Market Update 5.07.19 – BTC Developer Proposes 2 Solutions for a Taproot Soft Fork

| Publish date: 05/07/2019
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BTC Developer Proposes 2 Solutions for a Taproot Soft Fork

Pieter Wuille, the BTC (Bitcoin) developer, sent a message to the mailing list of bitcoin developers called bitcoin-dev on May 6, proposing 2 different solutions for a Taproot soft fork. Taproot is a solution that is focused on combining advantages from MAST (the Merkelized Abstract Syntax Tree) and the Schnorr signature scheme to reduce the amount of information that is revealed after a BTC transaction takes place.

In the memo he sent out to the BTC developer community, Wuille states that by using Taproot, all outputs and cooperative spends of BTC will be indistinguishable from one another.

Read more about this story here.

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BTC Miners to Fidelity: BTC Mining Runs on Clean Energy

At the Mining Summit Friday hosted by the Fidelity Center for Applied Technology, BTC (Bitcoin) miners presented a case that they were actually drivers for the adoption of clean energy, rather than how their critics had projected them as being bad for the ecology.

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Most of the presentations were made by the guests and in that time, cryptocurrency miners as well as others from the industry sought to prove that the popular perception of about mining that it consumed huge amounts of electricity and was an environmental threat was in reality not true.

Read the details of the story here.

Moscow Student Council Planning on Using Blockchain for Elections

According to local news reports, Moscow authorities are planning to pilot a new blockchain-based electronic voting system for the university student elections that are due to be held in late June of this year. The plan is to establish methods that may be employed during the mayoral elections that are to be held after that.

This project, according to the reports, is going to be supported by the Moscow DIT (Department of Information Technology) as well as the Mosgorizbirkom (the Moscow City Election Commission). According to the deputy head of the DIT, Artem Kostyrko, the technical specs of the pilot will be sent to the election commission for approval in the middle of this month.

Read more about this story here.

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Total Market Cap: May 07

The crypto market has risen again as its capitalization has gone up by almost $10 billion in the last 24 hours to $188.27 billion. Trading volumes have also shot up to $55.90 billion at this time.

Bitcoin Price Analysis: May 07

In the last one day, the price of BTC has gone up by 3.95% to $5936.30. Capitalization for the crypto has gone up to $104.99 billion and its trading volumes are at $17.31 billion.

Ethereum Price Analysis: May 07

Ethereum’s also seen a positive upward movement in the last 24 hours, with its token price shooting up by 10.15% to trade at $177.60. Capitalization for ETH is at $18.81 billion and trading volumes are now $8.75 billion.

State of the Top 10 Cryptocurrencies: May 07

Stellar (down 0.94%), Binance Coin (down 0.88%) and Tether (down 0.15%) are the three digital assets in the top ten list that are currently trading in the red. Ethereum’s price has skyrocketed by 10.15% in the last 24 hours.

  • Bitcoin’s trading at $5936.30, jumping 3.95%. The asset’s worth in the market is now $104.99 billion.
  • Ethereum’s trading at $177.60, jumping 10.15%. The asset’s worth in the market is now $18.81 billion.
  • Ripple’s trading at $0.304888, jumping 2.04%. The asset’s worth in the market is now $12.83 billion.
  • Bitcoin Cash’s trading at $294.36, jumping 3.06%. The asset’s worth in the market is now $5.23 billion.
  • Litecoin’s trading at $76.80, jumping 4.98%. The asset’s worth in the market is now $4.73 billion.
  • EOS’s trading at $4.96, jumping 4.31%. The asset’s worth in the market is now $4.68 billion.
  • Binance Coin’s trading at $22.06, down 0.88%. The asset’s worth in the market is now $3.11 billion.
  • Tether’s trading at $0.998547, down 0.15%. The asset’s worth in the market is now $2.77 billion.
  • Stellar’s trading at $0.098100, down 0.94%. The asset’s worth in the market is now $1.87 billion.
  • Cardano’s trading at $0.067150, jumping 4.21%. The asset’s worth in the market is now $1.74 billion.
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