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Highlights from Consensus 2018 Day 2: Lots of Smoke but No Fire

Author: Eren Sengezer May 15, 2018 at 20:46

The biggest crypto event of the year, CoinDesk's Consensus 2018, continues in New York with an endless stream of panels and speeches by key players. However, unlike yesterday, the markets haven't shown a noticeable positive reaction to the headlines coming from the second day of the event. In fact, the total market capitalization of all cryptocurrencies dropped back below $400 billion and was $389 billion at the time of writing.

43 out of 50 biggest cryptos, including the top 15, recorded losses for the day. EOS and XEM each lost nearly 10% on a daily basis to become the worst performing cryptos on the below-seen list.

charts via coinmarketcap.com

Highlights from Day 2

  • Perhaps the biggest announcement of the day came from the cloud computing giant Amazon Web Services (AWS). AWS has announced that they were teaming up with Consensys to work on a project called Kaledio to allow faster deployment of enterprise blockchains.  
    • "We have been following ethereum closely as it's what many of our customers have been exploring, especially for enterprise use cases," Matt Yanchyshyn, the global technical lead for AWS' partner program, told CoinDesk during the event and added: "Working with ConsenSys will allow us to further understand customer needs and help accelerate their blockchain efforts."
  • Another high profile name, cryptography legend Whitfield Diffie, also took the stage on Day 2. "These last few years have been another resurgence of cryptographic technology, and blockchain is now a huge refocus on the cryptographic aspects of these things," Diffie remarked.
    • Speaking at the same panel, Zcash founder Zooko Wilcox commented on the crypto market volatility, "Cryptocurrency prices tend to go up and down in unison regardless of whether the coin has proven to be bulletproof or useless. In the long term, though, I assume they eventually will because I think the markets do that."
  • Enigma, a project focused on building a blockchain-based protocol that uses privacy technologies to enable scalable, end-to-end decentralized applications, announced that it would make the first public demonstration of its privacy technology called 'Secret Contracts.' Nonetheless, investors didn't seem too excited about the announcement as ENG is losing more than 10% on the day.

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