Venionaire Web3’s Post

Paying etherum's gas fee used to be a real menace 😐. Ethereum's mainnet has become synonymous 🫱🫲 with high gas fees and congestion, particularly during peak usage times. With issues of scaling, and high demand for transactions, often leading to fees that can deter users from engaging with the blockchain. Then came the layer 2 solutions (just genius) There are many layer 2 solutions for Ethereum right now. One of the most promising ones are Rollups. These are layer 2 solutions which keep funds on the blockchain, but migrate most of the work to sidechains to alleviate the workload from the main eth chain. The two main categories are ZK Rollups and Optimistic Rollups. This offloading not only reduces gas fees but also enhances transaction speeds, providing a smoother user experience. L2s achieve this by batching multiple transactions together and submitting them to the Ethereum mainnet in a single operation, thus minimizing costs associated with individual transactions. But here's a dilema Many projects still require direct interaction with the mainnet for various reasons—such as executing smart contracts or conducting high-value transactions that necessitate the security and finality of Layer 1.  Consequently, users may still encounter high gas fees during these interactions. This begs the question: Is it possible for these projects migrate to L2s to minimize gas fees? what of projects deeply integrated in etherum ecosystem? what do you think?

Consensys is suing the SEC to defend the Ethereum ecosystem | ConsenSys Today, Consensys took an important step towards preserving access to the Ethereum blockchain, and by extension, permissionless innovation. Read More: https://lnkd.in/d5bt9wxC #mercadoimobiliario #construcaocivil #educacao #brittoimobiliaria #brittoescolatecnica #brittoempreendimentos

🇭🇰 As Hong Kong prepares to welcome its first Bitcoin and ETH ETFs on April 30th, the U.S. presents a stark contrast. Despite previously approving Bitcoin spot ETFs, the SEC’s ongoing hesitation to approve Ethereum ETFs highlights its uncertain regulatory approach—suggesting either indecision or intentional stalling. 😩"Interestingly, in the U.S., Consensys, a key driver behind Ethereum's decentralized community, is now suing the SEC to protect the Ethereum ecosystem. 🤔 This situation is quite ironic: the very country that nurtured the roots of decentralization, reflecting its foundational principles, now seems intent on shutting it down. This legal battle is crucial not just for Ethereum but for the entire decentralized web, including "MetaMask" a crypto wallet that many of us rely on daily. As a member of the global DeFi community, I recognize the importance of supporting initiatives that safeguard our freedom to innovate and develop without undue regulatory burdens. Thank you, Joseph Lubin, for leading this charge. Your efforts underscore the critical importance of our fight for a free and open digital future. If you’re a MetaMask user or active in the DeFi or Web3 space, your support is vital. #ETH #DeFi #Crypto Stay updated and support the cause here: https://lnkd.in/guPYRneu

Consensys was my first job out of college and the first opportunity I had to step into the world of decentralized systems/blockchain (now referred to as "Web3"). If you care about this industry, you should be paying attention to the SEC's actions. If you'd like to read the full suit, it's quite easy to digest and a great primer on the "security vs commodity" classification which has plagued the industry for years: https://lnkd.in/ebkkvEtV

It will be very interesting to see how federal courts from different circuits rule in whether crypto assets are in fact "securities" or fall out of that definition under the Howey Test. We could be looking at a future Supreme Court case developing if there is a true split among the circuit Court very very soon.

Innovation is fundamentally permissionless and decentralization, in that context, is foundational. Access to programmable decentralized computing frameworks is fundamental to any society that truly believes in pursuit of liberty and freedom - 🇺🇸 Open source is the quintessential example for such decentralization, so why not a programmable Ethereum network? We have seen the perils of big tech and centralization. High time! #ethereum #blockchain #smartcontracts #decentralization Consensys Way to go Joseph Lubin 👍

Ethereum is slower than a sloth 😩. We need faster finality which means... 👉 Finality Finality refers to the point at which a transaction (tx) or a block of txs becomes irreversible and is considered confirmed as part of the blockchain's history. 👉 Irreversibility Once a tx achieves finality, it cannot be undone, altered, or tampered with, ensuring that it remains immutable within the blockchain. 👉 Achieving Finality Achieving finality involves a consensus mechanism. This mechanism ensures that once a transaction is added to the blockchain, it is accepted by the network as the definitive and unchangeable version of that transaction. 👉 Ethereum’s Finality Ethereum is the go-to choice for rollup settlements due to its high liquidity. However, Ethereum isn't the quickest at finalizing transactions. It takes the blockchain 12 minutes to do so or 2 epochs. Epochs ?! 🥴 Yes. An epoch is a  time unit on the blockchain indicating important moments or milestones within the blockchain's ongoing operations. A slot is a smaller time unit within an epoch. Just like 1 minute = 60s, in Ethtereum, 1 epoch = 32 slots. 👉 How to achieve faster finality ? AltLayer has a solution to this, and if you’re interested in learning more, I’ll cover in in my newsletter ps: did you receive Alt Layer airdrop ? 👀

🌟 Thrilled to Share: Forbes Highlights Our Global Protocol Report 🌟 We're proud to announce that Forbes has featured the Global Protocol Report, a key project in collaboration with Inacta Ventures, Crypto Oasis, and Crypto Valley Association. This comprehensive report delves into 50 leading blockchain protocols, providing a deep dive into their performance, evolution, and the broader implications for the blockchain industry. Key highlights from the article: 🔹 Switzerland's central role in hosting top blockchain protocols and its significant market capitalisation. 🔹 An in-depth analysis of various protocol categories, particularly focusing on Smart Contract & dApps Platforms. 🔹 Innovative solutions to scalability challenges, including layered architecture and sharding. 🔹 The shift towards Proof-of-Stake mechanisms. 🔹 Insightful exploration of blockchain applications, from NFT marketplaces to smart energy grids, and the critical role of regulatory frameworks. Special thanks to Dr Jemma Green from Powerledger for her insightful analysis and to our partners for making this collaboration a success. This recognition by Forbes underscores the importance of our work and the transformative potential of blockchain technology. We invite you to read the full article and join us in shaping the future of blockchain. 🔗 https://lnkd.in/dZAyXZcv

Today, Consensys filed litigation against the U.S. Securities and Exchange Commission to preserve access to ether in the U.S., and by extension, the Ethereum blockchain and permissionless innovation. While we don’t take this step lightly, we feel compelled to speak up on behalf of the Ethereum community and the future of our industry. From the very beginning, our mission at Consensys has been to empower people and communities through access to blockchain technologies. Today we are proud to take bold action to protect that freedom. Ethereum is for everyone. https://lnkd.in/e-HDGQVi

Fungible Tokens, Non-Fungible Tokens And ENS (Ethereum Name Service). Fungible Tokens: They are; - Interchangeable and identical - Can be replaced by another identical token - Value is equal and uniform - Examples are: cryptocurrencies (Bitcoin, Ethereum), stablecoins, and utility tokens - There characteristics: They are Divisible, Indistinguishable and have Uniform value. Non-Fungible Tokens (NFTs): They are; - Unique and distinct - Cannot be replaced by another token - Value is unique and varies - Examples are: digital art, collectibles, rare in-game items, and event tickets - There Characteristics: They are Indivisible, Distinctive and have Variable value. ENS stands for Ethereum Name Service. It’s a decentralized, open, and extensible naming system based on the Ethereum blockchain. ENS allows users to map human-readable names to blockchain addresses, making it easier to interact with decentralized applications and wallets.