• Bitcoin steadily rising to a daily high so far at USD 7,465
  • US supreme audit agency posts blockchain jobs
  • ETH makes historic biggest single day gain with 20% increase in 24 hours

 

Bitcoin is raring to go it seems and we continue reporting on its steady ascent to break new monthly highs so far as Bitcoin now trades around USD 7,350 (CoinDesk) at 9:36 UTC, hours after Asian trading took it to a daily high so far at USD 7,465 — which, incidentally, is the point at which BitcoinNews.com Technical Analysis predicts is where decisions have to be made by the market.

Will we push on from there after a successful test? Or will we fall back and regroup? Time will tell, as always, but we look for yet more signs that the market is recovering, and we find it in this item of news from US politics that finds the United States Government Accountability Office’s (GAO) Innovation Lab posting job vacancies in late March with job descriptions that say they will develop “use case prototypes” for blockchain technologies.

GAO is the highest auditing institution of the US government; part of its role is to evaluate and investigate on behalf of Congress, and it does seem like they are now investigating DLT prorotype applications.

The vancancies, namely for an ‘Interdisciplinary Computer Engineer/Computer Scientist’ and an ‘Interdisciplinary Assistant Director, Computer Scientist/Engineer’ will be focusing on looking up blockchain as part of “emerging technologies” and will be monitored by GAO’s Science, Technology Assessment, and Analytics (STAA) Team’s Innovation Lab. Salaries start at $107,336 annual to $170,800 annual, meaning to say a monthly package could be worth over $14,200. Based in Washington, they job takers will help to “Identify, develop, test, and evaluate use case prototypes for emerging technologies in areas such as digital ledger (blockchain)…”

The job ad adds that a job applicant:

“Demonstrates expert level understanding of cloud-based Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), and Software-as-a-Service (SaaS) capabilities. The incumbent will also direct implementations and configurations of tools and other computational resources within established information security boundaries.”

GAO launched the STAA Team just recently in late January — the first new office created by GAO in 20 years. Earlier last year, it had published a brochure claiming that DLT “could fundamentally change the way government and industry conduct business”, citing improvements in transparency, labor costs, and data quality, among others.

Ethereum, meanwhile, is getting bigger and stronger, with market gains underlining the confidence returning to the Dapp network.

Its native currency, Ether (ETH) has just recorded over 20% gains with yesterday’s close, making it the biggest daily gain in over 20 days as investors and traders finally believe that ETH 2.0 is coming around. Even today, ETH is 16% up over the last 24 hours, after shrugging off some losses in early China trading.

The 2.0 upgrade, dubbed Serenity in most circles, essentially tackles the scalability issues plaguing Ethereum, moving to a different mining algorithm called proof-of-stake (PoS). Although the move has been slowly going on since 2015, it has faced difficulties in the migration, mainly because of the intense technical expertise required to do so. But the CEO of Ethereum security auditing firm OpenZeppelin, Damien Brener, thinks that times have changed. He says:

“From a developer standpoint, Ethereum is the most popular blockchain where most of the smart contract and Dapp activity occurs. People are realizing that Ethereum’s network effects especially around community and composability (ETH smart contracts interacting with each other) are stronger than they thought, which might lead to increased trust in the platform and thus higher prices.”

Even though Ethereum’s development cycle has entered its fifth year, the fact that none of the challenger blockchains have usurped Ethereum means it has proven its lasting power, says Jehan Chu, co-founder and managing partner at blockchain investment firm Kenetic. He explains:

“Ethereum continues to be the veteran number 2 coin in crypto, and its recent price surge demonstrates traders’ long-term belief in its market position. Price aside, the real story is how Ethereum continues to march towards Eth 2.0 and resolving legitimate criticisms around network speed and scalability. In today’s environment, the name of the game is survival, and no protocol and developer community has survived at this high level better than Ethereum.”

 

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