Week in Ethereum News, May 14, 2022 - thanks to clr.fund for making this issue possible!
Eth News and Links
PoW switch off (the Merge)
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Ropsten testnet upgrade to PoS estimated for June 8 (Terminal Total Difficulty 43531756765713534)
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Mainnet-shadow-fork-4 merge looked perfect, Erigon had unrelated sync issues
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Mainnet-shadow-fork-5 merge on May 19, equal validator split across execution & consensus layer clients
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Staking safely post-Merge requires client diversity for both consensus & execution layers
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Geth currently over 80% at the execution layer
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Mainnet execution layer
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Latest core devs call video. Notes from Tim Beiko & Christine Kim:
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Mainnet-shadow-fork-4: empty blocks due to consensus clients asking for the candidate block too quickly
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Ropsten to be upgraded to PoS early June with permissionless beacon chain, not using Fork ID; Sepolia beacon chain to be permissioned
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Agreed on latest, finalized & safe JSON RPC block tags
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EIP discussions: EIP4938 (eth/67: removal of GetNodeData) and EIP5081 (expirable transaction)
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Nethermind v1.13.0: beta snap sync support, sync reduced from 24+ hours to 2 hours & download size cut from ~90GB to ~30GB
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Erigon v2022.05.03-alpha: more fixes to improve snapshot download speed
Proof of Stake consensus layer
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Updated consensus client diversity estimates: Prysm 48%, Lighthouse 23%, Teku 15% and Nimbus 8%
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Somer’s staker migration guides: migrate from Prysm to Nimbus
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Teku v22.5.0: epoch processing optimisations & fixes issue loading optimized BLST library on Windows
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Lodestar v0.36.0: security fix and proposer boost enabled by default
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Danksharding panel with Dankrad, Protolambda & Vitalik, moderated by Tim Beiko
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Danny Ryan: Lido over 1/3 of stakers is a centralization risk
EIPs/Standards
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Proposal for NFT sale of unused EIP numbers
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EIP5089: Principal token
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EIP5083: NFT token acceptance
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EIP5081: Expirable transaction
Layer2
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KuCoin supports USDC & USDT deposits on Optimism
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Censorship resistant bridges
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Polygon Hermez v2 deep dive
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Stuff for developers
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samczsun’s Signature Database: search function, error, event & name signatures
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Use optional access list to reduce gas costs reading multiple storage slots
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Thirdweb-deploy: deploy contracts using MetaMask or Gnosis Safe, dashboard to view deployments
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Blocknative Transaction Preview API simulate bundled transactions
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Sepolia testnet faucet
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OxPARC Ecne: verify ZK circuits
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1inch’s cumulative merkle drop tool
Security
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Chainlink minimal value circuit breaker triggered for LUNA/USD, oracle reported LUNA at $0.107, Blizz Finance (Avalanche) drained, Venus Protocol (BNB chain) $13.5 million lost from borrowing at outdated price
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Balancer DoS vulnerability disclosed, double entry-point ERC20 tokens
Ecosystem
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Decentralized Society (DeSoc): ecosystem of accounts (Souls) holding revocable soulbound (non-transferrable) tokens for social identity, with community recovery
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Wallet devs call notes: discussions on batch/bundled transactions endpoint, support multiple wallet extensions and cross-wallet testing
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Ads on crypto websites such as Etherscan & Coingecko used in token approval attack
Enterprise
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Instagram testing sharing NFTs with selected creators & collectors
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Amazon Managed Blockchain supports running Goerli testnet nodes
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KFC Malaysia sending promo codes via Etherscan’s Blockscan Chat
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EY Blockchain Analyzer Reconciler: import enterprise records, reconcile off-chain records with on-chain transactions and track wallet balances
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S&P Global gave Compound Treasury B- credit rating
Application layer
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Maker vault used to finance Australian beef shipment
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Bancor v3: single-sided staking, impermanent loss protection, dual rewards, auto-compounding rewards, and composable single-sided pool tokens
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Sushi live on Optimism
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Element Finance open sourced research [Disclosure: Evan is advisor]
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Backed (NFT-backed loans) live on Optimism
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Gnosis Safe Transaction Simulation in transaction builder
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Karma: delegate from DAO contributor reputation leaderboard; [Disclosure: Starbloom portfolio]
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Hop using Sybil hunters to find Sybil airdrop attackers
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Reminder to check ENS expiry dates
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ETHPass: token gated events with tickets in Apple Wallet/Google Pay, scanning tickets can autoclaim POAPs
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Huddle01: token gated video calls live; beta
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Headline: decentralized publishing & newsletter platform
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OpenSea updated account verification and collection badging system
Job Listings
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Status Waku is hiring: Software & DevRel Engineer (Web)
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Ethereum Foundation need a People Operations Lead
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Ethereum Foundation seek a generalist ecosystem developer
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Trail of Bits Security Apprenticeship (3 months)
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Vac @ status are looking for protocol engineers
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Status are hiring engineers who focus on incentive design
Reach developers experienced with Ethereum. $600 for four issues (~75 character limit), payable in ETH/DAI/USDC to abcoathup.eth on mainnet, Arbitrum or Optimism. Questions? abcoathup at-gmail
Regulation/business/tokens
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US Treasury Secretary current scale of stablecoin market not a threat to US financial stability
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Germany's tax guidance: sale of purchased Ether tax free after one year
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Polynya: sustainable blockchain checklist
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Azuki co-creator behind abandoned CryptoPhunks, Tendies and CryptoZunks NFT projects
General
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UST algorithmic stablecoin fell from peg, over 6 trillion Luna printed
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Coindesk names Do Kwon as co-founder of failed algorithmic stablecoin Basis Cash
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Meta scoping single wallet experience
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Discord API leaks private channel metadata: name, description, members list & activity data
Follow @WeekinEthNews to find out what the most clicked links are. Follow @evan_van_ness and @abcoathup to get most of the week’s news in real time.
Permalink for this week’s issue: https://weekinethereumnews.com/week-in-ethereum-news-may-14-2022
Dates of Note
Upcoming dates of note (new/changes in bold):
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May 17-20 – EY Global blockchain summit
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May 20 – US Fed CBDC discussion paper feedback deadline
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May 24 – ETH Staking QF Round ends
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Jun 8 – Ropsten testnet upgrades to PoS
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Jun 10 – Austin DeFi summit
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Jun 10-12 – ETHPrague
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Jun 20-23 – NFT.NYC
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Jun 24-26 – ETH NYC
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Jul 6-8 – ETHBarcelona
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Jul 8 – ETH Seattle summit
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Jul 19-21 – EthCC 5 (Paris)
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Aug 5-7 – ETH Seoul
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Aug 8-10 – ETHToronto
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Aug 11-14 – ETH LATAM (Buenos Aires)
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Aug 18-19 – Ethereum SP (São Paulo)
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Aug 19-21 – ETHMexicoCity
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Aug 27-28 – DeFi Security Summit (Stanford)
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Aug 28 – DeFi San Francisco summit
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Aug 29-31 – Science of Blockchain Conference (Stanford)
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Sep 1-4 – ETHWarsaw (hackathon & conference)
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Sep 6-9 – MCON 2 (Denver)
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Sep 12-14 – DappCon (Berlin)
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Oct 11-14 – Devcon 6 (Bogotá)
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Nov 4-6 – ETHSanFrancisco
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Dec 1-4 – ETHDownUnder (Sydney)
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Dec 2-4 – ETHTaipei
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OhNoEthereum via https://www.ohnocrypto.com/ @Andrew B Coathup, @Khareem Sudlow