Tests, Restaking, and Upgrades: How Is the Blockchain Ecosystem Shaping Up?
02/08/24 • 36 min
Special Guest Host Nebojsa Urosevic, Co-Founder and Senior Vice President of Research and Development at Tenderly, joins us to share insights on Ethereum's development process and future.
This episode is sponsored by the Stellar Community Fund
Follow the show here for more.
In this installment of "The Protocol," hosts Brad Keoun, the founding editor of The Protocol Newsletter, and tech journalists Sam Kessler and Margaux Nijkerk, explore the following stories:
The Solana Blockchain Freeze
Solana, the low-latency blockchain that's seen an explosion in activity in recent months, experienced an approximately five-hour outage on Tuesday.
Eigenlayer Lifts Staking Cap, Soars Past $3B
The temporary lift comes as restaking on Ethereum is booming despite warnings from developers that it might strain the network.
Taproot Wizards NFT Project Sells OUT
All 3,000 of the "Quantum Cats" digital images were claimed by the end of Monday's public mint, selling for a fixed price of 0.1 BTC ($4,265) each – despite severe technical issues that had delayed the process by a full week.
PROTOCOL VILLAGE INTERVIEW SEGMENT
Final ‘Holesky’ Testnet
The test simulated “proto-danksharding,” a technical feature aimed at reducing the cost of transactions for rollups as well as making data availability cheaper.
Guest: Nebojsa Urosevic is Co-Founder and SVP of R&D at Tenderly -
A full-stack infrastructure solutions provider, powering Web3 developer teams with the essential tools and services throughout their development journeys. As a former software engineer for almost a decade, with experience in building, scaling and maintaining large-scale distribution cloud systems, Nebojsa is now responsible for the development and maintenance of a custom scalable Ethereum Virtual Machine that has the ability to reverse engineer transaction execution and perform various simulations in real-time.
Takeaways |
- The recent Solana outage highlights the challenges of scaling blockchain networks and the need for continuous infrastructure improvement.
- The Eigen Layer restaking protocol offers a new way to earn rewards and secure other protocols, but there are still risks and uncertainties associated with it.
- The DenKun upgrade and Proto-Dang Sharding are important steps towards improving scalability and reducing costs on the Ethereum network.
- The development of layer 2 solutions and the competition among them will play a crucial role in the future of Ethereum and blockchain technology.
Sign Up for THE PROTOCOL NEWSLETTER
EPISODE LINKS |
Solana Back Up Following Major 5-Hour Outage
EigenLayer Lifts Staking Cap, TVL Soars Past $3B
Bitcoin NFT Project Taproot Wizards Sells Out First Collection, Raking in $13M
Ethereum's Dencun Upgrade Reaches Final ‘Holesky’ Testnet, Starting Countdown to Data 'Blobs'
From Our Sponsor:
The Stellar Community Fund (SCF) is an open-ap...
Special Guest Host Nebojsa Urosevic, Co-Founder and Senior Vice President of Research and Development at Tenderly, joins us to share insights on Ethereum's development process and future.
This episode is sponsored by the Stellar Community Fund
Follow the show here for more.
In this installment of "The Protocol," hosts Brad Keoun, the founding editor of The Protocol Newsletter, and tech journalists Sam Kessler and Margaux Nijkerk, explore the following stories:
The Solana Blockchain Freeze
Solana, the low-latency blockchain that's seen an explosion in activity in recent months, experienced an approximately five-hour outage on Tuesday.
Eigenlayer Lifts Staking Cap, Soars Past $3B
The temporary lift comes as restaking on Ethereum is booming despite warnings from developers that it might strain the network.
Taproot Wizards NFT Project Sells OUT
All 3,000 of the "Quantum Cats" digital images were claimed by the end of Monday's public mint, selling for a fixed price of 0.1 BTC ($4,265) each – despite severe technical issues that had delayed the process by a full week.
PROTOCOL VILLAGE INTERVIEW SEGMENT
Final ‘Holesky’ Testnet
The test simulated “proto-danksharding,” a technical feature aimed at reducing the cost of transactions for rollups as well as making data availability cheaper.
Guest: Nebojsa Urosevic is Co-Founder and SVP of R&D at Tenderly -
A full-stack infrastructure solutions provider, powering Web3 developer teams with the essential tools and services throughout their development journeys. As a former software engineer for almost a decade, with experience in building, scaling and maintaining large-scale distribution cloud systems, Nebojsa is now responsible for the development and maintenance of a custom scalable Ethereum Virtual Machine that has the ability to reverse engineer transaction execution and perform various simulations in real-time.
Takeaways |
- The recent Solana outage highlights the challenges of scaling blockchain networks and the need for continuous infrastructure improvement.
- The Eigen Layer restaking protocol offers a new way to earn rewards and secure other protocols, but there are still risks and uncertainties associated with it.
- The DenKun upgrade and Proto-Dang Sharding are important steps towards improving scalability and reducing costs on the Ethereum network.
- The development of layer 2 solutions and the competition among them will play a crucial role in the future of Ethereum and blockchain technology.
Sign Up for THE PROTOCOL NEWSLETTER
EPISODE LINKS |
Solana Back Up Following Major 5-Hour Outage
EigenLayer Lifts Staking Cap, TVL Soars Past $3B
Bitcoin NFT Project Taproot Wizards Sells Out First Collection, Raking in $13M
Ethereum's Dencun Upgrade Reaches Final ‘Holesky’ Testnet, Starting Countdown to Data 'Blobs'
From Our Sponsor:
The Stellar Community Fund (SCF) is an open-ap...
