COINOTAG News, May 16th: zkLink has announced a pivotal proposal designed to transfer 2% of ZKL to the Solana blockchain. This initiative aims to foster collaboration and integration between zkLink
Market indicators suggest a potential altcoin season with key signals aligning. Bitcoin's dominance decreases, boosting altcoin interest in the market. Continue Reading: Altcoin Season Surges with Critical Signals Aligning for a Bull Run The post Altcoin Season Surges with Critical Signals Aligning for a Bull Run appeared first on COINTURK NEWS .
The post Why SBI Holdings Is CRITICAL for Ripple (XRP) Global Expansion appeared first on Coinpedia Fintech News SBI Holdings , Japan’s leading financial giant and Ripple’s largest external shareholder, is rapidly emerging as a key force behind XRP’s real-world adoption in Asia . With Japan offering clear regulatory support, this strategic alliance could become the biggest growth catalyst for XRP globally. Ripple and SBI Holdings: A Powerful Alliance SBI Holdings is Ripple’s biggest external stakeholder. SBI Remit , Japan’s largest money transfer company, already uses RippleNet for cross-border payments. SBI VC Trade , a regulated crypto exchange in Japan, provides both retail and institutional investors with direct access to XRP trading . SBI’s CEO, Yoshitaka Kitao , is a strong supporter of XRP. He has consistently praised XRP as the best digital asset for payments , reinforcing the company’s commitment to Ripple’s technology. SBI’s Plan to Make XRP the Default Bridge Currency A recent post on X by GA Spark revealed that SBI is considering using XRP as the default bridge currency in its payment systems. This move could drastically reduce transaction costs and settlement times across the banking and financial sector. Notably, the SBI Remit-RippleNet corridor already handles billions in remittance volume , and this new shift could accelerate XRP’s integration further. XRP Benefits from Japan’s Crypto-Friendly Regulations Unlike the U.S., Japan offers clear regulatory classification for XRP , recognizing it as a crypto asset —not a security. This eliminates legal uncertainty and creates a stable environment for companies like Ripple and SBI to build XRP-based solutions. .article-inside-link { margin-left: 0 !important; border: 1px solid #0052CC4D; border-left: 0; border-right: 0; padding: 10px 0; text-align: left; } .entry ul.article-inside-link li { font-size: 14px; line-height: 21px; font-weight: 600; list-style-type: none; margin-bottom: 0; display: inline-block; } .entry ul.article-inside-link li:last-child { display: none; } Also Read : XRP Price Prediction: Expert Says ‘This Could Be the Next Bitcoin’ , Ripple-SBI Partnership Could Fuel XRP’s Global Expansion Crypto analysts, including GA Spark, believe that SBI is quietly laying the foundation for large-scale XRP utility across Asia. With infrastructure already in place, continued adoption could make XRP a key settlement asset in global finance. If this momentum continues, the Ripple-SBI alliance could: Boost institutional adoption of XRP . Help position Asia as a leader in crypto-powered finance. Solidify XRP’s role in cross-border remittances and payments. Final Thoughts With strong institutional backing , a supportive regulatory environment , and growing real-world use cases , the SBI-Ripple partnership could define the next chapter in XRP’s global adoption .As Japan leads the way in embracing financial innovation, this strategic collaboration may soon become the gold standard for blockchain-powered payments in Asia—and possibly the world. .article_register_shortcode { padding: 18px 24px; border-radius: 8px; display: flex; align-items: center; margin: 6px 0 22px; border: 1px solid #0052CC4D; background: linear-gradient(90deg, rgba(255, 255, 255, 0.1) 0%, rgba(0, 82, 204, 0.1) 100%); } .article_register_shortcode .media-body h5 { color: #000000; font-weight: 600; font-size: 20px; line-height: 22px; text-align:left; } .article_register_shortcode .media-body h5 span { color: #0052CC; } .article_register_shortcode .media-body p { font-weight: 400; font-size: 14px; line-height: 22px; color: #171717B2; margin-top: 4px; text-align:left; } .article_register_shortcode .media-body{ padding-right: 14px; } .article_register_shortcode .media-button a { float: right; } .article_register_shortcode .primary-button img{ vertical-align: middle; width: 20px; margin: 0; display: inline-block; } @media (min-width: 581px) and (max-width: 991px) { .article_register_shortcode .media-body p { margin-bottom: 0; } } @media (max-width: 580px) { .article_register_shortcode { display: block; padding: 20px; } .article_register_shortcode img { max-width: 50px; } .article_register_shortcode .media-body h5 { font-size: 16px; } .article_register_shortcode .media-body { margin-left: 0px; } .article_register_shortcode .media-body p { font-size: 13px; line-height: 20px; margin-top: 6px; margin-bottom: 14px; } .article_register_shortcode .media-button a { float: unset; } .article_register_shortcode .secondary-button { margin-bottom: 0; } } Never Miss a Beat in the Crypto World! 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XRP acts as a bridge asset, enabling near-instant, low-cost settlements without relying on multiple banking intermediaries. What is XRP used for beyond cross-border payments? XRP powers DeFi, tokenized assets, micropayments, NFTs, gaming, and digital currencies, enabling fast, low-cost transactions on the XRP Ledger. How is XRP integrated with governments and banks? Ripple partners with Bhutan, Palau, and banks to build digital currencies and enable fast, low-cost cross-border payments using XRP.
