SUAVE updates, Coinbase supports Optimism and more - The Daily Gwei Refuel #494 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of The Daily way review wake up the latest news in ethereum ecosystem I'm your host Anthony sassano and since the 24th of November 2022. right everyone let's get into it so I want to get through today so I'm going to be running through each item uh rather quickly uh I'm not gonna I'm gonna try not to ramble on about it but to start us off uh we had an announcement today from a consensus or at least consensus changed their privacy policy to announce that uh when you use infuria as your default RPC provider in metamask inferior will collect your IP address and your ethereum wallet addressed when you send a transaction now just a quick background here for those who don't know when you are using metamask as a wallet you are using a third-party RPC by default and that is inferior which is

owned by consensus and consensus also owns metamask as well for those who don't know now you can change your RPC now to something else uh and you you do change your RPC as well when you go on other evm networks whether they be layer 2 side chains or other layer ones but for ethereum mainnet it's default to inferior and then you can manually change it yourself if you go in there and obviously most people most people don't manually change it because it's just not something people do it's not something they think about and you can also change it to use your own your own full notes you can change this to another third-party node or your own full node to relay your transactions to the ethereum network now this is obviously not great from inferior uh and I linked here an alternative list of Alternatives you can go to at

ethereumnodes.com to check out but I hope inferior reverses this decision because it doesn't really make sense for them to be collecting IP addresses and connecting those to wallet addresses other than maybe for some I don't know weird regulatory kyc AML stuff um but even in that scenario I don't know it seems it seems kind of unlikely and Dan Finlay actually from metamask put out a tweet saying I think we can get this fixed soon we are not using IP addresses even if they are being temporarily stored which they don't need to be and we're not using them for anything as we're not using them for any anything so as I said like they're not actually using them so what's the point of collecting it now maybe Dan isn't uh privy to what they're using it for when they are using it for something they

being inferior then is that metamask not adding fura but I don't know I'm not sure I'm just speculating here on on my behalf on this one but yeah just not great to see as I said like you can use an alternative uh RPC uh right now at ethereumnodes.com some of them will have the same privacy policies or similar privacy policies if I go to the website I could already point out that uh Alchemy probably has a similar policy to inferior uh flashbots I'm not sure what their policy is and there's I mean there's heaps here right and this isn't all of them either uh there was some uh there was another one that was mentioned in the Discord today that I forget the name of but uh you can check out their website check out their privacy policies if you want to see what they're what

they're doing but also you could just run your own full node and if you are running your own full node you can just connect that as your RPC and there's um guys to do that online if you if you need that but that is the best way to do it because then you don't have to worry about any of that stuff like you're fully you're basically a fully Sovereign ethereum user when when you are using your own full node to your process and relay your transaction to relay your transactions to to the network so yeah you can do that but uh yeah I'm hoping to see this decision reversed but if not I mean it goes back to what I say about centralized uh I guess um infrastructure and centralized things in general in crypto if you're using something centralized just assume that it's doing

stuff that you wouldn't probably agree with such as collecting your information or censoring certain things and just expect that from centralized uh tools because that's that that's basically what they're going to do for one reason or another and I don't think we should be expecting anything else uh now how do we address this well in various different ways obviously building better decentralized tools is the is the sure-fire way to address it but that takes time but it's been funny seeing all these things come out and all these centralized points be attacked and all this stuff come to the surface and then decentralized Alternatives pop up I think the ecosystem in general is going to be much better off over the next few years than it would have been without decentralized points uh kind of ruining their ugly head because we need to see them in practice before people actually

believe that it can happen and then we can work on fixing them all right so someone I might have told you that speaking chain Beacon chain withdrawals aren't coming anytime soon well they're wrong because Mario's from the death team shared out that there's now a multi-client withdrawal devnet with a lodestar teku lighthouse never mind and gethia so prisms should also work but they had a config issue and then he followed up saying prism now updated and happily following the canonical chain withdrawals are coming guys there's so much fun right now and I've talked about this fight before but withdrawals are coming in Shanghai uh that is is pretty much certain at this point and as I said before my estimation of Shanghai is H1 uh or the first half of uh of next year hopefully we can get

