Shadow fork 5 success, Optimism Bedrock and more - The Daily Gwei Refuel #369 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of the delegate refuel where he kept the latest news in the ethereum ecosystem i'm your host the anthony susana and today's the 20th of may 2022 all right everyone let's get into it so we had main net shadow fork number five happen believe it yesterday or i guess like yeah yesterday would be for most of you now um and apparently it went exceedingly well according to danny ryan here i didn't see many details of it publicly posted to twitter but i checked out the eighth kind of like r d discord channel uh and everything you know everything seems to have gone through really well so this as i said is the fifth main net shadow fork we i i don't i can't remember if we're gonna have like six before or after the robston test net merge or if we're even gonna do

a six i'm sure they will do another one um but i i haven't come across that yet probably i've just missed it i've been being a little bit busy today but yeah it's great to see this great to see that you know they just seem to be going through kind of like as they should right there's kind of like no major bugs or major issues it just seems like every time we do it now it's fine now obviously the big test is still going to be roxton on uh coming on june 8th there uh and if that goes all well and good we'll obviously move on to the other test nets and and then on on to mainnet right you guys know the story here and speaking of kind of like i guess main net uh and uh maintenance merge and dates around that there was a panel at permissionless i i

believe yesterday where preston van loon and uh kind of like justin drake are on the on the panel here i don't recognize the person on the far right so sorry to that person if i don't recognize them uh but justin drake basically said that uh the ethereum merge may happen as early as august now obviously uh daily gray listeners and watchers will know that i've been saying august for a few weeks now i think i've been putting like percentages on it uh based on kind of like you know what i'm following and things like that and the fun thing is uh you know david asked that justin he was in on this kind of like panel he was like you know has this been articulated anywhere else has anyone else said august and justin's like i think anthony's asano figured it out so ah maybe i did maybe i maybe maybe put get

pushed to september i still told you guys that i think there's like a chance it'll still get pushed to september depending on kind of like uh you know any kind of like bugs that push it back on on the test nets on the public test nets or anything like that but also we have that difficulty bomb to worry about so i feel like you know august is definitely what they all want uh to happen or all of them being kind of like the core devs and researchers but if the public test nets if there's any major bug on a public test net i think we could so major bug i mean like a critical bug right if there's any critical bug on a public test net then i'm pretty sure they would there the core devs would vote to delay the difficulty bomb which would then delay

the merge you know i couldn't even see it being delayed well not delay but like push back to is kind of like um as far back as october depending on kind of like what they do with the difficulty bomb because if we leave the difficulty bomb active until late september it would make the channel not unusable but like very congested very slow for more so than i guess like it is normally for like six weeks or something and that's a long time like i i argued the other day that two weeks was okay but six weeks starts getting into like really really long i mean six ways in crypto is an eternity right um and it depends like what the market's doing at that point like is the market hot again and and you know that would affect things so i think august like i i mean i

i'm if nothing goes wrong with the public test nets i'm i'm happy to put like a near 100 certainty on an august merge right maybe it happens on september 1st just to spite me i don't know but like i'm pretty confident and confident in august there but anyway enough about kind of like merge dates there's just one last thing on the merge here from trent van epps uh who kind of like shared there's a merge community called number four happening on friday june 3rd these calls go kind of is going to go over the test net upgrades client releases and info information for validators and infrastructure one thing that i wanted to remind you solo stake is out there so solo stake is being the people that are staking with 32 using their own hardware having their own validators if you are currently outsourcing your kind of execution layer

aka an eth1 node to a third party provider you're not going to be able to do that post merge so you're going to need to run your own execution layer client whether it be geth nethermind aragon or baysu um and and you need to be doing that you know at the kind of like time of the merge so probably best to get that synced up now you can do kind of like a snap sync or like a fast sync won't take too long and make sure you've got like the storage space for it of course and then just kind of like connect your beacon node to that kind of like uh local node because if you don't uh post merge i i i'm not i don't think it can lead to slashing or anything like that but i think it just makes it basically makes you

i actually don't know what it could lead to i'm not i don't want to say anything and be wrong about this but uh i i believe that it can lead to some negative things for you whether that be slashing or whether that be kind of like missing attestations or things like that i've got to check on that one but post merge you won't be able to use third party providers from from my understanding so you have to use your own local execution layer client uh so i just want i just wanted to kind of like put that heads up out there but if you want more information on that you can basically join this community call which i'm sure they're going to cover this on um or you can kind of like go i think to the ethereum website i think has some information about this as well but as i

