Top US-based crypto exchange platform Coinbase is announcing the launch of a bridge for its Ethereum (ETH) layer-2 scaling solution. The project, called Base, is powered by the blockchain-scaling solution Optimism (OP) and is also slated to launch its mainnet on August 9th. To help kick off the launch of the bridge, Base is throwing […]
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Optimism (OP) outpaced Arbitrum (ARB) in terms of daily transaction count this week, which is the first time the project has beaten out its rival Ethereum (ETH) scaling solution in that metric since January. The Optimism network surged to a high of nearly 945,000 daily transactions on Thursday, likely driven by this week’s launch of […]
The post Optimism Outpaces Arbitrum in Daily Transaction for First Time Since January Amid Worldcoin Rollout appeared first on The Daily Hodl.
Chainlink (LINK) witnessed a price jump of nearly 19% on Thursday as the blockchain oracle rolls out a new protocol combined with upticks in whale transactions and trading volume. LINK’s new Cross-Chain Interoperability Protocol (CCIP) launched its “Mainnet Early Access phase” on the Ethereum (ETH), Optimism (OP), Polygon (MATIC) and Avalanche (AVAX) blockchains earlier this […]
The post Chainlink (LINK) Witnesses Surge in Whale Transactions and Trading Volume, Says Crypto Analytics Firm Santiment appeared first on The Daily Hodl.
An Ethereum (ETH) layer-2 chain incubated by Coinbase has just opened up its mainnet for builders ahead of a general launch in early August. The project, known as Base, notes in a press release that this new phase will enable builders to deploy their products on the chain and receive hands-on support from the development […]
The post New Coinbase-Incubated Layer-2 Network Opens Up Mainnet for Builders appeared first on The Daily Hodl.
A project supported by the US-based crypto exchange Coinbase says that its Ethereum (ETH) layer-2 protocol is on the cusp of launching its mainnet. The project, known as Base, says it has recently completed internal and external security audits, which means it has now fulfilled four out of the five criteria it set out for […]
The post Project Incubated by Coinbase Gears Up for Launch of Ethereum Layer-2 Mainnet appeared first on The Daily Hodl.
A widely followed crypto analyst is predicting that the altcoin market cap will decline dramatically as memecoin Pepe (PEPE) plummets. In a new DataDash update, crypto analyst Nicholas Merten tells his 511,000 YouTube subscribers that the altcoin market currently lacks any new catalyst that would attract more liquidity, setting the stage for a fall from […]
The post Altcoin Cleansing Underway As PEPE Memecoin Signals Market Cycle Top, According to Analyst Nicholas Merten appeared first on The Daily Hodl.
An earlier series of tweets sharing images of orange balls were the precursor to the announcement of a client for layer-2 solution Optimism.
A series of cryptic tweets depicting orange balls were revealed to be building up hype for a new rollup client for Optimism (OP) called “Magi” from the crypto arm of venture capital firm Andreessen Horowitz (A16z).
An April 19 Tweet from a16z engineer Noah Citron explained Magi is written in the programming language Rust and will “help improve the client diversity and resilience of the entire OP Stack ecosystem.”
Introducing Magi , our brand new OP Stack rollup client written in Rust.
— ncitron.eth (@NoahCitron) April 19, 2023
We've been working on Magi to help improve the client diversity and resilience of the entire OP Stack ecosystem.
Lets dive in.
code: https://t.co/U8ER6v2SSe
blog: https://t.co/A4Tx8iaVOh pic.twitter.com/S5hDbx5Q4R
The OP Stack refers to the set of software that powers the Ethereum layer-2 solution Optimism. Among the other benefits it provides, it helps simplify the process of creating layer-2 blockchains.
Citron explained Magi “takes the place of a consensus client (often called rollup client) in the OP Stack, and works alongside an execution client such as op-geth to sync,” meaning that it allows the Ethereum chain to advance by feeding new blocks to the execution client.
The lead engineer for Coinbase’s layer-2 solution Base, Jesse Pollak, also chimed in on the announcement, tweeting that “magi means more decentralization, security, and scale for the OP Stack.”
magi means more decentralization, security, and scale for the OP Stack.
— Jesse Pollak (jesse.xyz) (@jessepollak) April 19, 2023
excited to have @a16zcrypto contributing to the superchain alongside @BuildOnBase, @optimismFND, and more folks every day!
https://t.co/ffUOVM6eER
In an April 19 blog post, Citron opined that decentralization increases network security, which is “critically important for rollups” just as it is for the base layer of Ethereum.
A16z’s cryptic hype orange circle tweets echoed the way Coinbase hyped and introduced its own layering network called Base, which instead featured tweets of a blue circle.
Related: US share of global crypto developers fell 26% in 5 years — a16z
Citron kicked off the hype train with a tweet of an orange circle on April 18 bearing the phrase “coming soon.”
Its similarity to the hype before the announcement of Base prompted the crypto community to theorize another Ethereum layer-2 solution was imminent before a16z’s chief technology officer, Eddy Lazzarin, quashed the rumors.
✨
— Eddy Lazzarin (@eddylazzarin) April 18, 2023
(not an L2)
Citron also noted that Magi is still currently in development, and while it can currently sync to the Optimism testnet it will be some months before it is production-ready.
Asia Express: Bitcoin glory on Chinese TikTok, 30M mainland users, Justin Sun saga
A widely followed crypto analyst says that an Ethereum-based (ETH) altcoin looks set to hit new all-time highs after rising 190% in 2023. Pseudonymous trader Smart Contracter tells his 222,300 Twitter followers that layer-2 scaling solution Optimism (OP) will likely end up making all-time highs after breaking out from weeks of consolidation inside an ascending […]
The post Crypto Trader Says Ethereum Altcoin That’s Exploded 190% This Year Is About To Hit New All-Time High appeared first on The Daily Hodl.
A week ago, the Ethereum layer two scaling solution Arbitrum announced the launch of its native token called ARB, and since then IOU markets have launched giving some indication of how much the token may be worth. ARB claiming begins March 23 and when people get their coins on exchanges, the token’s value may turn […]
A popular crypto analyst known for calling the 2018 Bitcoin (BTC) bottom is predicting a massive rally for Ethereum (ETH). The pseudonymous analyst Smart Contracter tells his 221,400 Twitter followers that Ethereum appears to be at the end of a correction and ready to surge. “ETH/BTC just took out a six-month low, only 3% lower […]
The post ‘Monster’ Ethereum (ETH) Rally Incoming With Additional Altcoin Set To Outperform, Says Top Crypto Analyst appeared first on The Daily Hodl.
