Dencun updates, Connext Bacco and more - The Daily Gwei Refuel #702 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of the delway refuel where C latest news in the ethereum ecosystem I'm your host Anthony s today the 8th of December 2023 all right everyone let's get into it so first up today we have a fresh all core devs update from Tim biker now this was the I think last all cor devs call for the year obviously we're heading into the holiday period now there aren't going to be any more calls until the new year and you can check out his thread or Tim's thread I'll link it in the YouTube description below but the meaty bit the meat that the bit that all of you probably are interested in is uh timelines around Denon or denune updates generally now I put a tweet out myself today uh saying you know Denon is the next big upgrade coming to ethereum it obviously includes

EIP 4844 but there's no main net date still uh but it was just confirmed today that the core developers are indeed targeting January to Fork the girly test net over to denk now we obviously already knew this guys we already knew um that January was kind of like the target here but it's basically hard confirmed Now by by Tim boo boo himself self which is you know he says in the thread here which as I said I'll link the thread in the YouTube description below and then obviously following along from that we've got the other test Nets to Fork still and then May net and in my tweet I said that my own estimates put May net in March or April look I'm pretty optimistic about March to be honest because I don't feel like it it needs to be pushed out to April unless

there's some issues in the test Nets or some bugs that need to be like some major bugs and need to be squashed or anything like that I feel like March is a pretty good uh kind of window right now now in terms of when in March I'm not exactly sure I mean I can speculate right now that if we do girly in early January and it goes fine then we do Hol sky hsky and sapoia you could probably say mid-march or something like that um yeah about mid-march would make sense just going off the timelines in my head I guess and and how I expect this to play out but again that definitely depends on everything just running smoothly and then we go to main net with it uh in in in in mid-march and then it's live and we get to enjoy the benefits of those of those upgrades now

as I said last week or I think maybe earlier this week the cevs are already hard at work on the next upgrade which is tentatively called Petra I'm just calling it Petra now uh which will in hopefully include some really cool uh cool eips like increasing the max effective balance per validator so that we can consolidate validators which is actually going to help with EIP 4844 by the way or with blobs I should say generally because if we can reduce the networking load on the network or the P2P load on the network by consolidating validators down then we can increase the amount of uh blobs that we have available to l2s which uh obviously gives the l2s more capacity uh so if we get Petra I don't know if it will happen end of end of next year maybe hopefully

it will but let's say it happens end of next year and then we see like a pretty big consolidation of validators and then the network load um gets better then we could potentially see you know a tweak done to to blobs in order to get those blobs uh in order to to to get more blobs or I should say a tweak done to RP 4844 in order to get more blobs and get more capacity for l2s but also on top of that I mentioned uh you know Terren from prabs put together a a post on this called EIP 4844 plus which is basically uh changes and modifications that client teams can actually make in order to to bolster uh IP 484m blob transactions generally without requiring a hard Fork on the network which is always a good thing because requiring a hard Fork to

do anything takes a long time as you guys have seen I mean by the time Denon goes live it will have been a year since almost a year if it goes live in March since uh Chapala went live which was Beacon chain withdrawals right so it definitely takes quite a while for L1 upgrades to go through which uh you know is not something that we that we can rely on so anything that we can do out of uh Network upgrades out of layer 1 Network upgrades the better it is and this goes back to I guess like ethereum's way of scaling too like one of the major reasons why we're scaling via the layer 2 Centric road map or the rollup Centric road map I should say is because they can move so much faster than layer 1 can I mean imagine a layer two having to wait 6 to 12 months every

time they wanted to do anything every and and they wouldn't even be guaranteed to get their changes into the protocol because you have to basically convince the the ecosystem that your change or your EIP is worth including in the protocol and there have been eips that have been accepted but have been pushed back a lot of times like the eof in um eips that have been pushed back and a bunch of others out there so really the less that we have to I guess like rely on L1 for those sorts of things the better U that's not the say L1 won't keep upgrading but yeah 6 to 12 months is the kind of time frame for L1 upgrades these days we just don't know how long it's going to take I mean people expected denune I mean I expected denune in November right and now it's

