Maker’s Dai Dilemma
Maker is one of the oldest DeFi protocols and the creator of Dai—the largest crypto-backed stablecoin by market capitalization ($4.7 Billion). But today, Maker is facing a major dilemma: how can the DAO achieve stability and decentralization of Dai?
Ethereum’s Successful Entry into the post-Merge Era
At 2:43 AM Eastern Time at block 15537393, Ethereum’s Proof-of-Work era came to an end, ushering in a new age of Proof-of-Stake Ethereum. In this special update, we share what we saw on the ground at the time of The [...]
The Final(ity) Countdown
Coin Metrics is excited to continue providing data-driven coverage of The Merge, Ethereum’s imminent protocol upgrade. In this piece, we explain the differences between slashing and penalties, and how transaction finality assumptions change post-Merge.
Ethereum’s Bellatrix Upgrade Goes Live in Final Preparation for The Merge
Ethereum moved one step closer to The Merge Tuesday with the activation of Bellatrix, a network upgrade to Ethereum’s Consensus Layer (CL), also known as the Beacon Chain. This upgrade prepares the CL to include Ethereum users’ transactions from the Execution [...]
Mapping Out The Merge
As part of Coin Metrics' support for Ethereum’s major network upgrade, we are excited to be releasing a new data-driven research report explaining the essential features of The Merge and its implications for the future of Ethereum’s security, economics, and [...]
TTD set, volatility TBD
With Ethereum’s final steps to PoS now engaged, how is the options market pricing in The Merge? This is a special guest post by Data Always, an independent crypto researcher, with support from the Coin Metrics Research team.
Mapping Account-based Blockchain Data to Virtual UTXOs
At its core, cryptocurrency utilizes complete transparency to help create trust between anonymous users. In comparison to traditional finance, analyzing on-chain data provides an enormous advantage in metric creation. Some blockchains like Bitcoin use something called an unspent transaction output [...]
Analyzing Recent Data Behind the Bitcoin Technology Stack
Earlier this year at the Bitcoin 2022 conference, Coin Metrics’ Lucas Nuzzi presented the following diagram showing a sample of some of the key projects pushing the Bitcoin ecosystem forward.
Ethereum After EIP-1559
As the upcoming merge with the Beacon Chain approaches, the upgrade to Ethereum’s fee market mechanism brought on by EIP-1559 has had nearly one full year to develop and for participants to habituate to the new conditions. In recognition of [...]
Exploring the Time-Based Patterns of Blockchain Activity
Blockchains are well known for offering a degree of pseudo-anonymity to transactors. But even though individual transactions might not be all that revealing, the collective behavior of blockchain users can be informative in understanding broader usage patterns. One example of this [...]