ETH Weekly | Ethereum Ropsten test network merger TTD has been set; V God opposes the ban on PoW and proposes to implement carbon pricing (5.30-6.5)

Author | Qin Xiaofeng

Editor | Hao Fangzhou

Produced | Odaily

1. Overall overview

Author | Qin Xiaofeng

Editor | Hao Fangzhou

According to the official blog of the Ethereum Foundation, the combined terminal total difficulty (TTD) of the Ethereum Ropsten testnet has been set at 50000000000000000. This means that the Ethereum Ropsten testnet is expected to undergo a transition to the PoS consensus around June 8-9.

Second, the secondary market

1. Spot market

Second, the secondary market

(ETH daily chart, picture from OKX)

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2. Large transaction

OKlink data2. Large transaction

3. Rich list address

OKlink data3. Rich list address

3. Ecology and technology

1. Technological progress

OKlink data

It shows that from the perspective of the distribution of holding addresses, exchanges accounted for 9.53%, a month-on-month decrease of 0.04%; DeFi projects accounted for 18.45%, which was basically the same. 39.52%, down 0.03% month-on-month; other addresses accounted for 32.51%, up 0.06% month-on-month.

3. Ecology and technology

1. Technological progress

(1) Ethereum 2.0 client Lighthouse releases version V2.3.0 to fix the block reorganization problem
(2) The integration of TTD on the Ethereum Ropsten test network has been completed

2. Voice of the Community

According to the official blog of the Ethereum Foundation, the combined terminal total difficulty (TTD) of the Ethereum Ropsten testnet has been set at 50000000000000000. This means that the Ethereum Ropsten testnet is expected to undergo the transition of The Merge around June 8-9.

The upgrade is activated in two phases: the first phase is that the Ropsten beacon chain is expected to be upgraded to merge compatible protocol rules (Bellatrix) on June 2, 2022 at slot 24,000; the second phase is the total difficulty of the terminal Reaching a value on the (TTD) execution layer, the Terminal Total Difficulty (TTD) will select one to activate the merge on the proof-of-work chain, node operators will need to manually set this value on their clients, exact announcement on TTD It will be announced on June 3. Note that node operators need to update their consensus and execution layer clients at the same time.

Following the Ropsten transition, two other testnets (Goerli and Sepolia) will transition to proof-of-stake before the focus shifts to the mainnet. Other testnets, such as Rinkeby and Kovan, may be maintained and upgraded independently by the community, but are no longer monitored by client developers.

(1) Vitalik: Use at least one non-MetaMask wallet to test the Dapp to ensure compliance with Ethereum standards

3. Project trends

V God tweeted that developers should at least use a non-MetaMask wallet (such as Brave, Status browser) to test Dapp. Make sure the Dapp conforms to Ethereum standards, not just the unique properties of a particular wallet.

(2) Vitalik: Oppose the ban on PoW and suggest the implementation of carbon pricing

Ethereum co-founder Vitalik Buterin (V God) expressed his opposition to the ban on PoW on Twitter, and pointed out that it is a bad idea for officials to choose which specific applications can use electricity. A better approach would be to directly implement carbon pricing and use some of the revenue to compensate low-income users.

3. Project trends

According to official news, StarkGate Alpha V1.5.0, the new version of StarkNet cross-chain bridge, the Ethereum expansion solution, has been launched on the main network. StarkGate currently supports DAI.

South Korean game giant WeMade has made a strategic investment in Froyo Games, a multi-chain GameFi infrastructure, to accelerate the expansion of the Wemix ecosystem. Wemade said the investment amount was huge, but did not disclose details.
(2) MakerDAO announced that it has been deployed to StarkNet, allowing users to use cross-chain bridges for Dai transfers
MakerDAO announced that the protocol has been deployed to Ethereum's layer 2 scaling solution StarkNet, allowing users to use cross-chain bridges to transfer Dai between Ethereum's layer 1 and layer 2. This is the first time that the protocol has integrated a network other than the Ethereum mainnet .

(3) Multi-chain GameFi infrastructure Froyo Games received strategic investment from South Korean game giant Wemade

South Korean game giant WeMade has made a strategic investment in Froyo Games, a multi-chain GameFi infrastructure, to accelerate the expansion of the Wemix ecosystem. Wemade said the investment amount was huge, but did not disclose details.

Through this strategic investment, WeMade plans to sign a partnership with Froyo Games to expand token economics on the basis of Wemix and expand market share.

