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3️⃣ 0️⃣ Days of #BlockchainSeries Day 6️⃣ #Ethereum and #ZKRollups: A Match Made for Scalability in 2024 🚀 Ethereum's scalability issues are holding back its full potential. Enter #ZKRollups, the game-changing Layer-2 solution ready to unlock unmatched efficiency and security in 2024! 🌐 Let's dive into ZK rollups and their transformative impact on the blockchain ecosystem. 👇 1️⃣ / Why #Ethereum Needs ZK Rollups? ▶ High gas fees during peak times ▶ Slow transaction speeds ▶ Scalability bottlenecks limiting mass adoption ZK rollups offer a path to scalable, efficient, and secure transactions on Ethereum. ⚡ 2️⃣ / What Are ZK Rollups? ZK rollups bundle multiple transactions into one, reducing the load on Ethereum’s main network. They use zero-knowledge proofs to validate transactions off-chain before confirming them on-chain. 🔍🔗 #CryptoTech 3️⃣ / Types of ZK Rollups zk-SNARKs: Succinct, non-interactive proofs (e.g., zkSync Era, Manta Network) zk-STARKs: Scalable, transparent proofs without a trusted setup (e.g., StarkNet) Each type has unique advantages for different use cases. 🛠️ #Cryptography 4️⃣ / Top ZK Rollup Projects to Watch in #2024 Manta Network (MANTA): Privacy-focused DeFi Línea ABC : High throughput and low costs Polygon Labs zkEVM: EVM compatibility Starknet Foundation: Scalability with zk-STARKs ZKsync Era: Efficient transaction processing Scroll: High throughput and low latency Which one are you most excited about? 🤔 #L2Scaling 5️⃣ / Challenges Ahead❗ ▶ Complexity in implementation ▶ Ensuring data availability ▶ Efficient proof generation ▶ User adoption and integration Despite these challenges, ZK rollups are poised to unlock Ethereum’s true potential. 💡 #FutureOfCrypto Imagine a world where Ethereum transactions are fast, cheap, and secure. ZK rollups are not just a solution; they are the key to Ethereum's scalability and mass adoption. The future is bright! 🌟 ZK rollups are set to transform how we interact with Ethereum, making it ready for the next wave of innovation and adoption. Read more details about Zk Rool ups and its top projects in 2024: https://shorturl.at/Cv3Qt #Ethereum #ZKRollups #Layer2 #Crypto #Blockchain #Technology #Innovation

Scroll: how to become eligible for the layer 2 airdrop? - https://lnkd.in/det27iB6 ---- How does Scroll work?How to be eligible for the Scroll airdrop?1. Bridger from Ether (ETH) to Scroll2. Create multiple contracts and build volume on Scroll3. Use DEXs and DApps4. Track your activity on ScrollConclusion on the Scroll airdrop How does Scroll work? Scroll ZKP is an open source ZK rollup project compatible with the Ethereum Virtual Machine (EVM). This layer 2 aims to improve the scalability and security of the blockchain while reducing transaction fees . Here is a non-exhaustive list of Scroll's key features: EVM Compatibility : Scroll is designed to be compatible at the bytecode level with Ethereum. This means that existing Ethereum applications can migrate to Scroll without major changes and at a lower cost. Developers can therefore deploy smart contracts on Scroll; Scalability : Scroll is a fast, reliable and scalable layer 2. Scroll can process thousands of transactions per second, which is far more than Ethereum's current capacity; Security : Scroll uses advanced zero knowledge proofs, proven EVM models and rigorous audits to ensure the security and reliability of its database. Code security is a top priority at Scroll; Interoperability : Scroll can interact with other blockchains and protocols, making it a very versatile solution. Low Transaction Fees : Transaction fees on Scroll are considerably lower than those on Ethereum. Scroll consists of 2 main elements: Scroll L1 : Scroll's main blockchain, compatible with EVM; Scroll L2 : a secondary layer using ZK-Rollup technology to batch transactions and compress them, thereby reducing transaction fees and increasing processing speed . To function, transactions are grouped into blocks by “Rollers”. Validators use ZKPs to verify blocks and the results are then published on the Ethereum blockchain. The company raised $50 million in March 2023, bringing its valuation to $1.8 billion . 💡 The airdrop season has been in full swing for several months now. To make sure you don't miss any of the hottest projects and maximize your chances of eligibility for aidrops,  join Cryptoast Research  and surround yourself with enthusiasts and specialized analysts. Cryptoast Research: Don't waste this bull run, surround yourself with experts How to be eligible for the Scroll airdrop? Scroll has already announced a potential airdrop to reward its early users. Full details of the airdrop have not yet been released, but here are some things to know: Eligibility : Users who have used the Scroll platform and interacted with dApps on Scroll L2 will potentially be eligible for the airdrop; Airdrop amount : The airdrop amount will depend on the user's activity level on the Scroll platform. Here are som

