"Account Abstraction is the future of crypto"

You've probably heard this line many times, but weren't sure what it meant. So let's fix that.

I present to you the beginner's guide to Account Abstraction - what it is, how it works, and how it'll change crypto apps forever 🧵: I'm not going to bore you with the technical and implementation details of Account Abstraction (that'll be a future thread).

Instead, this will be a very high-level overview of AA with practical examples of how it has improved the crypto user experience over the last few years.

A beginner's guide to Runes - the new protocol that will bring fungible tokens to Bitcoin at the halving 🧵: To start, what are fungible tokens?

These are tokens that are not unique in nature, can be divided, and are interchangeable. They exist on other blockchains as ERC20s on EVM chains or SPL on Solana.

Examples include memecoins and governance tokens.

EIP-3074 was just approved to go live in the next Ethereum hard fork.

This EIP will forever change how users interact on EVM chains, making wallet UX simpler, cheaper, and more powerful.

Here's a high level overview of EIP-3074 and how it'll change the game 🧵: The TLDR of 3074 is that it gives EOAs (normal wallets) smart contract capabilities (like account abstraction).

This includes the ability to do single tx approvals, batch txs, wallet asset recovery, sponsored txs, and more.

Let's first talk about the issues with modern wallets.

We are now 2 days away from Ethereum's Dencun upgrade, the largest fork since the Merge.

Here's a summary of the biggest changes in Dencun and how they'll affect you 🧵: First off, why the name "Dencun"?

Ethereum has 2 types of clients, an execution client and a consensus client. Each type has its own set of upgrade names.

On the execution side, we have the Cancun upgrade, while the client side has the Deneb upgrade.

Combined, we get Dencun.

The beginner's guide to understanding Bitcoin Ordinals - what they are, how they differ from other NFTs, and why they're here to stay 🧵: In order to understand ordinals, you first need to understand how Bitcoin works.

Bitcoin uses "unspent transaction outputs" or UTXOs to manage balances. You can think of UTXOs as batches of currency that you own.

Bitcoin transactions result in UTXOs being consumed and created.

A lot of people are wondering how @ethena_labs is able to generate a 27% yield on their "internet bond".

Is it black magic? Are they max levered? What's the catch?

To answer those questions, here's a simple explanation of where the Ethena yield comes from 🧵: Some quick context on Ethena:

Ethena built USDe, a trust-minimized scalable stablecoin that's pegged to the US dollar. They use a combination of staked ETH and perps to maintain the peg.

Ethena also built staked USDe (sUSDe) which generates yield, similar to a traditional bond.

Excited to launch the "Divisible NFT" standard (DN404) which aims to be a hybrid ERC20/721 token.

ERC404 took the crypto world by storm over the past few days, but it doesn't follow existing standards, is inefficient, and breaks at certain edge cases.

Here's how DN404 works 🧵: For those that just want the code, you can find it here (with example contracts): .

Big shoutout once again to @optimizoor @0xQuit @0xjustadev @AmadiMichaels @PopPunkLLC and other devs for grinding this out with me over the weekend.github.com/Vectorized/dn4…

ERC404 - token standard not found.

This new "standard" has opened up a Pandora's box on crypto twitter over the last couple of days.

Is it an NFT, a fungible token, or both?

Here's a simple explanation of what ERC404 tokens really are 🧵: A quick refresher on existing tokens:

- ERC20: fungible tokens, high supply, no token is unique.
- ERC721: non fungible tokens (aka NFT), normally low supply, each token has a unique id.
- ERC1155: semi fungible tokens, there can be multiple tokens with the same token id.

It's obvious that people in crypto only care about the tech and they all want to see what the future of modular blockchains holds.

So here's a simple explanation of @dymension and what it actually does 🧵: My first tweet was sarcastic, but the rest of this thread will be serious since Dymension is building something interesting.

Let's start by understanding what it means for a blockchain to be "modular".

Traditional blockchains (Ethereum, Bitcoin) are "monolithic" blockchains.

Farcaster adoption has been skyrocketing lately, but many people still don't understand what it is.

Farcaster is not just a Twitter replacement - it's a whole decentralized protocol that can power a huge range of apps.

Here's a simple introduction to @farcaster_xyz 🧵: Let's start with the basics.

Farcaster itself is a decentralized protocol. It's deployed on-chain and has no centralized servers.

Warpcast is a client built on top of Farcaster. This is the Twitter-esque app that many of you are confusing Farcaster with.

