Where It All Started.

Where It All Started.

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Tag: news

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.

MicroStrategy At Bitcoin (BTC) Shopping Spree Spends $82.4 Million

NASDAQ-listed tech giant, spearheaded by Michael Saylor, continues its BTC buying spree after another substantial purchase worth more than $80 million. The company has accumulated another 1,434 coins for approximately $82.4 million in cash at an average price of around $57,500 per bitcoin. This is the tech behemoth’s second bitcoin buy in the past few weeks. In November, the firm then spent $414 million to swipe just over 7,000 coins.

The company’s total stash is now 122,478 bitcoins, which were acquired for $3.66 billion at an average price of just under $30,000. This means that MicroStrategy’s entire BTC portfolio is now worth over $6 billion.

After Meta; Square Rebrands To Block

Square has announced that it is rebranding its company name to “Block” in a move that would see it give its full square brand to its seller business. This will also give the new company a distinct corporate entity from its other businesses, giving it the muscle to expand into other ventures. The company also hinted at building its own fully-fledged metaverse, joining the likes of Meta and Roblox in the crowded field of online gaming companies. This development comes just days after Dorsey stepped down as Twitter C.E.O in what he termed as “critical” to allow Twitter to stand on its own. The move was largely seen by the crypto community as well-timed, allowing Dorsey to concentrate more on building blockchain-based products.