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If youve been around crypto for a while, youve probably heard of the Bitcoin halving, which is a highly anticipated event that happens every four years. But did you know about the Ethereum triple halving?

Ethereum triple halving is a term used to describe three factors that are providing deflationary pressure to the ETH supply. The term is inspired by the Bitcoin halving, which is a mechanism implemented in the Bitcoin protocol that cuts the issuance of new BTC coins by half roughly every four years.

In this article, well explain the Ethereum triple halving and how it can effect the prospects of ETH as a long-term investment.

Before we continue, we should make it clear that the name Ethereum triple halving is a bit deceivingwell explain why in the next section of the article. Regardless, the name has been adopted by the crypto community, and the concept it describes is very important if youre considering investing in ETH.

However, its important to keep in mind that unlike the Bitcoin halving, the Ethereum triple halving is not an actual event built into the Ethereum protocol. Instead, its a term that the Ethereum community came up with to describe how new mechanisms implemented in the Ethereum protocol are helping reduce the supply of ETH.

The concept of the Ethereum triple halving consists of three main parts:

Now, lets explore how each of these factors is impacting the ETH supply and how they could help Ethereum recover from the crypto bear market.

Ethereums migration from Proof-of-Work to Proof-of-Stake has had a very significant impact on the ETH supply. The reason for this is quite simplethe Ethereum blockchain has to issue much fewer ETH to reward stakers than the amount of ETH it had to issue to reward miners.

Cryptocurrency mining is an energy-intensive process that requires a significant upfront investment in mining hardware. Meanwhile, staking requires much less energy and is cheaper to get started with. Therefore, the network needs to issue a smaller amount of ETH to reward stakers adequately compared to the amount of ETH it had to issue to incentivize miners.

More specifically, the Ethereum protocol was issuing around 13,000 ETH per day to reward miners under the Proof-of-Work model. Under the new Proof-of-Stake model, the Ethereum protocol only has to issue about 1,600 ETH per day to reward stakers. This is a reduction of about 87.7%.

According to ETH supply tracker ultrasound.money, the Ethereum supply has decreased by 91,860 ETH from September 15, 2022 to April 18, 2023 (the time of writing). According to the aggregators estimates, the supply would have instead increased by 2.41 million ETH in the same time period if Ethereum still used Proof-of-Work.

In the following chart, you can see how the supply of ETH has changed since the transition to Proof-of-Stake (September 15, 2022). For comparison, the chart also includes the change in Bitcoins supply and the change in ETH supply if it still used Proof-of-Work (simulated).

As we can see, ETH has been slightly deflationary since the transition over to the Proof-of-Stake consensus mechanism. If this trend continues, it favors long-term ETH holders since ETH will become increasingly scarce, providing positive pressure to the coins price.

However, theres no guarantee that the ETH supply will continue to be deflationary forever, as well explain in the following section.

So, we learned that the ETH issuance rate has dropped to about 1,600 ETH per day since the Merge. But if 1,600 new ETH is being created every day, how has the supply of ETH decreased?

The answer lies in the EIP-1559 upgrade, which was activated through the London hard fork in August 2021. The upgrade reworked Ethereums transaction fee structure with a mechanism in which the base ETH gas fee paid for transactions is burned. It also gave Ethereum users the option to add a tip for validators to have their transaction prioritized.

Comparing theEthereum transaction fee mechanisms before and after EIP-1559. Image source: ConsenSys

EIP-1559 is the reason why the ETH supply has decreased despite new ETH coins being created every day to reward validators. The amount of ETH thats being burned of course depends on how much ETH users are paying for transactions on the Ethereum network. So, when demand for transactions on Ethereum grows, more ETH is burned.

So far, the amount of ETH burned through EIP-1559 has outpaced the amount of ETH thats being issued, resulting in a slight reduction in the ETH supply. If demand for transactions for Ethereum drops in the future, however, we could see ETH becoming inflationary again.

ETH staking is the third factor included in the Ethereum triple halving concept. Following the move to Proof-of-Stake, ETH holders can stake their coins to help secure the Ethereum network and earn staking rewards in exchange.

