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The rise of cryptocurrencies was pioneered by the birth of Bitcoin. The digital asset was developed by Satoshi Nakamoto to offer an antithesis of traditional monetary systems such as fractional reserve banking. Ever since the technology has become one of the largest investment hubs that enterprising individuals use as a vehicle against inflation as well as for its impeccable capital gains. Some of the top projects investors are looking into for potentially high returns include Bitcoin Spark and Ethereum.

Ethereum is a decentralized smart contract platform that powers the development of decentralized applications (dApps). The DeFi project was developed by Vitalik Buterin, who had a vision of making the blockchain more scalable than Bitcoin. Ethereum uses a Proof of Stake consensus mechanism to validate and verify transactions on its network. Validators lock their Ethereum (ETH) in exchange for rights to approve transactions and the addition of new blocks to get tokenized ETH rewards.

While Bitcoin and Ethereum are the largest crypto projects in existence, they typically have small returns on investment. For this reason, investors switch to upcoming projects like Bitcoin Spark, which have the tendency to produce massive gains as they grow their market cap and gain massive adoption.

Bitcoin Spark is aimed at inhibiting the advantages of the Bitcoin network and the Ethereum mainnet. Bitcoin Spark uses a proof-of-process consensus mechanism which incorporates both Proof of Work and Proof of Stake methods alongside a rare mathematical algorithm. The network has both miners and validators manning transactions and adding new blocks to the blockchain. Earnings are controlled by the algorithm, which standardizes returns from both miners and validators.

Bitcoin Sparks tokenomics resemble that of Bitcoin. However, Bitcoin Spark has allocated more tokens to rewarding its network participants. The native token of Bitcoin Spark is BTCS. There are 21 million BTCS tokens that are currently powered by the Ethereum mainnet. From this supply, 4.55 million tokens have been dedicated to the launch supply, to which 4 million tokens will be sold to early investors during the incoming ICO. The ICO is expected to commence on the 1st of August, giving investors a chance to collect BTCS tokens at a discounted rate of as low as $1.50. During the ICO phases, Bitcoin Spark Team will issue frequent bonuses to award early adopters for their participation.

Unlike Bitcoin and Ethereum, Bitcoin Spark will have two streams of income that will allow the community members to earn passive income. First, Bitcoin Sparks mining participants will lend out processing power to individuals, groups, and organizations for organized virtual infrastructure development activities. These activities include video rendering and resource-hungry simulations.

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The platform will also have advertisement slots on the Bitcoin Spark website and mobile applications that will be actively managed by the community members. Ads will be voted in or out and priced differently depending on the demand. Anyone holding BTCS tokens will be allowed to vote. Ads that will violate the communitys guidelines will be voted out, and 85% of the amount paid will be refunded to the advertisers. The remaining 15% will be distributed to wallets that voted the ad out.

Bitcoin Spark is slowly showcasing its intentions to shape the crypto industry. Like Bitcoin, it is a first market mover and hence bears a lot of potential as far as its market upside is concerned.

Website: https://bitcoinspark.org/

Crypto News Flash Disclaimer: This publication is sponsored. Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should conduct their own research before taking any actions related to the company. Crypto News Flash 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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Learn How To Create Generational Wealth With Ethereum and ... - Crypto News Flash

The end of July 2023 marked Ethereums eight-year anniversary since its genesis block. Over the years, the project has championed blockchain and smart contract technology and has provided the crypto community with the tools to disrupt the global finance system.

This article takes you on a captivating journey through Ethereums major milestones and achievements from its inception to its darkest hour during the DAO hack to the highly-anticipated Merge.

Although it has been eight years since the first Ethereum block in July 2015, the history of Ethereum goes back even further to late 2013 when Vitalik Buterin released its whitepaper.

It was roughly five years after the appearance of Bitcoin in 2008. At the time, Buterin proposed to build an alternative blockchain for building decentralized applications (dApps). Buterin argued that Bitcoins use of scripting language limited its capabilities. As such, Ethereum had to be created from scratch with a built-in Turing-complete programming language while adopting tested cryptographic concepts such as the proof-of-work (PoW) consensus mechanism.

Buterin described Ethereum as

A blockchain with a built-in Turing-complete programming language, allowing anyone to write smart contracts and decentralized applications, where they can create their own arbitrary rules for ownership, transaction formats and state transition functions.

Soon enough, the Ethereum Foundation was founded in 2014. The core members of the Ethereum development team consisted of Buterin, Anthony Di Lorio, Charles Hoskinson, Mihai Alisie, Gavin Wood, and Joseph Lubin, among others.

