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Lido, the popular liquid staking platform, is currently conducting a vote for the implementation of its second iteration on the Ethereum blockchain.

This move is a significant moment for participants in the decentralized finance (DeFi) community, as it aims to enhance decentralization and provide improved on and off ramps into Ethereums staking ecosystem.

Lidos Twitter account has referred to this version, known as v2, as the most important upgrade to date since its launch in December 2020. Ethereum holds a crucial position for Lido as its primary and largest market for liquid staking tokens.

The v2 upgrade on Ethereum focuses on two key aspects: ETH staking withdrawals and the introduction of a Staking Router. The latter is designed to encourage greater participation from a diverse range of node operators.

Lido currently stands as the leading liquid staking platform within the DeFi space, with a total value locked across the Ethereum ecosystem amounting to $11.77 billion, according to DefiLlama.

The integration of withdrawals and the proposed Staking Router will contribute to decentralizing the network further, promoting a healthier Lido protocol, and fulfilling the long-awaited capability of staking and unstaking (withdrawal) at will.

This reinforces the significance of stETH as a highly composable and valuable asset on the Ethereum platform.

The voting process will conclude on May 15, and if approved, Lidos smart contracts will undergo an upgrade, marking the official launch of v2.

At the time of writing, all participating LDO token holders have voted in favor of deploying the upgrade. The governance token for Lido, LDO, has experienced a 5.37% surge in the past 24 hours, reaching a value of $1.88, as reported by CoinMarketCap.

Lido DAO governance had been in the process of deliberating whether to restore funds that were unintentionally directed to its execution layer rewards vault as a result of a SushiSwap attack that caused a breach of $3.3 million last month.

The majority of the funds that were lost can be attributed to Michael Patryn, also known as Omar Dhanani, who is suspected of being a repeated scammer and was involved with the now-defunct QuadrigaCX. While more than 885 ether has been successfully recovered, approximately 39.8 ETH was rerouted to the Lido DAO treasury and remains unrecovered at this time.

After the submission of a proposal to return the funds, the Lido team conducted a snapshot vote. The vote revealed that an immense majority of the Lido community (99.92%) decided against taking any action and opted not to return the 39.8 ETH to Sifu.

During a discussion, Misha Putiatin, the CEO of Statemind, expressed concerns about potential consequences for the protocol if the proposal were approved. He highlighted the lack of a clear framework, explaining that accepting hack reimbursement proposals could significantly burden Lido DAO.

Being responsible for determining the legality of activities within other protocols goes beyond its usual capacity and could expose Lido DAO to unforeseen legal risks.

Recently, there has been a notable change in the voting outcome observed within Lido DAOs governance. Overnight, the vote regarding the return of funds that were unintentionally directed to its execution layer rewards vault during a SushiSwap attack has experienced a complete reversal.

Consequently, the Lido DAO governance has made the decision to return the funds, marking a departure from their prior stance. This shift signifies a fresh consensus within the Lido community concerning the retrieval of the breached funds.

The recent bear market has made its presence felt once again, leaving uncertainty regarding its duration. Since the beginning of March 2023, the cryptocurrency market has experienced a significant decline, causing anxiety among investors about the future of digital currencies.

Lido DAO too has been severely affected by the behavior of the market, although it did manage to make a slight rebound recently. While the upgrade may have helped push the price temporarily, investors remain concerned about the future trajectory of the token. We have a fair prediction of our own and believe it could be approaching the $2 level.

Lido DAO (LDO), a decentralized autonomous organization focused on building the staking infrastructure for Ethereum 2.0, has been heavily impacted by the prevailing market volatility. Over the past few days, Lido DAO (LDO) has experienced significant lows, leading to distress among its investors.

Currently priced at $1.88, with a trading volume of $80 million, Lido DAO (LDO) is expected to trade within a range of $2.31 to $2.68 before the start of Q4 2023, as investors continue to add the token to their portfolios amidst the ongoing price fluctuations.

With that being said, the target could very well distort given the volatile nature of the market. Its best for investors to do their own research before investing in any token.

We recommend that investors put their efforts into new cryptocurrencies instead. These presale cryptos have stronger fundamentals and allow investors to make profits before the assets face the volatility of live trading.

AiDoge - New Meme to Earn Crypto

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Lido Community Decides on Ethereum V2 Upgrade for Enhanced ... - Inside Bitcoins

Blockchain technology has the potential to revolutionize how we interact and trust each other by providing a decentralized and transparent platform for secure transactions. In the next decade, the blockchain technology market is expected to skyrocket, growing at an unprecedented CAGR of 87.1% from 2022 to 2030 and reaching a staggering market size of USD 1,593.8 billion. This exponential growth reflects the vast potential of this innovative technology to revolutionize industries and transform global economies.

