Ethereum

Altseason Imminent: ‘Most Altcoins Should Gain on Bitcoin Soon,’ Says Veteran Analyst

13/07/2020 by Idelto Editor

During the last 30 and 90-day intervals, a number of altcoins have done much better than bitcoin, as far as price percentage increases are concerned. Last Thursday, the popular analyst Peter Brandt told his 360,000 followers that the price of ethereum saw a “significant breakout” against bitcoin. Moreover, a number of cryptocurrency proponents have been feverishly discussing a possible “altcoin season” coming in the near future.

Veteran Analyst Peter Brandt Eyes an Ethereum Breakout

Three days ago, the veteran trader and crypto analyst Peter Brandt explained that a recent ETH/BTC event could trigger some bullish ETH prices. “Significant breakout in ETH-BTC with target of .03276 BTC. Most alts should gain on Bitcoin in [the] near future,” Brandt tweeted to his followers.

When someone asked Brandt about the crypto asset XRP, Brandt responded “higher.” Moreover, the bitcoin pundit Tuur Demeester also said he was “long” toward ether prices when he tweeted:

ETH/BTC technicals are looking bullish so I’m long. (I still think ETH has extremely problematic fundamentals).

Altseason Imminent: 'Most Altcoins Should Gain on Bitcoin Soon,' Says Veteran Analyst — ETH/BTC chart via Peter Brandt on Twitter.

Of course, the subject of ETH spiking in price has sparked a number of discussions concerning “altcoin season,” a description of a period in time when crypto-assets other than BTC perform better than the top digital currency. Still, out of 5,700 coins mentioned on market cap aggregators, BTC has a dominance rating of around 62.5%.

However, over the last 30 and 90 days, a number of other coins have outperformed BTC by a longshot. During the last 90 days, BTC is up over 35% but ETH has gained 52%.

Another Analyst Stresses: ‘The Altcoin Party Will End Very Soon’

Cardano (ADA) has seen a whopping 271% increase during the last three months and coins like ren, fantom, kyber network, raiden network, and more are also up over 200%.

Other notable forerunners during the last three months include CRO, VET, LEND, and ZRX. However, despite the massive increases in value for a number of coins other than BTC, some digital asset traders don’t envision an ongoing “altcoin party.”

Just recently, the crypto analyst “Crypto Amsterdam” told his 15,000 Twitter followers that he thinks the “the Altcoin party will end very soon.” The analyst described a number of reasons as to why he believes the party will end.

“Dominance weekly support, BTC ranges for 70+ days, BTC volatility at lows only seen 4 times since 2017, and these lows were followed up by 50-250% BTC moves. Q3 has been bearish historically,” the trader said on Friday.

Do you expect an altcoin season or do you think the altcoin party will end soon? Let us know what you think about this subject in the comments section below.

The post Altseason Imminent: ‘Most Altcoins Should Gain on Bitcoin Soon,’ Says Veteran Analyst appeared first on Bitcoin News.

Bitcoin Script and Onchain Contracts: Two High-Level Programming Languages for Bitcoin Cash

11/07/2020 by Idelto Editor

Last May, the software developer and creator of revoke.cash, Rosco Kalis, released Cashscript version 0.4 that included a number of optimizations. Cashscript’s new website highlights the high-level language that “offers a strong abstraction layer over Bitcoin Cash’ native virtual machine, Bitcoin Script.” Additionally, the developer Tendo Pein recently announced the “high-level smart contracts programming language for Bitcoin Cash” called Spedn now has a new website.

Cashscript Version 0.4.3 and Cashscript.org

Rosco Kalis is a software developer who is involved with a number of different cryptocurrency projects. For instance, Kalis created revoke.cash, a platform that allows people to inspect certain decentralized app (dapp) contracts that they approved to spend ERC20 tokens in the past. The tool provides people with the ability to revoke access for the ones they no longer need.

Kalis is also a software engineer for the General Protocols team and he’s contributing to the Anyhedge project. Moreover, Kalis has also been working on a high-level language for Bitcoin Cash called Cashscript. Our newsdesk spoke with Kalis in May 2019 when he told our readers about the Software Development Kit (SDK) and the syntax of the language which was inspired by Ethereum’s programming language. A year later, Kalis revealed Cashscript version 0.4 on May 25 and a new website called cashscript.org.

