A small taste of the news that will mark the crypto world today
📍 Ethereum Gas Fees Soar. High congestion on Ethereum has led to a sharp increase in gas fees on the blockchain, and in some cases, users are paying more in gas than in Ether. This surge in gas usage on Ethereum is linked to the growth of the DeFi ecosystem on the Ethereum blockchain. In fact, tokens like USDT on Ethereum and Compound have had the greatest impact on the entire ecosystem and this sustained increase. Delphi Digital explains this in a great and concise article. report.
📍 Continuing with Ethereum and the DeFi ecosystem, Compound has managed to put forward a proposal to stop the inorganic growth of its system. And for less than a week, Compound has suffered a meaningless bullish rally that has led to an 800% increase in its capitalization. The reason is a series of circular loans from a number of users that has artificially skyrocketed the price and market capitalization of Compound. As a result, the community is at a point of dangerous imbalance that could lead to the collapse of Compound if the price of the collateralized tokens falls. For now, the proposal 10 It is winning with 99.98% acceptance, and with it they seek to stop this uncontrolled and dangerous growth.
📍China continues to demonstrate its ambivalence. On the one hand he goes against Bitcoin and its miners, and on the other he embraces blockchain technology to create his digital currency, accepting EOS and now Chainlink. Blockchain Services Network (BSN) will now begin working on an integration with this project. The information reaches us through a press release released by the BSN in which they explain the plan. Additionally, Sergey Nazarov, co-founder of Chainlink, commented the following:
“We are excited to help build BSN's global infrastructure project by providing secure and reliable oracle services. By connecting BSN applications to real-world data, smart contracts can achieve new levels of automation and trust that serve global agreements.”
📍In Japan, the political party SANSEITO and PHI have designed the application Guild Voting, a system that uses IOST blockchain technology. PHI, which is an IOST development leader in the country of the rising sun, has put its work and experience to create this quick and easy-to-use voting system available to SANSEITO, so that its members can try it and comment on their experiences. The system will serve to make decisions within the political party.
Continue reading: John Cantrell hacks Bitcoin wallet during 1 BTC giveaway
