The Crypto Bear & Terra 2.0
A timeline of Ethereum leading to The Merge
But first, a big thank you & an exciting update:
We have been hosting a series of Twitter Spaces Event with various DeFi personalities this month.
So far, we have had interesting conversations ranging from DeFi to NFTs with speakers such as @shivsakhuja, @wagmiAlexander, @rektfoodfarmer, @MetaWomenNFT2, and have absolutely had a blast!
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101 today:
A topic we explain —
A brief timeline of Ethereum leading to The Merge
Major happenings in the ecosystem —
A16z’s $4.5 billion crypto fund, Terra 2.0, and the stablecoin pegged to the Mexican peso.
A Goldmine of a Twitter thread that sums it all up —
A threadoor on 20 Tips to Survive the Crypto Bear Market - Advice by Crypto OGs.
Here’s something to think of..
A Golden Twitter Thread:
A thread on 20 Tips to Survive the Crypto Bear Market - Advice by Crypto OGs.
One Topic:
Brief timeline of Ethereum leading to The Merge
What is Ethereum?
Ethereum is the second-largest blockchain network after Bitcoin. It is a decentralized network for running smart-contract powered dApps.
The white paper on Ethereum was written by Vitalik Buterin and was built by co-founders Anthony Di Loria, Charles Hoskinson, Miha Alisie, Amir Chetrit, Joseph Lubin, and Gavin Wood.
Ethereum uses Proof of Work mining technique and is in the midst of moving to Proof of Stake.
Here’s a detailed timeline of the Ethereum Network from late 2013 to 2021.
What is Ethereum 2.0 or Serenity?
Ethereum 2.0, also called ‘Serenity’ is an upgrade of the Ethereum network from the Proof of Work model to the Proof of Stake model. (PoW to PoS)
Eth1 is now popularly known as the "execution layer," where smart contracts and network rules reside, while Eth2 is referred to as the "consensus layer," which ensures that devices contributing to the network are acting in accordance with its rules.
Get used to the lingo:
This upgrade from Ethereum to Serenity is being done in stages:
Phase 0: Beacon chain - to achieve PoS consensus mechanism
Phase 1: Sharding - the data layer expansion
Phase 1.5: Merges Eth1.0 into Eth2.0 as a Shard
Phase 2: Shards executing contracts and transfers.
Understand more about it here:
As of this writing, we are anticipating Phase 1.5: The Merge.
It is expected to happen by August 2022.
What does the Merge bring to the table?
How would things be after the merge has been rolled out?
In this interview at Permissionless, @DeFi_Dad asked @preston_vanloon, a core developer at Ethereum, the same question.
Preston replied “As an end-user, you won’t be noticing any difference - you don’t have to upgrade your wallet, move your tokens or get anything issued. In the long term, though, the overall issuance of Ethereum will trend more towards deflationary.”
Today’s Special:
Cryptosocial - How Cryptocurrencies Are Changing Social Media
For the longest time, social media platforms have profited heavily from user-generated content. Decentralized social media aims to put the power & money back in its users’ hands. Cryptosocial: How Cryptocurrencies Are Changing Social Media, a recently launched book, talks all about how the two unrelated technologies had a chance meeting and are now changing the world together.
If you wish to understand what Cryptosocial exactly is and why it is the best alternative for mainstream web2 social sites - read the book!
Allen Taylor, the author of the book, is also an award-winning journalist and a former newspaper editor. He publishes a news digest almost thrice weekly in his decentralized newsletter Cryptocracy highlighting the most interesting cryptocurrency news & information about the emerging Web3 creator space. He keeps on consciously choosing not to take sides, but his natural snark and commentary refuse to let him remain neutral. 😎
Disclaimer: Through reciprocal agreement, Cryptocracy and DeFi Fridays are mentioning each other’s newsletter in our own this week.
In Other News: 📰
Terra 2.0 👀
Terra is relaunching a new chain alongside Terra classic and will airdrop LUNA tokens to users affected by the UST depeg.
Andreesen Horowitz goes big on crypto👀
A16z has raised $4.5b for seed and venture deals in crypto.
“Bear markets are often when the best opportunities come about - when people are actually able to focus on building technology rather than getting distracted by short-term price activity.” - @AriannaSimpson, General Partner at a16z investing in web3.
Tether is launching a stablecoin pegged to the Mexican peso.
This move comes after according to a report by Triple A, 40% of Mexican companies are looking to adopt blockchain and cryptocurrencies in some form to make Mexico a prime location for the next Latin American crypto hub.
That’s it for today, folks. 🪄
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