On 22 July 2014, the Ethereum Foundation announced a 42-day-long ether (ETH) sale. The price of ETH was initially set to 2,000 ETH per 1 BTC for the first 14 days, before declining to 1,337 ETH per 1 BTC by 2 September 2014.

It is estimated that the ether sale raised more than $18.3 million in BTC by selling more than 60 million ETH. Over 6,600 transactions occurred in the sale as people swapped their BTC for ETH.

Fast forward to 2016, Ethereums blockchain was up and running and gaining momentum. A decentralized autonomous organization (DAO) called The DAO was created in April 2016 via a token sale.

The DAO, which was created to act as a venture capital firm for the Ethereum ecosystem, saw immense interest and raised over $150 million in ETH from over 11,000 participants in its 28-day funding window.

Less than three months after its launch, The DAO was attacked by unknown hackers who exploited a bug in its smart contract. Over $60 million in ETH (one-third of the funds raised) was stolen in the infamous DAO hack. At the time, The DAO held roughly 15% of all ETH tokens and was the most heavily invested Ethereum project.

The failure of The DAO marked Ethereums first existential crisis, one which would lead to a split of the one-year-old blockchain.

Following the DAO hack, the Ethereum community faced a predicament. Core Ethereum developers saw that the only solution to retrieving the lost funds was to fork the Ethereum blockchain. In doing so, a new blockchain would be created, which basically took back all the stolen funds from the hacker and redistributed The DAO funds back to investors.

The plan sparked intense debates within the Ethereum community, resulting in a division between two opposing factions: the pro-forkers and the anti-forkers.

The central point of contention revolved around the concept of blockchain immutability.

The Ethereum community was called upon to vote whether to fork or not fork. 87% of the participants voted to fork the chain.

On 20 July 2016, Ethereum completed its hard fork to create a new version of the blockchain. The original, unforked chain went on to be known as Ethereum Classic.

Ethereum made headlines for the right reason in 2017 and 2018 as thousands of crypto projects tapped into the power of Ethereum smart contracts to launch their own tokens.

Billions of dollars were raised as ICOs became a popular way to raise funds. This period gave rise to a number of successful projects such as Filecoin, Tezos, and Bancor while also giving the world failures such as Sirin Labs, and Dragon Coin.

2020 saw a time when decentralized finance (DeFi) protocols came of age as user participation and capital in the fledgling industry grew exponentially. According to Decrypt, at the start of 2020, only $700 million was locked into various DeFi smart contracts. That figure ballooned to about $15 billion by the end of the year.

The year saw prominent DeFi protocols like Compound, Aave, and yearn.finance launch their governance tokens. Yield farming became popular among crypto degens looking to make a quick buck off their interest in cryptocurrencies. Decentralized exchange (DEX) trading volume surged, and meme coins investingtook off.

All of this was happening on the hottest blockchain at the time Ethereum.

Although the NFT culture was growing infectiously within the crypto community since 2018, 2021 was the year that the outside world got engulfed in the hype. Millions of NFT projects began popping up as Ethereums ERC-721 token standard made it easy to mint NFTs on the blockchain.

CryptoPunks and Bored Ape Yacht Club became status symbols on social media. Renowned auction house Christies sold Beeples Everdays: The First 5000 Days for a whopping $69.3 million. Nike took its first steps into the blockchain world by acquiring the digital art studio RTFKT.

By the end of the year, nearly $41 billion was spent on NFTs.

The explosion of NFT sales and DeFi transactions had resulted in gas fee spikes on Ethereum. In order to address this problem, EIP-1559 was implemented in August 2021, which introduced a base fee and miner tip to make gas fees stable and predictable.

EIP-1559 also made ETH more scarce by introducing a mechanism to burn all the base fees paid in a transaction.

On 16 November 2021, the ETH price hit an all-time high of $4,891.

In 2022, all the Ethereum community could talk about was The Merge Ethereums long-awaited transition from PoW to the proof-of-stake (PoS) consensus mechanism.

Work on The Merge was ongoing before 2022. The Beacon chain the original Ethereum PoS blockchain launched in 2020 and was running simultaneously alongside the Ethereum main net. It was extensively tested with real-world data.

On 15 September 2022, the Beacon chain merged with the Ethereum mainnet to complete Ethereums transition to the PoS consensus mechanism. As a result, miners were replaced by validators, the energy consumption of the network was reduced by over 99%, and Ethereum became more scalable.

