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Aave Pushes for Proposal to Support Ethereum PoS Exclusively
The tug of war between the two camps – PoS and PoW – in Ethereum has intensified.
The Merge continues to be one of the most high-profile upgrades in recent times. But the retaliation is strong and has gained many allies. Those opposing keep reiterating their push for Ethereum to undergo a “hard fork” after it transforms into a proof-of-stake (PoS) blockchain next months.
Despite this, many protocols are looking to shift exclusively to the PoS version. One such is Aave.
As per its latest proposal, members of the DAO governing the open source liquidity protocol – Aave DAO – are set to review whether to head towards the new version of the Ethereum mainnet and turn down any forked versions that continue to use the PoW consensus mechanism. In short, the Aave protocol will be shut down on any forks arising from the Merge.
The proposal read,
“There is a general consensus from builders involved in the protocol’s development that it is effectively impossible to sustain a viable Aave Market on any Ethereum fork running an alternative consensus (such as Proof of Work).
To ensure the continued existence of the protocol for the community, the Aave DAO should consider signaling strongly that the Aave Protocol should commit to the Ethereum Mainnet, running under Proof of Stake consensus.” Read More
Ethereum Name Service (ENS) Domains Exceed 2 Million After Record-Breaking July
Over 2 million ENS Domain names have been registered over the past five years.
Ethereum Name Service (ENS) domains skyrocketed in July as the project witnessed the largest monthly rise in revenue. The total number of registrations has surpassed the whopping two million barrier.
Ethereum Name Service, most popularly known as ENS, describes itself as a web3-friendly, decentralized protocol that links complex strings of alphanumeric machine-generated characters to human-friendly names.
The not-for-profit naming system is powered by the Ethereum blockchain, where ENS domain names are secured with the help of smart contracts. Additionally. these domain names are also non-fungible tokens and can be sold on NFT marketplaces, including OpenSea.
In short, it can be defined as an NFT that can act as an ETH wallet address, a cryptographic hash, or a website URL.
According to data from Dune Analytics, over 525,000 addresses had participated. The charts indicated 67,095 ENS registrations in February, but the figures spiked to 85,272 the following month. The uptrend continued, and April saw 162,978, with May recording a significant rise of 365,652 registrations – 124% higher than the month prior. Read More
Blockchain Governance: How to Bridge Gap Between Governments & Industry?
Cryptocurrency regulation remains a challenge for governments, and there seems to be no easy way to get around this topic. Some voices seek to make all decentralized finance (DeFi) products illegal, and conversely, some oppose any regulations. Regardless of the most extreme voices on either margin, there’s a pressing need for a bridge between industry innovators and regulators if the industry hopes to increase investor confidence.
Unlike other commodities, the challenge posed by attempts to regulate DeFi products is caused by the fundamental aspect of DeFi, decentralization. In the context of blockchain-based financial assets, decentralization refers to the transfer of control and decision-making from a centralized entity to a distributed network. Decentralized networks aim to limit the amount of trust that participants must place in one another and to prevent them from interfering with one another in ways that would impair the network’s performance.
Instead, a distributed ledger that contains identical data is accessible to each network member. Most of the network’s members will reject any member whose ledger has been altered or corrupted. Decentralization is core to the nature of cryptocurrencies & DeFi assets; it offers security, freedom from censorship, and privacy. Unlike fiat currencies regulated by central banks or government monetary policy, DeFi assets don’t have a central authority, jurisdiction, or uniform policy. Read More
Ripple partners with Travelex to launch enterprise crypto payment service in Brazil
The rollout of Ripple’s fast and cheap On-Demand Liquidity payment service means that enterprises will no longer have to wait three to five days to settle costly cross-border transactions.
XRP, the digital asset native to XRP Ledger used by Ripple's On-Demand Liquidity (ODL) service is set to be used to facilitate fast and cost-effective cross-border transactions in Brazil, following the launch of Ripple's partnership with forex company Travelex.
Digital payment network Ripple announced on Thursday that foreign exchange company Travelex will utilize RippleNet’s ODL to facilitate cross-border payments between enterprises by utilizing XRP. It also noted that Travelex Bank is the first bank approved by Brazil’s central bank to operate exclusively in foreign exchange.
While other Latin American companies such as Banco Rendimento, Remessa Online, Frente Corretora and Banco Topazio have already used RippleNet services, the Central Bank of Brazil’s approval makes this the first time a Latin American bank has utilized ODL, said Ripple.
Travelex will firstly enable these cross-border payments between Brazil and Mexico, with plans to open up more payment avenues in the region and with more use cases suited to enterprise needs. Read More
REFER THREE TO MARKETHIVE TO RECEIVE BONUS AIRDROPS AND ACTIVATE MICROPAYMENTS
As Markethive continues to gain traction with new members joining daily, Markethive is steadfast and in preparation to take a large share of the new Market Network that is the next generation following the social media craze of Web 2.0. Markethive is a Social Market Broadcasting Network. It sounds like a mouthful, and it is!
