Pros and cons of the calm weekMar 4, 2019
Over the past seven days, the majority of cryptocurrencies with a capitalization of more than $1 billion had losses, but they were insignificant. Outsiders EOS (EOS) and Bitcoin Cash (BCH) lose a little more than 8%, while the growth leaders are Binance Coin (BNB) and Bitcoin SV (BSV) – adding only 2% and 3%, respectively.
Ethereum solves the problem of limited Bitcoin functionality
Vitaly Buterin, the co-founder of Ethereum, said that creating his project, he planned to solve the problem of the limited functionality of the first cryptocurrency. Buterin compares BTC with a calculator and ETH with a much more powerful smartphone.
“So, basically taking that same kind of idea of increasing the power of the system by making it more general purpose and applying it to blockchains,” said Buterin.
It’s too early to say whether the co-founder of Ethereum managed to achieve the goal and whether it is moving in the right direction. Besides, ETH remains the most popular platform for the blockchain.
Bittrex Cryptocurrency Exchange had a $1.5 million round of start-up financing for the South African VALR cryptocurrency platform.
“Companies are not allowed to go and buy crypto from offshore markets. This makes it very difficult for crypto exchanges in South Africa to access liquidity from international markets. [South Africans] want their hands on a store of value that doesn’t depreciate the way the rand has.” said Ehsani, the co-founder and CEO of VALR.
During the beta testing, 1,500 users registered on the platform, most of them live in South Africa. Today, 50 cryptocurrencies are available for trading on this platform. Bittrex will take part in VALR operations, providing the platform with global liquidity and competitive prices for trading cryptocurrencies. Ehsani noted that closer to the summer it is planned to add crypto-fiat trading.
JPM Coin – VS – XRP
After the announcement of JPM Coin, many experts stated that the days of the XRP are numbered. In most cases, their opinions were based on the scale of JPMorgan Chase. But the research division of
“Large banks and financial institutions […] have a distinct set of advantages in issuing fiat-collateralized
In this case, JPM Coin may become available to the general consumer.
“JPMorgan Coin could be internal, could be commercial, it could one day be the consumer.”, said Jamie Dimon, at a question-and-answer session.
Therefore, the claim that JPM Coin is not a direct competitor to XRP is not entirely correct. More accurate, this statement should be: “in the near future, JPM Coin will not compete directly with XRP token”.
Constantinople Hard fork
The Constantinople Hard fork significantly reduced the average block time in the Ethereum network. Now it is at a record low of 12.5 seconds. It is also noteworthy that earlier this indicator dropped during the transfer of “activation of complexity bomb” to 13.5 seconds, but soon the average block time increased.
A faster block time also means that daily emission has also slightly increased: if immediately after the Constantinople upgrade it has dropped to 12800 ETH, now this figure is about 13600 ETH. It is expected that in the future the level of daily emissions will stabilize at the level of 13000 ETH.