A beginner's guide to @eigenlayer - an explanation of what it does, how it works, and why it's so powerful.

By the end of this, you'll be able to explain Ethereum restaking to your most crypto illiterate friends.

Let's begin 🧵: Ethereum is the world's most secure and decentralized computing platform.

There are over 900k validators that make sure the chain progresses correctly and honestly.

Each validator is required to stake 32 ETH, which means there's over 29M staked ETH securing the network.

Rollups are pivotal for Ethereum scaling.

They're already much cheaper than Ethereum mainnet, but they're about to get even cheaper with EIP-4844.

Here's a simple explanation of how 4844 works and how it'll change the future of Ethereum scaling 🧵: I tend to get a bit technical sometimes, so here's an ELI5 of 4844:

There's a new txn type which makes sending large chunks of data cheaper and more scalable. Rollups will switch to this this new txn type for sending txn batches to Ethereum.

Now for the full breakdown.

Inscriptions have taken down multiple chains and caused huge gas spikes over the last couple of days.

However, very few people actually understand what's going on.

Here's a simple explanation of inscriptions - how they work and why they're being spammed everywhere 🧵: The concept of Inscriptions started with Bitcoin's Ordinals. Ordinals allow data to be inscribed directly on chain - this can be text, images, videos, etc.

This is the only way for BTC to add support for NFTs and other tokens since it doesn't support smart contracts.

An explanation of the NFTTrader hack that resulted in millions of dollars worth of NFTs stolen 🧵:

(TLDR; combination of reentrancy + old approvals that were never removed) The attack starts by calling the NFTTrader contract and creating a new "swap intent" (createSwapIntent).

Normally two lists are provided - a list of tokens that the swapper wants to give up, and a list of tokens to be received.

For this attack, the former list was empty.

Celestia, one of the pioneers of the modular blockchain model, is now live with their mainnet.

Celestia's data availability layer has the ability to reduce costs and increase throughput for rollups by orders of magnitude.

Here's a high level overview of what Celestia is 🧵: Data availability refers to a blockchain's ability to supply data that enables anyone to verify the chain's state.

For rollups, this data is posted to another source (Ethereum calldata, another chain, or a DAC), from which the rollup inherits several security properties.

One of the benefits of using a rollup is the 1-2 second transaction confirmation time.

But how are rollups able to do this? Blockchain voodoo magic or some false sense of security?

Explaining the lifecycle of a rollup transaction 🧵: Before continuing, I recommend reading my intro guide to rollups here: , and my post on bridging into a rollup here: .

These posts will build up the basics of rollups for you.

https://twitter.com/0xCygaar/status/1691889902231892077

https://twitter.com/0xCygaar/status/1694836240091390368

A lot of people don't know this, but over 90% of the blocks in Ethereum are built by MEV block builders.

Sounds scary, but you shouldn't be worried.

An explanation of why this happens, and how it keeps Ethereum decentralized🧵: The mental model a lot of people have for an Ethereum txn looks like this:

user wallet -> full node -> public mempool -> validator -> consensus

However, the step between the public mempool and the validator is actually drastically different in most cases.

I just deployed a smart contract in Rust 🦀.

No, that isn't a typo.

Arbitrum just launched Stylus, a project that allows developers to deploy more efficient smart contracts written in Rust, C, and C++.

A quick overview on how Stylus completely changes contract development 🧵: Here's the official announcement: .

It's been a year since Arbitrum Nitro, which was v2 of their rollup technology. A year later, they've changed the game with Stylus.

https://twitter.com/OffchainLabs/status/1697232795268177987

Here's what happens when you bridge funds to a rollup (and why you need to stare at your screen for minutes before the funds arrive) 🧵: Previously I went over how rollups work: .

This is a good starting point if you still think a rollup is an artificially flavored fruit candy that 10 year olds eat at recess.

https://twitter.com/0xCygaar/status/1691889902231892077

I reverse engineered @friendtech's backend to better understand how it works and to see the potential risk factors to both users and the app itself.

Here's the full breakdown 🧵: I've already talked about the smart contract logic and share pricing, here's that thread if you missed it: .

The content below will focus more on system design - the different components that make up the Friend Tech app, and how they work together.

https://twitter.com/0xCygaar/status/1693030028123005305

A simple explanation of how @friendtech share pricing works (and other fun facts about friend tech's contract) 🧵: The contract can be found here: .

It's actually quite simple - users deposit eth into the contract, and the contract tracks the supply of each "friend" as well as the balances per holder of that "friend".basescan.org/address/0xcf20…