Bitcoin and Altcoins Positioned for Further Upsides

Bitcoin price recovered recently and moved above the USD 7,500 resistance.
Ethereum price gained traction and traded back above the USD 600 resistance.
Many small cap coins, including NXS, BNB, ONT and WTC gained more than 10%.


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Bitcoin found support below the USD 7,400 level and started an upward move. BTC/USD jumped above the USD 7,500 resistance to gain traction. Similarly, major altcoins recovered nicely and moved above key resistances. The best of the lot was Ethereum, breaking the USD 600 barrier. Overall, the market sentiment improved, which could lead more upsides in bitcoin and altcoins in the near term.

Bitcoin
Bitcoin price is currently trading 2.5% higher to USD 7,620 (GMT 09:30), with an immediate resistance near the USD 7,680 level. Above this, the BTC/USD pair will most likely accelerate gains towards the USD 7,800 and USD 8,000 resistance levels.
On the flip side, if the price starts a downside correction, the USD 7,500 level may act as a decent support. Below the stated USD 7,500 support, the next key support zone is near the USD 7,400 and 7,350 levels.
Ethereum
Ethereum jumped back above the USD 600 barrier, which is a positive sign. However, ETH/USD is struggling to gain upside momentum above the USD 610 and USD 620 resistance levels. Once there is a break above USD 620, the price will most likely revisit the USD 650 zone.
A bearish reaction from the current levels may perhaps push the price back in a negative zone below USD 600. The next key supports on the downside are at USD 580 and USD 575.

Bitcoin Cash and Ripple
Bitcoin cash gained bullish momentum from the USD 1,050 support area and broke the USD 1,100 barrier. BCH/USD is currently up more than 4.5% and is trading well above the USD 1,100 level. The next resistances on the upside are at USD 1,150 and USD 1,160. Supports on the downside are at USD 1,100 and USD 1,080.
Ripple price remained in a bullish zone above USD 0.65. XRP/USD is slowly grinding higher and is currently trading near the USD 0.67 level. The next major hurdle for buyers is near the USD 0.70 level.

Other Altcoins Market Today
Many small cap altcoins gained bullish traction today, including NXS, BNB, ONT, WTC, GXChain, ReddCoin, VERI and ELA. Should the current market sentiment remain intact, there could be more gains in the altcoins in the near term.
Additionally, a break above the USD 7,650 resistance may perhaps accelerate bullish moves in BTC and altcoins.



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Author: Aayush Jindal
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John McAfee predicting huge surge in cryptocurrency prices!

 

In spite of falling cryptocurrency prices, John McAfee, for one, is convinced there’s a boost in the near future…


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After another day where cryptocurrency prices took a hammering (with Bitcoin falling below $8000), John McAfee has sided with the people predicting another rally is just around the corner.

As per Tweets from his Twitter account on Monday, McAfee – who made his money originally, of course, through security software – argued that changes are afoot in the cryptocurrency sector. Ones that’ll have a positive impact on prices.

John McAfee

@officialmcafee

“”Institutional investors are preparing to enter the cryptocurrency market with a vengeance. They are generally long term investors and will be pumping billions into the market. Expect the top ten coins to go through the roof fairly quickly. The bulk of alt coins will soon follow.””


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5 Penny Cryptos Set to Explode In 2018!!

The name of the game for most investors and traders in the crypto space is finding that one overlooked diamond of a project that will bring 10x, 20x, or 100x returns. Although most projects will never deliver their investors these gains, there are always some gems hidden in the endless list of cryptocurrencies.

The question remains whether investing in penny cryptocurrencies is worth the risk, and if these risky investments can produce solid returns. After some research into penny cryptocurrencies worth following for the rest of 2018, we found the following 5 candidates.
Disclaimer: This is not professional financial advice and you should always do your own research. Remember to never invest more than you can afford to lose!