The Merge was a major step in Ethereums aim of achieving mass scale. Now, the community is focused on developing the rollup technology to help Ethereum reduce gas fees and increase transaction throughput.

Rollups are layer-two blockchains that bundle hundreds of transactions off-chain and submit them to the main chain (Ethereum) as a single transaction, resulting in cheaper gas fees for the end user. The two most prominent rollup technologies being used are optimistic rollups and ZK rollups.

Upcoming upgrades on Ethereum are all geared toward supporting its rollup-centric roadmap.

Ethereums journey from its inception to the present day has been nothing short of remarkable. The platforms introduction of smart contracts and decentralized applications, the success of DeFi and NFTs, and the ongoing rollup-centric scaling plan showcase its transformative impact on the blockchain and decentralized technologies.

More:

Ethereum's Birthday Special: 8 Years of Decentralization - Techopedia

United States, 4th Aug 2023, King NewsWire

Snek on Ethereum, a ground-breaking blockchain project, based on SNEK on ADA (although not affiliated with them), dedicated to revolutionizing decentralized finance, proudly announces the launch of its MemeCoin, $SNEKE. With an innovative approach to token trading, user-friendly features, and a vibrant community, Snek on Ethereum is set to redefine the future of blockchain technology. The dedicated team of developers bring together a community of cryptocurrency enthusiasts in a fun and engaging manner, offering a unique twist to the meme coin phenomenon. Sneke takes advantage of the secure and decentralized infrastructure provided by the Ethereum blockchain.

With a maximum quantity of 76,715,880,000 tokens, Snek on Eth creates a shortage that would boost its long-term worth. To ensure liquidity, Uniswap Liquidity Provisioning (LP) will get 85% of the token supply, and 8% goes towards marketing initiatives, assuring growth and visibility. Also a reserve of 5% is set up for unforeseen opportunities and costs, including new collaborations, expansion, and listings. The remaining 2% is reserved for creator awards and is locked for a year in order to honour Snek on Eths creators.

Also, the blockchain project recently launched its highly anticipated exchange on the P2PB2B platform which will be available to users starting from 8th of August, 2023. This new development will open up exciting opportunities for crypto enthusiasts to trade various tokens and participate in the projects growing ecosystem. The exchange launch on P2PB2B signifies a significant milestone in the projects journey. P2PB2B is a reputable and user-friendly cryptocurrency exchange that caters to a global audience. By collaborating with P2PB2B, Snek on Ethereum aims to provide a secure and efficient trading platform for its users.

The Snek on Ethereum website, accessible at

https://www.snekonethereum.com/, presents users with the freedom to buy and swap tokens effortlessly. Through their dedicated swap page (https://www.snekonethereum.com/swap.html), users can effortlessly swap tokens, facilitating portfolio diversification with ease. The user-friendly interface streamlines the process, enabling both experienced traders and newcomers to participate in the exciting world of Meme coins.

The website is designed to provide an immersive and intuitive user experience for crypto enthusiasts. By leveraging cutting-edge blockchain technology, Snek on Ethereum aims to empower users to participate in a secure, transparent, and efficient manner. The website boasts a range of exciting features and opportunities, including meme token trading, swapping, and a thriving ecosystem.

The platform has gained a huge collection of $SNEKE Pals NFTs through the in-house digital artist- @netnft. It has a collection on NOUNS, which offers holders 1 vote per held NFT which can be used to vote and set proposals for the future of $SNEKE. $SNEKE Pals can also be obtained through MintASneke.com.

A Sneke Pal NFT, representing a cooking DEV

Sneke team understands the importance of fostering a vibrant community, and the team is dedicated to building a strong network of like-minded individuals. This community-driven approach positions Sneke as a memecoin that not only offers entertainment value but also cultivates a sense of belonging and inclusivity among its users.

To further engage with its growing community, Snek on Ethereum recently launched a Twitter contest

(https://twitter.com/snekonethereum/status/1686968430719647744?s=20) and exiting bonus for new holders up to Sept. 1, 2023. New DAO NFT holders are eligible to win 100M $SNEKE. This initiative aims to foster active participation and create brand awareness across social media platforms. Participants have the opportunity to interact with the Snek on Ethereum community and win exciting prizes, further enhancing their connection to the project.

About Snek on Ethereum:

Snek on Ethereum is an ambitious blockchain project committed to transforming the world of decentralized finance. By leveraging the power of blockchain technology, Snek on Ethereum aims to provide a secure, transparent, and user-friendly ecosystem for token trading and swapping. With a vibrant community and strong partnerships, Snek on Ethereum is well-positioned to become a driving force in the DeFi landscape.

