Nearly a quarter of all transactions taking place on Ethereum are executed through the second-layer solutions Optimism and Arbitrum. This and more news is in this handy daily digest so you're always up to date with the latest developments happening within the crypto world.
Ethereum Layer 2 Adoption Grows
📍24% of Ethereum transactions happen through Optimism and Arbitrum, according to researcher Mika Honkasalo. According to the data cited by the researcher, the use of second-layer solutions on Ethereum, which implement rollups, has been growing steadily since last year.
Optimism and Arbitrum allow users to transact on the Ethereum blockchain faster and with significantly lower gas costs than on the mainnet.
New details on the digital euro
📍Fabio Panetta reveals that there could be a maximum of 1,5 trillion digital euros. Italian economist Fabio Panetta, former director general of the Bank of Italy and member of the Executive Committee of the European Central Bank, said that the digital euro could have a total emission of between 1 and 1,5 trillion tokens, equivalent to the same amount of euros.
During his intervention Speaking before the European Parliament's Committee on Economic and Monetary Affairs in Brussels, Panetta said that creating a digital euro is a logical and important step towards contributing to the digitalisation of payments.
However, to protect monetary sovereignty and the integrity of the financial system, total holdings of digital euros should be kept “between one and one and a half trillion euros,” the economist noted, indicating that this limitation will help mitigate the potential negative effects and risks of issuing a CBDC for the current financial system.
Michael Saylor and his conviction towards Bitcoin
📍MicroStrategy CEO rehearsed his Bitcoin investment strategy many times before executing it. Michael Saylor, president of MicroStrategy, the largest institutional investor in Bitcoin, told CNBC that he is not worried about the current market fluctuations. According to Saylor's Bitcoin investment strategy was rehearsed many times before being implemented, so Saylor says he is prepared for any situation.
Even firm in his belief that Bitcoin is a long-term store of value, Saylor indicated that he could take advantage of the recent drop to buy more bitcoins. The American business intelligence company has a fortune of more than 129.000 BTC.
Innovation, Development and Technology
📍Vitalik Buterin talks about the potential of non-financial blockchains. Ethereum co-founder Vitalik Buterin has shared a whitepaper discussing the growing interest in blockchains with applications beyond the financial sector. In it, Buterin highlights that there is great value in blockchains in many situations.
In his view, two of the most potential uses of non-financial blockchain applications are: for the creation of interoperability solutions between chains and for account management; although in the document he also pointed out other important uses, such as decentralized data storage and certifications.
The blockchain developer thanked Puja Ohlhaver and Shrey Jain for their collaboration in drafting the document.
Cybersecurity in MetaMask
📍MetaMask developers warn of new vulnerability in the wallet. MetaMask, the most widely used cryptocurrency web wallet extension in the crypto industry, warns of a new security vulnerability.
On Twitter, the wallet developers reported about a bug that existed in the wallet, prior to version 10.11.3, which allowed hackers to extract users' secret recovery phrase, known as the seed phrase or seed phrase.
Although the vulnerability has already been fixed, this is at least the second security flaw in the wallet this year. In January, cybersecurity expert Alexandru Lupascu reported on a bug in MetaMask that allowed users' IP addresses to be exposed.
A new opportunity in the Crypto world
📍Job opportunities are pouring in for those laid off from cryptocurrencies. The hundreds of employees who have been affected by the current macroeconomic situation and the fall of the crypto market have new job opportunities within the crypto world.
Several cryptocurrency companies are offering support to the unemployed left behind by the crisis. While companies like BlockFi and Crypto.com announce new layoffs, others, like Binance and Bitmain, are opposing massive cuts and offering new opportunities to those affected.
Even the U.S. Financial Industry Regulatory Authority (FINRA) could hire new staff from among those laid off from the crypto industry, according to statements by its chairman, Robert Cook. According to Reuters, Cook called on all unemployed crypto workers to work with the regulatory agency.
FINRA wants to increase oversight of the cryptocurrency industry, so it needs to hire new staff with experience in the area.
Continue reading: Brazil will legalize payments in cryptocurrencies
