May 16, 2020

Salesforce Exec Sparks Community Debate

May 16, 2020 boss

The question of whether enterprises should use public or private blockchains for business has become extremely relevant today. A recent report from Fortune Business Insights predicted that the blockchain market will reach $21 billion by 2025, highlighting the fact that large companies are adding momentum to the market through new investments. Unsurprisingly, as more players enter the blockchain arena, information regarding the best blockchain solutions for enterprises is coming up for debate. For instance, during the online Consensus: Distributed Conference, Adam Caplan, the senior vice president of emerging technology at…

Bitcoin Prepares to Rally to $12,000 as Price Forms Historically Bullish Pattern

May 16, 2020 boss

After attempting to break decisively past $10,000 for the second time in a week, Bitcoin was rejected, plunging as low as $9,200 for the umpteenth time in a matter of days. The tepid price action has made some investors cautious that more downside for the flagship cryptocurrency is possible, citing the loss of the key $9,500 support. Prominent analysts, however, have begun to spot silver linings in Bitcoin’s chart that are suggestive of a reversal to the upside, not an extension to the downside as some analysts have come to expect. …

17% Of Miner Revenue is Coming From Fees

May 16, 2020 boss

With the block reward cut in half, miners are relying on Bitcoin (BTC) transaction fees to sustain themselves to a much greater extent. Miners lost 61% of their revenue May 10, miners earned 2188 BTC, May 12, this number fell to 852 BTC — a 61% drop. The halving of the block reward forced some miners off the chain, reducing the network hashrate. This in turn led to the increase in block interval, meaning that fewer block processed in a unit of time, decreasing the number of block rewards available…

Bitcoin Halving, Reddit Using Ethereum, JP Morgan Dabbles in Crypto

May 16, 2020 boss

Another week, another round of Crypto Tidbits. Bitcoin has seen quite the tumultuous week, The cryptocurrency started off the week with a bang, collapsing from ~$9,700, the weekly open price, to a low of $8,100, in a dramatic sell-off that liquidated over $200 million worth of long positions on BitMEX and hundreds of millions of more on other exchanges. Despite the drop, which came a day before the much-awaited block reward halving, the cryptocurrency has since recovered, rallying as high as $10,000 on Thursday, though Bitcoin has since returned to ~$9,400.…

Vitalik Says He Has ‘Some Respect’ for How EOS Handles Governance

May 16, 2020 boss

In a recent series of tweets, Ethereum co-founder Vitalik Buterin gave a nod of approval to competing blockchain EOS with regard to the niche they are trying to carve out. “If I were designing a new chain to live alongside Bitcoin and Ethereum, I would take all the political tradeoffs that BTC and ETH aren’t willing to take,” Buterin said in a May 15 tweet referring to Bitcoin and Ethereum. Vitalik labeled EOS aspects of interest Listed by Cointelegraph as the fifth most influential person in crypto and blockchain, Buterin holds significant weight…