Lưu trữ cho từ khóa: GAS Fee

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SKALE Labs and Moxy partner to bring gasless technology to reward-based gaming

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SKALE Labs and Moxy, an esports and gamification platform, are partnering to reshape the gaming industry.

According to SKALE Labs, the collaboration marks a key milestone in bridging web2 and web3 gaming.

SKALE is a blockchain network that allows for scalable and user-centric decentralized applications across gaming, artificial intelligence, and other dApps. These applications leverage SKALE’s gas-free and fully Ethereum (ETH) virtual machine-compatible network to accelerate mass adoption.

With SKALE’s gasless blockchain going live on Moxy, the gaming space is set for transformation, changing how gamers earn rewards.

“By eliminating gas fees and harnessing SKALE’s high throughput infrastructure, we are setting a new standard for how gamers can earn rewards through gamification. We now have the potential to bridge the gap between casual and competitive gaming experiences, creating a seamless and rewarding experience for all users.”

Nolan Bushnell, co-founder of Moxy.

The platform recently bumped up its network’s speed and efficiency, with Pacifica V3 enhancing block mining speed and transaction throughput by 108% and 122% respectively. Moxy will leverage these network improvements to save up to $3.5 million in transaction fees for its users annually, according to the announcement.

Advancing web3 gaming

Moxy’s integration on the SKALE Network will enhance player engagement and improve reward and loyalty programs for games on the platform.

The partnership with SKALE adds to Moxy’s growing alliance and integration with key ecosystem players.

Recently, it teamed up with web3 rewards platform Metadomo to bring real world rewards to its gamers.  A partnership with in-game monetization app Overwolf has also added to its appeal to gamers eyeing competitive gaming and real rewards.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Altcoin

Ethereum gas fees drop to all-time low amid declining whale activity

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Ethereum’s gas prices and whale activity have declined as its price dropped below the $2,600 mark.

According to an X post by CryptoQuant, the daily mean gas price on the Ethereum (ETH) network plunged to an all-time low of 2.9 Gwei, worth around $0.026, on Aug. 18. The average ETH gas price recorded a mild hike and is currently sitting at 3 Gwei.

Data shows that only 115 ETH, worth around $300,000, were burned as gas prices hit an ATL. ETH’s price consolidated around the $2,600 mark amid market-wide uncertainty.

One of the main reasons behind the steep decline in the price of Ethereum gas is the Dencun upgrade, which was launched in March of this year. Dencun allowed layer 2 networks to execute their data blobs on the Ethereum mainnet, causing a significant fee drop.

However, the CryptoQuant analyst claims that the declining network fees could potentially cause long-term problems such as “user and liquidity fragmentation.” 

The analyst pointed out that the ETH supply has increased by 197,000 tokens while the price plunged 35% despite the approval of the long-awaited spot ETH exchange-traded funds in the U.S.

Ethereum’s whale activity has also been declining alongside its fees. According to data from Santiment, the number of whale transactions consisting of at least $100,000 worth of ETH has consistently fallen over the past week — dropping from 5,371 on Aug. 12 to 2,138 unique transactions at the time of reporting.

ETH price and whale activity – Aug. 19 | Source: Santiment

ETH is down by 3% in the past 24 hours and is trading at $2,580 at the time of writing. Its daily trading volume, however, increased by 32%, surpassing the $10 billion mark.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

DeFi

Gas abstraction layer Zyfi closes $2m private funding round

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ZkSync-based Zyfi received financial backing to bootstrap paymaster services across the Ethereum ecosystem.

Gas abstraction layer Zyfi raised million in a private funding round to bootstrap native account abstraction on zkSync and, by extension, the larger decentralized finance (defi) landscape. 

Although blockchain and crypto adoption has advanced in recent years, tools like self-custodial wallets such as MetaMask and executing on-chain transactions remain tricky to some. 

A major roadblock to defi activities is gas, the fee users pay to miners or validators for confirming transactions. Zyfi plans to deploy capital from investors toward solving this problem by simplifying gas options across protocols and solutions. 

Zyfi’s account abstraction thesis

The zkSync-powered layer allows users to pay gas in Ethereum (ETH) or any ERC-20 token, creating a generalized answer to the gas conundrum. Zyfi achieves this by leveraging native account abstraction.

Ethereum’s co-founder Vitalik Buterin has touted account abstraction as the next step for driving adoption and seamlessly onboarding more Web3 users. 

Standard wallet addresses, otherwise known as Externally Owned Accounts (EOAs), have limited functionality. As Buterin and other developers have explained, account abstraction removes this limitation, and enables EOAs to operate like smart contracts. 

The unlocked features mean users have greater flexibility and can do more with their wallets, like customizing gay payments, spending limits, and social recovery. 

According to a Dune Analytics dashboard, Zyfi has already deployed this technology for nearly one million transactions and for more than 110,000 users on zkSync. Zyfi founder Gauthier Vila said the investments will help ensure that “developers can concentrate on enhancing their products” for end-users. 

Firms like Everstake Capital, Tenzor Capital, Apvc.capital, Criterionvc, NxGen, Majinx Capital, v3ntures, and Momentum8, to name a few, participated in the private fundraiser.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News