๐ฌ Daily Cryptocurrencies & Blockchain Update, October 12th, 11:20:00 CET
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Bitcoin
๐ผ Bitcoin's core developer team isn't yet done scaling the cryptocurrency's protocol. Despite the fact that a years-in-the-making change called Segregated Witness (SegWit) activated on the network just over six weeks ago (with businesses and users now slowly updating and average block sizes inching upward), the upgrade has already started a chain reaction of work on other optimizations geared toward accommodating more users. https://goo.gl/fC8qZM
๐ผ Analysts are more confident than ever that Bitcoin will stay above $5000 today as prices continue surging towards new highs of $5050. Technical data from multiple sources indicates no slowdown in Bitcoinโs charge to retake the historic price level, having increased by $600 since Monday. https://goo.gl/gzdHSA
๐ถ Technical Analysis: https://goo.gl/3yb7pb
Ethereum
๐ผ The next major update to ethereum, the world's second largest blockchain by total value, is set to go live in less than a week. Part of a larger, multi-component upgrade called Metropolis, the so-called "Byzantium" code will be enforced at block 4,370,000 โ or in about four days according to current metrics โ as a hard fork. A common (yet controversial) strategy for upgrading blockchains, this means the changes are required to be accepted broadly by all stakeholders on the ethereum blockchain. In this light, however, it's notable that the use of this mechanism in the past has had mixed results for ethereum. To date, the platform has conducted four hard forks, with only one resulting in the creation of an alternative blockchain, ethereum classic.https://goo.gl/Ub6aeG
๐ผ A team of cryptocurrency startup developers is open-sourcing technology that enables trustless trading between the bitcoin and ethereum blockchains.Now available on GitHub, the code has already been used to execute what startup Altcoin Exchange claims is the first so-called "atomic swap" between the largest cryptocurrencies by market value. As a result of the release, a now larger community of developers can play around with and build on top of the code. For example, using Altcoin Exchange's tech, developers can lock ether tokens in an ethereum smart contract that specifies the funds will only be sent if an equal amount of bitcoin is sent to a bitcoin address during a specific time window. https://goo.gl/QkTa9n
๐ถ Technical Analysis:https://goo.gl/5k4KK5
NEO
๐ผ Plus500.com, a UK based Contract for Difference trading platform has opened a NEO/USD market. Plus500 is available in over 30 languages with both iOS and Android applications available, in addition to a web app. https://goo.gl/rD1LNi
๐ถ Technical Analysis: https://goo.gl/DF2z5J
XRP
๐ผ Akbank becomes first bank in Turkey to use blockchain technology for international money transfer services. https://goo.gl/TZXWXd
๐ถ Technical Analysis:https://goo.gl/wqsBdx
Upcoming ICOs
๐ CopPay starts in 18 days https://coppay.io
๐ Hydrominer starts in 7 days https://www.hydrominer.org
๐ Paypie starts in 3 days https://www.paypie.com
๐ฉ Avoid Colobit.biz
๐ฉ Avoid Dioxen.com
๐ฉ Avoid Moneyspeed.club
Final Summary:
BTC ATH, ETH Fork around the corner still married to $300, XRP Swell 4 days away. We are looking more and more likely of hitting $200BN before the end of the year. If BTC retraces expect that to possibly go into alts as this seems to be the current correlation.
Key Events/Conferences Today:
TRUST Megatrends, A Blockchain Masterclass London, UK
Enjoy your Day
Nextblock Team