⚖️ How Starknet Scales Ethereum ⚖️ Starknet is a zero-knowledge (zk-rollup) layer-2 scaling solution that moves computation and state into off-chain networks while storing transaction data on the Ethereum layer-1 network. — Instead of posting all transaction data on-chain, Starknet only needs to periodically provide valid bundled-up transaction batches that are executed using off-chain computation. — These bundles are then "rolled up" into one summary of the state changes, which are verified by using a validity proof that proves the correctness of the changes using a zero-knowledge proof. — This proof demonstrates with mathematical certainty that the state changes proposed by Starknet are correct and so is the result of the execution of the given batch of transactions. — Starknet relies on Ethereum for data availability, settlement, and censorship resistance, and its state is maintained by a smart contract deployed on the Ethereum network. ⚖️ Scalability issues with Ethereum ⚖️ 1. Block Gas Limit: Ethereum's block gas limit restricts the number of transactions that can be processed in each block, leading to congestion and delays. 2. Block Time: Ethereum's block time of around 15 seconds slows down transaction processing and confirmation. 3. Transaction Capacity: Ethereum's current transaction capacity is limited to around 10-15 transactions per second, far below the requirements of widespread adoption. 4. Smart Contract Complexity: Complex smart contracts can consume excessive gas, slowing down the network and increasing costs. 5. Network Congestion: As the number of users and transactions grows, Ethereum's network becomes congested, leading to increased gas fees and slower processing times. 6. Data Storage: Ethereum's blockchain stores all data on-chain, leading to increased storage requirements and slower data retrieval. 7. Scalability Trilemma: Ethereum faces the scalability trilemma, where improvements in decentralization, security, and scalability are difficult to achieve simultaneously. These scalability issues result in: — High gas fees — Slow transaction processing — Limited adoption — Increased centralization ⚖️ Starknet 's solution to Ethereum's scalability issues ⚖️ 1. Validity-Rollups (ZK-Rollups): Starknet utilizes Validity-Rollups, a type of zero-knowledge rollup, to batch multiple transactions into a single proof, reducing the load on the Ethereum blockchain. 2. Off-chain computation: Starknet performs computation off-chain, reducing the computational burden on the Ethereum network, and only posts transaction data on-chain, minimizing gas costs. 3. Zero-Knowledge Proofs (ZKPs): Starknet employs ZKPs to prove the validity of transactions, ensuring trustlessness and security without revealing sensitive... 😁 Exceeded character limit — Read the full post here 👇 https://lnkd.in/d9GyV6-R

Last couple weeks have been a pretty good stress test for Ethereum Layer 2 scaling solutions. In particular zkSync with the new prover, Boojum, now on mainnet. As we continue to improve ZK tech we will be able to compress more and more transactions into a single batch and start to achieve unit economics that will get transactions costs trending towards $<0.01 in the the next few months. Ethereum is about to go mainstream. Two pretty good articles that sum it up by Macauley Peterson at Blockworks and Seth Bloomberg at Messari From the Messari article (https://lnkd.in/ef_hktkk): "- The underlying cryptographic primitives of zero-knowledge (ZK) technology give rollups the ability to execute transactions at lower unit costs relative to other rollup solutions. - As ZK rollups achieve scale, unit costs will continue trending downward as they are amortized across a wider range of transactions. - Data publishing (or data availability) generally remains the highest onchain cost for rollups. While Ethereum rolls out EIP-4844, its first phase of increasing data availability for rollups, new solutions such as Celestia and Eigenlayer DA are entering the market as optimized data availability layers."

