ETH Weekly Report | Ethereum will carry out the "Muir Glacier" hard fork on New Year's Day; DEX's weekly on-chain transaction volume decreased by 23% month-on-month (12.23-12.29)

Author | Qin Xiaofeng

Author | Qin Xiaofeng

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1. Overall overview

1. Overall overviewEthereum official

Second, the secondary market

Second, the secondary market

1. Spot market

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(ETH daily chart, picture from OKEx)

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2. Fund flow            

(data from BiNuNiu)

(data from BiNuNiu)

In terms of capital, capital fluctuated greatly last week, with the largest net inflow of funds on Sunday, exceeding US$27 million; and the largest net outflow of funds on Wednesday, exceeding US$29 million.

(data from Tokenview)

(data from Tokenview)

Tokenview dataIt shows that the number of transfers on the chain dropped sharply last week, among which the number of transfers of "above 5,000 ETH", "above 10,000 ETH" and "above 50,000 ETH" decreased by 19%, 42%, and 40% month-on-month, respectively.

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(more than 50,000 ETH transfers)Jeffrey Wilcke Last week, there were 3 transfers of "above 50,000 ETH", with the largest transfer amount of 139,000 ETH. The transfer-in and transfer-out addresses are unknown and have not yet been split; The transfer was transferred twice), a member of the founding team of EthereumAs a result, he confirmed on Twitter that the transfer will raise funds for his game project, and the tweet has been deleted. Previously, some people questioned the transfer system3. Ecology and technology

3. Ecology and technology

1. Development and technology

1. Development and technology

(1) V God proposes a new method of data migration, or makes the transition from Ethereum 1.0 to 2.0 faster

In a Dec. 23 Ethresear.ch proposal, ethereum co-founder Vitalik Buterin proposed a faster way to migrate data to ethereum 2.0, meaning the long-awaited upgrade may come sooner than expected. Buterin described a way to eliminate Ethereum 1.0’s current proof-of-work blockchain, which would allow projects to “accelerate progress” on merging with Ethereum 2.0’s beacon chain. But it's unclear when that transition will take place. (Crypto Briefing)

(2) V God: In the short term, it is necessary to develop the first layer and the second layer protocol of the blockchain in parallel, and in the long run, more attention should be paid to the second layer

On December 26, Vitalik, the founder of Ethereum, published an article on his personal website to discuss issues related to the layering of the blockchain protocol, saying, "Keep the functions of layer 1 (layer 1) simple, and add layers on layer 2 (layer 2)." make up" is not a universal answer to the problem of blockchain scalability and functionality because it fails to take into account that layer 1 itself must be scalable and functional enough for this to allow this kind of "build on top of ” (unless the so-called “layer 2 protocols” are just trusted intermediaries). However, to a certain extent, any layer 1 functionality can be replicated to layer 2, and in many cases this is a good idea, doing so increases scalability. Therefore, layer 1 development needs to be done in parallel with layer 2 development in the short term, and more attention needs to be paid to layer 2 in the long run.

(3) Metamask contributors: The MetaMask project did not get the support it needed from ConsenSys

Contributors to the ethereum browser extension Metamask claim that the MetaMask team is "completely overwhelmed" and not prioritized by its parent company, ConsenSys. In a Reddit post on Dec. 25, Reddit user lazaridiscom3 claimed that the MetaMask team did not receive the support it needed from ConsenSys, and as a result, the entire team of 24 employees was overwhelmed. (Cointelegraph)

The ETC Agharta hard fork will include the functionality of the Ethereum Constantinople fork and intends to make ETC fully compatible with Ethereum. According to previous news from Odaily, on December 12, ETC Core held a developer conference call to confirm that the Agharta hard fork height is 9573000, which is expected to be carried out on January 15, 2020. (Cointelegraph)

2.DEX

according toDAppTotal.com DEXimage description

(picture fromDAppTotal.com DEX）

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3.Dapp

according toDappreview dataDappreview data

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(data from etherchain.org)

etherchain.orgThe data shows that the average computing power increased by 0.5% month-on-month, temporarily reporting 155TH/s; the average daily mining decreased by 2.16%, temporarily reporting 10,489 ETH.

(Mining difficulty changes)

4. News

4. News

1. Ethereum will undergo a "Muir Glacier" hard forkEthereum officially released an announcement, announcing that the "Muir Glacier (Muir Glacier)" hard fork is planned to be carried out at block height 9,200,000 (expected on January 1, 2020, Beijing time). The specific date may vary due to time periods and time zones. changed. According to recent votes, Reddit community

Nearly 70% of those who participated in the vote supported changing the block reward to 1 ETH.

2. Ethereum’s lackluster growth could be due to its inability to improve its NVTV ratio

In a recent report from Vision Hill, Ethereum’s lack of growth could be due to its inability to improve its NVTV (Network Value/Token Value Ratio). This ratio explains whether the value of all assets anchored to the platform can be greater than the value of the underlying platform assets. Over the past two years, ETH's NVTV has been declining, indicating that it is unable to capture the value of all assets issued on its platform, "instead, its value is being captured in various applications." According to the report, in 2019 In the fourth quarter of 2019, ETH's NVTV ratio approached 1.0, but remained above 1.0. (AMBCrypto)

3. U.S. Attorney’s Office Denies Bail to Ethereum Developer Virgil Griffith