#EIP 4844

[christophbergmann]

Nach dem Dencun-Upgrade: Dauertiefpreise auf Ethereum-Rollups

Nach dem Dencun-Upgrade: Dauertiefpreise auf Ethereum-Rollups Vergangene Woche wurde das Dencun-Upgrade auf Ethereum aktiviert. Mit EIP-4844 vergünstigte es den Betrieb von Rollups. Wie erhofft sanken die Gebühren auf diesen drastisch. Wird damit Vitalik Buterins Ideal vom "Internet of Money" wahr?

Vergangene Woche wurde das Dencun-Upgrade auf Ethereum aktiviert. Mit EIP-4844 vergünstigte es den Betrieb von Rollups. Wie erhofft sanken die Gebühren auf diesen drastisch. Wird damit Vitalik Buterins Ideal vom “Internet of Money” wahr? Continue reading Nach dem Dencun-Upgrade: Dauertiefpreise auf Ethereum-Rollups

[unpluggedfinancial]

The SEC Approves Ethereum ETFs: A New Era for Institutional Adoption

The U.S. Securities and Exchange Commission (SEC) has recently approved the first batch of spot Ethereum (ETH) ETFs, marking a pivotal moment for Ethereum and the broader cryptocurrency market. This approval is anticipated to usher in increased institutional adoption and liquidity, setting the stage for potentially significant price movements and technological advancements within the Ethereum ecosystem.

Key Implications of the ETF Approval

1. Institutional Adoption and Market Liquidity: The approval of Ethereum ETFs is a critical development that could lead to a surge in institutional investment. This influx of institutional funds is expected to enhance market liquidity, making Ethereum a more attractive asset for both retail and institutional investors. By allowing investors to gain exposure to Ethereum through regulated financial products, the ETFs reduce the barriers to entry and provide a more secure investment avenue.

2. Potential Price Surge: Market analysts predict a substantial increase in Ethereum's price due to the ETF approval. Standard Chartered analysts foresee Ethereum's price potentially doubling, reaching $4,000 or higher by the end of the year if the ETFs perform well and attract significant investment. This optimistic outlook is driven by the expectation that the ETFs will boost demand for Ethereum, thus driving up its price.

3. Technological Advancements: Alongside the regulatory advancements, Ethereum is also making strides in technological innovation. The implementation of roll-up technology and EIP-4844 are poised to significantly increase the network's transaction capacity and efficiency. These upgrades are crucial for maintaining Ethereum's competitiveness, especially as it faces stiff competition from other blockchains like Solana.

Trading Strategies for the Evolving Landscape

The approval of Ethereum ETFs presents new opportunities and strategies for traders and investors. Here are a few approaches to consider:

1. Volatility Management: Given the potential for increased volatility around the ETF approval dates, strategies such as dynamic hedging and dollar-cost averaging could be beneficial. These methods help manage risk and capitalize on price fluctuations.

2. Market Sentiment Analysis: Understanding and exploiting market sentiment is crucial, especially in a market influenced by speculation about institutional adoption and ETF approvals. Using tools like artificial intelligence and machine learning to analyze social media, news outlets, and other sources for sentiment indicators can provide valuable insights for trading decisions.

3. Contrarian Investing: Taking positions against the market consensus when sentiment analysis suggests extremes of optimism or pessimism can be a profitable strategy. This approach, often summarized as "buy the rumor, sell the fact," involves making trades based on anticipated market reactions to news events.

4. Timing Regulatory Decisions: Staying informed on regulatory developments is essential. Strategically timing trades around the expected decision dates for ETF approvals can help investors capitalize on market movements triggered by anticipation and reaction to such news.

The Path Forward for Ethereum

The approval of Ethereum ETFs is a monumental step forward, but it also underscores the ongoing challenges and opportunities within the Ethereum ecosystem. As Ethereum continues to evolve, addressing scalability, security, and privacy concerns will be crucial for sustaining its growth and adoption. The network's ability to navigate the competitive landscape, marked by rivals like Solana and Cardano, will play a significant role in shaping its future.

As we move through 2024, Ethereum stands on the brink of transformative growth. The convergence of regulatory advancements, technological upgrades, and increasing institutional interest sets the stage for Ethereum to solidify its position as a leader in the blockchain and decentralized finance space.

For those interested in the future of Ethereum and the broader cryptocurrency market, staying informed and adaptive to the rapidly changing landscape will be key to navigating this exciting new era.

