Connect with us

Blockchain

Ethereum Core Devs Outnumber Those Working On Bitcoin Per Month Claims New Report

Ethereum (ETH) is the second largest cryptocurrency by market capitalization and recently upgraded its network via the Constantinople hard fork. The successful upgrades reportedly saw the network block count more than double following the activation of the “difficulty bomb” update. Now, another report is out, ostensibly showing that Ethereum the number of core developers working […]

Source link: Ethereum Core Devs Outnumber Those Working On Bitcoin Per Month Claims New Report

Published

on

Ethereum (ETH) is the second largest cryptocurrency by market capitalization and recently upgraded its network via the Constantinople hard fork. The successful upgrades reportedly saw the network block count more than double following the activation of the “difficulty bomb” update.

Now, another report is out, ostensibly showing that Ethereum the number of core developers working on the coin’s base protocol is double that of leading cryptocurrency Bitcoin (BTC).

Having the most core developers on a monthly basis puts Ethereum ahead of all other cryptocurrencies, and according to the report, these numbers do not even include community project developers.

The revelations are part of a study published on Medium by Electric Capital, a crypto asset management firm.

Ethereum core devs double Bitcoin’s

As per the research article, Electric Capital obtained its data by fingerprinting over 20,000 code repositories and over 16 million commits- with the resultant data showing that ETH has a monthly average of 216 developers who contribute to its repositories.

Besides, the firm notes, the above data somehow undercount the total number of developers on the Ethereum network, mainly because the data does not incorporate “ecosystem projects like Truffle.”

Just as well, the above data on Bitcoin (BTC) developers exclude ecosystem developers, which still give the leading cryptocurrency by market cap a monthly average of 50 developers.

However, the report goes on to reveal that per data sets on core protocol contributors, Ethereum leads as “the most active” with an average of 99 developers per month. In comparison, Bitcoin has a monthly average of 47 developers working on its core protocol.

Other top cryptocurrencies like EOS (EOS), Cardano (ADA) and Tron (TRX), all defined as Ethereum competitors, have monthly averages of more than 25 core protocol developers.

The overall number of active developer increases

Electric Capital notes in its report that the number of active developers on the top projects has remained high even when the crypto bear market led to most cryptocurrency prices declining by over 80 percent since the 2017 crypto boom.

According to the firm, data shows that despite the huge drop in prices, the percentage of monthly active developers has dropped by only 4 percent.

Notably, also, is that public coin repositories have seen the number of developers increase tremendously from 2017, doubling in the last two years to reach 4,000 developers working on over 2,800 public coins.

Excluded from the above data sets are developers working on private coins, those yet to be launched or what the report calls non-coin networks- like the Lightning Network.

Despite the increase in overall developers working on top projects, some platforms have seen dwindling numbe4rs over the same period.

For example, Litecoin (LTC) saw its developer base decline from a monthly high of 40 to measly three, while Dogecoin (DOGE) has reportedly not had any developers for several months now.

Since October last year, less than five developers have contributed to the protocols of bitcoin forks Bitcoin Gold and Bitcoin Diamond.

While Ethereum co-founder Vitalik Buterin has previously said that the smart contracts and dApps platform was created to improve on Bitcoin’s functionality, others, like the CEO of Square and Twitter Jack Dorsey, have continued to spend heavily to see further developments on the Bitcoin network.


Disclaimer: This is not investment advice. Cryptocurrencies are highly volatile assets and are very risky investments. Do your research and consult an investment professional before investing. Never invest more than you can afford to lose. Never borrow money to invest in cryptocurrencies.

Source link: Ethereum Core Devs Outnumber Those Working On Bitcoin Per Month Claims New Report

Source: https://xbt.net/blog/ethereum-core-devs-outnumber-those-working-on-bitcoin-per-month-claims-new-report/

Blockchain

Cardano, Ontology, Crypto.com Coin Price Analysis: 19 September

Published

on

Cardano formed a bearish pattern on the charts as it braced for another dip in its price. The bearish pressure on the crypto-asset abated briefly, but sellers once more stepped in at a level of resistance to effect a slide for ADA. Crypto.com Coin, on the other hand, formed a bullish pattern. Ontology also displayed signs of bullishness.

However, since major altcoins seem to bleed whenever Bitcoin makes a move to the upside or down, another move could invalidate altcoin chart patterns.

Cardano [ADA]

Cardano, Ontology, Crypto.com Coin Price Analysis: 19 September

Source: ADA/USD on TradingView

Cardano appeared to form an uptrend from its recent lows as it briefly rose past its resistance at $0.097. However, sellers have prevailed since and the price was forming lower highs over the past week.

ADA formed a descending triangle pattern, as shown by the white line. This was accompanied by falling trading volume, also highlighted by the same. Such a bearish pattern signaled an imminent drop in the asset’s price.

The next level of support for ADA, beneath $0.091, lay at $0.085.

Cardano was in the news recently when IOHK announced a $250K public fund for Cardano community innovation, Project Catalyst. “Anyone can bring their idea and create a proposal,” the announcement said. “Through a public vote” winning proposals will begin a development process, it added.

Ontology [ONT]

Cardano, Ontology, Crypto.com Coin Price Analysis: 19 September

Source: ONT/USD on TradingView

The 20, 50, and 100 SMA (white, yellow, and pink respectively) showed that the past couple weeks have seen an uptrend. Their crossovers also indicated bullishness in the near-term.

Further, the MACD was forming a bearish crossover over the past few days. And yet, the previous week saw every price drop beneath this support being bought up as many candles near the $0.78-support level had significant tail wicks.

The outlook for ONT remained bullish, but a close beneath the support might suggest short-term bearishness.