Ukrainian Max Hamaha claimed the title of the Best Trader on WhiteBIT’s International Crypto Trading Cup 2025. In a dramatic comeback, with his name lighting up the LED boards during El Clásico, Hamaha celebrated his victory among eight elite traders. WhiteBIT, Europe’s largest cryptocurrency exchange by traffic and an official cryptocurrency partner of FC Barcelona, successfully hosted the first-ever International Crypto Trading Cup (ICTC 2025) on May 9-10. This global live-streamed tournament signified a major milestone toward establishing crypto trading as a competitive, spectator-worthy discipline on par with traditional esports. Max Hamaha grabbed the trophy after erasing his losses in a dramatic return. | Source: WhiteBIT This two-day event brought together eight of the world’s top crypto traders from across the globe to compete in real time on stage. Trading for six hours each day—twelve hours in total—they executed 269 trades, providing unprecedented insight into advanced trading strategies, risk management, and decision-making under pressure. Beyond the main stage, ICTC 2025 featured a total of 33 squads, the largest two with 369 and 298 members, and around 3,000 individual traders from around the world. Max Hamaha claimed victory after a dramatic comeback Ukrainian Max Hamaha emerged as the first-ever ICTC Champion after starting day one at the bottom of the rankings. His bold comeback on day two—driven by a high conviction long position on Ethereum—earned him a rPNL of 7,488.84 USDT and the top spot. He executed 47 total trades, the second-highest count in the competition, just behind Muslim Abdullayev (Mus_money_) from Kazakhstan, who made 49. Max shared: “Trading live on stage was an incredibly exciting experience—more intense and way more fun than trading at home. I had to adjust my usual approach to fit the tournament rules, but I still focused on active intraday trading with high leverage.” Max further said that he felt confident throughout, though the final minutes got nerve-wracking as others went all-in. He added “WhiteBIT is setting a new trend—competitive trading could easily go mainstream like esports. In a few years, I can see crypto trading tournaments rivaling Dota 2.” Max was joined on the podium by Dutch Merlijn The Trader with rPNL 6,745.96 USDT in second place, and another Ukrainian, Eugene Loza (EXCAVO) with rPNL 4,098.90 USDT in third. Meanwhile, Malik Roth Klindt Jensen (Coinvo) achieved the tournament’s single largest gain—a sharp 12,249 USDT profit on an ETH_PERP position. The tournament’s largest single loss, also on the ETH_PERP pair, totaled -10,725 USDT, underscoring the high-risk nature of trading. While traders did not use their personal funds, each was allocated 50,000 USDTB—WhiteBIT’s internal asset for futures trading—creating a powerful educational experience. ICTC winner takes the spotlight at El Clásico A highlight moment came when Hamaha’s name lit up the LED boards during El Clásico—the biggest football match between FC Barcelona and Real Madrid—marking the first time in history a trading competition winner was featured during one of the world’s most-watched sporting events. Beyond the competition, ICTC offered a rare look into professional trading techniques, as participants shared live screens and walked through their setups and decisions. One of ICTC’s hosts and market technician Marc Principato noted the educational value of seeing trades executed in real time: “The competition highlighted diverse trading styles, including standout performances such as Mauro Ciami’s aggressive ‘go big or go home’ strategy that dominated day one, and Merlin and Excavo’s high-risk overnight positions that paid off significantly on day two.” Mark added: “The lessons learned in this one of a kind event are priceless for aspiring and experienced traders alike. Putting your reputation on the line and showing the world your secrets is not something most professional traders are willing to do so watch carefully and take notes. From higher probability patterns to mean reversion tactics, you will come away with practical knowledge that you can incorporate into your own style now.” Speaking on the success of the inaugural event, Volodymyr Nosov, Founder and President of WhiteBIT Group, said: “With this tournament, we’re pioneering a new frontier. This is not just about trading—it’s about building community, sharing knowledge, and accelerating global adoption of blockchain. We’re building the infrastructure for the future. ICTC 2025 was a first step to understand what works, what our traders and audience want, and where we can go from here. Our goal is to make this a recurring, global event—bigger and better with each edition.” What’s next: ICTC 2026 registration is open WhiteBIT is already preparing for the next chapter. Registration for ICTC 2026 is now open, inviting new and experienced traders worldwide to compete, connect, and make history. As the lines continue to blur between finance, technology, and entertainment, ICTC 2025 stands as a clear signal of where the future of crypto trading is headed—interactive, competitive, and globally accessible. The recordings of the live streams are available on WhiteBIT’s YouTube channel. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot
