Despite Its Success, Ethereum Doesn’t Get Media Attention It Deserves

In stark contrast to Bitcoin’s anonymous Satoshi Nakamoto, Buterin has, for many, personified Ethereum. This has made it easier for many to grasp …

Ethereum’s perception in the media has been on a roller-coaster ride since its inception in 2015, but the blockchain and its native Ether (ETH) cryptocurrency are clearly still seen as being in second place behind Bitcoin (BTC).

While Bitcoin rose to fame due to the notorious Silk Road darknet marketplace and its price climax of $20,000 back in 2017, Ethereum has had fewer notable interactions with the mainstream media, even though some might reference how it enabled the initial-coin-offering craze and made trading virtual cats a worthwhile pastime.

Vitalik Buterin is Ethereum personified

Ethereum’s co-creator Vitalik Buterin has been, and still is, significantly influential in shaping its image in the media. In stark contrast to Bitcoin’s anonymous Satoshi Nakamoto, Buterin has, for many, personified Ethereum.

This has made it easier for many to grasp what Ethereum is, with its own foundation led by Buterin and other notable figures such as Gavin Wood of Parity Technologies and Joseph Lubin of Consensys.

Anyone doubting the influence of Buterin should consider the wide reporting in crypto media of anything Buterin wrote on Reddit or Twitter — where he currently has just under 1 million followers — during the ICO craze.

The temptation to conflate Ethereum and its co-creator proved irresistible to the mainstream media and helped shape the way it reported on the fate and workings of a blockchain that should operate without trust.

In his 2018 interview with the Financial Times — a publication normally reserved for central bankers, CEOs and other dignitaries — Buterin is characterized as “running a $125bn blockchain.”

The relatively favorable impression of Ethereum, compared with Bitcoin, in the mainstream media has been shaped by the story of a 19-year-old programmer who started Bitcoin Magazine, one of the Bitcoin-related publications, to earn some BTC, which led him to eventually create Ethereum, which birthed a whole wave of innovation for this emerging technology.

This story that intrigued many outsiders ultimately led to a growing interest in Ethereum at a time when not many knew what it was.

The ICO craze and its bad rep on crypto

The ICO craze, which took off in 2017, drove mainstream attention to cryptocurrencies, but many would not have known how instrumental Ethereum was to this hype. It was, however, instrumental in helping Ethereum rise to fame, but it didn’t give it the best reputation when regulators such as the United States Securities and Exchange Commission started to crack down on it in 2018.

This was also the time that The New York Times and the Financial Times began to publish explainer pieces and cover news about the popular fundraising method based on Ethereum, which helped educate and inform the public about it.

It’s clear: The wave of innovation that rose in 2017 challenged and led many journalists who were covering technology or finance to start looking into how the Ethereum blockchain and its smart-contract offering enabled innovative applications and projects to be built on top of it.

Ethereum played a big role in turning blockchain into a buzzword that year, and people began to experiment with putting anything from energy and property to data and our identities on the blockchain. It was at this time that cryptocurrency and blockchain journalists began to emerge at notable financial publications such as Bloomberg, CNBC, Business Insider and the Financial Times.

It was only when SEC filed class-action suits claiming that the “tokens” launched by ICOs on Ethereum were considered securities that the platform built up a negative stigma around it.

Related: The Death of the ICO: Has the US SEC Closed the Global Window on New Tokens?

Ethereum is still behind the scenes of DApps and DeFi

Even as Ethereum powers more technological leaps with the rise of decentralized applications, or DApps, like Cryptokitties and fuels the explosion of decentralized finance, or DeFi — which is close to hitting the $4 billion valuation mark — it still doesn’t seem to get much of the glory in the mainstream press.

Despite this, news stories of people buying virtual kitties for as high as $170,000 helped the mainstream media grasp the concept of nonfungible tokens in an easy to understand and relatable way.

It goes to show that with everything in crypto, assigning a high dollar amount to the value of crypto will capture media attention, which in turn helps raise more awareness of Ether as a cryptocurrency.

Meanwhile, DeFi as the main application of Ethereum is slowly entering the headspace of traditional financial media outlets, even if it’s fueled by skepticism and concern.

At the time of writing, Ether has hit an all-year high in price, with some saying this growth has been fueled by interest in DeFi led by the popularity of yield farming as a way to earn passive income on one’s crypto assets.

What’s ahead?

It’s 2020, and the COVID-19 pandemic has turned the global economy on its head, leading people to seek out alternative forms of finance, with the digital asset industry attracting some interest.

But even with the Ethereum 2.0 upgrade looming and sentiments of another crypto bull run, Ethereum might still have a while to go with the mass adoption of its technology before it stands on its own two feet in the spotlight of mainstream media.

