Christine Kim Profile picture
Jun 16 15 tweets 17 min read Twitter logo Read on Twitter
gm, for anyone who missed yesterday's acdc call, here's a quick summary:

galaxy.com/research/insig…
On ACDC #111, developers discussed what CL-focused EIPs to include in Deneb. Deneb is the name of the CL upgrade that will occur simultaneously with the Cancun EL upgrade.

Last week, client teams finalized the scope of Cancun. Summary of last week's call:
galaxy.com/research/insig…
The 3 CL-focused EIPs that are being prepped for Deneb are:
- EIP 7044: A code change to improve the staking user experience by ensuring that signed validator exits are valid in perpetuity. The EIP proposed by @dapplion has been merged into Deneb specs.

github.com/ethereum/conse…
@dapplion - EIP 7045: A code change to enhance chain security. The EIP would expand the attestation slot inclusion range from a rolling window of one epoch to two epochs. The EIP proposed by @dannyryan is undergoing more discussion and a final review.

github.com/ethereum/conse…
@dapplion @dannyryan - EIP 4788: A code change to improve the staking user experience. The EIP would expose roots of Beacon Chain blocks containing information about chain state inside of the Ethereum Virtual Machine (EVM) for trust-minimized access by decentralized application (dapp) developers.
@dapplion @dannyryan EIP4788 like EIP 4844 impacts both the EL and CL. It was proposed by @ralexstokes and greenlit for inclusion in Cancun and Deneb during ACDE #163.

galaxy.com/research/insig…
@dapplion @dannyryan @ralexstokes Developers are still considering increasing the maximum blob count per block from 4 to 6 as per the recommendation of @dankrad. Related to this discussion around the maximum blob count, @jcksie raised the issue of increasing block reorganizations on mainnet post-Shanghai upgrade.
@dapplion @dannyryan @ralexstokes @dankrad @jcksie “What’s been happening over the past six months is that we’ve gone from practically no reorgs at all to a few per hour. There’s no great answer as to why this is happening, just a couple of theories. It looks like it’s growing with the number of validators," said @jcksie.
@dapplion @dannyryan @ralexstokes @dankrad @jcksie Based on these observations, @jcksie proposed considering changes to the four second deadline for aggregating validator attestations and sending them through the network. Devs agreed to do more investigation into the matter.
@dapplion @dannyryan @ralexstokes @dankrad @jcksie .@mikeneuder shared his proposal to remove the 32 ETH cap on validator effective balances to help reduce the growth of the active validator set.

ethresear.ch/t/increase-the…
@dapplion @dannyryan @ralexstokes @dankrad @jcksie @mikeneuder Developers debated the potential pitfalls of this change and the possibility of combining the proposal with the proposal to enable initiations of partial and full withdrawals directly from the EL. Ultimately, devs agreed to continue discussing this proposal asynchronously.
@dapplion @dannyryan @ralexstokes @dankrad @jcksie @mikeneuder Before ACDC #111, Ethereum core developers met for their first coordination call on the launch of the Holesky test network. As background, Holesky is envisioned to replace the existing Goerli testnet by the end of the year.

github.com/Ethereum/pm/is…
@dapplion @dannyryan @ralexstokes @dankrad @jcksie @mikeneuder .@parithosh_j said that his team was looking to get confirmations from client teams, Layer-2 protocols, and other Ethereum stakeholders on their commitment to put up infrastructure and run validators for the genesis of Holesky.
@dapplion @dannyryan @ralexstokes @dankrad @jcksie @mikeneuder @parithosh_j The plan is to gather these commitments by the next Holesky Coordination Call on June 29 and prepare a final configuration release for Holesky in August and hopefully launch the testnet by September 15.
@dapplion @dannyryan @ralexstokes @dankrad @jcksie @mikeneuder @parithosh_j That's it for the call summary! For more details on what was discussed on ACDC #111, read the full call notes:

galaxy.com/research/insig…

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More from @christine_dkim

Jun 16
📬NEW REPORT ALERT 📬

This one is on EIP 4844, proto-danksharding, the most important code change going into the next Ethereum upgrade, Cancun/Deneb.

galaxy.com/research/insig… Image
At a high-level, EIP 4844 introduces a new transaction type, called blobs, increases the data and storage requirements of Ethereum blocks, and creates a new fee market for pricing blobs separately from regular transactions.
Additionally, proto-danksharding is a precursor and “prototype” of full danksharding which will enable existing Ethereum nodes to safely process several more blobs per block than the initial maximum set out by EIP 4844.
Read 18 tweets
May 17
Great podcast episode from @BanklessHQ today about the non-finality issues Ethereum faced last week. @preston_vanloon and @terencechain explained what happened and to the best of their knowledge why.

Read below for a TLDR of the episode 🧵

Full episode:
@BanklessHQ @preston_vanloon @terencechain *What happened?* Teku and Prysm validator nodes were receiving old attestations, that is votes on what the head of the chain should be, and evaluating the validity of these old attestations by replaying chain state.
@BanklessHQ @preston_vanloon @terencechain Replaying chain state is a computationally heavy operation. Teku and Prysm nodes that were experiencing high CPU loads were unable to process new attestations in a timely manner b/c they were bogged down with "valid but untimely attestations."
Read 18 tweets
May 12
This week, Ethereum developers came to consensus about a few outstanding issues related to EIP 4844 (proto-danksharding) implementation.

galaxy.com/research/insig…
1. Precompile input and output mismatch: @yperbasis, developer for the Erigon (EL) client, mentioned that the input format for the EIP 4844 precompile differs from its output. The input uses little-endian while the output uses big-endian.
@yperbasis Developers agreed to harmonize the output and input to both rely on big-endian, which is the default method for storage of multibyte data types on the EL.
Read 11 tweets
May 1
Meme coins in a nutshell
Q: What is the purpose of your token?
A: TO PUMP KEKEKEKEKEKE
Crypto in a nutshell
Q: Why does this have to happen on the blockchain?
A: TO PUMP KEKEKEKEKE
Life as a crypto reporter/researcher in a nutshell
Q: Can you please give a serious answer?
A: NO KEKEKEKEKEKE
Read 4 tweets
Apr 28
What's going into the next Ethereum upgrade, Cancun? 🦜

Yesterday, Ethereum devs agreed to include *three additional EIPs* alongside EIP 4844 (proto-danksharding) in Cancun.

galaxy.com/research/insig…
1. EIP 6780: Changes the functionality of the SELFDESTRUCT opcode so that the operation sends all ETH in an account to the caller, except when the opcode is called in the same transaction a contract was created.

eips.ethereum.org/EIPS/eip-6780
2. EIP 6475: A new Simple Serialize (SSZ) type to represent optional values. This makes the implementation of EIP 4844 more future-compatible with a larger forthcoming SSZ update to the EL of Ethereum.

eips.ethereum.org/EIPS/eip-6475
Read 10 tweets
Apr 24
Here are two views on total ETH staked by @nansen_ai and @coinmetrics. The one by Nansen suggests deposit inflows are beating withdrawal outflows and the one by CM suggests the opposite.

They're both correct and I want to explain why: 🧵 ImageImage
@nansen_ai @coinmetrics 1. The Nansen chart illustrates deposit inflows and withdrawal outflows over the last 7 days. The Coin Metrics chart I pulled illustrates net flows over a longer time period. ImageImage
@nansen_ai @coinmetrics 2. Nansen's chart features hourly data so intra-day fluctuations in outflows vs inflows can be seen while Coin Metrics aggregates this data on a *daily* basis, which is why the shape of the lines (purple line on nansen vs red on coin metrics) look drastically different. Image
Read 11 tweets

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