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    Ethereum Prysmatic Labs Eth 2.0 Dev Update #42

    January 31, 2020

    Ethereum Prysmatic Labs Eth 2.0 Dev Update #42

    Prysmatic Labs Eth 2.0 Dev Update #42

    Posted: 31 Jan 2020 01:42 PM PST

    Augur Weekly - Expert Political Trader Shares His Iowa Predictions & 538 vs. Markets

    Posted: 31 Jan 2020 05:48 AM PST

    THE ABILITY TO VENTURE DOWN A WHOLE BUNCH OF RABBIT HOLES IN PARALLEL IS THE ETHEREUM COMMUNITY'S STRENGTH!!!1!

    Posted: 31 Jan 2020 02:45 PM PST

    "Where else do you see as many parallel tracks like sharding, PoS, Plasma, generalized state channels, optimistic rollup, ZK rollup, stablecoins, DAOs all happening at the same time?"

    Had to share this as the original post was downvoted and many will miss it. Here is Vitalik's response to 12 pages of criticism by "Checkmatey " As posted here Why ETH Won't Sustain a Monetary Premium

    vbuterin:

    I hear quite often this opinion that having a present 21M limit is really really important, and that Ethereum should adopt it if it wants to stand a chance at getting any SoV status. And yet, when I've asked people in the ethereum community how important it is (I asked this most publicly at the "Controversial Questions" panel at EDCON 2019 in Sydney), the response is typically "eh, not that big a deal". Ethereum people seem to by and large value pragmatism and assign less importance to trying to have commitments that we publicly pretend are infinitely strong (but in reality are quite malleable, as we discovered in the Binance rollback crisis when I was surprised to learn that maximalist ideology now does NOT consider even multi-day reversions of the chain to be violations of "immutability").

    And there's a good reason for not publicly committing to no possibility of retreat from a fixed issuance formula, and that reason is this. There is an unavoidable tradeoff between stability of issuance level and stability of security level. This is simple to see. You need to pay miners (or in PoS validators) to secure the chain, and the security level is roughly proportional to how many of those you attract, which is roughly proportional to how well you pay them. Payment to miners/validators equals issuance + transaction fees. Hence, if issuance is zero, the security level depends on the level of transaction fees, which is quite volatile. So if you want a guarantee of security, then you have to admit the possibility that if transaction fees are low during some period of time then you will have issuance. Ethereum does not have less stability than bitcoin; rather, it chooses stability of level of security over stability of issuance, and given how tiny an impact a 0.5% change in issuance will actually have on anyone's fortunes it should be clear that this is the correct choice.

    Ultimately, this burning mechanism is of greatest benefit to current ETH holders and is to the detriment of holders and users in the future.

    Huh? What is the evidence for this? This was just asserted without any argument backing up the idea that there is a detriment to anyone.

    One can only conclude that the monetary policy of Ethereum is relatively fluid and influenced by people rather than code. This uncertainty reflects an un-sound monetary policy (subject to human tampering) and instils a defendable perception of centralised governance.

    Given how central fees are to bitcoin's long-term security narrative, and how central (i) block size changes like segwit, and in the future sig compression via schnorr and (ii) layer 2 protocols like LN, are to fee levels, can't you argue that the security policy of Bitcoin is relatively fluid and influenced by people rather than code?

    Narratives have shifted from world computer, to unstoppable dAPPS, to token issuance and now to open finance applications.

    Shifted? As far as I can tell, narratives were rarely subtracted, mostly new ones added. And that's what you should expect for a general purpose technology.

    Furthermore, the ETH 2.0 beacon chain very much resembles Bitcoin by design, handling consensus and global state only with applications and bloat pushed to shards (sidechains or L2+ in Bitcoin's case).

    This author needs to understand the concept of tight coupling to see why shards are not like sidechains. That claim is as incorrect as claiming that the bitcoin block is a sidechain to bitcoin headers.

    Whilst the Open finance ecosystem presents impressive technological and engineering successes, there remains a lingering risk of over reliance on third party protocols for value accrual to the ETH token.

    Yes, general purpose technology requires at least one application to succeed. We know that. BTW ETH itself being used for payments is also a totally reasonable application, and has not been denounced.

    A relatively centralised governance and an unsound monetary policy with signs this will only deteriorate in time.