potentially hopefully happening in March here and that's because we ran into unexpected I guess like issues with Erp 4844 but also we needed to do more testing on it because it's such a major change and on top of that there were major changes made last minute like the one that I mentioned the other week that uh that required even more changes so when you take all of that together yeah there's a reason why we don't want to do too much on L1 it's just too slow to upgrade the the L1 too slow to change things so we push things out and we have this kind of subtractive mindset in the ethereum ecosystem where essentially we do the I guess like you could call it the bare minimum on layer one and then push out other things to Layer Two all right so Tony has an update to

his me boost. peak's website today so he said considering the re relevance of timing strategies I've expanded on the number of validators displayed on meev boost. this update aims to uh to enhance our ability to track which validators are engaging in Zero Sum timing games and which ones aren't uh and you can go check this out obviously on the meev boost. P website here I'll link it in the YouTube description below but you can see the screenshot that Tony has taken here of what this currently looks like you can see all the validators down the bottom all the validator services I should say down the bottom and if they're uh I guess like um uh if they're actually participating in or engaging in these zero some timing games and which ones aren't you know it's kind of funny to see like the amount of stuff that

goes into the pipeline of I guess like ethereum block building and ethereum kind of uh uh Val validating as well because obviously this is mostly block building but then there's the validation concerns too uh with you know around potential censorship via attestations which we haven't seen yet but that is obviously a concern but there's there's been a lot of kind of cat and mouse games going on when it comes to block building because we we've had the me boost thing happen right and 95% or plus of blocks have been outsourced to these basically very centralized block Builders which is by Design I guess at this point in time because pretty much every network is going to end up like that where block building centralizes and block verification is decentralized

um but then we have that whole pipeline right we have the builders we have the relays and then we have the validators and over time the I guess like level of censorship on all of these things and the level of issues at every stage of this pipeline has either decreased or increased as I said like it's a cat and mouse game here and the latest thing is just these timing games which as I've said I've been around for a while it's been known for a while but then you can see which validators are actually or which validator Services I should say are actually engaging in this Behavior which is not healthy for the network and there are various ways that we you know going to try to mitigate this and going to try to fix this but it's like anything when it comes to open systems

like and and open economic systems if it can be explo exped it will be and I don't mean exploited by like hacked or anything like that but if there is a way to basically uh you know play a game that's Zero Sum um but you still make money from it at least over the short to medium term a lot of uh people will play that game right and that's just the economic reality here and I I spoke a lot about economic reality yesterday and how behaviors are formed and stuff like that but we can make changes in protocol and even out of protocol to alleviate a lot of these issues anyway but you can go check out this new update from Tony I'll link it in the the YouTube description below for you to do so right a big update from liquidy today so they have uh they have announc that

they're making D5 front ends great again through something called I apps so I apps are basically a trust a way to build trustless front ends locally that give you stronger security more control lightning fast loading times and zero front-end uh feia so uh liquidy actually pioneered this because when they first launched their app or their their kind of like a defi app here they didn't build their own front end they encouraged other people to build front ends on top of liquidy which people did uh and now uh obviously those front ends are most of them I think if not all of them are currently centralized but with I apps they hope that not just liquidy gets a decentralized front end but like pretty much every app gets a decentralized front end that can be hosted locally so that you don't have to

rely on on these centralized ones uh so you can see see here what they say I apps offer Regulatory Compliance no Central front end as as each user runs their own own private front end eliminating intermediaries you know they have better security the risk of DNS domain or server hijacks are lessened uh lightning fast loading times uh update policy you know update on your own terms there's no Force updates uh and then they've got like a nice little um comparison uh uh picture here comparing the different types of of front ends and then also uh you know the tldd obviously no third party hosts uh users serve their own private front ends and defy projects continue doing what they normally do now the coolest thing about this is that it is uniquely enabled by by blockchains and it's uniquely enabled

