Vermont Turns to Home-Grown Blockchain Company to Track Hemp With Ethereum
Vermont state regulators will begin recording the production of hemp – a low-THC cannabis strain popular in textiles – on the ethereum mainnet this year.
Ethereum is a software system which is part of a decentralised system meaning it is not controlled by any single entity. Ethereum is different to Bitcoin because it expands on its technologies to create a completely new network including an internet browser, coding language and payment system – "in short, Ethereum is a public, open-source, Blockchain based distributed software platform that allows developers to build and deploy decentralised applications". The platform’s currency is called Ether. The platform was founded in 2014 by Vitalik Buterin and a team of other developers. The currency is just one aspect/component of Ethereum yet can be mined by individuals more easily than Bitcoin.Ethereum 101
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As ether’s price rose to seven-month highs on Wednesday, the aggregate daily volume in ether futures exceeded $4.5 billion for the first time since June 27, 2019.
Demand for DeFi lending services built on ethereum shows a pattern of inverse relationship to the price of ETH. When ether prices are falling, the amount of ETH locked in DeFi tends to rise. Most recent data indicate the relationship operates the other way, too.
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Ether will face more volatility than bitcoin over the next six months, according to how options have been priced in recent weeks.
Ethereum’s next system-wide upgrade, Eth 2.0, won’t launch in Q2 2020 as expected, but researchers remain confident the initial network parameters will deploy in 2020. Anything less would be considered a “failure,” they said.