Thomas Hughes

Dash Automatic InstaSend – A Major Game Changer?

Dash is set to perform a major update to their InstaSend feature to make all transactions instant, secure and permanent
Dash Automatic InstaSend – A Major Game Changer?

Dash is set to perform a major update to their InstaSend feature to make all transactions instant, secure and permanent. This could be a major step towards using cryptocurrency as a viable day-to-day payment method.

Currently, InstaSend comes as an optional feature that has be manually activated by the user and that incurs an additional transaction fee. With the addition of the new Automatic InstaSend, all “simple” transactions (about 90% of all transactions) will benefit from the instant settlement, which will make paying with Dash as fast as “traditional” methods. Also, InstaSend will not incur an additional fee.

Chart Analysis – DASH/USD

Chart Analysis – DASH/USD

Despite the positive news, Dash has been sliding lower and losing almost 20% against the US Dollar during the last 7 days and close to 5% for the last 24 hours. Currently, it is trading just above $78 and has broken the previous low.

The technical picture looks very much bearish for Dash, and all we can expect right now is a bullish retracement because the downtrend is overextended. A reversal is unfortunately not in sight, at least not based on technical reasons.

The previous support at 86 has turned into resistance and the pair has reached a low at 74, which is now turned to support. As seen from the above 4H chart, the price has printed a rejection candle (long lower wick) right on said support level but it seems to lack strength (small candle body, multiple Doji candles just before it). If we are going to see a correction higher, the first target is 86 and the bearish trend line seen on the chart.

Support zone: 74

Resistance zone: 86 and the bearish trend line

Most likely scenario: bullish correction into resistance (no break expected for the short term)

Alternate scenario: break of 74 support and drop into 70 which is the next BRN (big round number)

views
👓 Recommended articles
Wikicoin George Shnurenko

EOS Price Prediction- How Much Will EOS Cost in 2018-25?

📚 Wikicoin
Finance-savvy investors started putting a heavy focus on EOS. Let’s find out what experts think about it.
EOS Price Prediction- How Much Will EOS Cost in 2018-25?
Contents

 

EOS is becoming a popular currency among investors. Is it worth buying, and what’s EOS price prediction for the following years? Find out how much EOS coin may cost in 2018, 2020 and further on.

Although Bitcoin is still dominating the cryptocurrency market, there are a large number of new promising coins appearing. One of them is EOS cryptocurrency– the token introduced by EOS.io infrastructure for decentralized applications. Finance-savvy investors started putting a heavy focus on this coin, and some already started buying thousands of coins inspired by optimistic price prediction for EOS. Let’s find out what experts think about it.

💼 Related Article
EOS Security Vulnerabilities: David Moss of Block.one Responds to 360 Report
🔥 Hot
6 months 3 weeks
256
EOS Security Vulnerabilities: David Moss of Block.one Responds to 360 Report

What is EOS?

Being a relatively new cryptocurrency, EOS hasn’t turned into a buzzword yet, so we should shed some light on what is it, and where this asset came from.

EOS.io is a Blockchain-based infrastructure for development and hosting of decentralized applications that has rocked the boat of traditional similar ecosystems: it solves the problems of transaction processing speed and is more technologically advanced than Ethereum and Bitcoin Blockchains.

No one knows what EOS stands for (“Ethereum on Steroids”,“Endless Online Scaling”, and some other versions exist). The tokens are issued by EOS.io project that’s controlled and developed by block.one company. The amount of emitted tokens is 1 bln, and they CANNOT be mined– you can obtain the currency by making investments.

What makes EOS special? The Block One platform leverages smart contracts that allow executing maximum 50,000 transactions for every second! This is much higher than the majority of existing Blockchains. With the help of scaling, Block One solves the problem of slow Blockchain-based transactions which makes this platform superior.

💼 Related Article
Why Bitcoin Price Can Reach $29,000 Target by 2020: Three Reasons
🔥 Hot
6 months 2 weeks
256
Why Bitcoin Price Can Reach $29,000 Target by 2020: Three Reasons

EOS price prediction 2018

Initially, EOS tokens issued for sale in 2017 cost less than $1. By the end of 2017, its price has grown, and EOS 2018 price prediction seems to be justified: in January of this year, it has reached $13.063 according to the website’s records.