By understanding the implications and opportunities presented by the approval of Ethereum ETFs, investors and enthusiasts can better position themselves to take advantage of this significant development in the cryptocurrency world.

[argumate]

On March 13, the Dencun hard fork activated, enabling one of the long-awaited features of Ethereum: proto-danksharding (aka EIP-4844, aka blobs).

proto-danksharding--

[coineagle]

Ethereum dApp Usage Soars: Will it Propel ETH Beyond the $3,200 Mark?

Key Points

Ethereum’s decentralized application (dApp) ecosystem has seen a 38% increase in activity over the past month.

Despite the increase in network activity, Ethereum’s price action has remained subdued, trading around $3,114.

Ethereum’s dApp Volume Surges

Ethereum’s decentralized application (dApp) ecosystem has experienced a significant increase in activity, with a 38% volume increase in the past month.

This surge indicates a renewed interest in DeFi, NFTs, and gaming sectors. However, it is still uncertain whether this on-chain activity will lead to a bullish breakout for Ethereum’s price.

The Ethereum network has been active with increasing gas usage, transaction volumes, and dApp engagement. Yet, the price action remains cautiously optimistic.

On-chain Activity and Price Action

Recent data from DappRadar showed a steady rise in Ethereum dApp usage. Transaction volumes reached $3.54 billion as of the 19th of November 2024, and the number of daily unique active wallets surged to 78.53k, indicating growing participation in the ecosystem.

Over the last 30 days, the dApp volume increased to nearly $150 billion, marking the highest volume. The data also showed a 37.67% increase over the past month, making Ethereum’s increase the most impactful.

DeFi protocols have largely contributed to this growth, benefiting from a higher total value locked (TVL) as lending and trading activities gain momentum. NFT marketplaces and blockchain-based gaming platforms have also significantly driven transactions.

Despite the network activity increase, Ethereum’s price action has remained subdued, trading around $3,114. The technical outlook has revealed mixed signals as well.

Notably, the 50-day moving average of $2,687 is above the 200-day moving average at $2,957, indicating an overall bullish trend. However, the MACD shows a slight bearish divergence, pointing to weakening momentum.

The RSI at 59.35 reflected neutral conditions, suggesting that Ethereum’s price could move in either direction in the near term. Ethereum must break above critical resistance at $3,200 to sustain its bullish trajectory. On the downside, the $3,000 support level is crucial, as a breach could lead to a prolonged consolidation phase or even a short-term correction.

The significant increase in Ethereum’s dApp volumes underscores strong network demand. However, translating this activity into sustained price growth depends on several factors.

The continued expansion of DeFi and NFT sectors could enhance Ethereum’s intrinsic value, driving investor interest. Additionally, ecosystem upgrades such as EIP-4844 (Proto-Danksharding) are expected to improve scalability and network efficiency, potentially boosting Ethereum’s appeal.

However, challenges remain. High gas fees could deter further user participation, limiting the ecosystem’s growth. Broader macroeconomic conditions and fluctuations in Bitcoin’s price could also weigh on Ethereum’s ability to capitalize on its network activity.

[blockinsider]

Ethereum Supply Surge Raises Inflation Worries: 73 Days of Uninterrupted Growth

Key Points

Ethereum’s supply has been increasing for 73 consecutive days, sparking concerns about inflation.

The EIP-4844, which was part of the Dencun upgrade, is believed to be the cause of this inflation.

Ethereum (ETH) appears to be moving away from its deflationary trajectory after experiencing its longest period of inflation since transitioning to a proof-of-stake model in September 2022. Since mid-April, over 112,000 ETH have been added to the overall supply of the world’s second-largest cryptocurrency, according to data from ultrasound.money. This has led to questions about the network’s long-term sustainability.

EIP-4844’s Impact on Ethereum’s Inflation

The Dencun upgrade, which took place in March, is being blamed for this inflation. The upgrade included nine Ethereum Improvement Proposals (EIPs), with EIP-4844 being the most notable. EIP-4844 introduced “blobs”, a mechanism that separates and temporarily stores transaction data, reducing fees on Ethereum’s layer 2 networks like Arbitrum and Optimism. This proposal is believed to be the cause of the inflation.

