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Ripple (XRP), EOS, Litecoin (LTC)

The cryptocurrency market is trending upwards today as most coins within the top 100 are currently trading in the green. Bitcoin (BTC) is currently trading over $6,600 and Ethereum (ETH) is just below the $300 mark.

Let’s take a closer look at Ripple (XRP), EOS, and Litecoin (LTC) today and the latest movements with each of these projects.

Ripple (XRP)

Ripple has been making steady moves with its xRapid product lately.

xRapid is Ripple’s product geared towards financial institutions, that is powered by XRP. Just recently, Ripple signed partnerships with three crypto exchanges to make them preferred exchanges for the US dollar, Mexican Pesos, and Philline Pesos.

At press time, XRP is trading at $0.337 a coin, up 2.56%, in 24 hours. Ripple remains the third largest cryptocurrency by its total market cap.

>> Ripple’s Bittrex Partnership

EOS

Block.one, the company that invented EOS, is in the middle of their global hackathon. The EOS hackathon is a competition incentivizing developers to build dApps on the EOS platform for cash prizes.

The Beijing hackathon and Sydney hackathon have already been completed and the two other locations for the upcoming hackathons have been announced. The grand finale location and date has yet to be announced.

The next EOS hackathon will take place in London, on Sept 22nd and 23rd and the fourth hackathon in San Francisco will be held on November 10th and 11th. Exact locations of these events are TBD.

At press time, EOS is currently trading at $5.03 a coin, up 5.32%.

Litecoin (LTC)

There hasn’t been any major news regarding Litecoin this week, but last week, ItBit announced that it would be trading LTC soon.

ItBit is a digital currency trading platform that is regulated by the NYDFS. This is expected to drive up the price of the cryptocurrency.

Also, the first Litecoin Summit will be taking place in 22 days on September 14th and 15th. Tickets are still on sale and it will be held at the South San Francisco Conference Center, in San Francisco, California.

At press time, LTC is trading at $75.61 a coin, up 4.36%, in 24 hours.

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Cryptocurrency Market Fall | EOS, Litecoin (LTC), & Tron (TRX)

As we start out the fourth week of August, we see most of the cryptocurrency market fall. Bitcoin (BTC) is trading just below $6,500 and Ethereum (ETH) has once again dipped below $300. This weekend, the market took a slight rise and almost peaked over $225 billion, but has since been corrected.

Let’s take a look at EOS, Litecoin (LTC), Tron (TRX), and their latest project updates today.

Cryptocurrency Market Fall – EOS

For the third month in a row, EOS has been given the top rating spot on China’s national blockchain ratings. The CCID Research Institute in China gives out blockchain ratings once a month and EOS has been their top choice the past month and a half.

The top ten ratings are as follows:

  1. EOS
  2. Ethereum
  3. Komodo
  4. Nebulas
  5. NEO
  6. Stellar
  7. Lisk
  8. GXChain
  9. Steem
  10. Bitcoin

This weekend, EOS regained its spot as the fifth largest cryptocurrency, as Stellar briefly passed the cryptocurrency for a few days.

At press time, EOS is trading at $5.13 a coin, down -2.85% in 24 hours.

Cryptocurrency Market Fall – Litecoin (LTC)

There hasn’t been any big news regarding Litecoin lately. There have been no new partnerships or updates to the Litecoin network.

The first Litecoin Summit will be held in San Francisco mid-September.

Litecoin’s founder, Charlie Lee, will be speaking at both days of the event and there will be a meet and greet after day 2.

Also, eToro published its own market research on Litecoin recently. The research document summarized Litecoin’s 2018 price drop by saying:

“Given that Litecoin has an established and stable working product, as well as significant adoption, this bear market of the whole cryptocurrency industry could have lead to Litecoin being oversold.”

Cryptocurrency Market Fall – Tron (TRX)

Just recently, the Tron Foundation made the official announcement that it had acquired BitTorrent and not all Tron enthusiasts are thrilled. Even some BitTorrent investors weren’t happy with the acquisition either. However, what’s done is done.

Bram Cohen, the inventor of BitTorrent, has also officially stepped down from his role within the company fairly quietly but people have taken notice.

According to the Next Web:

“TorrentFreak reports that Bram Cohen has severed ties with BitTorrent Inc, the company that he founded in 2004, after inventing and launching his Torrent protocol three years earlier. There has been no official announcement from TRON or the BitTorrent inventor on this development. TorrentFreak received an auto-response after trying to reach out to Cohen’s BitTorrent email, it became clear that the address was no longer active.”

>> Crypto Daily News: Bitcoin Cash (BCH) Futures Launched & 21-Year-Old Charged with Bitcoin (BTC) Money Laundering

Frankly, this makes total sense as he sold over his company to Tron for over $140 million and can’t expect to have control of what happens with his company.

At press time, Tron remains the 12th largest cryptocurrency by market cap and is trading at $0.0218 a coin, down -1.97% in 24 hours.

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EOS News | Fourth EOS Global Hackathon Location Revealed

In EOS news today, Block.one announced the location for its fourth EOS Global Hackathon.

EOS Global Hackathon

The fourth location for the EOS hackathon was released today by EOS’s maker Block.one. It will take place in San Francisco, California on November 10-11th. Like all of the other events that have already taken place, the hackathon challenge will be released on the day of the event.

