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Ethereum (ETH) | Foundation Hands Out Over $3 Million in Awards

The Ethereum (ETH) Foundation has just announced its fourth set of grants given out to 20 individuals and groups working on the Ethereum blockchain.

Ethereum (ETH) Grants

According to the official press release, the total amount of the fourth round of awards was just over $3 million USD.

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In the announcement, the Ethereum Foundation expresses its gratitude to members of the community by saying:

“Thank you to all the fantastic community members that have applied with creative ideas on how to bolster our ecosystem. We would not exist without the time and energy that you put into Ethereum. While the program continues to grow, we will increasingly continue to involve more community members in the decision making process.”

The biggest grants handed out went to Prystmatic Labs and to States, worth $500,000 a piece. Both of these companies are working on developing Ethereum 2.0.

“The ethereum killer is ethereum, the ethereum of China is ethereum, the ethereum of Taiwan is ethereum… 2.0,” said Vitalik Buterin at BeyondBlock Taipei 2017.

Grant recipients were divided by the manner in which they contributed to the development of the Ethereum network and the importance of their work. Other large grants were given to Finality Labs and Prototypal for front-end state channel research.

The funds given out in the awards comes from the Ethereum Capital Fund, which was founded back in February of 2018. Six large-scale blockchain projects created this fund. Golem, OmiseGo, Cosmos, Raiden, and Global Brain all agreed they would grant $100 million to various projects that developed the Ethereum blockchain ecosystem.

Ethereum co-founder, Vitalik Buterin, also donates money to open-source projects that build solutions to improving the Ethereum blockchain network.

DevCon 4

Currently, the Ethereum team is gearing up for Devcon 4 that will be held from Oct 30th–Nov 2nd in Prague. Tickets are currently sold out to this event. Devcon is Ethereum’s annual conference to educate and empower the Ethereum community to build decentralized applications on the Ethereum network.

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Ethereum News | Shasper Begins and Joe Lubin Funds DrumG

In today’s edition of Ethereum news, we’ll cover the details of Ethereum Startup Parity Technologies adding Casper code to their blockchain toolbox and why Ethereum’s co-founder, Joe Lubin, invested in a competitor.

Ethereum News: Parity Technologies and Casper

Parity Technologies, an Ethereum startup, has just added an early version of the highly anticipated Casper code to its platform, Substate.

The code was released on GitHub yesterday, and the team behind the implementation at Parity is calling it their ‘Shasper’ upgrade.

“Shasper is combination of Casper and sharding. Once it lands, we should see vast improvements in terms of ethereum’s transaction throughput,” Wei Tang, the dev leading the Parity integration, told CoinDesk.

This is the biggest Ethereum news that has broken in quite a while and a positive one, at that. While this is only the first step, the proof-of-stake consensus switch on the Ethereum network is closer. Shasper combines Parity’s in-house scaling solution and sharding, along with Ethereum’s proof-of-stake consensus switch, Casper.

ETH has yet to see a price spike since the news though.

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Ethereum News: Joe Lubin Funds DrumG

Ethereum co-founder Joe Lubin has invested $6.5 million cash in a startup formed by senior-level execs from R3, Ethereum’s most heavily funded competitor, Forbes reported this morning.

Lubin’s ConsenSys blockchain startup will take a minority stake in DrumG. Lubin will also join as the sole outside member of the board of directors.

“The decentralized Web future—Web 3.0, linking corporations to public blockchains—that’s definitely an interledger future,” Lubin told Forbes. “It’s going to be hundreds of thousands of decentralized protocols for trusted transactions and automated agreements.”

DrumG will initially only focus on two platforms that seek to add as many as ten blockchains soon. DrumG seeks to help enterprises better understand how multiple blockchains might help them become more efficient.

DrumG also has a US patent on technology that is designed to standardize the way its clients talk about business workflows.

Are you excited by any of the Ethereum news?

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Ethereum (ETH) Price Prediction | Tom Lee Thinks ETH will Reach $2,000

Tom Lee has been a long-time crypto bull and has faced Wall Street head on. Lee is the managing partner and head of research at Fundstrat Global Advisors. Usually, he gives his price predictions on Bitcoin (BTC), but yesterday he predicted the price of Ethereum (ETH).

Tom Lee Ethereum (ETH) Prediction

“We believe Ethereum is about to stage a trend reversal and rally strongly,” Lee said in a note to clients Thursday.

Ethereum, the world’s second-largest digital asset, is down more than 70 percent this year. In the past three months, ETH has dropped 50 percent and has been passed by XRP twice, according to CoinMarketCap.

Last year, Ethereum outperformed its predecessor Bitcoin in price, but it seems this year is a different story. Investor patience is wearing thin, as it has been almost a year since Ethereum was bogged down by its inability to handle large amounts of transactions.

