Vlad Zamfir Will Work On Ethereum Competitor With CasperLabs

Vlad Zamfir, an Ethereum Foundation member, is now working with CasperLabs in a major capacity. According to a press release, Zamfir will act as Lead Consensus Protocol Architect, and his Casper CBC protocol will be used to launch a new blockchain that will compete directly with Ethereum.

What Is Casper?

Casper is a proof-of-stake mechanism, a type of consensus protocol that allows coinholders to collectively determine blockchain consensus and validity. It provides an alternative to proof-of-work mining, which is currently used on many blockchains, including bitcoin and Ethereum—although Ethereum will implement Casper eventually.

However, Zamfir has been in competition with Ethereum creator Vitalik Buterin, and each is developing their own ideal version of Casper. While Buterin has been working on Casper FFG, Zamfir has been creating Casper CBC, which uses penalties and bonds to provide resistance against attacks. Naturally, CBC will be used in Zamfir’s new blockchain.

Zamfir states that he is “excited” about CasperLabs’ interest in creating a Casper CBC-based blockchain and that he hopes this will “put pressure” on Ethereum to adopt the system. He also says that the new blockchain will be scalable and highly efficient and that it will use WebAssembly rather than a brand-new programming language.

Positive About Proof-of-Stake

Zamfir is also positive about proof-of-stake consensus in general. According to Zamfir, proof-of-stake consensus can be used to build blockchains that are “much more usable and secure” than they are now. Indeed, many blockchains have already started to adopt proof-of-stake consensus, including Cardano, OmiseGo, and Qtum.

Zamfir additionally claims that he is not sure if bitcoin and Ethereum are capable of upgrading to proof-of-stake. Although bitcoin has no plans to use the system, this claim is a fairly harsh condemnation of Ethereum, as Casper is actually one of Ethereum 2.0’s most anticipated features.

Zamfir Won’t Leave Ethereum

The announcement also clarifies some earlier misconceptions. Previous rumors suggested that Zamfir intended to leave the Ethereum Foundation entirely, though those rumors were quickly refuted by Zamfir himself. CasperLabs’ announcement makes it clear that Zamfir is collaborating with the company, not working with it exclusively.

However, it would be easy to believe otherwise in light of the intense competition between Zamfir and Ethereum. Zamfir has previously expressed his dissatisfaction with Ethereum, calling it not safe and not scalable in March 2017. Zamfir and CasperLabs will surely pull no punches when it comes to diverging from Ethereum’s plans.

Published at Mon, 25 Feb 2019 18:32:24 +0000

December 9, 2017

NEO BEARS ARE FADING OUT AS NEM PRICE MORE THAN TRIPLE AFTER WECHAT INTEGRATION TECHNICAL ANALYSIS December 9, 2017

NEO bears are fading out which is encouraging for bulls who are now aiming at $45 after bouncing from the double bottoms and this week’s low. Other than NEO, NEM bears were obliterated after announcement of NEM-WeChat integration which would make it more accessible to chine. Otherwise, all other cryptocurrencies like DASH, IOTA and Monero are trending higher.

Let’s look at the charts:

NEM BULLS UP 150% AND CLEAR 61.8% FIBONACCI EXTENSION LEVEL

alt coin NEM Bulls chart technical analysis — *XEMUSD Weekly Chart for December 9, 2017*

After Poloniex dump, prices were cheap enough for whales to buy in at a discount. Anyhow, thanks to WeChat integration, NEM bulls are surging and aiming at the moon.

This is awesome news and as such NEM bulls are up 150% and market capitalization is past $4B making this cryptocurrency the cheapest in the top 10.

As we can see in the weekly chart, the first level of our Fibonacci extension at $0.59 has been hit and now, August’s highs of $0.36 is now our immediate support. NEM bulls should be looking for any dip as another buy opportunity.

DASH BULLS SURGE AND CLOSE ABOVE $670 SIGNALLING BULLS

alt coin DASH 4HR chart technical analysis — *DASHUSD 4HR Chart for December 9, 2017*

As per our trade recommendation, DASH bulls ended up leading the way and closing above our immediate resistance line at $670.

Even after a couple of testing support, price continued to make higher highs closing above the 20 period MA.

Therefore, at current prices and a stochastics buy signal in place, DASH is realigning itself and moving as per the weekly chart’s bullish trend.

In light of this, any break and close above this resistance line means we enter long. Better entry prices will definitely be found if there is a retest of support-previous resistance-after break out.

IOTA BULLS AIM AT $5.65

alt coin IOTA 4HR chart technical analysis — *IOTUSD 4HR Chart for December 9, 2017*

With any buy entry, the bulls get stronger and as it is, it is likely to surge past December 6 highs.

As we can see in the chart, after IOTA bulls picked up from our $3.2 support. To support this, price action has been strong and moving along the 20 period MA. There is also a stochastics buy signal in place.

We are certain that bulls are in charge just by looking at the diverging %k and %d of the stochastics which are almost parallel meaning many IOTA buyers are in the trade.

For now, short term traders should eye $5.65.

MONERO BULLS CLOSE IN ON $300

alt coin Monero chart technical analysis — *XMRUSD 4HR Chart for December 9, 2017*

As the chart shows, Monero bulls are in charge. Because of price action alignment in the higher time frame this bull trend might continue past $300.

First off, after that rebound from the 20 period MA, prices are moving higher but with strong bull momentum.

Moreover, stochastic signals are almost parallel and in sync with the weekly trend which is also bullish.

For now, any retest and bullish confirmation of the 20 period MA will represent a buy opportunity. Bull short term target is December 6 highs at around $300.

NEO BEARS ARE FADING OUT AS BULLS AIM AT $45

alt coin NEO BEARS Technical analysis — *NEOUSD 4HR Chart for December 9, 2017*

Even though NEO bears are fading out, bull movement is still low. NEO price action is inching higher and in fact it is trending above $34.

Additionally, judging from price action NEO bulls are likely to expand in coming days. Price action is bouncing from our double bottoms towards $45 which is around the upper limit of the W-formation.

Otherwise, buyers are in charge and we shall be taking long positions with stop losses tucked below $34.

All charts courtesy of Trading View

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