Connect with us

Blockchain

Ethereum 2.0 delayed until 2021? Vitalik Buterin disagrees

Avatar

Published

on

In a Reddit Ask-Me-Anything earlier today, Ethereum Foundation researcher Justin Drake said that Ethereum 2.0 might not launch until January 2021, far later than the 2020 release that the Foundation is pushing for.

It would mark yet another delay for ETH 2.0, which has suffered several setbacks throughout the year. So are we in for another one?

Not so fast, said Ethereum co-founder Vitalik Buterin, in response to Drake on Reddit. Ethereum 2.0 “might happen far sooner,” he wrote in a comment.

Ethereum 2.0 is the next version of the Ethereum blockchain. It transitions the network from a proof-of-work system—where transactions are validated by power-hungry miners—to proof of stake, one where users are rewarded for locking up their coins. It’s been in the works for years.

For the launch to happen, Ethereum 2.0 would need, among other things, a public testnet and a bug bounty program running for two to three months, said Drake. “All the above cannot happen in Q3 2020,” he said. “I’m now inclined to say that the earliest practical date for genesis is something like January 3, 2021 (Bitcoin’s 12th anniversary).”

Buterin disagreed in a reply to Drake’s AMA. For him, it’s full steam ahead. “I personally quite disagree with this and I would favor launching phase 0 significantly before that date [January 2021] regardless of level of readiness,” he said. “I’d argue the four-month clock started ticking for us at the beginning of July,” he said, in reference to this month’s launch of Altona, a testnet for Ethereum 2.0.

Ethereum Foundation researcher Danny Ryan also thinks that Ethereum 2.0 will launch this year: “I and others are still putting money on 2020,” he commented in the Reddit AMA. “I’ll note that others at the EF are more optimistic than me by a handful of weeks,” Drake responded. 

Why does Buterin think Ethereum 2.0 is still on track to launch this year? 

Buterin said that the first phase of Ethereum 2.0 “is in some ways simpler than eth1 and in some ways more complex.” The rollout of a proof-of-stake network, a departure from the current proof-of-work system, is among its complexities, but no more difficult to implement than the original blockchain, according to Buterin.

“I’m inclined to say eth2 phase 0 is a little simpler on-net. Also, eth2 is not going to have any critical applications depending on it until phase 1, so the practical risks of breakage are lower,” he said. “So on the whole I see no reason to take more time for the eth2 phase 0 launch cycle than we did for the eth1 launch,” he concluded. 

Drake didn’t bite. “The unfortunate reality is that we’re not there yet from a security standpoint. There’s no bug bounty program, no differential fuzzing, no incentivized attack net.”

So when Ethereum 2.0? Your guess is as good as ours.

Source: https://decrypt.co/35210/ethereum-2-0-delayed-vitalik-buterin-disagrees

Blockchain

Billionaire Mike Novogratz Builds Bitcoin Position on Prescience

The sentiment in the crypto community has shifted now that the bulls are back in charge. With the bitcoin price trading within striking distance of $12,000, investors know from experience that this could be just the beginning of another major rally. Billionaire investor Mike Novogratz seems to think so. The Galaxy Digital chief tweeted to […]

The post Billionaire Mike Novogratz Builds Bitcoin Position on Prescience appeared first on BeInCrypto.

Avatar

Published

on

The sentiment in the crypto community has shifted now that the bulls are back in charge. With the bitcoin price trading within striking distance of $12,000, investors know from experience that this could be just the beginning of another major rally.

Billionaire investor Mike Novogratz seems to think so. The Galaxy Digital chief tweeted to BeInCrypto that he added to his bitcoin position on Oct. 19, a decision made on prescience leading into a rally on Oct. 20.

And it’s what he had to say about where the BTC price is headed that could give investors a chance to capitalize on the momentum.

Novogratz expects that once bitcoin takes out $12K, not only does it move higher from there but it will do so quickly. He points to the fundamentals, including “too much demand from new participants,” as the catalyst. Novogratz told BeInCrypto,

Advertisement

Continue reading below

Bitcoin’s Rough Resistance

The $12K level is an important threshold for several reasons. Many consider it tough resistance and the BTC price has not been able to overcome it of late. Recent sessions have seen it remain stuck between the $10,000 and $11,000 area.

Once bitcoin manages to reattain this milestone, the last time of which was August 2020, pundits argue it could be off to the races again.

Bitcoin bull Ivan on Tech, who posts daily videos on YouTube where he has more than 260,000 subscribers, has been giving the play-by-play. He pointed out on Oct. 20 that the bitcoin price actually went straight to $12,000 but got rejected there, which according to him is “all according to plan.”

