The latest news about digital currencies
in the third week of April 2020
 |
| The latest news about digital currencies in the third week of April 2020 |
This week's news is far from the Corona virus and its major impact on the crypto market, as Ethereum finally managed to compete with Bitcoin in the value of daily transactions that are sent over the network. China has also created a new Block Chain alliance that includes several large companies, local and international, and the Block sector has witnessed Chen has a lot of support from the South Korean government to invest in this field and many other news so follow us.
Ethereum competes Bitcoin in the value of daily transactions
According to the famous analyst Messari, the average daily value of transactions on the ethereum network on the 12th of this month reached $ 1.5 billion, and thus she was able to finally catch the currency of Takween which has always been the first in this area. The daily value of the daily value transfer expresses the total value of the various digital assets that are exchanged through each platform's blockchain network such as cryptocurrencies.Ethereum platform is characterized by its support of several different currencies, including its own currency ETH, in addition to some stable digital currencies that Tether is the most prominent. In the past Bitcoin was significantly superior to Ethereum in the value of daily transactions, and in the month of July of 2019 this value reached $ 3 billion, while Ethereum until the end of 2018 did not exceed the value of its transactions 115 million dollars, but its expansion and support many of Currencies finally made it able to compete with Bitcoin.
It is worth noting that this is not the first time that Ethereum has outperformed Bitcoin. In 2017, the average number of transactions per second rose to 4.7 on the Bitcoin Network, which was considered the largest value reached by the platform at the time, but Ethereum in 2018 managed to achieve 15 transactions per second outperformed Bitcoin. Also, active monthly Bitcoin developers did not exceed 47 developers until last month, compared to 99 active developers on Ethereum platform.
The South Korean government is encouraging blockchain in the country
A few days ago, Korean Vice Minister of Strategy and Finance Koo Yun-cheol held a meeting to talk about the future of Blockchain with several experts within this field from the private sector, where the deputy indicated that Blockchain market is still expanding and it is expected to increase by 80% with Each year, in addition to the fact that the great support this field receives from foreign countries, it is beginning to draw attention to Blockchain as a promising technology that will form an important part of the future of technology around the world.Yun-Cheol stressed that the big difference between South Korea, China, the United States and Europe regarding blockchain technology can be reduced in the next three years, and the government has not mentioned the value of material support in this field, but this meeting is an additional step in South Korea's path to development This is the industry in the country, where other ministries announced last month their support for Blockchain by raising $ 3.2 million in funds to help startups and local businesses.
Ethereum founder criticizes the idea of mining on smartphones
Vitalik Buterin, co-founder of the famous Ethereum platform, posted a tweet on Twitter criticizing the idea of mining over phones, describing it as a “game of fools,” pointing to HTC’s announcement of its intention to allow users of its HTC Exodus block to mine the Monero digital coin, as he indicated. Until that contradicts everything we know about the hardware and hardware economy of it, in other words, deceiving users and giving them false hope instead of helping them.HTC launched at the end of last year its second version of the Exodus phone intended for fans of digital currencies and blockchain, and several days ago it officially announced that the phone will be able to mining Monero digital currency in the near future, and the company has stated that the excess energy exchange and costs incurred by it is possible that It goes down if mobile phones enter the mining world, and also indicated that the application that will Monero mining will be designed to stop automatically when the phone is not connected to the charger.
A new blockchain alliance in China
China has announced a new blockchain alliance that aims to build an open platform for innovation, communication and cooperation. The platform supports Blockchain technology and its own applications and services. The alliance has taken its headquarters in the Intelligent Industry Group within the Chinese city of Chongqing, and included the joining of more than 100 of the largest Chinese companies such as Huawei, Inspur, Tencent, Alibaba and Baidu as well as international companies such as IBM.The Union also announced, in the opening ceremony, the launch of the Yu Express Chain public block platform, which is based on Inspur Blockchain Services platform of Inspur, as this platform aims to provide blockchain services and development to large institutions and companies that may wish to benefit from this technology in the future.
A subsidiary of Alibaba Group launches a new blockchain platform
Alibaba Group’s subsidiary Ant Financial launched a new blockchain platform called OpenChain, which will allow developers and small and medium-sized companies to use new blockchain tools to learn about this technology more broadly and to explore better smart applications, solutions and contracts so that they can benefit from them.According to Jin Ge, Global Director of Ant Financial, the platform will enhance the efforts of nearly one million medium and small companies and developers in the blockchain field and OpenChain will provide a variety of tools that can be used to create software and services related to many areas including financing, digital invoices and donations as well, thus making available Blockchain technology and ease of use for sectors that need this.