Everyone knows BitConnect here, but few remember the story of OneCoin

Everyone knows "Hey heeey heeeeey" story of BitConnect but another very interesting (and sad) story is that of the OneCoin scam and it's missing cryptoqueen founder, Ruja Ignatova.

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Onecoin was advertised back then as a better and far more advanced Bitcoin (lol), and it had all the features the king Bitcoin did. It could even be mined, you could transfer money with encryption safely without leaving a trace like Monero later, all using your smartphone which was quite nice back in the day. The brand had member base of over 1.7 million people! Remember, this was in early 2016.

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Ruja Ignatova was the founder and the face of OneCoin. At OneCoin’s first public event in 2016, she hyped everyone saying that Onecoin was a ‘Bitcoin killer’ and people believed. She along with her team of scammers showed to the world how the brand was progressing and expanding. Investors were waiting to make the most of the platform and in 2017. At an event in Lisbon, Ruja was being anticipated by its investors who wanted to discuss these concerns with her...but she never showed up for the event. She became a ghost. Her phone became non-responsive. She wasn’t responding to emails too. It seemed like she was gone from the planet and so was the money.

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What was even more interesting is the fact that when the police investigated OneCoin, they discovered the that the coins weren’t mined! Instead, programmers actually programmed the coin to change their values. They even discovered that it didn’t really have blockchain, meaning the transactions could be easily tracked. In fact, the people running OneCoin were actually allocating fake coins to its members that didn’t really exist, completely taking away people’s hard-earned money. 

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Konstantin Ignatov mentioned in his testemony that Ruja’s last known location was in Bulgaria but he said that he doesn’t have any other information regarding where she could have fled. Further FBI investigations locate her last whereabouts at Athens, as she was thought to have boarded on a Ryanair flight from Sophia but since then nothing.

A few weeks ago a video appeared starring Ruja, but it was apparently a deepfake so the whereabouts of this cryptoqueen scammer are still unknow. Is she alive or dead? Who knows

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Ethereum undergoes most important update of the year, see what changes

Less than 1 week after turning 6 years old, the Ethereum network is getting ready for a very important update, the so-called “London Hard Fork”.

Ethereum as a whole is undergoing a major transition process: the algorithm is migrating from Proof-of-Work (“proof of work”, used by Bitcoin) to Proof-of-Stake (“proof of participation”), which will increase your transaction capacity per second, and possibly lower your high gas fees.

In this process, the next big update is the “London Hard Fork”, scheduled to take place between today (04) and tomorrow (5th).

If you have ETH in your wallet, you don't have to do anything. The update is done automatically.

The name of the city, in this case, London, is inspired by the cities where the network's developer conferences took place.

The update is an improvement to the user experience and, among other improvements, includes EIP-1559, which changes the dynamics of fees paid by users.

Understanding the London Hard Fork better

Today, the ETH is an inflationary currency, with no limits. At each block validation (+-15 seconds), miners are rewarded with newly created coins and transaction fees paid by users.

The protocol update includes 5 Ethereum Improvement Proposals (EIPs), including EIP 1559 and EIP 3554, which aim to:

-double the Ethereum network gas limit, which will increase transaction capacity.

-change the reward to miners.

On this last point, it is worth understanding better how this will be done. The new proposal is that the base rate has a “base” value, which will be automatically adjusted by the protocol, according to network congestion. When the network exceeds the gas per block target, the base rate will increase slightly, and when capacity is below the target it will decrease slightly.

As these base rate changes will be constrained, the maximum difference in base rate from block to block will be predictable.

An important aspect of this fee system is that miners will only be able to receive the block's priority and reward fee, while the base fee will always be burned (i.e. sent to a wallet that no one has access to).

Among other more technical factors, this burning will help to balance Ethereum inflation, and significantly lessen the practice of tax manipulation by miners, who often do so to try to extract more fees from users.

In addition, users will also be able to manually set the maximum transaction fee, which would help them to limit their total costs per transaction.

