Ethereum 2.0 is getting closer, while DeFi ecosystems continue to amaze users with incredible profits. These news and more in this practical summary so that you are always informed with the most recent events that occur within the crypto world.
📍The developers of Ethereum are getting closer to Ethereum 2.0. Now with the successful launch of Medal, the public multi-client testnet for the ETH 2.0 validator network, has officially kicked off the first phase of the project, Phase 0: Beacon Chain. Ethereum 2.0 seeks to significantly improve scalability issues in network transactions while ensuring speed and low costs.
📍If you haven't heard about the boom in decentralized finance yet (DeFi), let us tell you that a user made more than $16.000 USD in profits after applying for a loan flash loan in USDC which he then exchanged for DAI in CurveFinanceThe transaction was completed in just 13 seconds and the user generated $16.182 USD, taking full advantage of the differences in the rates of both stablecoins.
📍In Ethereum, miners' commission fees are gradually reduced as network activity and congestion levels also decrease. The data shown by the ethgasstatio reveal that gas fees have dropped by around 75%, currently standing between 30 and 50 Gwei. Transaction fees on Ethereum peaked during the month of July at over 140 Gwei, while DeFi interactions could consume up to $15 USD in fees.
📍Taurus, exchange Mexico-based cryptocurrency exchange became the first exchange in Latin America to deliver cryptocurrency debit cards thanks to a partnership with View y DashPay.
New debit cards allow you to make purchases with Bitcoin, Dash and other cryptocurrencies at any store or business that accepts Visa payments. In addition, Tauros promises to reward customers who use their cards to make purchases with 2% in Dash. For the time being, cryptocurrency debit cards will only be available in Mexico.
📍Bitfinex, the well-known cryptocurrency exchange that suffered a millionaire hack in 2016, which led to the loss of 119.755 BTC, currently valued at around $1,38 billion based on the current Bitcoin price as of this writing, is offering a compensation of more than $403 million, which is equivalent to 30% of the stolen funds. The reward is valid for those investigators who discover who the authors of the hack were and the whereabouts of the funds, and the exchange even claims that it will pay said reward to the hackers themselves if they return the stolen funds. The exchange stated that it is determined and focused on recovering the funds. For its part, Whale Alert has been actively monitoring every movement and transactions that have been made recently with the BTC stolen during the hack.
📍In India, the country's regulators and parliamentarians continue arguing the passing of a law completely banning the use of cryptocurrencies, within the territory. Since mid-June, the Indian government has announced the bill, which in addition to prohibiting the use of Bitcoin and other crypto assets, will also impose multimillion-dollar fines and several years in prison for those who do not comply with the established regulations. To date, the authorities and the Reserve Bank of India continue with preparations for the approval of the bill, although no date has been set for it to come into force. However, cryptocurrency transactions continue to take place within the country, and there has even been an increase in the weekly transaction volume since the pandemic, according to reports Money Control.
📍In China, the strong floods continue to threaten the activity of mining is. Bitcoin in the country. The collapse of the Three Gorges Dam near Sichuan province is imminent, according to several local media reports. It should be remembered that Sichuan concentrates a large part of the country's power. hash rate that controls the nation, more than 65% of the total network.
Continue reading: Ethereum 2.0 developers announce the successful launch of Medalla, although the testnet presented some errors