Markethive is an all-encompassing platform that has integrated;
As Markethive’s foundation is Blockchain-driven, it has its consumer coin, currently named Markethive Coin (MHV), but soon to be renamed Hivecoin (HVC - the Ticker Symbol). It is fully integrated into the system and has created an Ecosystem for all Markethive members, free and upgraded Entrepreneurs.
So Markethive has established its niche as the only Social Market Broadcasting Network with an infinity Airdrop and a system that rewards the users for engaging on the platform and learning how to use it with ongoing, real-time micropayments, otherwise known as a Faucet.
Markethive has the combined power of Facebook, LinkedIn, Marketo, and Amazon, with the real advantage of deriving income within the Markethive system while promoting your business and enjoying the social media interface. Read More
Fortnite developer supports Animoca subsidiary’s blockchain racing game
The indie games subsidiary has just received support from Epic Games for its upcoming blockchain-powered P2E racing game Torque Drift 2.
Australian indie game developer Grease Monkey Games, a subsidiary of Animoca Brands, has received financial support from video-game giant Epic Games to develop a new blockchain-based motorsport game Torque Drift 2.
Receiving an Epic MegaGrant from the Fortnite developers, the funding will be used to develop the motorsport title, which is based on drifting. The Unreal Engine is a 3D computer graphics game engine developed by Epic Games, which has been used in many industries after it was first showcased in the 1998 game Unreal.
According to a Thursday announcement from Animoca Brands, the Epic MegaGrant, which ranges from $5,000 to as much as $500,000, will be used to develop a realistic gaming experience that is on par with other triple-A games that also utilize the Unreal Engine.
Considering that Grease Monkey Games is developing a play-to-earn (P2E) game, the Epic Games grant represents a notable show of support from the traditional gaming sector, something which has often been at odds with blockchain gaming.
Torque Drift 2 is an upcoming drifting motorsport game with a tuning garage available to players from Q3 2022 and a full release date set for 2024. The game will utilize nonfungible token (NFT) parts, cars, decals and items that players can use to build up their car and profile.
Players will also be able to create their own paint job and car tune NFTs, which can then be shared and sold within the Torque Drift 2 marketplace. Read More
Staying Safe in Crypto: Tips and Practices To Protect Your Stack
From newbies to veterans, crypto users should not become complacent about securing their assets if they’re planning to stay long in the game.
With the increasing popularity and adoption of cryptocurrency and NFTs, hackers are finding new and improved ways to steal your valuable assets.
Taking your crypto security seriously is crucial to not getting hacked. All crypto users should adopt strong security habits to keep their tokens safe.
Phemex, one of the industry’s leading exchanges, applies a high level of security to protect users’ assets.
Far too often we hear stories of people losing their crypto to hacks, phishing attempts or by simply losing access to their wallets. This article will describe a set of strong security habits to help users keep their tokens safe for a lifetime.
Not Your Keys, Not Your Crypto:
Let’s say you are planning to hold your recently bought crypto for many years to come. Self-custody is crucial as it means that the only person who can access your account and the assets within them is no one other than you.
Any time you create a wallet, you generate a private key, along with a corresponding public key. Read More
World's Largest Ethereum Mining Pool to Drop Ether PoW Mining, Ethermine Starts Merge Countdown
The world’s largest ethereum mining pool, Ethermine, has announced the organization plans to drop proof-of-work (PoW) ethereum mining entirely. Ethermine says that the platform’s miner dashboard will display a countdown and users can continue to mine ether until the countdown reaches zero.
Largest Ether Mining Pool to End PoW Ethereum Mining — Ethermine Ethereum Mining Pool Will Switch to Withdraw-Only Mode After the Merge
According to a recent announcement from the world’s largest ethereum mining pool, Ethermine, the platform plans to halt ETH mining as soon as The Merge takes place. Currently, the Ethereum network will transition from a PoW network to a proof-of-stake (PoS) network on or around September 15, 2022. During the last few weeks, it’s been a guessing game as to exactly where ethereum miners will go following The Merge.
Ethermine is the world’s largest ethereum mining pool with 262.79 terahash per second (TH/s) dedicated to the Ethereum chain. The pool is much larger in terms of hashrate compared to the second largest ethereum mining pool F2pool, as F2pool commands 127.48 TH/s, according to today’s mining pool statistics.
“The mining phase of Ethereum will come to an end on the 15th of September 2022. After this date, it will no longer be possible to mine ether on the Ethereum network using graphic cards (GPUs) or ASICs,” Ethermine detailed. “As a consequence of this transition, the Ethermine Ethereum mining pool will switch to withdraw-only mode once the Proof-of-Work mining phase has ended.” The blog post adds:
An accurate countdown timer will be available on the miner dashboard. You can continue to mine ether until the countdown has reached zero. Read More
What is an NFT and why are they so popular?
Nonfungible tokens continue to captivate mainstream audiences around the world as Web3 technology grows at a rapid pace.
Nonfungible tokens (NFTs) have been part and parcel of the cryptocurrency space for the last couple of years. Still, their value and utility across several industries have driven their proliferation into mainstream consciousness.
Cointelegraph’s director of video production Jackson DuMont delves into the intricacies of NFTs, highlighting the importance of the underlying blockchain technology in proving ownership of digitally scarce assets: Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
