“Our vision of scaling Ethereum has been years in the making, but it’s today that we first get the opportunity to bring much-needed gas relief to the incredible Ethereum community. We’ve committed to a fair launch, and today we’re delivering on that commitment by opening up to users for all projects simultaneously.
Even though we’re removing the whitelist today, this doesn’t mean that every project will choose to go live immediately. The Arbitrum One Portal is the best place to track the progress of current and upcoming launches on Arbitrum. We expect several projects to go live with us today and more projects to launch over the coming days and weeks.
While today’s release is a significant milestone, Arbitrum One is still in beta. We’ll be closely monitoring the launch and maintaining the ability to do fast upgrades and even pause the system should it become necessary. As Arbitrum is a new and cutting-edge system, we believe that maintaining these controls for the time being is the responsible way to launch.
Most notably, today’s launch will have a speed limit of 80,000 arbgas per second. The capacity of Arbitrum One in the post-launch period will roughly match the current capacity of Ethereum L1. We intend to increase the speed limit over time as the system stabilizes and we continue to increase performance.
Over the coming months and weeks, we’ll continue to monitor network usage, improve stability and performance, and gradually increase our transaction cap over time. We also have some very exciting features that we’ll be adding over time that will further improve on Arbitrum’s developer experience.”
See Also: Arbitrum One Portal
See Also: Arbitrum Bridge Tutorial
See Also: Optimism L2 ‘Community Launch’
“The Biden administration wants to incorporate new crypto reporting requirements in an upcoming $3.5 trillion budget reconciliation bill. The language would require American cryptocurrency firms, namely exchanges, to report data about non-U.S. users; that information could be exchanged with other countries to make sure crypto traders pay taxes.
The Treasury thinks such actors are setting up corporate entities to play a multi-billion shell game with offshore exchanges and wallets. To crack down, the U.S. needs information from other countries. And to get that information, it needs to come with information of its own to trade, hence the revised reporting requirements.
None of this is in the spending package as it’s currently constituted, which has been designed to be filibuster-proof but will need all 50 Democratic votes in the Senate to pass.
We object to last-minute additions to ‘must-pass’ bills outside regular order and with little or no public input.”
“The Central Bank of Nigeria (CBN) said Monday it will work with Bitt Inc., a blockchain and payments startup, to launch the African nation’s eNaira digital currency later this year. The central bank digital currency (CBDC) will ease cross-border trade, promote financial inclusion and speed up remittances, the central bank said.
Given the significant explosion in the use of digital payments and the rise in the digital economy, the CBN’s decision follows an unmistakable global trend in which over 85% of central banks are now considering adopting digital currencies.”
See Also: Nigeria Central Bank Issues CBDC Guidelines to Commercial Banks: Report
“The agency will represent the NFT project for appearances in film, TV, video games and publishing. CryptoPunks could be the first NFT to break into more traditional forms of media.
Licensing rights have been a controversial topic in the NFT sector because they are often seen as antithetical to its decentralized and permissionless nature. The news about CryptoPunks stirred a strong reaction among some observers of NFTs.
I’m skeptical Hollywood agents, however talented, can license the imagery authentically without deep engagement w the punk community.”
See Also: How NFT Giant OpenSea’s $3 Billion Month Compares to Amazon, eBay and Etsy
“China aims to build an international clearing and settlement network for mobile payments using the digital yuan. The network will be a “breakthrough point” in the cross-border use of the digital currency. China also wants to use the digital yuan to improve the monitoring and early warning capabilities regarding cross-border flows of the yuan, according to the article.
Official Chinese sources have been reluctant to talk about the central bank digital currency as a vehicle for RMB internationalization, even though state planning documents like the Five Year Plan affirm that internationalizing the national currency is one of the government’s goals.”
See Also: China’s Digital Yuan Experiment Expands to Insurance, Fund Management: Report
“You can now generate passive income with your ETH thanks to our new partnership with Lido, now available on Ledger Live.
By staking ETH with Lido, you don’t need to own 32 ETH to become a network validator. Lido allows users to participate in the network with any amount of ETH, without the need to maintain complex infrastructure whilst preserving the liquidity of your ETH. For each Ether you’ll stake through LIDO you’ll receive stETH in exchange. These stETH tokens can be exchanged, sent, or sold using services such as Paraswap.
Lido applies a 10% fee on a user’s staking rewards.”
“The DeFi applications involved in the project — Aave, SushiSwap, Curve, 0x and PoolTogether, among others — will together provide up to $100 million in educational initiatives, grants and incentives in an effort to educate individuals globally about decentralized finance.
Of the roughly 5 million people around the world currently using DeFi applications, less than 10% live outside of developed countries. DeFi for the People will make DeFi accessible and get more tools in the hands of more users around the world, and bring the benefits of DeFi to anyone with a mobile phone.”
See Also: Tackling Legal Uncertainty with the ZK Open Legal Working Group
“After several problems at Bitmain, the largest manufacturer of Bitcoin miners in the world, one of the company’s founders, Jihan Wu, decided to focus his efforts on validating Ethereum.
Through Matrixport, a company based in Singapore, the entrepreneur will start offering pools for validation, via stake, in ETH 2.0. According to Wu, his focus is to help implement the series of interconnected updates designed to improve the scalability, security and sustainability of the Ethereum network.“