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Dash enters the Ethereum DeFi space!

Dash enters the Ethereum DeFi space!

Payment-focused crypto project Dash (DASH) officially bridges Ethereum DeFi.

Dash was able to enter decentralized finance thanks to the partnership with DeFi gateway protocol StakeHound, according to the announcement made Wednesday. Dash owners will be able to interact with DeFi protocols on the Ethereum blockchain as part of this partnership.

Dash holders will be able to stake their tokens and participate in yield farming (trading by leasing cryptocurrencies) while taking advantage of the credit markets and arbitrage facilities within Ethereum DeFi.

About: What is Staking? Is Staking Profitable?

ERC-20 wrapped stDASH token holders, on the other hand, will allegedly be able to provide liquidity on automated market maker platforms such as Uniswap and receive some share from the transaction fees in this process.

To facilitate the process of bridging Ethereum, StakeHound will offer wrapped stDASH tokens, a one-to-one representation of Dash accumulators’ balances. Dash announced in the announcement that the original DASH tokens will be stored by StakeHound.

In this process, StakeHound will also stake the DASH deposited by users and distribute additional stDASH rewards.

According to a survey by crypto broker Voyager Digital, individual investors in the US are …


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Ethereum’s Buterin Highlights Layer-Two Rollups as Potential Scaling Solution – Altcoins Bitcoin News

Ethereum’s Buterin Highlights Layer-Two Rollups as Potential Scaling Solution – Altcoins Bitcoin News

As questions circle about the network’s capacities following surging transaction costs and accelerating activity in the decentralized finance (defi) arena, Ethereum’s founder Vitalik Buterin opines that layer-2 solutions could help the network scale by a factor of 100x in mere months to meet growing demand.

Ethereum has passed many milestones over the last 12-months and can be credited as the protocol responsible for popularizing the defi revolution thanks to its smart contract capabilities. Yet, as demand for the network’s service concurrently spiked, it created new headaches for users as surging gas costs made it much more expensive to transact.

These developments have coincided with the ongoing ETH2 rollout, which effectively upgrades the original infrastructure to support better performance through improved scalability, increased efficiency, and higher transaction throughput. However, recent activity has clogged network performance, sparking debates about the best methods to fix these problems.

In a recent interview on the Tim Ferriss Show with Naval Ravikant, Vitalik Buterin, Ethereum’s 27-year old cofounder, discussed how one answer to this congestion lies in layer-two scaling solutions that could be implemented in a matter of months. According to Buterin, rollups such as ZKS might play a key role in reducing network costs and amplifying performance.

Unlike a traditional Ethereum transaction, which would require the network to confirm the transaction, layer-two rollups effectively allow a sidechain to record and validate all transactions before “rolling them up” into a single transaction. That single transaction then needs to be approved by the mainchain, in this case, Ethereum.

In stark contrast to existing confirmation times, rollups can provide instant confirmation, circumventing the congestion that has plagued the Ethereum network for months. Buterin believes that this layer-two scaling solution can deliver 100-fold scalability within months. When combined with layer-one scaling solutions like sharding, which are also set to come to the network, that figure rises to 1000x.

Moreover, sidechains can address the high transaction fees that have angered users, adding affordability that is already being leveraged by new defi applications eager to expand their footprint.

Decentralized exchanges (dex) and defi protocols like Uniswap have been the unfortunate casualties of Ethereum’s congestion due to their layer-one construction. To address this shortcoming, ZKSwap’s ZK-Rollups, an automated market maker (AMM) layer-two-based token swap protocol, has developed a sidechain rollup to overcome the issue.

This rollup can support defi, but without the high gas fees that have hounded defi participants. Buterin believes that this rollup may be the answer needed to achieve the 100x scalability he mentioned, and the solution has already delivered demonstrable results.

What cryptocurrency will become the main one in a year?

According to a Tweet from March 10t that focused on the layer-two dex competition, ZKSwap currently holds the top spot among similar solutions, recording over $66,000,000 in 24-hour trading volume.

L2 DEX trading volume in the last 24hrs:

1 @ZKSwapOfficial $70,717,033 (7% $ZKS)
2 @QuickswapDEX $32,014,977 (25% $QUICK)
3 @loopringorg $8,447,643 (63% $LRC)
4 @nashsocial $1,608,638
5 @deversifi $763,514
6 @Leverj_io $234,417
Powered by @coingecko API

— L2_Dex_Wars (@L2Wars) March 10, 2021

Total value locked (TVL) in the dex (decentralized exchange) numbers is presently over $813 million at the time of writing.

