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China’s lockdown censorship inspired Ethereum ‘based rollup’ Taiko

Taiko Labs co-founder Daniel Wang first wanted to make an “unstoppable” social network and found his way to an Ethereum “based rollup” in the process.

At the height of the COVID-19 pandemic, China plunged its economic capital, Shanghai, into a two-month lockdown in an attempt to outlast the virus — but it also wanted to eradicate any dissent regarding its zero-COVID policies, sparking one of Ethereum’s so-called “based rollups.”

“I lived in my apartment in the Shanghai COVID shutdown. I lived in my small apartment for almost three months without going out once,” Daniel Wang, co-founder and CEO of Taiko Labs — creator of the Ethereum layer 2 based rollup Taiko — told Cointelegraph at DevCon in Bangkok.

“I felt like I wanted to say things in China, but it’s not allowed. So my first idea is to build a decentralized publishing network,” he said.

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Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

Uniswap Labs Introduces Scalability-Focused Ethereum L2

Uniswap Labs Introduces Scalability-Focused Ethereum L2Uniswap Labs has announced Unichain, its Ethereum Layer-2 solution aimed at streamlining the user experience for those leveraging its services. The organization specified that Unichain would be built as part of Optimism’s Superchain, designed specifically with decentralized finance in mind. Unichain aims to lower costs by 95% compared to using the Ethereum blockchain and to […]

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

Ethereum layer-2 Scroll tips native token launch

The token, SCR, will be distributed through an Oct. 22 airdrop and listed on Binance, Scroll said.

Scroll is preparing to launch its native token, SCR, in what the Ethereum layer-2 (L2) network describes as its “first step toward decentralization.” 

On Oct. 22, Scroll plans to list SCR on Binance and airdrop the token among the network’s existing users, according to an Oct. 8 blog post.

According to Scroll, “SCR will be used as a primary governance mechanism of the protocol and progress to being a protocol utility token as Scroll becomes more decentralized.”

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Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

Bitcoin L2 and Sidechain Networks Surge to $1.31 Billion in Locked Value

Bitcoin L2 and Sidechain Networks Surge to .31 Billion in Locked ValueThis year, Bitcoin layer two (L2) solutions and sidechains have gained incredible traction, with the top ten Bitcoin-based sidechains or L2 protocols now controlling a combined $1.31 billion in total value locked (TVL). The latest figures reveal that more than 56% of this total is held within two prominent networks: Core and Bitlayer. Core and […]

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

‘First fast’ Ethereum scaler Movement peaks at 12K TPS on testnet

Movement Labs co-founder Rushi Manche claims his Ethereum scaling blockchain is peaking at 12,000 transactions a second on testnet.

Ethereum layer-2 blockchain Movement is aiming to be the “first fast” Ethereum scaler, with its co-founder claiming the network can process nearly double the number of transactions a second compared to its fastest rival at its peak.

Movement’s testnet, launched on July 30, had reached a peak of “over 12,000” transactions per second (TPS) and “in theory, could do 30 to 50 thousand,” Movement Labs co-founder Rushi Manche told Cointelegraph at Korea Blockchain Week.

“We’re gonna be the first fast L2 on Ethereum,” he claimed.

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Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

Fractal Bitcoin: good or bad for mining revenues?

August 2024 represented the worst month for Bitcoin mining revenue since September 2023, with $827.56 million in fees generated.

Fractal Bitcoin—a sidechain scaling solution for Bitcoin (BTC) that uses the Bitcoin core code—could potentially provide miners with an additional source of revenue. Conversely, fractal Bitcoin could end up slashing mining revenues.

According to TheMinerMag, Fractal Bitcoin is merge-mined alongside Bitcoin—meaning that the same mining hardware can simultaneously mine Bitcoin and Fractal Bitcoin. This could be an attractive and much-needed avenue for Bitcoin miners to bolster profits in the post-halving environment, without having to retool facilities for AI or high-performance computing.

However, the knife cuts both ways. Because Fractal Bitcoin supports the BRC-20 token standard and promises to be a faster, cheaper scaling solution for the Bitcoin base layer, this could reduce network fees created by demand for non-fungible tokens on the Bitcoin network, which translates to a reduction of miner profits.

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Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

Lightning Network Protocol Stacks Completes Nakamoto Upgrade With Defi Features

Lightning Network Protocol Stacks Completes Nakamoto Upgrade With Defi FeaturesThe Bitcoin Lightning Network’s Stacks protocol has completed its Nakamoto upgrade, finalizing a series of enhancements that began in April 2024. This latest phase, delivered on August 28, 2024, introduces stronger transaction finality guarantees, reduces miner extractable value (MEV) opportunities, and improves network resilience. Additionally, the upgrade prepares the network for the introduction of sbtc, […]

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

Ethereum L2 ecosystem processes a record 12.4M transactions in a day

The growth has been primarily driven by memecoin mania on the Coinbase L2 blockchain Base. 

Ethereum’s layer-2 scaling ecosystem has just reached a new daily transaction all-time high.

According to data from Growthepie, an Ethereum layer-2 block space analytics platform, aggregated daily transactions across the scaling ecosystem hit a record 12.42 million on Aug. 12. 

Leon Waidmann, head of research at the Onchain Foundation, commented on the milestone in a post on X on Aug. 13, stating that “scalability is improving rapidly” and “user activity is at its peak.

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Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

Zksync Introduces Community Governance With ZK Nation

Zksync Introduces Community Governance With ZK NationZksync, an Ethereum layer two (L2) network developed by Matter Labs, has launched a new community-driven governance system named ZK Nation. The system aims to enhance the governance, security, and scalability of the Zksync protocol through active community participation. ZK Nation: New Governance Framework Introduced by ZKsync According to the announcement, the ZK Nation governance […]

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

Shibaswap Migrates to Shibarium Network, Expanding Access to 2 Chains

Shibaswap Migrates to Shibarium Network, Expanding Access to 2 ChainsOn May 15, the development team for the meme token project SHIB announced that the decentralized exchange (dex) Shibaswap has been ported to the Shibarium blockchain. SHIB’s lead developer detailed that Shibaswap’s trading platform is now accessible to users of both the Ethereum and Shibarium networks. Shiba Inu Devs Port Shibaswap Over to Shibarium According […]

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum