Elastos(ELA)

Over 700,000 transactions have been conducted on the testnet so far, which, however, isn’t extremely large relative to the hype.

The Chairperson of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, is demanding more funds to support his regulatory crusade against cryptocurrencies. Gensler Wants More Money On a March 29 testimony to the House Financial Services Subcommittee for SEC’s fiscal year 2024, chief Gary Gensler demanded more financial support to keep up with the technological advances of the crypto sector. He has demanded that the regulatory body needs a higher functioning budget to crack down effectively on bad actors in the country.He said, “Rapid technological innovation in the financial markets has led to misconduct in emerging and new areas, not least in the crypto space. Addressing this requires new tools, expertise, and resources.” The budget amount of $2.4 billion was first proposed by President Joe Biden for the fiscal year 2024. Agency Spread Thin, Needs Funds: Gensler Gensler claimed that the SEC funds are already spread thin, and the agency requires funding in the amount of $2.4 billion to manage the increasing complexity in the capital markets as introduced by crypto companies. Giving an account of the agency’s functioning, Gensler reported that the Division of Enforcement and Examinations, which consists of a major chunk of the agency’s staff, had received over 35,000 separate tips, complaints, and referrals from whistleblowers in the crypto industry. On top of that, he reported that the Enforcement Division cracked the whip on 750 different cases last year by enforcing actions that brought in $6.4 billion in penalties and fines. Of these 750, thirty actions were related to the crypto industry and brought in $242 million of penalties, indicating a 36% increase over the 22 actions in 2021. SEC’s Crypto Crusade However, his statements at the hearing indicate that, as always, Gensler has approached the fund's appeal by lashing out at the crypto industry and portraying his own agency as the lone “cop on the beat” working against the big bad. His statements indicate that it is an unruly space full of bad actors whose sole aim is to trick funds out of the pockets of honest American citizens. At the budget hearing, Gensler said, “Further, we’ve seen the Wild West of the crypto markets, rife with noncompliance, where investors have put hard-earned assets at risk in a highly speculative asset class.” The SEC has been accused of being extra-judicial when it comes to cryptocurrency. The regulatory body is quite insistent on getting cryptocurrencies declared as securities so that they fall under the SEC’s purview. The agency’s severe action against certain crypto companies without any congressional oversight has drawn the interest of the U.S. House Financial Services Committee, which has recently summoned Gensler to a subcommittee hearing in April. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