it in uh you know in Q2 I don't think it's gonna happen in q1 but Q2 seems Seems more likely there uh but yeah I just wanted to highlight this because I know even people that I've spoken to about this directly before they're still like you know where are withdrawals like all these people are saying that withdrawals have been canceled why did the ethereum foundation take uh or why did the ethereum.org website take away the estimated date for withdrawals and it's like well because they shouldn't have put that there to begin with because there was no estimated date given out by the court of alpers like I've given my own estimates but like that's just me like I keep saying to everyone don't quote me on things right I just give my estimates based on what I'm seeing and I and I think that the reason why I call Debs

wait to give an actual date or give him even a window uh is to make sure that we can actually hit that Target and to prevent people from saying stuff like oh I got delayed it got delayed like what we saw happen with the merch right so I think this time around they're definitely sticking to their guns of we'll keep building your stuff we'll get you know we'll we'll send signals about where we are in the I guess our development pipeline but they're not going to give any kind of time Windows until they're relatively short of it so I think that's a better approach anyway all right so a bit of drama over the last 24 hours in the ethereum client land specifically on the execution layer client so uh akola has announced that they are winding down the project so

akola is an ethereum client ethereum makes cushion client written in Rust uh and one the lead Dev his name is artem I he shared a thread which I don't have handy right now if you go to his profile you can see uh there's two yeah there's a there's a thread with screenshots of his conversations with uh Georgios from Paradigm which I'll I'll talk about the context of that in a sec but also his announcement saying you know he goes sadly we cannot I'll compete multi-billion dollar VCS who copy paste their architecture and code uh akola is winding down and I'll be taking a break from ethereum core development for the foreseeable future so item is obviously frustrated that uh about what's on Paradigm where which is where Giorgio's Works has been building which is what

JoJo has announced today which is called wrath which is a rust ethereum execution layer client very similar to to akula now the reason why Adam is frustrated is because Joy Joyce was asking him a lot of questions about akola and how it does things and and obviously that was to um to you know get information on on things to apply them to uh wrath here right now I'm not going to make any comments on whether this is fair or not fair I'm not going to make any comments on anyone's personality CL and why they may or may not have wanted to work with each other I've been talking about it in the Discord a little bit but I don't want to I spend too much on it too much time on it I felt it was worth mentioning because I think what we've done is

basically a swap here we've gone from akula to to wrath and they're both are built using rust but they're very different teams now I don't think look look I have some opinions on the the building of clients themselves and I've given a lot of these before but I think that a cooler could have still built out their client and it would have just been up to the I guess free market to adopt the one that they actually really wanted to use now would they adopt a cooler over wrath who knows right and maybe they would maybe they they wouldn't have because the fact that Paradigm has a really big reach of really big brand uh Paradigm has an in-house team whereas a cooler is definitely not uh I guess like an in-house team it's more of a a ragtag

group of developers coming together to build something so you know if you can look at it from an objective stance you would assume that wrath would probably be the uh better more sustainable client simply because they have a an in-house team to do these sorts of things that have the funding as well so Adam's point I guess stands true there is like obviously a cooler on that front can't compete with a well-funded team like that but I don't think that should be reason to shut down the project you've been working on um and and kind of uh leave it core development all together uh because if we if that was the case for every core developer I mean there are plenty of client uh core clients out there right now that have very little market share uh on on the network but they're still being developed they're still being

built and they definitely don't have billion dollar funds backing them they're a lot of them actually rely on on on grants from the ethereum foundation and and and things like Bitcoin donations and rate and getting money from from other from doing work with other projects uh they're not massive teams that have been funded by billion dollar VC so I just thought that was a that was a bit weird there but that's the drama surrounding that as I said I don't want to go into too much detail here because there's uh controversial opinions on all sides of the aisle uh but what I will do is uh talk about what Paradigm is building and what George's announced today which is ref and and JoJo starts off by saying reth is not a fork or a rewire a rewrite of any other client implementation he announced this after our Tim's tweets it

