• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
February 7th - U.S. Ambassador to the United Nations Mike Walz stated that the United States will pay part of the billions of dollars in arrears owed to the UN within weeks, while emphasizing the need for continued UN reform. This comes after UN Secretary-General António Guterres warned of the UNs financial situation, stating that the UN faces the risk of "imminent financial collapse" due to member states unpaid dues. In a telephone interview, Walz said the first payment would be seen soon, and while the final amount has not yet been determined, he believes it will be finalized within weeks.The China Earthquake Networks Center officially determined that a 3.2-magnitude earthquake occurred in Tengchong City, Baoshan City, Yunnan Province at 12:00 on February 7, with a focal depth of 10 kilometers.On February 7th, CNN reported that US President Trump claimed that renaming Pennsylvania Station in New York City as "Trump Station" was a proposal by Senate Majority Leader Chuck Schumer. Schumer quickly refuted this claim. "Schumer suggested to me that Pennsylvania Station be renamed Trump Station," Trump told reporters aboard Air Force One, adding that many people, including union members, Democrats, and Republicans, had made the suggestion, "but theres been no progress." Schumer immediately refuted Trumps claim, accusing him of lying about the details of their conversation. "Completely a lie," Schumer posted on social media platform X. "He knows it. Everyone knows it. Only one person can restart this project, and he can do it easily."February 7 – The World Health Organization (WHO) reported on February 6 that Bangladesh had one case of Nipah virus infection, with no other related cases identified. According to a WHO press release that day, the infected person is a woman aged 40 to 50 living in the Rajshahi district of Bangladesh. She developed fever and neurological symptoms on January 21 and was diagnosed with Nipah virus on January 29. Bangladeshi authorities notified the WHO on February 3. The woman had no recent travel history but had consumed raw date juice. Her 35 close contacts tested negative for Nipah virus.February 7th - US President Trump stated on the 6th that the US, Russia, and Ukraine held "very good" talks that day regarding resolving the Russia-Ukraine conflict. Answering reporters questions aboard Air Force One, Trump said, "We had very, very good talks with Russia and Ukraine today. Something might happen." However, he did not elaborate further. It is understood that the issue of Ukrainian territory and security guarantees remains the sticking point in the negotiations. The US and Ukraine recently discussed the possibility of reaching a Russia-Ukraine peace agreement in March, but this is proving very difficult, and the timetable may be delayed.

Cryptoverse: Electric ether leaps on verge of Merge

Jimmy Khan

Aug 16, 2022 14:40

微信截图_20220816143207.png


The "Merge" is very probable to occur in September after years of delays, with the blockchain's underlying encryption undergoing a major change to a system where the production of new ether tokens becomes far less energy-intensive.


The ethereum ecosystem is experiencing exciting times, according to Omar Syed, co-founder of the smart contract platform Shardeum. Although I anticipate some controversy around the Merge, I don't anticipate any technical difficulties.


According to investors, ether is outperforming big brother bitcoin.


Even though it's far off its November 2021 record of $4,868.79, Ether has witnessed increases for six straight weeks, taking it up from a 1-1/2-year low of $880 in mid-June to values around $2,000 at this point.


Comparatively speaking, Bitcoin has been insignificant, rising 37% from its June low to $24,116.


Ether is eroding giant bitcoin's market share: according to CoinMarketCap, it now represents almost a fifth, or 19.7%, of the overall cryptocurrency market value of $1.14 trillion, up from less than 14.9% two months ago. The percentage of bitcoin has decreased during the same time period, from 44.9% to 40.2%.


According to Alex Miller, CEO of Hiro, which develops developer tools to create apps for bitcoin, "Crypto is still extremely closely tied, and I believe when the Merge successfully completes it might push up the price of bitcoin as well."


If Ethereum's developers are successful, as is widely anticipated, it might revolutionize the blockchain by making it easier to use and more affordable to mine for fintech and other cryptocurrency businesses.


Of course, there are many uncertainties surrounding the illusive shift, which has been postponed multiple times. Most recently, engineers abandoned plans to activate the switch in June, which alarmed investors who started to worry that it would never happen.


The Merge is also risky, and should it fail, the fate of the about 122 million ether in circulation, valued at nearly $232 billion, might be at jeopardy.


According to Miller of Hiro, if the update fails, it would "reset the whole crypto industry back five or ten years."

Intricate bomb

The proof-of-work (PoW) technique of verifying blocks is presently used by the Ethereum blockchain. Miners employ enormous amounts of power to swiftly solve challenging computational challenges in order to earn freshly generated currency.


A proof-of-stake (PoS) system, which only needs miners to "stake" their currencies to confirm transactions and produce new blocks, has been tested by Ethereum on a separate chain. It guarantees a 99.99% decrease in the energy used by the blockchain and primes it for quicker transactions.


The impending merging of the two networks hasn't gone down well with everyone, especially ether miners whose pricey mining equipment will become outdated and useless for mining bitcoin.


Mining ether has historically been more lucrative than mining bitcoin. According to Arcane Research, ethereum miners earned $18 billion in 2021 compared to bitcoin miners' $17 billion.


Some miners have made the decision to switch to mining the tokens ethereum classic or ravencoin, which are currently the best alternative.


The possibility that some individuals would continue to operate the PoW chain after the merging in order to compete with the upgraded blockchain is raised by the announcement by at least one miner that they want to resist and continue mining Ethereum.


That choice, however, has drawbacks.


The "difficulty bomb" that Ethereum's developers have created would dramatically raise mining difficulty, discouraging the PoW parallel chain after the Merge.


The chance of a greater acceptance of the parallel PoW chain is further decreased since the two biggest stablecoins, Tether and USDC, have backed the Merge.

Bubble futures

According to Alex Thorn, head of firmwide research at Galaxy Digital, "the chances of Ethereum experiencing a long-lasting chain split after the Merge remain remote."


However, positioning in the futures market suggests that at least some investors are planning for a hard fork or a rival PoW chain.


According to Matthew Sigel, head of digital assets research at investment firm VanEck, ether futures were also trading at a premium of $1,905 on the CME platform, "indicating predictions about a proof of work fork."


He said, "But that disparity is not so great as to suggest there is tremendous froth.