The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Samantha Yap is the founder and CEO of Yap Global, an international public relations firm that works with fintech, blockchain and cryptocurrency companies. Samantha is a fintech, blockchain and cryptocurrency media specialist with past experience working as an international freelance journalist in Jakarta, Melbourne, Kuala Lumpur and Hong Kong. Prior to delving into fintech PR, she worked at Channel NewsAsia in Singapore as a broadcast journalist and current affairs producer.

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Consensus Cell Network Integrates Chainlink’s ETH/USD Price Reference Data in New Prediction …

It focuses on the smart contract features of Ethereum and oracles are the most common solutions to improve the efficiency of them. So, the team has …

Chainlinkreceived a new partnership deal to provide Price Reference Data. The new agreement includes offering ETH/USD Price Reference Data to Consensus Cell Network to power the new prediction market game.

Consensus Cell Network aims to provide a decentralized lending platform later this year. It will grow the partnership and integration with Chainlink to use more Price Reference Data Feeds in the platform.

Using Off-Chain Data to Power Efficient DeFi

Consensus Cell Network focuses on nine business areas including public blockchain technology research, Dapp development, cryptocurrency wallet, Apps for off-chain loyalty points, corporate services, charity, venture capital, sports competition and research centre. Their recent partnership with Chainlink is focused on dApp development. The software development team has published some DeFion Ethereum blockchain using CellETF brand.

The natural business focus in Consensus Cell Network that is DeFi development increases the need for more reliable data sources for assets. It focuses on the smart contractfeatures of Ethereum and oracles are the most common solutions to improve the efficiency of them. So, the team has decided to work with the leading oracle provider, Chainlink.

consensus-chainlink

consensus-chainlink

The first step of Chainlinks’s partnership included launching the price prediction game from Consensus Cell Network. The game is focused on predicting the future price of ETH coin. The two teams look for more integration, especially in the collateralized lending and borrowing operations that Consensus plans to launch in Q4 2020. This platform surely needs a reliable data source to provide the exact price of collaterals and lending assets.

Consensus Cell Network Co-Founder Oswald Gan expressed his excitement about the integration, saying:

“It’s our mission to build innovative dApps that provide unique value to users from around the world. We’re thrilled to be able to greatly expand the capabilities of the Consensus Cell Network through the integration of Chainlink’s secure and reliable oracles, starting first with its price reference data for our newly launched prediction market. Without Chainlink oracles, our go-to-market timeline and rate of innovation for new products would have been substantially delayed, making it a key piece of infrastructure to our current and future success.”


If you found this article interesting, here you can find more Chainlink News

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Ripple News Today – Not Having Smart Contracts Might be a Good Thing for XRPL According to …

Following the creation of Ethereum, many other smart contract platforms were created. XRP, on the other hand, was created primarily to solve financial …
XRPXRPXRP
  • David Schwartz, Ripple’s CTO, Claims Ripple’s Lack of Smart Contracts is a Good Thing for XRPL
  • Schwartz Admits That Ethereum Was Incredibly Successful as a Smart Contract Platform
  • XRP Reaches 3 Month High in Market-wide Rally

Ripple News Today – Bitcoin might be the original blockchain but Ethereum and many other blockchains that were invented after Bitcoin came with more features. One of the key features that sets other blockchains apart from Bitcoin is the smart contract compatibility. Ethereum was the first decentralized computer in the world. Developers can build smart contracts and decentralized applications on the Ethereum blockchain. Following the creation of Ethereum, many other smart contract platforms were created. XRP, on the other hand, was created primarily to solve financial problems in the real world. However, it doesn’t have a smart contract or dApp compatibilities.

Ripple News Today – David Schwartz, Ripple’s CTO, Talks About Smart Contracts and Ripple

Yesterday, the CTO of Ripple, David Schwartz, said that not having smart contracts compatibility isn’t such a bad thing for XRPL. However, he admitted there are some benefits to these smart contract compatibilities. In a series of tweets, David Schwartz explained why XRPL blockchain creators decided not to implement smart contracts on the XRPL ledger. He also talked about the pros and cons of these smart contracts. In his words; “Ethereum was wildly successful”.

XRP (XRP) Price Today – XRP / USD

#NamePrice24H %
3

ripplerippleripple

XRP(XRP)

$0.242

According to Schwartz, adding smart contracts would have made it more difficult for XRPL to serve as a payment network. Apart from this, smart contract platforms are also infected with fluctuating fee rates which will affect the performance of a payment services blockchain. It will also create multiple points for hackers to exploit. In his words;

“We were right that adding smart contracts makes a platform worse for payments. And we were right that it would introduce fee instability, performance issues, and have lots of attack surface.”

These problems listed by Schwartz are the same problems the Ethereum network is currently facing criticism for. Since the XRPL network doesn’t have smart contract compatibility, it doesn’t have these problems. Schwartz admitted that even if there are some disadvantages of smart contracts, Ethereum benefited from adding these smart contracts as well. He said that Ethereum has worked well as a public blockchain with built-in smart contracts. He said that Ethereum is technically successful.

