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Shibarium’s beta phase saw a total of 21 million wallets on the L2, driving the interest of users months before the launch. Shiba Inu launched the Shibarium mainnet , an Ethereum layer-2 scaling solution, on Aug. 16 after months of testing that saw millions of users participate and 21 million wallets created. Shibarium is built on a new consensus mechanism called proof-of-participation (PoP), which works by selecting validators in proportion to their quantity of holdings in the associated cryptocurrency. This is done to avoid the computational cost of proof-of-work schemes. The new L2 blockchain solution is designed to interact with the primary Ethereum layer-1 blockchain , providing a more scalable and cost-effective transaction platform. Shiba Inu (SHIB) rose to popularity during the bull market of 2020–2021, even briefly overtaking the OG meme cryptocurrency, Dogecoin (DOGE). However, it couldn’t hold onto its gains for long and lost more than 80% of its valuation during the bear ...

Jack Dorsey’s Block has reported a gross profit of $1.87 billion for Q2 2023. The figure represented a 27% increase in revenue year-over-year. Moreover, Block reported that out of the total $5.5 billion revenue in Q2, $2.4 billion came from Bitcoin (BTC). In a letter to shareholders, the company stated that “We delivered strong growth and profitability at scale during the second quarter of 2023.” Also Read: Coinbase & Cash App to Integrate Jack Dorsey’s Bitcoin Self-Custody Wallet Block ’s Cash App boosted gross profit by 37% to $968 million. Meanwhile, Square saw a gross profit of $888 million, marking an 18% increase from the previous year. Block ’s stock earned 39 cents on an adjusted basis in Q2. The figure surpassed analysts’ estimates of 36 cents, as per Refinitiv IBES data. How did Pay Pal perform in Q2? Source: Unsplash On the other hand, Block competitor, Pay Pal, reported disappointing results for Q2, leading to a 7% dip in ...

Bitcoin, the original blockchain, struggles to gain traction among blockchain advocates; an opinion from one of Europe's largest blockchain conferences. Bitcoin (BTC) popularised the term blockchain. Blockchains, or “decentralized and distributed digital ledgers used to record transactions across a network of computers,” have been around for over thirty years, the household name for a blockchain is Bitcoin.  That’s despite the fact that the Genesis block was mined well over 14 years ago when George W. Bush was president and “I Gotta Feeling” by Black Eyed Peas topped the charts–Bitcoin is still top of the blocks. It’s to be expected, then, that most blockchain advocates would have used, understood or a the very least experimented with Bitcoin. Nope. Not so. Speaking with Victoria Gago, co-founder of the European Blockchain Conference. Source: José Val Bal Here’s an example. While MC’ing at the European Blockchain Conference in February, I asked the audience for a show of hands. ...