IDA Finance’s use of Chainlink Proof of Reserves and CCIP products aims to boost cross-chain operability and asset security.
The DeSci movement continues to gain steam among industry insiders.
The organization claims it’s developed a first-of-its-kind blockchain network.
Ethereum Improvement Proposal (EIP) 7781 aims to reduce Ethereum network slot times, expand blob capacity, enhance decentralized exchange (DEX) performance, and lower gas fees. What Is Ethereum Improvement Proposal – 7781? EIP-7781 has garnered attention from the Ethereum (ETH) community due to its potential impact on the smart contract platform. Proposed by Ben Adams, co-founder of Illyriad Games, the new EIP promises several benefits, including reducing network slot times from 12 seconds to eight seconds, resulting in a 33% increase in transaction throughput without a corresponding rise in data blob counts. Related Reading: Vitalik Buterin Proposes A Privacy Fix for Ethereum For the uninitiated, data blob counts in Ethereum refer to the number of chunks of data included in a block for future use by rollups or layer-2 scaling solutions. These blobs help offload data storage and processing from the base Ethereum network, reducing congestion and improving scalability. EIP-7781 also aims to distribute network bandwidth more evenly, effectively lowering peak bandwidth requirements without sacrificing network efficiency. In his proposal, Adams explains: This would be equivalent to increasing blob count from 6 to 8 or gas limit from 30M to 40M; however this approach does not increase peak bandwidth. Commenting on the proposal, Ethereum Foundation researcher Justin Drake said he supports reducing slot times to eight seconds. Drake added that the proposal would help DEXes like Uniswap v3 become 1.22 times more efficient, saving approximately $100 million in CEX-DEX arbitrage annually, resulting in better user trade execution. Similarly, Pseudonymous developer Cygaar shared their thoughts on EIP-7781, saying, if approved, the proposal can increase Ethereum’s throughput by as much as 50%. The developer also confirmed that the proposal would help lower Ethereum gas fees. However, Cygaar cautioned that reducing slot times should not come at the expense of significantly increasing hardware requirements for solo validators. To clarify this concern, shorter block times could cause the Ethereum blockchain’s data to grow more rapidly, requiring stronger hardware and faster internet to keep up with the quicker updates. This could present challenges for solo stakers and node operators. EIP-7781 Raises Concern For Solo Stakers While EIP-7781 promises to address several of the current challenges on the Ethereum network, there are concerns about its impact on solo stakers. Related Reading: Ethereum Inflation Surge Casts Doubt On “Ultrasound Money” Claim: Report For instance, Cinnehaim Ventures partner Adam Cochran noted that the proposal “seems reasonable in terms of bandwidth on solo stakers” as long as the gas limit per block remains unchanged. Cochran added: Would want to see some tests on I/O hardware and staker return ping times to make sure it doesn’t cut off some home stakers but, it seems like it should be within range for most. It should be recalled that recently, Ethereum co-founder Vitalik Buterin advocated lowering the ETH requirement for solo stakers from 32 ETH to 16 or 24 ETH. Buterin stressed the importance of solo stakers in securing the Ethereum network, suggesting that an increased proportion of solo stakers could provide an extra layer of protection against network attacks. At press time, ETH trades at $2,469, up 1.7% in the last 24 hours. Featured image from Unsplash, chart from Tradingview.com
European Central Bank executive board member Piero Cipollone would like to see a sort of European union for digital assets.
The Guillemot family and Tencent would likely take the company private if the deal happens.
Aptos (APT) soared over 10% in the last 24 hours following Aptos Labs’ acquisition of HashPallete. The token is leading the market after becoming the largest gainer among the top 100 cryptocurrencies by market capitalization. Related Reading: Bonk ‘In Prime Position For Turbo Green Week’ As Price Recovers Key Level Aptos To Expand Its Presence In Asia On Thursday, Aptos Labs, the developer of the Aptos network, announced it had agreed to acquire the Japanese Blockchain developer HashPallete, the company behind Japan’s Palette Chain and a subsidiary of HashPort Inc. The agreement aims to become a “game changer for Japan and the Aptos ecosystem” as the integration with the Japanese blockchain is set to strengthen its presence in the Asian market: Japan has long been a hub of technological innovation, and it’s no different when it comes to blockchain. The country’s unique blend of advanced tech and widespread blockchain adoption makes it a model for Web3 initiatives globally. Today, we’re making one of our boldest strategic moves into this market with our agreement to acquire HashPalette Inc. As part of the acquisition, HashPort Inc. will migrate the Pallete Chain and its subsidiary’s applications to the Aptos Network. The Japanese chain will also have access to the Aptos ecosystem’s security, scalability, and developer tools. The migration is expected to be completed by early 2025, in time for the EXPO2025 DIGITAL WALLET. Moreover, Aptos Labs partnered with HashPort to support local developers, NFT creators, and enterprises by “continuing to build blockchain solutions (…) using Aptos Network’s infrastructure.” APT Leads The Crypto Market Following the announcement, APT’s price saw a daily 11% surge, jumping to the $8.66 resistance level before retracing to the $8.51 mark. This performance crowned the token as