Crypto.com Coin [CRO]

Cardano, Ontology, Crypto.com Coin Price Analysis: 19 September

Source: CRO/USDT on TradingView

Crypto.com Coin was forming a bull pennant on its 4-hour charts. The same was evidenced by the white lines which formed the pennant, while the yellow line formed the flag pole of the pattern. The height of the flagpole is generally the upside target for this pattern. Here, the target would be $0.19.

The Parabolic SAR also gave a buy signal. The dots formed by the indicator would be a good place to set a stop-loss, as the pattern would be invalidated if the price closes beneath the pennant.

Source: https://eng.ambcrypto.com/cardano-ontology-crypto-com-coin-price-analysis-19-september

Continue Reading

Blockchain

MyCoinStory is the 1st exchange to list SUN and KLAY derivatives

MyCoinStory is the first cryptocurrency exchange to launch SUN and KLAY tokens derivates SUNUSDT and KLAYUSDT future contracts are the first MCS’s “Colorful Quanto” products This comes as a part of expanding MCS’s portfolio of products Today comes the news of the world first. MyCoinStory (MCS), a global exchange specialized for trading cryptocurrency derivatives, has […]

Published

on

  • MyCoinStory is the first cryptocurrency exchange to launch SUN and KLAY tokens derivates
  • SUNUSDT and KLAYUSDT future contracts are the first MCS’s “Colorful Quanto” products
  • This comes as a part of expanding MCS’s portfolio of products

Today comes the news of the world first. MyCoinStory (MCS), a global exchange specialized for trading cryptocurrency derivatives, has listed SUNUSDT and KLAYUSDT future contracts.

Both of these products are the very first of their kind in the world. They are also among MCS’s first two offerings in what they call the “Colorful Quanto” group of products.

SUN token in SUNUSDT futures is widely considered to be the most acclaimed experimental Decentralized Finances project run by the TRON Foundation. As a reminder, TRON Foundation is the company behind TRON Protocol.

KLAY token is the native currency of the Klaytn blockchain behind which is the Ground X. This company is the subsidiary of the largest South Korean mobile platform, Kakao Corporation.

MyCoinStory offers quanto futures

Quanto contracts are special derivative instruments that are not settled in either base or counter currency of the pair. Instead, they are settled as a different asset. In the case of these two products, settlements are in bitcoins.

MyCoinStory has announced that it will continue to focus on introducing new unique quanto contracts products. This they hope will preserve their position as leaders in the market.

There is a wealth of different cryptocurrencies on the market, and often they show a high frequency of fluctuations. With quanto features, MCS is striving to increase the diversity of products they offer on their trading platform.

What is MCS?

MyCoinStory or MCS is a brainchild of financial and blockchain experts. It’s a trading platform centered around bitcoin derivative products.

As their mission, MCS states the curation of a democratic trading platform for cryptocurrency derivative. One where anyone can trade with disregard for their location of level of expertise.

For this purpose, MCS has partnered with custodian BitGo, one of the leaders in the digital assets custody industry. Based on the customers’ feedback, MyCoinStory continually improves its trading platform and diversifies its products’ offer.

Continue Reading

Blockchain

Etherum Fees Double In a Week As DeFi Heats Up

The average fee for transactions on Ethereum has reached its second-highest level ever, after setting the record earlier this month.

Published

on

In brief

  • The average Ethereum transaction fee rose to more than $11, more than double last week’s figure.
  • Daily average fees still haven’t dipped below $2, continuing a record-breaking streak.
  • More hash power is being added to the network.

Ethereum fees remain at historically elevated levels, as miners scramble to add capacity and profit from record-breaking network activity levels.

Average transaction fees on the Ethereum network have more than doubled since last week, rising to $11.61 on September 17 and maintaining a streak of prices above $2 that’s now lasted for more than a month, far longer than any previous stretch at those levels.

The Ethereum blockchain hash rate—the amount of computational power that supports the network—has also increased to levels unseen since 2018 as miners add capacity to their operations, signaling market activity on both the supply and demand sides that have (almost) never been higher.

Fees paid by users to send tokens or interact with smart contracts on the Ethereum network serve as a measure of network activity, with higher averages translating to more transactions on the network. The average fee of $11.61 was the second-highest daily average on record, only falling short of the record $14.58 average daily fee set a few weeks earlier on September 2, according to blockchain data provider BitInfoCharts.

The total amount of mining power helping process transactions on the Ethereum blockchain has also been on the rise. Ethereum miners use ‘rigs’ of connected computer graphics cards (GPUs) to produce blocks for the Ethereum blockchain, adding ‘hash power’ to the overall pool. In return, miners receive a small and gradually decreasing block reward of ETH, as well as mining fees paid by users to use the network. 

With fees at some of their highest levels ever, miners have been adding more and more hash power, increasing the total close to 250 terahashes per second—that’s 250 trillion tries to find the right mathematical computation to find the next blockchain block. That figure is up 30% since the start of July according to blockchain explorer Etherscan, and the hash rate has only ever been higher during a period from February to November 2018, when the hash rate peaked at more than 290 terahashes per second. 

Record activity on the Ethereum network is being driven by DeFi, a system of decentralized applications enabling non-custodial, crypto-based lending services and fees for users providing liquidity for trades on decentralized exchanges. DeFi aims to replace centralized rent-seeking financial institutions with protocols offering the same services, but in the hands of the community of supporters and users.

With average fees at some of their highest levels ever and Ethereum miners gearing up for even more network activity, it seems like ETH prices, still off from a recent September 1 peak of more than $480, could be headed skyward, too.

Continue Reading

Trending