Next Ethereum's Upgrade: Proto-Danksharding (EIP-4844) is coming sooner than you might think! 💎 The Dencun, also known as Cancun-Deneb, introduces blob-carrying transactions through the EIP-4844. This upgrade is set to significantly lower L2 costs, establish a foundation for expansive rollup scaling, and have a profound impact on the Ethereum ecosystem. ⚡️ Now, if you're wondering what a blob transaction is, it's actually quite simple. It refers to a transaction that exclusively contains L2 data. This data is directly offloaded to the consensus layer, which has the potential to reduce Layer 2 costs by over 10 times, which will drastically increment L2 operations. Oh yeah, definitely a game-changer! More about blob transactions here: https://lnkd.in/ddxmf9PC 🌊 The Dencun upgrade will also make the official start of Ethereum's second phase, known as the Surge, which is centered around scaling, attention can now be shifted towards its subsequent phase, the Scourge. You don't know what I am talking about? Read this X post a shared a few months ago: https://lnkd.in/ddMEBb2b 🦾 Dencun's standout feature is EIP-4844, but it includes nine other EIPs for various enhancements, here a few of them: • EIPs 4788 & 6780: Increased security with a native oracle integration and safer code removal in smart contracts. • EIPs 7044 & 7045: Better staking experience by improving reliability and extending the attestation submission window for validators. • EIP-1153: Transaction-long data storage for temporary workspace during transactions, reducing costs and improving efficiency. 🔮 Most recently, Vitalik Buterin, the co-founder of Ethereum, has updated the Ethereum Roadmap. If you missed it, here is his official announcement on Twitter: https://lnkd.in/dCekRtjt) 🔥 Exciting developments lie ahead for Ethereum, and it's not just Ethereum itself that will benefit, but the entire blockchain industry. Vitalik and the core team at Ethereum prioritize scaling as a top priority, recognizing its significance in competing with Web2 payment and infrastructure systems. I look forward to witnessing these advancements, as I believe I am placing my bet on a winning horse! Article source: Bankless

Ethereum's Dencun upgrade: A leap forward in scalability with off-chain data storage Ethereum, standing tall as the world's second-largest blockchain platform, tackles the challenges related to scalability, security, and efficiency. A significant leap in this journey is the introduction of the Dencun upgrade, a game-changer that brings innovative features to boost the network's performance. The biggest part of Dencun is introduction of EIP-4844 called Proto-Danksharding, which introduces blobs to Ethereum. 📦 Blobs: The new data containers Blobs are containers designed to hold substantial amounts of data. Each blob has the capacity to store approximately 125 kilobytes of information, serving as off-chain storage units. This shift alleviates the load on the Ethereum main chain, eliminating the need to directly manage large datasets. 🔄 The shift to off-chain data storage In the traditional setup, Ethereum housed all data on-chain, leading to network congestion and skyrocketing transaction fees. Dencun disrupts this model by enabling off-chain storage of data within blobs. This strategic shift enhances the efficiency of the Ethereum network and expedites transaction processing, offering a smoother user experience. 🔒 Ensuring On-Chain Verifiability with KZG commitments The integrity and authenticity of blob data are critical. Dencun ensures this through advanced cryptographic techniques. While the actual data is stored off-chain, the blockchain verifies its correctness, ensuring the off-chain data remains tamper-proof and reliable. To uphold verifiability, Ethereum leverages Kate-Zaverucha-Goldberg (KZG) cryptographic commitments. These commitments empower the network to verify the accuracy of off-chain data efficiently, without the need to store the entire dataset on-chain. Acting as references, KZG commitments form a secure bridge between the off-chain and on-chain realms. 📉 Calldata reduction Dencun significantly curtails the reliance on calldata—the data accompanying each transaction—by shifting data to off-chain blobs. Consequently, the Ethereum main chain processes less information, resulting in reduced network congestion and lower transaction fees. The ripple effect on layer 2 rollups Layer 2 solutions, such as Base, Polygon, and Arbitrum, have found a silver lining with Dencun. By offloading a significant chunk of transaction data to off-chain blobs, these rollups have achieved a significant reduction in transaction fees. #digitalassets #ethereum #crypto

