The main cryptocurrency is experiencing the most stable period again, at least since October 2018. During the last 11 days, since January 11, Bitcoin has been traded in the narrowest price range between $3.500-3.700. Is this the calm before the storm?
At the same time, the average daily volume of Bitcoin transactions increased by 63% over the past nine months. But the share of SegWit operations remains at the same level as half a year ago - 40% (the protocol SegWit provides faster transactions in the blockchain).
And the Bank for International Settlements state that Bitcoin would be able to get rid of its current and future problems only after departing from Proof-of-Work (PoW) consensus algorithm.
The Constantinople update is delayed until February 27 because of the vulnerability detected. Developers stated that the hardfork would be activated at block number 7,280,000. Why are there so many talks about it and what should we expect? After Constantinople:
the rewards for miners will decrease from 3 to 2 ETHs
the efficiency and speed of the blockchain will increase
the network will consume less power
the need to use an internal currency of the blockchain - Gas - will be reduced
the transition to the Proof-of-Stake algorithm will be postponed for 18 months
The British payment company MercuryFX has reported the successful results of xRapid testing on XRP token: $4,500 were transferred from the United Kingdom to Mexico via RippleNet. It saved about $100 and 30 hours that might have previously been spent on transferring funds.
Ripple is a strong SWIFT competitor: RippleNet reportedly has over 200 business customers around the world.