Ethereum Bulletin #96: Developments in the Ethereum and Crypto Space

TL;DR

• Scroll's First Step Towards Decentralization
• Aztec’s Commitment to Privacy and Decentralization
• Road to Devcon Events in Southeast Asia
• Arbitrum's Growing Ecosystem
• Ethereum L1 Sees Major Inflows and Outflows

Scroll's First Step Towards Decentralization

Scroll is launching its $SCR token, which is an important step toward becoming a decentralized platform. They’re creating a total of 1 billion of these tokens, and we’ll soon have the chance to get some through Binance Launchpool and an airdrop on October 22, 2024.

SCR enables us to decentralize Scroll’s governance, provers, and sequencer in our development roadmap, thus playing a critical long-term role in Scroll’s core protocol design.

Importantly, SCR opens up new design spaces and unlocks features that can improve user experience as…

— Scroll (@Scroll_ZKP) October 8, 2024

But what does this mean for us? Scroll aims to make it easier for everyone to access and use decentralized applications and services, which are safer and fairer. With the $SCR token, the community can participate in decision-making about how Scroll operates. As Scroll builds its infrastructure, this token will be crucial for enabling decentralized governance and enhancing the overall user experience. This is an exciting development that brings us closer to a more open and accessible internet!

Aztec’s Commitment to Privacy and Decentralization

Aztec has announced its commitment to merging privacy with decentralization, unveiling its roadmap for a fully decentralized and privacy-preserving network. The recent release highlights key developments, including the launch of the Aztec Devnet and the introduction of a unique programming language called Noir. These innovations are set to empower developers to integrate privacy features into their applications more easily.

1/ Aztec is committed to bringing privacy and decentralization together.

Imagine a world where developers can write programs that protect user data but take full advantage of a trustless, permissionless system.

That’s where we’re headed, and this product roadmap is how we’ll… pic.twitter.com/CqFb6qWSJB

— Aztec (@aztecnetwork) October 7, 2024

Road to Devcon Events in SouthEast Asia

Road to Devcon! A series of Ethereum events is buzzing across Southeast Asia, organized by local communities eager to share. With 14 events lined up, including workshops and talks, there’s plenty of opportunities to dive into the world of Ethereum.

The Road to Devcon is still ongoing.

With 14 events in SEA organized by the local communities before Devcon.

Many of them are multiple-day events and builder residencies.

Check them out below. pic.twitter.com/8LN9fkcXp9

— Deva the Devcon Unicorn (@EFDevcon) October 8, 2024

Whether you’re looking to learn more about blockchain or connect with fellow enthusiasts, this vibrant initiative has something for everyone. Don’t miss out on the chance to be part of the excitement leading up to Devcon!

Arbitrum's Growing Ecosystem

Event Horizon has officially launched on Arbitrum, marking its entry as an L3 blockchain in the Arbitrum Orbit ecosystem. This integration is set to enhance settlement speeds on their decentralized exchange (DEX) by 8x, providing users with a faster and more secure trading experience. With a user-friendly interface and no KYC requirements, traders can easily access the platform and enjoy features like copy trading, which is currently in development.

Event Horizon lands on @arbitrum ! 🚀

A truly decentralized trading space is now available as an L3 blockchain on the #ArbitrumOrbit chains universe.

The integration will accelerate settlement speed on our #DEX by 8x, all while ensuring the highest level of security throughout… pic.twitter.com/8muvPpHutZ

— Event Horizon (@EventHorizonDEX) October 7, 2024

Arbitrum is rapidly growing as the leading Layer 2 scaling solution for Ethereum. Dora has announced its support for Arbitrum, allowing projects to launch their own Layer 3 chains through Arbitrum's unique Orbit program. This initiative enables enhanced customization while ensuring the security of Ethereum, paving the way for a robust DeFi ecosystem.

🥰🤩🌱 Dora is growing! 🌱🤩🥰

Dora is now supporting @arbitrum ! As the leading Layer 2 scaling solution for Ethereum, Arbitrum is pushing boundaries with us, advancing the multichain future through its own Orbit program and unique scaling solutions.🌍✨ Here’s why we’re… pic.twitter.com/No9RvafF85

— Dora (@SearchOnDora) October 7, 2024

Ethereum L1 Sees Major Inflows and Outflows

In an intriguing observation, 83% of the value that migrated from Ethereum Layer 1 to the largest Layer 2s this year has made its way back to L1. As of now, the total outflows to Arbitrum, Base, zkSync, Optimism, and Starknet stand at $22.8 billion, with inflows amounting to $18.8 billion. This trend suggests that while users experiment with Layer 2s for yield farming and services, they still favor the security and decentralization that Ethereum L1 offers. It raises questions about the future utility of L2s as users balance the benefits of both layers.

👀 83% of the value that left Ethereum L1 for the largest L2s this year has been moved back to the L1.

Total YTD *outflows* to @arbitrum, @base, @zksync , @Optimism, and @Starknet = $22.8b

Total YTD *inflows* from the same chains = $18.8b.

Ecosystem flows data powered by… pic.twitter.com/hWOFmixfP8

— Michael Nadeau (@JustDeauIt) October 7, 2024

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