Latest Progress about ETH 2.0
This indicator broadcasts the latest progress of ETH 2.0 and the data changes of ETH 2.0 pledge amount in time.
Ethercore Developers Plan to Discuss Taking EIP-4844 into Account
KingData News: OP Labs CEO Liam Horne tweeted that Ethercore developers will hold a conference call on Thursday to discuss taking EIP-4844 into account (CFI), "which is not meant to be included in the next hard fork, but seems like a good reason to consider inclusion for the Shanghai upgrade."
Ethereum Client Teams Test Staking Withdrawals on Devnet
KingData News: Ethereum developers have released a developer network to test validator staking withdrawals, a feature currently missing on the network. Ethereum developer Marius Van Der Wijden said the devnet will help prepare Ethereum to open up validator staking withdrawals next year with a planned upgrade called Shanghai. The lack of the feature has raised some fears about centralization risks after Ethereum migrated to proof-of-stake consensus.
Vitalik Buterin Reveals Four Key Goals for Ethereum (ETH) in 2023
KingData News: Ethereum (ETH) developers hope to accomplish four key goals next year, according to the project’s co-creator, Vitalik Buterin. Buterin says in a new interview with Bankless that solving scalability is their “number one” priority. Buterin notes that Ethereum developers are on a “ticking clock” to solve the scalability issue. The ETH co-creator also notes the project’s developers plan to work on privacy, base-layer censorship resistance and account abstractions.
63% of Ethereum Transaction Blocks Are now OFAC-compliant
KingData News: Abiding by regulatory guidance, 63% of all transaction blocks on the Ethereum blockchain are compliant with OFAC sanctions, according to MEV Watch. In the last month, the number of blocks proposed via the Flashbots relay nearly doubled, from 2,210 on Sept. 25 to just over 4,000 by Oct. 25, according to data from The Block Research.
Optimism: OP Token Inflation Rate was Incorrectly Set to 20%, Will Be Changed Back to the Original 2%
KingData News: Optimism, an Ethernet Layer 2 solution, tweeted that the total supply of OP tokens announced at launch will swell at 2% per year. When Optimism deployed the contract, the rate was mistakenly set to 20%. Later today, we’ll be updating the contract logic to the intended 2%. Inflation of OP does not begin until next year. No new tokens have been minted or moved, and no tokens were ever at risk.
Makers of zkSync to Launch Layer 3 Testnet ‘Pathfinder’ in Q1 2023
KingData News: Matter Labs will launch a public testnet for an Ethereum scaling prototype called ‘Pathfinder’ in Q1 2023, which might turn out to be the first Layer 3 network built on top of Ethereum. Another key benefit of Layer 3 networks, according to Newcomb, is that they enable native bridging between blockchains. Matter Labs is the Ethereum development company behind zkSync, a Layer 2 network on Ethereum that is set to launch this month.
zkSync 2.0 test network will reset transaction history, token balance and more today
KingData News: With new developments, zkSync 2.0 Testnet will undergo a regenesis on Monday, October 10th. The regenesis will reset transaction history, token balances, and require developers to redeploy contracts. Also this applies only to the zkSync 2.0 test network and does not affect zkSync 1.0.
Nethermind：Warp Has Transpiled and Compiled Uniswap v3
KingData News: Nethermind announced that the next big milestone in the Warp project has been reached: we have successfully transpiled and compiled Uniswap v3! What’s more, is that we’re finishing a hardhat plugin that allows you to run all your Solidity hardhat tests on the transpiled Cairo. Warp successfully transpiles and deploys every Solidity file in the Uniswap v3 repo with only minor changes to the source.
Coinbase: Supporting EIP-4844 and Reducing Fees for Ethereum Layer 2 Rollups
KingData News: In its official post, Coinbase said that EIP-4844 is another important upgrade to Ether after the merger. coinbase supports Ether EIP-4844 and says that EIP-4844 enables significant reductions in L2 fees and increases in transaction throughput by introducing Rollup data availability.
Total ETH Deposited for ETH2.0 Exceeded 14M, Accounting for 11.42% of the Circulating Supply
According to KingData monitoring, the latest data from Nansen shows that the total ETH deposited for ETH2.0 has exceeded 14.0 million, accounting for 11.42% of the total circulation. The number of unique validators on the network has exceeded 439K.
Scalability is Ethereum’s post-Merge focus: Vitalik Buterin
KingData News: Ethereum cofounder Vitalik Buterin said the next step for Ethereum after “The Merge” is scalability at Circle’s Converge22 conference. Vitalik said I think that it’s important to keep hammering on scalability as an issue, because it is really central to the problems that are preventing a lot of the cryptocurrency and blockchain applications that we dream of going mainstream. High costs are why users often opt to interact with cryptocurrencies through exchanges like Binance that offer cheaper and faster transactions rather than directly through the blockchain. “The Ethereum ecosystem’s ability to absorb and process transactions will increase by a factor of something like 100 to 1000, and so that’s going to be a big deal,” Vitalik said.
