We have now entered the final stages for the long-awaited Ethereum merger. With the transition from the PoW consensus to the PoS consensus, the era of mining in Ethereum will end. While it is expected to take place in August after the successful results of the tests and developments, the merge date, which is said to be delayed to September-October, was proposed by Tim Beiko as September 19 in a teleconference between ETH developers. For the Ethereum network, which will reduce energy consumption by up to 99% with Merge, this development becomes even more important in this period when the energy consumption and emission problems of crypto assets are on the agenda all over the world.
Central African Republic to Hold Bitcoin Reserves
The Central African Republic, which has made Bitcoin the official currency, then announced the local cryptocurrency Sango and announced the acceleration of the transition to digital assets, will now have Bitcoin as a reserve asset. The country is the first country in Africa to officially accept Bitcoin, and it is among the leading countries in the world. Sango will also be released on July 25.
PoW-PoS Assessment from the European Central Bank
The European Central Bank, which has shown a negative approach to crypto assets, has published a report stating that they are worried about the carbon footprint and energy consumption created by crypto assets working with the Proof of Work consensus and that a restriction or ban on mining may be imposed by 2025. The report, which also evaluated the PoS system, stated that crypto assets in the PoS consensus only require enough energy consumption to consume enough energy for a US town of 2,000 households. In the report, the assets working in the PoW consensus were compared to cars running on fossil fuels, while PoS assets were compared to electric vehicles. In addition, the report said that despite Ethereum's transition to PoS, this transition seems unlikely for Bitcoin.
Yuga Labs Opens Otherside
Yuga Labs, the owner of projects such as Bored Ape Metaverse and ApeCoin, announced the metaverse gaming platform called Otherside. For now, the platform will only be open to those who own land on the Otherside. Before it became fully open for participation, 4300 players were sent invitations and an online trial tour was organized.
Burning Continues at Shiba
A Twitter account sharing Shiba INU burning data tweeted on Saturday, July 16, that 140 million Shibas were sent to dead wallets (burned). Shiba investors working to restrict the supply called scarce in Shiba stated that a total of 410,372,927,333,423 Shibas were burned. It is 88% below the Shiba ATH (All Time High) level.
Surprising Statement from Ripple CEO
Ripple CEO Brad Garlinghouse made statements about Ripple's ongoing court case with the SEC. Garlinghouse stated that they have spent close to $ 100 million in the court process against the SEC, adding that they have done this not only for Ripple, but for the entire industry. Although there is still no significant progress in the court process, there are small positive developments.
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