Tag: Layer

Ethereum community members propose new fee structure for the app layer

coiner

Two Ethereum community members, Kevin Owocki and Devansh Mehta, proposed a dynamic fee structure for the Ethereum application layer to strike a balance between revenue generation for app builders and fairness in fee extraction. The April 27 proposal outlined a simple equation that uses a square root function that proportionally lowers the percentage of fees as the funding capital allocated to a particular project grows. Owocki and Mehta explained: “For smaller funding amounts, the fee follows a square root function (sqrt(1000 x N)), providing proportionally higher returns to make building…

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Orange Pill App Secures $250k In Pre-Seed Funding To Shape The Bitcoin Social Layer

coiner

Today, Orange Pill App, a social networking app that facilitates real-life connections among Bitcoin enthusiasts, has successfully raised $250,000 in pre-seed funding, according to a press release sent to Bitcoin Magazine.  The funding round was led by Lightning Ventures, accompanied by several other angel investors, including NBA star Matthew Dellavedova and Barefoot Bitcoin Fund. Orange Pill App launched in November 2022 and is accessible worldwide to users on both iOS and Android platforms, aiming to infuse the digital realm with the tangible strength of in-person interactions. The application’s primary focus…

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Ordinals Have Proven Demand On Bitcoin, But Fees Will Push Users To Layer 2

coiner

This is an opinion editorial by Steven Hay, a writer, former trader and art dealer. The Ordinals controversy is still simmering and seems set to flare up again soon. Although Ordinals’ block space usage had been trending down since March 23, 2023, the release of notable collections and a burgeoning mania for BRC-20 tokens seems to have reversed that trend. Should competition for block space between Ordinals, BRC-20 tokens and purely monetary transactions remain high, so will fees. And, should fees climb sufficiently high, the ghastly shades of the blocksize…

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