On Mondays, we make a digest of the crypto-related events of the previous week and discuss the latest news. Not to mention the rise in the price of Bitcoin, a lot has happened over the past seven days! Don’t forget to leave a like under an interesting article like this one, and share news that were not included in our selection in the comments!
Bitcoin has broken its price record
Over the past week, Bitcoin has updated its price maximum more than once! It all started on Tuesday, November 3, when the rate of the first cryptocurrency rose to $ 14,000 for the first time since 2019. A day later, the first cryptocurrency delighted the holders with another upswing – the price of the coin jumped to $ 16,000! Now the BTC has rolled back to a small correction, and is trading at the $15 486 level. As usually, altcoins also followed suit and grew in price – for instance, Ethereum gained more than 15.5% in price, and is now trading at the $452 level.
This is good news for all members of the FORSAGE community, because the rise in the value of ETH means an increase in the profit each of them receives! Also keep in mind that all transactions on the platform are carried out strictly between crypto wallets, and if the cryptocurrency rate grows, then the user's income in USD also grows!
The developers have revealed the launch date of the Ethereum 2.0 genesis block
It seems that the creators of the ETH cryptocurrency are seriously taking up the launch of Ethereum 2.0! Last week, they officially confirmed the launch of the deposit contract and announced the date of the creation of the genesis block. The launch is scheduled for December 1, 2020 at 12:00 GMT. This contract will link the existing ETH network to the Ethereum 2.0 network.
We've already talked about the FORSAGE community looking forward to scaling the Ethereum network. It was the problems with transactions and ETH commissions that were one of the reasons for the urgent launch of the platform version on the TRON blockchain. We don't want a recurrence of such a situation, and therefore we are glad to hear any news and activities for the development of ETH network.
The TRON network was attacked ...
... but users hardly noticed it! The head of the project, Justin Sun, spoke about the large-scale attack on the TRON network, which suspended the production of blocks. According to him, a hacker attacked TRON during the protocol update to version 4.1 on November 2 at 22:14 GMT. Sun said that the TRON community responded immediately to the incident, finding and fixing the problem, working with super representatives to update the nodes as well. Block production on the network resumed after 00:29 GMT, and TRON returned to normal at 1:40 GMT.
This is a great example of the decentralized system that FORSAGE is striving for! We are now also launching the process of handing over community governance to users, which will be the next step towards fully decentralizing the project!