All Core Devs call, ENS privacy and more - The Daily Gwei Refuel #519 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of The Daily gray refuel where recap the latest news in ethereum ecosystem I'm your host Andreas honor and it's the 6th of January 2023. all right everyone let's get into it so we had the first all-called devs call of the year uh over I think yesterday it was and Tim biker has his summary thread as usual what was covered included the Shanghai scope eof uh maybe SSE SS zedifying some El bits and potential new eips so the tldr of this is that the eof eips that were potentially going to get included in Shanghai have been scrapped for Shanghai so they will not be included in Shanghai uh there will possibly and hopefully be included in Cancun which is the fork after Shanghai

hopefully coming in Q3 Q4 which will also hopefully include eip4844 but what this means is that Shanghai is pretty much set in stone like but we know what erps we want to get in there it's basically withdrawals I don't think there's any other eips uh that aren't related to withdrawals I might be wrong on that front but definitely withdrawals a beacon chain with girls in there and we can expect it in late March early April given that it's it's kind of locked in now and given that it's a very I guess like low scoped um uh upgrade or network upgrade I should say I would expect it in late March rather than April but I mean it doesn't really matter right late March early April who really cares right we know it's coming it's coming very soon uh so you yeah we'll all be able to

withdraw our stake uh uh very very soon if we want to or you know reshuffle it around all the stuff that I've talked about in the past there but if you want to get more details on on that stuff you can read this thread here which is uh obviously uh going to be linked in the YouTube description below uh but basically there are a few other new aips that were discussed as well on the call uh which are in this thread as well which you can check out too they're not obviously going to be included in Shanghai they're probably going to be included in Cancun or other upgrades coming later I'm sorry yeah in Cancun or later upgrades potentially even pushing into next year there but yeah this is great I think um look these calls obviously happen every couple of weeks there's different calls for um the

consensus layer as well and there's also different calls for things like erp4844 but these as I said before the best way to stay on the bleeding edge of the ethereum core protocol ecosystem there's always these threads from Team biker there's always threats from other people and notes from other people any major announcements from these calls usually gets broadcast on Twitter quite quickly and of course I always cover it on the refuel as well but if you want to really be at the source of everything happening on the core protocol this is what you need to be listening to and watching and and reading basically but I'm excited guys like I'm super excited for withdrawals for a number of different reasons but one of the things that I haven't really talked about that much on the refuel but one of the reasons I'm super excited about it is that we can

finally get rid of this silly fud that kind of comes in two parts one that withdrawals are never going to ship which just okay and then also that all you know once withdrawal ship there's going to be a mass Exodus from uh from staking and in lots of eight is going to get sold and the eighth price is going to dump I think we're obviously going to kill two thuds with one stone sort of so to speak where obviously once Shanghai goes live withdrawals have shipped no one can say withdrawals will never ship again uh you know no one can say withdrawals whenever ship and then on the um Mass steak unlock part I think that'll take maybe a couple of months to play out because there definitely will be a lot of stake initially that gets withdrawn now obviously that's not all going to be withdrawn to be sold uh that

could be be withdrawn and then you know people want to go stake that with another service for example uh it could be Arbitrage Loops being closed with the uh LSD tokens there's any number of reasons that could be happening and that exit queue will probably be quite high for a little while there but after that I mean yeah I don't think there's going to be any fun and especially if the price doesn't budge I think if the price really just stays even the same as it is now or maybe even goes just goes down a little bit or even obviously goes up I think that fight will be quickly quickly dispelled but the one that I'm most concerned about out the spelling is that withdrawals will never ship because I'm not concerned about I guess like excited about because I really want to know what

people pivot to next because obviously we had like so much stuff over the years of people fighting ethereum about but the the most recent ones were you know the merge would never ship and then the merge shipped and I and I wondered you know after the merge shipped what would people flood ethereum about like what would the Bitcoin maximalist go on about uh for ethereum that they haven't kind of talked about before because they've got their usual fund pieces which are all used to by now we can just really ignore those and it's kind of like they're just yelling into the void uh so to speak but then they start saying stuff like you know withdrawals are never going to ship and I see people that aren't Bitcoin maximalist listening to these people and believing it and I'm like okay well here are the facts right

like the withdrawals are going to ship uh the reason why they didn't ship was because it was uh decided that um just to get the merge simple we wouldn't ship them then and they're coming in the first hard Fork after the merge and they're coming very very soon which is all true and and all has been true for many months now uh so I'm just really wondering what they're going to Pivot too there are a few things that they can probably pivot to probably something about ethereum layer one uh you know not scaling and sharding being changed to data shining instead of the original vision of having like you know 1024 different shards now we have dank sharding which is just data sharding no execution charting uh and then we have like Proto dang shotting which is like uh you know the first iteration of that