Ethernet Layer 2 protocol Loopring goes live on L2 DeFi Port
KingData News: Loopring, the Ether Layer 2 protocol, has launched the "L2 DeFi Port", which allows users to exchange various DeFi protocol tokens obtained on Layer 2 at any time on Layer 2, or withdraw Ether Layer 1 at any time and then interact with the DeFi protocol to experience various Layer 1 DeFi products on Loopring L2 in a decentralized way, with Lido's Ether pledge becoming the first integrated DeFi product to use it.
Citi Says Ether Remains Relatively Stable Despite Significance of the Merge
KingData News: The Ethereum Merge has been completed and despite “high anticipation” around the transition, volatility remained subdued, Citi (C) said in a research report Friday. Following the transition, miners are no longer being issued rewards, the bank said, noting that these rewards equated to a supply of 4.9 million ether (ETH) a year. ETH issuance is estimated to drop 90% to around 600,000, and total supply on the first day of the Merge fell as the fees burnt were larger than rewards issued to validators, it added. Citi says ether has become a yield-bearing asset following the removal of mining, with current staking yield about 4.5%. This yield is higher than some traditional financial instruments, it said.
Automated Metadata Refresh is live on Immutable X
KingData News: Immutable X, the Ethernet NFT Layer 2 scaling solution, goes live with Automated Metadata Refresh, where developers will have self-service access to refresh metadata when necessary to update game assets, improve the game experience, and more, without having to contact a member of the Immutable X team.
45% of Ethereum PoS Nodes Run By Two Addresses, Raising Fresh Centralization Concerns
KingData News: Santiment – a crypto behaviour analytics platform – shared a shot of its Ethereum Post-Merge Inflation dashboard. Per data from the dashboard, just two addresses have validated up to 293 blocks on the Ethereum PoS chain post-Merge. The number represents a whopping 45.18% of all nodes. The first address has validated 188 blocks, taking up 28.97% share. The second address takes up 16.18% share, having validated 105 blocks. As previously reported, over 40% of the blocks were added by Coinbase and Lido after the Ether merger.
These Altcoins May Outperform Ethereum Post-Merge, According to Ex-Goldman Sachs Executive Raoul Pal
KingData News: Macro guru and former co-head of hedge fund sales in equities and equity derivatives at Goldman Sachs, Raoul Pal, says that Ethereum’s transition to a proof-of-stake (PoS) consensus mechanism will be positive but that Ethereum layer-1 competitors will outperform due to the head start they enjoy in terms of scalability and affordability. “My hunch is that when we all wake up tomorrow we will realize that the change to PoS is very positive over time for ETH. But then people will again realize that there is still a need for cheaper and faster chains and that is where the marginal money will flow. As these layer-1s are earlier in their network adoption curve, so will generally outperform in a bull market.” According to crypto data platform Chainalysis, some of the leading layer-1 blockchains include Solana (SOL), Cardano (ADA), Polkadot (DOT), Avalanche (AVAX), Cosmos (ATOM) and Binance Chain (BNB).
Lido in First Place in the Ranking List of Ethernet Pledges, Accounting for More Than 30%
KingData News: According to BTC.com data, there are more than 13.7 million Ether pledges after POS. In the ranking of Ether pledge nodes: Lido is at the top of the list, pledging 4,157,248 tokens, or 30.25%, followed by Coinbase (14.45%), Kraken (8.3%) and Binance (6.58%).
Luxor Mining COO: About 30% of Ethereum Miners Have Migrated to Other Networks
KingData News: Ethan Vera, chief operating officer of ethereum mining pool Luxor Mining, tweeted that as suspected too many ETH miners switched over to ETC. Even running new generation hardware at sub 3 cent power is not profitable on ETC now. In total it looks like about 20-30% of ETH miners have found a temporary new home amongst other blockchains, the rest are shut down.
Ether’s New ‘Staking’ Model Could Draw SEC Attention
KingData News: Ethereum’s big software update on Thursday may have turned the second-largest cryptocurrency into a security in the eyes of a top U.S. regulator. Securities and Exchange Commission Chairman Gary Gensler said Thursday that cryptocurrencies and intermediaries that allow holders to “stake” their coins might pass a key test used by courts to determine whether an asset is a security.
