Pythia – Crypto Pythia http://35.76.103.29 Your Source for everything Crypto Fri, 10 Dec 2021 09:19:41 +0000 en-US hourly 1 https://wordpress.org/?v=6.0.5 http://35.76.103.29/wp-content/uploads/2021/08/cropped-Cryptopythia-Logo-32x32.png Pythia – Crypto Pythia http://35.76.103.29 32 32 Cryptocurrency Congressional Hearing – Crypto Current http://35.76.103.29/cryptocurrency-congressional-hearing/ http://35.76.103.29/cryptocurrency-congressional-hearing/#respond Fri, 10 Dec 2021 11:00:15 +0000 https://cryptopythia.com/?p=1011 December 10th, 2021| Mike Humphrey

 

Cryptocurrency Congressional Hearing - Crypto Current

Cryptocurrency Congressional Hearing

Chief executives of six cryptocurrency companies testified before the House Financial Services Committee on Wednesday.  During the five hour session the committee asked questions about cryptocurrency, digital assets and the potential impact of regulations.  The fact finding mission included questions ranging from what is Web3 to what are stable coins, and what are the impacts of heavy handed regulations on the burgeoning industry.  When asked whether decentralized finance was just another form of the current financial system, Mr Allaire responded by saying “I really do believe we are building a new global economic infrastructure layer.”

The transparency and immutability of blockchain was discussed and its benefit to investors, with witnesses urging congress to consider cryptocurrency as a step change in the financial system that could be regulated using existing methods.  It was suggested that opportunities should be created to bring investors into the system safely, similarly to the development of ETF’s and Mutual funds that allow investors to diversify risk without the required knowledge to analyze equities.

Open source vs. closed loop systems like stable coins and DAO’s were recommended over a Central Bank currency and limited access to investment vehicles with accredited investor limitations.

The following Video by Cnet Highlights is a 12 minute summary of the hearing.  If you have the time, we highly recommend watching.

 

 

Cryptocurrency Congressional Hearing - Crypto Current - Trader Joe and Abracadabra

Abracadabra Trader Joe Drama

DeFi drama spilled out onto twitter this week when when @Danielesesta and @traderjoe_xyz started throwing insults at each other over pool subsidies on the Trader Joe platform.  Trader Joe the primary swap platform on Avalanche and @Daniel the creator behind Popcicle, Wonderland and Abracadabra traded blows over the pool rewards announced for AVAX/USDC being much higher than the AVAX/MIM pool (MIM is a stable coin backed by interest baring crypto assets).

Both xJoe and wMemo have seen a drop since the spat broke out.  Here’s hoping that they can forgive forget and get back to business.

 

From all of us here at the Crypto Current, keep on HODLing on and we’ll see you on the moon!!

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DeFi Kingdoms Quests – Crypto Current http://35.76.103.29/defi-kingdoms-quests/ http://35.76.103.29/defi-kingdoms-quests/#respond Fri, 03 Dec 2021 11:10:35 +0000 https://cryptopythia.com/?p=981 December 3rd, 2021| Mike Humphrey

 

 

Crypto Current - December 3rd 2021 - DeFi Kingdom Quests

DeFi Kingdoms Quests Live

DeFi Kingdoms announced this week that quests have finally gone live.  As of November 29th 2021, you can now access quests via the professions area in the game.  Fishing and foraging quests are currently available with more to be released soon.  Up to 6 heroes at a time can take in a given quest, with XP and new in game items as the rewards.  Vendor Zada is also live, and you can start trading your quest items for gold or save them for future use.

 

Patch v1.11.0 has gone live with the following NEW FEATURES:

  • It’s finally here! Let’s go questing! Visit Fisher Tom or Woodsman Aurum to get started.
  • Standard questing cost is 7 stamina per run. Heroes with a main profession that matches the chosen quest will have a reduced cost of 5 stamina per run.
  • Updated art for the Professions zone.
  • New Professions music to get you in the questing mood.
  • Dozens of new in-game items! (Some are still hidden.)
  • In-game item tokens have been added to the token list for easy access.

TIMELINE:

  • December 3rd – Item shop opens up. More inventory arriving soon.
  • December 8th –  Meditation Circle should be fully charged up!
  • December 15th – Gardening Quests.
  • December 22nd –  Mining Quests.
  • January: Land NFTs begin to roll out!

