CandleFocus Singapore TOKEN2049 turns into a Vitalik Buterin concert
2024-09-19
Author: Content Editor
The Ethereum creator, Vitalik Buterin, delivered a speech in the form of a concert at Singapore 2049, highlighting the impact of Ethereum's Layer-2 networks, particularly Optimism and Arbitrum. He emphasized that transaction fees on Layer-2 networks are now essentially zero, down from $10 to $0.50 per transaction, addressing a major barrier to adoption. Buterin also mentioned the improvement in transaction confirmation times after Ethereum's transition to a proof-of-stake network. He urged the crypto community to balance practicality with the industry's core principles and discussed the ongoing competition between Ethereum and Bitcoin, with Bitcoin's dominance at 58%. The article also mentions negative outflows from Ether and a decline in Ethereum's DApp activity, contrasting with increases in Solana and BNB Chain. The price of ETH struggled to breach a key technical level and could potentially fall further or rally if certain thresholds are breached.
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