Essentially, staking Ethereum provides another incentive to passively hold ETH and lock it up in staking, which temporarily removes it from circulation (staked coins cannot be sold without being unstaked first).

This part of the Ethereum triple halving has become a bit less relevant recently. This is because the Shapella upgrade, which was enabled on April 12, 2023, introduced the ability to withdraw staked ETH coins. Between the introduction of Ethereum staking in December 2020 and the Shanghai upgrade, staked ETH could not be withdrawn, so they were truly removed from circulation.

Now that ETH holders have the option of withdrawing their staked coins, staked ETH can no longer be counted as removed from circulation. Still, the ability to stake ETH is an incentive against selling, so one could still argue that ETH staking is a positive influence on ETH as a long-term investment.

At the time of writing, Nansen data shows theres about 18.7 million staked ETH, which represents 15.6% of the ETH supply.

Interestingly enough, the number of staked ETH took a sharp uptick following the Shapella upgrade, which is an indication that the ability to unstake ETH has given investors more confidence to stake their coins.

Unlike the Bitcoin halving, the Ethereum triple halving is not an actual event, so it doesnt have a date. All the mechanisms described by the term Ethereum triple halving have already been implemented, so we can say that the Ethereum triple halving has already happened and will continue to be in effect so long as the Ethereum protocol is changed in a relevant way.

The ETH triple halving has already turned the ETH supply deflationary, although theres no guarantee that it will remain this way. Due to the burn mechanics introduced in EIP-1559, the fluctuations in the ETH supply are determined by the demand for transactions on the Ethereum network. If ETH continues to be deflationary, the Ethereum triple halving could positively impact the long-term Ethereum price prediction.

The Ethereum triple halvings impact on the ETH supply has made ETH a more attractive asset to hold over the long term, as it significantly reduced the amount of new ETH coins that are entering circulation. In fact, ETH has even turned slightly deflationary after the last part of the Ethereum triple halving, the transition to Proof-of-Stake, was implemented in September 2022.

Of course, the Ethereum triple halving is only one of the factors to consider when evaluating Ethereum as an investment. Its also important to keep up with developments on the Ethereum scalability front, which will ultimately determine whether Ethereum will be able to gain truly widespread adoption.

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What is Ethereum Triple Halving? How ETH Became Deflationary - CoinCodex

David Angliss, an analyst with Australias leading cryptocurrency investment firm,Apollo Crypto, shares the funds regular take on whats happening in the fast-changing and volatile cryptocurrency space.

The last time we chatted with Apollo Cryptos David Angliss, we concentrated on one of the major bullish sector narratives to take hold of the industry so far this year Layer 2 scaling of Ethereum, specifically the Arbitrum project and its recently airdropped ARB token.

Continuing in that vein, this article looks a bit closer at probably the most hyped protocol of all L2s yet to release a token. And thats zkSync.

Angliss was first, however, keen to chat about the Ethereum blockchains most recent upgrades, Shanghai and Capella, collectively known as Shapella.

The main thing to know about this upgrade, as weve mentioned elsewhere on Coinhead recently, is that Shapella enables those whove been staking ETH (since the protocol merged from proof-of-work to proof-of-stake last year) to withdraw their staked ETH for the first time.

This, notes Angliss, will affect approximately 18+ million ETH (about 15% of all ETH in circulation), worth tens of billions of dollars.

So, why is this not completely bearish? Why, if all this ETH can now potentially flood back into the market, have we instead seen a rise in Ethereums price since this upgrade?

To answer that, Angliss explained that the release of ETH is staggered in such a way to completely avoid a flood of ETH onto the open market. The staked ETH is being made available to withdraw at a rate of just 0.4% of the total staked ETH per day.

Angliss alsopointed us to an article entitled Shapellas Show by the well-known crypto analyst Arthur Hayes. Hayes is a candid and often insightful market observer and billionaire investor, who is also something of a controversial figure after being sentenced in May last year to two years probation with six months home detention after pleading guilty to a lack of anti-money laundering compliance at his former exchange, BitMEX.