Registration is $10 a person. Teams are allowed to participate in this event, but each team member must pay their fee separately. Block.one is now accepting applications for the fourth Hackathon event.

>> First EOS Hackathon Results

Past Hackathons

The first EOS Hackathon was held in Hong Kong back on June 9-10th and had a total of 350 entrants composed of 90 teams from 17 different countries that participated! $144,000 USD was awarded at the event, and the top three teams will compete in the final hackathon in December.

The second Hackathon was held in Sydney Australia on August 4-5th and had over 50 teams participate. The developers in the hackathon programmed for 26 consecutive hours. $144,000 USD was given out to the winners of the event, and the top three winners were all Australian teams.

The third hackathon will be held in London, England on September 22-23rd. Block.one is still accepting registration for this event and the location has yet to be established. The CEO of Block.one, Brendan Blumer, and the company’s CTO, Dan Larimer, are all excepted to be judges for the third hackathon event.

Although the fourth event was announced today, the location within San Fran is still unknown. Block.one will also be announcing the grand finale hackathon location soon, but it is set to take place in December of this year.

Have any guesses? New York? Paris? Toronto?

Check back in for more EOS news.

>> India Crypto Regulations Hopefully Finalized by End of 2018

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China Ranks EOS Number One Again

The third round of blockchain rankings has been released by the Chinese government. Yet again, China ranks EOS number one.

The rankings, released by the government-backed China Electronic Information Industry Development (CCID), evaluate the public blockchain networks with three different metrics. The metrics include technology, applicability, and innovation.

Previous Leaders

CCID released its first set of rankings back on May 16th, where Ethereum was ranked the world’s top blockchain network.

As you can see from the first rankings, EOS wasn’t included at all. The second set of rankings were released back on June 21st, and EOS overtook Ethereum for the number one spot. Surprisingly, NEO, China’s version of Ethereum, has yet to make a number one appearance on the rankings.

NEO became fully backed by the Chinese government when the country started implementing all of its crypto regulations and its government firewall.

The second set of top 10 rankings were as follows:

  1. EOS
  2. Ethereum
  3. NEO
  4. Stellar
  5. Lisk
  6. Nebulas
  7. Steem
  8. BitShares
  9. Ripple
  10. Qtum

China Ranks EOS Number One… Again

The new set of rankings released yesterday has left EOS and Ethereum in their same places. EOS is still at the top despite all of the complications the project faced when it launched its main net.

The evaluators must be impressed with EOS’ consensus algorithm, which uses a delegated proof-of-stake (DPoS) that prioritizes speed and scaling at the expense of some decentralization.

Ethereum, however, is currently still using a Proof-of-Work (PoW) consensus algorithm but has recently published a roadmap to transition to PoS.

The new list of CCID’s top 10 blockchain ratings are:

  1. EOS
  2. Ethereum
  3. Nebulas
  4. GXChain
  5. NEO
  6. Stellar
  7. Steem
  8. Lisk
  9. Waves
  10. Komodo

>> 2018 Fortune 40 Under 40: Vitalik Buterin, Brian Armstrong, and More Listed!

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EOS Transaction Speed is Breaking Records

EOS transaction speed: Transaction time is important. It has been a point of concern for many on the Bitcoin network for one, where congestion on the network has created a problem and transaction processing currently takes an average of 8-9 minutes.

In fact, transactions on Bitcoins network have ranged anywhere from 10 minutes to 30 minutes to even 7 days, 23 hours and 53 minutes at its peak in 2017.

But then there is EOS.

EOS transaction speed
Average Transaction times at the beginning of 2018

EOS Transaction Speed Breaks Record

EOS is blowing transaction times out the window with its near instant processing time, and officially, today, it has broken records as it nears 3,000 transactions in 1 second. Days ago, it crossed 2,000 TPS (transactions per second) and its all-time high is now 2822 TPS, though it is heading towards 3,000.

The network has surpassed Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) by a long shot. Ethereum currently boasts 15 TPS, and Ripple — 1500 TPS. EOS still stands way ahead. 

The latest speed was confirmed via Monitor.io, a data-speed checking website.

EOS and Scalability

Block.one, the team behind EOS, has always had a focus on scalability – an issue other networks don’t seem to be as concerned with and it is clear it is making substantial progress (however, it has been criticized for sacrificing its infrastructural decentralization in order to improve this scalability factor of the network, though this remains debatable).

The network has such speedy processing times because it supports inter-chain communications and because EOS use’s a DPOS (aka the distributed proof-of-stake) consensus mechanism, it can easily compute millions of transactions per second by allowing multiple blockchains to work in tandem as a single system, reaching hundreds, thousands and even millions of transactions per second a possibility.

>>Crypto Bull Run: Wells Fargo and Bank of America Patents Push Market Upwards

EOS Price Analysis

EOS transaction speed
Source: CoinMarketCap, EOS Price Chart

 

Currently, the coin has dropped to $8.32 after gaining over $2 in the last two days. This represents a drop of 7.25%. 

Will EOS hit 3,000 TPS soon? The road-runner of the crypto world surely can!

Featured Image: Deposit Photos/ Liufuyu

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