said just run your i mean generally if you're if you're like a solo staker you should be running your own kind of like notes anyway i mean if you want that fully kind of like self-sovereign decentralized experience you should be running your own both you know consensus like clients and nodes and also your execution layer note as well all right so danny ryan put out the 35th finalized blog post today discussing the e-staker clr fund which i've talked about that's that kind of like public goods funding round uh and the data availability sam sampling rfp uh so i discussed that yesterday i believe on the refill as well so i'm not going to go through them again but i mean it's here this is this is kind of like just another quick update from uh from danny ryan here with some relevant links as well so definitely go check this out if

you haven't yet all right so sad z i don't know how to say that the the the name here z or z or something man you guys know that i am so terrible with pronoun pronouncing anything but anyway this person who who is the product manager for uh basu uh basically has shared a tweet today saying that uh the bonsai kind of like storage improvement upgrade is not experimental anymore which is le and what bonsai is is basically improving storage for things like um full nodes and archive nodes you can see here that the storage improvements on bonsai are pretty radical i mean you can see here the full archival node with bonsai is only taking up i think about

points uh just eyeing it here maybe like one 1.1 or 1.2 terabytes of space as opposed to a full archival uh normal kind of like i guess like node here called forest uh which takes up almost 12.5 terabytes so massive improvement here which is very very cool and you can try it now with basu so you can have a full archival node which is different to a full node i mean generally like no one really needs to run a full archival node in terms of like just everyday kind of like people but it's good for kind of like infrastructure providers and things like that and obviously making it easier to run a full like oval node is always beneficial so if you want to run one you can now do it a lot easier by using basu's kind of like bonsai upgrade which is really really cool to see

all right so i wanted to kind of like focus on this uh i guess tweet that uh vitalik put out preston van loon replied to and then uh aliyah t a tia kind of like put together a kind of like caption here but vitalik basically said the pry labs team honestly deserves a lot of praise for taking a year-long don't use prism campaign on the chin and not opposing or getting publicly upset by it anyway that battle is basically won now time to switch focus to getting more diversity and execution clients and vitalik's obviously talking about client diversity here and it's something that i've talked about a lot on the refuel before so you guys should know what that is by now and then preston van loon from prylabs kind of replied here and said thanks it wasn't easy to hear at first but it's

super important and the best for the ethereum network as a whole we're thrilled to see prism under 50 again uh and then ali says ethereans are built different i mean this is like i think i've explained this a bunch of times to to all of you but this is really the key of what keeps me in the ethereum ecosystem it's got nothing to do with i mean it's got some some stuff to do with the other things but like if it wasn't for this sort of stuff if it wasn't for the community if it wasn't for this sort of sort of ethos within ethereum i strongly believe that i wouldn't be involved with ethereum anymore um it doesn't matter how bullish i am on ether as an asset it doesn't matter how excited i am for things like layer twos or d5 or anything else built on ethereum

if it wasn't for like this community ethos that we have where literally one of the kind of like founders of prior labs who built prism has worked on prism it's basically you know a huge chunk of his life's work and basically going to probably be his legacy and the most impactful thing that he works on you know um not to sell him short but like you know a lot of the the ethereum core developers i i think are aware that this work is like probably the most impactful they go they're going to do in terms of kind of like uh the biggest change right you only get to do the merge once and you only get to do proof-of-stake on ethereum once right and then kind of like keeping that going and kind of adding all those other upgrades that's a legacy being built right there

the fact and so i think the fact that like preston is saying that they're happy to see prism under 50 dominance because it's good for the overall network is just such an embodiment of like ethereum values and kind of like ethereum like ethos and mission and whenever i see that it just reaffirms my kind of like commitment and beliefs in ethereum as an ecosystem i've argued heaps of times before that ethereum social layer is is very strong and that is what keeps ethereum such a cohesive ecosystem and allows us to do things like network upgrades right there is not really any contention around any of these network upgrades like eip1559 i think the only people that were against it um in like a big way were miners and that makes sense but i

