🚀 Walrus Becomes Independent PoS Network With Native Token Governance
#walrus #proof_of_stake #pos #decentralized_storage #native_token #governance #blockchain #data_availability
According to Foresight News, the decentralized storage and data availability protocol Walrus has announced via a tweet that it will officially become an independent Proof-of-Stake (PoS) network. This transition will involve governance and incentives being managed by its native token, WAL.
Previously, Foresight News reported that in June, Sui development company Mysten Labs announced the launch of Walrus. The protocol is designed for blockchain applications and autonomous agents.#walrus #proof_of_stake #pos #decentralized_storage #native_token #governance #blockchain #data_availability
🚀 California Wildfires Devastate Homes And Impact Crypto Community
#CaliforniaWildfires #KevinRose #Moonbirds #PROOF #CryptoCommunity #NFTs #Evacuation #WildfireImpact #CelebrityHomes #YugaLabs
According to PANews, the Los Angeles home of Kevin Rose, founder of Moonbirds and PROOF, was completely destroyed in the recent California wildfires. Rose shared images of the devastation on social media, expressing his loss of everything.
The wildfires have destroyed approximately 10,000 structures, resulted in at least 10 fatalities, and forced around 180,000 people to evacuate. Among those affected are celebrities like Mel Gibson and Paris Hilton, whose homes also suffered damage. The fires have posed a threat to several cryptocurrency companies and their employees, with some crypto enthusiasts losing funds due to the loss of wallets and credentials.
Kevin Rose founded PROOF in 2021 and sold it to Yuga Labs last year. Previously, he suffered a loss of about $2 million in NFT collections due to a social engineering attack.#CaliforniaWildfires #KevinRose #Moonbirds #PROOF #CryptoCommunity #NFTs #Evacuation #WildfireImpact #CelebrityHomes #YugaLabs
🚀 Polygon Heimdall V2 Mainnet Restored After Consensus Bug Disruption
#Polygon #HeimdallV2 #mainnet #consensusbug #blockchain #proof-of-stake #Bor #networkuptime #RPCproviders #CosmosSDK #CometBFT #upgrade #networkperformance #decentralization
According to Cointelegraph, the Polygon Heimdall V2 mainnet, a crucial component of the Polygon proof-of-stake chain, experienced a temporary outage on Wednesday due to a suspected consensus bug. The issue, which affected the communication between node validators, was resolved within an hour. Despite the disruption, the Bor layer, responsible for block production and transaction processing, remained unaffected. Polygon representatives confirmed that the outage was triggered by an unidentified validator's exit from the network.
During the downtime, block production on the Bor mainnet continued uninterrupted, and any discrepancies in network uptime and block explorer data are being addressed. Polygon is actively working with RPC providers to resolve sync inconsistencies that emerged following Heimdall's recovery. One provider has already resumed operations, albeit with a slight delay in synchronization. The incident underscores the importance of consistent network uptime for blockchain networks, which aim to offer a reliable alternative to traditional financial systems.
The Heimdall V2 upgrade, launched in early July, aimed to enhance the network's performance by reducing finality times to approximately five seconds and updating the tech stack with CometBFT and Cosmos-SDK v0.50. This upgrade is considered the most technically complex hard fork since Polygon's launch in 2020, according to Polygon co-founder Sandeep Nailwal. While the upgrade has improved block times and network throughput, it has also introduced additional complexity and potential points of failure.
Previously, the Heimdall V1 layer was also a source of network downtime. In March 2022, Polygon faced several hours of downtime due to a software bug in the Heimdall layer, which caused validators to operate on different blockchain versions. The ongoing efforts to enhance network performance highlight the challenges blockchain networks face as they strive to maintain uptime amid increasing complexity.#Polygon #HeimdallV2 #mainnet #consensusbug #blockchain #proof-of-stake #Bor #networkuptime #RPCproviders #CosmosSDK #CometBFT #upgrade #networkperformance #decentralization
🚀 Bitwise Updates Avalanche ETF Application with Competitive Fee Structure
#Bitwise #Avalanche #ETF #BAVA #SEC #sponsorshipfee #AVAX #staking #proof-of-stake #Grayscale #VanEck #crypto #investing #fees
According to PANews, Bitwise has updated its application for a spot Avalanche ETF with the U.S. Securities and Exchange Commission (SEC). The revised application changes the ETF's ticker to BAVA and sets the sponsorship fee rate at 0.34%, the lowest among similar products. In comparison, VanEck's Avalanche ETF charges a fee of 0.40%, while Grayscale's is 0.50%.
