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- The Ethereum Merge Finally Happened: So What?
The Ethereum Merge Finally Happened: So What?
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Investors should take note of some of Ethereum's core traits that just changed.
Ethereum has been getting ready to "merge," creating temporary disruptions in some crypto trading and potentially new opportunities for investors.
In simple but perhaps poorly understood terms, Ethereum has gone from a cryptocurrency token backed by a proof-of-work blockchain to one supported by a proof-of-stake blockchain.
This process required the help of a proof-of-stake chain called Beacon, which had been developing in parallel with the Ethereum blockchain since 2020. Though Beacon did not formerly process transactions, it had acted as a testing ground that allowed for a smooth transition to the PoS upgrade. Read More
Asks federal agencies to work with states on setting standards
Says White House or Congress may eventually need to step in
The White House says the environmental impact of producing cryptocurrencies like Bitcoin could impede US efforts to combat climate change.
The conclusion thrusts the Biden administration into the center of an already raging debate over the carbon footprint of digital assets. Critics have been ringing alarm bells for months over the amount of electricity used in crypto mining operations. Read More
CryptoSlate
Debate rages over whether Ethereum should be considered a security post-Merge
SEC chairman Gary Gensler said that cryptocurrencies that allow for staking might be classified as securities based on the Howey test.
With Ethereum’s successful transition to a PoS network, some crypto community members expressed concern that ETH could be considered a security and attract undue regulatory attention. Read More
Bloomberg
Regulators around the world have been carrying out investigations against Terraform Labs, Founder Do Kwon, and other related parties. Earlier this year, Terra [LUNA] and its native stablecoin UST, shed most of their value. This resulted in massive losses for investors. The same had a ripple effect on the broader ecosystem, and the market—on a whole—became choppy.
Per the latest development, South Korean authorities have issued a warrant for Do Known, indicating that they intend to arrest the Terra founder. Read More
BREAKING: 🇰🇷 South Korea issues arrest warrant for $LUNA founder Do Kwon.
— Watcher.Guru (@WatcherGuru)
Sep 14, 2022
Shutterstock
With Ethereum’s switch to proof-of-stake, DogeShcoin is now second only to Bitcoin among minable, proof-of-work coins.
With the Ethereummerge now completed and the top blockchain for NFTs and decentralized applications switched to a proof-of-stake system, Dogecoin is now the second largest proof-of-work coin after Bitcoin by market cap.
Initially launched in 2013 as a joke, lampooning the crypto crash, Dogecoin is currently the tenth-largest cryptocurrency, with a market capitalization of $7.95 billion. Read More
Analytical Data
glassnode
📈The amount of BTC in LTH is steadily growing
Long-Term Holder (LTH) reached a new ATH of 13.6 million BTC.
Blockchain.com
1.5 years ago China banned #Bitcoin mining. Today we have a new All- Time High in Hashrate.
Florida Blockchain Politics
Inflation is a major concern for Floridians, and it’s been affecting their summer travel plans. But there’s a silver lining.
A new statewide survey from the Florida Atlantic University Business and Economics Polling Initiative (FAU BEPI) shows that 85% of respondents are concerned or very concerned about the current rate of inflation and that 56% said the higher costs because of inflation have hurt their family budgets.
Of respondents who traveled this summer, 63% said they did so within the state.
“We see that due to inflation, Floridians who traveled for vacation this summer adjusted their plans. The good news is that those who traveled stayed close to home, which certainly helped Florida’s economy.”
Nearly 48% of respondents said they shortened a previously planned trip because of higher costs. About 62% said higher gas prices made them rethink summer vacations.
Less than a quarter of those surveyed said their vacation travel plans were not altered by recent inflation.
While inflation may be altering travel plans, a bummer for those affected, experts suggest those within the hospitality and tourism sector have some long-term hope.
Source: floridapolitics.com
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Jax Chamber
As chief innovation officer at the Jax Chamber, Carlton Robinson has been a vocal advocate of the utility of web3 technology for businesses for some time.
JBJ sits back down with a vocal Jax web3 proponent to see if crypto winter has changed his thinking. Read More
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Disclaimer: Crypto Flo DOES NOT provide financial advice. All content is for informational purposes only. Crypto Flo is not a registered investment, legal, or tax advisor or a broker/dealer. Trading any crypto-related asset is extremely risky and could result in significant capital losses.