EIP-4844 was successful in reducing transaction fees, but it appears to have had unintended consequences. Since its implementation, the total amount of ETH burned on the mainnet has significantly decreased. Ethereum’s proof-of-stake mechanism traditionally burns a portion of transaction fees, reducing the total supply over time. However, the new data storage method seems to have disrupted this burning mechanism, leading to the current inflationary trend.

Understanding the Overall Supply

Despite the growing supply trend, it’s important to note that the total ETH supply has actually decreased significantly since the Merge. More than 1.5 billion ETH have been burned, with only 1.36 billion added. This means that there has been a net reduction of roughly 345,000 ETH (over $1.1 billion).

The long-term impact of EIP-4844 on Ethereum’s supply dynamics is unclear. However, it is likely that developers will implement adjustments to the burning mechanism in future upgrades to ensure a healthy balance between transaction fees and supply control.

[coinmystique]

Ethereum introduced a significant improve known as “Deneb-Cancun” or “Dencun” some time in the past. Reportedly, it was supposed to repair the scalability points whereas implementing an enchancment proposal named EIP-4844. Nevertheless, the event crew not too long ago revealed that the much-awaited improve might get delayed. Earlier than moving into the nitty-gritty of it, let’s be taught what Dencun actually is.What Makes Dencun So Important?As talked about above, the improve will assist Ethereum to be extra scalable. It'll deliver modifications throughout the community’s two mainnet layers: the execution layer and the consensus layer. Whereas the previous will supervise good contract execution, the latter will handle consensus through staking. Furthermore, the improve will likely be carried out in a categorized vogue. The one which will likely be utilized to the execution layer will likely be known as Cancun. However, the consensus one will likely be referred to as the moniker Deneb.  Thus, collectively they're known as Deneb-Cancun. Essentially the most notable function of this improve is the Ethereum Enchancment Proposal 4844. Also referred to as proto-danksharding, this proposal will speed up the community’s scalability. Furthermore, it would take the present capabilities of Layer 2 options forward. The EIP-4844 will activate the retrieval of off-chain information and non permanent storage by Ethereum nodes. By doing so, it would deal with the storage and information necessities of assorted blockchain purposes. Additionally, builders predict that EIP-4844 will deliver down the transaction prices on Layer 2 rollup options. Applications like Arbitrum and Optimism will profit from this replace. What's the Motive Behind the Delay?On September 21, Ethereum’s consensus-layer crew held a gathering to debate the launch plan for Dencun. The moderator of the assembly, Tim Beiko from the Ethereum Basis, expressed considerations in regards to the delay. He stated that the improve lacks publicity to public testnets like Holesky, Goerli, and Sepolia. He additionally underlined the importance of Dencun’s launch earlier than Devconnect, an Ethereum-focused developer convention slated for November 2023. Beiko stated that if Dencun isn’t launched earlier than the convention, its mainnet activation might not occur this yr. In accordance with him, it might affect another plans of the community as effectively. However, he took cognizance of the present scenario and accepted the upcoming eventuality. He stated that there are lots of technicalities to reckon with and the time isn't ample. So, most likely, the Dencun’s deployment on the mainnet will occur after Christmas. Moreover, he defined that Dencun’s seamless deployment will rely on various factors. From the readiness of shopper groups to consensus layers and software program code, the whole lot must be excellent. Moreover, all of them need to be examined on public testnets. This train will take loads of time. At present, the improve work goes by way of the “devnet phase”. In the course of the conclave, builders talked a couple of localized developer community known as “Devnet 9”. The builders need to use this framework to evaluate the performance of Dencun. The testing on Devnet 9 will most likely occur subsequent week earlier than it goes to the general public testnet part. Whereas the improve might get delayed, customers would fairly wait than use subpar functionalities.   Nancy J. Allen is a crypto fanatic and believes that cryptocurrencies encourage folks to be their very own banks and step except for conventional financial alternate programs. She can be intrigued by blockchain know-how and its functioning.Newest posts by Nancy J. Allen (see all)Supply: https://www.thecoinrepublic.com/2023/09/23/much-awaited-dencun-upgrade-of-ethereum-maybe-behind-schedule/

[p5ravin]

BNB Smart Chain's BEP-336 Upgrade Poised to Compete with Ethereum's EIP-4844

The Binance Smart Chain (BSC) is gearing up for a major upgrade with the implementation of the BEP-336 proposal, a move that aims to enhance the functionalities and capabilities of the BSC ecosystem. Dubbed as BSC's answer to Ethereum's EIP-4844, the BEP-336 upgrade is expected to bolster BSC's competitiveness and position it as a formidable rival to Ethereum in the decentralized finance (DeFi) space.