Quantstamp
Designing smart contracts is highly complex and therefore comes with a lot of risks regarding potential bugs and vulnerabilities. The team behind the blockchain project Quantstamp is trying to make the process of creating and deploying smart contracts a lot safer through its security-audit protocol.

This security-audit protocol is designed to find weaknesses in the design of smart contracts and signal to the developers before the smart contract is launched. This protects both users and investors, as threats of privacy breaches and loss of funds are filtered out by the protocol. The protocol is designed, and constantly developed and improved, by the decentralized network of Quantstamp through proposals by contributors. These contributors are mostly security experts, but each proposal still has to be voted on by the community.

Additionally, Quantstamp also provides a bounty program in which smart contract creators can use the native token QSP as a reward for bug finders. These “bounty hunters” are skilled programmers within the Quantstamp community who try to find flaws in the smart contract design.

Even though Quantstamp is based on the Ethereum blockchain, it’s blockchain agnostic when it comes to scrutinizing smart contracts. This means that the Quantstamp protocol can also be used for smart contracts launched on other blockchain platforms such as NEO, Lisk, or Waves.

The security audits are already up and running, and for the rest of 2018 Quantstamp has two milestones to achieve. The launch of their mainnet is scheduled for August, and the team expects its smart contract insurance mechanisms to be in place by October.

Origintrail
Supply chains are often mentioned as one of the main business areas open to disruption by blockchain technology, and for good reason. Supply chain management is currently an inefficient process in which people try to align different deliveries from globally dispersed organizations into one smooth process. Keeping track of all data flowing between supply chains while ensuring the quality of products and services has become a tremendously complex problem.

Origintrail is a blockchain project that is aiming to disrupt the supply chain process. Its decentralized platform is designed to make supply chain processes transparent by allowing organizations to share supply chain data on the Origintrail platform. Through this, data is secured on the blockchain and the process of sharing data becomes synchronized, efficient, and automated.

For businesses, the Origintrail platform can allow them to severely reduce the costs associated with supply chain management through optimized efficiency. To ensure the trustworthiness and quality of the supply chain participants’ data, Origintrail has created consensus check algorithms and methods for data quality checks.
For consumers, the Origintrail platform provides a convenient way to track the origins of a product. They can see the entire supply chain of a product and assess whether the involved organizations are environmentally responsible, what value and components each step in the chain added to the product, and where a product originates from.

Expectations for 2018 are high for the Origintrail project due to their highly ambitious roadmap. Both the testnet (June) and their decentralized network launch (Q3) are set for this year. Moreover, the team expects a maximum of 30 new projects, voted in by the Origintrail token holders, to launch on the decentralized network in 2018. The management of supply chains is about to change due to the power of blockchain technology, and Origintrail is a serious contender in making this happen.

Qlink
Qlink is the world’s first decentralized mobile network. This blockchain startup has committed itself to disrupting the mobile network industry by creating a new, peer-to-peer based mobile network platform.

Currently, there are several issues with mobile network companies. Firstly, the costs are more expensive than they should be due to inefficiencies. Customers pay for huge overhead costs and are charged hefty transaction fees for small data and mobile usage packages. Moreover, subscriptions for mobile networks are highly inefficient and leave people with either a lot of excess capacity at the end of the month, or they run out and have to pay an additional fee for a booster pack. Additionally, open Wi-Fi networks are not very secure and make user devices susceptible to hacks by moderately skilled digital criminals.

Qlink has set out to create a platform for a shared mobile network. People with excess capacity on their devices or a powerful Wi-Fi hotspot can earn Qlink’s native token (QLC) for renting out their spare Wi-Fi to other people.
Another service the startup plans to provide is a decentralized SMS service. This service allows people with excess SMS allowances to sell these text messages on a decentralized platform. For example, one use case is that companies can buy these SMS assets in bulk, and then in turn use them for marketing programs and verification and registrations codes.

Based on Qlink’s roadmap, this could be the year that this project goes big. Their SMS and Wi-Fi products have already been launched this year, and these are just the beginning. We can expect mobile data billing smart contracts, a Qlink wallet, a Qlink router, and the cherry on the pie is the launch of the public Qlink chain.


