Potpourri News’ Post

EIPs vs ERCs: Understanding Ethereum's Development Process and Their Key Differences 🚀 What Are EIPs? EIPs (Ethereum Improvement Proposals) are formal documents used to propose changes, improvements, or new features to the Ethereum network. They play a crucial role in shaping the future of Ethereum, outlining everything from protocol-level upgrades to changes in the Ethereum Virtual Machine (EVM), networking, and APIs. Anyone can propose an EIP, making it a decentralized and collaborative process that ensures transparency across the Ethereum development community. What Are ERCs? While EIPs cover a broad range of topics, ERCs (Ethereum Request for Comments) are a specific subset of EIPs. ERCs focus on application-level standards, particularly on defining how smart contracts and decentralized applications (dApps) should behave within the Ethereum ecosystem. ERCs are critical for ensuring interoperability and standardization, which allows different dApps, wallets, and tokens to work seamlessly together. One of the most famous ERCs is ERC-20, which sets the standard for fungible tokens. Most Ethereum-based tokens follow this standard, allowing them to be traded on decentralized exchanges and supported by various wallets. Similarly, ERC-721 sets the standard for non-fungible tokens (NFTs), enabling the creation of unique digital assets like artwork or collectibles. The Broader Subsets of EIPs Beyond ERCs, Ethereum has other important subsets of EIPs that contribute to the development of the platform in various ways: 1. Core EIPs: These proposals are aimed at changes to the Ethereum protocol itself. Core EIPs deal with upgrades that impact the blockchain at a fundamental level, such as changes to consensus mechanisms or upgrades that lead to hard forks. Example: EIP-1559, which introduced a new fee structure and ETH burning mechanism, changing the economics of the network. 2. Networking EIPs: Focus on the communication layer of Ethereum. These proposals ensure the efficient transmission of data between nodes and help maintain the security and stability of the Ethereum network. Example: EIP-8, which defines improvements in how Ethereum nodes connect and exchange messages. 3. Interface EIPs: Focus on developer-facing standards, particularly on how external interfaces like APIs are structured. They ensure consistency and ease of interaction between Ethereum nodes and external applications. Example: EIP-1474, which improved the JSON-RPC API for better integration with dApps. 4. Meta EIPs: These proposals focus on process and governance within Ethereum. They outline how the Ethereum community should manage decision-making and processes, but they don’t directly change the protocol itself. Example: EIP-1, which describes how the EIP process works, including how proposals are submitted and reviewed.

Stride, Quicksilver, and pSTAKE are prominent liquid staking platforms within the Cosmos ecosystem and the broader blockchain space. They provide solutions that allow users to stake their tokens to earn rewards while retaining liquidity through staking derivatives. 1. Stride Overview: Stride is a blockchain zone built using the Cosmos SDK, dedicated exclusively to liquid staking. It enables users to stake native tokens from various Cosmos chains and receive liquid staking tokens in return. Key Features: Interchain Staking: Supports staking for multiple Cosmos-based blockchains via Inter-Blockchain Communication (IBC). stTokens: When users stake tokens like ATOM through Stride, they receive stTokens (e.g., stATOM), representing their staked assets. Decentralization: Distributes staked assets across a set of validators to enhance network security and decentralization. Benefits: Liquidity: Users can use stTokens in DeFi applications, providing liquidity while still earning staking rewards. Flexibility: Allows seamless movement of assets across different chains within the Cosmos ecosystem. 2. Quicksilver Overview: Quicksilver is a liquid staking protocol designed for the Cosmos ecosystem, focusing on user sovereignty and governance participation. Key Features: Delegator Choice: Users retain the ability to select validators, preserving their influence over network security. qAssets: Staking through Quicksilver provides users with qAssets (e.g., qATOM) that can be utilized in DeFi platforms. Governance Integration: Ensures that stakers can participate in on-chain governance processes of the native networks. Benefits: User Control: Empowers users to make decisions about validator selection and governance participation. Enhanced Utility: qAssets can be leveraged in various DeFi applications, increasing the utility of staked tokens. 3. pSTAKE Overview: pSTAKE is a liquid staking protocol that bridges assets from multiple blockchains, including Cosmos and Ethereum, enabling users to unlock liquidity of staked assets. Key Features: Multi-Chain Support: Allows staking of assets like ATOM and ETH, broadening the scope beyond a single ecosystem. stkTokens: Issues stkTokens (e.g., stkATOM) to users, which are representative of their staked assets. DeFi Compatibility: stkTokens can be used in DeFi ecosystems to generate additional yield on top of staking rewards. Benefits: Additional Yield Opportunities: Users can compound earnings by participating in DeFi while earning staking rewards. Accessibility: Simplifies the staking process across different networks, making it accessible to a wider audience.

