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Crypto Extraction
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Patience is essential for Bitcoin holders. ⏳ Delving into history, Satoshi Nakamoto ensured the code was robust enough to support the Bitcoin protocol, releasing the whitepaper on 31 October 2008. 📜 Beyond work progress, there's also a timeline for mining progress, where miners tackle blocks, estimating around ten minutes per block. ⛏️ This mining process requires substantial computational power to discover a nonce that leads to a hash value meeting or falling below the network's adjusted difficulty target. 💻 Lastly, for those aiming to acquire 1 BTC, consider starting small by purchasing satoshis—where 1 BTC equals 100,000,000 Satoshi. However, if possible, buying a whole Bitcoin is a more advantageous route. 🚀 #BitcoinHolders #SatoshiNakamoto #BitcoinMining #Cryptocurrency #BlockchainTechnology

Patience is essential for Bitcoin holders. ⏳

Delving into history, Satoshi Nakamoto ensured the code was robust enough to support the Bitcoin protocol, releasing the whitepaper on 31 October 2008. 📜

Beyond work progress, there's also a timeline for mining progress, where miners tackle blocks, estimating around ten minutes per block. ⛏️

This mining process requires substantial computational power to discover a nonce that leads to a hash value meeting or falling below the network's adjusted difficulty target. 💻

Lastly, for those aiming to acquire 1 BTC, consider starting small by purchasing satoshis—where 1 BTC equals 100,000,000 Satoshi. However, if possible, buying a whole Bitcoin is a more advantageous route. 🚀

#BitcoinHolders #SatoshiNakamoto #BitcoinMining #Cryptocurrency #BlockchainTechnology

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Ethereum is currently the king of crypto in TVL. 👑 Total Value Locked (TVL) refers to the total amount of cryptocurrency assets that are staked, lent, or locked into the smart contracts of decentralized finance (DeFi) protocols and applications on a blockchain network. 🔒 TVL is not the market cap of cryptocurrency. 🚫💰 TVL = total capital deposited (stake, locked, or lend) x price of the assets (not necessarily the native tokens). 📊 For example, if $50 million worth of ETH and $50 million worth of USDT are locked in an Ethereum DeFi lending protocol, the TVL would be $100 million. 💼 While Market cap is measured through Market cap = the amount of coin or token that are circulating x price of the native tokens. 🔄 For example, if a coin has 100 million tokens in circulation at $10 per token, its market cap would be $1 billion. 🎯 Similar to market cap, TVL is commonly measured in US dollars, but other currencies may be used too. 💲 TVL has a function to measure the strength of the financial situation of a DeFi. 💪 DeFi requires capital to run its operations such as loan collateral or as liquidity in trading pools. 💧 The increase of TVL can mean that the liquidity on that blockchain is increasing where more capital is locked and investors might receive higher yields from the staking and vice versa. 🔼 This also means that investors become more confident towards the blockchain as more users are using the blockchain. 📈 There are several factors that might affect DeFi TVL: Capital inflow and liquidity to the DeFi 💸User adoption to use the DeFi 👥Incentives in the form of rewards for staking, lending, and locking the coin or token 🎁Coin or token price and market situation 📉📈Whale activity in the DeFi 🐳DeFi upgrades, security, and hack situations. 🔐 Reference: https://twitter.com/artemis__xyz/status/178067817731004441 #EthereumKing #CryptoTVL #DeFiGrowth #BlockchainLiquidity #StakeEarnYield
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🚀 Ethereum's Dencun upgrade is bringing exciting changes with EIP-4844! 🔥 🤔 Ethereum currently has 2 types of transactions, but EIP-4844 introduces a new type-3 transaction called protodanksharding. 💡 EIP-4844 creates "blobs" - large data packets that can be used by Layer 2 (L2) networks to settle transactions on Ethereum's mainnet. 💰 This helps reduce the high costs associated with posting L2 data through Ethereum's calldata, which L2s currently use. 📦 Each block can have up to 6 blobs, and each type-3 transaction can have 1 or 6 blobs, storing up to 128kb of data. ⏱️ Blobs are only stored for around 18 days, making them cheaper than calldata, which is stored forever. 🧠 EIP-4844 also introduces new transaction and block header fields to manage the blob gas market, similar to EIP-1559. 🤝 This change is expected to substantially reduce posting costs for L2 networks, transforming the market. 🔍 However, L2 operators will need to monitor both the type-2 and type-3 fee mechanisms to determine the most advantageous option. Thus, this Ethereum upgrade will only reduce the fees for layer 2 and not the Ethereum gas fee itself.📈 Reference: IntoTheBlock. (2024, March 11). Ethereum’s Dencun upgrade is set to launch in 2 days! In this chart, you can see the projected cost of a dex swap on various L2s after the upgrade👇 pic.twitter.com/nuymqkro6a. Twitter. https://twitter.com/intotheblock/status/1767222155639460290 Kellerman, B. (2024, February 7). EIP-4844, Blobs, and blob gas: What you need to know. Blocknative. https://www.blocknative.com/blog/eip-4844-blobs-and-blob-gas-what-you-need-to-know #Ethereum #EIP4844 #Dencon #Blobs #LayerTwo #Scaling #Crypto #Blockchain #Web3 #Innovation #TechUpdate #FinTech
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