Week in Ethereum News January 13, 2024

Dencun (Cancun + Deneb) upgrade (meta EIP7569)

Latest all core devs – consensus (ACDC) call video. Notes from Christine Kim:
- Goerli shadow fork 2: stable network with blob spamming using Goerli client releases
- Fork choice filter change: to be included in Deneb
- Consensus layer priorities: discuss next call, proposed Electra EIPs & PeerDAS
Dencun interop testing call video
Ephemery testnet upgrades to Dencun January 18
Goerli testnet upgrades to Dencun January 17
- Bug bounty doubled for Dencun specific vulnerabilities, up to $500k

Client releases for Goerli testnet Dencun upgrade

Centralization watch: threatening the value of your ETH

🚨 Lido at 31.84% is far too close to 33.3% threshold
- Social action options to tackle a concentrated actor
Client diversity (via clientdiversity.org):
- Execution layer: Geth 84% supermajority, could possibly cause a chain split
- Consensus layer: Prysm 41%, any client bug over 33.3% could mean loss of finality
Better geographic diversity is optimal, particularly outside of North America & Europe

Layer 1

Increasing gas limit debate:
- Péter Szilágyi: need monitoring & metrics before making a change
- Marius van der Wijden: risks include missed block rate, state size, history size, sync times & client diversity
- Ansgar Dietrichs: EIP4844 is equivalent of ~11M additional gas
- Dankrad Feist: wait until after Dencun, then also increase calldata cost & number of blobs
- Vitalik: modest increase is reasonable
Besu halted on mainnet January 6, ~70% of Besu nodes impacted, hot fixed
Reth state & history growth dashboard
Nethermind State Database experimental approaches: Paprika, Path-Based Storage & Halfpath
Explainers: EIP7002 (execution layer triggerable exits) & EIP7251 (increase max effective balance)

Research

EF Research team AMA, discussions include: EIP4844 data publishing without scaling, composability across rollups, Lido, security budget, capping signatures to 8192 per slot, gas limit increase, native (enshrined) rollups, EigenLayer, MEV burn & EIP7251 (increase max effective balance)
Staking economics: issuance impact on staking equilibrium & reward curve options

MEV

Proposals for relay incentivization: low-latency relay mesh network and enshrining missed slot penalty on proposers

Layer 2

OP Stack Canyon upgrade live on Superchain mainnets, adds Shappella support (including PUSH0), reduces rate of basefee change & adds Create2Deployer
RollCall (L2 standards) video & notes: RIP7212 (R1 precompile) made final, EIP7587 (reserve RIP precompile addresses) discussion and RIP working groups (precompiles, EIP4844 testing & fee markets)

EIPs/Standards

EIPs
- EIP7591: BLS signed transactions
- EIP7592: Precompile for Falcon signature verification
- EIP7594: PeerDAS (peer data availability sampling)
ERCs (application layer):
- ERC7589: Semi-fungible token roles
- ERC7590: ERC20 holder extension for NFTs
- ERC7593: NFT synthetic evidence

Stuff for developers

Remix v0.40.0: Ape framework Vyper compiler, Uniswap v4 templates & Circom v2.1.6
GasliteNFT (ERC721 base contract): extends ERC721A with Ownable2Step & MerkeProofLib
RareSkills: Compound v3 explainer
Equivalence checking with Halmos
Evm-inspectors: Revm Inspectors for Parity & Geth style traces and JS Inspector
Wevm Vocs: React-based static documentation generator, content in Markdown or MDX

Security

Ecosystem

Optimism’s RetroPGF round 3 results, 30M OP allocated to 501 builders & creators

Enterprise

Onchain stats

Gas fees (via ultrasound.money): 9.2 to 483.5 gwei, with 26.2 gwei average
- Zero net issuance currently at 21.9 gwei
- 3.2k ETH net burn this week
ETHUSD: $2,185 – $2,698, currently $2,497
ETHBTC: currently 0.06 (Flippening at ~0.16)

Notable at app layer

USDC & EURC v2.2 upgrade complete: reduces gas costs & supports ERC1271
OpenSea email onboarding: create non-custodial wallet via email address using Privy
Simon de la Rouviere See You There: 1 of 1 NFT, records holders over 5 years
Speedtracer (daily mini game) live on Base, trace a race track & mint highest score

Job listings: $600 for 4 issues (75 char limit). Pay using 3cities. Questions? abcoathup at-gmail

Regulation/business/tokens

SEC approves BTC ETFs
- Commissioner Peirce: “squandered a decade of opportunities”
- SEC Twitter account was compromised via a phone number without 2FA
Circle filed for IPO
New York DFS settles with Genesis for compliance failures, $8M penalty & cease operations in the state

General

Follow @WeekinEthNews to find out what the most clicked links are. Follow @abcoathup and @evan_van_ness to get most of the week’s news in real time.

(new/changes in bold)

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