Kategorie: Crypto News

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Ethereum developers consider rolling out Pectra upgrade in two phases

  • Ethereum devs consider splitting the Pectra upgrade into two phases for a 2025 launch.
  • The first phase is targeted for release by February, with June seen as a deadline.
  • Pectra upgrade includes the Prague (execution) and Electra (consensus) layer upgrades.

Ethereum developers are contemplating a split of the much-anticipated Pectra upgrade into two phases to ensure they launch something as early as possible to meet the community’s expectations.

During a meeting on September 12, developers discussed the potential of launching the first phase of Pectra by early 2025, with a February target being deemed feasible.

“There is broad agreement that if we split, the idea is to ship Pectra one as quickly as possible, with early next year as our target,” a developer shared at the Ethereum execution layer meeting. Another developer echoed this optimism, noting that a February release seems realistic given the potential split.

Developer Danno Ferrin suggested that the split would only be sensible if the first phase could be delivered in the first quarter of 2025, while Ethereum researcher Ansgar Dietrichs warned that if the first phase is not shipped by June, the upgrade would be considered a failure. According to Dietrichs, “a split where we still only ship the first half in June would be a failure.”

Industry experts share this sentiment, with Galaxy crypto researcher Christine Kim noting that the split is highly likely due to the complexity of the Pectra upgrade. She also indicated that the scope of the upgrade could change significantly if developers opt for a two-phase release.

What is the Ethereum Pectra Upgrade?

The Pectra upgrade, which combines two major components — the Prague upgrade focused on the execution layer and the Electra upgrade targeting the consensus layer — promises to significantly improve the scalability and operational efficiency of Ethereum blockchain.

However, the complexity of the upgrade has led to discussions about splitting it into two separate hard forks.

Despite the challenges, there remains widespread optimism in the Ethereum community. Both Ethereum researcher Christine Kim and educator Sassal have remarked that Pectra is shaping up to be one of the largest upgrades in Ethereum’s history, with Sassal calling it the biggest upgrade to date.

A final decision on the Pectra upgrade split is expected to be made at the next Ethereum All Core Developers (ACD) meeting on September 19.

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Bitcoin Dogs (0DOG) makes an attempt at $0.04934 as Bitcoin (BTC) turns bullish

  • Bitcoin Dogs (0DOG) is projected to surge as Bitcoin’s price turns bullish.
  • 0DOG could reclaim its all-time high of $0.04934 due to increased demand amid new exchange listings.
  • Analysts predict a potential 100X move for 0DOG by the end of 2024.

As Bitcoin (BTC) gears up for what could be a record-breaking rally after struggling below $60k, many altcoins within its ecosystem are expected to follow suit, and Bitcoin Dogs (0DOG) stands out among them.

A BRC-20 token, 0DOG is directly tied to Bitcoin’s performance and with the current bullish outlook for BTC and a string of new exchange listings, it is poised to reclaim its previous all-time high of $0.04934.

Bitcoin (BTC) regains its footing, surging above $60k

At press time, Bitcoin price stood at $60,022, showing a steady 10% growth in the last seven days.

Although the price remains 17.43% below its all-time high of $72,689 (achieved six months ago), the market sentiment is bullish after a scare that made analysts anticipate a drop below $50k this weekend.

Most technical indicators currently show a buy signal indicating short-term bullishness and a possible long-term bullish trend. The key resistance level to watch is at $60,316, with bottom support around $58,294.

If Bitcoin breaks above the $60,316 resistance, analysts predict it could rapidly surge to the next target of $62,441.

Forecasts suggest Bitcoin could hit $79,207 by the end of 2024, with long-term projections reaching as high as $221,485 by 2025 and $369,701 by 2030. This anticipated growth, driven by institutional adoption and easing credit conditions, sets the stage for the entire Bitcoin ecosystem to surge, including projects like Bitcoin Dogs.

Bitcoin Dogs (0DOG) poised to retest $0.04934

Bitcoin Dogs (0DOG), the first-ever ICO launched on the Bitcoin blockchain as a BRC-20 token, offers a unique opportunity for those looking to capitalize on Bitcoin’s bullish momentum.

