Content & Review | Ethereum Chinese Weekly

Organization & Layout | Connie

Image Source: Internet

"Ethereum Chinese Weekly"

——Building an Information Bridge for Chinese Ethereum Community

Introduction to "Ethereum Chinese Weekly"

Every Monday at 2 PM (UTC+8), the Ethereum Chinese Weekly invites renowned project engineers, KOLs, and others from the Web3 industry to share insights on Ethereum industry topics, interpretations of well-known institutional research reports, analyses of new projects, hot topic reviews, and more.

The "Ethereum Chinese Weekly" (hereinafter referred to as "Weekly") gathers the exciting content from the "Ethereum Chinese Weekly Meeting," capturing the latest news and in-depth analyses, continuously delivering the freshest and most substantial content to you.

The Ethereum Chinese Weekly Meeting and the "Weekly" are jointly initiated by Web3BuidlerTech and ETHPanda, with support from communities like LXDAO.

Together with you, we are building an information bridge for the Chinese Ethereum community.

Ethereum Chinese Weekly Video

The exciting content of this issue can be accessed via the following link, or click the original text:

YouTube:

https://www.youtube.com/watch?v=IhWDBrCS_XI

Materials for this issue:

https://www.notion.so/web3buidler/Web3BuidlerTech-702bd1ab80a7422586f1edac1917fa9c

Table of Contents

This issue of the "Weekly" consists of 2 parts, taking approximately 10 minutes to read.

1. Overview of Industry Information from Last Week

• Blockchain News

• Data Trends

1. In-Depth Content Analysis

• Reflections on Devcon 2024: Ethereum's North Star

• Implementation plan for EIP-4444 has been preliminarily determined

• Starknet emerges, named by Vitalik

• Interpretation of the Preconfirmation concept using Taiko as an example: How to make Ethereum transactions more efficient?

• Evolution of Ethereum node validation

• EIP-7805 and FOCIL: Enhancing Ethereum's transaction censorship resistance

Overview of Industry Information from Last Week

(November 18 to November 24)

Blockchain News

1. Vitalik Buterin released a "Sublinear Staking Contract Bug Bounty" on Bountycaster, with a total bounty of 2 ETH for identifying any errors or vulnerabilities in the contract and providing specific repair suggestions. If multiple issues are found, the bounty will be distributed based on severity.

• Learn more:

  https://warpcast.com/vitalik.eth/0xc285f29f

1. Vitalik Buterin posted on X platform: Part of L2 scaling is Ethereum increasing its blob capacity, and another part is Rollups becoming more data-efficient. He is pleased to see Starknet rise to the challenge and hopes to see more EVM Rollups improve data efficiency. Previously, Starknet announced the launch of solution Starknet v0.13.3, aimed at meeting the steadily growing demand for processing Ethereum blobs.

• Learn more:

  https://x.com/VitalikButerin/status/1858486010927308871

1. Ethereum wallet MetaMask launched a new Gas Station feature, allowing users to perform token swap transactions without paying ETH for gas fees. This feature, also known as gas-inclusive swap transactions, is now live for users of the MetaMask extension on the Ethereum mainnet and will soon be available on mobile.

• Learn more:

  https://x.com/MetaMask/status/1860075168338706708

1. Sui officials announced that the Sui mainnet experienced downtime between 1:15 PM and 3:45 PM Pacific Time on November 21, 2024. All validators fell into a crash loop, preventing any transactions from being processed. The Sui network experienced its first network failure due to an error in the congestion control code (transaction scheduling logic).

• The error stemmed from a recent upgrade to the congestion control code, aimed at better utilizing shared objects. Sui contributors quickly deployed a fix and restored normal network activity within 2.5 hours.

• Sui officials stated that the network downtime was caused by an error in the transaction scheduling logic that led to validator crashes, which has now been resolved.

• Learn more:

  https://medium.com/sui-network-cn/sui主网首次中断问题总结-8a13f26bf569

1. The zkSync and Polygon teams support Ethereum's Beam Chain proposal, believing it will not render their L2 networks obsolete. Developer Justin Drake proposed the plan at Devcon, suggesting the incorporation of zero-knowledge encryption into the Ethereum protocol.

• Learn more:

  https://x.com/CoinDesk/status/1859685020450840837

1. Coinbase Wallet announced the launch of the USDC Rewards program, allowing users to earn 4.7% APY simply by holding USDC in their on-chain wallet. Users need to update the mobile app to the latest version, and rewards will be paid in the first week of each month on Base, directly deposited into users' wallets.

• Learn more:

  https://x.com/CoinbaseWallet/status/1859286084535906744

1. Starknet announced that the integration phase of the first stage of STRK staking has begun, with Starknet deploying the system on the Starknet mainnet, expected to be completed within a few hours. Starting November 25, validators can begin integrating with the staking contract. The delegated UI and DApp will be ready on November 26.

• Learn more:

  https://x.com/BitwiseInvest/status/1861084066390384799

1. According to the Cyvers Alerts system, polterfinance reported a vulnerability on the Fantom chain, resulting in over $7 million in crypto assets being stolen. The attacker initially obtained funds on Ethereum through Tornado Cash, which were later bridged to Fantom. The team took immediate action: 1. The platform was paused to control the vulnerability. 2. The bridge was notified, and the involved wallets were traced to Binance. 3. An active investigation into the vulnerability is underway.

2. Uniswap founder Hayden Adams posted on social media, stating, "The killer use case of the internet is the transmission of information. The killer use case of cryptocurrency is the transmission of value."