🌟 Exciting News in the Crypto Space! 🌟 🚀 The biggest Ethereum upgrade ever, Dencun hard fork, is now LIVE! 🚀 🔗 What does this mean for you? Well, buckle up because Ethereum just got a major facelift with the Dencun upgrade hitting the mainnet. This is the most significant update since the Merge! 🎉 💡 Dencun introduces EIP-4844 or Proto-Danksharding, a game-changer in scalability. By carving out a dedicated data channel for layer-2 data, transaction fees on rollups are expected to plummet! 📉 🛠️ But wait, there's more! Dencun ships a total of 9 Ethereum Improvement Proposals (EIPs), making it tied for the largest single hard fork in terms of improvements shipped. That's huge! 💪 🌐 Post-Dencun, users can anticipate seeing benefits within hours to days, as transaction fees are expected to drop significantly. This real-world benefit is driving anticipation across the board! 🌈 💰 Imagine a future where transaction fees are no longer a dealbreaker but merely an afterthought. That's the vision Dencun is bringing us closer to, according to Hannes Graah, a builder of crypto wallet Zeal. 💼 🔍 Philippe Schommers, head of infrastructure at Gnosis, highlights that this scalability solution doesn't sacrifice decentralization, a crucial aspect of Ethereum's ethos. 🌐 🧩 Lucas Henning, CTO of Suku, emphasizes that while it's still early days, Dencun is a vital piece of Ethereum's grand ambition of building a larger scale, fully decentralized network. 🌟 🎉 Eli Ben-Sasson, president of StarkWare, sums it up perfectly: "It's the moment we've been waiting for. Today will go down as the date of birth for a dapp-for-everything culture." 🎉 🔥 Exciting times ahead in the Ethereum ecosystem! Don't miss out on the action. Upgrade now and join us in shaping the future of decentralized finance and beyond! https://lnkd.in/gGWprGZi 🔥 #Ethereum #DencunUpgrade #CryptoRevolution 🚀

Did you see announcement of Uniswap? In my opinion very critical, and not good news for Ethereum. Here it is... https://lnkd.in/gFVbRHWi => Uniswap will hv its own DeFi-native Ethereum L2 powered by OP Stack. For quite a while, we have seen that L2s are parasites living on Ethereum (in theory the L2s make sense to grow an Ethereum ecosystem faster but in practice we see slow overall growth which multiplies the risks of value flowing away from the center along with significant fragmentation, etc). They take value from ETH and pay very little for the security provided by Ethereum (in average they pay as little as 0-10% of their revenues made). Example (past 30d): Base made USD 2.24m revenues and paid only USD 299k for security. This is not going to change anytime soon. And now, we have heavy-weight projects like Uniswap, that are responsible for about half of the ETH burning (https://ultrasound.money/), that take their activities onto their own L2. Other bigger projects can do this as well, and may just do it. With latest move of Uniswap, risk is increasing that Ethereum might slowly become less relevant, bit by bit and then suddenly faster. And any L2 could secure itself in future with another L0 or L1 blockchain. Having said this, just looking at current statistics of Ethereum (TVL, Defi volume, revenues, etc) that shows still being the king among the L1s may lead to wrong conclusions. Competitor chains with less technical debt are catching up fast and cannot be ignored despite their current shortcomings that are being addressed. In particular, as mentioned earlier, Solana is evolving well and SUI has started to even take activities away from Solana (and Ethereum). Crypto-ecosystem is wild and the accelerating change / evolution makes it very difficult for anyone to anticipate correctly where the journey goes. What feels right today can be wrong tomorrow already and in hindsight all looks easy. Again, after 10 years of an Ethereum journey, we need to ask ourselves whether ETH can still be the fastest horse or rather, become one again..or is it better to re-assess the current status radically. I tend to believe that the Bitcoin story as digital gold and TradFi increasingly going into this hard-capped asset has many more years to go before big questions will be asked such as whether diminished mining rewards will be sufficient to pay the massively higher security needs in let's say 10 years. But for now, not an issue. This leaves us with the question which L1 is best positioned for the future to offer a permission-less and immutable platform to enable economic activities..always keeping in mind that we are in the area of exponential growth and AI will massively increase speed of change. BTC = about $62'900 ETH = about $2’455 SOL = about $147 ICP = about $8.20 SUI = about $2.15   (As always, whatever I post on Linkedin from time to time is my personal opinion and cannot be construed as financial advice, you all know the drill)

