Posts Tagged ‘ETH


The last few days the exchange rate of Bitcoin (BTC) has been steadily going up and today it has surpassed the $270 USD mark and that may not be the highest point it may reach this time. So you might want to keep a closer look at how things progress, though unfortunately it seems that the peak in price of BTC is not affecting much other coins as Litecoin this time. LTC has been keeping a steady exchange rate for a while now at a little above $3 USD. The exchange rate for ETH/BTC is going down, but due to the increase of the price per BTC the USD/EUR rate for Ethereum is still keeping relatively stable, but low level. This market situation is resulting in miners looking for some alternative coins to try mining and maybe get a better profit instead of the more established or popular ones in the last few days. The results is clearly seen in some altcoins having temporary spikes like DGB or GeoCoin among others, so you might want to keep an eye on the altcoin market for other not so popular names as well.


Ethereum (ETH) is still relatively new alternative crypto currency, even though it has been in development for quite a while, the formal launch of the mining phase happened just about two and a half months. For all that time the total mined Ether coins is roughly a little bit over 2 Million with another 72 Million already available from the crowdsale and various other rewards and incentives. We are keeping a close eye on the development of Ethereum and another reason why we are seeing a decline in the value of a single Ether coins could be due to the still relatively small user base when compared to the total number of coins available. Looking at the number of unique wallet addresses that have left a trace in the Ethereum blockchain shows a bit disappointing number, a bit less than 25 thousand. With less than 4 thousand new ones being added in the last 30 days, growing steadily, but slowly with just about 100-200 average new ones every day. That does not mean that the total number of users or actually generated wallet is this small, it is larger in reality as addresses that have not sent or received any transaction are not listed, but then again you cannot say these are active Ethereum users either. So what Ethereum desperately needs is to increase the rate of growth with more new users that it is currently getting and that includes not only miners…


You can say that the Reputation crowdsale that is now over for what is being called the world’s first decentralized, prediction market – Augur, has been quite successful with over 5 million USD equivalent in Ethereum and Bitcoin collected from 4550 users. The “distributed oracle” application uses Ethereum’s network and is just one of the many Decentralized Applications (DAPPs) that are currently being developed. This is just demonstrating the interest and potential for development of decentralized applications powered by a blockchain and is supposed to realize the full potential of the Ethereum by design. At the same time lately we have been seeing a drop in the price of the Ether coins that are the currency of Ethereum currently being mined by users for a little over 2 months now. Since Ethereum is actually relatively new crypto currency, especially if you consider when was the official launch of the network, even though it has been under development for quite some time we should just now start seeing its potential actually being shown with decentralized applications such as Augur. Do note that Augur has not been officially launched, just their crowdsale of Reputation has finished even though they have a working Alpha version available to get an idea what the platform will offer.