Ethereum News by Thebittimes.Com

The Nitro upgrade for Ethereum layer-2 scaling solution Arbitrum is slated to take place on Wednesday, August 31. Arbitrum shared updates regarding the forthcoming upgrade in a Twitter post late last night.  Arbitrum Announces Nitro Launch Date The Ethereum-based scaling solution employs L2 structure, optimistic rollups to process transactions outside the Ethereum mainnet. Arbitrum completes operations in large batches off-chain before delivering them on Ethereum. With Nitro, however, the network should raise its transaction throughput and cut down transaction fees. Reminder — Arbitrum One is upgrading to Nitro on Wednesday 8/31. There will be 2-4 hours of planned network downtime, starting 10:30 AM ET / GMT-4. days until Nitro! — Arbitrum (@arbitrum) August 29, 2022 The Nitro upgrade will also smoothen cross-chain interaction between Arbitrum and Ethereum. Arbitrum again confirmed the date for the launch on its official Twitter account as August 31. KYC ...

Source: Erich Sacco/Adobe Brazil’s government will look to tighten its policing of the nation’s crypto sector. It has created a “working group” composed of top lawyers and prosecutors who have been tasked with drafting proposals for legal reform. In an official announcement, the Public Ministry’s policy-making National Council stated that it would be working on the project in conjunction with the Commission for the Defense of Administrative Probity – Brazil’s anti-corruption bureau. The ministry stated that the working group would focus on the “regulation of operations involving cryptocurrencies.” The group will be charged with producing a comprehensive report on proposed legislation and “good [legal] practices” in the crypto sector. The report will be submitted in a year’s time. The group will comprise the Amazonas-based lawyer Thiago Augusto Bueno, who has previously published work on Bitcoin (...

ADA, the native token of the Cardano blockchain, was last trading around 1.5% higher on Wednesday according to TradingView. Cardano’s native token is higher in tandem with a broad rally across crypto markets, which comes despite a more tentative feel to broader macro trade ahead of upcoming risk events. The cryptocurrency was last changing hands in the mid-$0.31s, meaning it now trades back in the green on the week and is up a little over 6% versus the fresh annual lows it hit under $0.30 last week. ADA/USD sees modest gains. Source: TradingView Cardano Native Tokens Hit 7 Million Mark In terms of the Cardano block chain ’s underlying fundamentals, the trends remain strong. A few days ago, the number of native tokens deployed on to the world’s sixth-largest block chain by market capitalization surpassed the 7 million mark for the first time. https://twitter.com/cryptorecruitr/status/1596669749462986757 The rate at which new tokens are being issued ...

Game7, a blockchain gaming-focused DAO (decentralized autonomous organization) has announced the launch of a $100 million grants program. The objective of this grants program is to support the Web3 gaming community in these times of market downturn and to advance the adoption of blockchain gaming on several chains. Game7 to Support Blockchain Gaming With $100 Million Game7, a Web3 gaming-dedicated project which has already supported projects on different chains including Arbitrum, Polygon, Immutable X, and Solana, has announced the launch of a $100 million grants program to support Web3 gaming companies. The chain-agnostic project announced that the objective of this move is to offer support to these initiatives to push the Web3 gaming ecosystem forward even in unfavorable times for the crypto industry. The organization, which is a DAO supported by Bitdao and Forte, aims to distribute these funds over the next five years to the best projects presenting their initiatives. The grants ...

Sellers’ momentum is increasing in Aave market Aave (AAVE) Price Analysis – 30 November An upward movement may move the Aave above $65, and a further bullish movement is expected to the resistance level of $77 which will expose the coin to the resistance level of $94. Alternatively, the key support levels to watch out for lie at $56, $47, and $35 AAVE/USD Market Key Levels: Resistance levels: $65, $77, $94 Support levels: $56, $47, $35 AAVEUSD Long-term Trend: Bullish Aave is bullish in the daily chart.  The bearish movement that commenced on 17 August landed the price at the low level of $56 support level. The bears lose their momentum and this makes it difficult to break down the mentioned support level. The buyers equally find it difficult to break up the resistance level of $65, thus, the price was consolidating within the $65 and $56 levels last week. Today it seems the bulls are gaining more strength and the price is increasing gradually. The daily chart...

Crypto exchange Kraken has settled with the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) over its apparent violations of sanctions against Iran. The cryptocurrency exchange has agreed to remit $362,159 to settle its potential civil liability and invest an additional $100,000 in certain sanctions compliance controls. Kraken Settles With OFAC The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced Monday a settlement with Payward Inc. (d/b/a Kraken), a Delaware-incorporated crypto exchange. The announcement states: Kraken agreed to remit $362,158.70 to settle its potential civil liability for apparent violations of sanctions against Iran … As part of its settlement with OFAC, Kraken also has agreed to invest an additional $100,000 in certain sanctions compliance controls. According to the Treasury Department, between approximately Oct. 14, 2015, and June 29, 2019, “Kraken processed 826 transactions, totaling appr...

Join Our Telegram channel to stay up to date on breaking news coverage When it comes to the most-known cryptocurrency in Australia, Bitcoin comes out on the top. Or at least the recent survey by the Independent Reserve Cryptocurrency Index (IRCI) examining the recognition of cryptocurrencies says so.   Not only did the survey record Bitcoin awareness, but along with that it also put light on Bitcoin’s ownership, growth in the acceptance of the cryptocurrency relative to the demographic and the sentiment around Bitcoin in the nation.   Here’s everything you need to know about the survey: IRCI Survey Reports Increased Bitcoin Awareness   IRCI conducted a survey involving 2000 Australians, out of which 92% reported that they have heard of “at least one crypto”. Among all the cryptocurrencies that Australians were familiar with, Bitcoin accounted for a whopping 90.80%, meaning, almost everyone who has heard of cryptocurrencies has heard abou...