As blockchain technology continues to amass hype and interest, several problems still hinder the growth of this new innovation. According to a 2022 CoinGecko publication, over 40% of (3,322 out of the 8,000) cryptocurrencies listed in 2021 are dead. Most blockchain-based projects struggle to create and maintain a transparent token supply/demand structure. And coupled with the cost of maintenance and increasing energy consumption levels, these projects have found environmental and physical sustainability to be almost impossible. Another problem of mass adoption is trust. The recent FTX debacle and preceding events, the Axie Infinity failure, and the Terra/LUNA crash have dispelled trust in blockchain, a system purported to be secure and transparent. While several “community-powered” projects have launched, a few live up to the claim. The current DAO and governance approach incorporated by most projects means wealthier users can buy more tokens to change voting outcomes, eliminating the concept of decentralization. These problems are at the forefront of blockchain mass adoption, making it difficult to achieve. Klaytn, an open-source public blockchain for builders, workers, and players in the metaverse, has identified the ultimate trifecta for global blockchain adoption and is working to achieve it with sustainability, verifiability, and collectiveness. Klaytn Foundation’s Vision for Mass Adoption As part of its long-term vision to drive global adoption, Klaytn introduces a thoroughly crafted 2023 vision map for achieving the mass adoption trifecta. Sustainability The two profound components of a project’s sustainability are—a smart tokenomicsstructure capable of creating inherent value for the ecosystem and a well-grounded tech layer capable of supporting such an ecosystem. In line with these components, Klaytn integrates specific goals. Klaytn’s sound tokenomics and deflationary token model aspirations are stand-out features of this project. For sustainability, this public blockchain platform will continue to reschedule token releases to maintain relevance and initiate realistic targets for the right amount of tokens needed to make $KLAY a genuinely deflationary asset. It will also support activities that will guarantee mid-to-long-term token demand and supply. Taking into account the cost of running a blockchain-based ecosystem, Klaytnproposes an efficient specification for computer instances and data storage. This singular action will help the team manage nodes dexterously while reducing costs in the long run. Additionally, Klaytn will introduce new concepts such as permissionless network configurations, ecosystem treasury optimization, and token circulation monitoring that will effectively oversee the supply of new tokens based on specific criteria gathered from incumbent market conditions. Klaytn will also be on the lookout for infrastructures and services where ownership of $KLAY will guarantee holders access to these features, increasing the utility and transactional value of the token. Through exchange listings and on-chain service offerings, Klaytn hopes to attract more users. To increase the long-term sustainability of $KLAY, Klaytn will regularly burn a percentage of tokens—over 75 million $KLAY has been burned to date, and more are expected in the coming months. The Klaytn team looks to initially burn 5.28 billion (approximately 48% of the current total $KLAY supply) tokens as it seeks to keep $KLAY inherently valuable. Verifiability Trustlessness has proven to be a huge sticking point in the blockchain space. Ensuring verifiability in all situations is essential for improving the transparency of all components related to the operation of a blockchain network. In the spirit of promoting transparency and inclusivity in its governance processes, Klaytn intends to conduct frequent evaluations of community sentiment and develop a robust structure to facilitate efficient decision-making. KIP-81 will be integrated into Klaytn's mainnet, enabling users to conveniently view voting agendas, and monitor voting statuses and results live via the Klaytn Square governance portal. The Klaytn team also looks to open up access to its Governance Council, creating a process for teams interested in becoming GC members to apply directly. Collectiveness A robust ecosystem of developers and users is essential to the success of any blockchain network. This community serves as the backbone of the technology, providing the support, innovation, and governance necessary to drive adoption and ensure the security and integrity of the network. Besides enabling seamless onboarding of developers, Klaytn is integrating new measures to encourage active participation and community involvement. With the aim of providing a hassle-free development environment, Klaytn is set to unveil a suite of ecosystem service tools, including a trustless bridge, developer SDKs that seamlessly integrate with multiple services, and a metaverse package. As a public blockchain for all, Klaytn promises to be a community-powered project where users and developers are essential members. With that vision in mind, Klaytnwill hold regular developer meet-ups to provide direct communication and feedback channels with the Klaytn core development team. As it seeks to build on the spirit of collectivism, Klaytn also looks to establish “Proof of Hodl” communication touchpoints on its governance portal Klaytn Square, providing participants who contribute directly to the Klaytn ecosystem with opportunities to participate in governance and more. Through its meticulously-crafted vision map, Klaytn aims to achieve the trifecta of mass adoption —sustainability, verifiability, and collectiveness—taking a giant step towards driving global adoption and rekindling users’ trust in blockchain projects. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The U.S. and South Korea are seeking the extradition of international crypto fugitive Do Kwon. Kwon, along with another suspect, was arrested last week in Montenegro. The Montenegrin Justice minister Marko Kovac said on Wednesday that the United States and South Korea had requested the extradition of Do Kwon. Kwon is a South Korean national who stands accused on charges of multibillion-dollar fraud related to the collapse of the Terra ecosystem in May 2022. The Terra co-founder was arrested in the Podgorica region of Montenegro last week. Minister Kovac said during a news conference that South Korea and the U.S. have officially requested Kwon and another suspect’s extradition. Kovac added the two suspects were charged in Montenegro with forging documents after they attempted to board a flight to Dubai. Montenegrin authorities charged Kwon and the second suspect – identified as Hon Chang Joon, with forging official documents. Reuters reports Kwon and Joon were found in possession of doctored Costa Rican passports, a second set of Belgian passports, laptops, and other devices. The Multiple Charges Against Do Kwon South Korean authorities charged Kwon in September for violating its Capital Markets Acts and issued a warrant for his arrest. Following investigations by numerous law enforcement agencies and having charges filed against him, the International Criminal Police Organisation, or Interpol, issued a red notice for Kwon. U.S. federal prosecutors indicted Kwon with two counts each of securities fraud, wire fraud, commodities fraud, and conspiracy hours after his arrest. Who Will Get Custody of Kwon? It is unclear who will get custody of Kwon, given that he faces criminal charges in several jurisdictions. Kovac explained that extradition proceedings would only commence after local courts have dealt with the charges against Kwon and Joon for their use of falsified documents. If Kwon and Joon are sentenced for the charges in Montenegro, they would have to serve this out before being extradited. Since more than one country has requested extradition for Kwon, Kovac said the decision ultimately lies with the courts. He explained: In the case when we receive several extradition requests, determining to which state they will be extradited is based on several factors like the severity of the committed criminal offense, the location and the time when the criminal offense has been committed, the order in which we have received the request for extradition and several other factors. A local court in Podgorica placed Kwon and Joon in a 30-day pre-trial detention. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Do Kwon's associate- Daniel Shin - reportedly visited a South Korean court to answer key questions related to the Terra failure.

