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Shadow Fork Successfully Launched Ahead of ETH Shanghai Upgrade

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Shadow Fork Successfully Launched Ahead of ETH Shanghai Upgrade


Too many dramas in the crypto market seemed to take the shine off the promising aspects over the past few months.

Many projects have been putting their efforts into strengthening their systems and improving their products. The latest one that has made progress is Ethereum.

Here Comes The Ethereum Upgrade

Ethereum’s developer Marius Van Der Wijden announced today that the team successfully ran a “shadow fork” of the Shanghai upgrade.

The shadow fork is a copy of the mainnet that allows developers to test changes and upgrades. The results from those shadow forks help developers check and fix issues with the changes before the mainnet goes live.

Van Der Wijden said that there were a few minor issues when applying config on Geth, an Ethereum execution client but those problems were fixed briefly.

The developer also noted more tests would come to deliver sufficient safe and proper functionality.

To wit,

“It started out with a few issues because the config wasn’t correctly applied on geth (we disallow overriding the mainnet config). The config is applied correctly and all nodes are in agreement.”

In January 2023, Ethereum launched a testnet of Shanghai hard fork to experiment and troubleshoot bugs in Shanghai’s code.

According to the team’s original plan, another testnet will be released by the end of February. This testnet is aimed at enabling ETH staking projects to test and ensuring that the upgrade will go smoothly.

The Shanghai upgrade will be one of the most expected event among Ethereum community following The Merge. This major event is scheduled for March 2023.

A Big Deal

The upgrade gets lots of attention because it will include the EIP-4895 proposal, allowing those who have participated in staking ETH into the Ethereum 2.0 contract to withdraw funds, as well as staking rewards.

Since November 2020, Ethereum has made the staking contract for ETH 2.0 available to its users in order to support The Merge.

According to the statistics provided by Glassnode, the entire amount locked is greater than 16.1 million ETH, which had a value of $26.2 billion at the time this article was written.

Sparks of Hope

Adverse macroeconomic conditions, along with the inherent vulnerabilities of a fledgling industry, led to a serious crisis in the crypto sector.

Recently, there has been a surge in interest in cryptocurrencies, fueled by shocking events, curiosity about the aftermaths, and, of course, the assumption that the market will rebound. Whatever the reasons, this crisis offers opportunity.

Ethereum is the dominant altcoin and the second largest cryptocurrency. Ethereum, like Bitcoin, can serve as an excellent barometer for the crypto sector.

Since its debut in 2015, the cryptocurrency’s value has skyrocketed. Though Ethereum is still far from all-time highs, the price of Ethereum is expected to rise dramatically for the remainder of 2022.

Despite the fact that both of the top two cryptocurrencies by market capitalization have made technical advances, Ethereum is gaining a competitive advantage and is threatening Bitcoin’s throne.

JP Morgan said in December’s statement that the successful consolidation of the Ethereum network would be a catalyst for the development of the cryptocurrency market in the next 6-12 months.

The leading bank also noted that the fact that large organizations begin to shift their money to real projects instead of speculation will help digital currencies be more applied to life.

A bet on Ethereum’s future is supported by its recent transition to a less energy-intensive version. The Merge upgrade – the shift from Proof-of-Work to Proof-of-Stake promises to make the network more efficient, faster and cheaper to use.

With Shanghai right around the corner, the next upgrade for Ethereum is getting ready to roll out. During the upcoming hard fork, the primary focus will be on facilitating the withdrawal of ETH that has been staked.


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How to Give Bitcoin or Another Cryptocurrency as a Gift Using BitCard – Press release Bitcoin News

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How to Give Bitcoin or Another Cryptocurrency as a Gift Using BitCard – Press release Bitcoin News

PRESS RELEASE. As Bitcoin and crypto grows in its appeal and global use by individuals, businesses and merchants from all places and corners of the world, the desire for them also increases. Now, perhaps more than any other time in history, digital currencies like BTC, ETH and others, are in demand.

The internet has been actively progressing into underlying web 3 standards, and digital assets are increasingly utilized as the underlying money employed by various virtual platforms. The news and media are reporting about crypto more, people are becoming more aware, and therefore interest in crypto seems to be brewing, even as regulatory standards are being formed real-time.

As People Gain Understanding, Crypto Gains Further Adoption

As with all new concepts, as public education and awareness of cryptocurrencies steadily increases, fear and uncertainty around crypto is being settled for many. As a result, more people are becoming willing to interact with cryptocurrencies for their utility within digital ecosystems, trading, investing, alternative payment processing and more.

As more people and businesses begin using crypto themselves, they are also beginning to share them at a greater rate with others. Bitcoin gift cards have arisen as a popular method of sharing BTC and other popular cryptocurrencies with friends, family, co-workers, clients, staff and others.

