Month: October 2020

Have you ever thought about what exactly goes in the mind of a blockchain developer’? With the advent and advancement of technology each day, digital power is potent enough to transform everything in life. It has the capability to do almost everything out there.

Now comes the next question. Have you ever thought about what exactly happens when you spend time on social networking sites like Facebook, Instagram, Twitter, etc., the entire day? No. we are not talking about the physical repercussions today. These monopolies don’t really produce any sort of technology but clearly extract the value from us as much as possible.

And with that fact, many people basically recognize blockchain technology to disrupt these private monopolies, which is undoubtedly not the case. There has been no specific blockchain yet that hasn’t been able to surpass the existing one.

And even if it did, it Wouldn’t really have the capability to support the kind of incoming growth and adoption as a whole. Unfortunately, there is a whole large list of things that are missing right now and might change if the foundation is changed as per the requirements. Let’s dive into a bit more details regarding this and how to scale vertically.

What is vertical Scaling?

Vertical Scaling is basically how you manage the growth of a single bare node in a network. Blockchains are specified databases that never really discard the information. They are just added gradually. And as a result,this takes up a lot of space and memory, which can make the machine much inefficient.

Now to combat this, node operators usually rely on various hardware that is pretty expensive. They are usually the basic RAM or NVMe. This is what actually pushes the network participation beyond the grip of the ordinary people!

What about sharding?

Now comes one of the important features of a network. The Ethereum full node of 500 GB is still non-existent.  This truly complicated mechanism really needs to be added in there so that its blockchain can be broken and divided into bits and pieces. The computational resources can then be spent enabling the ‘shards’ which we were talking about till now. The shard will communicate with one another, and the computations will be done without any hassle!

Now the problem arises when you can’t use the aspect of sharding for horizontal Scaling. This is because blockchains are the main portions, and what determines the efficiency of the system is basically the parts inside the machine, which is quite known to us.

Blockchains are usually not the best with node resource management, and thus they are the best option for vertical Scaling but certainly not for the horizontal ones!

Conclusion

The discussion could be pretty long since the topic of blockchain is pretty vast, and to understand it better, it needs time and patience. But rest assured, the basics have been clear because this is quite a common topic and are really of great importance if you are in this arena.

Coronavirus has disrupted a running economy and the fear of loss and life has led to haphazard conditions and fears among investors, businessmen and multinational companies who invest a lot in bitcoins and cryptocurrencies. Bitcoin has been facing tremendous selling pressure due to the fear rising from the corona pandemic affecting globally. The stocks fall and that is leading to an unbalanced condition of the financial sector.

Due to these recent changes and the panic created by the coronavirus disease, there have been a few changes in the stock market of the European economy which is also affecting the US economy directly and in turn globally. Some of the major eye-catching incidents are:

The consequences of coronavirus fear

Prominent European indices like Germany as DAX, France as CAC, and the U.K. as FTSE fell more than 3%, due to this sudden rise of the pressure in selling out bitcoins and assets. There has been a steep decline of the European stocks and the U.S future stocks along with a rise in the worth of the US dollar which is way more than the top cryptocurrency market cap.

Bitcoin is currently trading in the “red zone” which is very alarming. It was near $10,650, down by 2.9% in a day. They have already failed to cross the level of $11,000 earlier. The data and the figures are very alarming for the economy which is actually having a large impact over the global economy.

One important reason for the falling of the equities is the fear of the recent increase of the corona cases” in the European nations which are hitting directly not in their favour. This surging incident is forcing equity holders to sell their portions and in return, Europe is about to hit the surface once again and that is alarming.

The no of corona cases is doubling every single day and if this continues, it will touch around 50,000 cases/day by mid-October. This data is received from British government officials. This certain crisis has changed its way of working again and some European countries like Greece and Denmark have already imposed a lockdown again. If this situation continues, ye European countries will be bound to impose lockdown all over again, resulting in a jolted economy.

This is creating new damage to the European economy in a whole new way in which the intern is risking the whole global economy by unbalancing the American economy.

According to the data sources from Glassnode, recently, 784 BTC which is worth approx $8 million was transferred from miner wallets to exchange wallets. This is quite higher than the
“30-day average” of the daily-outflow of 265 BTC. This movement of the coins to exchanges is done specifically to liquidate the holdings of the miners and investors. There is a possibility of a breakdown, a bearish-pattern is found on the hourly-chart. This might expose the “100-day average support” near $10,400. The falling value of the bitcoin economy has affected the dash for the US dollar which is a global reserve currency.