Week in Ethereum News

Eth News and Links

PeerDAS included in Pectra upgrade but with separate activation epoch, proposal to extend ENS to Layer 2 & Biden vetos congressional disapproval of SEC SAB 121

All core devs

• All core devs – consensus (ACDC) #134.  Notes from Christine Kim:
  • Pectra (Prague + Electra) upgrade:
    • Discussion on when/what to ship:
      • Options included splitting Pectra (Lodestar proposal) or replacing EIPs with PeerDAS
      • EIP7594 PeerDAS: included in Pectra but with separate activation epoch to allow moving to a later upgrade if needed
      • Blob size increase: no decision (blob target of 3 reached this week) 
      • EIP7688 change SSZ data to StableContainer: no decision, discuss at next ACDC, need more implementation progress
• Tim Beiko: process improvement proposals for All Core Devs, network upgrades & Eth Magicians, discuss at next ACDE

Pectra (Prague + Electra) upgrade

• Future of EOA/AA breakout #3: EIP7702 refinements to be merged, next breakout June 5 to discuss potential changes, ERC-standardized proxy contract & wallet best practices

Osaka + F starname upgrade

• Verkle progress, best case ~2025

Centralization watch: threatening the value of your ETH

• 🚨 Lido increased to 29%, too close to 33.3% threshold
• Client diversity (via clientdiversity.org):
  • Execution layer: Geth ~55% majority 
  • Consensus layer: Prysm 38%
  • Any client bug over 33.3% could mean loss of finality
• Better geographic diversity is optimal, particularly outside of North America & Europe

Layer 1

• Péter Szilágyi: full node space requirements, 800GB for blocks & receipts + 250GB for active state & Geth snapshots
• Proposed issuance reduction FAQ
• Blob impact on reorgs, increasing by 2.3 blobs increases reorg probability to 0.59%
• Gossipsup performance in P2P, average effectiveness ratio is more than 1:10 across topics
• Terence: delayed execution, benefit of pipelining consensus & execution in ePBS

Client Releases

• Execution layer:
  • Besu v24.5.2: default Bonsai storage mode to use code storage by code hash & use flat db and new RPC methods to get/set vanity extra data in a built block

For Stakers

• Obol staking mastery program to develop educational leaders

Layer 2

• Base gas target increased to 7.5 Mgas/s
• OP Stack custom gas token, beta
• Taiko live, plans to become optimistic-zk hybrid based rollup
• L2BEAT: Layer 3 projects TVL
• Ed Felten: selling MEV separately can give more revenue than shared MEV auctions
• Vitalik: Layer 2s as cultural extensions of Ethereum

EIPs/Standards

• EIPs:
  • EIP7716: Anti-correlation attestation penalties
• ERCs (application layer):
  • ERC7717: Deterministic AA wallet

Stuff for developers

• Compiler fingerprinting using bytecode-specific heuristics 
• Runtime Verification Simbolik: Solidity debugger VS Code extension, private beta
• 0xngmi Etherscan verification: verify an already verified contract on another chain
• RareSkills: guide to ABI encoding for function calls
• Ape v0.8.0 (Python contract framework): major refactor
• Tevm (TypeScript EVM toolkit): in browser devnet & Solidity scripting
• TracEVM: track values & addresses of slots in a contract
• R55: Rust contract compiled to RISCV bytecode run inside an execution client
• CTFs:
  • OpenZeppelin Ethernaut new level: Stake
• Red Guild: devcontainers, preconfigured dev sandbox in a Docker container

Security

• Normie token exploit on Base, via transfer function check for balance matching team wallet

Ecosystem

• ETHBerlin hackathon winners
• Devcon supporter program to assist impact teams with free tickets

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Job Listings

• Alchemy – Wallet Services: Engineering Manager and Full-Stack Engineer
• ChainSafe: Head of Protocol Engineering, DevRel – Sygma and more jobs
• Privacy and Scaling Explorations: ZK Circuits Engineer

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

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Onchain stats

• Gas fees (via ultrasound.money): 2.1 to 75.6 gwei, with 10.4 gwei average
  • Zero net issuance currently at 23.3 gwei 
  • 9k ETH net issuance this week
• ETHUSD: $3,712 – $3,959, currently $3,758
• ETHBTC: currently 0.056 (Flippening at ~0.16)

Notable at app layer

• ENS Labs ENSv2 proposal to extend to Layer 2 (either select an L2 or create their own)
• Uniswap Foundation postpone fee reward vote
• MEV scanner: reports amount of MEV for an address via website, X/Telegram/Discord bot

Regulation/business/tokens

• Biden vetos congressional disapproval of SEC Staff Accounting Bulletin 121 that precluded banks offering crypto custody
  • Democrats still doing anti crypto actions, despite recent campaign outreach 
• SEC ordered to pay $1.8M in legal expenses for “bad faith” crypto lawsuit
• US Treasury NFT risk assessment, rarely used for terrorist financing, susceptible to use in fraud/scams & being stolen
• SEC Commissioner Peirce proposes opening UK sandbox to US
• Former FTX executive Ryan Salame sentenced to 7.5 years
• Matter Labs (zkSync) applied for ZK trademark

General

• Vitalik: Bitcoin block size war reflections, embrace new tech or stagnate
• SPDZ: colab notebook for generic MPC scheme split into preprocessing & online phases
• Length Extension Attacks: hash functions using Merkle–Damgård construction are vulnerable
• Ticketmaster data breach via third-party cloud database provider
• Reminder: Week in Ethereum News (ES): Spanish translation of the newsletter

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END OF SERVICE: plan to deprecate Week in Ethereum News

Editor: @abcoathup
Follow @WeekinEthNews for the most clicked links
Permalink: https://weekinethereumnews.com/week-in-ethereum-news-june-1-2024

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Upcoming Dates of Note

(new/changes in bold)

• Jun 14 – EF EIP4844 data challenge deadline
• Jun 21-23 – ETHKyiv hackathon & conference
• Jul 8-11 – EthCC (Brussels) conference
• Jul 12-14 – ETHGlobal Brussels hackathon
• Jul 29-30 – EDCON Tokyo conference 
• Aug 2-4 – Ethereum Argentina conference & hackathon
• Aug 15-17 – Ethereum Uruguay hackathon & conference
• Aug 23-Sep 13 – ETHGlobal ETHOnline virtual hackathon
• Aug 23-26 – ETHTokyo hackathon & conference
• Aug 29-31 – ETHAccra hackathon
• Sep 5-8 – ETHWarsaw conference & hackathon
• Sep 9-15 – ETHSafari (Kenya)
• Sep 12-14 – NapulETH (Napoli)
• Sep 13-14 – Ethereum México
• Sep 20-22 – ETHGlobal Singapore hackathon
• Sep 26-27 – ETHMilan conference
• Oct 4-6 – Ethereum Kuala Lumpur conference & hackathon
• Oct 4-6 – ETHRome hackathon
• Oct 17-19 – ETHSofia conference & hackathon
• Oct 18-20 – ETHGlobal San Francisco hackathon
• Nov 12-15 – Devcon 7 – Southeast Asia (Bangkok)
• Nov 15-17 – ETHGlobal Bangkok hackathon

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