ethereum | Cape Crypto https://capecrypto.com Buy Bitcoin South Africa Fri, 13 Aug 2021 12:56:46 +0000 en-ZA hourly 1 https://wordpress.org/?v=6.0.9 https://capecrypto.com/wp-content/uploads/2020/10/favicon-150x150.png ethereum | Cape Crypto https://capecrypto.com 32 32 Eth’s London Upgrade and the US Government make it a big week for the Cryptocurrency Industry https://capecrypto.com/cryptocurrency/eths-london-upgrade-and-the-us-government-make-it-a-big-week-for-the-cryptocurrency-industry/ Fri, 13 Aug 2021 12:52:40 +0000 https://capecrypto.com/?p=317 ETHEREUM LONDON UPGRADE The second week of August was a good one for the crypto markets. Social media was immediately full of people calling it ‘officially a bull market’, although we think it’s still a bit too soon to say that. But after a long, frustrating period of inaction, Bitcoin has managed to firmly rise…

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ETHEREUM LONDON UPGRADE

Ethereum Logo

The second week of August was a good one for the crypto markets. Social media was immediately full of people calling it ‘officially a bull market’, although we think it’s still a bit too soon to say that.

But after a long, frustrating period of inaction, Bitcoin has managed to firmly rise above the $45,000 price tag for most of the week (even clipping above R 700,000 for a while). That’s a solid 13% gain over the week before, and there are hopes and expectations of more to come. 

Nearly all coins had a good week but Ethereum in particular is showing its true class and pedigree. Not only did the value of Ether climb by 16.75% at the time of writing, but it executed a vital hard fork on the Ethereum protocol that experts are speaking of as a ‘game-changer’. 

Author: Jeremy Daniel

A hard fork is an unchangeable permanent modification on the blockchain, which is a backward-incompatible upgrade, meaning that miners have to download the London Hard Fork if they want to continue using the Ethereum network. 

CNBC explains that ‘If you think of Ethereum like a highway, London is adding a few lanes to tamp down traffic and is standardising toll prices.’ 

The takeaway from the London upgrade for casual viewers is that it is fixed to the blockchain that involves destroying or “burning” ether coins. Many assumed that the name London must be associated with the famous bridge of the same name that ‘is burning down’. In fact, all the hard fork names come from the cities where the Ethereum Devcon international developer’s conference has most recently been held. Next up will be Shanghai hardfork. . 

Nevertheless, the burning of ether is a significant change and is meant to provide a deflationary mechanism that will provide price stability. 

From this point on the transaction fees will be determined automatically according to supply and demand trends, in the hope that this will lessen the volatility in the current system.

“What will happen is that the base fee will be burned. Since this fee is paid in “ETH, more ETH will be burned as transactions occur. It is good news for ETH holders as this fee burn could lead to ETH inflation. But this doesn’t mean ETH will go deflationary. It is just a new theoretically deflationary mechanism, something Ethereum has lacked till date,” says Hitesh Malviya, the founder of itsblockchain.com.


SENATE HEARINGS ON CRYPTO

In the first real acknowledgement from US authorities that cryptocurrencies are not just a fad that will disappear sometime soon, the Senate held a fiery date over the first set of legislative ideas that seek to ensure a structure for government taxation of crypto assets in the United States. 

It was part of the larger bi-partisan Infrastructure bill that recently passed the senate, although that particular crypto amendment was blocked for obscure Senate procedural reasons that involved $50 billion in unrelated military spending someone else was trying to add to the bill. 

But it was the first real attempt at defining what is set to be a long relationship between the crypto community and the United States government. 

The New York Times brilliant columnist Ezra Klein wrote a long, thought-provoking article on the events of the past week and he had some insightful comments around what the future of cryptocurrency is starting to look like. He believes that crypto has moved beyond currency and into the kind of infrastructure that could potentially be the next digital economy: Web 3.0, as some are calling it. 

“Once you have crypto networks up and running, with currencies pulling in users, you can build all kinds of things on top of them. So the second phase of crypto has followed from the first: Now that there really is digital money, where anyone can verify the transactions, shouldn’t there be truly digital financial services, built around contracts anyone can write, enforced by code rather than banks or law?”, Klein writes. 

This would be a game changer for content creators, who have been failed time and again by an internet that rewards access to entertainment without rewarding the creator. It’s been simply too easy to lift, copy and enjoy original work without paying for it. WEB 3.0 changes that. 

