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Ethereum gas consumption has plummeted 99.99% since The Merge, transforming the network into a more environmentally friendly platform. One year after the major upgrade, The Merge, which marked the transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS) consensus, Ethereum has achieved certain improvements, including a record drop in gas consumption. According to data from Glassnode Alerts, Ethereum’s daily energy consumption has been down 99.9% post-Merge. Additionally, gas fee pressure on the Ethereum network has eased despite the recent SocialFi hype. In the past, gas fees on the Ethereum network were inclined to explode due to increased network activities. This gas fee optimization could result from Layer-2 scaling solutions’ development, one of the remarkable progresses this year. However, most arguments point to the fact that the poor performance of NFT , and meme trend’s losing steam have decreased the demand for gas usage over the past few weeks. Ethereum consequently t...

Coinbase’s CEO, Brian Armstrong, has recently announced the upcoming plan to offer Lightning Network to empower Bitcoin transactions. According to Armstrong’s tweet, Coinbase’s team had been working on this solution to “enable faster/cheaper Bitcoin transactions.” A complete integration is expected to come soon. Coinbase’s adoption of the Lightning Network enables faster and cheaper Bitcoin transactions, making it more practical for everyday use. The move received strong support from many industry members and figures, including Michael Saylor. Saylor praised it as an excellent decision, asserting that Lightning Network will “revolutionize Bitcoin transactions and deliver the power of the bitcoin network to billions of people worldwide.” He also predicted an inevitable adoption of the protocol within the crypto sector in the future. Coinbase Introduces Lightning Network Integration Michael Saylor, a prominent Bitcoin advocate and co-founder of MicroStrategy, previously confirme...

SINGAPORE, SINGAPORE, September 14th, 2023, Chainwire McLaren Racing and OKX , a leading Web3 technology company and Official Primary Partner of the McLaren Formula 1 Team, today revealed a limited-edition Stealth Mode livery design to be carried on the McLaren MCL60 F1 cars at the 2023 Singapore Grand Prix (15-17 September) and the 2023 Japanese Grand Prix (22-24 September). The Stealth Mode livery was co-designed by OKX and McLaren, and will switch McLaren’s livery colourway, augmenting black against the team’s classic papaya trim. The sleek and understated design represents the two brands’ belief in putting in hard work behind the scenes to strive for excellence, while embracing change and innovation. The MCL60 was revealed in Stealth Mode on Wednesday 13 September at an exclusive media event in Singapore at Lantern, Fullerton Bay Hotel. The event was attended by OKX Chief Marketing Officer Haider Rafique, McLaren F1 Team drivers Lando Norris and Oscar Piastri, and McLaren Raci...

As the list of Web3 players is growing, the Kresus crypto SuperApp has extended its crypto cash-out service, allowing users to off-ramp at 0% fees when they withdraw USDC through integrating with Coinflow Labs. On- and off-ramp processes are one of the weak links connecting the crypto economy to the broader financial system. Thus, enhancing and extending them is seen as critical in making Web3 mass market. The ability to choose between a free cashout service or a paid option ensures instant off-ramping, allowing individuals to select a solution that meets their needs. With more connections between crypto and fiat, adoption will grow! Mass Adoption is Coming When trying to convert digital assets into flat currency, cryptocurrency holders are usually faced with high fees, slow processing times, and low withdrawal limits. Kresus is implementing no network fee off-ramping for USDC. Users can now convert crypto that resides on multiple chains, such as Polygon, Solana, and Ethereum, i...

PayPal’s cash-out option, available on wallets, DApps, and NFT marketplaces, debuted on MetaMask. PayPal rolled out its new off-ramp service to simplify Web3 payment transactions , and thus make digital assets more accessible to customers. According to the company’s press release, PayPal’s off-ramp feature allows Web3 merchants, like wallets, dApps, and NFT marketplaces , to expand their customer base with easy integration while taking advantage of PayPal’s security standards and tools. PayPal Introduces Off-Ramp Payment Solution The new offering enables users to convert cryptocurrencies from supported wallets to the US dollar. Users can easily shop, send, hold, or transfer funds to their bank account or debit card. PayPal currently supports MetaMask, Ledger, Phantom, and Magic wallets. The firm expects to onboard more Web3 partners in the future. The feature also went live on MetaMask on the announcement date. However, it’s only accessible to American users at present. Earlier ...

Oasys, a game-focused blockchain has announced its partnership with KDDI Corp, one of the top three telecom companies in Japan, which will propel the mass adoption of blockchain gaming to new heights. The blockchain-based game development platform has elevated its ecosystem by integrating a range of KDDI’s features. Under this cooperation, the platform has integrated into the “αU market,” an NFT marketplace, and “αU Wallet” provided by KDDI. From now on, Oasys users can offer NFTs in the “αU market”, manage NFTs in the “αU wallet”, transfer, and deposit OAS tokens with “αU Wallet”. Not only that, the integration also gives developers who build on Oasys access to KDDI’s massive user base. Oasys Users Now Have Access to KDDI’s Massive User Base The integration of KDDI’s extensive customer base with Oasys customers is said to enable significant advancements in the widespread adoption of blockchain gaming. On the other hand, the backup and filtering features of αU Wallet can help Oas...

In a rapidly changing world, the way we interact with finance and wealth creation is undergoing a revolution. Amidst this transformative landscape, a decentralized, sustainable, and equitable global economy is emerging as a vision that seeks to redefine financial independence . As the LFi Ecosystem begins to make its moves to empower individuals to take control of their financial freedom, CEO Luiz Góes weighs on the fintech company’s future. LFi’s Future According to Luiz Góes According to Luiz Góes, the LFi ecosystem and its products will be a part of people’s lives in a few years as they create a decentralized, sustainable, and fair global economy. In the near future, LFi is projected to help every individual, regardless of their status, have the opportunity to attain financial freedom , and actively participate in wealth creation. This is a feat that transcends geographical boundaries and challenges traditional financial systems. Watch: LFi Manifesto In this envisioned futu...