The BEP-336 proposal, which stands for Binance Smart Chain Enhancement Proposal 336, introduces several key improvements and features to the BSC network, including:

Enhanced Scalability: One of the primary objectives of the BEP-336 upgrade is to improve the scalability of the BSC network. By optimizing transaction throughput and reducing latency, the upgrade aims to accommodate a higher volume of transactions, thereby enhancing the overall user experience for DeFi applications and decentralized exchanges (DEXs) built on BSC.

Lower Transaction Fees: The BEP-336 upgrade also addresses concerns related to high transaction fees on the BSC network. By implementing optimizations and improvements to the underlying blockchain infrastructure, the upgrade seeks to reduce transaction costs, making it more cost-effective for users to interact with DeFi protocols and conduct transactions on BSC.

Interoperability: Another key aspect of the BEP-336 proposal is to enhance interoperability between the Binance Smart Chain and other blockchain networks. Through the implementation of cross-chain compatibility features, BSC aims to facilitate seamless asset transfers and interoperability with Ethereum and other blockchain ecosystems, fostering greater connectivity and liquidity across decentralized finance platforms.

Security Enhancements: The BEP-336 upgrade includes security enhancements designed to fortify the resilience and robustness of the BSC network against potential threats and vulnerabilities. By implementing advanced security protocols and measures, BSC aims to enhance the trust and reliability of its infrastructure, attracting more users and developers to the platform.

The BEP-336 upgrade is poised to position Binance Smart Chain as a more competitive alternative to Ethereum, particularly in the rapidly growing DeFi sector. With Ethereum facing challenges related to network congestion and high gas fees, BSC's scalability improvements and lower transaction costs could appeal to developers and users seeking a more efficient and cost-effective blockchain platform for DeFi applications.

The comparison between BSC's BEP-336 upgrade and Ethereum's EIP-4844 underscores the intensifying competition between different blockchain networks vying for dominance in the DeFi space. While Ethereum remains the leading platform for DeFi development, BSC's rapid growth and technological advancements pose a formidable challenge to Ethereum's market dominance.

In conclusion, the implementation of the BEP-336 upgrade represents a significant milestone for the Binance Smart Chain ecosystem, signaling its ambition to rival Ethereum as a leading blockchain platform for decentralized finance. With enhanced scalability, lower transaction fees, and improved interoperability, BSC aims to attract more users and developers to its platform, driving further innovation and growth in the DeFi space.

[blockchainfeed]

Bitcoin developer Eric Wall analyzed potential limitations of post-Dencun L2s #Blockchain #Crypto

[nigeriabitcoincommunity]

Dencun Upgrade: Up to 90% Reduction on Layer 2 Fees!

The Ethereum blockchain underwent a significant milestone on March 13th, 2024 – the long-awaited Dencun upgrade. Did you notice how fees on Ethereum’s L2 networks have significantly dropped? That’s thanks to Dencun! This update tackles a major hurdle for Ethereum: transaction fees. While there were several improvements in Dencun, the most important one is called EIP-4844, or…

[christophbergmann]

Wie eine Extraspur für Linienbusse: Ethereum-Upgrade "Dencun" verbessert Skalierung durch "Proto-Dunksharding"

Wie eine Extraspur für Linienbusse: Ethereum-Upgrade "Dencun" verbessert Skalierung durch "Proto-Dunksharding"

Am 13. März soll “Dencun” live gehen: Das Ethereum-Upgrade wird unter anderem Proto-Dunksharding einführen. Dies wird die Gebühren auf Rollups senken – und den ersten Schritt zu vollem Sharding einleiten. Continue reading Wie eine Extraspur für Linienbusse: Ethereum-Upgrade “Dencun” verbessert Skalierung durch “Proto-Dunksharding”

[drewssam]

Coinbase Supports Ethereum’s Next Upgrade, Eip-4844

Coinbase announces its support for Ethereum's forthcoming upgrade, EIP-4844, aimed at drastically reducing layer 2 rollup costs and enhancing on-chain activity efficiency. Dubbed the "Surge," this upgrade follows Ethereum's recent "Merge" and focuses on scalability enhancements like sharding and rollups to facilitate smoother network operations.

