Polygon’s focus on building L2 infrastructure outweighs MATIC’s 50% drop from ATH
After a devastating 50% correction between Dec. 25 and Jan. 25, Polygon (MATIC) has been struggling to sustain the $1.40 support. While some argue this top-15 coin has merely adjusted after a 16,200% gain in 2021, others point to competing scaling solutions growth. MATIC token/USD at FTX. Source: TradingView Either way, MATIC remains 50.8% below […]
Ethereum's 'consensus layer' contract hits 10M ETH staked
Quantitative analysis conducted on popular blockchain site Etherscan indicates that 184,441 transactions have been responsible for 10.2 million Ether (ETH) staked into the Eth2 (consensus layer) deposit contract since inception on Nov. 4 last year. This figure is equivalent to over $26 billion, based upon current Ethereum prices. Mathematical calculations suggest that the milestone was surpassed during […]
YGG-backed Oasys blockchain hopes to take P2E gaming mainstream
The team behind the new gaming-focused proof-of-stake blockchain Oasys say that it’s been designed to increase mainstream play-to-earn (P2E) adoption. The Singapore-based firm (Oasys PTE. LTD) behind the new chain touts its scalability, eco-friendly PoS blockchain, “zero gas fee experience” and the portability of digital assets between different projects built on the blockchain as key […]
Eth2 is no more after Ethereum Foundation ditches name in rebrand
The Ethereum Foundation has removed all references to Eth1 and Eth2 in favor of calling the original blockchain the “execution layer” and the upgraded Proof of Stake chain the “consensus layer.” Ethereum’s long-awaited transition from a Proof-of-work mining model to a Proof-of-Stake (PoS) consensus mechanism is expected to go live around in the second or […]
Individual ETH miner hits jackpot with $540K block reward
An individual Ether (ETH) miner struck it big by mining a block on their own and receiving a reward valued at about $540,000. The miner was operating through the 2miners Ethereum SOLO pool on Jan. 17 when they mined an entire block and received 168 ETH. That reward vastly outstrips the per-block average reward of […]
Ethereum drops more than Bitcoin as China escalates crypto ban, ETH/BTC at 3-week low
The price of Ethereum’s native token Ether (ETH) crept lower Friday after China extended its crackdown on cryptocurrencies by deeming their transactions as “illegal.” “Financial institutions and non-bank payment institutions cannot offer services to activities and operations related to virtual currencies,” the People’s Bank of China said in a statement on its website Friday, adding […]
Staking on Ethereum 2.0, explained
While Ethereum 2.0 staking allows validators to be compensated for securing the network, ‘Ethereum 2.0 Staking Earn’ is its own product, providing users rewards from several DeFi products. On Ethereum 2.0, the PoS-powered blockchain will bundle 32 blocks of transactions during each validation round. Each block bundle is known as an epoch, which are finalized […]