is a new Apache MIT licensed full node implement temptation of ethereum focused on contributor friendliness modularity and performance and then he goes on and says ref does not include any code from any existing client but stands on the shoulders of giants including Geth Aragon and akola we sponsored the project in the interest of client diversity so we are very sorry to see any other project seizing development it is a loss for the space and then he goes on to describe exactly what ref is I think this is really cool um I think that more clients on the execution layer side is always a welcome thing and more clients that people are actually going to use as well now there's a million different reasons why people use one client over another but I think I mean you come up with a million

different reasons probably not literally a million but many different reasons but I think the core of it is stability and reliability especially in a post-merge world where if your execution line client goes offline or has a bug in it or stops syncing it affects your rewards as a as a validator right so from that point of view the most important thing I would say is reliability stability and security for an execution layer and I guess for a consensus layer client as well now that's what I guess uh Paradigm is trying to do with refia and if I had to back well or a back a horse I would definitely back Paradigm on this they've built some of the the best open source software in the ecosystem today I mean flashbot is um it works very closely with Paradigm then they build all that

out they've built uh a Foundry which is a development framework they've built a lot of great things and I know sometimes people give them a bad rap because they are a VC firm so to speak and they do make investments and things and they invested in FTX obviously obviously that's a bit of a black mark on them there but I think that because they're doing a hybrid approach of being a VC but also being a research and development shop uh for bleeding edge things you have to separate the two and I would say that a lot of the people who work in research and development probably aren't interested in the VC side of things very much at all right but there interested in working with the portfolio companies that Paradigm has such as uni swap obviously Paradigm and Unison work very closely together and now working on and they also released

their consensus layer like client here called Helios um no sorry that was from a16z so yeah I was getting confused today a16z is another another fund that does similar things to Paradigm but um and as I said Paradigm released a Foundry uh now doing this execution layer client so they're adding a lot of value to this space and when you really think about it the only way they're able to do this is they hire the best people but the only way they're able to afford those best people is from their VC investment returns without those returns they wouldn't have any money to splurge on uh you know they're the best of the best and we wouldn't get this awesome software open source software that we've been getting so I I'm great I'm um I'm really happy to see this uh coming out here I'm sad to see a

cooler go because I was actually looking forward to seeing how that would pan out but I mean one goes one comes into it it doesn't mean that someone else couldn't take their cooler code base and start working on it again maybe Autumn comes back I don't know you know sometimes people can be a bit emotional in the moment and then come back after after clearing their head and being like you know what I I was I jumped the gun maybe I should just stick to this so hopefully uh he does and his team uh that was working with him does as well but for now we've got wrath to look forward to on the new execution layer client front all right so speaking of ethereum core development uh Liam from the uh op Labs team today said ethereum core devs have a call coming up this Thursday to

discuss getting Erp 4844 to be considered for inclusion now this is that call that I've been talking about how we had kind of a deadline at the end of November that cordebs gave themselves to see if we could fit 4844 into Shanghai and then Liam continues saying this is a huge moment for the many teams that have been working on getting the EIP to production this year here is why I think it's time for uh CFI or considered for inclusion and then he gives a thread a little thread here about that with a tldr on why it should be included it's built on withdrawals uh the spec has is done after nine plus months of iteration interoperability repo with stress tests uh kcg ceremony spec done with working front ends kcg Library support for these different

languages and devnet V3 will support six out of the nine majority clients and then he explains each piece and I'll link this through the YouTube description for you to check out but basically what does considered for inclusion mean I mean it's pretty self-explanatory but considered for inclusion I I want to make a delineation here considered for inclusion does not mean that it's going to be included in Shanghai right in the next upgrade maybe it gets it gets included in the next one but consider for inclusion right now is like okay can we realistically get this into Shanghai in the timeline that we want to deliver Shanghai obviously we want to deliver it as soon as possible because Shanghai uh brings with it with Beacon chain withdrawals which are which are pretty critical right now but if supporting 4844 would push that out to