It is reported that Froyo Games is a multi-chain GameFi infrastructure that enables the existing gaming and e-sports ecosystem to transition to Ethereum and Binance Chain. In December last year, Froyo Games completed a $1.6 million strategic round of financing led by Animoca Brands. (TheGuru)

(4) Polygon steps up KYC vetting for potential investments and grants in India

Polygon is now requiring extensive KYC details from potential partners in India as regulatory scrutiny intensifies in India, the sources said. Polygon, whose system runs alongside the ethereum blockchain, is seeking to operate compliantly amid heightened scrutiny from regulators and will not grant funding to those unwilling to share full KYC details, according to the person.

Another industry source said that developers in India have recently mentioned difficulties in obtaining funds or investment from Polygon, and even said that Polygon has completely stopped funding projects in the country. However, sources familiar with Polygon's decision clarified that the move was not a complete suspension of funding for projects in India, but was related to heightened government scrutiny. (CoinDesk)

(5) Part of the Immutable X agreement fee is used to purchase carbon credits
Immutable X, the Ethereum NFT layer-2 expansion plan, said that Illuvium and Immutable X are committed to providing carbon-neutral blockchain games. Immutable X says its rollup technology generates 99.999% less energy and carbon than the ethereum mainnet by reducing the network footprint per transaction. For the carbon emissions generated by creating or trading NFT, Immutable offsets by purchasing carbon credits (one of the expenses covered by the agreement fee), achieving 100% carbon neutrality. Immutable promises to continue to pay the ongoing cost of carbon credits, at least until 2025.

(6) ConsenSys Mesh chooses Codefi Staking to operate its validator on Ethereum

According to official news, ConsenSys Mesh has selected ConsenSys’ institutional-grade staking service, Codefi Staking, to operate its validators on Ethereum.

ConsenSys launched Codefi Staking in December 2020 as an Ethereum staking-as-a-service platform for exchanges, custodians, funds, wallets, and other institutions. Codefi Staking helps eliminate the technical and operational risks of staking ETH and helps institutions maximize returns. Today, Codefi Staking runs over 8,000 Ethereum validator nodes with a 99.95% uptime record.

Codefi Staking will distribute validators for MESH across its multi-region, multi-cloud, and multi-client platform. When partnering with Codefi Staking, MESH will retain custody and control of its ETH.

Boba Network, the second-layer expansion solution of Ethereum, will realize a multi-chain strategy by integrating Fantom and Moonbeam, the compatible chains of Ethereum.

4. Borrowing

DefipulseBoba's second-tier product is designed to help expand existing applications on Fantom and Moonbeam. Additionally, the Boba Network team plans to make its product Hybrid Compute available to developers on these networks. Hybrid Compute is a tool that enables blockchain applications to interact with cloud environments for off-chain data, such as data generated by social media platforms. (The Block)

The data shows that the value of locked-up collateral on the chain dropped from US$54.374 billion to US$54.36 billion last week, a decrease of 0.1% a week; a net decrease of US$1.89 billion in the previous week and a net decrease of US$10 million last week, a month-on-month increase of 99%. Specifically, the number of ETH mortgages dropped from 6.33 million to 6.266 million last week, a drop of 1%; the number of BTC mortgages dropped from 151,997 to 153,951, an increase of 1.2%.

5. Mining

(data from etherchain.org)

etherchain.org5. Mining

4. News

image description

(data from etherchain.org)

The data shows that last week, the average computing power rose by 0.8% month-on-month, temporarily reporting 1085TH/s; the average mining difficulty increased by 2.2% month-on-month, temporarily reporting 14809T; the activity on the chain decreased by 5% month-on-month, and the total mining revenue decreased by 0.2% month-on-month.

4. News

(1) Transfer 32,000 ETH to FTX from the Three Arrows Capital address

According to the monitoring of SkyEye on the OKLink chain, on May 30, the address marked as Genesis Trading by the OKLink ETH browser transferred 32,000 ETH to the address of Sanjian Capital through the address beginning with "0x0D71", and was then transferred out to FTX. Up to now, the Three Arrows Capital address has transferred more than 42,700 Ethereum to FTX in May.

(2) Data: 9.1 million NFT assets were added to the Ethereum network in the last 30 days

According to NFTScan browser data, 9,104,635 NFT assets have been added to the Ethereum network in the last 30 days, with an average of 303,500 NFT assets minted every day, an increase of 50% compared to the NFT craze.