On July 10, Kalis released Cashscript version 0.4.3, “which includes some smaller bytecode optimisations,” according to the developer. The initial release of Cashscript version 0.4 came with Bitwise operators, Variable size NUM2BIN, a Fluent Transaction interface, Manual UTXO selection, among other improvements. The website cashscript.org’s about section says:

Cashscript is a high-level programming language for smart contracts on Bitcoin Cash. It offers a strong abstraction layer over Bitcoin Cash’ native virtual machine, Bitcoin Script. Its syntax is based on Ethereum’s smart contract language Solidity, but its functionality is very different since smart contracts on Bitcoin Cash differ greatly from smart contracts on Ethereum.

The High-Level Programming Language Spedn Has a New Homepage

In addition to Kalis’s recent 0.4.3 release on July 6, the software developer, Tendo Pein, explained that the high-level programming language Spedn now has a new website. “Spedn has got a new homepage: spedn.pl,” Pein tweeted.

News.Bitcoin.com reported on the Spedn project on October 25, 2018. The sleek new purple colored website explains that Spedn is a “high-level smart contracts programming language for Bitcoin Cash designed for explicitness and safety.”

The website notes that Spedn offers static typechecking, which offers the detection of many errors at compile time. Pure functions that are free of side effects, the common source of bugs. Explicitness, which means no guessing what the expression is supposed to return and Curly braces which is similar to C#, Dart, or Rust.

Spedn is also used by the General Protocols team, Flipstarter, Karol Trzeszczkowski’s recurring-payment Electron Cash plugin, the mistcoin project, and the synthetic derivatives Anyhedge concept.

Both programming language projects are very meaningful to the Bitcoin Cash ecosystem and BCH supporters look forward to projects that leverage them. Right now these projects are offer insight into the start of the fascinating world that can happen with Bitcoin script and onchain contracts.

Additionally, Rosco Kalis has published a comprehensive analysis in regard to the vast difference between the Turing-complete smart contracts offered on Ethereum, and the contract capabilities using Bitcoin script.

What do you think about Cashscript and Spedn? Let us know what you think about these Bitcoin Cash programming languages in the comments below.

The post Bitcoin Script and Onchain Contracts: Two High-Level Programming Languages for Bitcoin Cash appeared first on Bitcoin News.

Avalanche Launch Fumbles: ‘A Highly-Sophisticated DDoS Attack Derailed Token Sale’

09/07/2020 by Idelto Editor

On July 8, 2020, some members of the cryptocurrency community were prepared to leverage the AVA Labs Avalanche (AVAX) token sale, in order to acquire some of the highly anticipated coin on Wednesday. However, due to “record-breaking demand” and a “highly-sophisticated DDOS attack” the Avalanche sale has been rescheduled for July 15, 2020.

For quite some time, since May 2018, a number of cryptocurrency enthusiasts have been interested in a protocol called “Avalanche.” The white paper was published by an anonymous group of developers called “Team Rocket.”

Essentially, the paper claims to go beyond Satoshi’s invention, often referred to as “Nakamoto Consensus,” as concepts like Avalanche introduce “a new family of leaderless Byzantine fault tolerance protocols, built on a metastable mechanism.”

Ever since the paper was released, the well known Hacking Distributed founder and Cornell professor, Emin Gün Sirer, initiated a team called AVA Labs in 2018. AVA Labs wholeheartedly believes that Avalanche will be a “next-generation” blockchain.

“Avalanche is the first next-generation blockchain using Proof-of-Stake (PoS) to deliver at the scale (decentralized finance) defi demands,” AVA Labs claims. “Enabled by the most advanced consensus technology, the Avalanche protocol, Avalanche achieves high-throughput in excess of 4500 TPS, fast finality at less than 3 seconds, and all with unprecedented decentralization.”

The development team’s “tech primer” continues by adding:

Built as a platform, Avalanche enables anyone to deploy subnets, private or public, and create custom execution environments to solve their network’s needs. With the ability to create and trade assets between chains and subnets, Avalanche services all industries as an infrastructural backbone for the internet of exchange.