talked about that back then and i basically ran through how miners don't really have any kind of like any like power or anything like that uh they kind of just go along with what the rest of the ecosystem um says uh then there's some there's been some divisive things again around miners like prog power but not really like all the upgrades uh the majority of the community is is behind right that road map that's been in place for a long time the majority of the community sees the value in it and kind of like says yes let's do this sort of thing and that includes obviously proof of stake dank sharding or sharing in general and things like that right the roll up centric roadmap and you know the list goes on from there right so i just think whenever i see kind of like exchanges

like this on twitter or anywhere else and i kind of like talk to people in the ethereum ecosystem i just come away feeling so inspired i think that's probably you know the right word to use there inspired and i think that that kind of like ethos and community attracts the you know the best people that this ecosystem has to offer at the end of the day and keeps them in the ethereum community ethereum has a lot of hard problems to work on for these people as well it's not like it's just a community thing there's a lot of like intellectually interesting things to kind of like focus on too so i don't know i just thought this was a great um kind of like tweet from ali that kind of highlighted the fact that ethereums really are built different not to say i guess that these people don't exist in

other ecosystems but i think ethereum definitely has a monopoly on it and has like the highest concentration of these sorts of people and obviously ethereum as an ecosystem is huge so it's more impactful uh whenever these people do anything right uh but yeah i just i thought that was awesome because i kind of like sometimes was weary about telling people to not use prism because i didn't want to kind of like on prism so to speak i didn't want to kind of like you know degrade pride labs as work but i think you know obviously pro labs completely understand that they're not just building to be a monopoly client they're building as part of kind of like they're building something that needs client diversity right ethereum values client diversity it's not just kind of like one one client and kind of like done thing and i don't think they would

have kind of like built uh a client for kind of the beacon chain if they believe if they thought that they were going to be the only one on there right and it's kind of like better and stronger together these teams work so well together i mean they've all had to work together like very closely especially around the merge right the merge wasn't gonna isn't gonna happen without these teams working very closely together to make sure all their software talks to each other it all works just you know just fine without critical bugs anything like that there has been sometimes there has been a little bit of kind of like bickering between the teams here and there you may have seen it before but i mean it's it's small kind of like things it's not not anything major and it's not anything that would kind of like tear anything apart either

um and you know i i kind of like mentioned the cohesion of cohesiveness of the community i think the other spec the other side of the spectrum there is bitcoin where i guess like the core bitcoin community seems to be cohesive around wanting to not change bitcoin right and anyone who kind of like wants to change anything in bitcoin uh is met with like fierce resistance and that's just kind of like the different size of the spectrum and i think that's what turns me off bitcoin a lot is that like i don't really care for something to stay the same and it's just so boring staying the same and you can't even build anything on it so yeah i don't uh anyway i don't want to on bitcoin but like that's kind of like the way i view these things all right so arbitrary announced

yesterday that arbitrary odyssey will officially be going live mid-june so you can kind of like uh uh kind of like oh there's no thread or link to the blog post i thought they linked the blog post here but there is a blog post somewhere describing what arbitrary odyssey is i've talked about it before basically i'm just scrolling down here trying to find it for you guys i don't think i can get it i get it right now but basically it's kind of like an um an nft themed event which you can kind of like get earning a taste for doing things on arbitram from if i remember correctly uh i don't know if this is going to be a requirement or kind of like one of the things that they look at for the airdrop but i'm sure a lot of you have already speculated on this and probably just

going to do it anyway it's probably worth doing anyway if you want to kind of like get you know airdrop farm uh i'm sure a lot of you already thought of this so it's probably preaching to the choir a little bit there but just generally i mean look albert from nitro is is coming soon as well arbitrary is already in a kind of like an awesome uh platform to use so i'm assuming a lot of you are already on there doing stuff on there and kind of having fun anyway so this is just another thing for you to do on they own some like cool nfts potentially this is kind of like one criteria they're going to look at for the for the eventual airdrop of the arbitrary token um and anything like that so i'm sure you guys are all over this already you you guys

are pretty plugged into this sort of stuff i always say it in the airdrop channel outside of mzy talking about how how much he hates the hop airdrop in that channel all the time you guys do definitely discuss this stuff so i i don't think i have to go into too much detail there but just wanted to kind of highlight that it's going live mid-june so definitely get ready for it all right so binance has got a massive announcement today uh for ethereum they've enabled layer 2 eth deposits for optimism so i don't think this is enabled just yet but they've kind of like added the functionality and they said they're going to enable it once their a kind of like wallet on optimism gets um gets full enough but uh yeah this is this is huge i mean binance is obviously the world's biggest exchange

