ETH ETF update, Client diversity improving and more - The Daily Gwei Refuel #719 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of the deway refuel W cup latest news in ethereum ecosystem I'm your host anthy s and the 24th of January 2024 right everyone let's get into it so kicking off today we have some eth spot ETF related news so you can see here there is a video or there's there was an interview going around between the SEC commissioner Hester Pur uh and one of these I think crypto um crypto news outlets now Hester said on this interview and I quote we shouldn't need a court to tell us that our approach is arbitrary and c and capricious in order for us to get it right so I certainly hope that wouldn't be the case with regards to ethereum ETF so basically what she's saying is that she really hopes that the SEC can basically approve these things without having to go

through the courts to do so because obviously the court basically the courts forced um the sec's hand when it came to the spot BTC ETFs because of the grayscale win uh back last year and H is basically saying that she believes that that you know the SEC shouldn't have to be dragged through the courts again in order to approve these e got ETFs uh now that's a really positive signal but at the same time you know not to not to put a damper on things here but at the same time this is just very on brand for Hester she has been an ally for crypto for a very long time now she is obviously the complete opposite of Gary gendler if you've been following Hester at all and obviously you guys know what Gary gendler is like so for her to be saying this I'm not surprised at all uh

and it is totally expected and totally in line with how she views this industry and how she's been a champion of crypto within the SEC but it obviously really depends on Gary G he was the tiebreaker for the I guess like vote on this spot BTC atfs you know obviously it was a 3 to2 yes and no vote there so really it depends on him when it comes to eth now I have mentioned like plenty of times on the refuel that you know garyan they used to call Ether security but then he changed his tune I think it was at least 6 months ago now where he stopped directly calling ether security and just started saying that most crypto assets are securities and obviously the SEC uh is still fighting that point in court with coinbase and binance and and even Kraken uh but when it comes to eth

specifically I think that eth uh you know is is is pretty safe at this point and I always thought that eth was safe uh from the SEC but I think that the fact that genla hasn't even said anything about eth being a security and also eth wasn't listed as one of the assets that the SEC considers to be a security in their lawsuits against coinbase and binance and Kraken yeah I mean I I feel like the the chances of it ever getting labeled a security are basically zero at this point uh and because of that I feel like the chances of a spot e ATF getting approved are quite High I know that the ETF guys both James and Eric I've mentioned a bunch of times in the refi before have said that they give the odds at around 70% that the ETFs are approved by May which is

the first final deadline or the the the first batch of final deadlines I think there's two that are du in May so 70% is quite High odds I mean it's kind of funny because people said that there was like you know people still think that there was a there's a 0% chance I mean people thought there was a 0% chance of the BTC spot ETF going live but those were obviously live there so I think that uh definitely the E spot ETFs are getting approved you know I I I'm not going to say I have like like 90 plus% odds on May because they may delay it and then just approve it later in the year but as we've seen when they deny these things or I should say deny these things uh they tend to get sued so maybe they're going to approve that to avoid

another lawsuit because they have a really bad track record in the courts right now and they probably don't want to add to that track record now the final thing I'll say on this is that I know there's been a lot of talk recently about whether the BTC ETF stuff was bullish or bearish for for BTC you know whether it's going to be bullish or bearish going forward and I want to reiterate the point that the move on BTC and on other assets uh obviously within crypto based on the ETF hype happened from 25k to 50K that was the move I I know I've been saying 25k to 45k but technically it went to almost 50k I think 49k so but the the bulk of the move is definitely 25k to 45k and also eth moved during that as well eth did lag of course didn't move nearly as much

I think it went from what 1 1500 to like 2.3k or something like that so obviously didn't move nearly as much percentage wise but if you actually look at from bottom to the price right now both BTC and eth are up about the same amount so people are speculating on okay well you know is is eth going to actually go up against BTC and go up against USD of course leading up to these ETFs and then is it going to be the same thing where it has a sell off and then you know there's going to be outflows out of eth e which is the grayscale product because obviously we've seen a lot of outflows out out of gbtc it's speculation um but you know my personal view on things is that the ETFs are a huge net positive for crypto over the long term over the

short term at the end of the day people are going to speculate around these things they're going to price it in especially when it's something so obvious like for the the market uh thought the chance of the BTC spot ETFs getting approved was basically 100% it was one of the most obvious trades you could take and obviously you know people rotated out of Bitcoin into other assets within crypto because they were making money on BTC and they're like okay well I want to go speculate on other things but yeah I I think at the end of the day today it's all speculation but uh as I've always said I think since pretty much the day that black rock filed for an ETF a BTC spot ETF and it became a new narrative within crypto I think I've said from even back then that the real