Conclusion

The London Fork is the starting point for a series of changes to the way miners operate on the Ethereum blockchain.

It is unlikely to turn ETH into a deflationary asset. This should only happen around December 2021, when the network changes its consensus algorithm, leading to a large drop in the ETH emission rate to around 0.4% pa

This 90% emission reduction is compared to 3 BTC halvings, which is where the “triple halving” arises, as seen in the historical and projected ETH emission rate graph below (in the orange line stretch between “1/1 /2021" and "1/1/2022"). It is only after this event that the network is likely to become deflationary.

Apparently, London has been benefiting from the price of ETH in recent weeks. In the last 7 days alone, the price of ETH has already risen by more than 18%, while that of BTC has fallen by around 0.5%.

Please visit us for ethereum token development

https://www.blockchainx.tech/erc20-token-development

Ethereum undergoes most important update of the year, see what changes

Less than 1 week after turning 6 years old, the Ethereum network is getting ready for a very important update, the so-called “London Hard Fork”.

Ethereum as a whole is undergoing a major transition process: the algorithm is migrating from Proof-of-Work (“proof of work”, used by Bitcoin) to Proof-of-Stake (“proof of participation”), which will increase your transaction capacity per second, and possibly lower your high gas fees.

In this process, the next big update is the “London Hard Fork”, scheduled to take place between today (04) and tomorrow (5th).

If you have ETH in your wallet, you don't have to do anything. The update is done automatically.

The name of the city, in this case, London, is inspired by the cities where the network's developer conferences took place.

The update is an improvement to the user experience and, among other improvements, includes EIP-1559, which changes the dynamics of fees paid by users.

Understanding the London Hard Fork better

Today, the ETH is an inflationary currency, with no limits. At each block validation (+-15 seconds), miners are rewarded with newly created coins and transaction fees paid by users.

The protocol update includes 5 Ethereum Improvement Proposals (EIPs), including EIP 1559 and EIP 3554, which aim to:

-double the Ethereum network gas limit, which will increase transaction capacity.

-change the reward to miners.

On this last point, it is worth understanding better how this will be done. The new proposal is that the base rate has a “base” value, which will be automatically adjusted by the protocol, according to network congestion. When the network exceeds the gas per block target, the base rate will increase slightly, and when capacity is below the target it will decrease slightly.

As these base rate changes will be constrained, the maximum difference in base rate from block to block will be predictable.

An important aspect of this fee system is that miners will only be able to receive the block's priority and reward fee, while the base fee will always be burned (i.e. sent to a wallet that no one has access to).

Among other more technical factors, this burning will help to balance Ethereum inflation, and significantly lessen the practice of tax manipulation by miners, who often do so to try to extract more fees from users.

In addition, users will also be able to manually set the maximum transaction fee, which would help them to limit their total costs per transaction.

Conclusion

The London Fork is the starting point for a series of changes to the way miners operate on the Ethereum blockchain.

It is unlikely to turn ETH into a deflationary asset. This should only happen around December 2021, when the network changes its consensus algorithm, leading to a large drop in the ETH emission rate to around 0.4% pa

This 90% emission reduction is compared to 3 BTC halvings, which is where the “triple halving” arises, as seen in the historical and projected ETH emission rate graph below (in the orange line stretch between “1/1 /2021" and "1/1/2022"). It is only after this event that the network is likely to become deflationary.

Apparently, London has been benefiting from the price of ETH in recent weeks. In the last 7 days alone, the price of ETH has already risen by more than 18%, while that of BTC has fallen by around 0.5%.

Please visit our page for ethereum token development

https://www.blockchainx.tech/erc20-token-development

Ethereum undergoes the most important update of the year, see what changes

Less than 1 week after turning 6 years old, the Ethereum network is getting ready for a very important update, the so-called “London Hard Fork”.

Ethereum as a whole is undergoing a major transition process: the algorithm is migrating from Proof-of-Work (“proof of work”, used by Bitcoin) to Proof-of-Stake (“proof of participation”), which will increase your transaction capacity per second, and possibly lower your high gas fees.