Buried in a mountain of charges from the Justice Department, Former FTX CEO Sam Bankman-Fried (SBF) is reportedly paying his legal fees with money gifted to his father that was initially borrowed from his trading firm, Alameda Research.  The multi-million dollar revelation comes after Bankman-Fried claimed in late November that he had just $100,000 left […]

The ARB airdrop followed the sell-the-news narrative, but Arbitrum's Dapp use and fundamentals remain strong and smart money continues to buy ARB tokens.

Do Kwon may have to serve time in Montenegro if convicted of charges related to forged identification documents before any extradition to the U.S. or South Korea is granted.

Detroit, USA, 29th March, 2023, ChainwireForging a new path for musicians to use Web3 technologies, the video offers a glimpse into Royce’s new virtual world, the Heaven Experience. "Signs" is the first song released from Royce's New EP "The Heaven Experience: Lost Sessions," available Friday, March 31.In advance of his March 31 release of The Heaven Experience: Lost Sessions, platinum-selling, GRAMMY®-nominated rapper Royce 5'9" has dropped the video for “SIGNS,” the first offering from his new EP. Created with Web3 platform Passage, the video gives fans a sneak peek into the Heaven Experience, Royce’s new virtual world for fans and community.Watch the “Signs” video here.Forging a path for musicians and creators to use Web3 technologies, the video for the high-energy freestyle is built inside an immersive virtual world. In partnership with Passage, the Heaven Experience will offer exclusive opportunities to connect with Royce 5’9” throughout 2023.Of the initiative, Royce 5'9" says, "I have been searching for a better way to connect with my community for a while, but existing platforms haven't lived up to my expectations. Passage delivers on all fronts.”Heaven Experience pass holders will benefit from connecting directly to Royce and his team, real-time engagement with the community and artists, and access to exclusive songs, performances, interviews, events, apparel, and more. Passes for the Heaven Experience will be available on April 4.With the Heaven Experience, Royce 5’9” has doubled down on his commitment to Web3 and community, offering a unique, immersive space to authentically engage with fans. The initiative follows a successful 60-second sell-out of his first NFT offering, which gave fans a percentage of streaming royalties from the critically acclaimed single, “Caterpillar,” ft. Eminem and King Green.By allowing creators to connect directly with their audience in immersive, custom 3D virtual settings, Passage is empowering artists and brands to forge deeper relationships with their supporters and engage in ways that aren’t possible with existing social platforms.Fans interested in joining the Heaven Experience can join the waitlist at heavenexperience.com.Dropping March 31, The Heaven Experience: Lost Sessions EP can be found across all streaming platforms and on sale on iTunes through Heaven Studios Inc. in partnership with The Orchard.Royce 5’9” and Lex Avellino, Passage founder & CMO, are available for interview upon request.About Royce da 5’9”GRAMMY® award-nominated Royce 5'9" has balanced substance and style with the best in music. In addition to selling millions of records with a remarkable solo career, Royce co-founded Bad Meets Evil (with Eminem), Slaughterhouse (with Joe Budden, Joell Ortiz, and Kxng Crooked), and PRhyme (with DJ Premier). Known for confident wordplay, revealing accounts of life in Detroit, and holding Rap peers accountable, Royce is among Hip-Hop's most trusted brands. With a cult following earned by professional accolades in his career, Ryan Montgomery's pedigree is never a question. Instead, through recent releases, including the #1 album Layers (2016), Top 10 and critically acclaimed album The Book Of Ryan (2018), and the thought-provoking GRAMMY® award-nominated Allegory (2019), Royce has been a leader of culture. Once the self-proclaimed "best-kept secret" of Rap, having written award-nominated songs for many artists, this platinum-selling, list-topping MC consistently earns accolades. Partnering with Jay-Z and Roc Nation with the NFL for its "Inspire Change" initiative, Royce 5'9" has gone on to be one of hip hop's leading activists, recently launching his Ryan Montgomery Foundation and its mission to empower underprivileged communities through advocacy, education, and personal enrichment, and joining long-time friend Eminem as the Director of Community Engagement and Social Justice Initiatives for The Marshall Mathers Foundation. For more information, visit royce59.com.About PassagePassage, is a world builder and social layer for connecting physical and digital experiences. Built on Cosmos, Passage is blockchain agnostic and offers a suite of tools to make the Metaverse more accessible: in-browser streaming, cross-world commerce for fungible tokens and NFTs, and 3D communication infrastructure. The Passage ecosystem is fueled by PASG, the native utility token used in Passage worlds. For more information, visit passage.io.ContactsChief of StaffBryana [email protected] & FounderTresa [email protected]