The AVA Labs Avalanche (AVAX) token sale was supposed to happen on Tuesday, but according to Emin Gün Sirer, the launch had significant issues.

“Well, that’s not how we were hoping this would go,” Gün Sirer tweeted. “The AVAX sale saw record-breaking demand. Unfortunately, a coordinated and highly-sophisticated DDOS attack derailed Tokensoft’s systems that were handling the sale.”

The Cornell professor further added:

We’re preparing for the rescheduled AVAX sale for 10 a.m. ET next Wednesday, when we will bring an end to the wait for tokens. We’re very appreciative of our community’s patience and support.

The AVA Labs web portal shows that the sale has been rescheduled. “The token sale will run from July 15, 2020, at 10:00 a.m. ET (UTC – 4) until July 29, 2020 at 10:00 a.m. ET,” the website confirms. The minimum to participate in the Avalanche (AVAX) token sale is $100 USD. AVAX purchasers will be able to freely stake locked Avalanche tokens after the sale.

Prior to the sale, registration was open at the URL buy.avax.network, but now the web portal explains that registrations are closed. This means interested AVAX buyers will have to wait until July 15 to register. Of course, not everyone in the cryptocurrency community is a fan of the Avalanche project, and many crypto supporters detest PoS projects. Proof-of-Stake (PoS) has yet to be considered a viable alternative to Proof-of-Work (PoW).

In March, the delegated-Proof-of-Stake blockchain Steemit was exposed for significant vulnerabilities, as the DPoS system was “owned by a few huge exchanges,” according to Vitalik Buterin.

It seems AVAX fans and the Brooklyn-based AVA Labs believe Avalanche will be different from the failings of PoS projects in the past. The project will likely be a competitor to the Ethereum (ETH) project too, as AVA Labs boasts that the protocol will allow you to “build your own custom blockchains or digitize any assets with arbitrarily complex rulesets.”

“Avalanche enables the launching of smart assets or digital representations of real-world-assets that obey special parameters and trading restrictions — Better than any other platform,” AVA Labs says.

What do you think about AVA Labs postponing the AVAX token sale? Let us know what you think about this subject in the comments section below.

The post Avalanche Launch Fumbles: ‘A Highly-Sophisticated DDoS Attack Derailed Token Sale’ appeared first on Bitcoin News.

ModiHost’s Token Is Live on HitBTC, the Leading European Bitcoin Exchange

09/07/2020 by Idelto Editor

Switzerland, July 9th 2020 – ModiHost, a hotel management system that uses artificial intelligence to deliver personalised experiences to hotel guests, is proud to announce that its token is live for trading on the HitBTC exchange starting from Thursday 9th.

HitBTC was founded in the early stages of blockchain growth, making it one of the most deep-rooted and reliable exchanges in the industry. HitBTC exchange is the largest spot trading market in the industry with over 800 trading pairs and 500+ spot instruments supported, including Bitcoin, Ethereum, EOS, Litecoin, Tron and others. “HitBTC is an authority in the blockchain world and we are proud to become part of this trustworthy family. Today’s announcement will help to greatly increase the trading volume of ModiHost’s Token as we are partnering up with the leading European bitcoin exchange, HitBTC. Despite this year being particularly difficult for the tourism industry, ModiHost is continuing to expand and reach key milestones” says Stephan Radwitz, ModiHost CEO.

Just two weeks ago, ModiHost announced the availability of its minimum viable product as it successfully onboarded more than 60 hotels across five countries: France, Italy, Spain, the UAE, and India.

With ModiHost, instead of forcing hotels to purchase and hold tokens, hotels can instead borrow tokens from private lending pools to cover operating fees. Pool operators must set the fee they charge hotels low enough so that their tokens are lent frequently, but also high enough to ensure fees give the token holders a competitive reward, while also leaving enough profit for themselves. The innovative pool system may also work as an extra income source for these holders.

The pool mechanism has several advantages: it incentivises token holders to become active participants in the ModiHost ecosystem, it allows token holders to benefit fully from the value of their tokens, and incentivises all parties involved to promote ModiHost, since participation further aligns the interests of holders with adoption of the platform.

