Game Changer For Ethereum And Beyond

GM Readers!📪 It's BitDegree Insider, and here's your Web3 sushi.

⭐️Today's selection:

• 🤖zkEVM by ConsenSys
• 🦊No Airdrop From MetaMask?!
• 🧋Wednesday Bubbles
• 👌Selected Meme of The Day
• 📰Bite-Sized News

zkEVM BY CONSENSYS

Not a day without news about zkEVM. Yesterday we talked about zkEVM. Guess what. Today we're about to talk about it some more.

It's the next big thing. You better get ahead of everyone, and be familiar with it!

Reminder: an EVM network with zero knowledge technology uses advanced cryptographic techniques to verify transactions without the need for a trusted intermediary, enhancing the trust and security of the network.

ConsenSys have opened up public access to their own zkEVM network called Linea.

For those who don't know: ConsenSys is a mammoth of the crypto market. The company was founded by Ethereum co-founder Joseph Lubin.

Here's what ConsenSys has created so far:

• MetaMask, the largest crypto wallet.
• Truffle, the blockchain development tool.
• Infura, a popular set of APIs (Application Programming Interface).
• They also helped migrate Ethereum from Proof-of-Work to Proof-of-Stake.

If even ConsenSys has begun venturing into the zkEVM territory, then get ready to hear about zkEVM on every corner in the next few years.

Ethereum will benefit the most from this trend because all zkEVMs use ETH as the primary cryptocurrency for transaction payments and are aimed at expanding the Ethereum ecosystem.

And, as always - there are some activities for those who wanna go out and test new stuff.

The testing process is pretty straightforward

You can just use the functionality of the well-known dApps (Uniswap, etc), but do so in the Linea Test Network. (no need to invest money, though better to use wallet which was active before).

However, regular interaction will be required. Maybe, try to interact at least once every 2 weeks. This should count as regular.

Here are some instructions about how the testing can be done:

First, go to the main page of the testnet; Then add Linea network to a MetaMask wallet; Now request test tokens from any of the faucet-platforms; Transfer $ETH from Goerli to Linea by using the Hop Bridge; Add liquidity to ETH Linea Pool, here's how you do it:On "Convert" tab, get WETH and hETH → then again, add liquidity to the pool; Now, go perform swaps on Uniswap; Use available dApps from this list.

It may look difficult, but it definitely would be even more difficult without such instructions!

TL;DR: ConsenSys, the developer of MetaMask, has opened up public access to their own zkEVM network called Linea. This means that the zkEVM is about to go mainstream.

NO AIRDROP FROM METAMASK?!

Rumors have been spreading around that MetaMask is planning an airdrop for 31 March.

The project team has denied this, calling such rumors "dangerous lies".

So, yeah. No airdrop in March. But... This doesn't mean that there's not going to be a MetaMask airdrop eventually.

Nevertheless, this wave of false rumors did not come out of thin air.

As part of a fireside chat at ETHDenver, Consensys CEO Joseph Lubin hinted that they might have plans for a standalone token.

Prior to that, he had repeatedly "warmed up" the public for a possible airdrop. But he never gave any details, much less a precise timeline.

No info as well on whether MetaMask and zkEVM Linea will have the same token.

Still, if you are interested we made a super-detailed guide on how to use MetaMask bridge back in November, check it out here.

Overall, it is common that massive airdrops lead to an increase in activity on important projects that don't have a token. But after 1-2 weeks, people get tired, and give up.

This is because many people succumb to FOMO and rush to partake in various activities. This is... a bad way of doing things.

The key message here is that airdrop hunting requires strategy and patience!

To ensure a smooth and sustainable blockchain experience, it's crucial to plan ahead and calculate how much you can afford to spend on blockchain commissions over time.

It's advisable to divide this amount into manageable chunks, such as weekly or monthly budgets, as consistency is key for most blockchain activities.

So, if you're feeling eager, and determined, remember to strategize! Make use of our zkEVM or MetaMask guides (mentioned above), and go get those airdrops, tiger!

May the force guide you towards success.

TL;DR: MetaMask has officially denied that they're planning an airdrop on March 31.

WEDNESDAY BUBBLES

XRP is showing gains. The answer here is obvious. The lawsuit is coming to an end. People are betting on it. In case Ripple Labs wins, XRP holders will have a feast.

And you can tell that the community is optimistic about it.

SELECTED MEME OF THE DAY

BITE-SIZED NEWS

• NFT Collection y00ts Starts Migration Process from Solana to Polygon Ecosystem. Over 11,000 NFTs were moved to Polygon network.
• EU Combats Money Laundering with 1,000 Euro Cap on Anonymous Crypto Transactions. The rule would also apply to cash transactions that would be subject to a 7,000 euro ($7,585) cap.
• European Banking Federation Lays Out Its Digital Euro Vision in New Paper. This means that they're supporting the idea of it. Duh.