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‘We are 50% of the way there,’ says Vitalik on Ethereum’s development

by John Stapel

In a two-hour Bankless podcast episode, the Ethereum co-founder discussed his plans to make Eth2 succeed.

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‘We are 50% of the way there,’ says Vitalik on Ethereum’s development

Vitalik Buterin has walked listeners through a five-part roadmap on the latest Bankless podcast where he outlined the necessary steps for Ethereum to survive and thrive.

In order to achieve ultimate scalability and decentralization, Butalik claimed that Ethereum needs to be more agile and more lightweight in terms of blockchain data so that more people can manage and use it.

At the beginning of December, Buterin also published an article titled “Endgame” where he makes the case that all blockchains will ultimately converge in the future while listing the tools that would allow for block verification to happen in a decentralized and censorship-resistant way.

The first step is called the merge, referring to the full transition away from proof-of-work to proof-of-stake, taking place in the first half of 2022. Part two, called the surge, plans to give Ethereum increased scalability, massive bandwidth and throughput, particularly on zk-Rollups. The merge and the surge are the most important upgrades, according to Buterin, to building out the Ethereum network.

When asked to evaluate Ethereum’s progress made so far in the past six years, Buterin asserted that “we are 50% of the way there” thanks to the launch of the Beacon Chain, the London hard fork and even the rise of nonfungible tokens. But there is still a long way to go.

Once the merge and surge go through, and there is full sharding implementation, then it will supposedly be 80% complete. The roadmap, which is estimated to take another six years to complete, will lead to 100% optimization, according to Buterin.

The next phases include the verge, enabling more users to run nodes and essentially “democratizing access to the broadest number of participants possible to anyone and everyone who wants to verify the validity of the chain,” said Buterin. Following the verge are the purge and splurge phases, referring to the elimination of historical data and the addition of miscellaneous upgrades, respectively. 

Related: Ethereum white paper predicted DeFi but missed NFTs: Vitalik Buterin

Buterin summarized his ideal scenario for an Ethereum 2.0 that doesn’t sacrifice decentralization for scalability:

“Leave the past in the past and create an Ethereum that actually becomes simpler and simpler over time.”

Buterin admitted that Etherum is “not yet the layer-one system that is ready for direct mass adoption” while reiterating the need for layer-two scaling solutions and reduced transaction fees. He does, however, note the “amazing” progress that Ethereum has seen in layer-two scaling over the past year and the community behind it that is “willing to continue fighting for it.”

In addition to scalability, another theme that Buterin emphasized is security and the safety measures around the upgrades. He compared blockchain building to the development of a city. Just as the police and the military work to defend their city or nation, so do blockchain users act as the security guards watching for attackers. And as cities expand or blocks get added to the chain, more security is needed.

Currently, Ethereum runs on about 2.6 megabytes per second of blockchain data, according to Buterin. He claimed that once Ethereum has the ability to add more bandwidth and increase the user base, “the more defenders will be able to run nodes and to verify that everything is going okay.”

Related: 3 reasons why Ethereum can reach $5,000 in Q1

Ethereum’s native token, Ether (ETH), stands as the world’s second-largest cryptocurrency in terms of market capitalization at $454 billion at the time of publication, making its journey to completion one of high-stakes. Below is a copy of the roadmap that Buterin posted to Twitter last month.

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",image:jR,openGraphType:ai}],articles:[rE],infiniteArticles:[{id:jz,isDeleted:a,isDisclaimerHidden:f,isSponsored:a,isPressRelease:a,isExplained:a,slug:"uk-air-traffic-tech-firm-uses-hedera-hashgraph-to-track-drones",url:r$,absoluteUrl:"https://cointelegraph.com/news/uk-air-traffic-tech-firm-uses-hedera-hashgraph-to-track-drones",title:jA,youtubeVideoIdCover:c,cover:sa,datePublished:Y,dateHuman:"47 minutes ago",humanDateTime:"2022-01-07 12:32",dateISOFull:"2022-01-07T12:32:46Z",publishedDateTimeObject:{year:z,month:q,day:B,hour:ep,minute:sr,second:ig,millisecond:e},categorySlug:R,categoryUrl:S,categoryName:T,authorName:ss,authorUrl:st,authorAvatar:su,previewText:"The multi-drone trial was held in Port Montrose, Scotland, and Cranfield University in Bedfordshire in April and October of 2021 respectively. ",twitterLeadText:"A drone is flying over my city! Hedera's public ledger consensus service was used by Neuron Innovations, a London-based aerospace technology company, in their drone data pilot sponsored by the U.K. government. ",badgeSlug:h,badgeName:X,fullText:"

Hedera's public ledger consensus service was recently used to “gather, store, and order” millions of data points in a drone data trial sponsored by the United Kingdom government.

As per an announcement, Hedera worked with Neuron Innovations, a London-based aviation technology company, to trial safe sharing of long-distance airspace by commercial, military, and government drones.

Neuron has implemented an \"aviation surveillance as a service\" system to allow drones to seamlessly join existing air traffic. The aviation tech firm then utilized Hedera Network's Hedera Consensus Service to “gather, store, and order” drone data. Neuron CEO Niall Greenwood said:

\"We have made unmanned, long distance drone travel possible using safety-critical aviation infrastructure. Each flight creates millions of data points, which no other public ledger has been fast enough to log and correctly order.\" 

The multi-drone trial was held in Port Montrose, Scotland, and Cranfield University in Bedfordshire in April and October of 2021. The Neuron sensors recorded data points concerning the drones' locations and direction while the Hedera Consensus Service logged and timestamped the data collected from each drone on its decentralized public ledger.

