Hey Stackers,
With inflation fears continuing to rock global markets, crypto prices are still under sustained pressure. This is despite Ethereum completing the historic Merge. We’re clearly still in the midst of a major bear market. The news alone was not enough to boost prices, suggesting it hasn’t been properly priced in.
Now is the time to play carefully. New projects are being founded almost daily and opportunities are out there. The successful merge though and the lack of positive price action reminds us that macro factors are still dominant.
Dev Spotlight 👨💻
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Adshares Network is a decentralized, peer-to-peer market for programmatic advertising. There have been several spikes in activity over the past few months, prompting us to take a closer look.
Top News This Week
Google Counted Down to Ethereum’s Merge With an Easter Egg and Ethereum PoW Revealed Mainnet Plans After the Merge
A Google easter egg counted down to Ethereum's Merge, which was a massive sign of recognition for the Upgrade from the world's most popular search engine.
This nod came after Ethereum’s long-awaited transition to the Proof-of-Stake (PoS) method of validating transactions.
Sam Padilla announced the implementation of the native countdown clock alongside the current hashrate difficulty and merge difficulty.
Additionally, Ethereum PoW revealed plans surrounding its mainnet and released information on preparing full nodes. This Proof-of-Work (PoW) chain released all of the required details to prepare full nodes for ETHW. It offered various ways to download the full node data.
Ethereum’s Merge Officially Completed and Progress Reached 100%, and Vitalik Buterin Commented on the Upgrade
The Merge, which originally began in 2020 with the launch of the Beacon Chain, successfully transitioned the network to the Proof-of-Stake (PoS) consensus model.
On September 15, 2022, Vitalik Buterin, the co-founder of Ethereum, announced that the team had completed the implementation of the Merge and that this would reduce worldwide electricity consumption by 0.2%.
The Ethereum Merge was officially completed and reached 100% on September 15, 2022.
Furthermore, after the Merge, the hashrate of Ethereum Classic (ETC) reached 92.48TH/s, a 24h increase of 55.17%. Other networks, such as Ravencoin (RVN), reached 10.092TH/s, a 24h increase of 35.463%, and Coinflux (CFX) soared to 1.6158 TH/s, a 24h increase of 55.74%.
Privacy Coins Fell Following Their Delisting on Huobi and Wall Street-Backed Crypto Exchange EDX Market Set for November Debut
The cryptocurrency exchange known as Huobi Global announced the delisting of a total of seven privacy coins, including Monero (XMR) and Zcash (ZEC), Dash (DASH), Decred (DCR), Firo (formerly Zcoin), Verge coin (XVG), and Horizon (ZEN).
The main reason behind the delisting is unclarified by cited compliance policies and user's safety, as well as the company's Article 17(16) of the Management Rules.
Wall Street Backed crypto exchange EDX Markets aims to mimic the best features of traditional finance and is set for a November Debut.
According to Chief Executive Officer Jamil Nazarali, It will start trading a limited number of spot crypto tokens starting with a November trial period, with the official launch in January.
SWIFT Financial-Messaging System Has Piloted Its Blockchain Project, and BNB CHain Will Collaborate With Google Cloud
SWIFT, the messaging system utilized by financial institutions on a global scale to instruct tens of millions of transactions daily, has begun testing out blockchain technology.
The Society for Worldwide Interbank Financial Telecommunication has piloted a project with Symbiotic Inc., and the collaboration is aimed at driving efficiencies in communicating significant corporate events, such as dividend payments and mergers. The collaboration also includes Citigroup Inc., Vanguard, and Northern Trust.
Binance's smart contract blockchain platform, known as BNB Chain, has conducted a strategic partnership with Google Cloud to bolster Web3 and blockchain startups.
Startups that are currently building products, as well as services on top of the BNB Chain, will be provided with the ability to build on Google Cloud's scalable, secure and open-source infrastructure.
Thanks for reading,
James
Is it going to change something? Will it really help for improvement? US seem to do everything in order to remove all the crypto as far as possible. I hope it won't really work. And everyone are presenting it like all the privacy coins are dying already and couldn't be traded anymore. It all depends on the level of privacy you've chosen from the very beginning. As Crypton CRP from Utopia p2p https://u.is/ feels pretty nice despite all. Maybe that's all because of the decentralization and own blockchain. Anyway, it's not a disaster.