by blockchains in a sustainable manner as well because if you think about it web 2 had this for a little while uh and why by this I mean that you could build your own front end on top of the web 2's back end like you used to be able to build your own Twitter client on top of Twitter's back end um even at one point your own Facebook client on top of Facebook's back end but then they ended up like shutting all of that down and essentially killing that so that you were forced into using the Facebook app the official Facebook app the official Twitter app and even with Reddit did it recently where there is still some limited access but they killed a lot of the access because they want people to use their official app now of course the reason they do this is not necessarily

for anything nefarious I guess it's just for monetization reasons where they're like you know we need people to use our app because then people can get served more ads we can Harvest more data and we can make more money and I I mean you could argue that that's nefarious but I mean like they're not doing it in order to uh to essentially uh force you into something where they can they can control your whole life or anything like that and they can control what you do with your own money and stuff like that it's more so just because they want to make as much money as possible then enter crypto where essentially for example Unis swap it's deployed on ethereum L1 literally anyone can build a front end for UNIS Swap and no one can stop you from doing it it's not like the Unis swap uh Team can go there and say

no you know no one can build front ends on top of Unis swap anymore everyone has to use the official unisoft front end that's not the case at all anyone can build it in perpetuity as for as long as as ethereum runs uh you know and for as long as the ethereum network remains decentralized which obviously we believe is going to happen for a very long time if we're taking it to the extreme here um anyone forever can build a front end on top of Unis swap whether it's a locally hosted one whether it's a it's a it's um non-locally hosted one where other people can access it anyone can do it and it doesn't have to look anything like Unis swap it can just basically tap into the unops liquidity pools and as I said no one can stop you from doing that so it's not like the web 2 world where

you can basically get rug pulled on this stuff and developers typically did get rug pulled on this stuff now you can't be and the next logical step of that of all the the front end that have been built is basically giving users the ability to build their own host and use their own locally and doing it in an easy decentralized way as well so you can go check out this from liquidy I'll link it in the YouTube description below for you to do so all right hash flow has uh released their 2.0 version here so they've got smart Auto routing cross chain support including salana of course uh and you can see more details about this I'll link it in the YouTube description below but for those of you who don't know hash flow is basically a decentralized exchange for trading across uh different

kind of um chains and for basically getting potentially the best price for trading so you can go to app. hasf flow.com to to check them out here I'll link it in the YouTube description below but I'm sure a lot of you have probably used hash flow before or at least even tapped into hash flows liquidity pools uh because you may have been using another another decentralized exchange aggregator or or cow swap which could Source from hash flow or anything like that right so the cool thing about these aggregators is that they bring they unify the liquidity and this is what I was going on about the other day and I mean I've gone on about this a lot on on the refill before where the fragmentation of liquidity across the different layers is like a very short-term issue for multiple reasons the first reason is that you can have

apps that build on top of it such as matcha and offer those cross chain swaps with you know with using the bridging infrastructure but then you can also have liquidity that just simply lives offchain like there are tons of market makers out there and I I don't mean like literally offchain because obviously the assets are still on chain but what I mean by this is that a market maker can have these balances across all these different layers and then they can just run their Market making strategies and they can fill orders with liquidity sourced from basically anywhere and they do this because essentially they're able to uh to employ complex strategies in order to make it worth their while and make money off of uh the spread and and and and and other ways market makers um kind of make money here and they do it

very well so really the even if we we will we we will actually solve proper cross chain composability like that to me is not a you know a long-term issue either but even if we don't properly solve it the liquidity issue is not a big issue it is it to me it's already solved and you know more and more teams are building out Solutions every single day uh and I'm I'm excited for that because it basically removes a lot of the pain points not just for you know cross l2s but also cross l1's right like it's always funny to me when people say you no you know what the funniest thing for me is is that I was I was thinking about it today in 2021 if you guys remember if you were around back then like how prominent was the multi-chain thesis back then and it was a multi L1

