Ethereum prices have risen by more than 13% in the last two days, after weeks of negative price pressure. The price increase was partly due to an influx of trading volumes exceeding $ 2 billion. Most of the trade volume came from the USD, even if the fiat couplings saw higher volumes due to the price rebound.
The price has seen a sustained recession due to large-scale ETH sales purchased by companies during the ICO stages. ETH has been traded for these early currencies and is needed to continue business functions, forcing some projects to sell ETH for fiat when prices sink.
Estimates are that the sell-off was 160,000 ETH; but buyers could use this opportunity to buy back Ethereum. However, the uptick could be short-lived. Analysts are declining compared to last-day activities and an ETH price drops to a true support point around $ 183.
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Yet, Ethereum and its project owners have announced greater focus on technical production and the application of the smart contracts platform. For ETH to see the prices it had at the beginning of this year, it will probably have to solve some urgent technical problems.
Latest developments on Ethereum
Prysmatic Labs, a group of blockchain experts, revealed the latest update on their open source sharing client for update & # 39; Casper & # 39; of Ethereum 2.0. The engineers were able to handle some inefficiencies of cross-shard communication. In fact, the team faced the canonical "Hotel and Train Problem."
Raul Jordan, one of the developers of Prysmatic Labs, commented during an interview :
"[Hotel and train problem] which is that if you book a train and book a hotel, you want both to pass or no, you do not want to end up stuck with the hotel, but not your train or the passing train and not your hotel. "
The developer explains that there is a possibility for the system to break down. This would happen if two transactions A and B did not pass together. If one goes and no, the whole system could collapse.
One of the solutions proposed for this problem was the "shard and shark contract". Vitalik Buterin himself explained how this proposal works.
However, the team found that the solution proposed by Vitalik Buterin was imperfect to adapt to latencies. Buterin also said that to get a single cross-sharing communication transaction, data and status should be separated. There is the possibility of experiencing a block reorganization.
The team behind Prysmatic Labs explained that they are at the crossroads of all these important considerations.
The team also commented on GitHub pull requests, merged codes and other issues. They also mentioned how they worked out a solution for the Beacon nodes for bootstrap from a genesis state.
The beacon nodes were developed by Prysmatic Lab as random sidechains. They memorize the hashes to the main blocks in the chain, but in their blocks. The sidechain will implement a full & # 39; Proof of Stake. & # 39;
The team also stated that a Direct Acyclic Graph (DAG) will store information about incoming blocks and their status.
"Nishant Das of our team then we took the initiative to improve the system and instead of storing all the incoming blocks, transformed into persistent memory and keep only a simple portion of memory blocks in memory that we still have process for the most recent slot number and then apply the fork choice rule easily, "reads the report.
In the future, the team will work on the implementation of an interaction of peer-to-peer messages between the validators. In this way, they would be able to exchange information with each other. Beyond that, they will work on the Genesis beacon chain without using a simulator.
Carlos is an international relations analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other major cryptocurrency sites; with over 2,000 published articles.