DeFi has grown exceedingly fast — and when this happens, it’s inevitable that teething problems will emerge. Here, we talk to Piers Ridyard, the CEO of Radix. He tells us what his company is doing to address some of the main pain points in this sector — and the challenges that consumers and developers currently face. 1. Hello! Can you tell us about Radix? Absolutely. Radix is the first public decentralized network built specifically to serve decentralized finance (DeFi). This was necessary because with DeFi on Ethereum, building sucks — there have been over $285 million in hacks in the …
Nonfungible tokens (NFTs) have taken the world by storm as stories of record-breaking digital art sales now regularly appear on mainstream news outlets and popular culture. One project that has been well-positioned for years to capitalize on this growing trend is Enjin Coin (ENJ), whose co-founder Witek Radomski was also involved in the development of the ERC-1155 token standard, which enabled the creation of NFTs on the Ethereum (ETH) network. Data from Cointelegraph Markets and TradingView shows that the price of ENJ has risen by 800% in the past month, going from a low of $0.34 on Feb. 23 to …
The dog-themed race up the cryptocurrency charts came to an abrupt halt on May 12 as a majority of the previously hot meme tokens including Shiba Inu (SHIB) and Dogelon Mars (ELON) saw their prices drop more than 40% with Ethereum (ETH) co-founder Vitalik Buterin emerging as the main culprit behind the selloff. Data from Cointelegraph Markets and TradingView shows that the price of SHIB has fallen 40% and now trades near $0.00002 while the price of Akita Inu (AKITA) has declined 50% and ELON has collapsed by 90%. A number of observant crypto pundits noticed large movements coming from …
Ethereum (ETH) co-founder Vitalik Buterin has proposed a new limit on the total transaction calldata in a block to decrease the overall transaction calldata gas cost over the ETH network. Buterin’s post on the Ethereum Magicians forum, EIP-4488, highlights concerns regarding high transaction fees on Layer-1 blockchains for rollups and the considerable amount of time to implement and deploy data sharding: “Hence, a short-term solution to further cut costs for rollups, and to incentivize an ecosystem-wide transition to a rollup-centric Ethereum, is desired.” While the entrepreneur cited an alternative wherein the gas costs parameters could be decreased without further adding …
The infamous transaction fees of the Ethereum (ETH) ecosystem underwent a decremental phase from Jan. 10 to record the lowest average and median fees of $14.17 and $5.67 — lowest since September 2021. Data from Blockchair shows that the average transaction fee of ETH in January was $53.03, which at its peak was $70.83 back in May 2021. Just within a month, the average fees saw an almost 73.3% decline as evidenced by the following chart. Additionally, the resultant median transaction fee also witnessed an 81.02% drop from January’s $29.88. In the last six months, ETH’s median transaction fee was …