Hayes noted that the Shapella upgrade is a significant turning point for the Ethereum staking landscape, and is expected to drive the adoption of more decentralized and non-custodial solutions in the ecosystem.

One of the byproducts, however, notes Hayes and reiterates the Apollo analyst is that the new upgrade presents a challenge to existing custodial staking business models, such as Lido Finance and centralised services like Coinbase, Kraken, and Binance, as users now have more options and may seek non-custodial alternatives.

Thats not to say, notes Angliss, that the liquid-staking protocols weve discussed in this column before no longer have a use case or strong thesis. The landscapes definitely changed for them, but the Shapella upgrade is still a net positive for liquid-staking protocols, he says.

Moving on, lets talk about a particular protocol, and one Angliss and Apollo are extremely bullish on zkSync.

Weve discussed this one briefly before but to just to recap, zkSync is one of several new layer 2 scaling solutions to emerge for the Ethereum blockchain, and its a developing DeFi ecosystem in its own right.

Angliss and Apollos interest in it centres around respect for its technology and potential network effect. Angliss says that zkSync is the key protocol utilising the most effective scaling technology ZK rollups. (Arbitrum and Optimism use different cryptographic tech called optimistic rollups).

ZK rollups rely on mathematics to validate the rollup, Angliss has explained to us in a previous article, while Optimistic rollups rely on the observers of the layer 1 contracts to invalidate incorrect transactions.

The upshot is that Optimistic rollups are slightly slower and more expensive than zkSync.

The protocol does not have a token yet. More on that in a sec, but whats exciting right now, says the analyst, is that its going from strength to strength in terms of usage and TVL (total value locked from participants on the network).

In fact, as Angliss points out, the zkSync TVL has grown impressively in a short space of time from US$27 million to more than US$119 million about 4x in just a few weeks.

The zkSync protocol recently launched its completely EVM-compatible (Ethereum-chain compatible) update, which is known as zkSync Era.

And within that protocol, there still lies an opportunity to engage and potentially obtain an airdrop bounty of future tokens, bearing in mind that most who managed to get the ARB drop ended up with at least 625 tokens, which is worth about US$1,000 at the time of writing.

Also, the leading DEX (decentralised exchange) in the zkSync ecosytem, SyncSwap, has announced it will have a token, too, and will reward users of its exchange through a loyalty program.

And finally, Angliss pointed us to what he describes as a degen strategy for maximising funds and rewards within the zkSync ecosystem.

Obviously this comes with the caveat of extreme caution needed when engaging in degen DeFi strategies, he explains. But essentially what you can do is deposit ETH or USDC on a zkSync app called Nexon Finance and borrow against that. You can then essentially keep looping to leverage your position.

Bearing in mind, of course, there needs to be a good deal of liquidity flowing through this borrowing and lending system for it to work as intended.

So, broadly speaking, does Angliss believe engaging and participating in the zkSync network, using strategies such as this and attempting to get the ecosystems rewards and airdrops will be well worth spending time on?

Put it this way. Look at how well protocols like GMX (GMX) and Gains Network (GNS) have done. You have a chance right now to interact with a protocol in its infancy that could well achieve that level of success or greater, which is looking to reward early users and adopters.

Final note: Twitter is currently innundated with airdrop hunters offering advice on how to farm upcoming airdrops, including the likes of zkSync, LayerZero and others. For some solid tips, we recommend checking out these two accounts: @milesdeutscher and @OlimpioCrypto.

Also, CoinGecko wrote a good, simple-to-follow piece on How to enhance your eligibility for the potential zkSync airdrop.

Originally posted here:

Apollos Alpha: Talking Shapella, Ethereum, the hyped zkSync protocol and potential token rewards - Stockhead

The Ethereum Development Conference is a non-profit global conference event that aims to bring together tech specialists to provide exclusive insights into Ethereum ecosystem development and blockchain possibilities. The 2023 edition will be held in Podgorica, Montenegro, from May 19 to 23.

