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    Tuesday, September 1, 2020

    Home Unlabelled Ethereum Now that's a lot of damage!

    Ethereum Now that's a lot of damage!

    September 01, 2020

    Ethereum Now that's a lot of damage!

    Now that's a lot of damage!

    Posted: 01 Sep 2020 11:37 AM PDT

    Sushi token explained

    Posted: 01 Sep 2020 03:08 PM PDT

    Me, a non-whale, trying to use the network

    Posted: 01 Sep 2020 01:54 AM PDT

    Eth2 quick update no. 15 - Danny Ryan

    Posted: 01 Sep 2020 09:48 AM PDT

    I can't believe $sushi is generating 2,000% APYs, HOW is this even possible?

    Posted: 01 Sep 2020 02:31 PM PDT

    I get it, they reward you sushi for staking it as liquidity providers and their token is given 10x times more for the initial 2 weeks but that's not even possible, that money has to come from somewhere or am I missing something?

    It seems like they are printing their own money and people are buying into it. Don't get me wrong, I love those massive APYs but it's unstable and won't go for long or the un-audited contracts will be hacked sooner than later.

    What do you guys think? Is sushi for real?

    submitted by /u/merunas
    [link] [comments]

    Question on the participation rate in Medalla Testnet ETH2

    Posted: 01 Sep 2020 01:53 PM PDT

    I'm just questioning myself about the participation rate, will the percent be always under 80% or it should reach 95-99, or even 100% ? Thanks.

    submitted by /u/coolfarmer
    [link] [comments]

    This account has spent nearly $5k on gas in the last 23 minutes. What's it doing? Something to do with Chainlink.

    Posted: 01 Sep 2020 09:41 AM PDT

    Ethereum on ARM. New Eth2.0 Raspberry Pi 4 image for joining the Medalla multi-client testnet. Step-by-step guide for installing and activating a validator (Prysm, Teku, Lighthouse and Nimbus clients included)

    Posted: 01 Sep 2020 01:42 AM PDT

    TL;DR: Flash your Raspberry Pi 4, plug in an ethernet cable, connect the SSD disk and power up the device to join the Eth2.0 medalla testnet.

    The image takes care of all the necessary steps to join the Eth2.0 Medalla multi-client testnet [1], from setting up the environment and formatting the SSD disk to installing, managing and running the Eth1.0 and Eth2.0 clients.

    You will only need to choose an Eth2.0 client, start the beacon chain service and activate / run the validator.

    Note: this is an update for our previous Raspberry Pi 4 Eth2 image [2] so some of the instructions are directly taken from there.

    MAIN FEATURES

    • Based on Ubuntu 20.04 64bit.
    • Automatic USB disk partitioning and formatting
    • Adds swap memory (ZRAM kernel module + a swap file)
    • Changes the hostname to something like "ethnode-e2a3e6fe" based on MAC hash
    • Automatically syncs Eth1 Goerli testnet (Geth)
    • Includes an APT repository for installing and upgrading Ethereum software
    • Includes 4 Eth2.0 clients
    • Includes EF eth2.0-deposit-cli tool
    • Includes 5 monitoring dashboards based on Grafana / Prometheus

    SOFTWARE INCLUDED

    • Geth: 1.9.20 [3] (official binary) configured for syncing Goerli Testnets
    • Eth2.0-deposit-cli: 0.2.1 (bundled) [4]
    • Prysm: 1.0.0alpha24 [5]
      • Beacon Chain (official binary)
      • Validator binary (official binary)
    • Teku: 0.12.4alpha+20200821 (compiled) [6]
    • Lighthouse 0.2.8 (official binary) [7]
    • Nimbus 0.5.0 (compiled) [8]
    • Grafana 7.0.4 (official package) [9]

    INSTALLATION GUIDE AND USAGE

    RECOMMENDED HARDWARE AND SETUP

    • Raspberry 4 (model B) - 4GB or 8GB (8 GB RAM highly recommended)
    • MicroSD Card (16 GB Class 10 minimum)
    • SSD USB 3.0 disk (see storage section)
    • Power supply
    • Ethernet cable
    • Port forwarding
    • A case with heatsink and fan (Optional but strongly recommended)
    • USB keyboard, Monitor and HDMI cable (micro-HDMI) (Optional)

    STORAGE

    You will need an SSD to run the Ethereum clients (without an SSD drive there's absolutely no chance of syncing the Ethereum blockchain). There are 2 options:

    Use an USB portable SSD disk such as the Samsung T5 Portable SSD.