DeFi project Safemoon has announced that its liquidity pool has been compromised, according to a statement on its official Twitter handle. So far, the amount of funds stolen due to the exploit remains unknown. Liquidity Pool Compromised Safemoon stated that it is taking steps to resolve the matter. However, details around the issue remain sketchy at best. “We are taking swift action in an attempt to resolve the issue as soon as possible. Follow here for updates. Thank you for your support as we work to address this situation.” CEO John Karony retweeted the same statement but has not commented further. Safepool is a Metaverse, blockchain, NFT, and Web 3.0 building and innovation ecosystem. However, the company has been at the center of several controversies since its launch in March 2021. The Bug In Question While Safemoon has remained mum about the incident, several others have commented on the developments. Security firm PeckShield has stated that an update to a contract introduced a burn bug that allowed anyone to destroy tokens. PeckShield stated that the upgrade looked to be initiated by a deployer contract, making it possible that there was an admin key leak. However, the firm could not state how much crypto, if any, has been compromised. “Hi @safemoon, The upgrade, with the exploited public burn bug, was initiated by the official SafeMoon: Deployer. (Admin key leak?).” Meanwhile, Web 3.0 developer DeFi mark stated that SafeMoon was hacked for $8.9 million, adding that he was able to identify an obvious exploit. The public burn function allows users to burn tokens from any other address. The attacker exploited this function to remove SFM tokens from the SafeMoon WBNB Liquidity Pool, artificially inflating the price of the native token. Attacker Reaches Out Following the news of the exploit, the protocol’s native SFM token tanked, dropping as much as 30%. However, barely hours after the exploit, the attackers in question responded to a message in the transaction thread, seemingly suggesting that they were willing to return the funds to Safemoon, which indeed they did. Data from Peckshield showed that the attackers had sent 4000 BNB tokens worth $1.2 million. “Hey, relax. We are accidentally frontrun an attack against you. We would like to return the fund, set up a secure communication channel, lets talk.” Controversy’s Child The attack and subsequent compromise could not have come at a worse time for Safemoon, which had recently been promoting its security offering, Orbital Shield. While the exploit is not related to this product, it does not really inspire confidence in the project’s security products. The protocol has been dogged by controversy since its inception in 2021. In 2022, the protocol came under heavy criticism from YouTuber Coffeezilla, who stated that the project’s former CEO, known only as Kyle, had committed fraud. He also alleged that the current CEO had stolen from his own project. The protocol has also been the subject of a number of class action lawsuits, further damaging its reputation. The lawsuits have accused the project of being a pump-and-dump scheme and is in violation of several securities laws. The SFM token saw a considerable surge when one of the lawsuits was dropped. However, that gain proved to be very short-lived. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The cryptocurrency industry has undoubtedly had a rocky few years. From high-profile scams to market crashes and regulatory hurdles, the industry has faced numerous setbacks that have shaken the confidence of even the most ardent crypto idealists. The "idealist" crypto projects and platforms can help unlock practical value. Adhering to core principles, such as decentralization, user control, and being verifiable, is essential to make a lasting industry impact. Those approaches introduce many new hurdles and challenges, but the following platforms continue innovating and pushing the industry forward - keeping crypto idealism alive. Theta Network (Decentralized Video Streaming) The decentralized video delivery network aims to disrupt the traditional video streaming industry. It uses blockchain technology to create a peer-to-peer network of users sharing video content, reducing the need for centralized servers and cutting costs. Theta Network also rewards users who contribute their computing resources to the network with Theta tokens, which can be used to access premium content and services on the platform. Theta Network has partnered with some of the biggest names in the video streaming industry, including Samsung, Google, and MGM Studios. As a result, it has a growing user base of millions of users worldwide. In addition, the platform's unique approach to video delivery has earned it praise from industry experts, and it has the potential to disrupt the traditional video streaming industry in a significant way. Nimiq (Crypto For Everyone) Nimiq is a decentralized cryptocurrency project that aims to make cryptocurrency accessible to everyone through a user-friendly and easy-to-use platform. A crucial boon of Nimiq is its focus on usability and accessibility, which makes it ideal for new users looking to enter the cryptocurrency world. That approach has given birth to various tools and infrastructure solutions to enable mass cryptocurrency adoption. A core benefit of Nimiq is its fast transaction times. Nimiq uses a unique consensus algorithm called Albatross, which allows for near-instant transactions. That is a significant advantage compared to other cryptocurrencies, which may take several minutes or even hours to confirm transactions. In essence, Nimiq is a decentralized payment solution with a native blockchain. Its team aims to usher in a global monetary system without intermediaries. In addition, its solution is non-discriminatory, secure, cheap, eco-friendly, and collaborative. It also removes concerns over market volatility, technical expertise requirements, and clunky interfaces. Cardano (Blockchain Infrastructure) Another platform that crypto idealists should keep their eye on is Cardano. Founded by Charles Hoskinson, one of the original co-founders of Ethereum, Cardano aims to create a more sustainable and scalable blockchain platform than its predecessors. Unlike other blockchain platforms that use proof-of-work algorithms to verify transactions, Cardano uses a more energy-efficient and scalable proof-of-stake consensus mechanism. Cardano also aims to provide greater security and transparency than other blockchain platforms by separating its transaction validation and computation processes into two separate layers. This approach allows for greater flexibility and efficiency and makes it easier to update the platform over time. Cardano's commitment to sustainability, scalability, and security has earned it a loyal following among crypto enthusiasts, and it has already established partnerships with several major companies and organizations. Lens Protocol (Decentralized Social Media) Lens Protocol is a decentralized platform built on the Polygon blockchain that allows users to create, trade, and manage synthetic assets. These synthetic assets are created by mirroring the value of other assets, such as commodities, stocks, and fiat currencies. It allows users to gain exposure to the underlying asset without owning it. The Lens Protocol platform is powered by smart contracts that ensure the accuracy and transparency of each transaction. Users can create synthetic assets or invest in existing ones called lenses. Each lens is backed by collateral, which is held in a smart contract, and the underlying asset's value determines its value. When a user invests in a lens, they receive a corresponding amount of synthetic tokens, which can be traded or redeemed for the underlying asset at any time. The Lens Protocol platform also includes a governance system that allows users to vote on proposals related to the platform's development and management. That gives users a say in how the platform operates and ensures it remains community-driven and decentralized. Overall, Lens Protocol provides a flexible and efficient way for users to gain exposure to a wide range of assets while leveraging the security and speed of the Polygon blockchain. To conclude, there is still a lot of activity in the cryptocurrency and blockchain space. While the overarching market momentum may remain volatile, builders put their best foot forward to unlock a brighter future. The projects outlined above showcase the building blocks users can experiment with today and in the future. Moreover, the varied approach by developers to explore different concepts - video streaming, social media, and making crypto more accessible - confirms the evolution of overall infrastructure. There is much more potential to unlock in the industry, as a decentralized web is inevitable at this point. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The participating banks, however, express their readiness to proceed with the CBDC pilot.

