Značka: Proof of Stake

Dogecoin Foundation works with Ethereum co-founder on DOGE staking

The Dogecoin Foundation, a non-profit organization behind the meme-based cryptocurrency Dogecoin (DOGE), is working on a staking mechanism in collaboration with Ethereum co-founder Vitalik Buterin.The Foundation on Thursday released its Dogecoin Trailmap or a “dog-walk” that the Dogecoin Foundation is committed to exploring and which it believes would contribute to Dogecoin’s success.As part of the trailmap, the Dogecoin Foundation is working with Buterin on building a “uniquely Doge proposal” for a “community staking” version of proof-of-stake (PoS).Such a version would allow all Dogecoin users to stake their DOGE and get extra tokens for supporting the network, the Dogecoin Foundation said:“[The PoS version] will allow everyone, not just the big players to participate in a way that rewards them for their contribution to running the network, and at the same time gives back to the whole community through charitable causes.”As previously reported by Cointelegraph, the Dogecoin Foundation reestablished its project in August 2021 after six years of almost zero media activity. As part of the new team, the foundation listed advisory board members, including Buterin, Dogecoin co-founder Billy Markus and Dogecoin core developer Max Keller. Tesla CEO and major DOGE fan Elon Musk’s interests were reportedly set to be represented by Neuralink CEO Jared Birchall.“As you can imagine, setting off on such an adventure is not a small feat and we are still just getting started. We already have some influential friends on our side and a growing group of people who are getting ready to contribute development time to these open-source projects,” the latest post from the foundation reads.Related: Dogecoin and Ether rank in top 10 news searches on Google in 2021Dogecoin was founded in 2014 by software engineers Billy Markus and Jackson Palmer, who created DOGE’s payment system with an idea of a “joke.” The Dogecoin Foundation ceased to be active shortly after its founders left the project.

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Crypto exchange Kraken acquires non-custodial staking platform Staked

Major cryptocurrency exchange Kraken has announced that it purchased blockchain infrastructure company and investment manager Staked for an undisclosed amount.In a Tuesday announcement, Kraken — the crypto exchange aiming for a $10 billion valuation — said it had added Staked to its portfolio of yield products following the acquisition. The company described the Staked deal as “one of the largest crypto industry acquisitions to date” but did not disclose the amount.According to Kraken CEO Jesse Powell, Staked users will have access to Kraken’s portfolio of yield products. Staked CEO Tim Ogilvie cited the exchange’s “commitment to supporting proof-of-stake networks” as well its track record on customer experience and security in its decision to move forward with the deal. As we gear up for 2022, Kraken is celebrating its continued growth and success with the expansion of its ‘staking’ tentacle through an acquisition of Staked. Check out our blog for more details about this exciting deal! https://t.co/26WfBKqO3F pic.twitter.com/WP9pjjkueN— Kraken Exchange (@krakenfx) December 21, 2021The crypto exchange said its staking business had grown by more than 950% since the beginning of the year to reach $16 billion in November. This may have been driven, in part, by vehicles in which to invest in Ether (ETH) and earn staking rewards.Related: Kraken users have already staked half a million ETHKraken has acquired several companies over the past few years related to its staking business and otherwise. Since 2017, the firm has purchased accounting and portfolio reconciliation service provider Interchange, Australian crypto exchange Bit Trade and Cryptowatch, among others. Powell has also hinted that the exchange could go public before the end of 2022.

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Coinbase adds 'ETH2' despite tomorrow's Ethereum upgrade postponing difficulty bomb

