TL;DR
- Ropsten's new TTD announced
- Altair->Bellatrix transition happened
- Vitalik's view on Optimism surfaced public's contrasting opinions
- L2 "derives its security from Ethereum"
- 3.95B of gas used in a single day
- Balancer is launched on Optimism
- LSD for solo validators
Ropsten's new TTD announced
As we and the Ethereum developers team have been constantly reminding you all that TTD will be announced once again and you have to manually override the TTD again . So, that just happened and the newly announced TTD is 50000000000000000 which stakers and node operators have to override in both their execution and consensus layer clients before June 7, 2022. The Merge is expected around June 8-9 for all the information further refer to this article .
📣 Ropsten Merge Update 📣
— Tim Beiko | timbeiko.eth 🐼 (@TimBeiko) June 3, 2022
As mentioned in the Ropsten Merge Announcement, the terminal total difficulty (TTD) at which The Merge happens on Ropsten must be overridden by node operators & stakers.
The correct TTD value is 50000000000000000 👀https://t.co/aPAWNJfDYh
Also , Ropsten TTD post & graphic just dropped , read if you're testing on Ropsten for how to set TTD overrides and client releases.
Ropsten TTD post & graphic just dropped 🐼 read if you're testing on Ropsten for how to set TTD overrides and client releaseshttps://t.co/p9YrIp5lsJ pic.twitter.com/Jhmd7Jhiz4
— trent.eth (@trent_vanepps) June 3, 2022
Altair->Bellatrix transition happened
The Bellatrix upgrade activation on the Ropsten Beacon Chain (RBC) was the second step towards the Merge and it has already been taken, The transition happened on epoch 750, and It was perfectly smooth.Bopsten update: Altair -> Bellatrix transition happened on epoch 750, and It was perfectly smooth. Next stop: merge transition🐼 pic.twitter.com/yUnSGoBd1C
— terence.eth (@terencechain) June 3, 2022
Vitalik's view on Optimism surfaced public's contrasting opinions
This is a great example of why I'm so proud of @optimismPBC for adding non-token governance (the Citizen House).
— vitalik.eth (@VitalikButerin) June 3, 2022
Optimism explicitly has goals *other* than just "make OP go up", and the only way to do that long-term is with explicit representation of non-token-holder interests. pic.twitter.com/vofVVx53mC
Vitalik Buterin in his recent tweet praised Optimism for adding non-token governance (the Citizen House) and said "Optimism explicitly has goals other than just "make OP go up", and the only way to do that long-term is with explicit representation of non-token-holder interests."
To which people had different point views to express , you can see the whole conversations beneath Vitalik's tweet , here two of them from two recognisable personalities .
Optimism governance has deleted all replies and unlisted the post.
— Cobie (@cobie) June 1, 2022
They do not want the common people to have their say.
This governance is a sham! We need freedom of speech!
Sure! OP token profit is a function of sequencer revenue - which is itself a function of providing the best possible UX to devs/users. Having users pay fees in a minor token will hurt demand more than more reservation demand will increase it. Account abstraction is the way
— Hasu⚡️🤖 (@hasufl) June 3, 2022
L2 "derives its security from Ethereum"
Bartek.eth has come with yet another amazing thread explaining how L2s drive security from L1s . He explained in his thread that "You do not need to trust Sequencer to post a valid block - L1 smart contract will verify that the block is valid. All data is available on-chain, you can always reconstruct full L2 state from it if needed."
Learn more in the thread linked below.
What does it mean that the L2 "derives its security from Ethereum" ? On ETH you can run unstoppable smart contracts with transparent and verifiable logic. These can act as independent courts that will resolve a potential dispute. Examples: 👇🧵
— bartek.eth (@bkiepuszewski) June 3, 2022
3.95B of gas used in a single day
Yesterday marked the highest amount of gas ever used on Ethereum mainnet to settle L2 transactions. 3.95B of the 100B daily gas limit was used to settle L2 transactions, or 3.95%. The possible reasons behind this could be the release of the Optimism airdrop claims which gave large amounts of OP tokens to the eligible wallets. This is also probably the reason behind many people getting involved in L2s in hopes of getting airdrops in the future.
Yesterday marked the highest amount of gas ever used on Ethereum mainnet to settle L2 transactions
— Sam (@swmartin19) June 2, 2022
3.95B of the 100B daily gas limit was used to settle L2 transactions, or 3.95% pic.twitter.com/BiIClmUhGe
Balancer is launched on Optimism
Balancer Labs contributes to Balancer Protocol - the leading platform for programmable liquidity. Balancer has launched on the Ethereum Layer 2 network Optimism.
Beethoven X, Balancer's first friendly fork on the Fantom blockchain, led the front-end integration efforts.
— Balancer Labs (@BalancerLabs) June 2, 2022
LSD for solo validators
Liquid Staking is in talks recently and projects like Lido due to its widespread acceptance in the market has higher dominance in this domain which is a potential risk to the infrastructural roots of Ethereum Blockchain . So, in the same context Justin Drake along with Vitalik Buterin and Francesco has come up with a proposal briefing LSD for solo validators. The LSD is secured via hardware-based slashing protection and enjoys higher capital efficiency than Lido's stETH.
You can read the full proposalhere.
Read more
Read more about Ethereum in previous Bulletins -Ethereum Bulletin
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