Eth News and Links
EF 2024 report & conflict of interest policy and Mekong testnet (Pectra public testnet) live
Eth R&D protocol call (All Core Devs)
- Execution layer focused protocol call (ACDE #200):
- Pectra upgrade:
- Pectra-devnet-4: testing planned during Devcon & will then be deprecated
- Pectra-devnet-5 spec:
- EIP7702: EXTCODE* delegation behavior removed
- Proposal to return fee from getter for EIP7002 & EIP7251 system contracts, review async, audits started
- Fusaka upgrade:
- Activate EOF/PeerDAS separately for testing: agreed to enable as separate consensus layer & execution layer upgrades
- EIP7801 eth/70 – sharded blocks protocol: proposal for short term alternative to integrating Portal Network to serve historical data
- EIP7610 revert creation for non-empty storage: EIP was previously retroactively included but some client teams have issues implementing, alternative to be proposed
- Pectra upgrade:
Pectra (Prague + Electra) upgrade
- Mekong testnet: Pectra public testnet with devnet-4 spec
- Weekly testing call #12: peerdas-devnet-4 & EOF devnet to be based on pectra-devnet-5 spec, ideally by the end of November
Fusaka (Osaka + Fulu) upgrade
- EVM Object Format (EOF) benefits for ZK proofs: benchmarks show 2.9x more efficient for total & interpreter cycles, runs 2.7x faster and proof size 2x smaller
Amsterdam upgrade
Layer 1
- Flashbots:
- rbuilder running in-process with Reth
- Parallel block building: backtesting shows better blocks 50% of the time in high MEV
Research
- 3-slot finality (3SF): finalize blocks within 3 slots using only one voting phase per slot, compared with single slot finality which uses three voting phases per slot
- Orbit single-slot finality design: proposal simplifies committee formation
- Random execution auctions (randEAs): mitigate multi-block MEV by auctioning proposing rights for a slot window but exact slot only assigned & revealed one slot in advance
- Full DAS analysis: fast sampling can be performed at scale, network can absorb large correlated failures but malicious majority attacks remain a challenge
Centralization watch: threatening the value of your ETH
- 🚨 Lido at 27.8%, still too close to 33.3% threshold
- Client diversity (via clientdiversity.org):
- Execution layer: Geth ~52% majority
- Consensus layer: Prysm 37% & Lighthouse 33.3%
- Any client bug over 33.3% could mean loss of finality
- Better geographic diversity is optimal, particularly outside of North America & Europe
Client Releases
- Execution layer:
For stakers
- Beaconcha.in v2 beta (explorer): real-time monitoring, custom validator groups and adds validator efficiency metric
- BuidlGuidl client: one line command to run Reth + Lighthouse
Layer 2
- Marius Van Der Wijden: EVM-semi compatible rollup design, higher throughput but higher trust assumptions
EIPs/Standards
- EIPs (Ethereum improvement proposals):
- RIPs (rollup improvement proposals):
- Meta RIP7810: RIP Purpose and GuidelinesÂ
- ERCs (application layer):
Stuff for developers
- Solar: Solidity compiler frontend in Rust; Apache/MIT license
- Devcon faucet: claim 100 testnet ETH for Mekong, Sepolia & Holešky using ticket on Zupass
- Etherscan EIP2535 Diamond proxy support, beta
- Wevm Ox v0.1 (TypeScript): unopinionated low-level utilities & types
- Convert Bank challenge CTF from Foundry to Tevm
- Coinbase OnchainKit NFTMintCard (React component): mint NFTs
- Micro-eth-signer v0.12.1: adds Verkle JavaScript implementation
Security
- Cross-chain token recovery: script to recover funds sent to a contract address on a chain where the contract didn’t exist and a list of projects that may be able to recover funds
Ecosystem
- EF 2024 report:
- Core values: long term thinking, subtraction & stewardship of values
- Spending:
- $105.4M in 2022: $38.2M internal & $67.2M external
- $134.9M in 2023: $50.2M internal & $84.7M external
- 22 EF teams
- Treasury:
- $970.2M (at Oct 31), $788.7M crypto (99.45% ETH) & $181.5M non-crypto; includes remaining 26,701 ETH for client incentive program
- EF conflict of interest policy v1: internal disclosures; discussion group to review prior to starting outside work above cap, angel investing, investing & co-founding; outside work paid in illiquid assets with unknown market value generally prohibited
- Justin Drake & Dankrad Feist drop EigenLayer advisorships
- Josh Stark: Ethereum’s distinctive property is hardness
- Evan’s dumbing down of Vitalik’s roadmap explainers: the Scourge
Enterprise
- Detroit to accept crypto for fees & taxes using PayPal in mid 2025
Job Listings
- Executive Director for Enterprise Ethereum Alliance
Job listings: $600 for 4 issues (75 char limit). Pay using 3cities. Questions? abcoathup at-gmail
Onchain stats
- Fees (via ultrasound.money):
- Gas: 1.9 to 84.4 gwei, 10.3 gwei average; zero net issuance at 24.3 gweiÂ
- 10.5k ETH net issuance this week
- ETHUSD: $2,374 – $2,976, currently $2,959, all time high $4,878
- ETHBTC: currently 0.039 (Flippening at ~0.164)
Notable at app layer
- Synthetix acquires Kwenta after spinning it out in 2020
- MakerDAO votes for Sky brand to stay
- Safe proposers: authorized addresses can prepare transactions for owners to review
Regulation/business/tokens
- Michigan pension fund buys more ETH than BTC via ETFs
General
- Okta vulnerability for usernames above 52 characters
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-november-9-2024
Upcoming Dates of Note
(new/changes in bold)
- Nov 12-15 – Devcon 7 – Southeast Asia (Bangkok)
- Nov 15-17 – ETHGlobal Bangkok hackathon
- Dec 4-5 – Columbia CryptoEconomics workshop (New York)
- Dec 6-8 – ETHIndia hackathon
- Jan 30-31 – EthereumZuri.ch conference
- Feb 23 – Mar 2 – ETHDenver
- May 9-11 – ETHDam (Amsterdam)
- May 30 – Jun 4 – ETH Belgrade hackathon & conference
- Jun 12-13 – Protocol Berg (Berlin)
- Jun 16-18 – DappCon (Berlin)
- Jun 26-28 – ETHCluj (Romania) conference
- Jun 30 – Jul 3 – EthCC (Cannes) conference
Sign up to receive this newsletter weekly