uh I guess value of ETFs is that they're a passively flow passive flow vehicle and they add up over time and it's over the long term and they're kind of indifferent to the price I think in terms of when they buy so act as a nice cushioning effect for the overall asset sorry for the for the asset itself so for BTC and then hopefully in the future for eth as well but anyway enough on the ETF stuff there there's a bunch of stuff to get through with regards to cordev updates and a and a pretty big update on client diversity I know I've spoken about client diversity a lot over the last two episodes but there was a lot more that happened today and it's really an exciting time for client diversity honestly I know we've been talking about it for years with within the delu

community and obviously within the E community at large but there's a lot of exciting stuff happening there but first off I just want to start off uh by saying that EIP 7251 that max effective balance increase EIP seems pretty like certainly certain to be included in the Petra upgrade uh hopefully by by the end of this year uh and today Mike nuda one of the Champions or basically the champion for this EIP uh shared on Twitter today supporting in protocol validator consolidation is a must have feature in EIP 7251 uh both Franchesco and male uh and Mike wrote up a doc to answer some common questions and explain how it all fits together so if you want to learn more about EIP 7251 uh and you you know you want to learn what the all the implications how

it all works under the hood this is a really really great explainer I mean there are some complex kind of like equations in here basically the second half of the document you don't really have to read that I think the the top half is really where the bulk of the information is I would say like just just basically all of this is is where the bulk of the information is but yeah if you're interested in that you can go check that out but as you guys know EIP 7251 is my favorite EIP that's part of the Petra upgrade it is something that I'm most excited about and I can't wait to consolidate my own validators uh and I can't wait to to see what the consolidation looks like across the bigger players because as I've said before the biggest benefit here is that once you consolidate we can start

increasing uh the load on the network and that includes increasing the amount of blobs on the network for uh for rollups and also potentially increasing the gas limit uh and also increasing the gas limit into vcal trees as well which hopefully will go live next year so there could be over the next you know 18 or so months massive scalability increases uh at layer 1 which will flow to layer 2 and a big part of it is validator consolidation because of the fact that we're taking load off the network and then by I okay I shouldn't say we're taking load off the network we're basically trading load where essentially we're taking the load off the network for the validators uh you know for the number of validators that we have on the network and then replacing it with something that we get something out of because right now the

the fact that we have so many validators is actually just technical debt we don't need it it it was part of the old sharding road map we don't need that anymore and it's actually putting unnecessary strain on the network but in you know by by eliminating that and by consolidating validators with 7251 what we basically get to do is now we get to have as I said uh we get to trade that for more blobs which increase the scalability of Roll-Ups which lower the fees for rollups and for anyone posting data obviously on ethereum L1 and then also with coupled with vehicle trees be able to increase the gas limit and I'm not talking about just a 2X increase here guys I'm talking about potentially like a 10x plus increase I've seen some people say it could be up to a 100x increase because with veral trees you

get State expiry as well hopefully uh maybe you know soon after that which basically means that the load on the network remains relatively the same as it is today even maybe even less even though we've increased the gas limit which obviously increases the overall scalability not just for layer 2os but for basically every user of the ethereum L1 Network without causing uh stress on on on full node stress on validators uh and and compromising on the decentralization of the ethereum network so really really great uh stuff happening there but you can go check this out I'll link it in the YouTube description below and then also there was a tweet thread from loadstar talking all about their view on the the next upgrade after after denum obviously which is Petra and I remember I shared a similar thread from The Ref team of from Paradigm who

builds W uh the other day this is basically the core Dev teams putting out their own thoughts into blog post and the Tweet threads about the eips that are going to be included with with uh um Petra and which IPS they think should be prioritized and which ones they think are going to be the most benefit and so on and so forth and I'm I'm really glad to see this because the fact is is that the core devs are the ones that build the things they're not the and and they're also the ones that obviously um and the core researchers they they kind of research they spec things out but the core devs at the end of the day they're the ones building this stuff and and you know there's a lot of teams building there's like 10 independent teams at this stage across the execution lay

