Disclaimer: This article is sponsored content and should not be considered as financial or investment advice. Always do your own research before making any financial decisions. The opinions expressed in this article are those of the author and do not necessarily reflect the views of CryptoGlobe.

Over the years, Ethereum has emerged as one of the most powerful crypto platforms, with a strong focus on innovation, research and development. The numerous upgrades that the network has undergone since its inception allowed Ethereum to stay flexible, adapt to new challenges and maintain its relevancy in the fast-paced crypto industry by improving its scalability, safety and sustainability.

However, developments and advances should always be planned carefully and approached with caution in order to reduce risks and ensure positive outcomes. That makes one of the main points of interest for Ethereum developers. While users are primarily concerned about Ethereums price evolution, its potential as a short- and long-term investment or the best way to buy Ethereum, things look a bit differently on the other side of the fence where developers have their eyes set on completely different aspects.

Ethereums co-founder Vitalik Buterin seems preoccupied with one aspect in particular, as revealed in his latest blog post titled Dont overload Ethereums consensus. In the post, Buterin expresses his concerns over extending Ethereums consensus layer beyond its current purposes, talking about the risks and implications this might have on the network while also offering a few potential solutions in this respect.

For those who tuned in late to the crypto craze and are not familiar with Ethereums inner workings, we should start by explaining what a consensus mechanism is. In simple terms, a consensus mechanism refers to a range of protocols and practices employed by blockchain systems such as Ethereum to reach agreements that determine the state of the network and ensure its proper functioning.

There are different types of consensus mechanisms in blockchain, each of them with its unique characteristics, advantages and challenges. Ethereum currently relies on a proof-of-stale (PoS) consensus layer, but that wasnt always the case. When it was launched, Ethereum was based on a proof-of-work (PoW) protocol, just like the one Bitcoin still uses. While PoW has proven effective in verifying and validating transactions, it requires considerable amounts of computing resources which translates into massive energy consumption. As a result, crypto networks that use PoW have been harshly criticized for their lack of sustainability.

Being aware of this issue, Ethereum developers decided to relinquish the energy-intensive PoW and replace it with the eco-friendlier PoS. That seemed to be the plan all along, but at the time the network was launched this was not yet feasible. In the end, the switch from PoW to PoS took place in September 2022, in an upgrade commonly referred to as the Merge.

Under the new PoS protocol, miners were replaced with validators, changing the way blocks are validated. In order to qualify as a validator, users have to stake a specific number of coins, usually 32 ETH. An algorithm randomly asks a validator to propose a block and then other random validators are tasked with reviewing, validating and adding new transaction blocks to the blockchain.

After successfully completing the process, validators are rewarded with new ETH. This arbitrary selection eliminates the computer-powered competition from the equation, thus substantially reducing the network energy consumption. After transitioning to the PoS consensus, Ethereum managed to cut its energy usage by up to 99%, becoming one of the most sustainable blockchains in existence.

At the moment, the PoS consensus is strictly used to verify and validate transactions, and Ethereums co-founder Vitalik Buterin thinks things should remain this way. According to Buterin who posted a lengthy blog on the topic, attempting to include other functions to Ethereums consensus would open the network to systemic risks.

Buterin went on to talk about the various proposals and suggestions that emerged over the years with regard to extending the use cases of the consensus mechanism. Ideas such as using the consensus protocol for price and data oracles, or re-staking initiatives were considered at some point. He noted that attempting to add new features and functionalities to the networks core is to be expected since this is the area that attracts the most attention from stakeholders and the crypto community at large.

However, one should also consider the risks associated with these types of changes as any new addition could make the network more vulnerable and fragile. The Russian-Canadian computer programmer explained that in doing so, the likelihood of high systemic risks such as bugs or an intentional 51% attack would increase considerably. To exemplify, Buterin talked about the risk of creating ETH/USD price oracles, where validators could be offered money to vote in a certain way. Nevertheless, he did mention that oracles require improvement, but suggested addressing them individually given that each issue comes presents different challenges.

Overall, Buterins message was to maintain the networks minimalism and refrain from extending the scope of the consensus mechanism with extra functionalities that can cause more harm than good. He also added that there one should look for alternative strategies to support developers in their endeavors of improving the system and reaching security goals.

In the fast-evolving crypto space, the Ethereum network has earned a name as a trailblazer due to its constant upgrades and forward-thinking nature. Ethereum has always stood out from other crypto projects through its ever-expanding use cases and its potential to drive innovation and disruption across a wide range of industries and sectors.

