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Tag: Ethereum News

Ethereum’s Ropsten test merge is expected to initiate in the next 48 hours
7Jun By CryptolifedigitalNo Comments
Cryptocurrency

Ethereum’s Ropsten test merge is expected to initiate in the next 48 hours

Ropsten, Ethereum's oldest testnet, is about to undergo its transition to proof of stake — as one of the final tests ahead of the merge on the main Ethereum blockchain. While the exact timing for the Ropsten merge will fluctuate depending on a few variables, it's expected to happen on Wednesday, according to an official blog post from Ethereum. The major aim of the testnet is to practice Ethereum’s mainnet merge by the year-end. The Ethereum core developers have conducted merge tests in the past, including a shadow fork on the main network and another merge on a testnet called Kiln. Read Also: Solana Blockchain Tops $2 Billion All-Time NFT Sales Despite Market Slump This event will take Ropsten’s two chains — one proof of work, the other being the proof-of-stake beaco...
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Ethereum Hashrate Hits New ATH, While New Investors Inflow Network
5Jun By CryptolifedigitalNo Comments
Cryptocurrency

Ethereum Hashrate Hits New ATH, While New Investors Inflow Network

Glassnode analytics agency has brought out that Ethereum Hashrate has made seen another spike, rising to a new ATH of 1,255,783,319,785,900 H/s. Read Also: Cardano Users to Explore Djed Stablecoin Trial on EVM Sidechain: Details https://twitter.com/glassnodealerts/status/1532969273324453888 As stated by a chart from coinwarz, this is quite a substantial rise as the ETH hash rate surged from 1.1838 PH/s to 1.2995 PH/s since Friday, June 3. However, Ethereum mining difficulty has also spiked, reaching 5,703,436,743,435,700. Mining difficulty rises once in a while after an inflow of new miners who come after profits making it harder for them to solve mining problems. Read Also: Cardano's Sidechain Milkomeda Could Become Network's ZkRollup https://twitter.com/glassno...
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Ethereum Staking Increases but Will ETH Flood Markets After the Merge? 
3Jun By Cryptolifedigital2 Comments
Cryptocurrency

Ethereum Staking Increases but Will ETH Flood Markets After the Merge? 

The number of Ethereum (ETH) staked on the Beacon Chain has reached its highest-ever levels, but some observers are growing concerned over a larger sell-off after the merge. The amount staked ETH in the Beacon Chain Smart contrast has reached 12.76 million according to Glass node. It reported that 398,000 unique validators have staked and an additional 19,800 staked and came online in May. Read Also: Charles Hoskinson Says Cardano Will Disclose “Amazing” Features of Input Endorsers Next Week  Glassnode also claims that the number of staked ETH is 10.73% of the circulating supply. At present prices, the value of those locked up assets is around $23.3 billion. Whichever way, the spike in staking and confirmation is a note of confidence for the Ethereum community in a bear m...
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Ethereum Beacon Chain Releases on a New Testnet in Preparation for Upcoming Merge
1Jun By Cryptolifedigital1 Comment
Cryptocurrency

Ethereum Beacon Chain Releases on a New Testnet in Preparation for Upcoming Merge

The Ropsten testnet, as one of the longest-lived proof-of-work (PoW) testnet on Ethereum, is set to run through The Merge around June 8. As the merge is set to happen in August, leading Ethereum developer, Tim, Beiko announced on Tuesday that the Ropsten Beacon Chain had been released as a testnet for Ethereum users. Ropsten will be the first longstanding testnet to run via the Merge, which marks the end of the PoW architecture of Ethereum. A Step Towards The Merge Read Also: SHIB Wrapped on BNB Chain Can Now Be Used for Payments via This Company: Report The Ropsten testnet – fabricated five years ago and considered of the best replicas for the Ethereum blockchain – mimics aspects of the ETH mainnet, making it a test model of what the Proof-of-Stake network may look like....
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Ethereum (ETH) Rebounds 7% To Over $1900, Here’s Why
30May By CryptolifedigitalNo Comments
Cryptocurrency

Ethereum (ETH) Rebounds 7% To Over $1900, Here’s Why

Ethereum  (ETH) staged a strong recovery from recent losses, tracking a broader gain in crypto markets. The world’s second-largest cryptocurrency jumped 7% to trade above $1,900 for the first time since sinking to a 14-month low last week. Read Also: 96 Million Shiba Inu Burnt In 24 Hours, 2.41 Billion in 7 Days: Contribution Details A bulk of this crash came after a bug in the ETH Beacon chain raised concerns over the stability of a full switch to proof-of-stake. But more recent data shows that despite doubts through last week, staking and DeFi interest in ETH has remained resilient. This is also factoring into ETH’s price action, with traders hoping that its switch to PoS- ETH 2.0- can support DeFi after the Terra crash. ETH staking grows ahead of the merge On-chain ...
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Ethereum Gas Fees Touch New Lows, What’s Ahead For Ethereum
28May By Cryptolifedigital2 Comments
Cryptocurrency