Why Bitcoin Gift Cards Are Growing In Popularity

BTC gift cards have increased in their draw and popularity since first reaching the market in the early 2010’s. Now, with more than a decade on the market, gift cards with denominations redeemable in BTC, ETH, and even stablecoins like USDC others, the overall proposition has been implemented, and furthermore developed, by platforms like BitCard®.

BitCard® is a US-based BTC gift card distributor and B2B supplier that gives the end user several ways to take advantage of BTC gift cards for themselves personally, or to gift others individually, or even in an effort to build or expand existing loyalty and rewards programs. Over the last decade-plus several companies have looked for ways to implement gift cards purchased and furnished with digital assets to satisfy the desire many have to gift with alternative means than other traditional methods.

Additional Ways To Gift With Bitcoin And Cryptocurrency

While it isn’t very attractive in terms of the packaging, people can always elect to send cryptocurrency directly to others they wish to gift as an alternative to putting the crypto in gift card form. While it isn’t the most sophisticated way of giving, the desire to produce a gift that one has genuine interest in would be accomplished by such means.

In addition to sending BTC or other cryptos directly, crypto could also be put into other forms in order to accomplish the goal. NFTs and other on-chain digital assets can sometimes be relatively less-impacted by the volatility typically associated with the cryptocurrency market in general. This means that as Bitcoin price fluctuates, or any other associated digital asset, the value of the gift could remain at or near the original dollar value of the intended gift – or in some cases, increase.

Although it involves the same method of gifting with gift cards, some platforms such as BitCard® enable the end user to not only gift in physical cards but also digitally produced Bitcoin gift cards as well. While the effect may be different, particulars such as borderless, global and near-instant transmission could prove to be immensely beneficial in some instances.

More Than Gifting

Not only can crypto be loaded onto gift cards, but BTC and additional cryptocurrencies can also be implemented in customer loyalty, employee incentives, and other rewards programs. Even in this form, crypto could still be seen as a gift, as it is given to individuals, customers, clients or others as a reward, bonus, or incentive.

As cryptocurrency continues to be used on a global scale at an increased rate by businesses and individuals throughout the world, perhaps even more methods of gifting will be developed and one day become mainstream gifting alternatives. For now, crypto and BTC gift cards, crypto itself, crypto converted into other forms, and rewards, loyalties and incentives are the most popular ways to give the gift of crypto for most.

 

 

 


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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Polygon Derivatives DEX Gains Network Crosses $1.5B in Trading Volume on Arbitrum

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Polygon Derivatives DEX Gains Network Crosses $1.5B in Trading Volume on Arbitrum


Over $220 million in trading volume was processed in the past 24 hours. Over $120 million of that came from crypto derivatives and $70 million from products tracking foreign currency (forex), with the remaining spread over US-listed stocks, such as Apple (APPL) and Amazon (AMZN), and indices.


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State senator pushes bill to make Bitcoin legal tender in Arizona

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State senator pushes bill to make Bitcoin legal tender in Arizona


Wendy Rogers, an Arizona state senator in the United States, has launched bills concerning cryptocurrency, including one that aims to make Bitcoin (BTC) legal tender in Arizona. 

In a recent tweet, Rogers cited data from investment firm Goldman Sachs that BTC is the best-performing asset in the world and announced that she launched a set of crypto bills.

One of the proposed bills focuses on making BTC legal tender in the U.S. state. If passed into law, BTC will have the same status as the U.S. dollar, becoming an accepted medium of exchange for debt payment, public charges, taxes and dues in the state. 

In 2022, the state senator also introduced a similar bill without success. Despite this, Rogers still continues efforts to push BTC forward in the state. In April 2022, Rogers spoke against central banks and voiced her support for Bitcoin. She tweeted:

Apart from this, Rogers also participated in introducing a bill that seeks to make crypto a tax-exempt property. If approved, voters can decide in 2024 if they want tokens that do not represent foreign currencies or the U.S. dollar to be exempt from taxes. 

Related: US Senator Ted Cruz pushes for crypto in Congress … using snacks

On Sept. 7, 2021, El Salvador officially made Bitcoin a legal tender in the country. More than a year later, making Bitcoin legal tender in the country proved beneficial. El Salvador experienced increased tourism in 2022, with 1.1 million people visiting the country in the first half of the year.

On Jan. 22, Brazil and Argentina announced preparations to create a common currency parallel to the Brazilian real and the Argentine peso. Responding to this, Coinbase CEO Brian Armstrong suggested that moving to Bitcoin may be the right “long-term bet” for both countries.


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