Market Update 11.12.18 – IBM: Science Can Benefit from Blockchain

| Publish date: 11/12/2018

Market News

IBM: Science Can Benefit from Blockchain

According to the details given in a new patent filing by the American technology giant IBM, the entire process of conducting scientific research could benefit from Blockchain technology.

The patent was filed by IBM’s Watson Research Center and details a scenario of dynamic collaboration, where researchers would be able to track their findings across institutional borders. The filing stated that Blockchain tech could provide scientific research a “tamper-proof log” of their data. This is yet another example of how IBM has been championing non-Finance related use cases of the technology.

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Private Blockchains May Fit with EU Privacy Rules

According to a new study conducted by the Queen Mary University of London and the University of Cambridge, private blockchains could already be compatible with the new European Union privacy laws.

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The new privacy laws in the EU which came into effect from May this year, called the GDPR (General Data Privacy Regulation), regulates the manner in which personal data is stored for all individuals within the region. According to the GDPR, all entities that control any form of data will need to respect their users’ rights on storing and transferring their private data.

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Swarm: Ethereum’s Unstoppable Storage

According to Daniel Nagy, it was thanks to a 7 year battle about hosting a file-sharing node that led to the creation of Swarm, an eagerly awaited storage layer for the Ethereum network. Nagy is the lead developer on the Swarm project and works on systems architecture as well as cryptography that preserves privacy on the network.

With Swarm, Nagy is focused on how he can make decentralized storage strong enough so that there no legal issues such as the one he faced with his file-sharing node. The Swarm initiative has been active from the early days of the Ethereum platform and has finally reached the public alpha stage.

Read the whole story here.

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Total Market Cap: Nov 12

The start of the week sees the crypto market’s capitalization at $211.19 billion, with a current volume of trade at $12.86 billion.

Bitcoin Price Analysis: Nov 12

Bitcoin has started the new trading week at $6378.76, down 0.38% since yesterday. The number one crypto’s market valuation is now $110.81 billion and it is trading at volumes of $4.11 billion.

Ethereum Price Analysis: Nov 12

Since Sunday, the price of Ethereum fell 0.86% to its current trading price of $210.11. The market capitalization of the altcoin is now $21.67 billion and trading volumes are $1.49 billion.

State of the Top 10 Cryptocurrencies: Nov 12

Stellar and Monero, up 0.91% and 1.42% respectively, are the two altcoins from the top ten list to be in the green in crypto trading right now.  All the other 8 in the top ten cryptocurrency list are trading down. The biggest losses are being faced by Bitcoin Cash, which has dropped 6.64%, followed by Litecoin, which is down 2.07% and Cardano, which is down 1.84%.

  • Bitcoin’s price is $6378.76, falling 0.38%. The valuation of the token is now $110.81 billion.
  • Ethereum’s price is $210.11, falling 0.86%. The valuation of the token is now $21.67 billion.
  • Ripple’s price is $0.502484, falling 0.61%. The valuation of the token is now $20.20 billion.
  • Bitcoin Cash’s price is $512.09, falling 6.64%. The valuation of the token is now $8.93 billion.
  • Stellar’s price is $0.271406, gaining 0.91%. The valuation of the token is now $5.13 billion.
  • EOS’s price is $5.37, falling 0.39%. The valuation of the token is now $4.86 billion.
  • Litecoin’s price is $50.80, falling 2.07%. The valuation of the token is now $3 billion.
  • Cardano’s price is $0.075015, falling 1.84%. The valuation of the token is now $1.94 billion.
  • Monero’s price is $105.33, gaining 1.42%. The valuation of the token is now $1.74 billion.
  • Tether’s price is $0.991140, falling 0.27%. The valuation of the token is now $1.69 billion.

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