I'm sure they're going to clue into that soon they're always like years late on this but I'm sure they're gonna try and their best to find something new to fight and that's what's going to happen there but anyway that's just one of my own little personal reasons for looking forward to withdrawals but as I've talked about endlessly on the refuel there are a million other reasons to be to look forward to this and I'm personally very curious to see some analysis you know two to three months after the merge to see where all that eighth went to see where you know all that eat that was withdrawn from the beacon chain went you know did it go to exchanges did it get restaked uh did people just withdraw it and hold it in their wallets how much of the rewards were withdrawn versus uh kept or and or

restaked right I'm sure there will be people doing analysis on that as time goes on but I'd love to have like a three month analysis uh from from when um Shanghai ships to see how it shakes out there three months may not be enough data Maybe we need six months but I think three months should give us a nice picture so that's what I'm I'm looking forward to uh especially after withdrawal ship but yeah you can go give this thread from Tim biker a read I'll link it in the YouTube description below alright so I've talked about single slot finality before which is another upgrade coming to the ethereum uh protocol hopefully in the near future but basically what this is is taking the current 12.8 minute finality time uh and collapsing it down to a single slot AKA a single block AKA 12 seconds so this is

obviously the Holy Grail of finality on ethereum getting us down to 12 second finality rather than having to wait 12.8 minutes uh because that's a substantial decrease in in the in the finality time and on top of that I believe it's uh uh it gets rid of the issue of being able to do multi-block Mev because uh of knowing I guess like who's a proposer in in the future but there is a I think there is a second uh uh I guess like upgrade coming for that there is I think there's a separate single slot finality and ssle uh but I think single slot finality definitely helps with uh that you know that um the multi-block Mev thing there any any potential uh kind of reorg attacks here that could essentially happen I mean these are all

very much edge cases but we always plan for edge cases in ethereum but the reason why I'm bringing up single slot finalities because toggle here from the scroll team put together a great little thread talking about single slot finality and um and exactly what it is and then uh linking and then how it applies to layer twos and how it will benefit layer twos especially uh Roll-Ups obviously and then links to the notes uh sorry the blog post of a Target put together titled paths towards single slot finality which came about about three months ago and that I covered on the refill three months ago and this if you want to know everything there is to know about single slot finality this is the post to read and I'll link it again for you guys in the YouTube description below but this is uh the the Bible when

it comes to single slot finality it it um has all the pros and cons all the different ways it could be achieved what trade-offs would be included I just think it's a very very good read that you should go check out as I said I'll link it for you guys but also definitely read toggles thread it adds a lot of uh context as well in the layer 2 context which I is very important so yeah we'll link both of those things in the YouTube description below for you to check out all right so Joe Groot here from the chain safe team put out a tweet thread today talking about how to bring privacy to ens and that's just something that they've been researching for a little while and they've decided to after a few trials to work with the ZK roll up uh or the Privacy ZK roll-up Aztec Network

which I've covered a bunch of times on the refill of course so in the spirit of transparency as Joe root says here you can find the full ANS domain specification uh for with with privacy at this post here so this is titled using Aztec for ens privacy and explains exactly how this would work and of course this will be linked in the YouTube description as well but you can check out uh jug Roots thread for a breakdown here now the reason why this is super interesting is because ANS obviously is great but it makes it easier for people to trace the I guess like ownership of assets to real life identities because everyone likes having their own ens name and their own on-chain reputation and profile are connected to it which is all well and

good but you would love to have privacy in that world like for example I would love to be able to use sasol.eath without having everyone know what I'm doing on that address like obviously if you go through that address you'll see that I don't do a lot on there because all of the on-chain stuff that I do is on my private addresses or at least they try to keep them as private as possible it's it's basically impossible to have total privacy you can accidentally dox yourself once and and myself and many other people that I know that have been around for a while have done this but having privacy uh like having sasol.aith be able to engage in things on chain while preserving my privacy would be amazing like that be a game changer definitely uh not just for the fact that I could do more stuff on sasol.heath

