On October 14, the Zilliqa team announced that a community vote approved a plan to halve blockchain miner rewards.

As a result, as part of the plan to move to #proof-of-stake in #Zilliqa 2.0, the network has implemented a mechanism to cut #miner payouts by 50% per month.
In Zilliqa 2.0, the network will fully transition to proof-of-work, and miners will be rewarded for protecting the network. This next milestone will turn Zilliqa into a proof-of-stake (PoS) #blockchain , similar to how Ethereum (ETH) merged.
As we get closer to the platform upgrade, payments to miners will be reduced, which will benefit validators and miners; ZIL miners will switch to staking during this period to support the network.
From September 28 to October 12, GZIL held a vote on the proposal. According to the blog, 97% of those who voted approved the vote, which ended on October 12.
As a result, miners will receive 22.25% of the originally planned incentives in October, 20% in November and 12.5% in December.
According to the Zilliqa team, the additional ZIL tokens received by miners before the halving will be used for other community projects. These include investment funds and incentive systems developed by the community.
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Vitalik Buterin, co-founder of Ethereum, topped Crypto X's "KOL mindshare" chart last week. Blockchain and the Ethereum Foundation have been widely criticized lately.

According to Andy, host of the cryptocurrency show Rollup, who referenced KaitoAI data, Buterin's wartime KOL mindshare had the highest relative KOL mindshare over the past seven days; in second place was Helius Labs CEO Mert Mumtaz with 1.18%. Most recently, Buterin made a lengthy post about X as the #Ethereum Foundation regularly sells Ether.In response to the criticism, Buterin said the sale supports the #proof-of-stake mechanism and funds Ethereum developers and researchers who provide privacy thanks to low fees, transactions in less than 30 seconds, zero-knowledge proof-of-stake, and the fact that the network has been running smoothly since 2016. He explained.He asked his critics:Show respect.Buterin recently began speaking out about X, presumably because of the ongoing FUD against Ethereum. Ether's low price compared to other cryptocurrencies such as #bitcoin and Solan's Tier 2 scaling plan, and the declining revenues backing it up, are major factors in the widespread negative sentiment.Read us at: Compass Investments

#CryptoUpdates #CryptoTrends

Linea has submitted a proposal outlining the steps to transition zkEVM to a permissionless system.

This would include a collaborative proof model that would replace the current Level 2 final decision-making system.
In this system, validators would be required to stake a token and participate in the QBFT consensus algorithm.
Linea, a Consensys-backed Level 2 ZK rollover, last week submitted a proposal detailing the steps required for #decentralization as part of protocol development.
"Towards Linea Decentralization" proposal by Florian #Hook , Linea's software architect, calls for zkEVM to move to a permissionless system and modify the existing block validation, block proposal and finalization process to create decentralized governance. The project includes a high-level structure.
The goal is to allow blocks to reach finalization at levels 2 and 1. In this case, Linea's sequencer would verify the finality of Level 2 blocks, while the finality of Level 1 blocks would be guaranteed when data and proofs from L2 blocks are published to #Ethereum , the proposal said.
Linea participants also proposed replacing the network's current Level 2 #proof-of-stake system with a proof-of-stake block verification model. This would require verifiers to stake tokens and participate in the QBFT consensus algorithm. The proposal states that verifiers who commit fraud will be penalized by, for example, burning a portion of their bids.
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The on-chain auction system will also be introduced, allowing any node to bid for the role. The highest bidder will be able to buy the block, and the bid amount will be burned to reduce the total number of tokens.
The recovery mode will ensure that the system will continue to function even if the validator set is inactive for six months.
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#BlockchainFuture

Vitalik Buterin pointed out the risks of Ethereum's proof-of-stake mechanism.

