Ethereum is what is known as an open-source, blockchain-based, distributed computing platform. It has smart contract features that enable the processing of contractual agreements online. These smart contracts can be used to process the transfer of assets, such as shares, property, and money. When a smart contract is run on a blockchain, it becomes a self-operating program. It will automatically execute once certain predefined conditions have been met.
And while Ethereum fans crow about there being 12 times more wrapped bitcoin on their platform than the mere $9 million locked in the Lightning Network’s payment channels, the latter is making inroads in developing nations as a payment network for small, low-cost bitcoin transactions. Unlike WBTC, which requires a professional custodian to hold the original locked bitcoin, Lightning users need not rely on a third party to open up a channel. It’s arguably more decentralized.
Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN. Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.
ETHEREUM VS BITCOIN: NO SABIAS ESTAS DIFERENCIAS ¿QUÉ ES ETHEREUM?
Two of these DeFi platforms are AAVE and Compound and you should zip over and take a look. I had some Ethereum sploshing about so I popped $23 worth in and in seconds I was watching the value tick up 79 billionth of a dollar every second or so. I’m going to have to wait a year to make a $1 but that’s not the point. I just opened a deposit account in one minute, transferred money into it in seconds and now I’m watching it grow instantaneously and that purely from landing on the beach of a new continent of financial services that can spin off from this.
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For comparison, Decenter reports that similar phrasing in ad campaigns that replace “ethereum” with “eos” such as “eos smart contract audits” are still available for use through Google Ads and being featured in campaigns. While it’s unclear how broadly the ban has been applied to cryptocurrency, or whether it extends to any coins outside of Ethereum, Reddit users and Ethereum enthusiasts have begun an uproar over the selective censorship. The top comment by user u/ThePlague lambasts Google for promoting an agenda, stating that the company has been far from neutral in handling various forms of advertising on its platform, including cryptocurrency,
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (0.0251). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . ETHBTC is in a range bound and the beginning of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. ....
The yield cap policy would be new for the Fed, but it’s really an extension of an ongoing effort to do one thing: get the market to believe its intentions. The way monetary policy works these days, it’s meaningless unless the market behaves according to what the Fed wants. It’s not about what the central bank does per se; it’s about what it says and whether those words are incorporated into investor behavior. But the more it doubles down on this, the more the Fed creates situations in which it risks having its words held against it. And that puts it at risk of losing its most important currency: the public’s trust. Commitments to price targets are always especially risky – ask Norman Lamont, the U.K. Chancellor of the Exchequer, who had to abandon the pound’s currency peg in 1993 because the market didn’t believe the U.K. would back its promises. The Fed has unlimited power to buy bonds, but whether it always has the will to do so will depend on politics and other factors. Once it’s locked into a commitment, the stakes go up. For now, the markets – most importantly, foreign exchange markets – still trust the Fed. But, as the saying goes, trust is hard to earn, easy to lose.
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ZIMBABWE ACCIDENTALLY LEAVES DOOR OPEN FOR CRYPTO. Here’s a recipe for creating a fertile environment for alternative payment systems: outlaw the system everyone is currently using. When the Zimbabwean government made the nutty step of banning digital payments – used for 85% of transactions by individuals, due to severe shortage of cash – it clearly wasn’t trying to promote bitcoin. In forcing people to go to a local bank to redeem funds locked in popular payments apps such as Ecocash, its goal was to protect the embattled Zimbabwean dollar. In a statement, the Reserve Bank of Zimbabwe, said the move was “necessitated by the need to protect consumers on mobile money platforms which have been abused by unscrupulous and unpatriotic individuals and entities to create instability and inefficiencies in the economy.” The thinking is that Ecocash, which enables currency trading, is making it easier for people to dump the local currency. But here’s the thing: Ecocash, which said it suspended cash-in-cash-out functions (presumably because its banking lines will be cut) is still keeping in-app payment facilities open. And it said nothing about stopping its fairly popular service allowing people to buy cryptocurrency. Not surprisingly, since the ban “demand for bitcoin has skyrocketed,” according to African crypto news site, bitcoinke, with “sources claiming bitcoin is now selling at at 18% premium above the market rate.”
Ethereum is another use-case for a blockchain that supports the Bitcoin network, and theoretically should not really compete with Bitcoin. However, the popularity of ether has pushed it into competition with all cryptocurrencies, especially from the perspective of traders. For most of its history since the mid-2015 launch, ether has been close behind bitcoin on rankings of the top cryptocurrencies by market cap. That being said, it's important to keep in mind that the ether ecosystem is much smaller than bitcoin's: as of January 2020, ether's market cap was just under $16 billion, while bitcoin's is nearly 10 times that at more than $147 billion.
TRUST ME, BOND MARKET, PLEASE. James Glynn at The Wall Street Journal had a piece this week about how the Federal Reserve is considering following Australia’s lead in using “yield caps” as a policy tool to keep long-dated interest rates down. The thinking is if the central bank explicitly signals it will always institute bond-buying if the yield on a benchmark asset such as the 10-year Treasury note rises above some predefined ceiling, the market will be less inclined to prematurely believe the Fed is going to start tightening monetary policy. In other words, we won’t see a rerun of the 2013 “Taper Tantrum,” when the U.S. bond market, worrying that the Fed would start tapering off its bond-buying, or quantitative easing, drove down bond prices, which pushed up yields. (For bond market newbies, yields, which measure the effective annual return bondholders will earn off a bond’s fixed interest rate when adjusted for its price, move inversely to price.)
You earn free Ethereum by spinning a wheel of fortune wheel. The number of spins that you can have is determined by the “energy” that you have in reserve. Energy regenerates itself slowly, or you can watch videos to top up your energy faster. You need to accumulate 10,000 Gwei before you can withdraw your winnings. But, that doesn’t take as long to do as you have thought.
Though it’s too early to know who the eventual winners will be, I believe this trend captures the early beginnings of a new, decentralized global financial system. So to describe it, an analogy for the existing one is useful: bitcoin is the dollar, and Ethereum is SWIFT, the international network that coordinates cross-border payments among banks. (Since Ethereum is trying to do much more than payments, we could also cite a number of other organizations in this analogy, such as the International Swaps and Derivatives Association (ISDA) or the Depository Trust and Clearing Corporation (DTCC).)
Gold has had at least three millennia to establish itself as a store of value people turn to when social systems are in stress. Bitcoin has only existed for 11 years. While plenty of investors are willing to speculate on the possibility bitcoin might supplant or compete with gold, the idea is far from ingrained across society. When will it be more widely accepted? Perhaps when the international crisis of global leadership unleashed by COVID-19 undermines the capacity of institutions like the Federal Reserve to sustain economic and social confidence. Whatever new institutions and systems we create going forward will need to address how the internet has upended society’s centralized systems of governance. When that happens, we’ll need a decentralized, digital reserve asset as the base value layer. As I said, it will take time. Meanwhile, the developers will keep building.
DeFi’s ‘Agricultural Revolution’ Has Ethereum Users Turning to Decentralized Exchanges. DEX, often touted as a fairer and safer way to trade cryptocurrencies, might finally have its use case: yield farming. In the past, as Brady Dale reports, most people haven’t wanted to self-custody, preferring institutions to manage the risks of holding their keys for them. But in DeFi, where people undertake dual borrowing-and-lending schemes to make big, quick returns on incentives and high interest rates, is better if you control the keys during the trade. And decentralized exchanges are seizing the opportunity.