For more information, visit- https://snekonethereum.com

Organization: Matt Stamper, CPA

Contact Person: Matt Stamper

Website: https://snekonethereum.com

Email: [emailprotected]

Contact Number: +161582224326

Country: United States

Release Id: 0408235292

The post Snek On Ethereum: An Exciting ERC-20 Meme Project Launches To Take Trading of Meme Tokens To The Next Level appeared first on King Newswire.

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Snek On Ethereum: An Exciting ERC-20 Meme Project Launches To ... - News Channel Nebraska

Among the plethora of digital assets, there are some Ethereum tokens that have emerged as prominent players, each offering unique concepts, use cases, and real-world applications.

In this article, we will delve into the fundamentals of LIDO, MakerDAO, and AAVE tokens. Lets take a look at these Ethereum Coins.

LIDO is a decentralized finance (DeFi) protocol that bridges the gap between staked assets and liquidity. Staking is a process wherein cryptocurrency holders lock up their tokens to support the networks security and receive staking rewards. However, staked assets are typically illiquid, preventing users from accessing their funds without unstaking and waiting for a specific time period. LIDO tokenizes staked assets, allowing liquidity providers to deposit their staked tokens in exchange for LIDO tokens, which represent a share in the staked pool.

The LIDO token offers several compelling use cases. Firstly, LIDO tokens can be utilized as collateral in various DeFi applications, unlocking a wide range of financial possibilities. Moreover, LIDO allows participation in staking for smaller investors who may not meet the minimum staking requirements of certain networks.

As of the latest developments, LIDO has been steadily expanding its offerings to support additional staking assets. Ethereum 2.0 staking is already operational, and the project has been working to integrate support for staking assets on other blockchain networks. Broadening its reach and appeal to a more extensive user base.

MakerDAO is a groundbreaking decentralized autonomous organization (DAO) that operates on the Ethereum blockchain. At its core, MakerDAO is designed to enable the creation of the DAI stablecoin, which is pegged to the US Dollar. The system operates through smart contracts and collateralized debt positions (CDPs). Users deposit Ethereum (ETH) as collateral and generate DAI tokens based on that collateral. The entire process is governed by the MKR token holders, who participate in decision-making and risk management within the DAO.

The MakerDAO ecosystem presents several significant use cases. Firstly, DAI stablecoin serves as a reliable store of value and a medium of exchange in the volatile cryptocurrency market. Additionally, MakerDAO offers users the opportunity to access liquidity without the need to sell their underlying crypto assets. This ability to generate DAI against deposited collateral has been particularly valuable in periods of market downturns or when traders seek leverage while avoiding excessive risk exposure.

The most notable recent development in the MakerDAO ecosystem has been the addition of new collateral types beyond just Ethereum. This expansion has been part of a strategic effort to diversify the collateral pool, reduce risk concentration, and enhance the stability and resilience of the DAI stablecoin. Furthermore, MakerDAO has been exploring Layer 2 solutions to address scalability challenges on the Ethereum network, aiming to improve transaction speeds and reduce fees.

AAVE is a decentralized lending protocol that enables users to lend and borrow various cryptocurrencies without the need for traditional intermediaries like banks. The protocol operates through a series of smart contracts on the Ethereum blockchain. AAVE allows users to deposit their digital assets into liquidity pools, earning interest on their deposits, while borrowers can access these funds by posting collateral.

The AAVE token presents several compelling use cases. Firstly, it facilitates passive income generation for liquidity providers who deposit their assets into the protocol, earning interest on their holdings. Additionally, AAVE enables borrowers to access liquidity without the need for credit checks or extensive paperwork, democratizing financial services and opening up opportunities for those who may not have access to traditional banking facilities.

AAVE has been actively involved in the exploration of Layer 2 solutions to address scalability challenges on Ethereum. By implementing Layer 2 scaling, AAVE aims to improve the user experience and reduce transaction fees, making the platform more accessible to a broader audience. Furthermore, AAVE has been expanding its range of supported assets to provide users with more options for lending and borrowing.

LIDO, MakerDAO, and AAVE tokens represent significant advancements in the decentralized finance space, each offering unique concepts and use cases. LIDOs liquid staking solution bridges the gap between liquidity and staked assets, MakerDAOs DAI stablecoin provides a reliable pegged asset. And AAVEs lending protocol empowers users with decentralized borrowing and lending opportunities.

