Network Financial News

The executive chairman of MicroStrategy, Michael Saylor, does not like to be called out. He responded to a poll shared by Eric Wall, a crypto researcher, that suggested he had not used Bitcoin’s (BTC) layer-2 Lightning Network more than three times with a Twitter poll of his own.

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

 

The price of Bitcoin (BTC) has been relatively steady this week, hovering around $20,000. The flagship cryptocurrency is expected to bounce back in the fourth quarter, but that is not a guarantee. Despite the uncertainties, some positive developments have been made regarding Lightning Network expansion and development. The Lightning Network is Bitcoin’s main scaling solution, designed to make transactions cheaper and faster.

Celsius Network [CEL], the New Jersey-based bankrupt cryptocurrency lending company, managed to set the date for auctioning its assets. As per the document filed with the US Bankruptcy Court for the Southern District of New York on 3 October, Celsius will have its final auction on 17 October.

Bear markets are for building out capacity on the layer-2 Lightning Network. Despite macroeconomic headwinds and sluggish price action, the Lightning Network, the layer-2 payments solution fo Bitcoin (BTC), continues to flourish.

Beleaguered digital currency lender Celsius Network has revealed that it was not planning to ask its debtors to pay their outstanding loans during its Chapter 11 bankruptcy proceedings.

Cointelegraph reporter Joe Hall visited the country of Gibraltar to explore Bitcoin adoption on The Rock, as the peninsula is known locally, and how the adoption of bitcoin for shopping in the territory is impacting business.

web3.0 infrastructure protocol Pocket Network has announced an upgrade to its Pocket Portal service, which would enable web3.0 developers to create accounts, mint remote procedure call (RPC) endpoints for their dapps. This will also give access to blockchain information across any of the several blockchains supported by Pocket. ‘Pay-as-you-go’ (PAYG) and ‘Always Free’ tiers are part of the recently customised Pocket Portal service plans. Developers can receive up to 2,50,000 daily data relays for their dapps under the ‘Always Free’ tier. If a dapp’s traffic requirements are higher, developers may choose a simplified PAYG plan or may seek a unique plan from the Pocket network team.Ability to create an endless number of endpoints With the PAYG approach, developers can avoid paying a large amount of money upfront for relay traffic that they might not utilise by only paying for the data relays that their dapps actually use each month.

After the mining failure involving its stablecoin aUSD, the Acala Network announced on Monday that it had resumed its operations following a referendum allowing LPs to withdraw liquidity from pools or unstake LP tokens.

The Ethereum network's transaction prices (known as gas fees) have declined significantly since 2021, according to The Block.

Development activity on Polkadot [DOT] reached an all-time high among other blockchains. This is a major feat for the network as it continues to thrive by introducing upgrades at regular intervals.

Solana, house to leading projects such as Serum, Mango Markets, StepN, Magic Eden, and Star Atlas, has seen tremendous ecosystem growth in the last month.

Described by Glassnode as the “most impressive feats of engineering in the blockchain industry,” the final transition of the Ethereum network from the consensus mechanism of Proof-of-Work (PoW) to Proof-of-Stake (PoS) occurred on 15 September.

Sequel to its launch on the mainnet on 15 September, the proper take-off of the forked Ethereum Proof-of-work (ETH-PoW) has been hindered by glitches. As a result, the post-Merge PoW blockchain remains inaccessible just two days after its launch. 

The United States Department of Justice (DOJ) published its latest report in response to President Joe Biden’s March executive order (EO) on the development of digital assets on Sept. 16. At the same time, it announced the formation of a new Digital Asset Coordinator Network (DAC) “in furtherance of the department’s efforts to combat the growing threat posed by the illicit use of digital assets to the American public.”

Monero recently announced an upgrade that can easily be dismissed as another run-of-the-mill security update. A deeper dive, especially in regards to the reason behind the upgrade reveals that it is an important upgrade for security future-proofing.

A blockchain firm founded in 2012 is making its shares available for trading on a blockchain-based alternative trading platform for capital markets. 

Despite the Ethereum Merge being touted as a major upgrade to the blockchain network, its transition to proof-of-stake theoretically makes it more vulnerable to exploit.

Disclaimer: The text below is an advertorial article that is not part of Cryptonews.com editorial content.

According to data from DefiLlama, the total value locked (TVL) for all decentralized finance (DeFi) protocols housed within different chains stood at $59.18 billion. Impacted by the general decline in the cryptocurrency market, the TVL within the DeFi ecosystem has declined by 65%.