The market cap of one privacy-focused blockchain project is exploding in value, according to crypto analytics firm Santiment. Santiment says that the market cap for altcoin Verge (XVG) more than tripled in just two days as bullish sentiment soared. “The market cap of Verge has more than tripled (+209%) in just 48 hours, and it’s […]
The post Privacy Coin Explodes Over 300% As Bullish Sentiment Brews in Altcoin Markets: Santiment appeared first on The Daily Hodl.
Ethereum co-founder Vitalik Buterin published a research post that suggests using stealth addresses to enhance privacy-preserving transfers. Buterin detailed that stealth addresses can be implemented fairly quickly today on Ethereum and would significantly boost user privacy on the blockchain network. Buterin Suggests Stealth Addresses as a Solution to the Privacy Challenges in Ethereum Ecosystem Three […]
According to crypto analytics platform CoinWarz, meme token Dogecoin (DOGE) is vastly more profitable to mine than Bitcoin (BTC). Per the analytics platform, the electricity costs are slightly less to mine BTC than DOGE, but the profit margin for mining DOGE is signifcantly higher than mining BTC. At time of writing, the electricity costs to […]
The post Dogecoin Is 261% More Profitable Than Bitcoin in One Key Aspect: Crypto Analytics Platform appeared first on The Daily Hodl.
The Ethereum proof-of-stake consensus mechanism will cut energy consumption by a massive 99.95% compared to the proof-of-work system.
The Ethereum Merge has officially taken place, marking the full transition of the network to proof-of-stake (PoS).
On Sept. 15 at 06:42:42 UTC at block 15537393, the long-awaited Merge saw the merging of the Ethereum mainnet execution layer and the Beacon Chain’s consensus layer at the Terminal Total Difficulty of 58750000000000000000000, meaning the network will no longer rely on a proof-of-work (PoW) consensus mechanism.
Ethereum (ETH) price gets a slight pump following the Merge in hourly metrics, currently trading at around $1,635, according to data from TradingView.
The Ethereum Foundation said the Merge will make the Ethereum network about 99.95% more energy efficient and will set the stage for future scaling solutions, including sharding.
Ethereum co-founder Vitalik Buterin celebrated the Merge with a tweet moments after the historical transition happened:
And we finalized!
— vitalik.eth (@VitalikButerin) September 15, 2022
Happy merge all. This is a big moment for the Ethereum ecosystem. Everyone who helped make the merge happen should feel very proud today.
Speaking to Cointelegraph, StarkWare president and co-founder Eli Ben-Sasson that “the immediate importance of the Merge is the dramatic effect on energy consumption.”
Ben-Sasson said it also marks “the first step in a process that will lead to exceedingly widespread adoption of Ethereum,” stating:
“It starts a chain reaction of changes. The end result will be the very broad use of Ethereum’s computing power, and the general population using blockchain-based apps in many different areas of life.”
The Merge has come on the back of several years of hard work from the Ethereum Foundation.
.@VitalikButerin claims that #Ethereum will be able to to process "100,000 transactions per second", following the completion of 5 key phases:
— Miles Deutscher (@milesdeutscher) July 22, 2022
• The Merge
• The Surge
• The Verge
• The Purge
• The Splurge
A quick breakdown of what each stage means for $ETH. pic.twitter.com/FnaWww8mHZ
Businesses that issue Ethereum-based exchange-traded products (ETPs) have been busy making their own adjustments about the Merge. Bradley Duke, CEO of the European crypto ETP issuer ETC Group, explained to Cointelegraph that the company has prepared a “forked version” of their ETH-based ETP in case there’s significant support for a PoW fork after the Merge.
“If enough people get behind a fork for whatever reason, we feel the free market will decide on what should live and what should not,” Duke added.
Related: It’s on! Where to catch the Ethereum Merge live
With the Merge complete, the “Surge,” “Verge,” “Purge” and “Splurge” are the final stages left on the Ethereum technical roadmap.
The Surge will increase scalability for rollups through sharding, the Verge will achieve statelessness through Verkle trees, the Purge will eliminate historical data and technical debt, and the Splurge will involve a number of small miscellaneous upgrades.
One of the biggest transitions in the history of blockchain didn't go without opposition. ETHW Core, a group representing proof-of-work miners, announced that they will to conduct a hard fork within 24 hours after the Merge
Renowned designer Beeple celebrated the Merge with a sci-fi illustration:
THE MERGE pic.twitter.com/7tdfNZiuuv
— beeple (@beeple) September 15, 2022
The Ethereum Merge has officially taken place at block 15537393 on Thursday at 06:42:42 UTC, transitioning the network from PoW to PoS.
With Bitcoin breaking through new all-time highs, a closely followed crypto trader is expecting bullish BTC continuation while one altcoin on his radar prepares for liftoff. Crypto market strategist Dave the Wave tells his 82,700 Twitter followers that Bitcoin is appreciating within a rising channel with an upside around $75,000 and a downside around $55,000. […]
The post Trader Who Called Bitcoin Collapse in May Predicts BTC Will Keep Surging, Says One Altcoin Coiling for Huge Breakout appeared first on The Daily Hodl.
Regional reports from an exposition in Chengdu indicate Bitmain has unveiled a new scrypt ASIC rig for dogecoin, litecoin, digibyte, and verge mining. The Chinese reporter who disclosed the information says the new Bitmain model has a hashrate of around 9,500 megahash per second (MH/s) and overseas prices are reduced by 13%. Bitmain Unveils New […]
On May 7, the privacy-centric crypto asset monero captured an all-time high at $515 per unit, as demand for confidential transactions has increased in recent times. Monero has gained more than 190% during the last three months, while a number of other privacy coins like zcash, verge, horizen, and grin have seen significant gains as […]