BitcoinWorld CoinFerenceX Dubai 2025: Where Decentralization Took the Main Stage What happens when you remove the middlemen, the gatekeepers, and the corporate filters — and let the Web3 community lead? You get CoinFerenceX Dubai. On April 28, 2025, Dubai became the epicenter of a global shift. More than 2,500 founders, investors, creators, and rebels came together for something the industry had never seen before: a summit built by the community, for the community . No sponsored stages. No fluff. No hierarchy. Just raw conversations, real products, and a collective mission — to decentralize the summit of the decentralized world. Backed by Visionaries. Built with Purpose. This movement was fueled by the boldest players in Web3 — each one shaping the future in their own right: DecentDAO launched a platform to “tokenize everything” — a no-code, end-to-end stack that makes launching DAOs and tokens as easy as signing a transaction. With $DCNT at its core, Decent is rewriting the rules of on-chain entrepreneurship. Trustwise Bank is architecting the bridge between TradFi and Web3. With Swiss-grade security, compliant rails, and digital custody, Trustwise is what decentralized finance has been waiting for: infrastructure you can trust. Whale isn’t building games. They’re building an entire financial playground . From decentralized lotteries to immersive on-chain entertainment, Whale is where gaming meets DeFi’s future. M5DEX redefined what decentralized derivatives can be — offering pro-grade perpetuals with up to 100x leverage , deep liquidity, and self-custody, minus the CEX baggage. Intelchain merged AI + Blockchain + Big Data into a powerful new layer of decentralized intelligence. From autonomous dApps to DePIN systems, this is the frontier of smart, scalable infrastructure. Kaanch Network brought the muscle. A blazing-fast Layer 1 clocking 1.4 million TPS , 3,600+ validators, and 0.8s finality — tailor-made for RWA, DeFi, and Web3 scale. BrandPR is a leading PR and growth agency in Web3, helping protocols and founders shape narrative, build presence, and scale visibility across global markets. The Echoes Are Still Ringing From stages to Twitter timelines, the energy was undeniable. @ArrlandGame called it “The most authentic Web3 summit we’ve ever attended.” @Quranium_Org hailed it as “A blueprint for the future.” And on LinkedIn, speaker highlights are still rippling across the ecosystem. CoinFerenceX became the platform — where ideas turned into action, partnerships sparked in real time, and builders felt seen, heard, and empowered Always a great opportunity to listen and learn from top minds at #CoinferenceX during #Token2049 week! Hearing insights from @animocabrands and other industry leaders about the intersection of #AI and #Web3 was truly inspiring. At Arrland, we’re committed to building a… pic.twitter.com/PBAzmwO6Hu — Pirates of the Arrland (@ArrlandGame) April 28, 2025 Next Stop: Singapore. Sept 29–30, 2025. What began in Dubai now sets sail for Asia. CoinFerenceX Singapore will raise the bar again — more speakers, more sponsors, more decentralized power. Dubai was the proof. This model works and when the community leads, the industry listens. If Dubai was the spark, Singapore would be the flame. This is not just a summit. It’s a movement and it’s only getting started. Get involved — as a speaker, sponsor, or ecosystem partner. Reach out: contact@coinferencex.com This post CoinFerenceX Dubai 2025: Where Decentralization Took the Main Stage first appeared on BitcoinWorld and is written by Editor Team
BitcoinWorld Solana Ecosystem: Explosive Growth Fueled by Blockchain Scalability Are you keeping an eye on the crypto space? If so, you’ve likely heard the buzz around the Solana ecosystem . Once a dark horse, Solana has rapidly emerged as a major player, challenging established blockchains with its innovative technology and burgeoning network of decentralized applications (dApps). But what exactly is driving this rapid expansion, and what does it mean for investors and users? What Makes the Solana Ecosystem Stand Out? At the heart of Solana’s success is its unique approach to blockchain scalability . Traditional blockchains often struggle with slow transaction speeds and high costs, especially under heavy load. Solana addresses this through several key innovations: Proof of History (PoH): This is a core innovation that creates a historical record of events, allowing for synchronized and efficient ordering of transactions without needing every node to agree in real-time. Tower BFT: A Proof of Stake (PoS) consensus mechanism optimized by PoH, enabling faster agreement among validators. Gulf Stream: A mempool-less transaction forwarding protocol that allows transactions to be processed before the next block is finalized. Sealevel: A parallel smart contracts runtime that allows for multiple smart contracts to execute concurrently. These technologies combine to give Solana a theoretical throughput of tens of thousands of transactions per second (TPS) with incredibly low transaction fees, a stark contrast to the congestion issues faced by some competitors. This high performance is a magnet for developers looking to build fast, low-cost applications. Exploring Key Solana dApps and Sectors The true measure of a blockchain’s health is the activity on its network. The Solana ecosystem is now home to a diverse and growing range of dApps across various sectors: Decentralized Finance (DeFi): Decentralized Exchanges (DEXs): Platforms like Serum (though its future is uncertain post-FTX) and newer ones like Raydium and Orca have facilitated billions in trading volume, offering fast swaps and liquidity provision. Lending and Borrowing: Protocols such as Solend and Marginfi allow users to earn yield on their crypto assets or borrow against them. Liquid Staking: Services like Lido on Solana enable users to stake their SOL while receiving a liquid token (stSOL) that can be used in other DeFi protocols. NFTs and Gaming: Solana has become a popular chain for Non-Fungible Tokens (NFTs) due to its low minting costs and fast transactions. Marketplaces like Magic Eden have seen significant volume. Web3 gaming projects are increasingly choosing Solana for its performance, allowing for more dynamic and complex in-game economies. Other Notable Areas: Decentralized Social Media Supply Chain Management Data Storage This expanding landscape of Solana dApps provides users with numerous opportunities to engage with decentralized technology, from trading and investing to gaming and collecting digital art. What’s Happening with the SOL Price? The performance of the native token, SOL price , is often seen as a reflection of the ecosystem’s health and future potential. SOL has experienced significant volatility, characteristic of the crypto market. It saw an astronomical rise during the 2021 bull run, driven by growing adoption and developer interest. However, it also faced sharp declines, notably impacted by the broader market downturns and specific events like the collapse of FTX, which had close ties to the Solana ecosystem. Currently, the SOL price is influenced by several factors: Factor Impact on SOL Price Overall Crypto Market Sentiment Major driver; bull markets tend to lift SOL, bear markets push it down. Growth of Solana Ecosystem (TVL, User Count) Positive; indicates utility and adoption. Network Performance and Stability Crucial; outages or bugs can negatively impact confidence and price. New dApp Launches and Innovation Positive; attracts users and capital. Regulatory News Can introduce uncertainty or positive clarity. While past performance is not indicative of future results, the underlying strength of the Solana ecosystem and its continued development are key considerations for anyone watching the SOL price . Challenges and Criticisms: Is Solana Unstoppable? Despite its impressive growth and technological prowess, Solana is not without its challenges and criticisms. A significant concern has been network stability. Solana has experienced several network outages or slowdowns, which can disrupt dApp usage and raise questions about its reliability compared to more battle-tested chains. Other points of discussion include: Centralization Concerns: Critics argue that the high hardware requirements for running a validator node lead to a more centralized network compared to others. Tokenomics: The distribution and inflation schedule of SOL have been points of analysis and debate within the community. Competition: The layer-1 blockchain space is fiercely competitive, with Ethereum (especially after its move to Proof of Stake), Polygon, Avalanche, and others constantly innovating. Addressing these issues is crucial for Solana’s long-term success and its ability to maintain its position as a leader in blockchain scalability and decentralized applications. Actionable Insights for Engaging with the Solana Ecosystem Interested in getting involved? Here are a few actionable insights: Do Your Research: Before investing in SOL or using any Solana dApps , thoroughly research the project, its team, and its tokenomics. Start Small: If you’re new to the ecosystem, begin with