ICO of the week:
Vanywhere.com:
Working product – ✅
Major player involved – ✅
Experienced team – ✅
Active community and social channels – ✅
Potential of mass adoption – ✅


Polymath
ICOs have raised tremendous amounts of capital. However, there are dark clouds ahead as most regulatory bodies across the globe are heavily scrutinizing this new model of fundraising. The biggest concern with ICOs conducted for cryptocurrencies is that they are similar to securities. Securities are a traditional way to raise capital, and issuing a security comes with strict regulatory requirements; governments want to apply these requirements to ICOs too.

Regulatory bodies haven’t found proper classification for cryptocurrencies as whole, and especially which cryptocurrencies should be classified as securities. Because of this, businesses that want to get in on the crypto revolution and raise capital through issuing their own tokens are hard-pressed figuring out how to do this, while remaining compliant with regulations.

Meet Polymath, a security tokens platform that has set out to connect traditional methods for raising capital with the new way, through cryptocurrencies. Polymath wants to create a platform which transforms shareholders (shares) into token holders (security tokens). They have replaced the term ICO with STO, which is an acronym for Security Token Offerings. The STOs will launch on Polymath’s decentralized platform. As a service, the platform helps companies overcome the technical and legal challenges companies face when wanting to issue their own token to raise capital.

Polymath’s native token, POLY, has Know Your Customer services built into it, making it compliant with regulations and thus allows for investments in other projects. To optimize the KYC functionalities of the tokens and the platform, Polymath has partnered with another blockchain startup, SelfKey.

Traditional ways of raising capital such as stocks, bonds, venture capital, and private equity function much better on a properly designed blockchain. Ownership is easily transferable and indisputable, and capital can move hands quickly without intermediaries. Securities have an accumulated value of trillions of dollars, and given that blockchain technology can upgrade to a securities market, a new mega trend for security tokens can be expected.
By providing tools for security token-issuing companies and by being a legally compliant platform, Polymath can very well become a leading industry player in the security tokens market. According to the company’s own predictions, the security tokens industry can have a $10 trillion valuation by 2020.

Ravencoin
Ravencoin is a cryptocurrency that is designed to facilitate the transfer of assets on its peer-to-peer network. This includes sending different cryptocurrencies between token holders. The Ravencoin is not meant to be digital cash, but has been created for censorship resistance, privacy, and user control.

Blockchain technology is superior to other technologies in its ability to indisputably assess who owns what. Ravencoin, in turn, will focus on one specific function: transferring assets from one party to another. Bitcoins, for example, can be transferred rapidly, easily, and without interference between wallets. Ravencoin’s case is that people will want this ease of transferability of other assets such as securities, commodities, and other asset holdings as well.

Ravencoin is built on a fork of the Bitcoin code, using the extensive testing and development of Bitcoin’s protocol but with some tweaks. These tweaks are a faster block reward time, making it more energy efficient, and a change in the number of total coins available.

Ravencoins can only be mined – thus, there was no ICO (which means no direct whales), no allocation of funds or pre-mined coins (no exit scams, and Ravencoin is less susceptible to heavy market manipulation). Moreover, the mining process of the coin is ASIC-resistant through Ravencoin’s x16R algorithm. This means the mining power is more fairly distributed.

The project started with some Bitcoin developers wanting to see what more was possible, and Ravencoin was the result of this experiment. Sitting at a little over $0.03 at the time of writing, Ravencoin could be a great investment, especially given that this cryptocurrency has over 400 Bitcoin developers that have made over 14,000 commits involved.
Moreover, the Nasdaq-listed company Overstock has expressed interest in the coin, even investing “millions of dollars” in the project. For now, the actual transfer of assets on the Ravencoin platform still has to come off the ground, but for sure it’s a project to keep an eye on.

