0
0
Crypto Twitter Abuzz with Exciting Developments
Despite a downturn in crypto prices triggered by concerning inflation data, the denizens of Crypto Twitter found ample reasons for merriment this week. From noteworthy technological advancements to good old-fashioned schadenfreude, the community was abuzz with activity.
Ethereum’s Dencun Upgrade Revolutionizes Transaction Costs
On Wednesday, Ethereum rolled out its highly-anticipated Dencun upgrade, introducing a groundbreaking data storage innovation known as blobs. This novel approach has the potential to significantly reduce transaction expenses across Ethereum’s layer-2 networks, a development that could potentially render gas fees obsolete in the near future.
In the aftermath of the successful implementation of the software update, several Ethereum layer 2 networks witnessed substantial declines in transaction fees. The implementation of Dencun is expected to herald a new era for Ethereum, enabling the seamless storage of diverse data on-chain without constraints related to cost or storage capacity. This week, crypto enthusiasts wasted no time experimenting with this newfound capability.
Dogwifhat (WIF) Community Reaches Fundraising Milestone
Concurrently, members of the thriving Dogwifhat (WIF) meme coin community achieved a significant milestone by raising close to $700,000. This substantial sum was earmarked for displaying the iconic face of their beloved meme coin on the colossal LED display adorning the Sphere, a prominent arena in Las Vegas.
The news of this achievement propelled the value of WIF to unprecedented heights, with its market capitalization surging to $3 billion by Friday. Although a subsequent correction has seen this figure dip to $2.2 billion, WIF currently stands as the fourth largest meme coin globally, trailing only Pepecoin, Shiba Inu, and the original meme token, Dogecoin.
The remarkable feat of the WIF community swiftly raising the necessary funds to showcase their favorite meme on one of the world’s largest screens serves as a striking indication to some observers that a market peak may be imminent.
UK Court Dismisses Craig Wright’s Claims of Being Satoshi Nakamoto
Adding to the week’s jubilant atmosphere, a UK court definitively rejected Craig Wright’s longstanding assertions of being the elusive Bitcoin creator, Satoshi Nakamoto. Despite years of proclaiming himself as the mastermind behind Bitcoin, Wright, an Australian computer scientist, failed to produce the private keys associated with Satoshi’s Bitcoin address.
A decisive ruling from a UK court branded Wright as an imitator of Satoshi Nakamoto on Thursday, a verdict that was met with celebration by many, including Peter McCormack, a podcaster who had previously criticized Wright’s claims as fraudulent. McCormack’s refusal to retract his statements prompted Wright to offer a settlement that was promptly rebuffed.
To commemorate this historic ruling, a 2023 musical composition by Jonathan Mann titled “Craig Wright Is Not Satoshi” resurfaced on Crypto Twitter, further amplifying the communal revelry within the digital asset sphere.
Image/Photo credit: source url