Do you think the move from Proof Of Work to Proof Of Stake in itself is proof Ethereum is Not Decentralized? What if I wanted to keep my Ethereum as proof of work in my wallet? We didn’t get a choice on whether our own Ethereum could stay as proof of work but we can still call it decentralized? It seems like the majority holders of Ethereum make the proposals and direct everyone with lesser holdings. Example: I think you could come up with some new ideas for Ethereum too. But can you make a proposal to change the way everyone else’s Ethereum functions even if they like the way it’s working already? I wish you could but it seems only Vitalik and Joseph Lubin can. I think your ideas are no less valuable than theirs. But they have Centralized authority to change the fundamentals of all of Ethereum and we can’t even change the fundamentals of the Ethereum we own in our wallets. For this reason and others I believe Ethereum is Centralized and is marketed as something that it is not. If you want to prove this wrong please change some of the ETH in your wallet back to Proof Of Work. I don’t think we can because even though it’s “Our ETH” they control how it functions. You gotta admit that a lot of power… Respectfully

📣 It's a pivotal moment in Astar Network history, as today we're thrilled to announce the official launch of Astar zkEVM! Astar zkEVM is an Ethereum Layer 2 scaling solution leveraging Polygon Labs zero-knowledge technology and is also the FIRST chain to integrate the revolutionary Aggregation Layer. 🔥 https://lnkd.in/eMFhjEKX After becoming one of the biggest parachains in the Polkadot ecosystem, Astar Network is now expanding to the Ethereum ecosystem. Astar zkEVM achieves a high level of EVM equivalence while remaining seamlessly compatible with existing smart contract development tools. In addition to the newly added zkEVM, the overall makeup of our ecosystem is expanding and becoming more well-defined - now with foundational support from top-tier infrastructure providers in addition to our unshakeable community, and a growing suite of corporate powerhouses, known for their products and services worldwide. The Astar zkEVM will onboard web2 companies from Japan, Korea, and beyond to web3. Serving as a bridge between traditional enterprises and the web3 ecosystem. Leading companies across the globe, in addition to blue-chip dApps and protocols, are already deployed or developing use cases on Astar zkEVM, and momentum is growing at tremendous speed! During the testnet phase, we achieved great traction and feedback from the community, allowing us to make all the necessary provisions for the launch of the zkEVM mainnet. Moving forward, the testnet will remain operational as robust and reliable testing grounds for decentralized applications on Astar zkEVM. Now that Astar zkEVM is live, we are eager to start redefining the overall web3 experience. Find a growing list of all the service providers and tools integrated with Astar zkEVM on our official documentation portal. https://lnkd.in/ejJxeu4W Learn more about Astar zkEVM  https://lnkd.in/ejc5fDgf Jump right in and use the bridge https://lnkd.in/etcJiUeA Additionally... Something BIG is coming soon! You don’t want to miss out on this one! 👀

We are pleased to announce that Hashed co-led the $15 million Series A funding round of Taiko Labs, a pioneering Ethereum-equivalent L2 led by the stellar founders Daniel Wang, Terence Lam. and Brecht Davos. Our investment underscores our unwavering confidence in Taiko Labs's vision to revolutionize Ethereum scaling while remaining true to its core principles. Taiko’s Ethereum-equivalent ZK rollup, a decentralized L2 architecture, caught our attention for its commitment to security and permissionless operations. With a burgeoning community of over 850,000 active members on Discord, Taiko has created a dynamic ecosystem that resonates with the ethos of decentralization. What sets Taiko apart is not just its financial milestones, but its hands-on approach to testing and development. Through 6 carefully executed testnets, Taiko has proven its mettle. The recent Katla testnet(https://lnkd.in/giF5FQ6r), which introduced the Based Contestable Rollup (BCR) design, marks a paradigm shift. This innovative architecture, featuring a contestable mechanism and based sequencing, lays the groundwork for Taiko's upcoming mainnet launch. Looking ahead, Taiko envisions the Based Booster Rollup (BBR), a game changer that addresses liquidity fragmentation. This design allows developers to deploy on Ethereum and seamlessly scale across all L2 solutions. Our investment is more than financial; it's a testament to our belief in Taiko's ability to redefine Ethereum scaling and elevate the entire blockchain ecosystem. We look forward to seeing Taiko's continued success, and are excited to contribute to the unfolding story of innovation.

