Week in Ethereum News
June 29, 2024

Eth News and Links

SEC charges Consensys, US Supreme Court overrules Chevron deference and Reth (Paradigm’s Rust execution layer client) is production ready

All core devs

  • All core devs – consensus (ACDC) #136:
    • Presentation on private sharing of client info by validators research
    • Péter Szilágyi: proposal to cross validate with other execution layer clients statelessly (before Verkle) and change engine API encoding from JSON to SSZ
    • Pectra (Prague + Electra) upgrade:
      • pectra-devnet-1: waiting on execution layer clients
      • EIP6110 validator deposits onchain: proposal to rate limit deposit processing
      • EIP7594 PeerDAS: peerdas-devnet-1 launched with 3 consensus layer clients, discussion on decoupling layers for blob count
      • EIP7688 SSZ StableContainer: devnet running but not all clients have implemented, no decision yet on including in Electra 

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

  • Future of EOA/AA breakout #5: EIP7702 delegation designation proposal to be merged next week
  • PeerDAS breakout #2: passing max blobs per block is preferred solution for decoupling layers, value should be configurable and fetching from execution layer pool experiment

Centralization watch: threatening the value of your ETH

Layer 1


Client Releases

  • Consensus layer:
    • Lighthouse v5.2.1: small fixes for sync & backfill
    • Nimbus v24.6.0: SHA256 hashing 30% faster, avoid slashing when validator key sharing improperly configured, adds block scoring and enables block monitoring by default
  • Execution layer:
    • Erigon v2.60.2: fixes
    • Reth (Paradigm) v1: production ready; sync from genesis in ~50 hours, 2.3TB archive node

Layer 2

  • Arbitrum Timeboost proposed, auction for express transaction submission (non-express transactions have a short delay), proceeds will either be in ARB (burnt) or ETH (collected)
  • Flashbots: MEV on L2s
  • Offchain Labs BlobWatcher: monitor transaction pool for blob transactions
  • Blast phase 1 airdrop, goes in at $2B FDV
  • L2Beat ZK Catalog: code verification of onchain ZK verifiers

For Stakers


  • EIPs (Ethereum improvement proposals):
  • RIPs (Rollup improvement proposals):
  • ERCs (application layer standards):
    • ERC7729: Token with metadata (ERC20 extension)
    • ERC7730: Structured data clear signing format

Stuff for developers



Job Listings

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

Onchain stats

  • Fees (via ultrasound.money):
    • Gas: 1.2 to 31.4 gwei, 4.5 gwei average; zero net issuance at 23.5 gwei 
    • 13k ETH net issuance this week
  • ETHUSD: $3,259 – $3,516, currently $3,385, all time high $4,878
  • ETHBTC: currently 0.056 (Flippening at ~0.16)



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Editor: @abcoathup
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Permalink: https://weekinethereumnews.com/week-in-ethereum-news-june-29-2024

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