The week of 08/08 in brief – The news about Bitcoin and cryptocurrencies is constantly boiling. It can happen that crucial information gets lost in the daily information flow and that you miss important points. This format is there to remedy that. We return to thenews from the past week‘Crypto Weekly to keep you informed about the current situation of cryptocurrencies.
The unmissable corner
For the return of the Unmissable du Coin, what could be better than a tutorial from our dear editorial director Gregory ? This week, he put on his best HackerMan costume to offer you a tutorial on how to deploy a celestia validator node.
THE TECHNICAL OPERATION OF THE CELESTIA NETWORK
Celestia has a very specific architecture. Traditionally, the blockchain design model couples consensus mechanism and transaction execution. One of the approaches aimed at improving the scalability of the latter is based on sharding, that is to say the fragmentation of the data composing the main chain.
With Celestia, the two layers – consensus and execution – are separated. The role of the consensus mechanism is only to ensure that the block data is available. To do this, it uses data availability proofs. The transactions are then executed off-chain: the nodes no longer need to process them to ensure the validity of the blocks.
The nodes randomly sample small portions of the blocks in the chain. It’s quite similar to peer-to-peer file sharing (BitTorrent) where files are split between network nodes.
Once the blockchain is fully sampled, we obtain the famous proofs of availability of said data.
Unlike “traditional” blockchains, Celestia is designed to provide evidence of data availability and consensus, not transaction execution. Celestia therefore relies on a network of light nodes (allowing anyone to deploy a client in minutes) and full archiving and validating nodes (the type of node we will learn to deploy in this article).
Check out the full article to continue the tutorial : How to deploy a Celestia node complete tutorial.
Crypto news in brief
▶ BlackRock goes Bitcoin. Thus, the fund unveiled a trust reserved for its wealthiest clients offering exposure to the king asset of cryptocurrencies.
▶ A new CB to spend your cryptocurrencies. Payment processor Strike has announced the launch of its bank card in partnership with VISA.
▶ Tornado Cash hurt by US Treasury. He accuses the protocol of having allowed the laundering of billions of dollars. Since then, sanctions against Tornado Cash, its developers and users have multiplied.
▶ Tether announces support for Ethereum in Proof of Stake. Thus, the USDT issuer will not support any fork that aims to retain Proof of Work on Ethereum.
▶ Ripple Labs Interested in Celsius Assets. Thus, the company announced that it wanted to know more about Celsius and its assets to “know if any of them could be relevant to our business”.
▶ New week, new technical analysis on the Coin Trading side.
The 5 metrics of the week
➤ September 15it is the date when The Merge update could be deployed on the Ethereum mainnet. This news follows the success of its deployment on the Goerli testnet.
➤ $570,000it is the amount that was stolen from Curve Finance users via an attack on its DNS server. Fortunately, 83% of these funds were able to be intercepted and frozen by Binance.
➤ $1 billionit is TVL (Total Value Locked) of the second layer solution Optimism. This makes it the second hottest L2 after Arbitrum.
➤ 31.82 th/sit’s here hashrate record recorded by the Ethereum Classic network. Thus, it is meeting with renewed interest as the Merge approaches. It remains to be seen whether this will continue following Ethereum’s transition to Proof of Stake.
➤ 79%it’s about the decrease in volume recorded by the Tornado Cash protocol. In turmoil for more than a week, the protocol has seen its number of deposits plummet.
Tweet of the week
Tweet of the week goes to @screentimes and its highlighting of the big problem behind the treatment of Tornado Cash.
Have a nice week on the Journal du Coin! 🙂
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