 

In more exciting news, a new realm, Crystalvale was also announced this week.  Read our guide all about how to get started in DeFi Kingdoms.

 


Crypto Current - December 3rd 2021 - Terra Ecosystem on the Rise - 1

Terra Luna  On the Rise

The Terra ecosystem is heating up.  Luna, Terra’s native staking and governance token has seen a 60% surge in value within the past week reaching new all time highs. With exciting projects like Astroport, Pylon, Whitewhale and Mars coming online, the Terra ecosystem is gaining some real traction.  The lock drop for Astroport begins December 6th for those who have staked on Terra.

 

Astroport

Astroport is a new automated market maker(AMM) that will introduce multiple pool types to Terra – a traditional constant product AMM similar to Uniswap, a Stableswap Invariant pool type similar to curve finance, and liquidity bootstrapping pool type similar to Balancer style pools.  Astroport has a highly flexible architecture which will allow the protocol to continue to develop novel pool types.  One of the most anticipated aspects of Astroport is the Astro Generators, which will allow for dual farming opportunities using protocols like Anchor.

$UST, Terra’s USD pegged stable coin has seen an increase in acceptance with recent partnerships with Curve finance and Abracadabra on Ethereum mainnet.  As the $UST stable coin market cap grows and it is accepted across a wider variety of chains, Terra is sure to follow.  Terra ranks number 5 in smart-contract chains based on TVL with around 12.6 Billion.  It is also partnering with Metaverse games like Summoner’s War.  Keep an eye on Terra in the future, or get involved now with projects like Anchor and Mirror who offer some great returns on stable coins.

From all of us here at the Crypto Current, keep on HODLing on and we’ll see you on the moon!!

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Talecraft Launches – Crypto Current http://35.76.103.29/talecraft-launch/ http://35.76.103.29/talecraft-launch/#respond Fri, 26 Nov 2021 13:00:56 +0000 https://cryptopythia.com/?p=900 November 26th, 2021| Mike Humphrey

 

 

Talecraft $craft Launch

Talecraft.io

The creators of Talecraft, the newest crypto game releasing on the Avalanche network, have had a busy November.  This week Talecraft went live on the Fuji- C test net, giving users the first chance to try out the game.  The funding round on Avalaunch also closed this week on November 23rd and was the the Avalaunch’s biggest IDO offering to date.

Talecraft is a PvP, play-to earn online board game, that allows users to craft in-game NFT cards and use them to compete with other players.  $Craft, the in-game token is used to open chests and mint new cards.  Players then compete with others and earn AVAX rewards.

$CRAFT will available to the public on Trader Joe on November 26th.

 

Crypto Current Novermber 26 2021 - India Bans Private Cyptocurrencies

India Banning Private Cryptocurrencies

In a move to create a framework for government sanctioned digital coins, India’s government will ban most cryptocurrencies.  A bill, planned to be introduced to parliament Monday, will prohibit all private cryptocurrencies in India.  Authorities have cited concerns that digital money may lead to illegal acts like money laundering, drug trafficking and terrorism as justification for the move.  In 2018 India banned the trading of digital currencies, but it was repealed in 2020.  India is one of the fastest growing crypto markets in the world and it’s growth has spurned concerns over control of the emerging market.  There is a growing anxiety by many governments about cryptocurrencies, with China banning all cryptocurrency in September, and regulations being introduced in many parts of the world. 2

 

Crypto Current Novermber 26 2021 - Metaverse 1 Trillion Market

The Metaverse  – A 1 Trillion Dollar Market?

According to the crypto investment firm Greyscale, the Metaverse could represent over a 1 trillion USD annual revenue market.  In a report released Thursday “The Metaverse, Web 3.0 Virtual Cloud Economies,” Greyscale explores the opportunities that could result using the blockchain as the backbone for gaming, social media and online spending.  They estimate that virtual gaming could grow to a 400 billion USD market by 2025, with much of the spending being in-game.3

 

NFT Word of the Year

NFT – The Word of The Year

Collins Dictionary has chosen the term non-fungible token (NFT) as the Word of the Year. Collins defines an NFT as a non-fungible token: a unique digital certificate, registered in a blockchain, that is used to record ownership of an asset such as an artwork or a collectible. 4  A small step for a dictionary, but a giant leap for a crypto kitten.

From all of us here at the Crypto Current, keep on HODLing on and we’ll see you on the moon!!