Circle has announced that the USDC stablecoin will be launching in the Cosmos ecosystem through its partnership with the Noble network. The launch will make USDC available to all Cosmos IBC blockchains. USDC Comes To Cosmos Soon after making its way out of stealth, Noble Protocol has announced that it has entered into a partnership that will bring USDC natively to the Cosmos ecosystem. The news was announced by Circle, the issuer of the stablecoin, in a Twitter post, "We're excited to bring USDC to @Cosmos! USDC is expected to launch on @noble_xyz soon; stay tuned for details. #IBC" Noble Protocol also made its own announcement on Twitter, although no specific timeline or date for USDC's launch on Cosmos has been shared. "This is a huge moment for our ecosystem. @Cosmos has never had a native, fiat-backed stablecoin that is highly liquid & fully collateralized. For the first time in @Cosmos history, 50+ IBC-enabled blockchains (& counting!) will soon be able to access USDC natively via IBC." However, both Circle and Noble have asked users to "stay tuned." USDC is currently the second-largest stablecoin in the crypto space behind Tether and plays a crucial role in several decentralized finance (DeFi) projects. It is also used as collateral for lending and borrowing and generates yield thanks to its stability and dollar peg. While the stablecoin went through some volatility following the collapse of Silvergate Bank and Silicon Valley Bank, it has regained its dollar peg. First Native Stablecoin Cosmos is an interconnected web of blockchains that utilize the Tendermint Byzantine fault-tolerance protocol, Application Blockchain Interface, and Cosmos Software Development Kit. The Noble team stated that following the launch, USDC will be the first native, fiat-backed stablecoin on the Cosmos Inter-Blockchain Communication protocol. The team believes that introducing the highly liquid and fiat-backed USDC stablecoin would solve several challenges users face on Cosmos face when they try to bridge assets between different networks. The team explained, "This integration will catalyze hundreds of millions of dollars in liquidity over the coming months in Cosmos and will seek to rectify the challenges that users and appchains face when interacting with bridged assets sourced from other ecosystems. […] Every blockchain needs a canonical and fungible version of USDC, and Noble exists to fulfill this critical need." Currently, users on Cosmos can only access major stablecoins through bridge protocols such as Axelar and Gravity. With the introduction of USDC, DeFi protocols in the ecosystem will have a single stablecoin to turn to, and Noble hopes this could inject new liquidity into the ecosystem. CEO of Noble, Jelena Djuric, stated, "It's also for the users themselves to have a seamless process of accessing native assets in the ecosystem. At the end of the day, we're seeking to rectify the challenges that users and app chains face when interacting with bridge assets." Cosmos has seen a flurry of activity in recent months. In January, Injective Protocol launched a $150 million fund to promote further user adoption of the Cosmos ecosystem. The fund was backed by the likes of Jump Crypto, Pantera Capital, and others known for investing in blockchain projects. February saw the allocation of $40 million by the Cosmos Interchain Foundation to promote the development of core infrastructure and applications for the Cosmos ecosystem. Circle's Plans For Cosmos Circle had first stated its intention to launch USDC on Cosmos as early as September of last year. Furthermore, the decision to launch USDC on Cosmos is also linked to the fact that the lending protocol dYdX will soon be moving from Ethereum to the Cosmos IBC. Djuric added, "We're very much doing this in preparation for dYdX's launch. We see this as a huge moment for the Cosmos and the app chain thesis because this is a project that has already got a lot of success on Ethereum." Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