Concluding Remarks
These 5 projects all have a high-risk/high-reward ratio. However, we believe their potential return does exceed the involved risk. Although Qlink, Quantstamp, and Origintrail have defined roadmaps for 2018 while Ravencoin and Polymath do not, we think these 5 cryptocurrencies all have a solid shot a exploding over the course of 2018. This is based on the service they are creating and the expected developments during this year. Let’s see how these projects have impacted our portfolio on January 1, 2019!


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: Jorn van Zwanenburg
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Nano the next to Boom? Price Prediction

In a little less than 24 hours, Nano (NANO) was listed on the popular exchange known as HitBTC.com. This exchange is ranked 8th on coinmarketcap.com and using the criteria of exchanges that charge transaction fees alone. HitBTC is currently doing $340.6 Million in daily trade volume at the moment of writing this. The HitBTC addition makes 31 exchanges in which Nano is listed in.

With respect to the market performance of Nano, the coin is currently trading at a value of $7.24 and down just 1.76% in the last 24 hours. However, there was a notable spike yesterday that can be attributed to the addition of Nano on HitBTC. The coin did a slight pump from $7.13 to $7.32 in a period of less than 20 minutes.

This slight pump is grounds to investigate the numerous Nano price predictions that have been active on the web.

$121.46 per Nano One Year from now!

This price prediction has been done by a custom algorithm that predicts future prices of all crypto listed on coinliker.com. This means that Nano is predicted to grow by 1,500% in the next 12 months. This might sound like a huge percentage growth, but anything is possible in the exciting domain of cryptocurrencies.

$25 By December 2018

This price prediction is brought to you courtesy of coinfan.net. This prediction is very realistic given that the total marketcap of the cryptocurrency market has grown by a factor of 10 in the last 12 months. At a date similar to today back in 2017, the total market cap was valued at $40 Billion. The same market cap is now at $422 Billion. Therefore, $25 per Nano might be right on the money come December.

$40 Per Nano by End of 2018

This price prediction is based on the premise that Nano had traded at the levels of $34 earlier on in the year. This then places the coin at a possibility of surpassing this by the time we get to the end of the year.

In conclusion, the good thing about the known crypto markets is that more and more traditional stock investors are looking into, or are already investing in crypto. They in turn are bringing in much needed external funds to boost the market cap of the entire crypto-verse. This follows the same trend witnessed by top notch wallstreet firms (Soros Fund Management), embracing crypto trading with open arms.

This means that the only direction is up for the value of all coins and tokens in the markets.

 


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: John P. Njui
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Bitcoin and Altcoins Back On Positive Track

Bitcoin price completed a downside correction and bounced back above USD 9,000.
The crypto market is ignoring sell fear after Mt Gox moved BTC 16,000 to an unknown address.

Three altcoins – Gifto, Bitcoin Diamond and Mithril rose more than 40% today.

Yesterday, we discussed a downside correction in bitcoin and other major cryptocurrencies. Bitcoin price traded towards the USD 8,600 support before buyers appeared. Later, the market started a fresh upward move and prices recovered. All major cryptocurrencies recovered and almost all small cap altcoins moved in the green zone.


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Bitcoin
As reported, several analysts have predicted widespread cryptocurrency market volatility after Nobuaki Kobayashi, the trustee of defunct exchange Mt Gox, moved BTC 16,000 and a similar amount in Bitcoin Cash to an unknown address. However, the market is ignoring sell fear and bitcoin price found a strong support near the USD 8,600 level. BTC/USD bounce back and moved above the USD 9,000 pivot level. The price is currently up 5.8% to USD 9,240 and is trading with a positive bias above USD 9,000.
An immediate resistance is at USD 9,300, followed by the USD 9,500 level. A break above the stated USD 9,500 level could clear the path for a test of the all-important USD 10,000 barrier.
If the price corrects lower once again, the USD 9,000 level may perhaps act as a support. Below USD 9,000, the price will most likely retest USD 8,600.