Coinbase expresses enthusiasm for the Surge, anticipating its positive impact on reducing transaction fees and enhancing throughput, thereby fostering wider crypto adoption and advancing the transition to web3.

EIP-4844 introduces "proto-danksharding," enhancing data availability for rollups to lower fees and increase transaction throughput. Danksharding simplifies transaction data handling for validators, improving efficiency compared to previous sharding schemes.

Coinbase collaborated with OP Labs and the Ethereum Foundation since May to develop, implement, and test EIP-4844. Notable progress includes full specification, implementation in Prysm and Geth clients, and ongoing preparations for the KZG ceremony and Devnet v1 launch.

The team aims to further refine specifications, expand implementation across clients, and deploy a fully functional testnet in the coming months. Coinbase underscores the importance of safely deploying EIP-4844 to mainnet expeditiously for optimal benefits.

[marytum]

Ethereum L2 Solution Eclipse Completes $50 Million Funding Round

Another player has entered the crowded Ethereum Layer 2 (L2) arena.

On March 11, 2024, Ethereum L2 solution Eclipse, which utilizes the Solana Virtual Machine (SVM), announced the completion of a $50 million Series A funding round, led by Placeholder and Hack VC, bringing its total funding to $65 million.

What innovative features and highlights does it bring to the Ethereum L2 landscape? Let's summarize.

Eclipse: Standing on the Shoulders of Giants Eclipse combines the best parts of modular stacks:

Settlement: Ethereum — Eclipse settles on Ethereum (i.e., the built-in verification bridge will be located on Ethereum) and uses ETH as its gas token.

Execution: Solana Virtual Machine (SVM) — Eclipse runs a high-performance SVM as its execution environment.

Data availability: Celestia — Eclipse publishes its data to Celestia for scalable data availability (DA).

Proof: RISC Zero — Eclipse utilizes RISC Zero for ZK fraud proofs (without intermediate state serialization).

Ethereum Settlement Eclipse's mainnet's verification bridge on Ethereum will be directly built into Eclipse. Eclipse nodes will use this bridge to determine the "canonical chain." The bridge enforces correct sequencing for Eclipse. Eclipse nodes must also run Ethereum full nodes. The bridge validates all Eclipse transactions, preventing invalid state submissions. Additionally, it can survive and resist censorship even in certain failure scenarios, such as if the sequencer fails or starts censoring on L2, users can force-in their transactions via the bridge.

Eclipse recognizes the importance of Ethereum-native assets, so Eclipse will use ETH as the gas token. Eclipse's mainnet has no plans to have its own token.

Eclipse Chooses Solana VM A virtual machine is software that can run programs. Specifically, a virtual machine executes blockchain smart contracts. Why did Eclipse choose to use Solana VM?

Performance: Ethereum and other EVM blockchains operate with only one program running at any given point, known as "single-threaded." Solana VM is a highly parallel runtime, capable of running multiple programs simultaneously if there are multiple cores, significantly improving throughput.

Security: Certain languages (such as Rust) can more easily prevent many errors that Solidity cannot prevent. For example, Ethereum smart contracts are susceptible to so-called reentrancy attacks.

Community: Popular blockchains like Ethereum and Solana have fostered vibrant developer communities around EVM and SVM, respectively. This means better tools and developer support compared to newer virtual machines like Move VM or Fuel VM.

Ease of use: Languages like Solidity are easier to write code in, and not all bytecode supports compilation from Solidity.

In summary, Eclipse's mainnet chooses to run on Solana Virtual Machine (SVM). However, it can also support programs built for Ethereum Virtual Machine (EVM) using Neon EVM. In the future, Eclipse plans to add other bytecode formats based on dApp requirements. Existing tools for EVM (such as Truffle or Remix) or SVM (such as Solana CLI or Seahorse Lang) can be used.

Eclipse Utilizes Celestia for DA

The current bandwidth of Ethereum does not support the target throughput and fees of the Eclipse mainnet. Even after EIP-4844 (also known as "Proto-danksharding"), which provides approximately 0.375 MB of blob space per block (with a limit of about 0.75 MB per block), the situation remains unchanged. For basic compressed ERC-20 transfers (approximately 154 bytes per transaction), this translates to about 213 transactions per second (TPS) for all rollups. For compressed swaps (approximately 400 bytes per transaction), this equals about 82 TPS for all rollups.

