Attracting liquidity has become a de facto arms race in the growing decentralized finance (DeFi) landscape. Projects constantly battle to attract investors funds by offering enticing yields for crypto holders willing to take a risk and lock up their assets and protocols use this funds to build out their products and attract attention from larger investors. One protocol that has been gaining traction in the total value locked (TVL) race is MetisDAO (METIS), a layer-two rollup platform designed to fully support the application and business migration from Web2 to Web3. Alongside the growth in the TVL on its protocol, the …

The Ethereum upgrade that introduced a partial network fee burning mechanism in August last year has launched on the layer-two scaling network Polygon. Ethereum’s EIP-1559 upgrade shipped with its London hard fork last summer and has been a success in terms of gas price predictability and network fee burning. The upgrade has now launched on the layer-two scaling network Polygon in an effort to improve “fee visibility”. It went live about an hour ago at block 23850000. The Polygon team announced the upgrade date on Jan. 17, following its successful deployment on the Mumbai testnet. The EIP-1559 upgrade introduces the …

On Monday, Polygon (MATIC), a layer two Ethereum (ETH) scaling solution known for its fast transaction times and negligible gas fees, announced the launch of Plonky2, a zero-knowledge scaling technology claimed to be the fastest in the world. Zero-knowledge algorithms ensure everything is correctly computed on layer two and return the succinct proof to Ethereum without sending the entire data. Instead of every miner, or staker, verifying every posted transaction, zero-knowledge allows the verification of simplified rolled-up proofs, thereby significantly speeding up the overall network. 1/2 We are proud to announce Plonky2, the world's fastest ZK scaling tech! Plonky2 is …

The Ethereum layer 2 network Arbitrum has suffered its second outage in less than five months following a hardware failure. Arbitrum is back online at the time of writing but the team did report some downtime during the late hours of Jan. 9. The timing of the tweets suggests that the network was down for around seven hours. At the time, the Offchain Labs platform reported that it was experiencing some issues with the sequencer which prevented transactions from being processed for the period. We are currently experiencing Sequencer downtime. Thank you for your patience as we work to restore …

The prospects of Ren (REN) continuing its ongoing rebound to fresh highs appear slim as a classic bearish reversal pattern begins to emerge. Dubbed head and shoulders, the setup appears when the price forms three peaks, with the middle peak (called the head) longer than the other two peaks described as the left and right shoulders. The bottoms of these peaks are supported by a neckline. The pattern comes into play primarily when the price breaks below the neckline in a correction that follows the formation of the right shoulder. That prompts traders to open short entries below the neckline, …

Coinbase Chief Product Officer Surojit Chatterjee is the latest to publish his predictions for the crypto industry in 2022 and he foresees major advances in the scaling of Ethereum. Industry leaders, analysts, and investors are sharing their 2022 predictions for the crypto ecosystem, and Coinbase’s Surojit Chatterjee is confident that Ethereum will be at the forefront of Web3 and the crypto-economy as it scales. The CPO shared his predictions in a company blog post on Jan. 4 in which he stated that Ethereum scalability will improve but alternative layer 1 networks will also see traction. “I am optimistic about improvements …

Ethereum-based layer two scaling network Polygon has quietly fixed a vulnerability that put almost $24 billion worth of its native token MATIC at risk. According to a Dec. 29 blog post from Polygon, the “critical” vulnerability in the network’s Proof-of-Stake (PoS) Genesis contract was first highlighted by two whitehat hackers on Dec. 3 and Dec. 4 via blockchain security and bug bounty hosting platform Immunefi. All you need to know about the recent Polygon network update. ✅A security partner discovered a vulnerability ✅Fix was immediately introduced ✅Validators upgraded the network ✅No material harm to the protocol/end-users ✅White hats were paid …

Polygon (MATIC), a layer-two network designed for scaling and application infrastructure development on Ethereum (ETH), has been making rounds among blockchain enthusiasts as of late. From its $1 billion investment into zero-knowledge technology to co-launching a $200 million Web 3.0 social media initiative and up to integrating with Opera's web browser to make its decentralized apps accessible to 80 million Android mobile users, the network's momentum is going strong. But partnerships and business aside, the technological capacities of the network, especially when compared to Ethereum, are also attracting the attention of many blockchain developers. In an exclusive interview with Cointelegraph, …

On Wednesday, Psychedelic, a Web 3.0 development studio building solutions for the Internet Computer, launched Terabithia, a cross-chain contract communication and asset mirroring protocol. Beginning with the Internet Computer (ICP) and Ethereum (ETH), users will have the ability to mirror and use any ETH tokens, fungible and nonfungible, on the Internet Computer blockchain and vice versa, effectively turning ICP into a layer-two scaling solution for ETH. The protocol attempts to tackle the problem of Ethereum network congestion and high gas fees. The Internet Computer, meanwhile, uses a "reverse gas model" where developers supply the funds needed to run the applications …

On Wednesday, Opera, an internet browser with Web 3.0 application support and a built-in crypto wallet, announced an upcoming integration with Polygon (MATIC). The integration, which is scheduled to go live in the first quarter of 2022, will first open Polygon's ecosystem to Opera's over 80 million users on the Android mobile, then to the rest on other devices and platforms. Polygon is a layer two Ethereum (ETH) scaling solution designed for lower gas fees and faster transaction times. Through the integration, Opera users will be able to access Polygon decentralized applications, or dApps, such as Sushiswap, Curve, and Aave, …

With the combination of crypto adoption verging on mainstream, a chase for double and even triple digital earnings and solutions providing real utility to a centralized industry, DeFi (decentralized finance) is positioned to outpace its growth from the 2021 year significantly. Unfortunately, this growth, although unprecedented, has also proven to raise some causes for concern. Already congested networks like Ethereum (ETH) are being pushed to their limits with an increasing number of applications and users transacting on them. Since the capacity of Ethereum is limited, users are forced to face the realities of shower transaction times and rising gas fees …

Cryptocurrency prices and investor sentiment reversed course on Dec. 15 after Federal Reserve chairman Jerome Powell confirmed the bank's plan to hike interest rates in 2022 and slow down the bond purchasing program that had been in play since the emergence of the coronavirus in March 2020. Following the announcement, Bitcoin (BTC) price tacked on a 1.65% gain, bringing the price above $49,000 and Ether trekked back above the $4,000 mark. Altcoins followed suit with their usual double-digit gains and for the moment, it appears as if bulls have taken back control of the market. Data from Cointelegraph Markets Pro …