Week in Ethereum News
May 11, 2024

Eth News and Links

All core devs – execution (ACDE)

  • ACDE #187 call video.  Recap from Tim Beiko.  Notes from Christine Kim:
    • Pectra-devnet-0: launch early next week, some client teams completed implementations
    • EIP7702 set EOA account code for one transaction: successor to EIP3074, aimed at improving EOAs and aligned with ERC4337 account abstraction
      • Broad support for including in Pectra
    • SSZ priority: client teams didn’t support changing to SSZ in Pectra
    • EOF: Meta EIP & EIP7698 creation transaction added to Pectra considered for inclusion
    • EIP7623 increase calldata costs: gas sheltering concerns theoretically possible but deemed not viable
    • Reentrancy protection: EIP7705 reentrancy opcodes proposed to lower protection cost

Pectra (Prague + Electra) upgrade (meta EIP7600), small fork targeting late 2024

Centralization watch: threatening the value of your ETH

Layer 1

  • Account abstraction breakout #2 call video
    • Native account abstraction on Layer 1 not expected for several years (after Osaka upgrade)
    • EIP7702 succeeds EIP3074, account abstraction aligned with form factor of EIP5806 (new transaction type) & user experience of EIP3074
    • Discussion on need for chain ID & nonce in EIP7702
  • Vitalik: multidimensional gas pricing
  • History growth viz: history growing ~8x faster than state, nodes using 2TB drives will need to upgrade in 2-3 years unless EIP4444 adopted to halve the storage burden
  • Builder market centralization: private order flow & why builders win blocks


Client Releases

  • Consensus layer:
    • Grandine v0.4.0/1: optimizations, new attestations packer, in-memory mode, improved compatibility with other validator clients, integrations with Eth-docker & Ethereum on Arm
  • Execution layer:
    • Geth v1.14.3: block processing & RPC API improvements

For Stakers

Layer 2


  • EIPs:
    • EIP7702: Set EOA account code for one transaction
    • EIP7703: Increase calldata cost (alternative to EIP7623)
  • ERCs (application layer):

Stuff for developers


  • Bloom $600k exploit on Blast related to rebasing yield, 90% of funds recovered


Job Listings

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

Onchain stats

  • Gas fees (via ultrasound.money): 2.6 to 28 gwei, with 5.6 gwei average
    • Zero net issuance currently at 23.3 gwei 
    • 13k ETH net issuance this week
  • ETHUSD: $2,888 – $3,202, currently $2,914
  • ETHBTC: currently 0.048 (Flippening at ~0.16)

Notable at app layer

  • Fantasy.top (CryptoTwitter fantasy sports game) 50% of mainnet NFT volume 
  • Tokenize.it Crowdinvesting: security tokens for German limited liability companies
  • BlackRock-backed Securitize applies for Arbitrum RWA incentives
  • Zora acquired mint.fun
  • Splits v2: adds push flow, split can hold any token and splitters & token storage are separate



END OF SERVICE: plan to deprecate Week in Ethereum News

Editor: @abcoathup
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Permalink: https://weekinethereumnews.com/week-in-ethereum-news-may-11-2024

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