    Use an USB 3.0 External Hard Drive Case with a SSD Disk. In our case we used a Inateck 2.5 Hard Drive Enclosure FE2011. Make sure to buy a case with an UASP compliant chip, particularly, one of these: JMicron (JMS567 or JMS578) or ASMedia (ASM1153E).

    In both cases, avoid getting low quality SSD disks as it is a key component of your node and it can drastically affect the performance (and sync times). Keep in mind that you need to plug the disk to an USB 3.0 port (in blue).

    IMAGE DOWNLOAD AND INSTALLATION

    1.- Download the image:

    http://www.ethraspbian.com/downloads/ubuntu-20.04.1-preinstalled-server-arm64+raspi-eth2-medalla.img.zip

    SHA256 149cb9b020d1c49fcf75c00449c74c6f38364df1700534b5e87f970080597d87

    2.- Flash the image

    Insert the microSD in your Desktop / Laptop and download the file.

    Note: If you are not comfortable with command line or if you are running Windows, you can use Etcher [10]

    Open a terminal and check your MicroSD device name running:

    sudo fdisk -l

    You should see a device named mmcblk0 or sdd. Unzip and flash the image:

    unzip ubuntu-20.04.1-preinstalled-server-arm64+raspi-eth2-medalla.img.zip

    sudo dd bs=1M if=ubuntu-20.04.1-preinstalled-server-arm64+raspi.img of=/dev/mmcblk0 conv=fdatasync status=progress

    3.- Insert de MicroSD into the Raspberry Pi 4. Connect an Ethernet cable and attach the USB SSD disk (make sure you are using a blue port).

    4.- Power on the device

    The Ubuntu OS will boot up in less than one minute but you will need to wait approximately 7-8 minutes in order to allow the script to perform the necessary tasks to install the Medalla setup (it will reboot again)

    5.- Log in

    You can log in through SSH or using the console (if you have a monitor and keyboard attached)

    User: ethereum Password: ethereum

    You will be prompted to change the password on first login, so you will need to log in twice.

    6.- Forward 30303 port in your router (both UDP and TCP). If you don't know how to do this, google "port forwarding" followed by your router model. You will need to open additional ports as well depending on the Eth2.0 client you've chosen.

    7.- Getting console output

    You can see what's happening in the background by typing:

    sudo tail -f /var/log/syslog

    8.- Grafana Dashboards

    There are 5 Grafana dashboards available to monitor the Medalla node (see section "Grafana Dashboards" below).

    The Medalla Eth2.0 multi-client testnet

    Medalla is the official Eth2.0 multi-client testnet according to the latest official specification for Eth2.0, the v0.12.2 [11] release (which is aimed to be the final) [12].

    In order to run a Medalla Eth 2.0 node you will need 3 components:

    • An Eth1.0 node running the Goerli testnet in sync [13]. Geth in our case.
    • An Eth2.0 Beacon Chain connected to the Eth1.0 node. You will need to choose a client here (Prysm, Lighthouse, Teku or Nimbus)
    • An Eth2.0 Validator connected to the Beacon Chain (same client as the Beacon Chain)

    The image takes care of the Eth1.0 setup. So, once flashed (and after a first reboot), Geth (Eth1.0 client) starts to sync the Goerli testnet.

    Follow these steps to enable your Eth2.0 Ethereum node:

    CREATE THE VALIDATOR KEYS AND MAKE THE DEPOSIT

    We need to get 32 Goerli ETH (fake ETH) ir order to make the deposit in the Eth2.0 contract and run the validator. The easiest way of getting ETH is by joining Prysm Discord's channel.

    Open Metamask [14], select the Goerli Network (top of the window) and copy your ETH Address. Go to:

    https://discord.com/invite/YMVYzv6

    And open the "request-goerli-eth" channel (on the left)

    Type:

    !send $YOUR_ETH_ADDRESS (replace it with the one copied on Metamask)

    You will receive enough ETH to run 1 validator.

