🔌 More Than 80% of Ethereum Miners Pull the Plug After Merge
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Lido’s stETH Back at Par with Ethereum in Heavy Action: Nansen
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Defiant Exclusive
🔌 More Than 80% of Ethereum Miners Pull the Plug After Merge
Ethereum Classic Hash Rate plunges 48% Since Shift to Proof of Stake
By Samuel Haig
HASH RATE Eight out of 10 Ethereum miners appear to have gone offline after The Merge, according to data from 2miners, a website tracking the hash rate of Proof of Work networks.
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👀 Sifu Resurfaces with New Money Market Protocol
Controversial Entrepreneur Forks Lending Venture From Aave
By Owen Fernau
INFAMOUS Few DeFi players are as irrepressible as Sifu. Undeterred by his exposure in January as the co-founder of QuadrigaCX, the infamous crypto exchange that lost $190M in customer deposits in 2019, Sifu launched a token last February.
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📺 Quick Take: Pound Gets Rugged + Huge Week For Crypto Markets
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🎙 Reviewing Ethereum 2.0 a week after The Merge
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🧐 What Is ENS?
A Step-by-Step Guide to Ethereum’s Domain Name System
ADDRESSES Ethereum Name Service is a blockchain equivalent to Domain Name System (DNS) that assigns addresses on the internet. ENS translates cumbersome Ethereum addresses comprising random numbers and letters into memorable names.
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Elsewhere
🔗 Disney hiring transaction lawyer for 'aggressive' NFT and DeFi plans: The Block
The Walt Disney Company is looking to hire a transaction lawyer to explore emerging technology opportunities, including NFTs, working at an "accelerated and aggressive timeline," according to a job posting on LinkedIn.
🔗 Interpol Issues Red Notice for Do Kwon: Report: CoinDesk
nterpol has issued a red notice for Terraform Labs co-founder Do Kwon, according to a report from Bloomberg.
Trending in The Defiant
Lido’s stETH Back at Par with Ethereum in Heavy Action: Nansen Almost six months after it first “de-pegged” from Ether, investors have flocked to Lido’s stETH token, pushing it back up to par with the second-largest cryptocurrency.
CFTC Action Against DAO Outrages Crypto and One of Its Own Commissioners In a case that has roiled the crypto community and triggered a dissent from one its own officials, the U.S. Commodity Futures Trading Commission (CFTC) brought an enforcement action yesterday that challenges fundamental tenets of decentralized finance.
NFT Volumes Surge on Solana NFT transactions on the Solana network are at an all-time high, surpassing 1M in the week ending Sept. 12 for the first time ever and 900,000 in the week ending Sept. 19. A blockchain created to address Ethereum’s high transaction costs and slow speeds, Solana has been having a moment.
🧑💻 ✍️ Stories in The Defiant are written by Owen Fernau, Aleksandar Gilbert, Samuel Haig, and yyctrader, and edited by Edward Robinson, yyctrader and Camila Russo. Videos were produced by Robin Schmidt and Alp Gasimov. Podcast was led by Camila, edited by Alp.
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🎓 Academic Proposal to Make Ethereum Transactions Reversible Divides DeFi Community
Critics Call Idea ‘Plain Stupidity’ But Supporters Embrace It As Defense Against Hacks
By Samuel Haig
NEWS Researchers at Stanford University have designed variations of Ethereum’s popular ERC-20 and ERC-721 token standards to enable reversible transactions. But the Ethereum community is largely panning the work.
HACKS Reversibility — the ability to redo transactions on blockchains — has long been a challenging project for crypto scientists.The Stanford team believe it may hold the key to making cryptocurrencies more protected from hackers. Chainalysis, the blockchain forensics firm, estimates that hackers stole $14B in crypto hacks during 2021.
OPPOSED Yet to make this proposition work, technologists would have to tinker with one of the most sacred properties in cryptocurrency systems: immutability. Many in the crypto community vehemently opposed allowing transactions to be reversed in any circumstances.
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