consensus layer that are building all of this stuff so really they have an outsized influence here and an outsized say because even if an IP gets accepted overwhelmingly by the community and the community really wants it at the end of the day the cev still have to program this and still have to code this into the client s so if they think it's going to take way too long which means that we'll probably see like a large delay in in in an upgrade because of that e that Erp may get shelved and then uh keep getting worked on in the background but the other ones will take priority and you know a559 is a perfect example of this that was a huge EIP guys there was a massive uh uh kind of um undertaking because it completely changed the ethereum layer 1 fee Market but it had

overwhelmingly uh majority support I mean I'm pretty sure like 99% of the etherum community supported it but took 2 and a half years from when the EIP was proposed to when it actually went into the network even though it was incredibly uh you know beneficial to the network and it had a lot of support uh it just because it you know took a while to do all the research on it do all the audits on it get it into the into the clients so the more complex an EIP is the longer it's going to take just naturally and that's exactly what happens uh you know and that's exactly what's going to happen going forward as part of the ethereum RO map this is not never going to be something that goes away it's just the nature of building software but anyway you can go read load

Stars thread for yourself I'll link it in the YouTube description below for you to do so all right so I'm going to spend probably 10 minutes or so talking about client diversity again today so honey Abu has updated their client divers unity.org execution client diversity data to reflect that uh Lio has actually um reduced the amount of gu that they're using uh across their kind of Suite of note operators here so you can see here that uh gu was at 84% before and now it's at 78.7% still not below that critical 66% threshold uh but obviously we want uh you know we have to start somewhere now uh you remember that this data is not based on uh Network scraping it is based on data collected by Honey Abu themselves by basically going out

there and asking what uh you know big providers are running uh you know if they're running GE if they're running another client and also using publicly available information like the Lio thread here which I've actually got here and you can go check this out for yourself uh this light thread that basically says you know what what percentage of the network is using what what execution layer client so you know you can see G NE mine Basu and and Aragon in there so this is great to see obviously we want to see the number to keep continuing to come down but you know it's already down there it's already come down what 5% at least just based on on Lio as I said to you guys the only two players that we have to get to move across is Lio and coinbase and right now if coinbase switched across

from 100% G to 100% nethermind for example they're probably not going to switch over 100% they're probably going to do like a hybrid approach but let's say they did we would instantly solve this issue that's how relatively easy this issue is to solve because it doesn't require you to you know unstake your eth and move to another provider like uh basically um Shifting the uh the eth stake on the on the vegan chain does it it doesn't require some like massive Financial incentive to to to do this or anything like that all that requires is awareness and education around the fact that hey this is how the ethereum protocol has been constructed you need uh to basically uh make sure that you're adhering to this and then by doing that you're able ble to uh protect yourself and protect your users that are taking with you from any kind of catastrophic

risks here so I'm very confident that in the next couple of months we're actually going to see gu get below that critical threshold and I say a couple months because obviously coinbase is working on it they said they've got a a Target date of like I think um what was it like end of Feb to give a give a road map here um but yeah I mean they've already said that they're going to be reducing their Alliance on gu Lio is already working on it slowly slowly slowly but surely you can see here and on top of that as well there was a comment from uh uh VP of growth at Kraken here saying that the team is currently exploring switching off of gu at Kraken so I think that if I if my assumption is correct here I think Kraken is 100% gu right now uh which

obviously isn't ideal uh and I think they're also using a lot of prism too uh if you can if you if you trust rider. Network I think that yeah they're using almost 100% prism so not only do they have to get off gu they also have to get off prism but the consensus layer stuff is way less of a concern right now obviously as you can see uh here the consensus layer is very very healthy no matter what data set you look at it's it's quite healthy uh especially compared to the execution layer but yeah if you look at Kraken here they account for what 3% of the network if they were able to switch completely off GE that would be a huge huge boost as well so but still I mean coinbase and Lio switching off is enough but we should get as many to switch off as possible

and it's not about and I should be clear here it's not necessarily about switching off gu it's switching off the super majority if if nethermind had the super majority people would be saying the same thing gu is an amazing client guy it is super reliable it's been around forever like basically since day one it has a lot of features that um you know that people like about it people are used to it large staking Enterprises and and entities like it there's nothing wrong with gu what's wrong is any one client having a super majority that's what we're targeting here and it's just gu in that position right now so so yeah and actually uh and a tweet that related to that was something here from Marios who is a developer on gu who who works on gu he said yeah I would encourage everyone to change the debate around

