Future Lotteries Could Benefit From ETH 2.0’s Randomness

Discussing Ethereum’s (ETH) hackathon in partnership with the Colorado State Lottery, Vitalik Buterin opined that in the future, such lotteries could benefit from Ethereum 2.0’s Verifiable Delay Function. No immediate use for Ethereum in the project The Ethereum creator will be one of the guests at the virtual opening ceremony for the Colorado State Lottery GameJam Hackathon. Jared Polis and Chainlink’s co-founder, Sergey Nazarov, will also be inattendance. Buterin does not believe that the Colorado Lottery will immediately start using the Ethereum blockchain for its games of chance, but suspects…

‘The Full Reality of ETH 2.0 Is Still Years Away’

Kosala Hemachandra, the founder of MyEtherWallet (MEW), has told Cointelegraph the fully-fledged version of ETH 2.0 is still years away. The first phase of the Ethereum 2.0 upgrade was originally set for Jan 2020 but then postponed to coincide with this week’s fifth anniversary.  It’s since been delayed again with a launch now expected sometime between November and early 2021. While Hemachandra believes Phase 0 will launch sometime this year, he points out the full version of ETH 2.0 will not be up and running before 2022: “I think the…

ETH Activity in Q2 Similar to That Before 2017 ICO Market Boom

Though some on-chain activity for Ethereum is similar to the conditions before the price rallied to its all-time high in 2018, it failed to demonstrate the same bullish behavior in 2020. According to a July report from Xangle Research on Decentralized Finance (DeFi) in Q2 2020, research analyst Jehn Kim determined that on-chain transaction volume on the Ethereum blockchain increased roughly 62%, around a 52-week high on June 23. Transaction fees also rose approximately 688%.  The analyst noted that these on-chain stats “partially resemble the spike seen during the bull…

BTC, ETH, XRP, BCH, BSV, ADA, LTC, BNB, CRO, LINK

Bitcoin (BTC) has covered a considerable amount of ground over the past few years. Initially considered as an asset mostly used for unlawful activities, it has finally received the approval of the Office of the Comptroller of the Currency. This means banks in the U.S. will now be able to provide crypto custody services to their clients. This move could further encourage institutional investors to enter the crypto space because they are likely to trust their banks more than the other custody services on offer. However, funds are unlikely to…

Ethereum Options Traders Jump the Gun as ETH Price Soars to $280

Since the start of the week Ether (ETH) has gained more than 17% and the gains appear to be connected to increasing stablecoin use and the rise of DeFi applications.  As reported by Cointelegraph, Ethereum network usage surpassed Bitcoin’s, doubling the volume settled over the entirety of 2019. Another possibly bullish factor in the background is the Ethereum 2.0 final testnet scheduled for August 4. This appears to have investors in a good mood, despite the current rise in gas fees. Over the past week investors rushed to options markets,…

Eth 2.0 Dev Shares Details of Upcoming Community Testnet

The Ethereum 2.0 team has formalized the launch date of the first full testnet designed to simulate mainnet conditions. Called Medalla, the new multi-client testnet is set to be the last one before mainnet launch occurs. Medalla means “medal” in Spanish, a reference to the “Olympic” Ethereum 1.0 testnet that immediately preceded the full launch. According to a July 23 post by Danny Ryan, the Ethereum Foundation’s Eth 2.0 coordinator, Medalla will launch no earlier than August 4 at 1 PM UTC. The launch date is not set in stone…