Vitalik: Ether Merger is Stable Because it Achieves Better EIP 1559 Performance
KingData News: Martin Köppelmann, founder of the ethereum prediction platform Gnosis, tweeted a block-out time chart for the latest 100 blocks, indicating good stability after the ethereum merger. Only one missed block was created in the first 100 blocks. In response, Vitalik Buterin, founder of EtherChannel, replied that one important corollary of this is better EIP 1559 performance (because fewer blocks bump up against the 2x limit). So far, the percentage of full blocks has dropped from 20% to 10%.
Ether's First PoS Block was Born at Altitude 15537394
KingData News: The execution layer of Ethernet (i.e. the previous main network) and the consensus layer of proof of interests (i.e. the beacon chain) triggered the merging mechanism at block height 15537393 and produced the first PoS block (with height 15537394), since then the consensus of Ethernet has officially changed from PoW to PoS mechanism. The first PoS block is packaged and verified as: 0xeee27662c2b8eba3cd936a23f039f3189633e4c8.
Ethernet completes mainnet and beacon chain merger, consensus mechanism shifts to PoS
KingData News: Ether has reached the total difficulty of the mainnet merge terminal. Ethernet has completed the merging of its mainnet and beacon chain at 14:43 on September 15, 2022, marking the phase-out of Proof of Work (PoW) and the complete transition to Proof of Stake (PoS) for Ethernet.
BitMEX Will Suspend Withdrawals of ETH, ERC-20 Assets and USDT 1 Hour Before and During the Merger
KingData News: BitMEX, a cryptocurrency exchange, announced that it will suspend withdrawals of ETH, ERC-20 assets and USDT one hour before and during the Ether merger, while trading on derivatives and spot exchanges will not be affected.
Data: 88% of Execution Layer Clients are Ready for Ether PoS Mergers
KingData News: According to EtherNodes data, 88% of execution layer clients are currently ready for the EtherPoS merger, while 12% of execution layer clients have not yet upgraded to the latest version that supports the merger. Of the four execution layer clients, Go-Ethereum (Geth) has 87% of clients ready for merging, Erigon 92%, Besu 99%, and Nethermind 91%.
Real Vision Founder: The Benchmark Yields Offered by The Ether Merger Will Change Everything
KingData News: Raoul Pal, founder of macro research firm Real Vision, tweeted that PoS will bring positive changes to ethereum. The biggest narrative of the Ether merger will be gains, not supply reductions, and the benchmark yields it offers will change everything.
ConsenSys CEO Joseph Lubin: The Merge will be ‘enormously impactful’
KingData News: ConsenSys CEO Joseph Lubin said that he thinks The Merge will be "enormously impactful" and that there will be little disruption to the end user. In an interview with Bloomberg TV on The Merge, the Ethereum co-founder also described the event as "probably nothing," explaining that it will be “very likely nothing in the sense that there is no disruption that’s going to be experienced by end users.” Lubin closed off the interview by discussing the history of the ecosystem, suggesting that The Merge was the third major event to happen in crypto after the advent of Bitcoin and the development of Ethereum.
Multichain to Suspend Ethereum Cross-chain Service about 6 Hours Before Merger, only Supports PoS Chains
KingData News: Ethereum The Merge Upgrade will take place on Thursday, Sep 15, 2022. Multichain protocol will pause Ethereum blockchain cross-chain service approximately 6 hours prior to The Merge Upgrade.
OKX Updates Ether Merger Upgrade Processing Plan, Will Proportionally Airdrop Fork Coins if Ether Forks
KingData News: According to the announcement of OKX, the Ether merger is expected to be completed at 10:00 on September 15, and EuYi is expected to suspend the top-up and withdrawal of ETH and other ERC-20 network tokens at 23:00 HKT time on September 14. If no new tokens are generated after the Ethernet merger and upgrade, OKX will open ETH and other tokens for top-up, withdrawal and cross-chain bridge-related business after confirming the stability of the main Ethernet network; if a new chain is generated after the Ethernet upgrade, OKX will treat the Ethernet network tokens with PoS as ETH and the Ethernet network tokens with PoW as fork coins.
Coinbase Cloud Lists 4 Major Risks of Ether Merger
KingData News: In a blog post, Coinbase Cloud listed 4 risks associated with the Ethernet merger (PoS conversion). They are technical risk, operational risk, economic risk and risk due to lack of customer diversity. Coinbase Cloud said, "Since the merger is the most technically complex upgrade, it is likely to be subject to various errors and technical flaws (technical risk). Node participation on the mainnet may also decline if clients and verifiers fail to upgrade in a timely manner (operational risk). There is an economic risk that the demand for ETH lending to obtain the PoW hard fork version of ETHW increases rapidly after the upgrade, leading to a significant increase in ETH interest rates in the lending market. Finally, the lack of customer diversity is a risk and may not filter out the wrong block offers."