Related: Hedera and Korea's Shinhan Bank partner on KRW stablecoin pilot

The experiment, backed by the U.K. Department for Business, Energy and Industrial Strategy, was one of a number of drone-related tests. The main finding from the study was that it was possible to follow unmanned aircraft after they had passed out of view.

Hedera Hashgraph is a high-security, public distributed ledger technology network based on a proof-of-stake consensus algorithm. The proof-of-concept, which demonstrates that a certain procedure or concept is feasible, utilizes the Hedera Consensus Service and the Hedera Token Service.

Hedera Hashgraph has established a number of collaborations to apply blockchain technology in real-world applications across several sectors. In November 2021, Cointelegraph reported that the Hedera Council partnered with ServiceNow, a cloud-based digital workflow platform, to integrate the Now Platform and create a new degree of trust and responsibility in digital transactions.

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Despite major internet blackouts amid anti-government protests in Kazakhstan, some Bitcoin (BTC) miners operating in the country are not planning to leave the country just yet.

BIT Mining, one of the largest BTC mining companies that relocated operations from China to Kazakhstan last year, is still evaluating the impact of political unrest in Kazakhstan, Chinese industry news agency 8btc reported Friday.

“It is unlikely that our mining machines will be evacuated to North America,” a spokesperson for BIT Mining reportedly said, adding that the firm will be closely monitoring the situation.

The representative also noted that Kazakhstan is not BIT Mining main area of business, as it has a number of “mid-to-high-end mining machines” deployed in North America. “It is unlikely that the machines will be withdrawn from Kazakhstan to North America, and further actions will be disclosed,” the report said.

According to some sources, Kazakhstan-based miners have managed to keep their unites online despite the internet outages.

“Some Kazakhstan miners told us that the internet was temporarily restored on January 7th. In addition, the 4G network of Chinese phones is also intermittently effective. The industry expects that the country may return to normal next Monday,” Chinese blockchain journalist Colin Wu reported Friday.

Sources also said that some miners’ operations were unaffected because they are mostly located in remote areas while protests were concentrated in the urban area of Almaty. “It has not been heard that any miners have been robbed, but they cannot mine because of the network interruption,” Wu reported.

According to the latest data from network stability data provider NetBlocks, the internet in Kazakhstan had been shut down for 36 hours by Friday morning, with connectivity levels standing at 5%.

⚠️ Update: It's now Friday morning in #Kazakhstan where internet has been shut down for some 36 hours, placing public safety at risk and leaving friends and family cut off.

Connectivity levels continue to flatline at just 5% of ordinary levels.

Report: https://t.co/Op5GwzXKbh pic.twitter.com/xQIYdZVhbK

— NetBlocks (@netblocks) January 6, 2022 \n\n

Related: Top Bitcoin mining country Kazakhstan turns off internet amid protests

But despite the ongoing nation-wide blackouts, Kazakhstan unrest appears to have had little to no effect on the global Bitcoin hash, according to some sources. Data from major BTC blockchain explorer Blockchain.com suggests that the total BTC hash rate has not dropped at all since the beginning of 2022.

Total BTC hash rate 30-day chart. Source: Blockchain.com

BIT Mining and other major Kazakhstan mining services operators like the Chinese firm Canaan did not immediately respond to Cointelegraph’s request for comment.

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Samsung is the latest megacorporation to announce a metaventure project, choosing Decentraland for its metaverse project. 

On Thursday, the consumer electronics giant announced the opening of a virtual replica of its iconic New York physical store in order to enhance customer interaction at a time when COVID-19 is keeping people away from physical shops.

The Samsung metaverse store is a replica of a real-world shop situated at 837 Washington Street in New York City’s Meatpacking District in Manhattan. The Samsung 837X shop will now be accessible in the metaverse for a limited time. The company claims that it is one of the largest brand land takeovers in Decentraland, a blockchain-powered metaverse.

Customers must first enter Decentraland via a web browser to access the store. After logging in, their avatar will be sent outside Samsung’s metaverse structure. When the avatar enters the lobby, a virtual guide will lead the avatar to one of three interior rooms: sustainability, customization and connection.

Related:  Blockchain and the metaverse make inroads at Consumer Electronics Show

The Samsung 837X store will feature “Connectivity Theater and Sustainability Forest” as well as a musical event at the “Customization Stage,” according to Samsung.

The South Korean technology giant recently announced the release of a new smart TV range with an integrated nonfungible token (NFT) platform. Micro LED, Neo QLED and The Frame are just a few of Samsung’s 2022 smart TVs that will have an NFT Platform app for discovering, purchasing and trading digital art.

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Over the past seven days, the top trending words on cryptocurrency social media are “dip,” “buy” and “Fed.” Plus, the word “sell” fell out of the top 10 trending topics on Thursday despite spiking sharply on Tuesday. 

According to crypto market data aggregator Santiment, social media users from Meta to Telegram to Twitter have formed a choir, and they’re all singing from the same hymn sheet. “Dip” and “buy” are the No. 1 and No. 3 trending words, respectively, while “Fed,” or Federal Reserve, sits at number six.

