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Hong Kong stocks continued to fall, with the Hang Seng Index and Hang Seng Tech Index both falling by more than 2%, while the Tech Index rose by 2% in early trading.On September 18th, the China Development Bank (CDB) announced that, as of the end of August this year, the bank had issued over 6 trillion yuan in medium- and long-term infrastructure loans and invested 425.6 billion yuan in its infrastructure investment fund during the 14th Five-Year Plan period. The banks overall infrastructure investment and financing balance increased by 9 percentage points compared to the end of the 13th Five-Year Plan. This has strongly supported the construction of a large number of key projects that benefit both the immediate and long-term, and that are conducive to strengthening the foundation for economic and social development. The head of the CDBs Development and Planning Department stated that, moving forward, the bank will focus on its core functions as an infrastructure bank, actively supporting the implementation of the "two-pronged" construction and the expansion and improvement of the "two new" policies. The bank will continue to improve its financial services for the entire life cycle of infrastructure, vigorously promote innovation in market-oriented investment and financing models for infrastructure, and actively track major projects from the 15th Five-Year Plan, making new contributions to the construction of a modern infrastructure system.The draft decree shows that Vietnam must develop new regulations due to growing global tensions and powerful countries trying to expand their sphere of influence.DBS Bank: The Fed will cut interest rates fewer times than the market expects.ANZ Bank: After the recent sharp rise, platinum prices are expected to fall back to $1,250/oz.

Ethereum Development 55% Complete After Merge: Vitalik Buterin

Alice Wang

Jul 25, 2022 15:13



Vitalik Buterin discussed the long-term viability of the network on July 21 at the annual Ethereum Community Conference (EthCC) in Paris.


With just two months before Ethereum (ETH) switches from energy-intensive proof-of-work mining to proof-of-stake consensus, the highly anticipated Merge was a hot subject.


To an audience of developers, Buterin said, "After the merging, you will be able to construct an Ethereum client that does not even know the proof-of-work phase has occurred."


He continued by saying that developers still had a lot of work to do since the network as a whole will only be "55 percent complete until we conclude the Merge." Although there may be delays, September 19 has been set aside for The Merge, which will connect the current Ethereum chain with the fresh Beacon Chain.

Massive Planned Ethereum Scaling

The transaction costs associated with Ethereum, which soar when the network is overloaded, are one of the most often voiced grievances. As a consensus change, The Merge won't resolve this problem, therefore transaction fees will continue to vary and become more costly during periods of high block space demand.


As the network grows, this problem will be addressed by upgrades scheduled for the next year.


 Ethereum "will be a far more scalable system by the conclusion of this road plan," said Buterin, adding that it "will be able to perform 100,000 transactions per second" by then. The network can only handle 15-20 transactions per second at the moment, which makes wider adoption impractical.


Buterin suggested more improvements with the rhymes "surge," "verge," "purge," and "splurge" in addition to the present one. These are a component of the network's cleaning phase and scale development, which are anticipated to be implemented in the next years.


He continued by saying that there will be significant adjustments to the security model, token supply, and monetary policy of Ethereum. Currently, around 5.5 million ETH are still being issued annually for Ethereum. Once the Merge takes place, the EIP-1559 upgrade's transaction fee burning procedure will render issuance deflationary, causing the supply to gradually decline.


More than 2.5 million ETH have been burned or lost when the update was introduced in August 2021. This is worth almost $4 billion at the present pricing.

Merge momentum is still present

Asset values are still rising as a result of these monetary characteristics, which are the exact opposite of inflationary fiat currencies. As interest in Merge rises, ETH has gained 33% over the previous week.


Following a monthly gain of 40%, ETH was up 2.5 percent on the day and trading at $1,578 at the time of writing. It is driving the current crypto market rise, but next week's macroeconomic data and worries about a recession may swiftly send everything spiraling downward.

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