    Once again bare assertion with no evidence. How do we know that the monetary policy and governance will only deteriorate over time when all evidence suggests (i) issuance only going down, not up, and (ii) DAO-like forks becoming more difficult, not less?

    Ethereum has historically required more specialised, high performance hardware for the operation of nodes. This is generally a result of a larger scope of transactions and heavier demand on block-space from Turing Completeness.

    Actually it's largely because of IO issues, which will be solved by stateless clients.

    The author challenges readers to consider how far advanced Bitcoin is in achieving the goals of digital, sound, immutable money whilst Ethereum has ventured down numerous dead end rabbit holes.

    THE ABILITY TO VENTURE DOWN A WHOLE BUNCH OF RABBIT HOLES IN PARALLEL IS THE ETHEREUM COMMUNITY'S STRENGTH!!!1! Where else do you see as many parallel tracks like sharding, PoS, Plasma, generalized state channels, optimistic rollup, ZK rollup, stablecoins, DAOs all happening at the same time?

    I would even argue that the frame that there must be a single dominant application narrative is one that we should reject; instead, the Ethereum community should be proud of its own great internal diversity.

    submitted by /u/c-i-s-c-o
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    Ethereum 2.0 Scientific Papers

    Posted: 31 Jan 2020 06:54 AM PST

    Hey guys,

    as some of oyu may know, I am currently writing my bachelor thesis on Ethereum. Right now I am a little bit stuck. A big part of my paper is going to be the Ethereum 2.0 Update and what the differences are compared to Ethereum. My Problem is, that most of the information I got are from sites like medium.com which are great for understanding what is happening but not really approved by my professor as "scientific enough".

    Do you maybe know official papers (e.g. from conferences etc.) that I could take a look at?

    ​

    Thank you very much in advance <3

    submitted by /u/Abbyfriend
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    Kraken Identifies Critical Flaw in Trezor Hardware Wallets

    Posted: 31 Jan 2020 06:43 AM PST

    Happy birthday, Vitalik Buterin! - The Cryptonomist

    Posted: 31 Jan 2020 12:25 AM PST

    Launching Aztec -- Privacy on Ethereum has arrived

    Posted: 31 Jan 2020 07:07 PM PST

    iExec teams up with Chainlink with new DeFi insurance product on Ethereum

    Posted: 31 Jan 2020 06:07 AM PST

    Does Ethereum need marketing?

    Posted: 31 Jan 2020 04:30 PM PST

    Does Ethereum need marketing?

    @safetyth1rd started the latest discussion:

    Controversial take: #ethereum/ @ethereum needs more marketers MUCH more than it needs more engineers at this point.

    Eth 1.x technologies like optimistic rollups/zkrollups are also progressing very well, but due to lack of marketing efforts, this is not very well known either outside of the #ethereum community.

    Ethereum already has tons of killer apps, both #DeFi and otherwise, with MAINSTREAM applications - the golden grail of crypto. Yet the mainstream media and average joe have NO IDEA they even exist.

    /u/vbuterin quote-retweeted and added a thought:

    A software project becomes 2x more valuable if 2x more potential users learn about it.

    /u/dcinvestor added his opinion:

    I don't like the term "marketing," but don't have a better alternative.

    But alongside engineering, Ethereum needs more attention on educating outsiders about its use / potential, on-boarding new users, building stronger user communities, and ensuring false info doesn't dominate.

    Some think that marketing is bad, but Anthony Sassano added:

    Marketing does not mean pumping ETH or posting selfies with big companies and saying "partnership coming soon!!".

    Marketing is:

    -Education

    -Writing blog posts

    -Curating newsletters

    -Publishing videos

    -Doing podcasts

    -etc etc

    Joey Krug shared his experiences:

    ~1/2 to 2/3 of the time spent developing augur is spent fixing / debugging / addressing issues with the underlying tech stack vs actually building augur. I wish that were more like 10% or less like it is for normal web / apps

    Thoughts from MuteDialog:

    While communication is important it is also important to:

    -Study the marketplace to identify users, developers, investors.

    -Do ethnography & interviews in order to understand their needs, wants & blockers.

    -Figure out how we can address their needs and remove barriers.

    /u/insomniasexx thinks that if the Ethereum protocol is for developers, then so far we're doing pretty well:

    Ethereum, as a protocol or platform, is for developers. Those are it's users. That is it's customer.

    Ergo, Ethereum has done an amazing job at marketing.