without people being able to know what I'm doing but it also allows me to just consolidate addresses like I hate having to use multiple addresses that is to me that is one of the biggest ux hurdles like all the other stuff that people talk about I think is secondary to privacy and and scaling of course those are the two things that I've said for a long time that I think need to be sold before we can even think about Mass adoption and the reason why is because like even if people want to keep their privacy right now they can to an extent by using multiple addresses but that's such a bad user experience like even for me I mean I I'm not power users so I have a lot of addresses but even once it gets past like like maybe even three or something like that it starts getting

super annoying you have to label everything you have to remember which address interacted with which uh exchange you know which ones interacted with each other make sure that you haven't interacted with the same address on uh two of the same address uh two of your same addresses it becomes a headache really really quickly and I have like oh my God the amount of dresses I have is insane I mean I think last time I counted I had at least over 50 not actively used but I changed them from time to time but still like the fact that I have them all there and I have to keep track of them and you know they have different assets on different addresses just super annoying so being able to and let alone you know tying an ens to them so being able to to obviously have just one or even two

addresses with ANS is attached to them uh Bob still preserving my privacy would be incredibly beneficial obviously not just to myself but to the user experience in general but uh yeah anyway I got on a little bit of rant there but jagrut's thread is a really great read the post that he linked to is a really great read as well we should you should go check out and great to see that they're working with Aztec to do this as Aztec really is the leader here uh for privacy preserving layer twos there are other things like Nightfall uh that is under the polygon umbrella right now but hashtag seems to be at the Forefront uh for now Nightfall seems to be more focused on Enterprise Solutions which is totally fine uh but Aztec I from what I can tell is definitely more focused on the uh non-enterprise solution so just

uh the I guess crypto native uh Solutions crypto native people and getting them onboard it into their ecosystem so yeah definitely go check this out we'll link it in the YouTube description below all right so speaking of ens uh they put out a tweet thread today where they said ens partnered with coinbase to make cb.id usernames available on coinbase IOS and Android mobile apps now 103 million app users can now link cbid usernames to their mobile wallets mobile app users can claim a free human readable CB dot ID username making identifying and interacting with wallets easier than ever okay this is really cool obviously like coinbase has a massive user base uh their coinbase wallet is fast becoming one of my favorite wallets it's definitely got a slick interface it works a lot of

different things and they're improving it all the time but it goes back to what I was saying about privacy here like you just don't get any when you tie an ens that can be tied to your identity uh to to your address right to your ethereum address or two uh your address that you use across different evm chains and by doing that like I feel like it why why okay I have to kind of I guess like be be um probably more uh man what's the word I'm looking for here uh more accurate in my wording here but I think like I I like the fact that coinbase is doing this I like the fact that ens is doing this I like the fact that people are able to get their free CB ID usernames but I don't like the fact this is basically training users to uh give

up their financial privacy essentially right like traditionally as a user you could go from coinbase to an address and you could keep that address private from everyone except coinbase obviously if coinbase if you're sending from coinbase uh you've kyc'd with them and they know who you are and then any employees that have access to that information can can do that as well so it's not great but it's not terrible right so the terrible part is training users to uh basically use their cbid docks their entire Financial uh Private Financial um uh usage of the chain and then uh just basically afford them no privacy so I would like to see coinbase maybe focused more on the Privacy aspect here it might be tricky for them to do so given that they are heavily regulated

and they have to watch what they say when it comes to privacy because is obviously the uh you know the US government regulates them um but but yeah I mean I I'm closely optimistic about stuff like this I like it for adoption I don't like it for the fact that it gives up uh that it trains users to give up their privacy but I mean for years now we've all been giving up our privacy doing stuff on chain anyway uh so so yeah maybe that's what users have to do they have to learn about that they'll uh they'll learn that you know by by doing this they give up their privacy and maybe they go on to more privacy preserving Solutions later unfortunately no one uh in uh probably most of coinbase's users can't use something like Toyota cache because it's sanctioned but they can still use Aztec