The behavior analysis from the monitoring platform sheds light on social volumes for words on crypto social media, which can be indicative of overall sentiment. It works in a similar way to the Crypto Fear Greed Index, which currently shows a score of 18, “extreme fear.”

In contrast to the Index and some trader fears of a $30,000 price per Bitcoin (BTC), social media buy sentiment remains strong. It is still just one-third of the score of 1,875 points that spiked on Dec. 4, 2021, when BTC’s price flash-crashed to $42,000.

The United States Federal Reserve features high up on the list due to discussion surrounding a potential rate increase in 2022. Bitcoin bull Vijay Boyapati is nonplussed. In a tweet on Wednesday, he suggested that BTC will fly when the Fed “loses control of the bursting bubble they’ve inflated for the last decade.”

Related:  Cardano became the most developed crypto project on GitHub in 2021 — Santiment

Curiously, there was a spike in “sell” sentiment activity on Tuesday. The clamoring to sell three days ago was just as intense as those chiding investors to buy on Nov. 29, 2021, at 4,828 Santiment points. However, back then the bull run appeared to be in full swing.

Overall, crypto sentiment seems optimistic that the current market action is just a dip. However, the topic “bear” has crept up from the No. 10 position Thursday evening to number eight on Friday.

With BTC prices dipping as low as $41,000, there could be more volatility to come.

\n\n\n\n\n",audio:"https://s3.cointelegraph.com/audio/79033.52b64cd2-a779-4cc4-8a37-2ccdfbb9a34e.mp3",facebookShares:f,twitterShares:f,linkedinShares:f,redditShares:f,views:2674,shares:57,tags:[{id:J,slug:ik,title:Z,url:ha},{id:"695",slug:"bitcoin-price",title:"Bitcoin Price",url:"/tags/bitcoin-price"},{id:sK,slug:"bitcoin-analysis",title:"Bitcoin Analysis",url:"/tags/bitcoin-analysis"},{id:"2014",slug:"markets",title:sL,url:"/tags/markets"},{id:"9421",slug:"trading",title:"Trading",url:"/tags/trading"}],topics:[],relatedPosts:[],trackingPixelUrl:"https://zoa.cointelegraph.com/pixel?postId=79033regionId=1",showShares:b,showStats:b,isNoIndex:a},{id:jH,isDeleted:a,isDisclaimerHidden:f,isSponsored:a,isPressRelease:a,isExplained:a,slug:"spanish-lgbt-token-responds-to-critics-says-it-expects-listings-soon",url:sh,absoluteUrl:"https://cointelegraph.com/news/spanish-lgbt-token-responds-to-critics-says-it-expects-listings-soon",title:jI,youtubeVideoIdCover:c,cover:si,datePublished:Y,dateHuman:sI,humanDateTime:"2022-01-07 10:20",dateISOFull:"2022-01-07T10:20:51Z",publishedDateTimeObject:{year:z,month:q,day:B,hour:V,minute:il,second:av,millisecond:e},categorySlug:R,categoryUrl:S,categoryName:T,authorName:sy,authorUrl:sz,authorAvatar:sA,previewText:"The MariCoin project was among 10 projects chosen for the Algorand Foundation accelerator program in November 2021. ",twitterLeadText:"MariCoin is reportedly expecting listings later this month. ",badgeSlug:h,badgeName:X,fullText:"

Spanish LGBT-related token MariCoin (MCOIN) has responded to the community following skepticism around the project’s concept and goals.

Some had even criticized the project for its name, which played on a homophobic slur in Spanish. But according to key people in the project, they have simply misunderstood. 

MariCoin CEO Francisco Alvarez told Cointelegraph that the project’s name is about “turning an insult into a fortress,” referring to peculiarities of tackling homophobic language as the very word word “gay” is still being used as an insult in some communities.

“In Spain it is very common for members of the gay community to call themselves ‘Maricón,’ so Juan, an active member of the community, thought MariCoin was a fantastic name for a cryptocurrency that would unite the whole community,” Alvarez said.

The CEO noted that the MariCoin project has “found a generalized acceptance” of over 90% in other Spanish-speaking countries like Argentina, Venezuela, Cuba, Mexico, Uruguay, Ecuador, and others. “Although we must work on that other 10% that does not share our vision,” he noted.

According to MariCoin co-founder and president Juan Belmonte, the project expects to list its Algorand-based token on crypto exchanges supporting the Algorand blockchain on Jan. 31.

“We have been in talks since September 2021, as we have announced, to list on Binance. Our CTO is working on the white paper and we will have the first version ready next week,” Belmonte told Cointelegraph.

He also noted that MariCoin has closed their waiting list at 10,000 “Maricoiners,” as committed in their roadmap. “Due to the avalanche of mails, we have had to open a second list to reserve the coin at the starting price of $0.025, starting next January 31,” the executive added. Some people in the community previously were skeptical about MariCoin’s waiting list for investing via Google Forms.

Related: New LGBTQ token aims for equity but raises red flags with community

Belmonte also mentioned that MariCoin was selected for the Algorand Foundation accelerator program in Miami last year, with support from blockchain investment firm Borderless Capital. Apart from MariCoin, the accelerator also selected 9 other startups including Latin American digital bank NeoMoon, blockchain game Alchemon, nonfungible token platform Dartroom, and others.

The Algorand Foundation and Borderless Capital did not immediately respond to Cointelegraph’s request for comment.

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Bitcoin-based genetic data tracking system Eggschain has announced a partnership with the Boston IVF chain of 30 fertility clinics in the United States.

