EtherWorld Weekly: October 10, 2022

Reversible Ethereum ERC20, Proposal to add blockTimestamp, Ethereum Bulletins, L2 arbitrum, Ethereum Index fund, Maker DAO's investment

EtherWorld Weekly: October 10, 2022


Tech Articles

Ethereum Post-Merge Hardfork for Execution Layer

In Ethereum's All Core Devs Meeting #147, client developers discussed the PoW Side of Fork. This was the first post-Merge ACD meeting. On the day of the upgrade, i.e., on 15th September 2022, ~25 blocks were observed to be mined using pre-merge Geth releases. The Merge Geth release was optional for miners, but if used, it would have stopped mining once TTD was hit. However, the number of mined blocks dropped significantly. It appeared that miners kept mining past the first TTD block until finalization with a hope that there's still a chance a validator would pick theirs over another one, as it's an uncle block. This led to a discussion on the Fork ID of the chain and EIP-2124.

Ethereum News

The State of Crypto Adoption in India

Despite the vulnerabilities in cryptocurrency guidelines, Indian crypto traders and builders are still optimistic about cryptocurrencies. Since crypto is yet another innovation, making regulations for it will require an investment. India has the fastest-growing cryptocurrency market in the world, according to a recent survey. Over the past few years, it has developed rapidly, faster than in other countries. As long as India keeps moving forward in this direction, it will play a major role in the future of cryptocurrency. Due to the country's dynamic local area and its decision-making government, the future of cryptocurrency in India looks bright. There is currently a policy being formulated by the Indian government regarding Web 3.0.

What Ethereum did to the environment that other blockchains could not?

Ethereum’s recent transition to Proof-of-Stake has left Bitcoin and many other cryptocurrency under scrutiny of the environment institutions. The latest research published last week by Scientific Reports states that “Bitcoin mining contributes as much to climate change as the beef or crude oil industry”. Environmental cost of mining digital currency is huge as it uses a heavy amount of electricity, which sometimes involve fossil fuels.

Reversible Ethereum ERC20 And ERC721 Tokens Proposed By Standford Researchers

Stanford researchers recently unveiled a plan to build two new Ethereum token standards to combat asset thefts ad hacks in decentralized finance. The tokens will feature reversible transaction functionality when specific conditions are met, per the proposal. In cryptocurrency, a token standard refers to a set of rules hard-coded into a smart contract. These rules give the coin its identity, specific characteristics, and power smart contract compatibility across the digital asset ecosystem.

Proposal to add blockTimestamp to logs returned by eth_getLogs

Currently, most contract events that act on the notion of time do not add timestamp information as it is already available on the block where the event occurs. This saves them the extra gas cost of adding timestamps to the events. Unfortunately eth_getLogs do not provide the timestamp as part of the log objects returned. And so indexers that fetches these events using eth_getLogs, need to make one extra request for each different block to get the timestamps at which these events happen. This significantly reduces the speed at which such an indexer can compute the state from the events. With an eth_getLogs you can get thousands of events and process them but for events that require timestamp information, you indeed currently need to perform thousands of requests more for it.

Second stage findings of gas cost estimation research using marginal execution cost

"Gas Cost Estimator", a method of estimating gas costs of EVM OPCODEs by means of estimating their marginal execution cost is proposed. It provides arguments for this method to be a feasible way of assessing the costs of EVM OPCODEs. The procedure to obtain the measurements is also standardized and tooling is provided.


Ethereum Bulletin

Ethereum Bulletin #78

Beware of orphaned blocks, takeWise V3 - a major upgrade to the StakeWise protocol , New version of ERC 4337 released, Eth-utils Releasing today, September was a record-breaking month for ENS

Ethereum Bulletin #79

Account Abstraction: New version of ERC-4337 released!, Rinkeby & Ropsten testnet Explorers Deprecated!, Nethermind Release v1.14.3, SEC Charges Kim Kardashian for Unlawfully Touting Crypto Security, GitPOAP for Ethereum Project Management Repo Contributor in 2022

Ethereum Bulletin #80

Lens Protocol x ENS, Blockscan Updates, Erigon Release 2022.10.01, Goerli Validator Deposit Made Easier, Ethereum Transaction Viewer

Ethereum Bulletin #81

Dappland by Argent, Nethermind Working on ProtoDankSharding, Besu Release 22.7.5, Message Logs Available on StarkScan, EIP-5744: Latent Fungible Token

Ethereum Bulletin #82

Coinbase Supporting EIP-4844, Nimbus Release 22.10.0, TWAMM Research: September 2022, Schedule for Protocol Roadmap Session Live!, Erigon Release 2.27.0

World News

Largest Ethereum staking service, LIDO, launches on L2 arbitrum and optimism

Lido Finance has announced that it is now available on Layer-2, and users could bridge their staked Ethereum to Layer-2 protocols to benefit from lower gas fees. The team tweeted the development on October 6, saying it had been working towards “a full L2 roll-out to support the expansion of Ethereum while providing access to unique strategies possible through liquid staking.” Lido now allows ETH staking directly on Layer-2 with token bridging to Arbitrum One and Optimism — two popular Ethereum scaling solutions.

$5 Million Ethereum Index Fund Debuted By Fidelity

Fidelity announced a new Ethereum index fund per details from a filing with the Securities and Exchange Commission. The mammoth asset manager boasts around $5 million in investments for its latest crypto offering. Galaxy Digital CEO Mike Novogratz hinted that the company might provide retail exposure to Bitcoin soon.

DeFi Economist David Shuttleworth Lauds Ethereum’s Efforts, Says “ETH Is The Foundation Of The Internet.”

The DeFi economist at Consensys, David Shuttleworth, is bullish on Ethereum. In an interview with Kitco, Shuttleworth noted how Ethereum processes far more transactions than Visa. In his latest interview with Kitco, the leading DeFi economist at ConsenSys, David Shuttleworth, has praised Ethereum. Shuttleworth noted how post-merge Ethereum has levelled up dramatically and can be dubbed “the foundation of the Internet.”

Projects Update

Maker DAO $1 million bond investment pilot

MakerDAO just executed the first DAO balance sheet investment in US Treasuries and Corporate bonds with a ceiling of $500 million USDC.

DeFi Saver Compound v3 support with automation and notifications

Compound first launched on Ethereum mainnet in 2018, introducing the concept of a money market protocol and quickly becoming a staple of decentralised finance, shoulder to shoulder with Maker.

Aztec integrates Euler using ERC4626 bridge

Tech Update

Execution layer Clients:

Consensus layer clients:


Binance Chain Paused Amid $560 Million Exploit

Binance Chain pauses the network amid a bridge exploit, new EU sanctions prohibit crypto payments to Russians, Coinbase dedicates resources to EIP-4844, and zkSync will undergo a testnet regenesis.

deBridge Announces deSwap Liquidity Network

deBridge announces the deSwap Liquidity Network, Etherscan releases updates for Blockscan Chat, Liquity releases Chicken Bonds, and Optimism shuts down its Kovan testnet.


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Read more about Ethereum in previous Bulletins - Ethereum Bulletin

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