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Crypto

Ethereum Merge Could Happen in August, Milady NFT Prices Plummet

Crystal Xue
Crystal Xue

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


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Crypto

Crystal Xue

Crystal Xue is a Content Marketing Manager at Alpaca. She's passionate about financial literacy and creating content that helps investors navigate financial concepts and products.