The chief strategy officer at digital asset manager CoinShares Meltem Demirors talked about Bitcoin and the cryptocurrency market’s struggles today on CNBC. According to Demirors, the volatile market is similar to the early days of the Internet when the narrative was hard to grasp. “New technologies that shift the paradigm take a long time to really understand.”
Ethereum creator Vitalik Buterin is proposing to adapt a consensus algorithm that can increase the network’s fault tolerance to 99%.
Meanwhile, Ethereum hit its September 2017 price of around $285 today. As Bloomberg reports, the fall comes amid the big market drop and speculation that ICOs are cashing out of the Ether they raised from investors in order to cover expenses.
Tron has released a new progress report detailing advancements over the last week, including progress on the platform’s virtual machine, token migrations and super representative elections.
Stellar (XLM) and EOS
Stellar has passed EOS in market cap amid the market downturn, but for how long remains to be seen. Stellar is now the fifth biggest cryptocurrency, with a market cap of $3.96 billion, compared to EOS at $3.92 billion at time of publishing.
Ripple and XRP
Alexa is apparently brushing up on Ripple and XRP. A new post on Twitter shows what happens when you ask Alexa about the third cryptocurrency by market cap.
— Ripple Man (@KingRippleXRP) August 13, 2018