Crypto news digest: Bitcoin bull rally and disappointed Ethereum miners
To what extent will the Ethereum mining reward be reduced? How will Bitcoin price behave in the short-run? What crypto update was introduced by Google? Let’s discuss the main events of the week in the world of blockchain and cryptocurrencies.
Ethereum mining reward will be reduced
Creators of Ethereum initiated a proposal, according to which the reward for mining a block will be cut by one third – from 3 to 2 Ethers. At the same time, they plan to delay the increase in mining difficulty.
say it is done for the so-called ice age expected after the shift to the PoS algorithm to come as late as possible. Moreover, in such a way they reduce the chances of the network split made by disappointed miners.
The team of Ethereum believes that the hybrid protocol Casper with new network parameters will not be launched in 2018. That is the reason why developers try hard to reduce the increase in mining difficulty, which is a common thing after the shift to Proof-of-Stake.
Google adds cryptocurrencies to its converter
Google’s embedded currency converter has new cryptocurrency features now. Users can calculate the cost of Bitcoin, Ethereum, Bitcoin Cash, and Litecoin in the national currency.
When relevant queries are made, the search engine automatically shows the converter line at the top of the page. By default, the price of digital assets will be shown in the local currency. Exchange rates of the embedded converter can differ from prices on different crypto exchanges.
Bitcoin bull rally
Studying Bitcoin’s behavior, the senior market analyst of eToro investment platform Mati Greenspan said the price of the first cryptocurrency stands at the very beginning of a long-lasting rise.
He called the current situation with Bitcoin “the cusp of the largest Bitcoin bull run in history”. Answering the question what exactly will happen with the price, the analyst said that current fluctuations that seem to be substantial would be flat on the chart.
Other financiers support such an opinion: cryptocurrency lead at Capco Romal Almazo and head of Digital Currency Group Barry Silbert. They believe that Bitcoin has “hit the bottom”.
Bitcoin strengthens positions
On July 24, the Bitcoin price surpassed the mark of $8 thousand, which is psychologically important for traders. Analysts can consider this fact to be a confirmation of their forecasts.
At first, the price fluctuated around $7800 and later fixed in the position above $8000. The market capitalization was equal to $135 billion. The Bitcoin Dominance Index reached the record level of 2018 comprising 47.1%. This figure is growing now.
The prices of most altcoins responded to the positive dynamics of BTC with a steady growth.
Waves launches a fully featured client
Waves has finished the development of the Waves Client app. Now users of the blockchain platform have access to the full version of the service.
The major changes were introduced to the decentralized Waves DEX exchange, where customers trade cryptocurrencies. According to developers, they improved the consistency of operation, added the possibility to search for assets, and changed the interface.
Moreover, users can create their own digital assets and store cryptocurrencies in the built-in wallet using Waves. Creators of Waves also plan to integrate the application with hardware wallets.
Follow the news of the blockchain industry in Ukraine and throughout the world on the website of Blockchain & Bitcoin Conference Kyiv.