A Delaware bankruptcy judge approved the sale of the bankrupt company’s assets to Abu Dhabi’s investment arm.

Developers on Ethereum have announced that the Shapella upgrade will take place on the 12th of April, 2023. The upgrade will take effect at epoch 194,048, coming as a relief for validators on the platform. Withdrawals Incoming The Shappella hard fork will come as a huge relief to Proof-of-Stake validators, who will finally be able to withdraw their ETH from the platform. The fork, scheduled for the 23rd of April, will enable withdrawals through the Ethereum Improvement Proposal (EIP) 4895. Once implemented, this will push staked Ether from the Beacon Chain to the Ethereum Virtual Machine (EVM), also known as the execution layer. Ethereum core developer Tim Beiko announced the news on Twitter, stating, “It’s happening Shapella is scheduled on mainnet for epoch 194048, scheduled for 22:27:35 UTC on the 12th of April, 2023. Client releases compatible with the upgrade are listed in the announcement below.” The time, slot, and epoch for the upgrade were confirmed after lengthy deliberations and discussions between members of the Ethereum Foundation, led by Beiko. The hard fork will finally enable the partial and complete withdrawal of ETH. However, several mechanisms have been put in place to ensure that a flood of unlocked ETH does not end up disturbing the market dynamics. Currently, there are around 17.81 million ETH staked on the beacon chain. At current prices, around $31.6 billion worth of ETH can be unlocked over time. Successful Deployment On Goerli And Sepolia Testnets The announcement comes after Ethereum developers successfully deployed the Shapella fork on the Goerli and Sepolia testnets. While the Ethereum Foundation had stated that the last test run on the Goerli testnet was smooth, there was a delay in activation time thanks to some validators not updating their client software on time. However, Beiko stated that this would not be an issue this time around. The upgrade combines changes to the Shanghai Ethereum Virtual Machine, also known as Shanghai, and the consensus layer, Capella. It has also changed to the engine API linking the two layers bundled in it. Apart from enabling withdrawals, the Shapella upgrade also implements several other Ethereum Improvement Proposals, such as EIP-3855, EIP-3651, EIP-3860, EIP-4895m, and EIP-6049. EIPs are standards that add or designate new features and processes for Ethereum. Before the Shapella upgrade, validators had to lock 32 ETH in a smart contract on the Beacon Chain to be able to earn rewards. Previous Hard Forks Ethereum has gone through a long list of hard forks, with the latest Shapella touted as one of the most significant to date since the Merge. The Merge saw Ethereum finally make the transition from the energy-hungry Proof-of-Work consensus mechanism to Proof-of-Stake. Before the Merge, we saw the London hard fork that saw the introduction of EIP-1559. EIP-1559 introduced a base fee for users instead of the price auction method. Validators still receive a block reward and tip. However, the base fee is burned and is intended to make ETH deflationary over time. Before EIP-1559, there was Berlin, which helped optimize gas costs for specific EVM actions, while the Beacon Chain Genesis saw the first block produced on the Proof-of-Stake chain on the 1st of December 2020. Lastly, Istanbul, implemented in 2019, helped improve resilience against denial-of-service attacks, along with making SNARKs and STARKs-based layer-2 solutions more performant. Additionally, the Ethereum Foundation also announced that it would be doubling rewards for any bugs found in the Shapella source code. However, while the Shapella hard fork marks a significant milestone in Ethereum’s journey, the protocol still suffers from low transaction throughput. Data from Blockchair has shown that Ethereum’s transaction speed currently stands at 10 transactions per second. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

2023 has already seen the Securities and Exchange Commission (SEC) swinging into enforcement action within the crypto space. With Q1 2023 almost over, the SEC has charged several individuals and crypto companies over crypto asset securities-related offences. In a March 22, 2023 press release, the SEC announced that it had charged Justin Sun and three […]