Base: Coinbase's Layer 2 Solution for Ethereum Ethereum is the most popular platform for decentralized applications (dapps), but it also faces challenges such as high transaction fees, low throughput, and network congestion. To overcome these issues, many developers and users are looking for layer 2 solutions that can scale Ethereum without compromising its security and decentralization. One of the most promising layer 2 solutions is Base, a secure, low-cost, and developer-friendly network that is incubated by Coinbase and built on the open-source OP Stack. Base leverages the underlying security of Ethereum and the scalability of Optimism, a rollup-based protocol that enables fast and cheap transactions on a separate chain that periodically settles on Ethereum. Base aims to make "onchain the next online" and onboard 1 billion+ users into the cryptoeconomy. By building on Base, developers can access Coinbase's products, users, and tools, as well as the wider crypto ecosystem. Base also offers full EVM equivalence, meaning that any smart contract or dapp that runs on Ethereum can also run on Base with minimal changes. Base has recently launched its mainnet with over $160 million in total value locked (TVL) and a growing number of protocols and projects building on it, such as Aave, Compound, Sushiswap, Uniswap, and more. Base also hosts "Onchain Summer", a month-long onchain festival featuring the best builders and attracting prominent names such as Coca Cola, Atari, and many more.

Vitalik Buterin's Innovative Proposal 🤔 Ethereum, the cornerstone of decentralized finance and smart contracts, is poised for another groundbreaking shift in its staking mechanism. Recently, Ethereum co-founder Vitalik Buterin unveiled a visionary proposal aimed at fostering greater decentralization within the Ethereum ecosystem. But what does this mean, and why is it crucial? Let's delve into the intricacies of Buterin's proposal and its potential implications. In his proposal, Buterin highlights the pressing need to fortify Ethereum's decentralization by implementing robust anti-correlation incentives among validators. This strategy aims to mitigate the risk of correlated failures, wherein multiple validators under the control of the same entity succumb to errors simultaneously. By penalizing such correlated failures more severely, Buterin aims to incentivize stakeholders to adopt diverse and independent infrastructure setups. The core of Buterin's proposal lies in penalizing validators in proportion to the deviation from the average failure rate. In simpler terms, if a cluster of validators experiences a high failure rate, each failure within that cluster would incur a more substantial penalty. Through meticulous simulations, Buterin's approach demonstrates promising potential in leveling the playing field between large and small stakers, thereby promoting a more equitable distribution of influence within the Ethereum network. One of the key advantages of Buterin's proposal is its ability to incentivize decentralization at both the infrastructural and economic levels. By encouraging validators to operate independently rather than pooling their resources, the proposal fosters a more resilient and diverse ecosystem. Moreover, it introduces a competitive edge to solo staking, making it a more financially viable option relative to staking pools. However, it's essential to acknowledge the existing landscape of Ethereum staking, particularly the prevalence of staking pools and liquid staking services like Lido. While these platforms have democratized staking by allowing participation with smaller ETH amounts, concerns have emerged regarding their dominance and potential cartelization. As Lido commands a significant portion of staked ETH, there are apprehensions about disproportionate profits and its impact on the broader Ethereum community. Moving forward, Buterin's proposal opens the door to a broader conversation about the future of Ethereum staking. It prompts stakeholders to reevaluate existing practices and explore innovative solutions to enhance decentralization while preserving inclusivity and fairness. As Ethereum continues to evolve, initiatives like Buterin's underscore the community's unwavering commitment to realizing the platform's full potential as a decentralized powerhouse of the future. #Ethereum #Decentralization #StakingRevolution

While we started off building in the Ethereum ecosystem, we've also had deep conviction in both IBC (https://lnkd.in/eFJfh5MD) and Cosmos (https://cosmos.network/) technology since the very beginning. We're deeply passionate about merging both Ethereum and Cosmos tech together to form the Cosmothereum ecosystem. Ethereum and Cosmos teams have spent the past few years solving a different but complementary set of problems. Ethereum L2 teams have been solving the settlement problem while the Cosmos core teams have been solving the interoperability and app chain developer UX problem. Now, both Ecosystems share a similar vision for the future. Interoperable networks of app rollups on Ethereum and an interoperable network of app chains/rollups in the Cosmos. Our mission at Polymer Labs is to ensure that these two ecosystems that share the same vision for the future do not walk along diverging technical paths. By building Polymer as an L2 on Ethereum, we aim to unify both ecosystems using a common language in IBC. Our novel approach allows Ethereum to directly communicate with the Cosmos without a middle man or chain. While Polymer is the first Cosmothereum L2, we also aim to build a network of Cosmothereum L2s allowing Cosmos SDK builders to deploy directly onto Ethereum. We're excited and humbled to bring on board an incredible roster of investors who share our vision of the future - Blockchain Capital, Maven 11, Placeholder, North Island Ventures, Digital Currency Group, Figment, Informal Systems and many more! Personal thanks to these amazing investors and partners who have supported us and given us the freedom to build conviction in our unique path forward - Travis Scher, Yuan Han Li, Ryan Sproule, Christopher Burniske, Mads Mathiesen, Mathijs van Esch, James Parillo, Dougie DeLuca, Sreeram Kannan, Jim Chang, Mustafa Al-Bassam and many more! Also, we're building on the shoulders of giants and the many teams who have been contributing to the Interchain stack as well as the OP stack! https://lnkd.in/e9NdvdUB