The new partnership will use blockchain technology provided by Eggschain to aid in the tracking of cryogenically preserved sperm to be used for in vitro fertilization (IVF) and other fertility and non-fertility treatment, as well as long-term storage of genetic data. A spokesperson for Eggschain said:

“Using the blockchain to track biospecimens such as sperm and eggs empowers individuals facing reproductive issues. This pivotal partnership enables greater confidence through the transparency and immutability of the data.”

Founded in 1986, Boston IVF is a chain of fertility clinics that specialize in IVF, genetic data storage and endocrinology. The clinics have reportedly helped over 100,000 babies be delivered so far. The chain has also graduated more than 30 reproductive endocrinologists through its accredited REI Fellowship Program.

Boston IVF CEO David L. Stern said he hopes that integrating blockchain technology into the company’s operations will improve the customer experience “with an unparalleled level of transparency and security.”

Austin-based Eggschain is a healthcare technology company building a supply chain solution for the fertility industry using blockchain built on Bitcoin layer-two Stacks. It operates a custody management system that secures stem cells, DNA, RNA, organs, tissues, blood and IVF. It supposedly reduces time in the sperm selection process across global jurisdictions by registering data on its platform, protecting high-level patient data, preventing misfiling data and increasing the transparency of overall operations.

Related: Make a wish: New Year's resolutions from crypto industry insiders

By partnering with Boston IVF, Eggschain is entering the $21.89-billion global IVF market that is forecast to have reached nearly $34 billion by 2028, according to a report by Grand View Research.

The healthcare industry has enjoyed several benefits from blockchain technology, such as from Cure Chain and Aimedis, which utilize nonfungible tokens to help patients store data and even offer crypto rewards for adding to their profile.

",audio:"https://s3.cointelegraph.com/audio/79029.871bddcc-1a81-4639-8178-a436619b244b.mp3",facebookShares:f,twitterShares:f,linkedinShares:f,redditShares:f,views:860,shares:sN,tags:[{id:J,slug:ik,title:Z,url:ha},{id:I,slug:fT,title:fM,url:eo},{id:"7479",slug:"healthbase",title:"Healthbase",url:"/tags/healthbase"},{id:"9390",slug:"data",title:"Data",url:"/tags/data"}],topics:[],relatedPosts:[],trackingPixelUrl:"https://zoa.cointelegraph.com/pixel?postId=79029regionId=1",showShares:b,showStats:b,isNoIndex:a},{id:ie,isDeleted:a,isDisclaimerHidden:f,isSponsored:a,isPressRelease:a,isExplained:a,slug:"solana-network-faces-degraded-performance-for-the-second-time-this-week",url:sl,absoluteUrl:"https://cointelegraph.com/news/solana-network-faces-degraded-performance-for-the-second-time-this-week",title:jL,youtubeVideoIdCover:c,cover:sm,datePublished:Y,dateHuman:sM,humanDateTime:"2022-01-07 09:40",dateISOFull:"2022-01-07T09:40:36Z",publishedDateTimeObject:{year:z,month:q,day:B,hour:fU,minute:jv,second:jW,millisecond:e},categorySlug:R,categoryUrl:S,categoryName:T,authorName:"Ezra Reguerra",authorUrl:"/authors/ezra-reguerra",authorAvatar:"https://s3.cointelegraph.com/storage/uploads/view/b3f196ca08db938d691ee77699aaf4ff.jpg",previewText:"Solana suffered a fourth network incident in the span of a few months. Two out of the four issues happened this week.",twitterLeadText:"Solana's blockchain suffers another network performance degradation issue this week. ",badgeSlug:h,badgeName:X,fullText:"

The Solana blockchain has faced its second network performance degradation incident this week. According to Solana, this is happening because of a rise in high compute transactions. 

As a result, the network capacity, which was originally advertised to be 50,000 transactions per second (TPS), was reduced to several thousand TPS. Solana cited this as the reason why users experienced failed transactions and added that its developers are already working to fix the issues.

This latest network issue came only a few days after a similar incident on Tuesday, where users experienced the same problems. Many speculated that the Tuesday incident was due to a distributed denial-of-service (DDoS) attack, but Solana co-founder Anatoly Yakovenko responded on Twitter, saying that it’s just the “pain of getting a new runtime commercialized.”

Amid these recent events, Cyber Capital chief investment offic Justin Bons expressed his disapproval with Solana and published a series of tweets enumerating the reasons why he doesn’t support the project. Bons claims that Solana is “consistently displaying a pattern of bad behavior” and “prioritizing attracting ignorant investors over good blockchain design.”

Bons also criticized the security of the network, mentioning that DDoS attacks are not the only concern. He said that DDoS can be combined with a 51% attack. With this, he claims that attackers can “temporarily gain proportional-staked control over the network by attacking other stakeholders.”

Yakovenko dismissed this as “exhausting nonsense,” stating, “It’s impossible to DDoS a private key.”

Related: Solana reportedly hit by DDoS attack, but network remains online

Last year, Solana was hit by a DDoS attack causing a similar effect and degrading the network’s performance. Solana Labs head of communications Austin Federa said that the outage came after a number of transactions during an initial DEX offering “landed in a Solana block that took an excessive amount of compute power.” “Compute for those kinds of transactions wasn’t properly metered by the network, and caused blocks to take much longer to process than the network expected,” Federa stated.

