9 June

“The Ethereum blockchain’s first dress rehearsal for its upcoming Merge was successfully completed Wednesday.

The Ropsten test network (testnet) successfully merged its proof-of-work execution layer with the Beacon Chain proof-of-stake consensus chain – a process identical to the one that the main Ethereum network will undergo in just a few months. Other testnet merges on Goerli and Seoplia are expected to happen in the coming [weeks].

Once Ethereum shifts from PoW to PoS, validators who have staked the required 32 ETH will take over the role of adding new blocks to the blockchain. Currently, the Beacon Chain runs in parallel with the current PoW chain.”

See Also: Ropsten POS Chain

Analysts await the likely outcome of the European Central Bank’s monetary-policy meeting on Thursday, which could affect in which direction BTC moves next.

It’s possible central banks beyond the U.S. Federal Reserve might start to hold sway over markets. As central banks outside the region start to raise interest rates, theoretically making their fixed-income assets more attractive to yield-seeking investors, they make their currencies more attractive. That could have implications for bitcoin because its price is usually denominated in dollars, and the trend often coincides with moves in the greenback versus major regional currencies.

We’re starting to price in much more aggressive tightening by the ECB. This is going to counter a tremendous amount of dollar strength. The consensus trade is going to be for the dollar to weaken in the second half of the year.”

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Stablecoins traded in the U.S. state of New York should be fully backed by certain assets, with these assets segregated from the issuers’ operational funds and attested to by an auditor regularly, according to new guidance issued by the state’s banking and finance regulator.

Our goal is to accomplish those things for the stablecoin market, the safety and soundness of institutions, stability of the marketplace and consumer protection.”

See Also: CFTC Chief Heaps Praise on Bill That Boosts Agency’s Crypto Reach

“Sharing the groundwork for policy discussions around the environmental impacts of digital currencies, the IMF recommends moving away from proof-of-work-based distributed ledger technology applications. The IMF also points out that the policymakers will consider the mainstreaming of crypto or CBDCs by weighing the environmental impact of the technology’s underlying design.

In addition to eco-friendly components, the IMF recommended central banks include other features in CBDCs, such as compliance, higher resilience and offline capabilities.”

LINK’s latest price action follows the publication of its updated roadmap for the implementation of staking. The initial implementation of Chainlink, called v0.1, is projected for the second half of 2022 and will mark the beginning of Chainlink Economics 2.0, the project’s ‘new era of sustainable growth and security.’

The increase in oracle security and user assurances brought about by staking will be key in helping the multi-chain smart contract economy scale to eventually secure multi-trillion-dollar markets across major global industries.

According to Chainlink, the initial staking pool will start with an aggregate size of 25 million LINK tokens, with the goal of expanding to 75 million tokens.”

See Also: Maker’s Decentralized Stablecoin Is Coming to Cosmos Thanks to Umee
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“Adim is a new Web3 entertainment company from actor and creator Rob McElhenney. The startup will use decentralized writers’ rooms to develop IP and then share in future royalties or revenue with NFT-holding co-creators.

Adim is building for the next evolution of these groups—communities of creators, writers, artists, designers, developers, fans, and friends working together to create and own a new generation of content.”

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