How does Coinbase's exclusive operation of Base's sequencer, despite their inability to modify or reverse transactions, impact perceptions of centralization within the Base L2 network? Read on. TL;DR - Base merges Coinbase's assets into the decentralized economy, leveraging Ethereum and Optimism's OP Stack. - It offers secure, low-cost dApp development with easy integration into Coinbase’s ecosystem. - EVM compatibility, gasless transactions, and multichain support, all open-source. Layer 2 blockchain explained They are off-chain solutions enhancing Ethereum Foundation's scalability and efficiency. They operate atop the main blockchain, maintaining robust security and decentralization while offering lower fees and higher transaction speeds. Base's Layer 2 bridges facilitate seamless ETH token transfers between layers, streamlining operations for developers and traders alike. Introducing Base Base is an Ethereum Layer 2 solution designed to offer a secure, cost-effective platform for developers. Developed on the OP Stack in collaboration with Optimism Foundation, Base is a product of Coinbase's extensive experience in the crypto space, aimed at progressive decentralization without launching a new token. It promises significant scalability and security by leveraging Ethereum's robust framework, combined with Coinbase's best practices. Base facilitates seamless integration with Coinbase, providing developers access to a broad user base and tools to build decentralized applications (dApps) efficiently. Offering full Ethereum Virtual Machine (EVM) compatibility, Base allows for gasless transactions and the development of multichain applications through easy-to-use APIs and bridges. Brian Armstrong, Coinbase's founder, emphasized Base's role in reducing transaction fees and increasing speed, likening its impact to the internet's evolution from dial-up to broadband. He highlighted Coinbase's goal to shift the majority of transactions to L2 to enhance performance, underscoring Base's. Understanding OP Stack The OP Stack, central to Base's architecture, is a collaborative innovation by OP Labs and The Optimism Collective. It's a modular and customizable framework that underpins the creation of adaptable layer-2 blockchains, including Base. This commitment by Coinbase to the OP Stack underlines a broader vision of a unified network of Ethereum L2 chains, promoting interoperability and decentralized governance. The future of Base Concerns about Base's centralization stem from Coinbase's control over its sequencer and permissioned layers, a common trait in Layer 2 chains. Base plans to decentralize further, aiming to become Ethereum's Superchain and bring a billion users into the crypto economy by improving scalability through Optimistic rollup technology, reducing costs, and speeding up transactions while maintaining Ethereum Network's security and transparency. #base #ETH #Layer2 #OPStack #dApps #EVM #decentralized #multichain #coinbase

Uniswap Labs - Unichain Whitepaper Source: https://lnkd.in/gmBEHKHw #unichain #l2 #interesting #development Credits: Hayden Adams Mark Toda Alexander Karys Xin Wan Daniel Gretzke Eric Zhong Zach Wong Daniel Marzec Robert Miller Karl Floersch Daniel Robinson Highlights: Unichain is built to be: 1. Low cost, while furthering decentralization Unichain is designed to leverage and accelerate Ethereum’s scaling roadmap, moving execution to an L2. In practice, this means Unichain will lower transaction costs by ~95% compared to Ethereum L1 in the short term, and even more over time. 2. Fast, with near-instant transactions To bring the next generation of markets onchain, DeFi needs to be faster. Unichain will launch with one-second block times, and will soon introduce 250ms “sub-blocks” that will make user experiences feel instant. Faster blocks also boost market efficiency and lower value lost to MEV. This improvement is made possible through a block builder developed in collaboration with Flashbots, that uses a trusted execution environment (TEE). In addition to improving speed, the TEE is designed to improve the transparency of transaction ordering and prevent failed transactions. 3. Seamless multi-chain swapping As Ethereum’s scaling roadmap comes to fruition, there will be many L2s. This is already underway, and while new L2s have helped lower costs, they have fragmented liquidity and created poor user experiences. Unichain is built to enable seamless access to swapping, no matter which chain users are on. As part of the Optimism Superchain, we’re partnering with OP Labs to implement native interoperability, which will enable single-block, cross-chain message passing among Superchain L2s. For chains outside the Superchain, we’re working to make interoperability between all chains better through initiatives like ERC-7683, so users won’t have to worry about which chains they’re using – it will just work. 4. Scaling Ethereum together This is just the start. Unichain is built to be modular – which means features like the TEE-based builder and validation network can be extended to incorporate powerful new functionality aimed at further decentralization, improving user experience, and more. 5. Build on Unichain We’re excited to invite the broader community into the fold. The Unichain testnet goes live today, with mainnet coming later this year. Developers now have access to a full suite of resources in the Unichain Builder Toolkit. The Uniswap Foundation is leading developer engagement, providing grants and programming to support developers building on Unichain.