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Crypto Arena – Crypto Current http://35.76.103.29/crypto-arena/ http://35.76.103.29/crypto-arena/#respond Fri, 19 Nov 2021 12:05:52 +0000 https://cryptopythia.com/?p=827 November 19th, 2021| Mike Humphrey

 

 

 

Crypto Arena

Crypto's first Arena - Crypto Current - crypto arena

Crypto.com just bought itself an early Christmas gift.  The Staples Center in downtown Los Angeles – home of the Lakers, Clippers, Kings and Sparks is to be renamed the Crypto.com Arena.  The new logos will be released Christmas day and signage is to be updated by June 2022.  Crypto.com paid 700M USD for the naming rights for 20 years, making it one of the biggest deals in sports history. Crypto.com’s Kris Marszalek, said “people will look back at this moment as the moment when crypto crossed the chasm into the mainstream.” Chief Executive Dan Beckerman said that “Crypto.com [was] looking for the most unique branding platform to make a statement and drive adoption, and we [were] looking for an innovative, forward-thinking company to help us chart a course for the future of sports and entertainment events.” 1

CRO, Crypto.com’s token has soared since the news broke, reaching a new all time high of 0.59 USD up over 180% this month and 800% since the beginning of the year.  The gains  have been attributed to the new deal with the Arena, and their increased marketing efforts.  They have brought on Matt Damon as a spokesperson.

 

US Infrastructure Law to be Modified?

Crypto's first Arena - Crypto Current - infrastructure law

The infrastructure bill signed by U.S. President Joe Biden on Monday, will require crypto miners and software developers to report customer information to the IRS.  This could be challenging, if not impossible, due to cryptocurrencies decentralized nature.  New legislation, the “Eliminate Barriers to Innovation Act of 2021,” was introduced to congress this week, with the goal of clarifying whether crypto coins/tokens are a security or commodity.  It proposes that a working group composed of industry experts, the SEC, and CFTC take a year evaluate the legal framework for cryptocurrencies.  It would also look at how private key management and cybersecurity are treated under the law and how risks can be mitigated for investors.

 

From all of us here at the Crypto Current, keep on HODLing on and we’ll see you on the moon!!

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Decentralized Social Media? – Crypto Current http://35.76.103.29/decentralized-social-media/ http://35.76.103.29/decentralized-social-media/#respond Fri, 12 Nov 2021 11:00:26 +0000 https://cryptopythia.com/?p=638 November 12th, 2021| Mike Humphrey

 

Crypto Current - Novermber 12th 2021 - Decentralized Social Media

 

Decentralized Social Media?

Twitter Creating A Crypto Team

In late September, we reported that Twitter was adding NFT functinality and Bitcoin Tips.  Twitter’s founder Jack Dorsey, who’s Twitter Bio is literally “#bitcoin” seems to be jumping into crypto, and more specifically Bitcoin, with both feet.  Twitter has announced they are formally launching a crypto team, with the goal of becoming “a center of excellence for all things blockchain and web3.”1  According to the report by Tech Crunch, Twitter will focus on crypto payments and NFT galleries; but the long-term goal is a push towards decentralized social media.  The hope is to allow the social media platform to run independently on the blockchain versus through hosted servers like Amazon Web Services.  Ultimately this would give individuals more control of their personal data.

 

Discord and Metamask

Discord founder and CEO Jason Cirton, tweeted a screen shot this week, depicting Metamask wallet integrated with the platform.  After backlash from the Discord community and calls to boycott their paid service, Citron clarified that the screen shot was an an internal concept and that there were no current plans to implement the integration without further consideration.

 

 

Discord Official Statement

“We appreciate all the perspectives we’ve been hearing in response to the internal concept you may have seen in a tweet earlier this week and want to clarify we have no plans to ship it at this time. We’re excited about the potential for web3 technology and the positive ways these communities are coming together on Discord, especially those organized around environmentally friendly, creator-focused projects. However, we also recognize there are some problems we need to work through. For now we’re focused on protecting users from spams, scams and fraud.”

Facebook Meta Platforms – Metaverse

Crypto confidence got a jolt last week when Mark Zuckerburg announced that Facebook has renamed itself Meta Platforms.  The name change signals that Facebook has embraced the concept of the Metaverse — a vision of the internet as immersive virtual worlds where people can work, play games, conduct e-commerce, and socially interact.  NFT’s and, crypto gaming companies are expected to be big winners from this announcement as play-to-earn virtual economies  are sure to benefit from the added momentum.