Ethereum Gas Fees Touch New Lows, What’s Ahead For Ethereum

Ethereum is one of the most widely-adopted cryptocurrency projects worldwide. Yet, it’s hated worldwide for its sky-high gas (transaction) fees. Users globally constantly complain about the coin’s terribly-high transaction prices on various social media platforms. Read also: Dogecoin (DOGE) Gets Elon Musk’s Nod as a Payment Option for Tesla and SpaceX Merchandise Shockingly, Santiment, an on-chain and metrics platform, published on Twitter a report showing Ethereum’s transaction prices plummeting to their lowest. https://twitter.com/MsCryptomom1/status/1528016341155753984 The Ethereum Platform Ethereum is a distributed, permissionless, and open-source blockchain that provides users access to a smart contract. It is the second-largest blockchain by market capitalization, f...
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Ethereum Core Developer Gives A Clue At Proof-Of-Stake Shift Taking Place In August 2022
27May By Cryptolifedigital2 Comments
Cryptocurrency

Ethereum Core Developer Gives A Clue At Proof-Of-Stake Shift Taking Place In August 2022

Ethereum is shifting from PoW to PoS network to solidify its stance in the crypto space. This plan and preparation, which have been ongoing for more than a year, seem to be ending. There’s a hopeful expectation that Ethereum will finally become a proof-of-Stake network. The transition process, also known as Merge, will soon come alive. Read Also: Blue Chip NFTs 101 – What’s The Secret Behind CloneX? Built For The Metaverse Every cryptocurrency network’s security and smooth running depend on its consensus mechanism. Also, it ensures its transaction validation process that will eliminate fraud and repetition due to errors of commitment and omission. At the permissionless conference, one of Ethereum’s core developers, Preston Van Loon, made this revelation to attendees. He stated th...
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Ethereum Beacon Chain Forks, Resolved
26May By Cryptolifedigital1 Comment
Cryptocurrency

Ethereum Beacon Chain Forks, Resolved

The Ethereum beacon Proof of Stake (PoS) chain had an unintentional fork on Wednesday. “The Ethereum beacon chain experienced a 7-block deep reorg,” said Martin Köppelmann, the co-founder of Gnosis. The fork was due to a new change in the protocol that adds a ‘proposer boost’ to address certain potential attacks, according to Terence Tsao an Ethereum Protocol Developer at Prismatic Labs. Read Also: Tether Releases A New Stablecoin Pegged To The Mexican Peso “Given that the proposer boost is a non-consensus-breaking change. With the asynchronicity of the client release schedule, the roll-out happened gradually. Not all nodes updated the proposer boost simultaneously,” Tsao said. So we have a classic situation here where some nodes have the boost, some don’t, and then th...
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ERC-721 Transfers Surpassed ERC-20 First Time Since 2019: Here’s What It Is
25May By Cryptolifedigital1 Comment
Blockchain

ERC-721 Transfers Surpassed ERC-20 First Time Since 2019: Here’s What It Is

The number of ERC-721 transfers on the Ethereum network has beaten the same metric for another standard, ERC-20. While some users may think ERC-721 is a unique type of token, it is simply the NFT token standard used in every collection out there. Read Also: Terra 2 Testnet Goes Live, Mainnet Launch With Airdrop To Follow The ERC-721 is a standard for non-fungible tokens, which are unique assets with different values than other tokens issued from one smart contract because of their rarity or visuals. Each token brought out with the  ERC-721 standard has a unique variable, called a token, which would be globally unique. The tokenId is then used by decentralized apps for giving an output of an image of a certain item. Despite the huge drop in the fame of NFT...
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Vitalik Buterin Presents Future of Ethereum and NFTs By Introducing Soulbound Tokens
25May By Cryptolifedigital1 Comment
Cryptocurrency

Vitalik Buterin Presents Future of Ethereum and NFTs By Introducing Soulbound Tokens

As the fame of Web3 and the NFT industry is slowly reducing, Vitalik Buterin proposed his vision of the future of NFTs that may bring a second breath to the industry:  the "Soulbound" property of an item from the online MMORPG World of Warcraft. Read also: Half-Billion SHIB Destroyed, But Burn Rate Declines 27%: Report First and foremost, it is important to clarify what the Soulbound property is. Soulbound is a property of an item that makes it non-exchangeable by mail or auction trading. The game distributes Soulbound items for accomplishing certain quests or picking them up by killing unique bosses. The soulbound property usually increases the worth of the item on a secondary market. Since it is impossible to sell or transfer soulbound items, users sometimes sell...
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