Ethereum 2.0

The environmental impact of cryptocurrencies has been a significant issue this year. While the problem has always been present, it came into the limelight in 2021. Prominent critics of cryptocurrencies have pointed to the environmental impact they have had for years. Mining has been an incredibly challenging one. But, is there a way that digital assets can be good for the environment? A Very nuanced Issue As we said, it’s not a new issue for people to raise the problems…

The Eden network has raised about $17.4M in a funding round led by Multicoin Capital to protect its users against miner extractable value(MEV). Several frontiers, including Jump Capital, Alameda Research, and Yearn Finance Founder Andre Cronje, also procured the funding round. The network raised funds following the sales of EDEN tokens. Consequently, the funds will enable it to increase adoption, improve infrastructure and develop its network. In addition, the network plans to protect users against front-running with MEV fully. The…

Ethereum 2.0 allows users to stake ETH and become network validators. However, staking on Ethereum is unique since every validator requires 32 ETH and needs to run and manage dedicated software 24/7. Substantial rewards can be made while staking ETH, but the responsibility is also coupled with penalties and slashing (complete removal from the network) in the most severe cases.  Ethereum 2.0 staking is quite daunting as stakers need to meet some hefty basic requirements. Not everyone can afford a…

As more people continue to tag Binance Smart Chain as the "Ethereum Killer," Binance CEO Changpeng Zhao (CZ) has opined that the real Ethereum "killer" is no other blockchain but itself due to performance issues. In a recent Twitter thread, CZ noted that the success of ETH might become the cause of its downfall, not necessarily other cryptocurrencies. He wrote, "Vitalik once said (and there is a video of it somewhere), ETH killer is ETH. I believe he is correct,…

More than $5 billion has been staked in the Ethereum 2.0 smart deposit contract. This surge in deposits makes Ethereum 2.0 the third-largest staking network.  Ethereum 2.0 continues to attract Stakers Ethereum 2.0 smart deposit contract has continued to receive deposits despite hitting the minimum mark to launch. According to data from the launchpad dashboard, the amount of ETH currently staked is 3 million ETH. This represents about 2.8% of the total supply and is valued at $5.2 billion.  This…

Liquid Global has temporarily suspended the withdrawals of ERC-20 tokens and Ether due to rising GAS fees. The Japan-based crypto exchange notified its users of the development via a tweet today. It further explained that the exchange planned to resume withdrawal services once GAS fees returned to normal.  Rising Gas Fees Costs a Major Concern  Ethereum gas fee costs constitute a significant concern for many stakeholders within the ethereum ecosystem. Ethereum has been plagued with rising gas fees on its…

Ethereum price has recovered in the past 24 hours following a sharp drop below its support levels. The leading altcoin has been bullish in recent weeks and created a new all-time high this week. This had led to speculations that Ethereum could hit the $2,000 mark before the end of the week. However, a major correction occurred yesterday, with the coin dipping towards the $1,000 support level. Since then, the coin has retraced its movements and is currently trading at…

In an extensive blog post entitled "The State of Eth2", lead developer Danny Ryan published an update on progress in the Beacon Chain and upcoming developments for 2021. Ryan added that the individual Ethereum designations indicate "false sequentiality" in leaving one for the other. Instead, the term represents the different stack levels, he adds. Ethereum 2.0 is Picking Up The figures are attractive to most people, and the numbers are steadily increasing. As it goes to write, $2.78 million ETH…

Ethereum 2.0 continues to gain momentum with new developments on its smart contract network. Just six weeks after its beacon chain was launched, the number of validators has already exceeded 60,000. According to the analytical platform Beacon Chain, the total number of validators on the Ethereum 2.0 smart contract is 60,189. An additional 16,156 potential validators are waiting in the queue to be approved by the smart contract. This is remarkable and means that the beacon chain network launched on…