Telegram is on a tight schedule to release its blockchain but when that happens, it will be compatible with the most popular smart contract blockchain, Ethereum. Ethereum News today features this development, Ethereum price analysis and ETH price predictions.
Telegram Blockchain to Support Ethereum Codes – Ethereum News Today – ETH News Now
Social media and instant messaging network Telegram will include Ethereum compatibility according to a news report by cryptocurrency news outlet Coindesk. Citing representative of a tech startup building tools for the network, Coindesk reported that a tool known as Solidity compiler will allow ethereum developers to run their decentralized apps on Telegram’s blockchain.
The CEO of TON Labs Alexander Filatov explained that the compiler, though a challenging project, will encourage ethereum users to work with the Telegram Open Network also. “That was probably the most difficult thing we built. It will allow the advanced Ethereum community to pull everything they wrote for ethereum into TON,” he said adding that the compiler entered the testing phase last month.
TON Release Gets Closer; Less Time to Test Codes – Ethereum News Today – ETH News Now
Filatov, however, hinted at a shortage of time to fully test and fix vulnerabilities in the complier and, as a matter of fact, the TON network. “We have very little time between the node release and the mainnet launch to test, identify and fix possible bugs and vulnerabilities,” he told Coindesk.
When the Telegram team conducted its record token sale last year, it promised to launch the TON mainnet by the end of October 2019. This deadline is barely a month away and the team is working hard to deliver on its promises. A missed deadline could see the company refund its investors.
Ethereum Price Today – ETH Price Analysis – ETH to USD
At the time of writing, Ethereum is trading at $169 to the USD as its current woes continue. As concerns about its blockchain scalability go on, the second-largest cryptocurrency by market cap has failed to register any positivity. ETH is down by over 10 percent since the last seven days.
While compatibility with the TON, when it launches, provides options for the ethereum community, it is unclear if this will positively ETH markets.
Ethereum Price Prediction 2019
Eth price prediction at this moment is at best a mixed bag. It is obvious that the bears are dominating the market at the present but some analysts dare to call a positive turnaround soon.
As initially reported by NewsBTC, Crypto market analyst Jonny Moe is one of the few making a positive case for ethereum. He explained that Ethereum is trending apex of Wedge in the “Falling Wedge pattern”. He notes that this pattern if traced will lead to an ETH price breakout. He warned, however, that ETH price may breakdown instead of breaking out citing a rising bitcoin dominance. Max Keiser also warned of an ETH collapse predicting a $90 bottom for ETH in its latest downturn.
Information from coinmarketcap.com and newsbtc.com were used in this report.
Riccardo Lopp is a writer specializing in Crypto, ethereum and whole blockchain ecosystem. His background is in economics and statistics.