right and them integrating more ethereum layer twos i mean they already have arbitrary and now they have optimism uh is is awesome right it's really really good it's really good for onboarding again coinbase where are you come on guys like don't let binance eat your lunch right uh dude come on let's do it let's do it i i think they'll come eventually coinbase as i've said before but yeah i just i mean by nate's already has optimism and arbitrary i'm sure they're going to integrate other layer twos and as i said before credit where it's true i mean i've been pretty harsh on binance in the past because they have a competing ecosystem in binance smart chain but they seem to just be supporting l2s as well so kudos to them for that and if you're a binance user you can go use it i mean as i said it's

not enabled just yet but it's going to be enabled soon and you can use binance to kind of like bridge in and out of of optimism now the one thing i will kind of like knock finance on i think from what i've noticed is that the fees of withdrawing are generally higher than they are to do it through layer one which is a bit silly i think sometimes they're just really slow to adjust their fees because obviously fees on ethereum fluctuate on layer one i think they're just sometimes really really um slow to adjust that but at the same time and what i really find puzzling is that if they've got like a layer two optimism wallet that they're crediting that eth to and it just sits on optimism but then they're not doing a layer one bridge right from layer one to layer two so

shouldn't it cost basically the the cost of a transfer on optimism so for example right now if i go to l2 fees dot info on my other screen here to send eth costs 17 cents so why i've seen finance in the past charge like multiple dollars like few dollars for arbitrary withdrawals like why are they doing that and it seems like price gouging uh look i'm you know they don't have to charge like the minimum right but they could charge a little bit on top because obviously they want to make money from this but like charge like a dollar if it's 17 cents like if you i mean obviously that's still like a huge profit margin but like don't charge like five or ten dollars like that just seems bizarre to me so i i think maybe because people are paying it i guess but i think it should

always be less than the layer one cost because then what's the point you may as well just go to layer one ethereum and bridge in from layer one ethereum to layer two for the same cost and you get better guarantees like that right i don't know i don't know binance is has been doing this not just for layer twos but for layer ones as well uh kind of like i think that they just make too much money from withdrawal fees so they'll probably just continue to do this right but still cool to see them integrating optimism here uh hopefully it's enabled soon all right so speaking of optimism uh they've kind of like put out a tweet thread today on a blog post or i guess like a dev post uh introducing optimism bedrock which they're calling the cheapest fastest and most advanced roll-up architecture ever now you can

read this twitter thread for a summary on this but bobby here uh has uh the head of product that optimism has a great uh kind of like tl dr basically uh optimism bedrock includes better compression which means cheaper transactions it separates consensus and execution which means it's ready for erp 4844 which is the proto-dunk sharding it has a teeny client diff which is easier for new clients better security plus ex extends the extensibility when zk they're already teasing zk stuff here guys it's pretty cool um and this will also make it easier for uh their kind of like client diversity to take off because as you guys know i think i mentioned it before optimism wants client diversity uh as well they don't just want to have like one optimism client they want to have multiple ones like we have at the ethereum layer one

and then uh better p2p networking so 50 times faster node sync closer to sequencer decentralization this is very exciting right guys like this is some huge upgrades here are coming with um with bedrock i mean i think in the twitter thread from memory they said that after bedrock goes live they're gonna be the cheapest roll up on ethereum which is a pretty bold claim to make but that's pretty cool right um and the funny thing is as i mentioned before arbitrary has nitro coming as well so both of the top optimistic roll-ups have uh massive upgrades coming very very soon um and i wouldn't be surprised to see bedrock and nitro go live within weeks of each other right just because of the fact that the competition is fierce right now between these two ecosystems and the funny thing is is that i think i would say that that i

mean arbitrary i think he's still a little bit ahead in terms of our ecosystem but also obviously tbl which i mean i don't really care for tbr too much these days but it's still there but in terms of kind of like optimism making a comeback because they started later they're definitely up there but optimism is going to beat arbitrary to the punch with regards to a token so that's going to change things as well and then i just wonder like how far away arbitram is from from from responding with a token then it just depends like i don't know i don't know what these teams are thinking you guys know that i'm investors in these t in these teams but um as as an angel investor i don't i don't ask for like any info i don't get any info like i i didn't know about the kind of like

