Skip to main content

MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Post a Comment

Ethereum’s return to all-time high accompanied by 77% rise in transaction fees

A 31% price surge was accompanied by a 77% rise in the cost of transacting on Ethereum.

Ether (ETH), the second largest cryptocurrency by market capitalization, returned to an all-time high on April 2 when the spot price for each unit of ETH exceeded $2,000.

Meanwhile, the ominous spectre of Ethereum’s unwieldy transaction fees made itself felt once more, as the cost of using the blockchain rose 77% across the past few days, in line with a 31% increase to the ETH coin price.

Ether recorded green candles for eight of the past nine days, as the coin price rose from a recent bottom of $1,530 on March 26, to the $2,009 valuation witnessed at time of publication.

Transaction fees summarily jumped 77% across the same time period, as the average cost of transacting on Ethereum rose from $12.96 to $22.97, according to data from Bitinfocharts.com.

Average fee figures often paint an inaccurate picture of the fees being paid most often on-chain, due to high-value outliers. The median transaction fee, which gives a clearer indication of the fees being paid most frequently, also rose during the past week, climbing 91%, from $6.66 to $12.74.

Few disagree that in the online world of dollar donations and sub-cent tips, the kind of costs incurred on popular chains like Ethereum and Bitcoin, where the average fee is currently around $8.50, are not really fit for purpose.

With this in mind, developers have put forward EIP-1559, an Ethereum improvement proposal that will overhaul the way fees are calculated on the blockchain. When the upgrade is implemented this coming July, transaction fees will be dynamically adjusted algorithmically. A deflationary aspect will be introduced to Ethereum’s tokenomics at the same time, with a portion of the network fees set to be burned out of existence after each transaction.

In the longer term, Ethereum is scheduled to move to a proof-of-stake consensus algorithm, which will see the current proof-of-work system abandoned completely. In PoS blockchains, coin holders stake coins to secure the network in return for passive income, as opposed to miners contributing computing power in pursuit of block rewards. The new consensus algorithm is being implemented as part of Ethereum’s ongoing upgrade to Eth 2.0.

https://ift.tt/2Og9zOB
Labels:

Comments

Post a Comment

Popular posts from this blog

Bitcoin Legal Tender in 3 Days but Survey Shows 7 Out of 10 Salvadorans Want Bitcoin Law Repealed

Bitcoin is becoming legal tender in El Salvador in three days. However, a nationwide survey conducted by the University Institute of Public Opinion (Iudop) shows that seven out of 10 Salvadorans want the government to repeal the Bitcoin Law. El Salvador’s Bitcoin Law Goes Into Effect in 3 Days The University Institute of Public Opinion (Iudop) in El Salvador conducted a study between Aug. 13 and Aug. 20 of how the public views the country’s upcoming Bitcoin Law. The institute is a research center of the José Simeón Cañas Central American University (UCA). El Salvador’s Bitcoin Law is set to go into effect on Sept. 7 , when BTC will be legal tender in the country alongside the U.S. dollar. A total of 1,281 respondents ages 18 and over participated in this national survey that “represents the entire adult population residing in the country,” according to the institute. Out of all the respondents, 62.4% said they were aware of the approval of the Bitcoin Law by the deputies of the ...
Post a Comment
Read more

Bitcoin breaking new highs in Q4 will ‘temporarily turn alts to dust’ — Analyst

Things will get exciting in quarter four, but not before a convincing floor is put in across crypto, analysts say this week. Bitcoin ( BTC ) was busy losing its overnight gains on Sept. 27 as resistance continued to prove too much for bulls.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst on Bitcoin: “Right now, we’re stuck” Data from Cointelegraph Markets Pro and TradingView  showed BTC/USD dropping to around $1,000 below overnight highs of $44,400 on Bitstamp on Sept. 27.  The move constitutes a rejection at a “critical” zone to break, Cointelegraph contributor Michaël van de Poppe explained, with $42,000 now the key level to hold for a higher low. Bitcoin is acting in an increasingly narrow range, he summarized in his latest YouTube update. “Right now, we’re stuck,” he said, pointing to $47,000 as next should the $44,600 zone be reclaimed. On the downside, the zone between $38,000 and $40,000 remains valid for a bounce, while a co...
Post a Comment
Read more

Blockchain Software Firm Consensys Acquires Mycrypto Ethereum Wallet

On February 1, the blockchain infrastructure firm Consensys has revealed it has acquired the Ethereum-based wallet Mycrypto and plans to merge the wallet into Metamask. The price Consensys paid for Mycrypto was not disclosed but the announcement notes that the acquisition will “further improve the security of all the products.” Consensys Obtains Mycrypto Ethereum Wallet, Plans to Merge With Metamask in the Future Consensys has acquired the Ethereum-based wallet Mycrypto for an undisclosed sum according to an announcement released on Tuesday. The deal aims to strengthen the company’s Ethereum wallet Metamask and “enhance Web3 experiences.” The eventual merger between the two Ethereum interfaces will “provide users with a heightened experience that is even more extensive and secure,” according to Consensys. Consensys is an Ethereum software company led by one of the Ethereum co-founders Joseph Lubin. The Web3 wallet Metamask, with 21 million monthly active users (MAUs) is owned by C...
Post a Comment
Read more