Zcash, a decentralized and open-source cryptocurrency that provides strong privacy protections, appears to be some steps closer to implementing a hard fork for the fact that it has completed its Powers of Tau ceremony which featured community members, developers, and enthusiasts who joined in versioning lines of codes to enhance the coin’s privacy protocol.
The ceremony is an affirmation that “toxic waste” which is harmful to the machines used in generating data has been completely averted. The idea is aimed at preventing malicious attack on the protocol or in some instances protecting fake tokens.
The Powers of Tau Ceremony was by Sean Bowe, a member of the Zcash Foundation, saying, “All of the participants did a wonderful job, and I’m very happy with the diversity and openness of the ceremony. Many members of the crypto and cryptocurrency communities participated or played witness to what took place.”
The ceremony, based on what is available on the , witnessed around 90 teams or individuals, with all of them providing distinct ways to generate the cryptographic toxic waste. This move signals that the second of the two hard forks scheduled for 2018 is around the corner.
The service is seen as the world’s largest multi-party computation ceremony. It was kick-started in November 11, 2017, by the , and intentionally made public to dispel any concern that either the Foundation or the Zcash Company are controlling the process for Zcash upgrade.
Although, some enthusiasts are preparing for , the first hard fork, the Powers of Tau is, however directed towards Sapling hard fork.
Targeted to be fully in action by June, Overwinter is the first “software-updates-required” network upgrade for Zcash, Zcash foundation has said. It is fashioned to “strengthen the protocol for future network upgrades, paving the way for the Zcash Sapling network upgrade later this year,” the foundation reiterated.
“Overwinter includes versioning, replay protection for network upgrades, performance improvements for transparent transactions, a new feature of transaction expiry, and more.”
After understanding that its needs outside support, Zcash declared: “We have begun reaching out to third-party developers for their feedback and to offer any support needed for a smooth Overwinter activation. The list what is necessary (if anything) from third-parties to get ready for Overwinter.”
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For virtual currency investors, the more important question is whether this round of currency price rises is a restart of the bull market or a bear market trap.
Yesterday evening, bitcoin experienced a soaring price in just one hour. The price rose from the violence of about 6,800 U.S. dollars to a maximum of 8,100 U.S. dollars. It rose by nearly 20% during the day. Under the leadership of bitcoin, other virtual currencies also ushered in a strong rebound, with single currency gains even exceeding 50%. Faced with the collective warming of the virtual currency market, many investors shouted that “the bull market is back.”
According to data from the CoinMarketCap website, bitcoin’s market value increased by nearly 20 billion U.S. dollars within a day, and the entire virtual currency market also experienced general market growth. There was no “seeking” effect. According to the daily transaction volume of bitcoin exceeding 9 billion U.S. dollars, there should be billions of incremental funds entering the market yesterday, instead of stock funds.
In fact, in the time of the booming of bitcoin, Bitfinex, a digital currency trading platform, also recorded a number of large purchases. With the increase in buying Bitcoins, many shorts were forced to close their positions, further expanding the market’s upward trend. For this phenomenon, Nick Kirk, data director of Cypher Capital, also expressed his approval. At the same time, he also believes that this sharp rebound is more likely to be the response to the release of early regulatory pressures.
Pantera Capital Management, one of the world’s largest digital currency hedge funds, said bitcoin has bottomed out. The 6,500 U.S. dollar is the low point for bitcoin’s bear market. bitcoin will be above this price for most of this year and may even exceed the record high of 20,000 U.S. dollars last year.
Fundstrat founder Tom Lee also expressed confidence in bitcoin. He believes that the current bitcoin P/B ratio and other indicators are almost the same as the end of 2014 bear market, and has formed an important technical correction. Based on this, he stated that the value of bitcoin may rise more than three times this year and rose to 25,000 U.S. dollars at the end of this year.
Historical data shows that bitcoin has indeed risen in the second quarter of the calendar year. In the second quarter of 2011, bitcoin rose as much as 1964%, 36.25% in 2012… 61.98% in 2016 and 131% in 2017.
