Connect with us

Bitcoin News

EOS & TRON’s Fate Hangs on the Balance, research report shows

Published

on

EOS, a $4 Billion Dollar ICO Funded Project

The EOS blockchain may be in serious trouble according to a recent report by Outlier Ventures. EOS, the blockchain platform led by Dan Larimer and which raised $4 billion in a yearlong Initial Coin Offering according to the research report may be in jeopardy as the research revealed developers working on the platform have fallen by 86% compared to a year ago.

The implication of this decline in developers has resulted in code updates reduction by about 94% over the same period.

The research report pointed out that the decline in Active Developers could be as a result of core developers moving away from the protocol post mainnet launch.

A report on the analysis on smart contracts and dapps puts EOS on 9% each for both categories. The usage of dapps daily on the DPOS blockchain platform is rated at 14k.

TRON

Based on the same report from Outlier Ventures, TRON over the last 12 months has also experienced a 51% decline in developer activities and a whopping 96% decline over the same period of time. Tron’s decline may be due to negative price actions over time.

Though the research paper disclosed that the decline in the both EOS and TRON could have to do with protocol issues and negative price actions, both chains has been known for some ‘interesting’ issues.

Ethereum Still the King of Smart Contracts and Dapps

Based on the report from Outliers Venture, Ethereum over the period of the last 12 months currently dominates the smart contracts section by 79% and for Decentralized applications (DAPPS) by 82%. For daily Dapp daily active users, Ethereum currently sits over EOS by more than 200% standing at 32k users.

Other Platforms

According to the report, Theta and Cardona saw the largest increases in core development code updates. Theta saw an incredible 931% increase while Cardano was a 580% increment.

Polkadot and Cosmos saw a substantial developer activity growth of 44% and 15% respectively while Maker experienced a 98% decline in core development activities.

Advertisement
Comments

Bitcoin News

Paxful Users Can Now Sell Their Bitcoin For Gold

Published

on


Paxful has released a new update allowing millions of its users to acquire Gold by selling Bitcoin.

As one of the most known and valuable precious metal globally, Gold has positioned itself as a good store of value for investors, businesses and nations of the world. Over time, the precious metal has grown in value and has been noted to be a safe haven.

The new update allows users of the peer-to-peer exchange platform to sell their bitcoin for the acquisition of Gold. This works by having users search for offers that can accept bitcoin as payment for gold.

Users can also create their own offer which allows them to determine the terms of the business arrangement and published.


When an offer is matched, and a buyer is expected to deliver the gold within a time frame of 21 days (three weeks) immediately the buyer marks the trade as Paid. Once a seller receives the gold, he is expected to release the bitcoin from the escrow to the seller.


Paxful encourage users to use trackable shipping methods delivery by mail and the use of public places for users who wish to trade in person. Users are expected to provide ID and Address verification before are able to trade with gold.

Giving reason for this Paxful said “This verification is important to protect our bitcoin sellers from any fraudulent activity. Therefore, it is not possible to trade bitcoin for gold or vice versa without being fully verified on Paxful.”

For the best of transactions, Paxful encourage users to ensure the quality of the gold before making payment and determining the means of delivery of the gold.

Users are to request for proof of purchase (a receipt), certificate of authenticity for the gold item, photo of ID and any other additional documentations.

Continue Reading

Bitcoin News

Missing Bitcoin Mystery Solved, Mistook Wallet Pin for Password – Peter Schiff 

Published

on

Peter Schiff has revealed the mystery behind his corrupt wallet causing him to lose his bitcoin has been solved. The crypto critic took to his Twitter account to tweet the mistake was his, as he mistook the wallet pin for his wallet password.

On the 19th of January, 2020, Peter Schiff made a tweet abusing the leading cryptocurrency by market capitalization saying it intrinsically worthless, it has no market value. This was because he at the time couldn’t access his wallet. 

According to Peter, “I just lost all the #Bitcoin I have ever owned. My wallet got corrupted somehow and my password is no longer valid. So now not only is my Bitcoin intrinsically worthless; it has no market value either. I knew owning Bitcoin was a bad idea, I just never realized it was this bad!.”

While others offered to help, both well known names in the space and less known, others were less bothered, this however was due to his position on crypto .

A costly Mistake

According to Schiff, when Blockchain updated their app, he got logged out. Thereafter, he tried attempted logging in using his pin, the only “password” he had ever known or used. He said he never had a copy of the wallet seed phrase. And it was a costly mistake.

 

Responding to a post bashing him of his ignorance on the basic of things about crypto, Peter Schiff said the most basic thing about Bitcoin is that it’s not money. It also will not succeed as either a medium of exchange or store of value.