In May 2018, EOS cost is about $12– not asignificant fluctuation. Experts claim that the best tactics are to make long-term investments for at least a year. Why?

According to EOS coin price prediction 2018 from professional traders, in December of this calendar year, it will reach about $37. Therefore, your current investment can pay off three-fold. Every $100 you invest can turn into $300, which isn’t bad.

EOS price prediction 2020

Say, the EOS platform developed by block.one is thriving in 2019 (there’s no tendency that it may lose authority). What will be a realistic EOS price prediction for the following years?

  • The overall market cap of the company can go up by four times.

  • If Bitcoin and Ethereum slightly lose their dominance (for instance, their rate decreases by 15 percent), EOS can reach top-3 with $70 bln market cap, which means one EOS will reach $70.

Even according to the most pessimistic forecasts, EOS will reach at least $20 in 2019 and about $30 in 2020.

For EOS price to grow, several things should happen. First, well-developed governments like US and China should establish regulations for new currencies to enter the market.

Secondly, EOS community and communities of other altcoins should grow considerably to hinder the monopoly of Bitcoin and Ethereum on the market.

According to TradingBeasts community, EOS cryptocurrency price prediction 2020 is from $37 in January to $51 in December. These numbers seem to be close to reality.

💼 Related Article
EOS vs. Ethereum - Which Сoin is More Promising?
🔥 Hot
6 months 2 weeks
256
EOS vs. Ethereum - Which Сoin is More Promising?

EOS price prediction 2025

All that sounds good, but let’s go further. Remember we mentioned that EOS is good for long-term investments?

Let’s make simple calculations: every $100 spent will give you 7.655 EOS now. In 2022, the price of currency can start from $60-80 in January, and your investment can turn into some $900 or higher. Five-year forecast is around $143.

Therefore, in 2025, EOS price can reach minimum $200. Your investments made now can pay off considerably– the appreciation gained by the platform is considerable.

Year

EOS price prediction (average)

2018

$22

2019

$31

2020

$46

2022

$70

2025

$140-200

💼 Related Article
Past ICO Review: EOS, an ICO Success Story
🔥 Hot
8 months
256
Past ICO Review: EOS, an ICO Success Story

What the cost depends on?

Crypto experts claim it can soon be in the Top-3 cryptocurrencies along with Bitcoin and NEO. Why EOS has such a huge potential? If you look at the EOS platform developed by Block One, it is highly scalable and versatile: companies can easily use it as the foundation for various applications. With parallel execution, running decentralized applications becomes simple. With EOS features and power, companies will need less IT maintenance. Today, this is one of the most cost-efficient ways to organize online infrastructure.

There’s the whole gamut of factors that influence EOS future price prediction.

  1. The value and a market cap of other major cryptocurrencies (Bitcoin, Ethereum, NEO, and others).

  2. Development of EOS Blockchain (which is expected to grow at the exponential rate).

  3. Implementation of cryptocurrencies by governments.

Since EOS offers a superb Blockchain architecture and, which is important, doesn’t charge any fee for transactions, this platform would be interesting for millions of users all over the world. Therefore, the chances it will be a leading coin are very high.

Bottom line

Starting from the price launch prediction EOS has justified the forecasts made by leading cryptocurrency experts, and the tendency remains the same.

The Block One company came up with a truly revolutionary product that can change the future of online enterprise infrastructure. Of course, just like any other Blockchain-based infrastructure, this one isn’t perfect, but the creators are dealing with issues efficiently.

If you want to invest into crypto for a long run, pay attention to EOS: it is truly worth it. Many stakeholders are inspired by positive forecasts concerning the coin pricing, and there are simply no reasons for it to crash. Besides, EOS has enough potential and power to withstand competition with other major cryptocurrencies.

