Hebdo Crypto #203 – Bitcoin and Cryptocurrency News of the Week
Briefly about the week of 08/08 – News about Bitcoin and cryptocurrencies is constantly boiling. It can happen that crucial information gets lost in the daily flow of information and you miss important points. This format is here to fix that. We come back tonews from the past week‘Crypto Weekly to inform you about the current situation with cryptocurrencies.
An unmissable angle
For the return of Unmissable du Coin, what could be better than a guide from our dear editorial director Gregory ? This week he donned his best HackerMan costume to bring you a tutorial on just that how to implement celestia validator node.
TECHNICAL WORK OF THE CELESTIA NETWORK
Celestia it has a very specific architecture. Traditionally, the blockchain design model combines a consensus mechanism and transaction execution. One of the approaches aimed at improving the scalability of the latter is based on sharding, that is, fragmentation of the data that make up the main chain.
With Celestia, the two layers – consensus and execution – are separated. The role of the consensus mechanism is only to ensure that block data is available. To do this, it uses evidence of data availability. Transactions are then executed off-chain: nodes no longer need to process them to ensure the validity of blocks.
Nodes randomly sample small portions of blocks in the chain. It is quite similar to peer-to-peer file sharing (BitTorrent) where files are shared between network nodes.
Once the blockchain is fully sampled, we get known evidence of the availability of said data.
Unlike “traditional” blockchains, Celestia is designed to provide evidence of data availability and consensus, not transaction execution. Celestia therefore relies on a network of lightweight nodes (allowing anyone to deploy a client in minutes) and full nodes for archiving and validation (the type of node we’ll learn to implement in this article).
Check out the full article for the rest of the guide : How to implement Celestia node complete guide.
Crypto news in a nutshell
▶ BlackRock Goes Bitcoin. So the fund discovered a trust reserved for its wealthiest clients that offers exposure to royal cryptocurrency assets.
▶ New CB to spend your cryptocurrencies. Payment processor Strike has announced the launch of its bank card in partnership with VISA.
▶ Tornado Cash damaged by the US Treasury. He accuses the protocol of enabling the laundering of billions of dollars. Since then, sanctions against Tornado Cash, its developers and users have increased manifold.
▶ Tether Announces Support for Ethereum in Proof of Stake. Therefore, the USDT issuer will not support any fork that aims to keep Proof of Work on Ethereum.
▶ Ripple Labs interested in Celsius funds. So the company announced that it wanted to learn more about Celzius and its assets in order to “know if any of them could be relevant to our business”.
▶ New week, new technical analysis on the coin trading side.
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5 metrics of the week
➤ September 15IT IS the date when the Merge update could be deployed on the Ethereum mainnet. This news follows the success of its implementation on the Goerli testnet.
➤ $570,000IT IS amount that was stolen from Curve Finance users by attacking his DNS server. Fortunately, 83% of these funds were able to be intercepted and frozen by Binance.
➤ 1 billion dollarsIT IS TVL (Total value locked) of the second layer of the Optimism solution. This makes it the second hottest L2 after Arbitrum.
➤ 31.82 th/sit’s here hashrate record set by the Ethereum Classic network. Therefore, it is experiencing renewed interest as the merger approaches. It remains to be seen whether this will continue after Ethereum’s transition to Proof of Stake.
➤ 79%it’s about decrease in volume recorded by the Tornado Cash protocol. In the turmoil that lasted more than a week, the number of protocol deposits dropped.
Tweet of the week
Tweet of the week goes to @screentimes and his highlighting the big problem behind Tornado Cash’s treatment.
Have a great week at Journal du Coin! 🙂
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