EtherWorld Weekly: May 8, 2022

The Great Renaming, Proof of Stake, Proof of Work, EIPs & Standardization Process, How to use BSC Testnet, Polygon Testnet, Testnets after The Merge, Shadow Forking: An Overview, MEV in DeFi, Roadmap for 2022 and Beyond!, Cryptocurrency Taxation in India

EtherWorld Weekly: May 8, 2022

Videos To Increase Web 3.0 Knowledge

Ethereum: The Great Renaming
Ethereum is a protocol undergoing significant changes. Client teams are upgrading the protocol to scale to meet global demand while improving security and decentralization. Beyond protocol development, a critical shift in Ethereum has been the movement away from ‘Eth1’ and ‘Eth2’ terminology. As of late 2021, core developers stopped using the terminology, preferring ‘execution layer’ and ‘consensus layer’, respectively.

Proof of Stake
Ethereum is moving to a consensus mechanism called proof-of-stake (PoS) from proof-of-work (PoW). However getting PoS right is a big technical challenge and not as straightforward as using PoW to reach consensus across the network.

Proof of Work
Existing Blockchain technology is working on the core concept of 'Proof Of Work' (POW). A proof-of-work (PoW) is a protocol that is difficult to compute but easy to verify.

EIPs & Standardization Process
Ethereum Improvement Proposals (EIPs) describe standards for the Ethereum platform, including core protocol specifications, client APIs, and contract standards. Network upgrades are discussed separately in the Ethereum Project Management repository.

How to use BSC Testnet?
This video will help anyone who wants to use BSC Testnet.

How to use Polygon Testnet?
This video will help anyone who wants to use Polygon Testnet.

Technical Articles

Ethereum Testnets after The Merge
Ethereum blockchain is transitioning to Proof-of-Stake (PoS) consensus with The Merge network upgrade. It is anticipated that Ethereum devs will retain Sepolia, a PoW testnet, and Goerli, the current PoA/PoS test network. However, Ropsten will no longer be maintained by go-ethereum developers. It will be online as long as people continue to mine on it. Prater is the current Proof of Stake test network for Beacon chain will be around for some time even after the Merge.

Ethereum Mainnet Shadow Forking: An Overview
The transition of Ethereum from Proof-of-Work (PoW) to Proof-of-Stake (PoS) consensus is getting closer, with developers launching the first mainnet shadow fork on April 11th. The goal is to put existing assumptions about testnets and the mainnet to the test. This was one of the most important historical events in the Merge upgrade. According to Marius Van Der Wijden, a developer at Go-ethereum Client, this mainnet shadow fork was a huge success.

MEV in DeFi
The explosion in Ethereum-based DeFi protocols provides a glimpse of what the DeFi ecosystem breakthrough can bring in the future. As DeFi grows in the blockchain ecosystem, MEV is becoming a trending topic for developers and miners community. Miners frequently utilize MEV to make more income on a block by reordering transactions in each block in ways that benefit them.

Ethereum's Roadmap for 2022 and Beyond!
Vitalik Buterin, the co-founder & researcher at the Ethereum Foundation, shared the latest roadmap of Ethereum protocol development on Twitter. This is a thoughtful return gift by Vitalik to the Ethereum community on the first anniversary of the beacon chain launch.

Latest News

Cryptocurrency Taxation in India
30% Tax on crypto and 1% TDS cut on each transaction has been implemented in India from 2022-2023 financial year.

“Buakaw 1” - NFT By Thai Fighter Announces Presale
“Buakaw 1” – The Hottest NFT of the Decade By Legendary Muay Thai Fighter Announces Presale Launch Date of May 8th-9th 2022 As It Makes Global News

Battlelab Launches Blockchain Based Esports Gaming Platform
The Battlelab platform offers fully automated integration to a variety of games, allowing quick and seamless user experience to their favorite game titles. Battlelab provides a safe and secure platform for players, so they can Play-to-Earn using smart contracts.

UGOKI Watches Announces Launch of NFT Collection
UGOKI is a prestigious watch manufacturer and has entered into the world of NFTs in a spectacular way. The UGOKI Watches will appear on the wrists of their other NFT collection "Expeditious Snow Monkeys On The Block."

HospoWise Sets New Paradigm in the Hospitality Industry
HospoWise is a technology startup founded in 2022 with the goal of solving problems ​in the hospitality industry. They launched their ERC20 token through their presale ​on the 3rd of April 2022 (12 pm UTC).


Disclaimer: The information contained on this web page is for education purpose only. Readers are suggested to conduct their own research, review, analyze and verify the content before relying on them.

To publish press releases, project updates and guest posts with us, please email at

Subscribe to EtherWorld YouTube channel for easy digestable content.

Support us at Gitcoin

You've something to share with the blockchain community, join us on Discord!

Follow us at Twitter, Facebook, LinkedIn, and Instagram.

Share Tweet Send
You've successfully subscribed to
Great! Next, complete checkout for full access to
Welcome back! You've successfully signed in
Success! Your account is fully activated, you now have access to all content.