Q3 or even Q4 and then it becomes an issue of you know we don't think we should green light uh 4844 for inclusion in Shanghai just because of timing let's push that out to the next uh next upgrade and the next upgrade might not be until the end of next year early 2024 so that's why people have been working so hard on 4844 is because they really want it included in Shanghai so this is going to be discussed on uh tomorrow's call today's call I believe and we'll see what the answers are there I don't know it could go either way right now I don't have a really good pulse on it and and on um on where it stands stands right now but I do know the amount of work that's gone into 48 44 so far but it just depends on how the

core devs feel about timing I believe but anyway you can read this thread from Liam I'll link it in the YouTube description below all right so an update here or a little a note here from Jasper as part of the rockapole community here I highlighted this for me in the Discord Channel today uh this little tweet that he pulled out about the premium for our eth uh now is now nearly three percent which means that the new rocket pool validators kicking it an immediate 0.4-20.5 eth uh and read this straight before you stake anything you don't want to miss out and he says we are seeing tons of nerd operators not use rocket ARB and lose out uh and then you can read uh the thread that he linked here but basically I just wanted to highlight this for you guys that basically now is

a perfect time to be spinning up your own kind of rocketpool mini pool here and being part of the rocker pool network if you have the requirements to do so obviously uh and as I said you can read this thread from Jasper here to get a a full breakdown of what that entails I'll link that in the YouTube description below for you all right so binance has uh I I should have talked about this at the start but I'll talk about it now anyway look I spoke about this the other day how binance was uh raising money for an Industry Recovery Fund well it's put out some numbers today saying that they're targeting a one billion dollar raise uh to basically invest into different projects within the ecosystem that need help and now I wonder if all that whole

billion dollars is going to go into private deals or they're going to be buying tokens on the open market are they going to be buying Ethan BTC with it I think it's more on the side of they want to help or they want to invest in projects that they think are very good projects but they're either strapped for cash or need you know need I want to raise again and binance wants to be part of that um so yeah I think this is really cool because it it not only like uh sorry it not only helps on the financial side of things but it sends a very strong social signal from CZ and binance that they're willing to keep you know putting money into this ecosystem to keep growing this ecosystem and to keep helping it uh come back from I guess like all the blobs that we've had

this year and I think that's a very important and Powerful social signal to put out into the non-crypto world because without that signal um I think that I mean I I always think that eventually people come back to crypto anyway it doesn't matter how burnt they get um but I think without that signal what you end up having having is all the bad stuff just keep dominating the headlines so with this signal you start to I guess uh strike a balance here where there's a lot of bad stuff but then there's a glimmer of of Hope yeah and a glimmer of positive stuff and then that builds up over time until you really only hear about the positive stuff in mainstream media again and that is one of those things that leads to the next cycle and it's pretty funny how it plays out you

basically have this balance act where it goes all the way to one side of the scale in being negative news and then slowly over time it'll go to the positive side and then the positive side will become too heavy and then it'll have to swing back and it usually follows the market of course like the Market's going up then obviously the mainstream media is reporting on that they're reporting on all the growth that's happening all the the crazy amounts of money people are making and sounds very positive it sounds like a whole party's going on and then when inevitably the party ends you just hear negativity oh everything's going down this crash you know this blew up uh how is crypto ever going to recover crypto is actually dead this time it's just two opposite ends of the spectrum really but I think we pretty much hit the bottom or

I guess like hit the the extreme side of the negative Spectrum over the last few weeks and now we're on the up and up again I think and it's going to take a while it doesn't happen overnight obviously I would go this far as to say that if even for the next six to 12 months we would probably be in this this lull and this I guess like if you're talking from a market perspective probably in like a sideways movement but in general there's going to be a lot of building happening during this time that's going to pay a lot of dividends in the bull market or in the next bull market that we see but I also think that over time there's diminishing returns to those Cycles on adoption I I've showed you guys how layer twos are still getting a lot of adoption obviously we

have other big organizations getting involved with crypto still polygons doing a lot of BD work there so I think over time the market conditions matter less and less the more uh non-financial applications we get as well and the more people we just get into this ecosystem generally and that's a healthy thing I don't think that we should just rely on these I don't know three to four year cycles that play out in crypto uh forever because that's just not very healthy at all and I actually don't think that those Cycles are going to uh be playing out for very much longer anyway I think we may have be done with the four-year cycle to be honest and that that four-year like Bitcoin harvesting cycle because Bitcoin has become very irrelevant to crypto more generally it really is ethereum as the flag bearer of what we're building

