Mediaboss Marketing

Vitalik Buterin, the co-founder of Ethereum, recently took to his Twitter account to share his thoughts on the use of multi-sig and social recovery wallets.

In his post, Buterin outlined the benefits and drawbacks of each type of wallet and offered suggestions on how to choose the right guardians for them.

According to Buterin, he personally uses a multisig wallet to store most of his funds, and the Ethereum Foundation also uses this type of wallet.

He believes that social recovery wallets will be ideal for hot wallets, which store small portions of funds for daily use, while multi-sig wallets will be best for cold wallets, which hold long-term savings.

In a related post on Reddit, Buterin expanded on his thoughts about choosing guardians for multisig and social recovery wallets. He emphasized the importance of selecting guardians who are reliable, trustworthy, and unlikely to collude to steal your money.

He also suggested minimizing correlations between guardians and ensuring they ask a security question before approving any operation.

Buterin further explained that it is acceptable to have some of your own devices act as guardians, but having too many is not recommended. Having at least one guardian as a wallet on your device is natural, but having more than one increases the risk of centralizing power.

Therefore, its important to have enough guardians controlled by others so that if you are absent, there are still enough guardians to retrieve your funds.

Although multisig wallets are secure, Buterin believes that social recovery wallets are more convenient, especially with the emergence of ERC-4337 account abstraction and user-friendly wallets such as Soul Wallet.

Social recovery wallets require a single key for transaction signing, but if that key is lost, a group of keys held by other individuals can be used to restore access to your funds.

Nevertheless, Ethereum co-founder believes that self-custody is important, and social recovery and multisig wallets are a great way to achieve it. While multisig wallets are a safe way to store funds, social recovery wallets are much easier to use and ideal for hot wallets.

Choosing the right guardians for your wallets is crucial, and Buterin suggests minimizing correlations between your guardians and ensuring that they ask a security question before approving an operation.

Related Reading | Ethereum: Playboy Reports Loss Of Nearly $5M On NFT Earnings

Read more from the original source:

Ethereum Co-Founder's Take On Multi-Sig & Social Recovery Wallets - TronWeekly

Cryptocurrency investment firm Grayscale Investments is taking more time to decide whether it should acquire and sell post-Merge forked Ethereum tokens.

Grayscaleannouncedon March 16 that the company intends to extend the review period for evaluating the market environment to determine whether it can acquire EthereumPoW (ETHW) tokens the forked asset that emerged after Ethereums Merge in September 2022.

During the review period, the firm also aims to decide whether, when and in what manner Grayscale may sell ETHW on behalf of the record date shareholders. Such review period is not currently expected to exceed 180 days from the date hereof, Grayscale noted in the announcement.

Grayscale reasoned the extension of the review period to the ongoing uncertainty regarding the support of ETHW tokens by digital asset custodians and trading venues. If digital asset custodians do support the ETHPoW tokens and/or trading markets do develop, it is expected that the ETHPoW tokens value will fluctuate widely for some time, Grayscale said, adding:

Ethereum, currently the second-largest blockchain network by market value after Bitcoin, completed the Merge, a major consensus upgrade in September 2022. The upgrade moved the Ethereum network from proof-of-work (PoW) to proof-of-stake (PoS) consensus algorithm. As some people in the Ethereum community were willing to keep using the mining-based PoW Ethereum model, Ethereum has forked into two different blockchains, the main PoS-based Ethereum and EthereumPoW.

The emergence of ETHW has brought a significant challenge for crypto investment firms offering exposure to Ethereum because some investors might want to have exposure to ETHW. Some companies, such as the European exchange-traded product (ETP) issuer ETC Group, decided to launch a new ETP providing exclusive exposure to ETHW.

Related: Coinbase expects high demand for ETH unstaking with Shanghai upgrade

The new ETP seems better because we just dont know what will happen whether ETHW will succeed or not, ETC Group founder Bradley Duke told Cointelegraph in September 2022.