uh for now hopefully Aztec doesn't get sanctioned uh which would be cool to see them do as well maybe they want to use Aztec to preserve their privacy there but anyway great to see this uh on the adoption front from coinbase and ens but I thought it was worth qualifying with that extra information there all right so uh the geometry Twitter account today uh put out a little tweet there where they said in ZK we typically consider computations ran on on uh private data but what if we wanted to hide the computation what applications can we unlocked and this is sticking with the Privacy theme Here of basically uh being able to hide the computation that's being done in uh I guess like smart Cloud track interactions for example so this is a quick thread here talking about this and being a bit

technical about it as well as a blog post on this in the geometry Research Forum which is called functional commitments ZK under a different lens and I mean this is quite complex and Technical it's not very long but definitely not going to understand it unless you are into this sort of stuff and there's a link to a research paper as well but I just thought it was worth highlighting since it flips into the theme of what I'm talking about what I've been talking about for like 10 minutes now which is the Privacy aspect of of things I think privacy definitely needs to have more Focus I mean you guys know scaling and privacy are the two things that I'm I I definitely care most about and for us a lot on and think that we need before we get Mass adoption but scaling generally gets much more

attention than privacy which is obvious why because people want to be able to do stuff on chain without having to pay an arm and a leg but privacy in my opinion is just as important but it's also obvious why people don't want to talk about privacy because of the recent ofac sanctions they may be a little bit cautious about it which is totally fair like I'm not knocking people for that but that shouldn't prevent us from creating privacy preventing Solutions while still being able to be still explaining to government officials into regulatory bodies that we can still have privacy while allowing them to do uh you know audits on this sorts of stuff for example and and the irony of that is that tornado cash actually allowed this to happen they gave you a a a a special key or a special uh part of date a bit

of data that allowed you to show uh or at least see all of your interactions improve to to people all of your interactions improve to law enforcement if you had to uh even while preserving your privacy so hopefully we get more of those conversations as time goes on on uh but anyway you can go give this a raid I'll link it in the YouTube description below all right so coffee on Twitter here today has introduced something called roll-up economics ZK sync and Aztec connect this update to their Dune dashboard includes data posted to L1 by ZK sync and Aztec connect compressed transaction data and proofs and each cost of posting this data to L1 for both of these networks now you can check out this dashboard for yourself on Dune which of course will be linked in the YouTube description below I've

highlighted this before I believe maybe a few months ago now this is one of the really great dashboards that I like referencing from time to time and the fact that I've added ZK sync and um and uh and and uh Aztec as Tech now is is really positive and you can see they've been added here so you can see that the cost to publishing call data to L1 for Aztec connect uh went up in December uh a lot actually it basically reached its all-time high so they spent 54 eighth in the month of December to publish this call data to ethereum uh and ZK sync uh in December published uh sorry I spent about 38 eighth whereas they spent more than that in May of of last year you can see that they've spent about 166 eighth

uh but yeah I mean like this is just really great way to track it month by month yeah uh as well as a bunch of other things like transaction fees which you can see down here as well uh for uh for data published to L1 so actually no I'm just seeing if I'm I'm looking at this right publishing call data to L1 yeah that's the cost there and uh publishing uh data uh to our one yes the same I think it's the same dashboard or similar dashboards here but anyway you can go give this a read and check this out for yourself uh the dashboard will be linked in the YouTube description below but before I move on here I do want to highlight one thing this goes back to what I was talking about when it comes to I guess like Roll-Ups using layer one economic bandwidth they use

call data and then post erp4844 they're going to be using their own I guess uh thing called blob uh blob type transactions uh which essentially is it's going to have its own fee market and it's going to be totally separate from the rest of ethereum layer one that means that ethereum layer 1 will there won't be um the sorry I should say there'll be a split between I guess looking at how much uh bandwidth of layer 1 l2s use and how much bandwidth is just being used by native L1 interactions because as I said there's a new field called blob type transactions that is only accessible how to store roll up data on it and so normal transactions on layer 1 ethereum are not going to be able to use that uh

that space that block space so to speak or blob space as we've been calling it so from that perspective these dashboards will definitely need to be updated to show that and to add that Nuance here but that'll be good to see how that evolves over time as well and see what kind of usage L1 can maintain uh even if the L2 gas costs aren't uh going to that portion or at least as part of their own little ecosystem with erp4844 all right so Jonathan Meyer on Twitter today uh said in 2022 I learned how to operate ethereum solo staking validator nodes through that effort I made the following process overview and tracking file to help me along the way this is basically one of the best kind of I guess and most detailed guides or at