thesis where everyone was saying that oh it's not just going to be ethereum L1 it's going to be all these other l1s and you know this space is bigger than just ethereum but these days you don't hear much of that anymore what you hear is people saying that oh would you want to have multichain when you can just do everything on one layer so the narrative has kind of shifted which I feel is very bizarre because I still think that the multi-chain thing is the way forward I think still think the modular road map is going to be the long-term sustainable uh you know majority winner here where essentially you have all these different chains uh l2s you know l3s and a handful of l1s not not too many l1s definitely uh you know uh not not too many of those uh because it just doesn't really make

sense uh and then all of them are just going to be into connected right and they're all going to be uh sharing liquidity with each other and users are going to basically be where they want to be essentially and use what they want to use and a lot of users won't even know what chain they're using on so then it basically becomes okay well what chain is what what chains are the most successful ones it's the ones that are able to build a community it's the ones that are able to attract developers to continue to build products on there and it's the one that's able to attract liquidity as well that's the winning chains and to me that's ethereum and it's l2s and maybe one or two other l1s and you know people say oh well there's a lot of liquidity locked in Bitcoin and

that's that that's an L1 obviously I'm like yeah but I don't really throw Bitcoin into this mix because it's a bit different where the only literally the only way that you can get Bitcoin over to ethereum or other chains is to go through a very centralized intermediary um by wrapping your Bitcoin in the future we should have at least trustless ways to get from uh from uh from one chain to the other I know that Thor chain exists today but I mean thorchain is I I don't want to kind of like uh bring on the of the of the th chain people right now because I actually don't have a problem with th chain but the way th chain does it is that they do it through um cryptoeconomic security they have like a validator set and then your incentivized not to to screw with

anything um and that's my understanding of it but in the I don't know about near future but at some point in the future we will have a cryptographic way of doing it which essentially it it becomes fully trustless and you don't have to rely on economics or anything like that um and then you'll be able to do the proper kind of cross chain bridging but not between Bitcoin and other chains because Bitcoin as a layer as a layer one cannot support the The Primitives needed to be able to do that whereas other chains potentially can but that's getting into like probably more longer term stuff here I don't think it's going to happen in near the near term but the point is is that generally I I believe that it's going to be a cross chain thing but I believe that the majority of the activity is going to happen on

ethereum and l2s and a couple of other l1s out there that manag to gain traction over time but even those l1s man like I still think that eventually those l1s just very much look like an L2 because being an L1 is so inefficient like I I know that there's been a lot of discussion about about this recently within I mean not just recently over the last few months especially but like to me if you can do the same thing as an L1 right if you're an ex if you're trying to do an execution layer at L1 if you can do the same thing as an L1 as you can do as an L2 you may as well just be an L2 I'm not even talking about a rollup I'm talking about an L2 that stores us data somewhere else right maybe it's on on IG or Celestia or its

own data availability layer like that is just so much more efficient than doing it as a layer one it's so much more effective so even in that environment I really do think that the end state is still uh uh you know the majority of activity happening on these on these layer twos uh and then settling down to to a layer one I mean it doesn't have to be ethereum of course but obviously I believe ethereum is the most secure siment layer right now and into the foreseeable future uh but that's how I generally view these things but this is a long-term thing guys this isn't going to happen overnight you know I think this is going to take like probably decades to play out where we actually know and actually see what's the most sustainable thing because it's easy for me to say whatever I you know

what whatever I say now and easy for me to to to put out my beliefs out there and my opinions on things but reality is reality I mean I wouldn't say I'm spinning narratives when I say these things but I'm giving opinions on on certain things and opinions on how this ecosystem May shake out over the long term um and you know I could be wrong on those like there's no guarantee that I'm right but I think that from all the smart people that I've listened to and all the smart people that I've I've read and and and kind of done all my own research on this I really do think that the modular design is is the winner still I I haven't really faltered in that but that's not to say that monolithic designs can't gain market share of course they can but if we're

talking about the most long-term sustainable architecture that scales to the world I think that the modular architecture is the only one that can f fulfill that but as I said that's a decades long game guys like we're not going to scale to the world in the next couple years you know obviously it's a bull market right now we'll probably get a lot of new people coming in but that's not scaling to the world a lot of these new people are coming in to try and make a quick Buck they're not really going to use onchain products besides maybe trading some shitcoins here and there and then they're going to be gone once the bare Market hits I'm talking about full integration into the entire Financial system and having crypto rails be the new Financial rails basically and not just Financial obviously you know gaming social apps or payments stuff

