Ethereum

An unknown Ethereum user is sending tiny batches of ETH to numerous doxxed cryptocurrency wallets that celebrities use. The ETH recently contacted Tornado Cash – the Ethereum mixer sanctioned by the US Treasury Department on Monday.  According to data from Etherscan, the wallet has sent portions of 0.1 ETH to Shaquille O’Neal and Jimmy Fallon addresses. Other figures include NFT artist Beeple, Coinbase CEO Brian Armstrong, and Ben Horowitz from a16z. The parties receiving the tiny ETH donations may be…

Shark Tank star Mark Cuban recently aired his thoughts on Ethereum’s upcoming “Merge” upgrade. He pointed out how Ethereum’s utility as a smart contract platform and as a deflationary asset are at odds.  In an interview with Altcoin Daily on Sunday, Cuban explained that there is an inverse relationship between deflation and utilization of Ethereum. “If utilization goes up, and the value of a token goes up, then the cost to do something goes up,” he explained. “So you have…

Early this morning, blockchain protocol Chainlink shared a release outlining its plans following Ethereum's merge upgrade. The platform revealed that it will cease to support the forked versions of the Ethereum chain. Chainlink Stands With the Ethereum Foundation Over the past few weeks, the Ethereum blockchain has been getting ready for its long-awaited shift to the proof-of-stake consensus mechanism. The network’s core devs have dubbed it the merge and set a tentative launch date in the middle of September. Ahead…

During a recent Korea-based tech conference, BUIDL Asia, Vitalik Buterin shared his views on the future of stablecoins.  In his statement, the Ethereum co-founder asserted that centralized assets such as USDC and USDT could play key roles in certain prospective hard forks.  How Centralized USDT Could Tie into Hard Forks The event took place on Wednesday, August 3rd, and saw Buterin in attendance to speak about Ethereum’s approaching update, the Merge. Illia Polosukhin, co-founder of Near Protocol was also present…

Vitalik Buterin – co-founder of Ethereum – labeled MicroStrategy CEO Michael Saylor a “total clown” over Twitter on Saturday. The developer’s comment was in response to a clip of Saylor discussing Ethereum, securities laws, and the latter’s supposedly “biblical” basis. Saylor and Bitcoin Maximalists Chatting with the Not Investment Advice podcast in mid-July, Saylor spoke at length about Ethereum’s relationship with securities law. In one segment, he suggested that securities laws are rooted in biblical commandments, such as “thou shall…

Glassnode – a blockchain data provider – and CoinMarketCap have released their July 2022 report covering on-chain data during the bear market. On the topic of staked ETH, the report noted that a majority of the supply has concentrated in the hands of four staking providers.  Highly Concentrated Staking Per the report’s data, the amount of ETH staked on Ethereum’s beacon chain through Lido alone has already swelled to 4.137 million. That’s 31.8% of all staked ETH in existence.  Another…

In a recent community meeting, Blockdaemon's Ethereum leader expressed confidence in Ethereum's potential to maintain its top spot among Layer-1 protocols. Freddy Zwanzger, the Blockdaemon officer, asserted that all 'Ethereum Killers' would fail. Ethereum Killers is a colloquial term for green chip protocols like Solana, Cardano, and Polkadot. They didn't succeed in the past, and I don't expect them to,” he added. The Ethereum ecosystem leader of Blockdaemon stated that he does not foresee Ethereum dropping from its top position…

Polygon – a top platform for Ethereum scaling and infrastructure – has announced the launch of Polygon zkEVM. The program will allow Ethereum to scale to global use such that transactions can be settled instantly and nearly for free. . The Holy Grail of Scaling In an interview with CoinDesk, Polygon co-founder Mihailo Bjelic described zkEVM as the “holy grail” and “missing component” concerning Ethereum’s mass adoption. It combines three critical features: Ethereum compatibility, security, and scalability. The first feature…

Morgan Stanley says changing to Proof of Stake might not solve Ethereum's scaling problems.   An equity strategist for Morgan Stanley claims Ethereum beacon-mainnet merge will cause demand for graphics processors to plummet in the coming months. The Ethereum platform has been undergoing a parade of testnets preparing for its merge with Beacon Chain. This merge is a move to facilitate the blockchain's transition from operating a Proof of Work model, to Proof of Stake.  The PoW consensus model understandably…