Block.One, the firm behind the EOS blockchain and token, proposed a major change to the network’s resource allocation system that would require users to rent network resources. According to a blog post published by Block.One on Dec. 21, the proposed changes aim to avoid network congestion caused by the inability to employ unused Central Processing Unit (CPU) time and bandwidth (NET) resources because users own them. According to Block.One, the network suffers from a poorly designed resource allocation system that allows most of the network’s resources to go unused despite significant demand, precluding the network from operating at full. During …
Digital asset financial services firm BitGo has launched a new staking service for the clients who store their assets with its qualified custodian subsidiary BitGo Trust. A press release published on Oct. 3 revealed that the new service will initially launch with altcoins Dash (DASH) and Algorand (ALGO), with more assets to be supported in the future. Staking vs. mining Staking is specific to proof-of-stake (PoS) blockchains and essentially allows network participants to earn a form of “interest” by depositing their tokens to both maintain the network and potentially earn rewards. As opposed to proof-of-work blockchains like Bitcoin, nodes in …
Major United States-based cryptocurrency exchange and wallet service Coinbase has added support for EOS, according to a press release on May 30. The new addition is reportedly available for trading and storage in most areas covered by Coinbase, with the exception of the United Kingdom and New York at press time. The announcement also notes that there are no transaction fees associated with EOS; the cost is instead paid in computing resources, such as a tax on RAM, CPUs, or network bandwidth. Users that run the network also earn EOS by contributing to the computational power needed to run transactions. …
August 1: Crypto assets have seen a second day of losses, with Bitcoin (BTC) now well below the $8,000 psychological price point and most of the major crypto assets in the red, according to data from Coin360. Market visualization from Coin360 Bitcoin (BTC) is trading around $7,490 to press time, having lost almost 3 percent on the day. Since the coin’s July 25 peak at $8,431, the leading cryptocurrency dipped down below $8,000 yesterday for the third time this week. The coin saw another sharp drop this morning, before trading sideways. Bitcoin’s 7-day price chart. Source: Cointelegraph Bitcoin Price Index …
Wednesday, July 11: crypto markets are experiencing a slight decline with the total market cap down just $2 billion from the same time yesterday. Market visualization from Coin360 Bitcoin (BTC) is fluctuating between $6,300 and $6,400 price points today. At press time, the cryptocurrency is trading at around $6,330, down 0.8 percent over the 24 hour period. Bitcoin price chart. Source: Cointelegraph Bitcoin Price Index Ethereum (ETH) is down 0.75 percent on the day, trading at $434 at press time. Ethereum price chart. Source: Cointelegraph Ethereum Price Index Total market capitalization of all cryptocurrencies is similarly slightly down from yesterday …