Ethereum could transition to proof-of-stake this August

Ethereum co-founder Vitalik Buterin confirmed that Ethereum's move from proof-of-work to proof-of-stake is scheduled for August, barring any unforeseen issues. The transition has been delayed for years and is a highly anticipated upgrade.

Currently, Ethereum's current proof-of-work model has miners competing to solve complex puzzles to validate transactions. This is resource-intensive and requires a lot of computer power and energy. By switching to a proof-of-stake model where transactions are validated by those who contribute to the network, Ethereum could become more efficient and eco-friendly. [1]

Shortly after adopting Bitcoin legal tender, the Central African Republic has shared plans to launch a major crypto initiative called Sango. Its goal is to create the first legal crypto hub recognized by a country’s parliament, including building a Digital Nation Bank, facilitating land purchases in Bitcoin, and creating a crypto wallet. [2]

According to the president of CAR, this initiative goes beyond politics and administration and has the potential to “reshape CAR’s financial system.”

Milady NFT prices fall due to its founder's scandal

Milady Maker, a collection of 10,000 anime-inspired avatar NFTs, has been hit hard this week following revelations that its founder, Charlotte Fang, was behind the “Miya” account associated with hate speech and online cults. The cheapest Milady NFT had previously sold for about $6,000 in April, but average floor prices plunged by 55% to $454 with the leak of the scandal. [3] In a Twitter apology for the “toxic baggage” that’s hurting the Milady community, Fang announced his resignation as CEO.

GameStop launches web3 Ethereum wallet in beta

Video game retailer GameStop has made its foray into the world of cryptocurrencies by unveiling an Ethereum self-custodial wallet. The wallet is set to integrate with the firm’s upcoming NFT platform and will enable gamers to store, send, and receive crypto and NFTs without ever leaving their web browsers. [4]

Sources

  1. Ethereum Co-founder Vitalik Buterin Says The Blockchain’s Highly Anticipated ‘Merge’ Will Happen In August

2. Central African Republic Teases 'Project Sango' Crypto Hub

3. Milady NFT Prices Fall 55% After Founder Embroiled in Disturbing Scandal

4. GameStop Unveils Beta Cryptocurrency Wallet and Upcoming NFT Platform

Please note that this article is for informational purposes only. Actual crypto prices may vary depending on the market price at that particular time. Alpaca Crypto LLC does not recommend any specific cryptocurrencies.

Cryptocurrency is highly speculative in nature, involves a high degree of risks, such as volatile market price swings, market manipulation, flash crashes, and cybersecurity risks. Cryptocurrency is not regulated or is lightly regulated in most countries. Cryptocurrency trading can lead to large, immediate and permanent loss of financial value. You should have appropriate knowledge and experience before engaging in cryptocurrency trading. For additional information please click here.

Cryptocurrency services are made available by Alpaca Crypto LLC ("Alpaca Crypto"), a FinCEN registered money services business (NMLS # 2160858), and a wholly-owned subsidiary of AlpacaDB, Inc. Alpaca Crypto is not a member of SIPC or FINRA. Cryptocurrencies are not stocks and your cryptocurrency investments are not protected by either FDIC or SIPC. Please see the Disclosure Library for more information.

This is not an offer, solicitation of an offer, or advice to buy or sell cryptocurrencies, or open a cryptocurrency account in any jurisdiction where Alpaca Crypto is not registered or licensed, as applicable.