ethereums client University from talking about gu to promoting the advantages of other clients nether mind has a great plug-in system and with a with Paprika a purpose built database for state and then he goes on to list some of the other benefits or some of the benefits of the other clients out there the other execution layer clients out there and I'll link this to read in the YouTube description below uh for you to check out but this is another thing and another question that I that I basically addressed today in the daily grade Discord Channel where people were asking you know why has it taken so long to fix execution layer client diversity well that mainly I would say it's because the other clients weren't up to scratch like never mind baso and Aragon weren't considered to be up to scratch until maybe 6 to 12 months ago with gu uh and

a lot of big institutions didn't want to switch over and a lot of them probably didn't even realize the massive risk of running gu uh and you know I I know I talk about these risks a lot and I I thought I had this up today but there was a really really great uh tweet thread and blog post which I'm going to bring up for you guys here from from labus that was put out yesterday that basically goes through exactly how you can lose all of your eth staking with GE in a in a in a in a um sorry staking with gu as your execution layer client in a scenario where there is a bug now the blog post itself I'm going to bring up here I just want to highlight one piece of this so some people brought up well you know if it's an inactivity leak

doesn't everyone just get leaked until or doesn't every validator just get leaked until it hits 16 eth and then it gets ejected from the validator set yes that's correct that's how it works and you could get leaked to 68 very quickly because it's it the um quadratic inactivity kicks in if obviously a lot of the network is is offline here at the same time but one thing that may not seem intuitive to a lot of people because then it's not something you really think about is that even if you're leaking out to 16 eth and you've only lost 16 eth you haven't lost your full deposit you haven't lost the 302 you've only lost 16 e what happens is that you go into the exit Q so now remember ethereum staking has an entry and exit Q so you go into the exit que even if your Force exited now what do

you think happens while you're in that exit que well what happens is that you continue to leak eth right it doesn't stop at 16 eth while you're in the execute you continue to leak out so what happens when a large part of the network is leaking out and getting put into the execute the execute goes up a lot so labrus actually did the math here based on the current amount of eth staked and they say here that uh over 85% of validators will still be in the queue after 40 days when 90% of their stake has been wiped out so only the first 8% of validators uh to exit will keep their loss below 50% of their stake so even if it you know we we we kind of look at the the rules of the network and we say it only gets bled out the 16 eth it can go

to zero because of the fact that a large portion of the network is now considered to be offline it is inactivity leaking uh and that's how the eth gets lost so this PO blog post and tweet thread is a must read like 100% I I if anything you take out of my client diversity uh kind of coverage it's this highly recommend going and reading it I'll link it in the YouTube description below because it very cleanly explains what actually happens in the scenario that gu has a you know that that the super majority client has a bug CU I I've explained it before on the refu but this does a much better job of explaining it and breaking it down in terms of actual uh doing the math like I can't do the math live on the refu obviously because it just doesn't work like that uh but they

actually did the math so definitely go check this out I'll link it in the YouTube description below uh for you to do so but I think that's it for client diversity there are a couple other staking related things I wanted to talk about so uh jasa put out a great tweet thread today uh breaking down this chart that shows where ethereum nodes are hosted and where blocks are being proposed uh from those validators so you can see here that jper says okay this chart has bothered me deeply at first glance it makes you think that nearly 2third of ethereum is run by AWS this is false let me break down what this chart actually shows and hint ethereum is incredibly decentralized so the chart is it's a chart of blocks produced over the last 45 48 Hours by hosted services and it does not consider home stakers it

only looks at Cloud providers like Amazon and all noes in fact Jasper continues from this data we can actually figure out how many blocks are produced by home stakers in 48 hours there are roughly 11,500 blocks one block every 15 seconds I think he corrected himself it's one block every 12 seconds uh obviously because blocks in ethereum at 12 seconds uh but it's just rough math here if we look at the above chart and add up add it all up we see just about 6,000 blocks that leaves 5,500 blocks produced by non-cloud services or at least services that aren't tracked as cloud Services here so I mean go read this tweet I'll link it in the YouTube description below but it's just a great kind of uh I guess like Nuance to the fact that people try to say that all full nodes are run in you know AWS all

full nodes are all validators are run in AWS or run on cloud providers so ethereum isn't decentralized that's total and at the same time i' I've also described in the past about how the most important thing isn't necessarily when uh nodes are run like if we're talking about the most important thing like the with you know in italics the most important thing is the fact that you can run a full node anywhere basically you can run it on a rasby pi or you can run it in a data center that is the whole point guys doesn't matter if people are choosing to run it in data centers um instead of running it at home the whole point is that you have a choice right whereas uh most other networks you don't have that choice on on them to do that right so that's why we consider ethereum to be