Part 1: Long time no post 🙂 Ever wondered how new improvements make their way into Ethereum? Today, let’s dive into how proposals are made, discussed, and eventually become part of the Ethereum ecosystem — everything you need to know, all in one place! 😉 So, how does Ethereum evolve? Ethereum’s development process is modeled after Bitcoin’s. Bitcoin uses BIPs (Bitcoin Improvement Proposals), while Ethereum has EIPs (Ethereum Improvement Proposals). These are documents that outline proposed enhancements to the network. (Once again, Satoshi Nakamoto’s influence). Here’s how it works: If you want to propose an improvement to Ethereum, you go to the dedicated forum at ethresear dot ch and write a blog post outlining your idea. Anyone can submit a proposal — there are no restrictions. There’s also no formal format for the post; you can write it however you like. Generally, these proposals come from researchers within the Ethereum community or development teams. Once a post is up, it’s discussed by the researcher community. They first determine whether this proposal should be integrated into the Ethereum protocol or if it's better suited as a standalone product. Most proposals end up as products. If you browse the forum, you’ll find a wealth of innovative ideas for decentralized technologies. Many leading crypto technologies have been discussed here. If developers decide a proposal could be integrated at the protocol level, someone steps up to draft a document describing the technology — this is the EIP. The EIP must explain what the proposal is, why it’s needed, and how it will improve the network. Technically, it’s a document in a GitHub repository. If no volunteer emerges to create the document, the idea remains on the forum. There are now over 8,000 EIPs in total. Next comes the EIP discussion on the forum. If the community isn’t interested, the proposal might be set aside and forgotten. But if an EIP sparks interest, a developer or a team might jump in and say, "We’ll build a prototype!” The funnel from EIP to EIP with a prototype is roughly 1:10. That means out of 8,000 ideas, about 800 are developed into prototypes of reasonable quality. Often, these prototypes are created by developers from various teams within the Ethereum ecosystem since there’s no direct payment for developing an EIP prototype — it’s a purely non-commercial effort. Occasionally, if an EIP is especially compelling, it might receive a grant, though that’s more of an exception. If the prototype is completed and the community approves it, the proposal can move forward to implementation. This means the EIP discussions enter the call with All Core Devs. All Core Devs is an assembly of, usually, one developer per Core Dev team of the Ethereum ecosystem. The number ranges at times, but generally, it’s about 10-20 teams that work on the key Ethereum tech. Link to the full blog post:

Ethereum's Dencun Upgrade to Revolutionize Layer-2 Blockchains, Is it change anything? Mark your calendars for March 13! Ethereum is set to undergo a groundbreaking upgrade with Dencun, paving the way for near-zero fees on layer-2 blockchains. Ethereum's Dencun upgrade, positioning the network as a robust database for layer-2 blockchains to store data efficiently and cost-effectively. This improvement opens the door to near-zero transaction fees for layer 2 users, potentially attracting a surge of new participants to the Ethereum ecosystem. The upgrade addresses scalability concerns, providing the necessary infrastructure to support millions of users on layer-2 blockchains. This positions Ethereum as an ideal distributed database for other blockchains, expanding the network's total addressable market (TAM) and fostering further growth. Lower costs for layer-2 blockchains to store data on the main Ethereum blockchain are expected to translate into reduced fees for users. As a result, this enhancement could make Ethereum more attractive and accessible to a broader user base. Rollups, a key feature of Ethereum's protocol, will play a crucial role in this upgrade. By processing transactions separately from the main network, rollups enhance speed and lower costs, offering a solution to scalability challenges. Layer 2s, built on top of layer 1s, further alleviates bottlenecks associated with scaling and data. Despite the anticipated benefits, it's crucial to note that the direct positive effects of the upgrade may not be immediately felt by base Ethereum users. Fee reductions promised to layer-2 users may not impact those transacting on the primary Ethereum blockchain.