“If the original internet lets you easily copy information, the next internet will let you easily trade ownership of digital goods. Crypto lets you make digital goods scarce, which increases their value; it lets you prove ownership, which allows you to buy and sell them; and it makes digital identities verifiable, as that’s merely information you own. Together, they unlock the potential for a true economy for digital goods, where creators actually get rewarded for what they make.”

Just one more reminder that we are all still very early to the crypto space and that this could be one of the biggest investment opportunities of the future for those who could see what was coming.

Author: Jeremy Daniel

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BREAKING NEWS: CAPE CRYPTO TURNS ON ETHEREUM https://capecrypto.com/cryptocurrency/breaking-news-cape-crypto-turns-on-ethereum/ Tue, 03 Aug 2021 12:26:15 +0000 https://capecrypto.com/?p=309 Cape Crypto is thrilled to announce that you are now able to buy Ethereum directly on our platform. Many of our clients have been asking for this, and we’re delighted to have completed the work so that you can now build an Ethereum portfolio alongside your Bitcoin investment.  This is the logical next step in…

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Ethereum Logo

Cape Crypto is thrilled to announce that you are now able to buy Ethereum directly on our platform. Many of our clients have been asking for this, and we’re delighted to have completed the work so that you can now build an Ethereum portfolio alongside your Bitcoin investment. 


This is the logical next step in our grand journey to bring crypto to the masses in the fastest, easiest way possible. 


Chances are, if you’re interested in the cryptocurrency space, you’ve heard of Ethereum. But perhaps you’re not exactly sure what it is.

Fear not, we’ve put a short introduction together to help you understand what you’re buying and why it’s such a great investment for your crypto portfolio. 

Ethereum is a decentralized, open-source blockchain with smart contract functionality. 

You could think of it as a massive, decentralised computer that has the ability to run apps (known as dapps). Dapps are simply software programs that are built to run on the Ethereum blockchain, just like how the apps that you have on your phone are built to run on your phone. Anyone can build a dapp, and have it added to the Ethereum blockchain enabling anyone in the world to interact with it.

Ether is the cryptocurrency of the Ethereum blockchain. 

When you buy “Ethereum” on an exchange, you are actually buying “Ether” – Ethereum is the name of the blockchain itself (and not its cryptocurrency) – but due to convenience and ease of explanation, the two definitions have largely become interchangeable. When you buy on Cape Crypto – we simply refer to it as Ethereum. 

Ether is the “fuel” used to run the commands of the dapps on the Ethereum platform – every command that is run on the blockchain needs a certain amount of fuel (Ether) in order to be completed.

You might think of Ether in a similar way to petrol or diesel. If you needed to run your generator for two hours during load shedding you would need maybe 2L of diesel. In the same way if you wanted to interact with a certain dapp on the Ethereum blockchain (the diesel generator), you would need to purchase that requisite amount of Ether (diesel) beforehand to be able to use it. Ether is the fuel used to run dapps.

Now of course just like fuel has a market price that goes up and down, so does Ether. This price is what leads people to buy and hold, speculating that the price will increase over time as we have seen thus far:

It was initially released on 30th July 2015 at the equivalent price of R40 per Ether. The price has since ranged between R20 000 and R40 000 per Ether over the last year, although it did reach a high of R55 000 in April. Unbelievable stuff.

(There are a few more concepts to Ethereum that we will talk about in upcoming articles such as Gas Price and Gas Limits)

After Bitcoin, Ether is the largest cryptocurrency by market capitalization and Ethereum is the most actively used blockchain around the world (at the time of writing).

Ether and Bitcoin share many similarities: 

  • Each is a digital currency traded via online exchanges and stored in various types of cryptocurrency wallets. 
  • Both are decentralized tokens, meaning that they are not issued or regulated by a central bank or any other authority. 
  • Both make use of the distributed ledger technology known as blockchain

Clearly what sets it apart is how flexible and effective it is for creating utility tokens. For instance DEFI (decentralised finance) dapps have taken the world by storm and unleashed a whole new paradigm to finance and trustless lending. The explosive growth of NFTs is also all driven and built on Ethereum.  

The future success of crypto and blockchains is heavily reliant on Ethereum and it will surely be a worthwhile addition to your growing crypto portfolio.

Sign up with Cape Crypto today and get a piece of the action. Prices are good and the upside over time is sky high!

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