Vitalik Buterin Weighs in

Buterin, widely recognized inventor of the world’s most-used blockchain, weighed in on Twitter and Facebook’s upcoming changes.  He Suggested that Ethereum would be the best platform for both Twitter and Facebook’s plans.  In order for Twitter to become the center for everything Web3 “Jack is basically going to have to essentially create his own system that enforces those rules.”  “On Ethereum there’s native functionality that allows you to essentially directly put ETH or Ethereum-based assets into these smart contracts, into these lock boxes, where there’s then arbitrary conditions that can govern how those assets get released,” said Buterin.  As for Facebook’s plan to reinvent the internet, he recommended that Zuckerburg consider building his vision on an already existing blockchain. When asked where Etherum will be in 5 to 10 years, Buterin was quoted as saying “Hopefully running the metaverse.”2

 

From all of us here at the Crypto Current, keep on HODLing on and we’ll see you on the moon!!

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SQUID Rug Pull – Crypto Current http://35.76.103.29/squid-rug-pull-2/ http://35.76.103.29/squid-rug-pull-2/#respond Fri, 05 Nov 2021 11:00:24 +0000 https://cryptopythia.com/?p=692 November 5th, 2021| Mike Humphrey

 

De-Fi

 

Squid Pulls the Rug - Crypto Current

 

SQUID Rug Pull

The play-to-earn cryptocurrency game based on the wildly popular Netflix series Squid Game, appears to have been a hoax.  The site which was widely circulated in the news, including in our weekly report last Friday, has since shut down.  Investors who purchased the SQUID coin in anticipation, saw the tokens price surge by thousands of percent, but were unable to sell their coins.  According to the tech website Gizmodo, developers made off with an estimated $3.38M.  The token peaked above $2,800 when the creators sold all their tokens draining liquidity from the pool and pulling the rug on the project.

 

Hindsight is always 20/20 as they say, but here are some red flags that appeared with SQUID.

  1. Typos on the Site & in the Documentation

    If you went through the squid game website in detail and reviewed their white paper you would have noticed the poor English and odd typos. When we quickly reviewed the site we chocked this up to a language translation issue.

  2. Couldn’t Sell SQUID

    There were reports quite early that SQUID purchasers were unable to sell or swap their coins. Initially this was reported as a required vesting date for the SQUID coins.

  3. Website Age

    The online squid game website was launched only 5 days before the initial offering of the SQUID coin.

  4. Wasn’t Affiliated with the Show

    It was a challenge to find the squid game website and there was no mention of Netflix at all.  This was a big red flag, as there are copyright issues with a third party using the show name and characters without authorization.

 

The online squid game was audited, but an audit does not guarantee the intentions of developers.  Audits do not fix issues, they only identify shortcomings in smart contracts.  Before investing in any project be sure to do your own research.  Rug Doc is an excellent resource.

 

 Crypto Mining

Squid Pulls the Rug - Crypto Current - United States BTC Mining Leader

 

U.S. Picking up China’s Slack

With China’s crackdown on cryptocurrency and expulsion of miners, the hub of Bitcoin mining has changed.  As reported by Forbes, models estimate that the United States has captured 35% of the Bitcoin networks hash rate power, and has emerged as the new Bitcoin mining powerhouse.  Future mining machine orders and projects indicate that this will not change any time soon.  North America’s top six publicly traded BTC mining companies, have all seen significant increases in mining outputs in Q3 and have continued to expand their capacity.

 

Crypto Markets

 

Squid Pulls the Rug - Crypto Current - SHIB ETH BTC

 

Bitcoin & Eth Hit Resistance, SHIB Drops 40%

After reaching a new all time high above 4,600 USD Ethereum has had a correction testing 4,425USD before moving back up towards 4,550.  BTC declined below 62,000USD, with initial support near the 61,500USD level and the next key support near 61,200USD.  SHIB is down 19% trading below 0.0000490USD.  The price of SHIB is now down more than 4o% from its all-time high. SHIB is the the worst performer among the top 100 crypto assets by market cap for the week.

 

From all of us here at the Crypto Current, keep on HODLing on and we’ll see you on the moon!!

