Coins

Cryptocurrency News Roundup for August 17, 2020

Source Node: https://beincrypto.com/cryptocurrency-news-roundup-for-august-17-2020/
Time Stamp: August 17, 2020 2:30 PM - Modified On: May 21, 2021 - Published By:
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More than nine out of ten bitcoins in supply are currently in the money, meaning they have yielded a higher return-on-investment for their owners over time. And this profitability is not just confined to the alpha-crypto. According to new data from cryptocurrency analytics firm, IntoTheBlock, nearly 95% of all Chainlink (LINK) and 94% of all VeChain (VET) addresses are currently in profit. In fact, barring a few exceptions such as Litecoin (LTC), most of the major wallet-bound altcoins are earning sizeable profits for their holders. More on that and other

Ethereum Price Falters Around $430 as ETH2 Testnet Experiences Outage

Source Node: https://bitcoinist.com/ethereum-price-falters-430-eth2-testnet-outage/?utm_source=rss&utm_medium=rss&utm_campaign=ethereum-price-falters-430-eth2-testnet-outage
Time Stamp: August 16, 2020 4:00 PM - Modified On: May 21, 2021 - Published By:
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Ethereum’s price has begun to falter after surging higher late last week. The cryptocurrency trades at $430 as of this article’s writing, which is a few percent below and a few percent above the local highs and lows, respectively. ETH is flat in the past 24 hours, trading down by a negligible 0.15%. The stagnation in the value of the leading cryptocurrency comes as the Ethereum 2.0 (ETH2) testnet has experienced an outage. It is unclear if the price action and outage are correlated, but ETH2 is a fundamental driver.

Two Attacks on ETC Network Leave Community Needing a Solution, Fast

Source Node: https://cointelegraph.com/news/two-attacks-on-etc-network-leave-community-needing-a-solution-fast
Time Stamp: August 16, 2020 9:15 AM - Modified On: May 21, 2021 - Published By:
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Ethereum Classic, a 2016 hard fork from Ethereum’s main blockchain, has suffered multiple concerning network attacks over the last two years. Two such attacks occurred within a seven-day span, totaling millions of dollars in losses. With the dust settling from the two 51% attacks, further details are now coming forward, as provided by a number of industry experts.“There is no debate about the attacks,” ETC Labs CEO Terry Culver told Cointelegraph on Aug. 7, answering a question on whether or not the network difficulties were in fact 51% attacks. “Community

Bull Runs, Mining, and Tor Attacks: Bad Crypto News of the Week

Source Node: https://cointelegraph.com/news/bull-runs-mining-and-tor-attacks-bad-crypto-news-of-the-week
Time Stamp: August 15, 2020 7:00 PM - Modified On: May 21, 2021 - Published By:
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Last week, the Bitcoin news was all about lift-off. This week, it’s all about the leveling off. Bitcoin ends the week around $11,400, a fall of about 2.7 percent over the last seven days. That drop included a correction of $700 in one day so the question now is whether the bullish moment has gone or will Bitcoin push on to $15,000? Its first mission will be to break the resistance at $12,000. Bitcoin failed to do that twice in ten days but consolidated after each failure, which some experts believe

Yam Finance Proposes Migration Plan After Rebase Failure Fiasco

Source Node: https://beincrypto.com/yam-finance-proposes-migration-plan-after-rebase-failure-fiasco/
Time Stamp: August 14, 2020 3:00 PM - Modified On: May 21, 2021 - Published By:
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Fresh from the failure of an attempted rebasing, Yam Finance is looking to engineer a migration to a new version of the protocol. Despite the initial hype that greeted its launch as the latest decentralized finance (DeFi) sensation, the project soon ran into trouble. A bug discovered in the rebasing contract meant inflation in YAM token minting. Yam Rescue, Take Two: Migration Yam Finance announced the proposal for the migration via a blog post on its Medium page on Friday. According to the statement issued, the move, if approved, will