💼 Related Article
10 Bitcoin Millionaires: People Who Became Rich From Cryptocurrency
🔥 Hot
6 months 2 weeks
256
10 Bitcoin Millionaires: People Who Became Rich From Cryptocurrency

Wikicoin
views
👓 Recommended articles
Wikicoin George Shnurenko

Bitcoin 51% Attack: How It Works, How Much Bitcoin 51 Attack Costs

📚 Wikicoin
51% attack Bitcoin occurs when more than half of the hash rate decides to verify certain transactions leaving others unverified
Bitcoin 51% Attack: How It Works, How Much Bitcoin 51 Attack Costs
Contents

With cryptocurrencies that use Proof of Work for transactions, the setup of the node is such that priority is given to the Blockchain network which has the most blocks. Having the most block also loosely translates into having the most hashing power so anyone with such power can exploit it to manipulate transactions. How is the Bitcoin 51 percent attack even possible? Let’s find out.

💼 Related Article
ZenCash (ZEN) Suffers 51 Percent Attack, Crypto Exchanges Warned
🔥 Hot
6 months 2 weeks
256
 ZenCash (ZEN) Suffers 51 Percent Attack, Crypto Exchanges Warned

What is a Bitcoin 51 Attack?

A 51 percent attack is said to be imminent when an individual (not likely) or a group of people join forces to control more than 50 percent of the mining power of a blockchain network. The security of Bitcoin is hinged on different miners putting in an effort towards verifying and completing transactions on a shared ledger. This decentralized ledger is known as the Blockchain.

51 percent attack on Bitcoin occurs when the entity with more than half of the hash rate then decides to verify certain transactions on the Blockchain network and leaves others unverified. This also allows them to spend their coins (confirm their transactions) more than once. This occurrence during a 51 percent Bitcoin attack is known as double spending.

💼 Related Article
5 Ways to Earn Passive Income with Cryptocurrency
🔥 Hot
6 months 2 weeks
256
5 Ways to Earn Passive Income with Cryptocurrency

What is the current cost of a 51% attack?

Knowing the benefits of this kind of power, it is quite difficult to carry out. In fact, the variables involved can get very complex but don’t worry, we’ll simplify it for you. You should also note that the more expensive the attack is, the more secure the Blockchain network is perceived to be from a 51 percent attack.

What Factors Affect the Cost of a 51 Attack on Bitcoin?

Some of the factors to consider are mentioned below.

  1. The network hash rate in GH/s

  2. The hash rate of the hardware

  3. The power consumption of the hardware

  4. The electricity cost per day

  5. How much it costs to cool the hardware

  6. How difficult it is to mine normally

  7. The reward obtained from mining

  8. The cost of hardware and other components used to mine the coins

  9. The disparity between the cost of mining and the market price

  10. The location where mining occurs

  11. The cost of maintenance

💼 Related Article
CryptoKitties Co-Founder Benny Giang: Spend a Week Understanding Why Crypto Matters to You
🔥 Hot
6 months 2 weeks
256
CryptoKitties Co-Founder Benny Giang: Spend a Week Understanding Why Crypto Matters to You

The cost of a Bitcoin 51% attack

Bitcoin remains the largest and most popular cryptocurrency at the moment. Valued currently at $6,000 with a market cap of about 131.83 bln, you can understand what there is to gain when you successfully get hold of 51 percent control.

The hash rate is currently about six exahashes per seconds. Considering the most efficient ASIC miner with a hash rate of about 13,000 GHS (using the SHA-256 algorithm) being sold for about $2,100, an attacker will require about 500,000 hardware units and this will amount to about $1,005,000,000. When we factor in the cost of electricity and cooling daily, this figure rises to $1,006,000,000.

The cost of Ethereum 51% attack

As the second largest cryptocurrency with a market capitalization of about $60 bln, crypto enthusiasts believe that it has the potential to usurp Bitcoin and become the next best cryptocurrency in the market.

It has a network hash rate of about 77 GH/s and the Radeon RX480 seems to be the best option for mining. It costs $199 with a hash rate of about 0.025 GH/s. purchasing just three mln units should suffice to gain 51 percent share of the Ethereum network and this will cost $616,000,000. Including the cost of electricity and cooling, it will approximately be $617,000,000.

