Ethereum - Optimisus

Vitalik Buterin said that re-staking Ethereum (ETH) introduces risks that could affect the safety of the network.

12 months ago 1 min read

Vitalik Buterin: Re-staking on Ethereum can be risky and costly

Vitalik Buterin, the co-founder of Ethereum, has urged caution when it comes to re-staking on Ethereum. In a blog post, Buterin said that re-staking introduces risks that could affect the safety of the network. Re-staking is a feature that allows Ethereum validators to secure other chains while still maintaining their stake on Ethereum. This can be a profitable way for validators to earn additional rewards. However, Buterin is worried that re-staking might introduce risks that could affect the safety of the Ethereum network. One of the risks that Buterin is concerned about is that re-staking could lead to a concentration

Alert reports that $849.1 million worth of Bitcoin was moved during the past two days.

12 months ago 1 min read

Whale transfers over $1 billion in Bitcoin, Ethereum, XRP, and Polygon

In a surprising move, some of the biggest players in the crypto market are shifting massive amounts of Bitcoin (BTC), Ethereum (ETH), XRP, and Polygon (MATIC). According to data from the whale-tracking platform Whale Alert, these transactions have taken place during a market dip, indicating that deep-pocketed investors are seizing the opportunity to buy into the market. Whale Alert reports that $849.1 million worth of Bitcoin was moved during the past two days, with the largest transaction being a transfer of 10,000 BTC worth $269.4 million from one unknown wallet to another. Other Bitcoin transactions include transfers to B2C2 and

Ethereum Proves Resilient with Successful Recovery from Performance Issues

12 months ago 1 min read

The Ethereum Network Recovers from Performance Issues

The Ethereum network experienced technical issues, causing the network to stop finalizing blocks for over an hour on Friday. This was the second such incident within 24 hours, raising concerns for users of the second-largest blockchain by market capitalization. However, the network has resumed finalizing blocks, and clients are releasing updates to address the issue, according to Terence.eth, a pseudonymous Ethereum developer. Finalized blocks play a crucial role in providing proof-of-work validation, making networks like Ethereum easy to trust and reliable to use. While Ethereum’s performance issues within the past week could potentially affect its credibility in the eyes of

Interoperability protocol Axelar has facilitated the cross-chain functionality of yield optimization protocol Sommelier by connecting it to Ethereum Layer 2 network Arbitrum One. With the help of Axelar's General Message Passing (GMP) protocol, Sommelier's DeFi vaults, which operate on the Cosmos ecosystem and Ethereum, will now be available on Arbitrum, enabling users to optimize their crypto assets and trade through lending services. Axelar's GMP enables the transmission of data and commands between smart contracts on different chains, allowing cross-chain applications to operate effectively. Previously, in a Series A funding round led by Polychain Capital, Sommelier raised $23 million, which was overseen by former lead developer for Cosmos and Tendermint, Zaki Manian.

1 year ago 1 min read

Axelar Integrates Sommelier DeFi Vaults with Arbitrum Network

Axelar, an interoperability protocol, has enabled Sommelier, a yield optimization protocol on Cosmos, to become a cross-chain application by connecting it with Ethereum Layer 2 network Arbitrum One. Sommelier’s DeFi vaults operate on its blockchain in the Cosmos ecosystem and Ethereum, and now they will be available on Arbitrum One, allowing users to optimize yields on their crypto assets through lending and trading services. This development was made possible with the help of Axelar’s General Message Passing (GMP) protocol, which facilitates communication between the two ecosystems. The protocol enables data and assets to move between the two ecosystems, making it

Phantom Wallet expands its capabilities with Ethereum and Polygon integration

1 year ago 1 min read

Phantom Wallet now supports Ethereum and Polygon

Self-custodial wallet Phantom has made a major announcement, revealing that its mobile app and browser wallets are now simultaneously supporting Ethereum and Polygon networks. This means that users can access a wide range of dApps across the Web3 landscape, including Uniswap, Magic Eden, Aave, OpenSea, and Blur. The popular Solana wallet first announced its support for rival blockchains Ethereum and Polygon in November last year, intending to offer the ability to interact with the three largest blockchains for digital collectibles in one location. Phantom CEO Brandon Millman stated that the company is committed to using its Solana ecosystem expertise to

1 year ago 1 min read

Understanding Ethereum’s Motivation for Upgrading Its Infrastructure

Ethereum is upgrading to improve its performance and capabilities. The most significant upgrade to the Ethereum network is the transition from its current proof-of-work (PoW) consensus mechanism to proof-of-stake (PoS). This upgrade is called Ethereum 2.0, also known as Eth2, and it aims to make the Ethereum network more efficient, secure, and scalable. The PoW consensus mechanism used in the current Ethereum network requires a large amount of computational power and energy consumption to validate transactions and create new blocks. In contrast, the PoS mechanism used in Ethereum 2.0 allows users to participate in the validation of transactions and the

