Weekly news from Kusama & Polkadot & Ethereum #46

1. Ethereum: The Merge hard fork successfully executed

The biggest smart contract platform, Ethereum, has successfully transitioned from PoW to PoS by The Merge hard fork. Let’s take a look at some information and interesting facts:

  • Ethereum has so far been using the energy-intensive Proof of Work (PoW) consensus
  • miners using expensive hardware to solve complex problems in order to get a reward for the block mined
  • in Proof of Stake (PoS) on Ethereum, anyone who locks the 32 ETH (over $40k) required to activate the validation software can be a validator
  • the final step in the transition from PoW to PoS was to migrate the entire history of the current Ethereum PoW blockchain and merge it with the Beacon chain
  • the Merge hard fork is not the end of Ethereum’s evolution, the next big challenge will be sharding, where the network will be split into 64 chains (shards), spreading the load of the network and increasing its throughput and number of transactions per second
  • sharding solution is planned for 2023
  • 99.9% lower energy consumption
  • reduction of global electricity consumption by 0.2%
  • radical reduction in new ETH issuance (up to 500k ETH/year) and inflation (-1.8%)
  • transaction prices will not decrease thanks to the Merge, this was not even its goal, there are still more upgrades to come before Ethereum is developed
Liquid staking of ETH on Bifrost

2. Watr protocol has won the 27th parachain auction on Polkadot

Watr protocol is the winner of the 27th auction on the Polkadot network by earning 125k DOT worth ~$788k. As you can see from the data illustrated by parachains.info, there were a few more projects, that wanted to succeed in this auction.

https://parachains.info/auctions

3. Zeitgeist App for prediction markets is now live

Zeitgeist App finally went live in mid-September, while it already owns a parachain slot on Kusama. Now you can use Zeitgeist prediction markets and bet on popular or any interesting topics.

https://app.zeitgeist.pm/

4. Bifrost launched RainDOT: mint your own vDOT and earn Raindrop points

On September 16th, the third vToken based on the SLP protocol went live at the Bifrost app. From that time, users can now mint derivative token vDOT from the original DOT token. This liquid staking solution ensures users receive seamless liquidity access combined with the staking rewards of the DOT token.

RainDOT Campaign Period:

Open: 16 September 2022

Incentives to Gain Raindrops

  • earn 200 Raindrops for every 1 vDOT minted
  • addresses who have participated in DOT decentralized staking can get 500 Raindrops for free unconditionally
  • after inviting DOT Staking friends to successfully claim 500 Raindrops, the inviter and the invitee will each receive 200 Raindrops

vDOT Minting Multiplier

Multiply your Raindrops by staking DOT from September 13th, 2022. The more you stake, the higher the multiplication level:

BNC Staking Multiplier

Similarly, you can multiply your Raindrops by staking BNC:

  • staking over 100 BNC= 5% multiplier
  • staking over 1000 BNC= 10% multiplier
  • staking over 10000 BNC= 20% multiplier
  • staking over 100000 BNC= 40% multiplier

vDOT Farming

While farming with a single-token lossless farming module, vDOT farming has no impermanent loss risk at all. Users participating in vDOT Farming receive a much higher APR than usual during the RainDOT event. vDOT Farming will last for seven days with a total incentive of up to 15000 BNC.

NFT Whitelist

RainDOT will release 200 Back to Asgard NFT whitelists based on Raindrop rankings. Users who hold the Back to Asgard NFT whitelist can enjoy discounts on NFT incubator purchases. The total number of NFT whitelists is 1000.

https://bifrost.app/dashboard/boost

5. Astar is building a Cross-Virtual Machine (XVM)

Astar Network is building a Cross-Virtual Machine (XVM) to enable development across EVM and WASM smart contracts. With XVM, developers can write in both Solidity and ink! to build new dApps on Astar and Shiden networks.

Astar builds a multichain network with XVM
XVM transaction test

6. Bit.Country Pioneer App is now live: build your own metaverse

Bit.Country Pioneer App is finally live. You can try it now, no login is required, but connecting your Web3 wallet is essential.

https://pioneer.bit.country/

7. Crust Files landing page launched, use your first personal Web3 storage

Crust Files landing page has been launched. You can now login into Crust Files with any Web3 wallets, including Polkadot JS, Wallet Connect, Crust Wallet or Metamask (using Ethereum, Moonriver, Polygon or BSC).

https://crustfiles.io/

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Polkadotters | Kusama & Polkadot validators

Polkadotters | Kusama & Polkadot validators

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Czech bloggers & community builders. We are validators of Polkadot, Kusama, Darwinia, Crab, Bifrost, HydraDX, StaFi, Centrifuge under the name: POLKADOTTERS