CEO Of MyEtherWallet Reports Two Valuable Components For Ethereum London Upgrade

in today's video we are going to talk about some massive news in the world of ethereum as their london upgrade is the talk of the crypto world we will also be addressing the news that turkish powerhouse fenerbahce has taken a step into the crypto world meanwhile xiaomi has taken the opportunity to shut down some rumors a quick look at the markets paints a positive picture with every coin of significance seeing green cardano has recently touched two dollars seemingly going on a run that might threaten to go on for a while meanwhile ethereum also surpassed 3.2 thousand dollars sticking with ethereum underwent upgrades on thursday the london hard fork upgrades had added new alternations to the network's blockchain according to the ceo and founder of myetherwallet kasalahem chandra there are two most valuable upgrades that are sure to boost the network's blockchain the london hard fork upgrade brought five changes to the current blockchain network according to hemchandra only two of the five upgrades are most crucial to the network's success he pointed out the first of the two upgrades was associated with time bomb delays ethereum network included a hard-coded value that ensured that the network would move towards eth 2.0 in due time m chandra stated he added that value coded in the network made it exponentially more difficult implying that after certain blocks had been minted miners would not be able to mint new blocks this would have pushed them to move towards the ethereum 2.0 network according to hemchandra it was because of the development delays the time bomb upgrade was constantly delayed and in the london hard fork it will be delayed one last time the london hard fork upgrade consists of five ethereum improvement protocols or eips among the proposals is eip1559 which according to hemchandra is the second most valuable upgrade in the blockchain network eip1559 is said to give the native asset ether a deflationary effect in the blockchain network according to hemchandra eip 1559 has been a debatable upgrade among developers for the blockchain network the upgrade in essence modifies the overall structure of ethereum transaction fees with eip-1559 the ethereum network will reduce transactions which will lead to a significant increase in the overall circulation m chandra noted he added that miners will no longer receive transaction fees as incentives any longer as well additionally the upgrade now consisted of a tipping mechanism meaning miners will be tipped directly rather than receiving transaction fees ethereum has suffered from scalability issues in recent times especially in regards to high fees from using decentralized finance defy solutions ethereum co-founder bhuterin mentioned that eth 2.0 aims to resolve the scalability issues in the ethereum blockchain network shifting towards eth 2.0 also implies that a blockchain network will establish a proof of stake or pos consensus mechanism eth 2.0 has been developed since december 2020 while still in the making the blockchain is highly anticipated by miners traders and the like hello everybody and welcome to crypto news the youtube channel that looks to bring you the hottest news in the crypto world daily the information we provide can be time sensitive so if you subscribe and click the notification icon below you will be notified every time we upload a new video fenerbahce sk which happens to be among the three most prominent sports clubs in turkey recently released its very own fan token on the eth blockchain via a new joint venture with a local cryptocurrency exchange called parabu for those who don't know turkish football might not get the mainstream attention that football leagues in england spain germany and italy get for example but they do have some of the most fanatic fans in the world and this club in particular has a large muslim following the first pre-sale of the 500k unlocked tokens was concluded this monday and it netted the club a total of 15 million worth of turkish lira or 1.75 usd in a mere 30 seconds the club revealed that the fenerbahce token would have a peak amount of 190 million 700 000 tokens in total with reference to the year the sports club was established 1907 as reported by the project's whitepaper 117 million treasure tokens in total are set to be established on smart contracts over the next 25 years on an annual basis federbosch also added a roadmap for the token burn which is going to be set off by the club's achievements in volleyball basketball and soccer the white paper also mentioned that there are going to be token burns every time there is a win tournament or even an achievement in europe acknowledging the bleak state of soccer amidst the covet 19 pandemic ali koch the president of fenerbahce stated that the sports are in dire need of seeking out new streams of revenue he added that being active in virtual currency assets is but a crucial item in the sports club's agenda co collaborated that fenerbahce held meetings with 12 companies both international and local before going ahead and issuing a fan token the club ended up picking parabu as the tech partner for the fenerbahce token after assessing numerous criteria i.e user base technical infrastructure and the possibility of a token listing discussing the contract between two parties coke stated that this is not a sponsorship deal rather it is a 25-year long joint venture the fenerbahce token was published as an erc20 token on the ethereum blockchain according to yasinoro the ceo of parabu this makes it feasible to market it on worldwide platforms in the future fenerbahce is a late entry into the turkish fan token craze that being said many fan tokens have already been distributed by a significant number of sporting teams around the nation the turkish union of clubs which happens to represent clubs in the country's top soccer team super league has recently collaborated with socios.com to discover digital income options chinese electronics company xiaomi has shut down speculation regarding its involvement in a change executed by a xiaomi shop based in portugal to begin allowing payments in bitcoin mestor portugal which happens to be a xiaomi vendor in the nation announced on facebook this wednesday that it now enables buyers to buy devices using five different virtual currencies these currencies include ether bitcoin tether dash and the utrust token a representative for xiaomi later reacted to the update on the chinese social networking platform weibo he went on to stress that the me store portugal is in fact not directly associated with xiomi's operations the person stated that they are concerned about the news regarding mestor portugal accepting virtual currency payments on foreign social networking platforms the spokesperson also stated that mestor portugal is definitely a third party certified parent operating separately in portugal afterwards me store portugal removed the statement on august 6th also taking down other information relevant to the announcement from its website i.e one stating that its customers would be able to choose the payment in cryptocurrency option at checkout the updated payment choice is allowed via a joint venture with you trust which is a blockchain tech payment platform based in europe you trust stated in a now removed tweet put up on wednesday that xiaomi is the second biggest phone company in the world and now their regional branch is now accepting the money of tomorrow when reached out to by a source for comment the company did not immediately respond according to information from international industry analysis company counterpoint xiaomi overtook international smartphone titan apple as the second most prominent mobile company in the second fiscal quarter of this year me store portugal is the sole official retailer of xiaomi's authorized products sold in portugal the firm's website notes that the retailer's operations are under european regulation as of now the company owns six brick and mortar stores across the country and is undergoing the process of expanding further the marketing director of mestor portugal reportedly stated that the firm's decision to allow cryptocurrency payments is in alignment with xiomi's aim for innovation as previously reported portugal has steadily been expanding as a digital currency friendly country throughout recent years with the government not imposing any taxes on retail cryptocurrency trading earlier in the year a domestic energy trading company began allowing bitcoin payment for power bills thank you everybody for watching crypto news we hope that you have taken something from this video investing in crypto can be daunting and there is so much information out there it can be difficult to distinguish fact from fiction thankfully we are here to cut out the rubbish and only bring you the news that genuinely shapes the state of crypto until then i look forward to seeing you tomorrow for another crypto video take care [Music]

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