When Ethereum launched in 2015, it was with the idea of creating a crypto coin, Ether (ETH), and at the same time, a global platform allowing developers to make distributed applications (dApps) on its blockchain. Thanks to being highly secure due to smart contracts and ETH being used to run transactions, as well as new features such as fully permissionless financial services and crowdfunding, Ethereum has taken the position of the undisputed number two coin in the crypto realm, preceded only by Bitcoin.
Recently, Ethereum has been in the news thanks to the Merge event, wherein the network transitioned to a proof-of-stake consensus mechanism, instead of the old proof-of-work one. Crypto staking is a much more environment-friendly alternative to mining, a topic we’ve examined recently in our news posts in detail. Still, there’s more to come from Ethereum, so we’re closely following its development to bring you all the latest Ethereum news you’ll need!
Arbitrum and Optimism overtake Ethereum in transaction volume
🚀 Layer 2 solutions like Arbitrum and Optimism are taking over! They’ve displaced the Ethereum mainnet in daily transaction volume for the first time. With faster and cheaper transactions, these L2 giants are a hit among users, making up nearly 80% of all L2 solutions. 🔥DeFi protocols and projects like Galxe are driving adoption of these L2 solutions, making them the go-to choice for many Ethereum users. 🚀
Arbitrum Owner Acquires Ethereum Consensus Software Prism
Offchain Labs, the company behind the Ethereum layer 2 solution Arbitrum, announced that it has acquired Prysmatic Labs, one of the key companies in charge of Ethereum’s maintenance and upgrades. This acquisition further strengthens Offchain’s importance in the Ethereum ecosystem. According to DeFi Llama, Arbitrum is already the most popular rollup solution based on total […]
Polygon Launches Ethereum zkEVM Testnet
Polygon has released its zkEVM testnet, used for testing Ethereum zk-rollups for dApps. Several prominent projects have immediately signed up, including DeFi platforms Aave and Uniswap, video-game company Midnight Society, and Web3 social network Lens. Zk-rollups are used to increase the speed of transactions, lower their costs, and enhance privacy. They function by condensing several […]
ETHPoW Attackers Take Off With 200 ETHW
Ethereum’s hard fork that functions with a proof-of-work consensus mechanism, ETHPoW, is now the subject of more bad news following its bumpy launch last week. Namely, the Ethereum mining fork was hit for 200 ETHW through a “bridge replay” exploit. According to the blockchain security company, BlockSec, the attackers moved 200 WETH by using the […]
Ethereum’s Mining Fork ETHPoW Gets Off to Bad Start
On the same day that Ethereum successfully transformed into a proof-of-stake network, its hard fork with a proof-of-work consensus mechanism, ETHPoW, launched as well. However, the launch of the mining-centric network didn’t go without issues. Namely, many users encountered issues when trying to access it. ETHPoW developers erroneously chose to use the same chain ID […]
Anchorage Digital Launches an Ethereum Staking Service for Institutions
The cryptocurrency storage company, Anchorage Digital, announced that it is launching an Ethereum-based staking service aimed at institutions. Venture capital firms, banks, and even governments will be able to earn rewards through staking on the Ethereum network. Diogo Mónica, co-founder and president of Anchorage Digital, stated that the company is “providing heightened legitimacy to market-tested […]