In contrast, Celestia is set to launch 2 MB blocks later this year. Once enough Data Availability Sampling (DAS) light nodes come online and the network stabilizes, Blobspace is expected to increase to 8 MB shortly after launch. DAS light nodes serve two crucial functions: enabling users to self-verify Eclipse block data availability and contributing to the secure scaling of the entire network. Celestia's DAS light nodes have supported encrypted economic security attributes and highly scalable DA throughput since day one, making it the clear choice for today's Eclipse mainnet. Eclipse also intends to monitor Ethereum's progress in DA scaling post-EIP-4844 and will evaluate the possibility of migrating to Ethereum DA if it benefits users.

Fraud proofs use RISC Zero. While the Eclipse mainnet deploys optimistic rollup, it is concurrently developing zero-knowledge rollup. For optimistic rollup, the sequencer orders transactions and publishes the generated state root with bounties to the Ethereum layer 1. Validators can re-execute transactions, and if there are disagreements, validators can challenge the state root through settlement. If validators are correct, rewards are granted. Eclipse utilizes RISC Zero to create ZK fraud proofs without the need for intermediate state serialization.

[cryptomode2024]

The potential economic benefits of EIP-4844, including reduced data transmission costs, are underlined by Polymarket predictions.

[dencyemily]

Coinbase's Base Teams Up with Heroes of Mavia to Create a Safe Gaming Haven

In a groundbreaking development, Heroes of Mavia, the NFT-centric multiplayer game, has officially entered into a strategic alliance with Coinbase's Layer 2 network, Base. This collaboration aims to propel the growth of Mavia's mobile playerbase, fostering a secure and user-friendly gaming environment within the Mavia ecosystem.

Mavia's decision to embrace Base as its Layer 2 (L2) solution is underpinned by the network's reputation for executing "fast, secure, low-cost" transactions. This strategic move is intricately tied to Mavia's shared vision with Base, emphasizing the importance of an open-source, decentralized, and user-friendly on-chain platform that can be widely accessed. The collaboration reflects Mavia's commitment to building the next generation of on-chain applications, positioning Base as a key partner in this ambitious journey.

An essential factor influencing Mavia's choice is Base's extensive infrastructure integrations, which the gaming platform believes will ensure a secure and reliable onboarding process for gamers. Mavia sees Base as a robust L2 solution that aligns seamlessly with the specific needs of the gaming ecosystem. With reliable fiat on/off ramps, decentralized exchanges (DEXs), and the ability to cater to Coinbase's expansive ecosystem, Base stands out as a comprehensive solution.

Base's transaction system, known for its cost-effectiveness and speed, perfectly addresses the requirements of Heroes of Mavia's in-game Ruby marketplace, where the game sponsors all gas fees. The integration of Ethereum's Dencun upgrade and the forthcoming implementation of EIP-4844 (proto-danksharding) are anticipated to further enhance Base's transaction efficiency, potentially reducing costs by 10-100x.

The credibility of Base is underscored by its incubation under Coinbase, a leading blockchain platform. Mavia expressed confidence in Base, emphasizing the network's consistent delivery of results to the chain. This partnership signifies a significant step forward for Heroes of Mavia, positioning Base as a reliable and strategic ally in shaping the future of the gaming ecosystem.

[tokenlivenews]

Bitcoin Surpasses Silver in Market Cap, Sets New All-Time High

New Post has been published on https://www.tokenlivenews.xyz/bitcoin/bitcoin-surpasses-silver-in-market-cap-sets-new-all-time-high/

Bitcoin Surpasses Silver in Market Cap, Sets New All-Time High

Discover how Bitcoin has surpassed Silver in market cap and set a new all-time high, explore the advantages and implications of this milestone.

This week brought forth significant milestones in the realm of cryptocurrency, with Bitcoin leading the charge by reaching unprecedented heights.

Bitcoin‘s price soared to new all-time highs, surpassing Silver in market capitalization. This remarkable achievement underscores Bitcoin‘s growing dominance and its status as a formidable asset class.

Additionally, Bitcoin exchange-traded fund (ETF) products witnessed substantial net inflows amounting to $1.77 billion. This influx of capital reflects increasing investor confidence and interest in Bitcoin as a viable investment vehicle.

In Ethereum-related developments, the much-anticipated Dencun upgrade is slated to occur on March 13, 2024. This upgrade, named after the amalgamation of its components Deneb and Cancun, brings forth significant enhancements to Ethereum‘s network, including the introduction of ephemeral data blobs with EIP-4844, aimed at reducing transaction fees on Layer 2.

