DeFi & Ethereum News

2022-09-23 09:17:02 Coinbase Launches Node Stack, Aims to Attract Web3 Developers

Coinbase launches a new Web 3 development platform to drive the development of gaming, decentralized finance, and non-fungible tokens. At the core of the new platform is a technology called Node that makes it easy for developers to successfully configure and launch a blockchain node, amongst other things.

The Node stack will make it easy for a developer, for example, to synchronize a Web2 frontend with a Web3 backend, even if elements of the product lie outside their core competencies. Coinbase, the largest crypto exchange in the U.S., has had a rough 2022, with Q2 revenue falling $60 million short of analysts’ estimates with reported losses of $1.1 billion. Initially, Node will support Ethereum, with other blockchains set to follow.

Source

https://t.me/DeFi_Ethereum Open / Comment

2022-09-22 08:39:02 Solana co-founder says Ethereum has a long way to go in scalability despite Merge

Ethereum (ETH) blockchain energy efficient, the Merge Upgrade is expected to improve the scalability of the network. However, a section of the crypto market ascertains that Ethereum won’t be solving the scalability issue anytime soon despite the historic upgrade. Solana Labs Co-Founder Anatoly Yakovenko believes the Merge has minimal impact.

Yakovenko stated that the Merge is a positive aspect for the crypto sector, noting that it will bring some clarity, especially on the security of Proof-of-Stake (PoS) protocols, alongside attracting capital inflow. the scalability is expected to be achieved with other lined-up Ethereum future upgrades. Notably, at the moment, the network is focusing on the Shanghai upgrade set to introduce fundamental changes to Ethereum virtual machine functionalities. Ethereum killers’ will likely stand out as layer-2 protocols.

Source

https://t.me/DeFi_Ethereum Open / Comment

2022-09-21 06:45:02 Sparkster and its CEO to pay 'harmed investors' $35 million in SEC settlement

Crypto firm Sparkster and its CEO Sajjad Daya agreed to pay more than $35 million in a settlement with the U.S. Securities and Exchange Commission (SEC) over an "unregistered crypto asset offering" in 2018. The SEC issued a cease-and-desist order Monday against the two, claiming that they raised $30 million from 4,000 investors.

The money will be put in a fund to be distributed to harmed investors. "Without admitting or denying the SEC’s findings, Sparkster agreed to destroy its remaining tokens, request the removal of its tokens from trading platforms, and publish the SEC’s order on its website and social media channels," the SEC said in a press release. Balina promoted SPRK on social media without disclosing that he would get a 30% bonus on the $5 million in tokens he bought, the SEC said.

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https://t.me/DeFi_Ethereum Open / Comment

2022-09-20 08:41:02 BlockSec detects replay exploit with ETHPoW tokens

The Ethereum proof-of-work blockchain suffered a replay exploit with the attacker getting an extra 200 ETHW tokens after replaying a message from the proof-of-stake chain on ETHPoW, according to a cybersecurity firm that alerted the issue on Sunday. The ETHPoW blockchain developer team said that an attack exploited the contract vulnerability of the bridge, and not their blockchain itself.

"The exploiter (0x82fae) first transferred 200 WETH through the omni bridge of the Gnosis chain, and then replayed the same message on the PoW chain and got extra 200 ETHW," security company BlockSec said on Twitter. The attack happened because the bridge didn't correctly verify the chain ID of the cross-chain message, the company claimed. The developer team also said that it had been trying to get in contact with Omni Bridge since Saturday to inform them of the risks.

Source

https://t.me/DeFi_Ethereum Open / Comment

2022-09-19 09:18:02 Binance CEO Hails White House Crypto Framework, Citing ‘Responsible Innovation’

Binance CEO Chanpeng Zhao has praised the digital assets report from the White House, saying it shows initiative on the part of the US government. According to CZ, the right regulations will encourage technological innovation while promoting the fundamental values of cryptocurrencies and protecting consumers.