0DOG’s value is tied to Bitcoin, meaning as BTC surges, 0DOG is expected to outperform due to its smaller market cap and higher volatility. This is a classic “beta trade,” where a smaller asset experiences more significant percentage gains as its larger counterpart rises.

Currently priced at $0.00986, 0DOG is down 1.4% over the past 24 hours, but analysts are confident that the token is on the verge of a major breakout.

The all-time high for 0DOG is $0.04934, reached on August 22, 2024, and its current price presents a compelling entry point for investors looking to ride Bitcoin’s momentum.

With new exchange listings and a surge in market interest, 0DOG could see significant buy pressure, pushing it back toward its all-time high.

Exchange listings and future projections for 0DOG

Notably, Bitcoin Dogs has been on a listing spree, listing on major exchanges like MEXC, Gate.io, Uniswap, and UniSat Exchange shortly after a successful presale round.

These listings have opened 0DOG to millions of potential investors, increasing liquidity and market exposure.

The MEXC and Gate.io listings, in particular, are significant for the token’s growth prospects. For example, MEXC handles over $2 billion in trading volume daily and has a user base exceeding 6 million, providing Bitcoin Dogs with a massive platform to gain traction.

Also, the MEXC and Gate.io listings caused the token’s price to pump 3X within the first hour of trading, indicating the potential for 0DOG to experience a similar surge amid rumours of additional exchange listings, which could further fuel demand.

This increased market exposure, combined with Bitcoin’s expected bullish trend, makes 0DOG one of the top altcoins to watch in 2024. Analysts are predicting a potential 100X move before the end of the year, driven by both the macro environment surrounding Bitcoin and the internal developments within the Bitcoin Dogs project.

Additionally, a play-to-earn game tied to 0DOG is set to launch later this year, which could attract even more interest and drive up the token’s price.

For more information about Bitcoin Dogs and the 0DOG vesting schedule for those who purchased the token in the recently concluded presale, you can visit the official Bitcoin Dogs website here.

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Worldcoin integrates World ID on Solana using a Wormhole bridge

  • Worldcoin integrates World ID on Solana via Wormhole’s new cross-chain bridge.
  • The integration enables privacy-focused DApp authentication across blockchains.
  • Worldcoin has seen rapid growth, expanding to Austria and Southeast Asia.

Worldcoin has confirmed the launch of seamless World ID integration for Solana via a new cross-chain protocol from the Wormhole Foundation.

This achievement came just two and a half months after the Wormhole Foundation received a Worldcoin Wave 1 Community Grant, positioning the project as a key player in bridging decentralized identity solutions across multiple blockchains.

World ID, Worldcoin’s privacy-focused identity verification service, is built on the layer-2 Ethereum network, World Chain. It allows users to authenticate their identity securely without revealing personal data, facilitating private and verified logins for DApps. The integration with Solana, one of the fastest-growing blockchain ecosystems, opens new opportunities for developers to implement World ID into their applications.

Robinson Burkey, co-founder of the Wormhole Foundation, highlighted the importance of this collaboration, stating, “Bringing World ID to Solana is a big step forward for identity verification.

With the integration of World ID and Wormhole Queries, developers can now easily build applications that prioritize real users across chains, improving trust in decentralized ecosystems.”

This expansion is part of Worldcoin’s broader strategy to drive adoption of its World ID service, which had over 6.63 million users as of July 31, 2024. The company has seen rapid growth since its launch in July 2023, particularly in Europe and Southeast Asia.

Recently, Worldcoin expanded into Austria, making it the second European country to host its services. However, privacy concerns have led to the suspension of operations in Spain.

As cross-chain compatibility becomes increasingly important for blockchain ecosystems, this integration is expected to enhance the security and utility of decentralized applications while further boosting the adoption of Worldcoin’s World ID service.

Despite the launch, the price of Worldcoin’s native token WLD remains 4.73% down trading at $1.52 at press time. The token saw a sharp decline earlier in the day testing a daily low of $1.46 before slightly surging to the current price.