\n\n\n",audio:"https://s3.cointelegraph.com/audio/79028.c522727b-751f-49a0-8826-3004cfd4c814.mp3",facebookShares:f,twitterShares:f,linkedinShares:f,redditShares:f,views:5606,shares:j$,tags:[{id:I,slug:fT,title:fM,url:eo},{id:"1940",slug:"update",title:"Update",url:"/tags/update"},{id:sO,slug:ka,title:ao,url:sP}],topics:[],relatedPosts:[],trackingPixelUrl:"https://zoa.cointelegraph.com/pixel?postId=79028regionId=1",showShares:b,showStats:b,isNoIndex:a},{id:jM,isDeleted:a,isDisclaimerHidden:f,isSponsored:a,isPressRelease:a,isExplained:a,slug:"mozilla-backflips-on-accepting-crypto-after-planet-incinerating-backlash",url:sn,absoluteUrl:"https://cointelegraph.com/news/mozilla-backflips-on-accepting-crypto-after-planet-incinerating-backlash",title:jN,youtubeVideoIdCover:c,cover:so,datePublished:Y,dateHuman:sQ,humanDateTime:"2022-01-07 05:17",dateISOFull:"2022-01-07T05:17:00Z",publishedDateTimeObject:{year:z,month:q,day:B,hour:U,minute:sR,second:e,millisecond:e},categorySlug:R,categoryUrl:S,categoryName:T,authorName:"Surajdeep Singh",authorUrl:"/authors/surajdeep-singh",authorAvatar:"https://s3.cointelegraph.com/storage/uploads/view/422b8ae3bb89a5fca07ae7999226ef91.jpg",previewText:"“Everyone involved in the project should be witheringly ashamed of this decision to partner with planet-incinerating Ponzi grifters,” said Mozilla co-founder Jamie Zawinski.",twitterLeadText:"A week after announcing that it would accept crypto donations, the Mozilla Foundation has reversed the decision following an online backlash led by co-founder Jamie Zawinski.",badgeSlug:h,badgeName:X,fullText:"

The Mozilla Foundation has put cryptocurrency donations on hold following a community backlash sparked by trenchant criticism from co-founder Jamie Zawinski.

Last week, the development company behind the Firefox browser tweeted an appeal for donations in cryptocurrency.

But earlier on Thursday, Mozilla announced it had paused crypto donations due to the online discussion around crypto’s environmental impact.

Last week, we tweeted a reminder that Mozilla accepts cryptocurrency donations. This led to an important discussion about cryptocurrency’s environmental impact. We’re listening, and taking action. 1/4

— Mozilla (@mozilla) January 6, 2022 \n\n

Mozilla said it would continue to explore decentralized web technology but will only resume crypto donations if it fits with its climate goals. It said that in the spirit of open source, Mozilla will be transparent in the review process and share constant updates.

The drama began on Dec. 31 when the organization put out a call for cryptocurrency donations via the BitPay platform.

The nonprofit’s post attracted the disapproval of some members of its community, including Mozilla’s Zawinski. Although he has not been associated with Mozilla since 2000, he criticized the organization in the strongest possible terms:

“Everyone involved in the project should be witheringly ashamed of this decision to partner with planet-incinerating Ponzi grifters.”

In a blog published on his website on Wednesday, Zawinski further talked about the cryptocurrency industry and what he argues is its unrealistic business model. Zawinski argues the industry manufactures pollution and turns it into money.

Some members of the community called for Mozilla to delete its call for donations and to spell out how accepting crypto was in line with its mission to fight the ongoing climate crisis.

Twitter user Mcbyrne said, “Bitcoin is bad for [the] climate,” while Seglegs questioned why Mozilla was an “enabling environmental catastrophe” by supporting crypto.

Some community members pointed to a company blog about the organization’s climate commitments on Jan. 21, 2021, in which CEO Mitchell Baker is quoted talking about Mozilla’s and his commitment to protecting the environment and facing the climate crisis.

According to The New York Times, Bitcoin (BTC) mining consumes more than 91 terawatt-hours of electricity per year — nearly 0.5% of global electricity consumption annually.

Mozilla is the latest high-profile example to face the ire of some users after making crypto- and nonfungible token (NFT)-related announcements. In recent months, Ubisoft, Square Enix, Kickstarter and Discord have all faced criticism due to the environmental effects of mining and professed concerns over crypto scams and frauds.

Popular video gaming company Square Enix faced criticism from gamers on social media when its president, Yosuke Matsuda, showed appreciation for blockchain gaming, NFTs and the metaverse over the weekend. Then again, money speaks louder than keyboard warriors, and his comments led to an 8% gain in share price.

Related: New LGBTQ token aims for equity but raises red flags with community

Gaming giant Ubisoft faced harsh criticism by its users upon announcing the launch of in-game NFTs on Dec. 7. Despite a significant backlash, Ubisoft will continue with its initiative in the form of dynamic NFTs with Aleph.im.

Also in early December, Kickstarter announced plans to develop a decentralized crowdfunding platform. Some users threatened to abandon the platform owing to the environmental impact of crypto.

On Nov. 9, Discord CEO Jason Citron shared a tweet signaling the company’s intent to allow users to connect a crypto wallet with their accounts. Users expressed their concerns and talked about the amount of energy required to process blockchain transactions and the potential for money laundering and scams in crypto and NFTs.