incredibly decentralized now there was also a related picture here from Tim Robinson where he said wow look at all these nodes on AWS who knew it was so decentralized and he's obviously being sarcastic uh and he's got a uh photo collage here from Stak from home.com which superf has put together basically showing all of the little home staking boxes that people have shared now keep in mind this is only the people that have actually shared this publicly um I actually see mine on there so there are definitely a lot more that haven't been shared publicly but this is the true ethereum here guys this is ethereum when you want to say say people okay what is ethereum to me this is ethereum people staking from home on small low powerered hardware and contributing meaningfully to the decentralization and resiliency

of the ethereum network they are producing blocks uh they are attesting to blocks and they are of course running full nodes alongside that to verify all of that and ver and and possibly using their full nodes as their own RPC as well which is again one of the most Cipher Punk things about ethereum so just wanted to share that there CU I thought it was a great little image that uh that Tim Robinson put together uh so cros to him for doing that and you can check out that image for yourself I'll link it in the YouTube description below uh for you to do so all right so smoothly is now live so they're officially on boarding solo Stak is now of course just a reminder here for those of you who don't know what smoothly is it's basically a rocker pool style smoothing pool for solo stakers on

ethereum now as you guys know solo staking on ethereum you don't have a native smoothing pool uh it is something that you basically just do on your own you collect all the rewards for yourself uh but if you want to be part of a smoothing pool you now can with smooth now of course I should mention that dap node has their own version of this called smooth as well that dap node people can people running dap node can opt into but but smoothly is another option out there uh for people here so you can go to their website and check out exactly what it is and how to get involved with it I do want to note here and Shout out that the the rewards have also been uh Juiced by the eth that smoothly received during the uh gcoin grants Round 19 and also there was a

bunch of proceeds that went from a pup that honey ALU made that are going to the pool and the coolest thing about this pool is that anyone can contribute funds to it so for example let's just say smoothly goes and and and signs up as a recipient to op public grants funding right Al so so it's a retroactive public goods funding on optimism and then they get a grant paid out in op it can go straight into the pool here and then solo stakers can tap into that and get a nice uh uh you know bonus to the rewards that they're already uh that they're already getting because I know that there's a lot of comments these days around people as solo stakers feeling you know not loved enough because we were you know people were promised all these airdrops of solo stakers they were promised extra juicy

rewards uh when in reality that hasn't really materialized and I think it will materialize over time I'm really hoping services like igen layer for example do a special airdrop to solo stakers even though solo stakers are quite hard to identify I mean I think that you can you can identify them to some extent uh you probably won't get everyone but you can identify them to some extent um but uh you know it's obviously going to be hard to get 100% coverage but I really hope yeah something like IG does it I hope that that other services like maybe ethery and and swell the ones that haven't done tokens yet do air drops and stuff like that but even possibly a better way for them to do it if they wanted to or an additional way for them to do it is just to air drop to the

smoothly pool uh that would be really cool as well just juicing this pool with as many rewards as possible in order to get people to opt into it and obviously to get more solo stakers online on the network here now of course you can also as a as a solo Staker go there and opt into the pool so your rewards basically go into the pool like it does within rocker pool if you opt in and then it all gets smoothed out uh to everyone now there's been a lot of debate about this I think over the years um especially when it comes to like me Lottery blocks cuz when you think about it and I think I've done the math on the refi before about this you know a lot of solo validators out there they look at the blocks that they propose and they're

hoping to get that really big block right know from time to time you'll see ginormous blocks like hundreds of eth worth of block rewards going to something like Lio or queen base because obviously they have a lot of validators and then that eth gets spread out basically I mean they have inbuilt smoothing pools so to speak gets it gets basically spread out with all of the um the Val all of the people holding St for example um now as a solo validator your chance even if you've got like hundreds of validators your chances of actually Landing that block are incredibly slim like I mean I did the math back in the back in the day on this I think a while ago now but they're incredibly slim because not only do you have to propose a block you have to Pro propose the right block and one of those big lottery

blocks only comes around every so often so if I if you were to do the actual math on it over long periods of time let's say you did the math on it over a year I would probably go longer than a year but a year I think is a is a good starting point and you say okay well if I opt into a smoothing pool as a solar Staker uh and a lot of people a lot of other people opt in as well versus doing it on my own would I be better off in the smoothing pool there is some point where it becomes you're better off being in the smoothing pool uh as as long as there's enough other validators in there because let's just say there's you know tens of thousands of validators in that smoothing pool then the calculus becomes very different CU your chance the

