“This is the first time all eth2 and eth1 clients communicated with each other in an emulation of the merger which removes Proof of Work miners and fully upgrades the network to Proof of Stake. There are some optimistic estimates that the merger might occur as soon as December the 1st, with this devent showing there has been significant progress.
Following the devnet, which is a testnet environment but for devs as much is still very rough, there will now be longer new devnets and eventually there will be a testnet where the public can participate. The merger can then occur, at which point miners will no longer receive the circa 13,000 eth a day, worth about $40 million currently.
That practically means ethereum will get a boost of $40 million a day, in addition to EIP1559 burning fees which is expected this summer. So in effect reducing ethereum’s new supply to about 0.22% from the current circa 4%.
If all goes well, both these fundamental changes to ethereum’s monetary economics should go through by 2022 in giving eth its final form where monetary policy is concerned.”
“Public Key Infrastructure (PKI) today secures a lot of the web…And it’s coming for user authentication. With just a simple digital signature, PKI presents us with a clear opportunity to replace passwords altogether and secure the data dynamically between applications and users.
OpenLogin is the first authentication suite to combine the simplicity of passwordless authentication with the security of non-custodial public key infrastructure (PKI). It brings the ease of passwordless, SSO, biometric authentication (WebAuthN) to any native mobile or web applications. OpenLogin makes crypto-friendly FaceID or FingerprintID possible.
Non-custodial PKI is an important step towards empowering the digital individual with self-sovereignty. Instead of login providers attesting for users, key pairs enable users to digitally sign that “I am me”, a building block for secure and private interactions on the web, from decentralized identity to digital ownership.”
See Also: Self-Sovereign Identity, 5 Years On
“Alchemix is a protocol that allows yield to time travel. You deposit money in, the protocol puts your money into a yield farm, and you get all of the future yield up front in the form of a synthetic dollar loan. And then you can do what you want with the money—use it for car repairs, pay off a mortgage, or ape into the latest Uniswap gem. (Maybe just buy more ETH).
The crazy part? Your loan auto pays itself back overtime. That’s right: you don’t actually have to pay back the loan.
This the future of finance folks. Let’s level up on self-paying loans with Alchemix.”
“Today’s difficulty adjustment kicks off the first phase of activation for the upgrade, Bitcoin’s biggest in years which (among many things) will make Bitcoin multi-signature transactions cheaper, more private and easier to deploy.
Starting today, miners who wish to adopt the upgrade can signal their support by including special data in the blocks they mine called a “signal bit.” If 90% of the blocks mined during this difficulty period (or any of the other roughly two week difficulty periods that occur between now and the August 11 timeout), then the upgrade is “locked in” for activation in November of this year.
I am confident it will happen. Up to now, there has not been one complaint from our miners at Poolin.”
“Spartan Protocol, a decentralized protocol built on Binance Smart Chain for incentivized liquidity and synthetic assets, was exploited earlier Sunday UTC due to “a flawed liquidity share calculation” in the protocol.
The attack came just a few days after Binance Smart Chain’s DeFi exchange Uranium Finance lost more than $50 million in exploit on April 28 from a similar attack.“