    Now it is time to create your validator keys and the deposit information. For your convenience we've packaged the official Eth2 launchpad tool [4]. Go to the EF Eth2.0 launchpad site:

    https://medalla.launchpad.ethereum.org/

    And click "Get started"

    Read and accept all warnings. In the next screen, select 1 validator and go to your Raspberry Pi console. Under the ethereum account run:

    cd && deposit --num_validators 1 --chain medalla

    Choose your mnemonic language and type a password for keeping your keys safe. Write down your mnemonic password, press any key and type it again as requested.

    Now you have 2 Json files under the validator_keys directory. A deposit data file for sending the 32 ETH along with your validator public key to the Eth1 chain (goerli testnet) and a keystore file with your validator keys.

    Back to the Launchpad website, check "I am keeping my keys safe and have written down my mnemonic phrase" and click "Continue".

    It is time to send the 32 ETH deposit to the Eth1 chain. You need the deposit file (located in your Raspberry Pi). You can, either copy and paste the file content and save it as a new file in your desktop or copy the file from the Raspberry to your desktop through SSH.

    1.- Copy and paste: Connected through SSH to your Raspberry Pi, type:

    cat validator_keys/deposit_data-$FILE-ID.json (replace $FILE-ID with yours)

    Copy the content (the text in square brackets), go back to your desktop, paste it into your favourite editor and save it as a json file.

    Or

    2.- Ssh: From your desktop, copy the file:

    scp ethereum@$YOUR_RASPBERRYPI_IP:/home/ethereum/validator_keys/deposit_data-$FILE_ID.json /tmp

    Replace the variables with your data. This will copy the file to your desktop /tmp directory.

    Upload the deposit file

    Now, back to the Launchpad website, upload the deposit_data file and select Metamask, click continue and check all warnings. Continue and click "Initiate the Transaction". Confirm the transaction in Metamask and wait for the confirmation (a notification will pop up shortly).

    The Beacon Chain (which is connected to the Eth1 chain) will detect this deposit (that includes the validator public key) and the Validator will be enabled.

    Congrats!, you just started your validator activation process.

    CHOOSE AN ETH2.0 CLIENT

    Time to choose your Eth2.0 client. We encourage you to run Lighthouse, Teku or Nimbus as Prysm is the most used client by far and diversity is key to achieve a resilient and healthy Eth2.0 network.

    Once you have decided which client to run (as said, try to run one with low network usage), you need to set up the clients and start both, the beacon chain and the validator.

    These are the instructions for enabling each client (Remember, choose just one Eth2.0 client out of 4):

    LIGHTHOUSE ETH2.0 CLIENT

    1.- Port forwarding

    You need to open the 9000 port in your router (both UDP and TCP)

    2.- Start the beacon chain

    Under the ethereum account, run:

    sudo systemctl enable lighthouse-beacon

    sudo systemctl start lighthouse-beacon

    3.- Start de validator

    We need to import the validator keys. Run under the ethereum account:

    lighthouse account validator import --directory=/home/ethereum/validator_keys

    Then, type your previously defined password and run:

    sudo systemctl enable lighthouse-validator

    sudo systemctl start lighthouse-validator

    The Lighthouse beacon chain and validator are now enabled

    ​

    PRYSM ETH2.0 CLIENT

    1.- Port forwarding

    You need to open the 13000 and 12000 ports in your router (both UDP and TCP)

    2.- Start the beacon chain

    Under the ethereum account, run:

    sudo systemctl enable prysm-beacon

    sudo systemctl start prysm-beacon

    3.- Start de validator

    We need to import the validator keys. Run under the ethereum account:

    validator accounts-v2 import --keys-dir=/home/ethereum/validator_keys

    Accept the default wallet path and enter a password for your wallet. Now enter the password previously defined.

    Lastly, set up your password and start the client:

    echo "$YOUR_PASSWORD" > /home/ethereum/validator_keys/prysm-password.txt

    sudo systemctl enable prysm-validator

    sudo systemctl start prysm-validator

    The Prysm beacon chain and the validator are now enabled.

    ​

    TEKU ETH2.0 CLIENT

    1.- Port forwarding

    You need to open the 9151 port (both UDP and TCP)

    2.- Start the Beacon Chain and the Validator

    Under the Ethereum account, check the name of your keystore file:

    ls /home/ethereum/validator_keys/keystore*

    Set the keystore file name in the teku config file (replace the $KEYSTORE_FILE variable with the file listed above)

    sudo sed -i 's/changeme/$KEYSTORE_FILE/' /etc/ethereum/teku.conf

    Set the password previously entered:

    echo "yourpassword" > validator_keys/teku-password.txt

    Start the beacon chain and the validator:

    sudo systemctl enable teku

    sudo systemctl start teku

    The Teku beacon chain and validator are now enabled.