However, as Vitalik Buterin pointed out in his latest blog post, developments dont come without risks. One shouldnt innovate just for the sake of innovation. The wiser approach is to analyze both potential benefits and hazards and decide if its worth taking the leap or not. This stands true for Ethereum and all other blockchain platforms that are looking to improve their operations and distinguish themselves from their competitors.

Featured image via Pixabay.

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Vitalik Buterin Voices Concerns Over Overloading Ethereum's ... - CryptoGlobe

2023-07-31 11:18:20 ET

Clearpool , a blockchain-based lending protocol, has expanded its marketplace to Polygon zkEVM. The expansion sees the credit marketplace now available on three blockchain solutions Ethereum, Polygon PoS and Polygon zkEVM an EMV-compatible zero-knowledge scaling solution.

CPOOL price was around $0.023 while MATIC traded near $0.70 on Monday at 11 am ET.

The integration will allow Clearpool to tap into zkEVM technology for benefits such as high-speed transactions, low gas fees, and enhanced security for its DeFi community.

Borrowers are also set to benefit from increased funding diversification and network efficiency, the protocol said in a blog release on Monday.

Robert Alcorn, CEO and co-founder of Clearpool commented:

This integration is a key step for the protocol by adding another building block to Clearpools expanding ecosystem. Since its inception, Clearpool was designed to be a multichain protocol that is cost-effective, seamless, and scalable to provide value, efficiency and accessibility for millions of users. We continue to deliver on that strategy and vision.

Accordingly, two key market makers are now available on Polygon zkEVM and have opened the permissionless lending pools on the zk-powered L2.

Jack Melnick, the Head of DeFi Business Development at Polygon Labs, said:

The integration strengthens the DeFi landscape on Polygon and reinforces our commitment to providing diverse financial solutions for the growing community.

Clearpool launched its lending marketplace in March 2022, with growth seeing it originate more than $400 million of loans across crypto and TradFi. Its user base includes Wintermute, Jane Street, CoinShares, Fasanara Capital among other institutions.

Polygon zkEVM mainnet beta launched in March this year, with Ethereum co-founder Vitalik Buterin performing the protocols symbolic first transaction. The L2 solution offers full EVM opcode compatibility, which means developers can use the same code, tooling and applications accessible on Ethereum.

As Invezz reported , Polygon co-founder Sandeep Nailwal revealed plans for an upgrade to Polygon 2.0 in June, targeting unlimited scalability and unified liquidity among other features. The platform also eyes a rebranding of the native token from MATIC to POL.

The post Clearpool expands marketplace to Polygon zkEVM appeared first on Invezz .

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Clearpool expands marketplace to Polygon zkEVM - InvestorsObserver

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The rally inBitcoin(BTC-USD) during the first half of the year clearly indicates the resumption of another bull market for cryptocurrencies. The good news for investors is that the bull market is still at an early stage. As the cryptocurrency market takes a breather, its a good time to look at some of the best cryptos to buy on the dip.

Bitcoin halving is an important event thats due in 2024. With the recent rate hike, it seems likely that no further hikes are on the cards. As inflation is curbed, there is a case for rate cuts in the next 24 months. A weak dollar is positive for risky asset classes, and I expect cryptocurrencies to benefit.

At the same time, blockchain technology is here to stay. As use cases get wider, there will be more attention and investment in the cryptocurrency space. This column discusses some of the top cryptos to buy on the dip. I believe that these crypto assets are poised for multibagger returns in the next 18 to 24 months.

Lets discuss the reasons to be bullish on these cryptocurrencies.

Source: shutterstock.com/Maestro-0111

Bitcoin touched highs of $31,850 earlier this month. With BTC trading near the $29,000 level, the correction seems like a good accumulation opportunity. While Bitcoin has surged by 75% year-to-date, the upside potential is significant in a full-fledged bull market.

Standard Charted believes that Bitcoin will likely hit $50,000 by the end of the year. Further, Bitcoin canpotentially surge to $120,000 by the end of 2024. If this projection holds true, the cryptocurrency is poised for multibagger returns in the next 18 months.

Its also worth noting that Bitcoin halving is due in 2024. Historically, post-halving periodssee the greatest upside in BTC price. I, therefore, believe that the Standard Chartered projections are not unrealistic.

Another strong argument for the bull case is the fact that Bitcoin supply is limited. With the rising adoption of cryptocurrencies, the blue-chip asset is likely to remain in an uptrend.