BTC/USD Bears Eyeing 26139: Sally Ho’s Technical Analysis – 29 March 2023 Bitcoin (BTC/USD) awaited fresh technical guidance early in the Asian session as the pair traded around the 27000 figure after trading as low as the 26640 area before once again testing the 27182 area, a downside price objective associated with selling pressure around the 28555 level. If recent selling pressure continues and the recent low of 26525 is absorbed, BTC/USD may test additional downside price objectives including the 26139, 25478, 24661, and 23340 levels. During the ongoing pullback, Stops were elected below the 27252.39 area, a downside price objective related to selling pressure around the 28839.68 and 28500 levels. Technical trading activity was also evident when BTC/USD was recently supported around the 26678.16 level during the depreciation, a test of the 23.6% retracement of the recent appreciating range from 19568.52 to 28937.73. Following the recent appreciation, upside price objectives include the 29244.66, 29639.37, 30127.80, 30275.12, 30763.09, and 31477.37 levels. Following the ongoing appreciation, retracement levels and areas of potential technical support include the 25948, 25756, 25358, 24253, 24099, 23789, 23147, 22605, and 22198 levels. Below current price activity, downside price objectives include the 19266, 19132, 19106, 19006, 18981, 18919, 18822, 18116, 17720, 17523, 17457, 17230, and 17196 areas. Traders areobservingthat the50-bar MA (4-hourly)isbullishly indicating above the 100-bar MA (4-hourly)andabove the200-bar MA (4-hourly). Also, the 50-bar MA (hourly) is bearishly indicating below the 100-bar MA (hourly) and below the 200-bar MA (hourly). Price activity is nearest the100-bar MA(4-hourly) at 26015.26 and the50-bar MA(Hourly) at 27466.73. Technical Supportis expected around25256.83/ 24224.60/ 21753.70 withStopsexpected below. Technical Resistanceis expected around29244.66/ 29639.37/ 30127.80 withStopsexpected above. On4-Hourlychart,SlowKis Bearishly below SlowDwhileMACDis Bearishly below MACDAverage. On60-minutechart,SlowKis Bullishly above SlowDwhileMACDisBullishly above MACDAverage. Disclaimer: Sally Ho’s Technical Analysis is provided by a third party, and for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