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SQUID Coin – Crypto Current http://35.76.103.29/the-squid-game-coin/ http://35.76.103.29/the-squid-game-coin/#respond Fri, 29 Oct 2021 14:00:32 +0000 https://cryptopythia.com/?p=521 October 29th, 2021| Mike Humphrey

 

 

De-Fi

Crypto Current Octeber 29th 2021 - SQUID Coin

 

“Squid Game” – Launches SQUID Crypto

Squid Game, the hugely popular Netflix show has launched SQUID a new cryptocurrency.  The coin was launched on October 20 and sold out within seconds.  Since its launch the price of the coin has rocketed from 1 cent to $2.34 a %2340 increase.  In November, a play-to-earn online tournament that follows the Squid Game show plot line will be launched.  The virtual Squid Game will offer prizes in the newly created SQUID coin.  Winners will earn 90% of the game’s entry fees which will be deposited in a reward pool. The remaining 10% will go to the developers.

**Edit: The website, liquidity pool and twitter page of this project are no-longer operation.  The developers have appeard to pull the rug on the project.  Do your own research before investing in any cryptocurrency project.

 

Crypto Mining

NBMiner Logo

NBMiner 39.6 – Best LHR Hashrates

NBMiner 39.6 was released earlier this week.  The updated version of the software increases Eth mining rates on LHR cards from 71% to 74%.  The update also adds more controls for LHR auto-tuning.  NBMiner seems to be at the head of the class in regards to overcoming the limitations on the Nvidia LHR cards with other miners usually following suit shortly afterwards.  To download the updated miner head to Github, or update HiveOS and make sure to select newest version when configuring your flight sheets.   If you have LHR cards, be sure to check out our article about dual mining with T-Rex miner.

 

Crypto Markets

Eth Reaches New All Time High

Eth’s wild ride seems to be an ongoing theme in our weekly news article, and it has done it again.  This time Eth has it a new all time high, crossing the 4,400 USD barrier to hit 4,416.05 USD.  The rise in price has been attributed to the Altair upgrade to the Beacon Chain, that brings Eth 2.0 one step closer to realization.  Altair is the first upgrade to the Beacon Chain since it went live December 2020, and it is also likely the last upgrade before the merge with mainnet.

 

Crypto Current Octeber 29th 2021 - Ethereum Altair Upgrade

 

Paul Hauner, the lead developer of the Altair code told Cointelegraph:

“Altair introduced two primary changes. Firstly, it added support for light clients, which are low-resourced nodes that follow the chain with fewer features and slightly weaker security assumptions. Think of a lightweight node on your phone or in your browser. Secondly, it increased the penalties for being offline and for slashing. These penalties were set low from genesis, so we didn’t penalize users who were just learning the ropes. The merge will increase these penalties even more. Apart from these two primary changes, there was a handful of efficiency and tidiness.”

Japanese Crypto Exchange Licensed as a Derivatives Paltform

Liquid, one of the world’s largest crypto-fiat exchanges has announced that they have acquired a type 1 license in Japan, allowing them to trade derivatives on their platform. Liquid has over 800,000 customers with a reported daily trade volume of $1.1 Billion across 2021.  A launch date for derivatives trading has not yet been announced.

 

From all of us here at the Crypto Current, keep on HODLing on and we’ll see you on the moon!!

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Stuck Metamask Pending Transaction – Quick Fix http://35.76.103.29/metamask-pending-transaction-stuck/ http://35.76.103.29/metamask-pending-transaction-stuck/#respond Wed, 27 Oct 2021 11:00:44 +0000 https://cryptopythia.com/?p=169 A Stuck Metamask pending transaction is one of the most common and irritating issues.  They sit in your cue, and block you from using your wallet. Below is a step-by-step guide on how to quickly fix Metamask and get your wallet back up and running.

 

 

October 27th, 2021| Mike Humphrey

 

More Metamask Guides

Why is the Transaction Stuck?

There are two main causes of stuck transactions.  Either it is stuck due to gas fees, or because an error occurred when Metamask submitted the transaction to the blockchain.  The first step in fixing the problem is to determine which of these two reasons is the cause. To do this, open Metamask, select the Activity tab, and click on the pending transaction.

 

Fix Metamask Pending Transaction Stuck - The Right Way - reset metamask - select account - 1

A new window with the details of the transaction will open. From here click on the “Transaction created” entry in the Activity Log.  This will take you to the block explorer in your web browser, where you can check to see if the transaction was submitted properly.