After going live on HitBTC, ModiHost expects to boost the attraction of the platform for those looking to trade tokens. This achievement will also allow ModiHost community members to regularly gather information regarding the crypto asset and its competitors from a separate, reliable source.

About ModiHost
ModiHost, a hotel management system, harnesses the power of AI to take the hospitality industry to the next stage in its evolution, using AI to run hotels more effectively than ever before. Thanks to AI technology, Modihost creates an ad-hoc customer profile, making guests feel special by predicting their needs and behaviour, and suggesting services automatically, therefore allowing hotels to increase their sales by up to 25% and improve customer experiences. Additionally, it eliminates outdated procedures, reduces repetitive workload and raises staff efficiency, resulting in lower costs.

About HitBTC
HitBTC is a crypto exchange with over 800 trading pairs. The platform was created in 2013 and provides exchange, custodial and other related services. HitBTC offers a range of APIs such as REST, WebSocket, FIX API. The exchange’s UI was developed to meet the needs of the most demanding and sophisticated traders. Users can take advantage of competitive trading fees via HitBTC’s Trading Fee Tier system.

The exchange listing can be found at: https://hitbtc.com/AIM-to-BTC

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post ModiHost’s Token Is Live on HitBTC, the Leading European Bitcoin Exchange appeared first on Bitcoin News.

The Popular Stablecoin Tether Is Now Circulating on the Bitcoin Cash Network

07/07/2020 by Idelto Editor

The most popular stablecoin tether (USDT) has officially been minted on the Bitcoin Cash blockchain via the Simple Ledger Protocol (SLP). At press time there’s only 1,010 SLP-based USDT in circulation, as the firm Tether Limited seems to be issuing small amounts and testing the SLP framework.

Tether (USDT) is the king of stablecoins in the crypto economy and according to the company’s transparency page, there are more than $9.8 billion tethers in existence.

The stablecoin is a token that is also hosted on a number of blockchains including the Ethereum network, Omni Layer, Algorand, Tron, Liquid, and the EOS chain. Not too long ago, news.Bitcoin.com revealed that tether (USDT) was migrating some coins over to the Bitcoin Cash (BCH) blockchain via the Simple Ledger Protocol.

Tether Limited’s transparency page now shows that the company has been minting and testing the SLP framework. The data website simpleledger.info shows that the Tether team has officially minted 3,027 USDTs so far on the BCH chain.

However, 2,017 SLP-based USDT tokens have been burned, which only leaves 1,010 SLP-based USDT in circulation at the time of publication. A thousand dollars worth of stablecoins is not much, but Bitcoin Cash proponents believe that the company is simply trialing the SLP infrastructure.

Simpleledger.info also shows that the baton is “alive,” which means USDTs can be minted at any time. The genesis of the SLP-based USDT shows that the tokens were born on May 25, 2020. Searching the term “tether” in the simpleledger.info database also shows there is a number of phony ‘tethers’ people have created since the SLP network came out.

The official USDT token ID is shown at Tether Limited’s official website, alongside the balances of tether on other blockchains. There’s been a total of 50 SLP-based USDT transactions so far on the Bitcoin Cash blockchain.

The SLP-based USDT rich list shows that this address has the most stablecoins with a balance of 874.14 USDT at the time of publication. The rest of the coins in circulation are spread out through a number of different addresses.

The largest amount of USDTs on any blockchain is held on ETH with $6 billion in ERC20-based tethers to-date. Of course, Bitcoin Cash fans were both pleased and skeptical about the appearance of USDTs on BCH.

On the subreddit r/btc, BCH fans discussed the recently issued SLP-based USDT on the forum. On July 7, Sideshift.ai announced that the Bitcoin Cash version of USDT is now live on the swapping platform.

BCH proponents also discussed holding USDTs on the Bitcoin.com Wallet thanks to the recently added asset breakdown and stablecoin features. On Twitter, the Sideshift team wrote: “Be one of the first humans to shift USDT on SLP.”

What do you think about tether (USDT) being minted on the Bitcoin Cash chain? Let us know what you think in the comments section below.

The post The Popular Stablecoin Tether Is Now Circulating on the Bitcoin Cash Network appeared first on Bitcoin News.