Post by Liam on Mar 3, 2023 13:55:21 GMT 7
On February 23, Coinbase launched Base, an Ethereum Layer 2 (L2) network built on top of the main Ethereum blockchain. L2 networks like Base provide a secure, user-friendly way for developers to build decentralized applications on the Ethereum blockchain.
Erik Anderson, senior digital assets research analyst at Global X, says Base and other L2 networks are a critical part of Ethereum’s long-term scaling process.
“Coinbase’s launch of Base is a major show of commitment to scaling the Ethereum network, as well as to the principles of decentralization and security,” Anderson says.
The same day, the International Monetary Fund (IMF) released a paper with nine policy recommendations for how countries around the world should approach cryptocurrencies. The IMF recommends countries implement clear crypto tax rules and laws, safeguard against excessive capital flows and not adopt crypto as legal tender.
At the Daily Journal (DJCO) annual shareholder meeting in February, 99-year-old billionaire Berkshire Hathaway (BRK.A, BRK.B) vice chairman Charlie Munger called cryptocurrency “crazy, stupid gambling” and said crypto investors who disagree with him are “idiots.”
Munger and Berkshire CEO Warren Buffett have long opposed cryptocurrency investing, and Buffett famously called Bitcoin “rat poison squared” back in 2018.
What To Watch In March
Since the Ethereum merge was completed last year, staked ETH has been locked on the network. The upcoming Shanghai upgrade will allow users to remove their staked ETH coins for the first time.
Anderson says the Shanghai upgrade, which is scheduled to occur in March, is one of the most highly anticipated upcoming events in the crypto world.
“Now that the merge has been successfully completed, the Shanghai upgrade is the next step in Ethereum’s roadmap, allowing users to quickly and easily stake and unstake ETH,” he says.
In coming weeks, investors can anticipate some potential volatility in Ethereum prices tied to the upgrade.
Ethereum successfully completed its transition from a Proof of Work (PoW) consensus mechanism to a less energy-intensive Proof of Stake (PoS) consensus mechanism in September 2022. Rather than mining ETH by using specialized computers to solve complex computational puzzles, Ethereum investors can now stake 32 ETH to take part in the blockchain validation process.
Erik Anderson, senior digital assets research analyst at Global X, says Base and other L2 networks are a critical part of Ethereum’s long-term scaling process.
“Coinbase’s launch of Base is a major show of commitment to scaling the Ethereum network, as well as to the principles of decentralization and security,” Anderson says.
The same day, the International Monetary Fund (IMF) released a paper with nine policy recommendations for how countries around the world should approach cryptocurrencies. The IMF recommends countries implement clear crypto tax rules and laws, safeguard against excessive capital flows and not adopt crypto as legal tender.
At the Daily Journal (DJCO) annual shareholder meeting in February, 99-year-old billionaire Berkshire Hathaway (BRK.A, BRK.B) vice chairman Charlie Munger called cryptocurrency “crazy, stupid gambling” and said crypto investors who disagree with him are “idiots.”
Munger and Berkshire CEO Warren Buffett have long opposed cryptocurrency investing, and Buffett famously called Bitcoin “rat poison squared” back in 2018.
What To Watch In March
Since the Ethereum merge was completed last year, staked ETH has been locked on the network. The upcoming Shanghai upgrade will allow users to remove their staked ETH coins for the first time.
Anderson says the Shanghai upgrade, which is scheduled to occur in March, is one of the most highly anticipated upcoming events in the crypto world.
“Now that the merge has been successfully completed, the Shanghai upgrade is the next step in Ethereum’s roadmap, allowing users to quickly and easily stake and unstake ETH,” he says.
In coming weeks, investors can anticipate some potential volatility in Ethereum prices tied to the upgrade.
Ethereum successfully completed its transition from a Proof of Work (PoW) consensus mechanism to a less energy-intensive Proof of Stake (PoS) consensus mechanism in September 2022. Rather than mining ETH by using specialized computers to solve complex computational puzzles, Ethereum investors can now stake 32 ETH to take part in the blockchain validation process.