Status update: Merged

The Merge sets the stage to make Ethereum faster, more scalable, and more decentralised and paves the way for further upgrades. Ethereum co-founder Vitalik Buterin believes The Merge will also help “crypto payments make sense again".
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Hello Reader,

Breaking news: Roger Federer is retiring from professional tennis.

Barely a month after Serena Williams announced her retirement, 41-year-old Federer took to Twitter to announce that next week’s Laver Cup in London will be his last ATP event.

One of the most successful tennis players of all time, Federer has won 103 ATP singles titles, including 20 Grand Slams over the 24 years of his illustrious career. 

Meanwhile, Patagonia founder Yvon Chouinard is giving up all his shares worth $3 billion to help fight climate change. "Earth is now our only shareholder,” wrote Chouinard in an open letter on the company’s website. 

ICYMI: Here’s how your brain classifies memories.

Turns out, it all depends on one molecule.

In today’s newsletter, we will talk about 

  • Ethereum transitions to PoS
  • Building an EV charging infra
  • upGrad acquires Centum Learning

Here’s your trivia for today: When did the first Filmfare Awards function take place?


Blockchain

Ethereum transitions to PoS

Cutting 99% of its carbon footprint, the Ethereum blockchain made history by successfully completing 'The Merge'—a transition from a Proof of Work (PoW) system to a Proof-of-Stake (PoS) network.

While transaction speeds won't reduce overnight, The Merge is set to make Ethereum faster, more scalable, and more decentralised and paves the way for further upgrades.

The Merge's impact:

  • Node operators will now need to stake 32 Ether (ETH) to become network validators and earn rewards.
  • Layer-2 solutions built on Ethereum—such as Polygon, Optimism, Arbitrum, Loopring, and Boba Network—will become more energy efficient.
  • The Merge is aimed at making Ethereum the most widely-adopted chain and is a precursor to sharding—dividing the network into subsets of nodes to improve efficiency.

Startup

Building an EV charging infra

Electric vehicles (EVs) are becoming more mainstream, with more than a million units running on Indian roads. This calls for the need to develop a robust charging infrastructure.

Bengaluru-based charging aggregator platform ElectricPe offers a B2C EV charging and demand generation app where EV users can quickly identify, access, and pay for EV charging points.

‘BookMyShow of EV charging’:

  • The startup shows the pricing per unit of all nearby third-party charging/ swapping points.
  • ElectricPe has tied up with Hero Electric, NoBroker, ElectricOne, and JWS Group to set up charging points across India.
  • Users can also make a request on the app for charging points to be established in their area.

Edtech

upGrad acquires Centum Learning

Continuing its spree of acquisitions, edtech unicorn upGrad has acquired corporate training solutions provider Centum Learning in a share swap deal. 

The startup has over 3,000 learning and development (L&D) specialists on the platform and has trained more than two million people.

upGrad's growth strategy:

  • In August 2022, upGrad acquired Exampur, an online learning startup for competitive examinations, in a cash-and-share swap deal.
  • It has also acquired Delhi-based edtech startup Harappa Education and Bengaluru-based recruitment and staffing firm WOLVES. 
  • The edtech unicorn also launched five new offline experience centres in Delhi, Jabalpur, Kolhapur, Kottayam, and Patna.

News & updates

  • Going green: Samsung announced that it will invest more than $5 billion in its carbon-neutral projects and environmental technologies through 2030, aiming to make its global operations and products net zero carbon emission by 2050.
  • Shifting gears: Tesla is reevaluating the way it sells electric cars in China, its second-largest market, and considering closing some showrooms in flashy malls in cities like Beijing where traffic plunged during COVID restrictions.
  • Beefing up: Adobe has agreed to buy software design startup Figma to help it expand tools for creative professionals. The $20 billion deal announced by Adobe, which is a mix of half cash and half stock, would mark the biggest ever takeover of a private software company.
  • Expanding: Shein, the online retailer that has turbocharged the global fast-fashion industry, is planning to deepen its foothold in the US as its sales to American shoppers continue to soar.

What you should watch out for

  • Baba Ramdev may announce Patanjali Group’s IPO plan.
  • Eight cheetahs will arrive at Madhya Pradesh's Kuno National Park from Namibia.
  • Apple iPhone 14 series to go on sale from today.

When did the first Filmfare Awards function take place?

Answer: The first edition of Filmfare Awards, originally known as The Clares, was held on March 21, 1954 at Mumbai. 

Hollywood star Gregory Peck was invited as the guest of honour but he couldn’t make it due to a delayed flight.


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