ETHLABS | Crypto

The non-profit signaled support for reducing Ethereum block times, citing increasing institutional activity moving onto the smart-contract network. Ethereum Institutional signaled support for Ethlabs’ motion to reduce block times and create a faster Ethereum to address increasing competition from other networks. “Make Ethereum faster,” wrote the non-profit organization in a Friday X post, arguing that reducing block times is needed as “more institutional activity moves onchain.”  On Thursday, Ethlabs published an article quoting 20 decentralized finance (DeFi) founders showing broad support for EIP-8198, also known as “Quick Slots,” which seeks to initially reduce Ethereum block times to 10 seconds from 12 seconds. Read more

Ethereum and Base are pursuing different account abstraction designs after talks failed, according to Ethlabs researcher Derek Chiang. Ethereum and Base are set to implement different account abstraction standards after efforts to agree on a shared account abstraction standard broke down last week. Interoperability standards became secondary to each chain’s core goals, leading both to go their separate ways and “putting the burden on wallets,” Derek Chiang, founding member and researcher at Ethlabs, as well as a co-author of Ethereum’s EIP-8141 proposal, said in a Monday X post. The divergence could require wallet developers to support separate transaction formats to provide a consistent experience across networks. Account abstraction allows programmable rules for authorizing transactions and paying fees. Read more

In this week's edition of The Protocol Newsletter, we’re diving into the creation of EthLabs, and why it was launched during a period of transition for the ecosystem.

BitMine and Joe Lubin back a new non profit called Ethlabs that aims to spur adoption. Binance shutters services in Europe after failing to secure a license. About 60% of users who placed their first World Cup bets on Polymarket had never interacted with blockchain protocols before, suggesting prediction markets are becoming an entry point into crypto. The finding is based on a 90-day Bitget Wallet study that tracked the onchain activity of 857,000 active Polymarket users. Alvin Kan, chief operating officer at Bitget Wallet, told Cointelegraph that earlier crypto onboarding efforts largely focused on making blockchain technology easier to understand through simpler wallets and better user interfaces, but users were still expected to learn how crypto worked before they could participate. “Prediction markets shifted that dynamic. Users show up because they have a view on something happening in the world,” Kan said. Read more

Ethereum price drops as ETHLABS launches to push ETH toward institutional adoption. Will it help the Ethereum price to break its highs? The post Ethereum Price Prediction: ETHLABS in Frontline to Save ETH Future appeared first on Cryptonews.