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Blockchain and Booze: The future of DeFi on Ethereum is now

While the world waits for Ethereum 2.0, trailblazing developers are taking matters into their own hands with innovative solutions. On the latest episode of Blockchain and Booze, Draper Gorem Holm’s Adam Levy sits down with three leaders in the blockchain industry to talk about layer-two solutions on the Ethereum network. Levy is joined by Stani Kulechov of Aave, Jack O’Holleran of Skale and Antonio Juliano of dYdX. What began as a discussion on high fees quickly transitioned into a greater commentary on the potential power of decentralized finance. The Ethereum conundrum For those not familiar with the Ethereum situation, it’s…

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wNews: Bitcoin “Threatens” the Dollar, Says Peter Thiel

This week’s wNews digs into Peter Thiel’s recent comments surrounding Bitcoin’s threat to the U.S. dollar and how this plays into China’s hands.  Thiel has often made headlines throughout his career. A master of the inflammatory soundbite, the PayPal founder again took the media industry by storm. During a roundtable discussion at the Richard Nixon Seminar, he and others discussed Big Tech and China as the two were related to American national security matters.  A notable Bitcoin advocate, Thiel also described the leading digital asset as a “financial weapon” that China could use against the great red, white, and blue.…

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DeFi Major Aave (AAVE) to Build on Polygon’s Scalable Layer 2 Platform

The decentralized lending platform built on the Ethereum blockchain, Aave says that it will scale its DeFi platform beyond its blockchain by joining several sidechains, including Polygon.  Aave Addresses Transaction Fees Block space supply today is scarce and limited, leading to the massive expansion of assets on the Ethereum blockchain. Since the “DeFi Summer” of Read More

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Synthetix Launches Staking on Optimistic Ethereum

Synthetix doubles down on Layer 2.  Synthetix Integrates Optimistic Ethereum  Synthetix staking is now compatible with Optimistic Ethereum.  Synthetix announced the update in a blog post, pointing out the improved user experience and expanded features that the Staking product offers over its Mintr tool (Mintr was previously the only way to stake on Layer 2).  The essential DeFi project, known as a liquidity protocol for synthetic assets, has been running on Optimism’s testnet for several months. Optimism is hoping to make Ethereum more scalable by leveraging Optimistic Rollups, a type of Layer 2 solution that uses a sidechain to send…

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Ethereum Scaling Solution Optimism Delays Launch to July

Optimism has delayed its launch date until July. Optimism had originally planned to go live this month. Optimism “Adversaries” Delay Launch In a blog post titled “Optimistically Cautious,” the team wrote that they had set a “rough estimate” for launching in July.  In February, the team announced that it had taken on several new hires after closing a funding round led by a16z. The expansion, they said, would allow them to launch on mainnet in March (before that, March was slated for the public testnet).  Now, the team has cited the potential risks of rushing a launch as a reason…

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Microsoft Announces Completion Of ION V1 And Launch On Bitcoin Mainnet

Microsoft has launched its open-source, Layer 2 decentralized identification solution ION on top of Bitcoin mainnet. Microsoft has announced the completion of ION v1, a Decentralized Identifier (DID) technology, according to a press release sent to Bitcoin Magazine. The technology enables the identification of an entity without being controlled by a third party, as usernames and passwords on servers and can be considered a Layer 2 technology built on top of the Bitcoin blockchain. “A DID identifies any subject (e.g., a person, organization, thing, data model, abstract entity, etc.) that the controller of the DID decides that it identifies,” states…

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Ethereum Layer 2 Solution Hermez Network Launches on Mainnet

Ethereum’s Layer 2 welcomes a new arrival: Hermez Network.  Hermez Network Launches  Hermez Network has gone live on Ethereum mainnet.  The Layer 2 project shared news of the update in a blog post earlier today. In it, they wrote:  “We aim to help with Ethereum’s congestion peaks, and lower the entry barrier to decentralized finance. This is just the beginning, but the network will be able to process vast amounts of transactions, moving billions of dollars worth of digital assets.” Hermez Network is a form of rollup that works by grouping transactions together to create SNARKs—succinct non-interactive arguments of knowledge.…

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Optimistic Rollups Finally Make It to Ethereum, Synthetix Offers Rewards to Participate

Optimism PBC has launched the first phase of its Layer-2 scaling solution for Ethereum. Leading DeFi platforms beginning with Synthetix Network, Chainlink, and Uniswap are already lining up to enjoy cheaper and faster network speeds. DeFi Projects Choose Optimism As many DeFi projects rely on composability with one another, constant smart contract calls have been the primary reason for Ethereum’s congestion as of late.  This has led to an increase in the transaction fee and long wait times for many popular applications, even causing some to shut down. A rollup offers one solution to this problem.  A rollup executes smart…

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DeFi mainstreaming impossible until DEXs integrate layer 2, experts say

DeFi is booming again but experts caution that mainstreaming won’t occur without decentralized exchanges integrating layer 2 options. The rapid growth of the decentralized finance sector (DeFi) took a shock after the recent 17.5% drop in Bitcoin (BTC) price. However, it is likely that the DeFi sector will continue to grow as Bitcoin recovers, especially as users continue to look for high-yield strategies as a means to earn interest on their Bitcoin and crypto holdings. If the sector continues to grow as it did in the first half of 2020, the Ethereum network will find itself between a rock and…

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Ethereum Set to Shatter 2018 Cumulative Annual Gas Fee Record

Despite 2020 being only halfway done, the Ethereum blockchain is set to achieve a new annual gas payment record. USDT and DeFi Push Ethereum Gas Fees to New Heights According to Wilson Withiam — a researcher at crypto analytics platform Messari — the total gas payment recorded on the Ethereum network so far in 2020Read MoreRead More. The post by Osato Avan-Nomayo appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News

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Ethereum Welcomes Layer-2 Scaling Solution for Private Transactions and Atomic Swaps

After seven months, a Zero-Knowledge Proof Optimistic Rollup (Zkopru) implementation for Ethereum is ready for testing as per the latest update on July 19, 2020. The Layer-2 fraud-proof solution not only introduces privacy to ether, ERC-20, and ERC-721 transactions but also supports private atomic swaps.  Zkopru Brings Privacy and Scaling to Ethereum Zkopru is implemented onRead MoreRead More. The post by Dalmas Ngetich appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News

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