Connect with us

Altcoin News

Stablecoins Marketcap on CMC Top Forty Approaches 20 Billion Dollars.

Published

on

Stablecoins – Amongst the top 40 cryptocurrencies on coinmarketcap, Stablecoins currently carries an impressive value approaching 20 billion dollars with Tether taking the lead at over 15 billion dollars.

cryptocurrency that behaves like national fiat currencies such that they do not fluctuate like other cryptocurrencies but fluctuates as national currencies fluctuate.

Stablecoins has been seeing a rapid growth over the years it since it became a concept and now a vehicle or instrument for the facilitation of trades and hedging of values against market volatility.

Stablecoins become popular due to their market volatility protective features and their ability to be used as a safe method of payment thus replacing national currencies for many who use it. The earliest stablecoins were pegged to the US dollar being the global reserve currency and currency notable for use in international trade.

Over time, various cryptocurrencies which were pegged to other national currencies have emerged with several currently pegged to the Nigerian national currency – Naira (NGN). Some of which are NIRX, NGNT, ABDC etc.

Positions of Stablecoins on Coinmarketcap

Tether- Tether (USDT) is currently the No. 3 on Coinmarketcap after displacing Ripple (XRP). It’s also the largest stablecoin with an impressive market capitalization of 15.6 billion dollars and a 24 hour trade volume of 28.9 billion dollars.

USDCOin – USDC is the currently the 13 in terms of market capitalization in the entire market and is the second largest stablecoin after Tether. It currently has a market cap of 2.6 Billion Dollars and a 24 hour trade volume of 327 million dollars.

DAI- the stablecoin Dai holds a position of 25 on coinmarketcap and a third position with a market cap of 874 million dollars and a 24 hour trade volume of 71 million dollars.

Binance USD  (BUSD) – The BUSD is a stablecoin from Binance, and holds number 34 on CMC with a marketcap of 555 million dollars and a trade volume of 234 million dollars under 24 hours.

TrueUSD (TUSD)- The stablecoin is No. 37 on CMC and holds a market capitalization of 507 million dollars and a trade volume of 44.9 million dollars under 24 hour trade volume.

Altcoin News

Explaining DASH Coins to Investors Big On Privacy

Published

on

Dashcoin (DASH) is a grand derivative of Bitcoin. Essentially it is a derivative of the derivative of Litecoin. Jokes apart,  DASH is a hardfork of Litecoin which in turn is a derivative of Bitcoin. 

Formerly dubbed Darkcoin, it was curated in January 2014 by Evan Duffield when he became frustrated with the transaction speed of Bitcoin.  DASH uses both masternodes and miners to validate onchain actions. One key feature of the altcoin is that it gives users the option of privacy when transacting.

With InstantSend, onchain actions using DASH are transacted speedily as intended by the founder of the crypto.

Investors are always quick to evaluate how the prices of their investments will do in coming years, but believe you me, there is a whole lot that goes into scaling the monetary worth of any investment  talkless of a volatile cryptocurrency. Nevertheless its functionality as a virtual currency is what triggers its market movement and causes its value to go up or plunge.

One key thing that distinguishes DASH from many cryptocurrencies is its privacy feature dubbed “PrivateSend”. Users have the option of opting for an anonymously transacted onchain action.

It appears that this altcoin is more of a functioning crypto than a store of wealth. Taking Venezuela as a case study, with the crypto scaling to be a worthy altè to traditional online payments, its perks are key factors to take note of when determining if its price will rise or fall in the nearest future. 

Continue Reading

Altcoin News

As the Crypto Community Continues to Await the Belated ETH 2.0 Release, Vitalik Buterin Stakes $1.4M worth of Ether to Support the Blockchain  

Published

on

The Serenity ETH 2.0 is already seeing stakes from investors. Vitalik Buterin, founder of the Ethereum blockchain has transferred his first ETH for staking on the incoming iteration of the Ethereum blockchain.

The Ethereum Founder’s address transferred 32 ETH each on about a hundred on-chain actions. 

TrustedNodes reported that the gross sum of the crypto sent is about 3200 cryptos. The aggregate of all crypto sums sent is about $1.4 million as at the time of writing this piece.

These sums were sent via on-chain transactions to Ethereum  Serenity Phase 2.0’s just released deposit contract. This newest innovation became available in real time starting from Wednesday, the 4th of November 2020. It is a deposit contract that enables users transfer crypto from the extant proof-of-work blockchain to the about-to-drop proof-of-stake (PoS) blockchain.

The minimum requirement of staking 32 Ethers so as to scale the ETH 2.0 has since been met by the users depositing the above mentioned sums. 

About a seventeen million dollars ($17 million) or  38,693 ether has been amassed by the deposit contract as at press time. 

It will interest you to know that Point of Stake Networks (PoS) are not powered by mining unlike the current Bitcoin and Ethereum blockchains. A PoS network is enabled by stashing funds (staking) for a specified term so as to earn profits on same.

The Ethereum community continues to await the belated release of the Ethereum 2.0 Proof of Stake network projected to launch probably early December 2020.

Continue Reading

Altcoin News

Ethereum Hard Fork, Berlin to be Released in January 2021 

Published

on

The Ethereum Network is about to storm the crypto community once more with its “Berlin” Hard Fork. According to the All Core Developers’ Bi-Weekly call held last Friday, it was revealed that the project will be released in the coming months. A projection for a  January 2021 launch seems to be in the works, immediately after the  release of the Ethereum 2.0 beacon chain in December.

Project Berlin introduces a Hard Fork of the Current ETH (PoW) 

Project Berlin introduces a hard fork of the current Eth 1- proof-of-work (PoW) network. This improvement on the current network was meant to have already been launched last July and it consists of low-level modifications for enhancing the extant mainchain while Eth 2.0 Serenity phase is still in the works. The Hard Fork was delayed because of the exhaustion of client employees and an observed necessity for a wider client range. Consequently, the procedure for incorporating Ethereum Improvement Proposals (EIPs) and the one that will culminate in the hard fork has been altered. 

The EIP Schedule

The following is the plan for incorporating three EIPs into the Berlin Hard Fork

  1. EIP-2315: Simple Subroutines for the EVM
  2. EIP-2929: Gas cost increases for state access opcodes
  3. EIP-2537: BLS12–381 curve operations

As at press time, it appears that EIP-2537 will no more be incorporated into the Berlin Hard Fork. This upgrade will facilitate the easy communication of Eth 2.0 blockchain and Eth 1.x blockchain by utilizing an analogous cryptographic arrangement. 

Continue Reading
Advertisement
Advertisement

Trending