3 Challenges to Bitcoin’s Crown: Quantum Computing, Scaling, and Grid Reliance

November 17, 2024 Bitcoin.com

Bitcoin

While bitcoin (BTC) is often heralded as the toughest digital asset in existence, it still has room to grow and adapt to better meet the needs of its network. Here’s a dive into three potential ways the world’s leading cryptocurrency could accelerate its game. Can Bitcoin Hold Its Throne? As of this writing, bitcoin (BTC) […]

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Ethereum price shows strength, but a 23% drop in DApps activity raises concern

October 15, 2024 Coin Telegraph

Balancer

Declining DApp activity and lackluster demand for the ETH ETFs could limit Ethereum’s recent price rally.

Ether (ETH) price surged 9.4% between Oct. 10 and Oct. 15, reaching its highest level in two weeks at $2,687. However, despite these recent gains, Ether remains down 25% over the past three months, reflecting investor disappointment with the recently launched spot Ether exchange-traded funds (ETFs) and the overall lack of demand for ETH, despite Ethereum's focus on prioritizing layer-2 scaling solutions.

In the past 7 days, the Ethereum network saw a 23% decline in onchain decentralized applications (DApp) volumes and this downturn has sparked speculation that Ether's price could follow suit.

While various factors have negatively affected Ether’s price since mid-July, it is particularly striking that the overall cryptocurrency market capitalization remained relatively flat over the same three-month period.

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Coinbase Ethereum Scaling Solution Primed To Become Largest Layer-2 Blockchain by End of 2024: IntoTheBlock

October 15, 2024 The Daily Hodl

Altcoins

Market intelligence platform IntoTheBlock says Coinbase’s Ethereum (ETH) scaling solution is on track to become the largest layer-2 (L2) blockchain by the end of the year. In a new report, IntoTheBlock says that key metrics indicate Base is experiencing exceptional growth this year. IntoTheBlock first looks at Base’s total value locked (TVL), the metric representing […]

The post Coinbase Ethereum Scaling Solution Primed To Become Largest Layer-2 Blockchain by End of 2024: IntoTheBlock appeared first on The Daily Hodl.

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Vitalik: L2s that aren’t at least ‘stage 1’ are dead to me

September 12, 2024 Coin Telegraph

Coin Telegraph

The Ethereum co-founder said it was “stage 1 or bust” for his acceptance of a layer-2 project’s decentralization progress.

Ethereum co-founder Vitalik Buterin has reiterated his stance on layer-2 decentralization, stating that he only plans to acknowledge scaling solutions at “stage 1” of his decentralization scale.

In a Sept. 12 X post, Buterin said that he takes this “seriously” and that, starting next year, he only plans to publicly mention layer-2 networks that are “stage 1+”.

He added that there “may be a short grace period for new genuinely interesting projects.”

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

September 6, 2024 Coin Telegraph

Blockchain

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

August 14, 2024 Coin Telegraph

Coin Telegraph

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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Vitalik Buterin: L2s are ‘cultural extensions’ of Ethereum

May 30, 2024 Coin Telegraph

Blog Post

Buterin said Ethereum layer 2s have become “the ultimate playing field for action” from institutional profit-oriented groups and people buying pictures of monkey NFTs.

Ethereum layer-2s aren’t just about scaling — they’re also a rallying point for “subcultures” that grow the Ethereum ecosystem more than the single chain could do alone, says Vitalik Buterin, one of the creators of Ethereum.

In a May 29 blog post on Buterin’s self-hosted blog, the Ethereum co-founder examined the benefits of layer-2 blockchains outside of technical innovation, arguing that this layer also serves as a breeding ground for crypto subcultures.

One of these subcultures includes old-school “cypherpunks”—who build infrastructure and tools but are hands-off about how they are used, while the philanthropic “regens” are focused on providing the community with public goods.

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Aptos Reaches Milestone, Processes Over 95 Million Daily Transactions

May 27, 2024 Bitcoin.com

Altcoins

The Aptos blockchain reached a milestone in its history, processing over 95 million in a single day. According to data provided by Artemis, a blockchain statistics platform, the number broke an L1 industry record on May 24, pushed by the tap to earn game Tapos, in which each tap or click constitutes a transaction. Aptos […]

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Optimism to roll out new Superchain features for layer-3 devs

May 9, 2024 Coin Telegraph

Coin Telegraph

The layer-2 Ethereum scaling provider wants to onboard developers to build layer-3 DApps on its Superchain.

Ethereum scaling solution provider Optimism is looking to take its blockchain throughput a step further by onboarding layer-3 applications on top of the OP Stack.

On May 8, the Optimism team said that they were welcoming layer-3s to the Superchain where they can build on the OP Stack and share revenue with the Optimism Collective.

The OP Stack is the open standard codebase that powers development on Superchain, but it “isn’t limited to L2 chain deployers and app builders,” said the team before adding “it can also be leveraged by an ecosystem of L3s.”

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Polygon’s ZK-rollup Ethereum scaler Miden hits testnet

May 7, 2024 Coin Telegraph

Coin Telegraph

The Ethereum layer-2 scaling solutions provider is going up against StarkWare’s tech stack Starknet.

Ethereum layer-2 developer Polygon has launched an alpha version testnet of its latest zero-knowledge rollup (ZK-rollup) solution called Miden as the Ethereum scaling competition heats up.

In a May 6 X post, Polygon said the Polygon Miden Alpha Testnet zero-knowledge was live for developers to begin testing. Miden is a ZK-rollup designed to extend the capabilities of the Ethereum blockchain.

Polygon’s latest solution — like other ZK-rollups — uses a type of cryptography where data can be verified or “proved” without revealing what the data consists of to the rest of the network.

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