Author: dfmines

Twitter threads from last week reveal a series of heated arguments between Cardano founder and Ethereum’s co-founder, and Vitalik Buterin. Amid several backlashes caused by lapses in the Ethereum Upgrade, the co-founders argue over the execution of the POS consensus mechanism. A lot has transpired within the past days after the Ethereum upgrade. Also, there are more like the Shanghai upgrade to come. On Saturday, 24 September, Evan Van Ness, a Web3 investor, expressed his opinion regarding the Ethereum merge. Van asserted that the last ten days after the merge are evidence the merge should have happened earlier. Related Reading: ETH Struggles To Break Past $1,300 Resistance – Back To $1K? Buterin seeing Van Ness’s tweet, agreed with him, saying they should have implemented an NXT-like chain based on POS. Charles Hoskinson Claims Ethereum POS Is a Bad Design Hoskinson joined the Buterin-Van Ness conversation, saying there should be a Snow White protocol to ensure faster POS migration. Hoskinson’s opinion didn’t go well with the others, which resulted in an argument between him, Van Ness, and other Ethereum developers. Snow White is a protocol that provides end-to-end proof of security for POS systems. Hoskinson has been an advocate of Snow White for many years. Hoskinson claimed his idea for the Ethereum network’s technical upgrade in 2014 was better than the present upgrade. Van Ness recalled that Hoskinson got removed from Ethereum due to his bad behavior and lack of notable technical contributions. Hoskinson accused Ethereum developers of ignoring Ouroboros in the last five years. Ouroboros is a secure proof-of-stake blockchain and the first peer-review researched based protocol. He also said the present version of the proof-of-stake upgrade is not well-designed. In their argument, Hudson Jameson, Ethereum’s core developer, responded to Hoskinson’s Ouroboros implementation claims. Jameson told Hoskinson that Ethereum developers hated Cardano because of his actions and behaviors. I guess Charles forgot about his Reddit history and how much he shit on Ethereum as he was building Cardano. Additionally, Vitalik did review Ouroboros a while ago. Ethereum devs aren't wanting to look at Cardano because of your attitude and actions as the face of Cardano. https://t.co/QB3QYRKkm5 pic.twitter.com/daX56FfwGv — Hudson Jameson (@hudsonjameson) September 26, 2022 The Ethereum developer also spoke of Hoskinson’s ill-treatment of Ethereum while he created Cardano. He also said Vatalik had reviewed Ouroboros. Charles Hoskinson On Success Of Cardano Hoskinson boasted that Cardano is not dependent on cryptocurrency to succeed and that they’ve grown to billions without mass adoption. Although similar arguments are not new between Hoskinson and the Ethereum developers, it shows how detached from each other the two blockchain’s have become. Both Ethereum network and Cardano are in the middle of intensive upgrades, but Hoskinson is known for his bullish opinions on his previous projects. Related Reading: Algorand: ALGO Price All Go With Nearly 30% Rally In Last 7 Days Cardano Vasil Upgrade and hard fork took place on Thursday, 23 September. Input Output Hong Kong (IOHK), the blockchain company behind Cardano, announced the successful upgrade via Twitter. IOHK stated the hard fork upgraded the network to block transmission without full validation to enable faster block creations. The Plutus smart contracts upgrade was for increased efficiency and a low-cost running of decentralized applications. Featured image from Pixabay, Chart: TradingView.com

PRESS RELEASE. RebusChain, a platform set to take DeFi mainstream, is going public by announcing its public coin distribution (PCD) late this Summer. The PCD means those supporting its mission can now acquire coins via liquidity bootstrap pool (LBP) on the Osmosis network, and this marks a significant milestone in the Rebus project, following successful […]

Galaxy announced that they will provide market data so that smart contract developers can build better blockchain applications.

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https://youtube.com/shorts/e-y1pLkIcFE DFINITY is a scam, why is he calling it bleeding edge tech and a sister network of ethereum? I don't understand. Is vitalik a scammer? I'm kinda dumb so I'd appreciate it if someone smarter helped me understand haha, cheers! submitted by /u/Illustrious_Sky7830 [link] [comments]

