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Ethereum just pulled off its final test run ahead of one of the most important events in crypto

Ethereum just pulled off its final test run ahead of one of the most important events in crypto

Ethereum is the world’s second-biggest cryptocurrency, and it’s giving bitcoin a run for its money.

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Ethereum, the second-largest cryptocurrency by market value, just ran a final dress rehearsal ahead of a years-awaited upgrade that’s been billed as one of the most important events in the history of crypto.

Since its creation almost a decade ago, ethereum has been mined through a so-called proof-of-work model. It involves complex math equations that massive numbers of machines race to solve, and it requires an abundance of energy. Bitcoin mining follows a similar process.

Ethereum has been working to shift to a new model for securing the network called proof of stake. Rather than relying on energy-intensive mining, the new method requires users to leverage their existing cache of ether as a means to verify transactions and mint tokens. It uses far less power and is expected to translate into faster transactions.

The final test took place Wednesday at around 9:45 p.m. ET.

Ansgar Dietrichs, a researcher with the Ethereum Foundation, said in a tweet that the most relevant metric for success when it comes to a dry run like this is looking at time to finalization. He called it “another successful test.”

A research associate from Galaxy Digital pointed out that the participation rate after the test merge dropped, and it looked like there may have been an issue with one of the clients — but overall, it worked.

“A success Merge = chain finalizes,” Christine Kim wrote in a tweet, adding that we are likely to see similar types of issues with the upgrade on mainnet, “but the point is, the Merge worked.”

The timing of the upgrade will be discussed at a meeting of ethereum core developers on Thursday. Previous guidance indicated that the merge should go into effect in mid-September.

Ethereum’s transition has been repeatedly pushed back for the last several years. Core developers tell CNBC that the merge has been slow to progress, in order to allow sufficient time for research, development and implementation.

The price of ether, the token native to the ethereum blockchain, has been on an upswing the last month, rising nearly 80%, including a gain of 10% in the last 24 hours to around $1,875. However, it’s still down by about half this year.  

Here’s what happened

One of ethereum’s test networks, or testnets, called Goerli (named for a train station in Berlin) simulated a process identical to what the main network, or mainnet, will execute in September.

Testnets allow developers to try out new things and make necessary tweaks before the updates roll out across the main blockchain. Wednesday night’s exercise showed that the proof-of-stake validation process substantially reduces the energy necessary for verifying a block of transactions, and also proved that the merger process works. 

Read more about tech and crypto from CNBC Pro

Spotting the bugs

Tim Beiko, the coordinator for ethereum’s protocol developers, told CNBC that they typically know “within minutes” whether a test was successful. But they’ll still be looking out for many potential configuration issues in the hours and days ahead so they can quickly fix them.

“We want to see the network finalizing and having a high participation rate amongst validators and also make sure we don’t hit any unexpected bugs or issues,” said Beiko.

The easiest metric to track is participation rate, meaning how many validators are online and doing their duties, Beiko said. If the numbers go down, developers will have to figure out why.

Another key issue relates to transactions. Ethereum processes transactions in groups known as blocks. Beiko said one clear indicator the test went well will be if the blocks have actual transactions in them, and aren’t empty.

The last major check is whether the network is finalizing, meaning that more than two-thirds of validators are online and agree to the same view of the chain history. Beiko says it takes 15 minutes in normal network conditions. 

“If those three things look good, then there’s a long list of secondary stuff to check, but at that point, things are going well,” said Beiko.

‘More accessible’

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Constellar gears up for a dynamic event calendar ranging from FinTech and Food to Agri-Tech, Industry 4.0 and Wellness

Constellar gears up for a dynamic event calendar ranging from FinTech and Food to Agri-Tech, Industry 4.0 and Wellness

SINGAPORE, May 31, 2022 /PRNewswire/ —  Constellar is excited to welcome its communities in person again with a diverse line-up of events in the second half of 2022. As venue manager of the award-winning Singapore EXPO and Asia’s partner of choice for event organisation and management, Constellar’s recent achievements at the 2022 Singapore Tourism Awards has boosted the team’s commitment to continue raising the bar for event excellence and value creation.