Just two days after publishing the tweet, Citron backtracked and said the company had no current plans on integrating Web3 concepts and is committed to protecting its users from fraud, spam and scam.

",audio:"https://s3.cointelegraph.com/audio/79019.ed2dc8b9-6b54-4f93-b3c6-6ce833eccde9.mp3",facebookShares:f,twitterShares:f,linkedinShares:f,redditShares:f,views:6021,shares:105,tags:[{id:I,slug:fT,title:fM,url:eo},{id:sS,slug:"mozilla",title:"Mozilla",url:"/tags/mozilla"},{id:jV,slug:sB,title:sC,url:sD},{id:sE,slug:sF,title:sG,url:sH},{id:"3795",slug:"environment",title:"Environment",url:"/tags/environment"}],topics:[],relatedPosts:[],trackingPixelUrl:"https://zoa.cointelegraph.com/pixel?postId=79019regionId=1",showShares:b,showStats:b,isNoIndex:a},{id:jO,isDeleted:a,isDisclaimerHidden:f,isSponsored:a,isPressRelease:a,isExplained:a,slug:"p2e-game-nyan-heroes-aims-to-save-1-billion-sheltered-cats",url:sp,absoluteUrl:"https://cointelegraph.com/news/p2e-game-nyan-heroes-aims-to-save-1-billion-sheltered-cats",title:jP,youtubeVideoIdCover:c,cover:sq,datePublished:Y,dateHuman:sQ,humanDateTime:"2022-01-07 04:29",dateISOFull:"2022-01-07T04:29:49Z",publishedDateTimeObject:{year:z,month:q,day:B,hour:s,minute:sT,second:49,millisecond:e},categorySlug:R,categoryUrl:S,categoryName:T,authorName:sU,authorUrl:sV,authorAvatar:"https://s3.cointelegraph.com/storage/uploads/view/1d023c7b8a6aa3e5353b49ee558fdddb.jpg",previewText:"“We need to realize that building a game is not only about the game play, but about the economic system and how sustainable everything is,” said co-founder Wendy Huang. ",twitterLeadText:"After donating $250K from an NFT drop to an animal charity last month, upcoming P2E game Nyan Heroes says its goal is to save 1 billion sheltered cats from euthanization. ",badgeSlug:h,badgeName:X,fullText:"

Cat-themed play-to-earn (P2E) nonfungible token (NFT) game Nyan Heroes is aiming to save 1 billion cats from euthanization in animal shelters across the United States.

Nyan Heroes is an upcoming NFT battle royal shooter-style game built on the Solana blockchain that will enable players to compete with each other using NFTs depicting animated cats that are used to pilot mech-robot NFTs in the game.

The U.S.-based project has been in development since October, and the game is set for release in Q4 2022. Its first NFT drop is currently available for hodling and trading on marketplaces such as Fractal.

According to data from Solana Art, Nyan Heroes is the fourth-highest NFT project on Solana in terms of seven-day volume and market capitalization, at $279,000 and $18.2 million, respectively.

In an interview with Cointelegraph, Nyan Heroes co-founder Wendy Huang outlined the firm’s charitable vision moving forward, along with providing a rundown of the upcoming game.

Huang has been involved with crypto since 2016 and has also built a successful career as a content creator ranging from video blogs to DIY videos, pranks and music and has amassed almost 14 million subscribers on YouTube.

Save the cats

Huang stated that her and fellow co-founder Max Fu’s love for cats was a key driver behind tying animal-focused charity work to Nyan Heroes. She said they have an ambitious goal of “saving 1 billion cats” from euthanization in animal shelters via charitable donations generated from portions of the project’s NFT sales.

Nyan Heroes revealed its first efforts in this area on Dec. 24 when it announced a $250,000 donation from the proceeds of its first NFT drop to the nonprofit Best Friends Society. “That was one of the proudest moments I’ve had in this project,” she said.

— Best Friends (@bestfriends) January 3, 2022 \n\n

Best Friends Society provides a “no kill” sanctuary for orphaned animals and also prevents cat and dog deaths in shelters across the U.S. through its charity work. The group estimates that its “no kill” movement has helped reduce the number of cat and dog deaths in animal shelters from 17 million yearly to around 347,000.

Huang revealed that the game project will be launching a decentralized autonomous organization (DAO) that will give its members voting rights on where Nyan Heroes donations will be allocated in the future.

“We’ll be creating a young hero DAO. And part of that DAO’s responsibilities will be deciding where to donate funds to, to which animal shelter and to what causes in that particular realm,” she said.

Related: Play-to-earn game hosts Christmas charity drive for Ol Pejeta Conservancy

Nyan Heroes

Huang highlighted that a major sticking point for P2E blockchain games is long-term sustainability. She said many P2E games are reliant on a continual stream of new users to remain profitable and suffer from players continually cashing out and taking value out of the game.

“We don’t know how many players will be coming into the economy. So we need to realize that building a game is not only about the game play, but about the economic system and how sustainable everything is,” she said.

Huang said Nyan Heroes’ sustainability model is built off several factors, such as introducing an in-game stablecoin to reduce the volatility of its assets, staking rewards on NFTs and a triple-A gaming experience similar to Fortnite, which has “historically attracted players” who want to spend money on the game:

“The way we address it is to come up with a better game where users will actually want to play the game and inject value into the system to balance out the players that come into the ecosystem to take value out.”