The Binance founder also described the US comprehensive approach to crypto regulations as a better way to ensure consistent and clear laws. This would be a good change from the current regulatory regime, where each state appears to be making its own rules. Meanwhile, the White House report on cryptocurrencies has faced criticism from stakeholders such as The Blockchain Association and Crypto Council for Innovation and lawmakers like Rep. Patrick McHenry.

Source

https://t.me/DeFi_Ethereum Open / Comment

2022-09-18 10:40:07 Ethereum Infrastructure Developer Infura Is Decentralizing, Protocol to Launch Next Year

Ethereum engineering firm Infura is creating a Decentralized Infrastructure Network to launch sometime next year, the firm announced Friday at the ETHBerlin hackathon. The network’s working title is the “Decentralized Infrastructure Network.” According to a statement, this new network will provide “millions of future users”.

Infura provides backend infrastructure for Web3 companies to launch their products. It offers businesses a way to connect to blockchains like Ethereum without having to run their own nodes. As it gains more customers, Web3 as a whole becomes more centralized as firms run their projects through Infura. Back in 2019, Infura said decentralization could be achieved if every person ran their own node. Now, the company’s Decentralized Infrastructure Network could be an alternate solution.

Source

https://t.me/DeFi_Ethereum Open / Comment

2022-09-17 12:13:02 Prominent Ethereum Mining Pools Extends Support to ETHW Mining

Ethereum finally transitioned its underlying consensus model to proof-of-stake (PoS) on September 15th at block 15537393. The historical event, however, failed to shed off the appeal of the new proof-of-work (PoW) version of Ethereum.ETHPoW (ETHW), a hard fork of Ethereum supported by a group of PoW proponents, has unveiled a list of all the mining pools that will support EthereumPoW after its mainnet launch.

Some prominent mining pools, such as F2Pool, Poolin, AntPool, Nanopool, BTC.com, 2miners, and EthwMine, have made it to the list. As per its announcement, all Ethermine stratum servers will be shut down, and the pool will shift to a withdraw-only mode. Post Merge, the miners will be replaced by validators tasked with keeping the network secure and processing transactions, a move that saw vehement opposition from many miners.

Source

https://t.me/DeFi_Ethereum Open / Comment

2022-09-16 08:37:02 ETH Funding Rates at All-Time Low as Ethereum Prepares to Ditch PoW

ETH funding rates have dropped to an all-time low as the Merge is getting closer. It appears traders are preparing for volatility. Barring any unforeseen technical challenges, Ethereum will transition to a proof-of-stake consensus mechanism in about one hour, according to EtherNodes estimations. With that, it appears that futures traders are already making their move.

At the time of this writing, ETH funding rates are at their all-time lowest point, according to data from CryptoQuant. Funding rates are important for futures traders because they can have a considerable impact on their profits or losses. With relatively high leverage, a trader that pays high funding may suffer losses even if the market doesn’t go through excessive volatility. CryptoQuant indicates that short traders are currently the dominant force in the order book and that they are willing to pay long traders.

Source

https://t.me/DeFi_Ethereum Open / Comment

2022-09-15 13:11:42 The Ethereum Merge is complete. Proof-of-Stake is live


Good thing: the Merge hasn't imploded the market

Bad thing: we kinda lost the last bullish narrative we had

Ethereum Merge Open / Comment

2022-09-15 11:29:02 Ethereum social dominance grows over 20% in a month as Merge nears

Ethereum (ETH) Merge upgrade scheduled for September 15, the interest and excitement around the second largest cryptocurrency by market capitalization has only increased in recent weeks as the event drew nearer. On September 13, stood at 14.79% after climbing +23.19% in only one month, according to the statistics provided by the social intelligence platform LunaCrush.

Meanwhile, on September 14, social mentions for Ethereum were up 9.7% over the last week, while sociEthereum’sents were up 34% over the same time period. ElsewhereEthereum’sg Intelligence sen’or commodity strategist Mike McGlone ‘as suggested that the technology behind Ethereum’s Merge upgrade is ‘revolutionizing this financial world.’. McGlone also opined that Bitit’s (BTC) and Ethereum would be the poten”ial winners from any interest rate hikes.

Source

https://t.me/DeFi_Ethereum Open / Comment