Source: shutterstock.com/BT Side

Ethereum(ETH-USD) touched highs of $2,140 in April. The cryptocurrency currently trades lower by 13.5%. I believe that this is a good accumulation opportunity. Over the next five years, Ethereum is likely to deliver multibagger returns and can potentially outperform Bitcoin.

Last year, Vitalik Buterin opined that Ethereumdevelopment will be 55% completedafter the merge. This implies significant impending developments for Ethereum in the next few years. From this perspective, Ethereum is attractive as compared to Bitcoin. It also seems that the benefits of the Ethereum merge are yet to be discounted. In particular, the significantdecline in energy consumptionis likely to attract environmental, social, and corporate governance investors.

I believe that there are two important catalysts for Ethereum surging higher. The first catalyst is the increased transaction speed. Further, the transaction cost is reduced significantly. If this is achieved in the next 24 months, Ethereum can potentially deliver 3x to 5x returns from current levels.

Source: Pixabay

Dogecoin(DOGE-USD) has been in an extended period of consolidation. In the last 12 months, DOGE has trended higher by 10%.

I believe that the cryptocurrency is poised for a massive breakout on the upside. If Bitcoin touches $120,000 (as predicted by Standard Chartered) by the end of 2024, Dogecoin can easily be higher by 3x from its current levels of eight cents.

Of course, the bullish view on Dogecoin has a lot to do with Elon Musk. Thehopes of payment integrationwith Twitter exists, and thats a big catalyst for Dogecoin. Its also worth noting that the cryptocurrency has a significantly lower transaction cost as compared to Bitcoin or Ethereum.

One factor of concern is that Dogecoin is inflationary. However, the cryptocurrency has a large holder base. In a wider adoption scenario for cryptocurrencies, the outlook is likely to remain bullish.

On the date of publication, Faisal Humayun did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Faisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modeling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector.

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3 Cryptos You Better Be Buying on Each and Every Dip - InvestorPlace

India's lunar mission, Chandrayaan-3, is making steady progress towards its goal of exploring the moon's surface. Launched by the Indian Space Research Organisation (ISRO) on July 14 aboard an LVM3-M4 rocket from the Satish Dhawan Space Centre, the spacecraft has successfully completed its fourth orbit-raising maneuver and is now in a 71351 km x 233 km orbit around Earth.

The next significant step for Chandrayaan-3 is the TransLunar Injection, scheduled for August 1 between 12 am and 1 am. This event will see the engines on the Propulsion Module roar to life, increasing the spacecraft's velocity and setting it on course for the moon.

The propulsion module will carry the lander, which houses the rover, from its current Earth orbit to a circular orbit around the moon at an altitude of 100 km.

The TLI is a propulsive maneuver which will be utilized to put that spacecraft on a trajectory that will set it on course to intercept the Moon. This process includes a significant burn, generally done by a chemical rocket engine, which surges the spacecraft's velocity.

The surged velocity transitions its orbit from a circular low Earth orbit to a highly eccentric one. The TLI burn is sized and timed to specifically target the Moon as it goes around the Earth.

The burn is timed so that the spacecraft comes near apogee (closest point) as the Moon comes close by. Finally, the spacecraft gets into the Moon's sphere of influence, further creating a hyperbolic lunar swingby.

Chandrayaan-3's mission objectives are threefold: to perform a safe soft landing near the lunar south pole, to deploy a rover and demonstrate its operation, and to perform in-situ scientific experiments. The spacecraft carries seven advanced scientific instruments designed to analyze the lunar soil and study the moon's environment.

These instruments will provide valuable data about the surface, subsurface, and the presence of water ice, potentially paving the way for future human missions.

Upon reaching the moon's orbit, the lander will detach itself from the propulsion module and attempt a soft landing on the lunar surface. If successful, India will join the elite group of nations - the United States, Russia, and China - that have achieved this feat. The landing is currently planned for August 23-24.

Once on the lunar surface, the rover will conduct a series of groundbreaking experiments using its payloads RAMBHA and ILSA during its 14-day mission. These experiments will help scientists better understand the moon's atmosphere and mineral composition.

Also Read:Happy Birthday, Ethereum!: Vitalik Buterin celebrates Ethereum's birthday in Bengaluru with 'ghevar' cake, masala dosa

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Chandrayaan-3 to exit Earth's orbit as it inches closer to moon - Business Today