Ethereum

Ethereum Artificial Intelligence Machine Learning

July 27, 2019 0 Steven Anderson By Steven Anderson

ETH/USD went up from $219.50 to $222 this Saturday.  The SMA 50 4-hour price chart broke past the resistance.  The MACD is showing decreased market momentum.

Microsoft might democratize artificial Intelligence and Machine Learning.  Microsoft is using the Ethereum Blockchain in an attempt to do this.  Thereby, the otherwise centralized and costly systems will become accessible to everyone.

When smart contracts are involved, there is a great deal of impact on how data is managed.  Ethereum blockchain has thousands of decentralized nodes and therefore ensures that the code is always available.  This also eliminates issues with downtime.

Justin Harris when talking about the spirit of democratizing AI stated, “One in which people will be able to easily and cost-effectively run machine learning models with the technology they already have, such as browsers and apps on their phones and other devices.”

Harris is very optimistic about the future of blockchain technology and its role in artificial intelligence.

The Ethereum Ecosystem is Booming.  Completely decentralized market place, Ethereum Mixers, and a lot of products which are based on the principle of Mutually Assured Destruction are making it to the market.

Ethereum Name Service has been gaining a lot of traction.  The ENS names are mainly used for Ethereum Transactions, which function like an e-mail address for your wallets.  The ENS is patterned based on the Domain Name System (DNS); however, it is technically different in structure, making the name saving more convenient.

The largest of the Ethereum transaction over the past three months has come on record, and it is seen at one hundred and two million dollars ($102,877,808) and has been transferred in terms of ETH. This is not a usual thing for ETH as most of the large transactions happen with Bitcoin.  The ETH is to be launched in the first quarter of 2020, and social media might likely get busy with this topic.

The green zone movement for the ETH is ending, and the technical indicators are beginning to switch over to the bearish side.  It is opined that if the head and shoulders pattern on the chart should continue, the price might find support at $155 range.

In cases the selling should continue, the price range will fall down to as low as the $160 support range. For as long as the price action continues to be above $100, the trend is likely to be bullish. 

Needless, to say ETH and Bitcoin are rivals and when it comes to the idea of what makes ETH better than Bitcoin, Brian Kelly rightly stated, “Investors who disregard Altcoins do so at their own peril.” 

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