Where It All Started.

Where It All Started.

Life, Stock Trading, Investments, Business and Startup. Most are programming stuff.

Tag: ethereum

Top Ethereum (ETH) Wales Buy Polygon (MATIC) And Other DeFi Coins Despite Market Pullback

In the previous 24 hours, the top 1,000 ETH whales acquired an average of $12,766 worth of Polygon (MATIC) tokens. As the cryptocurrency fell down from its all-time high, the second-largest ETH whale acquired 2,000,000 MATIC tokens for $5.02 million. With an average purchase amount of $4,140; large crypto investors are flocking to decentralized exchange Sushi (SUSHI) and Aave (AAVE).

Ethereum Whales Load Up Altcoins

According to whale-surveying site WhaleStats, the top 1,000 ETH whales are buying millions of dollars worth of metaverse tokens, stablecoins, and ETH-based altcoins. The ETH whale with the 79th highest net worth received a whopping 144,842,922 CHZ tokens worth $45.7 million. The 104th-ranked ETH whale spent $1.05 million on 399,999 MATIC.

Here is the full list of the altcoins where whales allocated their portfolio.

  • USD Coin (USDC)
  • Chiliz (CHZ)
  • Tether (USDT)
  • Polygon (MATIC)
  • Axie Infinity (AXS)
  • Decentraland (MANA)
  • Synthetix (SNX)
  • yearn.finance (YFI)
  • Sandbox (SAND)
  • Woo Network (WOO)

Kintsugi Merge Testnet For Ethereum (ETH) Is Now Live

The Kintsugi testnet, the latest step in replacing Ethereum’s Proof-of-Work consensus method to Proof-of-Stake, has been deployed. The mainnet and beacon chains are expected to combine in Q1/Q2 of 2022. According to a release from ConsenSys, over 8.4 million ETH has been staked on Ethereum 2.0’s beacon chain.

Ethereum founding member Tim Beiko wrote in his announcement, “The Kintsugi testnet provides the community an opportunity to experiment with post-merge Ethereum and begin to identify any issues,”.

The Kintsugi testnet will help prepare for the “merge” to Ethereum’s 2.0. Following the merge, Ethereum 2.0 will move toward “Phase 2.” This will introduce sharding, a scalability feature that will improve fees and transaction times. Sharding is expected to arrive in late 2022.

Ethereum (ETH) Client Incentive Program To Reward Developers

Developers teams will get incentives in ETH that will be unlocked over time as part of the program. Each client team will receive 144 validators in total, or 4,608 ETH, worth about $17.8 million at current pricing. The program’s structure links teams with the network’s long-term health and guarantees that they are rewarded for developing secure software. The ETH 1 and ETH 2 Beacon chains will be merged sometime in the first quarter of 2022. Since the London update in early August, the network has burned 1.19 million ETH. At current pricing, this is worth over $4.6 billion, which corresponds to around 7,000 ETH (or $27 million) being burned per day.

The incentive program is setup to “ensure that client teams have a strong incentive to maintain the core Ethereum network over the long term.”. The teams eligible for the program include Besu, Erigon, Go Ethereum (Geth), Lighthouse, Lodestar, Nethermind, Nimbus, Prysm, and Teku.

The funds will be available immediately but withdrawals will be vested over several years.

Cardano’s (ADA) ERC-20 Bridge To Ethereum (ETH) Network Already Live In Testnet

The launch of Cardano’s first-ever ERC-20 converter has been announced. With the support of IOG, the Cardano developer, the project that had been in the works had now reached its launch milestone. The converter is currently available on the testnet, allowing users to transfer AGIX tokens from Cardano to Ethereum and vice versa. AGIX transactions will be possible on a network with better transaction capacity and lower costs as a result of this.

One of the first DEXs in Cardano, was just launched. On Monday, SundaeSwap was launched to considerable excitement, allowing people to experiment with the project, which is currently live on the testnet.

Cardano is witnessing what is turning up to be an exciting start to decentralized finance on its network, but there are still some problems to sort out. The developer expressed his gratitude to the community.