In the next six months, Constellar will organise and host over 10 of its largest exhibitions and conferences as well as several industry-firsts as consumer shows finally return.

Business Events

Fresh from being named Outstanding Event Organiser for Industrial Transformation ASIA-PACIFIC 2021, Constellar will again showcase the latest technologies and trends at the fifth edition of the region’s leading platform for Industry 4.0 and smart manufacturing solutions. With COVID-19 restrictions lifted, the event is expected to attract over 18,000 attendees from around the globe.

Over 60,000 attendees from 160 countries will converge at the seventh edition of Singapore FinTech Festival, igniting the global FinTech community with a smorgasbord of content, networking opportunities, industry collaboration and innovation initiatives.

The inaugural Agri-Food Tech Expo Asia, a participating event of Temasek’s Singapore International Agri-Food Week, is expected to draw over 6,000 physical attendees, bringing together Asia’s key players and innovators in the food production, manufacturing, technology and trade industries.

In the region, Malaysian International Food & Beverage Trade Fair, one of the largest food and beverage trade exhibitions in Malaysia, will return to Kuala Lumpur. The Patient Experience & Innovation Summit, a Constellar event to inspire healthcare and medical practitioners to make healthcare more innovative, intuitive, and empathetic, will also be held in Bangkok for the first time. Over in New Delhi, FinTech Festival India will showcase investment opportunities and enhance collaborations between Indian & global FinTech partners.

Consumer Events

After a long hiatus, COMEX, one of Singapore’s most established consumer IT fairs, will return as a physical edition with attractive deals for tech enthusiasts. Popular food fairs Yummy Food Expo and World Food Fair will also return as two of the largest onsite food sampling fairs to be held in Singapore since COVID-19.

Over at Constellar’s managed venue Singapore EXPO, families can also head down to the venue in the month of June for a series of wellness activities organised by Constellar in conjunction with the Singapore Tourism Board’s Wellness Festival Singapore 2022. Themed [email protected], these activities will complement the new lifestyle offerings recently installed at the venue, such as Singapore’s largest purpose-built fun-kart circuit and badminton hall, and the newest F & B additions Timbre+ Eastside and TAG Restaurant & Bar.

[email protected] highlights include cooking classes focusing on nourishment with Chinese herbs, taught by Physician Diana Goh from Kin Teck Tong and Chief Culinary Officer Chef Richmond Lim of Singapore EXPO’s culinary team; healthier baking classes by pastry chefs at the Academy of Pastry and Culinary Arts (APCA); kids and family-friendly yoga sessions, and Jump Boots workouts popular with both adults and children.

Hosted Events at Singapore EXPO

Apart from the above lineup, Singapore EXPO, the nation’s largest purpose-built MICE venue, will also be playing host to a diverse and unique line-up of trade events. These include Asia Tech x Singapore, Asia’s flagship tech event; Food & Hotel Asia (FHA-Food & Beverage and FHA-HoReCa), leading foodservice & hospitality events in Asia; MRO Asia-Pacific, the region’s premier event for maintenance, repair and overhaul in aviation; Jewellery & Gem WORLD Singapore, the world’s biggest trade buying event for gemstones and jewellery; Cosmoprof, the leading B2B trade event in Asia-Pacific covering all sectors of beauty; and Natural Disaster Expo Asia, a leading event for the management and mitigation of natural disasters. 

