Ethereum is one of the prominent blockchains in the crypto industry that established smart contract technology. This helped consolidate decentralized finance and checkmate third-party interference in cryptocurrency transactions. But in the past, its main challenge and setback were linked to scalability and speed in executing transactions. As the months and years roll by, Ethereum is making tremendous progress in tackling scalability issues. This led to the rolling out of the layer-two version of the blockchain. Related article | Is Norton 360 Mining Ethereum In Your Computer? If It Is, They’ll Take a 15% Cut With the new year’s kick-off, many individuals have shared their predictions and expectations for the crypto industry in 2022. Some of these individuals include investors, analysts, and industry leaders. Among the several comments comes the latest publish from Surojit Chatterjee, the Chief Product Officer of Coinbase. Chatterjee predicts major advances for the scalability of Ethereum. Sharing his predictions on Tuesday through a company blog post, the CPO expressed his confidence in Ethereum. He mentioned that the blockchain’s scalability would push it ahead of Web3 and the crypto economy. Furthermore, he was confident that there would be an improvement in Ethereum’s scalability. Also, he stated possible traction for alternative layer-one networks. Further in his post, the CPO commented on the emergence of newer layer-one networks based on social media and gaming. He explained that advancing from layer-one to layer-two bridges will propel a vast improvement for scalability. Moreover, he anticipated a situation where the industry has a desperate search for advancement in speed and the utility of cross-L1 and L1-L2 bridges. Benefits Of Cross-Bridges For Ethereum Scalability Using these bridges will facilitate the easy transfer of tokens from a layer-one (L1) network like Ethereum to a layer-two (L2) network like Arbitrum. Also, it enables reverse transactions between the bridges. For companies like Matter Labs, 2021 saw its tremendous advancement. The firm developed and deployed its layer-two platform based on zkSync rollup to achieve its great feat. Generally, 2021 was a year of massive expansion for the layer-two ecosystem as all the major platforms have a surge in adoption. The tracker for layer-two ecosystems, L2beat, reports almost an 11,000% increase in total value locked for the past year. This brought the value by 2021 to $5.5 billion against $50 million by January 2021. Concerning scaling technologies, Chatterjee picked out zk-Rollups as he mentioned their attractive capacity for users and investors. He explained that the scalability of Zero-knowledge compiles transactions data in batches. This will enable efficiency in their processing on L1 of Ethereum. Furthermore, Coinbase CPO foresees the emerging of more privacy-focused applications. However, he mentioned that it would lead to more attention from the regulatory bodies since there are enforced restrictions through KYC and Anti-Money Laundering (AML). Related article | More Green Energy: Crypto Mining Saves A Hydro Power Plant In Costa Rica Chatterjee has other predictions, including increased industry regulations, more DeFi insurance, and more institutional involvement in DeFi. Others are shifts to Web3 by Web2 companies, more brand participation in metaverses, and non-fungible tokens (NFTs). Featured image from Pexels, Charts from TradingView.com
Garena has successfully shipped the Free Fire OB32 Advance Server, where you can easily test out the forthcoming content of the game. To get your access to the Advance server you will need to register for the Advance Server on Garena’s official website, where you would get your activation code if only you are approved […]
It is no surprise that central bank digital currency (CBDC) will be a game-changer for international and local businesses. Then regulators, consumers, and other stakeholders. Basically, CBDC is a digital form of fiat currency issued by a country’s central bank. It was trialed in China and is being explored in many other economies. That said, different trials are being scheduled for CBDCs […]
Vanda Pharmaceuticals Inc. announced the settlement Friday of a multiyear patent dispute with MSN Pharmaceuticals and Impax Laboratories, based in part on a future licensing agreement with MSN and Impax covering Vanda's Hetlioz product, used for some types of sleep-wake disorders.
Sony is reportedly revising its subscription services, with a new initiative codenamed Project Spartacus being touted behind closed company walls. This, it’s rumoured, will phase out streaming option PS Now and create three new PS Plus tiers. For many, the service will remain unchanged, offering the existing mix of discounts, cloud saves, and monthly games. However, an additional tier will see the inclusion of a library of PS5 and PS4 games, while a third premium option will promise features like streaming, extended demos, and access to retro titles.
Of course, this is all according to preliminary documentation obtained by Bloomberg, and it sounds like the platform holder is still devising the final details. Change does appear to be afoot, however, as evidenced by the recent removal of annual PS Now memberships from retail chains, and its reluctance to discount the service’s 12-month tier in recent promotional periods. Clearly, the manufacturer will phase that service out at some point in 2022.
North American esports organisation FlyQuest has named financial company Mastercard as the official financial services partner for its League of Legends teams. Alongside the partnership announcement, Flyquest also revealed its new jerseys. Mastercard’s logo will be featured on FlyQuest’s League of Legends jerseys throughout the 2022 LCS Season. RELATED: FlyQuest unveils rebranding ahead of LCS […]