However, blockchains disruptive nature also raises several ethical and social implications that require responsible and sustainable use.

This piece endeavors to illuminate the intricate and diverse ethical and social impacts of blockchain technology and its immense potential to positively revolutionize our society. By comprehending these effects and embracing a judicious and sustainable application of blockchain technology, we can leverage its advantages to establish a society that is more comprehensive, open, and just.

Blockchain is a revolutionary innovation that securely stores and shares data in a decentralized digital ledger. It records transactions transparently and securely. Heres how it works:

Blockchain can transform various industries with its decentralized, secure nature that builds trust and transparency in transactions. Its potential continues to evolve, leading to more innovative use cases.

Blockchain technology has been hailed as a transformative force in industries ranging from finance to healthcare. However, with any new technology comes ethical considerations that must be considered.

This is a significant ethical implication of blockchain technology. Though its often presented as a private way of transaction, every transaction is visible to the network participants. This creates questions about personal information control and potential misuse by corporations or governments.

Blockchains high computing power requirements can widen existing inequalities. Its only accessible to those who can afford the necessary equipment and energy costs, leaving individuals and communities without access behind and creating a digital divide.

Decentralized blockchain networks need more central authority for governance, posing an ethical dilemma. Such technology could be used for nefarious purposes, such as money laundering or terrorism financing.

Blockchain technology has been hailed as one of the most disruptive innovations of our time. While it has the potential to revolutionize various industries and bring about economic growth, it also has significant social implications.

Certainly, the capacity of blockchain technology to promote social and financial inclusion remains unparalleled and is poised to create a revolutionary impact in this domain. Through the deployment of blockchain-based solutions, individuals who are difficulties accessing conventional financial institutions can now participate in the global economy with ease.

Moreover, blockchain technology can facilitate the eradication of traditional financial services barriers and considerably reduce costs by enabling borderless payment systems, which operate more efficiently and expeditiously than the current systems. The implementation of blockchain technology has the potential to reduce banking infrastructure costs by as much as 30 percent.

Blockchain technology also enables transparency and accountability in various industries. By using a distributed ledger, stakeholders can track the entire lifecycle of a product, from its origin to its final destination, ensuring that it is ethically sourced and produced. This has implications for the fashion and food industries, where ethical concerns around labor and environmental impact are increasingly salient.

Another social implication of blockchain technology is its potential to decentralize power structures. Traditional institutions such as governments and banks have historically monopolized power over institutions. But blockchain technology enables individuals to engage in direct, peer-to-peer transactions without intermediaries.

The ability to decentralize power has implications for democracy, governance, and social movements, as individuals can engage in collective action without relying on centralized institutions.

The impact of blockchain technology on the employment and economic sphere constitutes yet another critical social implication. While this technology may cause job losses in certain sectors, it simultaneously provides a gateway to a plethora of new job opportunities in various domains, including but not limited to blockchain development, cybersecurity, and data analytics.

In addition, the advent of blockchain technology has sparked the emergence of novel economic models, exemplified by the likes of decentralized autonomous organizations (DAOs) and token economies. These avant-garde models hold immense potential to facilitate greater financial inclusion, democratize investment opportunities, and pave the way for alternative funding mechanisms.

Although blockchain technology comes with complex ethical and social implications, it has the potential to transform society by improving transparency, security, and accountability, promoting social inclusion and decentralization.

However, we must proceed cautiously and consider privacy, ownership, and accessibility. The evolution of blockchain technology promises to be fascinating and could shape the future of industries and institutions.

Featured Image Credit: Provided by the Author; Pexels; Thank you!

Experienced PR Strategist, Content Writer, and Tech Enthusiast. Published in Techopedia, Infosecurity magazine, HackerNoon, Dzone and more.Ready to work with me to grow your brand's online visibility? Get in touch via: Chukwubemicheal@gmail.com

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Ethical and Social Implications of Blockchain Technology and Its ... - ReadWrite

Digital currencies such as Bitcoin are not without costs to society, and the environmental impact of their production is a major concern. For Bitcoin to justify its existence in the face of criticism over its carbon footprint, it must fulfil its intended role as a functioning currency. Critics argue that Bitcoins value is largely speculative, with little practical application beyond serving as a store of value. The recent decision by China, which previously accounted for 75% of global Bitcoin hashing power, to halt cryptocurrency mining has highlighted the vulnerability of the industry and the need for more sustainable solutions. Further, you can visit this trading software

To safeguard financial stability and integrity in the country, the Chinese government has implemented a new set of regulatory measures aimed at both financial institutions and mining operations. Prime Minister Liu has made it clear that the Chinese authorities will be taking a tough stance against bitcoin mining and trading activities. As a result of the recent crackdown, Chinese mining operations, which were responsible for more than 75% of the global Bitcoin hash rate, have been hit hard.

