Despite Its Success, Ethereum Doesn’t Get Media Attention It Deserves

Ethereum’s perception in the media has been on a roller-coaster ride since its inception in 2015, but the blockchain and its native Ether (ETH) cryptocurrency are clearly still seen as being in second place behind Bitcoin (BTC). While Bitcoin rose to fame due to the notorious Silk Road darknet marketplace and its price climax of $20,000 back in 2017, Ethereum has had fewer notable interactions with the mainstream media, even though some might reference how it enabled the initial-coin-offering craze and made trading virtual cats a worthwhile pastime. Vitalik Buterin…

China Didn’t Ban Bitcoin Entirely, Says Beijing Arbitration Commission

China, one of the world’s most strict jurisdictions for cryptocurrency trading, has not completely banned Bitcoin (BTC), a local non-profit arbitration organization says. According to a July 30 report published by the Beijing Arbitration Commission (BAC), China’s prohibition of Bitcoin is more nuanced than some have suggested. Bitcoin does not constitute money in China In the report, the BAC clarified China’s legal stance on cryptocurrencies like Bitcoin and outlined major crypto-related activities that are prohibited by the government.  According to the BAC, China prohibits token funding and trading platforms from…

Five Years Later, the Ethereum DApp Ecosystem Looks Exactly as Predicted

Ethereum’s fifth anniversary from the mainnet launch is upon us, marking an important milestone in the long history of the first smart contract platform to reach significant adoption. Following the initial coin offering mania, today’s main narrative behind Ethereum is decentralized finance, an ecosystem that seeks to recreate the financial system from scratch on the blockchain. Ever since Ethereum’s founding, the application layer has been at the center of its value proposition. In a 2014 interview, Ethereum’s co-founder Vitalik Buterin illustrated that Ethereum is not just about the Ether currency,…

Blockchain Is Key to Future ‘Hyperconnected Economy,’ Say Researchers

According to a report by market research firm HFS Research, blockchain technology will play a decisive role in establishing the future “hyperconnected economy.” A report excerpt recently released by HFS for Big Four auditing EY suggests that “we are hurtling toward a hyperconnected economy, and blockchain will provide the way to make it happen.” Blockchain facilitates large-scale collaboration The report explains that entire ecosystems are being developed across the services offered by different organizations. The researchers claim that “no single organization owns the entire customer experience, and competitors and peers…

When Robinhood FOMO? Bitcoin Price Pulling a ‘Kodak’ Means Six Figures

Retail traders on Robinhood have been increasingly seeing “fear of missing out” or FOMO rallies around certain stocks. The latest beneficiary has been the stock price of the renowned camera manufacturer Kodak (KODK) whose stock surged from $2 to $60 in one day.  Therefore, given the current climate of economic uncertainty and “infinite QE,” if the optimism around risk-assets flows over to Bitcoin, chances of a similar rally for BTC price — as some analysts are currently predicting — certainly increase. Moreover, following the Federal Reserve’s FOMC meeting on July…

BitFlyer and Brave’s New Partnership to Finally Let Japanese Users Earn BAT

Japanese users will soon be able to earn Basic Attention Token (BAT) by viewing Brave ads.  On July 30, major Japanese cryptocurrency exchange BitFlyer partnered with Brave Software International SEZC, a subsidiary of Brave Software — the maker of the crypto-enabled browser Brave. Within the partnership, the firms co-developed a crypto asset wallet in the Brave browser that allows Japanese users to receive BAT for viewing Brave ads. Japanese Brave users will also be able to buy or sell BAT on BitFlyer as well as tip BAT to publishers and…

Bitcoin Held by Exchanges Drops to 2019 Bull-Run Levels, Demand Rising

As July comes to a close, the amount of Bitcoin (BTC) held by major cryptocurrency exchanges has reached its lowest level since late May 2019. At that time, Bitcoin’s price was around $8,000 before continuing toward its 2019 high of $12,967 on July 11, 2019.  Roughly 10% of Bitcoin held by exchanges The Bitcoin balance held by major exchanges has been dropping significantly since mid-March 2020 following the Black Thursday crash on March 12 and subsequent recovery.  There are 2.64 million BTC collectively held on exchanges as of July 29,…

Ethereum Is the Best-Performing Asset Class of 2020

The average performance across Ethereum (ETH)-based assets has been a nearly 130% year-to-date (YTD) gain, according to data published by market data aggregator Messari. The data provides an overview of the 178 assets that currently exist on Ethereum, totaling a combined market capitalization of $63.7 billion — just shy of 20% of the entire crypto capitalization. Including stablecoins, 124 of the assets have posted a YTD gain, meaning that 70% of Ethereum-based tokens have increased in value despite the shocks felt across the global economy amid the COVID-19 pandemic. 70%…

Theta Partners With Korean Gaming Platform to Reward Its 3M Users

The crypto-powered Esports streaming platform Theta has partnered with South Korean social gaming platform Ludena Protocol to reward its gamers for viewing or streaming content. The partnership will see Theta protocol integrated into GameTalkTalk, Ludena’s first decentralized application (DApp) — allowing the gaming-centric social platform’s more than three million users to access Theta’s streaming services through the platform. Ludena’s users will be rewarded for engagement in the form of Theta’s TFUEL token. Theta TV to integrate GameTalkTalk The agreement will see an exclusive GameTalkTalk channel added to Theta’s streaming platform,…

Iranian Authorities Greenlight Power Plants Mining Bitcoin

Iran has announced that it will now allow industrial-scale power plants in the country to operate as Bitcoin miners —- provided they don’t use subsidized fuel. In a statement to the Islamic Republic News Agency (IRNA) on July 27, Mostafa Rajabi Mashhadi, a Deputy Managing Director at Tavanir, Iran’s Power Generation, Transmission and Distribution Management Company, said power plants in the country could operate as Bitcoin mines “if they comply with approved tariffs” and have the necessary licenses. Mashhadi said that any power plant considering such a venture could not…