Previous Episode
'Protocol Councils’ Can the Blockchain Ecosystem Trust These People?
Joining us, Riad Wahby, Co-founder and CEO of Cubist, delves into the risks of restaking, potential contagion effects on blockchain security, and the essential questions that the blockchain ecosystem must address.
This episode is sponsored by the Stellar Community Fund
Follow the show here for more.
In this installment of "The Protocol," hosts Brad Keoun, the founding editor of The Protocol Newsletter, and tech journalists Sam Kessler and Margaux Nijkerk, explore the following stories:
TOPICS |
Lido DAO Endorses Rivals
LayerZero launched a Lido stETH bridge last October without asking for Lido DAO's permission. The community responded this week by endorsing a pair of its biggest competitors.
"Blockchain protocols frequently pride themselves on their "permissionlessness" – the idea that anyone, anywhere can build on top of a protocol without asking for explicit approval. But in practice, it is sometimes wiser to ask for permission."
Blockchains and Decentralization
The goal of these "protocol councils,” sometimes called “security councils,” is to nudge these nascent networks toward increasing decentralization, by gradually removing them from under the control of their original developers. How are they different from boards of directors?
PROTOCOL VILLAGE INTERVIEW SEGMENT
Guest: Riad Wahby
Riad Wahby is the co-founder and CEO of Cubist, a developer of hardware-backed, non-custodial key storage and signing infrastructure that enables companies to protect staking keys and secure withdrawals.
Takeaways |
Keys are fundamental in blockchain interactions and require careful management to ensure security.
Restaking introduces risks and potential contagion effects that can impact the security of the underlying blockchain.
The restaking ecosystem offers opportunities for innovation and collaboration, but reputation and risk assessment are crucial for making informed decisions.
Building systems that can withstand non-compliant users and incentivize responsible behavior is essential for the long-term success of blockchain networks.
There is continued interest in blockchain and crypto among students, with a focus on computer security, cryptography, and the intersection of blockchain and AI.
Balancing entrepreneurship and academia requires efficient time management and leveraging the support of graduate students and teaching assistants.
Sign Up for THE PROTOCOL NEWSLETTER
EPISODE LINKS |
Lido DAO Rebukes LayerZero by Endorsing Rivals Wormhole, Axelar for Crypto Bridge
As Blockchains Push Toward Decentralization, These People Serve as Ultimate Guardians
Riad S. Wahby - Google Scholar
Cubist Launches Bank-Grade Ethereum Key Management Service
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From Our Sponsor:
The Stellar Community Fund (SCF) is an open-application awards program that draws on community input to support developers and startups building on Stellar and Soroban. Accelerate your web3 project today.
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Next Episode
The Trio of Crypto Trends: Is It a Meme or Is It Hype? Ethereum Tokens, a Bitcoin Code Resurgence and Airdrop Fever
The hosts dissect three key topics: the inception of DN 404 tokens on Ethereum, the resurgence of the OP_CAT function in Bitcoin, and the ongoing airdrop season in the crypto sphere, delving into the implications and controversies surrounding these developments.
This episode is sponsored by the Stellar Community Fund
Follow the show here for more.
In this installment of "The Protocol," hosts Brad Keoun, the founding editor of The Protocol Newsletter, and tech journalists Sam Kessler and Margaux Nijkerk, explore the following stories:
Developers on the Ethereum platform introduce 'DN-404' tokens.
The new token type claims to solve some of the drawbacks with ERC-404s, an experimental standard that launched last week – to such popularity that it's already driven up congestion on the Ethereum blockchain.
The 'OP_CAT' function from the Satoshi-era Bitcoin code is being revived amidst a surge in development enthusiasm.
Developers Ethan Heilman and Armin Sabouri view OP_CAT as a simple opcode that offers some of the general-purpose functionality currently missing in Bitcoin
The Eigenlayer TVL experiences a significant spike due to a suspected airdrop.
Capital locked on restaking protocols is now at $10 billion, in December it was just $350 million.
Takeaways |
ERC-404 tokens on Ethereum allow for the fractionalization of NFTs, enabling greater liquidity and trading opportunities.
The revival of the Opcat function in Bitcoin's development could open up new possibilities for building on the network.
Airdrop season is in full swing, with various projects distributing tokens to reward users and incentivize participation in their ecosystems.
Sign Up for THE PROTOCOL NEWSLETTER
EPISODE LINKS |
Ethereum Developers Create 'DN-404' Tokens After ERC-404s Send Network Fees Surging
What Is ERC-404? The Experimental Standard Whose First Token Has Rocketed 12000% in One Week
Satoshi-Era Bitcoin Function 'OP_CAT' Dusted Off as Development Fervor Grows
Starknet Blockchain Plans Much-Awaited Airdrop of New STRK Tokens Next Week
EigenLayer's Cap Lift Prompts $4B Inflow as ETH Restaking Heats Up
Wormhole airdrop: Wormhole (W) Tokenomics
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From Our Sponsor:
The Stellar Community Fund (SCF) is an open-application awards program that draws on community input to support developers and startups building on Stellar and Soroban. Accelerate your web3 project today.
Apply for Funding at communityfund.stellar.org
-
The Protocol has been produced and edited by senior producer Michele Musso and our executive producer is Jared Schwartz. Our theme song is “Take Me Back” by Strength To Last.
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