Ethereum Merge Officially Scheduled for September 15th

Ethereum developers have established tentative, official scheduling for the merge on September 15th. On that day, the network’s consensus mechanism will change from proof of work to proof of stake.  The date was established on Thursday during an Ethereum Foundation Consensus Layer Call. Developers agreed to target either September 15th or September 16th with the upgrade. However, the timing remains an estimate, and devs stressed that the official date is not finalized yet. On Thursday, developer Tim Beiko tweeted the…

Ethereum PoW Supporters Want to Discontinue EIP-1559

Via a lengthy Twitter post, Ethereum fork advocates recently promised to put an end to EIP-1559. In a detailed open letter, they claimed the Ethereum Foundation had used the proposal to foster a bullish narrative that ultimately harms miners.  Ethereum Abandoning Decentralization Ethereum’s forthcoming transition to proof-of-stake has seen a lot of positive attention, with several eagerly awaiting the Merge. However, there have also been opponents who believe the switch to Proof-of-Stake is a step backward. The account behind the…

Tainted Tornado Cash ETH Sent to Shaquille O’Neal’s Wallet

An unknown Ethereum user is sending tiny batches of ETH to numerous doxxed cryptocurrency wallets that celebrities use. The ETH recently contacted Tornado Cash – the Ethereum mixer sanctioned by the US Treasury Department on Monday.  According to data from Etherscan, the wallet has sent portions of 0.1 ETH to Shaquille O’Neal and Jimmy Fallon addresses. Other figures include NFT artist Beeple, Coinbase CEO Brian Armstrong, and Ben Horowitz from a16z. The parties receiving the tiny ETH donations may be…

Ethereum’s Utility and “The Merge” Are in Conflict: Mark Cuban

Shark Tank star Mark Cuban recently aired his thoughts on Ethereum’s upcoming “Merge” upgrade. He pointed out how Ethereum’s utility as a smart contract platform and as a deflationary asset are at odds.  In an interview with Altcoin Daily on Sunday, Cuban explained that there is an inverse relationship between deflation and utilization of Ethereum. “If utilization goes up, and the value of a token goes up, then the cost to do something goes up,” he explained. “So you have…

Chainlink to Stick With Ethereum PoS Post-Merge

Early this morning, blockchain protocol Chainlink shared a release outlining its plans following Ethereum's merge upgrade. The platform revealed that it will cease to support the forked versions of the Ethereum chain. Chainlink Stands With the Ethereum Foundation Over the past few weeks, the Ethereum blockchain has been getting ready for its long-awaited shift to the proof-of-stake consensus mechanism. The network’s core devs have dubbed it the merge and set a tentative launch date in the middle of September. Ahead…

Centralized Stablecoins Could Impact Future Ethereum Hard Forks – Vitalik Buterin

During a recent Korea-based tech conference, BUIDL Asia, Vitalik Buterin shared his views on the future of stablecoins.  In his statement, the Ethereum co-founder asserted that centralized assets such as USDC and USDT could play key roles in certain prospective hard forks.  How Centralized USDT Could Tie into Hard Forks The event took place on Wednesday, August 3rd, and saw Buterin in attendance to speak about Ethereum’s approaching update, the Merge. Illia Polosukhin, co-founder of Near Protocol was also present…

Vitalik Calls Michael Saylor a “Total Clown” Over Opinion on Ethereum

Vitalik Buterin – co-founder of Ethereum – labeled MicroStrategy CEO Michael Saylor a “total clown” over Twitter on Saturday. The developer’s comment was in response to a clip of Saylor discussing Ethereum, securities laws, and the latter’s supposedly “biblical” basis. Saylor and Bitcoin Maximalists Chatting with the Not Investment Advice podcast in mid-July, Saylor spoke at length about Ethereum’s relationship with securities law. In one segment, he suggested that securities laws are rooted in biblical commandments, such as “thou shall…

Over 50% of Staked Ethereum Held by 4 “Centralized” Entities: Glassnode

Glassnode – a blockchain data provider – and CoinMarketCap have released their July 2022 report covering on-chain data during the bear market. On the topic of staked ETH, the report noted that a majority of the supply has concentrated in the hands of four staking providers.  Highly Concentrated Staking Per the report’s data, the amount of ETH staked on Ethereum’s beacon chain through Lido alone has already swelled to 4.137 million. That’s 31.8% of all staked ETH in existence.  Another…

Polygon Launches ZK Rollup Testnet to Scale Ethereum

Polygon – a top platform for Ethereum scaling and infrastructure – has announced the launch of Polygon zkEVM. The program will allow Ethereum to scale to global use such that transactions can be settled instantly and nearly for free. . The Holy Grail of Scaling In an interview with CoinDesk, Polygon co-founder Mihailo Bjelic described zkEVM as the “holy grail” and “missing component” concerning Ethereum’s mass adoption. It combines three critical features: Ethereum compatibility, security, and scalability. The first feature…

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