Solidity Series – Building Your First Hello World

Knowing others is wisdom, knowing yourself is enlightenment.

— Lao Tzu.

It’s the start of decentralization age but how to start programming on decentralize environment?

Ethereum1, considered as second wave of blockchain innovation. The pioneer and first blockchain ecosystem to implement and handle smart contracts. So how do you start developing system and application DApps (Decentralize Apps) in it?

The answer is “Solidity” — a programming language that interface EVM (Ethereum Virtual Machine) and your app.

Prerequisites

In this tutorial we assume you have some basic knowledge in programming.

The main requirements in developing a blockchain app is first its compiler then the secondary requirements but optional are the bootstrap framework like truffle.

  • Node 10 and above

Building Hello World

To start the development, we must get the required dependency in developing a structured smart contract project. The tool and framework that we will be using is truffle, which handles all the bootstrapping procedure and creates the base of your project. Installing it is just breeze, all you have to do is type npm install -g truffle.

Also install ganache which is the old ethereum-test-rpc project. To install ganache you have an option whether to install it on a desktop or a CLI (Command Line Interface) build. For this project I’ll be using the CLI build, so to start we install ganache using the command npm install -g ganache-cli. Both truffle and ganache is under the truffle software development platform.

And now we start building the project, after all dependencies installed we need to create an empty project directory with the command truffle init. As a note, the init sub-command only works on an empty directory. This sub-command will create a base structure for our project.

Project Structure

Below is a structure that I recommend to bootstrap your project.

  • contracts: Storage of smart contracts source.
  • migrations: Migration script to deploy smart contract.
  • test: Test directory for smart contract.
  • truffle-config.js: Truffle configuration for Windows users (for backward compatibility).
  • truffle.js: Truffle configuration for *nix system.

To test if everything’s okay we must run truffle compile.

Running a test RPC for Ethereum

So in order to start, we first need to generate test accounts and run a test environment. Start by typing ganache-cli in a separate non-occupied terminal window. The tool ganache will generates 10 ETH addresses with an initial balance of 100 ether.

Coding your first hello

With ganache-cli running at background, we continue building our hello world project. To start, we must create a new contract using truffle create contract Hello on which this command will create a new file under contracts ⇒ Hello.sol. Edit the newly created file and add a new function that will return the string Hello in EVM.

pragma solidity ^0.4.24;

contract Hello {
	function greeter() public pure returns (string) {
		return "Hello World";
	}
}

In the next step, will be creating and editing the migration file. To create the file execute touch migrations/2_deploy_contracts.js, then edit the new file and link that to the file we created earlier Hello.sol. This is a very crucial step in order to deploy our Hello solidity file on test blockchain environment.

Here are the changes we need in migrations/2_deploy_contracts.js.

var hello = artifacts.require("./Hello.sol");
module.exports = function(deployer) {
	deployer.deploy(hello);
}

After we edit the migration file, we can now connect the truffle project to ganache test blockchain RPC environment. To do that we’ll be editing truffle.js and point it to ganache host and port which is localhost:8545.

module.exports = {
	networks: {
		development: {
			host: "localhost",
			port: 8545,
		},
	},
};

When everything’s done, execute truffle migrate. This command will automatically compile and deploy the smart contract into ganache test blockchain RPC environment. Remember and copy the Hello function address in the output console, we will be using this later.

To test the function if its already deployed in the test environment, we will execute a REPL console using truffle console. Then inside the console, we type Hello.at(address).greeter() (note the address here is the one we copy earlier).

If everything is correct it should output Hello World. That’s it, now you’re on your way to become a blockchain developer.This is the link to the whole source code.

Conclusion

Hey guys, now that you’ve finish the setup you are now on the path of becoming a blockchain software developer. Follow us on our next adventure developing deep into the blockchain ecosystem. Stay tuned for the next follow up series for solidity.


  1. Ethereum is an open source, public, blockchain-based distributed computing platform and operating system featuring smart contract functionality. It supports a modified version of Nakamoto consensus via transaction-based state transitions. ↩︎