XRP Price Prediction 2020 – Ripple XRP Price Prediction

XRP Price Prediction – XRP Reaches 3 Month High in Market-wide Rally

In other news, XRP has reached a 3-month high thanks to the market-wide bull rally. At the time of writing, the price of the token was $0.245945. It is up by 2.64% against the USD and up by 3.26% against Bitcoin BTC. The trading volume over a 24 hour period is $1,856,196,334 and the market capitalization is $11,030,310,133.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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Ethereum (ETH) Down $1.49 Over Past 4 Hours, Entered Today Up 0.25%; in an Uptrend Over …

Relative to other instruments in the Top Cryptos asset class, Ethereum ranked 4th since the last 4 hour candle in terms of percentage price change.

Ethereum 4 Hour Price Update

Updated July 30, 2020 07:20 AM GMT (03:20 AM EST)

Ethereum is up 0.78% ($2.47) since the last 4 hour candle, marking a reversal from the candle prior — and the end of a 4 four-hour candle negative run. Ethereum outperformed all 5 assets in the Top Cryptos asset class since the last 4 hour candle.

Ethereum Daily Price Recap

318.27 (USD) was the opening price of the day for Ethereum, resulting in the day prior being one in which price moved up 0.25% ($0.8) from the day prior. The price move occurred on volume that was down 20.46% from the day prior, but up 47.08% from the same day the week before. Out of the 5 instruments in the Top Cryptos asset class, Ethereum ended up ranking 3rd for the day in terms of price change relative to the day prior. Here is a daily price chart of Ethereum.

ETH

Ethereum Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 10 days Ethereum’s price has gone up 8 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Ethereum for the past day were:

  • From IslandHunting:

    This month I have:- Bought an S&P 500 option

    – Earned interest at 750%

    – Borrowed money for free

    – Made markets

    – Provided liquidity

    – Traded on margin

    – Made a USD business loan payment

    – Joined a new farming DAO community

    – And much more!All on Ethereum, only on Ethereum

  • From NewsM101:

    The Ethereum/Bitcoin scammers are still hacking channels. If you receive an e-mail ordering you to install any software to record a promo for a video in order to sponsor you, DON’T DO IT.

    It will install a keylogger and therefore make your accounts easy to access.

  • From alexgausman:

    Not enough ppl are talking about how bullish high gas costs are. Consider the baselayer equivalent of P/E, marketcap/fees…Ethereum m/f = 111

    Bitcoin m/f = 998

    Cosmos m/f = 23,000

    Tezos m/f = 41,000Fees are a direct indication of user demand and Eth is dominating.

In terms of news links for Ethereum here’s one to try:

pLTC launches on mainnet!. pLTC has today launched on Ethereum… | by Provable Things | Provable | Jul, 2020 | Medium

LTC is the native cryptocurrency of the Litecoin blockchain….With pLTC, users mint their own tokens by depositing LTC via the custom pTokens DApp….You can easily mint your own pLTC using the custom DApp — dapp.ptokens.io Deposit your tokens by sending LTC to the blockchain address shown.

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Cardano’s Shelley hard fork, five years in the making, goes live

IOHK said in a press release that it expects to reach around 1,000 stake pools; this is based on the number of stake pools opened during its testnet.

After five years of development, Cardano’s next upgrade is finally here.

The network implemented its latest hardfork, Shelley, today. This upgrades the network from its prior iteration, Byron. Shelley’s introduces stake pools and delegations.

Staking on Shelley involves holding large amounts of its native currency, ADA. The benefit to doing so is that there’s a greater chance you could earn yet more ADA in rewards for validating the network. All of this is powered by its Ouroboros protocol, which chooses who gets to add the next block to the Cardano blockchain.

You can also operate something called a stake pool, which lets you stake other users’ coins on their behalf or delegate their coins so that someone else can stake them. IOHK said in a press release that it expects to reach around 1,000 stake pools; this is based on the number of stake pools opened during its testnet. Upon launch, 444 stake pools are operational on Cardano.

The first block for Shelley was validated on a testnet version of the new chain on April 27. A testnet is like a beta version of a blockchain. Usually, testnet blockchains don’t involve real money. But IOHK ran an incentivized testnet for Shelley, meaning that its users were playing for keeps.

Now it’s moved onto mainnet, onward: “It’s a monumental achievement, but this doesn’t mean we’ll be standing still, and we’re looking forward to the delivery of the Voltaire and Goguen phases of the Cardano roadmap, which will see robust governance arrangements and smart contracts functionality put in place this year,” said Aparna Jue, IOHK’s product director, in a statement.

Charles Hoskinson, the CEO of IOHK, added: “This time next year we could see hundreds of assets and decentralized applications running on Cardano.”

Disclaimer

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

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