Do you think the Ethereum network will ride the current bull run to grow X100 as Vitalik predicts? let us know in the comments section below.


New EIP hopes to quell tensions between Ethereum’s miners and developers

New EIP hopes to quell tensions between Ethereum’s miners and developers

A brand new Ethereum Enchancment Proposal, or EIP, has emerged amid opposition from miners to scheduled modifications to the community’s payment market. Whereas some want to the proposal as a method to chill flaring tensions between Ethereum’s miners and builders, the EIP seems to have secured little assist from the neighborhood.

In latest weeks, tensions have escalated over EIP-1559 — an improve slated for integration in July that’s anticipated to self-discipline Ethereum’s risky payment market whereas considerably impacting miner revenues.

The brand new proposal, EIP-3368, advocates that block rewards instantly be elevated to three Ether after which diminished to 1 Ether over the 2 years following 1559’s implementation to ease the influence of Ethereum’s transition to Proof-of-Stake on miners.

On March 13, Ethereum developer Tim Beiko took to Twitter to share EIP-3368, encouraging strong debate over the proposal inside the Ethereum neighborhood. Whereas Beiko emphasised 3368 “just isn’t accepted” or “scheduled for a fork” but, the developer described the proposal as “probably the most tangible factor to return out of miner conversations [regarding 1559] previously few weeks.”

Popping out of my twitter break to share this: miners’ “counter proposal” to 1559 is EIP-3368, which might increase the block reward to three ETH and decrease it to 1 ETH over ~2 years. @BitsBeTrippin ought to current it on the subsequent AllCoreDevs. @EthMagicians thread:

— Tim Beiko | timbeiko.eth (@TimBeiko) March 12, 2021

Whereas many mining swimming pools have lengthy opposed EIP-1559, information the improve had been scheduled for deployment in July noticed outstanding miners threaten to arrange a “show of force” through which 1559’s opposers would divert their hash energy to a single pool for 51 hours.

Nonetheless, in response to EIP-3368, Crimson Panda Mining, a social influencer and crypto miner who was amongst these pushing for a miner rebel, pledged their assist for the proposal and introduced they’ll “rescind from the present of power:”

We now have been heard. EIP-3368 has been proposed. Reward to three ETH however drops 0.25 each quarter until 1 ETH over 2 years. I’m going to rescind from the present of power to @etherchain_org April 1st and so ought to all of you (until you had been already on ethermine)

— Crimson Panda Mining (@RedPandaMining) March 13, 2021

Whereas the feedback from Crimson Panda and Beiko suggesting Ethereum’s miners and builders could also be readying to work in the direction of some type of compromise, discussions relating to EIP-3368 on the Ethereum Magicians boards recommend Ethereum’s neighborhood continues to be very divided.

Consumer “inexperienced” describes the proposal as “a subsidy of customers to miners to delay impending change,” including:

“The private enterprise choices of miners are usually not the priority of Ethereum customers. You don’t socialize income, then you definitely don’t socialize losses.”

Different forum-goers emphasised efforts from Ethereum’s core builders to expedite the present community’s chain-merge with Eth2, describing 3368 as merely delaying the inevitable. “DCInvestor” stated: “Additional, lodging of this kind solely delays the inevitable as we transfer swiftly in the direction of a merge of eth1 and eth2, the place PoW mining rewards will probably be zero.” 

“IMO, we must always keep away from measures which encourage additional funding in mining {hardware} by miners given this actuality,” they added.

There additionally seems to be resistance to EIP-3358 from inside the miner neighborhood, with quite a few replies to Crimson Panda on Twitter indicating many miners nonetheless want to proceed with a present of power.


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Chinese Single Moms, Denied Benefits, Press for Change | Business News

Chinese Single Moms, Denied Benefits, Press for Change | Business News

By HUIZHONG WU, Associated Press

TAIPEI, Taiwan (AP) — Sarah Gao had a busy job. As the head of a 500 million yuan ($76.8 million) investment fund, she was constantly flying across China on business trips. Then she found out she was pregnant.