As reported by The Times, miners in the Sichuan region rely heavily on renewable energy sources during the wet season to power their operations. This is driven by the desire to maximize profits, as energy costs can have a significant impact on their bottom line. However, during the dry season, many miners are forced to resort back to coal energy, which is less expensive but also more carbon-intensive. Chinas increasing focus on reducing its carbon footprint and becoming carbon neutral by 2060 is driving its mining rhetoric, and many in the industry are now seeking more sustainable solutions to power their operations year-round.

Chinese blockchain journalist Wu Blockchain recently took to Twitter to share insights into the implications of Chinas mining ban on the cryptocurrency industry. As a result of the ban, Bitcoin mining is likely to revert to the levels seen in 2014-2015, while large-scale mining companies are already exploring alternative opportunities in Europe and the US. In a further blow to the industry, Huobi, the second-largest crypto exchange by volume, has also announced its decision to suspend crypto mining activities in China.

Bitcoin mining activities in Xinjiang province were hit by an explosion at a mining facility in April 2021, causing a sharp drop in the network hash rate of almost 30%. The incident once again highlighted concerns around the concentration of hash rate within the cryptocurrency industry. It also raised questions about the environmental impact of Bitcoin mining, with the industrys energy usage now on par with that of entire countries like Argentina and Sweden.

The incident has spurred renewed discussions around the need for greater decentralization within the industry, as well as the exploration of alternative, more sustainable energy sources to power mining activities. Despite the absence of any explicit reference to Chinas hardline stance on crypto mining, the industry is undergoing a significant shift. Mining activities outside of China, particularly in the US, have surged in popularity, with companies such as Foundry looking to challenge Chinas mining dominance.

At the same time, institutional investors have been pouring money into mining equipment, with data showing that they had invested more than $500 million before Elon Musks recent criticism of Bitcoins carbon footprint. The industrys move away from China is being driven by a desire for greater decentralization, as well as concerns about the environmental impact of mining. As the industry continues to evolve, it remains to be seen how these factors will shape the future of crypto mining.

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The Changing Landscape of Bitcoin Mining and Its Implications for Decentralization in the Cryptocurrency World - Woman's Era

Decentralization is the core principle behind all things crypto, and when its removed, theres not much left of the concept! Amazingly, this is exactly what the recently announced Euro stablecoin is doing, which has led to huge criticism. Thankfully, this has put the importance of decentralization into the limelight, with 100% decentralized tokens such as TMS Network (TMSN) capitalizing on this.

However, not all fully-decentralized tokens have been so lucky in fact, tokens such as Litecoin (LTC) and XRP (XRP) have been lagging behind TMS Network (TMSN) significantly. So, why is this, and what is TMS Network (TMSN) doing differently? Read on to find out!

Litecoin (LTC) is a level-2 crypto token for the Bitcoin (BTC) blockchain, meaning that any Litecoin (LTC) transactions directly augment the Bitcoin (BTC) network. Bitcoin (BTC) has long since been the most valuable yet least sustainable crypto token on the market, and Litecoin (LTC) is doing everything it can to change this.

Bitcoin (BTC) is likely to remain the crypto supreme leader for years to come, so Litecoins (LTC) market sentiment should be bullish overall. However, with institutes, governments, and businesses adopting Bitcoin (BTC) rapidly, many investors believe that the token is not as decentralized as it once was, and this is causing Litecoin (LTC) to lag behind.

XRP (XRP) is another crypto token with the mission to make blockchain networks more efficient. However, unlike Litecoin (LTC) which is based on a fork of the Bitcoin (BTC) network, XRP (XRP) leverages its own in-house consensus protocol. Many people believe that XRP (XRP) is a PoS (Proof of Stake) token, but this is not true, despite it performing at similarly high levels of efficiency.

Having its own consensus protocol may sound bullish for XRP (XRP), but its actually quite problematic. Most tokens are beginning to leverage PoS protocols and forks to optimize blockchain, and this makes XRP (XRP)s protocol difficult to integrate into other networks. This issue of interoperability is significant, and if XRP (XRP) wants to snap out of its valuation lag, it will have to provide more interconnected means for on-platform interoperability.

TMS Network (TMSN) is a cryptocurrency that is built on a foundation of decentralization. The TMS Network (TMSN) is 100% governed by its investors, who can vote on token events, new features, and other token actions. TMS Network (TMSN) has integrated this philosophy ever since the pre-sale launched, which has made it a highly bullish contender in the face of centralized tokens such as the EU stablecoin.