like that right so yeah anyway I I've gone off on a bit of a tangent there I'm going to leave that one at that you can check out hash flows update I'll link it in the YouTube description below for you to do so all right so I guess this this uh tweet was just speaking to what I was saying before but I came across this tweet from Sammy where he said the rate at which new zkai co-processor projects are emerging is crazy this is the start of the transition to compute being recentralized but verification remaining decentralized and it's going to lead to onchain apps achieving parody with web 2 apps so this is what I've been talking about a lot on the refuel and what I was just talking about with regards to essentially when you're looking at uh where the execution is going to happen it's all I

mean not all of it but like the vast majority of execution of transactions is going to happen offchain and then we're just going to ZK Pro it and post the proof on chain through these Cod processes and through the layer tws and obviously ZK rollups and stuff like that because by doing that we can have the execution be completely centralized like they literally can you know maybe there's only one person doing this right or one one entity doing this and then have the verific remaining decentralized and you still get the I mean I wouldn't say the same but you get very similar guarantees to what you get with doing execution on chain but in the tradeoff for a little a little less security and a little less trustless you get vastly more scalability and vastly more efficiency um and in the ideal World it won't just be one person doing the

proving right or one entity doing the proving it'll be many entities doing it because it's a oneof end trust assumption where essentially only one party needs to be honest so obviously if there's only one party then they can be be honest but they can still censor censorship is a is is a big issue in in this world still so if you have like hundreds of people doing doing the proving um potentially I mean doesn't even have to be hundreds maybe like tens of of of entities or people doing it um then you have much better guarantees around that there but yeah anyway as I said like that was a lot of stuff that I just spoke about before and I'm uh probably going to run out of time so I'm just uh just going to power on to the next thing so there's an update today

from op Labs so they said in Octo in October we launched the op Stacks fault prooof system on testnet since launch we've been working on the next test net release which will include all remaining features for a fault prooof system that meets the criteria for stage one decentralization so the remaining features will reduce Hardware cost of running the offchain offchain challenge agent add bonds to the system for incentivizing compatibility and integrate the fault prooof system into the bridge contracts so I don't know when mayet is going to be for this if they deployed to test net now and then maybe do more testing I don't know if there's going to be another test net after this um sorry if they if they do this new test net release now uh they say this is going to be all the remaining features but maybe they add

something else later on who knows right but if it is all the remaining features maybe we could expect main net fault proofs on all op stack chains in end of q1 maybe right which would line up really nicely with denune by the way but yeah this will be a huge unlock for the optimism ecosystem because this has been one of the main criticisms of optimism's ecosystem is that they don't have fraud proofs or fault proofs at all right now uh which means that the chain is very centralized but obviously once it goes live uh they reached stage one decentralization and they are definitely working towards stage two uh which all l2s are pretty much working towards uh here as well but yeah you can go check out uh the more information about this I'll link it in the YouTube description below for you to do

so all right conect has announced that their backo Network upgrade has gone live so um oh wait no so it hasn't gone live yet they've announced it today so backo drastically reduces the operational cost of the network and allows connects to rapidly expand to new chains and l2s so uh they said here back backo upgrades the existing slow path of the connect Network to operate optimistically reducing the operational cost of supporting new chains by over 90% while maintaining the best possible security uh beo achieves this by changing how messages are passed between change to chains to behave optimistically messages are transported between change by chains by the connect sequencer subject to a fault prooof window and disputes by Watchers instead of through the sequences of other

rollups so very cool to see this up go live and very cool to see such a massive kind of unlock for Connex here because again this goes back to what I was saying about cross chain uh composability compossibility cross chain communication not just of of sending funds back and forth but also generally of um of of message passing as well and connect is really at the Forefront here of of doing these do doing these sorts of things so yeah you can go read more about backo which uh the network upgrade is actually set to occur on December 14th you only have to wait a few days for this to go live but if you want to read more about this you can go check this out I'll link it in the YouTube description below for you to do so all right an announcement out of