Once the bitcoin price successfully breaks this level, Ivan on Tech is expecting big things, exclaiming in a tweet,

“Bitcoin will break $20,000 like a massive BOSS.”

The entire crypto community is likely glued to their screens to see if history repeats and the bitcoin price rallies to the moon.

Source: https://beincrypto.com/billionaire-mike-novogratz-builds-bitcoin-position-on-prescience/

Continue Reading

Blockchain

Latvian Financial Watchdog Issues Crypto Fraud Warnings

Latvia’s  Financial and Capital Market Commission (FCMC) has issued a notice to investors to refrain from indulging in malicious digital currency platforms and fake opportunities. The regulator also listed some “signs of fraud” to help individuals identify these deceptive practices. In an official statement published by the FCMC, investors were urged to stay vigilant against […]

The post Latvian Financial Watchdog Issues Crypto Fraud Warnings appeared first on BeInCrypto.

Avatar

Published

on

Latvia’s  Financial and Capital Market Commission (FCMC) has issued a notice to investors to refrain from indulging in malicious digital currency platforms and fake opportunities.

The regulator also listed some “signs of fraud” to help individuals identify these deceptive practices.

In an official statement published by the FCMC, investors were urged to stay vigilant against the growing number of investment opportunities that target individuals across different channels.

According to the FCMC, cryptocurrencies, and associated platforms within Latvia function with a lower degree of regulation when compared to many other financial markets. It claims this makes attacks more prevalent in the country.

The regulators also mentioned that these attacks might be difficult to detect at first because they oftentimes use “the names and images of renowned companies.”

Advertisement

Continue reading below

Uptick in Fraud

Many online advertisements used for fraud purposes lead unsuspecting victims to fancy websites that give them a false sense of security.

The FCMC noted that online fraudsters are constantly on the watch for new ways to extort money from potential victims and that they will often contact investors via email or other popular social media platforms, and even sometimes by phone.

The scammers normally try to mislead investors into buying currencies that don’t exist, refuse withdrawals, or demand that they pay exorbitant amounts for transfers of funds.

The FCMC has welcomed residents to check with the watchdog in order to verify the legitimacy of any platforms or services before actually investing any money. The regulator also listed verified financial service providers on its website.

Source: https://beincrypto.com/latvian-financial-watchdog-issues-crypto-fraud-warnings/

Continue Reading

Blockchain

Upgraded XMR Becomes Best Performer Among Top 15 Coins: Analysis

The upgraded XMR coin becomes the best performer among the top 15 coins by market capitalization as we are reading more in our latest monero news. The privacy-focused cryptocurrency became the best performing coin among the top 15 tokens by market cap after it launched the network update over the past week. The upgraded XMR […]

Avatar

Published

on

ADVERTISEMENT

The upgraded XMR coin becomes the best performer among the top 15 coins by market capitalization as we are reading more in our latest monero news.

The privacy-focused cryptocurrency became the best performing coin among the top 15 tokens by market cap after it launched the network update over the past week. The upgraded XMR ranked 14th by market cap and trades at $127, increasing by 5% in the day, trimming the weekly losses to less than 4%. At the same time, other major coins from the top 15 which are less than 3% in a day. XMR increased today after a slight reaction to the expected update which was launched on Saturday.

Initially announced in August 2020, Monero’s latest Oxygen Orion update brings some more important improvements to the network at a time when the regulators are getting increasingly worried about the privacy coins. The latest update brings the so-called compact linkable spontaneous anonymous group feature.

coinpaprika
Source coinpaprika.com

As per the Monero blog, the CLSAG update allowed smaller and tighter transactions and will also reduce the transaction size by about 25%. This will also improve the transaction times by 10% and will bolster privacy with Dandelion ++ which is a feature that aims to protect users’ IP addresses. The latest update release comes not too long after another speed and security-centric upgrade named Nitrogen Nebula was launched which was one of the many upgrades that went live in the past few months.

ADVERTISEMENT

Right before the release, Monero enjoyed an increase in price and moved up by about 35% in a month and 125% in a year while the US Department of Justice released a new report that explains the risks of end-to-end encryption along with the US Internal Revenue Service which declared war on privacy coins, offering a bounty of about $625,000 to crack Monero’s privacy code.