For more cryptocurrency news, check out theAltcoin BuzzYouTube channel.

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Top 3 Ethereum Coins in Q3-2023 - Altcoin Buzz

Before we know it, liquid staking tokens (LSTs) are going to replace Ethereums native cryptocurrency, Ether (ETH). The LST market is already worth approximately $17 billion, and it has grown continuously since Ethereums Merge.

While LSTs are just beginning to hit their stride, their advantages over traditional ETH will soon become clear to liquidity providers (LPs), toppling ETH from its throne and ushering in a new era of LST domination.

Since the Merge, ETH can now be staked to produce a roughly 4% annual yield, depending on factors of network activity, total ETH staked, number of validators and the value captured by maximum extractable value. This development is significant because of the nature of ETH as a generally stable asset. Many cryptocurrencies are more volatile, so owners have to consider both yield and whether the price of that asset will appreciate or depreciate. Alternatively, ETH now offers yields from both staking and gradual price stability and appreciation.

Related: Lower costs, higher speeds after Ethereums Merge? Dont count on it

The new capacity to stake ETH and earn yield means that those who hold ETH today must decide: Should they provide liquidity with their ETH and hope to earn fees, or would they be better off staking that ETH and earning a surefire yield?

LSTs solve this dilemma for LPs. Unlike regular staked ETH, which is illiquid in the Ethereum staking contract, LSTs unlock the inherent value of staked tokens, giving LPs a liquid receipt token that can be freely traded and utilized as collateral within decentralized finance (DeFi) protocols. Because LSTs make staked assets liquid, they offer flexibility for tokenholders to engage in other activities across different networks while still earning ETH staking rewards.

This means that LPs can now earn the yield from staked ETH while simultaneously using LSTs to provide liquidity in automated market makers (AMMs). Critically, LSTs also offer a much lower cost to entry than regular ETH staking, which is appealing for reaching new audiences and smaller dollar investors.

The argument that LSTs will replace ETH in DeFi is evident: Any LP who chooses to supply ETH to an AMM instead of an LST is sacrificing roughly 4% APR. What kind of sense would that make for folks looking to maximize their yield?

There are undoubtedly some in this space who would argue that ETH is ETH that its the second biggest token in the cryptocurrency landscape and that its not going anywhere. But crypto is quick to evolve. This community is always looking for the next technical development that makes earning yield easier and more efficient, and when it comes down to it, LSTs offer a more effective way to earn yield.

Related: Ethereums Merge will affect more than just its blockchain

The transition to LSTs will come swiftly, but right now, its still very early days. Ethereums Shanghai upgrade, which enabled ETH to be unstaked for the first time, only happened in April. But LSTs have a much larger market potential than their current market share represents. As people become more comfortable with staking ETH now that it can be easily unstaked, I believe that we will see a rapidly growing adoption of liquid staking platforms.

The beginning of this transition can already be seen in staking trends in the post-Shanghai world. In 2023 alone, the ETH deposited with the Lido protocol has increased from 4.9 million to 8 million, representing more than 30% of all staked ETH. The Swell Network, which launched in mid-April, already has more than 43,000 ETH stakedon its platform.

This shift could mean LSTs will take over as the dominant asset in decentralized exchanges and eventually replace ETH entirely as the go-to token in crypto. The sweeping growth of LSTFi could usher in an age in which all ETH will be staked through liquid staking protocols and users will do all trading and other activities using LSTs.

Yes, ETH is the more familiar asset. But familiar doesnt necessarily mean best. Before settling into purchasing ETH and then having to make decisions about what financial opportunity to forfeit via providing liquidity vs. staking, folks in DeFi should take a spin through the up-and-coming LST ecosystem. Right now may be the last real chance to get in on the ground floor and maximize the impact of their investments.

Ultimately, an LST takeover would be a positive thing for the industry. Many crypto users left during our crypto winter, and theres been a noticeable slowdown in garnering interest from new users. LSTs are a more accessible option to attract new users and could be the new breath of life this industry needs.

Bob Baxley is a core builder for the Maverick Protocol.He was previously the CTO and co-founder of Bastille Network, a cybersecurity fund that protects large commercial and federal entities from radio frequency-based cyber attacks. He holds a Ph.D. in electrical engineering from Georgia Tech and has won numerous programming competitions, including the DARPA Spectrum Collaboration Challenge.

The opinions expressed are the authors alone and do not necessarily reflect the views of Cointelegraph. This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice.

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Ethereum is about to get crushed by liquid staking tokens - Cointelegraph