Ethereum

Accounting firm Ernst & Young (EY) just announced that it would be using the Polygon protocol to implement its blockchain solutions on the Ethereum ecosystem. The firm said the new development would enable a future transition to less risky and more efficient public networks.  According to a recent press release, EY will adopt Polygon’s chain scaling solutions to uplift transaction volumes. This union will allow more predictable costs and settlements for business customers. The firm also disclosed it is engaging with Polygon blockchain scaling…

Recent data shows Ethereum's scaling solutions have locked assets amounting to $3 billion. The data tracks the total value of locked holdings in 17 different Ethereum L2 solutions. Arbitrum leads the list with $2.2 billion assets and a market share of 75%.  A Growing Interest in Layer 2 Projects Within the last seven days, Arbitrum made profits of more than 3000%. The project applies an Optimistic Rollup Technology in its operations. Thus, it allows the communication of smart contracts between Ethereum and Arbitrum's solution. …

The Eden network has raised about $17.4M in a funding round led by Multicoin Capital to protect its users against miner extractable value(MEV). Several frontiers, including Jump Capital, Alameda Research, and Yearn Finance Founder Andre Cronje, also procured the funding round. The network raised funds following the sales of EDEN tokens. Consequently, the funds will enable it to increase adoption, improve infrastructure and develop its network. In addition, the network plans to protect users against front-running with MEV fully. The…

A lead analyst from IntotheBlock reveals that Ethereum's inflation level is decreasing. According to a tweet, ETH currently has a lower supply rate. The tweet also explains that several factors are triggering a dip in the coin's issuance level. A Decrease in Purchasing Power? The annual inflation rate of Ethereum hit 3574 ETH compared to bitcoin's 900 BTC. This figure translates to a 1.11% decrease while Bitcoin's rate stands at 1.75%. The tweet's thread details some elements behind the numbers,…

One crypto critic, New York University's Aswath Damodaran, thinks Ether has a better chance of becoming a commodity in a possible blockchain-based future than Bitcoin. The NYU professor argued that Ethereum's upside potential outweighs Bitcoin's potential in a possible future paradigm dominated by blockchain-based technology. Inefficient Currency According to Damodaran, ETH will outshine BTC as a better lubricant for blockchain commerce. As for Bitcoin, the professor noted that the popular crypto was a speculative play. He added that bitcoin bulls…

Version 3.0 of Uniswap, an update that will render the automated market manufacturer far more appealing to cryptocurrency investors, is now live. The Uniswap protocol company announced version 3 in late March and has now been deployed into an Automatic Market Maker (AMM) amid an Ether crypto-bull run to all-time highs. ETH is the second-largest cryptocurrency and Ethereum's native token, where DeFi was born and is still thriving. Currently, the decentralized exchange, which got launched in Ethereum at the end…

Launched only six months ago, Binance Smart Chain has already managed to overtake Ethereum in the number of transactions processed. Could this be the sign of significant competition for the leading smart contracts network?  Daily Transactions Surges Past Ethereum’s  Binance Smart Chain achieved the feat of processing more daily transactions than Ethereum yesterday. Changpeng Zhao, CEO of Binance, revealed this feat on Twitter, comparing the Smart to Ethereum. “Today is an important day. Binance Smart Chain has overtaken Ethereum in…

The crypto market has been on a bullish run in recent weeks led by Bitcoin. Ethereum has also made impressive gains during this period moving from $130 to above $700 in 12 months. This gain has transferred to its ecosystem, with over 90% of ETH portfolios in profit. 90% of Eth Addresses In Profit Analytical firm Glassnode recently published a report analyzing the Ethereum ecosystem. During this analysis, it was discovered that more than 47 million ethereum portfolios were trading…