Of course, bitcoin OTC volume also shows signs of market recovery. Since March, bitcoin trading volumes in Canada, Europe, Vietnam, Mexico, and Vietnam have risen and reached record highs.
With the successive admission of major financial institutions such as hedge fund giant Soros and top financial group Rockefeller family, the virtual money market’s financial size will be further expanded.
However, it is worth noting that although bitcoin currently has a strong rise, it is still in a downtrend channel and has not yet been effectively broken. It remains to be seen whether the virtual currency market has actually reversed. Investors should always be vigilant and pay attention to position management.
More importantly, the world’s major bitcoin markets, including the United States, have sought to establish regulatory frameworks. The uncertainty of regulation will inevitably have a greater impact on the short-term development of the virtual currency market. In the long run, an orderly, healthy market can go even further.
Author: Marko Vidrih
Hello everybody! The last few weeks have been full of exciting events for IPSX, many of which have not been visible to those outside of our core team. As the project continues to grow and evolve, we are actively working on ways to improve communications and the overall visibility of IPSX.
For now, I would like to give you a short summary of what has happened after the token sale, as well as provide a bit of a look forward into what our next steps will be:
The token sale ended on 5th March, and we immediately focused our efforts on delivering a working demo of the IPSX Platform.
We also had some business travels where we met some great people and very interesting possible new partnerships appeared along the way.
On 19th March we attended BII Summit Dubai where Sergiu made a presentation of the IPSX project. It was also a great opportunity for us to network with like-minded people and projects within the blockchain space.
On 26th March we officially unlocked the IPSX tokens were listed on the Qryptos exchange.
On 27–28th March me, Xavier and Sergiu attended Crypto Summit in Zurich were again we took full advantage of a great networking session and met some fantastic blockchain specialists, enthusiasts, business developers and financial industry leaders. We even had the chance to arrang everything from an administrative perspective for the IPSX project, and held our first Board of Directors meeting after the token sale where we outlined the next steps.
On 28th March our team members: Daniel, Cristina and Lelia visited our friends from Ocean Protocol in Berlin and they attended the meet-up organised by the great team that is behind the Ocean Protocol project.
That same week we announced our partnership with Data Center Luxembourg and also we had our second listing on Bibox exchange.
At the beginning of April the relationship with Vaughan Emery, CEO of Atonomi project reached the next level by announcing a potential partnership between IPSX and Atonomi and opening the IoT segment for IPSX.
The next major steps moving forward will be as follows:
We will soon announce a new solid partner that will help us on marketing efforts.We are actively working on our mobile clients, with the iOS version of the demo to be released shortly. The Android client should follow also in the following weeks. We are setting up the first API that will allow fast integration with different clients.Also we are working on a data center application that will allow data centers to easily share their unused IP addresses. The partnership with Data Center Luxembourg is very important in this step as it allows us to test real use cases in real environments.The team is increasing, we are currently having 24 inhouse active team members and we are analyzing a way of presenting the whole team to the community. Details will be revealed shortly.We are in process of preparing an incentive and reward programme for our active community members and also long-term token holders. Some technical implementations need to be finalised and we will make the announcement when everything is ready.We plan to improve the IPSX website, update the team section with all the team members and add a detailed and updated roadmap. However, we don’t have a specific timeline for this.We are working on a partnership to make the purchase of IPSX tokens accessible to everyone and hopefully in a short time we will be able to provide a solution for potential clients or investors to acquire IPSX tokens directly using FIAT. This will be a great step forward for massive adoption of IPSX as utility token.
As always please feel free to reach us anytime if you have any questions, feedback or simply just to say hi! We hope you found this update helpful.
All the best!
For more information and media contact, please use:
IPSX website:
IPSX Whitepaper:
Telegram Channel:
Contact email: contact@ip.sx
Company info: Geralka Project AG, Bahnhofstrasse 4, 6052, Hergiswil NW, Switzerland. Registration number CHE-103.114.066
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![Bitcoin [btc]: on-chain transactions near ath as miners profit from rising transaction fees](https://ohiobitcoin.com/storage/2019/05/Bitcoin-1.png "Bitcoin [btc]: on-chain transactions near ath as miners profit from rising transaction fees")