optimism token till you guys did so same kind of like uh like thing there but i think um from kind of like that perspective it's going to be the l2 kind of a competition is really going to heat up here especially because these upgrades are so so massive obviously these teams want to make sure that people understand how big they are want more people using their networks want their networks growing blah blah blah like of course they do right uh and there is collaboration to be had here as well between the teams but i think that the fact that like at the end of the day like the optimism founders have been working on optimism since you know forever uh you know originally they were plasma group and they've been working on scaling ethereum forever arbitrary founders same thing right they've been working on it on

scaling ethereum forever i mean i'm pretty sure uh kind of like um the albatroom people were talking about uh but when they were off chain labs i should say we're talking about this sort of stuff in 2014 right so they've both been around for a long time of course they're going to want to grow their own ecosystems right like yes they're going to still contribute to the ecosystem at large but they're all kind of like in it to grow their own ecosystem as much as possible because that's their their kind of like life's work at this point right that's their legacy and they want to make sure that it grows and thrives which which i mean obviously we don't blame them for that right this is going to be cool but anyway if you want to read kind of like uh all the details about bedrock i mean you can read this

twitter thread here but also read the post i'll link both of these in the youtube description all right so gamestop nft i kind of like put out a teaser kind of like tweet today again uh for those of you who don't remember gamestop is doing nfts with both loop ring and immutable immutable xcr so basically they put out the kind of like an image that says what the internet did for communication blockchains do for value now global communities can connect coordinate and transact like never before public permissionless coverable neutral value layers power to the players i like this signaling from gamestop here like no matter what you think of nfts i like just people like gamestop you know a big company signaling uh stuff like public permissionless credibly neutral

value layers right like that's the that's the kind of stuff that um that we always talk about within crypto within kind of like ethereum is that permissionlessness that credibly neutral neutrality and like ethereum as a value layer uh you don't really see anyone outside of it saying that but for gamestop nft to say this and look at the engagement on this tweet right 15 000 likes it's really cool it kind of like implants those ideas into people's minds so when they hear them later it's it's less of a kind of like oh is this an alien terminology to me and more of like i've heard this before gamestop said this sort of thing right so i love seeing that that that that sort of stuff there i just kind of like i guess that's that's really it there but that that's like i wanted to talk about it because

of just that part of it but i mean i i don't know what the timeline looks like for gamestop nft or anything like that but i'm sure it's coming sooner rather than later as i said working with both loop ring and immutable x on this stuff all right finally here uh sandeep from polygon shared that unisof v3 on polygon is now doing 1.4 billion dollars of weekly volume this is huge guys like i've mentioned unisop v3's growth on polygon before and just how fast it kind of like i guess cannibalized all the other amms on polygon which i mean for better or worse right i always like seeing competition but unisof v3 is just so amazing and some of you may be wondering you know why hasn't anyone kind of like forked v3 that's because v3 has a license on it a business license

on it that basically says that unless you have the permission of uni swaps kind of like dow you aren't able to deploy v3 on a chain and you're not able to kind of like fork v3 either there was a lot of controversy around this at the time when they released this license but it seems to have worked as a defensive mechanism against other kind of like teams and ecosystems forking v3 like they did to v2 i'm not going to give a kind of like argument for against that right now but that's kind of like the logic behind it that's why i think v3 is able to cannibalize ecosystems is because v3 unit v3 is a magical piece of kind of like a a protocol guys like it really is and i wouldn't say it's kind of like peak amm design there's probably a few improvements that can be made to it to

make it even better i'm sure unisof v4 is going to come with those improvements um but v3 really is an amazing amm design so that's why they've been able to kind of like gather so much volume and it's just great to see the polygon pos chain ecosystem still kind of like um you know intact still kind of like growing here and hopefully some of that activity or at least most of that activity eventually migrates to the zk solutions that polygon has got coming out when they're released as well which i think they will it's much easier to get someone to move from the polygon kind of like pos chain to a zk than it would be for from from anywhere else right so cool to see this cool to see the growth from uni swap here on polygon um but i think on that note that's gonna be it

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 the newsletter join the discord channel and i'll catch you all tomorrow thanks everyone oh not tomorrow actually next week it's friday right yeah catch you all next week thanks everyone