In this process, the next big update is the “London Hard Fork”, scheduled to take place between today (04) and tomorrow (5th).

If you have ETH in your wallet, you don't have to do anything. The update is done automatically.

The name of the city, in this case, London, is inspired by the cities where the network's developer conferences took place.

The update is an improvement to the user experience and, among other improvements, includes EIP-1559, which changes the dynamics of fees paid by users.

Understanding the London Hard Fork better

Today, the ETH is an inflationary currency, with no limits. At each block validation (+-15 seconds), miners are rewarded with newly created coins and transaction fees paid by users.

The protocol update includes 5 Ethereum Improvement Proposals (EIPs), including EIP 1559 and EIP 3554, which aim to:

-double the Ethereum network gas limit, which will increase transaction capacity.

-change the reward to miners.

On this last point, it is worth understanding better how this will be done. The new proposal is that the base rate has a “base” value, which will be automatically adjusted by the protocol, according to network congestion. When the network exceeds the gas per block target, the base rate will increase slightly, and when capacity is below the target it will decrease slightly.

As these base rate changes will be constrained, the maximum difference in base rate from block to block will be predictable.

An important aspect of this fee system is that miners will only be able to receive the block's priority and reward fee, while the base fee will always be burned (i.e. sent to a wallet that no one has access to).

Among other more technical factors, this burning will help to balance Ethereum inflation, and significantly lessen the practice of tax manipulation by miners, who often do so to try to extract more fees from users.

In addition, users will also be able to manually set the maximum transaction fee, which would help them to limit their total costs per transaction.

Conclusion

The London Fork is the starting point for a series of changes to the way miners operate on the Ethereum blockchain.

It is unlikely to turn ETH into a deflationary asset. This should only happen around December 2021, when the network changes its consensus algorithm, leading to a large drop in the ETH emission rate to around 0.4% pa

This 90% emission reduction is compared to 3 BTC halvings, which is where the “triple halving” arises, as seen in the historical and projected ETH emission rate graph below (in the orange line stretch between “1/1 /2021" and "1/1/2022"). It is only after this event that the network is likely to become deflationary.

Apparently, London has been benefiting from the price of ETH in recent weeks. In the last 7 days alone, the price of ETH has already risen by more than 18%, while that of BTC has fallen by around 0.5%.

Please visit our page for ethereum token development

https://www.blockchainx.tech/erc20-token-development

Ethereum undergoes the most important update of the year, see what changes

Less than 1 week after turning 6 years old, the Ethereum network is getting ready for a very important update, the so-called “London Hard Fork”.

Ethereum as a whole is undergoing a major transition process: the algorithm is migrating from Proof-of-Work (“proof of work”, used by Bitcoin) to Proof-of-Stake (“proof of participation”), which will increase your transaction capacity per second, and possibly lower your high gas fees.

In this process, the next big update is the “London Hard Fork”, scheduled to take place between today (04) and tomorrow (5th).

If you have ETH in your wallet, you don't have to do anything. The update is done automatically.

The name of the city, in this case, London, is inspired by the cities where the network's developer conferences took place.

The update is an improvement to the user experience and, among other improvements, includes EIP-1559, which changes the dynamics of fees paid by users.

Understanding the London Hard Fork better

Today, the ETH is an inflationary currency, with no limits. At each block validation (+-15 seconds), miners are rewarded with newly created coins and transaction fees paid by users.

The protocol update includes 5 Ethereum Improvement Proposals (EIPs), including EIP 1559 and EIP 3554, which aim to:

-double the Ethereum network gas limit, which will increase transaction capacity.

-change the reward to miners.

On this last point, it is worth understanding better how this will be done. The new proposal is that the base rate has a “base” value, which will be automatically adjusted by the protocol, according to network congestion. When the network exceeds the gas per block target, the base rate will increase slightly, and when capacity is below the target it will decrease slightly.

As these base rate changes will be constrained, the maximum difference in base rate from block to block will be predictable.

