ValteFri, Sep 17, 2021 10:35 PM
Weekly Digest: Elon Musk's Shiba Inu & Floki Inu Price Pump
Every week we make a digest about the most significant news in crypto with bloggers and crypto community members, but this week we decided to find out what companies’ representatives and media think about all things crypto.
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The world’s largest NFT marketplace Opensea informed that Nate Chastain the head of product is guilty of using internal information to profit from the trading of big NFTs. He used internal data to purchase the digital items that were most likely to grow in price. A Twitter user also accused Chastain of using a secret Ethereum wallet to buy the NFTs ahead of their features on the main page.
“We are taking this very seriously and are conducting an immediate and thorough review of this incident so that we have a full understanding of the facts and additional steps we need to take.” — Devin Finzer, OpenSea CEO
After less than 24 hours after the Alonzo upgrade on the Cardano mainnet about 100 smart contracts were deployed. The upgrade is a result of 6-years of hard work and it makes Cardano the leader in providing accessible financial instruments. The next goal is to ensure that the Cardano is adopted by the major institutions.
“With this launch, commercialization is as much in the hands of the community as it is the system architects, and they are already delivering.” — Charles Hoskinson, Cardano Founder and CEO of IOHK
Ethereum price increased the surge after its co-founder Vitalik Buterin appeared in Time Magazine’s “100 Most Influential People List” of 2021 as one of the main innovators of the world. The list also includes world activists, leaders, musicians, and entrepreneurs, for instance, Elon Musk, the CEO of Tesla and SpaceX. Another possible reason for the ETH price to spike is a last-month’s London Hard Fork Upgrade.
“No one person could’ve possibly come up with all of the uses for Ethereum, but it did take one person’s idea to get it started,” — Alexis Ohanian, co-founder of Reddit
The mainnet of Beta Solana blockchain network went offline for over 16 hours due to the transactions overload that caused the platform’s work. This time brought up many existing concerns in Solana, but the network was upgraded to 1.6.12 and restarted by the validator community.
Swiss blockchain platform Taurus has successfully integrated the Cardano blockchain including staking capabilities. According to Taurus Twitter, the event shows a growing institutional demand for Proof-of-Stake blockchain protocol which is well represented in Cardano that was designed to fully support Alonzo Hard Fork. Cardano now will be available for Taurus clients, such as investment banks, crypto-banks, retail and digital banks that will get access to Cardano’s decentralized, open-source blockchain network.
Ernst & Young integrates its products including OpsChain and EY blockchain analyzer with Polygon to decrease the fees and congestion associated with transactions on the Ethereum mainnet for the enterprise customers. Now the transactions can be committed to Ethereum via sidechain. EY clients will get increased transaction throughput with reasonable fees and settlement times. The firm is also planning with the help of Polygon to offer permission, private, optimistic rollup chains.
“Working with Polygon provides EY teams with a powerful set of tools to scale transactions for clients and offers a faster roadmap to integration on the public Ethereum mainnet.” — Paul Brody, global blockchain leader at EY
Decentralized identity software firm Spruce is looking forward to seeing what an Ethereum-powered sign-in system offer to become a blockchain alternative to the data-harvesting identity services by tech giants. The Ethereum is to be used by Spruce who aims to give the users control over their own online identities without revealing their personal data to Google, Facebook, or Apple. Spruce collaborates with Ethereum Foundation and ENS to make sure that the solution is compatible with existing Ethereum standards.
“By standardizing this workflow, millions of Ethereum users will be able to use a digital identity that they fully control to seamlessly access the web,” — Spruce team
The price of Dogecoin fall after Elon Musk posted a picture of his Shiba Inu dog called Floki on his Twitter, which at the same time caused a 100% price surge for the Floki Inu token. Doge added 5% and started to lose the price due to a broad market sell-off. Compared to Doge, Floki is a deflationary token that rewards users for holding the asset.
More details about Floki Inu in our "Defying Gravity" series.