polygon today so apparently Flipkart which is the largest e-commerce and one of the largest payments companies in India is launching an ecosystem chain using polygon's chain development kit and sandep says here this is a game changer for web for the web 3 ecosystem in India it not only has the potential to attract the top fintech entrepreneurs in India to build web 3 but it also might encourage many other top Enterprise and consumer Brands to build their app chains so this is really cool because I think that obviously polygon has always been really strong in business development and there was a bit of a quiet period for a bit there because I think they've refocused their efforts on the actual you know technology and especially on the governance side of things they've actually done a lot of work on on polygon governance over the past few

months especially but as the polygon cdk matures as a lot of the polygon technology generally matures they're continuing to on board these big Partners in order to get them building with in the crypto ecosystem now if they if they building their own chain or not is is a right fit we won't know until they kind of build it out and see and experiment with things but this is usually how these things happen right they they team up with an existing team in the ecosystem they being like maybe a web 2 company or something like that teams up with an existing web 3 company uh and then uh they kind of do do a bunch of testing of things do a bunch of proof of Concepts and see if it works out for them uh in the end here so yeah just a big grab for polygon here today

continuing their uh I mean continuing uh doing what they're known for which is great business development within the crypto ecosystem all right so block native has introduced something today called ether now. XYZ it's a transaction explorer that allows you to see what is happening at the core of ethereum in real time you can now observe ethereum's beautifully engineered in inner workings it feels alive and maybe even hypnotic so if you actually go to this website you can see live a live view of the mempool right now and you can see exactly what the meol consists of in Terms terms of erc20 token transactions ERC 721 which your nfts um EAS versus smart contracts estimated gas needed all that good stuff there and then you can actually click

into each of these transactions and see what's going on so as I said this is like a meol uh kind of Explorer here and uh where you can basically see what what's going on uh per per block essentially in the menol uh and basically be able to to narrow this down I mean you can you can search for different things here you can add new filters etc etc I mean look you got all the filters here on on the right hand side and basically just explore the the mempool now block native are the masters of the menol they've been working within the menol for a very long time now for those of you who don't know what the m poool is it's basically the I guess pool transactions go into before they're added into uh an ethereum block um and obviously there are different things

that are in these pools obviously it plays um a part with the um the meev Boost ecosystem as well uh so yeah now you can explore a lot of this stuff using this ether now Explorer which I'll link in the YouTube description below for for you guys to check out all right safe has introduced something called the safe recovery Hub which is a new crypto wallet recovery ecosystem launching with Signum bank and queen cover so uh essentially what this is is you can see in this diagram it's a recovery module for your safe wallet so essentially you can set up a recovery module where you have a hardware wallet or friends and family or a third party that is able to recover your wallet in case you lose access to it now this is I mean I guess I would say similar to

Ledger recovery service but from what I can tell this is fully uh trustless and fully self- Sovereign and you have complete uh control over this it's not done through some some third party unless you want it to be done through some third party uh as you can see from the selections here uh you can mix and match who what what you want to do here now I would actually say the gold standard for securing your crypto assets at this stage is having a safe multisig with the signers being multiple Hardware wallets and I'm not talking about the same Hardware wallet as well like for example you could have a 305 multisig and you could have uh uh three of the signers or I guess like five of the there's five signers there but you could have uh uh one of the signers be like a

ledger Hardware wallet you can have one of them be a a a lattice one you can have one of them be another different Hardware wallet you can have one of them be uh you know your mobile phone wallet right so you can set up all of these different um signers like on a three or five or something like that and then that becomes the kind of gold standard for uh for for securing your funds and then you go beyond that with this new safe recovery Hub where essentially you add accounts that allow you to uh uh you add ways that allow you to basically recover your account in case you lose access to it for any reason which is definitely needed for mainstream adoption guys and especially for institutional and tradire adoption because without ways to recover accounts like this and without you know uh

