The Ethereum Report #8

adamgdevadamgdev Member Posts: 25

Price Action
The overall cryptocurrency market cap is up 2.95% in a one-week period starting on February 28 and ending on March 7 at around 3:45 PM UTC.

The top 5 gainers in the top 100 were as follows:

Ravencoin (RVN) — 121.72%

Maximine Coin (MXM) — 73.22%

Aurora (AOA) — 71.18%

Digitex Futures (DGTX) — 64.50%

Huobi Token (HT) — 48.41%

The top 5 cryptocurrencies to lose market cap while remaining in the top 100 were as follows:

Komodo (KMD) —9.87%

Electroneum (ETN) — 9.56%

ODEM (ODEM) — 9.55%

Pundi X (NPXS) — 8.78%

Theta Token (THETA) — 8.40%

Product Launches
Enjin is working together with Unity to release Blockchain SDK, which will be available on March 14. This will enable app and game developers to be able to more easily create and integrate ERC-1155 tokens. This is a significant partnership considering that Unity’s cross-platform game engine is used to create half of the world’s video games.

ConsenSys’ PegaSys recently released Pantheon 1.0 on Ethereum. This is an enterprise-optimized solution that allows users to create private blockchain networks with new customer support and training offerings. Pantheon 1.0 is the first Ethereum blockchain client built from the ground up for enterprises in addition to the public mainnet.

Development News
ProgPoW Vote: On March 1, Ethereum core developers held a meeting to discuss a new hard fork called ProgPoW (Programmatic Proof-of-Work). According to Etherchain, 57.8% of miners have already voted on whether to implement this upgrade. All that voted were in favor. Although Ethereum is eventually moving to Proof-of-Stake in the long-term, the move to adopt ProgPoW indicates the overall sentiment for Ethereum to improve ASIC resistance in the short-term to ensure that the blockchain remains decentralized.

ProgPoW aims to improve Ethereum’s ASIC resistance.
JPMorgan Testing Privacy Tech: Back in February, JPMorgan announced its plans to create a Stablecoin on the Ethereum blockchain. Now, news sources are reporting that the bank is currently testing zero-knowledge proofs (zk-SNARKs), a common type of privacy technology used with projects such as Zcash. One solution that JP Morgan is reportedly looking at is the AZTEC Protocol, which is already running on the Ethereum mainnet. AZTEC Protocol differs from traditional zk-SNARKs methods because it uses range proofs, which allow for cheaper transactional costs.
ETHParis is taking place from March 8–10. The judges and speakers list includes Martin Lundfall from Dapphub, Vlad Zamfir from Ethereum, Ashley Tyson from Web3, and many more. A full list can be found here.
Asia Crypto Week is happening March 11–17 in Hong Kong. Ethereum’s Vtalik Buterin will serve as the keynote speaker at the inaugural Ethereum Asia SuperMeetup on March 13. Confirmed speakers also include Jehan Chu, Co-Founder and Managing Partner at Kenetic Capital; Shaun Djie, Co-founder and COO of Digix; Kazuki Obata of Smart Contract Capital; Brian Cheong of TTC Protocol; Chih-Cheng Liang of Ethereum Research, James Zaki of Ethereum Sydney, Veronica Andrino of Ethereum Boracay, and Teguh Kurniawan Harmanda of TokoCrypto.

Ethereum Asia SuperMeetup
Developer Spotlight: Eric Conner
This week we highlight the work of Eric Conner, a developer who founded EthHub. Conner works at EthHub to provide research and resources for people to learn about Ethereum. On March 4, he published a blog post emphasizing the need for a new Ethereum Improvement Proposal (EIP).

Titled “Fixing the Ethereum Fee Market (EIP-1559)”, Conner’s blog post details a few solutions on how to improve gas fees, bringing more attention to the original proposal that Vitalik Buterin formalized in November 2018. This EIP would allow people to save up to 90% of transaction costs, automate the fee bidding system, and more additional benefits for end users.

Eric Conner
DApp of the Week: Kickback

The Kickback dApp recently rose 34 spots up the State of the DApps rankings. Looking at stats from March 6, users in a 24-hour time span increased 185.71%. 7-day ETH volume increased 100.73%. Development activity is also up by 170.31% over the past 30 days.

Kickback aims to help event organizers receive more accurate attendance estimates prior to events. This is made possible by event organizers requiring attendees to RSVP by paying Ethereum (ETH) in advance. Those that do attend are refunded after the event check-in. Any no-shows lose their ETH, which can then be split amongst the attendees. Kickback uses this registration model to provide an improvement over traditional event management platforms like Meetup.


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