Buterin’s comments come as ether (ETH), the native cryptocurrency of the Ethereum blockchain, has lagged behind tokens from rival blockchains as digital-asset markets rallied this year. Ether has climbed by 84%, while Solana’s SOL has jumped more than eight-fold in price and Avalanche’s AVAX has tripled. Bitcoin, the biggest cryptocurrency, has gained 153%. Source
In this exploration, we tackle the critical question: Will Ethereum recover? We’ll look at Ethereums future and analyze ETH’s present market status, potential for resurgence, the anticipated impact of the progress on Ethereum 2.0, and share expert price predictions. Will Ethereum Recover? Analysis The question “Will Ethereum recover?” depends on numerous factors. As of November 2023, Ethereum has shown signs of rebounding from its 2022 lows, suggesting a potential bottoming out. Key developments like the transition to Proof-of-Stake and the introduction of EIP (Ethereum Improvement Proposal) 1559, launched all the…
Aside from the garishness of it all, there’s been criticism of what some commentators describe as a potentially risky setup, where depositors are essentially relying on faith in an undisclosed group of “engineers” – as opposed to more robust security measures – to safeguard their cryptocurrency ahead of Blast’s real launch. For now, user deposits into Blast’s crypto wallet can’t be withdrawn. And at least initially, the juicy yields won’t come from any internal workings of Blast, but from routing deposits to other yield-paying projects, primarily the liquid-staking protocol Lido,…
CryptoFees data shows that Bitcoin daily fees averaged $10.65 million from November 16 to November 18, surpassing Ethereum’s average fee of nearly $7 million for the same period. Until 2024, the US Securities and Exchange Commission (SEC) is deferring decisions on several Bitcoin ETF applications, despite the market’s increasing optimism about the approval of a spot Bitcoin exchange-traded fund (ETF) in the US. This hesitation has coincided with a remarkable surge in the top crypto’s average transaction fees, soaring over 1,000% to reach a peak of $18.67 on November 16,…
Average daily transaction fees on Bitcoin (BTC) have flipped with Ethereum following a frenzy of Ordinals-related activity on the Bitcoin network. On Nov. 20, the average daily transaction fee for Bitcoin stood at $10.34, while Ethereum’s transaction fees came to an average of $8.43, according to BitInfoChart data. Bitcoin’s average daily trading fee notched a new six-month high on Nov.16, reaching a peak of $18.67, while Ethereum fees reached $7.90. Bitcoin’s average daily fees have surged above Ethereum’s in the last five days. Source: BitInfoCharts The sudden uptick in Bitcoin…
LAYER 2’S EVERYWHERE: In last week’s The Protocol, we dedicated a not-inconsiderable quantity of ink to the fast-growing list of new “layer 2” blockchains aiming to provide a venue for fast and speedy transactions atop Ethereum. Grab another well, cause there’s been plenty more announcements already this week. The most notable was inarguably Tuesday’s disclosure by the crypto exchange OKX that it plans to build a layer 2 using Polygon’s technology. Wednesday brought the news of Kinto, which has raised $5 million this year to develop a layer-2 network that’s…
“There’s that ethos in Web3 about decentralization being a core value,” Thomas Hay, the lead product manager for Infura, told CoinDesk. “We know there are advantages to a centralized service in terms of the ease of use and the ability to get up and running, but moving in the direction of being a decentralized service allows some really interesting things to get done.” Source
Plasma, a once-prominent Ethereum layer 2 scaling solution, should be revisited by teams currently working on zero-knowledge Ethereum Virtual Machines (EVMs), says Ethereum co-founder Vitalik Buterin. Invented in 2017, Plasma diverts data and computation — except deposits, withdrawals and Merkle roots — to an off-chain environment. It was superseded by optimistic and zero-knowledge (ZK)-rollups as the two solutions offered cheaper client-side data storage costs and security properties that “cannot be matched,” Buterin explained in a Nov. 14 X (Twitter) post. Exit games for EVM validiums: the return of Plasmahttps://t.co/QgyzXAl0wv —…
As staking becomes better understood, investors will demand that yield rate be more predictable. Moreover, they will pit providers – LSTs, funds, ETPs, CEXes, futures contracts – against each other to hunt for the best return. Benchmarking these returns provides a yardstick for investors, and allows providers to show the alpha they are able to deliver. Source
Proto-danksharding will also “serve to set the scaffolding for future scalability upgrades, including danksharding, as part of the blockchain’s ‘Surge’ roadmap,” the report said. Danksharding is a way of making Ethereum more scalable, and applies the same concept of splitting the network into shards, but instead of using these shards to increase transactions, it uses them to increase space for groups of data. Source