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Indexica sees objective reasons for the growth of Bitcoin, the Stellar network failed to process transactions for two hours. Chainalysis examines the concentration of investments in ethereum.
Analytical platform Indexica conducted a study of reasons for the growth Bitcoin price. According to experts of the company, reasons are quite objective due to the maturing of this asset. The first factor is its growing popularity as a payment currency, now it is possible to pay for specific goods and services with a cryptocurrency.
The second reason is that the problem of security is solved. If necessary precautions are taken, the owners of the asset may not fear to storage it. And most importantly - the attitude of society to Bitcoin and blockchain as a whole has changed. While Bitcoin and blockchain were previously perceived as a solely speculative tool, now many users have discovered the importance of new technologies.
Global attitude to cryptocurrencies
The Stellar network has stopped its operation for two hours. During this time, transactions could not have been validated because registries failed to close securely. This happened due to the fact that the validators could not contact the required number of nodes and receive a quorum. However, no one suffered any damage from this failure.
Experts explain the occurrence of the problem with too fast process of decentralization, which the Stellar team is now conducting. In addition, just a month ago, stablecoin Paysend was launched here for international payments without commissions. This greatly increased the load. In general, it turned out that the network simply could not cope with the flow of information. As a result of the incident, customer accounts did not suffer any damage, and the team of stablecoin will be able to do "work on the bugs."
Chainalysis's research showed that every third ethereum belongs to one of the 376 major asset holders. And it can be both companies and individuals. Almost 60% of them do not carry out active operations with cryptocurrencies, and use ethereum as a means of accumulation and saving.
A year ago, this group owned 42%, so we can talk about serious decentralization over time. At the same time, it is worth recalling that more than 30% of Apple belong to only 24 companies. Therefore, even at the initial stage, decentralization in the blockchain is at a much higher level. Therefore, concerns about possible manipulation of the price of cryptocurrencies may be unfounded.