Crypto && Coffee 092
- 4 minsTechnology Recap:
Bitcoin:
- In the latest Bitcoin Optech Newsletter, we dive into two major privacy features that Taproot enables for Lightning Network. This includes PTLCs (Point Time Locked Contracts) which allows payment decorrelation without any need to randomize nodes.
Ethereum:
- A consensus bug hit Ethereum mainnet on August 27th, 2021. The consensus bug, which was fixed in Geth v1.10.8 was exploited and resulted in all miners and nodes that were running previous versions to follow the non-longest chain. This exploit was then relayed on other networks such as BSC. As other chains are EVM-compatible and derive their underlying codebase from Geth, this exploit could be executed on Polygon, Gorli, Huobi Eco Chain and others. All services were alerted to immediately upgrade to Geth v1.10.8. Following the exploit, multiple exchanges and services such as Okcoin paused all ETH and ERC-20 withdrawals.
- An article was published under Ethereum Research entitled Committee-driven MEV Smoothing. This post encapsulates reducing the variance in MEV (Miner Extractable Value), that is captured by each validator, with the ultimate goal of getting the distribution of rewards to be close to uniform.
- Tim Beiko publishes a note on the renaming of eth1 and eth2 to “execution” and “consensus” across GitHub, Discord, and more.
- Ben Edgington shares that latest in regard to eth2, the Beacon Chain, Altair, The Merge, and more!
Other Chains:
- Optimism releases a new Gateway interface which enables arbitrary token deposits and withdrawals to Optimistic Ethereum!
- StarkWare announces StarkNet Alpha 2! This adds support for composability, which is a main feature defining StarkNet’s Constellations phase.
- Chainlink Price Feeds are now live on Optimistic Ethereum!
- Dive into StarkWare under the hood and everything that goes into their ZK rollup technologies.
- Georgios Konstantopoulos shares a Rust CLI for OpenSea which allows one to purchase NFTs straight from their terminal with support for Flashbots.
- OpenZeppelin published their v4.3.1 release for openzeppelin-contracts which fixed a security vulnerability in the TimelockController smart contract. All projects using this should immediately migrate.
- As NFTs and the rise of Bored Ape Yacht Club continues, the team shares their roadmap!
- The CTO of Beam announces that decentralized bridges between Beam and Ethereum are progressing and shares information on how they will work.
- Arbitrum shares that arbiscan is now live!
- Girl Gone Crypto sits down with Zaki Manian, co-Founder of Sommelier, to chat about how they are working to simplify the DeFi experience.
- Aave introduces Aave Governance cross-chain bridges, a unique set of tools to enable true cross-chain governance on Ethereum.
- Avalanche is the latest base layer to be added to DeFi aggregator OpenOcean. In addition, OpenOcean is also integrating Chainlink Price Feeds to secure their limit order functionality.
- Celer Network shares that they have brought in support for Optimism with fast layer-1 withdrawals and cross-layer-2 transfer support!
- OpenZeppelin is joining the effort to build StarkWare’s StarkNet!
- Hop Protocol introduces Hoptimism, the first fast bridge connecting Optimism to Ethereum and other scaling solutions.
- The Ethereum Name Service, ENS, announces that full DNS namespace integration to ENS is now live on mainnet!
Mainstream Recap:
- A U.S. Securities and Exchange Commission (SEC) director called crypto scams the “flavor of the year” at a virtual event last week. According to the Federal Trade Commission, between October 2020 and May 2021 there have been more than 7,000 reported scams to the FTC.
- The Ontario Securities Commission has barred a pair of trading platforms that offer crypto services from trading Tether. The approval appears to limit the platforms, Wealthsimple and Coinberry, to a select number of cryptocurrencies.
- Stephen Curry has joined the Bored Ape Yacht Club with the purchase of BAYC #7990 for 55 ETH.
- Jack Dorsey announces that he wants to build a decentralized Bitcoin exchange.
- Sotheby’s shares that the Bored Ape Yacht Club sale starts September 2, 2021.
- Coinbase shares that they have started a new team to work on scaling blockchains and integrating cutting edge technology such as layer-2s into their products.
- Jamie Burke publishes a thread on the private viewing of the Dolce & Gabbana physi-digital couture Genesis NFT event in Venice, Italy.
- Celo announces the launch of the $100M DeFi For the People fund! In collaboration with Ethereum-native protocols Aave, Curve, Sushi, PoolTogether, 0x, and UMA - the program will offer more than $100M in educational incentives, grants, and more.
- Dave White of Paradigm shares a new NFT derivative, the floor perpetual. Floor perpetuals are synthetic NFTs that track the floor price of a given project and can be minted by locking up NFTs from that project.
This Week’s Cup of Coffee:
This week, we are jumping over to Williamsport, PA for a cup of Sabra Blend from Alabaster Coffee Roaster and Tea Co., which is a blend of roasts from Brazil and Colombia which yields flavors of dark cocoa, cherry, and honey! This is a great roast for espresso in the early morning! Enjoy!!
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