Her pregnancy, with her then-boyfriend, was unplanned. But Gao, who was 40, thought she wouldn’t have any more chances, and decided to keep the baby. What she did not realize was how that decision would lead to a nearly four-year legal battle for her maternity benefits.

Her protracted fight highlights the consequences that Chinese women face when they raise a child outside of a marriage. The vast majority are unable to access public benefits, ranging from paid maternity leave to prenatal exam coverage, because their status is in a legal gray zone. Some may even face fines.

Gao and some other single mothers want to change this. They are part of a small group, organized by Advocates for Diverse Family Network, that petitioned the Legal Affairs Committee of the National People’s Congress at its recently concluded annual meeting. They don’t expect immediate action, but they hope their needs will be reflected in the legislative agenda in the future.

China’s population is rapidly aging, and the government is eager to promote higher birthrates, relaxing restrictive family planning laws in 2015 so that each family can have two kids. Yet, the laws have not changed as quickly with regards to single parents.

There are no official statistics on the number of single-parent households in China, but a National Health Commission survey in 2014 estimated that there would be nearly 20 million single mothers by 2020. Many of them come from divorce, with divorce rates in the country nearly doubling from 2009 to 2018, according to the Ministry of Civil Affairs.

Following a difficult pregnancy, Gao gave birth to her daughter in November 2016. She went back to work after seven months of sick leave and maternity leave. Throughout her sick leave, her company, KunYuan Asset Management, paid her the bare minimum: roughly 1,000 yuan ($153) a month, a huge drop from her usual monthly salary of 30,000 yuan ($4,606). The company did not pay her during maternity leave.

Gao pressed the company for full salary and maternity leave benefits, part of which would come from the social insurance to which companies contribute by law.

In Beijing, where Gao lives, an employee can apply for those public benefits only through their company. But Gao’s company refused to apply for her, saying her materials were incomplete because she lacked a marriage license.

When she forced the issue, the company asked her to resign. Gao refused to quit at first, but eventually she was fired. However, the company refused to issue her a formal letter that would acknowledge her departure, making it difficult for her to find a new job.

The company did not respond to requests for comment via email, and phone calls to the head office in Beijing went unanswered.

Gao is suing the company for 1 million yuan ($153,645) in back pay, in addition to her maternity leave payment. She has lost twice in court since July 2017 and is appealing for a third time.

Each time, the court said that “Gao’s unmarried status while giving birth is not in line with national policy, and therefore lacked the legal basis for her to receive a salary during maternity leave.”

China’s family planning policy does not explicitly forbid unmarried women to have children, but says that “the state encourages a husband and wife to have two children.”

At the local level, this has been interpreted to mean that only a married couple can have children. This becomes an obstacle when trying to access benefits, such as reimbursement for prenatal visits and salary during pregnancy leave.

Many local governments require a marriage permit during this process, said Dong Xiaoying, the founder of Advocates for Diverse Family Network.

There have been some changes. In Guangdong province and Shanghai, governments have changed regulations so that a woman does not have to provide proof of marriage before getting benefits.

In January, Shanghai quietly implemented a new regulation that removed the need for a marriage permit to apply for benefits, helping women like Zou Xiaoqi, a single mother turned activist in Shanghai. Zou sued a Shanghai government agency in 2017 to get her maternity leave salary and the public insurance benefits. After years of media interviews, court appearances and lobbying city politicians, Zou received her benefits earlier this month.

The laws must change, Zou believes, as the cultural stigma is still very intense. Only recently did she find out that the mother of her son’s playmate was also a single mother. They had known each other for five months before the woman revealed that detail.

“Its direct impact is that there are some single moms already facing great difficulties who fall into more difficult positions,” Zou said. “The indirect impact is that some people are afraid to speak up, and some are afraid to face society and will face a lot of suppression. People who don’t want to marry end up getting married and enter into an unhappy marriage.”

Single moms and activists are hoping that a change on the national level can smooth out the situation for single mothers in the rest of the country, like Gao. A Guangdong delegate to the National People’s Congress said in February that the family planning law may need some clarifications to address the needs of single mothers, acknowledging their legal quandary.

“I just want to know in the national policy, as a single parent, as an unmarried woman, do I have the right to give birth?” Gao said.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Dash enters the Ethereum DeFi space!

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