whether that be D5 nfts web 3 uh and the rest is kind of following that whereas Bitcoin is in this weird Niche place that I mean it's always been there but it's it's really tucked itself in there and it definitely seems like it it it's not the flag bearer of this ecosystem anymore I mean people can disagree with that that's fine but that's how I feel about things and I think that means that that Meme of the Bitcoin Harmony leading to uh Cycles playing out I don't think that's going to persist going forward but anyway cool to see see uh binance raising a billion dollar fund for an Industry Recovery I think it's uh obviously a positive but you know obviously a positive for binance as well they want to get some good companies on the cheap they want to fund them on uh when they're cheap right that's that's

what every VC and fun wants to do uh but as I said it sends positive social signals out into the wild all right so a big announcement well I guess a big update out of flashbots today which is a Blog a blog post on the future of Mev uh which uh they're calling Suave so I've talked about Suave before and I said that there wasn't much details on that when I talked about it last time but now we have a lot more details on it and there's a tldr here of these details but you can read the blog post I'll link in the YouTube description below I'm not going to read out the whole thing but what I wanted to highlight is exactly what Suave is well Suave is actually and this kind of called me off guard Suave is a new layer

one blockchain now okay it's not a layer one blockchain in the sense of it's not competing with ethereum it's not a smart contract chain they're building a new chain to basically be a a sequencing chain for all other chains you can see the little diagram here that they think that all sequencing AKA like block building is going to be done through the Suave Network through the Suave blockchain and then passed on to these other chains here as you can see right ethereum arbitrary optimism polygon stock net and every other uh kind of chain that it does this for now uh the the first thought I had when I saw that there that they said they were going to build a new layer one was is there going to be a token for Suave and I've said before that I think that eventually Suave will probably have a token but uh

there is a q a that Bert did here in uh on on Twitter that you can go see and someone asked when token he says no plans at the moment eighth is the Suave chain token well he said at the moment so I don't know you know how much you want to read into that of course right uh but I think that look I I I I think it's more likely than not that Suave has a token but if eath can be the token for the Suave chain kind of like what eigenlayer is doing with restaking of um of eth I think that'd be really cool I think that would be really cool for a number of different reasons one it that chain immediately inherits uh the uh decentralized the decentralized holder base of a person asset automatically inherits the massive security that eth

has and staked eth as well and obviously gets the ethereum community much more on board and much more aligned with this but I think this is an interesting approach and it seems like they've put a lot of uh research and development into this and this is what the this is the conclusion that they've come to in order to make it so that the Mev ecosystem is as resilient as as possible or I guess like the ethereum blockchain other blockchains are as resilient as possible to Mev generally and you may be wondering you know is this obsolete in an Mev boost and um sorry in a PBS and CR this world I don't believe so I think that PBS and NCR lists are really cool and and will work really well but the thing is is that swab isn't just built

for ethereum main that it's also built for layer twos and I'm not sure if layer twos are going to be able to use uh PBS or they're going to have to rely on something like swap if they want to make sure that their chain isn't just basically uh uh uh get taken over by Mev I think they will have to rely on something like like Suave so that's why I think that Suave not being controlled by any token except Ethan you know not having any token in there except Eve would be very very positive but I highly recommend reading the blog post because it gives a lot more details there's even a road map and first steps as well that they've put here so their roadmap is split into three sections uh Centauri Andromeda and Helios are which you can rate in this and this little um notes

Here of what each roadmap item entails but this is cool as I said I think that if they stick to using eth within that new layer 1 chain it'll be fine but if they go the route of issuing their new token you know creating this new layer one chain and then this chain ends up getting its own community and that Community starts saying well why can't we build something that competes with ethereum right like that can happen but they were very clear like Robert was very clear and I think the blog post is pretty clear that they don't want this to compete at all with ethereum and then they're going to be putting zero effort in competing with ethereum and I think that really is um uh I think I can trust them when they say that obviously there's been other layer ones that have

