Charles Hoskinson says, Cryptocurrency market will see Crash and then Consolidation

Nishanth Shetty

Nishanth Shetty

January 9, 2018 9:21 am

Charles Hoskinson says, Cryptocurrency market will see Crash and then Consolidation | Coindelite News
64441 Total Views

Cryptocurrency News

Ethereum co-founder and chief executive Charles Hoskinson said the cryptocurrency market will grow after bitcoin alternatives that lack substances has failed.

Charles Hoskinson told to CNBC that:

“My personal opinion is that we’re going to see a consolidation after a crash.”

Hoskinson now runs blockchain research firm IOHK, but was previously in charge of Ethereum, which develops the underlying technology for the cryptocurrency Ether (also known as Ethereum).

A number of altcoins — including Cardano, a cryptocurrency managed by Hoskinson’s company — have surged largely in recent weeks as investors look beyond the most leading cryptocurrency bitcoin. Ripple’s XRP, for instance, temporarily overtook ether as the second-largest cryptocurrency in December.

 Blockchain, the technology which is backed up with cryptocurrencies, records all transactions of a digital currency on a separated network instead of one centralized server.
Hoskinson increased concern about “unrealistic” cryptocurrency projects entering the place.

He said:

“What’s going to occur is a lot of these ventures that don’t have strong fundamentals, don’t have the good tech or just unrealistic projects, they will eventually run into some major wall they can’t quite overcome. They will fracture up and you will see a lot of them are certain to fail.”

But the chief included that most of these cryptocurrency projects might not fail anytime soon as they have enough funding behind them to support themselves.

Hoskinson added:

“The problem is a lot of them have a lot of money, It’s really hard to fail when your burn rate is $5 million or $10 million a year, and you have $1 billion of capital.”

No Comments
Ripple and XRP: Key Differences Explained

  These days a huge number of companies and organizations, banks are adopting the Ripple technologies. Somehow, XRP has been knocked between the price dip, regulations, etc. Have you ever compared Ripple and XRP and saw the difference?. I think most of us haven’t. So, here you could understand the difference …

GPU Prices Finally Gain Stability After an Year-Long Surge

GPU prices drop after being rising for almost a year. Since May 2017, there was a steep increase in the price of dedicated graphics cards. Surprisingly, this was not due to the rise in the number of game releases, but this was due to the general public’s interest in cryptocurrency. An …

American Express Believes Blockchain Could Help Prove Payment System

  Credit card giant American Express is on a quest for better means of proving when transactions happen and a new patent filing hints that they might be looking at blockchain as a part of a possible solution. In a patent application issued by the U.S. Patent and Trademark Office …

UK Mosque has Raised 14,000 GBP as the Cryptocurrency Donation

  In May, UK’s Shacklewell Lane Mosque had announced that it would start accepting cryptocurrency as Sadaqah (donations). The Mosque has collected a huge 13,983 GBP (Great British Pounds) in cryptocurrency during Ramadan. Turkish runs the mosque in Hackney, in East London. The mosque had planned to start accepting cryptocurrency at …

Dark Web’s World Cup Gambling Ring Seized by Chinese Police

Chinese officials have shut down an online gambling ring on Thursday. The bets made on the matches used cryptocurrencies that included Bitcoin, Litecoin, and Ethereum. Over $1.5 billion had been accumulated through this scheme. Rather than betting, this scam allowed recruiters to profit off other members. The official statement by The …

Ripple wants to Beat Bitcoin in India | Coindelite News
1
Ripple Wants to Beat Bitcoin in India

  Ripple (XRP), the most bank-targetted blockchain protocol, Ripple (XRP) will be taking over fifty percent of India’s finance sector by preparing payments with low fees and capable systems. Ripple Vice President Asheesh Birla recently became a part of the Scaling and Digital Disruption in Fintech conference and said, Ripple …

shares