Market Update 10.18.18 – Research Says Developers Able To Alter Cryptoassets
Market News
Research Says Developers Able To Alter Cryptoassets
As far as cryptocurrency tracking resource CryptoCompare is concerned, its recent study has revealed that 85 percent of crypto assets enable development teams to alter their platforms. To create the report, it simply reviewed hundreds of crypto and blockchain projects. At the same, there are experts detecting a tendency towards centralization set by utility tokens that are running on controlled servers.
The research suggests that around 85 percent of developers have the ability to change the protocol on their projects at any moment at their own discretion. The yearly taxonomy of digital assets also revealed that 55 percent of existing crypto assets are actually centralized, while 30 percent more are semi-decentralized. In other words, there is only 16% of all existing crypto assets are considered to be a fully decentralized ecosystem.
Read the full report here.
New Crypto White Paper Bears A Familiar Name
There is a new privacy paper that surfaced in the so-called “bitcoin wizards” chat channel. Surprisingly, it bears a very familiar name – “Tom Elvis Jedusor.” The latter is basically the French version of Tom Riddle, who is better-known as Harry Potter’s archenemy named Lord Voldemort.
As strange as it may sound, this is not the first time this happened. A little more than two years ago, a protocol improving two of blockchain’s biggest problems. These are none other than privacy and scalability. As for the protocol, it was aptly titled “MimbleWimble” and was released by a cryptographer going by the pseudonym.
Even ever-fickle active Bitcoin developers suggested that it was definitely a good proposal, one that would go on to spark a flurry of innovation and activity. Blockchain projects Grin and Beam are now putting its ambitious mathematical ideas to the test, hoping to finish a working blockchain that puts its ideas into practice for the first time soon.
Read the full report here.
Amex Accused Of Sponsoring Anti-Crypto Tweets
Tons of Reddit users have alleged that American Express (Amex) has sponsored crypto-skeptical content on Twitter. The tweet in question was reportedly circulating through Bloomberg’s Twitter network called “TicToc.” It was even reposted as a screenshot to a Redditor user’s thread titled “Anti-crypto propaganda… promoted by American Express,” which has had 4,100 upvotes and drawn 437 comments as of press time.
As for press time, the tweet appears to have the hallmarks of a promoted post, and is recorded as having 42,000 views at the time the screenshot was taken. The controversial tweet also contains a multimedia article, which refers to “estimates” from Bloomberg’s energy industry research team, Bloomberg NEF.
Read the full report here.
Total Market Cap: October 18
The volume of trade in the crypto market sat at $11.99 billion. The market’s capitalization, on the other hand, reached $211.29 billion.
Bitcoin Price Analysis: October 18
In the past 24 hours, Bitcoin fell 0.59% to trade at $6,542.56. The leading cryptocurrency’s trade volume trickled to $4.02 billion, while its market slid to $113.37 billion.
Ethereum Price Analysis: October 18
Ethereum’s price fell 1.18% to trade at $207.37. As for the altcoin’s trading volume, it reached $1.4 billion; whereas its market capitalization hit $21.28 billion.
State of the Top 10 Cryptocurrencies: October 18
In the past 24 hours, most prices went down. Meanwhile, Monero continues to dethrone TRON at the 10th spot.
- Bitcoin’s market price fell 0.59% to $6,542.56, and its value in the market is $113.37 billion.
- Ethereum’s market price fell 1.18% to $207.37, and its value in the market is $21.28 billion.
- XRP’s market price fell 0.55% to $0.470569, and its value in the market is $18.82 billion.
- Bitcoin Cash’s market price fell 0.98% to $451.07, and its value in the market is $7.85 billion.
- EOS’ market price fell 0.45% to $5.41, and its value in the market is $4.91 billion.
- Stellar’s market price jumped 3.98% to $0.241008 and its value in the market is $4.55 billion.
- Litecoin’s market price fell 0.56% to $53.53, and its value in the market is $3.15 billion.
- Tether market price fell 0.18% to $0.971789, and its value in the market is $2.14 billion.
- Cardano market price jumped 1.51% to $0.077393, and its value in the market is $2 billion.
- Monero dethroned TRON at the 10th spot, but its market price fell 0.70% to $105.44, and its value in the market is $1.74 billion.