By Kapil Rajyaguru
Ethereum, L2s To Reach Over 100K TPS With ‘The Surge,’ Says Vitalik Buterin.
Ethereum co-founder Vitalik Buterin has outlined key goals for the Ethereum blockchain in the next step of its roadmap, dubbed “The Surge.”
In a technical Oct. 17 blog post, Buterin shared his “key goals” for The Surge, which include achieving over 100,000 transactions per second (TPS) across Ethereum’s mainnet and layer 2 blockchains as well as increasing interoperability between the layer 2’s.
“Ethereum should feel like one ecosystem, not 34 different blockchains,” Buterin wrote.
Buterin said Ethereum “needs” trustless rollups so that some L2s could “inherit Ethereum’s core properties” and allow for more robust scaling over time.
Thailand’s Oldest Bank Announces Stablecoin Remittance Services.
Siam Commercial Bank (SCB), Thailand’s oldest commercial bank, recently revealed it will begin offering stablecoin cross-border payment and remittance services to its clients in collaboration with fintech company Lightnet.
Adding support for stablecoin services will allow clients to send or accept cross-border transactions 24 hours a day, seven days a week—while reducing transaction costs.
PayPal’s PYUSD Market Cap Drops 40% From Peak, Foul Play Speculated.
PYUSD, PayPal’s dollar-backed stablecoin, dropped 40% in market cap since its high in August. Data suggests that this high only occurred due to high-yield financial incentives from Kamino Finance and others.
When PYUSD first launched in August 2023, PayPal quickly declared it fully backed with fiat. However, the stablecoin initially failed to gain significant adoption, experiencing only steady yet meager supply growth.
Radiant Capital Loses $50 mn to Second Blockchain Exploit This Year.
Blockchain lending protocol Radiant Capital lost more than $50 million on Wednesday as the result of an apparent cyberattack, according to security experts and blockchain data.
An attacker gained control of Radiant Capital’s blockchain contracts by obtaining three of the “private keys” that control the protocol, security experts said.
The Radiant platform encompasses a suite of tools allowing users to borrow, lend, and bridge cryptocurrencies across blockchains.
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