Ethereum the King of Network Activity, ConsenSys to Contribute Technology in Digital Won Trials
Bitcoin, ConsenSys, Ethereum, South Korea
Bitcoin Slides down the Activity Leaderboard, Ethereum the King of Network.
If transaction fees lead, then Ethereum is the most active public ledger in the world.
At the time of writing on July 20, the Ethereum network had generated $5 million in trading fees to its array of distributed GPU miners.
Meanwhile, although still the most valuable and the rails over which digital gold flows, Bitcoin miners only had roughly $394k in transaction fees.
This gap could suggest slack and general taper in activity over the last few days, moving in sync with dropping prices.
Presently, BTC prices are trading below $30k—a psychological round number. The slump in prices didn’t spare altcoins like Ethereum, whose prices have more than halved, sliding to around $1.7k in the N.Y. trading Session on July 20.
Even so, Ethereum is buoyed by its active DeFi protocols.
As it is, Uniswap—a swapping protocol—generated $1.38 million in transaction fees in the last day, a slight dip from the $1.5 million average in the previous seven days.
Kakao’s GroundX Blockchain for Trialing South Korea’s Digital Won
Ground X, a blockchain by South Korea’s Kakao, has been selected by the Bank of Korea as a testing ground for its Digital Won project.
Reports also indicate that ConsenSys—a software developer promoting the adoption of Ethereum—will contribute technology to facilitate this trial.
In recent months, more banks have announced plans of trials or research in their plans to adopt a CBDC. At present, China’s PBoC has pulled ahead of others in piloting the Digital Yuan.
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