    I feel like this is a polarizing topic. We have folks who say marketing is bad, but we also have stuff like the MarketingDAO.

    • Does Ethereum need marketers?
    • Who should be doing the marketing, and who should those marketers be targeting? Devs or users?
    • What is the responsibility of the protocol, and what is the responsibility of the products.
    • Are marketers more important than engineers right now?
    • Are engineers the audience for Ethereum?
    submitted by /u/trogdortb001
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    Is RocketPool safe?

    Posted: 31 Jan 2020 04:11 AM PST

    I would like to stake my ETH but don't have the required 32 so I'm looking for alternatives and came across RocketPool. But honestly, I'm not really comfortable sending my ETH there.

    submitted by /u/tamastorok
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    ERC-20 USDT Supply on Exchanges Keep Dwindling

    Posted: 31 Jan 2020 03:38 AM PST

    Any thoughts on why this supply is decreasing at such a steep pace?

    USDT is still popular, no reason why there should be less demand? Tether has been the top gas generator on Ethereum for a while now.....

    here is an article with more information : https://fintoism.com/metrics/erc-20-usdt-exchange-supply-decreased-by-nearly-50-since-september-2019/

    submitted by /u/thejdebunt
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    Celer-> ETHDenver with mainnet upgrades, SGN Testnet, fun games, dApp monetization SDKs, and one more surprise!

    Posted: 31 Jan 2020 12:48 PM PST

    1. Celer is launching the next-generation mainnet and the first generic and decentralized layer-2 "watch tower" service: State Guardian Network's Testnet at ETHDenver. Staking is also coming with State Guardian Network.
    2. Build and monetize with newly upgraded Celer SDKs: CelerX Gaming SDK, Celer Web Client SDK
    3. Play CelerX games, win crypto prizes: we prepared fun and exciting crypto tournaments for ETHDenver blockchain week, please stay tuned!
    4. And we have one more nice surprise to announce :D

    More details:

    https://medium.com/celer-network/celer-ethdenver-with-fun-games-dapp-monetization-mainnet-upgrades-staking-and-one-more-f19fcdb9fd4c

    submitted by /u/no89key
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    Are all smart contracts open source and inspectable? How can you know that at some point when the service has gained trust not all will be sent to some address?

    Posted: 31 Jan 2020 08:13 AM PST

    See title. I am pretty sure you can inspect all smart contracts but don't know.

    submitted by /u/asdafari
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    Updated awesome list: MythX smart contract security tools, howtos, docs and articles

    Posted: 30 Jan 2020 11:27 PM PST

    Bullish on Ethereum! DeFi 2020

    Posted: 31 Jan 2020 02:02 AM PST

    Decentralized Finance is the biggest topic in FinTech and over 350 companies are striving to bring it to reality on Etheruem's platform. Around $854 million in ETH is locked up in smart contracts while staking ETH has been targeted for potential 10.4% returns if ETH 2.0 launches with 2 million ETH in stake. Bitspark cash points are growing in liquidity daily and making it easier for cash buyers to purchase ERC20 stable coins and tokens. Bullish on Ethereum!

    defi guide

    submitted by /u/yceo1
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    De-anonymizing Ethereum address activity by targeting Geth nodes via Shodan. Note on security best practice recommendations.

    Posted: 31 Jan 2020 07:13 AM PST

    Lets think about "I finally own 32 ETH"

    Posted: 31 Jan 2020 06:26 PM PST

    Staking is coming right with the next update?You need 32 ETH to participate in stakingThe price is at a hard BUY price I think before the next posthalvening bull run.

    Something to think about.

    ​

    https://youtu.be/r254LrENfIU?t=1399

    submitted by /u/hard_houseinc
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    What are the current monthly bandwidth requirement for a node?

    Posted: 31 Jan 2020 11:45 AM PST

    I'm trying to do the math because I have a 1024GB data monthly plan cap.

    submitted by /u/guisquil
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    (Free Webinar) Blockchain: Beyond the Hype - ConsenSys Academy

    Posted: 31 Jan 2020 10:28 AM PST

    Comprehensive Guide to US Crypto Taxes

    Posted: 31 Jan 2020 10:00 AM PST

    Happy Görli Testnet Launch Anniversary!

    Posted: 30 Jan 2020 10:12 PM PST

    are there any good eth mixers or some other way to anonymize a transaction? thanks.

    Posted: 31 Jan 2020 09:18 AM PST
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