Seven Day Talk on Ethereum• 2020/4/26

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Eth2

➤ Beacon chain first accident

Eth2 Progress UpdateEth2 Progress Update。

This seven-day talk aims to provide some additional information from Prysmatic Labs.

Prysmatic Labs tweeted that this incident is very rare and has released the latest fix version v.1.3.8-hotfix-6c0942.

Some raw data shows that the total loss from the accident was closer to 15 ETH. Lost proofs due to lack of block space cost an average validator 122,950 gwei, or about $0.30 at today's prices.

Here are some key facts:

• No validators are slashed

• Has no effect on the finalization of the beacon chain

• The participation rate is still very high (84.8% at the lowest point)

• Most validators lose 2 to 3 proofs, regardless of client type

• source:

source:

https://twitter.com/prylabs/status/1386011312849833984?s=20

After this incident, Eth2 core developers Danny Ryan and Justin Drake both called on Twitter to call on stakers to pay attention to client diversity.

➤ Timing of Altair upgrades

➤ London Upgrade

source:

https://twitter.com/ralexstokes/status/1385295236885204997?s=20

➤ London Upgrade

According to Tim Beiko's notes from the unconventional core dev meeting on April 23rd, the progress of the 4 EIPs considered for inclusion in the London upgrade is as follows:

✓ EIP-2537: Regarding BLS precompilation, there are two concerns about including it in the London upgrade - the first is that migrating to a new crypto library requires more testing; the second is that it will cause some gas price changes. While these are big changes, more work is needed, which may delay the London upgrade. The question is when should it be added to mainnet if not included in the London upgrade.

✓ EIP-2677: Simple change, but not strongly supported, and ultimately decided not to make it into the London upgrade due to it increasing testing overhead.

✓ EIP-3403: Remove the gas return for opcodes SSTORE and SELFDESTRUCT except in some special cases. Because the gas return will increase the block gas consumption, and 1559 will also, the previous objection to adding it to London is due to security considerations. The main problem with 3403 is those "special cases", because adding such logic to the client side increases code complexity and is prone to bugs. On the other hand, removing gas rebates entirely would be a very big change, which is why EIP-3298 was not included. So Vitalk and Martin Holst Swende are writing a new EIP, proposing to reduce the gas return of SSTORE from 15k to 4.8k gas, cancel the gas return of SELFDESTRUCT, and reduce the maximum additional execution amount of gas return from 1/2 to 1 /5. This proposal can reduce block elasticity, suppress the emergence of things like gas tokens, and reduce the implementation complexity associated with 3403. Everyone likes the ideas, but since there isn't an actual EIP yet, the client team needs to review it next week. We'll discuss it and make a decision at our meeting next Friday.

✓ EIP-3074: The situation is similar to 2537.

The meeting had extensive discussions on how to strike a balance between keeping London content lean, making "merging" a top priority, and deploying features the community wants (such as 3074 and 2537) to the mainnet, and reached the following three points of consensus:

• Keep the London upgrade refined, and plan to deploy it in mid-July and retrograde. The content only includes 1559, 3198, 3238 and EIP about gas return.

• Simultaneously advancing the "consolidation" while working on the London upgrade, and hoping to achieve the "consolidation" as soon as possible.

• When the London upgrade is complete, start the next small functional fork—Shanghai upgrade.

The content in Shanghai should be those EIPs that were originally intended to be included in London but were too late. If the progress of Shanghai is earlier than the "merger", the Shanghai upgrade will be deployed first; if the progress of the "merger" is faster, the "merger" will be realized first and Shanghai will be delayed.

The client team stated that work on London and the "merge" is progressing in parallel, and that good progress has been made on both fronts. After the mainnet is deployed in London, they will focus on upgrading content in Shanghai.

The meeting set a timetable for the London upgrade and decided on the block height at the next meeting.

source:

source:

https://twitter.com/TimBeiko/status/1385613482402275331?s=20

➤ EIP-3074 Community Meeting

The author of EIP-3074 will host a community meeting to discuss this EIP, with the goal of educating teams that interact directly with this EIP (such as wallet and relayer teams), discussing various tradeoffs, and gathering feedback on such a proposal. feedback.

Time: 00:00, April 27, Beijing time

Conference link: https://us02web.zoom.us/j/83343120771?pwd=bW0wckdnUFdFTzE4SHZ2U0xvSXQ3dz09

Duration: 1 hour

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➤ Blockchain data indexing project The Graph launches Scalar to reduce query costs

In The Graph, a decentralized data indexing and query protocol, each query is priced individually by the indexer and paid by the consumer (usually an application developer). The Graph's hosted service queries exceeded 14 billion in February and 19 billion in March.

So after two years of research and development, The Graph Foundation announced the launch of Scalar on April 21 to solve the problem of increasing demand. Scalar is a scalable micro-transaction solution based on the expansion solution Connext Vector protocol. Through state channel aggregation and compressed transactions and then sent to the chain for finalization, it can reduce the GRT query fee of The Graph network and increase the query speed.

