Buterin Announces $1 mln Subsidies for Blockchain Research as Ether Surges to $900

Buterin Announces $1 mln Subsidies for Blockchain Research as Ether Surges to $900

Since the last month of spring 2017, ethereum’s price had been varying from $200 to $400 per unit. However, within the previous months “the little brother” of bitcoin has demonstrated a steady growth, breaking a new record on January 2 at around 2 AM UTC, being traded at $913.10.

Interestingly, the same day Ethereum Foundation announced that it is ready to grant up to $1 million per research in order to solve scalability problem in the blockchain technology, launching two research programs.

Our top trading bots

Ether’s Triumph

Within the past month, ethereum has displayed a 100%-increase. Just on December 1 one, ETH was worth about $440, when at the moment of writing its price is at $889 per unit. At the same time, ethereum’s total market capitalization skyrocketed to $87.8 billion on January 3 from around $72 billion which was the rate for just January 1. It is indeed extraordinary as a year ago the ether’s total market cap was $698 million. That’s a 12,000% increase! It is also notable that on January 1, 2017, ethereum cost only $8.

Even though ether is no longer the second most significant digital coin (recently the fast-forwarding Ripple usurped ether’s place), it still has a lot of potentials. According to the Cointelegraph, ethereum has recently grown against the background that its increasing trading volumes, particularly in Asia.

Currently, the whole cryptocurrency market is living through the successful growth. Within the past 24 hours, the total crypto market cap has grown from $585.6 billion to $700.5 billion.

Buterin’s Plans

Vitalik Buterin, a co-founder of the Ethereum blockchain-based platform, in his blog on January 2 revealed two programs, which his uncommercial organization is ready to sponsor in order to explore the possible ways of solving blockchain scalability issue.

Buterin suggested two solutions to the problem: layer-two protocols and sharding. If the first one is an attitude by which operations are supposed to be taken off the main blockchain to be processed, then the second one is a process which suggests only a little number of nods on the blockchain for verifying a transaction.

Those, who are ready to research one of these programs, will receive a subsidy of $50,000-$1 million. The Ethereum Foundation is looking forward to meeting students, developers and firms which would like to launch the protocols on ether’s principal net after the research is completed.

It seems that Buterin wants to have a hand in the most revolutionizing changes in the blockchain technology, so if he succeeds, ether may get all the chances to skyrocket in the nearby future.

Chart Source: coinmarketcap.com

Ethereum options data suggests the battle for $4K ETH is at least a week away
For the past 40 days, Ether (ETH) has trended modestly upward, respecting a narrow channel most of the time. It enjoyed a brief rally toward $4,000 in the...
Testing interest in NFTs vs. physical collectibles with Apple founder’s 50-year-old job application
A crypto entrepreneur is planning to gauge whether interest in a collectible from deceased Apple co-founder and CEO Steve Jobs is directed more towards...
How smart regulation can improve the future of blockchain
With extreme positions on both sides, some would have us believe that decentralized technology and regulation are mutually exclusive. As pervasive as that...
Price analysis 6/16: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, UNI, LTC, BCH
Bitcoin’s price (BTC) turned down from just above the $41,000 mark on June 15, suggesting that traders are halting their purchases at higher levels. Traders...
Bullish reversal? Traders debate whether $37K BTC price is a trend reversal
The cryptocurrency market flashed bullish on June 9 as Bitcoin (BTC) price reversed course and rallied 20% to $37,500. For the past few weeks, analysts...
Ontario securities regulator takes action against Kucoin
The Ontario Securities Commission, or OSC, is taking stern action against two companies associated with KuCoin for allegedly failing to comply with local...
Tether discloses full reserve breakdown for the first time
Tether Holdings Limited, the company behind the popular USDT stablecoin, released a full breakdown of its reserve composition on Thursday, offering more...
Hong Kong to expand pilots for cross-border use of digital yuan
The Digital Currency Institute of the People’s Bank of China and the Hong Kong Monetary Authority are quickly moving forward with their joint testing of...
Smells like NFT spirit? Look Labs launches first digital fragrance
Look Labs, a contemporary beauty and lifestyle studio founded in Berlin, Germany, has launched the first digital fragrance encoded into a non-fungible token,...
Covalent raises $2M to build a decentralized blockchain data provider
A number of notable investors and projects have provided $2 million to Covalent, a project building a decentralized blockchain data provider.Hashed Ventures...
Quick Look At All Crypto News And Events For November 2020
Were you too engrossed in trading left and right that you’d completely spaced on getting your monthly update of the latest events in the crypto world?...
The Developers Of The MonteCrypto Game Will Give One Bitcoin To The First Winner
The first player to play the new video game MonteCrypto: The Bitcoin Enigma will receive one bitcoin as a reward. The game is scheduled for release on...
Metropolitan Bank Won't Work With Crypto-investors
The company "Metropolitan Bank Holding Corp", which is popular among cryptocurrency companies, stopped performing international transfers related to cryptocurrencies....
Facebook Messenger Users Targeted by Cryptocurrency Viral Miner
Experts from the Trend Micro Company recorded a new activity during which malicious actors have been distributing the Monero cryptocurrency miner called...
Why Bitcoin is Growing so Phenomenally? $110,000 Soon?
Why Bitcoin is Growing so Phenomenally? $110,000 Soon? Bitcoin continues to amaze participants of the cryptocurrency market and the investment community...