![]() Umbria’s system dispenses with the need for a multitude of wrapped asset deposits, validators and mint/burn mechanisms, in favour of a more secure, faster and cheaper liquidity pool approach. In an important win, Umbria has just been brought onto the Polygon Accelerator in a vote of confidence in its novel approach to bridging. Ethereum Polygon Layer 2 becoming more entrenched – Umbria Joins Polygon Accelerator This news came to light after we had interviewed the founders of the Umbria Network, a bridging solution that operates on half a dozen protocols including Polygon, the popular Layer 2 solution for Ethereum (the second part of this interview looking at Umbria’s Narnia bridge and its growing success as an interoperability solution will be published tomorrow). If you are interested in the details check out the Ethereum Core Devs meeting which took place on 10th June. The upshot is we can forget about an August date for the Merge going live. A critical precursor to the eventual roll out of the Merge, the difficulty bomb that would make it more expensive to mine, has been delayed (again). Turns out it wasn’t such a success after all, with a plethora of bugs and issues having since come to light. However, Ethereum had seemed to have hit on some good news flow last week with the Merge on the Ropsten testnet deemed a success, but that sentiment was soon reversed. ![]() Ethereum Merge issues push back August live date That led to sustained selling of crypto going into the weekend, with crypto doubly vulnerable not just because it trades like an ultra high-risk tech stock but also because it trades at weekends. With ETH currently trading at $1,221, compared to circa $1,800 when Business2Community conducted the interview with the founders last week, that looks like an increasingly astute judgement.Ī general crash in valuations across the crypto complex continues today after being given new impetus following shock US inflation data (should we be shocked anymore?) that indicated that price rises were not showing signs of peaking anytime soon.Ĭryptoassets are a highly volatile unregulated investment product. All told, none of this will be good for the price of Ethereum, which could easily trade as low as $600 according to the founders. When it does go live, they believe it will be underwhelming and have unintended consequences. The Ethereum price is crashing – we spoke to two crypto founders who think the premier smart contract platform has a lot further to fall… before it rises again to even loftier heights.īrothers Oscar and Barney Chambers, the founders of the Umbria Network, think the Merge – Ethereum’s migration from Proof of Work to a cheaper and faster to run Proof of Stake system – won’t happen in August and will be subject to further delays. How to Watch Love Island UK From Abroad.
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