said this before they go we're not competing with ethereum and then you're like okay yeah yeah yeah but if you know this layer one is literally just being built to handle sequencing and and deal with Mev and and isn't being built to be like a smart contract chain and it doesn't have its own token it has eth instead I I think you can actually believe what they're saying in that case but yeah as I said read the blog Pros check out Bert's q a here because he actually answered a fair few questions they're being pretty open with this which I really love I mean I've given flashbots a lot of grief from the past but I think that they at the end of the day they're good actors yes they run a censoring relay up but as I've said before I think that they think that by

running that censoring relayer and keeping it running they're doing more good in the long run than harm right now and they have their own reasons for that and I I've talked about it before I don't want to go too much into it because I'm running I'm running out of time here uh but uh but yeah anyway go check out these resources I'll link it in the YouTube description below all right so I put out a tweet just before where I said want to create the perfect USD stablecoin that's easy just hit all three of these criteria be decentralized which means only use truly decentralized collateral like eth be scalable to trillions of dollars in market cap and be stable keep the peg 99.9 of the time ha turns out it isn't easy right and I've talked about this before on the refill this kind of

trilemma of stable coins and how I believe that we're actually never going to be able to get a USD or any Fiat uh Peg stablecoin to hit all three of these criteria I I truly believe that we won't get there and is that a bad thing I actually don't think so at all I think it's fine that we have these um regulated centralized stable coins within crypto I think that that within and within D5 I don't think it's as big as a deal as other people do do they represent systemic risks yes but so does a lot of other things can we fix it we can try but it's very very difficult so if you can't fix it what is the solution here well I've said before that once solution is basically just using like eighth the and other decentralized

assets on ethereum as the de facto money really it's just eth right now so using IF as money and and getting eighth to a point where it's relatively stable and creating an economy around eth would be the solution here obviously that's not an easy solution but it is one solution and I've talked about stability before and how stability is just it's a very funny concept because if you think about stability from uh I guess like an eighth perspective one ethic was one eighth I know that's supposed to be a mean but that's what it is right one eighth equals one eighth with it when it comes to US Dollars one US dollar equals one at US dollar okay so let's start measuring the US dollar stability against a against bread right against against bread from a grocery store let's say uh uh a loaf of bread is

like five dollars right um and then let's say in a year's time that loaf of bread is six dollars well hang on a second the loaf of bread is now not stable to the US dollar it's actually uh unstable or you could say the USD isn't stable to that loaf of bread right so and and I think when you start looking at it like that you start thinking like that nothing is really stable right like it it I think it's like a it's like it's like it's almost misleading to call these things stable because and I think it's due to inflation it's due to you know um free-floating prices of things obviously USD is the world Reserve currency so everything is priced against it but if you start pricing things against other assets you basically land

in the same position as you do with us US Dollars now obviously other assets are more volatile relative to the items that you're purchasing right and because uh something like if is measured against USD well and then because of the things that you want to buy with ether's money are measured against USD well that's where it becomes uh I guess a lot more volatile but if you look at something that is almost exclusively priced in eth the nft ecosystem it actually is very different in how prices are kind of um sway people measure their measure measure their um I guess nfts in eighth denominator terms so basically they say okay well I'll buy this at least um nft for one eighth and then if I make then I

want to make you know a few eighth out of this maybe if I sell it for 3 8 I've made a two eighth profit but what if goes down in that time such that even if you made three eighth it would be worth less in US Dollars than it would then it would have just holding the one eighth and not um uh not disposing of that to begin with oh wait no I'm getting confused there uh but just oh you know that it will be less than the one eighth you originally had so it would have been better off just saying that if for USD well that's not what people care about of what I've seen in the nft ecosystem they just care about using ether's money and pricing everything in Ethan nominating everything you need so once you start the nominating things and you

create an economy around a certain asset and that asset becomes a reserve of that economy then that actually becomes stable when you really think about it because it's stable to the things that you're purchasing so let me frame this another way just before I move on here if the reserve currency of the US was if right well then eth would be where in the USD spot and then everything will get measured against Ethan priced against eth and then that would be the free-floating uh um I guess uh market rate for all these different items so when you start thinking about thinking about it like that it gets really it gets really it's a bit of a brain teaser right when you start thinking about thinking of it like that but I think that's the only solution into this problem because Fiat pegged stable coins