Ethereum
Ethereum bounced back sharply after testing the USD 600 support. ETH/USD broke the USD 625 and USD 640 resistance levels and is currently trading 6.2% higher to USD 660.
The price is trading with a bullish angle and it seems like it may continue to rise towards the USD 675 level today. If buyers gain control, a break above USD 675 may perhaps push the price above USD 700.

Bitcoin Cash and Ripple
Bitcoin cash is slowly recovering and is currently up 7.7% to USD 1,390. BCH/USD has to break the USD 1,400 resistance level to continue its upward move. Above USD 1,400, the price may test the USD 1,440 – USD 1,450 resistance zone.
Ripple moved the USD 0.80 and USD 0.82 resistance levels and is currently trading with more than 5.5% gains. XRP/USD is back in a positive zone with resistances on the upside at USD 0.84 and USD 0.85.

Other Altcoins Market Today
Many small cap altcoins moved higher today and registered more than 20% gains, including Gifto, Bitcoin Diamond, Mithril, Siacoin, MonaCoin, ReddCoin, DigiByte and Pundi X.

The overall market sentiment turned bullish again and it seems like bitcoin and altcoins are back on positive track for more upsides during the upcoming sessions.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: Aayush Jindal
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Litecoin (LTC) blazing the way to crypto adoption, as it’s added to Market Watch!

There is no doubt that the crypto market has gone mainstream, and Litecoin (LTC) is blazing the way. A few days ago, Litecoin proved that it is possible to send money at unimaginably low fees and in matter of seconds. $99 million was sent using Litecoin at a cost of $0.40 and in under 150 seconds. That’s an indicator that cryptos are taking over the financial services industry, and could easily make banks obsolete. However, the true hallmark of crypto adoption will be when the older generations start interacting with them, both as investments and as currencies. And today, that journey seems to have kicked off.
A few hours ago, Market Watch announced that they will be adding Litecoin and several other cryptos to their data feed. The big deal is that Market watch is mostly used by the older generations, people who are looking to keep track of stock market prices. You can easily tell this by the kind of comments that Market Watch received after they made this announcement.


ICO of the week:
Vanywhere.com:
Working product – ✅
Major player involved – ✅
Experienced team – ✅
Active community and social channels – ✅
Potential of mass adoption – ✅


The comments are from clearly people who seem to have some understanding of finance, but are yet to understand crypto. Take these two comments made after the announcement as an example,
“We don’t want these quotes. We want to know where markets for REAL things are trading.”

Another one read,
“Cryptocurrencies are the Junk Bonds of the 2000’s only TEN TIMES WORSE! You’d be safer buying futures in the North Korean won currency. Cryptocurrencies are nothing but Ponzi Schemes. Look up the word Crypto. It means “Secret, Hidden, unknown”…. How appropriate.”
Clearly these are comments from older people who have an understanding of finance, but are yet to grasp the whole concept of cryptocurrencies. The good news is that now that it is out there, they will begin to understand it, and Litecoin (LTC) will be one of the biggest beneficiaries. That’s because it has the utility that they need.

For instance, everyday people need to send money via banks, a very expensive and slow process. How do you think they will react once they learn that they can achieve the same end, at a fraction of the time, and for pennies? They will most likely adopt it, and that’s how Litecoin and crypto in general will grow.
The case for large-scale adoption by the older and wealthier generation is also validated by the announcement by NASDAQ that they could become a crypto exchange in the future once regulations come in place. NASDAQ is another financial services platform that is well known to mom-and-pop as a bridge to investing in the stock markets. Once it starts dealing in crypto, you can expect such people to start taking an interest in this market, and that will be the beginning of the next phase of growth.

One thing is clear though, crypto is entering an interesting phase in its growth, and Litecoin (LTC) is a front-runner. If such positive vibes continue from mainstream finance and Litecoin continues to prove itself as a viable payments method, $1000 valuation would be in the offing sooner than you can imagine.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: Floyd Cook
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NEO (NEO) set for a Bullish run in 2018!

