The Ethereum Foundation, which was established in Switzerland in 2014 to support the Ethereum ecosystem, has sold 700 Ether ($1.6 million). The sale is based on the foundation’s address, “0xd7… c1f4” via Cow Protcol.
While the time of sale was between 11.54 and 12.05 CET, the ETH sold was converted to 1,684,445 DAI. DAI were then sent back to the Ethereum Foundation for project payments.
Since Ethereum is a decentralized chain, the foundation does not have a direct impact on cryptocurrency and the chain, but the institution is still vital to the Ethereum ecosystem.
Dencun, awaiting EIP-4844
As it is known, one of the most important developments for the Ethereum ecosystem is currently on the way… The EIP-4844 update, also known as Dencun, makes scalability more efficient, especially in layer 2 networks.
The update solves the data storage problems in layer 2, known as “Layer 2”, which is much faster and cheaper than the Ethereum network. After the development, it is expected that the transaction speed on layer 2 will increase significantly and the fees will decrease.
Development is expected to be completed in February at best.
Published: January 22, 2024 13:33Last Updated: January 22, 2024 13:40
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