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Ethereum Sharding and Anonymity Attack: This Week in Crypto

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Make sure to take a look at the last few weeks here, now let's move on review what happened in crypto this week.

Price monitoring:

  • Bitcoin is up 5% this week at $ 9,990. The price dropped to $ 9,200 this week and lost support at this level before diving briefly below $ 9,000. The price has quickly recovered to the level of $ 9,300 on Thursday before climbing up to $ 9,900. Technical analysts are now watching closely as Bitcoin is still trying to retest the critical level of $ 10,000. Heavyweight analysts remain bullish, especially in the short term.
  • Ethereum is up 16% this week which means Ethereum has made double digit gains for 3 of the last 4 weeks. After successfully retesting the critical level of $ 800 this week, Ethereum's gains managed to once again release the cryptocurrency market capitalization of more than $ 450 billion. These key technical factors combined with new projects / uses, praise from technology leaders, very strong projections and project improvements led to higher prices. Another key factor will be the SEC's decision on whether Ethereum is a security that should come out next week. Many expect that Ethereum is not considered a security, and this is reflected at least partially in the price.
  • The entire cryptography market gained 8% this week after a strong 10% gain last week and double-digit gains in the previous two weeks.

Regulation:

  • Japan puts pressure on trade to cancel the list of "anonymous" crypto-currencies: Sources close to the FSA (Financial Services Agency), a Japanese regulatory agency, have reported this week that the FSA measures available "to put pressure on national trading platforms to abandon support for altcoins that promote anonymity.Some say the move was motivated by the record CoinCheck hacking that the Japan hopes to prevent in the future.
  • Federal Reserve: Bitcoin Is Like "Regular Currency" – In a blog post published this week on the St. Louis Federal Reserve's blog, the Federal Reserve attempted to compare crypto- currencies to currencies they are more "boring" than what people think.
  • Indian Law Protects Cryptocurrency Investors – The Reserve Bank of India (RBI) continues to face legal challenges this week because of its ban on buying cryptocurrencies.
  • Iran Bans Telegram: The Iranian judiciary has banned Telegram on Monday accusing the popular courier application of allowing armed opposition groups to fuel the troubles. National ISPs have been forced to comply and will be prosecuted for disobeying the order.
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Startups:

  • Coinbase valued at $ 8 billion in the share capital presented as part of the acquisition of earn.com exchanges. This $ 8 billion represents a huge increase over its $ 1.6 billion valuations last August, when the stock market concluded that it was the round of Series D. The change The valuation is likely attributable to the new product line for institutional investors.
  • Comcast Ventures Bullish on blockchain : The fund's general manager, providing an analysis of the current market said that the setback was to understand the "real applications" of blockchain technology and that investors are likely to see a huge push in the short term. Despite their optimism, the exchange is still waiting for the "killer application" of blockchain.

Upscaling:

  • Mastercard Evolution Block Chain Patent : Mastercard International filed a patent application for accelerated data processing on blockchain systems to increase the volume of transactions. The move is a surprise to some considering that Mastercard has called cryptocurrencies in the past as "anonymous shit".
  • Ethereum announces sharding: Ethereum creator, Vitalik Buterin, has announced that Sharding, a much-anticipated scaling solution for the Ethereum blockchain protocol, is coming up . The sharding is considered an important part of the 100-fold increase in scalability that experts believe is needed to support large-scale decentralized applications.

Miscellaneous:

  • Buffet still hates crypto: Warren Buffet, addressing Yahoo Finance at Berkshire Hathaway's annual shareholder meeting, again compared the purchase of bitcoin to the "game". The main problem of Buffet with crypto-currencies is that they are not "valuable productive assets". Only time will tell who's right.

Image from Shutterstock to photo

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