Crypto Market Recovers $7 Billion as Augur and EOS grow

During the last 24 hours the cryptocurrency market has rebounded by $7 billion, inspite the oppose with bitcoin, ethereum, and other major cryptos
17 May 2018   942

Today, on May 17, it was declared by the Augur team that after years of extension, the smart contracts of Augur will be live on the Ethereum mainnet on July 9, 2018. The official announcement caused the market to react, making the price of REP (the native token of Augur) to rise by about 10 percent. 

Actually most effecient tokens in early May including EOS, 0x (ZRX), and WanChain (WAN), fell by large margins during the last 3 days. After that, the 10 percent gain of REP is quite noteworthy. Augur was established in 2014 by Joey Krug as a decentralized prediction platform. Krug displayed that the original Augur smart contracts on Ethereum were written before solidity, the most widely used Ethereum programming language, was invented. 

He underlined that Augur is undoubtedly the complex project on the Ethereum network and is about 10 times more complicated than MakerDAO, which he noted is the second most complex project on Ethereum. Krug affirmed that developing a resolve to decide consensus on real-world events, which Augur users can place bets on, has been as difficult as solving proof-of-stake consensus algorithm due to scalability flaws.

Solving consensus on real world events was initially a research problem, we thought some previous literature had solved it, but it turns out it really hadn’t and had severe scalability and inventive flaws the more we audited it. It’s imo about as difficult as solving PoS. Augur’s about 10x more complex than the second most complicated ethereum project, makerdao, which has about 10 contracts vs augur’s 100 [complexity isn’t a good thing, and the augur team has tried to make it as simple as possible, it’s just a really complicated endeavors.
Joey Krug
Augur Core Developer 

The 10 percent increase in the price of REP has shown the condition of the market which has been on a continuous decline since early May.

SEC to Start VanEck-SolidX BTC-ETF Consideration

Starting today, the 45-day countdown to the SEC initial decision was launched
20 February 2019   105

For the first time since August of last year, two proposals on the creation of a Bitcoin-ETF are under consideration by the US Securities and Exchange Commission (SEC).

The application of VanEck and SolidX, issued in cooperation with the Cboe BZX exchange, as expected, was included in the Federal Register issue this Wednesday, with which the 45-day countdown to the SEC initial decision was launched. The application of Bitwise Asset Management and NYSE Arca was published last week.

I … hope that our investment in regulatory and market education, hard work and commitment will be honored when the time comes.
 

Gabor Gurbacs

Director of digital asset strategy, VanEck

The head of Bitwise’s research department, Matt Hogan, believes that not only firms that have submitted bids to create Bitcoin-ETFs are looking for approvals, but and the entire “extremely fast-growing” crypto industry.

A year ago there was maybe one qualified crypto custodian … and now there are half-a-dozen, and that number will go up from here. A little more than year ago, we didn’t have futures. A year ago we didn’t have nearly as many firms making markets. A few months ago, you didn’t have folks like Fidelity announced in the space. It’s evolving really, really quickly.
 

Matt Hougan

Global head of research, Bitwise

 As reported, ultimately, however, a bitcoin ETF approval will depend on how companies approach their proposals.