The Merge Reduces Ether Supply by 100,000 Coins

1 year ago 1 min read

100,000 Ether Coins Burned as a Result of The Merge

Since The Merge, Ethereum has seen a decrease in ether supply by over 100,000 coins as the blockchain moves towards a more eco-friendly consensus mechanism. According to ultrasound.money, the total supply of ether has declined by 103,092 coins worth over $200 million in the last 217 days. If Ethereum had remained secured by miners instead of stakers, the ether supply would have increased by over 2.52 million coins, or $4.9 billion, and would have also increased yearly by 3.53%. However, post-Merge Ethereum’s coin supply has reduced by 0.144% per year, with $1.2 billion being removed from the ether supply in

Ethereum Implements New Measures to Tackle Miner Extractable Value (MEV)

1 year ago 2 mins read

Ethereum Implements New Measures to Reduce Miner Extracted Value

Ethereum Foundation researcher Justin Drake and bloXroute Labs CEO Uri Klarman recently appeared on Laura Shin’s podcast to discuss Maximum Extractable Value (MEV) and how it affects Ethereum users. In Ethereum’s new proof-of-stake (PoS) system, MEV is the result of sophisticated participants prioritizing and reordering transactions within new blocks, with validators using decentralized exchanges (DEX) to increase their earnings. Unlike Bitcoin mining pool operators, who are typically the only parties that select and order transactions within a block, there are many parties that select and order transactions within an Ethereum block. Ethereum users broadcast their transactions into Mempools, where they

Elleria Arbitrum Bridge Compromised, Hackers Steal 140+ ETH

1 year ago 1 min read

Over 140 ETH Stolen in Elleria Arbitrum Bridge Attack

In another unfortunate incident for the DeFi space, the popular web3 game Tales of Elleria has fallen victim to a hack resulting in the theft of over 140 ETH, worth approximately $273,000. The game’s team confirmed the attack, which occurred on April 19, and identified the exploit as targeting the Arbitrum bridge contract. The hacker exploited the contract to mint 5 billion ELM tokens and drain the LP, leading to a significant decline in the ELLERIUM (ELM) token’s value. The team has suspended all deposits and withdrawals and has urged players not to buy the ELM token until further notice.

Blockchain Bridge Succumbs to Hackers, Loses Second Largest DeFi Heist of $320M Ether

1 year ago 1 min read

Blockchain Bridge Hacked for $320M in Second Biggest DeFi Attack

Wormhole, one of the largest bridges between Solana and other blockchains, has been hacked for about $320 million, making it the second-largest DeFi hack to date. This comes just days after hackers stole $80 million from the decentralized finance protocol Qubit Finance. Wormhole confirmed the exploit in a tweet on Wednesday evening and stated that it was working to get the network back up as soon as possible. Wormhole is a protocol that allows users to bridge assets across blockchains. It has over $1 billion in total value locked and supports six blockchains, including Terra, Solana, Ethereum, Binance Smart Chain,

Ethereum Holders Sit on Almost $2 Billion in Unstaked Tokens

1 year ago 2 mins read

Almost $2 Billion Worth of Ethereum (ETH) Coins Remain Unstaked

Ethereum ($ETH), the second-largest digital currency by market capitalization, is set to see nearly $2 billion worth of tokens withdrawn from its network as validators wait for their turn to collect rewards earned from securing the network. The withdrawals come after the Shapella hard fork, which went live on Ethereum’s network last week, implementing Ethereum Improvement Proposal (EIP) 4895. The upgrade allows for the withdrawal of staked Ether, which had been locked on the network since the launch of the Beacon Chain, completing Ethereum’s transition to a Proof-of-Stake consensus mechanism. This move is expected to produce short-term price fluctuations as

Binance Users Face Weeks-Long Delays for ETH Withdrawals After Shapella Downtime

1 year ago 1 min read

Binance Announces Delayed ETH Withdrawal Requests Following Shapella Upgrade

On April 13th, cryptocurrency exchange Binance revealed that Ethereum (ETH) withdrawal requests may take several weeks to process. This announcement was made just a day after the Shapella upgrade went live on the Ethereum mainnet. The Shapella upgrade is one of the most highly-anticipated events in the crypto space for 2023. It enables ETH validators to withdraw their locked funds. However, Binance stated its need to set a daily redemption quota for each user due to the Ethereum network’s processing limitations. Binance, the world’s largest crypto exchange by trading volume, announced that its users will be able to redeem their