The #Ethereum co-founder said that these risks neglect the goal of decentralizing the network.
Mr. Vitalik proposed solutions to address these risks. Vitalik Buterin, co-founder of Ethereum, identified potential risks in the #proof-of-stake mechanism of the L1 network and suggested ways to address them.
Buterin announced this in a blog post on October 20, explaining the main goals of The Scourge, a key phase of the Ethereum roadmap. According to Buterin, The Scourge is designed to minimize risks at the Ethereum mining level and mitigate the negative effects of excessive value extraction from users.
Buterin argues that centralization is one of the biggest challenges for the Ethereum network due to economic pressures: the dominance of large stablecoins naturally leads to smaller stablecoins picking from a larger pool to benefit from economies of scale. The company believes that.
This leads to an increased risk of 51% attacks, transaction censorship and other crises, Vitalik writes. In addition to the risk of centralization, there is also the risk of value extraction. A small group can acquire value that would otherwise go to Ethereum users.
The Ethereum co-founder identified two key areas where such risks exist. According to Buterin, large participants can use complex algorithms to extract the maximum extractable value (MEV) per block and earn more revenue than small participants, which can increase the incentive for centralization.
Buterin noted that "very large" participants can also avoid the inconvenience of #blockchain capital by issuing it to other market participants in the form of liquidity tokens (LSTs), shifting the risk to smaller participants.

Watch VanEck's Ethereum target price update:
Read about how an organization recently lost millions of dollars by abandoning Ether:

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#CryptoTrends #MarketInsights

#EOSProject
The EOS Token Project
EOS is a blockchain-based platform that aims to enable the development, hosting, and execution of decentralized applications (dApps) at scale. It was designed to be a high-performance and user-friendly platform for building and deploying blockchain applications.
Key Features of the #eos Platform:
* Scalability: EOS is designed to handle a large number of transactions per second (TPS), making it suitable for high-volume applications.
* Accountability: The platform uses a Delegated #Proof-of-Stake (DPoS) consensus mechanism, which allows token holders to vote for block producers who validate transactions.
* Developer-Friendly: EOS provides a suite of tools and resources for developers to build and deploy dApps, including a software development kit (SDK) and a command-line interface (CLI).
* Free Transactions: Users can perform transactions on the EOS blockchain without paying transaction fees.
The EOS Token (EOS)
The EOS token is the native cryptocurrency of the EOS platform. It serves several purposes:
* Resource Allocation: EOS tokens are used to pay for resources on the network, such as bandwidth and #storage .
* Governance: Token holders can use their EOS tokens to vote for block producers and participate in governance decisions.
* Value Exchange: EOS can be used as a medium of exchange for goods and services.
Challenges and Criticisms
Despite its potential, the EOS project has faced some challenges and criticisms:
* Centralization Concerns: The DPoS consensus mechanism has been criticized for potentially leading to centralization, as a small number of block producers could gain significant control over the network.
* Scalability Issues: While designed for high scalability, the platform has faced scalability issues in practice, particularly under heavy load.
* Governance Challenges: The governance model has been subject to debate and criticism, with some arguing that it is not sufficiently decentralized.
Conclusion
EOS is a promising blockchain platform with the potential to enable the development of a wide range of dApps. However, it also faces challenges and criticisms that need to be addressed. The future of the EOS project will depend on its ability to overcome these challenges and deliver on its promise of a scalable and user-friendly platform for decentralized applications.
Disclaimer: This information is for general knowledge and informational purposes only. It does not constitute financial, investment, or other professional advice. You should consult with a qualified professional for advice on any specific financial matters.

All of you heard about great $600,000 strategic investment from #Orbs Network to #Thena ❗
Very excited news ❗ But what do you know about Orbs Network?
Let's talk about.

Orbs is an open and decentralized blockchain. Picture it as a shared computer network, similar to Ethereum or Bitcoin , where everyone can participate. It uses #proof-of-stake (PoS) consensus and has special validators known as Guardians who oversee the network.

Key Points:
1️⃣ Decentralized Network: Guardians, acting like supervisors, ensure the network's security since 2019.

2️⃣ Proof-of-Stake: Guardians make decisions by staking Orbs tokens in contracts on Ethereum and Polygon. They can also receive additional staking power from the Orbs community.

3️⃣ Secure Elections: Orbs relies on Ethereum's robust security for trustworthy elections. It's the first Proof-of-Stake network not handling its own elections; instead, it leans on Ethereum for support.

In essence, Orbs enables people to collaborate on a Blockchain , leveraging Ethereum's security for fairness and reliability.

Thanks for reading 👍