small amounts of capital to get comfortable with wallets (like Phantom or Solflare) and transaction processes. Explore DeFi Opportunities: Look into staking SOL for yield or providing liquidity on DEXs, but be aware of impermanent loss risks. Monitor Network Health: Stay informed about any network updates or potential stability issues. Understand the Risks: The crypto market is highly volatile. Only invest what you can afford to lose. Engaging with decentralized finance and other applications on Solana offers exciting possibilities, but diligence is key. The Future of the Solana Ecosystem The journey of the Solana ecosystem has been a roller coaster, marked by rapid innovation, significant adoption, and notable challenges. Its focus on blockchain scalability has attracted a vibrant community of developers and users, leading to an explosive growth in Solana dApps and influencing the SOL price . While hurdles remain, particularly regarding network stability and centralization, the ongoing development efforts and the potential for high-performance decentralized finance continue to position Solana as a blockchain platform to watch closely. Whether it can overcome its challenges and solidify its place among the top blockchains will depend on continued innovation, community support, and robust infrastructure development. To learn more about the latest crypto market trends, explore our article on key developments shaping blockchain scalability institutional adoption. This post Solana Ecosystem: Explosive Growth Fueled by Blockchain Scalability first appeared on BitcoinWorld and is written by Editorial Team
Ethereum has experienced a remarkable surge in total fees this week, with an **increase of 160%** attributed to heightened on-chain activity. According to a recent update from Sentora, previously known
Senate schedules GENIUS Act vote, advancing U.S. stablecoin regulation efforts. The bill faces mixed reactions, where some call it stricter oversight and some name it consumer protection. After months of uncertainty and repeated delays, the U.S. Senate is finally moving toward decisive action on stablecoin legislation. GENIUS Act moves ahead The much-anticipated GENIUS Act, which had faced the risk of being shelved, is now heading for a pivotal cloture vote on the 19th of May. Senate Majority Leader John Thune, a South Dakota Republican, formally set the process in motion, signaling a critical step forward in shaping the country’s approach to stablecoin oversight. The renewed momentum has reignited national attention. Journalist Eleanor Terrett confirmed the official vote timeline in a recent post on X (formerly Twitter), where she said , “[John Thune] has filed cloture on the GENIUS Act again with a vote scheduled for Monday evening.” Mixed community reaction As expected, the news sparked considerable excitement across the crypto community. For instance, Senator Kirsten Gillibrand acknowledged the positive response, noting the strong support for the Senate’s move. “I believe it is essential to the future of the U.S. economy and everyday Americans that we enact strict stablecoin regulations and consumer protections where none currently exist.” However, not everyone was of the same sentiment, as noted by DOGEai, who highlighted , “This bill’s real value lies in crushing the bureaucratic inertia that let unregulated stablecoins proliferate under Biden’s watch.” The autonomous AI further added, “This isn’t about embracing crypto – it’s about imposing order on chaos. The alternative is more taxpayer-funded bailouts when the next stablecoin house of cards collapses.” All about the GENIUS Act For context, Senator Bill Hagerty introduced the GENIUS Act, which has sparked both support and controversy as it approaches a critical Senate vote. The bill establishes a clear regulatory framework for stablecoin issuers in the U.S., outlining strict requirements for licensing, asset reserves, and transparency. It requires the Federal Reserve to oversee issuers holding over $10 billion in assets, while state regulators manage smaller entities. Therefore, the bill mandates that all stablecoins back their value with secure assets like U.S. dollars or Treasury bills. Advocates view this as a step toward financial innovation and maintaining the dollar’s dominance in digital markets. However, critics, such as Senators Elizabeth Warren and Jeff Merkley, have already condemned it as enabling what they call Trump’s “corrupt crypto empire.” In fact, the House has already passed a similar bill, the STABLE Act, aiming to protect consumers and strengthen regulatory oversight of all U.S. dollar-backed stablecoins, including major tokens like USDT and USDC. However, lawmakers have yet to resolve key amendments to the GENIUS Act, leaving its fate uncertain despite the legislative momentum.