Cryptocurrency exchange Coinbase has added a mirrored version of the Ethereum blockchain’s native token Ether (ETH) to its crypto price index, just ahead of a key network upgrade on Dec. 10.Dubbed “ETH2,” the symbol appeared to have been tracking the original Ether market data synchronously. For instance, the cost to purchase ETH2 came out to be the same as that for ETH. Meanwhile, their market capitalization, volume, circulating supply, and price changes were also identical.Coinbase is already promoting eth2 as a new coin? pic.twitter.com/C67UxooLU0— Nuno (@nvcoelho) December 6, 2021Nonetheless, unlike the original, the ETH2 token had no Trading Activity, Popularity Score, or Typical Hold Time, underscoring that its role — for now — is to merely track the ETH market data at least until mid-2022.ETH vs ETH2.0 market data. Source: CoinbaseThat is probably as ETH2 seems to have been posing as the native token of Ethereum’s ongoing upgrade, dubbed Ethereum 2.0, which expects to go live fully by June 2022. But the Coinbase’s index listing appears closer to “Arrow Glacier,” a fork that would give developers more time to prepare for Ethereum 2.0.Before Ethereum 2.0The Arrow Glacier update aims to delay a so-called “difficulty bomb,” an incentive hardcoded inside the Ethereum blockchain since its launch in 2015, which would make it difficult for people to mine Ether. In doing so, the BOMB, if triggered, would slow down the Ethereum network, for as long as it remains proof-of-work.Tim Beiko, one of the core developers working on the Ethereum upgrade, noted that Arrow Glacier might be the last upgrade before Ethereum 2.0 goes live next year. Meanwhile, Coinbase appears to have been treating the Arrow Glacier fork as a confirmation that they would exist a new token called ETH2 after the Ethereum 2.0 upgrade.In detail, Ethereum 2.0, also known as “Serenity,” would enable significant changes to its design, including a full-scale transition from energy-intensive Proof-of-Work (PoW) — also used by Bitcoin (BTC) — to Proof-of-Stake (PoS).In the current version, nodes must validate every transaction to maintain Ethereum’s public ledger. But the Ethereum 2.0 upgrade would launch “sharding,” which would divide the network into various segments (called shards) and would randomly assign nodes to each shard. Beacon Chain and Sharding. Source: Vitalik.caThat would remove the need for each node to scan the entire chain, theoretically improving the speed and costs required to maintain the network. Meanwhile, individual shards would share the transaction details with a so-called Beacon Chain, which serves as the backbone of Ethereum 2.0.ETH2 is not a new cryptoBeacon Chain, which went live in December 2020, would validate the transactions on each shard, thus assisting the entire Ethereum 2.0 network reach consensus. It would also detect dishonest validators and initiate penalties by removing a portion of the validator’s stake from circulation.Related: Vitalik Buterin outlines ‘endgame’ roadmap for ETH 2.0At the core of Ethereum 2.0’s PoS design would be ETH (or ETH2), which primarily serves as a staking token for validators to participate in the network consensus and, in turn, to receive block rewards for it. Beacon Chain’s deposit contract has received over 8.42 million ETH tokens from 55,300 unique depositors (validators) since its launch in December 2020.The balance of the Ethereum 2.0 deposit contract divided by the total ETH supply. Source: CryptoQuantThat being said, ETH2 is not a new coin and would not change the ETH amount one holds. Instead, as Coinbase’s index listing suggests, ETH2 may end up becoming a rebranded version of the original Ether, without needing holders to swap one version for another.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Traders say ATOM could eventually do an AVAX-like surge to $100

Cosmos (ATOM) has the potential to record major gains in the upcoming weeks primarily because its longer-timeframe chart is showing a bullish continuation pattern. Dubbed “bull flag,” the structure appears as the asset trends lower while bouncing between two downward sloping trendlines. However, it eventually breaks out of the range, in the direction of its previous trend, with a profit target at length equal to the size of its previous uptrend which is also known as the flagpole.ATOM/USD weekly price chart featuring Bull Flag setup. Source: TradingViewTherefore, in a “perfect” world, if ATOM is to break above the flag’s upper trendline (with a rise in trading volume), it may rise by as much as the flagpole’s height around $35. This sets a price target near $65 as when measured from the current potential breakout point.Nearly 64% of ATOM’s total supply is stakedThe bullish setup in ATOM appeared as the token rose over 330% from its June low at $7.82 to this weeks swing high near near $32.Circulating token scarcity could be playing a role in driving buyers into the market. Data fetched by Messari showed that nearly 64% of the current ATOM supply is staked.ATOM staking data. Source: MessariAccording to data, Cosmos investors have staked over 180 million ATOM tokens to become validators on its ‘Cosmos Hub,’ a proof-of-stake blockchain that constitutes one of many hubs on the network. In return, users receive a portion of the network transaction fees and block rewards.Pentoshi, an independent market analyst, noted that the rising number of staked ATOM tokens have been instrumental in pushing its price upward. The pseudonymous Twitterati added that ATOM sellers have been losing momentum, citing two corrections during the fourth quarter that got stopped midway due to a higher buying pressure near the token’s previous all-time high levels.ATOM/USD daily price chart by Pentoshi. Source: TradingViewAccording to the analyst, ATOM is seeing clear:”Signs of absorption”Related: Price analysis 12/1: BTC, ETH, BNB, SOL, ADA, XRP, DOT, DOGE, AVAX, SHIBAvalanche fractal highlights ATOM’s potentialAnother analyst, known by the pseudonym ‘Bluntz,’ anticipated that ATOM would continue its rally upward based on similar gains posted by one of its top blockchain rivals, Avalanche (AVAX), earlier this year.Like Pentoshi, Bluntz views ATOM’s chance of revisiting its previous record-high as a base to continue its bull run. In a similar setup, AVAX rallied by nearly 250% after finding a solid footing inside the $50 to $60 support area.ATOM/USD vs AVAX/USD daily price chart by Bluntz. Source: TradingViewAccording to Bluntz, ATOM could easily hit $100 in the medium-term.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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