EtherWorld Weekly: August 14, 2022

Highlights of CL call 93, dates of Ethereum merge, Nimbus Guide, Ethereum Bulletin, Tornado cash, Maker DAO calls on DAI, Polygon launching web3 gaming and much more

EtherWorld Weekly: August 14, 2022


Ethereum News

Highlights of Ethereum Consensus Layer Meeting 93

In the last CL call the developers talked about the Goerli Merge, Terminal Blockhash updates, placeholder for CL and EL clients and Mainnet Bellatrix epoch and TTD.

Ethereum Proof of Stake transition tentative date announced

On September 15 or 16, Ethereum's transition to Proof-of-Stake is most likely to take place. During a consensus layer call on YouTube channel of the Ethereum Foundation, its core devs decided to submit a pull request to change the network to Proof-of-Stake. The developers were able to decide on a date for the actual Merge after the final test Merge with the Goerli testnet proceeded smoothly. The energy consumption of Ethereum will be significantly reduced after the Merge.

The Road Ahead for Ethereum Light Clients

"Decentralization matters. And this includes expanding access to trustworthy data."

With this motto Lodestar an Ehereum consensus layer client has released a blog-post explaining the same.

The Nimbus Guide

Nimbus is a client for the Ethereum execution layer(eth1) and consensus layer (eth2) . It is effective and uses limited resources, making it compatible with any device, from powerful servers where it frees up resources to run other activities like running an execution node to Raspberry Pis and mobile devices where it contributes to low power consumption and security. This book describes how to use Nimbus to either keep track of the beacon chain or develop into a full-fledged validator.

Ethereum Bulletin

Ethereum Bulletin #56

Covers- Goerli merge, Guide on using Nethermind after the Merge, Introducing Ingonyama - zk proofs, Metamask incorporates new changes, Overview of Scroll's Roller Network, GameStop wallet is now fully integrated with Immutable X, Magic Eden Wants to Build an ApeCoin NFT Marketplace Just for Bored Apes

Ethereum Bulletin #55

Talks about - Goerli/Prater merge predicted for Aug 11, Roadmap to the mainnet merge, Merge community call, Recap of all the Shadow Forks, Vitalik on using Stealth Addresses for ERC721s, Ground up guide to rollups, Tornado Cash banned by US Government

World News

Crypto-Mixing Service Tornado Cash banned by US Government

The department of U.S. Treasury banned using of Tornado Cash, alleging that it poses a national security risk because of its role in Korean hackers' laundering of stolen crypto funds. Tornado Cash has been the go-to mixer for cybercriminals looking to launder the proceeds of crime.

BlackRock is Offering Spot Bitcoin Exposure

A private trust has been established by BlackRock to give institutional investors exposure to Bitcoin. Investors can purchase and sell Bitcoin at the going rate on the spot market. The first trust from BlackRock to provide institutional US-based clients with direct BTC exposure. To provide access to digital assets for its clients, it just joined with Coinbase.

MakerDAO Founder Calls on DAI to Drop Dollar Peg

The creator of MakerDAO has initiated a debate over whether DAI will be depegged from USDC via the protocol. A recent freeze on USDC from 38 wallets sanctioned in relation with the Tornado Cash ban was carried out by Circle, the central organisation that controls USDC. Technically, the corporation was not required to freeze such cash, but it did so out of an abundance of caution to prevent problems with the US authorities. Many other protocols are thinking about lowering their USDC exposure.

Project Updates

Polygon to launch Web3 gaming platform

A web3 game platform named Intella X has been launched in collaboration by Neowiz, based in South Korea, and Polygon. Initially, Intella X will offer two social casino games. In 2023, it intends to release further games as well as a profile image NFT project. The platform is set up so that contributors to the ecosystem would receive a portion of all revenue earned. Users can participate in a variety of ways, such as through betting, offering liquidity, or participating in games.

Coinbase's 2022Q2 earnings

The decline in Coinbase's earnings is consistent with the overall crypto market. They most likely generated genuine revenue of about $650 million in the most recent quarter, core expenses of about $1.4 billion, plus an impairment of $400 million. Payroll and bonuses most likely account for the majority of its losses. Coinbase pays its around 5,000 full-time employees almost $4 billion annually.

Polkadot Now Has a Decentralized Version of 'Wrapped' Bitcoin

Interlay has released InterBTC, a wrapped bitcoin token (iBTC). Wrapped tokens are tokenized variations of digital assets that are not a part of the blockchains on which they are present. Through a bridge, iBTC enables individuals to utilise Bitcoin on DeFi applications on Polkadot. Ethereum, Cosmos, Solana, Avalanche, and other DeFi networks will be added to Interlay's iBTC expansion.

CreatorDAO is finally coming out of stealth and announcing $20MM round

With an emphasis on content creators, CreatorDAO intends to be the web3 equivalent of venture capital firm Andreessen Horowitz. Those who apply to the DAO will have access to the mentoring, counsel, and support of the DAO's other members. In a recent seed fundraising round, $20 million was raised by CreatorDAO. Paris Hilton, the Chainsmokers, and Andreessen Horowitz are a few of its backers. The centralization of CreatorDAO is still present and will remain so until a core group of mentors is assembled.

Tech Updates

No EL Clients release this week

Consensus layer clients:


Merge Community call 6

Listen to core devs talking about the Goerli and mainnet merge updating about the TTD and the Bellatrix etc.

Teku and TheMerge with Adrian Sutton

The topics covered in this meeting includes a little introduction about the client, Flexible deployment, REST APIs, Preparing Teku for TheMerge etc.

Blockchain Events

  • Tentative TTD for mainnet merge is going to be about 58750000000000000000000 which will hit on mainnet on Sept 15.
  • Proposed Bellatrix epoch is 144896, slot 4636672 as it aligns with the historical block root accumulator well, as of now this is scheduled on Tuesday, 6 September at 11:34:47 UTC.
  • Goerli transitioned to PoS successfully.

Job listing

Read more about Ethereum in previous Bulletins -Ethereum Bulletin

Related articles


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