Daily Times

The prices of major cryptocurrencies continued an upward slide for the fourth straight day on Saturday with the market cap increasing to $1.44 trillion (+4.6 percent) as of 1330 GMT.

The price of Bitcoin (BTC), the largest cryptocurrency, increased to $33,894 after gaining 4.60 percent. With this increase in price, the market capitalisation of the BTC has reached $636 billion.

Likewise, ethereum (ETH) price gained 4.68 percent to reach $2,162. With this increase in price, the market capitalisation of ETH has reached $252.6 billion.

Similarly, XRP gained 2.49 percent to reach $0.608. The market capitalisation of XRP stands at $60.8 billion after this increase.

On the other hand, Cardano (ADA) price reached $1.22 with a 3.24 percent increase in its price. Its market capitalisation has reached $39.1 billion after this increase.

Likewise, Dogecoin (Doge) price appreciated by 1.95 percent to reach $0.196. With this increase in price, the market capitalisation of Doge reached $25.5 billion.

On the other hand, the Ethereum London hard fork scheduled for August 4 may be delayed due to security concerns. The ETH2 developer team addressed the concerns of miners and traders ahead of the London hard fork. The team found a bug in the code and fixed it. However, the hard fork may likely be delayed in case of further security concerns. The developers are set to discuss the best approach for the security of the Ethereum network on the next AllCoreDevs call.

In the EthCC event in Paris, Tim Beiko, core developer of Ethereum, discussed what’s next after releasing the EIP 1559 mainnet. Sharding is the most complex Ethereum scaling solution that splits the entire Ethereum network into multiple portions called ‘shards.’ Each portion or ‘shard’ then has its own unique set of account balances and smart contracts. Sharding is expected to reduce network congestion and increase the speed of transactions per second by creating parallel chains on the network. Beiko said that the EIP 1559 mechanism would be employed to price the cost of storing data on charts when shards are implemented on ETH2.