relatively strong guarantees that you won't lose access to your funds it's just not we're just not going to get to a world where people are comfortable putting large amounts of money on these things and that's why you see a lot of actual money um sitting on centralized exchanges still because a centralized exchange like coinbase as much as like it's not your keys not your coins and I strongly believe that for most people they're not going to put their coins on a wallet where they probably can't even secure it themselves right now right because a lot of the wallets aren't very good for security still um and for them they just trust coinbase to custody of their funds more than they trust themselves and there's not anything wrong with that because that's how a lot of I I guess um a lot of um uh uh the

way money has worked for a very long time now obviously you put your money in a bank to secure it right you're not going to keep lots of cash in your house because it's risky to do that so and it's inconvenient too because you can't access the digital Financial system without putting your money in a bank but the beautiful thing about crypto is you have the choice you can either keep it in coinbase or some other centralized exchange or you can self custody and you have a world of different options at your disposal for self- custody you can do it with just one Hardware wallet obviously not a secure but you can do that right you can do it in a hot wallet very not secure but you've got that option or you can use safe a safe multisig and then in the safe multis

ecosystem you have a plethora of ways to secure it I mean you really aren't it's it's it's kind of like unlimited unlimited possibilities what you can do here which is really really cool but yeah so kudos to to safe for getting this out there today you can go check out the full details of this I'll link it in the YouTube description below uh for you to do so all right just to finish up today's extra long episode which is funny because it was almost a rug fuel today guys just to just to just to keep you on your toes there I was like sitting at my desk and I I've had this annoying sinus infection and you can probably hear it in my voice and I was like oh I'm so tired I don't know if I can do a refuel today but I was like

no I'm going to power through it's a Friday I can't leave these guys hanging till Monday so yeah I mean but I've gone overtime anyway but I really wanted to talk about this tweet so I put out this tweet today where I said some things I'm excited for next year in the ethereum ecosystem first thing an eth ATF possibly being approved honestly guys I think that there's a really high chance of the eth ATF being being approved the first deadline I believe is in May now that is I believe the arc deadline and one other of the filers deadlines and if the BTC ETF is indeed approved by Jan 10th which is the arc deadline for that then it stands to reason that the eth ETF will be approved in May which is not very long after the BTC one which is in probably the heart of the bull market at

that point so things are going to get pretty crazy there and then you've got igen layer and reaking going on Main net I think igen layer and reaking is going to be one of the biggest things over the next couple of years in the ethereum ecosystem I'm not just saying that because I'm an investor in Igan layer I'm an investor in IG L because I think it's going to be one of the biggest things you know fun fact there's a lot of deals that I actually pass on because I don't believe in them guys like I know I invest in a lot of things but you should see the list of things that I've passed on it's it's pretty long because I just don't believe in them but but I know that there are a lot of concerns around reaking but my thesis is that the

only way we're going to see them play out is if they play out on Main net but also I think there's just so many cool use cases unlocked by this um and I just really can't wait to see that uh see that go live there then obviously we have EIP 4844 which is going to bring layer 2 fees down which is going to be really cool l2s just generally becoming more performant uh obviously the l2s can upgrade themselves to become more performant and continued user experience improvements across the board which I think is probably the biggest thing out of this list to be honest I think that the user experience if we if we improve that and we are able to bring more and more users on chain then everything else falls into place basically everything else is secondary to that I believe because if we do everything else and the

ux and the user experience is still bad then we really limit the amount of people that can actually use this stuff to just the tech savvy people still so we need to improve ux across the board which is happening obviously every day I'm seeing a new ux Improvement come to come to Market um and I expect that to continue into into 2024 so yeah good time to be in ethereum gu an ethereum guys good time to be in an ethereum e system and I'm bullish as ever on ethereum not just because the price went up over the last 24 48 Hours uh just because there's so much happening and uh I I you know I can't wait to cover it for you guys uh all of next year as well but on that note that's going to be it for today so thank you everyone for

listening and watching be sure to subscribe to the channel if you haven't yet give it a thumbs up subscribe to newsletter join the Discord Channel and I'll catch you all next week thanks everyone