In September, Grayscale announced that its two Ethereum-related products, the Grayscale Ethereum Trust and the Grayscale Digital Large Cap Fund, declared a distribution of rights to ETHW. Each product received the tokens as a result of a fork by late September.

Go here to read the rest:

Post-Merge Ethereum: Grayscale extends review of ETHPoW decision - Cointelegraph

In anticipation of the Shanghai Capella Upgrade on Ethereum mainnet in April 2023, liquid staking platform Lido Finance [LDO] has witnessed a significant increase in its total value locked (TVL) as Eher [ETH] stakers look forward to the unlocking of previously locked ETH tokens.

According to data from DefiLlama, in the last month, Lidos TVL increased by 18%. Moreso, this went up by almost 25% in the last seven days.

At press time, the protocols TVL was $10.57 billion, representing a 21.66% share of the entire decentralized finance [DeFi] ecosystem.

Is your portfolio green? Check out theLido Profit Calculator

As a result of the contagion brought about by FTXs unexpected collapse in November 2022, Lidos share of the ETH staking market dropped below 30% for the first time since April 2022.

Even though Lido displaced MakerDAO [MKR] as the DeFi protocol with the highest TVL in January, Lidos share of the ETH staking market lingered at 29% in the first two months of the year.

However, things took a different turn in March as Lido reclaimed its 30% market share and surpassed it. This has been due to the execution of the Shanghai Capella Upgrade on Ethereums Goerli testnet and the confirmation of a 12 April date for the mainnet upgrade.

At press time, 5,579,744 ETH tokens were staked through Lido, representing a 31% market dominance.

Further, on 12 March, Lidos staking Annual percentage rate (APR) rallied to its highest point far this year, reaching an impressive 9.91%.

Per data from Dune Analytics, this growth was, however, ephemeral as the staking APR on the platform consequently plummeted. At press time, this was 5.94%.

Realistic or not, heres LDO market cap inBTCs terms

While LDOs price rallied in the last week, mirroring the general growth in the crypto market, an assessment of the tokens price movements on the daily chart revealed a fall in buying pressure.

In fact, the MACD indicator revealed that LDO has lingered under a new bear cycle since the beginning of March. At press time, the RSI and MFI were positioned at 47.75 and 40.15, respectively, indicating that LDO traders preferred to sell rather than hold.

Further, the dynamic line (green) of the assets CMF was positioned in the negative territory below the zero center line. This suggested increased liquidity exit, which, if it remains unabated, will further drag LDOs value down.

See the original post here:

Lido Finance rides the wave of Ethereums upgrade, heres how - AMBCrypto News

US Securities and Exchange Commission Gary Gensler recently reiterated that Proof-of-Stake cryptocurrencies like Ethereum may be securities. These statements from regulators have fueled an uncertainty among crypto market participants.

Also read: Ethereum layer-2 Arbitrums most awaited airdrop of 2023 is expected on March 23

The Securities and Exchange Commission Gensler commented on intensified scrutiny of Proof-of-Stake (PoS) cryptocurrencies. Gensler reiterated that PoS tokens like Ethereum may be securities as these coins are promoted by creators, offering returns.

Gensler said during an open meeting of the SEC on Wednesday,

I would suggest that each of these token operators, obviously consulting with the appropriate talent, seek to come into compliance.

Developers behind Ethereum Proof-of-Work (PoW) recently shared a proposal for the formation of an All-In-One Ecosystem DAO- EthereumPoW one.

Since the inception of the PoW project, NFTs and DeFi protocols have emerged in the ecosystem. Through these projects, PoW developers witnessed potential in the EthereumPoW ecosystem.

To encourage developers, projects and investors to participate in developing the EthereumPoW ecosystem, the team behind ETHW proposed the establishment of the DAO.

Ethereum Proof-of-Work token ETHW is gaining relevance and popularity in the crypto community. The token offered 4% gains since March 16, and ETHW climbed nearly 11% over the past week.

