ethereum network

Not Ethereum, Polkastarter, the DEX Protocol Will Launch on Polkadot

Since gaining prominence in recent times, Decentralized Finance (DeFi) has been marauded with some sort of technical problem especially as it utilizes Ethereum blockchain that only does about 25-40 transactions per second. Most, if not all current DeFi aggregators and DEX platforms are built atop the Ethereum blockchain, it’s easier to deploy contracts on the Ethereum blockchain than in any known blockchain and it’s quite cheap to do too.  However this comes with a cost, the cost is in the amount of gas fee spent just by interacting with this

Ethereum Miners Hourly Revenue Hits Five-Year Record

Rate this post The transaction fee of Ethereum has now increased to around $1 million an hour. It has been observed that the hourly revenue of Ethereum miners has hit a 5 year high as the fees is currently at $880k per hour. It is believed that such an increase in price might be due to the recent announcement of Uniswap for launching its governance token, UNI. This is because as soon as the announcement for the UNI token came, around 70,000 users rushed to claim the free tokens. Due

What is OIN Finance? A DeFi Guide to $OIN

The emergence of several decentralized finance (DeFi) projects has taken up most of the transaction capacity of the Ethereum network. As a result, the blockchain has too much traffic and gas costs are substantially increasing, making it hard for users to transact on it. This congestion problem has made a negative impact on the broader DeFi space and is curtailing adoption. In order to get around this concern, OIN Finance tapped on to the Ontology network, making it the first DeFi protocol built on the Ontology chain. Ever since they

What is Wrapped Bitcoin (WBTC) and How Can DeFi Investors Use It?

Even though DeFi is taking off, a little extra liquidity could prove to be the wind beneath its wings. Powered by 46 partners—and counting—Wrapped Bitcoin (WBTC) is blowing in from all corners of the globe. Wrapped Bitcoin (WBTC) is an ERC-20 token, pegged to bitcoin 1:1, that was launched on the Ethereum network on January 31, 2020. As a result, bitcoin can be used in the largely Ethereum-powered DeFi market. How Does Wrapped Bitcoin Work? There are three key players in the process of a bitcoin holder getting WBTC: the

ETH miner revenue reaching a new all-time-high may be bad news for low volume yield farmers

On September 2, the revenue of Ethereum (ETH) miners reached an all-time high of 51,541 ETH. While this may be good for the miners, it could turn popular DeFi projects into a mousetrap. Ethereum miner revenue, percent from fees and total gas used. Source: Glassnode.When denominated in USD, these numbers are still below the record set on January 10, 2018 — when miners earned $32 million versus $23 million on September 2. The price of ETH at the time was approximately three times the current rate. However, what is more

Out of Control ETH Fees Return to All-Time High

With the rise of the decentralized web came a rise in Ethereum traffic. September 1, 2020, broke a new record with the average transaction cost topping $13. Reports of long wait times and astronomical Uniswap fees are pushing the crypto community to its breaking point. Ether fees jumped to an all time high on September 1 | Source: Y-Charts Cheaper to Hire Fedex Than Use ETH Saving on gas left some users waiting 12 hours or more for their transactions to go through. In the fast-paced world of Uniswap and

‘DeFi Is the Tesla of Crypto’ – Mike Novogratz

The decentralized finance (DeFi) space has hit the cryptocurrency market like a bull in a china shop. And Galaxy Digital CEO Mike Novogratz is having flashbacks of the 2017 ICO bubble, but that’s not all. Novogratz, a former Wall Street hedge fund manager, in an interview with BNN Bloomberg, drew parallels between DeFi projects and high-flying electric-vehicle maker Tesla, which worries him. That’s because TSLA shares have shot up several hundred percent this year so far and are trading at more than 1,000 times earnings. The gains are coming hand

Messari: $500M in BTC tokenized for DeFi is just the beginning

Crypto analytics firm Messari estimates that $500 million worth of Bitcoin (BTC) has been tokenized on the Ethereum network for use in decentralized finance (DeFi) protocols.The firm's latest report points out however that this figure represents just 0.3% of Bitcoin’s $216 billion market cap, meaning there is ample opportunity for projects that facilitate the migration of Bitcoin onto Ethereum, to capture significant value.According to DeFi Pulse, popular Bitcoin tokenization protocols WrappedBTC (WBTC) and RenVM are the ninth and 10th largest DeFi projects by locked funds, with $453 million and $232.4