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Top Crypto News: 1/26 - ETH 2 Revamps as Consensus Layer


www.altcoinbuzz.io 26 January 2022 19:09, UTC
Reading time: ~3 m

Very few changes have taken place in the cryptocurrency marketplace this week.

As part of today’s top crypto news, Bitcoin is showing some form of respite and is currently trading at $38,256. That is a 5.9% price gain over the last 24 hours. Ethereum is also currently up by 11.1% in the last 24 hours. And currently trading at $2,643. However, in the grand scheme of things both Bitcoin and Ethereum are still in the red zone. With a price drop of 9.8% and 16.6% respectively.

According to analysts, crypto investors seem to be eagerly waiting for the minutes of the Fed Reserve conference. The result of the press conference will be announced today and will help investors make a decision about commencing trading again. For now, a great deal of the price increase noted might be the result of short-term traders returning to trade.

Let’s find out some interesting crypto news for today.

1. Hector DAO Completes Its CertiK Audit

Renowned Fantom-based decentralized reserve currency platform Hector DAO has completed its CertiK audit. This is in a bid to ensure top-notch security on its platform.

While identifying and fixing potential security risks. Alongside the audit announcement, Hector DAO also reiterated that all funds on its platform are ‘SAFU’. ‘SAFU’ is a popular crypto term used to denote Safe.

$HEC @CertiKCommunity

✅Funds are safu, there are no security risks!
▶️ Full Audit report via: https://t.co/XrMPHZXD1d
💡 Medium article with an explanation of some of their findings: https://t.co/ucZ7G5MzSs$HEC $FTM #CertikVerified #HectorDAO

— Hector DAO (4,4) (@HectorDAO_HEC) January 25, 2022

2. NFTs And Pop Culture

The Non-Fungible Tokens (NFTs) Space is one aspect of the blockchain and cryptocurrency space that has continued to rise exponentially. Several top social media platforms like Twitter and now YouTube have disclosed plans to integrate NFTs.

According to reports, several top NFT events are currently trending on Twitter. One of which is that American Singer and Songwriter, Madonna might be looking to purchase a Bored Ape Yacht Club NFT. Other trending NFT events involve Beanie, Rug Radio, and CryptoSkulls.

Hi @Madonna I've been saving this one for you ❤️🍌🦧🌈#justifymylove /// @BoredApeYC pic.twitter.com/zsMi4nm1nJ

— Lindsey Byrnes (@LindseyByrnes) January 3, 2022

3. ETH2 Now Consensus Layer

All things ETH2 will now be referred to as Consensus Layer. Decentralized, open-source blockchain Ethereum has been working on a move from a Proof-of-Work (PoW) mechanism to a Proof-of-Stake (PoS) mechanism. This move to a PoS mechanism was in a bid to solve ETH scalability issues.

Interestingly, Ethereum Foundation has released new details about its ETH2 platform. According to the foundation, it will no longer refer to its upgraded PoS chain as ETH2 but as its ‘Consensus Layer.

Adding that the name rebrand is in a bid to

  • Prevent scams,
  • Ensure inclusiveness,
  • Staking clarity, and
  • Lastly, prevent a broken mental model for new users.

In simple terms, Eth1 will be known as the Execution layer, and Eth2 as the Consensus layer. Together both the execution and consensus layer will make up the Ethereum Chain.

We've removed all uses of 'Eth2' terminology on https://t.co/v9gxnMUQFz

Find out why 👇 https://t.co/84uJXSD4q1

— ethereum.org (@ethdotorg) January 24, 2022

4. Seedify NFT Space

Launchpad platform for blockchain game and metaverse Seedify announced details of its upcoming NFT space. The foray into the NFT space is a major move for the Seedify ecosystem.

To keep its users informed, it has published details of its upcoming NFT space. Giving its users the opportunity to become acquainted with the utilities of its NFT ecosystem. While also getting timely and accurate information about its $SNFTS token airdrop.

🍙Today we want to introduce you to the first part of Seedify NFT Space whitepaper.

🎩Get to know the utilities of the NFT ecosystem we are building.

🍥As well as the first info regarding the $SNFTS token airdrop campaign.

🧩First part reveal:https://t.co/PEoAc63qbe

— Seedify (@SeedifyFund) January 24, 2022

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