Week in Ethereum News June 15, 2024

Electra upgrade scope not finalized yet, Devcon ticket dates and Curve liquidations

All core devs

All core devs – consensus (ACDC) #135:
- Pectra (Prague + Electra) upgrade:
  - pectra-devnet-1: consensus layer client teams expect to be ready in 1-2 weeks and agreed to append committee bits field to end of attestation
  - EIP7594 PeerDAS: building on top of Deneb upgrade for now rather than Electra, aim for peerdas-devnet-1 in 2 weeks
  - Blob count increase: discussion on increase with/without PeerDAS or PeerDAS without an increase, needs analysis on devnets and proposal to uncouple blob count from execution layer
  - SSZ: EIP7688 change to SSZ StableContainer: devnet planned before next ACDC to help decide whether or not to include in Pectra
- Naming F-starname upgrade discussion for upgrade after Electra

Pectra (Prague + Electra) upgrade, likely targeting Q1 2025

Consensus-specs v1.5.0-alpha.3: specs for pectra-devnet-1
PeerDAS breakout #1: client implementation progress, proposal to move max blobs to config & uncouple blob count from execution layer, keep activation logic same for devnet-1 and bandwidth concerns for home stakers

Centralization watch: threatening the value of your ETH

🚨 Lido at 28.75%, still 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

Toni Wahrstätter: MEV-Boost users are reorged less & can better handle 6 blob blocks compared with non MEV-Boost users but they include less blobs as not incentivized
Parithosh: proposal to use torrents for distributing pre-merge data (EIP4444 history expiry)
Vitalik: inclusion list proposal using one-bit-per-attester
Potuz: preconfirmation designs compatibility with proposed ePBS

Client Releases

Consensus layer:
- Lighthouse v5.2.0: adds in-memory tree-states, optimized epoch & block processing and execution client version in graffiti
Execution layer:
- Besu v24.6.0: Java v21 now minimum version and historic trie log data removed by default

For Stakers

Reth + Prysm archive node on $189 NanoPC-T6 board using ~10w
Lighthouse attestation simulator: Prometheus metrics for use with Grafana to track Beacon Node performance; suggests running in APAC impacts performance

Layer 2

OP Stack fault proofs live on OP mainnet, now a stage 1 L2 (limited training wheels)
RIP7212 secp256r1 precompile deployment status on L2s
ZKsync airdrop, GitHub users need to associate an address
Based preconfs live on devnet

EIPs/Standards

EIPs (Ethereum improvement proposals):
- Meta EIP7723: Network upgrade inclusion stages
RIPs (rollup improvement proposals):
- RIP7724 (clone of EIP7667 for zk rollups): Raise gas costs of hash functions
ERCs (application layer standards):
- ERC838 (resurrected): ABI specification for REVERT reason string
- ERC7720: Deferred token transfer (ERC20)
- ERC7721: Lockable extension for ERC1155
- ERC7722: Opaque token

Stuff for developers

Foundry show-progress flag: live progress of fuzz & invariant tests
Remix v0.50: QuickDapp plugin to create basic front end for contracts
Quantifying code complexity: CK, Martin & Halstead metrics using Slither printers
Guide to create a simple Solidity linter using Slang (Nomic Foundation’s compiler APIs)
RareSkills: ERC7201 namespaced storage layout explainer
Scaffold-ETH-Svelte: Scaffold-ETH v2 port to Svelte
EF JavaScript team roadmap
Data Always PBS snapshot (Python script): create MEV data snapshots

Security

UwU (Aave v2 fork) $23M exploit via oracle manipulation
- A further $3.7M stolen after unpausing protocol
Loopring smart wallet exploit via compromised 2FA service for wallets with only the Loopring guardian

Ecosystem

Devcon tickets & tracks:
- Ticket raffle/auction starts June 18, discount applications open July 9 & general admission waves start July 16
- Speaker applications open July 9
Clr.fund Southeast Asian Ethereum communities quadratic funding round

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

Onchain stats

Gas fees (via ultrasound.money): 2.4 to 104.0 gwei, with 10.7 gwei average
- Zero net issuance currently at 23.5 gwei
- 9.7k ETH net issuance this week
ETHUSD: $3,367 – $3,713, currently $3,480, all time high $4,878
ETHBTC: currently 0.053 (Flippening at ~0.16)

Notable at app layer

Curve co-founder Michael Egorov liquidated, triggered by UwU exploit, causing ~$10M of bad debt which he has already repaid
100x (perps) live on Blast, up to 20x leverage on ETH & BTC, with Blast gold for orderbook liquidity [Starbloom portfolio]
Uniswap Labs acquired Crypto: The Game (onchain Survivor)

Regulation/business/tokens

SEC Chair Gensler “envision[s]” spot ETH ETFs S-1s to be approved over US summer but dodges question of whether ETH is a commodity
Alex Pertsev attempting to be released while he appeals

General

Privacy and Scaling Explorations trusted setup ceremonies via a browser:
- Anon Aadhaar v2
- Semaphore V4 phase 2

END OF SERVICE: plan to deprecate Week in Ethereum News

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