“We keep the in-game token stable so that the value of your in-game items isn’t going to crash and burn. And we feel like that’s what players need to want to stay with a game. You don’t want your in-game items to be worth $1,000 one day and then $10 dollars the next,” she added.

Proudly introducing our new expanded team! With decades of experience in AAA studios like Riot Games, EA, Ubisoft and Respawn, our team is ready to take NH to new heights in 2022!

This is only just the beginning, you are here early.

The amazing team:https://t.co/0cmPgsaigh pic.twitter.com/3R3l18E3gO

— Nyan Heroes (@nyanheroes) December 29, 2021 \n\n ",audio:"https://s3.cointelegraph.com/audio/79018.6360f67f-12de-413e-9f62-a15dc259e525.mp3",facebookShares:f,twitterShares:f,linkedinShares:f,redditShares:f,views:4824,shares:rF,tags:[{id:I,slug:fT,title:fM,url:eo},{id:"3071",slug:"games",title:"Games",url:"/tags/games"},{id:"4738",slug:eq,title:"YouTube",url:"/tags/youtube"},{id:"9519",slug:"blockchain-game",title:"Blockchain Game",url:"/tags/blockchain-game"},{id:sO,slug:ka,title:ao,url:sP},{id:"9528",slug:"nft",title:"NFT",url:kb},{id:"9594",slug:"gaming",title:"Gaming",url:"/tags/gaming"}],topics:[],relatedPosts:[],trackingPixelUrl:"https://zoa.cointelegraph.com/pixel?postId=79018regionId=1",showShares:b,showStats:b,isNoIndex:a},{id:gk,isDeleted:a,isDisclaimerHidden:f,isSponsored:a,isPressRelease:a,isExplained:a,slug:"vitalik-proposes-new-multidimensional-ethereum-fee-structure",url:jQ,absoluteUrl:sW,title:if_,youtubeVideoIdCover:c,cover:jR,datePublished:Y,dateHuman:sX,humanDateTime:"2022-01-07 03:41",dateISOFull:"2022-01-07T03:41:50Z",publishedDateTimeObject:{year:z,month:q,day:B,hour:t,minute:hb,second:E,millisecond:e},categorySlug:R,categoryUrl:S,categoryName:T,authorName:sY,authorUrl:sZ,authorAvatar:"https://s3.cointelegraph.com/storage/uploads/view/1fbd2538a306940c411c434b10def677.jpg",previewText:"Calculating different gas prices for different resource usage may streamline the current fee structure for Ethereum, according to Buterin.",twitterLeadText:"Creator Vitalik Buterin has proposed a “multidimensional” Ethereum gas fee calculation structure to alleviate “sub-optimal gas costs” with the current system. ",badgeSlug:h,badgeName:X,fullText:"

Ethereum co-founder Vitalik Buterin has put his thinking cap on again in an attempt to improve the current fee structure for the network.

The proposal titled “Multidimensional EIP-1559” was laid out in a blog post on Wednesday in which Buterin noted that different resources in the Ethereum Virtual Machine (EVM) have different demands in terms of gas usage.

He added that there are different limits for short-term “burst” capacity as opposed to “sustained” capacity within the EVM, citing examples of block data storage, witness data storage and block state size changes.

“The scheme we have today, where all resources are combined together into a single multidimensional resource (‘gas’), does a poor job at handling these differences.”

The problem is that channeling all the different resources into a single one leads to “very sub-optimal gas costs” when these limits are misaligned, he added.

Buterin outlined his fairly complicated proposed changes with a lot of technical math, but in a nutshell, the proposal offered two potential solutions using “multidimensional” pricing.

The first option would calculate the gas cost for resources such as call data and storage by dividing the base fee for each unit of resource by the total base fee. The base fee is a fixed-per-block network fee included in the Ethereum Improvement Proposal (EIP) 1559 algorithm.

The second more complex option sets a base fee for using resources but includes burst limits on each resource. There would also be “priority fees,” which are set as a percentage and calculated by multiplying the percentage by the base fee.

He stated that the drawback to the multidimensional fee structure is that “block builders would not be able to simply accept transactions in high-to-low order of fee-per-gas.” They would have to balance the dimensions and solve additional mathematical problems.

Related:  Ethereum supply flips briefly into deflation as gas fees spike

It remains to be seen whether the proposal will be passed since the priority at the moment is the next big upgrade. The Ethereum network is currently gearing up for “the merge,” which will dock the Ethereum blockchain with the Beacon Chain and effectively end its use of the proof-of-work consensus algorithm. Testing is already underway on the Kintsugi testnet, and full deployment is expected in the first quarter of this year.

EIP-1559 was deployed in August as part of the London upgrade to burn a portion of the transaction fees in order to make gas pricing more predictable. Since it went live, 1.36 million Ether (ETH) worth approximately $4.7 billion at current prices has been destroyed, according to the burn Ultrasound.money.

