Galaxy Digital published a report stating that Ethereum’s decentralized governance is coordinated by off-chain voting rather than on-chain Ether holder voting.Christine Kim, vice president of Galaxy Digital’s research team, released a report on June 3. This report reveals the various stakeholders who hold the core of Ethereum governance.According to the report, groups collaborating on the off-chain process include client teams, validator node operators, the Ethereum Foundation (EF), and decentralized application (DApp) developers.Cointelegraph reached out to Galaxy Digital for comment, but received no response by press time.Client team and validator node operatorsAccording to the report, customer teams are central to decision-making,…
Author: Crypto Flexs
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Although truly solving blockchain scalability fundamentally, that is to say figuring out a solution to the problem that every node must process every transaction, is a very hard problem, and all suggested solutions rely on either highly advanced cryptography or intricate multi-blockchain architectures, partial solutions that provide a constant-factor improvement over the way Bitcoin does things are actually quite easy to find. In Ethereum, for example, we have the concept of a separate state tree and transaction history, allowing miners to easily store only existing account states and not historical transaction outputs that are no longer relevant and thereby drastically…
Ark Labs launched a company on Tuesday dedicated to developing a new Bitcoin Layer 2 payment network based on the Ark protocol.Ark Labs said the Lightning Network, a second-layer solution for payment channels built on top of the Bitcoin blockchain, has helped deliver faster and cheaper payments, but the need to manage channels and liquidity has led many users to opt for managed Lightning. He claims that he chose the wallet. , trading control of your funds for your convenience.First proposed in 2023, the Ark protocol represents a Bitcoin Layer 2 scaling solution that works alongside the Lightning Network and…
May was an important month for VeChain. This is because the platform has achieved important milestones, garnered significant attention from supporters, and made positive progress across a variety of industries. Among these advancements, the integration of Near Field Communication (NFC) technology into VeChain has significantly improved user satisfaction and versatility in various applications. At UFC 302, VeChain demonstrated one of the most important applications of this brilliant and innovative advancement by integrating NFC chips into fighter gloves. This cutting-edge addition will also be featured at UFC 303, expected to fuel the highly anticipated clash between Conor McGregor and Michael Chandler.…
Victoria, Seychelles, June 4, 2024, Chainwire Bitget Wallet, a leading Web3 wallet and full-stack DeFi platform, recently added support for the Taiko mainnet, introducing a dedicated Taiko DApp section within the wallet’s DApp browser. Under this partnership, users will now have direct and quick access to the Taiko mainnet through the mobile and browser extension versions of Bitget Wallet, making it easy to add tokens, transfer and connect to DApps. As a layer 2 rollup leveraging Ethereum’s block validators for transaction ordering, Taiko adopts the reliability and security of the Ethereum network. The launch of Taiko’s own token, TKO, is…
Binance, a leading cryptocurrency exchange, has announced important updates to its Managed Sub-Account (MSA) feature, which will take effect from July 1, 2024. According to Binance, these changes aim to ensure optimal user experience and maintain platform efficiency.Main ContentThe update introduces several new regulations and fees for MSAs, which are sub-accounts managed by the trading team under the master account. Here are the highlights:Minimum Asset Requirements: Each MSA must maintain an asset account balance of at least 100,000 USD at all times.Rebates and discounts excluded: MSAs are not eligible for Liquidity Provider Program rebates and…
Core Scientific, one of the largest US Bitcoin mining companies, is betting on artificial intelligence (AI) amid recent issues related to the BTC halving.Core Scientific announced a $3.5 billion deal with AI cloud provider CoreWeave on June 3 via X. As part of the agreement, Core Scientific will provide an additional 200 MW of infrastructure to host CoreWeave’s high-performance computing (HPC) operations.According to the release, the transaction is expected to generate total cumulative revenue for Core Scientific of more than $3.5 billion over the initial 12-year term of the agreement. The expected average annual revenue from the contract is expected…
Disclosure: This article does not represent investment advice. The content and materials presented on this page are for educational purposes only. Solana’s rapidly expanding ecosystem, Pepe’s deflationary token economics, and Rebel Satoshi Arcade’s GameFi and NFT integration make it a top altcoin to watch. The cryptocurrency market could see a bit of a green streak this year as well. However, it is far from a full-fledged bull market where prices surge for several weeks. This period is fast approaching and the altcoins to watch are none other than Solana (SOL), Pepe (PEPE), and Rebel Satoshi Arcade (RECQ). Choosing an altcoin…
Chief Financial Officer (CFO) of a News Media Epoch Times Arrested and charged with involvement in a $67 million money laundering scheme involving cryptocurrency.Bill Guan was charged with conspiracy to commit money laundering and two counts of bank fraud for allegedly participating in a “transnational scheme” to launder $67 million, according to a news release from the U.S. Attorney’s Office for the Southern District of New York. Funds obtained illegally.Guan is accused of orchestrating a conspiracy to: Epoch TimesThe ‘Make Money Online’ team used millions of dollars in cryptocurrency to purchase illicit funds, including ‘fraudulently obtained insurance benefit proceeds’ loaded…
The memecoin renaissance is in full swing. Over the past month, we’ve seen a lot of meme-driven news. Roaring Kitty, the face of the 2021 meme stock rally, is back in X. Pump.fun, a Memecoin launchpad, was exploited for $1.9 million by a former employee. The face of Dogecoin, Shiba Inu Kabos, has passed away. Cryptocurrency markets in general have been buoyed by the surprise approval of the Ethereum ETF 19b-4 spot approval and excitement over more optimistic inflation data coming out of the US this month. But if you zoom in on just the past week, you can see…