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Ethereum Name Service plans layer-2 migration

The Ethereum Name Service (ENS) is set to migrate to a Layer 2 solution, aiming to reduce gas fees and enhance transaction speed. This move is designed to address the growing concerns over high costs and slow processing times on the Ethereum network.

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The Ethereum Name Service (ENS) is set to migrate to a Layer 2 solution, aiming to reduce gas fees and enhance transaction speed. This move is designed to address the growing concerns over high costs and slow processing times on the Ethereum network.

ENS, which provides a decentralized naming system for Ethereum addresses, has seen increased adoption but has also faced challenges due to the network’s congestion and high gas fees. By transitioning to a Layer 2 solution, ENS intends to offer a more efficient and cost-effective service for its users.

The migration to Layer 2 is expected to significantly decrease the gas fees associated with ENS transactions, making it more accessible and affordable for a broader range of users. Additionally, the improved speed of transactions will enhance the overall user experience, providing faster and more reliable service.

Nick Johnson, the lead developer of ENS, emphasized the importance of this upgrade. “Migrating to Layer 2 is a critical step for ENS to continue providing a seamless and cost-effective naming service on the Ethereum network. This upgrade will allow us to better serve our growing user base and support the broader Ethereum ecosystem.”

Layer 2 solutions are designed to handle transactions off the main Ethereum chain, reducing the load and associated costs on the mainnet. This migration aligns with the broader trend of Ethereum projects adopting Layer 2 technologies to improve scalability and performance.

The ENS team is working closely with Layer 2 solution providers to ensure a smooth transition. Users can expect detailed guidance on the migration process, ensuring minimal disruption and continued access to their ENS services.

As ENS migrates to Layer 2, the move is expected to set a precedent for other Ethereum-based projects facing similar scalability issues. This strategic upgrade will likely contribute to the continued growth and adoption of decentralized naming services in the blockchain space.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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