The upcoming Ethereum Development Conference 2023, or EDCON, will be crucial as it is being held shortly after the second largest cryptos Shapella upgrade and its inventor Vitalik Buterin, who is expected to make his first public appearance since speaking at the EthDenver conference on February 12. At last years EDCON, Buterin delivered his insights into Ethereums priorities following The Merge.

The five-day event, designed to foster innovation and growth of the Ethereum ecosystem, will also feature prominent blockchain developers and speakers in the crypto space. The crypto community is awaiting new potential developments that will be unveiled at EDCON 2023.

What is EDCON 2023?

The Ethereum Development Conference is a non-profit global conference event that aims to bring together tech specialists to provide exclusive insights into Ethereum ecosystem development and blockchain possibilities. The 2023 edition will be held in Podgorica, Montenegro, from May 19 to 23.

The panelists will feature former Coinbase CTO Balaji Srinivasan, Polygon zkEVM technical lead Jordi Bayline, Gitcoin co-founder Scott Moore, StarkWare co-founder Eli Ben-Sasson, applied scientist at Microsoft Research Shrey Jain, and co-founder of Matter Labs Alex Gluchowski, among many other professionals.

As in previous years, discussions will focus on the most recent developments and innovations in the Ethereum ecosystem and how they may be used to address diverse commercial and social issues. Topics of discussion during last years event in San Francisco included Ethereums transition to a proof-of-stake network following The Merge, how to lower transaction fees on rollups, censorship resistance, programmable cryptography, and much more, culminating in an AMA (ask me anything) worldwide session.

EDCON has drawn over 10,000 attendees and 2,000 developers while displaying over 450 projects and attracting a 300,000-strong online community.

The event, which will commence on May 19 with the community event day followed by the Super Demo competition on May 20, will feature technical workshops, speeches, and panel discussions on various topics, including blockchain regulation, the state of the network, decentralised governance, layer 2 solutions, and decentralised society, among other topics.

The competition allows Ethereum projects and startups to share their innovative and cutting-edge technology with the crypto community. Under Super Demo, teams will have 15 minutes to present their projects to a panel of judges and the top three winning teams will get to do the same at the main conference as well. The competition will be followed by an ETH Quorum on May 21 and the main conference on May 22 and 23.

Conclusion

Recent news stories have focused on Do Kwons arrest, high-profile bankruptcy filings in the sector, regulatory scrutiny, and Ethereum's Shapella upgrade, among others. Although it is unclear whether or not EDCON 2023 will address all of these concerns, one may anticipate that this year's event will be noteworthy given the recent flurry of advances in the crypto world.

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Ethereum Development Conference 2023: Everything you need to know - CNBCTV18

Ever since the Ukraine invasion, Russia has been facing tough sanctions from the West and thus, it is now preparing a draft law that allows the use of digital assets for international settlements. Besides, this could also be part of Russias plans to reduce its dependence on the use of US Dollars as allies like China have also joined the race.

As per the latest report, the Central Bank of Russia (CBR) is weighing the possibility of using digital currency for settlements in international trade. During her recent meeting with the lawmakers in the State Duma, the lower house of the Russian parliament, CBR Governor Elvira Nabiullina said that the central bank is actively working with Turkey in establishing new payment systems for international settlements.

During the event, the central bank Governor also said that the regulator would be using digital assets for settlements with foreign countries. These operations will be feasible within the framework of the experiment. However, Governor Elvira Nabiullin said that the central bank wont allow the use of crypto payments within the state and shall be strictly limited to external payments only.

Thus, the Central Bank of Russia might consider creating a special institution that will engage with mining and crypto transfers to foreign structures.

As we know that amid Russias invasion of Ukraine, the West has actioned some of Russias largest financial institutions, including the central bank, as well as several other players in major sectors such as energy, oil, and gas.

Furthermore, the sanctions have also choked up other payment methods in and out of Russia including the countrys foreign reserves. However, as Russia is planning to pivot to the use of digital assets for international trade, will it really help them bypass the sanctions imposed on them?

