- Vitalik Buterin: Increasing Transaction Costs Risk Limiting Ethereum Adoption ;
- Facebook Libra Already Facing an EU Antitrust Probe: Report ;
- Pieter Wuille Unveils ‘Miniscript,’ A New Smart Contract Language for Bitcoin ;
- Messari Disclosures Registry Tops 50 Cryptocurrencies With 11 New Additions ;
- Bitcoin Price Drops by $700 in Minutes After Failing to Crack $11K ;
- ? Daily Crypto Calendar, August, 21st?
- STEEM Trading Update
Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!
The increased cost of transacting on the ethereum blockchain is hurting the software’s adoption, says project creator Vitalik Buterin.
Speaking with the Toronto Star this week, Butertin suggested projects that are considering whether to build on the technology will likely be butted out as the blockchain is overloaded with transactions, or in his words “almost full.” (While a blockchain cannot ever be technically ‘full,’ Buterin’s comments indicate his current sentiment on the severity of the problem.)
Still, Buterin’s comments speak to his understanding of the difficulties ahead for the project, with major planned upgrades including Ethereum 2.0 and a switch to proof-of-stake consensus ahead.
He told the newspaper:
“If you’re a bigger organization, the calculus is that if we join, it will not only be more full but we will be competing with everyone for transaction space. It’s already expensive and it will be even five times more expensive because of us. There is pressure keeping people from joining, but improvements in scalability can do a lot in improving that.”
Ethereum’s seven-day transaction fee average, a measure of demand on the network, actually sits at a 50-day low, falling since July 1 to sit around 0.11 ether per transaction currently.
Facebook is reportedly already under investigation by the EU over antitrust issues related to its Libra cryptocurrency project.
A document seen by Bloomberg indicates that the European Commission is “currently investigating potential anti-competitive behavior” by the Libra Association. The report describes the document as a questionnaire suggesting the commission is concerned that Facebook’s planned digital payment system could unfairly lock out competitors.
The governance structure and membership of the Libra Association is apparently under scrutiny. A number of major companies including Mastercard and Visa have already signed loose agreements to partner with the Libra Association on the project.
Smart contracts could soon get a boost in bitcoin as prominent programmer Pieter Wuille has unveiled a new coding language designed specifically for their use.
Posted to the bitcoin developer mailing list Monday, the ‘Miniscript’ language aims to make it easier for programmers to write up “smart contracts” or conditions for spending bitcoins. Programmers Wuille, Andrew Poelstra and Sanket Sanjalkar have been working on the code for roughly a year, Wuille said.
Although it’s been shared around behind the scenes, Wuille said he is now posting it to the email list because it’s now it’s reached “a stage where I’d like to get it some more attention.”
Backing up a bit, “Script” is the smart contracting language in bitcoin, which allows users to specify certain conditions need to be met before the bitcoin can be spent. Say, funds are locked up until a certain time before they can be spent. Or, two people need to sign off on a transaction before the money can be moved, a concept called “multi-sig.”
This are how these rules are implemented in bitcoin’s Script:
OP_EQUALVERIFY OP_CHECKSIGVERIFY <144> OP_CSV OP_ENDIF
Eleven crypto projects announced Tuesday they had joined the Messari Disclosures Registry, including four top-100 projects by market cap: Cardano, Lisk, V Systems and Beam.
“The ability to find basic information on networks and their underlying tokens will be essential to responsible growth in the industry; and we’re thrilled to be working with such a great group to move the industry forward,” Ryan Selkis, Messari’s founder, told CoinDesk.
Bitcoin (BTC) price faced fresh bearish sentiment Aug. 21 after a rejection of $11,000 sent markets tumbling hundreds of dollars in minutes..
$9K Levels on horizon for Bitcoin price
Data from Coin360 shows BTC/USD topping out at just under $10,900 before reversing. Hours later, a sudden loss of support saw the pair dip to below $10,100 before bouncing slightly higher*
? Daily Crypto Calendar, August, 21st?
“We will be breaking down the basics of blockchain and crypto in this interactive intro session at 301 Howard Street First Floor,SF.”
“Come by to learn more about Ethereum Classic Labs’ accomplishments over the past year of advancing the Ethereum Classic technology…”
“This Wednesday, we’re hosting a testing session with @TestessenBerlin for our wallets and website at the Atrium Tower offices.”
“We invite you to our DEV AMA on Telegram. When: 5pm EST Wednesday 21st August .”
“Launch of a campaign to attract international organizations from 67 countries in the field of wildlife protection, improvement of…”
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yersterday :
Here is the current chart :
Today, we validated the testing of the resistance line at 0.18$ but we failed to break it and so we are currently having a rejection. Except if the BTC is starting a new correction, I think we should try soon to break this line again in the coming hours. The worst case would be that we go test the support line related to the previous low around 0.165$.
- ? Daily Crypto News, August, 20th ?
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