Summary
- Ethereum News
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Ethereum News
As the mainnet merge approaches, all the client teams have released their merge upgrades. You need to upgrade both Execution and Consensus layer clients and sync them together for the successful merge transition of your validator. Both these clients are needed to be implemented before the Paris upgrade on the mainnet which is in just a few days after the Bellatrix Hard fork.
Incentives of being Ethereum Validators
One of the major improvements the Proof of Stake transition of the Ethereum mainnet is bringing is the increased level of security with proper sanctions which will be provided/charged onto the validators for their behaviours as attestors. There is a system of rewarding or penalising those behaviours. Click on the title to learn more. For context, their types are here-
Rewards- Attestation rewards, Block Proposer rewards, Sync committee rewards
Penalties- Attestation penalties, Sync committee penalties, Inactivity leak, Slashing
Highlights of Consensus Layer Call #94
CL call 94 concluded with discussions about the Merge, issues with merge-client releases, MEV-boost and EIP-4844 updates with the developers take on Slashing.
The Evolution of Ethereum Testnets
One of our best blogs comprises an extensive research report on the evolution of the Ethereum testnets from genesis to the Merge upgrade is out now.
Special thanks to Tim Beiko, Péter Szilágyi, Marius van der Wijden and Pooja Ranjan for reviewing the report.
The Merge is the most complex upgrade to Ethereum to date and potentially to any public blockchain network ever. And with that comes tons of data to collect, data to visualize, tools to write, and things to explain so that researchers, developers, and community members can better understand the interworkings of the post-Merge network.
To kick off data exploration in this new paradigm, the EF is hosting an open competition between now and October 31st, 2022. Get started early if you want to compare pre and post Merge data!
Find all of the details here.
Ethereum Bulletin
Talks about - Merge Data Challenge live, Aztec crosses 20,000$ETH, Myria L2 live, Compound 3 launches on Ethereum, Arbitrum Nitro node new version released
Covers- 1st Ever AI Model Built on Ethereum $1 Million USD for Merge Bounties, WatchTheBurn Farewell, cbETH Released by Coinbase, Otterscan Ethereum Blockchain Explorer
Official Mainnet Merge Announcement, Client Releases to Support Merge. No Bugs in Nethermind Release, Geth Bug Resolved, Rust Implementation of Consensus Specs, 1hr Flashbots Protect Downtime
Merge Client Releases, Geth's merge- client release had a bug, Vitalik on what to build on Ethereum , Mining/Staking distribution BTC, ETH1 and 2, Swell Network is live on Ethereum
Merge Client Releases, DAppNode multiclient features, Crypto has gained more acceptance, Lido validator distribution, Metrics of new accounts formed on L2s, CryptoPunk Ethereum NFTs Floor Price Flips Bored Apes for First Time In 5 Months
World News
Reddit Starts Airdrop of Polygon-Based 'Collectible Avatars'
Reddit has begun giving away its Collectible Avatars, which are made of polygons, to users. Avatar selection from four sets has been requested of some users based on their website activity. Reddit has not identified its avatars as NFTs in its user communications, despite the fact that OpenSea, an NFT marketplace, lists them there. Earlier this year, Reddit offered a separate collection of avatars for purchase, with costs ranging from $9.99 to $99.99.
What does Ethereum's move to proof of stake mean for Polygon?
According to the company, every enhancement to Ethereum's settlement layer increases Polygon's influence. The merger makes Ethereum more environmentally friendly but has no impact on gas prices or speed. Even after the merger, scaling Ethereum's dApps and ecosystem will depend heavily on the Polygon network. In spite of the fact that Ethereum greatly benefits from Polygon's range of scaling solutions, including the recently unveiled Polygon zkEVM, Polygon still benefits from Ethereum's increased security and ecosystem expansion. In conclusion, Polygon will only benefit from the merge.
PayPal joins the TRUST Travel Rule Solution
PayPal has recently joined the Travel Rule Universal Solution Technology (TRUST) network, according to a recent announcement by Coinbase. The Travel Rule is a regulation that must be more frequently complied with, and TRUST is a worldwide, industry-driven solution that puts customer security and privacy first.
Terra founder Do Kwon discusses Terra/LUNA collapse
Do Kwon has revealed new details about Terra's collapse in his first interview since the event. He hinted that a leak in the company was partly to blame for the UST death spiral. The timing of the withdrawal of UST liquidity from the stablecoin's main Curve pool, which made it easier for the attacker to push UST off its peg, was only known by Terra employees. He denied that the Luna Foundation Guard's funds were used to cash out whales.
Project Updates
Coinbase Wants You to Register to Vote
A crypto policy education campaign by Coinbase attempts to enlighten the public about candidates, the regulatory environment for cryptocurrencies, and the broader political process. It contains a voter registration feature that, according to Coinbase, doesn't save any data on users. US lawmakers are now considering several significant pieces of legislation that could impact the future of cryptocurrency. According to a recent poll, voters prioritise the economy, gun control, healthcare, crime, and abortion.
Coinbase Derivatives Exchange to add Nano Ether Futures Contract
On August 29th, 2022, Nano Ether futures contract, the second cryptocurrency derivatives product offered by Coinbase Derivatives Exchange, will go live (ET). Several prestigious third-party retail brokers and clearing companies will provide ET futures for trading after it launches. As of August 24th, 2.9MM contracts had been traded in the Nano Bitcoin futures market (BIT), which debuted on June 27th.
Mastercard begins working with Binance
To facilitate purchases in more than 90 million stores, Mastercard is collaborating with Binance. The experiment will get underway in Argentina, where there is a 71% inflation rate for the national currency. In Brazil, VISA is introducing a prepaid card with rewards in bitcoin. Cryptocurrencies will be stored on the Ripio Card and converted to fiat by Ripio at the moment of payment. In the beginning, card holders will get a 5% payback in Bitcoin.
Binance Introducing ETH/BUSD Zero-Fee Trading
From August 26 to September 26 Binance is offering zero-fee trading for the ETH/BUSD spot trading pair. There will be no maker or taker fees for any users to employ when trading ETH/BUSD. The 30-day volume computation toward the Trading Fee Level for VIP customers will not include trading activity on the pair. The maker volume for the pair will not be included in the calculation for the Spot Liquidity Provider Program's maker volume.
Tech Updates
Execution layer Clients:
- Besu 22.7.1
- Erigon 2022.08.03-alpha
- Geth v1.10.23
- Nethermind v1.14.0
Consensus layer clients:
- Lighthouse Rick Prime
- Lodestar v1.0.0
- Nimbus v22.8.0
- Prysm v3.0.0
- Tekuv22.8.1
Podcast
EIP Editors Apprenticeship Meeting 24
Blockchain Events
- 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.
- Mainnet Shadow Fork 11 successfully happened
Job listing
Read more about Ethereum in previous Bulletins -Ethereum Bulletin
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