Summary
Ethereum News
Protocols take time to mature, predicts 2024 at the earliest for a secure decentralized rollup
There seems to be a great underestimation on how long new crypto protocols take to mature. E.g. I don't expect any smart contract rollup to be battle-tested, secure & decentralized till at least 2024, and the zkEVM stuff - not till 2025 at the earliest.Sure, they will be usable much before then (already are now), and it's possible Arbitrum gets to a pretty good state in 2023 - enough to shed the beta tag - but will I put any sizeable portion of my wealth on it? No, not till it's battle-tested and nearly as secure as Ethereum L1
Targeting Shanghai upgrade, network bandwidth testing will determine target blob sizes
EIP4844 will drive 10-100x fee reductions and higher transaction throughput for layer 2 rollups. It does this by introducing data availability to Ethereum in the form of "blobspace", which is purpose built for rollups. This change is critical for driving adoption of Ethereum - for example at Coinbase, “we see EIP-4844 as a key enabler for bringing our customers into the cryptoeconomy with a secure, easy to use experience that is faster and cheaper”.
Ethereum Bulletin
Nethermind's Proposal on Lido Passed!, EIP-5606: Multiverse NFTs, Nimbus v22.10.1, 98.4% Reduction in ETH Issuance, Execution Rewards now Displayed on Beaconchain
World News
Ethereum whales are busy accumulating ETH despite the ongoing bear market crunch . According to crypto analytics firm Santiment, Ethereum whales have collectively pocketed 3.3 million worth of ETH tokens in the past month.
Ethereum’s On-Trend Supply Appears To Be Dropping, Is ETH On Track To Become Deflationary?
Ethereum’s on-trend supply has dropped to levels significantly in the last 30 days. According to Ultrasound money, Ethereum has remained deflationary for the past month.
Fidelity Digital Assets To Allow Clients To Purchase Ethereum From Next Week
Fidelity Digital Assets will allow its clients to buy and sell Ethereum from next week onwards. The new feature was disclosed to customers via email. Ethereum’s transition to proof-of-stake likely contributed to this decision. The digital asset manager has been hiring aggressively in a bid to double its global headcount.
Ripple announced phase one of its EVM sidechain for XRP Ledger developed by Peersyst. The sidechain will enable the deployment of Ethereum-based smart contracts on Ripple’s XRP Ledger. The EVM-compatible sidechain is currently live on XRP Ledger devnet. Full deployment of the sidechain is expected in the second quarter of 2023.
Project Update
Fast G2 subgroup check in BN254
BLS12-381 is now universally recognized as the pairing curve to be used given our present knowledge. As probably know though BN254 4 is currently the only curve with precompiled contracts on Ethereum for elliptic curve addition, scalar multiplication, and pairings (EIP 196, EIP 197), this until the inclusion of EIP-2537.
sandwich bot for Uniswap v2, implemented in Rust & Huff
subway-rs is a port of libevm's original subway, implemented with ethers-rs and huff. Having highly optimized contracts is just one part of the equation, a tech stack is just as important as the contracts to execute on the opportunities. A pure-rust bot used to execute sandwich attacks on UniswapV2. The bot's goal is to act as a low barrier of entry for rust-based MEV development - Reference source code for aspiring new searchers. It's fast.
Tech Update
Execution layer Clients:
Consensus layer clients:
- Lodestar 1.1.1
Podcast
EIP-2535 Diamond Standard Now Finalized
EIP-2535 is now finalized, Ankr releases an app chain explorer, Flaave’s flash lending market is now live, Plaid releases Wallet Onboard, and StarkWare releases a new version of Voyager.
Rarible V2 Aggregated NFT Marketplace
Rarible introduces its V2 aggregated NFT marketplace, Socket launches a multichain explorer, Velodrome releases a contract call data tool, and the Ethereum Alarm Clock contract suffers a $260k exploit.
Blur launches a zero-fee NFT marketplace, Lattice releases an OP Craft voxel game, Binance delegates 13 million UNI tokens, and Slingshot launches its mobile wallet to private beta.
$ veCRV Holders To Receive $ crvUSD Interest
New details emerge about Curve’s native stablecoin, DeFi Saver adds support for Chicken Bonds, ChainSafe raises an $18.5 million Series A, and Azuki introduces an EIP for Physical Backed Tokens (PBT).
Optimism Introduces The OP Stack
Optimism introduces the OP Stack, zkSync integrates its end-to-end ZK Prover, SpruceID introduces EIP-5573, and Forta partners with Alchemy to provide tooling.
Jobs
- Ethereum Foundation seek a generalist ecosystem developer
- Join Llama to help build the future of protocol DAOs: Solidity and Backend
- Research scientist wanted for EF Robust Incentives Group
- frontend React/Typescript dev
Read more
Read more about Ethereum in previous Bulletins - Ethereum Bulletin
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