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Some of the top financial institutions and governments across the world believe that in a G20 country like Russia, it wont be a cakewalk for Russia to shift from fiat to crypto. Before Russias invasion of Ukraine, nearly 80% of its daily foreign exchange transactions and half of the international trade happened in USD. Todd Conklin, a senior official from the Us Treasury said:

Russia is a G20, fiat-based economy, and now the ruble is at a record lowRussia has not focused on building the rails needed to support crypto or DeFi [decentralized finance]innovation. You cant flip a switch overnight and run a G20 economy on cryptocurrency.

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The official also argued that theres not enough liquidity in the crypto market to address the needs of a G20 economy. However, ever since the war started, several of pro-Russia organizations have raised millions of dollars in digital assets.

On the other hand, global regulators have been targeting crypto exchanges linked to Russia. Thus, they are also after choking Russias use of digital assets.

Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.

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BREAKING: Russia to allow Bitcoin, Ethereum and crypto for ... - Crypto News Flash

Major changes are underway in the world of decentralized finance, and TMS Network (TMSN) is leading the way, ushering in a new age of trading for crypto investors. This exciting platform is transforming the way people trade, and its presale event has been a smash success so far, raising in excess of $4 million. Read on to see how TMS Network (TMSN) is surging ahead of rivals like Chainlink (LINK) and Aave (AAVE).

TMS Network (TMSN) is changing the game for traders everywhere, and if youre not yet familiar with this platform, heres a quick primer: TMS Network (TMSN) is a trading terminal that allows users to connect a crypto wallet and invest in various derivatives using their crypto funds. TMS Network (TMSN) is secure, advanced, user-friendly, and comes with a whole host of handy features, like on-chain analytics and trading signals.

Clearly, TMS Network (TMSN) has a lot of things going for it right now, and its easy to see why so many people are talking about TMS Network (TMSN) its being hailed as the next big thing for the trading world. Fittingly, the TMS Network (TMSN) presale, which is still ongoing, has been a big hit, with 2240% of growth in revenue and more than $4 million raised in investment funding, so far.

One of the many projects that have been left reeling by TMS Networks (TMSN) success is Chainlink (LINK). For the uninitiated, Chainlink (LINK) is a platform that is designed to provide a link between blockchain users and non-blockchain users, letting businesses without any blockchain technology to still connect and interact with blockchain-based partners and platforms.

The idea and technology behind Chainlink (LINK) is sound, and Chainlink (LINK) has done well over the years in terms of price and investment. 2023 hasnt exactly been a bad year for Chainlink (LINK), either, as its price has steadily risen from around $5.56 at the start of the year to $7.76 at the time of writing. Its not the same level of price increase as TMS Network (TMSN), of course, but Chainlink (LINK) is still doing pretty well and should rise further as the year goes on.

Like Chainlink (LINK), Aave (AAVE) has had a respectable 2023, but cant compete with TMS Networks (TMSN) stunning surge. Aave (AAVE) is a decentralized crypto platform which allows users to borrow or lend cryptocurrencies between themselves through smart contracts. Aave (AAVE) has great automation technology and clever policies in place to protect user funds, and Aave (AAVE) is one of the top crypto projects for overcollateralized loans.

Users can invest in Aave (AAVE) tokens to earn interest on the platform, and the price of those tokens has seen some interesting changes. Early on in its lifecycle, Aave (AAVE) saw incredible price rises, all the way up to a peak of $621 back in May of 2021. The price of Aave (AAVE) then steadily dropped through 2022, with a couple of small surges. In 2023, perhaps due to increased competition and lack of development, the price of Aave (AAVE) has stagnated somewhat. It sits at around $83 at the time of writing, which is better than where it began the year, but still far from its ATH.

While platforms like Chainlink (LINK) and Aave (AAVE) can still rise later in the year, these projects simply cant compete with the staggering rise of TMS Network (TMSN), which is setting whole new standards for growth and investment. If youre looking for a smart investment opportunity in 2023, it might be time to take a look at the TMS Network (TMSN) second presale.

For more information, check out the links below:

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

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Ethereum Rivals Chainlink (LINK) And Aave (AAVE) Crushed by ... - Cryptopolitan