least resources for solo staking that I have come across um in terms of uh guys themselves I think Summit esat's guides are definitely uh the gold standard here one of the gold standards uh but Jonathan Meyer goes A Step Above here and shows you things like what he actually did and in what phase so for example his first phase was acquiring and provisioning Hardware which included buying a nut computer checking his internet speed ensuring router has DD and S static IP setting available and then he makes a comment here on each of these things so in his comments under buying a nut computer he says should be well should be a relatively modern CPU 16 gig of RAM or more uh SSD of at least one terabyte and two terabyte plus is better and then

he goes on in his other phases uh where he says install and operate the software depositing the stake and configuring it monitoring alerts with notes here so this may be something that you might uh I guess like uh get value out of because like this is all the stuff that I think people tell themselves or make comments about and all the stuff they do but they don't document it like I did all of this stuff for similar things when I was setting up my solo validators but I didn't document any of it and I talked about it Loosely uh but I think having a document a living breathing document which is what he has here which is linked on on Google Sheets you can actually go check this out for yourself it's really really important and I I'm kudos to him for putting this together

and he also links to some uh esat's um medium at the top here as well and queen cashew which is also a great guide for for solid staking two uh but this is great I I think this is a really good resource that people should definitely go check out for themselves I'll link it in the YouTube description below um but but yeah I mean it really does also go to show that once you kind of know through I guess like the basics here it's not too complicated to get started I mean these things aren't really uh Advanced user type of things like buying a computer obviously anyone can do that right checking your internet speed it's it's pretty easy to check your internet speed there's a million different ways to do that online ensuring your router has ddns static IP setting available you can just Google

for this I mean this is probably more of an advanced user setting but and this isn't strictly needed for for solo staking um but you know doing this sorts of stuff you can learn more about computers learn more about how they tick learn more about networking and it's easy to Google for it and then in the installing and operating the software part of things I mean installing Ubuntu and preparing the server itself is not too difficult especially if you follow the guides linked here I mean I'm a Noob when it comes to this stuff guys like I am not a terminal Pro like I don't know how to uh do all the fancy stuff that people do on a terminal I have a very basic understanding of it I do know computers generally and Hardware generally but I'm not a networking expert or anything like that I would say

I have general knowledge of pretty much much you know all the things got to do with computers and how they work and how they tick but I'm by no means an expert and I learned a lot of this stuff by doing it following these guides as you guys know I recently changed from a Windows solo sticking PC where it was pretty like it was pretty MacGyver so to speak right there was just Band-Aids on Band-Aids to make things work it was kind of put together really roughly and I changed it to a Ubuntu box where I did everything from scratch again just imported my validator keys and it all worked smoothly and fine and it's been kicking along just fine since I did it so don't be scared by the fact that you have to use a command line or you have to follow a guide or there may be things

that don't work the first time you try them it's something fun in my opinion to learn how to do it don't get frustrated uh just you know just keep going there are plenty of places to get help like the eve Staker Discord and the Reddit section there as well plenty of people who will help you in the daily wear Discord Channel 2 so that you can go check out those resources but I'll link this one from Jonathan Meyer uh mayor Maya in the uh YouTube description below all right finally here we have stockware with the big announcement Cairo 1.0 is finally here so you can get your hands on the first taste of this rust-inspired Cairo version and start writing today and that's not all stay tuned for more features and Stark net compatibility coming soon so those of you who don't know Cairo is the native uh smart

contract language on top of the stocknet ecosystem they've been working on this for quite a while now and this is the 1.0 release which is basically I guess the first fully production release of Cairo so developers can start writing and testing Cairo 1.0 programs uh it's feature parody with the older version of Cairo will be reached in the coming weeks and support for Stark net contracts will be added in the upcoming Stark net Alpha version and you can get more details about this in the YouTube description below which I'll I'll link the sorry in the blog post which I'll link in the YouTube description below but this is great to see that there is just more I guess like movement on the Cairo front here as I said before I think solidity and the evm definitely are the Front Runners they're going to be around for a very very long time