Source: https://thegraph.com/blog/scalar

➤ Layer2.finance v0.1 launched on mainnet

Layer2.finance v0.1 of Celer Network, a state channel expansion solution, was launched on the mainnet on April 23. Users can now use DeFi protocols Aave, Compound Finance and Curve Finance on app.l2.finance for free (within 60 days of launch) . And for the first 500 qualified users, Celer Network will also reimburse the user's handling fee from the Ethereum mainnet to layer2.finance.

Source: https://blog.celer.network/2021/04/22/the-layer2-finance-v0-1-mainnet-launches-democratize-defi-simple-and-zero-fees/

➤ Tether (USDT) launched on scaling solution Hermez

Tether (USDT) has been launched on the Hermez Network, a zk-rollup scaling solution, in the hope of relieving the pressure on Ethereum gas fees (Tether contracts have always been the most gas-consuming account in Ethereum).

cr：Coinmetrics

source:

source:

➤ Layer 2 Rollup Debate

On April 23, 2021, The Delphi Podcast host and Delphi Ventures fund manager Tom Shaughnessy invited the leaders and well-known investment analysts of the most popular Ethereum Layer 2 Rollup expansion projects (zkSync, Optimism, Arbitrum, and Starkware) to conduct Had an excellent debate.

Debate text arrangement: https://mp.weixin.qq.com/s/VLeAV39MNSW1qmtA_UKJCA

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DeFi

➤ Maker Issues First Loan Backed by Real World Assets

Previously, the MakerDAO community proposed to add some kind of ERC-20 token as collateral in the Maker lending agreement, and the ERC-20 token represented the equity in a pool of real estate assets. On April 14, the proposal passed. This represents the first step in bringing real-world assets into use in DeFi, and an important step in bringing trillions of dollars worth of physical assets into the open financial ecosystem. On April 22, the cooperation between the lending agreement Centrifuge and Maker was officially launched, and New Silver became the first pool to connect DeFi and real-world assets.

Lending protocol Centrifuge created a lending platform called Tinlake. On this platform, asset sponsors can convert real-world assets into tokens for loan financing in the blockchain world. Centrifuge's current partners include MakerDao, AAVE, etc.

cr：Centrifuge

The financial institution New Silver took the lead in creating a real estate repair and resale loan pool (fix and flip loans) on the Tinlake platform, relying on MakerDAO as a credit facility to complete the first loan financing. Currently, Silver has a credit line of $5 million in Maker, minting and lending DAI backed by Real World Assets (RWA).

Source: https://medium.com/centrifuge/defi-2-0-first-real-world-loan-is-financed-on-maker-fbe24675428f

➤ The cumulative number of Ethereum DeFi users has exceeded 2 million

According to data from Dune Analytics, the number of Ethereum DeFi users has accumulated more than 2 million (the user statistics here are the unique addresses of Ethereum). This statistics includes some mainstream DeFi projects: Uniswap, Compound, 1inch, Balancer, Kyber, SushiSwap, MakerDAO, dYdX, Aave, Curve, Yearn, etc.

ecology

ecology

On April 20th, Bitfly tweeted that they believe that it is safer to increase the gas limit from 12,500,00 to 15,000,000 in view of the improved efficiency of the Berlin upgrade. And this increase in gas limit is regarded as a major milestone for the community.

Someone asked in the comments why increasing the gas limit is beneficial to the community, Tim Beiko replied and explained:

Raising the gas limit allows more transactions to be included in a block, which can lower transaction fees or allow more people to transact at a given gas price. However, this also increases the state size of Ethereum and makes it harder for nodes to run. This is why there needs to be a balance between improving user experience and maintaining network security.

Source: https://twitter.com/etherchain_org/status/1384450774428700672?s=20

➤ Why is the gas fee so low?

Anthony Sassano listed a few reasons why gas fees have been so low recently:

• gas limit (block size) increased by 20%

• Flashbot allows MEV extractors to bypass transaction pools

• Layer 2 network (or other chains) puts transactions off-chain

• The market has been quieter lately, naturally leading to less online activity

What do you think?

➤ Hudson Jameson Announces Official Resignation

On April 21, Hudson Jameson tweeted to announce his departure from the Ethereum Foundation, ending his nearly 5 years of work at the Foundation, and it is time to start a new chapter in his life. Regarding his whereabouts, he said that he will take a two-month break first, but will not leave the Ethereum ecosystem, and will continue to work on EthCatHerder and Zcash Open Major Grants.

➤ Famous American rapper Eminem releases NFT series

Eminem released the NFT series on the NFT platform Nifty Gateway. There are limited editions, auction editions, and open editions. The open editions have ended sales.

This issue is over, see you in the next issue!

This issue is over, see you in the next issue!