Ethereum News | Ethereum Blockchain News

Coinbase wants inflation-pegged flatcoins on layer-2 ‘Base’ network

US crypto exchange Coinbase wants inflation-pegged “flatcoins” to be one of four “critical” innovations it hopes to see on its newly launched layer-2 network, Base.

The company also wants developers to explore an on-chain reputation system, an on-chain limit order book (LOB) exchange, and tools to improve safety in decentralised finance (DeFi).

Coinbase announced the four areas in a ‘Request for Builders’ post, published a month after launching Base – a...

27 March 2023 | Blockchain Applications

Ethereum Shanghai hard fork set to launch 12 April

Ethereum’s much anticipated Shanghai hard fork is set to go live on 12 April, bringing several upgrades that complete the network’s transition to a proof-of-stake consensus.

The mainnet upgrade includes five Ethereum Improvement Proposals, most notable of which is EIP-4985, enabling staked Ether to be withdrawn on the Beacon Chain.

This will finalise Ethereum’s transition from proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism.

Ethereum...

18 March 2023 | Ethereum

Binance updates proof-of-reserves to $63bn with 11 new tokens

Leading crypto exchange Binance has added 11 tokens to its proof-of-reserves (PoR) report, claiming it now holds $63 billion (£53bn).

The company began publishing its reserves in late 2022 following the collapse of rival exchange FTX in a bid to increase transparency.

According to the update, Binance now holds 24 assets in its proof-of-reserves system. The 11 added tokens included Dogecoin, 1inch Network, Mask Network, Enjin Coin, WazirX, The Graph, Chromia, Curve DAO...

8 March 2023 | Bitcoin

Lido Finance adds staking limit after 150k ETH staked in one day

Liquidity staking protocol Lido Finance activated safety features to limit staking after more than 150,000 Ether was staked on the platform in a single day.

The decentralised finance (DeFi) protocol is popular amongst the crypto community as a tool to stake digital assets like Ether (ETH) without having to lock them away.

When Lido users deposit Ether, the tool issues a liquid version of their tokens back to them called staked Ether (stETH), rewarding users for each day...

27 February 2023 | Blockchain Applications

Coinbase is launching its own layer-2 network, called ‘Base’

US crypto exchange Coinbase is launching its own Ethereum layer-2 network, called Base.

The NASDAQ-listed company says the new network will provide a low-cost and developer-friendly environment for creating decentralised apps (DApps).

Base has been designed as a bridge to onboard users into the crypto economy, providing access to other layer-1 blockchains like Solana and making it interoperable with other...

24 February 2023 | Cryptocurrency

Ethereum decreased its annual CO2 emissions by over 21M tons

Over 109M more trees would have been needed to offset Ethereum’s CO2 emissions prior to its switch to a more efficient consensus.

Ethereum switched to a Proof-of-Stake (PoS) consensus last year in an event called The Merge. Regardless of personal views on Ethereum and the wider blockchain and web3 space, The Merge was broadly seen as an incredible feat of open-source engineering.

The Merge is the first major step on the road to Ethereum 2.0 which aims to tackle the...

23 January 2023 | Blockchain

Uniswap lets users buy crypto with card deposits and bank transfers

Users of decentralised exchange Uniswap are now able to buy cryptocurrency on its web platform using credit cards, debit cards, and bank transfers.

The feature upgrade is the result of a partnership with fintech firm Moonpay and is being rolled out worldwide, although the bank transfer option is exclusive to customers in select US states, the UK, Brazil, and the Single Euro Payments Area (SEPA).

Uniswap has said that users looking to convert fiat currency to...

22 December 2022 | Cryptocurrency

Visa will ‘actively contribute’ to web3 development

Visa refuses to become a dinosaur and will “actively contribute” to developing the web3 and crypto ecosystem.

Aside from maximalists, few experts believe that crypto poses an existential threat to fiat currencies. Legacy payment processors like Visa and Mastercard have increasingly been joining the web2-era disruptors like PayPal and Square in supporting the web3 and crypto ecosystem.

Greater public adoption of “crypto” will likely come through CBDCs (Central...

20 December 2022 | Altcoins

Russian Sberbank integrates blockchain with MetaMask

Russia’s largest bank Sberbank has given its blockchain platform access to the Ethereum blockchain through an integration with software wallet MetaMask.

The bank’s proprietary blockchain platform is now compatible with Ethereum applications and smart contracts, meaning developers can work interchangeably between either network.

Sber Blockchain Lab, the bank’s web3 arm, has also announced a MetaMask integration to further support interoperability between the...

2 December 2022 | Banking

Sam Bankman-Fried deepfake aims to scam FTX collapse victims

A deepfake of former FTX CEO Sam Bankman-Fried aims to scam victims of the exchange’s collapse.

FTX was the third-largest cryptocurrency exchange and Bankman-Fried was seen as the face of crypto in Washington. The exchange enjoyed many celebrity endorsements and secured a 19-year, $135 million sponsorship agreement with Miami-Dade county that included the local stadium being renamed the FTX Arena.

All of that success went up in smoke when concerns around the...