Moreover, noteworthy revelations emerged regarding Bitcoin holdings attributed to Tesla and SpaceX. Arkham Intelligence uncovered Tesla’s estimated holdings of 11.51K BTC and SpaceX’s holdings of 8.29K BTC, marking a significant disclosure in the cryptocurrency landscape.

In another notable event, MicroStrategy made headlines by acquiring approximately 12,000 BTC, amounting to a staggering $821.7 million investment. This strategic move further solidifies MicroStrategy’s commitment to Bitcoin as a long-term store of value.

Meanwhile, the Optimism Foundation conducted a private sale of 19.5 million $OP tokens, subject to a two-year lockup period. This sale, originating from the Unallocated section of the OP Token treasury, signifies a pivotal step in the Foundation’s operational endeavors.

Furthermore, Pantera Capital initiated efforts to raise funds for the acquisition of discounted $SOL tokens from the bankrupt FTX exchange. The Pantera Solana Fund aims to secure up to $250 million worth of $SOL tokens at a substantial discount, offering investors an opportunity to participate in this strategic venture.

Despite initial expectations for the fundraising round to conclude by the end of February, Pantera successfully secured a portion of the desired funds, signaling strong investor interest in the cryptocurrency market.

As Bitcoin continues its ascent to new heights and the cryptocurrency ecosystem evolves, these developments underscore the growing significance and potential of digital assets in the global financial landscape.

[p5ravin]

BNB Smart Chain’s BEP 336 Upgrade Set to Rival Ethereum’s EIP 4844

As the competition heats up in the world of blockchain technology, Binance Smart Chain (BNB) has announced a significant upgrade with the introduction of BEP 336. This enhancement is poised to rival Ethereum's EIP 4844, signaling a new phase in the battle for blockchain supremacy and offering potential benefits for users and developers alike.

BEP 336, short for Binance Smart Chain Enhancement Proposal 336, represents a major milestone in Binance Smart Chain evolution, introducing key improvements and features aimed at enhancing the platform's functionality, security, and scalability. The upgrade is designed to address some of the existing limitations and inefficiencies within the Binance Smart Chain ecosystem, positioning it as a formidable competitor to Ethereum, the leading blockchain platform for decentralized applications (dApps) and smart contracts.

One of the most notable aspects of BEP 336 is its focus on enhancing interoperability and compatibility with Ethereum's ecosystem. By aligning Binance Smart Chain more closely with Ethereum's standards and protocols, BEP 336 aims to facilitate seamless interaction and migration of dApps and assets between the two platforms, offering users greater flexibility and choice in their blockchain endeavors.

Moreover, BEP 336 introduces improvements to Binance Smart Chain's consensus mechanism, transaction processing speed, and overall network performance. These enhancements are expected to bolster the platform's scalability and throughput, enabling it to support a greater volume of transactions and accommodate the growing demands of its user base.

In addition to technical upgrades, BEP 336 also includes provisions for governance enhancements and community engagement, ensuring that the interests and feedback of stakeholders are taken into account in the decision-making process. This participatory approach fosters a sense of ownership and accountability within the Binance Smart Chain community, strengthening its resilience and sustainability over the long term.

The announcement of BEP 336 comes at a time of intensifying competition between Binance Smart Chain and Ethereum for market share and developer mindshare. While Ethereum has long been regarded as the go-to platform for building decentralized applications and deploying smart contracts, Binance Smart Chain has emerged as a viable alternative, offering lower fees, faster transaction speeds, and greater scalability.

With the introduction of BEP 336, Binance Smart Chain aims to capitalize on its strengths and further narrow the gap with Ethereum in terms of features and capabilities. By positioning itself as a competitive and innovative blockchain platform, Binance Smart Chain seeks to attract more developers and users to its ecosystem, driving adoption and cementing its position as a leading player in the decentralized finance (DeFi) space.

As the rivalry between Binance Smart Chain and Ethereum intensifies, the competition is ultimately beneficial for users and developers, as it spurs innovation, fosters healthy competition, and drives improvements across the blockchain industry. With BEP 336 set to rival Ethereum's EIP 4844, the stage is set for a new chapter in the ongoing battle for blockchain supremacy, with Binance Smart Chain poised to make significant strides towards achieving its ambitious goals.