Vitalik Buterin's New Proposition for Ethereum's 'The Merge'

VaultCraft launches V2, TVL skyrockets above $100M

VaultCraft launches V2, partners with Safe, and secures $100M+ in Bitcoin

• Matrixport, Asia’s leading crypto providers, commits $100M+ in Bitcoin

• OKX Web3 to launch Safe Smart Vaults with $250K+ in rewards

Earn Now

@newsontheblockchain, 15/10/2024

Confidence in Knowledge. Providing daily news to make sure you're up to date!

🌍 Daily Crypto Market Overview

Global Stats:

• Cryptocurrencies: 2.4M+

• Exchanges: 751

• Market Cap: $2.28T (↑ 1.89%)

• 24h Volume: $88.11B (↑ 32.46%)

• Bitcoin Dominance: 56.81%

• Ethereum Dominance: 13.8%

• ETH Gas Price: 12.81 Gwei

• Fear & Greed Index: 56/100 (Neutral)

🪙 Top 5 Cryptocurrencies by Market Cap:

💹 Market Highlights:

• Total DeFi Volume: $4.75B (5.39% of total volume)

• Stablecoins Volume: $80.13B (90.94% of total volume)

• Coin with highest % change: cat in a dogs world $MEW +14.64%

📈 Preview On Today’s News:

1. - Vitalik Buterin's New Proposition for Ethereum's ‘The Merge’

2. - India Advocates for Central Bank Digital Currency (CBDC)

3. - UAE Central Bank Approves First Dirham-Pegged Stablecoin

🔥Heat Map:

Top 10 News for today:

1)

Vitalik Buterin's New Proposition for Ethereum's ‘The Merge’

Vitalik Buterin, co-founder of Ethereum, has introduced new proposals aimed at enhancing Ethereum's Proof-of-Stake system. His main objectives include improving staking processes, achieving single-slot finality, and lowering the barrier to becoming a validator. Buterin envisions reducing the current block finalization time from 15 minutes to a few seconds, speeding up transactions and making them more energy efficient. He also proposes lowering the required stake for validators from 32 ETH to 1 ETH, allowing for broader participation and greater decentralization. However, this approach faces challenges, including potential security risks and increased validator signatures processing time. To address these issues, Buterin suggests three solutions: enhancing signature aggregation, creating an Orbit committee, and implementing a two-tiered staking mechanism. His ultimate goal is to optimize Ethereum’s performance, security, and transaction speed while promoting a unified ecosystem.

• Vitalik Buterin proposes improving Ethereum’s Proof-of-Stake system by speeding up transaction finality and lowering validator entry barriers to enhance network decentralization.

• Buterin addresses potential security challenges by introducing solutions like signature aggregation, an Orbit committee, and a two-tiered staking mechanism to safeguard the network.

2)

India Advocates for Central Bank Digital Currency (CBDC)

India is advancing the adoption of a Central Bank Digital Currency (CBDC), as supported by Reserve Bank of India Governor, Shaktikanta Das. He argues that the Indian Digital Rupee could mitigate the financial risks posed by cryptocurrencies by providing a more stable and secure alternative. Das emphasizes the potential for CBDC to streamline global transactions, especially benefiting developing economies like India. This could reduce international transfer costs and boost India's leadership in cross-border payments, while also raising concerns about its impact on the cryptocurrency market.

• The RBI Governor advocates for the CBDC to reduce the volatility and unpredictability of cryptocurrencies, promoting a more stable digital currency for India.

• CBDC could lower international transaction costs and time, potentially positioning India as a leader in global cross-border payments, but it also raises questions about its effect on the cryptocurrency market.

3)

UAE Central Bank Approves First Dirham-Pegged Stablecoin

The UAE Central Bank (CBUAE) has granted in-principle approval for the AED Stablecoin, marking a significant milestone towards issuing the region’s first fully regulated, dirham-pegged token. This approval aligns with the UAE's Digital Government Strategy 2025 and could lead to the launch of AE Coin, a digital currency poised to transform everyday transactions in the country. The CBUAE’s regulatory framework mandates that stablecoin issuers back their tokens with real assets, such as cash in UAE banks or government bonds, while banning high-risk tokens like algorithmic stablecoins. The AED Stablecoin faces competition from global stablecoin giants like Tether and USD Coin, as the race for dominance in the UAE’s burgeoning crypto market intensifies.

• Key Highlights: The CBUAE has approved AED Stablecoin, bringing the region closer to issuing a regulated dirham-pegged token under strict regulatory conditions, such as backing assets with cash or bonds.

• Competitive Landscape: AED Stablecoin faces strong competition from global players like Tether, which recently announced plans for its own dirham-pegged stablecoin in collaboration with UAE firms.

Subscribe to News + to read the rest.