An important aspect of this fee system is that miners will only be able to receive the block's priority and reward fee, while the base fee will always be burned (i.e. sent to a wallet that no one has access to).

Among other more technical factors, this burning will help to balance Ethereum inflation, and significantly lessen the practice of tax manipulation by miners, who often do so to try to extract more fees from users.

In addition, users will also be able to manually set the maximum transaction fee, which would help them to limit their total costs per transaction.

Conclusion

The London Fork is the starting point for a series of changes to the way miners operate on the Ethereum blockchain.

It is unlikely to turn ETH into a deflationary asset. This should only happen around December 2021, when the network changes its consensus algorithm, leading to a large drop in the ETH emission rate to around 0.4% pa

This 90% emission reduction is compared to 3 BTC halvings, which is where the “triple halving” arises, as seen in the historical and projected ETH emission rate graph below (in the orange line stretch between “1/1 /2021" and "1/1/2022"). It is only after this event that the network is likely to become deflationary.

Apparently, London has been benefiting from the price of ETH in recent weeks. In the last 7 days alone, the price of ETH has already risen by more than 18%, while that of BTC has fallen by around 0.5%.

Please visit our page for ethereum token development

https://www.blockchainx.tech/erc20-token-development

Ethereum undergoes the most important update of the year, see what changes

Less than 1 week after turning 6 years old, the Ethereum network is getting ready for a very important update, the so-called “London Hard Fork”.

Ethereum as a whole is undergoing a major transition process: the algorithm is migrating from Proof-of-Work (“proof of work”, used by Bitcoin) to Proof-of-Stake (“proof of participation”), which will increase your transaction capacity per second, and possibly lower your high gas fees.

In this process, the next big update is the “London Hard Fork”, scheduled to take place between today (04) and tomorrow (5th).

If you have ETH in your wallet, you don't have to do anything. The update is done automatically.

The name of the city, in this case, London, is inspired by the cities where the network's developer conferences took place.

The update is an improvement to the user experience and, among other improvements, includes EIP-1559, which changes the dynamics of fees paid by users.

Understanding the London Hard Fork better

Today, the ETH is an inflationary currency, with no limits. At each block validation (+-15 seconds), miners are rewarded with newly created coins and transaction fees paid by users.

The protocol update includes 5 Ethereum Improvement Proposals (EIPs), including EIP 1559 and EIP 3554, which aim to:

-double the Ethereum network gas limit, which will increase transaction capacity.

-change the reward to miners.

On this last point, it is worth understanding better how this will be done. The new proposal is that the base rate has a “base” value, which will be automatically adjusted by the protocol, according to network congestion. When the network exceeds the gas per block target, the base rate will increase slightly, and when capacity is below the target it will decrease slightly.

As these base rate changes will be constrained, the maximum difference in base rate from block to block will be predictable.

An important aspect of this fee system is that miners will only be able to receive the block's priority and reward fee, while the base fee will always be burned (i.e. sent to a wallet that no one has access to).

Among other more technical factors, this burning will help to balance Ethereum inflation, and significantly lessen the practice of tax manipulation by miners, who often do so to try to extract more fees from users.

In addition, users will also be able to manually set the maximum transaction fee, which would help them to limit their total costs per transaction.

Conclusion

The London Fork is the starting point for a series of changes to the way miners operate on the Ethereum blockchain.

It is unlikely to turn ETH into a deflationary asset. This should only happen around December 2021, when the network changes its consensus algorithm, leading to a large drop in the ETH emission rate to around 0.4% pa

This 90% emission reduction is compared to 3 BTC halvings, which is where the “triple halving” arises, as seen in the historical and projected ETH emission rate graph below (in the orange line stretch between “1/1 /2021" and "1/1/2022"). It is only after this event that the network is likely to become deflationary.

Apparently, London has been benefiting from the price of ETH in recent weeks. In the last 7 days alone, the price of ETH has already risen by more than 18%, while that of BTC has fallen by around 0.5%.

Please visit our page for ethereum token development

https://www.blockchainx.tech/erc20-token-development