Kraken report: Base Fee Threshold for Achieving Ether Deflation at Current Pledge Levels is 15.43 Gwei
KingData News: Yearn core developer banteg tweeted that according to a report released by Kraken Intelligence, the base fee (Base Fee) threshold for post-merger Ether to achieve deflation is 15.43 Gwei with 13.3 million ETH currently pledged.
Opyn Supports Ethereum Merging, No Plans to Support Forks in Opyn Web App
KingData News: The official Twitter announcement from decentralized options platform Opyn says it will support the Ether Merge and has no plans to support any forks in the Web App. Currently, Opyn is only available for canonical chains that are migrating to PoS. In the event of a canonical PoW ETH fork, the Squeeth interface will not support forked PoW Squeeth, vault NFTs, etc.
Over 70% of pledged ETH has a purchase price above $1,700
KingData News: According to The Defiant, more than 70% of pledged ETH was purchased at a higher price than the current price ($1,700), and if the price remains at that level, most pledgers may have no incentive to sell when the post-merger "Shanghai Upgrade" (expected to occur about 6 to 12 months after the merger) allows ETH withdrawals.
Mycelium Will Waive Transaction Fees on Mycelium Perpetual Swaps During the Ether Merger
KingData News: Mycelium (formerly Tracer DAO), a decentralized trading platform, announced in a tweet that it will waive transaction fees on Mycelium Perpetual Swaps, a perpetual contracts trading platform, during the Ether merger to celebrate the merger.
Etherscan to Depart Test Network Rinkeby and Ropsten's Browser on October 5
KingData News: Etherscan, the Etherscan browser, tweeted that the Rinkeby and Ropsten testnet explorers will be deprecated on October 5th, 2022. The explorers will be set to read-only for the foreseeable future and will eventually be sunset. Developers, migrate your contracts and deploy new ones on Goerli or Sepolia!
Ethernet Merger Progress Completed 99.74%, Network-wide Computing Power Fell to 874.31 TH/s
KingData News: According to the data of OKLink Multi-chain Browser "Countdown to Ether Merger", the current progress of Ether Merger has been completed 99.74%, according to the current network situation, the merger will take place on September 15 as scheduled. Currently, the network-wide computing power of Ether is 874.31 TH/s, which has dropped for 4 days since September 8, and the top 5 mining pools have 538.29 TH/s computing power, accounting for 92.95% of the network-wide computing power.
Official EthereumPoW ETHW Fork Date Announced
KingData News: The Ethereum proof of work fork will deploy within 24 hours of The Merge. That's according to a Twitter announcement by @EthereumPoW, the social media account behind the forthcoming ETHW mainnet, which laid out the plan in a thread detailing the strategy. An official announcement is expected one hour before the exact time of the network launch. Afterwards the ETHW chainID will switch to 10001, and final code, config files, binaries, as well as other vital materials such as node data, RPC and explorer info will be made available. To provide sufficient time for the chainID switch to take place, the mainnet will go live at the specified time after 2048 empty blocks are processed, meaning that the first ETHW block to contain any transactions on the mainnet will be the Merge block +2049 according to thread.
Ether Kiln Test Network Will Be Shut Down Next Week
KingData News: The Ethernet Foundation has announced that the Ethernet Kiln test network will shut down next week, when the boot nodes and validators maintained by the client and test teams and infrastructure providers will be shut down. In addition, the Ropsten and Rinkeby test networks will be closed in the fourth quarter of 2022 and the second quarter of 2023, respectively.
StarkWare Will only Support PoS Chains after the Ethernet Merger is Complete
KingData News: StarkWare tweeted that it will only support PoS chains after the Ether merger is completed. After the merge, StarkNet users can withdraw funds only to the PoS chain. No action is required. StarkNet users who wish to interact with the PoW chain must withdraw their Ether before the merge takes place.
Maker Protocol Will Only Support PoS Chains After Ether Completes its Merger
KingData News: MakerDAO tweeted that once the Merge is complete, the Maker Protocol will continue to work as it does today on the Ethereum PoS chain. As a user, you don’t have to take any specific action to keep your Maker Vault up and running or to hold your Dai. In addition, MakerDAO warns users to beware of replay attacks.
Ether Price Could 'Decouple' from Other Crypto Post Merge — Chainalysis
KingData News: Crypto analytics firm Chainalysis has suggested that the price of Ether (ETH) could decouple from other crypto assets post-Merge, with staking yields potentially driving strong institutional adoption. In a Sept. 7 report, Chainalysis explained that the upcoming Ethereum upgrade would introduce institutional investors to staking yields similar to certain instruments such as bonds and commodities, while also becoming much more eco-friendly. The report said ETH staking is expected to offer a 10-15% yield annually for stakers, therefore making ETH an “enticing bond alternative for institutional investors” considering that treasury bonds yields offer much less in comparison.