chances of that pool getting one of those Lottery blocks goes up significantly and then that obviously gets shared with a lot of people on you know as part of that pool there so I would think that it would net out to be better you being better off doing that now of course that removes the feeling of winning that Lottery block like obviously half the the the fun of playing the lottery is that feeling of uh you know am I going to going to win am I not going to win and you know I I don't I haven't ever played the lottery I'm not someone who actually gambles but I think that even for most people or for a lot of people most of the feeling is of of playing the lottery is that kind of feeling of excitement that oh what if I actually win this time right so the

same is true for when you propos blocks and thinking oh you know you say a notification on your phone or you say you you proposed the block and you're like oh did I propose a you know a lottery block for example uh I mean I have that feeling too with my validators where I'm I I refresh and I see um a little green bar so I I monitor my validators on the beacon chain website and I refresh and I see a little green bar in my income thing and the green sorry a little green uh part of the bar and the green is the execution layer income and to see how much you actually earned you have to hover over it you can kind of get a rough estimate um from the size of the bar and then you can look on the on the on the left uh for for a

chart for the for the numbers but obviously I look at the color first and then I look at the numbers so for that Split Second I've got that feeling of oh wow did I did I hit a massive Lottery block right so that feeling is obviously not going to be present if you're part of a smoothing pool but at the same time when you do get that Lottery block block as a smoothing pool you get to celebrate that as a community especially within rocker pool I I know they celebrate these things they have a bot in their Discord channel that tracks these things um but then as I said like you're probably better off being in a pool than doing it on your own because the chances of you getting one of those blocks on your own is incredibly slim incredibly slim uh even if you're running you know

tens hundreds of validators it's still very very slim uh for the reasons I've outlined uh before but anyway you can go check out smoothly for yourself I'll link it in the YouTube description below for you to do so all right so I've been talking a lot about the ethereum gas limit over the last couple of weeks and how there's going to be more research done into uh the potential of increasing the gas limit and what that means for the network now Tony here has a great research post on the Research Forum today that he uh put together called on block sizes gas limits and scalability now this is a really good primer on what it act all these things actually are especially when it comes to the gas limit so if you are still confused about what this is definitely go check out this post I'll link it in the YouTube

description below but this is just I think the initial post on giving the context around you know what it is why do we want to increase it what does the network like look like today and then modeling out what it would look like if if we increase it to a certain amount if we increase it by 50% 100% so on and so forth so just wanted to highlight this because it's a recommended read I read it just before and it's really great I mean I obviously already have context around this but I I read it and I was just like okay this is really great primer for anyone who wants to uh learn all about these things in a in you a relatively short amount of time because it's not a long post so definitely go check that out I'll link it in the YouTube description uh below for you to

do so all right last up here something not related to eth core development and staking I think the whole episode today was almost there was the ETF stuff at at the start uh but this is an update from scroll so scroll has unveiled their multi uh uh implementation uh that you can read about in this blog post I'll link it in the YouTube description below uh but this is something that they've been working on for quite a while and actually I remember talking to to them about this quite a while ago and how they wanted to build this thing because they basically the the whole goal of this is to build redundancy into the proving mechanism so you can think of a I mean they use the the kind of analogy here of like uh clients client diversity for provs basically so instead of just

having kind of one PR you have multiple provs so that there's redundancy built in and so that in case of any bugs and things like that it doesn't lead to like the worst case scenario for the system here so as I said there's a there's a tweet thread and a blog post you can read to get more details about this and how this all works together uh but this is really cool and I think that this is actually going to be the future of proving for for all ZK uh systems because uh at the end of the day you can't just rely on one uh system you have to have multiple systems for redundancy and we know this because layer 1 ethereum obviously um you know it all starts from layer 1 ethereum where we have client diversity we have redundancy built in there and with the

layer 2s they're also doing client diversity at the validator and and I think they're going to do sequencer diversity as well but when it comes to ZK stuff you going you definitely need Pro diversity here and you definitely need multi- prooof systems in order to make sure that in the event of the worst case scenario the system is protected from that because in a trustless decentralized system that that it should be self-healing or it should be something where you can heal without the in in case of like the worst case scenario without there being uh you know major damage to the ecoystem so yeah anyway uh big congrats to scroll for putting this kind of uh blog post out there finally and they've been working hard on this for quite a while now and you can go check that out for yourself but I think on that note that's going to

be it for today so thank 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 tomorrow thanks everyone