Week in Ethereum News August 3, 2024

Eth News and Links

Ethereum ninth anniversary of mainnet launch & Underhanded Solidity contest 

All core devs

• All Core Devs – Execution (ACDE) #193:
  
  • Pectra (Prague + Electra) upgrade:
    
    • Pectra-devnet-2: same spec as devnet-1 (broken by EIP7702 testing), a few client issues found so far, won’t test EIP7702
    • EIP7702: latest spec will be included in pectra-devnet-3
    • EOF: working on fuzzing & writing tests before adding to a devnet
    • EIP6110 request objects encoding: hold off on changing from JSON to SSZ
    • Engine API engine_getBlobsV1 (CLs get blobs from EL): general support, decide at next ACDC
    • RIP7212 secp256r1 precompile on L1: review inclusion in a few months, champions need to help improve testing
  • Quantum resistance: need overall plan for Verkle, blobs & account abstraction, continue discussion on cryptography channel in Eth R&D Discord
  • Verkle:
    
    • Trie alternatives: discuss on Verkle implementers call, could swap out Verkle
    • EIP7736 leaf-level state expiry proposal, slows state growth, could enable in upgrade after Verkle
  • EIP4444
    
    • Torrent prototype added EIP7463 proofs

Pectra (Prague + Electra) upgrade, likely targeting Q1 2025

• Future of EOA/AA breakout #6:
  
  • EIP7702 (execution abstraction for EOAs) converging on final spec for Pectra, won’t include migration to contract wallets, additional features would need separate EIPs

Osaka + F starname upgrade

• Verkle implementers call #22:
  
  • Witness size could be reduced by 50%, fixes to EIP7612 & EIP-6800 and EIP7748 created for state migration from Merkle Patricia Tree to Verkle

Centralization watch: threatening the value of your ETH

• Lido at 28.8%, still too close to 33.3% threshold
• Client diversity (via clientdiversity.org):
  
  • Execution layer: Geth ~55% majority 
  • Consensus layer: Prysm 35%
  • Any client bug over 33.3% could mean loss of finality
• Better geographic diversity is optimal, particularly outside of North America & Europe

Layer 1

• Geth state history databases overview: ethdb, triedb, hashdb, pathdb & statedb  
• Builder playground: locally test a builder with MEV-Boost-Relay, Lighthouse & Reth
• Terence: Inclusion list timing constraints, no perfect design due to trade offs within a slot
• EIP7732 ePBS breakout #6:
  
  • No spec changes, Prysm implementation in progress with Lodestar starting & discussion on slot auctions

Research

• Restaking risks framework, quantify conditions that validators can be reused across multiple services

Client Releases

• Consensus layer:
  
  • Nimbus v24.7.0: beacon API improvements and fixes
• Execution layer:
  
  • Besu v24.7.1: adds experimental parallel transaction execution with 25-45% block processing improvement
  • Erigon:
    
    • Otterscan v2.6.0 alpha: dark mode, ABI guessing of non-verified contracts via WhatsABI and option to broadcast raw transactions

EIPs/Standards

• EIPs (Ethereum improvement proposals):
  
  • Interface EIP7749: Add wallet_signIntendedValidatorData method
  • EIP7212 secp256r1 precompile deleted (previously moved to RIP7212)

Stuff for developers

• Underhanded Solidity contest: transient storage theme, deadline August 31
• Hardhat v2.22.7: adds RIP7212 secp256r1 precompile support
• Remix v0.52: updated Git plugin & URL to load a GitHub folder into Remix
• Brock: Interval addition in Solidity
• EVMRepl: adds multi file support & load contract by address
• Coinbase OnchainKit Transaction React component: wraps transaction flow
• smlXL sim: create APIs & webhooks using real time onchain data

Security

• Convergence Finance $200k exploit via lack of input validation, code removed post audit for gas optimization

Ecosystem

• Ethereum ninth anniversary of mainnet launch
  
  • Lefteris names the faces in the launch photo
• Devcon:
  
  • Speaker application deadline extended to August 4
  • Community hubs proposals wanted
• Etherscan funded by: view address & transaction that funded an EOA

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Job Listings

• Sablier are hiring a Business Development Lead and Frontend Engineer
• EF seek a European/Civil Law qualified Legal Counsel
• Nethermind: Senior Device Security Engineer, Senior DevOps Engineer AMER & APAC, Full Stack Lead APAC, Post-Grad Internship & App Security Engineer

Job listings: $600 for 4 issues (75 char limit).  Pay using 3cities.  Questions? abcoathup at-gmail

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Onchain stats

• Fees (via ultrasound.money):
  
  • Gas: 0.8 to 53.8 gwei, 4.8 gwei average; zero net issuance at 23.7 gwei 
  • 14k ETH net issuance this week
• ETHUSD: $2,960 – $3,391, currently $2,963, all time high $4,878
• ETHBTC: currently 0.048 (Flippening at ~0.164)

Notable at app layer

• Compound agrees to staked COMP product in exchange for Humpy canceling proposal
• Synthetix USDx (collateralized stablecoin) on Arbitrum, 0% interest borrowing

Regulation/business/tokens

• Jonathan Mann (Song a Day) is suing the SEC to clarify sale of NFT art isn’t an unregistered security
• BitClout founder charged by SEC for fraud & offering unregistered securities
• Alleged crypto recovery scammer charged by Manhattan DA

General

• Ferrari exec foiled deepfake audio; Reminder: ask security questions

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END OF SERVICE: plan to deprecate Week in Ethereum News

Editor: @abcoathup
Follow @WeekinEthNews for the most clicked links
Permalink: https://weekinethereumnews.com/week-in-ethereum-news-august-3-2024

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Upcoming Dates of Note

(new/changes in bold)

• Aug 7-9 – Science of Blockchain Conference (New York)
• Aug 15-17 – Ethereum Uruguay hackathon & conference
• Aug 23-Sep 13 – ETHGlobal ETHOnline virtual hackathon
• Aug 23-26 – ETHTokyo hackathon & conference
• Aug 29-31 – ETHAccra hackathon
• Aug 31 – Underhanded Solidity contest deadline
• Sep 5-8 – ETHWarsaw conference & hackathon
• Sep 9-15 – ETHSafari (Kenya)
• Sep 12-14 – NapulETH (Napoli)
• Sep 13-14 – Ethereum México
• Sep 20-22 – ETHCapeTown hackathon
• Sep 20-22 – ETHGlobal Singapore hackathon
• Sep 26-27 – ETHMilan conference
• Oct 4-6 – Ethereum Kuala Lumpur conference & hackathon
• Oct 4-6 – ETHRome hackathon
• Oct 17-19 – ETHSofia conference & hackathon
• Oct 17-20 – ETHLisbon hackathon
• Oct 18-20 – ETHGlobal San Francisco hackathon
• Nov 12-15 – Devcon 7 – Southeast Asia (Bangkok)
• Nov 15-17 – ETHGlobal Bangkok hackathon

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