Fix Metamask Pending Transaction Stuck - The Right Way - Why is your transaction stuck 2

  1. Pending on Blockchain

    If your transaction is shown as pending on the blockchain it means that it was correctly submitted and is waiting in the cue.  A transaction can get stuck as pending on the blockchain if the gas fees were not set high enough. This means the transaction has not been picked up by validators, and other transactions with higher gas fees are being validated first.  The block explorer should show the transaction as pending, as seen in the screenshot below.

    Fix Metamask Pending Transaction Stuck - The Right Way - Block Explorer Showing Pending

    Solution

    1. Speed Up the Transaction

      You can speed up a transaction by increasing the gas fee. Go back to the Activity tab and Click on Speed Up.  You will then be asked to increase your gas fees.

    2. Cancel the Transaction

      To do this go to the Activity tab and click cancel.

    Fix Metamask Pending Transaction Stuck - The Right Way - Select Transaction
    Fix Metamask Pending Transaction Stuck - The Right Way - Increase Gas Rates or Cancel

     

  2. Error in Metamask Cue

    Periodically Metamask will experience errors when sending transactions to the blockchain.  Metamask will register the transaction as sent and will wait for a response.  If not properly submitted, Metamask will wait indefinitely for a confirmation, resulting in a pending transaction sitting in the cue.  In this case, when you check the block explorer it will return an error showing that the transaction does not exist.

    Fix Metamask Pending Transaction Stuck - The Right Way - Block Explorer Transaction Does Not Exist

    Solution

    Restart Chrome

    If you restart Chrome, it will cause a reset in Metamask and it will clear the cue. In the Chrome address bar type in the command “chrome:restart”. This will cause the Chrome browser to shut down and restart, which will reload Metamask. If this does not work proceed to the next step.

Fix Metamask Pending Transaction Stuck - The Right Way - Restart Chrome

Other Options

  1. Reset Metamask

    If the above steps fail to remove the transaction you can reset Metamask.  This is a soft reset that will not require you to recover your account, it will simply restart Metamask and remove your Activity cue.  If your transaction is stuck on the blockchain, resetting Metamask will not immediately solve the problem.  You will have to wait for the transaction to time-out before clearing the Activity log.

    How To Reset Metamask

    Click on the account icon circle, select settings, advanced, and click reset account.

     

    Fix Metamask Pending Transaction Stuck - The Right Way - reset Metamask - 1

  2. Re-Install Metamask

    If all else fails you can remove Metamask and re-install. Doing this will require you to re-download Metamask as well as use your key phrase to recover your wallet. This should only be used as a last resort. Entering your key phrase can be potentially dangerous if a hacker has access to your system.

    How To Re-Intall Metamask

    1. Uninstall Metamask

      To uninstall click on the puzzle icon in the top right corner of your browser. Select manage extensions and in the new window click un-install Metamask.Fix Metamask Pending Transaction Stuck - The Right Way - Uninstall metamask

    2. Install Metamask

      Download Metamask and re-install the extension.

    3. Recover Wallet Using Key Phrase

      When you restart Metamask select import using seed phrase, and follow the instructions.Fix Metamask Pending Transaction Stuck - The Right Way

 

Let us know if this guide helped you fix a stuck transaction in the comments below.

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Ethereum 2.0 Delayed? – Crypto Current http://35.76.103.29/ethereum-2-0-delay/ http://35.76.103.29/ethereum-2-0-delay/#respond Fri, 22 Oct 2021 11:00:43 +0000 https://cryptopythia.com/?p=391 October 22nd, 2021| Mike Humphrey

 

Crypto Mining

 

Crypto Current - October 22nd 2021 - Difficulty Bomb Delayed

 

 

EIP 4345: Difficulty Bomb Delay to June 2022

Early in October EIP4345 was created.  The EIP delays the planned December 2021 difficulty bomb to Jun of 2022, extending the Ethereum 2.0 Delay.  This is great for miners looking to ge the most out of their rigs before Ethereum no longer supports Proof of Work.

What is the Difficulty Bomb?

The difficulty bomb was created to force developers to implement proof of stake.  The bomb significantly increases mining difficulty which would decreasing transaction speed and negatively impact on the end user experience.  Delaying the difficulty bomb has become a bit of a running joke and has been going on for over the past 5 years, as developers have continuously kicked the Proof of Stake can down the road.

Significance of This Delay

EIP4345 is a different from past delays.  This delay is shorter than previous ones and is directly linked the proof of stake transition.  Tim Beiko the author of EIP 4345 posted the following tweet in regards to the Delay.