💼 Related Article
DomRaider is a no Bidder: Past ICO Review
🔥 Hot
6 months 2 weeks
256
DomRaider is a no Bidder: Past ICO Review

How to reduce the risk of Bitcoin 51% Attack

The 51 percent attack on Bitcoin is, in no way, an assurance. Having 51 percent computing power doesn’t guarantee that you’ll be able to commit any fraudulent activity. However, we still need to put in work to prevent this from happening.

Questions concerning Bitcoin 51 attack by the government shouldn’t arise as there’s no real threat from the government apart from the lack of regulation. This doesn’t gainsay the need for 51 percent attack Bitcoin protection. Here are some of the available ways to mitigate the attack.

  1. There should be a way limit the size of mining pools within the Blockchain network

  2. Using a Proof-of-Stake consensus rather than a Proof-of-Work consensus will help

  3. Interchain linking

  4. Building coins using other networks such as the ERC20

💼 Related Article
Generational Crypto-Investment Gap: Why Warren Buffett Just Doesn’t Get It
🔥 Hot
6 months 2 weeks
256
Generational Crypto-Investment Gap: Why Warren Buffett Just Doesn’t Get It

Prior Bitcoin 51% attacks

In 2014, Ghash.io was one of the pools with several individual miners on the Blockchain miners and this provided them with immense control and power. For a while, they had close to 42 percent of the network’s hashing power and they even got worryingly close to 50 percent.

This sparked a debate about the relevance of mining pools and the amount of power they wield. People began to call for plans to decentralize the Blockchain network and this was met with stiff opposition since the concept of mining in a pool offered far more advantages than disadvantages.

More recently, the Bitcoin Gold team announced that a Bitcoin 51 percent attack ensued. An attacker got access to 51 percent of the network’s computing power and this caused the attacker to tamper with the blockchain and then reverse transactions.

These attackers went on to make deposits at cryptocurrency exchanges and then offered the Bitcoin Gold for bitcoin and other altcoins. They then withdrew the cash after a while. After doing this, they caused the blockchain to accept these false blocks that they created and then they reversed their deposits.

It was reported that the total amount the attacker sent is about $18 mln.

Real but preventable

Is the Bitcoin 51 percent  attack real? Yes! Is it possible? Absolutely? Is it costly? Definitely? However, it is also preventable. Also, considering the cost of hacking these more renowned currencies such as Bitcoin and Ethereum, it is unlikely that you’ll be losing your digital assets to any of the impending 51 percent Bitcoin attack.

💼 Related Article
Crossed Out But Not Forgotten: Blockchain and Data Protection Regulation
🔥 Hot
6 months 2 weeks
256
Crossed Out But Not Forgotten: Blockchain and Data Protection Regulation

Wikicoin
views
👓 Recommended articles
Darryn Pollock

Regulatory Trepidation is Hampering Cryptocurrency Adoption as Calls For Direction Get Louder

They say the cryptocurrency space is the Wild West, but when it comes to regulations, they are so vague that it is hard to know how to stay on the straight and narrow
Regulatory Trepidation is Hampering Cryptocurrency Adoption as Calls For Direction Get Louder
Contents

There have been two obvious waves in the cryptocurrency space. First, it was the incredible growth, adoption and mainstream adoption that permeated the last six months of 2017, then, following that, regulators have been forced to step up and decide how to govern this new financial technology.

At first, the two sides of this battle fought hard against one another as the idea behind cryptocurrencies is that they were free from centralized control. However, as that ideal has slowly been quashed, and a realization has emerged that cryptocurrencies need to fit into everyday regulation, the sentiment has changed.

Regulators have, inadvertently, become major shapers and movers of the cryptocurrency markets with announcements- either positive or negative- visibly shaking up the price of things like Bitcoin.

However, it would appear that they are not actually doing enough. The mandate for regulators is to set out clear and defined guidelines for this new technology, but this is not the case as many either try and squash them into existing rules or sit back and wait until there is a step that crosses a line before cracking down.

In reality, those companies that are actively engaging in viable and applicable Blockchain and cryptocurrency projects are baying for clear and transparent guidelines, because without them, adoption is being slowed right down.