Investors in the TMS Network (TMSN) can enjoy far more benefits than decentralization though the platform facilitates the trading of a huge range of asset types, offers lucrative volume-based trading commissions, and doesnt even require registration to get started. Along with low fees, low latency, and an impressive arsenal of trading tools, its no surprise that TMS Network (TMSN) has blown up 1700% since its pre-sale launch!

The crypto industry would not be where it is today without the core principle of decentralization, so its understandable that the EU stablecoin is sparking outrage. Thankfully, this is bullish for truly decentralized tokens such as TMS Network (TMSN), although its certainly not an all-in-one fix for the problems that decentralized tokens such as Litecoin (LTC) and XRP (XRP) face.

So, are you going to be a part of the decentralized investment revolution, or are you going to continue to let your finances be governed by massive financial institutions? If you chose the first option, youre a smart cookie just dont wait around for too long, because the low TMS Network (TMSN) valuation of $0.088 wont last for much longer. Dont miss out!

Presale: https://presale.tmsnetwork.io

Whitepaper: https://tmsnetwork.io/whitepaper.pdf

Website: https://tmsnetwork.io

Telegram: https://t.me/tmsnetworkio

Discord: https://discord.gg/njA95e7au6

Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosurehere.

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Litecoin (LTC) and XRP (XRP) Lag Behind: TMS Network (TMSN ... - The VR Soldier

The cryptocurrency market, with Bitcoin as the leading player, has seen remarkable growth in recent years. From its humble beginnings as a peer-to-peer electronic cash system, Bitcoin has evolved into a recognized asset class that has gained attention from investors, institutions and the mainstream media. As more people explore different forms of wealth creation, Bitcoin has become a potential option to consider as part of a diversified investment portfolio.

This article will examine five reasons why, if you buy Bitcoin with a debit card, it could be beneficial and how it could potentially impact your financial future.

Why investing in Bitcoin can be a game-changer

Let's take a closer look at five reasons Bitcoin has gained attention and the potential benefits of this cryptocurrency:

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Decentralization and financial freedom

Bitcoin operates on a peer-to-peer network that is not controlled by any central authority, such as a government or a central bank. This decentralization gives Bitcoin users the ability to transact and store value without the need for intermediaries, such as banks or payment processors.

Decentralization brings the potential for financial freedom, making it an attractive option for those living in countries with unstable economies or those facing limitations on traditional financial systems. Bitcoin has the potential to serve as a hedge against financial instability and provide a means for individuals to safeguard their wealth.

Limited supply and inflation hedge

The second reason to consider investing in Bitcoin is its limited supply. Unlike traditional currencies, which can be printed by central banks at will, Bitcoin has a fixed supply limit of 21 million coins. This means that there will never be more than 21 million Bitcoins in existence, creating scarcity and potential for value appreciation over time.

As a result, Bitcoin has been considered a potential hedge against inflation. In times of economic uncertainty or when traditional currencies face the risk of devaluation, Bitcoin's limited supply can act as a safeguard against inflation, making it a potential option for investors looking to protect their wealth from the erosion of purchasing power.

Growing adoption and mainstream recognition

Bitcoin has gained significant adoption in recent years, with major corporations, financial institutions and mainstream investors recognizing its potential as a legitimate investment option. For example, many high-level companies have invested billions of dollars in Bitcoin, while many major companies have begun accepting Bitcoin as a form of payment.

This growing adoption and mainstream recognition can potentially drive up the demand and price appreciation of Bitcoin. If more institutions and companies embrace Bitcoin, it could solidify its position as a viable investment asset class and increase its acceptance in the mainstream financial ecosystem.

Technological innovation and potential for disruption

Beyond its potential as a store of value and medium of exchange, the underlying technology of Bitcoin, blockchain (a distributed and transparent ledger), has the potential to revolutionize various industries beyond cryptocurrency.

Blockchain technology has the potential to revolutionize sectors such as finance, real estate, supply chain management and more. For example, blockchain can streamline cross-border payments, reduce transaction costs, enhance transparency and eliminate intermediaries. Bitcoin could play a crucial role as blockchain technology continues to evolve.

Conclusion

Investing in Bitcoin is a personal decision that should be based on research, risk tolerance and financial goals. Its essential to be aware of the risks associated with investing in Bitcoin due to its potentially volatile nature, which can result in significant fluctuations in value.

However, Bitcoins features, such as decentralization, limited supply, growing adoption, technological innovation and potential for high returns, are worth considering.

This content is for informational purposes only and should not be construed as financial advice.

Lee Enterprises newsroom and editorial were not involved in the creation of this content.

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Bitcoin insights: Key factors to consider before investing in the ... - Roanoke Times