Welcome to the Post-Merge Era

Welcome to the Post-Merge Era
Photo by Choong Deng Xiang / Unsplash

After a long long wait, the Ethereum Merge is finally done, opening a new era for the second-biggest blockchain network. The merge finally kicked in as per the schedule on 15th September at 6:43 am UTC.

The celebration and mood with the successful merge on CT felt a lot like your country has just won the football/cricket world cup. As the clock counted down to the difficulty rate at which the merge was supposed to be executed, more than 41,000 people were tuned in on YouTube to an "Ethereum Mainnet Merge Viewing Party."

We all held our breath as key metrics trickled in suggesting that Ethereum's core systems had remained intact. After about 15 long minutes the Merge was officially finalized, meaning it could be declared a success.

Happy merge to everyone!

This week in Web3 Wednesday:

  • Coinbase’s ENS integration goes live
  • Trad finance giants Citadel Securities, Fidelity, and others to start a crypto exchange EDX
  • A16Z publishes Zero Knowledge Canon
  • DeFi platform Indefibank is in process of creating a Ruble-pegged ETH-collateralized stablecoin
  • This week’s airdrop – Rebus

Coinbase’s ENS integration goes live

Coinbase‘s Ethereum Name Service (ENS) integration is live now allowing Coinbase users to change wallet usernames to an ENS subdomain of Coinbase IDs.

Users can change their ENS names once a year and use them in any manner they choose to, as long as it complies with Coinbase’s Subdomain Terms — which are yet to be announced.

Trad finance giants Citadel Securities, Fidelity, and others to start a crypto exchange EDX

The institutional and mass adoption of crypto has been on rise ever since the start of 2021 regardless of the market sentiments. This time, some of the big names among traditional finance giants such as Schwab, Citadel Securities, Fidelity, and other Wall Street firms have joined hands to start a crypto exchange.

The exchange will be called EDX Markets and will be led by Jamil Nazarali, a former senior executive at trading giant Citadel Securities. Some other high-profile EDX backers include trading firm Virtu Financial (VIRT) and venture-capital firms Sequoia Capital and Paradigm.

A16Z publishes Zero Knowledge Canon

a16z crypto has had a long series of “canons”, from the original Crypto Canon to DAO Canon last year to NFT Canon earlier. Now, the VC firm has culled a set of resources for those seeking to understand, go deeper, and build with all things zero knowledge.

In these last couple of years, we’re witnessing a massive rise in developments of applications and use-cases for zk-proofs. Therefore it wouldn’t be wrong to say that there’s never been a better time to learn and get into zero-knowledge cryptography.

Whether you consider yourself to be at level zero, a chad, or somewhere in between, this zero-knowledge canon is the goldmine of all the zk resources. The zk cannon is available on the a16z website.

DeFi platform Indefibank is in process of creating a Ruble-pegged ETH-collateralized stablecoin

In an attempt to make international payment settlements easier, a Russian DeFi platform is creating a ‘cryptoruble’ token that will be pegged to the national fiat but independent from a state-issued digital ruble.

As quoted by crypto news outlet Forklog, “The platform’s plan is to issue the token through a decentralized smart contract with excess collateral, or based on the model employed by the DAI stablecoin, the executive explained. Its exchange rate with the Russian ruble will be 1:1.”

Now, the question arises how the US will respond to this. Crypto Twitter (CT) seems to believe that the US might apply whatever enforcement mechanisms make sense to them, up to and excluding interfering with the neutrality of the Ethereum protocol. What do you think dear anon?

This week’s airdrop – Rebus

Rebus, a DeFi platform, and an app-chain in the Cosmos ecosystem has unveiled its airdrop for its token $REBUS. Those who have staked $Atom, $Evmos, or $Osmo on July 14th or before are eligible for the airdrop.

To check for eligibility and claim the airdrop, follow these steps:

  1. Open: http://app.rebuschain.com/airdrop
  2. Follow the missions to complete all {You can only stake and vote at this stage}
  3. Get your $REBUS