NEO (NEO) is one of the few altcoins that has so far been relatively flexible given the volatile nature of the cryptocurrency market; the coin has managed to stay in the top 10 digital currencies in market cap. NEO has had a cumulative return of over 26000% since the coin was developed in China over a year and a half ago. Investors have been bullish on the coin although its price had recently dropped by over half at the end of February 2018.
NEO has been on a steady recovery in the past month with its price struggling to hit the $60 mark again.

One of the main reasons that have made NEO a very popular coin is its strong base in China where crypto enthusiasts have ranked it the same level as Ethereum.
The diversity in NEO (NEO) infrastructure is one to be admired by any long term crypto investor; the altcoin is built with the same purpose as that of Ethereum. In the recent past enhancement of security by digitization of assets has seen the blockchain technology adopted by quite a number of big corporates and countries. The NEO network is powered by GAS coins that play a major role in supporting smart contracts to be deployed within the platform. Transactions per second is among the issues that Bitcoin is currently trying to resolve besides dominating the crypto markets, NEO is reliable when it comes to tps with over 10,000 transactions. This is enabled by the consensus method used in NEOs infrastructure; Byzantine Fault Tolerance Consensus.

NEO (NEO) is a potential cash cow if the cryptocurrency market is long-term even for investors looking to join the NEO community right now. This is due to the following reasons;

NEO’s price has been positively affected by its association with OnChain. Investors that have been bullish on this cryptocurrency believe that this is among the reasons NEOs volume change has been quite impressive with the coin at position 2 out of the 8 Mid Cap coins as of press date. OnChain’s business model and protocol aims at making blockchain more valuable by distinguishing the crypto and blockchain arena.

The diversity in the NEOs network offers a wider range of assets than most platforms; users globally can be able to exchange digital assets with NEO coins while Ethereum has mostly focused on exchange of cryptocurrencies only based on the ERC20 protocol. Investors looking for stability attributed to diversity in a coin’s blockchain platform would be delighted to know that NEO’s average monthly return is at a comfortable 106%.
Ease of use within the NEO network has been significant in the coin’s adoption. Users within the platform will find it easier to deploy smart contracts due to the multiple languages a developer can use in the network. NEO allows a wider scope of programming languages than peer coins like Ethereum; one can use basic languages like Java and interact with smart contracts and other users in the network efficiently.

The digital currency has had a good run when it comes to partnerships with over 15 significant financial intermediaries working together with NEO’s team. Red Pulse is one of the few examples that have believed in NEO’s infrastructure and it is expected the coin’s value will benefit from strategic partnerships in future.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: Edu Gachaja
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Monero Fork Underway In Bid to Block Big Miners

A hard fork of privacy-centric cryptocurrency monero executed this morning, but the success of the roll-out is still unclear.

At block number 1546000 (08.20 UTC on Friday), the software upgrade of the cryptocurrency went live, according to early data. Due to the controversial nature of the upgrade, the monero community have gathered on social media to observe its levels of adoption.

While monero hard forks are frequent, the current upgrade introduces a new consensus algorithm intended to protect the network from the emergence of ASIC mining hardware.

Announced by hardware supplier Bitmain last month, monero’s rejection of the ASICs has led to several competing cryptocurrencies, including monero classic and monero original, that intend to preserve the former ASIC compatible software.

As such, the monero community is observing the hashrate, or speed of which the cryptocurrency is mined, in an attempt to gauge adoption.

Fluctuations in hashrate have caused some concerns on the monero sub Reddit, however, core developer “hyc” told CoinDesk, it will be “a couple hours for us to see how the network overall hash rate settles out.”

Additionally, monero enthusiasts are observing the former chain and compiling lists of mining pools that have yet to upgrade.

The new upgrade will also increase monero’s ring size from 5 to 7, in an attempt to increase the robustness of the privacy tool, and protect against a denonymization vector introduced by a further monero competitor, moneroV.


 

Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author Rachel Rose O’Leary

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