With the return of events and visitor traffic to Singapore EXPO, Constellar will continue to roll out more features to augment the customer experience, including sustainability investments that will accelerate its journey towards carbon neutrality. One such investment includes Singapore’s first autonomous buggy with 100% locally developed technology. This vehicle is built by local tech-start-up Autsren Emobility Pte Ltd in research collaboration with the Energy Research Institute @ Nanyang Technological University (NTU/[email protected]). From 1-3 June, visitors to Singapore EXPO can view the vehicle in action and experience the ride personally. Investments over the next few months include solar panels for better energy efficiency and a food digester to turn food waste into electricity, water and compost.

“We’re excited to welcome live events back, as well as to apply the learnings from the past two years to develop stronger networks and innovative event experiences,” said Group CEO, Jean-François Quentin. “With face-to-face engagement remaining the most irreplaceable aspect of our business, and an important enabler for rebuilding business momentum, we will continue to invest in capabilities to deliver quality engagements for our communities.”

More details on the events can be found in the Appendix Folder.

The Constellar Communications team can be reached at [email protected]

About Constellar

Constellar connects a global eco-system of event partners and consumers through a holistic portfolio of intellectual property (IP) in the Meetings, Incentives, Conventions and Exhibitions (MICE) industry. As Asia’s partner of reference for curating innovative event and venue experiences, Constellar activates impactful networks to bring global markets, businesses and consumers together for sustainable growth. With our expertise and dedication, we are invested in helping you build trusted relationships with stakeholders for the long term and enabling cross-industry collaboration through world-class audience engagement solutions.

Visit www.constellar.co for more information.

SOURCE Constellar

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Fintech Startup TradeStreet Tracking Unusual Market Events Expands Internationally

Fintech Startup TradeStreet Tracking Unusual Market Events Expands Internationally

The Swiss and Czech-based startup TradeStreet using a proprietary algorithm to track unusual stock market events is expanding its coverage from Switzerland and Czechia to the rest of Europe and the United States.

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Prague, Czech Republic–(Newsfile Corp. – May 18, 2022) – TradeStreet, a Swiss and Czech-based fintech startup, is expanding its operations over the borders to foreign markets including the rest of Europe, the US and other major markets. TradeStreet is an application that helps to detect unusual events happening in the US stock market by analyzing hundreds of millions of data daily in real-time.

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“We are committed to make the big market data readable to anyone,” Co-Founder and longtime investor Dominik Kovarik said. “People can go and search in millions of data in publicly or privately available data sources, but it is extremely difficult to interpret anything from them. Thus, we have founded TradeStreet. We combine data from many sources and by using modern AI algorithms we backtest, combine and interpret the results to the users.”

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Dominik Kovarik, TradeStreet Co-Founder & Investor

The platform makes it easy for intraday, swing and long-term traders to follow unusual option flows. Delivering more than 600 unusual option orders a day by scanning multiple exchanges at once, it helps stock and option traders to reveal sweep orders on the option market. That is especially helpful in conjunction with unusual trades in Dark Pool exchanges (private securities exchange in which typically large financial institutions trade anonymously).

The users will find many other features like analysis of insider transactions (CEOs, CFOs, beneficial owners and others). The AI runs big data analysis on this data based on clustering of the transactions, sentiment evolution and many more.

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TradeStreet makes big market data readable to anyone

Similarly, one can follow analyst ratings from the top Wall Street analysts powered by AI and a set of other rules trying to filter the best analyst ratings. The proprietary algorithm, called TradeStreet Analyst Algo™, is an algorithm that based on several conditions trades based on new analyst ratings.

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The platform is full of such features, and it is extremely transparent with their customers regarding future features. Via a public roadmap, it prioritizes new features directly with the users. Users can even suggest new feature ideas and by voting and they can eventually be implemented by the two development teams located in Switzerland and the Czech Republic.

Find more at https://www.tradestreet.io or you can sign up for an on-line Workshop hosted by Dominik at https://event.webinarjam.com/register/71/o80vntm8.

Media Details:

Viral Media spol. s r.o.
Martin Linha
support@tradestreet.io
Rybna 716/24, Stare Mesto, 110 00 Prague, Czech Republic

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/124111

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