EtherWorld Weekly: 25th February, 2023

Ethereum News, World News, Highlights of ACDC Call 103, Tech Articles, Podcasts, Tech Explainers, ELI5 Explainers, Client Upgrades, Events & Jobs

EtherWorld Weekly: 25th February, 2023


Ethereum News

4844 Specs includes KZG multi verify function
Bypass Capacitor is the fourth release for the upcoming Capella upgrade. While this release doesn't alter Capella's consensus logic, it does introduce some important changes and additions to the Consensus specs.

'0-Blob Txns' Omitted from EIP-4844 in Cancun Upgrade
Criticisms of 0-Blob Transactions, Advantages of Removing '0-blob' transactions, Free the blobs, SSZ Optional for blob transaction address & Beacon API spec updates

Coinbase launches its own layer-2 network for building decentralized apps
On Feb 23, crypto exchange Coinbase announced the launch of Base — an Ethereum layer-2 network. The company claimed that this new network will offer a low-cost, secure, developer-friendly environment for building decentralized apps (DApps) on the blockchain.

Only 0.04% of Ethereum validators have been slashed since 2020.
Only 226 validators have been slashed since Ethereum staking began, with 75 of those coming from a single event in February 2021.

Sepolia Shapella Announcement
Withdrawals are coming! The Shapella network upgrade will activate on the Sepolia network at epoch 56832, scheduled for 4:04:48 AM UTC on Feb. 28, 2023.

World News

SEC enforces full disclosure & investor protection rule on SaaS
SEC alleges Kraken to violate securities laws by failing to register the offer and sale of its “crypto asset staking-as-a-service program." Kraken will pay $30 million fine.

Coordinated global crypto policies: G20 key financial stability priority
India’s finance minister called for a coordinated effort “for building and understanding of the macro-financial implications,” which could be used to build global crypto reforms.

US agencies recommend old risk management principles for crypto liquidity
The joint statement highlighted the key liquidity risks associated with crypto-assets and related participants for banking organizations.

IMF offers Jordan’s central bank recommendations for implementing retail CBDC
The Central Bank of Jordan is closer to its next step toward a retail central bank digital currency (rCBDC) with the completion of an International Monetary Fund technical report on the country’s markets.

Spotify testing Web3 wallets integration
The users can access the token-enabled playlists from Overlord, Fluf, Mooonbirds and Kingship with their NFT wallets.

Highlights of Ethereum Devs Call

  • Withdrawal Devnet 7 was shut down yesterday. Testing was successful. Although, it was not running final client versions.
  • Whole end-to-end MEV-Boost system is running on Zhejiang Testnet. Builder specs are merged and updated.
  • There is now a builder API mock in Hive that allows Hive to do funky things like returning invalid payloads. With this, things like the circuit breaker can be tested.
  • EIP4844: Remove sending empty blobs sidecar responses was not in the latest CL release. It is still under discussion.
  • Sepolia Shapella upgrade will go live on February 28 and Next week's EIP-4844 Implementors Call will be skipped.

Watch Here

Tech Articles

Shapella Testing
Shapella Testing Timeline, Shandong Testnet, Withdrawals Devnets, Mainnet Shadow Forks, Zhejiang Testnet & Withdrawal Testing Techniques

Why Ethereum Clients prefer SSZ over RLP?
After The Merge, Ethereum uses two serialization formats for its two underlined layers. Execution clients use RLP, whereas Consensus clients use SSZ for data storage and transmitting.

Upcoming Changes to Ethereum Blockchain
This is the first developers AMA of 2023 featuring Ethereum Roadmap & Network Upgrades. Ethereum developers also discussed Privacy, Adoption and MEV.

How Warm COINBASE helps in Gas Cost Reduction?
EIP-3651: Client Implementation & Testing Status, Earlier Efforts: EIP-2929, EIP-2930, EIP-1559

Transient Storage for Beginners
EIP-1153: Need, Effects, Pros & Cons, Future Plans


The President of Palau | Network State Podcast with Balaji #3
The President of Palau and Balaji discuss how the tiny island country is becoming a digital leader, experimenting with everything from on-chain identity to drone delivery.

PEEPanEIP #100: ERC-4337: Account Abstraction Using Alt Mempool with Yoav Weiss
This proposal completely avoids the need for consensus-layer protocol changes. Instead of adding new protocol features and changing the bottom-layer transaction type, this proposal instead introduces a higher-layer pseudo-transaction object called a UserOperation.

The Polygon NFT Ecosystem with Frank (DeGods), Zhuoxun Yin (Magic Eden), & Stani Kulechov (Lens)
In this episode, Bankless team is talking to Frank DeGods, from the DeGods project, an NFT project that’s recently migrated to Polygon, Zhuoxun Yin, Co-Founder and COO of Magic Eden, an NFT marketplace also migrating to Polygon and lastly, Stani Kulechov, Founder and CEO of the Aave companies, which is bootstrapping Lens, a social media ecosystem on top of Polygon.

Common Knowledge with Shrey Jain
In this episode, Bankless team is speaking with Shrey Jain, an applied scientist with Microsoft, and talk through the depths and ramifications of the coming AI age.

Tether CoFounder Reeve Collins Talks Stablecoins, USDT, Crypto Regulations, NFTs, Metaverse, & Web3
Reeve Collins is the cofounder of Tether USDT and SmartMedia technologies. In this interview, Thinking Crypto Team discuss Tether USDT, stablecoins, crypto regulations nfts, metaverse, CBDCs, Web3, Bitcoin and much more.

Tech Explainers

Client Diversity
Execution Layer, Consensus Layer, Why there is a need for multiple clients?, Advantages & Risks

Reth: Ethereum Execution Layer Client Written in Rust
Why new client?, Goals, Reth Book, Launch Date & Akula

with Ethereum: EIP-4361
SSO, Problems in Web2 Vs Web3, Connect Wallet Vs Sign & Programming Languages

TWAMM: Time-Weighted Average Market Maker
Sandwich Attacks, Traditional Finance, TWAP, Arbitrage Traders & Constant Product Formula

MobyMask: An Initiative to Eliminate Phishers
Solidity Contract, Delegatable, Future, Reporters, Laconic Network & Goal

ELI5 Explainers

We have tried to explain common ethereum blockchain concepts in under 60 seconds.

  1. What is an Ethereum Account?
  2. Externally Owned Accounts (EOAs) Vs Contract Accounts
  3. What is an Ethereum Transaction?
  4. Ethereum Transaction Lifecycle
  5. What is Ethereum Validator?

Readers can follow more short videos here.

Client Updates




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