the leading crypto amid the market retrace. APT is among the few cryptocurrencies recording green numbers in most timeframes among the top 100 tokens by market cap. The altcoin registers a 7.5% and a 41% increase in the weekly and monthly timeframes. Additionally, its daily market volume soared 41.7%, reaching a $769.6 million trading volume in the last 24 hours. The token’s performance was highlighted by several crypto analysts, who considered that APT has the “most interesting chart” at the moment. According to Yuriy from BikoTrading, the cryptocurrency looks strong as the rising trading volume and the price performance “signs for continued growth.” The trader noted that APT’s price held above the key resistance zone amid the market retrace, which sent the token above Q3’s range highs. Similarly, crypto trader Osbrah stated that APT has been “secretly climbing its way to the most interesting alts charts.” He pointed out that, after October 1’s market sweep, the token had a “clean bullish retest” above the $8 mark. To the trader, the next big resistance is at the $9 mark, which could send APT’s price to the $7.95 support zone if it fails to reclaim it. Meanwhile, another market watcher suggested that the altcoin’s performance could be close to a breakout. Related Reading: Analysts Unfazed By Bitcoin (BTC) Drop, But Should We Fear October 5? Per the post, SUI and APT moved in a “catch-up trade” path for the past year, moving closely together until SUI decoupled in early 2024. This led to a 44-day lagging period for APT before it followed SUI’s movements. After that, APT rose 98% to its yearly high of $18.8 in mid-March. Now, APT has seen a 32-day lagging period after SUI decoupled again in September, showing “incredible amounts of strength.” Based on this, the analyst suggests that the cryptocurrency could follow SUI’s trajectory and kickstart a massive rally in the next two weeks if history repeats. Featured Image from Unsplash.com, Chart from TradingView.com
Pekao Bank from Poland, the country’s second largest lender, is making headlines by taking a bold approach to preserving art. Using the medium of blockchain technology, it has kept some of its most valuable artworks in an Arctic vault, and less exposed to the elements. This is just one of the latest developments from a […]
The Malaysian blockchain is the international supernode operator of China’s public Xinghuo blockchain.
SWIFT said it is uniquely positioned to interlink the fragmented digital asset landscape with its upcoming digital currency trials in 2025.
Aptos Labs’ acquisition of HashPalette positions the company to integrate Japanese businesses into its blockchain ecosystem and expand Web3 innovation.
The Chiliz blockchain is aiming to become "the sports blockchain," its CEO Alexandre Dreyfus told CoinDesk in an interview, while also calling out the disproportionate historical hype around NFTs in comparison to fan tokens.
Ava Protocol’s automation tools will simplify smart contracts on Soneium, while supporting developers with no-code solutions and lower costs.
The Cryptocurrency Open Patent Alliance has launched a campaign targeting “patent trolls,” arguing that they block the path to crypto innovation.
Amazon is set to launch 1KIN Lab’s new Web3 gaming subscription on its platform. The new service, developed by the company behind GR1D Network, aims to enhance users’ experience with exclusive content and early access opportunities within its GR1D TERMINAL platform and GR1D ecosystem. Related Reading: 7 Days Left: Pro-XRP Lawyer Predicts Likelihood Of SEC […]
Börse Stuttgart Group’s blockchain test, in collaboration with the European Central Bank, aims to revolutionize securities transactions by reducing settlement times to minutes.
Ripple has acquired in-principle financial services license approval from Dubai’s DFSA, moving closer to offering cross-border crypto payment services in the UAE.
NFT transactions dropped 32% from 7.3 million in August to 4.9 million in September.
Ju’s push for “smart regulation” in Web3 aims to curb scams, build trust, and ensure responsible growth, sparking community debate.
Ju’s push for “smart regulation” in Web3 aims to curb scams, build trust, and ensure responsible growth, sparking community debate.
The crypto world is full of technical terms, some of which are so difficult that almost no one understands them.
The crypto world is full of technical terms, some of which are so difficult that almost no one understands them.
Tether said it aided in recovering the stolen crypto by freezing the scammers’ wallets, which the FBI then seized.
Recently, Vice President and Democratic nominee Kamala Harris disclosed her long-awaited stance on the crypto industry. Despite the criticism surrounding her seemingly “vague” approach, some politicians have felt “encouraged” about Bitcoin (BTC) and digital assets after the VP’s statements. Related Reading: Ethereum Spot ETFs Record Best-Performing Day Since Early August VP Harris’ Crypto Statement “Encourages” […]
Private investigation firm Lionsgate claims it can help recover stolen crypto when going straight to the police fails.
Golem’s latest report explains the transfer of 135,000 ETH to CEXs as part of a staking test to ensure operational security.
The new Gameshift service will serve as a Web2-to-Web3 bridge for developers.
Ethereum (ETH) is not the best solution for payments, according to PayPal’s Vice President of Blockchain, Crypto, and Digital Currencies (BCDC) unit, Jose Fernandez da Ponte. Ethereum Falls Short For Payment Purposes Speaking at the Solana Breakpoint 2024 conference, Ponte brought attention to Ethereum’s inability to handle a high volume of transactions as a key […]
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.