US regulators stance on PoS tokens and Ethereum is one of the drivers of rising market share and demand for ETHW.

Go here to read the rest:

SECs Gary Gensler wants Proof-of-Stake Ethereum to be regulated as a security, will traders turn to ETHW? - FXStreet

Offchain Labs Inc., the developer of the Ethereum blockchain scaling solution Arbitrum, announced today that it will airdrop, or give away for free to select people, its new token $ARB, a new cryptocurrency that would be used for voting on two of its blockchain products.

The company also announced the launch of the Arbitrum Foundation and a DAO, or decentralized autonomous organization, to govern the development of Arbitrum One, its main blockchain, and Arbitrum Nova, which was designed for social media and gaming.

Steven Goldfeder, chief executive and co-founder of Offchain Labs said that the launch of the new organizations will lead the blockchains to greater decentralization.Through the community airdrop, the delegation process, and the introduction of the Security Council, community participation and control is at the forefront of todays announcement, and the requirements for receiving a share of Arbitrum governance have been crafted meticulously, optimizing for the longevity of the ecosystem and community, he said.

Decentralization is a fundamental tenet of blockchain technology and what is called Web3, which relies on multiple copies of ledgers to cryptographically protect transactions across its peer-to-peer network from potential tampering. Its use also gives rise to decentralized applications, or dapps, which run using self-executing code across networks without the need for central servers.With cryptocurrencies and tokens, developers have built entire decentralized economies, games, social networks and more using the blockchains as the foundation.

Holders of the tokens will be able to vote on proposals submitted to the DAO and decide on how development and governance decisions will proceed in the future. According to Goldfeder, this will further decentralize both the development and decision-making for the future of the blockchains.The tokens will be dropped on March 23.

Looking ahead, were moving closer and closer toward a decentralized financial system, with the Arbitrum technology at the very forefront of that, Goldfeder added.

Offchain Labs Arbitrum builds Layer 2 scaling solutions for Ethereum, which uses rollups technology to speed up transactions and lower fees. Layer 2 solutions execute transitions outside of Ethereum on their own blockchain and batch them together so they can be rolled up before sending them back to Ethereum so they can all be run at once.

Arbitrum One is the lead Layer 2 scaling solution for Ethereum with about $1.67 billion in total assets locked in the chain,according to DefiLlama. Offchain Labs raised $120 million in funding in August 2021 to launch its Arbitrium One mainnet, and its scaling solution was chosen by the internet social media giant Reddit for its blockchain-based Community Points program.

At the same time as the new foundation and the DAO, Offchain Labs also announced a new technology called Arbitrum Orbit a Layer 3 scaling solution that will allow developers to build their own scaling chains that will roll onto Arbitrum.

With Orbit, developers will gain access to permissionless scalable rollups blockchains that behave like Arbitrums other blockchains. For example, they can build Layer 3 Rollup chains with Ethereum-level security to maximize scalability similar to Arbitrum One, or they could aim for Layer 3 AnyTrust chains using minimal trust to enable high-volume and low transaction costs similar to Arbitrum Nova. All of these solutions run atop the core engine of Arbitrum Nitro, which means developers can customize their own Layer 3 solution for whatever application specific needs they may have.

The new scaling solution fully supports the Ethereum virtual machine, which means that developers can write and execute smart contracts. The company also said it will also support the upcoming release of Arbitrum Stylus, which will allow developers to use programming languages such as C, C++ and Rust for their chains, in addition to the traditional coding language Solidity to write code for dapps.

The launch of Arbitrum Orbit marks another step in the goal of growth through ecosystemexpansion by way of onboarding new developers, said Goldfeder. With todays announcement, developers now have another tool allowing them to not only build their own smart contracts, but to also launch their own L3 chains leveraging the best technology available.

Read the original post:

Ethereum scaling solution Arbitrum launches token and Layer 3 chains - SiliconANGLE News