    ​

    NIMBUS ETH2.0 CLIENT

    1.- Port forwarding

    You need to open the 19000 port (both UDP and TCP)

    2.- Start the Beacon Chain and the Validator

    We need to import the validator keys. Run under the ethereum account:

    beacon_node deposits import /home/ethereum/validator_keys --data-dir=/home/ethereum/.nimbus --log-file=/home/ethereum/.nimbus/nimbus.log

    Enter the password previously defined and run:

    sudo systemctl enable nimbus

    sudo systemctl start nimbus

    The Nimbus beacon chain and validator are now enabled.

    ​

    WHAT's NEXT

    Now you need to wait for the Eth1 blockchain and the beacon chain to get synced. In a few hours the validator will get enabled and put into a queue. These are the validator status that you will see until its final activation:

    • UNKNOWN STATUS
    • DEPOSITED (the beacon chain detected the 32 ETH deposit with your validator public key)
    • PENDING (you are in a queue for being activated)
    • ACTIVATED

    Finally, it will get activated and the staking process will start.

    Congratulations!, you join the Medalla Eth2.0 multiclient testnet!

    Grafana Dashboards

    We configured 5 Grafana Dashboards to let users monitor both Eth1.0 and Eth2.0 clients. To access the dashboards just open your browser and type your Raspberry IP followed by the 3000 port:

    http://replace_with_your_IP:3000 user: admin passwd: ethereum

    There are 5 dashboards available:

    • Geth Goerli: Eth1.0 node status
    • Prysm: Eth2.0 client status
    • Lighthouse: Eth2.0 client status
    • Teku: Eth2.0 client status
    • Nimbus: Eth2.0 client status
    • Ethereum on ARM node: Raspberry Pi board Status

    Lots of info here. You can see for example if Geth is in sync by checking (in the Blockchain section) if Headers, Receipts and Blocks fields are aligned or find Eth2.0 chain info.

    Updating the software

    We will be keeping the Eth2.0 clients updated through Debian packages in order to keep up with the testnet progress. Basically, you need to update the repo and install the packages through the apt command. For instance, in order to update all packages you would run:

    sudo apt-get update && sudo apt-get install geth teku nimbus prysm-beacon prysm-validator lighthouse-beacon lighthouse-validator

    Please follow us on Twitter in order to get regular updates and install instructions.

    https://twitter.com/EthereumOnARM

    References

    1. https://github.com/goerli/medalla/tree/master/medalla
    2. https://www.reddit.com/r/ethereum/comments/hhvi2r/ethereum_on_arm_new_eth20_raspberry_pi_4_image/
    3. https://github.com/ethereum/go-ethereum/releases/tag/v1.9.20
    4. https://github.com/ethereum/eth2.0-deposit-cli/releases
    5. https://github.com/prysmaticlabs/prysm/releases/tag/v1.0.0-alpha.23
    6. https://github.com/PegaSysEng/teku
    7. https://github.com/sigp/lighthouse/releases/tag/v0.2.8
    8. https://github.com/status-im/nim-beacon-chain
    9. https://grafana.com
    10. https://www.balena.io/etcher
    11. https://github.com/ethereum/eth2.0-specs/releases/tag/v0.12.2
    12. https://blog.ethereum.org/2020/08/03/eth2-quick-update-no-14
    13. https://goerli.net
    14. https://metamask.io
    submitted by /u/diglos76
    [link] [comments]

    Scaling DeFi - New 0x blog post series

    Posted: 01 Sep 2020 05:24 PM PDT

    Exorbant fees, Eth 2.0, Cosmos Ethermint and Polkadot and other (d)PoS multichains ELI5 request

    Posted: 01 Sep 2020 04:16 PM PDT

    Hi, I was wondering if there is anyone who can ELI5 to me why we want/need/prefer eth 2.0 over existing dPos multichain solutions? What are the benefits and drawbacks of each system and would it make sense to divert some current eth traffic to these multichain protocols while we wait for eth 2.0 phase 2.