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PancakeSwap (CAKE), just like any other cryptocurrency, has had its share of ups and downs. PancakeSwap registers over 53% increase in 24-hour trading volume PancakeSwap among trending BNB projects today CAKE’s next resistance level could be at $5 Just two months after it was launched on September 2020, the token hit its all-time low to date. Back then, it was trading at just merely $0.19. Today, a quick glance of data provided by CoinGecko shows the 68th ranked crypto by market capitalization trading at $4.80. It is way below its $43.96-all-time high that was attained on April 30, 2021. CAKE might have lost 89% of that impressive trading value, but that does not necessarily mean the token is not commanding strong interest among traders. If anything, current data shows Christmas came early for the digital asset. PancakeSwap Outperforms Many Cryptocurrencies The crypto market is continuing to deal with bearish conditions, but CAKE was able to pull off an impressive feat – close the day and the week in green and outperform many of its competition. Over the last seven days, the governance token of PancakeSwap was able to increase its value by 9.4% and is one of the few digital assets to be “on the green” in today’s market. Related Reading: ETH Struggles To Break Past $1,300 Resistance – Back To $1K? Source: CoinGecko Its price recovery is not the only thing that is impressive about CAKE right now. Its 24-hour trading volume is also standing mighty strong. In fact, there was a 52% increase in the token’s trading volume, even reaching over $55 million before slightly reverting to above $51 million at the time of this writing. Even with that, PancakeSwap has shown some impressive leaps for the past week. Related Reading: Algorand: ALGO Price All Go With Nearly 30% Rally In Last 7 Days Will The Token Sell Like Real Pancakes? If its most recent trading volume is any kind of indication, the digital currency, by the looks of it, actually sold like pancakes. After all, high trade volumes often denote “high retail excitement” and in crypto space, this might work wonders for an asset’s price. Over the past week, CAKE placed high on the watch list of crypto investors and is among the trending BNB projects. The PancakeSwap bulls, though, needs to capitalize on this momentum in order to sustain price level of above $4.50 as this will lead to $5 as the next resistance level. If the pressure for buyers remains strong, CAKE’s short-term trajectory could be a sweet one. CAKE total market cap at $676 million on the daily chart | Source: TradingView.com Featured image from Cryptopolitan, Chart: TradingView.com

After being “sensible” and DCA’ing into an FTSE weighted all world ETF for the last few years along side my small crypto portfolio I’ve finally had enough of seeing any gains being wiped away by the ever snowballing drop in the £ plus the mental rate of inflation here. I’ve had this nagging feeling for…
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The controversial Arthur Hayes asks a burning question in his latest blog post. Is the PoS Ethereum prone to centralization? The former BitMEX CEO compares it to the Binance Smart Chain, that’s famously and admittedly centralized. Arthur Hayes also describes how the validator’s disagreements with the majority are going to go, and predicts disaster for the dApps that build over a platform that doesn’t prioritize censorship resistance. In the short term, though, he’s bullish on Ethereum. Related Reading: Former BitMEX CEO Arthur Hayes Says “Prepare” For A Massive Bitcoin Rally Before getting into all of that, Artur Hayes describes a concerning reality that many people in crypto Twitter have noticed and discussed. It has to do with the validators: “As of 21 September, Lido Finance, Coinbase, and Kraken together control slightly over 50% of all ETH staked on the beacon chain. This means they are the most powerful validators and, in essence, they could censor what sorts of transactions are processed. What do all three of these centralized entities have in common? They are all US-owned companies or DAOs with major investments from US venture capitalists.” For those keeping score, that’s a centralizing factor and a few single points of failure. All of those companies are under US jurisdiction, one of the most restrictive in the world. And of course, Arthur Hayes recognizes  “protections in place to help ensure decentralization” and that the system punishes validators that censor transactions. Nevertheless, the PoS system seems fragile. Big institutions that the government can sue are the validators. And the biggest validators will control the whole system.  Arthur Hayes Sees Centralization  How will the slashing mechanism that punishes unruly validators play out? According to Arthur Hayes, this is how the system will deal with rebels:  “There is a way to slowly lose your ETH if < 33% of the network refuses to attest to blocks. Slowly losing your ETH means that a validator is punished by reducing the deposit on a node. Should the deposit drop below 16 ETH, that validation node is removed from the network. This capital becomes dead capital as for the foreseeable future you cannot unstake ETH.” “There is a fast way to lose your ETH if > 33% of the network refuses to attest to blocks. The penalties get exponentially worse quickly such that opposing validators quickly fall below the 16 ETH threshold and are booted from the network.” Hayes predicts that everyone will let that happen again and again, and compares it to the original DAO story. Ethereum’s developers decided to fork and “everyone at the time tacitly went along with the devs who forked the protocol so that folks could get their money back, rather than staying true to Ethereum’s supposed “code is law” ethos.” ETH price chart on OkCoin | Source: ETH/USD on TradingView.com Bullish On Ethereum Short-Term Don’t get Arthur Hayes wrong, despite the criticism of the platform and PoS systems, he still thinks Ethereum will do well in relation to the dollar.  “ETH as a financial asset — fully tethered to the US-led financial system and under the pretense of “decentralization” — could still do extremely well in the near future. The issue that I wrestle with is whether truly decentralized financial and social dApps can exist at scale (i.e., with hundreds of millions of users)” Related Reading: BitMEX Mastermind Arthur Hayes Pleads Guilty, Avoids Jail Time In the end, it all goes back to the most important factor: scarcity. According to Hayes, the only thing that matters in the next three to six months is “how ETH issuance per block falls under the new Proof-of-Stake model. In the few days post-merge, the rate of ETH emissions has dropped on average from a +13,000 ETH per day to -100 ETH.” If this continues, Arthur Hayes is optimistic:  “The price of ETH continues to get smoked due to deteriorating USD liquidity, but give the changes in the supply and demand dynamics time to percolate. Check back in a few months, and I suspect you’ll see that the dramatic reduction in supply has created a strong and rising floor on the price.” Is the former BitMEX CEO right about this? We’ll find out soon enough. Featured Image by GuerrillaBuzz Crypto PR on Unsplash | Charts by TradingView