Data Trends

1. L2BEAT Data (as of November 28, 2024):

• Learn more:

  https://l2beat.com/scaling/tvl

1. Tronscan data recently showed that the total number of TRON transactions reached 9,003,163,648, officially surpassing 9 billion. It is reported that the total number of transactions is the total recorded on the TRON network. Currently, the total number of TRON accounts exceeds 273 million, with a total locked value (TVL) exceeding $20 billion.

2. On November 25, according to DeFiLama data, the total market capitalization of stablecoins in the crypto market is $19.0667 billion, an increase of $7.818 billion from last week, with a week-on-week growth of 4.28%, of which USDT's market share is 69.79%. Since November 8, 90 billion USDT have been minted.

In-Depth Content Analysis

Reflections on Devcon 2024: Ethereum's North Star

Christine Kim shared her thoughts on Ethereum and participation in Devcon 2024. Against the backdrop of ETH prices under pressure, controversies over community values, and visible divisions in technological upgrades, the Ethereum ecosystem seems to face the challenge of losing a clear "North Star" goal. However, through Philip Daian's four uncompromising characteristics of "Ethereum 3.0," Martin Koeppelmann's concept of "native Rollups," and Vitalik Buterin's proposal of "defensive accelerationism" (d/acc), the conference coalesced around a new consensus: the development direction of Ethereum should not be solely driven by the technical roadmap, but rather aim for the ultimate goal of building a permissionless, transparent, and minimally trusted system that serves human welfare, which has become the "North Star" guiding the Ethereum ecosystem in the new era.

Read the original text:

https://www.galaxy.com/insights/research/learnings-from-devcon-2024/

The Implementation Plan for EIP-4444 Has Been Preliminary Determined

The implementation plan for EIP-4444 reached a consensus at the Bangkok L1 workshop: Phase One (2025.5.1): Allow clients to delete pre-merge block data; Phase Two: Introduce a fixed-size rolling window mechanism. The plan employs multiple technical solutions such as Portal Network and EIP-7801 to ensure data availability. Major clients like Geth, Besu, and Erigon have agreed to this implementation plan, marking a substantial step forward for EIP-4444.

Learn more:

https://hackmd.io/Dobc38YVQ1qmbbyI6LcFqA?view

Starknet Emerges, Named by Vitalik

Compared to high TPS (transactions per second) blockchains like Solana, Ethereum has always been constrained by two core issues: low TPS and high transaction fees. In this context, StarkNet, as a pioneer of Layer 2 scaling for Ethereum, has rapidly emerged due to its low-cost and high-performance technical advantages. Whether it is the continuous surge in on-chain activity, the rapid expansion of the ecosystem, or the strong support from the community, Starknet demonstrates the potential to lead the Layer 2 track. Its native token STRK, due to its core position in ecosystem development, is gradually becoming the focus of market and investor attention.

Learn more:

https://news.marsbit.co/20241120142018432839.html

Interpreting the Preconfirmation Concept Using Taiko as an Example: How to Make Ethereum Transactions More Efficient?

Taiko introduces "preconfirmation" technology, redefining transaction speed and user experience for Ethereum L2. Taiko is a Layer 2 based on foundational aggregation, aiming for complete interoperability with Ethereum and decentralization of the sequencer. To address the issue of transaction finality delays in the Rollup mechanism, the concept of "preconfirmation" has been introduced. Preconfirmation aims to improve user experience by assuring users of the inclusion and order of transactions in advance. This allows users to receive transaction confirmations faster, alleviating common delays and inefficiencies in the Rollup mechanism. Currently, several other projects are also participating in the formation of the preconfirmation ecosystem, which is expected to enhance the efficiency of the Ethereum L2 ecosystem and strengthen interoperability.

Read the original text:

https://4pillars.io/en/articles/preconfirmation-feat-taiko

Chinese translation:

https://www.theblockbeats.info/news/55848

The Evolution of Ethereum Node Validation

As Ethereum develops, the importance of node types becomes prominent, but the willingness of users to run nodes is low, limiting the availability and usability of on-chain validation. In the "Endgame" vision, users should be able to verify state integrity and data availability without specialized knowledge or expensive resources. This article focuses on three core types of Ethereum nodes for the future: stateless nodes, stateful nodes, and full/archive nodes. By analyzing their respective roles and trade-offs, it proposes directions for optimizing node structures to promote a more decentralized, secure, and scalable Ethereum ecosystem.

Read the original text:

https://x.com/2077Research/article/1859351786467041565

EIP-7805 and FOCIL: Enhancing Ethereum's Transaction Censorship Resistance

Currently, 95% of blocks are generated by Beaverbuild and Titanbuild, which increases the risk of transaction censorship and threatens Ethereum's decentralization attributes. The reasons lie in the widespread application of Maximum Extractable Value (MEV), MEV-Boost, and the impact of the proposer-builder separation (PBS) mechanism, which concentrates block production rights in the hands of a few specialized builders. To address this issue, the EIP-7805 proposal introduces FOCIL (Fork Choice Mandatory Inclusion List), which requires block producers to include specific transactions through a validator committee, preventing transaction censorship. Although this proposal cannot directly reduce the degree of centralization in block production, it significantly enhances Ethereum's censorship resistance and re-empowers validators with partial control over transaction inclusion.

Learn more:

https://risczero.com/blog/kailua-how-it-works

This concludes the content of this issue of the Ethereum Chinese Weekly. Thank you for reading!

Next Monday at 2 PM (UTC + 8), we look forward to sharing the new issue with you! (Joining method at the end)

Image source: Internet, please delete if infringing.

Co-initiating Communities

Supporting Communities

LXDAO is a DAO focused on sustainably supporting valuable Web3 public goods and open-source projects.

Join Us

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。