Do Kwon, the co-founder and CEO of Terraform Labs, confirmed the relaunch of Terra’s new chain, Terra 2.0, which aims to revive the fallen Terra (LUNA) and TerraUSD (UST) ecosystem. Kwon’s revival plan for Terra involves hard forking the existing blockchain and reissuing LUNA tokens to existing investors based on a snapshot before the death spiral bled the LUNA and UST markets — effectively resulting in unrecoverable losses for investors. Pheonix-1 mainnet is now live and producing blocks - public node services, wallets and explorers should be going live shortly. pic.twitter.com/cpxiNKl6aX — Do Kwon (@stablekwon) May 28, 2022 Dubbed Phoenix-1, …

As the dust settles from the Terra ecosystem crash and the community decides what the next steps should be, the CEO of a validator runner in South Korea thinks the old Terra chain should be shut down permanently. Jiyun Kim, CEO of blockchain solutions company DSRV, wrote an opinion post on his own behalf, detailing how the Terra team tip-toed around the idea of halting block production while Terra (LUNA) prices crashed and its TerraUSD (UST) stablecoin was depegged. He now urges validators in the Terra ecosystem to reject a hard fork in favor of a brand new community-driven blockchain. …

Monero (XMR) has shown a surprising resilience against the United States Federal Reserve’s hawkish policies that pushed the prices of most of its crypto rivals — including the top dog Bitcoin (BTC) — lower last week. XMR price closed the previous week 2.37% higher at $217, data from Binance shows. In comparison, BTC, which typically influences the broader crypto market, finished the week down 11.55%. The second-largest crypto, Ether (ETH), also plunged 11% in the same period. While the crypto market wiped off $163.25 billion from its valuation last week, down nearly 9%, Monero’s market cap increased by $87.7 million, …

Monero (XMR) price dropped by nearly 10% three days after establishing a week-to-date high of around $290 on April 24. Nonetheless, several technical indicators suggest that the XMR/USD pair is poised to resume its uptrend over the next few months. Falling wedge breakout underway Notably, XMR’s price broke out of its “falling wedge” structure in late March. It continued its move upside in the later daily sessions, with rising volumes indicating bullish sentiment among Monero traders. Traditional analysts consider falling wedges as bullish reversal patterns, or the price first consolidates within a contracting descending channel, followed by a strong bounce …

As told by Monero (XMR) developers over the weekend, on July 16, the Monero network passed a community consensus to initiate a mainnet hard fork at block height 2,668,888. The popular privacy coin's hard fork will include increasing the chain's ring size from 11 to 16, adding view tags to outputs to reduce wallet scanning time, introducing bulletproofs and implementing fee changes. Raising the number of ring signatures is meant to ensure that transactions have a larger anonymity set, making it harder to reverse engineer the sources of a transaction. One developer pointed out that view tags could reduce network …

Cardano’s (ADA) price risks undergoing a severe correction in the next few months despite touting its blockchain network’s bolstering growth and a “major” hard fork event in June. Descending channel hints at ADA sell-off ahead ADA, which makes up about 1.75% of the total crypto market capitalization, has been trending lower since September 2021 inside a “descending channel” pattern that has successfully capped its multiple upside attempts, as illustrated in the chart below. The channel showed further strength as ADA broke above its upper trendline on March 27 only to reverse entirely in later sessions, showing a lack of conviction …

While 2021 did provide some sort of respite for investors operating across the global crypto landscape, it was still largely been driven by fears that first reared their ugly heads back in 2020. From rising inflation rates to another wave of coronavirus-related outbreaks, the ground beneath everyone’s feet continued to move even without them knowing. For example, while everyone assumed that Bitcoin (BTC) would hit a price target of $100,000 quite easily — including many traditional financial institutions — by the turn of the new year, the flagship crypto continued to showcase a high degree of volatility despite having touched …

2021 has proven to be a fortuitous year for the world’s second-biggest cryptocurrency Ether (ETH), which has seen a fourfold increase in value over the past 12 months. In doing so, Ether has outperformed the appreciation of the preeminent Bitcoin and has gained an increased percentage of the overall cryptocurrency market by capitalization. While the wider cryptocurrency markets have enjoyed a year of relative gains, ETH’s increase in value has been in tandem with upgrades to Ethereum’s core protocol, laying down the final pillars for its transition to a proof-of-stake consensus protocol in 2022. Certain Ethereum Improvement Proposals (EIP) have …

Cryptocurrency exchange Coinbase has added a mirrored version of the Ethereum blockchain's native token Ether (ETH) to its crypto price index, just ahead of a key network upgrade on Dec. 10. Dubbed "ETH2," the symbol appeared to have been tracking the original Ether market data synchronously. For instance, the cost to purchase ETH2 came out to be the same as that for ETH. Meanwhile, their market capitalization, volume, circulating supply, and price changes were also identical. Coinbase is already promoting eth2 as a new coin? pic.twitter.com/C67UxooLU0 — Nuno (@nvcoelho) December 6, 2021 Nonetheless, unlike the original, the ETH2 token had …

The Ethereum community has been hard at work over the past few years, laying the foundation for its shift away from its current proof-of-work (PoW) algorithm which has formed the backbone of the blockchain’s operation up until today. Ethereum’s switch to its proof-of-stake- (PoS-) powered Ethereum 2.0 chain is edging closer to reality, with recent updates to its blockchain resulting in the issuance of Ether (ETH) becoming deflationary. Recent upgrades have resulted in deflationary issuance of ETH, where the burning of a portion of transaction fees has surpassed the issuance of new ETH through mining. Some in the industry didn’t …

Blockchain platform Algorand has today announced the launch of the Algorand Virtual Machine, or AVM, a layer-1 protocol upgrade designed to enhance decentralized app scalability for developers and organizations, enable instant transaction finality and sustain a negative carbon output. In addition to these advancements, the AVM will also give developers program tools to write smart contracts in Python or Reach, a format similar to the multi-paradigm web page language Javascript. Cointelegraph reached out to Algorand's Chief Product Officer, Paul Riegle for his perspective on upgrade: This AVM upgrade allows for the development of complex smart contract based applications in DeFi, …

The Ethereum network’s long-planned upgrade to a scalable, proof-of-stake consensus model grows closer as developers set a date for the Altair upgrade. Altair, which is described as the first mainnet upgrade to the Beacon Chain, is scheduled to take place at epoch 74240, or roughly Oct. 27, according to Ethereum Foundation researcher Danny Ryan. Ryan described the technical upgrade as follows: “This upgrade brings light-client support to the core consensus, cleans up beacon state incentive accounting, fixes some issues with validator incentives and steps up the punitive params as per EIP-2982.” EIP-2982 introduces “punitive parameters” to ensure that the proof-of-stake …