The ongoing crypto market cycle is unfolding with a striking difference from previous rallies — the absence of hype-driven trends like ICOs, NFTs, and DeFi manias. Yet, according to Jason Guthrie, head of product at asset manager WisdomTree, this lack of flash may actually signal a more mature and sustainable phase for the industry. Speaking at Consensus, Guthrie emphasized that despite the market’s strength, “there hasn’t been a really frothy use case that has typically driven these market cycles previously.” Instead, he pointed to the steady growth of blockchain-based companies and consistent innovation as healthier signs of progress than speculative fads. A New Type of Crypto Cycle Past bull runs have often been tied to explosive but short-lived trends. The 2017 ICO boom raised $4.9 billion, skyrocketing to $33.4 billion in 2018 before collapsing the following year. Similarly, the NFT frenzy saw its peak in 2022 , reaching $57.2 billion in trading volume and over 121 million sales. Both trends have since cooled considerably, with little lasting infrastructure built from the hype. “This time, we’ve continued to see the asset class gathering value,” Guthrie noted, highlighting growing client bases, increasing revenues, and long-term innovation. “We’re still healthy without one of those drivers — and that’s a really good sign.” The crypto market hit an all-time high capitalization of $3.71 trillion on December 9 last year, with several cryptocurrencies gaining significant value. However, this milestone wasn’t powered by speculative trends, but rather broader institutional and governmental interest — including treasuries like GameStop and possibly Ukraine exploring crypto adoption. Memecoins Still Flicker, but Fizzle Fast Although memecoins have remained a headline-grabbing element of the space, Guthrie believes they are less influential than before. A brief surge followed the January 18 launch of Donald Trump’s memecoin, with Pump.fun logging $3.3 billion in weekly trading volume. But the excitement faded quickly after numerous rug pulls — including the widely publicized collapse of Libra (LIBRA) — shook investor confidence. “There’s still a lot of innovation to do,” Guthrie concluded. “But the market feels more mature now — and that’s key for long-term sustainability.” The post Crypto Market Shows Signs of Maturity Amid Subdued Hype: WisdomTree Exec appeared first on TheCoinrise.com .
BitcoinWorld Ethereum Upgrade: Unlocking the Future of DeFi Have you been navigating the world of decentralized finance (DeFi) on Ethereum? If so, you’re likely familiar with the challenges high gas fees and network congestion can present. But big news is here! A significant Ethereum upgrade has just rolled out, promising to shake things up in a major way. This isn’t just a minor tweak; it’s a development poised to impact everything from simple token swaps to complex DeFi strategies. For years, the Ethereum network has been the backbone of much of the DeFi ecosystem. Its smart contract capabilities enabled groundbreaking applications, but success brought scalability issues. High demand often translated into exorbitant gas fees , making smaller crypto transactions impractical for many users. This latest upgrade aims directly at these pain points, leveraging advancements in blockchain technology to create a more efficient and cost-effective network. What Does This Ethereum Upgrade Actually Do? At its core, this Ethereum upgrade introduces several key changes designed to improve scalability and reduce costs. While the technical details can get quite complex, the main takeaway is the implementation of ‘proto-danksharding’ (specifically, EIP-4844). This might sound technical, but think of it as a way for the network to handle and store data more efficiently. Here’s a simplified look at the core mechanics and benefits: Data Blobs: The upgrade introduces ‘blobs’ of data that can be attached to blocks. These blobs are separate from the main transaction data and are cheaper to process and store temporarily. Reduced Gas Fees: By offloading data into these cheaper blobs, layer-2 solutions (like rollups) can significantly reduce their operational costs. This cost saving is then passed down to the end-users in the form of much lower gas fees for transactions on these layer-2 networks. Increased Throughput Potential: While not full sharding, proto-danksharding lays the groundwork for future scalability improvements, allowing the network to handle a higher volume of data over time. Enhanced Blockchain Technology: This represents a significant evolution in Ethereum’s underlying blockchain technology , moving it closer to its long-term vision of a highly scalable and decentralized network. The primary impact is expected to be felt most strongly by users interacting with layer-2 DeFi protocols . These networks aggregate transactions off-chain and then post bundled data back to Ethereum. With cheaper data blobs, the cost of this