Study: Ethereum is More Popular than Bitcoin in India

Jana, Indian free internet provider has reported that according to its latest research, Ethereum is more popular than Bitcoin in this country
05 April 2018   775

Quartz reported that Ethereum kept a 34.4% share of cryptocurrency search opposite 29.9% for Bitcoin when analyzing seeking requests between October 2017 and February 2018. By the end of February, alongside the tightening regulation in India, the interest in Ethereum had relatively risen twice than the one in Bitcoin.

Cryptocurrencies have been greatly demanded in India over the past year, sometimes Bitcoin was trading at a 30% bonus. The reason can be watched back to 2016, when the Reserve Bank of India removed high-value bills from circulation in a move that shocked the nation. It accentuated the value of a currency that isn’t controlled by a central official – the principal that determined the creation of Bitcoin more than 10 years ago.

Nevertheless, following previews from other central banks including the UK and the US, India’s central bank has been using regulatory impact on its local cryptocurrency exchanges and national banks. Ultimately, it has been declared that trading volumes on India’s popular bitcoin trading platforms have collapsed by 90%.

This decrease in trading volumes could illustrate that traders in India are moving away from centralized trading platforms. The might of cryptocurrencies is that they can be exchanged peer to peer. According CryptoCompare`s analysis, two-thirds of Indian Rupee transactions now take place on LocalBitcoins – a person to person bitcoin trading site that doesn’t rely on a centralized exchange in order to convert into fiat.

Growing interest in Ethereum reflects a general trend relatively to diversifying crypto-assets, it is the currency of choice for investing in Initial Coin Offerings. In a rigid market, traders have been searching for these crypto-startups in order to find returns. According to co-founder and CEO of Unocoin Sathvik Vishwanath, an Indian bitcoin exchange and as reported by Quartz, “The market is very, very dull,” as regulation and tax is weighing on people’s minds.

Probably the interest in Ethereum revealed by Jana simply reflects Sathvik’s spirits. The market has relived a difficult few months, Ethereum’s promise of decentralized apps and its ERC-20 based-ICOs offer the Indian market a more positive future in a bearish market.

MyEtherWallet to Roll Out MEW Connect

The application provides a secure login to user accounts
19 September 2018   129

Developers of the popular wallet MyEtherWallet presented the final version of the mobile application MEW Connect.

The application provides a secure login to user accounts. With MEW Connect, users do not need to enter a private key to open a wallet. Instead of using a private key, the introduction of which may pose a security risk, the user reads a special QR code.

Kosala Hemachandra, MyEtherWallet founder in talk with TechCrunch said that he he hopes beta users will comb through the code and help find issues with the app before its wider release.

The app is available for both iOs and Android. MyEtherWallet.com service is visited daily by about 600 thousand users.

Recall, the beta version of MEW Connect was introduced in July.