 

Ethereum 2.0 Delay Timeline

Based on Tim Beiko’s tweets it seems reasonable to assume that developers will not meet the current December deadline and June 2022 will give developers a 4 month window to implement proof of stake once the programming for it is complete.  If we count back 4 months from June, that would suggest that the Ethereum 2.0 delay will be until February 2022.

 

Crypto Markets

 

Crypto Current - October 22nd 2021 - Eth Breaks 4300

 

Ethereum  Breaks 4300 USD

On October 21st 2021, Ethereum reached a peak 4,366USD, just shy of it’s all-time-high of 4,385 USD.  Eth has since pulled back to mid 4,100’s, but many expect it to continue on its upward trend.  ETH’s latest jump has boosted its year-to-date profits almost 450%, compared to  Bitcoins 130% returns over the same time span. This has raised the possibility that Eth may post better returns than Bitcoin in the coming sessions.

De-Fi

 

hand holding mobile phone sending stable coin through universal payment channel being received as central bank digital currency in second mobile device

 

 

Visa Working On Cross-Chain Payments

Imagine going out for dinner, splitting the check, and everyone at the table paying with a different type of digital currency.  This is the future that Visa is proposing with their Universal Payment Channel (UPC). The UPC would work across chains by creating a hub that interconnects multiple blockchains and networks allowing users to securely transfer funds without having to worry about interoperability.  As a Hub between the block chains it would allow banks, businesses and consumers to seamlessly work together no matter what the currency being used.  As a trusted brand Visa could provide the security needed for widespread adoption of cryptocurrency use.

 

From all of us here at the Crypto Current, keep on HODLing on and we’ll see you on the moon!!

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LHR Finally Cracked? – Crypto Current http://35.76.103.29/crypto-current-lhr-cracked/ http://35.76.103.29/crypto-current-lhr-cracked/#respond Fri, 15 Oct 2021 14:40:39 +0000 https://cryptopythia.com/?p=282 October 15th, 2021| Mike Humphrey

 

Crypto Mining

Crypto Current - October 15th 2021 - T-Rex Miner LHR Cracked

Dual Mining, did they finally crack LHR?

 

T-rex miner released 0.24.0 version of their crypto mining software last week.  In an attempt to beat the low hash rate limits set on Nvidia’s RTX 3000 series cards, T-Rex has created a miner that will allow you to mine 2 different coins at the same time.  The new software allows you to mine Ethereum with either Ergo, Raven Coin or Conflux simultaneously.  The miner downloads two DAG files onto your GPU and let’s you mine two coins at once.  T-Rex has already released an update 0.24.2 which fixes a Kapow hash rate degradation bug and adds additional functionality to both dual mining modes and LHR auto-tune modes.  For Nvidia 3000 series card miners this allows a much better ROI on the cards.  Read our article for details on how to set up T-Rex dual mining in HiveOS.

 

Crypto Markets

 

Crypto Current - October 15th 2021 - Eth Cracks 3800

 

Ethereum Cracks 3800 USD

Ethereum has been on a tear with a 35% gain since the start of the month.  Despite the turbulence in the market as governments look to assert control over the crypto market, Ethereum has been making serious moves to re-test the $4,000 level of resistance.  If Ethereum can break the $4,000 psychological barrier it may be the stepping stone to a new all time high above $4,400 before the end of year.  Daily volumes for Ethereum has increased by over 20% to $19 Billion dollars.  Bitcoin and Ethreum prices usually correlate relatively well with ETH following BTC trends.  Keep an eye on BTC to see if the upward swing will continue.

 

De-Fi

 

Crypto Current - October 15th 2021 - Coinbase NFT Marketplace

 

Coinbase NFT Market

Coinbase announced this week that it plans to launch an NFT marketplace.  Users will be able to mint, collect and trade non-fungible tokens NFT’s.  You can join the wait list at Coinbase to get first access when the marketplace goes live.

NFT tokens are similar to digital coins, except that each NFT is unique.  They are a one-of a kind digital assets that represent the ownership of items like rare art or collectible trading cards.  This means that each NFT has its own value and attributes making it different from every other NFT.  Coinbase will offer a peer-to-peer platform, making NFT’s more accessible to everyone.

 

From all of us here at the Crypto Current, keep on HODLing on and we’ll see you on the moon!!

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