ERC20 tokens are tokens built on the Ethereum blockchain and are standardized to ensure they are compatible with the Ethereum network. This means they can be easily integrated with other Ethereum-based applications, making them highly versatile and easy to use. But why do so many projects choose to release their tokens on the Ethereum blockchain? Well, Ethereum is one of the most popular blockchain platforms in the world, offering developers a wide range of benefits. For starters, it allows for creating smart contracts, self-executing contracts that can automate complex business processes. Additionally, Ethereum has a large and active developer community, so new tools and features are constantly added to the platform. If you're looking to invest in ERC20 tokens in 2023, then you'll want to keep an eye on some of the top projects in the space. In this article, we'll take a look at the top 8 ERC20 tokens to invest in this year. From DigiToads to Calvaria, each of these projects has something unique and is definitely worth considering for your portfolio. 1. DigiToads DigiToads is a new play-to-earn token with a toad-themed ecosystem designed to increase the passive income-earning potential of token holders. Developing a Web3 game where players can purchase, collect, and train toad NFTs as pets is one of the most exciting aspects of DigiToads. These toads can be used in battle and to climb the leaderboard rankings in exchange for the game's native currency, TOADS. At the end of each gaming season, half of the total prize pool, collected from in-game item sales, is distributed proportionally to the top 25 percent of players. Even if players don't finish in the top 25%, they still get 10% of the total prize pool. Additionally, 2% of each TOADS sale is dedicated to the staking pool, implying that players who stake their NFTs are eligible for large payouts. Notably, DigiToads are automatically burned at a rate of 2% of all TOADS transactions, resulting in a decreasing supply and increased potential for long-term appreciation for those who hold it. DigiToads presale has already raised over $340K in two weeks, so the project is truly about to make a revolution in the blockchain gaming industry. For More Information on DigiToads: Visit The Website: https://digitoads.world Join The Community: Linktr.ee/digitoads 2. ApeCoin ApeCoin is a relatively new ERC20 token developed by Yuga Labs, the creator of the Bored Ape Yacht Club and Mutant Ape Yacht Club non-fungible token (NFT) collections. APE is a governance and utility token used as the primary token in Web3 for art, gaming, entertainment, and events. Bored Apes, a collection of 10,000 unique digital artworks, has become a trademark of ApeCoin. ApeCoin is a decentralized autonomous organization (DAO) whose governance and management are handled by token holders. Therefore, all ApeCoin holders have the opportunity to join the ApeCoin DAO and have a say in how the Ecosystem Fund is distributed, as well as other governance rules, projects, and partnerships. The Ape Improvement Proposal (AIP) Process provides a methodical framework for community members to submit proposals in one of three broad categories: Core, Process, or Informational. 3. Decentraland Decentraland is a widely used metaverse platform that allows for digital advertising for blockchain-friendly brands and play-to-earn crypto games like ICE poker, virtual concerts, and more. Users can buy, sell, and manage virtual reality applications on this platform, encouraging more developers and operators to join the project's global network. The platform's original token, MANA, can be used to purchase LAND. LAND is a non-fungible digital asset stored in an Ethereum smart contract. The MANA currency serves many purposes beyond just facilitating avatar comparisons. In this online environment, users can buy land to construct, explore, and run their own businesses. 4. Uniswap Uniswap is an Ethereum-based protocol for executing decentralized exchanges. It allows users to trade any ERC-20 token without a central intermediary. Launched in November 2018, Uniswapis based on the Ethereum platform and takes advantage of its smart contracts, which carry out actions automatically once certain criteria are met. Since the protocol is freely available, anyone can use it to start new markets or participate in existing ones. The Uniswap protocol relies fundamentally on an AMM structure to facilitate trades. Instead of an order book, this model uses a mathematical algorithm to establish the value of tokens. Traders who contribute liquidity to the protocol do so by placing an equal number of two tokens into a liquidity pool, from which they receive liquidity pool tokens representing a proportional allocation of the pool's total value. In exchange for trading or holding these tokens, users gain access to a proportion of the protocol's transaction fees. 5. Maker Using the Ethereum blockchain, Maker (MKR) operates as a DAO to oversee the Maker Protocol. Dai is a stablecoin whose value is pegged to the US dollar, and it can be created on the Maker protocol, a decentralized lending platform. Using the Maker Protocol, borrowers can secure Ethereum as collateral and borrow Dai at a predetermined collateralization ratio. The system is set up to keep the value of a Dai at 1 USD at all times. MKR is the Maker protocol's token of governance. Holders of MKR can vote on proposed amendments to the protocol, such as the addition or deletion of collateral types and adjustments to the risk parameters. When the collateral value drops below the required collateralization ratio, auctions of unsecured debt are triggered, and MKR holders must participate in keeping the system stable. One of its most notable features is the Maker protocol's flexibility in accepting cryptocurrency, fiat currency, and even other stablecoins as collateral. This ensures that there are no central points of failure in the protocol and that it can continue to operate independently. All transactions and balances in Maker are public and auditable via the blockchain, adding to the protocol's credibility. 6. Yearn Finance Yearn Finance is a DeFi yield farming platform focused on helping its users maximize their cryptocurrency investment returns. Yearn Finance allows owners of ERC20 tokens to either lend out their tokens at potentially high-interest rates or stake them on the blockchain of a given project in exchange for rewards. The Yearn Finance token (YFI) is an ERC20 token unique to the platform. Its primary function is a governance token that entitles token holders to a say in which future projects the platform will support. YFI token holders are also eligible for a cut of the company's profits. A portion of the fees paid by Yean Finance users is allocated to managing the investments delivered to YFI token holders. 7. Dash 2 Trade Dash2Trade, a novel social trading and analytics tool, is another ERC20 token that deserves your attention. Its goal is to arm users with all the data they need to make educated decisions in the cryptocurrency market. Social trading, listing alerts, market news, on-chain analytics, and automated trading tools are just some of the platform's many features. Dash2Trade's native D2T token is what makes the platform work. D2T uses the Ethereum blockchain and has a maximum supply of 1 billion coins. 8. Calvaria Last but not least, we have Calvaria, an innovative crypto-card game. It is the traditional play-to-earn that allows users to earn money by competing against other users. The goal is to create a game that can bridge the gap between the "real world" and the crypto world, making it fun and approachable, and accessible on iPhone, Android, and PC. $RIA will be utilized to support the entire gaming ecosystem and awarded to tournament winners. The tokens are tradable on marketplaces and can be used to purchase virtual goods such as NFT cards. Players will also be rewarded with $eRIA (earned ria) tokens for their time and effort in the game. The $eRIA token will have utility and value in and out of the crypto community. Final Takeaway Investing in ERC20 tokens can be smart for those looking to diversify their cryptocurrency portfolios. With the wide range of benefits, the Ethereum blockchain offers, it's no surprise that many projects choose to release their tokens on this platform. The top 8 ERC20 tokens mentioned in the article offer unique features and growth potential, so diversify your portfolio and maximize your returns in the long term. To purchase DigiToads visit: https://digitoads.worldTo purchase the other tokens on this list head over to eToro or any major crypto exchange Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

Shares of rival crypto exchange Coinbase fell by the most since Wednesday.