Banking giant Citigroup believes the upgrade could have several implications for the blockchain. CoinDesk reported on Aug. 5 that once the upgrade is launched, it could lead to lower energy density, leaving Ethereum with a deflationary asset and a more scalable future. Also, according to Citi, the transition to Proof of Stake (PoS) could reduce Ethereum's overall issuance by 4.2% per year. The research department states that when Ethereum becomes a deflationary asset, the cryptocurrency will stand out more as a store of value.
Voyager Plans to Reopen Withdrawals Next Week
Voyager announced that it has received court approval that will allow customers to reopen their withdrawals. The company says it plans to reopen withdrawals on Aug. 11 with a daily limit of $100,000. Voyager had suspended withdrawals and other account activities on July 1 before filing for bankruptcy on July 5.
ApeCoin BitPay Collaboration
Cryptocurrency payment processor BitPay has announced that it supports the ApeCoin currency. After ApeCoin's collaboration with Gucci, BitPay announced that they will accept APE in partnership with the Italian fashion brand. ApeCoin has thus announced two very critical collaborations in the last 2 weeks.
Coca Distributes a New Collection Through Cola-Polygon
According to the announcement made on the Polygon Studios Twitter account, on World Friendship Day, which is celebrated in Coca Cola USA, a collection was distributed through Polygon to fans and customers who were with the company throughout the brand's metaverse process.
Morgan Stanley's Job Ad Shows Sweeping Crypto Plans
Financial giant Morgan Stanley is looking for a product development manager who focuses on creating a wide range of new crypto products across the lines of business, according to the firm's LinkedIn job posting.
Brazil's Central Bank Governor Describes Bitcoin as a Financial Innovation
Brazilian Central Bank Governor Fabio Araujo praised the technological features of Bitcoin (BTC), describing the asset as a financial innovation that led to new critical products. For example, the central banks of most countries have triggered digital currencies (CBDCs) to start researching, as well as citing Bitcoin's role in sparking the Web3 concept.
Chainlink Staking: A New Chapter in the LINK Economy
Chainlink is a decentralized oracle network known for providing price data to power DeFi applications. The network plans to launch a token staking and node delegation system. The updates could help make Chainlink more secure and decentralized, potentially rekindling interest in the project.
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