key market tendencies from 2017 to now. “We see 9 incremental improvements in the landscape that ultimately support higher prices,” Lee’s tweet states. The preview of the introduction chapter provides a brief assessment of 2018, which, according to Fundstrat, has brought a lot of disappointment. The analysts state that negative headwinds, such as the initial coin offering (ICO) post-hangover, adverse regulatory developments and excessive exuberance have reversed some of crypto’s achieveme..
Two major crypto platforms join the likes of Binance and Huobi in pledging to proactively monitor this week’s Ethereum update. Major United States cryptocurrency exchanges Coinbase and Kraken became the latest to confirm support for Ethereum’s (ETH) Constantinople hard fork, both announcing on Twitter, Jan. 14. The two major exchanges join Binance, Huobi and OKEx in pledging to monitor the event, which will trigger at Ethereum block height 7,080,000, expected this week. “Coinbase intends to fully support the Constantinople Ethereum (ETH) upgrade,” staff wrote in the post, adding: “Upon commencement of the upgrade, for security and technical purposes, we will temporarily pause sending and receiving ETH across all of our trading platforms until the upgrade completes and we confirm security of the network.” In a tweet, Kraken also confirmed it would support Constantinople, officials adding they “expect this will be a non-contentious fork” and will not spark competing ETH chains, as happe..
American payments firm Square has been named Yahoo Finance Company of the Year. United States-based Bitcoin (BTC)-supporting payments firm Square has been named Yahoo Finance company of the year, according to a report from the media outlet Dec. 18. As Yahoo Finance reports, $26 billion market cap payments company — founded by Jack Dorsey and Jim McKelvey in 2009 — has reportedly seen its stock go up 72 percent through Dec. 14; its shares were up 170 percent through the end of September, before the wider market downturn. As previously reported, Square first announced in November 2017 that it would release a BTC trading option to a select 3 million of its Square Cash App customers. The announcement caused its stock to jump $1 billion in just five days. When the company rolled out support for BTC trading for customers across a more extensive range of U.S. states this February, Square’s stock increased yet again. Cash App lead Brian Grassadonia told Yahoo Finance in a separate report that..
U.S. Congressman Tom Emmer will introduce three bills to support blockchain and digital assets in the country. U.S. Rep. Tom Emmer (R-MN) is planning to introduce three bills to support blockchain technology and cryptocurrencies, according to a press release published September 21. The three upcoming bills are entitled the “Resolution Supporting Digital Currencies and Blockchain Technology,” the “Blockchain Regulatory Certainty Act,” and the “Safe Harbor for Taxpayers with Forked Assets Act.” The legislation is focused on the support and development of blockchain technology, as well as the establishment of a safe harbor for taxpayers with “forked” digital assets. The bills would prompt the federal government to provide a “simple legal environment,” and restrict fines against individuals who report “forked” digital assets until the Internal Revenue Service (IRS) presents formal guidance on the appropriate means of reporting. According to Emmer, “taxpayers can only comply with the law w..
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Crypto markets hold supporting levels with some small fluctuations, and Bitcoin is trading around $6,300. Wednesday, September 19: crypto markets are holding recent gains and fluctuating around previous support levels. While 16 out of the top 20 altcoins by market cap are seeing some red today, total market cap still hovers around recent levels, according to CoinMarketCap. Market visualization from Coin360 Bitcoin (BTC) is slightly down 0.12 percent over the past 24 hours, still holding the supporting level of $6,300 after dropping below that price point last week. Bitcoin is trading at around $6,334 at press time, and up about 0.48 percent over the past 7 days. Bitcoin weekly price chart. Source: Cointelegraph Bitcoin Price Index Ethereum (ETH) is seeing more minor losses today, down about .2 percent over a 24 hour period. After having dropped to as low as $127 over the past 7 days, Ethereum is trading at about $208 at press time, which constitutes around 12 percent gains over the ..