are never going to be able to fit all of these three criteria for various different reasons but I've talked about it before I'm not going to go too much into it well I'm going way over time here I'm already at 30 minutes and I've got plenty of updates left to go I'm gonna quickly get through them all uh so ingonyama has an update today uh they basically introduced something called sparkworks which is native Hardware acceleration in Arc works you can read their blog post for full details here the three thread that they've got is is very short but basically they show uh the the improvements that they've made their results are a two-time speed improvements uh but I want you guys to read the blog post because that's going to explain more I'm not going to bother trying to simplify it for you but you

can go read the blog post I'll link it in the YouTube description um there was a bit of fud recently around uh uni swap labs's front end so the official I guess like unisop front end collecting user information Hayden Adams from Unison put out a tweet today saying if people read our own blog posts instead of angry Twitter threads they would realize the unisop web app both does not track IPS and actually prevents your IP address from being tracked by third-party apis like infuri and trm using a proxy server that's really cool that that's actually really really cool that they are using a reverse proxy uh sorry using a um a proxy server to prevent you from getting tracked by Third parties like inferior and as I mentioned at the start of the refuel

inferior is doing that so very very cool to see this don't believe the fight on Twitter I guess that's a rule of thumb right always go to the source and read the blog posts um but yeah cool for Hayden to highlight this uh next up was something I came across that's uh built on the optimism Network which is called words three which is an Unchained PVP word game on the optimism Network in the game you place letters on a grid to spell words each letter has a fluctuating price make eth by scoring points and when others use your letters you have six days to play and the website is words three dot XYZ there's a tldr from um a tweet here from pill head or an expand like I'm five on words so it's an on-chain infinite Scrabble on optimism each letter costs eth the cost

changes based on its popularity all eth goes into a prize pool the more points you earn the more eth you get you also get eight when people build off of your words this is really cool actually like if you go check out the game for yourself which you can um go by going to the website uh this is a really cool use of both the cheap fees on optimism and the gamification with real world value attached to it on uh you know on on blockchains generally and I went on there and I looked at it I'm like wow someone could really get into this who was really good at Scrabble and they could make a lot of money on this because it's it kind of like talks to the Degen nature in a different way like obviously there's different ways to express people's degeneracy whether that

be uh you know aping different nfts or doing degenerate yield farming right um but this is just another way of basically doing degenerate gambling through games so to speak and because this is a form of gambling right um it's it's a soft form of gambling it's not it's not really a form of gambling because I think that uh what you're doing here is you're talking to that part of your brain that says wow I can win a lot of money here if I you know just do this thing where I I play the Scrabble game and I and I I play better than others and I can win these this prize pool and that prize pool can grow pretty big there were these actually really popular Ponzi games in I believe 2018 and 2019 where essentially you'd have to keep filling the pool with

uh with eth and then uh and then if for 24 hours went without another person filling the pool with eth the last person who filled it I believe got the entire pool and it actually got really really big and I think there was some MAV MAV trickery done by people as it got closer to the um to the the countdown timer because it was done on a per block basis where they tried to fill blocks with enough transactions to stop people from getting their own transaction in to reset the timer so yeah it's kind of fun when you think about it you should look it up it was called fomo 3D so if you want to look it up you can do that um it's on it's on uh you can just look it up on Google there uh but yeah moving on from that one I

felt too high at this the other day but rainbow has a wait list open for their uh extension so they're building a browser extension for their rainbow wallet and they're taking on metamask they explicitly call out by saying it's almost time to replace metamask so if you're interested in a new browser extension uh to use with ethereum well go join the rainbow wait list you can find the link in the YouTube description below uh slingshot has released ethereum mainnet support in their slingshot while finally I mean this is awesome they obviously I've been on a bunch of different networks like polygon POS chain arbitrary and optimism well now they're live on the good old ethereum mainnet so if you are a slingshot wallet user you can go check out the mainnet support on your wallet app on your phone

uh and you can go do that today all right speaking of uh optimism as I spoke about just before optimism transfers are now live on coinbase so you can now transfer uh tokens and eth I believe from coinbase I think this is the coinbase wallet app it may it may be the exchange as well but you can now transfer them directly to optimism and not just ethereum mainnet that's awesome I mean I talked about this a lot in the past how we need this obviously uh binance was actually a first movie here which was surprising for me but now coinbase is supporting it uh which is amazing to see I'm sure arbitrim is coming soon uh they'll be Comics is obviously going to support all the layer twos but this is definitely what we need