Finding a direction

Part of the problem is the broad and vast application that Blockchain and cryptocurrencies endure. They are seen as money, a security, property or a commodity, and many blame this opacity for confounding the adoption of the asset class.

It is also not helpful that, in the US for example, multiple offices are trying to oversee different facets of one financial technology. These include the SEC, the CFTC, the FDIC, the Office of the Comptroller of the Currency (OCC) and the IRS.

So, with the space so widely spread, it is understandable that regulation is taking time to find its direction. However, it is occurring, just at a rate that those involved in this fast-moving space are not accustomed to.

Angela Walch, associate professor at St. Mary's University School of Law in Texas and a Research Fellow at the Center for Blockchain Technologies at University College London, explains that clarification in regulation is happening, but it is under pressure.

“Each new enforcement action by the SEC and CFTC seems to be focusing on a slightly different behavior, with the goal of slowly clarifying which activities are problematic. Overall, US regulators still are attempting to walk the line of protecting consumers while not stifling innovation, but we are definitely seeing more industry pushes for greater clarity, with some new industry lobbying organizations forming in 2018,” Walch said.

She goes on to add:

“My fear is we may be heading towards a race to the bottom with global crypto regulation. US regulators are facing increasing pressure from industry to be more industry-friendly, with the threat of losing jobs and investment capital to foreign jurisdictions."

An unprecedented space

The issue for regulators is that with Blockchain and cryptocurrencies, which are decentralized and totally global, they have come up against something they have never seen before.

It has caused regulators across the globe to tackle the technology very differently; from China and its out-right bans to Malta and its friendly and welcoming regulation. But, these contrasting ideas are also leaving Blockchain companies confused as to what the global take on this technology is.

While the two ends of the spectrum at least offer clarity, the majority of countries sit in the grey area in between acceptance and rejection. It is in these countries, where a wait-and-see approach is prevalent that innovators of this technology are calling for a direction, calling for transparency, and clear and direct guidelines.

There is no doubt these will come, but will it all be too late as the innovators lose faith and abandon hope? Or, will this careful process weed out the time-wasters and poor projects, leaving only the strongest to form a Blockchain base?

views
👓 Recommended articles
Patrick Thompson

Uber Co-founder is Launching a Cryptocurrency

The co-founder of Uber, Garrett Camp, will be launching a cryptocurrency without an ICO
Uber Co-founder is Launching a Cryptocurrency

 

Garrett Camp – the co-founder of the peer-to-peer ridesharing service Uber – will be launching a new cryptocurrency. Camp has banded together universities, scientists, and research institutes to help create a new cryptocurrency called the “Eco”. The goal of the Eco is to act as a currency that holds true to the original doctrine of digital currencies: a nearly instantaneous means of transacting that is not limited by borders or facilitated by a third party. Camp hopes that Eco will be used as a currency in tandem with bitcoin, gold, and fiat currencies.

However, the Eco Blockchain will have a few different features than you would expect a Blockchain-based currency to have. Eco’s Blockchain will be run by verified nodes rather than an anonymous system of computers that anyone can join to support the network. A verified node system rather than a completely decentralized system of nodes is a kind of middle ground between decentralization – like the Bitcoin network – and centralization – like the Federal Reserve System. By having a system of verified nodes, Eco sacrifices a higher level of security for coordinated governance and efficiency – a system that runs on verified nodes removes the threat of a 51% attack occurring on the network.

Another difference between Eco and most Blockchain-based currencies is the incentive that the Eco network offers for mining Eco. On Eco’s Blockchain, when a verified node confirms a new block, the reward is distributed to every node and user on the Eco network. Because the system is structured like this, miners are incentivized to do as little work as possible to mine the currency. Since the mining reward is shared with every node and user on the network, there is no advantage in using powerful computers that can confirm blocks at a faster rate. Eco will be more efficient than Blockchain-based currencies that reward a single miner who confirms a block because Miners will not be incentivized to use more computing power to mine Eco coins.

Camp is looking to partner with universities and research institutions that are ranked in the 5th percentile to run the first set of nodes. Individuals who run nodes will also be known as token generators in the Eco community. Unlike most Blockchain-based tokens, the Eco will not have an ICO. To launch the Eco project, Camp is creating a non-profit organization, The Eco Foundation, that Camp and a small number of partners affiliated with Expa – the four year old startup accelerator business that Camp founded – have invested $10 mln into.

