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The Ethereum network will start staking rewards for coins in test mode. What will Ethereum staking rewards be like?



ethereum staking pool

On the Ethereum blockchain, staking rewards coins will be launched in test mode on the Ethereum blockchain. The full functionality will be rolled out as part of the “Shanghai” update What will Ethereum staking rewards be like?

The exchange rate of ETH has been showing a noticeable revival in the last 24 hours, jumping to the round mark of $1,200. Members of the cryptocommunity attribute this to positive news for the Ethereum blockchain. According to the developers of the network, they are launching in test mode the long-awaited withdrawal from the stacking of ETH coins.

On November 22, the Ethereum Foundation JavaScript Team announced the relaunch of testnet Shandong in the very next few days. This is the testnet, which is a precursor to the upcoming “Shanghai” update. It is the one that will allow all validators – ETH Coin Owners who have blocked their coins to secure the network – to take back some of their stacking money, as well as receive Ethereum staking rewards for helping.

For now, testnet Shandong will activate some of the feature set for early customer testing. Specifically, we’re talking about activating the EIP-4895 “Beacon Chain Withdrawals” block of suggestions to improve the network.

As Ethereum developer @vdWijden clarified a day later, there was a launch of a multi-client network for testing coin output. It currently supports Lodestar, Teku, Lighthouse, Nethermind and Geth.

Successes in this direction should inspire the Ethereum community. As a reminder, the BeInCrypto editorial board recently talked about how this is a very pressing issue right now.

Users have contributed about 15 million ETH to the stack. It’s been almost two months since the Merge update was completed and the main Ethereum network merged with the Beacon Chain. but no one still knows when they can get their ETH from stacking. Moreover, the Ethereum Foundation refrains from naming any clear timeline.

As of now, the Shanghai upgrade is expected to be rolled out next year. In addition to solving the coin problem on stacking, “Shanghai” is expected to reduce the cost of transactions on the second layer of the blockchain (L2), represented by scaling protocols such as Optimism or Arbitrum.

To become validators in the Ethereum ecosystem, users must block at least 32 ETH. However, on some platforms, including Lido, RockPool and StakeWise, it is possible to join an Ethereum staking pool and contribute only a part of the required amount.

According to a Nov. 20 report from Lido, the number of unique ETH stackers on the platform was well above the 100,000 mark. At the time of writing, that value was 102,800+.

Previously, we reported that Bitcoin mining difficulty has reached an all-time high.


Decentraland has a rental feature. How to rent land in Decentraland?



Decentraland renting

The Decentraland metaverse has a LAND rental feature. The rental tool will play a crucial role for community space and digital real estate platforms. How to rent land in Decentraland?

Decentraland’s white paper states that the new rental system uses an Ethereum transaction and a combination of signatures stored on a server operated by the Decentraland Foundation. The smart lease contract relies heavily on offline signatures. Offline signatures allow LAND owners to list their LANDs on Decentraland rentals without paying transaction fees.

By signing a listing, a smart contract can then verify that the signer created the listing. This provides a secure and decentralized rental mechanism. LAND owners can already list their LANDs (lots or buildings) for rent on Decentraland Marketplace.

First, owners approve a smart contract to lease an LAND on their behalf. Once approved, they can set the rent price per day in MANA tokens. The price per day multiplied by the number of days the tenant wants to rent, is what the tenant has to pay upfront and in total for that rent.

After receiving the rent, owners can put the LAND back on the lease or ask for it back. To return the LAND, a transaction must be sent confirming the transfer of the operator’s rights from the tenant to the owner, including the gas fee. During the lease, the owners cannot sell the LAND until they get the property back.

Land in Decentraland costs an average of $3,000. Leases will cost between 14 and 3,000 MANA per day ($5.75 to $1,230 at the time of writing). Meanwhile, the most expensive plot of land in Decentraland has ever been priced at $3.5 million. The Fashion Street Estate plot sold at the end of November 2021 for 618,000 MANA.

We previously reported that a Chinese court ruled that NFT is virtual property.

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The Wolf of Wall Street tells why not to invest in crypto



why not to invest in crypto

Former stockbroker, widely known as the “Wolf of Wall Street” Jordan Belfort spoke about why not to invest in crypto and shared his opinion on the current state of the cryptocurrency market

He said that right now he would not approach cryptocurrencies other than bitcoin (BTC) and Ethereum (ETH).

“Other than those two coins, Bitcoin and Etherium, I literally would not touch cryptocurrency with a 10-foot pole right now,” Belfort said.

That said, Belfort believes that these cryptocurrencies should make up a very small part of his overall investment portfolio. In other words, he would not recommend investing in the cryptocurrency market.

“The best investment is to buy the S&P 500, go into Vanguard, one of the other really ultra-cheap funds or ETFs, and put more money into it,” the former broker advised.

Why is investing in crypto a bad idea?

For those who have already bought other coins, Belfort cautioned against panic selling – “the worst time to sell is usually just because things are at rock bottom, people panic and sell at the worst possible time.” Thus, the decision to sell assets should be made based on the specifics of each coin.

“You have to go back to the time you bought it and say, ‘What were my reasons why I made that purchase?” – he believes.

Back in the summer, the former stockbroker retracted his 2017 anti-cryptocurrency views, admitting that his initial predictions of BTC falling to zero were wrong. Specifically, he advised bitcoin dealers to hold their positions for at least 36 months. He is confident that cryptocurrency has a decent chance of growing over that period. Projects like Polkadot are also worth considering.

At the same time, “Wolf of Wall Street” admitted that one should only invest in projects that have already proven their usefulness and viability. He even called for sending creators of “meme” cryptocurrencies to jail because such coins have no value.

Earlier we reported that the UK Treasury Department wants to restrict crypto business in the country.

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Binance news today: exchange in talks to acquire Indonesian crypto exchange – media



CEO Binance

Major cryptocurrency exchange Binance is in talks to buy Indonesian cryptocurrency exchange Tokocrypto. According to a TechinAsia source, Tokocrypto head Pan Xue Kai will resign after the deal.

In a reaction to the rumored acquisition, Tokocrypto Vice President of Corporate Communications Rieku Handayani said exchange officials could not comment on rumors or speculation.

“Binance has been one of Tokocrypto’s investors since 2020 to co-develop the company and help build the crypto asset industry in Indonesia,” he said.

Tokocrypto focuses only on developing crypto-assets, doing everything to encourage business and industry growth.

“Tokocrypto is focused on building a sustainable business and actively continuing to grow the crypto-asset industry, which has grown significantly. The company continues to encourage healthy business and industry growth while prioritizing customer education and protection,” he added.

Last week, Binance had already bought Sakura Exchange BitCoin (SEBC), a trading platform registered in Japan, to expand its operations in that Asian country. Thanks to the deal, the company will be able to operate in the Japanese market as an entity regulated by the Japan Financial Services Agency (JFSA). This is another attempt by Binance to return to the country of the rising sun after a failed attempt to do so four years ago.

The company is also interested in establishing relations with Georgia. Binance CEO Changpeng Zhao and Georgian Prime Minister Irakli Garibashvili discussed the problems of regulation of crypto exchanges. Among the plans outlined at the meeting were are developing Georgia as a center of modern financial technology and the expansion of Binance.

Earlier we reported that hackers in North Korea are stealing cryptocurrency with the help of trading bots.

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