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Before trading, we recommend to make sure that you have a clear understanding of cryptocurrencies and how they are traded.","https://changelly.page.link/ct_button_1","hitbtc-button","9","57","article","cointelegraph.com","2","7","22","23","Solana","17",79,138,"0.89","en.LanguageType.1",11,51,"https://cointelegraph.us3.list-manage.com/subscribe/post-json?u=2c088712615955cd2f82aa968id=7376af3992","https://cointelegraph.us3.list-manage.com/subscribe/post-json?u=2c088712615955cd2f82aa968id=aad9f6b505","21","26",48,"/bitcoin-cash-price-index","/ltc-price-index","/xrp-price-index","/xmr-price-index","_blank","52","8","38","41","58","56","1.00","78885",47,"BTC","\n\n\n ","/bitcoin-price","ETH","\n\n\n\n\n\n\n\n ","/ethereum-price","3","LTC","Litecoin","\n\n\n ","15","BNB","Binance Coin","\n\n\n \n","/binance-coin-price-index","34","SOL","\n\n\n\n\n\n\n\n \n\n \n","/solana-price-index","XRP","Ripple","\n\n \n","6","BCH","Bitcoin Cash","\n\n\n ","XMR","Monero","\n\n\n\n \n","DASH","Dash","\n\n\n\n \n","/dash-price-index","\n\n\n \n","/eos-price-index","ZEC","Zcash","\n\n\n\n\n \n","/zec-price-index","12","ADA","Cardano","\n\n ","/ada-price-index","13","\n\n\n\n \n","/neo-price-index","14","TRX","TRON","\n\n\n \n","/tron-price-index","XLM","Stellar","\n\n\n\n \n","/stellar-price-index","USDT","Tether","\n\n\n \n","/tether-price-index","18","MIOTA","IOTA","\n\n \n","/iota-price-index","19","ONT","Ontology","\n\n\n \n","/ontology-price-index","20","MKR","Maker","\n\n\n \n","/maker-price-index","BSV","Bitcoin SV","\n\n\n \n","/bsv-price-index","DOGE","Dogecoin","\n\n\n \n","/doge-price-index","ETC","Ethereum Classic","\n\n\n\n\n\n\n\n\n\n\n\n\n \n","/etc-price-index","24","XTZ","Tezos","\n\n\n\n\n\n\n \n\n \n","/xtz-price-index","XEM","NEM","\n\n\n\n \n","/nem-price-index","USDC","USD Coin","\n\n\n ","/usdc-price-index","28","CRO","Crypto.com Coin","\n\n\n ","/crypto-com-price-index","29","ATOM","Cosmos","\n\n\n\n\n\n\n\n \n","/cosmos-price-index","30","LEO","UNUS SED LEO","\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n \n\n \n","/leo-price-index","54","UNI","Uniswap","\n\n\n\n \n\n\n\n\n \n\n \n","/uniswap-price-index","55","YFI","Yearn.finance","\n\n\n\n\n \n","/yearn-finance-price-index","33","MATIC","Polygon","\n\n\n \n","/polygon-price-index","37","BAND","Band Protocol","\n\n\n \n","/band-protocol-price-index","LINK","Chainlink","\n\n\n \n","/chainlink-price-index","DOT","Polkadot","\n\n \n","/polkadot-price-index","39","COMP","Compound","\n\n\n \n","/compound-price-index","35","AAVE","Aave","\n\n\n\n\n\n\n \n\n \n","/aave-price-index","SUSHI","SushiSwap","\n\n\n \n\n\n\n\n\n \n\n\n\n\n\n \n\n \n","/sushiswap-price-index","53","SNX","Synthetix","\n\n\n \n","/synthetix-price-index","CAKE","PancakeSwap","\n\n\n\n \n\n\n\n\n \n\n \n","/pancakeswap-price-index","LUNA","Terra","\n \n","/terra-price-index","VET","VeChain","\n\n ","/vechain-price-index","36","AVAX","Avalanche","\n\n\n \n","/avalanche-price-index","SHIB","Shiba Inu","\n\n ","/shiba-inu-price-index","10.52 m","9.00 b",35027397833.31289,"35.03 b","1.15 b","0.74","/tags/blockchain",12,"youtube","side","nexo-button","Changelly",95,18873906,"18.87 m",118350847.124,"118.35 m",69362733.23347135,"69.36 m",166801147.9,"166.80 m",512822445.0347855,"512.82 m",99989867338,"99.99 b",18901143.64665293,"18.90 m",18059014.185751732,"18.06 m",10522974.48476564,1043836741.2658,"1.04 b",11985472.19754682,"11.99 m",32931905758.086735,"32.93 b",99241947122,"99.24 b",50001802382.13987,"50.00 b",78426163467.5612,"78.43 b",2779530283.277761,"2.78 b",985745.9836048812,"985.75 k",18945026.64423905,"18.95 m",132699006383.70522,"132.70 b",130820692.55572988,"130.82 m",901304963.684874,"901.30 m",8999999999,30263013692,"30.26 b",285558103.59189,"285.56 m",938443997.9,"938.44 m",36666,"36.67 k",10000000000,"10.00 b",1152762531.1367981,10000000,"10.00 m",16000000,"16.00 m",239229919.9485487,"239.23 m",240756074.66022596,"240.76 m",256390408.29477727,"256.39 m",830341699.147616,"830.34 m",85985041177,"85.99 b",396174545.8017438,"396.17 m",589736223079818.2,"589.74 t","Blockchain","Y2hhbmdlbGx5LWJ1dHRvbg==","https://nexo.io/exchange?utm_source=cointelegraphutm_medium=fixedutm_campaign=cointelegraph_exchange_button_nov21","0.67","3.45 m","0.46","5.75","blockchain",9,"/category/market-analysis","Market Analysis","Large devices"," 1200px","Medium devices"," 992px","Small tablets"," 768px","Smartphones"," 480px","Extra small devices","

BuyBitcoinsWithUsdEur