Overall, there will be 1 trillion tokens generated over the course of several years. Camp plans for five hundred billion Eco to be distributed to the first one billion users. ⅕ of the original supply will be set aside for verified nodes, 1/10 to the Eco foundation – which pays operation expenses and funds research grants, 1/10 for advisors and active contributors, and the last tenth for strategic partners.

Camp believes that the Eco test-net could be running as earlier as six months from now.

views
👓 Recommended articles
🕵️‍ ICO Watch Eric Eissler

Past ICO Review: What Remains From Bancor’s Initial Boom

👁 ICO Watch
Bancor offered greater liquidity to the cryptocurrency market, but did it live up to its promises?
Past ICO Review: What Remains From Bancor’s Initial Boom
Contents

The name Bancor is reminiscent of a large corporate bank, an institution that you could trust putting your savings into. But not everything is in a name. Big banks can go bust, too. Remember that diversification is key.

Big Bang

Bancor entered the market with a boom in July 2017 by raising $153 mln in only a matter of hours. Investors loved what they saw, a new ICO and a new kind of coin called smart tokens.

Eyal Hertzog, co-founder and product architect of  @Bancor, explained its approach to helping online economies scale horizontally:

“Since online economies use their own unique currencies, economic growth means that participating businesses will see the value of their tokens grow, enabling them to scale their operations as well.”

According to the Bancor website, the benefits of the so-called smart tokens are as follows: the Bancor Protocol is a technical revolution allowing tokens to be converted without matching two parties with opposite wants. The magic is in the math, with a simple formula balancing buys and sells so that every token in the network maintains a formulaic relationship to others. The result is continuous liquidity regardless of trade volume or exchange listings.

A “Smart” Token knows when to leave

Bancor protocol enables anyone to create a new type of digital coin called Smart Token, which can hold and trade other tokens. This allows the Smart Token contract to serve as its own market maker, automatically providing so-called price discovery and liquidity to other coins.

So effectively, Bancor has created an exchange that will automatically price and trade any cryptocurrency that the user wants to list with it, as well as tokens. The company says it will always have enough liquidity to make the market because the currencies have to build a reserve in Bancor tokens. Remember, new tokens are tied to Bancor.

Shower your neighbors with tokens

While it seems useful in some regard, the logic is still a bit fuzzy and lost when you get down to the matter. There is a reason why 50 percent of ICOs fail.

The website claims that you can issue token for your neighborhood. This would allow us to go back to medieval days where every town had its own currency, and that would not be too useful, considering how far we have come since that time. The exchanges would be kings with all the commissions and fees they would make from all the conversions to transact.

💼 Related Article
Cambridge Analytica Had Plans For Own Cryptocurrency and ICO
🔥 Hot
8 months
256
Cambridge Analytica Had Plans For Own Cryptocurrency and ICO

Sinking ships suck down survivors

According to Professor Emin Gun Sirer, Professor of Computer Science at Cornell University, Bancor will continue to trail the market and its lack of price discovery will diminish any smart tokens created from it.

This, in essence, will keep those coins from growing beyond that of Bancor’s price, remember they are tied together. In other words, the tokens created off Bancor have no chance to thrive. When the parent coin is going down, Bancor will take them down, too. Tim Draper, billionaire venture capitalist, and backer of Bancor argues otherwise that it will give liquidity to the market. If you bought Bancor, then liquidity is great, because you will want to sell it as fast as you can.

Boom to bust

When Bancor token debuted on July 17, 2017, it entered the market at $4.49 per token. By November 2017, it has crashed down to $2 per token losing 50 percent of its value in four to five months.

On January 17, 2018, the token price spiked up to an all-time high of $10.27 per token, only to suffer a major crash, as the whole crypto market fell to the bears later in the month and the entirety of February. As of writing, the token as sunk to lows in hovering around high $2, low $3 range, still below that of its initial-entry-market price of $4.49.

🕵️‍ ICO Watch
views
👓 Recommended articles