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Ethereum News Today – August 16, 2020

Ethereum network usage and gas fees may pose a risk to DeFi expansion Not all smart contracts can thrive on the network considering the current fee level The situation might prevent the migration of apps to competing networks Ethereum news today – The total number of network transactions on Ethereum has tripled in 2020. The figure is now identical to what was seen in the all-time high from January 2018. Continue reading Ethereum News Today – August 16, 2020 at Smartereum.

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Ethereum’s Hashrate Surges to a 20-Month High Amid the DeFi Boom

As decentralized finance tokens are continuously posting positive rallies, the world’s second-largest blockchain Ethereum’s network hashrate has skyrocketed. According to the data provided by Etherscan and Glassnode, the hashrate of the Ethereum network has reached a 20-month high. The Rapid DeFi growth boosts Ethereum’s hashrate For over the course of the last few months, the decentralized finance (DeFi) market is growing rapidly. This impressive DeFi growth has boosted the network hashrate of Ethereum. The Ethereum’s network hashrate has climbed high to reach 201,000,000 GH/s. According to the chart shared by Etherscan, the ETH network hashrate has reached this level for…

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The transition to Ethereum 2.0 and its proof-of-stake consensus mechanism is finally underway

  Ethereum developers have launched a “validator launchpad” on the Medalla testnet, according to an announcement made on Monday. The purpose of this will be to inform and educate validators who would be part of the future multi-stage rollout of the network’s prime upgrade.   Ethereum 2 will prove to be a game-changer as it will shift from proof-of-work (PoW) to proof-of-stake (PoS), changing the world’s biggest smart contract platform.   In PoW, miners are responsible for securing transactions through complex hardware. This is then added to a cryptographically secured data block in a series or chain.   On the…

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ETH1.0 to ETH2.0 Mergers Are Already Happening as Final Testnet Draws Closer

Ethereum is on the verge of launching its ETH2.0 testnet in the first week of August and ETH developers are showing great progress for this. The co-founder of Ethereum Vitalik Buterin has shared an update on Ethereum blockchain mergers and says that Ethereum developers are already working on ETH 1.0 to ETH 2.0 mergers. The co-founder shared the tweet of Danny Ryan the lead developer of the project. Work on "the eth1 -> eth2 merge" is already happening. https://t.co/TfErDqcc9B — vitalik.eth (@VitalikButerin) July 23, 2020 As per the screenshot shared by Danny Ryan in the tweet, Ethereum has planned on…

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Ethereum has outperformed Bitcoin in New Active Addresses since the beginning of 2020

Ethereum has witnessed a significant increase in new active addresses as the second-ranked coin has blasted the first-ranked digital coin Bitcoin in terms of having the more number of active addresses as per the data report by the blockchain monitoring firm Messari. Ethereum’s number of active addresses surges high than Bitcoin Since the beginning of the year 2020, the new active addresses have been increasing for Ethereum. According to the data from Messari, the number has surged by approximately 150% during this time and has completely outshined the leading cryptocurrency Bitcoin in this case which witnessed an increase of 50%…

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StableCoin Tether has blacklisted 39 addresses from using USDT

Tether, the issuer of the leading stablecoin USDt, has blacklisted 39 Ethereum addresses since November 2017 that were holding stable coin. According to Philippe Castonguay, who is an Ethereum researcher at Horizon Games, claimed that 24 out of the total 39 addresses that were identified were blacklisted by Tether this year. He also created a dashboard on Dune Analytics that enlists the addresses that Tether blacklisted. The addresses that Tether blacklisted have huge amount of money even up to millions worth of USDt in them combined. The latest one has infact, nearly $1 million worth of tokens in it. Turns…

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