The post Worldcoin integrates World ID on Solana using a Wormhole bridge appeared first on CoinJournal.

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Starknet approves new staking mechanism with dynamic STRK minting curve

  • Starknet community approved a dynamic minting curve for STRK tokens.
  • The minting curve adjusts token supply based on staking participation levels.
  • Starknet Foundation can modify minting parameters to manage inflation and rewards.

The Starknet community has successfully passed a proposal to implement a dynamic minting curve for STRK tokens, a significant move to balance staking incentives with token supply.

Nearly 98.94% of voters supported the new staking mechanism, which aims to offer more control over token inflation while incentivizing user participation. It makes Starknet the first major Ethereum Layer 2 (L2) to roll out staking functionality.

The new minting curve included in the approved proposal is based on “Proposal 2” by Professor Noam Nisan, with slight modifications. It will adjust the minting rate according to staking participation levels.

James Strudwick, executive director of the Starknet Foundation, described the approval as a game-opCEO of StarkWare, and echoed these sentiments, noting that the approval “gives the community a real stake — both literally and figuratively — in its future.”

How the dynamic minting curve works

The dynamic minting curve will adjust the token minting rate (M) based on the staking rate (S) and a constant (C), initially set at 1.6. The formula allows the token supply to be fine-tuned according to how many users are staking, preventing inflation when staking levels are high and encouraging participation when engagement is low.

Additionally, the Starknet Foundation or a designated monetary committee will be responsible for adjusting the minting parameters. This includes the ability to modify the constant (C) within a range of 1.0 to 4.0, depending on staking trends.

Any changes to minting rates will require public announcements and a two-week notice period for community review, ensuring transparency.

With this dynamic system in place, Starknet hopes to foster a more engaged community and incentivize long-term network participation, helping to ensure the stability and growth of the platform.

The post Starknet approves new staking mechanism with dynamic STRK minting curve appeared first on CoinJournal.

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a16z Crypto, OpenSea and Stand with Crypto launch creator defense fund

  • a16z, OpenSea and Stand With Crypto have launched a $6 million creator defense fund.
  • OpenSea has pledged $5 million and a16z $1 million.
  • The fund will support the NFT market, with this coming weeks after SEC issued a Wells Notice against OpenSea.

Venture capital firm Andreessen Horowitz is collaborating with NFT marketplace OpenSea and Coinbase-backed non-profit Stand With Crypto to launch a new fund aimed at legal defense for the crypto creator ecosystem.

On Friday, a16z Crypto, Stand With Crypto and OpenSea announced the launch of Creator Legal Defense Fund, with an initial $6 million funding. The fund targets legal protection for artists and creators, according to details the three platforms shared.

“This collaboration marks a significant milestone in our mission to empower and protect the voices of artists and creators who rely on blockchain technology,” the firms wrote.

OpenSea pledges $5 million

Creator Legal Defense Fund’s unveiling comes just two weeks after the US Securities and Exchange Commission (SEC) issued a Wells Notice against OpenSea – a leading NFT marketplace. SEC’s notice indicates the regulator is considering a lawsuit against the platform for securities violations.

Following the SEC’s Wells Notice, OpenSea issued a statement noting that it would “stand up and fight.” Co-founder and CEO Devin Finzer called the regulator’s approach shocking, with OpenSea saying it would dedicate $5 million to a fund aimed at protecting NFT creators.

On Sept. 13, the marketplace, together with a16z and Stand With Crypto unveiled the creator defense fund. a16z noted it would contribute $1 million while OpenSea pledged $5 million. OpenSea CEO commented that the fund will offer legal expertise to both creators and developers.

The fund will utilise legal experts from various law firms, including Cooley LLP, Fenwick & West LLP, Goodwin Procter LLP and Latham & Watkins LLP.

SEC and crypto crackdown

The SEC continues to attract criticism from across crypto and from US lawmakers over its regulation by enforcement approach to crypto.

On Thursday, the regulator announced a settlement with eToro. It included monetary penalty and a cease and desist order that will see the platform delist all crypto tokens except Bitcoin, Ethereum and Bitcoin Cash.

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