Crypto’s Complexity

He further expressed his displeasure on the complexity of crypto. He said “the episode does show is how easy it is to lose your Bitcoin if you are confused about how wallets work.”

 

The complexity of crypto was a subject which creator of Ethereum Vitalik Buterin talked about a few days ago as reported by CryptoTVPlus. Vitalik said “We can and should create better wallet tech to make security easier.”

Bitcoin Lost Forever

Despite efforts made to help him recover the Bitcoin in his wallet, Peter Schiff reveals that the bitcoin is lost forever.

In his words he said, “I did not get it back. I don’t know the password or the seed phrase. I never did.  So unless I can just guess the password I can never access the Bitcoin in that wallet.”

Continue Reading

Bitcoin News

Vitalik Buterin Challenges the Crypto Industry to Build Better Products as Peter Schiff Loses His Bitcoins

Published

on

Co-founder of Ethereum Vitalik Buterin has suggested a Social Recovery technology for lost crypto. This is coming after Peter Schiff tweeted hours ago, he had lost access to his bitcoins due to corrupted wallet. 

I just lost all the #Bitcoin I have ever owned. My wallet got corrupted somehow and my password is no longer valid. So now not only is my Bitcoin intrinsically worthless; it has no market value either. I knew owning Bitcoin was a bad idea, I just never realized it was this bad! https://t.co/6SJvDJOZU6

 

Buterin in response to this expressed his disappointment at people who hold the idea or opinion that “crypto is what it is, and it’s the duty of the holder to be super-careful and write down backup seeds in three places”.

 

According to the first smart contract enabled blockchain creator, the industry can and should create better wallet technology to make security easier. 

He further submitted a link to a suggested social recovery ERC WIP 

 

 

The Crypto Social Recovery works by having contacts approve a recovery process. Though still a work in progress, the WIP provides a simple to understand example of how it works “An account can be recovered if 3 of 5 of (Alice, Bob, Charlie, David, Evan) approve the recovery, but only after a secret S is revealed and the holder of secret S approves the request (S could be stored by the account holder or in a drawer).”

 

While others such as CEO of Binance, CZ who Said Peter Schiff should “stay in fiat” have been against Peter Schiff, bashing him, this certainly has to do with his sentiments towards Crypto, Vitalik stands with him and instead addresses one of the core reasons halting mass adoption of cryptocurrency. Complexity of products. 

 

Continue Reading

Bitcoin News

Only Bitcoin & Ethereum Are Sufficiently Decentralized to be a Base Trust Layer for Applications – Joseph Lubin

Published

on

Co-founder of Ethereum and founder of ConsenSys, Joseph Lubin has said that bitcoin and ethereum are the only sufficiently decentralized blockchains to be a base trust layer for applications.

Joe Lubin made this statement in an interview in Hong Kong FinTech Week. There are good competitors and there are good marketing projects, Lubin said. He went further saying, Tron is an excellent marketing project and others like it and some of these are not necessarily intellectually honest and not technologically strong or rigorous.

However, he did noted some projects to be high quality technology projects, such as Polkadot, Avalanche etc.

He said both bitcoin and ethereum are the only sufficiently decentralized blockchains to be a base trust layer for applications for the planet.

According to Lubin, to be a base trust layer, a project will need to issue a token broadly and equitably. The project will also have to raise or gather enough revenue so that it can build its project and continue to build it out and maintain it. This will also require a vibrant, large and growing community to be successful.

Regulatory compliance is a serious challenge which crypto projects will have to deal with. According to Lubin, this was something both bitcoin and ethereum didn’t have to deal with at its early times. He said if any project is hoping to aspire to be a massively decentralized base trust layer it will ill have to overcome the challenges but it will be very very difficult for even a technically very strong project to challenge the early head start and the massive network effect that Ethereum has.

The community behind the two largest cryptocurrencies by market capitalization is gigantic compared to other networks. Just recently, some group of people founded a decentralized autonomous organisation DAO to market the ethereum blockchain. Though the activities of the DAO hasn’t been made completely public, it’s worth mentioning that Ethereum co-founder and now founder of Cardano Blockchain Project, Charles Hoskinson, because there was no consensus to commercialize the Ethereum blockchain despite the desire for Ethereum to be global settlement layer.

Continue Reading

Watch

Find Us

Address: 7 Kafi Street, Beside City Mall, Shoprite, Alausa, Ikeja, Lagos.

Hours: Monday—Friday: 9:00am–5:00pm

Contact: +234 817 866 6900

Trending

Copyright © 2020 CryptoTVPlus. Powered by Ma Media