Ethereum’s ‘Spadina’ testnet – the final testnet ahead of the blockchain’s upgraded mainnet release – was a proposed short-lived “dress rehearsal” for Ethereum 2.0, and the lead coordinator for ETH 2.0 at the Ethereum Foundation claimed it was largely successful.

San Francisco-based cryptocurrency exchange coinbase has started offering staking rewards for ATM, the native cryptocurrency of the Cosmos blockchain.

Hybrid blockchain platform  Kadena is reportedly planning on launching an ew multi-chain decentralized exchange (DEX) in hopes of competing with rivals on the Ethereum blockchain.

Top stories in the Crypto Roundup today:

• Ethereum 2.0 Launch Rehearsal ‘90% Successful’
• Coinbase Starts Offering Cosmos Staking Rewards
• Kadena to Launch Multi-Chain Decentralized Exchange
• Take Your Trading to the Next Level With Bookmap Charting

Ethereum 2.0 Launch Rehearsal ‘90% Successful’

Ethereum’s ‘Spadina’ testnet – the final testnet ahead of the blockchain’s upgraded mainnet release – was a proposed short-lived “dress rehearsal” for Ethereum 2.0, and the lead coordinator for ETH 2.0 at the Ethereum Foundation claimed it was largely successful.

According to developers, the Spadina testnet is likely the last chance for prospective ETH stakers to test the deposit and launch tools ahead of the Phase 0 genesis. The test was largely successful as no major issues were found in the deposit process, and the client managed to handle blocks successfully.

Participation rates were however, below expectation as the first few rounds of validation saw below 34% of the stake joining in the consensus process, while the target was 80%. The low participation suggests community members who signed up to be validators failed to bring their clients online on time. Testnet ether, it’s worth noting, has no value so stakers won’t mind if their capital is slashed while they are offline.

Danny Ryan, lead coordinator for ETH 2.0 at the Ethereum Foundation, was quoted as saying he thinks “we’ve got 90% of what we wanted from this.” The results seem to bode well for a Phase 0 launch later this year.

Phase 0 will not impact Ethereum’w wider ecosystem immediately. Ethereum 2.0 is being developed to improve Ethereum’s "simplicity, resilience, longevity, security, and decentralization." Its rollout is planned in multiple stages and phases.

Coinbase Starts Offering Cosmos Staking Rewards

San Francisco-based cryptocurrency exchange coinbase has started offering staking rewards for ATM, the native cryptocurrency of the Cosmos blockchain.

ATOM is the second cryptocurrency Coinbase supports for staking rewards, with the first one being Tezos (XTZ). The cryptocurrency exchange said customers in select jurisdictions, including the U.S., the U.K., France, Spain, Belgium, and the Netherlands, could start earning 5% per annum staking ATOM.

The exchange charges a 25% commission for staking both ATOM and XTZ.  Despite its commission, Coinbase is the biggest Tezos staking service and distributed over $2 million worth of XTZ to customers since the service was launched in November 2019.

ATOM staking rewards are set to be credited every seven days, while XTZ rewards get credited every three days.

Kadena to Launch Multi-Chain Decentralized Exchange

Hybrid blockchain platform  Kadena is reportedly planning on launching an ew multi-chain decentralized exchange (DEX) in hopes of competing with rivals on the Ethereum blockchain.

The new decentralized exchange, Kadenaswap, is set to launch later this year and will attempt to help traders move past Ethereum’s network congestion and increasing gas fees by providing them an alternative platform that, according to Kadena President Stuart Popejoy, can handle high volumes.

Speaking to CoinDesk, Popejoy claimed the DEX can handle 480,000 transactions per second using the Kadena public blockchain. Moreover, Kadena’s existing infrastructure that facilitates cross-chain KDA token transfers, can be easily ported to the DEX.

To ensure adequate cross-chain liquidity, Kadena will incentivize market makers to spread their token pools “across the board.” The Kadena blockchain, it’s worth noting, is a spinoff of JP Morgan’s blockchain department.

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