The updated S-1 filing also indicates that the trust will be allowed to stake up to 70% of its AVAX holdings on Avalanche's proof-of-stake network to earn additional tokens. However, the issuer plans to deduct 12% of the staking rewards as fees, with the remainder distributed to shareholders. Currently, competitors have not engaged in staking activities, limiting their fees to sponsorship charges.
Bitwise is also offering a full fee waiver for the first $500 million in assets during the initial month, aiming to position BAVA as the most cost-effective option for traditional investors seeking exposure to Avalanche and staking income.#Bitwise #Avalanche #ETF #BAVA #SEC #sponsorshipfee #AVAX #staking #proof-of-stake #Grayscale #VanEck #crypto #investing #fees
🚀 🔥 Binance Reports 2025 Achievements and Plans to Convert $100 Million SAFU Fund to Bitcoin 🔥
#Binance #crypto #SAFU #Bitcoin #riskmanagement #compliance #ecosystemdevelopment #cryptoassets #scamprevention #blockchain #lawenforcement #proof-of-reserves #cryptocurrency #BTC
Binance published an open letter to the crypto community on Binance Blog, and announced that market volatility and pressures have impacted the company alongside the broader industry, reflecting the increasing complexity of the crypto ecosystem and rising demands for governance, risk management, and accountability. Throughout 2025, Binance focused on risk control, compliance cooperation, and ecosystem development: assisting users in recovering 38,648 incorrect deposits totaling $48 million, with cumulative recoveries exceeding $1.09 billion; helping 5.4 million users identify potential risks and preventing approximately $6.69 billion in scam-related losses; collaborating with global law enforcement agencies to confiscate $131 million in illicit funds. Binance’s spot listing program covered 21 public blockchains, including 13 newly launched chains spanning payment, gaming, social, and other use cases. By the end of 2025, Binance’s proof-of-reserves demonstrated full backing of user assets totaling approximately $162.8 billion across 45 crypto assets. Binance remains committed to responding to market concerns through concrete actions and promoting sustainable industry growth. The company also announced plans to convert its $100 million SAFU fund stablecoin reserves into Bitcoin within 30 days of the announcement, with a rebalancing mechanism to maintain the fund’s value above $80 million amid Bitcoin price fluctuations. Binance will continue to uphold transparency, openness, and long-term commitment to advancing the crypto industry.#Binance #crypto #SAFU #Bitcoin #riskmanagement #compliance #ecosystemdevelopment #cryptoassets #scamprevention #blockchain #lawenforcement #proof-of-reserves #cryptocurrency #BTC
🚀 Ethereum Targets Glamsterdam and Hegota in 2026 After Major Upgrades
#Ethereum #Glamsterdam #Hegota #2026 #Dencun #Pectra #Fusaka #proof_of_stake #layer2 #staking #rollup #network_upgrade #ETH
Ethereum has undergone five significant upgrades since transitioning to a proof-of-stake model in 2022. According to NS3.AI, these upgrades have focused on enhancing various aspects of the network. The Dencun upgrade has successfully reduced layer-2 costs, while the Pectra and Fusaka upgrades have expanded staking and rollup data capacity. Looking ahead, Ethereum is aiming for further advancements with Glamsterdam and Hegota set for 2026.#Ethereum #Glamsterdam #Hegota #2026 #Dencun #Pectra #Fusaka #proof_of_stake #layer2 #staking #rollup #network_upgrade #ETH