Hey Chain Debrief Community,
Welcome back to the ultimate newsletter that nobody asked for.
The latest CPI is out, and it is lower than expected. US inflation has fallen to 8.5% and the whole market rallied. In the past 24 hours, both Bitcoin and Ethereum are up 6.31% and 12.2%, respectively.
In other news, the Goerli testnet was a success! I know I have been writing about the Ethereum merge for the past few newsletters, but there are always new details you should know about “the merge”.
Like crypto is not complicated enough, we will potentially see two Ethereum blockchains: Ethereum 2.0 (Proof-of-Stake) and Ethereum (Proof-of-Work).
The miners who are currently securing the Ethereum chain plan to fork the chain. They will fork the chain and remove the difficulty bomb so that the chain will be usable.
The original plan was to let Ethereum (Proof-of-Work) die through the use of a difficulty bomb. When the difficulty bomb goes off, it would make producing a block so difficult that the blockchain would eventually be unusable.
Some thought leaders in the space think that the original chain with the difficulty bomb intact has some value to it because it is the original chain. This is getting overly complicated. Let’s not go there.
Anyway, did you guys mint the We Are SG NFT? The free mint came with great perks! A complimentary portion of salmon sashimi at the standing sushi bar with a min spend of $5? What’s there not to love?
I know where I’ll be going this weekend, kek.
— Gab from Chaindebrief
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