    Thanks!

    submitted by /u/jkocjan
    [link] [comments]

    Is there an way to buy gas?

    Posted: 01 Sep 2020 07:34 PM PDT

    With the defi craze going on I think Gas prices will continue to rise. Is there an exchange that has a gas derivitive or something?

    submitted by /u/SteinyBoy
    [link] [comments]

    Dive into the why, what and who of Rollups. Explore ZK Rollups and Optimistic Rollups and some of the leading implementations.

    Posted: 01 Sep 2020 12:02 PM PDT

    How to trade DeFi tokens when Ethereum gas prices spike | Matcha offers free limit orders!

    Posted: 01 Sep 2020 06:11 PM PDT

    I'm spending hundreds of dollars per day on ETH transaction costs for DEFI. Can I run my own node and process my own transactions?

    Posted: 01 Sep 2020 01:46 PM PDT

    A sign of the times - with transaction fees growing so high, spending $5-150+ per transaction is really adding up. Today I've spent > $1k.

    I've got a pretty beefy Mac Pro with 32 cores and some bulky GPUs. I know it's not likely profitable for mining, but if I ran my own node, could I point MetaMask to localhost and use my own computer to process transactions, thus saving on fees?

    Alternatively, could I run my own node on Linux in AWS (if Mac is not a good option)?

    It would also feel great to support the network.

    submitted by /u/heartman42
    [link] [comments]

    Question about Semi-Fungibility and ERC-1155

    Posted: 01 Sep 2020 08:18 AM PDT

    Hi all, I have a question about semi-fungibility that I haven't been able to answer from reading docs. In fairness, I'm still a Solidity noob.

    My usecase is traceability - say there are several factories that produce identical Widgets. All these Widgets get shipped to a warehouse first, and some buyers want 500 without caring about the origin, while others want one made specifically at one factory. Would it make sense to have one ERC-1155 contract that can create and indefinite number of semi-fungible tokens per factory? Basically, tokens need to be differentiated along only one vector (origin) while maintaining the flexibility to mint many from the same origin.

    ERC-20 isn't appropriate for the usecase, as that would require as many separate contracts as there are factories. ERC-721 also seems like it would make a unique token for each Widget made, and that is senseless granularity (in addition to requiring 500 transactions in the bulk buyer case above). Any insight is appreciated.

    submitted by /u/HugeBro
    [link] [comments]

    Ethereum Layer-2 Scaling Strategies, the Progress So Far

    Posted: 01 Sep 2020 10:26 AM PDT

    Scaling DeFi: Layer One — A visual tour of Ethereum’s scaling challenge

    Posted: 01 Sep 2020 03:22 PM PDT

    Congress to IRS: Proof-Of-Stake block rewards should not be taxed as income

    Posted: 31 Aug 2020 06:17 PM PDT

    EthHub Weekly #129: SushiSwap, FTX Acquires Blockfolio, Aave gets a money license, yearn.finance delegated funding vaults, Uniswap token lists and Ethereum is a dark forest

    Posted: 01 Sep 2020 03:17 PM PDT

    Everstake has upgraded ETHEREUM 2 beacon chain node to v1.0.0-alpha.24 ��

    Posted: 01 Sep 2020 01:55 AM PDT

    Baseline Protocol 101: Everything You Need to Know [2020 GUIDE]

    Posted: 01 Sep 2020 10:11 AM PDT

    Hung up Transactions

    Posted: 01 Sep 2020 01:52 PM PDT

    Greetings everyone, Has anyone had a transaction hang up on them?

    The other day before gas prices went up I tried to make a trade a uniswap using my Coinbase Wallet. Unfortunately it never processed and here we are days later with gas fees through roof. Any insight would be greatly appreciated!

    submitted by /u/TheRealMikeGeezy
    [link] [comments]

    Pending transaction

    Posted: 01 Sep 2020 06:17 AM PDT

    I was betting using ethereum on bitsler and they select the fee I chose the highest one not that it makes much of a difference but it's a pending transaction and their wallet has like 18 pending transactions. When can I expect the money to hit?

    submitted by /u/hr1999
    [link] [comments]

    Exploring Ethereum L2 Scaling with Hash Commitments

    Posted: 01 Sep 2020 12:44 PM PDT
    Read more
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