their net Network effect is going to be extremely hard to break or to even put a dent into but stock quiz trying and they're trying with with Cairo they're trying with a stark net and there are other ecosystems that are going to be springing up around this as well that are not going to be evm compatible um and they're not going to use solidity they're going to use other languages which is always good for everyone both on the competition side of things but also getting more developers involved in this ecosystem here all right that's all the news for today but I did have one last thing I want to talk about to fill up our last few minutes here so there's been a bit of I guess like a chat on slash news I guess about this extra contagion that we're seeing uh with dcg that I've talked

about before in Genesis and and all that stuff there but I wanted to talk generally about this I want to reiterate that there is so much fun right now on Twitter right there's I mean there's there's a lot usually but there's so much fight around this no one has the full clear picture yet if Gemini doesn't have the clear picture from Genesis themselves and Gemini was a very close partner of Genesis and dcg then I would say that almost no one has the clear picture except maybe Genesis and dcg so we need to wait for more information to come out we can't just assume that these random people on Twitter are telling the truth or that they have any special Insight usually they don't and and some cup there's some a few examples of this uh and I think the most obvious

examples of this are a few months ago or maybe six months ago now everyone on Twitter for some reason was talking about coinbase being insolvent right and coinbase not being able to meet demand me custom withdrawals coinbase going down blah blah that lasted a few weeks I guess and then everyone stopped talking about it because nothing happened because coinbase is not insolvent I mean as I said before they're a fully regulated publicly traded company in the US they're definitely not insolvent um and we can see that right uh okay and if they lie about their solvency Brian Armstrong's going to prison for for a long time uh so yeah there's that side of it and then you know fast forward a few months after the FTS collapse and everything and people start fighting finance and saying that binance isn't solvent and all this other stuff and I'm

like okay well let's look on chain these are the addresses that binance controls this is how many assets are here yes by Nancy Shady in their own right and maybe they do dodgy things but I don't think they're insolvent and then you can move on to something like the silvergate bank which you may have heard of people are saying they're insolvent well an article came out yesterday showing that in fact they're not insolvent the reason their stock price is dumping is because their business is going to because all their customers are actually withdrawing their assets um due to both the bear market and this contagion and just general fear and they've actually been able to meet those withdrawals and they have enough um enough Capital that they can sell or enough things that they can sell off to meet the withdrawals as well because they hold us treasury debt and bonds and

stuff like that uh and it and it also showed that in doing so in actually meeting this customer withdrawals they are raised all profits that they had made since 2013. so ins they they were able to meet withdrawals and they also sacrificed nine years worth of profits which is pretty much like just after they got started I think and that's why their stock price is dumping their stock price is not going down because they are insolvent I mean I'm sure there are some kind of uh value you leak there from people thinking they are insolvent but it came out that they are not that they have the assets there they've processed over eight billion dollars worth of withdrawals with no issues to their customers and they continue to process withdrawals to this day so taking all that on board yes some of the stuff that

people talk about on Twitter pans out and a lot of it seem to have panned out last year FTX Tara I mean Tara is a different story because everyone saw Terror three arrows Capital we not really saw that right not really saw ftx's insolvency either so it's typically the things that people don't necessarily see until maybe a couple of weeks before it happens and it happens within those you know couple of weeks rather than being drawn out and delayed sometimes you'll have a drawn out and delay process like what we're seeing with dcg and Genesis but as I've said before I think they're trying absolutely everything in their power to avoid having to declare bankruptcy at all because a bankruptcy process is not fun um but it's saying that like they can try all they want if they actually are insolvent or if they actually can't meet

their obligations they're probably going to declare bankruptcy but I still kind of think that they may be able to get out of it they may be able to like weasel out of it by signing off Assets in other business uh departments or putting up their own assets or taking on some kind of debt that can be paid back later who knows right or maybe they do declare bankruptcy I don't know for sure obviously I don't have any special Insight here but I just wanted to make clear that don't believe most of the things you read on the internet I think that's a rule of thumb that applies to not only crypto but everything on the internet uh but yeah on that note I'm Gonna Leave You at that for today so thank everyone for listening and watching be sure to subscribe to the channel if you haven't yet give the

video a thumbs up subscribe to newsletter join the Discord Channel and I'll catch you all next week thanks everyone