The Ethereum Foundation held its DevCon3 conference in November 2017 in Cancun. The main topic of discussion with Ethereum’s scalability issue. A month or so later, Ethereum’s network faced just that. It all started with CryptoKitties, which caused the network to be backed up by nearly 30,000 transactions.

This instance showed that Ethereum’s network was not ready for a dApp to go mainstream and take off.

However, Lee feels that “sentiment is currently overly negative on ETH.” The Fundstrat advisor claims that while the coin underperformed its peers by two standard deviations, that is his “sign of capitulation.” Still, Lee feels that Ethereum’s biggest threat is its challenging technical picture, and many analysts feel that’s why the coin will remain in its downtrend.

ETH Price Movement

Ethereum (ETH) has had a wild week on the market. It was passed by XRP twice but regained its second-largest cryptocurrency position within hours of being passed. At press time, ETH is trading at $225.94 a coin, up 3.12% in 24 hours.

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Cryptos in Red | Ethereum (ETH), Ripple (XRP), and Stellar (XLM)

Well is anyone truly surprised that last week’s crypto bull-run is over? There are cryptos in red today across the board. About 95% of the coinmarketcap.com’s top 100 list to be more precise, but we’re interested in the real losers. The top dog’s who are also today’s top losers, including Ethereum (ETH), Stellar (XLM), and Ripple (XRP).

Let’s check in with these cryptos in red.

Cryptos in Red: Ethereum (ETH)

Saturday saw Ethereum reach a high of $251.20. But it has been downhill from there. In the past 24-hours, ETH has made a further 10.32% drop. It is now practically at the same level it was before it began climbing last week. No exact catalyst is driving ETH price today, more than likely this fall is the “must come down” part of the phrase that starts with “What goes up…

Cryptos in Red: Ripple (XRP)

It was inevitable that Ripple would not be able to maintain such highs.

Let’s recap last week: last week, Ripple doubled its value in a 48-hour period. It hit a height it had never hit before—$0.69, which meant the coin had grown over 100%. The reason for the XRP price explosion could be attributed to Ripple Lab’s unveiling that its xRapid project could debut within a month. This seemed to spur on a rally. Importantly it had a knock-on effect on the market; cryptos were green across the board.

But alas, our biggest gainer then is our biggest loser now. XRP has lost 14.43% in the last 24-hours. However, if it can level off sooner rather than later, the coin will still have gained overall this month. Let’s hope investors keep hodling.

Cryptos in Red: Stellar (XLM)

Stellar tends to follow closely behind Ripple trends. Today is no different. The coin is currently down 10.71% and appears to be losing more. It did grow exponentially last week keeping closely by Ripple’s side so can it pare any of these losses?

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Back in March, Stellar announced it would be implementing the Lightning protocol this December. According to the team, it is still on track for that deadline, and this news should excite investors. The Lightning protocol is deemed to be the best long-term solution for scalability on its network. Stellar wants to improve the user’s experience in terms of speed, throughput, and privacy/security.

It seems like crypto is playing a cruel trick sometimes. It seems inevitable that when cryptos go green, there will soon be cryptos in red.

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Ethereum (ETH) Dead? ETH Breaks Record this Week

Mainstream media has recently been sparking the question, “is Ethereum (ETH) dead?” Most journalists running these stories were referring to Ether or ETH, the digital token that runs on the Ethereum network.

Ethereum (ETH) Dead?

The reason the questions were prompted most likely had to do with ETH hitting 2018 lows recently. Most of the market, however, was also dropping at the time.

Despite its downturn, Ethereum has held strong as the second-largest cryptocurrency by its total market cap. Ripple (XRP), the third-largest cryptocurrency, is around $10 billion behind ETH.

Ethereum has faced some serious competition in the blockchain community. Bitcoin was the first cryptocurrency and blockchain. Next, came Ethereum, which built smart contracts on top of its blockchain, making it far more useful and functional than Bitcoin’s original blockchain.

Since it was the first blockchain-based project to develop smart contracts, other projects learned from Ethereum’s initial mistakes and have solved its scalability issue from the get-go. ETH developers are currently trying to solve its current scaling issue, as the network isn’t equipped to handle large volumes of transactions.

Most of the initial coin offerings (ICOs) held in 2017 and 2018 were done so on the ETH blockchain. So, that brings up the question then, “is Ethereum dead?”

Absolutely not.

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ETH Breaks 12-Month Record

Yesterday, daily trading volume for ETH hit a 12-month high. According to CoinMarketCap, the second-largest cryptocurrency witnessed $850,000 in 24-hour trade volume yesterday.

This is the highest daily level that has been reached since September 15th, according to Bitfinex data. Further, the current weekly volume of $2.9 million is the highest Ether has seen since mid-December.

While Ether developers may be scrambling to come up with scaling solutions, this clearly shows investors haven’t given up on the project. At press time, ETH is currently trading in the green at $214.95 a coin, up 4.59%, in 24 hours.

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