Ethereum – Page 3 – Crypto News Live

Celo blockchain proposes return to Ethereum ecosystem, transition to L2

July 16, 2023 coiner

CLabs, the organization responsible for developing the Celo blockchain, is seeking to return to the Ethereum ecosystem by transitioning from an independent EVM-compatible layer-1 blockchain to an Ethereum layer-2 solution. According to a proposal discussion on Celo’s governance forum, the transition would include leveraging OP Stack as the architecture to become an Ethereum L2 blockchain, eliminating the need to monitor tooling and libraries composability through upgrades, thus “making it easy for Celo developers to utilize the full gambit of Ethereum tooling/libraries.” Other key differentiating factors would include an off-chain data…

‘Ethereum for Business’ explains key use cases

July 16, 2023 coiner

The cryptocurrency market has encountered its share of ups and downs over the past year, but blockchain technology continues to see impressive growth as businesses seek digital transformation. Recent findings from the market research platform, MarketsandMarkets, estimated the global blockchain market size to be $7.4 billion in 2022. While notable, the report indicates that the blockchain sector is expected to generate $94 billion in revenue by the end of 2027. If these findings are accurate, this will result in a compound annual growth rate of 66% from 2022 to 2027.…

Ethereum TPS boost? Starknet ‘Quantum Leap’ goes live

July 12, 2023 coiner

The much-anticipated Quantum Leap upgrade by layer-2 scaling protocol Starknet was recently deployed on the Ethereum mainnet, allowing for as much as 90 transactions per second (TPS), boosting the network’s speed. MOARRR TPS DADDY STARKNET MAINNET QUANTUM LEAP 0.12.0 LIVE ON MAINNET pic.twitter.com/RaI1XKcgy7 — Starknet (@Starknet) July 12, 2023 In an announcement sent to Cointelegraph, Uri Kolodny, the co-founder and CEO of StarkWare, said it’s a momentous day for the Ethereum blockchain, as the scaling ceiling has been “smashed.“ He explained that “high TPS is finally a reality on Ethereum…

3 key Ethereum price metrics point to growing resistance at the $1,750 level

June 16, 2023 coiner

Ether (ETH) price plunged 7% between June 14 and June 15, reaching its lowest level in three months and impacting investors’ view that the altcoin was en-route to turning $2,000 to support. It is worth noting that the $1,620 bottom represents a $196 billion market capitalization for Ether, which is higher than PetroChina’s $186 billion, and not far from chipmaker AMD’s $198 billion. Being the 66th largest global tradable asset in the world is no small feat, especially considering that the cryptocurrency is merely 8 years old and does not…

AWS experienced outages in the US, but Ethereum kept humming

June 14, 2023 coiner

Amazon Web Services (AWS) suffered a minor outage, but there was no significant impact on Ethereum network nodes even though they largely rely on Amazon’s hosting. On June 13, the cloud service provider went down temporarily for around three hours. At 12:08 pm PDT, the company first reported it was “investigating increased error rates and latencies” in parts of the United States. Many mainstream news organizations, such as the Associated Press, were affected and unable to publish articles. Ethereum advocate Evan Van Ness observed the outage noting that the Ethereum network…

Bitcoin, Ethereum to shake off ‘toothless adversary’ SEC as FOMC looms

June 11, 2023 coiner

Bitcoin (BTC) and Ether (ETH) are due volatility — but not thanks to “toothless” United States regulators, new analysis says. In its latest market update on June 9, trading firm QCP Capital told market participants to gear up for macro-fueled price action for BTC and ETH. Related: Why is Bitcoin price stuck? QCP Capital: U.S. crypto “mudslinging” to continue The dust is continuing to settle on this week’s main macro stories — lawsuits against exchanges Binance and Coinbase from the U.S. Securities and Exchange Commission. More upheaval will come in the future,…

Subsocial chat program implements Ethereum usernames, Polygon donations

June 8, 2023 coiner

Grill.chat, a chat app based on the Subsocial network, has now implemented Ethereum Virtual Machine (EVM) wallet compatibility, allowing users to chat using their Ethereum identities and send crypto to each other via Polygon, according to a June 7 announcement. Subsocial is a Polkadot parachain designed for social media applications. Grill.chat allows users to participate in over 70 chat rooms focused on mostly crypto-related topics. The development team seeks to attract new Web3 projects to build their communities on the platform. Polkadot Decoded chat room on Grill.chat. Source: Grill.chat The integration…

Ethereum gas fees cool down after May memecoin frenzy

June 5, 2023 coiner

The average gas fee — transaction fee — on the Ethereum network has cooled substantially in the first week of June after reaching a multimonth high in May, owing to the memecoin frenzy and much maximal extractable value (MEV) bot activities. The average gas fee has decreased to $7.34, an almost one-third drop from last month’s high of $20. In terms of gwei — a denomination of Ether (ETH) that represents one-billionth of one ETH — the daily median gas price has decreased to 24 gwei from a peak of…

‘Bitcoin Jesus’ says Ethereum is the front-runner for global crypto adoption

May 31, 2023 coiner

Early Bitcoin (BTC) investor and Bitcoin Cash (BCH) advocate Roger Ver claimed that Ethereum, not Bitcoin, will be responsible for driving the bulk of new users towards crypto. On a May 31 episode of the Show Me The Crypto podcast, Ver — labeled “Bitcoin Jesus” for his early Bitcoin advocacy — said that despite Ethereum’s scaling issues and the other layer-one “clones” that have popped up in its wake, the Ethereum ecosystem is still where the action is: “Even though Ethereum doesn’t have the biggest market cap compared to Bitcoin,…

No ETH to trade? Ethereum exchange balance drops to a 5-year low

May 26, 2023 coiner

The balance of available Ether (ETH) across crypto exchanges dropped to a five-year low on May 26, bringing the total amount of Ether held on exchanges to 17.86 million. A drastic decline in the exchange supply of ETH like this has not been seen since April 2018. According to Glassnode data, only 14.85% of the total Ether supply is currently held on centralized exchanges, compared with the 25–26% of supply held during the 2021 bull run. The decline in Ether exchange balances. Source: Glassnode The drop in ETH supply began…