Eth News and Links
Mainnet execution layer
- Mainnet upgrades to London at block 12965000, 1-5pm UTC 4 August
- Latest core devs call. Notes from Tim Beiko:
- Rinkeby testnet upgraded to London
- gasPrice field will use effective gas price for mined EIP1559 transactions but field will eventually be removed; instead use effectivegasprice from the transaction receipt
- London-ready mainnet clients due to be released next week
- For average 15m gas in a block London miners would need to target 30m, as EIP1559 aims for 50% full blocks
- Geth and Erigon EIP1559 transaction pool sorting approaches
- Walkthrough of PoW switch off readiness checklist
- Planning approach discussion for PoW turn off, Shanghai upgrade and client maintenance
- Erigon receipt repair utility for receipt users who upgraded from 2021.06.04 to 2021.06.05
- Initial analysis of SELFDESTRUCT usage for Verkle Tree proposal which includes removing most of the self destruct functionality
- Migrate EOAs to validation focused smart contract wallets with EIP3074
- Address Space Extension working group call
- Piper’s notes on the header accumulator to use in the Portal Network
Proof of stake consensus layer
- Turning off Proof of Work: checklist of tasks before we can get rid of PoW forever
- First Beacon chain upgrade to Altair on a devnet has finalized
- Prototype of validator withdrawals: demo and tutorial using local testnet
- Proposal for smart contract triggered validator withdrawals
- Data shard block format proposal to allow several application data bundles to coexist in one blob
- Beacon Book: perspectives from Beacon chain researchers and implementers (Disclosure: bought an NFT)
Layer2
- Synthetix enabling exchanges on Optimism week of July 26
- Optimism stops subsidizing L2 gas fees and relaying user withdrawals, Synthetix giving WETH to existing users to cover several transactions
- Arbitrum Update: a few infrastructure projects that are dependencies for dApps are not yet live, single ERC20 bridge being used
- Concern that users won’t care about rollups when they launch
- Dispute resolution comparison of Optimism and Arbitrum
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Stuff for developers
- EthereumJS releases with finalized support for London upgrade
- Andre Cronje released 5 prototypes for learning and to inspire teams to form around them
- Local ERC20 balance manipulation using Hardhat, useful for testing with DeFi tokens
- EVM opcodes reference updated for London
- EthernautDAO aims to convert senior developers to Ethereum devs
- Build an NFT marketplace, using Next.js, Tailwind, Hardhat and Ethers.js on EVM testnet
- x * y = k AMM line by line explainer
Ecosystem
- Philip Daian: no official Flashbot software or materials for extracting MEV from reorgs
- Sandwich bots increasing in complexity, 4 transactions sandwiched
- ETH Global Hack Money 2021 finalists
- Etherscan displays EIP1559 savings per transaction
- Modeling Governance Extractable Value: DAOs have billion $ treasuries at stake
Enterprise
- Singapore and France central banks test cross border payment using simulated Singapore Dollar and Euro CDBCs on J.P. Morgan’s Onyx
Application layer
- Maker activates flash minting: 0.05% fee to flash mint up to 500 million DAI
- daistats.com shows total amount of collateral backing DAI and DAI minted by collateral type, < 35% of collateral backing DAI is USDC
- Reflexer Labs pilots self repaying RAI loans using reserves
- Leasing a Tesla with DeFi yield (Liquity and Curve staking)
- Andre Cronje launches bridge to Goerli testnet which would make it value-bearing and not a testnet
- Axie Infinity made >$1million in revenue in a single day, comparable with biggest AAA games
- OpenSea permissive approach to derivatives/homages, DMCAs still apply
- NFTX v2 creates liquidity for NFTs at the floor price
- Mooncat adds designer and boutique for accessories
Regulation/business/tokens
- USDC issuer Circle going public on NYSE, forecasts USDC in circulation of $35billion for 2021 and $194billion for 2023
- German regulator allows funds for institutions to allocate 20% of assets to cryptocurrencies
- Token Terminal adds price to earnings (P/E) ratio for protocols
- ETH liquidity crunch coming from staked Ether and EIP1559
- Tweetstorm of 24 reasons why ETH is undervalued
General
- China’s crackdown on mining: BTC difficulty adjusts down ~28%
- JPMorgan analysts expect blockchain staking rewards to reach $40 billion by 2025
- Kaspersky Password Manager previously used a PRNG not suited for cryptography, with current time single source of entropy
- Opsec vulnerability: online dating wrench attack
Job Listings
- NFT innovator SuperRare seeks Director of Eng following Series-A fundraise
- Sourcify looking for an experienced TypeScript developer
- Kwenta Open Position: Solidity Engineer
Want to reach people experienced with Ethereum? List your job here. $345 per line (~75 character limit including spaces), payable in ETH (or 345 DAI or 345 USDC) to abcoathup.eth. Questions? abcoathup at-gmail
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Permalink for this week’s issue: https://weekinethereumnews.com/week-in-ethereum-news-july-10-2021/
Dates of Note
Upcoming dates of note (new/changes in bold):
- July 15 – OpenZeppelin secure development series 1st of 6
- July 16 – applications close for ETH Summer undergrad program (virtual)
- July 20-22 – EthCC4 (Paris)
- July 21 – ETHécole Conference (Paris)
- July 25-31 – IC3 Blockchain Camp (virtual)
- July 26+30 – OpenZeppelin/ITBA free course for devs in Spanish
- July 30 – Aug 20 – ETHGlobal & Protocol Labs HackFS hackathon
- August 4 – London hard fork
- Aug 27-29 – Edcon (Shenzhen/online)
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