$99 Gas Fees on Ethereum Are Crippling DeFi’s Growth

Source Node: https://cointelegraph.com/news/99-gas-fees-on-ethereum-are-crippling-defis-growth
Time Stamp: August 14, 2020 12:02 AM - Modified On: May 21, 2021 - Published By:
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The surging popularity of decentralized finance (DeFi) protocols on Ethereum (ETH) has contributed to skyrocketing fees, with the network processing an all-time high of $6.87 million in total fees yesterday. Speaking to Cointelegraph, Synthetix (SNX) founder and CEO, Kain Warwick warned that high fees were impacting the growth of DeFi, stating:“In the last three months, we’ve gone from an environment where DeFi was expensive to use and a little bit slow, to now, [where] for a lot of people it’s prohibitively expensive.”Ethereum fees have spiked nearly 100% over the past 24

Down to the Wire: Yam Finance Saved at the Last Minute

Source Node: https://cointelegraph.com/news/down-to-the-wire-yam-finance-saved-at-the-last-minute
Time Stamp: August 13, 2020 1:46 AM - Modified On: May 21, 2021 - Published By:
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After a tense day, the most talked about new decentralized finance (DeFi) protocol YAM Finance has overcome a near-catastrophic code error. The future of Yam Finance was abruptly thrown into question earlier today when a bug in the protocol’s code resulted in excessive YAM reserves being minted — rendering it “impossible to take any future governance actions.”The project quickly asked for community support, offering rewards to YAM miners and token-holders who were willing to pledge their tokens toward a pool of 160,000 coins to recapture governance over the protocol before the

Gold Tokens Reach Milestone Market Cap; Does This Pose a Threat to Bitcoin?

Source Node: https://bitcoinist.com/gold-tokens-reach-milestone-market-cap-does-this-pose-a-threat-to-bitcoin/?utm_source=rss&utm_medium=rss&utm_campaign=gold-tokens-reach-milestone-market-cap-does-this-pose-a-threat-to-bitcoin
Time Stamp: August 12, 2020 11:00 AM - Modified On: May 21, 2021 - Published By:
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Bitcoin and gold have been rising in tandem, as the dollar has been falling. It has also driven the growth of the market cap of digital gold tokens, backed by the precious metal commodity, to record highs. What exactly has caused this rapid growth in market cap, and does this pose any threat against Bitcoin? Market Cap of Commodity-Backed Gold Tokens Soars 1000% In 2020 Bitcoin and gold share several key similarities, such as supply scarcity. Bitcoin’s benefits soon begin to outweigh the precious metal, especially in terms of storage

Building on Taproot: Payment Pools Could Be Bitcoin’s Next Layer Two Protocol

Source Node: https://bitcoinmagazine.com/articles/building-on-taproot-payment-pools-could-be-bitcoins-next-layer-two-protocol?utm_source=rss&utm_medium=rss&utm_campaign=building-on-taproot-payment-pools-could-be-bitcoins-next-layer-two-protocol
Time Stamp: August 11, 2020 12:10 PM - Modified On: May 21, 2021 - Published By:
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This article is about a technological concept based on the proposed Taproot protocol upgrade. If you’re not yet familiar with the basics of how Taproot works, it’s recommended that you first read this explainer.Taproot, a potential upgrade to the Bitcoin protocol first proposed by Bitcoin Core contributor Gregory Maxwell, is in its late stages of development. The technology consists of a clever combination of crypto-tricks that would let users hide complex smart contracts inside regular-looking transactions — the complexity is only ever revealed if parties to a contract are uncooperative.Leveraging

Stocks Continue to Rally While Digital Assets Take a Breather

Source Node: https://www.bitcoinmarketjournal.com/digital-assets-take-a-breather/
Time Stamp: August 11, 2020 10:01 AM - Modified On: May 21, 2021 - Published By:
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The idea of the tooth fairy never made much sense to me. I don’t like the idea of presenting fiction as fact, especially to my children. My wife, on the other hand, is quite into it. For one thing, the economics are all messed up. Supposing there’s some kind of business or even a nonprofit, how does the Tooth Organization sustain the kind of overhead involved when every transaction results in a loss? The other thing is the timing, which almost never adds up. While you might be able to