Monero approaches key resistance, xmr, privacy

Now, Monero scales up to 20 times while compared to the other upgrades, there will be no change to Monero’s mining algorithm was frequently modified to disadvantage the ASIC miners. The project’s upgrade from 2019 included RandomX which means that the network no longer needs changing to its mining algorithm for ASIC resistance. Though not directly related to the upgrade the development of the community project is progressing. The community developers have been working on the atomic swap which allows users to exchange Monero for other coins. The proposal for the project has reached full funding as of late.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

Source: https://www.dcforecasts.com/monero-news/upgraded-xmr-becomes-best-performer-among-top-15-coins-analysis/

Continue Reading
Finland
Esports29 mins ago

FunPlus Phoenix in talks to sign GODSENT roster

Energy41 mins ago

Hycroft Appoints Stanton Rideout As Executive Vice President & Chief Financial Officer

Energy1 hour ago

GWS Tool Group Announces Acquisition of STF Precision (STF)

Energy1 hour ago

Global Print and Apply Labeling and Labeling Equipment Market Outlook to 2027

Energy2 hours ago

Algonquin Power & Utilities Corp. Announces Dates for Third Quarter 2020 Financial Results and Conference Call

Energy2 hours ago

Lida Resources Unaware of Any Material Change

Energy4 hours ago

American Electric Power Receives First NAPPC Pollinator Electric Power Award

Energy4 hours ago

Garrett Announces Acquisition

Energy5 hours ago

NASA, Department of Energy Expand on More Than 50 Years of Collaboration

Energy5 hours ago

GivePower Foundation Receives $1 Million Donation from Silicon Valley Technology Veteran Chris Larsen

Energy5 hours ago

AEP Increases Quarterly Dividend To 74 Cents A Share

AR/VR6 hours ago

From Environmental to Social: XR Tackles Global Issues

AR/VR6 hours ago

New Japanese PlayStation VR Bundles to Include Camera Adaptor for PlayStation 5

Energy7 hours ago

McKim & Creed Acquires­ Water Loss Recovery and Control Firm

Energy7 hours ago

Global Cable Management Market (2020 to 2027) – by Type, and End-user

AR/VR7 hours ago

Qualcomm’s XR Enterprise Program Doubles Membership, Includes Holoride, OssoVR & Talespin

Energy7 hours ago

Worldwide Industry for Cables and Connectors to 2027 – Growing Number of Data Centers Presents Opportunities

Energy7 hours ago

Xinhua Silk Road: La transformación verde es vital para el desarrollo del carbón de coque y la cooperación energética de la B&R

Automotive7 hours ago

ALYI Highlights Next Steps

Energy8 hours ago

Field Squared Selected by TRC to Embolden Digital Transformation of Its Utility Service Operations

Crowdfunding8 hours ago

The Worst Way to Respond to Any Market Crash

Blockchain8 hours ago

Billionaire Mike Novogratz Builds Bitcoin Position on Prescience

Entrepreneur8 hours ago

It’s Time for You to Rise Up!

Entrepreneur8 hours ago

If You’re Not Using a CRM System for Your Small Business, You’re Wasting Time and Money

Patents8 hours ago

New electroactive bacterium for wastewater treatment

Blockchain8 hours ago

Latvian Financial Watchdog Issues Crypto Fraud Warnings

Cannabis8 hours ago

PURA Concludes Farmersville Meetings – Deal Imminent

EdTech8 hours ago

Blended Learning Best Practices (with Catlin Tucker) – SULS085

Entrepreneur8 hours ago

This CEO Doesn’t Look at Resumes When Hiring

Entrepreneur8 hours ago

Virtual Meeting Etiquette Guide for Hosts and Attendees

Entrepreneur9 hours ago

9 Ways to Add Revenue to Your Marketing Agency Before 2021

Blockchain9 hours ago

Upgraded XMR Becomes Best Performer Among Top 15 Coins: Analysis

Coinpedia9 hours ago

Brookmount Explorations, Inc. Reports Record 3rd Quarter Earnings

Blockchain9 hours ago

Billion Dollar Companies Interested In DeFi, As Crypto.com Study Shows

Biotechnology9 hours ago

PAOG Advances FDA Application Process For Respiratory Cannabis Drug Treatment

AR/VR9 hours ago

Survios Releases ‘Combat Rebalance Patch’ for The Walking Dead Onslaught

Blockchain9 hours ago

Hackers Donate Stolen Bitcoin To Two Different NGOs: Report

Patents9 hours ago

EIP and Osborne Clarke successful for PanOptis against Apple

Blockchain10 hours ago

DASH Breaks Out From Long-Term Bullish Pattern

Coinpedia10 hours ago

ZICIX Set to Modernize the Coupon Industry with an Innovative, Integrated Smartphone App and Dashboard Solution

Trending