to allow people to often on board uh directly from a centralized exchange to these layer twos all right uh last up here and I'm going to spend a few minutes on this I know this episode's gone over time but uh so what right uh last up here is a tweet reply that I put out tweeting to Orion uh so Ryan uh Ryan Adams from uh bankless he said if you didn't make it this time make sure you make it next time crypto's not dead and then I replied by saying I didn't make it in 2013 2014. I didn't make it in 2017 2018 but I made it in 2020 2021 my overnight success was seven to eight years in the making this is a very it's a very personal anecdote here but I wanted to mention the a couple of times over those seven to eight years where I made I

guess two critical decisions that led me to making it and making it I defined in my reply to someone here where I said being financially independent enough to be time Rich so that I can focus on the things I love doing and turns out the things I love doing is still crypto stuff but that's still ethereum stuff right but anyway so those two things were after the 2013 to 2014 uh cycle I actually left uh the crypto ecosystem and then I didn't come back until 2017 and and 2018 right or 2017. so that means I missed early if and I bought my first eighth at ten dollars but I didn't get to buy much because I bought it just before the price started going up and I really didn't have much money back then so I then bought a bunch more ether like 40 or 50 dollars and then back up at 100

but I didn't really have much eth and then I wrote the 2017 wave up and I and I didn't really make much money uh at that point I didn't I didn't cash out anything but even paper wealth I didn't make much because I didn't have much to put in to begin with so when I looked at that and then I looked and then 2018 happened again and then the bear Market hit I was like wait the bear Market's hit again but I know what happened last time that I left this ecosystem I kind of screwed myself and also on top of that ethereum is just much more interesting than Bitcoin was when the bear Market hit in 2014. so you know what I'm gonna stick around this time and the and the major reason why I stuck around was because of that lesson that I

learned from 2013-2014 cycle where I left and I missed all this opportunity and I missed ethereum so I said you know what it I'm going to stick around this time um not for not even just for for making money reasons but also for the tech side of things I'm gonna see what this takes me and of course that was the best decision of my of my life because I got to see all the really cool stuff with ethereum uh uh get developed and go live not just on the app layer but on the protocol layer and obviously that led me to investing a lot more during that uh that bear market and then led me to to where I am today so that was the the first critical decision um there basically deciding to stick around that second time but that was only possible because of my first cycle

right the second critical decision that I made was that I said to myself I want to be someone in the ecosystem I don't just want to be a low car or a reply guy I don't just want to put money in and hope for the best I actually want to contribute I actually want to become a a one of the leading ethereum people uh you know sorry leading people in ethereum I didn't expect it to get to this point where I am today and I'm very proud of where I am today of course but um I made that decision those are the two decisions that I made so stick around but not to just stick around and put money in and hope for the best but to also invest in myself and invest in growing myself and invest testing growing my relationships and network to

do everything that I do today so the point of why I'm telling you this is because you may be a first cycle and this may be your first bear Market don't go anywhere guys please please stick around put effort in you know invest in things that you believe in and you think are going to go somewhere but whatever you do don't leave like because you're going to regret it if you actually care about the technology as well right not just making money you're going to double regret it learn from my mistakes so to speak but that doesn't guarantee that you're going to be financially independent next cycle you can make a lot of mistakes between here and the top of the next cycle uh like so there are no guarantees here and I I strongly believe that you can't actually teach investing people have to learn it

themselves I don't think that anyone can teach it to you because of the fact is that if you don't learn it yourself then you don't learn uh how to control your emotions don't learn from your own experiences your own mistakes and you're just trying to defer that to other people and those people have very different experiences to you so it doesn't really map one to one um but yeah hopefully that gives you guys some more text around my journey but I've gone way over time so I'm going to end it there for today so thank everyone for listening and watching be sure to subscribe to the channel if you haven't yet give that video a thumbs up subscribe to newsletter join the Discord Channel and I'll catch you all tomorrow thanks everyone