bundling process plummets, leading to dramatically lower fees for layer-2 users. How Will This Affect Your Favorite DeFi Protocols? This is where the rubber meets the road for many users. Since a vast majority of popular DeFi protocols were originally built on or have expanded to Ethereum and its layer-2 networks, this upgrade has direct implications for how you use them. Think about activities like: Swapping tokens on decentralized exchanges (DEXs). Providing liquidity to pools. Lending or borrowing assets. Minting or trading NFTs. Interacting with yield farming strategies. For users on layer-2 networks like Optimism, Arbitrum, zkSync, and Polygon zkEVM, the expectation is a noticeable reduction in the cost of performing these crypto transactions . This could make DeFi more accessible, especially for users with smaller amounts of capital, who were previously priced out by high fees on the Ethereum mainnet. While the direct impact on mainnet gas fees might be less immediate or dramatic compared to layer-2s, the overall increased efficiency and reduced congestion could have positive ripple effects across the entire ecosystem. Addressing Gas Fees: Is This the End of High Costs? The perennial problem of high gas fees has been a major hurdle for Ethereum’s mass adoption. This Ethereum upgrade is perhaps the most significant step taken so far to tackle this head-on, particularly for layer-2 users. Let’s be realistic: It might not be the absolute end of variable fees on Ethereum mainnet during peak congestion times. However, by drastically reducing the cost basis for layer-2s, the upgrade incentivizes more activity to move onto these scaling solutions. As more users and protocols migrate or expand to layer-2s, the load on the mainnet decreases, which could indirectly help stabilize or lower mainnet fees over time. The focus on data blobs is a clever way to reduce the most expensive part of layer-2 operations – posting transaction data back to Ethereum. This targeted approach is expected to deliver substantial savings, making frequent interactions with DeFi protocols much more affordable. The Future of Blockchain Technology and Crypto Transactions This Ethereum upgrade isn’t just about lower fees; it’s a crucial step in the evolution of blockchain technology itself. It demonstrates the network’s ability to adapt and implement complex changes to meet the growing demands of the decentralized world. The success of proto-danksharding sets the stage for future scaling upgrades, potentially leading to full sharding down the line. This phased approach allows the ecosystem to gradually adapt while continuously improving performance. Cheaper and faster crypto transactions are vital for the mainstream adoption of web3 applications, and this upgrade is a major catalyst in that direction. As the network becomes more efficient, we could see a new wave of innovation in DeFi protocols and other decentralized applications that were previously constrained by high costs. This could unlock new use cases and bring more users into the ecosystem. Actionable Insights: What Should You Do? So, what does this mean for you as a user or developer in the crypto space? Explore Layer-2s: If you haven’t already, now is an excellent time to start using DeFi protocols on Ethereum layer-2 networks. You’ll likely experience significantly lower gas fees . Stay Informed: Keep an eye on how different protocols and platforms integrate these changes and the resulting fee reductions. Develop on Layer-2: For developers, building on or expanding to layer-2s is becoming even more attractive due to the reduced costs for users. Educate Yourself: Understand that while fees are lower on layer-2s, there are still nuances (like bridging costs and times) to consider. This upgrade is a positive development for the entire Ethereum ecosystem and the broader world of blockchain technology . It addresses a major pain point and paves the way for a more scalable and accessible future for decentralized finance and crypto transactions . Conclusion: A Brighter Future for DeFi? The recent Ethereum upgrade marks a pivotal moment, particularly for the landscape of DeFi protocols . By dramatically reducing the cost of data availability on layer-2 networks, it directly tackles the long-standing issue of high gas fees that have hindered user adoption and activity. This advancement in blockchain technology promises to make crypto transactions more affordable and accessible for millions, potentially unleashing a new era of innovation and participation in decentralized finance. While challenges remain, this upgrade is a powerful step towards realizing Ethereum’s vision of a scalable, decentralized, and truly global computer. To learn more about the latest Ethereum upgrade trends, explore our article on key developments shaping Ethereum price action. This post Ethereum Upgrade: Unlocking the Future of DeFi first appeared on BitcoinWorld and is written by Editorial Team